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SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 8-K
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CURRENT REPORT
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
Date of Report (Date of earliest event reported) September 25, 1996
SUPERIOR BANK FSB (as depositor under the Pooling and Servicing Agreement, dated
as of September 1, 1996, providing for the issuance of AFC Mortgage Loan Asset
Backed Certificates, Series 1996-3)
SUPERIOR BANK FSB
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(Exact name of registrant as specified in its charter)
UNITED STATES 333-4492 36-1414142
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(State or Other Jurisdiction (Commission (I.R.S. Employer
of Incorporation) File Number) Identification Number)
ONE LINCOLN CENTRE
OAKBROOK TERRACE, ILLINOIS 60181
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(Address of Principal (Zip Code)
Executive Offices)
Registrant's telephone number, including area code (708) 916-4000
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ITEM 2. ACQUISITION OR DISPOSITION OF ASSETS
Description of the Certificates, Sub-Pool 1 and Sub-Pool 2
On September 25, 1996 a single series of certificates, entitled AFC
Mortgage Loan Asset Backed Certificates, Series 1996-3 (the "Certificates") were
issued pursuant to a pooling and servicing agreement (the "Agreement") attached
hereto as Exhibit 4.1, dated as of September 1, 1996, among Superior Bank FSB,
as depositor (the "Depositor"), Lee Servicing Company, a division of Superior
Bank FSB, as servicer (the "Servicer") and LaSalle National Bank, as trustee
(the "Trustee"). The Certificates consist of eight classes identified as Class
1A-1, Class 1A-2, Class 1A-3, Class 1A-4, Class 1A-5, Class 1A-6 (collectively,
the "Class 1A Certificates"), Class 2A (the "Class 2A Certificates", together
with the Class 1A Certificates, the "Class A Certificates") and Class R (the
"Class R Certificates"). The Certificates evidence in the aggregate the entire
beneficial ownership interest in a trust fund comprised of Sub-Pool 1 and
Sub-Pool 2 (the "Trust Fund"), consisting primarily of first and second liens on
single-family properties, multifamily properties and mixed residential and
commercial structures (the "Mortgage Loans") with an aggregate principal balance
of $150,498,637.06 as of September 1, 1996 (the "Cut-off Date") and an aggregate
amount of $57,955,886.82 deposited on the Closing Date in the Sub-Pool 1
Pre-Funding Account and an aggregate amount of $35,337,717.00 deposited on the
Closing Date in the Sub-Pool 2 Pre-Funding Account. The Class A Certificates
were sold by the Depositor to Merrill Lynch, Pierce, Fenner & Smith Incorporated
("Merrill") and J.P. Morgan Securities Inc. ("J.P. Morgan"), pursuant to an
underwriting agreement dated September 14, 1996 among the Depositor, Merrill and
J.P. Morgan.
The Class A Certificates evidence, in the aggregate, $240,000,000 principal
amount as of the Cut-off Date. The Class 1A-1 Certificates will be entitled to
payments of interest accrued on the outstanding Class 1A-1 Principal Balance at
a variable pass-through rate. The Class 1A-2 Certificates will be entitled to
payments of interest accrued on the Class 1A-2 Principal Balance at a fixed rate
of 7.22% per annum. The Class 1A-3 Certificates will be entitled to payments of
interest accrued on the Class 1A-3 Principal Balance at a fixed rate of 7.48%
per annum. The Class 1A-4 Certificates will be entitled to payments of interest
accrued on the Class 1A-4 Principal Balance at a fixed rate of 7.54% per annum.
The Class 1A-5 Certificates will be entitled to payments of interest accrued on
the Class 1A-5 Principal Balance at a fixed rate of 7.87% per annum. The Class
1A-6 Certificates will be entitled to payments of interest accrued on the Class
1A-6 Principal Balance at a fixed rate of 8.07% per annum. The Class 2A
Certificates will be entitled to payments of interest accrued on the outstanding
Class 2A Principal Balance at a variable pass-through rate. In addition, on each
Remittance Date, each of the Class A Certificates will be entitled to
distributions allocable to principal which will, as more fully described in the
Agreement, include the principal portion of all scheduled and unscheduled
payments received on the Mortgage Loans during an Accrual Period.
Credit support in respect of certain losses realized on the Mortgage Loans
will be covered by a certificate insurance policy (the "Certificate Insurance
Policy") issued by Financial Guaranty Insurance Company (the "Certificate
Insurer") and, if the related Remittance Date is
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prior to the Cross-over Date, Excess Spread received by the Servicer. The
Certificate Insurance Policy will irrevocably and unconditionally guaranty
payment on each Remittance Date to the Holders of the Class A Certificates of
the related Class A Remittance Amount. If the related Remittance Date is prior
to the Cross-Over Date with respect to a particular Sub-Pool, Holders of the
Class A Certificates will have a right to 100% of the related Excess Spread to
fund the amount by which the related Class A Remittance Amount with respect to
all Classes of related Class A Certificates exceeds the related Available
Remittance Amount for such Remittance Date. To the extent available, the Net
Excess Spread and Excess Principal with respect to a Sub-Pool will then be
applied to cover any Available Funds Shortfall with respect to the other
Sub-Pool. Capitalized terms used in the second paragraph hereof and not
otherwise defined shall have the meanings assigned to them in the Agreement.
On September 27, 1996 following the closing of the initial issuance of the
Certificates, pursuant to the Agreement, the Trustee purchased from the
Depositor Subsequent Mortgage Loans, as defined in the Agreement, with an
aggregate principal balance equal to $25,086,692.04 with respect to Sub-Pool 1
with funds on deposit in the Sub-Pool 1 Pre-Funding Account, and $18,663,345.48
with respect to Sub-Pool 2 with funds on deposit in the Sub-Pool 2 Pre-Funding
Account, both established pursuant to the Agreement at a purchase price equal to
the principal balance thereof, which Subsequent Mortgage Loans were conveyed to
the Trustee pursuant to a Subsequent Transfer Instrument, dated September 27,
1996, between the Depositor and the Trustee (the "September 27 Instrument").
Attached to the September 27 Instrument is the Mortgage Loan Schedule with
respect to each Sub-Pool listing the related Subsequent Mortgage Loans that are
the subject of such September 27 Instrument.
Items 3 through 6 and Item 8 are not included because they are not
applicable.
Item 7. Financial Statements and Exhibits
(a) Not applicable
(b) Not applicable
(c) Exhibits
4.1 Pooling and Servicing Agreement, dated as of September 1, 1996, by and
among Superior Bank FSB, as Depositor, Lee Servicing Company, a division of
Superior Bank FSB, as Servicer and LaSalle National Bank, as Trustee.
4.2 Subsequent Transfer Instrument, dated September 27, 1996, between
Superior Bank FSB as Depositor and LaSalle National Bank as Trustee.
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SIGNATURES
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 thereunto duly authorized.
SUPERIOR BANK FSB
By: /s/ WILLIAM C. BRACKEN
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Name: William C. Bracken
Title: Senior Vice President
and Chief Financial Officer
Dated: September 27, 1996
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EXHIBITS TABLE
4.1 Pooling and Servicing Agreement, dated as of September 1, 1996, by and
among Superior Bank FSB, as Depositor, Lee Servicing Company, a division of
Superior Bank FSB, as Servicer and LaSalle National Bank, as Trustee.
4.2 Subsequent Transfer Instrument, dated September 27, 1996, between
Superior Bank FSB as Depositor and LaSalle National Bank as Trustee.
EXHIBIT 4.1
EXECUTION COPY
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POOLING AND SERVICING AGREEMENT
Dated as of September 1, 1996
LASALLE NATIONAL BANK
(Trustee)
SUPERIOR BANK FSB
(Depositor)
and
LEE SERVICING COMPANY,
A DIVISION OF SUPERIOR BANK FSB
(Servicer)
AFC Mortgage Loan Asset Backed
Certificates, Series 1996-3
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TABLE OF CONTENTS
ARTICLE I
DEFINITIONS................................ 2
ARTICLE II
SALE AND CONVEYANCE OF THE TRUST FUND......................... 41
Section 2.01 Sale and Conveyance of Trust Fund; Priority and
Subordination of Ownership Interests.......................... 41
Section 2.02 Possession of Mortgage Files.................................. 41
Section 2.03 Books and Records............................................. 41
Section 2.04 Delivery of Mortgage Loan Documents........................... 42
Section 2.05 Acceptance by Trustee of the Trust Fund; Certain
Substitutions; Certification by Trustee....................... 45
Section 2.06 [Reserved].................................................... 47
Section 2.07 Execution of Certificates..................................... 48
Section 2.08 Fees and Expenses of the Trustee............................ . 48
Section 2.09 Application of Principal and Interest......................... 48
Section 2.10 Conveyance of the Subsequent Mortgage Loans................... 48
ARTICLE III
REPRESENTATIONS AND WARRANTIES.......................... 53
Section 3.01 Representations of the Depositor.............................. 53
Section 3.02 Individual Mortgage Loans..................................... 55
Section 3.03 Purchase and Substitution..................................... 64
ARTICLE IV
THE CERTIFICATES.............................................. 67
Section 4.01 The Certificates.............................................. 67
Section 4.02 Registration of Transfer and Exchange of Certificates......... 67
Section 4.03 Mutilated, Destroyed, Lost or Stolen Certificates......... ... 72
Section 4.04 Persons Deemed Owners......................................... 73
Section 4.05 Information Reports to be Filed by the Servicer............... 73
ARTICLE V
ADMINISTRATION AND SERVICING OF THE MORTGAGE LOANS............ 74
Section 5.01 Duties of the Servicer........................................ 74
Section 5.02 Liquidation of Mortgage Loans................................. 76
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Section 5.03 Establishment of Principal and Interest Accounts; Deposits in
Principal and Interest Accounts............................................. 77
Section 5.04 Permitted Withdrawals From the Principal and Interest Account............... 78
Section 5.05 Payment of Property Taxes, Insurance and Other Charges...................... 80
Section 5.06 Transfer of Accounts; Monthly Statements.................................... 81
Section 5.07 Maintenance of Hazard Insurance............................................. 81
Section 5.08 Maintenance of Mortgage Impairment Insurance Policy......................... 82
Section 5.09 Fidelity Bond............................................................... 82
Section 5.10 Title, Management and Disposition of REO Property........................... 83
Section 5.11 Right to Repurchase Defaulted Mortgage Loans................................ 86
Section 5.12 Collection of Certain Mortgage Loan Payments................................ 86
Section 5.13 Access to Certain Documentation and Information Regarding the
Mortgage Loans.............................................................. 87
Section 5.14 Superior Liens.............................................................. 87
Section 5.15. Environmental Matters....................................................... 87
Section 5.16 Acknowledgment of Duties and Obligations.................................... 88
ARTICLE VI
PAYMENTS TO THE CERTIFICATEHOLDERS...................................... 89
Section 6.01 Establishment of Certificate Account; Deposits in Certificate
Account..................................................................... 89
Section 6.02 Permitted Withdrawals from Certificate Account.............................. 89
Section 6.03 Establishment of Trustee Expense Account; Deposits in Trustee
Expense Account; Permitted Withdrawals from Trustee Expense
Account..................................................................... 90
Section 6.04 Payment of Monthly Premium to Certificate Insurer........................... 92
Section 6.05 Investment of Accounts...................................................... 92
Section 6.06 Priority and Subordination of Distributions................................. 93
Section 6.07 Insufficiency of Amount Available or Net Excess Amount
Available...................................................................108
Section 6.08 Statements..................................................................109
Section 6.09 Advances by the Servicer....................................................113
Section 6.10 Compensating Interest.......................................................114
Section 6.11 [Reserved]..................................................................114
Section 6.12 Pre-Funding Account.........................................................114
Section 6.13 Interest Coverage Account...................................................115
Section 6.14 Reserve Account.............................................................117
Section 6.15 Supplemental Interest Account...............................................118
Section 6.16 Compensating Rate Shortfall.................................................119
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ARTICLE VII
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GENERAL SERVICING PROCEDURE.........................................120
Section 7.01 Assumption Agreements.......................................................120
Section 7.02 Satisfaction of Mortgages and Release of Mortgage Files.....................120
Section 7.03 Servicing Compensation......................................................122
Section 7.04 Annual Statement as to Compliance...........................................122
Section 7.05 Annual Independent Public Accountants' Servicing Report and
Comfort Letter..............................................................123
Section 7.06 Certificateholder's, Trustee's and Certificate Insurer's Right to
Examine Servicer Records....................................................123
Section 7.07 Reports to the Trustee; Principal and Interest Account
Statements..................................................................123
ARTICLE VIII
REPORTS TO BE PROVIDED BY SERVICER......................................125
Section 8.01 Financial Statements........................................................125
ARTICLE IX
THE SERVICER.......................................................126
Section 9.01 Indemnification; Third Party Claims.........................................126
Section 9.02 Merger or Consolidation of the Depositor and the Servicer...................127
Section 9.03 Limitation on Liability of the Servicer and Others..........................127
Section 9.04 Servicer Not to Resign......................................................127
Section 9.05 Representations of the Servicer.............................................128
Section 9.06 Accounting Upon Resignation or Termination of Servicer......................129
ARTICLE X
DEFAULT............................................................131
Section 10.01 Events of Default...........................................................131
Section 10.02 Trustee to Act; Appointment of Successor....................................134
Section 10.03 Waiver of Defaults..........................................................136
ARTICLE XI
TERMINATION........................................................137
Section 11.01 Termination.................................................................137
Section 11.02 Additional Termination Requirements.........................................139
Section 11.03 Depositor's Right to Depositor's Yield Absolute.............................140
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ARTICLE XII
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THE TRUSTEE.......................................................141
Section 12.01 Duties of Trustee...........................................................141
Section 12.02 Certain Matters Affecting the Trustee.......................................143
Section 12.03 Trustee Not Liable for Certificates or Mortgage Loans.......................144
Section 12.04 Trustee May Own Certificates................................................145
Section 12.05 Servicer to Pay Trustee's Fees and Expenses.................................145
Section 12.06 Eligibility Requirements for Trustee........................................146
Section 12.07 Resignation and Removal of the Trustee......................................146
Section 12.08 Successor Trustee...........................................................147
Section 12.09 Merger or Consolidation of Trustee..........................................148
Section 12.10 Appointment of Co-Trustee or Separate Trustee...............................148
Section 12.11 Tax Returns.................................................................149
Section 12.12 Appointment of Custodians...................................................149
Section 12.13 Trustee May Enforce Claims Without Possession of Certificates...............150
Section 12.14 Suits for Enforcement.......................................................150
Section 12.15 Control of Remedies by Certificate Insurer and
Certificateholders..........................................................150
ARTICLE XIII
REMIC PROVISIONS.................................................151
Section 13.01 REMIC Administration........................................................151
Section 13.02 Prohibited Transactions and Activities......................................154
Section 13.03 Servicer and Trustee Indemnification........................................154
ARTICLE XIV
MISCELLANEOUS PROVISIONS...........................................155
Section 14.01 Acts of Certificateholders..................................................155
Section 14.02 Amendment...................................................................155
Section 14.03 Recordation of Agreement....................................................156
Section 14.04 Duration of Agreement.......................................................156
Section 14.05 Governing Law...............................................................156
Section 14.06 Notices.....................................................................157
Section 14.07 Severability of Provisions..................................................158
Section 14.08 No Partnership..............................................................158
Section 14.09 Counterparts................................................................158
Section 14.10 Successors and Assigns......................................................158
Section 14.11 Headings....................................................................158
Section 14.12 The Certificate Insurer.....................................................158
Section 14.13 Paying Agent................................................................159
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Section 14.14 Actions of Certificateholders...............................................159
Section 14.15 Grant of Security Interest..................................................160
</TABLE>
EXHIBIT A CONTENTS OF MORTGAGE FILE
EXHIBIT B-1 FORM OF CLASS 1A CERTIFICATE
EXHIBIT B-2 FORM OF CLASS 2A CERTIFICATE
EXHIBIT B-3 FORM OF CLASS R CERTIFICATE
EXHIBIT B-4 FORM OF REVERSE OF CERTIFICATE
EXHIBIT C PRINCIPAL AND INTEREST ACCOUNT LETTER AGREEMENT
EXHIBIT D RESALE CERTIFICATION
EXHIBIT E ASSIGNMENT
EXHIBIT E(1) WIRING INSTRUCTIONS FORM
EXHIBIT F FORM OF TRUSTEE INITIAL CERTIFICATION
EXHIBIT F-1 FORM OF TRUSTEE INTERIM CERTIFICATION
EXHIBIT G FORM OF TRUSTEE FINAL CERTIFICATION
EXHIBIT H-1 MORTGAGE LOAN SCHEDULE FOR SUB-POOL 1
EXHIBIT H-2 MORTGAGE LOAN SCHEDULE FOR SUB-POOL 2
EXHIBIT I REQUEST FOR RELEASE OF DOCUMENTS
EXHIBIT J TRANSFER AFFIDAVIT
EXHIBIT J-1 FORM OF TRANSFER CERTIFICATE
EXHIBIT K FORM OF NOTICE
EXHIBIT L CUSTODIAL AGREEMENT
EXHIBIT M FORM OF LIQUIDATION REPORT
EXHIBIT N FORM OF DELINQUENCY REPORT
EXHIBIT O CERTIFICATE INSURANCE POLICY
EXHIBIT P PRINCIPAL PAYMENT TABLES
EXHIBIT Q FORM OF SERVICER'S MONTHLY REMITTANCE REPORT TO TRUSTEE
EXHIBIT R PROPOSED SUBSEQUENT MORTGAGE LOAN SCHEDULE
EXHIBIT S MORTGAGE LOANS 30 OR MORE DAYS DELINQUENT
EXHIBIT T SUBSEQUENT TRANSFER INSTRUMENT
EXHIBIT U FORM OF ADDITION NOTICE
EXHIBIT V OFFICER'S CERTIFICATE
EXHIBIT W FORM OF AGREEMENT OF APPOINTMENT AND ACCEPTANCE
OF SEPARATE TRUSTEE
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<PAGE>
Agreement dated as of September 1, 1996, among LaSalle National Bank, as
trustee (the "Trustee"), Superior Bank FSB, as depositor (the "Depositor"), and
Lee Servicing Company, a division of Superior Bank FSB, as servicer (the
"Servicer").
PRELIMINARY STATEMENT
In order to facilitate the servicing of certain Mortgage Loans by the
Servicer, the Servicer and the Depositor are entering into this Agreement with
the Trustee. The Depositor is transferring the Sub-Pool 1 Mortgage Loans and
Sub-Pool 2 Mortgage Loans to the Trustee for the benefit of the
Certificateholders under this Agreement, pursuant to which eight classes of
Certificates are being issued on the Closing Date, denominated on the face
thereof as AFC Mortgage Loan Asset Backed Certificates, Series 1996-3, Class
1A-1, Class 1A-2, Class 1A-3, Class 1A-4, Class 1A-5, Class 1A-6, Class 2A and
Class R, respectively.
The Class 1A, Class 2A and the Class R Certificates represent, in the
aggregate, a 100% undivided ownership interest in the Mortgage Loans and all
proceeds thereof due after the Cut-off Date with respect to the Initial Mortgage
Loans and due after a Subsequent Cut-off Date with respect to the Subsequent
Mortgage Loans (other than the Depositor's Yield). The Sub-Pool 1 Initial
Mortgage Loans have an aggregate outstanding principal balance of $93,528,661.75
as of the Cut-off Date, and the Sub-Pool 2 Initial Mortgage Loans have an
aggregate outstanding principal balance of $56,969,975.31 as of the Cut-off
Date, after application of payments received by the Depositor on or before such
date. The aggregate outstanding principal balance of both Sub-Pools is
$150,498,637.06 as of the Cut-off Date. SubPool 1 consists of fixed rate
mortgage loans and Sub-Pool 2 consists of adjustable rate mortgage loans. The
Class 1A-1 Certificates will have a variable pass-through rate, the Class 1A-2
Certificates have a fixed Class 1A-2 Pass-Through Rate of 7.22% per annum, the
Class 1A-3 Certificates have a fixed Class 1A-3 Pass-Through Rate of 7.48% per
annum, the Class 1A-4 Certificates have a fixed Class 1A-4 Pass-Through Rate of
7.54% per annum, the Class 1A-5 Certificates have a fixed Class 1A-5
Pass-Through Rate of 7.87% per annum and the Class 1A-6 Certificates have a
fixed Class 1A-6 Pass Through Rate of 8.07% per annum. The Class 2A Certificates
will have a variable pass-through rate. As provided herein, the Class R
Certificates are subordinate to the Class A Certificates. As provided herein,
the Servicer will make an election that the segregated pool of assets subject to
this Agreement, including the Mortgage Loans, be treated for federal income tax
purposes as a "real estate mortgage investment conduit" (a "REMIC"). The Class
1A and Class 2A Certificates will be "regular interests" and the Class R
Certificates will be the sole Class of "residual interests" in such REMIC.
The parties hereto agree as follows:
[Intentionally Left Blank]
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ARTICLE I
DEFINITIONS
Whenever used in this Agreement, including the Preliminary Statement, the
following words and phrases, unless the context otherwise requires, shall have
the following meanings. This Agreement relates to the Trust Fund consisting of
Sub-Pool 1 and Sub-Pool 2, evidenced by AFC Mortgage Loan Asset Backed
Certificates, Series 1996-3, Class 1A-1, Class 1A-2, Class 1A-3, Class 1A-4,
Class 1A-5, Class 1A-6, Class 2A and Class R. All calculations of interest
pursuant to this Agreement, unless otherwise specified, are based on a 360-day
year consisting of twelve 30-day months.
ACCOUNT: Any of the Certificate Accounts, Trustee Expense Accounts,
Interest Coverage Accounts, Reserve Accounts, Principal and Interest Accounts,
Pre-Funding Accounts, or Supplemental Interest Account established by the
Trustee and held in trust by the Trustee for the Certificateholders. The
Trustee's obligation to establish and maintain the Accounts is not delegable,
except with respect to the Principal and Interest Accounts.
ACCRUAL PERIOD: With respect to the Class 1A-1 and Class 2A Certificates
and with respect to any Remittance Date other than the October 1996 Remittance
Date, the period commencing on the immediately preceding Remittance Date and
ending on the day immediately preceding such Remittance Date. With respect to
the October 1996 Remittance Date, the period commencing on the Closing Date and
ending on the day immediately preceding the October 1996 Remittance Date.
ADDITION NOTICE: With respect to the transfer of Subsequent Mortgage Loans
to the Trust Fund pursuant to Section 2.10 of this Agreement, a notice,
substantially in the form of Exhibit U, which shall be given not later than two
Business Days prior to the related Subsequent Transfer Date, of the Depositor's
designation of Subsequent Mortgage Loans to be sold to the Trust Fund and the
aggregate principal balance of such Subsequent Mortgage Loans.
ADDITIONAL PRINCIPAL: With respect to the Class 1A or Class 2A Certificates
and any Remittance Date, an amount equal to the lesser of (i) the amount
necessary to reduce the related Class 1A or Class 2A Principal Balance so that
the Overcollateralization Amount for the related Sub-Pool equals the related
Required Overcollateralization Amount for such Sub-Pool and (ii) the sum of (a)
the Remaining Net Excess Spread for such Sub-Pool, (b) the Available Transfer
Cashflow for such Sub-Pool and (c) the Net Excess Principal for such Sub-Pool.
ADJUSTMENT DATE: With respect to each Sub-Pool 2 Mortgage Loan, a date on
which the Mortgage Rate may adjust, as provided in the related Mortgage Note.
ADVERSE REMIC EVENT: As defined in Section 13.01(f).
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AFFILIATE: With respect to any Person, any other Person controlling,
controlled by or under common control with such Person. For the purposes of this
definition, "control" means the power to direct the management and policies of
such Person, directly or indirectly, whether through the ownership of voting
securities, by contract or otherwise; and the terms "controlling" and
"controlled" have meanings correlative to the foregoing.
AGREEMENT: This Pooling and Servicing Agreement and all amendments hereof
and supplements hereto.
AMOUNT AVAILABLE: With respect to any Sub-Pool and for a particular
Remittance Date, the sum of (i) the Available Remittance Amount for such
Sub-Pool (reduced by the related Monthly Premium to be paid to the Certificate
Insurer pursuant to Section 6.04), (ii) the Excess Spread with respect to such
Sub-Pool for such Remittance Date, (iii) if an Available Funds Shortfall exists
in such Sub-Pool, (a) first, the Net Excess Spread from the other Sub-Pool, to
the extent of such Available Funds Shortfall, (b) second, the Excess Principal
from the other Sub-Pool, to the extent of any remaining Available Funds
Shortfall and (c) third, any amounts in respect of any remaining Available Funds
Shortfall withdrawn from the related Reserve Account and deposited in the
related Certificate Account, (iv) (a) first, the Available Transfer Cashflow, to
the extent necessary to reach the Required Overcollateralization Amount for such
Sub-Pool and (b) second, the Net Excess Principal, to the extent necessary to
reach the Required Overcollateralization Amount for such Sub-Pool and (v) any
Insured Payments with respect to such Sub-Pool.
AMOUNTS HELD FOR FUTURE DISTRIBUTION: With respect to any Sub-Pool and as
to any Remittance Date, the aggregate amount held in the Principal and Interest
Account with respect to such Sub-Pool on account of all Monthly Payments, or
portions thereof, received in respect of scheduled principal and interest due
after the Due Period related to such Remittance Date for application on the
scheduled Due Date at the request of the Mortgagor.
ANNUAL TRUSTEE EXPENSE AMOUNT: As of each Remittance Date, with respect to
each Mortgage Loan, an amount equal to one-twelfth of the product of 0.03%
multiplied by the related Principal Balance.
APPRAISED VALUE: The appraised value of the Mortgaged Property based upon
the appraisal made by or for the originator at the time of the origination of
the related Mortgage Loan, or the sales price of the Mortgaged Property at the
time of such origination, whichever is less.
ASSIGNMENT OF LEASES: With respect to any Mortgaged Property related to the
Sub-Pool 1 Multifamily Loans and Sub-Pool 1 Mixed Use Loans, any assignment of
leases, rents and profits or similar document or instrument executed by the
related Mortgagor in connection with the origination of the related Sub-Pool 1
Multifamily Loan or Sub-Pool 1 Mixed Use Loan assigning to the mortgagee all of
the income, rents and profits derived from the ownership, operation, leasing or
disposition of all or a portion of such Mortgaged Property.
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ASSIGNMENT OF MORTGAGE: With respect to each Mortgage Loan, an assignment
of the Mortgage, notice of transfer or equivalent instrument sufficient under
the laws of the jurisdiction wherein the related Mortgaged Property is located
to reflect of record the sale of the Mortgage to the Trustee for the benefit of
the Certificateholders.
AUTHORIZED DENOMINATIONS: Each of the Class 1A and Class 2A Certificates
are issuable only in the minimum Percentage Interest corresponding to a minimum
denomination of $100,000 or integral multiples of $1,000 in excess thereof
(except that a single Certificate for each of the Class 1A-1, Class 1A-2, Class
1A-3, Class 1A-4, Class 1A-5, Class 1A-6 and Class 2A Certificates may be issued
in a different amount which is less than the related minimum dollar
denomination).
AVAILABLE FUNDS SHORTFALL: With respect to any Sub-Pool and for a
particular Remittance Date, the amount by which the Available Remittance Amount
plus Excess Spread for such Sub-Pool is less than the Required Payments (other
than in respect of the Class A Principal Remittance Amount after the related
Cross-over Date) for such Sub-Pool.
AVAILABLE PRINCIPAL AMOUNT: With respect to any Sub-Pool and for a
particular Remittance Date, the excess, if any, of the amount described in the
definition of Class A Principal Remittance Amount without giving effect to
clause (a) thereof over the amount described in the definition of Class A
Principal Remittance Amount, after giving effect to clause (a) thereof.
AVAILABLE REMITTANCE AMOUNT: With respect to each Sub-Pool and Remittance
Date, the sum of the following: (i) the sum of all amounts described in clauses
(i) through (vii), inclusive, of Section 5.03 received by the Servicer or any
Subservicer (including any amounts paid by the Servicer or the Depositor and
excluding any Excess Spread with respect to the related Sub-Pool, any related
Amounts Held for Future Distribution, any amounts not required to be deposited
in the related Principal and Interest Account pursuant to Section 5.03 and any
amounts withdrawn by the Servicer pursuant to Section 5.04(ii), (iii), (vi) and
(vii) as of the related Determination Date) during the related Due Period and
deposited into the related Certificate Account as of the related Determination
Date, (ii) the amount of any Advances and Compensating Interest payments with
respect to the related Sub-Pool remitted by the Servicer for such Remittance
Date, (iii) with respect to the final Remittance Date in connection with the
purchase of all the Mortgage Loans and REO Properties by the Servicer or
Certificate Insurer, the Termination Price remitted by the Servicer, (iv) the
amount of any Interest Coverage Addition with respect to the related Sub-Pool
for such Remittance Date and (v) with respect to the Class 2A Certificates only,
Supplemental Interest, if any. No amount included in the computation of the
Available Remittance Amount with respect to any Remittance Date by virtue of
being described by any component of the definition thereof shall be included
more than once by virtue of also being described by any other component or
otherwise.
AVAILABLE TRANSFER CASHFLOW: With respect to each Sub-Pool and for a
particular Remittance Date, an amount equal to the Remaining Net Excess Spread
for the other
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Sub-Pool remaining after the payment, if any, of Additional Principal on the
Class A Certificates related to such other Sub-Pool.
BOOK-ENTRY CERTIFICATE: Any Class 1A or Class 2A Certificate registered in
the name of the Depository or its nominee.
BUSINESS DAY: Any day other than (i) a Saturday or Sunday, or (ii) a day on
which banking institutions in the States of New York, Illinois or New Jersey are
authorized or obligated by law or executive order to be closed; provided,
however, that the Servicer shall provide the Trustee with a list of dates on
which banking institutions in the State of New Jersey are authorized or
obligated by law or executive order to be closed and such list shall be revised
annually thereafter and delivered to the Trustee prior to the expiration of the
most recent list provided. Failure to provide such list shall not constitute an
Event of Default; provided that the Trustee may rely on the most recently
delivered list without further investigation.
CAP AGREEMENT: The Cap Agreement, dated as of September 25, 1996, between
the Cap Provider and the Trustee, pursuant to which the Cap Provider will make
payments in an amount equal to Supplemental Interest to the Trustee on each
Remittance Date through and including the February 25, 1997 Remittance Date.
CAP AGREEMENT EVENT OF DEFAULT: As defined in the Cap Agreement.
CAP AGREEMENT TERMINATION EVENT: As defined in the Cap Agreement.
CAP PROVIDER: Merrill Lynch Capital Services, Inc.
CERCLA: The Comprehensive Environmental Response, Compensation and
Liability Act of 1980, as amended.
CERTIFICATE: Any Class 1A-1 Certificate, Class 1A-2 Certificate, Class 1A-3
Certificate, Class 1A-4 Certificate, Class 1A-5 Certificate, Class 1A-6
Certificate, Class 2A Certificate or Class R Certificate executed by the Trustee
on behalf of the Trust Fund and authenticated by the Trustee, substantially in
the applicable form annexed hereto as Exhibits B-1 through B-3.
CERTIFICATE ACCOUNT: With respect to each Sub-Pool, as described in Section
6.01. With respect to Sub-Pool 1, the Certificate Account shall be known as the
Sub-Pool 1 Certificate Account and with respect to Sub-Pool 2, the Certificate
Account shall be known as the Sub-Pool 2 Certificate Account.
CERTIFICATEHOLDER or HOLDER: The Person in whose name a Certificate is
registered in the Certificate Register, except that, neither a Disqualified
Organization nor a Non-United States Person shall be a Holder of a Class R
Certificate for any purposes hereof and,
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solely for the purposes of giving any consent, waiver, request or demand
pursuant to this Agreement, any Certificate registered in the name of the
Depositor, the Servicer or any Subservicer, or registered in the name of any
Person known to a Responsible Officer of the Trustee to be an Affiliate of any
of them, shall be deemed not to be outstanding and the undivided Percentage
Interest evidenced thereby shall not be taken into account in determining
whether the requisite Percentage Interest of Certificates necessary to effect
any such consent, waiver, request or demand has been obtained. For purposes of
any consent, waiver, request or demand of Certificateholders pursuant to this
Agreement, upon the Trustee's request, the Depositor, the Servicer and any
Subservicer shall provide to the Trustee a notice identifying any of their
respective affiliates that is a Certificateholder as of the date(s) specified by
the Trustee in such request. All references to "Holders" or "Certificateholders"
shall reflect the rights of Certificate Owners as they may indirectly exercise
such rights through the Depository and participating members thereof, except as
otherwise specified herein; provided, however, that the Trustee shall be
required to recognize as a "Holder" or "Certificateholder" only the Person in
whose name a Certificate is registered in the Certificate Register.
CERTIFICATE INSURANCE POLICY: The certificate guaranty surety bond, policy
number 96010522, dated the Closing Date, issued by the Certificate Insurer for
the benefit of the Holders of the Class A Certificates, pursuant to which the
Certificate Insurer guarantees Insured Payments, a copy of which is attached
hereto as Exhibit O.
CERTIFICATE INSURER: Financial Guaranty Insurance Company, a New York stock
insurance corporation, or any successor thereof, as issuer of the Certificate
Insurance Policy.
CERTIFICATE OWNER: With respect to a Book-Entry Certificate, the Person who
is the beneficial owner of such Certificate as reflected on the books of the
Depository or on the books of a Person maintaining an account with the
Depository (directly or as an indirect participant, in accordance with the rules
of the Depository).
CERTIFICATE REGISTER: As defined in Section 4.02.
CERTIFICATE REGISTRAR: Initially, the Trustee, and thereafter, any
successor appointed pursuant to Section 4.02.
CLASS: Collectively, Certificates bearing the same numerical or
alphabetical designation (1A, 1A-1, 1A-2, 1A-3, 1A-4, 1A-5, 1A-6, 2A or R).
CLASS 1A MAJORITY CERTIFICATEHOLDERS: The Holder or Holders of Class 1A-1,
Class 1A-2, Class 1A-3, Class 1A-4, Class 1A-5 and Class 1A-6 Certificates
possessing Voting Rights in excess of 51% in the aggregate.
CLASS 1A CERTIFICATE: Either a Class 1A-1, Class 1A-2, Class 1A-3, Class
1A-4, Class 1A-5 or Class 1A-6 Certificate.
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CLASS 1A CERTIFICATEHOLDER: A Holder of a Class 1A-1, Class 1A-2, Class
1A-3, Class 1A-4, Class 1A-5 or Class 1A-6 Certificate.
CLASS 1A INTEREST REMITTANCE AMOUNT: As to any Remittance Date, the sum of
the Class 1A-1 Interest Remittance Amount, the Class 1A-2 Interest Remittance
Amount, the Class 1A-3 Interest Remittance Amount, the Class 1A-4 Interest
Remittance Amount, the Class 1A-5 Interest Remittance Amount and the Class 1A-6
Interest Remittance Amount.
CLASS 1A-1 CERTIFICATE: A Certificate denominated as a Class 1A-1
Certificate.
CLASS 1A-2 CERTIFICATE: A Certificate denominated as a Class 1A-2
Certificate.
CLASS 1A-3 CERTIFICATE: A Certificate denominated as a Class 1A-3
Certificate.
CLASS 1A-4 CERTIFICATE: A Certificate denominated as a Class 1A-4
Certificate.
CLASS 1A-5 CERTIFICATE: A Certificate denominated as a Class 1A-5
Certificate.
CLASS 1A-6 CERTIFICATE: A Certificate denominated as a Class 1A-6
Certificate.
CLASS 1A-1 CERTIFICATEHOLDER: A Holder of a Class 1A-1 Certificate.
CLASS 1A-2 CERTIFICATEHOLDER: A Holder of a Class 1A-2 Certificate.
CLASS 1A-3 CERTIFICATEHOLDER: A Holder of a Class 1A-3 Certificate.
CLASS 1A-4 CERTIFICATEHOLDER: A Holder of a Class 1A-4 Certificate.
CLASS 1A-5 CERTIFICATEHOLDER: A Holder of a Class 1A-5 Certificate.
CLASS 1A-6 CERTIFICATEHOLDER: A Holder of a Class 1A-6 Certificate.
CLASS 1A-1 PASS-THROUGH RATE: As to any Remittance Date, the least of (i)
One-Month LIBOR plus 0.125% per annum, (ii) the weighted average of the Mortgage
Rates of the Sub-Pool 1 Mortgage Loans minus, with respect to Sub-Pool 1, the
sum of (a) the Servicing Fee Rate, (b) the rate at which the Annual Trustee
Expense Amount is calculated and (c) the Premium Percentage and (iii) 10.00% per
annum. For purposes of calculating the Class
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1A-1 Pass-Through Rate for any Remittance Date, because the Sub-Pool 1 Mortgage
Loans provide for the calculation of interest on a basis other than a 360-day
year and the actual number of days elapsed (an "Actual/360 Basis") (which is the
basis on which interest is calculated on the Class 1A-1 Certificates), the basis
on which interest is computed on the Sub-Pool 1 Mortgage Loans will be deemed
adjusted to an Actual/360 Basis that will result in the same amount of interest
being due as would be due using the method of computation of interest that is
used to calculate interest on the Sub-Pool 1 Mortgage Loans.
CLASS 1A-2 PASS-THROUGH RATE: The fixed annual rate of interest payable to
the Class 1A-2 Certificateholders which shall be equal to 7.22%.
CLASS 1A-3 PASS-THROUGH RATE: The fixed annual rate of interest payable to
the Class 1A-3 Certificateholders which shall be equal to 7.48%.
CLASS 1A-4 PASS-THROUGH RATE: The fixed annual rate of interest payable to
the Class 1A-4 Certificateholders which shall be equal to 7.54%.
CLASS 1A-5 PASS-THROUGH RATE: The fixed annual rate of interest payable to
the Class 1A-5 Certificateholders which shall be equal to 7.87%.
CLASS 1A-6 PASS-THROUGH RATE: The fixed annual rate of interest payable to
the Class 1A-6 Certificateholders which shall be equal to 8.07%.
CLASS 1A-1 INTEREST REMITTANCE AMOUNT: As to any Remittance Date, the
interest accrued at the Class 1A-1 Pass-Through Rate for the Accrual Period on
the Class 1A-1 Principal Balance.
CLASS 1A-2 INTEREST REMITTANCE AMOUNT: As to any Remittance Date, 30 days'
interest at the Class 1A-2 Pass-Through Rate on the Class 1A-2 Principal Balance
outstanding immediately prior to such Remittance Date.
CLASS 1A-3 INTEREST REMITTANCE AMOUNT: As to any Remittance Date, 30 days'
interest at the Class 1A-3 Pass-Through Rate on the Class 1A-3 Principal Balance
outstanding immediately prior to such Remittance Date.
CLASS 1A-4 INTEREST REMITTANCE AMOUNT: As to any Remittance Date, 30 days'
interest at the Class 1A-4 Pass-Through Rate on the Class 1A-4 Principal Balance
outstanding immediately prior to such Remittance Date.
CLASS 1A-5 INTEREST REMITTANCE AMOUNT: As to any Remittance Date, 30 days'
interest at the Class 1A-5 Pass-Through Rate on the Class 1A-5 Principal Balance
outstanding immediately prior to such Remittance Date.
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CLASS 1A-6 INTEREST REMITTANCE AMOUNT: As to any Remittance Date, 30 days'
interest at the Class 1A-6 Pass-Through Rate on the Class 1A-6 Principal Balance
outstanding immediately prior to such Remittance Date.
CLASS 1A PRINCIPAL BALANCE: With respect to the Class 1A Certificates and
as of any date of determination, the Original Class 1A Principal Balance reduced
by the sum of (A) all amounts (including that portion of Insured Payments, if
any, made in respect of principal) previously distributed to the Class 1A
Certificateholders in respect of principal on all previous Remittance Dates on
account of amounts described in clauses (c)(i) through (iv), inclusive, and
clauses (c)(v) (to the extent the payment pursuant to clause (c)(v) is in
respect of principal not previously covered by an Insured Payment), (c)(vi) and
(c)(viii) of the definition of Class A Principal Remittance Amount, (B) all
amounts previously distributed to the Class 1A Certificateholders in respect of
principal pursuant to Sections 6.06(c)(A)(X)(xiv) through (xix) and (C) all
amounts previously distributed to the Class 1A Certificateholders pursuant to
the last paragraph of Section 6.06(c).
CLASS 1A-1 PRINCIPAL BALANCE: With respect to the Class 1A-1 Certificates
and as of any date of determination, the Original Class 1A-1 Principal Balance
reduced by the sum of (A) all amounts (including that portion of Insured
Payments, if any, made in respect of principal) previously distributed to the
Class 1A-1 Certificateholders in respect of principal on all previous Remittance
Dates on account of amounts described in clauses (c)(i) through (iv), inclusive,
and clauses (c)(v) (to the extent the payment pursuant to clause (c)(v) is in
respect of principal not previously covered by an Insured Payment), (c)(vi) and
(c)(viii) of the definition of Class A Principal Remittance Amount, (B) all
amounts previously distributed to the Class 1A-1 Certificateholders in respect
of principal pursuant to Section 6.06(c)(A)(X)(xiv) and (C) all amounts
previously distributed to the Class 1A-1 Certificateholders pursuant to the last
paragraph of Section 6.06(c).
CLASS 1A-2 PRINCIPAL BALANCE: With respect to the Class 1A-2 Certificates
and as of any date of determination, the Original Class 1A-2 Principal Balance
reduced by the sum of (A) all amounts (including that portion of Insured
Payments, if any, made in respect of principal) previously distributed to the
Class 1A-2 Certificateholders in respect of principal on all previous Remittance
Dates on account of amounts described in clauses (c)(i) through (iv), inclusive,
and clauses (c)(v) (to the extent the payment pursuant to clause (c)(v) is in
respect of principal not previously covered by an Insured Payment), (c)(vi) and
(c)(viii) of the definition of Class A Principal Remittance Amount, (B) all
amounts previously distributed to the Class 1A-2 Certificateholders in respect
of principal pursuant to Section 6.06(c)(A)(X)(xv) and (C) all amounts
previously distributed to the Class 1A-2 Certificateholders pursuant to the last
paragraph of Section 6.06(c).
CLASS 1A-3 PRINCIPAL BALANCE: With respect to the Class 1A-3 Certificates
and as of any date of determination, the Original Class 1A-3 Principal Balance
reduced by the sum of (A) all amounts (including that portion of Insured
Payments, if any, made in respect of principal) previously distributed to the
Class 1A-3 Certificateholders in respect of
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principal on all previous Remittance Dates on account of amounts described in
clauses (c)(i) through (iv), inclusive, and clauses (c)(v) (to the extent the
payment pursuant to clause (c)(v) is in respect of principal not previously
covered by an Insured Payment), (c)(vi) and (c)(viii) of the definition of Class
A Principal Remittance Amount, (B) all amounts previously distributed to the
Class 1A-3 Certificateholders in respect of principal pursuant to Section
6.06(c)(A)(X)(xvi) and (C) all amounts previously distributed to the Class 1A-3
Certificateholders pursuant to the last paragraph of Section 6.06(c).
CLASS 1A-4 PRINCIPAL BALANCE: With respect to the Class 1A-4 Certificates
and as of any date of determination, the Original Class 1A-4 Principal Balance
reduced by the sum of (A) all amounts (including that portion of Insured
Payments, if any, made in respect of principal) previously distributed to the
Class 1A-4 Certificateholders in respect of principal on all previous Remittance
Dates on account of amounts described in clauses (c)(i) through (iv), inclusive,
and clauses (c)(v) (to the extent the payment pursuant to clause (c)(v) is in
respect of principal not previously covered by an Insured Payment), (c)(vi) and
(c)(viii) of the definition of Class A Principal Remittance Amount, (B) all
amounts previously distributed to the Class 1A-4 Certificateholders in respect
of principal pursuant to Section 6.06(c)(A)(X)(xvii) and (C) all amounts
previously distributed to the Class 1A-4 Certificateholders pursuant to the last
paragraph of Section 6.06(c).
CLASS 1A-5 PRINCIPAL BALANCE: With respect to the Class 1A-5 Certificates
and as of any date of determination, the Original Class 1A-5 Principal Balance
reduced by the sum of (A) all amounts (including that portion of Insured
Payments, if any, made in respect of principal) previously distributed to the
Class 1A-5 Certificateholders in respect of principal on all previous Remittance
Dates on account of amounts described in clauses (c)(i) through (iv), inclusive,
and clauses (c)(v) (to the extent the payment pursuant to clause (c)(v) is in
respect of principal not previously covered by an Insured Payment), (c)(vi) and
(c)(viii) of the definition of Class A Principal Remittance Amount, (B) all
amounts previously distributed to the Class 1A-5 Certificateholders in respect
of principal pursuant to Section 6.06(c)(A)(X)(xviii) and (C) all amounts
previously distributed to the Class 1A-5 Certificateholders pursuant to the last
paragraph of Section 6.06(c).
CLASS 1A-6 PRINCIPAL BALANCE: With respect to the Class 1A-6 Certificates
and as of any date of determination, the Original Class 1A-6 Principal Balance
reduced by the sum of (A) all amounts (including that portion of Insured
Payments, if any, made in respect of principal) previously distributed to the
Class 1A-6 Certificateholders in respect of principal on all previous Remittance
Dates on account of amounts described in clauses (c)(i) through (iv), inclusive,
and clauses (c)(v) (to the extent the payment pursuant to clause (c)(v) is in
respect of principal not previously covered by an Insured Payment), (c)(vi) and
(c)(viii) of the definition of Class A Principal Remittance Amount, (B) all
amounts previously distributed to the Class 1A-6 Certificateholders in respect
of principal pursuant to Section 6.06(c)(A)(X)(xix) and (C) all amounts
previously distributed to the Class 1A-6 Certificateholders pursuant to the last
paragraph of Section 6.06(c).
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CLASS 1A REMITTANCE AMOUNT: As of any Remittance Date, the sum of the Class
A Remittance Amount with respect to the Class 1A-1 Certificates, the Class 1A-2
Certificates, the Class 1A-3 Certificates, the Class 1A-4 Certificates, the
Class 1A-5 Certificates and the Class 1A-6 Certificates.
CLASS 1A SUB-POOL FACTOR: As of any date of determination, the then
applicable Class 1A Principal Balance divided by the Original Class 1A Principal
Balance.
CLASS 2A MAJORITY CERTIFICATEHOLDERS: The Holder or Holders of Class 2A
Certificates possessing Voting Rights in excess of 51% in the aggregate.
CLASS 2A CERTIFICATE: A Certificate denominated as a Class 2A Certificate.
CLASS 2A CERTIFICATEHOLDER: A Holder of a Class 2A Certificate.
CLASS 2A INTEREST REMITTANCE AMOUNT: As to any Remittance Date, the
interest accrued at the Class 2A Pass-Through Rate for the Accrual Period on the
outstanding Class 2A Principal Balance, plus Supplemental Interest, if any.
CLASS 2A PASS-THROUGH RATE: As to any Remittance Date, the lesser of (i)
One-Month LIBOR plus 0.31% per annum and (ii) the weighted average of the
Mortgage Rates of the Sub-Pool 2 Mortgage Loans minus, with respect to Sub-Pool
2, the sum of (a) the Servicing Fee Rate, (b) the rate at which the Annual
Trustee Expense Amount is calculated, (c) the Premium Percentage and (d) with
respect to the Remittance Dates occurring on September 25, 1997, October 27,
1997 and each Remittance Date on and after November 25, 1997, 0.65% per annum,
0.70% per annum and 0.85% per annum, respectively; provided, however that on any
Remittance Date on which the Servicer does not exercise its right to purchase
Mortgage Loans and REO Properties with respect to Sub-Pool 2 pursuant to Section
11.01, the rate provided in clause (i) will be One-Month LIBOR plus 0.71%. For
purposes of calculating the Class 2A Pass-Through Rate for any Remittance Date,
because the Sub-Pool 2 Mortgage Loans provide for the calculation of interest on
a basis other than a 360-day year and the actual number of days elapsed (an
"Actual/360 Basis") (which is the basis on which interest is calculated on the
Class 2A Certificates), the basis on which interest is computed on the Sub-Pool
2 Mortgage Loans will be deemed adjusted to an Actual/360 Basis that will result
in the same amount of interest being due as would be due using the method of
computation of interest that is used to calculate interest on the Sub-Pool 2
Mortgage Loans.
CLASS 2A PRINCIPAL BALANCE: With respect to the Class 2A Certificates and
as of any date of determination, the Original Class 2A Principal Balance reduced
by the sum of (A) all amounts (including that portion of Insured Payments, if
any, made in respect of principal) previously distributed to the Class 2A
Certificateholders in respect of principal on all previous Remittance Dates on
account of amounts described in clauses (c)(i) through (iv), inclusive, and
clauses (c)(v) (to the extent the payment pursuant to clause (c)(v) is in
respect of
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principal not previously covered by an Insured Payment), (c)(vi) and (c)(viii)
of the definition of Class A Principal Remittance Amount, (B) all amounts
previously distributed to the Class 2A Certificateholders in respect of
principal pursuant to Section 6.06(c)(B)(X)(iv) and (C) all amounts previously
distributed to the Class 2A Certificateholders pursuant to the last paragraph of
Section 6.06(c).
CLASS 2A REMITTANCE AMOUNT: As of any Remittance Date, the Class A
Remittance Amount with respect to the Class 2A Certificates.
CLASS 2A SUB-POOL FACTOR: As of any date of determination, the then
applicable Class 2A Principal Balance divided by the Original Class 2A Principal
Balance.
CLASS A CARRY-FORWARD AMOUNT: With respect to either the Class 1A or Class
2A Certificates and as to any Remittance Date, the sum of (i) the amount, if
any, by which (x) the related Class 1A or Class 2A Remittance Amount as of the
immediately preceding Remittance Date exceeded (y) the amount of the actual
distribution, exclusive of any related Insured Payments made to the related
Classes of Class A Certificateholders, made pursuant to Sections
6.06(c)(A)(X)(i) through (xii) or pursuant to 6.06(c)(A)(Y)(i) through (xii),
with respect to Sub-Pool 1, or pursuant to Sections 6.06(c)(B)(X)(i) and (ii) or
pursuant to Sections 6.06(c)(B)(Y)(i) and (ii), with respect to Sub-Pool 2, on
such immediately preceding Remittance Date and (ii) interest on the amount, if
any, described in clause (i) above, to the extent that the amount in clause (i)
represents Insured Payments made by the Certificate Insurer, at the weighted
average of the Class 1A-1 Pass-Through Rate, the Class 1A-2 Pass-Through Rate,
the Class 1A-3 Pass-Through Rate, the Class 1A-4 Pass-Through Rate, the Class
1A-5 Pass-Through Rate and the Class 1A-6 Pass-Through Rate with respect to
Sub-Pool 1, and the Class 2A Pass-Through Rate with respect to Sub-Pool 2 from
such immediately preceding Remittance Date.
CLASS A CERTIFICATE: A certificate denominated as a Class 1A-1, Class 1A-2,
Class 1A-3, Class 1A-4, Class 1A-5, Class 1A-6 or Class 2A Certificate.
CLASS A CERTIFICATEHOLDER: A Holder of a Class 1A Certificate or a Class 2A
Certificate.
CLASS A INTEREST REMITTANCE AMOUNT: Any of the Class 1A-1 Interest
Remittance Amount, the Class 1A-2 Interest Remittance Amount, the Class 1A-3
Interest Remittance Amount, the Class 1A-4 Interest Remittance Amount, the Class
1A-5 Interest Remittance Amount, the Class 1A-6 Interest Remittance Amount or
the Class 2A Interest Remittance Amount.
CLASS A PASS-THROUGH RATE: As to any Remittance Date, any of the Class 1A-1
Pass-Through Rate, the Class 1A-2 Pass-Through Rate, the Class 1A-3 Pass-Through
Rate, the Class 1A-4 Pass-Through Rate, the Class 1A-5 Pass-Through Rate, the
Class 1A-6 Pass-Through Rate or the Class 2A Pass-Through Rate.
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CLASS A PRINCIPAL BALANCE: As of any date of determination, the Class 1A
Principal Balance, with respect to Sub-Pool 1, or the Class 2A Principal
Balance, with respect to Sub-Pool 2.
CLASS A PRINCIPAL REMITTANCE AMOUNT: With respect to a Sub-Pool and as to
any Remittance Date (other than the Remittance Date described in the next
succeeding sentence), the amount required to be distributed on such Remittance
Date from available funds in respect of the related Class 1A or Class 2A
Certificates, such amount being equal to the least of (a) that amount required
to reach the Required Overcollateralization Amount with respect to such
Sub-Pool, or thereafter, to maintain such Required Overcollateralization Amount
on such Remittance Date, (b) the sum of (i) the related Class 1A or Class 2A
Principal Balance immediately prior to such Remittance Date and (ii) the amounts
described in clauses (c)(v) (to the extent the amount in clause (c)(v)
represents prior Insured Payments made by the Certificate Insurer with respect
to the related Sub-Pool or interest accrued thereon in accordance with the
definition of Class A Carry Forward Amount and (c)(vii) below) and (c) the sum
of (i) each payment of principal received by the Servicer or any Sub-Servicer
(exclusive of Curtailments, Principal Prepayments, the principal portion of
Amounts Held for Future Distribution and amounts described in clause (c)(iii)
hereof) during the related Due Period, including any Excess Payments, (ii) all
Curtailments and all Principal Prepayments received by the Servicer during such
related Due Period, (iii) the principal portion of all Insurance Proceeds,
Released Mortgaged Property Proceeds and Net Liquidation Proceeds received
during the related Due Period; (iv) an amount equal to the Unrecovered Class A
Portion with respect to the related Sub-Pool; (v) the Class A Carry-Forward
Amount with respect to the related Sub-Pool; (vi) (a) that portion of the
purchase price (as indicated in Section 2.05(b)) actually received by the
Trustee of any repurchased Mortgage Loan with respect to the related Sub-Pool
which represents principal and (b) the principal portion of any Substitution
Adjustments deposited in the Principal and Interest Account with respect to the
related Sub-Pool as of the related Determination Date; (vii) any amounts
recovered from the related Class 1A or Class 2A Certificateholders during the
related Due Period that constituted a Monthly Payment on a related Mortgage Loan
or an Advance with respect to the related Sub-Pool that was recovered as a
voidable preference by a trustee in bankruptcy pursuant to the United States
Bankruptcy Code in accordance with a final, nonappealable order of a court
having competent jurisdiction; and (viii) the amount, if any, by which (a) the
Class 1A or Class 2A Principal Balance with respect to the related Class 1A or
Class 2A Certificates immediately prior to such Remittance Date minus the
amounts to be distributed on such Remittance Date pursuant to clauses (c)(i),
(ii), (iii) and (iv) above and pursuant to Sections 6.06(c)(A)(X)(xiv) through
(xix) with respect to Sub-Pool 1 or Section 6.06(c)(B)(X)(iv) with respect to
Sub-Pool 2 and applied to reduce the related Class 1A or Class 2A Principal
Balance, exceeds (b) the related Scheduled Class A Principal Balance for such
Remittance Date as set forth in the related Principal Payment Table. As to the
final Remittance Date in connection with the purchase by the Servicer of all the
Mortgage Loans and REO Properties pursuant to Section 11.01, the amount of
principal required to be distributed on such Remittance Date from available
funds in respect of the related Class A Certificates, such amount being equal to
the amount described in clause (b) of the immediately preceding sentence with
respect to such Remittance Date.
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CLASS A REMITTANCE AMOUNT: For any Class of Class A Certificates and as to
any Remittance Date, the sum of (i) the related Class A Principal Remittance
Amount and (ii) the related Class A Interest Remittance Amount.
CLASS R CERTIFICATE: A Certificate denominated as a Class R Certificate.
CLASS R CERTIFICATEHOLDER: A Holder of a Class R Certificate.
CLOSING DATE: September 25, 1996.
CODE: The Internal Revenue Code of 1986.
COMBINED LOAN-TO-VALUE RATIO OR CLTV: With respect to any Sub-Pool 1
Mortgage Loan, the sum of the original principal balance of such Sub-Pool 1
Mortgage Loan and the outstanding principal balance of any related First Lien as
of the date of origination of the Sub-Pool 1 Mortgage Loan, divided by the
lesser of (i) the value of the related Mortgaged Property based upon the
appraisal made at the origination of the Sub-Pool 1 Mortgage Loan or (ii) the
purchase price of the Mortgaged Property if the Sub-Pool 1 Mortgage Loan
proceeds are used to purchase the Mortgaged Property.
COMPENSATING INTEREST: As defined in Section 6.10.
CROSS-OVER DATE: With respect to each Sub-Pool, the date on and after which
the related Subordinated Amount is reduced to zero.
CURTAILMENT: With respect to a Mortgage Loan, any payment of principal
received during a Due Period as part of a payment that is in excess of four
times the amount of the Monthly Payment due for such Due Period and which is not
intended to satisfy the Mortgage Loan in full, nor is intended to cure a
delinquency.
CUSTODIAL AGREEMENT: The agreement for the retention of the Trustee's
Mortgage Files initially in the form attached as Exhibit L.
CUSTODIAN: The custodian appointed pursuant to a Custodial Agreement and
Section 12.12, which is not affiliated with the Servicer or the Depositor which
initially shall be LaSalle National Bank.
CUT-OFF DATE: September 1, 1996.
CUT-OFF DATE PRINCIPAL BALANCE: With respect to any Initial Mortgage Loan,
the outstanding principal balance of such Mortgage Loan as of the close of
business on the Cut-off Date.
DEFINITIVE CERTIFICATES: As defined in Section 4.02(e).
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DELETED MORTGAGE LOAN: A Mortgage Loan replaced by a Qualified Substitute
Mortgage Loan.
DELINQUENCY CALCULATION AMOUNT: With respect to any Determination Date and
with respect to Sub-Pool 1, the sum of:
(a) 5.375% of the aggregate Principal Balance of the Sub-Pool 1
Mortgage Loans that, as of the end of the last Business Day of the month
preceding such Determination Date, are 30 to 59 days delinquent;
(b) 10.75% of the aggregate Principal Balance of the Sub-Pool 1
Mortgage Loans that, as of the end of the last Business Day of the month
preceding such Determination Date, are 60 to 89 days delinquent;
(c) 21.5% of the aggregate Principal Balance of the Sub-Pool 1
Mortgage Loans that, as of the end of the last Business Day of the month
preceding such Determination Date, are 90 or more days delinquent; and
(d) without duplication of the amounts determined under clauses (a),
(b) and (c) above, 21.5% of the aggregate Principal Balance of all REO
Property with respect to Sub-Pool 1 held by the Servicer as of the end of
the last Business Day of the month preceding such Determination Date.
With respect to any Determination Date and with respect to Sub-Pool 2, the
sum of:
(a) 5.375% of the aggregate Principal Balance of the Sub-Pool 2
Mortgage Loans that, as of the end of the last Business Day of the month
preceding such Determination Date, are 30 to 59 days delinquent;
(b) 10.75% of the aggregate Principal Balance of the Sub-Pool 2
Mortgage Loans that, as of the end of the last Business Day of the month
preceding such Determination Date, are 60 to 89 days delinquent;
(c) 21.5% of the aggregate Principal Balance of the Sub-Pool 2
Mortgage Loans that, as of the end of the last Business Day of the month
preceding such Determination Date, are 90 or more days delinquent; and
(d) without duplication of the amounts determined under clauses (a),
(b) and (c) above, 21.5% of the aggregate Principal Balance of all REO
Property with respect to Sub-Pool 2 held by the Servicer as of the end of
the last Business Day of the month preceding such Determination Date.
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DEPOSITOR: Superior Bank FSB, a federally chartered stock savings bank, and
any successor thereto.
DEPOSITOR'S YIELD: For each Mortgage Loan, the prepayment penalties and
premiums collected on such Mortgage Loan. The Depositor's Yield is retained by
the Depositor and is not part of the Trust Fund.
DEPOSITORY: The initial Depository shall be The Depository Trust Company,
the nominee of which is CEDE & Co., as the registered Holder of the Class 1A and
Class 2A Certificates. The Depository shall at all times be a "clearing
corporation" as defined in Section 8-102(3) of the Uniform Commercial Code of
the State of New York.
DEPOSITORY PARTICIPANT: A broker, dealer, bank or other financial
institution or other Person for whom from time to time a Depository effects
book-entry transfers and pledges of securities deposited with the Depository.
DETERMINATION DATE: The 22nd day of each month (or if such day is not a
Business Day, the immediately following Business Day but in no event fewer than
two Business Days prior to the Remittance Date immediately following such 22nd
day).
DIRECTLY OPERATE: With respect to any REO Property relating to a Sub-Pool 1
Multifamily Loan or Sub-Pool 1 Mixed Use Loan, the furnishing or rendering of
services to the tenants thereof, the management or operation of such REO
Property, the holding of such REO Property primarily for sale to customers, the
performance of any construction work thereon or any use of such REO Property in
a trade or business conducted by the Trust Fund REMIC other than through an
independent contractor; provided, however, that the Trustee (or the Servicer or
any Subservicer on behalf of the Trustee) shall not be considered to Directly
Operate an REO Property solely because the Trustee (or the Servicer or any
Subservicer on behalf of the Trustee) establishes rental terms, chooses tenants,
enters into or renews leases, deals with taxes and insurance, or makes decisions
as to repairs or capital expenditures with respect to such REO Property.
DISCOUNT MORTGAGE LOAN: Each Sub-Pool 1 Mortgage Loan or Qualified
Substitute Mortgage Loan with a Mortgage Rate that is less than the sum of the
Class 1A-6 Pass-Through Rate, the Servicing Fee Rate, the rate at which the
Annual Trustee Expense Amount is calculated and the Premium Percentage.
DISQUALIFIED ORGANIZATION: Any of the following (i) the United States or
any possession thereof, any State or any political subdivision thereof, or any
agency or instrumentality of any of the foregoing (other than an instrumentality
which is a corporation if all of its activities are subject to tax, and, except
for the FHLMC, a majority of its board of directors is not selected by such
governmental unit), (ii) a foreign government, international organization or any
agency or instrumentality of either of the foregoing, (iii) any organization
(except certain farmer's cooperatives described in Section 521 of the Code)
which is exempt
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from the tax imposed by Chapter 1 of the Code unless such organization is
subject to the tax imposed by Section 511 of the Code, (iv) rural electric and
telephone cooperatives described in Section 1381 of the Code or (v) any other
Person so designated by the Trustee based upon an Opinion of Counsel provided to
the Trustee that the holding of any ownership interest in a Residual Certificate
by such Person may cause the Trust Fund REMIC or any Person having an ownership
interest in any Class of Certificates, other than such Person, to incur
liability for any federal tax imposed under the Code that would not otherwise be
imposed but for the transfer of an ownership interest in the Residual
Certificate to such Person. The terms "United States," "State" and
"international organization" shall have the meanings set forth in Section 7701
of the Code.
DUE DATE: The day of the month on which the Monthly Payment is due from the
Mortgagor on a Mortgage Loan.
DUE PERIOD: With respect to each Remittance Date, the period commencing on
the second day of the month immediately preceding the month in which such
Remittance Date occurs and ending on the first day of the month in which such
Remittance Date occurs.
ELIGIBLE ACCOUNT: Either (A) a segregated account or accounts maintained
with an institution whose deposits are insured by and held up to the limits
insured by the Bank Insurance Fund or the Savings Association Insurance Fund of
the FDIC, the unsecured and uncollateralized debt obligations of which shall be
rated "A" or better by S&P and A2 or better by Moody's and in one of the two
highest short-term rating categories by S&P and the highest short term rating
category by Moody's, and which is either (i) a federal savings and loan
association duly organized, validly existing and in good standing under the
federal banking laws, (ii) an institution duly organized, validly existing and
in good standing under the applicable banking laws of any state, (iii) a
national banking association duly organized, validly existing and in good
standing under the federal banking laws, (iv) a principal subsidiary of a bank
holding company, or (v) approved in writing by the Certificate Insurer, Moody's
and S&P or (B) a trust account or accounts (which shall be a "special deposit
account") maintained with the trust department of a federal or state chartered
depository institution or trust company, having capital and surplus of not less
than $50,000,000, acting in its fiduciary capacity. Any Eligible Accounts
maintained with the Trustee shall conform to the preceding clause (B).
EVENT OF DEFAULT: As described in Section 10.01.
EVENT OF NONPAYMENT: An event of nonpayment shall occur with respect to
each Sub-Pool and with respect to any Remittance Date if (i) on or prior to the
related Cross-Over Date, the amounts remitted by the Servicer and available to
the Trustee pursuant to Sections 5.04(i), 6.05(e), 6.09, 6.10 and 6.16 (to the
extent not included in 5.04(i)) for deposit in the related Certificate Account
that are not subject to an automatic stay under Section 362 of the United States
Bankruptcy Code pursuant to an order of a United States bankruptcy court of
competent jurisdiction, plus the amount of any Net Excess Spread from the other
Sub-Pool, plus the amount of any Excess Principal from the other Sub-Pool, plus,
in the case of the Class 2A
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Certificates, the Supplemental Interest for such Remittance Date, if any, plus
any amounts on deposit in the related Reserve Account prior to the related
Cross-Over Date, plus the amount to be paid pursuant to the last paragraph of
Section 6.06(c) (if any), will not, taken together, be sufficient to pay the sum
of (x) all of the related Class A Remittance Amount (exclusive of any related
Class A Carry-Forward Amount representing amounts previously paid to the related
Class A Certificateholders as Insured Payments, or representing interest accrued
in respect of such Insured Payments) and (y) the related Monthly Premium to be
withdrawn from the related Certificate Account to be paid to the Certificate
Insurer pursuant to Section 6.02(i) in respect of such Remittance Date, or (ii)
after the related Cross-Over Date, the related Available Remittance Amount
remitted by the Servicer to the Trustee pursuant to Section 5.04(i) plus that
additional portion of the Amount Available constituting Excess Spread available
to pay the related Class A Interest Remittance Amount pursuant to Sections
6.06(c)(A)(Y)(i) through (vi) with respect to Sub-Pool 1, and Section
6.06(c)(B)(Y)(i) with respect to Sub-Pool 2, the amounts remitted by the
Servicer to the Trustee pursuant to Sections 6.05(e), 6.09, 6.10 and 6.16 (to
the extent not included in 5.04(i)) for deposit in the related Certificate
Account that are not subject to an automatic stay under Section 362 of the
United States Bankruptcy Code pursuant to an order of a United States bankruptcy
court of competent jurisdiction, will not, taken together, be sufficient to pay
the sum of (x) all of the related Class A Remittance Amount (exclusive of any
related Class A Carry-Forward Amount representing amounts previously paid to the
related Class A Certificateholders, as Insured Payments, or representing
interest accrued in respect of such Insured Payments) and (y) the related
Monthly Premium to be withdrawn from the related Certificate Account to be paid
to the Certificate Insurer pursuant to Section 6.02(i) in respect of such
Remittance Date, or (iii) the sum of all Realized Losses with respect to such
Sub-Pool since the Closing Date exceeds 75% of the related Subordinated Amount
as of November 25, 1996.
EXCESS PAYMENTS: With respect to a Due Period, any principal amounts
received on a Mortgage Loan in excess of the principal amount included in the
Monthly Payment due on the Due Date in such Due Period which does not constitute
either a Curtailment or a Principal Prepayment.
EXCESS PRINCIPAL: With respect to any Sub-Pool and for a particular
Remittance Date, the lesser of (i) the portion, if any, of the Available
Principal Amount for such Sub-Pool that is not required to be included in the
related Class A Principal Remittance Amount for such Sub-Pool for such
Remittance Date as a result of the application of clause (a) of the definition
of Class A Principal Remittance Amount and (ii) the amount of such portion
described in clause (i) remaining after the application of the related Available
Remittance Amount to cover the Required Payments for such Sub-Pool.
EXCESS PROCEEDS: With respect to any Mortgage Loan (including a Mortgage
Loan as to which the related Mortgaged Property has become an REO Property) that
became a Liquidated Mortgage Loan during any Due Period, the excess, if any, of
(a) the total Net Liquidation Proceeds received in respect thereof during such
Due Period, over (b) the Principal Balance of such Mortgage Loan as of the date
such Mortgage Loan became a
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Liquidated Mortgage Loan plus interest thereon at the Mortgage Rate from the
date through which interest was last paid by the Mortgagor or advanced by the
Servicer to but not including the Due Date in such Due Period.
EXCESS SPREAD: With respect to Sub-Pool 1 and for a particular Remittance
Date, the sum of (a) the excess of (x) all payments received or advanced on
account of interest on the Sub-Pool 1 Mortgage Loans during the related Due
Period over (y) the sum of (i) the Class 1A Interest Remittance Amount for such
Remittance Date, (ii) the Sub-Pool 1 Annual Trustee Expense Amount for such
Remittance Date, (iii) the Monthly Premium for such Remittance Date and (iv) the
Servicing Fee for such Remittance Date and (b) with respect to the October 25,
1996 and November 25, 1996 Remittance Dates, Excess Spread shall also include an
amount to be determined by the Certificate Insurer and deposited into the
Sub-Pool 1 Interest Coverage Account by the Depositor on the Closing Date.
With respect to Sub-Pool 2 and for a particular Remittance Date, the sum of
(a) the excess of (x) all payments received or advanced on account of interest
on the Sub-Pool 2 Mortgage Loans during the related Due Period over (y) the sum
of (i) the Class 2A Interest Remittance Amount for such Remittance Date, (ii)
the Sub-Pool 2 Annual Trustee Expense Amount for such Remittance Date, (iii) the
Monthly Premium for such Remittance Date and (iv) the Servicing Fee for such
Remittance Date and (b) with respect to the October 25, 1996 and November 25,
1996 Remittance Dates, Excess Spread shall also include an amount to be
determined by the Certificate Insurer and deposited into the Sub-Pool 2 Interest
Coverage Account by the Depositor on the Closing Date.
FDIC: The Federal Deposit Insurance Corporation and any successor thereto.
FHLMC: The Federal Home Loan Mortgage Corporation and any successor
thereto.
FIDELITY BOND: As described in Section 5.09.
FIRST LIEN: With respect to any Sub-Pool 1 Mortgage Loan which is secured
by a second priority lien, the Mortgage Loan relating to the corresponding
Mortgaged Property having a first priority lien.
FNMA: The Federal National Mortgage Association and any successor thereto.
FUNDING PERIOD: With respect to each Sub-Pool, the period beginning on the
Closing Date and ending on the earlier of the date on which (a) the amount on
deposit in the related Pre-Funding Account is zero or (b) the close of business
on November 25, 1996.
GROSS MARGIN: With respect to each Sub-Pool 2 Mortgage Loan, the fixed
percentage amount set forth in the related Mortgage Note to be added to the
related Index to
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determine the Mortgage Rate on each Adjustment Date, and which is set forth in
the related Mortgage Loan Schedule.
INDEX: With respect to the Sub-Pool 2 Mortgage Loans, the index for the
adjustment of the Mortgage Rate set forth as such in the related Mortgage Note,
such index being either (i) the weekly average yield on United States Treasury
Securities adjusted to a constant maturity of one year, as published in the
Federal Reserve Statistical Release H.15 (519), as most recently announced as of
a date 45 days preceding such Mortgage Loan's Adjustment Date (the "One-Year
Treasury Index") or (ii) a per annum rate equal to the average of interbank
offered rates for six-month U.S. dollar-denominated deposits in the London
market based on quotations of major banks as published in The Wall Street
Journal and as most recently available as of the date specified in the related
mortgage note (the "Six-Month LIBOR Index"). If the applicable Index becomes
unavailable, the Servicer, on behalf of the Trustee, will select an alternative
index for mortgage loans on single family residential properties, based upon
comparable information, over which it has no control and which is readily
verifiable by mortgagors.
INDEPENDENT PERSON: When used with respect to any specified Person, any
such Person who (a) is in fact independent of the Depositor, the Servicer and
their respective Affiliates, (b) does not have any direct financial interest in
or any material indirect financial interest in any of the Depositor or the
Servicer or any Affiliate thereof, and (c) is not connected with the Depositor
or the Servicer or any Affiliate thereof as an officer, employee, promoter,
underwriter, trustee, partner, director or Person performing similar functions;
provided, however, that a Person shall not fail to be Independent of the
Depositor or the Servicer or any Affiliate thereof solely because such Person is
the beneficial owner of 1% or less of any class of securities issued by the
Depositor or the Servicer or any Affiliate thereof, as the case may be.
INITIAL ADJUSTMENT DATE: With respect to each Sub-Pool 2 Mortgage Loan, the
first adjustment date following the origination of such Mortgage Loan.
INITIAL MORTGAGE RATE: With respect to each Sub-Pool 2 Mortgage Loan, the
Mortgage Rate in effect prior to the Initial Adjustment Date.
INITIAL MORTGAGE LOAN: A Mortgage Loan assigned and transferred to the
Trustee on the Closing Date.
INITIAL MORTGAGE LOANS: Collectively, the Initial Mortgage Loans.
INITIAL RESERVE ACCOUNT DEPOSIT: With respect to each Sub-Pool, the amount,
if any, deposited by the Depositor in the related Reserve Account on the Closing
Date pursuant to Section 6.14, which amount is $1,447,500 for Sub-Pool 1, and
$310,000 for Sub-Pool 2.
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INSURANCE AGREEMENT: The agreement dated as of the Closing Date by and
among the Certificate Insurer, the Depositor, the Servicer and the Trustee, as
amended from time to time by the parties thereto, relating to, among other
things, the Premium Percentage.
INSURANCE PROCEEDS: Proceeds paid to the Trustee or the Servicer by any
insurer (except the Certificate Insurer) or by the Servicer pursuant to a
deductible clause under a blanket policy insuring against fire and hazards of
extended coverage on all of the Mortgage Loans pursuant to Section 5.08, in
either event pursuant to any insurance policy covering a Mortgage Loan,
Mortgaged Property, or REO Property or any other insurance policy net of any
expenses which are incurred by the Servicer or the Trustee in connection with
the collection of such proceeds and not otherwise reimbursed to the Servicer,
other than proceeds to be applied to the restoration or repair of the Mortgaged
Property, or released to the Mortgagor in accordance with customary first and
second mortgage servicing procedures in the case of Sub-Pool 1 Mortgage Loans
and customary first mortgage servicing procedures in the case of Sub-Pool 2
Mortgage Loans.
INSURED PAYMENT: With respect to each Sub-Pool and as of each Remittance
Date, the amount, if any, by which (1) the related Class A Remittance Amount
(excepting clause (c)(vi) of the definition of Class A Principal Remittance
Amount to the extent such amount is due but not paid by the Depositor) exceeds
(2) the sum of (a) the related Available Remittance Amount (minus the related
Monthly Premium withdrawable from the related Certificate Account to be paid to
the Certificate Insurer pursuant to Section 6.02(i)), plus (b) (I), if such
Remittance Date is prior to the related Cross-Over Date, the lower of (X) the
Excess Spread deposited into the related Certificate Account pursuant to Section
5.04(i) as of such Remittance Date, plus the Net Excess Spread from the other
Sub-Pool, if any, plus Excess Principal from the other Sub-Pool, if any, and (Y)
the related Subordinated Amount, or (II), if such Remittance Date is on or after
the related Cross-Over Date, that additional portion of the Amount Available
constituting Excess Spread with respect to the related Sub-Pool available to pay
the related Class A Interest Remittance Amount pursuant to Sections
6.06(c)(A)(Y)(i) through (vi) with respect to Sub-Pool 1 and Section
6.06(c)(B)(Y)(i) with respect to Sub-Pool 2, plus (c) any amount transferred
from the related Reserve Account to the related Certificate Account pursuant to
Section 6.14(c), plus (d) the aggregate amount of any previous Insured Payments
for which the Certificate Insurer has not been reimbursed pursuant to Section
6.06(b), together with that portion of the amounts described in the preceding
clause (1) that represents interest accrued in respect of such Insured Payments
in accordance with the definition of Class A Carry-Forward Amount; provided,
however, that the determination of Insured Payments shall not be affected in any
way by any recharacterization of the transactions contemplated by this Agreement
as a financing in any bankruptcy, insolvency or similar proceeding to which the
Depositor may be subject and the related Available Remittance Amount shall for
the purpose of this definition be deemed to be decreased by the amount thereof
that has been deposited in the related Certificate Account but may not be
withdrawn therefrom pursuant to an order of a United States bankruptcy court of
competent jurisdiction imposing a stay pursuant to Section 362 of the United
States Bankruptcy Code.
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INTEREST COVERAGE ACCOUNT: With respect to each Sub-Pool, the Account
established and maintained pursuant to Section 6.13, which must be an Eligible
Account. With respect to Sub-Pool 1, the Interest Coverage Account shall be
known as the Sub-Pool 1 Interest Coverage Account and with respect to Sub-Pool
2, the Interest Coverage Account shall be known as the Sub-Pool 2 Interest
Coverage Account.
INTEREST COVERAGE ADDITION: With respect to the related Sub-Pool and as to
any Remittance Date, the sum of the amounts described in Sections 6.13(b) and
6.13(c).
INTEREST COVERAGE AMOUNT: With respect to each Sub-Pool, the amount to be
paid by the Depositor to the Trustee for deposit into the related Interest
Coverage Account pursuant to Section 6.12(a) on the Closing Date, which amount
is $1,397,823.55 for Sub-Pool 1, and $733,463.76 for Sub-Pool 2.
LIQUIDATED MORTGAGE LOAN: Any defaulted Mortgage Loan or REO Property as to
which the Servicer has determined that all amounts which it reasonably and in
good faith expects to recover have been recovered from or on account of such
Mortgage Loan or REO Property.
LIQUIDATION PROCEEDS: Any cash amounts received in connection with the
liquidation of defaulted Mortgage Loans, whether through trustee's sale,
foreclosure sale, REO Disposition or otherwise, and any other amounts required
to be deposited in the Principal and Interest Account pursuant to Section 5.10.
LOAN-TO-VALUE RATIO: The fraction, expressed as a percentage, the numerator
of which is the original Principal Balance of the related Mortgage Loan and the
denominator of which is the Appraised Value at the time of origination of the
related Mortgaged Property.
MAJORITY CERTIFICATEHOLDERS: With respect to Sub-Pool 1, the Class 1A
Majority Certificateholders possessing Voting Rights in excess of 51% in the
aggregate. With respect to Sub-Pool 2, the Class 2A Majority Certificateholders
possessing Voting Rights in excess of 51% in the aggregate.
MAXIMUM MORTGAGE RATE: With respect to each Sub-Pool 2 Mortgage Loan, the
maximum rate of interest set forth in the related Mortgage Note.
MINIMUM MORTGAGE RATE: With respect to each Sub-Pool 2 Mortgage Loan, the
minimum rate of interest set forth in the related Mortgage Note.
MIXED USE PROPERTY: With respect to Sub-Pool 1 Mortgage Loans, a property
which consists of a mixed residential and commercial structure.
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MONTHLY ADVANCE: An advance made by the Servicer pursuant to Section 6.09.
MONTHLY PAYMENT: The scheduled monthly payment of principal and/or interest
required to be made by a Mortgagor on the related Mortgage Loan, as set forth in
the related Mortgage Note.
MONTHLY PREMIUM: With respect to each Sub-Pool, the monthly premium payable
to the Certificate Insurer equal to the product of (i) one-twelfth the then
applicable Premium Percentage and (ii) the then outstanding related Class 1A
Principal Balance or Class 2A Principal Balance.
MOODY'S: Moody's Investors Service, Inc. or any successor thereto.
MORTGAGE: The mortgage, deed of trust, Land Trust Mortgage or other
instrument creating a first or second lien in accordance with applicable law on
a Mortgaged Property.
MORTGAGE FILE: As described in Exhibit A annexed hereto.
MORTGAGE IMPAIRMENT INSURANCE POLICY: As described in Section 5.08.
MORTGAGE LOAN: An individual mortgage loan which is assigned and
transferred to the Trustee pursuant to this Agreement or a Subsequent Transfer
Instrument, together with the rights and obligations of a holder thereof and
payments thereon and proceeds therefrom, the Mortgage Loans originally subject
to this Agreement being identified on the Mortgage Loan Schedule annexed hereto
as Exhibits H-1 and H-2. As applicable, Mortgage Loan shall be deemed to refer
to the related REO Property.
MORTGAGE LOAN SCHEDULE: With respect to each Sub-Pool, the schedule of
Mortgage Loans attached hereto as Exhibit H-1 or H-2, as supplemented by each
schedule of Subsequent Mortgage Loans attached to a Subsequent Transfer
Instrument, as such schedule may be amended or supplemented from time to time,
such schedule identifying each Mortgage Loan by address of the Mortgaged
Property and the name of the Mortgagor and setting forth as to each Mortgage
Loan the following information: (i) the Principal Balance as of the Cut-off Date
or Subsequent Cut-off Date, (ii) the account number, (iii) the original
principal amount, (iv) the Loan-to-Value Ratio or Combined Loan-to-Value Ratio,
as the case may be, as of the date of origination of the related Mortgage Loan,
(v) the Due Date, (vi) the first date on which a Monthly Payment is due under
the Mortgage Note, (vii) the Monthly Payment, (viii) the maturity date of the
related Mortgage Note, (ix) the remaining number of months to maturity as of the
Cut-off Date or Subsequent Cut-off Date, (x) the applicable Mortgaged Property
State, (xi) the current Mortgage Rate and (xii) with respect to the Sub-Pool 2
Mortgage Loans only:
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(1) the Gross Margin, (2) the next Adjustment Date after the Cut-off Date, (3)
the Maximum Mortgage Rate, (4) the Minimum Mortgage Rate and (5) the Index.
MORTGAGE NOTE: The note or other evidence of indebtedness evidencing the
indebtedness of a Mortgagor under a Mortgage Loan.
MORTGAGE RATE: With respect to each Sub-Pool 1 Mortgage Loan, the fixed
annual rate of interest borne by the related Mortgage Note, as shown on the
related Mortgage Loan Schedule. With respect to each Sub-Pool 2 Mortgage Loan,
the annual rate of interest borne by the related Mortgage Note from time to
time.
MORTGAGED PROPERTY: A Single Family Property, Multifamily Property or Mixed
Use Property which secures a Mortgage Loan.
MORTGAGED PROPERTY STATES: Arizona, California, Colorado, Connecticut,
Delaware, District of Columbia, Florida, Georgia, Idaho, Illinois, Indiana,
Kentucky, Maryland, Michigan, Minnesota, Nevada, New Jersey, New Mexico, New
York, North Carolina, Ohio, Oregon, Pennsylvania, Utah, Virginia, Washington and
Wisconsin.
MORTGAGOR: The obligor on a Mortgage Note.
MULTIFAMILY PROPERTY: With respect to Sub-Pool 1 Mortgage Loans, a
residential property consisting of five or more dwelling units.
NET EXCESS AMOUNT AVAILABLE: With respect to any Sub-Pool and for a
particular Remittance Date, the sum of (i) the Available Remittance Amount for
such Sub-Pool (reduced by the related Monthly Premium to be paid to the
Certificate Insurer pursuant to Section 6.04) and (ii) any Insured Payments with
respect to such Sub-Pool.
NET EXCESS PRINCIPAL: With respect to any Sub-Pool and for a particular
Remittance Date, the Excess Principal for such Sub-Pool remaining after the
application thereof to cover an Available Funds Shortfall with respect to the
other Sub-Pool.
NET EXCESS SPREAD: With respect to any Sub-Pool and for a particular
Remittance Date, the Excess Spread for such Sub-Pool remaining after the
application thereof to cover an Available Funds Shortfall with respect to such
Sub-Pool.
NET LIQUIDATION PROCEEDS: Liquidation Proceeds net of (i) any
reimbursements to the Servicer made therefrom pursuant to Section 5.04(ii) and
(ii) any related accrued and unpaid Annual Trustee Expense Amounts as of the
date on which such Liquidation Proceeds were received.
NET MORTGAGE RATE: With respect to each Sub-Pool 2 Mortgage Loan, and at
any time, the per annum rate equal to the related Mortgage Rate less the
Servicing Fee Rate.
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NONRECOVERABLE ADVANCES: With respect to any Mortgage Loan, (i) any
Servicing Advance or Monthly Advance previously made and not reimbursed from
late collections pursuant to Section 5.04, or (ii) a Servicing Advance proposed
to be made in respect of a Mortgage Loan or REO Property which, in the good
faith business judgment of the Servicer would not be ultimately recoverable from
late collections, Released Mortgaged Property Proceeds, Insurance Proceeds or
Liquidation Proceeds on such Mortgage Loan or REO Property.
NON-UNITED STATES PERSON: Any Person other than a United States Person.
NOTICE: As defined in Section 6.06(b).
OFFICER'S CERTIFICATE: A certificate delivered to the Trustee signed by the
President or an Executive Vice President or a Senior Vice President or a Vice
President or an Assistant Vice President of either the Depositor or the
Servicer, as required by this Agreement.
ONE-MONTH LIBOR: With respect to the Class 1A-1 and Class 2A Certificates,
as determined by the Trustee on the second Business Day preceding the beginning
of each Accrual Period, the London interbank offered rate for the relevant
Accrual Period for one-month U.S. dollar deposits for a term equal to the
relevant Accrual Period as such rates appear on Telerate Page 3750, as of 11:00
a.m. (London time) on such date. If such rate does not appear on Telerate Page
3750, the rate for that day will be determined on the basis of the rates at
which deposits in United States dollars are offered by the Reference Banks at
approximately 11:00 a.m., London time, on that day to banks in the London
interbank market for a term equal to the relevant Accrual Period. The Trustee
will request the principal London office of each of the Reference Banks to
provide a quotation of its rate. If at least two such quotations are provided,
the rate for that day will be the arithmetic mean of the quotations. If fewer
than two quotations are provided as requested, the rate for that day will be the
arithmetic mean of the rates quoted by major banks in New York City, selected by
the Servicer, at approximately 11:00 a.m., New York City time, on that day for
loans in United States dollars to leading European banks for a term equal to the
relevant Accrual Period.
OPINION OF COUNSEL: A written opinion of counsel, who may, without
limitation, be counsel for the Servicer, reasonably acceptable to the Trustee
and experienced in matters relating to the subject of such opinion; except that
any opinion of counsel relating to (a) the qualification of the Trust Fund REMIC
as a REMIC or (b) compliance with the REMIC Provisions must be an opinion of
counsel who (i) does not have any direct financial interest or any material
indirect financial interest in the Servicer or in any Person known to a
Responsible Officer of the Trustee to be an Affiliate thereof and (ii) is not
connected with the Servicer as an officer, employee, director or person
performing similar functions.
ORIGINAL CLASS 1A PRINCIPAL BALANCE: $150,000,000.
ORIGINAL CLASS 1A-1 PRINCIPAL BALANCE: $ 67,000,000.
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ORIGINAL CLASS 1A-2 PRINCIPAL BALANCE: $10,500,000.
ORIGINAL CLASS 1A-3 PRINCIPAL BALANCE: $25,250,000.
ORIGINAL CLASS 1A-4 PRINCIPAL BALANCE: $ 9,500,000.
ORIGINAL CLASS 1A-5 PRINCIPAL BALANCE: $26,250,000.
ORIGINAL CLASS 1A-6 PRINCIPAL BALANCE: $11,500,000.
ORIGINAL CLASS 2A PRINCIPAL BALANCE: $90,000,000.
ORIGINAL POOL PRINCIPAL BALANCE: $150,498,637.06, equal to the sum of the
Original Sub-Pool 1 Principal Balance and the Original Sub-Pool 2 Principal
Balance.
ORIGINAL PRE-FUNDED AMOUNT: With respect to each Sub-Pool, the amount
deposited by the Depositor in the related Pre-Funding Account on the Closing
Date, which amount is $57,955,886.82 for Sub-Pool 1, and $35,337,717.00 for
Sub-Pool 2.
ORIGINAL SUB-POOL PRINCIPAL BALANCE: Either the Original Sub-Pool 1
Principal Balance or the Original Sub-Pool 2 Principal Balance, as applicable.
ORIGINAL SUB-POOL 1 PRINCIPAL BALANCE: The aggregate Cut-off Date Principal
Balances of the Sub-Pool 1 Initial Mortgage Loans, which amount is equal to
$93,528,661.75.
ORIGINAL SUB-POOL 2 PRINCIPAL BALANCE: The aggregate Cut-off Date Principal
Balances of the Sub-Pool 2 Initial Mortgage Loans, which amount is equal to
$56,969,975.31.
OVERCOLLATERALIZATION AMOUNT: With respect to any Sub-Pool and for a
particular Remittance Date, the excess, if any, of (i) the sum of (a) the
related Sub-Pool Principal Balance, (b) the related Pre-Funded Amount and (c)
the amount, if any, on deposit in the related Reserve Account as of the close of
business on the last day of the related Due Period over (ii) the related Class A
Principal Balance after giving effect to distributions of the related Class A
Principal Remittance Amount for such Sub-Pool on such Remittance Date.
OWNER-OCCUPIED MORTGAGED PROPERTY: A Residential Dwelling that the related
Mortgagor represented an intent to occupy as such Mortgagor's primary, secondary
or vacation residence at the origination of the Mortgage Loan.
PAYING AGENT: Initially, the Trustee, and thereafter, the Trustee or any
other Person that meets the eligibility standards for the Paying Agent specified
in Section 14.13 and is authorized by the Trustee to make payments on the
Certificates on behalf of the Trustee.
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PERCENTAGE INTEREST: With respect to a Class 1A-1, Class 1A-2, Class 1A-3,
Class 1A-4, Class 1A-5, Class 1A-6 or Class 2A Certificate, the portion of the
Class evidenced by such Certificate, expressed as a percentage rounded to four
decimal places, equivalent to a fraction the numerator of which is the
denomination represented by such Certificate and the denominator of which is the
Original Class 1A-1, Class 1A-2, Class 1A-3, Class 1A-4, Class 1A-5, Class 1A-6
or Class 2A Principal Balance, as applicable. With respect to the Class R
Certificates, the portion of the Class evidenced by such Certificate as stated
on the face thereof; provided, however, that no more than 100% Percentage
Interests in the Class R Certificates shall be outstanding at any one time.
PERIODIC RATE CAP: With respect to each Sub-Pool 2 Mortgage Loan, the
provision in each Mortgage Note that limits permissible increases and decreases
in the Mortgage Rate on any Adjustment Date, (i) with respect to the Sub-Pool 2
Mortgage Loans with a One-Year Treasury Index, to not more than two percentage
points, and (ii) with respect to the Sub-Pool 2 Mortgage Loans with a Six-Month
LIBOR Index, to not more than one percentage point.
PERMITTED INSTRUMENTS: As used herein, Permitted Instruments shall include
the following:
(i) direct general obligations of, or obligations fully and
unconditionally guaranteed as to the timely payment of principal and
interest by, the United States or any agency or instrumentality thereof,
provided such obligations are backed by the full faith and credit of the
United States, Federal Housing Administration debentures, FHLMC senior debt
obligations, and FNMA senior debt obligations, but excluding any of such
securities whose terms do not provide for payment of a fixed dollar amount
upon maturity or call for redemption;
(ii) federal funds, certificates of deposit, time and demand deposits
and banker's acceptances of any bank or trust company incorporated under
the laws of the United States or any state thereof (in each case having
maturities of less than 365 days), provided that the short-term debt
obligations of such bank or trust company at the date of acquisition
thereof have been rated "A-1" or better by S&P and Prime-1 by Moody's;
(iii) deposits of any bank or savings and loan association, provided
that the long-term unsecured debt obligations of such bank or savings and
loan association have been rated Baa3 or better by Moody's or "BBB-" or
better by S&P and which has combined capital, surplus and undivided profits
of at least $3,000,000, which deposits are insured by the Bank Insurance
Fund or the Savings Association Insurance Fund of the FDIC;
(iv) commercial paper (having original maturities of not more than 180
days) or demand notes rated "A-1" or better by S&P and Prime-1 by Moody's
and issued by an entity having a long-term rating of A2 or better by
Moody's;
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(v) investments in money market funds rated "AAAm" or "AAAm-G" by S&P
and Aaa by Moody's; and
(vi) investments approved by S&P, Moody's and the Certificate Insurer
in writing delivered to the Trustee;
provided that no instrument described hereunder shall evidence either the right
to receive (a) only interest with respect to the obligations underlying such
instrument or (b) both principal and interest payments derived from obligations
underlying such instrument and the interest and principal payments with respect
to such instrument provided a yield to maturity at par greater than 120% of the
yield to maturity at par of the underlying obligations; and provided, further,
that no instrument described hereunder may be purchased at a price greater than
par if such instrument may be prepaid or called at a price less than its
purchase price prior to stated maturity.
PERMITTED TRANSFEREE: Any transferee of a Class R Certificate other than a
Disqualified Organization or Non-United States Person.
PERSON: Any individual, corporation, partnership, joint venture,
association, joint-stock company, trust, national banking association,
unincorporated organization or government or any agency or political subdivision
thereof.
POOL PRINCIPAL BALANCE: As of any date of determination, the aggregate of
the Sub-Pool 1 Principal Balance and the Sub-Pool 2 Principal Balance.
PRE-FUNDED AMOUNT: With respect to each Sub-Pool and with respect to any
Determination Date, the amount on deposit in the related Pre-Funding Account.
PRE-FUNDING ACCOUNT: With respect to each Sub-Pool, the account established
and maintained pursuant to Section 6.12. With respect to Sub-Pool 1, the
Pre-Funding Account shall be known as the Sub-Pool 1 Pre-Funding Account and
with respect to Sub-Pool 2, the Pre-Funding Account shall be known as the
Sub-Pool 2 Pre-Funding Account.
PREMIUM PERCENTAGE: With respect to each Sub-Pool and as of any Remittance
Date, the percentage designated as such in the Insurance Agreement.
PREPAYMENT ASSUMPTION: With respect to Sub-Pool 1, 2% per annum of the then
outstanding principal balance of the Sub-Pool 1 Mortgage Loans in the first
month of the life of the Sub-Pool 1 Mortgage Loans, and an additional 1% per
annum in each month thereafter until the twenty-first month and in each month
thereafter during the life of the Sub-Pool 1 Mortgage Loans, 22% per annum each
month. With respect to Sub-Pool 2, an assumed constant rate of prepayment equal
to 24% per annum.
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PRINCIPAL AND INTEREST ACCOUNT: With respect to each Sub-Pool, the
principal and interest account established by the Servicer pursuant to Section
5.03. With respect to Sub-Pool 1, the Principal and Interest Account shall be
known as the Sub-Pool 1 Principal and Interest Account and with respect to
Sub-Pool 2, the Principal and Interest Account shall be known as the Sub-Pool 2
Principal and Interest Account.
PRINCIPAL BALANCE: With respect to any Mortgage Loan or related REO
Property, at any date of determination, (i) the Cut-off Date Principal Balance
of such Mortgage Loan (or the principal balance outstanding as of the Subsequent
Cut-off Date with respect to a Subsequent Mortgage Loan or as of the applicable
substitution date with respect to a Qualified Substitute Mortgage Loan), after
application of principal payments received on or before such Cut-off Date (or on
or before such Subsequent Cut-off Date or substitution date), minus (without
duplication) (ii) the sum of (a) the principal portion of the Monthly Payments
received during each Due Period ending prior to the most recent Remittance Date
and deposited in the related Principal and Interest Account pursuant to Section
5.03, and (b) all Principal Prepayments, Curtailments, Excess Payments,
Insurance Proceeds, Net Liquidation Proceeds, Released Mortgaged Property
Proceeds and net income from any REO Property to the extent applied by the
Servicer as recoveries of principal, which were distributed pursuant to Section
6.06 on any previous Remittance Date. The Principal Balance of any Liquidated
Mortgage Loan in the month following the month in which such loan became a
Liquidated Mortgage Loan is zero.
PRINCIPAL PAYMENT TABLE: The table with respect to each Sub-Pool set forth
as Exhibit P.
PRINCIPAL PREPAYMENT: Any payment or other recovery of principal on a
Mortgage Loan equal to the outstanding principal balance thereof, received in
advance of the final scheduled Due Date which is intended to satisfy a Mortgage
Loan in full.
PROPOSED SUBSEQUENT MORTGAGE LOAN SCHEDULE: With respect to each Sub-Pool,
the proposed schedule of mortgage loans or potential mortgage loans from which
the majority of the Subsequent Mortgage Loans will be obtained, attached hereto
as Exhibit R.
PROSPECTUS: The prospectus and prospectus supplement prepared by the
Depositor in connection with the initial issuance and sale of the Class 1A and
Class 2A Certificates.
PURCHASE PRICE: As defined in Section 5.11.
QUALIFIED MORTGAGE: "Qualified Mortgage" shall have the meaning set forth
from time to time in the definition thereof at Section 860G(a)(3) of the Code
(or any successor statute thereto).
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QUALIFIED SUBSTITUTE MORTGAGE LOAN: A Mortgage Loan substituted by the
Depositor for a Deleted Mortgage Loan pursuant to Section 2.05 or 3.03, which,
(A) with respect to any Sub-Pool 1 Mortgage Loan, (i) has a fixed
mortgage interest rate of not less than (and not more than two percentage
points higher than) the Mortgage Rate of the Deleted Mortgage Loan; (ii)
relates to the same type of Residential Dwelling as the Deleted Mortgage
Loan and has the same lien priority as the Deleted Mortgage Loan; (iii) has
a remaining term to maturity no greater than (and not more than one year
less than that of) the Deleted Mortgage Loan; (iv) has a Loan-to-Value
Ratio, or a Combined Loan-to-Value Ratio, as the case may be, no higher
than that of the Deleted Mortgage Loan; (v) has a principal balance (after
application of all payments received on or prior to the date of
substitution) equal to or less than the Principal Balance of the Deleted
Mortgage Loan as of such date; (vi) satisfies the criteria set forth from
time to time in the definition of "qualified replacement mortgage" at
Section 860G(a)(4) of the Code (or any successor statute thereto); (vii)
has the same or lower credit risk, as measured by credit risk category,
under the Depositor's underwriting guidelines; and (viii) complies with
each representation and warranty set forth in Sections 3.01, 3.02(a) and
3.02(b), and
(B) with respect to any Sub-Pool 2 Mortgage Loan, (i) has a Maximum
Mortgage Rate no lower than (and not more than two percentage points higher
than) the Maximum Mortgage Rate of the Deleted Mortgage Loan, and has a
Minimum Mortgage Rate no lower than (and not more than one percentage point
higher than) the Minimum Mortgage Rate of the Deleted Mortgage Loan; (ii)
has the same Index and Periodic Rate Cap as that of the Deleted Mortgage
Loan and a Gross Margin not less than that of the Deleted Mortgage Loan
and, if Mortgage Loans equal to 1% or more of the Pool Stated Principal
Balance of the Mortgage Loans as of the Cut-off Date have become Deleted
Mortgage Loans, not more than two percentage points more than that of the
Deleted Mortgage Loan; (iii) shall be accruing interest at a rate no lower
than and not more than 1% per annum higher than, that of the Deleted
Mortgage Loan; (iv) has a principal balance (after application of all
payments received on or prior to the date of substitution) equal to or less
than the Principal Balance of the Deleted Mortgage Loan as of such date;
(v) has a Loan-to-Value Ratio no higher than that of the Deleted Mortgage
Loan; (vi) has a remaining term to maturity no greater than (and not more
than one year less than that of) the Deleted Mortgage Loan; (vii) satisfies
the criteria set forth from time to time in the definition of "qualified
replacement mortgage" at Section 860G(a)(4) of the Code (or any successor
statute thereto); (viii) has the same or lower credit risk, as measured by
credit risk category, under the Depositor's underwriting guidelines; (ix)
has a Net Mortgage Rate (net of any portion of the interest on such
Mortgage Loan that may be retained by the Depositor) within two percentage
points of that of the Deleted Mortgage Loan; and (x) complies with each
representation and warranty set forth in Sections 3.01, 3.02(a) and
3.02(c).
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RATE SHORTFALL: With respect to any Remittance Date and each Discount
Mortgage Loan, the amount equal to (a) the excess, if any, of the Class 1A-6
Interest Remittance Amount (without regard to reduction thereof pursuant to this
definition) over the portion of the Amount Available, other than Insured
Payments, available for distribution to the Class 1A-6 Certificateholders in
respect of interest on such Remittance Date, to the extent such excess is
attributable to such Mortgage Loan being a Discount Mortgage Loan.
REALIZED LOSS: With respect to each Liquidated Mortgage Loan, an amount
(not less than zero or greater than the related Principal Balance as of the date
of liquidation) equal to the outstanding Principal Balance of such Mortgage Loan
as of the date of liquidation minus that portion of Net Liquidation Proceeds
actually distributed to Class A Certificateholders pursuant to Section 6.06(c)
in respect of such Liquidated Mortgage Loan.
RECORD DATE: The Business Day immediately preceding the related Remittance
Date, with respect to the Class 1A-1 Certificates and the Class 2A Certificates,
and the last Business Day of the month immediately preceding the month of the
related Remittance Date, with respect to all other Classes of Certificates.
REFERENCE BANKS: Such leading banks selected by the Trustee and engaged in
transactions in Eurodollar deposits in the international Eurocurrency market.
REIMBURSABLE AMOUNTS: As of any date of determination, an amount payable to
the Servicer or the Depositor with respect to (i) Monthly Advances and Servicing
Advances not previously reimbursed and (ii) any advances reimbursable pursuant
to Section 9.01 and not previously reimbursed pursuant to Section 6.03(c) or
6.06(c).
RELEASED MORTGAGED PROPERTY PROCEEDS: As to any Mortgage Loan, proceeds
received by the Servicer in connection with (a) a taking of an entire Mortgaged
Property by exercise of the power of eminent domain or condemnation or (b) any
release of part of the Mortgaged Property from the lien of the related Mortgage,
whether by partial condemnation, sale or otherwise; which are not released to
the Mortgagor in accordance with applicable law, customary mortgage servicing
procedures and this Agreement.
REMAINING NET EXCESS SPREAD: With respect to any Sub-Pool and for a
particular Remittance Date, the Net Excess Spread for such Sub-Pool remaining
after the application thereof to cover an Available Funds Shortfall with respect
to the other Sub-Pool.
REMIC: A "real estate mortgage investment conduit" within the meaning of
Section 860D of the Code.
REMIC PROVISIONS: Provisions of the federal income tax law relating to real
estate mortgage investment conduits, which appear at Sections 860A through 860G
of the Code, and any related provisions and proposed, temporary and final
Treasury regulations and published
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rulings, notices and announcements promulgated thereunder, as the foregoing may
be in effect from time to time.
REMITTANCE DATE: The 25th day of any month or if such 25th day is not a
Business Day, the first Business Day immediately following, commencing on
October 25, 1996.
RENTS FROM REAL PROPERTY: With respect to any REO Property relating to a
Sub-Pool 1 Multifamily Loan or Sub-Pool 1 Mixed Use Loan gross income of the
character described in Section 856(d) of the Code.
REO DISPOSITION: The final sale of a Mortgaged Property acquired in
foreclosure or by deed in lieu of foreclosure.
REO PROPERTY: As defined in Section 5.10.
REQUIRED OVERCOLLATERALIZATION AMOUNT: With respect to any Sub-Pool, the
Overcollateralization Amount required by the Certificate Insurer at any time and
set forth in the Insurance Agreement with respect to each Sub-Pool.
REQUIRED PAYMENTS: With respect to any Sub-Pool and for a particular
Remittance Date, the amount required to pay the Class A Interest Remittance
Amount with respect to all Classes of Class A Certificates, the Class A
Principal Remittance Amount with respect to all Classes of Class A Certificates,
the related Annual Trustee Expense Amount and the related Monthly Premium to be
paid to the Certificate Insurer pursuant to Section 6.04.
RESERVE ACCOUNT: With respect to each Sub-Pool, and as required by the
Certificate Insurer, the Account established and maintained pursuant to Section
6.14, which must be an Eligible Account. With respect to Sub-Pool 1, the Reserve
Account shall be known as the Sub-Pool 1 Reserve Account and with respect to
Sub-Pool 2, the Reserve Account shall be known as the Sub-Pool 2 Reserve
Account.
RESIDENTIAL DWELLING: A one- to four-family dwelling, a unit in a planned
unit development, a unit in a condominium development.
RESPONSIBLE OFFICER: When used with respect to the Trustee, any officer
assigned to the Asset-Backed Securities Trust Services Department (or any
successor thereto), including any Vice President, Senior Trust Officer, Trust
Officer, Assistant Trust Officer, any Assistant Secretary, any trust officer or
any other officer of the Trustee customarily performing functions similar to
those performed by any of the above officers and having direct responsibility
for the administration of this Agreement, and also, with respect to a particular
matter, any other officer, to whom such matter is referred because of such
officer's knowledge of and familiarity with the particular subject. When used
with respect to the Depositor or the Servicer, the
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President or any Executive Vice President, Senior Vice President, Vice
President, Assistant Vice President, or any Secretary or Assistant Secretary, or
any Treasurer or Assistant Treasurer.
SERIES: 1996-3.
SERVICER: Lee Servicing Company, a division of Superior Bank FSB, or any
successor appointed as provided herein.
SERVICER'S CERTIFICATE: As defined in Section 6.08.
SERVICER'S MONTHLY REMITTANCE REPORT: A report prepared by the Servicer
substantially in the form of Exhibit Q.
SERVICING ADVANCES: All customary, reasonable and necessary "out of pocket"
costs and expenses incurred in connection with a default, delinquency or other
unanticipated event by the Servicer in the performance of its servicing
obligations, including, but not limited to, the cost of (i) the preservation,
restoration and protection of the Mortgaged Property, including without
limitation advances in respect of real estate taxes and assessments and
insurance premiums on fire, hazard and flood insurance policies, (ii) any
enforcement or judicial proceedings, including foreclosures, (iii) the
management and liquidation of an REO Property, (iv) compliance with the
obligations under Sections 5.01(e), 5.02, 5.05, 5.07, 5.15 and Article XIII,
which Servicing Advances are reimbursable to the Servicer to the extent provided
in this Agreement and (v) in connection with the liquidation of a Sub-Pool 1
Mortgage Loan, expenditures relating to the purchase or maintenance of the First
Lien pursuant to Section 5.14, for all of which costs and expenses the Servicer
is entitled to reimbursement in accordance with this Agreement. Notwithstanding
anything herein to the contrary, no Servicing Advance shall be required to be
made hereunder if such Servicing Advance would, if made, constitute a
Nonrecoverable Advance. The determination by the Servicer that it has made a
Nonrecoverable Advance or that any proposed Servicing Advance, if made, would
constitute a Nonrecoverable Advance, shall be evidenced by an Officer's
Certificate delivered to the Certificate Insurer, the Depositor and the Trustee
no later than the Business Day following such determination.
SERVICING COMPENSATION: The Servicing Fee and other amounts to which the
Servicer is entitled pursuant to Section 7.03.
SERVICING FEE: As to each Mortgage Loan (including any Mortgage Loan as to
which the related Mortgaged Property has become REO Property), the annual fee
payable to the Servicer. Such fee shall be calculated and payable monthly only
from the amounts received in respect of interest on such Mortgage Loan and shall
be computed by multiplying (i) the principal balance on which interest accrues
on the Mortgage Loan by (ii) the Servicing Fee Rate and by further multiplying
the product thereof by (iii) a fraction, the numerator of which is the number of
days in the period elapsed since the date to which interest was last paid by the
Mortgagor or advanced by the Servicer and the denominator of which is the number
of days in the annual period for which interest accrues on the related Mortgage
Loan. The Servicing Fee
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is payable solely from the interest portion of (i) Monthly Payments, (ii)
Liquidation Proceeds, (iii) Insurance Proceeds or (iv) Released Mortgaged
Property Proceeds collected by the Servicer, or as otherwise provided in Section
5.04. The Servicing Fee includes any servicing fees owed or payable to any
Subservicer.
SERVICING FEE RATE: 0.65% per annum.
SERVICING OFFICER: Any officer of the Servicer involved in, or responsible
for, the administration and servicing of the Mortgage Loans whose name and
specimen signature appears on a list of servicing officers annexed to an
Officer's Certificate furnished on the Closing Date to the Trustee and the
Certificateholders by the Servicer, as such list may from time to time be
amended.
SINGLE FAMILY PROPERTY: A one- to-four family residential property or
individual condominium unit.
S&P: Standard & Poor's Ratings Services, A Division of the McGraw-Hill
Companies, Inc., or any successor thereto.
STARTUP DAY: The day designated as such pursuant to Section 13.01.
SUB-POOL: Either Sub-Pool 1 or Sub-Pool 2.
SUB-POOL FACTOR: With respect to each Sub-Pool and as of any date of
calculation, the related Sub-Pool Principal Balance after giving effect to the
distributions to be made on the related Remittance Date as of such date divided
by the sum of the Original Sub-Pool Principal Balance with respect to such
Sub-Pool and the Principal Balances of all Subsequent Mortgage Loans with
respect to such Sub-Pool as of the Subsequent Cut-off Date.
SUB-POOL PRINCIPAL BALANCE: Either the Sub-Pool 1 Principal Balance or the
Sub-Pool 2 Principal Balance.
SUB-POOL 1: (i) the Sub-Pool 1 Mortgage Loans as from time to time are
subject to this Agreement, together with the Mortgage Files relating thereto and
all proceeds thereof, (ii) such assets as from time to time are identified as
REO Property with respect to Sub-Pool 1 or are deposited in the Sub-Pool 1
Certificate Account, Sub-Pool 1 Principal and Interest Account, Sub-Pool 1
Trustee Expense Account, Sub-Pool 1 Pre-Funding Account, Sub-Pool 1 Interest
Coverage Account or Sub-Pool 1 Reserve Account, including any amounts on deposit
in the foregoing accounts and invested in Permitted Instruments, (iii) the
Trustee's rights under all insurance policies with respect to the Sub-Pool 1
Mortgage Loans required to be maintained pursuant to this Agreement and any
Insurance Proceeds with respect thereto, (iv) the Certificate Insurance Policy,
(v) Liquidation Proceeds with respect to Sub-Pool 1 Mortgage Loans and (vi)
Released Mortgaged Property Proceeds with respect to Sub-Pool 1 Mortgage Loans.
The Depositor's Yield and amounts received after the Cut-off Date in the case of
the Sub-Pool 1
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Initial Mortgage Loans, or after a Subsequent Cut-off Date in the case of the
Sub-Pool 1 Subsequent Mortgage Loans, in respect of interest accrued on the
Sub-Pool 1 Mortgage Loans on or prior to the Cut-off Date, or a Subsequent
Cut-off Date, as the case may be, do not constitute part of Sub-Pool 1.
SUB-POOL 1 CERTIFICATE ACCOUNT: The Certificate Account with respect to
Sub-Pool 1.
SUB-POOL 1 INITIAL MORTGAGE LOANS: The Initial Mortgage Loans with respect
to Sub-Pool 1.
SUB-POOL 1 INTEREST COVERAGE ACCOUNT: The Interest Coverage Account with
respect to Sub-Pool 1.
SUB-POOL 1 MORTGAGE LOANS: The Mortgage Loans subject to this Agreement
included in Sub-Pool 1.
SUB-POOL 1 MULTIFAMILY LOAN: A Sub-Pool 1 Mortgage Loan which is secured by
a residential property consisting of five or more dwelling units.
SUB-POOL 1 MIXED USE LOAN: A Sub-Pool 1 Mortgage Loan which is secured by a
mixed residential and commercial structure.
SUB-POOL 1 PRE-FUNDING ACCOUNT: The Pre-Funding Account with respect to
Sub-Pool 1.
SUB-POOL 1 PRINCIPAL AND INTEREST ACCOUNT: The Principal and Interest
Account with respect to Sub-Pool 1.
SUB-POOL 1 PRINCIPAL BALANCE: As of any date of determination, the
aggregate Principal Balances of the Sub-Pool 1 Mortgage Loans.
SUB-POOL 1 RESERVE ACCOUNT: The Reserve Account with respect to
Sub-Pool 1.
SUB-POOL 1 SUBSEQUENT MORTGAGE LOAN: A Sub-Pool 1 Mortgage Loan assigned
and transferred by the Depositor to the Trustee pursuant to Section 2.10, such
Sub-Pool 1 Mortgage Loan being identified on the related Mortgage Loan Schedule
attached to a Sub-Pool 1 Subsequent Transfer Instrument.
SUB-POOL 1 SUBSEQUENT TRANSFER INSTRUMENT: Each Subsequent Transfer
Instrument dated as of a Subsequent Transfer Date executed by the Trustee and
the Depositor substantially in the form of Exhibit T, by which Sub-Pool 1
Subsequent Mortgage Loans are transferred and assigned to the Trustee.
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SUB-POOL 1 TRUSTEE EXPENSE ACCOUNT: The Trustee Expense Account with
respect to Sub-Pool 1.
SUB-POOL 2: (i) the Sub-Pool 2 Mortgage Loans as from time to time are
subject to this Agreement, together with the Mortgage Files relating thereto and
all proceeds thereof, (ii) such assets as from time to time are identified as
REO Property with respect to Sub-Pool 2 or are deposited in the Sub-Pool 2
Certificate Account, Sub-Pool 2 Principal and Interest Account, Sub-Pool 2
Trustee Expense Account, Sub-Pool 2 Pre-Funding Account, Sub-Pool 2 Interest
Coverage Account, Sub-Pool 2 Reserve Account, and the Supplemental Interest
Account, including any amounts on deposit in the foregoing accounts and invested
in Permitted Instruments, (iii) the Trustee's rights under all insurance
policies with respect to the Sub-Pool 2 Mortgage Loans required to be maintained
pursuant to this Agreement and any Insurance Proceeds with respect thereto, (iv)
the Certificate Insurance Policy, (v) Liquidation Proceeds with respect to
Sub-Pool 2 Mortgage Loans and (vi) Released Mortgaged Property Proceeds with
respect to Sub-Pool 2 Mortgage Loans. The Depositor's Yield and amounts received
after the Cut-off Date in the case of the Sub-Pool 2 Initial Mortgage Loans, or
after a Subsequent Cut-off Date in the case of the Sub-Pool 2 Subsequent
Mortgage Loans, in respect of interest accrued on the Sub-Pool 2 Mortgage Loans
on or prior to the Cut-off Date, or a Subsequent Cut-off Date, as the case may
be, do not constitute part of Sub-Pool 2.
SUB-POOL 2 CERTIFICATE ACCOUNT: The Certificate Account with respect to
Sub-Pool 2.
SUB-POOL 2 INITIAL MORTGAGE LOANS: The Initial Mortgage Loans with respect
to Sub-Pool 2.
SUB-POOL 2 INTEREST COVERAGE ACCOUNT: The Interest Coverage Account with
respect to Sub-Pool 2.
SUB-POOL 2 MORTGAGE LOANS. The Mortgage Loans subject to this Agreement
included in Sub-Pool 2.
SUB-POOL 2 PRE-FUNDING ACCOUNT: The Pre-Funding Account with respect to
Sub-Pool 2.
SUB-POOL 2 PRINCIPAL AND INTEREST ACCOUNT: The Principal and Interest
Account with respect to Sub-Pool 2.
SUB-POOL 2 PRINCIPAL BALANCE: As of any date of determination, the
aggregate Principal Balances of the Sub-Pool 2 Mortgage Loans.
SUB-POOL 2 RESERVE ACCOUNT: The Reserve Account with respect to
Sub-Pool 2.
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SUB-POOL 2 SUBSEQUENT MORTGAGE LOAN: A Sub-Pool 2 Mortgage Loan assigned
and transferred by the Depositor to the Trustee pursuant to Section 2.10, such
Sub-Pool 2 Mortgage Loan being identified on the related Mortgage Loan Schedule
attached to a Sub-Pool 2 Subsequent Transfer Instrument.
SUB-POOL 2 SUBSEQUENT TRANSFER INSTRUMENT: Each Subsequent Transfer
Instrument dated as of a Subsequent Transfer Date executed by the Trustee and
the Depositor substantially in the form of Exhibit T, by which Sub-Pool 2
Subsequent Mortgage Loans are transferred and assigned to the Trustee.
SUB-POOL 2 TRUSTEE EXPENSE ACCOUNT: The Trustee Expense Account with
respect to Sub-Pool 2.
SUBORDINATED AMOUNT: With respect to each Sub-Pool, the amount set forth as
such in the Insurance Agreement.
SUBSERVICER: Any Person with whom the Servicer has entered into a
Subservicing Agreement and who satisfies any requirements set forth in Section
5.01(a) in respect of the qualification of a Subservicer.
SUBSERVICING AGREEMENT: Any agreement between the Servicer and any
Subservicer relating to subservicing and/or administration of certain Mortgage
Loans as provided in Section 5.01(a), a copy of which shall be delivered, along
with any modifications thereto, to the Trustee.
SUBSEQUENT CUT-OFF DATE: With respect to those Subsequent Mortgage Loans
which are transferred and assigned to the Trustee pursuant to a Subsequent
Transfer Instrument, the close of Business on the day prior to the related
Subsequent Transfer Date.
SUBSEQUENT MORTGAGE LOAN: A Sub-Pool 1 Subsequent Mortgage Loan or a
Sub-Pool 2 Subsequent Mortgage Loan.
SUBSEQUENT TRANSFER DATE: The date on which a Subsequent Mortgage Loan is
transferred and assigned to the Trustee, which date shall be no later than
November 15, 1996.
SUBSEQUENT TRANSFER INSTRUMENT: A Sub-Pool 1 Subsequent Transfer Instrument
or a Sub-Pool 2 Subsequent Transfer Instrument.
SUBSTITUTION ADJUSTMENT: As to any date on which a substitution occurs
pursuant to Sections 2.05 or 3.03, the amount (if any) by which the aggregate
principal balances (after application of principal payments received on or
before the date of substitution) of any Qualified Substitute Mortgage Loans as
of the date of substitution, are less than the aggregate
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of the Principal Balances, together with accrued and unpaid interest thereon to
the date of substitution, of the related Deleted Mortgage Loans.
SUPPLEMENTAL INTEREST: An amount to be paid to the Holders of the Class 2A
Certificateholders on each Remittance Date through the February 25, 1997
Remittance Date, equal to the excess of (1) the amount of interest due to the
Holders of the Class 2A Certificates calculated at the Class 2A Pass-Through
Rate without giving effect to clause (iii) of the definition of Class 2A
Pass-Through Rate, over (2) the amount of interest at the Class 2A Pass-Through
Rate giving effect to clause (iii) of the definition of Class 2A Pass-Through
Rate.
SUPPLEMENTAL INTEREST ACCOUNT: With respect to Sub-Pool 2, the account
established and maintained pursuant to Section 6.15.
TAX MATTERS PERSON: The Person or Persons designated from time to time to
act as the "tax matters person" (within the meaning of the REMIC Provisions).
TAX MATTERS PERSON RESIDUAL INTEREST CERTIFICATE: The interest in the Class
R Certificates held by the Tax Matters Person pursuant to Section 13.01(c).
TAX RETURN: The federal income tax return on Internal Revenue Service Form
1066, "U.S. Real Estate Mortgage Investment Conduit Income Tax Return,"
including Schedule Q thereto, Quarterly Notice to Residual Interest Holders of
REMIC Taxable Income or Net Loss Allocation, or any successor forms, to be filed
on behalf of the Trust Fund REMIC, due to its classification as a REMIC under
the REMIC Provisions, together with any and all other information reports or
returns that may be required to be furnished the Certificateholders or filed
with the Internal Revenue Service or any other governmental taxing authority
under any applicable provision of federal, state or local tax laws.
TELERATE PAGE 3750: The display page currently so designated on the Dow
Jones Telerate Service (or such other page as may replace the page on that
service for the purpose of displaying comparable rates or prices).
TERMINATION PRICE: As defined in Section 11.01.
TRANSFER AFFIDAVIT: As defined in Section 4.02(c)(ii).
TRANSFER CERTIFICATE: As defined in Section 4.02(c)(ii).
TRIGGER EVENT: With respect to Sub-Pool 1, a trigger event shall occur if
(i) with respect to any Determination Date occurring prior to August 2001, the
sum of (x) the aggregate Realized Losses with respect to Sub-Pool 1 experienced
as of such Determination Date and (y) the Delinquency Calculation Amount with
respect to such Determination Date exceeds $10,052,514.61 or (ii) with respect
to any Determination Date occurring prior to August 2006, the sum of (x) the
aggregate Realized Losses with respect to Sub-Pool 1 experienced as of such
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Determination Date and (y) the Delinquency Calculation Amount with respect
thereto exceeds $13,403,352.81.
With respect to Sub-Pool 2, a trigger event shall occur if (i) with respect
to any Determination Date occurring prior to August 2001, the sum of (x) the
aggregate Realized Losses with respect to Sub-Pool 2 experienced as of such
Determination Date and (y) the Delinquency Calculation Amount with respect to
such Determination Date exceeds $5,571,692.08 or (ii) with respect to any
Determination Date occurring prior to August 2006, the sum of (x) the aggregate
Realized Losses with respect to Sub-Pool 2 experienced as of such Determination
Date and (y) the Delinquency Calculation Amount with respect thereto exceeds
$7,399,384.62.
TRUST FUND: Collectively, Sub-Pool 1 and Sub-Pool 2.
TRUST FUND REMIC: The Trust Fund, exclusive of the Interest Coverage
Accounts and the Supplemental Interest Account.
TRUSTEE: LaSalle National Bank, or its successor in interest, or any
successor trustee appointed as herein provided.
TRUSTEE EXPENSE ACCOUNT: With respect to each Sub-Pool, the account
established and maintained by the Trustee in accordance with Section 6.03. With
respect to Sub-Pool 1, the Trustee Expense Account shall be known as the
Sub-Pool 1 Trustee Expense Account and with respect to Sub-Pool 2, the Trustee
Expense Account shall be known as the Sub-Pool 2 Trustee Expense Account.
TRUSTEE'S MORTGAGE FILE: The documents delivered to the Trustee or the
Custodian pursuant to Section 2.04.
UNITED STATES PERSON: A citizen or resident of the United States, a
corporation, partnership or other entity created or organized in, or under the
laws of, the United States or any political subdivision thereof, or an estate or
trust whose income from sources without the United States is includible in gross
income for United States federal income tax purposes regardless of its
connection with the conduct of a trade or business within the United States. The
term "United States" shall have the meaning set forth in Section 7701 of the
Code or successor provisions.
UNRECOVERED CLASS A PORTION: With respect to either the Class 1A or the
Class 2A Certificates and any Remittance Date, the excess, if any, of (A) the
related Class 1A or Class 2A Principal Balance minus the sum of (i) all amounts
(excluding that portion of Insured Payments with respect to the related
Sub-Pool, if any, to be made in respect of principal) to be distributed to the
related Class 1A or Class 2A Certificateholders in respect of principal on such
Remittance Date on account of amounts described in clauses (c)(i) through
(c)(iii), inclusive, and clauses (c)(v) (to the extent the amount in clause
(c)(v) represents a right
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to receive principal not previously covered by an Insured Payment), (c)(vi) and
(c)(viii) of the definition of Class A Principal Remittance Amount, (ii) all
other amounts to be distributed to the related Class 1A or Class 2A
Certificateholders constituting Additional Principal to the extent necessary to
reach the Required Overcollateralization Amount for the related Sub-Pool on such
Remittance Date, and (iii) all amounts distributed to the related Class 1A or
Class 2A Certificateholders as a mandatory prepayment pursuant to the last
paragraph of Section 6.06(c) (only on the Remittance Date occurring on November
25, 1996), over (B) the sum of (i) the related Sub-Pool Principal Balance plus
(ii) the related Pre-Funded Amount minus the sum of (x) the principal portion of
the Monthly Payments received during the related Due Period and deposited in the
related Principal and Interest Account pursuant to Section 5.03, and all
Principal Prepayments, Curtailments, Excess Payments, Insurance Proceeds, Net
Liquidation Proceeds, Released Mortgaged Property Proceeds and net income from
any REO Property with respect to Mortgage Loans with respect to the related
Sub-Pool to the extent applied by the Servicer as recoveries of principal in
respect of the related Mortgage Loans, which will be distributed to the related
Class 1A or Class 2A Certificateholders pursuant to Section 6.06 on such
Remittance Date, plus (y) the aggregate of, as to each related Mortgage Loan
which became a Liquidated Mortgage Loan during the related Due Period, an amount
(not less than zero or greater than the related Principal Balance) equal to the
excess, if any, of (i) the Principal Balance of such Liquidated Mortgage Loan
over (ii) the principal portion of the related Net Liquidation Proceeds included
in item (b)(iii) of the definition of Class A Principal Remittance Amount that
will actually be distributed to the related Class 1A or Class 2A
Certificateholders on such Remittance Date, pursuant to Sections
6.06(c)(A)(X)(vii) through (xii) and 6.06(c)(A)(Y)(vii) through (xii) with
respect to Sub-Pool 1 and Sections 6.06(c)(B)(X)(ii) and 6.06(c)(B)(Y)(ii) with
respect to Sub-Pool 2.
VOTING RIGHTS: The portion of the voting rights of all of the Certificates
which is allocated to any Certificate. As of any date of determination, 100% of
all of the Voting Rights with respect to Sub-Pool 1 shall be allocated among
Holders of Class 1A-1 Certificates, Class 1A-2 Certificates, Class 1A-3
Certificates, Class 1A-4 Certificates, Class 1A-5 Certificates and Class 1A-6
Certificates in the proportion that the related Class Principal Balance bears to
the sum of the Class 1A-1 Principal Balance, the Class 1A-2 Principal Balance,
the Class 1A-3 Principal Balance, the Class 1A-4 Principal Balance, the Class
1A-5 Principal Balance and the Class 1A-6 Principal Balance on such date, and
allocated among the Certificates of each such Class in accordance with their
respective Percentage Interests. As of any date of determination, 100% of all of
the Voting Rights with respect to Sub-Pool 2 shall be allocated among Holders of
Class 2A Certificates in accordance with their respective Percentage Interests.
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ARTICLE II
SALE AND CONVEYANCE OF THE TRUST FUND
Section 2.01 Sale and Conveyance of Trust Fund; Priority and
Subordination of Ownership Interests.
(a) The Depositor does hereby sell, transfer, assign, set over and convey
without recourse to the Trustee, but subject to the subordination described
below in this Section and the other terms and provisions of this Agreement, all
of the right, title and interest of the Depositor in and to the Sub-Pool 1 and
Sub-Pool 2 Mortgage Loans, together with any amounts due after the Cut-off Date
with respect to the Initial Mortgage Loans or after a Subsequent Cut-off Date
with respect to the Subsequent Mortgage Loans (other than the Depositor's
Yield), and all other assets included or to be included in the Trust Fund for
the benefit of the Certificateholders.
(b) The rights of the Certificateholders to receive payments with respect
to the Mortgage Loans in respect of the Certificates, and all ownership
interests of the Certificateholders in such payments, shall be as set forth in
this Agreement. In this regard, all rights of the Class R Certificateholders to
receive payments in respect of the Class R Certificates are subject and
subordinate to the preferential rights of the Class A Certificateholders to
receive payments in respect of the Class A Certificates, to the extent set forth
herein. In accordance with the foregoing, the ownership interest of the Class R
Certificateholders in amounts deposited in the Principal and Interest Accounts
and the Certificate Accounts from time to time shall not vest unless and until
such amounts are distributed in respect of the Class R Certificates in
accordance with the terms of this Agreement.
Section 2.02 Possession of Mortgage Files.
(a) Upon the issuance of the Certificates, and upon delivery of each
Subsequent Mortgage Loan or Qualified Substitute Mortgage Loan, the ownership of
each Mortgage Note, the Mortgage and the contents of the related Mortgage File
is vested in the Trustee for the benefit of the Certificateholders.
(b) Pursuant to Section 2.04, the Depositor has delivered or caused to be
delivered to the Trustee or the Custodian each Trustee's Mortgage File with
respect to the Initial Mortgage Loans.
Section 2.03 Books and Records.
The sale of each Mortgage Loan shall be reflected on the Depositor's
balance sheets and other financial statements as a sale of assets by the
Depositor. The Depositor shall be responsible for maintaining, and shall
maintain, a complete set of books and records for each Mortgage Loan which shall
be clearly marked to reflect the ownership of each Mortgage Loan by the Trustee
for the benefit of the Certificateholders.
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Section 2.04 Delivery of Mortgage Loan Documents.
The Depositor, contemporaneously with the delivery of this Agreement, has
delivered or caused to be delivered to the Trustee or, if a Custodian has been
appointed pursuant to Section 12.12, to the Custodian, the Certificate Insurance
Policy and each of the following documents for each Initial Mortgage Loan. The
Depositor, contemporaneously with delivery of a Subsequent Transfer Instrument,
shall deliver or cause to be delivered to the Trustee or, if a Custodian has
been appointed pursuant to Section 12.12, to the Custodian, each of the
following documents for each related Subsequent Mortgage Loan.
(a) The original Mortgage Note, showing a complete chain of endorsements
and endorsed by the last endorsee thereof, "Pay to the order of
_____________________ [or LaSalle National Bank, as Trustee under the Pooling
and Servicing Agreement, dated as of September 1, 1996, Series 1996-3,] without
recourse" and signed, by facsimile or manual signature, by such last endorsee;
(b) Either: (i) the original Mortgage, with evidence of recording thereon,
(ii) a copy of the Mortgage certified as a true copy by a Responsible Officer of
the Depositor or by the closing attorney, or by an officer of the title insurer
or agent of the title insurer which issued the related title insurance policy,
or commitment therefor, if the original has been transmitted for recording until
such time as the original is returned by the public recording office or (iii) a
copy of the Mortgage certified by the public recording office in those instances
where the original recorded Mortgage has been lost;
(c) Either: (i) (A) the original Assignment of Mortgage from the last
assignee of the related Mortgage assigned to the Trustee, with evidence of
recording thereon, or (B) an original assignment of mortgage from the last
assignee of the related Mortgage assigned in blank, or (ii) if an original
Assignment of Mortgage has not yet been provided in accordance with clause (i),
an Assignment of Mortgage to the Trustee, certified by an appropriate officer or
approved signatory of the Depositor or the closing attorney or any officer of
the title insurer that issued the related title insurance policy, or commitment
therefor, or its duly authorized agent, as being a true and complete copy of the
original of such Assignment of Mortgage to the Trustee submitted for recording
(provided, however, that an appropriate officer or approved signatory of the
Depositor may complete one or more blanket certificates attaching copies of one
or more Assignments of Mortgage to the Trustee relating thereto) or (iii) a copy
of such original Assignment of Mortgage to the Trustee, with evidence of
recording thereon, certified to be true and complete by the Depositor or the
appropriate public recording office, in those instances where such original
Assignment of Mortgage has been recorded but subsequently lost; any such
Assignment of Mortgage may be made by blanket assignments for Mortgage Loans
secured by the Mortgaged Properties located in the same county, if permitted by
applicable law;
(d) The original policy of title insurance or a true copy thereof or, if
such policy has not yet been delivered by the insurer, the commitment or binder
to issue same;
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(e) Either: (i) originals of all intervening assignments, if any, showing a
complete chain of assignment from the originator to the last assignee of the
related Mortgage, including any recorded warehousing assignments, with evidence
of recording thereon, or, (ii) if the original intervening assignments have not
yet been returned from the recording office, a copy of the originals of such
intervening assignments together with a certificate of a Responsible Officer of
the Depositor or the closing attorney or an officer of the title insurer which
issued the related title insurance policy, or commitment therefor, or its duly
authorized agent certifying that the copy is a true copy of the original of such
intervening assignments or (iii) a copy of the intervening assignment certified
by the public recording office in those instances where the original recorded
intervening assignment has been lost;
(f) Either: (i) the original assumption agreement and/or modification
agreement, if any, with evidence of recording thereon, or (ii) if the original
of such agreement has not yet been returned from the recording office, a copy of
such original, certified by an appropriate officer or approved signatory of the
Depositor or the closing attorney or any officer of the title insurer that
issued the related title insurance policy, or commitment therefor, or its duly
authorized agent, as being a true and complete copy of the original of such
assumption and modification agreement submitted for recording, or (iii) a copy
of an original assumption and modification agreement, with evidence of recording
thereon, certified to be true and complete by the Depositor or the appropriate
public recording office, in those instances where such original recorded
assumption or modification agreement has been lost; and
Within 45 days after the Closing Date, with respect to each Sub-Pool 1
Multifamily Loan and Sub-Pool 1 Mixed Use Loan, (i) if such item is a document
separate from the Mortgage either (A) an original copy of the related Assignment
of Leases, if any (with recording information indicated thereon), or (B) if the
original of such Assignment of Leases has not yet been returned from the
recording office, a copy of such original, certified by an appropriate officer
or approved signatory of the Depositor or the closing attorney or any officer of
the title insurer that issued the related title insurance policy, or commitment
therefor, or its duly authorized agent, as being a true and complete copy of the
original of such Assignment of Leases submitted for recording; (ii) an original
assignment of any related Assignment of Leases, if any (if such document is a
document separate from the Mortgage and not incorporated in the Assignment of
Mortgage), in blank and in recordable form; (iii) if such item is a document
separate from the Mortgage either (A) an original copy of all intervening
assignments of Assignment of Leases, if any (with recording information
indicated thereon), or (B) if the original of such intervening assignments of
Assignment of Leases has not yet been returned from the recording office, a copy
of such original, certified by an appropriate officer or approved signatory of
the Depositor or the closing attorney or any officer of the title insurer that
issued the related title insurance policy, or commitment therefor, or its duly
authorized agent, as being a true and complete copy of the original of such
intervening assignment of Assignment of Leases submitted for recording; (iv)
either, (A) a copy of the UCC-1 financing statement and any related continuation
statements, if any, each showing the Mortgagor as debtor and mortgagee as
secured party and each with evidence of filing thereon, or (B) if the copy of
the UCC-1 financing statement has not yet been returned from the filing office,
a copy of such UCC-1
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financing statement, certified by an appropriate officer or approved signatory
of the Depositor or the closing attorney or any officer of the title insurer
that issued the related title insurance policy, or commitment therefor, or its
duly authorized agent, as being a true and complete copy of the original of such
UCC-1 financing statement submitted for filing; and (v) an original executed
form UCC-2 or UCC-3 financing statement, in form suitable for filing, disclosing
the assignment in blank, of the security interest in the personal property
constituting security for repayment of the Mortgage Loan; and (vi) either (A) an
original copy of all intervening assignments of UCC-3 financing statements, if
any (with recording information indicated thereon), or (B) if the original of
such intervening assignments of UCC-3 financing statements has not yet been
returned from the recording office, a copy of such original, certified by an
appropriate officer or approved signatory of the Depositor or the closing
attorney or any officer of the title insurer that issued the related title
insurance policy, or commitment therefor, or its duly authorized agent, as being
a true and complete copy of the original of such intervening assignments of
UCC-3 financing statements submitted for recording. If in connection with any
Mortgage Loan the Depositor cannot deliver any such financing statement(s) with
evidence of filing thereon because such financing statement(s) has not yet been
returned by the public filing office where such financing statement has been
submitted for filing, then the Depositor shall deliver or cause to be delivered
a photocopy, or the secured party's carbon copy with the debtor's signature of
such financing statement(s) (certified by the Depositor to be a true and
complete copy) together with an officers' certificate stating that such
financing statement(s) has been dispatched to the appropriate public filing
office for filing.
Within 45 days after the Closing Date, the Servicer shall have completed
each Assignment of Mortgage and Assignment of Leases, if any, originally
assigned in blank to "LaSalle National Bank, as Trustee for AFC Mortgage Loan
Asset Backed Certificates, Series 1996-3, under the Pooling and Servicing
Agreement, dated as of September 1, 1996" and, within such period (or if later,
within 30 days after its receipt of the original recorded Mortgage and
intervening assignment), shall have submitted each such Assignment of Mortgage
to the appropriate public recording office for recording; provided however, that
the Servicer shall not be required to submit an Assignment of Mortgage for
recording with respect to a Mortgaged Property, where, in the Opinion of Counsel
to the Depositor, such recordation of the Assignment of Mortgage is not required
(i) to effect the sale and conveyance of the Mortgage Loan by the Depositor to
LaSalle National Bank, as Trustee for AFC Mortgage Loan Asset Backed
Certificates, Series 1996-3, pursuant to and as provided in Section 2.01 or the
granting and perfecting of the security interest in the Mortgage Loan pursuant
to and as provided in Section 14.15 or (ii) to defeat any ownership, security
interest or other adverse claim to the Mortgage Loan by any creditor of the
Depositor or by any purported transferee of such Mortgage Loan in a purported
transfer thereof by the Depositor subsequent to such sale and conveyance. Within
45 days after the Closing Date, the Servicer shall complete any UCC-2 or UCC-3
financing statements with respect to the Sub-Pool 1 Multifamily Loans and
Sub-Pool 1 Mixed Use Loans, such that the assignee of creditor is listed as
"LaSalle National Bank, as Trustee for AFC Mortgage Loan Asset Backed
Certificates, Series 1996-3, under the Pooling and Servicing Agreement, dated as
of September 1, 1996." The Depositor shall no later than ten Business Days after
the receipt thereof, and in any event, within one year of the Closing Date,
deliver
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or cause to be delivered to the Trustee or the Custodian: (a) the original
recorded Mortgage in those instances where a copy thereof certified by the
Depositor was delivered to the Trustee or the Custodian; (b) the original
recorded Assignment of Mortgage from the Depositor to the Trustee, which,
together with any intervening assignments of Mortgage, evidences a complete
chain of assignment from the originator to the Trustee in those instances where
copies thereof certified by the Depositor were delivered to the Trustee or the
Custodian; (c) the title insurance policy required in clause (d) above; (d) the
original recorded assumption and modification agreement in those instances in
which a copy was delivered; (e) the original Assignment of Leases in those
instances in which a copy was delivered and (f) the copy of the UCC-1 financing
statement and any related continuation statements with evidence of filing
thereon returned from the recording office if a copy was previously delivered as
set forth in clause (iii)(B) above. Notwithstanding anything to the contrary
contained in this Section 2.04, in those instances where the public recording
office retains the original Mortgage, Assignment of Mortgage or the intervening
assignments of the Mortgage, Assignment of Leases or assignment of Assignment of
Leases after it has been recorded, the Depositor shall be deemed to have
satisfied its obligations hereunder upon delivery to the Trustee or the
Custodian of a copy of such Mortgage, Assignment of Mortgage or intervening
assignments of the Mortgage, Assignment of Leases or assignment of Assignment of
Leases certified by the public recording office to be a true copy of the
recorded original thereof. From time to time the Depositor may forward or cause
to be forwarded to the Trustee or the Custodian additional original documents
evidencing an assumption or modification of a Mortgage Loan. All Mortgage Loan
documents held by the Trustee or the Custodian as to each Mortgage Loan are
referred to herein as the "Trustee's Mortgage File."
All recording required pursuant to this Section 2.04 shall be accomplished
by and at the expense of the Depositor.
Section 2.05 Acceptance by Trustee of the Trust Fund; Certain
Substitutions; Certification by Trustee.
(a) The Trustee agrees to execute and deliver on the Closing Date and on
each Subsequent Transfer Date an acknowledgment of receipt (or if a Custodian
has been appointed, a receipt by the Custodian) of, for each Mortgage Loan
transferred and assigned to the Trustee on such date, the items listed in
Section 2.04 (a) through (f) above, in the form attached as Exhibit F, and
declares that it will hold such documents and any amendments, replacements or
supplements thereto, as well as any other assets included in the definition of
Trust Fund and delivered to the Trustee or the Custodian, as Trustee in trust
upon and subject to the conditions set forth herein for the benefit of the
Certificateholders. The Trustee or Custodian (such Custodian being so obligated
under a Custodial Agreement) agrees, for the benefit of the Certificateholders,
to review (or cause to be reviewed) each Trustee's Mortgage File within 45 days
after the Closing Date (or, with respect to any Subsequent Mortgage Loan or
Qualified Substitute Mortgage Loan, within 45 days after the receipt by the
Trustee or Custodian thereof) and to deliver to the Depositor, the Servicer and
the Certificate Insurer a certification in the form attached hereto as Exhibit
F-1 to the effect that, as to each Mortgage Loan listed in the
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related Mortgage Loan Schedule (other than any Mortgage Loan paid in full or any
Mortgage Loan specifically identified in such certification as not covered by
such certification) and except as noted therein, (i) all documents required to
be delivered to it pursuant to this Agreement are in its possession or in the
possession of the Custodian on its behalf (other than items listed in Section
2.04(f) above), (ii) any and all documents delivered by the Depositor pursuant
to Section 2.04 above have been reviewed by it or the Custodian on its behalf
and have not been mutilated, damaged, torn or otherwise physically altered
(handwritten additions, changes or corrections shall not constitute physical
alteration if initialled by the Mortgagor) and relate to such Mortgage Loan,
(iii) based on its examination, or the examination of the Custodian on its
behalf, and only as to the foregoing documents, the information set forth on the
related Mortgage Loan Schedule accurately reflects the information set forth in
the Trustee's Mortgage File and (iv) each Mortgage Note has been endorsed as
provided in Section 2.04 above. The Trustee or Custodian shall be under no duty
or obligation to inspect, review or examine any such documents, instruments,
certificates or other papers to determine that they are genuine, enforceable, or
appropriate for the represented purpose or that they are other than what they
purport to be on their face. Within 375 days after the Closing Date, the Trustee
shall deliver (or cause to be delivered by the Custodian, if any) to the
Servicer, the Depositor and the Certificate Insurer a final certification in the
form attached hereto as Exhibit G covering both the Initial Mortgage Loans and
all Subsequent Mortgage Loans evidencing the completeness of the Trustee's
Mortgage Files (other than items listed in Section 2.04(f) above). Following
delivery of the Final Certification, the Trustee shall (or cause the Custodian
to) provide to the Certificate Insurer, the Depositor and the Servicer no less
frequently than quarterly, and the Servicer shall provide to the Certificate
Insurer, no less frequently than quarterly, updated certifications indicating
the then current status of exceptions, until all such exceptions have been
eliminated.
(b) If the Certificate Insurer, the Trustee or the Custodian, if any, on
the Trustee's behalf during the process of reviewing the Trustee's Mortgage
Files finds any document constituting a part of a Trustee's Mortgage File which
is not executed, has not been received, is unrelated to the Mortgage Loan
identified in the related Mortgage Loan Schedule, or does not conform to the
requirements of Section 2.04 above or the description thereof as set forth in
the related Mortgage Loan Schedule, the Trustee, the Certificate Insurer or the
Custodian (pursuant to the Custodial Agreement), as applicable, shall promptly
so notify the Servicer, the Depositor, the Certificate Insurer, the Custodian
and the Trustee. In performing any such review, the Trustee may conclusively
rely on the Depositor as to the purported genuineness of any such document and
any signature thereon. It is understood that the scope of the Trustee's review
of the Mortgage Files is limited solely to confirming that the documents listed
in Section 2.04 above (other than the items listed in Section 2.04(f) above)
have been received and further confirming that any and all documents delivered
pursuant to such Section 2.04 have been executed and relate to the Mortgage
Loans identified in the related Mortgage Loan Schedule. The Trustee shall have
no responsibility for determining whether any document is valid and binding,
whether the text of any assignment or endorsement is in proper or recordable
form, whether any document has been recorded in accordance with the requirements
of any applicable jurisdiction, or whether a blanket assignment is permitted in
any applicable jurisdiction. The Depositor agrees to use reasonable efforts to
remedy a material defect in a
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document constituting part of a Trustee's Mortgage File of which it is so
notified by the Trustee. If, however, within 60 days after the Trustee's or
Custodian's notice to it respecting such defect the Depositor has not remedied
the defect and the defect materially and adversely affects the interest of the
Certificateholders in the related Mortgage Loan or the interests of the
Certificate Insurer, the Depositor will on the Determination Date next
succeeding the end of such 60 day period (i) substitute in lieu of such Mortgage
Loan a Qualified Substitute Mortgage Loan in the manner and subject to the
conditions set forth in Section 3.03 or (ii) purchase such Mortgage Loan at a
purchase price equal to the Principal Balance of such Mortgage Loan as of the
date of purchase, plus all accrued and unpaid interest on such Mortgage Loan to
but not including the Due Date in the Due Period most recently ended prior to
such Determination Date computed at the Mortgage Rate plus the amount of any
unreimbursed Servicing Advances made by the Servicer with respect to such
Mortgage Loan, which purchase price shall be deposited in the Principal and
Interest Account (after deducting therefrom any amounts received in respect of
such repurchased Mortgage Loan and being held in the related Principal and
Interest Account for future distribution to the extent such amounts represent
recoveries of principal not yet applied to reduce the related Principal Balance
or interest (net of the Servicing Fee) for the period from and after the Due
Date in the Due Period most recently ended prior to such Determination Date).
For purposes of calculating the Available Remittance Amount for any Remittance
Date, amounts paid by the Depositor pursuant to this Section 2.05 in connection
with the repurchase or substitution of any Mortgage Loan that are on deposit in
the related Principal and Interest Account as of the Determination Date for such
Remittance Date shall be deemed to have been paid during the related Due Period
and shall be transferred to the related Certificate Account pursuant to Section
5.04(i) on the Determination Date for such Remittance Date.
(c) Upon receipt by the Trustee of a certification of a Servicing Officer
of the Servicer of such substitution or purchase and the deposit of the amounts
described above in the related Principal and Interest Account (which
certification shall be in the form of Exhibit I), the Trustee shall release (or
cause to be released) to the Servicer for release to the Depositor the related
Trustee's Mortgage File and shall execute, without recourse, representation or
warranty, and deliver such instruments of transfer presented to it by the
Servicer as shall be necessary to transfer such Mortgage Loan to the Depositor.
On the Remittance Date in January of each year, the Trustee or the
Custodian, if any, shall deliver to the Depositor, the Servicer and the
Certificate Insurer a certification detailing all releases with respect to the
Mortgage Loans for which the Trustee or the Custodian holds a Trustee's Mortgage
File pursuant to this Agreement. Such certification shall be limited to a list
of all Trustee's Mortgage Files which were released by or returned to the
Trustee or the Custodian during the prior calendar year, the date of such
release or return, the reason for such release or return, and the Person to whom
the Trustee's Mortgage File was released and the Person who returned the
Trustee's Mortgage File.
Section 2.06 [Reserved].
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Section 2.07 Execution of Certificates.
The Trustee acknowledges the assignment to it of the Mortgage Loans and the
delivery of the Trustee's Mortgage Files to it and, concurrently with such
delivery, has executed and caused to be authenticated and delivered to or upon
the order of the Depositor, in exchange for the Mortgage Loans, the Trustee's
Mortgage Files and the other assets included in the definition of the Trust
Fund, Certificates in Authorized Denominations evidencing the entire ownership
of the Trust Fund.
Section 2.08 Fees and Expenses of the Trustee.
Subject to Section 12.05 hereof, the fees and expenses of the Trustee
hereunder including (i) the annual fees of the Trustee, payable annually in
advance beginning on the Closing Date and on each anniversary thereof, (ii) any
other fees, expenses, disbursements and advances to which the Trustee is
entitled, and (iii) reimbursements to the Servicer for any advances made by the
Servicer to the related Trustee Expense Account pursuant to Section 6.03, shall
be paid from the related Trustee Expense Account in the manner set forth in
Section 6.03; provided, however, that the Depositor shall be liable for any
expenses of the Trust Fund incurred prior to the Closing Date. The fees due to
the Trustee on the Closing Date pursuant to Section 2.08(i) above shall be paid
by the Depositor on the Closing Date from its own funds.
Section 2.09 Application of Principal and Interest.
In the event that Net Liquidation Proceeds or Insurance Proceeds on a
Liquidated Mortgage Loan are less than the related Principal Balance plus
accrued interest thereon, or any Mortgagor makes a partial payment of any
Monthly Payment due on a Mortgage Loan, such Net Liquidation Proceeds, Insurance
Proceeds or partial payment shall be applied to payment of the related Mortgage
Note as provided therein, and if not so provided or if the related Mortgaged
Property has become an REO Property, first to interest accrued at the related
Mortgage Rate and then to principal.
Section 2.10 Conveyance of the Subsequent Mortgage Loans.
(a) Subject to the conditions set forth in paragraph (b) below in
consideration of the Trustee's delivery on the related Subsequent Transfer Dates
to or upon the order of the Depositor of all or a portion of the balance of
funds in the related Pre-Funding Account with respect to the related Sub-Pool,
the Depositor shall on any Subsequent Transfer Date sell, transfer, assign, set
over and convey without recourse to the Trustee but subject to the subordination
described above in Section 2.01(b) above and the other terms and provisions of
this Agreement all of the right, title and interest of the Depositor in and to
(i) the Subsequent Mortgage Loans identified on the related Mortgage Loan
Schedule attached to the related Subsequent Transfer Instrument, delivered by
the Depositor on such Subsequent Transfer Date, excepting the Depositor's Yield,
(ii) principal received and interest accruing on the Subsequent Mortgage Loans
after the related Subsequent Cut-off Date and (iii) all items with respect to
such
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Subsequent Mortgage Loans to be delivered pursuant to Section 2.04 above and the
other items in the related Mortgage Files; provided, however, that the Depositor
reserves and retains all right, title and interest in and to principal
(including Prepayments, Curtailments and Excess Payments) received and interest
accruing on the Subsequent Mortgage Loans on or prior to the related Subsequent
Cut-off Date. The transfer to the Trustee by the Depositor of the Subsequent
Mortgage Loans identified on the related Mortgage Loan Schedule shall be
absolute and is intended by the Depositor, the Servicer, the Trustee and the
Certificateholders to constitute and to be treated as a sale of the Subsequent
Mortgage Loans by the Depositor to the Trust Fund.
The purchase price paid by the Trustee from amounts released from the
Pre-Funding Account shall be one-hundred percent (100%) of the aggregate
principal balances of the Subsequent Mortgage Loans so transferred. This
Agreement shall constitute a fixed-price purchase contract in accordance with
Section 860G(a)(3)(A)(ii) of the Code.
(b) The Depositor shall transfer to the Trustee the Subsequent Mortgage
Loans and the other property and rights related thereto described in Section
2.10 (a) above, and the Trustee shall release funds from the related Pre-Funding
Account, only upon the satisfaction of each of the following conditions on or
prior to the related Subsequent Transfer Date:
(i) except with respect to the first conveyance of Subsequent Mortgage
Loans to the Trustee, the Depositor shall have provided the Trustee and the
Certificate Insurer with a timely Addition Notice and shall have provided
any information reasonably requested by the Trustee or the Certificate
Insurer with respect to the Subsequent Mortgage Loans;
(ii) the Depositor shall have delivered to the Trustee a duly executed
Subsequent Transfer Instrument, which shall include a Mortgage Loan
Schedule, listing the Subsequent Mortgage Loans;
(iii) as of each Subsequent Transfer Date, the Depositor shall not be
insolvent nor shall it have been made insolvent by such transfer nor shall
it be aware of any pending insolvency;
(iv) such sale and transfer shall not result in a material adverse tax
consequence to the Trust Fund or the Certificateholders;
(v) the Funding Period shall not have terminated;
(vi) the Depositor shall have delivered to the Trustee an Officer's
Certificate, substantially in the form of Exhibit V, confirming the
satisfaction of each condition precedent and representations specified in
this Section 2.10(b), and Section 2.10(c) with respect to Sub-Pool 1, and
Section 2.10(d) with respect to Sub-Pool 2 following and in the related
Subsequent Transfer Instrument;
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(vii) the Depositor shall have delivered to the Trustee Opinions of
Counsel addressed to the Certificate Insurer, Moody's, S&P and the Trustee
with respect to the transfer of the Subsequent Mortgage Loans substantially
in the form of the Opinions of Counsel delivered to the Certificate Insurer
and the Trustee on the Closing Date regarding certain bankruptcy and
corporate matters; and
(viii) the Trustee shall have delivered to the Certificate Insurer and
the Depositor an Opinion of Counsel addressed to the Depositor, Moody's,
S&P and the Certificate Insurer with respect to the Subsequent Transfer
Instrument substantially in the form of the Opinion of Counsel delivered to
the Certificate Insurer and the Depositor on the Closing Date regarding
certain corporate matters relating to the Trustee.
(c) Any conveyance of Sub-Pool 1 Subsequent Mortgage Loans on a Sub-Pool 1
Subsequent Transfer Date is subject to the following representations and
warranties of the Depositor: (i) each Sub-Pool 1 Subsequent Mortgage Loan must
satisfy the representations and warranties specified in the Sub-Pool 1
Subsequent Transfer Instrument and this Agreement; (ii) the Depositor will not
select such Subsequent Mortgage Loans in a manner that it believes is adverse to
the interests of the Certificateholders; (iii) the Depositor will deliver
certain opinions of counsel with respect to the validity of the conveyance of
such Subsequent Mortgage Loans; (iv) as of the respective Subsequent Cut-off
Date, the Sub-Pool 1 Subsequent Mortgage Loans will satisfy the following
criteria: (A) such Subsequent Mortgage Loan may not be 30 or more days
contractually delinquent as of the related Subsequent Cut-off Date; (B) the
original term to maturity of such Subsequent Mortgage Loan will not be less than
120 months and will not exceed 360 months; (C) such Subsequent Mortgage Loan may
not provide for negative amortization; (D) such Subsequent Mortgage Loan will
have a Mortgage Rate not less than 8.90%; (E) such Subsequent Mortgage Loan will
be underwritten in accordance with the criteria set forth under "The
Depositor--Underwriting Criteria--Sub-Pool 1" in the Prospectus; (F) such
Subsequent Mortgage Loan will have been serviced by the Servicer since
origination or purchase by the Depositor; (G) such Subsequent Mortgage Loan will
not have a Combined Loan-to-Value Ratio greater than 90%; and (H) such
Subsequent Mortgage Loans will have (1) as of the end of the Sub-Pool 1 Funding
Period, a weighted average number of months since origination of not over 4
months and (2) not over 20% by aggregate principal balance with a first payment
date in November 1996. In addition, following the purchase of any Sub-Pool 1
Subsequent Mortgage Loan by the Trust Fund, the Sub-Pool 1 Mortgage Loans
(including the Sub-Pool 1 Subsequent Mortgage Loans) as of the end of the
Sub-Pool 1 Funding Period will: (i) have a weighted average Mortgage Rate of at
least 10.85%; (ii) have a weighted average remaining term to stated maturity of
not more than 272 months and not less than 180 months; (iii) have a weighted
average Combined Loan-to-Value Ratio of not more than 80%; (iv) have not in
excess of 55% by aggregate principal balance of Sub-Pool 1 Mortgage Loans that
are Balloon Loans; (v) have no Sub-Pool 1 Mortgage Loan with a principal balance
in excess of $800,000; (vi) not have in excess of 15% by aggregate principal
balance of Sub-Pool 1 Mortgage Loans secured by nonowner occupied Mortgaged
Properties; (vii) not have a concentration of Mortgaged Properties in a single
zip code in excess of 3% by aggregate principal balance of Sub-Pool 1 Mortgage
Loans; (viii) not have in excess of 5% by aggregate principal balance of
Sub-Pool 1 Mortgage
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Loans secured by Mortgaged Properties that are condominiums; (ix) have at least
70% by aggregate principal balance of Sub-Pool 1 Mortgage Loans secured by fee
simple interests in attached or detached Single Family Properties (including
units in de minimis PUDs) and (x) not have in excess of 10% by aggregate
principal balance of Sub-Pool 1 Mortgage Loans secured by Multifamily Properties
and Mixed Use Properties. In the sole discretion of the Certificate Insurer,
Sub-Pool 1 Subsequent Mortgage Loans with characteristics varying from those set
forth above may be purchased by the Trust Fund; provided, however, that the
addition of such Mortgage Loans will not materially affect the aggregate
characteristics of Sub-Pool 1.
(d) Any conveyance of Sub-Pool 2 Subsequent Mortgage Loans on a Sub-Pool 2
Subsequent Transfer Date is subject to the following representations and
warranties of the Depositor: (i) each Subsequent Mortgage Loan must satisfy the
representations and warranties specified in the Sub-Pool 2 Subsequent Transfer
Instrument and this Agreement; (ii) the Depositor will not select such
Subsequent Mortgage Loans in a manner that it believes is adverse to the
interests of the Certificateholders; (iii) the Depositor will deliver certain
opinions of counsel with respect to the validity of the conveyance of such
Subsequent Mortgage Loans; (iv) as of the respective Subsequent Cut-off Date the
Sub-Pool 2 Subsequent Mortgage Loans will satisfy the following criteria: (A)
such Sub-Pool 2 Subsequent Mortgage Loan may not be 30 or more days
contractually delinquent as of the related Sub-Pool 2 Subsequent Cut-off Date;
(B) the original term to maturity of such Sub-Pool 2 Subsequent Mortgage Loan
will not be less than 180 months and will not exceed 360 months; (C) such
Subsequent Mortgage Loan may not provide for negative amortization; (D) such
Subsequent Mortgage Loan will have a Gross Margin not less than 3.75%; (E) such
Subsequent Mortgage Loan will be underwritten in accordance with the criteria
set forth under "The Depositor--Underwriting Criteria--Sub-Pool 2" in the
Prospectus; (F) such Subsequent Mortgage Loan will have been serviced by the
Servicer since origination or purchase by the Depositor; (G) such Subsequent
Mortgage Loan will not have a Loan-to-Value Ratio greater than 90%; and (H) such
Subsequent Mortgage Loans will have (1) as of the end of the Sub-Pool 2 Funding
Period, a weighted average number of months since origination of not over 4
months and (2) not over 20% by aggregate principal balance with a first payment
date in December 1996. In addition, following the purchase of any Sub-Pool 2
Subsequent Mortgage Loan by the Trust Fund, the Sub-Pool 2 Mortgage Loans
(including the Sub-Pool 2 Subsequent Mortgage Loans) as of the end of the
Sub-Pool 2 Funding Period will: (i) have a weighted average Gross Margin of at
least 5.60% and a weighted average coupon of at least 9%; (ii) have a weighted
average remaining term to stated maturity of not more than 359 months and not
less than 357 months; (iii) have a weighted average Loan-to-Value Ratio of not
more than 82%; (iv) have no Sub-Pool 2 Mortgage Loan with a principal balance in
excess of $800,000; (v) not have in excess of 10% by aggregate principal balance
of Sub-Pool 2 Mortgage Loans secured by non-owner occupied Mortgaged Properties;
(vi) not have a concentration of Mortgaged Properties in a single zip code in
excess of 5% by aggregate principal balance of Sub-Pool 2 Mortgage Loans; (vii)
not have in excess of 5% by aggregate principal balance of Sub-Pool 2 Mortgage
Loans secured by Mortgaged Properties that are condominiums; (viii) have at
least 75% by aggregate principal balance of Sub-Pool 2 Mortgage Loans secured by
fee simple interests in attached or detached Single Family Properties (including
units in de minimis PUDs) and (ix) will not be secured by Multifamily Properties
or
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Mixed Use Properties. In the sole discretion of the Certificate Insurer,
Sub-Pool 2 Subsequent Mortgage Loans with characteristics varying from those set
forth above may be purchased by the Trust Fund; provided, however, that the
addition of such Sub-Pool 2 Mortgage Loans will not materially affect the
aggregate characteristics of Sub-Pool 2.
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ARTICLE III
REPRESENTATIONS AND WARRANTIES
Section 3.01 Representations of the Depositor.
The Depositor hereby represents and warrants to the Trustee, the
Certificate Insurer and the Certificateholders as of the Closing Date:
(a) The Depositor is a federally chartered stock savings bank, duly
organized, validly existing and in good standing under the laws of the
United States and has all licenses necessary to carry on its business as
now being conducted and is licensed, qualified and in good standing in each
Mortgaged Property State if the laws of such state require licensing or
qualification in order to conduct business of the type conducted by the
Depositor and perform its obligations as Depositor hereunder; the Depositor
has the power and authority to execute and deliver this Agreement and to
perform in accordance herewith; the execution, delivery and performance of
this Agreement (including all instruments of transfer to be delivered
pursuant to this Agreement) by the Depositor and the consummation of the
transactions contemplated hereby have been duly and validly authorized by
all necessary action; this Agreement evidences the valid, binding and
enforceable obligation of the Depositor; and all requisite action has been
taken by the Depositor to make this Agreement valid, binding and
enforceable upon the Depositor in accordance with its terms, subject to the
effect of bankruptcy, insolvency, reorganization, moratorium and other,
similar laws relating to or affecting creditors' rights generally or the
application of equitable principles in any proceeding, whether at law or in
equity;
(b) All actions, approvals, consents, waivers, exemptions, variances,
franchises, orders, permits, authorizations, rights and licenses required
to be taken, given or obtained, as the case may be, by or from any federal,
state or other governmental authority or agency (other than any such
actions, approvals, etc. under any state securities laws, real estate
syndication or "Blue Sky" statutes, as to which the Depositor makes no such
representation or warranty), that are necessary in connection with the
purchase and sale of the Certificates and the execution and delivery by the
Depositor of the documents to which it is a party, have been duly taken,
given or obtained, as the case may be, are in full force and effect, are
not subject to any pending proceedings or appeals (administrative, judicial
or otherwise) and either the time within which any appeal therefrom may be
taken or review thereof may be obtained has expired or no review thereof
may be obtained or appeal therefrom taken, and are adequate to authorize
the consummation of the transactions contemplated by this Agreement and the
other documents on the part of the Depositor and the performance by the
Depositor of its obligations as Depositor or Servicer under this Agreement
and such of the other documents to which it is a party;
(c) The consummation of the transactions contemplated by this
Agreement will not result in the breach of any terms or provisions of the
charter or by-laws of the Depositor or result in the breach of any term or
provision of, or conflict with or constitute a default under
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or result in the acceleration of any obligation under, any material
agreement, indenture or loan or credit agreement or other material
instrument to which the Depositor or its property is subject, or result in
the violation of any law, rule, regulation, order, judgment or decree to
which the Depositor or its property is subject;
(d) Neither this Agreement nor the Prospectus nor any statement,
report or other document prepared by the Depositor and furnished or to be
furnished pursuant to this Agreement or in connection with the transactions
contemplated hereby contains any untrue statement of material fact or omits
to state a material fact necessary to make the statements contained herein
or therein not misleading;
(e) There is no action, suit, proceeding or investigation pending or,
to the best of the Depositor's knowledge, threatened against the Depositor
which, either in any one instance or in the aggregate, may result in any
material adverse change in the business, operations, financial condition,
properties or assets of the Depositor or in any material impairment of the
right or ability of the Depositor to carry on its business substantially as
now conducted, or in any material liability on the part of the Depositor or
which would draw into question the validity of this Agreement or the
Mortgage Loans or of any action taken or to be taken in connection with the
obligations of the Depositor contemplated herein, or which would be likely
to impair materially the ability of the Depositor to perform under the
terms of this Agreement;
(f) The Depositor is not in default with respect to any order or
decree of any court or any order, regulation or demand of any federal,
state, municipal or governmental agency, which default might have
consequences that would materially and adversely affect the condition
(financial or other) or operations of the Depositor or its properties or
might have consequences that would materially and adversely affect its
performance hereunder;
(g) Upon the receipt of each Trustee's Mortgage File by the Trustee
under this Agreement, the Trustee will have good title on behalf of the
Trust Fund to each Mortgage Loan (other than the Depositor's Yield and
amounts received on or after the Cut-off Date in the case of Initial
Mortgage Loans or on or after a Subsequent Cut-off Date in the case of
Subsequent Mortgage Loans in respect of interest accrued on the Mortgage
Loans prior to the Cut-off Date or prior to the Subsequent Cut-off Date, as
the case may be) and such other items comprising the corpus of the Trust
Fund free and clear of any lien (other than liens which will be
simultaneously released);
(h) The transfer, assignment and conveyance of the Mortgage Notes and
the Mortgages by the Depositor pursuant to this Agreement are not subject
to the bulk transfer laws or any similar statutory provisions in effect in
any applicable jurisdiction;
(i) The origination and collection practices used by the Depositor
with respect to each Mortgage Note and Mortgage have been in all material
respects legal, proper, prudent and customary in the first and second
mortgage origination and servicing business with respect
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to Sub-Pool 1, and legal, proper, prudent and customary in the first
mortgage origination and servicing business with respect to Sub-Pool 2; and
(j) Considering the size of each Pre-Funding Account and the frequency
of prepayments, defaults, "fall-out" due to the borrower choosing another
lender or exercising its right of rescission, defective documentation and
other circumstances that would disqualify a mortgage loan from being
purchased as a Subsequent Mortgage Loan hereunder, the mortgage loans
listed on each Proposed Subsequent Mortgage Loan Schedule do not represent
an unreasonably large pool of mortgage loans from which to obtain the
majority of the related Subsequent Mortgage Loans.
Section 3.02 Individual Mortgage Loans.
(a) With respect to the Mortgage Loans, the Depositor hereby represents and
warrants to the Trustee, the Certificate Insurer and the Certificateholders,
with respect to each Initial Mortgage Loan, as of the Closing Date, and with
respect to each Subsequent Mortgage Loan, as of the related Subsequent Transfer
Date the following, subject to Section 2.10(c) and 2.10(d) above and modified to
the extent stated therein in the case of Subsequent Mortgage Loans:
(i) The information with respect to each Mortgage Loan set forth in
the related Mortgage Loan Schedule is true and correct;
(ii) All of the original or certified documentation required to be
delivered by the Depositor to the Trustee or to the Custodian on the
Closing Date or a Subsequent Transfer Date or as otherwise provided in
Section 2.04 above has or will be so delivered as provided;
(iii) Each Mortgaged Property is improved by a Single Family Property,
Multifamily Property or Mixed Use Property, which, to the best of the
Depositor's knowledge, does not include cooperatives or mobile homes and
does not constitute other than real property under state law. To the best
of the Depositor's knowledge, no Mortgaged Property is a manufactured
housing unit, as defined in the FNMA/FHLMC Seller-Servicer's Guide;
(iv) Each Mortgage Loan is being serviced by the Servicer or one or
more Subservicers;
(v) Except with respect to liens released immediately prior to the
transfer herein contemplated, immediately prior to the transfer and
assignment herein contemplated, the Depositor held good and indefeasible
title to, and was the sole owner of, each Mortgage Loan subject to no
liens, charges, mortgages, encumbrances or rights of others; and
immediately upon the transfer and assignment herein contemplated, the
Trustee will hold good and indefeasible title to, and be the sole owner of,
each Mortgage Loan subject to no liens, charges, mortgages, encumbrances or
rights of others;
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(vi) There is no delinquent tax or assessment lien on any Mortgaged
Property, and each Mortgaged Property is free of material damage and is in
average repair;
(vii) The Mortgage Loan is not subject to any right of rescission,
set-off, counterclaim or defense, including the defense of usury, nor will
the operation of any of the terms of the Mortgage Note or the Mortgage, or
the exercise of any right thereunder, render either the Mortgage Note or
the Mortgage unenforceable in whole or in part, or subject to any right of
rescission, set-off, counterclaim or defense, including the defense of
usury, and no such right of rescission, set-off, counterclaim or defense
has been asserted with respect thereto;
(viii) There is no mechanics' lien or claim for work, labor or
material affecting any Mortgaged Property which is or may be a lien prior
to, or equal with, the lien of such Mortgage except those which are insured
against by the title insurance policy referred to in Section 3.02(a)(x)
below;
(ix) Each Mortgage Loan at the time it was made complied in all
material respects with applicable state and federal laws and regulations,
including, without limitation, usury, equal credit opportunity and
disclosure laws;
(x) With respect to each Mortgage Loan, a written commitment for a
lender's title insurance policy, issued in standard American Land Title
Association or California Land Title Association form, or other form
acceptable in a particular jurisdiction, by a title insurance company
authorized to transact business in the state in which the related Mortgaged
Property is situated, together with a condominium endorsement, if
applicable, in an amount at least equal to the original Principal Balance
of such Mortgage Loan insuring the mortgagee's interest under the related
Mortgage Loan as the holder of a valid first or second mortgage lien of
record with respect to Sub-Pool 1, or a valid first mortgage lien of record
with respect to Sub-Pool 2, on the real property described in the Mortgage,
subject only to exceptions of the character referred to in Section
3.02(a)(v) above, was effective on the date of the origination of such
Mortgage Loan, and, as of the Closing Date, such commitment will be valid
and thereafter the policy issued pursuant to such commitment shall continue
in full force and effect. With respect to each Mortgage Loan, the mortgagee
is the sole named insured of such mortgage title insurance policy, and such
mortgage title insurance policy is in full force and effect and will be in
full force and effect and inure to the benefit of the Trustee upon the
consummation of the transactions contemplated by this Agreement. No claims
have been made under such mortgage title insurance policy and no prior
holder of the related Mortgage, including the mortgagee, has done, by act
or omission, anything that would impair the coverage of such mortgage title
insurance policy;
(xi) The improvements upon each Mortgaged Property are covered by a
valid and existing hazard insurance policy with a generally acceptable
carrier that provides for fire and extended coverage representing coverage
described in Sections 5.07 and 5.08;
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(xii) A flood insurance policy is in effect with respect to each
Mortgaged Property with a generally acceptable carrier in an amount
representing coverage described in Sections 5.07 or 5.08, if and to the
extent required by such Section 5.07 or 5.08;
(xiii) Each Mortgage and Mortgage Note is the legal, valid and binding
obligation of the maker thereof and is enforceable in accordance with its
terms, except only as such enforcement may be limited by bankruptcy,
insolvency, reorganization, moratorium or other similar laws affecting the
enforcement of creditors' rights generally and by general principles of
equity (whether considered in a proceeding or action in equity or at law),
and all parties to each Mortgage Loan had full legal capacity to execute
all Mortgage Loan documents and convey the estate therein purported to be
conveyed;
(xiv) The Depositor has caused or will cause to be performed any and
all acts required to be performed to preserve the rights and remedies of
the Trustee in any insurance policies applicable to the Mortgage Loans
including, without limitation, any necessary notifications of insurers,
assignments of policies or interests therein, and establishments of
co-insured, joint loss payee and mortgagee rights in favor of the Trustee;
(xv) The terms of the Mortgage Note and the Mortgage have not been
impaired, altered or modified in any material respect, except by a written
instrument which has been recorded or is in the process of being recorded,
if necessary, to protect the interest of the Certificateholders and which
has been or will be delivered to the Trustee or the Custodian. The
substance of any such alteration or modification is reflected on the
related Mortgage Loan Schedule. Each original Mortgage was recorded, and
all subsequent assignments of the original Mortgage have been recorded in
the appropriate jurisdictions wherein such recordation is necessary to
perfect the lien thereof as against creditors of the Depositor (or, subject
to Section 2.04 above, are in the process of being recorded, or are, in the
Opinion of Counsel to the Depositor, not required to be recorded);
(xvi) No instrument of release or waiver has been executed in
connection with the Mortgage Loan, and no Mortgagor has been released, in
whole or in part;
(xvii) There are no defaults in complying with the terms of the
Mortgage, and all taxes, governmental assessments, insurance premiums,
water, sewer and municipal charges, leasehold payments or ground rents
which previously became due and owing have been paid, or an escrow of funds
has been established in an amount sufficient to pay for every such item
which remains unpaid and which has been assessed but is not yet due and
payable. Except for payments in the nature of escrow payments, including
without limitation, taxes and insurance payments, the Servicer has not
advanced funds, or induced, solicited or knowingly received any advance of
funds by a party other than the Mortgagor, directly or indirectly, for the
payment of any amount required by the Mortgage, except for interest
accruing from the date of the Mortgage Note or date of disbursement of the
Mortgage proceeds, whichever is greater, to the day which precedes by one
month the Due Date of the first installment of principal and interest;
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(xviii) There is no proceeding pending or threatened for the total or
partial condemnation of the Mortgaged Property, nor is such a proceeding
currently occurring, and such property is undamaged by waste, fire,
earthquake or earth movement, windstorm, flood, tornado or other casualty,
so as to affect adversely the value of the Mortgaged Property as security
for the Mortgage Loan or the use for which the premises were intended;
(xix) To the best of the Depositor's knowledge, all of the
improvements which were included for the purpose of determining the
appraised value of the Mortgaged Property lie wholly within the boundaries
and building restriction lines of such property, and no improvements on
adjoining properties encroach upon the Mortgaged Property;
(xx) To the best of the Depositor's knowledge, no improvement located
on or being part of the Mortgaged Property is in violation of any
applicable zoning law or regulation. To the best of the Depositor's
knowledge, all inspections, licenses and certificates required to be made
or issued with respect to all occupied portions of the Mortgaged Property
and, with respect to the use and occupancy of the same, including but not
limited to certificates of occupancy and fire underwriting certificates,
have been made or obtained from the appropriate authorities and the
Mortgaged Property is lawfully occupied under applicable law;
(xxi) The proceeds of the Mortgage Loan have been fully disbursed, and
there is no obligation on the part of the mortgagee to make future advances
thereunder. Any and all requirements as to completion of any on-site or
off-site improvements and as to disbursements of any escrow funds therefor
have been complied with. All costs, fees and expenses incurred in making or
closing or recording the Mortgage Loans were paid;
(xxii) Except with respect to certain of the Sub-Pool 1 Multifamily
Loans and Sub-Pool 1 Mixed Use Loans, the related Mortgage Note is not and
has not been secured by any collateral, pledged account or other security
except the lien of the corresponding Mortgage and, in the case of such
Sub-Pool 1 Multifamily Loans and Sub-Pool 1 Mixed Use Loans, the related
Assignment of Leases and UCC financing statements, if any.
(xxiii) No Mortgage Loan was originated under a buydown plan;
(xxiv) There is no obligation on the part of the Depositor or any
other party to make payments in addition to those made by the Mortgagor;
(xxv) With respect to each Mortgage constituting a deed of trust, a
trustee, duly qualified under applicable law to serve as such, has been
properly designated and currently so serves and is named in such Mortgage,
and no fees or expenses are or will become payable by the
Certificateholders to the trustee under the deed of trust, except in
connection with a trustee's sale after default by the Mortgagor;
(xxvi) No Mortgage Loan has a shared appreciation feature, or other
contingent interest feature. No Mortgage Loan provides for deferred
interest or negative
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amortization. No Sub-Pool 2 Mortgage Loan requires or permits the Mortgagor
to convert the Mortgage Rate to a fixed rate;
(xxvii) All parties which have had any interest in the Mortgage Loan,
whether as mortgagee, assignee, pledgee or otherwise, are (or, during the
period in which they held and disposed of such interest, were) (1) in
compliance with any and all applicable licensing requirements of the laws
of the state wherein the Mortgaged Property is located, and (2)(A)
organized under the laws of such state, or (B) qualified to do business in
such state, or (C) federal savings and loan associations or national banks
having principal offices in such state, or (D) not doing business in such
state so as to require qualification or licensing;
(xxviii) The Mortgage contains a customary provision for the
acceleration of the payment of the unpaid principal balance of the Mortgage
Loan in the event the related Mortgaged Property is sold without the prior
consent of the mortgagee thereunder;
(xix) Any future advances made prior to (and excluding) the Cut-off
Date have been consolidated with the outstanding principal amount secured
by the Mortgage, and the secured principal amount, as consolidated, bears a
single interest rate and single repayment term reflected on the related
Mortgage Loan Schedule. The consolidated principal amount does not exceed
the original principal amount of the Mortgage Loan. The Mortgage Note does
not permit or obligate the Servicer to make future advances to the
Mortgagor at the option of the Mortgagor;
(xxx) The related Mortgage contains customary and enforceable
provisions which render the rights and remedies of the holder thereof
adequate for the realization against the Mortgaged Property of the benefits
of the security, including, (a) in the case of a Mortgage designated as a
deed of trust, by trustee's sale, and (b) otherwise by judicial
foreclosure. There is no homestead or other exemption available to the
Mortgagor which would materially interfere with the right to sell the
Mortgaged Property at a trustee's sale or the right to foreclose the
Mortgage except as set forth in the Prospectus;
(xxxi) There is no default, breach, violation or event of acceleration
existing under the Mortgage or the related Mortgage Note and no event
which, with the passage of time or with notice and the expiration of any
grace or cure period, would constitute a default, breach, violation or
event of acceleration; and neither the Servicer nor the Depositor has
waived any default, breach, violation or event of acceleration;
(xxxii) All parties to the Mortgage Note and the Mortgage had legal
capacity to execute the Mortgage Note and the Mortgage and each Mortgage
Note and Mortgage have been duly and properly executed by such parties;
(xxxiii) All amounts received after the Cut-off Date with respect to
the Mortgage Loans (other than the Depositor's Yield and amounts in respect
of interest accrued on
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the Mortgage Loans on or prior to the Cut-off Date) have been deposited
into the Principal and Interest Account and are, as of the Closing Date, in
the Principal and Interest Account;
(xxxiv) Each Mortgage Loan conforms, and all such Mortgage Loans in
the aggregate conform, to the description thereof set forth in the
Prospectus;
(xxxv) The Mortgage Loans were not selected by the Depositor for
inclusion in the Trust Fund on any basis intended to adversely affect the
Trust Fund;
(xxxvi) A full appraisal was performed in connection with each
Mortgaged Property;
(xxxvii) As of the Cut-off Date, the Depositor does not know or have
reason to know of any circumstances that would cause any Mortgagor to
default under its Mortgage Loan or the related Mortgage Note;
(xxxviii) As of the Cut-Off Date, with respect to any Mortgaged
Property, the Depositor has no actual knowledge that there exist any
hazardous substances, hazardous wastes or solid wastes, as such terms are
defined in CERCLA, or other federal, state or local environmental
legislation; and
(xxxix) With respect to each Mortgaged Property subject to a land
trust (a "Land Trust Mortgage") (i) a trustee, duly qualified under
applicable law to serve as such, has been properly designated and currently
so serves and is named as such in the land trust agreement and such trustee
is named in the Land Trust Mortgage as Mortgagor; (ii) all fees and
expenses of the land trustee which have previously become due on owing have
been paid and no fees or expenses are or will become payable by the
Certificateholders or the Trust to the land trustee under the land trust
agreement; (iii) the beneficiary is solely obligated to pay any fees and
expenses of the land trustee and the priority of the lien of the Land Trust
Mortgage is not and will not be primed by the land trustee; (iv) if the
Mortgaged Property is Owner-Occupied, the Mortgaged Property is occupied by
the beneficiary under the land trust agreement and, if such land trust
agreement terminates, the beneficiary will become the owner of the
Mortgaged Property; (v) the beneficiary is obligated to make payments under
the Note and will have personal liability for deficiency judgments to the
extent permitted by law; (vi) the Land Trust Mortgages were made in
compliance with their respective land trust agreements, were validly
entered into by their respective land trust trustee and did not, do not
currently, and will not in the future, violate any provision of their
respective land trust agreement, nor any agreement between or amongst the
beneficiaries of any one land trust; (vii) the Land Trust Mortgages are the
first (or in the case of Sub-Pool 1, first or second) liens on the
Mortgaged Properties; no liens are in place against the beneficial
interests, or any part thereof of any Land Trust Mortgage or collateral
assignment of beneficial interest, which liens are superior to the interest
held by the Seller; and the beneficial interest, or any part thereof, of
any Land Trust Mortgage or collateral assignment of beneficial interest has
not been pledged as security for any other debt; and the land trust trustee
is forbidden, pursuant to a written agreement between the land trust
trustee and
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the Mortgagee, from using the land trust property, or any part, as security
for any other debt until the expiration date of its respective Note; and
(viii) the terms and conditions of the land trust agreement do not prevent
the free and absolute marketability of the Mortgaged Property. As of the
Cut-off Date, the Principal Balance of Land Trust Mortgage Loans with
related Mortgaged Properties subject to land trusts does not exceed 20% of
the Original Pool Principal Balance.
(b) With respect to the Sub-Pool 1 Mortgage Loans, the Depositor hereby
represents and warrants to the Trustee, the Certificate Insurer and the
Certificateholders, with respect to each Sub-Pool 1 Initial Mortgage Loan, as of
the Closing Date, and with respect to each Sub-Pool 1 Subsequent Mortgage Loan,
as of the related Subsequent Transfer Date the following, subject to Section
2.10(c) above and modified to the extent stated therein in the case of Sub-Pool
1 Subsequent Mortgage Loans; provided, however, that in the case of the
Subsequent Mortgage Loans, reference to the "Original Sub-Pool 1 Principal
Balance" shall mean the Original Sub-Pool 1 Principal Balance plus the aggregate
principal balance of the Sub-Pool 1 Subsequent Mortgage Loans as of the end of
the Funding Period:
(i) The Mortgage Note related to each Mortgage Loan bears a fixed
Mortgage Rate;
(ii) Mortgage Loans constituting approximately 46.08% of the Original
Sub-Pool 1 Principal Balance are balloon loans which will provide for a
final Monthly Payment substantially greater than the preceding Monthly
Payments. All of such balloon loans provide for Monthly Payments based on
either a 25-year or 30-year amortization schedule with a final balloon
payment at the end of the 15th year. Each other Mortgage Note will provide
for a schedule of substantially equal Monthly Payments which are, if timely
paid, sufficient to fully amortize the principal balance of such Mortgage
Note on or before its maturity date;
(iii) Each Mortgage is a valid and subsisting first or second lien of
record on the Mortgaged Property subject, in the case of any second
Mortgage Loan, only to a First Lien on such Mortgaged Property and subject
in all cases to the exceptions to title set forth in the title insurance
policy, with respect to the related Mortgage Loan, which exceptions are
generally acceptable to second mortgage lending companies, and such other
exceptions to which similar properties are commonly subject and which do
not individually, or in the aggregate, materially and adversely affect the
benefits of the security intended to be provided by such Mortgage;
(iv) No more than 0.68% of the Original Sub-Pool 1 Principal Balance
is secured by Mortgaged Properties located within any single zip code area;
(v) At least 93.21% of the Original Sub-Pool 1 Principal Balance is
secured by Mortgaged Properties that are maintained by the Mortgagors as
primary residences, and at least 94.05% of the Original Sub-Pool 1
Principal Balance is secured by Owner Occupied Mortgaged Property;
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(vi) With respect to each Mortgage Loan secured by a second priority
lien, the related First Lien requires equal monthly payments, or if it
bears an adjustable interest rate, the monthly payments for the related
First Lien may be adjusted no more frequently than monthly; with respect to
substantially all of the Mortgage Loans secured by a second priority lien,
at the time of the origination of the Mortgage Loan the related First Lien
was at least 12 months old and at least 11 Monthly Payments had been made
by the Mortgagor;
(vii) Either (a) no consent for the Mortgage Loan is required by the
holder of the related First Lien or (b) such consent has been obtained and
is contained in the Mortgage File;
(viii) With respect to any First Lien that provides for negative
amortization or deferred interest, the balance of such First Lien used to
calculate the CLTV for the Mortgage Loan is based on the maximum amount of
negative amortization or deferred interest possible under such First Lien;
(ix) The maturity date of each Mortgage Loan secured by a second
priority lien is prior to the maturity date of the related First Lien if
such First Lien provides for a balloon payment, except if the CLTV does not
exceed 55%;
(x) Approximately 68.97% of the Original Sub-Pool 1 Principal Balance
was originated and underwritten by the Depositor and the remainder of the
Mortgage Loans were purchased and re-underwritten by the Depositor in
accordance with the underwriting criteria set forth in the Prospectus;
(xi) The Mortgage Rate is not less than 8.550% and not more than
15.990%;
(xii) As of the Cut-off Date, no payment on any Mortgage Loan is 30
days or more delinquent (two or more payments missed). One Sub-Pool 1
Initial Mortgage Loan has been contractually delinquent for 30 days (two
payments missed) on one occasion prior to the Cut-off Date; and
(xiii) Approximately 84.77% of the Original Sub-Pool 1 Principal
Balance is secured by detached one-family dwelling units; approximately
0.91% of the Original Sub-Pool 1 Principal Balance is secured by units in
condominiums. No more than approximately 11.02% of the Original Sub-Pool 1
Principal Balance is secured by dwelling units in two- to four-family
dwelling units; approximately 17.02% of the Original Sub-Pool 1 Principal
Balance will be secured by investor properties. Approximately 1.89% of the
Original Sub-Pool 1 Principal Balance is secured by Multifamily Properties,
and no more than approximately 1.41% of the Original Sub-Pool 1 Principal
Balance is secured by Mixed Use Properties.
(c) With respect to the Sub-Pool 2 Mortgage Loans, the Depositor hereby
represents and warrants to the Trustee, the Certificate Insurer and the
Certificateholders, with
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respect to each Sub-Pool 2 Initial Mortgage Loan, as of the Closing Date, and
with respect to each Sub-Pool 2 Subsequent Mortgage Loan, as of the related
Subsequent Transfer Date the following, subject to Section 2.10(d) above and
modified to the extent stated therein in the case of Sub-Pool 2 Subsequent
Mortgage Loans; provided, however, that in the case of the Subsequent Mortgage
Loans, reference to the "Original Sub-Pool 2 Principal Balance" shall mean the
Original Sub-Pool 2 Principal Balance plus the aggregate principal balance of
the Sub-Pool 2 Subsequent Mortgage Loans as of the end of the Funding Period:
(i) None of the Mortgage Loans are balloon loans. Approximately 44.67%
of the Original Sub-Pool 2 Principal Balance is subject to a One Year
Treasury Index, and approximately 55.33% of the Original Sub-Pool 2
Principal Balance is subject to a Six-Month LIBOR Index. With respect to
each Mortgage Loan on each Adjustment Date, the Mortgage Rate will be
adjusted to equal the related Index plus the Gross Margin, rounded to the
nearest 0.125%, subject to the related Periodic Rate Cap, the Maximum
Mortgage Rate and the Minimum Mortgage Rate. Under each Mortgage Note,
interest is payable in arrears. The Mortgage Loans have a Mortgage Rate
subject to annual or semiannual adjustment after an initial six-month
period. Each Mortgage Loan has an original term to maturity from the date
on which the first Monthly Payment is due of 360 months;
(ii) Each Mortgage is a valid and subsisting first lien of record on
the Mortgaged Property subject in all cases to the exceptions to title set
forth in the title insurance policy, and such other exceptions to which
similar properties are commonly subject and which do not individually, or
in the aggregate, materially and adversely affect the benefits of the
security intended to be provided by such Mortgage;
(iii) No more than 3.10% of the Original Sub-Pool 2 Principal Balance
is secured by Mortgaged Properties located within any single zip code area;
(iv) 98.47% of the Original Sub-Pool 2 Principal Balance is secured by
Mortgaged Properties that are maintained by the Mortgagors as primary
residences, and at least 98.47% of the Original Sub-Pool 2 Principal
Balance is secured by Owner Occupied Mortgaged Property;
(v) Approximately 86.68% of the Original Sub-Pool 2 Principal Balance
is secured by detached one-family dwelling units; approximately 1.56% of
the Original Sub-Pool 2 Principal Balance is secured by units in
condominiums. No more than approximately 11.76% of the Original Sub-Pool 2
Principal Balance is secured by dwelling units two- to four-family dwelling
units; approximately 12.39% of the Original Sub-Pool 2 Principal Balance
will be secured by investor properties. None of the Sub-Pool 2 Mortgage
Loans are secured by Multifamily Properties or Mixed Use Properties.
(vi) With respect to each Mortgage Loan, no loan junior in lien
priority to such Mortgage Loan and secured by the related Mortgaged
Property was originated by the Depositor at the time of origination of such
Mortgage Loan;
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(vii) The Gross Margins on the Mortgage Loans range from 3.750% to
8.500% and the weighted average Gross Margin as of the Cut-off Date is
approximately 6.213%;
(viii) Approximately 56.39% of the Original Sub-Pool 2 Principal
Balance were originated and underwritten by the Depositor and the remainder
of the Mortgage Loans were purchased and re-underwritten by the Depositor
in accordance with the underwriting criteria set forth in the Prospectus;
(ix) The Mortgage Rates borne by the Mortgage Loans as of the Cut-off
Date range from 7.500% per annum to 13.375% per annum and the weighted
average Mortgage Rate as of the Cut-off Date is 9.963% per annum;
(x) Each Mortgage Loan that was originated on or after September 13,
1995 has an initial or next Adjustment Date no later than September 1,
1997;
(xi) Each Mortgage Loan bears interest based on a 360-day year
consisting of twelve 30-day months; and
(xii) As of the Cut-off Date, no payment on any Mortgage Loan is 30
days or more delinquent (two or more payments missed).
Section 3.03 Purchase and Substitution.
It is understood and agreed that the representations and warranties set
forth in Sections 3.01 and 3.02 above with respect to the related Sub-Pool shall
survive the transfer and assignment of the Mortgage Loans to the Trustee and
delivery of the Certificates to the Certificateholders. Upon discovery by the
Depositor, the Servicer, any Subservicer, the Custodian, the Trustee, the
Certificate Insurer or any Certificateholder of a breach of any of such
representations and warranties which materially and adversely affects the value
of Mortgage Loans or the interest of the Certificateholders, or which materially
and adversely affects the interests of the Certificate Insurer or the
Certificateholders in the related Mortgage Loan in the case of a representation
and warranty relating to a particular Mortgage Loan (notwithstanding that such
representation and warranty was made to the Depositor's best knowledge), the
party discovering such breach shall give prompt written notice to the others.
The Depositor shall either (a) within 60 days of the earlier of its discovery or
its receipt of notice of any breach of a representation or warranty, promptly
cure such breach in all material respects, or (b) on the Determination Date next
succeeding the end of the 60 day period described in clause (a), either (1)
purchase such Mortgage Loan, in the manner and at the price specified in Section
2.05(b) above or (2) remove such Mortgage Loan from the Trust Fund (in which
case it shall become a Deleted Mortgage Loan) and substitute one or more
Qualified Substitute Mortgage Loans, provided such substitution is effected not
later than the date which is two years after the Startup Day or at such later
date, if the Depositor delivers to the Trustee and the Certificate Insurer an
Opinion of Counsel that such substitution would not constitute a prohibited
transaction under the
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REMIC Provisions or cause the Trust Fund REMIC to fail to qualify as a REMIC at
any time any Certificates are outstanding. Any such substitution shall be
accompanied by payment by the Depositor of the Substitution Adjustment, if any,
to be deposited in the related Principal and Interest Account. For purposes of
calculating the related Available Remittance Amount for any Remittance Date,
amounts paid by the Depositor pursuant to this Section 3.03 in connection with
the repurchase or substitution of any Mortgage Loan that are on deposit in the
related Principal and Interest Account as of the Determination Date for such
Remittance Date shall be deemed to have been paid during the related Due Period
and shall be transferred to the related Certificate Account pursuant to Section
5.04(i) on the Determination Date for such Remittance Date.
As to any Deleted Mortgage Loan for which the Depositor substitutes a
Qualified Substitute Mortgage Loan or Loans, the Servicer shall effect such
substitution by delivering to the Trustee a certification in the form attached
hereto as Exhibit I, executed by a Servicing Officer, and the documents
constituting the Trustee's Mortgage File for such Qualified Substitute Mortgage
Loan or Loans.
The Servicer shall deposit in the related Principal and Interest Account
all payments received in connection with such Qualified Substitute Mortgage Loan
or Loans after the date of such substitution. Monthly Payments received with
respect to Qualified Substitute Mortgage Loans on or before the date of
substitution will be retained by the Depositor. The Trust Fund will own all
payments received on the Deleted Mortgage Loan on or before the date of
substitution, and the Depositor shall thereafter be entitled to retain all
amounts subsequently received in respect of such Deleted Mortgage Loan. The
Servicer shall give written notice to the Trustee and the Certificate Insurer
that such substitution has taken place and shall amend the related Mortgage Loan
Schedule to reflect the removal of such Deleted Mortgage Loan from the terms of
this Agreement and the substitution of the Qualified Substitute Mortgage Loan.
The Servicer shall promptly deliver to the Trustee a copy of the related amended
Mortgage Loan Schedule. Upon such substitution, such Qualified Substitute
Mortgage Loan or Loans shall be subject to the terms of this Agreement in all
respects, and the Depositor shall be deemed to have made with respect to such
Qualified Substitute Mortgage Loan or Loans, as of the date of substitution, the
covenants, representations and warranties set forth in Sections 3.01 and 3.02
above. On the date of such substitution, the Depositor will remit to the
Servicer, and the Servicer will deposit into the related Principal and Interest
Account, an amount equal to the Substitution Adjustment, if any.
It is understood and agreed that the obligations of the Depositor set forth
in Sections 2.05 and 3.03 above to cure, purchase or substitute for a defective
Mortgage Loan as provided in such Sections 2.05 and 3.03 constitute the sole
remedies of the Trustee, the Certificate Insurer and the Certificateholders
respecting a breach of the representations and warranties.
Any cause of action against the Depositor relating to or arising out of a
defect in a Trustee's Mortgage File as contemplated by Section 2.05 above or the
breach of any representations and warranties made in Sections 3.01 or 3.02 above
shall accrue as to any Mortgage
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Loan upon (i) discovery of such defect or breach by any party and notice thereof
to the Depositor or notice thereof by the Depositor to the Trustee, (ii) failure
by the Depositor to cure such defect or breach or purchase or substitute such
Mortgage Loan as specified above, and (iii) demand upon the Depositor by the
Trustee for all amounts payable in respect of such Mortgage Loan.
Notwithstanding any contrary provision of this Agreement, with respect to
any Mortgage Loan which is not in default or as to which no default is
reasonably foreseeable, no purchase or substitution pursuant to Section 2.05(b)
above or this Section 3.03 shall be made unless the Depositor provides to the
Trustee an Opinion of Counsel, addressed to the Trustee, to the effect that such
purchase or substitution would not (i) result in the imposition of taxes on
"prohibited transactions" of the Trust Fund REMIC, as defined in Section 860F of
the Code, or a tax on contributions to the Trust Fund REMIC, under the REMIC
Provisions, or (ii) cause the Trust Fund REMIC to fail to qualify as a REMIC at
any time that any Certificates are outstanding. Any Mortgage Loan as to which
purchase or substitution was delayed pursuant to this paragraph shall be
purchased or substituted (subject to compliance with such Sections 2.05 and
3.03) upon the earlier of (a) the occurrence of a default or imminent default
with respect to such loan and (b) receipt by the Trustee of an Opinion of
Counsel to the effect that such purchase or substitution will not result in any
of the events described in clauses (i) and (ii) of the preceding sentence. The
Trustee shall give prompt written notice to Moody's and S&P of any repurchase or
substitution made pursuant to this Section 3.03.
The Trustee shall have no duty to conduct any affirmative investigation
other than as specifically set forth in this Agreement as to the occurrence of
any condition requiring the repurchase or substitution of any Mortgage Loan
pursuant to this Section or the eligibility of any Mortgage Loan for purposes of
this Agreement, and may rely conclusively on any Opinion of Counsel delivered to
it under this Section 3.03.
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ARTICLE IV
THE CERTIFICATES
Section 4.01 The Certificates.
The Certificates shall be substantially in the form annexed hereto as
Exhibits B-1 through B-3, and shall, upon original issue, be executed (not in
its individual capacity, but solely as Trustee) and delivered by the Trustee to
the Certificate Registrar for authentication and delivery to or upon the order
of the Depositor, concurrently with the transfer and assignment to the Trustee
of the Mortgage Loans pursuant to Section 2.01 above. All Certificates shall be
issued in Authorized Denominations. So long as the Class 1A-1, Class 1A-2, Class
1A-3, Class 1A-4, Class 1A-5, Class 1A-6 and Class 2A Certificates are
Book-Entry Certificates, each Class of such Certificates shall be evidenced by
one or more certificates representing the entire amount of the related Original
Class Principal Balance. All Certificates shall be executed and authenticated by
manual or facsimile signature on behalf of the Trust Fund by an authorized
officer of the Trustee and on behalf of the Certificate Registrar by an
authorized officer of the Certificate Registrar. Certificates bearing the
signatures of individuals who were at the time of the execution of the
Certificates the proper officers of the Trustee shall bind the Trust Fund,
notwithstanding that such individuals or any of them have ceased to hold such
offices prior to the delivery of such Certificates or did not hold such offices
at the date of such Certificates. All Certificates issued hereunder shall be
dated the date of their authentication.
Section 4.02 Registration of Transfer and Exchange of Certificates.
(a) The Trustee shall cause to be kept at its office in Chicago, Illinois,
or at its designated agent, a Certificate Register in which, subject to such
reasonable regulations as it may prescribe, it shall provide for the
registration of Certificates and of transfers and exchanges of Certificates as
herein provided. The Certificate Register shall contain the name, remittance
instructions, Class and Percentage Interest of each Certificateholder, as well
as the Series and the number in the Series. The Trustee hereby accepts
appointment as Certificate Registrar for the purpose of registering Certificates
and transfers and exchanges of Certificates as herein provided (the "Certificate
Registrar").
(b) The Class R Certificates have not been registered or qualified under
the Securities Act of 1933, as amended (the "1933 Act"), or any state securities
laws or "Blue Sky" laws. No transfer, sale, pledge or other disposition of any
Class R Certificate shall be made unless such disposition is made pursuant to an
effective registration statement under the 1933 Act and effective registration
or qualification under applicable state securities laws or "Blue Sky" laws, or
is made in a transaction which does not require such registration or
qualification. In the event that a transfer of a Class R Certificate is to be
made in reliance upon an exemption from the 1933 Act, the Trustee or the
Certificate Registrar shall require, in order to assure compliance with the 1933
Act, that the Certificateholder desiring to effect such disposition and such
Certificateholder's prospective transferee each certify to the Trustee or the
Certificate
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Registrar in writing the facts surrounding such disposition substantially in the
form of Exhibit D. In the event that such certification of facts does not on its
face establish the availability of an exemption under the 1933 Act, the Trustee
may require an Opinion of Counsel satisfactory to it that such transfer may be
made pursuant to an exemption from the 1933 Act, which Opinion of Counsel shall
not be an expense of the Trustee or the Trust Fund. None of the Servicer, the
Depositor nor the Trustee are obligated under this Agreement to register the
Class R Certificates under the 1933 Act or any other securities law or to take
any action not otherwise required under this Agreement to permit the transfer of
such Certificates without such registration or qualification.
(c) Each Person who has or who acquires any Percentage Interest in a Class
R Certificate shall be deemed by the acceptance or acquisition of such
Percentage Interest to have agreed to be bound by the following provisions and
to have irrevocably appointed the Servicer or its designee as its
attorney-in-fact to negotiate the terms of any mandatory sale under clause (v)
below and to execute all instruments of transfer and to do all other things
necessary in connection with any such sale, and the rights of each Person
acquiring any Percentage Interest in a Class R Certificate are expressly subject
to the following provisions:
(i) Each Person holding or acquiring any Percentage Interest in a
Class R Certificate shall be a Permitted Transferee and shall promptly
notify the Servicer and the Trustee of any change or impending change in
its status as a Permitted Transferee.
(ii) No Percentage Interest in a Class R Certificate may be
transferred (including any transfer to the initial holder) and the Trustee
shall not register the transfer of the Class R Certificate unless the
Trustee shall have been furnished with (A) an affidavit (a "Transfer
Affidavit") of the proposed transferee substantially in the form attached
hereto as Exhibit J and (B) a certificate (a "Transfer Certificate") of the
transferror substantially in the form attached hereto as Exhibit J-1 to the
effect that (1) such transferror has no actual knowledge that the proposed
transferee is not a Permitted Transferee and (2) no purpose of such
proposed transfer is to impede the assessment or collection of tax.
(iii) Each Person holding or acquiring any Percentage Interest in a
Class R Certificate shall agree (A) to require a Transfer Affidavit from
any other Person to whom such Person attempts to transfer its Percentage
Interest in a Class R Certificate, (B) to require a Transfer Affidavit from
any Person for whom such Person is acting as nominee, trustee or agent in
connection with any transfer of a Class R Certificate, (C) to deliver a
Transfer Certificate to the Trustee in connection with any such attempted
transfer and (D) not to transfer its Percentage Interest in a Class R
Certificate or to cause the transfer of a Percentage Interest in a Class R
Certificate to any other Person if it has actual knowledge that such Person
is not a Permitted Transferee or if any purpose of such transfer is to
impede the assessment or collection of tax.
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(iv) Each Person holding or acquiring a Percentage Interest in a Class
R Certificate, by purchasing a Percentage Interest in such Certificate,
agrees to give the Trustee and the Depositor written notice that it is a
"pass-through interest holder" within the meaning of Temporary Treasury
Regulations Section 1.67-3T(a)(2)(i)(A) immediately upon acquiring a
Percentage Interest in a Class R Certificate, if it is, or is holding a
Percentage Interest in a Class R Certificate on behalf of, a "pass-through
interest holder."
(v) Any attempted or purported transfer of any Percentage Interest in
a Class R Certificate in violation of the provisions of this Section 4.02
shall be absolutely null and void and shall vest no rights in the purported
transferee. If any purported transferee shall become a Holder of a Class R
Certificate in violation of the provisions of this Section 4.02, then the
last preceding Permitted Transferee shall be restored to all rights as
Holder thereof retroactive to the date of registration of transfer of such
Class R Certificate. The Trustee shall notify the Servicer upon receipt of
written notice or discovery by a Responsible Officer that the registration
of transfer of a Class R Certificate was not in fact permitted by this
Section 4.02. Knowledge shall not be imputed to the Trustee with respect to
an impermissible transfer in the absence of such a written notice or
discovery by a Responsible Officer. The Trustee shall be under no liability
to any Person for any registration of transfer of a Class R Certificate
that is in fact not permitted by this Section 4.02 or for making any
payments due on such Certificate to the Holder thereof or taking any other
action with respect to such Holder under the provisions of this Agreement
so long as the transfer was registered after receipt of the related
Transfer Affidavit and Transfer Certificate. The Trustee shall be entitled,
but not obligated to, recover from any Holder of a Class R Certificate that
was in fact not a Permitted Transferee at the time it became a Holder or,
at such subsequent time as it became other than a Permitted Transferee, all
payments made on such Class R Certificate at and after either such time.
Any such payments so recovered by the Trustee shall be paid and delivered
by the Trustee to the last preceding Holder of such Certificate.
(vi) If any purported transferee shall become a Holder of a Class R
Certificate in violation of the restrictions in this Section 4.02, then the
Servicer or its designee shall have the right, without notice to the Holder
or any prior Holder of such Class R Certificate, to sell such Class R
Certificate to a purchaser selected by the Servicer or its designee on such
reasonable terms as the Servicer or its designee may choose. Such purchaser
may be the Servicer itself or any Affiliate of the Servicer. The proceeds
of such sale, net of commissions, expenses and taxes due, if any, will be
remitted by the Servicer to the last preceding purported transferee of such
Class R Certificate, except that in the event that the Servicer determines
that the Holder or any prior Holder of such Class R Certificate may be
liable for any amount due under this Section 4.02 or any other provision of
this Agreement, the Servicer may withhold a corresponding amount from such
remittance as security for such claim. The terms and conditions of any sale
under this clause (vi) shall be determined in the sole discretion of
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the Servicer or its designee, and it shall not be liable to any Person
having a Percentage Interest in a Class R Certificate as a result of its
exercise of such discretion.
(vii) The Servicer, on behalf of the Trustee, shall make available,
upon written request from the Trustee, all information necessary to compute
any tax imposed (A) as a result of the Transfer of a Percentage Interest in
a Class R Certificate to any Person who is a Disqualified Organization,
including the information regarding "excess inclusions" of such Class R
Certificates required to be provided to the Internal Revenue Service and
certain Persons as described in Treasury Regulations Sections
1.860D-1(b)(5) and 1.860E-2(a)(5), and (B) as a result of any regulated
investment company, real estate investment trust, common trust fund,
partnership, trust, estate or organization described in Section 1381 of the
Code that holds a Percentage Interest in a Class R Certificate having as
among its record holders at any time any Person who is a Disqualified
Organization. Reasonable compensation for providing such information may be
required by the Servicer from such Person.
Transfers of the Class R Certificates to Persons other than Permitted
Transferees are prohibited.
No transfer of a Class R Certificate or any interest therein shall be made
to any employee benefit plan or other retirement arrangement, including
individual retirement accounts and annuities, Keogh plans and collective
investment funds and separate accounts in which such plans, accounts or
arrangements are invested, that is subject to the Employment Retirement Income
Security Act of 1974, as amended ("ERISA"), or the Code (each, a "Plan"), unless
the prospective transferee of a Class R Certificate provides the Servicer and
the Trustee with a certification of facts and, at its own expense, an Opinion of
Counsel which establish to the satisfaction of the Servicer and the Trustee that
such transfer will not result in a violation of Section 406 of ERISA or Section
4975 of the Code or cause the Servicer or the Trustee to be deemed a fiduciary
of such Plan or result in the imposition of an excise tax under Section 4975 of
the Code.
None of (i) the Trust Fund, (ii) the Servicer, (iii) the Depositor or (iv)
any Subservicer shall be a Class A Certificateholder. Any attempted or purported
transfer in violation of the preceding sentence shall be absolutely null and
void and shall vest no rights in the purported transferee. If any purported
transferee shall become a Holder of a Class A Certificate in violation of such
sentence, then the last preceding Holder shall be restored to all rights as
Holder thereof retroactive to the date of registration of transfer of such
Certificate. The Trustee shall notify the Servicer of any transfer in violation
of this paragraph upon receipt of written notice thereof. The Trustee shall be
under no liability to any Person for any registration of transfer of a Class A
Certificate not permitted by this paragraph or for making any payments due on
such Certificate to the Holder thereof or taking any other action with respect
to such Holder under the provisions of this Agreement so long as the transfer
was registered without such receipt. The Trustee shall be entitled, but not
obligated, to recover from
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any Holder of a Class A Certificate that was in fact not a permitted Holder
under this paragraph, all payments made on such Certificate at and after such
time. Any such payments so recovered by the Trustee shall be paid and delivered
by the Trustee to the last preceding Holder of such Certificate.
Subject to the preceding paragraphs, upon surrender for registration of
transfer of any Certificate at the Chicago, Illinois office of the Trustee (or
at the office of the designated Certificate Registrar), the Trustee shall
execute, authenticate and deliver in the name of the designated transferee or
transferees, a new Certificate of the same Class and Percentage Interest and
dated the date of authentication by the Trustee. The Certificate Registrar shall
notify the Servicer of any such transfer.
At the option of the Certificateholders, Certificates may be exchanged for
other Certificates of Authorized Denominations of a like Class and aggregate
Percentage Interest, upon surrender of the Certificates to be exchanged at such
office. Whenever any Certificates are so surrendered for exchange, the Trustee
shall execute, authenticate and deliver the Certificates which the
Certificateholder making the exchange is entitled to receive. Every Certificate
presented or surrendered for registration of transfer or exchange shall be
accompanied by a written instrument of transfer substantially in the form
attached hereto as Exhibit E, or such other endorsement or written instrument of
transfer as is satisfactory to the Trustee, duly executed by the Holder thereof
or his attorney duly authorized in writing, together with wiring instructions,
if applicable, in the form attached hereto as Exhibit E(1).
No service charge shall be made for any registration of transfer or
exchange of Certificates, but the Certificate Registrar may require payment of a
sum sufficient to cover any tax or governmental charge that may be imposed in
connection with any transfer or exchange of Certificates.
All Certificates surrendered for registration of transfer and exchange
shall be marked "cancelled" by the Trustee.
(d) Except as provided in paragraph (e) below, the Book-Entry Certificates
shall at all times remain registered in the name of the Depository or its
nominee and at all times: (i) registration of the Class A Certificates may not
be transferred by the Trustee except to another Depository; (ii) the Depository
shall maintain book-entry records with respect to the Certificate Owners and
with respect to ownership and transfers of such Class A Certificates; (iii)
ownership and transfers of the Class A Certificates on the books of the
Depository shall be governed by applicable rules established by the Depository;
(iv) the Depository may collect its usual and customary fees, charges and
expenses from its Depository Participants; (v) the Trustee shall deal only with
the Depository for purposes of exercising the rights of Holders of Class A
Certificates under this Agreement.
All transfers by Certificate Owners of Book-Entry Certificates shall be
made in accordance with the procedures established by the Depository Participant
or brokerage firm
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representing such Certificate Owner. Each Depository Participant shall only
transfer Book-Entry Certificates of Certificate Owners it represents or of
brokerage firms for which it acts as agent in accordance with the Depository's
normal procedures.
(e) If (x)(i) the Servicer advises the Trustee in writing that the
Depository is no longer willing or able to properly discharge its
responsibilities as Depository, and (ii) the Servicer is unable to locate a
qualified successor, (y) the Servicer at its option may advise the Trustee in
writing that it elects to terminate the book-entry system through the Depository
or (z) after the occurrence of an Event of Default, the aggregate of the
Majority Certificateholders of the Sub-Pool(s) affected by such Event of Default
may advise the Trustee in writing that the continuation of a book-entry system
through the Depository, to the exclusion of Definitive Certificates, is no
longer in the best interests of the related Certificate Owners, the Trustee
shall notify all of the related Certificate Owners, through the Depository, of
the occurrence of any such event and of the availability of definitive, fully
registered Class 1A or Class 2A Certificates (the "Definitive Certificates"), as
the case may be, to the Certificate Owners requesting the same. Upon surrender
to the Trustee of the related Class A Certificates by the Depository,
accompanied by registration instructions from the Depository for registration of
transfer, the Trustee shall issue the Definitive Certificates. Neither the
Servicer nor the Trustee shall be liable for any delay in delivery of such
instructions and may conclusively rely on, and shall be protected in relying on,
such instructions. Upon the issuance of Definitive Certificates all references
herein to obligations imposed upon or to be performed by the Depository shall be
deemed to be imposed upon and performed by the Trustee to the extent applicable
with respect to such Definitive Certificates and the Trustee shall recognize the
Holders of the Definitive Certificates as Certificateholders hereunder.
Section 4.03 Mutilated, Destroyed, Lost or Stolen Certificates.
If (i) any mutilated Certificate is surrendered to the Certificate
Registrar, or the Trustee receives evidence to its satisfaction of the
destruction, loss or theft of any Certificate, and (ii) there is delivered to
the Trustee and the Certificate Registrar such security or indemnity as may
reasonably be required by each of them to save each of them harmless, then, in
the absence of notice to the Servicer, the Trustee and the Certificate Registrar
that such Certificate has been acquired by a bona fide purchaser, upon receipt
of written notice from the Servicer that it has received adequate security or
indemnity and no notice that such Certificate has been acquired by a bona fide
purchaser, the Trustee shall execute, deliver and authenticate, in exchange for
or in lieu of any such mutilated, destroyed, lost or stolen Certificate, a new
Certificate of like tenor, Class and Percentage Interest, but bearing a number
not contemporaneously outstanding. Upon the issuance of any new Certificate
under this Section 4.03, the Servicer and the Trustee may require the payment of
a sum sufficient to cover any tax or other governmental charge that may be
imposed in relation thereto and any other expenses connected therewith. Any
duplicate Certificate issued pursuant to this Section 4.03 shall constitute
complete and indefeasible evidence of ownership in the Trust Fund, as if
originally issued, whether or not the mutilated, destroyed, lost or stolen
Certificate shall be found at any time.
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Section 4.04 Persons Deemed Owners.
Prior to due presentation of a Certificate for registration of transfer,
the Servicer, the Depositor, the Trustee and the Certificate Registrar may treat
the Person in whose name any Certificate is registered as the owner of such
Certificate for the purpose of receiving remittances pursuant to Section 6.06
and for all other purposes whatsoever, and the Depositor, the Servicer, the
Trustee and the Certificate Registrar shall not be affected by notice to the
contrary.
Section 4.05 Information Reports to be Filed by the Servicer.
The Servicer or the Subservicers shall file the information reports with
respect to the receipt of mortgage interest received in a trade or business,
foreclosures and abandonments of any Mortgaged Property and the information
returns relating to cancellation of indebtedness income with respect to any
Mortgaged Property required by Sections 6050H, 6050J and 6050P of the Code,
respectively, and deliver to the Trustee an Officers' Certificate stating that
such reports and returns have been filed. Such reports and returns shall be in
form and substance sufficient to meet the reporting requirements imposed by such
Sections 6050H, 6050J and 6050P of the Code.
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ARTICLE V
ADMINISTRATION AND SERVICING OF THE MORTGAGE LOANS
Section 5.01 Duties of the Servicer.
(a) The Servicer, as independent contract servicer, shall service and
administer the Mortgage Loans and shall have full power and authority, acting
alone, to do any and all things in connection with such servicing and
administration which the Servicer may deem necessary or desirable and consistent
with the terms of this Agreement. The Servicer may enter into Subservicing
Agreements for any servicing and administration of Mortgage Loans with any
institution which is in compliance with the laws of each state necessary to
enable it to perform its obligations under such Subservicing Agreement and (x)
has been designated an approved seller-servicer by FHLMC or FNMA for first and
second mortgage loans with respect to SubPool 1, and for first mortgage loans
with respect to Sub-Pool 2 or (y) is an Affiliate of the Servicer. The Servicer
shall give written notice to the Certificate Insurer and the Trustee of the
appointment of any Subservicer. Any such Subservicing Agreement shall be
consistent with and not violate the provisions of this Agreement. The Servicer
shall be entitled to terminate any Subservicing Agreement in accordance with the
terms and conditions of such Subservicing Agreement and to either itself
directly service the related Mortgage Loans or enter into a Subservicing
Agreement with a successor subservicer which qualifies hereunder.
(b) Notwithstanding any Subservicing Agreement, any of the provisions of
this Agreement relating to agreements or arrangements between the Servicer and
Subservicer or reference to actions taken through a Subservicer or otherwise,
the Servicer shall remain obligated and primarily liable to the Trustee and
Certificateholders for the servicing and administering of the Mortgage Loans in
accordance with the provisions of this Agreement without diminution of such
obligation or liability by virtue of such Subservicing Agreements or
arrangements or by virtue of indemnification from the Subservicer and to the
same extent and under the same terms and conditions as if the Servicer alone
were servicing and administering the Mortgage Loans. For purposes of this
Agreement, the Servicer shall be deemed to have received payments on Mortgage
Loans when the Subservicer has received such payments. The Servicer shall be
entitled to enter into any agreement with a Subservicer for indemnification of
the Servicer by such Subservicer, and nothing contained in this Agreement shall
be deemed to limit or modify such indemnification.
With respect to any Mortgage Note released by the Trustee to the Servicer
or to any Subservicer in accordance with the terms of this Agreement, other than
a release or satisfaction pursuant to Section 7.02, prior to such release, the
Trustee or, if a Custodian has been appointed pursuant to Section 12.12, the
Custodian shall (a) complete all endorsements in blank so that the endorsement
reads "Pay to the order of LaSalle National Bank, as Trustee under the Pooling
and Servicing Agreement, dated as of September 1, 1996, Series 1996-3" and (b)
complete a restrictive endorsement that reads "LaSalle National Bank is the
holder of the mortgage note for the benefit of the Certificateholders under the
Pooling and Servicing
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Agreement, dated as of September 1, 1996, Series 1996-3" with respect to those
Mortgage Notes currently endorsed "Pay to the order of holder", if any.
(c) Any Subservicing Agreement that may be entered into and any
transactions or services relating to the Mortgage Loans involving a Subservicer
in its capacity as such and not as an originator shall be deemed to be between
the Subservicer and the Servicer alone, and the Trustee, the Certificate Insurer
and Certificateholders shall not be deemed parties thereto and shall have no
claims, rights, obligations, duties or liabilities with respect to the
Subservicer except as set forth in Section 5.01(d).
(d) In the event the Servicer shall for any reason no longer be the
Servicer (including by reason of an Event of Default), the Trustee or its
designee shall, subject to Section 10.02, thereupon assume all of the rights and
obligations of the Servicer under each Subservicing Agreement that the Servicer
may have entered into, unless the Trustee elects to terminate any Subservicing
Agreement in accordance with its terms. The Trustee, its designee or the
successor servicer for the Trustee shall be deemed to have assumed all of the
Servicer's interest therein and to have replaced the Servicer as a party to each
Subservicing Agreement to the same extent as if the Subservicing Agreements had
been assigned to the assuming party, except that the Trustee (or its designee)
shall have no liability or obligations under any Subservicing Agreements with
respect to any period prior to becoming the new Servicer, whether for acts or
omissions of the Servicer or otherwise, and the Servicer shall not by virtue of
such replacement be relieved of any such liability or obligations under the
Subservicing Agreements. The Servicer at its expense and without right of
reimbursement therefor, shall, upon request of the Trustee, deliver to the
assuming party all documents and records relating to each Subservicing Agreement
and the Mortgage Loans then being serviced and an accounting of amounts
collected and held by it and otherwise use its best efforts to effect the
orderly and efficient transfer of the Subservicing Agreements to the assuming
party.
(e) Consistent with the terms of this Agreement, the Servicer may waive,
modify or vary any term of any Mortgage Loan or consent to the postponement of
strict compliance with any such term or in any manner grant indulgence to any
Mortgagor if in the Servicer's determination such waiver, modification,
postponement or indulgence is not materially adverse to the interests of the
Certificateholders and the Certificate Insurer, provided, however,
notwithstanding any provision of this Agreement to the contrary, the Servicer
shall not consent to, make or permit (i) any modification with respect to any
Mortgage Loan that would change the Mortgage Rate, reduce or increase the
principal balance (except for reductions resulting from actual payments of
principal) or change the final maturity date on such Mortgage Loan unless (A)
the related Mortgagor is in default with respect to the Mortgage Loan or, in the
judgment of the Servicer, such default is reasonably foreseeable and (B) in the
sole judgment of the Servicer such modification would increase the proceeds of
such Mortgage Loan and (C) the Certificate Insurer has consented to such
modification, or (ii) any modification, waiver or amendment of any term of any
Mortgage Loan that would both (A) effect an exchange or reissuance of such
Mortgage Loan under Section 1001 of the Code (or final or temporary Treasury
regulations, or proposed Treasury regulations with a proposed effective date
that would
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make them applicable to such modification, waiver or amendment, promulgated
thereunder) and (B) cause the Trust Fund REMIC to fail to qualify as a REMIC
under the Code or the imposition of any tax on "prohibited transactions" or
"contributions after the startup date" under the REMIC Provisions. No costs
incurred by the Servicer or any Subservicer in respect of Servicing Advances
shall for the purposes of distributions to Certificateholders be added to the
amount owing under the related Mortgage Loan. Without limiting the generality of
the foregoing, and subject to the consent of the Certificate Insurer, the
Servicer shall continue, and is hereby authorized and empowered to execute and
deliver on behalf of the Trustee and each Certificateholder, all instruments of
satisfaction or cancellation, or of partial or full release, discharge and all
other comparable instruments, with respect to the Mortgage Loans and with
respect to the Mortgaged Properties. If reasonably required by the Servicer, the
Trustee shall furnish the Servicer with any powers of attorney and other
documents necessary or appropriate to enable the Servicer to carry out its
servicing and administrative duties under this Agreement.
Notwithstanding anything to the contrary contained herein, the Servicer, in
servicing and administering the Mortgage Loans, shall employ or cause to be
employed procedures (including collection, foreclosure, REO Property management
procedures and the making of Servicing Advances) and exercise the same care that
it customarily employs and exercises in servicing and administering mortgage
loans for its own account, in accordance with accepted first and second mortgage
servicing practices of prudent lending institutions with respect to Sub-Pool 1,
and in accordance with accepted first mortgage servicing practices of prudent
lending institutions with respect to Sub-Pool 2, and giving due consideration to
the Certificate Insurer's and the Certificateholders reliance on the Servicer.
(f) On and after such time as the Trustee receives the resignation of, or
notice of the removal of, the Servicer from its rights and obligations hereunder
with respect to a SubPool, and with respect to resignation pursuant to Section
9.04, after receipt of the Opinion of Counsel required pursuant to such Section
9.04, the Trustee or its designee shall assume all of the rights and obligations
of the Servicer hereunder with respect to such Sub-Pool, subject to Section
10.02. The Servicer shall, upon request of the Trustee but at the expense of the
Servicer, deliver to the Trustee all documents and records relating to the
related Mortgage Loans and an accounting of amounts collected and held by the
Servicer and otherwise use its best efforts to effect the orderly and efficient
transfer of servicing rights with respect to such Sub-Pool and obligations to
the assuming party.
Section 5.02 Liquidation of Mortgage Loans.
In the event that any payment due under any Mortgage Loan and not postponed
pursuant to Section 5.01 above is not paid when the same becomes due and
payable, or in the event the Mortgagor fails to perform any other covenant or
obligation under the Mortgage Loan and such failure continues beyond any
applicable grace period, the Servicer shall take such action as it shall deem to
be in the best interest of the Certificate Insurer and the Certificateholders.
The Servicer shall foreclose upon or otherwise comparably effect the ownership
in the name of the Trustee for the benefit of the Certificateholders on behalf
of the
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Certificateholders of Mortgaged Properties relating to defaulted Mortgage Loans
as to which no satisfactory arrangements can be made for collection of
delinquent payments in accordance with the provisions of Section 5.10, provided,
however, that the Servicer shall not be obligated to foreclose in the event that
the Servicer, in its good faith reasonable judgment, determines that it would
not be in the best interests of Certificateholders or the Certificate Insurer,
which judgment shall be evidenced by an Officer's Certificate delivered to the
Trustee and the Certificate Insurer. In connection with such foreclosure or
other conversion, the Servicer shall exercise collection and foreclosure
procedures with the same degree of care and skill in its exercise or use as it
would exercise or use under the circumstances in the conduct of its own affairs.
Any amounts advanced in connection with such foreclosure or other action shall
constitute Servicing Advances.
After a Mortgage Loan has become a Liquidated Mortgage Loan, the Servicer
shall promptly prepare and forward to the Trustee and the Certificate Insurer
and, upon request, any Certificateholder, a Liquidation Report certified by a
Responsible Officer, in the form attached hereto as Exhibit M, detailing the
Liquidation Proceeds received from the Liquidated Mortgage Loan, expenses
incurred with respect thereto, and any loss incurred in connection therewith.
Section 5.03 Establishment of Principal and Interest Accounts; Deposits in
Principal and Interest Accounts.
With respect to each Sub-Pool, the Servicer shall cause to be established
and initially maintained with the Trustee one or more Principal and Interest
Accounts, which shall be Eligible Accounts, titled, with respect to Sub-Pool 1,
"Sub-Pool 1 Principal and Interest Account, Lee Servicing Company, a division of
Superior Bank FSB, in trust for the registered holders of AFC Mortgage Loan
Asset Backed Certificates, Series 1996-3" and with respect to Sub-Pool 2,
"Sub-Pool 2 Principal and Interest Account, Lee Servicing Company, a division of
Superior Bank FSB, in trust for the registered holders of AFC Mortgage Loan
Asset Backed Certificates, Series 1996-3." Subsequent to the Closing Date, the
Servicer may transfer the related Principal and Interest Account to another
institution, provided that each Principal and Interest Account shall be an
Eligible Account and all amounts therein shall be invested only in Permitted
Investments. The creation of any Principal and Interest Account shall be
evidenced by a letter agreement in the form of Exhibit C. A copy of such letter
agreement shall be furnished on the Closing Date to the Trustee, the Certificate
Insurer and, upon request, any Certificateholder. With respect to each Sub-Pool,
the Servicer shall deposit (without duplication) the following amounts with
respect to such Sub-Pool within one (1) Business Day of receipt of good funds in
the related Principal and Interest Account and retain therein:
(i) all payments due after the Cut-off Date with respect to the
Initial Mortgage Loans or after a Subsequent Cut-off Date with respect to
the Subsequent Mortgage Loans on account of principal on the Mortgage Loans
and all Excess Payments, Principal Prepayments and Curtailments received
after the
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Cut-off Date, or after the Subsequent Cut-off Date, as the case may be, and
other than the Depositor's Yield;
(ii) all payments due after the Cut-off Date with respect to the
Initial Mortgage Loans, or after a Subsequent Cut-off Date with respect to
the Subsequent Mortgage Loans, on account of interest on the Mortgage
Loans, including the amount of any Rate Shortfall described in Section
6.16;
(iii) all Net Liquidation Proceeds;
(iv) all Insurance Proceeds;
(v) all Released Mortgaged Property Proceeds;
(vi) any amounts payable in connection with the repurchase of any
Mortgage Loan and the amount of any Substitution Adjustment pursuant to
Sections 2.05 and 3.03 above; and
(vii) any amount required to be deposited in the related Principal and
Interest Account pursuant to Section 5.04 or 11.01.
The foregoing requirements for deposit in the related Principal and
Interest Account shall be exclusive; it being understood and agreed that,
without limiting the generality of the foregoing, the Depositor's Yield, the
Servicing Fee (as such fee may be reduced pursuant to Section 6.16) with respect
to each Mortgage Loan, late payment charges and assumption fees, to the extent
permitted by Sections 7.01 and 7.03, and Excess Proceeds need not be deposited
by the Servicer in the related Principal and Interest Account. Any interest
earnings on funds held in the related Principal and Interest Account shall be
for the account of the Servicer and may only be withdrawn from the related
Principal and Interest Account by the Servicer immediately following its monthly
remittance of the Available Remittance Amount to the Trustee. Any reference
herein to amounts on deposit in the related Principal and Interest Account shall
refer to amounts net of such investment earnings.
Section 5.04 Permitted Withdrawals From the Principal and Interest Account.
With respect to each Sub-Pool, the Servicer shall withdraw or cause to be
withdrawn funds from the related Principal and Interest Account for the
following purposes:
(i) to effect the remittance to the Trustee on the Determination Date
of the Excess Spread and the portion of the Available Remittance Amount
that is net of Compensating Interest and Monthly Advances to the Trustee.
For the purposes of this Section 5.04(i), the calculation of the Available
Remittance Amount shall be made without reference to the actual deposit of
funds in the related Certificate Account;
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(ii) to reimburse itself for any accrued unpaid Servicing Fees (except
with respect to Discount Mortgage Loans for which an amount equal to the
Rate Shortfall described in Section 6.16 was deposited into the Principal
and Interest Account pursuant to Section 5.03(ii)), unreimbursed Monthly
Advances and unreimbursed Servicing Advances and any amount described in
Section 6.13(b) or Section 6.13(c) deposited in the related Certificate
Account and attributable to the conveyance to the Trustee of a Subsequent
Mortgage Loan that does not have a payment date during the related Due
Period, if the Servicer is the Depositor. The Servicer's right to
reimbursement for accrued and unpaid Servicing Fees and unreimbursed
Servicing Advances shall be limited to late collections on the related
Mortgage Loan, including Liquidation Proceeds, Released Mortgaged Property
Proceeds, Insurance Proceeds and such other amounts as may be collected by
the Servicer from the related Mortgagor with respect to a Sub-Pool or
otherwise relating to the Mortgage Loan in respect of which such
unreimbursed amounts are owed (including amounts paid by the Depositor in
connection with the purchase or substitution of Mortgage Loans pursuant to
Section 2.05 or 3.03 above or, to the extent such amounts were specifically
intended to cover the fees and expenses of the Servicer, by the Certificate
Insurer in connection with the purchase of all the Mortgage Loans and REO
Properties with respect to a Sub-Pool pursuant to Section 11.01). The
Servicer's right to reimbursement for unreimbursed Monthly Advances and
amounts described in Section 6.13(b) or Section 6.13(c) (if the Servicer is
the Depositor) shall be limited to collections of interest on any Mortgage
Loan; provided that the Servicer shall not be entitled to reimbursement
from Liquidation Proceeds for Monthly Advances made pursuant to Section
6.09(c), or for amounts deposited in the related Certificate Account
pursuant to Section 6.13(b) or Section 6.13(c) and attributable to the
conveyance to the Trustee of a Subsequent Mortgage Loan that does not have
a payment date during the related Due Period. It is understood that the
Servicer's right to reimbursement pursuant hereto shall be senior to the
rights of Certificateholders unless the Depositor or any of its affiliates
is the Servicer and the Depositor is required to repurchase or substitute a
Mortgage Loan pursuant to Section 2.05 or 3.03 above, in which case the
Servicer's right to such reimbursement shall be subordinate to the rights
of Certificateholders to receive the purchase price or substitution
adjustment pursuant to such Sections 2.05 and 3.03;
(iii) to withdraw any amount received from a Mortgagor that is
recoverable and sought to be recovered as a voidable preference by a
trustee in bankruptcy pursuant to the United States Bankruptcy Code in
accordance with a final, nonappealable order of a court having competent
jurisdiction;
(iv) (a) to make investments in Permitted Instruments and (b) to pay
to itself interest earned in respect of Permitted Instruments or on funds
deposited in the related Principal and Interest Account;
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(v) to withdraw any funds deposited in the related Principal and
Interest Account that were not required to be deposited therein (such as
Servicing Compensation) or were deposited therein in error;
(vi) to pay itself Servicing Compensation pursuant to Section 7.03 to
the extent not retained or paid pursuant to Section 5.03 or 5.04(ii);
(vii) to withdraw funds necessary for the conservation and disposition
of REO Property pursuant to the third paragraph of Section 5.10;
(viii) to remit to the Trustee any amount which was deposited by the
Certificate Insurer pursuant to Section 11.01 to cover unpaid fees and
expenses of the Trustee; and
(ix) to clear and terminate the related Principal and Interest Account
upon the termination of this Agreement with any amounts on deposit therein
being paid to the Servicer and/or the Depositor to the extent of any
Reimbursable Amounts and the remainder to the Class R Certificateholders.
So long as no Event of Default shall have occurred and be continuing, and
consistent with any requirements of the Code, the funds held in the related
Principal and Interest Account may be invested by the Servicer (to the extent
practicable) in Permitted Instruments, as directed in writing to the Trustee by
the Servicer. In either case, funds in the related Principal and Interest
Account must be available for withdrawal without penalty, and any Permitted
Instruments must mature not later than the Business Day immediately preceding
the Determination Date next following the date of such investment (except that
if such Permitted Instrument is an obligation of the institution that maintains
the related Principal and Interest Account, then such Permitted Instrument shall
mature not later than such Determination Date) and shall not be sold or disposed
of prior to its maturity. All Permitted Instruments in which funds in the
related Principal and Interest Account are invested must be held by or
registered in the name of "Lee Servicing Company, a division of Superior Bank
FSB, in trust for the registered holders of AFC Mortgage Loan Asset Backed
Certificates, Series 1996-3." All interest or other earnings from funds on
deposit in the related Principal and Interest Account (or any Permitted
Instruments thereof) shall be the exclusive property of the Servicer, and may be
withdrawn from the related Principal and Interest Account pursuant to clause
(iv) above and the penultimate sentence of Section 5.03 above. The amount of any
losses incurred in connection with the investment of funds in the related
Principal and Interest Account in Permitted Instruments shall be deposited in
the related Principal and Interest Account by the Servicer from its own funds
immediately as realized without reimbursement therefor.
Section 5.05 Payment of Property Taxes, Insurance and Other Charges.
With respect to each Mortgage Loan, the Servicer shall maintain accurate
records reflecting fire and hazard insurance coverage.
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With respect to each Mortgage Loan as to which the Servicer maintains
escrow accounts, the Servicer shall maintain accurate records reflecting the
status of ground rents, real estate taxes and assessments, water rates and other
charges which are or may become a lien upon the Mortgaged Property and the
status of primary mortgage guaranty insurance premiums, if any, and fire and
hazard insurance coverage and shall obtain, from time to time, all bills for the
payment of such charges (including renewal premiums) and shall effect payment
thereof prior to the applicable penalty or termination date and at a time
appropriate for securing maximum discounts allowable, employing for such purpose
deposits of the Mortgagor in any escrow account which shall have been estimated
and accumulated by the Servicer in amounts sufficient for such purposes, as
allowed under the terms of the Mortgage. To the extent that a Mortgage does not
provide for escrow payments, the Servicer shall monitor such payments to
determine if they are made by the Mortgagor. Any out-of-pocket expenses incurred
by the Servicer pursuant to this Section 5.05, including without limitation any
advances of such payments, shall constitute Servicing Advances.
Section 5.06 Transfer of Accounts; Monthly Statements.
Notwithstanding Section 5.03 above, the Principal and Interest Accounts and
each of the other Accounts shall be established, as of the Closing Date, with
the Trustee as Eligible Accounts pursuant to clause (B) of the definition
thereof. The Principal and Interest Accounts and each of the Accounts or any of
them may, upon written notice to the Trustee and the Certificate Insurer, be
transferred to a different depository institution so long as such transfer is to
an Eligible Account. The Certificate Insurer shall be provided with a monthly
statement of activity in the Principal and Interest Accounts and the Accounts
from each party holding such accounts.
Section 5.07 Maintenance of Hazard Insurance.
The Servicer shall cause to be maintained, subject to the provisions of
Section 5.08, fire and hazard insurance with extended coverage customary in the
area where the Mortgaged Property is located, in an amount which is at least
equal to the least of (a) the outstanding principal balance owing on the
Mortgage Loan, and the First Lien, with respect to Sub-Pool 1, (b) the full
insurable value of the premises securing the Mortgage Loan and (c) the minimum
amount required to compensate for damage or loss on a replacement cost basis. If
at the origination of the Mortgage Loan or at any time during the term of the
Mortgage Loan the Servicer determines that the Mortgaged Property is located in
an area identified on a Flood Hazard Boundary Map or Flood Insurance Rate Map
issued by the Flood Emergency Management Agency as having special flood hazards
and flood insurance has been made available, the Servicer will cause to be
purchased a flood insurance policy meeting the requirements of the current
guidelines of the Federal Insurance Administration with a generally acceptable
insurance carrier, in an amount representing coverage not less than the lesser
of (i) the outstanding principal balance of the Mortgage Loan or (ii) the
maximum amount of insurance which is available under the National Flood
Insurance Act of 1968, the Flood Disaster Protection Act of 1973 or the National
Flood Insurance Reform Act of 1994, as amended. The Servicer
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shall also maintain, to the extent such insurance is available, on REO Property,
fire and hazard insurance in the amounts described above, liability insurance
and, to the extent required and available under the National Flood Insurance Act
of 1968, as amended, and the Servicer determines that such insurance is
necessary in accordance with accepted first and second mortgage servicing
practices of prudent lending institutions with respect to Sub-Pool 1, and in
accordance with accepted first mortgage servicing practices of prudent lending
institutions with respect to Sub-Pool 2, flood insurance in an amount equal to
that required above. Any amounts collected by the Servicer under any such
policies (other than amounts to be applied to the restoration or repair of the
Mortgaged Property, or to be released to the Mortgagor in accordance with
customary first and second mortgage servicing procedures with respect to
Sub-Pool 1, and with customary first mortgage servicing procedures with respect
to Sub-Pool 2) shall be deposited in the Principal and Interest Account with
respect to the related Sub-Pool, subject to retention by the Servicer to the
extent such amounts constitute Servicing Compensation or to withdrawal pursuant
to Section 5.04 above. It is understood and agreed that no earthquake or other
additional insurance need be required by the Servicer of any Mortgagor or
maintained on REO Property, other than pursuant to such applicable laws and
regulations as shall at any time be in force and as shall require such
additional insurance. All policies required hereunder shall be endorsed with
standard mortgagee clauses with losses payable to the Servicer. Any
out-of-pocket expenses incurred by the Servicer pursuant to this Section 5.07,
including without limitation any advances of premiums on insurance policies
required by this Section 5.07, shall constitute Servicing Advances.
Section 5.08 Maintenance of Mortgage Impairment Insurance Policy.
In the event that the Servicer shall obtain and maintain a blanket policy
insuring against fire and hazards of extended coverage on all of the Mortgage
Loans or all of the Mortgage Loans in a Sub-Pool, then, to the extent such
policy names the Servicer as loss payee and provides coverage in an amount equal
to the aggregate unpaid principal balance on the related Mortgage Loans without
co-insurance, and otherwise complies with the requirements of Section 5.07
above, the Servicer shall be deemed conclusively to have satisfied its
obligations with respect to fire and hazard insurance coverage under Section
5.07 above, it being understood and agreed that such blanket policy may contain
a deductible clause, in which case the Servicer shall, in the event that there
shall not have been maintained on the related Mortgaged Property a policy
complying with Section 5.07 above, and there shall have been a loss which would
have been covered by such policy, deposit in the related Principal and Interest
Account the difference, if any, between the amount that would have been payable
under a policy complying with Section 5.07 above and the amount paid under such
blanket policy. On the Closing Date, such blanket policy is maintained with St.
Paul Insurance Company.
Section 5.09 Fidelity Bond.
The Servicer shall maintain with a responsible company, and at its own
expense, a blanket fidelity bond and an errors and omissions insurance policy,
in a minimum amount acceptable to FNMA or FHLMC or otherwise as is commercially
available at a cost that is not
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generally regarded as excessive by industry standards, with broad coverage on
all officers, employees or other persons acting in any capacity requiring such
persons to handle funds, money, documents or papers relating to the Mortgage
Loans ("Servicer Employees"). Any such fidelity bond and errors and omissions
insurance shall protect and insure the Servicer against losses, including losses
resulting from forgery, theft, embezzlement, fraud, errors and omissions and
negligent acts of such Servicer Employees. Such fidelity bond shall also protect
and insure the Servicer against losses in connection with the release or
satisfaction of a Mortgage Loan without having obtained payment in full of the
indebtedness secured thereby. No provision of this Section 5.09 requiring such
fidelity bond and errors and omissions insurance shall diminish or relieve the
Servicer from its duties and obligations as set forth in this Agreement. Upon
the request of the Trustee or the Certificate Insurer, the Servicer shall cause
to be delivered to the Trustee or the Certificate Insurer a certified true copy
of such fidelity bond and insurance policy.
Section 5.10 Title, Management and Disposition of REO Property.
In the event that title to any Mortgaged Property is acquired in
foreclosure or by deed in lieu of foreclosure (an "REO Property"), the deed or
certificate of sale shall be taken in the name of the Trustee for the benefit of
the Certificateholders.
The Servicer shall manage, conserve, protect and operate each REO Property
for the Certificateholders solely for the purpose of its prudent and prompt
disposition and sale. The Servicer shall, either itself or through an agent
selected by the Servicer, manage, conserve, protect and operate the REO Property
in the same manner that it manages, conserves, protects and operates other
foreclosed property for its own account, and in the same manner that similar
property in the same locality as the REO Property is managed. The Servicer shall
attempt to sell the same (and may temporarily rent the same) on such terms and
conditions as the Servicer deems to be in the best interest of the Certificate
Insurer and the Certificateholders. Any out-of-pocket expenses incurred by the
Servicer pursuant to this Section 5.10 shall be Servicing Advances.
The Servicer shall cause to be deposited, no later than five Business Days
after the receipt thereof, in the related Principal and Interest Account, all
revenues received with respect to the conservation and disposition of the
related REO Property and shall retain, or withdraw from such amounts, funds
necessary for the proper operation, management and maintenance of the related
REO Property and the fees of any managing agent acting on behalf of the
Servicer.
The disposition of REO Property shall be carried out by the Servicer at
such price, and upon such terms and conditions, as the Servicer deems to be in
the best interest of the Certificateholders and, as soon as practicable
thereafter, the expenses of such sale shall be paid. The proceeds of sale of the
REO Property shall be promptly deposited in the related Principal and Interest
Account, net of Excess Proceeds, any related unreimbursed Servicing Advances,
accrued and unpaid Servicing Fees and unreimbursed Monthly Advances payable to
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the Servicer in accordance with Section 5.04 above, for distribution to the
Certificateholders in accordance with Section 6.06.
In the event any Mortgaged Property is acquired as aforesaid or otherwise
in connection with a default or imminent default on a Mortgage Loan, the
Servicer shall sell such Mortgaged Property for cash within two years after its
acquisition of such Mortgaged Property for purposes of Section 860(G)(a)(8) of
the Code unless the Servicer either (i) applies, at the expense of the Trust
Fund (as a Servicing Advance), more than 60 days prior to the expiration of such
two year period, and is granted an extension of time by the Internal Revenue
Service to sell such Mortgaged Property (in which case the Servicer shall sell
such Mortgaged Property prior to the expiration of any extension to such
two-year grace period) or (ii) receives an Opinion of Counsel to the effect that
the holding of such Mortgaged Property subsequent to two years after its
acquisition will not result in the imposition of taxes on "prohibited
transactions" as defined in section 860F of the Code or cause the Trust Fund
REMIC to fail to qualify as a REMIC at any time that any Class A Certificates
are outstanding. Notwithstanding any other provision of this Agreement, (i) no
Mortgaged Property acquired by the Servicer pursuant to this Section shall be
rented (or allowed to continue to be rented) or otherwise used for the
production of income by or on behalf of the Trust Fund, and (ii) no construction
shall take place on such Mortgaged Property in such a manner or pursuant to any
terms, such that in the case of either clause (i) or (ii) such action would
cause such Mortgaged Property to fail to qualify as "foreclosure property"
within the meaning of section 860G(a)(8) of the Code or result in the receipt by
the Trust Fund or any "net income from foreclosure property" which is subject to
taxation within the meaning of Sections 860G(c) and 857(b)(4)(B) of the Code.
Any out-of-pocket expenses incurred by the Servicer including any Opinions of
Counsel pursuant to this Section 5.10 shall constitute Servicing Advances. If a
period greater than two years is permitted under this Agreement and is necessary
to sell any REO Property, the Servicer shall give appropriate notice to the
Trustee and the Certificate Insurer and shall report monthly to the Trustee as
to the progress being made in selling such REO Property.
With respect to each Sub-Pool 1 Multifamily Loan and Sub-Pool 1 Mixed Use
Loan:
(i) Prior to the acquisition of title to such property, the Servicer
shall review the operation of such property and determine the nature of the
income that would be derived from such property if it were acquired by the
Trust Fund. If the Servicer determines from such review that:
(A) None of the income from Directly Operating such property
would be subject to tax as "net income from foreclosure property"
within the meaning of the REMIC Provisions or would be subject to the
tax imposed on "prohibited transactions" under Section 860F of the
Code (either such tax referred to herein as an "REO Tax"), such
property may be Directly Operated by the Servicer as REO Property;
(B) Directly Operating such property as an REO Property could
result in income from such property that would be subject to an REO
Tax, but that a lease of such
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property to another party to operate such property, or the performance
of some services by an Independent Contractor with respect to such
property, or another method of operating such property would not
result in income subject to an REO Tax, then the Servicer may
(provided, that in the good faith and reasonable judgment of the
Servicer, it is commercially feasible) acquire such property as REO
Property and so lease or operate such REO Property; or
(C) It is reasonable to believe that Directly Operating such
property as REO Property could result in income subject to an REO Tax
and that no commercially reasonable feasible means exists to operate
such property as REO Property without the Trust Fund incurring or
possibly incurring an REO Tax on income from such property. The
Servicer shall give written notice to the Trustee and the Certificate
Insurer summarizing a proposed plan ("Proposed Plan") to manage such
property as REO Property. Such notice shall include potential sources
of income, and to the extent reasonably feasible, estimates of the
amount of income from each such source. Within a reasonable period of
time after receipt of such notice, the Servicer shall consult with the
Trustee and the Certificate Insurer and shall advise the Trustee and
the Certificate Insurer of the Servicer's federal income tax reporting
position with respect to the various sources of income that the Trust
Fund would derive under the Proposed Plan. In addition, the Trustee
shall (to the extent feasible) advise the Servicer and the Certificate
Insurer of the estimated amount of taxes that the Trust Fund would be
required to pay with respect to each such source of income. After the
Servicer has provided the Trustee and the Certificate Insurer with the
information described in the two preceding sentences, the Servicer
shall either (A) implement the Proposed Plan (after acquiring the
respective property as REO Property) or (B) manage and operate such
property in a manner that would not result in the imposition of an REO
Tax on the income derived from such property. The Servicer's decision
as to how each REO Property shall be managed and operated shall be
based in either case on the good faith and reasonable judgment of the
Servicer after consultation with the Certificate Insurer as to which
means would be in the best interest of the Certificateholders and the
Certificate Insurer by maximizing (to the extent commercially
feasible) the net after-tax REO Proceeds received by the Trust Fund
with respect to such property and, to the extent consistent with the
foregoing, in the same manner as would prudent mortgage loan servicers
and asset managers operating acquired mortgaged property comparable to
the respective property. The Servicer, the Trustee and the Certificate
Insurer may consult with counsel in connection with determinations
required under this Section 5.10(i)(C). The cost of such consultation
by the Servicer shall constitute a Servicing Advance. Neither the
Servicer nor the Trustee shall be liable to the Certificateholders,
the Trust Fund, the Trustee, the Servicer or each other for errors in
judgment made in good faith in the exercise of their discretion while
performing their respective responsibilities under this Section
5.10(i)(C). Nothing in this Section 5.10(i)(C) is intended to prevent
the sale of a Defaulted Mortgage Loan pursuant to the terms and
subject to the conditions of Section 5.11.
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Section 5.11 Right to Repurchase Defaulted Mortgage Loans.
The Servicer, in its sole discretion, shall have the right to elect (by
written notice sent to the Trustee) to purchase on any Determination Date for
its own account from the Trust Fund any Mortgage Loan which is 90 days or more
delinquent at a price equal to the Principal Balance of such Mortgage Loan as of
the date of purchase, plus all accrued and unpaid interest on such Mortgage Loan
through the end of the Due Period in which such Determination Date falls,
computed at the Mortgage Rate plus the amount of any unreimbursed Servicing
Advances made by the Servicer with respect to such Mortgage Loan (the "Purchase
Price"). The Purchase Price for any Mortgage Loan purchased hereunder shall be
deposited by the Servicer in the related Principal and Interest Account and the
Trustee, upon receipt of a Request for Release and confirmation of such deposit
from the Servicer in the form of Exhibit I, shall release or cause to be
released to the purchaser of such Mortgage Loan the related Mortgage File and
shall execute and deliver such instruments of transfer or assignment prepared by
the purchaser of such Mortgage Loan, in each case without recourse,
representation or warranty, as shall be necessary to vest in the purchaser of
such Mortgage Loan any Mortgage Loan released pursuant hereto and the purchaser
of such Mortgage Loan shall succeed to all the Trustee's right, title and
interest in and to such Mortgage Loan and all security and documents related
thereto. Such assignment shall be an assignment outright and not for security.
The purchaser of such Mortgage Loan shall thereupon own such Mortgage Loan, and
all security and documents, free of any further obligation to the Trustee or the
Certificateholders with respect thereto.
Section 5.12 Collection of Certain Mortgage Loan Payments.
The Servicer shall make reasonable efforts to collect all payments called
for under the terms and provisions of the Mortgage Loans, and shall, to the
extent such procedures shall be consistent with this Agreement, comply with the
terms and provisions of any applicable hazard insurance policy. Consistent with
the foregoing, the Servicer may in its discretion waive or permit to be waived
any late payment charge, prepayment charge, assumption fee or any penalty
interest in connection with the prepayment of a Mortgage Loan or any other fee
or charge which the Servicer would be entitled to retain hereunder as servicing
compensation and extend the due date for payments past due on a Mortgage Note
for a period (with respect to each payment as to which the due date is extended)
not greater than 125 days without the Certificate Insurer's prior written
consent, and in no event later than the final maturity date of the Mortgage
Loan, provided that such extension would not be considered a new mortgage loan
for federal income tax purposes. In the event the Servicer shall consent to the
deferment of the Due Dates for payments past due on a Mortgage Note, the
Servicer shall nonetheless make payment of any required Monthly Advance with
respect to the payments so extended to the same extent as if such installment
were due, owing and delinquent and had not been deferred, and shall be entitled
to reimbursement therefor in accordance with Section 5.04(ii) above.
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Section 5.13 Access to Certain Documentation and Information Regarding the
Mortgage Loans.
The Servicer shall provide to the Trustee, the Certificateholders, the
Certificate Insurer and any supervisory agents or examiners of each of the
foregoing access to the documentation regarding the Mortgage Loans (such access
in the case of supervisory agents or examiners being limited to that
documentation required by applicable state and federal regulations) being
afforded without charge but only upon reasonable request and during normal
business hours at the offices of the Servicer designated by it.
Section 5.14 Superior Liens.
With respect to any Sub-Pool 1 Mortgage Loan, the Depositor or the Servicer
shall file (or cause to be filed) of record a request for notice of any action
by a superior lienholder under a First Lien for the protection of the Trustee's
interest, where permitted by local law and whenever applicable state law does
not require that a junior lienholder be named as a party defendant in
foreclosure proceedings in order to foreclose such junior lienholder's equity of
redemption. The Servicer must also notify any superior lienholder in writing of
the existence of the Mortgage Loan and request notification of any action (as
described below) to be taken against the Mortgagor or the Mortgaged Property by
the superior lienholder.
With respect to any Sub-Pool 1 Mortgage Loan, if the Servicer is notified
that any superior lienholder has accelerated or intends to accelerate the
obligations secured by the First Lien, or has declared or intends to declare a
default under the mortgage or the promissory note secured thereby, or has filed
or intends to file an election to have the Mortgaged Property sold or
foreclosed, the Servicer shall take, on behalf of the Trust Fund, whatever
actions are necessary to protect the interests of the Certificateholders, and/or
to preserve the security of the related Mortgage Loan, subject to the
application of the REMIC Provisions. The Servicer shall advance the necessary
funds to cure the default or reinstate the superior lien, if such advance is in
the best interests of the Certificate Insurer and the Certificateholders. The
Servicer shall not make such an advance except to the extent that it determines
in its reasonable good faith judgment that the advance would either be
recoverable from the Liquidation Proceeds on the related Mortgage Loan or
increase the Net Liquidation Proceeds available to the Trust Fund. The Servicer
shall thereafter take such action as is necessary to recover the amount so
advanced. Any expenses incurred by the Servicer pursuant to this Section 5.14
shall be Servicing Advances with respect to Sub-Pool 1.
Section 5.15. Environmental Matters.
Notwithstanding any other provision of this Agreement to the contrary, with
respect to any Mortgage Loan as to which the Servicer has received actual notice
of, or has actual knowledge of, the presence of any regulated substance, toxic
substance, hazardous waste or hazardous substance or any similar or like
classification (as such terms are defined or used in CERCLA or any federal,
state or local statutes, laws, rules or regulations pertaining to
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environmental matters) on the related Mortgaged Property, the Servicer shall
not, on behalf of the Trustee, either (i) obtain title to such Mortgaged
Property as a result of or in lieu of foreclosure or otherwise, or (ii)
otherwise acquire possession of, or take any other action, with respect to, such
Mortgaged Property, unless the Servicer has obtained the prior written consent
of the Certificate Insurer. The preceding sentence shall not apply to the
presence, use or storage on the related Mortgaged Property of hazardous
substances that are generally recognized to be appropriate to normal residential
use and maintenance of the related Mortgaged Property.
Section 5.16 Acknowledgment of Duties and Obligations.
Any provision hereof to the contrary notwithstanding, the Depositor
acknowledges that (i) as of the Closing Date the Servicer is an unincorporated
division of the Depositor, (ii) actions and agreements by an unincorporated
division of the Depositor are those of the Depositor and (iii) the Depositor is
responsible for all duties and obligations of its unincorporated division
hereunder.
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ARTICLE VI
PAYMENTS TO THE CERTIFICATEHOLDERS
Section 6.01 Establishment of Certificate Account; Deposits in Certificate
Account.
With respect to each Sub-Pool, and no later than the Closing Date, the
Trustee will establish and maintain with itself one or more segregated trust
accounts that are Eligible Accounts, which shall be titled, with respect to
Sub-Pool 1, "Sub-Pool 1 Certificate Account, LaSalle National Bank, as trustee
for the registered holders of AFC Mortgage Loan Asset Backed Certificates,
Series 1996-3" and with respect to Sub-Pool 2, "Sub-Pool 2 Certificate Account,
LaSalle National Bank, as trustee for the registered holders of AFC Mortgage
Loan Asset Backed Certificates, Series 1996-3." With respect to each Sub-Pool,
the Trustee shall, promptly upon receipt, deposit in the related Certificate
Account and retain therein:
(i) the related Available Remittance Amount (net of the amount of
Monthly Advances and Compensating Interest deposited pursuant to
subclause (ii) below) remitted by the Servicer pursuant to Section
5.04(i) above;
(ii) the related Monthly Advance and related Compensating
Interest remitted to the Trustee by the Servicer;
(iii) the Excess Spread with respect to the related Sub-Pool
remitted to the Trustee by the Servicer pursuant to Section 5.04(i)
above and Insured Payments with respect to the related Sub-Pool
pursuant to Section 6.06(b);
(iv) all income or gain from investments of funds on deposit in
the related Certificate Account pursuant to Section 6.05(e) and
amounts required to be paid by the Servicer pursuant to such Section
6.05(e) in connection with losses on investments of amounts in the
related Certificate Account;
(v) the Termination Price; and
(vi) any amount required to be deposited in the related
Certificate Account pursuant to Section 6.14(c).
Section 6.02 Permitted Withdrawals from Certificate Account.
With respect to each Sub-Pool, the Trustee shall, based upon information
set forth in the Servicer's Certificate for such Remittance Date, withdraw
amounts on deposit in the related Certificate Account on each Remittance Date in
the following order of priority:
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(i) except as to the final Remittance Date hereunder, to pay the
Certificate Insurer the related Monthly Premium pursuant to Section
6.04;
(ii) to effect the distributions described in Section 6.06(c),
exclusive of the distributions described in the last paragraph of
Section 6.06(c);
(iii) except as to the final Remittance Date hereunder, to make
deposits in the related Trustee Expense Account pursuant to Section
6.03(a)(i);
and also, in no particular order of priority:
(iv) to invest amounts on deposit in the related Certificate
Account in Permitted Instruments pursuant to Section 6.05;
(v) to pay on a monthly basis to the Servicer interest paid and
earnings realized on Permitted Instruments in the related Certificate
Account;
(vi) to withdraw any amount not required to be deposited in the
related Certificate Account or deposited therein in error; and
(vii) to clear and terminate the related Certificate Account upon
the termination of this Agreement in accordance with Article XI of
this Agreement.
Section 6.03 Establishment of Trustee Expense Account; Deposits in Trustee
Expense Account; Permitted Withdrawals from Trustee Expense
Account.
(a) With respect to each Sub-Pool and no later than the Closing Date, the
Trustee will establish and maintain with itself one or more segregated trust
accounts that are Eligible Accounts, which shall be titled, with respect to
Sub-Pool 1, "Sub-Pool 1 Trustee Expense Account, LaSalle National Bank, as
trustee for the registered holders of AFC Mortgage Loan Asset Backed
Certificates, Series 1996-3", and with respect to Sub-Pool 2, "Sub-Pool 2
Trustee Expense Account, LaSalle National Bank, as trustee for the registered
holders of AFC Mortgage Loan Asset Backed Certificates, Series 1996-3." With
respect to each Sub-Pool, the Trustee shall deposit into the related Trustee
Expense Account:
(i) on each Remittance Date (other than the final Remittance Date
hereunder) from the amounts on deposit in the related Certificate
Account an amount equal to the Annual Trustee Expense Amount, subject
to the provisions of Section 6.06(c); and
(ii) upon receipt, all income or gain from investments of funds
on deposit in the related Trustee Expense Account pursuant to Section
6.05(e) and all amounts
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required to be paid by the Servicer pursuant to such Section 6.05(e)
in connection with losses on investments of amounts in the related
Trustee Expense Account.
If at any time the amount then on deposit in any Trustee Expense Account shall
be insufficient to pay in full the fees and expenses of the Trustee then due
with respect to a Sub-Pool, the Trustee shall make demand on the related
Servicer to advance the amount of such insufficiency, and the Servicer shall
promptly advance such amount. If the related Servicer fails to make such
advance, the Depositor shall do so upon demand of the Trustee. Thereafter, the
Servicer and the Depositor shall be entitled to reimbursement solely from the
related Trustee Expense Account pursuant to subclause (c)(ii) below for the
amount of any such advance from any excess available after payment of Trust Fund
expenses.
(b) The Trustee may withdraw amounts on deposit in the Trustee Expense
Account with respect to each Sub-Pool for investment in Permitted Instruments
pursuant to Section 6.05, and the Trustee shall withdraw amounts on deposit in
the related Trustee Expense Account:
(i) to pay, as described in Section 2.08 above, the Trustee's
fees and expenses allocable to or incurred in connection with the
Certificates with respect to the related Sub-Pool;
(ii) to pay on a monthly basis to the Servicer interest paid and
earnings realized on Permitted Instruments in the related Trustee
Expense Account;
(iii) to withdraw any amounts not required to be deposited in the
related Trustee Expense Account or deposited therein in error; and
(iv) to clear and terminate the related Trustee Expense Account
upon termination of this Agreement with any amounts on deposit therein
being paid to the Servicer and/or the Depositor to the extent of any
Reimbursable Amounts and the remainder to the Class R
Certificateholders.
(c) On the twelfth Remittance Date following the Closing Date, and on each
twelfth Remittance Date thereafter, the Trustee shall determine whether all
payments required to be made pursuant to subclauses (b)(i), (b)(ii) and (b)(iii)
above, have been made, and from any amounts remaining in the related Trustee
Expense Account, the Trustee shall, based upon information set forth in the
Servicer's Certificate for such Remittance Date (in the following order of
priority):
(i) pay any amounts not previously paid and required to be paid
pursuant to subclauses (b)(i), (b)(ii) and (b)(iii) above;
(ii) reimburse the Servicer and/or the Depositor, for
Reimbursable Amounts;
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(iii) reimburse the Servicer and/or the Depositor for advances
made by it pursuant to the last paragraph of subclause (a) above; and
(iv) remit to the Servicer as additional Servicing Compensation
any amounts remaining in the related Trustee Expense Account after
payments made pursuant to subclauses (b)(i), (b)(ii), (b)(iii), (c)(i)
and (c)(ii), above.
Section 6.04 Payment of Monthly Premium to Certificate Insurer.
With respect to each Sub-Pool and on each Remittance Date commencing on
October 25, 1996 (other than the final Remittance Date hereunder), from the
amounts on deposit in the Certificate Account with respect to the related
Sub-Pool, prior to making the remittances required pursuant to Section 6.06(c),
the Trustee shall pay the Certificate Insurer the Monthly Premium with respect
to such Sub-Pool.
Section 6.05 Investment of Accounts.
(a) So long as no Event of Default shall have occurred and be continuing,
and consistent with any requirements of the Code, all or a portion of any
Account, except the Pre-Funding Accounts held by the Trustee, shall be invested
and reinvested by the Trustee, as directed in writing, or by telephone or
facsimile transmission confirmed in writing, by the Servicer, in one or more
Permitted Instruments. Subject to the last paragraph of Section 5.04 above in
the case of the Principal and Interest Accounts, no such investment in any
Account shall mature later than the Business Day immediately preceding the next
Remittance Date. Consistent with any requirements of the Code, all or a portion
of the Reserve Accounts held by the Trustee shall be invested and reinvested by
the Trustee, as directed in writing, or by telephone or facsimile transmission
confirmed in writing, by the Holders of a majority in Percentage Interest of the
Class R Certificates in one or more Permitted Instruments. No such investment
shall mature later than the Business Day immediately preceding the next
Remittance Date.
(b) If any amounts are needed for disbursement from any Account held by the
Trustee and sufficient uninvested funds are not available to make such
disbursement, the Trustee shall cause to be sold or otherwise converted to cash
a sufficient amount of the investments in such Account. The Trustee shall not be
liable for any investment loss or other charge resulting therefrom unless the
Trustee's failure to perform in accordance with this Section 6.05 is the cause
of such loss or charge or if the Trustee is the obligor and has defaulted
thereon.
(c) Subject to Section 12.01, the Trustee shall not in any way be held
liable by reason of any insufficiency in any Account held by the Trustee
resulting from any investment loss on any Permitted Instrument included therein
(except to the extent that the Trustee is the obligor and has defaulted
thereon).
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(d) The Trustee shall invest and reinvest funds in the Accounts held by the
Trustee, to the fullest extent practicable, in such manner as the Servicer or
the Holders of a majority in Percentage Interest of the Class R Certificates, as
applicable, shall from time to time direct as set forth in Section 6.05(a)
above, but only in one or more Permitted Instruments.
(e) All income or other gain from investments in any Account held by the
Trustee shall be deposited in such Account immediately on receipt, and the
Trustee shall notify the Servicer, or the Depositor, or the Holders of a
majority in Percentage Interest of the Class R Certificates as the case may be,
of any loss resulting from such investments. Upon receipt of such notification,
the Servicer, in the case of all Accounts other than the Interest Coverage
Accounts, the Supplemental Interest Account and the Reserve Accounts, the
Depositor, in the case of the Interest Coverage Accounts and the Supplemental
Interest Account and the Class R Certificateholders in the case of the Reserve
Accounts, shall promptly remit the amount of any such loss from their own funds,
without reimbursement therefor, to the Trustee for deposit in the Account or
Accounts from which the related funds were withdrawn for investment.
Section 6.06 Priority and Subordination of Distributions.
(a) The rights of the Certificateholders to receive distributions from the
proceeds of the Trust Fund, and all ownership interests of the
Certificateholders in such distributions, shall be as set forth in this
Agreement. In this regard, all rights of the Class R Certificateholders to
receive distributions in respect of the Class R Certificates shall be subject
and subordinate to the preferential rights of the Class A Certificateholders to
receive distributions in respect of the Class A Certificates, to the extent set
forth herein. In accordance with the foregoing, the ownership interests of the
Class R Certificateholders in amounts deposited in the Accounts from time to
time shall not vest unless and until such amounts are properly distributed in
respect of the Class R Certificates in accordance with the terms of this
Agreement. Notwithstanding anything contained in this Agreement to the contrary,
no Certificateholder shall be required to refund any amount properly distributed
to it pursuant to the terms of this Agreement.
(b) As soon as possible, and in no event later than 10:00 a.m. Chicago time
on the Business Day immediately preceding each Remittance Date, subject to
receipt by the Trustee of the Servicer's Certificate, the Trustee shall furnish
the Certificate Insurer and the Servicer with a completed notice in the form set
forth as Exhibit K (the "Notice") in the event that an Event of Nonpayment,
pursuant to clause (i) or (ii) of the definition thereof, has occurred with
respect to such Remittance Date. The Notice shall specify the amount of Insured
Payment and shall constitute a claim for an Insured Payment pursuant to the
Certificate Insurance Policy. Upon receipt of Insured Payments on behalf of the
Class A Certificateholders under the Certificate Insurance Policy, the Trustee
shall deposit such Insured Payments in the related Certificate Account and shall
distribute such Insured Payments in accordance with Section 6.02(ii) above and
Section 6.06(c) and (d).
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Each Class A Certificateholder shall promptly notify the Trustee in writing
upon the receipt of a court order as described in clause (c)(vii) of the
definition of Class A Principal Remittance Amount. The Trustee shall promptly
notify the Certificate Insurer upon its receipt from any Certificateholder of
any such court order. If the payment of any Mortgagor payment or Monthly Advance
is avoided as a preference pursuant to a final, nonappealable order under the
United States Bankruptcy Code, the Certificate Insurer shall cause such payment
to be made on the second Business Day following receipt by the Certificate
Insurer of a copy of the order and an assignment duly executed and delivered by
the Class A Certificateholder, in such form as is reasonably required by the
Certificate Insurer and provided to the Class A Certificateholder by the
Certificate Insurer, irrevocably assigning to the Certificate Insurer all rights
and claims of the Class A Certificateholder relating to or arising under the
Class A Certificates against the debtor which made such preference payment or
otherwise with respect to such preference payment and appointment of the
Certificate Insurer as such Certificateholder's agent. Such payment shall be
disbursed to the receiver, conservator, debtor-in-possession or trustee in
bankruptcy named in the order and not to the Trustee or any Class A
Certificateholder directly (unless a Class A Certificateholder has previously
paid such amount to the receiver, conservator, debtor-in-possession or trustee
in bankruptcy named in the order, in which case such payment shall be disbursed
to the Trustee for distribution to such Class A Certificateholder upon proof of
such payment reasonably satisfactory to the Certificate Insurer).
The Certificate Insurer shall only be required to pay one Insured Payment
in respect of a Remittance Date. Consequently, a Class A Certificateholder shall
not be entitled to reimbursement with respect to any order relating to the Class
A Certificateholder's receipt of funds representing Insured Payments made by the
Certificate Insurer.
The Trustee shall receive, as attorney-in-fact of each Holder of a Class A
Certificate, any Insured Payment with respect to the related Sub-Pool from the
Certificate Insurer and disburse the same to each Holder of a Class A
Certificate with respect to the related Sub-Pool in accordance with the
provisions of this Section 6.06. Insured Payments disbursed by the Trustee from
proceeds of the Certificate Insurance Policy shall not be considered payment by
the Trust Fund nor shall such payments discharge the obligation of the Trust
Fund with respect to such Class A Certificates, and the Certificate Insurer
shall become the owner of such unpaid amounts due from the Trust Fund in respect
of Class A Certificates. The Trustee hereby agrees on behalf of each Holder of a
Class A Certificate for the benefit of the Certificate Insurer that it
recognizes that to the extent the Certificate Insurer makes Insured Payments
with respect to a Sub-Pool, either directly or indirectly (as by paying through
the Trustee), to the related Class A Certificateholders, the Certificate Insurer
will be subrogated to the rights of such Class A Certificateholders, with
respect to such Insured Payment, shall be deemed, to the extent of the payments
so made, to be a registered Class A Certificateholder and shall receive all
future related Class A Remittance Amounts with respect to such Sub-Pool until
all such Insured Payments by the Certificate Insurer have been fully reimbursed,
subject to the following paragraph. To evidence such subrogation, the Trustee
shall, or shall cause the Certificate Registrar to, note the Certificate
Insurer's rights as subrogee on the registration books maintained by the Trustee
or the Certificate Registrar upon receipt from the Certificate Insurer
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of proof of payment of any Insured Payment. Except as otherwise described
herein, the Certificate Insurer shall not acquire any voting rights hereunder as
a result of such subrogation. The effect of the foregoing provisions is that, to
the extent of Insured Payments made by it, the Certificate Insurer shall be paid
before payment of the balance of the Class A Remittance Amount with respect to
the related Sub-Pool for which an Insured Payment was made, is made to the other
Holders of the related Class A Certificates, subject to the following paragraph.
It is understood and agreed that the intention of the parties is that the
Certificate Insurer shall not be entitled to reimbursement on any Remittance
Date for amounts previously paid by it with respect to a Sub-Pool unless on such
Remittance Date the related Class A Certificateholders shall also have received
the full amount of the related Class A Remittance Amount with respect to the
related Class of Class A Certificates (exclusive of any related Class A
Carry-Forward Amount, to the extent representing amounts previously paid to such
related Class A Certificateholders as Insured Payments or representing interest
accrued in respect of Insured Payments) for such Remittance Date.
(c) On or before each Remittance Date, the Servicer shall determine the
Overcollateralization Amount for each Sub-Pool after giving effect to the
distribution of the related Class A Principal Remittance Amount to the Holders
of the related Class of Class A Certificates on such Remittance Date and the
amount of the related Net Excess Spread. On each Remittance Date the Trustee
shall withdraw from each Certificate Account the related Amount Available, and
make distributions thereof, based upon the information set forth in the
Servicer's Certificate for such Remittance Date, in the following order of
priority to the extent available, except to the extent that the priority set
forth in Section 6.07 shall be applicable:
(A) With respect to the Class 1A Certificates and Sub-Pool 1:
If the Remittance Date is prior to the Cross-Over Date, the
Trustee shall distribute the indicated amounts in the following order
of priority:
(X) (i) to the Class 1A-1 Certificateholders (including for
purposes of this Section 6.06(c), the Certificate Insurer as the
subrogee thereof), an amount equal to the lesser of:
(A) the Amount Available with respect to Sub-Pool 1; and
(B) the Class 1A Interest Remittance Amount with respect to
the Class 1A-1 Certificates;
(ii) to the Class 1A-2 Certificateholders (including for purposes
of this Section 6.06(c), the Certificate Insurer as the subrogee
thereof), an amount equal to the lesser of:
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(A) the balance of the Amount Available with respect to
Sub-Pool 1 after payments described in clause (X)(i) above; and
(B) the Class 1A Interest Remittance Amount with respect to
the Class 1A-2 Certificates;
(iii) to the Class 1A-3 Certificateholders (including for
purposes of this Section 6.06(c), the Certificate Insurer as the
subrogee thereof), an amount equal to the lesser of:
(A) the balance of the Amount Available with respect to
Sub-Pool 1 after payments described in clauses (X)(i) and (ii)
above; and
(B) the Class 1A Interest Remittance Amount with respect to
the Class 1A-3 Certificates;
(iv) to the Class 1A-4 Certificateholders (including for purposes
of this Section 6.06(c), the Certificate Insurer as the subrogee
thereof), an amount equal to the lesser of:
(A) the balance of the Amount Available with respect to
Sub-Pool 1 after payments described in clauses (X)(i) through
(iii) above; and
(B) the Class 1A Interest Remittance Amount with respect to
the Class 1A-4 Certificates;
(v) to the Class 1A-5 Certificateholders (including for purposes
of this Section 6.06(c), the Certificate Insurer as the subrogee
thereof), an amount equal to the lesser of:
(A) the balance of the Amount Available with respect to
Sub-Pool 1 after payments described in clauses (X)(i) through
(iv) above; and
(B) the Class 1A Interest Remittance Amount with respect to
the Class 1A-5 Certificates;
(vi) to the Class 1A-6 Certificateholders (including for purposes
of this Section 6.06(c), the Certificate Insurer as the subrogee
thereof), an amount equal to the lesser of:
(A) the balance of the Amount Available with respect to
Sub-Pool 1 after payments described in clauses (X)(i) through (v)
above; and
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(B) the Class 1A Interest Remittance Amount with respect to
the Class 1A-6 Certificates;
(vii) to the Class 1A-1 Certificateholders (including for
purposes of this Section 6.06(c), the Certificate Insurer as the
subrogee thereof), to be applied to reduce the Class 1A-1 Principal
Balance, to the extent described below, until the Class 1A-1 Principal
Balance thereof is reduced to zero and to make payments in respect of
the amounts described in clauses (c)(v) (to the extent the amount in
clause (c)(v) represents prior Insured Payments by the Certificate
Insurer or interest accrued thereon pursuant to the definition of
Class A Carry-Forward Amount) and (c)(vii) of the definition of the
Class A Principal Remittance Amount, the lesser of:
(A) the balance of the Amount Available with respect to
Sub-Pool 1 after payments described in clauses (X)(i) through
(vi) above; and
(B) the Class A Principal Remittance Amount with respect to
the Class 1A-1 Certificates;
(viii) at such time as the Class 1A-1 Principal Balance has been
reduced to zero, to the Class 1A-2 Certificateholders (including for
purposes of this Section 6.06(c), the Certificate Insurer as the
subrogee thereof), to be applied to reduce the Class 1A-2 Principal
Balance, to the extent described below, until the Class 1A-2 Principal
Balance thereof is reduced to zero and to make payments in respect of
the amounts described in clauses (c)(v) (to the extent the amount in
clause (c)(v) represents prior Insured Payments by the Certificate
Insurer or interest accrued thereon pursuant to the definition of
Class A Carry-Forward Amount) and (c)(vii) of the definition of the
Class A Principal Remittance Amount, the lesser of:
(A) the balance of the Amount Available with respect to
Sub-Pool 1 after payments described in clauses (X)(i) through
(vii) above; and
(B) the Class A Principal Remittance Amount with respect to
the Class 1A-2 Certificates;
(ix) at such time as the Class 1A-2 Principal Balance has been
reduced to zero, to the Class 1A-3 Certificateholders (including for
purposes of this Section 6.06(c), the Certificate Insurer as the
subrogee thereof), to be applied to reduce the Class 1A-3 Principal
Balance, to the extent described below, until the Class 1A-3 Principal
Balance thereof is reduced to zero and to make payments in respect of
the amounts described in clauses (c)(v) (to the extent the amount in
clause (c)(v) represents prior Insured Payments by the Certificate
Insurer or interest accrued thereon pursuant to the definition of
Class A Carry-Forward Amount) and (c)(vii) of the definition of the
Class A Principal Remittance Amount, the lesser of:
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(A) the balance of the Amount Available with respect to
Sub-Pool 1 after payments described in clauses (X)(i) through
(viii) above; and
(B) the Class A Principal Remittance Amount with respect to
the Class 1A-3 Certificates;
(x) at such time as the Class 1A-3 Principal Balance has been
reduced to zero, to the Class 1A-4 Certificateholders (including for
purposes of this Section 6.06(c), the Certificate Insurer as the
subrogee thereof), to be applied to reduce the Class 1A-4 Principal
Balance, to the extent described below, until the Class 1A-4 Principal
Balance thereof is reduced to zero and to make payments in respect of
the amounts described in clauses (c)(v) (to the extent the amount in
clause (c)(v) represents prior Insured Payments by the Certificate
Insurer or interest accrued thereon pursuant to the definition of
Class A Carry-Forward Amount) and (c)(vii) of the definition of the
Class A Principal Remittance Amount, the lesser of:
(A) the balance of the Amount Available with respect to
Sub-Pool 1 after payments described in clauses (X)(i) through
(ix) above; and
(B) the Class A Principal Remittance Amount with respect to
the Class 1A-4 Certificates;
(xi) at such time as the Class 1A-4 Principal Balance has been
reduced to zero, to the Class 1A-5 Certificateholders (including for
purposes of this Section 6.06(c), the Certificate Insurer as the
subrogee thereof), to be applied to reduce the Class 1A-5 Principal
Balance, to the extent described below, until the Class 1A-5 Principal
Balance thereof is reduced to zero and to make payments in respect of
the amounts described in clauses (c)(v) (to the extent the amount in
clause (c)(v) represents prior Insured Payments by the Certificate
Insurer or interest accrued thereon pursuant to the definition of
Class A Carry-Forward Amount) and (c)(vii) of the definition of the
Class A Principal Remittance Amount, the lesser of:
(A) the balance of the Amount Available with respect to
Sub-Pool 1 after payments described in clauses (X)(i) through (x)
above; and
(B) the Class A Principal Remittance Amount with respect to
the Class 1A-5 Certificates;
(xii) at such time as the Class 1A-5 Principal Balance has been
reduced to zero, to the Class 1A-6 Certificateholders (including for
purposes of this Section 6.06(c), the Certificate Insurer as the
subrogee thereof), to be applied to reduce the Class 1A-6 Principal
Balance, to the extent described below, until the Class 1A-6 Principal
Balance thereof is reduced to zero and to make payments in respect of
the amounts described in clauses (c)(v) (to the extent the amount in
clause (c)(v) represents prior Insured Payments
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by the Certificate Insurer or interest accrued thereon pursuant to the
definition of Class A Carry-Forward Amount) and (c)(vii) of the
definition of the Class A Principal Remittance Amount, the lesser of:
(A) the balance of the Amount Available with respect to
Sub-Pool 1 after payments described in clauses (X)(i) through
(xi) above; and
(B) the Class A Principal Remittance Amount with respect to
the Class 1A-6 Certificates;
(xiii) to the Sub-Pool 1 Trustee Expense Account, an amount equal
to the lesser of the balance of the Amount Available with respect to
Sub-Pool 1 after payments described in clauses (X)(i) through (xii)
above and any accrued and unpaid Annual Trustee Expense Amount with
respect to Sub-Pool 1;
(xiv) to the Class 1A-1 Certificateholders to be applied to
reduce the Class 1A-1 Principal Balance until the Class 1A-1 Principal
Balance has been reduced to zero, an amount equal to the lesser of:
(A) the balance of the Amount Available with respect to
Sub-Pool 1 after payments described in clauses (X)(i) through
(xiii) above; and
(B) the Additional Principal with respect to Sub-Pool 1;
(xv) to the Class 1A-2 Certificateholders to be applied to reduce
the Class 1A-2 Principal Balance until the Class 1A-2 Principal
Balance has been reduced to zero, an amount equal to the lesser of:
(A) the balance of the Amount Available with respect to
Sub-Pool 1 after payments described in clauses (X)(i) through
(xiv) above; and
(B) the Additional Principal with respect to Sub-Pool 1;
(xvi) to the Class 1A-3 Certificateholders to be applied to
reduce the Class 1A-3 Principal Balance until the Class 1A-3 Principal
Balance has been reduced to zero, an amount equal to the lesser of:
(A) the balance of the Amount Available with respect to
Sub-Pool 1 after payments described in clauses (X)(i) through
(xv) above; and
(B) the Additional Principal with respect to Sub-Pool 1;
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(xvii) to the Class 1A-4 Certificateholders to be applied to
reduce the Class 1A-4 Principal Balance until the Class 1A-4 Principal
Balance has been reduced to zero, an amount equal to the lesser of:
(A) the balance of the Amount Available with respect to
Sub-Pool 1 after payments described in clauses (X)(i) through
(xvi) above; and
(B) the Additional Principal with respect to Sub-Pool 1;
(xviii) to the Class 1A-5 Certificateholders to be applied to
reduce the Class 1A-5 Principal Balance until the Class 1A-5 Principal
Balance has been reduced to zero, an amount equal to the lesser of:
(A) the balance of the Amount Available with respect to
Sub-Pool 1 after payments described in clauses (X)(i) through
(xvii) above; and
(B) the Additional Principal with respect to Sub-Pool 1;
(xix) to the Class 1A-6 Certificateholders to be applied to
reduce the Class 1A-6 Principal Balance until the Class 1A-6 Principal
Balance has been reduced to zero, an amount equal to the lesser of:
(A) the balance of the Amount Available with respect to
Sub-Pool 1 after payments described in clauses (X)(i) through
(xviii) above; and
(B) the Additional Principal with respect to Sub-Pool 1;
(xx) to the Servicer and/or the Depositor, an amount equal to the
lesser of the balance of the Amount Available with respect to Sub-Pool
1 after payments described in clauses (X)(i) through (xix) above and
any expenses incurred in connection with any third party claims that
remain unreimbursed;
(xxi) to the Servicer, an amount equal to the lesser of the
balance of the Amount Available with respect to Sub-Pool 1 after
payments described in clauses (X)(i) through (xx) above and the
aggregate of any Nonrecoverable Servicing Advances and Nonrecoverable
Monthly Advances with respect to Sub-Pool 1 previously made by the
Servicer and not previously reimbursed; and
(xxii) to the Class R Cer tificateholders, the balance of the
Amount Available with respect to Sub-Pool 1, if any, after payments
described in clauses (X)(i) through (xxi) above.
If the Remittance Date is on or after the Cross-Over Date, the Trustee
shall distribute the indicated amounts in the following order of priority:
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(Y) (i) to the Class 1A-1 Certificateholders (including for
purposes of this Section 6.06(c), the Certificate Insurer as the
subrogee thereof), the lesser of:
(A) the Amount Available with respect to Sub-Pool 1; and
(B) the Class 1A Interest Remittance Amount with respect to
the Class 1A-1 Certificates;
(ii) to the Class 1A-2 Certificateholders (including for purposes
of this Section 6.06(c), the Certificate Insurer as the subrogee
thereof), the lesser of:
(A) the balance of the Amount Available with respect to
Sub-Pool 1 after payments described in clause (X)(i) above; and
(B) the Class 1A Interest Remittance Amount with respect to
the Class 1A-2 Certificates;
(iii) to the Class 1A-3 Certificateholders (including for
purposes of this Section 6.06(c), the Certificate Insurer as the
subrogee thereof), the lesser of:
(A) the balance of the Amount Available with respect to
Sub-Pool 1 after payments described in clauses (X)(i) and (ii)
above; and
(B) the Class 1A Interest Remittance Amount with respect to
the Class 1A-3 Certificates;
(iv) to the Class 1A-4 Certificateholders (including for purposes
of this Section 6.06(c), the Certificate Insurer as the subrogee
thereof), the lesser of:
(A) the balance of the Amount Available with respect to
Sub-Pool 1 after payments described in clauses (X)(i) through
(iii) above; and
(B) the Class 1A Interest Remittance Amount with respect to
the Class 1A-4 Certificates;
(v) to the Class 1A-5 Certificateholders (including for purposes
of this Section 6.06(c), the Certificate Insurer as the subrogee
thereof), the lesser of:
(A) the balance of the Amount Available with respect to
Sub-Pool 1 after payments described in clauses (X)(i) through
(iii) above; and
(B) the Class 1A Interest Remittance Amount with respect to
the Class 1A-5 Certificates;
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(vi) to the Class 1A-6 Certificateholders (including for purposes
of this Section 6.06(c), the Certificate Insurer as the subrogee
thereof), the lesser of:
(A) the balance of the Amount Available with respect to
Sub-Pool 1 after payments described in clauses (X)(i) through (v)
above; and
(B) the Class 1A Interest Remittance Amount with respect to
the Class 1A-6 Certificates;
(vii) to the Class 1A-1 Certificateholders (including for
purposes of this Section 6.06(c), the Certificate Insurer as the
subrogee thereof), to be applied to reduce the Class 1A-1 Principal
Balance until the Class 1A-1 Principal Balance has been reduced to
zero and to make payments in respect of the amounts described in
clauses (c)(v) (to the extent the amounts described in clause (c)(v)
represent prior Insured Payments by the Certificate Insurer or
interest accrued thereon pursuant to the definition of Class A
Carry-Forward Amount) and (c)(vii) of the definition of Class A
Principal Remittance Amount, the lesser of:
(A) the balance of the Net Excess Amount Available with
respect to Sub-Pool 1 after payments described in clauses (Y)(i)
through (vi) above; and
(B) the Class A Principal Remittance Amount with respect to
the Class 1A-1 Certificates;
(viii) to the Class 1A-2 Certificateholders (including for
purposes of this Section 6.06(c), the Certificate Insurer as the
subrogee thereof), to be applied to reduce the Class 1A-2 Principal
Balance until the Class 1A-2 Principal Balance has been reduced to
zero and to make payments in respect of the amounts described in
clauses (c)(v) (to the extent the amounts described in clause (c)(v)
represent prior Insured Payments by the Certificate Insurer or
interest accrued thereon pursuant to the definition of Class A
Carry-Forward Amount) and (c)(vii) of the definition of Class A
Principal Remittance Amount, the lesser of:
(A) the balance of the Net Excess Amount Available with
respect to Sub-Pool 1 after payments described in clauses (Y)(i)
through (vii) above;
and
(B) the Class A Principal Remittance Amount with respect to
the Class 1A-2 Certificates;
(ix) to the Class 1A-3 Certificateholders (including for purposes
of this Section 6.06(c), the Certificate Insurer as the subrogee
thereof), to be applied to reduce the Class 1A-3 Principal Balance
until the Class 1A-3 Principal Balance has been reduced to zero and to
make payments in respect of the amounts described in clauses (c)(v)
(to the extent
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the amounts described in clause (c)(v) represent prior Insured
Payments by the Certificate Insurer or interest accrued thereon
pursuant to the definition of Class A Carry-Forward Amount) and
(c)(vii) of the definition of Class A Principal Remittance Amount, the
lesser of:
(A) the balance of the Net Excess Amount Available with
respect to Sub-Pool 1 after payments described in clauses (Y)(i)
through (viii) above;
and
(B) the Class A Principal Remittance Amount with respect to
the Class 1A-3 Certificates;
(x) to the Class 1A-4 Certificateholders (including for purposes
of this Section 6.06(c), the Certificate Insurer as the subrogee
thereof), to be applied to reduce the Class 1A-4 Principal Balance
until the Class 1A-4 Principal Balance has been reduced to zero and to
make payments in respect of the amounts described in clauses (c)(v)
(to the extent the amounts described in clause (c)(v) represent prior
Insured Payments by the Certificate Insurer or interest accrued
thereon pursuant to the definition of Class A Carry-Forward Amount)
and (c)(vii) of the definition of Class A Principal Remittance Amount,
the lesser of:
(A) the balance of the Net Excess Amount Available with
respect to Sub-Pool 1 after payments described in clauses (Y)(i)
through (ix) above;
and
(B) the Class A Principal Remittance Amount with respect to
the Class 1A-4 Certificates;
(xi) to the Class 1A-5 Certificateholders (including for purposes
of this Section 6.06(c), the Certificate Insurer as the subrogee
thereof), to be applied to reduce the Class 1A-5 Principal Balance
until the Class 1A-5 Principal Balance has been reduced to zero and to
make payments in respect of the amounts described in clauses (c)(v)
(to the extent the amounts described in clause (c)(v) represent prior
Insured Payments by the Certificate Insurer or interest accrued
thereon pursuant to the definition of Class A Carry-Forward Amount)
and (c)(vii) of the definition of Class A Principal Remittance Amount,
the lesser of:
(A) the balance of the Net Excess Amount Available with
respect to Sub-Pool 1 after payments described in clauses (Y)(i)
through (x) above; and
(B) the Class A Principal Remittance Amount with respect to
the Class 1A-5 Certificates;
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(xii) to the Class 1A-6 Certificateholders (including for
purposes of this Section 6.06(c), the Certificate Insurer as the
subrogee thereof), to be applied to reduce the Class 1A-6 Principal
Balance until the Class 1A-6 Principal Balance has been reduced to
zero and to make payments in respect of the amounts described in
clauses (c)(v) (to the extent the amounts described in clause (c)(v)
represent prior Insured Payments by the Certificate Insurer or
interest accrued thereon pursuant to the definition of Class A
Carry-Forward Amount) and (c)(vii) of the definition of Class A
Principal Remittance Amount, the lesser of:
(A) the balance of the Net Excess Amount Available with
respect to Sub-Pool 1 after payments described in clauses (Y)(i)
through (xi) above;
and
(B) the Class A Principal Remittance Amount with respect to
the Class 1A-6 Certificates;
(xiii) to the Sub-Pool 1 Trustee Expense Account, an amount equal
to the lesser of the balance of the Amount Available with respect to
Sub-Pool 1 after payments described in clauses (Y)(i) through (xii)
above and any accrued and unpaid Annual Trustee Expense Amount with
respect to Sub-Pool 1;
(xiv) to the Servicer and/or the Depositor, an amount equal to
the lesser of the balance of the Amount Available with respect to
Sub-Pool 1 after payments described in clauses (Y)(i) through (xiii)
above and any expenses incurred in connection with any third party
claims that remain unreimbursed;
(xv) to the Servicer, an amount equal to the lesser of the
balance of the Amount Available with respect to Sub-Pool 1 after
payments described in clauses (Y)(i) through (xii) above and the
aggregate of any Nonrecoverable Servicing Advances and Nonrecoverable
Monthly Advances with respect to Sub-Pool 1 previously made by the
Servicer and not previously reimbursed; and
(xiv) to the Class R Certificateholders, the balance of the
Amount Available with respect to Sub-Pool 1, if any, after payments
described in clauses (Y)(i) through (xiv) above.
(B) With respect to the Class 2A Certificates and Sub-Pool 2:
If the Remittance Date is prior to the Cross-Over Date, the
Trustee shall distribute the indicated amounts in the following order
of priority:
(X) (i) to the Class 2A Certificateholders (including for
purposes of this Section 6.06(c), the Certificate Insurer as the
subrogee thereof), the lesser of:
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(A) the Amount Available with respect to Sub-Pool 2; and
(B) the Class 2A Interest Remittance Amount with respect to
the Class 2A Certificates;
(ii) to the Class 2A Certificateholders (including for purposes
of this Section 6.06(c), the Certificate Insurer as the subrogee
thereof), to be applied to reduce the Class 2A Principal Balance, to
the extent described below, until the Class 2A Principal Balance
thereof is reduced to zero and to make payments in respect of the
amounts described in clauses (c)(v) (to the extent the amount in
clause (c)(v) represents prior Insured Payments by the Certificate
Insurer or interest accrued thereon pursuant to the definition of
Class A Carry-Forward Amount) and (c)(vii) of the definition of the
Class A Principal Remittance Amount, the lesser of:
(A) the balance of the Amount Available with respect to
Sub-Pool 2 after payments described in clause (X)(i) above; and
(B) the Class A Principal Remittance Amount with respect to
the Class 2A Certificates;
(iii) to the Sub-Pool 2 Trustee Expense Account, an amount equal
to the lesser of the balance of the Amount Available with respect to
Sub-Pool 2 after payments described in clauses (X)(i) and (ii) above
and any accrued and unpaid Annual Trustee Expense Amount with respect
to Sub-Pool 2;
(iv) to the Class 2A Certificateholders to be applied to reduce
the Class 2A Principal Balance until the Class 2A Principal Balance
has been reduced to zero, an amount equal to the lesser of:
(A) the balance of the Amount Available with respect to
Sub-Pool 2 after payments described in clauses (X)(i) through
(iii) above; and
(B) the Additional Principal with respect to Sub-Pool 2;
(v) to the Servicer and/or the Depositor, an amount equal to the
lesser of the balance of the Amount Available with respect to Sub-Pool
2 after payments described in clauses (X)(i) through (iv) above and
any expenses incurred in connection with any third party claims that
remain unreimbursed;
(vi) to the Servicer, an amount equal to the lesser of the
balance of the Amount Available with respect to Sub-Pool 2 after
payments described in clauses (X)(i) through (v) above and the
aggregate of any Nonrecoverable Servicing Advances and Nonrecoverable
Monthly Advances with respect to Sub-Pool 2 previously made by the
Servicer and not previously reimbursed; and
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(vii) to the Class R Certificateholders, the balance of the
Amount Available with respect to Sub-Pool 2, if any, after payments
described in clauses (X)(i) through (vi) above.
If the Remittance Date is on or after the Cross-Over Date, the Trustee
shall distribute the indicated amounts in the following order of priority:
(Y) (i) to the Class 2A Certificateholders (including for
purposes of this Section 6.06(c), the Certificate Insurer as the
subrogee thereof), the lesser of:
(A) the balance of the Amount Available with respect to
Sub-Pool 2;
and
(B) the Class 2A Interest Remittance Amount with respect to
the Class 2A Certificates;
(ii) to the Class 2A Certificateholders (including for purposes
of this Section 6.06(c), the Certificate Insurer as the subrogee
thereof), to be applied to reduce the Class 2A Principal Balance until
the Class 2A Principal Balance has been reduced to zero and to make
payments in respect of the amounts described in clauses (c)(v) (to the
extent the amounts described in clause (c)(v) represent prior Insured
Payments by the Certificate Insurer or interest accrued thereon
pursuant to the definition of Class A Carry-Forward Amount) and
(c)(vii) of the definition of Class A Principal Remittance Amount
below, the lesser of:
(A) the balance of the Net Excess Amount Available with
respect to Sub-Pool 2 after payments described in clause (Y)(i)
above; and
(B) the Class A Principal Remittance Amount with respect to
the Class 2A Certificates;
(iii) to the Sub-Pool 2 Trustee Expense Account, an amount equal
to the lesser of the balance of the Amount Available with respect to
Sub-Pool 2 after payments described in clauses (Y)(i) and (ii) above
and any accrued and unpaid Annual Trustee Expense Amount with respect
to Sub-Pool 2;
(iv) to the Servicer and/or the Depositor, an amount equal to the
lesser of the balance of the Amount Available with respect to Sub-Pool
2 after payments described in clauses (Y)(i) through (iii) above and
any expenses incurred in connection with any third party claims that
remain unreimbursed;
(v) to the Servicer, an amount equal to the lesser of the balance
of the Amount Available with respect to Sub-Pool 2 after payments
described in clauses (Y)(i) through (iv) above and the aggregate of
any Nonrecoverable Servicing Advances and
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Nonrecoverable Monthly Advances with respect to Sub-Pool 2 previously
made by the Servicer and not previously reimbursed; and
(vi) to the Class R Certificateholders, the balance of the Amount
Available with respect to Sub-Pool 2, if any, after payments described
in clauses (Y)(i) through (v) above.
As contemplated by Section 6.06(b) above, amounts distributed to the
related Class A Certificateholders pursuant to Sections 6.06(c)(A)(X)(i) through
(xii) and 6.06(c)(A)(Y)(i) through (xii) with respect to Sub-Pool 1, and
Sections 6.06(c)(B)(X)(i) and (ii) and 6.06(c)(B)(Y)(i) and (ii) with respect to
Sub-Pool 2 above shall be applied first to distributions to the actual
Certificateholders, to the extent of, as applicable, the related Class A
Remittance Amount with respect to the related Classes of Class A Certificates
(exclusive of any Class A Carry-Forward Amount to the extent representing
amounts previously paid to the related Classes of Class A Certificateholders, as
Insured Payments or representing interest accrued in respect of Insured
Payments), and then to reimbursement payments to the Certificate Insurer as
subrogee to such Certificateholders.
Upon the earlier to occur of (i) the November 25, 1996 Remittance Date and
(ii) the termination of this Agreement, the Trustee shall distribute any amount
remaining in the related Pre-Funding Account to the related Class 1A or Class 2A
Certificateholders, in proportion to the related Class 1A Principal Balance and
the Class 2A Principal Balance, respectively, to reduce the related Class 1A
Principal Balance and the Class 2A Principal Balance until the related Class 1A
Principal Balance and the Class 2A Principal Balance are zero.
(d) Except as otherwise provided in the next succeeding sentence and
Sections 6.06(e) and 6.07, all distributions made to the Class 1A
Certificateholders, Class 2A Certificateholders or Class R Certificateholders as
a Class on each Remittance Date will be made on a pro rata basis among the
Certificateholders of record of the respective Class on the immediately
preceding Record Date, except that the initial distribution on all Classes of
Certificates other than the Class 1A-1 Certificates and the Class 2A
Certificates will be made to Certificateholders of record as of the Closing
Date, based on the Percentage Interest represented by their respective
Certificates, and shall be made by wire transfer of immediately available funds
to the account of such Certificateholder at a bank or other entity having
appropriate facilities therefor, if such Certificateholder shall own of record
(i) any Class R Certificate, or (ii) any Class A Certificate with an initial
related Class A Principal Balance in excess of $5,000,000 appearing in the
Certificate Register and shall have provided timely and complete wiring
instructions, and otherwise by check mailed to the address of such
Certificateholder appearing in the Certificate Register. The final distribution
on each Certificate will be made in the manner, but only upon presentment and
surrender of such Certificate at the location specified in the notice to
Certificateholders of such final distribution.
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(e) Each distribution with respect to a Book-Entry Certificate shall be
paid to the Depository, which shall credit the amount of such distribution to
the accounts of its Depository Participants in accordance with its normal
procedures. Each Depository Participant shall be responsible for disbursing such
distribution to the Certificate Owners that it represents and to each indirect
participating brokerage firm (a "brokerage firm" or "indirect participating
firm") for which it acts as agent. Each brokerage firm shall be responsible for
disbursing funds to the Certificate Owners that it represents. All such credits
and disbursements with respect to a Book-Entry Certificate are to be made by the
Depository and the Depository Participants in accordance with the provisions of
the Class A Certificates. None of the Trustee, the Certificate Registrar, the
Depositor nor the Servicer shall have any responsibility therefor except as
otherwise provided by applicable law.
To the extent applicable and not contrary to the rules of the Depository,
the Trustee shall comply with the provisions of the form of the respective Class
A Certificate as set forth in Exhibits B-1 and B-2.
Section 6.07 Insufficiency of Amount Available or Net Excess Amount
Available.
If as of any Remittance Date the Amount Available, if such Remittance Date
is prior to the Cross-Over Date, or the related Net Excess Amount Available plus
that additional portion of the Amount Available constituting Excess Spread
available to pay the related Class A Interest Remittance Amount with respect to
the related Class of Class A Certificates pursuant to Sections 6.06(c)(A)(Y)(i)
through (vi) with respect to Sub-Pool 1 and Section 6.06(c)(B)(Y)(i) with
respect to Sub-Pool 2 above, if such Remittance Date is on or after the
Cross-Over Date, is insufficient to pay the related Class A Certificateholders
the related Class A Interest Remittance Amount, then the related Amount
Available or related Net Excess Amount Available, plus that additional portion
of the related Amount Available constituting Excess Spread with respect to the
related Sub-Pool available to pay the related Class A Interest Remittance Amount
with respect to the related Class of Class A Certificates pursuant to Sections
6.06(c)(A)(Y)(i) through (vi) with respect to Sub-Pool 1, and Section
6.06(c)(B)(Y)(i) with respect to Sub-Pool 2 above, as the case may be, shall be
distributed by the Trustee to the related Class A Certificateholders (including
the Certificate Insurer as subrogee thereof) as follows, with respect to each
Sub-Pool: first, to the extent of the related Class A Remittance Amount with
respect to the related Class of Class A Certificates exclusive of that portion
of the related Class A Carry-Forward Amount representing amounts previously
covered by Insured Payments with respect to the related Sub-Pool or interest
accrued in respect of such Insured Payments, in proportion to the amount of
interest that would have been distributed to such related Class A
Certificateholder absent such shortfall; and second, that portion of the related
Class A Carry-Forward Amount representing amounts previously covered by Insured
Payments with respect to the related Sub-Pool or interest accrued in respect of
such Insured Payments with respect to the related Sub-Pool, in proportion to the
amount of interest that would have been distributed to such related Class A
Certificateholder absent such shortfall.
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Section 6.08 Statements.
On or before 10:00 a.m. New York City time on the Determination Date, the
Servicer shall deliver to the Certificate Insurer and the Trustee, by telecopy,
the receipt and legibility of which shall be confirmed telephonically, and with
hard copy thereof (and in the case of the remittance report referenced below,
such report in computer readable magnetic tape, electronic data file or
equivalent form) to be delivered on the following Business Day, a certificate
signed by a Servicing Officer and the Servicer's Monthly Remittance Report
substantially in the form attached hereto as Exhibit Q (together, the
"Servicer's Certificate") stating the date (day, month and year), the series
number of the Certificates, the date of this Agreement, and the following
information with respect to each Sub-Pool:
(i) The Available Remittance Amount for the related Remittance Date
and any portion thereof that has been deposited in the related Certificate
Account but, pursuant to an order of a United States bankruptcy court of
competent jurisdiction imposing a stay pursuant to Section 362 of the
United States Bankruptcy Code, may not be withdrawn therefrom, the Amount
Available with respect to each Sub-Pool and the Net Excess Amount Available
with respect to each Sub-Pool;
(ii) The Class 1A Principal Balance with respect to each Class of
Class 1A Certificates, the Class 2A Principal Balance and the related
Sub-Pool Principal Balance as reported in the prior Servicer's Certificate
pursuant to subclause (xii) below, or, in the case of the first
Determination Date, the Original Class 1A Principal Balance and the
Original Class 2A Principal Balance;
(iii) The number and Principal Balances of all Mortgage Loans which
were the subject of Principal Prepayments during the related Due Period;
(iv) The amount of all Curtailments which were received during the Due
Period;
(v) The combined aggregate amount of (i) all Excess Payments and (ii)
the principal portion of all Monthly Payments received during the related
Due Period;
(vi) The amount of interest received on the Mortgage Loans;
(vii) The amount of the Monthly Advances to be made on the
Determination Date, the Compensating Interest payment to be made on the
Determination Date, the related Interest Coverage Addition to be made on
the Remittance Date and the amount to be deposited into the related
Certificate Account from funds on deposit in the related Reserve Account
pursuant to Section 6.14(c) on the Remittance Date;
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(viii) The delinquency and foreclosure information calculated as of
the end of the month preceding the Determination Date set forth in the form
attached hereto as Exhibit N;
(ix) The Class A Principal Remittance Amount, the Class 1A Interest
Remittance Amount, the Class 2A Interest Remittance Amount and for the
related Remittance Date with the components thereof stated separately and
the portion of the Class A Principal Remittance Amount to be distributed to
the Class 1A Certificateholders and the Class 2A Certificateholders,
respectively;
(x) With respect to each Sub-Pool, the amount of the Insured Payment,
if any, to be made on the related Remittance Date, separately identified
with respect to the Class 1A Certificates and the Class 2A Certificates,
the amount, if any, of previously unreimbursed Insured Payments, and the
aggregate portion of the amounts described in clause (ix) above that
represents unpaid interest accrued in respect of Insured Payments in
accordance with the definition of Class A Carry-Forward Amount;
(xi) The amount to be distributed to the Class R Certificateholders
for the Remittance Date;
(xii) The Class 1A Principal Balance with respect to each Class of
Class 1A Certificates, the Class 2A Principal Balance and the related
Sub-Pool Principal Balance after giving effect to the distribution to be
made on the related Remittance Date;
(xiii) With respect to each Sub-Pool, the weighted average maturity
and the weighted average Mortgage Rate;
(xiv) The Servicing Fees and the amounts to be paid to the Certificate
Insurer as the Monthly Premium pursuant to Section 6.02(i) above and to the
related Trustee Expense Account pursuant to Section 6.03;
(xv) The amount of all payments or reimbursements to the Servicer
pursuant to Section 5.04 (ii), (iv), (vi) and (ix) above and the amounts,
if any, withdrawn pursuant to 5.04 (v) and (vii) above;
(xvi) The related Sub-Pool Factor determined using the related
Sub-Pool Principal Balance in subclause (xii) above, computed to seven (7)
decimal places;
(xvii) With respect to each Sub-Pool, the Excess Spread to be
deposited in the related Certificate Account pursuant to Section 6.01(iii)
above;
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(xviii) With respect to each Sub-Pool, the allocation of Excess Spread
to be distributed pursuant to Section 6.06(c) above to Class 1A and Class
2A Certificateholders, to the Servicer and/or Depositor as Reimbursable
Amounts, to the Servicer as Nonrecoverable Advances and to the Class R
Certificateholders;
(xix) With respect to each Sub-Pool, the sum of all Realized Losses
since the Closing Date, the Subordinated Amount as of such Remittance Date,
and the Unrecovered Class A Portion if any;
(xx) The amounts which are reimbursable to the Servicer or the
Depositor, as appropriate, pursuant to Sections 6.02, 6.03(c), 6.04 and
6.06(c) above;
(xxi) With respect to each Sub-Pool, the number of Mortgage Loans at
the beginning and at the end of the related Due Period;
(xxii) If the related Remittance Date is the final Remittance Date in
connection with the purchase by the Certificate Insurer or the Servicer of
all the Mortgage Loans and REO Properties of the related Sub-Pool pursuant
to Section 11.01, the Termination Price;
(xxiii) With respect to each Sub-Pool, for the November 25, 1996
Remittance Date, the balance of the related Pre-Funded Amount that has not
been used to purchase Subsequent Mortgage Loans and that is being
distributed to the related Classes of Class A Certificateholders as a
mandatory prepayment of principal, if any, on such Remittance Date pursuant
to the last paragraph of Section 6.06(c) above;
(xxiv) With respect to each Sub-Pool, the Overcollateralization Amount
after giving effect to the distribution of the related Class A Principal
Remittance Amount on such Remittance Date, the Required
Overcollateralization Amount for such Remittance Date and the amount of the
related Additional Principal to be distributed on such Remittance Date;
(xxv) With respect to the Class 2A Certificateholders, the amount of
Supplemental Interest, if any, for such Remittance Date; and
(xxvi) Such other information as the Certificate Insurer and the
Certificateholders may reasonably request and which is produced or
available in the ordinary course of the Servicer's business.
The Trustee shall forward copies of such Servicer's Certificate to the
Certificateholders and Moody's on the Remittance Date. All reports prepared by
the Trustee of such withdrawals and deposits will be based in whole or in part
upon the information
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provided to the Trustee by the Servicer, and the Trustee may fully rely upon and
shall have no liability with respect to such information provided by the
Servicer.
To the extent that there are inconsistencies between the telecopy of the
Servicer's Certificate and the hard copy thereof, the Trustee shall be entitled
to rely upon the telecopy.
In the case of information furnished pursuant to subclauses (ii), (iii),
(iv), (v), (ix), (x) and (xii) above, the amounts shall be expressed in a
separate section of the report as a dollar amount for each Class per $1,000
original dollar amount as of the Cut-off Date, in the case of such information
relevant to Class A Certificateholders.
(a) Within a reasonable period of time after the end of each calendar year,
the Servicer shall furnish to the Trustee for distribution to each Person who at
any time during the calendar year was a Class A Certificateholder, if requested
in writing by such Person, such information as is reasonably necessary to
provide to such Person a statement containing the information set forth in
subclauses (vi), (ix) and (xiv) above, aggregated for such calendar year or
applicable portion thereof during which such Person was a Certificateholder.
Such obligation of the Servicer shall be deemed to have been satisfied to the
extent that substantially comparable information shall be provided by the
Servicer to the Trustee or the Certificateholders pursuant to any requirements
of the Code as from time to time are in force.
(b) On each Remittance Date, the Trustee shall forward to the Class R
Certificateholders a copy of the reports forwarded to the Class A
Certificateholders in respect of such Remittance Date and a statement setting
forth the amounts actually distributed to the Class R Certificateholders on such
Remittance Date together with such other information as the Servicer deems
necessary or appropriate.
(c) Within a reasonable period of time after the end of each calendar year,
the Servicer shall furnish to the Trustee for distribution to each Person who at
any time during the calendar year was a Class R Certificateholder, if requested
in writing by such Person, such information as is reasonably necessary to
provide to such Person a statement containing the information provided pursuant
to the previous paragraph aggregated for such calendar year or applicable
portion thereof during which such Person was a Class R Certificateholder. Such
obligation of the Servicer shall be deemed to have been satisfied to the extent
that substantially comparable information shall be provided by the Servicer to
the Trustee or the Certificateholders pursuant to any requirements of the Code
as from time to time in force.
(d) Upon reasonable advance notice in writing, the Servicer will provide to
each Class A Certificateholder which is a savings and loan association, bank or
insurance company access to information and documentation regarding the Mortgage
Loans sufficient to permit such Class A Certificateholders to comply with
applicable regulations of the FDIC or other regulatory authorities with respect
to investment in the Class A Certificates.
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(e) The Servicer shall furnish to each Certificateholder, during the term
of this Agreement, such periodic, special, or other reports or information,
whether or not provided for herein, as shall be necessary, reasonable, or
appropriate with respect to the Certificateholder, or otherwise with respect to
the purposes of this Agreement, all such reports or information to be provided
by and in accordance with such applicable instructions and directions as the
Certificateholder may reasonably require; provided, that the Servicer shall be
entitled to be reimbursed by such Certificateholder for the Servicer's actual
expenses incurred in providing such reports, if such reports are not generally
produced in the ordinary course of the Servicer's business.
(f) Reports and computer tapes furnished by the Servicer pursuant to this
Agreement shall be deemed confidential and of proprietary nature, and shall not
be copied or distributed except in connection with the purposes and requirements
of this Agreement. No Person entitled to receive copies of such reports or tapes
shall use the information therein for the purpose of soliciting the customers of
the Depositor or for any other purpose except as set forth in this Agreement.
Section 6.09 Advances by the Servicer.
Not later than 4:00 p.m. New York time on the Determination Date, the
Servicer shall remit to the Trustee for deposit in the related Certificate
Account an amount (as indicated in the Servicer's Certificate prepared pursuant
to Section 6.08 above), to be distributed on the related Remittance Date
pursuant to Section 6.06 above, equal to the sum of, with respect to each
Sub-Pool (a) the interest portions of the aggregate amount of Monthly Payments
due but not received during the related Due Period (net of the Servicing Fee,
the Annual Trustee Expense Amount and, after the Cross-Over Date, the Excess
Spread with respect to the related Sub-Pool), plus (b) with respect to each REO
Property with respect to the related Sub-Pool, which was acquired during or
prior to the related Due Period and as to which an REO Disposition did not occur
during the related Due Period, an amount equal to the excess, if any, of
interest on the Principal Balance of such REO Property at the related Mortgage
Rate (net of the Servicing Fee, the Annual Trustee Expense Amount and, after the
Cross-Over Date, the Excess Spread with respect to the related Sub-Pool) for the
most recently ended calendar month over the net income from the REO Property
transferred to the Principal and Interest Account with respect to the related
Sub-Pool during the related Due Period pursuant to Section 5.10 above, plus (c)
with respect to each Remittance Date, the amount necessary on the first, second,
third, and fourth Remittance Dates to pay 30 days' interest with respect to each
non-delinquent Mortgage Loan (net of the Servicing Fee and the Annual Trustee
Expense Amount), plus (d) with respect to each Remittance Date, if pursuant to
Section 5.04(ii) above the Servicer has previously reimbursed itself for a
Monthly Advance made pursuant to Section 6.09(c) above, then an amount equal to
such amount previously reimbursed, such sum being defined herein as the "Monthly
Advance". In lieu of making all or a portion of such Monthly Advance from its
own funds, the Servicer may (i) cause to be made an appropriate entry in its
records relating to the Principal and Interest Account with respect to the
related Sub-Pool that any amount held in the Principal and Interest Account with
respect to the related Sub-Pool, and not required for
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distribution on the immediately succeeding Remittance Date has been used by the
Servicer in discharge of its obligation to make any such Monthly Advance and
(ii) transfer such funds from the Principal and Interest Account with respect to
the related Sub-Pool, to the related Certificate Account. Any funds so applied
and transferred shall be replaced by the Servicer by deposit in the related
Principal and Interest Account no later than the close of business on the
Business Day immediately preceding the Remittance Date on which such funds are
required to be distributed pursuant to this Agreement. The Servicer may
reimburse itself pursuant to Section 5.04 above for Monthly Advances made from
its own funds. Notwithstanding the foregoing, the Monthly Advance required on
the first Remittance Date by Section 6.09(c) above shall be mandatory, and each
successive Monthly Advance pursuant to Section 6.09(c) and Section 6.09(d) above
shall be made if and to the extent the Servicer has reimbursed itself for
amounts previously advanced pursuant to such Sections 6.09(c) and 6.09(d), as
the case may be.
Section 6.10 Compensating Interest.
Not later than the close of business on each Determination Date, with
respect to each Mortgage Loan for which a Principal Prepayment or Curtailment
was received during the related Due Period, the Servicer shall remit to the
Trustee for deposit in the related Certificate Account from amounts otherwise
payable to it as Servicing Compensation (as indicated in the Servicer's
Certificate prepared pursuant to Section 6.08 above), after any reduction in the
Servicing Fee required pursuant to Section 6.16, an amount equal to the
difference between (a) 30 days' interest on the Principal Balance of each such
Mortgage Loan immediately following the Remittance Date in the related Due
Period at the Mortgage Rate, net of the Servicing Fee and the Annual Trustee
Expense Amount, and after the related Cross-Over Date, the Excess Spread with
respect to the related Sub-Pool, and (b) the amount of interest actually
received on each such Mortgage Loan for such Due Period, net of the Servicing
Fee, the Annual Trustee Expense Amount, and after the related Cross-Over Date,
the Excess Spread with respect to the related Sub-Pool.
Section 6.11 [Reserved].
Section 6.12 Pre-Funding Account.
(a) With respect to each Sub-Pool and no later than the Closing Date, the
Trustee shall establish and maintain with itself one or more segregated trust
accounts that are Eligible Accounts, which shall be titled, with respect to
Sub-Pool 1, "Sub-Pool 1 Pre-Funding Account, LaSalle National Bank, as trustee
for the registered holders of AFC Mortgage Loan Asset Backed Certificates,
Series 1996-3 and with respect to Sub-Pool 2, "Sub-Pool 2 Pre-Funding Account,
LaSalle National Bank, as trustee for the registered holders of AFC Mortgage
Loan Asset Backed Certificates, Series 1996-3." The Trustee shall, promptly upon
receipt, deposit in the related Pre-Funding Account and retain therein the
Original Pre-Funded Amount with respect to the related Sub-Pool remitted on the
Closing Date to the Trustee by the Depositor. Prior to November 25, 1996 or any
earlier Subsequent Transfer Date on which the entire balance of the Original
Pre-Funded Amount with respect to the related Sub-Pool is applied
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to purchase Subsequent Mortgage Loans, the related Pre-Funding Account will be
an asset of the Trust Fund REMIC.
(b) Amounts on deposit in the related Pre-Funding Account shall be
withdrawn by the Trustee as follows:
(i) On any Subsequent Transfer Date, the Trustee, upon written
direction from the Depositor, shall withdraw from the related Pre-Funding
Account an amount equal to 100% of the Principal Balances of the Subsequent
Mortgage Loans with respect to the related Sub-Pool transferred and
assigned to the Trustee on such Subsequent Transfer Date and pay such
amount to or upon the order of the Depositor upon satisfaction of the
conditions with respect to such transfer and assignment set forth in
Section 2.10(b) above with respect to all Subsequent Mortgage Loans,
Section 2.10(c) with respect to Sub-Pool 1 Subsequent Mortgage Loans and
Section 2.10(d) with respect to Sub-Pool 2 Subsequent Mortgage Loans;
(ii) If the related Pre-Funded Amount has not been reduced to zero
during the Funding Period, on the November 25, 1996 Remittance Date, the
Trustee shall effect the distributions described in the last paragraph of
Section 6.06(c) above;
and also, in no particular order of priority:
(iv) to withdraw any amount not required to be deposited in the
related Pre-Funding Account or deposited therein in error; and
(v) to clear and terminate the related Pre-Funding Account upon the
earliest to occur of (A) the November 25, 1996 Remittance Date, (B) the
termination of this Agreement and (C) the termination of the related
Sub-Pool, with any amounts remaining on deposit therein being paid to the
Class R Certificateholders.
Section 6.13 Interest Coverage Account.
(a) With respect to each Sub-Pool and no later than the Closing Date, the
Trustee shall establish and maintain with itself a separate, segregated trust
account, which shall be an Eligible Account, titled, with respect to Sub-Pool 1,
"Sub-Pool 1 Interest Coverage Account, LaSalle National Bank, as trustee for the
registered holders of AFC Mortgage Loan Asset Backed Certificates, Series
1996-3" and with respect to Sub-Pool 2, "Sub-Pool 2 Interest Coverage Account,
LaSalle National Bank, as trustee for the registered holders of AFC Mortgage
Loan Asset Backed Certificates, Series 1996-3." The Trustee shall, promptly upon
receipt, deposit in the related Interest Coverage Account and retain therein the
related Interest Coverage Amount remitted on the Closing Date to the Trustee by
the Depositor. Funds deposited in the related Interest Coverage Account shall be
held in trust by the Trustee for the Certificateholders for the uses and
purposes set forth herein. For federal income tax purposes,
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the Depositor shall be the owner of the related Interest Coverage Account and
shall report all items of income, deduction, gain or loss arising therefrom. At
no time will any Interest Coverage Account be an asset of the Trust Fund REMIC.
All income and gain realized from investment of funds deposited in each Interest
Coverage Account shall be for the sole and exclusive benefit of the Depositor
and shall be remitted by the Trustee to the Depositor on the first Business Day
following each Remittance Date. The Depositor shall deposit in the related
Interest Coverage Account the amount of any net loss incurred in respect of any
such Permitted Investment immediately upon realization of such loss.
(b) With respect to each Sub-Pool and on the October 25, 1996 Remittance
Date, the Trustee shall withdraw from the related Interest Coverage Account and
deposit in the related Certificate Account an amount, as provided in the
Servicer's Monthly Remittance Report, equal to (i) 30 days' interest on the
related Original Pre-Funded Amount calculated at an annual rate equal to
11.5770% with respect to Sub-Pool 1 and 9.9628% with respect to Sub-Pool 2 minus
(ii) the sum of (1) interest payments received on Subsequent Mortgage Loans with
respect to the related Sub-Pool during the related Due Period and (2) Monthly
Advances in respect of interest portions of delinquent Monthly Payments on
Subsequent Mortgage Loans with respect to the related Sub-Pool conveyed to the
Trustee during the related Due Period.
(c) With respect to each Sub-Pool and on the November 25, 1996 Remittance
Date, the Trustee shall withdraw from the related Interest Coverage Account and
deposit in the related Certificate Account an amount, as provided in the
Servicer's Monthly Remittance Report, equal to (i) 30 days' interest on the
related Original Pre-Funded Amount minus the aggregate Principal Balance of
Subsequent Mortgage Loans conveyed to the Trustee having a Due Date prior to
October 1 at an annual rate equal to 11.5770% with respect to Sub-Pool 1 and
9.9628% with respect to Sub-Pool 2 minus (ii) the sum of (1) interest payments
received on Subsequent Mortgage Loans conveyed to the Trustee during the related
Due Period and (2) Monthly Advances in respect of interest portions of
delinquent Monthly Payments on Subsequent Mortgage Loans with respect to the
related Sub-Pool conveyed to the Trustee during the related Due Period.
(d) With respect to each Sub-Pool and on the date of conveyance of a
Subsequent Mortgage Loan to the Trustee, excess funds on deposit in the related
Interest Coverage Account in an amount equal to the product of (i) the Principal
Balance of such Subsequent Mortgage Loan and (ii) 11.5770% with respect to
Sub-Pool 1 and 9.9628% with respect to Sub-Pool 2 and (iii) a fraction, the
numerator of which is the number of days from the Subsequent Transfer Date to
November 15, 1996 and the denominator of which is 360 days, shall be remitted
immediately to the Depositor.
(e) With respect to each Sub-Pool and upon the earlier of (i) the September
25, 1997 Remittance Date, (ii) the reduction of the related Class 1A Principal
Balance or the Class 2A Principal Balance to zero, (iii) the termination of this
Agreement in accordance with Section 11.01, (iv) the date of the conveyance of
the last Subsequent Mortgage Loan to the Trustee, as set forth in a written
letter of instruction by the Servicer to the Trustee, or (v) termination of
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the related Sub-Pool, any amount remaining on deposit in the related Interest
Coverage Account after distributions pursuant to Sections 6.13(b) and 6.13(c)
above shall be withdrawn by the Trustee and paid to the Depositor.
Section 6.14 Reserve Account.
(a) If required by the Certificate Insurer for credit enhancement, with
respect to each Sub-Pool and no later than the Closing Date, the Trustee shall
establish and maintain with itself a separate, segregated trust account, which
shall be an Eligible Account, titled, with respect to Sub-Pool 1, "Sub-Pool 1
Reserve Account, LaSalle National Bank, as trustee for the registered holders of
AFC Mortgage Loan Asset Backed Certificates, Series 1996-3" and with respect to
Sub-Pool 2, "Sub-Pool 2 Reserve Account, LaSalle National Bank, as trustee for
the registered holders of AFC Mortgage Loan Asset Backed Certificates, Series
1996-3." The Trustee shall, promptly upon receipt, deposit in and retain in the
related Reserve Account, the Initial Reserve Account Deposit remitted on the
Closing Date to the Trustee by the Depositor. Funds deposited in the related
Reserve Account shall be held in trust by the Trustee for the Certificateholders
for the uses and purposes set forth herein.
(b) Each Reserve Account will be an asset of the Trust Fund REMIC and will
be treated as a "qualified reserve fund" within the meaning of Treasury
regulations Section 1.860G-2(g)(2). If on or before the December 26, 1996
Remittance Date, the Certificate Insurer has determined that the entire amount
of funds on deposit in a Reserve Account is not required for credit enhancement,
and the Certificate Insurer shall direct the Trustee in writing, the portion of
the related Initial Reserve Account Deposit not so required shall be released to
the Class R Certificateholders on the December 26, 1996 Remittance Date. If the
Certificate Insurer does not so direct the Trustee on or before the December 26,
1996 Remittance Date, then the balance of each Reserve Account shall be
distributed by the Trustee to the Class R Certificateholders on the December 26,
1996 Remittance Date.
(c) With respect to each Sub-Pool and on and after the November 25, 1996
Remittance Date, amounts, if any, on deposit in the related Reserve Account
shall be withdrawn on each Remittance Date by the Trustee to be applied, at the
written direction of the Servicer:
(i) (A) to deposit in the Sub-Pool 1 Certificate Account, an amount
equal to the excess of the sum of the related Class A Remittance Amount
with respect to each Class of Class 1A Certificates for such Remittance
Date over the Available Remittance Amount with respect to Sub-Pool 1 for
such Remittance Date and (B) to deposit in the Sub-Pool 2 Certificate
Account, an amount equal to the excess of the related Class A Remittance
Amount with respect to the Class 2A Certificates for such Remittance Date
over the Available Remittance Amount with respect to Sub-Pool 2 for such
Remittance Date. In no event will amounts on deposit in the Reserve Account
be used to cover any Rate Shortfall;
and also, in no particular order of priority:
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(ii) to invest amounts on deposit in the related Reserve Account in
Permitted Instruments pursuant to Section 6.05 above; and
(iii) to clear and terminate the related Reserve Account upon the
termination of this Agreement with any amounts on deposit therein being
paid to the Class R Certificateholders.
(d) Upon the earlier to occur of the Cross-Over Date with respect to the
related Sub-Pool or the Remittance Date on which all amounts due have been paid
to the related Classes of Class A Certificateholders, including the Certificate
Insurer as subrogee of the Class A Certificateholders, the Trustee, after making
any withdrawals from the related Reserve Account required pursuant to Section
6.14(c) above, shall clear and terminate the related Reserve Account, liquidate,
upon the written direction of the Class R Certificateholders holding an
aggregate Percentage Interest equal to at least 51%, any investments therein,
and pay any uninvested funds therein or the proceeds of such liquidation to the
Class R Certificateholders.
Section 6.15 Supplemental Interest Account.
(a) With respect to the Class 2A Certificates and no later than the Closing
Date, the Trustee shall establish and maintain with itself a separate,
segregated trust account, which shall be an Eligible Account, titled,
"Supplemental Interest Account, LaSalle National Bank, as trustee for the
registered holders of AFC Mortgage Loan Asset Backed Certificates, Series 1996-
3, Class 2A". For federal income tax purposes, the Depositor shall be the owner
of the Supplemental Interest Account and shall report all items of income,
deduction, gain or loss arising therefrom. At no time will the Supplemental
Interest Account be an asset of the Trust Fund REMIC. All income and gain
realized from investment of funds, if any, deposited in the Supplemental
Interest Account shall be for the sole and exclusive benefit of the Depositor
and shall be remitted by the Trustee to the Depositor on the first Business Day
following each Remittance Date. The Depositor shall deposit in the Supplemental
Interest Account the amount of any net loss incurred in respect of any such
Permitted Investment immediately upon realization of such loss.
(b) The Trustee shall, promptly upon receipt, deposit in and retain in the
Supplemental Interest Account, the Supplemental Interest, if any, remitted on
each Remittance Date to the Trustee pursuant to the Cap Agreement. Funds
deposited in the Supplemental Interest Account shall be held in trust by the
Trustee for the Class 2A Certificateholders for the uses and purposes set forth
herein.
(c) Subject to subsection (d) below, on each Remittance Date, through the
Remittance Date occurring on February 25, 1997, the Trustee shall withdraw from
the Supplemental Interest Account and deposit in the Sub-Pool 2 Certificate
Account an amount, as provided in the Servicer's Monthly Remittance Report,
equal to Supplemental Interest, if any.
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(d) With respect to Sub-Pool 2, upon the earlier of (i) the February 25,
1997 Remittance Date, (ii) the reduction of the related Class 2A Principal
Balance to zero, (iii) the termination of this Agreement in accordance with
Section 11.01, or (iv) termination of Sub-Pool 2 in accordance with Section
11.01, any amount remaining on deposit in the Supplemental Interest Account
after distributions pursuant to Section 6.15(b) above shall be withdrawn by the
Trustee and paid to the Depositor.
(e) Subject to the terms of this Agreement, the Trustee shall enforce the
rights of the Trust Fund under the Cap Agreement, including, without limitation,
enforcement of the Trustee's rights and remedies upon any Cap Agreement Event of
Default or Cap Agreement Termination Event.
Section 6.16 Compensating Rate Shortfall.
On each Determination Date with respect to any Remittance Date, the
Servicing Fee payable to the Servicer shall be reduced to the extent of the Rate
Shortfall, if any, for such Remittance Date and the Available Remittance Amount
for the related Remittance Date shall be increased by the amount of such
reduction in the Servicing Fee.
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ARTICLE VII
GENERAL SERVICING PROCEDURE
Section 7.01 Assumption Agreements.
When a Mortgaged Property has been or is about to be conveyed by the
Mortgagor, the Servicer shall, to the extent it has knowledge of such conveyance
or prospective conveyance, exercise its rights to accelerate the maturity of the
related Mortgage Loan under any "due-on-sale" clause contained in the related
Mortgage or Mortgage Note; provided, however, that the Servicer shall not
exercise any such right if the "due-on-sale" clause, in the reasonable belief of
the Servicer, is not enforceable under applicable law. In such event, the
Servicer shall enter into an assumption and modification agreement with the
person to whom such property has been or is about to be conveyed, pursuant to
which such person becomes liable under the Mortgage Note and, unless prohibited
by applicable law or the Mortgage Documents, the Mortgagor remains liable
thereon. The Servicer is also authorized with the prior approval of the
Certificate Insurer to enter into a substitution of liability agreement with
such person, pursuant to which the original Mortgagor is released from liability
and such person is substituted as Mortgagor and becomes liable under the
Mortgage Note. The Servicer shall notify the Trustee and the Certificate Insurer
that any such substitution or assumption agreement has been completed by
forwarding to the Trustee the original of such substitution or assumption
agreement and a duplicate thereof to the Certificate Insurer, which original
shall be added by the Trustee to the related Trustee's Mortgage File and shall,
for all purposes, be considered a part of such Trustee's Mortgage File to the
same extent as all other documents and instruments constituting a part thereof.
In connection with any assumption or substitution agreement entered into
pursuant to this Section 7.01, the Servicer shall not change the Mortgage Rate
or the Monthly Payment, defer or forgive the payment of principal or interest,
reduce the outstanding principal amount or extend the final maturity date on
such Mortgage Loan. Any fee collected by the Servicer for consenting to any such
conveyance or entering into an assumption or substitution agreement shall be
retained by or paid to the Servicer as additional Servicing Compensation.
Notwithstanding the foregoing paragraph or any other provision of this
Agreement, the Servicer shall not be deemed to be in default, breach or any
other violation of its obligations hereunder by reason of any assumption of a
Mortgage Loan by operation of law or any assumption which the Servicer may be
restricted by law from preventing, for any reason whatsoever.
Section 7.02 Satisfaction of Mortgages and Release of Mortgage Files.
The Servicer shall not grant a satisfaction or release of a Mortgage
without having obtained payment in full of the indebtedness secured by the
Mortgage or otherwise prejudice any right the Certificateholders may have under
the mortgage instruments subject to Section 5.01 above. The Servicer shall
maintain the Fidelity Bond as provided for in Section 5.09 above insuring the
Servicer against any loss it may sustain with respect to any Mortgage Loan not
satisfied in accordance with the procedures set forth herein.
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Upon the payment in full of any Mortgage Loan, or the receipt by the
Servicer of a notification that payment in full will be escrowed in a manner
customary for such purposes, the Servicer will immediately notify the Trustee
(if it holds the related Trustee's Mortgage File) or the Custodian, as the case
may be, by an Officers' Certificate in the form of Exhibit I attached hereto
(which certification shall include a statement to the effect that all amounts
received or to be received in connection with such payment which are required to
be deposited in the Principal and Interest Account pursuant to Section 5.03
above have been or will be so deposited) of a Servicing Officer and shall
request delivery to it of the Trustee's Mortgage File. Upon receipt of such
certification and request, the Trustee or such Custodian, as the case may be,
shall promptly release the related Trustee's Mortgage File to the Servicer.
Expenses incurred in connection with any instrument of satisfaction or deed of
reconveyance shall be payable only from and to the extent of Servicing
Compensation with respect to the related Sub-Pool and shall not be chargeable to
the related Principal and Interest Account or the related Certificate Account.
With respect to any Mortgage Note released by the Trustee to the Servicer
or to any Subservicer in accordance with the terms of this Agreement, other than
a release or satisfaction pursuant to the second paragraph of this Section 7.02,
prior to such release, the Trustee shall (a) complete all endorsements in blank
so that the endorsement reads "Pay to the order of LaSalle National Bank, as
Trustee under the Pooling and Servicing Agreement, dated as of September 1,
1996, Series 1996-3" and (b) complete a restrictive endorsement that reads
"LaSalle National Bank is the holder of the mortgage note for the benefit of the
Certificateholders under the Pooling and Servicing Agreement, dated as of
September 1, 1996, Series 1996-3" with respect to those Mortgage Notes currently
endorsed "Pay to the order of holder", if any.
From time to time and as appropriate for the servicing or foreclosure of
any Mortgage Loan, including, for this purpose, collection under any primary
mortgage guaranty insurance policy, the Trustee shall, upon request of the
Servicer and delivery to the Trustee of a certification in the form of Exhibit I
attached hereto signed by a Servicing Officer, release the related Trustee's
Mortgage File or any document therein to the Servicer, and the Trustee shall
execute such documents as shall be necessary to the prosecution of any such
proceedings. Such servicing receipt shall obligate the Servicer to return the
Trustee's Mortgage File or any document released therefrom to the Trustee when
the need therefor by the Servicer no longer exists, unless the Mortgage Loan has
been liquidated and the Net Liquidation Proceeds relating to the Mortgage Loan
have been deposited in the Principal and Interest Account with respect to each
Sub-Pool, and remitted to the Trustee for deposit in the related Certificate
Account or the Trustee's Mortgage File or such document has been delivered to an
attorney, or to a public trustee or other public official as required by law,
for purposes of initiating or pursuing legal action or other proceedings for the
foreclosure of the Mortgaged Property either judicially or non-judicially, and
the Servicer has delivered to the Trustee a certificate of a Servicing Officer
certifying as to the name and address of the Person to which such Trustee's
Mortgage File or such document was delivered and the purpose or purposes of such
delivery. Upon receipt of a
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certificate of a Servicing Officer stating that such Mortgage Loan was
liquidated, the servicing receipt shall be released by the Trustee to the
Servicer.
The Trustee shall execute and deliver to the Servicer any court pleadings,
requests for trustee's sale in respect of a Mortgaged Property or to any legal
action brought to obtain judgment against any Mortgagor on the Mortgage Note or
Mortgage or to obtain a deficiency judgment, or to enforce any other remedies or
rights provided by the Mortgage Note or Mortgage or otherwise available at law
or in equity. Together with such documents or pleadings, the Servicer shall
deliver to the Trustee a certificate of a Servicing Officer requesting that such
pleadings or documents be executed by the Trustee and certifying as to the
reason such documents or pleadings are required and that the execution and
delivery thereof by the Trustee will not invalidate or otherwise affect the lien
of the Mortgage, except for the termination of such a lien upon completion of
the foreclosure or trustee's sale. The Trustee shall, upon receipt of a written
request from a Servicing Officer, execute any document provided to the Trustee
by the Servicer or take any other action requested in such request that is, in
the opinion of the Servicer as evidenced by such request, required by any state
or other jurisdiction to discharge the lien of a Mortgage upon the satisfaction
thereof and the Trustee will sign and post, but will not guarantee receipt of,
any such documents to the Servicer, or such other party as the Servicer may
direct, within five Business Days, or more promptly if needed, of the Trustee's
receipt of such certificate or documents. Such certificate or documents shall
establish to the Trustee's satisfaction that the related Mortgage Loan has been
paid in full by or on behalf of the Mortgagor and that such payment has been
deposited in the Principal and Interest Account.
Section 7.03 Servicing Compensation.
As compensation for its services under this Agreement, subject to Section
6.10 and 6.16, the Servicer shall be entitled to withdraw from the Principal and
Interest Account with respect to the related Sub-Pool or to retain from interest
payments on the Mortgage Loans, the Servicer's Servicing Fee. Additional
servicing compensation in the form of assumption and other administrative fees,
interest paid on funds on deposit in the Principal and Interest Accounts,
interest paid and earnings realized on Permitted Instruments in the Principal
and Interest Accounts, Certificate Accounts and Trustee Expense Accounts,
amounts remitted pursuant to Sections 6.03(c)(iii), 6.04 and 7.01 above, late
payment charges and Excess Proceeds shall be retained by or remitted to the
Servicer to the extent not required to be remitted to the Trustee for deposit in
the Certificate Accounts. The Servicer shall be required to pay all expenses
incurred by it in connection with its servicing activities hereunder and shall
not be entitled to reimbursement therefor except as specifically provided for
herein. The Depositor's Yield is the property of the Depositor, and not the
property of the Servicer, and such ownership shall not be affected by any
termination of the Servicer.
Section 7.04 Annual Statement as to Compliance.
The Servicer will deliver to the Certificate Insurer, the Trustee, S&P,
Moody's, Merrill Lynch, Pierce, Fenner & Smith Incorporated and J.P. Morgan
Securities Inc., not later
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than the last day of the fourth month following the end of the Servicer's fiscal
year, beginning for the fiscal year ending June 30, 1997, an Officer's
Certificate stating that (i) the Servicer has fully complied with the provisions
of Articles V and VII, (ii) a review of the activities of the Servicer during
the preceding fiscal year and of performance under this Agreement has been made
under such officer's supervision, and (iii) to the best of such officers'
knowledge, based on such review, the Servicer has fulfilled all its obligations
under this Agreement throughout such year, or, if there has been a default in
the fulfillment of any such obligation, specifying each such default known to
such officers and the nature and status thereof and the action being taken by
the Servicer to cure such default.
Section 7.05 Annual Independent Public Accountants' Servicing Report and
Comfort Letter.
Not later than the last day of the fourth month following the end of the
Servicer's fiscal year, beginning for the fiscal year ending June 30, 1997, the
Servicer, at its expense, shall cause a firm of independent public accountants
reasonably acceptable to the Trustee and the Certificate Insurer to furnish (1)
a letter or letters to the Certificate Insurer, the Trustee, S&P, Moody's,
Merrill Lynch, Pierce, Fenner & Smith Incorporated and J.P. Morgan Securities
Inc. to the effect that such firm has with respect to the Servicer's overall
servicing operations examined such operations in accordance with the
requirements of the Uniform Single Audit Program for Mortgage Bankers, and
stating such firm's conclusions relating thereto and (2) a letter to the effect
that such firm has examined Section 6.08 of this Agreement (or the comparable
section of a substantially similar agreement of the Servicer, as Servicer, under
which certain payments to the holders of certificates are guaranteed by the
Certificate Insurer) and verified the mathematical accuracy of the amounts
reported by the Servicer and that such amounts were computed in accordance with
the terms of this Agreement (or such comparable agreement).
Section 7.06 Certificateholder's, Trustee's and Certificate
Insurer's Right to Examine Servicer Records.
Each Certificateholder, the Trustee and the Certificate Insurer shall have
the right upon reasonable prior notice, during normal business hours and as
often as reasonably required, to examine and audit any and all of the books,
records or other information of the Servicer, whether held by the Servicer or by
another on behalf of the Servicer, which may be relevant to the performance or
observance by the Servicer of the terms, covenants or conditions of this
Agreement.
Section 7.07 Reports to the Trustee; Principal and
Interest Account Statements.
If any Principal and Interest Account is not maintained with the Trustee,
then not later than 25 days after each Record Date, the Servicer shall forward
to the Trustee a statement, certified by a Servicing Officer, setting forth the
status of such Principal and Interest Account as of the close of business on the
preceding Record Date and showing, for the period covered
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by such statement, the aggregate of deposits into such Principal and Interest
Account for each category of deposit specified in Section 5.03 above, the
aggregate of withdrawals from such Principal and Interest Account for each
category of withdrawal specified in Section 5.04 above, the aggregate amount of
permitted withdrawals not made in the related Due Period, the amount of any
related Monthly Advances and reduction of the Servicing Fee pursuant to Section
6.16, in each case, for the related Due Period.
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ARTICLE VIII
REPORTS TO BE PROVIDED BY SERVICER
Section 8.01 Financial Statements.
The Servicer understands that, in connection with the transfer of the
Certificates, Certificateholders may request that the Servicer make available to
prospective Certificateholders annual audited financial statements of the
Servicer for one or more of the most recently completed five fiscal years for
which such statements are available, which request shall not be unreasonably
denied.
The Servicer also agrees to make available on a reasonable basis to the
Certificate Insurer and any prospective Certificateholder a knowledgeable
financial or accounting officer for the purpose of answering reasonable
questions respecting recent developments affecting the Servicer or the financial
statements of the Servicer and to permit the Certificate Insurer and any
prospective Certificateholder to inspect the Servicer's servicing facilities
during normal business hours for the purpose of satisfying the Certificate
Insurer and such prospective Certificateholder that the Servicer has the ability
to service the Mortgage Loans in accordance with this Agreement.
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ARTICLE IX
THE SERVICER
Section 9.01 Indemnification; Third Party Claims.
(a) The Servicer agrees to indemnify and hold the Trustee, the Certificate
Insurer and each Certificateholder (and their respective Affiliates, directors,
officers, employees and agents) harmless against any and all claims, losses,
penalties, fines, forfeitures, legal fees and related costs, judgments, and any
other costs, fees and expenses that the Trustee, the Certificate Insurer, any
such Certificateholder or any such other indemnified Person may sustain in any
way related to the failure of the Servicer to perform its duties and service the
Mortgage Loans in compliance with the terms of this Agreement. The Servicer
shall immediately notify the Trustee, the Certificate Insurer and each
Certificateholder if a claim is made by a third party with respect to this
Agreement, and the Servicer shall assume (with the consent of the Trustee) the
defense of any such claim and advance all expenses in connection therewith,
including reasonable counsel fees, and promptly advance funds to pay, discharge
and satisfy any judgment or decree which may be entered against the Servicer,
the Trustee, the Certificate Insurer, a Certificateholder and/or any such other
indemnified Person in respect of such claim. The Trustee may reimburse the
Servicer from amounts otherwise distributable on the Class R Certificates for
all amounts advanced by it pursuant to the preceding sentence except when the
claim relates directly to the failure of the Servicer to service and administer
the Mortgage Loans in compliance with the terms of this Agreement.
(b) The Depositor agrees to indemnify and hold the Trustee, the Certificate
Insurer and each Certificateholder (and their respective Affiliates, directors,
officers, employees and agents) harmless against any and all claims, losses,
penalties, fines, forfeitures, legal fees and related costs, judgments, and any
other costs, fees and expenses that the Trustee, the Certificate Insurer, any
Certificateholder and/or any such other indemnified person may sustain in any
way related to the failure of the Servicer, if it is an Affiliate thereof, or
the failure of the Depositor to perform their respective duties in compliance
with the terms of this Agreement. The Depositor shall immediately notify the
Trustee, the Certificate Insurer and each Certificateholder if a claim is made
by a third party with respect to this Agreement and the Depositor shall assume
(with the consent of the Trustee) the defense of any such claim and advance all
expenses in connection therewith, including reasonable counsel fees, and
promptly advance funds to pay, discharge and satisfy any judgment or decree
which may be entered against the Servicer, the Depositor, the Trustee, the
Certificate Insurer, a Certificateholder and/or any such other indemnified
Person in respect of such claim. The Trustee may, if necessary, reimburse the
Depositor from amounts otherwise distributable on the Class R Certificates if
the claim is made with respect to this Agreement for all amounts advanced by it
pursuant to the preceding sentence, except when the claim relates directly to
the failure of a Servicer, if it is, or is an affiliate of, the Depositor, to
perform its obligations to service and administer the Mortgages in compliance
with the terms of this Agreement, or the failure of the Depositor to perform its
duties in compliance with the terms of this Agreement.
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(c) The Depositor agrees to indemnify the Trust Fund for any liability
arising from the naming of the Trust Fund as a defendant in its capacity as an
assignee of the lender in an action under the Riegle Community Development and
Regulatory Improvement Act of 1994.
Section 9.02 Merger or Consolidation of the Depositor and the Servicer.
The Servicer and the Depositor will keep in full effect its existence,
rights and franchises as a corporation, and will obtain and preserve its
qualification to do business as a foreign corporation, in each jurisdiction
necessary to protect the validity and enforceability of this Agreement or any of
the Mortgage Loans and to perform its duties under this Agreement.
Any Person into which the Servicer may be merged or consolidated, or any
corporation resulting from any merger, conversion or consolidation to which the
Servicer shall be a party, or any Person succeeding to the business of the
Servicer, shall be an established mortgage loan servicing institution that has a
net worth of at least $15,000,000 and shall be the successor of the Servicer
without the execution or filing of any paper or any further act on the part of
any of the parties hereto, anything herein to the contrary notwithstanding;
provided, however, that the successor or surviving person to any Servicer shall
be qualified to sell mortgage loans to, and to service mortgage loans on behalf
of FNMA or FHLMC. The Servicer shall send notice of any such merger or
consolidation to the Trustee, the Rating Agencies and the Certificate Insurer.
Section 9.03 Limitation on Liability of the Servicer and Others.
The Depositor and the Servicer shall each be liable in accordance herewith
only to the extent of the obligations specifically and respectively imposed upon
and undertaken by them herein. The Servicer and any director, officer, employee
or agent of the Servicer may rely on any document of any kind which it in good
faith reasonably believes to be genuine and to have been adopted or signed by
the proper authorities respecting any matters arising hereunder. Subject to the
terms of Section 9.01, the Servicer shall have no obligation to appear with
respect to, prosecute or defend, any legal action which is not incidental to the
Servicer's duty to service the Mortgage Loans in accordance with this Agreement.
Section 9.04 Servicer Not to Resign.
The Servicer shall not assign this Agreement or any part thereof nor resign
from the obligations and duties hereby imposed on it except (i) that the
Servicer may resign from any obligations and duties hereby imposed on it in
connection with the Class 1A Certificates upon mutual consent of the Servicer,
the Depositor, the Certificate Insurer, the Trustee and the Class 1A Majority
Certificateholders, (ii) that the Servicer may resign from any obligations and
duties hereby imposed on it in connection with the Class 2A Certificates upon
mutual consent of the Servicer, the Depositor, the Certificate Insurer, the
Trustee and the Class 2A Majority Certificateholders or (iii) upon the
determination that the Servicer's duties hereunder are no longer permissible
under applicable law and such incapacity cannot be cured by the Servicer.
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Any such determination under clause (ii) permitting the resignation of the
Servicer shall be evidenced by a written Opinion of Counsel (who may be counsel
for the Servicer) to such effect delivered to the Trustee, the Depositor and the
Certificate Insurer, which Opinion of Counsel shall be in form and substance
acceptable to the Trustee and the Certificate Insurer. No such resignation shall
become effective until a successor has assumed such Servicer's responsibilities
and obligations hereunder in accordance with Section 10.02.
Section 9.05 Representations of the Servicer.
The Servicer hereby represents and warrants to the Trustee, the Certificate
Insurer and the Certificateholders as of the Closing Date:
(a) The Servicer is a federally chartered stock savings bank and has
been duly organized and is validly existing and in good standing under the
laws of the United States and has all licenses necessary to carry on its
business as now being conducted and is licensed, qualified and in good
standing in each Mortgaged Property State if the laws of such state require
licensing or qualification in order to conduct business of the type
conducted by the Servicer and perform its obligations as Servicer or exempt
from such licensing or qualification; the Servicer has the power and
authority to execute and deliver this Agreement and to perform in
accordance herewith; the execution, delivery and performance of this
Agreement (including all instruments of transfer to be delivered pursuant
to this Agreement) by the Servicer and the consummation of the transactions
contemplated hereby have been duly and validly authorized by all necessary
action; this Agreement evidences the valid, binding and enforceable
obligation of the Servicer; and all requisite action has been taken by the
Servicer to make this Agreement valid, binding and enforceable upon the
Servicer in accordance with its terms, subject to the effect of bankruptcy,
insolvency, reorganization, moratorium and other, similar laws relating to
or affecting creditors' rights generally or the application of equitable
principles in any proceeding, whether at law or in equity;
(b) All actions, approvals, consents, waivers, exemptions, variances,
franchises, orders, permits, authorizations, rights and licenses required
to be taken, given or obtained, as the case may be, by or from any federal,
state or other governmental authority or agency (other than any such
actions, approvals, etc. under any state securities laws, real estate
syndication or "Blue Sky" statutes, as to which the Servicer makes no such
representation or warranty), that are necessary in connection with the
execution and delivery by the Servicer of the documents to which it is a
party, have been duly taken, given or obtained, as the case may be, are in
full force and effect, are not subject to any pending proceedings or
appeals (administrative, judicial or otherwise) and either the time within
which any appeal therefrom may be taken or review thereof may be obtained
has expired or no review thereof may be obtained or appeal therefrom taken,
and are adequate to authorize the consummation of the transactions
contemplated by this Agreement and the other documents on the part of the
Servicer and the performance by the Servicer of its obligations as Servicer
under this Agreement and such of the other documents to which it is a
party;
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(c) The consummation of the transactions contemplated by this
Agreement will not result in the breach of any terms or provisions of the
charter or by-laws of the Servicer or result in the breach of any term or
provision of, or conflict with or constitute a default under or result in
the acceleration of any obligation under, any material agreement, indenture
or loan or credit agreement or other material instrument to which the
Servicer or its property is subject, or result in the violation of any law,
rule, regulation, order, judgment or decree to which the Servicer or its
property is subject;
(d) Neither this Agreement nor the Prospectus nor any statement,
report or other document prepared by the Servicer and furnished or to be
furnished pursuant to this Agreement or in connection with the transactions
contemplated hereby contains any untrue statement of material fact or omits
to state a material fact necessary to make the statements contained herein
or therein not misleading;
(e) There is no action, suit, proceeding or investigation pending or,
to the best of the Servicer's knowledge, threatened against the Servicer
which, either in any one instance or in the aggregate, may result in any
material adverse change in the business, operations, financial condition,
properties or assets of the Servicer or in any material impairment of the
right or ability of the Servicer to carry on its business substantially as
now conducted, or in any material liability on the part of the Servicer or
which would draw into question the validity of this Agreement or the
Mortgage Loans or of any action taken or to be taken in connection with the
obligations of the Servicer contemplated herein, or which would be likely
to impair materially the ability of the Servicer to perform under the terms
of this Agreement; and
(f) The Servicer is not in default with respect to any order or decree
of any court or any order, regulation or demand of any federal, state,
municipal or governmental agency, which default might have consequences
that would materially and adversely affect the condition (financial or
other) or operations of the Servicer or its properties or might have
consequences that would materially and adversely affect its performance
hereunder or under any Subservicing Agreement.
Section 9.06 Accounting Upon Resignation or Termination of Servicer.
Upon resignation of the Servicer under Section 9.04 or upon termination of
the Servicer under Section 10.01, the Servicer shall:
(a) deliver to its successor or, if none shall yet have been
appointed, to the Trustee the funds in the Sub-Pool 1 Principal and
Interest Account or the Sub-Pool 2 Principal and Interest Account;
(b) deliver to its successor or, if none shall yet have been
appointed, to the Trustee all Mortgage Files and related documents and
statements held by it hereunder and a Mortgage Loan portfolio computer
tape;
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(c) deliver to its successor or, if none shall yet have been
appointed, to the Trustee and, upon request, to the Certificateholders a
full accounting of all funds, including a statement showing the Monthly
Payments collected by it and a statement of monies held in trust by it for
the payments or charges with respect to the Mortgage Loans; and
(d) execute and deliver such instruments and perform all acts
reasonably requested in order to effect the orderly and efficient transfer
of servicing of the Mortgage Loans to its successor and to more fully and
definitively vest in such successor all rights, powers, duties,
responsibilities, obligations and liabilities of the Servicer under this
Agreement.
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ARTICLE X
DEFAULT
Section 10.01 Events of Default.
(a) In case one or more of the following Events of Default by the Servicer
shall occur and be continuing, that is to say, with respect to a Sub-Pool:
(i)(A) an Event of Nonpayment which continues unremedied for a period
of one (1) Business Day after the date on which written notice of such
failure requiring the same to be remedied shall have been given to the
Servicer by the Trustee, to the Servicer and the Trustee by the Certificate
Insurer or to the Servicer, the Trustee and the Certificate Insurer by any
Certificateholder and, in the case of an Event of Nonpayment described in
clause (i) or (ii) of the definition thereof, the insufficiency referred to
in such clause (i) or (ii) does not result from a failure by the
Certificate Insurer to perform in accordance with the terms of this
Agreement with respect to such Sub-Pool or the Certificate Insurance Policy
or a failure by the Trustee to perform in accordance with this Agreement
with respect to such Sub-Pool; (B) the failure by the Servicer to make any
required Servicing Advance with respect to a Sub-Pool, to the extent such
failure materially and adversely affects the interest of the Certificate
Insurer or the related Certificateholders and which continues unremedied
for a period of 20 days after the date on which written notice of such
failure requiring the same to be remedied shall have been given to the
Servicer by the Trustee, to the Servicer and the Trustee by the Certificate
Insurer or to the Servicer, the Trustee and the Certificate Insurer by any
Certificateholder; (C) the failure by the Servicer to make any required
Monthly Advance to the extent of the full amount of the related Class A
Interest Remittance Amount; or (D) any other failure by the Servicer to
remit to the related Certificateholders, or to the Trustee for the benefit
of the related Certificateholders, any payment required to be made by the
Servicer under the terms of this Agreement, to the extent such failure
materially and adversely affects the interest of the Certificate Insurer or
the Certificateholders and which continues unremedied for a period of 20
days after the date upon which written notice of such failure requiring the
same to be remedied shall have been given to the Servicer by the Trustee,
to the Servicer and the Trustee by the Certificate Insurer or to the
Servicer, the Trustee and the Certificate Insurer by any Certificateholder;
or
(ii) failure by the Servicer duly to observe or perform, in any
material respect, any other covenants, obligations or agreements of the
Servicer as set forth herein, which failure continues unremedied for a
period of 60 days after the date on which written notice of such failure,
requiring the same to be remedied, shall have been given to the Servicer by
the Trustee, to the Servicer and the Trustee
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by the Certificate Insurer or to the Servicer, the Trustee and the
Certificate Insurer by any Certificateholder; or
(iii) a decree or order of a court or agency or supervisory authority
having jurisdiction for the appointment of a conservator or receiver or
liquidator in any insolvency, readjustment of debt, marshalling of assets
and liabilities or similar proceedings, or for the winding-up or
liquidation of its affairs, shall have been entered against the Servicer
and such decree or order shall have remained in force, undischarged or
unstayed for a period of 60 days; or
(iv) the Servicer shall consent to the appointment of a conservator or
receiver or liquidator in any insolvency, readjustment of debt, marshalling
of assets and liabilities or similar proceedings of or relating to the
Servicer or of or relating to all or substantially all of the Servicer's
property, which appointment shall continue unremedied for a period of 30
days after the Servicer has received notice of such default; or
(v) the Servicer shall admit in writing its inability to pay its debts
as they become due, file a petition to take advantage of any applicable
insolvency or reorganization statute, make an assignment for the benefit of
its creditors, or voluntarily suspend payment of its obligations, any of
which shall continue unremedied for a period of 30 days after the Servicer
has received notice of such default;
(b) then, and in each and every such case so long as such Event of Default
shall not have been remedied, (x) in the case solely of clause (i)(C) above, if
such Monthly Advance is not made by 4:00 p.m. Chicago time on the Determination
Date, the Trustee, upon receipt of written notice or discovery by a Responsible
Officer of such failure, shall give immediate telephonic notice of such failure
to a Servicing Officer of the Servicer and, unless such failure is cured, either
by receipt of payment or receipt of evidence satisfactory to the Certificate
Insurer (e.g., a wire reference number communicated by the sending bank; the
Certificate Insurer shall notify the Trustee if the Certificate Insurer receives
satisfactory evidence that such funds have been sent), by 12:00 Noon New York
City time on the following Business Day, the Trustee, or a successor servicer
appointed in accordance with Section 10.02, shall immediately make such Monthly
Advance and assume, pursuant to Section 10.02, the duties of a successor
Servicer with respect to such Sub-Pool, and (y) in the case of clauses (i)(A),
(i)(B), (i)(D), (ii), (iii), (iv) and (v) above, the Majority Certificateholders
of the related Sub-Pool(s) affected by such Event of Default, by notice in
writing to the Servicer and a Responsible Officer of the Trustee and subject to
the prior written consent of the Certificate Insurer, which consent may not be
unreasonably withheld, may, in addition to whatever rights such
Certificateholders may have at law or equity to damages, including injunctive
relief and specific performance, commence termination of all the rights and
obligations of the Servicer hereunder with respect to the Sub-Pool(s) affected
by such Event of Default and in and to the Mortgage Loans of the Sub-Pool(s)
affected by such Event of Default and the proceeds thereof, as servicer. Upon
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receipt by the Servicer of a second written notice (except relative to clause
(i)(C) above) from the Majority Certificateholders of the related Sub-Pool
stating that they intend to terminate the Servicer as a result of such Event of
Default, all authority and power of the Servicer under this Agreement with
respect to such Sub-Pool, shall, subject to Section 10.02, pass to and be vested
in the Trustee or its designee and the Trustee is hereby authorized and
empowered to execute and deliver, on behalf of the Servicer, as attorney-in-fact
or otherwise, any and all documents and other instruments and do or cause to be
done all other acts or things necessary or appropriate to effect the purposes of
such notice of termination, including, but not limited to, the transfer and
endorsement or assignment of the related Mortgage Loans and related documents.
The Servicer agrees to cooperate with the Trustee in effecting the termination
of the Servicer's responsibilities and rights hereunder with respect to the
related Sub-Pool, including, without limitation, the transfer to the Trustee or
its designee for administration by it of all amounts which shall at the time be
credited by the Servicer to the related Principal and Interest Account or
thereafter received with respect to the Mortgage Loans of the related Sub-Pool.
For the purposes of exercising the remedies set forth in Section 10.01 above,
with respect to clauses (i), (iii), (iv) and (v) of Section 10.01(a) above, the
Certificate Insurer shall be deemed to be the Majority Certificateholder for a
Sub-Pool for so long as the Certificate Insurance Policy shall be in effect and
the Certificate Insurer shall be in full compliance with its payment obligations
thereunder. If, however, the Certificate Insurer fails to exercise any of its
rights under this Section 10.01 in respect of such clauses (i), (iii), (iv) and
(v), it shall not be deemed to be the Majority Certificateholder for such
Sub-Pool for the purposes of such clauses. For the purposes of clause (ii),
either the Certificate Insurer with the consent of the Trustee or the Majority
Certificateholders of the related Sub-Pool(s) affected by such Event of Default
may direct the appropriate remedial action provided in this Section.
The Trustee shall not be deemed to have knowledge of an Event of Default
(except an Event of Default pursuant to Section 10.01(a)(i)(A) above relating to
an Event of Nonpayment or the failure to make a Monthly Advance) unless a
Responsible Officer has received written notice thereof.
(c) Notwithstanding anything to the contrary contained in this Agreement,
upon the occurrence of an Event of Nonpayment known to a Responsible Officer of
the Trustee, the Trustee shall promptly notify the Certificate Insurer of such
occurrence with respect to such Sub-Pool. During the thirty (30) day period
following receipt of such notice, the Trustee and the Certificate Insurer shall
cooperate with each other to determine if the occurrence of such Event of
Nonpayment is more likely than not the result of the acts or omissions of the
Servicer or more likely than not the result of events beyond the control of the
Servicer. If the Trustee and the Certificate Insurer conclude that the Event of
Nonpayment is the result of the latter, the Servicer may not be terminated with
respect to such Sub-Pool, unless and until an Event of Default unrelated to such
Event of Nonpayment has occurred and is continuing, whether or not the Servicer
has cured such Event of Nonpayment. If the Trustee and the Certificate Insurer
conclude that the Event of Nonpayment is the result of the former, the
Certificate Insurer or the Majority Certificateholders of the related Sub-Pool,
as the case may be, may terminate the Servicer in accordance with Section
10.01(b) above, provided that the Trustee shall have until
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the 60th day following the date of receipt of notice of the Event of Nonpayment
to either assume the servicing for the related Sub-Pool or appoint a successor
servicer for the related Sub-Pool pursuant to Section 10.02.
If the Trustee and the Certificate Insurer cannot agree, and the basis for
such disagreement is not arbitrary or unreasonable, as to the cause of the Event
of Nonpayment with respect to such Sub-Pool, the decision of the Certificate
Insurer shall control; provided, however, that if the Certificate Insurer
decides to terminate the Servicer, the Trustee shall be relieved of its
obligation to assume the servicing or to appoint a successor, which shall be the
exclusive obligation of the Certificate Insurer.
The Trustee shall promptly notify Moody's and S&P of the occurrence of an
Event of Default known to a Responsible Officer of the Trustee.
Notwithstanding any termination of the activities of a Servicer hereunder,
the Servicer shall be entitled to receive, out of any late collection of a
Monthly Payment on a Mortgage Loan which was due prior to the notice terminating
the Servicer's rights and obligations as Servicer hereunder and received after
such notice, that portion thereof to which the Servicer would have been entitled
pursuant to Sections 5.04(i) through (ix), and any other amounts payable to the
Servicer hereunder the entitlement to which arose prior to the termination of
its activities hereunder.
Section 10.02 Trustee to Act; Appointment of Successor.
On and after the time the Servicer receives a notice of termination
pursuant to Section 10.01 above, or the Trustee receives the resignation of the
Servicer evidenced by an Opinion of Counsel pursuant to Section 9.04, or the
Servicer is removed as servicer pursuant to this Article X, the Trustee shall
be, with respect to such Sub-Pool, the successor in all respects to the Servicer
in its capacity as servicer under this Agreement with respect to such Sub-Pool
and the transactions set forth or provided for herein and shall be subject to
all the responsibilities, duties and liabilities relating thereto placed on the
Servicer by the terms and provisions hereof, provided, however, that the Trustee
shall have no liability or obligation hereunder in respect of any period prior
to becoming such successor, whether for acts or omissions of any prior servicer
or otherwise. The Trustee, as successor to the Servicer, shall be obligated to
make advances pursuant to Sections 6.09, 6.10, 6.16, 5.10 or 5.14 unless, and
only to the extent, the Trustee determines reasonably and in good faith that
such advances would not be recoverable pursuant to Sections 5.04(ii),
6.06(c)(A)(X)(xx) and (xxi) or 6.06(c)(A)(Y)(xiv) and (xv) with respect to
Sub-Pool 1, or 6.06(c)(B)(X)(v) and (vi) or 6.06(c)(B)(Y)(iv) and (v) with
respect to Sub-Pool 2 above, such determination to be evidenced by a
certification of a Responsible Officer of the Trustee delivered to the
Certificate Insurer. Subject to its determination that such advances would not
be recoverable in accordance with the foregoing, the Trustee, as successor to
the Servicer, shall be obligated to advance any amount described in clause
(c)(vii) of the definition of Class A Principal Remittance Amount. As
compensation therefor, the Trustee, or any successor servicer appointed pursuant
to the
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following paragraph, shall be entitled to all funds relating to the Mortgage
Loans which the Servicer would have been entitled to receive from the related
Principal and Interest Account pursuant to Section 5.04 above if the Servicer
had continued to act as servicer hereunder, together with other servicing
compensation as provided in Sections 7.01 and 7.03 above. In no event shall the
Trustee or the Trust Fund acquire any rights to the Depositor's Yield.
The Trustee also shall have the right to elect to be successor to the
Servicer with respect to less than all of the responsibilities, duties and
liabilities relating thereto placed on the Servicer by the terms and provisions
hereof, and shall be entitled to select such responsibilities and duties (and
related liabilities) and appoint a successor servicer to perform the other
responsibilities (and related liabilities). In the event that the Trustee makes
such election, the aggregate compensation payable to the Trustee and the
successor servicer may be equal to (but shall not be in excess of) that set
forth in Section 7.03, the breakdown of such compensation between the Trustee
and such successor servicer to be determined by them. In the event the Trustee
makes such election, it shall provide prompt written notice to the Depositor,
which notice shall identify the successor servicer, the portion of the
responsibilities, duties and liabilities to be performed by the Trustee and the
Servicer and the portion of the compensation of the Servicer which is to be paid
to each of the Trustee and such successor servicer.
Notwithstanding the above, the Trustee may, if it shall be unwilling to so
act, or shall, if it is unable to so act or if the Majority Certificateholders
of the affected Sub-Pool(s) or the Certificate Insurer so request in writing to
the Trustee, appoint, or petition a court of competent jurisdiction to appoint,
any established mortgage loan servicing institution acceptable to the
Certificate Insurer, which acceptance shall not be unreasonably withheld, that
has a net worth of not less than $15,000,000 and which is approved as a servicer
by FNMA and FHLMC as the successor to the Servicer hereunder in the assumption
of all or any part of the responsibilities, duties or liabilities of the
Servicer hereunder. Any collections received by the Servicer after removal or
resignation shall be endorsed by it to the Trustee and remitted directly to the
Trustee or, at the direction of the Trustee, to the successor servicer. The
compensation of any successor servicer (including, without limitation, the
Trustee) so appointed shall be the aggregate Servicing Fees, together with other
Servicing Compensation in the form of assumption fees, late payment charges or
otherwise. The Trustee and such successor shall take such action, consistent
with this Agreement, as shall be necessary to effectuate any such succession.
The Servicer agrees to cooperate with the Trustee and any successor servicer in
effecting the termination of the Servicer's servicing responsibilities and
rights hereunder and shall promptly provide the Trustee or such successor
servicer, as applicable, all documents and records reasonably requested by it to
enable it to assume the Servicer's functions hereunder and shall promptly also
transfer to the Trustee or such successor servicer, as applicable, all amounts
which then have been or should have been deposited in the related Principal and
Interest Account by the Servicer or which are thereafter received with respect
to the Mortgage Loans. Neither the Trustee nor any other successor servicer
shall be held liable by reason of any failure to make, or any delay in making,
any distribution hereunder or any portion thereof caused by (i) the failure of
the Servicer to deliver, or any delay in delivering, cash, documents or records
to it, or (ii) restrictions imposed by any regulatory authority having
jurisdiction over the Servicer hereunder.
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No appointment of a successor to the Servicer hereunder shall be effective until
the Trustee shall have consented thereto, and written notice of such proposed
appointment shall have been provided by the Trustee to each Certificateholder.
The Trustee shall not resign as successor servicer until another successor
servicer reasonably acceptable to the Certificate Insurer has been appointed.
Pending appointment of a successor to the Servicer hereunder, the Trustee
shall act in such capacity as hereinabove provided. In connection with such
appointment and assumption, the Trustee may make such arrangements for the
compensation of such successor out of payments on Mortgage Loans as it and such
successor shall agree; provided, however, that no such compensation shall be in
excess of that permitted the Servicer pursuant to Section 7.03, together with
other servicing compensation in the form of assumption fees, late payment
charges or otherwise as provided in this Agreement. The Servicer, the Trustee,
any Custodian and such successor shall take such action, consistent with this
Agreement, as shall be necessary to effectuate any such succession.
Section 10.03 Waiver of Defaults.
The Majority Certificateholders with respect to a Sub-Pool, on behalf of
all Certificateholders with respect to such Sub-Pool, and subject to the consent
of the Certificate Insurer, or the Certificate Insurer, may waive any events
permitting removal of the Servicer as servicer with respect to a Sub-Pool
pursuant to this Article X; provided, however, that neither the Majority
Certificateholders nor the Certificate Insurer may waive a default in making a
required distribution on a Certificate without the consent of the Holder of such
Certificate. Upon any waiver of a past default, such default shall cease to
exist, and any Event of Default arising therefrom shall be deemed to have been
remedied for every purpose of this Agreement. No such waiver shall extend to any
subsequent or other default or impair any right consequent thereto except to the
extent expressly so waived. Notice of any such waiver shall be given by the
Trustee to Moody's and S&P.
Section 10.04 Trigger Event.
(a) Upon the determination by the Certificate Insurer that a Trigger Event
with respect to a Sub-Pool has occurred, the Certificate Insurer shall give
notice of such Trigger Event to the Servicer, the other parties hereto, Moody's
and S&P. Upon such determination, the Certificate Insurer may direct the Trustee
to terminate the Servicer with respect to the related Sub-Pool.
(b) Upon receipt of direction to remove the Servicer with respect to the
related Sub-Pool pursuant to the preceding clause (a), the Trustee shall notify
the Servicer that it has been terminated with respect to such Sub-Pool and the
Servicer shall be terminated with respect to such Sub-Pool in the same manner as
specified in Sections 10.01 and 10.02.
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ARTICLE XI
TERMINATION
Section 11.01 Termination.
Subject to Section 11.02, this Agreement shall terminate upon notice to the
Trustee of either: (a) the later of the distribution to Certificateholders of
the final payment or collection with respect to the last Mortgage Loan (or
Monthly Advances of same by the Servicer), or the disposition of all funds with
respect to the last Mortgage Loan and the remittance of all funds due hereunder
and the payment of all amounts due and payable to the Certificate Insurer and
the Trustee or (b) mutual consent of the Servicer, the Certificate Insurer and
all Certificateholders in writing; provided, however, that in no event shall the
Trust established by this Agreement terminate later than the later of (i)
twenty-one years after the death of the last lineal descendant of Joseph P.
Kennedy, late Ambassador of the United States to the Court of St. James's, alive
on the date hereof or (ii) the latest possible maturity date specified in
Section 13.01(l).
Subject to Section 11.02, the Servicer may, at its option, terminate its
rights and obligations under this Agreement (A) with respect to Sub-Pool 1, on
any date on which the Sub-Pool 1 Principal Balance is less than or equal to 5%
of the sum of the Original Sub-Pool 1 Principal Balance and the Original
Pre-Funded Amount with respect to Sub-Pool 1, provided, however that on or prior
to such Remittance Date, (x) the Servicer will have terminated its rights and
obligations under this Agreement with respect to Sub-Pool 2 pursuant to clause
(B) hereof or (y) the Class 1A-6 Principal Balance on such date is less than or
equal to 5% of the Original Class 1A-6 Principal Balance, and (B) with respect
to Sub-Pool 2 on any date on which the Sub-Pool 2 Principal Balance is less than
or equal to 5% of the sum of the Original Sub-Pool 2 Principal Balance and
Original Pre-Funded Amount with respect to Sub-Pool 2, by purchasing, on the
next succeeding Remittance Date, all of the outstanding Mortgage Loans and REO
Properties in such Sub-Pool at a price (the "Termination Price") equal to the
excess, if any, of (1) the sum of (x) 100% of the Principal Balance of each
outstanding Mortgage Loan and each REO Property, and (y) 30 days' interest on
the amount described in clause (x) at a rate equal to, with respect to Sub-Pool
1, the sum of the weighted average of the Class 1A Pass-Through Rates (applied
to the Principal Balances of the Sub-Pool 1 Mortgage Loans) and, with respect to
Sub-Pool 2, a rate equal to the Class 2A Pass-Through Rate (applied to the
Principal Balances of the Sub-Pool 2 Mortgage Loans), over (2) the amounts
(other than the Termination Price being calculated pursuant to this paragraph)
that will constitute the Available Remittance Amount with respect to such
Sub-Pool for such Remittance Date (including without limitation, the amounts to
be transferred to the related Certificate Account on the Determination Date
immediately preceding such Remittance Date pursuant to the second following
paragraph), to the extent such other amounts represent collections on the
Mortgage Loans and REO Properties in such Sub-Pool of principal not yet applied
to reduce the related Principal Balance thereof or interest (adjusted to a rate
equal to, with respect to Sub-Pool 1, the sum of the weighted average of the
Class 1A Pass-Through Rates and, with respect to Sub-Pool 2, the Class 2A
Pass-Through
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Rate accrued from and after the respective Due Dates in the Due Period next
preceding the related Due Period. In connection with any such purchase, the
Servicer shall pay any outstanding and unpaid fees and expenses of the Trustee
and the Certificate Insurer relating to this Agreement that such parties would
otherwise have been entitled to pursuant to Sections 12.05 and 6.03(a), in the
case of the Trustee, and Section 6.04, in the case of the Certificate Insurer.
Any such purchase by the Servicer shall be accomplished by remitting to the
Trustee for deposit into the related Certificate Account on the Determination
Date immediately preceding the Remittance Date on which the purchase is to occur
the amount of the Termination Price. On the same day that the Termination Price
is deposited into the related Certificate Account, any amounts then on deposit
in the Principal and Interest Account with respect to such Sub-Pool (other than
Excess Spread, any amounts not required to have been deposited therein pursuant
to Section 5.03 and any amounts withdrawable therefrom by the Servicer pursuant
to Section 5.04(ii), (iii) and (vii)) shall be transferred to the related
Certificate Account for distribution to the related Certificateholders on the
final Remittance Date; and any amounts received by the Servicer with respect to
the Mortgage Loans and REO Properties in such Sub-Pool subsequent to such
transfer shall belong to the Person purchasing the Mortgage Loans and REO
Properties relating to such Sub-Pool. For purposes of calculating the Available
Remittance Amount with respect to a Sub-Pool for the final Remittance Date,
amounts transferred to the related Certificate Account pursuant to the
immediately preceding sentence on the Determination Date immediately preceding
such final Remittance Date shall in all cases be deemed to have been received
during the related Due Period, and such transfer shall be made pursuant to
Section 5.04(i). The Termination Price remitted to the Trustee for deposit into
the related Certificate Account shall be in proportion to the outstanding
Mortgage Loans and REO Properties in such Sub-Pool.
Notice of any termination, specifying the Remittance Date upon which the
Trust Fund will terminate and the related Certificateholders shall surrender
their Certificates to the Trustee for payment of the final distribution and
cancellation, shall be given promptly by the Servicer by letter to the Trustee
to be forwarded to the related Certificateholders mailed during the month of
such final distribution before the Determination Date in such month, specifying
(i) the Remittance Date upon which final payment of the Certificates will be
made upon presentation and surrender of Certificates at the office of the
Trustee therein designated, (ii) the amount of any such final payment and (iii)
that the Record Date otherwise applicable to such Remittance Date is not
applicable, payments being made only upon presentation and surrender of the
Certificates at the office of the Trustee therein specified. On the final
Remittance Date, the Trustee shall distribute or credit, or cause to be
distributed or credited, the Amount Available for such Remittance Date in
accordance with Section 6.06(c). The obligations of the Certificate Insurer
under this Agreement shall terminate upon the deposit by the Servicer or the
Certificate Insurer, as applicable, with the Trustee of a sum sufficient to
purchase all of the Mortgage Loans and REO Properties as set forth above,
reduction of the Class 1A Principal Balance and the Class 2A Principal Balance
to zero and payment of any amount set forth in clause (c)(vii) of the definition
of Class A Principal Remittance Amount.
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In the event that all of the Certificateholders shall not surrender their
Certificates for cancellation within six months after the time specified in the
above-mentioned written notice, the Servicer shall give a second written notice
to the remaining Certificateholders to surrender their Certificates for
cancellation and receive the final distribution with respect thereto. If within
six months after the second notice, all of the Certificates shall not have been
surrendered for cancellation, the Trustee may take appropriate steps, or may
appoint an agent to take appropriate steps, to contact the remaining
Certificateholders concerning surrender of their Certificates and the cost
thereof shall be paid out of the funds and other assets of the Trust Fund which
remain subject hereto. If within nine months after the second notice all the
Certificates shall not have been surrendered for cancellation, the Class R
Certificateholders shall be entitled to all unclaimed funds and other assets of
the Trust Fund which remain subject hereto and the Trustee upon transfer of such
funds shall be discharged of any responsibility for such funds and the
Certificateholders shall look to the Class R Certificateholders for payment.
Section 11.02 Additional Termination Requirements.
(a) In the event the Servicer exercises its purchase option as provided in
Section 11.01 above, the Trust Fund shall be terminated in accordance with the
following additional requirements, unless the Trustee has been furnished with an
Opinion of Counsel to the effect that the failure of the Trust Fund to comply
with the requirements of this Section 11.02 will not (i) result in the
imposition of taxes on "prohibited transactions" of the Trust Fund as defined in
Section 860F of the Code, or (ii) cause the Trust Fund REMIC to fail to qualify
as a REMIC at any time that any Class A Certificates are outstanding:
(i) The Servicer shall establish a 90-day liquidation period for the
Trust Fund REMIC, and specify the first day of such period in a statement
attached to the Trust Fund REMIC's final Tax Return pursuant to Treasury
regulations Section 1.860F-1. The Servicer also shall satisfy all of the
requirements of a qualified liquidation for the Trust Fund REMIC, under
Section 860F of the Code and the regulations thereunder;
(ii) The Servicer shall notify the Trustee at the commencement of such
90-day liquidation period and, at or prior to the time of making of the
final payment on the Certificates, the Servicer shall sell or otherwise
dispose of all of the remaining assets of the Trust Fund REMIC, in
accordance with the terms hereof; and
(iii) At the time of the making of the final payment on the
Certificates, the Trustee shall distribute or credit, or cause to be
distributed or credited, to the Class R Certificateholders all cash on hand
(other than cash retained to meet claims), and the Trust Fund REMIC shall
terminate at that time.
(b) By their acceptance of the Certificates, the Holders thereof hereby
authorize the Servicer, if it chooses to do so, to specify the 90-day
liquidation period on the final Tax
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Return of the Trust Fund REMIC, which authorization shall be binding upon all
successor Certificateholders.
Section 11.03 Depositor's Right to Depositor's Yield Absolute.
The Depositor's right to receive the Depositor's Yield with respect to each
Mortgage Loan shall be absolute and unconditional, and shall survive
notwithstanding the termination of the rights and obligations of the Servicer
hereunder, the resignation of the Servicer or the termination of this Agreement.
The Depositor's right to receive the Depositor's Yield shall not be subject to
offset or counterclaim, whether or not such right has been assigned in whole or
in part, notwithstanding any breach of any representation or warranty of the
Depositor under this Agreement or any default by the Depositor of any of its
obligations or covenants under this Agreement. The Depositor shall have the
right to assign any or all of its rights in and to the Depositor's Yield,
without notice to or the consent of any party of this Agreement or any
Certificateholder.
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ARTICLE XII
THE TRUSTEE
Section 12.01 Duties of Trustee.
The Trustee, prior to the occurrence of an Event of Default and after the
curing of all Events of Default which may have occurred, undertakes to perform
such duties and only such duties as are specifically set forth in this
Agreement. If an Event of Default of which a Responsible Officer of the Trustee
shall have actual knowledge has occurred and has not been cured or waived, the
Trustee shall, except in those cases in which it is required by the terms of
this Agreement to follow the direction of the Certificate Insurer or the Rating
Agencies, exercise such of the rights and powers vested in it by this Agreement,
and use the same degree of care and skill in its exercise as a prudent person
would exercise or use under the circumstances in the conduct of such person's
own affairs.
The Trustee, upon receipt of all resolutions, certificates, statements,
opinions, reports, documents, orders or other instruments furnished to the
Trustee which are specifically required to be furnished pursuant to any
provision of this Agreement, shall examine them to determine whether they
conform to the requirements of this Agreement, provided, however that the
Trustee shall not be responsible for the accuracy or content of any resolution,
certificate, statement, opinion, report, document, order or other instrument
furnished by the Servicer or the Depositor hereunder. If any such instrument is
found not to conform to the requirements of this Agreement, the Trustee shall
notify the Certificate Insurer and request written instructions as to the action
the Certificate Insurer deems appropriate to have the instrument corrected, and
if the instrument is not so corrected, the Trustee will provide notice thereof
to the Certificate Insurer who shall then direct the Trustee as to the action,
if any, to be taken.
No provision of this Agreement shall be construed to relieve the Trustee
from liability for its own negligent action, its own negligent failure to act or
its own willful misconduct; provided, however, that:
(i) Prior to the occurrence of an Event of Default, and after the
curing of all such Events of Default which may have occurred, the duties
and obligations of the Trustee shall be determined solely by the express
provisions of this Agreement, the Trustee shall not be liable except for
the performance of such duties and obligations as are specifically set
forth in this Agreement, no implied covenants or obligations shall be read
into this Agreement against the Trustee and, in the absence of bad faith on
the part of the Trustee, the Trustee may conclusively rely, as to the truth
of the statements and the correctness of the opinions expressed therein,
upon any resolutions, certificates, statements or opinions, reports,
documents, orders or instruments furnished to the Trustee and conforming to
the requirements of this Agreement;
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(ii) The Trustee shall not be personally liable for an error of
judgment made in good faith by a Responsible Officer or other officers of
the Trustee, unless it shall be proved that the Trustee was negligent in
ascertaining the pertinent facts;
(iii) The Trustee shall not be personally liable with respect to any
action taken, suffered or omitted to be taken by it in good faith in
accordance with this Agreement or at the direction of the Certificate
Insurer, the Class 1A Majority Certificateholders and the Class 2A Majority
Certificateholders or any of them relating to the time, method and place of
conducting any proceeding for any remedy available to the Trustee, or
exercising or omitting to exercise any trust or power conferred upon the
Trustee, under this Agreement;
(iv) The Trustee shall not be required to take notice or be deemed to
have notice or knowledge of any default or Event of Default (except a
default or Event of Default set forth under Section 10.01(i)(A) or
10.01(i)(C)) unless a Responsible Officer of the Trustee shall have actual
knowledge thereof or have received written notice thereof. In the absence
of receipt of such notice, the Trustee may conclusively assume that there
is no default or Event of Default;
(v) The Trustee shall not be required to expend or risk its own funds
or otherwise incur financial liability for the performance of any of its
duties hereunder or the exercise of any of its rights or powers if there is
reasonable ground for believing that the repayment of such funds or
adequate indemnity against such risk or liability is not reasonably assured
to it and none of the provisions contained in this Agreement shall in any
event require the Trustee to perform, or be responsible for the manner of
performance of, any of the obligations of the Servicer under this Agreement
except during such time, if any, as the Trustee shall be the successor to,
and be vested with the rights, duties, powers and privileges of, the
Servicer in accordance with the terms of this Agreement;
(vi) Subject to any express requirement of this Agreement and until
such time as the Trustee shall be the successor to the Servicer and without
otherwise limiting the generality of this Section, the Trustee shall have
no duty (A) to see to any recording, filing, or depositing of this
Agreement or any agreement referred to herein or any financing statement or
continuation statement evidencing a security interest, or to see to the
maintenance of any such recording or filing or depositing or to any
rerecording, refiling or redepositing of any thereof, (B) to see to any
insurance, (C) to see to the payment or discharge of any tax, assessment,
or other governmental charge or any lien or encumbrance of any kind owing
with respect to, assessed or levied against, any part of the Trust Fund,
(D) to confirm or verify the contents of any reports or certificates of any
Servicer
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delivered to the Trustee pursuant to this Agreement believed by the Trustee
to be genuine and to have been signed or presented by the proper party or
parties; and
(vii) The Trustee shall not be deemed a fiduciary for the Certificate
Insurer in its capacity as such, except to the extent the Certificate
Insurer has made an Insured Payment and is thereby subrogated to the rights
of the Certificateholders with respect thereto.
Section 12.02 Certain Matters Affecting the Trustee.
(a) Except as otherwise provided in Section 12.01:
(i) The Trustee may rely and shall be protected in acting or
refraining from acting upon any resolution, Officers' Certificate, Opinion
of Counsel, certificate of auditors or any other certificate, statement,
instrument, opinion, report, notice, request, consent, order, appraisal,
bond or other paper or document believed by it to be genuine and to have
been signed or presented by the proper party or parties;
(ii) The Trustee may consult with counsel and any advice or opinion of
counsel shall be full and complete authorization and protection in respect
of any action taken or suffered or omitted by it hereunder in good faith
and in accordance with such advice or opinion of counsel;
(iii) The Trustee shall be under no obligation to exercise any of the
trusts or powers vested in it by this Agreement or to institute, conduct or
defend by litigation hereunder or in relation hereto at the request, order
or direction of the Certificate Insurer or any of the Certificateholders,
pursuant to the provisions of this Agreement, unless such
Certificateholders or the Certificate Insurer, as applicable, shall have
offered to the Trustee reasonable security or indemnity against the costs,
expenses and liabilities which may be incurred therein or thereby; except
in those cases in which the Trustee is required by the terms of this
Agreement to follow the direction of the Certificate Insurer, the Class 1A
Majority Certificateholders or the Class 2A Majority Certificateholders
nothing contained herein shall, however, relieve the Trustee of the
obligation, upon the occurrence of an Event of Default (which has not been
cured), to exercise such of the rights and powers vested in it by this
Agreement, and to use the same degree of care and skill in its exercise as
a prudent person would exercise or use under the circumstances in the
conduct of such person's own affairs;
(iv) The Trustee shall not be personally liable for any action taken,
suffered or omitted by it in good faith and believed by it to be authorized
or within the discretion or rights or powers conferred upon it by this
Agreement;
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(v) Prior to the occurrence of an Event of Default hereunder and after
the curing of all Events of Default which may have occurred, the Trustee
shall not be bound to make any investigation into the facts or matters
stated in any resolution, certificate, statement, instrument, opinion,
report, notice, request, consent, order, approval, bond or other paper or
document, unless requested in writing to do so by the Certificate Insurer,
the Class 1A Majority Certificateholders or the Class 2A Majority
Certificateholders; provided, however, that if the payment within a
reasonable time to the Trustee of the costs, expenses or liabilities likely
to be incurred by it in the making of such investigation is, in the opinion
of the Trustee, not reasonably assured to the Trustee by the security
afforded to it by the terms of this Agreement, the Trustee may require
reasonable indemnity against such cost, expense or liability as a condition
to taking any such action. The reasonable expense of every such examination
shall be paid by the Servicer or, if paid by the Trustee, shall be repaid
by the Servicer upon demand from such Servicer's own funds;
(vi) The right of the Trustee to perform any discretionary act
enumerated in this Agreement shall not be construed as a duty, and the
Trustee shall not be answerable for other than its negligence or willful
misconduct in the performance of such act;
(vii) The Trustee shall not be required to give any bond or surety in
respect of the execution of the Trust created hereby or the powers granted
hereunder; and
(viii) The Trustee may execute any of the trusts or powers hereunder
or perform any duties hereunder either directly or by or through agents or
attorneys.
(b) Following the Startup Day, the Trustee shall not knowingly accept any
contribution of assets to the Trust Fund REMIC, unless the Trustee shall have
received from the Depositor an Opinion of Counsel to the effect that the
inclusion of such assets in the Trust Fund REMIC will not cause the Trust Fund
REMIC to fail to qualify as a REMIC at any time that any of the Certificates are
outstanding or subject the Trust Fund REMIC to any tax under the REMIC
Provisions or other applicable provisions of federal, state and local law or
ordinances.
Section 12.03 Trustee Not Liable for Certificates or Mortgage Loans.
The recitals contained herein and in the Certificates (other than the
certificate of authentication on the Certificates) shall be taken as the
statements of the Depositor, and the Trustee assumes no responsibility for their
correctness. The Trustee makes no representations as to the validity or
sufficiency of this Agreement or of the Certificates or of any Mortgage Loan or
related document (including any document comprising a part of the Mortgage
File). The Trustee shall not be accountable for the use or application by the
Depositor of any of the Certificates or of the proceeds of such Certificates, or
for the use or application of any funds paid to the Servicer in respect of the
Mortgage Loans or deposited in or withdrawn by any
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Servicer from the Principal and Interest Accounts. The Trustee shall not be
responsible for the legality or validity of the Agreement or the validity,
priority, perfection or sufficiency of the security for the Certificates issued
or intended to be issued hereunder. The Trustee shall have no responsibility for
filing any financing or continuation statement in any public office at any time
or to otherwise perfect or maintain the perfection of any security interest or
lien granted to it hereunder (unless the Trustee shall have become the successor
to the Servicer) or to prepare or file any Securities and Exchange Commission
filing for the Trust Fund or to record this Agreement.
Section 12.04 Trustee May Own Certificates.
The Trustee in its individual or any other capacity may become the owner or
pledgee of Certificates with the same rights it would have if it were not
Trustee, and may otherwise deal with the parties hereto.
Section 12.05 Servicer to Pay Trustee's Fees and Expenses.
The Servicer and the Depositor, jointly and severally, covenant and agree
to pay to the Trustee annually, from amounts on deposit in the Trustee Expense
Accounts, and the Trustee shall be entitled to, reasonable compensation (which
shall not be limited by any provision of law in regard to the compensation of a
trustee of an express trust) for all routine services rendered by it in the
execution of the trusts hereby created and in the exercise and performance of
any of the powers and routine duties hereunder of the Trustee, and the Servicer
and the Depositor will pay or reimburse the Trustee upon its request for all
reasonable expenses, disbursements and advances incurred or made by the Trustee
in accordance with any of the provisions of this Agreement (including the
reasonable compensation and the expenses and disbursements of its counsel and of
all persons not regularly in its employ) except any such expense, disbursement
or advance as may arise from its negligence or bad faith, provided that the
Trustee shall have no lien on the Trust Fund, other than the Trustee Expense
Accounts, for the payment of its fees and expenses. To the extent that actual
fees and expenses of the Trustee exceed the Annual Trustee Expense Amounts, the
Servicer and/or the Depositor shall reimburse the Trustee for such shortfall out
of its own funds without reimbursement therefor, except as provided in Section
6.03. The Trustee and any director, officer, employee or agent of the Trustee
shall be indemnified, jointly and severally, by the Servicer and the Depositor
and held harmless against any loss, liability or expense (including legal fees
and expenses) (i) incurred in connection with any legal action relating to this
Agreement, the Prospectus or the Certificates, other than any loss, liability or
expense incurred by reason of willful misfeasance, bad faith or negligence in
the performance of duties hereunder, and (ii) resulting from any error in any
tax or information return prepared by the Servicer. The obligations of the
Servicer and the Depositor under this Section 12.05 shall survive termination of
the initial Servicer and payment of the Certificates with respect to any
Sub-Pool, and shall extend to any co-trustee or separate-trustee appointed
pursuant to this Article XII.
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Section 12.06 Eligibility Requirements for Trustee.
The Trustee hereunder shall at all times be (i) a bank organized and doing
business under the laws of any state or the United States of America, (ii)
authorized under such laws to exercise corporate trust powers, including taking
title to the Trust Fund assets on behalf of the Certificateholders, (iii) having
a combined capital and surplus of at least $50,000,000, (iv) whose long-term
deposits shall be rated at least "BBB" by S&P and Baa2 by Moody's (except as
provided herein) or such lower long-term deposit rating by S&P as may be
approved in writing by the Certificate Insurer and S&P or the Certificate
Insurer and Moody's, as the case may be (v) is subject to supervision or
examination by federal or state authority and (vi) is reasonably acceptable to
the Certificate Insurer as evidenced in writing. If such bank publishes reports
of condition at least annually, pursuant to law or to the requirements of the
aforesaid supervising or examining authority, then for the purposes of this
Section 12.06, the combined capital and surplus of such bank shall be deemed to
be its combined capital and surplus as set forth in its most recent report of
condition so published. In case at any time the Trustee shall cease to be
eligible in accordance with the provisions of this Section 12.06, the Trustee
shall resign immediately in the manner and with the effect specified in Section
12.07 hereof.
Section 12.07 Resignation and Removal of the Trustee.
The Trustee may at any time resign and be discharged from the trusts hereby
created by giving written notice thereof to the Servicer, the Rating Agencies
and the Certificate Insurer, not less than 60 days before the date specified in
such notice when such resignation is to take effect. Upon receiving such notice
of resignation, the Servicer shall promptly appoint a successor trustee which
satisfies the eligibility requirements of Section 12.06 by written instrument,
in duplicate, which instrument shall be delivered to the resigning Trustee and
to the successor trustee. A copy of such instrument shall be delivered to the
Certificateholders and the Certificate Insurer by the Servicer. Unless a
successor trustee shall have been so appointed and have accepted appointment
within 60 days after the giving of such notice of resignation, the resigning
Trustee may petition any court of competent jurisdiction for the appointment of
a successor trustee.
If at any time the Trustee shall cease to be eligible in accordance with
the provisions of Section 12.06 and shall fail to resign after written request
therefor by any Servicer, or the Certificate Insurer, or if at any time the
Trustee shall become incapable of acting, or shall be adjudged bankrupt or
insolvent, or a receiver of the Trustee or of its property shall be appointed,
or any public officer shall take charge or control of the Trustee or of its
property or affairs for the purpose of rehabilitation, conservation or
liquidation, then the Servicer or the Certificate Insurer may remove the Trustee
and the Servicer shall, within 30 days after such removal, appoint, subject to
the approval of the Certificate Insurer, which approval shall not be
unreasonably withheld, a successor trustee which satisfies the eligibility
requirements of Section 12.06 by written instrument, in duplicate, which
instrument shall be delivered to the Trustee so removed and to the successor
trustee. A copy of such instrument shall be delivered to the Certificateholders,
each Rating Agency and the Certificate Insurer by the successor trustee.
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If the Trustee fails to perform in accordance with the terms of this
Agreement, the Class 1A Majority Certificateholders and the Class 2A Majority
Certificateholders or the Certificate Insurer may remove the Trustee and appoint
a successor trustee by written instrument or instruments, in triplicate, signed
by such Holders or their attorneys-in-fact duly authorized, one complete set of
which instruments shall be delivered to the Servicer, one complete set to the
Trustee so removed and one complete set to the successor Trustee so appointed. A
copy of such instrument shall be delivered to the Certificate Insurer by the
Servicer.
The Depositor may, in its discretion, remove the Trustee with the consent
of the Certificate Insurer, which consent shall not be unreasonably withheld,
without cause. The Servicer shall, within 30 days after such removal, appoint,
subject to the approval of the Certificate Insurer, which approval shall not be
unreasonably withheld, a successor trustee which satisfies the eligibility
requirements of Section 12.06 by written instrument, in duplicate, which
instrument shall be delivered to the Trustee so removed and to the successor
trustee. A copy of such instrument shall be delivered to the Certificateholders,
each Rating Agency and the Certificate Insurer by the successor trustee.
Any resignation or removal of the Trustee and appointment of a successor
trustee pursuant to any of the provisions of this Section shall become effective
upon acceptance of appointment by the successor trustee which satisfies the
eligibility requirements of Section 12.06 as provided in Section 12.08.
Section 12.08 Successor Trustee.
Any successor trustee appointed as provided in Section 12.07 shall execute,
acknowledge and deliver to the Servicer and to its predecessor trustee an
instrument accepting such appointment hereunder, and thereupon the resignation
or removal of the predecessor trustee shall become effective and such successor
trustee, without any further act, deed or conveyance, shall become fully vested
with all the rights, powers, duties and obligations of its predecessor
hereunder, with the like effect as if originally named as trustee herein. The
predecessor trustee shall, to the extent necessary, deliver to the successor
trustee, or Custodian, if any, all Mortgage Files and related documents and
statements held by it hereunder, and the Servicer and the predecessor trustee
shall execute and deliver such instruments and do such other things as may
reasonably be required for more fully and certainly vesting and confirming in
the successor trustee all such rights, powers, duties and obligations.
No successor trustee shall accept appointment as provided in this Section
12.08 unless at the time of such acceptance such successor trustee shall be
eligible under the provisions of Section 12.06 and its appointment shall not
adversely affect the then current rating of the Certificates.
Upon acceptance of appointment by a successor trustee as provided in this
Section 12.08, the Servicer shall mail notice of the succession of such trustee
hereunder to all Holders of Certificates at their addresses as shown in the
Certificate Register. If the Servicer fails to
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mail such notice within 10 days after acceptance of appointment by the successor
trustee, the successor trustee shall cause such notice to be mailed at the
expense of the Servicer.
Section 12.09 Merger or Consolidation of Trustee.
Any Person into which the Trustee may be merged or converted or with which
it may be consolidated or any corporation or banking association resulting from
any merger, conversion or consolidation to which the Trustee shall be a party,
or any corporation or bank succeeding to all or substantially all of the
corporate trust business of the Trustee, shall be the successor of the Trustee
hereunder, provided such corporation or bank shall be eligible under the
provisions of Section 12.06, without the execution or filing of any paper or any
further act on the part of any of the parties hereto, anything herein to the
contrary notwithstanding.
Section 12.10 Appointment of Co-Trustee or Separate Trustee.
Notwithstanding any other provisions hereof, at any time, for the purpose
of meeting any legal requirements of any jurisdiction in which any part of the
Trust Fund or property securing the same may at the time be located, the
Servicer and the Trustee acting jointly shall have the power and shall execute
and deliver all instruments to appoint one or more Persons approved by the
Trustee to act as co-trustee or co-trustees, jointly with the Trustee, or
separate trustee or separate trustees, of all or any part of the Trust Fund, and
to vest in such Person or Persons, in such capacity, such title to the Trust
Fund, or any part thereof, and, subject to the other provisions of this Section
12.10, such powers, duties, obligations, rights and trusts as the Servicer and
the Trustee may consider necessary or desirable. Any such co-trustee or separate
trustee shall be approved by the Certificate Insurer. If the Servicer shall not
have joined in such appointment within 15 days after the receipt by it of a
request so to do, or in case an Event of Default shall have occurred and be
continuing, the Trustee alone shall have the power to make such appointment. No
co-trustee or separate trustee hereunder shall be required to meet the terms of
eligibility as a successor trustee under Section 12.06 and no notice to Holders
of Certificates of the appointment of co-trustee(s) or separate trustee(s) shall
be required under Section 12.08.
In the case of any appointment of a co-trustee or separate trustee pursuant
to this Section 12.10, all rights, powers, duties and obligations conferred or
imposed upon the Trustee shall be conferred or imposed upon and exercised or
performed by the Trustee and such separate trustee or co-trustee jointly, except
to the extent that under any law of any jurisdiction in which any particular act
or acts are to be performed (whether as Trustee hereunder or as successor to the
Servicer hereunder), the Trustee shall be incompetent or unqualified to perform
such act or acts, in which event such rights, powers, duties and obligations
(including the holding of title to the Trust Fund or any portion thereof in any
such jurisdiction) shall be exercised and performed by such separate trustee or
co-trustee at the direction of the Trustee.
Any notice, request or other writing given to the Trustee shall be deemed
to have been given to each of the then separate trustees and co-trustees, as
effectively as if given to each
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of them. Every instrument appointing any separate trustee or co-trustee shall
refer to this Agreement and the conditions of this Article XII. Each separate
trustee and co-trustee, upon its acceptance of the trusts conferred, shall be
vested with the estates or property specified in its instrument of appointment,
either jointly with the Trustee or separately, as may be provided therein,
subject to all the provisions of this Agreement, specifically including every
provision of this Agreement relating to the conduct of, affecting the liability
of, or affording protection to, the Trustee. Every such instrument shall be
filed with the Trustee, and a copy thereof shall be forwarded by the Trustee to
the Certificate Insurer.
Any separate trustee or co-trustee may, at any time, constitute the
Trustee, its agent or attorney-in-fact, with full power and authority, to the
extent not prohibited by law, to do any lawful act under or in respect of this
Agreement on its behalf and in its name. The Trustee shall not be responsible
for any action or inaction of any such separate trustee or co-trustee. If any
separate trustee or co-trustee shall die, become incapable of acting, resign or
be removed, all of its estates, properties, rights, remedies and trusts shall
vest in and be exercised by the Trustee, to the extent permitted by law, without
the appointment of a new or successor trustee.
Section 12.11 Tax Returns.
The Trustee, upon request, will promptly furnish the Servicer with all such
information as may reasonably be required in connection with the Servicer's
preparation of all Tax Returns of the Trust Fund REMIC or for the purpose of the
Servicer's responding to reasonable requests for information made by
Certificateholders in connection with tax matters and, within five (5) Business
Days of a request therefor, shall (i) sign on behalf of the Trust Fund REMIC any
Tax Return that the Trustee is required to sign pursuant to applicable federal,
state or local tax laws, and (ii) cause such Tax Return to be returned in a
timely manner to the Servicer for distribution to Certificateholders or filed
with a government authority if required.
Section 12.12 Appointment of Custodians.
The Trustee may, with the consent of the Servicer and the Certificate
Insurer, appoint one or more Custodians to hold all or a portion of the
Trustee's Mortgage Files as agent for the Trustee, by entering into a Custodial
Agreement. Subject to this Article XII, the Trustee agrees to comply with the
terms of each Custodial Agreement and to enforce the terms and provisions
thereof against the Custodian for the benefit of the Certificateholders and the
Certificate Insurer. Each Custodian shall be a depository institution subject to
supervision by federal or state authority and shall be qualified to do business
in the jurisdiction in which it holds any Trustee's Mortgage File. Each
Custodial Agreement may be amended only as provided in Section 14.02.
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Section 12.13 Trustee May Enforce Claims Without Possession of
Certificates.
All rights of action and claims under this Agreement or the Certificates
may be prosecuted and enforced by the Trustee without the possession of any of
the Certificates or the production thereof in any proceeding relating thereto,
any such proceeding instituted by the Trustee shall be brought in its own name
or in its capacity as Trustee. Any recovery of judgment shall, after provision
for the payment of the reasonable compensation, expenses, disbursements and
advances of the Trustee, its agents and counsel, be for the ratable benefit of
the Certificateholders in respect of which such judgment has been recovered.
Section 12.14 Suits for Enforcement.
In case an Event of Default or other default by the Servicer hereunder
shall occur and be continuing, the Trustee, in its discretion, but subject to
Section 10.01, may proceed to protect and enforce its rights and the rights of
the Certificateholders under this Agreement by a suit, action or proceeding in
equity or at law or otherwise, whether for the specific performance of any
covenant or agreement contained in this Agreement or in aid of the execution of
any power granted in this Agreement or for the enforcement of any other legal,
equitable or other remedy, as the Trustee, being advised by counsel, shall deem
most effectual to protect and enforce any of the rights of the Trustee or the
Certificateholders.
Section 12.15 Control of Remedies by Certificate Insurer and
Certificateholders.
Notwithstanding anything herein to the contrary, the Certificate Insurer or
the Class 1A and Class 2A Majority Certificateholders, with the consent of the
Certificate Insurer, may direct the time, method and place of conducting any
proceeding relating to the Trust Fund or the Certificates or for any remedy
available to the Trustee with respect to the Certificates or exercising any
trust or power conferred on the Trustee with respect to the Certificates or the
Trust Fund; provided, that:
(i) such direction shall not be unlawful or in conflict with this
Agreement;
(ii) the Trustee shall have been provided with indemnity satisfactory
to it;
(iii) the Trustee may take any other action deemed proper by the
Trustee which is not inconsistent with such direction; and
(iv) that the Trustee need not take any action which it determines
might involve it in liability or may be unjustly prejudicial to the Holders
not so directing.
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ARTICLE XIII
REMIC PROVISIONS
Section 13.01 REMIC Administration.
(a) The Servicer shall make an election to treat the Trust Fund REMIC as a
REMIC under the Code and, if necessary, under applicable state law. Such
elections will be made on Form 1066 or other appropriate federal tax or
information return or any appropriate state return for the taxable year ending
on the last day of the calendar year in which the Certificates are issued. For
the purposes of the REMIC election in respect of the Trust Fund REMIC, the Class
1A-1, Class 1A-2, Class 1A-3, Class 1A-4, Class 1A-5, Class 1A-6 and Class 2A
Certificates (exclusive of the right to receive Supplemental Interest) shall be
designated as the "regular interests" and the Class R Certificates shall be
designated as the sole class of "residual interests" in the Trust Fund REMIC.
The Servicer shall not permit the creation of any "interests" in the Trust Fund
REMIC (within the meaning of Section 860G of the Code) other the than interests
represented by the Certificates.
(b) The Closing Date is hereby designated as the "Startup Day" of the Trust
Fund REMIC within the meaning of Section 860G(a)(9) of the Code.
(c) The Servicer shall hold the Tax Matters Person Residual Interest
Certificate representing a 0.01% Percentage Interest of the Class R Certificates
and is designated as the Tax Matters Person of the Trust Fund REMIC, as provided
under Treasury regulations Section 1.860F-4(d) and temporary Treasury
regulations Section 301.6231(a)(7)-1T. The Servicer, as Tax Matters Person,
shall (i) act on behalf of the Trust Fund REMIC, in relation to any tax matter
or controversy involving such REMIC and (ii) represent the Trust Fund REMIC in
any administrative or judicial proceeding relating to an examination or audit by
any governmental taxing authority with respect thereto. To the extent authorized
under the Code and the regulations promulgated thereunder, each Holder of a
Class R Certificate hereby irrevocably appoints and authorizes the Servicer to
be its attorney-in-fact for purposes of signing any Tax Returns required to be
filed on behalf of the Trust Fund REMIC. The legal expenses and costs of any
such action described in this subsection and any liability resulting therefrom
shall constitute Servicing Advances and the Servicer shall be entitled to
reimbursement therefor unless such legal expenses and costs are incurred by
reason of the Servicer's willful misfeasance, bad faith or gross negligence.
(d) The Servicer shall prepare or cause to be prepared all of the Tax
Returns in respect of the Trust Fund REMIC created hereunder and deliver such
Tax Returns to the Trustee for signing and the Trustee shall sign and promptly
return to the Servicer for filing such Tax Returns in order that the Servicer
may file such Tax Returns in a timely manner. The expenses of preparing and
filing such returns shall be borne by the Servicer without any right of
reimbursement therefor.
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(e) The Servicer shall perform on behalf of the Trust Fund all reporting
and other tax compliance duties that are the responsibility of the Trust Fund
under the Code, REMIC Provisions or other compliance guidance issued by the
Internal Revenue Service or any state or local taxing authority. Among its other
duties, as required by the Code, the REMIC Provisions or other such compliance
guidance, the Servicer shall provide (i) to any Transferor of a Class R
Certificate such information as is necessary for the application of any tax
relating to the transfer of a Class R Certificate to any Person who is not a
Permitted Transferee, (ii) to Certificateholders such information or reports as
are required by the Code or the REMIC Provisions including reports relating to
interest, original issue discount and market discount or premium (using the
Prepayment Assumption) and (iii) to the Internal Revenue Service the name,
title, address and telephone number of the person who will serve as the
representative of the Trust Fund.
(f) To the extent that the affairs of the Trust Fund are within its control
and the scope of its specific responsibilities under this Agreement, the
Servicer shall take such action and shall cause the Trust Fund REMIC created
under this Agreement to take such action as shall be reasonably necessary to
create or maintain the status thereof as a REMIC under the REMIC Provisions (and
the Trustee shall assist it, to the extent reasonably requested by it). The
Servicer shall not knowingly or intentionally take any action, cause the Trust
Fund REMIC to take any action or fail to take (or fail to cause to be taken) any
action that, under the REMIC Provisions, if taken or not taken, as the case may
be, could (i) endanger the status of the Trust Fund REMIC as a REMIC or (ii)
result in the imposition of a tax upon the Trust Fund REMIC (including but not
limited to the tax on prohibited transactions as defined in Section 860F(a)(2)
of the Code and the tax on contributions to a REMIC set forth in Section 860G(d)
of the Code) (either such event, an "Adverse REMIC Event") unless the Servicer
has received an Opinion of Counsel to the effect that the contemplated action
will not, with respect to the Trust Fund REMIC created hereunder, endanger such
status or result in the imposition of such a tax. If the Servicer has delivered
to the Trustee an Opinion of Counsel indicating that an action or omission of
the Trustee not otherwise required hereby may result in an Adverse REMIC Event,
the Trustee shall not take such action, or omit taking such action, as the case
may be. In addition, prior to taking any action with respect to the Trust Fund
REMIC or its assets, or causing the Trust Fund REMIC to take any action, which
is not expressly permitted under the terms of this Agreement, the Trustee shall
consult with the Servicer or its designee with respect to whether such action
may cause an Adverse REMIC Event and the Trustee shall not take any such action
or cause the Trust Fund REMIC to take any such action as to which the Servicer
has advised it in writing that an Adverse REMIC Event may occur. If the Trustee
so consults with the Servicer and the Servicer fails to respond within three
Business Days, the Trustee may take such action, provided that such action would
not otherwise constitute a breach of this Agreement. The Servicer may consult
with counsel as to the rendering of such written advice, and the cost of such
consultation and the production of any Opinions of Counsel, or written advice,
shall be borne by the party seeking to take the action not otherwise permitted
by this Agreement; provided, however that in no event shall the Trustee be
liable or responsible for such costs. The Trustee may conclusively presume that
any action taken or omitted at the written direction or request of the Servicer
will not result in an Adverse REMIC Event, and the Trustee shall not
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be liable or responsible for any Adverse REMIC Event arising out of or resulting
from any such action or omission.
(g) In the event that any tax is imposed on "prohibited transactions" of
the Trust Fund REMIC created hereunder as defined in Section 860F(a)(2) of the
Code, on "net income from foreclosure property" of the Trust Fund REMIC, as
defined in Section 860G(c) of the Code, on any contributions to the Trust Fund
REMIC after the Startup Day pursuant to Section 860G(d) of the Code, or any
other tax is imposed by the Code or any applicable provisions of state or local
tax laws, such tax shall be charged (i) against the party the actions of which
gave rise to such taxes and (ii) otherwise against amounts on deposit in the
related Certificate Account and shall be paid by withdrawal therefrom.
(h) On or before April 15 of each calendar year, commencing April 15, 1997,
the Servicer shall deliver to the Trustee a Certificate from a Responsible
Officer of the Servicer stating the Servicer's compliance with this Article
XIII.
(i) The Trustee and the Servicer shall, for federal income tax purposes,
maintain books and records with respect to the Trust Fund REMIC on a calendar
year and on an accrual basis, to the extent such books and records are
maintained pursuant to this Agreement.
(j) After the 90-day period commencing on the Startup Day, the Servicer
shall not accept any contributions of assets to the Trust Fund REMIC, unless it
shall have received an Opinion of Counsel to the effect that the inclusion of
such assets in the Trust Fund will not cause the Trust Fund REMIC to fail to
qualify as a REMIC at any time that any Certificates are outstanding or subject
the Trust Fund REMIC to any tax under the REMIC Provisions or other applicable
provisions of federal, state and local law or ordinances.
(k) Neither the Servicer nor the Trustee shall enter into any arrangement
by which the Trust Fund REMIC will receive a fee or other compensation for
services nor permit the Trust Fund REMIC to receive any income from assets other
than "qualified mortgages" as defined in Section 860G(a)(3) of the Code or
"permitted investments" as defined in Section 860G(a)(5) of the Code.
(l) Solely for purposes of Section 1.860G-1(a)(4)(iii) of the Treasury
regulations, the "latest possible maturity date" of the Class A Certificates and
the date by which the Class 1A Principal Balance and the Class 2A Principal
Balance would be reduced to zero is February 25, 2027 which is the Remittance
Date immediately following the latest scheduled maturity of any Mortgage Loan.
(m) Upon any termination of, or appointment of any successor to, the
Servicer with respect to the last Sub-Pool covered under this Agreement
hereunder, the Servicer shall promptly, upon the request of the Trustee,
transfer all of the related Tax Matters Person Residual Interest Certificates to
the successor Servicer. If a successor Servicer has not been appointed by the
Trustee, the Servicer shall promptly, upon the request of the Trustee, transfer
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all of the related Tax Matters Person Residual Interest Certificates to the
Depositor who shall serve as the related Tax Matters Person until such time as
the Trustee appoints a successor Servicer. Any entity appointed by the Trustee
as successor Servicer shall agree to hold the related Tax Matters Person
Residual Interest Certificates as a condition to its appointment as Servicer.
(n) All expenses incurred by the Servicer in performing its duties under
this Article XIII (other than as provided in Section 13.01(d) and expenses for
salaries of its own employees and overhead) shall constitute Servicing Advances
under this Agreement.
Section 13.02 Prohibited Transactions and Activities.
Neither the Depositor, the Trustee nor the Servicer shall sell, dispose of
or substitute for any of the Mortgage Loans (except in connection with (i) the
foreclosure of a Mortgage Loan, including but not limited to, the acquisition or
sale of a Mortgaged Property acquired by deed in lieu of foreclosure, (ii) the
bankruptcy of the Trust Fund, (iii) the termination of the Trust Fund REMIC
pursuant to Article XI or (iv) a purchase of Mortgage Loans pursuant to Articles
II or III), nor acquire any assets for the Trust Fund, nor sell or dispose of
any investments in the Certificate Account for gain, nor accept any
contributions to the Trust Fund REMIC after the Closing Date unless it has
received an Opinion of Counsel (at the expense of the party seeking to cause
such sale, disposition, substitution or acquisition) indicating that such sale,
disposition, substitution or acquisition will not (a) affect adversely the
status of the Trust Fund REMIC as a REMIC or (b) cause the Trust Fund REMIC to
be subject to a tax on "prohibited transactions" or "contributions" pursuant to
the REMIC Provisions.
Section 13.03 Servicer and Trustee Indemnification.
(a) The Trustee agrees to indemnify the Trust Fund, the Depositor and the
Servicer for any taxes and costs including, without limitation, any reasonable
attorneys' fees imposed on or incurred by the Trust Fund, the Depositor or the
Servicer, as a result of a breach of the Trustee's covenants set forth in
Article XII or this Article XIII.
(b) The Servicer agrees to indemnify the Trust Fund, the Depositor and the
Trustee for any taxes and costs including, without limitation, any reasonable
attorneys' fees imposed on or incurred by the Trust Fund, the Depositor or the
Trustee, as a result of a breach of the Servicer's covenants set forth in
Articles V, VII, IX or this Article XIII with respect to compliance with the
REMIC Provisions, including without limitation, any penalties arising from the
Trustee's execution of Tax Returns prepared by the Servicer that contain
material errors or omissions.
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ARTICLE XIV
MISCELLANEOUS PROVISIONS
Section 14.01 Acts of Certificateholders.
Except as otherwise specifically provided herein, whenever
Certificateholder action, consent or approval is required under this Agreement,
such action, consent or approval shall be deemed to have been taken or given on
behalf of, and shall be binding upon, all Certificateholders with respect to a
Sub-Pool if the Majority Certificateholders of the related Sub-Pool agree to
take such action or give such consent or approval.
Section 14.02 Amendment.
(a) This Agreement may be amended from time to time by the Depositor, the
Trustee and the Servicer by written agreement upon the prior written consent of
the Certificate Insurer, without notice to or consent of the Certificateholders,
to cure any error or ambiguity, to correct or supplement any provisions herein
which may be inconsistent with any other provisions hereof, to evidence any
succession to the Servicer, to comply with any changes in the Code, to amend
this Agreement to modify, eliminate or add to any of its provisions to such
extent as shall be necessary or appropriate to maintain the qualification of the
Trust Fund REMIC as a REMIC under the Code or to make any other provisions with
respect to matters or questions arising under this Agreement which shall not be
inconsistent with the provisions of this Agreement, or any Custodial Agreement;
provided, however, that such action shall not, as evidenced by an Opinion of
Counsel, at the expense of the party requesting the change, delivered to the
Trustee, adversely affect in any material respect the interests of any
Certificateholder; and provided further, that no such amendment shall reduce in
any manner the amount of, or delay the timing of, payments received on Mortgage
Loans which are required to be distributed on any Certificate without the
consent of the Holder of such Certificate, or change the rights or obligations
of any other party hereto without the consent of such party. The Trustee shall
give prompt written notice to the Rating Agencies of any amendment made pursuant
to this Section 14.02.
(b) This Agreement may be amended from time to time by the Depositor, the
Trustee and the Servicer and with the consent of the Certificate Insurer and (i)
the Class 1A Majority Certificateholders in the case of an amendment affecting
the Class 1A Certificates and (ii) the Class 2A Majority Certificateholders in
the case of an amendment affecting the Class 2A Certificates; provided, however,
that no such amendment shall be made unless the Trustee receives an Opinion of
Counsel, at the expense of the party requesting the change, that such change
will not adversely affect the status of the Trust Fund REMIC as a REMIC or cause
a tax to be imposed on the Trust Fund REMIC, and provided further, that no such
amendment shall reduce in any manner the amount of, or delay the timing of,
payments received on Mortgage Loans which are required to be distributed on any
Certificate without the consent of the Holder of such Certificate or reduce the
percentage for each Class the Holders of which are required
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to consent to any such amendment without the consent of the Holders of 100% of
each Class of Certificates affected thereby.
(c) It shall not be necessary for the consent of Holders under this Section
to approve the particular form of any proposed amendment, but it shall be
sufficient if such consent shall approve the substance thereof. The manner of
obtaining such consents and of evidencing the authorization of the execution
thereof by Certificateholders shall be subject to such reasonable requirements
as the Trustee may prescribe.
Prior to the execution of any amendment to this Agreement, the Trustee
shall be entitled to receive and rely upon an Opinion of Counsel stating that
the execution of such amendment is authorized or permitted by this Agreement.
The Trustee may, but shall not be obligated to, enter into any such amendment
which affects the Trustee's own rights, duties or immunities under this
Agreement.
In connection with the solicitation of consents of Certificateholders
pursuant to this Section 14.02, upon written request of the Depositor, the
Trustee shall provide written copies of the current Certificate Register to the
Depositor.
Section 14.03 Recordation of Agreement.
To the extent permitted by applicable law, this Agreement, or a memorandum
thereof if permitted under applicable law, is subject to recordation in all
appropriate public offices for real property records in all of the counties or
other comparable jurisdictions in which any or all of the properties subject to
the Mortgages are situated, and in any other appropriate public recording office
or elsewhere, such recordation to be effected by the Servicer at the
Certificateholders' expense on direction of the Majority Certificateholders of
both Sub-Pools, but only when accompanied by an Opinion of Counsel to the effect
that such recordation materially and beneficially affects the interests of the
Certificateholders or is necessary for the administration or servicing of the
Mortgage Loans.
Section 14.04 Duration of Agreement.
This Agreement shall continue in existence and effect until terminated as
herein provided.
Section 14.05 Governing Law.
This Agreement shall be construed in accordance with the laws of the State
of New York and the obligations, rights and remedies of the parties hereunder
shall be determined in accordance with such laws, without giving effect to
principles of conflicts of law.
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Section 14.06 Notices.
(a) All demands, notices and communications hereunder shall be in writing
and shall be deemed to have been duly given if personally delivered at or mailed
by overnight mail, certified mail or registered mail, postage prepaid, to (i) in
the case of Superior Bank, as Depositor, One Lincoln Centre, Oakbrook Terrace,
Illinois 60181, Attention: William C. Bracken, or such other addresses as may
hereafter be furnished to the Certificateholders in writing by the Depositor,
(ii) in the case of Lee Servicing Company, a division of Superior Bank FSB, as
Servicer, One Lincoln Centre, Oakbrook Terrace, Illinois 60181, Attention:
William C. Bracken, or such other addresses as may hereafter be furnished to the
Certificateholders in writing by the Servicer, (iii) in the case of the Trustee,
LaSalle National Bank, 135 S. LaSalle Street, Suite 1740, Chicago, Illinois
60674-4107, Attention: Asset-Backed Securities Trust Services Department - AFC
1996-3, (iv) in the case of the Certificateholders, as set forth in the
Certificate Register, (v) in the case of Moody's, 99 Church Street, New York,
New York 10007 Attention: Home Equity Loan Monitoring Group, (vi) in the case of
S&P, 26 Broadway, 15th Floor, New York, New York 10004 Attention: Residential
Mortgage Surveillance Group, and (vii) in the case of the Certificate Insurer,
Financial Guaranty Insurance Company, 115 Broadway, New York, New York 10006,
Attention: Group Leader -- Research and Risk Management. Any such notices shall
be deemed to be effective with respect to any party hereto upon the receipt of
such notice by such party, except that notices to the Certificateholders shall
be effective upon mailing or personal delivery.
(b) The Trustee shall use its best efforts to promptly provide notice to
each Rating Agency with respect to each of the following of which it has actual
knowledge:
1. Any material change or amendment to this Agreement;
2. The occurrence of any Event of Default that has not been cured;
3. The resignation or termination of the Servicer or the Trustee and
the appointment of any successor;
4. The repurchase or substitution of Mortgage Loans; and
5. The final payment to Certificateholders.
In addition, the Trustee shall promptly furnish to each Rating Agency
copies of the following:
1. Each report to Certificateholders described in Section 6.08;
2. Each annual statement as to compliance described in Section 7.04;
and
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3. Each annual independent public accountants' servicing report
described in Section 7.05.
Section 14.07 Severability of Provisions.
If any one or more of the covenants, agreements, provisions or terms of
this Agreement shall be held invalid for any reason whatsoever, then such
covenants, agreements, provisions or terms shall be deemed severable from the
remaining covenants, agreements, provisions or terms of this Agreement and shall
in no way affect the validity or enforceability of the other covenants,
agreements, provisions or terms of this Agreement.
Section 14.08 No Partnership.
Nothing herein contained shall be deemed or construed to create a
co-partnership or joint venture between the parties hereto and the services of
the Servicer shall be rendered as an independent contractor and not as agent for
the Certificateholders.
Section 14.09 Counterparts.
This Agreement may be executed in one or more counterparts and by the
different parties hereto on separate counterparts, each of which, when so
executed, shall be deemed to be an original; such counterparts, together, shall
constitute one and the same agreement.
Section 14.10 Successors and Assigns.
This Agreement shall inure to the benefit of and be binding upon the
Servicer, the Depositor, the Trustee and the Certificateholders and their
respective successors and assigns.
Section 14.11 Headings.
The headings of the various sections of this Agreement have been inserted
for convenience of reference only and shall not be deemed to be part of this
Agreement.
Section 14.12 The Certificate Insurer.
The Certificate Insurer shall be a third-party beneficiary of this
Agreement, entitled to enforce any provisions hereof as if a party hereto. Any
right conferred to the Certificate Insurer with respect to a Sub-Pool shall be
suspended during any period in which the Certificate Insurer is in default in
its payment obligations under the Certificate Insurance Policy. At such time as
the Certificates with respect to a Sub-Pool are no longer outstanding hereunder,
and no amounts owed to the Certificate Insurer hereunder with respect to such
Sub-Pool remain unpaid, the Certificate Insurer's rights hereunder with respect
to such Sub-Pool shall terminate.
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Section 14.13 Paying Agent.
The Trustee hereby accepts appointment as Paying Agent. The Trustee may,
subject to the eligibility requirements for the Trustee set forth in Section
12.06, other than Section 12.06(iv), appoint one or more other Paying Agents or
successor Paying Agents.
Each Paying Agent, immediately upon such appointment, shall signify its
acceptance of the duties and obligations imposed upon it by this Agreement by
written instrument of acceptance deposited with the Trustee with a copy being
sent to the Certificate Insurer.
Each such Paying Agent other than the Trustee shall execute and deliver to
the Trustee an instrument in which such Paying Agent shall agree with the
Trustee, subject to the provisions of Section 6.06, that such Paying Agent will:
(1) allocate all sums received for distribution to the Holders of
Certificates of each Class for which it is acting as Paying Agent
on each Remittance Date among such Holders in the proportion
specified by the Trustee; and
(2) hold all sums held by it for the distribution of amounts due with
respect to the Certificates in trust for the benefit of the
Holders entitled thereto until such sums shall be paid to such
Holders or otherwise disposed of as herein provided and pay such
sums to such Persons as herein provided.
Any Paying Agent other than the Trustee may at any time resign and be
discharged of the duties and obligations created by this Agreement by giving at
least sixty (60) days written notice to the Trustee. Any such Paying Agent may
be removed at any time by an instrument filed with such Paying Agent signed by
the Trustee.
In the event of the resignation or removal of any Paying Agent other than
the Trustee such Paying Agent shall pay over, assign and deliver any moneys held
by it as Paying Agent to its successor, or if there be no successor, to the
Trustee.
Upon the appointment, removal or notice of resignation of any Paying Agent,
the Trustee shall notify the Certificate Insurer and the Certificateholders by
mailing notice thereof to their addresses appearing on the Certificate Register.
Section 14.14 Actions of Certificateholders.
(a) Any request, demand, authorization, direction, notice, consent, waiver
or other action provided by this Agreement to be given or taken by
Certificateholders may be embodied in and evidenced by one or more instruments
of substantially similar tenor signed by such Certificateholders in person or by
agent duly appointed in writing; and except as herein otherwise expressly
provided, such action shall become effective when such instrument or
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instruments are delivered to the Trustee and, where required, to the Depositor
or the Servicer. Proof of execution of any such instrument or of a writing
appointing any such agent shall be sufficient for any purpose of this Agreement
and conclusive in favor of the Trustee, the Depositor and the Servicer, if made
in the manner provided in this Section.
(b) The fact and date of the execution by any Certificateholder of any such
instrument or writing may be proved in any reasonable manner which the Trustee
deems sufficient.
(c) Any request, demand, authorization, direction, notice, consent, waiver
or other act by a Certificateholder shall bind every Holder of every Certificate
issued upon the registration of transfer thereof or in exchange therefor or in
lieu thereof, in respect of anything done, or omitted to be done, by the
Trustee, the Depositor or either Servicer in reliance thereon, whether or not
notation of such action is made upon such Certificate.
(d) The Trustee may require additional proof of any matter referred to in
this Section 14.14 as it shall deem necessary.
Section 14.15 Grant of Security Interest.
It is the express intent of the parties hereto that the conveyance of the
Mortgage Loans and all other assets constituting the Trust Fund, by the
Depositor to the Trustee be, and be construed as, a sale of the Mortgage Loans
and such other assets constituting the Trust Fund by the Depositor and not a
pledge by the Depositor to secure a debt or other obligation of the Depositor.
However, in the event that, notwithstanding the aforementioned intent of the
parties, the Mortgage Loans and other assets constituting the Trust Fund are
held to be property of the Depositor, then it is the express intent of the
parties that such conveyance be deemed as a pledge of the Mortgage Loans and all
other assets constituting the Trust Fund to the Trustee to secure a debt or
other obligation of the Depositor and this Agreement shall be deemed to be a
security agreement within the meaning of the Uniform Commercial Code and the
conveyances provided for in Section 2.01 hereof shall be deemed a grant by the
Depositor to the Trustee of a security interest in all of the Depositor's right,
title and interest in and to the Mortgage Loans and all other assets
constituting the Trust Fund. Accordingly, the Depositor hereby grants to the
Trustee a security interest in the Mortgage Loans and all other assets
constituting the Trust Fund for the purpose of securing to the Trustee the
performance by the Depositor of the obligations under this Agreement.
Notwithstanding the foregoing, the parties hereto intend the conveyances
pursuant to Section 2.01 to be a true, absolute and unconditional sale of the
Mortgage Loans and all other assets constituting the Trust Fund by the Depositor
to the Trustee. The Depositor and the Trustee (at the written direction and
expense of the Depositor) shall take such actions as may be necessary to ensure
that if this Agreement were deemed to create a security interest, such security
interest would be deemed to be a perfected security interest of first priority
under applicable law and will be maintained as such for the term of this
Agreement. Without limiting the generality of the foregoing, the Servicer shall
file, or shall cause to be filed, all filings necessary to maintain the
effectiveness of any original filings necessary under the Uniform
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Commercial Code to perfect the Trustee's security interest in or lien on the
Mortgage Loans, including, without limitation, (x) continuation statements and
(y) such other statements as may be occasioned by (i) any change of name of the
Depositor or Trustee, (ii) any change of location of the place of business or
the chief executive office of the Depositor or (iii) any transfer of any
interest of the Depositor in any Mortgage Loan.
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IN WITNESS WHEREOF, the Servicer, the Trustee and the Depositor have caused
their names to be signed hereto by their respective officers thereunto duly
authorized as of the day and year first above written.
SUPERIOR BANK FSB, in all of its capacities as
contemplated hereby
By: /s/ WILLIAM C. BRACKEN
-----------------------------------------------
Name: William C. Bracken
Title: Chief Financial Officer
Senior Vice President
LEE SERVICING COMPANY, a division of Superior
Bank FSB, as Servicer
By: /s/ WILLIAM C. BRACKEN
-----------------------------------------------
Name: William C. Bracken
Title: Chief Financial Officer
Senior Vice President
LASALLE NATIONAL BANK, as Trustee
By: /s/ SHASHANK MISHRA
-----------------------------------------------
Name: Shashank Mishra
Title: Vice President
<PAGE>
State of )
) ss.:
County of )
On the 25th day of September, 1996 before me, a Notary Public in and for
the State of Illinois, personally appeared William C. Bracken known to me to be
a Senior Vice President of Superior Bank FSB, that executed the within
instrument and also known to me to be the person who executed it on behalf of
said corporation, and acknowledged to me that such corporation executed the
within instrument.
IN WITNESS WHEREOF, I have hereunto set my hand and affixed my official
seal the day and year in this certificate first above written.
--------------------------------------------
[SEAL] Notary Public
My Commission expires ____________
<PAGE>
State of )
) ss.:
County of )
On the 25th day of September, 1996 before me, a Notary Public in and for
the State of Illinois, personally appeared William C. Bracken known to me to be
a Senior Vice President of Lee Servicing Company, a division of Superior Bank
FSB, the corporation that executed the within instrument and also known to me to
be the person who executed it on behalf of said corporation, and acknowledged to
me that such corporation executed the within instrument.
IN WITNESS WHEREOF, I have hereunto set my hand and affixed my official
seal the day and year in this certificate first above written.
--------------------------------------------
[SEAL] Notary Public
My Commission expires ____________
<PAGE>
State of )
) ss.:
County of )
On the 25th day of September, 1996 before me, a Notary Public in and for
the State of Illinois, personally appeared Shashank Mishra known to me to be
Vice President of LaSalle National Bank, the banking corporation that executed
the within instrument and also known to me to be the person who executed it on
behalf of said banking corporation, and acknowledged to me that such corporation
executed the within instrument.
IN WITNESS WHEREOF, I have hereunto set my hand and affixed my official
seal the day and year in this certificate first above written.
--------------------------------------------
[SEAL] Notary Public
My Commission expires ____________
<PAGE>
EXHIBIT A
CONTENTS OF MORTGAGE FILE
With respect to each Mortgage Loan, the Mortgage File shall include each
of the following items, all of which shall be available for inspection by the
Certificateholders, to the extent required by applicable laws:
1. The original Mortgage Note, showing a complete chain of endorsements
and endorsed by the last endorsee thereof "Pay to the order of
_________ [or LaSalle National Bank, as Trustee under the Pooling
and Servicing Agreement, dated as of September 1, 1996, Series
1996-3] without recourse" and signed, by facsimile or manual
signature, by such last endorsee.
2. Either: (i) the original Mortgage, with evidence of recording
thereon, (ii) a copy of the Mortgage certified as a true copy by a
Responsible Officer of the Depositor or by the closing attorney, or
by an officer of the title insurer or agent of the title insurer
which issued the related title insurance policy, or commitment
therefor, if the original has been transmitted for recording until
such time as the original is returned by the public recording office
or (iii) a copy of the Mortgage certified by the public recording
office in those instances where the original recorded Mortgage has
been lost.
3. Either: (a) (1) the original Assignment of Mortgage from the last
assignee of the related Mortgage assigned to the Trustee, with
evidence of recording thereon, or (2) an original assignment of
mortgage from the last assignee of the related Mortgage assigned in
blank, or (b) if an original Assignment of Mortgage has not yet been
provided in accordance with clause (a), an Assignment of Mortgage to
the Trustee, certified by an appropriate officer or approved
signatory of the Depositor or the closing attorney or any officer of
the title insurer that issued the related title insurance policy, or
commitment therefor, or its duly authorized agent, as being a true
and complete copy of the original of such Assignment of Mortgage to
the Trustee submitted for recording (provided, however, that an
appropriate officer or approved signatory of the Depositor may
complete one or more blanket certificates attaching copies of one or
more Assignments of Mortgage to the Trustee relating thereto) or (c)
a copy of such original Assignment of Mortgage to the Trustee, with
evidence of recording thereon, certified to be true and complete by
the Depositor or the appropriate public recording office, in those
instances where such original Assignment of Mortgage has been
recorded but subsequently lost; any such Assignment of Mortgage may
be made by blanket assignments for Mortgage Loans secured by the
Mortgaged Properties located in the same county, if permitted by
applicable law.
<PAGE>
4. The original policy of title insurance or a true copy thereof or, if
such policy has not yet been delivered by the insurer, the
commitment or binder to issue same.
5. Originals of all assumption and modification agreements, if any, or
a copy certified as a true copy by a Responsible Officer of the
Depositor if the original has been transmitted for recording until
such time as the original is returned by the public recording
office.
6. Either: (i) originals of all intervening assignments, if any,
showing a complete chain of title from the originator to the last
assignee of the related Mortgage, including any recorded warehousing
assignments, with evidence of recording thereon, or, (ii) if the
original intervening assignments have not yet been returned from the
recording office, a copy of the originals of such intervening
assignments together with a certificate of a Responsible Officer of
the Depositor or the closing attorney or an officer of the title
insurer which issued the related title insurance policy, or
commitment therefor, or its duly authorized agent certifying that
the copy is a true copy of the original of such intervening
assignments or (iii) a copy of the intervening assignment certified
by the public recording office in those instances where the original
recorded intervening assignment has been lost.
7. Proof of hazard insurance in the form of the declaration page of a
hazard insurance policy together with a direction to the insurer or
agent to add the name of the mortgagee, its successors and assigns,
as mortgagee/loss payee, or hazard insurance policy endorsement that
names the Depositor, its successors and assigns, as a mortgagee/loss
payee, and, if such endorsement does not show the amount insured by
the related hazard insurance policy, some evidence of such amount
except with respect to those Mortgage Loans purchased by the
Depositor from an investor as to which such proof of hazard
insurance shall be delivered not later than 180 days after the
Closing Date and, if required by law, flood insurance policy, with
extended coverage of the hazard insurance policy.
8. With respect to each Sub-Pool 1 Multifamily Loan and Sub-Pool 1
Mixed Use Loan, (i) if such item is a document separate from the
Mortgage either (a) an original copy of the related Assignment of
Leases, if any (with recording information indicated thereon), or
(b) if the original of such Assignment of Leases has not yet been
returned from the filing office, a copy of such original, certified
by an appropriate officer or approved signatory of the Depositor or
the closing attorney or any officer of the title insurer that issued
the related title insurance policy, or commitment therefor, or its
duly authorized agent, as being a true and complete copy of the
original of such Assignment of Leases submitted for filing; (ii) an
original assignment of any related Assignment of Leases, if any (if
such document is a document separate from the Mortgage and not
incorporated in the Assignment of Mortgage), in blank and in
recordable form; (iii) if such item is a document separate from the
Mortgage either (A) an original copy of all
-2-
<PAGE>
intervening assignments of Assignment of Leases, if any (with
recording information indicated thereon), or (B) if the original of
such intervening assignments of Assignment of Leases has not yet
been returned from the recording office, a copy of such original,
certified by an appropriate officer or approved signatory of the
Depositor or the closing attorney or any officer of the title
insurer that issued the related title insurance policy, or
commitment therefor, or its duly authorized agent, as being a true
and complete copy of the original of such intervening assignment of
Assignment of Leases submitted for recording; (iv) either (a) a copy
of the UCC-1 financing statement and any related continuation
statements, if any, each showing the Mortgagor as debtor and
mortgagee as secured party and each with evidence of filing thereon,
or (b) if the copy of the UCC-1 financing statement has not yet been
returned from the filing office, a copy of such UCC-1 financing
statement, certified by an appropriate officer or approved signatory
of the Depositor or the closing attorney or any officer of the title
insurer that issued the related title insurance policy, or
commitment therefor, or its duly authorized agent, as being a true
and complete copy of the original of such UCC-1 financing statement
submitted for filing; (v) an original executed form UCC-2 or UCC-3
financing statement, in form suitable for filing, disclosing the
assignment in blank, of the security interest in the personal
property constituting security for repayment of the Mortgage Loan;
and (vi) either (A) an original copy of all intervening assignments
of UCC-3 financing statements, if any (with evidence of filing
thereon), or (B) if the original of such intervening assignments of
UCC-3 financing statements has not yet been returned from the filing
office, a copy of such original, certified by an appropriate officer
or approved signatory of the Depositor or the closing attorney or
any officer of the title insurer that issued the related title
insurance policy, or commitment therefor, or its duly authorized
agent, as being a true and complete copy of the original of such
intervening assignments of UCC-3 financing statements submitted for
recording. If in connection with any Mortgage Loan the Depositor
cannot deliver any such financing statement(s) with evidence of
filing thereon because such financing statement(s) has not yet been
returned by the public filing office where such financing
statement(s) has been submitted for filing, then the Depositor shall
deliver or cause to be delivered a photocopy of such financing
statement(s) (certified by the Depositor to be a true and complete
copy) together with an officers' certificate stating that such
financing statement(s) has been dispatched to the appropriate public
filing office for filing.
9. Mortgage Loan closing statement and any other truth-in-lending or
real estate settlement procedure forms required by law.
10. Residential loan application.
11. Verification of employment and income, and tax returns, if any.
-3-
<PAGE>
12. Credit report on the mortgagor.
13. The full appraisal made in connection with the origination of the
related Mortg age Loan with photographs of the subject property and
of comparable properties, constituting evidence sufficient to
indicate that the Mortgaged Property relates to a Residential
Dwelling.
14. With respect to Sub-Pool 1, to the extent that such Sub-Pool 1
Mortgage Loan is secured by a second priority lien, a verification
of the first mortgage.
15. All other papers and records developed or originated by the
Depositor or others, required to document the Mortgage Loan or to
service the Mortgage Loan.
-4-
<PAGE>
EXHIBIT B-1
[FORM OF CLASS 1A CERTIFICATE]
[DTC LEGEND]
AFC Mortgage Loan Asset Backed Certificate
Series 1996-3 Original Class 1A
Class 1A[-1][-2][-3][-4][-5] Principal Balance:
[-6] $___________.
No.___________
Original Dollar Amount as of the Closing
Date of Pooling and Date Represented by this Certificate:
Servicing Agreement: $_______________.
September 1, 1996
Percentage Interest of
Servicer: this Certificate:
Lee Servicing Company, a %
division of Superior Bank
FSB
Original Sub-Pool 1 Principal
First Remittance Date: Balance: $____________.
October 25, 1996
Original Sub-Pool 1 Pre-Funded Amount:
Closing Date: $____________.
September 25, 1996
Latest Scheduled Maturity Date of any Sub-
Class 1A[-1][-2][-3][-4][- Pool 1 Subsequent Mortgage Loan:
5][-6] ___________ 1, 20__
Pass-Through Rate:
[variable][____%] Trustee: LaSalle National Bank
CUSIP #:
This certifies that __________ is the registered owner of the percentage
interest (the "Percentage Interest") specified above in that certain beneficial
ownership interest evidenced by all the Class 1A[-1][-2][-3][-4][-5][-6]
Certificates of the above referenced series (the "Class
1A[-1][-2][-3][-4][-5][-6] Certificates") in a Trust Fund consisting primarily
of certain residential first and second mortgage loans (the "Mortgage Loans")
serviced by Lee Servicing Company, a division of Superior Bank FSB (the
"Servicer"). The Mortgage Loans were originated or acquired by Superior Bank FSB
(the "Depositor"). The Trust Fund will be created by the Depositor and the
Mortgage Loans will be serviced by the Servicer pursuant to the terms and
conditions of that certain Pooling and Servicing Agreement dated as of September
1, 1996 (the
<PAGE>
"Agreement") by and among the Servicer, the Depositor and LaSalle National Bank,
as trustee (the "Trustee"), certain of the pertinent provisions of which are set
forth herein. The Cut-off Date with respect to the Sub-Pool 1 Initial Mortgage
Loans is September 1, 1996. To the extent not defined herein, the capitalized
terms used herein have the meanings assigned in the Agreement. This Certificate
is issued under and is subject to the terms, provisions and conditions of the
Agreement, to which terms and provisions the Holder of this Certificate by
virtue of the acceptance hereof assents and by which such Holder is bound.
On each Remittance Date, commencing on October 25, 1996, the Trustee or
Paying Agent shall distribute to the Person in whose name this Certificate is
registered on the Business Day immediately preceding such Remittance Date with
respect to the Class 1A-1 Certificates and the Class 2A Certificates, and the
last Business Day of the month next preceding the month of such distribution
(each, a "Record Date"), an amount equal to the product of the Percentage
Interest evidenced by this Certificate and the amount required to be distributed
to Holders of Class 1A[-1][-2][-3][-4][-5][-6] Certificates on such Remittance
Date pursuant to Section 6.06 of the Agreement.
Distributions on this Certificate will be made by the Trustee or Paying
Agent by wire transfer of immediately available funds to the account of the
Person entitled thereto as shall appear on the Certificate Register without the
presentation or surrender of this Certificate or the making of any notation
thereon, at a bank or other entity having appropriate facilities therefor, if
such Person shall own of record (i) any Class R Certificate or (ii) any Class A
Certificate with an initial related Class A Principal Balance in excess of
$5,000,000, and shall have so notified the Trustee in writing at least five
Business Days prior to the related Remittance Date, or otherwise by check mailed
to the address of such Person appearing in the Certificate Register.
Notwithstanding the above, the initial distribution on all Classes of
Certificates other than the Class 1A-1 Certificates and the Class 2A
Certificates will be made to Certificateholders of record as of the Closing Date
and the final distribution on this Certificate will be made after due notice by
the Servicer of the pendency of such distribution and only upon presentation and
surrender of this Certificate at the office or agency maintained for that
purpose by the Certificate Registrar in Chicago, Illinois.
-2-
<PAGE>
IN WITNESS WHEREOF, the Trustee on behalf of the Trust has caused this
Certificate to be duly executed under its official seal.
LASALLE NATIONAL BANK,
as Trustee
By:______________________________
Authorized Officer
Dated:________________________
(Seal)
CERTIFICATE OF AUTHENTICATION
This is a Class 1A[-1][-2][-3]][-4][-5][-6] Certificate referred to in the
within-mentioned Agreement.
LASALLE NATIONAL BANK, as Certificate Registrar
By:______________________________
Authorized Officer
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<PAGE>
EXHIBIT B-2
[FORM OF CLASS 2A CERTIFICATE]
[DTC LEGEND]
AFC Mortgage Loan Asset Backed Certificate
Series 1996-3 Original Class 2A
Class 2A Principal Balance:
$___________.
No.___________
Original Dollar Amount as of the Closing
Date of Pooling and Date Represented by this Certificate:
Servicing Agreement: $_______________.
September 1, 1996
Percentage Interest of
Servicer: this Certificate:
Lee Servicing Company, a %
division of Superior Bank
FSB Original Sub-Pool 2 Principal
Balance: $____________.
First Remittance Date:
October 25, 1996 Original Sub-Pool 2 Pre-Funded Amount:
$______________.
Closing Date:
September 25, 1996 Latest Scheduled Maturity Date of any Sub-
Pool 2 Subsequent Mortgage Loan:
CUSIP #: ___________ 1, 20__
Trustee: LaSalle National Bank
This certifies that ____________ is the registered owner of the percentage
interest (the "Percentage Interest") specified above in that certain beneficial
ownership interest evidenced by all the Class 2A Certificates of the above
referenced series (the "Class 2A Certificates") in a Trust Fund consisting
primarily of certain residential first and second mortgage loans (the "Mortgage
Loans") serviced by Lee Servicing Company, a division of Superior Bank FSB (the
"Servicer"). The Mortgage Loans were originated or acquired by Superior Bank FSB
(the "Depositor"). The Trust Fund will be created by the Depositor and the
Mortgage Loans will be serviced by the Servicer pursuant to the terms and
conditions of that certain Pooling and Servicing Agreement dated as of September
1, 1996 (the "Agreement") by and among the Servicer, the Depositor and LaSalle
National Bank, as trustee (the "Trustee"), certain of the pertinent provisions
of which are set forth herein. The Cut-off Date with respect to the Sub-Pool 2
Initial Mortgage Loans is September 1, 1996. To the extent not defined herein,
the
<PAGE>
capitalized terms used herein have the meanings assigned in the Agreement. This
Certificate is issued under and is subject to the terms, provisions and
conditions of the Agreement, to which terms and provisions the Holder of this
Certificate by virtue of the acceptance hereof assents and by which such Holder
is bound.
On each Remittance Date, commencing on October 25, 1996, the Trustee or
Paying Agent shall distribute to the Person in whose name this Certificate is
registered on the Business Day immediately preceding such Remittance Date with
respect to the Class 1A-1 Certificates and the Class 2A Certificates, and the
last Business Day of the month next preceding the month of such distribution
(each, a "Record Date"), an amount equal to the product of the Percentage
Interest evidenced by this Certificate and the amount required to be distributed
to Holders of Class 2A Certificates on such Remittance Date pursuant to Section
6.06 of the Agreement.
Distributions on this Certificate will be made by the Trustee or Paying
Agent by wire transfer of immediately available funds to the account of the
Person entitled thereto as shall appear on the Certificate Register without the
presentation or surrender of this Certificate or the making of any notation
thereon, at a bank or other entity having appropriate facilities therefor, if
such Person shall own of record (i) any Class R Certificate or (ii) any Class A
Certificate with an initial related Class A Principal Balance in excess of
$5,000,000, and shall have so notified the Trustee in writing at least five
Business Days prior to the related Remittance Date, or otherwise by check mailed
to the address of such Person appearing in the Certificate Register.
Notwithstanding the above, the final distribution on this Certificate will be
made after due notice by the Servicer of the pendency of such distribution and
only upon presentation and surrender of this Certificate at the office or agency
maintained for that purpose by the Certificate Registrar in Chicago, Illinois.
-2-
<PAGE>
IN WITNESS WHEREOF, the Trustee on behalf of the Trust has caused this
Certificate to be duly executed under its official seal.
LASALLE NATIONAL BANK,
as Trustee
By:_____________________________
Authorized Officer
Dated:________________________
(Seal)
CERTIFICATE OF AUTHENTICATION
This is a Class 2A Certificate referred to in the within-mentioned
Agreement.
LASALLE NATIONAL BANK, as Certificate Registrar
By:_____________________________
Authorized Officer
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<PAGE>
EXHIBIT B-3
[FORM OF CLASS R CERTIFICATE]
THIS CERTIFICATE HAS NOT BEEN REGISTERED OR QUALIFIED UNDER THE SECURITIES ACT
OF 1933, AS AMENDED (THE "1933 ACT"), OR THE SECURITIES LAW OF ANY STATE. ANY
RESALE, TRANSFER OR OTHER DISPOSITION OF THIS CERTIFICATE WITHOUT SUCH
REGISTRATION OR QUALIFICATION MAY BE MADE ONLY IN A TRANSACTION WHICH DOES NOT
REQUIRE SUCH REGISTRATION OR QUALIFICATION AND IN ACCORDANCE WITH THE PROVISIONS
OF SECTION 4.02 OF THE POOLING AND SERVICING AGREEMENT REFERRED TO HEREIN.
SOLELY FOR U.S. FEDERAL INCOME TAX PURPOSES, THIS CERTIFICATE IS A "RESIDUAL
INTEREST" IN A "REAL ESTATE MORTGAGE INVESTMENT CONDUIT," AS THOSE TERMS ARE
DEFINED, RESPECTIVELY, IN SECTIONS 860G AND 860D OF THE INTERNAL REVENUE CODE OF
1986, AS AMENDED (THE "CODE").
ANY RESALE, TRANSFER OR OTHER DISPOSITION OF THIS CLASS R CERTIFICATE MAY BE
MADE ONLY IF (1) THE PROPOSED TRANSFEREE PROVIDES TO THE TRUSTEE AN AFFIDAVIT
STATING AMONG OTHER THINGS THAT SUCH TRANSFEREE IS A PERMITTED TRANSFEREE (AS
DEFINED IN THE POOLING AND SERVICING AGREEMENT) OR AN AGENT OF A PERMITTED
TRANSFEREE AND (2) THE PROPOSED TRANSFEROR PROVIDES TO THE TRUSTEE A CERTIFICATE
TO THE EFFECT THAT SUCH TRANSFEROR HAS NO KNOWLEDGE THAT THE PROPOSED TRANSFEREE
IS NOT A PERMITTED TRANSFEREE AND NO PURPOSE OF SUCH PROPOSED TRANSFER IS TO
IMPEDE THE ASSESSMENT OR COLLECTION OF TAX. NOTWITHSTANDING THE REGISTRATION IN
THE CERTIFICATE REGISTER OF ANY TRANSFER OF THIS CLASS R CERTIFICATE TO A PERSON
OTHER THAN A PERMITTED TRANSFEREE OR AN AGENT OF A PERMITTED TRANSFEREE SUCH
REGISTRATION SHALL BE DEEMED TO BE OF NO LEGAL FORCE OR EFFECT WHATSOEVER AND
SUCH PERSON SHALL NOT BE DEEMED TO BE A CERTIFICATEHOLDER FOR ANY PURPOSE
HEREUNDER, INCLUDING, BUT NOT LIMITED TO, THE RECEIPT OF DISTRIBUTIONS ON THIS
CERTIFICATE.
NO TRANSFER OF THIS CERTIFICATE MAY BE MADE TO A NON-UNITED STATES PERSON AS
SUCH TERM IS DEFINED IN THE POOLING AND SERVICING AGREEMENT REFERRED TO HEREIN.
NO TRANSFER OF THIS CERTIFICATE OR ANY INTEREST HEREIN SHALL BE MADE TO ANY
EMPLOYEE BENEFIT PLAN OR OTHER RETIREMENT ARRANGEMENT, INCLUDING INDIVIDUAL
RETIREMENT ACCOUNTS AND ANNUITIES, KEOGH PLANS AND COLLECTIVE INVESTMENT FUNDS
AND SEPARATE ACCOUNTS IN WHICH SUCH PLANS, ACCOUNTS OR ARRANGEMENTS ARE INVESTED
THAT IS SUBJECT TO THE EMPLOYEE RETIREMENT INCOME SECURITY ACT OF 1974, AS
<PAGE>
AMENDED ("ERISA"), OR THE INTERNAL REVENUE CODE OF 1986 (THE "CODE"), UNLESS THE
SERVICER AND THE TRUSTEE ARE PROVIDED WITH A CERTIFICATION AND AN OPINION OF
COUNSEL WHICH ESTABLISHES TO THE SATISFACTION OF THE SERVICER AND THE TRUSTEE
THAT SUCH TRANSFER WILL NOT RESULT IN A VIOLATION OF SECTION 406 OF ERISA OR
SECTION 4975 OF THE CODE OR CAUSE THE SERVICER OR THE TRUSTEE TO BE DEEMED A
FIDUCIARY OF SUCH PLAN OR RESULT IN THE IMPOSITION OF AN EXCISE TAX UNDER THE
CODE.
AFC Mortgage Loan Asset Backed Certificate
Series 1996-3 Percentage Interest of
Class R this Certificate:
______%
No.__________
Date of Pooling and Original Pool Principal Balance:
Servicing Agreement: $________________.
September 1, 1996
Original Pre-Funded Amount:
Servicer: $___________.
Lee Servicing Company, a
division of Superior Bank FSB Trustee: LaSalle National Bank
First Remittance Date: Closing Date:
October 25, 1996 September 25, 1996
This certifies that _______ is the registered owner of the percentage
interest (the "Percentage Interest") specified above in that certain beneficial
ownership interest evidenced by all the Class R Certificates of the above
referenced Series (the "Class R Certificates") in a Trust Fund consisting
primarily of certain residential first and second mortgage loans (the "Mortgage
Loans") serviced by Lee Servicing Company, a division of Superior Bank FSB (the
"Servicer"). The Mortgage Loans were originated or acquired by Superior Bank FSB
(the "Depositor"). The Trust Fund will be created by the Depositor and the
Mortgage Loans will be serviced by the Servicer pursuant to the terms and
conditions of that certain Pooling and Servicing Agreement dated as of September
1, 1996 (the "Agreement") by and among the Servicer, the Depositor and LaSalle
National Bank, as trustee (the "Trustee"), certain of the pertinent provisions
of which are set forth herein. The Cut-off Date with respect to the Initial
Mortgage Loans is September 1, 1996. To the extent not defined herein, the
capitalized terms used herein have the meanings assigned in the Agreement. This
Certificate is issued under and is subject to the terms, provisions and
conditions of the Agreement, to which Agreement the Holder of this Certificate
by virtue of the acceptance hereof assents and by which such Holder is bound.
-2-
<PAGE>
On each Remittance Date, commencing on October 25, 1996, the Trustee or a
Paying Agent shall distribute to the Person in whose name this Certificate is
registered on the last day of the month next preceding the month of such
distribution (the "Record Date"), an amount equal to the product of the
Percentage Interest evidenced by this Certificate and any amounts required to be
distributed to the Holders of the Class R Certificates on such Remittance Date
pursuant to the Agreement.
Distributions on this Certificate will be made by the Trustee or Paying
Agent by wire transfer of immediately available funds to the account of the
Person entitled thereto as shall appear on the Certificate Register without the
presentation or surrender of this Certificate or the making of any notation
thereon, at a bank or other entity having appropriate facilities therefor, if
such Person shall own of record (i) any Class R Certificate or (ii) any Class A
Certificate with an initial related Class A Principal Balance in excess of
$5,000,000, and shall have so notified the Trustee in writing at least five
Business Days prior to the related Remittance Date, or otherwise by check mailed
to the address of such Person appearing in the Certificate Register.
Notwithstanding the above, the final distribution on this Certificate will be
made after due notice by the Servicer of the pendency of such distribution and
only upon presentation and surrender of this Certificate at the office or agency
maintained for that purpose by the Certificate Registrar in Chicago, Illinois.
No transfer of a Class R Certificate or any interest therein shall be made
to any employee benefit plan or other retirement arrangement, including
individual retirement accounts and annuities, Keogh plans and collective
investment funds and separate accounts in which such plans, accounts or
arrangements are invested, that is subject to the Employment Retirement Income
Security Act of 1974, as amended ("ERISA"), or the Code (each, a "Plan"), unless
the prospective transferee of a Class R Certificate provides the Servicer and
the Trustee with a certification of facts and, at its own expense, an Opinion of
Counsel which establish to the satisfaction of the Servicer and the Trustee that
such transfer will not result in a violation of Section 406 of ERISA or Section
4975 of the Code or cause the Servicer or the Trustee to be deemed a fiduciary
of such Plan or result in the imposition of an excise tax under Section 4975 of
the Code.
As provided in the Agreement and subject to certain limitations therein
set forth, including, without limitation, execution and/or delivery by the
proposed transferor and/or transferee, as appropriate, the Resale Certification
(Exhibit D to the Agreement), and, if required by the Trustee, an opinion of
counsel relating to the exemption from registration under the 1933 Act pursuant
to which the proposed transfer is to be made, the Transfer Affidavit (Exhibit J
to the Agreement) and Transfer Certificate (Exhibit J-1 to the Agreement)
described in Section 4.02(c)(ii) of the Agreement, and, if the proposed
transferee is a Plan, the certification and opinion of counsel described on the
front of this Certificate, the transfer of this Certificate is registrable in
the Certificate Register upon surrender of this Certificate for registration of
transfer at the offices or agencies maintained by the Trustee in Chicago,
Illinois, accompanied by a written instrument of transfer in the form of Exhibit
E to the Agreement, or such other endorsement or written instrument of transfer
as is satisfactory to the Trustee, duly
-3-
<PAGE>
executed by the Holder hereof or such Holder's attorney duly authorized in
writing, and thereupon one or more new Certificates of authorized denominations
of a like Class evidencing the same aggregate undivided Percentage Interest will
be issued to the designated transferee or transferees.
-4-
<PAGE>
IN WITNESS WHEREOF, the Trustee on behalf of the Trust has caused this
Certificate to be duly executed under its official seal.
LASALLE NATIONAL BANK,
as Trustee
By:_____________________________
Authorized Officer
Dated:________________________
(Seal)
CERTIFICATE OF AUTHENTICATION
This is a Class R Certificate referred to in the within-mentioned
Agreement.
LASALLE NATIONAL BANK,
as Certificate Registrar
By:______________________________
Authorized Officer
-5-
<PAGE>
EXHIBIT B-4
[Form of Reverse of Certificate]
This Certificate is one of a duly authorized issue of Certificates
designated as AFC Mortgage Loan Asset Backed Certificates, Series 1996-3, Class
1A-1, Class 1A-2, Class 1A-3, Class 1A-4, Class 1A-5, Class 1A-6, Class 2A and
Class R (herein called the "Certificates") consisting of Sub-Pool 1 and Sub-Pool
2 Mortgage Loans, and representing undivided ownership of (i) such Mortgage
Loans as from time to time are subject to the Agreement, together with the
Mortgage Files relating thereto, (ii) such assets as from time to time are
identified as REO Property with respect to the related Sub-Pool or are deposited
in the related Certificate Account, related Principal and Interest Account,
related Trustee Expense Account, related Pre-Funding Account, related Reserve
Account, the related Interest Coverage Account, and, in the case of Sub-Pool 2,
the Supplemental Interest Account, including amounts on deposit in the foregoing
accounts and invested in Permitted Instruments, (iii) the Trustee's rights under
all insurance policies with respect to the Mortgage Loans required to be
maintained pursuant to the Agreement and any Insurance Proceeds, (iv) the
Certificate Insurance Policy (as defined below), (v) Liquidation Proceeds and
(vi) Released Mortgaged Property Proceeds (all of the foregoing being
hereinafter collectively called the "Trust Fund"). The Depositor's Yield and
amounts due on or before the Cut-off Date in the case of Initial Mortgage Loans
or on or before a Subsequent Cut-off Date in the case of Subsequent Mortgage
Loans do not constitute part of the Trust Fund. The Class R Certificates are
subordinated in right of payment to the Class A Certificates, as set forth in
the Agreement.
The Certificates do not represent an obligation of, or an interest in, the
Servicer, the Depositor or the Trustee and are not insured or guaranteed by the
Federal Deposit Insurance Corporation, the Government National Mortgage
Association, the Federal Housing Administration or the Department of Veterans
Affairs or any other governmental agency. The Certificates are limited in right
of payment to certain collections and recoveries respecting the Mortgage Loans,
the Excess Spread with respect to the related Sub-Pool, the related Pre-Funded
Amount, the related Initial Reserve Account Deposit, the related Interest
Coverage Amount, in the case of Sub-Pool 2, the Supplemental Interest, and
amounts payable under the Certificate Insurance Policy, all as more specifically
set forth herein and in the Agreement. To the extent described in the Agreement,
the Class 1A and Class 2A Certificates are cross-collateralized and, in certain
circumstances, Excess Spread and principal collections on a Sub-Pool will be
available to Holders of the Class A Certificates related to the other Sub-Pool.
In the event Servicer funds are advanced with respect to any Mortgage Loan, such
advance is reimbursable to the Servicer from related recoveries on such Mortgage
Loan.
Financial Guaranty Insurance Company (the "Certificate Insurer") has
issued a surety bond (the "Certificate Insurance Policy") with respect to the
Class A Certificates, a copy of which is attached to the Agreement.
<PAGE>
As provided in the Agreement, deposits and withdrawals from the related
Principal and Interest Account, the related Certificate Account, the related
Trustee Expense Account, the related Reserve Account, the related Interest
Coverage Account and, in the case of Sub-Pool 2, the Supplemental Interest
Account may be made by the Servicer or the Trustee, as the case may be, from
time to time for purposes other than distributions to Certificateholders, such
purposes including reimbursement to the Servicer or the Depositor of advances
made, or certain expenses incurred, by each, and the payment of fees due and
owing to the Servicer, the Trustee and the Certificate Insurer.
Subject to certain restrictions, the Agreement permits the amendment
thereof by the Servicer, the Depositor and the Trustee with the consent of the
Certificate Insurer, (i) the Class 1A Majority Certificateholders in the case of
an amendment solely affecting the Class 1A Certificates and (ii) the Class 2A
Majority Certificateholders in the case of an amendment solely affecting the
Class 2A Certificates (although in certain limited circumstances the Agreement
may be amended without the consent of any Certificateholder). The Agreement
permits the related Majority Certificateholders, on behalf of all related
Certificateholders, subject to the consent of the Certificate Insurer, or the
Certificate Insurer, to waive any default by the Servicer in the performance of
its obligations under the Agreement with respect to the related sub-Pool and its
consequences, except a default in making any required distribution on a
Certificate. Any such consent or waiver by the related Majority
Certificateholders or the Certificate Insurer shall be conclusive and binding on
the Holder of this Certificate and upon all future Holders of this Certificate
and of any Certificate issued upon the transfer hereof or in exchange herefor or
in lieu hereof whether or not notation of such consent or waiver is made upon
this Certificate.
As provided in the Agreement and subject to certain limitations therein
set forth, the transfer of this Certificate is registrable in the Certificate
Register upon surrender of this Certificate for registration of transfer at the
offices or agencies maintained by the Trustee in Chicago, Illinois, accompanied
by a written instrument of transfer in the form required by the Agreement, or
such other endorsement or written instrument of transfer as is satisfactory to
the Trustee, duly executed by the Holder hereof or such Holder's attorney duly
authorized in writing, and thereupon one or more new Certificates of authorized
denominations of a like Class evidencing the same aggregate undivided Percentage
Interest will be issued to the designated transferee or transferees.
The Certificates are issuable only as registered Class 1A-1, Class 1A-2,
Class 1A-3, Class 1A-4, Class 1A-5, Class 1A-6, Class 2A and Class R
Certificates. As provided in the Agreement and subject to certain limitations
therein set forth, this Certificate is exchangeable for a new Certificate of a
like Class evidencing the same undivided ownership interest, as requested by the
Holder surrendering the same. No service charge will be made for any such
registration of transfer or exchange, but the Certificate Registrar may require
payment of a sum sufficient to cover any tax or other governmental charge
payable in connection therewith.
The Servicer, the Depositor, the Trustee and the Certificate Registrar,
and any agent of any of the foregoing, may treat the Person in whose name this
Certificate is registered
-2-
<PAGE>
as the owner hereof for all purposes, and none of the foregoing shall be
affected by notice to the contrary.
The obligations created by the Agreement shall terminate upon notice to
the Trustee of: (i) the later of the distribution to Certificateholders of the
final payment or collection with respect to the last Mortgage Loan (or Monthly
Advances of same by the Servicer), or the disposition of all funds with respect
to the last Mortgage Loan and the remittance of all funds due under the
Agreement and the payment of all amounts due and payable to the Certificate
Insurer and the Trustee, (ii) the purchase by the Servicer of all outstanding
Mortgage Loans and REO Properties of the Sub-Pool at a price determined as
provided in the Agreement (the exercise of the right of the Servicer to purchase
all the Mortgage Loans and property in respect of Mortgage Loans will result in
early retirement of the Certificates), the right of the Servicer to purchase
being subject to the aggregate principal balance of the Mortgage Loans in a
Sub-Pool at the time of purchase being less than five percent (5%) of the sum of
the Sub-Pool Principal Balance and the related Original Pre-Funded Amounts
provided, however that on or prior to such Remittance Date with respect to
Sub-Pool 1, (x) the Servicer will have purchased all of the Mortgage Loans and
REO Property relating to Sub-Pool 2 or (y) the Class 1A-6 Principal Balance on
such date is less than or equal to five percent (5%) of the Original Class 1A-6
Principal Balance, or (iii) by the mutual consent of the Servicer, the
Certificate Insurer and all Certificateholders in writing. In no event, however,
shall the Trust Fund terminate later than twenty-one years after the death of
the last surviving lineal descendant of the Person named in the Agreement. By
its acceptance of this Certificate, the Certificateholder hereby appoints the
Servicer as its attorney-in-fact to adopt a plan of liquidation of the Trust
Fund in accordance with Section 11.02 of the Agreement.
Unless the certificate of authentication hereon has been executed by the
Trustee or the Certificate Registrar, by manual signature, this Certificate
shall not be entitled to any benefit under the Agreement or be valid for any
purpose.
-3-
<PAGE>
EXHIBIT C
PRINCIPAL AND INTEREST ACCOUNT LETTER AGREEMENT
(date)
To: ____________________________
____________________________
____________________________ (the "Depository")
As "Servicer" under the Pooling and Servicing Agreement, dated as of
September 1, 1996, among Superior Bank FSB, as ("Depositor"), Lee Servicing
Company, a division of Superior Bank FSB, as servicer (the "Servicer"), and
LaSalle National Bank, as Trustee (the "Agreement"), we hereby authorize and
request you to establish two accounts, as Principal and Interest Accounts
pursuant to Section 5.03 of the Agreement, to be designated as "Sub-Pool 1
Principal and Interest Account, Lee Servicing Company, a division of Superior
Bank FSB, in trust for the registered holders of AFC Mortgage Loan Asset Backed
Certificates, Series 1996-3." "Sub-Pool 2 Principal and Interest Account, Lee
Servicing Company, a division of Superior Bank FSB, in trust for the registered
holders of AFC Mortgage Loan Asset Backed Certificates, Series 1996-3." All
deposits in the accounts shall be subject to withdrawal therefrom by order
signed by the Servicer in accordance with terms of the Agreement. You may refuse
any deposit which would result in violation of the requirement that the account
be fully insured as described below. This letter is submitted to you in
duplicate. Please execute and return one original to us.
LEE SERVICING COMPANY, a
division of Superior Bank FSB
By:__________________________
Name:________________________
Title:_______________________
<PAGE>
The undersigned hereby certifies that the above described accounts have
been established as a trust account under Account Number ___________ and Account
Number __________, at the office of the Depository indicated above, and agrees
to honor withdrawals on such accounts as provided above. The amounts deposited
at any time in the accounts will be insured to the maximum amount provided by
applicable law by the Federal Deposit Insurance Corporation.
[DEPOSITORY]
By:__________________________
Name:________________________
Title:_______________________
-2-
<PAGE>
EXHIBIT D
RESALE CERTIFICATION
___________, 19__
[Depositor]
[Servicer]
[Trustee]
[Certificate Insurer]
[Certificate Registrar]
Re: Class ___ Certificate, No. __ (the "Certificate"), issued pursuant
to that certain Pooling and Servicing Agreement, AFC Mortgage Loan
Asset Backed Certificates, Series 1996-3, dated as of September 1,
1996 among Superior Bank FSB, as Depositor, Lee Servicing Company, a
division of Superior Bank FSB, as Servicer and LaSalle National
Bank, as Trustee
--------------------------------------------------------------------
Dear Sirs:
____________________________________________________ as registered holder
("Seller") intends to transfer the captioned Certificate to
___________________________ ("Purchaser"), for registration in the name of
________________________________.
1. In connection with such transfer, and in accordance with Section 4.02
of the captioned Agreement, Seller hereby certifies to you the following facts:
Neither the Seller nor anyone acting on its behalf has offered, transferred,
pledged, sold or otherwise disposed of the Certificate, any interest in the
Certificate or any other similar security to, or solicited any offer to buy or
accept a transfer, pledge or other disposition of the Certificate, any interest
in the Certificate or any other similar security from, or otherwise approached
or negotiated with respect to the Certificate, any interest in the Certificate
or any other similar security with, any person in any manner, or made any
general solicitation by means of general advertising or in any other manner, or
taken any other action, which would constitute a distribution of the Certificate
under the Securities Act of 1933, as amended (the "1933 Act"), or which would
render the disposition of the Certificate a violation of Section 5 of the 1933
Act or require registration pursuant thereto.
2. The Purchaser warrants and represents to, and covenants with, the
Seller, the Trustee and the Servicer pursuant to Section 4.02 of the Pooling and
Servicing Agreement that:
<PAGE>
a. The Purchaser agrees to be bound, as Certificateholder, by all of
the terms, covenants and conditions of the Pooling and Servicing Agreement, the
Certificate and the Custodial Agreement, and from and after the date hereof, the
Purchaser assumes for the benefit of each of the Servicer and the Seller all of
the Seller's obligations as Certificateholder thereunder;
b. The Purchaser understands that the Certificate has not been
registered under the 1933 Act or the securities laws of any state;
c. The Purchaser is acquiring the Certificate [for investment] for
its own account only and not for any other person;
d. The Purchaser considers itself a substantial, sophisticated
institutional investor having such knowledge and experience in financial and
business matters that it is capable of evaluating the merits and risks of
investment in the Certificate;
e. The Purchaser has been furnished with all information regarding
the Certificate that it has requested from the Seller, the Trustee or the
Servicer; and
f. Neither the Purchaser nor anyone acting on its behalf has
offered, transferred, pledged, sold or otherwise disposed of the Certificate,
any interest in the Certificate or any other similar security to, or solicited
any offer to buy or accept a transfer, pledge or other disposition of the
Certificate, any interest in the Certificate or any other similar security from,
or otherwise approached or negotiated with respect to the Certificate, any
interest in the Certificate or any other similar security with, any person in
any manner, or made any general solicitation by means of general advertising or
in any other manner, or taken any other action, which would constitute a
distribution of the Certificate under the 1933 Act or which would render the
disposition of the Certificate a violation of Section 5 of the 1933 Act or
require registration pursuant thereto, nor will it act, nor has it authorized or
will it authorize any person to act, in such manner with respect to the
Certificate.
3. The Purchaser warrants and represents to, and covenants with, the
Seller, the Servicer and the Depositor that:
a. The Purchaser agrees to be bound, as Certificateholder, by the
restrictions on transfer contained in the Pooling and Servicing Agreement;
b. Either: (1) the Purchaser is not an employee benefit plan within
the meaning of section 3(3) of the Employee Retirement Income Security Act of
1974, as amended ("ERISA") (a "Plan"), or a plan within the meaning of section
4975(e)(1) of the Internal Revenue Code of 1986 ("Code") (also a "Plan"), and
the Purchaser is not directly or indirectly purchasing the Certificates on
behalf of, as investment manager of, as named fiduciary of, as trustee of, or
with assets of a Plan; or (2) Purchaser's purchase of the Certificate(s) will
not result in a prohibited transaction under section 406 of ERISA or section
4975 of the Code.
-2-
<PAGE>
4. This Certification may be executed in one or more counterparts and by
the different parties hereto on separate counterparts, each of which, when so
executed, shall be deemed to be an original; such counterparts, together, shall
constitute one and the same agreement.
IN WITNESS WHEREOF, the parties have caused this Resale Certification to
be executed by their duly authorized officers as of the date first above
written.
________________________________, _________________________________________,
Seller Purchaser
By:_____________________________ By:_______________________________________
Name:___________________________ Name:_____________________________________
Title:__________________________ Title:____________________________________
Taxpayer Taxpayer
Identification No.______________ Identification No.________________________
-3-
<PAGE>
EXHIBIT E
ASSIGNMENT
THIS ASSIGNMENT dated as of the ___ day of __________, 19 , by and between
___________________________________________________ ("Assignor") and
_____________________________________ ("Assignee"), provides:
That for and in consideration of the sum of TEN DOLLARS ($10.00) and other
valuable consideration, the receipt and sufficiency of which hereby are
acknowledged, the parties hereby agree as follows:
1. Assignor hereby grants, transfers and assigns to Assignee all of the
right, title and interest of Assignor, as Certificateholder, in, to and under
that certain Pooling and Servicing Agreement (the "Pooling and Servicing
Agreement"), dated as of September 1, 1996, by and among LaSalle National Bank,
as Trustee ("Trustee"), Superior Bank FSB, as Depositor, and Lee Servicing
Company, a division of Superior Bank FSB, as Servicer, and that certain
Certificate, Class _____, No. __, Series 1996-3 (the "Certificate") issued
thereunder and authenticated by the Trustee.
2. For the purpose of inducing Assignee to purchase the Certificate from
Assignor, Assignor warrants and represents that:
a. Assignor is the lawful owner of the Certificate with the full
right to transfer the Certificate free from any and all claims and encumbrances
whatsoever;
b. The Assignor has not received notice, and has no knowledge of any
offsets, counterclaims or other defenses available to the Servicer with respect
to the Pooling and Servicing Agreement or the Certificate; and
c. [The Assignor has no knowledge of and has not received notice of
any amendments to the Pooling and Servicing Agreement or the Certificate.] [The
Pooling and Servicing Agreement has been amended pursuant to _____________ dated
_________________]
3. By execution hereof Assignee agrees to be bound, as Certificateholder,
by all of the terms, covenants and conditions of the Pooling and Servicing
Agreement and the Certificate, and from and after the date hereof Assignee
assumes for the benefit of each of the Servicer, the Depositor, the Trustee, the
Certificate Registrar and the Assignor all of Assignor's obligations as
Certificateholder thereunder.
4. The Assignee warrants and represents to, and covenants with, the
Assignor, the Depositor, the Trustee, the Certificate Registrar and the Servicer
that:
<PAGE>
a. The Assignee agrees to be bound, as Certificateholder, by the
restrictions on transfer contained in the Pooling and Servicing Agreement; and
b. Either: (1) the Assignee is not an employee benefit plan within
the meaning of section 3(3) of the Employee Retirement Income Security Act of
1974, as amended ("ERISA") (a "Plan"), or a plan within the meaning of section
4975(e)(1) of the Internal Revenue Code of 1986 ("Code") (also a "Plan"), and
the Assignee is not directly or indirectly purchasing the Certificate on behalf
of, as investment manager of, as named fiduciary of, as trustee of, or with
assets of a Plan; or (2) the Assignee is a Plan, but the Assignee's purchase of
the Certificate will not result in a prohibited transaction under section 406 of
ERISA or section 4975 of the Code and attached hereto is the certification and
opinion of counsel required under Section 4.02(c) of the Pooling and Servicing
Agreement.
5. This Assignment may be executed in one or more counterparts and by the
different parties hereto on separate counterparts, each of which, when so
executed, shall be deemed to be an original; such counterparts, together, shall
constitute one and the same agreement.
WITNESS the following signatures.
________________________________, _________________________________________,
Assignor Assignee
By:_____________________________ By:_______________________________________
Name:___________________________ Name:_____________________________________
Title:__________________________ Title:____________________________________
Taxpayer Taxpayer
Identification No.______________ Identification No.________________________
-2-
<PAGE>
State of ___________ )
) ss.:
County of __________ )
On the ___________ day of ______________, 19__ before me, a Notary Public
in and for the State of __________, personally appeared ___________ known to me
to be ________________________ of _________________________________, the
________________ that executed the within instrument and also known to me to be
the person who executed it on behalf of said corporation, and acknowledged to me
that such ________________ executed the within instrument.
IN WITNESS WHEREOF, I have hereunto set my hand and affixed my official
seal the day and year in this certificate first above written.
__________________________
Notary Public
My Commission expires ____________
<PAGE>
State of ___________ )
) ss.:
County of __________ )
On the ___________ day of ______________, 19__ before me, a Notary Public
in and for the State of ____________, personally appeared ___________ known to
me to be ________________________ of _________________________________, the
________________ that executed the within instrument and also known to me to be
the person who executed it on behalf of said corporation, and acknowledged to me
that such ________________ executed the within instrument.
IN WITNESS WHEREOF, I have hereunto set my hand and affixed my official
seal the day and year in this certificate first above written.
__________________________
Notary Public
My Commission expires ____________
<PAGE>
EXHIBIT E(1)
WIRING INSTRUCTIONS FORM
______________, 19__
[Paying Agent]
[Trustee]
Re: AFC Mortgage Loan Asset Backed Certificates, Series 1996-3, Class
___, No. __, issued pursuant to that certain Pooling and Servicing
Agreement, dated as of September 1, 1996, among Superior Bank FSB,
as Depositor, Lee Servicing Company, a division of Superior Bank
FSB, as Servicer, and LaSalle National Bank, as Trustee
------------------------------------------------------------------
Dear Sir:
In connection with the sale of the above-captioned Certificate by
_______________ to ______________ ("Transferee") you, as Paying Agent with
respect to the related Certificates, are instructed to make all remittances to
Transferee as Certificateholder as of _________, 199__ by wire transfer. For
such wire transfer, the wiring instructions are as follows:
Bank Name: _______________________________
City & State: _______________________________
ABA No.: _______________________________
Account Name: _______________________________
Account No.: _______________________________
Attention: _______________________________
_________________________
Transferee
Certificateholder's notice address:
Name:
Address:
<PAGE>
EXHIBIT F
FORM OF TRUSTEE INITIAL CERTIFICATION
______________, 19__
[Certificate Insurer]
[Servicer]
[Purchaser]
[Certificateholder]
Re: Pooling and Servicing Agreement, dated as of September 1, 1996,
among Superior Bank FSB, as Depositor, Lee Servicing Company, a
division of Superior Bank FSB, as Servicer, and LaSalle National
Bank, as Trustee
----------------------------------------------------------------
Gentlemen:
In accordance with Section 2.05 of the above-captioned Pooling and
Servicing Agreement, the undersigned, as Trustee, hereby certifies that, except
as noted on the attachment hereto, if any (the "Loan Exception Report"), it or
the Custodian on its behalf has received the documents referred to in Section
2.04(a) of the Pooling and Servicing Agreement with respect to each Mortgage
Loan listed in the related Mortgage Loan Schedule and such documents appear to
bear original signatures or copies of original signatures if the original
documents have not yet been delivered.
The Trustee has made no independent examination of any such documents
beyond the review specifically required in the above-referenced Pooling and
Servicing Agreement. The Trustee makes no representations as to: (i) the
validity, legality, sufficiency, enforceability or genuineness of any such
documents or any of the Mortgage Loans identified on the related Mortgage Loan
Schedule, or (ii) the collectability, insurability, effectiveness or suitability
of any such Mortgage Loan.
Capitalized words and phrases used herein shall have the respective
meanings assigned to them in the above-captioned Pooling and Servicing
Agreement.
LASALLE NATIONAL BANK,
as Trustee
By:__________________________
Name:________________________
Title:_______________________
<PAGE>
EXHIBIT F-1
FORM OF TRUSTEE INTERIM CERTIFICATION
______________, 19__
[Certificate Insurer]
[Depositor]
[Servicer]
[Certificateholders]
Re: Pooling and Servicing Agreement, dated as of September 1, 1996,
among Superior Bank FSB, as Depositor, Lee Servicing Company, a
division of Superior Bank FSB, as Servicer, and LaSalle National
Bank, as Trustee
----------------------------------------------------------------
Gentlemen:
In accordance with the provisions of Section 2.05 of the above-referenced
Pooling and Servicing Agreement, the undersigned, as Trustee, hereby certifies
that as to each Mortgage Loan listed in the related Mortgage Loan Schedule
(other than any Mortgage Loan paid in full or any Mortgage Loan listed on the
attachment hereto), it has reviewed (or caused to be reviewed) the documents
delivered to it or the Custodian on its behalf pursuant to Section 2.04 of the
Pooling and Servicing Agreement and has determined that, except as noted on the
attachment hereto, (i) all documents required to be delivered to it pursuant to
the Pooling and Servicing Agreement as of the date hereof are in its possession
or in the possession of the Custodian on its behalf (other than items listed in
Section 2.04(f) of the Pooling and Servicing Agreement), (ii) none of the
documents delivered to it or the Custodian on its behalf have been mutilated,
damaged, torn or otherwise physically altered and all such documents relate to
such Mortgage Loan, (iii) based on its examination, or the examination of the
Custodian on its behalf, and only as to the foregoing documents, the information
set forth in the related Mortgage Loan Schedule respecting such Mortgage Loan is
correct and (iv) each Mortgage Note has been endorsed as provided in Section
2.04 of the Pooling and Servicing Agreement. The Trustee has made no independent
examination of such documents beyond the review specifically required in the
above-referenced Pooling and Servicing Agreement. The Trustee makes no
representations as to: (i) the validity, legality, enforceability or genuineness
of any of the
<PAGE>
documents contained in each Trustee's Mortgage File or any of the Mortgage Loans
identified on the related Mortgage Loan Schedule, or (ii) the collectability,
insurability, effectiveness or suitability of any such Mortgage Loan.
Capitalized words and phrases used herein shall have the respective
meanings assigned to them in the above-captioned Pooling and Servicing
Agreement.
LASALLE NATIONAL BANK,
as Trustee
By:___________________________
Name:_________________________
Title:________________________
-2-
<PAGE>
EXHIBIT G
FORM OF TRUSTEE FINAL CERTIFICATION
_____________, 19__
[Certificate Insurer]
[Servicer]
[Certificateholders]
[Depositor]
Re: Pooling and Servicing Agreement, dated as of September 1, 1996,
among Superior Bank FSB, as Depositor, Lee Servicing Company,
a division of Superior Bank FSB, as Servicer, and LaSalle
National Bank, as Trustee, relating to AFC Mortgage Loan
Asset Backed Certificates, Series 1996-3
----------------------------------------------------------------
Gentlemen:
In accordance with Section 2.05 of the above-captioned Pooling and
Servicing Agreement, the undersigned, as Trustee, hereby certifies that, except
as noted on the attachment hereto, as to each Mortgage Loan listed in the
related Mortgage Loan Schedule (other than any Mortgage Loan paid in full or
listed on the attachment hereto) it or the Custodian on its behalf has reviewed
the documents delivered to it or to the Custodian on its behalf pursuant to
Section 2.04 of the Pooling and Servicing Agreement and has determined that (i)
all documents required to be delivered to it pursuant to the Pooling and
Servicing Agreement as of the date hereof are in its possession or in the
possession of the Custodian on its behalf (except that no certification is given
as to the items listed in Section 2.04(f) of the Pooling and Servicing
Agreement), (ii) none of the documents delivered to it or the Custodian on its
behalf have been mutilated, damaged, torn or otherwise physically altered and
all such documents relate to such Mortgage Loan, (iii) based on its examination,
and only as to the foregoing documents, the information set forth in the related
Mortgage Loan Schedule respecting such Mortgage Loan is correct and (iv) each
Mortgage Note has been endorsed as provided in Section 2.04 of the Pooling and
Servicing Agreement. The Trustee has made no independent examination of such
documents beyond the review specifically required in the above-referenced
Pooling and Servicing Agreement. The Trustee makes no representations as to: (i)
the validity, legality, enforceability or genuineness of any of the documents
contained in each Trustee's Mortgage File or any of the
<PAGE>
Mortgage Loans identified on the related Mortgage Loan Schedule, or (ii) the
collectability, insurability, effectiveness or suitability of any such Mortgage
Loan.
Capitalized words and phrases used herein shall have the respective
meanings assigned to them in the above-captioned Pooling and Servicing
Agreement.
LASALLE NATIONAL BANK,
as Trustee
By:_____________________________
Name:___________________________
Title:__________________________
-2-
<PAGE>
EXHIBIT H-1
MORTGAGE LOAN SCHEDULE FOR SUB-POOL 1
<PAGE>
Alliance Funding Company Page 1 9/16/96
A division of Superior Bank FSB
Sale Schedule
1996-3 Class 1 - Initial Pool of Fixed Rate Mortgages - Settlement 9/23/96
<TABLE>
<CAPTION>
Zip
Sale ID Account Name Address City State Code
- -----------------------------------------------------------------------------------------------------------------------------
<C> <C> <S> <C> <C> <C> <C>
BS15 10266104523 CRUZ SAMUEL 315 10TH STREET JERSEY CITY NJ 07302
BS15 10266108124 MILLER DAVID P MCLAIN ROAD ORISKANY FALLS NY 13425
BS15 10266108811 SONTUPE LOUIS R 5 MERHAM COURT TRENTON NJ 08619
BS15 10266109240 VIZZINI SALVATORE 73-50 70TH STREET GLENDALE NY 11385
BS15 10266110457 HUDGINS EMMA CARRIE 141 FULLER STREET SOMERSET NJ 08873
BS15 10266111064 SCANZO VINCENZA 371 ROOSEVELT STREET FAIRVIEW NJ 07022
BS15 10266111763 PRIETO JOE 48 SOUTH STREET JERSEY CITY NJ 07307
BS15 10266111864 AVENDANIO GENEROSO 449 FARNHAM AVENUE LODI NJ 07644
BS15 10266112736 VARBARO ANTHONY 33 HILLANDALE ROAD RYE BROOK NY 10573
BS15 10266113373 GOLDBERGER ROGER S 3909 DORA CIRCLE HARRISBURG PA 17110
BS15 10266113435 DREXLER JANE C 22 ALDA DRIVE POUGHKEEPSIE NY 12603
BS15 10266113474 FERRYMAN THERESA A 46 HALL AVENUE NEW LONDON CT 06320
BS15 10266114235 TROQUATO SAVERIO 14765 BIG BASIN WAY BOULDER CREEK CA 95006
BS15 10266114321 PETRIS GEORGE 2438 ATLANTIC BOULEVARD WANTAGH NY 11793
BS15 10266114400 SHAFFER WILLIAM C 6120 TUCKERMAN LANE COLORADO SPRINGS CO 80918
BS15 10266114454 MARNELL PAUL 25 HARROGATE STREET LIDO BEACH NY 11561
BS15 10266114534 PRINGLE HESTER 831 EAST 215TH STREET BRONX NY 10467
BS15 10266114544 CAVALLO GARY G 29 PITCAIRN DRIVE ROSELAND NJ 07068
BS15 10266114644 JEKER JEROME J III 1511 LOGAN BLVD S. NAPLES FL 33999
BS15 10266114655 PHILLIPS TALMADGE L 2600 JACKSON SPRINGS ROAD JACKSON SPRINGS NC 27281
BS15 10266114757 BROCKHOFF DAVID A 4911 SARDIS ROAD NEW KENSINGTON PA 15068
BS15 10266114773 JONES WILLIAM F 641 6TH STREET NORTH CLAIRTON PA 15025
BS15 10266114834 OLIVA SERGIO S 87-86 202ND STREET HOLLISWOOD NY 11423
BS15 10266115137 GALLAGHER KEVIN L 44 WALNUT STREET ALIQUIPPA PA 15001
BS15 10266115650 WRIGHT EDWARD R 11801 NEW HAMPSHIRE AVENUE SILVER SPRING MD 20904
BS15 10266115944 SMITH HARRY 528 FAIRVIEW AVENUE PENNDEL PA 19047
BS15 10266115993 KANO YOSHIO 10 ALPINE LANE CHAPPAQUA NY 10514
BS15 10266116050 NEWKIRK CLEMENTINE V 6912 BRIARCLIFF DRIVE CLINTON MD 20735
BS15 10266116154 GUTHRIE CAROLYN 361 13TH STREET NORTH SAINT PETERSBURG FL 33705
BS15 10266116178 KING RUSLYN P 221-21 MURDOCK AVENUE JAMAICA NY 11429
BS15 10266116349 RUSS ROSWITHA 4306 CHICOPA STREET NORTH PORT FL 34287
BS15 10266117074 SAYLOR JIMMY J 2603 OAK SUMMIT DRIVE JACKSONVILLE FL 32211
BS15 10266117080 LAROCCA YOLANDA 130-09 57TH ROAD FLUSHING NY 11355
BS15 10266117159 HOLLENBACH THEODORE S 3420 EAST PROSPECT ROAD YORK PA 17402
BS15 10266117886 WRIGHT DOROTHY 1710 WEST MONTVALE CHICAGO IL 60643
BS15 10266118101 DUE THOMAS H 6795 PINELLAS POINT DR S ST PETERSBURG FL 33712
BS15 10266118171 SHEPPARD BRADLEY W 15854 EAST CRESTRIDGE CIRCLE AURORA CO 80015
BS15 10266118215 STEVENS ROBERT W 9409 GLEN RIDGE DRIVE LAUREL MD 20723
BS15 10266118315 MITHAIWALA SABIHA 3091 NASSAU ROAD OCEANSIDE NY 11572
BS15 10266118365 WHITMER GEORGE E 1326 SOUTH 840 WEST WOODS CROSS UT 84087
BS15 10266118439 GUIMARAES ALEX PEREIRA 415 HOLLY ROAD VERO BEACH FL 32963
BS15 10266118584 MILLER SHERRI 4 ASTON COURT OWINGS MILLS MD 21117
BS15 10266118638 LUNSFORD CHRISTOPHER E 4336 YANCEY ROAD DOUGLASVILLE GA 30135
BS15 10266118649 KHLEIF ROD 1720 FRANKLIN STREET DENVER CO 80218
BS15 10266118697 BIRD LORNA RUTH 409 EDGEWOOD DRIVE COLORADO SPRINGS CO 80907
BS15 10266118794 BROWN KAREN RICHARDSON 1015 MONTLEY VIEW DRIVE ASHEBORO NC 27203
BS15 10266118813 HILLIER ROBERT E 36 SADDLE RIDGE DRIVE COLTS NECK NJ 07722
BS15 10266118891 CALHOUN WILLIE J 1090 NW 53RD STREET MIAMI FL 33127
BS15 10266118979 RIVERA PASTOR S 6161 40TH AVE N SAINT PETERSBURG FL 33709
BS15 10266119077 FRENCH JOSEPH P HCR 65 BOX215 LONG POND ROAD LONG POND PA 18334
BS15 10266119095 ADORNO RALPH M 10 ROSE STREET PUTNAM VALLEY NY 10579
BS15 10266119119 AZEEZ IMRAN 135-42 114TH PLACE SOUTH OZONE PARK NY 11420
BS15 10266119123 SHERMAN ALLAN 49 FIELDSTONE ROAD STATEN ISLAND NY 10304
BS15 10266119173 WALTER CONSTANCE R 4655 JULIAN ROAD SOUTHWEST PORT ORCHARD WA 98366
BS15 10266119197 BAKEWELL GEOFFREY H 23 TOWN FARM ROAD NEW MILFORD CT 06776
BS15 10266119297 SHARMA JOGINDER YASHPAL 108-28 64TH AVENUE FLUSHING NY 11375
BS15 10266119413 GEE FRANK H JR 808 TELLER LANE WOODLAND PARK CO 80866
BS15 10266119439 LAMPHERE WESLEY A 17 MISTUXET AVENUE STONINGTON CT 06355
BS15 10266119460 SCHAFFER SUE M 17 DORR STREET BRANFORD CT 06405
BS15 10266119518 SPAULDING RICHARD F 1344 SARATOGA DRIVE COLORADO SPRINGS CO 80910
BS15 10266119535 WILLIAMS DENNIS P 10 ACORN DRIVE HENDERSONVILLE NC 28792
BS15 10266119543 HICKS DOUGLAS D 332 OLD YORK ROAD NEW CUMBERLAND PA 17070
<CAPTION>
Principal Cut-off Date First
Balance at Principal Payment Maturity Rem
Sale ID Account Origination Balance Date Date Term
- ---------------------------------------------------------------------------------------------------------------------
<C> <C> <S> <C> <C> <C> <C>
BS15 10266104523 121,410.00 121,333.73 05/12/96 04/12/26 355.33
BS15 10266108124 35,000.00 34,757.18 07/28/96 06/28/11 177.86
BS15 10266108811 100,000.00 99,868.42 05/19/96 04/19/11 175.56
BS15 10266109240 117,800.00 117,779.32 07/05/96 06/05/11 177.11
BS15 10266110457 50,000.00 50,000.00 07/26/96 06/26/11 177.80
BS15 10266111064 93,000.00 92,923.82 07/26/96 06/26/11 177.80
BS15 10266111763 90,000.00 89,911.20 07/06/96 06/06/16 237.14
BS15 10266111864 67,000.00 67,000.00 07/05/96 06/05/11 177.11
BS15 10266112736 160,000.00 160,000.00 07/17/96 06/17/11 177.50
BS15 10266113373 65,000.00 65,000.00 08/01/96 07/01/11 178.00
BS15 10266113435 144,500.00 144,341.92 07/17/96 06/17/11 177.50
BS15 10266113474 25,800.00 25,761.26 06/16/96 05/16/11 176.45
BS15 10266114235 175,950.00 175,950.00 06/24/96 05/24/11 176.71
BS15 10266114321 25,000.00 24,904.22 07/07/96 06/07/11 177.17
BS15 10266114400 24,500.00 24,500.00 08/01/96 07/01/11 178.00
BS15 10266114454 67,000.00 66,871.41 07/17/96 06/17/11 177.50
BS15 10266114534 133,500.00 133,309.84 07/07/96 06/07/11 177.17
BS15 10266114544 240,000.00 239,898.08 07/25/96 06/25/11 177.76
BS15 10266114644 77,800.00 77,800.00 07/26/96 06/26/11 177.80
BS15 10266114655 29,000.00 28,743.80 07/26/96 06/26/11 177.80
BS15 10266114757 68,550.00 68,139.33 07/28/96 06/28/11 177.86
BS15 10266114773 30,240.00 30,240.00 07/03/96 06/03/11 177.04
BS15 10266114834 42,000.00 41,937.54 07/19/96 06/19/11 177.57
BS15 10266115137 23,000.00 22,868.95 08/02/96 07/02/06 117.99
BS15 10266115650 20,429.00 20,306.84 07/25/96 06/25/11 177.76
BS15 10266115944 42,750.00 42,590.85 07/25/96 06/25/11 177.76
BS15 10266115993 42,500.00 42,500.00 08/02/96 07/02/11 177.99
BS15 10266116050 140,400.00 140,177.17 07/26/96 06/26/26 357.80
BS15 10266116154 10,000.00 10,000.00 07/21/96 06/21/16 237.63
BS15 10266116178 148,770.00 148,770.00 07/27/96 06/27/26 357.83
BS15 10266116349 37,100.00 36,958.16 07/24/96 06/24/11 177.73
BS15 10266117074 41,200.00 40,772.53 07/26/96 06/26/11 177.80
BS15 10266117080 60,000.00 59,906.82 07/17/96 06/17/11 177.50
BS15 10266117159 35,000.00 34,884.35 07/25/96 06/25/16 237.76
BS15 10266117886 25,000.00 24,954.44 07/28/96 06/28/16 237.86
BS15 10266118101 65,000.00 64,928.32 07/26/96 06/26/11 177.80
BS15 10266118171 40,000.00 40,000.00 08/01/96 07/01/11 178.00
BS15 10266118215 45,000.00 44,876.47 07/13/96 06/13/11 177.37
BS15 10266118315 48,000.00 47,992.22 07/01/96 06/01/11 177.00
BS15 10266118365 135,000.00 135,000.00 07/12/96 06/12/26 357.34
BS15 10266118439 13,500.00 13,429.94 07/26/96 06/26/11 177.80
BS15 10266118584 500,000.00 500,000.00 07/12/96 06/12/11 177.34
BS15 10266118638 35,000.00 34,933.80 07/26/96 06/26/16 237.80
BS15 10266118649 42,700.00 42,700.00 07/14/96 06/14/11 177.40
BS15 10266118697 22,240.00 22,148.38 07/28/96 06/28/11 177.86
BS15 10266118794 20,000.00 19,817.37 07/26/96 06/26/06 117.80
BS15 10266118813 71,900.00 71,473.33 07/19/96 06/19/11 177.57
BS15 10266118891 48,750.00 48,750.00 07/27/96 06/27/11 177.83
BS15 10266118979 28,500.00 28,477.97 07/26/96 06/26/11 177.80
BS15 10266119077 13,900.00 13,858.09 07/21/96 06/21/11 177.63
BS15 10266119095 49,500.00 49,442.00 07/10/96 06/10/16 237.27
BS15 10266119119 27,000.00 26,862.50 07/24/96 06/24/11 177.73
BS15 10266119123 148,750.00 148,475.37 07/25/96 06/25/26 357.76
BS15 10266119173 114,000.00 114,000.00 07/28/96 06/28/11 177.86
BS15 10266119197 48,000.00 47,747.82 08/01/96 07/01/11 178.00
BS15 10266119297 195,000.00 195,000.00 07/25/96 06/25/11 177.76
BS15 10266119413 61,500.00 61,487.82 07/28/96 06/28/11 177.86
BS15 10266119439 117,300.00 117,300.00 07/28/96 06/28/11 177.86
BS15 10266119460 66,900.00 66,618.86 07/24/96 06/24/11 177.73
BS15 10266119518 54,500.00 54,354.57 07/25/96 06/25/11 177.76
BS15 10266119535 76,800.00 76,800.00 07/26/96 06/26/11 177.80
BS15 10266119543 48,000.00 47,851.45 07/24/96 06/24/11 177.73
<CAPTION>
Original Current Scheduled
Date LTV Mortgage Payment
Sale ID Account Due Ratio Rate Int & Prin
- ---------------------------------------------------------------------------------------------
BS15 10266104523 09/12/96 90.0 11.600 1,211.58
BS15 10266108124 09/28/96 34.6 9.150 358.12
BS15 10266108811 09/19/96 80.0 10.400 907.27
BS15 10266109240 09/05/96 70.9 10.500 1,077.56
BS15 10266110457 08/26/96 80.6 9.400 519.10
BS15 10266111064 09/26/96 75.0 10.250 833.37
BS15 10266111763 09/06/96 62.0 8.990 809.17
BS15 10266111864 09/05/96 36.8 14.990 846.64
BS15 10266112736 08/17/96 62.9 12.000 1,645.78
BS15 10266113373 09/01/96 41.0 10.450 716.50
BS15 10266113435 09/17/96 84.0 13.200 1,621.08
BS15 10266113474 09/16/96 85.0 11.350 298.94
BS15 10266114235 08/24/96 85.0 12.950 1,939.48
BS15 10266114321 09/07/96 82.6 13.350 322.09
BS15 10266114400 09/01/96 82.7 11.400 284.65
BS15 10266114454 09/17/96 78.0 11.500 782.69
BS15 10266114534 09/07/96 62.0 9.990 1,170.57
BS15 10266114544 08/25/96 75.0 11.990 2,466.82
BS15 10266114644 09/26/96 56.3 10.650 720.41
BS15 10266114655 09/26/96 48.9 10.200 315.19
BS15 10266114757 09/28/96 69.1 10.950 776.99
BS15 10266114773 09/03/96 85.0 11.500 353.26
BS15 10266114834 09/19/96 84.6 12.500 448.25
BS15 10266115137 09/02/96 56.0 11.990 329.85
BS15 10266115650 09/25/96 80.9 12.950 257.80
BS15 10266115944 09/25/96 89.9 11.150 489.93
BS15 10266115993 08/02/96 75.0 11.600 499.19
BS15 10266116050 09/26/96 90.0 10.850 1,321.17
BS15 10266116154 08/21/96 51.0 11.450 106.30
BS15 10266116178 08/27/96 85.5 11.500 1,473.26
BS15 10266116349 09/24/96 70.0 9.600 314.67
BS15 10266117074 09/26/96 69.8 10.500 455.42
BS15 10266117080 09/17/96 74.3 11.200 580.48
BS15 10266117159 09/25/96 87.6 10.500 349.43
BS15 10266117886 09/28/96 30.4 11.490 266.44
BS15 10266118101 09/26/96 58.0 10.150 577.64
BS15 10266118171 09/01/96 79.7 11.200 459.67
BS15 10266118215 09/13/96 89.8 10.650 501.62
BS15 10266118315 09/01/96 89.8 12.250 502.99
BS15 10266118365 08/12/96 88.8 11.750 1,362.70
BS15 10266118439 09/26/96 81.4 12.500 166.39
BS15 10266118584 09/12/96 66.6 11.250 4,856.31
BS15 10266118638 09/26/96 81.7 9.750 331.98
BS15 10266118649 08/14/96 70.0 10.700 396.99
BS15 10266118697 09/28/96 74.9 12.500 274.11
BS15 10266118794 09/26/96 31.2 10.650 271.55
BS15 10266118813 09/19/96 74.9 10.950 814.96
BS15 10266118891 08/27/96 75.0 10.850 549.51
BS15 10266118979 09/26/96 74.3 11.550 283.32
BS15 10266119077 09/21/96 79.4 10.400 152.79
BS15 10266119095 09/10/96 89.9 11.500 527.88
BS15 10266119119 09/24/96 89.6 11.250 311.13
BS15 10266119123 09/25/96 85.0 12.200 1,553.00
BS15 10266119173 08/28/96 61.6 9.900 992.02
BS15 10266119197 10/01/96 87.5 12.200 582.27
BS15 10266119297 08/25/96 65.0 10.950 1,849.67
BS15 10266119413 09/28/96 53.4 12.000 632.60
BS15 10266119439 08/28/96 85.0 13.200 1,315.93
BS15 10266119460 09/24/96 90.0 12.350 706.22
BS15 10266119518 09/25/96 36.8 12.000 654.09
BS15 10266119535 09/26/96 80.0 10.400 696.78
BS15 10266119543 09/24/96 75.0 9.650 505.58
</TABLE>
<PAGE>
Alliance Funding Company Page 2 9/16/96
A division of Superior Bank FSB
Sale Schedule
1996-3 Class 1 - Initial Pool of Fixed Rate Mortgages - Settlement 9/23/96
<TABLE>
<CAPTION>
Zip
Sale ID Account Name Address City State Code
- -----------------------------------------------------------------------------------------------------------------------------
<C> <C> <S> <C> <C> <C> <C>
BS15 10266119573 ELLIS KEITH E 600 CEDAR AVENUE DARBY PA 19023
BS15 10266119582 DARIUS MICHAEL N HAMMOND LANE PO BOX 209 CROWN POINT NY 12928
BS15 10266119631 RIVERA JOAQUIN P 402 KNIGHTS BRIDGE ROAD SPRING HILL FL 34609
BS15 10266119864 ROSE JENNIFER E 2742 BENNETT AVENUE EVANSTON IL 60201
BS15 10266119938 SCHNEIDER JOHN E 3030 HAPPY HOLLOW ROAD ASHEBORO NC 27203
BS15 10266119969 DUNDON LAWRENCE 841 EAST CHEROKEE AVENUE ORANGE CITY FL 32763
BS15 10266120027 CAGIGAS HUMBERTO 5250 SW 7TH STREET MIAMI FL 33134
BS15 10266120040 SHARMA JOGINDER 108-24 64TH AVENUE FLUSHING NY 11375
BS15 10266120119 SCHULTZ KASUMI 1549 RINGE LANE LAS VEGAS NV 89110
BS15 10266120123 MEDLOCK ANNA M 2555 S WANAMAKER STREET PHILADELPHIA PA 19143
BS15 10266120147 HOOPES LARRY A 171 TANNANBAUM WAY PALMYRA PA 17078
BS15 10266120153 SALAZAR ROSA 2876 LAMPORT PLACE BRONX NY 10465
BS15 10266120187 ORDANOFF NANCY L 6515 DANNER ROAD HARRISBURG PA 17112
BS15 10266120196 MCKINNON EUBULE DESMOND 947 ORLANDO AVENUE WEST HEMPSTEAD NY 11552
BS15 10266120215 MONTGOMERY HOWARD D 8317 78TH TERRACE NORTH LARGO FL 34647
BS15 10266120233 BAKER WILLIAM R 1268 WEST 600 NORTH SALT LAKE CITY UT 84116
BS15 10266120264 NALYWAJKO MYRA C 852 MARSHALL COURT PALATINE IL 60074
BS15 10266120269 BERGMANN JUDY M 971 DEARBORN CIRCLE CAROL STREAM IL 60188
BS15 10266120276 JEFFERSON ROBERT J 441 W. 104TH STREET CHICAGO IL 60628
BS15 10266120287 MORRIS JAMES T 15905 MILES AVENUE CLEVELAND OH 44128
BS15 10266120453 MEADOWS RICK 5457 SOUTH 3500 WEST SALT LAKE CITY UT 84118
BS15 10266120509 TYSON HUBERT DANIEL JR 833 DURWOOD DRIVE FAYETTEVILLE NC 28311
BS15 10266120565 MICHALSKI CHESTER 1945 SEVENTH STREET NEW BRUNSWICK NJ 08902
BS15 10266120581 CLAYTON MICHAEL A 10429 GEORGE SMITH ROAD LITHIA FL 33547
BS15 10266120709 RUNALS THOMAS 508 RICHMOND ROAD RICHMOND HEIGHTS, OH 44143
BS15 10266120842 WINBURN RICHARD A 1030 PAMELA DRIVE PLAINFIELD IN 46168
BS15 10266120997 WHYTE ROBERT JR 10 DOCK ROAD CHESTER CT 06412
BS15 10266121012 BRAGGS WILLIAM F 6010 SANTA FE DRIVE FAYETTEVILLE NC 28303
BS15 10266121014 BLUE JOSIAH JR 6515 TAREYTON ROAD FAYETTEVILLE NC 28314
BS15 10266121331 DRAKE STEVE 6 LEXINGTON COURT MEDFORD NJ 08055
BS15 10266121425 SKIDMORE KAREN 9 SPRUCE STREET EAST PATCHOGUE NY 11772
BS15 10266121518 DAWLEY DAVID EARL 6004 MEADOW LANE JACKSONVILLE FL 32277
BS15 10266121540 GUTSMIEDEL LLOYD F 10967 PEPPERTREE LANE PORT RICHEY FL 34668
BS15 10266121659 ROSALES JULIO 2958 N. FAIRFIELD CHICAGO IL 60618
BS15 10266121683 ECKHORN RICHARD 600 MENOMINEE DRIVE LAKE IN THE HILLS IL 60102
BS15 10266121900 AVELLINO DOMINIC 560 EDGE GROVE AVENUE STATEN ISLAND NY 10312
BS15 10266121961 RIGBY RICHARD G 622 SOUTH STATE RICHMOND UT 84333
BS15 10266122004 ANDERSON JOAN M 12465 DRYSDALE STREET SPRING HILL FL 34609
BS15 10266122194 PHAM HOANG B 6063 SOUTH 4520 WEST SALT LAKE CITY UT 84118
BS15 10266122242 TRKULJA VELJKO V 1607 JOHANNA TERRACE ARLINGTON HEIGHTS IL 60005
BS15 10266122351 MAYLIN BRENT F 1207 WEST 950 NORTH CLINTON UT 84015
BS15 10266122355 CHAU LIEM 3719 WEST SPRING VISTA DRIVE WEST VALLEY CITY UT 84120
BS15 10266122360 WILEY GERALD D JR 6678 WEST KINGS ESTATE DRIVE WEST VALLEY CITY UT 84120
BS15 10266122379 WINTER DAVID G 1812 NORTH CELIA WAY LAYTON UT 84041
BS15 10266122465 BERTOLETTE RUSSELL E 1116-1120 WEST 9TH AVENUE DENVER CO 80204
-------------------------------------------
107 Sale Total
<CAPTION>
Principal Cut-off Date First
Balance at Principal Payment Maturity Rem
Sale ID Account Origination Balance Date Date Term
- ---------------------------------------------------------------------------------------------------------------------
<C> <C> <S> <C> <C> <C> <C>
BS15 10266119573 40,000.00 40,000.00 07/27/96 06/27/16 237.83
BS15 10266119582 49,600.00 49,405.86 08/01/96 07/01/11 178.00
BS15 10266119631 130,000.00 130,000.00 07/28/96 06/28/11 177.86
BS15 10266119864 20,000.00 19,999.00 08/01/96 09/01/11 180.00
BS15 10266119938 57,600.00 57,142.25 07/26/96 06/26/16 237.80
BS15 10266119969 15,600.00 15,600.00 07/28/96 06/28/11 177.86
BS15 10266120027 20,000.00 19,716.23 08/01/96 07/01/11 178.00
BS15 10266120040 149,500.00 149,500.00 07/25/96 06/25/11 177.76
BS15 10266120119 107,950.00 106,980.53 07/24/96 06/24/26 357.73
BS15 10266120123 33,750.00 33,741.96 07/07/96 06/07/11 177.17
BS15 10266120147 99,000.00 99,000.00 08/01/96 07/01/16 238.00
BS15 10266120153 211,500.00 211,500.00 07/25/96 06/25/26 357.76
BS15 10266120187 32,000.00 31,801.46 07/26/96 06/26/11 177.80
BS15 10266120196 32,500.00 31,867.56 07/26/96 06/26/11 177.80
BS15 10266120215 45,933.00 45,916.83 07/25/96 06/25/11 177.76
BS15 10266120233 58,450.00 58,450.00 07/25/96 06/25/11 177.76
BS15 10266120264 120,000.00 120,000.00 07/25/96 06/25/26 357.76
BS15 10266120269 65,000.00 64,887.54 07/25/96 06/25/16 237.76
BS15 10266120276 23,500.00 23,468.56 08/01/96 07/01/16 238.00
BS15 10266120287 60,800.00 60,800.00 08/01/96 07/01/16 238.00
BS15 10266120453 116,000.00 116,000.00 07/28/96 06/28/26 357.86
BS15 10266120509 32,500.00 32,064.19 07/26/96 06/26/06 117.80
BS15 10266120565 152,000.00 152,000.00 07/17/96 06/17/11 177.50
BS15 10266120581 97,000.00 95,938.00 07/28/96 06/28/26 357.86
BS15 10266120709 123,300.00 123,300.00 07/27/96 06/27/26 357.83
BS15 10266120842 101,100.00 101,100.00 07/25/96 06/25/26 357.76
BS15 10266120997 36,000.00 35,905.50 07/28/96 06/28/11 177.86
BS15 10266121012 64,600.00 64,600.00 07/26/96 06/26/11 177.80
BS15 10266121014 58,500.00 58,061.34 07/26/96 06/26/26 357.80
BS15 10266121331 50,000.00 50,000.00 07/24/96 06/24/11 177.73
BS15 10266121425 26,000.00 25,808.84 07/17/96 06/17/06 117.50
BS15 10266121518 48,000.00 47,741.18 07/25/96 06/25/11 177.76
BS15 10266121540 46,600.00 46,471.06 07/25/96 06/25/16 237.76
BS15 10266121659 187,000.00 186,860.16 08/01/96 07/01/11 178.00
BS15 10266121683 93,700.00 93,527.15 08/01/96 07/01/26 358.00
BS15 10266121900 170,000.00 169,936.93 08/01/96 07/01/26 358.00
BS15 10266121961 24,139.00 24,139.00 07/14/96 06/14/11 177.40
BS15 10266122004 16,900.00 16,754.82 07/27/96 06/27/16 237.83
BS15 10266122194 32,000.00 31,901.19 07/17/96 06/17/11 177.50
BS15 10266122242 50,000.00 50,000.00 08/01/96 07/01/26 358.00
BS15 10266122351 42,700.00 42,562.76 07/18/96 06/18/11 177.53
BS15 10266122355 19,000.00 18,868.60 07/18/96 06/18/11 177.53
BS15 10266122360 49,500.00 49,375.77 07/18/96 06/18/11 177.53
BS15 10266122379 41,820.00 41,441.59 07/19/96 06/19/11 177.57
BS15 10266122465 42,100.00 42,066.82 07/27/96 06/27/11 177.83
--------------------------------------------------------- -------------
107 7,839,081.00 7,826,190.14 226.46
<CAPTION>
Original Current Scheduled
Date LTV Mortgage Payment
Sale ID Account Due Ratio Rate Int & Prin
- ---------------------------------------------------------------------------------------------
BS15 10266119573 08/27/96 80.0 13.490 482.66
BS15 10266119582 10/01/96 80.0 12.500 529.36
BS15 10266119631 08/28/96 84.9 9.900 1,131.25
BS15 10266119864 09/01/96 54.0 11.350 230.77
BS15 10266119938 09/26/96 80.0 9.200 525.67
BS15 10266119969 08/28/96 79.9 12.700 194.31
BS15 10266120027 09/01/96 84.9 9.500 168.17
BS15 10266120040 08/25/96 65.0 10.950 1,418.08
BS15 10266120119 10/24/96 85.0 12.200 1,127.03
BS15 10266120123 09/07/96 75.0 11.750 340.68
BS15 10266120147 09/01/96 56.7 11.490 1,055.08
BS15 10266120153 08/25/96 90.0 10.750 1,974.31
BS15 10266120187 09/26/96 32.4 9.900 341.92
BS15 10266120196 10/26/96 90.0 11.400 377.60
BS15 10266120215 08/25/96 80.0 12.950 506.32
BS15 10266120233 08/25/96 64.9 10.950 554.43
BS15 10266120264 09/25/96 75.0 9.990 1,052.20
BS15 10266120269 09/25/96 40.6 10.850 664.30
BS15 10266120276 09/01/96 74.2 13.740 287.80
BS15 10266120287 09/01/96 80.0 13.240 722.74
BS15 10266120453 08/28/96 89.9 11.150 1,117.86
BS15 10266120509 09/26/96 65.4 11.000 447.69
BS15 10266120565 08/17/96 74.1 10.390 1,377.92
BS15 10266120581 10/28/96 55.4 11.450 956.88
BS15 10266120709 08/27/96 90.0 11.650 1,235.16
BS15 10266120842 08/25/96 84.9 11.750 1,020.51
BS15 10266120997 09/28/96 81.7 12.800 450.76
BS15 10266121012 08/26/96 85.0 11.750 652.08
BS15 10266121014 09/26/96 90.0 11.150 563.75
BS15 10266121331 08/24/96 80.3 9.750 529.68
BS15 10266121425 09/17/96 84.3 11.990 372.87
BS15 10266121518 09/25/96 90.0 10.690 536.26
BS15 10266121540 09/25/96 52.3 11.490 496.64
BS15 10266121659 09/01/96 85.0 12.200 1,952.34
BS15 10266121683 10/01/96 74.9 11.990 963.09
BS15 10266121900 09/01/96 73.9 9.250 1,398.55
BS15 10266121961 08/14/96 71.9 15.350 343.65
BS15 10266122004 09/27/96 84.9 12.750 194.99
BS15 10266122194 09/17/96 84.3 12.350 391.29
BS15 10266122242 09/01/96 76.9 11.200 483.73
BS15 10266122351 09/18/96 89.0 12.200 517.98
BS15 10266122355 09/18/96 78.3 12.350 232.33
BS15 10266122360 09/18/96 74.4 13.900 655.89
BS15 10266122379 09/19/96 87.1 12.600 518.17
BS15 10266122465 09/27/96 69.9 10.990 400.61
------------------ -------------------------------------------
107 74.9 11.326 80,194.51
</TABLE>
<PAGE>
Alliance Funding Company Page 3 9/16/96
A division of Superior Bank FSB
Sale Schedule
1996-3 Class 1 - Initial Pool of Fixed Rate Mortgages - Settlement 9/23/96
<TABLE>
<CAPTION>
Zip
Sale ID Account Name Address City State Code
- -----------------------------------------------------------------------------------------------------------------------------
<C> <C> <S> <C> <C> <C> <C>
BS18 10266105573 KAVMARK STAFFAN B 399 WEST 2325 NORTH LEHI UT 84043
BS18 10266105765 FREDES GENARO 204 48TH ST #2R UNION CITY NJ 07087
BS18 10266108069 MONHEIT NEIL H 1865 EAST 23RD STREET BROOKLYN NY 11229
BS18 10266108270 CALIA VICTOR 17 KRISTI LANE LAKE GROVE NY 11755
BS18 10266109824 RHODES STANLEY P 2 HARRISON AVENUE EAST HAMPTON NY 11937
BS18 10266110293 BRANCO DANIEL M 20-22 KINGSTON STREET WEST HARTFORD CT 06119
BS18 10266110673 DEXTER JERRY E 7817 WEST MAYTIME DRIVE MAGNA UT 84044
BS18 10266110919 RASBAND KEVIN L 1907 WEST WESTERN CHARM DRIVE RIVERTON UT 84065
BS18 10266111487 CHURCH JEFFREY J 3508 JEFFERSON AVENUE OGDEN UT 84403
BS18 10266111892 BLAIR JOY 16 OLD SADDLE ROAD RIDGE NY 11961
BS18 10266111898 RAUSO RICHARD 723 CORRELL AVENUE STATEN ISLAND NY 10309
BS18 10266112277 GREENBERG SHERRIE G 1200 WOODLAWN DRIVE MARIETTA GA 30068
BS18 10266112343 CLUFF GREGGORY RYDALCH 1379 WEST 10750 SOUTH SOUTH JORDAN UT 84095
BS18 10266112928 TERRAGLIA GIOVANNI 1751 HAWAII COURT MARCO ISLAND FL 33937
BS18 10266112967 THARP WAYNE A 4879 SOUTH SOUTHRIDGE DRIVE SALT LAKE CITY UT 84118
BS18 10266113192 CARATURE DAVID 21 ROCKWOOD AVENUE ANSONIA CT 06401
BS18 10266113417 KUNARD ALLEN D 2827 WEST 11800 SOUTH RIVERTON UT 84065
BS18 10266113648 MOLLICK JAMES F 11 4TH STREET GRAPEVILLE PA 15634
BS18 10266113727 WILKINS SANDRA E 93 WALNUT HILL ROAD BETHEL CT 06801
BS18 10266113865 HALTER NANCY L 109 JASPER DRIVE SECURITY CO 80911
BS18 10266114003 CARSON CHARLOTTE E 542 PAIGE STREET SCHENECTADY NY 12307
BS18 10266114023 POWELL LAWRENCE E 2630 MAGNOLIA STREET DENVER CO 80207
BS18 10266114251 HUMPHERYS KERRY LEES 27 SOUTH SAGE DRIVE OREM UT 84058
BS18 10266114411 OXBORROW DAVID R 1878 SOUTH NEVADA AVENUE PROVO UT 84601
BS18 10266114593 IOANE OFA 1202 EAST 500 SOUTH SPANISH FORK UT 84660
BS18 10266114603 EMMETT CRAIG R 5056 WEST PARR DRIVE WEST JORDAN UT 84088
BS18 10266114872 VITIELLO EVA MARIE 76 HARRISON STREET NUTLEY NJ 07110
BS18 10266114953 CERNYAR ANGELA 42 SPIRAL ROAD HOLTSVILLE NY 11742
BS18 10266115339 LINDSEY YON H 2037 193RD AVENUE SOUTHEAST ISSAQUAH WA 98029
BS18 10266115414 SASSER MICHAEL E 121 SOUTH FAIRVIEW CIRCLE TARBORO NC 27886
BS18 10266115461 EWELL GLEN L 999 NORTH STAR CREST DRIVE SALT LAKE CITY UT 84116
BS18 10266115494 QUINN GENE J 6649 NORTH OTTAWA AVENUE CHICAGO IL 60631
BS18 10266115606 AL GHAZALI ALI 3711 NEPTUNE AVENUE BROOKLYN NY 11224
BS18 10266115679 CAMPBELL G WESLEY 222 SOUTH 250 EAST HYDE PARK UT 84318
BS18 10266115681 CORBRIDGE BLAKE W 2039 TAYLOR AVENUE OGDEN UT 84401
BS18 10266115943 ZULKA FRANCIS C 630 VENETIA ROAD VENETIA PA 15367
BS18 10266116039 COOPER JAN 1431 CUMBRES STREET NE ALBUQUERQUE NM 87112
BS18 10266116136 BARNETT MICHAEL E 2097 EL CAMINO MESETA FOUNTAIN CO 80817
BS18 10266116143 SANNAR STEVEN L 2702 SOUTH 200 WEST BOUNTIFUL UT 84010
BS18 10266116168 CHAVEZ DAVID A 1950 AMBLESIDE DRIVE COLORADO SPRINGS CO 80915
BS18 10266116310 EDWARDS DENNIS F 18572 EAST TANFORAN PLACE AURORA CO 80015
BS18 10266116355 HERNANDEZ SONIA M 505 6TH AVENUE BROOKLYN NY 11215
BS18 10266117039 CHRIMES DAVID 2201 MAY STREET PITTSBURGH PA 15235
BS18 10266117248 PRICE RICHARD J 2489 WEST PINE MEADOW PLACE SALT LAKE CITY UT 84118
BS18 10266117269 ALLEN STACEY L 5344 JULINGTON RIDGE DRIVE JACKSONVILLE FL 32258
BS18 10266117859 SELLS RUTH 5025 DEER RUN PLACE WESTERVILLE OH 43081
BS18 10266118108 BOLTON KARL J 10979 SOUTH SEGOVIA CIRCLE SANDY UT 84094
BS18 10266118172 FULMER DEBORAH L 3024 ORCHARD LANE MIDDLETOWN PA 17057
BS18 10266118228 KELLY SUSAN M PARTITION STREET EXT RENSSELAER NY 12144
BS18 10266118252 FLEEK KEVIN F 15630 156TH PLACE SOUTHEAST RENTON WA 98058
BS18 10266118373 HOWER RAY C 3505 NORTH PLAIN CITY ROAD PLAIN CITY UT 84404
BS18 10266118412 AGUILAR MIKE E 10307 CORNELIA COURT SW ALBUQUERQUE NM 87105
BS18 10266118419 FOSTER JOHN B 19042 EVERGREEN ROAD FORT MYERS FL 33912
BS18 10266118475 CHUDOBA MICHAEL L 64 BROOKSIDE STREET WILKES-BARRE PA 18705
BS18 10266118482 VUOTTO DOLORES ANN 722 CHAIN STREET NORRISTOWN PA 19401
BS18 10266118521 CARSON DENNIS J 302 SPRING STREET OSSINING NY 10562
BS18 10266118570 DIMM GEORGE P 4305 CENTRAL AVENUE HARRISBURG PA 17112
BS18 10266118639 GARNER J LARRY 520 SHAMROCK LANE CUMMING GA 30131
BS18 10266118653 MACK KARL 106 MARINGO RD EPHRATA WA 98823
BS18 10266118654 SMITH WILLIAM A 402 ELIAS DRIVE PITTSBURGH PA 15235
BS18 10266118656 JOHNSON GREGORY D 7998 RALEIGH STREET WESTMINSTER CO 80030
BS18 10266118845 DAVIS JO ANN R 215 SW 72ND PLACE OCALA FL 34476
<CAPTION>
Principal Cut-off Date First
Balance at Principal Payment Maturity Rem
Sale ID Account Origination Balance Date Date Term
- ---------------------------------------------------------------------------------------------------------------------
<C> <C> <S> <C> <C> <C> <C>
BS18 10266105573 24,000.00 23,927.98 06/07/96 05/07/11 176.15
BS18 10266105765 25,850.00 25,823.02 08/02/96 07/02/11 177.99
BS18 10266108069 47,500.00 47,493.62 07/04/96 06/04/11 177.07
BS18 10266108270 32,000.00 31,943.88 07/07/96 06/07/16 237.17
BS18 10266109824 20,750.00 20,739.79 06/06/96 05/06/11 176.12
BS18 10266110293 76,500.00 76,500.00 07/01/96 06/01/26 357.00
BS18 10266110673 32,280.00 32,174.16 06/17/96 05/17/11 176.48
BS18 10266110919 37,750.00 37,750.00 06/24/96 05/24/11 176.71
BS18 10266111487 55,000.00 55,000.00 07/05/96 06/05/16 237.11
BS18 10266111892 35,000.00 34,966.19 07/28/96 06/28/16 237.86
BS18 10266111898 15,500.00 15,488.46 07/05/96 06/05/11 177.11
BS18 10266112277 54,350.00 54,335.46 05/23/96 04/23/11 175.69
BS18 10266112343 50,000.00 49,335.24 06/13/96 05/13/11 176.35
BS18 10266112928 23,000.00 22,872.48 08/03/96 07/03/11 178.03
BS18 10266112967 23,650.00 23,606.36 07/12/96 06/12/11 177.34
BS18 10266113192 57,400.00 57,257.32 07/25/96 06/25/11 177.76
BS18 10266113417 33,600.00 33,363.02 07/05/96 06/05/11 177.11
BS18 10266113648 40,000.00 40,000.00 08/02/96 07/02/26 357.99
BS18 10266113727 15,000.00 14,860.40 08/03/96 07/03/11 178.03
BS18 10266113865 25,000.00 24,982.91 08/09/96 07/09/11 178.22
BS18 10266114003 34,200.00 34,200.00 08/03/96 07/03/11 178.03
BS18 10266114023 40,000.00 40,000.00 08/09/96 07/09/11 178.22
BS18 10266114251 56,500.00 56,288.93 07/04/96 06/04/11 177.07
BS18 10266114411 26,600.00 25,839.95 06/23/96 05/23/11 176.68
BS18 10266114593 51,250.00 50,558.61 07/01/96 06/01/11 177.00
BS18 10266114603 32,500.00 31,885.49 06/28/96 05/28/11 176.84
BS18 10266114872 137,600.00 137,368.50 07/28/96 06/28/16 237.86
BS18 10266114953 60,000.00 59,852.86 08/01/96 07/01/16 238.00
BS18 10266115339 34,150.00 34,150.00 08/02/96 07/02/16 237.99
BS18 10266115414 34,400.00 34,387.53 08/03/96 07/03/16 238.03
BS18 10266115461 31,600.00 31,513.57 07/06/96 06/06/11 177.14
BS18 10266115494 20,000.00 19,900.36 08/01/96 07/01/11 178.00
BS18 10266115606 120,000.00 119,775.39 07/25/96 06/25/11 177.76
BS18 10266115679 20,000.00 20,000.00 07/12/96 06/12/11 177.34
BS18 10266115681 23,100.00 23,015.19 07/01/96 06/01/11 177.00
BS18 10266115943 40,000.00 40,000.00 07/21/96 06/21/11 177.63
BS18 10266116039 108,750.00 108,564.68 07/24/96 06/24/11 177.73
BS18 10266116136 26,500.00 26,357.51 07/28/96 06/28/11 177.86
BS18 10266116143 51,880.00 51,765.50 07/10/96 06/10/11 177.27
BS18 10266116168 44,900.00 44,900.00 08/02/96 07/02/11 177.99
BS18 10266116310 25,000.00 24,833.66 08/01/96 07/01/11 178.00
BS18 10266116355 180,000.00 180,000.00 07/28/96 06/28/11 177.86
BS18 10266117039 25,000.00 24,997.60 07/27/96 06/27/26 357.83
BS18 10266117248 27,000.00 27,000.00 07/11/96 06/11/11 177.30
BS18 10266117269 84,800.00 84,800.00 07/25/96 06/25/11 177.76
BS18 10266117859 45,000.00 44,894.29 07/28/96 06/28/11 177.86
BS18 10266118108 66,500.00 66,335.80 07/05/96 06/05/11 177.11
BS18 10266118172 60,000.00 59,833.16 08/03/96 07/03/16 238.03
BS18 10266118228 32,750.00 32,685.52 08/08/96 07/08/11 178.19
BS18 10266118252 18,350.00 18,341.50 07/26/96 06/26/11 177.80
BS18 10266118373 11,795.00 11,737.71 07/19/96 06/19/11 177.57
BS18 10266118412 68,425.00 68,071.10 07/18/96 06/18/11 177.53
BS18 10266118419 45,000.00 44,800.37 08/08/96 07/08/11 178.19
BS18 10266118475 32,500.00 32,441.01 08/01/96 07/01/16 238.00
BS18 10266118482 38,250.00 38,102.42 07/25/96 06/25/11 177.76
BS18 10266118521 25,500.00 25,248.94 08/08/96 07/08/11 178.19
BS18 10266118570 65,600.00 65,455.59 07/25/96 06/25/16 237.76
BS18 10266118639 55,000.00 55,000.00 07/01/96 06/01/11 177.00
BS18 10266118653 85,000.00 85,000.00 07/19/96 06/19/26 357.57
BS18 10266118654 45,500.00 45,500.00 08/01/96 07/01/11 178.00
BS18 10266118656 27,000.00 27,000.00 08/09/96 07/09/11 178.22
BS18 10266118845 69,700.00 69,700.00 08/03/96 07/03/26 358.03
<CAPTION>
Original Current Scheduled
Date LTV Mortgage Payment
Sale ID Account Due Ratio Rate Int & Prin
- ---------------------------------------------------------------------------------------------
BS18 10266105573 10/07/96 81.4 12.940 264.36
BS18 10266105765 10/02/96 55.0 10.450 235.49
BS18 10266108069 09/04/96 79.9 10.650 529.49
BS18 10266108270 09/07/96 79.6 12.850 371.49
BS18 10266109824 09/06/96 74.9 12.700 224.68
BS18 10266110293 09/01/96 85.0 11.950 783.95
BS18 10266110673 09/17/96 90.0 12.350 340.76
BS18 10266110919 09/24/96 89.6 12.350 398.50
BS18 10266111487 09/05/96 73.3 14.350 697.96
BS18 10266111892 08/28/96 29.1 11.100 363.65
BS18 10266111898 09/05/96 79.9 13.700 203.31
BS18 10266112277 09/23/96 70.7 12.300 571.63
BS18 10266112343 09/13/96 74.5 13.350 566.81
BS18 10266112928 09/03/96 82.4 9.950 246.46
BS18 10266112967 09/12/96 84.9 12.390 250.39
BS18 10266113192 09/25/96 70.0 10.600 529.36
BS18 10266113417 09/05/96 81.4 10.940 318.46
BS18 10266113648 09/02/96 66.6 11.850 406.83
BS18 10266113727 09/03/96 23.4 11.200 145.12
BS18 10266113865 09/09/96 67.3 12.500 308.13
BS18 10266114003 08/03/96 60.0 12.990 378.05
BS18 10266114023 09/09/96 82.5 12.250 419.16
BS18 10266114251 10/04/96 84.8 13.700 656.06
BS18 10266114411 09/23/96 87.8 12.850 291.13
BS18 10266114593 10/01/96 85.0 13.700 595.10
BS18 10266114603 10/28/96 74.6 11.090 311.72
BS18 10266114872 09/28/96 80.9 10.200 1,346.15
BS18 10266114953 10/01/96 43.1 10.500 599.03
BS18 10266115339 09/02/96 89.8 11.650 367.72
BS18 10266115414 09/03/96 80.0 9.900 329.69
BS18 10266115461 10/06/96 84.9 10.850 297.36
BS18 10266115494 09/01/96 43.3 9.500 208.84
BS18 10266115606 09/25/96 70.5 10.990 1,141.88
BS18 10266115679 08/12/96 70.3 12.400 211.90
BS18 10266115681 10/01/96 89.9 12.340 243.67
BS18 10266115943 08/21/96 79.4 13.990 532.43
BS18 10266116039 09/24/96 75.0 10.500 994.78
BS18 10266116136 09/28/96 89.9 11.650 312.10
BS18 10266116143 09/10/96 84.9 13.700 602.41
BS18 10266116168 09/02/96 84.3 12.250 546.12
BS18 10266116310 09/01/96 79.1 10.000 268.65
BS18 10266116355 08/28/96 80.0 10.700 1,673.50
BS18 10266117039 09/27/96 67.5 10.900 236.19
BS18 10266117248 08/11/96 84.9 13.200 302.90
BS18 10266117269 08/25/96 80.0 12.600 911.62
BS18 10266117859 08/28/96 58.0 10.500 497.43
BS18 10266118108 09/05/96 89.8 12.600 714.89
BS18 10266118172 10/03/96 48.0 11.490 639.44
BS18 10266118228 09/08/96 66.7 10.000 287.40
BS18 10266118252 08/26/96 90.0 12.150 222.00
BS18 10266118373 09/19/96 89.9 12.350 144.23
BS18 10266118412 09/18/96 85.0 9.500 575.35
BS18 10266118419 09/08/96 62.5 11.350 440.49
BS18 10266118475 09/01/96 56.5 9.250 297.66
BS18 10266118482 09/25/96 69.5 11.750 386.10
BS18 10266118521 10/08/96 89.5 11.400 296.27
BS18 10266118570 09/25/96 76.6 9.650 617.92
BS18 10266118639 09/01/96 68.7 10.250 492.86
BS18 10266118653 09/19/96 80.9 9.350 705.44
BS18 10266118654 09/01/96 65.0 9.650 387.58
BS18 10266118656 09/09/96 78.1 11.450 266.35
BS18 10266118845 09/03/96 85.0 11.400 684.92
</TABLE>
<PAGE>
Alliance Funding Company Page 4 9/16/96
A division of Superior Bank FSB
Sale Schedule
1996-3 Class 1 - Initial Pool of Fixed Rate Mortgages - Settlement 9/23/96
<TABLE>
<CAPTION>
Zip
Sale ID Account Name Address City State Code
- -----------------------------------------------------------------------------------------------------------------------------
<C> <C> <S> <C> <C> <C> <C>
BS18 10266118846 LEWIS LELAND HERBERT 7135 NORTH COLUMBIA BOULEVARD PORTLAND OR 97203
BS18 10266118865 CAREY MARGOTT 5272 WEST WAKE ROBIN DRIVE WEST JORDAN UT 84084
BS18 10266118951 STALNAKER PAMELA F 7286 WEST GETTYSBURG DRIVE MAGNA UT 84044
BS18 10266118966 PANOWITZ BONNY L 5263 WERTZ ROAD HAMPSTEAD MD 21074
BS18 10266118970 TANKSLEY ROGER 20451 LOGAN AVENUE ESTERO FL 33928
BS18 10266119021 PADILLA AMADO H 4252 LOWELL BOULEVARD DENVER CO 80211
BS18 10266119022 LIDBERG SHELLY K 802 FOREST AVENUE CANON CITY CO 81212
BS18 10266119111 SWEET PAULA 5664 NORTH KINGSFORD AVENUE PARK CITY UT 84098
BS18 10266119135 GAFFAN ALAN 450 SECOND AVENUE WEST HAVEN CT 06518
BS18 10266119230 HARBERG SHAWN L 3366 SOUTH STUART STREET DENVER CO 80236
BS18 10266119245 DIXON KEVIN J 560 VAN KIRK STREET PHILADELPHIA PA 19120
BS18 10266119246 FLEURANT MAGGIE 357 EAST 95TH STREET BROOKLYN NY 11210
BS18 10266119300 MONTERO THOMAS 3 BURNS COURT GREENLAWN NY 11740
BS18 10266119310 CUNNINGHAM GRETCHEN 5638 AULD LANE HOLIDAY FL 34690
BS18 10266119432 MONK MICHAEL J 48 CONNECTICUT DRIVE PLAINFIELD CT 06374
BS18 10266119453 GOLEMAN MICHAEL F 2931 SOUTH OREGON STREET SALT LAKE CITY UT 84106
BS18 10266119556 SWEETEN CAROLYN 5031 32ND AVENUE SOUTHWEST NAPLES FL 33999
BS18 10266119588 GLENN BARBARA 6024 JEFFERSON STREET PHILADELPHIA PA 19151
BS18 10266119667 HOUSTON REMUS III 26 BROOKS TERRACE ROAD GLEN BURNIE MD 21060
BS18 10266119680 MARTINEZ EDWARD R 1604 GARWOOD DRIVE PUEBLO CO 81005
BS18 10266119700 ATWOOD ERNEST LEO 1812 LACOMBE AVENUE NEW YORK NY 10473
BS18 10266119731 KELLY RAYMOND M 70-34 57TH ROAD MASPETH NY 11378
BS18 10266119768 HOEFKE PAUL G 1208 HALL AVENUE LAKEWOOD OH 44107
BS18 10266119804 FRANZ JAMES C 2304 BROOK HAVEN LANE HINCKLEY OH 44233
BS18 10266119806 JANKEN LYNN WALTER 7232 NORTH OCTAVIA CHICAGO IL 60631
BS18 10266119819 CONNER BARBARA S 1329 NORRIS DRIVE COLUMBUS OH 43224
BS18 10266119834 SMITH BOBBIE 5418 S. HERMITAGE CHICAGO IL 60609
BS18 10266119847 FLEWELLEN CARL E 35 WEST 149TH STREET DOLTON IL 60419
BS18 10266119881 PIEPER DARREL G 3819 ELDER ISLAND LAKE IL 60042
BS18 10266119891 ROHDE JENELE M 3903 HALE LANE ISLAND LAKE IL 60042
BS18 10266119914 LICHAY STEVEN G 569 ANDY DRIVE MELROSE PARK IL 60160
BS18 10266119953 HAUSER WILLIAM G 3195 EAST MAXINE DRIVE LAYTON UT 84040
BS18 10266119955 FJELD PAUL A 1845 COLLYER STREET LONGMONT CO 80501
BS18 10266120002 HUFFAKER R DALE 79 EAST HIGHWAY 199 RUSH VALLEY UT 84069
BS18 10266120009 GARDINER A IRENE 2054 SUNRAY CIRCLE WEST LINN OR 97068
BS18 10266120036 HAGGERTY MICHAEL P 38 THOMAS ROAD SOUND BEACH NY 11789
BS18 10266120064 ROACH ROBERT OWEN 272 NORTH NEW STAR DRIVE SALT LAKE CITY UT 84116
BS18 10266120075 MENRATH STEPHEN G 11312 207TH AVENUE COURT EAST SUMNER WA 98390
BS18 10266120110 FILIPPI PETER 2441 DEVON STREET EAST MEADOW NY 11554
BS18 10266120112 GOLDBERG DARIN J 130 SE 12TH PLACE CAPE CORAL FL 33990
BS18 10266120133 CHAN HOK 18 GARRY KNOLLS STREET DANBURY CT 06810
BS18 10266120141 HILDICK ROBERT C 653 DAVE MARION ROAD DOVER(TOMS RIVER) NJ 08753
BS18 10266120183 SCHEAFFER ROBERT C 283 HANNAHSTOWN ROAD CABOT PA 16023
BS18 10266120231 BAKER WILLIAM RAY 507 NORTH 200 WEST SALT LAKE CITY UT 84103
BS18 10266120252 SCHNEIDER THOMAS M 1637 WEST CHASE UNIT 2E CHICAGO IL 60626
BS18 10266120266 MALINA MICHAEL G 6247 BOCA RIO DRIVE OAK FOREST IL 60452
BS18 10266120418 KERNODLE MICHAEL SCOTT 4232 SOUTH MARQUIS WAY SALT LAKE CITY UT 84124
BS18 10266120423 FULTON ANDREA L 787 HIGH STREET BRESSLER-STEELTON PA 17113
BS18 10266120442 DURBAK ANDRES 5700 W. ROSCOE ST. CHICAGO IL 60634
BS18 10266120540 BOGART JACKSON H 11668 OVAL DRIVE EAST LARGO FL 34644
BS18 10266120562 HEINER EMORY E JR RD2 BOX 2665 SPRING GROVE PA 17362
BS18 10266120579 VOLZKE ROY D 6720 WEST 4TH PLACE LAKEWOOD CO 80026
BS18 10266120674 PARK JUNG IHN 3730 WEST LINNEMAN GLENVIEW IL 60025
BS18 10266120684 JEFFERIES ROBERT 6853 S. LANGLEY CHICAGO IL 60637
BS18 10266120828 NEWTON WILLIAM O 524 CONCORD COURT FISHERS IN 46038
BS18 10266120888 NEAL GEORGE E 2427 94TH PLACE SOUTHEAST EVERETT WA 98208
BS18 10266120951 COHEN ISRAEL 60 STIRRUP LANE MUTTONTOWN NY 11791
BS18 10266120957 MUELLER MARK T 7605 SE 66TH PLACE PORTLAND OR 97206
BS18 10266121013 GUADNOLA DAVID R 3284 SALEM STREET AURORA CO 80011
BS18 10266121016 CASTILLO HECTOR 4878 WEST MILOS DRIVE WEST VALLEY CITY UT 84120
BS18 10266121036 RANSBOTTOM TERRY G 561 KEENE ROAD N LARGO FL 34641
BS18 10266121252 WALKER SANDRA L 3419 HARTWOOD ROAD CLEVELAND HEIGHTS OH 44112
<CAPTION>
Principal Cut-off Date First
Balance at Principal Payment Maturity Rem
Sale ID Account Origination Balance Date Date Term
- ---------------------------------------------------------------------------------------------------------------------
<C> <C> <S> <C> <C> <C> <C>
BS18 10266118846 12,300.00 12,300.00 08/03/96 07/03/11 178.03
BS18 10266118865 35,000.00 34,831.84 08/02/96 07/02/11 177.99
BS18 10266118951 38,800.00 38,714.30 07/10/96 06/10/11 177.27
BS18 10266118966 57,000.00 57,000.00 08/02/96 07/02/26 357.99
BS18 10266118970 10,000.00 10,000.00 08/09/96 07/09/11 178.22
BS18 10266119021 16,000.00 16,000.00 08/01/96 07/01/11 178.00
BS18 10266119022 57,750.00 57,472.37 08/03/96 07/03/11 178.03
BS18 10266119111 19,485.00 19,485.00 08/08/96 07/08/11 178.19
BS18 10266119135 60,000.00 60,000.00 07/28/96 06/28/26 357.86
BS18 10266119230 16,200.00 16,195.27 08/09/96 07/09/11 178.22
BS18 10266119245 12,325.00 12,160.01 07/28/96 06/28/11 177.86
BS18 10266119246 176,000.00 176,000.00 08/01/96 07/01/11 178.00
BS18 10266119300 39,000.00 39,000.00 07/21/96 06/21/16 237.63
BS18 10266119310 42,400.00 42,400.00 07/28/96 06/28/11 177.86
BS18 10266119432 13,500.00 13,500.00 08/01/96 07/01/11 178.00
BS18 10266119453 24,300.00 24,239.11 07/19/96 06/19/11 177.57
BS18 10266119556 80,750.00 80,529.98 07/26/96 06/26/26 357.80
BS18 10266119588 36,000.00 35,953.78 07/21/96 06/21/11 177.63
BS18 10266119667 46,000.00 45,865.79 08/08/96 07/08/11 178.19
BS18 10266119680 25,000.00 24,889.32 08/02/96 07/02/11 177.99
BS18 10266119700 28,000.00 27,875.31 08/01/96 07/01/11 178.00
BS18 10266119731 97,000.00 96,977.60 08/01/96 07/01/11 178.00
BS18 10266119768 89,100.00 89,058.18 08/01/96 07/01/11 178.00
BS18 10266119804 65,000.00 65,000.00 07/26/96 06/26/16 237.80
BS18 10266119806 62,600.00 62,578.77 07/25/96 06/25/16 237.76
BS18 10266119819 34,800.00 34,700.60 07/24/96 06/24/11 177.73
BS18 10266119834 62,900.00 62,900.00 08/01/96 07/01/26 358.00
BS18 10266119847 57,100.00 57,032.40 08/01/96 07/01/16 238.00
BS18 10266119881 48,000.00 47,808.52 07/24/96 06/24/11 177.73
BS18 10266119891 20,000.00 19,921.41 07/28/96 08/28/11 179.86
BS18 10266119914 16,000.00 15,957.15 08/03/96 09/03/11 180.03
BS18 10266119953 100,514.00 100,428.13 08/08/96 07/08/11 178.19
BS18 10266119955 15,000.00 14,912.24 08/02/96 07/02/11 177.99
BS18 10266120002 15,013.00 14,952.21 07/03/96 06/03/11 177.04
BS18 10266120009 120,000.00 120,000.00 08/09/96 07/09/26 358.22
BS18 10266120036 16,600.00 16,574.53 07/28/96 06/28/11 177.86
BS18 10266120064 24,500.00 24,500.00 08/03/96 07/03/11 178.03
BS18 10266120075 33,700.00 33,700.00 08/01/96 07/01/11 178.00
BS18 10266120110 39,800.00 39,737.66 08/01/96 07/01/11 178.00
BS18 10266120112 24,500.00 24,481.97 08/03/96 07/03/11 178.03
BS18 10266120133 28,000.00 27,639.85 07/26/96 06/26/11 177.80
BS18 10266120141 45,000.00 45,000.00 08/02/96 07/02/11 177.99
BS18 10266120183 69,000.00 68,878.38 08/08/96 07/08/16 238.19
BS18 10266120231 66,300.00 66,300.00 07/25/96 06/25/11 177.76
BS18 10266120252 20,000.00 19,699.07 07/27/96 06/27/11 177.83
BS18 10266120266 30,000.00 29,906.06 07/26/96 06/26/11 177.80
BS18 10266120418 40,000.00 39,870.22 07/05/96 06/05/11 177.11
BS18 10266120423 31,000.00 31,000.00 08/08/96 07/08/11 178.19
BS18 10266120442 127,000.00 127,000.00 07/17/96 06/17/11 177.50
BS18 10266120540 86,500.00 86,500.00 07/28/96 06/28/26 357.86
BS18 10266120562 85,500.00 85,140.11 08/03/96 07/03/06 118.03
BS18 10266120579 95,000.00 95,000.00 08/03/96 07/03/11 178.03
BS18 10266120674 56,000.00 55,973.62 08/10/96 07/10/26 358.26
BS18 10266120684 35,000.00 34,974.46 07/24/96 06/24/26 357.73
BS18 10266120828 90,900.00 90,680.09 07/17/96 06/17/11 177.50
BS18 10266120888 48,000.00 48,000.00 08/01/96 07/01/11 178.00
BS18 10266120951 50,000.00 50,000.00 08/09/96 07/09/16 238.22
BS18 10266120957 60,000.00 60,000.00 08/05/96 07/05/11 178.09
BS18 10266121013 19,350.00 19,336.97 08/10/96 07/10/11 178.26
BS18 10266121016 79,600.00 79,600.00 07/27/96 06/27/11 177.83
BS18 10266121036 12,500.00 12,453.55 08/01/96 07/01/11 178.00
BS18 10266121252 64,000.00 64,000.00 07/26/96 06/26/16 237.80
<CAPTION>
Original Current Scheduled
Date LTV Mortgage Payment
Sale ID Account Due Ratio Rate Int & Prin
- ---------------------------------------------------------------------------------------------
BS18 10266118846 08/03/96 79.9 14.000 163.80
BS18 10266118865 10/02/96 71.5 12.500 431.38
BS18 10266118951 09/10/96 84.9 13.700 450.53
BS18 10266118966 09/02/96 41.6 12.490 607.89
BS18 10266118970 09/09/96 21.0 13.990 133.11
BS18 10266119021 09/01/96 78.3 14.000 213.08
BS18 10266119022 10/03/96 75.0 12.000 594.02
BS18 10266119111 09/08/96 89.7 11.650 195.19
BS18 10266119135 08/28/96 80.0 14.850 751.47
BS18 10266119230 09/09/96 84.2 12.700 201.78
BS18 10266119245 09/28/96 84.9 12.250 129.15
BS18 10266119246 09/01/96 83.8 11.850 1,790.06
BS18 10266119300 08/21/96 87.7 11.000 402.55
BS18 10266119310 08/28/96 80.0 13.750 494.01
BS18 10266119432 09/01/96 87.0 11.800 160.29
BS18 10266119453 09/19/96 71.2 11.100 233.25
BS18 10266119556 09/26/96 85.0 11.990 829.98
BS18 10266119588 09/21/96 60.0 10.850 338.76
BS18 10266119667 09/08/96 41.8 9.400 477.57
BS18 10266119680 10/02/96 87.2 11.650 294.44
BS18 10266119700 10/01/96 14.5 10.800 314.74
BS18 10266119731 09/01/96 54.8 10.500 887.30
BS18 10266119768 09/01/96 90.0 11.240 864.72
BS18 10266119804 08/26/96 79.1 10.490 648.51
BS18 10266119806 09/25/96 68.3 11.250 656.83
BS18 10266119819 09/24/96 89.8 11.000 395.54
BS18 10266119834 09/01/96 85.0 11.500 622.89
BS18 10266119847 09/01/96 89.9 11.740 618.40
BS18 10266119881 08/24/96 64.0 11.490 560.43
BS18 10266119891 09/28/96 77.7 10.490 219.95
BS18 10266119914 09/03/96 75.2 10.490 175.96
BS18 10266119953 09/08/96 85.0 12.700 1,088.37
BS18 10266119955 10/02/96 73.8 11.450 174.75
BS18 10266120002 09/03/96 55.8 11.950 179.70
BS18 10266120009 09/09/96 78.9 12.850 1,313.38
BS18 10266120036 08/28/96 81.5 10.600 184.53
BS18 10266120064 09/03/96 73.6 13.990 290.10
BS18 10266120075 09/01/96 89.9 11.650 396.90
BS18 10266120110 09/01/96 89.9 11.650 468.74
BS18 10266120112 09/03/96 79.9 10.400 269.31
BS18 10266120133 09/26/96 89.9 12.000 288.01
BS18 10266120141 09/02/96 29.0 10.700 418.38
BS18 10266120183 09/08/96 84.6 9.600 647.68
BS18 10266120231 08/25/96 65.0 10.950 628.89
BS18 10266120252 09/27/96 65.4 10.490 220.96
BS18 10266120266 09/26/96 79.9 10.490 331.43
BS18 10266120418 09/05/96 77.7 12.950 504.78
BS18 10266120423 09/08/96 79.8 13.350 399.39
BS18 10266120442 09/17/96 76.0 10.250 1,138.05
BS18 10266120540 08/28/96 84.8 10.350 781.57
BS18 10266120562 09/03/96 85.8 9.900 1,125.16
BS18 10266120579 09/03/96 69.3 11.990 976.45
BS18 10266120674 09/10/96 65.7 11.200 541.78
BS18 10266120684 09/24/96 46.0 13.990 414.43
BS18 10266120828 09/17/96 84.9 12.200 949.03
BS18 10266120888 09/01/96 82.6 12.700 597.87
BS18 10266120951 09/09/96 45.0 11.200 522.92
BS18 10266120957 09/05/96 80.0 10.700 557.83
BS18 10266121013 09/10/96 80.0 13.990 257.56
BS18 10266121016 09/27/96 79.6 9.500 669.32
BS18 10266121036 10/01/96 80.0 12.650 155.29
BS18 10266121252 08/26/96 80.0 10.250 628.25
</TABLE>
<PAGE>
Alliance Funding Company Page 5 9/16/96
A division of Superior Bank FSB
Sale Schedule
1996-3 Class 1 - Initial Pool of Fixed Rate Mortgages - Settlement 9/23/96
<TABLE>
<CAPTION>
Zip
Sale ID Account Name Address City State Code
- -----------------------------------------------------------------------------------------------------------------------------
<C> <C> <S> <C> <C> <C> <C>
BS18 10266121260 SUMMERS CATHERINE A 7988 CARTER ROAD SAGAMORE HILLS OH 44067
BS18 10266121361 LAURO LINDA 205 EAST NASSAU STREET ISLIP TERRACE NY 11752
BS18 10266121372 BIRON BELINDA 9356 WEST IOWA AVENUE LAKEWOOD CO 80232
BS18 10266121526 KASTANIS ANN 11502 58TH AVENUE SW TACOMA WA 98499
BS18 10266121527 SULFARRO MICHAEL 3739 RICHARD LANE WANTAGH NY 11793
BS18 10266121529 CAREATHERS CLIFFORD G 2321 FRANKLIN STREET DENVER CO 80205
BS18 10266121568 LAMOREAUX LARRY R 8358 SOUTH 3580 WEST WEST JORDAN UT 84088
BS18 10266121640 KEELE W SCOTT 6592 WEST 3270 SOUTH WEST VALLEY CITY UT 84120
BS18 10266121654 BRUNO MARIO 4824 NORTH NOTTINGHAM CHICAGO IL 60656
BS18 10266121773 WORTHINGTON DAVID 8 OAK LANE FAIRLESS HILLS PA 19030
BS18 10266121831 HAILEY MONNA LEE 3274 SOUTH MADISON CIRCLE MAGNA UT 84044
BS18 10266121864 NAGLE DARLENE 4823 NORTH NEWCASTLE CHICAGO IL 60656
BS18 10266121917 PRITCHARD WILLIAM JR 6847 CIRCLE CREEK DRIVE NORTH PINELLAS PARK FL 34665
BS18 10266122112 BENNETT HELEN 6201 4TH STREET SOUTH SAINT PETERSBURG FL 33705
BS18 10266122206 BOWEN ARLENE A 5240 MARABOU WAY COLORADO SPRINGS CO 80911
BS18 10266122415 DOMENICK ROBERT P 22 LINCOLN AVENUE JEANNETTE PA 15644
BS18 10266122453 WALLS FREDRICK WILLIAM 2318 W ORIENT STREET TAMPA FL 33607
BS18 10266122540 MUNRO JERRY C 3632 SOUTH DEANN DRIVE WEST VALLEY CITY UT 84120
BS18 10266122548 MASUCCI ROBERT J 296 RICHMOND AVENUE AMITYVILLE NY 11701
BS18 10266122549 MICELI ANN ANGELA ROUTE 82 BOX 748 HOPEWELL JUNCTION NY 12533
BS18 10266122595 HENDRICKSON ROBERT C 3162 WEST ELMWOOD DRIVE RIVERTON UT 84065
BS18 10266122630 WATTERS EARL E 128 ELY STREET COLORADO SPRINGS CO 80911
BS18 10266122778 KINDER LARRY EUGENE 5521 SOUTH SPURRIER ROAD MURRAY UT 84107
BS18 10266122883 WATSON FRANCIS W 4404 WEST TWILIGHT DRIVE SALT LAKE CITY UT 84118
BS18 10266122885 CHRISTIANSEN CLINE 1752 SOUTH 450 WEST PROVO UT 84601
BS18 10266122900 SHUTT MICHAEL S 4167 SOUTH HOLDER DRIVE WEST VALLEY CITY UT 84120
BS18 10266123038 MACKAY RICHARD W 6 N ROBINHOOD ROAD INVERNESS FL 34450
BS18 10266123160 MATSON CHARLES J JR 2877 WEST 7268 SOUTH WEST JORDAN UT 84084
BS18 10266123163 EKERSON JAMES M 22286 FRIARS LANE SHERWOOD OR 97140
BS18 10266123252 CAUDILLO LOUIS T 1858 EAST HOLLYWOOD AVENUE SALT LAKE CITY UT 84108
BS18 10266123441 GRAY THOMAS J 5979 SOUTH GINGERWOOD COURT SALT LAKE CITY UT 84118
BS18 10266123444 OLSON BRYAN R 420 NORTH PINE STREET BURLINGTON WA 98233
BS18 10266123449 ALDER WALTER B 9219 SOUTH SOLENA WAY SANDY UT 84093
BS18 10266123815 HUTCHINS MATTHEW D 1665 SOUTH JACKSON STREET DENVER CO 80210
BS18 10266124177 MATTHEWS ROBERT D 1117 WEST 680 SOUTH OREM UT 84058
-------------------------------------------
159 Sale Total
<CAPTION>
Principal Cut-off Date First
Balance at Principal Payment Maturity Rem
Sale ID Account Origination Balance Date Date Term
- ---------------------------------------------------------------------------------------------------------------------
<C> <C> <S> <C> <C> <C> <C>
BS18 10266121260 74,000.00 73,755.77 07/26/96 06/26/16 237.80
BS18 10266121361 35,500.00 35,456.84 07/28/96 06/28/16 237.86
BS18 10266121372 16,850.00 16,850.00 08/03/96 07/03/11 178.03
BS18 10266121526 77,000.00 76,458.34 08/08/96 07/08/11 178.19
BS18 10266121527 168,000.00 166,936.37 07/25/96 06/25/11 177.76
BS18 10266121529 76,000.00 76,000.00 08/03/96 07/03/11 178.03
BS18 10266121568 80,000.00 80,000.00 08/03/96 07/03/11 178.03
BS18 10266121640 26,250.00 26,250.00 08/08/96 07/08/11 178.19
BS18 10266121654 108,000.00 108,000.00 07/26/96 06/26/11 177.80
BS18 10266121773 35,000.00 34,822.51 08/02/96 07/02/11 177.99
BS18 10266121831 31,000.00 30,809.98 07/28/96 06/28/11 177.86
BS18 10266121864 90,000.00 90,000.00 08/01/96 07/01/16 238.00
BS18 10266121917 54,600.00 54,367.38 07/28/96 06/28/16 237.86
BS18 10266122112 43,500.00 43,500.00 08/09/96 07/09/11 178.22
BS18 10266122206 20,500.00 20,500.00 08/09/96 07/09/11 178.22
BS18 10266122415 48,000.00 47,777.80 08/03/96 07/03/11 178.03
BS18 10266122453 41,800.00 41,517.69 08/08/96 07/08/11 178.19
BS18 10266122540 93,500.00 93,421.83 08/02/96 07/02/26 357.99
BS18 10266122548 95,000.00 94,591.03 08/08/96 07/08/16 238.19
BS18 10266122549 18,000.00 17,970.46 08/03/96 07/03/11 178.03
BS18 10266122595 19,880.00 19,809.08 07/19/96 06/19/11 177.57
BS18 10266122630 15,200.00 15,197.67 08/09/96 07/09/16 238.22
BS18 10266122778 20,000.00 19,986.03 07/19/96 06/19/11 177.57
BS18 10266122883 18,200.00 18,175.92 07/21/96 06/21/11 177.63
BS18 10266122885 30,000.00 29,906.40 07/24/96 06/24/11 177.73
BS18 10266122900 31,359.00 31,078.72 07/24/96 06/24/11 177.73
BS18 10266123038 20,350.00 20,229.09 08/02/96 07/02/11 177.99
BS18 10266123160 33,390.00 33,390.00 07/24/96 06/24/11 177.73
BS18 10266123163 24,750.00 24,750.00 08/03/96 07/03/11 178.03
BS18 10266123252 60,000.00 60,000.00 07/25/96 06/25/11 177.76
BS18 10266123441 20,000.00 19,932.92 07/26/96 06/26/11 177.80
BS18 10266123444 11,600.00 11,600.00 08/08/96 07/08/11 178.19
BS18 10266123449 59,000.00 58,891.61 07/26/96 06/26/11 177.80
BS18 10266123815 18,000.00 17,969.86 08/09/96 07/09/11 178.22
BS18 10266124177 11,350.00 11,348.40 08/02/96 07/02/11 177.99
--------------------------------------------------------- -------------
159 7,503,896.00 7,488,360.56 210.42
<CAPTION>
Original Current Scheduled
Date LTV Mortgage Payment
Sale ID Account Due Ratio Rate Int & Prin
- ---------------------------------------------------------------------------------------------
BS18 10266121260 09/26/96 64.9 10.500 738.80
BS18 10266121361 09/28/96 89.9 11.400 376.14
BS18 10266121372 09/03/96 82.5 12.700 209.88
BS18 10266121526 09/08/96 69.5 11.200 884.87
BS18 10266121527 09/25/96 80.0 10.700 1,561.94
BS18 10266121529 09/03/96 80.8 9.900 661.35
BS18 10266121568 09/03/96 84.2 9.900 696.15
BS18 10266121640 09/08/96 90.0 11.650 262.96
BS18 10266121654 08/26/96 67.0 10.000 947.78
BS18 10266121773 10/02/96 78.4 11.200 338.61
BS18 10266121831 09/28/96 89.8 11.250 357.23
BS18 10266121864 09/01/96 45.9 11.490 959.17
BS18 10266121917 09/28/96 70.0 9.950 525.09
BS18 10266122112 09/09/96 64.9 13.500 498.25
BS18 10266122206 09/09/96 69.5 12.750 222.77
BS18 10266122415 10/03/96 80.0 11.200 464.38
BS18 10266122453 10/08/96 53.2 9.950 447.91
BS18 10266122540 10/02/96 85.0 12.200 976.17
BS18 10266122548 10/08/96 72.3 11.750 1,029.52
BS18 10266122549 09/03/96 11.7 10.250 196.19
BS18 10266122595 09/19/96 89.9 12.200 241.16
BS18 10266122630 09/09/96 74.2 10.750 154.31
BS18 10266122778 09/19/96 72.9 11.950 239.39
BS18 10266122883 09/21/96 71.1 14.700 251.00
BS18 10266122885 09/24/96 75.6 11.750 355.24
BS18 10266122900 09/24/96 81.7 12.350 383.45
BS18 10266123038 10/02/96 79.9 12.400 249.50
BS18 10266123160 08/24/96 79.9 15.350 475.35
BS18 10266123163 09/03/96 83.7 12.700 267.99
BS18 10266123252 08/25/96 66.0 13.850 793.01
BS18 10266123441 09/26/96 74.0 12.950 252.39
BS18 10266123444 09/08/96 80.0 14.490 141.96
BS18 10266123449 09/26/96 45.4 13.850 779.79
BS18 10266123815 09/09/96 84.4 12.700 224.20
BS18 10266124177 09/02/96 84.8 13.200 145.10
------------------ -------------------------------------------
159 74.7 11.491 78,478.71
</TABLE>
<PAGE>
Alliance Funding Company Page 6 9/16/96
A division of Superior Bank FSB
Sale Schedule
1996-3 Class 1 - Initial Pool of Fixed Rate Mortgages - Settlement 9/23/96
<TABLE>
<CAPTION>
Zip
Sale ID Account Name Address City State Code
- -----------------------------------------------------------------------------------------------------------------------------
<C> <C> <S> <C> <C> <C> <C>
BS19 10266097161 GIDIUS THOMAS J 23 RUNDELANE BLOOMFIELD CT 06002
BS19 10266107736 TVEITMOE MILDRED E 7150 SOUTH 2180 WEST WEST JORDAN UT 84084
BS19 10266108116 AZERA CANDIDO L S 2535 WEST BRUCEMONT DRIVE SALT LAKE CITY UT 84118
BS19 10266108175 SECURDA KERRICK 301 WELLINGTON AVENUE LINCOLN PARK PA 19608
BS19 10266108177 HEBRON EARLENE R 13238 HIGHLAND ROAD HIGHLAND MD 20777
BS19 10266110023 WELCH PEARL 425 BEACH 44TH STREET FAR ROCKAWAY NY 11691
BS19 10266110055 MCCORMICK GRACE ROMANO 53 IRMA AVENUE PORT WASHINGTON NY 11050
BS19 10266110104 PERETZ DANIEL 244 MONAHAN AVENUE STATEN ISLAND NY 10314
BS19 10266110846 BAXTER DAWN 62 PAERDEGAT 2ND STREET BROOKLYN NY 11236
BS19 10266111119 HOHENBERGER ROBERT L 1646 FEUEREISEN AVENUE BOHEMIA NY 11716
BS19 10266111397 VEATCH EDWARD 1176 WEST 1300 NORTH OREM UT 84057
BS19 10266112095 NESTOPOULOS IKE 201 HUDSON STREET ITHACA NY 14850
BS19 10266112112 KNIGHTLY JOHN F JR RD # 4 BOX 44 A KITTANNING PA 16201
BS19 10266112523 WHEELER THOMAS LEE 5022 OHIO AVENUE HARRISBURG PA 17109
BS19 10266112717 WILLIAMS PATRICIA C 514 SOUTH 6TH AVENUE MOUNT VERNON NY 10550
BS19 10266112837 MILLER ROBERT G 9003 GERONIMO BEULAH CO 81023
BS19 10266113355 HELLER LEE 29 BARRISTER LANE MANALAPAN NJ 07726
BS19 10266113719 DUBLIN WINSTON 644 WARWICK STREET BROOKLYN NY 11207
BS19 10266114022 KINZY DOUGLAS H 5299 CUBMONT DRIVE EVERGREEN CO 80439
BS19 10266114381 CLARK PATRICIA A 31 ROSS LANE EAST NORWICH NY 11732
BS19 10266114506 WALTON JAMES 10639 SOUTH INDIANA AVENUE CHICAGO IL 60628
BS19 10266114548 KOSKELA JOHN A 1415 SAGINAW STREET SOUTH SALEM OR 97302
BS19 10266114753 PICINIC JOHN 15 LINCOLN STREET LITTLE FERRY NJ 07643
BS19 10266115154 DURANT TOMMY J 12805 W 23RD AVENUE GOLDEN CO 80401
BS19 10266115197 ROSAMILIA ANNA MARIA 7 PROSPECT PLACE SPRINGFIELD NJ 07081
BS19 10266115277 STEVENSON JOHN P 40 EAST 5TH STREET NEW CASTLE DE 19720
BS19 10266115564 KOEPKA RUSSELL S 4515 MARIE DRIVE HAMBURG NY 14075
BS19 10266115595 MORGAN GARY 8471 FRENCH HILL ROAD NAPLES NY 14512
BS19 10266115615 PERLICK JERRY L 2370 FLORENCE STREET AURORA CO 80010
BS19 10266115701 DAHLBERG ROGER TIMOTHY 130 PLANTATION DRIVE SHARPSBURG GA 30277
BS19 10266115807 KUCHYNSKAS LOUISE 2416 WOODLAND AVENUE WANTAGH NY 11793
BS19 10266115957 NELSON LARRY R 23602 N 81ST STREET SCOTTSDALE AZ 85255
BS19 10266116073 MUNNELLY MICHAEL 117 ABBOTT STREET STATEN ISLAND NY 10305
BS19 10266116258 JACOBSEN KAREN ELIZABETH 69 RICHMOND AVENUE AMITYVILLE NY 11701
BS19 10266116295 MORENO LAURA 2533 E TOWNER ST TUCSON AZ 85716
BS19 10266116375 LEYVA CHARLES R SR 3721 AZALEA STREET PUEBLO CO 81005
BS19 10266116981 MITCHELL WILLIAM C JR 85 BERKSHIRE ROAD WEST BABYLON NY 11704
BS19 10266117148 SOUTHERLAND MICHAEL D 1618 WEST 67TH AVENUE NORTH PHILADELPHIA PA 19126
BS19 10266117268 QUILES DONNA M 123 FRANKLIN AVENUE STRATFORD CT 06497
BS19 10266117790 VANCE BEVERLY 1561 EAST 105TH STREET CLEVELAND OH 44106
BS19 10266118009 SCULL JANE M 1505 WEST AVENUE BEACH HAVEN NJ 08008
BS19 10266118019 SHIELDS DEIRDRE 798 LOGAN STREET BROOKLYN NY 11201
BS19 10266118062 DEPASQUALE LOUIS J 9 REMSEN CIRCLE YONKERS NY 10710
BS19 10266118078 DECREDICO PATRICIA 407 GASKILL STREET PHILADELPHIA PA 19147
BS19 10266118180 HENNELLY MICHAEL J III 2168 UNRUH AVENUE PHILADELPHIA PA 19149
BS19 10266118204 RAMIREZ JORGE P 233 N 25TH STREET SAN JOSE CA 95116
BS19 10266118288 STRICKLAND FREDERICK 133-11 133RD AVENUE SOUTH OZONE PARK NY 11420
BS19 10266118345 SKINNER ERIC J 5525 EAST SHANGRI LA ROAD SCOTTSDALE AZ 85254
BS19 10266118350 FULLER PATRICIA ANN 916 FIGUEROA STREET FOLSOM CA 95630
BS19 10266118399 HALES NICHOLAS E 1948 EAST PRINCETON SALT LAKE CITY UT 84108
BS19 10266118409 TREZEVANT ALPHONSO B 3717 GENERAL ARNOLD ST NE ALBUQUERQUE NM 87111
BS19 10266118532 DEAN RICHARD H 6663 BUENA VISTA DRIVE UINTAH UT 84405
BS19 10266118685 LEVAD DANIEL H 6888 SOUTH RICHFIELD STREET AURORA CO 80016
BS19 10266118706 HANDLER DAVID W 803 SOUTHEAST 32ND AVENUE HILLSBORO OR 97123
BS19 10266118717 ICCARI ROBERT 43 HEATHERFIELD ROAD VALLEY STREAM NY 11581
BS19 10266118777 TOFT DAVID A 2 NORTH WALNUT CIRCLE BERLIN TOWNSHIP NJ 08091
BS19 10266118843 CALVERT STEPHEN EUGENE 767 CUMBERLAND ROAD ATLANTA GA 30306
BS19 10266118849 DUSANJH JOGA S 1912 W MISSOURI AVE PHOENIX AZ 85015
BS19 10266118904 DOBSON GORDON M 3253 WEST 133RD AVENUE BROOMFIELD CO 80020
BS19 10266118943 CHIVERALL ARTHUR L 6690 SOUTH 300 EAST MIDVALE UT 84047
BS19 10266119040 IZZO ROBERT G 516 MULBERRY LANE WEST HEMPSTEAD NY 11552
BS19 10266119164 GODFREY GRANT L 1436 HILLTOP DRIVE LONGMONT CO 80501
<CAPTION>
Principal Cut-off Date First
Balance at Principal Payment Maturity Rem
Sale ID Account Origination Balance Date Date Term
- ---------------------------------------------------------------------------------------------------------------------
<C> <C> <S> <C> <C> <C> <C>
BS19 10266097161 50,000.00 49,761.43 02/16/96 01/16/11 172.47
BS19 10266107736 39,000.00 38,842.80 05/15/96 04/15/11 175.43
BS19 10266108116 28,900.00 28,691.43 04/12/96 03/12/11 174.31
BS19 10266108175 112,500.00 112,399.83 06/03/96 05/03/11 176.02
BS19 10266108177 127,500.00 127,038.92 08/03/96 07/03/16 238.03
BS19 10266110023 58,500.00 58,333.19 07/27/96 06/27/11 177.83
BS19 10266110055 60,200.00 60,200.00 07/19/96 06/19/16 237.57
BS19 10266110104 33,900.00 33,900.00 07/03/96 06/03/11 177.04
BS19 10266110846 24,500.00 24,418.76 07/26/96 06/26/11 177.80
BS19 10266111119 127,200.00 126,817.53 07/17/96 06/17/11 177.50
BS19 10266111397 12,500.00 12,466.24 08/01/96 07/01/11 178.00
BS19 10266112095 74,900.00 74,900.00 07/05/96 06/05/11 177.11
BS19 10266112112 42,000.00 42,000.00 08/03/96 07/03/16 238.03
BS19 10266112523 75,200.00 75,149.88 07/27/96 06/27/11 177.83
BS19 10266112717 27,420.00 27,418.12 07/17/96 06/17/11 177.50
BS19 10266112837 10,500.00 10,243.59 08/10/96 07/10/11 178.26
BS19 10266113355 40,700.00 40,653.28 07/19/96 06/19/11 177.57
BS19 10266113719 47,700.00 47,700.00 06/17/96 05/17/16 236.48
BS19 10266114022 64,490.00 64,490.00 08/09/96 07/09/11 178.22
BS19 10266114381 63,715.00 63,598.21 07/26/96 06/26/16 237.80
BS19 10266114506 84,000.00 83,909.03 08/09/96 07/09/11 178.22
BS19 10266114548 118,125.00 118,125.00 07/24/96 06/24/11 177.73
BS19 10266114753 96,850.00 96,639.94 07/26/96 06/26/11 177.80
BS19 10266115154 31,900.00 31,900.00 07/18/96 06/18/11 177.53
BS19 10266115197 120,000.00 120,000.00 07/26/96 06/26/11 177.80
BS19 10266115277 25,100.00 25,100.00 07/28/96 06/28/11 177.86
BS19 10266115564 76,000.00 75,943.65 07/26/96 06/26/26 357.80
BS19 10266115595 68,800.00 68,705.00 07/28/96 06/28/26 357.86
BS19 10266115615 13,730.00 13,698.82 08/15/96 07/15/11 178.42
BS19 10266115701 40,000.00 40,000.00 07/11/96 06/11/11 177.30
BS19 10266115807 100,000.00 99,990.20 08/01/96 07/01/11 178.00
BS19 10266115957 31,650.00 31,581.14 07/18/96 06/18/11 177.53
BS19 10266116073 43,500.00 43,500.00 06/21/96 05/21/11 176.61
BS19 10266116258 80,000.00 79,988.97 08/09/96 07/09/11 178.22
BS19 10266116295 11,800.00 11,752.54 07/17/96 06/17/11 177.50
BS19 10266116375 52,000.00 51,991.45 07/24/96 06/24/16 237.73
BS19 10266116981 44,000.00 44,000.00 08/01/96 07/01/16 238.00
BS19 10266117148 40,000.00 40,000.00 07/21/96 06/21/16 237.63
BS19 10266117268 77,600.00 77,529.38 07/21/96 06/21/11 177.63
BS19 10266117790 27,500.00 27,500.00 08/12/96 07/12/16 238.32
BS19 10266118009 40,000.00 39,768.01 07/10/96 06/10/11 177.27
BS19 10266118019 46,500.00 46,453.92 07/07/96 06/07/16 237.17
BS19 10266118062 50,000.00 49,832.98 07/24/96 06/24/11 177.73
BS19 10266118078 43,000.00 43,000.00 08/09/96 07/09/11 178.22
BS19 10266118180 72,000.00 71,858.00 07/13/96 06/13/11 177.37
BS19 10266118204 153,000.00 152,939.76 07/12/96 06/12/11 177.34
BS19 10266118288 106,200.00 106,200.00 07/11/96 06/11/26 357.30
BS19 10266118345 244,000.00 244,000.00 07/10/96 06/10/11 177.27
BS19 10266118350 141,000.00 140,426.24 07/14/96 06/14/11 177.40
BS19 10266118399 33,100.00 33,100.00 07/11/96 06/11/11 177.30
BS19 10266118409 24,965.00 24,874.75 07/19/96 06/19/11 177.57
BS19 10266118532 34,000.00 33,962.25 07/18/96 06/18/11 177.53
BS19 10266118685 41,500.00 41,500.00 08/03/96 07/03/11 178.03
BS19 10266118706 41,600.00 41,440.88 08/15/96 07/15/11 178.42
BS19 10266118717 38,000.00 37,648.31 07/21/96 06/21/11 177.63
BS19 10266118777 75,200.00 75,200.00 08/01/96 07/01/26 358.00
BS19 10266118843 40,600.00 40,477.90 07/17/96 06/17/11 177.50
BS19 10266118849 69,700.00 69,531.27 07/24/96 06/24/26 357.73
BS19 10266118904 38,500.00 38,372.08 07/24/96 06/24/11 177.73
BS19 10266118943 37,300.00 37,249.98 07/12/96 06/12/11 177.34
BS19 10266119040 80,000.00 80,000.00 07/21/96 06/21/11 177.63
BS19 10266119164 140,000.00 140,000.00 08/15/96 07/15/26 358.42
<CAPTION>
Original Current Scheduled
Date LTV Mortgage Payment
Sale ID Account Due Ratio Rate Int & Prin
- ---------------------------------------------------------------------------------------------
BS19 10266097161 09/16/96 83.0 9.500 420.43
BS19 10266107736 08/15/96 40.2 9.400 404.90
BS19 10266108116 09/12/96 89.5 11.940 345.73
BS19 10266108175 09/03/96 75.0 9.990 986.44
BS19 10266108177 10/03/96 85.0 8.550 1,110.51
BS19 10266110023 08/27/96 65.0 10.700 543.89
BS19 10266110055 09/19/96 80.0 13.500 726.84
BS19 10266110104 09/03/96 89.9 11.940 347.13
BS19 10266110846 09/26/96 89.7 11.990 293.88
BS19 10266111119 09/17/96 80.0 10.850 1,196.96
BS19 10266111397 10/01/96 80.0 14.400 152.08
BS19 10266112095 08/05/96 70.0 9.500 629.80
BS19 10266112112 09/03/96 70.0 9.900 402.53
BS19 10266112523 09/27/96 80.0 10.990 715.58
BS19 10266112717 09/17/96 89.8 11.000 261.13
BS19 10266112837 11/10/96 85.0 12.250 127.71
BS19 10266113355 09/19/96 84.9 12.900 512.28
BS19 10266113719 08/17/96 35.3 11.750 516.93
BS19 10266114022 09/09/96 84.9 12.700 698.30
BS19 10266114381 09/26/96 90.0 11.400 675.09
BS19 10266114506 09/09/96 84.8 11.500 831.84
BS19 10266114548 08/24/96 75.0 12.000 1,215.05
BS19 10266114753 08/26/96 65.0 10.950 1,097.76
BS19 10266115154 09/18/96 89.9 11.650 319.56
BS19 10266115197 09/26/96 70.5 12.100 1,243.58
BS19 10266115277 08/28/96 84.9 12.900 275.70
BS19 10266115564 09/26/96 76.0 12.600 817.02
BS19 10266115595 09/28/96 80.0 10.400 624.20
BS19 10266115615 09/15/96 79.9 14.000 162.68
BS19 10266115701 09/11/96 84.2 13.200 448.74
BS19 10266115807 09/01/96 60.6 11.990 1,027.84
BS19 10266115957 09/18/96 85.0 12.700 342.71
BS19 10266116073 09/21/96 89.9 11.990 447.11
BS19 10266116258 09/09/96 37.2 11.500 792.23
BS19 10266116295 09/17/96 79.9 13.990 157.07
BS19 10266116375 08/24/96 65.0 14.000 646.63
BS19 10266116981 09/01/96 80.0 13.990 546.83
BS19 10266117148 09/21/96 80.0 14.200 503.23
BS19 10266117268 09/21/96 80.0 11.450 765.51
BS19 10266117790 08/12/96 55.0 11.990 302.61
BS19 10266118009 09/10/96 18.6 10.990 454.39
BS19 10266118019 09/07/96 77.4 10.500 464.25
BS19 10266118062 09/24/96 46.9 10.400 453.64
BS19 10266118078 09/09/96 23.3 9.900 374.18
BS19 10266118180 09/13/96 80.0 9.900 626.54
BS19 10266118204 09/12/96 82.7 13.050 1,698.47
BS19 10266118288 09/11/96 90.0 11.700 1,067.93
BS19 10266118345 09/10/96 80.0 10.700 2,268.53
BS19 10266118350 09/14/96 64.6 10.950 1,598.18
BS19 10266118399 09/11/96 90.0 12.600 355.83
BS19 10266118409 09/19/96 80.0 12.950 315.05
BS19 10266118532 09/18/96 84.8 13.200 381.43
BS19 10266118685 09/03/96 41.8 11.200 476.91
BS19 10266118706 09/15/96 81.1 12.250 505.98
BS19 10266118717 09/21/96 81.5 12.500 468.36
BS19 10266118777 09/01/96 73.7 10.990 715.58
BS19 10266118843 09/17/96 73.8 13.100 452.29
BS19 10266118849 09/24/96 85.0 12.200 727.69
BS19 10266118904 09/24/96 79.3 10.400 423.20
BS19 10266118943 09/12/96 36.2 13.100 474.39
BS19 10266119040 09/21/96 55.1 12.050 825.97
BS19 10266119164 09/15/96 80.0 12.850 1,532.28
</TABLE>
<PAGE>
Alliance Funding Company Page 7 9/16/96
A division of Superior Bank FSB
Sale Schedule
1996-3 Class 1 - Initial Pool of Fixed Rate Mortgages - Settlement 9/23/96
<TABLE>
<CAPTION>
Zip
Sale ID Account Name Address City State Code
- -----------------------------------------------------------------------------------------------------------------------------
<C> <C> <S> <C> <C> <C> <C>
BS19 10266119165 BARRY SEAN L 1969 BEACON COURT BOULDER CO 80303
BS19 10266119170 NEUS CRAIG SCOTT JR 1602 3RD AVENUE SE RUSKIN FL 33570
BS19 10266119317 ROSAS MANUEL A 7430 SW 130TH AVENUE MIAMI FL 33183
BS19 10266119345 CHRISTENSEN SHAWN D 11959 SOUTH ASPEN RIDGE ROAD SANDY UT 84094
BS19 10266119358 WAGNER HERBERT M ROUTE 22 NEW LEBANON NY 12125
BS19 10266119384 SCANLON NANCY L 2064 BRUCE LANE NORTH MERRICK NY 11566
BS19 10266119406 URQUHART BERNETTA 167 ARCHER AVENUE MOUNT VERNON NY 10550
BS19 10266119446 CLUFF WILLIAM J 640 SOUTH ORCHARD DRIVE BOUNTIFUL UT 84010
BS19 10266119512 HORVATH KENNETH J 3934 E PICCADILLY ROAD #21 PHOENIX AZ 85018
BS19 10266119580 SCHWARZ-FIELDS LINDA A 27 CLAY STREET HUNTINGTON STATION NY 11746
BS19 10266119606 LIETKE GARY E 810 NW 178TH AVENUE BEAVERTON OR 97006
BS19 10266119626 BRYSON LEE ANN 2147 WEST 12360 SOUTH RIVERTON UT 84065
BS19 10266119676 SIMMONS OZIE B 5814 OLIVER STREET JACKSONVILLE FL 32211
BS19 10266119699 ROBERTSON RANAE J 3399 SOUTH SQUIREWOOD DRIVE WEST VALLEY CITY UT 84120
BS19 10266119717 VAUGHAN MILDRED A 1448 NORTH WANAMAKER STREET PHILADELPHIA PA 19131
BS19 10266119757 DILLON DIANA F 3569 INDEPENDENCE ROAD CLEVELAND OH 44105
BS19 10266119823 NICOLELLA FRANK J 460 GILBERT DRIVE WOOD DALE IL 60191
BS19 10266119868 STAKE SUSAN D 545 PRICE AVENUE CALUMET CITY IL 60409
BS19 10266119887 HARRIER JOHN D 16671 COLLINGHAM DETROIT MI 48205
BS19 10266119904 GURKO RICHARD A 3703 WEST 39TH STREET CLEVELAND OH 44109
BS19 10266119931 SALISBURY DOLORES A 741 WARWICK AVENUE BROOKLYN NY 11207
BS19 10266119972 STEVENS JAN 5991 SOUTH OAK WAY LITTLETON CO 80127
BS19 10266119990 STANGER MARK D 3851 WEST 2200 NORTH PLAIN CITY UT 84404
BS19 10266120021 HAUNER BRYAN J 22 ARRAWANNA STREET COLORADO SPRINGS CO 80909
BS19 10266120025 ROCK MICHAEL 721-723 KARLOV STREET FORT MYERS FL 33916
BS19 10266120031 CUSAT PETER F 10356 BELLTOWER STREET SPRING HILL FL 34608
BS19 10266120072 PULLENS WALTER W 148 S AIRPORT ROAD TAVERNIER FL 33070
BS19 10266120210 DUM DEAN E 106 E MAIN STREET NEW BLOOMFIELD PA 17068
BS19 10266120315 BOEH ROBERT E III 412 SOUTH 8TH STREET WILMINGTON NC 28401
BS19 10266120385 TKACH DAVID J 22 KNEEN STREET EXT SHELTON CT 06484
BS19 10266120419 PERRINE MIKUL T 5292 SOUTH PARISH DRIVE SALT LAKE CITY UT 84118
BS19 10266120432 KOENIG DOUGLAS C 5335 SOUTH 2675 WEST ROY UT 84067
BS19 10266120458 SMITH ANGELICA L 2125 CHALMERS ROAD COLORADO SPRINGS CO 80910
BS19 10266120475 BOYD HARRY EMERSON 31 23 97 STREET EAST ELMHURST NY 11369
BS19 10266120485 FERRIE ELIZABETH 295 WABASH AVENUE LANSDOWNE PA 19050
BS19 10266120511 CONRAD ALAN W 8725 ALTA VISTA DRIVE ARVADA CO 80003
BS19 10266120683 SPORNY JUDITH K 330 PARK DRIVE GLENWOOD IL 60425
BS19 10266120955 PLAZA CARLOS R 52 BLACKBERRY DRIVE STAMFORD CT 06903
BS19 10266120971 SPICER JACK W 312 WEST 750 NORTH BRIGHAM CITY UT 84302
BS19 10266120980 BASTONE FRANK L 8 YALE DRIVE NEW CITY NY 10956
BS19 10266120989 BATTILLO JAMES A 45 WOODLAND STREET LAKE RONKONKOMA NY 11779
BS19 10266120991 NOVAK TIMOTHY LEE 42 BUTTERFLY DRIVE HAUPPAUGE NY 11788
BS19 10266121130 MCVEY DONNA M 3066 ARAMINGO AVENUE PHILADELPHIA PA 19134
BS19 10266121149 HENRY ALTAMONT 109-65 135TH STREET OZONE PARK NY 11420
BS19 10266121153 TAYLOR JON SCOTT 517 WEST 1000 NORTH PLEASANT GROVE UT 84062
BS19 10266121185 TRUPP ROBIN S 620 RIVIERA DRIVE TAMPA FL 33606
BS19 10266121279 JOHNSON EULA M 3530 ELECTRIC DETROIT MI 48217
BS19 10266121329 RUYBAL TAMERA RAE 3898 WEST HOLYOKE DRIVE SOUTH JORDAN UT 84095
BS19 10266121339 SHUMAKER JACOB FRANKLIN 9098 HOLLY COURT LIBERTYTOWN MD 21762
BS19 10266121345 ALBANEZE TONICA 161 CHERRY STREET NORTHPORT NY 11768
BS19 10266121354 CANADA SIRI K 5393 SOUTH PINE ROAD EVERGREEN CO 80439
BS19 10266121363 ROBERTS DONALD R 2707 BRACKENRIDGE STREET PITTSBURGH PA 15219
BS19 10266121405 THOMAS FREDERICK L III 127 LAWRENCE AVENUE INWOOD NY 11696
BS19 10266121427 JACKSON DELLA 440 BERRIMAN STREET BROOKLYN NY 11208
BS19 10266121452 GIBSON WILLIE RAY JR 183-03 ARCADE AVENUE SAINT ALBANS NY 11412
BS19 10266121481 WADDLE MARY K 10803 ROUNDVIEW LANE TAMPA FL 33624
BS19 10266121485 NAJPHOR JOSEPH 1323 WINDSOR WAY TAMPA FL 33619
BS19 10266121489 WAGGONER JEFFREY A 948 THOMPSON BOULEVARD BALTIMORE MD 21221
BS19 10266121494 HAMBLIN ENID 1102 CARROLL STREET BROOKLYN NY 11210
BS19 10266121508 BROWN KAREN L 604 16TH AVENUE WEST PALMETTO FL 34221
BS19 10266121514 KATZ FRANK S 6023 19TH STREET NORTHEAST SAINT PETERSBURG FL 33703
BS19 10266121534 MCCLELLAND DAVID A 16 SCHOOL STREET COAL CENTER PA 15423
<CAPTION>
Principal Cut-off Date First
Balance at Principal Payment Maturity Rem
Sale ID Account Origination Balance Date Date Term
- ---------------------------------------------------------------------------------------------------------------------
<C> <C> <S> <C> <C> <C> <C>
BS19 10266119165 39,000.00 39,000.00 07/20/96 06/20/11 177.60
BS19 10266119170 59,500.00 59,113.71 08/10/96 07/10/16 238.26
BS19 10266119317 16,400.00 16,400.00 08/15/96 07/15/16 238.42
BS19 10266119345 21,980.00 21,788.63 07/18/96 06/18/11 177.53
BS19 10266119358 60,000.00 60,000.00 08/02/96 07/02/16 237.99
BS19 10266119384 67,000.00 64,850.43 08/01/96 07/01/11 178.00
BS19 10266119406 48,000.00 47,849.70 08/08/96 07/08/11 178.19
BS19 10266119446 22,000.00 21,893.04 07/21/96 06/21/11 177.63
BS19 10266119512 27,300.00 27,109.51 07/25/96 06/25/11 177.76
BS19 10266119580 46,800.00 46,777.64 07/24/96 06/24/16 237.73
BS19 10266119606 33,441.00 33,441.00 08/09/96 07/09/11 178.22
BS19 10266119626 47,391.00 47,285.86 08/01/96 07/01/11 178.00
BS19 10266119676 49,500.00 49,311.38 08/02/96 07/02/16 237.99
BS19 10266119699 15,041.00 15,041.00 08/08/96 07/08/11 178.19
BS19 10266119717 15,000.00 14,919.72 08/10/96 07/10/06 118.26
BS19 10266119757 27,300.00 26,939.12 07/28/96 06/28/16 237.86
BS19 10266119823 145,600.00 145,442.66 07/25/96 06/25/26 357.76
BS19 10266119868 28,000.00 27,854.68 07/28/96 06/28/11 177.86
BS19 10266119887 51,000.00 50,983.10 07/26/96 06/26/16 237.80
BS19 10266119904 37,400.00 37,397.38 08/09/96 07/09/16 238.22
BS19 10266119931 155,700.00 155,667.92 08/15/96 07/15/11 178.42
BS19 10266119972 14,494.00 14,402.89 08/08/96 07/08/11 178.19
BS19 10266119990 49,300.00 49,286.01 07/21/96 06/21/11 177.63
BS19 10266120021 26,450.00 26,356.04 08/15/96 07/15/11 178.42
BS19 10266120025 38,500.00 38,482.24 08/02/96 07/02/11 177.99
BS19 10266120031 61,200.00 61,200.00 08/01/96 07/01/26 358.00
BS19 10266120072 60,000.00 60,000.00 08/02/96 07/02/11 177.99
BS19 10266120210 93,500.00 93,015.46 07/21/96 06/21/11 177.63
BS19 10266120315 45,500.00 45,500.00 08/03/96 07/03/11 178.03
BS19 10266120385 39,100.00 38,947.75 07/20/96 06/20/11 177.60
BS19 10266120419 23,000.00 23,000.00 08/03/96 07/03/11 178.03
BS19 10266120432 27,283.00 27,283.00 08/08/96 07/08/11 178.19
BS19 10266120458 58,400.00 58,357.70 07/24/96 06/24/16 237.73
BS19 10266120475 164,900.00 164,900.00 08/10/96 07/10/26 358.26
BS19 10266120485 22,500.00 22,433.80 08/01/96 07/01/11 178.00
BS19 10266120511 18,000.00 17,993.88 08/09/96 07/09/11 178.22
BS19 10266120683 76,400.00 76,400.00 08/03/96 07/03/26 358.03
BS19 10266120955 68,100.00 67,469.85 08/08/96 07/08/11 178.19
BS19 10266120971 24,000.00 24,000.00 08/08/96 07/08/11 178.19
BS19 10266120980 53,200.00 52,283.80 08/02/96 07/02/11 177.99
BS19 10266120989 48,000.00 47,822.08 07/28/96 06/28/11 177.86
BS19 10266120991 108,700.00 108,054.78 08/01/96 07/01/11 178.00
BS19 10266121130 23,473.00 23,433.26 08/05/96 07/05/11 178.09
BS19 10266121149 50,000.00 50,000.00 08/09/96 07/09/16 238.22
BS19 10266121153 35,700.00 35,536.59 08/08/96 07/08/11 178.19
BS19 10266121185 106,800.00 106,800.00 08/10/96 07/10/16 238.26
BS19 10266121279 31,500.00 31,318.85 07/24/96 06/24/11 177.73
BS19 10266121329 53,730.00 53,701.80 08/15/96 07/15/11 178.42
BS19 10266121339 120,000.00 120,000.00 07/24/96 06/24/26 357.73
BS19 10266121345 30,000.00 29,905.63 08/08/96 07/08/11 178.19
BS19 10266121354 70,000.00 70,000.00 07/28/96 06/28/11 177.86
BS19 10266121363 31,200.00 31,096.14 08/16/96 07/16/11 178.45
BS19 10266121405 16,000.00 16,000.00 08/01/96 07/01/11 178.00
BS19 10266121427 85,250.00 85,250.00 08/09/96 07/09/16 238.22
BS19 10266121452 130,000.00 129,623.58 08/16/96 07/16/11 178.45
BS19 10266121481 11,400.00 11,317.72 08/10/96 07/10/11 178.26
BS19 10266121485 29,250.00 29,250.00 08/03/96 07/03/11 178.03
BS19 10266121489 73,000.00 72,982.85 08/10/96 07/10/16 238.26
BS19 10266121494 75,000.00 74,876.41 08/12/96 07/12/11 178.32
BS19 10266121508 14,250.00 14,208.15 08/15/96 07/15/11 178.42
BS19 10266121514 26,400.00 26,400.00 07/27/96 06/27/11 177.83
BS19 10266121534 32,250.00 32,250.00 08/11/96 07/11/11 178.29
<CAPTION>
Original Current Scheduled
Date LTV Mortgage Payment
Sale ID Account Due Ratio Rate Int & Prin
- ---------------------------------------------------------------------------------------------
BS19 10266119165 08/20/96 45.3 11.450 384.73
BS19 10266119170 10/10/96 85.0 12.200 663.46
BS19 10266119317 09/15/96 80.0 13.990 203.82
BS19 10266119345 10/18/96 84.6 13.190 246.41
BS19 10266119358 09/02/96 69.7 10.500 599.03
BS19 10266119384 10/01/96 89.7 10.990 637.55
BS19 10266119406 09/08/96 83.9 11.400 471.68
BS19 10266119446 09/21/96 78.1 13.700 255.46
BS19 10266119512 09/25/96 70.0 11.700 322.40
BS19 10266119580 08/24/96 84.9 12.500 531.71
BS19 10266119606 09/09/96 79.9 13.350 430.84
BS19 10266119626 10/01/96 85.0 13.950 559.65
BS19 10266119676 10/02/96 75.0 10.900 507.57
BS19 10266119699 09/08/96 79.9 13.350 170.51
BS19 10266119717 09/10/96 46.8 9.800 196.57
BS19 10266119757 09/28/96 65.0 10.700 276.24
BS19 10266119823 08/25/96 84.6 11.750 1,469.70
BS19 10266119868 09/28/96 84.2 9.750 296.62
BS19 10266119887 08/26/96 85.0 9.990 491.82
BS19 10266119904 09/09/96 85.0 9.990 360.67
BS19 10266119931 09/15/96 90.0 10.750 1,453.43
BS19 10266119972 10/08/96 85.0 12.250 176.29
BS19 10266119990 09/21/96 86.3 12.600 610.85
BS19 10266120021 09/15/96 89.9 11.350 306.47
BS19 10266120025 09/02/96 68.7 11.350 376.86
BS19 10266120031 09/01/96 90.0 10.900 578.20
BS19 10266120072 09/02/96 72.4 10.600 553.33
BS19 10266120210 09/21/96 85.0 9.750 990.50
BS19 10266120315 09/03/96 70.0 9.200 372.67
BS19 10266120385 09/20/96 89.7 12.200 474.31
BS19 10266120419 09/03/96 62.1 14.840 319.39
BS19 10266120432 09/08/96 89.9 11.650 273.31
BS19 10266120458 09/24/96 75.8 9.900 559.71
BS19 10266120475 09/10/96 85.8 11.750 1,664.52
BS19 10266120485 09/01/96 27.1 10.850 253.62
BS19 10266120511 09/09/96 74.3 11.700 212.57
BS19 10266120683 09/03/96 67.6 13.490 874.49
BS19 10266120955 10/08/96 89.9 12.250 828.30
BS19 10266120971 09/08/96 75.7 10.000 210.62
BS19 10266120980 11/02/96 79.9 12.700 662.64
BS19 10266120989 09/28/96 60.4 12.690 597.56
BS19 10266120991 10/01/96 50.7 10.000 1,168.10
BS19 10266121130 09/05/96 89.7 12.600 290.84
BS19 10266121149 09/09/96 32.6 9.250 457.93
BS19 10266121153 10/08/96 89.9 12.350 376.86
BS19 10266121185 09/10/96 89.9 11.400 1,131.60
BS19 10266121279 09/24/96 75.0 9.900 274.11
BS19 10266121329 09/15/96 87.2 11.250 521.86
BS19 10266121339 08/24/96 80.0 13.490 1,373.55
BS19 10266121345 10/08/96 68.7 11.800 303.97
BS19 10266121354 08/28/96 73.4 11.450 690.53
BS19 10266121363 09/16/96 80.0 10.200 339.10
BS19 10266121405 09/01/96 87.8 12.000 192.03
BS19 10266121427 09/09/96 63.3 11.600 915.01
BS19 10266121452 09/16/96 83.8 9.500 1,357.49
BS19 10266121481 09/10/96 80.0 13.990 151.74
BS19 10266121485 09/03/96 65.0 10.600 269.75
BS19 10266121489 09/10/96 89.6 11.650 786.05
BS19 10266121494 09/12/96 38.3 9.750 644.37
BS19 10266121508 09/15/96 71.2 11.000 161.97
BS19 10266121514 08/27/96 89.9 10.950 299.23
BS19 10266121534 09/11/96 75.0 11.350 373.67
</TABLE>
<PAGE>
Alliance Funding Company Page 8 9/16/96
A division of Superior Bank FSB
Sale Schedule
1996-3 Class 1 - Initial Pool of Fixed Rate Mortgages - Settlement 9/23/96
<TABLE>
<CAPTION>
Zip
Sale ID Account Name Address City State Code
- -----------------------------------------------------------------------------------------------------------------------------
<C> <C> <S> <C> <C> <C> <C>
BS19 10266121546 DVORSCHAK THOMAS 8 BROADWAY CAPE MAY NJ 08204
BS19 10266121644 MIDDLE KENNETH L 4575 RAMBLEWOOD DRIVE COLORADO SPRINGS CO 80920
BS19 10266121691 SPIVEY WINNIE M 16896 TRACEY DETROIT MI 48235
BS19 10266121694 DRINKARD DAVID W 3450 W MURRY STREET INDIANAPOLIS IN 46221
BS19 10266121722 CHAPMAN BOBBY R JR 2109 CRISMAN ROAD PORTAGE IN 46368
BS19 10266121740 NICHOL RICHARD 122 FIFTH STREET SLATINGTON PA 18080
BS19 10266121874 HERTHER DANIEL R 609 LILAC LANE WEST BEND WI 53095
BS19 10266121875 GUSHEE PETER H 5048 N BERKELEY BLVD. WHITEFISH BAY WI 53217
BS19 10266121896 DOWNS DONNA 7 HIGH STREET NEW MILFORD CT 06776
BS19 10266122014 NEUGEBAUER WILLIAM C JR 158-17 97TH STREET HOWARD BEACH NY 11414
BS19 10266122037 ENGLISH DAVID S 4110 SOUTH NONCHALANT CIRCLE COLORADO SPRINGS CO 80917
BS19 10266122106 STROUSE HOWARD 2447 SOUTH DARIEN STREET PHILADELPHIA PA 19148
BS19 10266122193 GREGG JOHN I 3405 MT EVEREST NE ALBUQUERQUE NM 87111
BS19 10266122197 GALLEGOS BRUCE J 6 SENATE COURT PUEBLO CO 81005
BS19 10266122217 MARRELLI JOHANNA O 3639 WEST SILVERADO DRIVE SALT LAKE CITY UT 84118
BS19 10266122296 FATOLITIS PHILLIP P 316 BAY STREET TARPON SPRINGS FL 34689
BS19 10266122315 COUCH JEFFREY 271 BUCKLEY HILL ROAD COLCHESTER CT 06415
BS19 10266122338 ARMSTRONG PATRICIA M 2017 PINE STREET BALDWIN NY 11510
BS19 10266122429 FARRELL DELIA FRANCES 4020 RALEIGH STREET DENVER CO 80212
BS19 10266122433 TESTA DEBORAH J 10347 107TH AVENUE N SEMINOLE FL 34643
BS19 10266122490 GARDNER GARY 2885 PEAR TREE LANE CRAWFORDSVILLE IN 47933
BS19 10266122553 SMITH PATRICIA 42 GRASSPOND ROAD LEVITTOWN PA 19057
BS19 10266122658 EVANS WAYNE KEITH 3285 SOUTH BEAVER STREET SALT LAKE CITY UT 84119
BS19 10266122706 VOYTEK RONALD J 80 HITCHCOCK COURT CHESHIRE CT 06410
BS19 10266122713 FISHER HENRY W JR 1572 HOSSLER ROAD MANHEIM PA 17545
BS19 10266122769 SHAFFER LARRY 2 OAK RIDGE COURT POMONA NY 10970
BS19 10266122787 QUINN BRENDAN 77 WALNUT STREET MONROE CT 06468
BS19 10266122801 PHINNEY ROBERT H 2643 NORTH 1325 WEST CLINTON UT 84105
BS19 10266122819 AGUILAR BRYAN L 4455 EAST 121ST PLACE THORNTON CO 80241
BS19 10266122882 HERNANDEZ FELIX 3439 STEPHEN LANE WANTAGH NY 11793
BS19 10266122969 DECKARD LAUREL BOONE 2378 SANDERS ROAD WILLOW SPRINGS NC 27592
BS19 10266123006 CARRATURO JOHN 529 LOCUST AVENUE PORTCHESTER NY 10573
BS19 10266123042 DUNKINS JAMES 3 TIPTON DRIVE BRIDGETON NJ 08302
BS19 10266123054 DWYER PETER J 2 PRESIDENTIAL DRIVE EAST PLAINVIEW NY 11803
BS19 10266123055 SHEARS NORRIS 689 CHARTER COURT UNIONDALE NY 11553
BS19 10266123251 MCMULLEN WENDELL H 3483 WEST EL CABRIO DRIVE WEST VALLEY CITY UT 84119
BS19 10266123255 BLUE WILLIAM E 2741 WEST 38TH AVENUE DENVER CO 80211
BS19 10266123330 HOWARD EMMA R 8202 BRIDLEWOOD PLACE FORESTVILLE MD 20747
BS19 10266123336 ANDREASEN MAX CLAY 5251 SOUTH 5240 WEST SALT LAKE CITY UT 84118
BS19 10266123438 JACOBSON CRAIG P 5625 WEST 4360 SOUTH WEST VALLEY CITY UT 84120
BS19 10266123446 PETERSON ROBERT H 1181 NORTH 2725 WEST LAYTON UT 84041
BS19 10266123447 LARUE JAMES M 7751 SOUTH 2050 EAST SOUTH WEBER UT 84405
BS19 10266123465 STIMAK JOSEPH 900 MEADOW AVENUE CHARLEROI PA 15022
BS19 10266123580 NICEWONGER CLARENCE V RD3 BOX 146 SHELOCTA PA 15774
BS19 10266123673 LYMAN GREGORY K 71 LADY DIANA CIRCLE EVESHAM NJ 08053
BS19 10266123804 BARNES BRENT A 302 32ND STREET OGDEN UT 84401
BS19 10266123857 RHEE YONG SEON 18001 SW INGRID TERRACE BEAVERTON OR 97007
BS19 10266123861 FENTON KEITH CARLTON 1972 VAN BUREN AVENUE OGDEN UT 84401
BS19 10266123862 ROWLEY SHAWN I 4538 WEST VOLTA AVENUE WEST VALLEY CITY UT 84120
BS19 10266123877 SALKIN NEIL 5 ATLAS PLACE NESCONSENT NY 11767
BS19 10266123960 PRICE PATRICIA 115-31 158TH STREET JAMAICA NY 11434
BS19 10266123982 HERNDON OSBORNE P III 1426 FLOTILLA DRIVE HOLIDAY FL 34690
BS19 10266124028 HILLARY DELBERT V 1729 EAST EDGECLIFF DRIVE SANDY UT 84092
BS19 10266124167 EHRHARDT MELVIN LEE 1381 WEST 7200 SOUTH WEST JORDAN UT 84084
BS19 10266124176 OLSEN LAYNE R 3321 NORTH 1050 EAST LAYTON UT 84040
BS19 10266124179 THORNTON GEORGE W 748 EAST LOGAN AVENUE SALT LAKE CITY UT 84105
BS19 10266124182 STONE COREY S 1268 PORTER AVENUE OGDEN UT 84404
BS19 10266124374 BARLOW KERRY J 11259 SOUTH FARNSWORTH LANE SANDY UT 84070
BS19 10266124392 DONALDSON KARL W 464 NORTH 900 WEST SALT LAKE CITY UT 84116
-------------------------------------------
183 Sale Total
449 Total with Banco Santander
<CAPTION>
Principal Cut-off Date First
Balance at Principal Payment Maturity Rem
Sale ID Account Origination Balance Date Date Term
- ---------------------------------------------------------------------------------------------------------------------
<C> <C> <S> <C> <C> <C> <C>
BS19 10266121546 125,000.00 124,863.18 08/15/96 07/15/11 178.42
BS19 10266121644 16,000.00 16,000.00 08/15/96 07/15/11 178.42
BS19 10266121691 32,000.00 31,967.52 07/20/96 06/20/11 177.60
BS19 10266121694 49,000.00 48,962.97 07/24/96 06/24/11 177.73
BS19 10266121722 65,700.00 65,496.68 08/09/96 07/09/16 238.22
BS19 10266121740 66,080.00 65,988.63 07/27/96 06/27/11 177.83
BS19 10266121874 108,000.00 107,915.94 08/10/96 07/10/26 358.26
BS19 10266121875 27,700.00 27,651.08 08/02/96 07/02/11 177.99
BS19 10266121896 25,000.00 24,981.61 08/03/96 07/03/11 178.03
BS19 10266122014 156,000.00 156,000.00 08/02/96 07/02/11 177.99
BS19 10266122037 29,000.00 28,730.48 08/15/96 07/15/11 178.42
BS19 10266122106 25,000.00 24,882.62 07/21/96 06/21/11 177.63
BS19 10266122193 38,800.00 38,793.88 07/25/96 06/25/16 237.76
BS19 10266122197 12,820.00 12,817.11 08/09/96 07/09/11 178.22
BS19 10266122217 94,000.00 94,000.00 08/16/96 07/16/11 178.45
BS19 10266122296 38,700.00 38,700.00 08/03/96 07/03/16 238.03
BS19 10266122315 24,000.00 23,859.78 08/08/96 07/08/11 178.19
BS19 10266122338 59,100.00 59,100.00 08/08/96 07/08/16 238.19
BS19 10266122429 14,970.00 14,970.00 08/09/96 07/09/11 178.22
BS19 10266122433 13,000.00 12,929.38 08/09/96 07/09/11 178.22
BS19 10266122490 68,000.00 67,968.44 08/01/96 07/01/26 358.00
BS19 10266122553 12,000.00 11,988.14 08/12/96 07/12/11 178.32
BS19 10266122658 29,318.00 29,262.00 08/03/96 07/03/11 178.03
BS19 10266122706 37,900.00 37,900.00 08/02/96 07/02/11 177.99
BS19 10266122713 19,600.00 19,542.44 08/03/96 07/03/16 238.03
BS19 10266122769 66,500.00 66,500.00 07/28/96 06/28/11 177.86
BS19 10266122787 16,500.00 16,489.64 08/03/96 07/03/11 178.03
BS19 10266122801 35,644.00 35,436.74 07/21/96 06/21/11 177.63
BS19 10266122819 23,312.00 23,312.00 08/15/96 07/15/11 178.42
BS19 10266122882 85,000.00 84,740.12 08/16/96 07/16/11 178.45
BS19 10266122969 19,200.00 19,169.67 08/09/96 07/09/11 178.22
BS19 10266123006 25,000.00 24,944.13 08/16/96 07/16/16 238.45
BS19 10266123042 102,850.00 102,791.71 08/08/96 07/08/11 178.19
BS19 10266123054 50,000.00 49,789.95 07/04/96 06/04/11 177.07
BS19 10266123055 26,000.00 26,000.00 07/05/96 06/05/11 177.11
BS19 10266123251 10,857.00 10,857.00 08/03/96 07/03/11 178.03
BS19 10266123255 49,500.00 49,500.00 08/09/96 07/09/11 178.22
BS19 10266123330 43,000.00 42,897.36 08/09/96 07/09/11 178.22
BS19 10266123336 12,000.00 11,966.04 08/15/96 07/15/11 178.42
BS19 10266123438 33,309.00 33,237.40 07/26/96 06/26/16 237.80
BS19 10266123446 17,000.00 16,956.76 07/26/96 06/26/11 177.80
BS19 10266123447 44,693.00 44,693.00 08/09/96 07/09/11 178.22
BS19 10266123465 36,200.00 36,200.00 08/12/96 07/12/16 238.32
BS19 10266123580 54,400.00 54,340.75 08/12/96 07/12/26 358.32
BS19 10266123673 165,000.00 165,000.00 08/11/96 07/11/11 178.29
BS19 10266123804 16,700.00 16,495.63 03/06/96 02/06/11 173.16
BS19 10266123857 137,842.00 137,842.00 08/09/96 07/09/11 178.22
BS19 10266123861 29,987.00 29,760.35 08/15/96 07/15/11 178.42
BS19 10266123862 47,000.00 47,000.00 07/28/96 06/28/11 177.86
BS19 10266123877 19,600.00 19,600.00 08/16/96 07/16/16 238.45
BS19 10266123960 57,750.00 57,750.00 07/14/96 06/14/11 177.40
BS19 10266123982 37,000.00 36,978.72 08/15/96 07/15/11 178.42
BS19 10266124028 83,189.00 83,189.00 08/01/96 07/01/16 238.00
BS19 10266124167 11,000.00 10,944.37 08/02/96 07/02/11 177.99
BS19 10266124176 10,786.00 10,786.00 08/02/96 07/02/11 177.99
BS19 10266124179 74,200.00 74,200.00 08/02/96 07/02/16 237.99
BS19 10266124182 12,400.00 12,400.00 08/02/96 07/02/11 177.99
BS19 10266124374 11,000.00 10,990.42 08/15/96 07/15/11 178.42
BS19 10266124392 36,301.00 36,143.30 08/03/96 07/03/11 178.03
--------------------------------------------------------- -------------
183 9,760,536.00 9,743,095.34 213.25
449 25,103,513.00 25,057,646.04 216.53
<CAPTION>
Original Current Scheduled
Date LTV Mortgage Payment
Sale ID Account Due Ratio Rate Int & Prin
- ---------------------------------------------------------------------------------------------
BS19 10266121546 09/15/96 32.0 10.500 1,143.42
BS19 10266121644 09/15/96 75.6 13.990 212.97
BS19 10266121691 09/20/96 74.4 9.500 269.07
BS19 10266121694 08/24/96 70.0 11.990 503.64
BS19 10266121722 09/09/96 90.0 11.150 684.87
BS19 10266121740 09/27/96 80.0 10.700 614.36
BS19 10266121874 09/10/96 90.0 11.150 1,040.77
BS19 10266121875 09/02/96 84.9 12.250 336.91
BS19 10266121896 09/03/96 88.5 12.350 305.69
BS19 10266122014 09/02/96 80.0 9.990 1,367.86
BS19 10266122037 10/15/96 85.0 12.700 361.21
BS19 10266122106 09/21/96 78.1 11.500 247.57
BS19 10266122193 09/30/96 89.9 11.650 417.79
BS19 10266122197 09/09/96 79.9 14.250 172.89
BS19 10266122217 08/16/96 80.0 10.990 894.47
BS19 10266122296 09/03/96 70.3 9.650 364.53
BS19 10266122315 09/08/96 89.9 12.750 299.72
BS19 10266122338 09/08/96 84.9 12.750 681.90
BS19 10266122429 09/09/96 84.9 12.250 182.08
BS19 10266122433 09/09/96 89.0 12.000 156.02
BS19 10266122490 10/01/96 85.0 12.490 725.21
BS19 10266122553 09/12/96 84.8 12.700 149.47
BS19 10266122658 09/03/96 84.8 13.450 379.67
BS19 10266122706 09/02/96 89.9 12.000 389.84
BS19 10266122713 09/03/96 90.0 11.250 205.65
BS19 10266122769 08/28/96 89.7 11.500 776.85
BS19 10266122787 09/03/96 79.3 10.750 184.96
BS19 10266122801 09/21/96 87.1 12.600 441.64
BS19 10266122819 09/15/96 89.9 12.000 279.78
BS19 10266122882 09/16/96 84.7 12.750 1,061.51
BS19 10266122969 09/09/96 79.9 13.250 246.09
BS19 10266123006 09/16/96 77.6 10.250 245.41
BS19 10266123042 09/08/96 85.0 9.900 894.99
BS19 10266123054 09/04/96 78.8 10.750 560.47
BS19 10266123055 09/05/96 80.0 13.750 302.93
BS19 10266123251 09/03/96 85.0 13.200 138.80
BS19 10266123255 09/09/96 85.0 12.990 547.18
BS19 10266123330 09/09/96 88.5 12.600 532.79
BS19 10266123336 09/15/96 79.4 14.250 161.83
BS19 10266123438 09/26/96 89.9 11.400 352.92
BS19 10266123446 09/26/96 86.4 12.200 206.22
BS19 10266123447 09/09/96 89.9 12.200 542.16
BS19 10266123465 09/12/96 85.1 10.250 355.35
BS19 10266123580 09/12/96 80.0 12.600 584.81
BS19 10266123673 09/11/96 84.6 11.990 1,695.94
BS19 10266123804 09/06/96 79.9 15.100 234.88
BS19 10266123857 09/09/96 85.0 12.700 1,492.55
BS19 10266123861 09/15/96 88.7 12.600 371.55
BS19 10266123862 08/28/96 89.8 12.850 590.03
BS19 10266123877 08/16/96 79.9 14.550 251.60
BS19 10266123960 09/14/96 55.0 14.990 729.75
BS19 10266123982 09/15/96 75.0 11.750 438.13
BS19 10266124028 09/01/96 89.6 12.600 951.01
BS19 10266124167 10/02/96 54.6 11.350 127.45
BS19 10266124176 09/02/96 76.2 13.450 139.68
BS19 10266124179 09/02/96 84.9 13.200 879.90
BS19 10266124182 09/02/96 89.8 12.600 153.64
BS19 10266124374 09/15/96 77.2 14.950 153.58
BS19 10266124392 10/03/96 89.8 12.900 456.91
------------------ -------------------------------------------
183 76.9 11.573 102,993.82
449 75.6 11.471 261,667.04
</TABLE>
<PAGE>
Alliance Funding Company Page 9 9/16/96
A division of Superior Bank FSB
Sale Schedule
1996-3 Class 1 - Initial Pool of Fixed Rate Mortgages - Settlement 9/23/96
<TABLE>
<CAPTION>
Zip
Sale ID Account Name Address City State Code
- -----------------------------------------------------------------------------------------------------------------------------
<C> <C> <S> <C> <C> <C> <C>
ML665 10266103069 RAS ROBERT 2 SOUTH 750 AVENUE ORLEANS OAK BROOK IL 60521
ML665 10266105319 THOMAS-ROSE STANLEY 16118 GREENHORN ROAD GRASS VALLEY CA 95945
ML665 10266106981 FREDES GENARO 219 48TH STREET UNION CITY NJ 07087
ML665 10266109620 VAN WYCKHOUSE KATHLEEN 382 VAN WINKLE AVENUE HAWTHORNE NJ 07506
ML665 10266110006 HORTON STEPHEN M 1210 CREEKSIDE DRIVE ALTOONA PA 16601
ML665 10266110212 IHM KERRI 29 STONEHURST LANE DIX HILLS NY 11746
ML665 10266111726 RESTREPO RICARDO 25 NORTH FERNWOOD ROAD MONTAUK NY 11954
ML665 10266111733 MARSH ROBERT R 1014 WEST HACKAMORE STREET TEMPE AZ 85281
ML665 10266111767 WELISCHAR ALBERT V 440 MIDDLE ISLAND ROAD YAPHANK NY 11980
ML665 10266112241 EAGEN EUGENE E JR 4 SCHOOLHOUSE LANE WALLKILL NY 12589
ML665 10266113157 GELT JAMES S 3621 S ALBERTA PLACE TUCSON AZ 85730
ML665 10266113196 BARKLOW LORRI C 12 MAPLE AVENUE BINGHAMTON NY 13901
ML665 10266113480 SCARDINO SALLY J 8794 E MUSTANG TRAIL SCOTTSDALE AZ 85258
ML665 10266113494 HALL BRENDA J 5936 SOUTH LAFLIN CHICAGO IL 60636
ML665 10266113748 SABETPOUR KAZEM 355 NORTHFIELD AVE WEST ORANGE NJ 07052
ML665 10266114185 GELBARD BRUCE L 18 AVON DRIVE FREEHOLD NJ 07728
ML665 10266114286 SHELSBY MARY 1816 BEAN HILL ROAD HONEOYE FALLS NY 14472
ML665 10266114386 RASCON CESAR E 3733 E ELLINGTON PLACE TUCSON AZ 85713
ML665 10266114460 DEPRIEST STERLING M 1442 W SACK DR PHOENIX AZ 85027
ML665 10266114601 REPP DARYL W 5413 SOUTH CHINA CLAY DRIVE SALT LAKE CITY UT 84118
ML665 10266114902 GOTTILLA DANIEL 36 GLENMORE AVENUE HEMPSTEAD NY 11550
ML665 10266114905 PINTER MARY JANE 99 SOUTH PARK AVENUE APT 106 ROCKVILLE CENTRE NY 11570
ML665 10266114980 BENDER PAUL J 2099 SOUTH COORS CIRCLE LAKEWOOD CO 80228
ML665 10266115055 NIEMAN MICHAEL V 7750 HIGHLAND DRIVE SALT LAKE CITY UT 84121
ML665 10266115342 CHARLESWORTH BRUCE G 1935 WEST 75 SOUTH WEST POINT UT 84015
ML665 10266115402 WOOD ROBERT H 701 E 9TH STREET CASA GRANDE AZ 85222
ML665 10266115580 HILTON DAVID GARY 16220 S WILSON RD OREGON CITY OR 97045
ML665 10266115680 RODRIGUEZ DANIEL O 159 WEST 1565 NORTH OREM UT 84057
ML665 10266115682 CLINE ENRIQUETA 324 EAST CORNELL DRIVE MIDVALE UT 84047
ML665 10266115797 SUAREZ RALPH WILLIAM JR 802 HIGHLAND AVENUE NEW EAGLE PA 15067
ML665 10266115846 SANSONE RICHARD C 45 WATERSIDE CLOSE EAST CHESTER NY 10709
ML665 10266115926 SUAREZ RALPH W SR 115 6TH AVE NEW EAGLE PA 15067
ML665 10266115927 SHEPPARD-CAMPBELL AUDREY 3129 MONDAWMIN AVENUE BALTIMORE MD 21216
ML665 10266116098 SWANSON DAWN 6013 BERKSHIRE DRIVE BETHESDA MD 20814
ML665 10266116111 DAVIS RONNIE RAY 1617 ROSEMONT DRIVE COLORADO SPRINGS CO 80911
ML665 10266116138 HOPKINS BRET W 9909 246TH STREET COURT EAST GRAHAM WA 98338
ML665 10266116144 RUDELICH JAN R 3221 SOUTH 200 WEST BOUNTIFUL UT 84010
ML665 10266116339 BARBERIO NICHOLAS K 31 ARCHIBALD WAY SAG HARBOR NY 11963
ML665 10266117018 BOJARSKI JOHN J 160 LINCOLN WAY DRIVE YORK PA 17404
ML665 10266117062 LOVATO JOSEPH C RT 6 BOX 46, LOWER AGUA FRIA SANTA FE NM 87501
ML665 10266117073 RAINS THOMAS R 3441 SOUTH 7895 WEST MAGNA UT 84044
ML665 10266117130 LICCIARDELLO FRANK 21 ANTONA BOULEVARD CENTEREACH NY 11720
ML665 10266117151 MESSING DAVID W 4571 SODA PARKWAY HAMBURG NY 14075
ML665 10266117211 GOODRICH THOMAS S 2743 WAVERLEY STREET PALO ALTO CA 94306
ML665 10266117953 NELSON CHARLES R 88 EAST 656 NORTH VALPARAISO IN 46383
ML665 10266118051 BUCK ERNEST J JR 5323 N CALLE BUJIA TUCSON AZ 85718
ML665 10266118429 MAIER MICHAEL JOSEPH 2305 QUEEN ESTHER DRIVE #101 PARK CITY UT 84060
ML665 10266118510 REICHE MICHAEL T 7811 NORTH 15TH AVENUE PHOENIX AZ 85021
ML665 10266118573 RADITSAS DEMETRE 25-27 SEDGEWICK STREET BRIDGEPORT CT 06606
ML665 10266118577 LUIZZA CHARLES 711 TRUMPET TREE PUNTA GORDA FL 33955
ML665 10266118581 CHAUDHRY ISLAH U 82 VILLAGE STREET VERNON CT 06066
ML665 10266118613 VALDEZ THOMAS F 7704 SANDLEWOOD DR NW ALBUQUERQUE NM 87120
ML665 10266118708 MONTANO WENDY M 2879 SOUTH 2540 EAST SALT LAKE CITY UT 84109
ML665 10266118709 HATCH WILLIAM D 4370 SOUTH 4000 WEST WEST VALLEY CITY UT 84120
ML665 10266118795 COLON DEBRA 22 WOODLAWN AVENUE CENTRAL ISLIP NY 11722
ML665 10266118854 BREHL CHRIS 5533 W CORTEZ STREET GLENDALE AZ 85304
ML665 10266118934 BIGGS RAYMOND 1509 ATLANTIC AVENUE BROOKLYN NY 11213
ML665 10266118949 ELLIS WILLIAM A 6180 SE LUSTED ROAD GRESHAM OR 97080
ML665 10266118950 MARTIN DONALD R JR 14826 N 90TH LANE PEORIA AZ 85381
ML665 10266119016 POLHAUPESSY ARNOLD F 12785 MURPHY AVENUE SAN MARTIN CA 95046
ML665 10266119023 KWON TAE HYUN 4228 SOUTHWEST 314TH PLACE FEDERAL WAY WA 98023
ML665 10266119094 BUTLER JAMES R 3301 & 3303 NORTH TENNYSON ST DENVER CO 80212
<CAPTION>
Principal Cut-off Date First
Balance at Principal Payment Maturity Rem
Sale ID Account Origination Balance Date Date Term
- ---------------------------------------------------------------------------------------------------------------------
<C> <C> <S> <C> <C> <C> <C>
ML665 10266103069 144,000.00 144,000.00 08/09/96 07/09/11 178.22
ML665 10266105319 30,000.00 29,928.97 04/25/96 03/25/11 174.74
ML665 10266106981 66,000.00 66,000.00 07/27/96 06/27/26 357.83
ML665 10266109620 138,750.00 138,691.56 07/21/96 06/21/26 357.63
ML665 10266110006 52,000.00 52,000.00 08/17/96 07/17/11 178.49
ML665 10266110212 200,000.00 199,490.44 07/20/96 06/20/11 177.60
ML665 10266111726 204,000.00 203,983.75 08/08/96 07/08/26 358.19
ML665 10266111733 26,900.00 26,900.00 07/28/96 06/28/11 177.86
ML665 10266111767 115,500.00 115,500.00 07/11/96 06/11/11 177.30
ML665 10266112241 128,000.00 128,000.00 08/08/96 07/08/26 358.19
ML665 10266113157 10,485.00 10,485.00 08/08/96 07/08/11 178.19
ML665 10266113196 59,000.00 58,953.75 07/20/96 06/20/26 357.60
ML665 10266113480 132,000.00 132,000.00 07/13/96 06/13/26 357.37
ML665 10266113494 34,800.00 34,762.80 08/19/96 07/19/16 238.55
ML665 10266113748 121,125.00 121,105.32 07/24/96 06/24/11 177.73
ML665 10266114185 69,500.00 69,310.00 07/03/96 06/03/11 177.04
ML665 10266114286 56,250.00 56,250.00 07/25/96 06/25/26 357.76
ML665 10266114386 10,446.00 10,446.00 07/17/96 06/17/11 177.50
ML665 10266114460 26,770.00 26,720.14 07/26/96 06/26/11 177.80
ML665 10266114601 33,390.00 33,370.16 07/19/96 06/19/11 177.57
ML665 10266114902 106,400.00 106,396.42 08/12/96 07/12/26 358.32
ML665 10266114905 140,000.00 140,000.00 08/16/96 07/16/11 178.45
ML665 10266114980 51,738.00 51,720.89 08/19/96 07/19/16 238.55
ML665 10266115055 75,050.00 75,047.36 07/10/96 06/10/11 177.27
ML665 10266115342 33,329.00 33,142.66 07/12/96 06/12/11 177.34
ML665 10266115402 23,100.00 23,037.11 07/25/96 06/25/11 177.76
ML665 10266115580 38,000.00 38,000.00 08/09/96 07/09/11 178.22
ML665 10266115680 22,800.00 22,800.00 06/28/96 05/28/11 176.84
ML665 10266115682 11,500.00 11,465.01 08/01/96 07/01/11 178.00
ML665 10266115797 47,500.00 47,500.00 08/19/96 07/19/11 178.55
ML665 10266115846 32,200.00 32,200.00 08/03/96 07/03/11 178.03
ML665 10266115926 69,700.00 69,700.00 08/19/96 07/19/11 178.55
ML665 10266115927 48,000.00 48,000.00 07/17/96 06/17/26 357.50
ML665 10266116098 238,000.00 238,000.00 08/16/96 07/16/11 178.45
ML665 10266116111 12,500.00 12,479.06 08/19/96 07/19/11 178.55
ML665 10266116138 14,151.00 14,131.82 08/16/96 07/16/11 178.45
ML665 10266116144 29,500.00 28,691.17 07/18/96 06/18/11 177.53
ML665 10266116339 204,400.00 204,400.00 08/01/96 07/01/11 178.00
ML665 10266117018 26,800.00 26,789.95 08/19/96 07/19/11 178.55
ML665 10266117062 100,000.00 99,958.22 07/28/96 06/28/26 357.86
ML665 10266117073 30,380.00 30,304.93 07/14/96 06/14/11 177.40
ML665 10266117130 202,500.00 202,500.00 08/17/96 07/17/26 358.49
ML665 10266117151 19,500.00 19,493.73 08/17/96 07/17/16 238.49
ML665 10266117211 127,000.00 127,000.00 07/11/96 06/11/11 177.30
ML665 10266117953 19,600.00 19,046.55 07/19/96 06/19/11 177.57
ML665 10266118051 45,000.00 45,000.00 07/18/96 06/18/11 177.53
ML665 10266118429 225,000.00 225,000.00 08/15/96 07/15/11 178.42
ML665 10266118510 65,000.00 63,597.49 07/18/96 06/18/11 177.53
ML665 10266118573 126,000.00 126,000.00 08/19/96 07/19/11 178.55
ML665 10266118577 42,500.00 42,500.00 08/15/96 07/15/11 178.42
ML665 10266118581 26,600.00 26,447.80 07/21/96 06/21/11 177.63
ML665 10266118613 11,807.00 11,802.95 08/09/96 07/09/11 178.22
ML665 10266118708 16,240.00 16,240.00 08/09/96 07/09/11 178.22
ML665 10266118709 33,900.00 33,651.76 08/16/96 07/16/11 178.45
ML665 10266118795 101,700.00 101,646.85 07/25/96 06/25/26 357.76
ML665 10266118854 16,000.00 15,997.82 07/24/96 06/24/11 177.73
ML665 10266118934 112,000.00 112,000.00 07/07/96 06/07/26 357.17
ML665 10266118949 31,609.00 31,413.45 07/18/96 06/18/11 177.53
ML665 10266118950 18,500.00 18,500.00 07/24/96 06/24/11 177.73
ML665 10266119016 25,400.00 25,326.70 07/19/96 06/19/11 177.57
ML665 10266119023 26,700.00 26,700.00 07/24/96 06/24/11 177.73
ML665 10266119094 53,051.00 53,051.00 08/22/96 07/22/11 178.65
<CAPTION>
Original Current Scheduled
Date LTV Mortgage Payment
Sale ID Account Due Ratio Rate Int & Prin
- ---------------------------------------------------------------------------------------------
ML665 10266103069 09/09/96 69.5 10.000 1,263.70
ML665 10266105319 08/25/96 80.8 11.700 301.67
ML665 10266106981 09/27/96 80.0 11.950 676.35
ML665 10266109620 09/21/96 75.0 10.700 1,289.99
ML665 10266110006 08/17/96 80.0 12.600 559.01
ML665 10266110212 09/20/96 54.2 10.500 2,210.80
ML665 10266111726 09/08/96 85.0 12.200 2,129.83
ML665 10266111733 08/28/96 79.9 13.350 346.57
ML665 10266111767 09/11/96 70.0 11.450 1,139.38
ML665 10266112241 09/08/96 80.0 13.490 1,465.12
ML665 10266113157 09/08/96 84.9 12.990 115.90
ML665 10266113196 09/20/96 75.6 11.000 561.87
ML665 10266113480 09/13/96 84.9 11.750 1,332.42
ML665 10266113494 09/19/96 84.8 10.490 347.20
ML665 10266113748 09/24/96 85.0 9.500 1,018.48
ML665 10266114185 09/03/96 84.9 12.500 856.60
ML665 10266114286 09/25/96 75.0 11.350 550.61
ML665 10266114386 09/17/96 90.0 11.250 101.46
ML665 10266114460 08/26/96 87.6 11.650 315.28
ML665 10266114601 08/19/96 90.0 12.600 358.95
ML665 10266114902 09/12/96 80.0 12.850 1,164.53
ML665 10266114905 09/16/96 56.0 10.450 1,275.40
ML665 10266114980 09/19/96 79.9 12.950 604.31
ML665 10266115055 09/10/96 79.9 11.140 722.67
ML665 10266115342 09/12/96 89.9 10.950 377.77
ML665 10266115402 09/25/96 84.9 12.700 287.73
ML665 10266115580 09/09/96 55.8 11.450 442.71
ML665 10266115680 08/28/96 90.0 12.600 245.11
ML665 10266115682 10/01/96 59.5 14.850 159.77
ML665 10266115797 09/19/96 67.8 10.700 441.62
ML665 10266115846 09/03/96 64.3 11.950 385.42
ML665 10266115926 09/19/96 77.4 10.700 648.02
ML665 10266115927 08/17/96 80.0 11.490 474.97
ML665 10266116098 09/16/96 85.0 11.900 2,429.79
ML665 10266116111 09/19/96 73.6 12.750 156.10
ML665 10266116138 09/16/96 79.9 13.450 161.53
ML665 10266116144 09/18/96 73.9 11.100 283.17
ML665 10266116339 09/01/96 80.1 10.250 1,831.63
ML665 10266117018 09/19/96 69.9 12.490 330.14
ML665 10266117062 09/28/96 80.0 12.850 1,094.49
ML665 10266117073 09/14/96 89.9 12.600 326.59
ML665 10266117130 08/17/96 90.0 11.000 1,928.46
ML665 10266117151 09/17/96 90.0 11.250 204.60
ML665 10266117211 08/11/96 78.4 12.050 1,311.23
ML665 10266117953 11/19/96 79.9 13.350 252.52
ML665 10266118051 08/18/96 53.5 10.900 425.15
ML665 10266118429 09/15/96 46.8 10.700 2,091.88
ML665 10266118510 10/18/96 68.4 10.000 698.49
ML665 10266118573 09/19/96 90.0 10.750 1,176.19
ML665 10266118577 09/15/96 56.5 11.490 496.21
ML665 10266118581 09/21/96 66.5 11.550 311.58
ML665 10266118613 09/09/96 74.4 12.490 145.45
ML665 10266118708 09/09/96 84.9 13.700 188.57
ML665 10266118709 10/16/96 89.9 12.350 357.86
ML665 10266118795 09/25/96 90.0 10.750 949.35
ML665 10266118854 08/24/96 85.6 11.650 160.28
ML665 10266118934 09/07/96 70.0 11.700 1,126.25
ML665 10266118949 09/18/96 85.0 12.700 393.71
ML665 10266118950 09/24/96 84.9 12.250 193.86
ML665 10266119016 09/19/96 85.0 10.000 272.95
ML665 10266119023 09/24/96 85.0 13.200 299.53
ML665 10266119094 09/22/96 79.7 13.350 601.40
</TABLE>
<PAGE>
Alliance Funding Company Page 10 9/16/96
A division of Superior Bank FSB
Sale Schedule
1996-3 Class 1 - Initial Pool of Fixed Rate Mortgages - Settlement 9/23/96
<TABLE>
<CAPTION>
Zip
Sale ID Account Name Address City State Code
- -----------------------------------------------------------------------------------------------------------------------------
<C> <C> <S> <C> <C> <C> <C>
ML665 10266119169 CLARK ROGER 3212 MUIR COURT ANTIOCH CA 94509
ML665 10266119234 MORAN ALFREDO J 3553 WEST ALAN AVENUE SALT LAKE CITY UT 84119
ML665 10266119335 MESCH ROBERT 10521 GUADALAJARA NE ALBUQUERQUE NM 87111
ML665 10266119339 GREER WILLIAM S 6441 WEST 108TH AVENUE BROOMFIELD CO 80020
ML665 10266119420 JONES MELCAR 419 LEONARD LANE CAMBRIDGE MD 21613
ML665 10266119457 MILLARD ANN 2660 & 2666 SOUTH WHITNEY BLV ROCKLIN CA 95677
ML665 10266119507 KLIMA F RICHARD 4703 PURITAN CIRCLE TAMPA FL 33617
ML665 10266119511 HITCHCOCK LEON L 2746 SOUTH QUINTERO STREET AURORA CO 80013
ML665 10266119598 KINCAID GARY RAY 17107 EAST EVANS DRIVE AURORA CO 80013
ML665 10266119627 QUINONEZ ANGEL LUIS 617 NORTH HIGHLAND AVENUE CLEARWATER FL 34615
ML665 10266119722 HAMLET WILLIAM M 212 VOSE AVENUE SOUTH ORANGE NJ 07079
ML665 10266119791 KASCH MARTEIN VAN HET HOF 2236 COUNTRY CLUB WOODRIDGE IL 60517
ML665 10266119812 PORELLO EVA M 34780 PETTIBONE ROAD SOLON OH 44139
ML665 10266119841 HENRY CLEO 6620 S. INGLESIDE AVENUE CHICAGO IL 60637
ML665 10266119845 WASHINGTON MARVIN LEE 142 SOUTH 10TH AVENUE MAYWOOD IL 60153
ML665 10266119960 LOVETT JOHN C 3880 SOUTH SPRUCE STREET DENVER CO 80237
ML665 10266120016 SIKORA JANICE 38 STONE STREET ARONA PA 15617
ML665 10266120033 MEGUI JOSHUA E 1351 S 13TH STREET YUMA AZ 85364
ML665 10266120063 WOODWARD TERRY 2649 MARATHON LANE FORT LAUDERDALE FL 33334
ML665 10266120068 ATLANTIC BRYAN A 141 LINDEN AVENUE IRVINGTON NJ 07111
ML665 10266120092 WARD SYLVIA J S-4691 CLIFTON PARKWAY HAMBURG NY 14075
ML665 10266120142 ASHMAN DOUGLAS C 1040 SPRING POND COURT HENDERSON NV 89015
ML665 10266120166 LATHAM ROBIN J 5360 EAST 112TH PLACE THORNTON CO 80233
ML665 10266120219 FRICE GENE M II 2275 AZALEA DRIVE GRANTS PASS OR 97526
ML665 10266120290 NIEDZWIEDZ FLORENCE F 4923 WEST 28TH PLACE CICERO IL 60650
ML665 10266120358 THOMPSON E DANIEL 14041 SOUTHEAST ALLEN ROAD BELLEVUE WA 98006
ML665 10266120455 HAVERKORN WAYNE U 401 SOUTH 38TH STREET TACOMA WA 98408
ML665 10266120732 ALLEN EVELEAN 8541 SOUTH LAFLIN CHICAGO IL 60620
ML665 10266120743 MIKEWORTH JACKIE L 1320 HICKORY AVE ROUND LAKE BEACH IL 60073
ML665 10266120761 KAFURA DANIEL E 2108 S 76TH STREET WEST ALLIS WI 53219
ML665 10266120899 FINAMORE LUISA 23 MORRIS TURNPIKE RANDOLPH NJ 07869
ML665 10266120938 RICHEY JILL R 4375 WEST 5100 SOUTH SALT LAKE CITY UT 84118
ML665 10266120940 RYAN PAT L 720 FIR GARDENS ST NW SALEM OR 97304
ML665 10266121083 BELL LULA ELISE 8 BIEL DRIVE AMITYVILLE NY 11701
ML665 10266121100 CRUZ MIGUEL 151-69 135TH AVENUE JAMAICA NY 11434
ML665 10266121161 VETTER SANDRA KAY 53804 EAST BOBCAT CIRCLE STRASBURG CO 80136
ML665 10266121165 CONNOR RONALD K 2304 100TH AVENUE NORTHEAST BELLEVUE WA 98004
ML665 10266121216 GARSIDE CAROL G 2552 SOUTH ALDEN STREET SALT LAKE CITY UT 84106
ML665 10266121230 LAUER TIMOTHY K 1901 WEST 235TH STREET STEGER IL 60475
ML665 10266121262 DANIELS JIMMIE L 3674 SILSBY ROAD UNIVERSITY HEIGHTS OH 44118
ML665 10266121263 ANNORENO JOSEPH A 1546 NORTH BROADWAY MELROSE PARK IL 60160
ML665 10266121289 NEWMAN JUDITH R 1557 RITCHIE LANE ANNAPOLIS MD 21401
ML665 10266121308 CASA THOMAS 9 FIDDLEHEAD ESTATES OXFORD CT 06478
ML665 10266121376 DANIELS PAMELA S 100 SAN JUAN DRIVE SALINAS CA 93901
ML665 10266121499 LOGAN BENNIE PETE 9129 OLD HARFORD ROAD BALTIMORE MD 21234
ML665 10266121533 MARES JOSEPH H 11586 MARSHALL STREET WESTMINSTER CO 80020
ML665 10266121535 HANNAFORD DONALD M 1151 W. VIEW COURT MEDFORD OR 97504
ML665 10266121606 GREEN GARY LEE 2586 SUE AVENUE SAN JOSE CA 95111
ML665 10266121648 WILLIAMS TERESA ANN 4432 EAST PEAKVIEW AVENUE LITTLETON CO 80121
ML665 10266121662 KRAFFT TADEUSZ 1318 N HIGHLAND ARLINGTON HEIGHTS IL 60004
ML665 10266121687 WEST ROSE M 11676 GRANDMONT DETROIT MI 48227
ML665 10266121701 BARR TIMOTHY M 1807 TIMBER HEIGHTS DRIVE INDIANAPOLIS IN 46240
ML665 10266121804 MOORING ELMER R SR 1510 KINGSWAY ROAD BALTIMORE MD 21218
ML665 10266121838 JONES RANDOLPH MITCHELL HIGHWAY 1214 HENRICO NC 27842
ML665 10266121845 AXELROD DAVID S 335 SOUTH MAGNOLIA STREET DENVER CO 80224
ML665 10266121867 BELL JOHN W 65 RAILROAD STREET MILFORD CENTER OH 43045
ML665 10266121903 HARRISON ROBERT G 108 SHORE DRIVE TARPON SPRINGS FL 34689
ML665 10266121989 BLACKWELL JOHN L 220 WILLIAM STREET RAHWAY NJ 07065
ML665 10266122042 MARTINEZ STEVE JEROME 5090 WEST JARRAD ROAD SALT LAKE CITY UT 84118
ML665 10266122046 SMALL RANDALL TIMOTHY 924 GEORGE CT NW SALEM OR 97304
ML665 10266122061 P LAWRENCE LIAM 933 PICKERING DRIVE YARDLEY PA 19067
ML665 10266122091 CAMPITELLI CAROLYN 1689 FARMINGTON AVENUE POTTSTOWN PA 19464
<CAPTION>
Principal Cut-off Date First
Balance at Principal Payment Maturity Rem
Sale ID Account Origination Balance Date Date Term
- ---------------------------------------------------------------------------------------------------------------------
<C> <C> <S> <C> <C> <C> <C>
ML665 10266119169 26,558.00 26,413.03 07/17/96 06/17/11 177.50
ML665 10266119234 76,000.00 75,742.00 08/19/96 07/19/11 178.55
ML665 10266119335 93,000.00 92,919.86 08/01/96 07/01/11 178.00
ML665 10266119339 27,562.00 27,533.17 08/22/96 07/22/16 238.65
ML665 10266119420 16,800.00 16,529.85 07/14/96 06/14/11 177.40
ML665 10266119457 80,000.00 80,000.00 08/08/96 07/08/11 178.19
ML665 10266119507 28,000.00 28,000.00 08/15/96 07/15/11 178.42
ML665 10266119511 17,000.00 16,992.73 08/09/96 07/09/11 178.22
ML665 10266119598 11,200.00 11,200.00 08/08/96 07/08/11 178.19
ML665 10266119627 119,920.00 119,628.53 07/24/96 06/24/11 177.73
ML665 10266119722 50,000.00 49,961.43 08/16/96 07/16/11 178.45
ML665 10266119791 25,000.00 24,953.53 08/15/96 07/15/16 238.42
ML665 10266119812 42,000.00 42,000.00 08/12/96 07/12/11 178.32
ML665 10266119841 38,000.00 37,894.25 07/28/96 06/28/26 357.86
ML665 10266119845 60,000.00 60,000.00 08/19/96 07/19/16 238.55
ML665 10266119960 47,617.00 47,599.09 08/17/96 07/17/11 178.49
ML665 10266120016 60,000.00 60,000.00 08/15/96 07/15/11 178.42
ML665 10266120033 11,613.00 11,609.72 08/11/96 07/11/11 178.29
ML665 10266120063 26,500.00 26,500.00 08/10/96 07/10/11 178.26
ML665 10266120068 60,775.00 60,684.21 08/16/96 07/16/11 178.45
ML665 10266120092 25,710.00 25,710.00 08/01/96 07/01/11 178.00
ML665 10266120142 162,004.00 161,949.38 07/26/96 06/26/26 357.80
ML665 10266120166 19,000.00 19,000.00 08/19/96 07/19/11 178.55
ML665 10266120219 79,800.00 79,800.00 07/28/96 06/28/11 177.86
ML665 10266120290 15,000.00 14,677.09 08/03/96 07/03/16 238.03
ML665 10266120358 166,500.00 166,500.00 08/15/96 07/15/11 178.42
ML665 10266120455 24,000.00 24,000.00 08/23/96 07/23/16 238.68
ML665 10266120732 65,000.00 65,000.00 08/03/96 07/03/26 358.03
ML665 10266120743 29,700.00 29,639.88 08/22/96 07/22/11 178.65
ML665 10266120761 59,200.00 59,200.00 08/16/96 07/16/11 178.45
ML665 10266120899 115,000.00 114,905.66 08/16/96 07/16/11 178.45
ML665 10266120938 17,000.00 16,855.93 08/08/96 07/08/11 178.19
ML665 10266120940 24,957.00 24,957.00 07/28/96 06/28/11 177.86
ML665 10266121083 61,600.00 61,522.49 08/03/96 07/03/11 178.03
ML665 10266121100 121,500.00 121,500.00 07/19/96 06/19/11 177.57
ML665 10266121161 25,000.00 24,975.31 08/16/96 07/16/11 178.45
ML665 10266121165 192,400.00 192,400.00 08/19/96 07/19/26 358.55
ML665 10266121216 65,000.00 65,000.00 08/23/96 07/23/11 178.68
ML665 10266121230 19,000.00 19,000.00 08/15/96 07/15/16 238.42
ML665 10266121262 73,100.00 72,994.91 08/02/96 07/02/11 177.99
ML665 10266121263 159,500.00 159,367.30 08/10/96 07/10/11 178.26
ML665 10266121289 36,000.00 35,891.29 08/17/96 07/17/11 178.49
ML665 10266121308 175,000.00 174,931.80 07/26/96 06/26/11 177.80
ML665 10266121376 39,000.00 39,000.00 08/02/96 07/02/11 177.99
ML665 10266121499 60,000.00 59,923.79 08/18/96 07/18/11 178.52
ML665 10266121533 26,776.00 26,776.00 08/16/96 07/16/11 178.45
ML665 10266121535 33,900.00 33,826.38 07/19/96 06/19/11 177.57
ML665 10266121606 20,000.00 19,777.45 08/03/96 07/03/11 178.03
ML665 10266121648 38,800.00 38,562.44 07/21/96 06/21/11 177.63
ML665 10266121662 41,600.00 41,600.00 08/22/96 07/22/16 238.65
ML665 10266121687 19,200.00 19,200.00 08/12/96 07/12/11 178.32
ML665 10266121701 28,200.00 28,200.00 08/15/96 07/15/11 178.42
ML665 10266121804 45,400.00 45,250.45 08/17/96 07/17/06 118.49
ML665 10266121838 42,500.00 42,424.30 08/17/96 07/17/11 178.49
ML665 10266121845 64,531.00 64,531.00 08/16/96 07/16/16 238.45
ML665 10266121867 57,800.00 57,709.97 08/03/96 07/03/16 238.03
ML665 10266121903 66,643.00 66,625.60 08/16/96 07/16/11 178.45
ML665 10266121989 119,700.00 119,700.00 07/24/96 06/24/11 177.73
ML665 10266122042 23,400.00 23,400.00 08/17/96 07/17/11 178.49
ML665 10266122046 86,700.00 86,700.00 08/19/96 07/19/26 358.55
ML665 10266122061 23,600.00 23,510.01 08/12/96 07/12/06 118.32
ML665 10266122091 115,200.00 115,145.55 08/09/96 07/09/11 178.22
<CAPTION>
Original Current Scheduled
Date LTV Mortgage Payment
Sale ID Account Due Ratio Rate Int & Prin
- ---------------------------------------------------------------------------------------------
ML665 10266119169 09/17/96 84.7 12.700 330.80
ML665 10266119234 09/19/96 69.0 10.500 695.20
ML665 10266119335 10/01/96 78.8 9.900 809.28
ML665 10266119339 09/22/96 80.0 12.950 321.93
ML665 10266119420 10/14/96 84.9 12.250 204.34
ML665 10266119457 09/08/96 46.5 11.250 777.01
ML665 10266119507 08/15/96 49.5 10.000 300.89
ML665 10266119511 09/09/96 77.8 12.250 206.77
ML665 10266119598 09/08/96 89.9 11.650 131.91
ML665 10266119627 09/24/96 80.0 10.200 1,070.15
ML665 10266119722 09/16/96 67.0 11.150 573.02
ML665 10266119791 09/15/96 38.4 11.350 264.03
ML665 10266119812 09/12/96 71.7 11.250 483.98
ML665 10266119841 09/28/96 54.2 12.250 398.20
ML665 10266119845 09/19/96 69.7 11.990 660.23
ML665 10266119960 09/17/96 84.9 11.400 553.23
ML665 10266120016 09/15/96 35.0 10.700 557.83
ML665 10266120033 09/11/96 80.0 13.990 154.58
ML665 10266120063 09/10/96 79.9 12.950 334.42
ML665 10266120068 09/16/96 65.0 13.990 719.62
ML665 10266120092 09/01/96 89.9 11.250 249.71
ML665 10266120142 09/26/96 89.5 11.150 1,561.19
ML665 10266120166 09/19/96 79.4 13.990 252.90
ML665 10266120219 09/28/96 70.0 11.700 802.45
ML665 10266120290 12/03/96 16.4 9.000 134.96
ML665 10266120358 09/15/96 89.5 11.850 1,693.44
ML665 10266120455 09/23/96 89.4 11.900 262.59
ML665 10266120732 09/03/96 71.4 12.490 693.21
ML665 10266120743 09/22/96 89.8 11.000 337.57
ML665 10266120761 09/16/96 80.0 13.250 666.46
ML665 10266120899 09/16/96 69.0 11.000 1,307.09
ML665 10266120938 10/08/96 76.8 12.350 179.46
ML665 10266120940 08/28/96 79.8 12.950 314.95
ML665 10266121083 10/03/96 80.0 11.100 591.29
ML665 10266121100 08/19/96 66.0 9.990 1,065.35
ML665 10266121161 09/16/96 47.8 11.450 291.25
ML665 10266121165 09/19/96 80.0 13.500 2,203.77
ML665 10266121216 09/23/96 68.4 11.450 641.21
ML665 10266121230 09/15/96 88.6 11.740 205.77
ML665 10266121262 09/02/96 85.0 9.990 785.09
ML665 10266121263 09/10/96 70.8 9.990 1,398.55
ML665 10266121289 09/17/96 80.2 10.400 395.71
ML665 10266121308 09/26/96 63.6 12.700 1,894.90
ML665 10266121376 09/02/96 83.8 12.700 485.77
ML665 10266121499 09/18/96 77.4 12.950 757.17
ML665 10266121533 09/16/96 79.8 12.950 295.15
ML665 10266121535 09/19/96 89.9 12.450 360.49
ML665 10266121606 10/03/96 87.5 11.250 230.47
ML665 10266121648 09/21/96 84.9 12.700 483.28
ML665 10266121662 09/22/96 84.9 12.500 472.63
ML665 10266121687 09/12/96 69.8 10.700 214.62
ML665 10266121701 09/15/96 73.5 11.850 335.73
ML665 10266121804 09/17/96 90.0 11.650 642.21
ML665 10266121838 09/17/96 77.4 10.400 467.16
ML665 10266121845 09/16/96 81.6 12.700 742.28
ML665 10266121867 09/03/96 85.0 9.250 529.37
ML665 10266121903 09/16/96 79.2 12.250 698.35
ML665 10266121989 08/24/96 90.0 12.750 1,300.77
ML665 10266122042 09/17/96 89.8 12.000 240.70
ML665 10266122046 09/19/96 85.0 12.490 924.64
ML665 10266122061 09/12/96 89.0 12.050 339.27
ML665 10266122091 09/09/96 90.0 11.150 1,110.15
</TABLE>
<PAGE>
Alliance Funding Company Page 11 9/16/96
A division of Superior Bank FSB
Sale Schedule
1996-3 Class 1 - Initial Pool of Fixed Rate Mortgages - Settlement 9/23/96
<TABLE>
<CAPTION>
Zip
Sale ID Account Name Address City State Code
- -----------------------------------------------------------------------------------------------------------------------------
<C> <C> <S> <C> <C> <C> <C>
ML665 10266122111 TANG OSCAR B 11821 SOUTHEAST 79TH COURT RENTON WA 98056
ML665 10266122147 NEIL LOUISE R 1883 SUNSET WOODS COURT CLEARWATER FL 34623
ML665 10266122214 HEDLUND DAVID E 1420 LAWRENCE AVENUE SUMNER WA 98390
ML665 10266122227 GRAYSON CHRISTINE A 281 HILL AVENUE GLEN ELLYN IL 60137
ML665 10266122340 VACCARO MARK 391 RAMONA AVENUE STATEN ISLAND NY 10312
ML665 10266122419 HOOGASIAN SHARON 2512 FAWN COURT CLEARWATER FL 34621
ML665 10266122422 SIMERAL GORDON R 11952 STEINKAMP ROAD AUMSVILLE OR 97325
ML665 10266122425 MACKINTOSH GARY E 377 SOMERS ROAD ELLINGTON CT 06029
ML665 10266122428 SMITH CALVIN L 10072 OAK CIRCLE BROOMFIELD CO 80021
ML665 10266122434 GALARZA ELIZABETH 305 LINCOLN BLVD LEHIGH ACRES FL 33936
ML665 10266122520 HOOKS EDGAR WRIGHT JR 2002 S ELM STREET GREENVILLE NC 27834
ML665 10266122524 SPRAGUE BOYD F 1807 ST PAUL AVENUE FAYETTEVILLE NC 28304
ML665 10266122552 NORMAN REBECCA A 41419 DEER CREEK CIRCLE PARKER CO 80134
ML665 10266122564 RILEY LEILA 61 BAUER AVENUE ROOSEVELT NY 11575
ML665 10266122600 RATHMANN MARK A 3923 LAKE ROAD BROCKPORT NY 14420
ML665 10266122627 CISNEROS AURELIANO J 10308 NORTHEAST 141ST PLACE BOTHELL WA 98011
ML665 10266122655 HOPES RICHARD B 3875 WEST MAPLELEAF WAY WEST JORDAN UT 84088
ML665 10266122721 BILLUPS DANIEL D 3325 PEARTREE COURT COLORADO SPRINGS CO 80907
ML665 10266122820 ASCHERMAN MARCI JILL 5123 EAST 23RD AVENUE DENVER CO 80207
ML665 10266122923 BLACKMER RONALD N SR 62 ENGLISH NEIGHBORHOOD ROAD WOODSTOCK CT 06281
ML665 10266122933 LEE WILLIAM 1223 KEENE ROAD CLEARWATER FL 34616
ML665 10266122949 WILLIAMS LEOPOLD 4812 LOWELL ROAD TAMPA FL 33624
ML665 10266122974 CHANG HAK S 13810 SE HOLGATE BOULEVARD PORTLAND OR 97236
ML665 10266123029 CAMPBELL ROBERT LEWIS 310 HOPEWELL ROAD RISING SUN MD 21911
ML665 10266123075 MARDEN RONALD JAMES 56 GARDEN CIRCLE SYOSSET NY 11791
ML665 10266123106 TRUJILLO ELISEO 3361 NW 18TH STREET MIAMI FL 33125
ML665 10266123139 TAYLOR GEORGE W 5685 GREENVILLAGE ROAD CHAMBERSBURG PA 17201
ML665 10266123150 CARR STEWART G 4494 FORTUNE CIRCLE NORTH COLORADO SPRINGS CO 80917
ML665 10266123250 LARSON ROGER K 6621 SOUTH 5180 WEST WEST JORDAN UT 84084
ML665 10266123295 PRESLEY VALRIE F 616 EAST ST ELMO AVENUE COLORADO SPRINGS CO 80906
ML665 10266123314 MARRA KATHLEEN 542 LINDEN STREET WEST HEMPSTEAD NY 11552
ML665 10266123317 COSE JETTA 1963 COVENT COURT LITHONIA GA 30058
ML665 10266123318 LUMLEY WILLIAM K 16 ROBINSON AVENUE MEDFORD NY 11763
ML665 10266123327 LUNN GEOFFREY H 1510 SUMAC AVENUE BOULDER CO 80304
ML665 10266123345 DONNELLY ANNA 11469 RAVENNA ROAD TWINSBURG OH 44087
ML665 10266123440 YOUNG MICHAEL J 53 ELBERTA DRIVE EAST NORTHPORT NY 11731
ML665 10266123472 TYSCO DEBORAH 1832 10TH STREET SW LARGO FL 34648
ML665 10266123477 FINKIEWICZ JOSEPH M 4971 WEST 71ST PL WESTMINSTER CO 80030
ML665 10266123508 ABELES KENNETH A 8711 WELD COUNTY ROAD 23 FORT LUPTON CO 80621
ML665 10266123517 HARDIN LARRY R 199 HARPER STREET LOUISVILLE CO 80027
ML665 10266123537 ISAACSON JAMES M 41 WEST 395 WOODLAND DRIVE ST. CHARLES IL 60175
ML665 10266123550 SULLIVAN MARGARET L 3520 GREENWAY ROYAL OAK MI 48073
ML665 10266123646 BARNES ROBERT G 9707 CISCO DRIVE JACKSONVILLE FL 32219
ML665 10266123647 JUNGST DAVID 1042 EAST BEDFORD DRIVE KAYSVILLE UT 84037
ML665 10266123692 BLACK JOHN T 68 TWIN OAKS DRIVE KINGS PARK NY 11754
ML665 10266123807 MCBRIDE DENISE L 3215 LEYDEN STREET DENVER CO 80207
ML665 10266123810 GASTER ANGELA G 4165 CHENANGO DRIVE COLORADO SPRINGS CO 80911
ML665 10266123858 CLEMONS JOSEPH O 3209 LEIGHTON AVENUE BALTIMORE MD 21215
ML665 10266123876 STUPAK ANNA 7520 RIDGE AVENUE PHILADELPHIA PA 19128
ML665 10266123925 LERO STEINAR 8215 TARSIER AVE NEW PORT RICHEY FL 34653
ML665 10266124128 DESROSIERS DONNA I 9136 GRAY FOX LANE PORT RICHEY FL 34668
ML665 10266124163 ELDRIDGE DUANE B JR 4915 COLONEL BEALL PLACE UPPER MARLBORO MD 20772
ML665 10266124186 ROGERS D ALAN 608 NORTH 1100 WEST CLEARFIELD UT 84015
ML665 10266124290 NORMAN JOHN R JR 236 REYNOLDS ROAD FORT EDWARD NY 12828
ML665 10266124378 ALLEN BRIAN R 7386 SOUTH BANBURY CIRCLE SALT LAKE CITY UT 84121
ML665 10266124383 TRANE THOMAS A 6809 SOUTH 3300 WEST WEST JORDAN UT 84084
ML665 10266124384 CAMPBELL JAMES R 6239 SOUTH LOBELIA DRIVE WEST JORDAN UT 84084
ML665 10266124394 GARCIA ALBERT A 230 NORTH 1ST STREET TOOELE UT 84074
ML665 10266124400 HARPER SCOTT D 559 EAST CALNETTE DRIVE SANDY UT 84070
ML665 10266124407 KING G RANDALL 524 WEST 1240 NORTH OREM UT 84057
ML665 10266124499 SERAFINI BERNADINE H 212 POPPY LANE BENSENVILLE IL 60106
ML665 10266124537 BELL CYNTHIA M 9325 PERRY STREET WESTMINSTER CO 80030
<CAPTION>
Principal Cut-off Date First
Balance at Principal Payment Maturity Rem
Sale ID Account Origination Balance Date Date Term
- ---------------------------------------------------------------------------------------------------------------------
<C> <C> <S> <C> <C> <C> <C>
ML665 10266122111 36,000.00 35,972.32 08/09/96 07/09/11 178.22
ML665 10266122147 11,250.00 11,232.48 08/09/96 07/09/11 178.22
ML665 10266122214 22,000.00 22,000.00 08/12/96 07/12/11 178.32
ML665 10266122227 117,300.00 117,163.91 08/19/96 07/19/16 238.55
ML665 10266122340 32,885.00 32,882.33 08/19/96 07/19/11 178.55
ML665 10266122419 23,400.00 23,400.00 08/17/96 07/17/11 178.49
ML665 10266122422 75,500.00 75,500.00 08/15/96 07/15/11 178.42
ML665 10266122425 32,100.00 32,100.00 08/16/96 07/16/11 178.45
ML665 10266122428 23,750.00 23,629.21 08/17/96 07/17/11 178.49
ML665 10266122434 40,000.00 39,999.81 08/19/96 07/19/26 358.55
ML665 10266122520 123,200.00 123,129.68 08/16/96 07/16/11 178.45
ML665 10266122524 19,300.00 19,260.91 08/15/96 07/15/11 178.42
ML665 10266122552 63,713.00 63,713.00 08/15/96 07/15/11 178.42
ML665 10266122564 20,900.00 20,843.20 08/22/96 07/22/11 178.65
ML665 10266122600 33,700.00 33,642.38 08/19/96 07/19/11 178.55
ML665 10266122627 28,750.00 28,299.07 08/23/96 07/23/11 178.68
ML665 10266122655 55,670.00 55,670.00 08/22/96 07/22/11 178.65
ML665 10266122721 21,719.00 21,690.60 08/22/96 07/22/16 238.65
ML665 10266122820 127,500.00 127,500.00 08/08/96 07/08/26 358.19
ML665 10266122923 35,000.00 34,965.06 08/22/96 07/22/16 238.65
ML665 10266122933 15,000.00 14,959.06 08/16/96 07/16/11 178.45
ML665 10266122949 161,000.00 161,000.00 08/01/96 07/01/11 178.00
ML665 10266122974 48,600.00 48,600.00 08/17/96 07/17/16 238.49
ML665 10266123029 105,170.00 105,170.00 08/03/96 07/03/26 358.03
ML665 10266123075 44,280.00 44,280.00 08/16/96 07/16/16 238.45
ML665 10266123106 29,450.00 29,450.00 08/19/96 07/19/11 178.55
ML665 10266123139 140,250.00 140,243.76 08/19/96 07/19/11 178.55
ML665 10266123150 23,500.00 23,426.40 08/23/96 07/23/11 178.68
ML665 10266123250 31,807.00 31,807.00 07/25/96 06/25/11 177.76
ML665 10266123295 54,000.00 53,992.55 08/19/96 07/19/26 358.55
ML665 10266123314 33,000.00 32,841.32 08/23/96 07/23/11 178.68
ML665 10266123317 74,250.00 74,245.14 08/08/96 07/08/26 358.19
ML665 10266123318 23,800.00 23,735.46 08/23/96 07/23/11 178.68
ML665 10266123327 91,215.00 91,215.00 08/16/96 07/16/11 178.45
ML665 10266123345 35,000.00 34,995.78 08/17/96 07/17/16 238.49
ML665 10266123440 15,800.00 15,774.42 08/19/96 07/19/11 178.55
ML665 10266123472 57,800.00 57,800.00 08/19/96 07/19/16 238.55
ML665 10266123477 20,900.00 20,855.26 08/22/96 07/22/11 178.65
ML665 10266123508 84,000.00 84,000.00 08/16/96 07/16/11 178.45
ML665 10266123517 104,000.00 104,000.00 08/22/96 07/22/26 358.65
ML665 10266123537 144,000.00 144,000.00 08/17/96 07/17/26 358.49
ML665 10266123550 30,000.00 30,000.00 08/19/96 07/19/11 178.55
ML665 10266123646 17,500.00 17,458.29 08/22/96 07/22/06 118.65
ML665 10266123647 23,000.00 22,982.46 08/17/96 07/17/11 178.49
ML665 10266123692 33,000.00 33,000.00 08/23/96 07/23/11 178.68
ML665 10266123807 19,000.00 18,775.20 08/22/96 07/22/11 178.65
ML665 10266123810 31,300.00 31,300.00 08/19/96 07/19/16 238.55
ML665 10266123858 50,200.00 50,200.00 08/17/96 07/17/11 178.49
ML665 10266123876 25,000.00 24,884.01 08/19/96 07/19/06 118.55
ML665 10266123925 15,900.00 15,845.33 08/19/96 07/19/11 178.55
ML665 10266124128 28,500.00 28,500.00 08/23/96 07/23/11 178.68
ML665 10266124163 54,695.00 54,375.57 08/16/96 07/16/11 178.45
ML665 10266124186 45,948.00 45,948.00 08/02/96 07/02/11 177.99
ML665 10266124290 26,200.00 26,198.92 08/22/96 07/22/11 178.65
ML665 10266124378 74,000.00 73,808.77 08/03/96 07/03/16 238.03
ML665 10266124383 58,900.00 58,886.99 08/05/96 07/05/11 178.09
ML665 10266124384 49,640.00 49,424.19 08/03/96 07/03/11 178.03
ML665 10266124394 16,000.00 15,949.04 08/03/96 07/03/11 178.03
ML665 10266124400 37,000.00 36,833.05 08/03/96 07/03/11 178.03
ML665 10266124407 42,500.00 42,493.64 08/03/96 07/03/11 178.03
ML665 10266124499 54,900.00 54,900.00 08/12/96 07/12/11 178.32
ML665 10266124537 105,300.00 105,300.00 08/22/96 07/22/26 358.65
<CAPTION>
Original Current Scheduled
Date LTV Mortgage Payment
Sale ID Account Due Ratio Rate Int & Prin
- ---------------------------------------------------------------------------------------------
ML665 10266122111 09/09/96 71.4 12.200 436.70
ML665 10266122147 09/09/96 10.4 9.700 118.84
ML665 10266122214 09/12/96 89.6 11.400 255.60
ML665 10266122227 09/19/96 85.0 9.990 1,131.19
ML665 10266122340 09/19/96 89.9 12.250 344.60
ML665 10266122419 09/17/96 85.0 12.690 291.31
ML665 10266122422 09/15/96 81.9 12.990 834.59
ML665 10266122425 09/16/96 89.8 12.500 395.64
ML665 10266122428 09/17/96 83.0 11.750 281.23
ML665 10266122434 09/19/96 80.0 13.250 450.31
ML665 10266122520 09/16/96 80.0 12.900 1,550.68
ML665 10266122524 09/15/96 84.9 12.700 240.39
ML665 10266122552 09/15/96 79.9 13.750 742.33
ML665 10266122564 09/22/96 89.9 11.250 240.84
ML665 10266122600 09/19/96 89.7 12.500 415.36
ML665 10266122627 10/23/96 81.9 12.990 363.57
ML665 10266122655 09/22/96 90.0 12.000 572.63
ML665 10266122721 09/22/96 79.9 14.250 274.03
ML665 10266122820 08/08/96 85.0 11.700 1,282.11
ML665 10266122923 09/22/96 36.8 10.900 358.89
ML665 10266122933 09/16/96 73.7 10.450 165.35
ML665 10266122949 09/01/96 84.7 9.900 1,401.01
ML665 10266122974 09/17/96 79.1 12.950 567.66
ML665 10266123029 09/03/96 80.9 9.950 919.06
ML665 10266123075 09/16/96 89.8 11.400 469.17
ML665 10266123106 09/19/96 84.7 11.900 351.56
ML665 10266123139 09/19/96 85.0 9.750 1,204.96
ML665 10266123150 09/23/96 89.8 12.000 282.04
ML665 10266123250 08/25/96 89.9 12.600 394.10
ML665 10266123295 09/19/96 90.0 11.500 534.76
ML665 10266123314 09/23/96 84.8 12.750 412.12
ML665 10266123317 09/08/96 90.0 12.400 786.68
ML665 10266123318 09/23/96 85.0 12.750 297.22
ML665 10266123327 09/16/96 84.9 12.990 1,008.31
ML665 10266123345 09/17/96 38.4 9.000 314.90
ML665 10266123440 09/19/96 85.0 12.990 199.80
ML665 10266123472 09/19/96 85.0 10.250 567.39
ML665 10266123477 09/22/96 89.9 12.000 250.84
ML665 10266123508 09/16/96 80.0 10.750 784.12
ML665 10266123517 09/22/96 72.2 13.500 1,191.23
ML665 10266123537 09/17/96 80.0 11.000 1,371.35
ML665 10266123550 09/19/96 25.8 10.990 285.47
ML665 10266123646 09/22/96 35.0 10.900 240.07
ML665 10266123647 09/17/96 79.6 11.650 230.40
ML665 10266123692 08/23/96 79.2 12.990 417.31
ML665 10266123807 10/22/96 83.8 10.750 212.98
ML665 10266123810 09/19/96 84.9 12.990 366.48
ML665 10266123858 09/17/96 80.9 12.500 535.76
ML665 10266123876 09/19/96 15.6 10.300 334.54
ML665 10266123925 09/19/96 84.9 10.450 175.27
ML665 10266124128 09/23/96 75.0 13.500 326.44
ML665 10266124163 09/16/96 85.8 9.950 586.08
ML665 10266124186 09/02/96 83.9 12.600 569.31
ML665 10266124290 09/22/96 84.9 12.990 289.62
ML665 10266124378 10/03/96 89.9 12.200 825.15
ML665 10266124383 09/05/96 89.8 12.900 741.36
ML665 10266124384 10/03/96 89.4 12.840 622.85
ML665 10266124394 09/03/96 84.0 12.600 198.25
ML665 10266124400 10/03/96 76.2 14.700 510.27
ML665 10266124407 09/03/96 83.7 12.050 511.44
ML665 10266124499 09/12/96 73.0 12.990 606.87
ML665 10266124537 09/22/96 90.0 11.500 1,042.78
</TABLE>
<PAGE>
Alliance Funding Company Page 12 9/16/96
A division of Superior Bank FSB
Sale Schedule
1996-3 Class 1 - Initial Pool of Fixed Rate Mortgages - Settlement 9/23/96
<TABLE>
<CAPTION>
Zip
Sale ID Account Name Address City State Code
- -----------------------------------------------------------------------------------------------------------------------------
<C> <C> <S> <C> <C> <C> <C>
ML665 10266124692 PERSSICO VINCENT P JR 170 CEDAR STREET SEYMOUR CT 06483
ML665 10266124714 BERNARD ROBERT B RD 1 BOX 685 SPORTSMAN ROAD HUNKER PA 15639
ML665 10266124744 DRAPER SUZANNE R 8523 SOUTH JACKSON HOLE DRIVE SANDY UT 84093
ML665 10266124745 TINCHER CLIFTON R 1809 NORTH 285 WEST LAYTON UT 84041
ML665 10266124746 GLOVER KENNETH J 10577 SOUTH CLEARVIEW DRIVE SANDY UT 84070
ML665 10266124747 SANDOZ DOUGLAS G 4423 SOUTH 1800 WEST ROY UT 84067
ML665 10266124817 WEAVER CHRISTIAN L 1924 ELIZABETH STREET PUEBLO CO 81003
ML665 10266124913 GLOWINSKI DONALD A JR 3525 E SOUTHPORT INDIANAPOLIS IN 46227
ML665 10266124962 MERRILL JOHN A 7327 SOUTH 1975 WEST WEST JORDAN UT 84084
ML665 10266124993 MCCOY CAROLYN F 4134 THE ALAMEDA BALTIMORE MD 21218
ML665 10266125023 WALJE BARRY J 12810 SOUTH NATALIE DRIVE RIVERTON UT 84065
ML665 10266125026 GOSSIN WILLIAM R 428 HICKORY STREET BROOMFIELD CO 80022
ML665 10266125036 GRGICH DANIEL A 478 SLEEPY HOLLOW DRIVE TOOELE UT 84074
ML665 10266125161 PETER GERALD J 1942 TRUDA DRIVE NORTHGLENN CO 80233
ML665 10266125172 YOUNG RAY A 5860 OAKWOOD BLVD COLORADO SPRINGS CO 80918
ML665 10266125310 GONZALEZ ROGELIO 856/858/860 FOX STREET DENVER CO 80204
ML665 10266125424 DAVIS WILLIAM BOSTOCK ROAD SHOKAN NY 12481
ML665 10266125586 ALCOCER JULIO 3525 HARRISON STREET DENVER CO 80205
ML665 10266126016 HUDSON JEFFREY E 4075 SOUTH 3515 WEST SALT LAKE CITY UT 84119
-------------------------------------------
205 Sale Total
<CAPTION>
Principal Cut-off Date First
Balance at Principal Payment Maturity Rem
Sale ID Account Origination Balance Date Date Term
- ---------------------------------------------------------------------------------------------------------------------
<C> <C> <S> <C> <C> <C> <C>
ML665 10266124692 75,000.00 74,871.37 08/24/96 07/24/16 238.72
ML665 10266124714 74,000.00 74,000.00 08/12/96 07/12/11 178.32
ML665 10266124744 42,100.00 42,100.00 08/09/96 07/09/11 178.22
ML665 10266124745 14,257.00 14,257.00 08/09/96 07/09/11 178.22
ML665 10266124746 11,000.00 10,963.10 08/09/96 07/09/11 178.22
ML665 10266124747 25,621.00 25,590.12 08/09/96 07/09/11 178.22
ML665 10266124817 93,400.00 93,400.00 08/22/96 07/22/11 178.65
ML665 10266124913 102,000.00 101,908.63 08/17/96 07/17/26 358.49
ML665 10266124962 15,775.00 15,757.81 08/23/96 07/23/11 178.68
ML665 10266124993 63,750.00 63,750.00 08/23/96 07/23/11 178.68
ML665 10266125023 18,567.00 18,503.56 08/10/96 07/10/11 178.26
ML665 10266125026 111,600.00 111,600.00 08/19/96 07/19/26 358.55
ML665 10266125036 22,515.00 22,490.04 08/10/96 07/10/11 178.26
ML665 10266125161 13,400.00 13,400.00 08/18/96 07/18/11 178.52
ML665 10266125172 15,760.00 15,760.00 08/22/96 07/22/11 178.65
ML665 10266125310 79,100.00 79,010.94 08/22/96 07/22/11 178.65
ML665 10266125424 45,500.00 45,415.52 07/28/96 06/28/16 237.86
ML665 10266125586 59,500.00 59,435.38 08/22/96 07/22/26 358.65
ML665 10266126016 38,300.00 38,217.68 08/19/96 07/19/11 178.55
--------------------------------------------------------- -------------
205 12,001,124.00 11,988,860.69 228.18
<CAPTION>
Original Current Scheduled
Date LTV Mortgage Payment
Sale ID Account Due Ratio Rate Int & Prin
- ---------------------------------------------------------------------------------------------
ML665 10266124692 09/24/96 53.5 13.590 910.39
ML665 10266124714 09/12/96 80.0 10.500 676.91
ML665 10266124744 09/09/96 65.9 14.090 563.21
ML665 10266124745 09/09/96 79.7 15.350 202.97
ML665 10266124746 09/09/96 82.2 13.350 141.72
ML665 10266124747 09/09/96 72.3 15.350 364.75
ML665 10266124817 08/22/96 74.7 10.250 836.96
ML665 10266124913 09/17/96 85.0 9.000 820.72
ML665 10266124962 09/23/96 89.9 11.650 158.03
ML665 10266124993 09/23/96 85.0 10.950 604.70
ML665 10266125023 09/10/96 89.7 12.900 233.70
ML665 10266125026 09/19/96 90.0 11.500 1,105.17
ML665 10266125036 09/10/96 67.3 12.200 273.12
ML665 10266125161 08/18/96 89.9 12.000 160.82
ML665 10266125172 08/22/96 80.0 14.250 212.54
ML665 10266125310 09/22/96 70.0 10.100 854.86
ML665 10266125424 09/28/96 70.0 10.500 454.26
ML665 10266125586 09/22/96 85.0 12.250 623.50
ML665 10266126016 09/19/96 73.7 10.950 434.11
------------------ -------------------------------------------
205 77.6 11.581 125,792.29
</TABLE>
<PAGE>
Alliance Funding Company Page 13 9/16/96
A division of Superior Bank FSB
Sale Schedule
1996-3 Class 1 - Initial Pool of Fixed Rate Mortgages - Settlement 9/23/96
<TABLE>
<CAPTION>
Zip
Sale ID Account Name Address City State Code
- -----------------------------------------------------------------------------------------------------------------------------
<C> <C> <S> <C> <C> <C> <C>
ML666 10266108808 MCGUIRK TERRI-LYNNE T 30 CLOVER HILL DRIVE CALIFON NJ 07830
ML666 10266109823 BILOTTI JOHN F 124 RIVA BOULEVARD BRICK NJ 08723
ML666 10266109866 ZIERKE PEGGY J 5050 TROY STREET DENVER CO 80239
ML666 10266110805 GAYLORD LEON J JR 401 PROSPECT AVENUE LITTLE SILVER NJ 07739
ML666 10266111903 MELFI AGNES 65 HELENE COURT STATEN ISLAND NY 10309
ML666 10266113841 DETRINIS VINCENT P 191 NORWOOD AVENUE PORT JEFFERSON STATI NY 11776
ML666 10266113970 RITTER CHRISTOPHER S 734 N WEST STREET CARLISLE PA 17013
ML666 10266113979 RODRIGUEZ PEDRO 12 CONEWAGO HILL ROAD MOUNT GRETNA PA 17064
ML666 10266113997 ROBERSON BRYAN K 3003 MISTYMORN TRACE POWDER SPRINGS GA 30073
ML666 10266114236 PAUL MICHAEL E 5218 VISTA GRANDE DRIVE SANTA ROSA CA 95403
ML666 10266114540 RENNA DOMENICO 580 WOODROW ROAD STATEN ISLAND NY 10312
ML666 10266115753 KING PAUL E 3004 OWASCO DRIVE WATERLOO NY 13165
ML666 10266115811 CRUZ DANIEL 3726 MEADOW LANE YORKTOWN NY 10588
ML666 10266115966 LYNCH DAVID T 689 S PANTANO PARKWAY TUCSON AZ 85710
ML666 10266116182 REMSEN DAVID H 162 SOUTH HAVEN AVENUE MASTIC NY 11950
ML666 10266116392 KRAMER ALVIN 18 STONYWELL COURT DIX HILLS NY 11746
ML666 10266116986 PARENTE JOHN R 15 CANTERBURY LANE LEBANON NJ 08833
ML666 10266117022 OST RICHARD A 9039 BILLOW ROW COLUMBIA MD 21045
ML666 10266117131 LOCONTE LOUIS V 87 VINCENT AVENUE STATEN ISLAND NY 10306
ML666 10266117155 SUNG JANG OK 25 WAVERLY ROAD CHERRY HILL NJ 08003
ML666 10266117190 ROUTHIER DAVID A JR 722 HOLMES DRIVE COLORADO SPRINGS CO 80909
ML666 10266118008 STUMM GARY M 918-920 WELLER STREET LIVE OAK FL 32060
ML666 10266118079 MENSINGER WAYNE E 20 KNOCKEL ROAD GREEN LANE PA 18054
ML666 10266118241 MUOIO ILONA 109 LISPENARD AVENUE NEW ROCHELLE NY 10801
ML666 10266118340 STERLING PAULINE 155 32 114TH ROAD JAMAICA NY 11435
ML666 10266118381 JONES WILLIAM III 2257 MOUNT CARMEL AVENUE GLENSIDE PA 19038
ML666 10266118478 ZAMANI ROBAB A 1597 CAREY PLACE FREDERICK MD 21701
ML666 10266118625 YOX KENNETH 12815 ERIE STREET IRVING NY 14081
ML666 10266118664 GALLEGOS SAMUEL F 1789 CHAUTAUQUA DRIVE COLORADO SPRINGS CO 80915
ML666 10266118823 BURTON LYLE E 1574 EAST CHEROKEE DRIVE PLEASANT GROVE UT 84062
ML666 10266118916 LINKO JOHN 1421 ARMACOST ROAD PARKTON MD 21120
ML666 10266118978 QUINN MARGARET M 323 12TH AVENUE INDIAN ROCKS BEACH FL 34635
ML666 10266119034 GUERRIERO NEIL H 49 CHERRYVILLE HOLLOW ROAD FLEMINGTON NJ 08822
ML666 10266119041 JAMISON PATRICIA B 25 NORTH LOCUST STREET LITITZ PA 17543
ML666 10266119072 HAGEN ROBERT A 6411 SOUTH CLERNATES DRIVE WEST JORDAN UT 84084
ML666 10266119083 GRIMES MARY J 3259 ZINNIA COURT GOLDEN CO 80401
ML666 10266119153 MANANZAN TEOFILO 31 HARMONY ROAD SPRING VALLEY NY 10977
ML666 10266119184 SUDLER GAIL E 1015 EAST 27TH STREET WILMINGTON DE 19802
ML666 10266119208 MAGLOIRE GEORGE 32 WELLINGTON ROAD ELMONT NY 11003
ML666 10266119218 DEAL ANNA RR #1 BOX 1542 ROUTE 507 GOULDSBORO PA 18429
ML666 10266119227 SUDLER ROBIN E 1004 BALTIMORE AVENUE ELSMERE DE 19805
ML666 10266119265 FORMICA EDWARD 20 EAST 3RD STREET HOWELL NJ 07731
ML666 10266119284 CURWEN JR ERNEST 1839 NORTH 500 WEST LEHI UT 84043
ML666 10266119288 CASEY ROBERT F JR 25 MEMORY LANE LA HONDA CA 94020
ML666 10266119316 SAMOWITZ SANDOR 4358 INVERARY WALK ROSWELL GA 30075
ML666 10266119330 TAYLOR JUDITH L 6357 81ST AVENUE N PINELLAS PARK FL 34665
ML666 10266119331 LEWIS MALCOLM L 5010 LEWIS WAY MOAPA NV 89025
ML666 10266119334 MAES JOHN R 5324 DON MARIANO SW ALBUQUERQUE NM 87105
ML666 10266119346 LLOYD E LYNN 12268 SOUTH 1300 WEST RIVERTON UT 84065
ML666 10266119372 GARBER JACOB E JR 6 COOK ROAD DUNCANNON PA 17020
ML666 10266119376 GERMANY HARVEY L JR 7236 MOUNT VERNON STREET PITTSBURGH PA 15208
ML666 10266119426 WINTERSTEIN MICHAEL E 437 W JAMES STREET LANCASTER PA 17603
ML666 10266119430 CANNON DAVID P JR 207 CLAYTON AVENUE CLAYTON DE 19938
ML666 10266119513 MONTGOMERY CHARLES R 207 NORTH TOQUERVILLE BLVD TOQUERVILLE UT 84774
ML666 10266119605 MAJETT JOSEPHINE 5164 PENNWAY STREET PHILADELPHIA PA 19124
ML666 10266119616 FIERSON JEFFREY 722 WEBSTER AVENUE NEW ROCHELLE NY 10801
ML666 10266119660 MCDANIEL VIVIAN I 3101 FLORIDA STREET NE ALBUQUERQUE NM 87110
ML666 10266119839 DUNCAN KENDRA E 26056 S. DIXIE HIGHWAY CRETE IL 60417
ML666 10266119987 YATES DAVID J JR 333 COUNTRY PARKWAY AMHERST NY 14221
ML666 10266120058 KILPATRICK ALTON 348 CIRCLE DRIVE WACHULA FL 33873
ML666 10266120298 POST KERRI A 1002 WILMINGTON AVENUE BALTIMORE MD 21223
ML666 10266120310 MEDINA FIDIAS 508 PUGSLEY AVENUE BRONX NY 10473
<CAPTION>
Principal Cut-off Date First
Balance at Principal Payment Maturity Rem
Sale ID Account Origination Balance Date Date Term
- ---------------------------------------------------------------------------------------------------------------------
<C> <C> <S> <C> <C> <C> <C>
ML666 10266108808 15,000.00 14,995.53 07/05/96 06/05/11 177.11
ML666 10266109823 89,000.00 88,507.50 05/25/96 04/25/11 175.76
ML666 10266109866 41,000.00 40,845.78 07/24/96 06/24/11 177.73
ML666 10266110805 24,000.00 23,828.89 06/20/96 05/20/11 176.58
ML666 10266111903 50,000.00 49,834.52 07/24/96 06/24/11 177.73
ML666 10266113841 30,495.00 30,495.00 08/16/96 07/16/11 178.45
ML666 10266113970 10,000.00 9,961.77 08/26/96 07/26/11 178.78
ML666 10266113979 19,000.00 18,941.39 08/19/96 07/19/06 118.55
ML666 10266113997 79,980.00 79,980.00 08/01/96 07/01/26 358.00
ML666 10266114236 46,200.00 46,200.00 07/19/96 06/19/11 177.57
ML666 10266114540 70,000.00 70,000.00 08/02/96 07/02/11 177.99
ML666 10266115753 39,000.00 38,910.01 08/19/96 07/19/26 358.55
ML666 10266115811 117,300.00 117,300.00 08/17/96 07/17/26 358.49
ML666 10266115966 30,000.00 30,000.00 07/28/96 06/28/11 177.86
ML666 10266116182 90,000.00 89,928.93 08/16/96 07/16/26 358.45
ML666 10266116392 237,500.00 236,463.99 07/28/96 06/28/11 177.86
ML666 10266116986 90,000.00 89,931.68 08/01/96 07/01/11 178.00
ML666 10266117022 26,450.00 26,450.00 08/22/96 07/22/11 178.65
ML666 10266117131 23,000.00 23,000.00 08/01/96 07/01/11 178.00
ML666 10266117155 20,600.00 20,600.00 09/01/96 08/01/11 179.00
ML666 10266117190 15,000.00 14,876.48 08/10/96 07/10/11 178.26
ML666 10266118008 38,800.00 38,712.92 08/15/96 07/15/11 178.42
ML666 10266118079 90,900.00 90,589.90 08/17/96 07/17/11 178.49
ML666 10266118241 40,000.00 39,953.27 07/24/96 06/24/16 237.73
ML666 10266118340 139,500.00 139,430.19 08/08/96 07/08/26 358.19
ML666 10266118381 21,500.00 21,461.12 07/26/96 06/26/11 177.80
ML666 10266118478 18,713.00 18,664.68 08/26/96 07/26/11 178.78
ML666 10266118625 45,000.00 44,887.65 08/17/96 07/17/16 238.49
ML666 10266118664 41,740.00 41,739.99 08/24/96 07/24/11 178.72
ML666 10266118823 27,000.00 26,979.15 08/17/96 07/17/11 178.49
ML666 10266118916 57,254.00 57,254.00 08/05/96 07/05/11 178.09
ML666 10266118978 101,600.00 101,370.12 07/14/96 06/14/26 357.40
ML666 10266119034 153,500.00 153,500.00 08/09/96 07/09/11 178.22
ML666 10266119041 64,600.00 64,542.18 08/12/96 07/12/26 358.32
ML666 10266119072 20,000.00 19,936.71 08/26/96 07/26/11 178.78
ML666 10266119083 65,000.00 63,988.94 07/26/96 06/26/11 177.80
ML666 10266119153 107,200.00 107,200.00 08/11/96 07/11/11 178.29
ML666 10266119184 42,000.00 42,000.00 08/26/96 07/26/11 178.78
ML666 10266119208 35,000.00 34,901.63 08/03/96 07/03/11 178.03
ML666 10266119218 59,850.00 59,826.61 08/16/96 07/16/11 178.45
ML666 10266119227 52,585.00 52,585.00 08/26/96 07/26/11 178.78
ML666 10266119265 30,500.00 30,448.70 08/19/96 07/19/11 178.55
ML666 10266119284 55,000.00 54,389.32 07/01/96 06/01/11 177.00
ML666 10266119288 114,000.00 113,834.04 07/26/96 06/26/11 177.80
ML666 10266119316 113,600.00 113,563.70 07/07/96 06/07/11 177.17
ML666 10266119330 50,400.00 50,397.16 08/09/96 07/09/26 358.22
ML666 10266119331 150,000.00 149,300.36 07/17/96 06/17/16 237.50
ML666 10266119334 90,000.00 88,983.41 07/25/96 06/25/11 177.76
ML666 10266119346 30,000.00 30,000.00 07/10/96 06/10/11 177.27
ML666 10266119372 46,400.00 46,400.00 08/24/96 07/24/16 238.72
ML666 10266119376 19,500.00 19,500.00 08/18/96 07/18/11 178.52
ML666 10266119426 148,000.00 148,000.00 08/08/96 07/08/11 178.19
ML666 10266119430 43,300.00 43,300.00 08/01/96 07/01/11 178.00
ML666 10266119513 71,250.00 71,250.00 08/25/96 07/25/26 358.75
ML666 10266119605 32,900.00 32,900.00 08/17/96 07/17/11 178.49
ML666 10266119616 59,500.00 59,500.00 08/01/96 07/01/11 178.00
ML666 10266119660 84,000.00 83,993.66 08/09/96 07/09/11 178.22
ML666 10266119839 72,200.00 71,953.04 07/19/96 06/19/16 237.57
ML666 10266119987 37,790.00 37,790.00 07/27/96 06/27/11 177.83
ML666 10266120058 76,050.00 76,050.00 08/11/96 07/11/26 358.29
ML666 10266120298 52,000.00 52,000.00 07/24/96 06/24/11 177.73
ML666 10266120310 171,000.00 171,000.00 08/10/96 07/10/26 358.26
<CAPTION>
Original Current Scheduled
Date LTV Mortgage Payment
Sale ID Account Due Ratio Rate Int & Prin
- ---------------------------------------------------------------------------------------------
ML666 10266108808 09/05/96 86.6 10.740 139.91
ML666 10266109823 08/25/96 64.9 13.100 991.48
ML666 10266109866 09/24/96 77.2 11.000 466.00
ML666 10266110805 09/20/96 79.6 14.990 335.74
ML666 10266111903 09/24/96 17.2 9.990 438.42
ML666 10266113841 08/16/96 85.5 12.250 319.56
ML666 10266113970 09/26/96 11.5 11.250 115.23
ML666 10266113979 09/19/96 77.1 13.350 287.63
ML666 10266113997 09/01/96 77.6 13.050 887.87
ML666 10266114236 09/19/96 84.9 13.450 527.36
ML666 10266114540 09/02/96 62.1 11.990 839.67
ML666 10266115753 09/19/96 87.6 11.150 375.83
ML666 10266115811 09/17/96 85.0 12.500 1,251.89
ML666 10266115966 08/28/96 89.5 11.650 353.32
ML666 10266116182 09/16/96 90.0 10.900 850.30
ML666 10266116392 09/28/96 60.8 9.750 2,515.99
ML666 10266116986 10/01/96 85.0 12.950 992.06
ML666 10266117022 09/22/96 85.8 12.700 329.45
ML666 10266117131 09/01/96 59.0 11.350 266.49
ML666 10266117155 09/01/96 80.1 12.850 225.46
ML666 10266117190 10/10/96 74.3 12.500 184.88
ML666 10266118008 09/15/96 80.0 10.500 354.92
ML666 10266118079 09/17/96 84.2 12.700 1,132.22
ML666 10266118241 09/24/96 58.6 11.500 426.57
ML666 10266118340 09/08/96 90.0 10.750 1,302.21
ML666 10266118381 09/26/96 84.9 12.990 271.89
ML666 10266118478 09/26/96 80.0 13.990 249.08
ML666 10266118625 09/17/96 90.0 10.750 456.85
ML666 10266118664 09/24/96 84.8 12.500 514.45
ML666 10266118823 09/17/96 48.5 12.200 327.53
ML666 10266118916 09/05/96 79.9 12.200 597.75
ML666 10266118978 09/14/96 80.0 10.700 944.60
ML666 10266119034 09/09/96 73.0 9.990 1,345.94
ML666 10266119041 09/12/96 86.7 11.000 615.20
ML666 10266119072 09/26/96 89.6 11.650 235.55
ML666 10266119083 10/26/96 84.2 9.990 698.10
ML666 10266119153 09/11/96 80.0 10.500 980.60
ML666 10266119184 08/26/96 70.0 10.000 368.58
ML666 10266119208 09/03/96 82.8 9.990 375.90
ML666 10266119218 09/16/96 70.0 12.750 650.39
ML666 10266119227 09/26/96 80.9 12.850 575.54
ML666 10266119265 09/19/96 65.5 11.200 350.50
ML666 10266119284 09/01/96 84.4 13.200 703.14
ML666 10266119288 09/26/96 84.8 13.550 1,310.26
ML666 10266119316 09/07/96 76.7 11.500 1,124.97
ML666 10266119330 09/09/96 80.0 12.500 537.90
ML666 10266119331 09/17/96 79.3 9.500 1,398.20
ML666 10266119334 10/25/96 66.6 10.500 823.27
ML666 10266119346 09/10/96 81.7 12.000 360.05
ML666 10266119372 09/24/96 89.8 11.990 510.58
ML666 10266119376 09/18/96 65.0 11.350 190.88
ML666 10266119426 09/08/96 69.8 10.500 1,353.81
ML666 10266119430 09/01/96 90.0 12.600 465.49
ML666 10266119513 09/25/96 75.0 12.490 759.87
ML666 10266119605 09/17/96 70.0 11.990 338.16
ML666 10266119616 09/01/96 36.0 10.990 675.90
ML666 10266119660 09/09/96 68.8 12.250 880.23
ML666 10266119839 09/19/96 84.9 9.990 696.27
ML666 10266119987 08/27/96 89.9 11.650 378.56
ML666 10266120058 09/11/96 90.0 10.750 709.91
ML666 10266120298 08/24/96 69.3 11.750 524.89
ML666 10266120310 09/10/96 90.0 10.650 1,583.41
</TABLE>
<PAGE>
Alliance Funding Company Page 14 9/16/96
A division of Superior Bank FSB
Sale Schedule
1996-3 Class 1 - Initial Pool of Fixed Rate Mortgages - Settlement 9/23/96
<TABLE>
<CAPTION>
Zip
Sale ID Account Name Address City State Code
- -----------------------------------------------------------------------------------------------------------------------------
<C> <C> <S> <C> <C> <C> <C>
ML666 10266120454 ALTON CAROL M 17405 58TH AVENUE WEST LYNNWOOD WA 98037
ML666 10266120456 DONNELLY JAMES G 640 STATE ROAD COOPERSBURG PA 18036
ML666 10266120495 ALVARADO NORIS 87-52 143RD STREET JAMAICA NY 11435
ML666 10266120648 KHALIL KALID 505 NORTH WASHINGTON WESTMONT IL 60559
ML666 10266120777 SCHEFFLER DOUGLAS C 720 WEST THIRD STREET APPLETON WI 54914
ML666 10266120825 HARRIS ELVITA 905 SUPERIOR AVE. DAYTON OH 45407
ML666 10266120881 ESPOSITO GEORGE N 700 SOUTH EAST 25TH LANE HOMESTEAD FL 33033
ML666 10266120889 DASCOLI FRANK 6334 WESTPORT DRIVE PORT RICHEY FL 34668
ML666 10266120908 OTT MICHAEL J 807 CHEW STREET ALLENTOWN PA 18102
ML666 10266120909 OTT MICHAEL J 413 NORTH SIXTH STREET ALLENTOWN PA 18102
ML666 10266120915 ZELANO ROBERT J 86 CROSS KEY ROAD BERNVILLE PA 19506
ML666 10266121038 COLUMBO JOSEPH 2461 STATLER AVE SPRING HILL FL 34609
ML666 10266121060 SCHUMANN CRAIG H 724 EAST 3230 NORTH PROVO UT 84604
ML666 10266121144 BAXTER CHARLES GREGORY 3511 JACONA DRIVE JACKSONVILLE FL 32277
ML666 10266121296 BLOOM SOL 559 KEARNEY AVENUE CLIFFSIDE PARK NJ 07010
ML666 10266121404 BROWN GERALD L 3408 CUMBERLAND ROAD TOBYHANNA PA 18466
ML666 10266121458 RODRIGUEZ ANA C 105 RUDEN STREET WEST HAVEN CT 06516
ML666 10266121510 TOWNER LAWRENCE A II 1645 LONGLEAF TRAIL CUMMING GA 30130
ML666 10266121619 HESKETH DONALD J 9365 ANN HARBOR DRIVE GAINESVILLE GA 30506
ML666 10266121633 MURRAY HORACE 43 PAERDEGAT 5TH STREET BROOKLYN NY 11230
ML666 10266121686 WEBB ELIZABETH ANN 14921 EVANSTON DETROIT MI 48205
ML666 10266121758 HOWARD WILLIAM J 21 WOODLAND ROAD EAST HARTFORD CT 06108
ML666 10266121768 COHEN JOYCE 3567 BEDFORD AVENUE BROOKLYN NY 11210
ML666 10266121927 RICE JAMES 31 KASSUL PLACE SOMERSET NJ 08873
ML666 10266121994 VASQUEZ RAFAEL G 55 57 MAY STREET HARTFORD CT 06105
ML666 10266122017 DALEY JAMES 439 S 2ND STREET LYKENS PA 17048
ML666 10266122022 GRIER JOHN D 1983 QUEENS WAY CHAMBLEE GA 30341
ML666 10266122026 SEGARRA EDGAR 105 NIGHTINGALE ROAD BLAIRSTOWN NJ 07825
ML666 10266122075 HADDOCK DENNIS 66-45 73RD PLACE MIDDLE VILLAGE NY 11379
ML666 10266122097 HALL DONSFORD H 107 DIX STREET WEST HAVEN CT 06516
ML666 10266122104 HAWKES KENNETH B 248 EAST 975 SOUTH LAYTON UT 84041
ML666 10266122110 ROGERS NADINE 542 EAST 1910 SOUTH OREM UT 84058
ML666 10266122173 GARCIA ROBERT MICHAEL 810 LA CASA DE PRASA DRIVE SE RIO RANCHO NM 87124
ML666 10266122186 WALSH DARLENE 77 MONTGOMERY AVENUE MASTIC NY 11950
ML666 10266122195 STOCCO ROBBYN A 145 CIRCLE DRIVE PALMER LAKE CO 80133
ML666 10266122293 MANN MICHAEL 6120 JEFFERSON STREET HOLLYWOOD FL 33023
ML666 10266122300 SOMMER RANDALL C 3670 NW 104TH AVENUE CORAL SPRINGS FL 33065
ML666 10266122309 SADDLER W MCNEIL 492 OLIVER STREET N.W. ATLANTA GA 30314
ML666 10266122344 MOLITERNO JOHN 27 TYLER STREET FREEPORT NY 11520
ML666 10266122361 MILNE MARK B 9695 NORTH 5750 WEST HIGHLAND UT 84003
ML666 10266122370 PROCTOR CLINT B 549 EAST 1650 SOUTH SPRINGVILLE UT 84663
ML666 10266122406 VALSECHI RALPH 28 HACKBERRY LANE HOLBROOK NY 11741
ML666 10266122410 CZARNECKI JOHN A 1318-1320 CRANE STREET SCHENECTADY NY 12303
ML666 10266122504 RODRIGUEZ JOHNNY 396 WEBSTER AVENUE JERSEY CITY NJ 07307
ML666 10266122620 NORRISH ROBERT E 2890 SW ANGELINE AVENUE GRESHAM OR 97080
ML666 10266122625 MADARANG LUSIA V 11356 SW SUMMERLAKE DRIVE TIGARD OR 97223
ML666 10266122628 ROOT DONALD G 9556 WEST NICHOLS PLACE LITTLETON CO 80123
ML666 10266122646 JIMMERSON LORRAINE 1940 HILLS DRIVE SEDONA AZ 86336
ML666 10266122736 POWELL STEVEN J 4640 - 4660 EVERETT STREET WHEATRIDGE CO 80033
ML666 10266122772 MILLER SCOTT L 15610 NE BLUE GRASS DRIVE VANCOUVER WA 98684
ML666 10266122800 FARMER GEORGE C 808 7TH STREET NORTH SAINT PETERSBURG FL 33701
ML666 10266122823 JOHNSON JOEL 49 SHONNARD AVENUE FREEPORT NY 11520
ML666 10266122867 TOMASEVICH DIANE S 570 KINGS HIGHWAY E. GREENWICH TWP. NJ 08056
ML666 10266122910 RHODES WILLIAM E 7719 AVONDALE TERRACE HARRISBURG PA 17112
ML666 10266122911 WILSON ALBERT 7226 RYAN STREET FAYETTEVILLE NC 28314
ML666 10266122921 CARLSON RONALD GENE 6980 NEWPORT STREET COMMERCE CITY CO 80022
ML666 10266122943 ZUREK GLORIA 104 WEST DRIVE NORTH MASSAPEQUA NY 11758
ML666 10266123032 OGDEN RAYMOND B 19133 HEMPSTONE AVENUE POOLESVILLE MD 20837
ML666 10266123035 KEYES KENDALL 31 GULFVIEW COURT MILFORD CT 06460
ML666 10266123046 WOOLFORD LISA C 201 NORTH CAROLINE AVENUE PASADENA MD 21122
ML666 10266123104 GRAHAM CHARLES E 3028 177TH PLACE SOUTHWEST LYNNWOOD WA 98037
ML666 10266123133 SOMMERVILLE THOMAS J 1221 ERIK COURT ALTAMONTE SPRINGS FL 32714
<CAPTION>
Principal Cut-off Date First
Balance at Principal Payment Maturity Rem
Sale ID Account Origination Balance Date Date Term
- ---------------------------------------------------------------------------------------------------------------------
<C> <C> <S> <C> <C> <C> <C>
ML666 10266120454 25,000.00 24,997.84 08/22/96 07/22/11 178.65
ML666 10266120456 78,900.00 78,900.00 08/09/96 07/09/11 178.22
ML666 10266120495 175,500.00 175,500.00 08/10/96 07/10/26 358.26
ML666 10266120648 119,000.00 119,000.00 08/10/96 07/10/26 358.26
ML666 10266120777 33,600.00 33,342.53 07/18/96 06/18/11 177.53
ML666 10266120825 52,000.00 51,943.28 08/08/96 07/08/11 178.19
ML666 10266120881 61,000.00 60,977.96 08/23/96 07/23/11 178.68
ML666 10266120889 16,000.00 16,000.00 08/26/96 07/26/06 118.78
ML666 10266120908 51,000.00 51,000.00 08/12/96 07/12/11 178.32
ML666 10266120909 37,200.00 37,200.00 08/12/96 07/12/11 178.32
ML666 10266120915 56,550.00 56,550.00 08/15/96 07/15/11 178.42
ML666 10266121038 67,200.00 67,176.13 08/23/96 07/23/11 178.68
ML666 10266121060 87,400.00 87,400.00 09/01/96 08/01/11 179.00
ML666 10266121144 18,000.00 17,980.26 09/01/96 08/01/11 179.00
ML666 10266121296 127,500.00 127,500.00 09/01/96 08/01/26 359.00
ML666 10266121404 128,600.00 128,419.70 08/10/96 07/10/11 178.26
ML666 10266121458 79,200.00 79,200.00 08/25/96 07/25/26 358.75
ML666 10266121510 59,500.00 59,275.48 08/01/96 07/01/11 178.00
ML666 10266121619 135,000.00 135,000.00 08/01/96 07/01/11 178.00
ML666 10266121633 220,500.00 220,432.58 07/27/96 06/27/26 357.83
ML666 10266121686 21,900.00 21,900.00 07/24/96 06/24/26 357.73
ML666 10266121758 64,000.00 64,000.00 08/17/96 07/17/16 238.49
ML666 10266121768 75,000.00 75,000.00 09/01/96 08/01/11 179.00
ML666 10266121927 134,215.00 134,215.00 08/16/96 07/16/11 178.45
ML666 10266121994 131,750.00 131,681.35 08/23/96 07/23/26 358.68
ML666 10266122017 28,050.00 28,050.00 08/24/96 07/24/11 178.72
ML666 10266122022 50,200.00 50,200.00 08/02/96 07/02/11 177.99
ML666 10266122026 178,500.00 178,391.63 08/18/96 07/18/11 178.52
ML666 10266122075 33,000.00 33,000.00 09/01/96 08/01/11 179.00
ML666 10266122097 81,000.00 81,000.00 08/12/96 07/12/26 358.32
ML666 10266122104 20,690.00 20,690.00 08/08/96 07/08/11 178.19
ML666 10266122110 15,100.00 15,044.35 08/15/96 07/15/11 178.42
ML666 10266122173 17,350.00 17,350.00 08/08/96 07/08/11 178.19
ML666 10266122186 72,000.00 72,000.00 08/10/96 07/10/11 178.26
ML666 10266122195 29,314.00 29,279.97 08/26/96 07/26/11 178.78
ML666 10266122293 11,700.00 11,696.96 07/10/96 06/10/11 177.27
ML666 10266122300 24,200.00 24,097.15 08/15/96 07/15/11 178.42
ML666 10266122309 36,750.00 36,750.00 08/26/96 07/26/11 178.78
ML666 10266122344 136,000.00 136,000.00 07/28/96 06/28/11 177.86
ML666 10266122361 172,000.00 171,757.77 08/11/96 07/11/11 178.29
ML666 10266122370 13,000.00 12,975.76 08/03/96 07/03/11 178.03
ML666 10266122406 53,000.00 52,836.47 08/17/96 07/17/11 178.49
ML666 10266122410 22,595.00 22,545.19 08/16/96 07/16/11 178.45
ML666 10266122504 76,500.00 76,452.09 06/22/96 05/22/26 356.65
ML666 10266122620 22,500.00 22,450.40 08/01/96 07/01/11 178.00
ML666 10266122625 60,520.00 60,474.03 08/22/96 07/22/11 178.65
ML666 10266122628 24,200.00 24,200.00 08/26/96 07/26/11 178.78
ML666 10266122646 64,614.00 64,614.00 08/10/96 07/10/16 238.26
ML666 10266122736 114,000.00 114,000.00 08/23/96 07/23/26 358.68
ML666 10266122772 141,950.00 141,950.00 08/16/96 07/16/11 178.45
ML666 10266122800 53,500.00 53,500.00 08/19/96 07/19/26 358.55
ML666 10266122823 55,000.00 54,950.38 08/22/96 07/22/16 238.65
ML666 10266122867 116,000.00 116,000.00 08/10/96 07/10/11 178.26
ML666 10266122910 25,500.00 25,493.05 08/19/96 07/19/11 178.55
ML666 10266122911 33,100.00 32,931.76 08/23/96 07/23/06 118.68
ML666 10266122921 39,730.00 39,553.63 08/24/96 07/24/11 178.72
ML666 10266122943 70,000.00 69,890.79 08/23/96 07/23/16 238.68
ML666 10266123032 35,655.00 35,655.00 09/01/96 08/01/11 179.00
ML666 10266123035 26,000.00 25,876.12 08/22/96 07/22/06 118.65
ML666 10266123046 25,350.00 25,346.32 08/24/96 07/24/16 238.72
ML666 10266123104 17,200.00 17,200.00 08/09/96 07/09/11 178.22
ML666 10266123133 116,000.00 116,000.00 08/05/96 07/05/26 358.09
<CAPTION>
Original Current Scheduled
Date LTV Mortgage Payment
Sale ID Account Due Ratio Rate Int & Prin
- ---------------------------------------------------------------------------------------------
ML666 10266120454 09/22/96 82.9 12.200 261.01
ML666 10266120456 09/09/96 87.8 12.200 823.74
ML666 10266120495 09/10/96 90.0 10.900 1,658.08
ML666 10266120648 09/10/96 83.2 12.200 1,242.40
ML666 10266120777 09/18/96 84.7 12.700 418.51
ML666 10266120825 09/08/96 83.8 10.900 491.28
ML666 10266120881 09/23/96 51.9 9.350 506.26
ML666 10266120889 08/26/96 77.8 11.200 222.22
ML666 10266120908 08/12/96 60.0 11.700 512.85
ML666 10266120909 08/12/96 60.0 11.700 374.08
ML666 10266120915 09/15/96 65.0 10.950 536.40
ML666 10266121038 09/23/96 80.0 12.450 826.07
ML666 10266121060 09/01/96 89.9 11.650 875.53
ML666 10266121144 10/01/96 74.8 13.750 236.70
ML666 10266121296 09/01/96 85.0 11.500 1,262.62
ML666 10266121404 09/10/96 84.9 9.650 1,095.44
ML666 10266121458 09/25/96 90.0 10.900 748.26
ML666 10266121510 10/01/96 84.9 13.500 681.52
ML666 10266121619 09/01/96 56.2 13.250 1,519.79
ML666 10266121633 09/27/96 90.0 11.700 2,217.30
ML666 10266121686 08/24/96 53.2 12.490 233.56
ML666 10266121758 09/17/96 89.8 11.400 678.11
ML666 10266121768 10/01/96 69.7 11.850 762.81
ML666 10266121927 09/16/96 85.0 12.000 1,380.55
ML666 10266121994 09/23/96 85.0 10.450 1,200.25
ML666 10266122017 09/24/96 85.0 11.750 283.14
ML666 10266122022 09/02/96 80.2 12.000 516.36
ML666 10266122026 09/18/96 72.8 10.750 2,000.89
ML666 10266122075 09/01/96 89.1 12.000 396.06
ML666 10266122097 09/12/96 90.0 11.500 802.14
ML666 10266122104 09/08/96 79.9 15.590 271.40
ML666 10266122110 09/15/96 87.5 12.900 165.86
ML666 10266122173 09/08/96 84.9 12.990 191.79
ML666 10266122186 09/10/96 80.0 10.250 645.19
ML666 10266122195 09/26/96 86.6 12.000 351.82
ML666 10266122293 09/10/96 85.0 11.250 113.64
ML666 10266122300 09/15/96 84.0 12.750 302.22
ML666 10266122309 09/26/96 70.0 9.750 315.74
ML666 10266122344 08/28/96 85.0 12.600 1,685.09
ML666 10266122361 09/11/96 78.1 11.950 1,762.60
ML666 10266122370 10/03/96 89.3 12.900 142.79
ML666 10266122406 09/17/96 89.9 11.250 514.77
ML666 10266122410 09/16/96 89.9 11.650 266.11
ML666 10266122504 09/22/96 90.0 11.400 751.74
ML666 10266122620 09/01/96 89.9 11.650 264.99
ML666 10266122625 09/22/96 84.9 11.750 610.89
ML666 10266122628 08/26/96 84.9 12.500 298.27
ML666 10266122646 09/10/96 34.9 10.990 666.50
ML666 10266122736 09/23/96 79.7 13.750 1,328.23
ML666 10266122772 09/16/96 85.0 13.450 1,620.33
ML666 10266122800 09/19/96 60.1 10.250 479.41
ML666 10266122823 09/22/96 45.8 11.500 586.54
ML666 10266122867 09/10/96 80.0 13.490 1,327.77
ML666 10266122910 09/19/96 83.4 12.750 318.45
ML666 10266122911 09/23/96 71.7 9.700 431.94
ML666 10266122921 09/24/96 80.0 11.490 463.87
ML666 10266122943 09/23/96 32.5 9.250 641.11
ML666 10266123032 09/01/96 90.0 12.000 427.92
ML666 10266123035 09/22/96 82.2 10.900 356.68
ML666 10266123046 09/24/96 80.0 11.490 270.17
ML666 10266123104 08/09/96 90.0 11.500 200.93
ML666 10266123133 09/05/96 79.4 11.750 1,170.92
</TABLE>
<PAGE>
Alliance Funding Company Page 15 9/16/96
A division of Superior Bank FSB
Sale Schedule
1996-3 Class 1 - Initial Pool of Fixed Rate Mortgages - Settlement 9/23/96
<TABLE>
<CAPTION>
Zip
Sale ID Account Name Address City State Code
- -----------------------------------------------------------------------------------------------------------------------------
<C> <C> <S> <C> <C> <C> <C>
ML666 10266123153 WIELAND IOLA M 2302 MCGREGOR COURT VIENNA VA 22182
ML666 10266123208 KANG TEA UK 750 REECEVILLE ROAD COATESVILLE PA 19320
ML666 10266123212 TUCHOL MARY ANN 6475 2ND AVENUE N ST PETERSBURG FL 33710
ML666 10266123225 KLATT PAUL D 1245 EMERSON STREET DENVER CO 80218
ML666 10266123226 EARLY ROLAND 915 HIGHLAND AVENUE DUNEDIN FL 34698
ML666 10266123294 TUCHOL MARYANN FREY 2884 OAKLAWN AVENUE LARGO FL 34641
ML666 10266123338 RICHARDS JOHN A 1380 MURPHY LANE NW ALBANY OR 97321
ML666 10266123374 SEEPERSAUD GEEWAN 91-03 76TH STREET WOODHAVEN NY 11421
ML666 10266123383 PAVONE RALPH JR 123 N FULTON STREET WILKES-BARRE PA 18702
ML666 10266123412 BRUCE DOUGLAS P 1739 ASCOT ROAD COLORADO SPRINGS CO 80906
ML666 10266123461 MCGUIRE KRISTINA M 56 MEAD LANE WESTBURY NY 11590
ML666 10266123464 PESEK CAROL L 14 SEIFERT AVENUE MILLER PLACE NY 11764
ML666 10266123520 MARTINEZ BARBARA T 4731 KEITH CIRCLE COLORADO SPRINGS CO 80916
ML666 10266123576 SHIPPEE HAROLD E JR 39 MILL SPRING LANE STAMFORD CT 06903
ML666 10266123617 WEHNES KAREN J 6731 FREDRICK DR COLORADO SPRINGS CO 80918
ML666 10266123631 MORAGLIA-SMITH PATRICIA 105 WEST GOLDEN AVENUE CRIPPLE CREEK CO 80813
ML666 10266123635 SUTTON SHERI H 1111 NORTH 22ND STREET JACKSONVILLE BEACH FL 32250
ML666 10266123652 GREEN COLLEEN 3821 BARBARA WAY SALT LAKE CITY UT 84124
ML666 10266123682 DESMOND RAYMOND B JR 66 NORTON DRIVE EAST NORTHPORT NY 11731
ML666 10266123690 BENCI ZLATKO 3 FLORGATE ROAD FARMINGDALE NY 11735
ML666 10266123760 PAVAO DAVID DEAN 1447 EAST SUNNYSIDE STREET HIGHLANDS RANCH CO 80126
ML666 10266123930 MACHESIC LEONARD F RR1 BOX 743 PAXINOS PA 17860
ML666 10266123935 BUSH RONALD J 394 GRAPE STREET WARMINSTER PA 18974
ML666 10266123950 GOODMAN CHESTER W 6263 WEST 70TH AVENUE ARVADA CO 80003
ML666 10266123974 LOMBARDO ANTONINO 1420 BELLEVUE LANE SOUDERTON PA 18964
ML666 10266124015 CROWLEY-DINICOLA NANCY L 327 CONCORD ROAD GLEN MILLS PA 19342
ML666 10266124074 BLACK CURTIS 1052 EAST 825 NORTH LAYTON UT 84040
ML666 10266124169 MEW PATRICIA 590 NORMANDY ROAD MADEIRA BEACH FL 33708
ML666 10266124222 CIALELLA DARLENE 525 PINE STREET NEPTUNE BEACH FL 32266
ML666 10266124228 HELINGER MICHAEL A 13179 72ND AVENUE N SEMINOLE FL 34646
ML666 10266124329 EWING PAUL R 106 JUDSON ROAD LA PORTE IN 46350
ML666 10266124364 OKO JERRY 1 GALLEINE AVENUE COMMACK NY 11725
ML666 10266124371 DIGIOSE JOHN 2158 WALTOFFER AVENUE N. BELLMORE NY 11710
ML666 10266124418 MARTIN RICHARD P 923 1ST AVE NW LARGO FL 34640
ML666 10266124508 CROWELL DAVID P 12825 ANGEL OAK DRIVE HUNTERSVILLE NC 28078
ML666 10266124510 BAUCOM AMY J 2527 JUNIPER DRIVE CHARLOTTE NC 28269
ML666 10266124512 MURPHY THOMAS J 2247 WEST GENESSEE ROAD BALDWINSVILLE NY 13027
ML666 10266124546 KEPNER GARY 944 VALLEY VIEW CIRCLE PALM HARBOR FL 34684
ML666 10266124548 ANDERSON BETTY JO 11725 TIMBERLANE COURT COLORADO SPRINGS CO 80908
ML666 10266124586 GARDING JAMES P 9545 SW BUCKSKIN TERRACE BEAVERTON OR 97008
ML666 10266124598 AMATO JOYCE 396 WOODBURY ROAD WOODBURY NY 11797
ML666 10266124628 CRANDALL BRET A 775 WEST 1600 NORTH MAPLETON UT 84664
ML666 10266124756 BETTA JAMES 744 BAY 7TH STREET WEST ISLIP NY 11795
ML666 10266124786 COLLINS ROLAND J 4157 HIGHLAND LOOP NEW PORT RICHEY FL 34652
ML666 10266124788 SANCHEZ GUSTAVO J 7241 AUBURN LANE NEW PORT RICHEY FL 34654
ML666 10266124794 REMICH ROBERT ALLEN 4003 COLONIAL DRIVE LILBURN GA 30247
ML666 10266124866 PRUITT WILLIAM C 1715 MILL HILL ROAD WATKINS GLEN NY 14891
ML666 10266124889 ZEGER ERIC G 2415 NORTH JERUSALEM ROAD EAST MEADOW NY 11554
ML666 10266124958 AARON WEBSTER 154 WOODRUFF AVENUE BROOKLYN NY 11226
ML666 10266124959 MONATH FREDERICK B 67 PINE TRAIL DELTA PA 17314
ML666 10266124966 DAULERIO MICHAEL F 1213 FOREST HILL DRIVE GWYNEDD VALLEY PA 19437
ML666 10266124971 MAZZIE BERTHA P 137 MAUCH CHUNK STREET NAZARETH PA 18064
ML666 10266125034 MOORE DAN O 3858 ORCHARD AVENUE SOUTH OGDEN UT 84403
ML666 10266125041 BAGLEY STEVE K 7924 SOUTH PONDEROSA CIRCLE SANDY UT 84094
ML666 10266125056 STASSINOPOULOS EVANGELIA 1987 MADRID COURT S CLEARWATER FL 34623
ML666 10266125170 SPENCE CAROLYN 2325 BRYANT AVENUE BALTIMORE MD 21217
ML666 10266125276 LEONARD MATTHEW 991 NORTH CIRCLE DRIVE DOVER PA 17315
ML666 10266125297 SCHMIDT ROBERT L 1 HIGH POINT DRIVE GLEN RIDDLE PA 19037
ML666 10266125348 LYTLE FREDERICK 918 NORTH 66TH STREET PHILADELPHIA PA 19151
ML666 10266125439 HANIFFY IRIS M 6012 PITNER DRIVE HOLIDAY FL 34690
ML666 10266125459 CAJKAS ERNE 2191 SW 27TH LANE FORT LAUDERDALE FL 33312
ML666 10266125483 DAGOSTINO RICHARD 53 GRACE DRIVE OLD BRIDGE NJ 08857
<CAPTION>
Principal Cut-off Date First
Balance at Principal Payment Maturity Rem
Sale ID Account Origination Balance Date Date Term
- ---------------------------------------------------------------------------------------------------------------------
<C> <C> <S> <C> <C> <C> <C>
ML666 10266123153 45,000.00 45,000.00 08/03/96 07/03/11 178.03
ML666 10266123208 12,900.00 12,900.00 09/01/96 08/01/11 179.00
ML666 10266123212 29,000.00 28,935.12 09/01/96 08/01/11 179.00
ML666 10266123225 72,600.00 72,600.00 08/26/96 07/26/11 178.78
ML666 10266123226 58,100.00 58,100.00 08/11/96 07/11/11 178.29
ML666 10266123294 52,500.00 52,264.43 09/01/96 08/01/11 179.00
ML666 10266123338 47,125.00 47,088.69 08/22/96 07/22/11 178.65
ML666 10266123374 41,250.00 41,250.00 08/19/96 07/19/11 178.55
ML666 10266123383 50,000.00 49,972.50 09/01/96 08/01/16 239.00
ML666 10266123412 24,417.00 24,417.00 09/01/96 08/01/16 239.00
ML666 10266123461 41,400.00 41,350.88 08/23/96 07/23/16 238.68
ML666 10266123464 70,000.00 69,819.15 08/24/96 07/24/11 178.72
ML666 10266123520 23,600.00 23,600.00 08/23/96 07/23/16 238.68
ML666 10266123576 31,500.00 31,500.00 08/22/96 07/22/11 178.65
ML666 10266123617 31,000.00 30,969.70 08/24/96 07/24/11 178.72
ML666 10266123631 25,900.00 25,900.00 09/01/96 08/01/11 179.00
ML666 10266123635 10,700.00 10,672.36 08/23/96 07/23/06 118.68
ML666 10266123652 110,000.00 109,880.64 08/19/96 07/19/11 178.55
ML666 10266123682 45,000.00 44,886.00 08/23/96 07/23/11 178.68
ML666 10266123690 45,000.00 44,793.85 08/24/96 07/24/11 178.72
ML666 10266123760 26,280.00 26,280.00 09/01/96 08/01/11 179.00
ML666 10266123930 41,700.00 41,585.08 09/01/96 08/01/11 179.00
ML666 10266123935 33,000.00 32,942.76 09/01/96 08/01/11 179.00
ML666 10266123950 30,500.00 30,500.00 08/22/96 07/22/16 238.65
ML666 10266123974 184,232.00 183,805.51 08/16/96 07/16/11 178.45
ML666 10266124015 16,000.00 16,000.00 09/01/96 08/01/11 179.00
ML666 10266124074 47,000.00 47,000.00 09/01/96 08/01/11 179.00
ML666 10266124169 30,000.00 30,000.00 08/23/96 07/23/16 238.68
ML666 10266124222 10,000.00 10,000.00 09/01/96 08/01/11 179.00
ML666 10266124228 168,000.00 168,000.00 08/24/96 07/24/26 358.72
ML666 10266124329 54,700.00 54,688.01 08/25/96 07/25/16 238.75
ML666 10266124364 36,000.00 36,000.00 09/01/96 08/01/11 179.00
ML666 10266124371 69,721.00 69,707.67 08/22/96 07/22/11 178.65
ML666 10266124418 17,650.00 17,628.01 09/01/96 08/01/11 179.00
ML666 10266124508 10,700.00 10,700.00 09/01/96 08/01/06 119.00
ML666 10266124510 13,000.00 13,000.00 09/01/96 08/01/06 119.00
ML666 10266124512 40,600.00 40,565.90 08/24/96 07/24/11 178.72
ML666 10266124546 114,400.00 114,342.29 08/15/96 07/15/26 358.42
ML666 10266124548 46,500.00 46,500.00 09/01/96 08/01/11 179.00
ML666 10266124586 29,431.00 29,431.00 08/26/96 07/26/11 178.78
ML666 10266124598 100,000.00 100,000.00 08/24/96 07/24/11 178.72
ML666 10266124628 51,800.00 51,800.00 08/22/96 07/22/11 178.65
ML666 10266124756 225,000.00 225,000.00 08/19/96 07/19/26 358.55
ML666 10266124786 49,950.00 49,950.00 08/26/96 07/26/26 358.78
ML666 10266124788 32,000.00 31,866.74 08/26/96 07/26/11 178.78
ML666 10266124794 100,000.00 100,000.00 08/16/96 07/16/11 178.45
ML666 10266124866 50,000.00 49,900.78 08/19/96 07/19/16 238.55
ML666 10266124889 45,000.00 45,000.00 09/01/96 08/01/16 239.00
ML666 10266124958 180,000.00 180,000.00 09/01/96 08/01/11 179.00
ML666 10266124959 21,500.00 21,439.74 09/01/96 08/01/11 179.00
ML666 10266124966 222,500.00 222,500.00 08/26/96 07/26/11 178.78
ML666 10266124971 63,000.00 63,000.00 09/01/96 08/01/11 179.00
ML666 10266125034 29,400.00 29,397.84 08/10/96 07/10/11 178.26
ML666 10266125041 36,931.00 36,801.42 08/10/96 07/10/11 178.26
ML666 10266125056 14,500.00 14,500.00 09/01/96 08/01/11 179.00
ML666 10266125170 54,200.00 54,200.00 09/01/96 08/01/11 179.00
ML666 10266125276 56,000.00 55,009.17 09/01/96 08/01/11 179.00
ML666 10266125297 23,158.00 23,158.00 08/24/96 07/24/11 178.72
ML666 10266125348 51,300.00 51,300.00 08/22/96 07/22/11 178.65
ML666 10266125439 10,800.00 10,769.04 08/26/96 07/26/11 178.78
ML666 10266125459 35,000.00 34,927.17 07/14/96 06/14/11 177.40
ML666 10266125483 153,000.00 153,000.00 09/01/96 08/01/11 179.00
<CAPTION>
Original Current Scheduled
Date LTV Mortgage Payment
Sale ID Account Due Ratio Rate Int & Prin
- ---------------------------------------------------------------------------------------------
ML666 10266123153 09/03/96 79.7 12.450 478.52
ML666 10266123208 09/01/96 78.7 11.250 148.65
ML666 10266123212 10/01/96 88.8 11.500 287.18
ML666 10266123225 08/26/96 76.2 13.750 845.87
ML666 10266123226 09/11/96 68.3 10.990 552.86
ML666 10266123294 10/01/96 70.0 9.750 451.06
ML666 10266123338 09/22/96 89.9 11.500 466.67
ML666 10266123374 08/19/96 70.9 11.350 477.95
ML666 10266123383 10/01/96 80.0 10.250 490.82
ML666 10266123412 09/01/96 79.7 13.750 299.21
ML666 10266123461 09/23/96 89.8 11.700 447.22
ML666 10266123464 09/24/96 57.3 9.750 741.55
ML666 10266123520 09/23/96 79.9 13.250 280.71
ML666 10266123576 09/22/96 61.9 12.450 387.22
ML666 10266123617 09/24/96 85.2 11.500 362.14
ML666 10266123631 09/01/96 79.9 13.500 336.26
ML666 10266123635 09/23/96 83.8 12.750 158.19
ML666 10266123652 09/19/96 40.7 10.990 1,046.72
ML666 10266123682 09/23/96 79.8 9.990 483.30
ML666 10266123690 09/24/96 84.3 11.450 524.26
ML666 10266123760 09/01/96 89.9 12.000 315.40
ML666 10266123930 10/01/96 85.0 10.250 454.51
ML666 10266123935 10/01/96 54.0 10.990 374.87
ML666 10266123950 09/22/96 79.7 13.250 362.78
ML666 10266123974 09/16/96 80.0 9.750 1,582.84
ML666 10266124015 09/01/96 29.0 10.990 181.76
ML666 10266124074 09/01/96 65.2 12.750 510.75
ML666 10266124169 08/23/96 49.0 11.750 325.11
ML666 10266124222 09/01/96 74.3 13.150 127.51
ML666 10266124228 09/24/96 80.0 10.990 1,598.63
ML666 10266124329 09/25/96 82.0 11.750 592.79
ML666 10266124364 09/01/96 84.9 12.200 375.85
ML666 10266124371 09/22/96 85.0 12.990 881.68
ML666 10266124418 10/01/96 89.9 11.700 208.44
ML666 10266124508 09/01/96 90.0 12.000 153.51
ML666 10266124510 09/01/96 89.6 11.990 186.44
ML666 10266124512 09/24/96 89.7 11.950 485.96
ML666 10266124546 09/15/96 80.0 10.700 1,063.61
ML666 10266124548 09/01/96 36.7 11.490 542.91
ML666 10266124586 08/26/96 90.0 12.000 302.73
ML666 10266124598 09/24/96 60.6 11.240 970.50
ML666 10266124628 09/22/96 90.0 11.500 512.97
ML666 10266124756 08/19/96 90.0 11.200 2,176.80
ML666 10266124786 08/26/96 83.2 11.550 496.56
ML666 10266124788 09/26/96 80.8 10.250 348.78
ML666 10266124794 09/16/96 51.0 12.990 1,105.42
ML666 10266124866 09/19/96 61.7 9.950 480.86
ML666 10266124889 09/01/96 71.0 11.550 481.44
ML666 10266124958 09/01/96 80.0 10.300 1,619.68
ML666 10266124959 10/01/96 89.2 12.000 258.04
ML666 10266124966 09/26/96 74.7 11.490 2,201.70
ML666 10266124971 09/01/96 70.0 10.990 599.49
ML666 10266125034 09/10/96 83.8 12.350 359.50
ML666 10266125041 09/10/96 87.5 12.600 457.59
ML666 10266125056 09/01/96 79.9 13.250 185.85
ML666 10266125170 09/01/96 78.5 9.950 473.64
ML666 10266125276 11/01/96 52.8 11.750 565.27
ML666 10266125297 08/24/96 85.0 12.250 281.67
ML666 10266125348 09/22/96 90.0 11.500 508.02
ML666 10266125439 09/26/96 89.9 11.500 126.16
ML666 10266125459 09/14/96 79.5 11.590 410.87
ML666 10266125483 09/01/96 85.0 10.990 1,455.90
</TABLE>
<PAGE>
Alliance Funding Company Page 16 9/16/96
A division of Superior Bank FSB
Sale Schedule
1996-3 Class 1 - Initial Pool of Fixed Rate Mortgages - Settlement 9/23/96
<TABLE>
<CAPTION>
Zip
Sale ID Account Name Address City State Code
- -----------------------------------------------------------------------------------------------------------------------------
<C> <C> <S> <C> <C> <C> <C>
ML666 10266125491 TALBOT RONALD J 6864 SOUTH KIESTA COURT WEST JORDAN UT 84084
ML666 10266125493 CAMPBELL KEVIN W 2658 WEST NORTH PLAIN CITY RD FARR WEST UT 84404
ML666 10266125917 MILLER TITUS W 1310 PELHAM ROAD HARRISBURG PA 17110
ML666 10266125919 MILLER TITUS W 820 E MAIN STREET HEGINS PA 17938
ML666 10266126017 LEMOINE JODIE S 6501 WEST 3940 SOUTH WEST VALLEY CITY UT 84120
ML666 10266126018 TAPIA ABRAHAM VEGA 2085 EAST GREENWICH CIRCLE SANDY UT 84093
ML666 10266126121 PHILLIP CYNTHIA 2418 CLARKSON STREET DENVER CO 80205
ML666 10266126182 GAZE JOSEF R 4736 WEST 34TH AVENUE DENVER CO 80212
ML666 10266126375 GARNEAU GARY 1740 EAST 112TH PLACE NORTHGLENN CO 80233
ML666 10266126441 BROWN SARA LYNN 1166 NW 67TH STREET MIAMI FL 33150
ML666 10266126443 BEIERLE DENNIS A 101 NORTH 49TH AVENUE GREELEY CO 80634
-------------------------------------------
197 Sale Total
<CAPTION>
Principal Cut-off Date First
Balance at Principal Payment Maturity Rem
Sale ID Account Origination Balance Date Date Term
- ---------------------------------------------------------------------------------------------------------------------
<C> <C> <S> <C> <C> <C> <C>
ML666 10266125491 49,000.00 49,000.00 08/16/96 07/16/11 178.45
ML666 10266125493 34,547.00 34,547.00 08/15/96 07/15/11 178.42
ML666 10266125917 63,875.00 63,875.00 08/26/96 07/26/11 178.78
ML666 10266125919 68,000.00 68,000.00 08/26/96 07/26/16 238.78
ML666 10266126017 29,690.00 29,647.21 08/17/96 07/17/16 238.49
ML666 10266126018 56,000.00 55,995.31 08/17/96 07/17/11 178.49
ML666 10266126121 16,500.00 16,454.83 08/26/96 07/26/11 178.78
ML666 10266126182 45,000.00 44,927.72 09/01/96 08/01/11 179.00
ML666 10266126375 92,700.00 92,700.00 09/01/96 08/01/26 359.00
ML666 10266126441 35,750.00 35,745.82 07/12/96 06/12/11 177.34
ML666 10266126443 16,500.00 16,500.00 09/01/96 08/01/11 179.00
--------------------------------------------------------- -------------
197 12,098,947.00 12,085,413.19 227.26
<CAPTION>
Original Current Scheduled
Date LTV Mortgage Payment
Sale ID Account Due Ratio Rate Int & Prin
- ---------------------------------------------------------------------------------------------
ML666 10266125491 09/16/96 87.3 12.200 594.40
ML666 10266125493 08/15/96 79.9 15.350 491.82
ML666 10266125917 08/26/96 70.0 10.500 706.07
ML666 10266125919 08/26/96 80.0 10.500 678.90
ML666 10266126017 09/17/96 88.9 12.450 336.27
ML666 10266126018 09/17/96 79.0 11.350 648.86
ML666 10266126121 09/26/96 69.2 12.500 203.37
ML666 10266126182 10/01/96 68.4 11.490 525.40
ML666 10266126375 09/01/96 90.0 11.750 935.72
ML666 10266126441 09/12/96 65.0 15.900 477.87
ML666 10266126443 09/01/96 80.4 11.000 187.54
------------------ -------------------------------------------
197 77.4 11.505 126,261.64
</TABLE>
<PAGE>
Alliance Funding Company Page 17 9/16/96
A division of Superior Bank FSB
Sale Schedule
1996-3 Class 1 - Initial Pool of Fixed Rate Mortgages - Settlement 9/23/96
<TABLE>
<CAPTION>
Zip
Sale ID Account Name Address City State Code
- -----------------------------------------------------------------------------------------------------------------------------
<C> <C> <S> <C> <C> <C> <C>
ML667 10266112387 LASTELLA VINCENT 16 WAYSIDE LANE NUTLEY NJ 07110
ML667 10266113141 WARRIOR MICHAEL 147 EAST 124TH ST CHICAGO IL 60628
ML667 10266113585 FISCHER EDWARD M 46 CLEVELAND AVENUE FREDONIA NY 14063
ML667 10266113594 HURLEY HAROLD L 14200 N LAGO DEL ORO PARKWAY TUCSON AZ 85737
ML667 10266113935 GEARY DANNY RAY 393 WEST 2400 SOUTH CLEARFIELD UT 84015
ML667 10266113965 MARINO PATRICIA R 244 BALTUSROL DRIVE NAPLES FL 33962
ML667 10266114329 NEBLETT VERNELL 90 STEVENS AVENUE ROOSEVELT NY 11575
ML667 10266114457 GIGUERE PAUL V 5108 NATHALEE DRIVE CONCORD CA 94521
ML667 10266114520 DANGELO BERNARD 31 COLONY ROAD PORT JEFFERSON STATI NY 11776
ML667 10266114627 CIACCIO ROBERT 12 LINCOLN AVENUE COMMACK NY 11725
ML667 10266115233 CASTILLO JOSE 107 N 8TH ST YAKIMA WA 98901
ML667 10266115357 GILLIAN JAY A 142 ROOSEVELT BOULEVARD OCEAN CITY NJ 08226
ML667 10266115496 SMITH CHARLESETTA 331 FILMORE STREET GARY IN 46404
ML667 10266115569 BURNS MICHAEL L 13605 SOUTHWEST GARRETT COURT TIGARD OR 97223
ML667 10266115648 HERBERT GWENDOLYN T 347 FLORIDA STREET BUFFALO NY 14208
ML667 10266115853 EDWARDS MARCUS L 22 ORCHARD STREET VERNON CT 06066
ML667 10266115882 GLOCKNER KENNETH 209 60TH STREET WEST NEW YORK NJ 07093
ML667 10266117803 ARWOOD TERRY 111 JULIANNE DR MANHATTAN IL 60442
ML667 10266117902 CANTERBURY RUSSELL A 6550 WALDON CLARKSTON MI 48346
ML667 10266118092 KANHAI KAMINI 41-60 75TH STREET ELMHURST NY 11373
ML667 10266118110 DEMARZO GARY 503 W BURK AVE WILDWOOD NJ 08260
ML667 10266118230 BOOTH DENISE M 3651 S PRUDENCE ROAD TUCSON AZ 85730
ML667 10266118456 ALLEN JACK D 2801 C ROAD GRAND JUNCTION CO 81503
ML667 10266118556 MORRIS ELIZABETH 12 BRYSON AVENUE STATEN ISLAND NY 10302
ML667 10266118642 SCHUMACHER PAUL E III 257 WAKELEE AVENUE ANSONIA CT 06401
ML667 10266118713 MCARDLE PAUL F JR 7562 EAST WINDROSE DRIVE SCOTTSDALE AZ 85260
ML667 10266119048 GRAYL ALLAN 6179 8TH AVENUE NORTH SAINT PETERSBURG FL 33710
ML667 10266119086 EPPERSON JAMES R 3532 W FALLING STAR LANE TUCSON AZ 85741
ML667 10266119121 LACEY THOMAS F 15 OLD STAGECOACH ROAD GAYLORDSVILLE CT 06755
ML667 10266119176 HILDEBRAND MARK J 8412 EAST "E" STREET TACOMA WA 98445
ML667 10266119337 HALL RUDOLPH A 138-140 ADAMS STREET HARTFORD CT 06112
ML667 10266119370 EWING ALLEN 1726 VERBEKE STREET HARRISBURG PA 17103
ML667 10266119393 MASSARI JAMES C 274A MOFFAT ROAD COLD SPRING NY 10516
ML667 10266119400 FULLER MARC 11125 AYER ROAD COLORADO SPRINGS CO 80908
ML667 10266119471 KHAN KHALID Y 2847 SPITZ STREET LAS CRUCES NM 88005
ML667 10266119624 KELLY PAUL RHEAD 1596 EAST GENTILE STREET LAYTON UT 84040
ML667 10266119697 WILLIAMSON CURTIS TODD 2894 MEADOW VIEW AVENUE LARGO FL 34641
ML667 10266119854 CENTRACCHIO GENNARINA 643 MARINE DRIVE WAUCONDA IL 60084
ML667 10266119929 PHAGOO DEONARAINE 54 JEFFERSON AVENUE JERSEY CITY NJ 07306
ML667 10266119989 PIAZZA JOHN J 338 TALL MEADOW LANE YARDLEY PA 19067
ML667 10266120163 BRANNICK DONALD 11 PEG LEG WAY OCEAN TOWNSHIP NJ 08758
ML667 10266120203 DARMER STEPHEN R 22016 N 89TH AVENUE PEORIA AZ 85382
ML667 10266120232 BAKER WILLIAM RAY 257 WEST 500 NORTH SALT LAKE CITY UT 84103
ML667 10266120267 WILLIS VICTORIA 10233 S. CALUMET AVE. CHICAGO IL 60628
ML667 10266120304 SUARINO SALVATORE 83 WEST AVENUE WEST SAYVILLE NY 11796
ML667 10266120346 SCAPPATORE RICHARD 5 JAMIE STREET RIDGE NY 11961
ML667 10266120368 ABDUR-RAHMAN HASSAN 553 E ROCKWOOD DRIVE PHOENIX AZ 85027
ML667 10266120533 BRATSCH GARY L 533 E DEEPDALE ROAD PHOENIX AZ 85022
ML667 10266120538 SILCOCK JAMES B 17 GREENFERN CIRCLE ORMOND BEACH FL 32174
ML667 10266120550 WOOD WILLIAM W 934 SE SHERRETT STREET PORTLAND OR 97202
ML667 10266120571 STOWELL DWIGHT K 32 WARREN STREET HUDSON NY 12534
ML667 10266120576 DUGAN DAVID L 3623 GAP ROAD GOLDEN CO 80403
ML667 10266120726 CASSELL JOHN E JR 12215 JACOBS ROAD HEBRON IL 60034
ML667 10266120740 HUGHES FRANCES 40 EAST 150TH STREET HARVEY IL 60426
ML667 10266120887 HIMMELREICH ROBERT W 143 WANNER ROAD READING PA 19606
ML667 10266120924 KENNEDY RICHARD J 630 SOUTH BERGEN STREET BETHLEHEM PA 18015
ML667 10266121007 DUNKIN DOROTHY SUE 1070 MONTE VISTA DRIVE BOSQUE FARMS NM 87068
ML667 10266121073 MCCANN MICHAEL P 12821 49TH DRIVE SOUTHEAST EVERETT WA 98208
ML667 10266121077 HEMPT MARGERY L 515 HARDING STREET NEW CUMBERLAND PA 17070
ML667 10266121082 SPITZER LISA A 23 TREMONT COURT NEWARK DE 19711
ML667 10266121143 SMITH NICHOLAS M 3905 GAY ROAD EAST TACOMA WA 98443
ML667 10266121199 WILLNER STEVEN 81 GAINSBOROUGH ROAD HOLBROOK NY 11741
<CAPTION>
Principal Cut-off Date First
Balance at Principal Payment Maturity Rem
Sale ID Account Origination Balance Date Date Term
- ---------------------------------------------------------------------------------------------------------------------
<C> <C> <S> <C> <C> <C> <C>
ML667 10266112387 91,000.00 90,765.09 08/15/96 07/15/11 178.42
ML667 10266113141 66,400.00 66,374.68 08/17/96 07/17/26 358.49
ML667 10266113585 60,000.00 60,000.00 08/24/96 07/24/26 358.72
ML667 10266113594 120,500.00 120,238.74 07/25/96 06/25/26 357.76
ML667 10266113935 21,600.00 21,600.00 08/08/96 07/08/11 178.19
ML667 10266113965 46,000.00 46,000.00 09/06/96 08/06/26 359.15
ML667 10266114329 116,000.00 116,000.00 08/08/96 07/08/11 178.19
ML667 10266114457 25,400.00 25,394.25 08/12/96 07/12/11 178.32
ML667 10266114520 115,488.00 115,468.44 08/19/96 07/19/11 178.55
ML667 10266114627 19,200.00 19,136.43 08/23/96 07/23/11 178.68
ML667 10266115233 60,000.00 60,000.00 08/10/96 07/10/11 178.26
ML667 10266115357 88,000.00 88,000.00 08/03/96 07/03/11 178.03
ML667 10266115496 29,400.00 29,375.40 08/22/96 07/22/16 238.65
ML667 10266115569 25,300.00 25,300.00 08/19/96 07/19/11 178.55
ML667 10266115648 53,100.00 53,041.96 08/18/96 07/18/26 358.52
ML667 10266115853 126,000.00 126,000.00 08/03/96 07/03/26 358.03
ML667 10266115882 50,000.00 50,000.00 09/01/96 08/01/11 179.00
ML667 10266117803 32,000.00 31,874.73 07/05/96 06/05/16 237.11
ML667 10266117902 63,000.00 62,910.61 08/24/96 07/24/11 178.72
ML667 10266118092 228,000.00 228,000.00 09/01/96 08/01/11 179.00
ML667 10266118110 55,250.00 55,250.00 07/26/96 06/26/11 177.80
ML667 10266118230 16,500.00 16,500.00 07/24/96 06/24/11 177.73
ML667 10266118456 19,000.00 18,971.49 08/26/96 07/26/11 178.78
ML667 10266118556 55,000.00 55,000.00 09/02/96 08/02/16 239.01
ML667 10266118642 110,500.00 110,500.00 07/20/96 06/20/11 177.60
ML667 10266118713 29,600.00 29,600.00 08/19/96 07/19/11 178.55
ML667 10266119048 67,500.00 67,485.62 09/01/96 08/01/11 179.00
ML667 10266119086 12,500.00 12,500.00 08/17/96 07/17/11 178.49
ML667 10266119121 182,700.00 182,700.00 09/01/96 08/01/11 179.00
ML667 10266119176 19,650.00 19,650.00 09/01/96 08/01/11 179.00
ML667 10266119337 119,700.00 119,262.99 07/19/96 06/19/26 357.57
ML667 10266119370 27,500.00 27,439.62 09/01/96 08/01/11 179.00
ML667 10266119393 52,500.00 52,500.00 08/19/96 07/19/11 178.55
ML667 10266119400 102,700.00 102,700.00 09/01/96 08/01/11 179.00
ML667 10266119471 179,000.00 178,859.40 08/11/96 07/11/26 358.29
ML667 10266119624 82,000.00 81,847.86 08/10/96 07/10/11 178.26
ML667 10266119697 46,750.00 46,750.00 09/05/96 08/05/26 359.11
ML667 10266119854 15,000.00 15,000.00 08/12/96 09/12/11 180.32
ML667 10266119929 80,000.00 80,000.00 09/01/96 08/01/26 359.00
ML667 10266119989 15,000.00 15,000.00 08/15/96 07/15/06 118.42
ML667 10266120163 88,000.00 88,000.00 08/22/96 07/22/11 178.65
ML667 10266120203 28,000.00 28,000.00 08/15/96 07/15/11 178.42
ML667 10266120232 50,700.00 50,700.00 07/25/96 06/25/11 177.76
ML667 10266120267 35,000.00 35,000.00 09/01/96 08/01/11 179.00
ML667 10266120304 178,500.00 178,500.00 08/22/96 07/22/11 178.65
ML667 10266120346 156,000.00 156,000.00 09/05/96 08/05/11 179.11
ML667 10266120368 17,250.00 17,240.78 08/15/96 07/15/11 178.42
ML667 10266120533 16,500.00 16,500.00 08/15/96 07/15/11 178.42
ML667 10266120538 10,200.00 10,200.00 09/01/96 08/01/11 179.00
ML667 10266120550 26,000.00 25,988.96 08/22/96 07/22/11 178.65
ML667 10266120571 126,000.00 125,762.02 07/28/96 06/28/16 237.86
ML667 10266120576 256,500.00 256,500.00 09/01/96 08/01/26 359.00
ML667 10266120726 112,500.00 112,500.00 08/23/96 07/23/26 358.68
ML667 10266120740 20,000.00 20,000.00 08/26/96 07/26/16 238.78
ML667 10266120887 144,300.00 144,300.00 08/09/96 07/09/26 358.22
ML667 10266120924 62,400.00 62,400.00 09/01/96 08/01/11 179.00
ML667 10266121007 140,000.00 140,000.00 08/15/96 07/15/11 178.42
ML667 10266121073 46,300.00 46,211.78 09/01/96 08/01/11 179.00
ML667 10266121077 87,300.00 87,300.00 09/01/96 08/01/11 179.00
ML667 10266121082 25,000.00 24,765.21 07/25/96 06/25/06 117.76
ML667 10266121143 93,500.00 93,500.00 09/01/96 08/01/26 359.00
ML667 10266121199 27,000.00 27,000.00 09/07/96 08/07/11 179.18
<CAPTION>
Original Current Scheduled
Date LTV Mortgage Payment
Sale ID Account Due Ratio Rate Int & Prin
- ---------------------------------------------------------------------------------------------
ML667 10266112387 09/15/96 65.0 13.990 1,211.27
ML667 10266113141 09/17/96 80.0 13.000 734.52
ML667 10266113585 09/24/96 75.9 11.000 571.39
ML667 10266113594 09/25/96 84.8 12.200 1,258.06
ML667 10266113935 09/08/96 78.0 11.000 205.70
ML667 10266113965 09/06/96 79.3 12.750 499.88
ML667 10266114329 09/08/96 80.0 10.700 1,078.48
ML667 10266114457 09/12/96 89.5 12.900 319.70
ML667 10266114520 09/19/96 90.0 11.150 1,112.93
ML667 10266114627 09/23/96 76.8 10.350 210.45
ML667 10266115233 09/10/96 80.0 11.500 594.18
ML667 10266115357 09/03/96 79.8 11.100 844.70
ML667 10266115496 09/22/96 70.0 10.250 288.60
ML667 10266115569 09/19/96 79.9 14.550 310.82
ML667 10266115648 09/18/96 90.0 10.750 495.68
ML667 10266115853 09/03/96 90.0 11.900 1,286.36
ML667 10266115882 09/01/96 36.2 12.790 544.90
ML667 10266117803 09/05/96 74.7 12.490 363.34
ML667 10266117902 09/24/96 65.2 12.250 660.17
ML667 10266118092 09/01/96 80.0 9.500 1,917.15
ML667 10266118110 08/26/96 77.8 12.200 576.83
ML667 10266118230 08/24/96 86.8 11.650 194.33
ML667 10266118456 09/26/96 70.2 10.750 212.98
ML667 10266118556 09/02/96 26.1 10.600 552.81
ML667 10266118642 09/20/96 85.0 10.650 1,023.20
ML667 10266118713 08/19/96 79.7 13.000 327.44
ML667 10266119048 10/01/96 75.0 10.700 627.56
ML667 10266119086 09/17/96 79.8 13.990 166.38
ML667 10266119121 10/01/96 90.0 10.500 1,671.23
ML667 10266119176 09/01/96 89.8 12.150 237.73
ML667 10266119337 09/19/96 90.0 10.750 1,117.38
ML667 10266119370 10/01/96 35.1 13.990 366.04
ML667 10266119393 09/19/96 80.0 13.900 695.64
ML667 10266119400 09/01/96 64.9 11.450 1,013.11
ML667 10266119471 09/11/96 74.9 10.950 1,697.90
ML667 10266119624 09/10/96 84.6 13.700 952.16
ML667 10266119697 09/05/96 85.0 11.750 471.90
ML667 10266119854 08/12/96 73.5 12.490 184.09
ML667 10266119929 09/01/96 69.5 12.400 847.60
ML667 10266119989 08/15/96 89.6 12.600 220.44
ML667 10266120163 08/22/96 80.0 12.450 935.77
ML667 10266120203 08/15/96 85.9 12.600 346.93
ML667 10266120232 08/25/96 65.0 10.950 480.91
ML667 10266120267 09/01/96 41.1 9.740 370.56
ML667 10266120304 09/22/96 85.0 11.500 1,767.67
ML667 10266120346 09/05/96 80.0 9.500 1,311.73
ML667 10266120368 09/15/96 76.3 11.000 196.06
ML667 10266120533 09/15/96 77.7 11.200 189.62
ML667 10266120538 09/01/96 79.3 13.990 135.77
ML667 10266120550 09/22/96 79.9 12.250 316.24
ML667 10266120571 09/28/96 84.0 9.750 1,195.13
ML667 10266120576 09/01/96 86.9 10.650 2,375.12
ML667 10266120726 09/23/96 90.0 10.750 1,050.17
ML667 10266120740 09/26/96 37.1 11.990 220.08
ML667 10266120887 09/09/96 84.8 11.990 1,483.18
ML667 10266120924 09/01/96 80.0 11.990 641.37
ML667 10266121007 09/15/96 80.0 9.900 1,218.27
ML667 10266121073 10/01/96 85.0 12.250 485.18
ML667 10266121077 09/01/96 84.9 10.990 830.72
ML667 10266121082 09/25/96 85.0 11.990 358.53
ML667 10266121143 09/01/96 79.9 10.400 848.30
ML667 10266121199 09/07/96 89.7 11.650 317.99
</TABLE>
<PAGE>
Alliance Funding Company Page 18 9/16/96
A division of Superior Bank FSB
Sale Schedule
1996-3 Class 1 - Initial Pool of Fixed Rate Mortgages - Settlement 9/23/96
<TABLE>
<CAPTION>
Zip
Sale ID Account Name Address City State Code
- -----------------------------------------------------------------------------------------------------------------------------
<C> <C> <S> <C> <C> <C> <C>
ML667 10266121323 SAHEID MOHAMED 103 15 115TH STREET RICHMOND HILL NY 11419
ML667 10266121334 YABLONSKI BENJAMIN 186 SOUTH COUNTRY ROAD REMSENBURG NY 11960
ML667 10266121395 SANTIAGO DONALD 324 EAST PLEASANT GROVE ROAD JACKSON NJ 08527
ML667 10266121573 ANDERSON PATRICK 3554 SE DAREN DR HILLSBORO OR 97123
ML667 10266121605 DAYTON JERRY L 8244 W QUARTO AVE LITTLETON CO 80123
ML667 10266121664 SAKOSKE PAUL D 11289 STAFFORD ROAD CHAGRIN FALLS OH 44023
ML667 10266121796 SANTAMARIA CARLO P 1776 SOUTH 290 EAST OREM UT 84058
ML667 10266121853 HONEYCUTT JUNE B 10995 SPRUCE MOUNTAIN ROAD LARKSPUR CO 80118
ML667 10266121920 FYKSEN STEVE G 2885 JAMAICA STREET SARASOTA FL 34231
ML667 10266121946 ROMERO JOSE 242 AUTUMN AVENUE BROOKLYN NY 11208
ML667 10266121964 WEST DAVID L 13602 SOUTH 1300 EAST DRAPER UT 84020
ML667 10266122006 BRADLEY RANDY 4909 WEST RED LODGE CIRCLE SALT LAKE CITY UT 84118
ML667 10266122021 MADISON LISA KAY 409 W 32ND STREET VANCOUVER WA 98660
ML667 10266122036 BOYD CHARLIE L 168-05 110TH AVENUE JAMAICA NY 11433
ML667 10266122117 KELLY FLORENCE T 2019 MCKINLEY STREET PHILADELPHIA PA 19149
ML667 10266122149 RANEW DEBORAH E 2735 FOXFIRE COURT, BLDG 19 # CLEARWATER FL 34621
ML667 10266122224 WIGGINS LORADELE 7327 S TALMAN CHICAGO IL 60629
ML667 10266122374 HERRERA SHIRLEY 274 COUNTRY CLUB DRIVE STANSBURY PARK UT 84074
ML667 10266122439 BALK JILL A 74 WOOLSEY STREET HUNTINGTON NY 11743
ML667 10266122462 BICKFORD LISA M 4605 216TH ST CT E SPANAWAY WA 98387
ML667 10266122612 ISAACS ROBERT C III 681 BAYARD ROAD LOTHIAN MD 20711
ML667 10266122616 KETTERLING DEAN E 4092 EAST 118TH AVENUE DENVER CO 80233
ML667 10266122641 TODD JAMES W 5402 EAST CALLE DEL MEDIO PHOENIX AZ 85018
ML667 10266122643 BROWN LINDA M 1990 SOUTH DEXTER STREET DENVER CO 80222
ML667 10266122648 LUKOWIAK ROBERT F 16147 EAST BALSAM DRIVE FOUNTAIN HILLS AZ 85268
ML667 10266122707 STODDARD LARRY JR 34 GARDEN STREET EAST FARMINGDALE NY 11735
ML667 10266122716 ADAMS HERMAN 538 JOHNSONTOWN ROAD PASADENA MD 21122
ML667 10266122766 DESIMONE ROY A 3098 WEST MARTINEZ WAY RIVERTON UT 84065
ML667 10266122832 BODDY CRAIG D 8550 SOUTH CHAPPEL CHICAGO IL 60617
ML667 10266122874 INGRAM VINCENT 3745 N JONES BLVD LAS VEGAS NV 89108
ML667 10266122887 GREENING DORIAN E 126 41ST COURT WASHOUGAL WA 98671
ML667 10266122908 RAY ALBERT C 6 ECHO VALLEY DRIVE NEW PROVIDENCE PA 17560
ML667 10266123016 HANSEN JOEL A 37 PISCITELLO DRIVE BRANFORD CT 06405
ML667 10266123095 FRAINA PETER 2157 LEGION STREET BELLMORE NY 11710
ML667 10266123096 REESE DANIEL A 117 S FLORENCE AVENUE LITCHFIELD PARK AZ 85340
ML667 10266123145 FERGUSON DAVID 498 FORBES STREET EAST HARTFORD CT 06118
ML667 10266123195 MADDOX SHARON L 716 EAST KEYSVILLE ROAD PLANT CITY FL 33567
ML667 10266123211 HANISEE WILLIAM B 6374 2ND AVE SO SAINT PETERSBURG FL 33707
ML667 10266123241 SOWIRKA ADAM 86 HEDGES AVENUE EAST PATCHOGUE NY 11772
ML667 10266123259 DECICCO VICTOR L 925 LAGUNA HONDA BLVD SAN FRANCISCO CA 94127
ML667 10266123290 SABALJA PHILIP 56 ROSE WAY BRIDGEHAMPTON NY 11932
ML667 10266123410 DAVIDSON BRIAN MICHAEL 5507 SOUTH WESTSIDE CIRCLE SALT LAKE CITY UT 84118
ML667 10266123416 FORD THOMAS F 14563 EAST 11TH AVENUE AURORA CO 80011
ML667 10266123423 TAUBLIEB CHARLIE 6122 SOUTH BOSTON CIRCLE ENGLEWOOD CO 80111
ML667 10266123448 MORALES ROSALINDA 2715 ADAMS AVENUE OGDEN UT 84401
ML667 10266123462 GARDELLA RICHARD E JR 5916 SONOMA ROAD BETHESDA MD 20817
ML667 10266123470 ARGES JAMES M 2309 WEST CLUB BLVD DURHAM NC 27705
ML667 10266123507 BARNES E LEE 5000 MARTIN LUTHER KING BLVD DENVER CO 80207
ML667 10266123516 BEAN ARTRY WAYNE 3020 HOLLY STREET DENVER CO 80207
ML667 10266123528 WERNER WILLIAM 71 EUGENE PLACE BELLEVILLE NJ 07109
ML667 10266123626 FIGLIOLA PETER 12 GRAYS FARM ROAD WESTPORT CT 06883
ML667 10266123628 SCOTT KATHLEEN 337 HAWTHORNE AVENUE POINT PLEASANT BEACH NJ 08742
ML667 10266123656 KING JAMES M 444 EAST HEARNE WAY GILBERT AZ 85234
ML667 10266123667 BAKER DONALD L 115 CHESTERFIELD DRIVE NEW CASTLE DE 19720
ML667 10266123791 WILLIAMS JACK STERLING JR 6504 WEST LEAWOOD DRIVE LITTLETON CO 80123
ML667 10266123891 WAGNER FAYE A 39311 RICHLAND LIVONIA MI 48150
ML667 10266123926 HAHLBOHM CHRISTINE 49 WEST WHITE STREET BRENTWOOD NY 11717
ML667 10266123976 BALL ANDREW S 9415 OAKMONT ROAD NE ALBUQUERQUE NM 87111
ML667 10266124045 BENN IVAN 218-44 132ND AVENUE LAURELTON NY 11413
ML667 10266124070 CHANDLER TIMOTHY A 28 ROBINS LANE BERWYN PA 19312
ML667 10266124076 WHORTON JERRY 3188 SOUTH HALIFAX STREET AURORA CO 80013
ML667 10266124191 HAMMON JAMES M 1 AUTUMN DRIVE ENFIELD CT 06082
<CAPTION>
Principal Cut-off Date First
Balance at Principal Payment Maturity Rem
Sale ID Account Origination Balance Date Date Term
- ---------------------------------------------------------------------------------------------------------------------
<C> <C> <S> <C> <C> <C> <C>
ML667 10266121323 205,650.00 205,489.65 08/23/96 07/23/11 178.68
ML667 10266121334 160,000.00 159,766.58 08/03/96 07/03/11 178.03
ML667 10266121395 238,000.00 238,000.00 09/01/96 08/01/11 179.00
ML667 10266121573 23,500.00 23,500.00 08/22/96 07/22/11 178.65
ML667 10266121605 23,100.00 23,100.00 08/24/96 07/24/11 178.72
ML667 10266121664 55,000.00 55,000.00 09/02/96 08/02/16 239.01
ML667 10266121796 51,800.00 51,629.54 08/16/96 07/16/11 178.45
ML667 10266121853 105,000.00 104,977.97 09/01/96 08/01/11 179.00
ML667 10266121920 73,100.00 73,100.00 08/23/96 07/23/26 358.68
ML667 10266121946 153,000.00 153,000.00 09/02/96 08/02/26 359.01
ML667 10266121964 46,000.00 46,000.00 08/22/96 07/22/11 178.65
ML667 10266122006 42,758.00 42,666.33 09/01/96 08/01/11 179.00
ML667 10266122021 19,334.00 19,314.94 08/11/96 07/11/11 178.29
ML667 10266122036 140,250.00 140,250.00 07/26/96 06/26/11 177.80
ML667 10266122117 56,000.00 56,000.00 09/05/96 08/05/16 239.11
ML667 10266122149 55,000.00 55,000.00 08/26/96 07/26/11 178.78
ML667 10266122224 49,500.00 48,928.65 08/22/96 07/22/16 238.65
ML667 10266122374 40,000.00 39,941.68 08/12/96 07/12/11 178.32
ML667 10266122439 30,000.00 30,000.00 09/01/96 08/01/11 179.00
ML667 10266122462 21,400.00 21,400.00 08/22/96 07/22/11 178.65
ML667 10266122612 32,000.00 32,000.00 09/02/96 08/02/11 179.01
ML667 10266122616 102,000.00 102,000.00 09/01/96 08/01/26 359.00
ML667 10266122641 99,000.00 99,000.00 08/10/96 07/10/11 178.26
ML667 10266122643 22,400.00 22,400.00 09/01/96 08/01/11 179.00
ML667 10266122648 27,000.00 26,990.86 08/16/96 07/16/11 178.45
ML667 10266122707 91,200.00 91,128.22 08/24/96 07/24/11 178.72
ML667 10266122716 20,400.00 20,400.00 08/26/96 07/26/26 358.78
ML667 10266122766 21,000.00 20,980.47 08/17/96 07/17/11 178.49
ML667 10266122832 20,000.00 19,952.25 08/22/96 09/22/11 180.65
ML667 10266122874 37,000.00 37,000.00 08/05/96 07/05/11 178.09
ML667 10266122887 14,700.00 14,600.90 08/09/96 07/09/11 178.22
ML667 10266122908 74,000.00 74,000.00 09/05/96 08/05/26 359.11
ML667 10266123016 21,500.00 21,500.00 09/01/96 08/01/11 179.00
ML667 10266123095 220,000.00 220,000.00 08/24/96 07/24/26 358.72
ML667 10266123096 81,600.00 81,511.61 08/11/96 07/11/26 358.29
ML667 10266123145 103,590.00 103,590.00 08/19/96 07/19/26 358.55
ML667 10266123195 38,500.00 38,304.74 09/01/96 08/01/11 179.00
ML667 10266123211 58,000.00 58,000.00 09/01/96 08/01/26 359.00
ML667 10266123241 39,000.00 39,000.00 09/05/96 08/05/11 179.11
ML667 10266123259 93,800.00 93,800.00 08/16/96 07/16/11 178.45
ML667 10266123290 100,000.00 100,000.00 09/05/96 08/05/11 179.11
ML667 10266123410 28,100.00 28,100.00 09/01/96 08/01/11 179.00
ML667 10266123416 16,560.00 16,560.00 09/05/96 08/05/11 179.11
ML667 10266123423 79,000.00 79,000.00 09/01/96 08/01/11 179.00
ML667 10266123448 30,513.00 30,513.00 08/16/96 07/16/11 178.45
ML667 10266123462 22,600.00 22,600.00 09/05/96 08/05/11 179.11
ML667 10266123470 18,000.00 18,000.00 09/01/96 08/01/11 179.00
ML667 10266123507 37,250.00 37,247.16 09/01/96 08/01/11 179.00
ML667 10266123516 91,800.00 91,800.00 09/02/96 08/02/11 179.01
ML667 10266123528 90,000.00 90,000.00 09/01/96 08/01/16 239.00
ML667 10266123626 70,000.00 70,000.00 08/23/96 07/23/11 178.68
ML667 10266123628 10,000.00 9,999.30 08/12/96 07/12/11 178.32
ML667 10266123656 43,200.00 43,200.00 08/25/96 07/25/11 178.75
ML667 10266123667 64,000.00 64,000.00 09/02/96 08/02/11 179.01
ML667 10266123791 15,955.00 15,955.00 09/05/96 08/05/11 179.11
ML667 10266123891 70,000.00 69,929.80 09/01/96 08/01/16 239.00
ML667 10266123926 112,500.00 112,500.00 09/01/96 08/01/11 179.00
ML667 10266123976 242,250.00 242,250.00 08/16/96 07/16/11 178.45
ML667 10266124045 141,950.00 141,950.00 09/01/96 08/01/11 179.00
ML667 10266124070 16,500.00 16,500.00 09/05/96 08/05/11 179.11
ML667 10266124076 23,250.00 23,250.00 09/05/96 08/05/11 179.11
ML667 10266124191 28,400.00 28,400.00 09/01/96 08/01/11 179.00
<CAPTION>
Original Current Scheduled
Date LTV Mortgage Payment
Sale ID Account Due Ratio Rate Int & Prin
- ---------------------------------------------------------------------------------------------
ML667 10266121323 09/23/96 90.0 11.100 1,974.01
ML667 10266121334 10/03/96 52.1 13.350 1,813.79
ML667 10266121395 09/01/96 78.8 9.650 2,027.33
ML667 10266121573 09/22/96 79.8 12.450 288.88
ML667 10266121605 08/24/96 89.9 11.250 266.19
ML667 10266121664 09/02/96 33.8 10.500 549.11
ML667 10266121796 09/16/96 86.3 12.350 546.82
ML667 10266121853 10/01/96 67.7 10.700 976.21
ML667 10266121920 08/23/96 73.1 12.350 771.67
ML667 10266121946 09/02/96 90.0 11.500 1,515.15
ML667 10266121964 09/22/96 84.5 11.800 546.17
ML667 10266122006 10/01/96 87.7 12.000 513.17
ML667 10266122021 09/11/96 85.0 12.700 240.82
ML667 10266122036 09/26/96 85.0 10.750 1,309.21
ML667 10266122117 09/05/96 74.6 11.700 604.94
ML667 10266122149 09/26/96 69.6 10.500 503.11
ML667 10266122224 10/22/96 75.0 11.990 544.69
ML667 10266122374 09/12/96 79.3 13.200 448.74
ML667 10266122439 09/01/96 57.3 11.490 350.27
ML667 10266122462 08/22/96 84.8 13.700 280.69
ML667 10266122612 09/02/96 84.6 10.750 358.70
ML667 10266122616 09/01/96 85.0 11.750 1,029.60
ML667 10266122641 08/10/96 86.1 12.000 1,018.33
ML667 10266122643 09/01/96 84.9 12.990 283.27
ML667 10266122648 09/16/96 77.2 10.700 301.81
ML667 10266122707 09/24/96 80.0 10.990 867.83
ML667 10266122716 08/26/96 80.8 14.250 245.76
ML667 10266122766 09/17/96 81.0 11.650 247.33
ML667 10266122832 09/22/96 75.4 10.490 219.95
ML667 10266122874 09/05/96 87.1 11.250 426.37
ML667 10266122887 10/09/96 85.0 13.700 192.81
ML667 10266122908 09/05/96 65.4 12.750 804.15
ML667 10266123016 09/01/96 89.9 12.500 264.99
ML667 10266123095 09/24/96 73.3 10.750 2,053.66
ML667 10266123096 09/11/96 82.0 12.000 839.35
ML667 10266123145 09/19/96 86.3 11.950 1,061.55
ML667 10266123195 10/01/96 68.7 9.650 405.52
ML667 10266123211 09/01/96 76.3 11.000 552.35
ML667 10266123241 09/05/96 75.2 11.490 455.35
ML667 10266123259 09/16/96 84.9 13.800 1,096.58
ML667 10266123290 09/05/96 10.7 10.990 951.57
ML667 10266123410 09/01/96 89.9 12.900 353.69
ML667 10266123416 09/05/96 89.8 12.000 198.75
ML667 10266123423 09/01/96 84.9 12.990 999.02
ML667 10266123448 08/16/96 74.9 11.950 312.69
ML667 10266123462 09/05/96 80.0 13.750 263.32
ML667 10266123470 09/01/96 84.0 12.700 224.20
ML667 10266123507 10/01/96 82.5 12.250 390.34
ML667 10266123516 09/02/96 85.0 11.250 891.62
ML667 10266123528 09/01/96 83.3 10.990 928.36
ML667 10266123626 08/23/96 84.7 11.650 824.42
ML667 10266123628 09/12/96 52.2 13.450 129.50
ML667 10266123656 08/25/96 90.0 12.000 444.36
ML667 10266123667 09/02/96 80.0 10.750 717.41
ML667 10266123791 09/05/96 78.0 14.250 215.17
ML667 10266123891 10/01/96 59.3 10.850 715.40
ML667 10266123926 09/01/96 90.0 11.200 1,088.40
ML667 10266123976 09/16/96 85.0 10.250 2,170.81
ML667 10266124045 09/01/96 85.0 9.950 1,240.47
ML667 10266124070 09/05/96 85.0 12.990 208.66
ML667 10266124076 09/05/96 75.0 14.000 309.63
ML667 10266124191 09/01/96 89.5 12.450 349.11
</TABLE>
<PAGE>
Alliance Funding Company Page 19 9/16/96
A division of Superior Bank FSB
Sale Schedule
1996-3 Class 1 - Initial Pool of Fixed Rate Mortgages - Settlement 9/23/96
<TABLE>
<CAPTION>
Zip
Sale ID Account Name Address City State Code
- -----------------------------------------------------------------------------------------------------------------------------
<C> <C> <S> <C> <C> <C> <C>
ML667 10266124216 SATTA NORBERT A 7942 E MALVERN PLACE TUCSON AZ 85710
ML667 10266124231 BERGEN BRUCE J 3543 EAST FIELDSTONE CIRCLE SALT LAKE CITY UT 84121
ML667 10266124243 COOPER PERRY L 1400 HALLAM AVENUE COLORADO SPRINGS CO 80911
ML667 10266124284 SMITH SR JOHN 5530 W. MOORESVILLE INDIANAPOLIS IN 46221
ML667 10266124339 BERGDORF MARIETTA 273 SOUTH 1550 EAST BOUNTIFUL UT 84010
ML667 10266124354 GRIFFITHS THOMAS A 4118 NW GLENEAGLES PLACE PORTLAND OR 97229
ML667 10266124372 JOHNSTUN ROBERT A 4138 WEST CHELTONHAM WAY WEST JORDAN UT 84084
ML667 10266124395 TAGUE JAMES L 5740 N HIGHLAND PARK DRIVE HERNANDO FL 34442
ML667 10266124403 BUSICO JAMES D 305 SOUTH 1ST WEST TOOELE UT 84074
ML667 10266124414 SORRENTINO CHARLES L 17481 POSTON AVENUE PT CHARLOTTE FL 33948
ML667 10266124551 ANDROCKITIS WILLIAM A 96 SASSAFRAS COURT MOUNTAIN TOP PA 18707
ML667 10266124557 SPRIGGS JOHN E JR 5409 GRADIN AVENUE BALTIMORE MD 21207
ML667 10266124560 TATRO DAVID A 40 LOUISIANA AVENUE BAY SHORE NY 11706
ML667 10266124687 ARACIL FRANCIS E JR 15 UNDERHILL AVENUE HICKSVILLE NY 11801
ML667 10266124742 JOHNSON ELLA H 11224 NORTHEAST 141ST PLACE KIRKLAND WA 98034
ML667 10266124752 MANGINO MARIA 1314 FLAGLER DRIVE MAMARONECK NY 10543
ML667 10266124784 TERRY HARTSEL RAY 1312 ILLINOIS AVE PALM HARBOR FL 34683
ML667 10266124833 JAMES GEORGE P 163 FANNING STREET STATEN ISLAND NY 10314
ML667 10266124849 FOSTER JOSEPH C 263 CLARKS FALLS ROAD NORTH STONINGTON CT 06359
ML667 10266124852 MANGIA MARYANN 693 WINDMILL AVENUE WEST BABYLON NY 11704
ML667 10266125024 PETERSON LLOYD J 964 EAST 400 NORTH LAYTON UT 84041
ML667 10266125091 NESTOR SUSAN 31 LANSING AVENUE TRUMBULL CT 06611
ML667 10266125093 STALLONE ANTHONY 2416 84TH STREET BROOKLYN NY 11214
ML667 10266125167 TAIT PENNY D 1551 HERMESPROTA DRIVE SHARON HILL PA 19079
ML667 10266125176 CHARTCHAY BEN 14 CRESCENT DRIVE DANBURY CT 06810
ML667 10266125192 BROTHERS MELVIN P 636 HANOVER AVE ALLENTOWN PA 18103
ML667 10266125244 SARGENT MELISSA D 5435 AVENIDA DEL MARE SARASOTA FL 34242
ML667 10266125321 NOWLIN ROBERT E JR 4871 SOUTH 3900 WEST ROY UT 84067
ML667 10266125325 BASS DAVID PAUL 658 WEST 550 NORTH CLEARFIELD UT 84015
ML667 10266125347 COLON ANGEL 349 53RD STREET BROOKLYN NY 11220
ML667 10266125411 MEROLA MARIO 2150 77TH STREET BROOKLYN NY 11214
ML667 10266125432 BURKE WILLIAM H 3685 EAST LAZY RIVER DRIVE DUNNELLON FL 34434
ML667 10266125438 MAXWELL BESSIE L 4106 WESTWOOD DRIVE HOLIDAY FL 34691
ML667 10266125467 BRENNAN RHETT D 33 AUTUMN DRIVE DILLSBURG PA 17019
ML667 10266125489 SODERMAN STEVEN M 1754 WEST 13235 SOUTH RIVERTON UT 84065
ML667 10266125501 MAYES CHARLES H 121 ORANGE STREET LUMBERTON NC 28358
ML667 10266125569 HILL JAMES L 2152 E HARRISON AVENUE LATROBE PA 15650
ML667 10266125594 MESSINA SALVATORE 82 HAMLET DRIVE COMMACK NY 11725
ML667 10266125652 MANGUM CONIE M 12177SOUTH SUMMIT HOLLOW CIRC RIVERTON UT 84065
ML667 10266125699 LOTMAN RHONDA M 6711 N 30TH AVENUE PHOENIX AZ 85017
ML667 10266125705 KOGLER JACQUELINE 132 TRAFALGAR DRIVE SHIRLEY NY 11967
ML667 10266125868 CABAN ROBERTO 1258 TATAMY ROAD EASTON PA 18045
ML667 10266125874 MCSHANE RICKIE A SR 508 PAWNEE STREET BETHLEHEM PA 18015
ML667 10266125904 STIEGMANN EDWARD J 635 GRANDVIEW DRIVE LEHIGH ACRES FL 33936
ML667 10266125947 ROMERO JOSE R 1011 E EMMA STREET TAMPA FL 33603
ML667 10266125979 DUST JOSEPH T 1368 SOUTH HERCULES AVE CLEARWATER FL 34624
ML667 10266125996 PLUMMER MARJORIE J 4004 SAN RAFAEL STREET TAMPA FL 33629
ML667 10266125997 ESPLIN WAYNE 359 -61 EAST THIRD AVENUE SALT LAKE CITY UT 84103
ML667 10266126216 CRENSHAW HERMAN LEE 4364 LEE HEIGHTS BLVD. WARRENSVILLE HEIGHTS OH 44128
ML667 10266126342 BOSSO NICK 404 DEERFIELD ROAD CAMP HILL PA 17011
ML667 10266126430 KISER DIADRA K 3934 PASCAY COURT HOLIDAY FL 34691
ML667 10266126459 GRIEGO VINCENT J 5336 WEST HENLEY DRIVE SALT LAKE CITY UT 84118
ML667 10266126462 EASTABROOK TIMOTHY M 1201 WEST 1640 NORTH CLINTON UT 84015
ML667 10266126468 HUNTINGTON MICHAEL W 559-561 WEST 1000 SOUTH WOODS CROSS UT 84087
ML667 10266126470 PREECE GORDON S 3891 WEST 4000 SOUTH WEST HAVEN UT 84315
ML667 10266126471 WORTHEN PAUL E 162 EAST 3000 SOUTH BOUNTIFUL UT 84010
ML667 10266126573 LIVINGSTON WESLEY 21 RANDI DRIVE STONE RIDGE NY 12484
ML667 10266126574 HODGE OLIVE 109-16 205TH PLACE QUEENS NY 11412
ML667 10266126596 KIMBALL RALPH A 9927 SOUTH WEYBRIDGE CIRCLE SANDY UT 84092
ML667 10266126597 CUTLER CANDACE KAY 1576 CAPITOL STREET OGDEN UT 84401
ML667 10266126613 ZAHORUJKO NICK 2023 TITAN TERRACE WEST LINN OR 97068
ML667 10266126656 CRAFT MARVIN L 5405 ALTURAS DRIVE COLORADO SPRINGS CO 80911
<CAPTION>
Principal Cut-off Date First
Balance at Principal Payment Maturity Rem
Sale ID Account Origination Balance Date Date Term
- ---------------------------------------------------------------------------------------------------------------------
<C> <C> <S> <C> <C> <C> <C>
ML667 10266124216 28,000.00 28,000.00 09/01/96 08/01/11 179.00
ML667 10266124231 40,000.00 39,921.73 09/01/96 08/01/11 179.00
ML667 10266124243 12,000.00 12,000.00 09/01/96 08/01/16 239.00
ML667 10266124284 68,800.00 68,713.58 08/22/96 07/22/16 238.65
ML667 10266124339 118,000.00 118,000.00 08/25/96 07/25/11 178.75
ML667 10266124354 39,838.00 39,838.00 09/01/96 08/01/11 179.00
ML667 10266124372 23,200.00 23,200.00 08/03/96 07/03/11 178.03
ML667 10266124395 65,025.00 65,025.00 09/01/96 08/01/16 239.00
ML667 10266124403 37,421.00 37,277.74 08/03/96 07/03/11 178.03
ML667 10266124414 15,000.00 14,942.84 09/06/96 08/06/11 179.15
ML667 10266124551 42,000.00 41,937.75 09/02/96 08/02/16 239.01
ML667 10266124557 81,900.00 81,687.59 09/01/96 08/01/11 179.00
ML667 10266124560 63,000.00 63,000.00 09/01/96 08/01/11 179.00
ML667 10266124687 25,200.00 25,200.00 09/01/96 08/01/06 119.00
ML667 10266124742 38,700.00 38,683.09 08/16/96 07/16/11 178.45
ML667 10266124752 500,000.00 500,000.00 09/01/96 08/01/11 179.00
ML667 10266124784 42,000.00 41,951.54 09/01/96 08/01/16 239.00
ML667 10266124833 30,000.00 30,000.00 09/01/96 08/01/06 119.00
ML667 10266124849 26,800.00 26,800.00 09/05/96 08/05/11 179.11
ML667 10266124852 34,000.00 34,000.00 09/05/96 08/05/11 179.11
ML667 10266125024 18,983.00 18,983.00 08/03/96 07/03/11 178.03
ML667 10266125091 44,000.00 44,000.00 09/01/96 08/01/11 179.00
ML667 10266125093 15,000.00 15,000.00 09/08/96 08/08/16 239.21
ML667 10266125167 31,500.00 31,500.00 09/02/96 08/02/11 179.01
ML667 10266125176 22,700.00 22,651.36 09/01/96 08/01/11 179.00
ML667 10266125192 56,000.00 55,914.43 09/01/96 08/01/11 179.00
ML667 10266125244 34,800.00 34,800.00 09/01/96 08/01/11 179.00
ML667 10266125321 29,050.00 29,050.00 08/12/96 07/12/11 178.32
ML667 10266125325 23,918.00 23,918.00 08/25/96 07/25/11 178.75
ML667 10266125347 131,750.00 131,750.00 08/23/96 07/23/11 178.68
ML667 10266125411 50,000.00 50,000.00 09/06/96 08/06/11 179.15
ML667 10266125432 56,950.00 56,950.00 09/01/96 08/01/11 179.00
ML667 10266125438 59,500.00 59,500.00 09/01/96 08/01/26 359.00
ML667 10266125467 14,100.00 14,100.00 08/24/96 07/24/06 118.72
ML667 10266125489 42,783.00 42,760.77 08/17/96 07/17/11 178.49
ML667 10266125501 37,000.00 36,875.47 09/01/96 08/01/11 179.00
ML667 10266125569 27,530.00 27,530.00 09/06/96 08/06/16 239.15
ML667 10266125594 97,900.00 97,900.00 09/06/96 08/06/11 179.15
ML667 10266125652 27,206.00 27,206.00 08/16/96 07/16/11 178.45
ML667 10266125699 17,726.00 17,670.40 08/26/96 07/26/11 178.78
ML667 10266125705 163,800.00 163,800.00 09/05/96 08/05/11 179.11
ML667 10266125868 128,000.00 128,000.00 09/02/96 08/02/11 179.01
ML667 10266125874 18,300.00 18,300.00 09/02/96 08/02/11 179.01
ML667 10266125904 80,000.00 80,000.00 09/01/96 08/01/11 179.00
ML667 10266125947 17,500.00 17,500.00 09/05/96 08/05/11 179.11
ML667 10266125979 39,500.00 39,500.00 09/06/96 08/06/11 179.15
ML667 10266125996 70,200.00 70,200.00 09/01/96 08/01/11 179.00
ML667 10266125997 133,250.00 133,250.00 09/01/96 08/01/11 179.00
ML667 10266126216 58,500.00 58,500.00 09/01/96 08/01/26 359.00
ML667 10266126342 52,900.00 52,900.00 09/06/96 08/06/16 239.15
ML667 10266126430 17,600.00 17,600.00 09/06/96 08/06/11 179.15
ML667 10266126459 24,495.00 24,495.00 08/22/96 07/22/11 178.65
ML667 10266126462 33,539.00 33,482.11 08/22/96 07/22/11 178.65
ML667 10266126468 36,000.00 36,000.00 08/22/96 07/22/11 178.65
ML667 10266126470 29,784.00 29,749.37 08/22/96 07/22/11 178.65
ML667 10266126471 16,603.00 16,603.00 08/22/96 07/22/11 178.65
ML667 10266126573 67,500.00 67,481.74 07/26/96 06/26/16 237.80
ML667 10266126574 36,250.00 36,140.68 07/28/96 06/28/16 237.86
ML667 10266126596 72,000.00 72,000.00 08/23/96 07/23/16 238.68
ML667 10266126597 32,900.00 32,900.00 08/23/96 07/23/11 178.68
ML667 10266126613 85,000.00 85,000.00 09/02/96 08/02/11 179.01
ML667 10266126656 31,200.00 31,200.00 09/01/96 08/01/11 179.00
<CAPTION>
Original Current Scheduled
Date LTV Mortgage Payment
Sale ID Account Due Ratio Rate Int & Prin
- ---------------------------------------------------------------------------------------------
ML667 10266124216 09/01/96 73.8 13.250 358.89
ML667 10266124231 10/01/96 48.8 13.090 508.47
ML667 10266124243 09/01/96 79.5 10.750 121.83
ML667 10266124284 09/22/96 84.9 9.650 648.06
ML667 10266124339 08/25/96 85.0 13.950 1,393.48
ML667 10266124354 09/01/96 78.5 11.490 394.21
ML667 10266124372 09/03/96 84.9 13.450 300.44
ML667 10266124395 09/01/96 85.0 10.990 670.74
ML667 10266124403 10/03/96 81.2 14.700 516.07
ML667 10266124414 10/06/96 67.0 11.650 176.66
ML667 10266124551 10/02/96 89.5 11.990 462.16
ML667 10266124557 10/01/96 90.0 11.200 941.18
ML667 10266124560 09/01/96 90.0 11.500 623.88
ML667 10266124687 09/01/96 75.2 11.490 354.16
ML667 10266124742 09/16/96 67.5 12.200 469.46
ML667 10266124752 09/01/96 47.6 10.250 4,480.51
ML667 10266124784 10/01/96 66.6 11.990 462.16
ML667 10266124833 09/01/96 85.2 10.250 400.62
ML667 10266124849 09/05/96 83.1 12.750 334.69
ML667 10266124852 09/05/96 90.0 11.700 401.52
ML667 10266125024 09/03/96 89.9 12.600 235.21
ML667 10266125091 09/01/96 84.6 11.650 518.21
ML667 10266125093 09/08/96 67.8 13.550 181.65
ML667 10266125167 09/02/96 70.0 12.250 330.09
ML667 10266125176 10/01/96 89.9 12.000 272.44
ML667 10266125192 10/01/96 80.0 13.750 652.46
ML667 10266125244 09/01/96 84.7 12.990 440.08
ML667 10266125321 09/12/96 79.1 12.350 355.22
ML667 10266125325 09/25/96 71.9 15.350 340.51
ML667 10266125347 09/23/96 85.0 12.950 1,452.28
ML667 10266125411 09/06/96 87.9 12.000 514.31
ML667 10266125432 09/01/96 75.9 10.150 617.22
ML667 10266125438 09/01/96 85.0 12.490 634.56
ML667 10266125467 08/24/96 89.9 11.250 196.23
ML667 10266125489 09/17/96 86.7 11.000 486.27
ML667 10266125501 10/01/96 80.4 9.900 395.34
ML667 10266125569 09/06/96 68.8 10.000 265.67
ML667 10266125594 09/06/96 84.9 11.750 988.21
ML667 10266125652 08/16/96 79.8 15.100 382.64
ML667 10266125699 09/26/96 89.4 12.000 212.74
ML667 10266125705 09/05/96 90.0 11.750 1,653.41
ML667 10266125868 09/02/96 84.7 9.990 1,122.35
ML667 10266125874 09/02/96 90.0 11.740 216.58
ML667 10266125904 09/01/96 80.0 11.690 803.85
ML667 10266125947 09/05/96 82.8 10.500 193.44
ML667 10266125979 09/06/96 89.9 11.700 466.47
ML667 10266125996 09/01/96 60.0 11.750 708.61
ML667 10266125997 09/01/96 65.0 12.440 1,415.92
ML667 10266126216 09/01/96 90.0 11.240 567.74
ML667 10266126342 09/06/96 89.9 11.750 573.28
ML667 10266126430 09/06/96 74.3 11.450 205.04
ML667 10266126459 09/22/96 84.9 13.450 317.21
ML667 10266126462 09/22/96 89.8 12.600 415.56
ML667 10266126468 09/22/96 69.6 12.200 436.70
ML667 10266126470 09/22/96 80.0 15.590 428.95
ML667 10266126471 08/22/96 84.9 13.450 215.01
ML667 10266126573 08/26/96 47.8 11.500 719.84
ML667 10266126574 09/28/96 89.3 10.500 361.91
ML667 10266126596 09/23/96 67.0 14.900 942.77
ML667 10266126597 08/23/96 83.9 12.200 399.10
ML667 10266126613 09/02/96 71.4 10.750 793.46
ML667 10266126656 09/01/96 88.2 12.250 379.49
</TABLE>
<PAGE>
Alliance Funding Company Page 20 9/16/96
A division of Superior Bank FSB
Sale Schedule
1996-3 Class 1 - Initial Pool of Fixed Rate Mortgages - Settlement 9/23/96
<TABLE>
<CAPTION>
Zip
Sale ID Account Name Address City State Code
- -----------------------------------------------------------------------------------------------------------------------------
<C> <C> <S> <C> <C> <C> <C>
ML667 10266126685 WATTERS JASON B 314 BALL STREET ELGIN IL 60123
ML667 10266126721 KING DOROTHY U 6900 SCHISSLER AVENUE BALTIMORE MD 21207
ML667 10266126784 KENYON WESLEY E 4929 DEWAR DRIVE COLORADO SPRINGS CO 80916
ML667 10266126806 HAHN NANCY LOUISE 276 SOUTH ADAMS PLACE LOUISVILLE CO 80027
ML667 10266126820 ALDRICH KIRK E 6106 MACARTHUR DR. HARRISBURG PA 17112
ML667 10266126927 EBINGER WARREN L 8 15TH STREET HAMMONTON NJ 08037
ML667 10266126936 FRONAPFEL JAMES C 9230 WEST 87TH PLACE ARVADA CO 80005
ML667 10266127443 WEST KELLY 8491 SOUTH MEADOWLARK LANE WEST JORDAN UT 84088
-------------------------------------------
194 Sale Total
<CAPTION>
Principal Cut-off Date First
Balance at Principal Payment Maturity Rem
Sale ID Account Origination Balance Date Date Term
- ---------------------------------------------------------------------------------------------------------------------
<C> <C> <S> <C> <C> <C> <C>
ML667 10266126685 104,500.00 104,473.11 09/01/96 08/01/11 179.00
ML667 10266126721 125,400.00 125,400.00 09/07/96 08/07/11 179.18
ML667 10266126784 48,148.00 48,148.00 09/01/96 08/01/11 179.00
ML667 10266126806 25,000.00 25,000.00 09/01/96 08/01/11 179.00
ML667 10266126820 55,000.00 54,850.38 09/05/96 08/05/11 179.11
ML667 10266126927 56,000.00 56,000.00 09/05/96 08/05/11 179.11
ML667 10266126936 24,000.00 24,000.00 09/05/96 08/05/11 179.11
ML667 10266127443 12,782.00 12,782.00 09/01/96 08/01/11 179.00
--------------------------------------------------------- -------------
194 12,493,529.00 12,487,838.39 219.54
<CAPTION>
Original Current Scheduled
Date LTV Mortgage Payment
Sale ID Account Due Ratio Rate Int & Prin
- ---------------------------------------------------------------------------------------------
ML667 10266126685 10/01/96 84.9 10.250 936.43
ML667 10266126721 09/07/96 80.9 13.250 1,411.72
ML667 10266126784 09/01/96 90.0 12.250 585.62
ML667 10266126806 09/01/96 67.6 10.750 233.37
ML667 10266126820 10/05/96 83.4 11.950 563.62
ML667 10266126927 09/05/96 46.6 10.990 532.88
ML667 10266126936 09/05/96 79.4 13.500 311.60
ML667 10266127443 09/01/96 80.2 12.200 155.05
------------------ -------------------------------------------
194 77.8 11.486 129,020.97
</TABLE>
<PAGE>
Alliance Funding Company Page 21 9/16/96
A division of Superior Bank FSB
Sale Schedule
1996-3 Class 1 - Initial Pool of Fixed Rate Mortgages - Settlement 9/23/96
<TABLE>
<CAPTION>
Zip
Sale ID Account Name Address City State Code
- -----------------------------------------------------------------------------------------------------------------------------
<C> <C> <S> <C> <C> <C> <C>
ML668 10266107708 FRANCOIS NEPTUNE 145 17 FARMERS BLVD SPRINGFIELD GARDENS NY 11434
ML668 10266108820 SEELEY WORTH L 353 OAK TRAIL COVENTRY CT 06238
ML668 10266113117 MUIR CLARENCE GEORGE 148-15 NORTH CONDUIT AVENUE SOUTH OZONE PARK NY 11436
ML668 10266113222 BRADY MICHAEL W 2528 NORTHEAST 18TH AVENUE PORTLAND OR 97212
ML668 10266113556 IBRAIMOVIC MUKEREM 1123 FOREST AVENUE STATEN ISLAND NY 10310
ML668 10266113777 ROSE DAVID MORTON 16254 GREENHORN ROAD GRASS VALLEY CA 95945
ML668 10266114349 KENNEDY BRADLEY G 1311 KENTUCKY STREET HIGH POINT NC 27262
ML668 10266114934 MORRELL ELIZABETH 512 SHERWOOD LANE HATBORO PA 19040
ML668 10266115017 LEONE MARIA 63 PASSAIC STREET NEWARK NJ 07104
ML668 10266115690 DIXON STANLEY 672 EAST 224TH STREET BRONX NY 10466
ML668 10266115774 GOEDEL EUGENE 2221 N SWAN ROAD TUCSON AZ 85712
ML668 10266115959 DAVIS MARILYN B 3717 WEST CHAMA DRIVE PHOENIX AZ 85310
ML668 10266117173 CLARK MARILYN CARROLL 2370 SIDEWINDER DRIVE PARK CITY UT 84060
ML668 10266117186 ASPER CASSANDRA RENEE 212 PARK STREET SILVERTON OR 97381
ML668 10266117228 ROMULUS FABIEN 145-43 158TH STREET JAMAICA NY 11434
ML668 10266118229 SANTISTEVAN RICHARD 11708 W KATHERINE AVENUE GOLDEN CO 80401
ML668 10266118355 WATSON ROMANA 177 19 106TH AVENUE JAMAICA NY 11433
ML668 10266118595 CHRISTIAN OLEDI D 8554 WEST BERKELEY ROAD PHOENIX AZ 85037
ML668 10266118705 FERGUSON DAVID C 11509 BELVIDERE ROAD MITCHELLVILLE MD 20716
ML668 10266118844 YODER JANET S 608 EAGLE PLACE NOKOMIS FL 34275
ML668 10266119162 SALAZAR CONSUELO C 603 N ALAMEDA BOULEVARD LAS CRUCES NM 88005
ML668 10266119682 CARVER EDWIN R 5304 WEYWOOD AVENUE REISTERSTOWN MD 21136
ML668 10266119913 JOHNSON WILLIAM H 10060 FAIRBANKS AVENUE BEACH PARK IL 60099
ML668 10266120059 WRIGHT KENTON H 4337 ELY AVENUE BRONX NY 10466
ML668 10266120157 SPENCER DARIN R 23480 RENO AVENUE GERBER CA 96035
ML668 10266120191 CHAIT DAVID 148-13 HOOK CREEK BOULEVARD ROSEDALE NY 11422
ML668 10266120223 WERBER DAVID G 15 ALLAN ROAD BREWSTER NY 10509
ML668 10266120417 ESPOSITO LOUIS 116 DALE DRIVE OAKDALE NY 11769
ML668 10266120676 NISSEN JACK L 12844 KENYON DRIVE CHESTERLAND OH 44026
ML668 10266120686 KORDISH WILLIAM A 2337 WEST 5TH STREET CLEVELAND OH 44113
ML668 10266120866 BERNARD SANFORD 42 WOODLAND ROAD ROSLYN NY 11576
ML668 10266120917 MILLIAN SUSAN M 1234 MIDDLESEX DRIVE NEW PORT RICHEY FL 34655
ML668 10266120937 HENINGER KEITH K 1266 NORTH 3200 WEST WEST POINT UT 84015
ML668 10266120952 KENYON H PAYSON 708 EAST COCHISE DRIVE UNIT B PHOENIX AZ 85020
ML668 10266120968 MARRONE JOHN 89 HOMESTEAD PLACE NEW ROCHELLE NY 10801
ML668 10266121136 THOMPSON BEVERLY C 57 SHERIN DRIVE NEWARK DE 19702
ML668 10266121154 ADAMS DAVID A 4017 PURDY ROAD LOCKPORT NY 14094
ML668 10266121259 ARMSTRONG VIVIAN S 533 HAMPSHIRE LANE BOLINGBROOK IL 60440
ML668 10266121288 ONUFFER MARY BETH 154 COLONY STREET DEPEW NY 14043
ML668 10266121476 REAGAN ELBERT B 1345 W EDGEMONT AVE. PHOENIX AZ 85007
ML668 10266121596 SANCHEZ MARIANELA 448, 450, 452 S PERSHING AVE STOCKTON CA 95206
ML668 10266121716 BLEDSOE DANITA M 4256 SUNSET AVENUE INDIANAPOLIS IN 46208
ML668 10266121817 PHILIPS ILKER ZERTUNC 3 KELLY COURT EAST FISHKILL NY 12582
ML668 10266121848 GABY DEBRA ELIZABETH 759 ZUNI ROAD RIO RANCHO NM 87124
ML668 10266121870 KIMMINAU FERDINAND F 928 BERKLEY STREET CARPENTERSVILLE IL 60110
ML668 10266121871 EASTERLING ROBERT W 826 EAST HYDE PARK UNIT 2 CHICAGO IL 60615
ML668 10266121986 OCAMPO ELSA L 153 SAINT NICHOLAS AVENUE BROOKLYN NY 11237
ML668 10266121995 MIRSKY EDWARD 8 MASON AVENUE EAST BRUNSWICK NJ 08816
ML668 10266122003 GOWEN ALAN R 2581 SOUTH BAUMGARDNER ROAD KEYMAR MD 21757
ML668 10266122034 DECARLO STEVEN F 1859 EAST 22 STREET BROOKLYN NY 11229
ML668 10266122176 IVEY WILLIAM H 3281 TURTLE LAKE DRIVE MARIETTA GA 30067
ML668 10266122225 OMBAO WILLIAM G 520 MILLS HINSDALE IL 60521
ML668 10266122229 HAWTHORNE CARVIN E 14072 W. OUTER DRIVE DETROIT MI MI 48239
ML668 10266122231 BANKS JULIETTE M 12624 SOUTH HARVARD CHICAGO IL 60628
ML668 10266122247 DALTON MARTHA C 3561 LOOKER AVENUE AKRON OH 44319
ML668 10266122510 KOHLER DAVID P 224 EAST MARKET STREET HELLAM PA 17406
ML668 10266122622 SANCHEZ MARIANELA 1334 1336 1338 W CHURCH ST STOCKTON CA 95206
ML668 10266122668 HAUGER LYNN 1336 ANTIGO TRAIL CAROL STREAM IL 60188
ML668 10266122671 O'BRIEN JAMES D 849 LAGRANGE ROAD LAGRANGE IL 60525
ML668 10266122690 HOSTETLER JERRY A 4923 E. KESSLER BLVD. INDIANAPOLIS IN 46220
ML668 10266122697 SHORTT TERRENCE E 11 WILEY LANE NEWTOWN CT 06470
ML668 10266122770 SAINSBURY DANIEL O 2185 NORTH 2300 EAST LAYTON UT 84040
<CAPTION>
Principal Cut-off Date First
Balance at Principal Payment Maturity Rem
Sale ID Account Origination Balance Date Date Term
- ---------------------------------------------------------------------------------------------------------------------
<C> <C> <S> <C> <C> <C> <C>
ML668 10266107708 124,000.00 124,000.00 07/17/96 06/17/11 177.50
ML668 10266108820 43,400.00 43,400.00 06/06/96 05/06/11 176.12
ML668 10266113117 100,000.00 100,000.00 09/08/96 08/08/11 179.21
ML668 10266113222 53,490.00 53,490.00 08/26/96 07/26/11 178.78
ML668 10266113556 64,500.00 64,500.00 08/01/96 07/01/11 178.00
ML668 10266113777 344,000.00 344,000.00 07/25/96 06/25/11 177.76
ML668 10266114349 81,000.00 81,000.00 09/09/96 08/09/11 179.24
ML668 10266114934 55,000.00 54,851.38 08/10/96 07/10/11 178.26
ML668 10266115017 43,200.00 43,200.00 09/07/96 08/07/26 359.18
ML668 10266115690 196,000.00 196,000.00 09/01/96 08/01/26 359.00
ML668 10266115774 26,252.00 26,252.00 08/02/96 07/02/11 177.99
ML668 10266115959 79,459.00 79,398.22 07/19/96 06/19/11 177.57
ML668 10266117173 192,800.00 192,800.00 09/05/96 08/05/26 359.11
ML668 10266117186 21,400.00 21,238.90 07/24/96 06/24/11 177.73
ML668 10266117228 90,000.00 90,000.00 08/19/96 07/19/11 178.55
ML668 10266118229 47,000.00 47,000.00 07/26/96 06/26/11 177.80
ML668 10266118355 123,750.00 123,750.00 09/14/96 08/14/16 239.41
ML668 10266118595 103,700.00 103,700.00 08/12/96 07/12/26 358.32
ML668 10266118705 47,000.00 47,000.00 09/12/96 08/12/11 179.34
ML668 10266118844 32,500.00 32,500.00 09/08/96 08/08/16 239.21
ML668 10266119162 78,000.00 78,000.00 07/25/96 06/25/11 177.76
ML668 10266119682 55,000.00 55,000.00 09/12/96 08/12/11 179.34
ML668 10266119913 13,600.00 13,469.54 08/01/96 09/01/11 180.00
ML668 10266120059 31,500.00 31,500.00 09/06/96 08/06/11 179.15
ML668 10266120157 192,950.00 192,950.00 08/26/96 07/26/11 178.78
ML668 10266120191 199,500.00 199,424.89 07/25/96 06/25/11 177.76
ML668 10266120223 45,000.00 45,000.00 09/14/96 08/14/11 179.41
ML668 10266120417 26,300.00 26,300.00 09/05/96 08/05/11 179.11
ML668 10266120676 144,500.00 144,356.27 08/15/96 07/15/16 238.42
ML668 10266120686 38,500.00 38,500.00 09/01/96 08/01/11 179.00
ML668 10266120866 300,000.00 298,888.94 09/01/96 08/01/11 179.00
ML668 10266120917 144,000.00 144,000.00 09/09/96 08/09/11 179.24
ML668 10266120937 29,000.00 28,427.87 08/23/96 07/23/11 178.68
ML668 10266120952 34,230.00 34,230.00 07/25/96 06/25/11 177.76
ML668 10266120968 100,000.00 100,000.00 09/02/96 08/02/26 359.01
ML668 10266121136 30,000.00 30,000.00 08/15/96 07/15/11 178.42
ML668 10266121154 21,000.00 21,000.00 09/05/96 08/05/11 179.11
ML668 10266121259 99,700.00 99,700.00 09/01/96 08/01/16 239.00
ML668 10266121288 16,943.00 16,943.00 09/01/96 08/01/11 179.00
ML668 10266121476 26,856.00 26,856.00 09/01/96 08/01/11 179.00
ML668 10266121596 81,000.00 81,000.00 08/12/96 07/12/26 358.32
ML668 10266121716 43,200.00 43,200.00 09/01/96 08/01/26 359.00
ML668 10266121817 120,000.00 120,000.00 09/12/96 08/12/11 179.34
ML668 10266121848 69,900.00 69,900.00 07/28/96 06/28/11 177.86
ML668 10266121870 80,100.00 80,012.98 07/28/96 06/28/11 177.86
ML668 10266121871 27,300.00 27,170.08 09/01/96 08/01/11 179.00
ML668 10266121986 28,000.00 28,000.00 09/12/96 08/12/11 179.34
ML668 10266121995 41,000.00 40,919.51 07/25/96 06/25/16 237.76
ML668 10266122003 38,601.00 38,601.00 09/09/96 08/09/11 179.24
ML668 10266122034 109,750.00 109,750.00 09/05/96 08/05/11 179.11
ML668 10266122176 44,400.00 44,400.00 08/17/96 07/17/11 178.49
ML668 10266122225 43,300.00 43,300.00 08/09/96 07/09/16 238.22
ML668 10266122229 22,000.00 21,973.44 08/22/96 07/22/16 238.65
ML668 10266122231 60,000.00 60,000.00 09/01/96 08/01/16 239.00
ML668 10266122247 72,000.00 71,812.53 09/01/96 08/01/11 179.00
ML668 10266122510 19,105.00 19,105.00 09/05/96 08/05/11 179.11
ML668 10266122622 63,000.00 63,000.00 08/12/96 07/12/26 358.32
ML668 10266122668 15,000.00 14,979.64 09/01/96 08/01/16 239.00
ML668 10266122671 84,000.00 84,000.00 09/01/96 08/01/16 239.00
ML668 10266122690 250,000.00 250,000.00 08/24/96 07/24/16 238.72
ML668 10266122697 51,000.00 51,000.00 09/07/96 08/07/11 179.18
ML668 10266122770 16,300.00 16,124.75 09/01/96 08/01/11 179.00
<CAPTION>
Original Current Scheduled
Date LTV Mortgage Payment
Sale ID Account Due Ratio Rate Int & Prin
- ---------------------------------------------------------------------------------------------
ML668 10266107708 08/17/96 80.0 13.300 1,400.82
ML668 10266108820 08/06/96 48.7 13.750 505.66
ML668 10266113117 09/08/96 69.4 9.650 1,053.30
ML668 10266113222 08/26/96 86.9 11.650 535.84
ML668 10266113556 09/01/96 79.3 13.850 756.59
ML668 10266113777 08/25/96 76.4 11.800 3,485.56
ML668 10266114349 09/09/96 84.8 10.950 918.10
ML668 10266114934 09/10/96 61.1 9.650 468.50
ML668 10266115017 09/07/96 80.0 12.450 459.38
ML668 10266115690 09/01/96 80.0 12.200 2,046.31
ML668 10266115774 08/02/96 84.9 12.700 326.99
ML668 10266115959 09/19/96 79.9 10.400 720.91
ML668 10266117173 09/05/96 77.1 10.850 1,814.26
ML668 10266117186 09/24/96 84.9 12.700 266.55
ML668 10266117228 08/19/96 85.7 11.750 908.47
ML668 10266118229 08/26/96 83.1 11.750 556.54
ML668 10266118355 09/14/96 75.0 10.750 1,256.35
ML668 10266118595 09/12/96 89.9 11.990 1,065.87
ML668 10266118705 09/12/96 89.5 11.350 544.58
ML668 10266118844 09/08/96 79.9 13.400 390.06
ML668 10266119162 08/25/96 79.9 10.700 725.19
ML668 10266119682 09/12/96 73.2 10.500 503.11
ML668 10266119913 09/01/96 74.9 11.850 161.27
ML668 10266120059 09/06/96 90.0 12.800 343.54
ML668 10266120157 08/26/96 84.8 13.050 2,141.96
ML668 10266120191 08/25/96 70.0 10.750 1,862.30
ML668 10266120223 09/14/96 75.0 13.990 598.98
ML668 10266120417 09/05/96 90.0 11.250 255.44
ML668 10266120676 09/15/96 84.7 9.500 1,346.93
ML668 10266120686 09/01/96 62.0 11.250 443.65
ML668 10266120866 10/01/96 68.9 9.250 3,087.58
ML668 10266120917 09/09/96 80.0 9.350 1,195.10
ML668 10266120937 09/23/96 90.0 12.350 306.13
ML668 10266120952 09/25/96 70.0 9.250 281.60
ML668 10266120968 09/02/96 52.6 10.750 933.48
ML668 10266121136 09/15/96 89.7 11.400 348.55
ML668 10266121154 09/05/96 88.0 12.350 256.78
ML668 10266121259 09/01/96 74.9 11.990 1,097.09
ML668 10266121288 09/01/96 84.9 12.700 211.04
ML668 10266121476 09/01/96 85.1 12.700 334.51
ML668 10266121596 08/12/96 90.0 10.750 756.12
ML668 10266121716 10/01/96 80.0 13.490 494.48
ML668 10266121817 09/12/96 75.0 10.990 1,141.88
ML668 10266121848 08/28/96 63.6 10.500 639.40
ML668 10266121870 09/28/96 90.0 11.150 771.90
ML668 10266121871 10/01/96 65.0 10.500 249.72
ML668 10266121986 09/12/96 90.0 11.000 318.25
ML668 10266121995 09/25/96 84.9 10.250 402.47
ML668 10266122003 09/09/96 70.8 12.250 404.50
ML668 10266122034 09/05/96 69.7 12.050 1,320.72
ML668 10266122176 09/17/96 89.9 12.400 470.42
ML668 10266122225 09/09/96 89.9 11.740 468.95
ML668 10266122229 09/22/96 43.1 9.740 208.53
ML668 10266122231 09/01/96 68.1 10.250 588.99
ML668 10266122247 10/01/96 78.2 9.650 758.37
ML668 10266122510 09/05/96 89.8 12.100 197.99
ML668 10266122622 08/12/96 70.0 10.750 588.09
ML668 10266122668 10/01/96 80.4 10.490 149.66
ML668 10266122671 09/01/96 80.0 9.990 810.06
ML668 10266122690 09/24/96 60.0 11.750 2,709.27
ML668 10266122697 09/07/96 84.5 12.500 628.59
ML668 10266122770 10/01/96 72.1 12.450 173.33
</TABLE>
<PAGE>
Alliance Funding Company Page 22 9/16/96
A division of Superior Bank FSB
Sale Schedule
1996-3 Class 1 - Initial Pool of Fixed Rate Mortgages - Settlement 9/23/96
<TABLE>
<CAPTION>
Zip
Sale ID Account Name Address City State Code
- -----------------------------------------------------------------------------------------------------------------------------
<C> <C> <S> <C> <C> <C> <C>
ML668 10266122840 HEFTRIG RAYMOND J 427 EAST WISE ROAD SCHAUMBURG IL 60193
ML668 10266122922 BRADFORD JOHN D 17248 110TH AVE SE YELM WA 98597
ML668 10266122968 SLOWICK MITCHELL A 37 FOSTER ROAD SOUTH WINDSOR CT 06074
ML668 10266123061 DESETA NICK E 326 NORTH GARFIELD ST YORK PA 17404
ML668 10266123080 BLEDSOE DENNIS JAY 1556 SOUTH 350 EAST KAYSVILLE UT 84037
ML668 10266123180 DEEGAN JOHN THOMAS 13417 FELLRATH TAYLOR MI 48180
ML668 10266123185 OLEARY TIMOTHY 3700 N PLAINFIELD CHICAGO IL 60634
ML668 10266123190 BUSCH CHARLES L JR 12007 BLUHILL ROAD WHEATON MD 20902
ML668 10266123303 LEACH DARNELL 1301 MERGANSER COURT UPPER MARLBORO MD 20772
ML668 10266123344 HOSEY BILLIE M 501 MORGAN STREET YORKVILLE IL 60560
ML668 10266123385 HARTMAN WILLIAM C 1820 BUCK ROAD FEASTERVILLE PA 19053
ML668 10266123398 GENNELLO BRIAN 203 DETWEILER ROAD MANSFIELD PA 16933
ML668 10266123436 HAMMONDS JAMES N ROUTE 2 BOX 366 RED SPRINGS NC 28377
ML668 10266123529 GREY JOHN J 291 BUTTERNUT LANE BEREA OH 44017
ML668 10266123536 SHAMBLIN GERALD B 1427 LEROY FERNDALE MI 48220
ML668 10266123540 MCKEE BILLIE E 7236 SOUTH CRANDON CHICAGO IL 60649
ML668 10266123636 JORDAN DOUGLAS P 3911 LANCASTER DRIVE SARASOTA FL 34241
ML668 10266123719 HOBERG CHARLES D 1842 RIDGEVIEW DRIVE WICKLIFFE OH 44092
ML668 10266123865 ANDERSON ERIC JOHN 317 WEST 930 NORTH SUNSET UT 84015
ML668 10266123880 OCONNOR THOMAS P 3651 WEST 113TH STREET CHICAGO IL 60655
ML668 10266124047 PLUMMER-WILLIAMS MARY P 1513 SOUTH YANK STREET LAKEWOOD CO 80228
ML668 10266124078 PETERS LINCOLN L 1457 EAST 3045 SOUTH SALT LAKE CITY UT 84106
ML668 10266124086 ADAMS DONALD M 5205 N WESTWOOD DRIVE MCHENRY IL 60050
ML668 10266124132 RUDE JEFFREY D 14 BRIDGE STREET COLCHESTER CT 06415
ML668 10266124200 STOVER JR MARK C 3165 WARREN LANE EL DORADO HILLS CA 95762
ML668 10266124236 BALLARD WILLIE C SR 504 HABERSHAM ROAD HIGH POINT NC 27260
ML668 10266124245 DEEN DARRIN L 125 DOLOMITE DRIVE COLORADO SPRINGS CO 80919
ML668 10266124271 NEWLAND CAROL J 36555 VALLEYVIEW DRIVE EASTLAKE OH 44095
ML668 10266124318 RUSSO RALPH J 1477 5TH COURT STAYTON OR 97383
ML668 10266124434 HAMBLET CHERYL 2038 EAST 73RD STREET CHICAGO IL 60649
ML668 10266124435 JOHNSON JAMES 7318 S WABASH CHICAGO IL 60619
ML668 10266124602 WHITE THOMAS L 11330 BAKER ROAD KEYMAR MD 21757
ML668 10266124632 JACOBSON RICHARD L 1875 CAPITOL ST SE SALEM OR 97302
ML668 10266124734 DEXTER MARK W 331 PINEAPPLE STREET TARPON SPRINGS FL 34689
ML668 10266124739 FISHER MYRON E 16 CREST ROAD HAZLETON PA 18201
ML668 10266124751 CARSON ROBERT H 339 SOUTH 320 WEST TOOELE UT 84074
ML668 10266124813 MILLER KATHRYN H 5485 SLICKROCK DRIVE COLORADO SPRINGS CO 80918
ML668 10266124828 BARNAK GREGORY H 28 ROCKWELL ROAD BETHEL CT 06801
ML668 10266124836 FRADENBUR ANA SONIA MUSTO 2222 KINGFISH ROAD NAPLES FL 33962
ML668 10266124842 ABBOTT WILLIAM J 105 NORTH WAY CAMILLUS NY 13031
ML668 10266124859 VANDERFORD JOHN W 500 EDGEHILL DRIVE PROVIDENCE UT 84332
ML668 10266124864 MONGEON ALAIN J 3351 MOOSE RIVER ROAD BOONVILLE NY 13309
ML668 10266124868 STINSON JONI L 209 W ORMAN AVE PUEBLO CO 81004
ML668 10266124874 KHALIFA STEPHANIE 1727-1731 E 13TH STREET TUCSON AZ 85719
ML668 10266124875 ZACAPALA DAVID 1611 NORTH 37TH DRIVE PHOENIX AZ 85009
ML668 10266124914 CARMANY ELROY JR 1 RR - BOX 403 MARKLEVILLE IN 46056
ML668 10266124929 MILLER VICTORIA 25 CASTLEBAR CIRCLE FORT MYERS FL 33905
ML668 10266124956 DONOFRIO RINO 7924 ZIEGLER TAYLOR MI 48180
ML668 10266124986 MURDOCK MARSHALL THOMAS 1048 SOUTH 500 WEST OREM UT 84058
ML668 10266124991 MURPHY GEORGE J 886 CLARKE STREET BRIDGEPORT CT 06606
ML668 10266125021 BREEZE MARK R 5768 WEST 6200 SOUTH SALT LAKE CITY UT 84118
ML668 10266125096 DEMKO JEROME 23664 W. KURT RD. CHANNAHON IL 60410
ML668 10266125118 RIVANO GARY 107 PARIS COURT WEST ISLIP NY 11795
ML668 10266125177 BOYER NICOLE D RD 1 BOX 1210 TAMAQUA PA 18252
ML668 10266125272 PAOLINO FRANK 342 PITTSBURGH AVENUE MASSAPEQUA PARK NY 11762
ML668 10266125286 WALSH WILLIAM G 3477 RD 3 NYS ROUTE 64 CANANDAIGUA NY 14424
ML668 10266125352 LOPORCHIO JOSEPH 31 MANOR HILLS DRIVE MANORVILLE NY 11949
ML668 10266125403 DORMAN ARTHUR G 56 SULLIVAN DRIVE JERICHO NY 11753
ML668 10266125405 HAGER TIM P 985 E BRIARWOOD CIRCLE SOUTH LITTLETON CO 80122
ML668 10266125417 SCHREINER PATRICK M 578 ROSE ST NE SALEM OR 97301
ML668 10266125450 CORIC MARKO 1111 POPLARWOOD DRIVE CALIFORNIA MD 20619
ML668 10266125558 DAVARASHVILI NADEZHDA 96-24 72ND AVENUE FOREST HILLS NY 11375
<CAPTION>
Principal Cut-off Date First
Balance at Principal Payment Maturity Rem
Sale ID Account Origination Balance Date Date Term
- ---------------------------------------------------------------------------------------------------------------------
<C> <C> <S> <C> <C> <C> <C>
ML668 10266122840 203,000.00 202,958.21 08/19/96 07/19/26 358.55
ML668 10266122922 12,122.00 12,122.00 08/25/96 07/25/11 178.75
ML668 10266122968 21,000.00 21,000.00 09/13/96 08/13/11 179.38
ML668 10266123061 57,200.00 57,200.00 09/07/96 08/07/11 179.18
ML668 10266123080 17,500.00 17,464.19 08/22/96 07/22/11 178.65
ML668 10266123180 44,200.00 44,200.00 09/01/96 08/01/16 239.00
ML668 10266123185 132,000.00 131,741.91 08/26/96 07/26/16 238.78
ML668 10266123190 20,000.00 20,000.00 09/01/96 08/01/11 179.00
ML668 10266123303 37,000.00 37,000.00 09/09/96 08/09/11 179.24
ML668 10266123344 30,000.00 30,000.00 08/24/96 07/24/16 238.72
ML668 10266123385 16,798.00 16,798.00 09/01/96 08/01/11 179.00
ML668 10266123398 38,000.00 38,000.00 09/05/96 08/05/11 179.11
ML668 10266123436 38,200.00 38,200.00 09/07/96 08/07/11 179.18
ML668 10266123529 100,800.00 100,800.00 08/26/96 07/26/11 178.78
ML668 10266123536 68,000.00 68,000.00 09/01/96 08/01/26 359.00
ML668 10266123540 110,200.00 110,200.00 09/01/96 08/01/26 359.00
ML668 10266123636 66,400.00 66,400.00 09/12/96 08/12/11 179.34
ML668 10266123719 75,000.00 75,000.00 08/26/96 07/26/16 238.78
ML668 10266123865 21,500.00 21,268.87 08/23/96 07/23/11 178.68
ML668 10266123880 21,000.00 20,979.42 08/26/96 07/26/11 178.78
ML668 10266124047 110,500.00 110,500.00 08/26/96 07/26/11 178.78
ML668 10266124078 39,684.00 39,684.00 09/12/96 08/12/11 179.34
ML668 10266124086 95,000.00 95,000.00 08/26/96 07/26/11 178.78
ML668 10266124132 25,750.00 25,750.00 09/12/96 08/12/11 179.34
ML668 10266124200 66,000.00 66,000.00 08/23/96 07/23/11 178.68
ML668 10266124236 53,900.00 53,900.00 09/14/96 08/14/11 179.41
ML668 10266124245 21,900.00 21,900.00 09/06/96 08/06/16 239.15
ML668 10266124271 13,000.00 12,701.85 08/25/96 07/25/16 238.75
ML668 10266124318 25,594.00 25,594.00 09/12/96 08/12/11 179.34
ML668 10266124434 47,700.00 47,468.31 09/01/96 08/01/11 179.00
ML668 10266124435 71,000.00 71,000.00 09/01/96 08/01/11 179.00
ML668 10266124602 40,600.00 40,600.00 09/12/96 08/12/11 179.34
ML668 10266124632 17,900.00 17,900.00 09/12/96 08/12/11 179.34
ML668 10266124734 14,500.00 14,500.00 09/07/96 08/07/11 179.18
ML668 10266124739 102,000.00 102,000.00 09/12/96 08/12/06 119.34
ML668 10266124751 16,200.00 16,200.00 09/05/96 08/05/11 179.11
ML668 10266124813 22,600.00 22,600.00 09/09/96 08/09/16 239.24
ML668 10266124828 41,800.00 41,800.00 09/02/96 08/02/16 239.01
ML668 10266124836 125,000.00 125,000.00 09/07/96 08/07/26 359.18
ML668 10266124842 26,400.00 26,400.00 09/07/96 08/07/11 179.18
ML668 10266124859 58,000.00 58,000.00 09/13/96 08/13/11 179.38
ML668 10266124864 82,400.00 82,400.00 09/05/96 08/05/26 359.11
ML668 10266124868 25,000.00 25,000.00 09/09/96 08/09/11 179.24
ML668 10266124874 77,000.00 77,000.00 08/16/96 07/16/11 178.45
ML668 10266124875 24,000.00 23,886.50 09/01/96 08/01/11 179.00
ML668 10266124914 26,000.00 26,000.00 09/01/96 08/01/11 179.00
ML668 10266124929 43,350.00 43,350.00 09/12/96 08/12/11 179.34
ML668 10266124956 69,300.00 69,300.00 09/01/96 08/01/26 359.00
ML668 10266124986 26,392.00 26,325.54 09/02/96 08/02/11 179.01
ML668 10266124991 35,000.00 35,000.00 09/05/96 08/05/11 179.11
ML668 10266125021 11,411.00 11,333.31 08/19/96 07/19/11 178.55
ML668 10266125096 60,000.00 59,889.07 09/01/96 08/01/16 239.00
ML668 10266125118 28,200.00 28,200.00 09/07/96 08/07/11 179.18
ML668 10266125177 28,500.00 28,364.18 08/24/96 07/24/06 118.72
ML668 10266125272 17,500.00 17,500.00 09/12/96 08/12/06 119.34
ML668 10266125286 38,600.00 38,600.00 09/12/96 08/12/16 239.34
ML668 10266125352 47,000.00 47,000.00 09/07/96 08/07/11 179.18
ML668 10266125403 30,000.00 30,000.00 09/13/96 08/13/06 119.38
ML668 10266125405 112,000.00 112,000.00 09/12/96 08/12/11 179.34
ML668 10266125417 15,000.00 15,000.00 09/12/96 08/12/11 179.34
ML668 10266125450 20,000.00 20,000.00 09/13/96 08/13/11 179.38
ML668 10266125558 160,800.00 160,800.00 08/26/96 07/26/26 358.78
<CAPTION>
Original Current Scheduled
Date LTV Mortgage Payment
Sale ID Account Due Ratio Rate Int & Prin
- ---------------------------------------------------------------------------------------------
ML668 10266122840 09/19/96 78.0 10.750 1,894.97
ML668 10266122922 08/25/96 89.1 12.650 150.59
ML668 10266122968 09/13/96 85.2 12.990 265.56
ML668 10266123061 09/07/96 80.0 10.250 512.57
ML668 10266123080 09/22/96 84.4 11.650 175.31
ML668 10266123180 09/01/96 85.0 11.500 471.36
ML668 10266123185 09/26/96 80.0 10.250 1,295.77
ML668 10266123190 09/01/96 89.6 12.000 240.03
ML668 10266123303 09/09/96 89.1 12.000 444.06
ML668 10266123344 09/24/96 70.0 10.240 294.29
ML668 10266123385 10/01/96 80.1 13.250 189.11
ML668 10266123398 09/05/96 73.0 12.390 402.32
ML668 10266123436 09/07/96 74.9 10.700 427.01
ML668 10266123529 09/26/96 90.0 11.240 978.27
ML668 10266123536 09/01/96 80.0 10.490 621.51
ML668 10266123540 09/01/96 77.6 10.250 987.50
ML668 10266123636 09/12/96 80.0 9.950 580.26
ML668 10266123719 09/26/96 72.1 10.500 748.79
ML668 10266123865 09/23/96 81.8 13.950 253.90
ML668 10266123880 09/26/96 84.9 11.500 245.32
ML668 10266124047 08/26/96 85.0 10.250 990.19
ML668 10266124078 09/12/96 85.0 12.990 438.67
ML668 10266124086 08/26/96 70.3 10.750 886.81
ML668 10266124132 09/12/96 89.9 11.650 303.27
ML668 10266124200 08/23/96 80.0 12.300 694.16
ML668 10266124236 09/14/96 84.8 9.950 471.02
ML668 10266124245 09/06/96 79.9 12.990 256.42
ML668 10266124271 11/25/96 10.1 10.990 134.10
ML668 10266124318 09/12/96 89.9 12.000 307.17
ML668 10266124434 10/01/96 45.4 10.250 519.91
ML668 10266124435 09/01/96 83.5 11.750 716.68
ML668 10266124602 09/12/96 80.0 10.750 455.10
ML668 10266124632 09/12/96 86.3 11.500 209.11
ML668 10266124734 09/07/96 72.1 12.750 181.08
ML668 10266124739 09/12/96 85.7 9.500 1,319.86
ML668 10266124751 09/05/96 78.9 13.990 215.63
ML668 10266124813 09/09/96 89.9 12.000 248.85
ML668 10266124828 09/02/96 89.9 12.900 486.74
ML668 10266124836 09/07/96 43.1 11.950 1,280.96
ML668 10266124842 09/07/96 89.9 12.050 317.69
ML668 10266124859 09/13/96 77.5 13.250 743.41
ML668 10266124864 09/05/96 80.0 13.800 963.31
ML668 10266124868 09/09/96 78.3 10.750 280.24
ML668 10266124874 09/16/96 70.0 11.340 753.14
ML668 10266124875 10/01/96 68.5 10.500 219.54
ML668 10266124914 09/01/96 84.7 12.990 328.79
ML668 10266124929 09/12/96 85.0 12.250 527.27
ML668 10266124956 09/01/96 90.0 11.500 686.27
ML668 10266124986 10/02/96 79.9 15.590 346.20
ML668 10266124991 09/05/96 75.1 13.750 460.25
ML668 10266125021 09/19/96 63.6 14.490 155.74
ML668 10266125096 10/01/96 48.0 9.000 539.84
ML668 10266125118 09/07/96 89.9 11.700 333.02
ML668 10266125177 09/24/96 85.0 10.890 390.82
ML668 10266125272 09/12/96 09.7 10.000 231.26
ML668 10266125286 09/12/96 89.9 11.500 411.64
ML668 10266125352 09/07/96 89.0 11.700 555.04
ML668 10266125403 09/13/96 73.2 11.250 417.51
ML668 10266125405 09/12/96 78.8 13.000 1,238.94
ML668 10266125417 09/12/96 83.2 11.000 170.49
ML668 10266125450 09/13/96 89.6 11.650 235.55
ML668 10266125558 08/26/96 80.0 13.800 1,879.85
</TABLE>
<PAGE>
Alliance Funding Company Page 23 9/16/96
A division of Superior Bank FSB
Sale Schedule
1996-3 Class 1 - Initial Pool of Fixed Rate Mortgages - Settlement 9/23/96
<TABLE>
<CAPTION>
Zip
Sale ID Account Name Address City State Code
- -----------------------------------------------------------------------------------------------------------------------------
<C> <C> <S> <C> <C> <C> <C>
ML668 10266125579 FOX ROY T 219 DUMONT ROAD WILMINGTON DE 19804
ML668 10266125602 HATZISTEFANOU JOHN 495 BELMIST COURT DUNEDIN FL 34698
ML668 10266125708 CHIANG YU-EN 8142 CRABAPPLE LANE GAITHERSBURG MD 20879
ML668 10266125710 REINEN JEFFREY W 18 GREENKNOLL DRIVE BROOKFIELD CT 06804
ML668 10266125728 ITZKOWITZ BARRY J 1111 HIDDEN LAKE DRIVE BUFFALO GROVE IL 60089
ML668 10266125757 PHILBIN PATRICIA 528 NORTH PAULINA CHICAGO IL 60622
ML668 10266125772 EVASHEVSKI MARION 1205 BROOKLYN AVE ANN ARBOR MI 48104
ML668 10266125825 PIETKA JEFFREY M 2402 GREAT OAKS DRIVE LINDENHURST IL 60046
ML668 10266125884 BORGMAN NORMAN E 172 EAST MIKADO DRIVE COLORADO SPRINGS CO 80919
ML668 10266125888 LEDEZMA ARTURO MEJIA 2628 REYNOLDS AVENUE NORTH LAS VEGAS NV 89030
ML668 10266125922 SMITH DARRYL C 5535 DEARBORN STREET DENVER CO 80239
ML668 10266126023 LEMONS STEVEN LYNN 630 WEST 200 SOUTH CLEARFIELD UT 84105
ML668 10266126107 LEWIS ELEANOR R 2408 MARLBOROUGH ROAD COLORADO SPRINGS CO 80909
ML668 10266126150 MCDONALD HUBERT 208 LANGDON STREET FAYETTEVILLE NC 28301
ML668 10266126159 BUSTAD RYAN W 660 S SIMLA DRIVE PUEBLO CO 81007
ML668 10266126274 WINKELSPECHT MICHAEL F 509 LAKE MEADE DR EAST BERLIN PA 17316
ML668 10266126313 YETTER BARRY LEE 7 SOUTH 4TH STREET STEELTON PA 17113
ML668 10266126370 OSNER SHARON M 4350 LONDON LANE COLORADO SPRINGS CO 80916
ML668 10266126390 FLORES ROSA L 2715 W. POTOMAC CHICAGO IL 60622
ML668 10266126444 MORRIS GEORGENA 4508 W CLEARVIEW DR BOISE ID 83703
ML668 10266126445 TRITTO STEVEN 117 BIRCH ACRES EAST STROUDSBURG PA 18301
ML668 10266126455 ROACH DELORES 604 KEYSTONE STREET GREENSBURG PA 15601
ML668 10266126486 GATTONI LUIS G 915 FIELD STREET LAKEWOOD CO 80215
ML668 10266126614 STRACHAN DUNCAN K 1601 WEST 400 SOUTH #45 SALT LAKE CITY UT 84104
ML668 10266126620 THOMPSON HARRY 1200 ARCH STREET NORRISTOWN PA 19401
ML668 10266126637 RICHARDSON DONNA S 7 HOLLY LANE ENFIELD CT 06082
ML668 10266126652 GUADAGNI JAMES E 2136 BRAMBLEWOOD DRIVE N CLEARWATER FL 34623
ML668 10266126717 RANDAZZO SALVATORE 162 FIRST STREET NEWBURGH NY 12550
ML668 10266126719 LAMBERT RAPHAEL 21475 MICHIGAN AVENUE PORT CHARLOTTE FL 33952
ML668 10266126771 LANTZ ROBERT P 1508 HOPEWELL AVENUE BALTIMORE MD 21221
ML668 10266126779 DURAN JUAN G 6825 OMAHA BLVD COLORADO SPRINGS CO 80915
ML668 10266126788 HUDSON THOMAS E 12 HARVARD ROAD GLEN BURNIE MD 21060
ML668 10266126795 BECHT HAROLD J 7660 IRVING STREET WESTMINSTER CO 80030
ML668 10266126912 YOUNGMAN SHARON L 7643 OAKHURST ROAD SEMINOLE FL 34646
ML668 10266127066 MITCHELL MARY LYNNE 768 SOUTH COLE COURT LAKEWOOD CO 80228
ML668 10266127115 HODGE JOHN ARTHUR 4940 BEECH STREET SHADY SIDE MD 20764
ML668 10266127147 CLARK JILL L 409 CARAMILLO ST E COLORADO SPRINGS CO 80907
ML668 10266127203 APODACA PATRICIA M 1840 JULIAN STREET DENVER CO 80204
ML668 10266127218 BARNES KEVIN V 4922 SOUTH BUSTER STREET SALT LAKE CITY UT 84118
ML668 10266127272 GOODPASTURE JOE D 1124 TUXEDO COURT CHARLOTTE NC 28211
ML668 10266127289 MILLER JED A 7773 STRAWBERRY DRIVE WEST JORDAN UT 84084
ML668 10266127357 AMER MOHAMMED E 1373 PARKERSVILLE ROAD KENNETT SQUARE PA 19348
ML668 10266127402 GROSS EARL B 713 CARROLL STREET BALTIMORE MD 21230
ML668 10266127553 HENDERSON CAROL J 2428 WEST PAULINE WAY WEST JORDAN UT 84088
ML668 10266127680 NEELEY GORDON ARIEL 1583 EAST GLEN ARBOR STREET SALT LAKE CITY UT 84105
ML668 10266127689 DUNWELL DON F 920 EAST ELLERBY AVENUE SALT LAKE CITY UT 84117
ML668 10266128095 DAVIS WILLIAM ROUTE 28A WEST SHOKAN NY 12494
ML668 10266128156 STONE DAVID P 6791 SOUTH 1775 EAST UINTAH UT 84405
-------------------------------------------
172 Sale Total
<CAPTION>
Principal Cut-off Date First
Balance at Principal Payment Maturity Rem
Sale ID Account Origination Balance Date Date Term
- ---------------------------------------------------------------------------------------------------------------------
<C> <C> <S> <C> <C> <C> <C>
ML668 10266125579 25,000.00 24,985.55 08/26/96 07/26/11 178.78
ML668 10266125602 30,300.00 30,300.00 09/13/96 08/13/11 179.38
ML668 10266125708 27,500.00 27,500.00 09/14/96 08/14/11 179.41
ML668 10266125710 52,000.00 52,000.00 09/01/96 08/01/11 179.00
ML668 10266125728 146,000.00 146,000.00 09/01/96 08/01/11 179.00
ML668 10266125757 37,000.00 36,907.26 09/01/96 08/01/11 179.00
ML668 10266125772 150,300.00 150,300.00 09/02/96 08/02/26 359.01
ML668 10266125825 19,000.00 18,674.82 09/01/96 08/01/11 179.00
ML668 10266125884 35,200.00 35,200.00 09/12/96 08/12/11 179.34
ML668 10266125888 15,582.00 15,582.00 09/01/96 08/01/11 179.00
ML668 10266125922 35,865.00 35,865.00 09/06/96 08/06/11 179.15
ML668 10266126023 24,000.00 24,000.00 09/01/96 08/01/16 239.00
ML668 10266126107 45,500.00 45,500.00 09/01/96 08/01/11 179.00
ML668 10266126150 40,500.00 40,500.00 09/07/96 08/07/16 239.18
ML668 10266126159 21,000.00 21,000.00 09/12/96 08/12/16 239.34
ML668 10266126274 44,400.00 44,400.00 09/07/96 08/07/16 239.18
ML668 10266126313 60,300.00 60,300.00 09/07/96 08/07/16 239.18
ML668 10266126370 22,000.00 22,000.00 09/13/96 08/13/11 179.38
ML668 10266126390 158,100.00 158,100.00 09/01/96 08/01/11 179.00
ML668 10266126444 19,659.00 19,659.00 09/01/96 08/01/11 179.00
ML668 10266126445 88,000.00 88,000.00 09/13/96 08/13/26 359.38
ML668 10266126455 70,400.00 70,400.00 09/13/96 08/13/16 239.38
ML668 10266126486 31,057.00 31,057.00 09/07/96 08/07/11 179.18
ML668 10266126614 30,975.00 30,975.00 09/06/96 08/06/11 179.15
ML668 10266126620 39,000.00 39,000.00 09/07/96 08/07/11 179.18
ML668 10266126637 65,000.00 65,000.00 09/14/96 08/14/11 179.41
ML668 10266126652 11,200.00 11,200.00 09/13/96 08/13/11 179.38
ML668 10266126717 76,900.00 76,900.00 09/05/96 08/05/11 179.11
ML668 10266126719 48,200.00 48,200.00 09/12/96 08/12/16 239.34
ML668 10266126771 73,350.00 73,350.00 09/13/96 08/13/26 359.38
ML668 10266126779 10,500.00 10,500.00 09/12/96 08/12/11 179.34
ML668 10266126788 15,000.00 15,000.00 09/08/96 08/08/11 179.21
ML668 10266126795 18,400.00 18,400.00 09/12/96 08/12/11 179.34
ML668 10266126912 170,000.00 170,000.00 09/12/96 08/12/16 239.34
ML668 10266127066 33,000.00 33,000.00 09/09/96 08/09/11 179.24
ML668 10266127115 21,100.00 21,100.00 09/09/96 08/09/11 179.24
ML668 10266127147 25,000.00 25,000.00 09/12/96 08/12/11 179.34
ML668 10266127203 108,000.00 108,000.00 09/06/96 08/06/26 359.15
ML668 10266127218 33,000.00 33,000.00 09/05/96 08/05/16 239.11
ML668 10266127272 53,134.00 53,134.00 09/12/96 08/12/11 179.34
ML668 10266127289 52,189.00 52,189.00 09/06/96 08/06/11 179.15
ML668 10266127357 76,096.00 76,096.00 09/13/96 08/13/11 179.38
ML668 10266127402 42,840.00 42,840.00 09/09/96 08/09/26 359.24
ML668 10266127553 16,529.00 16,529.00 09/01/96 08/01/11 179.00
ML668 10266127680 85,500.00 85,500.00 09/02/96 08/02/11 179.01
ML668 10266127689 38,700.00 38,700.00 09/01/96 08/01/11 179.00
ML668 10266128095 14,500.00 14,483.25 08/01/96 07/01/16 238.00
ML668 10266128156 39,000.00 39,000.00 09/06/96 08/06/11 179.15
--------------------------------------------------------- -------------
172 10,412,163.00 10,406,982.18 225.30
<CAPTION>
Original Current Scheduled
Date LTV Mortgage Payment
Sale ID Account Due Ratio Rate Int & Prin
- ---------------------------------------------------------------------------------------------
ML668 10266125579 09/26/96 84.4 12.900 314.67
ML668 10266125602 09/13/96 84.9 12.500 373.45
ML668 10266125708 09/14/96 74.2 12.250 334.48
ML668 10266125710 09/01/96 89.8 11.700 614.09
ML668 10266125728 09/01/96 47.8 9.740 1,253.29
ML668 10266125757 10/01/96 38.9 11.750 438.13
ML668 10266125772 09/02/96 90.0 11.500 1,488.41
ML668 10266125825 11/01/96 87.9 11.000 215.95
ML668 10266125884 09/12/96 87.4 11.750 416.81
ML668 10266125888 09/01/96 70.0 12.490 191.95
ML668 10266125922 09/06/96 85.0 12.750 389.74
ML668 10266126023 09/01/96 87.7 12.600 274.37
ML668 10266126107 09/01/96 35.0 10.900 514.30
ML668 10266126150 09/07/96 90.0 11.150 422.18
ML668 10266126159 09/12/96 82.7 10.500 209.66
ML668 10266126274 09/07/96 89.9 11.750 481.17
ML668 10266126313 09/07/96 90.0 10.750 612.18
ML668 10266126370 09/13/96 75.3 14.500 300.41
ML668 10266126390 09/01/96 85.0 10.650 1,463.96
ML668 10266126444 09/01/96 85.0 11.500 229.65
ML668 10266126445 09/13/96 85.4 10.200 785.30
ML668 10266126455 09/13/96 80.0 13.700 860.14
ML668 10266126486 09/07/96 90.0 12.250 377.75
ML668 10266126614 09/06/96 75.0 9.750 266.12
ML668 10266126620 09/07/96 50.0 11.750 393.67
ML668 10266126637 09/14/96 84.1 14.190 779.95
ML668 10266126652 09/13/96 66.5 10.700 125.20
ML668 10266126717 09/05/96 69.9 10.950 729.43
ML668 10266126719 09/12/96 79.9 10.700 487.71
ML668 10266126771 09/13/96 90.0 11.450 723.58
ML668 10266126779 09/12/96 62.6 11.250 121.00
ML668 10266126788 09/08/96 90.0 11.950 179.54
ML668 10266126795 09/12/96 90.0 12.000 220.83
ML668 10266126912 09/12/96 57.6 10.700 1,720.15
ML668 10266127066 09/09/96 78.7 14.000 391.01
ML668 10266127115 09/09/96 79.9 13.990 280.86
ML668 10266127147 09/12/96 89.4 11.750 252.35
ML668 10266127203 09/06/96 90.0 11.750 1,090.16
ML668 10266127218 09/05/96 79.9 13.500 398.43
ML668 10266127272 09/12/96 90.0 11.650 532.27
ML668 10266127289 09/06/96 84.9 12.990 576.91
ML668 10266127357 09/13/96 80.7 11.750 768.12
ML668 10266127402 09/09/96 70.0 9.950 374.37
ML668 10266127553 09/01/96 79.8 15.140 232.92
ML668 10266127680 09/02/96 86.5 12.900 939.12
ML668 10266127689 09/01/96 83.6 13.700 449.37
ML668 10266128095 09/01/96 70.0 11.000 149.67
ML668 10266128156 09/06/96 79.7 12.650 484.50
------------------ -------------------------------------------
172 77.1 11.417 108,875.88
</TABLE>
<PAGE>
Alliance Funding Company Page 24 9/16/96
A division of Superior Bank FSB
Sale Schedule
1996-3 Class 1 - Initial Pool of Fixed Rate Mortgages - Settlement 9/23/96
<TABLE>
<CAPTION>
Zip
Sale ID Account Name Address City State Code
- -----------------------------------------------------------------------------------------------------------------------------
<C> <C> <S> <C> <C> <C> <C>
ML669 10266113134 SCOTT VINCENT C 1136 WASHINGTON STREET DENVER CO 80203
ML669 10266115579 BECKMAN THEODORE 6914 W WESCOTT DRIVE GLENDALE AZ 85308
ML669 10266115808 COX JOHN B 409 FIELDSTONE DRIVE MONROEVILLE PA 15146
ML669 10266117893 KRAMER STEVEN D 1836 ORCHARD STREET DES PLAINES IL 60018
ML669 10266117992 PLANT JOHN 93 OCEAN AVENUE AMITYVILLE NY 11701
ML669 10266118323 JORDAN DONALD L 430 MEETING HOUSE ROAD MAPLE GLEN PA 19002
ML669 10266118392 MABILLE CARMEN 256 LINCOLN BOULEVARD EMERSON NJ 07630
ML669 10266118590 GIFFORD JACK 3734 E RANCHO DRIVE PARADISE VALLEY AZ 85253
ML669 10266118732 HILL MILDRED 31-30 103RD STREET EAST ELMHURST NY 11369
ML669 10266118760 RENIER JOSEPH M 701 N CIRCLE D WAY TUCSON AZ 85748
ML669 10266118992 JORDAN CHARLES R 619 VERNON STREET MEDIA PA 19063
ML669 10266119078 CORTEZ MANUEL 598 VERDUCCI DRIVE DALY CITY CA 94015
ML669 10266119282 ZAZUETA PAULA S 1636 E WHITTON AVENUE PHOENIX AZ 85016
ML669 10266119466 WALDEN JOHN W 4152 N 49TH WAY PHOENIX AZ 85018
ML669 10266119591 TAUBER REFAEL 3733 NORTH TORREY PINES DRIVE LAS VEGAS NV 89108
ML669 10266119599 LYON COREY D 4621 NORTH 89TH DRIVE PHOENIX AZ 85037
ML669 10266119602 FLEISHER RODNEY J 15 CHESNEY COURT SPARKS NV 89434
ML669 10266119649 SCHWARTZ WILLIAM B 334 WEST 1ST STREET WEST ISLIP NY 11795
ML669 10266119940 VOGT DENNIS G 206 WEAVER CARY IL 60013
ML669 10266120218 SOUSA DONALD E 3111 NORMIL TERRACE MEDFORD OR 97504
ML669 10266120291 ANDERSON GLORIA 241 JOLIET ST WEST CHICAGO IL 60185
ML669 10266120407 BURLEIGH LINDA L 2151 W ORANGEWOOD AVE PHOENIX AZ 85021
ML669 10266120555 HARKIN PATRICIA A 7 WOODCREEK ROAD BROOKFIELD CT 06804
ML669 10266120996 PLANCON EDWARD F JR 5 KELSEYTOWN ROAD KILLINGWORTH CT 06419
ML669 10266121070 HULL ROBERT 987 ORLANDO STREET KINGSTON NY 12401
ML669 10266121093 BAUM BRYAN 4315 SOUTH 4850 WEST WEST VALLEY CITY UT 84120
ML669 10266121114 GARZA JOSEPH R 2002 NE 86TH CIRCLE VANCOUVER WA 98665
ML669 10266121608 WILLIAMSON DONALD 3031 PASADA ROAD CAMERON PARK CA 95682
ML669 10266121631 SATCHELL GLORIA D 6702 ELDRIDGE STREET LANDOVER MD 20784
ML669 10266121717 COPENHAUER KRISTY L 2120 N. MARKET KOKOMO IN 46901
ML669 10266121781 CLEMENS THOMAS E 10015 E VIA DEL FANDANGO TUCSON AZ 85747
ML669 10266121825 QUINTANA EDWARD R 20 REED PLACE LONGMONT CO 80501
ML669 10266121942 LEONARD CHARLES H 120 ALBA STREET E VENICE FL 34285
ML669 10266121949 KLEMENT RICK L 2852 S CHEROKEE ST ENGLEWOOD CO 80110
ML669 10266122218 WILLIAMS THOMAS WAYNE 5964 W LONE CACTUS DR GLENDALE AZ 85308
ML669 10266122566 ANDERSON VIOLA V 1416 LINCOLN PLACE BROOKLYN NY 11213
ML669 10266122653 DOMAGATA ROBERT P 28505 LITTLE BIG HORN DRIVE EVERGREEN CO 80439
ML669 10266122864 HUTCHISON JANE ANNE 1527 NORTH ROYER STREET COLORADO SPRINGS CO 80907
ML669 10266123088 LEUNING ELDON L 19222 89TH AVENUE NORTHEAST BOTHELL WA 98011
ML669 10266123090 JORDAN GLENN 5133 W MONTE CRISTO AVE GLENDALE AZ 85306
ML669 10266123103 GOLDEN MATTHEW C 6849 E PASADENA AVENUE PARADISE VALLEY AZ 85253
ML669 10266123166 HUIE BING NON 205 SW JEFFERSON STREET SHERIDAN OR 97378
ML669 10266123534 CROSS CAROL J 1525 RIDGELAND AVENUE BERWYN IL 60402
ML669 10266123559 DAVIS RICHARD E JR 3305 W PIERSON ROAD FLINT MI 48504
ML669 10266123619 KELLY HENRY F 2500 MONACO PARKWAY DENVER CO 80207
ML669 10266123671 MARTINEZ ONEIDA 1894 DALY AVENUE BRONX NY 10460
ML669 10266123691 BLANCATO JR ERNEST GUY 7014 87TH STREET SW TACOMA WA 98499
ML669 10266123742 ROSELLI FRED D 27 PETTIT AVENUE SOUTH RIVER NJ 08882
ML669 10266123763 MUNROE DRUSILLA A 242 HIGH STREET NAUGATUCK CT 06770
ML669 10266123851 HIATT ROBERT E 232 LONGFELLOW DRIVE COLORADO SPRINGS CO 80910
ML669 10266123885 CLARK GENEVA E 3045 WEST LEXINGTON CHICAGO IL 60612
ML669 10266124011 CIARAMELLA ANN 45 PENNSYLVANIA AVENUE EAST HAVEN CT 06512
ML669 10266124060 TREVORROW EDWIN G 654 MALIBU DRIVE SE LACEY WA 98503
ML669 10266124072 WILLIAMS MICHAEL LEE 2459 EAST NANTUCKET DRIVE SALT LAKE CITY UT 84121
ML669 10266124184 TODARO ANGELO 234 MARK TWAIN LANE ROTONDA WEST FL 33947
ML669 10266124198 SIMOSKEVICH CYNTHIA FIRST STREET MONROE NY 10950
ML669 10266124293 PERADOZA SHEILA A 4203 HANWELL ROAD RANDALLSTOWN MD 21133
ML669 10266124315 MILLER ELMER M 4478 FLEMING ROAD HORNTOWN VA 23395
ML669 10266124520 PEDDICORD KIRK 3429 SE JOHNSON CREEK BLVD PORTLAND OR 97222
ML669 10266124630 THOMPSON EDWARD D 7020 WEST 28TH PLACE WHEATRIDGE CO 80215
ML669 10266124774 COTTON KAREN S 55 PHARR ROAD #206B ATLANTA GA 30305
ML669 10266124804 TRUJILLO ALFREDO H 16252 NORTH 38TH WAY PHOENIX AZ 85032
<CAPTION>
Principal Cut-off Date First
Balance at Principal Payment Maturity Rem
Sale ID Account Origination Balance Date Date Term
- ---------------------------------------------------------------------------------------------------------------------
<C> <C> <S> <C> <C> <C> <C>
ML669 10266113134 18,000.00 18,000.00 07/19/96 06/19/11 177.57
ML669 10266115579 15,000.00 14,906.67 07/14/96 06/14/11 177.40
ML669 10266115808 76,500.00 76,500.00 09/15/96 08/15/26 359.44
ML669 10266117893 92,000.00 92,000.00 07/12/96 06/12/16 237.34
ML669 10266117992 189,750.00 189,750.00 09/21/96 08/21/11 179.64
ML669 10266118323 189,000.00 189,000.00 09/15/96 08/15/11 179.44
ML669 10266118392 24,500.00 24,215.94 07/28/96 06/28/06 117.86
ML669 10266118590 124,332.00 124,332.00 08/01/96 07/01/11 178.00
ML669 10266118732 76,000.00 76,000.00 09/16/96 08/16/16 239.47
ML669 10266118760 25,000.00 25,000.00 09/01/96 08/01/11 179.00
ML669 10266118992 40,000.00 39,908.85 09/01/96 08/01/11 179.00
ML669 10266119078 30,984.00 30,984.00 08/10/96 07/10/11 178.26
ML669 10266119282 17,508.00 17,508.00 09/01/96 08/01/11 179.00
ML669 10266119466 432,800.00 432,491.37 07/26/96 06/26/11 177.80
ML669 10266119591 35,000.00 34,961.95 09/01/96 08/01/11 179.00
ML669 10266119599 15,000.00 15,000.00 09/01/96 08/01/11 179.00
ML669 10266119602 19,000.00 18,936.50 07/14/96 06/14/11 177.40
ML669 10266119649 32,000.00 32,000.00 08/02/96 07/02/11 177.99
ML669 10266119940 112,500.00 112,500.00 07/10/96 06/10/26 357.27
ML669 10266120218 203,150.00 203,150.00 07/28/96 06/28/11 177.86
ML669 10266120291 60,000.00 60,000.00 09/16/96 08/16/16 239.47
ML669 10266120407 17,000.00 17,000.00 08/03/96 07/03/11 178.03
ML669 10266120555 160,800.00 160,577.86 08/26/96 07/26/11 178.78
ML669 10266120996 32,500.00 32,450.12 08/29/96 07/29/11 178.88
ML669 10266121070 50,000.00 49,769.59 07/26/96 06/26/16 237.80
ML669 10266121093 50,000.00 50,000.00 09/02/96 08/02/11 179.01
ML669 10266121114 20,289.00 20,289.00 09/01/96 08/01/11 179.00
ML669 10266121608 59,500.00 59,479.16 07/27/96 06/27/11 177.83
ML669 10266121631 104,000.00 104,000.00 09/15/96 08/15/11 179.44
ML669 10266121717 35,200.00 35,200.00 09/05/96 08/05/26 359.11
ML669 10266121781 16,050.00 16,050.00 08/24/96 07/24/11 178.72
ML669 10266121825 37,000.00 37,000.00 09/08/96 08/08/11 179.21
ML669 10266121942 43,000.00 43,000.00 09/19/96 08/19/11 179.57
ML669 10266121949 20,000.00 19,949.47 09/01/96 08/01/11 179.00
ML669 10266122218 21,500.00 21,500.00 09/01/96 08/01/11 179.00
ML669 10266122566 111,900.00 111,900.00 09/05/96 08/05/11 179.11
ML669 10266122653 36,000.00 36,000.00 09/14/96 08/14/11 179.41
ML669 10266122864 45,000.00 45,000.00 09/16/96 08/16/11 179.47
ML669 10266123088 43,912.00 43,912.00 09/05/96 08/05/11 179.11
ML669 10266123090 31,500.00 31,500.00 09/01/96 08/01/11 179.00
ML669 10266123103 43,790.00 43,790.00 09/01/96 08/01/11 179.00
ML669 10266123166 87,200.00 87,200.00 09/16/96 08/16/11 179.47
ML669 10266123534 87,500.00 87,500.00 09/01/96 08/01/16 239.00
ML669 10266123559 27,500.00 27,500.00 09/09/96 08/09/16 239.24
ML669 10266123619 184,000.00 184,000.00 09/13/96 08/13/11 179.38
ML669 10266123671 157,500.00 157,500.00 08/16/96 07/16/26 358.45
ML669 10266123691 23,650.00 23,650.00 09/01/96 08/01/11 179.00
ML669 10266123742 184,000.00 184,000.00 09/19/96 08/19/11 179.57
ML669 10266123763 75,000.00 75,000.00 09/05/96 08/05/11 179.11
ML669 10266123851 68,000.00 68,000.00 09/14/96 08/14/26 359.41
ML669 10266123885 39,800.00 39,800.00 09/05/96 08/05/11 179.11
ML669 10266124011 40,000.00 39,904.00 09/02/96 08/02/11 179.01
ML669 10266124060 13,494.00 13,494.00 09/01/96 08/01/11 179.00
ML669 10266124072 22,700.00 22,700.00 09/14/96 08/14/11 179.41
ML669 10266124184 86,400.00 86,400.00 09/15/96 08/15/16 239.44
ML669 10266124198 52,000.00 52,000.00 09/12/96 08/12/11 179.34
ML669 10266124293 40,200.00 40,200.00 09/16/96 08/16/11 179.47
ML669 10266124315 45,600.00 45,600.00 09/08/96 08/08/11 179.21
ML669 10266124520 16,555.00 16,555.00 09/01/96 08/01/11 179.00
ML669 10266124630 120,750.00 120,750.00 09/13/96 08/13/26 359.38
ML669 10266124774 27,300.00 27,292.51 08/10/96 07/10/11 178.26
ML669 10266124804 133,039.00 133,039.00 08/26/96 07/26/26 358.78
<CAPTION>
Original Current Scheduled
Date LTV Mortgage Payment
Sale ID Account Due Ratio Rate Int & Prin
- ---------------------------------------------------------------------------------------------
ML669 10266113134 09/19/96 75.2 12.950 227.15
ML669 10266115579 09/14/96 73.7 15.190 211.89
ML669 10266115808 09/15/96 85.9 10.990 727.95
ML669 10266117893 08/12/96 80.0 13.490 1,110.12
ML669 10266117992 09/21/96 75.0 11.990 1,950.33
ML669 10266118323 09/15/96 74.1 11.990 1,942.62
ML669 10266118392 09/28/96 90.0 11.400 343.06
ML669 10266118590 09/01/96 74.8 11.850 1,264.56
ML669 10266118732 09/16/96 35.3 9.000 683.79
ML669 10266118760 09/01/96 72.8 13.990 332.77
ML669 10266118992 10/01/96 80.0 12.450 425.35
ML669 10266119078 08/10/96 90.0 11.990 371.66
ML669 10266119282 09/01/96 81.2 13.240 224.29
ML669 10266119466 09/26/96 79.9 10.700 4,023.85
ML669 10266119591 10/01/96 78.8 11.490 346.33
ML669 10266119599 09/01/96 79.9 13.990 199.66
ML669 10266119602 09/14/96 83.1 12.700 236.66
ML669 10266119649 09/02/96 79.2 11.950 383.03
ML669 10266119940 08/10/96 90.0 11.150 1,084.13
ML669 10266120218 08/28/96 85.0 13.200 2,279.05
ML669 10266120291 09/16/96 52.1 11.350 633.67
ML669 10266120407 09/03/96 78.5 13.350 219.02
ML669 10266120555 09/26/96 80.0 9.500 1,352.09
ML669 10266120996 09/29/96 89.7 11.800 385.88
ML669 10266121070 09/26/96 79.3 9.500 466.07
ML669 10266121093 09/02/96 48.0 13.350 566.81
ML669 10266121114 09/01/96 84.9 13.500 263.42
ML669 10266121608 09/27/96 84.9 13.550 683.86
ML669 10266121631 09/15/96 80.0 12.850 1,138.27
ML669 10266121717 09/05/96 80.0 12.850 385.26
ML669 10266121781 08/24/96 89.9 11.650 189.03
ML669 10266121825 09/08/96 84.3 11.650 435.77
ML669 10266121942 09/19/96 45.2 9.700 454.22
ML669 10266121949 10/01/96 82.8 11.650 235.55
ML669 10266122218 09/01/96 88.0 11.250 247.75
ML669 10266122566 09/05/96 69.9 9.950 1,199.06
ML669 10266122653 09/14/96 53.6 12.750 449.58
ML669 10266122864 09/16/96 89.8 12.000 462.88
ML669 10266123088 09/05/96 90.0 13.000 485.75
ML669 10266123090 09/01/96 78.1 11.490 367.78
ML669 10266123103 09/01/96 83.9 12.990 484.06
ML669 10266123166 09/16/96 80.0 10.990 829.77
ML669 10266123534 09/01/96 73.5 11.990 962.84
ML669 10266123559 09/09/96 83.3 10.000 265.38
ML669 10266123619 09/13/96 73.6 10.990 1,750.88
ML669 10266123671 09/16/96 85.1 13.250 1,773.09
ML669 10266123691 09/01/96 83.6 13.700 310.20
ML669 10266123742 09/19/96 89.7 10.990 1,750.88
ML669 10266123763 09/05/96 75.0 11.990 770.88
ML669 10266123851 09/14/96 80.0 13.250 765.53
ML669 10266123885 09/05/96 40.6 9.750 421.63
ML669 10266124011 10/02/96 30.7 12.500 493.01
ML669 10266124060 09/01/96 73.7 13.490 175.11
ML669 10266124072 09/14/96 84.9 12.500 279.78
ML669 10266124184 09/15/96 80.0 10.990 891.22
ML669 10266124198 09/12/96 43.3 11.490 514.55
ML669 10266124293 09/16/96 89.5 12.000 482.47
ML669 10266124315 09/08/96 78.6 13.750 531.29
ML669 10266124520 09/01/96 74.8 12.490 203.94
ML669 10266124630 09/13/96 69.0 10.990 1,149.02
ML669 10266124774 09/10/96 63.4 12.190 284.81
ML669 10266124804 09/26/96 79.6 11.490 1,316.46
</TABLE>
<PAGE>
Alliance Funding Company Page 25 9/16/96
A division of Superior Bank FSB
Sale Schedule
1996-3 Class 1 - Initial Pool of Fixed Rate Mortgages - Settlement 9/23/96
<TABLE>
<CAPTION>
Zip
Sale ID Account Name Address City State Code
- -----------------------------------------------------------------------------------------------------------------------------
<C> <C> <S> <C> <C> <C> <C>
ML669 10266124857 HENRY GEORGE A 4520 E HIDALGO AVENUE PHOENIX AZ 85040
ML669 10266124861 HANSEN JOHN A 749 NORTH 800 WEST WEST BOUNTIFUL UT 84010
ML669 10266124930 BYRD HENRY R 346-1 ROUTE 1 HAWTHORNE FL 32640
ML669 10266124933 SCHMID EVE LOUISE 120 CARBON STREET OAK CREEK CO 80467
ML669 10266124972 SMITH JASON W 425 WHITE STREET WEISSPORT PA 18235
ML669 10266125072 HARRIS LAYNE A 95 SOUTH 100 EAST NEPHI UT 84648
ML669 10266125221 WHITAKER WILLIAM E 615 ROANOKE STREET SCOTLAND NECK NC 27874
ML669 10266125266 CHAPMAN WILLIAM M 1860 VAN BUREN CIRCLE MOUNTAIN VIEW CA 94040
ML669 10266125269 KANE LISANNE A 527 TAMARA CIRCLE NEWARK DE 19711
ML669 10266125333 BHARAT NAVARRO P 2900 ROSE VALLEY DRIVE FORT WASHINGTON MD 20744
ML669 10266125355 MARCELLO FRANK D 8225 GREINER ROAD WILLIAMSVILLE NY 14221
ML669 10266125370 LAWRENCE MELVIN R 3611 PONTIAC STREET DENVER CO 80207
ML669 10266125387 RODGERS FLORENE 2940 STEELE STREET DENVER CO 80205
ML669 10266125391 KELLY HAROLD 1152 EAST 37TH STREET BROOKLYN NY 11210
ML669 10266125397 RICHARDS KIMELLA L 141 LINCOLN PLACE BROOKLYN NY 11217
ML669 10266125668 HATCH JEFFREY LEE 864 WEST 1175 SOUTH WOODS CROSS UT 84087
ML669 10266125704 JONES FLAVIO T 15730 BARNESVILLE ROAD BOYDS MD 20841
ML669 10266125869 CRAIG DEBORAH 407 35TH STREET MC KEESPORT PA 15132
ML669 10266125945 BEARDEN GLENN C 735 FERNWOOD DRIVE BROOKSVILLE FL 34601
ML669 10266125992 STEELE JEFFREY S 11730 TIMBERLINE CIRCLE FORT MYERS FL 33912
ML669 10266126030 SMITH CHRISTOPHER JOHN 129 IRONWEED DRIVE PUEBLO CO 81001
ML669 10266126168 HERRERA LORENE CHRISTINE 3212 FAIRFIELD PUEBLO CO 81005
ML669 10266126383 LAWTON JAMES H 8401 SHAGBARK COURT WOODRIDGE IL 60517
ML669 10266126384 AUGUSTYN THADDEUS J 28 W 751 DONALD AVENUE WEST CHICAGO IL 60185
ML669 10266126489 BLOUNT TOM 375 GRAY STREET LAKEWOOD CO 80226
ML669 10266126601 JONES JAMES G JR 633 BESSEMER CIRCLE FAYETTEVILLE NC 28301
ML669 10266126610 DUMONT JACQUELYN A 7820 MONA COURT DENVER CO 80221
ML669 10266126611 BROUGHAL PETER S 7860 SE CLACKAMAS ROAD MILWAUKIE OR 97267
ML669 10266126647 BIELFELDT SHERRY A 7557 NORTH DREAMY DRAW DR #21 PHOENIX AZ 85020
ML669 10266126763 CULBERTSON THEODORE R 307 BAY STREET TARPON SPRINGS FL 34689
ML669 10266126838 GIBSON TERRY L 10480 OWENS STREET WESTMINSTER CO 80021
ML669 10266126855 KELLY RONALD B 963 VIGILANTE AVENUE BAILEY CO 80421
ML669 10266126884 PLUMMER ROBERT F 5356 WENDY ROAD SYKESVILLE MD 21784
ML669 10266126913 MARSICOVETERE JOAN P 910 OLYMPIA ROAD VENICE FL 34293
ML669 10266126918 HOSCHAR KIMBERLY A 1641 MORENO AVENUE FORT MYERS FL 33901
ML669 10266126919 HOSCHAR KIMBERLY A 1470 MORENO AVENUE FORT MYERS FL 33901
ML669 10266126975 BETTINGER ERIC M 436 SOUTH ROUTT WAY LAKEWOOD CO 80226
ML669 10266127033 FINK CARROLL C 2574 MARSTON ROAD NEW WINDSOR MD 21776
ML669 10266127154 KOSTENSKI RICHARD M 9971 WEST 143RD PLACE ORLAND PARK IL 60462
ML669 10266127204 STRONG KAREN 305 NE 67TH AVENUE PORTLAND OR 97213
ML669 10266127261 DAVIS CHARLES F 3208 BYRD CIRCLE HOPE MILLS NC 28348
ML669 10266127274 WEBB WILLIAM H JR 119 E ASH AVENUE CASA GRANDE AZ 85222
ML669 10266127383 VERCAMMEN TERRY L 1409 HANOVER STREET AURORA CO 80010
ML669 10266127421 YUET RICK PAK CHEUNG 223 97TH STREET SE EVERETT WA 98208
ML669 10266127424 HELMICK ALLEN R 7916 S PENNSYLVANIA CT LITTLETON CO 80122
ML669 10266127552 MCCALMON DAVID 7773 WEST 3060 SOUTH MAGNA UT 84044
ML669 10266127639 TORREGROSA VICTOR 776 GRAND TERRACE AVENUE BALDWIN NY 11510
ML669 10266127646 BORDEN EUGENE MERRILL 202 24TH STREET E BRADENTON FL 34208
ML669 10266127827 SHOELL JEFFERY D 1507 SOUTH 630 EAST OREM UT 84058
ML669 10266127845 BLAKE DONALD W 5743 ILLINOIS AVENUE NEW PORT RICHEY FL 34652
ML669 10266127853 BERTERMANN MARK CHARLES 11616 SE 35TH AVENUE MILWAUKIE OR 97222
ML669 10266127969 FREEMAN JUANITA 110 TIMBER LANE LEVITTOWN PA 19054
ML669 10266127987 CHISM EDDIE D 533 WICONISCO STREET HARRISBURG PA 17110
ML669 10266128024 WHITE DEBORAH J 1572 WEST 1410 NORTH FARMINGTON UT 84025
ML669 10266128134 UNSWORTH RUEL C 5966 SOUTH TARRAGON COURT SALT LAKE CITY UT 84118
ML669 10266128139 JOHNSON MICHAEL D 4927 WEST ASPEN PARK DRIVE WEST JORDAN UT 84084
ML669 10266128150 HAMILTON GREGG 1009 SOUTH 1100 EAST SALT LAKE CITY UT 84105
ML669 10266128158 PAICE JIM C 2579 WEST HARVEST LANE WEST JORDAN UT 84084
ML669 10266128309 ROESCH JOHN F 10060 SOUTH ABERDEEN CIRCLE SOUTH JORDAN UT 84095
ML669 10266128344 BOWLES JEFFREY K 921 SOUTH CONNER STREET SALT LAKE CITY UT 84108
-------------------------------------------
122 Sale Total
<CAPTION>
Principal Cut-off Date First
Balance at Principal Payment Maturity Rem
Sale ID Account Origination Balance Date Date Term
- ---------------------------------------------------------------------------------------------------------------------
<C> <C> <S> <C> <C> <C> <C>
ML669 10266124857 24,000.00 23,969.80 08/17/96 07/17/16 238.49
ML669 10266124861 33,500.00 33,500.00 09/06/96 08/06/11 179.15
ML669 10266124930 19,000.00 19,000.00 09/14/96 08/14/11 179.41
ML669 10266124933 38,500.00 38,500.00 09/14/96 08/14/11 179.41
ML669 10266124972 32,400.00 32,400.00 09/20/96 08/20/11 179.61
ML669 10266125072 33,093.00 33,093.00 09/19/96 08/19/11 179.57
ML669 10266125221 32,800.00 32,800.00 09/20/96 08/20/06 119.61
ML669 10266125266 477,600.00 477,600.00 09/01/96 08/01/11 179.00
ML669 10266125269 20,500.00 20,500.00 09/19/96 08/19/11 179.57
ML669 10266125333 36,000.00 36,000.00 09/14/96 08/14/11 179.41
ML669 10266125355 122,000.00 122,000.00 09/01/96 08/01/16 239.00
ML669 10266125370 51,500.00 51,500.00 09/14/96 08/14/26 359.41
ML669 10266125387 31,400.00 31,400.00 09/13/96 08/13/11 179.38
ML669 10266125391 136,000.00 136,000.00 09/15/96 08/15/11 179.44
ML669 10266125397 58,000.00 58,000.00 09/16/96 08/16/11 179.47
ML669 10266125668 34,000.00 34,000.00 09/19/96 08/19/11 179.57
ML669 10266125704 50,000.00 50,000.00 09/15/96 08/15/11 179.44
ML669 10266125869 25,000.00 25,000.00 09/19/96 08/19/16 239.57
ML669 10266125945 41,600.00 41,600.00 09/15/96 08/15/11 179.44
ML669 10266125992 18,650.00 18,650.00 09/14/96 08/14/06 119.41
ML669 10266126030 60,520.00 60,520.00 09/16/96 08/16/16 239.47
ML669 10266126168 13,600.00 13,600.00 09/12/96 08/12/16 239.34
ML669 10266126383 93,400.00 93,400.00 09/14/96 08/14/16 239.41
ML669 10266126384 37,000.00 36,764.50 09/14/96 08/14/16 239.41
ML669 10266126489 56,723.00 56,723.00 09/14/96 08/14/11 179.41
ML669 10266126601 74,100.00 74,100.00 09/16/96 08/16/06 119.47
ML669 10266126610 24,840.00 24,840.00 09/14/96 08/14/16 239.41
ML669 10266126611 140,000.00 140,000.00 09/12/96 08/12/11 179.34
ML669 10266126647 40,235.00 40,235.00 09/14/96 08/14/11 179.41
ML669 10266126763 106,250.00 106,250.00 09/09/96 08/09/26 359.24
ML669 10266126838 32,500.00 32,500.00 09/19/96 08/19/11 179.57
ML669 10266126855 33,600.00 33,600.00 09/16/96 08/16/11 179.47
ML669 10266126884 13,000.00 13,000.00 09/20/96 08/20/11 179.61
ML669 10266126913 10,000.00 10,000.00 09/12/96 08/12/11 179.34
ML669 10266126918 18,200.00 18,200.00 09/14/96 08/14/11 179.41
ML669 10266126919 25,800.00 25,800.00 09/14/96 08/14/11 179.41
ML669 10266126975 17,260.00 17,260.00 09/19/96 08/19/11 179.57
ML669 10266127033 37,825.00 37,825.00 09/14/96 08/14/11 179.41
ML669 10266127154 51,000.00 51,000.00 09/19/96 08/19/11 179.57
ML669 10266127204 31,328.00 31,328.00 09/16/96 08/16/11 179.47
ML669 10266127261 18,000.00 18,000.00 09/19/96 08/19/11 179.57
ML669 10266127274 10,500.00 10,500.00 09/12/96 08/12/11 179.34
ML669 10266127383 30,000.00 30,000.00 09/14/96 08/14/11 179.41
ML669 10266127421 29,656.00 29,656.00 09/07/96 08/07/16 239.18
ML669 10266127424 45,650.00 45,650.00 09/14/96 08/14/11 179.41
ML669 10266127552 15,000.00 14,959.60 09/01/96 08/01/11 179.00
ML669 10266127639 120,000.00 120,000.00 09/12/96 08/12/11 179.34
ML669 10266127646 23,624.00 23,624.00 09/16/96 08/16/11 179.47
ML669 10266127827 22,250.00 22,250.00 09/02/96 08/02/11 179.01
ML669 10266127845 21,700.00 21,700.00 09/14/96 08/14/16 239.41
ML669 10266127853 31,250.00 31,250.00 09/12/96 08/12/11 179.34
ML669 10266127969 72,250.00 72,250.00 09/21/96 08/21/11 179.64
ML669 10266127987 15,500.00 15,500.00 09/14/96 08/14/11 179.41
ML669 10266128024 40,000.00 40,000.00 09/16/96 08/16/11 179.47
ML669 10266128134 12,900.00 12,900.00 09/06/96 08/06/11 179.15
ML669 10266128139 30,000.00 30,000.00 09/06/96 08/06/11 179.15
ML669 10266128150 16,000.00 15,877.50 09/06/96 08/06/11 179.15
ML669 10266128158 27,332.00 27,332.00 09/06/96 08/06/11 179.15
ML669 10266128309 35,000.00 35,000.00 09/16/96 08/16/11 179.47
ML669 10266128344 71,000.00 71,000.00 09/07/96 08/07/11 179.18
--------------------------------------------------------- -------------
122 7,259,489.00 7,257,504.39 206.82
<CAPTION>
Original Current Scheduled
Date LTV Mortgage Payment
Sale ID Account Due Ratio Rate Int & Prin
- ---------------------------------------------------------------------------------------------
ML669 10266124857 09/17/96 58.5 11.200 251.00
ML669 10266124861 09/06/96 87.4 12.500 412.89
ML669 10266124930 09/14/96 80.8 10.950 215.36
ML669 10266124933 09/14/96 70.0 12.250 403.44
ML669 10266124972 09/20/96 80.0 10.250 290.34
ML669 10266125072 09/19/96 57.4 12.500 407.88
ML669 10266125221 09/20/96 80.0 12.450 479.16
ML669 10266125266 09/01/96 80.0 9.900 4,156.03
ML669 10266125269 09/19/96 85.0 13.750 269.57
ML669 10266125333 09/14/96 89.4 11.700 425.14
ML669 10266125355 09/01/96 71.7 10.750 1,238.58
ML669 10266125370 09/14/96 67.7 10.000 451.95
ML669 10266125387 09/13/96 84.5 13.240 353.25
ML669 10266125391 09/15/96 86.0 11.000 1,295.16
ML669 10266125397 09/16/96 10.7 9.500 605.65
ML669 10266125668 09/19/96 74.8 14.250 409.59
ML669 10266125704 09/15/96 78.3 11.750 592.07
ML669 10266125869 09/19/96 65.7 12.500 284.04
ML669 10266125945 09/15/96 89.9 12.000 499.27
ML669 10266125992 09/14/96 84.7 10.750 254.27
ML669 10266126030 09/16/96 79.9 14.250 763.59
ML669 10266126168 09/12/96 74.0 14.500 174.08
ML669 10266126383 09/14/96 84.9 12.250 1,044.74
ML669 10266126384 10/14/96 85.0 10.000 357.06
ML669 10266126489 09/14/96 64.7 10.500 518.87
ML669 10266126601 09/16/96 89.2 11.700 1,050.31
ML669 10266126610 09/14/96 84.9 13.240 295.28
ML669 10266126611 09/12/96 80.0 10.750 1,306.87
ML669 10266126647 09/14/96 65.0 11.500 398.44
ML669 10266126763 09/09/96 85.0 12.000 1,092.90
ML669 10266126838 09/19/96 89.5 11.750 384.84
ML669 10266126855 09/16/96 79.9 11.750 397.87
ML669 10266126884 09/20/96 90.0 12.250 158.12
ML669 10266126913 09/12/96 75.8 11.000 113.66
ML669 10266126918 09/14/96 69.2 10.950 206.29
ML669 10266126919 09/14/96 84.9 12.690 321.19
ML669 10266126975 09/19/96 79.9 14.550 236.27
ML669 10266127033 09/14/96 90.0 12.250 460.07
ML669 10266127154 09/19/96 84.5 10.000 548.05
ML669 10266127204 09/16/96 90.0 12.250 328.29
ML669 10266127261 09/19/96 89.4 12.250 218.93
ML669 10266127274 09/12/96 89.7 12.000 126.02
ML669 10266127383 09/14/96 65.9 12.750 326.01
ML669 10266127421 09/07/96 80.0 14.750 385.04
ML669 10266127424 09/14/96 90.0 11.750 460.80
ML669 10266127552 10/01/96 86.7 12.900 188.80
ML669 10266127639 09/12/96 80.0 11.250 1,165.51
ML669 10266127646 09/16/96 79.7 11.750 279.74
ML669 10266127827 09/02/96 68.6 13.850 294.07
ML669 10266127845 09/14/96 84.9 11.750 235.16
ML669 10266127853 09/12/96 85.0 12.990 395.18
ML669 10266127969 09/21/96 85.0 10.200 785.27
ML669 10266127987 09/14/96 79.9 13.990 206.32
ML669 10266128024 09/16/96 78.4 11.000 380.93
ML669 10266128134 09/06/96 85.5 12.900 162.37
ML669 10266128139 09/06/96 77.9 15.590 432.06
ML669 10266128150 10/06/96 42.5 11.650 188.44
ML669 10266128158 09/06/96 68.2 14.090 365.65
ML669 10266128309 09/16/96 59.7 13.000 387.17
ML669 10266128344 09/07/96 84.8 13.950 838.45
------------------ -------------------------------------------
122 77.4 11.616 76,670.12
</TABLE>
<PAGE>
Alliance Funding Company Page 26 9/16/96
A division of Superior Bank FSB
Sale Schedule
1996-3 Class 1 - Initial Pool of Fixed Rate Mortgages - Settlement 9/23/96
<TABLE>
<CAPTION>
Zip
Sale ID Account Name Address City State Code
- -----------------------------------------------------------------------------------------------------------------------------
<C> <C> <S> <C> <C> <C> <C>
ML670 10266079740 PIQUION YVES JACQUES 9901 ASHBURTON LANE BETHESDA MD 20817
ML670 10266106019 STOECKMANN WALTER 25 EAST HARKIN ROAD MAHOPAC NY 10541
ML670 10266107846 PETERSON SUSAN 5540 WEST BLUEVAIL COURT WEST JORDAN UT 84084
ML670 10266109698 NEBEKER WILLIAM F 1055 EAST SMART LANE SANDY UT 84094
ML670 10266111416 DEBROSSE DOMINIQUE M 109 LONG DRIVE HEMPSTEAD NY 11550
ML670 10266111680 KING GARY H 65 SOUTH LINE STREET FRACKVILLE PA 17931
ML670 10266114001 HALL JOHN F 49 COLUMBIA STREET RENSSELAER NY 12144
ML670 10266114232 WHITEAKER BRUCE A 8651 E CORRINE DRIVE SCOTTSDALE AZ 85260
ML670 10266114528 ENG MICHAEL A 127 SIGSBEE AVENUE ALBERTSON NY 11507
ML670 10266114851 JUN CLARA KEUM JOO 16 HILLSIDE LANE SOUTH SYOSSET NY 11791
ML670 10266114909 KELLY WILFRED J 1407 LINCOLN PLACE BROOKLYN NY 11213
ML670 10266115246 FERNANDEZ ANTONIO ALFONSO 3864 SHERIDAN BOULEVARD DENVER CO 80212
ML670 10266115248 GALANAKIS THEOHARIS 500 BRADLEY BOULEVARD BRADLEY BEACH NJ 07720
ML670 10266115560 HANSON CATHERINE 20 GRAY AVENUE MEDFORD NY 11763
ML670 10266115782 MARUSINEC ADRIANNE 21 HOWARD STREET MILLTOWN NJ 08850
ML670 10266117205 RAY CHARLES 1864 N WILLIAMS MESA AZ 85203
ML670 10266118272 COCHRANE FRANCINE 94 MINERVA AVENUE HAWTHORNE NJ 07506
ML670 10266118305 MIDDLETON DELLA ELIZABETH 614 63RD PLACE SEAT PLEASANT MD 20743
ML670 10266118417 CLEAVER ALBERT W 945 KLEE MILL ROAD WESTMINSTER MD 21157
ML670 10266118467 ROLNICK MARTIN 103 MURRAY DRIVE OCEANSIDE NY 11572
ML670 10266118592 RUBINSHTEIN ALEX 37 COLERIDGE STREET BROOKLYN NY 11235
ML670 10266118676 WILLIAMS PATRICIA 34 ASPEN WAY SCHWENKSVILLE PA 19473
ML670 10266118761 EDWARDS GREGORY B 885 SE 31ST COURT HILLSBORO OR 97123
ML670 10266118801 EBACK THOMAS W 2212 SOUTHEAST 132ND AVENUE PORTLAND OR 97233
ML670 10266118863 PHILLIPS RUSSELL 3940 W RANCHO DR PHOENIX AZ 85019
ML670 10266118931 TEIXEIRA EUGENIA M 412 FORD AVENUE FORDS NJ 08862
ML670 10266119075 PETERS SCOTT H 1879 HELEN ROAD PLEASANT HILL CA 94523
ML670 10266119198 RUSSO ANTHONY 54 FAYETTE AVENUE STATEN ISLAND NY 10305
ML670 10266119472 WONG LEI KONG 209-45 28TH AVENUE BAYSIDE NY 11360
ML670 10266119639 MOORE GLAISTER 12 NORTH BOND STREET MOUNT VERNON NY 10550
ML670 10266120331 BORGES PATRICIA 7 HEATHER LANE OXFORD CT 06478
ML670 10266120397 AMATO DOMENICO 20 CALIFORNIA STREET HICKSVILLE NY 11801
ML670 10266120481 ELLIS CAROL 174-07 MURDOCK AVENUE SAINT ALBANS NY 11434
ML670 10266120515 YATES DON A 18238 WEST JEFFERSON STREET BUCKEYE AZ 85326
ML670 10266120707 DEEBY LINDA A 29639 BOEWE WARREN MI 48092
ML670 10266120935 STOREY JAMES R 4360 SOUTH 2350 WEST ROY UT 84067
ML670 10266120965 FREEMAN TERRY R 2257 COVERDALE ROAD LEICESTER NY 14481
ML670 10266121172 PEARL DANIEL S 3813 THREE WOOD DRIVE HAMPSTEAD MD 21074
ML670 10266121392 GHAZALEH OUSAMA ABU 10904 VALLEY FORGE CIRCLE KING OF PRUSSIA PA 19406
ML670 10266121447 LOPEZ FRANCISCO 173 GIBBS ROAD CENTRAL ISLIP NY 11722
ML670 10266121841 FARKAS EDWARD 3 METRO TRAIL HOPATCONG NJ 07843
ML670 10266121962 LOFTIS ROGER D 328 PERRY STREET COLUMBIA PA 17512
ML670 10266122033 ABBOTT DENNIS P 2715 SANTA MONICA AVENUE SE ALBUQUERQUE NM 87106
ML670 10266122163 MERITAI MARK 320 FOREST GLEN AVENUE FRANKLIN LAKES NJ 07417
ML670 10266122444 HULL KENZIE 519 EAST EVANS AVENUE PUEBLO CO 81004
ML670 10266122529 TRUJILLO DONEY LLOYD 7001 EAST 68TH PLACE COMMERCE CITY CO 80022
ML670 10266122572 GILES BRETT KELLY 624 WEST OREGON AVENUE CRESWELL OR 97426
ML670 10266122589 CHEEK PATRICIA A 2010 CLEARWOOD DRIVE MITCHELLVILLE MD 20721
ML670 10266122639 PACKARD EDWARD E 339 EAST MCDOWELL BLVD APACHE JUNCTION AZ 85219
ML670 10266122808 HUITT WENDY L 1931 MONEDA DRIVE NW ALBUQUERQUE NM 87120
ML670 10266122816 SHEVOCK SCOTT F 1019 BEACON HILL WAY COLORADO SPRINGS CO 80906
ML670 10266122886 MCGUGINS WILLIAM H SR 400 EGMONT AVENUE MOUNT VERNON NY 10553
ML670 10266122960 TIMONEY RYAN M 11340 EAST BIG COTTONWOOD 325 SALT LAKE CITY UT 84121
ML670 10266122972 MARRERO DEBORAH ANN ROAD #4 BOX 4469 POTTSVILLE PA 17901
ML670 10266123158 KIVLER JEFFREY DAVID 4607 EASTWOOD LANE HOLIDAY FL 34690
ML670 10266123202 ODEN CLYDE H 200 4TH AVENUE EAST ORANGE NJ 07017
ML670 10266123283 MOUNT RONALD P 3223 111TH AVENUE SE BELLEVUE WA 98004
ML670 10266123549 WILKINS W BYRON 2S330 RIVER OAKS DRIVE WARRENVILLE IL 60555
ML670 10266123579 MUNIZ WILLIAM 144 CORNELIA STREET BROOKLYN NY 11221
ML670 10266123622 QUANTZ DOUGLAS L 6701 SIERRA DR SE LACEY WA 98503
ML670 10266123820 WARNER LELAND W III 1922 POHICK CREEK COURT WOODBRIDGE VA 22192
ML670 10266123994 TURNER JANN M 221 CELIA AVENUE BOULDER CREEK CA 95006
<CAPTION>
Principal Cut-off Date First
Balance at Principal Payment Maturity Rem
Sale ID Account Origination Balance Date Date Term
- ---------------------------------------------------------------------------------------------------------------------
<C> <C> <S> <C> <C> <C> <C>
ML670 10266079740 95,700.00 93,235.72 08/14/95 07/14/10 166.36
ML670 10266106019 178,415.00 178,415.00 06/15/96 05/15/26 356.42
ML670 10266107846 30,000.00 30,000.00 04/11/96 03/11/11 174.28
ML670 10266109698 28,300.00 27,977.60 06/09/96 05/09/11 176.22
ML670 10266111416 175,000.00 175,000.00 06/04/96 05/04/26 356.05
ML670 10266111680 32,000.00 31,793.89 07/28/96 06/28/11 177.86
ML670 10266114001 52,500.00 52,500.00 07/21/96 06/21/11 177.63
ML670 10266114232 76,250.00 76,250.00 09/12/96 08/12/11 179.34
ML670 10266114528 86,300.00 86,122.28 08/01/96 07/01/11 178.00
ML670 10266114851 161,500.00 161,500.00 08/03/96 07/03/11 178.03
ML670 10266114909 80,000.00 80,000.00 08/26/96 07/26/11 178.78
ML670 10266115246 64,000.00 63,986.54 06/28/96 05/28/11 176.84
ML670 10266115248 33,674.00 33,674.00 08/08/96 07/08/11 178.19
ML670 10266115560 72,000.00 71,413.31 06/01/96 05/01/11 176.00
ML670 10266115782 112,200.00 112,200.00 08/09/96 07/09/26 358.22
ML670 10266117205 128,000.00 128,000.00 08/25/96 07/25/26 358.75
ML670 10266118272 155,250.00 155,190.80 07/20/96 06/20/11 177.60
ML670 10266118305 59,500.00 59,442.94 07/01/96 06/01/11 177.00
ML670 10266118417 296,000.00 296,000.00 07/26/96 06/26/11 177.80
ML670 10266118467 80,813.00 80,813.00 09/22/96 08/22/11 179.67
ML670 10266118592 95,200.00 95,200.00 07/19/96 06/19/11 177.57
ML670 10266118676 70,000.00 70,000.00 07/28/96 06/28/11 177.86
ML670 10266118761 157,000.00 157,000.00 08/08/96 07/08/11 178.19
ML670 10266118801 41,700.00 41,700.00 09/20/96 08/20/11 179.61
ML670 10266118863 21,736.00 21,686.51 08/23/96 07/23/11 178.68
ML670 10266118931 110,000.00 109,909.12 07/25/96 06/25/11 177.76
ML670 10266119075 34,900.00 34,900.00 09/02/96 08/02/11 179.01
ML670 10266119198 40,000.00 40,000.00 08/09/96 07/09/11 178.22
ML670 10266119472 38,000.00 37,951.98 08/17/96 07/17/11 178.49
ML670 10266119639 112,000.00 111,912.15 01/05/96 12/05/10 171.09
ML670 10266120331 152,000.00 152,000.00 09/01/96 08/01/26 359.00
ML670 10266120397 24,500.00 24,500.00 09/05/96 08/05/16 239.11
ML670 10266120481 155,000.00 155,000.00 09/14/96 08/14/11 179.41
ML670 10266120515 118,915.00 118,915.00 09/02/96 08/02/26 359.01
ML670 10266120707 50,000.00 50,000.00 09/06/96 08/06/16 239.15
ML670 10266120935 25,000.00 24,999.78 09/01/96 08/01/11 179.00
ML670 10266120965 92,000.00 92,000.00 09/16/96 08/16/26 359.47
ML670 10266121172 51,195.00 50,548.62 08/22/96 07/22/11 178.65
ML670 10266121392 54,600.00 54,600.00 08/22/96 07/22/11 178.65
ML670 10266121447 108,800.00 108,771.20 07/25/96 06/25/26 357.76
ML670 10266121841 104,000.00 104,000.00 09/21/96 08/21/11 179.64
ML670 10266121962 39,500.00 39,500.00 09/12/96 08/12/11 179.34
ML670 10266122033 33,000.00 33,000.00 09/07/96 08/07/11 179.18
ML670 10266122163 70,000.00 70,000.00 08/15/96 07/15/11 178.42
ML670 10266122444 63,000.00 63,000.00 09/19/96 08/19/11 179.57
ML670 10266122529 59,200.00 59,200.00 09/27/96 08/27/26 359.84
ML670 10266122572 15,000.00 15,000.00 09/06/96 08/06/11 179.15
ML670 10266122589 40,000.00 39,948.69 08/19/96 07/19/11 178.55
ML670 10266122639 26,550.00 26,550.00 09/12/96 08/12/11 179.34
ML670 10266122808 11,532.00 11,532.00 08/03/96 07/03/11 178.03
ML670 10266122816 39,099.00 39,099.00 09/26/96 08/26/11 179.80
ML670 10266122886 42,000.00 42,000.00 08/03/96 07/03/11 178.03
ML670 10266122960 170,625.00 170,625.00 09/16/96 08/16/11 179.47
ML670 10266122972 65,000.00 65,000.00 08/03/96 07/03/11 178.03
ML670 10266123158 39,150.00 39,150.00 09/16/96 08/16/26 359.47
ML670 10266123202 92,000.00 92,000.00 09/05/96 08/05/11 179.11
ML670 10266123283 103,800.00 103,800.00 09/05/96 08/05/11 179.11
ML670 10266123549 28,600.00 28,600.00 09/05/96 08/05/16 239.11
ML670 10266123579 40,600.00 40,600.00 08/17/96 07/17/11 178.49
ML670 10266123622 20,000.00 20,000.00 09/14/96 08/14/11 179.41
ML670 10266123820 25,600.00 25,600.00 09/05/96 08/05/11 179.11
ML670 10266123994 41,750.00 41,750.00 09/12/96 08/12/11 179.34
<CAPTION>
Original Current Scheduled
Date LTV Mortgage Payment
Sale ID Account Due Ratio Rate Int & Prin
- ---------------------------------------------------------------------------------------------
ML670 10266079740 08/14/96 90.0 11.000 1,087.72
ML670 10266106019 09/15/96 85.0 12.200 1,862.71
ML670 10266107846 08/11/96 74.3 13.750 394.50
ML670 10266109698 10/09/96 85.0 12.940 356.95
ML670 10266111416 09/04/96 67.3 11.950 1,793.34
ML670 10266111680 09/28/96 80.0 13.250 410.16
ML670 10266114001 09/21/96 70.0 11.700 527.93
ML670 10266114232 09/12/96 81.8 12.250 799.02
ML670 10266114528 09/01/96 78.1 11.700 1,019.15
ML670 10266114851 08/03/96 85.0 13.200 1,811.79
ML670 10266114909 08/26/96 45.7 11.750 807.53
ML670 10266115246 09/28/96 80.0 10.700 595.02
ML670 10266115248 09/08/96 84.9 12.700 419.43
ML670 10266115560 10/01/96 80.0 10.500 658.62
ML670 10266115782 09/09/96 85.0 11.900 1,145.47
ML670 10266117205 08/25/96 80.0 12.750 1,390.97
ML670 10266118272 09/20/96 75.0 10.900 1,466.76
ML670 10266118305 09/01/96 70.0 11.750 600.60
ML670 10266118417 08/26/96 80.0 9.990 3,179.02
ML670 10266118467 09/22/96 74.9 9.990 867.93
ML670 10266118592 09/19/96 77.2 13.700 1,105.43
ML670 10266118676 08/28/96 65.7 10.500 640.32
ML670 10266118761 08/08/96 89.4 12.100 1,627.02
ML670 10266118801 09/20/96 88.3 11.650 417.73
ML670 10266118863 09/23/96 79.6 13.350 280.04
ML670 10266118931 09/25/96 75.8 10.050 969.40
ML670 10266119075 09/02/96 80.0 14.050 414.90
ML670 10266119198 09/09/96 89.2 12.600 430.01
ML670 10266119472 09/17/96 74.9 11.600 446.33
ML670 10266119639 09/05/96 57.4 14.750 1,393.81
ML670 10266120331 09/01/96 80.0 9.850 1,317.09
ML670 10266120397 09/05/96 84.3 13.350 293.17
ML670 10266120481 09/14/96 80.5 10.250 1,388.96
ML670 10266120515 09/02/96 85.0 12.200 1,241.51
ML670 10266120707 09/06/96 42.7 10.000 482.51
ML670 10266120935 10/01/96 84.9 13.200 280.46
ML670 10266120965 09/16/96 77.9 12.800 1,003.34
ML670 10266121172 10/22/96 80.8 13.400 661.27
ML670 10266121392 09/22/96 60.0 13.350 618.96
ML670 10266121447 08/25/96 85.0 12.350 1,148.53
ML670 10266121841 09/21/96 80.0 10.500 951.33
ML670 10266121962 09/12/96 72.8 12.450 420.03
ML670 10266122033 09/07/96 73.0 11.450 384.45
ML670 10266122163 09/15/96 82.7 13.950 826.64
ML670 10266122444 09/19/96 63.6 10.250 686.67
ML670 10266122529 09/27/96 80.0 13.750 689.75
ML670 10266122572 09/06/96 88.8 12.000 180.03
ML670 10266122589 09/19/96 88.4 12.900 503.47
ML670 10266122639 09/12/96 89.8 12.000 273.10
ML670 10266122808 09/03/96 80.0 12.950 127.12
ML670 10266122816 09/26/96 85.0 10.750 364.98
ML670 10266122886 09/03/96 89.8 11.600 419.13
ML670 10266122960 09/16/96 79.3 10.990 1,623.61
ML670 10266122972 09/03/96 57.5 10.390 714.08
ML670 10266123158 09/16/96 90.0 10.650 362.52
ML670 10266123202 09/05/96 63.4 11.550 914.58
ML670 10266123283 09/05/96 85.0 13.990 1,229.08
ML670 10266123549 09/05/96 15.4 12.990 334.87
ML670 10266123579 09/17/96 89.9 12.400 430.16
ML670 10266123622 09/14/96 79.9 13.000 253.05
ML670 10266123820 09/05/96 89.5 12.990 323.73
ML670 10266123994 09/12/96 85.0 13.800 488.08
</TABLE>
<PAGE>
Alliance Funding Company Page 27 9/16/96
A division of Superior Bank FSB
Sale Schedule
1996-3 Class 1 - Initial Pool of Fixed Rate Mortgages - Settlement 9/23/96
<TABLE>
<CAPTION>
Zip
Sale ID Account Name Address City State Code
- -----------------------------------------------------------------------------------------------------------------------------
<C> <C> <S> <C> <C> <C> <C>
ML670 10266124001 CUMMINGS TED S 9630 50TH PLACE WEST MUKILTEO WA 98275
ML670 10266124065 HARDMAN ERIC G 806 SOUTH 1640 WEST OREM UT 84058
ML670 10266124164 THOMPSON MICHELE C 2675 ACORN AVENUE ATLANTA GA 30305
ML670 10266124173 CAREW THYRA 400 WOMPATUCK COURT SILVER SPRING MD 20905
ML670 10266124178 ROSA FRANCISCO A DE LA 37 HIGHLAND PLACE BROOKLYN NY 11208
ML670 10266124328 NOLETTE HARRY N 2903 FENIMORE COURT WHEATON MD 20902
ML670 10266124346 SCOLLARD BRUCE L 5102 EAST 108TH PLACE THORNTON CO 80233
ML670 10266124350 SNYDER KEVIN S 706 WEST 2225 SOUTH SYRACUSE UT 84075
ML670 10266124363 CLULOW MARGARETTA M 102 SHOREFRONT PARK NORWALK CT 06854
ML670 10266124393 WHITTLE PATRICIA A 3115 WINCHESTER DRIVE PALM HARBOR FL 34683
ML670 10266124411 OVERGAARD REBECCA 71 MADISON AVENUE PARK RIDGE NJ 07656
ML670 10266124425 TOLARO TIMOTHY L 30219 CENTER RIDGE ROAD WESTLAKE OH 44145
ML670 10266124438 NOOR ABID 1185 BASSWOOD HOFFMAN ESTATES IL 60195
ML670 10266124478 HALSTEAD KEITH R 1108 N FRONT STREET READING PA 19601
ML670 10266124485 BOOKAMER DAVID 302 WRIGHT AVENUE ELLWOOD CITY PA 16117
ML670 10266124558 BAGLEY JEFF D 1232 SOUTH 950 EAST SPRINGVILLE UT 84663
ML670 10266124589 VIGIL CATHERINE R 620 TURQUOISE COURT NE ALBUQUERQUE NM 87123
ML670 10266124658 BROWN LEROY 7048 SOUTH PERRY AVENUE CHICAGO IL 60621
ML670 10266124659 DAVIS KATHY L 2354 BULLOCK RD. LAPEER MI 48446
ML670 10266124853 CURTIS A GRAHAM 26 NORWILL DRIVE NORTH BRANFORD CT 06471
ML670 10266124924 RAY RICHARD C 1619 SUE DRIVE COCOA FL 32922
ML670 10266124980 SAMUEL PEGGY 129-27 134TH STREET JAMAICA NY 11420
ML670 10266124981 DUNN EDWARD R 14415 BROOK DRIVE WOODBRIDGE VA 22193
ML670 10266125005 NIELSEN ROBERT 1063 EAST ELGIN AVENUE SALT LAKE CITY UT 84106
ML670 10266125067 MAJETTE ALTON 67 NEW YORK AVENUE NORTHWEST WASHINGTON DC 20001
ML670 10266125137 DEFOUW WILLIAM R 793 MERRILLS COVE RD ASHEVILLE NC 28803
ML670 10266125138 ROUSH MICHAEL W 513 WEST FREDERICK STREET LANCASTER PA 17603
ML670 10266125139 MYERS MICHELE M 3949 N 6TH STREET HARRISBURG PA 17110
ML670 10266125194 JACOBY PATRICK G 723 216TH STREET SW BOTHELL WA 98021
ML670 10266125201 PIETRUSZA DOROTHY 1320 OAKLAWN DRIVE LATROBE PA 15650
ML670 10266125263 MILLER MISTI M 13572 HARRISON STREET THORNTON CO 80241
ML670 10266125275 COHEN JACQUELYN W 10108 WINDTREE LANE BOCA RATON FL 33428
ML670 10266125300 SMITH ZINA V 5345 OVERBEND TRAIL SUWANEE GA 30174
ML670 10266125311 TURANO JOSEPH P 1142 SE 19TH TERRACE CAPE CORAL FL 33990
ML670 10266125322 VITIELLO PASQUINO J 147 BEECHWOOD ROAD ORADELL NJ 07649
ML670 10266125383 MINNICK DANIEL N 810 HOOD ROAD SWARTHMORE PA 19081
ML670 10266125475 IERONIMO JOHN 12 INDIAN LEDGE DRIVE TRUMBULL CT 06611
ML670 10266125487 TRETOLA ALFRED 156-43 91ST STREET HOWARD BEACH NY 11414
ML670 10266125510 TRIOLO CALOGERO 58-14 78TH STREET ELMHURST NY 11373
ML670 10266125564 GARMON MICHAEL B 5020 OAK GROVE CUMMING GA 30130
ML670 10266125571 CAMACHO LUIS A 1123 CHURCH STREET LEBANON PA 17046
ML670 10266125587 FOLEY BRIAN D 25 GROVE STREET WEST HARTFORD CT 06110
ML670 10266125606 DESCHENES ROGER M 3701 NW 8TH STREET DELRAY BEACH FL 33445
ML670 10266125660 WALLACE CANDACE L 1619 WOODWELL ROAD SILVER SPRING MD 20906
ML670 10266125818 HARDEMAN STEVE 620 MORRIS AVENUE BELLWOOD IL 60104
ML670 10266125849 BAKER ROBERT A 63 SHEARER ROAD WASHINGTON CT 06793
ML670 10266125941 MILLER ELAINE 7 THE PARKWAY HARRINGTON PARK NJ 07640
ML670 10266125998 FELLMY CHARLES T JR 136 BOUNDARY BLVD ROTONDA WEST FL 33947
ML670 10266126007 COKER MICHAEL K 19 WAVERLY PLACE STAMFORD CT 06902
ML670 10266126090 VELTEN DOLORES A 3 OLD FORGE GARTH SPARKS MD 21152
ML670 10266126109 JACKMAN DAVID E 610 NORTH 100 WEST SPRINGVILLE UT 84663
ML670 10266126111 WIEZER ELIAS 753 SOUTH 2ND STREET PHILADELPHIA PA 19147
ML670 10266126118 LOOSLE MICHAEL K 2693 NORTH 230 EAST NORTH LOGAN UT 84341
ML670 10266126135 SHABAREKH ANTHONY J 25 SPRING STREET NEW LONDON CT 06320
ML670 10266126280 PUZIO STEPHEN J 808 PENN ESTATES EAST STROUDSBURG PA 18301
ML670 10266126316 JOHNSTON CARL JOSEPH 316 LIBERTY STREET SANTA CRUZ CA 95060
ML670 10266126438 BRENTLINGER DOUGLAS H 6452 SOUTH HERITAGE PLACE EAS ENGLEWOOD CO 80111
ML670 10266126472 PETROVIC MIRJAN 23250 N 88TH DRIVE PEORIA AZ 85382
ML670 10266126495 GIDUSKO LAURA S 3717 LISBURN ROAD MECHANICSBURG PA 17055
ML670 10266126505 MANCINI KRISTOPHER 23 CHEROKEE DRIVE DANBURY CT 06811
ML670 10266126594 SPECHT CHARLES A 7238 RYAN STREET FAYETTEVILLE NC 28314
ML670 10266126612 OBERHOLZER ROLAND A 6102 E KELTON LANE SCOTTSDALE AZ 85254
<CAPTION>
Principal Cut-off Date First
Balance at Principal Payment Maturity Rem
Sale ID Account Origination Balance Date Date Term
- ---------------------------------------------------------------------------------------------------------------------
<C> <C> <S> <C> <C> <C> <C>
ML670 10266124001 26,400.00 26,400.00 09/07/96 08/07/11 179.18
ML670 10266124065 40,600.00 40,600.00 09/21/96 08/21/11 179.64
ML670 10266124164 198,400.00 198,400.00 08/05/96 07/05/11 178.09
ML670 10266124173 27,350.00 27,350.00 09/05/96 08/05/11 179.11
ML670 10266124178 144,000.00 144,000.00 08/25/96 07/25/26 358.75
ML670 10266124328 36,000.00 36,000.00 09/26/96 08/26/11 179.80
ML670 10266124346 96,000.00 96,000.00 09/19/96 08/19/11 179.57
ML670 10266124350 56,200.00 56,200.00 09/21/96 08/21/11 179.64
ML670 10266124363 19,500.00 19,500.00 09/12/96 08/12/11 179.34
ML670 10266124393 67,950.00 67,950.00 09/23/96 08/23/11 179.70
ML670 10266124411 57,357.00 57,357.00 09/05/96 08/05/11 179.11
ML670 10266124425 68,600.00 68,600.00 09/16/96 08/16/16 239.47
ML670 10266124438 35,500.00 35,500.00 09/12/96 08/12/16 239.34
ML670 10266124478 34,080.00 34,080.00 09/01/96 08/01/26 359.00
ML670 10266124485 30,800.00 30,800.00 09/02/96 08/02/11 179.01
ML670 10266124558 35,000.00 35,000.00 09/09/96 08/09/11 179.24
ML670 10266124589 83,700.00 83,700.00 09/06/96 08/06/11 179.15
ML670 10266124658 27,000.00 27,000.00 09/20/96 08/20/26 359.61
ML670 10266124659 78,000.00 77,610.62 09/09/96 08/09/16 239.24
ML670 10266124853 17,200.00 17,200.00 09/05/96 08/05/11 179.11
ML670 10266124924 18,000.00 18,000.00 09/20/96 08/20/11 179.61
ML670 10266124980 135,000.00 135,000.00 08/22/96 07/22/11 178.65
ML670 10266124981 89,250.00 89,250.00 09/09/96 08/09/11 179.24
ML670 10266125005 46,200.00 45,918.76 09/05/96 08/05/11 179.11
ML670 10266125067 70,850.00 70,850.00 08/22/96 07/22/11 178.65
ML670 10266125137 74,400.00 74,400.00 08/17/96 07/17/11 178.49
ML670 10266125138 11,700.00 11,700.00 08/23/96 07/23/11 178.68
ML670 10266125139 76,400.00 76,012.46 09/16/96 08/16/26 359.47
ML670 10266125194 35,434.00 35,434.00 09/07/96 08/07/11 179.18
ML670 10266125201 20,000.00 20,000.00 09/12/96 08/12/11 179.34
ML670 10266125263 13,000.00 13,000.00 09/20/96 08/20/11 179.61
ML670 10266125275 12,500.00 12,500.00 09/23/96 08/23/11 179.70
ML670 10266125300 200,175.00 200,175.00 08/24/96 07/24/11 178.72
ML670 10266125311 16,000.00 16,000.00 09/19/96 08/19/11 179.57
ML670 10266125322 60,000.00 60,000.00 09/21/96 08/21/11 179.64
ML670 10266125383 91,800.00 91,800.00 09/28/96 08/28/11 179.87
ML670 10266125475 51,000.00 51,000.00 09/26/96 08/26/11 179.80
ML670 10266125487 234,000.00 234,000.00 09/27/96 08/27/11 179.84
ML670 10266125510 200,000.00 200,000.00 09/21/96 08/21/11 179.64
ML670 10266125564 74,000.00 74,000.00 08/23/96 07/23/11 178.68
ML670 10266125571 22,500.00 22,500.00 09/01/96 08/01/26 359.00
ML670 10266125587 97,200.00 97,200.00 10/01/96 09/01/11 180.00
ML670 10266125606 24,000.00 24,000.00 09/23/96 08/23/11 179.70
ML670 10266125660 43,000.00 43,000.00 09/06/96 08/06/16 239.15
ML670 10266125818 103,700.00 103,700.00 09/20/96 08/20/11 179.61
ML670 10266125849 49,000.00 49,000.00 09/07/96 08/07/16 239.18
ML670 10266125941 10,000.00 10,000.00 09/16/96 08/16/06 119.47
ML670 10266125998 123,700.00 123,700.00 09/23/96 08/23/11 179.70
ML670 10266126007 26,250.00 26,250.00 09/15/96 08/15/11 179.44
ML670 10266126090 25,724.00 25,724.00 08/25/96 07/25/11 178.75
ML670 10266126109 20,000.00 20,000.00 09/19/96 08/19/11 179.57
ML670 10266126111 114,500.00 114,500.00 08/26/96 07/26/11 178.78
ML670 10266126118 22,500.00 22,500.00 09/09/96 08/09/11 179.24
ML670 10266126135 15,000.00 15,000.00 09/02/96 08/02/11 179.01
ML670 10266126280 23,000.00 23,000.00 09/12/96 08/12/11 179.34
ML670 10266126316 40,500.00 40,500.00 09/02/96 08/02/11 179.01
ML670 10266126438 30,000.00 30,000.00 09/21/96 08/21/11 179.64
ML670 10266126472 18,000.00 18,000.00 09/08/96 08/08/11 179.21
ML670 10266126495 58,000.00 58,000.00 09/14/96 08/14/16 239.41
ML670 10266126505 38,000.00 38,000.00 09/19/96 08/19/11 179.57
ML670 10266126594 55,550.00 55,550.00 09/21/96 08/21/16 239.64
ML670 10266126612 33,000.00 33,000.00 09/06/96 08/06/11 179.15
<CAPTION>
Original Current Scheduled
Date LTV Mortgage Payment
Sale ID Account Due Ratio Rate Int & Prin
- ---------------------------------------------------------------------------------------------
ML670 10266124001 09/07/96 86.9 12.500 281.76
ML670 10266124065 09/21/96 77.5 11.500 402.06
ML670 10266124164 09/05/96 80.0 11.950 2,033.13
ML670 10266124173 09/05/96 84.9 12.750 341.56
ML670 10266124178 09/25/96 77.8 13.800 1,683.45
ML670 10266124328 09/26/96 89.9 11.000 409.18
ML670 10266124346 09/19/96 72.7 10.750 896.14
ML670 10266124350 09/21/96 77.9 11.490 556.12
ML670 10266124363 09/12/96 89.8 12.100 235.29
ML670 10266124393 09/23/96 90.0 10.990 646.59
ML670 10266124411 09/05/96 84.8 10.850 646.53
ML670 10266124425 09/16/96 84.8 10.000 662.00
ML670 10266124438 09/12/96 89.7 12.000 390.89
ML670 10266124478 09/01/96 80.0 15.100 433.65
ML670 10266124485 09/02/96 80.0 13.490 352.54
ML670 10266124558 09/09/96 63.8 10.750 392.33
ML670 10266124589 09/06/96 90.0 11.000 797.09
ML670 10266124658 09/20/96 62.7 11.990 277.52
ML670 10266124659 10/09/96 65.0 11.490 831.28
ML670 10266124853 09/05/96 89.9 12.300 209.76
ML670 10266124924 09/20/96 60.0 12.250 218.93
ML670 10266124980 08/22/96 75.0 10.700 1,255.13
ML670 10266124981 09/09/96 85.0 11.500 883.84
ML670 10266125005 10/05/96 74.8 11.650 462.81
ML670 10266125067 08/22/96 65.0 13.990 838.92
ML670 10266125137 09/17/96 80.0 11.300 725.44
ML670 10266125138 08/23/96 88.0 11.650 137.80
ML670 10266125139 10/16/96 89.9 11.200 739.14
ML670 10266125194 09/07/96 85.0 13.500 405.87
ML670 10266125201 09/12/96 71.4 10.250 217.99
ML670 10266125263 09/20/96 69.2 12.750 162.35
ML670 10266125275 09/23/96 78.6 10.250 136.24
ML670 10266125300 09/24/96 83.0 13.050 2,222.16
ML670 10266125311 09/19/96 84.8 12.500 197.20
ML670 10266125322 09/21/96 76.3 10.000 526.54
ML670 10266125383 09/28/96 85.0 11.990 943.56
ML670 10266125475 09/26/96 89.1 12.600 631.91
ML670 10266125487 09/27/96 90.0 11.000 2,228.44
ML670 10266125510 09/21/96 55.5 12.100 2,072.63
ML670 10266125564 08/23/96 79.5 11.700 873.89
ML670 10266125571 09/01/96 73.7 11.500 222.82
ML670 10266125587 10/01/96 90.0 12.650 1,048.70
ML670 10266125606 09/23/96 81.5 12.990 303.50
ML670 10266125660 09/06/96 85.0 11.600 461.53
ML670 10266125818 09/20/96 85.0 10.250 929.26
ML670 10266125849 09/07/96 79.9 10.900 502.44
ML670 10266125941 09/16/96 75.8 14.550 158.59
ML670 10266125998 09/23/96 74.9 9.650 1,053.70
ML670 10266126007 09/15/96 84.9 11.900 313.36
ML670 10266126090 08/25/96 90.0 11.950 307.90
ML670 10266126109 09/19/96 82.3 10.500 182.95
ML670 10266126111 08/26/96 65.4 10.450 1,262.14
ML670 10266126118 09/09/96 77.6 11.900 229.71
ML670 10266126135 09/02/96 83.6 11.900 179.06
ML670 10266126280 09/12/96 87.5 12.990 290.85
ML670 10266126316 09/02/96 85.0 12.990 447.69
ML670 10266126438 09/21/96 75.9 13.500 343.62
ML670 10266126472 09/08/96 15.5 10.450 163.98
ML670 10266126495 09/14/96 53.7 9.800 552.05
ML670 10266126505 09/19/96 84.4 11.990 455.82
ML670 10266126594 09/21/96 83.5 11.700 600.08
ML670 10266126612 09/06/96 77.8 11.490 385.29
</TABLE>
<PAGE>
Alliance Funding Company Page 28 9/16/96
A division of Superior Bank FSB
Sale Schedule
1996-3 Class 1 - Initial Pool of Fixed Rate Mortgages - Settlement 9/23/96
<TABLE>
<CAPTION>
Zip
Sale ID Account Name Address City State Code
- -----------------------------------------------------------------------------------------------------------------------------
<C> <C> <S> <C> <C> <C> <C>
ML670 10266126623 STAPEL VICTOR A 1015 HONEYLOCUST COURT COLORADO SPRINGS CO 80904
ML670 10266126626 WILLIAMS DEREK 3325 W HARMONT DR PHOENIX AZ 85051
ML670 10266126666 GARDNER ROGER D 885 WEST 370 SOUTH LOGAN UT 84321
ML670 10266126778 SEINSOTH HELLMUTH 4001 N 8TH AVENUE PHOENIX AZ 85013
ML670 10266126804 JACKSON CARMAULT B 5240 PONY CREEK CIRCLE COLORADO SPRINGS CO 80919
ML670 10266126836 VAROZ ERNESTO A 741 NORDIC DRIVE COLORADO SPRINGS CO 80916
ML670 10266126874 KIM SUN N 3041 MONTEREY DRIVE FLOSSMOOR IL 60422
ML670 10266126917 OCONNER C E 4821 DEVON CIRCLE NAPLES FL 33962
ML670 10266126956 BLAKE DONALD RAY 228 BILLY COVINGTON ROAD ROCKINGHAM NC 28379
ML670 10266127061 WITTE ROBERT BRUCE 6575 DAVIS ROAD MOUNT AIRY MD 21771
ML670 10266127078 KATZER JULIA L 7636 EAST CATALINA DRIVE SCOTTSDALE AZ 85251
ML670 10266127081 PETERSON RONALD KEITH 2932 WEST WEYMOUTH ROAD WEST VALLEY CITY UT 84119
ML670 10266127217 BUTLER ROBERT E SR 6400 WESLEY LANE ELKRIDGE MD 21227
ML670 10266127232 MORELAND KEITH L 6332 SOUTH FLORENCE WAY ENGLEWOOD CO 80111
ML670 10266127264 ECKHARDT FRANK B 6900 TOWBRIDGE RD FAYETTEVILLE NC 28306
ML670 10266127302 LUCKETT DONNA M 10231 S SANGAMON CHICAGO IL 60643
ML670 10266127311 MORROW HANNAH 5613 SOUTH CARPENTER ST. CHICAGO IL 60621
ML670 10266127315 COOMBS DAVID W 141 SCHOONER LANE LAKE BARRINGTON IL 60010
ML670 10266127354 REAGAN ROBERT M 2801 BEAVER STREET MC KEESPORT PA 15132
ML670 10266127463 HOLDERFIELD WILLIAM L 703 HUTTO ROAD NORTH FT MEYERS FL 33903
ML670 10266127467 KUSTAN JOHN L 2080 JAMES FARM ROAD STRATFORD CT 06497
ML670 10266127663 RICE EDWARD J 12125 MURPHY ROAD ELBERT CO 80106
ML670 10266127664 DONATHAN STEVEN O 1131 COLORADO AVENUE WEST COLORADO SPRINGS CO 80904
ML670 10266127667 BARNES TRENT D 6986 S AMMONS STREET LITTLETON CO 80123
ML670 10266127682 CLAYBURN GLEN E 573 SOUTH VAN BUREN STREET MIDVALE UT 84047
ML670 10266127690 WHITNEY KIRK GLEN 1173 SOUTH 780 WEST PAYSON UT 84651
ML670 10266127706 KOHLER PAUL B 1460 S KING COURT DENVER CO 80219
ML670 10266127776 SEVERANCE CLIFFORD E 3313 WRENN HOUSE COURT HERNDON VA 22071
ML670 10266127848 BOLES GIEL S 981 SQUARE DANCE LANE FOUNTAIN CO 80817
ML670 10266127851 SUTHERLAND MARK D 8301 SE 144TH DRIVE PORTLAND OR 97236
ML670 10266127866 ADAMS APRIL L 31747 124TH PLACE SE AUBURN WA 98092
ML670 10266127927 WARD KYLE W 1925 EAST SUMMER CREST COVE SANDY UT 84093
ML670 10266127934 CHANDLER-KUHN EVELYN 2431 PINEHURST EVERGREEN CO 80439
ML670 10266127991 ABEL MICHAEL 1088 EAST 5000 SOUTH SOUTH OGDEN UT 84403
ML670 10266127993 CLARK LOREE A 4935 SOUTH 2875 WEST ROY UT 84067
ML670 10266128013 GORDEN LESLIE BERYL 2362 SE 154TH AVENUE PORTLAND OR 97233
ML670 10266128044 FREARK CHRISTOPHER B 2635 ROXANNE COURT COLORADO SPRINGS CO 80922
ML670 10266128132 KINZER B TODD 4566 WEST 4985 SOUTH SALT LAKE CITY UT 84118
ML670 10266128144 WISER RONALD A 3846 SOUTH 4025 WEST HOOPER UT 84315
ML670 10266128196 PICARILLO MICHAEL P 405 ELMWOOD DRIVE COLORADO SPRINGS CO 80907
ML670 10266128210 STORATZ KEVIN WM 4086 WOODGLEN BLVD THORNTON CO 80233
ML670 10266128302 DEVEGA ESTEBAN 2718 SABAL PALM DRIVE MIRAMAR FL 33023
ML670 10266128303 WARDAK ABDUL Q 5308 NW 110 TH AVENUE CORAL SPRINGS FL 33076
ML670 10266128353 ARTUS JANIS C 887 E SEMINOLE DR VENICE FL 34293
ML670 10266128354 BELL JOHN B 2508 ALPINE DRIVE HELLERTOWN PA 18055
ML670 10266128475 MCALLISTER FRANK T 17316 TAYLORS LANDING ROAD SHARPSBURG MD 21782
ML670 10266128495 ELWOOD PATRICK F 390 12TH AVENUE NE NAPLES FL 33964
ML670 10266128691 DUREN AARON D VAN 2110 WEST 1225 NORTH LAYTON UT 84041
ML670 10266128788 PERRELL WALTER H JR 18904 LANSFORD DR HUDSON FL 34667
ML670 10266128835 GLICK JULIE MAE 3679 WEST JASMINE STREET WEST VALLEY CITY UT 84120
ML670 10266128985 IKA LEIONI T 12630 SOUTH 1565 EAST DRAPER UT 84020
ML670 10266129006 SCHRECK ROBERT L 3057 SOUTH BREEZE DRIVE MAGNA UT 84044
ML670 10266129166 LEE GERALDINE 5964 MARTIN LUTHER KING DR JACKSONVILLE FL 32219
ML670 10266129480 RUFFIN JOHNNIE L 3503 W IOWA CHICAGO IL 60651
-------------------------------------------
178 Sale Total
1,068 Total with Merrill Lynch
<CAPTION>
Principal Cut-off Date First
Balance at Principal Payment Maturity Rem
Sale ID Account Origination Balance Date Date Term
- ---------------------------------------------------------------------------------------------------------------------
<C> <C> <S> <C> <C> <C> <C>
ML670 10266126623 81,000.00 81,000.00 09/19/96 08/19/26 359.57
ML670 10266126626 24,360.00 24,360.00 09/01/96 08/01/16 239.00
ML670 10266126666 16,120.00 16,120.00 09/02/96 08/02/11 179.01
ML670 10266126778 16,000.00 16,000.00 09/05/96 08/05/11 179.11
ML670 10266126804 27,900.00 27,900.00 09/23/96 08/23/11 179.70
ML670 10266126836 91,800.00 91,800.00 09/27/96 08/27/26 359.84
ML670 10266126874 101,500.00 101,500.00 09/12/96 08/12/26 359.34
ML670 10266126917 49,300.00 49,300.00 09/23/96 08/23/11 179.70
ML670 10266126956 63,000.00 63,000.00 09/21/96 08/21/06 119.64
ML670 10266127061 40,000.00 40,000.00 09/22/96 08/22/11 179.67
ML670 10266127078 12,900.00 12,900.00 09/06/96 08/06/11 179.15
ML670 10266127081 47,400.00 47,273.42 09/07/96 08/07/11 179.18
ML670 10266127217 171,200.00 171,200.00 09/13/96 08/13/11 179.38
ML670 10266127232 60,000.00 60,000.00 09/23/96 08/23/11 179.70
ML670 10266127264 35,000.00 35,000.00 09/26/96 08/26/11 179.80
ML670 10266127302 51,000.00 51,000.00 09/14/96 08/14/16 239.41
ML670 10266127311 35,000.00 35,000.00 09/09/96 08/09/11 179.24
ML670 10266127315 50,000.00 50,000.00 09/19/96 08/19/16 239.57
ML670 10266127354 36,800.00 36,800.00 09/20/96 08/20/26 359.61
ML670 10266127463 51,100.00 51,100.00 09/26/96 08/26/11 179.80
ML670 10266127467 45,200.00 45,200.00 09/14/96 08/14/11 179.41
ML670 10266127663 61,000.00 61,000.00 09/26/96 08/26/16 239.80
ML670 10266127664 10,500.00 10,500.00 09/26/96 08/26/11 179.80
ML670 10266127667 42,000.00 42,000.00 09/12/96 08/12/11 179.34
ML670 10266127682 24,500.00 24,500.00 09/01/96 08/01/11 179.00
ML670 10266127690 17,770.00 17,770.00 09/01/96 08/01/11 179.00
ML670 10266127706 32,849.00 32,849.00 09/16/96 08/16/11 179.47
ML670 10266127776 25,000.00 25,000.00 09/21/96 08/21/06 119.64
ML670 10266127848 21,000.00 21,000.00 09/26/96 08/26/11 179.80
ML670 10266127851 181,050.00 181,050.00 09/16/96 08/16/26 359.47
ML670 10266127866 30,000.00 30,000.00 09/14/96 08/14/11 179.41
ML670 10266127927 64,250.00 64,250.00 09/21/96 08/21/11 179.64
ML670 10266127934 115,000.00 115,000.00 09/23/96 08/23/11 179.70
ML670 10266127991 21,953.00 21,953.00 09/05/96 08/05/11 179.11
ML670 10266127993 33,132.00 33,132.00 09/05/96 08/05/11 179.11
ML670 10266128013 33,165.00 33,165.00 09/16/96 08/16/11 179.47
ML670 10266128044 17,983.00 17,983.00 09/26/96 08/26/11 179.80
ML670 10266128132 11,000.00 11,000.00 09/06/96 08/06/11 179.15
ML670 10266128144 43,683.00 43,683.00 09/06/96 08/06/11 179.15
ML670 10266128196 90,000.00 90,000.00 09/26/96 08/26/11 179.80
ML670 10266128210 101,150.00 101,150.00 09/20/96 08/20/26 359.61
ML670 10266128302 17,000.00 17,000.00 09/05/96 08/05/11 179.11
ML670 10266128303 99,000.00 99,000.00 09/05/96 08/05/11 179.11
ML670 10266128353 48,000.00 48,000.00 09/26/96 08/26/26 359.80
ML670 10266128354 54,300.00 54,300.00 09/21/96 08/21/11 179.64
ML670 10266128475 19,600.00 19,600.00 09/21/96 08/21/11 179.64
ML670 10266128495 44,800.00 44,800.00 09/23/96 08/23/11 179.70
ML670 10266128691 37,600.00 37,600.00 09/09/96 08/09/16 239.24
ML670 10266128788 93,500.00 93,500.00 09/27/96 08/27/11 179.84
ML670 10266128835 23,000.00 23,000.00 09/12/96 08/12/16 239.34
ML670 10266128985 38,800.00 38,800.00 09/21/96 08/21/11 179.64
ML670 10266129006 46,815.00 46,815.00 09/13/96 08/13/16 239.38
ML670 10266129166 25,400.00 25,400.00 09/26/96 08/26/11 179.80
ML670 10266129480 107,800.00 107,800.00 09/15/96 08/15/11 179.44
--------------------------------------------------------- -------------
178 11,161,604.00 11,155,529.39 216.46
1,068 65,426,856.00 65,382,128.23 221.53
<CAPTION>
Original Current Scheduled
Date LTV Mortgage Payment
Sale ID Account Due Ratio Rate Int & Prin
- ---------------------------------------------------------------------------------------------
ML670 10266126623 09/19/96 81.0 11.000 771.38
ML670 10266126626 09/01/96 90.0 12.000 268.22
ML670 10266126666 09/02/96 84.7 12.990 203.85
ML670 10266126778 09/05/96 83.3 10.000 171.94
ML670 10266126804 09/23/96 90.0 12.250 292.36
ML670 10266126836 09/27/96 90.0 11.240 890.92
ML670 10266126874 09/12/96 89.9 12.250 1,063.61
ML670 10266126917 09/23/96 74.9 12.000 591.68
ML670 10266126956 09/21/96 90.0 10.700 857.16
ML670 10266127061 09/22/96 70.2 12.000 480.07
ML670 10266127078 09/06/96 90.0 11.750 130.21
ML670 10266127081 10/07/96 84.9 14.200 569.14
ML670 10266127217 09/13/96 85.0 13.690 1,986.57
ML670 10266127232 09/23/96 84.8 13.250 769.04
ML670 10266127264 09/26/96 89.9 10.500 386.89
ML670 10266127302 09/14/96 75.0 12.250 570.47
ML670 10266127311 09/09/96 70.0 11.650 412.21
ML670 10266127315 09/19/96 46.2 15.000 658.39
ML670 10266127354 09/20/96 80.0 12.400 389.90
ML670 10266127463 09/26/96 79.8 11.490 505.65
ML670 10266127467 09/14/96 89.9 13.000 500.00
ML670 10266127663 09/26/96 88.6 11.750 661.06
ML670 10266127664 09/26/96 75.3 13.000 132.85
ML670 10266127667 09/12/96 89.9 12.500 517.66
ML670 10266127682 09/01/96 89.6 12.600 303.56
ML670 10266127690 09/01/96 84.9 13.450 230.12
ML670 10266127706 09/16/96 85.0 12.750 356.97
ML670 10266127776 09/21/96 88.3 10.490 337.20
ML670 10266127848 09/26/96 89.7 11.750 248.67
ML670 10266127851 09/16/96 85.0 12.750 1,967.46
ML670 10266127866 09/14/96 83.4 13.990 399.32
ML670 10266127927 09/21/96 36.6 13.250 723.31
ML670 10266127934 09/23/96 76.2 11.500 1,138.84
ML670 10266127991 09/05/96 89.8 12.900 276.32
ML670 10266127993 09/05/96 84.9 13.450 429.06
ML670 10266128013 09/16/96 87.6 12.250 347.53
ML670 10266128044 09/26/96 85.0 13.250 230.49
ML670 10266128132 09/06/96 85.7 12.900 120.82
ML670 10266128144 09/06/96 84.7 13.450 565.69
ML670 10266128196 09/26/96 75.0 12.500 960.53
ML670 10266128210 09/20/96 85.0 12.750 1,099.19
ML670 10266128302 09/05/96 79.8 12.500 209.53
ML670 10266128303 09/05/96 79.5 12.750 1,075.83
ML670 10266128353 09/26/96 80.0 10.990 456.75
ML670 10266128354 09/21/96 80.8 13.750 632.66
ML670 10266128475 09/21/96 89.9 12.250 238.39
ML670 10266128495 09/23/96 79.9 13.650 518.44
ML670 10266128691 09/09/96 82.5 12.650 431.17
ML670 10266128788 09/27/96 69.2 11.990 961.03
ML670 10266128835 09/12/96 30.8 14.090 287.51
ML670 10266128985 09/21/96 80.0 14.500 475.13
ML670 10266129006 09/13/96 79.8 15.350 628.60
ML670 10266129166 09/26/96 59.9 11.490 296.56
ML670 10266129480 09/15/96 70.0 10.100 954.00
------------------ -------------------------------------------
178 78.6 11.913 119,292.48
1,068 77.7 11.583 685,913.38
</TABLE>
<PAGE>
Alliance Funding Company Page 29 9/16/96
A division of Superior Bank FSB
Sale Schedule
1996-3 Class 1 - Initial Pool of Fixed Rate Mortgages - Settlement 9/23/96
<TABLE>
<CAPTION>
Zip
Sale ID Account Name Address City State Code
- -----------------------------------------------------------------------------------------------------------------------------
<C> <C> <S> <C> <C> <C> <C>
SBCL6 10266109795 STEVENSON CLINTONIA 178 MESEROLE STREET BROOKLYN NY 11206
SBCL6 10266114761 CHUNG DANIEL L 1516-18 WEST ROSEMONT CHICAGO IL 60660
SBCL6 10266118153 LAGUNAS GERRARDO 622 WASHINGTON STREET WAUKEGAN IL 60085
SBCL6 10266118564 STERLING JANET 2169 PACIFIC STREET BROOKLYN NY 11233
SBCL6 10266118747 HOOSEIN PETER 215-28 HILLSIDE AVENUE QUEENS VILLAGE NY 11427
SBCL6 10266119213 TAM THOMAS 108-20 JAMAICA AVENUE RICHMOND HILL NY 11418
SBCL6 10266119653 JENKINS NATHANIEL 563 AMBOY STREET BROOKLYN NY 11212
SBCL6 10266120115 GANDARINHO JOSE 12-16 FERRY STREET SOUTH RIVER NJ 08882
SBCL6 10266120160 215 HOLDING CORP 215 EAST 3RD STREET BROOKLYN NY 10009
SBCL6 10266120390 CORP LC INTERVALE 877 INTERVALE AVENUE BRONX NY 10458
SBCL6 10266120878 NEV VENTURE ASSOCIATES OF 379 LAKE AVENUE ROCHESTER NY 14608
SBCL6 10266122141 GAYLE DELLA 890 JEFFERSON AVENUE BROOKLYN NY 11221
SBCL6 10266122295 BHOLA KARAMCHAND 321 MENAHAN STREET BROOKLYN NY 11237
SBCL6 10266123476 CAPORRINO DOUGLAS J 1317-1319 WILLOW AVENUE HOBOKEN NJ 07030
SBCL6 10266124109 REDDING DONALD 80 CENTRAL AVENUE PASSAIC NJ 07055
SBCL6 10266124133 PEREZ RAFAEL A 1532 N TALMAN CHICAGO IL 60622
SBCL6 10266125078 CORP/HONO ST JOHNS REALTY 1399 ST JOHNS PLACE BROOKLYN NY 11207
SBCL6 10266126146 GAIL BAKER 6601-6603 SOUTH KIMBARK CHICAGO IL 60637
SBCL6 10266127048 GIANNINI GAIL 68-72 & 76 WHEELER AVENUE PLEASANTVILLE NY 10570
-------------------------------------------
19 Sale Total
19 Total with Superior Retail
1,536 Grand Total
<CAPTION>
Principal Cut-off Date First
Balance at Principal Payment Maturity Rem
Sale ID Account Origination Balance Date Date Term
- ---------------------------------------------------------------------------------------------------------------------
<C> <C> <S> <C> <C> <C> <C>
SBCL6 10266109795 117,000.00 116,786.97 08/01/96 07/01/11 178.00
SBCL6 10266114761 150,000.00 149,944.36 08/01/96 07/01/11 178.00
SBCL6 10266118153 84,000.00 83,967.41 08/01/96 07/01/11 178.00
SBCL6 10266118564 147,000.00 147,000.00 10/01/96 09/01/11 180.00
SBCL6 10266118747 192,500.00 192,500.00 10/01/96 09/01/11 180.00
SBCL6 10266119213 172,250.00 172,250.00 09/01/96 08/01/11 179.00
SBCL6 10266119653 269,500.00 269,500.00 08/01/96 07/01/11 178.00
SBCL6 10266120115 157,500.00 157,156.84 08/01/96 07/01/11 178.00
SBCL6 10266120160 302,500.00 302,377.05 09/01/96 08/01/11 179.00
SBCL6 10266120390 110,500.00 110,268.11 09/01/96 08/01/11 179.00
SBCL6 10266120878 166,000.00 166,000.00 08/01/96 07/01/11 178.00
SBCL6 10266122141 92,950.00 92,886.74 08/01/96 07/01/11 178.00
SBCL6 10266122295 69,550.00 69,550.00 09/01/96 08/01/11 179.00
SBCL6 10266123476 200,000.00 200,000.00 09/01/96 08/01/11 179.00
SBCL6 10266124109 62,000.00 62,000.00 09/01/96 08/01/11 179.00
SBCL6 10266124133 83,000.00 83,000.00 10/01/96 09/01/11 180.00
SBCL6 10266125078 250,000.00 250,000.00 09/01/96 08/01/11 179.00
SBCL6 10266126146 113,700.00 113,700.00 10/01/96 09/01/11 180.00
SBCL6 10266127048 350,000.00 350,000.00 09/01/96 08/01/11 179.00
--------------------------------------------------------- -------------
19 3,089,950.00 3,088,887.48 178.84
19 3,089,950.00 3,088,887.48 178.84
1,536 93,620,319.00 93,528,661.75 218.78
<CAPTION>
Original Current Scheduled
Date LTV Mortgage Payment
Sale ID Account Due Ratio Rate Int & Prin
- ---------------------------------------------------------------------------------------------
SBCL6 10266109795 09/01/96 65.0 12.990 1,479.56
SBCL6 10266114761 10/01/96 50.0 14.000 1,805.64
SBCL6 10266118153 09/01/96 70.0 11.600 859.98
SBCL6 10266118564 10/01/96 70.0 12.300 1,580.92
SBCL6 10266118747 10/01/96 70.0 12.600 2,113.31
SBCL6 10266119213 09/01/96 65.0 11.100 1,700.71
SBCL6 10266119653 09/01/96 70.0 11.100 3,080.07
SBCL6 10266120115 10/01/96 63.0 11.100 1,800.04
SBCL6 10266120160 10/01/96 55.0 13.500 3,526.08
SBCL6 10266120390 10/01/96 65.0 11.500 1,290.85
SBCL6 10266120878 09/01/96 55.7 12.500 1,809.99
SBCL6 10266122141 11/01/96 55.0 14.500 1,154.59
SBCL6 10266122295 09/01/96 65.0 11.100 686.70
SBCL6 10266123476 09/01/96 31.7 12.100 2,413.22
SBCL6 10266124109 09/01/96 29.5 15.250 878.38
SBCL6 10266124133 10/01/96 54.6 13.500 967.49
SBCL6 10266125078 09/01/96 59.5 12.500 3,081.31
SBCL6 10266126146 10/01/96 64.9 13.200 1,453.58
SBCL6 10266127048 09/01/96 64.4 11.100 4,000.09
------------------ -------------------------------------------
19 59.8 12.306 35,682.51
19 59.8 12.306 35,682.51
1,536 76.5 11.577 983,262.93
</TABLE>
<PAGE>
EXHIBIT H-2
MORTGAGE LOAN SCHEDULE FOR SUB-POOL 2
<PAGE>
Alliance Funding Company Page 1 9/16/96
A division of Superior Bank FSB
Sale Schedule
1996-3 Class 1 - Initial Pool of Fixed Rate Mortgages - Settlement 9/23/96
<TABLE>
<CAPTION>
Zip
Sale ID Account Name Address City State Code
- -----------------------------------------------------------------------------------------------------------------------------
<C> <C> <S> <C> <C> <C> <C>
BS15 10266104523 CRUZ SAMUEL 315 10TH STREET JERSEY CITY NJ 07302
BS15 10266108124 MILLER DAVID P MCLAIN ROAD ORISKANY FALLS NY 13425
BS15 10266108811 SONTUPE LOUIS R 5 MERHAM COURT TRENTON NJ 08619
BS15 10266109240 VIZZINI SALVATORE 73-50 70TH STREET GLENDALE NY 11385
BS15 10266110457 HUDGINS EMMA CARRIE 141 FULLER STREET SOMERSET NJ 08873
BS15 10266111064 SCANZO VINCENZA 371 ROOSEVELT STREET FAIRVIEW NJ 07022
BS15 10266111763 PRIETO JOE 48 SOUTH STREET JERSEY CITY NJ 07307
BS15 10266111864 AVENDANIO GENEROSO 449 FARNHAM AVENUE LODI NJ 07644
BS15 10266112736 VARBARO ANTHONY 33 HILLANDALE ROAD RYE BROOK NY 10573
BS15 10266113373 GOLDBERGER ROGER S 3909 DORA CIRCLE HARRISBURG PA 17110
BS15 10266113435 DREXLER JANE C 22 ALDA DRIVE POUGHKEEPSIE NY 12603
BS15 10266113474 FERRYMAN THERESA A 46 HALL AVENUE NEW LONDON CT 06320
BS15 10266114235 TROQUATO SAVERIO 14765 BIG BASIN WAY BOULDER CREEK CA 95006
BS15 10266114321 PETRIS GEORGE 2438 ATLANTIC BOULEVARD WANTAGH NY 11793
BS15 10266114400 SHAFFER WILLIAM C 6120 TUCKERMAN LANE COLORADO SPRINGS CO 80918
BS15 10266114454 MARNELL PAUL 25 HARROGATE STREET LIDO BEACH NY 11561
BS15 10266114534 PRINGLE HESTER 831 EAST 215TH STREET BRONX NY 10467
BS15 10266114544 CAVALLO GARY G 29 PITCAIRN DRIVE ROSELAND NJ 07068
BS15 10266114644 JEKER JEROME J III 1511 LOGAN BLVD S. NAPLES FL 33999
BS15 10266114655 PHILLIPS TALMADGE L 2600 JACKSON SPRINGS ROAD JACKSON SPRINGS NC 27281
BS15 10266114757 BROCKHOFF DAVID A 4911 SARDIS ROAD NEW KENSINGTON PA 15068
BS15 10266114773 JONES WILLIAM F 641 6TH STREET NORTH CLAIRTON PA 15025
BS15 10266114834 OLIVA SERGIO S 87-86 202ND STREET HOLLISWOOD NY 11423
BS15 10266115137 GALLAGHER KEVIN L 44 WALNUT STREET ALIQUIPPA PA 15001
BS15 10266115650 WRIGHT EDWARD R 11801 NEW HAMPSHIRE AVENUE SILVER SPRING MD 20904
BS15 10266115944 SMITH HARRY 528 FAIRVIEW AVENUE PENNDEL PA 19047
BS15 10266115993 KANO YOSHIO 10 ALPINE LANE CHAPPAQUA NY 10514
BS15 10266116050 NEWKIRK CLEMENTINE V 6912 BRIARCLIFF DRIVE CLINTON MD 20735
BS15 10266116154 GUTHRIE CAROLYN 361 13TH STREET NORTH SAINT PETERSBURG FL 33705
BS15 10266116178 KING RUSLYN P 221-21 MURDOCK AVENUE JAMAICA NY 11429
BS15 10266116349 RUSS ROSWITHA 4306 CHICOPA STREET NORTH PORT FL 34287
BS15 10266117074 SAYLOR JIMMY J 2603 OAK SUMMIT DRIVE JACKSONVILLE FL 32211
BS15 10266117080 LAROCCA YOLANDA 130-09 57TH ROAD FLUSHING NY 11355
BS15 10266117159 HOLLENBACH THEODORE S 3420 EAST PROSPECT ROAD YORK PA 17402
BS15 10266117886 WRIGHT DOROTHY 1710 WEST MONTVALE CHICAGO IL 60643
BS15 10266118101 DUE THOMAS H 6795 PINELLAS POINT DR S ST PETERSBURG FL 33712
BS15 10266118171 SHEPPARD BRADLEY W 15854 EAST CRESTRIDGE CIRCLE AURORA CO 80015
BS15 10266118215 STEVENS ROBERT W 9409 GLEN RIDGE DRIVE LAUREL MD 20723
BS15 10266118315 MITHAIWALA SABIHA 3091 NASSAU ROAD OCEANSIDE NY 11572
BS15 10266118365 WHITMER GEORGE E 1326 SOUTH 840 WEST WOODS CROSS UT 84087
BS15 10266118439 GUIMARAES ALEX PEREIRA 415 HOLLY ROAD VERO BEACH FL 32963
BS15 10266118584 MILLER SHERRI 4 ASTON COURT OWINGS MILLS MD 21117
BS15 10266118638 LUNSFORD CHRISTOPHER E 4336 YANCEY ROAD DOUGLASVILLE GA 30135
BS15 10266118649 KHLEIF ROD 1720 FRANKLIN STREET DENVER CO 80218
BS15 10266118697 BIRD LORNA RUTH 409 EDGEWOOD DRIVE COLORADO SPRINGS CO 80907
BS15 10266118794 BROWN KAREN RICHARDSON 1015 MONTLEY VIEW DRIVE ASHEBORO NC 27203
BS15 10266118813 HILLIER ROBERT E 36 SADDLE RIDGE DRIVE COLTS NECK NJ 07722
BS15 10266118891 CALHOUN WILLIE J 1090 NW 53RD STREET MIAMI FL 33127
BS15 10266118979 RIVERA PASTOR S 6161 40TH AVE N SAINT PETERSBURG FL 33709
BS15 10266119077 FRENCH JOSEPH P HCR 65 BOX215 LONG POND ROAD LONG POND PA 18334
BS15 10266119095 ADORNO RALPH M 10 ROSE STREET PUTNAM VALLEY NY 10579
BS15 10266119119 AZEEZ IMRAN 135-42 114TH PLACE SOUTH OZONE PARK NY 11420
BS15 10266119123 SHERMAN ALLAN 49 FIELDSTONE ROAD STATEN ISLAND NY 10304
BS15 10266119173 WALTER CONSTANCE R 4655 JULIAN ROAD SOUTHWEST PORT ORCHARD WA 98366
BS15 10266119197 BAKEWELL GEOFFREY H 23 TOWN FARM ROAD NEW MILFORD CT 06776
BS15 10266119297 SHARMA JOGINDER YASHPAL 108-28 64TH AVENUE FLUSHING NY 11375
BS15 10266119413 GEE FRANK H JR 808 TELLER LANE WOODLAND PARK CO 80866
BS15 10266119439 LAMPHERE WESLEY A 17 MISTUXET AVENUE STONINGTON CT 06355
BS15 10266119460 SCHAFFER SUE M 17 DORR STREET BRANFORD CT 06405
BS15 10266119518 SPAULDING RICHARD F 1344 SARATOGA DRIVE COLORADO SPRINGS CO 80910
BS15 10266119535 WILLIAMS DENNIS P 10 ACORN DRIVE HENDERSONVILLE NC 28792
BS15 10266119543 HICKS DOUGLAS D 332 OLD YORK ROAD NEW CUMBERLAND PA 17070
<CAPTION>
Principal Cut-off Date First
Balance at Principal Payment Maturity Rem
Sale ID Account Origination Balance Date Date Term
- ---------------------------------------------------------------------------------------------------------------------
<C> <C> <S> <C> <C> <C> <C>
BS15 10266104523 121,410.00 121,333.73 05/12/96 04/12/26 355.33
BS15 10266108124 35,000.00 34,757.18 07/28/96 06/28/11 177.86
BS15 10266108811 100,000.00 99,868.42 05/19/96 04/19/11 175.56
BS15 10266109240 117,800.00 117,779.32 07/05/96 06/05/11 177.11
BS15 10266110457 50,000.00 50,000.00 07/26/96 06/26/11 177.80
BS15 10266111064 93,000.00 92,923.82 07/26/96 06/26/11 177.80
BS15 10266111763 90,000.00 89,911.20 07/06/96 06/06/16 237.14
BS15 10266111864 67,000.00 67,000.00 07/05/96 06/05/11 177.11
BS15 10266112736 160,000.00 160,000.00 07/17/96 06/17/11 177.50
BS15 10266113373 65,000.00 65,000.00 08/01/96 07/01/11 178.00
BS15 10266113435 144,500.00 144,341.92 07/17/96 06/17/11 177.50
BS15 10266113474 25,800.00 25,761.26 06/16/96 05/16/11 176.45
BS15 10266114235 175,950.00 175,950.00 06/24/96 05/24/11 176.71
BS15 10266114321 25,000.00 24,904.22 07/07/96 06/07/11 177.17
BS15 10266114400 24,500.00 24,500.00 08/01/96 07/01/11 178.00
BS15 10266114454 67,000.00 66,871.41 07/17/96 06/17/11 177.50
BS15 10266114534 133,500.00 133,309.84 07/07/96 06/07/11 177.17
BS15 10266114544 240,000.00 239,898.08 07/25/96 06/25/11 177.76
BS15 10266114644 77,800.00 77,800.00 07/26/96 06/26/11 177.80
BS15 10266114655 29,000.00 28,743.80 07/26/96 06/26/11 177.80
BS15 10266114757 68,550.00 68,139.33 07/28/96 06/28/11 177.86
BS15 10266114773 30,240.00 30,240.00 07/03/96 06/03/11 177.04
BS15 10266114834 42,000.00 41,937.54 07/19/96 06/19/11 177.57
BS15 10266115137 23,000.00 22,868.95 08/02/96 07/02/06 117.99
BS15 10266115650 20,429.00 20,306.84 07/25/96 06/25/11 177.76
BS15 10266115944 42,750.00 42,590.85 07/25/96 06/25/11 177.76
BS15 10266115993 42,500.00 42,500.00 08/02/96 07/02/11 177.99
BS15 10266116050 140,400.00 140,177.17 07/26/96 06/26/26 357.80
BS15 10266116154 10,000.00 10,000.00 07/21/96 06/21/16 237.63
BS15 10266116178 148,770.00 148,770.00 07/27/96 06/27/26 357.83
BS15 10266116349 37,100.00 36,958.16 07/24/96 06/24/11 177.73
BS15 10266117074 41,200.00 40,772.53 07/26/96 06/26/11 177.80
BS15 10266117080 60,000.00 59,906.82 07/17/96 06/17/11 177.50
BS15 10266117159 35,000.00 34,884.35 07/25/96 06/25/16 237.76
BS15 10266117886 25,000.00 24,954.44 07/28/96 06/28/16 237.86
BS15 10266118101 65,000.00 64,928.32 07/26/96 06/26/11 177.80
BS15 10266118171 40,000.00 40,000.00 08/01/96 07/01/11 178.00
BS15 10266118215 45,000.00 44,876.47 07/13/96 06/13/11 177.37
BS15 10266118315 48,000.00 47,992.22 07/01/96 06/01/11 177.00
BS15 10266118365 135,000.00 135,000.00 07/12/96 06/12/26 357.34
BS15 10266118439 13,500.00 13,429.94 07/26/96 06/26/11 177.80
BS15 10266118584 500,000.00 500,000.00 07/12/96 06/12/11 177.34
BS15 10266118638 35,000.00 34,933.80 07/26/96 06/26/16 237.80
BS15 10266118649 42,700.00 42,700.00 07/14/96 06/14/11 177.40
BS15 10266118697 22,240.00 22,148.38 07/28/96 06/28/11 177.86
BS15 10266118794 20,000.00 19,817.37 07/26/96 06/26/06 117.80
BS15 10266118813 71,900.00 71,473.33 07/19/96 06/19/11 177.57
BS15 10266118891 48,750.00 48,750.00 07/27/96 06/27/11 177.83
BS15 10266118979 28,500.00 28,477.97 07/26/96 06/26/11 177.80
BS15 10266119077 13,900.00 13,858.09 07/21/96 06/21/11 177.63
BS15 10266119095 49,500.00 49,442.00 07/10/96 06/10/16 237.27
BS15 10266119119 27,000.00 26,862.50 07/24/96 06/24/11 177.73
BS15 10266119123 148,750.00 148,475.37 07/25/96 06/25/26 357.76
BS15 10266119173 114,000.00 114,000.00 07/28/96 06/28/11 177.86
BS15 10266119197 48,000.00 47,747.82 08/01/96 07/01/11 178.00
BS15 10266119297 195,000.00 195,000.00 07/25/96 06/25/11 177.76
BS15 10266119413 61,500.00 61,487.82 07/28/96 06/28/11 177.86
BS15 10266119439 117,300.00 117,300.00 07/28/96 06/28/11 177.86
BS15 10266119460 66,900.00 66,618.86 07/24/96 06/24/11 177.73
BS15 10266119518 54,500.00 54,354.57 07/25/96 06/25/11 177.76
BS15 10266119535 76,800.00 76,800.00 07/26/96 06/26/11 177.80
BS15 10266119543 48,000.00 47,851.45 07/24/96 06/24/11 177.73
<CAPTION>
Original Current Scheduled
Date LTV Mortgage Payment
Sale ID Account Due Ratio Rate Int & Prin
- ---------------------------------------------------------------------------------------------
BS15 10266104523 09/12/96 90.0 11.600 1,211.58
BS15 10266108124 09/28/96 34.6 9.150 358.12
BS15 10266108811 09/19/96 80.0 10.400 907.27
BS15 10266109240 09/05/96 70.9 10.500 1,077.56
BS15 10266110457 08/26/96 80.6 9.400 519.10
BS15 10266111064 09/26/96 75.0 10.250 833.37
BS15 10266111763 09/06/96 62.0 8.990 809.17
BS15 10266111864 09/05/96 36.8 14.990 846.64
BS15 10266112736 08/17/96 62.9 12.000 1,645.78
BS15 10266113373 09/01/96 41.0 10.450 716.50
BS15 10266113435 09/17/96 84.0 13.200 1,621.08
BS15 10266113474 09/16/96 85.0 11.350 298.94
BS15 10266114235 08/24/96 85.0 12.950 1,939.48
BS15 10266114321 09/07/96 82.6 13.350 322.09
BS15 10266114400 09/01/96 82.7 11.400 284.65
BS15 10266114454 09/17/96 78.0 11.500 782.69
BS15 10266114534 09/07/96 62.0 9.990 1,170.57
BS15 10266114544 08/25/96 75.0 11.990 2,466.82
BS15 10266114644 09/26/96 56.3 10.650 720.41
BS15 10266114655 09/26/96 48.9 10.200 315.19
BS15 10266114757 09/28/96 69.1 10.950 776.99
BS15 10266114773 09/03/96 85.0 11.500 353.26
BS15 10266114834 09/19/96 84.6 12.500 448.25
BS15 10266115137 09/02/96 56.0 11.990 329.85
BS15 10266115650 09/25/96 80.9 12.950 257.80
BS15 10266115944 09/25/96 89.9 11.150 489.93
BS15 10266115993 08/02/96 75.0 11.600 499.19
BS15 10266116050 09/26/96 90.0 10.850 1,321.17
BS15 10266116154 08/21/96 51.0 11.450 106.30
BS15 10266116178 08/27/96 85.5 11.500 1,473.26
BS15 10266116349 09/24/96 70.0 9.600 314.67
BS15 10266117074 09/26/96 69.8 10.500 455.42
BS15 10266117080 09/17/96 74.3 11.200 580.48
BS15 10266117159 09/25/96 87.6 10.500 349.43
BS15 10266117886 09/28/96 30.4 11.490 266.44
BS15 10266118101 09/26/96 58.0 10.150 577.64
BS15 10266118171 09/01/96 79.7 11.200 459.67
BS15 10266118215 09/13/96 89.8 10.650 501.62
BS15 10266118315 09/01/96 89.8 12.250 502.99
BS15 10266118365 08/12/96 88.8 11.750 1,362.70
BS15 10266118439 09/26/96 81.4 12.500 166.39
BS15 10266118584 09/12/96 66.6 11.250 4,856.31
BS15 10266118638 09/26/96 81.7 9.750 331.98
BS15 10266118649 08/14/96 70.0 10.700 396.99
BS15 10266118697 09/28/96 74.9 12.500 274.11
BS15 10266118794 09/26/96 31.2 10.650 271.55
BS15 10266118813 09/19/96 74.9 10.950 814.96
BS15 10266118891 08/27/96 75.0 10.850 549.51
BS15 10266118979 09/26/96 74.3 11.550 283.32
BS15 10266119077 09/21/96 79.4 10.400 152.79
BS15 10266119095 09/10/96 89.9 11.500 527.88
BS15 10266119119 09/24/96 89.6 11.250 311.13
BS15 10266119123 09/25/96 85.0 12.200 1,553.00
BS15 10266119173 08/28/96 61.6 9.900 992.02
BS15 10266119197 10/01/96 87.5 12.200 582.27
BS15 10266119297 08/25/96 65.0 10.950 1,849.67
BS15 10266119413 09/28/96 53.4 12.000 632.60
BS15 10266119439 08/28/96 85.0 13.200 1,315.93
BS15 10266119460 09/24/96 90.0 12.350 706.22
BS15 10266119518 09/25/96 36.8 12.000 654.09
BS15 10266119535 09/26/96 80.0 10.400 696.78
BS15 10266119543 09/24/96 75.0 9.650 505.58
</TABLE>
<PAGE>
Alliance Funding Company Page 2 9/16/96
A division of Superior Bank FSB
Sale Schedule
1996-3 Class 1 - Initial Pool of Fixed Rate Mortgages - Settlement 9/23/96
<TABLE>
<CAPTION>
Zip
Sale ID Account Name Address City State Code
- -----------------------------------------------------------------------------------------------------------------------------
<C> <C> <S> <C> <C> <C> <C>
BS15 10266119573 ELLIS KEITH E 600 CEDAR AVENUE DARBY PA 19023
BS15 10266119582 DARIUS MICHAEL N HAMMOND LANE PO BOX 209 CROWN POINT NY 12928
BS15 10266119631 RIVERA JOAQUIN P 402 KNIGHTS BRIDGE ROAD SPRING HILL FL 34609
BS15 10266119864 ROSE JENNIFER E 2742 BENNETT AVENUE EVANSTON IL 60201
BS15 10266119938 SCHNEIDER JOHN E 3030 HAPPY HOLLOW ROAD ASHEBORO NC 27203
BS15 10266119969 DUNDON LAWRENCE 841 EAST CHEROKEE AVENUE ORANGE CITY FL 32763
BS15 10266120027 CAGIGAS HUMBERTO 5250 SW 7TH STREET MIAMI FL 33134
BS15 10266120040 SHARMA JOGINDER 108-24 64TH AVENUE FLUSHING NY 11375
BS15 10266120119 SCHULTZ KASUMI 1549 RINGE LANE LAS VEGAS NV 89110
BS15 10266120123 MEDLOCK ANNA M 2555 S WANAMAKER STREET PHILADELPHIA PA 19143
BS15 10266120147 HOOPES LARRY A 171 TANNANBAUM WAY PALMYRA PA 17078
BS15 10266120153 SALAZAR ROSA 2876 LAMPORT PLACE BRONX NY 10465
BS15 10266120187 ORDANOFF NANCY L 6515 DANNER ROAD HARRISBURG PA 17112
BS15 10266120196 MCKINNON EUBULE DESMOND 947 ORLANDO AVENUE WEST HEMPSTEAD NY 11552
BS15 10266120215 MONTGOMERY HOWARD D 8317 78TH TERRACE NORTH LARGO FL 34647
BS15 10266120233 BAKER WILLIAM R 1268 WEST 600 NORTH SALT LAKE CITY UT 84116
BS15 10266120264 NALYWAJKO MYRA C 852 MARSHALL COURT PALATINE IL 60074
BS15 10266120269 BERGMANN JUDY M 971 DEARBORN CIRCLE CAROL STREAM IL 60188
BS15 10266120276 JEFFERSON ROBERT J 441 W. 104TH STREET CHICAGO IL 60628
BS15 10266120287 MORRIS JAMES T 15905 MILES AVENUE CLEVELAND OH 44128
BS15 10266120453 MEADOWS RICK 5457 SOUTH 3500 WEST SALT LAKE CITY UT 84118
BS15 10266120509 TYSON HUBERT DANIEL JR 833 DURWOOD DRIVE FAYETTEVILLE NC 28311
BS15 10266120565 MICHALSKI CHESTER 1945 SEVENTH STREET NEW BRUNSWICK NJ 08902
BS15 10266120581 CLAYTON MICHAEL A 10429 GEORGE SMITH ROAD LITHIA FL 33547
BS15 10266120709 RUNALS THOMAS 508 RICHMOND ROAD RICHMOND HEIGHTS, OH 44143
BS15 10266120842 WINBURN RICHARD A 1030 PAMELA DRIVE PLAINFIELD IN 46168
BS15 10266120997 WHYTE ROBERT JR 10 DOCK ROAD CHESTER CT 06412
BS15 10266121012 BRAGGS WILLIAM F 6010 SANTA FE DRIVE FAYETTEVILLE NC 28303
BS15 10266121014 BLUE JOSIAH JR 6515 TAREYTON ROAD FAYETTEVILLE NC 28314
BS15 10266121331 DRAKE STEVE 6 LEXINGTON COURT MEDFORD NJ 08055
BS15 10266121425 SKIDMORE KAREN 9 SPRUCE STREET EAST PATCHOGUE NY 11772
BS15 10266121518 DAWLEY DAVID EARL 6004 MEADOW LANE JACKSONVILLE FL 32277
BS15 10266121540 GUTSMIEDEL LLOYD F 10967 PEPPERTREE LANE PORT RICHEY FL 34668
BS15 10266121659 ROSALES JULIO 2958 N. FAIRFIELD CHICAGO IL 60618
BS15 10266121683 ECKHORN RICHARD 600 MENOMINEE DRIVE LAKE IN THE HILLS IL 60102
BS15 10266121900 AVELLINO DOMINIC 560 EDGE GROVE AVENUE STATEN ISLAND NY 10312
BS15 10266121961 RIGBY RICHARD G 622 SOUTH STATE RICHMOND UT 84333
BS15 10266122004 ANDERSON JOAN M 12465 DRYSDALE STREET SPRING HILL FL 34609
BS15 10266122194 PHAM HOANG B 6063 SOUTH 4520 WEST SALT LAKE CITY UT 84118
BS15 10266122242 TRKULJA VELJKO V 1607 JOHANNA TERRACE ARLINGTON HEIGHTS IL 60005
BS15 10266122351 MAYLIN BRENT F 1207 WEST 950 NORTH CLINTON UT 84015
BS15 10266122355 CHAU LIEM 3719 WEST SPRING VISTA DRIVE WEST VALLEY CITY UT 84120
BS15 10266122360 WILEY GERALD D JR 6678 WEST KINGS ESTATE DRIVE WEST VALLEY CITY UT 84120
BS15 10266122379 WINTER DAVID G 1812 NORTH CELIA WAY LAYTON UT 84041
BS15 10266122465 BERTOLETTE RUSSELL E 1116-1120 WEST 9TH AVENUE DENVER CO 80204
-------------------------------------------
107 Sale Total
<CAPTION>
Principal Cut-off Date First
Balance at Principal Payment Maturity Rem
Sale ID Account Origination Balance Date Date Term
- ---------------------------------------------------------------------------------------------------------------------
<C> <C> <S> <C> <C> <C> <C>
BS15 10266119573 40,000.00 40,000.00 07/27/96 06/27/16 237.83
BS15 10266119582 49,600.00 49,405.86 08/01/96 07/01/11 178.00
BS15 10266119631 130,000.00 130,000.00 07/28/96 06/28/11 177.86
BS15 10266119864 20,000.00 19,999.00 08/01/96 09/01/11 180.00
BS15 10266119938 57,600.00 57,142.25 07/26/96 06/26/16 237.80
BS15 10266119969 15,600.00 15,600.00 07/28/96 06/28/11 177.86
BS15 10266120027 20,000.00 19,716.23 08/01/96 07/01/11 178.00
BS15 10266120040 149,500.00 149,500.00 07/25/96 06/25/11 177.76
BS15 10266120119 107,950.00 106,980.53 07/24/96 06/24/26 357.73
BS15 10266120123 33,750.00 33,741.96 07/07/96 06/07/11 177.17
BS15 10266120147 99,000.00 99,000.00 08/01/96 07/01/16 238.00
BS15 10266120153 211,500.00 211,500.00 07/25/96 06/25/26 357.76
BS15 10266120187 32,000.00 31,801.46 07/26/96 06/26/11 177.80
BS15 10266120196 32,500.00 31,867.56 07/26/96 06/26/11 177.80
BS15 10266120215 45,933.00 45,916.83 07/25/96 06/25/11 177.76
BS15 10266120233 58,450.00 58,450.00 07/25/96 06/25/11 177.76
BS15 10266120264 120,000.00 120,000.00 07/25/96 06/25/26 357.76
BS15 10266120269 65,000.00 64,887.54 07/25/96 06/25/16 237.76
BS15 10266120276 23,500.00 23,468.56 08/01/96 07/01/16 238.00
BS15 10266120287 60,800.00 60,800.00 08/01/96 07/01/16 238.00
BS15 10266120453 116,000.00 116,000.00 07/28/96 06/28/26 357.86
BS15 10266120509 32,500.00 32,064.19 07/26/96 06/26/06 117.80
BS15 10266120565 152,000.00 152,000.00 07/17/96 06/17/11 177.50
BS15 10266120581 97,000.00 95,938.00 07/28/96 06/28/26 357.86
BS15 10266120709 123,300.00 123,300.00 07/27/96 06/27/26 357.83
BS15 10266120842 101,100.00 101,100.00 07/25/96 06/25/26 357.76
BS15 10266120997 36,000.00 35,905.50 07/28/96 06/28/11 177.86
BS15 10266121012 64,600.00 64,600.00 07/26/96 06/26/11 177.80
BS15 10266121014 58,500.00 58,061.34 07/26/96 06/26/26 357.80
BS15 10266121331 50,000.00 50,000.00 07/24/96 06/24/11 177.73
BS15 10266121425 26,000.00 25,808.84 07/17/96 06/17/06 117.50
BS15 10266121518 48,000.00 47,741.18 07/25/96 06/25/11 177.76
BS15 10266121540 46,600.00 46,471.06 07/25/96 06/25/16 237.76
BS15 10266121659 187,000.00 186,860.16 08/01/96 07/01/11 178.00
BS15 10266121683 93,700.00 93,527.15 08/01/96 07/01/26 358.00
BS15 10266121900 170,000.00 169,936.93 08/01/96 07/01/26 358.00
BS15 10266121961 24,139.00 24,139.00 07/14/96 06/14/11 177.40
BS15 10266122004 16,900.00 16,754.82 07/27/96 06/27/16 237.83
BS15 10266122194 32,000.00 31,901.19 07/17/96 06/17/11 177.50
BS15 10266122242 50,000.00 50,000.00 08/01/96 07/01/26 358.00
BS15 10266122351 42,700.00 42,562.76 07/18/96 06/18/11 177.53
BS15 10266122355 19,000.00 18,868.60 07/18/96 06/18/11 177.53
BS15 10266122360 49,500.00 49,375.77 07/18/96 06/18/11 177.53
BS15 10266122379 41,820.00 41,441.59 07/19/96 06/19/11 177.57
BS15 10266122465 42,100.00 42,066.82 07/27/96 06/27/11 177.83
--------------------------------------------------------- -------------
107 7,839,081.00 7,826,190.14 226.46
<CAPTION>
Original Current Scheduled
Date LTV Mortgage Payment
Sale ID Account Due Ratio Rate Int & Prin
- ---------------------------------------------------------------------------------------------
BS15 10266119573 08/27/96 80.0 13.490 482.66
BS15 10266119582 10/01/96 80.0 12.500 529.36
BS15 10266119631 08/28/96 84.9 9.900 1,131.25
BS15 10266119864 09/01/96 54.0 11.350 230.77
BS15 10266119938 09/26/96 80.0 9.200 525.67
BS15 10266119969 08/28/96 79.9 12.700 194.31
BS15 10266120027 09/01/96 84.9 9.500 168.17
BS15 10266120040 08/25/96 65.0 10.950 1,418.08
BS15 10266120119 10/24/96 85.0 12.200 1,127.03
BS15 10266120123 09/07/96 75.0 11.750 340.68
BS15 10266120147 09/01/96 56.7 11.490 1,055.08
BS15 10266120153 08/25/96 90.0 10.750 1,974.31
BS15 10266120187 09/26/96 32.4 9.900 341.92
BS15 10266120196 10/26/96 90.0 11.400 377.60
BS15 10266120215 08/25/96 80.0 12.950 506.32
BS15 10266120233 08/25/96 64.9 10.950 554.43
BS15 10266120264 09/25/96 75.0 9.990 1,052.20
BS15 10266120269 09/25/96 40.6 10.850 664.30
BS15 10266120276 09/01/96 74.2 13.740 287.80
BS15 10266120287 09/01/96 80.0 13.240 722.74
BS15 10266120453 08/28/96 89.9 11.150 1,117.86
BS15 10266120509 09/26/96 65.4 11.000 447.69
BS15 10266120565 08/17/96 74.1 10.390 1,377.92
BS15 10266120581 10/28/96 55.4 11.450 956.88
BS15 10266120709 08/27/96 90.0 11.650 1,235.16
BS15 10266120842 08/25/96 84.9 11.750 1,020.51
BS15 10266120997 09/28/96 81.7 12.800 450.76
BS15 10266121012 08/26/96 85.0 11.750 652.08
BS15 10266121014 09/26/96 90.0 11.150 563.75
BS15 10266121331 08/24/96 80.3 9.750 529.68
BS15 10266121425 09/17/96 84.3 11.990 372.87
BS15 10266121518 09/25/96 90.0 10.690 536.26
BS15 10266121540 09/25/96 52.3 11.490 496.64
BS15 10266121659 09/01/96 85.0 12.200 1,952.34
BS15 10266121683 10/01/96 74.9 11.990 963.09
BS15 10266121900 09/01/96 73.9 9.250 1,398.55
BS15 10266121961 08/14/96 71.9 15.350 343.65
BS15 10266122004 09/27/96 84.9 12.750 194.99
BS15 10266122194 09/17/96 84.3 12.350 391.29
BS15 10266122242 09/01/96 76.9 11.200 483.73
BS15 10266122351 09/18/96 89.0 12.200 517.98
BS15 10266122355 09/18/96 78.3 12.350 232.33
BS15 10266122360 09/18/96 74.4 13.900 655.89
BS15 10266122379 09/19/96 87.1 12.600 518.17
BS15 10266122465 09/27/96 69.9 10.990 400.61
------------------ -------------------------------------------
107 74.9 11.326 80,194.51
</TABLE>
<PAGE>
Alliance Funding Company Page 3 9/16/96
A division of Superior Bank FSB
Sale Schedule
1996-3 Class 1 - Initial Pool of Fixed Rate Mortgages - Settlement 9/23/96
<TABLE>
<CAPTION>
Zip
Sale ID Account Name Address City State Code
- -----------------------------------------------------------------------------------------------------------------------------
<C> <C> <S> <C> <C> <C> <C>
BS18 10266105573 KAVMARK STAFFAN B 399 WEST 2325 NORTH LEHI UT 84043
BS18 10266105765 FREDES GENARO 204 48TH ST #2R UNION CITY NJ 07087
BS18 10266108069 MONHEIT NEIL H 1865 EAST 23RD STREET BROOKLYN NY 11229
BS18 10266108270 CALIA VICTOR 17 KRISTI LANE LAKE GROVE NY 11755
BS18 10266109824 RHODES STANLEY P 2 HARRISON AVENUE EAST HAMPTON NY 11937
BS18 10266110293 BRANCO DANIEL M 20-22 KINGSTON STREET WEST HARTFORD CT 06119
BS18 10266110673 DEXTER JERRY E 7817 WEST MAYTIME DRIVE MAGNA UT 84044
BS18 10266110919 RASBAND KEVIN L 1907 WEST WESTERN CHARM DRIVE RIVERTON UT 84065
BS18 10266111487 CHURCH JEFFREY J 3508 JEFFERSON AVENUE OGDEN UT 84403
BS18 10266111892 BLAIR JOY 16 OLD SADDLE ROAD RIDGE NY 11961
BS18 10266111898 RAUSO RICHARD 723 CORRELL AVENUE STATEN ISLAND NY 10309
BS18 10266112277 GREENBERG SHERRIE G 1200 WOODLAWN DRIVE MARIETTA GA 30068
BS18 10266112343 CLUFF GREGGORY RYDALCH 1379 WEST 10750 SOUTH SOUTH JORDAN UT 84095
BS18 10266112928 TERRAGLIA GIOVANNI 1751 HAWAII COURT MARCO ISLAND FL 33937
BS18 10266112967 THARP WAYNE A 4879 SOUTH SOUTHRIDGE DRIVE SALT LAKE CITY UT 84118
BS18 10266113192 CARATURE DAVID 21 ROCKWOOD AVENUE ANSONIA CT 06401
BS18 10266113417 KUNARD ALLEN D 2827 WEST 11800 SOUTH RIVERTON UT 84065
BS18 10266113648 MOLLICK JAMES F 11 4TH STREET GRAPEVILLE PA 15634
BS18 10266113727 WILKINS SANDRA E 93 WALNUT HILL ROAD BETHEL CT 06801
BS18 10266113865 HALTER NANCY L 109 JASPER DRIVE SECURITY CO 80911
BS18 10266114003 CARSON CHARLOTTE E 542 PAIGE STREET SCHENECTADY NY 12307
BS18 10266114023 POWELL LAWRENCE E 2630 MAGNOLIA STREET DENVER CO 80207
BS18 10266114251 HUMPHERYS KERRY LEES 27 SOUTH SAGE DRIVE OREM UT 84058
BS18 10266114411 OXBORROW DAVID R 1878 SOUTH NEVADA AVENUE PROVO UT 84601
BS18 10266114593 IOANE OFA 1202 EAST 500 SOUTH SPANISH FORK UT 84660
BS18 10266114603 EMMETT CRAIG R 5056 WEST PARR DRIVE WEST JORDAN UT 84088
BS18 10266114872 VITIELLO EVA MARIE 76 HARRISON STREET NUTLEY NJ 07110
BS18 10266114953 CERNYAR ANGELA 42 SPIRAL ROAD HOLTSVILLE NY 11742
BS18 10266115339 LINDSEY YON H 2037 193RD AVENUE SOUTHEAST ISSAQUAH WA 98029
BS18 10266115414 SASSER MICHAEL E 121 SOUTH FAIRVIEW CIRCLE TARBORO NC 27886
BS18 10266115461 EWELL GLEN L 999 NORTH STAR CREST DRIVE SALT LAKE CITY UT 84116
BS18 10266115494 QUINN GENE J 6649 NORTH OTTAWA AVENUE CHICAGO IL 60631
BS18 10266115606 AL GHAZALI ALI 3711 NEPTUNE AVENUE BROOKLYN NY 11224
BS18 10266115679 CAMPBELL G WESLEY 222 SOUTH 250 EAST HYDE PARK UT 84318
BS18 10266115681 CORBRIDGE BLAKE W 2039 TAYLOR AVENUE OGDEN UT 84401
BS18 10266115943 ZULKA FRANCIS C 630 VENETIA ROAD VENETIA PA 15367
BS18 10266116039 COOPER JAN 1431 CUMBRES STREET NE ALBUQUERQUE NM 87112
BS18 10266116136 BARNETT MICHAEL E 2097 EL CAMINO MESETA FOUNTAIN CO 80817
BS18 10266116143 SANNAR STEVEN L 2702 SOUTH 200 WEST BOUNTIFUL UT 84010
BS18 10266116168 CHAVEZ DAVID A 1950 AMBLESIDE DRIVE COLORADO SPRINGS CO 80915
BS18 10266116310 EDWARDS DENNIS F 18572 EAST TANFORAN PLACE AURORA CO 80015
BS18 10266116355 HERNANDEZ SONIA M 505 6TH AVENUE BROOKLYN NY 11215
BS18 10266117039 CHRIMES DAVID 2201 MAY STREET PITTSBURGH PA 15235
BS18 10266117248 PRICE RICHARD J 2489 WEST PINE MEADOW PLACE SALT LAKE CITY UT 84118
BS18 10266117269 ALLEN STACEY L 5344 JULINGTON RIDGE DRIVE JACKSONVILLE FL 32258
BS18 10266117859 SELLS RUTH 5025 DEER RUN PLACE WESTERVILLE OH 43081
BS18 10266118108 BOLTON KARL J 10979 SOUTH SEGOVIA CIRCLE SANDY UT 84094
BS18 10266118172 FULMER DEBORAH L 3024 ORCHARD LANE MIDDLETOWN PA 17057
BS18 10266118228 KELLY SUSAN M PARTITION STREET EXT RENSSELAER NY 12144
BS18 10266118252 FLEEK KEVIN F 15630 156TH PLACE SOUTHEAST RENTON WA 98058
BS18 10266118373 HOWER RAY C 3505 NORTH PLAIN CITY ROAD PLAIN CITY UT 84404
BS18 10266118412 AGUILAR MIKE E 10307 CORNELIA COURT SW ALBUQUERQUE NM 87105
BS18 10266118419 FOSTER JOHN B 19042 EVERGREEN ROAD FORT MYERS FL 33912
BS18 10266118475 CHUDOBA MICHAEL L 64 BROOKSIDE STREET WILKES-BARRE PA 18705
BS18 10266118482 VUOTTO DOLORES ANN 722 CHAIN STREET NORRISTOWN PA 19401
BS18 10266118521 CARSON DENNIS J 302 SPRING STREET OSSINING NY 10562
BS18 10266118570 DIMM GEORGE P 4305 CENTRAL AVENUE HARRISBURG PA 17112
BS18 10266118639 GARNER J LARRY 520 SHAMROCK LANE CUMMING GA 30131
BS18 10266118653 MACK KARL 106 MARINGO RD EPHRATA WA 98823
BS18 10266118654 SMITH WILLIAM A 402 ELIAS DRIVE PITTSBURGH PA 15235
BS18 10266118656 JOHNSON GREGORY D 7998 RALEIGH STREET WESTMINSTER CO 80030
BS18 10266118845 DAVIS JO ANN R 215 SW 72ND PLACE OCALA FL 34476
<CAPTION>
Principal Cut-off Date First
Balance at Principal Payment Maturity Rem
Sale ID Account Origination Balance Date Date Term
- ---------------------------------------------------------------------------------------------------------------------
<C> <C> <S> <C> <C> <C> <C>
BS18 10266105573 24,000.00 23,927.98 06/07/96 05/07/11 176.15
BS18 10266105765 25,850.00 25,823.02 08/02/96 07/02/11 177.99
BS18 10266108069 47,500.00 47,493.62 07/04/96 06/04/11 177.07
BS18 10266108270 32,000.00 31,943.88 07/07/96 06/07/16 237.17
BS18 10266109824 20,750.00 20,739.79 06/06/96 05/06/11 176.12
BS18 10266110293 76,500.00 76,500.00 07/01/96 06/01/26 357.00
BS18 10266110673 32,280.00 32,174.16 06/17/96 05/17/11 176.48
BS18 10266110919 37,750.00 37,750.00 06/24/96 05/24/11 176.71
BS18 10266111487 55,000.00 55,000.00 07/05/96 06/05/16 237.11
BS18 10266111892 35,000.00 34,966.19 07/28/96 06/28/16 237.86
BS18 10266111898 15,500.00 15,488.46 07/05/96 06/05/11 177.11
BS18 10266112277 54,350.00 54,335.46 05/23/96 04/23/11 175.69
BS18 10266112343 50,000.00 49,335.24 06/13/96 05/13/11 176.35
BS18 10266112928 23,000.00 22,872.48 08/03/96 07/03/11 178.03
BS18 10266112967 23,650.00 23,606.36 07/12/96 06/12/11 177.34
BS18 10266113192 57,400.00 57,257.32 07/25/96 06/25/11 177.76
BS18 10266113417 33,600.00 33,363.02 07/05/96 06/05/11 177.11
BS18 10266113648 40,000.00 40,000.00 08/02/96 07/02/26 357.99
BS18 10266113727 15,000.00 14,860.40 08/03/96 07/03/11 178.03
BS18 10266113865 25,000.00 24,982.91 08/09/96 07/09/11 178.22
BS18 10266114003 34,200.00 34,200.00 08/03/96 07/03/11 178.03
BS18 10266114023 40,000.00 40,000.00 08/09/96 07/09/11 178.22
BS18 10266114251 56,500.00 56,288.93 07/04/96 06/04/11 177.07
BS18 10266114411 26,600.00 25,839.95 06/23/96 05/23/11 176.68
BS18 10266114593 51,250.00 50,558.61 07/01/96 06/01/11 177.00
BS18 10266114603 32,500.00 31,885.49 06/28/96 05/28/11 176.84
BS18 10266114872 137,600.00 137,368.50 07/28/96 06/28/16 237.86
BS18 10266114953 60,000.00 59,852.86 08/01/96 07/01/16 238.00
BS18 10266115339 34,150.00 34,150.00 08/02/96 07/02/16 237.99
BS18 10266115414 34,400.00 34,387.53 08/03/96 07/03/16 238.03
BS18 10266115461 31,600.00 31,513.57 07/06/96 06/06/11 177.14
BS18 10266115494 20,000.00 19,900.36 08/01/96 07/01/11 178.00
BS18 10266115606 120,000.00 119,775.39 07/25/96 06/25/11 177.76
BS18 10266115679 20,000.00 20,000.00 07/12/96 06/12/11 177.34
BS18 10266115681 23,100.00 23,015.19 07/01/96 06/01/11 177.00
BS18 10266115943 40,000.00 40,000.00 07/21/96 06/21/11 177.63
BS18 10266116039 108,750.00 108,564.68 07/24/96 06/24/11 177.73
BS18 10266116136 26,500.00 26,357.51 07/28/96 06/28/11 177.86
BS18 10266116143 51,880.00 51,765.50 07/10/96 06/10/11 177.27
BS18 10266116168 44,900.00 44,900.00 08/02/96 07/02/11 177.99
BS18 10266116310 25,000.00 24,833.66 08/01/96 07/01/11 178.00
BS18 10266116355 180,000.00 180,000.00 07/28/96 06/28/11 177.86
BS18 10266117039 25,000.00 24,997.60 07/27/96 06/27/26 357.83
BS18 10266117248 27,000.00 27,000.00 07/11/96 06/11/11 177.30
BS18 10266117269 84,800.00 84,800.00 07/25/96 06/25/11 177.76
BS18 10266117859 45,000.00 44,894.29 07/28/96 06/28/11 177.86
BS18 10266118108 66,500.00 66,335.80 07/05/96 06/05/11 177.11
BS18 10266118172 60,000.00 59,833.16 08/03/96 07/03/16 238.03
BS18 10266118228 32,750.00 32,685.52 08/08/96 07/08/11 178.19
BS18 10266118252 18,350.00 18,341.50 07/26/96 06/26/11 177.80
BS18 10266118373 11,795.00 11,737.71 07/19/96 06/19/11 177.57
BS18 10266118412 68,425.00 68,071.10 07/18/96 06/18/11 177.53
BS18 10266118419 45,000.00 44,800.37 08/08/96 07/08/11 178.19
BS18 10266118475 32,500.00 32,441.01 08/01/96 07/01/16 238.00
BS18 10266118482 38,250.00 38,102.42 07/25/96 06/25/11 177.76
BS18 10266118521 25,500.00 25,248.94 08/08/96 07/08/11 178.19
BS18 10266118570 65,600.00 65,455.59 07/25/96 06/25/16 237.76
BS18 10266118639 55,000.00 55,000.00 07/01/96 06/01/11 177.00
BS18 10266118653 85,000.00 85,000.00 07/19/96 06/19/26 357.57
BS18 10266118654 45,500.00 45,500.00 08/01/96 07/01/11 178.00
BS18 10266118656 27,000.00 27,000.00 08/09/96 07/09/11 178.22
BS18 10266118845 69,700.00 69,700.00 08/03/96 07/03/26 358.03
<CAPTION>
Original Current Scheduled
Date LTV Mortgage Payment
Sale ID Account Due Ratio Rate Int & Prin
- ---------------------------------------------------------------------------------------------
BS18 10266105573 10/07/96 81.4 12.940 264.36
BS18 10266105765 10/02/96 55.0 10.450 235.49
BS18 10266108069 09/04/96 79.9 10.650 529.49
BS18 10266108270 09/07/96 79.6 12.850 371.49
BS18 10266109824 09/06/96 74.9 12.700 224.68
BS18 10266110293 09/01/96 85.0 11.950 783.95
BS18 10266110673 09/17/96 90.0 12.350 340.76
BS18 10266110919 09/24/96 89.6 12.350 398.50
BS18 10266111487 09/05/96 73.3 14.350 697.96
BS18 10266111892 08/28/96 29.1 11.100 363.65
BS18 10266111898 09/05/96 79.9 13.700 203.31
BS18 10266112277 09/23/96 70.7 12.300 571.63
BS18 10266112343 09/13/96 74.5 13.350 566.81
BS18 10266112928 09/03/96 82.4 9.950 246.46
BS18 10266112967 09/12/96 84.9 12.390 250.39
BS18 10266113192 09/25/96 70.0 10.600 529.36
BS18 10266113417 09/05/96 81.4 10.940 318.46
BS18 10266113648 09/02/96 66.6 11.850 406.83
BS18 10266113727 09/03/96 23.4 11.200 145.12
BS18 10266113865 09/09/96 67.3 12.500 308.13
BS18 10266114003 08/03/96 60.0 12.990 378.05
BS18 10266114023 09/09/96 82.5 12.250 419.16
BS18 10266114251 10/04/96 84.8 13.700 656.06
BS18 10266114411 09/23/96 87.8 12.850 291.13
BS18 10266114593 10/01/96 85.0 13.700 595.10
BS18 10266114603 10/28/96 74.6 11.090 311.72
BS18 10266114872 09/28/96 80.9 10.200 1,346.15
BS18 10266114953 10/01/96 43.1 10.500 599.03
BS18 10266115339 09/02/96 89.8 11.650 367.72
BS18 10266115414 09/03/96 80.0 9.900 329.69
BS18 10266115461 10/06/96 84.9 10.850 297.36
BS18 10266115494 09/01/96 43.3 9.500 208.84
BS18 10266115606 09/25/96 70.5 10.990 1,141.88
BS18 10266115679 08/12/96 70.3 12.400 211.90
BS18 10266115681 10/01/96 89.9 12.340 243.67
BS18 10266115943 08/21/96 79.4 13.990 532.43
BS18 10266116039 09/24/96 75.0 10.500 994.78
BS18 10266116136 09/28/96 89.9 11.650 312.10
BS18 10266116143 09/10/96 84.9 13.700 602.41
BS18 10266116168 09/02/96 84.3 12.250 546.12
BS18 10266116310 09/01/96 79.1 10.000 268.65
BS18 10266116355 08/28/96 80.0 10.700 1,673.50
BS18 10266117039 09/27/96 67.5 10.900 236.19
BS18 10266117248 08/11/96 84.9 13.200 302.90
BS18 10266117269 08/25/96 80.0 12.600 911.62
BS18 10266117859 08/28/96 58.0 10.500 497.43
BS18 10266118108 09/05/96 89.8 12.600 714.89
BS18 10266118172 10/03/96 48.0 11.490 639.44
BS18 10266118228 09/08/96 66.7 10.000 287.40
BS18 10266118252 08/26/96 90.0 12.150 222.00
BS18 10266118373 09/19/96 89.9 12.350 144.23
BS18 10266118412 09/18/96 85.0 9.500 575.35
BS18 10266118419 09/08/96 62.5 11.350 440.49
BS18 10266118475 09/01/96 56.5 9.250 297.66
BS18 10266118482 09/25/96 69.5 11.750 386.10
BS18 10266118521 10/08/96 89.5 11.400 296.27
BS18 10266118570 09/25/96 76.6 9.650 617.92
BS18 10266118639 09/01/96 68.7 10.250 492.86
BS18 10266118653 09/19/96 80.9 9.350 705.44
BS18 10266118654 09/01/96 65.0 9.650 387.58
BS18 10266118656 09/09/96 78.1 11.450 266.35
BS18 10266118845 09/03/96 85.0 11.400 684.92
</TABLE>
<PAGE>
Alliance Funding Company Page 4 9/16/96
A division of Superior Bank FSB
Sale Schedule
1996-3 Class 1 - Initial Pool of Fixed Rate Mortgages - Settlement 9/23/96
<TABLE>
<CAPTION>
Zip
Sale ID Account Name Address City State Code
- -----------------------------------------------------------------------------------------------------------------------------
<C> <C> <S> <C> <C> <C> <C>
BS18 10266118846 LEWIS LELAND HERBERT 7135 NORTH COLUMBIA BOULEVARD PORTLAND OR 97203
BS18 10266118865 CAREY MARGOTT 5272 WEST WAKE ROBIN DRIVE WEST JORDAN UT 84084
BS18 10266118951 STALNAKER PAMELA F 7286 WEST GETTYSBURG DRIVE MAGNA UT 84044
BS18 10266118966 PANOWITZ BONNY L 5263 WERTZ ROAD HAMPSTEAD MD 21074
BS18 10266118970 TANKSLEY ROGER 20451 LOGAN AVENUE ESTERO FL 33928
BS18 10266119021 PADILLA AMADO H 4252 LOWELL BOULEVARD DENVER CO 80211
BS18 10266119022 LIDBERG SHELLY K 802 FOREST AVENUE CANON CITY CO 81212
BS18 10266119111 SWEET PAULA 5664 NORTH KINGSFORD AVENUE PARK CITY UT 84098
BS18 10266119135 GAFFAN ALAN 450 SECOND AVENUE WEST HAVEN CT 06518
BS18 10266119230 HARBERG SHAWN L 3366 SOUTH STUART STREET DENVER CO 80236
BS18 10266119245 DIXON KEVIN J 560 VAN KIRK STREET PHILADELPHIA PA 19120
BS18 10266119246 FLEURANT MAGGIE 357 EAST 95TH STREET BROOKLYN NY 11210
BS18 10266119300 MONTERO THOMAS 3 BURNS COURT GREENLAWN NY 11740
BS18 10266119310 CUNNINGHAM GRETCHEN 5638 AULD LANE HOLIDAY FL 34690
BS18 10266119432 MONK MICHAEL J 48 CONNECTICUT DRIVE PLAINFIELD CT 06374
BS18 10266119453 GOLEMAN MICHAEL F 2931 SOUTH OREGON STREET SALT LAKE CITY UT 84106
BS18 10266119556 SWEETEN CAROLYN 5031 32ND AVENUE SOUTHWEST NAPLES FL 33999
BS18 10266119588 GLENN BARBARA 6024 JEFFERSON STREET PHILADELPHIA PA 19151
BS18 10266119667 HOUSTON REMUS III 26 BROOKS TERRACE ROAD GLEN BURNIE MD 21060
BS18 10266119680 MARTINEZ EDWARD R 1604 GARWOOD DRIVE PUEBLO CO 81005
BS18 10266119700 ATWOOD ERNEST LEO 1812 LACOMBE AVENUE NEW YORK NY 10473
BS18 10266119731 KELLY RAYMOND M 70-34 57TH ROAD MASPETH NY 11378
BS18 10266119768 HOEFKE PAUL G 1208 HALL AVENUE LAKEWOOD OH 44107
BS18 10266119804 FRANZ JAMES C 2304 BROOK HAVEN LANE HINCKLEY OH 44233
BS18 10266119806 JANKEN LYNN WALTER 7232 NORTH OCTAVIA CHICAGO IL 60631
BS18 10266119819 CONNER BARBARA S 1329 NORRIS DRIVE COLUMBUS OH 43224
BS18 10266119834 SMITH BOBBIE 5418 S. HERMITAGE CHICAGO IL 60609
BS18 10266119847 FLEWELLEN CARL E 35 WEST 149TH STREET DOLTON IL 60419
BS18 10266119881 PIEPER DARREL G 3819 ELDER ISLAND LAKE IL 60042
BS18 10266119891 ROHDE JENELE M 3903 HALE LANE ISLAND LAKE IL 60042
BS18 10266119914 LICHAY STEVEN G 569 ANDY DRIVE MELROSE PARK IL 60160
BS18 10266119953 HAUSER WILLIAM G 3195 EAST MAXINE DRIVE LAYTON UT 84040
BS18 10266119955 FJELD PAUL A 1845 COLLYER STREET LONGMONT CO 80501
BS18 10266120002 HUFFAKER R DALE 79 EAST HIGHWAY 199 RUSH VALLEY UT 84069
BS18 10266120009 GARDINER A IRENE 2054 SUNRAY CIRCLE WEST LINN OR 97068
BS18 10266120036 HAGGERTY MICHAEL P 38 THOMAS ROAD SOUND BEACH NY 11789
BS18 10266120064 ROACH ROBERT OWEN 272 NORTH NEW STAR DRIVE SALT LAKE CITY UT 84116
BS18 10266120075 MENRATH STEPHEN G 11312 207TH AVENUE COURT EAST SUMNER WA 98390
BS18 10266120110 FILIPPI PETER 2441 DEVON STREET EAST MEADOW NY 11554
BS18 10266120112 GOLDBERG DARIN J 130 SE 12TH PLACE CAPE CORAL FL 33990
BS18 10266120133 CHAN HOK 18 GARRY KNOLLS STREET DANBURY CT 06810
BS18 10266120141 HILDICK ROBERT C 653 DAVE MARION ROAD DOVER(TOMS RIVER) NJ 08753
BS18 10266120183 SCHEAFFER ROBERT C 283 HANNAHSTOWN ROAD CABOT PA 16023
BS18 10266120231 BAKER WILLIAM RAY 507 NORTH 200 WEST SALT LAKE CITY UT 84103
BS18 10266120252 SCHNEIDER THOMAS M 1637 WEST CHASE UNIT 2E CHICAGO IL 60626
BS18 10266120266 MALINA MICHAEL G 6247 BOCA RIO DRIVE OAK FOREST IL 60452
BS18 10266120418 KERNODLE MICHAEL SCOTT 4232 SOUTH MARQUIS WAY SALT LAKE CITY UT 84124
BS18 10266120423 FULTON ANDREA L 787 HIGH STREET BRESSLER-STEELTON PA 17113
BS18 10266120442 DURBAK ANDRES 5700 W. ROSCOE ST. CHICAGO IL 60634
BS18 10266120540 BOGART JACKSON H 11668 OVAL DRIVE EAST LARGO FL 34644
BS18 10266120562 HEINER EMORY E JR RD2 BOX 2665 SPRING GROVE PA 17362
BS18 10266120579 VOLZKE ROY D 6720 WEST 4TH PLACE LAKEWOOD CO 80026
BS18 10266120674 PARK JUNG IHN 3730 WEST LINNEMAN GLENVIEW IL 60025
BS18 10266120684 JEFFERIES ROBERT 6853 S. LANGLEY CHICAGO IL 60637
BS18 10266120828 NEWTON WILLIAM O 524 CONCORD COURT FISHERS IN 46038
BS18 10266120888 NEAL GEORGE E 2427 94TH PLACE SOUTHEAST EVERETT WA 98208
BS18 10266120951 COHEN ISRAEL 60 STIRRUP LANE MUTTONTOWN NY 11791
BS18 10266120957 MUELLER MARK T 7605 SE 66TH PLACE PORTLAND OR 97206
BS18 10266121013 GUADNOLA DAVID R 3284 SALEM STREET AURORA CO 80011
BS18 10266121016 CASTILLO HECTOR 4878 WEST MILOS DRIVE WEST VALLEY CITY UT 84120
BS18 10266121036 RANSBOTTOM TERRY G 561 KEENE ROAD N LARGO FL 34641
BS18 10266121252 WALKER SANDRA L 3419 HARTWOOD ROAD CLEVELAND HEIGHTS OH 44112
<CAPTION>
Principal Cut-off Date First
Balance at Principal Payment Maturity Rem
Sale ID Account Origination Balance Date Date Term
- ---------------------------------------------------------------------------------------------------------------------
<C> <C> <S> <C> <C> <C> <C>
BS18 10266118846 12,300.00 12,300.00 08/03/96 07/03/11 178.03
BS18 10266118865 35,000.00 34,831.84 08/02/96 07/02/11 177.99
BS18 10266118951 38,800.00 38,714.30 07/10/96 06/10/11 177.27
BS18 10266118966 57,000.00 57,000.00 08/02/96 07/02/26 357.99
BS18 10266118970 10,000.00 10,000.00 08/09/96 07/09/11 178.22
BS18 10266119021 16,000.00 16,000.00 08/01/96 07/01/11 178.00
BS18 10266119022 57,750.00 57,472.37 08/03/96 07/03/11 178.03
BS18 10266119111 19,485.00 19,485.00 08/08/96 07/08/11 178.19
BS18 10266119135 60,000.00 60,000.00 07/28/96 06/28/26 357.86
BS18 10266119230 16,200.00 16,195.27 08/09/96 07/09/11 178.22
BS18 10266119245 12,325.00 12,160.01 07/28/96 06/28/11 177.86
BS18 10266119246 176,000.00 176,000.00 08/01/96 07/01/11 178.00
BS18 10266119300 39,000.00 39,000.00 07/21/96 06/21/16 237.63
BS18 10266119310 42,400.00 42,400.00 07/28/96 06/28/11 177.86
BS18 10266119432 13,500.00 13,500.00 08/01/96 07/01/11 178.00
BS18 10266119453 24,300.00 24,239.11 07/19/96 06/19/11 177.57
BS18 10266119556 80,750.00 80,529.98 07/26/96 06/26/26 357.80
BS18 10266119588 36,000.00 35,953.78 07/21/96 06/21/11 177.63
BS18 10266119667 46,000.00 45,865.79 08/08/96 07/08/11 178.19
BS18 10266119680 25,000.00 24,889.32 08/02/96 07/02/11 177.99
BS18 10266119700 28,000.00 27,875.31 08/01/96 07/01/11 178.00
BS18 10266119731 97,000.00 96,977.60 08/01/96 07/01/11 178.00
BS18 10266119768 89,100.00 89,058.18 08/01/96 07/01/11 178.00
BS18 10266119804 65,000.00 65,000.00 07/26/96 06/26/16 237.80
BS18 10266119806 62,600.00 62,578.77 07/25/96 06/25/16 237.76
BS18 10266119819 34,800.00 34,700.60 07/24/96 06/24/11 177.73
BS18 10266119834 62,900.00 62,900.00 08/01/96 07/01/26 358.00
BS18 10266119847 57,100.00 57,032.40 08/01/96 07/01/16 238.00
BS18 10266119881 48,000.00 47,808.52 07/24/96 06/24/11 177.73
BS18 10266119891 20,000.00 19,921.41 07/28/96 08/28/11 179.86
BS18 10266119914 16,000.00 15,957.15 08/03/96 09/03/11 180.03
BS18 10266119953 100,514.00 100,428.13 08/08/96 07/08/11 178.19
BS18 10266119955 15,000.00 14,912.24 08/02/96 07/02/11 177.99
BS18 10266120002 15,013.00 14,952.21 07/03/96 06/03/11 177.04
BS18 10266120009 120,000.00 120,000.00 08/09/96 07/09/26 358.22
BS18 10266120036 16,600.00 16,574.53 07/28/96 06/28/11 177.86
BS18 10266120064 24,500.00 24,500.00 08/03/96 07/03/11 178.03
BS18 10266120075 33,700.00 33,700.00 08/01/96 07/01/11 178.00
BS18 10266120110 39,800.00 39,737.66 08/01/96 07/01/11 178.00
BS18 10266120112 24,500.00 24,481.97 08/03/96 07/03/11 178.03
BS18 10266120133 28,000.00 27,639.85 07/26/96 06/26/11 177.80
BS18 10266120141 45,000.00 45,000.00 08/02/96 07/02/11 177.99
BS18 10266120183 69,000.00 68,878.38 08/08/96 07/08/16 238.19
BS18 10266120231 66,300.00 66,300.00 07/25/96 06/25/11 177.76
BS18 10266120252 20,000.00 19,699.07 07/27/96 06/27/11 177.83
BS18 10266120266 30,000.00 29,906.06 07/26/96 06/26/11 177.80
BS18 10266120418 40,000.00 39,870.22 07/05/96 06/05/11 177.11
BS18 10266120423 31,000.00 31,000.00 08/08/96 07/08/11 178.19
BS18 10266120442 127,000.00 127,000.00 07/17/96 06/17/11 177.50
BS18 10266120540 86,500.00 86,500.00 07/28/96 06/28/26 357.86
BS18 10266120562 85,500.00 85,140.11 08/03/96 07/03/06 118.03
BS18 10266120579 95,000.00 95,000.00 08/03/96 07/03/11 178.03
BS18 10266120674 56,000.00 55,973.62 08/10/96 07/10/26 358.26
BS18 10266120684 35,000.00 34,974.46 07/24/96 06/24/26 357.73
BS18 10266120828 90,900.00 90,680.09 07/17/96 06/17/11 177.50
BS18 10266120888 48,000.00 48,000.00 08/01/96 07/01/11 178.00
BS18 10266120951 50,000.00 50,000.00 08/09/96 07/09/16 238.22
BS18 10266120957 60,000.00 60,000.00 08/05/96 07/05/11 178.09
BS18 10266121013 19,350.00 19,336.97 08/10/96 07/10/11 178.26
BS18 10266121016 79,600.00 79,600.00 07/27/96 06/27/11 177.83
BS18 10266121036 12,500.00 12,453.55 08/01/96 07/01/11 178.00
BS18 10266121252 64,000.00 64,000.00 07/26/96 06/26/16 237.80
<CAPTION>
Original Current Scheduled
Date LTV Mortgage Payment
Sale ID Account Due Ratio Rate Int & Prin
- ---------------------------------------------------------------------------------------------
BS18 10266118846 08/03/96 79.9 14.000 163.80
BS18 10266118865 10/02/96 71.5 12.500 431.38
BS18 10266118951 09/10/96 84.9 13.700 450.53
BS18 10266118966 09/02/96 41.6 12.490 607.89
BS18 10266118970 09/09/96 21.0 13.990 133.11
BS18 10266119021 09/01/96 78.3 14.000 213.08
BS18 10266119022 10/03/96 75.0 12.000 594.02
BS18 10266119111 09/08/96 89.7 11.650 195.19
BS18 10266119135 08/28/96 80.0 14.850 751.47
BS18 10266119230 09/09/96 84.2 12.700 201.78
BS18 10266119245 09/28/96 84.9 12.250 129.15
BS18 10266119246 09/01/96 83.8 11.850 1,790.06
BS18 10266119300 08/21/96 87.7 11.000 402.55
BS18 10266119310 08/28/96 80.0 13.750 494.01
BS18 10266119432 09/01/96 87.0 11.800 160.29
BS18 10266119453 09/19/96 71.2 11.100 233.25
BS18 10266119556 09/26/96 85.0 11.990 829.98
BS18 10266119588 09/21/96 60.0 10.850 338.76
BS18 10266119667 09/08/96 41.8 9.400 477.57
BS18 10266119680 10/02/96 87.2 11.650 294.44
BS18 10266119700 10/01/96 14.5 10.800 314.74
BS18 10266119731 09/01/96 54.8 10.500 887.30
BS18 10266119768 09/01/96 90.0 11.240 864.72
BS18 10266119804 08/26/96 79.1 10.490 648.51
BS18 10266119806 09/25/96 68.3 11.250 656.83
BS18 10266119819 09/24/96 89.8 11.000 395.54
BS18 10266119834 09/01/96 85.0 11.500 622.89
BS18 10266119847 09/01/96 89.9 11.740 618.40
BS18 10266119881 08/24/96 64.0 11.490 560.43
BS18 10266119891 09/28/96 77.7 10.490 219.95
BS18 10266119914 09/03/96 75.2 10.490 175.96
BS18 10266119953 09/08/96 85.0 12.700 1,088.37
BS18 10266119955 10/02/96 73.8 11.450 174.75
BS18 10266120002 09/03/96 55.8 11.950 179.70
BS18 10266120009 09/09/96 78.9 12.850 1,313.38
BS18 10266120036 08/28/96 81.5 10.600 184.53
BS18 10266120064 09/03/96 73.6 13.990 290.10
BS18 10266120075 09/01/96 89.9 11.650 396.90
BS18 10266120110 09/01/96 89.9 11.650 468.74
BS18 10266120112 09/03/96 79.9 10.400 269.31
BS18 10266120133 09/26/96 89.9 12.000 288.01
BS18 10266120141 09/02/96 29.0 10.700 418.38
BS18 10266120183 09/08/96 84.6 9.600 647.68
BS18 10266120231 08/25/96 65.0 10.950 628.89
BS18 10266120252 09/27/96 65.4 10.490 220.96
BS18 10266120266 09/26/96 79.9 10.490 331.43
BS18 10266120418 09/05/96 77.7 12.950 504.78
BS18 10266120423 09/08/96 79.8 13.350 399.39
BS18 10266120442 09/17/96 76.0 10.250 1,138.05
BS18 10266120540 08/28/96 84.8 10.350 781.57
BS18 10266120562 09/03/96 85.8 9.900 1,125.16
BS18 10266120579 09/03/96 69.3 11.990 976.45
BS18 10266120674 09/10/96 65.7 11.200 541.78
BS18 10266120684 09/24/96 46.0 13.990 414.43
BS18 10266120828 09/17/96 84.9 12.200 949.03
BS18 10266120888 09/01/96 82.6 12.700 597.87
BS18 10266120951 09/09/96 45.0 11.200 522.92
BS18 10266120957 09/05/96 80.0 10.700 557.83
BS18 10266121013 09/10/96 80.0 13.990 257.56
BS18 10266121016 09/27/96 79.6 9.500 669.32
BS18 10266121036 10/01/96 80.0 12.650 155.29
BS18 10266121252 08/26/96 80.0 10.250 628.25
</TABLE>
<PAGE>
Alliance Funding Company Page 5 9/16/96
A division of Superior Bank FSB
Sale Schedule
1996-3 Class 1 - Initial Pool of Fixed Rate Mortgages - Settlement 9/23/96
<TABLE>
<CAPTION>
Zip
Sale ID Account Name Address City State Code
- -----------------------------------------------------------------------------------------------------------------------------
<C> <C> <S> <C> <C> <C> <C>
BS18 10266121260 SUMMERS CATHERINE A 7988 CARTER ROAD SAGAMORE HILLS OH 44067
BS18 10266121361 LAURO LINDA 205 EAST NASSAU STREET ISLIP TERRACE NY 11752
BS18 10266121372 BIRON BELINDA 9356 WEST IOWA AVENUE LAKEWOOD CO 80232
BS18 10266121526 KASTANIS ANN 11502 58TH AVENUE SW TACOMA WA 98499
BS18 10266121527 SULFARRO MICHAEL 3739 RICHARD LANE WANTAGH NY 11793
BS18 10266121529 CAREATHERS CLIFFORD G 2321 FRANKLIN STREET DENVER CO 80205
BS18 10266121568 LAMOREAUX LARRY R 8358 SOUTH 3580 WEST WEST JORDAN UT 84088
BS18 10266121640 KEELE W SCOTT 6592 WEST 3270 SOUTH WEST VALLEY CITY UT 84120
BS18 10266121654 BRUNO MARIO 4824 NORTH NOTTINGHAM CHICAGO IL 60656
BS18 10266121773 WORTHINGTON DAVID 8 OAK LANE FAIRLESS HILLS PA 19030
BS18 10266121831 HAILEY MONNA LEE 3274 SOUTH MADISON CIRCLE MAGNA UT 84044
BS18 10266121864 NAGLE DARLENE 4823 NORTH NEWCASTLE CHICAGO IL 60656
BS18 10266121917 PRITCHARD WILLIAM JR 6847 CIRCLE CREEK DRIVE NORTH PINELLAS PARK FL 34665
BS18 10266122112 BENNETT HELEN 6201 4TH STREET SOUTH SAINT PETERSBURG FL 33705
BS18 10266122206 BOWEN ARLENE A 5240 MARABOU WAY COLORADO SPRINGS CO 80911
BS18 10266122415 DOMENICK ROBERT P 22 LINCOLN AVENUE JEANNETTE PA 15644
BS18 10266122453 WALLS FREDRICK WILLIAM 2318 W ORIENT STREET TAMPA FL 33607
BS18 10266122540 MUNRO JERRY C 3632 SOUTH DEANN DRIVE WEST VALLEY CITY UT 84120
BS18 10266122548 MASUCCI ROBERT J 296 RICHMOND AVENUE AMITYVILLE NY 11701
BS18 10266122549 MICELI ANN ANGELA ROUTE 82 BOX 748 HOPEWELL JUNCTION NY 12533
BS18 10266122595 HENDRICKSON ROBERT C 3162 WEST ELMWOOD DRIVE RIVERTON UT 84065
BS18 10266122630 WATTERS EARL E 128 ELY STREET COLORADO SPRINGS CO 80911
BS18 10266122778 KINDER LARRY EUGENE 5521 SOUTH SPURRIER ROAD MURRAY UT 84107
BS18 10266122883 WATSON FRANCIS W 4404 WEST TWILIGHT DRIVE SALT LAKE CITY UT 84118
BS18 10266122885 CHRISTIANSEN CLINE 1752 SOUTH 450 WEST PROVO UT 84601
BS18 10266122900 SHUTT MICHAEL S 4167 SOUTH HOLDER DRIVE WEST VALLEY CITY UT 84120
BS18 10266123038 MACKAY RICHARD W 6 N ROBINHOOD ROAD INVERNESS FL 34450
BS18 10266123160 MATSON CHARLES J JR 2877 WEST 7268 SOUTH WEST JORDAN UT 84084
BS18 10266123163 EKERSON JAMES M 22286 FRIARS LANE SHERWOOD OR 97140
BS18 10266123252 CAUDILLO LOUIS T 1858 EAST HOLLYWOOD AVENUE SALT LAKE CITY UT 84108
BS18 10266123441 GRAY THOMAS J 5979 SOUTH GINGERWOOD COURT SALT LAKE CITY UT 84118
BS18 10266123444 OLSON BRYAN R 420 NORTH PINE STREET BURLINGTON WA 98233
BS18 10266123449 ALDER WALTER B 9219 SOUTH SOLENA WAY SANDY UT 84093
BS18 10266123815 HUTCHINS MATTHEW D 1665 SOUTH JACKSON STREET DENVER CO 80210
BS18 10266124177 MATTHEWS ROBERT D 1117 WEST 680 SOUTH OREM UT 84058
-------------------------------------------
159 Sale Total
<CAPTION>
Principal Cut-off Date First
Balance at Principal Payment Maturity Rem
Sale ID Account Origination Balance Date Date Term
- ---------------------------------------------------------------------------------------------------------------------
<C> <C> <S> <C> <C> <C> <C>
BS18 10266121260 74,000.00 73,755.77 07/26/96 06/26/16 237.80
BS18 10266121361 35,500.00 35,456.84 07/28/96 06/28/16 237.86
BS18 10266121372 16,850.00 16,850.00 08/03/96 07/03/11 178.03
BS18 10266121526 77,000.00 76,458.34 08/08/96 07/08/11 178.19
BS18 10266121527 168,000.00 166,936.37 07/25/96 06/25/11 177.76
BS18 10266121529 76,000.00 76,000.00 08/03/96 07/03/11 178.03
BS18 10266121568 80,000.00 80,000.00 08/03/96 07/03/11 178.03
BS18 10266121640 26,250.00 26,250.00 08/08/96 07/08/11 178.19
BS18 10266121654 108,000.00 108,000.00 07/26/96 06/26/11 177.80
BS18 10266121773 35,000.00 34,822.51 08/02/96 07/02/11 177.99
BS18 10266121831 31,000.00 30,809.98 07/28/96 06/28/11 177.86
BS18 10266121864 90,000.00 90,000.00 08/01/96 07/01/16 238.00
BS18 10266121917 54,600.00 54,367.38 07/28/96 06/28/16 237.86
BS18 10266122112 43,500.00 43,500.00 08/09/96 07/09/11 178.22
BS18 10266122206 20,500.00 20,500.00 08/09/96 07/09/11 178.22
BS18 10266122415 48,000.00 47,777.80 08/03/96 07/03/11 178.03
BS18 10266122453 41,800.00 41,517.69 08/08/96 07/08/11 178.19
BS18 10266122540 93,500.00 93,421.83 08/02/96 07/02/26 357.99
BS18 10266122548 95,000.00 94,591.03 08/08/96 07/08/16 238.19
BS18 10266122549 18,000.00 17,970.46 08/03/96 07/03/11 178.03
BS18 10266122595 19,880.00 19,809.08 07/19/96 06/19/11 177.57
BS18 10266122630 15,200.00 15,197.67 08/09/96 07/09/16 238.22
BS18 10266122778 20,000.00 19,986.03 07/19/96 06/19/11 177.57
BS18 10266122883 18,200.00 18,175.92 07/21/96 06/21/11 177.63
BS18 10266122885 30,000.00 29,906.40 07/24/96 06/24/11 177.73
BS18 10266122900 31,359.00 31,078.72 07/24/96 06/24/11 177.73
BS18 10266123038 20,350.00 20,229.09 08/02/96 07/02/11 177.99
BS18 10266123160 33,390.00 33,390.00 07/24/96 06/24/11 177.73
BS18 10266123163 24,750.00 24,750.00 08/03/96 07/03/11 178.03
BS18 10266123252 60,000.00 60,000.00 07/25/96 06/25/11 177.76
BS18 10266123441 20,000.00 19,932.92 07/26/96 06/26/11 177.80
BS18 10266123444 11,600.00 11,600.00 08/08/96 07/08/11 178.19
BS18 10266123449 59,000.00 58,891.61 07/26/96 06/26/11 177.80
BS18 10266123815 18,000.00 17,969.86 08/09/96 07/09/11 178.22
BS18 10266124177 11,350.00 11,348.40 08/02/96 07/02/11 177.99
--------------------------------------------------------- -------------
159 7,503,896.00 7,488,360.56 210.42
<CAPTION>
Original Current Scheduled
Date LTV Mortgage Payment
Sale ID Account Due Ratio Rate Int & Prin
- ---------------------------------------------------------------------------------------------
BS18 10266121260 09/26/96 64.9 10.500 738.80
BS18 10266121361 09/28/96 89.9 11.400 376.14
BS18 10266121372 09/03/96 82.5 12.700 209.88
BS18 10266121526 09/08/96 69.5 11.200 884.87
BS18 10266121527 09/25/96 80.0 10.700 1,561.94
BS18 10266121529 09/03/96 80.8 9.900 661.35
BS18 10266121568 09/03/96 84.2 9.900 696.15
BS18 10266121640 09/08/96 90.0 11.650 262.96
BS18 10266121654 08/26/96 67.0 10.000 947.78
BS18 10266121773 10/02/96 78.4 11.200 338.61
BS18 10266121831 09/28/96 89.8 11.250 357.23
BS18 10266121864 09/01/96 45.9 11.490 959.17
BS18 10266121917 09/28/96 70.0 9.950 525.09
BS18 10266122112 09/09/96 64.9 13.500 498.25
BS18 10266122206 09/09/96 69.5 12.750 222.77
BS18 10266122415 10/03/96 80.0 11.200 464.38
BS18 10266122453 10/08/96 53.2 9.950 447.91
BS18 10266122540 10/02/96 85.0 12.200 976.17
BS18 10266122548 10/08/96 72.3 11.750 1,029.52
BS18 10266122549 09/03/96 11.7 10.250 196.19
BS18 10266122595 09/19/96 89.9 12.200 241.16
BS18 10266122630 09/09/96 74.2 10.750 154.31
BS18 10266122778 09/19/96 72.9 11.950 239.39
BS18 10266122883 09/21/96 71.1 14.700 251.00
BS18 10266122885 09/24/96 75.6 11.750 355.24
BS18 10266122900 09/24/96 81.7 12.350 383.45
BS18 10266123038 10/02/96 79.9 12.400 249.50
BS18 10266123160 08/24/96 79.9 15.350 475.35
BS18 10266123163 09/03/96 83.7 12.700 267.99
BS18 10266123252 08/25/96 66.0 13.850 793.01
BS18 10266123441 09/26/96 74.0 12.950 252.39
BS18 10266123444 09/08/96 80.0 14.490 141.96
BS18 10266123449 09/26/96 45.4 13.850 779.79
BS18 10266123815 09/09/96 84.4 12.700 224.20
BS18 10266124177 09/02/96 84.8 13.200 145.10
------------------ -------------------------------------------
159 74.7 11.491 78,478.71
</TABLE>
<PAGE>
Alliance Funding Company Page 6 9/16/96
A division of Superior Bank FSB
Sale Schedule
1996-3 Class 1 - Initial Pool of Fixed Rate Mortgages - Settlement 9/23/96
<TABLE>
<CAPTION>
Zip
Sale ID Account Name Address City State Code
- -----------------------------------------------------------------------------------------------------------------------------
<C> <C> <S> <C> <C> <C> <C>
BS19 10266097161 GIDIUS THOMAS J 23 RUNDELANE BLOOMFIELD CT 06002
BS19 10266107736 TVEITMOE MILDRED E 7150 SOUTH 2180 WEST WEST JORDAN UT 84084
BS19 10266108116 AZERA CANDIDO L S 2535 WEST BRUCEMONT DRIVE SALT LAKE CITY UT 84118
BS19 10266108175 SECURDA KERRICK 301 WELLINGTON AVENUE LINCOLN PARK PA 19608
BS19 10266108177 HEBRON EARLENE R 13238 HIGHLAND ROAD HIGHLAND MD 20777
BS19 10266110023 WELCH PEARL 425 BEACH 44TH STREET FAR ROCKAWAY NY 11691
BS19 10266110055 MCCORMICK GRACE ROMANO 53 IRMA AVENUE PORT WASHINGTON NY 11050
BS19 10266110104 PERETZ DANIEL 244 MONAHAN AVENUE STATEN ISLAND NY 10314
BS19 10266110846 BAXTER DAWN 62 PAERDEGAT 2ND STREET BROOKLYN NY 11236
BS19 10266111119 HOHENBERGER ROBERT L 1646 FEUEREISEN AVENUE BOHEMIA NY 11716
BS19 10266111397 VEATCH EDWARD 1176 WEST 1300 NORTH OREM UT 84057
BS19 10266112095 NESTOPOULOS IKE 201 HUDSON STREET ITHACA NY 14850
BS19 10266112112 KNIGHTLY JOHN F JR RD # 4 BOX 44 A KITTANNING PA 16201
BS19 10266112523 WHEELER THOMAS LEE 5022 OHIO AVENUE HARRISBURG PA 17109
BS19 10266112717 WILLIAMS PATRICIA C 514 SOUTH 6TH AVENUE MOUNT VERNON NY 10550
BS19 10266112837 MILLER ROBERT G 9003 GERONIMO BEULAH CO 81023
BS19 10266113355 HELLER LEE 29 BARRISTER LANE MANALAPAN NJ 07726
BS19 10266113719 DUBLIN WINSTON 644 WARWICK STREET BROOKLYN NY 11207
BS19 10266114022 KINZY DOUGLAS H 5299 CUBMONT DRIVE EVERGREEN CO 80439
BS19 10266114381 CLARK PATRICIA A 31 ROSS LANE EAST NORWICH NY 11732
BS19 10266114506 WALTON JAMES 10639 SOUTH INDIANA AVENUE CHICAGO IL 60628
BS19 10266114548 KOSKELA JOHN A 1415 SAGINAW STREET SOUTH SALEM OR 97302
BS19 10266114753 PICINIC JOHN 15 LINCOLN STREET LITTLE FERRY NJ 07643
BS19 10266115154 DURANT TOMMY J 12805 W 23RD AVENUE GOLDEN CO 80401
BS19 10266115197 ROSAMILIA ANNA MARIA 7 PROSPECT PLACE SPRINGFIELD NJ 07081
BS19 10266115277 STEVENSON JOHN P 40 EAST 5TH STREET NEW CASTLE DE 19720
BS19 10266115564 KOEPKA RUSSELL S 4515 MARIE DRIVE HAMBURG NY 14075
BS19 10266115595 MORGAN GARY 8471 FRENCH HILL ROAD NAPLES NY 14512
BS19 10266115615 PERLICK JERRY L 2370 FLORENCE STREET AURORA CO 80010
BS19 10266115701 DAHLBERG ROGER TIMOTHY 130 PLANTATION DRIVE SHARPSBURG GA 30277
BS19 10266115807 KUCHYNSKAS LOUISE 2416 WOODLAND AVENUE WANTAGH NY 11793
BS19 10266115957 NELSON LARRY R 23602 N 81ST STREET SCOTTSDALE AZ 85255
BS19 10266116073 MUNNELLY MICHAEL 117 ABBOTT STREET STATEN ISLAND NY 10305
BS19 10266116258 JACOBSEN KAREN ELIZABETH 69 RICHMOND AVENUE AMITYVILLE NY 11701
BS19 10266116295 MORENO LAURA 2533 E TOWNER ST TUCSON AZ 85716
BS19 10266116375 LEYVA CHARLES R SR 3721 AZALEA STREET PUEBLO CO 81005
BS19 10266116981 MITCHELL WILLIAM C JR 85 BERKSHIRE ROAD WEST BABYLON NY 11704
BS19 10266117148 SOUTHERLAND MICHAEL D 1618 WEST 67TH AVENUE NORTH PHILADELPHIA PA 19126
BS19 10266117268 QUILES DONNA M 123 FRANKLIN AVENUE STRATFORD CT 06497
BS19 10266117790 VANCE BEVERLY 1561 EAST 105TH STREET CLEVELAND OH 44106
BS19 10266118009 SCULL JANE M 1505 WEST AVENUE BEACH HAVEN NJ 08008
BS19 10266118019 SHIELDS DEIRDRE 798 LOGAN STREET BROOKLYN NY 11201
BS19 10266118062 DEPASQUALE LOUIS J 9 REMSEN CIRCLE YONKERS NY 10710
BS19 10266118078 DECREDICO PATRICIA 407 GASKILL STREET PHILADELPHIA PA 19147
BS19 10266118180 HENNELLY MICHAEL J III 2168 UNRUH AVENUE PHILADELPHIA PA 19149
BS19 10266118204 RAMIREZ JORGE P 233 N 25TH STREET SAN JOSE CA 95116
BS19 10266118288 STRICKLAND FREDERICK 133-11 133RD AVENUE SOUTH OZONE PARK NY 11420
BS19 10266118345 SKINNER ERIC J 5525 EAST SHANGRI LA ROAD SCOTTSDALE AZ 85254
BS19 10266118350 FULLER PATRICIA ANN 916 FIGUEROA STREET FOLSOM CA 95630
BS19 10266118399 HALES NICHOLAS E 1948 EAST PRINCETON SALT LAKE CITY UT 84108
BS19 10266118409 TREZEVANT ALPHONSO B 3717 GENERAL ARNOLD ST NE ALBUQUERQUE NM 87111
BS19 10266118532 DEAN RICHARD H 6663 BUENA VISTA DRIVE UINTAH UT 84405
BS19 10266118685 LEVAD DANIEL H 6888 SOUTH RICHFIELD STREET AURORA CO 80016
BS19 10266118706 HANDLER DAVID W 803 SOUTHEAST 32ND AVENUE HILLSBORO OR 97123
BS19 10266118717 ICCARI ROBERT 43 HEATHERFIELD ROAD VALLEY STREAM NY 11581
BS19 10266118777 TOFT DAVID A 2 NORTH WALNUT CIRCLE BERLIN TOWNSHIP NJ 08091
BS19 10266118843 CALVERT STEPHEN EUGENE 767 CUMBERLAND ROAD ATLANTA GA 30306
BS19 10266118849 DUSANJH JOGA S 1912 W MISSOURI AVE PHOENIX AZ 85015
BS19 10266118904 DOBSON GORDON M 3253 WEST 133RD AVENUE BROOMFIELD CO 80020
BS19 10266118943 CHIVERALL ARTHUR L 6690 SOUTH 300 EAST MIDVALE UT 84047
BS19 10266119040 IZZO ROBERT G 516 MULBERRY LANE WEST HEMPSTEAD NY 11552
BS19 10266119164 GODFREY GRANT L 1436 HILLTOP DRIVE LONGMONT CO 80501
<CAPTION>
Principal Cut-off Date First
Balance at Principal Payment Maturity Rem
Sale ID Account Origination Balance Date Date Term
- ---------------------------------------------------------------------------------------------------------------------
<C> <C> <S> <C> <C> <C> <C>
BS19 10266097161 50,000.00 49,761.43 02/16/96 01/16/11 172.47
BS19 10266107736 39,000.00 38,842.80 05/15/96 04/15/11 175.43
BS19 10266108116 28,900.00 28,691.43 04/12/96 03/12/11 174.31
BS19 10266108175 112,500.00 112,399.83 06/03/96 05/03/11 176.02
BS19 10266108177 127,500.00 127,038.92 08/03/96 07/03/16 238.03
BS19 10266110023 58,500.00 58,333.19 07/27/96 06/27/11 177.83
BS19 10266110055 60,200.00 60,200.00 07/19/96 06/19/16 237.57
BS19 10266110104 33,900.00 33,900.00 07/03/96 06/03/11 177.04
BS19 10266110846 24,500.00 24,418.76 07/26/96 06/26/11 177.80
BS19 10266111119 127,200.00 126,817.53 07/17/96 06/17/11 177.50
BS19 10266111397 12,500.00 12,466.24 08/01/96 07/01/11 178.00
BS19 10266112095 74,900.00 74,900.00 07/05/96 06/05/11 177.11
BS19 10266112112 42,000.00 42,000.00 08/03/96 07/03/16 238.03
BS19 10266112523 75,200.00 75,149.88 07/27/96 06/27/11 177.83
BS19 10266112717 27,420.00 27,418.12 07/17/96 06/17/11 177.50
BS19 10266112837 10,500.00 10,243.59 08/10/96 07/10/11 178.26
BS19 10266113355 40,700.00 40,653.28 07/19/96 06/19/11 177.57
BS19 10266113719 47,700.00 47,700.00 06/17/96 05/17/16 236.48
BS19 10266114022 64,490.00 64,490.00 08/09/96 07/09/11 178.22
BS19 10266114381 63,715.00 63,598.21 07/26/96 06/26/16 237.80
BS19 10266114506 84,000.00 83,909.03 08/09/96 07/09/11 178.22
BS19 10266114548 118,125.00 118,125.00 07/24/96 06/24/11 177.73
BS19 10266114753 96,850.00 96,639.94 07/26/96 06/26/11 177.80
BS19 10266115154 31,900.00 31,900.00 07/18/96 06/18/11 177.53
BS19 10266115197 120,000.00 120,000.00 07/26/96 06/26/11 177.80
BS19 10266115277 25,100.00 25,100.00 07/28/96 06/28/11 177.86
BS19 10266115564 76,000.00 75,943.65 07/26/96 06/26/26 357.80
BS19 10266115595 68,800.00 68,705.00 07/28/96 06/28/26 357.86
BS19 10266115615 13,730.00 13,698.82 08/15/96 07/15/11 178.42
BS19 10266115701 40,000.00 40,000.00 07/11/96 06/11/11 177.30
BS19 10266115807 100,000.00 99,990.20 08/01/96 07/01/11 178.00
BS19 10266115957 31,650.00 31,581.14 07/18/96 06/18/11 177.53
BS19 10266116073 43,500.00 43,500.00 06/21/96 05/21/11 176.61
BS19 10266116258 80,000.00 79,988.97 08/09/96 07/09/11 178.22
BS19 10266116295 11,800.00 11,752.54 07/17/96 06/17/11 177.50
BS19 10266116375 52,000.00 51,991.45 07/24/96 06/24/16 237.73
BS19 10266116981 44,000.00 44,000.00 08/01/96 07/01/16 238.00
BS19 10266117148 40,000.00 40,000.00 07/21/96 06/21/16 237.63
BS19 10266117268 77,600.00 77,529.38 07/21/96 06/21/11 177.63
BS19 10266117790 27,500.00 27,500.00 08/12/96 07/12/16 238.32
BS19 10266118009 40,000.00 39,768.01 07/10/96 06/10/11 177.27
BS19 10266118019 46,500.00 46,453.92 07/07/96 06/07/16 237.17
BS19 10266118062 50,000.00 49,832.98 07/24/96 06/24/11 177.73
BS19 10266118078 43,000.00 43,000.00 08/09/96 07/09/11 178.22
BS19 10266118180 72,000.00 71,858.00 07/13/96 06/13/11 177.37
BS19 10266118204 153,000.00 152,939.76 07/12/96 06/12/11 177.34
BS19 10266118288 106,200.00 106,200.00 07/11/96 06/11/26 357.30
BS19 10266118345 244,000.00 244,000.00 07/10/96 06/10/11 177.27
BS19 10266118350 141,000.00 140,426.24 07/14/96 06/14/11 177.40
BS19 10266118399 33,100.00 33,100.00 07/11/96 06/11/11 177.30
BS19 10266118409 24,965.00 24,874.75 07/19/96 06/19/11 177.57
BS19 10266118532 34,000.00 33,962.25 07/18/96 06/18/11 177.53
BS19 10266118685 41,500.00 41,500.00 08/03/96 07/03/11 178.03
BS19 10266118706 41,600.00 41,440.88 08/15/96 07/15/11 178.42
BS19 10266118717 38,000.00 37,648.31 07/21/96 06/21/11 177.63
BS19 10266118777 75,200.00 75,200.00 08/01/96 07/01/26 358.00
BS19 10266118843 40,600.00 40,477.90 07/17/96 06/17/11 177.50
BS19 10266118849 69,700.00 69,531.27 07/24/96 06/24/26 357.73
BS19 10266118904 38,500.00 38,372.08 07/24/96 06/24/11 177.73
BS19 10266118943 37,300.00 37,249.98 07/12/96 06/12/11 177.34
BS19 10266119040 80,000.00 80,000.00 07/21/96 06/21/11 177.63
BS19 10266119164 140,000.00 140,000.00 08/15/96 07/15/26 358.42
<CAPTION>
Original Current Scheduled
Date LTV Mortgage Payment
Sale ID Account Due Ratio Rate Int & Prin
- ---------------------------------------------------------------------------------------------
BS19 10266097161 09/16/96 83.0 9.500 420.43
BS19 10266107736 08/15/96 40.2 9.400 404.90
BS19 10266108116 09/12/96 89.5 11.940 345.73
BS19 10266108175 09/03/96 75.0 9.990 986.44
BS19 10266108177 10/03/96 85.0 8.550 1,110.51
BS19 10266110023 08/27/96 65.0 10.700 543.89
BS19 10266110055 09/19/96 80.0 13.500 726.84
BS19 10266110104 09/03/96 89.9 11.940 347.13
BS19 10266110846 09/26/96 89.7 11.990 293.88
BS19 10266111119 09/17/96 80.0 10.850 1,196.96
BS19 10266111397 10/01/96 80.0 14.400 152.08
BS19 10266112095 08/05/96 70.0 9.500 629.80
BS19 10266112112 09/03/96 70.0 9.900 402.53
BS19 10266112523 09/27/96 80.0 10.990 715.58
BS19 10266112717 09/17/96 89.8 11.000 261.13
BS19 10266112837 11/10/96 85.0 12.250 127.71
BS19 10266113355 09/19/96 84.9 12.900 512.28
BS19 10266113719 08/17/96 35.3 11.750 516.93
BS19 10266114022 09/09/96 84.9 12.700 698.30
BS19 10266114381 09/26/96 90.0 11.400 675.09
BS19 10266114506 09/09/96 84.8 11.500 831.84
BS19 10266114548 08/24/96 75.0 12.000 1,215.05
BS19 10266114753 08/26/96 65.0 10.950 1,097.76
BS19 10266115154 09/18/96 89.9 11.650 319.56
BS19 10266115197 09/26/96 70.5 12.100 1,243.58
BS19 10266115277 08/28/96 84.9 12.900 275.70
BS19 10266115564 09/26/96 76.0 12.600 817.02
BS19 10266115595 09/28/96 80.0 10.400 624.20
BS19 10266115615 09/15/96 79.9 14.000 162.68
BS19 10266115701 09/11/96 84.2 13.200 448.74
BS19 10266115807 09/01/96 60.6 11.990 1,027.84
BS19 10266115957 09/18/96 85.0 12.700 342.71
BS19 10266116073 09/21/96 89.9 11.990 447.11
BS19 10266116258 09/09/96 37.2 11.500 792.23
BS19 10266116295 09/17/96 79.9 13.990 157.07
BS19 10266116375 08/24/96 65.0 14.000 646.63
BS19 10266116981 09/01/96 80.0 13.990 546.83
BS19 10266117148 09/21/96 80.0 14.200 503.23
BS19 10266117268 09/21/96 80.0 11.450 765.51
BS19 10266117790 08/12/96 55.0 11.990 302.61
BS19 10266118009 09/10/96 18.6 10.990 454.39
BS19 10266118019 09/07/96 77.4 10.500 464.25
BS19 10266118062 09/24/96 46.9 10.400 453.64
BS19 10266118078 09/09/96 23.3 9.900 374.18
BS19 10266118180 09/13/96 80.0 9.900 626.54
BS19 10266118204 09/12/96 82.7 13.050 1,698.47
BS19 10266118288 09/11/96 90.0 11.700 1,067.93
BS19 10266118345 09/10/96 80.0 10.700 2,268.53
BS19 10266118350 09/14/96 64.6 10.950 1,598.18
BS19 10266118399 09/11/96 90.0 12.600 355.83
BS19 10266118409 09/19/96 80.0 12.950 315.05
BS19 10266118532 09/18/96 84.8 13.200 381.43
BS19 10266118685 09/03/96 41.8 11.200 476.91
BS19 10266118706 09/15/96 81.1 12.250 505.98
BS19 10266118717 09/21/96 81.5 12.500 468.36
BS19 10266118777 09/01/96 73.7 10.990 715.58
BS19 10266118843 09/17/96 73.8 13.100 452.29
BS19 10266118849 09/24/96 85.0 12.200 727.69
BS19 10266118904 09/24/96 79.3 10.400 423.20
BS19 10266118943 09/12/96 36.2 13.100 474.39
BS19 10266119040 09/21/96 55.1 12.050 825.97
BS19 10266119164 09/15/96 80.0 12.850 1,532.28
</TABLE>
<PAGE>
Alliance Funding Company Page 7 9/16/96
A division of Superior Bank FSB
Sale Schedule
1996-3 Class 1 - Initial Pool of Fixed Rate Mortgages - Settlement 9/23/96
<TABLE>
<CAPTION>
Zip
Sale ID Account Name Address City State Code
- -----------------------------------------------------------------------------------------------------------------------------
<C> <C> <S> <C> <C> <C> <C>
BS19 10266119165 BARRY SEAN L 1969 BEACON COURT BOULDER CO 80303
BS19 10266119170 NEUS CRAIG SCOTT JR 1602 3RD AVENUE SE RUSKIN FL 33570
BS19 10266119317 ROSAS MANUEL A 7430 SW 130TH AVENUE MIAMI FL 33183
BS19 10266119345 CHRISTENSEN SHAWN D 11959 SOUTH ASPEN RIDGE ROAD SANDY UT 84094
BS19 10266119358 WAGNER HERBERT M ROUTE 22 NEW LEBANON NY 12125
BS19 10266119384 SCANLON NANCY L 2064 BRUCE LANE NORTH MERRICK NY 11566
BS19 10266119406 URQUHART BERNETTA 167 ARCHER AVENUE MOUNT VERNON NY 10550
BS19 10266119446 CLUFF WILLIAM J 640 SOUTH ORCHARD DRIVE BOUNTIFUL UT 84010
BS19 10266119512 HORVATH KENNETH J 3934 E PICCADILLY ROAD #21 PHOENIX AZ 85018
BS19 10266119580 SCHWARZ-FIELDS LINDA A 27 CLAY STREET HUNTINGTON STATION NY 11746
BS19 10266119606 LIETKE GARY E 810 NW 178TH AVENUE BEAVERTON OR 97006
BS19 10266119626 BRYSON LEE ANN 2147 WEST 12360 SOUTH RIVERTON UT 84065
BS19 10266119676 SIMMONS OZIE B 5814 OLIVER STREET JACKSONVILLE FL 32211
BS19 10266119699 ROBERTSON RANAE J 3399 SOUTH SQUIREWOOD DRIVE WEST VALLEY CITY UT 84120
BS19 10266119717 VAUGHAN MILDRED A 1448 NORTH WANAMAKER STREET PHILADELPHIA PA 19131
BS19 10266119757 DILLON DIANA F 3569 INDEPENDENCE ROAD CLEVELAND OH 44105
BS19 10266119823 NICOLELLA FRANK J 460 GILBERT DRIVE WOOD DALE IL 60191
BS19 10266119868 STAKE SUSAN D 545 PRICE AVENUE CALUMET CITY IL 60409
BS19 10266119887 HARRIER JOHN D 16671 COLLINGHAM DETROIT MI 48205
BS19 10266119904 GURKO RICHARD A 3703 WEST 39TH STREET CLEVELAND OH 44109
BS19 10266119931 SALISBURY DOLORES A 741 WARWICK AVENUE BROOKLYN NY 11207
BS19 10266119972 STEVENS JAN 5991 SOUTH OAK WAY LITTLETON CO 80127
BS19 10266119990 STANGER MARK D 3851 WEST 2200 NORTH PLAIN CITY UT 84404
BS19 10266120021 HAUNER BRYAN J 22 ARRAWANNA STREET COLORADO SPRINGS CO 80909
BS19 10266120025 ROCK MICHAEL 721-723 KARLOV STREET FORT MYERS FL 33916
BS19 10266120031 CUSAT PETER F 10356 BELLTOWER STREET SPRING HILL FL 34608
BS19 10266120072 PULLENS WALTER W 148 S AIRPORT ROAD TAVERNIER FL 33070
BS19 10266120210 DUM DEAN E 106 E MAIN STREET NEW BLOOMFIELD PA 17068
BS19 10266120315 BOEH ROBERT E III 412 SOUTH 8TH STREET WILMINGTON NC 28401
BS19 10266120385 TKACH DAVID J 22 KNEEN STREET EXT SHELTON CT 06484
BS19 10266120419 PERRINE MIKUL T 5292 SOUTH PARISH DRIVE SALT LAKE CITY UT 84118
BS19 10266120432 KOENIG DOUGLAS C 5335 SOUTH 2675 WEST ROY UT 84067
BS19 10266120458 SMITH ANGELICA L 2125 CHALMERS ROAD COLORADO SPRINGS CO 80910
BS19 10266120475 BOYD HARRY EMERSON 31 23 97 STREET EAST ELMHURST NY 11369
BS19 10266120485 FERRIE ELIZABETH 295 WABASH AVENUE LANSDOWNE PA 19050
BS19 10266120511 CONRAD ALAN W 8725 ALTA VISTA DRIVE ARVADA CO 80003
BS19 10266120683 SPORNY JUDITH K 330 PARK DRIVE GLENWOOD IL 60425
BS19 10266120955 PLAZA CARLOS R 52 BLACKBERRY DRIVE STAMFORD CT 06903
BS19 10266120971 SPICER JACK W 312 WEST 750 NORTH BRIGHAM CITY UT 84302
BS19 10266120980 BASTONE FRANK L 8 YALE DRIVE NEW CITY NY 10956
BS19 10266120989 BATTILLO JAMES A 45 WOODLAND STREET LAKE RONKONKOMA NY 11779
BS19 10266120991 NOVAK TIMOTHY LEE 42 BUTTERFLY DRIVE HAUPPAUGE NY 11788
BS19 10266121130 MCVEY DONNA M 3066 ARAMINGO AVENUE PHILADELPHIA PA 19134
BS19 10266121149 HENRY ALTAMONT 109-65 135TH STREET OZONE PARK NY 11420
BS19 10266121153 TAYLOR JON SCOTT 517 WEST 1000 NORTH PLEASANT GROVE UT 84062
BS19 10266121185 TRUPP ROBIN S 620 RIVIERA DRIVE TAMPA FL 33606
BS19 10266121279 JOHNSON EULA M 3530 ELECTRIC DETROIT MI 48217
BS19 10266121329 RUYBAL TAMERA RAE 3898 WEST HOLYOKE DRIVE SOUTH JORDAN UT 84095
BS19 10266121339 SHUMAKER JACOB FRANKLIN 9098 HOLLY COURT LIBERTYTOWN MD 21762
BS19 10266121345 ALBANEZE TONICA 161 CHERRY STREET NORTHPORT NY 11768
BS19 10266121354 CANADA SIRI K 5393 SOUTH PINE ROAD EVERGREEN CO 80439
BS19 10266121363 ROBERTS DONALD R 2707 BRACKENRIDGE STREET PITTSBURGH PA 15219
BS19 10266121405 THOMAS FREDERICK L III 127 LAWRENCE AVENUE INWOOD NY 11696
BS19 10266121427 JACKSON DELLA 440 BERRIMAN STREET BROOKLYN NY 11208
BS19 10266121452 GIBSON WILLIE RAY JR 183-03 ARCADE AVENUE SAINT ALBANS NY 11412
BS19 10266121481 WADDLE MARY K 10803 ROUNDVIEW LANE TAMPA FL 33624
BS19 10266121485 NAJPHOR JOSEPH 1323 WINDSOR WAY TAMPA FL 33619
BS19 10266121489 WAGGONER JEFFREY A 948 THOMPSON BOULEVARD BALTIMORE MD 21221
BS19 10266121494 HAMBLIN ENID 1102 CARROLL STREET BROOKLYN NY 11210
BS19 10266121508 BROWN KAREN L 604 16TH AVENUE WEST PALMETTO FL 34221
BS19 10266121514 KATZ FRANK S 6023 19TH STREET NORTHEAST SAINT PETERSBURG FL 33703
BS19 10266121534 MCCLELLAND DAVID A 16 SCHOOL STREET COAL CENTER PA 15423
<CAPTION>
Principal Cut-off Date First
Balance at Principal Payment Maturity Rem
Sale ID Account Origination Balance Date Date Term
- ---------------------------------------------------------------------------------------------------------------------
<C> <C> <S> <C> <C> <C> <C>
BS19 10266119165 39,000.00 39,000.00 07/20/96 06/20/11 177.60
BS19 10266119170 59,500.00 59,113.71 08/10/96 07/10/16 238.26
BS19 10266119317 16,400.00 16,400.00 08/15/96 07/15/16 238.42
BS19 10266119345 21,980.00 21,788.63 07/18/96 06/18/11 177.53
BS19 10266119358 60,000.00 60,000.00 08/02/96 07/02/16 237.99
BS19 10266119384 67,000.00 64,850.43 08/01/96 07/01/11 178.00
BS19 10266119406 48,000.00 47,849.70 08/08/96 07/08/11 178.19
BS19 10266119446 22,000.00 21,893.04 07/21/96 06/21/11 177.63
BS19 10266119512 27,300.00 27,109.51 07/25/96 06/25/11 177.76
BS19 10266119580 46,800.00 46,777.64 07/24/96 06/24/16 237.73
BS19 10266119606 33,441.00 33,441.00 08/09/96 07/09/11 178.22
BS19 10266119626 47,391.00 47,285.86 08/01/96 07/01/11 178.00
BS19 10266119676 49,500.00 49,311.38 08/02/96 07/02/16 237.99
BS19 10266119699 15,041.00 15,041.00 08/08/96 07/08/11 178.19
BS19 10266119717 15,000.00 14,919.72 08/10/96 07/10/06 118.26
BS19 10266119757 27,300.00 26,939.12 07/28/96 06/28/16 237.86
BS19 10266119823 145,600.00 145,442.66 07/25/96 06/25/26 357.76
BS19 10266119868 28,000.00 27,854.68 07/28/96 06/28/11 177.86
BS19 10266119887 51,000.00 50,983.10 07/26/96 06/26/16 237.80
BS19 10266119904 37,400.00 37,397.38 08/09/96 07/09/16 238.22
BS19 10266119931 155,700.00 155,667.92 08/15/96 07/15/11 178.42
BS19 10266119972 14,494.00 14,402.89 08/08/96 07/08/11 178.19
BS19 10266119990 49,300.00 49,286.01 07/21/96 06/21/11 177.63
BS19 10266120021 26,450.00 26,356.04 08/15/96 07/15/11 178.42
BS19 10266120025 38,500.00 38,482.24 08/02/96 07/02/11 177.99
BS19 10266120031 61,200.00 61,200.00 08/01/96 07/01/26 358.00
BS19 10266120072 60,000.00 60,000.00 08/02/96 07/02/11 177.99
BS19 10266120210 93,500.00 93,015.46 07/21/96 06/21/11 177.63
BS19 10266120315 45,500.00 45,500.00 08/03/96 07/03/11 178.03
BS19 10266120385 39,100.00 38,947.75 07/20/96 06/20/11 177.60
BS19 10266120419 23,000.00 23,000.00 08/03/96 07/03/11 178.03
BS19 10266120432 27,283.00 27,283.00 08/08/96 07/08/11 178.19
BS19 10266120458 58,400.00 58,357.70 07/24/96 06/24/16 237.73
BS19 10266120475 164,900.00 164,900.00 08/10/96 07/10/26 358.26
BS19 10266120485 22,500.00 22,433.80 08/01/96 07/01/11 178.00
BS19 10266120511 18,000.00 17,993.88 08/09/96 07/09/11 178.22
BS19 10266120683 76,400.00 76,400.00 08/03/96 07/03/26 358.03
BS19 10266120955 68,100.00 67,469.85 08/08/96 07/08/11 178.19
BS19 10266120971 24,000.00 24,000.00 08/08/96 07/08/11 178.19
BS19 10266120980 53,200.00 52,283.80 08/02/96 07/02/11 177.99
BS19 10266120989 48,000.00 47,822.08 07/28/96 06/28/11 177.86
BS19 10266120991 108,700.00 108,054.78 08/01/96 07/01/11 178.00
BS19 10266121130 23,473.00 23,433.26 08/05/96 07/05/11 178.09
BS19 10266121149 50,000.00 50,000.00 08/09/96 07/09/16 238.22
BS19 10266121153 35,700.00 35,536.59 08/08/96 07/08/11 178.19
BS19 10266121185 106,800.00 106,800.00 08/10/96 07/10/16 238.26
BS19 10266121279 31,500.00 31,318.85 07/24/96 06/24/11 177.73
BS19 10266121329 53,730.00 53,701.80 08/15/96 07/15/11 178.42
BS19 10266121339 120,000.00 120,000.00 07/24/96 06/24/26 357.73
BS19 10266121345 30,000.00 29,905.63 08/08/96 07/08/11 178.19
BS19 10266121354 70,000.00 70,000.00 07/28/96 06/28/11 177.86
BS19 10266121363 31,200.00 31,096.14 08/16/96 07/16/11 178.45
BS19 10266121405 16,000.00 16,000.00 08/01/96 07/01/11 178.00
BS19 10266121427 85,250.00 85,250.00 08/09/96 07/09/16 238.22
BS19 10266121452 130,000.00 129,623.58 08/16/96 07/16/11 178.45
BS19 10266121481 11,400.00 11,317.72 08/10/96 07/10/11 178.26
BS19 10266121485 29,250.00 29,250.00 08/03/96 07/03/11 178.03
BS19 10266121489 73,000.00 72,982.85 08/10/96 07/10/16 238.26
BS19 10266121494 75,000.00 74,876.41 08/12/96 07/12/11 178.32
BS19 10266121508 14,250.00 14,208.15 08/15/96 07/15/11 178.42
BS19 10266121514 26,400.00 26,400.00 07/27/96 06/27/11 177.83
BS19 10266121534 32,250.00 32,250.00 08/11/96 07/11/11 178.29
<CAPTION>
Original Current Scheduled
Date LTV Mortgage Payment
Sale ID Account Due Ratio Rate Int & Prin
- ---------------------------------------------------------------------------------------------
BS19 10266119165 08/20/96 45.3 11.450 384.73
BS19 10266119170 10/10/96 85.0 12.200 663.46
BS19 10266119317 09/15/96 80.0 13.990 203.82
BS19 10266119345 10/18/96 84.6 13.190 246.41
BS19 10266119358 09/02/96 69.7 10.500 599.03
BS19 10266119384 10/01/96 89.7 10.990 637.55
BS19 10266119406 09/08/96 83.9 11.400 471.68
BS19 10266119446 09/21/96 78.1 13.700 255.46
BS19 10266119512 09/25/96 70.0 11.700 322.40
BS19 10266119580 08/24/96 84.9 12.500 531.71
BS19 10266119606 09/09/96 79.9 13.350 430.84
BS19 10266119626 10/01/96 85.0 13.950 559.65
BS19 10266119676 10/02/96 75.0 10.900 507.57
BS19 10266119699 09/08/96 79.9 13.350 170.51
BS19 10266119717 09/10/96 46.8 9.800 196.57
BS19 10266119757 09/28/96 65.0 10.700 276.24
BS19 10266119823 08/25/96 84.6 11.750 1,469.70
BS19 10266119868 09/28/96 84.2 9.750 296.62
BS19 10266119887 08/26/96 85.0 9.990 491.82
BS19 10266119904 09/09/96 85.0 9.990 360.67
BS19 10266119931 09/15/96 90.0 10.750 1,453.43
BS19 10266119972 10/08/96 85.0 12.250 176.29
BS19 10266119990 09/21/96 86.3 12.600 610.85
BS19 10266120021 09/15/96 89.9 11.350 306.47
BS19 10266120025 09/02/96 68.7 11.350 376.86
BS19 10266120031 09/01/96 90.0 10.900 578.20
BS19 10266120072 09/02/96 72.4 10.600 553.33
BS19 10266120210 09/21/96 85.0 9.750 990.50
BS19 10266120315 09/03/96 70.0 9.200 372.67
BS19 10266120385 09/20/96 89.7 12.200 474.31
BS19 10266120419 09/03/96 62.1 14.840 319.39
BS19 10266120432 09/08/96 89.9 11.650 273.31
BS19 10266120458 09/24/96 75.8 9.900 559.71
BS19 10266120475 09/10/96 85.8 11.750 1,664.52
BS19 10266120485 09/01/96 27.1 10.850 253.62
BS19 10266120511 09/09/96 74.3 11.700 212.57
BS19 10266120683 09/03/96 67.6 13.490 874.49
BS19 10266120955 10/08/96 89.9 12.250 828.30
BS19 10266120971 09/08/96 75.7 10.000 210.62
BS19 10266120980 11/02/96 79.9 12.700 662.64
BS19 10266120989 09/28/96 60.4 12.690 597.56
BS19 10266120991 10/01/96 50.7 10.000 1,168.10
BS19 10266121130 09/05/96 89.7 12.600 290.84
BS19 10266121149 09/09/96 32.6 9.250 457.93
BS19 10266121153 10/08/96 89.9 12.350 376.86
BS19 10266121185 09/10/96 89.9 11.400 1,131.60
BS19 10266121279 09/24/96 75.0 9.900 274.11
BS19 10266121329 09/15/96 87.2 11.250 521.86
BS19 10266121339 08/24/96 80.0 13.490 1,373.55
BS19 10266121345 10/08/96 68.7 11.800 303.97
BS19 10266121354 08/28/96 73.4 11.450 690.53
BS19 10266121363 09/16/96 80.0 10.200 339.10
BS19 10266121405 09/01/96 87.8 12.000 192.03
BS19 10266121427 09/09/96 63.3 11.600 915.01
BS19 10266121452 09/16/96 83.8 9.500 1,357.49
BS19 10266121481 09/10/96 80.0 13.990 151.74
BS19 10266121485 09/03/96 65.0 10.600 269.75
BS19 10266121489 09/10/96 89.6 11.650 786.05
BS19 10266121494 09/12/96 38.3 9.750 644.37
BS19 10266121508 09/15/96 71.2 11.000 161.97
BS19 10266121514 08/27/96 89.9 10.950 299.23
BS19 10266121534 09/11/96 75.0 11.350 373.67
</TABLE>
<PAGE>
Alliance Funding Company Page 8 9/16/96
A division of Superior Bank FSB
Sale Schedule
1996-3 Class 1 - Initial Pool of Fixed Rate Mortgages - Settlement 9/23/96
<TABLE>
<CAPTION>
Zip
Sale ID Account Name Address City State Code
- -----------------------------------------------------------------------------------------------------------------------------
<C> <C> <S> <C> <C> <C> <C>
BS19 10266121546 DVORSCHAK THOMAS 8 BROADWAY CAPE MAY NJ 08204
BS19 10266121644 MIDDLE KENNETH L 4575 RAMBLEWOOD DRIVE COLORADO SPRINGS CO 80920
BS19 10266121691 SPIVEY WINNIE M 16896 TRACEY DETROIT MI 48235
BS19 10266121694 DRINKARD DAVID W 3450 W MURRY STREET INDIANAPOLIS IN 46221
BS19 10266121722 CHAPMAN BOBBY R JR 2109 CRISMAN ROAD PORTAGE IN 46368
BS19 10266121740 NICHOL RICHARD 122 FIFTH STREET SLATINGTON PA 18080
BS19 10266121874 HERTHER DANIEL R 609 LILAC LANE WEST BEND WI 53095
BS19 10266121875 GUSHEE PETER H 5048 N BERKELEY BLVD. WHITEFISH BAY WI 53217
BS19 10266121896 DOWNS DONNA 7 HIGH STREET NEW MILFORD CT 06776
BS19 10266122014 NEUGEBAUER WILLIAM C JR 158-17 97TH STREET HOWARD BEACH NY 11414
BS19 10266122037 ENGLISH DAVID S 4110 SOUTH NONCHALANT CIRCLE COLORADO SPRINGS CO 80917
BS19 10266122106 STROUSE HOWARD 2447 SOUTH DARIEN STREET PHILADELPHIA PA 19148
BS19 10266122193 GREGG JOHN I 3405 MT EVEREST NE ALBUQUERQUE NM 87111
BS19 10266122197 GALLEGOS BRUCE J 6 SENATE COURT PUEBLO CO 81005
BS19 10266122217 MARRELLI JOHANNA O 3639 WEST SILVERADO DRIVE SALT LAKE CITY UT 84118
BS19 10266122296 FATOLITIS PHILLIP P 316 BAY STREET TARPON SPRINGS FL 34689
BS19 10266122315 COUCH JEFFREY 271 BUCKLEY HILL ROAD COLCHESTER CT 06415
BS19 10266122338 ARMSTRONG PATRICIA M 2017 PINE STREET BALDWIN NY 11510
BS19 10266122429 FARRELL DELIA FRANCES 4020 RALEIGH STREET DENVER CO 80212
BS19 10266122433 TESTA DEBORAH J 10347 107TH AVENUE N SEMINOLE FL 34643
BS19 10266122490 GARDNER GARY 2885 PEAR TREE LANE CRAWFORDSVILLE IN 47933
BS19 10266122553 SMITH PATRICIA 42 GRASSPOND ROAD LEVITTOWN PA 19057
BS19 10266122658 EVANS WAYNE KEITH 3285 SOUTH BEAVER STREET SALT LAKE CITY UT 84119
BS19 10266122706 VOYTEK RONALD J 80 HITCHCOCK COURT CHESHIRE CT 06410
BS19 10266122713 FISHER HENRY W JR 1572 HOSSLER ROAD MANHEIM PA 17545
BS19 10266122769 SHAFFER LARRY 2 OAK RIDGE COURT POMONA NY 10970
BS19 10266122787 QUINN BRENDAN 77 WALNUT STREET MONROE CT 06468
BS19 10266122801 PHINNEY ROBERT H 2643 NORTH 1325 WEST CLINTON UT 84105
BS19 10266122819 AGUILAR BRYAN L 4455 EAST 121ST PLACE THORNTON CO 80241
BS19 10266122882 HERNANDEZ FELIX 3439 STEPHEN LANE WANTAGH NY 11793
BS19 10266122969 DECKARD LAUREL BOONE 2378 SANDERS ROAD WILLOW SPRINGS NC 27592
BS19 10266123006 CARRATURO JOHN 529 LOCUST AVENUE PORTCHESTER NY 10573
BS19 10266123042 DUNKINS JAMES 3 TIPTON DRIVE BRIDGETON NJ 08302
BS19 10266123054 DWYER PETER J 2 PRESIDENTIAL DRIVE EAST PLAINVIEW NY 11803
BS19 10266123055 SHEARS NORRIS 689 CHARTER COURT UNIONDALE NY 11553
BS19 10266123251 MCMULLEN WENDELL H 3483 WEST EL CABRIO DRIVE WEST VALLEY CITY UT 84119
BS19 10266123255 BLUE WILLIAM E 2741 WEST 38TH AVENUE DENVER CO 80211
BS19 10266123330 HOWARD EMMA R 8202 BRIDLEWOOD PLACE FORESTVILLE MD 20747
BS19 10266123336 ANDREASEN MAX CLAY 5251 SOUTH 5240 WEST SALT LAKE CITY UT 84118
BS19 10266123438 JACOBSON CRAIG P 5625 WEST 4360 SOUTH WEST VALLEY CITY UT 84120
BS19 10266123446 PETERSON ROBERT H 1181 NORTH 2725 WEST LAYTON UT 84041
BS19 10266123447 LARUE JAMES M 7751 SOUTH 2050 EAST SOUTH WEBER UT 84405
BS19 10266123465 STIMAK JOSEPH 900 MEADOW AVENUE CHARLEROI PA 15022
BS19 10266123580 NICEWONGER CLARENCE V RD3 BOX 146 SHELOCTA PA 15774
BS19 10266123673 LYMAN GREGORY K 71 LADY DIANA CIRCLE EVESHAM NJ 08053
BS19 10266123804 BARNES BRENT A 302 32ND STREET OGDEN UT 84401
BS19 10266123857 RHEE YONG SEON 18001 SW INGRID TERRACE BEAVERTON OR 97007
BS19 10266123861 FENTON KEITH CARLTON 1972 VAN BUREN AVENUE OGDEN UT 84401
BS19 10266123862 ROWLEY SHAWN I 4538 WEST VOLTA AVENUE WEST VALLEY CITY UT 84120
BS19 10266123877 SALKIN NEIL 5 ATLAS PLACE NESCONSENT NY 11767
BS19 10266123960 PRICE PATRICIA 115-31 158TH STREET JAMAICA NY 11434
BS19 10266123982 HERNDON OSBORNE P III 1426 FLOTILLA DRIVE HOLIDAY FL 34690
BS19 10266124028 HILLARY DELBERT V 1729 EAST EDGECLIFF DRIVE SANDY UT 84092
BS19 10266124167 EHRHARDT MELVIN LEE 1381 WEST 7200 SOUTH WEST JORDAN UT 84084
BS19 10266124176 OLSEN LAYNE R 3321 NORTH 1050 EAST LAYTON UT 84040
BS19 10266124179 THORNTON GEORGE W 748 EAST LOGAN AVENUE SALT LAKE CITY UT 84105
BS19 10266124182 STONE COREY S 1268 PORTER AVENUE OGDEN UT 84404
BS19 10266124374 BARLOW KERRY J 11259 SOUTH FARNSWORTH LANE SANDY UT 84070
BS19 10266124392 DONALDSON KARL W 464 NORTH 900 WEST SALT LAKE CITY UT 84116
-------------------------------------------
183 Sale Total
449 Total with Banco Santander
<CAPTION>
Principal Cut-off Date First
Balance at Principal Payment Maturity Rem
Sale ID Account Origination Balance Date Date Term
- ---------------------------------------------------------------------------------------------------------------------
<C> <C> <S> <C> <C> <C> <C>
BS19 10266121546 125,000.00 124,863.18 08/15/96 07/15/11 178.42
BS19 10266121644 16,000.00 16,000.00 08/15/96 07/15/11 178.42
BS19 10266121691 32,000.00 31,967.52 07/20/96 06/20/11 177.60
BS19 10266121694 49,000.00 48,962.97 07/24/96 06/24/11 177.73
BS19 10266121722 65,700.00 65,496.68 08/09/96 07/09/16 238.22
BS19 10266121740 66,080.00 65,988.63 07/27/96 06/27/11 177.83
BS19 10266121874 108,000.00 107,915.94 08/10/96 07/10/26 358.26
BS19 10266121875 27,700.00 27,651.08 08/02/96 07/02/11 177.99
BS19 10266121896 25,000.00 24,981.61 08/03/96 07/03/11 178.03
BS19 10266122014 156,000.00 156,000.00 08/02/96 07/02/11 177.99
BS19 10266122037 29,000.00 28,730.48 08/15/96 07/15/11 178.42
BS19 10266122106 25,000.00 24,882.62 07/21/96 06/21/11 177.63
BS19 10266122193 38,800.00 38,793.88 07/25/96 06/25/16 237.76
BS19 10266122197 12,820.00 12,817.11 08/09/96 07/09/11 178.22
BS19 10266122217 94,000.00 94,000.00 08/16/96 07/16/11 178.45
BS19 10266122296 38,700.00 38,700.00 08/03/96 07/03/16 238.03
BS19 10266122315 24,000.00 23,859.78 08/08/96 07/08/11 178.19
BS19 10266122338 59,100.00 59,100.00 08/08/96 07/08/16 238.19
BS19 10266122429 14,970.00 14,970.00 08/09/96 07/09/11 178.22
BS19 10266122433 13,000.00 12,929.38 08/09/96 07/09/11 178.22
BS19 10266122490 68,000.00 67,968.44 08/01/96 07/01/26 358.00
BS19 10266122553 12,000.00 11,988.14 08/12/96 07/12/11 178.32
BS19 10266122658 29,318.00 29,262.00 08/03/96 07/03/11 178.03
BS19 10266122706 37,900.00 37,900.00 08/02/96 07/02/11 177.99
BS19 10266122713 19,600.00 19,542.44 08/03/96 07/03/16 238.03
BS19 10266122769 66,500.00 66,500.00 07/28/96 06/28/11 177.86
BS19 10266122787 16,500.00 16,489.64 08/03/96 07/03/11 178.03
BS19 10266122801 35,644.00 35,436.74 07/21/96 06/21/11 177.63
BS19 10266122819 23,312.00 23,312.00 08/15/96 07/15/11 178.42
BS19 10266122882 85,000.00 84,740.12 08/16/96 07/16/11 178.45
BS19 10266122969 19,200.00 19,169.67 08/09/96 07/09/11 178.22
BS19 10266123006 25,000.00 24,944.13 08/16/96 07/16/16 238.45
BS19 10266123042 102,850.00 102,791.71 08/08/96 07/08/11 178.19
BS19 10266123054 50,000.00 49,789.95 07/04/96 06/04/11 177.07
BS19 10266123055 26,000.00 26,000.00 07/05/96 06/05/11 177.11
BS19 10266123251 10,857.00 10,857.00 08/03/96 07/03/11 178.03
BS19 10266123255 49,500.00 49,500.00 08/09/96 07/09/11 178.22
BS19 10266123330 43,000.00 42,897.36 08/09/96 07/09/11 178.22
BS19 10266123336 12,000.00 11,966.04 08/15/96 07/15/11 178.42
BS19 10266123438 33,309.00 33,237.40 07/26/96 06/26/16 237.80
BS19 10266123446 17,000.00 16,956.76 07/26/96 06/26/11 177.80
BS19 10266123447 44,693.00 44,693.00 08/09/96 07/09/11 178.22
BS19 10266123465 36,200.00 36,200.00 08/12/96 07/12/16 238.32
BS19 10266123580 54,400.00 54,340.75 08/12/96 07/12/26 358.32
BS19 10266123673 165,000.00 165,000.00 08/11/96 07/11/11 178.29
BS19 10266123804 16,700.00 16,495.63 03/06/96 02/06/11 173.16
BS19 10266123857 137,842.00 137,842.00 08/09/96 07/09/11 178.22
BS19 10266123861 29,987.00 29,760.35 08/15/96 07/15/11 178.42
BS19 10266123862 47,000.00 47,000.00 07/28/96 06/28/11 177.86
BS19 10266123877 19,600.00 19,600.00 08/16/96 07/16/16 238.45
BS19 10266123960 57,750.00 57,750.00 07/14/96 06/14/11 177.40
BS19 10266123982 37,000.00 36,978.72 08/15/96 07/15/11 178.42
BS19 10266124028 83,189.00 83,189.00 08/01/96 07/01/16 238.00
BS19 10266124167 11,000.00 10,944.37 08/02/96 07/02/11 177.99
BS19 10266124176 10,786.00 10,786.00 08/02/96 07/02/11 177.99
BS19 10266124179 74,200.00 74,200.00 08/02/96 07/02/16 237.99
BS19 10266124182 12,400.00 12,400.00 08/02/96 07/02/11 177.99
BS19 10266124374 11,000.00 10,990.42 08/15/96 07/15/11 178.42
BS19 10266124392 36,301.00 36,143.30 08/03/96 07/03/11 178.03
--------------------------------------------------------- -------------
183 9,760,536.00 9,743,095.34 213.25
449 25,103,513.00 25,057,646.04 216.53
<CAPTION>
Original Current Scheduled
Date LTV Mortgage Payment
Sale ID Account Due Ratio Rate Int & Prin
- ---------------------------------------------------------------------------------------------
BS19 10266121546 09/15/96 32.0 10.500 1,143.42
BS19 10266121644 09/15/96 75.6 13.990 212.97
BS19 10266121691 09/20/96 74.4 9.500 269.07
BS19 10266121694 08/24/96 70.0 11.990 503.64
BS19 10266121722 09/09/96 90.0 11.150 684.87
BS19 10266121740 09/27/96 80.0 10.700 614.36
BS19 10266121874 09/10/96 90.0 11.150 1,040.77
BS19 10266121875 09/02/96 84.9 12.250 336.91
BS19 10266121896 09/03/96 88.5 12.350 305.69
BS19 10266122014 09/02/96 80.0 9.990 1,367.86
BS19 10266122037 10/15/96 85.0 12.700 361.21
BS19 10266122106 09/21/96 78.1 11.500 247.57
BS19 10266122193 09/30/96 89.9 11.650 417.79
BS19 10266122197 09/09/96 79.9 14.250 172.89
BS19 10266122217 08/16/96 80.0 10.990 894.47
BS19 10266122296 09/03/96 70.3 9.650 364.53
BS19 10266122315 09/08/96 89.9 12.750 299.72
BS19 10266122338 09/08/96 84.9 12.750 681.90
BS19 10266122429 09/09/96 84.9 12.250 182.08
BS19 10266122433 09/09/96 89.0 12.000 156.02
BS19 10266122490 10/01/96 85.0 12.490 725.21
BS19 10266122553 09/12/96 84.8 12.700 149.47
BS19 10266122658 09/03/96 84.8 13.450 379.67
BS19 10266122706 09/02/96 89.9 12.000 389.84
BS19 10266122713 09/03/96 90.0 11.250 205.65
BS19 10266122769 08/28/96 89.7 11.500 776.85
BS19 10266122787 09/03/96 79.3 10.750 184.96
BS19 10266122801 09/21/96 87.1 12.600 441.64
BS19 10266122819 09/15/96 89.9 12.000 279.78
BS19 10266122882 09/16/96 84.7 12.750 1,061.51
BS19 10266122969 09/09/96 79.9 13.250 246.09
BS19 10266123006 09/16/96 77.6 10.250 245.41
BS19 10266123042 09/08/96 85.0 9.900 894.99
BS19 10266123054 09/04/96 78.8 10.750 560.47
BS19 10266123055 09/05/96 80.0 13.750 302.93
BS19 10266123251 09/03/96 85.0 13.200 138.80
BS19 10266123255 09/09/96 85.0 12.990 547.18
BS19 10266123330 09/09/96 88.5 12.600 532.79
BS19 10266123336 09/15/96 79.4 14.250 161.83
BS19 10266123438 09/26/96 89.9 11.400 352.92
BS19 10266123446 09/26/96 86.4 12.200 206.22
BS19 10266123447 09/09/96 89.9 12.200 542.16
BS19 10266123465 09/12/96 85.1 10.250 355.35
BS19 10266123580 09/12/96 80.0 12.600 584.81
BS19 10266123673 09/11/96 84.6 11.990 1,695.94
BS19 10266123804 09/06/96 79.9 15.100 234.88
BS19 10266123857 09/09/96 85.0 12.700 1,492.55
BS19 10266123861 09/15/96 88.7 12.600 371.55
BS19 10266123862 08/28/96 89.8 12.850 590.03
BS19 10266123877 08/16/96 79.9 14.550 251.60
BS19 10266123960 09/14/96 55.0 14.990 729.75
BS19 10266123982 09/15/96 75.0 11.750 438.13
BS19 10266124028 09/01/96 89.6 12.600 951.01
BS19 10266124167 10/02/96 54.6 11.350 127.45
BS19 10266124176 09/02/96 76.2 13.450 139.68
BS19 10266124179 09/02/96 84.9 13.200 879.90
BS19 10266124182 09/02/96 89.8 12.600 153.64
BS19 10266124374 09/15/96 77.2 14.950 153.58
BS19 10266124392 10/03/96 89.8 12.900 456.91
------------------ -------------------------------------------
183 76.9 11.573 102,993.82
449 75.6 11.471 261,667.04
</TABLE>
<PAGE>
Alliance Funding Company Page 9 9/16/96
A division of Superior Bank FSB
Sale Schedule
1996-3 Class 1 - Initial Pool of Fixed Rate Mortgages - Settlement 9/23/96
<TABLE>
<CAPTION>
Zip
Sale ID Account Name Address City State Code
- -----------------------------------------------------------------------------------------------------------------------------
<C> <C> <S> <C> <C> <C> <C>
ML665 10266103069 RAS ROBERT 2 SOUTH 750 AVENUE ORLEANS OAK BROOK IL 60521
ML665 10266105319 THOMAS-ROSE STANLEY 16118 GREENHORN ROAD GRASS VALLEY CA 95945
ML665 10266106981 FREDES GENARO 219 48TH STREET UNION CITY NJ 07087
ML665 10266109620 VAN WYCKHOUSE KATHLEEN 382 VAN WINKLE AVENUE HAWTHORNE NJ 07506
ML665 10266110006 HORTON STEPHEN M 1210 CREEKSIDE DRIVE ALTOONA PA 16601
ML665 10266110212 IHM KERRI 29 STONEHURST LANE DIX HILLS NY 11746
ML665 10266111726 RESTREPO RICARDO 25 NORTH FERNWOOD ROAD MONTAUK NY 11954
ML665 10266111733 MARSH ROBERT R 1014 WEST HACKAMORE STREET TEMPE AZ 85281
ML665 10266111767 WELISCHAR ALBERT V 440 MIDDLE ISLAND ROAD YAPHANK NY 11980
ML665 10266112241 EAGEN EUGENE E JR 4 SCHOOLHOUSE LANE WALLKILL NY 12589
ML665 10266113157 GELT JAMES S 3621 S ALBERTA PLACE TUCSON AZ 85730
ML665 10266113196 BARKLOW LORRI C 12 MAPLE AVENUE BINGHAMTON NY 13901
ML665 10266113480 SCARDINO SALLY J 8794 E MUSTANG TRAIL SCOTTSDALE AZ 85258
ML665 10266113494 HALL BRENDA J 5936 SOUTH LAFLIN CHICAGO IL 60636
ML665 10266113748 SABETPOUR KAZEM 355 NORTHFIELD AVE WEST ORANGE NJ 07052
ML665 10266114185 GELBARD BRUCE L 18 AVON DRIVE FREEHOLD NJ 07728
ML665 10266114286 SHELSBY MARY 1816 BEAN HILL ROAD HONEOYE FALLS NY 14472
ML665 10266114386 RASCON CESAR E 3733 E ELLINGTON PLACE TUCSON AZ 85713
ML665 10266114460 DEPRIEST STERLING M 1442 W SACK DR PHOENIX AZ 85027
ML665 10266114601 REPP DARYL W 5413 SOUTH CHINA CLAY DRIVE SALT LAKE CITY UT 84118
ML665 10266114902 GOTTILLA DANIEL 36 GLENMORE AVENUE HEMPSTEAD NY 11550
ML665 10266114905 PINTER MARY JANE 99 SOUTH PARK AVENUE APT 106 ROCKVILLE CENTRE NY 11570
ML665 10266114980 BENDER PAUL J 2099 SOUTH COORS CIRCLE LAKEWOOD CO 80228
ML665 10266115055 NIEMAN MICHAEL V 7750 HIGHLAND DRIVE SALT LAKE CITY UT 84121
ML665 10266115342 CHARLESWORTH BRUCE G 1935 WEST 75 SOUTH WEST POINT UT 84015
ML665 10266115402 WOOD ROBERT H 701 E 9TH STREET CASA GRANDE AZ 85222
ML665 10266115580 HILTON DAVID GARY 16220 S WILSON RD OREGON CITY OR 97045
ML665 10266115680 RODRIGUEZ DANIEL O 159 WEST 1565 NORTH OREM UT 84057
ML665 10266115682 CLINE ENRIQUETA 324 EAST CORNELL DRIVE MIDVALE UT 84047
ML665 10266115797 SUAREZ RALPH WILLIAM JR 802 HIGHLAND AVENUE NEW EAGLE PA 15067
ML665 10266115846 SANSONE RICHARD C 45 WATERSIDE CLOSE EAST CHESTER NY 10709
ML665 10266115926 SUAREZ RALPH W SR 115 6TH AVE NEW EAGLE PA 15067
ML665 10266115927 SHEPPARD-CAMPBELL AUDREY 3129 MONDAWMIN AVENUE BALTIMORE MD 21216
ML665 10266116098 SWANSON DAWN 6013 BERKSHIRE DRIVE BETHESDA MD 20814
ML665 10266116111 DAVIS RONNIE RAY 1617 ROSEMONT DRIVE COLORADO SPRINGS CO 80911
ML665 10266116138 HOPKINS BRET W 9909 246TH STREET COURT EAST GRAHAM WA 98338
ML665 10266116144 RUDELICH JAN R 3221 SOUTH 200 WEST BOUNTIFUL UT 84010
ML665 10266116339 BARBERIO NICHOLAS K 31 ARCHIBALD WAY SAG HARBOR NY 11963
ML665 10266117018 BOJARSKI JOHN J 160 LINCOLN WAY DRIVE YORK PA 17404
ML665 10266117062 LOVATO JOSEPH C RT 6 BOX 46, LOWER AGUA FRIA SANTA FE NM 87501
ML665 10266117073 RAINS THOMAS R 3441 SOUTH 7895 WEST MAGNA UT 84044
ML665 10266117130 LICCIARDELLO FRANK 21 ANTONA BOULEVARD CENTEREACH NY 11720
ML665 10266117151 MESSING DAVID W 4571 SODA PARKWAY HAMBURG NY 14075
ML665 10266117211 GOODRICH THOMAS S 2743 WAVERLEY STREET PALO ALTO CA 94306
ML665 10266117953 NELSON CHARLES R 88 EAST 656 NORTH VALPARAISO IN 46383
ML665 10266118051 BUCK ERNEST J JR 5323 N CALLE BUJIA TUCSON AZ 85718
ML665 10266118429 MAIER MICHAEL JOSEPH 2305 QUEEN ESTHER DRIVE #101 PARK CITY UT 84060
ML665 10266118510 REICHE MICHAEL T 7811 NORTH 15TH AVENUE PHOENIX AZ 85021
ML665 10266118573 RADITSAS DEMETRE 25-27 SEDGEWICK STREET BRIDGEPORT CT 06606
ML665 10266118577 LUIZZA CHARLES 711 TRUMPET TREE PUNTA GORDA FL 33955
ML665 10266118581 CHAUDHRY ISLAH U 82 VILLAGE STREET VERNON CT 06066
ML665 10266118613 VALDEZ THOMAS F 7704 SANDLEWOOD DR NW ALBUQUERQUE NM 87120
ML665 10266118708 MONTANO WENDY M 2879 SOUTH 2540 EAST SALT LAKE CITY UT 84109
ML665 10266118709 HATCH WILLIAM D 4370 SOUTH 4000 WEST WEST VALLEY CITY UT 84120
ML665 10266118795 COLON DEBRA 22 WOODLAWN AVENUE CENTRAL ISLIP NY 11722
ML665 10266118854 BREHL CHRIS 5533 W CORTEZ STREET GLENDALE AZ 85304
ML665 10266118934 BIGGS RAYMOND 1509 ATLANTIC AVENUE BROOKLYN NY 11213
ML665 10266118949 ELLIS WILLIAM A 6180 SE LUSTED ROAD GRESHAM OR 97080
ML665 10266118950 MARTIN DONALD R JR 14826 N 90TH LANE PEORIA AZ 85381
ML665 10266119016 POLHAUPESSY ARNOLD F 12785 MURPHY AVENUE SAN MARTIN CA 95046
ML665 10266119023 KWON TAE HYUN 4228 SOUTHWEST 314TH PLACE FEDERAL WAY WA 98023
ML665 10266119094 BUTLER JAMES R 3301 & 3303 NORTH TENNYSON ST DENVER CO 80212
<CAPTION>
Principal Cut-off Date First
Balance at Principal Payment Maturity Rem
Sale ID Account Origination Balance Date Date Term
- ---------------------------------------------------------------------------------------------------------------------
<C> <C> <S> <C> <C> <C> <C>
ML665 10266103069 144,000.00 144,000.00 08/09/96 07/09/11 178.22
ML665 10266105319 30,000.00 29,928.97 04/25/96 03/25/11 174.74
ML665 10266106981 66,000.00 66,000.00 07/27/96 06/27/26 357.83
ML665 10266109620 138,750.00 138,691.56 07/21/96 06/21/26 357.63
ML665 10266110006 52,000.00 52,000.00 08/17/96 07/17/11 178.49
ML665 10266110212 200,000.00 199,490.44 07/20/96 06/20/11 177.60
ML665 10266111726 204,000.00 203,983.75 08/08/96 07/08/26 358.19
ML665 10266111733 26,900.00 26,900.00 07/28/96 06/28/11 177.86
ML665 10266111767 115,500.00 115,500.00 07/11/96 06/11/11 177.30
ML665 10266112241 128,000.00 128,000.00 08/08/96 07/08/26 358.19
ML665 10266113157 10,485.00 10,485.00 08/08/96 07/08/11 178.19
ML665 10266113196 59,000.00 58,953.75 07/20/96 06/20/26 357.60
ML665 10266113480 132,000.00 132,000.00 07/13/96 06/13/26 357.37
ML665 10266113494 34,800.00 34,762.80 08/19/96 07/19/16 238.55
ML665 10266113748 121,125.00 121,105.32 07/24/96 06/24/11 177.73
ML665 10266114185 69,500.00 69,310.00 07/03/96 06/03/11 177.04
ML665 10266114286 56,250.00 56,250.00 07/25/96 06/25/26 357.76
ML665 10266114386 10,446.00 10,446.00 07/17/96 06/17/11 177.50
ML665 10266114460 26,770.00 26,720.14 07/26/96 06/26/11 177.80
ML665 10266114601 33,390.00 33,370.16 07/19/96 06/19/11 177.57
ML665 10266114902 106,400.00 106,396.42 08/12/96 07/12/26 358.32
ML665 10266114905 140,000.00 140,000.00 08/16/96 07/16/11 178.45
ML665 10266114980 51,738.00 51,720.89 08/19/96 07/19/16 238.55
ML665 10266115055 75,050.00 75,047.36 07/10/96 06/10/11 177.27
ML665 10266115342 33,329.00 33,142.66 07/12/96 06/12/11 177.34
ML665 10266115402 23,100.00 23,037.11 07/25/96 06/25/11 177.76
ML665 10266115580 38,000.00 38,000.00 08/09/96 07/09/11 178.22
ML665 10266115680 22,800.00 22,800.00 06/28/96 05/28/11 176.84
ML665 10266115682 11,500.00 11,465.01 08/01/96 07/01/11 178.00
ML665 10266115797 47,500.00 47,500.00 08/19/96 07/19/11 178.55
ML665 10266115846 32,200.00 32,200.00 08/03/96 07/03/11 178.03
ML665 10266115926 69,700.00 69,700.00 08/19/96 07/19/11 178.55
ML665 10266115927 48,000.00 48,000.00 07/17/96 06/17/26 357.50
ML665 10266116098 238,000.00 238,000.00 08/16/96 07/16/11 178.45
ML665 10266116111 12,500.00 12,479.06 08/19/96 07/19/11 178.55
ML665 10266116138 14,151.00 14,131.82 08/16/96 07/16/11 178.45
ML665 10266116144 29,500.00 28,691.17 07/18/96 06/18/11 177.53
ML665 10266116339 204,400.00 204,400.00 08/01/96 07/01/11 178.00
ML665 10266117018 26,800.00 26,789.95 08/19/96 07/19/11 178.55
ML665 10266117062 100,000.00 99,958.22 07/28/96 06/28/26 357.86
ML665 10266117073 30,380.00 30,304.93 07/14/96 06/14/11 177.40
ML665 10266117130 202,500.00 202,500.00 08/17/96 07/17/26 358.49
ML665 10266117151 19,500.00 19,493.73 08/17/96 07/17/16 238.49
ML665 10266117211 127,000.00 127,000.00 07/11/96 06/11/11 177.30
ML665 10266117953 19,600.00 19,046.55 07/19/96 06/19/11 177.57
ML665 10266118051 45,000.00 45,000.00 07/18/96 06/18/11 177.53
ML665 10266118429 225,000.00 225,000.00 08/15/96 07/15/11 178.42
ML665 10266118510 65,000.00 63,597.49 07/18/96 06/18/11 177.53
ML665 10266118573 126,000.00 126,000.00 08/19/96 07/19/11 178.55
ML665 10266118577 42,500.00 42,500.00 08/15/96 07/15/11 178.42
ML665 10266118581 26,600.00 26,447.80 07/21/96 06/21/11 177.63
ML665 10266118613 11,807.00 11,802.95 08/09/96 07/09/11 178.22
ML665 10266118708 16,240.00 16,240.00 08/09/96 07/09/11 178.22
ML665 10266118709 33,900.00 33,651.76 08/16/96 07/16/11 178.45
ML665 10266118795 101,700.00 101,646.85 07/25/96 06/25/26 357.76
ML665 10266118854 16,000.00 15,997.82 07/24/96 06/24/11 177.73
ML665 10266118934 112,000.00 112,000.00 07/07/96 06/07/26 357.17
ML665 10266118949 31,609.00 31,413.45 07/18/96 06/18/11 177.53
ML665 10266118950 18,500.00 18,500.00 07/24/96 06/24/11 177.73
ML665 10266119016 25,400.00 25,326.70 07/19/96 06/19/11 177.57
ML665 10266119023 26,700.00 26,700.00 07/24/96 06/24/11 177.73
ML665 10266119094 53,051.00 53,051.00 08/22/96 07/22/11 178.65
<CAPTION>
Original Current Scheduled
Date LTV Mortgage Payment
Sale ID Account Due Ratio Rate Int & Prin
- ---------------------------------------------------------------------------------------------
ML665 10266103069 09/09/96 69.5 10.000 1,263.70
ML665 10266105319 08/25/96 80.8 11.700 301.67
ML665 10266106981 09/27/96 80.0 11.950 676.35
ML665 10266109620 09/21/96 75.0 10.700 1,289.99
ML665 10266110006 08/17/96 80.0 12.600 559.01
ML665 10266110212 09/20/96 54.2 10.500 2,210.80
ML665 10266111726 09/08/96 85.0 12.200 2,129.83
ML665 10266111733 08/28/96 79.9 13.350 346.57
ML665 10266111767 09/11/96 70.0 11.450 1,139.38
ML665 10266112241 09/08/96 80.0 13.490 1,465.12
ML665 10266113157 09/08/96 84.9 12.990 115.90
ML665 10266113196 09/20/96 75.6 11.000 561.87
ML665 10266113480 09/13/96 84.9 11.750 1,332.42
ML665 10266113494 09/19/96 84.8 10.490 347.20
ML665 10266113748 09/24/96 85.0 9.500 1,018.48
ML665 10266114185 09/03/96 84.9 12.500 856.60
ML665 10266114286 09/25/96 75.0 11.350 550.61
ML665 10266114386 09/17/96 90.0 11.250 101.46
ML665 10266114460 08/26/96 87.6 11.650 315.28
ML665 10266114601 08/19/96 90.0 12.600 358.95
ML665 10266114902 09/12/96 80.0 12.850 1,164.53
ML665 10266114905 09/16/96 56.0 10.450 1,275.40
ML665 10266114980 09/19/96 79.9 12.950 604.31
ML665 10266115055 09/10/96 79.9 11.140 722.67
ML665 10266115342 09/12/96 89.9 10.950 377.77
ML665 10266115402 09/25/96 84.9 12.700 287.73
ML665 10266115580 09/09/96 55.8 11.450 442.71
ML665 10266115680 08/28/96 90.0 12.600 245.11
ML665 10266115682 10/01/96 59.5 14.850 159.77
ML665 10266115797 09/19/96 67.8 10.700 441.62
ML665 10266115846 09/03/96 64.3 11.950 385.42
ML665 10266115926 09/19/96 77.4 10.700 648.02
ML665 10266115927 08/17/96 80.0 11.490 474.97
ML665 10266116098 09/16/96 85.0 11.900 2,429.79
ML665 10266116111 09/19/96 73.6 12.750 156.10
ML665 10266116138 09/16/96 79.9 13.450 161.53
ML665 10266116144 09/18/96 73.9 11.100 283.17
ML665 10266116339 09/01/96 80.1 10.250 1,831.63
ML665 10266117018 09/19/96 69.9 12.490 330.14
ML665 10266117062 09/28/96 80.0 12.850 1,094.49
ML665 10266117073 09/14/96 89.9 12.600 326.59
ML665 10266117130 08/17/96 90.0 11.000 1,928.46
ML665 10266117151 09/17/96 90.0 11.250 204.60
ML665 10266117211 08/11/96 78.4 12.050 1,311.23
ML665 10266117953 11/19/96 79.9 13.350 252.52
ML665 10266118051 08/18/96 53.5 10.900 425.15
ML665 10266118429 09/15/96 46.8 10.700 2,091.88
ML665 10266118510 10/18/96 68.4 10.000 698.49
ML665 10266118573 09/19/96 90.0 10.750 1,176.19
ML665 10266118577 09/15/96 56.5 11.490 496.21
ML665 10266118581 09/21/96 66.5 11.550 311.58
ML665 10266118613 09/09/96 74.4 12.490 145.45
ML665 10266118708 09/09/96 84.9 13.700 188.57
ML665 10266118709 10/16/96 89.9 12.350 357.86
ML665 10266118795 09/25/96 90.0 10.750 949.35
ML665 10266118854 08/24/96 85.6 11.650 160.28
ML665 10266118934 09/07/96 70.0 11.700 1,126.25
ML665 10266118949 09/18/96 85.0 12.700 393.71
ML665 10266118950 09/24/96 84.9 12.250 193.86
ML665 10266119016 09/19/96 85.0 10.000 272.95
ML665 10266119023 09/24/96 85.0 13.200 299.53
ML665 10266119094 09/22/96 79.7 13.350 601.40
</TABLE>
<PAGE>
Alliance Funding Company Page 10 9/16/96
A division of Superior Bank FSB
Sale Schedule
1996-3 Class 1 - Initial Pool of Fixed Rate Mortgages - Settlement 9/23/96
<TABLE>
<CAPTION>
Zip
Sale ID Account Name Address City State Code
- -----------------------------------------------------------------------------------------------------------------------------
<C> <C> <S> <C> <C> <C> <C>
ML665 10266119169 CLARK ROGER 3212 MUIR COURT ANTIOCH CA 94509
ML665 10266119234 MORAN ALFREDO J 3553 WEST ALAN AVENUE SALT LAKE CITY UT 84119
ML665 10266119335 MESCH ROBERT 10521 GUADALAJARA NE ALBUQUERQUE NM 87111
ML665 10266119339 GREER WILLIAM S 6441 WEST 108TH AVENUE BROOMFIELD CO 80020
ML665 10266119420 JONES MELCAR 419 LEONARD LANE CAMBRIDGE MD 21613
ML665 10266119457 MILLARD ANN 2660 & 2666 SOUTH WHITNEY BLV ROCKLIN CA 95677
ML665 10266119507 KLIMA F RICHARD 4703 PURITAN CIRCLE TAMPA FL 33617
ML665 10266119511 HITCHCOCK LEON L 2746 SOUTH QUINTERO STREET AURORA CO 80013
ML665 10266119598 KINCAID GARY RAY 17107 EAST EVANS DRIVE AURORA CO 80013
ML665 10266119627 QUINONEZ ANGEL LUIS 617 NORTH HIGHLAND AVENUE CLEARWATER FL 34615
ML665 10266119722 HAMLET WILLIAM M 212 VOSE AVENUE SOUTH ORANGE NJ 07079
ML665 10266119791 KASCH MARTEIN VAN HET HOF 2236 COUNTRY CLUB WOODRIDGE IL 60517
ML665 10266119812 PORELLO EVA M 34780 PETTIBONE ROAD SOLON OH 44139
ML665 10266119841 HENRY CLEO 6620 S. INGLESIDE AVENUE CHICAGO IL 60637
ML665 10266119845 WASHINGTON MARVIN LEE 142 SOUTH 10TH AVENUE MAYWOOD IL 60153
ML665 10266119960 LOVETT JOHN C 3880 SOUTH SPRUCE STREET DENVER CO 80237
ML665 10266120016 SIKORA JANICE 38 STONE STREET ARONA PA 15617
ML665 10266120033 MEGUI JOSHUA E 1351 S 13TH STREET YUMA AZ 85364
ML665 10266120063 WOODWARD TERRY 2649 MARATHON LANE FORT LAUDERDALE FL 33334
ML665 10266120068 ATLANTIC BRYAN A 141 LINDEN AVENUE IRVINGTON NJ 07111
ML665 10266120092 WARD SYLVIA J S-4691 CLIFTON PARKWAY HAMBURG NY 14075
ML665 10266120142 ASHMAN DOUGLAS C 1040 SPRING POND COURT HENDERSON NV 89015
ML665 10266120166 LATHAM ROBIN J 5360 EAST 112TH PLACE THORNTON CO 80233
ML665 10266120219 FRICE GENE M II 2275 AZALEA DRIVE GRANTS PASS OR 97526
ML665 10266120290 NIEDZWIEDZ FLORENCE F 4923 WEST 28TH PLACE CICERO IL 60650
ML665 10266120358 THOMPSON E DANIEL 14041 SOUTHEAST ALLEN ROAD BELLEVUE WA 98006
ML665 10266120455 HAVERKORN WAYNE U 401 SOUTH 38TH STREET TACOMA WA 98408
ML665 10266120732 ALLEN EVELEAN 8541 SOUTH LAFLIN CHICAGO IL 60620
ML665 10266120743 MIKEWORTH JACKIE L 1320 HICKORY AVE ROUND LAKE BEACH IL 60073
ML665 10266120761 KAFURA DANIEL E 2108 S 76TH STREET WEST ALLIS WI 53219
ML665 10266120899 FINAMORE LUISA 23 MORRIS TURNPIKE RANDOLPH NJ 07869
ML665 10266120938 RICHEY JILL R 4375 WEST 5100 SOUTH SALT LAKE CITY UT 84118
ML665 10266120940 RYAN PAT L 720 FIR GARDENS ST NW SALEM OR 97304
ML665 10266121083 BELL LULA ELISE 8 BIEL DRIVE AMITYVILLE NY 11701
ML665 10266121100 CRUZ MIGUEL 151-69 135TH AVENUE JAMAICA NY 11434
ML665 10266121161 VETTER SANDRA KAY 53804 EAST BOBCAT CIRCLE STRASBURG CO 80136
ML665 10266121165 CONNOR RONALD K 2304 100TH AVENUE NORTHEAST BELLEVUE WA 98004
ML665 10266121216 GARSIDE CAROL G 2552 SOUTH ALDEN STREET SALT LAKE CITY UT 84106
ML665 10266121230 LAUER TIMOTHY K 1901 WEST 235TH STREET STEGER IL 60475
ML665 10266121262 DANIELS JIMMIE L 3674 SILSBY ROAD UNIVERSITY HEIGHTS OH 44118
ML665 10266121263 ANNORENO JOSEPH A 1546 NORTH BROADWAY MELROSE PARK IL 60160
ML665 10266121289 NEWMAN JUDITH R 1557 RITCHIE LANE ANNAPOLIS MD 21401
ML665 10266121308 CASA THOMAS 9 FIDDLEHEAD ESTATES OXFORD CT 06478
ML665 10266121376 DANIELS PAMELA S 100 SAN JUAN DRIVE SALINAS CA 93901
ML665 10266121499 LOGAN BENNIE PETE 9129 OLD HARFORD ROAD BALTIMORE MD 21234
ML665 10266121533 MARES JOSEPH H 11586 MARSHALL STREET WESTMINSTER CO 80020
ML665 10266121535 HANNAFORD DONALD M 1151 W. VIEW COURT MEDFORD OR 97504
ML665 10266121606 GREEN GARY LEE 2586 SUE AVENUE SAN JOSE CA 95111
ML665 10266121648 WILLIAMS TERESA ANN 4432 EAST PEAKVIEW AVENUE LITTLETON CO 80121
ML665 10266121662 KRAFFT TADEUSZ 1318 N HIGHLAND ARLINGTON HEIGHTS IL 60004
ML665 10266121687 WEST ROSE M 11676 GRANDMONT DETROIT MI 48227
ML665 10266121701 BARR TIMOTHY M 1807 TIMBER HEIGHTS DRIVE INDIANAPOLIS IN 46240
ML665 10266121804 MOORING ELMER R SR 1510 KINGSWAY ROAD BALTIMORE MD 21218
ML665 10266121838 JONES RANDOLPH MITCHELL HIGHWAY 1214 HENRICO NC 27842
ML665 10266121845 AXELROD DAVID S 335 SOUTH MAGNOLIA STREET DENVER CO 80224
ML665 10266121867 BELL JOHN W 65 RAILROAD STREET MILFORD CENTER OH 43045
ML665 10266121903 HARRISON ROBERT G 108 SHORE DRIVE TARPON SPRINGS FL 34689
ML665 10266121989 BLACKWELL JOHN L 220 WILLIAM STREET RAHWAY NJ 07065
ML665 10266122042 MARTINEZ STEVE JEROME 5090 WEST JARRAD ROAD SALT LAKE CITY UT 84118
ML665 10266122046 SMALL RANDALL TIMOTHY 924 GEORGE CT NW SALEM OR 97304
ML665 10266122061 P LAWRENCE LIAM 933 PICKERING DRIVE YARDLEY PA 19067
ML665 10266122091 CAMPITELLI CAROLYN 1689 FARMINGTON AVENUE POTTSTOWN PA 19464
<CAPTION>
Principal Cut-off Date First
Balance at Principal Payment Maturity Rem
Sale ID Account Origination Balance Date Date Term
- ---------------------------------------------------------------------------------------------------------------------
<C> <C> <S> <C> <C> <C> <C>
ML665 10266119169 26,558.00 26,413.03 07/17/96 06/17/11 177.50
ML665 10266119234 76,000.00 75,742.00 08/19/96 07/19/11 178.55
ML665 10266119335 93,000.00 92,919.86 08/01/96 07/01/11 178.00
ML665 10266119339 27,562.00 27,533.17 08/22/96 07/22/16 238.65
ML665 10266119420 16,800.00 16,529.85 07/14/96 06/14/11 177.40
ML665 10266119457 80,000.00 80,000.00 08/08/96 07/08/11 178.19
ML665 10266119507 28,000.00 28,000.00 08/15/96 07/15/11 178.42
ML665 10266119511 17,000.00 16,992.73 08/09/96 07/09/11 178.22
ML665 10266119598 11,200.00 11,200.00 08/08/96 07/08/11 178.19
ML665 10266119627 119,920.00 119,628.53 07/24/96 06/24/11 177.73
ML665 10266119722 50,000.00 49,961.43 08/16/96 07/16/11 178.45
ML665 10266119791 25,000.00 24,953.53 08/15/96 07/15/16 238.42
ML665 10266119812 42,000.00 42,000.00 08/12/96 07/12/11 178.32
ML665 10266119841 38,000.00 37,894.25 07/28/96 06/28/26 357.86
ML665 10266119845 60,000.00 60,000.00 08/19/96 07/19/16 238.55
ML665 10266119960 47,617.00 47,599.09 08/17/96 07/17/11 178.49
ML665 10266120016 60,000.00 60,000.00 08/15/96 07/15/11 178.42
ML665 10266120033 11,613.00 11,609.72 08/11/96 07/11/11 178.29
ML665 10266120063 26,500.00 26,500.00 08/10/96 07/10/11 178.26
ML665 10266120068 60,775.00 60,684.21 08/16/96 07/16/11 178.45
ML665 10266120092 25,710.00 25,710.00 08/01/96 07/01/11 178.00
ML665 10266120142 162,004.00 161,949.38 07/26/96 06/26/26 357.80
ML665 10266120166 19,000.00 19,000.00 08/19/96 07/19/11 178.55
ML665 10266120219 79,800.00 79,800.00 07/28/96 06/28/11 177.86
ML665 10266120290 15,000.00 14,677.09 08/03/96 07/03/16 238.03
ML665 10266120358 166,500.00 166,500.00 08/15/96 07/15/11 178.42
ML665 10266120455 24,000.00 24,000.00 08/23/96 07/23/16 238.68
ML665 10266120732 65,000.00 65,000.00 08/03/96 07/03/26 358.03
ML665 10266120743 29,700.00 29,639.88 08/22/96 07/22/11 178.65
ML665 10266120761 59,200.00 59,200.00 08/16/96 07/16/11 178.45
ML665 10266120899 115,000.00 114,905.66 08/16/96 07/16/11 178.45
ML665 10266120938 17,000.00 16,855.93 08/08/96 07/08/11 178.19
ML665 10266120940 24,957.00 24,957.00 07/28/96 06/28/11 177.86
ML665 10266121083 61,600.00 61,522.49 08/03/96 07/03/11 178.03
ML665 10266121100 121,500.00 121,500.00 07/19/96 06/19/11 177.57
ML665 10266121161 25,000.00 24,975.31 08/16/96 07/16/11 178.45
ML665 10266121165 192,400.00 192,400.00 08/19/96 07/19/26 358.55
ML665 10266121216 65,000.00 65,000.00 08/23/96 07/23/11 178.68
ML665 10266121230 19,000.00 19,000.00 08/15/96 07/15/16 238.42
ML665 10266121262 73,100.00 72,994.91 08/02/96 07/02/11 177.99
ML665 10266121263 159,500.00 159,367.30 08/10/96 07/10/11 178.26
ML665 10266121289 36,000.00 35,891.29 08/17/96 07/17/11 178.49
ML665 10266121308 175,000.00 174,931.80 07/26/96 06/26/11 177.80
ML665 10266121376 39,000.00 39,000.00 08/02/96 07/02/11 177.99
ML665 10266121499 60,000.00 59,923.79 08/18/96 07/18/11 178.52
ML665 10266121533 26,776.00 26,776.00 08/16/96 07/16/11 178.45
ML665 10266121535 33,900.00 33,826.38 07/19/96 06/19/11 177.57
ML665 10266121606 20,000.00 19,777.45 08/03/96 07/03/11 178.03
ML665 10266121648 38,800.00 38,562.44 07/21/96 06/21/11 177.63
ML665 10266121662 41,600.00 41,600.00 08/22/96 07/22/16 238.65
ML665 10266121687 19,200.00 19,200.00 08/12/96 07/12/11 178.32
ML665 10266121701 28,200.00 28,200.00 08/15/96 07/15/11 178.42
ML665 10266121804 45,400.00 45,250.45 08/17/96 07/17/06 118.49
ML665 10266121838 42,500.00 42,424.30 08/17/96 07/17/11 178.49
ML665 10266121845 64,531.00 64,531.00 08/16/96 07/16/16 238.45
ML665 10266121867 57,800.00 57,709.97 08/03/96 07/03/16 238.03
ML665 10266121903 66,643.00 66,625.60 08/16/96 07/16/11 178.45
ML665 10266121989 119,700.00 119,700.00 07/24/96 06/24/11 177.73
ML665 10266122042 23,400.00 23,400.00 08/17/96 07/17/11 178.49
ML665 10266122046 86,700.00 86,700.00 08/19/96 07/19/26 358.55
ML665 10266122061 23,600.00 23,510.01 08/12/96 07/12/06 118.32
ML665 10266122091 115,200.00 115,145.55 08/09/96 07/09/11 178.22
<CAPTION>
Original Current Scheduled
Date LTV Mortgage Payment
Sale ID Account Due Ratio Rate Int & Prin
- ---------------------------------------------------------------------------------------------
ML665 10266119169 09/17/96 84.7 12.700 330.80
ML665 10266119234 09/19/96 69.0 10.500 695.20
ML665 10266119335 10/01/96 78.8 9.900 809.28
ML665 10266119339 09/22/96 80.0 12.950 321.93
ML665 10266119420 10/14/96 84.9 12.250 204.34
ML665 10266119457 09/08/96 46.5 11.250 777.01
ML665 10266119507 08/15/96 49.5 10.000 300.89
ML665 10266119511 09/09/96 77.8 12.250 206.77
ML665 10266119598 09/08/96 89.9 11.650 131.91
ML665 10266119627 09/24/96 80.0 10.200 1,070.15
ML665 10266119722 09/16/96 67.0 11.150 573.02
ML665 10266119791 09/15/96 38.4 11.350 264.03
ML665 10266119812 09/12/96 71.7 11.250 483.98
ML665 10266119841 09/28/96 54.2 12.250 398.20
ML665 10266119845 09/19/96 69.7 11.990 660.23
ML665 10266119960 09/17/96 84.9 11.400 553.23
ML665 10266120016 09/15/96 35.0 10.700 557.83
ML665 10266120033 09/11/96 80.0 13.990 154.58
ML665 10266120063 09/10/96 79.9 12.950 334.42
ML665 10266120068 09/16/96 65.0 13.990 719.62
ML665 10266120092 09/01/96 89.9 11.250 249.71
ML665 10266120142 09/26/96 89.5 11.150 1,561.19
ML665 10266120166 09/19/96 79.4 13.990 252.90
ML665 10266120219 09/28/96 70.0 11.700 802.45
ML665 10266120290 12/03/96 16.4 9.000 134.96
ML665 10266120358 09/15/96 89.5 11.850 1,693.44
ML665 10266120455 09/23/96 89.4 11.900 262.59
ML665 10266120732 09/03/96 71.4 12.490 693.21
ML665 10266120743 09/22/96 89.8 11.000 337.57
ML665 10266120761 09/16/96 80.0 13.250 666.46
ML665 10266120899 09/16/96 69.0 11.000 1,307.09
ML665 10266120938 10/08/96 76.8 12.350 179.46
ML665 10266120940 08/28/96 79.8 12.950 314.95
ML665 10266121083 10/03/96 80.0 11.100 591.29
ML665 10266121100 08/19/96 66.0 9.990 1,065.35
ML665 10266121161 09/16/96 47.8 11.450 291.25
ML665 10266121165 09/19/96 80.0 13.500 2,203.77
ML665 10266121216 09/23/96 68.4 11.450 641.21
ML665 10266121230 09/15/96 88.6 11.740 205.77
ML665 10266121262 09/02/96 85.0 9.990 785.09
ML665 10266121263 09/10/96 70.8 9.990 1,398.55
ML665 10266121289 09/17/96 80.2 10.400 395.71
ML665 10266121308 09/26/96 63.6 12.700 1,894.90
ML665 10266121376 09/02/96 83.8 12.700 485.77
ML665 10266121499 09/18/96 77.4 12.950 757.17
ML665 10266121533 09/16/96 79.8 12.950 295.15
ML665 10266121535 09/19/96 89.9 12.450 360.49
ML665 10266121606 10/03/96 87.5 11.250 230.47
ML665 10266121648 09/21/96 84.9 12.700 483.28
ML665 10266121662 09/22/96 84.9 12.500 472.63
ML665 10266121687 09/12/96 69.8 10.700 214.62
ML665 10266121701 09/15/96 73.5 11.850 335.73
ML665 10266121804 09/17/96 90.0 11.650 642.21
ML665 10266121838 09/17/96 77.4 10.400 467.16
ML665 10266121845 09/16/96 81.6 12.700 742.28
ML665 10266121867 09/03/96 85.0 9.250 529.37
ML665 10266121903 09/16/96 79.2 12.250 698.35
ML665 10266121989 08/24/96 90.0 12.750 1,300.77
ML665 10266122042 09/17/96 89.8 12.000 240.70
ML665 10266122046 09/19/96 85.0 12.490 924.64
ML665 10266122061 09/12/96 89.0 12.050 339.27
ML665 10266122091 09/09/96 90.0 11.150 1,110.15
</TABLE>
<PAGE>
Alliance Funding Company Page 11 9/16/96
A division of Superior Bank FSB
Sale Schedule
1996-3 Class 1 - Initial Pool of Fixed Rate Mortgages - Settlement 9/23/96
<TABLE>
<CAPTION>
Zip
Sale ID Account Name Address City State Code
- -----------------------------------------------------------------------------------------------------------------------------
<C> <C> <S> <C> <C> <C> <C>
ML665 10266122111 TANG OSCAR B 11821 SOUTHEAST 79TH COURT RENTON WA 98056
ML665 10266122147 NEIL LOUISE R 1883 SUNSET WOODS COURT CLEARWATER FL 34623
ML665 10266122214 HEDLUND DAVID E 1420 LAWRENCE AVENUE SUMNER WA 98390
ML665 10266122227 GRAYSON CHRISTINE A 281 HILL AVENUE GLEN ELLYN IL 60137
ML665 10266122340 VACCARO MARK 391 RAMONA AVENUE STATEN ISLAND NY 10312
ML665 10266122419 HOOGASIAN SHARON 2512 FAWN COURT CLEARWATER FL 34621
ML665 10266122422 SIMERAL GORDON R 11952 STEINKAMP ROAD AUMSVILLE OR 97325
ML665 10266122425 MACKINTOSH GARY E 377 SOMERS ROAD ELLINGTON CT 06029
ML665 10266122428 SMITH CALVIN L 10072 OAK CIRCLE BROOMFIELD CO 80021
ML665 10266122434 GALARZA ELIZABETH 305 LINCOLN BLVD LEHIGH ACRES FL 33936
ML665 10266122520 HOOKS EDGAR WRIGHT JR 2002 S ELM STREET GREENVILLE NC 27834
ML665 10266122524 SPRAGUE BOYD F 1807 ST PAUL AVENUE FAYETTEVILLE NC 28304
ML665 10266122552 NORMAN REBECCA A 41419 DEER CREEK CIRCLE PARKER CO 80134
ML665 10266122564 RILEY LEILA 61 BAUER AVENUE ROOSEVELT NY 11575
ML665 10266122600 RATHMANN MARK A 3923 LAKE ROAD BROCKPORT NY 14420
ML665 10266122627 CISNEROS AURELIANO J 10308 NORTHEAST 141ST PLACE BOTHELL WA 98011
ML665 10266122655 HOPES RICHARD B 3875 WEST MAPLELEAF WAY WEST JORDAN UT 84088
ML665 10266122721 BILLUPS DANIEL D 3325 PEARTREE COURT COLORADO SPRINGS CO 80907
ML665 10266122820 ASCHERMAN MARCI JILL 5123 EAST 23RD AVENUE DENVER CO 80207
ML665 10266122923 BLACKMER RONALD N SR 62 ENGLISH NEIGHBORHOOD ROAD WOODSTOCK CT 06281
ML665 10266122933 LEE WILLIAM 1223 KEENE ROAD CLEARWATER FL 34616
ML665 10266122949 WILLIAMS LEOPOLD 4812 LOWELL ROAD TAMPA FL 33624
ML665 10266122974 CHANG HAK S 13810 SE HOLGATE BOULEVARD PORTLAND OR 97236
ML665 10266123029 CAMPBELL ROBERT LEWIS 310 HOPEWELL ROAD RISING SUN MD 21911
ML665 10266123075 MARDEN RONALD JAMES 56 GARDEN CIRCLE SYOSSET NY 11791
ML665 10266123106 TRUJILLO ELISEO 3361 NW 18TH STREET MIAMI FL 33125
ML665 10266123139 TAYLOR GEORGE W 5685 GREENVILLAGE ROAD CHAMBERSBURG PA 17201
ML665 10266123150 CARR STEWART G 4494 FORTUNE CIRCLE NORTH COLORADO SPRINGS CO 80917
ML665 10266123250 LARSON ROGER K 6621 SOUTH 5180 WEST WEST JORDAN UT 84084
ML665 10266123295 PRESLEY VALRIE F 616 EAST ST ELMO AVENUE COLORADO SPRINGS CO 80906
ML665 10266123314 MARRA KATHLEEN 542 LINDEN STREET WEST HEMPSTEAD NY 11552
ML665 10266123317 COSE JETTA 1963 COVENT COURT LITHONIA GA 30058
ML665 10266123318 LUMLEY WILLIAM K 16 ROBINSON AVENUE MEDFORD NY 11763
ML665 10266123327 LUNN GEOFFREY H 1510 SUMAC AVENUE BOULDER CO 80304
ML665 10266123345 DONNELLY ANNA 11469 RAVENNA ROAD TWINSBURG OH 44087
ML665 10266123440 YOUNG MICHAEL J 53 ELBERTA DRIVE EAST NORTHPORT NY 11731
ML665 10266123472 TYSCO DEBORAH 1832 10TH STREET SW LARGO FL 34648
ML665 10266123477 FINKIEWICZ JOSEPH M 4971 WEST 71ST PL WESTMINSTER CO 80030
ML665 10266123508 ABELES KENNETH A 8711 WELD COUNTY ROAD 23 FORT LUPTON CO 80621
ML665 10266123517 HARDIN LARRY R 199 HARPER STREET LOUISVILLE CO 80027
ML665 10266123537 ISAACSON JAMES M 41 WEST 395 WOODLAND DRIVE ST. CHARLES IL 60175
ML665 10266123550 SULLIVAN MARGARET L 3520 GREENWAY ROYAL OAK MI 48073
ML665 10266123646 BARNES ROBERT G 9707 CISCO DRIVE JACKSONVILLE FL 32219
ML665 10266123647 JUNGST DAVID 1042 EAST BEDFORD DRIVE KAYSVILLE UT 84037
ML665 10266123692 BLACK JOHN T 68 TWIN OAKS DRIVE KINGS PARK NY 11754
ML665 10266123807 MCBRIDE DENISE L 3215 LEYDEN STREET DENVER CO 80207
ML665 10266123810 GASTER ANGELA G 4165 CHENANGO DRIVE COLORADO SPRINGS CO 80911
ML665 10266123858 CLEMONS JOSEPH O 3209 LEIGHTON AVENUE BALTIMORE MD 21215
ML665 10266123876 STUPAK ANNA 7520 RIDGE AVENUE PHILADELPHIA PA 19128
ML665 10266123925 LERO STEINAR 8215 TARSIER AVE NEW PORT RICHEY FL 34653
ML665 10266124128 DESROSIERS DONNA I 9136 GRAY FOX LANE PORT RICHEY FL 34668
ML665 10266124163 ELDRIDGE DUANE B JR 4915 COLONEL BEALL PLACE UPPER MARLBORO MD 20772
ML665 10266124186 ROGERS D ALAN 608 NORTH 1100 WEST CLEARFIELD UT 84015
ML665 10266124290 NORMAN JOHN R JR 236 REYNOLDS ROAD FORT EDWARD NY 12828
ML665 10266124378 ALLEN BRIAN R 7386 SOUTH BANBURY CIRCLE SALT LAKE CITY UT 84121
ML665 10266124383 TRANE THOMAS A 6809 SOUTH 3300 WEST WEST JORDAN UT 84084
ML665 10266124384 CAMPBELL JAMES R 6239 SOUTH LOBELIA DRIVE WEST JORDAN UT 84084
ML665 10266124394 GARCIA ALBERT A 230 NORTH 1ST STREET TOOELE UT 84074
ML665 10266124400 HARPER SCOTT D 559 EAST CALNETTE DRIVE SANDY UT 84070
ML665 10266124407 KING G RANDALL 524 WEST 1240 NORTH OREM UT 84057
ML665 10266124499 SERAFINI BERNADINE H 212 POPPY LANE BENSENVILLE IL 60106
ML665 10266124537 BELL CYNTHIA M 9325 PERRY STREET WESTMINSTER CO 80030
<CAPTION>
Principal Cut-off Date First
Balance at Principal Payment Maturity Rem
Sale ID Account Origination Balance Date Date Term
- ---------------------------------------------------------------------------------------------------------------------
<C> <C> <S> <C> <C> <C> <C>
ML665 10266122111 36,000.00 35,972.32 08/09/96 07/09/11 178.22
ML665 10266122147 11,250.00 11,232.48 08/09/96 07/09/11 178.22
ML665 10266122214 22,000.00 22,000.00 08/12/96 07/12/11 178.32
ML665 10266122227 117,300.00 117,163.91 08/19/96 07/19/16 238.55
ML665 10266122340 32,885.00 32,882.33 08/19/96 07/19/11 178.55
ML665 10266122419 23,400.00 23,400.00 08/17/96 07/17/11 178.49
ML665 10266122422 75,500.00 75,500.00 08/15/96 07/15/11 178.42
ML665 10266122425 32,100.00 32,100.00 08/16/96 07/16/11 178.45
ML665 10266122428 23,750.00 23,629.21 08/17/96 07/17/11 178.49
ML665 10266122434 40,000.00 39,999.81 08/19/96 07/19/26 358.55
ML665 10266122520 123,200.00 123,129.68 08/16/96 07/16/11 178.45
ML665 10266122524 19,300.00 19,260.91 08/15/96 07/15/11 178.42
ML665 10266122552 63,713.00 63,713.00 08/15/96 07/15/11 178.42
ML665 10266122564 20,900.00 20,843.20 08/22/96 07/22/11 178.65
ML665 10266122600 33,700.00 33,642.38 08/19/96 07/19/11 178.55
ML665 10266122627 28,750.00 28,299.07 08/23/96 07/23/11 178.68
ML665 10266122655 55,670.00 55,670.00 08/22/96 07/22/11 178.65
ML665 10266122721 21,719.00 21,690.60 08/22/96 07/22/16 238.65
ML665 10266122820 127,500.00 127,500.00 08/08/96 07/08/26 358.19
ML665 10266122923 35,000.00 34,965.06 08/22/96 07/22/16 238.65
ML665 10266122933 15,000.00 14,959.06 08/16/96 07/16/11 178.45
ML665 10266122949 161,000.00 161,000.00 08/01/96 07/01/11 178.00
ML665 10266122974 48,600.00 48,600.00 08/17/96 07/17/16 238.49
ML665 10266123029 105,170.00 105,170.00 08/03/96 07/03/26 358.03
ML665 10266123075 44,280.00 44,280.00 08/16/96 07/16/16 238.45
ML665 10266123106 29,450.00 29,450.00 08/19/96 07/19/11 178.55
ML665 10266123139 140,250.00 140,243.76 08/19/96 07/19/11 178.55
ML665 10266123150 23,500.00 23,426.40 08/23/96 07/23/11 178.68
ML665 10266123250 31,807.00 31,807.00 07/25/96 06/25/11 177.76
ML665 10266123295 54,000.00 53,992.55 08/19/96 07/19/26 358.55
ML665 10266123314 33,000.00 32,841.32 08/23/96 07/23/11 178.68
ML665 10266123317 74,250.00 74,245.14 08/08/96 07/08/26 358.19
ML665 10266123318 23,800.00 23,735.46 08/23/96 07/23/11 178.68
ML665 10266123327 91,215.00 91,215.00 08/16/96 07/16/11 178.45
ML665 10266123345 35,000.00 34,995.78 08/17/96 07/17/16 238.49
ML665 10266123440 15,800.00 15,774.42 08/19/96 07/19/11 178.55
ML665 10266123472 57,800.00 57,800.00 08/19/96 07/19/16 238.55
ML665 10266123477 20,900.00 20,855.26 08/22/96 07/22/11 178.65
ML665 10266123508 84,000.00 84,000.00 08/16/96 07/16/11 178.45
ML665 10266123517 104,000.00 104,000.00 08/22/96 07/22/26 358.65
ML665 10266123537 144,000.00 144,000.00 08/17/96 07/17/26 358.49
ML665 10266123550 30,000.00 30,000.00 08/19/96 07/19/11 178.55
ML665 10266123646 17,500.00 17,458.29 08/22/96 07/22/06 118.65
ML665 10266123647 23,000.00 22,982.46 08/17/96 07/17/11 178.49
ML665 10266123692 33,000.00 33,000.00 08/23/96 07/23/11 178.68
ML665 10266123807 19,000.00 18,775.20 08/22/96 07/22/11 178.65
ML665 10266123810 31,300.00 31,300.00 08/19/96 07/19/16 238.55
ML665 10266123858 50,200.00 50,200.00 08/17/96 07/17/11 178.49
ML665 10266123876 25,000.00 24,884.01 08/19/96 07/19/06 118.55
ML665 10266123925 15,900.00 15,845.33 08/19/96 07/19/11 178.55
ML665 10266124128 28,500.00 28,500.00 08/23/96 07/23/11 178.68
ML665 10266124163 54,695.00 54,375.57 08/16/96 07/16/11 178.45
ML665 10266124186 45,948.00 45,948.00 08/02/96 07/02/11 177.99
ML665 10266124290 26,200.00 26,198.92 08/22/96 07/22/11 178.65
ML665 10266124378 74,000.00 73,808.77 08/03/96 07/03/16 238.03
ML665 10266124383 58,900.00 58,886.99 08/05/96 07/05/11 178.09
ML665 10266124384 49,640.00 49,424.19 08/03/96 07/03/11 178.03
ML665 10266124394 16,000.00 15,949.04 08/03/96 07/03/11 178.03
ML665 10266124400 37,000.00 36,833.05 08/03/96 07/03/11 178.03
ML665 10266124407 42,500.00 42,493.64 08/03/96 07/03/11 178.03
ML665 10266124499 54,900.00 54,900.00 08/12/96 07/12/11 178.32
ML665 10266124537 105,300.00 105,300.00 08/22/96 07/22/26 358.65
<CAPTION>
Original Current Scheduled
Date LTV Mortgage Payment
Sale ID Account Due Ratio Rate Int & Prin
- ---------------------------------------------------------------------------------------------
ML665 10266122111 09/09/96 71.4 12.200 436.70
ML665 10266122147 09/09/96 10.4 9.700 118.84
ML665 10266122214 09/12/96 89.6 11.400 255.60
ML665 10266122227 09/19/96 85.0 9.990 1,131.19
ML665 10266122340 09/19/96 89.9 12.250 344.60
ML665 10266122419 09/17/96 85.0 12.690 291.31
ML665 10266122422 09/15/96 81.9 12.990 834.59
ML665 10266122425 09/16/96 89.8 12.500 395.64
ML665 10266122428 09/17/96 83.0 11.750 281.23
ML665 10266122434 09/19/96 80.0 13.250 450.31
ML665 10266122520 09/16/96 80.0 12.900 1,550.68
ML665 10266122524 09/15/96 84.9 12.700 240.39
ML665 10266122552 09/15/96 79.9 13.750 742.33
ML665 10266122564 09/22/96 89.9 11.250 240.84
ML665 10266122600 09/19/96 89.7 12.500 415.36
ML665 10266122627 10/23/96 81.9 12.990 363.57
ML665 10266122655 09/22/96 90.0 12.000 572.63
ML665 10266122721 09/22/96 79.9 14.250 274.03
ML665 10266122820 08/08/96 85.0 11.700 1,282.11
ML665 10266122923 09/22/96 36.8 10.900 358.89
ML665 10266122933 09/16/96 73.7 10.450 165.35
ML665 10266122949 09/01/96 84.7 9.900 1,401.01
ML665 10266122974 09/17/96 79.1 12.950 567.66
ML665 10266123029 09/03/96 80.9 9.950 919.06
ML665 10266123075 09/16/96 89.8 11.400 469.17
ML665 10266123106 09/19/96 84.7 11.900 351.56
ML665 10266123139 09/19/96 85.0 9.750 1,204.96
ML665 10266123150 09/23/96 89.8 12.000 282.04
ML665 10266123250 08/25/96 89.9 12.600 394.10
ML665 10266123295 09/19/96 90.0 11.500 534.76
ML665 10266123314 09/23/96 84.8 12.750 412.12
ML665 10266123317 09/08/96 90.0 12.400 786.68
ML665 10266123318 09/23/96 85.0 12.750 297.22
ML665 10266123327 09/16/96 84.9 12.990 1,008.31
ML665 10266123345 09/17/96 38.4 9.000 314.90
ML665 10266123440 09/19/96 85.0 12.990 199.80
ML665 10266123472 09/19/96 85.0 10.250 567.39
ML665 10266123477 09/22/96 89.9 12.000 250.84
ML665 10266123508 09/16/96 80.0 10.750 784.12
ML665 10266123517 09/22/96 72.2 13.500 1,191.23
ML665 10266123537 09/17/96 80.0 11.000 1,371.35
ML665 10266123550 09/19/96 25.8 10.990 285.47
ML665 10266123646 09/22/96 35.0 10.900 240.07
ML665 10266123647 09/17/96 79.6 11.650 230.40
ML665 10266123692 08/23/96 79.2 12.990 417.31
ML665 10266123807 10/22/96 83.8 10.750 212.98
ML665 10266123810 09/19/96 84.9 12.990 366.48
ML665 10266123858 09/17/96 80.9 12.500 535.76
ML665 10266123876 09/19/96 15.6 10.300 334.54
ML665 10266123925 09/19/96 84.9 10.450 175.27
ML665 10266124128 09/23/96 75.0 13.500 326.44
ML665 10266124163 09/16/96 85.8 9.950 586.08
ML665 10266124186 09/02/96 83.9 12.600 569.31
ML665 10266124290 09/22/96 84.9 12.990 289.62
ML665 10266124378 10/03/96 89.9 12.200 825.15
ML665 10266124383 09/05/96 89.8 12.900 741.36
ML665 10266124384 10/03/96 89.4 12.840 622.85
ML665 10266124394 09/03/96 84.0 12.600 198.25
ML665 10266124400 10/03/96 76.2 14.700 510.27
ML665 10266124407 09/03/96 83.7 12.050 511.44
ML665 10266124499 09/12/96 73.0 12.990 606.87
ML665 10266124537 09/22/96 90.0 11.500 1,042.78
</TABLE>
<PAGE>
Alliance Funding Company Page 12 9/16/96
A division of Superior Bank FSB
Sale Schedule
1996-3 Class 1 - Initial Pool of Fixed Rate Mortgages - Settlement 9/23/96
<TABLE>
<CAPTION>
Zip
Sale ID Account Name Address City State Code
- -----------------------------------------------------------------------------------------------------------------------------
<C> <C> <S> <C> <C> <C> <C>
ML665 10266124692 PERSSICO VINCENT P JR 170 CEDAR STREET SEYMOUR CT 06483
ML665 10266124714 BERNARD ROBERT B RD 1 BOX 685 SPORTSMAN ROAD HUNKER PA 15639
ML665 10266124744 DRAPER SUZANNE R 8523 SOUTH JACKSON HOLE DRIVE SANDY UT 84093
ML665 10266124745 TINCHER CLIFTON R 1809 NORTH 285 WEST LAYTON UT 84041
ML665 10266124746 GLOVER KENNETH J 10577 SOUTH CLEARVIEW DRIVE SANDY UT 84070
ML665 10266124747 SANDOZ DOUGLAS G 4423 SOUTH 1800 WEST ROY UT 84067
ML665 10266124817 WEAVER CHRISTIAN L 1924 ELIZABETH STREET PUEBLO CO 81003
ML665 10266124913 GLOWINSKI DONALD A JR 3525 E SOUTHPORT INDIANAPOLIS IN 46227
ML665 10266124962 MERRILL JOHN A 7327 SOUTH 1975 WEST WEST JORDAN UT 84084
ML665 10266124993 MCCOY CAROLYN F 4134 THE ALAMEDA BALTIMORE MD 21218
ML665 10266125023 WALJE BARRY J 12810 SOUTH NATALIE DRIVE RIVERTON UT 84065
ML665 10266125026 GOSSIN WILLIAM R 428 HICKORY STREET BROOMFIELD CO 80022
ML665 10266125036 GRGICH DANIEL A 478 SLEEPY HOLLOW DRIVE TOOELE UT 84074
ML665 10266125161 PETER GERALD J 1942 TRUDA DRIVE NORTHGLENN CO 80233
ML665 10266125172 YOUNG RAY A 5860 OAKWOOD BLVD COLORADO SPRINGS CO 80918
ML665 10266125310 GONZALEZ ROGELIO 856/858/860 FOX STREET DENVER CO 80204
ML665 10266125424 DAVIS WILLIAM BOSTOCK ROAD SHOKAN NY 12481
ML665 10266125586 ALCOCER JULIO 3525 HARRISON STREET DENVER CO 80205
ML665 10266126016 HUDSON JEFFREY E 4075 SOUTH 3515 WEST SALT LAKE CITY UT 84119
-------------------------------------------
205 Sale Total
<CAPTION>
Principal Cut-off Date First
Balance at Principal Payment Maturity Rem
Sale ID Account Origination Balance Date Date Term
- ---------------------------------------------------------------------------------------------------------------------
<C> <C> <S> <C> <C> <C> <C>
ML665 10266124692 75,000.00 74,871.37 08/24/96 07/24/16 238.72
ML665 10266124714 74,000.00 74,000.00 08/12/96 07/12/11 178.32
ML665 10266124744 42,100.00 42,100.00 08/09/96 07/09/11 178.22
ML665 10266124745 14,257.00 14,257.00 08/09/96 07/09/11 178.22
ML665 10266124746 11,000.00 10,963.10 08/09/96 07/09/11 178.22
ML665 10266124747 25,621.00 25,590.12 08/09/96 07/09/11 178.22
ML665 10266124817 93,400.00 93,400.00 08/22/96 07/22/11 178.65
ML665 10266124913 102,000.00 101,908.63 08/17/96 07/17/26 358.49
ML665 10266124962 15,775.00 15,757.81 08/23/96 07/23/11 178.68
ML665 10266124993 63,750.00 63,750.00 08/23/96 07/23/11 178.68
ML665 10266125023 18,567.00 18,503.56 08/10/96 07/10/11 178.26
ML665 10266125026 111,600.00 111,600.00 08/19/96 07/19/26 358.55
ML665 10266125036 22,515.00 22,490.04 08/10/96 07/10/11 178.26
ML665 10266125161 13,400.00 13,400.00 08/18/96 07/18/11 178.52
ML665 10266125172 15,760.00 15,760.00 08/22/96 07/22/11 178.65
ML665 10266125310 79,100.00 79,010.94 08/22/96 07/22/11 178.65
ML665 10266125424 45,500.00 45,415.52 07/28/96 06/28/16 237.86
ML665 10266125586 59,500.00 59,435.38 08/22/96 07/22/26 358.65
ML665 10266126016 38,300.00 38,217.68 08/19/96 07/19/11 178.55
--------------------------------------------------------- -------------
205 12,001,124.00 11,988,860.69 228.18
<CAPTION>
Original Current Scheduled
Date LTV Mortgage Payment
Sale ID Account Due Ratio Rate Int & Prin
- ---------------------------------------------------------------------------------------------
ML665 10266124692 09/24/96 53.5 13.590 910.39
ML665 10266124714 09/12/96 80.0 10.500 676.91
ML665 10266124744 09/09/96 65.9 14.090 563.21
ML665 10266124745 09/09/96 79.7 15.350 202.97
ML665 10266124746 09/09/96 82.2 13.350 141.72
ML665 10266124747 09/09/96 72.3 15.350 364.75
ML665 10266124817 08/22/96 74.7 10.250 836.96
ML665 10266124913 09/17/96 85.0 9.000 820.72
ML665 10266124962 09/23/96 89.9 11.650 158.03
ML665 10266124993 09/23/96 85.0 10.950 604.70
ML665 10266125023 09/10/96 89.7 12.900 233.70
ML665 10266125026 09/19/96 90.0 11.500 1,105.17
ML665 10266125036 09/10/96 67.3 12.200 273.12
ML665 10266125161 08/18/96 89.9 12.000 160.82
ML665 10266125172 08/22/96 80.0 14.250 212.54
ML665 10266125310 09/22/96 70.0 10.100 854.86
ML665 10266125424 09/28/96 70.0 10.500 454.26
ML665 10266125586 09/22/96 85.0 12.250 623.50
ML665 10266126016 09/19/96 73.7 10.950 434.11
------------------ -------------------------------------------
205 77.6 11.581 125,792.29
</TABLE>
<PAGE>
Alliance Funding Company Page 13 9/16/96
A division of Superior Bank FSB
Sale Schedule
1996-3 Class 1 - Initial Pool of Fixed Rate Mortgages - Settlement 9/23/96
<TABLE>
<CAPTION>
Zip
Sale ID Account Name Address City State Code
- -----------------------------------------------------------------------------------------------------------------------------
<C> <C> <S> <C> <C> <C> <C>
ML666 10266108808 MCGUIRK TERRI-LYNNE T 30 CLOVER HILL DRIVE CALIFON NJ 07830
ML666 10266109823 BILOTTI JOHN F 124 RIVA BOULEVARD BRICK NJ 08723
ML666 10266109866 ZIERKE PEGGY J 5050 TROY STREET DENVER CO 80239
ML666 10266110805 GAYLORD LEON J JR 401 PROSPECT AVENUE LITTLE SILVER NJ 07739
ML666 10266111903 MELFI AGNES 65 HELENE COURT STATEN ISLAND NY 10309
ML666 10266113841 DETRINIS VINCENT P 191 NORWOOD AVENUE PORT JEFFERSON STATI NY 11776
ML666 10266113970 RITTER CHRISTOPHER S 734 N WEST STREET CARLISLE PA 17013
ML666 10266113979 RODRIGUEZ PEDRO 12 CONEWAGO HILL ROAD MOUNT GRETNA PA 17064
ML666 10266113997 ROBERSON BRYAN K 3003 MISTYMORN TRACE POWDER SPRINGS GA 30073
ML666 10266114236 PAUL MICHAEL E 5218 VISTA GRANDE DRIVE SANTA ROSA CA 95403
ML666 10266114540 RENNA DOMENICO 580 WOODROW ROAD STATEN ISLAND NY 10312
ML666 10266115753 KING PAUL E 3004 OWASCO DRIVE WATERLOO NY 13165
ML666 10266115811 CRUZ DANIEL 3726 MEADOW LANE YORKTOWN NY 10588
ML666 10266115966 LYNCH DAVID T 689 S PANTANO PARKWAY TUCSON AZ 85710
ML666 10266116182 REMSEN DAVID H 162 SOUTH HAVEN AVENUE MASTIC NY 11950
ML666 10266116392 KRAMER ALVIN 18 STONYWELL COURT DIX HILLS NY 11746
ML666 10266116986 PARENTE JOHN R 15 CANTERBURY LANE LEBANON NJ 08833
ML666 10266117022 OST RICHARD A 9039 BILLOW ROW COLUMBIA MD 21045
ML666 10266117131 LOCONTE LOUIS V 87 VINCENT AVENUE STATEN ISLAND NY 10306
ML666 10266117155 SUNG JANG OK 25 WAVERLY ROAD CHERRY HILL NJ 08003
ML666 10266117190 ROUTHIER DAVID A JR 722 HOLMES DRIVE COLORADO SPRINGS CO 80909
ML666 10266118008 STUMM GARY M 918-920 WELLER STREET LIVE OAK FL 32060
ML666 10266118079 MENSINGER WAYNE E 20 KNOCKEL ROAD GREEN LANE PA 18054
ML666 10266118241 MUOIO ILONA 109 LISPENARD AVENUE NEW ROCHELLE NY 10801
ML666 10266118340 STERLING PAULINE 155 32 114TH ROAD JAMAICA NY 11435
ML666 10266118381 JONES WILLIAM III 2257 MOUNT CARMEL AVENUE GLENSIDE PA 19038
ML666 10266118478 ZAMANI ROBAB A 1597 CAREY PLACE FREDERICK MD 21701
ML666 10266118625 YOX KENNETH 12815 ERIE STREET IRVING NY 14081
ML666 10266118664 GALLEGOS SAMUEL F 1789 CHAUTAUQUA DRIVE COLORADO SPRINGS CO 80915
ML666 10266118823 BURTON LYLE E 1574 EAST CHEROKEE DRIVE PLEASANT GROVE UT 84062
ML666 10266118916 LINKO JOHN 1421 ARMACOST ROAD PARKTON MD 21120
ML666 10266118978 QUINN MARGARET M 323 12TH AVENUE INDIAN ROCKS BEACH FL 34635
ML666 10266119034 GUERRIERO NEIL H 49 CHERRYVILLE HOLLOW ROAD FLEMINGTON NJ 08822
ML666 10266119041 JAMISON PATRICIA B 25 NORTH LOCUST STREET LITITZ PA 17543
ML666 10266119072 HAGEN ROBERT A 6411 SOUTH CLERNATES DRIVE WEST JORDAN UT 84084
ML666 10266119083 GRIMES MARY J 3259 ZINNIA COURT GOLDEN CO 80401
ML666 10266119153 MANANZAN TEOFILO 31 HARMONY ROAD SPRING VALLEY NY 10977
ML666 10266119184 SUDLER GAIL E 1015 EAST 27TH STREET WILMINGTON DE 19802
ML666 10266119208 MAGLOIRE GEORGE 32 WELLINGTON ROAD ELMONT NY 11003
ML666 10266119218 DEAL ANNA RR #1 BOX 1542 ROUTE 507 GOULDSBORO PA 18429
ML666 10266119227 SUDLER ROBIN E 1004 BALTIMORE AVENUE ELSMERE DE 19805
ML666 10266119265 FORMICA EDWARD 20 EAST 3RD STREET HOWELL NJ 07731
ML666 10266119284 CURWEN JR ERNEST 1839 NORTH 500 WEST LEHI UT 84043
ML666 10266119288 CASEY ROBERT F JR 25 MEMORY LANE LA HONDA CA 94020
ML666 10266119316 SAMOWITZ SANDOR 4358 INVERARY WALK ROSWELL GA 30075
ML666 10266119330 TAYLOR JUDITH L 6357 81ST AVENUE N PINELLAS PARK FL 34665
ML666 10266119331 LEWIS MALCOLM L 5010 LEWIS WAY MOAPA NV 89025
ML666 10266119334 MAES JOHN R 5324 DON MARIANO SW ALBUQUERQUE NM 87105
ML666 10266119346 LLOYD E LYNN 12268 SOUTH 1300 WEST RIVERTON UT 84065
ML666 10266119372 GARBER JACOB E JR 6 COOK ROAD DUNCANNON PA 17020
ML666 10266119376 GERMANY HARVEY L JR 7236 MOUNT VERNON STREET PITTSBURGH PA 15208
ML666 10266119426 WINTERSTEIN MICHAEL E 437 W JAMES STREET LANCASTER PA 17603
ML666 10266119430 CANNON DAVID P JR 207 CLAYTON AVENUE CLAYTON DE 19938
ML666 10266119513 MONTGOMERY CHARLES R 207 NORTH TOQUERVILLE BLVD TOQUERVILLE UT 84774
ML666 10266119605 MAJETT JOSEPHINE 5164 PENNWAY STREET PHILADELPHIA PA 19124
ML666 10266119616 FIERSON JEFFREY 722 WEBSTER AVENUE NEW ROCHELLE NY 10801
ML666 10266119660 MCDANIEL VIVIAN I 3101 FLORIDA STREET NE ALBUQUERQUE NM 87110
ML666 10266119839 DUNCAN KENDRA E 26056 S. DIXIE HIGHWAY CRETE IL 60417
ML666 10266119987 YATES DAVID J JR 333 COUNTRY PARKWAY AMHERST NY 14221
ML666 10266120058 KILPATRICK ALTON 348 CIRCLE DRIVE WACHULA FL 33873
ML666 10266120298 POST KERRI A 1002 WILMINGTON AVENUE BALTIMORE MD 21223
ML666 10266120310 MEDINA FIDIAS 508 PUGSLEY AVENUE BRONX NY 10473
<CAPTION>
Principal Cut-off Date First
Balance at Principal Payment Maturity Rem
Sale ID Account Origination Balance Date Date Term
- ---------------------------------------------------------------------------------------------------------------------
<C> <C> <S> <C> <C> <C> <C>
ML666 10266108808 15,000.00 14,995.53 07/05/96 06/05/11 177.11
ML666 10266109823 89,000.00 88,507.50 05/25/96 04/25/11 175.76
ML666 10266109866 41,000.00 40,845.78 07/24/96 06/24/11 177.73
ML666 10266110805 24,000.00 23,828.89 06/20/96 05/20/11 176.58
ML666 10266111903 50,000.00 49,834.52 07/24/96 06/24/11 177.73
ML666 10266113841 30,495.00 30,495.00 08/16/96 07/16/11 178.45
ML666 10266113970 10,000.00 9,961.77 08/26/96 07/26/11 178.78
ML666 10266113979 19,000.00 18,941.39 08/19/96 07/19/06 118.55
ML666 10266113997 79,980.00 79,980.00 08/01/96 07/01/26 358.00
ML666 10266114236 46,200.00 46,200.00 07/19/96 06/19/11 177.57
ML666 10266114540 70,000.00 70,000.00 08/02/96 07/02/11 177.99
ML666 10266115753 39,000.00 38,910.01 08/19/96 07/19/26 358.55
ML666 10266115811 117,300.00 117,300.00 08/17/96 07/17/26 358.49
ML666 10266115966 30,000.00 30,000.00 07/28/96 06/28/11 177.86
ML666 10266116182 90,000.00 89,928.93 08/16/96 07/16/26 358.45
ML666 10266116392 237,500.00 236,463.99 07/28/96 06/28/11 177.86
ML666 10266116986 90,000.00 89,931.68 08/01/96 07/01/11 178.00
ML666 10266117022 26,450.00 26,450.00 08/22/96 07/22/11 178.65
ML666 10266117131 23,000.00 23,000.00 08/01/96 07/01/11 178.00
ML666 10266117155 20,600.00 20,600.00 09/01/96 08/01/11 179.00
ML666 10266117190 15,000.00 14,876.48 08/10/96 07/10/11 178.26
ML666 10266118008 38,800.00 38,712.92 08/15/96 07/15/11 178.42
ML666 10266118079 90,900.00 90,589.90 08/17/96 07/17/11 178.49
ML666 10266118241 40,000.00 39,953.27 07/24/96 06/24/16 237.73
ML666 10266118340 139,500.00 139,430.19 08/08/96 07/08/26 358.19
ML666 10266118381 21,500.00 21,461.12 07/26/96 06/26/11 177.80
ML666 10266118478 18,713.00 18,664.68 08/26/96 07/26/11 178.78
ML666 10266118625 45,000.00 44,887.65 08/17/96 07/17/16 238.49
ML666 10266118664 41,740.00 41,739.99 08/24/96 07/24/11 178.72
ML666 10266118823 27,000.00 26,979.15 08/17/96 07/17/11 178.49
ML666 10266118916 57,254.00 57,254.00 08/05/96 07/05/11 178.09
ML666 10266118978 101,600.00 101,370.12 07/14/96 06/14/26 357.40
ML666 10266119034 153,500.00 153,500.00 08/09/96 07/09/11 178.22
ML666 10266119041 64,600.00 64,542.18 08/12/96 07/12/26 358.32
ML666 10266119072 20,000.00 19,936.71 08/26/96 07/26/11 178.78
ML666 10266119083 65,000.00 63,988.94 07/26/96 06/26/11 177.80
ML666 10266119153 107,200.00 107,200.00 08/11/96 07/11/11 178.29
ML666 10266119184 42,000.00 42,000.00 08/26/96 07/26/11 178.78
ML666 10266119208 35,000.00 34,901.63 08/03/96 07/03/11 178.03
ML666 10266119218 59,850.00 59,826.61 08/16/96 07/16/11 178.45
ML666 10266119227 52,585.00 52,585.00 08/26/96 07/26/11 178.78
ML666 10266119265 30,500.00 30,448.70 08/19/96 07/19/11 178.55
ML666 10266119284 55,000.00 54,389.32 07/01/96 06/01/11 177.00
ML666 10266119288 114,000.00 113,834.04 07/26/96 06/26/11 177.80
ML666 10266119316 113,600.00 113,563.70 07/07/96 06/07/11 177.17
ML666 10266119330 50,400.00 50,397.16 08/09/96 07/09/26 358.22
ML666 10266119331 150,000.00 149,300.36 07/17/96 06/17/16 237.50
ML666 10266119334 90,000.00 88,983.41 07/25/96 06/25/11 177.76
ML666 10266119346 30,000.00 30,000.00 07/10/96 06/10/11 177.27
ML666 10266119372 46,400.00 46,400.00 08/24/96 07/24/16 238.72
ML666 10266119376 19,500.00 19,500.00 08/18/96 07/18/11 178.52
ML666 10266119426 148,000.00 148,000.00 08/08/96 07/08/11 178.19
ML666 10266119430 43,300.00 43,300.00 08/01/96 07/01/11 178.00
ML666 10266119513 71,250.00 71,250.00 08/25/96 07/25/26 358.75
ML666 10266119605 32,900.00 32,900.00 08/17/96 07/17/11 178.49
ML666 10266119616 59,500.00 59,500.00 08/01/96 07/01/11 178.00
ML666 10266119660 84,000.00 83,993.66 08/09/96 07/09/11 178.22
ML666 10266119839 72,200.00 71,953.04 07/19/96 06/19/16 237.57
ML666 10266119987 37,790.00 37,790.00 07/27/96 06/27/11 177.83
ML666 10266120058 76,050.00 76,050.00 08/11/96 07/11/26 358.29
ML666 10266120298 52,000.00 52,000.00 07/24/96 06/24/11 177.73
ML666 10266120310 171,000.00 171,000.00 08/10/96 07/10/26 358.26
<CAPTION>
Original Current Scheduled
Date LTV Mortgage Payment
Sale ID Account Due Ratio Rate Int & Prin
- ---------------------------------------------------------------------------------------------
ML666 10266108808 09/05/96 86.6 10.740 139.91
ML666 10266109823 08/25/96 64.9 13.100 991.48
ML666 10266109866 09/24/96 77.2 11.000 466.00
ML666 10266110805 09/20/96 79.6 14.990 335.74
ML666 10266111903 09/24/96 17.2 9.990 438.42
ML666 10266113841 08/16/96 85.5 12.250 319.56
ML666 10266113970 09/26/96 11.5 11.250 115.23
ML666 10266113979 09/19/96 77.1 13.350 287.63
ML666 10266113997 09/01/96 77.6 13.050 887.87
ML666 10266114236 09/19/96 84.9 13.450 527.36
ML666 10266114540 09/02/96 62.1 11.990 839.67
ML666 10266115753 09/19/96 87.6 11.150 375.83
ML666 10266115811 09/17/96 85.0 12.500 1,251.89
ML666 10266115966 08/28/96 89.5 11.650 353.32
ML666 10266116182 09/16/96 90.0 10.900 850.30
ML666 10266116392 09/28/96 60.8 9.750 2,515.99
ML666 10266116986 10/01/96 85.0 12.950 992.06
ML666 10266117022 09/22/96 85.8 12.700 329.45
ML666 10266117131 09/01/96 59.0 11.350 266.49
ML666 10266117155 09/01/96 80.1 12.850 225.46
ML666 10266117190 10/10/96 74.3 12.500 184.88
ML666 10266118008 09/15/96 80.0 10.500 354.92
ML666 10266118079 09/17/96 84.2 12.700 1,132.22
ML666 10266118241 09/24/96 58.6 11.500 426.57
ML666 10266118340 09/08/96 90.0 10.750 1,302.21
ML666 10266118381 09/26/96 84.9 12.990 271.89
ML666 10266118478 09/26/96 80.0 13.990 249.08
ML666 10266118625 09/17/96 90.0 10.750 456.85
ML666 10266118664 09/24/96 84.8 12.500 514.45
ML666 10266118823 09/17/96 48.5 12.200 327.53
ML666 10266118916 09/05/96 79.9 12.200 597.75
ML666 10266118978 09/14/96 80.0 10.700 944.60
ML666 10266119034 09/09/96 73.0 9.990 1,345.94
ML666 10266119041 09/12/96 86.7 11.000 615.20
ML666 10266119072 09/26/96 89.6 11.650 235.55
ML666 10266119083 10/26/96 84.2 9.990 698.10
ML666 10266119153 09/11/96 80.0 10.500 980.60
ML666 10266119184 08/26/96 70.0 10.000 368.58
ML666 10266119208 09/03/96 82.8 9.990 375.90
ML666 10266119218 09/16/96 70.0 12.750 650.39
ML666 10266119227 09/26/96 80.9 12.850 575.54
ML666 10266119265 09/19/96 65.5 11.200 350.50
ML666 10266119284 09/01/96 84.4 13.200 703.14
ML666 10266119288 09/26/96 84.8 13.550 1,310.26
ML666 10266119316 09/07/96 76.7 11.500 1,124.97
ML666 10266119330 09/09/96 80.0 12.500 537.90
ML666 10266119331 09/17/96 79.3 9.500 1,398.20
ML666 10266119334 10/25/96 66.6 10.500 823.27
ML666 10266119346 09/10/96 81.7 12.000 360.05
ML666 10266119372 09/24/96 89.8 11.990 510.58
ML666 10266119376 09/18/96 65.0 11.350 190.88
ML666 10266119426 09/08/96 69.8 10.500 1,353.81
ML666 10266119430 09/01/96 90.0 12.600 465.49
ML666 10266119513 09/25/96 75.0 12.490 759.87
ML666 10266119605 09/17/96 70.0 11.990 338.16
ML666 10266119616 09/01/96 36.0 10.990 675.90
ML666 10266119660 09/09/96 68.8 12.250 880.23
ML666 10266119839 09/19/96 84.9 9.990 696.27
ML666 10266119987 08/27/96 89.9 11.650 378.56
ML666 10266120058 09/11/96 90.0 10.750 709.91
ML666 10266120298 08/24/96 69.3 11.750 524.89
ML666 10266120310 09/10/96 90.0 10.650 1,583.41
</TABLE>
<PAGE>
Alliance Funding Company Page 14 9/16/96
A division of Superior Bank FSB
Sale Schedule
1996-3 Class 1 - Initial Pool of Fixed Rate Mortgages - Settlement 9/23/96
<TABLE>
<CAPTION>
Zip
Sale ID Account Name Address City State Code
- -----------------------------------------------------------------------------------------------------------------------------
<C> <C> <S> <C> <C> <C> <C>
ML666 10266120454 ALTON CAROL M 17405 58TH AVENUE WEST LYNNWOOD WA 98037
ML666 10266120456 DONNELLY JAMES G 640 STATE ROAD COOPERSBURG PA 18036
ML666 10266120495 ALVARADO NORIS 87-52 143RD STREET JAMAICA NY 11435
ML666 10266120648 KHALIL KALID 505 NORTH WASHINGTON WESTMONT IL 60559
ML666 10266120777 SCHEFFLER DOUGLAS C 720 WEST THIRD STREET APPLETON WI 54914
ML666 10266120825 HARRIS ELVITA 905 SUPERIOR AVE. DAYTON OH 45407
ML666 10266120881 ESPOSITO GEORGE N 700 SOUTH EAST 25TH LANE HOMESTEAD FL 33033
ML666 10266120889 DASCOLI FRANK 6334 WESTPORT DRIVE PORT RICHEY FL 34668
ML666 10266120908 OTT MICHAEL J 807 CHEW STREET ALLENTOWN PA 18102
ML666 10266120909 OTT MICHAEL J 413 NORTH SIXTH STREET ALLENTOWN PA 18102
ML666 10266120915 ZELANO ROBERT J 86 CROSS KEY ROAD BERNVILLE PA 19506
ML666 10266121038 COLUMBO JOSEPH 2461 STATLER AVE SPRING HILL FL 34609
ML666 10266121060 SCHUMANN CRAIG H 724 EAST 3230 NORTH PROVO UT 84604
ML666 10266121144 BAXTER CHARLES GREGORY 3511 JACONA DRIVE JACKSONVILLE FL 32277
ML666 10266121296 BLOOM SOL 559 KEARNEY AVENUE CLIFFSIDE PARK NJ 07010
ML666 10266121404 BROWN GERALD L 3408 CUMBERLAND ROAD TOBYHANNA PA 18466
ML666 10266121458 RODRIGUEZ ANA C 105 RUDEN STREET WEST HAVEN CT 06516
ML666 10266121510 TOWNER LAWRENCE A II 1645 LONGLEAF TRAIL CUMMING GA 30130
ML666 10266121619 HESKETH DONALD J 9365 ANN HARBOR DRIVE GAINESVILLE GA 30506
ML666 10266121633 MURRAY HORACE 43 PAERDEGAT 5TH STREET BROOKLYN NY 11230
ML666 10266121686 WEBB ELIZABETH ANN 14921 EVANSTON DETROIT MI 48205
ML666 10266121758 HOWARD WILLIAM J 21 WOODLAND ROAD EAST HARTFORD CT 06108
ML666 10266121768 COHEN JOYCE 3567 BEDFORD AVENUE BROOKLYN NY 11210
ML666 10266121927 RICE JAMES 31 KASSUL PLACE SOMERSET NJ 08873
ML666 10266121994 VASQUEZ RAFAEL G 55 57 MAY STREET HARTFORD CT 06105
ML666 10266122017 DALEY JAMES 439 S 2ND STREET LYKENS PA 17048
ML666 10266122022 GRIER JOHN D 1983 QUEENS WAY CHAMBLEE GA 30341
ML666 10266122026 SEGARRA EDGAR 105 NIGHTINGALE ROAD BLAIRSTOWN NJ 07825
ML666 10266122075 HADDOCK DENNIS 66-45 73RD PLACE MIDDLE VILLAGE NY 11379
ML666 10266122097 HALL DONSFORD H 107 DIX STREET WEST HAVEN CT 06516
ML666 10266122104 HAWKES KENNETH B 248 EAST 975 SOUTH LAYTON UT 84041
ML666 10266122110 ROGERS NADINE 542 EAST 1910 SOUTH OREM UT 84058
ML666 10266122173 GARCIA ROBERT MICHAEL 810 LA CASA DE PRASA DRIVE SE RIO RANCHO NM 87124
ML666 10266122186 WALSH DARLENE 77 MONTGOMERY AVENUE MASTIC NY 11950
ML666 10266122195 STOCCO ROBBYN A 145 CIRCLE DRIVE PALMER LAKE CO 80133
ML666 10266122293 MANN MICHAEL 6120 JEFFERSON STREET HOLLYWOOD FL 33023
ML666 10266122300 SOMMER RANDALL C 3670 NW 104TH AVENUE CORAL SPRINGS FL 33065
ML666 10266122309 SADDLER W MCNEIL 492 OLIVER STREET N.W. ATLANTA GA 30314
ML666 10266122344 MOLITERNO JOHN 27 TYLER STREET FREEPORT NY 11520
ML666 10266122361 MILNE MARK B 9695 NORTH 5750 WEST HIGHLAND UT 84003
ML666 10266122370 PROCTOR CLINT B 549 EAST 1650 SOUTH SPRINGVILLE UT 84663
ML666 10266122406 VALSECHI RALPH 28 HACKBERRY LANE HOLBROOK NY 11741
ML666 10266122410 CZARNECKI JOHN A 1318-1320 CRANE STREET SCHENECTADY NY 12303
ML666 10266122504 RODRIGUEZ JOHNNY 396 WEBSTER AVENUE JERSEY CITY NJ 07307
ML666 10266122620 NORRISH ROBERT E 2890 SW ANGELINE AVENUE GRESHAM OR 97080
ML666 10266122625 MADARANG LUSIA V 11356 SW SUMMERLAKE DRIVE TIGARD OR 97223
ML666 10266122628 ROOT DONALD G 9556 WEST NICHOLS PLACE LITTLETON CO 80123
ML666 10266122646 JIMMERSON LORRAINE 1940 HILLS DRIVE SEDONA AZ 86336
ML666 10266122736 POWELL STEVEN J 4640 - 4660 EVERETT STREET WHEATRIDGE CO 80033
ML666 10266122772 MILLER SCOTT L 15610 NE BLUE GRASS DRIVE VANCOUVER WA 98684
ML666 10266122800 FARMER GEORGE C 808 7TH STREET NORTH SAINT PETERSBURG FL 33701
ML666 10266122823 JOHNSON JOEL 49 SHONNARD AVENUE FREEPORT NY 11520
ML666 10266122867 TOMASEVICH DIANE S 570 KINGS HIGHWAY E. GREENWICH TWP. NJ 08056
ML666 10266122910 RHODES WILLIAM E 7719 AVONDALE TERRACE HARRISBURG PA 17112
ML666 10266122911 WILSON ALBERT 7226 RYAN STREET FAYETTEVILLE NC 28314
ML666 10266122921 CARLSON RONALD GENE 6980 NEWPORT STREET COMMERCE CITY CO 80022
ML666 10266122943 ZUREK GLORIA 104 WEST DRIVE NORTH MASSAPEQUA NY 11758
ML666 10266123032 OGDEN RAYMOND B 19133 HEMPSTONE AVENUE POOLESVILLE MD 20837
ML666 10266123035 KEYES KENDALL 31 GULFVIEW COURT MILFORD CT 06460
ML666 10266123046 WOOLFORD LISA C 201 NORTH CAROLINE AVENUE PASADENA MD 21122
ML666 10266123104 GRAHAM CHARLES E 3028 177TH PLACE SOUTHWEST LYNNWOOD WA 98037
ML666 10266123133 SOMMERVILLE THOMAS J 1221 ERIK COURT ALTAMONTE SPRINGS FL 32714
<CAPTION>
Principal Cut-off Date First
Balance at Principal Payment Maturity Rem
Sale ID Account Origination Balance Date Date Term
- ---------------------------------------------------------------------------------------------------------------------
<C> <C> <S> <C> <C> <C> <C>
ML666 10266120454 25,000.00 24,997.84 08/22/96 07/22/11 178.65
ML666 10266120456 78,900.00 78,900.00 08/09/96 07/09/11 178.22
ML666 10266120495 175,500.00 175,500.00 08/10/96 07/10/26 358.26
ML666 10266120648 119,000.00 119,000.00 08/10/96 07/10/26 358.26
ML666 10266120777 33,600.00 33,342.53 07/18/96 06/18/11 177.53
ML666 10266120825 52,000.00 51,943.28 08/08/96 07/08/11 178.19
ML666 10266120881 61,000.00 60,977.96 08/23/96 07/23/11 178.68
ML666 10266120889 16,000.00 16,000.00 08/26/96 07/26/06 118.78
ML666 10266120908 51,000.00 51,000.00 08/12/96 07/12/11 178.32
ML666 10266120909 37,200.00 37,200.00 08/12/96 07/12/11 178.32
ML666 10266120915 56,550.00 56,550.00 08/15/96 07/15/11 178.42
ML666 10266121038 67,200.00 67,176.13 08/23/96 07/23/11 178.68
ML666 10266121060 87,400.00 87,400.00 09/01/96 08/01/11 179.00
ML666 10266121144 18,000.00 17,980.26 09/01/96 08/01/11 179.00
ML666 10266121296 127,500.00 127,500.00 09/01/96 08/01/26 359.00
ML666 10266121404 128,600.00 128,419.70 08/10/96 07/10/11 178.26
ML666 10266121458 79,200.00 79,200.00 08/25/96 07/25/26 358.75
ML666 10266121510 59,500.00 59,275.48 08/01/96 07/01/11 178.00
ML666 10266121619 135,000.00 135,000.00 08/01/96 07/01/11 178.00
ML666 10266121633 220,500.00 220,432.58 07/27/96 06/27/26 357.83
ML666 10266121686 21,900.00 21,900.00 07/24/96 06/24/26 357.73
ML666 10266121758 64,000.00 64,000.00 08/17/96 07/17/16 238.49
ML666 10266121768 75,000.00 75,000.00 09/01/96 08/01/11 179.00
ML666 10266121927 134,215.00 134,215.00 08/16/96 07/16/11 178.45
ML666 10266121994 131,750.00 131,681.35 08/23/96 07/23/26 358.68
ML666 10266122017 28,050.00 28,050.00 08/24/96 07/24/11 178.72
ML666 10266122022 50,200.00 50,200.00 08/02/96 07/02/11 177.99
ML666 10266122026 178,500.00 178,391.63 08/18/96 07/18/11 178.52
ML666 10266122075 33,000.00 33,000.00 09/01/96 08/01/11 179.00
ML666 10266122097 81,000.00 81,000.00 08/12/96 07/12/26 358.32
ML666 10266122104 20,690.00 20,690.00 08/08/96 07/08/11 178.19
ML666 10266122110 15,100.00 15,044.35 08/15/96 07/15/11 178.42
ML666 10266122173 17,350.00 17,350.00 08/08/96 07/08/11 178.19
ML666 10266122186 72,000.00 72,000.00 08/10/96 07/10/11 178.26
ML666 10266122195 29,314.00 29,279.97 08/26/96 07/26/11 178.78
ML666 10266122293 11,700.00 11,696.96 07/10/96 06/10/11 177.27
ML666 10266122300 24,200.00 24,097.15 08/15/96 07/15/11 178.42
ML666 10266122309 36,750.00 36,750.00 08/26/96 07/26/11 178.78
ML666 10266122344 136,000.00 136,000.00 07/28/96 06/28/11 177.86
ML666 10266122361 172,000.00 171,757.77 08/11/96 07/11/11 178.29
ML666 10266122370 13,000.00 12,975.76 08/03/96 07/03/11 178.03
ML666 10266122406 53,000.00 52,836.47 08/17/96 07/17/11 178.49
ML666 10266122410 22,595.00 22,545.19 08/16/96 07/16/11 178.45
ML666 10266122504 76,500.00 76,452.09 06/22/96 05/22/26 356.65
ML666 10266122620 22,500.00 22,450.40 08/01/96 07/01/11 178.00
ML666 10266122625 60,520.00 60,474.03 08/22/96 07/22/11 178.65
ML666 10266122628 24,200.00 24,200.00 08/26/96 07/26/11 178.78
ML666 10266122646 64,614.00 64,614.00 08/10/96 07/10/16 238.26
ML666 10266122736 114,000.00 114,000.00 08/23/96 07/23/26 358.68
ML666 10266122772 141,950.00 141,950.00 08/16/96 07/16/11 178.45
ML666 10266122800 53,500.00 53,500.00 08/19/96 07/19/26 358.55
ML666 10266122823 55,000.00 54,950.38 08/22/96 07/22/16 238.65
ML666 10266122867 116,000.00 116,000.00 08/10/96 07/10/11 178.26
ML666 10266122910 25,500.00 25,493.05 08/19/96 07/19/11 178.55
ML666 10266122911 33,100.00 32,931.76 08/23/96 07/23/06 118.68
ML666 10266122921 39,730.00 39,553.63 08/24/96 07/24/11 178.72
ML666 10266122943 70,000.00 69,890.79 08/23/96 07/23/16 238.68
ML666 10266123032 35,655.00 35,655.00 09/01/96 08/01/11 179.00
ML666 10266123035 26,000.00 25,876.12 08/22/96 07/22/06 118.65
ML666 10266123046 25,350.00 25,346.32 08/24/96 07/24/16 238.72
ML666 10266123104 17,200.00 17,200.00 08/09/96 07/09/11 178.22
ML666 10266123133 116,000.00 116,000.00 08/05/96 07/05/26 358.09
<CAPTION>
Original Current Scheduled
Date LTV Mortgage Payment
Sale ID Account Due Ratio Rate Int & Prin
- ---------------------------------------------------------------------------------------------
ML666 10266120454 09/22/96 82.9 12.200 261.01
ML666 10266120456 09/09/96 87.8 12.200 823.74
ML666 10266120495 09/10/96 90.0 10.900 1,658.08
ML666 10266120648 09/10/96 83.2 12.200 1,242.40
ML666 10266120777 09/18/96 84.7 12.700 418.51
ML666 10266120825 09/08/96 83.8 10.900 491.28
ML666 10266120881 09/23/96 51.9 9.350 506.26
ML666 10266120889 08/26/96 77.8 11.200 222.22
ML666 10266120908 08/12/96 60.0 11.700 512.85
ML666 10266120909 08/12/96 60.0 11.700 374.08
ML666 10266120915 09/15/96 65.0 10.950 536.40
ML666 10266121038 09/23/96 80.0 12.450 826.07
ML666 10266121060 09/01/96 89.9 11.650 875.53
ML666 10266121144 10/01/96 74.8 13.750 236.70
ML666 10266121296 09/01/96 85.0 11.500 1,262.62
ML666 10266121404 09/10/96 84.9 9.650 1,095.44
ML666 10266121458 09/25/96 90.0 10.900 748.26
ML666 10266121510 10/01/96 84.9 13.500 681.52
ML666 10266121619 09/01/96 56.2 13.250 1,519.79
ML666 10266121633 09/27/96 90.0 11.700 2,217.30
ML666 10266121686 08/24/96 53.2 12.490 233.56
ML666 10266121758 09/17/96 89.8 11.400 678.11
ML666 10266121768 10/01/96 69.7 11.850 762.81
ML666 10266121927 09/16/96 85.0 12.000 1,380.55
ML666 10266121994 09/23/96 85.0 10.450 1,200.25
ML666 10266122017 09/24/96 85.0 11.750 283.14
ML666 10266122022 09/02/96 80.2 12.000 516.36
ML666 10266122026 09/18/96 72.8 10.750 2,000.89
ML666 10266122075 09/01/96 89.1 12.000 396.06
ML666 10266122097 09/12/96 90.0 11.500 802.14
ML666 10266122104 09/08/96 79.9 15.590 271.40
ML666 10266122110 09/15/96 87.5 12.900 165.86
ML666 10266122173 09/08/96 84.9 12.990 191.79
ML666 10266122186 09/10/96 80.0 10.250 645.19
ML666 10266122195 09/26/96 86.6 12.000 351.82
ML666 10266122293 09/10/96 85.0 11.250 113.64
ML666 10266122300 09/15/96 84.0 12.750 302.22
ML666 10266122309 09/26/96 70.0 9.750 315.74
ML666 10266122344 08/28/96 85.0 12.600 1,685.09
ML666 10266122361 09/11/96 78.1 11.950 1,762.60
ML666 10266122370 10/03/96 89.3 12.900 142.79
ML666 10266122406 09/17/96 89.9 11.250 514.77
ML666 10266122410 09/16/96 89.9 11.650 266.11
ML666 10266122504 09/22/96 90.0 11.400 751.74
ML666 10266122620 09/01/96 89.9 11.650 264.99
ML666 10266122625 09/22/96 84.9 11.750 610.89
ML666 10266122628 08/26/96 84.9 12.500 298.27
ML666 10266122646 09/10/96 34.9 10.990 666.50
ML666 10266122736 09/23/96 79.7 13.750 1,328.23
ML666 10266122772 09/16/96 85.0 13.450 1,620.33
ML666 10266122800 09/19/96 60.1 10.250 479.41
ML666 10266122823 09/22/96 45.8 11.500 586.54
ML666 10266122867 09/10/96 80.0 13.490 1,327.77
ML666 10266122910 09/19/96 83.4 12.750 318.45
ML666 10266122911 09/23/96 71.7 9.700 431.94
ML666 10266122921 09/24/96 80.0 11.490 463.87
ML666 10266122943 09/23/96 32.5 9.250 641.11
ML666 10266123032 09/01/96 90.0 12.000 427.92
ML666 10266123035 09/22/96 82.2 10.900 356.68
ML666 10266123046 09/24/96 80.0 11.490 270.17
ML666 10266123104 08/09/96 90.0 11.500 200.93
ML666 10266123133 09/05/96 79.4 11.750 1,170.92
</TABLE>
<PAGE>
Alliance Funding Company Page 15 9/16/96
A division of Superior Bank FSB
Sale Schedule
1996-3 Class 1 - Initial Pool of Fixed Rate Mortgages - Settlement 9/23/96
<TABLE>
<CAPTION>
Zip
Sale ID Account Name Address City State Code
- -----------------------------------------------------------------------------------------------------------------------------
<C> <C> <S> <C> <C> <C> <C>
ML666 10266123153 WIELAND IOLA M 2302 MCGREGOR COURT VIENNA VA 22182
ML666 10266123208 KANG TEA UK 750 REECEVILLE ROAD COATESVILLE PA 19320
ML666 10266123212 TUCHOL MARY ANN 6475 2ND AVENUE N ST PETERSBURG FL 33710
ML666 10266123225 KLATT PAUL D 1245 EMERSON STREET DENVER CO 80218
ML666 10266123226 EARLY ROLAND 915 HIGHLAND AVENUE DUNEDIN FL 34698
ML666 10266123294 TUCHOL MARYANN FREY 2884 OAKLAWN AVENUE LARGO FL 34641
ML666 10266123338 RICHARDS JOHN A 1380 MURPHY LANE NW ALBANY OR 97321
ML666 10266123374 SEEPERSAUD GEEWAN 91-03 76TH STREET WOODHAVEN NY 11421
ML666 10266123383 PAVONE RALPH JR 123 N FULTON STREET WILKES-BARRE PA 18702
ML666 10266123412 BRUCE DOUGLAS P 1739 ASCOT ROAD COLORADO SPRINGS CO 80906
ML666 10266123461 MCGUIRE KRISTINA M 56 MEAD LANE WESTBURY NY 11590
ML666 10266123464 PESEK CAROL L 14 SEIFERT AVENUE MILLER PLACE NY 11764
ML666 10266123520 MARTINEZ BARBARA T 4731 KEITH CIRCLE COLORADO SPRINGS CO 80916
ML666 10266123576 SHIPPEE HAROLD E JR 39 MILL SPRING LANE STAMFORD CT 06903
ML666 10266123617 WEHNES KAREN J 6731 FREDRICK DR COLORADO SPRINGS CO 80918
ML666 10266123631 MORAGLIA-SMITH PATRICIA 105 WEST GOLDEN AVENUE CRIPPLE CREEK CO 80813
ML666 10266123635 SUTTON SHERI H 1111 NORTH 22ND STREET JACKSONVILLE BEACH FL 32250
ML666 10266123652 GREEN COLLEEN 3821 BARBARA WAY SALT LAKE CITY UT 84124
ML666 10266123682 DESMOND RAYMOND B JR 66 NORTON DRIVE EAST NORTHPORT NY 11731
ML666 10266123690 BENCI ZLATKO 3 FLORGATE ROAD FARMINGDALE NY 11735
ML666 10266123760 PAVAO DAVID DEAN 1447 EAST SUNNYSIDE STREET HIGHLANDS RANCH CO 80126
ML666 10266123930 MACHESIC LEONARD F RR1 BOX 743 PAXINOS PA 17860
ML666 10266123935 BUSH RONALD J 394 GRAPE STREET WARMINSTER PA 18974
ML666 10266123950 GOODMAN CHESTER W 6263 WEST 70TH AVENUE ARVADA CO 80003
ML666 10266123974 LOMBARDO ANTONINO 1420 BELLEVUE LANE SOUDERTON PA 18964
ML666 10266124015 CROWLEY-DINICOLA NANCY L 327 CONCORD ROAD GLEN MILLS PA 19342
ML666 10266124074 BLACK CURTIS 1052 EAST 825 NORTH LAYTON UT 84040
ML666 10266124169 MEW PATRICIA 590 NORMANDY ROAD MADEIRA BEACH FL 33708
ML666 10266124222 CIALELLA DARLENE 525 PINE STREET NEPTUNE BEACH FL 32266
ML666 10266124228 HELINGER MICHAEL A 13179 72ND AVENUE N SEMINOLE FL 34646
ML666 10266124329 EWING PAUL R 106 JUDSON ROAD LA PORTE IN 46350
ML666 10266124364 OKO JERRY 1 GALLEINE AVENUE COMMACK NY 11725
ML666 10266124371 DIGIOSE JOHN 2158 WALTOFFER AVENUE N. BELLMORE NY 11710
ML666 10266124418 MARTIN RICHARD P 923 1ST AVE NW LARGO FL 34640
ML666 10266124508 CROWELL DAVID P 12825 ANGEL OAK DRIVE HUNTERSVILLE NC 28078
ML666 10266124510 BAUCOM AMY J 2527 JUNIPER DRIVE CHARLOTTE NC 28269
ML666 10266124512 MURPHY THOMAS J 2247 WEST GENESSEE ROAD BALDWINSVILLE NY 13027
ML666 10266124546 KEPNER GARY 944 VALLEY VIEW CIRCLE PALM HARBOR FL 34684
ML666 10266124548 ANDERSON BETTY JO 11725 TIMBERLANE COURT COLORADO SPRINGS CO 80908
ML666 10266124586 GARDING JAMES P 9545 SW BUCKSKIN TERRACE BEAVERTON OR 97008
ML666 10266124598 AMATO JOYCE 396 WOODBURY ROAD WOODBURY NY 11797
ML666 10266124628 CRANDALL BRET A 775 WEST 1600 NORTH MAPLETON UT 84664
ML666 10266124756 BETTA JAMES 744 BAY 7TH STREET WEST ISLIP NY 11795
ML666 10266124786 COLLINS ROLAND J 4157 HIGHLAND LOOP NEW PORT RICHEY FL 34652
ML666 10266124788 SANCHEZ GUSTAVO J 7241 AUBURN LANE NEW PORT RICHEY FL 34654
ML666 10266124794 REMICH ROBERT ALLEN 4003 COLONIAL DRIVE LILBURN GA 30247
ML666 10266124866 PRUITT WILLIAM C 1715 MILL HILL ROAD WATKINS GLEN NY 14891
ML666 10266124889 ZEGER ERIC G 2415 NORTH JERUSALEM ROAD EAST MEADOW NY 11554
ML666 10266124958 AARON WEBSTER 154 WOODRUFF AVENUE BROOKLYN NY 11226
ML666 10266124959 MONATH FREDERICK B 67 PINE TRAIL DELTA PA 17314
ML666 10266124966 DAULERIO MICHAEL F 1213 FOREST HILL DRIVE GWYNEDD VALLEY PA 19437
ML666 10266124971 MAZZIE BERTHA P 137 MAUCH CHUNK STREET NAZARETH PA 18064
ML666 10266125034 MOORE DAN O 3858 ORCHARD AVENUE SOUTH OGDEN UT 84403
ML666 10266125041 BAGLEY STEVE K 7924 SOUTH PONDEROSA CIRCLE SANDY UT 84094
ML666 10266125056 STASSINOPOULOS EVANGELIA 1987 MADRID COURT S CLEARWATER FL 34623
ML666 10266125170 SPENCE CAROLYN 2325 BRYANT AVENUE BALTIMORE MD 21217
ML666 10266125276 LEONARD MATTHEW 991 NORTH CIRCLE DRIVE DOVER PA 17315
ML666 10266125297 SCHMIDT ROBERT L 1 HIGH POINT DRIVE GLEN RIDDLE PA 19037
ML666 10266125348 LYTLE FREDERICK 918 NORTH 66TH STREET PHILADELPHIA PA 19151
ML666 10266125439 HANIFFY IRIS M 6012 PITNER DRIVE HOLIDAY FL 34690
ML666 10266125459 CAJKAS ERNE 2191 SW 27TH LANE FORT LAUDERDALE FL 33312
ML666 10266125483 DAGOSTINO RICHARD 53 GRACE DRIVE OLD BRIDGE NJ 08857
<CAPTION>
Principal Cut-off Date First
Balance at Principal Payment Maturity Rem
Sale ID Account Origination Balance Date Date Term
- ---------------------------------------------------------------------------------------------------------------------
<C> <C> <S> <C> <C> <C> <C>
ML666 10266123153 45,000.00 45,000.00 08/03/96 07/03/11 178.03
ML666 10266123208 12,900.00 12,900.00 09/01/96 08/01/11 179.00
ML666 10266123212 29,000.00 28,935.12 09/01/96 08/01/11 179.00
ML666 10266123225 72,600.00 72,600.00 08/26/96 07/26/11 178.78
ML666 10266123226 58,100.00 58,100.00 08/11/96 07/11/11 178.29
ML666 10266123294 52,500.00 52,264.43 09/01/96 08/01/11 179.00
ML666 10266123338 47,125.00 47,088.69 08/22/96 07/22/11 178.65
ML666 10266123374 41,250.00 41,250.00 08/19/96 07/19/11 178.55
ML666 10266123383 50,000.00 49,972.50 09/01/96 08/01/16 239.00
ML666 10266123412 24,417.00 24,417.00 09/01/96 08/01/16 239.00
ML666 10266123461 41,400.00 41,350.88 08/23/96 07/23/16 238.68
ML666 10266123464 70,000.00 69,819.15 08/24/96 07/24/11 178.72
ML666 10266123520 23,600.00 23,600.00 08/23/96 07/23/16 238.68
ML666 10266123576 31,500.00 31,500.00 08/22/96 07/22/11 178.65
ML666 10266123617 31,000.00 30,969.70 08/24/96 07/24/11 178.72
ML666 10266123631 25,900.00 25,900.00 09/01/96 08/01/11 179.00
ML666 10266123635 10,700.00 10,672.36 08/23/96 07/23/06 118.68
ML666 10266123652 110,000.00 109,880.64 08/19/96 07/19/11 178.55
ML666 10266123682 45,000.00 44,886.00 08/23/96 07/23/11 178.68
ML666 10266123690 45,000.00 44,793.85 08/24/96 07/24/11 178.72
ML666 10266123760 26,280.00 26,280.00 09/01/96 08/01/11 179.00
ML666 10266123930 41,700.00 41,585.08 09/01/96 08/01/11 179.00
ML666 10266123935 33,000.00 32,942.76 09/01/96 08/01/11 179.00
ML666 10266123950 30,500.00 30,500.00 08/22/96 07/22/16 238.65
ML666 10266123974 184,232.00 183,805.51 08/16/96 07/16/11 178.45
ML666 10266124015 16,000.00 16,000.00 09/01/96 08/01/11 179.00
ML666 10266124074 47,000.00 47,000.00 09/01/96 08/01/11 179.00
ML666 10266124169 30,000.00 30,000.00 08/23/96 07/23/16 238.68
ML666 10266124222 10,000.00 10,000.00 09/01/96 08/01/11 179.00
ML666 10266124228 168,000.00 168,000.00 08/24/96 07/24/26 358.72
ML666 10266124329 54,700.00 54,688.01 08/25/96 07/25/16 238.75
ML666 10266124364 36,000.00 36,000.00 09/01/96 08/01/11 179.00
ML666 10266124371 69,721.00 69,707.67 08/22/96 07/22/11 178.65
ML666 10266124418 17,650.00 17,628.01 09/01/96 08/01/11 179.00
ML666 10266124508 10,700.00 10,700.00 09/01/96 08/01/06 119.00
ML666 10266124510 13,000.00 13,000.00 09/01/96 08/01/06 119.00
ML666 10266124512 40,600.00 40,565.90 08/24/96 07/24/11 178.72
ML666 10266124546 114,400.00 114,342.29 08/15/96 07/15/26 358.42
ML666 10266124548 46,500.00 46,500.00 09/01/96 08/01/11 179.00
ML666 10266124586 29,431.00 29,431.00 08/26/96 07/26/11 178.78
ML666 10266124598 100,000.00 100,000.00 08/24/96 07/24/11 178.72
ML666 10266124628 51,800.00 51,800.00 08/22/96 07/22/11 178.65
ML666 10266124756 225,000.00 225,000.00 08/19/96 07/19/26 358.55
ML666 10266124786 49,950.00 49,950.00 08/26/96 07/26/26 358.78
ML666 10266124788 32,000.00 31,866.74 08/26/96 07/26/11 178.78
ML666 10266124794 100,000.00 100,000.00 08/16/96 07/16/11 178.45
ML666 10266124866 50,000.00 49,900.78 08/19/96 07/19/16 238.55
ML666 10266124889 45,000.00 45,000.00 09/01/96 08/01/16 239.00
ML666 10266124958 180,000.00 180,000.00 09/01/96 08/01/11 179.00
ML666 10266124959 21,500.00 21,439.74 09/01/96 08/01/11 179.00
ML666 10266124966 222,500.00 222,500.00 08/26/96 07/26/11 178.78
ML666 10266124971 63,000.00 63,000.00 09/01/96 08/01/11 179.00
ML666 10266125034 29,400.00 29,397.84 08/10/96 07/10/11 178.26
ML666 10266125041 36,931.00 36,801.42 08/10/96 07/10/11 178.26
ML666 10266125056 14,500.00 14,500.00 09/01/96 08/01/11 179.00
ML666 10266125170 54,200.00 54,200.00 09/01/96 08/01/11 179.00
ML666 10266125276 56,000.00 55,009.17 09/01/96 08/01/11 179.00
ML666 10266125297 23,158.00 23,158.00 08/24/96 07/24/11 178.72
ML666 10266125348 51,300.00 51,300.00 08/22/96 07/22/11 178.65
ML666 10266125439 10,800.00 10,769.04 08/26/96 07/26/11 178.78
ML666 10266125459 35,000.00 34,927.17 07/14/96 06/14/11 177.40
ML666 10266125483 153,000.00 153,000.00 09/01/96 08/01/11 179.00
<CAPTION>
Original Current Scheduled
Date LTV Mortgage Payment
Sale ID Account Due Ratio Rate Int & Prin
- ---------------------------------------------------------------------------------------------
ML666 10266123153 09/03/96 79.7 12.450 478.52
ML666 10266123208 09/01/96 78.7 11.250 148.65
ML666 10266123212 10/01/96 88.8 11.500 287.18
ML666 10266123225 08/26/96 76.2 13.750 845.87
ML666 10266123226 09/11/96 68.3 10.990 552.86
ML666 10266123294 10/01/96 70.0 9.750 451.06
ML666 10266123338 09/22/96 89.9 11.500 466.67
ML666 10266123374 08/19/96 70.9 11.350 477.95
ML666 10266123383 10/01/96 80.0 10.250 490.82
ML666 10266123412 09/01/96 79.7 13.750 299.21
ML666 10266123461 09/23/96 89.8 11.700 447.22
ML666 10266123464 09/24/96 57.3 9.750 741.55
ML666 10266123520 09/23/96 79.9 13.250 280.71
ML666 10266123576 09/22/96 61.9 12.450 387.22
ML666 10266123617 09/24/96 85.2 11.500 362.14
ML666 10266123631 09/01/96 79.9 13.500 336.26
ML666 10266123635 09/23/96 83.8 12.750 158.19
ML666 10266123652 09/19/96 40.7 10.990 1,046.72
ML666 10266123682 09/23/96 79.8 9.990 483.30
ML666 10266123690 09/24/96 84.3 11.450 524.26
ML666 10266123760 09/01/96 89.9 12.000 315.40
ML666 10266123930 10/01/96 85.0 10.250 454.51
ML666 10266123935 10/01/96 54.0 10.990 374.87
ML666 10266123950 09/22/96 79.7 13.250 362.78
ML666 10266123974 09/16/96 80.0 9.750 1,582.84
ML666 10266124015 09/01/96 29.0 10.990 181.76
ML666 10266124074 09/01/96 65.2 12.750 510.75
ML666 10266124169 08/23/96 49.0 11.750 325.11
ML666 10266124222 09/01/96 74.3 13.150 127.51
ML666 10266124228 09/24/96 80.0 10.990 1,598.63
ML666 10266124329 09/25/96 82.0 11.750 592.79
ML666 10266124364 09/01/96 84.9 12.200 375.85
ML666 10266124371 09/22/96 85.0 12.990 881.68
ML666 10266124418 10/01/96 89.9 11.700 208.44
ML666 10266124508 09/01/96 90.0 12.000 153.51
ML666 10266124510 09/01/96 89.6 11.990 186.44
ML666 10266124512 09/24/96 89.7 11.950 485.96
ML666 10266124546 09/15/96 80.0 10.700 1,063.61
ML666 10266124548 09/01/96 36.7 11.490 542.91
ML666 10266124586 08/26/96 90.0 12.000 302.73
ML666 10266124598 09/24/96 60.6 11.240 970.50
ML666 10266124628 09/22/96 90.0 11.500 512.97
ML666 10266124756 08/19/96 90.0 11.200 2,176.80
ML666 10266124786 08/26/96 83.2 11.550 496.56
ML666 10266124788 09/26/96 80.8 10.250 348.78
ML666 10266124794 09/16/96 51.0 12.990 1,105.42
ML666 10266124866 09/19/96 61.7 9.950 480.86
ML666 10266124889 09/01/96 71.0 11.550 481.44
ML666 10266124958 09/01/96 80.0 10.300 1,619.68
ML666 10266124959 10/01/96 89.2 12.000 258.04
ML666 10266124966 09/26/96 74.7 11.490 2,201.70
ML666 10266124971 09/01/96 70.0 10.990 599.49
ML666 10266125034 09/10/96 83.8 12.350 359.50
ML666 10266125041 09/10/96 87.5 12.600 457.59
ML666 10266125056 09/01/96 79.9 13.250 185.85
ML666 10266125170 09/01/96 78.5 9.950 473.64
ML666 10266125276 11/01/96 52.8 11.750 565.27
ML666 10266125297 08/24/96 85.0 12.250 281.67
ML666 10266125348 09/22/96 90.0 11.500 508.02
ML666 10266125439 09/26/96 89.9 11.500 126.16
ML666 10266125459 09/14/96 79.5 11.590 410.87
ML666 10266125483 09/01/96 85.0 10.990 1,455.90
</TABLE>
<PAGE>
Alliance Funding Company Page 16 9/16/96
A division of Superior Bank FSB
Sale Schedule
1996-3 Class 1 - Initial Pool of Fixed Rate Mortgages - Settlement 9/23/96
<TABLE>
<CAPTION>
Zip
Sale ID Account Name Address City State Code
- -----------------------------------------------------------------------------------------------------------------------------
<C> <C> <S> <C> <C> <C> <C>
ML666 10266125491 TALBOT RONALD J 6864 SOUTH KIESTA COURT WEST JORDAN UT 84084
ML666 10266125493 CAMPBELL KEVIN W 2658 WEST NORTH PLAIN CITY RD FARR WEST UT 84404
ML666 10266125917 MILLER TITUS W 1310 PELHAM ROAD HARRISBURG PA 17110
ML666 10266125919 MILLER TITUS W 820 E MAIN STREET HEGINS PA 17938
ML666 10266126017 LEMOINE JODIE S 6501 WEST 3940 SOUTH WEST VALLEY CITY UT 84120
ML666 10266126018 TAPIA ABRAHAM VEGA 2085 EAST GREENWICH CIRCLE SANDY UT 84093
ML666 10266126121 PHILLIP CYNTHIA 2418 CLARKSON STREET DENVER CO 80205
ML666 10266126182 GAZE JOSEF R 4736 WEST 34TH AVENUE DENVER CO 80212
ML666 10266126375 GARNEAU GARY 1740 EAST 112TH PLACE NORTHGLENN CO 80233
ML666 10266126441 BROWN SARA LYNN 1166 NW 67TH STREET MIAMI FL 33150
ML666 10266126443 BEIERLE DENNIS A 101 NORTH 49TH AVENUE GREELEY CO 80634
-------------------------------------------
197 Sale Total
<CAPTION>
Principal Cut-off Date First
Balance at Principal Payment Maturity Rem
Sale ID Account Origination Balance Date Date Term
- ---------------------------------------------------------------------------------------------------------------------
<C> <C> <S> <C> <C> <C> <C>
ML666 10266125491 49,000.00 49,000.00 08/16/96 07/16/11 178.45
ML666 10266125493 34,547.00 34,547.00 08/15/96 07/15/11 178.42
ML666 10266125917 63,875.00 63,875.00 08/26/96 07/26/11 178.78
ML666 10266125919 68,000.00 68,000.00 08/26/96 07/26/16 238.78
ML666 10266126017 29,690.00 29,647.21 08/17/96 07/17/16 238.49
ML666 10266126018 56,000.00 55,995.31 08/17/96 07/17/11 178.49
ML666 10266126121 16,500.00 16,454.83 08/26/96 07/26/11 178.78
ML666 10266126182 45,000.00 44,927.72 09/01/96 08/01/11 179.00
ML666 10266126375 92,700.00 92,700.00 09/01/96 08/01/26 359.00
ML666 10266126441 35,750.00 35,745.82 07/12/96 06/12/11 177.34
ML666 10266126443 16,500.00 16,500.00 09/01/96 08/01/11 179.00
--------------------------------------------------------- -------------
197 12,098,947.00 12,085,413.19 227.26
<CAPTION>
Original Current Scheduled
Date LTV Mortgage Payment
Sale ID Account Due Ratio Rate Int & Prin
- ---------------------------------------------------------------------------------------------
ML666 10266125491 09/16/96 87.3 12.200 594.40
ML666 10266125493 08/15/96 79.9 15.350 491.82
ML666 10266125917 08/26/96 70.0 10.500 706.07
ML666 10266125919 08/26/96 80.0 10.500 678.90
ML666 10266126017 09/17/96 88.9 12.450 336.27
ML666 10266126018 09/17/96 79.0 11.350 648.86
ML666 10266126121 09/26/96 69.2 12.500 203.37
ML666 10266126182 10/01/96 68.4 11.490 525.40
ML666 10266126375 09/01/96 90.0 11.750 935.72
ML666 10266126441 09/12/96 65.0 15.900 477.87
ML666 10266126443 09/01/96 80.4 11.000 187.54
------------------ -------------------------------------------
197 77.4 11.505 126,261.64
</TABLE>
<PAGE>
Alliance Funding Company Page 17 9/16/96
A division of Superior Bank FSB
Sale Schedule
1996-3 Class 1 - Initial Pool of Fixed Rate Mortgages - Settlement 9/23/96
<TABLE>
<CAPTION>
Zip
Sale ID Account Name Address City State Code
- -----------------------------------------------------------------------------------------------------------------------------
<C> <C> <S> <C> <C> <C> <C>
ML667 10266112387 LASTELLA VINCENT 16 WAYSIDE LANE NUTLEY NJ 07110
ML667 10266113141 WARRIOR MICHAEL 147 EAST 124TH ST CHICAGO IL 60628
ML667 10266113585 FISCHER EDWARD M 46 CLEVELAND AVENUE FREDONIA NY 14063
ML667 10266113594 HURLEY HAROLD L 14200 N LAGO DEL ORO PARKWAY TUCSON AZ 85737
ML667 10266113935 GEARY DANNY RAY 393 WEST 2400 SOUTH CLEARFIELD UT 84015
ML667 10266113965 MARINO PATRICIA R 244 BALTUSROL DRIVE NAPLES FL 33962
ML667 10266114329 NEBLETT VERNELL 90 STEVENS AVENUE ROOSEVELT NY 11575
ML667 10266114457 GIGUERE PAUL V 5108 NATHALEE DRIVE CONCORD CA 94521
ML667 10266114520 DANGELO BERNARD 31 COLONY ROAD PORT JEFFERSON STATI NY 11776
ML667 10266114627 CIACCIO ROBERT 12 LINCOLN AVENUE COMMACK NY 11725
ML667 10266115233 CASTILLO JOSE 107 N 8TH ST YAKIMA WA 98901
ML667 10266115357 GILLIAN JAY A 142 ROOSEVELT BOULEVARD OCEAN CITY NJ 08226
ML667 10266115496 SMITH CHARLESETTA 331 FILMORE STREET GARY IN 46404
ML667 10266115569 BURNS MICHAEL L 13605 SOUTHWEST GARRETT COURT TIGARD OR 97223
ML667 10266115648 HERBERT GWENDOLYN T 347 FLORIDA STREET BUFFALO NY 14208
ML667 10266115853 EDWARDS MARCUS L 22 ORCHARD STREET VERNON CT 06066
ML667 10266115882 GLOCKNER KENNETH 209 60TH STREET WEST NEW YORK NJ 07093
ML667 10266117803 ARWOOD TERRY 111 JULIANNE DR MANHATTAN IL 60442
ML667 10266117902 CANTERBURY RUSSELL A 6550 WALDON CLARKSTON MI 48346
ML667 10266118092 KANHAI KAMINI 41-60 75TH STREET ELMHURST NY 11373
ML667 10266118110 DEMARZO GARY 503 W BURK AVE WILDWOOD NJ 08260
ML667 10266118230 BOOTH DENISE M 3651 S PRUDENCE ROAD TUCSON AZ 85730
ML667 10266118456 ALLEN JACK D 2801 C ROAD GRAND JUNCTION CO 81503
ML667 10266118556 MORRIS ELIZABETH 12 BRYSON AVENUE STATEN ISLAND NY 10302
ML667 10266118642 SCHUMACHER PAUL E III 257 WAKELEE AVENUE ANSONIA CT 06401
ML667 10266118713 MCARDLE PAUL F JR 7562 EAST WINDROSE DRIVE SCOTTSDALE AZ 85260
ML667 10266119048 GRAYL ALLAN 6179 8TH AVENUE NORTH SAINT PETERSBURG FL 33710
ML667 10266119086 EPPERSON JAMES R 3532 W FALLING STAR LANE TUCSON AZ 85741
ML667 10266119121 LACEY THOMAS F 15 OLD STAGECOACH ROAD GAYLORDSVILLE CT 06755
ML667 10266119176 HILDEBRAND MARK J 8412 EAST "E" STREET TACOMA WA 98445
ML667 10266119337 HALL RUDOLPH A 138-140 ADAMS STREET HARTFORD CT 06112
ML667 10266119370 EWING ALLEN 1726 VERBEKE STREET HARRISBURG PA 17103
ML667 10266119393 MASSARI JAMES C 274A MOFFAT ROAD COLD SPRING NY 10516
ML667 10266119400 FULLER MARC 11125 AYER ROAD COLORADO SPRINGS CO 80908
ML667 10266119471 KHAN KHALID Y 2847 SPITZ STREET LAS CRUCES NM 88005
ML667 10266119624 KELLY PAUL RHEAD 1596 EAST GENTILE STREET LAYTON UT 84040
ML667 10266119697 WILLIAMSON CURTIS TODD 2894 MEADOW VIEW AVENUE LARGO FL 34641
ML667 10266119854 CENTRACCHIO GENNARINA 643 MARINE DRIVE WAUCONDA IL 60084
ML667 10266119929 PHAGOO DEONARAINE 54 JEFFERSON AVENUE JERSEY CITY NJ 07306
ML667 10266119989 PIAZZA JOHN J 338 TALL MEADOW LANE YARDLEY PA 19067
ML667 10266120163 BRANNICK DONALD 11 PEG LEG WAY OCEAN TOWNSHIP NJ 08758
ML667 10266120203 DARMER STEPHEN R 22016 N 89TH AVENUE PEORIA AZ 85382
ML667 10266120232 BAKER WILLIAM RAY 257 WEST 500 NORTH SALT LAKE CITY UT 84103
ML667 10266120267 WILLIS VICTORIA 10233 S. CALUMET AVE. CHICAGO IL 60628
ML667 10266120304 SUARINO SALVATORE 83 WEST AVENUE WEST SAYVILLE NY 11796
ML667 10266120346 SCAPPATORE RICHARD 5 JAMIE STREET RIDGE NY 11961
ML667 10266120368 ABDUR-RAHMAN HASSAN 553 E ROCKWOOD DRIVE PHOENIX AZ 85027
ML667 10266120533 BRATSCH GARY L 533 E DEEPDALE ROAD PHOENIX AZ 85022
ML667 10266120538 SILCOCK JAMES B 17 GREENFERN CIRCLE ORMOND BEACH FL 32174
ML667 10266120550 WOOD WILLIAM W 934 SE SHERRETT STREET PORTLAND OR 97202
ML667 10266120571 STOWELL DWIGHT K 32 WARREN STREET HUDSON NY 12534
ML667 10266120576 DUGAN DAVID L 3623 GAP ROAD GOLDEN CO 80403
ML667 10266120726 CASSELL JOHN E JR 12215 JACOBS ROAD HEBRON IL 60034
ML667 10266120740 HUGHES FRANCES 40 EAST 150TH STREET HARVEY IL 60426
ML667 10266120887 HIMMELREICH ROBERT W 143 WANNER ROAD READING PA 19606
ML667 10266120924 KENNEDY RICHARD J 630 SOUTH BERGEN STREET BETHLEHEM PA 18015
ML667 10266121007 DUNKIN DOROTHY SUE 1070 MONTE VISTA DRIVE BOSQUE FARMS NM 87068
ML667 10266121073 MCCANN MICHAEL P 12821 49TH DRIVE SOUTHEAST EVERETT WA 98208
ML667 10266121077 HEMPT MARGERY L 515 HARDING STREET NEW CUMBERLAND PA 17070
ML667 10266121082 SPITZER LISA A 23 TREMONT COURT NEWARK DE 19711
ML667 10266121143 SMITH NICHOLAS M 3905 GAY ROAD EAST TACOMA WA 98443
ML667 10266121199 WILLNER STEVEN 81 GAINSBOROUGH ROAD HOLBROOK NY 11741
<CAPTION>
Principal Cut-off Date First
Balance at Principal Payment Maturity Rem
Sale ID Account Origination Balance Date Date Term
- ---------------------------------------------------------------------------------------------------------------------
<C> <C> <S> <C> <C> <C> <C>
ML667 10266112387 91,000.00 90,765.09 08/15/96 07/15/11 178.42
ML667 10266113141 66,400.00 66,374.68 08/17/96 07/17/26 358.49
ML667 10266113585 60,000.00 60,000.00 08/24/96 07/24/26 358.72
ML667 10266113594 120,500.00 120,238.74 07/25/96 06/25/26 357.76
ML667 10266113935 21,600.00 21,600.00 08/08/96 07/08/11 178.19
ML667 10266113965 46,000.00 46,000.00 09/06/96 08/06/26 359.15
ML667 10266114329 116,000.00 116,000.00 08/08/96 07/08/11 178.19
ML667 10266114457 25,400.00 25,394.25 08/12/96 07/12/11 178.32
ML667 10266114520 115,488.00 115,468.44 08/19/96 07/19/11 178.55
ML667 10266114627 19,200.00 19,136.43 08/23/96 07/23/11 178.68
ML667 10266115233 60,000.00 60,000.00 08/10/96 07/10/11 178.26
ML667 10266115357 88,000.00 88,000.00 08/03/96 07/03/11 178.03
ML667 10266115496 29,400.00 29,375.40 08/22/96 07/22/16 238.65
ML667 10266115569 25,300.00 25,300.00 08/19/96 07/19/11 178.55
ML667 10266115648 53,100.00 53,041.96 08/18/96 07/18/26 358.52
ML667 10266115853 126,000.00 126,000.00 08/03/96 07/03/26 358.03
ML667 10266115882 50,000.00 50,000.00 09/01/96 08/01/11 179.00
ML667 10266117803 32,000.00 31,874.73 07/05/96 06/05/16 237.11
ML667 10266117902 63,000.00 62,910.61 08/24/96 07/24/11 178.72
ML667 10266118092 228,000.00 228,000.00 09/01/96 08/01/11 179.00
ML667 10266118110 55,250.00 55,250.00 07/26/96 06/26/11 177.80
ML667 10266118230 16,500.00 16,500.00 07/24/96 06/24/11 177.73
ML667 10266118456 19,000.00 18,971.49 08/26/96 07/26/11 178.78
ML667 10266118556 55,000.00 55,000.00 09/02/96 08/02/16 239.01
ML667 10266118642 110,500.00 110,500.00 07/20/96 06/20/11 177.60
ML667 10266118713 29,600.00 29,600.00 08/19/96 07/19/11 178.55
ML667 10266119048 67,500.00 67,485.62 09/01/96 08/01/11 179.00
ML667 10266119086 12,500.00 12,500.00 08/17/96 07/17/11 178.49
ML667 10266119121 182,700.00 182,700.00 09/01/96 08/01/11 179.00
ML667 10266119176 19,650.00 19,650.00 09/01/96 08/01/11 179.00
ML667 10266119337 119,700.00 119,262.99 07/19/96 06/19/26 357.57
ML667 10266119370 27,500.00 27,439.62 09/01/96 08/01/11 179.00
ML667 10266119393 52,500.00 52,500.00 08/19/96 07/19/11 178.55
ML667 10266119400 102,700.00 102,700.00 09/01/96 08/01/11 179.00
ML667 10266119471 179,000.00 178,859.40 08/11/96 07/11/26 358.29
ML667 10266119624 82,000.00 81,847.86 08/10/96 07/10/11 178.26
ML667 10266119697 46,750.00 46,750.00 09/05/96 08/05/26 359.11
ML667 10266119854 15,000.00 15,000.00 08/12/96 09/12/11 180.32
ML667 10266119929 80,000.00 80,000.00 09/01/96 08/01/26 359.00
ML667 10266119989 15,000.00 15,000.00 08/15/96 07/15/06 118.42
ML667 10266120163 88,000.00 88,000.00 08/22/96 07/22/11 178.65
ML667 10266120203 28,000.00 28,000.00 08/15/96 07/15/11 178.42
ML667 10266120232 50,700.00 50,700.00 07/25/96 06/25/11 177.76
ML667 10266120267 35,000.00 35,000.00 09/01/96 08/01/11 179.00
ML667 10266120304 178,500.00 178,500.00 08/22/96 07/22/11 178.65
ML667 10266120346 156,000.00 156,000.00 09/05/96 08/05/11 179.11
ML667 10266120368 17,250.00 17,240.78 08/15/96 07/15/11 178.42
ML667 10266120533 16,500.00 16,500.00 08/15/96 07/15/11 178.42
ML667 10266120538 10,200.00 10,200.00 09/01/96 08/01/11 179.00
ML667 10266120550 26,000.00 25,988.96 08/22/96 07/22/11 178.65
ML667 10266120571 126,000.00 125,762.02 07/28/96 06/28/16 237.86
ML667 10266120576 256,500.00 256,500.00 09/01/96 08/01/26 359.00
ML667 10266120726 112,500.00 112,500.00 08/23/96 07/23/26 358.68
ML667 10266120740 20,000.00 20,000.00 08/26/96 07/26/16 238.78
ML667 10266120887 144,300.00 144,300.00 08/09/96 07/09/26 358.22
ML667 10266120924 62,400.00 62,400.00 09/01/96 08/01/11 179.00
ML667 10266121007 140,000.00 140,000.00 08/15/96 07/15/11 178.42
ML667 10266121073 46,300.00 46,211.78 09/01/96 08/01/11 179.00
ML667 10266121077 87,300.00 87,300.00 09/01/96 08/01/11 179.00
ML667 10266121082 25,000.00 24,765.21 07/25/96 06/25/06 117.76
ML667 10266121143 93,500.00 93,500.00 09/01/96 08/01/26 359.00
ML667 10266121199 27,000.00 27,000.00 09/07/96 08/07/11 179.18
<CAPTION>
Original Current Scheduled
Date LTV Mortgage Payment
Sale ID Account Due Ratio Rate Int & Prin
- ---------------------------------------------------------------------------------------------
ML667 10266112387 09/15/96 65.0 13.990 1,211.27
ML667 10266113141 09/17/96 80.0 13.000 734.52
ML667 10266113585 09/24/96 75.9 11.000 571.39
ML667 10266113594 09/25/96 84.8 12.200 1,258.06
ML667 10266113935 09/08/96 78.0 11.000 205.70
ML667 10266113965 09/06/96 79.3 12.750 499.88
ML667 10266114329 09/08/96 80.0 10.700 1,078.48
ML667 10266114457 09/12/96 89.5 12.900 319.70
ML667 10266114520 09/19/96 90.0 11.150 1,112.93
ML667 10266114627 09/23/96 76.8 10.350 210.45
ML667 10266115233 09/10/96 80.0 11.500 594.18
ML667 10266115357 09/03/96 79.8 11.100 844.70
ML667 10266115496 09/22/96 70.0 10.250 288.60
ML667 10266115569 09/19/96 79.9 14.550 310.82
ML667 10266115648 09/18/96 90.0 10.750 495.68
ML667 10266115853 09/03/96 90.0 11.900 1,286.36
ML667 10266115882 09/01/96 36.2 12.790 544.90
ML667 10266117803 09/05/96 74.7 12.490 363.34
ML667 10266117902 09/24/96 65.2 12.250 660.17
ML667 10266118092 09/01/96 80.0 9.500 1,917.15
ML667 10266118110 08/26/96 77.8 12.200 576.83
ML667 10266118230 08/24/96 86.8 11.650 194.33
ML667 10266118456 09/26/96 70.2 10.750 212.98
ML667 10266118556 09/02/96 26.1 10.600 552.81
ML667 10266118642 09/20/96 85.0 10.650 1,023.20
ML667 10266118713 08/19/96 79.7 13.000 327.44
ML667 10266119048 10/01/96 75.0 10.700 627.56
ML667 10266119086 09/17/96 79.8 13.990 166.38
ML667 10266119121 10/01/96 90.0 10.500 1,671.23
ML667 10266119176 09/01/96 89.8 12.150 237.73
ML667 10266119337 09/19/96 90.0 10.750 1,117.38
ML667 10266119370 10/01/96 35.1 13.990 366.04
ML667 10266119393 09/19/96 80.0 13.900 695.64
ML667 10266119400 09/01/96 64.9 11.450 1,013.11
ML667 10266119471 09/11/96 74.9 10.950 1,697.90
ML667 10266119624 09/10/96 84.6 13.700 952.16
ML667 10266119697 09/05/96 85.0 11.750 471.90
ML667 10266119854 08/12/96 73.5 12.490 184.09
ML667 10266119929 09/01/96 69.5 12.400 847.60
ML667 10266119989 08/15/96 89.6 12.600 220.44
ML667 10266120163 08/22/96 80.0 12.450 935.77
ML667 10266120203 08/15/96 85.9 12.600 346.93
ML667 10266120232 08/25/96 65.0 10.950 480.91
ML667 10266120267 09/01/96 41.1 9.740 370.56
ML667 10266120304 09/22/96 85.0 11.500 1,767.67
ML667 10266120346 09/05/96 80.0 9.500 1,311.73
ML667 10266120368 09/15/96 76.3 11.000 196.06
ML667 10266120533 09/15/96 77.7 11.200 189.62
ML667 10266120538 09/01/96 79.3 13.990 135.77
ML667 10266120550 09/22/96 79.9 12.250 316.24
ML667 10266120571 09/28/96 84.0 9.750 1,195.13
ML667 10266120576 09/01/96 86.9 10.650 2,375.12
ML667 10266120726 09/23/96 90.0 10.750 1,050.17
ML667 10266120740 09/26/96 37.1 11.990 220.08
ML667 10266120887 09/09/96 84.8 11.990 1,483.18
ML667 10266120924 09/01/96 80.0 11.990 641.37
ML667 10266121007 09/15/96 80.0 9.900 1,218.27
ML667 10266121073 10/01/96 85.0 12.250 485.18
ML667 10266121077 09/01/96 84.9 10.990 830.72
ML667 10266121082 09/25/96 85.0 11.990 358.53
ML667 10266121143 09/01/96 79.9 10.400 848.30
ML667 10266121199 09/07/96 89.7 11.650 317.99
</TABLE>
<PAGE>
Alliance Funding Company Page 18 9/16/96
A division of Superior Bank FSB
Sale Schedule
1996-3 Class 1 - Initial Pool of Fixed Rate Mortgages - Settlement 9/23/96
<TABLE>
<CAPTION>
Zip
Sale ID Account Name Address City State Code
- -----------------------------------------------------------------------------------------------------------------------------
<C> <C> <S> <C> <C> <C> <C>
ML667 10266121323 SAHEID MOHAMED 103 15 115TH STREET RICHMOND HILL NY 11419
ML667 10266121334 YABLONSKI BENJAMIN 186 SOUTH COUNTRY ROAD REMSENBURG NY 11960
ML667 10266121395 SANTIAGO DONALD 324 EAST PLEASANT GROVE ROAD JACKSON NJ 08527
ML667 10266121573 ANDERSON PATRICK 3554 SE DAREN DR HILLSBORO OR 97123
ML667 10266121605 DAYTON JERRY L 8244 W QUARTO AVE LITTLETON CO 80123
ML667 10266121664 SAKOSKE PAUL D 11289 STAFFORD ROAD CHAGRIN FALLS OH 44023
ML667 10266121796 SANTAMARIA CARLO P 1776 SOUTH 290 EAST OREM UT 84058
ML667 10266121853 HONEYCUTT JUNE B 10995 SPRUCE MOUNTAIN ROAD LARKSPUR CO 80118
ML667 10266121920 FYKSEN STEVE G 2885 JAMAICA STREET SARASOTA FL 34231
ML667 10266121946 ROMERO JOSE 242 AUTUMN AVENUE BROOKLYN NY 11208
ML667 10266121964 WEST DAVID L 13602 SOUTH 1300 EAST DRAPER UT 84020
ML667 10266122006 BRADLEY RANDY 4909 WEST RED LODGE CIRCLE SALT LAKE CITY UT 84118
ML667 10266122021 MADISON LISA KAY 409 W 32ND STREET VANCOUVER WA 98660
ML667 10266122036 BOYD CHARLIE L 168-05 110TH AVENUE JAMAICA NY 11433
ML667 10266122117 KELLY FLORENCE T 2019 MCKINLEY STREET PHILADELPHIA PA 19149
ML667 10266122149 RANEW DEBORAH E 2735 FOXFIRE COURT, BLDG 19 # CLEARWATER FL 34621
ML667 10266122224 WIGGINS LORADELE 7327 S TALMAN CHICAGO IL 60629
ML667 10266122374 HERRERA SHIRLEY 274 COUNTRY CLUB DRIVE STANSBURY PARK UT 84074
ML667 10266122439 BALK JILL A 74 WOOLSEY STREET HUNTINGTON NY 11743
ML667 10266122462 BICKFORD LISA M 4605 216TH ST CT E SPANAWAY WA 98387
ML667 10266122612 ISAACS ROBERT C III 681 BAYARD ROAD LOTHIAN MD 20711
ML667 10266122616 KETTERLING DEAN E 4092 EAST 118TH AVENUE DENVER CO 80233
ML667 10266122641 TODD JAMES W 5402 EAST CALLE DEL MEDIO PHOENIX AZ 85018
ML667 10266122643 BROWN LINDA M 1990 SOUTH DEXTER STREET DENVER CO 80222
ML667 10266122648 LUKOWIAK ROBERT F 16147 EAST BALSAM DRIVE FOUNTAIN HILLS AZ 85268
ML667 10266122707 STODDARD LARRY JR 34 GARDEN STREET EAST FARMINGDALE NY 11735
ML667 10266122716 ADAMS HERMAN 538 JOHNSONTOWN ROAD PASADENA MD 21122
ML667 10266122766 DESIMONE ROY A 3098 WEST MARTINEZ WAY RIVERTON UT 84065
ML667 10266122832 BODDY CRAIG D 8550 SOUTH CHAPPEL CHICAGO IL 60617
ML667 10266122874 INGRAM VINCENT 3745 N JONES BLVD LAS VEGAS NV 89108
ML667 10266122887 GREENING DORIAN E 126 41ST COURT WASHOUGAL WA 98671
ML667 10266122908 RAY ALBERT C 6 ECHO VALLEY DRIVE NEW PROVIDENCE PA 17560
ML667 10266123016 HANSEN JOEL A 37 PISCITELLO DRIVE BRANFORD CT 06405
ML667 10266123095 FRAINA PETER 2157 LEGION STREET BELLMORE NY 11710
ML667 10266123096 REESE DANIEL A 117 S FLORENCE AVENUE LITCHFIELD PARK AZ 85340
ML667 10266123145 FERGUSON DAVID 498 FORBES STREET EAST HARTFORD CT 06118
ML667 10266123195 MADDOX SHARON L 716 EAST KEYSVILLE ROAD PLANT CITY FL 33567
ML667 10266123211 HANISEE WILLIAM B 6374 2ND AVE SO SAINT PETERSBURG FL 33707
ML667 10266123241 SOWIRKA ADAM 86 HEDGES AVENUE EAST PATCHOGUE NY 11772
ML667 10266123259 DECICCO VICTOR L 925 LAGUNA HONDA BLVD SAN FRANCISCO CA 94127
ML667 10266123290 SABALJA PHILIP 56 ROSE WAY BRIDGEHAMPTON NY 11932
ML667 10266123410 DAVIDSON BRIAN MICHAEL 5507 SOUTH WESTSIDE CIRCLE SALT LAKE CITY UT 84118
ML667 10266123416 FORD THOMAS F 14563 EAST 11TH AVENUE AURORA CO 80011
ML667 10266123423 TAUBLIEB CHARLIE 6122 SOUTH BOSTON CIRCLE ENGLEWOOD CO 80111
ML667 10266123448 MORALES ROSALINDA 2715 ADAMS AVENUE OGDEN UT 84401
ML667 10266123462 GARDELLA RICHARD E JR 5916 SONOMA ROAD BETHESDA MD 20817
ML667 10266123470 ARGES JAMES M 2309 WEST CLUB BLVD DURHAM NC 27705
ML667 10266123507 BARNES E LEE 5000 MARTIN LUTHER KING BLVD DENVER CO 80207
ML667 10266123516 BEAN ARTRY WAYNE 3020 HOLLY STREET DENVER CO 80207
ML667 10266123528 WERNER WILLIAM 71 EUGENE PLACE BELLEVILLE NJ 07109
ML667 10266123626 FIGLIOLA PETER 12 GRAYS FARM ROAD WESTPORT CT 06883
ML667 10266123628 SCOTT KATHLEEN 337 HAWTHORNE AVENUE POINT PLEASANT BEACH NJ 08742
ML667 10266123656 KING JAMES M 444 EAST HEARNE WAY GILBERT AZ 85234
ML667 10266123667 BAKER DONALD L 115 CHESTERFIELD DRIVE NEW CASTLE DE 19720
ML667 10266123791 WILLIAMS JACK STERLING JR 6504 WEST LEAWOOD DRIVE LITTLETON CO 80123
ML667 10266123891 WAGNER FAYE A 39311 RICHLAND LIVONIA MI 48150
ML667 10266123926 HAHLBOHM CHRISTINE 49 WEST WHITE STREET BRENTWOOD NY 11717
ML667 10266123976 BALL ANDREW S 9415 OAKMONT ROAD NE ALBUQUERQUE NM 87111
ML667 10266124045 BENN IVAN 218-44 132ND AVENUE LAURELTON NY 11413
ML667 10266124070 CHANDLER TIMOTHY A 28 ROBINS LANE BERWYN PA 19312
ML667 10266124076 WHORTON JERRY 3188 SOUTH HALIFAX STREET AURORA CO 80013
ML667 10266124191 HAMMON JAMES M 1 AUTUMN DRIVE ENFIELD CT 06082
<CAPTION>
Principal Cut-off Date First
Balance at Principal Payment Maturity Rem
Sale ID Account Origination Balance Date Date Term
- ---------------------------------------------------------------------------------------------------------------------
<C> <C> <S> <C> <C> <C> <C>
ML667 10266121323 205,650.00 205,489.65 08/23/96 07/23/11 178.68
ML667 10266121334 160,000.00 159,766.58 08/03/96 07/03/11 178.03
ML667 10266121395 238,000.00 238,000.00 09/01/96 08/01/11 179.00
ML667 10266121573 23,500.00 23,500.00 08/22/96 07/22/11 178.65
ML667 10266121605 23,100.00 23,100.00 08/24/96 07/24/11 178.72
ML667 10266121664 55,000.00 55,000.00 09/02/96 08/02/16 239.01
ML667 10266121796 51,800.00 51,629.54 08/16/96 07/16/11 178.45
ML667 10266121853 105,000.00 104,977.97 09/01/96 08/01/11 179.00
ML667 10266121920 73,100.00 73,100.00 08/23/96 07/23/26 358.68
ML667 10266121946 153,000.00 153,000.00 09/02/96 08/02/26 359.01
ML667 10266121964 46,000.00 46,000.00 08/22/96 07/22/11 178.65
ML667 10266122006 42,758.00 42,666.33 09/01/96 08/01/11 179.00
ML667 10266122021 19,334.00 19,314.94 08/11/96 07/11/11 178.29
ML667 10266122036 140,250.00 140,250.00 07/26/96 06/26/11 177.80
ML667 10266122117 56,000.00 56,000.00 09/05/96 08/05/16 239.11
ML667 10266122149 55,000.00 55,000.00 08/26/96 07/26/11 178.78
ML667 10266122224 49,500.00 48,928.65 08/22/96 07/22/16 238.65
ML667 10266122374 40,000.00 39,941.68 08/12/96 07/12/11 178.32
ML667 10266122439 30,000.00 30,000.00 09/01/96 08/01/11 179.00
ML667 10266122462 21,400.00 21,400.00 08/22/96 07/22/11 178.65
ML667 10266122612 32,000.00 32,000.00 09/02/96 08/02/11 179.01
ML667 10266122616 102,000.00 102,000.00 09/01/96 08/01/26 359.00
ML667 10266122641 99,000.00 99,000.00 08/10/96 07/10/11 178.26
ML667 10266122643 22,400.00 22,400.00 09/01/96 08/01/11 179.00
ML667 10266122648 27,000.00 26,990.86 08/16/96 07/16/11 178.45
ML667 10266122707 91,200.00 91,128.22 08/24/96 07/24/11 178.72
ML667 10266122716 20,400.00 20,400.00 08/26/96 07/26/26 358.78
ML667 10266122766 21,000.00 20,980.47 08/17/96 07/17/11 178.49
ML667 10266122832 20,000.00 19,952.25 08/22/96 09/22/11 180.65
ML667 10266122874 37,000.00 37,000.00 08/05/96 07/05/11 178.09
ML667 10266122887 14,700.00 14,600.90 08/09/96 07/09/11 178.22
ML667 10266122908 74,000.00 74,000.00 09/05/96 08/05/26 359.11
ML667 10266123016 21,500.00 21,500.00 09/01/96 08/01/11 179.00
ML667 10266123095 220,000.00 220,000.00 08/24/96 07/24/26 358.72
ML667 10266123096 81,600.00 81,511.61 08/11/96 07/11/26 358.29
ML667 10266123145 103,590.00 103,590.00 08/19/96 07/19/26 358.55
ML667 10266123195 38,500.00 38,304.74 09/01/96 08/01/11 179.00
ML667 10266123211 58,000.00 58,000.00 09/01/96 08/01/26 359.00
ML667 10266123241 39,000.00 39,000.00 09/05/96 08/05/11 179.11
ML667 10266123259 93,800.00 93,800.00 08/16/96 07/16/11 178.45
ML667 10266123290 100,000.00 100,000.00 09/05/96 08/05/11 179.11
ML667 10266123410 28,100.00 28,100.00 09/01/96 08/01/11 179.00
ML667 10266123416 16,560.00 16,560.00 09/05/96 08/05/11 179.11
ML667 10266123423 79,000.00 79,000.00 09/01/96 08/01/11 179.00
ML667 10266123448 30,513.00 30,513.00 08/16/96 07/16/11 178.45
ML667 10266123462 22,600.00 22,600.00 09/05/96 08/05/11 179.11
ML667 10266123470 18,000.00 18,000.00 09/01/96 08/01/11 179.00
ML667 10266123507 37,250.00 37,247.16 09/01/96 08/01/11 179.00
ML667 10266123516 91,800.00 91,800.00 09/02/96 08/02/11 179.01
ML667 10266123528 90,000.00 90,000.00 09/01/96 08/01/16 239.00
ML667 10266123626 70,000.00 70,000.00 08/23/96 07/23/11 178.68
ML667 10266123628 10,000.00 9,999.30 08/12/96 07/12/11 178.32
ML667 10266123656 43,200.00 43,200.00 08/25/96 07/25/11 178.75
ML667 10266123667 64,000.00 64,000.00 09/02/96 08/02/11 179.01
ML667 10266123791 15,955.00 15,955.00 09/05/96 08/05/11 179.11
ML667 10266123891 70,000.00 69,929.80 09/01/96 08/01/16 239.00
ML667 10266123926 112,500.00 112,500.00 09/01/96 08/01/11 179.00
ML667 10266123976 242,250.00 242,250.00 08/16/96 07/16/11 178.45
ML667 10266124045 141,950.00 141,950.00 09/01/96 08/01/11 179.00
ML667 10266124070 16,500.00 16,500.00 09/05/96 08/05/11 179.11
ML667 10266124076 23,250.00 23,250.00 09/05/96 08/05/11 179.11
ML667 10266124191 28,400.00 28,400.00 09/01/96 08/01/11 179.00
<CAPTION>
Original Current Scheduled
Date LTV Mortgage Payment
Sale ID Account Due Ratio Rate Int & Prin
- ---------------------------------------------------------------------------------------------
ML667 10266121323 09/23/96 90.0 11.100 1,974.01
ML667 10266121334 10/03/96 52.1 13.350 1,813.79
ML667 10266121395 09/01/96 78.8 9.650 2,027.33
ML667 10266121573 09/22/96 79.8 12.450 288.88
ML667 10266121605 08/24/96 89.9 11.250 266.19
ML667 10266121664 09/02/96 33.8 10.500 549.11
ML667 10266121796 09/16/96 86.3 12.350 546.82
ML667 10266121853 10/01/96 67.7 10.700 976.21
ML667 10266121920 08/23/96 73.1 12.350 771.67
ML667 10266121946 09/02/96 90.0 11.500 1,515.15
ML667 10266121964 09/22/96 84.5 11.800 546.17
ML667 10266122006 10/01/96 87.7 12.000 513.17
ML667 10266122021 09/11/96 85.0 12.700 240.82
ML667 10266122036 09/26/96 85.0 10.750 1,309.21
ML667 10266122117 09/05/96 74.6 11.700 604.94
ML667 10266122149 09/26/96 69.6 10.500 503.11
ML667 10266122224 10/22/96 75.0 11.990 544.69
ML667 10266122374 09/12/96 79.3 13.200 448.74
ML667 10266122439 09/01/96 57.3 11.490 350.27
ML667 10266122462 08/22/96 84.8 13.700 280.69
ML667 10266122612 09/02/96 84.6 10.750 358.70
ML667 10266122616 09/01/96 85.0 11.750 1,029.60
ML667 10266122641 08/10/96 86.1 12.000 1,018.33
ML667 10266122643 09/01/96 84.9 12.990 283.27
ML667 10266122648 09/16/96 77.2 10.700 301.81
ML667 10266122707 09/24/96 80.0 10.990 867.83
ML667 10266122716 08/26/96 80.8 14.250 245.76
ML667 10266122766 09/17/96 81.0 11.650 247.33
ML667 10266122832 09/22/96 75.4 10.490 219.95
ML667 10266122874 09/05/96 87.1 11.250 426.37
ML667 10266122887 10/09/96 85.0 13.700 192.81
ML667 10266122908 09/05/96 65.4 12.750 804.15
ML667 10266123016 09/01/96 89.9 12.500 264.99
ML667 10266123095 09/24/96 73.3 10.750 2,053.66
ML667 10266123096 09/11/96 82.0 12.000 839.35
ML667 10266123145 09/19/96 86.3 11.950 1,061.55
ML667 10266123195 10/01/96 68.7 9.650 405.52
ML667 10266123211 09/01/96 76.3 11.000 552.35
ML667 10266123241 09/05/96 75.2 11.490 455.35
ML667 10266123259 09/16/96 84.9 13.800 1,096.58
ML667 10266123290 09/05/96 10.7 10.990 951.57
ML667 10266123410 09/01/96 89.9 12.900 353.69
ML667 10266123416 09/05/96 89.8 12.000 198.75
ML667 10266123423 09/01/96 84.9 12.990 999.02
ML667 10266123448 08/16/96 74.9 11.950 312.69
ML667 10266123462 09/05/96 80.0 13.750 263.32
ML667 10266123470 09/01/96 84.0 12.700 224.20
ML667 10266123507 10/01/96 82.5 12.250 390.34
ML667 10266123516 09/02/96 85.0 11.250 891.62
ML667 10266123528 09/01/96 83.3 10.990 928.36
ML667 10266123626 08/23/96 84.7 11.650 824.42
ML667 10266123628 09/12/96 52.2 13.450 129.50
ML667 10266123656 08/25/96 90.0 12.000 444.36
ML667 10266123667 09/02/96 80.0 10.750 717.41
ML667 10266123791 09/05/96 78.0 14.250 215.17
ML667 10266123891 10/01/96 59.3 10.850 715.40
ML667 10266123926 09/01/96 90.0 11.200 1,088.40
ML667 10266123976 09/16/96 85.0 10.250 2,170.81
ML667 10266124045 09/01/96 85.0 9.950 1,240.47
ML667 10266124070 09/05/96 85.0 12.990 208.66
ML667 10266124076 09/05/96 75.0 14.000 309.63
ML667 10266124191 09/01/96 89.5 12.450 349.11
</TABLE>
<PAGE>
Alliance Funding Company Page 19 9/16/96
A division of Superior Bank FSB
Sale Schedule
1996-3 Class 1 - Initial Pool of Fixed Rate Mortgages - Settlement 9/23/96
<TABLE>
<CAPTION>
Zip
Sale ID Account Name Address City State Code
- -----------------------------------------------------------------------------------------------------------------------------
<C> <C> <S> <C> <C> <C> <C>
ML667 10266124216 SATTA NORBERT A 7942 E MALVERN PLACE TUCSON AZ 85710
ML667 10266124231 BERGEN BRUCE J 3543 EAST FIELDSTONE CIRCLE SALT LAKE CITY UT 84121
ML667 10266124243 COOPER PERRY L 1400 HALLAM AVENUE COLORADO SPRINGS CO 80911
ML667 10266124284 SMITH SR JOHN 5530 W. MOORESVILLE INDIANAPOLIS IN 46221
ML667 10266124339 BERGDORF MARIETTA 273 SOUTH 1550 EAST BOUNTIFUL UT 84010
ML667 10266124354 GRIFFITHS THOMAS A 4118 NW GLENEAGLES PLACE PORTLAND OR 97229
ML667 10266124372 JOHNSTUN ROBERT A 4138 WEST CHELTONHAM WAY WEST JORDAN UT 84084
ML667 10266124395 TAGUE JAMES L 5740 N HIGHLAND PARK DRIVE HERNANDO FL 34442
ML667 10266124403 BUSICO JAMES D 305 SOUTH 1ST WEST TOOELE UT 84074
ML667 10266124414 SORRENTINO CHARLES L 17481 POSTON AVENUE PT CHARLOTTE FL 33948
ML667 10266124551 ANDROCKITIS WILLIAM A 96 SASSAFRAS COURT MOUNTAIN TOP PA 18707
ML667 10266124557 SPRIGGS JOHN E JR 5409 GRADIN AVENUE BALTIMORE MD 21207
ML667 10266124560 TATRO DAVID A 40 LOUISIANA AVENUE BAY SHORE NY 11706
ML667 10266124687 ARACIL FRANCIS E JR 15 UNDERHILL AVENUE HICKSVILLE NY 11801
ML667 10266124742 JOHNSON ELLA H 11224 NORTHEAST 141ST PLACE KIRKLAND WA 98034
ML667 10266124752 MANGINO MARIA 1314 FLAGLER DRIVE MAMARONECK NY 10543
ML667 10266124784 TERRY HARTSEL RAY 1312 ILLINOIS AVE PALM HARBOR FL 34683
ML667 10266124833 JAMES GEORGE P 163 FANNING STREET STATEN ISLAND NY 10314
ML667 10266124849 FOSTER JOSEPH C 263 CLARKS FALLS ROAD NORTH STONINGTON CT 06359
ML667 10266124852 MANGIA MARYANN 693 WINDMILL AVENUE WEST BABYLON NY 11704
ML667 10266125024 PETERSON LLOYD J 964 EAST 400 NORTH LAYTON UT 84041
ML667 10266125091 NESTOR SUSAN 31 LANSING AVENUE TRUMBULL CT 06611
ML667 10266125093 STALLONE ANTHONY 2416 84TH STREET BROOKLYN NY 11214
ML667 10266125167 TAIT PENNY D 1551 HERMESPROTA DRIVE SHARON HILL PA 19079
ML667 10266125176 CHARTCHAY BEN 14 CRESCENT DRIVE DANBURY CT 06810
ML667 10266125192 BROTHERS MELVIN P 636 HANOVER AVE ALLENTOWN PA 18103
ML667 10266125244 SARGENT MELISSA D 5435 AVENIDA DEL MARE SARASOTA FL 34242
ML667 10266125321 NOWLIN ROBERT E JR 4871 SOUTH 3900 WEST ROY UT 84067
ML667 10266125325 BASS DAVID PAUL 658 WEST 550 NORTH CLEARFIELD UT 84015
ML667 10266125347 COLON ANGEL 349 53RD STREET BROOKLYN NY 11220
ML667 10266125411 MEROLA MARIO 2150 77TH STREET BROOKLYN NY 11214
ML667 10266125432 BURKE WILLIAM H 3685 EAST LAZY RIVER DRIVE DUNNELLON FL 34434
ML667 10266125438 MAXWELL BESSIE L 4106 WESTWOOD DRIVE HOLIDAY FL 34691
ML667 10266125467 BRENNAN RHETT D 33 AUTUMN DRIVE DILLSBURG PA 17019
ML667 10266125489 SODERMAN STEVEN M 1754 WEST 13235 SOUTH RIVERTON UT 84065
ML667 10266125501 MAYES CHARLES H 121 ORANGE STREET LUMBERTON NC 28358
ML667 10266125569 HILL JAMES L 2152 E HARRISON AVENUE LATROBE PA 15650
ML667 10266125594 MESSINA SALVATORE 82 HAMLET DRIVE COMMACK NY 11725
ML667 10266125652 MANGUM CONIE M 12177SOUTH SUMMIT HOLLOW CIRC RIVERTON UT 84065
ML667 10266125699 LOTMAN RHONDA M 6711 N 30TH AVENUE PHOENIX AZ 85017
ML667 10266125705 KOGLER JACQUELINE 132 TRAFALGAR DRIVE SHIRLEY NY 11967
ML667 10266125868 CABAN ROBERTO 1258 TATAMY ROAD EASTON PA 18045
ML667 10266125874 MCSHANE RICKIE A SR 508 PAWNEE STREET BETHLEHEM PA 18015
ML667 10266125904 STIEGMANN EDWARD J 635 GRANDVIEW DRIVE LEHIGH ACRES FL 33936
ML667 10266125947 ROMERO JOSE R 1011 E EMMA STREET TAMPA FL 33603
ML667 10266125979 DUST JOSEPH T 1368 SOUTH HERCULES AVE CLEARWATER FL 34624
ML667 10266125996 PLUMMER MARJORIE J 4004 SAN RAFAEL STREET TAMPA FL 33629
ML667 10266125997 ESPLIN WAYNE 359 -61 EAST THIRD AVENUE SALT LAKE CITY UT 84103
ML667 10266126216 CRENSHAW HERMAN LEE 4364 LEE HEIGHTS BLVD. WARRENSVILLE HEIGHTS OH 44128
ML667 10266126342 BOSSO NICK 404 DEERFIELD ROAD CAMP HILL PA 17011
ML667 10266126430 KISER DIADRA K 3934 PASCAY COURT HOLIDAY FL 34691
ML667 10266126459 GRIEGO VINCENT J 5336 WEST HENLEY DRIVE SALT LAKE CITY UT 84118
ML667 10266126462 EASTABROOK TIMOTHY M 1201 WEST 1640 NORTH CLINTON UT 84015
ML667 10266126468 HUNTINGTON MICHAEL W 559-561 WEST 1000 SOUTH WOODS CROSS UT 84087
ML667 10266126470 PREECE GORDON S 3891 WEST 4000 SOUTH WEST HAVEN UT 84315
ML667 10266126471 WORTHEN PAUL E 162 EAST 3000 SOUTH BOUNTIFUL UT 84010
ML667 10266126573 LIVINGSTON WESLEY 21 RANDI DRIVE STONE RIDGE NY 12484
ML667 10266126574 HODGE OLIVE 109-16 205TH PLACE QUEENS NY 11412
ML667 10266126596 KIMBALL RALPH A 9927 SOUTH WEYBRIDGE CIRCLE SANDY UT 84092
ML667 10266126597 CUTLER CANDACE KAY 1576 CAPITOL STREET OGDEN UT 84401
ML667 10266126613 ZAHORUJKO NICK 2023 TITAN TERRACE WEST LINN OR 97068
ML667 10266126656 CRAFT MARVIN L 5405 ALTURAS DRIVE COLORADO SPRINGS CO 80911
<CAPTION>
Principal Cut-off Date First
Balance at Principal Payment Maturity Rem
Sale ID Account Origination Balance Date Date Term
- ---------------------------------------------------------------------------------------------------------------------
<C> <C> <S> <C> <C> <C> <C>
ML667 10266124216 28,000.00 28,000.00 09/01/96 08/01/11 179.00
ML667 10266124231 40,000.00 39,921.73 09/01/96 08/01/11 179.00
ML667 10266124243 12,000.00 12,000.00 09/01/96 08/01/16 239.00
ML667 10266124284 68,800.00 68,713.58 08/22/96 07/22/16 238.65
ML667 10266124339 118,000.00 118,000.00 08/25/96 07/25/11 178.75
ML667 10266124354 39,838.00 39,838.00 09/01/96 08/01/11 179.00
ML667 10266124372 23,200.00 23,200.00 08/03/96 07/03/11 178.03
ML667 10266124395 65,025.00 65,025.00 09/01/96 08/01/16 239.00
ML667 10266124403 37,421.00 37,277.74 08/03/96 07/03/11 178.03
ML667 10266124414 15,000.00 14,942.84 09/06/96 08/06/11 179.15
ML667 10266124551 42,000.00 41,937.75 09/02/96 08/02/16 239.01
ML667 10266124557 81,900.00 81,687.59 09/01/96 08/01/11 179.00
ML667 10266124560 63,000.00 63,000.00 09/01/96 08/01/11 179.00
ML667 10266124687 25,200.00 25,200.00 09/01/96 08/01/06 119.00
ML667 10266124742 38,700.00 38,683.09 08/16/96 07/16/11 178.45
ML667 10266124752 500,000.00 500,000.00 09/01/96 08/01/11 179.00
ML667 10266124784 42,000.00 41,951.54 09/01/96 08/01/16 239.00
ML667 10266124833 30,000.00 30,000.00 09/01/96 08/01/06 119.00
ML667 10266124849 26,800.00 26,800.00 09/05/96 08/05/11 179.11
ML667 10266124852 34,000.00 34,000.00 09/05/96 08/05/11 179.11
ML667 10266125024 18,983.00 18,983.00 08/03/96 07/03/11 178.03
ML667 10266125091 44,000.00 44,000.00 09/01/96 08/01/11 179.00
ML667 10266125093 15,000.00 15,000.00 09/08/96 08/08/16 239.21
ML667 10266125167 31,500.00 31,500.00 09/02/96 08/02/11 179.01
ML667 10266125176 22,700.00 22,651.36 09/01/96 08/01/11 179.00
ML667 10266125192 56,000.00 55,914.43 09/01/96 08/01/11 179.00
ML667 10266125244 34,800.00 34,800.00 09/01/96 08/01/11 179.00
ML667 10266125321 29,050.00 29,050.00 08/12/96 07/12/11 178.32
ML667 10266125325 23,918.00 23,918.00 08/25/96 07/25/11 178.75
ML667 10266125347 131,750.00 131,750.00 08/23/96 07/23/11 178.68
ML667 10266125411 50,000.00 50,000.00 09/06/96 08/06/11 179.15
ML667 10266125432 56,950.00 56,950.00 09/01/96 08/01/11 179.00
ML667 10266125438 59,500.00 59,500.00 09/01/96 08/01/26 359.00
ML667 10266125467 14,100.00 14,100.00 08/24/96 07/24/06 118.72
ML667 10266125489 42,783.00 42,760.77 08/17/96 07/17/11 178.49
ML667 10266125501 37,000.00 36,875.47 09/01/96 08/01/11 179.00
ML667 10266125569 27,530.00 27,530.00 09/06/96 08/06/16 239.15
ML667 10266125594 97,900.00 97,900.00 09/06/96 08/06/11 179.15
ML667 10266125652 27,206.00 27,206.00 08/16/96 07/16/11 178.45
ML667 10266125699 17,726.00 17,670.40 08/26/96 07/26/11 178.78
ML667 10266125705 163,800.00 163,800.00 09/05/96 08/05/11 179.11
ML667 10266125868 128,000.00 128,000.00 09/02/96 08/02/11 179.01
ML667 10266125874 18,300.00 18,300.00 09/02/96 08/02/11 179.01
ML667 10266125904 80,000.00 80,000.00 09/01/96 08/01/11 179.00
ML667 10266125947 17,500.00 17,500.00 09/05/96 08/05/11 179.11
ML667 10266125979 39,500.00 39,500.00 09/06/96 08/06/11 179.15
ML667 10266125996 70,200.00 70,200.00 09/01/96 08/01/11 179.00
ML667 10266125997 133,250.00 133,250.00 09/01/96 08/01/11 179.00
ML667 10266126216 58,500.00 58,500.00 09/01/96 08/01/26 359.00
ML667 10266126342 52,900.00 52,900.00 09/06/96 08/06/16 239.15
ML667 10266126430 17,600.00 17,600.00 09/06/96 08/06/11 179.15
ML667 10266126459 24,495.00 24,495.00 08/22/96 07/22/11 178.65
ML667 10266126462 33,539.00 33,482.11 08/22/96 07/22/11 178.65
ML667 10266126468 36,000.00 36,000.00 08/22/96 07/22/11 178.65
ML667 10266126470 29,784.00 29,749.37 08/22/96 07/22/11 178.65
ML667 10266126471 16,603.00 16,603.00 08/22/96 07/22/11 178.65
ML667 10266126573 67,500.00 67,481.74 07/26/96 06/26/16 237.80
ML667 10266126574 36,250.00 36,140.68 07/28/96 06/28/16 237.86
ML667 10266126596 72,000.00 72,000.00 08/23/96 07/23/16 238.68
ML667 10266126597 32,900.00 32,900.00 08/23/96 07/23/11 178.68
ML667 10266126613 85,000.00 85,000.00 09/02/96 08/02/11 179.01
ML667 10266126656 31,200.00 31,200.00 09/01/96 08/01/11 179.00
<CAPTION>
Original Current Scheduled
Date LTV Mortgage Payment
Sale ID Account Due Ratio Rate Int & Prin
- ---------------------------------------------------------------------------------------------
ML667 10266124216 09/01/96 73.8 13.250 358.89
ML667 10266124231 10/01/96 48.8 13.090 508.47
ML667 10266124243 09/01/96 79.5 10.750 121.83
ML667 10266124284 09/22/96 84.9 9.650 648.06
ML667 10266124339 08/25/96 85.0 13.950 1,393.48
ML667 10266124354 09/01/96 78.5 11.490 394.21
ML667 10266124372 09/03/96 84.9 13.450 300.44
ML667 10266124395 09/01/96 85.0 10.990 670.74
ML667 10266124403 10/03/96 81.2 14.700 516.07
ML667 10266124414 10/06/96 67.0 11.650 176.66
ML667 10266124551 10/02/96 89.5 11.990 462.16
ML667 10266124557 10/01/96 90.0 11.200 941.18
ML667 10266124560 09/01/96 90.0 11.500 623.88
ML667 10266124687 09/01/96 75.2 11.490 354.16
ML667 10266124742 09/16/96 67.5 12.200 469.46
ML667 10266124752 09/01/96 47.6 10.250 4,480.51
ML667 10266124784 10/01/96 66.6 11.990 462.16
ML667 10266124833 09/01/96 85.2 10.250 400.62
ML667 10266124849 09/05/96 83.1 12.750 334.69
ML667 10266124852 09/05/96 90.0 11.700 401.52
ML667 10266125024 09/03/96 89.9 12.600 235.21
ML667 10266125091 09/01/96 84.6 11.650 518.21
ML667 10266125093 09/08/96 67.8 13.550 181.65
ML667 10266125167 09/02/96 70.0 12.250 330.09
ML667 10266125176 10/01/96 89.9 12.000 272.44
ML667 10266125192 10/01/96 80.0 13.750 652.46
ML667 10266125244 09/01/96 84.7 12.990 440.08
ML667 10266125321 09/12/96 79.1 12.350 355.22
ML667 10266125325 09/25/96 71.9 15.350 340.51
ML667 10266125347 09/23/96 85.0 12.950 1,452.28
ML667 10266125411 09/06/96 87.9 12.000 514.31
ML667 10266125432 09/01/96 75.9 10.150 617.22
ML667 10266125438 09/01/96 85.0 12.490 634.56
ML667 10266125467 08/24/96 89.9 11.250 196.23
ML667 10266125489 09/17/96 86.7 11.000 486.27
ML667 10266125501 10/01/96 80.4 9.900 395.34
ML667 10266125569 09/06/96 68.8 10.000 265.67
ML667 10266125594 09/06/96 84.9 11.750 988.21
ML667 10266125652 08/16/96 79.8 15.100 382.64
ML667 10266125699 09/26/96 89.4 12.000 212.74
ML667 10266125705 09/05/96 90.0 11.750 1,653.41
ML667 10266125868 09/02/96 84.7 9.990 1,122.35
ML667 10266125874 09/02/96 90.0 11.740 216.58
ML667 10266125904 09/01/96 80.0 11.690 803.85
ML667 10266125947 09/05/96 82.8 10.500 193.44
ML667 10266125979 09/06/96 89.9 11.700 466.47
ML667 10266125996 09/01/96 60.0 11.750 708.61
ML667 10266125997 09/01/96 65.0 12.440 1,415.92
ML667 10266126216 09/01/96 90.0 11.240 567.74
ML667 10266126342 09/06/96 89.9 11.750 573.28
ML667 10266126430 09/06/96 74.3 11.450 205.04
ML667 10266126459 09/22/96 84.9 13.450 317.21
ML667 10266126462 09/22/96 89.8 12.600 415.56
ML667 10266126468 09/22/96 69.6 12.200 436.70
ML667 10266126470 09/22/96 80.0 15.590 428.95
ML667 10266126471 08/22/96 84.9 13.450 215.01
ML667 10266126573 08/26/96 47.8 11.500 719.84
ML667 10266126574 09/28/96 89.3 10.500 361.91
ML667 10266126596 09/23/96 67.0 14.900 942.77
ML667 10266126597 08/23/96 83.9 12.200 399.10
ML667 10266126613 09/02/96 71.4 10.750 793.46
ML667 10266126656 09/01/96 88.2 12.250 379.49
</TABLE>
<PAGE>
Alliance Funding Company Page 20 9/16/96
A division of Superior Bank FSB
Sale Schedule
1996-3 Class 1 - Initial Pool of Fixed Rate Mortgages - Settlement 9/23/96
<TABLE>
<CAPTION>
Zip
Sale ID Account Name Address City State Code
- -----------------------------------------------------------------------------------------------------------------------------
<C> <C> <S> <C> <C> <C> <C>
ML667 10266126685 WATTERS JASON B 314 BALL STREET ELGIN IL 60123
ML667 10266126721 KING DOROTHY U 6900 SCHISSLER AVENUE BALTIMORE MD 21207
ML667 10266126784 KENYON WESLEY E 4929 DEWAR DRIVE COLORADO SPRINGS CO 80916
ML667 10266126806 HAHN NANCY LOUISE 276 SOUTH ADAMS PLACE LOUISVILLE CO 80027
ML667 10266126820 ALDRICH KIRK E 6106 MACARTHUR DR. HARRISBURG PA 17112
ML667 10266126927 EBINGER WARREN L 8 15TH STREET HAMMONTON NJ 08037
ML667 10266126936 FRONAPFEL JAMES C 9230 WEST 87TH PLACE ARVADA CO 80005
ML667 10266127443 WEST KELLY 8491 SOUTH MEADOWLARK LANE WEST JORDAN UT 84088
-------------------------------------------
194 Sale Total
<CAPTION>
Principal Cut-off Date First
Balance at Principal Payment Maturity Rem
Sale ID Account Origination Balance Date Date Term
- ---------------------------------------------------------------------------------------------------------------------
<C> <C> <S> <C> <C> <C> <C>
ML667 10266126685 104,500.00 104,473.11 09/01/96 08/01/11 179.00
ML667 10266126721 125,400.00 125,400.00 09/07/96 08/07/11 179.18
ML667 10266126784 48,148.00 48,148.00 09/01/96 08/01/11 179.00
ML667 10266126806 25,000.00 25,000.00 09/01/96 08/01/11 179.00
ML667 10266126820 55,000.00 54,850.38 09/05/96 08/05/11 179.11
ML667 10266126927 56,000.00 56,000.00 09/05/96 08/05/11 179.11
ML667 10266126936 24,000.00 24,000.00 09/05/96 08/05/11 179.11
ML667 10266127443 12,782.00 12,782.00 09/01/96 08/01/11 179.00
--------------------------------------------------------- -------------
194 12,493,529.00 12,487,838.39 219.54
<CAPTION>
Original Current Scheduled
Date LTV Mortgage Payment
Sale ID Account Due Ratio Rate Int & Prin
- ---------------------------------------------------------------------------------------------
ML667 10266126685 10/01/96 84.9 10.250 936.43
ML667 10266126721 09/07/96 80.9 13.250 1,411.72
ML667 10266126784 09/01/96 90.0 12.250 585.62
ML667 10266126806 09/01/96 67.6 10.750 233.37
ML667 10266126820 10/05/96 83.4 11.950 563.62
ML667 10266126927 09/05/96 46.6 10.990 532.88
ML667 10266126936 09/05/96 79.4 13.500 311.60
ML667 10266127443 09/01/96 80.2 12.200 155.05
------------------ -------------------------------------------
194 77.8 11.486 129,020.97
</TABLE>
<PAGE>
Alliance Funding Company Page 21 9/16/96
A division of Superior Bank FSB
Sale Schedule
1996-3 Class 1 - Initial Pool of Fixed Rate Mortgages - Settlement 9/23/96
<TABLE>
<CAPTION>
Zip
Sale ID Account Name Address City State Code
- -----------------------------------------------------------------------------------------------------------------------------
<C> <C> <S> <C> <C> <C> <C>
ML668 10266107708 FRANCOIS NEPTUNE 145 17 FARMERS BLVD SPRINGFIELD GARDENS NY 11434
ML668 10266108820 SEELEY WORTH L 353 OAK TRAIL COVENTRY CT 06238
ML668 10266113117 MUIR CLARENCE GEORGE 148-15 NORTH CONDUIT AVENUE SOUTH OZONE PARK NY 11436
ML668 10266113222 BRADY MICHAEL W 2528 NORTHEAST 18TH AVENUE PORTLAND OR 97212
ML668 10266113556 IBRAIMOVIC MUKEREM 1123 FOREST AVENUE STATEN ISLAND NY 10310
ML668 10266113777 ROSE DAVID MORTON 16254 GREENHORN ROAD GRASS VALLEY CA 95945
ML668 10266114349 KENNEDY BRADLEY G 1311 KENTUCKY STREET HIGH POINT NC 27262
ML668 10266114934 MORRELL ELIZABETH 512 SHERWOOD LANE HATBORO PA 19040
ML668 10266115017 LEONE MARIA 63 PASSAIC STREET NEWARK NJ 07104
ML668 10266115690 DIXON STANLEY 672 EAST 224TH STREET BRONX NY 10466
ML668 10266115774 GOEDEL EUGENE 2221 N SWAN ROAD TUCSON AZ 85712
ML668 10266115959 DAVIS MARILYN B 3717 WEST CHAMA DRIVE PHOENIX AZ 85310
ML668 10266117173 CLARK MARILYN CARROLL 2370 SIDEWINDER DRIVE PARK CITY UT 84060
ML668 10266117186 ASPER CASSANDRA RENEE 212 PARK STREET SILVERTON OR 97381
ML668 10266117228 ROMULUS FABIEN 145-43 158TH STREET JAMAICA NY 11434
ML668 10266118229 SANTISTEVAN RICHARD 11708 W KATHERINE AVENUE GOLDEN CO 80401
ML668 10266118355 WATSON ROMANA 177 19 106TH AVENUE JAMAICA NY 11433
ML668 10266118595 CHRISTIAN OLEDI D 8554 WEST BERKELEY ROAD PHOENIX AZ 85037
ML668 10266118705 FERGUSON DAVID C 11509 BELVIDERE ROAD MITCHELLVILLE MD 20716
ML668 10266118844 YODER JANET S 608 EAGLE PLACE NOKOMIS FL 34275
ML668 10266119162 SALAZAR CONSUELO C 603 N ALAMEDA BOULEVARD LAS CRUCES NM 88005
ML668 10266119682 CARVER EDWIN R 5304 WEYWOOD AVENUE REISTERSTOWN MD 21136
ML668 10266119913 JOHNSON WILLIAM H 10060 FAIRBANKS AVENUE BEACH PARK IL 60099
ML668 10266120059 WRIGHT KENTON H 4337 ELY AVENUE BRONX NY 10466
ML668 10266120157 SPENCER DARIN R 23480 RENO AVENUE GERBER CA 96035
ML668 10266120191 CHAIT DAVID 148-13 HOOK CREEK BOULEVARD ROSEDALE NY 11422
ML668 10266120223 WERBER DAVID G 15 ALLAN ROAD BREWSTER NY 10509
ML668 10266120417 ESPOSITO LOUIS 116 DALE DRIVE OAKDALE NY 11769
ML668 10266120676 NISSEN JACK L 12844 KENYON DRIVE CHESTERLAND OH 44026
ML668 10266120686 KORDISH WILLIAM A 2337 WEST 5TH STREET CLEVELAND OH 44113
ML668 10266120866 BERNARD SANFORD 42 WOODLAND ROAD ROSLYN NY 11576
ML668 10266120917 MILLIAN SUSAN M 1234 MIDDLESEX DRIVE NEW PORT RICHEY FL 34655
ML668 10266120937 HENINGER KEITH K 1266 NORTH 3200 WEST WEST POINT UT 84015
ML668 10266120952 KENYON H PAYSON 708 EAST COCHISE DRIVE UNIT B PHOENIX AZ 85020
ML668 10266120968 MARRONE JOHN 89 HOMESTEAD PLACE NEW ROCHELLE NY 10801
ML668 10266121136 THOMPSON BEVERLY C 57 SHERIN DRIVE NEWARK DE 19702
ML668 10266121154 ADAMS DAVID A 4017 PURDY ROAD LOCKPORT NY 14094
ML668 10266121259 ARMSTRONG VIVIAN S 533 HAMPSHIRE LANE BOLINGBROOK IL 60440
ML668 10266121288 ONUFFER MARY BETH 154 COLONY STREET DEPEW NY 14043
ML668 10266121476 REAGAN ELBERT B 1345 W EDGEMONT AVE. PHOENIX AZ 85007
ML668 10266121596 SANCHEZ MARIANELA 448, 450, 452 S PERSHING AVE STOCKTON CA 95206
ML668 10266121716 BLEDSOE DANITA M 4256 SUNSET AVENUE INDIANAPOLIS IN 46208
ML668 10266121817 PHILIPS ILKER ZERTUNC 3 KELLY COURT EAST FISHKILL NY 12582
ML668 10266121848 GABY DEBRA ELIZABETH 759 ZUNI ROAD RIO RANCHO NM 87124
ML668 10266121870 KIMMINAU FERDINAND F 928 BERKLEY STREET CARPENTERSVILLE IL 60110
ML668 10266121871 EASTERLING ROBERT W 826 EAST HYDE PARK UNIT 2 CHICAGO IL 60615
ML668 10266121986 OCAMPO ELSA L 153 SAINT NICHOLAS AVENUE BROOKLYN NY 11237
ML668 10266121995 MIRSKY EDWARD 8 MASON AVENUE EAST BRUNSWICK NJ 08816
ML668 10266122003 GOWEN ALAN R 2581 SOUTH BAUMGARDNER ROAD KEYMAR MD 21757
ML668 10266122034 DECARLO STEVEN F 1859 EAST 22 STREET BROOKLYN NY 11229
ML668 10266122176 IVEY WILLIAM H 3281 TURTLE LAKE DRIVE MARIETTA GA 30067
ML668 10266122225 OMBAO WILLIAM G 520 MILLS HINSDALE IL 60521
ML668 10266122229 HAWTHORNE CARVIN E 14072 W. OUTER DRIVE DETROIT MI MI 48239
ML668 10266122231 BANKS JULIETTE M 12624 SOUTH HARVARD CHICAGO IL 60628
ML668 10266122247 DALTON MARTHA C 3561 LOOKER AVENUE AKRON OH 44319
ML668 10266122510 KOHLER DAVID P 224 EAST MARKET STREET HELLAM PA 17406
ML668 10266122622 SANCHEZ MARIANELA 1334 1336 1338 W CHURCH ST STOCKTON CA 95206
ML668 10266122668 HAUGER LYNN 1336 ANTIGO TRAIL CAROL STREAM IL 60188
ML668 10266122671 O'BRIEN JAMES D 849 LAGRANGE ROAD LAGRANGE IL 60525
ML668 10266122690 HOSTETLER JERRY A 4923 E. KESSLER BLVD. INDIANAPOLIS IN 46220
ML668 10266122697 SHORTT TERRENCE E 11 WILEY LANE NEWTOWN CT 06470
ML668 10266122770 SAINSBURY DANIEL O 2185 NORTH 2300 EAST LAYTON UT 84040
<CAPTION>
Principal Cut-off Date First
Balance at Principal Payment Maturity Rem
Sale ID Account Origination Balance Date Date Term
- ---------------------------------------------------------------------------------------------------------------------
<C> <C> <S> <C> <C> <C> <C>
ML668 10266107708 124,000.00 124,000.00 07/17/96 06/17/11 177.50
ML668 10266108820 43,400.00 43,400.00 06/06/96 05/06/11 176.12
ML668 10266113117 100,000.00 100,000.00 09/08/96 08/08/11 179.21
ML668 10266113222 53,490.00 53,490.00 08/26/96 07/26/11 178.78
ML668 10266113556 64,500.00 64,500.00 08/01/96 07/01/11 178.00
ML668 10266113777 344,000.00 344,000.00 07/25/96 06/25/11 177.76
ML668 10266114349 81,000.00 81,000.00 09/09/96 08/09/11 179.24
ML668 10266114934 55,000.00 54,851.38 08/10/96 07/10/11 178.26
ML668 10266115017 43,200.00 43,200.00 09/07/96 08/07/26 359.18
ML668 10266115690 196,000.00 196,000.00 09/01/96 08/01/26 359.00
ML668 10266115774 26,252.00 26,252.00 08/02/96 07/02/11 177.99
ML668 10266115959 79,459.00 79,398.22 07/19/96 06/19/11 177.57
ML668 10266117173 192,800.00 192,800.00 09/05/96 08/05/26 359.11
ML668 10266117186 21,400.00 21,238.90 07/24/96 06/24/11 177.73
ML668 10266117228 90,000.00 90,000.00 08/19/96 07/19/11 178.55
ML668 10266118229 47,000.00 47,000.00 07/26/96 06/26/11 177.80
ML668 10266118355 123,750.00 123,750.00 09/14/96 08/14/16 239.41
ML668 10266118595 103,700.00 103,700.00 08/12/96 07/12/26 358.32
ML668 10266118705 47,000.00 47,000.00 09/12/96 08/12/11 179.34
ML668 10266118844 32,500.00 32,500.00 09/08/96 08/08/16 239.21
ML668 10266119162 78,000.00 78,000.00 07/25/96 06/25/11 177.76
ML668 10266119682 55,000.00 55,000.00 09/12/96 08/12/11 179.34
ML668 10266119913 13,600.00 13,469.54 08/01/96 09/01/11 180.00
ML668 10266120059 31,500.00 31,500.00 09/06/96 08/06/11 179.15
ML668 10266120157 192,950.00 192,950.00 08/26/96 07/26/11 178.78
ML668 10266120191 199,500.00 199,424.89 07/25/96 06/25/11 177.76
ML668 10266120223 45,000.00 45,000.00 09/14/96 08/14/11 179.41
ML668 10266120417 26,300.00 26,300.00 09/05/96 08/05/11 179.11
ML668 10266120676 144,500.00 144,356.27 08/15/96 07/15/16 238.42
ML668 10266120686 38,500.00 38,500.00 09/01/96 08/01/11 179.00
ML668 10266120866 300,000.00 298,888.94 09/01/96 08/01/11 179.00
ML668 10266120917 144,000.00 144,000.00 09/09/96 08/09/11 179.24
ML668 10266120937 29,000.00 28,427.87 08/23/96 07/23/11 178.68
ML668 10266120952 34,230.00 34,230.00 07/25/96 06/25/11 177.76
ML668 10266120968 100,000.00 100,000.00 09/02/96 08/02/26 359.01
ML668 10266121136 30,000.00 30,000.00 08/15/96 07/15/11 178.42
ML668 10266121154 21,000.00 21,000.00 09/05/96 08/05/11 179.11
ML668 10266121259 99,700.00 99,700.00 09/01/96 08/01/16 239.00
ML668 10266121288 16,943.00 16,943.00 09/01/96 08/01/11 179.00
ML668 10266121476 26,856.00 26,856.00 09/01/96 08/01/11 179.00
ML668 10266121596 81,000.00 81,000.00 08/12/96 07/12/26 358.32
ML668 10266121716 43,200.00 43,200.00 09/01/96 08/01/26 359.00
ML668 10266121817 120,000.00 120,000.00 09/12/96 08/12/11 179.34
ML668 10266121848 69,900.00 69,900.00 07/28/96 06/28/11 177.86
ML668 10266121870 80,100.00 80,012.98 07/28/96 06/28/11 177.86
ML668 10266121871 27,300.00 27,170.08 09/01/96 08/01/11 179.00
ML668 10266121986 28,000.00 28,000.00 09/12/96 08/12/11 179.34
ML668 10266121995 41,000.00 40,919.51 07/25/96 06/25/16 237.76
ML668 10266122003 38,601.00 38,601.00 09/09/96 08/09/11 179.24
ML668 10266122034 109,750.00 109,750.00 09/05/96 08/05/11 179.11
ML668 10266122176 44,400.00 44,400.00 08/17/96 07/17/11 178.49
ML668 10266122225 43,300.00 43,300.00 08/09/96 07/09/16 238.22
ML668 10266122229 22,000.00 21,973.44 08/22/96 07/22/16 238.65
ML668 10266122231 60,000.00 60,000.00 09/01/96 08/01/16 239.00
ML668 10266122247 72,000.00 71,812.53 09/01/96 08/01/11 179.00
ML668 10266122510 19,105.00 19,105.00 09/05/96 08/05/11 179.11
ML668 10266122622 63,000.00 63,000.00 08/12/96 07/12/26 358.32
ML668 10266122668 15,000.00 14,979.64 09/01/96 08/01/16 239.00
ML668 10266122671 84,000.00 84,000.00 09/01/96 08/01/16 239.00
ML668 10266122690 250,000.00 250,000.00 08/24/96 07/24/16 238.72
ML668 10266122697 51,000.00 51,000.00 09/07/96 08/07/11 179.18
ML668 10266122770 16,300.00 16,124.75 09/01/96 08/01/11 179.00
<CAPTION>
Original Current Scheduled
Date LTV Mortgage Payment
Sale ID Account Due Ratio Rate Int & Prin
- ---------------------------------------------------------------------------------------------
ML668 10266107708 08/17/96 80.0 13.300 1,400.82
ML668 10266108820 08/06/96 48.7 13.750 505.66
ML668 10266113117 09/08/96 69.4 9.650 1,053.30
ML668 10266113222 08/26/96 86.9 11.650 535.84
ML668 10266113556 09/01/96 79.3 13.850 756.59
ML668 10266113777 08/25/96 76.4 11.800 3,485.56
ML668 10266114349 09/09/96 84.8 10.950 918.10
ML668 10266114934 09/10/96 61.1 9.650 468.50
ML668 10266115017 09/07/96 80.0 12.450 459.38
ML668 10266115690 09/01/96 80.0 12.200 2,046.31
ML668 10266115774 08/02/96 84.9 12.700 326.99
ML668 10266115959 09/19/96 79.9 10.400 720.91
ML668 10266117173 09/05/96 77.1 10.850 1,814.26
ML668 10266117186 09/24/96 84.9 12.700 266.55
ML668 10266117228 08/19/96 85.7 11.750 908.47
ML668 10266118229 08/26/96 83.1 11.750 556.54
ML668 10266118355 09/14/96 75.0 10.750 1,256.35
ML668 10266118595 09/12/96 89.9 11.990 1,065.87
ML668 10266118705 09/12/96 89.5 11.350 544.58
ML668 10266118844 09/08/96 79.9 13.400 390.06
ML668 10266119162 08/25/96 79.9 10.700 725.19
ML668 10266119682 09/12/96 73.2 10.500 503.11
ML668 10266119913 09/01/96 74.9 11.850 161.27
ML668 10266120059 09/06/96 90.0 12.800 343.54
ML668 10266120157 08/26/96 84.8 13.050 2,141.96
ML668 10266120191 08/25/96 70.0 10.750 1,862.30
ML668 10266120223 09/14/96 75.0 13.990 598.98
ML668 10266120417 09/05/96 90.0 11.250 255.44
ML668 10266120676 09/15/96 84.7 9.500 1,346.93
ML668 10266120686 09/01/96 62.0 11.250 443.65
ML668 10266120866 10/01/96 68.9 9.250 3,087.58
ML668 10266120917 09/09/96 80.0 9.350 1,195.10
ML668 10266120937 09/23/96 90.0 12.350 306.13
ML668 10266120952 09/25/96 70.0 9.250 281.60
ML668 10266120968 09/02/96 52.6 10.750 933.48
ML668 10266121136 09/15/96 89.7 11.400 348.55
ML668 10266121154 09/05/96 88.0 12.350 256.78
ML668 10266121259 09/01/96 74.9 11.990 1,097.09
ML668 10266121288 09/01/96 84.9 12.700 211.04
ML668 10266121476 09/01/96 85.1 12.700 334.51
ML668 10266121596 08/12/96 90.0 10.750 756.12
ML668 10266121716 10/01/96 80.0 13.490 494.48
ML668 10266121817 09/12/96 75.0 10.990 1,141.88
ML668 10266121848 08/28/96 63.6 10.500 639.40
ML668 10266121870 09/28/96 90.0 11.150 771.90
ML668 10266121871 10/01/96 65.0 10.500 249.72
ML668 10266121986 09/12/96 90.0 11.000 318.25
ML668 10266121995 09/25/96 84.9 10.250 402.47
ML668 10266122003 09/09/96 70.8 12.250 404.50
ML668 10266122034 09/05/96 69.7 12.050 1,320.72
ML668 10266122176 09/17/96 89.9 12.400 470.42
ML668 10266122225 09/09/96 89.9 11.740 468.95
ML668 10266122229 09/22/96 43.1 9.740 208.53
ML668 10266122231 09/01/96 68.1 10.250 588.99
ML668 10266122247 10/01/96 78.2 9.650 758.37
ML668 10266122510 09/05/96 89.8 12.100 197.99
ML668 10266122622 08/12/96 70.0 10.750 588.09
ML668 10266122668 10/01/96 80.4 10.490 149.66
ML668 10266122671 09/01/96 80.0 9.990 810.06
ML668 10266122690 09/24/96 60.0 11.750 2,709.27
ML668 10266122697 09/07/96 84.5 12.500 628.59
ML668 10266122770 10/01/96 72.1 12.450 173.33
</TABLE>
<PAGE>
Alliance Funding Company Page 22 9/16/96
A division of Superior Bank FSB
Sale Schedule
1996-3 Class 1 - Initial Pool of Fixed Rate Mortgages - Settlement 9/23/96
<TABLE>
<CAPTION>
Zip
Sale ID Account Name Address City State Code
- -----------------------------------------------------------------------------------------------------------------------------
<C> <C> <S> <C> <C> <C> <C>
ML668 10266122840 HEFTRIG RAYMOND J 427 EAST WISE ROAD SCHAUMBURG IL 60193
ML668 10266122922 BRADFORD JOHN D 17248 110TH AVE SE YELM WA 98597
ML668 10266122968 SLOWICK MITCHELL A 37 FOSTER ROAD SOUTH WINDSOR CT 06074
ML668 10266123061 DESETA NICK E 326 NORTH GARFIELD ST YORK PA 17404
ML668 10266123080 BLEDSOE DENNIS JAY 1556 SOUTH 350 EAST KAYSVILLE UT 84037
ML668 10266123180 DEEGAN JOHN THOMAS 13417 FELLRATH TAYLOR MI 48180
ML668 10266123185 OLEARY TIMOTHY 3700 N PLAINFIELD CHICAGO IL 60634
ML668 10266123190 BUSCH CHARLES L JR 12007 BLUHILL ROAD WHEATON MD 20902
ML668 10266123303 LEACH DARNELL 1301 MERGANSER COURT UPPER MARLBORO MD 20772
ML668 10266123344 HOSEY BILLIE M 501 MORGAN STREET YORKVILLE IL 60560
ML668 10266123385 HARTMAN WILLIAM C 1820 BUCK ROAD FEASTERVILLE PA 19053
ML668 10266123398 GENNELLO BRIAN 203 DETWEILER ROAD MANSFIELD PA 16933
ML668 10266123436 HAMMONDS JAMES N ROUTE 2 BOX 366 RED SPRINGS NC 28377
ML668 10266123529 GREY JOHN J 291 BUTTERNUT LANE BEREA OH 44017
ML668 10266123536 SHAMBLIN GERALD B 1427 LEROY FERNDALE MI 48220
ML668 10266123540 MCKEE BILLIE E 7236 SOUTH CRANDON CHICAGO IL 60649
ML668 10266123636 JORDAN DOUGLAS P 3911 LANCASTER DRIVE SARASOTA FL 34241
ML668 10266123719 HOBERG CHARLES D 1842 RIDGEVIEW DRIVE WICKLIFFE OH 44092
ML668 10266123865 ANDERSON ERIC JOHN 317 WEST 930 NORTH SUNSET UT 84015
ML668 10266123880 OCONNOR THOMAS P 3651 WEST 113TH STREET CHICAGO IL 60655
ML668 10266124047 PLUMMER-WILLIAMS MARY P 1513 SOUTH YANK STREET LAKEWOOD CO 80228
ML668 10266124078 PETERS LINCOLN L 1457 EAST 3045 SOUTH SALT LAKE CITY UT 84106
ML668 10266124086 ADAMS DONALD M 5205 N WESTWOOD DRIVE MCHENRY IL 60050
ML668 10266124132 RUDE JEFFREY D 14 BRIDGE STREET COLCHESTER CT 06415
ML668 10266124200 STOVER JR MARK C 3165 WARREN LANE EL DORADO HILLS CA 95762
ML668 10266124236 BALLARD WILLIE C SR 504 HABERSHAM ROAD HIGH POINT NC 27260
ML668 10266124245 DEEN DARRIN L 125 DOLOMITE DRIVE COLORADO SPRINGS CO 80919
ML668 10266124271 NEWLAND CAROL J 36555 VALLEYVIEW DRIVE EASTLAKE OH 44095
ML668 10266124318 RUSSO RALPH J 1477 5TH COURT STAYTON OR 97383
ML668 10266124434 HAMBLET CHERYL 2038 EAST 73RD STREET CHICAGO IL 60649
ML668 10266124435 JOHNSON JAMES 7318 S WABASH CHICAGO IL 60619
ML668 10266124602 WHITE THOMAS L 11330 BAKER ROAD KEYMAR MD 21757
ML668 10266124632 JACOBSON RICHARD L 1875 CAPITOL ST SE SALEM OR 97302
ML668 10266124734 DEXTER MARK W 331 PINEAPPLE STREET TARPON SPRINGS FL 34689
ML668 10266124739 FISHER MYRON E 16 CREST ROAD HAZLETON PA 18201
ML668 10266124751 CARSON ROBERT H 339 SOUTH 320 WEST TOOELE UT 84074
ML668 10266124813 MILLER KATHRYN H 5485 SLICKROCK DRIVE COLORADO SPRINGS CO 80918
ML668 10266124828 BARNAK GREGORY H 28 ROCKWELL ROAD BETHEL CT 06801
ML668 10266124836 FRADENBUR ANA SONIA MUSTO 2222 KINGFISH ROAD NAPLES FL 33962
ML668 10266124842 ABBOTT WILLIAM J 105 NORTH WAY CAMILLUS NY 13031
ML668 10266124859 VANDERFORD JOHN W 500 EDGEHILL DRIVE PROVIDENCE UT 84332
ML668 10266124864 MONGEON ALAIN J 3351 MOOSE RIVER ROAD BOONVILLE NY 13309
ML668 10266124868 STINSON JONI L 209 W ORMAN AVE PUEBLO CO 81004
ML668 10266124874 KHALIFA STEPHANIE 1727-1731 E 13TH STREET TUCSON AZ 85719
ML668 10266124875 ZACAPALA DAVID 1611 NORTH 37TH DRIVE PHOENIX AZ 85009
ML668 10266124914 CARMANY ELROY JR 1 RR - BOX 403 MARKLEVILLE IN 46056
ML668 10266124929 MILLER VICTORIA 25 CASTLEBAR CIRCLE FORT MYERS FL 33905
ML668 10266124956 DONOFRIO RINO 7924 ZIEGLER TAYLOR MI 48180
ML668 10266124986 MURDOCK MARSHALL THOMAS 1048 SOUTH 500 WEST OREM UT 84058
ML668 10266124991 MURPHY GEORGE J 886 CLARKE STREET BRIDGEPORT CT 06606
ML668 10266125021 BREEZE MARK R 5768 WEST 6200 SOUTH SALT LAKE CITY UT 84118
ML668 10266125096 DEMKO JEROME 23664 W. KURT RD. CHANNAHON IL 60410
ML668 10266125118 RIVANO GARY 107 PARIS COURT WEST ISLIP NY 11795
ML668 10266125177 BOYER NICOLE D RD 1 BOX 1210 TAMAQUA PA 18252
ML668 10266125272 PAOLINO FRANK 342 PITTSBURGH AVENUE MASSAPEQUA PARK NY 11762
ML668 10266125286 WALSH WILLIAM G 3477 RD 3 NYS ROUTE 64 CANANDAIGUA NY 14424
ML668 10266125352 LOPORCHIO JOSEPH 31 MANOR HILLS DRIVE MANORVILLE NY 11949
ML668 10266125403 DORMAN ARTHUR G 56 SULLIVAN DRIVE JERICHO NY 11753
ML668 10266125405 HAGER TIM P 985 E BRIARWOOD CIRCLE SOUTH LITTLETON CO 80122
ML668 10266125417 SCHREINER PATRICK M 578 ROSE ST NE SALEM OR 97301
ML668 10266125450 CORIC MARKO 1111 POPLARWOOD DRIVE CALIFORNIA MD 20619
ML668 10266125558 DAVARASHVILI NADEZHDA 96-24 72ND AVENUE FOREST HILLS NY 11375
<CAPTION>
Principal Cut-off Date First
Balance at Principal Payment Maturity Rem
Sale ID Account Origination Balance Date Date Term
- ---------------------------------------------------------------------------------------------------------------------
<C> <C> <S> <C> <C> <C> <C>
ML668 10266122840 203,000.00 202,958.21 08/19/96 07/19/26 358.55
ML668 10266122922 12,122.00 12,122.00 08/25/96 07/25/11 178.75
ML668 10266122968 21,000.00 21,000.00 09/13/96 08/13/11 179.38
ML668 10266123061 57,200.00 57,200.00 09/07/96 08/07/11 179.18
ML668 10266123080 17,500.00 17,464.19 08/22/96 07/22/11 178.65
ML668 10266123180 44,200.00 44,200.00 09/01/96 08/01/16 239.00
ML668 10266123185 132,000.00 131,741.91 08/26/96 07/26/16 238.78
ML668 10266123190 20,000.00 20,000.00 09/01/96 08/01/11 179.00
ML668 10266123303 37,000.00 37,000.00 09/09/96 08/09/11 179.24
ML668 10266123344 30,000.00 30,000.00 08/24/96 07/24/16 238.72
ML668 10266123385 16,798.00 16,798.00 09/01/96 08/01/11 179.00
ML668 10266123398 38,000.00 38,000.00 09/05/96 08/05/11 179.11
ML668 10266123436 38,200.00 38,200.00 09/07/96 08/07/11 179.18
ML668 10266123529 100,800.00 100,800.00 08/26/96 07/26/11 178.78
ML668 10266123536 68,000.00 68,000.00 09/01/96 08/01/26 359.00
ML668 10266123540 110,200.00 110,200.00 09/01/96 08/01/26 359.00
ML668 10266123636 66,400.00 66,400.00 09/12/96 08/12/11 179.34
ML668 10266123719 75,000.00 75,000.00 08/26/96 07/26/16 238.78
ML668 10266123865 21,500.00 21,268.87 08/23/96 07/23/11 178.68
ML668 10266123880 21,000.00 20,979.42 08/26/96 07/26/11 178.78
ML668 10266124047 110,500.00 110,500.00 08/26/96 07/26/11 178.78
ML668 10266124078 39,684.00 39,684.00 09/12/96 08/12/11 179.34
ML668 10266124086 95,000.00 95,000.00 08/26/96 07/26/11 178.78
ML668 10266124132 25,750.00 25,750.00 09/12/96 08/12/11 179.34
ML668 10266124200 66,000.00 66,000.00 08/23/96 07/23/11 178.68
ML668 10266124236 53,900.00 53,900.00 09/14/96 08/14/11 179.41
ML668 10266124245 21,900.00 21,900.00 09/06/96 08/06/16 239.15
ML668 10266124271 13,000.00 12,701.85 08/25/96 07/25/16 238.75
ML668 10266124318 25,594.00 25,594.00 09/12/96 08/12/11 179.34
ML668 10266124434 47,700.00 47,468.31 09/01/96 08/01/11 179.00
ML668 10266124435 71,000.00 71,000.00 09/01/96 08/01/11 179.00
ML668 10266124602 40,600.00 40,600.00 09/12/96 08/12/11 179.34
ML668 10266124632 17,900.00 17,900.00 09/12/96 08/12/11 179.34
ML668 10266124734 14,500.00 14,500.00 09/07/96 08/07/11 179.18
ML668 10266124739 102,000.00 102,000.00 09/12/96 08/12/06 119.34
ML668 10266124751 16,200.00 16,200.00 09/05/96 08/05/11 179.11
ML668 10266124813 22,600.00 22,600.00 09/09/96 08/09/16 239.24
ML668 10266124828 41,800.00 41,800.00 09/02/96 08/02/16 239.01
ML668 10266124836 125,000.00 125,000.00 09/07/96 08/07/26 359.18
ML668 10266124842 26,400.00 26,400.00 09/07/96 08/07/11 179.18
ML668 10266124859 58,000.00 58,000.00 09/13/96 08/13/11 179.38
ML668 10266124864 82,400.00 82,400.00 09/05/96 08/05/26 359.11
ML668 10266124868 25,000.00 25,000.00 09/09/96 08/09/11 179.24
ML668 10266124874 77,000.00 77,000.00 08/16/96 07/16/11 178.45
ML668 10266124875 24,000.00 23,886.50 09/01/96 08/01/11 179.00
ML668 10266124914 26,000.00 26,000.00 09/01/96 08/01/11 179.00
ML668 10266124929 43,350.00 43,350.00 09/12/96 08/12/11 179.34
ML668 10266124956 69,300.00 69,300.00 09/01/96 08/01/26 359.00
ML668 10266124986 26,392.00 26,325.54 09/02/96 08/02/11 179.01
ML668 10266124991 35,000.00 35,000.00 09/05/96 08/05/11 179.11
ML668 10266125021 11,411.00 11,333.31 08/19/96 07/19/11 178.55
ML668 10266125096 60,000.00 59,889.07 09/01/96 08/01/16 239.00
ML668 10266125118 28,200.00 28,200.00 09/07/96 08/07/11 179.18
ML668 10266125177 28,500.00 28,364.18 08/24/96 07/24/06 118.72
ML668 10266125272 17,500.00 17,500.00 09/12/96 08/12/06 119.34
ML668 10266125286 38,600.00 38,600.00 09/12/96 08/12/16 239.34
ML668 10266125352 47,000.00 47,000.00 09/07/96 08/07/11 179.18
ML668 10266125403 30,000.00 30,000.00 09/13/96 08/13/06 119.38
ML668 10266125405 112,000.00 112,000.00 09/12/96 08/12/11 179.34
ML668 10266125417 15,000.00 15,000.00 09/12/96 08/12/11 179.34
ML668 10266125450 20,000.00 20,000.00 09/13/96 08/13/11 179.38
ML668 10266125558 160,800.00 160,800.00 08/26/96 07/26/26 358.78
<CAPTION>
Original Current Scheduled
Date LTV Mortgage Payment
Sale ID Account Due Ratio Rate Int & Prin
- ---------------------------------------------------------------------------------------------
ML668 10266122840 09/19/96 78.0 10.750 1,894.97
ML668 10266122922 08/25/96 89.1 12.650 150.59
ML668 10266122968 09/13/96 85.2 12.990 265.56
ML668 10266123061 09/07/96 80.0 10.250 512.57
ML668 10266123080 09/22/96 84.4 11.650 175.31
ML668 10266123180 09/01/96 85.0 11.500 471.36
ML668 10266123185 09/26/96 80.0 10.250 1,295.77
ML668 10266123190 09/01/96 89.6 12.000 240.03
ML668 10266123303 09/09/96 89.1 12.000 444.06
ML668 10266123344 09/24/96 70.0 10.240 294.29
ML668 10266123385 10/01/96 80.1 13.250 189.11
ML668 10266123398 09/05/96 73.0 12.390 402.32
ML668 10266123436 09/07/96 74.9 10.700 427.01
ML668 10266123529 09/26/96 90.0 11.240 978.27
ML668 10266123536 09/01/96 80.0 10.490 621.51
ML668 10266123540 09/01/96 77.6 10.250 987.50
ML668 10266123636 09/12/96 80.0 9.950 580.26
ML668 10266123719 09/26/96 72.1 10.500 748.79
ML668 10266123865 09/23/96 81.8 13.950 253.90
ML668 10266123880 09/26/96 84.9 11.500 245.32
ML668 10266124047 08/26/96 85.0 10.250 990.19
ML668 10266124078 09/12/96 85.0 12.990 438.67
ML668 10266124086 08/26/96 70.3 10.750 886.81
ML668 10266124132 09/12/96 89.9 11.650 303.27
ML668 10266124200 08/23/96 80.0 12.300 694.16
ML668 10266124236 09/14/96 84.8 9.950 471.02
ML668 10266124245 09/06/96 79.9 12.990 256.42
ML668 10266124271 11/25/96 10.1 10.990 134.10
ML668 10266124318 09/12/96 89.9 12.000 307.17
ML668 10266124434 10/01/96 45.4 10.250 519.91
ML668 10266124435 09/01/96 83.5 11.750 716.68
ML668 10266124602 09/12/96 80.0 10.750 455.10
ML668 10266124632 09/12/96 86.3 11.500 209.11
ML668 10266124734 09/07/96 72.1 12.750 181.08
ML668 10266124739 09/12/96 85.7 9.500 1,319.86
ML668 10266124751 09/05/96 78.9 13.990 215.63
ML668 10266124813 09/09/96 89.9 12.000 248.85
ML668 10266124828 09/02/96 89.9 12.900 486.74
ML668 10266124836 09/07/96 43.1 11.950 1,280.96
ML668 10266124842 09/07/96 89.9 12.050 317.69
ML668 10266124859 09/13/96 77.5 13.250 743.41
ML668 10266124864 09/05/96 80.0 13.800 963.31
ML668 10266124868 09/09/96 78.3 10.750 280.24
ML668 10266124874 09/16/96 70.0 11.340 753.14
ML668 10266124875 10/01/96 68.5 10.500 219.54
ML668 10266124914 09/01/96 84.7 12.990 328.79
ML668 10266124929 09/12/96 85.0 12.250 527.27
ML668 10266124956 09/01/96 90.0 11.500 686.27
ML668 10266124986 10/02/96 79.9 15.590 346.20
ML668 10266124991 09/05/96 75.1 13.750 460.25
ML668 10266125021 09/19/96 63.6 14.490 155.74
ML668 10266125096 10/01/96 48.0 9.000 539.84
ML668 10266125118 09/07/96 89.9 11.700 333.02
ML668 10266125177 09/24/96 85.0 10.890 390.82
ML668 10266125272 09/12/96 09.7 10.000 231.26
ML668 10266125286 09/12/96 89.9 11.500 411.64
ML668 10266125352 09/07/96 89.0 11.700 555.04
ML668 10266125403 09/13/96 73.2 11.250 417.51
ML668 10266125405 09/12/96 78.8 13.000 1,238.94
ML668 10266125417 09/12/96 83.2 11.000 170.49
ML668 10266125450 09/13/96 89.6 11.650 235.55
ML668 10266125558 08/26/96 80.0 13.800 1,879.85
</TABLE>
<PAGE>
Alliance Funding Company Page 23 9/16/96
A division of Superior Bank FSB
Sale Schedule
1996-3 Class 1 - Initial Pool of Fixed Rate Mortgages - Settlement 9/23/96
<TABLE>
<CAPTION>
Zip
Sale ID Account Name Address City State Code
- -----------------------------------------------------------------------------------------------------------------------------
<C> <C> <S> <C> <C> <C> <C>
ML668 10266125579 FOX ROY T 219 DUMONT ROAD WILMINGTON DE 19804
ML668 10266125602 HATZISTEFANOU JOHN 495 BELMIST COURT DUNEDIN FL 34698
ML668 10266125708 CHIANG YU-EN 8142 CRABAPPLE LANE GAITHERSBURG MD 20879
ML668 10266125710 REINEN JEFFREY W 18 GREENKNOLL DRIVE BROOKFIELD CT 06804
ML668 10266125728 ITZKOWITZ BARRY J 1111 HIDDEN LAKE DRIVE BUFFALO GROVE IL 60089
ML668 10266125757 PHILBIN PATRICIA 528 NORTH PAULINA CHICAGO IL 60622
ML668 10266125772 EVASHEVSKI MARION 1205 BROOKLYN AVE ANN ARBOR MI 48104
ML668 10266125825 PIETKA JEFFREY M 2402 GREAT OAKS DRIVE LINDENHURST IL 60046
ML668 10266125884 BORGMAN NORMAN E 172 EAST MIKADO DRIVE COLORADO SPRINGS CO 80919
ML668 10266125888 LEDEZMA ARTURO MEJIA 2628 REYNOLDS AVENUE NORTH LAS VEGAS NV 89030
ML668 10266125922 SMITH DARRYL C 5535 DEARBORN STREET DENVER CO 80239
ML668 10266126023 LEMONS STEVEN LYNN 630 WEST 200 SOUTH CLEARFIELD UT 84105
ML668 10266126107 LEWIS ELEANOR R 2408 MARLBOROUGH ROAD COLORADO SPRINGS CO 80909
ML668 10266126150 MCDONALD HUBERT 208 LANGDON STREET FAYETTEVILLE NC 28301
ML668 10266126159 BUSTAD RYAN W 660 S SIMLA DRIVE PUEBLO CO 81007
ML668 10266126274 WINKELSPECHT MICHAEL F 509 LAKE MEADE DR EAST BERLIN PA 17316
ML668 10266126313 YETTER BARRY LEE 7 SOUTH 4TH STREET STEELTON PA 17113
ML668 10266126370 OSNER SHARON M 4350 LONDON LANE COLORADO SPRINGS CO 80916
ML668 10266126390 FLORES ROSA L 2715 W. POTOMAC CHICAGO IL 60622
ML668 10266126444 MORRIS GEORGENA 4508 W CLEARVIEW DR BOISE ID 83703
ML668 10266126445 TRITTO STEVEN 117 BIRCH ACRES EAST STROUDSBURG PA 18301
ML668 10266126455 ROACH DELORES 604 KEYSTONE STREET GREENSBURG PA 15601
ML668 10266126486 GATTONI LUIS G 915 FIELD STREET LAKEWOOD CO 80215
ML668 10266126614 STRACHAN DUNCAN K 1601 WEST 400 SOUTH #45 SALT LAKE CITY UT 84104
ML668 10266126620 THOMPSON HARRY 1200 ARCH STREET NORRISTOWN PA 19401
ML668 10266126637 RICHARDSON DONNA S 7 HOLLY LANE ENFIELD CT 06082
ML668 10266126652 GUADAGNI JAMES E 2136 BRAMBLEWOOD DRIVE N CLEARWATER FL 34623
ML668 10266126717 RANDAZZO SALVATORE 162 FIRST STREET NEWBURGH NY 12550
ML668 10266126719 LAMBERT RAPHAEL 21475 MICHIGAN AVENUE PORT CHARLOTTE FL 33952
ML668 10266126771 LANTZ ROBERT P 1508 HOPEWELL AVENUE BALTIMORE MD 21221
ML668 10266126779 DURAN JUAN G 6825 OMAHA BLVD COLORADO SPRINGS CO 80915
ML668 10266126788 HUDSON THOMAS E 12 HARVARD ROAD GLEN BURNIE MD 21060
ML668 10266126795 BECHT HAROLD J 7660 IRVING STREET WESTMINSTER CO 80030
ML668 10266126912 YOUNGMAN SHARON L 7643 OAKHURST ROAD SEMINOLE FL 34646
ML668 10266127066 MITCHELL MARY LYNNE 768 SOUTH COLE COURT LAKEWOOD CO 80228
ML668 10266127115 HODGE JOHN ARTHUR 4940 BEECH STREET SHADY SIDE MD 20764
ML668 10266127147 CLARK JILL L 409 CARAMILLO ST E COLORADO SPRINGS CO 80907
ML668 10266127203 APODACA PATRICIA M 1840 JULIAN STREET DENVER CO 80204
ML668 10266127218 BARNES KEVIN V 4922 SOUTH BUSTER STREET SALT LAKE CITY UT 84118
ML668 10266127272 GOODPASTURE JOE D 1124 TUXEDO COURT CHARLOTTE NC 28211
ML668 10266127289 MILLER JED A 7773 STRAWBERRY DRIVE WEST JORDAN UT 84084
ML668 10266127357 AMER MOHAMMED E 1373 PARKERSVILLE ROAD KENNETT SQUARE PA 19348
ML668 10266127402 GROSS EARL B 713 CARROLL STREET BALTIMORE MD 21230
ML668 10266127553 HENDERSON CAROL J 2428 WEST PAULINE WAY WEST JORDAN UT 84088
ML668 10266127680 NEELEY GORDON ARIEL 1583 EAST GLEN ARBOR STREET SALT LAKE CITY UT 84105
ML668 10266127689 DUNWELL DON F 920 EAST ELLERBY AVENUE SALT LAKE CITY UT 84117
ML668 10266128095 DAVIS WILLIAM ROUTE 28A WEST SHOKAN NY 12494
ML668 10266128156 STONE DAVID P 6791 SOUTH 1775 EAST UINTAH UT 84405
-------------------------------------------
172 Sale Total
<CAPTION>
Principal Cut-off Date First
Balance at Principal Payment Maturity Rem
Sale ID Account Origination Balance Date Date Term
- ---------------------------------------------------------------------------------------------------------------------
<C> <C> <S> <C> <C> <C> <C>
ML668 10266125579 25,000.00 24,985.55 08/26/96 07/26/11 178.78
ML668 10266125602 30,300.00 30,300.00 09/13/96 08/13/11 179.38
ML668 10266125708 27,500.00 27,500.00 09/14/96 08/14/11 179.41
ML668 10266125710 52,000.00 52,000.00 09/01/96 08/01/11 179.00
ML668 10266125728 146,000.00 146,000.00 09/01/96 08/01/11 179.00
ML668 10266125757 37,000.00 36,907.26 09/01/96 08/01/11 179.00
ML668 10266125772 150,300.00 150,300.00 09/02/96 08/02/26 359.01
ML668 10266125825 19,000.00 18,674.82 09/01/96 08/01/11 179.00
ML668 10266125884 35,200.00 35,200.00 09/12/96 08/12/11 179.34
ML668 10266125888 15,582.00 15,582.00 09/01/96 08/01/11 179.00
ML668 10266125922 35,865.00 35,865.00 09/06/96 08/06/11 179.15
ML668 10266126023 24,000.00 24,000.00 09/01/96 08/01/16 239.00
ML668 10266126107 45,500.00 45,500.00 09/01/96 08/01/11 179.00
ML668 10266126150 40,500.00 40,500.00 09/07/96 08/07/16 239.18
ML668 10266126159 21,000.00 21,000.00 09/12/96 08/12/16 239.34
ML668 10266126274 44,400.00 44,400.00 09/07/96 08/07/16 239.18
ML668 10266126313 60,300.00 60,300.00 09/07/96 08/07/16 239.18
ML668 10266126370 22,000.00 22,000.00 09/13/96 08/13/11 179.38
ML668 10266126390 158,100.00 158,100.00 09/01/96 08/01/11 179.00
ML668 10266126444 19,659.00 19,659.00 09/01/96 08/01/11 179.00
ML668 10266126445 88,000.00 88,000.00 09/13/96 08/13/26 359.38
ML668 10266126455 70,400.00 70,400.00 09/13/96 08/13/16 239.38
ML668 10266126486 31,057.00 31,057.00 09/07/96 08/07/11 179.18
ML668 10266126614 30,975.00 30,975.00 09/06/96 08/06/11 179.15
ML668 10266126620 39,000.00 39,000.00 09/07/96 08/07/11 179.18
ML668 10266126637 65,000.00 65,000.00 09/14/96 08/14/11 179.41
ML668 10266126652 11,200.00 11,200.00 09/13/96 08/13/11 179.38
ML668 10266126717 76,900.00 76,900.00 09/05/96 08/05/11 179.11
ML668 10266126719 48,200.00 48,200.00 09/12/96 08/12/16 239.34
ML668 10266126771 73,350.00 73,350.00 09/13/96 08/13/26 359.38
ML668 10266126779 10,500.00 10,500.00 09/12/96 08/12/11 179.34
ML668 10266126788 15,000.00 15,000.00 09/08/96 08/08/11 179.21
ML668 10266126795 18,400.00 18,400.00 09/12/96 08/12/11 179.34
ML668 10266126912 170,000.00 170,000.00 09/12/96 08/12/16 239.34
ML668 10266127066 33,000.00 33,000.00 09/09/96 08/09/11 179.24
ML668 10266127115 21,100.00 21,100.00 09/09/96 08/09/11 179.24
ML668 10266127147 25,000.00 25,000.00 09/12/96 08/12/11 179.34
ML668 10266127203 108,000.00 108,000.00 09/06/96 08/06/26 359.15
ML668 10266127218 33,000.00 33,000.00 09/05/96 08/05/16 239.11
ML668 10266127272 53,134.00 53,134.00 09/12/96 08/12/11 179.34
ML668 10266127289 52,189.00 52,189.00 09/06/96 08/06/11 179.15
ML668 10266127357 76,096.00 76,096.00 09/13/96 08/13/11 179.38
ML668 10266127402 42,840.00 42,840.00 09/09/96 08/09/26 359.24
ML668 10266127553 16,529.00 16,529.00 09/01/96 08/01/11 179.00
ML668 10266127680 85,500.00 85,500.00 09/02/96 08/02/11 179.01
ML668 10266127689 38,700.00 38,700.00 09/01/96 08/01/11 179.00
ML668 10266128095 14,500.00 14,483.25 08/01/96 07/01/16 238.00
ML668 10266128156 39,000.00 39,000.00 09/06/96 08/06/11 179.15
--------------------------------------------------------- -------------
172 10,412,163.00 10,406,982.18 225.30
<CAPTION>
Original Current Scheduled
Date LTV Mortgage Payment
Sale ID Account Due Ratio Rate Int & Prin
- ---------------------------------------------------------------------------------------------
ML668 10266125579 09/26/96 84.4 12.900 314.67
ML668 10266125602 09/13/96 84.9 12.500 373.45
ML668 10266125708 09/14/96 74.2 12.250 334.48
ML668 10266125710 09/01/96 89.8 11.700 614.09
ML668 10266125728 09/01/96 47.8 9.740 1,253.29
ML668 10266125757 10/01/96 38.9 11.750 438.13
ML668 10266125772 09/02/96 90.0 11.500 1,488.41
ML668 10266125825 11/01/96 87.9 11.000 215.95
ML668 10266125884 09/12/96 87.4 11.750 416.81
ML668 10266125888 09/01/96 70.0 12.490 191.95
ML668 10266125922 09/06/96 85.0 12.750 389.74
ML668 10266126023 09/01/96 87.7 12.600 274.37
ML668 10266126107 09/01/96 35.0 10.900 514.30
ML668 10266126150 09/07/96 90.0 11.150 422.18
ML668 10266126159 09/12/96 82.7 10.500 209.66
ML668 10266126274 09/07/96 89.9 11.750 481.17
ML668 10266126313 09/07/96 90.0 10.750 612.18
ML668 10266126370 09/13/96 75.3 14.500 300.41
ML668 10266126390 09/01/96 85.0 10.650 1,463.96
ML668 10266126444 09/01/96 85.0 11.500 229.65
ML668 10266126445 09/13/96 85.4 10.200 785.30
ML668 10266126455 09/13/96 80.0 13.700 860.14
ML668 10266126486 09/07/96 90.0 12.250 377.75
ML668 10266126614 09/06/96 75.0 9.750 266.12
ML668 10266126620 09/07/96 50.0 11.750 393.67
ML668 10266126637 09/14/96 84.1 14.190 779.95
ML668 10266126652 09/13/96 66.5 10.700 125.20
ML668 10266126717 09/05/96 69.9 10.950 729.43
ML668 10266126719 09/12/96 79.9 10.700 487.71
ML668 10266126771 09/13/96 90.0 11.450 723.58
ML668 10266126779 09/12/96 62.6 11.250 121.00
ML668 10266126788 09/08/96 90.0 11.950 179.54
ML668 10266126795 09/12/96 90.0 12.000 220.83
ML668 10266126912 09/12/96 57.6 10.700 1,720.15
ML668 10266127066 09/09/96 78.7 14.000 391.01
ML668 10266127115 09/09/96 79.9 13.990 280.86
ML668 10266127147 09/12/96 89.4 11.750 252.35
ML668 10266127203 09/06/96 90.0 11.750 1,090.16
ML668 10266127218 09/05/96 79.9 13.500 398.43
ML668 10266127272 09/12/96 90.0 11.650 532.27
ML668 10266127289 09/06/96 84.9 12.990 576.91
ML668 10266127357 09/13/96 80.7 11.750 768.12
ML668 10266127402 09/09/96 70.0 9.950 374.37
ML668 10266127553 09/01/96 79.8 15.140 232.92
ML668 10266127680 09/02/96 86.5 12.900 939.12
ML668 10266127689 09/01/96 83.6 13.700 449.37
ML668 10266128095 09/01/96 70.0 11.000 149.67
ML668 10266128156 09/06/96 79.7 12.650 484.50
------------------ -------------------------------------------
172 77.1 11.417 108,875.88
</TABLE>
<PAGE>
Alliance Funding Company Page 24 9/16/96
A division of Superior Bank FSB
Sale Schedule
1996-3 Class 1 - Initial Pool of Fixed Rate Mortgages - Settlement 9/23/96
<TABLE>
<CAPTION>
Zip
Sale ID Account Name Address City State Code
- -----------------------------------------------------------------------------------------------------------------------------
<C> <C> <S> <C> <C> <C> <C>
ML669 10266113134 SCOTT VINCENT C 1136 WASHINGTON STREET DENVER CO 80203
ML669 10266115579 BECKMAN THEODORE 6914 W WESCOTT DRIVE GLENDALE AZ 85308
ML669 10266115808 COX JOHN B 409 FIELDSTONE DRIVE MONROEVILLE PA 15146
ML669 10266117893 KRAMER STEVEN D 1836 ORCHARD STREET DES PLAINES IL 60018
ML669 10266117992 PLANT JOHN 93 OCEAN AVENUE AMITYVILLE NY 11701
ML669 10266118323 JORDAN DONALD L 430 MEETING HOUSE ROAD MAPLE GLEN PA 19002
ML669 10266118392 MABILLE CARMEN 256 LINCOLN BOULEVARD EMERSON NJ 07630
ML669 10266118590 GIFFORD JACK 3734 E RANCHO DRIVE PARADISE VALLEY AZ 85253
ML669 10266118732 HILL MILDRED 31-30 103RD STREET EAST ELMHURST NY 11369
ML669 10266118760 RENIER JOSEPH M 701 N CIRCLE D WAY TUCSON AZ 85748
ML669 10266118992 JORDAN CHARLES R 619 VERNON STREET MEDIA PA 19063
ML669 10266119078 CORTEZ MANUEL 598 VERDUCCI DRIVE DALY CITY CA 94015
ML669 10266119282 ZAZUETA PAULA S 1636 E WHITTON AVENUE PHOENIX AZ 85016
ML669 10266119466 WALDEN JOHN W 4152 N 49TH WAY PHOENIX AZ 85018
ML669 10266119591 TAUBER REFAEL 3733 NORTH TORREY PINES DRIVE LAS VEGAS NV 89108
ML669 10266119599 LYON COREY D 4621 NORTH 89TH DRIVE PHOENIX AZ 85037
ML669 10266119602 FLEISHER RODNEY J 15 CHESNEY COURT SPARKS NV 89434
ML669 10266119649 SCHWARTZ WILLIAM B 334 WEST 1ST STREET WEST ISLIP NY 11795
ML669 10266119940 VOGT DENNIS G 206 WEAVER CARY IL 60013
ML669 10266120218 SOUSA DONALD E 3111 NORMIL TERRACE MEDFORD OR 97504
ML669 10266120291 ANDERSON GLORIA 241 JOLIET ST WEST CHICAGO IL 60185
ML669 10266120407 BURLEIGH LINDA L 2151 W ORANGEWOOD AVE PHOENIX AZ 85021
ML669 10266120555 HARKIN PATRICIA A 7 WOODCREEK ROAD BROOKFIELD CT 06804
ML669 10266120996 PLANCON EDWARD F JR 5 KELSEYTOWN ROAD KILLINGWORTH CT 06419
ML669 10266121070 HULL ROBERT 987 ORLANDO STREET KINGSTON NY 12401
ML669 10266121093 BAUM BRYAN 4315 SOUTH 4850 WEST WEST VALLEY CITY UT 84120
ML669 10266121114 GARZA JOSEPH R 2002 NE 86TH CIRCLE VANCOUVER WA 98665
ML669 10266121608 WILLIAMSON DONALD 3031 PASADA ROAD CAMERON PARK CA 95682
ML669 10266121631 SATCHELL GLORIA D 6702 ELDRIDGE STREET LANDOVER MD 20784
ML669 10266121717 COPENHAUER KRISTY L 2120 N. MARKET KOKOMO IN 46901
ML669 10266121781 CLEMENS THOMAS E 10015 E VIA DEL FANDANGO TUCSON AZ 85747
ML669 10266121825 QUINTANA EDWARD R 20 REED PLACE LONGMONT CO 80501
ML669 10266121942 LEONARD CHARLES H 120 ALBA STREET E VENICE FL 34285
ML669 10266121949 KLEMENT RICK L 2852 S CHEROKEE ST ENGLEWOOD CO 80110
ML669 10266122218 WILLIAMS THOMAS WAYNE 5964 W LONE CACTUS DR GLENDALE AZ 85308
ML669 10266122566 ANDERSON VIOLA V 1416 LINCOLN PLACE BROOKLYN NY 11213
ML669 10266122653 DOMAGATA ROBERT P 28505 LITTLE BIG HORN DRIVE EVERGREEN CO 80439
ML669 10266122864 HUTCHISON JANE ANNE 1527 NORTH ROYER STREET COLORADO SPRINGS CO 80907
ML669 10266123088 LEUNING ELDON L 19222 89TH AVENUE NORTHEAST BOTHELL WA 98011
ML669 10266123090 JORDAN GLENN 5133 W MONTE CRISTO AVE GLENDALE AZ 85306
ML669 10266123103 GOLDEN MATTHEW C 6849 E PASADENA AVENUE PARADISE VALLEY AZ 85253
ML669 10266123166 HUIE BING NON 205 SW JEFFERSON STREET SHERIDAN OR 97378
ML669 10266123534 CROSS CAROL J 1525 RIDGELAND AVENUE BERWYN IL 60402
ML669 10266123559 DAVIS RICHARD E JR 3305 W PIERSON ROAD FLINT MI 48504
ML669 10266123619 KELLY HENRY F 2500 MONACO PARKWAY DENVER CO 80207
ML669 10266123671 MARTINEZ ONEIDA 1894 DALY AVENUE BRONX NY 10460
ML669 10266123691 BLANCATO JR ERNEST GUY 7014 87TH STREET SW TACOMA WA 98499
ML669 10266123742 ROSELLI FRED D 27 PETTIT AVENUE SOUTH RIVER NJ 08882
ML669 10266123763 MUNROE DRUSILLA A 242 HIGH STREET NAUGATUCK CT 06770
ML669 10266123851 HIATT ROBERT E 232 LONGFELLOW DRIVE COLORADO SPRINGS CO 80910
ML669 10266123885 CLARK GENEVA E 3045 WEST LEXINGTON CHICAGO IL 60612
ML669 10266124011 CIARAMELLA ANN 45 PENNSYLVANIA AVENUE EAST HAVEN CT 06512
ML669 10266124060 TREVORROW EDWIN G 654 MALIBU DRIVE SE LACEY WA 98503
ML669 10266124072 WILLIAMS MICHAEL LEE 2459 EAST NANTUCKET DRIVE SALT LAKE CITY UT 84121
ML669 10266124184 TODARO ANGELO 234 MARK TWAIN LANE ROTONDA WEST FL 33947
ML669 10266124198 SIMOSKEVICH CYNTHIA FIRST STREET MONROE NY 10950
ML669 10266124293 PERADOZA SHEILA A 4203 HANWELL ROAD RANDALLSTOWN MD 21133
ML669 10266124315 MILLER ELMER M 4478 FLEMING ROAD HORNTOWN VA 23395
ML669 10266124520 PEDDICORD KIRK 3429 SE JOHNSON CREEK BLVD PORTLAND OR 97222
ML669 10266124630 THOMPSON EDWARD D 7020 WEST 28TH PLACE WHEATRIDGE CO 80215
ML669 10266124774 COTTON KAREN S 55 PHARR ROAD #206B ATLANTA GA 30305
ML669 10266124804 TRUJILLO ALFREDO H 16252 NORTH 38TH WAY PHOENIX AZ 85032
<CAPTION>
Principal Cut-off Date First
Balance at Principal Payment Maturity Rem
Sale ID Account Origination Balance Date Date Term
- ---------------------------------------------------------------------------------------------------------------------
<C> <C> <S> <C> <C> <C> <C>
ML669 10266113134 18,000.00 18,000.00 07/19/96 06/19/11 177.57
ML669 10266115579 15,000.00 14,906.67 07/14/96 06/14/11 177.40
ML669 10266115808 76,500.00 76,500.00 09/15/96 08/15/26 359.44
ML669 10266117893 92,000.00 92,000.00 07/12/96 06/12/16 237.34
ML669 10266117992 189,750.00 189,750.00 09/21/96 08/21/11 179.64
ML669 10266118323 189,000.00 189,000.00 09/15/96 08/15/11 179.44
ML669 10266118392 24,500.00 24,215.94 07/28/96 06/28/06 117.86
ML669 10266118590 124,332.00 124,332.00 08/01/96 07/01/11 178.00
ML669 10266118732 76,000.00 76,000.00 09/16/96 08/16/16 239.47
ML669 10266118760 25,000.00 25,000.00 09/01/96 08/01/11 179.00
ML669 10266118992 40,000.00 39,908.85 09/01/96 08/01/11 179.00
ML669 10266119078 30,984.00 30,984.00 08/10/96 07/10/11 178.26
ML669 10266119282 17,508.00 17,508.00 09/01/96 08/01/11 179.00
ML669 10266119466 432,800.00 432,491.37 07/26/96 06/26/11 177.80
ML669 10266119591 35,000.00 34,961.95 09/01/96 08/01/11 179.00
ML669 10266119599 15,000.00 15,000.00 09/01/96 08/01/11 179.00
ML669 10266119602 19,000.00 18,936.50 07/14/96 06/14/11 177.40
ML669 10266119649 32,000.00 32,000.00 08/02/96 07/02/11 177.99
ML669 10266119940 112,500.00 112,500.00 07/10/96 06/10/26 357.27
ML669 10266120218 203,150.00 203,150.00 07/28/96 06/28/11 177.86
ML669 10266120291 60,000.00 60,000.00 09/16/96 08/16/16 239.47
ML669 10266120407 17,000.00 17,000.00 08/03/96 07/03/11 178.03
ML669 10266120555 160,800.00 160,577.86 08/26/96 07/26/11 178.78
ML669 10266120996 32,500.00 32,450.12 08/29/96 07/29/11 178.88
ML669 10266121070 50,000.00 49,769.59 07/26/96 06/26/16 237.80
ML669 10266121093 50,000.00 50,000.00 09/02/96 08/02/11 179.01
ML669 10266121114 20,289.00 20,289.00 09/01/96 08/01/11 179.00
ML669 10266121608 59,500.00 59,479.16 07/27/96 06/27/11 177.83
ML669 10266121631 104,000.00 104,000.00 09/15/96 08/15/11 179.44
ML669 10266121717 35,200.00 35,200.00 09/05/96 08/05/26 359.11
ML669 10266121781 16,050.00 16,050.00 08/24/96 07/24/11 178.72
ML669 10266121825 37,000.00 37,000.00 09/08/96 08/08/11 179.21
ML669 10266121942 43,000.00 43,000.00 09/19/96 08/19/11 179.57
ML669 10266121949 20,000.00 19,949.47 09/01/96 08/01/11 179.00
ML669 10266122218 21,500.00 21,500.00 09/01/96 08/01/11 179.00
ML669 10266122566 111,900.00 111,900.00 09/05/96 08/05/11 179.11
ML669 10266122653 36,000.00 36,000.00 09/14/96 08/14/11 179.41
ML669 10266122864 45,000.00 45,000.00 09/16/96 08/16/11 179.47
ML669 10266123088 43,912.00 43,912.00 09/05/96 08/05/11 179.11
ML669 10266123090 31,500.00 31,500.00 09/01/96 08/01/11 179.00
ML669 10266123103 43,790.00 43,790.00 09/01/96 08/01/11 179.00
ML669 10266123166 87,200.00 87,200.00 09/16/96 08/16/11 179.47
ML669 10266123534 87,500.00 87,500.00 09/01/96 08/01/16 239.00
ML669 10266123559 27,500.00 27,500.00 09/09/96 08/09/16 239.24
ML669 10266123619 184,000.00 184,000.00 09/13/96 08/13/11 179.38
ML669 10266123671 157,500.00 157,500.00 08/16/96 07/16/26 358.45
ML669 10266123691 23,650.00 23,650.00 09/01/96 08/01/11 179.00
ML669 10266123742 184,000.00 184,000.00 09/19/96 08/19/11 179.57
ML669 10266123763 75,000.00 75,000.00 09/05/96 08/05/11 179.11
ML669 10266123851 68,000.00 68,000.00 09/14/96 08/14/26 359.41
ML669 10266123885 39,800.00 39,800.00 09/05/96 08/05/11 179.11
ML669 10266124011 40,000.00 39,904.00 09/02/96 08/02/11 179.01
ML669 10266124060 13,494.00 13,494.00 09/01/96 08/01/11 179.00
ML669 10266124072 22,700.00 22,700.00 09/14/96 08/14/11 179.41
ML669 10266124184 86,400.00 86,400.00 09/15/96 08/15/16 239.44
ML669 10266124198 52,000.00 52,000.00 09/12/96 08/12/11 179.34
ML669 10266124293 40,200.00 40,200.00 09/16/96 08/16/11 179.47
ML669 10266124315 45,600.00 45,600.00 09/08/96 08/08/11 179.21
ML669 10266124520 16,555.00 16,555.00 09/01/96 08/01/11 179.00
ML669 10266124630 120,750.00 120,750.00 09/13/96 08/13/26 359.38
ML669 10266124774 27,300.00 27,292.51 08/10/96 07/10/11 178.26
ML669 10266124804 133,039.00 133,039.00 08/26/96 07/26/26 358.78
<CAPTION>
Original Current Scheduled
Date LTV Mortgage Payment
Sale ID Account Due Ratio Rate Int & Prin
- ---------------------------------------------------------------------------------------------
ML669 10266113134 09/19/96 75.2 12.950 227.15
ML669 10266115579 09/14/96 73.7 15.190 211.89
ML669 10266115808 09/15/96 85.9 10.990 727.95
ML669 10266117893 08/12/96 80.0 13.490 1,110.12
ML669 10266117992 09/21/96 75.0 11.990 1,950.33
ML669 10266118323 09/15/96 74.1 11.990 1,942.62
ML669 10266118392 09/28/96 90.0 11.400 343.06
ML669 10266118590 09/01/96 74.8 11.850 1,264.56
ML669 10266118732 09/16/96 35.3 9.000 683.79
ML669 10266118760 09/01/96 72.8 13.990 332.77
ML669 10266118992 10/01/96 80.0 12.450 425.35
ML669 10266119078 08/10/96 90.0 11.990 371.66
ML669 10266119282 09/01/96 81.2 13.240 224.29
ML669 10266119466 09/26/96 79.9 10.700 4,023.85
ML669 10266119591 10/01/96 78.8 11.490 346.33
ML669 10266119599 09/01/96 79.9 13.990 199.66
ML669 10266119602 09/14/96 83.1 12.700 236.66
ML669 10266119649 09/02/96 79.2 11.950 383.03
ML669 10266119940 08/10/96 90.0 11.150 1,084.13
ML669 10266120218 08/28/96 85.0 13.200 2,279.05
ML669 10266120291 09/16/96 52.1 11.350 633.67
ML669 10266120407 09/03/96 78.5 13.350 219.02
ML669 10266120555 09/26/96 80.0 9.500 1,352.09
ML669 10266120996 09/29/96 89.7 11.800 385.88
ML669 10266121070 09/26/96 79.3 9.500 466.07
ML669 10266121093 09/02/96 48.0 13.350 566.81
ML669 10266121114 09/01/96 84.9 13.500 263.42
ML669 10266121608 09/27/96 84.9 13.550 683.86
ML669 10266121631 09/15/96 80.0 12.850 1,138.27
ML669 10266121717 09/05/96 80.0 12.850 385.26
ML669 10266121781 08/24/96 89.9 11.650 189.03
ML669 10266121825 09/08/96 84.3 11.650 435.77
ML669 10266121942 09/19/96 45.2 9.700 454.22
ML669 10266121949 10/01/96 82.8 11.650 235.55
ML669 10266122218 09/01/96 88.0 11.250 247.75
ML669 10266122566 09/05/96 69.9 9.950 1,199.06
ML669 10266122653 09/14/96 53.6 12.750 449.58
ML669 10266122864 09/16/96 89.8 12.000 462.88
ML669 10266123088 09/05/96 90.0 13.000 485.75
ML669 10266123090 09/01/96 78.1 11.490 367.78
ML669 10266123103 09/01/96 83.9 12.990 484.06
ML669 10266123166 09/16/96 80.0 10.990 829.77
ML669 10266123534 09/01/96 73.5 11.990 962.84
ML669 10266123559 09/09/96 83.3 10.000 265.38
ML669 10266123619 09/13/96 73.6 10.990 1,750.88
ML669 10266123671 09/16/96 85.1 13.250 1,773.09
ML669 10266123691 09/01/96 83.6 13.700 310.20
ML669 10266123742 09/19/96 89.7 10.990 1,750.88
ML669 10266123763 09/05/96 75.0 11.990 770.88
ML669 10266123851 09/14/96 80.0 13.250 765.53
ML669 10266123885 09/05/96 40.6 9.750 421.63
ML669 10266124011 10/02/96 30.7 12.500 493.01
ML669 10266124060 09/01/96 73.7 13.490 175.11
ML669 10266124072 09/14/96 84.9 12.500 279.78
ML669 10266124184 09/15/96 80.0 10.990 891.22
ML669 10266124198 09/12/96 43.3 11.490 514.55
ML669 10266124293 09/16/96 89.5 12.000 482.47
ML669 10266124315 09/08/96 78.6 13.750 531.29
ML669 10266124520 09/01/96 74.8 12.490 203.94
ML669 10266124630 09/13/96 69.0 10.990 1,149.02
ML669 10266124774 09/10/96 63.4 12.190 284.81
ML669 10266124804 09/26/96 79.6 11.490 1,316.46
</TABLE>
<PAGE>
Alliance Funding Company Page 25 9/16/96
A division of Superior Bank FSB
Sale Schedule
1996-3 Class 1 - Initial Pool of Fixed Rate Mortgages - Settlement 9/23/96
<TABLE>
<CAPTION>
Zip
Sale ID Account Name Address City State Code
- -----------------------------------------------------------------------------------------------------------------------------
<C> <C> <S> <C> <C> <C> <C>
ML669 10266124857 HENRY GEORGE A 4520 E HIDALGO AVENUE PHOENIX AZ 85040
ML669 10266124861 HANSEN JOHN A 749 NORTH 800 WEST WEST BOUNTIFUL UT 84010
ML669 10266124930 BYRD HENRY R 346-1 ROUTE 1 HAWTHORNE FL 32640
ML669 10266124933 SCHMID EVE LOUISE 120 CARBON STREET OAK CREEK CO 80467
ML669 10266124972 SMITH JASON W 425 WHITE STREET WEISSPORT PA 18235
ML669 10266125072 HARRIS LAYNE A 95 SOUTH 100 EAST NEPHI UT 84648
ML669 10266125221 WHITAKER WILLIAM E 615 ROANOKE STREET SCOTLAND NECK NC 27874
ML669 10266125266 CHAPMAN WILLIAM M 1860 VAN BUREN CIRCLE MOUNTAIN VIEW CA 94040
ML669 10266125269 KANE LISANNE A 527 TAMARA CIRCLE NEWARK DE 19711
ML669 10266125333 BHARAT NAVARRO P 2900 ROSE VALLEY DRIVE FORT WASHINGTON MD 20744
ML669 10266125355 MARCELLO FRANK D 8225 GREINER ROAD WILLIAMSVILLE NY 14221
ML669 10266125370 LAWRENCE MELVIN R 3611 PONTIAC STREET DENVER CO 80207
ML669 10266125387 RODGERS FLORENE 2940 STEELE STREET DENVER CO 80205
ML669 10266125391 KELLY HAROLD 1152 EAST 37TH STREET BROOKLYN NY 11210
ML669 10266125397 RICHARDS KIMELLA L 141 LINCOLN PLACE BROOKLYN NY 11217
ML669 10266125668 HATCH JEFFREY LEE 864 WEST 1175 SOUTH WOODS CROSS UT 84087
ML669 10266125704 JONES FLAVIO T 15730 BARNESVILLE ROAD BOYDS MD 20841
ML669 10266125869 CRAIG DEBORAH 407 35TH STREET MC KEESPORT PA 15132
ML669 10266125945 BEARDEN GLENN C 735 FERNWOOD DRIVE BROOKSVILLE FL 34601
ML669 10266125992 STEELE JEFFREY S 11730 TIMBERLINE CIRCLE FORT MYERS FL 33912
ML669 10266126030 SMITH CHRISTOPHER JOHN 129 IRONWEED DRIVE PUEBLO CO 81001
ML669 10266126168 HERRERA LORENE CHRISTINE 3212 FAIRFIELD PUEBLO CO 81005
ML669 10266126383 LAWTON JAMES H 8401 SHAGBARK COURT WOODRIDGE IL 60517
ML669 10266126384 AUGUSTYN THADDEUS J 28 W 751 DONALD AVENUE WEST CHICAGO IL 60185
ML669 10266126489 BLOUNT TOM 375 GRAY STREET LAKEWOOD CO 80226
ML669 10266126601 JONES JAMES G JR 633 BESSEMER CIRCLE FAYETTEVILLE NC 28301
ML669 10266126610 DUMONT JACQUELYN A 7820 MONA COURT DENVER CO 80221
ML669 10266126611 BROUGHAL PETER S 7860 SE CLACKAMAS ROAD MILWAUKIE OR 97267
ML669 10266126647 BIELFELDT SHERRY A 7557 NORTH DREAMY DRAW DR #21 PHOENIX AZ 85020
ML669 10266126763 CULBERTSON THEODORE R 307 BAY STREET TARPON SPRINGS FL 34689
ML669 10266126838 GIBSON TERRY L 10480 OWENS STREET WESTMINSTER CO 80021
ML669 10266126855 KELLY RONALD B 963 VIGILANTE AVENUE BAILEY CO 80421
ML669 10266126884 PLUMMER ROBERT F 5356 WENDY ROAD SYKESVILLE MD 21784
ML669 10266126913 MARSICOVETERE JOAN P 910 OLYMPIA ROAD VENICE FL 34293
ML669 10266126918 HOSCHAR KIMBERLY A 1641 MORENO AVENUE FORT MYERS FL 33901
ML669 10266126919 HOSCHAR KIMBERLY A 1470 MORENO AVENUE FORT MYERS FL 33901
ML669 10266126975 BETTINGER ERIC M 436 SOUTH ROUTT WAY LAKEWOOD CO 80226
ML669 10266127033 FINK CARROLL C 2574 MARSTON ROAD NEW WINDSOR MD 21776
ML669 10266127154 KOSTENSKI RICHARD M 9971 WEST 143RD PLACE ORLAND PARK IL 60462
ML669 10266127204 STRONG KAREN 305 NE 67TH AVENUE PORTLAND OR 97213
ML669 10266127261 DAVIS CHARLES F 3208 BYRD CIRCLE HOPE MILLS NC 28348
ML669 10266127274 WEBB WILLIAM H JR 119 E ASH AVENUE CASA GRANDE AZ 85222
ML669 10266127383 VERCAMMEN TERRY L 1409 HANOVER STREET AURORA CO 80010
ML669 10266127421 YUET RICK PAK CHEUNG 223 97TH STREET SE EVERETT WA 98208
ML669 10266127424 HELMICK ALLEN R 7916 S PENNSYLVANIA CT LITTLETON CO 80122
ML669 10266127552 MCCALMON DAVID 7773 WEST 3060 SOUTH MAGNA UT 84044
ML669 10266127639 TORREGROSA VICTOR 776 GRAND TERRACE AVENUE BALDWIN NY 11510
ML669 10266127646 BORDEN EUGENE MERRILL 202 24TH STREET E BRADENTON FL 34208
ML669 10266127827 SHOELL JEFFERY D 1507 SOUTH 630 EAST OREM UT 84058
ML669 10266127845 BLAKE DONALD W 5743 ILLINOIS AVENUE NEW PORT RICHEY FL 34652
ML669 10266127853 BERTERMANN MARK CHARLES 11616 SE 35TH AVENUE MILWAUKIE OR 97222
ML669 10266127969 FREEMAN JUANITA 110 TIMBER LANE LEVITTOWN PA 19054
ML669 10266127987 CHISM EDDIE D 533 WICONISCO STREET HARRISBURG PA 17110
ML669 10266128024 WHITE DEBORAH J 1572 WEST 1410 NORTH FARMINGTON UT 84025
ML669 10266128134 UNSWORTH RUEL C 5966 SOUTH TARRAGON COURT SALT LAKE CITY UT 84118
ML669 10266128139 JOHNSON MICHAEL D 4927 WEST ASPEN PARK DRIVE WEST JORDAN UT 84084
ML669 10266128150 HAMILTON GREGG 1009 SOUTH 1100 EAST SALT LAKE CITY UT 84105
ML669 10266128158 PAICE JIM C 2579 WEST HARVEST LANE WEST JORDAN UT 84084
ML669 10266128309 ROESCH JOHN F 10060 SOUTH ABERDEEN CIRCLE SOUTH JORDAN UT 84095
ML669 10266128344 BOWLES JEFFREY K 921 SOUTH CONNER STREET SALT LAKE CITY UT 84108
-------------------------------------------
122 Sale Total
<CAPTION>
Principal Cut-off Date First
Balance at Principal Payment Maturity Rem
Sale ID Account Origination Balance Date Date Term
- ---------------------------------------------------------------------------------------------------------------------
<C> <C> <S> <C> <C> <C> <C>
ML669 10266124857 24,000.00 23,969.80 08/17/96 07/17/16 238.49
ML669 10266124861 33,500.00 33,500.00 09/06/96 08/06/11 179.15
ML669 10266124930 19,000.00 19,000.00 09/14/96 08/14/11 179.41
ML669 10266124933 38,500.00 38,500.00 09/14/96 08/14/11 179.41
ML669 10266124972 32,400.00 32,400.00 09/20/96 08/20/11 179.61
ML669 10266125072 33,093.00 33,093.00 09/19/96 08/19/11 179.57
ML669 10266125221 32,800.00 32,800.00 09/20/96 08/20/06 119.61
ML669 10266125266 477,600.00 477,600.00 09/01/96 08/01/11 179.00
ML669 10266125269 20,500.00 20,500.00 09/19/96 08/19/11 179.57
ML669 10266125333 36,000.00 36,000.00 09/14/96 08/14/11 179.41
ML669 10266125355 122,000.00 122,000.00 09/01/96 08/01/16 239.00
ML669 10266125370 51,500.00 51,500.00 09/14/96 08/14/26 359.41
ML669 10266125387 31,400.00 31,400.00 09/13/96 08/13/11 179.38
ML669 10266125391 136,000.00 136,000.00 09/15/96 08/15/11 179.44
ML669 10266125397 58,000.00 58,000.00 09/16/96 08/16/11 179.47
ML669 10266125668 34,000.00 34,000.00 09/19/96 08/19/11 179.57
ML669 10266125704 50,000.00 50,000.00 09/15/96 08/15/11 179.44
ML669 10266125869 25,000.00 25,000.00 09/19/96 08/19/16 239.57
ML669 10266125945 41,600.00 41,600.00 09/15/96 08/15/11 179.44
ML669 10266125992 18,650.00 18,650.00 09/14/96 08/14/06 119.41
ML669 10266126030 60,520.00 60,520.00 09/16/96 08/16/16 239.47
ML669 10266126168 13,600.00 13,600.00 09/12/96 08/12/16 239.34
ML669 10266126383 93,400.00 93,400.00 09/14/96 08/14/16 239.41
ML669 10266126384 37,000.00 36,764.50 09/14/96 08/14/16 239.41
ML669 10266126489 56,723.00 56,723.00 09/14/96 08/14/11 179.41
ML669 10266126601 74,100.00 74,100.00 09/16/96 08/16/06 119.47
ML669 10266126610 24,840.00 24,840.00 09/14/96 08/14/16 239.41
ML669 10266126611 140,000.00 140,000.00 09/12/96 08/12/11 179.34
ML669 10266126647 40,235.00 40,235.00 09/14/96 08/14/11 179.41
ML669 10266126763 106,250.00 106,250.00 09/09/96 08/09/26 359.24
ML669 10266126838 32,500.00 32,500.00 09/19/96 08/19/11 179.57
ML669 10266126855 33,600.00 33,600.00 09/16/96 08/16/11 179.47
ML669 10266126884 13,000.00 13,000.00 09/20/96 08/20/11 179.61
ML669 10266126913 10,000.00 10,000.00 09/12/96 08/12/11 179.34
ML669 10266126918 18,200.00 18,200.00 09/14/96 08/14/11 179.41
ML669 10266126919 25,800.00 25,800.00 09/14/96 08/14/11 179.41
ML669 10266126975 17,260.00 17,260.00 09/19/96 08/19/11 179.57
ML669 10266127033 37,825.00 37,825.00 09/14/96 08/14/11 179.41
ML669 10266127154 51,000.00 51,000.00 09/19/96 08/19/11 179.57
ML669 10266127204 31,328.00 31,328.00 09/16/96 08/16/11 179.47
ML669 10266127261 18,000.00 18,000.00 09/19/96 08/19/11 179.57
ML669 10266127274 10,500.00 10,500.00 09/12/96 08/12/11 179.34
ML669 10266127383 30,000.00 30,000.00 09/14/96 08/14/11 179.41
ML669 10266127421 29,656.00 29,656.00 09/07/96 08/07/16 239.18
ML669 10266127424 45,650.00 45,650.00 09/14/96 08/14/11 179.41
ML669 10266127552 15,000.00 14,959.60 09/01/96 08/01/11 179.00
ML669 10266127639 120,000.00 120,000.00 09/12/96 08/12/11 179.34
ML669 10266127646 23,624.00 23,624.00 09/16/96 08/16/11 179.47
ML669 10266127827 22,250.00 22,250.00 09/02/96 08/02/11 179.01
ML669 10266127845 21,700.00 21,700.00 09/14/96 08/14/16 239.41
ML669 10266127853 31,250.00 31,250.00 09/12/96 08/12/11 179.34
ML669 10266127969 72,250.00 72,250.00 09/21/96 08/21/11 179.64
ML669 10266127987 15,500.00 15,500.00 09/14/96 08/14/11 179.41
ML669 10266128024 40,000.00 40,000.00 09/16/96 08/16/11 179.47
ML669 10266128134 12,900.00 12,900.00 09/06/96 08/06/11 179.15
ML669 10266128139 30,000.00 30,000.00 09/06/96 08/06/11 179.15
ML669 10266128150 16,000.00 15,877.50 09/06/96 08/06/11 179.15
ML669 10266128158 27,332.00 27,332.00 09/06/96 08/06/11 179.15
ML669 10266128309 35,000.00 35,000.00 09/16/96 08/16/11 179.47
ML669 10266128344 71,000.00 71,000.00 09/07/96 08/07/11 179.18
--------------------------------------------------------- -------------
122 7,259,489.00 7,257,504.39 206.82
<CAPTION>
Original Current Scheduled
Date LTV Mortgage Payment
Sale ID Account Due Ratio Rate Int & Prin
- ---------------------------------------------------------------------------------------------
ML669 10266124857 09/17/96 58.5 11.200 251.00
ML669 10266124861 09/06/96 87.4 12.500 412.89
ML669 10266124930 09/14/96 80.8 10.950 215.36
ML669 10266124933 09/14/96 70.0 12.250 403.44
ML669 10266124972 09/20/96 80.0 10.250 290.34
ML669 10266125072 09/19/96 57.4 12.500 407.88
ML669 10266125221 09/20/96 80.0 12.450 479.16
ML669 10266125266 09/01/96 80.0 9.900 4,156.03
ML669 10266125269 09/19/96 85.0 13.750 269.57
ML669 10266125333 09/14/96 89.4 11.700 425.14
ML669 10266125355 09/01/96 71.7 10.750 1,238.58
ML669 10266125370 09/14/96 67.7 10.000 451.95
ML669 10266125387 09/13/96 84.5 13.240 353.25
ML669 10266125391 09/15/96 86.0 11.000 1,295.16
ML669 10266125397 09/16/96 10.7 9.500 605.65
ML669 10266125668 09/19/96 74.8 14.250 409.59
ML669 10266125704 09/15/96 78.3 11.750 592.07
ML669 10266125869 09/19/96 65.7 12.500 284.04
ML669 10266125945 09/15/96 89.9 12.000 499.27
ML669 10266125992 09/14/96 84.7 10.750 254.27
ML669 10266126030 09/16/96 79.9 14.250 763.59
ML669 10266126168 09/12/96 74.0 14.500 174.08
ML669 10266126383 09/14/96 84.9 12.250 1,044.74
ML669 10266126384 10/14/96 85.0 10.000 357.06
ML669 10266126489 09/14/96 64.7 10.500 518.87
ML669 10266126601 09/16/96 89.2 11.700 1,050.31
ML669 10266126610 09/14/96 84.9 13.240 295.28
ML669 10266126611 09/12/96 80.0 10.750 1,306.87
ML669 10266126647 09/14/96 65.0 11.500 398.44
ML669 10266126763 09/09/96 85.0 12.000 1,092.90
ML669 10266126838 09/19/96 89.5 11.750 384.84
ML669 10266126855 09/16/96 79.9 11.750 397.87
ML669 10266126884 09/20/96 90.0 12.250 158.12
ML669 10266126913 09/12/96 75.8 11.000 113.66
ML669 10266126918 09/14/96 69.2 10.950 206.29
ML669 10266126919 09/14/96 84.9 12.690 321.19
ML669 10266126975 09/19/96 79.9 14.550 236.27
ML669 10266127033 09/14/96 90.0 12.250 460.07
ML669 10266127154 09/19/96 84.5 10.000 548.05
ML669 10266127204 09/16/96 90.0 12.250 328.29
ML669 10266127261 09/19/96 89.4 12.250 218.93
ML669 10266127274 09/12/96 89.7 12.000 126.02
ML669 10266127383 09/14/96 65.9 12.750 326.01
ML669 10266127421 09/07/96 80.0 14.750 385.04
ML669 10266127424 09/14/96 90.0 11.750 460.80
ML669 10266127552 10/01/96 86.7 12.900 188.80
ML669 10266127639 09/12/96 80.0 11.250 1,165.51
ML669 10266127646 09/16/96 79.7 11.750 279.74
ML669 10266127827 09/02/96 68.6 13.850 294.07
ML669 10266127845 09/14/96 84.9 11.750 235.16
ML669 10266127853 09/12/96 85.0 12.990 395.18
ML669 10266127969 09/21/96 85.0 10.200 785.27
ML669 10266127987 09/14/96 79.9 13.990 206.32
ML669 10266128024 09/16/96 78.4 11.000 380.93
ML669 10266128134 09/06/96 85.5 12.900 162.37
ML669 10266128139 09/06/96 77.9 15.590 432.06
ML669 10266128150 10/06/96 42.5 11.650 188.44
ML669 10266128158 09/06/96 68.2 14.090 365.65
ML669 10266128309 09/16/96 59.7 13.000 387.17
ML669 10266128344 09/07/96 84.8 13.950 838.45
------------------ -------------------------------------------
122 77.4 11.616 76,670.12
</TABLE>
<PAGE>
Alliance Funding Company Page 26 9/16/96
A division of Superior Bank FSB
Sale Schedule
1996-3 Class 1 - Initial Pool of Fixed Rate Mortgages - Settlement 9/23/96
<TABLE>
<CAPTION>
Zip
Sale ID Account Name Address City State Code
- -----------------------------------------------------------------------------------------------------------------------------
<C> <C> <S> <C> <C> <C> <C>
ML670 10266079740 PIQUION YVES JACQUES 9901 ASHBURTON LANE BETHESDA MD 20817
ML670 10266106019 STOECKMANN WALTER 25 EAST HARKIN ROAD MAHOPAC NY 10541
ML670 10266107846 PETERSON SUSAN 5540 WEST BLUEVAIL COURT WEST JORDAN UT 84084
ML670 10266109698 NEBEKER WILLIAM F 1055 EAST SMART LANE SANDY UT 84094
ML670 10266111416 DEBROSSE DOMINIQUE M 109 LONG DRIVE HEMPSTEAD NY 11550
ML670 10266111680 KING GARY H 65 SOUTH LINE STREET FRACKVILLE PA 17931
ML670 10266114001 HALL JOHN F 49 COLUMBIA STREET RENSSELAER NY 12144
ML670 10266114232 WHITEAKER BRUCE A 8651 E CORRINE DRIVE SCOTTSDALE AZ 85260
ML670 10266114528 ENG MICHAEL A 127 SIGSBEE AVENUE ALBERTSON NY 11507
ML670 10266114851 JUN CLARA KEUM JOO 16 HILLSIDE LANE SOUTH SYOSSET NY 11791
ML670 10266114909 KELLY WILFRED J 1407 LINCOLN PLACE BROOKLYN NY 11213
ML670 10266115246 FERNANDEZ ANTONIO ALFONSO 3864 SHERIDAN BOULEVARD DENVER CO 80212
ML670 10266115248 GALANAKIS THEOHARIS 500 BRADLEY BOULEVARD BRADLEY BEACH NJ 07720
ML670 10266115560 HANSON CATHERINE 20 GRAY AVENUE MEDFORD NY 11763
ML670 10266115782 MARUSINEC ADRIANNE 21 HOWARD STREET MILLTOWN NJ 08850
ML670 10266117205 RAY CHARLES 1864 N WILLIAMS MESA AZ 85203
ML670 10266118272 COCHRANE FRANCINE 94 MINERVA AVENUE HAWTHORNE NJ 07506
ML670 10266118305 MIDDLETON DELLA ELIZABETH 614 63RD PLACE SEAT PLEASANT MD 20743
ML670 10266118417 CLEAVER ALBERT W 945 KLEE MILL ROAD WESTMINSTER MD 21157
ML670 10266118467 ROLNICK MARTIN 103 MURRAY DRIVE OCEANSIDE NY 11572
ML670 10266118592 RUBINSHTEIN ALEX 37 COLERIDGE STREET BROOKLYN NY 11235
ML670 10266118676 WILLIAMS PATRICIA 34 ASPEN WAY SCHWENKSVILLE PA 19473
ML670 10266118761 EDWARDS GREGORY B 885 SE 31ST COURT HILLSBORO OR 97123
ML670 10266118801 EBACK THOMAS W 2212 SOUTHEAST 132ND AVENUE PORTLAND OR 97233
ML670 10266118863 PHILLIPS RUSSELL 3940 W RANCHO DR PHOENIX AZ 85019
ML670 10266118931 TEIXEIRA EUGENIA M 412 FORD AVENUE FORDS NJ 08862
ML670 10266119075 PETERS SCOTT H 1879 HELEN ROAD PLEASANT HILL CA 94523
ML670 10266119198 RUSSO ANTHONY 54 FAYETTE AVENUE STATEN ISLAND NY 10305
ML670 10266119472 WONG LEI KONG 209-45 28TH AVENUE BAYSIDE NY 11360
ML670 10266119639 MOORE GLAISTER 12 NORTH BOND STREET MOUNT VERNON NY 10550
ML670 10266120331 BORGES PATRICIA 7 HEATHER LANE OXFORD CT 06478
ML670 10266120397 AMATO DOMENICO 20 CALIFORNIA STREET HICKSVILLE NY 11801
ML670 10266120481 ELLIS CAROL 174-07 MURDOCK AVENUE SAINT ALBANS NY 11434
ML670 10266120515 YATES DON A 18238 WEST JEFFERSON STREET BUCKEYE AZ 85326
ML670 10266120707 DEEBY LINDA A 29639 BOEWE WARREN MI 48092
ML670 10266120935 STOREY JAMES R 4360 SOUTH 2350 WEST ROY UT 84067
ML670 10266120965 FREEMAN TERRY R 2257 COVERDALE ROAD LEICESTER NY 14481
ML670 10266121172 PEARL DANIEL S 3813 THREE WOOD DRIVE HAMPSTEAD MD 21074
ML670 10266121392 GHAZALEH OUSAMA ABU 10904 VALLEY FORGE CIRCLE KING OF PRUSSIA PA 19406
ML670 10266121447 LOPEZ FRANCISCO 173 GIBBS ROAD CENTRAL ISLIP NY 11722
ML670 10266121841 FARKAS EDWARD 3 METRO TRAIL HOPATCONG NJ 07843
ML670 10266121962 LOFTIS ROGER D 328 PERRY STREET COLUMBIA PA 17512
ML670 10266122033 ABBOTT DENNIS P 2715 SANTA MONICA AVENUE SE ALBUQUERQUE NM 87106
ML670 10266122163 MERITAI MARK 320 FOREST GLEN AVENUE FRANKLIN LAKES NJ 07417
ML670 10266122444 HULL KENZIE 519 EAST EVANS AVENUE PUEBLO CO 81004
ML670 10266122529 TRUJILLO DONEY LLOYD 7001 EAST 68TH PLACE COMMERCE CITY CO 80022
ML670 10266122572 GILES BRETT KELLY 624 WEST OREGON AVENUE CRESWELL OR 97426
ML670 10266122589 CHEEK PATRICIA A 2010 CLEARWOOD DRIVE MITCHELLVILLE MD 20721
ML670 10266122639 PACKARD EDWARD E 339 EAST MCDOWELL BLVD APACHE JUNCTION AZ 85219
ML670 10266122808 HUITT WENDY L 1931 MONEDA DRIVE NW ALBUQUERQUE NM 87120
ML670 10266122816 SHEVOCK SCOTT F 1019 BEACON HILL WAY COLORADO SPRINGS CO 80906
ML670 10266122886 MCGUGINS WILLIAM H SR 400 EGMONT AVENUE MOUNT VERNON NY 10553
ML670 10266122960 TIMONEY RYAN M 11340 EAST BIG COTTONWOOD 325 SALT LAKE CITY UT 84121
ML670 10266122972 MARRERO DEBORAH ANN ROAD #4 BOX 4469 POTTSVILLE PA 17901
ML670 10266123158 KIVLER JEFFREY DAVID 4607 EASTWOOD LANE HOLIDAY FL 34690
ML670 10266123202 ODEN CLYDE H 200 4TH AVENUE EAST ORANGE NJ 07017
ML670 10266123283 MOUNT RONALD P 3223 111TH AVENUE SE BELLEVUE WA 98004
ML670 10266123549 WILKINS W BYRON 2S330 RIVER OAKS DRIVE WARRENVILLE IL 60555
ML670 10266123579 MUNIZ WILLIAM 144 CORNELIA STREET BROOKLYN NY 11221
ML670 10266123622 QUANTZ DOUGLAS L 6701 SIERRA DR SE LACEY WA 98503
ML670 10266123820 WARNER LELAND W III 1922 POHICK CREEK COURT WOODBRIDGE VA 22192
ML670 10266123994 TURNER JANN M 221 CELIA AVENUE BOULDER CREEK CA 95006
<CAPTION>
Principal Cut-off Date First
Balance at Principal Payment Maturity Rem
Sale ID Account Origination Balance Date Date Term
- ---------------------------------------------------------------------------------------------------------------------
<C> <C> <S> <C> <C> <C> <C>
ML670 10266079740 95,700.00 93,235.72 08/14/95 07/14/10 166.36
ML670 10266106019 178,415.00 178,415.00 06/15/96 05/15/26 356.42
ML670 10266107846 30,000.00 30,000.00 04/11/96 03/11/11 174.28
ML670 10266109698 28,300.00 27,977.60 06/09/96 05/09/11 176.22
ML670 10266111416 175,000.00 175,000.00 06/04/96 05/04/26 356.05
ML670 10266111680 32,000.00 31,793.89 07/28/96 06/28/11 177.86
ML670 10266114001 52,500.00 52,500.00 07/21/96 06/21/11 177.63
ML670 10266114232 76,250.00 76,250.00 09/12/96 08/12/11 179.34
ML670 10266114528 86,300.00 86,122.28 08/01/96 07/01/11 178.00
ML670 10266114851 161,500.00 161,500.00 08/03/96 07/03/11 178.03
ML670 10266114909 80,000.00 80,000.00 08/26/96 07/26/11 178.78
ML670 10266115246 64,000.00 63,986.54 06/28/96 05/28/11 176.84
ML670 10266115248 33,674.00 33,674.00 08/08/96 07/08/11 178.19
ML670 10266115560 72,000.00 71,413.31 06/01/96 05/01/11 176.00
ML670 10266115782 112,200.00 112,200.00 08/09/96 07/09/26 358.22
ML670 10266117205 128,000.00 128,000.00 08/25/96 07/25/26 358.75
ML670 10266118272 155,250.00 155,190.80 07/20/96 06/20/11 177.60
ML670 10266118305 59,500.00 59,442.94 07/01/96 06/01/11 177.00
ML670 10266118417 296,000.00 296,000.00 07/26/96 06/26/11 177.80
ML670 10266118467 80,813.00 80,813.00 09/22/96 08/22/11 179.67
ML670 10266118592 95,200.00 95,200.00 07/19/96 06/19/11 177.57
ML670 10266118676 70,000.00 70,000.00 07/28/96 06/28/11 177.86
ML670 10266118761 157,000.00 157,000.00 08/08/96 07/08/11 178.19
ML670 10266118801 41,700.00 41,700.00 09/20/96 08/20/11 179.61
ML670 10266118863 21,736.00 21,686.51 08/23/96 07/23/11 178.68
ML670 10266118931 110,000.00 109,909.12 07/25/96 06/25/11 177.76
ML670 10266119075 34,900.00 34,900.00 09/02/96 08/02/11 179.01
ML670 10266119198 40,000.00 40,000.00 08/09/96 07/09/11 178.22
ML670 10266119472 38,000.00 37,951.98 08/17/96 07/17/11 178.49
ML670 10266119639 112,000.00 111,912.15 01/05/96 12/05/10 171.09
ML670 10266120331 152,000.00 152,000.00 09/01/96 08/01/26 359.00
ML670 10266120397 24,500.00 24,500.00 09/05/96 08/05/16 239.11
ML670 10266120481 155,000.00 155,000.00 09/14/96 08/14/11 179.41
ML670 10266120515 118,915.00 118,915.00 09/02/96 08/02/26 359.01
ML670 10266120707 50,000.00 50,000.00 09/06/96 08/06/16 239.15
ML670 10266120935 25,000.00 24,999.78 09/01/96 08/01/11 179.00
ML670 10266120965 92,000.00 92,000.00 09/16/96 08/16/26 359.47
ML670 10266121172 51,195.00 50,548.62 08/22/96 07/22/11 178.65
ML670 10266121392 54,600.00 54,600.00 08/22/96 07/22/11 178.65
ML670 10266121447 108,800.00 108,771.20 07/25/96 06/25/26 357.76
ML670 10266121841 104,000.00 104,000.00 09/21/96 08/21/11 179.64
ML670 10266121962 39,500.00 39,500.00 09/12/96 08/12/11 179.34
ML670 10266122033 33,000.00 33,000.00 09/07/96 08/07/11 179.18
ML670 10266122163 70,000.00 70,000.00 08/15/96 07/15/11 178.42
ML670 10266122444 63,000.00 63,000.00 09/19/96 08/19/11 179.57
ML670 10266122529 59,200.00 59,200.00 09/27/96 08/27/26 359.84
ML670 10266122572 15,000.00 15,000.00 09/06/96 08/06/11 179.15
ML670 10266122589 40,000.00 39,948.69 08/19/96 07/19/11 178.55
ML670 10266122639 26,550.00 26,550.00 09/12/96 08/12/11 179.34
ML670 10266122808 11,532.00 11,532.00 08/03/96 07/03/11 178.03
ML670 10266122816 39,099.00 39,099.00 09/26/96 08/26/11 179.80
ML670 10266122886 42,000.00 42,000.00 08/03/96 07/03/11 178.03
ML670 10266122960 170,625.00 170,625.00 09/16/96 08/16/11 179.47
ML670 10266122972 65,000.00 65,000.00 08/03/96 07/03/11 178.03
ML670 10266123158 39,150.00 39,150.00 09/16/96 08/16/26 359.47
ML670 10266123202 92,000.00 92,000.00 09/05/96 08/05/11 179.11
ML670 10266123283 103,800.00 103,800.00 09/05/96 08/05/11 179.11
ML670 10266123549 28,600.00 28,600.00 09/05/96 08/05/16 239.11
ML670 10266123579 40,600.00 40,600.00 08/17/96 07/17/11 178.49
ML670 10266123622 20,000.00 20,000.00 09/14/96 08/14/11 179.41
ML670 10266123820 25,600.00 25,600.00 09/05/96 08/05/11 179.11
ML670 10266123994 41,750.00 41,750.00 09/12/96 08/12/11 179.34
<CAPTION>
Original Current Scheduled
Date LTV Mortgage Payment
Sale ID Account Due Ratio Rate Int & Prin
- ---------------------------------------------------------------------------------------------
ML670 10266079740 08/14/96 90.0 11.000 1,087.72
ML670 10266106019 09/15/96 85.0 12.200 1,862.71
ML670 10266107846 08/11/96 74.3 13.750 394.50
ML670 10266109698 10/09/96 85.0 12.940 356.95
ML670 10266111416 09/04/96 67.3 11.950 1,793.34
ML670 10266111680 09/28/96 80.0 13.250 410.16
ML670 10266114001 09/21/96 70.0 11.700 527.93
ML670 10266114232 09/12/96 81.8 12.250 799.02
ML670 10266114528 09/01/96 78.1 11.700 1,019.15
ML670 10266114851 08/03/96 85.0 13.200 1,811.79
ML670 10266114909 08/26/96 45.7 11.750 807.53
ML670 10266115246 09/28/96 80.0 10.700 595.02
ML670 10266115248 09/08/96 84.9 12.700 419.43
ML670 10266115560 10/01/96 80.0 10.500 658.62
ML670 10266115782 09/09/96 85.0 11.900 1,145.47
ML670 10266117205 08/25/96 80.0 12.750 1,390.97
ML670 10266118272 09/20/96 75.0 10.900 1,466.76
ML670 10266118305 09/01/96 70.0 11.750 600.60
ML670 10266118417 08/26/96 80.0 9.990 3,179.02
ML670 10266118467 09/22/96 74.9 9.990 867.93
ML670 10266118592 09/19/96 77.2 13.700 1,105.43
ML670 10266118676 08/28/96 65.7 10.500 640.32
ML670 10266118761 08/08/96 89.4 12.100 1,627.02
ML670 10266118801 09/20/96 88.3 11.650 417.73
ML670 10266118863 09/23/96 79.6 13.350 280.04
ML670 10266118931 09/25/96 75.8 10.050 969.40
ML670 10266119075 09/02/96 80.0 14.050 414.90
ML670 10266119198 09/09/96 89.2 12.600 430.01
ML670 10266119472 09/17/96 74.9 11.600 446.33
ML670 10266119639 09/05/96 57.4 14.750 1,393.81
ML670 10266120331 09/01/96 80.0 9.850 1,317.09
ML670 10266120397 09/05/96 84.3 13.350 293.17
ML670 10266120481 09/14/96 80.5 10.250 1,388.96
ML670 10266120515 09/02/96 85.0 12.200 1,241.51
ML670 10266120707 09/06/96 42.7 10.000 482.51
ML670 10266120935 10/01/96 84.9 13.200 280.46
ML670 10266120965 09/16/96 77.9 12.800 1,003.34
ML670 10266121172 10/22/96 80.8 13.400 661.27
ML670 10266121392 09/22/96 60.0 13.350 618.96
ML670 10266121447 08/25/96 85.0 12.350 1,148.53
ML670 10266121841 09/21/96 80.0 10.500 951.33
ML670 10266121962 09/12/96 72.8 12.450 420.03
ML670 10266122033 09/07/96 73.0 11.450 384.45
ML670 10266122163 09/15/96 82.7 13.950 826.64
ML670 10266122444 09/19/96 63.6 10.250 686.67
ML670 10266122529 09/27/96 80.0 13.750 689.75
ML670 10266122572 09/06/96 88.8 12.000 180.03
ML670 10266122589 09/19/96 88.4 12.900 503.47
ML670 10266122639 09/12/96 89.8 12.000 273.10
ML670 10266122808 09/03/96 80.0 12.950 127.12
ML670 10266122816 09/26/96 85.0 10.750 364.98
ML670 10266122886 09/03/96 89.8 11.600 419.13
ML670 10266122960 09/16/96 79.3 10.990 1,623.61
ML670 10266122972 09/03/96 57.5 10.390 714.08
ML670 10266123158 09/16/96 90.0 10.650 362.52
ML670 10266123202 09/05/96 63.4 11.550 914.58
ML670 10266123283 09/05/96 85.0 13.990 1,229.08
ML670 10266123549 09/05/96 15.4 12.990 334.87
ML670 10266123579 09/17/96 89.9 12.400 430.16
ML670 10266123622 09/14/96 79.9 13.000 253.05
ML670 10266123820 09/05/96 89.5 12.990 323.73
ML670 10266123994 09/12/96 85.0 13.800 488.08
</TABLE>
<PAGE>
Alliance Funding Company Page 27 9/16/96
A division of Superior Bank FSB
Sale Schedule
1996-3 Class 1 - Initial Pool of Fixed Rate Mortgages - Settlement 9/23/96
<TABLE>
<CAPTION>
Zip
Sale ID Account Name Address City State Code
- -----------------------------------------------------------------------------------------------------------------------------
<C> <C> <S> <C> <C> <C> <C>
ML670 10266124001 CUMMINGS TED S 9630 50TH PLACE WEST MUKILTEO WA 98275
ML670 10266124065 HARDMAN ERIC G 806 SOUTH 1640 WEST OREM UT 84058
ML670 10266124164 THOMPSON MICHELE C 2675 ACORN AVENUE ATLANTA GA 30305
ML670 10266124173 CAREW THYRA 400 WOMPATUCK COURT SILVER SPRING MD 20905
ML670 10266124178 ROSA FRANCISCO A DE LA 37 HIGHLAND PLACE BROOKLYN NY 11208
ML670 10266124328 NOLETTE HARRY N 2903 FENIMORE COURT WHEATON MD 20902
ML670 10266124346 SCOLLARD BRUCE L 5102 EAST 108TH PLACE THORNTON CO 80233
ML670 10266124350 SNYDER KEVIN S 706 WEST 2225 SOUTH SYRACUSE UT 84075
ML670 10266124363 CLULOW MARGARETTA M 102 SHOREFRONT PARK NORWALK CT 06854
ML670 10266124393 WHITTLE PATRICIA A 3115 WINCHESTER DRIVE PALM HARBOR FL 34683
ML670 10266124411 OVERGAARD REBECCA 71 MADISON AVENUE PARK RIDGE NJ 07656
ML670 10266124425 TOLARO TIMOTHY L 30219 CENTER RIDGE ROAD WESTLAKE OH 44145
ML670 10266124438 NOOR ABID 1185 BASSWOOD HOFFMAN ESTATES IL 60195
ML670 10266124478 HALSTEAD KEITH R 1108 N FRONT STREET READING PA 19601
ML670 10266124485 BOOKAMER DAVID 302 WRIGHT AVENUE ELLWOOD CITY PA 16117
ML670 10266124558 BAGLEY JEFF D 1232 SOUTH 950 EAST SPRINGVILLE UT 84663
ML670 10266124589 VIGIL CATHERINE R 620 TURQUOISE COURT NE ALBUQUERQUE NM 87123
ML670 10266124658 BROWN LEROY 7048 SOUTH PERRY AVENUE CHICAGO IL 60621
ML670 10266124659 DAVIS KATHY L 2354 BULLOCK RD. LAPEER MI 48446
ML670 10266124853 CURTIS A GRAHAM 26 NORWILL DRIVE NORTH BRANFORD CT 06471
ML670 10266124924 RAY RICHARD C 1619 SUE DRIVE COCOA FL 32922
ML670 10266124980 SAMUEL PEGGY 129-27 134TH STREET JAMAICA NY 11420
ML670 10266124981 DUNN EDWARD R 14415 BROOK DRIVE WOODBRIDGE VA 22193
ML670 10266125005 NIELSEN ROBERT 1063 EAST ELGIN AVENUE SALT LAKE CITY UT 84106
ML670 10266125067 MAJETTE ALTON 67 NEW YORK AVENUE NORTHWEST WASHINGTON DC 20001
ML670 10266125137 DEFOUW WILLIAM R 793 MERRILLS COVE RD ASHEVILLE NC 28803
ML670 10266125138 ROUSH MICHAEL W 513 WEST FREDERICK STREET LANCASTER PA 17603
ML670 10266125139 MYERS MICHELE M 3949 N 6TH STREET HARRISBURG PA 17110
ML670 10266125194 JACOBY PATRICK G 723 216TH STREET SW BOTHELL WA 98021
ML670 10266125201 PIETRUSZA DOROTHY 1320 OAKLAWN DRIVE LATROBE PA 15650
ML670 10266125263 MILLER MISTI M 13572 HARRISON STREET THORNTON CO 80241
ML670 10266125275 COHEN JACQUELYN W 10108 WINDTREE LANE BOCA RATON FL 33428
ML670 10266125300 SMITH ZINA V 5345 OVERBEND TRAIL SUWANEE GA 30174
ML670 10266125311 TURANO JOSEPH P 1142 SE 19TH TERRACE CAPE CORAL FL 33990
ML670 10266125322 VITIELLO PASQUINO J 147 BEECHWOOD ROAD ORADELL NJ 07649
ML670 10266125383 MINNICK DANIEL N 810 HOOD ROAD SWARTHMORE PA 19081
ML670 10266125475 IERONIMO JOHN 12 INDIAN LEDGE DRIVE TRUMBULL CT 06611
ML670 10266125487 TRETOLA ALFRED 156-43 91ST STREET HOWARD BEACH NY 11414
ML670 10266125510 TRIOLO CALOGERO 58-14 78TH STREET ELMHURST NY 11373
ML670 10266125564 GARMON MICHAEL B 5020 OAK GROVE CUMMING GA 30130
ML670 10266125571 CAMACHO LUIS A 1123 CHURCH STREET LEBANON PA 17046
ML670 10266125587 FOLEY BRIAN D 25 GROVE STREET WEST HARTFORD CT 06110
ML670 10266125606 DESCHENES ROGER M 3701 NW 8TH STREET DELRAY BEACH FL 33445
ML670 10266125660 WALLACE CANDACE L 1619 WOODWELL ROAD SILVER SPRING MD 20906
ML670 10266125818 HARDEMAN STEVE 620 MORRIS AVENUE BELLWOOD IL 60104
ML670 10266125849 BAKER ROBERT A 63 SHEARER ROAD WASHINGTON CT 06793
ML670 10266125941 MILLER ELAINE 7 THE PARKWAY HARRINGTON PARK NJ 07640
ML670 10266125998 FELLMY CHARLES T JR 136 BOUNDARY BLVD ROTONDA WEST FL 33947
ML670 10266126007 COKER MICHAEL K 19 WAVERLY PLACE STAMFORD CT 06902
ML670 10266126090 VELTEN DOLORES A 3 OLD FORGE GARTH SPARKS MD 21152
ML670 10266126109 JACKMAN DAVID E 610 NORTH 100 WEST SPRINGVILLE UT 84663
ML670 10266126111 WIEZER ELIAS 753 SOUTH 2ND STREET PHILADELPHIA PA 19147
ML670 10266126118 LOOSLE MICHAEL K 2693 NORTH 230 EAST NORTH LOGAN UT 84341
ML670 10266126135 SHABAREKH ANTHONY J 25 SPRING STREET NEW LONDON CT 06320
ML670 10266126280 PUZIO STEPHEN J 808 PENN ESTATES EAST STROUDSBURG PA 18301
ML670 10266126316 JOHNSTON CARL JOSEPH 316 LIBERTY STREET SANTA CRUZ CA 95060
ML670 10266126438 BRENTLINGER DOUGLAS H 6452 SOUTH HERITAGE PLACE EAS ENGLEWOOD CO 80111
ML670 10266126472 PETROVIC MIRJAN 23250 N 88TH DRIVE PEORIA AZ 85382
ML670 10266126495 GIDUSKO LAURA S 3717 LISBURN ROAD MECHANICSBURG PA 17055
ML670 10266126505 MANCINI KRISTOPHER 23 CHEROKEE DRIVE DANBURY CT 06811
ML670 10266126594 SPECHT CHARLES A 7238 RYAN STREET FAYETTEVILLE NC 28314
ML670 10266126612 OBERHOLZER ROLAND A 6102 E KELTON LANE SCOTTSDALE AZ 85254
<CAPTION>
Principal Cut-off Date First
Balance at Principal Payment Maturity Rem
Sale ID Account Origination Balance Date Date Term
- ---------------------------------------------------------------------------------------------------------------------
<C> <C> <S> <C> <C> <C> <C>
ML670 10266124001 26,400.00 26,400.00 09/07/96 08/07/11 179.18
ML670 10266124065 40,600.00 40,600.00 09/21/96 08/21/11 179.64
ML670 10266124164 198,400.00 198,400.00 08/05/96 07/05/11 178.09
ML670 10266124173 27,350.00 27,350.00 09/05/96 08/05/11 179.11
ML670 10266124178 144,000.00 144,000.00 08/25/96 07/25/26 358.75
ML670 10266124328 36,000.00 36,000.00 09/26/96 08/26/11 179.80
ML670 10266124346 96,000.00 96,000.00 09/19/96 08/19/11 179.57
ML670 10266124350 56,200.00 56,200.00 09/21/96 08/21/11 179.64
ML670 10266124363 19,500.00 19,500.00 09/12/96 08/12/11 179.34
ML670 10266124393 67,950.00 67,950.00 09/23/96 08/23/11 179.70
ML670 10266124411 57,357.00 57,357.00 09/05/96 08/05/11 179.11
ML670 10266124425 68,600.00 68,600.00 09/16/96 08/16/16 239.47
ML670 10266124438 35,500.00 35,500.00 09/12/96 08/12/16 239.34
ML670 10266124478 34,080.00 34,080.00 09/01/96 08/01/26 359.00
ML670 10266124485 30,800.00 30,800.00 09/02/96 08/02/11 179.01
ML670 10266124558 35,000.00 35,000.00 09/09/96 08/09/11 179.24
ML670 10266124589 83,700.00 83,700.00 09/06/96 08/06/11 179.15
ML670 10266124658 27,000.00 27,000.00 09/20/96 08/20/26 359.61
ML670 10266124659 78,000.00 77,610.62 09/09/96 08/09/16 239.24
ML670 10266124853 17,200.00 17,200.00 09/05/96 08/05/11 179.11
ML670 10266124924 18,000.00 18,000.00 09/20/96 08/20/11 179.61
ML670 10266124980 135,000.00 135,000.00 08/22/96 07/22/11 178.65
ML670 10266124981 89,250.00 89,250.00 09/09/96 08/09/11 179.24
ML670 10266125005 46,200.00 45,918.76 09/05/96 08/05/11 179.11
ML670 10266125067 70,850.00 70,850.00 08/22/96 07/22/11 178.65
ML670 10266125137 74,400.00 74,400.00 08/17/96 07/17/11 178.49
ML670 10266125138 11,700.00 11,700.00 08/23/96 07/23/11 178.68
ML670 10266125139 76,400.00 76,012.46 09/16/96 08/16/26 359.47
ML670 10266125194 35,434.00 35,434.00 09/07/96 08/07/11 179.18
ML670 10266125201 20,000.00 20,000.00 09/12/96 08/12/11 179.34
ML670 10266125263 13,000.00 13,000.00 09/20/96 08/20/11 179.61
ML670 10266125275 12,500.00 12,500.00 09/23/96 08/23/11 179.70
ML670 10266125300 200,175.00 200,175.00 08/24/96 07/24/11 178.72
ML670 10266125311 16,000.00 16,000.00 09/19/96 08/19/11 179.57
ML670 10266125322 60,000.00 60,000.00 09/21/96 08/21/11 179.64
ML670 10266125383 91,800.00 91,800.00 09/28/96 08/28/11 179.87
ML670 10266125475 51,000.00 51,000.00 09/26/96 08/26/11 179.80
ML670 10266125487 234,000.00 234,000.00 09/27/96 08/27/11 179.84
ML670 10266125510 200,000.00 200,000.00 09/21/96 08/21/11 179.64
ML670 10266125564 74,000.00 74,000.00 08/23/96 07/23/11 178.68
ML670 10266125571 22,500.00 22,500.00 09/01/96 08/01/26 359.00
ML670 10266125587 97,200.00 97,200.00 10/01/96 09/01/11 180.00
ML670 10266125606 24,000.00 24,000.00 09/23/96 08/23/11 179.70
ML670 10266125660 43,000.00 43,000.00 09/06/96 08/06/16 239.15
ML670 10266125818 103,700.00 103,700.00 09/20/96 08/20/11 179.61
ML670 10266125849 49,000.00 49,000.00 09/07/96 08/07/16 239.18
ML670 10266125941 10,000.00 10,000.00 09/16/96 08/16/06 119.47
ML670 10266125998 123,700.00 123,700.00 09/23/96 08/23/11 179.70
ML670 10266126007 26,250.00 26,250.00 09/15/96 08/15/11 179.44
ML670 10266126090 25,724.00 25,724.00 08/25/96 07/25/11 178.75
ML670 10266126109 20,000.00 20,000.00 09/19/96 08/19/11 179.57
ML670 10266126111 114,500.00 114,500.00 08/26/96 07/26/11 178.78
ML670 10266126118 22,500.00 22,500.00 09/09/96 08/09/11 179.24
ML670 10266126135 15,000.00 15,000.00 09/02/96 08/02/11 179.01
ML670 10266126280 23,000.00 23,000.00 09/12/96 08/12/11 179.34
ML670 10266126316 40,500.00 40,500.00 09/02/96 08/02/11 179.01
ML670 10266126438 30,000.00 30,000.00 09/21/96 08/21/11 179.64
ML670 10266126472 18,000.00 18,000.00 09/08/96 08/08/11 179.21
ML670 10266126495 58,000.00 58,000.00 09/14/96 08/14/16 239.41
ML670 10266126505 38,000.00 38,000.00 09/19/96 08/19/11 179.57
ML670 10266126594 55,550.00 55,550.00 09/21/96 08/21/16 239.64
ML670 10266126612 33,000.00 33,000.00 09/06/96 08/06/11 179.15
<CAPTION>
Original Current Scheduled
Date LTV Mortgage Payment
Sale ID Account Due Ratio Rate Int & Prin
- ---------------------------------------------------------------------------------------------
ML670 10266124001 09/07/96 86.9 12.500 281.76
ML670 10266124065 09/21/96 77.5 11.500 402.06
ML670 10266124164 09/05/96 80.0 11.950 2,033.13
ML670 10266124173 09/05/96 84.9 12.750 341.56
ML670 10266124178 09/25/96 77.8 13.800 1,683.45
ML670 10266124328 09/26/96 89.9 11.000 409.18
ML670 10266124346 09/19/96 72.7 10.750 896.14
ML670 10266124350 09/21/96 77.9 11.490 556.12
ML670 10266124363 09/12/96 89.8 12.100 235.29
ML670 10266124393 09/23/96 90.0 10.990 646.59
ML670 10266124411 09/05/96 84.8 10.850 646.53
ML670 10266124425 09/16/96 84.8 10.000 662.00
ML670 10266124438 09/12/96 89.7 12.000 390.89
ML670 10266124478 09/01/96 80.0 15.100 433.65
ML670 10266124485 09/02/96 80.0 13.490 352.54
ML670 10266124558 09/09/96 63.8 10.750 392.33
ML670 10266124589 09/06/96 90.0 11.000 797.09
ML670 10266124658 09/20/96 62.7 11.990 277.52
ML670 10266124659 10/09/96 65.0 11.490 831.28
ML670 10266124853 09/05/96 89.9 12.300 209.76
ML670 10266124924 09/20/96 60.0 12.250 218.93
ML670 10266124980 08/22/96 75.0 10.700 1,255.13
ML670 10266124981 09/09/96 85.0 11.500 883.84
ML670 10266125005 10/05/96 74.8 11.650 462.81
ML670 10266125067 08/22/96 65.0 13.990 838.92
ML670 10266125137 09/17/96 80.0 11.300 725.44
ML670 10266125138 08/23/96 88.0 11.650 137.80
ML670 10266125139 10/16/96 89.9 11.200 739.14
ML670 10266125194 09/07/96 85.0 13.500 405.87
ML670 10266125201 09/12/96 71.4 10.250 217.99
ML670 10266125263 09/20/96 69.2 12.750 162.35
ML670 10266125275 09/23/96 78.6 10.250 136.24
ML670 10266125300 09/24/96 83.0 13.050 2,222.16
ML670 10266125311 09/19/96 84.8 12.500 197.20
ML670 10266125322 09/21/96 76.3 10.000 526.54
ML670 10266125383 09/28/96 85.0 11.990 943.56
ML670 10266125475 09/26/96 89.1 12.600 631.91
ML670 10266125487 09/27/96 90.0 11.000 2,228.44
ML670 10266125510 09/21/96 55.5 12.100 2,072.63
ML670 10266125564 08/23/96 79.5 11.700 873.89
ML670 10266125571 09/01/96 73.7 11.500 222.82
ML670 10266125587 10/01/96 90.0 12.650 1,048.70
ML670 10266125606 09/23/96 81.5 12.990 303.50
ML670 10266125660 09/06/96 85.0 11.600 461.53
ML670 10266125818 09/20/96 85.0 10.250 929.26
ML670 10266125849 09/07/96 79.9 10.900 502.44
ML670 10266125941 09/16/96 75.8 14.550 158.59
ML670 10266125998 09/23/96 74.9 9.650 1,053.70
ML670 10266126007 09/15/96 84.9 11.900 313.36
ML670 10266126090 08/25/96 90.0 11.950 307.90
ML670 10266126109 09/19/96 82.3 10.500 182.95
ML670 10266126111 08/26/96 65.4 10.450 1,262.14
ML670 10266126118 09/09/96 77.6 11.900 229.71
ML670 10266126135 09/02/96 83.6 11.900 179.06
ML670 10266126280 09/12/96 87.5 12.990 290.85
ML670 10266126316 09/02/96 85.0 12.990 447.69
ML670 10266126438 09/21/96 75.9 13.500 343.62
ML670 10266126472 09/08/96 15.5 10.450 163.98
ML670 10266126495 09/14/96 53.7 9.800 552.05
ML670 10266126505 09/19/96 84.4 11.990 455.82
ML670 10266126594 09/21/96 83.5 11.700 600.08
ML670 10266126612 09/06/96 77.8 11.490 385.29
</TABLE>
<PAGE>
Alliance Funding Company Page 28 9/16/96
A division of Superior Bank FSB
Sale Schedule
1996-3 Class 1 - Initial Pool of Fixed Rate Mortgages - Settlement 9/23/96
<TABLE>
<CAPTION>
Zip
Sale ID Account Name Address City State Code
- -----------------------------------------------------------------------------------------------------------------------------
<C> <C> <S> <C> <C> <C> <C>
ML670 10266126623 STAPEL VICTOR A 1015 HONEYLOCUST COURT COLORADO SPRINGS CO 80904
ML670 10266126626 WILLIAMS DEREK 3325 W HARMONT DR PHOENIX AZ 85051
ML670 10266126666 GARDNER ROGER D 885 WEST 370 SOUTH LOGAN UT 84321
ML670 10266126778 SEINSOTH HELLMUTH 4001 N 8TH AVENUE PHOENIX AZ 85013
ML670 10266126804 JACKSON CARMAULT B 5240 PONY CREEK CIRCLE COLORADO SPRINGS CO 80919
ML670 10266126836 VAROZ ERNESTO A 741 NORDIC DRIVE COLORADO SPRINGS CO 80916
ML670 10266126874 KIM SUN N 3041 MONTEREY DRIVE FLOSSMOOR IL 60422
ML670 10266126917 OCONNER C E 4821 DEVON CIRCLE NAPLES FL 33962
ML670 10266126956 BLAKE DONALD RAY 228 BILLY COVINGTON ROAD ROCKINGHAM NC 28379
ML670 10266127061 WITTE ROBERT BRUCE 6575 DAVIS ROAD MOUNT AIRY MD 21771
ML670 10266127078 KATZER JULIA L 7636 EAST CATALINA DRIVE SCOTTSDALE AZ 85251
ML670 10266127081 PETERSON RONALD KEITH 2932 WEST WEYMOUTH ROAD WEST VALLEY CITY UT 84119
ML670 10266127217 BUTLER ROBERT E SR 6400 WESLEY LANE ELKRIDGE MD 21227
ML670 10266127232 MORELAND KEITH L 6332 SOUTH FLORENCE WAY ENGLEWOOD CO 80111
ML670 10266127264 ECKHARDT FRANK B 6900 TOWBRIDGE RD FAYETTEVILLE NC 28306
ML670 10266127302 LUCKETT DONNA M 10231 S SANGAMON CHICAGO IL 60643
ML670 10266127311 MORROW HANNAH 5613 SOUTH CARPENTER ST. CHICAGO IL 60621
ML670 10266127315 COOMBS DAVID W 141 SCHOONER LANE LAKE BARRINGTON IL 60010
ML670 10266127354 REAGAN ROBERT M 2801 BEAVER STREET MC KEESPORT PA 15132
ML670 10266127463 HOLDERFIELD WILLIAM L 703 HUTTO ROAD NORTH FT MEYERS FL 33903
ML670 10266127467 KUSTAN JOHN L 2080 JAMES FARM ROAD STRATFORD CT 06497
ML670 10266127663 RICE EDWARD J 12125 MURPHY ROAD ELBERT CO 80106
ML670 10266127664 DONATHAN STEVEN O 1131 COLORADO AVENUE WEST COLORADO SPRINGS CO 80904
ML670 10266127667 BARNES TRENT D 6986 S AMMONS STREET LITTLETON CO 80123
ML670 10266127682 CLAYBURN GLEN E 573 SOUTH VAN BUREN STREET MIDVALE UT 84047
ML670 10266127690 WHITNEY KIRK GLEN 1173 SOUTH 780 WEST PAYSON UT 84651
ML670 10266127706 KOHLER PAUL B 1460 S KING COURT DENVER CO 80219
ML670 10266127776 SEVERANCE CLIFFORD E 3313 WRENN HOUSE COURT HERNDON VA 22071
ML670 10266127848 BOLES GIEL S 981 SQUARE DANCE LANE FOUNTAIN CO 80817
ML670 10266127851 SUTHERLAND MARK D 8301 SE 144TH DRIVE PORTLAND OR 97236
ML670 10266127866 ADAMS APRIL L 31747 124TH PLACE SE AUBURN WA 98092
ML670 10266127927 WARD KYLE W 1925 EAST SUMMER CREST COVE SANDY UT 84093
ML670 10266127934 CHANDLER-KUHN EVELYN 2431 PINEHURST EVERGREEN CO 80439
ML670 10266127991 ABEL MICHAEL 1088 EAST 5000 SOUTH SOUTH OGDEN UT 84403
ML670 10266127993 CLARK LOREE A 4935 SOUTH 2875 WEST ROY UT 84067
ML670 10266128013 GORDEN LESLIE BERYL 2362 SE 154TH AVENUE PORTLAND OR 97233
ML670 10266128044 FREARK CHRISTOPHER B 2635 ROXANNE COURT COLORADO SPRINGS CO 80922
ML670 10266128132 KINZER B TODD 4566 WEST 4985 SOUTH SALT LAKE CITY UT 84118
ML670 10266128144 WISER RONALD A 3846 SOUTH 4025 WEST HOOPER UT 84315
ML670 10266128196 PICARILLO MICHAEL P 405 ELMWOOD DRIVE COLORADO SPRINGS CO 80907
ML670 10266128210 STORATZ KEVIN WM 4086 WOODGLEN BLVD THORNTON CO 80233
ML670 10266128302 DEVEGA ESTEBAN 2718 SABAL PALM DRIVE MIRAMAR FL 33023
ML670 10266128303 WARDAK ABDUL Q 5308 NW 110 TH AVENUE CORAL SPRINGS FL 33076
ML670 10266128353 ARTUS JANIS C 887 E SEMINOLE DR VENICE FL 34293
ML670 10266128354 BELL JOHN B 2508 ALPINE DRIVE HELLERTOWN PA 18055
ML670 10266128475 MCALLISTER FRANK T 17316 TAYLORS LANDING ROAD SHARPSBURG MD 21782
ML670 10266128495 ELWOOD PATRICK F 390 12TH AVENUE NE NAPLES FL 33964
ML670 10266128691 DUREN AARON D VAN 2110 WEST 1225 NORTH LAYTON UT 84041
ML670 10266128788 PERRELL WALTER H JR 18904 LANSFORD DR HUDSON FL 34667
ML670 10266128835 GLICK JULIE MAE 3679 WEST JASMINE STREET WEST VALLEY CITY UT 84120
ML670 10266128985 IKA LEIONI T 12630 SOUTH 1565 EAST DRAPER UT 84020
ML670 10266129006 SCHRECK ROBERT L 3057 SOUTH BREEZE DRIVE MAGNA UT 84044
ML670 10266129166 LEE GERALDINE 5964 MARTIN LUTHER KING DR JACKSONVILLE FL 32219
ML670 10266129480 RUFFIN JOHNNIE L 3503 W IOWA CHICAGO IL 60651
-------------------------------------------
178 Sale Total
1,068 Total with Merrill Lynch
<CAPTION>
Principal Cut-off Date First
Balance at Principal Payment Maturity Rem
Sale ID Account Origination Balance Date Date Term
- ---------------------------------------------------------------------------------------------------------------------
<C> <C> <S> <C> <C> <C> <C>
ML670 10266126623 81,000.00 81,000.00 09/19/96 08/19/26 359.57
ML670 10266126626 24,360.00 24,360.00 09/01/96 08/01/16 239.00
ML670 10266126666 16,120.00 16,120.00 09/02/96 08/02/11 179.01
ML670 10266126778 16,000.00 16,000.00 09/05/96 08/05/11 179.11
ML670 10266126804 27,900.00 27,900.00 09/23/96 08/23/11 179.70
ML670 10266126836 91,800.00 91,800.00 09/27/96 08/27/26 359.84
ML670 10266126874 101,500.00 101,500.00 09/12/96 08/12/26 359.34
ML670 10266126917 49,300.00 49,300.00 09/23/96 08/23/11 179.70
ML670 10266126956 63,000.00 63,000.00 09/21/96 08/21/06 119.64
ML670 10266127061 40,000.00 40,000.00 09/22/96 08/22/11 179.67
ML670 10266127078 12,900.00 12,900.00 09/06/96 08/06/11 179.15
ML670 10266127081 47,400.00 47,273.42 09/07/96 08/07/11 179.18
ML670 10266127217 171,200.00 171,200.00 09/13/96 08/13/11 179.38
ML670 10266127232 60,000.00 60,000.00 09/23/96 08/23/11 179.70
ML670 10266127264 35,000.00 35,000.00 09/26/96 08/26/11 179.80
ML670 10266127302 51,000.00 51,000.00 09/14/96 08/14/16 239.41
ML670 10266127311 35,000.00 35,000.00 09/09/96 08/09/11 179.24
ML670 10266127315 50,000.00 50,000.00 09/19/96 08/19/16 239.57
ML670 10266127354 36,800.00 36,800.00 09/20/96 08/20/26 359.61
ML670 10266127463 51,100.00 51,100.00 09/26/96 08/26/11 179.80
ML670 10266127467 45,200.00 45,200.00 09/14/96 08/14/11 179.41
ML670 10266127663 61,000.00 61,000.00 09/26/96 08/26/16 239.80
ML670 10266127664 10,500.00 10,500.00 09/26/96 08/26/11 179.80
ML670 10266127667 42,000.00 42,000.00 09/12/96 08/12/11 179.34
ML670 10266127682 24,500.00 24,500.00 09/01/96 08/01/11 179.00
ML670 10266127690 17,770.00 17,770.00 09/01/96 08/01/11 179.00
ML670 10266127706 32,849.00 32,849.00 09/16/96 08/16/11 179.47
ML670 10266127776 25,000.00 25,000.00 09/21/96 08/21/06 119.64
ML670 10266127848 21,000.00 21,000.00 09/26/96 08/26/11 179.80
ML670 10266127851 181,050.00 181,050.00 09/16/96 08/16/26 359.47
ML670 10266127866 30,000.00 30,000.00 09/14/96 08/14/11 179.41
ML670 10266127927 64,250.00 64,250.00 09/21/96 08/21/11 179.64
ML670 10266127934 115,000.00 115,000.00 09/23/96 08/23/11 179.70
ML670 10266127991 21,953.00 21,953.00 09/05/96 08/05/11 179.11
ML670 10266127993 33,132.00 33,132.00 09/05/96 08/05/11 179.11
ML670 10266128013 33,165.00 33,165.00 09/16/96 08/16/11 179.47
ML670 10266128044 17,983.00 17,983.00 09/26/96 08/26/11 179.80
ML670 10266128132 11,000.00 11,000.00 09/06/96 08/06/11 179.15
ML670 10266128144 43,683.00 43,683.00 09/06/96 08/06/11 179.15
ML670 10266128196 90,000.00 90,000.00 09/26/96 08/26/11 179.80
ML670 10266128210 101,150.00 101,150.00 09/20/96 08/20/26 359.61
ML670 10266128302 17,000.00 17,000.00 09/05/96 08/05/11 179.11
ML670 10266128303 99,000.00 99,000.00 09/05/96 08/05/11 179.11
ML670 10266128353 48,000.00 48,000.00 09/26/96 08/26/26 359.80
ML670 10266128354 54,300.00 54,300.00 09/21/96 08/21/11 179.64
ML670 10266128475 19,600.00 19,600.00 09/21/96 08/21/11 179.64
ML670 10266128495 44,800.00 44,800.00 09/23/96 08/23/11 179.70
ML670 10266128691 37,600.00 37,600.00 09/09/96 08/09/16 239.24
ML670 10266128788 93,500.00 93,500.00 09/27/96 08/27/11 179.84
ML670 10266128835 23,000.00 23,000.00 09/12/96 08/12/16 239.34
ML670 10266128985 38,800.00 38,800.00 09/21/96 08/21/11 179.64
ML670 10266129006 46,815.00 46,815.00 09/13/96 08/13/16 239.38
ML670 10266129166 25,400.00 25,400.00 09/26/96 08/26/11 179.80
ML670 10266129480 107,800.00 107,800.00 09/15/96 08/15/11 179.44
--------------------------------------------------------- -------------
178 11,161,604.00 11,155,529.39 216.46
1,068 65,426,856.00 65,382,128.23 221.53
<CAPTION>
Original Current Scheduled
Date LTV Mortgage Payment
Sale ID Account Due Ratio Rate Int & Prin
- ---------------------------------------------------------------------------------------------
ML670 10266126623 09/19/96 81.0 11.000 771.38
ML670 10266126626 09/01/96 90.0 12.000 268.22
ML670 10266126666 09/02/96 84.7 12.990 203.85
ML670 10266126778 09/05/96 83.3 10.000 171.94
ML670 10266126804 09/23/96 90.0 12.250 292.36
ML670 10266126836 09/27/96 90.0 11.240 890.92
ML670 10266126874 09/12/96 89.9 12.250 1,063.61
ML670 10266126917 09/23/96 74.9 12.000 591.68
ML670 10266126956 09/21/96 90.0 10.700 857.16
ML670 10266127061 09/22/96 70.2 12.000 480.07
ML670 10266127078 09/06/96 90.0 11.750 130.21
ML670 10266127081 10/07/96 84.9 14.200 569.14
ML670 10266127217 09/13/96 85.0 13.690 1,986.57
ML670 10266127232 09/23/96 84.8 13.250 769.04
ML670 10266127264 09/26/96 89.9 10.500 386.89
ML670 10266127302 09/14/96 75.0 12.250 570.47
ML670 10266127311 09/09/96 70.0 11.650 412.21
ML670 10266127315 09/19/96 46.2 15.000 658.39
ML670 10266127354 09/20/96 80.0 12.400 389.90
ML670 10266127463 09/26/96 79.8 11.490 505.65
ML670 10266127467 09/14/96 89.9 13.000 500.00
ML670 10266127663 09/26/96 88.6 11.750 661.06
ML670 10266127664 09/26/96 75.3 13.000 132.85
ML670 10266127667 09/12/96 89.9 12.500 517.66
ML670 10266127682 09/01/96 89.6 12.600 303.56
ML670 10266127690 09/01/96 84.9 13.450 230.12
ML670 10266127706 09/16/96 85.0 12.750 356.97
ML670 10266127776 09/21/96 88.3 10.490 337.20
ML670 10266127848 09/26/96 89.7 11.750 248.67
ML670 10266127851 09/16/96 85.0 12.750 1,967.46
ML670 10266127866 09/14/96 83.4 13.990 399.32
ML670 10266127927 09/21/96 36.6 13.250 723.31
ML670 10266127934 09/23/96 76.2 11.500 1,138.84
ML670 10266127991 09/05/96 89.8 12.900 276.32
ML670 10266127993 09/05/96 84.9 13.450 429.06
ML670 10266128013 09/16/96 87.6 12.250 347.53
ML670 10266128044 09/26/96 85.0 13.250 230.49
ML670 10266128132 09/06/96 85.7 12.900 120.82
ML670 10266128144 09/06/96 84.7 13.450 565.69
ML670 10266128196 09/26/96 75.0 12.500 960.53
ML670 10266128210 09/20/96 85.0 12.750 1,099.19
ML670 10266128302 09/05/96 79.8 12.500 209.53
ML670 10266128303 09/05/96 79.5 12.750 1,075.83
ML670 10266128353 09/26/96 80.0 10.990 456.75
ML670 10266128354 09/21/96 80.8 13.750 632.66
ML670 10266128475 09/21/96 89.9 12.250 238.39
ML670 10266128495 09/23/96 79.9 13.650 518.44
ML670 10266128691 09/09/96 82.5 12.650 431.17
ML670 10266128788 09/27/96 69.2 11.990 961.03
ML670 10266128835 09/12/96 30.8 14.090 287.51
ML670 10266128985 09/21/96 80.0 14.500 475.13
ML670 10266129006 09/13/96 79.8 15.350 628.60
ML670 10266129166 09/26/96 59.9 11.490 296.56
ML670 10266129480 09/15/96 70.0 10.100 954.00
------------------ -------------------------------------------
178 78.6 11.913 119,292.48
1,068 77.7 11.583 685,913.38
</TABLE>
<PAGE>
Alliance Funding Company Page 29 9/16/96
A division of Superior Bank FSB
Sale Schedule
1996-3 Class 1 - Initial Pool of Fixed Rate Mortgages - Settlement 9/23/96
<TABLE>
<CAPTION>
Zip
Sale ID Account Name Address City State Code
- -----------------------------------------------------------------------------------------------------------------------------
<C> <C> <S> <C> <C> <C> <C>
SBCL6 10266109795 STEVENSON CLINTONIA 178 MESEROLE STREET BROOKLYN NY 11206
SBCL6 10266114761 CHUNG DANIEL L 1516-18 WEST ROSEMONT CHICAGO IL 60660
SBCL6 10266118153 LAGUNAS GERRARDO 622 WASHINGTON STREET WAUKEGAN IL 60085
SBCL6 10266118564 STERLING JANET 2169 PACIFIC STREET BROOKLYN NY 11233
SBCL6 10266118747 HOOSEIN PETER 215-28 HILLSIDE AVENUE QUEENS VILLAGE NY 11427
SBCL6 10266119213 TAM THOMAS 108-20 JAMAICA AVENUE RICHMOND HILL NY 11418
SBCL6 10266119653 JENKINS NATHANIEL 563 AMBOY STREET BROOKLYN NY 11212
SBCL6 10266120115 GANDARINHO JOSE 12-16 FERRY STREET SOUTH RIVER NJ 08882
SBCL6 10266120160 215 HOLDING CORP 215 EAST 3RD STREET BROOKLYN NY 10009
SBCL6 10266120390 CORP LC INTERVALE 877 INTERVALE AVENUE BRONX NY 10458
SBCL6 10266120878 NEV VENTURE ASSOCIATES OF 379 LAKE AVENUE ROCHESTER NY 14608
SBCL6 10266122141 GAYLE DELLA 890 JEFFERSON AVENUE BROOKLYN NY 11221
SBCL6 10266122295 BHOLA KARAMCHAND 321 MENAHAN STREET BROOKLYN NY 11237
SBCL6 10266123476 CAPORRINO DOUGLAS J 1317-1319 WILLOW AVENUE HOBOKEN NJ 07030
SBCL6 10266124109 REDDING DONALD 80 CENTRAL AVENUE PASSAIC NJ 07055
SBCL6 10266124133 PEREZ RAFAEL A 1532 N TALMAN CHICAGO IL 60622
SBCL6 10266125078 CORP/HONO ST JOHNS REALTY 1399 ST JOHNS PLACE BROOKLYN NY 11207
SBCL6 10266126146 GAIL BAKER 6601-6603 SOUTH KIMBARK CHICAGO IL 60637
SBCL6 10266127048 GIANNINI GAIL 68-72 & 76 WHEELER AVENUE PLEASANTVILLE NY 10570
-------------------------------------------
19 Sale Total
19 Total with Superior Retail
1,536 Grand Total
<CAPTION>
Principal Cut-off Date First
Balance at Principal Payment Maturity Rem
Sale ID Account Origination Balance Date Date Term
- ---------------------------------------------------------------------------------------------------------------------
<C> <C> <S> <C> <C> <C> <C>
SBCL6 10266109795 117,000.00 116,786.97 08/01/96 07/01/11 178.00
SBCL6 10266114761 150,000.00 149,944.36 08/01/96 07/01/11 178.00
SBCL6 10266118153 84,000.00 83,967.41 08/01/96 07/01/11 178.00
SBCL6 10266118564 147,000.00 147,000.00 10/01/96 09/01/11 180.00
SBCL6 10266118747 192,500.00 192,500.00 10/01/96 09/01/11 180.00
SBCL6 10266119213 172,250.00 172,250.00 09/01/96 08/01/11 179.00
SBCL6 10266119653 269,500.00 269,500.00 08/01/96 07/01/11 178.00
SBCL6 10266120115 157,500.00 157,156.84 08/01/96 07/01/11 178.00
SBCL6 10266120160 302,500.00 302,377.05 09/01/96 08/01/11 179.00
SBCL6 10266120390 110,500.00 110,268.11 09/01/96 08/01/11 179.00
SBCL6 10266120878 166,000.00 166,000.00 08/01/96 07/01/11 178.00
SBCL6 10266122141 92,950.00 92,886.74 08/01/96 07/01/11 178.00
SBCL6 10266122295 69,550.00 69,550.00 09/01/96 08/01/11 179.00
SBCL6 10266123476 200,000.00 200,000.00 09/01/96 08/01/11 179.00
SBCL6 10266124109 62,000.00 62,000.00 09/01/96 08/01/11 179.00
SBCL6 10266124133 83,000.00 83,000.00 10/01/96 09/01/11 180.00
SBCL6 10266125078 250,000.00 250,000.00 09/01/96 08/01/11 179.00
SBCL6 10266126146 113,700.00 113,700.00 10/01/96 09/01/11 180.00
SBCL6 10266127048 350,000.00 350,000.00 09/01/96 08/01/11 179.00
--------------------------------------------------------- -------------
19 3,089,950.00 3,088,887.48 178.84
19 3,089,950.00 3,088,887.48 178.84
1,536 93,620,319.00 93,528,661.75 218.78
<CAPTION>
Original Current Scheduled
Date LTV Mortgage Payment
Sale ID Account Due Ratio Rate Int & Prin
- ---------------------------------------------------------------------------------------------
SBCL6 10266109795 09/01/96 65.0 12.990 1,479.56
SBCL6 10266114761 10/01/96 50.0 14.000 1,805.64
SBCL6 10266118153 09/01/96 70.0 11.600 859.98
SBCL6 10266118564 10/01/96 70.0 12.300 1,580.92
SBCL6 10266118747 10/01/96 70.0 12.600 2,113.31
SBCL6 10266119213 09/01/96 65.0 11.100 1,700.71
SBCL6 10266119653 09/01/96 70.0 11.100 3,080.07
SBCL6 10266120115 10/01/96 63.0 11.100 1,800.04
SBCL6 10266120160 10/01/96 55.0 13.500 3,526.08
SBCL6 10266120390 10/01/96 65.0 11.500 1,290.85
SBCL6 10266120878 09/01/96 55.7 12.500 1,809.99
SBCL6 10266122141 11/01/96 55.0 14.500 1,154.59
SBCL6 10266122295 09/01/96 65.0 11.100 686.70
SBCL6 10266123476 09/01/96 31.7 12.100 2,413.22
SBCL6 10266124109 09/01/96 29.5 15.250 878.38
SBCL6 10266124133 10/01/96 54.6 13.500 967.49
SBCL6 10266125078 09/01/96 59.5 12.500 3,081.31
SBCL6 10266126146 10/01/96 64.9 13.200 1,453.58
SBCL6 10266127048 09/01/96 64.4 11.100 4,000.09
------------------ -------------------------------------------
19 59.8 12.306 35,682.51
19 59.8 12.306 35,682.51
1,536 76.5 11.577 983,262.93
</TABLE>
<PAGE>
Alliance Funding Company Page 1 9/16/96
A division of Superior Bank FSB
Sale Schedule B
1996-3 Class 2 - Initial Pool of Adjustable Rate Mortgages - Settlement 9/23/96
<TABLE>
<CAPTION>
Principal Type of Scheduled Cut-off Date Original
Balance at Mortgaged Payment Principal LTV
Sale ID Account Name Origination Property Int & Prin Balance Ratio
- ------------------------------------------------------------------------------------------------------------------------------------
<C> <C> <S> <C> <C> <C> <C> <C>
BS16 10216107013 SMITH ALTHEA 27,500.00 SF 264.49 27,480.83 55.0
BS16 10216110890 PETERSEN CONNIE R 141,100.00 SF 1,277.53 141,042.40 85.0
BS16 10216111292 JACOB NANCY L 95,400.00 SF 793.49 95,303.27 90.0
BS16 10216112864 GELETKA JOHN M 37,500.00 SF 367.79 37,475.24 39.4
BS16 10216117067 ABBOTT WARREN R 325,000.00 SF 2,942.57 324,867.33 84.4
BS16 10216117632 PONYICKY JAMES E 84,700.00 SF 735.49 84,661.52 70.0
BS16 10216117815 PENNINGTON JOHNNIE L 60,700.00 SF 560.93 60,676.52 84.8
BS16 10216117846 BUDZ JOSEPH P 75,000.00 SF 651.26 74,965.93 60.9
BS16 10216117862 CARTER KIM MITCHELL 118,500.00 SF 942.84 118,500.00 80.0
BS16 10216118075 FLORES RODOLFO 172,500.00 SF 1,545.77 172,427.44 84.9
BS16 10216118238 MURPHY JAMES DANIEL 38,430.00 CD 337.26 38,412.99 70.0
BS16 10216118923 MILLER CHARLES ALBERT 103,900.00 SF 845.36 103,844.71 79.9
BS16 10216119108 ACOSTA ARSENIO 122,400.00 SF 1,018.06 122,338.19 90.0
BS16 10216119181 MCILVAIN TIMOTHY A 91,800.00 SF 814.10 91,760.46 85.0
BS16 10216119762 PECORELLI DAVID M 112,000.00 SF 951.99 111,892.25 74.6
BS16 10216119770 GRONLUND DALE 75,000.00 SF 637.49 74,927.85 75.0
BS16 10216119814 STICE FRANK C 30,700.00 SF 263.76 30,649.44 74.8
BS16 10216119821 HAINES JEFFREY 135,000.00 SF 1,298.40 134,953.16 76.4
BS16 10216119827 VAN GEERTRUY ROBERT A 85,000.00 SF 833.65 84,972.08 52.7
BS16 10216119873 COUCH TROY G 105,000.00 SF 911.77 104,904.19 65.6
BS16 10216119902 VINCENT DOROTHY J 80,500.00 MF 640.49 80,289.95 70.0
BS16 10216119903 UMEK LUCY C 45,000.00 SF 390.76 45,000.00 47.3
BS16 10216120289 ESTER HATTIE 43,000.00 MF 381.33 42,962.81 53.7
BS16 10216120664 KIDD MARGARET L 133,000.00 SF 1,010.90 132,917.33 78.6
BS16 10216120670 SINKLER-SMITH LAURA 262,500.00 SF 1,857.96 262,500.00 70.0
BS16 10216120745 BROWN MARY C 20,000.00 SF 173.67 19,990.91 39.6
BS16 10216120746 WILLIAMS ANNIE 68,000.00 SF 628.39 67,973.69 85.0
BS16 10216121167 PARTOLLA DHIAN SINGH 80,000.00 SF 650.91 79,957.42 80.0
BS16 10216121228 RAMIREZ DONNA 37,800.00 CD 300.75 37,778.81 70.0
BS16 10216121229 MILLER RICHARD L 290,000.00 SF 2,052.60 289,790.11 80.5
BS16 10216121239 KING RUESELLAE C 57,600.00 SF 458.29 57,548.91 80.0
BS16 10216121241 GALINSKI DAVID 74,800.00 MF 733.61 74,775.43 80.0
BS16 10216121462 CURTIS STEVE 88,900.00 SF 723.32 88,805.02 69.4
BS16 10216122099 JACOBS WADE S 143,000.00 SF 1,163.50 142,923.90 73.7
BS16 10216122208 NGUYEN MIKE 263,700.00 SF 2,145.55 263,559.67 79.6
BS16 10216122528 BEDJAKIAN DERTAD 140,250.00 SF 1,269.83 140,192.75 85.0
BS16 10216122973 FERGUSON GEARY ROBERT 93,415.00 SF 845.79 93,322.65 85.0
--------------------------------------------------------------------- -------------------------------------------
37 Sale Total 3,958,595.00 33,421.65 3,956,345.16 76.9
</TABLE>
Next Current Property
Adjustment Mortgage Value at Owner
Sale ID Account Date Rate Origination Occupied
- --------------------------------------------------------------------------------
BS16 10216107013 12/01/96 11.125 50,000.00 N
BS16 10216110890 01/01/97 10.375 166,000.00 Y
BS16 10216111292 01/01/97 9.375 106,000.00 Y
BS16 10216112864 01/01/97 11.375 95,000.00 Y
BS16 10216117067 01/01/97 10.375 385,000.00 Y
BS16 10216117632 01/01/97 9.875 121,000.00 Y
BS16 10216117815 01/01/97 10.625 71,500.00 Y
BS16 10216117846 01/01/97 9.875 123,000.00 Y
BS16 10216117862 02/01/97 8.875 148,000.00 Y
BS16 10216118075 01/01/97 10.250 203,000.00 Y
BS16 10216118238 01/01/97 10.000 54,900.00 Y
BS16 10216118923 01/01/97 9.125 129,900.00 Y
BS16 10216119108 01/01/97 9.375 136,000.00 Y
BS16 10216119181 01/01/97 10.125 108,000.00 Y
BS16 10216119762 01/01/97 9.625 150,000.00 Y
BS16 10216119770 01/01/97 9.625 100,000.00 Y
BS16 10216119814 01/01/97 9.750 41,000.00 Y
BS16 10216119821 01/01/97 11.125 176,500.00 Y
BS16 10216119827 01/01/97 11.375 161,000.00 Y
BS16 10216119873 01/01/97 9.875 160,000.00 Y
BS16 10216119902 01/01/97 8.875 115,000.00 N
BS16 10216119903 01/01/97 9.875 95,000.00 Y
BS16 10216120289 01/01/97 10.125 80,000.00 Y
BS16 10216120664 01/01/97 8.375 169,000.00 Y
BS16 10216120670 02/01/97 7.625 375,000.00 Y
BS16 10216120745 01/01/97 9.875 50,500.00 Y
BS16 10216120746 01/01/97 10.625 80,000.00 Y
BS16 10216121167 01/01/97 9.125 100,000.00 Y
BS16 10216121228 01/01/97 8.875 54,000.00 Y
BS16 10216121229 01/01/97 7.625 360,000.00 Y
BS16 10216121239 01/01/97 8.875 72,000.00 Y
BS16 10216121241 01/01/97 11.375 93,500.00 Y
BS16 10216121462 01/01/97 9.125 128,000.00 N
BS16 10216122099 01/01/97 9.125 194,000.00 Y
BS16 10216122208 02/01/97 9.125 331,000.00 Y
BS16 10216122528 01/01/97 10.375 165,000.00 Y
BS16 10216122973 01/01/97 10.375 109,900.00 Y
------------------ ------------------------
37 9.532 5,257,700.00
<PAGE>
Alliance Funding Company Page 2 9/16/96
A division of Superior Bank FSB
Sale Schedule B
1996-3 Class 2 - Initial Pool of Adjustable Rate Mortgages - Settlement 9/23/96
<TABLE>
<CAPTION>
Principal Type of Scheduled Cut-off Date Original
Balance at Mortgaged Payment Principal LTV
Sale ID Account Name Origination Property Int & Prin Balance Ratio
- ------------------------------------------------------------------------------------------------------------------------------------
<C> <C> <S> <C> <C> <C> <C> <C>
BS17 10216105758 SCHAFFERMAN LESLIE E 54,600.00 SF 525.13 54,542.61 65.0
BS17 10216107959 SHAPIRO DAVID A 190,000.00 SF 1,477.80 189,887.83 67.3
BS17 10216109055 HOYT NANCY T 184,000.00 SF 1,874.96 183,836.01 80.0
BS17 10216110498 RIVERA MYRA 75,000.00 SF 583.34 74,911.12 40.5
BS17 10216110501 NEPOMNIASHCHY VLADIMIR 380,000.00 SF 3,023.45 379,786.97 80.0
BS17 10216110698 DISISTO VINCENT 200,175.00 SF 1,831.08 199,915.21 85.0
BS17 10216111110 PARROTT REBECCA L 87,500.00 SF 759.81 87,420.15 70.0
BS17 10216113557 GUILLAUMETTE JULIENNE 64,200.00 CD 482.32 64,117.83 75.9
BS17 10216113839 MACKEY SHIRLEY 68,000.00 MF 654.01 67,976.41 80.0
BS17 10216115026 GALES ROMAN 100,000.00 SF 1,009.41 99,969.76 80.0
BS17 10216115773 MYERS FREDRIC FRANK 59,200.00 SF 597.57 59,164.02 80.0
BS17 10216115862 HARLOW JEAN E 88,400.00 SF 800.38 88,363.91 85.0
BS17 10216116188 BLEHART JAMES 240,000.00 SF 1,909.55 239,865.45 77.4
BS17 10216118196 LYONS JUDY M 181,400.00 MF 1,813.71 181,343.60 65.9
BS17 10216118333 SAWWAN OSMAN 492,000.00 SF 3,914.57 491,446.32 83.3
BS17 10216118952 RIDHA FOUAD 60,700.00 MF 450.70 60,660.29 83.1
BS17 10216119652 MARTIN ELIZABETH A 95,600.00 SF 803.86 95,505.57 80.0
BS17 10216121045 ERENBERG STEPHEN 196,800.00 SF 1,855.61 196,800.00 80.0
BS17 10216121056 CUSIMANO ALFONSO P 97,600.00 SF 820.67 97,502.95 89.5
BS17 10216121629 PEREZ DELILAH N 97,500.00 SF 793.29 97,500.00 78.0
BS17 10216122125 CARLOW CHARLES R 96,000.00 SF 905.17 95,964.00 58.1
BS17 10216122427 MADSEN LAURELYN 111,350.00 SF 1,049.91 111,309.20 85.0
BS17 10216122929 WALTON KEVIN F 184,125.00 SF 1,498.10 184,027.02 75.0
--------------------------------------------------------------------- -----------------------------------------
23 Sale Total 3,404,150.00 29,434.40 3,401,816.23 77.4
60 Total with Banco Santander 7,362,745.00 62,856.05 7,358,161.39 77.1
</TABLE>
Next Current Property
Adjustment Mortgage Value at Owner
Sale ID Account Date Rate Origination Occupied
- --------------------------------------------------------------------------------
BS17 10216105758 12/01/96 11.125 84,000.00 Y
BS17 10216107959 01/01/97 8.625 282,000.00 Y
BS17 10216109055 11/01/96 11.875 230,000.00 Y
BS17 10216110498 01/01/97 8.625 185,000.00 Y
BS17 10216110501 01/01/97 8.875 475,000.00 Y
BS17 10216110698 01/01/97 10.500 235,500.00 Y
BS17 10216111110 01/01/97 9.875 125,000.00 Y
BS17 10216113557 12/01/96 8.250 84,500.00 Y
BS17 10216113839 01/01/97 11.125 85,000.00 Y
BS17 10216115026 01/01/97 11.750 125,000.00 Y
BS17 10216115773 01/01/97 11.750 74,000.00 Y
BS17 10216115862 01/01/97 10.375 104,000.00 Y
BS17 10216116188 01/01/97 8.875 310,000.00 Y
BS17 10216118196 01/01/97 11.625 275,000.00 Y
BS17 10216118333 12/01/96 8.875 590,000.00 Y
BS17 10216118952 01/01/97 8.125 73,000.00 Y
BS17 10216119652 01/01/97 9.500 119,500.00 Y
BS17 10216121045 02/01/97 10.875 246,000.00 Y
BS17 10216121056 01/01/97 9.500 109,000.00 Y
BS17 10216121629 02/01/97 9.125 125,000.00 Y
BS17 10216122125 01/01/97 10.875 165,000.00 Y
BS17 10216122427 01/01/97 10.875 131,000.00 Y
BS17 10216122929 01/01/97 9.125 245,500.00 Y
------------------ --------------------------
23 9.809 4,478,000.00
60 9.660 9,735,700.00
<PAGE>
Alliance Funding Company Page 3 9/16/96
A division of Superior Bank FSB
Sale Schedule B
1996-3 Class 2 - Initial Pool of Adjustable Rate Mortgages - Settlement 9/23/96
<TABLE>
<CAPTION>
Principal Type of Scheduled Cut-off Date Original
Balance at Mortgaged Payment Principal LTV
Sale ID Account Name Origination Property Int & Prin Balance Ratio
- ------------------------------------------------------------------------------------------------------------------------------------
<C> <C> <S> <C> <C> <C> <C> <C>
ML130 10216104580 CUNDARI LINDA 115,000.00 SF 1,009.21 115,000.00 82.1
ML130 10216110782 JULIANO MICHAEL A 163,200.00 SF 1,538.80 163,200.00 80.0
ML130 10216111589 MYERS CARYL R 75,000.00 SF 651.26 75,000.00 75.0
ML130 10216113375 LUKOWIAK JAMES A 116,000.00 SF 851.17 115,843.80 80.0
ML130 10216113438 HATCH D MICHAEL 95,200.00 SF 774.58 95,200.00 78.6
ML130 10216115710 YOUNG KIRK A 114,300.00 SF 961.10 114,300.00 90.0
ML130 10216115859 NOLAND JOHN C 137,700.00 SF 1,221.15 137,560.86 85.0
ML130 10216115984 ZAMAYEV VLADIMIR 180,000.00 SF 1,563.03 179,918.22 80.0
ML130 10216116055 DELLER TAMERITH J 79,900.00 SF 730.88 79,868.25 85.0
ML130 10216116378 MCMAHON MARK D 80,000.00 SF 601.01 80,000.00 29.0
ML130 10216117811 REYNOLDS DOROTHY 108,000.00 MF 898.29 107,945.46 90.0
ML130 10216118114 ROSADO FRANK 90,000.00 SF 708.03 89,826.25 90.0
ML130 10216119269 KAZDAL JOHN R 298,500.00 SF 2,268.82 298,314.46 75.0
ML130 10216119732 MUHAMMAD HANAN Z 54,000.00 SF 458.99 53,973.13 90.0
ML130 10216119793 D'AIELLO FRANK JOHN III 56,000.00 SF 486.28 55,948.89 74.6
ML130 10216119807 KNOX PHYLLIS O 96,000.00 SF 941.53 95,968.47 80.0
ML130 10216119963 THOMPSON JONATHON A 108,800.00 SF 1,129.61 108,800.00 80.0
ML130 10216120213 HOLMAN STEVEN R 145,000.00 SF 1,089.34 144,907.54 77.5
ML130 10216120226 BRUNO BIBIANO B 101,600.00 MF 996.46 101,566.62 80.0
ML130 10216120253 GLOCK WAYNE 53,000.00 SF 519.81 52,982.59 54.0
ML130 10216120362 BRANNAN JUDITH M 144,000.00 SF 1,481.21 143,958.79 80.0
ML130 10216120514 MCFARLAND HENRY D JR 85,000.00 SF 769.60 85,000.00 85.0
ML130 10216120704 PREWITT RICHARD M 128,200.00 SF 1,077.98 128,200.00 89.9
ML130 10216120728 SALGADO PEDRO 89,000.00 SF 872.88 88,970.77 77.3
ML130 10216120741 SCOTT WILLIAM L 87,000.00 SF 755.46 86,960.48 63.9
ML130 10216120752 NEWALL-WATKINS E SARAH 108,000.00 SF 1,059.23 107,963.75 80.0
ML130 10216120758 TEAL JAMES R 88,000.00 SF 863.07 88,000.00 79.6
ML130 10216120801 MCMAHON RICHARD 53,900.00 SF 463.08 53,874.86 64.9
ML130 10216120981 GERBER RANDY A 100,000.00 SF 813.63 99,910.42 80.0
ML130 10216121121 CRO JR JAMES J 33,000.00 CD 265.53 32,981.97 45.2
ML130 10216121564 JOHANSEN ALFRED W 47,500.00 SF 377.93 47,500.00 43.5
ML130 10216121649 WILKES LEONARD 75,000.00 SF 651.26 74,965.93 48.0
ML130 10216121673 HOWARD GERALD G 110,000.00 SF 1,078.84 109,963.87 54.4
ML130 10216121682 MAYHEW WINSTON N 68,000.00 SF 603.04 67,970.71 85.0
ML130 10216121806 NASSIM MOHD 276,250.00 MF 2,552.82 276,250.00 85.0
ML130 10216121833 BALTZAN DAVID M 96,000.00 SF 905.17 95,964.83 80.0
ML130 10216121931 IRVINE JOE C 111,600.00 SF 887.94 111,537.44 90.0
ML130 10216121943 MOORE CHONG YE 157,250.00 SF 1,542.25 157,198.34 85.0
ML130 10216122215 BOLDEN-MAYS RUTH M 225,250.00 SF 2,039.43 225,158.04 85.0
ML130 10216122221 WELCH PAMELA J 54,700.00 SF 469.96 54,700.00 74.9
ML130 10216122385 WONG FRANCIS K 279,650.00 SF 2,742.71 279,558.14 83.8
ML130 10216122443 PETHEL VICKI L 87,750.00 SF 810.90 87,716.05 70.2
ML130 10216122457 FRANK TRACEY D 260,525.00 SF 2,383.12 260,525.00 85.0
ML130 10216122485 CHOUCAIR HATEM 68,000.00 SF 516.85 67,957.73 82.9
ML130 10216122610 BADE BRUCE E 161,000.00 SF 1,353.78 160,760.53 74.8
ML130 10216122677 MOOREHEAD LISA L 229,500.00 SF 1,805.48 229,500.00 90.0
ML130 10216122771 KETRON LAWRENCE 165,750.00 SF 1,485.29 165,750.00 85.0
ML130 10216123233 BISSESSAR LENTI 146,700.00 SF 1,246.93 146,700.00 90.0
ML130 10216123586 BASMA ALI 66,600.00 SF 566.09 66,600.00 83.2
ML130 10216123721 MORRAR RAJAE 100,000.00 SF 914.74 99,960.26 84.0
ML130 10216123726 JOHNSON JOHN K 150,600.00 SF 1,293.89 150,529.74 74.9
ML130 10216124377 SIDDOWAY RICHARD M 100,000.00 SF 777.79 100,000.00 57.1
ML130 10216124387 LAWRENCE RICHARD H 57,000.00 SF 474.10 56,845.31 69.5
ML130 10216124865 LARDIE DELANO F 82,800.00 MF 658.79 82,800.00 90.0
ML130 10216125053 DRISKILL ROGER 88,000.00 SF 676.64 88,000.00 79.2
ML130 10216125179 NOBLIN ROBIN K 119,000.00 SF 1,088.54 118,952.71 86.2
ML130 10216125342 BECK CHARLES E JR 114,750.00 SF 1,038.95 114,750.00 85.0
--------------------------------------------------------------------- -------------------------------------------
57 Sale Total 6,682,475.00 58,764.25 6,680,060.21 79.5
</TABLE>
Next Current Property
Adjustment Mortgage Value at Owner
Sale ID Account Date Rate Origination Occupied
- --------------------------------------------------------------------------------
ML130 10216104580 02/01/97 10.000 140,000.00 Y
ML130 10216110782 02/01/97 10.875 204,000.00 Y
ML130 10216111589 02/01/97 9.875 100,000.00 Y
ML130 10216113375 01/01/97 8.000 145,000.00 Y
ML130 10216113438 02/01/97 9.125 121,000.00 Y
ML130 10216115710 02/01/97 9.500 127,000.00 Y
ML130 10216115859 01/01/97 10.125 162,000.00 Y
ML130 10216115984 01/01/97 9.875 225,000.00 Y
ML130 10216116055 02/01/97 10.500 94,000.00 Y
ML130 10216116378 02/01/97 8.250 275,000.00 Y
ML130 10216117811 01/01/97 9.375 120,000.00 Y
ML130 10216118114 01/01/97 8.750 100,000.00 Y
ML130 10216119269 01/01/97 8.375 398,000.00 Y
ML130 10216119732 01/01/97 9.625 60,000.00 Y
ML130 10216119793 01/01/97 9.875 75,000.00 Y
ML130 10216119807 01/01/97 11.375 120,000.00 Y
ML130 10216119963 02/01/97 12.125 136,000.00 Y
ML130 10216120213 01/01/97 8.250 187,000.00 Y
ML130 10216120226 01/01/97 11.375 127,000.00 Y
ML130 10216120253 01/01/97 11.375 98,000.00 Y
ML130 10216120362 01/01/97 12.000 180,000.00 Y
ML130 10216120514 02/01/97 10.375 100,000.00 Y
ML130 10216120704 02/01/97 9.500 142,500.00 Y
ML130 10216120728 01/01/97 11.375 115,000.00 Y
ML130 10216120741 01/01/97 9.875 136,000.00 Y
ML130 10216120752 01/01/97 11.375 135,000.00 Y
ML130 10216120758 02/01/97 11.375 110,500.00 Y
ML130 10216120801 01/01/97 9.750 83,000.00 Y
ML130 10216120981 02/01/97 9.125 125,000.00 Y
ML130 10216121121 01/01/97 9.000 73,000.00 Y
ML130 10216121564 02/01/97 8.875 109,000.00 Y
ML130 10216121649 01/01/97 9.875 156,000.00 Y
ML130 10216121673 01/01/97 11.375 202,000.00 Y
ML130 10216121682 01/01/97 10.125 80,000.00 Y
ML130 10216121806 02/01/97 10.625 325,000.00 Y
ML130 10216121833 01/01/97 10.875 120,000.00 Y
ML130 10216121931 01/01/97 8.875 124,000.00 Y
ML130 10216121943 01/01/97 11.375 185,000.00 Y
ML130 10216122215 02/01/97 10.375 265,000.00 Y
ML130 10216122221 02/01/97 9.750 73,000.00 Y
ML130 10216122385 01/01/97 11.375 333,500.00 Y
ML130 10216122443 01/01/97 10.625 125,000.00 Y
ML130 10216122457 02/01/97 10.500 306,500.00 Y
ML130 10216122485 01/01/97 8.375 82,000.00 Y
ML130 10216122610 02/01/97 9.500 215,000.00 Y
ML130 10216122677 02/01/97 8.750 255,000.00 Y
ML130 10216122771 02/01/97 10.250 195,000.00 Y
ML130 10216123233 02/01/97 9.625 163,000.00 Y
ML130 10216123586 02/01/97 9.625 80,000.00 Y
ML130 10216123721 02/01/97 10.500 119,000.00 Y
ML130 10216123726 02/01/97 9.750 201,000.00 Y
ML130 10216124377 02/01/97 8.625 175,000.00 Y
ML130 10216124387 02/01/97 9.375 82,000.00 Y
ML130 10216124865 02/01/97 8.875 92,000.00 Y
ML130 10216125053 02/01/97 8.500 111,000.00 Y
ML130 10216125179 02/01/97 10.500 138,000.00 Y
ML130 10216125342 02/01/97 10.375 135,000.00 Y
------------------ -------------------------
57 10.011 8,661,000.00
<PAGE>
Alliance Funding Company Page 4 9/16/96
A division of Superior Bank FSB
Sale Schedule B
1996-3 Class 2 - Initial Pool of Adjustable Rate Mortgages - Settlement 9/23/96
<TABLE>
<CAPTION>
Principal Type of Scheduled Cut-off Date Original
Balance at Mortgaged Payment Principal LTV
Sale ID Account Name Origination Property Int & Prin Balance Ratio
- ------------------------------------------------------------------------------------------------------------------------------------
<C> <C> <S> <C> <C> <C> <C> <C>
ML131 10216108026 CUTOLO WILLIAM 150,000.00 SF 1,274.98 149,782.71 83.3
ML131 10216108111 MOON TIMOTHY 43,200.00 SF 363.25 43,135.74 90.0
ML131 10216108254 MARTINEZ ROBIN GUY 153,000.00 SF 1,244.86 152,918.58 90.0
ML131 10216109808 ENOT STEPHEN C 112,000.00 MF 951.99 111,837.73 80.0
ML131 10216110854 GOUMAS DOUGLAS 225,000.00 SF 1,750.03 224,867.16 90.0
ML131 10216111505 MASTRACCI FABIO 148,665.00 MF 1,373.81 148,607.49 85.0
ML131 10216112579 RIVERS ANN 136,000.00 SF 1,412.01 135,953.16 80.0
ML131 10216113614 HUTCHINSON LENNOX GARY 74,900.00 CD 636.64 74,864.12 70.0
ML131 10216113736 LEMELIN THEODORE 72,000.00 SF 618.59 71,966.41 80.0
ML131 10216114623 LANE GERRICK D 80,000.00 MF 822.89 79,977.11 80.0
ML131 10216114898 IANDOLO JOSEPH 69,600.00 SF 566.29 69,600.00 80.0
ML131 10216115124 COLE ROGER L 62,100.00 SF 522.17 62,038.67 90.0
ML131 10216115226 CUEVAS RICARDO 120,800.00 SF 1,071.28 120,747.97 80.0
ML131 10216115395 PERAGINE MARK 107,550.00 SF 855.72 107,489.70 89.6
ML131 10216115713 MCCONNELL GEORGE G 195,000.00 SF 1,604.22 195,000.00 75.0
ML131 10216115726 GRIMALDO DEBRA 292,500.00 SF 3,036.87 292,418.60 64.2
ML131 10216115731 MCGOWAN EDWARD M JR 84,000.00 SF 744.93 83,963.82 70.0
ML131 10216116227 PETERSON JEFFREY SCOTT 80,000.00 MF 679.99 79,961.68 80.0
ML131 10216116330 RUBENSTEIN HOWARD 204,000.00 MF 1,479.14 203,718.28 80.0
ML131 10216117094 KIMMERLE JOHN 100,000.00 SF 933.48 100,000.00 80.0
ML131 10216117192 WHARTON HAZEL L 109,650.00 SF 1,075.41 109,613.98 85.0
ML131 10216117214 MINOTT EGBERT 169,915.00 MF 1,570.18 169,849.28 85.0
ML131 10216118367 WRIGHT LEROY 72,000.00 SF 611.99 71,965.51 90.0
ML131 10216118744 ALLEVA MICHAEL 130,305.00 SF 1,216.37 130,305.00 85.0
ML131 10216118875 TASSELY SUSAN MARIE 72,800.00 SF 618.79 72,765.13 65.0
ML131 10216118879 ORLANDINO MARC A 184,500.00 SF 1,602.10 184,416.18 89.1
ML131 10216119147 VOLOSOV YELENA 50,000.00 CD 457.37 49,980.13 34.9
ML131 10216119303 RIZKA KHALID 54,000.00 SF 400.95 53,964.68 65.0
ML131 10216119326 BERNARD JULIO 112,800.00 SF 1,042.38 112,800.00 80.0
ML131 10216119418 DONOFRIO MICHAEL M 99,000.00 SF 850.56 98,907.26 86.8
ML131 10216119596 THURMOND JAMES D 137,334.00 SF 1,320.86 137,286.34 84.9
ML131 10216120035 UNTERKOEFLER STEVEN J 85,500.00 SF 726.74 85,500.00 90.0
ML131 10216120202 JOHNSON WILLIAM O 206,600.00 SF 1,889.85 206,517.90 74.9
ML131 10216120384 BRENNER STACEY A 108,000.00 SF 840.01 108,000.00 90.0
ML131 10216120399 HOMAN BRIAN G 135,000.00 SF 1,209.74 134,943.39 90.0
ML131 10216120404 RYAN MICHAEL P 64,000.00 SF 597.43 63,975.90 80.0
ML131 10216120501 SARNELLI BARBARA BETH 31,800.00 CD 293.86 31,800.00 50.0
ML131 10216120503 BENTIL EMMANUEL K 238,500.00 CD 1,688.09 238,500.00 74.8
ML131 10216120679 EGNER LEE J 120,000.00 SF 954.77 119,932.73 80.0
ML131 10216120813 IBRAHIM YACOUB 85,000.00 SF 646.06 84,893.97 84.1
ML131 10216120956 CAMPBELL BRIAN K 140,000.00 SF 1,215.69 139,936.39 73.6
ML131 10216121110 MARINO FRANCIS P 112,000.00 SF 1,077.19 112,000.00 80.0
ML131 10216121123 GILL NORMAN R 123,750.00 MF 1,074.58 123,693.78 75.0
ML131 10216121162 BRIDGE KATHERINE MICHELLE 58,500.00 SF 497.24 58,443.73 90.0
ML131 10216121277 AWADA KHODR 107,100.00 MF 814.04 107,033.43 85.0
ML131 10216121400 MERLINO ANGELO M 131,750.00 SF 1,192.87 131,696.22 85.0
ML131 10216121566 INGARRA JOSEPH 146,700.00 SF 1,273.87 146,633.35 90.0
ML131 10216121750 KNOBLOCH KENNETH S 116,200.00 SF 822.46 116,115.89 74.9
ML131 10216121785 LIVOLSI JOHN 139,000.00 MF 1,470.02 138,963.42 64.9
ML131 10216121846 CRUZ JEREMY 142,800.00 SF 1,292.92 142,741.71 85.0
ML131 10216121992 LANGE RONALD 46,000.00 CD 321.64 46,000.00 74.1
ML131 10216122252 INTYRE DARLENE MC 43,200.00 SF 423.69 43,185.81 80.0
ML131 10216122321 GARCIA JOSE B 170,000.00 SF 1,203.25 169,876.96 85.0
ML131 10216122388 CANCHOLA MAURICE E 76,000.00 SF 681.04 75,897.90 80.0
ML131 10216122640 PETRUZZELLI THERESA M 136,000.00 SF 1,106.54 135,927.63 80.0
ML131 10216122853 BONFELD HARRIET 341,000.00 SF 2,898.46 340,836.64 62.6
ML131 10216122931 LAZZARI SALVATORE 100,000.00 SF 868.35 100,000.00 58.8
ML131 10216123050 AL-LAMY KADHUM 67,500.00 SF 573.74 67,405.82 90.0
ML131 10216123087 CITRO ANNMARIE 188,500.00 SF 1,848.74 188,375.58 65.0
ML131 10216123263 STRINCOSKI JOHN 110,000.00 SF 965.33 110,000.00 68.3
</TABLE>
Next Current Property
Adjustment Mortgage Value at Owner
Sale ID Account Date Rate Origination Occupied
- --------------------------------------------------------------------------------
ML131 10216108026 11/01/96 9.625 180,000.00 Y
ML131 10216108111 12/01/96 9.500 48,000.00 Y
ML131 10216108254 01/01/97 9.125 170,000.00 Y
ML131 10216109808 12/01/96 9.625 140,000.00 Y
ML131 10216110854 02/01/97 8.625 250,000.00 Y
ML131 10216111505 01/01/97 10.625 174,900.00 Y
ML131 10216112579 01/01/97 12.125 170,000.00 Y
ML131 10216113614 01/01/97 9.625 107,000.00 Y
ML131 10216113736 01/01/97 9.750 90,000.00 Y
ML131 10216114623 01/01/97 12.000 100,000.00 Y
ML131 10216114898 02/01/97 9.125 87,000.00 Y
ML131 10216115124 01/01/97 9.500 69,000.00 Y
ML131 10216115226 02/01/97 10.125 151,000.00 Y
ML131 10216115395 01/01/97 8.875 120,000.00 Y
ML131 10216115713 02/01/97 9.250 260,000.00 Y
ML131 10216115726 01/01/97 12.125 455,000.00 Y
ML131 10216115731 02/01/97 10.125 120,000.00 Y
ML131 10216116227 01/01/97 9.625 100,000.00 Y
ML131 10216116330 12/01/96 7.875 255,000.00 Y
ML131 10216117094 02/01/97 10.750 125,000.00 Y
ML131 10216117192 01/01/97 11.375 129,000.00 Y
ML131 10216117214 02/01/97 10.625 199,900.00 Y
ML131 10216118367 02/01/97 9.625 80,000.00 Y
ML131 10216118744 02/01/97 10.750 153,300.00 Y
ML131 10216118875 02/01/97 9.625 112,000.00 Y
ML131 10216118879 01/01/97 9.875 207,000.00 Y
ML131 10216119147 01/01/97 10.500 143,000.00 Y
ML131 10216119303 01/01/97 8.125 83,000.00 Y
ML131 10216119326 02/01/97 10.625 141,000.00 Y
ML131 10216119418 01/01/97 9.750 114,000.00 Y
ML131 10216119596 01/01/97 11.125 161,570.00 Y
ML131 10216120035 02/01/97 9.625 95,000.00 Y
ML131 10216120202 01/01/97 10.500 275,500.00 Y
ML131 10216120384 02/01/97 8.625 120,000.00 Y
ML131 10216120399 01/01/97 10.250 150,000.00 Y
ML131 10216120404 01/01/97 10.750 80,000.00 Y
ML131 10216120501 02/01/97 10.625 63,500.00 Y
ML131 10216120503 02/01/97 7.625 318,500.00 Y
ML131 10216120679 02/01/97 8.875 150,000.00 Y
ML131 10216120813 01/01/97 8.375 101,000.00 Y
ML131 10216120956 01/01/97 9.875 190,000.00 Y
ML131 10216121110 02/01/97 11.125 140,000.00 Y
ML131 10216121123 02/01/97 9.875 165,000.00 Y
ML131 10216121162 01/01/97 9.625 65,000.00 Y
ML131 10216121277 01/01/97 8.375 126,000.00 Y
ML131 10216121400 02/01/97 10.375 155,000.00 Y
ML131 10216121566 01/01/97 9.875 163,000.00 Y
ML131 10216121750 01/01/97 7.625 155,000.00 Y
ML131 10216121785 01/01/97 12.375 214,000.00 Y
ML131 10216121846 01/01/97 10.375 168,000.00 Y
ML131 10216121992 02/01/97 7.500 62,000.00 Y
ML131 10216122252 02/01/97 11.375 54,000.00 Y
ML131 10216122321 01/01/97 7.625 200,000.00 Y
ML131 10216122388 01/01/97 10.250 95,000.00 Y
ML131 10216122640 02/01/97 9.125 170,000.00 Y
ML131 10216122853 01/01/97 9.625 544,000.00 Y
ML131 10216122931 02/01/97 9.875 170,000.00 Y
ML131 10216123050 02/01/97 9.625 75,000.00 Y
ML131 10216123087 01/01/97 11.375 290,000.00 Y
ML131 10216123263 02/01/97 10.000 161,000.00 Y
<PAGE>
Alliance Funding Company Page 5 9/16/96
A division of Superior Bank FSB
Sale Schedule B
1996-3 Class 2 - Initial Pool of Adjustable Rate Mortgages - Settlement 9/23/96
<TABLE>
<CAPTION>
Principal Type of Scheduled Cut-off Date Original
Balance at Mortgaged Payment Principal LTV
Sale ID Account Name Origination Property Int & Prin Balance Ratio
- ------------------------------------------------------------------------------------------------------------------------------------
<C> <C> <S> <C> <C> <C> <C> <C>
ML131 10216123664 DAVIS HARRY W 81,000.00 SF 594.35 81,000.00 83.5
ML131 10216123731 KNIOLA ROBERT JASON 29,100.00 SF 234.15 29,084.10 67.6
ML131 10216123931 REEVES REBECCA B 57,600.00 SF 437.80 57,600.00 80.0
ML131 10216124093 HARAKE ISMAIL 62,800.00 SF 471.80 62,800.00 79.4
ML131 10216124279 STENCEL MARC 97,200.00 SF 764.67 97,200.00 90.0
ML131 10216124606 MARRUFO AMALIO 139,000.00 MF 1,007.85 139,000.00 74.0
ML131 10216125080 MERHI MALEK 67,100.00 MF 620.07 67,100.00 84.9
------------------------------------------------------------------- --------------------------------------------
67 Sale Total 7,806,819.00 67,309.00 7,803,314.67 78.9
</TABLE>
Next Current Property
Adjustment Mortgage Value at Owner
Sale ID Account Date Rate Origination Occupied
- --------------------------------------------------------------------------------
ML131 10216123664 02/01/97 8.000 97,000.00 Y
ML131 10216123731 02/01/97 9.000 43,000.00 N
ML131 10216123931 02/01/97 8.375 72,000.00 Y
ML131 10216124093 02/01/97 8.250 79,000.00 Y
ML131 10216124279 02/01/97 8.750 108,000.00 Y
ML131 10216124606 02/01/97 7.875 187,700.00 Y
ML131 10216125080 02/01/97 10.625 79,000.00 Y
------------------ --------------------------
67 9.772 10,076,870.00
<PAGE>
Alliance Funding Company Page 6 9/16/96
A division of Superior Bank FSB
Sale Schedule B
1996-3 Class 2 - Initial Pool of Adjustable Rate Mortgages - Settlement 9/23/96
<TABLE>
<CAPTION>
Principal Type of Scheduled Cut-off Date Original
Balance at Mortgaged Payment Principal LTV
Sale ID Account Name Origination Property Int & Prin Balance Ratio
- ------------------------------------------------------------------------------------------------------------------------------------
<C> <C> <S> <C> <C> <C> <C> <C>
ML132 10216113959 GABBITAS LARRY E 94,095.00 SF 782.63 94,047.49 85.0
ML132 10216114296 MOORE KAREN 150,000.00 SF 1,247.62 150,000.00 42.2
ML132 10216114552 PARHAM LYDELL M 228,750.00 MF 1,986.35 228,750.00 74.2
ML132 10216115725 DENSING JAMES E 81,000.00 SF 825.39 80,976.17 64.8
ML132 10216117064 TURNER GWYNNE 34,500.00 SF 293.25 34,450.01 75.0
ML132 10216117810 BARNER CHARLES R 70,000.00 SF 607.84 69,968.20 39.5
ML132 10216119097 CARROZZO FRANCIS L 211,250.00 SF 2,031.76 211,176.70 65.0
ML132 10216119564 ROBERTS DAVID J 73,800.00 SF 640.84 73,800.00 45.0
ML132 10216119755 ZAJACZKOWSKI KARYN A 25,000.00 SF 245.19 25,000.00 30.1
ML132 10216120216 STASKIEWICZ THOMAS F 328,500.00 SF 3,035.67 328,372.92 90.0
ML132 10216120551 PRIVETT J WESLEY 80,580.00 SF 775.01 80,523.80 83.9
ML132 10216120715 SHEARS HERTISTINE 35,700.00 MF 353.53 35,700.00 54.9
ML132 10216120744 MUHAMMAD ARRON 79,200.00 MF 553.78 79,200.00 90.0
ML132 10216121257 SMITH ROBERTA 93,000.00 SF 912.11 92,938.61 62.0
ML132 10216121276 MAHBUBA QUASAI 72,000.00 SF 611.99 71,930.74 90.0
ML132 10216121342 MORIN RAYMOND K SR 82,800.00 SF 658.79 82,800.00 90.0
ML132 10216121647 WYATT JEFFREY M 89,600.00 SF 696.90 89,547.10 80.0
ML132 10216121656 HOFER LAURA A 229,500.00 SF 2,035.26 229,401.15 85.0
ML132 10216122248 SERGO ARLEEN J 100,000.00 SF 859.15 100,000.00 67.5
ML132 10216122539 VICKERY ERNEST C 57,800.00 SF 491.29 57,800.00 85.0
ML132 10216122725 THOMAS J CARL 93,750.00 SF 814.08 93,750.00 75.0
ML132 10216122989 STARZYK EDWARD J JR 130,000.00 SF 1,152.87 130,000.00 84.9
ML132 10216123218 KUND WILLIAM 61,200.00 SF 554.11 61,200.00 85.0
ML132 10216123390 EROH HENRY J 96,000.00 SF 815.99 95,954.01 80.0
ML132 10216123668 SWANSON ELIZABETH A 119,200.00 SF 1,057.10 119,200.00 80.0
ML132 10216123670 TAYLOR JAYNE 325,000.00 SF 2,644.31 325,000.00 54.8
ML132 10216123878 GAREISS GARY T 94,500.00 SF 820.59 94,457.07 75.0
ML132 10216123890 VINSON CLYDE LEE 41,200.00 SF 357.76 41,200.00 74.9
ML132 10216124325 DURBEN SHANE E 93,000.00 SF 807.56 92,957.31 75.0
ML132 10216124415 LIM KE SIK 119,000.00 SF 1,178.45 119,000.00 85.0
ML132 10216124506 CASE JAMES W JR 109,600.00 SF 891.74 109,600.00 80.0
ML132 10216124664 MISCINSKI RICHARD J 107,000.00 SF 919.30 106,949.38 88.4
ML132 10216124830 FERGERSON GERARD 153,000.00 MF 1,399.55 153,000.00 85.0
ML132 10216124893 MOLDOVAN BRUCE N 100,000.00 SF 849.99 99,952.09 58.3
ML132 10216125500 FAESTEL CATHERINE D 450,000.00 SF 3,661.35 449,760.53 75.0
ML132 10216125544 HARPER DAVID D 98,100.00 SF 780.53 98,100.00 90.0
ML132 10216125711 EDMONDS BETTINA L 222,700.00 SF 2,016.34 222,700.00 85.0
ML132 10216125722 GALLI ROBERT J 103,500.00 MF 823.49 103,500.00 90.0
ML132 10216125793 TRICE PAMELA J 71,200.00 SF 503.95 71,200.00 74.9
ML132 10216125924 RHATIGAN WILLIAM J 114,750.00 SF 1,038.95 114,703.16 81.9
ML132 10216125927 SCHLENDER THOMAS M 119,000.00 SF 1,055.32 119,000.00 85.0
ML132 10216126029 GIPE LLOYD G 75,530.00 SF 642.00 75,493.81 70.0
ML132 10216126202 PADILLA MICHAEL 64,000.00 SF 615.54 64,000.00 80.0
ML132 10216126393 FOTSIS ALEXANDER 127,000.00 SF 1,173.60 127,000.00 84.6
ML132 10216127205 LEIB PAMELA A 93,150.00 SF 757.90 93,150.00 75.0
--------------------------------------------------------------------- -------------------------------------------
45 Sale Total 5,398,455.00 46,976.72 5,397,210.25 75.9
</TABLE>
Next Current Property
Adjustment Mortgage Value at Owner
Sale ID Account Date Rate Origination Occupied
- --------------------------------------------------------------------------------
ML132 10216113959 01/01/97 9.375 110,700.00 Y
ML132 10216114296 02/01/97 9.375 355,000.00 Y
ML132 10216114552 02/01/97 9.875 308,000.00 Y
ML132 10216115725 02/01/97 11.875 125,000.00 Y
ML132 10216117064 01/01/97 9.625 46,000.00 Y
ML132 10216117810 02/01/97 9.875 177,000.00 Y
ML132 10216119097 01/01/97 11.125 325,000.00 Y
ML132 10216119564 02/01/97 9.875 164,000.00 Y
ML132 10216119755 02/01/97 11.375 83,000.00 N
ML132 10216120216 01/01/97 10.625 365,000.00 Y
ML132 10216120551 01/01/97 11.125 96,000.00 Y
ML132 10216120715 02/01/97 11.500 65,000.00 Y
ML132 10216120744 02/01/97 7.500 88,000.00 Y
ML132 10216121257 01/01/97 11.375 150,000.00 Y
ML132 10216121276 01/01/97 9.625 80,000.00 Y
ML132 10216121342 02/01/97 8.875 92,000.00 Y
ML132 10216121647 02/01/97 8.625 112,000.00 Y
ML132 10216121656 01/01/97 10.125 270,000.00 Y
ML132 10216122248 02/01/97 9.750 148,000.00 Y
ML132 10216122539 02/01/97 9.625 68,000.00 Y
ML132 10216122725 03/01/97 9.875 125,000.00 Y
ML132 10216122989 03/01/97 10.125 153,000.00 Y
ML132 10216123218 02/01/97 10.375 72,000.00 Y
ML132 10216123390 02/01/97 9.625 120,000.00 Y
ML132 10216123668 02/01/97 10.125 149,000.00 Y
ML132 10216123670 02/01/97 9.125 592,000.00 Y
ML132 10216123878 02/01/97 9.875 126,000.00 Y
ML132 10216123890 02/01/97 9.875 55,000.00 Y
ML132 10216124325 02/01/97 9.875 124,000.00 Y
ML132 10216124415 02/01/97 11.500 140,000.00 Y
ML132 10216124506 02/01/97 9.125 137,000.00 Y
ML132 10216124664 02/01/97 9.750 121,000.00 Y
ML132 10216124830 02/01/97 10.500 180,000.00 Y
ML132 10216124893 02/01/97 9.625 171,500.00 Y
ML132 10216125500 02/01/97 9.125 600,000.00 Y
ML132 10216125544 02/01/97 8.875 109,000.00 Y
ML132 10216125711 03/01/97 10.375 262,000.00 Y
ML132 10216125722 02/01/97 8.875 115,000.00 Y
ML132 10216125793 02/01/97 7.625 95,000.00 Y
ML132 10216125924 02/01/97 10.375 140,000.00 Y
ML132 10216125927 02/01/97 10.125 140,000.00 Y
ML132 10216126029 02/01/97 9.625 107,900.00 Y
ML132 10216126202 02/01/97 11.125 80,000.00 Y
ML132 10216126393 02/01/97 10.625 150,000.00 Y
ML132 10216127205 03/01/97 9.125 124,200.00 Y
------------------ --------------------------
45 9.891 7,416,300.00
<PAGE>
Alliance Funding Company Page 7 9/16/96
A division of Superior Bank FSB
Sale Schedule B
1996-3 Class 2 - Initial Pool of Adjustable Rate Mortgages - Settlement 9/23/96
<TABLE>
<CAPTION>
Principal Type of Scheduled Cut-off Date Original
Balance at Mortgaged Payment Principal LTV
Sale ID Account Name Origination Property Int & Prin Balance Ratio
- ------------------------------------------------------------------------------------------------------------------------------------
<C> <C> <S> <C> <C> <C> <C> <C>
ML133 10216102341 PULASKI VICTORIA 45,000.00 SF 382.50 44,934.79 71.4
ML133 10216105694 CUMMINGS PETER 175,500.00 SF 1,507.82 175,335.57 90.0
ML133 10216111637 CHANG VAN YAO 240,000.00 SF 2,084.04 237,806.96 75.7
ML133 10216112582 GAFNER DAVID 131,750.00 MF 1,156.20 131,632.95 77.5
ML133 10216113463 FERREIRA ANNMARIE 275,000.00 SF 2,237.49 274,853.66 77.4
ML133 10216113624 CANION MINNIE 108,000.00 CD 998.03 108,000.00 60.0
ML133 10216114216 BERKO BERNARD 219,750.00 MF 2,281.54 219,627.08 75.0
ML133 10216118060 ALDANA MARIA VAZQUEZ 165,000.00 SF 1,342.49 164,912.20 75.0
ML133 10216118126 BRINKIN JAMES B 85,120.00 SF 786.59 85,087.08 80.0
ML133 10216118727 CHALK DONALD L JR 87,550.00 SF 760.24 87,550.00 85.0
ML133 10216118927 NYMAN STEPHANIE 70,550.00 SF 523.83 70,550.00 85.0
ML133 10216119203 HARPER BARRY 130,000.00 SF 1,362.27 130,000.00 56.5
ML133 10216119587 SIMS ALVIN 75,000.00 SF 714.24 75,000.00 70.7
ML133 10216120111 SCHMIDT GLENN 95,200.00 SF 870.83 95,162.17 85.0
ML133 10216120137 SCHWEIZER CHRISTOPH 80,000.00 MF 650.91 79,914.52 80.0
ML133 10216120186 MCCALLUM DOROTHY M 59,000.00 SF 469.43 58,966.92 68.6
ML133 10216120409 KANE SCOTT R 118,800.00 SF 1,020.68 118,688.69 85.4
ML133 10216120434 FITTS TERRY N 72,000.00 SF 592.33 71,962.67 78.2
ML133 10216120518 DAVIDSON SYLVIA A 70,550.00 SF 685.22 70,550.00 83.0
ML133 10216120856 HAAG RICHARD K 81,600.00 SF 800.30 81,600.00 80.0
ML133 10216120872 STEWART SCOTT R 196,200.00 SF 1,685.66 196,200.00 90.0
ML133 10216121078 EDLING GARY M 225,000.00 SF 2,100.33 224,915.30 75.0
ML133 10216121319 RECCO KELLY 116,000.00 SF 1,007.28 116,000.00 76.8
ML133 10216121332 RODD LOWELL E 243,100.00 SF 1,999.92 242,973.98 65.0
ML133 10216121341 BROWNLIE GAVIN J 100,000.00 SF 933.48 99,962.35 80.0
ML133 10216121352 BARRERA GANIMEDES 153,000.00 MF 1,217.34 152,827.81 90.0
ML133 10216121378 HANSON MARK J 272,000.00 SF 2,771.68 271,919.99 80.0
ML133 10216121440 BAS ROBERT E 275,000.00 SF 2,362.67 274,871.71 58.5
ML133 10216121465 CASS APRIL 408,000.00 MF 3,467.96 408,000.00 80.0
ML133 10216121515 CROKEN ROBERT 60,000.00 SF 499.05 59,969.70 30.3
ML133 10216121537 ROSANTE SONDRA WEISS 184,000.00 SF 1,839.71 184,000.00 80.0
ML133 10216121594 BLACK DOROTHY G 43,400.00 SF 326.05 43,372.33 83.4
ML133 10216121655 DEDRICK ROBERT L 80,000.00 SF 784.61 79,973.72 80.0
ML133 10216121718 RIGGINS LORENZO W 36,000.00 SF 353.08 36,000.00 60.0
ML133 10216121851 KOCH THOMAS L 104,000.00 SF 1,000.25 103,963.92 80.0
ML133 10216121965 SERBECK JOSEPH G 102,000.00 SF 876.34 102,000.00 89.4
ML133 10216122392 HULSEY HAROLD F 76,500.00 SF 678.42 76,500.00 75.0
ML133 10216122484 AL-TAMIMI KADHUM 57,600.00 SF 458.29 57,535.18 78.9
ML133 10216122494 HINZ WERNER C 116,000.00 SF 1,137.69 115,961.89 80.0
ML133 10216122499 COUCH CHRISTOPHER 65,600.00 SF 674.77 65,600.00 80.0
ML133 10216122580 HAMILTON MARJORIE 105,000.00 SF 931.16 104,936.16 77.7
ML133 10216122605 VEGA JOSE 135,000.00 SF 1,172.27 134,938.67 90.0
ML133 10216122624 SAMAVARCHIAN REZA 226,525.00 SF 2,008.87 226,427.43 85.0
ML133 10216122651 PALMER III WILLIAM E 89,100.00 SF 757.34 89,100.00 90.0
ML133 10216122684 KEANE LAUREEN 64,100.00 SF 556.61 64,070.88 74.9
ML133 10216123227 AL CHOLOAN SAEB 121,500.00 SF 1,032.74 121,441.79 90.0
ML133 10216123243 RYAN GENEVIEVE M 136,000.00 SF 1,346.80 136,000.00 80.0
ML133 10216123406 BLACKWELL WILLIAM S 78,200.00 SF 708.03 78,200.00 85.0
ML133 10216123551 HALL MARTIN K 242,000.00 SF 2,373.45 241,920.51 67.2
ML133 10216123567 HAUSER EDWARD W 128,000.00 SF 1,218.97 127,954.36 80.0
ML133 10216123639 LANCE ANDY G SR 79,470.00 SF 690.08 79,470.00 90.0
ML133 10216123640 SOWDEN LEONARD 90,100.00 SF 815.77 90,100.00 85.0
ML133 10216124007 MCELHANEY DAVID 117,200.00 SF 1,116.12 117,200.00 80.0
ML133 10216124052 DONALDSON NICOLE M 64,000.00 SF 520.73 64,000.00 80.0
ML133 10216124092 ALWISHAH AHMED 121,500.00 MF 1,043.87 121,443.32 89.3
ML133 10216124365 CONLON JOHN J 80,000.00 SF 702.06 79,964.61 65.5
ML133 10216124366 PANARELLO ALBERT F 150,000.00 SF 1,288.73 150,000.00 46.1
ML133 10216124402 CARPENTER ANTHONY 60,800.00 SF 590.53 60,800.00 80.0
ML133 10216124408 INKPEN DENNIS 138,750.00 SF 1,192.08 138,685.26 75.0
ML133 10216124486 BISHER ROBERT 72,000.00 SF 625.21 72,000.00 80.0
</TABLE>
Next Current Property
Adjustment Mortgage Value at Owner
Sale ID Account Date Rate Origination Occupied
- --------------------------------------------------------------------------------
ML133 10216102341 11/01/96 9.625 63,000.00 Y
ML133 10216105694 12/01/96 9.750 195,000.00 Y
ML133 10216111637 01/01/97 9.875 317,000.00 Y
ML133 10216112582 12/01/96 10.000 170,000.00 Y
ML133 10216113463 02/01/97 9.125 355,000.00 Y
ML133 10216113624 02/01/97 10.625 180,000.00 Y
ML133 10216114216 12/01/96 12.125 293,000.00 Y
ML133 10216118060 02/01/97 9.125 220,000.00 Y
ML133 10216118126 01/01/97 10.625 106,400.00 Y
ML133 10216118727 02/01/97 9.875 103,000.00 Y
ML133 10216118927 02/01/97 8.125 83,000.00 Y
ML133 10216119203 02/01/97 12.250 230,000.00 Y
ML133 10216119587 02/01/97 11.000 106,000.00 Y
ML133 10216120111 02/01/97 10.500 112,000.00 Y
ML133 10216120137 01/01/97 9.125 100,000.00 Y
ML133 10216120186 01/01/97 8.875 86,000.00 Y
ML133 10216120409 01/01/97 9.750 139,000.00 Y
ML133 10216120434 02/01/97 9.250 92,000.00 Y
ML133 10216120518 02/01/97 11.250 85,000.00 Y
ML133 10216120856 02/01/97 11.375 102,000.00 Y
ML133 10216120872 03/01/97 9.750 218,000.00 Y
ML133 10216121078 01/01/97 10.750 300,000.00 Y
ML133 10216121319 02/01/97 9.875 151,000.00 Y
ML133 10216121332 01/01/97 9.250 374,000.00 Y
ML133 10216121341 01/01/97 10.750 125,000.00 Y
ML133 10216121352 01/01/97 8.875 170,000.00 Y
ML133 10216121378 01/01/97 11.875 340,000.00 Y
ML133 10216121440 02/01/97 9.750 470,000.00 Y
ML133 10216121465 02/01/97 9.625 510,000.00 Y
ML133 10216121515 02/01/97 9.375 198,000.00 Y
ML133 10216121537 02/01/97 11.625 230,000.00 Y
ML133 10216121594 02/01/97 8.250 52,000.00 Y
ML133 10216121655 02/01/97 11.375 100,000.00 Y
ML133 10216121718 02/01/97 11.375 60,000.00 Y
ML133 10216121851 01/01/97 11.125 130,000.00 Y
ML133 10216121965 02/01/97 9.750 114,000.00 Y
ML133 10216122392 02/01/97 10.125 102,000.00 Y
ML133 10216122484 01/01/97 8.875 73,000.00 Y
ML133 10216122494 02/01/97 11.375 145,000.00 Y
ML133 10216122499 02/01/97 12.000 82,000.00 Y
ML133 10216122580 02/01/97 10.125 135,000.00 Y
ML133 10216122605 02/01/97 9.875 150,000.00 Y
ML133 10216122624 01/01/97 10.125 266,500.00 Y
ML133 10216122651 02/01/97 9.625 99,000.00 Y
ML133 10216122684 02/01/97 9.875 85,500.00 Y
ML133 10216123227 02/01/97 9.625 135,000.00 Y
ML133 10216123243 02/01/97 11.500 170,000.00 Y
ML133 10216123406 02/01/97 10.375 92,000.00 Y
ML133 10216123551 02/01/97 11.375 360,000.00 Y
ML133 10216123567 02/01/97 11.000 160,000.00 Y
ML133 10216123639 02/01/97 9.875 88,300.00 Y
ML133 10216123640 02/01/97 10.375 106,000.00 Y
ML133 10216124007 02/01/97 11.000 146,500.00 Y
ML133 10216124052 03/01/97 9.125 80,000.00 Y
ML133 10216124092 02/01/97 9.750 136,000.00 Y
ML133 10216124365 02/01/97 10.000 122,000.00 Y
ML133 10216124366 02/01/97 9.750 325,000.00 Y
ML133 10216124402 02/01/97 11.250 76,000.00 Y
ML133 10216124408 02/01/97 9.750 185,000.00 Y
ML133 10216124486 02/01/97 9.875 90,000.00 Y
<PAGE>
Alliance Funding Company Page 8 9/16/96
A division of Superior Bank FSB
Sale Schedule B
1996-3 Class 2 - Initial Pool of Adjustable Rate Mortgages - Settlement 9/23/96
<TABLE>
<CAPTION>
Principal Type of Scheduled Cut-off Date Original
Balance at Mortgaged Payment Principal LTV
Sale ID Account Name Origination Property Int & Prin Balance Ratio
- ------------------------------------------------------------------------------------------------------------------------------------
<C> <C> <S> <C> <C> <C> <C> <C>
ML133 10216124571 SCHNEIDER LORAINE D 68,400.00 SF 575.14 68,400.00 90.0
ML133 10216124931 ATHERTON KENNETH LEE 54,400.00 SF 554.34 54,400.00 80.0
ML133 10216125001 GNANG JOHN W 44,000.00 SF 469.59 44,000.00 55.0
ML133 10216125079 HOLLOWAY JOSEPH 64,800.00 SF 533.09 64,766.41 90.0
ML133 10216125393 AL-WAHAH HASSAN 82,800.00 MF 711.38 82,800.00 90.0
ML133 10216125470 SKIDMORE JACQUELINE P 62,000.00 SF 538.38 62,000.00 70.4
ML133 10216125504 LEVINE LARRY R 90,400.00 SF 921.18 90,400.00 80.0
ML133 10216125517 EAGLESON JEFFREY P 272,000.00 SF 2,462.71 272,000.00 85.0
ML133 10216125829 AL-TIWAINY BASSIM 36,000.00 SF 306.00 36,000.00 90.0
ML133 10216125846 VIDMAR DUBRAVKA 159,600.00 SF 1,657.04 159,600.00 80.0
ML133 10216125993 TSOULI MOHAMED 54,000.00 SF 429.65 54,000.00 83.0
ML133 10216126230 GUZMAN PAMELA 25,000.00 SF 212.50 25,000.00 37.8
ML133 10216126398 AL-GAZALI THAMER 74,800.00 SF 568.53 74,800.00 84.0
ML133 10216126401 SOBH BASSEL 58,500.00 SF 497.24 58,500.00 87.3
ML133 10216126568 BOSTION RALPH T 72,500.00 SF 576.84 72,500.00 58.0
ML133 10216126882 AL-SHIMARI HAIDAR 68,400.00 SF 581.39 68,367.24 90.0
--------------------------------------------------------------------- -------------------------------------------
76 Sale Total 8,885,615.00 79,687.98 8,880,869.78 77.8
</TABLE>
Next Current Property
Adjustment Mortgage Value at Owner
Sale ID Account Date Rate Origination Occupied
- --------------------------------------------------------------------------------
ML133 10216124571 02/01/97 9.500 76,000.00 Y
ML133 10216124931 02/01/97 11.875 68,000.00 Y
ML133 10216125001 02/01/97 12.500 80,000.00 Y
ML133 10216125079 02/01/97 9.250 72,000.00 Y
ML133 10216125393 02/01/97 9.750 92,000.00 Y
ML133 10216125470 02/01/97 9.875 88,000.00 Y
ML133 10216125504 02/01/97 11.875 113,000.00 Y
ML133 10216125517 02/01/97 10.375 320,000.00 Y
ML133 10216125829 02/01/97 9.625 40,000.00 Y
ML133 10216125846 03/01/97 12.125 199,500.00 Y
ML133 10216125993 02/01/97 8.875 65,000.00 Y
ML133 10216126230 02/01/97 9.625 66,000.00 Y
ML133 10216126398 02/01/97 8.375 89,000.00 Y
ML133 10216126401 02/01/97 9.625 67,000.00 Y
ML133 10216126568 03/01/97 8.875 125,000.00 Y
ML133 10216126882 02/01/97 9.625 76,000.00 Y
------------------ --------------------------
76 10.249 11,725,700.00
<PAGE>
Alliance Funding Company Page 9 9/16/96
A division of Superior Bank FSB
Sale Schedule B
1996-3 Class 2 - Initial Pool of Adjustable Rate Mortgages - Settlement 9/23/96
<TABLE>
<CAPTION>
Principal Type of Scheduled Cut-off Date Original
Balance at Mortgaged Payment Principal LTV
Sale ID Account Name Origination Property Int & Prin Balance Ratio
- ------------------------------------------------------------------------------------------------------------------------------------
<C> <C> <S> <C> <C> <C> <C> <C>
ML134 10216114511 CAMERON BENNIE L 140,000.00 MF 1,373.07 140,000.00 80.0
ML134 10216114748 BOUCHER DIANA 174,600.00 MF 1,468.13 174,600.00 90.0
ML134 10216118130 AVILLA JOHN W 225,000.00 SF 1,912.48 225,000.00 65.5
ML134 10216119907 SCOTT DEVOYOUR POWERS 20,000.00 SF 173.67 20,000.00 40.0
ML134 10216120742 CAFFI DANILO C 249,500.00 SF 2,030.01 249,233.45 65.6
ML134 10216121240 RADFORD LAWRENCE 37,600.00 SF 368.77 37,600.00 80.0
ML134 10216121253 ODDO JOHN V 170,000.00 MF 1,570.97 169,934.24 85.0
ML134 10216121266 HUGHES MARY C 234,400.00 SF 1,992.38 234,187.08 89.9
ML134 10216121670 THOMAS MARVIN C 60,000.00 SF 477.39 59,966.36 75.0
ML134 10216122669 HUNTER KEVIN T 128,000.00 SF 972.89 127,920.44 80.0
ML134 10216122829 PALETTA ANTHONY F 143,625.00 SF 1,247.17 143,625.00 75.0
ML134 10216122839 REDDEN PATRICIA E 147,500.00 SF 1,044.00 147,393.24 79.7
ML134 10216122988 SKINNER VERNON R III 64,000.00 SF 492.10 64,000.00 70.3
ML134 10216123351 RAZVI MUJEEB H 135,900.00 SF 1,105.73 135,827.68 79.9
ML134 10216123542 NEELY BRENDA J 84,000.00 MF 831.84 84,000.00 80.0
ML134 10216123603 SANCHEZ OSCAR 112,500.00 MF 1,039.61 112,500.00 90.0
ML134 10216123683 SERVATIUS EDWARD J 80,000.00 SF 746.79 80,000.00 85.1
ML134 10216123727 PIATCHEK RICHARD 88,200.00 SF 709.68 88,200.00 90.0
ML134 10216123893 RENTERIA MARIO CARLOS 60,000.00 MF 472.02 60,000.00 75.0
ML134 10216124005 JABBAR SANAA A 159,800.00 SF 1,567.26 159,800.00 85.0
ML134 10216124085 LAMICK STEVE 30,000.00 SF 263.27 29,986.73 16.2
ML134 10216124166 ONYIANTA CHINWE 382,500.00 SF 3,463.18 382,500.00 85.0
ML134 10216124181 WHITFIELD ANTHONY M 55,920.00 SF 537.83 55,920.00 80.0
ML134 10216124447 CARRILLO FELIX L 59,200.00 MF 580.61 59,200.00 80.0
ML134 10216124515 WAITE JOEL MICHAEL 128,000.00 SF 1,231.08 128,000.00 80.0
ML134 10216124666 ABU-DAYYEH MAGIDA 90,000.00 SF 874.14 90,000.00 80.0
ML134 10216124667 CUMMINGS STEVEN R 322,200.00 SF 2,448.95 322,200.00 90.0
ML134 10216125120 FISCHER DONNETTE 127,500.00 SF 1,142.53 127,500.00 75.0
ML134 10216126492 SMITH GARY 137,250.00 SF 1,166.61 137,250.00 90.0
ML134 10216126498 FULTON RONALD A 94,350.00 SF 854.25 94,350.00 85.0
ML134 10216126860 SINES EDWARD A 34,400.00 SF 337.38 34,400.00 80.0
ML134 10216127395 ANDERSON RODNEY K 89,700.00 MF 729.83 89,700.00 65.0
--------------------------------------------------------------------- -----------------------------------------
32 Sale Total 4,065,645.00 35,225.62 4,064,794.22 80.4
</TABLE>
Next Current Property
Adjustment Mortgage Value at Owner
Sale ID Account Date Rate Origination Occupied
- --------------------------------------------------------------------------------
ML134 10216114511 02/01/97 11.375 175,000.00 Y
ML134 10216114748 02/01/97 9.500 194,000.00 Y
ML134 10216118130 02/01/97 9.625 343,000.00 Y
ML134 10216119907 02/01/97 9.875 50,000.00 Y
ML134 10216120742 01/01/97 9.125 380,000.00 Y
ML134 10216121240 02/01/97 11.375 47,000.00 Y
ML134 10216121253 01/01/97 10.625 200,000.00 Y
ML134 10216121266 02/01/97 9.625 260,500.00 Y
ML134 10216121670 02/01/97 8.875 80,000.00 Y
ML134 10216122669 01/01/97 8.375 160,000.00 Y
ML134 10216122829 02/01/97 9.875 191,500.00 Y
ML134 10216122839 02/01/97 7.625 185,000.00 Y
ML134 10216122988 02/01/97 8.500 91,000.00 Y
ML134 10216123351 01/01/97 9.125 169,880.00 Y
ML134 10216123542 02/01/97 11.500 105,000.00 Y
ML134 10216123603 03/01/97 10.625 125,000.00 Y
ML134 10216123683 02/01/97 10.750 94,000.00 Y
ML134 10216123727 02/01/97 9.000 98,000.00 Y
ML134 10216123893 02/01/97 8.750 80,000.00 Y
ML134 10216124005 02/01/97 11.375 188,000.00 Y
ML134 10216124085 02/01/97 10.000 185,000.00 Y
ML134 10216124166 02/01/97 10.375 450,000.00 Y
ML134 10216124181 02/01/97 11.125 69,900.00 Y
ML134 10216124447 02/01/97 11.375 74,000.00 Y
ML134 10216124515 03/01/97 11.125 160,000.00 Y
ML134 10216124666 02/01/97 11.250 112,500.00 Y
ML134 10216124667 02/01/97 8.375 358,000.00 Y
ML134 10216125120 03/01/97 10.250 170,000.00 Y
ML134 10216126492 03/01/97 9.625 152,500.00 Y
ML134 10216126498 03/01/97 10.375 111,000.00 Y
ML134 10216126860 02/01/97 11.375 43,000.00 Y
ML134 10216127395 03/01/97 9.125 138,000.00 N
------------------ --------------------------
32 9.835 5,240,780.00
<PAGE>
Alliance Funding Company Page 10 9/16/96
A division of Superior Bank FSB
Sale Schedule B
1996-3 Class 2 - Initial Pool of Adjustable Rate Mortgages - Settlement 9/23/96
<TABLE>
<CAPTION>
Principal Type of Scheduled Cut-off Date Original
Balance at Mortgaged Payment Principal LTV
Sale ID Account Name Origination Property Int & Prin Balance Ratio
- ------------------------------------------------------------------------------------------------------------------------------------
<C> <C> <S> <C> <C> <C> <C> <C>
ML135 10216084286 FERRARA THEODORE 225,000.00 MF 2,078.05 223,873.40 75.0
ML135 10216108455 NORTHOVER EROLL 82,500.00 MF 770.12 82,468.06 75.0
ML135 10216115562 CALABRO JOANNE 324,000.00 SF 2,491.28 324,000.00 88.7
ML135 10216116005 ANDREWS NELSON M 193,400.00 SF 1,679.39 193,312.13 89.9
ML135 10216118720 ORLANDO CARMINE 225,000.00 SF 1,912.48 225,000.00 75.0
ML135 10216118756 EL-ZEIN AHMAD 30,600.00 SF 277.05 30,573.01 85.0
ML135 10216120811 BAZZI HALA 41,600.00 SF 316.19 41,574.14 83.2
ML135 10216121009 OCHOA MARTIN A 54,660.00 SF 474.64 54,660.00 89.9
ML135 10216121707 PAGE JOE A 56,200.00 SF 447.15 56,168.50 74.9
ML135 10216122103 JONES ALFRED O IBARE 49,600.00 SF 412.55 49,574.95 80.0
ML135 10216122253 REINHOLT-ROE WENDY L 93,700.00 SF 779.35 93,700.00 74.9
ML135 10216122270 ADAM ROSE ANN 122,300.00 SF 1,050.75 122,300.00 50.9
ML135 10216122273 RUNKLES ROSE M 174,250.00 SF 1,610.24 174,250.00 85.0
ML135 10216122472 TIFT STEVEN G 47,700.00 SF 405.44 47,700.00 86.7
ML135 10216122474 GREENWALD ELWIN M 225,000.00 SF 1,912.48 225,000.00 90.0
ML135 10216122535 KHREIZAT IBRAHIM S 101,100.00 MF 934.26 101,021.45 84.9
ML135 10216122979 CASTRO JACINTO G 89,250.00 SF 808.08 89,250.00 81.1
ML135 10216123819 DADDONA LARRY 100,750.00 SF 1,007.34 100,718.68 65.0
ML135 10216124274 ALAMEEDI YOUSSEF 62,000.00 SF 465.79 62,000.00 82.6
ML135 10216125002 FITZGERALD GREG 102,000.00 SF 923.52 102,000.00 85.0
ML135 10216125336 ALKAABI AQIL HAYAWI 81,000.00 MF 695.92 81,000.00 90.0
ML135 10216125473 CALLAGHAN KEIRAN 81,750.00 SF 694.87 81,750.00 75.0
ML135 10216125542 CAMPBELL ELIZABETH R 25,000.00 SF 181.27 25,000.00 69.4
ML135 10216125646 KUNKEL GARY P 54,000.00 SF 449.14 54,000.00 80.0
ML135 10216125763 AL-SHI HASSOUN ABDULHADER 54,000.00 SF 463.94 54,000.00 90.0
ML135 10216126225 CHAABAN BILAL 56,000.00 SF 445.56 56,000.00 80.0
ML135 10216126693 ABOU-TAAM BILAL H 49,500.00 SF 420.74 49,500.00 90.0
ML135 10216127490 NEUMANN STEVEN F 124,000.00 SF 942.49 124,000.00 84.9
--------------------------------------------------------------------- -------------------------------------------
28 Sale Total 2,925,860.00 25,050.08 2,924,394.32 81.2
</TABLE>
Next Current Property
Adjustment Mortgage Value at Owner
Sale ID Account Date Rate Origination Occupied
- --------------------------------------------------------------------------------
ML135 10216084286 04/01/97 10.625 300,000.00 Y
ML135 10216108455 01/01/97 10.750 110,000.00 Y
ML135 10216115562 02/01/97 8.500 365,000.00 Y
ML135 10216116005 01/01/97 9.875 214,952.00 Y
ML135 10216118720 02/01/97 9.625 300,000.00 Y
ML135 10216118756 12/01/96 10.375 36,000.00 Y
ML135 10216120811 01/01/97 8.375 50,000.00 Y
ML135 10216121009 02/01/97 9.875 60,735.00 Y
ML135 10216121707 02/01/97 8.875 75,000.00 Y
ML135 10216122103 01/01/97 9.375 62,000.00 Y
ML135 10216122253 02/01/97 9.375 125,000.00 Y
ML135 10216122270 03/01/97 9.750 240,000.00 Y
ML135 10216122273 02/01/97 10.625 205,000.00 Y
ML135 10216122472 02/01/97 9.625 55,000.00 Y
ML135 10216122474 02/01/97 9.625 250,000.00 Y
ML135 10216122535 01/01/97 10.625 119,000.00 Y
ML135 10216122979 03/01/97 10.375 110,000.00 Y
ML135 10216123819 01/15/97 11.625 155,000.00 Y
ML135 10216124274 02/01/97 8.250 75,000.00 Y
ML135 10216125002 02/01/97 10.375 120,000.00 Y
ML135 10216125336 02/01/97 9.750 90,000.00 Y
ML135 10216125473 02/01/97 9.625 109,000.00 Y
ML135 10216125542 03/01/97 7.875 36,000.00 Y
ML135 10216125646 03/01/97 9.375 67,500.00 Y
ML135 10216125763 02/01/97 9.750 60,000.00 Y
ML135 10216126225 02/01/97 8.875 70,000.00 Y
ML135 10216126693 02/01/97 9.625 55,000.00 Y
ML135 10216127490 03/01/97 8.375 146,000.00 Y
------------------ --------------------------
28 9.700 3,661,187.00
<PAGE>
Alliance Funding Company Page 11 9/16/96
A division of Superior Bank FSB
Sale Schedule B
1996-3 Class 2 - Initial Pool of Adjustable Rate Mortgages - Settlement 9/23/96
<TABLE>
<CAPTION>
Principal Type of Scheduled Cut-off Date Original
Balance at Mortgaged Payment Principal LTV
Sale ID Account Name Origination Property Int & Prin Balance Ratio
- ------------------------------------------------------------------------------------------------------------------------------------
<C> <C> <S> <C> <C> <C> <C> <C>
ML136 10216120245 HALE DAL 160,000.00 SF 1,418.92 160,000.00 71.1
ML136 10216123068 LAING DOUGLAS 128,400.00 SF 1,345.50 128,365.25 80.0
ML136 10216123713 HARPER TODD J 69,300.00 SF 589.04 69,300.00 90.0
ML136 10216123883 COSENTINO SAM 78,000.00 MF 765.00 78,000.00 65.0
ML136 10216124525 PEARCE KELLY M 105,000.00 SF 743.18 105,000.00 75.0
ML136 10216124778 CETON COLLEEN K 67,150.00 SF 607.98 67,150.00 85.0
ML136 10216125084 DAY CHESTER JOSEPH 98,600.00 SF 874.41 98,600.00 85.0
ML136 10216125795 GHESS ROOSEVELT 27,500.00 SF 269.71 27,500.00 56.1
ML136 10216127483 LOUDER LESLIE W 65,000.00 SF 517.17 65,000.00 49.2
ML136 10216127870 COSGROVE KEVIN J 166,875.00 SF 1,510.90 166,875.00 85.5
--------------------------------------------------------------------- -------------------------------------------
10 Sale Total 965,825.00 8,641.81 965,790.25 76.5
</TABLE>
Next Current Property
Adjustment Mortgage Value at Owner
Sale ID Account Date Rate Origination Occupied
- --------------------------------------------------------------------------------
ML136 10216120245 03/01/97 10.125 225,000.00 Y
ML136 10216123068 02/01/97 12.250 160,500.00 Y
ML136 10216123713 03/01/97 9.625 77,000.00 Y
ML136 10216123883 03/01/97 11.375 120,000.00 Y
ML136 10216124525 03/01/97 7.625 140,000.00 Y
ML136 10216124778 03/01/97 10.375 79,000.00 Y
ML136 10216125084 03/01/97 10.125 116,000.00 Y
ML136 10216125795 03/01/97 11.375 49,000.00 Y
ML136 10216127483 03/01/97 8.875 132,000.00 Y
ML136 10216127870 03/01/97 10.375 195,000.00 Y
------------------ --------------------------
10 10.213 1,293,500.00
<PAGE>
Alliance Funding Company Page 12 9/16/96
A division of Superior Bank FSB
Sale Schedule B
1996-3 Class 2 - Initial Pool of Adjustable Rate Mortgages - Settlement 9/23/96
<TABLE>
<CAPTION>
Principal Type of Scheduled Cut-off Date Original
Balance at Mortgaged Payment Principal LTV
Sale ID Account Name Origination Property Int & Prin Balance Ratio
- ------------------------------------------------------------------------------------------------------------------------------------
<C> <C> <S> <C> <C> <C> <C> <C>
ML137 10216118344 LARAMEE RUSSELL R 95,800.00 SF 867.38 95,760.89 79.1
ML137 10216120520 CLARFIELD ROBERT J 96,200.00 SF 800.14 96,151.42 84.9
ML137 10216121122 ASLANIAN RAZMIG 211,500.00 SF 1,720.83 211,500.00 90.0
ML137 10216121379 CLEVERLEY MELVIN K 103,500.00 SF 889.22 103,451.72 90.0
ML137 10216122250 CHOKR MOHAMAD ALI 102,000.00 SF 904.56 101,956.07 85.0
ML137 10216122400 DAWSON KENNETH 103,200.00 SF 1,041.71 103,200.00 80.0
ML137 10216122583 BARCHUS JOHN B 93,608.00 SF 812.84 93,565.48 79.3
ML137 10216122757 RICHARDS VICTORIA S 113,600.00 SF 1,157.58 113,600.00 79.4
ML137 10216124002 RUSSO ROBERT F JR 123,717.00 SF 1,097.15 123,717.00 84.7
ML137 10216124579 OSZTROVICZKY TIBOR 216,750.00 MF 2,002.98 216,750.00 85.0
ML137 10216126114 HOSKINS MERLYN K 50,001.00 SF 457.38 50,001.00 42.3
ML137 10216126129 COLTER FRANCES K 74,220.00 SF 685.87 74,191.29 89.4
ML137 10216126744 FORSBERG MARIA C 38,000.00 MF 358.30 38,000.00 84.4
ML137 10216127411 MACHICOTE JOSEPH 75,000.00 MF 596.73 75,000.00 46.0
ML137 10216127492 CIPRIANO MICHAEL R 200,000.00 SF 2,115.14 200,000.00 56.3
ML137 10216127648 FAST RODERICK 93,500.00 SF 881.60 93,500.00 85.0
--------------------------------------------------------------------- -------------------------------------------
16 Sale Total 1,790,596.00 16,389.41 1,790,344.87 78.7
</TABLE>
Next Current Property
Adjustment Mortgage Value at Owner
Sale ID Account Date Rate Origination Occupied
- --------------------------------------------------------------------------------
ML137 10216118344 01/01/97 10.375 121,000.00 Y
ML137 10216120520 02/01/97 9.375 113,225.00 Y
ML137 10216121122 03/01/97 9.125 235,000.00 Y
ML137 10216121379 02/01/97 9.750 115,000.00 Y
ML137 10216122250 01/01/97 10.125 120,000.00 Y
ML137 10216122400 03/01/97 11.750 129,000.00 Y
ML137 10216122583 02/01/97 9.875 118,000.00 Y
ML137 10216122757 03/01/97 11.875 143,000.00 Y
ML137 10216124002 02/01/97 10.125 145,900.00 Y
ML137 10216124579 02/01/97 10.625 255,000.00 Y
ML137 10216126114 02/01/97 10.500 118,000.00 Y
ML137 10216126129 02/01/97 10.625 83,000.00 Y
ML137 10216126744 03/01/97 10.875 45,000.00 Y
ML137 10216127411 03/01/97 8.875 163,000.00 N
ML137 10216127492 03/01/97 12.375 355,000.00 Y
ML137 10216127648 03/01/97 10.875 110,000.00 Y
------------------ --------------------------
16 10.496 2,369,125.00
<PAGE>
Alliance Funding Company Page 13 9/16/96
A division of Superior Bank FSB
Sale Schedule B
1996-3 Class 2 - Initial Pool of Adjustable Rate Mortgages - Settlement 9/23/96
<TABLE>
<CAPTION>
Principal Type of Scheduled Cut-off Date Original
Balance at Mortgaged Payment Principal LTV
Sale ID Account Name Origination Property Int & Prin Balance Ratio
- ------------------------------------------------------------------------------------------------------------------------------------
<C> <C> <S> <C> <C> <C> <C> <C>
ML138 10216099576 WARREN SHEILA J 108,800.00 SF 1,067.07 108,617.89 80.0
ML138 10216104307 MCALEER TIMOTHY 89,700.00 SF 697.68 89,539.97 56.0
ML138 10216106676 THREATS BETTY 48,000.00 MF 407.99 48,000.00 60.0
ML138 10216108528 ROBINSON ANNETTE 70,550.00 SF 638.76 70,492.15 85.0
ML138 10216114916 CASSELL JEFFERY F 241,600.00 SF 2,346.57 241,600.00 79.4
ML138 10216115132 CLARK JAMES C 114,750.00 SF 1,060.40 114,750.00 85.0
ML138 10216118050 GARRO HERBERT NILTON 239,200.00 SF 2,033.17 239,041.49 80.0
ML138 10216118276 LEE HAK KWON 192,000.00 SF 1,562.18 192,000.00 80.0
ML138 10216118406 MURRAY WARREN L 150,000.00 SF 1,414.34 150,000.00 35.7
ML138 10216119013 WHELAN WILLIAM A 147,500.00 SF 1,390.76 147,500.00 84.2
ML138 10216119575 WALLACE CHARLOTTE M 64,000.00 SF 621.61 64,000.00 79.0
ML138 10216121000 NUTTALL LEO J 125,000.00 SF 1,108.53 124,946.16 71.8
ML138 10216121015 KING RICHARD E 119,000.00 SF 1,066.36 118,950.10 85.0
ML138 10216121802 LARUBIO ESTHER 112,500.00 SF 1,039.61 112,500.00 90.0
ML138 10216122237 LEE MOY AMY 74,000.00 CD 635.77 74,000.00 53.8
ML138 10216122396 CANDELARIA SYLVIA D 80,000.00 SF 650.91 80,000.00 74.0
ML138 10216123040 SMALL ELLIS 114,000.00 SF 1,107.24 114,000.00 79.7
ML138 10216123792 KORN RICHARD 270,000.00 SF 2,394.42 270,000.00 75.0
ML138 10216123868 GEATHERS VAUGHN 62,900.00 SF 593.08 62,900.00 85.0
ML138 10216124149 RINALDI MARK D 165,000.00 SF 1,268.71 165,000.00 62.9
ML138 10216124165 COOPER URSULA 98,400.00 SF 1,012.15 98,400.00 80.0
ML138 10216124651 MICHENER WILLIAM CLAY 50,400.00 SF 437.65 50,400.00 70.0
ML138 10216124655 TOWNSEND MICHAEL C 104,900.00 SF 742.48 104,824.07 84.9
ML138 10216125077 CARTER ROBERT B 69,750.00 SF 639.33 69,750.00 75.0
ML138 10216125081 GOGUE JOSE L 82,800.00 SF 658.79 82,800.00 90.0
ML138 10216125284 QUINTANA ARTHUR M 146,000.00 SF 1,349.18 146,000.00 80.0
ML138 10216125290 OMER ELI 126,750.00 SF 1,135.81 126,696.85 72.4
ML138 10216125302 MOORE ROBERT L 100,000.00 SF 914.74 100,000.00 71.4
ML138 10216125601 VASILIADIS KELLY ANN 144,500.00 MF 1,458.60 144,500.00 85.0
ML138 10216126077 KATHURIA PRADEEP S 94,250.00 CD 733.07 94,250.00 65.0
ML138 10216126296 WHITLEY SHARON D 145,000.00 SF 1,127.80 145,000.00 63.8
ML138 10216126387 YBARRA JUAN R 118,800.00 SF 945.23 118,800.00 80.0
ML138 10216126827 GORDON DWAYNE M 68,000.00 SF 577.99 68,000.00 54.8
ML138 10216126856 BUSH JAMES A 123,200.00 SF 980.23 123,200.00 80.0
ML138 10216126868 DAVIDSON MARK GARY 63,800.00 SF 554.01 63,800.00 55.0
ML138 10216127132 MCMENAMIN MARGARET A 27,920.00 SF 247.60 27,920.00 80.0
ML138 10216127867 PETERSEN LISA 340,000.00 SF 2,705.19 340,000.00 80.0
ML138 10216127939 BELL ANTHONY R 138,125.00 SF 1,250.59 138,125.00 85.0
ML138 10216128214 HUNSAKER TAYNE E 136,000.00 SF 1,256.77 136,000.00 80.0
ML138 10216128683 JOHNSON BRIAN 129,200.00 SF 1,121.91 129,200.00 85.0
ML138 10216128987 FREISS DAVID Y 59,500.00 SF 527.66 59,500.00 84.8
--------------------------------------------------------------------- -------------------------------------------
41 Sale Total 4,955,795.00 43,481.94 4,955,003.68 75.9
</TABLE>
Next Current Property
Adjustment Mortgage Value at Owner
Sale ID Account Date Rate Origination Occupied
- --------------------------------------------------------------------------------
ML138 10216099576 09/01/97 13.375 136,000.00 Y
ML138 10216104307 11/01/96 8.625 160,000.00 Y
ML138 10216106676 02/01/97 9.625 80,000.00 Y
ML138 10216108528 11/01/96 10.375 83,000.00 Y
ML138 10216114916 02/01/97 11.250 304,000.00 Y
ML138 10216115132 02/01/97 10.625 135,000.00 Y
ML138 10216118050 01/01/97 9.625 299,000.00 Y
ML138 10216118276 02/01/97 9.125 240,000.00 Y
ML138 10216118406 02/01/97 10.875 420,000.00 Y
ML138 10216119013 02/01/97 10.875 175,000.00 Y
ML138 10216119575 03/01/97 11.250 81,000.00 Y
ML138 10216121000 01/01/97 10.125 174,000.00 Y
ML138 10216121015 02/01/97 10.250 140,000.00 Y
ML138 10216121802 03/01/97 10.625 125,000.00 Y
ML138 10216122237 03/01/97 9.750 137,500.00 N
ML138 10216122396 03/01/97 9.125 108,000.00 Y
ML138 10216123040 02/01/97 11.250 143,000.00 Y
ML138 10216123792 02/01/97 10.125 360,000.00 Y
ML138 10216123868 02/01/97 10.875 74,000.00 Y
ML138 10216124149 02/01/97 8.500 262,000.00 N
ML138 10216124165 02/01/97 12.000 123,000.00 Y
ML138 10216124651 03/01/97 9.875 72,000.00 Y
ML138 10216124655 02/01/97 7.625 123,500.00 Y
ML138 10216125077 03/01/97 10.525 93,000.00 Y
ML138 10216125081 03/01/97 8.875 92,000.00 Y
ML138 10216125284 03/01/97 10.625 182,500.00 Y
ML138 10216125290 02/01/97 10.250 175,000.00 Y
ML138 10216125302 02/01/97 10.500 140,000.00 Y
ML138 10216125601 02/01/97 11.750 170,000.00 Y
ML138 10216126077 02/01/97 8.625 145,000.00 N
ML138 10216126296 03/01/97 8.625 227,000.00 Y
ML138 10216126387 03/01/97 8.875 148,500.00 Y
ML138 10216126827 03/01/97 9.625 124,000.00 Y
ML138 10216126856 03/01/97 8.875 154,000.00 Y
ML138 10216126868 03/01/97 9.875 116,000.00 Y
ML138 10216127132 03/01/97 10.125 34,900.00 Y
ML138 10216127867 03/01/97 8.875 425,000.00 Y
ML138 10216127939 03/01/97 10.375 162,500.00 Y
ML138 10216128214 03/01/97 10.625 170,000.00 Y
ML138 10216128683 03/01/97 9.875 152,000.00 Y
ML138 10216128987 03/01/97 10.125 70,100.00 Y
------------------ ---------------------------
41 10.029 6,736,500.00
<PAGE>
Alliance Funding Company Page 14 9/16/96
A division of Superior Bank FSB
Sale Schedule B
1996-3 Class 2 - Initial Pool of Adjustable Rate Mortgages - Settlement 9/23/96
<TABLE>
<CAPTION>
Principal Type of Scheduled Cut-off Date Original
Balance at Mortgaged Payment Principal LTV
Sale ID Account Name Origination Property Int & Prin Balance Ratio
- ------------------------------------------------------------------------------------------------------------------------------------
<C> <C> <S> <C> <C> <C> <C> <C>
ML139 10216092541 SAUER ILSE T 148,750.00 SF 1,458.18 148,377.70 85.0
ML139 10216097156 MONTOUR RICHARD D 65,700.00 SF 570.14 65,411.93 90.0
ML139 10216108147 SINGH MUKHTIAR 119,000.00 SF 1,055.32 118,844.92 85.0
ML139 10216111666 GREENE IRENE M 153,000.00 SF 1,286.51 153,000.00 85.0
ML139 10216112292 BIGGS JUNE 76,500.00 SF 636.29 76,461.37 78.0
ML139 10216113005 KIFFER GARY WILLIAM 149,400.00 SF 1,202.11 149,144.60 90.0
ML139 10216115558 KINGSBURY STEPHEN P 59,500.00 SF 549.84 59,453.76 70.0
ML139 10216116060 NASSEREDDINE HUSSEIN 120,000.00 SF 1,019.99 119,942.51 80.0
ML139 10216118181 BARSHAI ANGELA 185,250.00 SF 1,608.62 185,080.97 75.0
ML139 10216118187 KELLY MICHAEL P 55,000.00 SF 477.59 55,000.00 77.4
ML139 10216118463 STEIN BRIAN K 205,200.00 SF 1,744.18 205,101.70 88.0
ML139 10216118691 HARDIAL BIRBAL 98,000.00 MF 841.97 98,000.00 70.0
ML139 10216118822 KUNG HIN T 261,000.00 SF 2,363.11 260,893.45 90.0
ML139 10216118852 OLGUIN ROBERT J 120,000.00 SF 1,131.47 120,000.00 80.0
ML139 10216119475 HANSEN ARNE 63,920.00 SF 620.83 63,898.42 80.0
ML139 10216119979 DAWKINS DARRYL R 448,000.00 SF 3,807.95 448,000.00 75.9
ML139 10216120045 PIERRE DANIEL N 191,250.00 SF 1,713.79 191,169.80 85.0
ML139 10216120471 EMBREY RALPH SIMPSON JR 106,400.00 SF 1,033.42 106,400.00 80.0
ML139 10216121126 WIMBROW WALTER D 124,000.00 SF 1,275.48 123,928.69 80.0
ML139 10216121753 HUNT WARREN 137,600.00 SF 1,284.47 137,600.00 80.0
ML139 10216121821 STEWART WILLIAM A JR 123,000.00 SF 1,034.25 123,000.00 89.7
ML139 10216122575 CORTEZ JOANNE 108,800.00 SF 1,005.42 108,757.91 85.0
ML139 10216122634 MCKIRAHAN PAUL W 52,500.00 MF 465.59 52,500.00 70.0
ML139 10216122858 FIORE PETER 84,000.00 SF 744.93 84,000.00 80.0
ML139 10216123084 CLEMMINGS TREVOR 119,000.00 SF 1,144.52 119,000.00 85.0
ML139 10216123569 RIOS BLADIMIR 68,000.00 MF 603.04 68,000.00 80.0
ML139 10216123642 TEAL CHARLES E SR 90,000.00 SF 684.07 90,000.00 79.6
ML139 10216123651 HECKEL DON 190,000.00 SF 1,755.79 189,926.50 66.0
ML139 10216123869 BRAYTON LISA N 70,400.00 SF 717.38 70,400.00 78.2
ML139 10216124091 IVANOVIC VASO 111,600.00 SF 887.94 111,537.44 90.0
ML139 10216124174 QUINAPALLO NELSON 180,000.00 MF 1,646.53 180,000.00 90.0
ML139 10216124541 ROMINE MICHAEL W 40,000.00 SF 283.12 40,000.00 72.7
ML139 10216124738 SANTINE BENEDICT JUNIOR 70,000.00 SF 666.63 70,000.00 68.6
ML139 10216125267 CALL STEVEN L 87,500.00 SF 825.03 87,500.00 70.0
ML139 10216125557 LURIA RICHARD A 400,000.00 SF 3,473.40 400,000.00 71.6
ML139 10216125667 BAILEY JOHN 186,000.00 SF 1,463.26 186,000.00 79.8
ML139 10216125879 JANICEK JERRY A 135,200.00 SF 1,274.79 135,200.00 80.0
ML139 10216126219 BARTLE TERESA L 48,000.00 SF 470.77 48,000.00 80.0
ML139 10216126364 CORNUT ROBIN M 76,500.00 MF 664.29 76,500.00 90.0
ML139 10216126633 SOSTRE RAMON L 124,000.00 SF 1,076.76 124,000.00 79.8
ML139 10216126642 THOMPSON MARK H 140,000.00 SF 1,164.45 140,000.00 83.0
ML139 10216127102 OAKS LEONARD L 53,600.00 SF 520.60 53,600.00 80.0
ML139 10216127179 CONNOR GERY 127,500.00 SF 902.44 127,500.00 75.0
ML139 10216127250 WHYTE RANDY O 174,200.00 SF 1,642.51 174,200.00 84.9
ML139 10216127328 WASHINGTON EDWARD 229,500.00 SF 2,294.63 229,500.00 85.0
ML139 10216127373 D'ALESSANDRO ROBERT J 83,000.00 SF 645.57 83,000.00 61.1
ML139 10216128250 BAGLIA ANTHONY C 92,200.00 SF 869.34 92,200.00 83.8
--------------------------------------------------------------------- -------------------------------------------
47 Sale Total 6,151,970.00 54,608.31 6,150,031.67 80.4
419 Total with Merrill Lynch 49,629,055.00 436,135.12 49,611,813.92 78.5
479 Grand Total 56,991,800.00 498,991.17 56,969,975.31 78.4
</TABLE>
Next Current Property
Adjustment Mortgage Value at Owner
Sale ID Account Date Rate Origination Occupied
- --------------------------------------------------------------------------------
ML139 10216092541 02/01/97 11.375 175,000.00 Y
ML139 10216097156 12/01/96 9.875 73,000.00 Y
ML139 10216108147 11/01/96 10.125 140,000.00 Y
ML139 10216111666 02/01/97 9.500 180,000.00 Y
ML139 10216112292 01/01/97 9.375 98,000.00 Y
ML139 10216113005 11/01/96 9.000 166,000.00 Y
ML139 10216115558 01/01/97 10.625 85,000.00 Y
ML139 10216116060 01/01/97 9.625 150,000.00 Y
ML139 10216118181 01/01/97 9.875 247,000.00 Y
ML139 10216118187 02/01/97 9.875 71,000.00 Y
ML139 10216118463 02/01/97 9.625 233,000.00 Y
ML139 10216118691 02/01/97 9.750 140,000.00 Y
ML139 10216118822 01/01/97 10.375 290,000.00 Y
ML139 10216118852 02/01/97 10.875 150,000.00 Y
ML139 10216119475 01/01/97 11.250 79,900.00 Y
ML139 10216119979 02/01/97 9.625 590,000.00 Y
ML139 10216120045 02/01/97 10.250 225,000.00 Y
ML139 10216120471 02/01/97 11.250 133,000.00 Y
ML139 10216121126 01/01/97 12.000 155,000.00 Y
ML139 10216121753 02/01/97 10.750 172,000.00 Y
ML139 10216121821 02/01/97 9.500 137,000.00 Y
ML139 10216122575 02/01/97 10.625 128,000.00 Y
ML139 10216122634 02/01/97 10.125 75,000.00 N
ML139 10216122858 03/01/97 10.125 105,000.00 Y
ML139 10216123084 03/01/97 11.125 140,000.00 Y
ML139 10216123569 02/01/97 10.125 85,000.00 N
ML139 10216123642 03/01/97 8.375 113,000.00 Y
ML139 10216123651 02/01/97 10.625 287,828.00 Y
ML139 10216123869 03/01/97 11.875 90,000.00 Y
ML139 10216124091 02/01/97 8.875 124,000.00 Y
ML139 10216124174 02/01/97 10.500 200,000.00 Y
ML139 10216124541 03/01/97 7.625 55,000.00 Y
ML139 10216124738 03/01/97 11.000 102,000.00 Y
ML139 10216125267 02/01/97 10.875 125,000.00 Y
ML139 10216125557 03/01/97 9.875 558,000.00 Y
ML139 10216125667 02/01/97 8.750 233,000.00 Y
ML139 10216125879 03/01/97 10.875 169,000.00 Y
ML139 10216126219 03/01/97 11.375 60,000.00 Y
ML139 10216126364 03/01/97 9.875 85,000.00 Y
ML139 10216126633 03/01/97 9.875 155,320.00 Y
ML139 10216126642 03/01/97 9.375 168,500.00 Y
ML139 10216127102 03/01/97 11.250 67,000.00 Y
ML139 10216127179 02/01/97 7.625 170,000.00 Y
ML139 10216127250 02/01/97 10.875 205,000.00 Y
ML139 10216127328 03/01/97 11.625 270,000.00 Y
ML139 10216127373 03/01/97 8.625 135,700.00 Y
ML139 10216128250 03/01/97 10.875 110,000.00 Y
------------------ ----------------------------
47 10.126 7,706,248.00
419 10.008 64,887,210.00
479 9.963 74,622,910.00
<PAGE>
EXHIBIT I
REQUEST FOR RELEASE OF DOCUMENTS
_____________, 19__
To: [Trustee]
[Custodian]
Re: Pooling and Servicing Agreement, dated as of September 1, 1996,
among Superior Bank FSB, as Depositor, Lee Servicing Company, a
division of Superior Bank FSB, as Servicer, and LaSalle National
Bank, as Trustee relating to AFC Mortgage Loan Asset Backed
Certificates, Series 1996-3
----------------------------------------------------------------
In connection with the administration of the pool of Mortgage Loans held
by you as Trustee or by the Custodian as your agent for the benefit of
Certificateholders, we request the release, and acknowledge receipt, of the
(Trustee's Mortgage File/[specify document]) for the Mortgage Loan described
below, for the reason indicated.
Mortgagor's Name, Address & Zip Code:
Mortgage Loan Number:
Reason for Requesting Documents (check one)
____ 1. Mortgage Loan Paid in Full
(Servicer hereby certifies that all amounts received in
connection therewith have been credited to the Principal and
Interest Account with respect to each Sub-Pool and remitted to
the Trustee for deposit into the related Certificate Account
pursuant to the Pooling and Servicing Agreement.)
____ 2. Mortgage Loan Liquidated
(Servicer hereby certifies that all proceeds of foreclosure,
insurance or other liquidation have been finally received and
credited to the Principal and Interest Account and remitted to
the Trustee for deposit into the related Certificate Account
pursuant to the Pooling and Servicing Agreement.)
____ 3. Mortgage Loan in Foreclosure
<PAGE>
____ 4. Mortgage Loan repurchased pursuant to Section 11.01 of the Pooling
and Servicing Agreement.
____ 5. Mortgage Loan repurchased or substituted pursuant to Article II
or III of the Pooling and Servicing Agreement (Servicer hereby
certifies that the repurchase price or Substitution Adjustment has
been credited to the related Principal and Interest Account and
remitted to the Trustee for deposit into the Certificate Account
pursuant to the Pooling and Servicing Agreement.)
____ 6. Other (explain) _________________________________
__________________________________________________________
If box l or 2 above is checked, and if all or part of the Trustee's
Mortgage File was previously released to us, please release to us our previous
receipt on file with you, as well as any additional documents in your possession
relating to the above specified Mortgage Loan.
If box 3, 4, 5 or 6 above is checked, upon our return of all of the above
documents to you as Trustee, please acknowledge your receipt by signing in the
space indicated below, and returning this form.
Capitalized words and phrases used herein shall have the respective
meanings assigned to them in the Pooling and Servicing Agreement.
_______________________________
By:____________________________
Name:__________________________
Title:_________________________
Documents returned to Trustee or Custodian:
__________________________
[Trustee][Custodian]
By:____________________________
Date:__________________________
-2-
<PAGE>
EXHIBIT J
TRANSFER AFFIDAVIT
STATE OF )
) ss.:
COUNTY OF )
The undersigned, being first duly sworn, deposes and says as follows:
1. The undersigned is an officer of ________, the proposed transferee (the
"Transferee") of a Percentage Interest in a Class R Certificate (the
"Certificate") issued pursuant to the Pooling and Servicing Agreement, dated as
of September 1, 1996 (the "Agreement"), among Superior Bank FSB, as depositor
(the "Depositor"), Lee Servicing Company, a division of Superior Bank FSB, as
servicer (the "Servicer"), and LaSalle National Bank, as trustee (the
"Trustee"). Capitalized terms used, but not defined herein shall have the
meanings ascribed to such terms in the Agreement. The Transferee has authorized
the undersigned to make this affidavit on behalf of the Transferee.
2. The Transferee is, as of the date hereof, and will be, as of the date
of the transfer, a Permitted Transferee. The Transferee is acquiring its
Percentage Interest in the Certificate either (i) for its own account or (ii) as
nominee, trustee or agent for another Person and has attached hereto an
affidavit from such Person in substantially the same form as this affidavit. The
Transferee has no knowledge that any such affidavit is false.
3. The Transferee has been advised of, and understands that (i) a tax will
be imposed on transfers of the Certificate to Persons that are not Permitted
Transferees; (ii) such tax will be imposed on the transferror, or, if such
transfer is through an agent (which includes a broker, nominee or middleman) for
a Person that is not a Permitted Transferee, on the agent; and (iii) the Person
otherwise liable for the tax shall be relieved of liability for the tax if the
subsequent Transferee furnished to such Person an affidavit that such subsequent
Transferee is a Permitted Transferee and, at the time of transfer, such Person
does not have actual knowledge that the affidavit is false.
4. The Transferee has been advised of, and understands that, a tax will be
imposed on a "pass-through entity" holding the Certificate if at any time during
the taxable year of the pass through entity a Person that is not a Permitted
Transferee is the record holder of an interest in such entity. The Transferee
understands that such tax will not be imposed for any period with respect to
which the record holder furnishes to the pass-through entity an affidavit that
such record holder is a Permitted Transferee and the pass-through entity does
not have actual knowledge that such affidavit is false. (For this purpose, a
"pass-through entity" includes a regulated investment company, a real estate
investment trust or common trust fund, a partnership trust or estate, and
certain cooperatives and, except as may be provided in Treasury Regulations,
persons holding interests in pass-through entities as a nominee for another
Person.)
<PAGE>
5. The Transferee has reviewed the provisions of Section 4.02 of the
Agreement (incorporated herein by reference) and understands the legal
consequences of the acquisition of a Percentage Interest in the Certificate
including, without limitation, the restrictions on subsequent transfers and the
provisions regarding voiding the transfer and mandatory sales. The Transferee
expressly agrees to be bound by and to abide by the provisions of Section 4.02
of the Agreement and the restrictions noted on the face of the Certificate. The
Transferee understands and agrees that any breach of any of the representations
included herein shall render the transfer to the Transferee contemplated hereby
null and void.
6. The Transferee agrees to require a Transfer Affidavit from any Person
to whom the Transferee attempts to transfer its Percentage Interest in the
Certificate, and in connection with any transfer by a Person for whom the
Transferee is acting as nominee, trustee or agent, and the Transferee will not
transfer its Percentage Interest or cause any Percentage Interest to be
transferred to any Person that the Transferee knows is not a Permitted
Transferee or if any purpose of such proposed transfer is to impede the
assessment or collection of tax. In connection with any such transfer by the
Transferee, the Transferee agrees to deliver to the Trustee a certificate (a
"Transfer Certificate") to the effect that such Transferee has no actual
knowledge that the Person to which the transfer is to be made is not a Permitted
Transferee.
7. The Transferee's taxpayer identification number is ______________.
8. No purpose of the Transferee relating to its purchase of a Percentage
Interest in the Certificate by the Transferee is or will be to impede the
assessment or collection of any tax.
9. The Transferee has no present knowledge or expectation that it will be
unable to pay any United States taxes owed by it so long as the Certificate
remains outstanding.
10. The Transferee has no present knowledge or expectation that it will
become insolvent or subject to a bankruptcy proceeding for so long as any of the
Certificates remain outstanding. In this regard, the Transferee hereby
represents to and for the benefit of the person from whom it acquired the Class
R Certificates that the Transferee intends to pay taxes associated with holding
such Class R Certificates as they become due, fully understanding that it may
incur tax liabilities in excess of any cash flows generated by the Class R
Certificates.
11. No purpose of the Transferee relating to any sale of any Percentage
Interest in the Certificate by the Transferee will be to impede the assessment
or collection of tax.
12. The Transferee is not a Non-United States Person.
-2-
<PAGE>
IN WITNESS WHEREOF, the Transferee has caused this instrument to be
executed on its behalf, pursuant to authority of its Board of Directors, by its
duly authorized officer and its corporate seal to be hereunto affixed, duly
attested, this day of , 19
[NAME OF TRANSFEREE]
By:___________________________
Name:_________________________
Title:________________________
[Corporate Seal]
ATTEST:
________________________________
[Officer of Transferee]
-3-
<PAGE>
STATE OF )
) ss.:
COUNTY OF )
Personally appeared before me the above-named _______________, known or
proved to me to be the same person who executed the foregoing instrument and to
be the __________ of the Transferee, and acknowledged that he executed the same
as his free act and deed and the free act and deed of the Transferee.
Subscribed and sworn before me this ____ day of _____________, 19__.
__________________________
NOTARY PUBLIC
My Commission expires the ___ day of _______, 19
<PAGE>
EXHIBIT J-1
FORM OF TRANSFER CERTIFICATE
___________, 19__
[Trustee]
Attention: Corporate Trust
Re: AFC Mortgage Loan Asset Backed Certificates,
Series 1996-3
---------------------------------------------
Dear Sirs:
This letter is delivered to you in connection with the transfer by
___________ (the "Transferor") to _____________ (the "Transferee") of ___%
Percentage Interest in the AFC Mortgage Loan Asset Backed Certificates, Series
1996-3, Class R (the "Certificate"), pursuant to Section 4.02 of the Pooling and
Servicing Agreement (the "Pooling and Servicing Agreement"), dated as of
September 1, 1996, among Superior Bank FSB, as depositor, Lee Servicing Company,
a division of Superior Bank FSB, as servicer, and LaSalle National Bank, as
trustee. All terms used herein and not otherwise defined shall have the meanings
set forth in the Pooling and Servicing Agreement. The Transferor hereby
certifies, represents and warrants to, and covenants with, the Trustee that:
1. No purpose of the Transferor relating to the transfer of the
Certificate by the Transferor to the Transferee is or will be to impede the
assessment or collection of any tax.
2. The Transferor understands that the Transferee has delivered to the
Trustee a Transfer Affidavit in the form attached to the Pooling and Servicing
Agreement as Exhibit J. The Transferor does not know or believe that any
representation contained therein is false.
3. The Transferor has at the time of the transfer conducted a reasonable
investigation of the financial condition of the Transferee as contemplated by
Treasury Regulations Section 1.860E-1(c)(4)(i) and, as a result of that
investigation, the Transferor has determined that the Transferee has
historically paid its debts as they become due and has found no significant
evidence to indicate that the Transferee will not continue to pay its debts as
they become due in the future. The Transferor understands that the transfer of
the Certificates may not be respected for United States income tax purposes (and
the Transferor may continue to be liable for United States income taxes
associated therewith) unless the Transferor has conducted such an investigation.
<PAGE>
4. The Transferor has no actual knowledge that the proposed Transferee is
not a Permitted Transferee or a Non-United States Person.
Very truly yours,
______________________________
(Transferor)
By:___________________________
Name:_________________________
Title:________________________
-2-
<PAGE>
EXHIBIT K
FORM OF NOTICE
TO:
RE:
Policy Number:
Determination Date:
Remittance Date:
We refer to that certain Pooling and Servicing Agreement among Superior Bank
FSB, as depositor, Lee Servicing Company, a division of Superior Bank FSB, as
servicer, and LaSalle National Bank, as trustee, relating to AFC Mortgage Loan
Asset Backed Certificates, Series 1996-3 (the "Agreement") and dated as of
September 1, 1996; all capitalized terms not otherwise defined herein shall have
the same respective meanings as set forth in the Agreement.
As of the Determination Date and based upon the Servicer's Certificate for such
Determination Date, the Trustee has determined under the Agreement that in
respect of the Remittance Date:
(i) The Class A Interest Remittance Amount with respect to all related
Classes of Class A Certificates with respect to Sub-Pool [1][2] due
and owing is $_______________;
(ii) The Class A Principal Remittance Amount with respect to Sub-Pool
[1][2], exclusive of the amount set forth in clause B (vi) of the
definition thereof if not paid by the Depositor, due and owing is
$_____________;
(iii) The Available Remittance Amount (minus the amount withdrawable from
the Sub-Pool [1][2] Certificate Account to pay the Certificate
Insurer pursuant to Section 6.02(i) of the Agreement and as reduced
by any portion thereof that has been deposited in the Sub-Pool
[1][2] Certificate Account but may not be withdrawn therefrom
pursuant to an order of a United States bankruptcy court of
competent jurisdiction imposing a stay pursuant to Section 362 of
the United States Bankruptcy Code) is $_____________;
(iv) The lesser of (1) the sum of the (a) Excess Spread to be deposited
into the Sub-Pool [1][2] Certificate Account pursuant to Section
5.04(i) of the Agreement,
<PAGE>
(b) the Net Excess Spread from the other Sub-Pool and (c) the Excess
Principal from the other Sub-Pool and (2) the Subordinated Amount,
is $_____________;
(v) The aggregate amount of unreimbursed Insured Payments, together with
the aggregate portion of the items described in clauses (i) and
(iii) above that represents interest accrued in respect of Insured
Payments in accordance with the definition of Class A Carry-Forward
Amount in the Agreement, is $__________;
(vi) The additional portion of the Amount Available constituting Excess
Spread available to pay the Class A Interest Remittance Amount with
respect to all related Classes of Class A Certificates pursuant to
Sections 6.06(c)(A)(Y)(i) through (vi) with respect to Sub-Pool 1
and Section 6.06(c)(B)(Y)(i) with respect to Sub-Pool 2.
(vii) The aggregate amount to be deposited from the Sub-Pool [1][2]
Reserve Account into the Sub-Pool [1][2] Certificate Account
pursuant to Section 6.14(c) of the Agreement is $______________.
Please be advised that the amounts described in clauses (i) and (ii) above
collectively exceed the amounts described in clauses [,prior to the Cross-Over
Date, (iii), (iv) and,] (v) [on or after the Cross-Over Date, clauses (iii), (v)
and (vi) (in the case of Sub-Pool 1),] and (vii) above by
$____________.
[Attached hereto is a copy of the court order in connection with a voidable
preference in the amount set forth therein, together with an assignment of
rights and appointment of agent.]
Accordingly, pursuant to Section 6.06 of the Agreement, this statement
constitutes a claim for an Insured Payment in the amount of $_________ under the
Certificate Insurance Policy.
Any person who knowingly and with intent to defraud any insurance company or
other person files an application for insurance or statement of claim containing
any materially false information, or conceals for the purpose of misleading,
information concerning any fact material thereto, commits a fraudulent insurance
act, which is a crime, and shall also be subject to a civil penalty not to
exceed Five Thousand Dollars ($5,000.00) and the stated value of the claim for
each such violation.
LASALLE NATIONAL BANK, as Trustee
By:_______________________________
Name:_____________________________
Title:____________________________
Telephone_________________________
-2-
<PAGE>
EXHIBIT L
CUSTODIAL AGREEMENT
Dated __________, 199_
______________________________, a ____________________, as Trustee (the
"Trustee") and _________________________________, a
______________________________ ("_________________"), agree as follows:
WHEREAS, concurrently herewith, the Trustee, Superior Bank FSB (the
"Depositor") and Lee Servicing Company, a division of Superior Bank FSB, (the
"Servicer) are entering into a Pooling and Servicing Agreement, dated as of
September 1, 1996, relating to AFC Mortgage Loan Asset Backed Certificates,
Series 1996-3 (the "Pooling Agreement", the terms defined therein being used
herein with the same meaning) pursuant to which the Depositor shall transfer,
assign, set-over and otherwise convey to the Trustee, without recourse, all of
the Depositor's right, title and interest in and to the mortgage loans
consisting of Sub-Pool 1 and Sub-Pool 2 identified in Exhibits H-1 and H-2 to
the Pooling Agreement (the "Mortgage Loans"), other than as to the Depositor's
Yield; and
WHEREAS, in connection with such transfer and assignment and pursuant to
the Pooling Agreement, the Trustee shall hold, directly or pursuant to a
custodial agreement, the Trustee's Mortgage Files;
WITNESSETH THAT, in consideration of the premises and of the mutual
agreements herein contained, _________________ and the Trustee agree as follows:
1. Appointment as Custodian; Acknowledgment of Receipt. Subject to the
terms and conditions herein, the Trustee hereby appoints ________________, and
______________ hereby accepts such appointment, as its Custodian to maintain
custody of the Trustee's Mortgage Files. __________________ hereby acknowledges
receipt of the Mortgage Notes, the Mortgages, the assignments and other
documents relating to the Mortgage Loans referred to in Section 2.04, except for
the items referred to in Section 2.04(f), of the Pooling Agreement. The Trustee
shall be liable for all of _______________________ fees under this Agreement.
2. Maintenance of Office. __________________ agrees to maintain each
Trustee's Mortgage File identified in Section 2.04 of the Pooling Agreement,
which is incorporated herein by reference, at the office of ___________________
located at _______________________________________________ or at such other
office of _________________ in ____________________ as ________________ shall
designate from time to time after giving the Trustee 30 days' prior written
notice.
-1-
<PAGE>
3. Duties of Custodian. As Custodian, _____________ shall have and perform
the following powers and duties:
(a) Safekeeping. To segregate the Trustee's Mortgage Files from all
other mortgages and mortgage notes and similar records in its possession,
to identify the Trustee's Mortgage Files as being held and to hold the
Trustee's Mortgage Files for and on behalf of the Trustee for the benefit
of all present and future Certificateholders, to maintain accurate records
pertaining to each Mortgage Note and Mortgage in the Trustee's Mortgage
Files as will enable the Trustee to comply with the terms and conditions
of the Pooling Agreement, to maintain at all times a current inventory
thereof and to conduct periodic physical inspections of the Trustee's
Mortgage Files held by it under this Agreement in such a manner as shall
enable the Trustee and _________________ to verify the accuracy of such
record-keeping, inventory and physical possession. _________________ will
promptly report to the Trustee any failure on its part to hold the
Trustee's Mortgage Files as herein provided and promptly take appropriate
action to remedy any such failure.
(b) Release of Documents. To release any Mortgage Note and Mortgage
in the Trustee's Mortgage Files as provided in the Pooling Agreement.
(c) Administration; Reports. In general, to attend to all
non-discretionary details in connection with maintaining custody of the
Trustee's Mortgage Files on behalf of the Trustee. In addition,
________________ shall assist the Trustee generally in the preparation of
reports to Certificateholders or to regulatory bodies to the extent
necessitated by ________________ custody of the Trustee's Mortgage Files.
4. Access to Records. __________________ shall permit the Trustee or its
duly authorized depositors, attorneys or auditors and those persons permitted
access pursuant to Section 5.13 of the Pooling Agreement to inspect the
Trustee's Mortgage Files and the books and records maintained by
__________________ pursuant hereto at such times as they may reasonably request,
subject only to compliance with the terms of the Pooling Agreement.
5. Instructions; Authority to Act. ______________ shall be deemed to have
received proper instructions with respect to the Trustee's Mortgage Files upon
its receipt of written instructions signed by a Responsible Officer of the
Trustee. A certified copy of a resolution of the Board of Directors of the
Trustee may be accepted by _______________ as conclusive evidence of the
authority of any such officer to act and may be considered as in full force and
effect until receipt of written notice to the contrary by ______________ from
the Trustee. Such instructions may be general or specific in terms.
6. Indemnification by ___________. _________________ agrees to indemnify
the Trustee for any and all liabilities, obligations, losses, damages, payments,
costs or expenses,
-2-
<PAGE>
including attorneys fees, of any kind whatsoever which may be imposed on,
incurred by or asserted against the Trustee as the result of any act or omission
in any way relating to the maintenance and custody by ___________________ of the
Trustee's Mortgage Files; provided, however, that ___________________ shall not
be liable for any portion of any such amount resulting from the gross negligence
or wilful misconduct of the Trustee.
7. Advice of Counsel. __________________ and the Trustee further agree
that ____________________ shall be entitled to rely and act upon the advice of
counsel with respect to its performance hereunder as Custodian and shall be
without liability for any action reasonably taken pursuant to such advice,
provided that such action is not in violation of applicable Federal or State
law. This paragraph shall not negate _______________ obligations under paragraph
6 above.
8. Effective Period, Termination and Amendment, and Interpretive and
Additional Provisions. This Agreement shall become effective as of the date
hereof and shall continue in full force and effect until terminated as
hereinafter provided, and may be amended at any time by mutual agreement of the
parties hereto. This Agreement may be terminated by either party in a writing
delivered or mailed, postage prepaid, to the other party, such termination to
take effect no sooner than sixty (60) days after the date of such delivery or
mailing. Concurrently with, or as soon as practicable after, the termination of
this Agreement, _________________ shall redeliver the Trustee's Mortgage Files
to the Trustee at such place as the Trustee may reasonably designate. In
connection with the administration of this Agreement, ________________ and the
Trustee may agree from time to time upon the interpretation of the provisions of
this Agreement as may in their opinion by consistent with the general tenor and
purposes of this Agreement, any such interpretation to be signed and annexed
hereto.
9. Governing Law. This Agreement shall be governed by, and construed in
accordance with, the laws of the State of New York.
10. Notices. Notices and other writings shall be delivered or mailed,
postage prepaid, to the Trustee at, or to __________________________________ at,
____________________________________, Attention: ______________________; or to
such other address as the Trustee or ________________ may hereafter specify in
writing. Notices or other writings shall be effective only upon actual receipt
by the parties.
11. Binding Effect. This Agreement shall be binding upon and shall inure
to the benefit of the Trustee and ____________________ and their respective
successors and assigns. Concurrently with the appointment of a successor trustee
as provided in Section 12.08 of the Pooling Agreement, the Trustee and
___________________ shall amend this Agreement to make said successor trustee
the successor to the Trustee hereunder.
12. Counterparts. This Agreement may be executed in one or more
counterparts and by the different parties hereto on separate counterparts, each
of which, when
-3-
<PAGE>
so executed, shall be deemed to be an original; such counterparts, together,
shall constitute one and the same agreement.
-4-
<PAGE>
IN WITNESS WHEREOF, each of the parties hereto has caused this Agreement
to be executed in its name and on its behalf by a duly authorized officer as of
the day and year first above written.
LASALLE NATIONAL BANK,
as Trustee under the Pooling
Agreement referred to above
By:_________________________________
____________________________________,
as Custodian
By:_________________________________
-5-
<PAGE>
EXHIBIT M
FORM OF LIQUIDATION REPORT
Customer Name:
Account Number:
Original Principal Balance:
1. Liquidation Proceeds
Principal Prepayment $_____
Property Sale Proceeds _____
Insurance Proceeds _____
Other (Itemize) _____
Total Proceeds $_____
2. Servicing Advances $_____
Monthly Advances _____
Servicing Fees _____
Annual Trustee Expense Amount _____
Total Advances $_____
3. Net Liquidation Proceeds $_____
(Line 1 minus Line 2)
4. Principal Balance of the Mortgage
Loan on date of liquidation $_____
5. Realized Loss, if any $_____
(Line 4 minus Line 3)
<PAGE>
EXHIBIT N
FORM OF DELINQUENCY REPORT
DELINQUENCY AND FORECLOSURE INFORMATION
<TABLE>
<CAPTION>
REO FORECLOSURES
--------------------------------------------
OUTSTANDING # # OF # OF OUTSTANDING # OF OUTSTANDING
INVESTOR DOLLARS ACCT RANGES AMOUNT ACCTS. PCT ACCTS. DOLLARS % ACCTS DOLLARS %
- --------------------------------------------------------------------------------------------------------------------
<S> <C>
REMIC
199_-__ 30 TO 59 DAYS
60 TO 89 DAYS
90 AND OVER
TOTALS
</TABLE>
<PAGE>
EXHIBIT O
CERTIFICATE INSURANCE POLICY
<PAGE>
Financial Guaranty Insurance Company
115 Broadway
New York, New York 10006
(212) 312-3000
(800) 352-0001
Surety Bond
Issuer: AFC Mortgage Loan Policy Number: 96010522
Trust 1996-3 Control Number: 0010001
Insured Obligations: Deposit Premium: $26,000.00
$240,000,000 in principal amount
of AFC Mortgage Loan Asset Backed
Certificates, Series 1996-3, Class A
Trustee: LaSalle National Bank
Financial Guaranty Insurance Company ("Financial Guaranty"), a New York stock
insurance company, in consideration of its receipt of the Deposit Premium and
subject to the terms of this Certificate Insurance Policy (the "Policy"), hereby
unconditionally and irrevocably agrees to pay each Insured Payment to the
Trustee named above or its successor, as trustee (the "Trustee"), for the
benefit of the holders of the Class 1A-1, Class 1A-2, Class 1A-3, Class 1A-4,
Class 1A-5, Class 1A-6 and Class 2A Certificates (collectively, the "Class A
Certificates").
Financial Guaranty will make such payment out of its own funds by 2:00 P.M. (New
York City Time) in immediately available funds to the Trustee on the later of
(i) the Business Day next following the day on which Financial Guaranty shall
have received Notice that an Insured Payment is due and (ii) the Remittance Date
on which the Insured Payment is distributable to Class A Certificateholders
pursuant to the Pooling and Servicing Agreement, for disbursement by the Trustee
to the Class A Certificateholders in the same manner as the payment of
distributions with respect to Class A Certificates. Upon such payment, Financial
Guaranty shall be fully subrogated to the rights of the Class A
Certificateholders, as appropriate, to receive the amount so paid as set forth
in Section 6.06 of the Pooling and Servicing Agreement. Financial Guaranty's
obligations hereunder shall be discharged to the extent funds equal to the Class
A Remittance Amount are received on or before any Remittance Date by the Trustee
on behalf of the Class A Certificateholders, for distribution on such Remittance
Date as provided in the Pooling and Servicing Agreement and herein, whether or
not such funds are properly applied by the Trustee.
This Policy is non-cancelable for any reason, including nonpayment of any
premium. The premium on this Policy is not refundable for any reason, including
the payment of the Class A Certificates prior to their maturity.
Form 9013
Page 1 of 3
<PAGE>
Financial Guaranty Insurance Company
115 Broadway
New York, New York 10006
(212) 312-3000
(800) 352-0001
Surety Bond
This Policy is subject to and shall be governed by the laws of the State of New
York. The proper venue for any action or proceeding on this Policy shall be the
County of New York, State of New York. The insurance provided by this Policy is
not covered by the New York Property/Casualty Insurance Security Fund (New York
Insurance Code, Article 76).
As used herein, the following terms shall have the following meanings:
"Available Remittance Amount", "Business Day", "Certificate Account", "Class A
Interest Remittance Amount", "Class A Principal Remittance Amount", "Class A
Remittance Amount", "Cross-Over Date", "Excess Spread", "Insured Payment",
"Premium Percentage", "Remittance Date", "Reserve Account" and "Subordinated
Amount" shall have the respective meanings set forth in the Pooling and
Servicing Agreement. "Notice" means written notice in the form of Exhibit K to
the Pooling and Servicing Agreement by registered or certified mail or
telephonic or telegraphic notice, subsequently confirmed by written notice
delivered via telegraph, telex or hand delivery from the Trustee to Financial
Guaranty specifying, for such Remittance Date, the Class A Interest Remittance
Amount, Class A Principal Remittance Amount, if prior to the Cross-Over Date the
lesser of the Subordinated Amount and the related Excess Spread to be deposited
into the related Certificate Account, the related Available Remittance Amount
(exclusive of any portion thereof that may not be withdrawn from the related
Certificate Account pursuant to a stay imposed by an order of a United States
bankruptcy court under Section 362 of the United States Bankruptcy Code and
amounts required to be withdrawn from the related Certificate Account to pay the
monthly insurance premium to Financial Guaranty under the Pooling and Servicing
Agreement), any amount transferred from the related Reserve Account to the
related Certificate Account, and the related Insured Payment. "Class A
Certificateholder" means, as to a particular Class A Certificate, the person,
other than the Trust Fund, the Servicer, any Subservicer or the Depositor (as
such terms are defined in the Pooling and Servicing Agreement), who, on the
applicable Remittance Date, is entitled under the terms of such Certificate to
payment thereof. "Pooling and Servicing Agreement" means the Pooling and
Servicing Agreement by and among Superior Bank FSB, as Depositor, Lee Servicing
Company, a division of Superior Bank FSB, as Servicer, and LaSalle National
Bank, as Trustee, dated as of September 1, 1996, authorizing the issuance of the
Certificates.
Form 9013
Page 2 of 3
<PAGE>
Financial Guaranty Insurance Company
115 Broadway
New York, New York 10006
(212) 312-3000
(800) 352-0001
Surety Bond
In addition to the Deposit Premium set forth on the face of this Policy, a
monthly premium shall be due and payable on this Policy on the 25th day of each
month following the date hereof commencing October 25, 1996 in an amount equal
to one-twelfth of the product of (i) the Premium Percentage and (ii) the
outstanding Class A Principal Balance on the Remittance Date on which said
monthly premium shall be due and payable.
In the event that payments under any Class A Certificate is accelerated, nothing
herein contained shall obligate Financial Guaranty to make any payment of
principal or interest on such Certificates on an accelerated basis, unless such
acceleration of payment by Financial Guaranty is at the sole option of Financial
Guaranty.
In Witness Whereof, Financial Guaranty has caused this Surety Bond to be affixed
with its corporate seal and to be signed by its President in facsimile to become
effective and binding upon Financial Guaranty by virtue of the countersignature
of its duly authorized representative.
/s/ /s/ Michael Miran
- --------------- -----------------
President Authorized Representative
Effective Date: September 25, 1996
Form 9013
Page 3 of 3
<PAGE>
EXHIBIT P
PRINCIPAL PAYMENT TABLES
<PAGE>
ALLIANCE 1996-3 07-Oct-96
04:05:00 PM
Principal Prepayment Table
Class 1A
Principal
Balance
150,000,000.00
1 Sep-96 150,000,000.00
2 Oct-96 150,000,000.00
3 Nov-96 150,000,000.00
4 Dec-96 150,000,000.00
5 Jan-97 150,000,000.00
6 Feb-97 150,000,000.00
7 Mar-97 150,000,000.00
8 Apr-97 150,000,000.00
9 May-97 150,000,000.00
10 Jun-97 150,000,000.00
11 Jul-97 150,000,000.00
12 Aug-97 150,000,000.00
13 Sep-97 150,000,000.00
14 Oct-97 150,000,000.00
15 Nov-97 150,000,000.00
16 Dec-97 150,000,000.00
17 Jan-98 150,000,000.00
18 Feb-98 150,000,000.00
19 Mar-98 150,000,000.00
20 Apr-98 150,000,000.00
21 May-98 150,000,000.00
22 Jun-98 150,000,000.00
23 Jul-98 150,000,000.00
24 Aug-98 150,000,000.00
25 Sep-98 150,000,000.00
26 Oct-98 150,000,000.00
27 Nov-98 150,000,000.00
28 Dec-98 150,000,000.00
29 Jan-99 150,000,000.00
30 Feb-99 150,000,000.00
31 Mar-99 150,000,000.00
32 Apr-99 150,000,000.00
33 May-99 150,000,000.00
34 Jun-99 150,000,000.00
35 Jul-99 150,000,000.00
36 Aug-99 150,000,000.00
37 Sep-99 150,000,000.00
38 Oct-99 150,000,000.00
39 Nov-99 150,000,000.00
40 Dec-99 150,000,000.00
41 Jan-2000 150,000,000.00
Page 1
<PAGE>
ALLIANCE 1996-3 07-Oct-96
04:05:00 PM
Principal Prepayment Table
Class 1A
Principal
Balance
42 Feb-2000 150,000,000.00
43 Mar-2000 150,000,000.00
44 Apr-2000 150,000,000.00
45 May-2000 150,000,000.00
46 Jun-2000 150,000,000.00
47 Jul-2000 150,000,000.00
48 Aug-2000 150,000,000.00
49 Sep-2000 150,000,000.00
50 Oct-2000 150,000,000.00
51 Nov-2000 150,000,000.00
52 Dec-2000 150,000,000.00
53 Jan-2001 150,000,000.00
54 Feb-2001 150,000,000.00
55 Mar-2001 150,000,000.00
56 Apr-2001 150,000,000.00
57 May-2001 150,000,000.00
58 Jun-2001 150,000,000.00
59 Jul-2001 150,000,000.00
60 Aug-2001 150,000,000.00
61 Sep-2001 147,630,467.25
62 Oct-2001 147,546,593.75
63 Nov-2001 147,461,911.38
64 Dec-2001 147,376,412.31
65 Jan-2002 147,290,088.69
66 Feb-2002 147,202,932.55
67 Mar-2002 147,114,935.88
68 Apr-2002 147,026,090.55
69 May-2002 146,936,388.39
70 Jun-2002 146,845,821.14
71 Jul-2002 146,754,380.45
72 Aug-2002 146,662,057.89
73 Sep-2002 146,568,844.97
74 Oct-2002 146,474,733.09
75 Nov-2002 146,379,713.59
76 Dec-2002 146,283,777.71
77 Jan-2003 146,186,916.61
78 Feb-2003 146,089,121.38
79 Mar-2003 145,990,383.00
80 Apr-2003 145,890,692.38
81 May-2003 145,790,040.32
82 Jun-2003 145,688,417.57
83 Jul-2003 145,585,814.76
Page 2
<PAGE>
ALLIANCE 1996-3 07-Oct-96
04:05:00 PM
Principal Prepayment Table
Class 1A
Principal
Balance
84 Aug-2003 145,482,222.44
85 Sep-2003 145,377,631.06
86 Oct-2003 145,272,030.99
87 Nov-2003 145,165,412.50
88 Dec-2003 145,057,765.77
89 Jan-2004 144,949,080.88
90 Feb-2004 144,839,347.83
91 Mar-2004 144,728,556.49
92 Apr-2004 144,616,696.67
93 May-2004 144,503,758.06
94 Jun-2004 144,389,730.26
95 Jul-2004 144,274,602.76
96 Aug-2004 144,158,364.96
97 Sep-2004 144,041,006.14
98 Oct-2004 143,922,515.50
99 Nov-2004 143,802,882.12
100 Dec-2004 143,682,094.99
101 Jan-2005 143,560,142.96
102 Feb-2005 143,437,014.82
103 Mar-2005 143,312,699.21
104 Apr-2005 143,187,184.69
105 May-2005 143,060,459.68
106 Jun-2005 142,932,512.53
107 Jul-2005 142,803,331.43
108 Aug-2005 142,672,904.50
109 Sep-2005 142,541,219.71
110 Oct-2005 142,408,264.93
111 Nov-2005 142,274,027.92
112 Dec-2005 142,138,496.31
113 Jan-2006 142,001,657.61
114 Feb-2006 141,863,499.23
115 Mar-2006 141,724,008.42
116 Apr-2006 141,583,172.34
117 May-2006 141,440,978.02
118 Jun-2006 141,297,412.36
119 Jul-2006 141,152,462.12
120 Aug-2006 141,006,113.97
121 Sep-2006 140,858,354.41
122 Oct-2006 140,709,169.84
123 Nov-2006 140,558,546.51
124 Dec-2006 140,406,470.54
125 Jan-2007 140,252,927.93
Page 3
<PAGE>
ALLIANCE 1996-3 07-Oct-96
04:05:00 PM
Principal Prepayment Table
Class 1A
Principal
Balance
126 Feb-2007 140,097,904.54
127 Mar-2007 139,941,386.07
128 Apr-2007 139,783,358.11
129 May-2007 139,623,806.11
130 Jun-2007 139,462,715.36
131 Jul-2007 139,300,071.03
132 Aug-2007 139,135,858.13
133 Sep-2007 138,970,061.53
134 Oct-2007 138,802,665.96
135 Nov-2007 138,633,656.01
136 Dec-2007 138,463,016.09
137 Jan-2008 138,290,730.49
138 Feb-2008 138,116,783.34
139 Mar-2008 137,941,158.62
140 Apr-2008 137,763,840.14
141 May-2008 137,584,811.57
142 Jun-2008 137,404,056.42
143 Jul-2008 137,221,558.04
144 Aug-2008 137,037,299.61
145 Sep-2008 136,851,264.16
146 Oct-2008 136,663,434.55
147 Nov-2008 136,473,793.47
148 Dec-2008 136,282,323.47
149 Jan-2009 136,089,006.89
150 Feb-2009 135,893,825.94
151 Mar-2009 135,696,762.62
152 Apr-2009 135,497,798.79
153 May-2009 135,296,916.11
154 Jun-2009 135,094,096.09
155 Jul-2009 134,889,320.03
156 Aug-2009 134,682,569.07
157 Sep-2009 134,473,824.17
158 Oct-2009 134,263,066.09
159 Nov-2009 134,050,275.42
160 Dec-2009 133,835,432.55
161 Jan-2010 133,618,517.70
162 Feb-2010 133,399,510.88
163 Mar-2010 133,178,391.92
164 Apr-2010 132,955,140.44
165 May-2010 132,729,735.88
166 Jun-2010 132,502,157.48
167 Jul-2010 132,272,384.26
Page 4
<PAGE>
ALLIANCE 1996-3 07-Oct-96
04:05:00 PM
Principal Prepayment Table
Class 1A
Principal
Balance
168 Aug-2010 132,040,395.06
169 Sep-2010 131,806,168.52
170 Oct-2010 131,569,683.04
171 Nov-2010 131,330,916.85
172 Dec-2010 131,089,847.95
173 Jan-2011 130,846,454.13
174 Feb-2011 130,600,712.97
175 Mar-2011 130,352,601.84
176 Apr-2011 130,102,097.86
177 May-2011 129,849,177.98
178 Jun-2011 129,593,818.88
179 Jul-2011 69,858,990.60
180 Aug-2011 69,718,886.29
181 Sep-2011 69,577,426.47
182 Oct-2011 69,434,598.03
183 Nov-2011 69,290,387.72
184 Dec-2011 69,144,782.18
185 Jan-2012 68,997,767.90
186 Feb-2012 68,849,331.26
187 Mar-2012 68,699,458.49
188 Apr-2012 68,548,135.71
189 May-2012 68,395,348.88
190 Jun-2012 68,241,083.83
191 Jul-2012 68,085,326.27
192 Aug-2012 67,928,061.76
193 Sep-2012 67,769,275.71
194 Oct-2012 67,608,953.41
195 Nov-2012 67,447,079.99
196 Dec-2012 67,283,640.44
197 Jan-2013 67,118,619.62
198 Feb-2013 66,952,002.22
199 Mar-2013 66,783,772.79
200 Apr-2013 66,613,915.75
201 May-2013 66,442,415.34
202 Jun-2013 66,269,255.66
203 Jul-2013 66,094,420.67
204 Aug-2013 65,917,894.14
205 Sep-2013 65,739,659.72
206 Oct-2013 65,559,700.88
207 Nov-2013 65,378,000.94
208 Dec-2013 65,194,543.06
209 Jan-2014 65,009,310.22
Page 5
<PAGE>
ALLIANCE 1996-3 07-Oct-96
04:05:00 PM
Principal Prepayment Table
Class 1A
Principal
Balance
210 Feb-2014 64,822,285.25
211 Mar-2014 64,633,450.81
212 Apr-2014 64,442,789.41
213 May-2014 64,250,283.35
214 Jun-2014 64,055,914.79
215 Jul-2014 63,859,665.72
216 Aug-2014 63,661,517.95
217 Sep-2014 63,461,453.09
218 Oct-2014 63,259,452.60
219 Nov-2014 63,055,497.76
220 Dec-2014 62,849,569.65
221 Jan-2015 62,641,649.20
222 Feb-2015 62,431,717.11
223 Mar-2015 62,219,753.92
224 Apr-2015 62,005,740.00
225 May-2015 61,789,655.49
226 Jun-2015 61,571,480.36
227 Jul-2015 61,351,194.39
228 Aug-2015 61,128,777.15
229 Sep-2015 60,904,208.02
230 Oct-2015 60,677,466.19
231 Nov-2015 60,448,530.63
232 Dec-2015 60,217,380.12
233 Jan-2016 59,983,993.22
234 Feb-2016 59,748,348.31
235 Mar-2016 59,510,423.54
236 Apr-2016 59,270,196.84
237 May-2016 59,027,645.95
238 Jun-2016 58,782,748.38
239 Jul-2016 58,535,481.43
240 Aug-2016 58,285,822.16
241 Sep-2016 58,033,747.45
242 Oct-2016 57,779,233.91
243 Nov-2016 57,522,257.95
244 Dec-2016 57,262,795.75
245 Jan-2017 57,000,823.26
246 Feb-2017 56,736,316.18
247 Mar-2017 56,469,249.99
248 Apr-2017 56,199,599.94
249 May-2017 55,927,341.02
250 Jun-2017 55,652,448.00
251 Jul-2017 55,374,895.39
Page 6
<PAGE>
ALLIANCE 1996-3 07-Oct-96
04:05:00 PM
Principal Prepayment Table
Class 1A
Principal
Balance
252 Aug-2017 55,094,657.46
253 Sep-2017 54,811,708.22
254 Oct-2017 54,526,021.46
255 Nov-2017 54,237,570.67
256 Dec-2017 53,946,329.12
257 Jan-2018 53,652,269.81
258 Feb-2018 53,355,365.47
259 Mar-2018 53,055,588.59
260 Apr-2018 52,752,911.36
261 May-2018 52,447,305.74
262 Jun-2018 52,138,743.37
263 Jul-2018 51,827,195.67
264 Aug-2018 51,512,633.74
265 Sep-2018 51,195,028.43
266 Oct-2018 50,874,350.29
267 Nov-2018 50,550,569.58
268 Dec-2018 50,223,656.30
269 Jan-2019 49,893,580.13
270 Feb-2019 49,560,310.47
271 Mar-2019 49,223,816.43
272 Apr-2019 48,884,066.81
273 May-2019 48,541,030.11
274 Jun-2019 48,194,674.53
275 Jul-2019 47,844,967.96
276 Aug-2019 47,491,877.98
277 Sep-2019 47,135,371.85
278 Oct-2019 46,775,416.53
279 Nov-2019 46,411,978.64
280 Dec-2019 46,045,024.49
281 Jan-2020 45,674,520.05
282 Feb-2020 45,300,430.99
283 Mar-2020 44,922,722.62
284 Apr-2020 44,541,359.91
285 May-2020 44,156,307.52
286 Jun-2020 43,767,529.75
287 Jul-2020 43,374,990.56
288 Aug-2020 42,978,653.55
289 Sep-2020 42,578,481.98
290 Oct-2020 42,174,438.74
291 Nov-2020 41,766,486.39
292 Dec-2020 41,354,587.10
293 Jan-2021 40,938,702.69
Page 7
<PAGE>
ALLIANCE 1996-3 07-Oct-96
04:05:00 PM
Principal Prepayment Table
Class 1A
Principal
Balance
294 Feb-2021 40,518,794.59
295 Mar-2021 40,094,823.89
296 Apr-2021 39,666,751.26
297 May-2021 39,234,537.03
298 Jun-2021 38,798,141.14
299 Jul-2021 38,357,523.11
300 Aug-2021 37,912,642.10
301 Sep-2021 37,463,456.86
302 Oct-2021 37,009,925.76
303 Nov-2021 36,552,006.75
304 Dec-2021 36,089,657.37
305 Jan-2022 35,622,834.76
306 Feb-2022 35,151,495.64
307 Mar-2022 34,675,596.32
308 Apr-2022 34,195,092.67
309 May-2022 33,709,940.14
310 Jun-2022 33,220,093.77
311 Jul-2022 32,725,508.13
312 Aug-2022 32,226,137.38
313 Sep-2022 31,721,935.21
314 Oct-2022 31,212,854.89
315 Nov-2022 30,698,849.21
316 Dec-2022 30,179,870.54
317 Jan-2023 29,655,870.74
318 Feb-2023 29,126,801.24
319 Mar-2023 28,592,613.00
320 Apr-2023 28,053,256.48
321 May-2023 27,508,681.70
322 Jun-2023 26,958,838.15
323 Jul-2023 26,403,674.86
324 Aug-2023 25,843,140.37
325 Sep-2023 25,277,182.71
326 Oct-2023 24,705,749.40
327 Nov-2023 24,128,787.48
328 Dec-2023 23,546,243.46
329 Jan-2024 22,958,063.32
330 Feb-2024 22,364,192.54
331 Mar-2024 21,764,576.05
332 Apr-2024 21,159,158.28
333 May-2024 20,547,883.09
334 Jun-2024 19,930,693.82
335 Jul-2024 19,307,533.23
Page 8
<PAGE>
ALLIANCE 1996-3 07-Oct-96
04:05:00 PM
Principal Prepayment Table
Class 1A
Principal
Balance
336 Aug-2024 18,678,343.57
337 Sep-2024 18,043,066.50
338 Oct-2024 17,401,643.13
339 Nov-2024 16,754,013.98
340 Dec-2024 16,100,119.02
341 Jan-2025 15,439,897.62
342 Feb-2025 14,773,288.59
343 Mar-2025 14,100,230.11
344 Apr-2025 13,420,659.79
345 May-2025 12,734,514.63
346 Jun-2025 12,041,731.01
347 Jul-2025 11,342,244.72
348 Aug-2025 10,635,990.89
349 Sep-2025 9,922,904.06
350 Oct-2025 9,202,918.11
351 Nov-2025 8,475,966.29
352 Dec-2025 7,741,981.22
353 Jan-2026 7,000,894.85
354 Feb-2026 6,252,638.46
355 Mar-2026 5,497,142.69
356 Apr-2026 4,734,337.50
357 May-2026 3,964,152.17
358 Jun-2026 3,186,515.30
359 Jul-2026 2,401,354.79
360 Aug-2026 1,608,597.85
361 Sep-2026 808,170.99
362 Oct-2026 0.00
Page 9
<PAGE>
ALLIANCE 1996-3 07-Oct-96
04:05:00 PM
Principal Prepayment Table
Class 2A
Principal
Balance
90,000,000.00
1 Sep-96 90,000,000.00
2 Oct-96 90,000,000.00
3 Nov-96 90,000,000.00
4 Dec-96 90,000,000.00
5 Jan-97 90,000,000.00
6 Feb-97 90,000,000.00
7 Mar-97 90,000,000.00
8 Apr-97 90,000,000.00
9 May-97 90,000,000.00
10 Jun-97 90,000,000.00
11 Jul-97 90,000,000.00
12 Aug-97 90,000,000.00
13 Sep-97 90,000,000.00
14 Oct-97 90,000,000.00
15 Nov-97 90,000,000.00
16 Dec-97 90,000,000.00
17 Jan-98 90,000,000.00
18 Feb-98 90,000,000.00
19 Mar-98 90,000,000.00
20 Apr-98 90,000,000.00
21 May-98 90,000,000.00
22 Jun-98 90,000,000.00
23 Jul-98 90,000,000.00
24 Aug-98 90,000,000.00
25 Sep-98 90,000,000.00
26 Oct-98 90,000,000.00
27 Nov-98 90,000,000.00
28 Dec-98 90,000,000.00
29 Jan-99 90,000,000.00
30 Feb-99 90,000,000.00
31 Mar-99 90,000,000.00
32 Apr-99 90,000,000.00
33 May-99 90,000,000.00
34 Jun-99 90,000,000.00
35 Jul-99 90,000,000.00
36 Aug-99 90,000,000.00
37 Sep-99 90,000,000.00
38 Oct-99 90,000,000.00
39 Nov-99 90,000,000.00
40 Dec-99 90,000,000.00
41 Jan-2000 90,000,000.00
Page 1
<PAGE>
ALLIANCE 1996-3 07-Oct-96
04:05:00 PM
Principal Prepayment Table
Class 2A
Principal
Balance
42 Feb-2000 90,000,000.00
43 Mar-2000 90,000,000.00
44 Apr-2000 90,000,000.00
45 May-2000 90,000,000.00
46 Jun-2000 90,000,000.00
47 Jul-2000 90,000,000.00
48 Aug-2000 90,000,000.00
49 Sep-2000 90,000,000.00
50 Oct-2000 90,000,000.00
51 Nov-2000 90,000,000.00
52 Dec-2000 90,000,000.00
53 Jan-2001 90,000,000.00
54 Feb-2001 90,000,000.00
55 Mar-2001 90,000,000.00
56 Apr-2001 90,000,000.00
57 May-2001 90,000,000.00
58 Jun-2001 90,000,000.00
59 Jul-2001 90,000,000.00
60 Aug-2001 90,000,000.00
61 Sep-2001 86,900,095.73
62 Oct-2001 86,835,080.06
63 Nov-2001 86,769,523.14
64 Dec-2001 86,703,420.45
65 Jan-2002 86,636,767.46
66 Feb-2002 86,569,559.58
67 Mar-2002 86,501,792.19
68 Apr-2002 86,433,460.64
69 May-2002 86,364,560.24
70 Jun-2002 86,295,086.23
71 Jul-2002 86,225,033.86
72 Aug-2002 86,154,398.30
73 Sep-2002 86,083,174.69
74 Oct-2002 86,011,358.15
75 Nov-2002 85,938,943.74
76 Dec-2002 85,865,926.48
77 Jan-2003 85,792,301.35
78 Feb-2003 85,718,063.29
79 Mar-2003 85,643,207.20
80 Apr-2003 85,567,727.93
81 May-2003 85,491,620.30
82 Jun-2003 85,414,879.07
83 Jul-2003 85,337,498.97
Page 2
<PAGE>
ALLIANCE 1996-3 07-Oct-96
04:05:00 PM
Principal Prepayment Table
Class 2A
Principal
Balance
84 Aug-2003 85,259,474.68
85 Sep-2003 85,180,800.84
86 Oct-2003 85,101,472.04
87 Nov-2003 85,021,482.83
88 Dec-2003 84,940,827.70
89 Jan-2004 84,859,501.13
90 Feb-2004 84,777,497.51
91 Mar-2004 84,694,811.20
92 Apr-2004 84,611,436.54
93 May-2004 84,527,367.78
94 Jun-2004 84,442,599.15
95 Jul-2004 84,357,124.82
96 Aug-2004 84,270,938.92
97 Sep-2004 84,184,035.51
98 Oct-2004 84,096,408.64
99 Nov-2004 84,008,052.28
100 Dec-2004 83,918,960.34
101 Jan-2005 83,829,126.72
102 Feb-2005 83,738,545.23
103 Mar-2005 83,647,209.65
104 Apr-2005 83,555,113.70
105 May-2005 83,462,251.06
106 Jun-2005 83,368,615.33
107 Jul-2005 83,274,200.09
108 Aug-2005 83,178,998.83
109 Sep-2005 83,083,005.03
110 Oct-2005 82,986,212.08
111 Nov-2005 82,888,613.33
112 Dec-2005 82,790,202.06
113 Jan-2006 82,690,971.53
114 Feb-2006 82,590,914.90
115 Mar-2006 82,490,025.30
116 Apr-2006 82,388,295.79
117 May-2006 82,285,719.38
118 Jun-2006 82,182,289.03
119 Jul-2006 82,077,997.62
120 Aug-2006 81,972,837.98
121 Sep-2006 81,866,802.89
122 Oct-2006 81,759,885.05
123 Nov-2006 81,652,077.13
124 Dec-2006 81,543,371.70
125 Jan-2007 81,433,761.31
Page 3
<PAGE>
ALLIANCE 1996-3 07-Oct-96
04:05:00 PM
Principal Prepayment Table
Class 2A
Principal
Balance
126 Feb-2007 81,323,238.40
127 Mar-2007 81,211,795.39
128 Apr-2007 81,099,424.62
129 May-2007 80,986,118.36
130 Jun-2007 80,871,868.83
131 Jul-2007 80,756,668.17
132 Aug-2007 80,640,508.46
133 Sep-2007 80,523,381.73
134 Oct-2007 80,405,279.91
135 Nov-2007 80,286,194.90
136 Dec-2007 80,166,118.51
137 Jan-2008 80,045,042.47
138 Feb-2008 79,922,958.49
139 Mar-2008 79,799,858.15
140 Apr-2008 79,675,733.00
141 May-2008 79,550,574.51
142 Jun-2008 79,424,374.07
143 Jul-2008 79,297,123.02
144 Aug-2008 79,168,812.60
145 Sep-2008 79,039,434.00
146 Oct-2008 78,908,978.32
147 Nov-2008 78,777,436.59
148 Dec-2008 78,644,799.78
149 Jan-2009 78,511,058.77
150 Feb-2009 78,376,204.37
151 Mar-2009 78,240,227.30
152 Apr-2009 78,103,118.23
153 May-2009 77,964,867.72
154 Jun-2009 77,825,466.28
155 Jul-2009 77,684,904.31
156 Aug-2009 77,543,172.17
157 Sep-2009 77,400,260.11
158 Oct-2009 77,256,158.31
159 Nov-2009 77,110,856.86
160 Dec-2009 76,964,345.78
161 Jan-2010 76,816,614.99
162 Feb-2010 76,667,654.34
163 Mar-2010 76,517,453.59
164 Apr-2010 76,366,002.43
165 May-2010 76,213,290.43
166 Jun-2010 76,059,307.10
167 Jul-2010 75,904,041.87
Page 4
<PAGE>
ALLIANCE 1996-3 07-Oct-96
04:05:00 PM
Principal Prepayment Table
Class 2A
Principal
Balance
168 Aug-2010 75,747,484.05
169 Sep-2010 75,589,622.89
170 Oct-2010 75,430,447.53
171 Nov-2010 75,269,947.04
172 Dec-2010 75,108,110.38
173 Jan-2011 74,944,926.43
174 Feb-2011 74,780,383.97
175 Mar-2011 74,614,471.70
176 Apr-2011 74,447,178.21
177 May-2011 74,278,492.00
178 Jun-2011 74,108,401.48
179 Jul-2011 73,936,894.95
180 Aug-2011 73,763,960.64
181 Sep-2011 73,589,586.64
182 Oct-2011 73,413,760.98
183 Nov-2011 73,236,471.57
184 Dec-2011 73,057,706.23
185 Jan-2012 72,877,452.67
186 Feb-2012 72,695,698.49
187 Mar-2012 72,512,431.21
188 Apr-2012 72,327,638.24
189 May-2012 72,141,306.86
190 Jun-2012 71,953,424.27
191 Jul-2012 71,763,977.56
192 Aug-2012 71,572,953.70
193 Sep-2012 71,380,339.57
194 Oct-2012 71,186,121.93
195 Nov-2012 70,990,287.43
196 Dec-2012 70,792,822.60
197 Jan-2013 70,593,713.88
198 Feb-2013 70,392,947.58
199 Mar-2013 70,190,509.91
200 Apr-2013 69,986,386.93
201 May-2013 69,780,564.64
202 Jun-2013 69,573,028.87
203 Jul-2013 69,363,765.37
204 Aug-2013 69,152,759.74
205 Sep-2013 68,939,997.50
206 Oct-2013 68,725,464.01
207 Nov-2013 68,509,144.53
208 Dec-2013 68,291,024.19
209 Jan-2014 68,071,088.00
Page 5
<PAGE>
ALLIANCE 1996-3 07-Oct-96
04:05:00 PM
Principal Prepayment Table
Class 2A
Principal
Balance
210 Feb-2014 67,849,320.84
211 Mar-2014 67,625,707.47
212 Apr-2014 67,400,232.52
213 May-2014 67,172,880.48
214 Jun-2014 66,943,635.74
215 Jul-2014 66,712,482.54
216 Aug-2014 66,479,404.99
217 Sep-2014 66,244,387.07
218 Oct-2014 66,007,412.63
219 Nov-2014 65,768,465.37
220 Dec-2014 65,527,528.87
221 Jan-2015 65,284,586.58
222 Feb-2015 65,039,621.80
223 Mar-2015 64,792,617.68
224 Apr-2015 64,543,557.26
225 May-2015 64,292,423.40
226 Jun-2015 64,039,198.86
227 Jul-2015 63,783,866.22
228 Aug-2015 63,526,407.94
229 Sep-2015 63,266,806.32
230 Oct-2015 63,005,043.51
231 Nov-2015 62,741,101.53
232 Dec-2015 62,474,962.24
233 Jan-2016 62,206,607.33
234 Feb-2016 61,936,018.37
235 Mar-2016 61,663,176.75
236 Apr-2016 61,388,063.73
237 May-2016 61,110,660.39
238 Jun-2016 60,830,947.67
239 Jul-2016 60,548,906.34
240 Aug-2016 60,264,517.02
241 Sep-2016 59,977,760.16
242 Oct-2016 59,688,616.04
243 Nov-2016 59,397,064.80
244 Dec-2016 59,103,086.40
245 Jan-2017 58,806,660.63
246 Feb-2017 58,507,767.11
247 Mar-2017 58,206,385.30
248 Apr-2017 57,902,494.49
249 May-2017 57,596,073.79
250 Jun-2017 57,287,102.14
251 Jul-2017 56,975,558.29
Page 6
<PAGE>
ALLIANCE 1996-3 07-Oct-96
04:05:00 PM
Principal Prepayment Table
Class 2A
Principal
Balance
252 Aug-2017 56,661,420.85
253 Sep-2017 56,344,668.21
254 Oct-2017 56,025,278.60
255 Nov-2017 55,703,230.08
256 Dec-2017 55,378,500.50
257 Jan-2018 55,051,067.55
258 Feb-2018 54,720,908.72
259 Mar-2018 54,388,001.32
260 Apr-2018 54,052,322.46
261 May-2018 53,713,849.08
262 Jun-2018 53,372,557.90
263 Jul-2018 53,028,425.48
264 Aug-2018 52,681,428.15
265 Sep-2018 52,331,542.07
266 Oct-2018 51,978,743.19
267 Nov-2018 51,623,007.26
268 Dec-2018 51,264,309.83
269 Jan-2019 50,902,626.24
270 Feb-2019 50,537,931.64
271 Mar-2019 50,170,200.95
272 Apr-2019 49,799,408.90
273 May-2019 49,425,530.02
274 Jun-2019 49,048,538.59
275 Jul-2019 48,668,408.70
276 Aug-2019 48,285,114.24
277 Sep-2019 47,898,628.84
278 Oct-2019 47,508,925.96
279 Nov-2019 47,115,978.80
280 Dec-2019 46,719,760.36
281 Jan-2020 46,320,243.39
282 Feb-2020 45,917,400.45
283 Mar-2020 45,511,203.84
284 Apr-2020 45,101,625.65
285 May-2020 44,688,637.71
286 Jun-2020 44,272,211.65
287 Jul-2020 43,852,318.85
288 Aug-2020 43,428,930.43
289 Sep-2020 43,002,017.31
290 Oct-2020 42,571,550.14
291 Nov-2020 42,137,499.32
292 Dec-2020 41,699,835.04
293 Jan-2021 41,258,527.20
Page 7
<PAGE>
ALLIANCE 1996-3 07-Oct-96
04:05:00 PM
Principal Prepayment Table
Class 2A
Principal
Balance
294 Feb-2021 40,813,545.47
295 Mar-2021 40,364,859.27
296 Apr-2021 39,912,437.75
297 May-2021 39,456,249.83
298 Jun-2021 38,996,264.14
299 Jul-2021 38,532,449.07
300 Aug-2021 38,064,772.74
301 Sep-2021 37,593,203.01
302 Oct-2021 37,117,707.45
303 Nov-2021 36,638,253.40
304 Dec-2021 36,154,807.89
305 Jan-2022 35,667,337.70
306 Feb-2022 35,175,809.32
307 Mar-2022 34,680,188.96
308 Apr-2022 34,180,442.57
309 May-2022 33,676,535.78
310 Jun-2022 33,168,433.98
311 Jul-2022 32,656,102.22
312 Aug-2022 32,139,505.30
313 Sep-2022 31,618,607.72
314 Oct-2022 31,093,373.66
315 Nov-2022 30,563,767.03
316 Dec-2022 30,029,751.42
317 Jan-2023 29,491,290.13
318 Feb-2023 28,948,346.15
319 Mar-2023 28,400,882.17
320 Apr-2023 27,848,860.54
321 May-2023 27,292,243.34
322 Jun-2023 26,730,992.30
323 Jul-2023 26,165,068.84
324 Aug-2023 25,594,434.07
325 Sep-2023 25,019,048.77
326 Oct-2023 24,438,873.38
327 Nov-2023 23,853,868.03
328 Dec-2023 23,263,992.52
329 Jan-2024 22,669,206.28
330 Feb-2024 22,069,468.46
331 Mar-2024 21,464,737.82
332 Apr-2024 20,854,972.79
333 May-2024 20,240,131.47
334 Jun-2024 19,620,171.60
335 Jul-2024 18,995,050.56
Page 8
<PAGE>
ALLIANCE 1996-3 07-Oct-96
04:05:00 PM
Principal Prepayment Table
Class 2A
Principal
Balance
336 Aug-2024 18,364,725.39
337 Sep-2024 17,729,152.76
338 Oct-2024 17,088,288.99
339 Nov-2024 16,442,090.02
340 Dec-2024 15,790,511.45
341 Jan-2025 15,133,508.49
342 Feb-2025 14,471,035.98
343 Mar-2025 13,803,048.39
344 Apr-2025 13,129,499.80
345 May-2025 12,450,343.92
346 Jun-2025 11,765,534.06
347 Jul-2025 11,075,023.17
348 Aug-2025 10,378,763.77
349 Sep-2025 9,676,708.01
350 Oct-2025 8,968,807.63
351 Nov-2025 8,255,013.99
352 Dec-2025 7,535,278.01
353 Jan-2026 6,809,550.23
354 Feb-2026 6,077,780.77
355 Mar-2026 5,339,919.33
356 Apr-2026 4,595,915.19
357 May-2026 3,845,717.22
358 Jun-2026 3,089,273.84
359 Jul-2026 2,326,533.08
360 Aug-2026 1,557,442.50
361 Sep-2026 781,949.24
362 Oct-2026 0.00
Page 9
<PAGE>
EXHIBIT Q
FORM OF SERVICER'S MONTHLY REMITTANCE REPORT
TO TRUSTEE
<PAGE>
ALLIANCE FUNDING COMPANY
by LEE SERVICING COMPANY, A division of SUPERIOR BANK FSB,
Designated Servicer
SERVICERS CERTIFICATE
______ SUB POOL _
In accordance with section 6.08 of the Pooling and Servicing Agreement
dated as of ______________ and the Insurance Agreement dated as of
______________, Lee Servicing Company reports the following
information pertaining to Series ______ Sub Pool _ for _________,
___, the Remittance date.
Period Ended: _________, 19__
- --------------------------------------------------------------------------------
Total Actual Principal Collections 0.00
Total Actual Interest Collections 0.00
Additional Proceeds 0.00
----------
Total Collections
Monthly Advance
Delinquent Interest 0.00
Compensating Interest 0.00
Amounts Held for Future Distributions 0.00
Supplemental Interest 0.00
----------
Available Remittance Amount: 0.00
Less: Service Fees 0.00
Expense Account Deposit 0.00
Deposits/Withdrawals for Cross Collaterization 0.00
----------
Adjusted Remittance Amount: 0.00
Remaining Amount Available:
Adjusted Remittance Amount 0.00
- --------------------------------------------------------------------------------
<PAGE>
ALLIANCE FUNDING COMPANY
by LEE SERVICING COMPANY, A division of SUPERIOR BANK FSB,
Designated Servicer
SERVICERS CERTIFICATE
______ SUB POOL _
In accordance with section 6.08 of the Pooling and Servicing Agreement
dated as of ______________ and the Insurance Agreement dated as of
______________, Lee Servicing Company reports the following
information pertaining to Series ______ Sub Pool _ for _________,
___, the Remittance date.
Period Ended: _________, 19__
- --------------------------------------------------------------------------------
Insured Payments 0.00
Insurance Account Deposit @ 13bp the
ending Class A P-balance 0.00
Class Remittance Amounts 0.00
Non-Recoverable Advances not previously
reimbursed 0.00
----------
Total Remaining Amount Available: 0.00
==========
Amount of Reimbursements Pursuant to Sec. 5.04
Servicing Fee 0.00
Monthly Advances and Servicer Advances 0.00
Other Mortgage Payments 0.00
Interest Earned on P&I Deposits 0.00
Additional Servicing Compensation 0.00
- --------------------------------------------------------------------------------
<PAGE>
ALLIANCE FUNDING COMPANY
by LEE SERVICING COMPANY, A division of SUPERIOR BANK FSB,
Designated Servicer
SERVICERS CERTIFICATE
______ SUB POOL _
In accordance with section 6.08 of the Pooling and Servicing Agreement
dated as of ______________ and the Insurance Agreement dated as of
______________, Lee Servicing Company reports the following
information pertaining to Series ______ Sub Pool _ for _________,
___, the Remittance date.
Period Ended: _________, 19__
- --------------------------------------------------------------------------------
Total Class 2-A Class R
----- --------- -------
Number of Loans 0
Opening Loan balance 0.00 0.00
Additional principal reduction, LTD 0.00 0.00
Realized losses, LTD 0.00 0.00
Carryforward amount 0.00 0.00
------------------------
Total Class Principal Balance 0.00 0.00
Pool factor per loan balance #DIV/01 #DIV/01
Factor per class balance 0.0000000% 0.0000000%
Class R Remittance 0.00 0.00
Additional Principal due Class A 0.00 0.00
Deposits/Withdrawals for
Cross Collaterization 0.00 0.00
Interest remittance 0.00 0.00
Principal reductions:
Prepayments - number 0 0
Prepayments - dollar 0.00 0.00
Net Liquidation Proceeds 0.00 0.00
- --------------------------------------------------------------------------------
<PAGE>
ALLIANCE FUNDING COMPANY
by LEE SERVICING COMPANY, A division of SUPERIOR BANK FSB,
Designated Servicer
SERVICERS CERTIFICATE
______ SUB POOL _
In accordance with section 6.08 of the Pooling and Servicing Agreement
dated as of ______________ and the Insurance Agreement dated as of
______________, Lee Servicing Company reports the following
information pertaining to Series ______ Sub Pool _ for _________,
___, the Remittance date.
Period Ended: _________, 19__
- --------------------------------------------------------------------------------
Curtailments 0.00 0.00
Normal and excess payments 0.00 0.00
--------------------------
Total principal Remittance 0.00 0.00
Additional principal reduction 0.00 0.00
--------------------------
Total remittance 0.00 0.00
==========================
Carryforward Amount 0.00
Current Month Realized Loss - number 0
Current Month Realized Loss - dollar 0.00
Number of Loans # 0
Class principal balance - end of month
Loan Balance 0.00 0.00
Additional principal reduction, LTD 0.00 0.00
Realized losses, LTD 0.00 0.00
Carryforward amount 0.00 0.00
--------------------------
Total Class A principal 0.00 0.00
Class factor per loan balance #DIV/01 #DIV/01
Class factor per class balance #DIV/01 #DIV/01
- --------------------------------------------------------------------------------
<PAGE>
ALLIANCE FUNDING COMPANY
by LEE SERVICING COMPANY, A division of SUPERIOR BANK FSB,
Designated Servicer
SERVICERS CERTIFICATE
______ SUB POOL _
In accordance with section 6.08 of the Pooling and Servicing Agreement
dated as of ______________ and the Insurance Agreement dated as of
______________, Lee Servicing Company reports the following
information pertaining to Series ______ Sub Pool _ for _________,
___, the Remittance date.
Period Ended: _________, 19__
- --------------------------------------------------------------------------------
Total Class A1
----- --------
Weighted Note Rate: 0.00000%
Weighted Note Rate Next Remittance: 0.00000%
Pass-Through Rate: 0.00000% 0.00000%
Related Remittance Period 0-JAN-00 thru 0-JAN-00
Days in Related Period: 0
Weighted Average Remaining Term 0.00
Original Pool - Principal Balance 0.00 0.00
Original Pool - Pre-Funding Account 0.00 0.00
Original Pool - Additional Principal
Reduction 0.00 0.00
-------------------------
Original Pool Total 0.00 0.00
Original Pool - Number of Loans 0
================================================================================
Class A OverCollaterization Reconciliation
Beginning of Month Current Month End of Month
------------------ ------------- ------------
Additional Principal
Reduction, LTD 0.00 0.00 0.00
- --------------------------------------------------------------------------------
<PAGE>
ALLIANCE FUNDING COMPANY
by LEE SERVICING COMPANY, A division of SUPERIOR BANK FSB,
Designated Servicer
SERVICERS CERTIFICATE
______ SUB POOL _
In accordance with section 6.08 of the Pooling and Servicing Agreement
dated as of ______________ and the Insurance Agreement dated as of
______________, Lee Servicing Company reports the following
information pertaining to Series ______ Sub Pool _ for _________,
___, the Remittance date.
Period Ended: _________, 19__
- --------------------------------------------------------------------------------
Less: Realized Losses, LTD 0.00 0.00 0.00
Deposits/Withdrawals from
Cross Collaterization 0.00 0.00 0.00
--------
-----------------------------------
Overcollalization of Principal 0.00 0.00 0.00
--------
===================================
Base Overcollaterization Requirement 0.00
Current Month Subordinated Amount
Beginning Current End of the
of Month Month Month
-----------------------------------
Original Subordinated Amount 0.00 N/A 0.00
Less: Cumulative Realized Losses 0.00 0.00 0.00
Plus: Cumulative Additional Proceeds 0.00 0.00 0.00
-----------------------------------
Current Subordinated Amount 0.00 0.00
===================================
Nonrecoverable Advance Reconciliation
Beginning of Month 0.00
Current Month Unpaid Nonrecoverable Advance 0.00
Less: Current Month Reimbursement 0.00
--------
End of Month 0.00
--------
- --------------------------------------------------------------------------------
<PAGE>
ALLIANCE FUNDING COMPANY
by LEE SERVICING COMPANY, A division of SUPERIOR BANK FSB,
Designated Servicer
SERVICERS CERTIFICATE
______ SUB POOL _
In accordance with section 6.08 of the Pooling and Servicing Agreement
dated as of ______________ and the Insurance Agreement dated as of
______________, Lee Servicing Company reports the following
information pertaining to Series ______ Sub Pool _ for _________,
___, the Remittance date.
Period Ended: _________, 19__
- --------------------------------------------------------------------------------
Class A1
------------------------
Total Class Principal - Original Pool $0.00 $0.00
Interest Remittance Amount 0.00 0.00
Interest Rate Factor / 1000 0.000000 0.000000
Total Principal Collections 0.00 0.00
Additional Principal Reduction 0.00 0.00
------------------------
Principal Remittance Amount 0.00 0.00
Principal Payment Factor/1000 0.000000 0.000000
Principal Factor 0.000000 0.000000
Prior Month Principal Factors 0 0
- --------------------------------------------------------------------------------
<PAGE>
EXHIBIT R
PROPOSED SUBSEQUENT MORTGAGE LOAN SCHEDULE
<PAGE>
ALLIANCE FUNDING COMPANY
A division of Superior Bank FSB
Loans Funded and Available for Sale to 1996-3 as of 9/20/96
Current Note
Account Name State Principal Rate Margin
- --------------------------------------------------------------------------------
10216113824 BAER JAY P MD 177,828.76 9.625 6.000
10216114554 TAYLOR THOMAS J NJ 257,434.57 11.500 8.500
10216114990 JENSEN LAMAR G UT 97,604.32 10.125 6.500
10216115285 SWAYBILL MONICA NY 107,148.64 9.625 6.250
10216115716 STIDHAM GREGORY SCOTT OH 37,256.92 8.750 5.000
10216116171 SANCHEZ JOSE ANTHONY JR NY 153,000.00 9.625 5.750
10216117920 GARRETT KAREN S MI 56,500.00 11.500 6.750
10216119657 VOLCHIK ZEEV NJ 207,000.00 9.625 6.000
10216120159 TORRES JOSE MIQUEL NJ 130,000.00 11.500 7.750
10216120393 DEWEAVER LINDA OH 46,983.46 11.375 7.500
10216120465 JULIANO THERESA NJ 149,000.00 9.250 5.500
10216120714 FRICANO MICHAEL P IL 122,500.00 11.125 7.500
10216120789 STOFFEL RANDELL J WI 108,800.00 11.000 7.000
10216121337 BROWN RICHARD NY 160,000.00 10.625 6.750
10216121359 BERRY ANNIE L MD 85,500.00 11.125 8.250
10216121461 GANZ DAVID A NJ 84,000.00 11.375 8.500
10216121720 BENHAM JONATHAN W IN 120,266.51 9.625 5.750
10216122238 ZIEGLER MELVIN L IL 142,894.41 9.625 6.250
10216122354 ESPOSITO SALVATORE NY 112,200.00 9.875 7.250
10216122424 BRUCE RALPH NY 120,000.00 9.125 6.250
10216122693 MINNICK JESSIE L KY 80,649.84 8.375 4.500
10216122836 BENNETT SHARON IL 91,700.00 7.875 4.000
10216122842 SHKRELI MARIE MI 243,000.00 9.750 5.750
10216122993 BOUCHER JAMES M MI 72,000.00 8.875 5.000
10216122995 AL-ABDULRASUL MOHAMMAD MI 89,913.43 9.625 5.750
10216122996 BURKE WILLIAM R MI 114,000.00 8.875 5.000
10216123112 MCDEVITT JOHN A NJ 70,000.00 8.875 6.000
10216123428 TORRES SANDRA NY 148,000.00 9.625 5.750
10216123485 DAWES WILLIAM NY 135,955.33 11.375 7.250
10216123506 CORDERA SANDRA L CT 102,000.00 10.875 6.750
10216123555 AL-AMIDI AHMED MI 41,400.00 9.875 5.750
10216123679 JARAMILLO JUAN NY 147,000.00 10.875 7.750
10216123736 MARTIN LARRY W IN 110,381.35 8.375 4.500
10216123779 WATSON CALVIN NY 152,000.00 10.125 6.250
10216123881 JUSTICE PAUL MI 37,000.00 9.875 6.000
10216124089 LEITHEISER CHARLES F WI 81,900.00 9.625 5.750
10216124146 LEVINE ARTHUR A NJ 108,500.00 8.625 5.500
10216124276 MAXWELL CHARLES E MI 58,473.43 9.875 6.000
10216124442 PRITCHETT JENNIFER IL 100,000.00 10.250 6.000
10216124535 PROCHLIAK PETRO NJ 63,000.00 10.625 6.750
10216124662 RAGLAND RAFUR C IL 46,200.00 10.750 6.250
10216124675 MOORE ROGER D MI 55,966.08 8.500 4.500
10216124948 PETTINELLA ANN M NY 97,100.00 10.125 6.250
10216125425 PASLEY KELITA NY 135,000.00 9.625 5.750
10216125516 AMOS-RICHBURG MICHELLE NY 150,300.00 9.875 5.750
10216125592 GRUBAUGH GEORGE A CO 99,750.00 9.625 6.000
10216125597 CARPENTER ROBERT E UT 90,000.00 10.375 6.750
10216125653 CURRAN THOMAS J NJ 169,400.00 7.375 3.750
10216125685 SIEGFRIED DANIEL C AZ 78,400.00 11.875 8.250
10216125697 FIUME ALFRED M NJ 170,910.00 9.625 6.750
10216125724 HALL CLYDE JR IL 60,700.00 9.625 6.000
10216125746 HAZELTON DANIEL L MI 32,000.00 11.375 7.500
10216125803 GIBSON VANESSA MI 115,500.00 9.125 5.500
10216125810 ODONNEL PATRICK C OH 57,750.00 10.875 7.250
10216125819 AVILES JUAN IL 246,500.00 10.875 7.000
10216125830 FADLALLAH HOUSSAM MI 72,859.13 8.875 5.000
10216125841 CREW WILLIAM W IN 56,800.00 11.375 7.500
10216125984 HARRIS JUDITH M NM 153,500.00 8.875 5.250
10216126063 WALKER PATRICIA GA 40,500.00 11.125 7.750
10216126104 PLEET LOUIS ABRAHAM MD 138,750.00 11.500 7.250
10216126119 GOEMBEL PATRICK NC 79,000.00 9.375 5.250
10216126148 SENIOR ORVILLE NY 194,400.00 10.625 6.750
10216126192 BARLOW RYAN TY AZ 44,625.00 10.375 6.500
<PAGE>
ALLIANCE FUNDING COMPANY
A division of Superior Bank FSB
Loans Funded and Available for Sale to 1996-3 as of 9/20/96
Current Note
Account Name State Principal Rate Margin
- --------------------------------------------------------------------------------
10216126213 HARRIS DONALD MI 53,200.00 9.875 6.000
10216126238 LIGHTNER MARY CATHERINE KY 72,076.32 11.375 7.500
10216126317 MILLS PRISCILLA NY 216,000.00 9.625 6.750
10216126347 MOHAMAD KHALED NJ 71,250.00 9.625 5.750
10216126394 BUSS TINA M MI 35,000.00 8.875 5.000
10216126396 SADEJ STANLEY IL 154,000.00 11.750 6.750
10216126397 WARD SCOTT J IL 75,000.00 10.000 6.000
10216126402 HOOVER DANIEL L MI 56,000.00 9.125 5.000
10216126436 UDY VAL R UT 60,000.00 8.625 5.000
10216126504 DECARLO FRANK NJ 325,000.00 12.125 8.500
10216126508 MCCALL CHARLES CT 84,500.00 12.375 7.750
10216126524 SOMMERS MARK ALLAN OH 104,000.00 9.875 6.000
10216126548 WINTERS WAYNE E IN 56,200.00 10.000 5.750
10216126599 ALLOWAY DONALD A OR 146,000.00 11.375 7.750
10216126615 GONZALEZ CRUZ PA 172,350.00 9.875 5.750
10216126635 UPSHAW GERALD DWAYNE CA 231,300.00 8.875 5.000
10216126675 SMITH MARGARET OH 38,400.00 11.125 6.750
10216126697 DUNIGAN ERIC V MI 33,000.00 9.125 5.250
10216126700 AL-GASID MOHAYMAN MI 82,800.00 9.625 5.750
10216126701 ASKAR ANGELO MI 52,000.00 8.625 4.500
10216126702 COSTA MIKE MI 98,400.00 10.375 6.250
10216126797 SIMPSON IAN G NY 157,250.00 11.875 8.000
10216126877 HERMIZ MAJID Ml 178,200.00 9.625 5.750
10216126879 RASH JOEL MI 14,400.00 11.250 7.250
10216126974 DEUGENIO ENRICO AZ 182,600.00 10.875 7.000
10216126988 JAMES CATHERINE IL 59,200.00 9.625 6.000
10216126998 ALMAYA MOHAMED A MI 55,300.00 9.625 5.750
10216127012 WILLOH JOHN ROBERT OH 29,979.36 7.875 3.750
10216127086 BURT DANIEL L OR 80,750.00 11.375 7.500
10216127172 AL-SHALUSHI AZARA MI 53,100.00 8.375 4.500
10216127173 AL-JEBORI QASIM MI 41,400.00 9.625 5.750
10216127181 HANES JOSEPH C OH 44,100.00 9.625 5.750
10216127291 PAOLELLA GIOVANNI IL 131,200.00 9.375 5.750
10216127296 BISHOP LARRY A MI 83,300.00 8.375 4.500
10216127317 FRANCKOWIAK WAYNE A IL 261,000.00 9.000 5.000
10216127319 ELMASRI SIREEN MI 110,500.00 10.125 6.250
10216127359 MOLDOFSKY LANNY IL 241,500.00 11.375 6.750
10216127375 PEARSON BLAINE UT 135,000.00 9.125 5.500
10216127380 ROBERTO WAYNE NJ 80,000.00 12.375 8.500
10216127414 CARTER LLOYD WILLIS AZ 72,000.00 8.875 5.250
10216127446 SEXTON MARK S CO 199,500.00 8.625 5.000
10216127534 COSTANTINI DONNA CT 157,500.00 10.625 6.750
10216127584 MONTANA MARK J IL 420,000.00 9.625 6.000
10216127596 MURZANSKI CHRIS A IL 162,000.00 9.875 5.750
10216127600 DEMBECK DAVID M Ml 180,000.00 7.625 3.750
10216127604 NAWAZ RAB MI 50,000.00 11.250 7.000
10216127614 SMITH MICHAEL A MI 83,300.00 8.875 5.000
10216127628 COLLINS PATRICIA L IN 68,000.00 11.500 7.500
10216127755 HAYDOUS ALI H MI 90,400.00 9.125 5.000
10216127757 HARTNER GARY F MI 180,000.00 9.625 5.750
10216127758 POWELL WANDALYN V MI 132,000.00 11.500 7.250
10216127780 BROWN RANDY D UT 76,000.00 11.875 8.250
10216127814 JOHNSON KYLE ROBERT UT 91,800.00 10.125 6.500
10216127873 WYCOFF GENE K CO 164,000.00 10.625 7.000
10216127905 PRYOR DAVID B MI 365,000.00 7.625 3.750
10216127910 MELCHER BARRY L KY 46,700.00 10.125 6.250
10216127994 SHADDIX BILL J AZ 140,000.00 8.875 5.250
10216128004 HARNISHER DIANE NY 52,500.00 10.375 6.750
10216128058 NELSON LEONARD E IL 75,000.00 11.125 6.750
10216128231 HOWARD DOROTHY IL 70,000.00 9.375 5.750
10216128236 HEATON TIMOTHY J IL 105,000.00 9.625 6.000
10216128245 LIDDELL CHRISTOPHER W MI 191,200.00 7.875 3.750
10216128349 HILL KENNETH A NY 80,000.00 9.625 6.500
<PAGE>
ALLIANCE FUNDING COMPANY
A division of Superior Bank FSB
Loans Funded and Available for Sale to 1996-3 as of 9/20/96
Current Note
Account Name State Principal Rate Margin
- --------------------------------------------------------------------------------
10216128398 WONG CAROL M PA 25,500.00 10.625 6.750
10216128587 AL-YASIRY FADHIL MI 30,800.00 8.625 4.500
10216128588 ALBUJERAIW NAJEB MI 43,200.00 9.625 5.750
10216128591 KING DARLENE OH 66,000.00 7.625 3.750
10216128665 AKERS CHRISTOPHER F CA 147,600.00 8.875 5.000
10216128704 NICHOL MERLIN K UT 93,600.00 9.625 6.000
10216128709 CULP RICHARD WILLIAM WA 220,000.00 9.875 6.250
10216128915 TAYLOR JR PAUL D NV 135,000.00 8.625 5.750
10216128927 MORRIS CORINE IL 24,700.00 11.125 6.750
10216128935 MCNELLEY PATRICK L IL 328,000.00 10.750 7.500
10216128943 LITTLE PERRY NJ 76,800.00 11.750 8.500
10216129035 MARTINEZ JOSE P NJ 90,000.00 9.625 5.750
10216129074 BROKENBEK SARAH S PA 168,300.00 9.250 5.400
10216129186 CAULEY M CAD UT 138,250.00 9.125 5.500
10216129297 REED BRENDA K PA 73,200.00 11.250 7.250
10216129367 FLORES SHERRY L CO 60,000.00 8.875 5.250
10216129412 CRUM JENNIFER UT 126,750.00 9.375 5.750
10216129435 WOLSKI CONRAD A IL 208,000.00 11.250 7.250
10216129436 LEWIS MELONICE IL 103,100.00 9.625 6.000
10216129441 FLANAGAN MICHAEL J MN 103,000.00 10.125 6.250
10216129442 REDA HUSSEIN MI 67,100.00 8.375 4.500
10216129443 AL-ATABI DHAFER MI 78,300.00 9.625 5.750
10216129444 SOBH MOHAMAD MI 36,900.00 9.625 5.750
10216129453 REINHART WILLIAM MI 87,900.00 10.625 6.750
10216129546 EBERHARDT MICHAEL D CO 211,500.00 8.125 4.500
10216129556 COLLETTI JAMES IL 228,000.00 11.500 7.500
10216129626 REDFORD DIANE UNCHONG CO 152,000.00 8.875 5.250
10216129655 SMITH ROBERT M FL 61,600.00 11.500 7.500
10216129717 AL-ADHIMY QAIS MI 44,100.00 9.625 5.750
10216129811 DANIA RAFIU I IL 212,700.00 10.625 6.750
10216129821 KAWCZYNSKI JACEK A IL 189,000.00 10.000 6.000
10216129830 BARRETT JAMES K MN 157,426.52 9.750 5.750
10216129940 PENNY CHARMAINE HARRIET UT 69,200.00 10.875 7.250
10216129982 SOBH JALAL M MI 46,700.00 8.375 4.500
10216130016 HESS DAVID LYNN UT 75,650.00 9.875 6.250
10216130030 RODRIGUEZ ROD CA 157,500.00 9.375 5.750
10216130205 NASSEREDDINE MOHAMAD MI 96,300.00 9.625 5.750
10216130213 RICHARDS ALFRED D UT 67,900.00 8.875 5.250
10216130643 BRAGG MICHAEL ANTHONY MI 42,500.00 10.125 6.250
- ----------- ------------- ------ -----
Loans tagged for 1st Subsequent Transfer 18,663,933.40 9.913 6.140
10216101352 MCNULTY JAMES P NJ 105,903.68 9.000 5.250
10216107778 PERRY GLENN D OH 99,881.50 8.625 5.000
10216115465 SIMPSON DAVID J PA 161,500.00 9.125 5.500
10216117865 SHACK JIMMIE LEE JR MI 41,172.05 11.250 6.750
10216118765 REGIS JOSEPH T DE 85,965.74 9.375 5.750
10216119857 BRIGGS CHRISTOPHER A IL 54,189.04 8.625 4.750
10216120138 GOLD JEFFREY L MI 224,733.36 8.625 5.000
10216120271 SMITH GERALDINE OH 87,500.00 9.875 6.000
10216120657 HUNT ROBERT J JR IL 106,400.00 8.375 4.500
10216120736 HISLE DANA IL 35,700.00 11.500 6.750
10216121278 HACHEM MOHAMAD K MI 112,392.01 9.625 5.750
10216122236 MARUNGO BASELISA IL 126,000.00 9.625 6.250
10216124897 TAHZIB SHAMIM IL 249,000.00 9.625 5.500
10216125827 BAZZI MAHMOUD MI 51,300.00 9.625 5.750
10216126045 ALSHAWISH SAMUEL MI 80,961.20 9.625 5.750
10216126299 PETTIGREW DEWEY E UT 118,150.00 11.375 7.500
10216127002 SAGHIR FATEMA MI 81,000.00 9.625 5.750
10216127014 BRAUN JEAN M IN 60,300.00 8.375 4.500
10216127176 AL-GHAZAWY YOUSIF MI 39,600.00 9.875 5.750
10216127177 MAYER J CHRISTOPHER MI 80,900.00 9.875 5.750
10216127259 ACOSTA CYNTHIA GAYE WA 73,500.00 11.625 8.000
10216127327 ARNEY TERRY OH 121,500.00 10.625 6.750
<PAGE>
ALLIANCE FUNDING COMPANY
A division of Superior Bank FSB
Loans Funded and Available for Sale to 1996-3 as of 9/20/96
Current Note
Account Name State Principal Rate Margin
- --------------------------------------------------------------------------------
10216127420 FREDERICKSEN JILL T CO 116,450.00 10.375 7.000
10216127602 WILLIAMS DAVID MI 85,500.00 9.875 5.750
10216127736 TOLLE LAWRENCE D IN 98,800.00 11.125 6.750
10216127907 EWIES RIYAD MI 66,000.00 7.875 3.750
10216128166 SORENSEN CYNTHIA L UT 67,150.00 10.625 6.750
10216128243 SAWICKI KRZYSZTOF J MI 153,000.00 10.875 6.750
10216128563 MCCONNELL GARY FRANCIS CO 215,000.00 10.875 7.250
10216129082 HOSSFELD JOHN B CO 179,200.00 7.375 3.750
10216129268 AL-THIHABAWY ISMAEL MI 38,700.00 9.625 5.750
10216129437 REED ROBERT IL 64,000.00 11.500 7.500
10216130685 PRASHAW SANDRA L CO 71,500.00 9.125 5.500
10216131195 PASK ALAN R MI 55,000.00 8.750 6.000
- ----------- ------------ ------ -----
Loans tagged for 2nd Subsequent Transfer 3,407,848.58 9.686 5.867
10216117812 JAROSINSKI RICHARD IL 89,915.68 9.750 6.000
10216119036 GENCARELLI LOUIS CT 50,348.19 9.125 6.250
10216119759 MILLER KENNETH IL 123,307.73 9.750 6.000
10216122260 CIRULLO SANDRA IN 73,464.79 9.625 5.750
10216122442 FARD ALI MI 209,728.13 9.875 6.000
10216123620 GANDIA ALEX NY 152,000.00 12.125 8.500
10216123916 ORTIZ THOMAS NJ 276,000.00 8.875 5.500
10216124053 KLEIN REBECCA MD 65,700.00 9.875 5.750
10216124661 SANTANA LUCY M IL 66,500.00 9.625 5.750
10216124905 KRITIKOS TONY IL 150,000.00 9.750 6.000
10216125657 CURRAN THOMAS J NJ 330,600.00 7.375 3.750
10216125780 BAILEY JAMES A OH 54,400.00 11.500 7.500
10216126239 SMITH DONALD KY 75,200.00 11.125 7.250
10216126403 MOLAEI MOHSEN MI 59,500.00 10.375 6.250
10216126694 DABAJA TAREK MI 67,500.00 9.625 5.750
10216126707 PHILLIPS CHARLES OH 41,600.00 10.375 6.000
10216127079 HARRIS DOUGLAS O UT 400,000.00 11.625 8.000
10216127171 PANKNER MICHAEL G MI 85,500.00 8.875 5.000
10216127499 ZLATIN SUSAN M MD 235,000.00 8.375 6.000
10216127556 HOWARD THOMAS B WA 163,000.00 7.375 3.750
10216127587 JOHNSON HUBERT D MI 36,000.00 11.125 7.500
10216127592 KENESSEY IVAN G IL 348,000.00 9.750 5.750
10216127613 ROY KENNETH D MI 81,000.00 9.625 5.750
10216128064 BERGERON JAMES H MI 63,000.00 9.625 6.000
10216128244 MOORE MARIA M MI 62,700.00 9.750 5.750
10216128417 OLIVER RONALD IL 169,000.00 9.625 5.750
10216128420 DEWATER ERNEST VAN MI 60,000.00 9.625 6.000
10216128507 JOHNSON MARK G WA 125,600.00 8.875 5.250
10216128759 OBNEY GLENDA L MI 142,800.00 8.375 4.500
10216129241 TYUS RENAE D MI 53,200.00 9.625 6.000
10216129440 PIERCE LUCILLE IL 45,000.00 10.000 6.000
10216129452 AL-ZARGANI HUSSAIN MI 99,000.00 9.625 5.750
10216129456 OWENS DELBERT CORKY IN 68,400.00 9.625 5.750
10216129774 SANTILLANES CHARLES NM 157,250.00 10.125 6.500
10216129847 MEREDITH GERALD IN 180,400.00 10.625 6.750
10216129960 SOUZA VICTORIA D IL 130,000.00 8.125 4.500
10216130206 ETCHEN SHERYL MI 74,700.00 9.625 5.750
10216130242 SCOTT BARBARA D AZ 220,000.00 8.875 5.250
10216130335 AL-ZAYADI HAIDAR MI 61,200.00 9.625 5.750
10216130336 BEYDOUN KAMEL MI 49,600.00 8.875 5.000
10216130363 ADAMS WILLIAM O PA 73,950.00 10.375 6.500
10216130479 SOBH ALI MI 80,700.00 10.625 6.750
10216130480 CONYERS STEVEN A MI 249,900.00 8.875 5.000
10216130490 ISMAIL ALI H MI 108,000.00 9.625 5.750
10216130642 JANNY MOHAMMED S MI 65,300.00 9.125 5.250
10216130839 AL-MOSAWI NAZAR MI 76,500.00 9.625 5.750
10216131339 TALEB ALI MI 66,600.00 9.625 5.750
10218000028 VLIET RONALD E CT 40,978.19 9.125 5.250
10218000037 RIBAS MANUEL CT 147,937.94 10.250 0.000
<PAGE>
ALLIANCE FUNDING COMPANY
A division of Superior Bank FSB
Loans Funded and Available for Sale to 1996-3 as of 9/20/96
Current Note
Account Name State Principal Rate Margin
- --------------------------------------------------------------------------------
10218000050 LOMBARDO RICHARD S CT 129,905.91 7.625 0.000
10218000059 COOPER RICK W NY 32,000.00 11.500 7.250
10218000090 CRUZ PEDRO R NY 159,948.86 11.500 7.250
10218000093 LEFEVRE ALAN C NY 76,500.00 9.875 5.750
10218000104 BUGGY GLENN M CT 391,322.14 9.875 5.750
10218000140 SILNIK LEONARDO D NY 153,553.89 9.375 5.250
10218000154 NIKSA LEWIS NY 51,200.00 9.375 5.250
10218000205 KARAGOUNIS DENNIS NY 181,600.00 11.875 8.000
10218000210 SHOCKLEY CRAIG S PA 115,935.12 12.125 8.500
10218000226 DYADYUK YAKOV NJ 130,000.00 8.875 5.500
10218000258 IIDA YASUHISA NY 196,000.00 10.875 7.250
10218000273 MCSHANE PATRICK PA 197,492.18 9.375 6.750
10218000284 BEIGELMAN LARISA NY 117,600.00 10.125 6.250
10218000320 CRUZ NILES R NY 120,000.00 10.875 7.250
10218000322 BUTLER JOSEPH L PA 35,000.00 10.875 0.000
10218000397 ROMAN-NEAL MAGALI NY 112,000.00 9.875 6.000
10218000453 RESEK MARTIN JR NY 104,000.00 10.375 6.500
10218000468 BLANCO SONJA S NY 115,300.00 11.375 8.500
10218000550 RECUPERO LINDA NJ 500,000.00 9.625 0.000
10218000568 ASHIDA KANEMICHI NY 343,825.00 10.625 0.000
10218000691 MENDEZ NELLY NY 168,000.00 9.375 5.250
10218000697 KINGSLEY STEVEN T CT 370,000.00 11.250 0.000
10218000725 MERAGLIA CARLEEN NY 115,000.00 8.125 4.500
10218000754 MARCHANT MICHAEL A MD 120,000.00 9.125 5.500
10218000788 CHETTA JILL L NY 154,000.00 10.625 7.000
10218000846 KEHOE ANDREW J III MD 185,000.00 11.125 0.000
10218000959 PEIRSON RAYMOND L CT 108,800.00 9.625 0.000
10218000982 NAUGHTON PETER T SR NJ 67,500.00 11.125 0.000
10218001115 FROLICH ROBERT JR NJ 240,000.00 11.625 8.000
10218001211 SANDERS HELEN M NJ 45,500.00 12.125 0.000
10218001457 MARSHALL GEORGE A CT 140,000.00 10.125 6.500
10218001483 WOOTEN CYNTHIA NY 87,380.00 10.875 0.000
10218001650 SYMONETTE DEZRENE COHEN NJ 127,000.00 10.875 7.250
- ----------- ------------- ------ -----
Loans in Servicing not yet tagged for sale 11,097,343.75 9.917 4.995
10216120121 FUNK JEAN E NY 53,600.00 10.125 6.250
10216120473 DORWARD JENNIFER NJ 117,000.00 10.375 6.750
10216120739 ROBLES RONALD M. IN 41,600.00 11.125 6.750
10216120802 HOLMES JOAN MI 82,500.00 10.000 6.000
10216123666 PORTER TROY NY 199,750.00 10.375 6.250
10216125086 PARTHEMORE MARGARET NY 160,000.00 9.875 6.000
10216125270 YI CHANG HWAN NJ 335,750.00 11.000 6.750
10216125471 PURl SONIA PA 175,000.00 10.375 7.000
10216125744 LONGANO JOHN IL 121,500.00 9.250 1.000
10216125764 SOBH MOHAMAD SOBHI MI 54,400.00 8.875 5.000
10216125858 MASSARO JOHN NY 160,000.00 9.875 6.000
10216126048 LENIKMAN VLADIMIR WI 204,000.00 10.750 7.000
10216126051 CARTER CINDY IN 176,700.00 10.000 6.000
10216126134 URQUIJO JOSEPH NY 100,000.00 8.625 5.000
10216126424 PROPATO VINCENZO PA 127,500.00 10.625 7.500
10216126465 LEE DAE H NJ 165,000.00 10.625 7.750
10216126630 NOLIN PAUL S NJ 128,350.00 10.625 6.750
10216126999 MCNEAL MOSES MI 30,000.00 9.875 6.000
10216127165 OTO DOMINIC C. IL 127,800.00 7.125 2.750
10216127222 SETTANI FRANK NY 139,500.00 9.625 5.750
10216127263 STUDER YONG KO NC 139,740.00 10.375 6.500
10216127269 NOVESTERAS JAIME P NY 195,500.00 9.250 5.375
10216127362 SALVATO ANTHONY S NC 74,000.00 9.375 5.250
10216127454 MELHEM NADIMEH PA 89,100.00 9.625 5.750
10216127750 SMITH MARK E IL 40,000.00 11.125 6.750
10216127816 SUIDA JR HENRY F PA 63,000.00 9.625 5.750
10216127899 SEVERSON GARY L MN 108,800.00 10.125 6.250
10216127902 GOODWIN KEITH W MI 93,500.00 8.375 4.500
<PAGE>
ALLIANCE FUNDING COMPANY
A division of Superior Bank FSB
Loans Funded and Available for Sale to 1996-3 as of 9/20/96
Current Note
Account Name State Principal Rate Margin
- --------------------------------------------------------------------------------
10216127914 HILL HARRY OH 35,500.00 11.500 5.750
10216128142 THOMPSON JOSEPH NY 272,000.00 7.625 3.750
10216128215 CASSADY CHARLES M NV 108,000.00 8.625 5.000
10216128484 ZIZLSPERGER JOSEPH C AZ 152,991.00 9.875 6.250
10216128558 TRUJILLO TERRY J AZ 148,750.00 10.625 7.000
10216128572 MERSCHDORF TODD H. MN 42,500.00 8.875 5.250
10216128816 AQUILINO DIANE P NY 106,250.00 8.375 4.500
10216129180 ROSENQUIST HEATHER E WA 92,000.00 9.875 6.250
10216129240 WECHET DONALD SR IL 160,000.00 11.125 7.500
10216129251 VANKO JOHN J IL 161,600.00 10.875 6.750
10216129303 PRICE JAMES ERIC PA 132,000.00 11.250 7.250
10216129555 WASSERMAN ROBERT JAY IL 202,300.00 8.125 4.500
10216129560 GRAF DANIEL I OH 50,000.00 9.625 6.000
10216129583 DENNEY CONSTANCE LOUISE KY 49,600.00 11.500 7.500
10216129730 CRUZ ROSITA AZ 105,000.00 8.875 5.250
10216129740 MACDOWELL STEVEN J CA 243,525.00 9.375 5.750
10216129820 REYES RODOLFO IL 140,400.00 8.875 5.000
10216129957 BREVITZ EUGENE W. IL 89,000.00 9.625 6.000
10216129968 COOMBS LESLIE BRIANT IL 140,000.00 7.625 3.750
10216130060 PTACEK III EDWARD J CO 135,950.00 9.125 5.250
10216130080 GILES SHIRLEY P IL 80,100.00 8.875 5.000
10216130090 HACHEM FATMA MI 29,700.00 9.625 5.750
10216130340 AL-MUSAWI HAKIM MI 58,500.00 9.625 5.750
10216130343 DORAN RICHIE IN 180,000.00 9.125 5.250
10216130388 RODRIGUEZ ALBERT M AZ 63,270.00 10.375 6.750
10216130838 EID NAJIB MI 66,600.00 9.625 5.750
10216130929 O'NEAL WENDELL B. IL 202,500.00 9.625 5.750
10216131065 WILBORN ANTHONY E. IL 52,600.00 11.750 6.750
10216131074 BERFIELD EUGENE J PA 52,000.00 11.250 7.250
10216131167 HARTMAN ERVIN R AZ 102,850.00 10.125 6.500
10216131170 TRAN RUBY WA 70,000.00 8.875 5.750
10216131189 CARSON RUBY M IL 67,500.00 11.450 4.500
10216131279 BOWMAN CHARLES FREDERICK CO 98,600.00 10.375 6.500
10216131420 SOUAD TURKIA MI 43,200.00 9.625 5.750
10216131584 MAKKI SAMI MI 126,000.00 9.625 5.750
10216131712 SAAD MOHAMAD A. MI 66,600.00 9.875 5.750
10216131714 O'DONNELL CHARLES J. MI 251,900.00 9.875 5.750
10216131717 SELLMAN JON CHADWICK MN 135,000.00 9.250 5.500
10216131974 SOBH ALl H. MI 78,300.00 9.875 5.750
10216132121 BAZZI NAFEH MI 39,600.00 9.875 5.750
10218000505 SABATINO ROBERT C NY 135,700.00 10.125 7.250
10218000600 TRENT JAMES E NY 94,500.00 10.125 6.250
10218000716 WEISS WILLIAM R CT 176,000.00 11.500 7.250
10218000743 GREEN CLIFFETON NY 192,000.00 10.875 7.250
10218000745 BRENKERT MICHAEL NY 117,600.00 12.125 8.500
10218000830 MIZUNO KEIKO NY 488,000.00 9.500 6.250
10218000952 GARSTON PRISCILLA NY 300,000.00 7.375 3.750
10218000970 BALLARO LEONARD J SR CT 123,750.00 10.000 6.000
10218001242 GRANDA EDGAR NJ 150,450.00 8.625 5.500
10218001379 LEE SUNG OK NY 217,500.00 10.125 6.500
10218001441 RYNDERMAN MICHEL MA 247,500.00 9.625 5.750
10218001508 PRATT NANCY A CT 111,150.00 9.625 5.750
10218001562 MARTINEZ ALAN M NJ 110,500.00 12.375 8.000
- ----------- ------------- ------ -----
Loans Funded and not yet in Servicing 10,400,426.00 9.767 5.905
Total ARM Loans Funded and Available 43,569,551.73 9.861 5.771
10266107214 CRUZ FRANCISCO NY 129,935.46 11.950 0.000
10266114443 THIPHANH BONNIE PA 24,897.02 11.750 0.000
10266115340 WILSON CHRISTINE M NY 89,250.00 9.750 0.000
10266115348 VALDEZ DAVID G AZ 43,969.02 10.500 0.000
10266116145 LEGROS RICHARD NY 40,000.00 13.350 0.000
10266116348 LONG JOHN E NY 49,300.00 10.900 0.000
<PAGE>
ALLIANCE FUNDING COMPANY
A division of Superior Bank FSB
Loans Funded and Available for Sale to 1996-3 as of 9/20/96
Current Note
Account Name State Principal Rate Margin
- --------------------------------------------------------------------------------
10266117063 MACHADO REBECCA NY 191,000.00 11.800 0.000
10266117104 WIDERMAN DAVID E MD 77,963.59 12.100 0.000
10266117787 SCOTT RICK D IL 30,600.00 13.500 0.000
10266118081 ROTH JACOB T OR 149,551.51 9.875 0.000
10266118666 KAPAROS LITSA NY 73,000.00 12.500 0.000
10266119004 GAFFNEY WARREN H NY 60,000.00 12.200 0 000
10266119148 KELLY ROBERT NJ 152,000.00 10.500 0.000
10266119182 KOHLER GARY M OR 115,200.00 10.250 0.000
10266119192 SIMMONS BERNICE NY 179,775.69 11.200 0.000
10266119196 MARTIN DELLA NY 209,000.00 11.700 0.000
10266119414 HARRIGAN SWINSTON C NY 18,700.00 11.400 0.000
10266119449 NGUYEN JEFFERSON NY 100,300.00 12.200 0.000
10266119529 BINETTE FRANCOIS DEJEAN NY 131,222.28 13.350 0.000
10266119559 RUIZ CARLOS T NY 207,000.00 10.750 0.000
10266119890 LOPEZ SERGIO IL 42,700.00 9.250 0.000
10266119905 HEJNY JOHN G IL 40,000.00 11.490 0.000
10266119943 CLOUTIER DONALD J NJ 55,000.00 12.000 0.000
10266119945 MCGRIFF BARBARA NY 127,792.01 10.650 0.000
10266119952 JOSEPH ROBERT NY 57,613.83 10.750 0.000
10266119983 CLAWSON GAVIN UT 43,200.00 14.550 0.000
10266119996 MELI STEPHEN C OR 16,738.00 12.750 0.000
10266120143 STEWART BERNARD NY 132,000.00 14.550 0.000
10266120246 PETERSEN HOWARD B UT 93,600.00 11.550 0.000
10266120285 MAIORANO RALPH E IL 142,844.20 10.750 0.000
10266120338 OGUNBOWALE TOSIN NY 48,000.00 11.350 0.000
10266120353 GURLEY DAVID A IN 18,292.91 12.000 0.000
10266120512 CHESSIE JOSEPH M WA 30,375.00 14.500 0.000
10266120554 PIETZ JAMES J UT 32,750.00 14.500 0.000
10266120690 KORDISH WILLIAM A OH 52,000.00 11.250 0.000
10266120697 ESPOSITO BEVERLY A OH 96,000.00 10.000 0.000
10266120711 ARELLANO AURELIO IN 44,800.00 11.990 0.000
10266120902 SMITH ERNEST R CT 23,500.00 12.500 0.000
10266120931 WOHLFEIL GORDON L WA 70,000.00 11.750 0.000
10266121072 AVRAMOV LEPA NJ 131,842.40 10.750 0.000
10266121106 ROCCO JAMES NJ 174,314.15 10.300 0.000
10266121137 LUCKENBAUGH DOUGLAS A PA 181,350.00 10.500 0.000
10266121258 BANKS EUTHA IL 64,978.06 11.250 0.000
10266121274 PODEIN BONTIA MI 36,000.00 12.250 0.000
10266121281 MOON BETTIE J MI 17,558.11 10.750 0.000
10266121284 WOODS MARY MI 38,200.00 12.240 0.000
10266121362 CHANG FRITZ WA 99,900.00 11.900 0.000
10266121394 ZELINSKY EUGENE J PA 55,201.44 11.700 0.000
10266121603 HARTLEY ROBERT P OR 15,000.00 13.500 0.000
10266121803 GANZ DAVID NY 100,000.00 10.750 0.000
10266121847 FRISCHKNECHT FRED G UT 13,240.00 16.090 0.000
10266121858 YARDLEY CHARLES M AZ 21,334.95 14.700 0.000
10266121952 HETRICK ARTHUR C AZ 33,988.00 12.700 0.000
10266122118 RADOWITCH EDGAR F PA 101,000.00 11.850 0.000
10266122153 RANDAZZO SALVATORE FL 49,200.00 11.990 0.000
10266122204 GREEN JAMES T GA 24,957.71 13.750 0.000
10266122254 BROWN GENERAL L MI 14,000.00 12.250 0.000
10266122276 RICHBURG YVETTE NY 139,500.00 11.200 0.000
10266122346 SCHRAGER LONDA NY 40,800.00 13.750 0.000
10266122446 HILLAIRE GAYMAN NY 126,000.00 10.990 0.000
10266122555 NAMER MOISES W GA 24,593.27 12.200 0.000
10266122586 STRUSS KEVIN NY 30,000.00 11.500 0.000
10266122644 GOKOOL SURINDRA AZ 12,000.00 11.000 0.000
10266122749 GOLDSTEIN NATHAN NY 265,000.00 9.950 0.000
10266122817 DUCA ANTHONY NJ 50,000.00 11.650 0.000
10266122826 LEE LARRY IL 67,000.00 13.490 0.000
10266122940 SHERR ALAN NY 60,000.00 10.750 0.000
10266122984 REYNOLDS STEVE IL 62,521.72 10.990 0.000
10266123033 BAKSHI FARSHID NY 40,000.00 10.990 0.000
<PAGE>
ALLIANCE FUNDING COMPANY
A division of Superior Bank FSB
Loans Funded and Available for Sale to 1996-3 as of 9/20/96
Current Note
Account Name State Principal Rate Margin
- --------------------------------------------------------------------------------
10266123091 YARSIEN ZAFRULLAH NY 80,100.00 11.500 0.000
10266123119 MITCHELL WILLIE J CO 15,000.00 14.250 0.000
10266123183 LESTER PATRICIA M OH 16,964.93 10.850 0.000
10266123236 BUONADONNA ANTHONY PA 20,665.00 11.500 0.000
10266123242 PESSOA CAROL C PA 65,700.00 11.250 0.000
10266123325 MECHAM DENNIE UT 74,800.00 9.750 0.000
10266123331 CRAWFORD ROBERT G GA 55,100.00 12.950 0.000
10266123373 REED VICTOR J DE 18,025.00 12.990 0.000
10266123397 WHITE STEPHEN M NY 52,500.00 10.250 0.000
10266123495 SMITH RICK S NV 21,500.00 12.990 0.000
10266123497 ROTHENBILLER JOHN E NJ 104,000.00 10.790 0.000
10266123501 MYERS MARK E WA 22,100.00 14.500 0.000
10266123553 CHARBENEAU SUSAN J MI 70,880.89 10.750 0.000
10266123638 RAMAWAD BENNIE NY 107,200.00 11.800 0.000
10266123677 GRIPPA FRED P II CO 160,000.00 10.750 0.000
10266123717 CURRY ANNIE OH 22,000.00 10.850 0.000
10266123739 LEE BILLY M IN 62,500.00 11.500 0.000
10266123765 ITZKO STEVEN Z PA 62,100.00 12.400 0.000
10266123795 PETTIT ALLEN E PA 60,520.00 10.750 0.000
10266123826 HILLEGASS CHARLES G GA 57,653.92 11.500 0.000
10266123834 WINGER LARRY D UT 29,446.00 12.000 0.000
10266123898 LLOYD THOMAS OH 64,800.00 11.500 0.000
10266123957 MATTHEWS DWON GA 86,000.00 11.850 0.000
10266124141 CORNIER LUIS E JR DE 45,160.90 11.700 0.000
10266124155 DEYARMIN KENNETH E PA 64,800.00 11.500 0.000
10266124264 PETTIT CAROLE IL 19,300.00 11.990 0.000
10266124273 KARAKY ZEINA MI 89,987.59 11.500 0.000
10266124331 GABOUREL GEORGE NY 56,943.25 9.500 0.000
10266124338 MADRID RICK D UT 13,581.02 15.850 0.000
10266124343 WOOLSEY MICHAEL B UT 30,407.77 13.950 0.000
10266124431 BELL JOHN HENRY IL 106,200.00 11.750 0.000
10266124446 SITAWI SHINDA OH 50,100.00 10.500 0.000
10266124463 MINGER RUSSELL F OH 73,800.00 11.500 0.000
10266124513 CHAPPELL ORVILLE B NC 83,500.00 10.950 0.000
10266124550 DEFINE JUNE PA 85,000.00 10.750 0.000
10266124578 KIEFER LAWRENCE L NM 83,984.67 10.990 0.000
10266124594 OMALLEY RICHARD NY 38,500.00 9.700 0.000
10266124618 GOOLD GREGORY B UT 30,946.74 11.600 0.000
10266124634 GARDNER LEONARD NC 50,000.00 10.950 0.000
10266124670 SMITH ERIC MI 28,000.00 9.750 0.000
10266124671 CHEEKS WALTER EUGENE Ml 44,887.90 10.250 0.000
10266124678 CASH ANGELA IN 54,400.00 13.250 0.000
10266124696 WILLIAMS VERNON LEE MD 23,700.00 12.750 0.000
10266124704 BREWER SAMUEL H PA 15,000.00 13.690 0.000
10266124709 FENSTER MARC PA 39,111.76 10.750 0.000
10266124713 COVERDALE GEORGIA ANN DE 16,120.17 12.600 0.000
10266124743 CZARNIK WILLIAM C NJ 52,300.00 13.990 0.000
10266124772 SAVAGE TRACY OR 216,748.96 13.250 0.000
10266124777 MCADOW RALPH FL 55,112.11 10.750 0.000
10266124787 SCHMIDT EDWARD C AZ 31,650.00 13.550 0.000
10266124822 BEALE JANET NJ 67,443.73 9.950 0.000
10266124873 KONASIEWICZ ANN F NJ 35,000.00 11.250 0.000
10266124879 STONE BYRON M CA 24,700.00 11.500 0.000
10266124882 WEE KIM LIANG AZ 21,387.00 13.150 0.000
10266124885 BEJARANO JOSE CO 30,000.00 10.250 0.000
10266124904 MONTGOMERY THOMAS G MI 94,229.50 10.500 0.000
10266124926 FERRAO CYRIL NJ 199,782.24 10.750 0.000
10266124941 MCWHALES CHARLES CT 116,100.00 11.750 0.000
10266124978 NEESE MARTIN FRANKLIN GA 37,926.30 11.700 0.000
10266124995 DEEN SAMUEL NY 23,500.00 11.990 0.000
10266125004 PRATT GERALD L WA 30,000.00 11.000 0.000
10266125007 JOJOLA VICTOR L NM 18,917.00 14.250 0.000
10266125010 JUSTESEN JAMES S UT 37,046.77 12.600 0.000
<PAGE>
ALLIANCE FUNDING COMPANY
A division of Superior Bank FSB
Loans Funded and Available for Sale to 1996-3 as of 9/20/96
Current Note
Account Name State Principal Rate Margin
- --------------------------------------------------------------------------------
10266125129 OTTLEY SCOTT R NY 139,500.00 10.750 0.000
10266125152 PIZZICHILI DANIEL J JR DE 32,470.93 12.900 0.000
10266125213 EINHAUS ALAN W WA 27,645.00 13.990 0.000
10266125257 KOPPERUD RUSSELL M CO 29,620.00 12.250 0.000
10266125316 FAIR RAYMOND P PA 28,000.00 10.500 0.000
10266125384 CONCI VICTOR M CO 40,600.00 10.000 0.000
10266125392 HERRERA ROSEMARIE NY 220,000.00 10.500 0.000
10266125401 HOWELL HILDEGARDE M NJ 99,979.29 10.740 0.000
10266125462 OLSON DAVE D UT 17,600.00 13.240 0.000
10266125477 ALLEN ROBERT L CA 172,000.00 11.800 0.000
10266125484 MELDRUM JEFF UT 76,592.49 13.700 0.000
10266125485 FISH DAVID R CT 361,000.00 12.490 0.000
10266125520 FERDINAND PETER MD 88,000.00 14.000 0.000
10266125525 EDDLEMAN LANCE L UT 21,280.68 11.750 0.000
10266125560 GRANT ERIC MD 61,400.00 11.740 0.000
10266125588 KOHART EDWARD THOMAS OR 30,902.31 11.740 0.000
10266125589 CARMODY KATHLEEN M CO 34,680.00 13.240 0.000
10266125626 SNARR KENT DEE UT 28,000.00 13.700 0.000
10266125637 UEBELHACK JON W UT 26,211.69 13.150 0.000
10266125640 LEKIC MARK S UT 24,000.00 12.700 0.000
10266125706 HEINZMANN TINA S CT 42,000.00 12.750 0.000
10266125729 VANGELOVSKI STOJAN IL 194,960.04 10.750 0.000
10266125731 DIXON WILLIAM E IL 52,700.00 9.990 0.000
10266125740 SIMS HERMAN IL 69,880.41 10.000 0.000
10266125755 EICHER JOHN A IN 67,409.96 9.900 0.000
10266125756 RESPRESS IDA BELL OH 44,200.00 10.250 0.000
10266125761 LIVINGSTON TERESA J IN 59,592.84 10.250 0.000
10266125817 PIWKIEWICZ DEBRA J IL 54,983.36 11.750 0.000
10266125844 HESTAND DENNIS ALLEN IN 87,904.48 11.240 0.000
10266125867 KNAUF JOHN MARTIN PA 46,000.00 10.000 0.000
10266125900 WHITAKER ROBERT FL 38,250.00 12.490 0.000
10266125905 JAMES BUELAH FL 41,600.00 10.750 0.000
10266125928 PERRY DAVID E NC 25,100.00 12.950 0.000
10266125953 MILO MICHAEL J NY 59,582.76 11.250 0.000
10266125965 FISHER LARRY K CO 35,000.00 12.740 0.000
10266125989 HAHLBOHM JAE NY 99,450.00 12.000 0.000
10266126015 WEBSTER GRANT J UT 15,000.00 14.350 0.000
10266126042 GRINKO DONALD M IL 104,000.00 10.990 0.000
10266126103 HENNESSEY GERALDINE NY 50,000.00 12.990 0.000
10266126160 KELLER IRWIN C NY 40,000.00 11.640 0.000
10266126177 VILLARDE JUAN G CA 74,500.00 12.700 0.000
10266126185 FERREE JACQUELINE R ID 27,564.00 11.750 0.000
10266126188 PATERSON THOMAS A OR 31,000.00 13.000 0.000
10266126236 MOYER CYNTHIA IN 103,500.00 10.750 0.000
10266126271 LENGYEL THOMAS D PA 72,842.57 10.990 0.000
10266126298 MADSEN MARILYN K UT 26,523.65 13.150 0.000
10266126304 BARZELATTO ANTHONY NJ 54,700.00 13.000 0.000
10266126308 OPFER HARVEY E CO 116,000.00 11.250 0.000
10266126310 PEDMO CARL J JR PA 85,000.00 9.850 0.000
10266126353 GORBY HARRY PA 20,000.00 11.990 0.000
10266126371 MALM KENNETH A SR NY 32,119.06 10.450 0.000
10266126386 MILLER PETER J OH 39,831.34 12.250 0.000
10266126395 GOMILLA BERNICE IL 54,872.79 10.500 0.000
10266126404 KHANDOUR SAFA MI 24,500.00 10.500 0.000
10266126442 CARLSEN THOMAS R UT 22,750.00 13.150 0.000
10266126528 WOLFF EILEEN G IL 25,000.00 12.100 0.000
10266126534 FOROWYCZ ZENON IL 38,300.00 10.750 0.000
10266126535 PATTON MARGARET L IN 53,416.55 10.250 0.000
10266126609 JACKSON VICTORIA PA 52,500.00 13.750 0.000
10266126677 DANIELS FRANK S IL 175,900.00 10.000 0.000
10266126678 MARTIN JOHN R IL 25,500.00 12.250 0.000
10266126681 SHIREMAN THERESA IL 56,000.00 10.250 0.000
10266126691 TURGEL LARISA IL 14,000.00 10.000 0.000
<PAGE>
ALLIANCE FUNDING COMPANY
A division of Superior Bank FSB
Loans Funded and Available for Sale to 1996-3 as of 9/20/96
Current Note
Account Name State Principal Rate Margin
- --------------------------------------------------------------------------------
10266126725 PERSING GEORGE F PA 55,000.00 11.000 0.000
10266126751 ESPANA ANGEL NY 90,000.00 11.150 0.000
10266126774 HOLZER RUDOLPH FL 54,000.00 12.440 0.000
10266126780 COULTER HOWARD M OR 165,470.14 10.990 0.000
10266126782 JENKINS MICHAEL L UT 29,035.00 11.750 0.000
10266126792 RODRIQUEZ DANIEL R AZ 127,500.00 14.250 0.000
10266126793 LEONARD RUBY M VA 49,680.07 10.990 0.000
10266126808 JELNIO GLEB A AZ 187,800.00 11.250 0.000
10266126823 GIBSON CALVIN L OR 24,905.21 12.000 0.000
10266126835 MASHECK WALTER L CT 22,850.00 12.950 0.000
10266126840 PENNEBAKER WILLIAM R WA 32,786.00 13.250 0.000
10266126853 MARTELL GEORGE A UT 55,327.44 13.340 0.000
10266126867 TAYLOR LINDA MARIE OH 54,000.00 10.250 0.000
10266126871 SALAHUDDIN BILAL IL 64,966.40 9.750 0.000
10266126873 BRENDEL SCOTT J IL 37,100.00 14.250 0.000
10266126901 SCHNASE JAMES E OR 43,000.00 11.750 0.000
10266126925 SCANDALIATO STEVEN J CO 23,000.00 10.500 0.000
10266126994 KELLY LOUIS IL 15,000.00 10.750 0.000
10266127036 KING CHEW LINDA MD 50,400.00 13.550 0.000
10266127040 STICKLER KENNETH R FL 37,500.00 10.850 0.000
10266127041 DONLON DIANE FL 62,865.99 11.990 0.000
10266127049 BAKER RONALD J MD 111,250.00 10.950 0.000
10266127075 HOUSEKEEPER DENNIS HAL UT 18,109.50 13.700 0.000
10266127082 WILEY SCOTT LEROY UT 32,364.87 12.450 0.000
10266127133 FOSMIRE MARIA J PA 24,900.00 12.900 0.000
10266127143 TENHOEVE MARK R UT 31,000.00 11.500 0.000
10266127145 HAYES HAL B UT 31,500.00 11.750 0.000
10266127150 BABCOCK MICHAEL NY 25,000.00 12.990 0.000
10266127174 HAYWOOD CHARLES E MI 18,379.66 13.750 0.000
10266127234 TROSKO RICHARD CO 29,790.00 12.250 0.000
10266127254 TOLMAN KEVIN L UT 59,700.00 13.700 0.000
10266127258 CARPENZANO CHRISTINA M FL 17,915.90 13.990 0.000
10266127277 WITTEMANN LINDA J AZ 29,266.78 11.400 0.000
10266127287 DUNHAM RODNEY S OR 27,000.00 11.400 0.000
10266127297 JACKSON DENNIS E WI 29,500.00 14.250 0.000
10266127298 SHARRON PAUL E OH 31,000.00 12.000 0.000
10266127331 LANGLEY JEREMIAH CT 55,000.00 12.390 0.000
10266127360 PITCHFORD JAMES EDWARD NC 65,000.00 10.400 0.000
10266127370 MADDOX VALERIE ANN UT 71,250.00 10.500 0.000
10266127371 BOCK PHILIP MICHAEL FL 13,597.00 11.750 0.000
10266127412 KIM KYONG CO 25,500.00 12.250 0.000
10266127417 SANTIAGO HILLARY M HARRIS NY 10,000.00 11.740 0.000
10266127440 WILLIAMS RANDY LYNN UT 30,900.00 12.800 0.000
10266127441 FURLONG THOMAS R UT 15,336.00 15.590 0.000
10266127442 UITERT TONY VAN UT 14,311.00 15.350 0.000
10266127475 MUSGROW ANDRE UT 16,411.00 14.500 0.000
10266127488 BLUTH ROBERT G AZ 70,000.00 12.250 0.000
10266127514 CHRISTMAN RONALD H NJ 48,000.00 11.750 0.000
10266127520 YOUNG M RODNEY PA 245,000.00 11.990 0.000
10266127538 VITRO JOHN EDWARD OR 23,425.00 11.500 0.000
10266127559 PILIU SATEKI F UT 36,000.00 14.250 0.000
10266127560 RUEBEL JEFFREY CLAY CO 117,000.00 11.750 0.000
10266127562 MACK ROBERT E OR 38,875.00 11.750 0.000
10266127580 LESHOURE LINDA IL 42,400.00 10.750 0.000
10266127593 SMOLIK STANISLAW IL 20,000.00 11.950 0.000
10266127595 ZAJAC GREGORY IL 232,000.00 9.500 0.000
10266127617 MOEHL TIMOTHY IN 25,600.00 12.250 0.000
10266127629 WARD ROBIN S IN 15,400.00 14.250 0.000
10266127635 MACK EDWARD A NJ 71,849.00 12.190 0.000
10266127645 SLOVER ARTHUR NJ 20,000.00 12.000 0.000
10266127652 BREGG DOUGLAS M FL 54,800.00 11.490 0.000
10266127681 WALLACE ROBERT UT 21,800.00 13.450 0.000
10266127686 WELSCH CURTIS R UT 19,100.00 15.450 0.000
<PAGE>
ALLIANCE FUNDING COMPANY
A division of Superior Bank FSB
Loans Funded and Available for Sale to 1996-3 as of 9/20/96
Current Note
Account Name State Principal Rate Margin
- --------------------------------------------------------------------------------
10266127688 CLARK SHANE UT 40,000.00 13.750 0.000
10266127710 TOWNSEND PHILIP FL 133,000.00 11.490 0.000
10266127715 SLOAT JOAN W NV 43,631.00 12.250 0.000
10266127743 PORTER JIM JR IL 16,500.00 12.500 0.000
10266127745 LEE EARL JR IL 19,000.00 11.500 0.000
10266127800 MACK ROBERT EDWARD OR 17,000.00 10.500 0.000
10266127835 GARD JACK J FL 46,400.00 13.490 0.000
10266127838 ALEXANDER CANDY FL 52,500.00 11.250 0.000
10266127857 HANLEY STEPHEN V CO 38,974.44 13.600 0.000
10266127865 WASINGER LINDA L CO 57,200.00 10.990 0.000
10266127876 PHAN KENNY WA 65,229.00 13.250 0.000
10266127886 SUSTER DEWEY IL 23,333.00 11.500 0.000
10266127930 BRADSHAW JASON H UT 68,240.00 10.250 0.000
10266127945 KELESYAN SUSAN E FL 69,588.79 11.200 0.000
10266127996 WATSON CHARLES P NV 40,400.00 14.500 0.000
10266127998 MILLER MARY J UT 12,990.77 11.350 0.000
10266127999 DURAN ROBERT G AZ 12,849.00 12.750 0.000
10266128029 MENDIOLA PETER A WA 15,000.00 12.250 0.000
10266128034 GRISWOLD SHARON D FL 96,000.00 10.700 0.000
10266128051 BILES GWENDOLYN J MI 45,700.00 12.250 0.000
10266128052 LARSEN JOHN T IL 42,800.00 14.250 0.000
10266128054 WILKINS JESSIE L OH 22,934.85 9.250 0.000
10266128100 ROY DENA J CT 73,600.00 10.700 0.000
10266128102 PETRILLI ANTHONY NJ 146,900.00 12.850 0.000
10266128111 WALSH DORIS L NY 67,300.00 11.250 0.000
10266128120 WESTERFIELD JERALD FL 71,450.00 12.500 0.000
10266128133 FINK JOSEPH E JR PA 36,300.00 11.020 0.000
10266128137 WALKER KRISTY L UT 20,000.00 14.090 0.000
10266128163 PERRY RICHARD J JR UT 15,700.00 13.200 0.000
10266128172 BURGON MICHAEL A UT 49,000.00 11.750 0.000
10266128181 SUSTER DEWEY IL 55,042.08 11.500 0.000
10266128187 BARNES GERALD A CO 14,000.00 11.000 0.000
10266128188 CHILDRESS DEBRA L CO 15,000.00 14.500 0.000
10266128198 ESTADT JOHN CHARLES NC 88,650.00 11.150 0.000
10266128199 BOST HAROLD KEITH CO 33,000.00 11.500 0.000
10266128202 CAYTON JOHN E SR NC 23,140.67 11.950 0.000
10266128205 POTKINS JEFFREY R UT 65,450.00 12.750 0.000
10266128209 FRENCH LINDA L CO 18,208.00 13.250 0.000
10266128222 BRASTAD MICHAEL IL 102,800.00 11.750 0.000
10266128233 GRAZIANO LAWRENCE IL 35,000.00 9.750 0.000
10266128259 BONDURICH JEFFREY L PA 68,000.00 13.990 0.000
10266128269 MAHAN ROBERT C JR CT 21,400.00 12.450 0.000
10266128272 DIXON DIANA KITT NY 126,000.00 10.750 0.000
10266128273 PHILIPS KEVIN G NY 130,358.94 11.500 0.000
10266128275 KONTARINES EFSTATHOS NY 20,000.00 12.400 0.000
10266128278 KRATZER MARK C MD 46,300.00 12.990 0.000
10266128283 REIGENBORN JAMES CLARK CO 27,100.00 12.250 0.000
10266128294 ALEKSIN R MARK FL 66,200.00 11.750 0.000
10266128300 WARRINGTON INEZ FL 30,000.00 11.990 0.000
10266128301 MOSER REGINA CO 31,500.00 11.000 0.000
10266128318 SHEDEED PATRICIA ANN CO 20,000.00 12.250 0.000
10266128327 STEELE RICHARD J CO 50,000.00 11.750 0.000
10266128356 FUNDRELLA MARGARET PA 28,000.00 11.250 0.000
10266128395 STEVENS DELBERT L JR CO 12,560.00 14.000 0.000
10266128397 BITTER WARREN B UT 52,000.00 12.250 0.000
10266128399 CICCHESI EDWARD D NY 30,000.00 12.990 0.000
10266128400 MARTIN JAMES M PA 27,975.00 11.650 0.000
10266128401 GREEN ODIS E MI 15,000.00 14.250 0.000
10266128415 ROLLE WILLIAM H IL 45,000.00 10.750 0.000
10266128435 LAVALLEE PAUL A CT 30,900.00 12.990 0.000
10266128458 MORITZ STEPHEN E PA 41,900.00 11.950 0.000
10266128480 BYTHEWAY WILLIAM EDWIN PA 57,750.00 12.250 0.000
10266128482 WARNER JAMES WILLIAM JR CO 104,000.00 11.750 0.000
<PAGE>
ALLIANCE FUNDING COMPANY
A division of Superior Bank FSB
Loans Funded and Available for Sale to 1996-3 as of 9/20/96
Current Note
Account Name State Principal Rate Margin
- --------------------------------------------------------------------------------
10266128492 HIGGINBOTHAM ALBERT L FL 29,000.00 12.490 0.000
10266128518 CHEVALLIER MARYSE NY 116,000.00 11.550 0.000
10266128529 MONACO THOMAS F CT 27,400.00 12.990 0.000
10266128550 SWAN CURTIS L CO 50,900.00 10.850 0.000
10266128566 BERGESON GAREY G WA 30,000.00 11.500 0.000
10266128573 HICKEY RONALD J IL 44,000.00 10.750 0.000
10266128578 WEINGART RUSSELL IL 35,600.12 11.250 0.000
10266128618 ROGERS CARL JR WA 15,700.00 12.750 0.000
10266128624 GROOMES VESTORIA W NC 39,000.00 9.450 0.000
10266128640 ROMANO TONY AZ 80,000.00 11.750 0.000
10266128644 KNITTEL JAMES L WA 29,713.00 13.250 0.000
10266128653 BROWN JAMES L PA 71,400.00 12.900 0.000
10266128655 PETERSEN MICHAEL J UT 15,000.00 11.750 0.000
10266128656 MCLAUGHLIN CHRISTINE M FL 40,000.00 10.950 0.000
10266128658 GREEK ANGELA E FL 38,000.00 10.990 0.000
10266128689 LUND LARRY UT 29,359.17 12.900 0.000
10266128695 HAYTHORN RUSSELL J PA 11,300.00 12.250 0.000
10266128712 HANSEN THOMAS G CO 37,000.00 10.500 0.000
10266128721 FORT WILLIAM C NM 56,300.00 13.250 0.000
10266128725 STOCKFISH STEVE M UT 22,397.00 12.250 0.000
10266128728 LOPEZ MARIO CO 18,000.00 11.750 0.000
10266128751 BRYAN HARRY T IL 45,600.00 11.250 0.000
10266128758 JONES WILMA DEAN IL 91,916.33 9.500 0.000
10266128773 BESS BARBARA D FL 29,950.00 10.740 0.000
10266128781 LEE WILLIAM JR FL 14,000.00 11.700 0.000
10266128833 SCOTT WAYNE A MD 79,500.00 12.490 0.000
10266128850 FERGUSON STANLEY P FL 28,800.00 13.500 0.000
10266128851 DELGADO EVANGELINA FL 36,500.00 13.750 0.000
10266128852 MORRISSEY RICHARD J JR FL 16,100.00 13.450 0.000
10266128857 CARTER NANCY J FL 24,000.00 11.990 0.000
10266128879 SNEDECOR ROBERT W NY 46,800.00 14.590 0.000
10266128882 MACCARONE LOUIS J NY 210,000.00 12.500 0.000
10266128883 KETHLAOR JIM WA 34,000.00 11.500 0.000
10266128889 ADAMSON KAROL CO 20,700.00 12.750 0.000
10266128891 ROBINSON JEAN NJ 79,200.00 15.090 0.000
10266128905 SMITH JULIE L CO 17,900.00 12.750 0.000
10266128912 HEAD TERRY E CA 38,000.00 12.400 0.000
10266128918 FRYE JAMES T IL 32,000.00 10.000 0.000
10266128952 BEACH WILLIAM J NY 57,700.00 13.500 0.000
10266128961 SMITH DANIEL NY 100,000.00 10.500 0.000
10266128968 EDWARDS JAMES E NC 74,297.00 11.740 0.000
10266128971 REDSHAW MICHELE M FL 26,200.00 9.700 0.000
10266129002 WILLIAMSON LEWIS PA 14,000.00 12.990 0.000
10266129004 WARNOCK RICHARD E UT 26,500.00 13.850 0.000
10266129005 FUNDERBURK JOHN J JR MD 80,320.00 12.750 0.000
10266129044 IMOR RICHARD CT 100,000.00 12.990 0.000
10266129048 MOORE SANDRA D FL 19,250.00 12.990 0.000
10266129067 BENKOVITZ STEPHEN NY 61,500.00 11.480 0.000
10266129079 WEBB LESLIE PA 27,400.00 11.740 0.000
10266129080 MCDONOUGH KENNETH W PA 22,500.00 10.490 0.000
10266129086 HAULISKA GLENN W SR PA 58,500.00 10.650 0.000
10266129103 HERN GARY WAYNE II CA 43,536.00 11.500 0.000
10266129106 DOMSKY STEVEN NV 13,500.00 11.750 0.000
10266129110 SCHULTZ RONALD S AZ 21,800.00 12.250 0.000
10266129130 DAVIS BRYAN F UT 21,590.00 14.000 0.000
10266129133 JONES EDWARD M CT 26,500.00 12.600 0.000
10266129140 BROWN ANDREA NJ 67,500.00 11.750 0.000
10266129161 DYBEVICK JAMES W FL 19,500.00 11.700 0.000
10266129168 WEBSTER RACHEL CAMPBELL NC 55,250.00 12.200 0.000
10266129184 CUEVAS FIFINE CO 17,000.00 12.000 0.000
10266129185 GONZALES JOHNNY RAY CO 108,000.00 11.250 0.000
10266129188 ANSAH MATTHEW E CO 48,328.00 14.250 0.000
10266129202 JORDAN RICHARD E ID 42,000.00 9.900 0.000
<PAGE>
ALLIANCE FUNDING COMPANY
A division of Superior Bank FSB
Loans Funded and Available for Sale to 1 9~3 as of 9/20/96
Current Note
Account Name State Principal Rate Margin
- --------------------------------------------------------------------------------
10266114607 SANBORN KENDALL E GA 59,355.10 11.650 0.000
10266116140 VU BICK T CA 39,658.29 12.600 0.000
10266117814 KABELOWSKY BRIAN A WI 20,000.00 13.600 0.000
10266118366 SMITH CRAWFORD A III MI 33,270.48 11.900 0.000
10266120526 BELCHER MILTON DON JR CO 35,000.00 11.650 0.000
10266120588 CARPIO RUSSELL J WA 22,313.72 12.200 0.000
10266121380 SCOTT EDNA E NV 52,475.53 12.700 0.000
10266123360 DAVIS LAWRENCE E MI 37,176.59 9.750 0.000
10266123557 REYNOLDS YVONNE MI 14,900.00 14.500 0.000
10266123560 ROSE HAROLD T MI 47,742.92 10.750 0.000
10266124083 ANDERSON EMILY IL 25,000.00 13.990 0.000
10266125380 CONCI MIKE CO 35,000.00 10.000 0.000
10266125752 PARSONS WALTER IN 60,900.00 12.490 0.000
10266125814 LESLIE AL H IL 55,500.00 13.390 0.000
10266126033 MAKULA CARL A JR NY 49,951.60 13.450 0.000
10266126237 MCFETRIDGE TERRY GENE IN 49,196.75 11.750 0.000
10266126607 YOUNG LOGAN MOO NY 104,000.00 11.100 0.000
10266126907 CONWAY ROBERT R JR DE 11,884.00 11.990 0.000
10266127027 SCHNITZ JAMES R IN 34,400.00 13.750 0.000
10266127152 REED WILLIAM R IL 75,000.00 11.600 0.000
10266127282 LLANOS VICTOR NY 151,200.00 11.990 0.000
10266127290 DOYLE JOHN P IL 171,000.00 11.250 0.000
10266127324 GRAY JEAN ANN IN 23,800.00 10.500 0.000
10266127625 WHITNEY RUSSELL E IN 15,500.00 11.000 0.000
10266127767 MOORE JAMES H JR IN 12,200.00 12.750 0.000
10266127825 ABBE SYD NY 172,500.00 12.300 0.000
10266127864 ROSE DEANGELO SR IN 54,373.45 10.990 0.000
10266127887 NICHOLS ISADORE IL 23,200.00 12.990 0.000
10266127964 ONEAL PATSY D CO 41,200.00 11.950 0.000
10266128229 HINKLE RITA G IL 35,000.00 11.100 0.000
10266128539 BEARDEN CHARLES E GA 80,746.37 11.350 0.000
10266129013 PARKER JOHN WILLIAM OR 49,500.00 13.000 0.000
10266129224 GILBERT DAVID L UT 16,128.00 12.250 0.000
10266129228 EARLE NATALIE B UT 29,012.00 11.750 0.000
10266129322 METRO PROPERTY ASSOCIATES CT 400,000.00 11.600 0.000
10266129752 HUNTER RICHARD SCOTT UT 78,830.00 12.850 0.000
10266129868 RIGGS LEZLIE V CO 76,500.00 10.150 0.000
10266130117 CHAGNON MICHAEL A CO 20,550.00 11.400 0.000
10266130299 WILSON ERIC D CO 20,000.00 13.990 0.000
10266130579 MCCARTER JENNY LYNN UT 17,926.01 14.800 0.000
10266130983 MARKWORTH CARL G UT 18,378.00 12.700 0.000
10266131141 DAVIS DENNIS K UT 22,900.00 12.950 0.000
10266131152 HALL TRACY E UT 18,153.00 12.800 0.000
10266131376 SHREWSBURY DANIEL C UT 53,200.00 13.590 0.000
- ----------- ------------ ------ -----
Loans tagged for 2nd Subsequent Transfer 2,491,387.50 11.910 0.000
10266112506 COLLYMORE JOHN NY 143,939.52 13.400 0.000
10266115396 PACIFICO SILVIO NY 48,382.44 11.000 0.000
10266118154 HUSARICK RICHARD L OH 171,902.51 11.100 0.000
10266119879 IMBRIE CAMILLE A IL 191,250.00 11.500 0.000
10266119978 AUCHER PIERRE M WA 119,500.00 11.250 0.000
10266120268 MOORE JESSIE J MI 22,714.97 11.350 0.000
10266120280 VENUTO ANTHONY P OH 150,000.00 10.990 0.000
10266121234 GOLDSTEIN COREY IL 54,900.00 10.750 0.000
10266121909 GUERRERO SERAFIN IL 73,600.00 13.700 0.000
10266122584 LUNA JOHNNY D NM 15,957.00 15.000 0.000
10266122755 JEFFERSON ELMER M DE 29,895.66 11.750 0.000
10266123614 JORDON MONICA NY 40,500.00 13.850 0.000
10266123832 BICKLEY ANDREW A NM 30,670.00 12.750 0.000
10266124319 VERMA DIANE MD 64,800.00 13.490 0.000
10266124370 ALAVI ROYA CO 28,000.00 11.750 0.000
10266125287 PAWLAK DANIEL J NJ 214,300.00 10.750 0.000
10266125820 GOODMAN WILLIAM IL 80,000.00 10.990 0.000
<PAGE>
ALLIANCE FUNDING COMPANY
A division of Superior Bank FSB
Loans Funded and Available for Sale to 1996-3 as of 9/20/96
Current Note
Account Name State Principal Rate Margin
- --------------------------------------------------------------------------------
10266129214 HOSSLER MICHAEL L CO 23,800.00 11.500 0.000
10266129222 ELLSWORTH RANDY J UT 73,700.00 11.500 0.000
10266129306 GONZALEZ JOSE L MD 42,740.00 10.990 0.000
10266129318 HULSE EDWARD J JR FL 301,000.00 11.250 0.000
10266129321 HICKMAN STEVE W UT 35,000.00 12.500 0.000
10266129328 BANKS ROY D UT 30,000.00 10.500 0.000
10266129329 REGIER DARYL J CO 33,500.00 13.250 0.000
10266129359 WEIGEN JON A AZ 19,500.00 12.250 0.000
10266129397 MORRISON RICK S UT 13,500.00 15.750 0.000
10266129410 GORDON CARMEN CO 22,880.00 11.750 0.000
10266129482 CAULDER JAMES BRADFORD FL 56,950.00 12.490 0.000
10266129486 BIRTCH RICHARD T FL 11,385.00 11.400 0.000
10266129517 THOMPSON HOLLIS LARELL UT 26,670.64 12.900 0.000
10266129590 HIGHSMITH ROBERT C FL 19,400.00 12.990 0.000
10266129594 FOSTER SUSIE MAE PA 32,000.00 11.250 0.000
10266129622 DECRUZ CATALINA CEBALLOS FL 25,000.00 10.990 0.000
10266129628 RAMSEYER JEFFREY L OR 44,000.00 11.750 0.000
10266129632 THOMPSON EDWARD G CO 51,000.00 11.500 0.000
10266129663 MOON THOMAS A FL 28,500.00 12.900 0.000
10266129673 MAGUIRE KEVIN D WA 30,745.00 12.250 0.000
10266129720 HANSEN BRAD H UT 25,000.00 11.750 0.000
10266129756 EVANS DOUGLAS W UT 59,139.00 12.900 0.000
10266129760 CLAUDAT EDWARD F FL 129,600.00 10.990 0.000
10266129773 ONOFRIETTO VICTOR G CA 272,000.00 12.750 0.000
10266129778 YORK JAMES L JR NV 17,259.00 12.250 0.000
10266129781 RIGGINS CURTIS WA 154,700.00 13.750 0.000
10266129803 KOLP MARK IL 20,400.00 12.250 0.000
10266129871 MOLINA RENE A AZ 53,900.00 11.100 0.000
10266129920 BENNETT RANDY L UT 17,747.00 15.590 0.000
10266129922 MCAFFEE EDWARD B UT 54,700.00 13.950 0.000
10266129923 CUMMINGS MICHAEL R UT 14,025.09 12.900 0.000
10266129927 PRICE RICHARD JAMES UT 29,000.00 14.350 0.000
10266129929 HODGES DONALD L UT 40,000.00 12.600 0.000
10266129931 TANNENBAUM STEPHAN K CO 35,000.00 11.950 0.000
10266129932 PERKINS CLIFFORD ALAN CO 18,000.00 14.500 0.000
10266129945 JACOBS LOUIS H JR CO 33,829.00 14.250 0.000
10266129985 SMITH JR ERNEST OH 20,400.00 9.400 0.000
10266130102 FREUDENSTEIN ROGER L FL 34,500.00 12.200 0.000
10266130168 ALLEN ROBERT M CO 81,000.00 9.850 0.000
10266130176 MELLENBRUCH CARRIE NM 100,000.00 10.700 0.000
10266130182 MESEC RICHARD R CO 99,750.00 12.700 0.000
10266130219 HOFMANN THOMAS J FL 32,000.00 11.200 0.000
10266130220 SMITH JOAN FL 23,400.00 10.650 0.000
10266130300 RENO RANDY W CO 30,000.00 12.700 0.000
10266130372 ACKERMAN JOHN C PA 67,500.00 11.400 0.000
10266130383 WILBANKS SHERESA L CO 142,800.00 12.200 0.000
10266130434 MASSEY LEON FL 54,400.00 9.850 0.000
10266130448 CHAPMAN RICHARD S UT 79,300.00 10.950 0.000
10266130450 LYNCH WAYNE P UT 21,400.00 12.900 0.000
10266130451 MEZA DANIELLE J CO 117,800.00 10.900 0.000
10266130456 BAIRD SUSAN S UT 19,000.00 13.850 0.000
10266130573 STRONG LARRY H UT 19,100.00 13.450 0.000
10266130581 JACOBSON PAUL K UT 12,497.00 13.700 0.000
10266130585 BARTON DAVID H UT 21,639.00 12.600 0.000
10266130586 CANNON CLIFFORD M UT 18,500.00 13.450 0.000
10266130608 JONES PORTIA MARIA PA 25,000.00 12.750 0.000
10266130648 EARLE DANIEL IN 37,900.00 12.250 0.000
10266130887 MCCUTCHEON CHRISTOPHER R PA 72,000.00 11.200 0.000
10266130916 HARPER MICHAEL C UT 29,725.00 14.090 0.000
10266131438 DOWNS JAMES F CO 89,925.00 9.600 0.000
- ----------- ------------- ------ -----
Loans tagged for 1st Subsequent Transfer 25,095,582.50 11.684 0.000
10266112872 ROBERTS WARREN J IN 26,865.69 10.240 0.000
<PAGE>
ALLIANCE FUNDING COMPANY
A division of Superior Bank FSB
Loans Funded and Available for Sale to 1996-3 as of 9/20/96
Current Note
Account Name State Principal Rate Margin
- --------------------------------------------------------------------------------
10266125978 JOHNSON JOHN R AZ 33,066.00 13.250 0.000
10266126212 WATKINS JOHN L IL 84,500.00 11.500 0.000
10266126222 GILLUM IRMA JEAN MI 27,000.00 12.750 0.000
10266126301 BAYEUR GLENN NY 38,680.89 12.700 0.000
10266126348 WEBBER HARRY E CO 42,100.00 11.500 0.000
10266126382 BURLESON MICHAEL D OH 40,000.00 13.750 0.000
10266126385 UGLEAN MARY MI 19,958.51 9.250 0.000
10266126704 MILLER MICHAEL D IN 48,300.00 11.990 0.000
10266126783 MOORE BARRY BLAINE WA 26,758.00 13.250 0.000
10266126862 GOLOVEN SCOTT L IL 28,500.00 13.490 0.000
10266126916 DELPERDANG MELVIN N JR OR 56,000.00 13.000 0.000
10266127024 DURNAL ELEZA G IN 19,000.00 14.250 0.000
10266127206 SIMMONS BERNARD M CA 73,658.00 12.750 0.000
10266127305 MROCKA EUGENE M MI 50,000.00 14.750 0.000
10266127583 KEYS LUCIUS IL 25,000.00 11.750 0.000
10266127659 ADAMIDIUS ANASTASIA NY 145,000.00 10.990 0.000
10266127712 MOSER CRAIG L OR 11,218.00 11.000 0.000
10266127821 ORICHIO NICHOLAS NJ 14,967.78 11.990 0.000
10266127928 GARNER CRAIG UT 12,000.00 13.700 0.000
10266127981 LINN LILLIE A MD 182,095.73 10.500 0.000
10266128025 CALDWELL ROBERT A AZ 40,822.00 12.250 0.000
10266128059 GANTNER SHERRI A OH 56,500.00 12.750 0.000
10266128068 SOBH FADI MI 72,000.00 10.000 0.000
10266128080 BOYER JR BILL W IN 38,500.00 12.250 0.000
10266128225 SOBCZAK RICHARD W IN 31,000.00 12.000 0.000
10266128376 ABRAMOWITZ STEVEN CO 53,000.00 11.750 0.000
10266128411 CUMMINGS LORISTENE IL 40,000.00 10.000 0.000
10266128575 ELROD JR GEORGE IL 36,500.00 12.000 0.000
10266128593 NEAL KEVIN OH 88,200.00 11.450 0.000
10266128612 AKERS MICHAEL D MD 79,625.00 14.990 0.000
10266128657 SORRENTI JULIUS A AZ 82,500.00 11.750 0.000
10266128752 BYKOWSKI RAYMOND A IL 48,100.00 10.000 0.000
10266128794 SOUDERS SHANE PA 42,500.00 9.850 0.000
10266128895 TALBOT RYAN K UT 73,520.00 12.250 0.000
10266128908 HOPKINS DONALD F AZ 99,000.00 11.150 0.000
10266128936 SCHUMACHER DONALD F MI 81,000.00 11.750 0.000
10266129015 SOMMER STEVEN N UT 13,500.00 11.000 0.000
10266129197 SCHMER RICHARD D CO 50,500.00 12.500 0.000
10266129267 PRATHER KATHLEEN MI 103,200.00 13.750 0.000
10266129425 DELLACROCE ANTOINETTE F IL 55,000.00 10.750 0.000
10266129458 CLARK ROBBIN S IN 42,700.00 14.250 0.000
10266129539 LARSON BRADLEY E CA 49,470.00 11.750 0.000
10266129544 MANNING MICHAEL E IL 71,500.00 11.100 0.000
10266129557 GIPSON CHRISTOPHER IL 80,100.00 11.750 0.000
10266129589 HODGMAN JOHN A IL 139,700.00 12.300 0.000
10266129682 PAGLIERO MARC D NV 114,750.00 12.740 0.000
10266129724 RICHINS WILLIAM CURTIS UT 68,000.00 13.000 0.000
10266129764 SMITH JEROME A IL 102,000.00 12.990 0.000
10266129804 SUMLER HESTER IL 65,400.00 10.750 0.000
10266129837 DURDEN KATHLEEN A MI 59,400.00 11.750 0.000
10266129921 JURADO CARLOS IL 75,000.00 11.600 0.000
10266129930 LANE MICHELE L UT 39,140.00 12.200 0.000
10266129944 LOVE CHARLES CO 18,764.00 10.400 0.000
10266130020 HOY DAVID E VAN WA 36,000.00 13.250 0.000
10266130049 TAIT TERESA L WA 34,720.00 12.700 0.000
10266130089 LADUC KURT J MI 48,000.00 11.990 0.000
10266130155 STRINGFELLOW ROBERT J UT 49,975.00 13,450 0.000
10266130184 CHAVEZ CANDY GLENN CO 68,750.00 14.000 0.000
10266130210 GRAVES JOHN S IN 22,000.00 12.750 0.000
10266130347 MCBEE RALPH IN 89,200.00 12.500 0.000
10266130478 FOY RICKIE IL 99,000.00 10.650 0.000
10266130794 CZARNEK TIMOTHY J CO 50,000.00 9.900 0.000
10266130827 MCBRIEN ENZA IL 23,700.00 12.250 0.000
<PAGE>
ALLIANCE FUNDING COMPANY
A division of Superior Bank FSB
Loans Funded and Available for Sale to 1996-3 as of 9/20/96
Current Note
Account Name State Principal Rate Margin
- --------------------------------------------------------------------------------
10266130837 AL-MAAREJ MOHAMED MI 44,000.00 10.600 0.000
10266130935 SPANN LESLIE N IL 10,800.00 12.750 0.000
10268000054 CHICK KIMBERLY CT 47,407.80 10.400 0.000
10268000069 FORD CHRISTOPHER C NY 55,000.00 12.950 0.000
10268000106 SHOWLER ROBERT W NY 95,400.00 11.000 0.000
10268000131 BIRCH STEPHEN G CT 76,000.00 12.150 0.000
10268000139 HEANG BEN LY NJ 70,000.00 10.990 0.000
10268000144 GALANTE LUCA NY 120,000.00 9.050 0.000
10268000148 FERRARO JOLIE L NY 95,460.03 11.750 0.000
10268000162 BOUVIER ARTHUR L JR CT 24,828.51 11.750 0.000
10268000185 JASON RICK NY 59,800.00 10.450 0.000
10268000189 BERARDI DONATO M NJ 39,000.00 11.490 0.000
10268000214 ESSLING WILLIAM J NY 56,400.00 11.750 0.000
10268000220 LEICHSENRING HANS W CT 69,940.26 11.900 0.000
10268000233 GERKEN FRANK NY 50,000.00 10.750 0.000
10268000246 NAM KYI JA NY 55,000.00 10.400 0.000
10268000256 JOHNSON JAMES F MD 37,250.00 12.250 0.000
10268000260 ALTINTAS NATAN MD 28,000.00 15.000 0.000
10268000265 BROWN EDWARD NY 154,800.00 11.450 0.000
10268000270 EYASSU AMARE DC 34,500.00 13.150 0.000
10268000279 COLE THELMA R MD 12,580.87 13.500 0.000
10268000291 FRANCIS PAULINE NY 189,000.00 12.250 0.000
10268000295 CAMPANARO KEVIN M NY 91,125.00 11.250 0.000
10268000330 HANDZLIK LAWRENCE NY 84,000.00 11.250 0.000
10268000340 ALLGAIER CLIFFORD D NY 96,750.00 13.500 0.000
10268000387 ALLEN FITZROY NY 171,000.00 11.750 0.000
10268000391 MALCHI ELI NY 37,800.00 12.750 0.000
10268000408 BARRETT DENNIS NY 56,500.00 12.450 0.000
10268000409 FRENDAK PAUL J NY 36,000.00 11.750 0.000
10268000418 SPENCE DELMORE W CT 76,700.00 11.950 0.000
10268000424 ALBRECHT STEVEN CT 64,000.00 12.000 0.000
10268000467 KATRAKAZOS ANGELO NY 53,000.00 12.500 0.000
10268000493 RITCHIE KEVIN J CT 126,000.00 11.000 0.000
10268000511 THORPE PETER J CT 215,954.72 10.700 0.000
10268000526 BURRELL LISA ANN GA 88,000.00 10.950 0.000
10268000534 STEVENS MINDY NY 25,000.00 12.490 0.000
10268000535 JAHBAL CHELLA NY 126,000.00 11.450 0.000
10268000537 BROWN RIDLEY J CT 124,777.24 12.700 0.000
10268000545 SECOLA JOSEPH P CT 39,800.00 12.400 0.000
10268000569 LONG JACK L PA 67,500.00 11.750 0.000
10268000577 FITZULA FREDRICK NY 104,350.00 10.200 0.000
10268000582 MOORE JEANNETTE M NY 18,000.00 11.500 0.000
10268000584 WASHINGTON SYLVESTER NY 99,000.00 11.450 0.000
10268000609 MILLER TIMOTHY J MA 54,500.00 12.500 0.000
10268000656 RICHARDS VERNA M NY 135,000.00 11.000 0.000
10268000664 MOHAN DEODAT NY 57,500.00 12.500 0.000
10268000669 CHENG KUO FENG GA 25,000.00 13.250 0.000
10268000714 EMMONS ROBERT N RI 23,200.00 12.350 0.000
10268000715 FONSECA MANUEL P CT 19,500.00 11.000 0.000
10268000718 GHEZZI RICHARD J NY 19,100.00 11.740 0.000
10268000721 DAUTI DASHURIE CT 40,700.00 12.890 0.000
10268000734 MOYSEY RAE ANNE NY 20,500.00 12.500 0.000
10268000796 CARROLL SHIRLEY NY 223,200.00 12.450 0.000
10268000838 BERTRANI MICHAEL NY 40,000.00 11.850 0.000
10268000845 LIND DAVID E NY 20,000.00 11.500 0.000
10268000905 RUBBO VINCENT NY 32,250.00 10.300 0.000
10268000933 MELDISH MICHAEL NY 67,000.00 13.350 0.000
10268000950 LAURITANO GARY NY 25,000.00 12.999 0.000
10268000962 RALEIGH MICHAEL K NY 35,000.00 11.150 0.000
10268001009 TODD RONALD J CT 28,700.00 11.500 0.000
10268001123 CERAVONE KATHLEEN A CT 28,600.00 13.850 0.000
10268001183 CHENG HSUEH NY 24,000.00 13.100 0.000
10268001279 CIACCIARELLA JOHN CT 105,000.00 10.650 0.000
<PAGE>
ALLIANCE FUNDING COMPANY
A division of Superior Bank FSB6
Loans Funded and Available for Sale to 1 9~3 as of 9/20/96
Current Note
Account Name State Principal Rate Margin
- --------------------------------------------------------------------------------
10268001303 WATERS BRENDA J MD 17,400.00 12.150 0.000
10268001419 HULKOWER JACQUELINE NY 45,000.00 11.400 0.000
10268001553 STEVENSON THOMAS W CT 73,000.00 13.000 0.000
10268001663 FONSECA MANUEL P CT 25,000.00 11.000 0.000
- ----------- ------------ ------ -----
Loans in Servicing not yet tagged for sale 9,500,925.44 11.815 0.000
10266100907 COLLIER ERNESTINE IL 259,000.00 12.100 0.000
10266118232 CANUPP OTIS C AZ 25,400.00 13.900 0.000
10266120876 HIRSCH YAEL NY 40,136.00 12.950 0.000
10266121270 ALLEN CRYSTAL MI 38,300.00 12.000 0.000
10266121304 SCOTT NEOLA Z NY 120,750.00 12.300 0.000
10266122100 ABEYKOON AJITH K NY 93,750.00 9.990 0.000
10266122124 LAX SAMUEL NY 30,000.00 14.690 0.000
10266122143 WILLIAMS EMMANUEL NY 206,000.00 14.750 0.000
10266122200 KAYSER JOSEPH NJ 36,000.00 11.500 0.000
10266122268 RAPOZA PAUL R MA 20,500.00 12.000 0.000
10266122373 GILFOY DARRYL SCOTT PA 44,800.00 12.250 0.000
10266122436 GERARDINO JAIRO L NJ 20,150.00 9.750 0.000
10266122760 CHALET ELIAS NJ 167,000.00 10.300 0.000
10266122838 ROSSINI ALBERT IL 444,500.00 14.150 0.000
10266123083 FORLEITER STEVEN NJ 29,100.00 12.250 0.000
10266123315 LEAVY THOMAS J NJ 29,000.00 12.750 0.000
10266123758 CAESAR JULIUS A NJ 91,500.00 12.750 0.000
10266123816 MARAGH SURJENA CT 84,000.00 10.990 0.000
10266123909 MARION DIEDRIE NY 122,400.00 13.490 0.000
10266124154 MOORE MELVIN NY 152,150.00 12.000 0.000
10266124221 HARPER PAUL E WA 12,500.00 10.950 0.000
10266124540 BOURELL DUANE M UT 19,000.00 11.950 0.000
10266124837 GALLO KATHLEEN A CT 153,000.00 11.700 0.000
10266124878 CUMMINGS JULIAN W AZ 13,370.00 12.900 0.000
10266125149 ESHEL OFER NY 148,000.00 10.250 0.000
10266125181 SLOAN ROBERT LEE MD 23,000.00 11.700 0.000
10266125198 TAYLOR VERA J PA 12,650.00 11.990 0.000
10266125247 MELENUDO NICKY JOE AZ 15,400.00 15.590 0.000
10266125255 NEWELL WILLIAM S OR 71,145.00 13.200 0.000
10266125280 BOWERS JASON B UT 16,400.00 11.350 0.000
10266125353 BLASINI STEVEN M NY 204,750.00 10.990 0.000
10266125379 KNIGHTON ISAAC C PA 29,700.00 11.500 0.000
10266125390 LEBENS ENGLUND JUDITH RAE WA 33,000.00 12.490 0.000
10266125519 BYNOWE RICHARD NY 176,000.00 13.250 0.000
10266125574 MELLON SR JOSEPH F PA 116,000.00 12.990 0.000
10266125604 ENSALATA VICTOR NY 53,240.00 10.250 0.000
10266125610 QUAYLE MICHAEL C FL 10,000.00 13.750 0.000
10266125641 QUINTANA DEBRA UT 41,500.00 13.590 0.000
10266125916 ILLIANO GENNARO DE 17,300.00 12.740 0.000
10266125939 GREATSINGER PHILLIP M CT 20,000.00 11.900 0.000
10266126110 MOLLOY DIANE PA 105,000.00 11.500 0.000
10266126127 DUBLIN TREVOR NY 105,000.00 11.990 0.000
10266126194 VAIRO FRANK L AZ 40,500.00 11.950 0.000
10266126275 FREEMAN RICHARD L PA 101,150.00 12.240 0.000
10266126338 REGINA DAVID L PA 22,400.00 11.500 0.000
10266126477 GARCIA SAMMY NM 20,420.00 12.250 0.000
10266126606 SCISCIANI MICHAEL PA 35,600.00 9.650 0.000
10266126696 VIEAU MARK L. WI 32,500.00 12.750 0.000
10266126741 BREIDENSTEIN PAMELA S NY 29,750.00 11.200 0.000
10266126896 KNAPP JOHN CT 22,150.00 12.750 0.000
10266126939 LINSE KENIETH WA 14,700.00 12.750 0.000
10266127056 SCHAFFNER JOHN C PA 67,000.00 12.500 0.000
10266127087 DOUYON ANDRE L CA 73,000.00 12.375 0.000
10266127265 PHILLIPS JAMES R NC 31,700.00 10.700 0.000
10266127517 KOVAL JR JOHN E DE 24,000.00 11.200 0.000
10266127536 CHAVEZ JOSE DAVID UT 26,000.00 14.200 0.000
10266127544 25 MAIN ST INC NY 217,750.00 11.750 0.000
<PAGE>
ALLIANCE FUNDING COMPANY
A division of Superior Bank FSB
Loans Funded and Available for Sale to 1996-3 as of 9/20/96
Current Note
Account Name State Principal Rate Margin
- --------------------------------------------------------------------------------
10266127679 SMITH STEVEN L UT 26,000.00 11.900 0.000
10266127718 ROSE TERRY M WA 41,700.00 12.250 0.000
10266127740 HAMER SHARON CRUMBLEY IL 139,900.00 13.750 0.000
10266127822 LILLY JEFFREY A PA 68,000.00 12.500 0.000
10266127868 MUNDT BOB V CO 42,090.00 11.750 0.000
10266127920 VAGNINI DANIEL P CT 43,800.00 12.250 0.000
10266127942 PUKAS DAVID M PA 17,500.00 11.400 0.000
10266127966 TULIO JOSEPH PA 68,800.00 10.990 0.000
10266127971 BLACKBURN WAYNE VA 74,800.00 11.990 0.000
10266127974 GRAHAM WARREN H MD 27,000.00 13.250 0.000
10266128001 JONES KENNETH L UT 52,300.00 13.500 0.000
10266128027 MERINO CUCA L AZ 23,505.00 13.350 0.000
10266128129 NISSIM YONA MD 307,520.00 10.700 0.000
10266128230 RADYSH GEORGE J. IL 40,000.00 10.500 0.000
10266128262 WEINSTEIN JAMES L PA 25,865.00 13.500 0.000
10266128450 GILLILAND MARTHA T VA 69,600.00 11.500 0.000
10266128515 PARISI FRANK M CT 17,500.00 10.900 0.000
10266128525 ALMGREN WILLIAM R PA 60,000.00 10.990 0.000
10266128541 SALISBURY GARY E UT 43,000.00 15.990 0.000
10266128543 TELFORD EDWARD B UT 18,000.00 13.500 0.000
10266128581 GRYGA ANTHONY IL 22,000.00 10.750 0.000
10266128583 PURPURA JOSEPH F IL 48,900.00 10.990 0.000
10266128603 MONTGOMERY FRANCIS E PA 27,200.00 13.990 0.000
10266128614 ALSTON CLARENCE MD 73,000.00 12.240 0.000
10266128621 LOVE ROBERT F CO 59,893.00 12.750 0.000
10266128652 CARPENTER STEPHEN M AZ 20,000.00 13.250 0.000
10266128694 JACOBSON TRAVIS W UT 27,200.00 13.300 0.000
10266128699 MALLON STEPHEN JAMES JR MD 91,340.00 11.700 0.000
10266128700 PRINTY JAMES R UT 48,170.00 12.900 0.000
10266128764 ALLEN WALTER F. OH 65,700.00 11.750 0.000
10266128777 OWENS DENNIS M NC 15,451.00 12.450 0.000
10266128804 MAZZELLA ANTHONY C PA 128,000.00 11.250 0.000
10266128824 SALADINO DEBORAH ANN NY 21,700.00 12.750 0.000
10266128839 TOLMAN IAN UT 30,800.00 13.250 0.000
10266128841 TAYLOR LENYORK CT 24,000.00 12.250 0.000
10266128844 HOFFMAN JOHN C UT 29,665.00 14.550 0.000
10266128872 MAXWELL DAVID G UT 38,945.00 12.950 0.000
10266128881 SHELLEY ROGER S AZ 15,000.00 12.250 0.000
10266128939 SIPE MERRY C. MN 29,000.00 13.250 0.000
10266128963 MADEJ MARYANN H MD 47,900.00 12.250 0.000
10266128993 PALMER GEORGE M JR FL 41,900.00 12.990 0.000
10266129016 PARRISH WILLIAM S MD 59,000.00 12.740 0.000
10266129039 WAGNER CHRISTOPHER J PA 24,720.00 10.750 0.000
10266129052 SPRANG PHILIP WA 37,160.00 13.500 0.000
10266129078 WATERS PAULETTE PA 36,000.00 10.740 0.000
10266129117 BEARDSLEY DONNA E AZ 30,000.00 11.250 0.000
10266129119 TRIESCHMAN ELMER W JR MD 26,500.00 11.950 0.000
10266129159 CROMARTIE LEO NC 12,350.00 9.450 0.000
10266129205 ANDERSON MITCHEL C CO 103,000.00 12.750 0.000
10266129232 WALDEN WEARICA NY 136,000.00 9.850 0.000
10266129292 NAILOS PAUL M FL 79,200.00 10.500 0.000
10266129312 NOVY BEVERLY TERHUNE NY 155,700.00 10.950 0.000
10266129333 BOIANOFF AFANASII S OR 40,207.00 12.250 0.000
10266129369 RHOADES DALE F FL 30,000.00 10.500 0.000
10266129430 O'CONNOR MARK C. IN 40,500.00 11.550 0.000
10266129492 ROBERTSON TIMOTHY D OR 59,000.00 12.750 0.000
10266129527 HARVEY THELMA FL 20,000.00 11.900 0.000
10266129570 PRINCELL WINSTON IL 15,300.00 10.750 0.000
10266129595 JONES TERRY L FL 28,000.00 10.850 0.000
10266129597 IACOBACCI MICHAEL B PA 65,000.00 11.050 0.000
10266129613 SHULTZ MICHAEL JOHN FL 72,800.00 10.700 0.000
10266129638 MERCIER MICHAEL J WA 22,156.00 11.200 0.000
10266129647 DOUGHERTY JEFFERY B CA 127,080.00 11.875 0.000
<PAGE>
ALLIANCE FUNDING COMPANY
A division of Superior Bank FSB
Loans Funded and Available for Sale to 1996-3 as of 9/20/96
Current Note
Account Name State Principal Rate Margin
- --------------------------------------------------------------------------------
10266129692 HUTCHINS MICHAEL J UT 15,000.00 15.000 0.000
10266129757 COLBY III ORRIN TETHER UT 43,000.00 12.900 0.000
10266129788 BELCHER DONALD L OH 37,000.00 10.500 0.000
10266129799 SCIALABBA JOSEPH J. IL 45,000.00 10.000 0.000
10266129819 HELLER RICHARD ANTHONY IL 27,500.00 12.250 0.000
10266129822 MCCLINTON MAGGIE IL 60,000.00 10.000 0.000
10266129831 HODZIC SKENDER MI 126,000.00 11.750 0.000
10266129905 OZGA ADAM NJ 42,000.00 11.350 0.000
10266129907 GREEN ALBERT F CO 25,000.00 14.000 0.000
10266129937 VINCENT AMMIE M CO 33,000.00 11.100 0.000
10266129941 BARTON RICHARD A UT 33,100.00 11.950 0.000
10266129963 ADKINS MOTIC L. MI 25,900.00 11.750 0.000
10266129965 CARBONARO JOHN J. IL 25,000.00 10.250 0.000
10266130022 BROWN RUTH D MD 85,900.00 9.250 0.000
10266130061 BARRETT SHIRLEY ANNE CO 53,211.00 12.500 0.000
10266130087 STANFA ILENE A. IL 22,600.00 11.500 0.000
10266130110 STONE BARBARA FL 36,000.00 9.900 0.000
10266130116 BOOTHE JOHN R NC 71,300.00 9.500 0.000
10266130209 SINISHTAJ LUIGI MI 90,000.00 11.750 0.000
10266130256 SOLETTO MICHAEL G FL 44,000.00 11.500 0.000
10266130282 SERVOCKY JOSEPH N PA 65,600.00 12.850 0.000
10266130293 ROBINSON JAMES W CO 14,000.00 12.700 0.000
10266130351 WYNN JOHN IN 67,900.00 9.650 0.000
10266130377 LAGRECA ANTHONY FL 41,250.00 11.350 0.000
10266130384 FREDERICK CHRISTOPHER J OR 28,000.00 13.750 0.000
10266130397 GATEHOUSE LOIS THOMPSON CA 34,000.00 11.200 0.000
10266130403 VINSON LISA M FL 25,000.00 11.000 0.000
10266130462 HINKLE CRAIG S OR 51,238.00 11.750 0.000
10266130470 KELLER JEFFREY S. IL 63,000.00 12.000 0.000
10266130508 REDWINE DANNY FL 40,950.00 9.900 0.000
10266130561 LANDRETH CINDI K WA 20,500.00 11.200 0.000
10266130569 HONE JEFFERY L UT 15,814.00 15.190 0.000
10266130572 HIDALGO G DEAN UT 89,927.00 15.100 0.000
10266130577 HOPKINS DONALD F AZ 75,600.00 9.400 0.000
10266130646 COLE MICHAEL K. OH 117,600.00 10.240 0.000
10266130647 HATCHER SAMUEL IN 58,400.00 11.750 0.000
10266130744 LEISER JOHN PAUL UT 18,500.00 12.900 0.000
10266130776 SMITH NOREL UT 11,000.00 11.900 0.000
10266130813 STONE ROY EARL CA 21,858.00 13.250 0.000
10266130849 ABDALLAH ATWI MI 80,700.00 8.375 0.000
10266130865 DAWKINS C WAYNE NC 45,900.00 11.450 0.000
10266130914 JACKMAN DALE 0 UT 29,000.00 12.900 0.000
10266130943 MITCHELL LYNN D. MI 56,000.00 9.125 0.000
10266130955 IRIZARRY ELENA FL 48,500.00 11.750 0.000
10266130957 HARTMANN JAMES W FL 55,200.00 12.990 0.000
10266130980 YOUNG DAVID J UT 21,900.00 12.200 0.000
10266130981 HOFFER FRANK J MI 93,600.00 8.875 0.000
10266130982 HARMSTON TRENT C UT 17,383.00 14.950 0.000
10266131049 GARRETT JOHN MAX CA 214,200.00 11.375 0.000
10266131133 BOWEN DIANE FL 64,800.00 10.500 0.000
10266131158 KOCH KARL JOHN CO 94,500.00 12.750 0.000
10266131265 MOUNT JAMES H FL 39,900.00 10.500 0.000
10266131266 BUTTERFIELD DARREN UT 14,000.00 15.850 0.000
10266131267 BELCHER DEE A UT 46,410.00 12.900 0.000
10266131269 DEFA CHAD A UT 15,774.00 14.350 0.000
10266131281 PASICK KATHLEEN J FL 43,950.00 10.950 0.000
10266131333 MARONEY ROBERT A. IL 35,800.00 12.740 0.000
10266131343 KLEIN KERRY L. WI 108,000.00 11.450 0.000
10266131353 VAN PELT MICHAEL IN 29,600.00 12.250 0.000
10266131359 PRIGAL K KENNETH B FL 97,750.00 9.600 0.000
10266131361 DITMORE RONALD L PA 61,000.00 10.650 0.000
10266131403 SAMPSON GARY UT 23,000.00 13.350 0.000
10266131487 HUGHES RICKEY DALHART UT 39,596.00 13.150 0.000
<PAGE>
ALLIANCE FUNDING COMPANY
A division of Superior Bank FSB
Loans Funded and Available for Sale to 1996-3 as of 9/20/96
Current Note
Account Name State Principal Rate Margin
- --------------------------------------------------------------------------------
10266131579 PERE VALENTIN R IL 215,000.00 11.250 0.000
10268000026 WRATNY WILLIAM NY 35,000.00 10.450 0.000
10268000420 BLISS CLAUDIA A RI 16,300.00 12.750 0.000
10268000993 BARRETT WILLARD W NY 31,450.00 11.600 0.000
10268001011 KALEM JOSEF NJ 99,400.00 12.300 0.000
10268001068 NIGRO THOMAS NY 301,600.00 13.490 0.000
10268001215 CARP PAUL D VA 55,000.00 10.950 0.000
10268001270 DALY JOHN J PA 30,100.00 11.700 0.000
10268001366 GRAYER PHILIP NJ 91,000.00 14.350 0.000
10268001709 SANTOS ANTHONY B CT 63,000.00 10.700 0.000
10268001714 SHAW JR GEORGE A MD 37,000.00 10.950 0.000
- ----------- ------------- ------ -----
Loans Funded and not yet in Servicing 11,691,289.00 11.911 0.000
Total Fixed Rate Loans Funded and Available 48,779,184.44 11.776
Grand Total Funded and Available 92,348,736.17 10.872
<PAGE>
ALLIANCE FUNDING COMPANY
A division of Superior Bank FSB
Loans Funded and Available for Sale to 1996-3 as of 9/20/96
Current Note
Account Name State Principal Rate Margin
- --------------------------------------------------------------------------------
CLOSED NOT FUNDED
- -----------------
10216122774 MAUGHAN LARRY UT 82,000.00 11.000 7.000
10216123187 SARKIS SHAMERAN E. IL 11,000.00 9.750 1.500
10216124444 TANIG REYNALDO V. IL 50,000.00 9.250 1.000
10216124895 KNAPP CHERYL MI 39,000.00 11.375 6.750
10216124908 PATACSIL JAMES R IL 73,000.00 9.250 1.000
10216124975 MCCORMACK PATRICIA MARIE NJ 182,750.00 11.625 7.750
10216127003 AL-HAMID HASSAN MI 51,700.00 9.625 5.750
10216128073 STEVENS DOUG C. OH 58,500.00 9.875 5.750
10216128932 WARD TROY M. OH 57,200.00 10.125 6.250
10216129273 ZWILLING RICHARD L. OH 51,800.00 10.375 6.250
10216129559 GACSY THOMAS J IN 71,200.00 9.625 6.000
10216129798 SALAK DAWN M. MN 108,900.00 9.625 5.750
10216129836 PIDD THOMAS J. MI 94,000.00 11.750 7.500
10216129978 CUTRARO ANTONINO MI 750,000.00 9.750 5.750
10216130258 WALL ROBERT W FL 96,300.00 8.625 5.000
10216130390 EGGERT THOMAS W AZ 371,000.00 9.875 6.250
10216130454 SCHULZ TERRY H AZ 297,000.00 8.375 4.500
10216130481 POWE DAVID J. MI 72,700.00 10.250 6.000
10216130486 ROOKS SAMUEL J. MI 81,000.00 9.625 5.750
10216130801 BRISTER JOSHUA T AZ 148,500.00 10.375 6.750
10216130831 SIMPSON MALCOLM MI 57,600.00 9.625 5.750
10216131972 ALTAYEB SALWA MI 43,200.00 9.875 5.750
10216132117 ABOOD SADEEM MI 48,600.00 9.875 5.750
10216132625 AL-SHAAMANI HASSAN MI 24,400.00 11.750 7.500
- ----------- ------------ ------ -----
ARM Loans Closed and not Funded 2,921,350.00 9.876 5.772
SET TO CLOSE
- ------------
10216119555 BARTLODUS THERESA NY 272,000.00 10.125 6.250
10216120023 COCINA WILLIAM J NY 100,300.00 10.625 6.750
10216120478 JORDAN SIGMUND NJ 214,400.00 11.625 8.500
10216120760 HUSON WILLARD L. IL 72,600.00 9.250 1.000
10216121022 SIMON MARTIN NJ 240,000.00 9.500 6.750
10216121539 SOTO EDWIN NJ 163,200.00 11.125 7.250
10216121752 HANSON ALFRED SR CT 134,400.00 11.625 8.500
10216122164 VOLPE RICK JR NY 233,750.00 10.125 7.750
10216122207 DOSSEY RICHARD NY 115,000.00 10.625 7.000
10216122371 CHESTER JEROME G PA 63,665.00 10.375 6.500
10216122376 YAN SUNLEANG WA 90,000.00 9.500 5.500
10216123118 LEE JAMES CT 170,000.00 9.250 6.500
10216123522 BROWN KEITH NY 320,000.00 9.875 6.250
10216123675 LAWRENCE RICHARD M UT 57,000.00 9.375 5.500
10216123753 VULPI BETTY NY 86,400.00 11.875 8.250
10216123873 SINGH SATNAM UT 82,500.00 10.375 6.500
10216124352 RIPPER MARY M NY 300,000.00 9.250 5.500
10216124355 REED SANDRA L NY 75,520.00 8.875 5.250
10216124361 PATERNA PATRICIA R CT 375,000.00 10.375 6.750
10216124694 ALTHEIM JOEL H NY 130,000.00 11.875 8.000
10216124721 LAWLER DONNA M NJ 159,800.00 11.125 7.750
10216124725 WISNEWSKI LEE R NJ 136,000.00 10.250 6.250
10216125126 MARZO SALVATORE NY 131,750.00 10.875 7.625
10216125147 MCNAUGHTON DARRIN J PA 98,000.00 11.000 7.000
10216125259 CLIFTON CHARLES ERNEST WA 126,000.00 12.125 8.250
10216125340 QUARTARARO PETER NY 108,750.00 10.875 7.000
10216125513 PETRUCCI LOUIS MD 212,500.00 9.625 6.750
10216125966 MARSH JR ALEXANDER NY 113,900.00 10.625 6.750
10216126000 BRANHAM JR JOHN H MD 87,550.00 10.125 7.250
10216126171 GRIFFITHS DAVID J UT 168,000.00 9.500 5.900
10216126341 PRISCO STEPHEN T NY 138,600.00 9.500 6.750
10216126738 PAYNE VALERIE J PA 180,000.00 8.625 6.000
10216126799 BURDEWIK PAUL N NY 176,000.00 10.875 8.000
10216126905 UPHOLD ROY L PA 92,000.00 9.375 6.000
<PAGE>
ALLIANCE FUNDING COMPANY
A division of Superior Bank FSB
Loans Funded and Available for Sale to 1996-3 as of 9/20/96
Current Note
Account Name State Principal Rate Margin
- --------------------------------------------------------------------------------
10216126959 TUTMAN RICHARD W JR MD 121,500.00 9.625 6.750
10216127031 ANDERSON FRANCES NY 56,000.00 11.875 8.250
10216127207 PACK CHARMAINE BELINDA NY 175,000.00 10.875 8.250
10216127542 JOYCE ELIZABETH M NY 216,000.00 10.875 7.000
10216127636 SMITH BRIAN NJ 84,000.00 9.625 6.750
10216127721 WILLIAMSON DUANE G WA 65,000.00 9.875 6.000
10216127794 MONTANA RITA M PA 43,500.00 9.125 5.000
10216127918 SHEIL MARTIN PETER NJ 198,400.00 9.125 5.250
10216127955 SEARS MONIQUE NJ 73,865.00 11.375 7.500
10216128168 BYRD MARGARET NY 150,000.00 12.375 7.750
10216128389 CUNNINGHAM RHONDA ALLEN NJ 288,000.00 9.625 6.000
10216128413 ROBBINS MARY JEAN IL 64,000.00 11.375 7.500
10216128442 GIZA JEANNE A PA 63,750.00 9.875 6.000
10216128670 SCIEPURA ZBIGNIEW NJ 97,750.00 11.375 7.750
10216128680 ST FLEUR MARIE NY 91,184.00 8.875 6.000
10216129063 BRANCH EARL NJ 52,200.00 10.625 7.250
10216129135 PEARSON DON B UT 166,800.00 9.125 5.500
10216129181 SHOCKER KIRK J NY 132,000.00 8.375 5.500
10216129183 DANCY DAVID S NJ 152,000.00 8.125 5.000
10216129244 SCHUSTER PAULA M. MN 46,400.00 9.875 6.000
10216129264 DULAY DELIA IL 98,100.00 8.875 5.000
10216129302 DANICO DANIEL V CT 139,500.00 9.875 5.750
10216129327 ZANAN VLADIMIR NY 441,600.00 8.625 5.000
10216129371 LOVIGLIO EILEEN L NY 240,000.00 9.875 6.250
10216129565 GOGA ROBERT T IL 13,000.00 9.750 1.500
10216129566 WRUCKE DENNIS L. IL 25,000.00 9.500 1.250
10216129754 TRIMMER DENNIS A PA 70,650.00 8.875 5.000
10216129763 CHILDS FRANK JR GA 45,000.00 10.375 6.750
10216129765 STADELWISER JOHN J AZ 82,600.00 9.875 6.250
10216129934 PILLO TIMOTHY A WA 56,250.00 7.375 3.750
10216129969 GONZALEZ FERNANDO O IL 55,000.00 9.125 5.000
10216130077 GAWRONSKI CHARLES IL 40,000.00 9.375 5.500
10216130122 BURDEN THOMAS A PA 50,000.00 9.375 6.500
10216130337 SOBH ALI A. MI 80,700.00 10.625 6.750
10216130357 KOKAS, BEVERLY D PA 97,080.00 10.125 7.000
10216130398 GREENSHEILD DAVID J AZ 155,500.00 11.125 7.500
10216130538 CASTANO JOSE F AZ 122,500.00 9.875 6.250
10216130544 MCLAUGHLIN III LUKE F PA 120,000.00 8.875 5.500
10216130574 CHRISTENSEN KEVIN K ID 58,000.00 10.875 7.250
10216130635 CUENCA JUAN IL 126,000.00 9.125 5.000
10216130671 COOPER M SCOTT AZ 148,000.00 9.125 5.250
10216130770 MATTERN JOHN S SR PA 93,500.00 10.375 6.250
10216130894 MORRISON GERALD M PA 82,800.00 10.375 6.750
10216130944 BARNES RICHARD R. MI 260,100.00 9.875 5.750
10216131033 ABANTO CASTULO CALAMAAN NV 130,900.00 9.875 6.000
10216131063 AHRENS STEVEN J IL 94,400.00 11.500 7.250
10216131069 HOFFER FRANK J. MI 93,600.00 8.875 5.000
10216131392 SHELLENBERGER TERRY PA 62,910.00 9.875 5.750
10216131585 BARNES RICHARD MI 63,700.00 8.375 4.500
10216131608 HAUGSETH WILLIAM K FL 126,000.00 9.625 5.750
10216131656 CLARY RONALD R AZ 143,395.00 10.375 6.500
10216131707 DEMBINSKI WILLARD D. IL 117,600.00 11.750 7.500
10216131748 JIMENEZ CHRISTOPHER JEFF UT 56,000.00 9.750 6.000
10216132128 SWETT CRAIG L UT 122,500.00 10.750 6.900
10216132215 GROSE DALE E OR 131,800.00 10.625 6.750
10216132623 DEITTRICK KENNETH MI 27,700.00 9.625 6.000
- ----------- ------------- ------ -----
ARM Loans Set to Close 11,433,319.00 10.035 6.423
APPROVED
10216120034 JACKSON ERLENE NY 95,000.00 10.000 7.000
10216122187 CAPOBIANCO JOSEPH NY 297,500.00 10.625 6.750
10216122536 CAMPBELL CLARISE NY 207,000.00 9.875 5.750
10216122686 NORMAN BRUCE D. MI 80,800.00 8.750 5.000
<PAGE>
ALLIANCE FUNDING COMPANY
A division of Superior Bank FSB
Loans Funded and Available for Sale to 1996-3 as of 9/20/96
Current Note
Account Name State Principal Rate Margin
- --------------------------------------------------------------------------------
10216123363 MARTIN LARRY W. IN 110,450.00 8.375 4.500
10216124689 METZGER WILLIAM G MD 153,850.00 10.875 6.750
10216124715 MAHR JOEL NJ 48,000.00 11.250 7.000
10216124998 MARIANI ERICK NY 157,500.00 10.250 6.750
10216125218 VANSCHENKBRILL ROBERT W NJ 48,750.00 9.625 6.000
10216125427 RIDLEY ANDRE NY 107,200.00 11.250 7.000
10216126101 JOHNSON SAMUEL JR NY 89,600.00 11.875 8.250
10216126357 MONAHAN JAMES NY 65,000.00 11.875 7.750
10216126510 RODRIGUEZ CHARLES NY 100,000.00 8.875 6.000
10216127119 UNDERWOOD ROSEMARY AZ 93,000.00 10.625 6.750
10216127122 CAMPOS VICTOR M AZ 51,000,00 9.375 5.500
10216127210 MCQUILLEN AUNDRA AZ 68,850.00 8.875 5.000
10216127388 VELASQUEZ ANGEL NELSON NY 88,800.00 10.875 8.250
10216127605 KASTER RONALD W. MN 30,000.00 10.250 6.000
10216127609 SAMPSON TRACY P. MI 63,000.00 8.375 4.500
10216127634 RUDE ALLEN NJ 84,500.00 12.375 7.750
10216127729 CAIN JAMES IL 30,000.00 11.375 6.750
10216128022 GALLOWAY DAVID AZ 54,880.00 10.875 7.000
10216128028 MARGOLIN MICHAEL AZ 48,750.00 10.875 7.000
10216128127 ANDRUS STEVE AZ 48,000.00 9.875 6.000
10216128375 JONES BARBARA AZ 89,600.00 12.125 8.250
10216128394 CARLSON DAVE AZ 82,500.00 10.875 7.000
10216128425 PHILLIPS CHARLES OH 41,600.00 10.375 6.250
10216128470 MIRZO CADRI NJ 69,000.00 9.625 6.750
10216128735 FASANO RICHARD NY 360,000.00 9.375 5.750
10216128795 SOTO JOSE J PA 60,830.00 8.875 5.250
10216128820 PEARCE RONALD E CO 212,500.00 9.875 6.250
10216129042 DEUEL CHRISTOPHER NM 84,000.00 8.875 5.250
10216129111 BECKER LISA NY 62,900.00 11.375 7.750
10216129233 HOWARD BERTHA J. OH 34,500.00 9.875 6.000
10216129343 MCCALL DEBRA NY 360,000.00 9.875 6.750
10216129494 NICELEY MASAKO NV 72,800.00 8.625 5.000
10216129680 GARCIA GARY CA 115,000.00 8.625 5.000
10216129772 ENRIQUES ROBERTO UT 72,000.00 8.375 4.750
10216129796 RODGERS WALLACE H. IL 44,800.00 11.375 7.500
10216130019 SZERLAG GEORGE AZ 260,100.00 11.125 7.500
10216130148 ORGAN TERRY AZ 153,000.00 10.375 6.750
10216130216 GLOVER ELIZABETH M CO 144,000.00 9.375 5.750
10216130267 HORTON SCOTT WA 119,600.00 9.875 6.250
10216130308 SISON TONIE NV 93,500.00 10.125 6.500
10216130603 KING HAROLD M CO 88,000.00 10.875 7.250
10216130636 PISONE JO ELLEN IL 83,700.00 7.125 2.750
10216130784 KOPP BLAINE ID 54,800.00 10.875 7.250
10216130834 COMER DENNIS MI 72,000.00 7.875 3.750
10216130869 UMPHREY ALBERT NM 275,000.00 11.125 7.250
10216131029 SALCIDO ISAAC AZ 52,500.00 9.625 6.000
10216131143 SCHULZE KENNETH CA 262,500.00 7.375 3.750
10216131188 VIRANI HUSSAIN IL 42,500.00 10.625 6.750
10216131300 CASILLAS GUILLERMO AZ 55,250.00 10.875 7.000
10216131301 RHOTTEN CRAIG AZ 55,000.00 9.625 5.750
10216131424 GOLDBERG JULIA CA 171,000.00 8.875 5.000
10216131427 HATCH ROBERT WA 150,000.00 9.125 5.250
10216131532 THAYN GARY J JR UT 56,000.00 11.125 7.250
10216131603 HEMPHILL SHAWN IN 72,900.00 8.875 5.000
10216131767 SORENSON DEAN UT 132,500.00 11.125 7.250
10216131964 RICE JAMES R. MI 87,000.00 10.000 5.750
10216132066 BENSON PAUL AZ 64,600.00 10.125 6.250
10216132072 STONEBURNER GARTH AZ 69,600.00 10.875 7.000
10216132106 CAPIAK JOHN R IL 40,000.00 10.000 5.750
10216132111 SAEED MOHAMMED M. IL 259,200.00 11.750 7.500
10216132237 TURKIA SOUAD MI 43,200.00 9.625 5.750
10216132616 JOHNSON SUE A IL 132,600.00 9.875 5.000
- ----------- ------------ ------ -----
ARM Loans Approved 7,083,510.00 10.022 6.245
<PAGE>
ALLIANCE FUNDING COMPANY
A division of Superior Bank FSB
Loans Funded and Available for Sale to 1996-3 as of 9/20/96
Current Note
Account Name State Principal Rate Margin
- --------------------------------------------------------------------------------
Total ARM Loans Not Yet Funded 21,438,179.00 10.009 6.276
CLOSED NOT FUNDED
- -----------------
10266120198 OGDEN BARBARA C RI 15,000.00 11.350 0.000
10266123077 DOWELL RAYMOND E NV 124,000.00 12.550 0.000
10266123261 PETERSON SCOTT D CA 43,600.00 12.500 0.000
10266124555 CRAFT GREGORY PA 53,550.00 9.850 0.000
10266125015 CHAZAN MICHAEL AZ 23,500.00 12.900 0.000
10266125069 REESE MICHAEL C CO 53,900.00 12.000 0.000
10266125416 LOREY ELMER D AZ 20,990.00 13.200 0.000
10266125678 CAYFORD KARL S AZ 28,000.00 13.000 0.000
10266125689 LENTINE DOLORES AZ 23,800.00 13.700 0.000
10266125745 BROCHE EDWARD A. IL 84,000.00 8.375 0.000
10266125988 DALY STEPHEN NY 33,500.00 11.990 0.000
10266126179 BROGDON TERRY K AZ 20,979.00 12.650 0.000
10266126247 BAIRD COLIN C AZ 17,887.00 11.600 0.000
10266126306 SAMUELSON THOMAS J UT 39,465.00 14.550 0.000
10266126377 ALLEN ANDREW F. MI 24,800.00 9.990 0.000
10266126480 PERRY DAVID N NM 28,000.00 13.250 0.000
10266126622 JUMPER JACK J AZ 13,800.00 14.000 0.000
10266126869 KIM SUN NYO IL 101,500.00 12.250 0.000
10266127085 STIFFLER DONALD R NV 83,250.00 13.300 0.000
10266127108 CALKINS DARRELL J UT 14,500.00 11.000 0.000
10266127244 DELGADO MAURICE NJ 75,000.00 11.990 0.000
10266127397 CLIFFORD KAREN E AZ 19,870.00 10.950 0.000
10266127554 FLORES MIGUEL A AZ 24,750.00 11.950 0.000
10266127713 GODBEE STEPHEN J AZ 36,604.00 13.250 0.000
10266127834 EUBANKS LLOYD B NV 34,000.00 13.000 0.000
10266128211 GOGERTY THOMAS W CO 76,458.00 13.250 0.000
10266128220 CAMP BERNADETTE C. IL 15,000.00 11.750 0.000
10266128224 PALLOTTO STEPHEN IL 54,100.00 12.250 0.000
10266128323 ROBERTS RICHARD K AZ 20,000.00 14.500 0.000
10266128577 BANKSTON RODNI MI 25,000.00 11.750 0.000
10266128703 HALL KRISTY LYNN AZ 16,650.00 13.500 0.000
10266128706 MAKRAY FRANK A CO 80,000.00 11.750 0.000
10266128874 BEARD ROBERT UT 28,000.00 13.000 0.000
10266129060 KOCH EDWIN R WA 23,230.00 12.250 0.000
10266129076 KLAGES BARRY L PA 37,920.00 10.990 0.000
10266129145 MILNER RICHARD B CO 120,000.00 11.250 0.000
10266129211 MANCHEGO STEVEN A CO 25,088.00 13.250 0.000
10266129445 ALT THOMAS E. MN 48,800.00 11.950 0.000
10266129523 HOWARD JR PHILIP M UT 164,500.00 12.190 0.000
10266129530 MAYHUGH DALLAS H OR 32,900.00 13.250 0.000
10266129569 DAVIS JASON E. OH 46,400.00 9.600 0.000
10266129629 USSERY GLYN UT 22,000.00 9.850 0.000
10266129816 ATKINS THEOLA IL 15,000.00 9.250 0.000
10266129842 ELIZALDE RANDY J. IN 117,000.00 10.240 0.000
10266129861 VANDERBURG FRANK J OR 24,000.00 12.750 0.000
10266129884 FIORENTINO ROBERT NJ 106,250.00 10.500 0.000
10266129924 WILSON JUNE UT 13,900.00 12.250 0.000
10266130042 KING DONNA M AZ 231,500.00 10.700 0.000
10266130069 PARSON EUGENE B PA 145,000.00 10.850 0.000
10266130115 CLEAVER CHARLIE NC 40,000.00 10.750 0.000
10266130119 MCIVER ELMIREE NC 50,575.00 9.500 0.000
10266130129 FAMOUS SHARON L PA 24,925.00 11.400 0.000
10266130131 PERRIN BARRY PA 76,500.00 10.800 0.000
10266130181 HARRISON DAN T NV 24,250.00 12.700 0.000
10266130259 FORD JOSEPH A AZ 22,590.00 12.600 0.000
10266130273 MULLINS EDWARD M FL 65,800.00 10.650 0.000
10266130301 VIRGIN WAYNE WA 33,260.00 11.350 0.000
10266130348 PHILLIPS BOBBY L. IN 22,900.00 11.950 0.000
10266130401 KELLINY NABIL FL 41,600.00 12.450 0.000
<PAGE>
ALLIANCE FUNDING COMPANY
A division of Superior Bank FSB
Loans Funded and Available for Sale to 1996-3 as of 9/20/96
Current Note
Account Name State Principal Rate Margin
- --------------------------------------------------------------------------------
10266130404 RILEY KAREN FL 51,300.00 10.650 0.000
10266130515 D'ABRUZZO VERONICA PA 64,712.00 11.500 0.000
10266130607 MENZINGER WALTER P. NY 85,000.00 10.900 0.000
10266130705 RIVERA ANNA CO 63,465.00 11.100 0.000
10266130735 EALY LORENZO IL 26,200.00 11.750 0.000
10266130765 PYLE GEORGE M FL 30,400.00 10.350 0.000
10266130781 WARE MICHELLE UT 15,815.00 14.190 0.000
10266130808 JOHANNES DAVID A CO 16,500.00 11.550 0.000
10266130917 MACGILLIVRAY DUSTIN J UT 81,900.00 14.250 0.000
10266130978 CIESLAK MANFRED A UT 15,000.00 11.650 0.000
10266131000 DOUGHERTY BERNARD J FL 15,272.00 12.200 0.000
10266131067 WATSON JACQUELYN M. WI 98,000.00 13.000 0.000
10266131070 HELTON JIM G. KY 145,600.00 9.600 0.000
10266131138 BUNTING HAROLD DUANE UT 45,000.00 12.750 0.000
10266131244 MATHEWS ROBERT PA 128,000.00 11.250 0.000
10266131337 RICO REMIGIO IL 79,000.00 11.850 0.000
10266131401 HOBBS JOEL A UT 30,000.00 14.450 0.000
10266131521 HOLMQUIST RAYMOND L CO 13,000.00 13.500 0.000
10266131564 GOLDEN DONNA IL 31,200.00 11.500 0.000
10266131570 ALLEN ANDREW F. MI 26,300.00 10.800 0.000
10266131664 TROTT WILLIAM R UT 41,025.00 12.750 0.000
10266131859 SIMPSON ALAN W CA 76,000.00 11.700 0.000
10266132045 BERGMAN LUANN UT 21,599.00 15.850 0.000
10266132243 CAMPBELL KENNETH E. Ml 64,600.00 11.850 0.000
- ----------- ------------ ------ -----
Fixed Rate Loans Closed and not Funded 4,194,229.00 11.661 0.000
SET TO CLOSE
- ------------
10266119935 HAYES WILLIAM GA 42,800.00 13.750 0.000
10266120184 WINGATE DONALD P NY 47,300.00 10.990 0.000
10266120365 REDDING RICHARD L GA 26,400.00 13.800 0.000
10266120504 CASTIGLIONE ANDREW NY 80,000.00 10.950 0.000
10266120530 MENDEZ FRANCIS NY 247,500.00 11.650 0.000
10266120953 BAGSIYAO CORAZON M NY 158,400.00 13.000 0.000
10266121150 WATSON MARK E UT 47,878.00 13.200 0.000
10266122044 MADSEN DAVID CHESTON UT 22,000.00 13.950 0.000
10266122559 JOHNSON MAYNARD L GA 35,000.00 12.250 0.000
10266123254 KRIENKE JOY ALAN CO 104,000.00 13.750 0.000
10266123794 HATTEN JEANETTE GA 76,500.00 12.150 0.000
10266123836 ESCOBEDO ALDIMAR NY 207,000.00 11.350 0.000
10266123841 MICALIZZI ANGELO V. FL 48,000.00 11.550 0.000
10266124034 BAUMEISTER CAROL NJ 50,000.00 10.400 0.000
10266124041 MONEY JOHN A UT 40,500.00 12.000 0.000
10266124063 JENKINS MORRIS DALE UT 11,000.00 11.500 0.000
10266124483 HUYNH AN QUOC WA 61,800.00 12.950 0.000
10266124623 HEWETT JONATHAN K UT 50,280.00 14.000 0.000
10266124629 CHRISTY CLAIR E FL 94,400.00 10.990 0.000
10266124635 BURSON JERRY GA 162,000.00 12.190 0.000
10266124824 BIRCHER KAREN GALE CO 23,500.00 13.750 0.000
10266125296 JAMES RALPH II NY 213,600.00 14.090 0.000
10266125367 TONA HERLINDA S AZ 47,600.00 11.000 0.000
10266125545 SELA NEBI NY 210,000.00 11.990 0.000
10266125742 GRIFFIN SHERISE IL 20,000.00 13.990 0.000
10266125897 PASTORE RICHARD S NY 220,000.00 11.100 0.000
10266126120 SUNDARA STEVE UT 23,000.00 13.140 0.000
10266126456 CHRISTIANSON LORETTA DENIS WA 55,000.00 10.875 0.000
10266126619 ECKERT LARRY G. PA 126,000.00 11.990 0.000
10266126953 JEAN-PIERRE ROZELLE FL 72,250.00 12.490 0.000
10266127139 MAES SHIRLEY E CO 20,800.00 11.750 0.000
10266127224 MINOR TOM NY 12,265.00 12.400 0.000
10266127300 JANETEAS THOMAS IL 55,800.00 10.750 0.000
10266127403 SNYDER JAN DAVID AZ 35,400.00 12.750 0.000
10266127408 VAUGHT JOHANNA MD 58,000.00 13.000 0.000
10266127422 LOTFI GHULAMRIZA PA 59,000.00 8.500 0.000
<PAGE>
ALLIANCE FUNDING COMPANY
A division of Superior Bank FSB
Loans Funded and Available for Sale to 1996-3 as of 9/20/96
Current Note
Account Name State Principal Rate Margin
- --------------------------------------------------------------------------------
10266127439 RIGGS CLYDE GREEN UT 24,700.00 13.150 0.000
10266127498 WASSERMAN HERBERT NY 208,000.00 11.990 0.000
10266127545 GARRETT FRANK L UT 48,375.00 12.850 0.000
10266127684 SPOHN RICK T UT 23,220.00 12.750 0.000
10266127761 WAZWAZ AMY MN 22,600.00 12.000 0.000
10266127837 ANGER LAVOYN M CO 15,700.00 11.750 0.000
10266127929 BLATNICK DIANA UT 29,725.00 14.500 0.000
10266127949 MATHIS PATRICIA O FL 20,000.00 12.490 0.000
10266128035 INMAN SR ANTHONY R CO 35,000.00 13.250 0.000
10266128040 REESE BETTIANN CO 30,000.00 12.000 0.000
10266128130 ANDREWS PLASSIE FL 43,000.00 11.700 0.000
10266128337 GUSS MATHEW UT 17,523.00 13.200 0.000
10266128338 SCHULTZ DANNY H UT 34,620.00 13.800 0.000
10266128514 FLYNN JANICE J FL 56,000.00 9.600 0.000
10266128609 WILLIAMS LYNDYL GA 13,600.00 13.950 0.000
10266128742 WEINBERGER DIANE UT 63,000.00 14.200 0.000
10266128761 ALY-KHALAFALLA MOHAMED MI 39,000.00 11.500 0.000
10266128802 CHEPONIS KATHLEEN M PA 25,200.00 11.740 0.000
10266128818 KENT JR HOWARD G OR 26,887.00 11.000 0.000
10266128843 MARTINCHICK CHRISTOPHER M UT 16,982.00 13.500 0.000
10266128903 WASINGER LINDA L CO 60,000.00 10.990 0.000
10266128929 SIERRA RUTH MI 11,000.00 14.250 0.000
10266128991 DEPREKER DIANNA M FL 10,000.00 11.950 0.000
10266128995 GILLETTE CRAIG GA 31,800.00 12.950 0.000
10266129046 LOGAN LIZ M NY 99,000.00 11.990 0.000
10266129142 DEOPERSAUD SUKHRAM NY 175,000.00 11.100 0.000
10266129239 MALLORY HARRY L. IL 50,000.00 9.250 0.000
10266129283 PRATER JANET M CO 48,000.00 12.500 0.000
10266129286 STOKES TOM A OR 64,373.00 11.750 0.000
10266129314 HALEY EDWARD G FL 69,000.00 12.500 0.000
10266129346 PEREZ ROBERTO NY 150,000.00 11.100 0.000
10266129353 SNARR PHILIP A CA 106,250.00 12.450 0.000
10266129399 CHARLES ERNEST E PA 27,000.00 12.250 0.000
10266129408 YU THOMAS OR 30,000.00 12.000 0.000
10266129439 MCKINLEY JOHNNIE M. OH 62,100.00 11.050 0.000
10266129476 GUERRIER ILIOMA FL 118,240.00 10.990 0.000
10266129507 CHATTERLY TERRILYN J CARTE UT 50,935.00 15.590 0.000
10266129624 HOOSEIN FARIEDA NY 183,950.00 13.500 0.000
10266129650 HANSEN GAYLA L CO 35,000.00 12.750 0.000
10266129664 MITCHELL RHONDA CO 20,750.00 14.500 0.000
10266129705 SAVACOOL RONALD SR PA 14,000.00 11.350 0.000
10266129708 ANTHONY CHRIS R PA 79,200.00 10.650 0.000
10266129750 PARKINSON SEDLEY W UT 38,634.00 14.550 0.000
10266129785 STRAIN LAWRENCE L CO 30,200.00 11.600 0.000
10266129789 ANGEL DAVID W. IL 17,500.00 13.600 0.000
10266129806 IMPALLARIA MARY E. IL 59,500.00 11.250 0.000
10266129880 GILBERT MICHAEL R CA 79,880.00 12.040 0.000
10266129938 WILLARD CLARENCE S CO 13,964.00 11.100 0.000
10266129948 SAMMON MICHAEL K CO 18,000.00 14.000 0.000
10266129964 HYMAN VALDA MAY MI 46,500.00 9.500 0.000
10266130054 MCKENNA PAULA CO 45,000.00 13.500 0.000
10266130075 WALSH VICTORIA M. IL 208,000.00 13.100 0.000
10266130079 AZO AZO IL 20,000.00 10.750 0.000
10266130118 CROWSON LARRY BRUCE NC 78,500.00 9.100 0.000
10266130166 NICOLETTI NORA FL 14,900.00 11.200 0.000
10266130170 HARDING JESSE R CO 23,000.00 12.400 0.000
10266130171 COPLEY JEFFREY D CO 32,000.00 12.500 0.000
10266130190 KARTCH JOSEPH A. IL 75,000.00 9.150 0.000
10266130196 MATHIS DELORES MI 26,400.00 10.400 0.000
10266130239 ANGILAU SIOPE T UT 55,416.00 13.500 0.000
10266130261 VICHITTRA SIPHAY FL 36,700.00 12.150 0.000
10266130283 CROSS BRENDA A UT 15,000,00 11.850 0.000
10266130306 SMITH HILDA H NV 52,900.00 11.400 0.000
<PAGE>
ALLIANCE FUNDING COMPANY
A division of Superior Bank FSB
Loans Funded and Available for Sale to 1996-3 as of 9/20/96
Current Note
Account Name State Principal Rate Margin
- --------------------------------------------------------------------------------
10266130318 VOSS ROBERT L. IL 49,500.00 11.550 0.000
10266130366 STACEY EDWARD E GA 48,700.00 11.850 0.000
10266130368 MILLER BEADRUCILE M NC 32,700.00 9.500 0.000
10266130369 ALBRITTON JOSEPH B NC 38,250.00 10.000 0.000
10266130376 WENTZ EUGENE L FL 22,100.00 12.150 0.000
10266130429 BURKE ELLEN M UT 121,550.00 12.200 0.000
10266130432 ZANDER COREY LEE UT 62,750.00 11.450 0.000
10266130452 ROSS WAYNE C NV 40,000.00 10.150 0.000
10266130528 DOLAN JERRY J CO 47,645.00 12.700 0.000
10266130548 RODRIGUES BRADFORD K CO 34,000.00 11.100 0.000
10266130576 GOODFELLOW MICHAEL R UT 27,500.00 13.750 0.000
10266130593 RUSSELL CHARLES W WA 108,000.00 11.875 0.000
10266130596 SCOTT ROBERT V AZ 116,375.00 11.200 0.000
10266130615 TABER, II LESTER G. IN 67,700.00 10.300 0.000
10266130624 GILES DEBORAH OH 25,000.00 13.750 0.000
10266130662 RUBIE DAVID A AZ 98,022.00 12.250 0.000
10266130694 DAVIS BETTE ANN PA 13,700.00 12.750 0.000
10266130697 SLOAN III SEBERN JOSEPH AZ 32,500.00 12.700 0.000
10266130708 EDDY DAVID B CO 47,500.00 11.600 0.000
10266130715 PILCHER PETER UT 90,900.00 12.250 0.000
10266130729 RUNCHEY JERRY R IL 18,200.00 9.900 0.000
10266130762 JONES LUCILLE W FL 33,800.00 10.600 0.000
10266130768 FEINSTEIN AMENADAV FL 46,700.00 10.950 0.000
10266130854 MCCRACKEN JAMES R FL 112,000.00 12.190 0.000
10266130858 TAYLOR ARMANDO FL 11,000.00 12.500 0.000
10266130860 WILLIAMS TERRY B FL 57,680.00 10.400 0.000
10266130919 HUGHES MARK A UT 59,450.00 12.750 0.000
10266130936 ARANDA VICTOR M. IL 35,800.00 12.500 0.000
10266130938 EALY HORACE M. IL 97,500.00 11.750 0.000
10266130939 KURZYDLO MICHAEL A. IL 20,100.00 13.490 0.000
10266130974 ABEYTA MARY THERESA NM 25,000.00 11.750 0.000
10266130987 LATER DONALD UT 27,166.00 12.750 0.000
10266131005 CUNNINGHAM CLARIS NY 200,000.00 11.500 0.000
10266131041 KRAUDY KENNETH WILLIAM UT 77,000.00 13.100 0.000
10266131078 BABB TRAVIS ANN BENNETT NC 60,000.00 10.450 0.000
10266131126 PATTERSON DOROTHY M FL 18,262.00 9.650 0.000
10266131220 EMPIRE PROSPECT GROUP,INC. NJ 351,000.00 11.100 0.000
10266131264 HALL DONALD N UT 30,300.00 12.900 0.000
10266131284 KIRKLAND ROBERT O CO 30,788.00 12.750 0.000
10266131324 CAMERON ROBERT D MI 42,500.00 9.800 0.000
10266131329 DEJESUS RAYMOND A. IL 24,700.00 12.490 0.000
10266131331 PARENTI EVE T. IL 12,100.00 13.990 0.000
10266131366 PEREIRA TAMMY L FL 70,000.00 10.850 0.000
10266131386 SCHIPANI NICHOLAS PA 96,000.00 11.500 0.000
10266131432 LONG STEVEN NELSON UT 38,132.00 11.950 0.000
10266131486 CHAPMAN KEITH A UT 14,666.00 15.200 0.000
10266131506 WEEKS WAYNE R FL 52,500.00 12.000 0.000
10266131510 LEE YOUNG H PA 260,000.00 10.950 0.000
10266131562 MASTER PATRICIA D. IL 31,500.00 10.600 0.000
10266131575 FRIERSON GLORIA J. IL 67,500.00 10.450 0.000
10266131651 NOBLE AL UT 76,000.00 13.150 0.000
10266131666 MIDLAND DONALD R JR FL 12,750.00 12.200 0.000
10266131729 LEGGETT ROBERT NC 12,400.00 12.600 0.000
10266131779 VILLA ROBERTO NM 55,500.00 9.950 0.000
10266131858 REID SCOTT W UT 13,200.00 14.350 0.000
10266131914 SMITH GREGORY LYNN UT 26,265.00 14.500 0.000
10266131970 BAXTER WILLIAM D. MI 56,200.00 12.000 0.000
10266132002 HAAG RONALD E PA 35,840.00 13.490 0.000
10266132006 LUDWICK SUSAN L PA 46,541.00 12.950 0.000
10266132013 PERRIN BARRY PA 76,500.00 10.800 0.000
10266132032 OLSEN G SCOTT UT 38,050.00 12.350 0.000
10266132046 BECKSTEAD ROBERT R UT 49,678.00 12.900 0.000
10266132167 ADAMSON VIRGIL FL 65,875.00 11.550 0.000
<PAGE>
ALLIANCE FUNDING COMPANY
A division of Superior Bank FSB
Loans Funded and Available for Sale to 1996-3 as of 9/20/96
Current Note
Account Name State Principal Rate Margin
- --------------------------------------------------------------------------------
10266132209 GODIN PAUL L AZ 28,900.00 11.600 0.000
10266132218 MASCARENAS JOSEPH M NM 18,600.00 13.250 0.000
10266132341 CLARK JOHN R UT 17,000.00 12.350 0.000
10266132343 TARRANT JEFFREY N UT 34,113.00 13.150 0.000
10266132344 MARTIN ROBERT W UT 15,276.00 14.000 0.000
10266132674 ARRUBLA ANGEL PA 77,350.00 11.900 0.000
- ----------- ------------- ------ -----
Fixed Rate Loans Set to Close 10,042,471.00 11.909 0.000
APPROVED
- --------
10266119590 RAMOS MONSERRATE NJ 144,000.00 10.250 0.000
10266120345 PHILLIPS AUBREY NY 142,200.00 11.300 0.000
10266120494 RUSSO FLIPPO NY 52,000.00 13.350 0.000
10266120527 OTTO TERESA ANN WA 104,550.00 12.200 0.000
10266120570 SAM FLOODINA A NY 122,400.00 12.850 0.000
10266121021 KENNEDY JACQUELINE NJ 157,500.00 8.500 0.000
10266121054 GRIFFITH RONALD R FL 25,000.00 12.200 0.000
10266121062 RADA HASSAN NY 187,000.00 10.500 0.000
10266121555 MOULDEN DAVID LEWIS WA 78,600.00 13.850 0.000
10266121561 MOULDEN DAVID LEWIS WA 24,115.00 11.350 0.000
10266121621 PEREZ DEBORAH ELMO NJ 144,000.00 14.500 0.000
10266121731 PEREZ MARIO W NY 39,000.00 13.950 0.000
10266121937 MANGLANI ARJUN NY 90,973.00 11.700 0.000
10266122116 KREVENKO JOHN J PA 60,000.00 10.990 0.000
10266122357 SCIORTINO DOMENICO P PA 14,900.00 13.990 0.000
10266122387 SAUERS LORRAINE M PA 33,000.00 11.150 0.000
10266122699 OVADIA UZI NY 39,000.00 12.690 0.000
10266122779 VARGAS FAUSTO U NY 234,000.00 11.850 0.000
10266122849 GOLEMBIESKI KAREN C NJ 144,000.00 12.350 0.000
10266123009 BIRKAS EUGENE PA 19,700.00 11.700 0.000
10266123057 SMITH AMBER NY 264,000.00 12.750 0.000
10266123305 BYAM ERIC NY 80,000.00 11.850 0.000
10266123404 RAGSDALE PEARLIE M PA 45,000.00 11.200 0.000
10266123417 MEBANE DOLORES NY 55,000.00 13.100 0.000
10266123424 PADGETT GENE NJ 55,000.00 11.750 0.000
10266123680 DIGREGORIO PAUL ANTHONY NY 28,900.00 11.250 0.000
10266123822 SAMUELS ALLEN NY 200,000.00 13.990 0.000
10266123904 BOYD GLENN E NJ 81,250.00 10.990 0.000
10266124135 DOUROS MARGARITTA S PA 67,750.00 12.900 0.000
10266124137 SELTZER ARTHUR H PA 32,900.00 13.150 0.000
10266124193 TSE KAI SHING NY 174,400.00 13.690 0.000
10266124297 ROTH FRED NY 50,000.00 10.750 0.000
10266124406 LAURO DONALD SR NY 50,000.00 12.200 0.000
10266124422 PICONE DEAN NJ 97,950.00 8.750 0.000
10266124479 PENNELL JOSEPH M DE 13,380.00 12.250 0.000
10266124599 CIRKUS ROBERT NJ 61,900.00 14.350 0.000
10266124625 GOGA FIFE NY 190,000.00 10.700 0.000
10266124707 BAIR PAMELA J PA 52,000.00 10.990 0.000
10266124791 DAVIS SR JAMES EDWARD AZ 13,870.00 12.900 0.000
10266124984 HINES BOOKER T SR DC 71,600.00 13.750 0.000
10266125045 REBESCHI LAURIE CT 385,000.00 11.750 0.000
10266125121 CASTRO JULIO C NJ 91,700.00 12.490 0.000
10266125212 BERTRAND PHILLIP ALDRICK NY 99,000.00 10.700 0.000
10266125224 DALY NANCY NY 214,900.00 11.750 0.000
10266125287 PAWLAK DANIEL J NJ 214,300.00 10.750 0.000
10266125324 JONES DARRYL W PA 77,000.00 11.990 0.000
10266125329 DREW WILLIAM D NY 38,500.00 11.100 0.000
10266125376 REID NEWTON G NY 150,000.00 10.750 0.000
10266125472 SELF DARNELL E MD 70,500.00 13.600 0.000
10266125794 ANTONOSANTI STEPHEN M OH 175,500.00 8.625 0.000
10266125851 HUGH DERMONT NY 40,000.00 11.000 0.000
10266125918 CALDWELL CHRISTOPHER M NY 48,300.00 10.700 0.000
10266126066 TUCKER MORRIS MD 22,000.00 11.750 0.000
10266126140 BARON GABRIELLE CT 60,000.00 13.750 0.000
<PAGE>
ALLIANCE FUNDING COMPANY
A division of Superior Bank FSB
Loans Funded and Available for Sale to 1996-3 as of 9/20/96
Current Note
Account Name State Principal Rate Margin
- --------------------------------------------------------------------------------
10266126169 URRA ELEODORO NJ 64,000.00 12.850 0.000
10266126201 GUTIERREZ BRYAN W CO 53,200.00 10.000 0.000
10266126367 ROKOSE ERNEST NJ 104,000.00 10.600 0.000
10266126429 ACHOR TIMOTHY FL 53,000.00 10.200 0.000
10266126497 WASHBURN JON N MD 47,500.00 12.990 0.000
10266126499 TRAN THOAI NJ 55,300.00 11.990 0.000
10266126760 EASTBURN HARRY C PA 117,300.00 11.990 0.000
10266126781 ST MARTIN VIOLETTE NY 216,000.00 10.200 0.000
10266126890 MICKEL CHARLES B NY 195,300.00 11.750 0.000
10266126891 PLUCHINO JOSEPH NY 35,000.00 10.990 0.000
10266126910 STUCKEY CHARLES W. JR. FL 14,400.00 12.000 0.000
10266126932 LARSEN CURT AZ 13,000.00 13.800 0.000
10266127035 MYERS DELSHAUN NJ 46,000.00 11.990 0.000
10266127063 JEAN JOSEPH JEAN NJ 151,200.00 11.750 0.000
10266127128 HARRIS DEBORAH A DE 55,200.00 13.300 0.000
10266127191 JIRLES ROBERT E OH 55,000.00 10.900 0.000
10266127225 FLOURNOY LAIRD NY 38,250.00 12.750 0.000
10266127227 THOMAS MARGARET E NJ 70,550.00 11.900 0.000
10266127240 JEFFRESS LLOYD NJ 17,774.00 12.900 0.000
10266127279 CARTER BESSIE FL 36,000.00 13.200 0.000
10266127299 GALEA RITA M. MI 42,700.00 11.750 0.000
10266127306 JUNK BRIAN L. MI 86,000.00 12.250 0.000
10266127340 SCHWARZ WILLIAM F NY 45,000.00 9.750 0.000
10266127347 KASPARIAN CHARLES H NJ 64,000.00 10.990 0.000
10266127379 PRIDGEN LATHAN NJ 12,000.00 14.700 0.000
10266127382 MCKAY CHRIS NY 76,800.00 13.490 0.000
10266127461 NILES JACQUELINE FL 11,400.00 12.250 0.000
10266127462 BARNETT ROBERT NY 16,500.00 13.500 0.000
10266127477 UCHETEL SVETLANA NY 45,000.00 11.000 0.000
10266127486 ROBINSON FREDERICK D NY 42,000.00 14.250 0.000
10266127511 HODNETT JAMES E PA 15,520.00 13.990 0.000
10266127513 ALBIN MARIE A PA 42,250.00 15.190 0.000
10266127528 GONZALES JOHNNY R CO 108,000.00 11.250 0.000
10266127649 HENLEY ROBERT BRET FL 10,350.00 12.500 0.000
10266127692 WHITTINGHAM NERISSA CT 22,300.00 12.300 0.000
10266127778 GIANGREGORIO JOHN A NY 197,200.00 9.990 0.000
10266127919 BROWN PRICILLA NY 85,000.00 12.000 0.000
10266127924 TALLMAN RICKY R MD 76,000.00 13.250 0.000
10266128049 BOWMAN BILL AZ 35,625.00 11.990 0.000
10266128106 HAMLET GLORIA MD 45,000.00 11.000 0.000
10266128122 HALL EDWARD AZ 13,800.00 11.000 0.000
10266128157 CAMINNECI LAWRENCE L NJ 45,000.00 11.500 0.000
10266128159 REID WILLIAM NJ 116,000.00 12.750 0.000
10266128271 BARBAGALLO GARY NY 53,000.00 10.990 0.000
10266128319 PURDY JOHN A AZ 63,450.00 12.550 0.000
10266128347 DONALDSON DOROTHY N DC 59,300.00 13.290 0.000
10266128440 FOLKS MARTIN A PA 90,600.00 11.950 0.000
10266128502 SICILIANO ROBERT A NJ 176,000.00 11.490 0.000
10266128549 JOHNSON CHARLES AZ 25,500.00 11.600 0.000
10266128623 SFERRA DR ALFRED L NJ 273,600.00 13.990 0.000
10266128651 LONDON SR ROBERT A PA 22,500.00 12.350 0.000
10266128684 OLAMIJULO JIDE NY 135,000.00 10.400 0.000
10266128755 TIGHE NICOLE MI 63,700.00 12.250 0.000
10266128768 POWELL EVERTON E NJ 101,150.00 12.000 0.000
10266128930 LEHR LESTER IL 12,200.00 12.000 0.000
10266128953 KEYS THOMAS J MD 28,500.00 13.150 0.000
10266129007 BROWN SOLOMON CT 17,500.00 13.150 0.000
10266129012 GORDON ELMEIDA NY 120,000.00 12.990 0.000
10266129024 DMITRIEV ANDRE NJ 30,000.00 11.990 0.000
10266129028 JONES SIGMON JR NY 64,600.00 10.950 0.000
10266129138 ATWOOD C VAL UT 44,000.00 11.750 0.000
10266129162 WELSH DEBBIE FL 47,200.00 13.200 0.000
10266129259 EVANS JOYCE A. OH 45,000.00 11.750 0.000
<PAGE>
ALLIANCE FUNDING COMPANY
A division of Superior Bank FSB
Loans Funded and Available for Sale to 1996-3 as of 9/20/96
Current Note
Account Name State Principal Rate Margin
- --------------------------------------------------------------------------------
10266129358 EDLING GARY M PA 15,000.00 13.750 0.000
10266129474 KELLER KELLY A PA 50,250.00 10.990 0.000
10266129531 MENDEZ JOHN A PA 40,000.00 11.250 0.000
10266129547 VILLAS GRACE CA 56,000.00 14.000 0.000
10266129620 CHANDLER JANET L FL 10,000.00 11.300 0.000
10266129694 AROSE WILLIAM D NJ 131,700.00 9.650 0.000
10266129713 DOYLE LAURA L ALLORTO FL 49,000.00 11.750 0.000
10266129719 BREWER RONALD AZ 23,952.00 13.000 0.000
10266129725 HOSKINS NICK AZ 22,000.00 12.410 0.000
10266129749 PULCINELLA JOSEPH J PA 21,700.00 11.550 0.000
10266129823 KORDOPITOULAS BECKY IL 55,000.00 8.625 0.000
10266129825 SOTELO MARCELINO IL 91,000.00 11.500 0.000
10266129893 WALSH JR PAUL F PA 81,000.00 12.250 0.000
10266129952 DUBUQUE JOHN J. NY 125,000.00 11.900 0.000
10266130029 GOLDMAN CRAIG A PA 62,861.00 12.050 0.000
10266130053 MARKLE TONY CA 60,000.00 11.200 0.000
10266130222 MARTINEZ, SAMUEL FL 31,125.00 11.350 0.000
10266130223 WERNER DEBORAH FL 20,000.00 12.200 0.000
10266130224 ANDERSON HAROLD FL 28,875.00 11.200 0.000
10266130245 NUNN MARC OR 31,000.00 11.600 0.000
10266130249 ZELLER DANIEL AZ 12,000.00 11.600 0.000
10266130250 LONNEN JOANNE A. FL 32,000.00 10.650 0.000
10266130313 FARINA ROBERT M. NJ 99,000.00 8.375 0.000
10266130356 PEREZ ROSA N PA 63,000.00 11.050 0.000
10266130392 PERKINS BARBARA OR 22,218.00 11.200 0.000
10266130393 TOMA ZIA AZ 13,800.00 11.400 0.000
10266130418 MENDES, LUCIO FL 52,000.00 10.950 0.000
10266130465 ALEXANDER PEARL IL 15,000.00 11.750 0.000
10266130627 WASHINGTON WILLIE L. IL 48,000.00 9.800 0.000
10266130676 HOY RONNIE AZ 17,300.00 12.350 0.000
10266130677 GUERRA RUBY NM 30,000.00 13.750 0.000
10266130690 STORY MARK FL 28,000.00 12.200 0.000
10266130758 SOURWINE WILLIAM L PA 55,000.00 10.500 0.000
10266130814 ROBERTSON JOSH T PA 50,000.00 10.000 0.000
10266130826 BIVENS PERLINA IL 38,500.00 14.690 0.000
10266130855 JACKSON JOANN FL 10,000.00 12.500 0.000
10266130925 WIERSEMA BILL IL 55,300.00 9.400 0.000
10266130985 GREGORY JULIAN FL 28,000.00 11.150 0.000
10266130994 FRANKLIN BETTY FL 40,000.00 13.500 0.000
10266130996 GARVIN SANDRA FL 30,000.00 11.900 0.000
10266131032 MOORE MICHAEL WA 12,800.00 13.500 0.000
10266131089 ROGERS JAMES R PA 98,400.00 10.990 0.000
10266131101 RODRIGUEZ GLORIA FL 64,800.00 10.650 0.000
10266131268 BOWERS DON R FL 19,500.00 11.100 0.000
10266131296 WANLASS RAY UT 14,200.00 14.500 0.000
10266131327 WILLIAMS RICHARD IN 19,600.00 12.150 0.000
10266131559 ANNORENO VINCE IL 15,000.00 12.490 0.000
10266131568 BARR BRIAN M IL 119,000.00 11.850 0.000
10266131605 VIRCIK PAUL SR NJ 280,000.00 11.600 0.000
10266131618 TURKO JODI L PA 73,100.00 10.990 0.000
10266131622 ROGERS DENISE FL 18,000.00 13.450 0.000
10266131726 HERMES JOE A FL 24,000.00 12.700 0.000
10266131732 LEE REBECCA L DE 17,950.00 13.650 0.000
10266131882 HUTCHISON NANCY ELLIS DE 135,000.00 11.050 0.000
10266131962 SHOOLTZ GARY D IL 20,950.00 13.500 0.000
10266132036 BODLE THOMAS AZ 58,100.00 13.990 0.000
10266132108 VENETSANAKOS NICOLAOS IL 28,000.00 11.875 0.000
10266132274 VAN HORN DAVID AZ 16,600.00 11.950 0.000
- ----------- ------------- ------ -----
Fixed Rate Approved 12,171,338.00 11.745 0.000
Total Fixed Rate Loans Not Yet Funded 26,408,038.00 11.794 0.000
Loans Not Yet Funded 47,846,217.00 10.994 2.812
<PAGE>
EXHIBIT S
MORTGAGE LOANS 30 OR MORE DAYS DELINQUENT
<PAGE>
EXHIBIT T
SUBSEQUENT TRANSFER INSTRUMENT FOR [SUB-POOL 1][SUB-POOL 2]
Pursuant to this Subsequent Transfer Instrument (the "Instrument"), dated
___________, 199__, between Superior Bank FSB, as seller (the "Depositor"), and
LaSalle National Bank, as Trustee of the AFC Mortgage Loan Asset Backed
Certificates, Series 1996-3, as purchaser (the "Trustee"), and pursuant to the
Pooling and Servicing Agreement, dated as of September 1, 1996, among Superior
Bank FSB, as Depositor, Lee Servicing Company, a Division of Superior Bank FSB,
as Servicer, and LaSalle National Bank, as Trustee (the "Pooling and Servicing
Agreement"), the Depositor and the Trustee agree to the sale by the Depositor
and the purchase by the Trustee, on behalf of the Trust Fund, of the Mortgage
Loans listed on the attached Schedule of Mortgage Loans (the "Subsequent
Mortgage Loans").
Capitalized terms used and not defined herein have their respective
meanings as set forth in the Pooling and Servicing Agreement.
Section 1. Conveyance of Subsequent Mortgage Loans.
(a) The Depositor does hereby sell, transfer, assign, set over and convey
to the Trustee, on behalf of the Trust Fund, without recourse, all of its right,
title and interest in and to the Subsequent Mortgage Loans, excepting the
Depositor's Yield, and including all amounts due on the Subsequent Mortgage
Loans after the related Subsequent Cut-Off Date, and all items with respect to
the Subsequent Mortgage Loans to be delivered pursuant to Section 2.04 of the
Pooling and Servicing Agreement; provided, however that the Depositor reserves
and retains all right, title and interest in and to amounts (including
Prepayments, Curtailments and Excess Payments) due on the Subsequent Mortgage
Loans on or prior to the related Subsequent Cut-off Date. The Depositor,
contemporaneously with the delivery of this Agreement, has delivered or caused
to be delivered to the Trustee or, if a Custodian has been appointed pursuant to
Section 12.12 of the Pooling and Servicing Agreement, to the Custodian each item
set forth in Section 2.04 of the Pooling and Servicing Agreement. The transfer
to the Trustee by the Depositor of the Subsequent Mortgage Loans identified on
the Mortgage Loan Schedule shall be absolute and is intended by the Depositor,
the Servicer, the Trustee and the Certificateholders to constitute and to be
treated as a sale by the Depositor to the Trust Fund.
(b) The expenses and costs relating to the delivery of the Subsequent
Mortgage Loans, this Instrument and the Pooling and Servicing Agreement shall be
borne by the Depositor.
(c) Additional terms of the sale are set forth on Attachment A hereto.
<PAGE>
Section 2. Representations and Warranties; Conditions Precedent.
(a) The Depositor hereby affirms the representations and warranties set
forth in Section 3.02 of the Pooling and Servicing Agreement that relate to the
Subsequent Mortgage Loans as of the date hereof. The Depositor hereby confirms
that each of the conditions set forth in Section 2.10(b), and as applicable,
Section 2.10(c) or Section 2.10(d), of the Pooling and Servicing Agreement are
satisfied as of the date hereof.
(b) All terms and conditions of the Pooling and Servicing Agreement are
hereby ratified and confirmed; provided, however, that in the event of any
conflict the provisions of this Instrument shall control over the conflicting
provisions of the Pooling and Servicing Agreement.
Section 3. Recordation of Instrument.
To the extent permitted by applicable law, this Instrument, or a
memorandum thereof if permitted under applicable law, is subject to recordation
in all appropriate public offices for real property records in all of the
counties or other comparable jurisdictions in which any or all of the properties
subject to the Mortgages are situated, and in any other appropriate public
recording office or elsewhere, such recordation to be effected by the Servicer
at the Certificateholders' expense on direction of the related Majority
Certificateholders, but only when accompanied by an Opinion of Counsel to the
effect that such recordation materially and beneficially affects the interests
of the Certificateholders or is necessary for the administration or servicing of
the Mortgage Loans.
Section 4. Governing Law.
This Instrument shall be construed in accordance with the laws of the
State of New York and the obligations, rights and remedies of the parties
hereunder shall be determined in accordance with such laws, without giving
effect to principles of conflicts of law.
Section 5. Counterparts.
This Instrument may be executed in one or more counterparts and by the
different parties hereto on separate counterparts, each of which, when so
executed, shall be deemed to be an original; such counterparts, together, shall
constitute one and the same instrument.
-2-
<PAGE>
Section 6. Successors and Assigns.
This Instrument shall inure to the benefit of and be binding upon the
Depositor and the Trustee and their respective successors and assigns.
SUPERIOR BANK FSB
By:_______________________________
Name:
Title:
AFC MORTGAGE LOAN ASSET
BACKED CERTIFICATES, SERIES 1996-3
By: LASALLE NATIONAL BANK,
as Trustee
By:_______________________________
Name:
Title:
Attachments
A. Additional terms of the sale.
B. Schedule of Subsequent Mortgage Loans.
C. Opinions of Depositor's counsel (bankruptcy, corporate).
D. Depositor's Officer's certificate.
E. Trustee's Certificate.
F. Opinion of Trustee's Counsel.
-3-
<PAGE>
AFC MORTGAGE LOAN ASSET BACKED CERTIFICATES, SERIES 1996-3
ATTACHMENT A TO SUBSEQUENT TRANSFER INSTRUMENT FOR SUB-POOL 1
Series 1996-3
________, 199__
A.
1. Subsequent Cut-off Date:
1. Pricing Date:
2. Subsequent Transfer Date:
3. Aggregate Principal Balance of the Subsequent Mortgage Loans as of
the Subsequent Cut-off Date:
4. Purchase Price: 100.00%
B.
As to all the Subsequent Mortgage Loans the subject of this Instrument:
1. Longest stated term to maturity: _____ months
2. Lowest Mortgage Rate: _____ %
3. Greatest Combined Loan-to-Value Ratio: _____ %
[As to the final transfer of
Subsequent Mortgage Loans:]
4. WAC of all Mortgage Loans: _____ %
5. WAM of all Mortgage Loans:_____ %
6. Weighted average CLTV: _____ %
7. Balloon Loans: _____ %
8. Largest Principal Balance: $________
9. Non-owner occupied Mortgaged Properties: _____ %
10. Maximum California zip code concentration: _____ %
11. Condominiums: _____ %
12. Single-family: _____ %
13. Weighted average term since origination: _____ months
14. [August/September/October] first payment date: _____ %
<PAGE>
AFC MORTGAGE LOAN ASSET BACKED CERTIFICATES, SERIES 1996-3
ATTACHMENT A TO SUBSEQUENT TRANSFER INSTRUMENT FOR SUB-POOL 2
Series 1996-3
________, 199__
A.
1. Subsequent Cut-off Date:
1. Pricing Date:
2. Subsequent Transfer Date:
3. Aggregate Principal Balance of the Subsequent
Mortgage Loans as of the Subsequent Cut-off Date:
4. Purchase Price: 100.00%
B.
As to all the Subsequent Mortgage Loans the subject of this Instrument:
1. Longest stated term to maturity: _____ months
2. Minimum Mortgage Rate: _____ %
3. Maximum Mortgage Rate: _____ %
4. WAC of all Mortgage Loans: _____ %
5. WAM of all Mortgage Loans: _____ %
6. Balloon Loans: _____ %
7. Largest Principal Balance: $________
8. Non-owner occupied Mortgaged Properties: _____ %
9. Maximum zip code concentration: _____ %
10. Condominiums: _____ %
11. Single-family: _____ %
12. Weighted average term since origination: _____ months
13. [August/September/October] first payment date: _____ %
<PAGE>
EXHIBIT U
FORM OF ADDITION NOTICE
[Date]
[Trustee]
_____________________
_____________________
Re: Pooling and Servicing Agreement, dated as of September 1, 1996,
between [Depositor] [Trustee] and [Servicer], relating to AFC
Mortgage Loan Asset Backed Certificates, Series 1996-3
Ladies and Gentlemen:
Pursuant to Section 2.10 of the above-captioned Pooling and Servicing
Agreement, [Depositor] has designated Subsequent Mortgage Loans to be sold to
the Trust Fund on _________, 199__, with an aggregate principal balance of
$______________. Capitalized terms not otherwise defined herein have the meaning
set forth in the Pooling and Servicing Agreement.
Please acknowledge your receipt of this notice by countersigning the
enclosed copy in the space indicated below and returning it to the attention of
the undersigned.
Very truly yours,
[DEPOSITOR]
By: _________________________
Name: _________________________
Title: _________________________
ACKNOWLEDGED AND AGREED:
[Trustee]
By: ___________________________
Name: ___________________________
Title: ___________________________
Date: ___________________________
<PAGE>
EXHIBIT V
OFFICER'S CERTIFICATE
I, _________________ hereby certify that I am the duly elected
______________ of Superior Bank FSB, a federally chartered stock savings bank
(the "Depositor"), and further, to the best of my knowledge and after due
inquiry, as follows:
Each condition precedent specified in Section 2.10(b) and [Section
2.10(c) for Sub-Pool 1 Mortgage Loans] [Section 2.10(d) for Sub-Pool 2
Mortgage Loans] of the Pooling and Servicing Agreement, dated as of
September 1, 1996, among the Depositor, Lee Servicing Company, a division
of Superior Bank FSB, and LaSalle National Bank, as Trustee (the "Pooling
and Servicing Agreement") and each condition precedent specified in the
Subsequent Transfer Instrument has been satisfied by the Depositor.
Capitalized terms not otherwise defined herein have the meanings set forth
in the Pooling and Servicing Agreement.
IN WITNESS WHEREOF, I have hereunto signed my name.
Dated: _________ __, 199__ By: ____________________________________
Name:
Title:
<PAGE>
EXHIBIT W
FORM OF AGREEMENT OF APPOINTMENT AND
ACCEPTANCE OF SEPARATE TRUSTEE
This AGREEMENT OF APPOINTMENT AND ACCEPTANCE OF SEPARATE TRUSTEE (the
"Agreement") is dated as of the ____ day of _________, _____, by and among
SUPERIOR BANK FSB, as Depositor (the "Company"), LEE SERVICING COMPANY, A
DIVISION OF SUPERIOR BANK FSB, as Servicer (the "Servicer"), LaSalle National
Bank, as Trustee (the "Trustee"), and ______________, as Separate Trustee (the
"Separate Trustee").
RECITALS
A. The Company, the Servicer and the Trustee have entered into that
certain Pooling and Servicing Agreement dated as of September 1, 1996 (as
amended, supplemented or modified from time to time, the "Pooling Agreement")
relating to the AFC Mortgage Loan Asset Backed Certificates, Series 1996-3 (the
"Trust").
B. Pursuant to the terms and conditions of the Pooling Agreement, the
Company will assign and deliver to the Trustee certain home equity loans and the
mortgages related thereto comprising part of the Trust Fund (as defined in the
Pooling Agreement).
C. Pursuant to the terms and conditions of the Pooling Agreement, the
Trustee shall act as trustee for, and on behalf and for the benefit of, the
Certificateholders (as defined in the Pooling Agreement).
D. The laws of the State of New Jersey prohibit the transfer of second
mortgage loans originated in New Jersey except to certain transferees, which
transferees would not include the Trustee but would include a national banking
association having its principal office in the State of New Jersey, such as the
Separate Trustee.
E. In order to permit the Company to transfer to the Trust Fund certain
second mortgage loans originated in the State of New Jersey, the parties hereto
intend to appoint, pursuant to Section 12.10 of the Pooling Agreement, the
Separate Trustee, who, as a separate trustee with and on behalf of the Trustee
under the Pooling Agreement, will be the assignee of the mortgage assignments
executed and to be recorded in the State of New Jersey in connection with the
formation of the Trust Fund (the "Assignments"), and the Separate Trustee is so
named in the Pooling Agreement and in the Assignments, for the limited purpose
of satisfying said New Jersey state law requirements and consequently exercising
such duties and functions as may be prescribed herein and under the Pooling
Agreement.
<PAGE>
NOW, THEREFORE, the Company, the Trustee and the Separate Trustee do
hereby agree as follows:
1. Appointment of the Separate Trustee; Acceptance of Appointment.
To the extent that the Trust Fund consists of home equity loans secured by
mortgages relating to real estate located in the State of New Jersey ("New
Jersey Home Equity Loans"), the Company and the Trustee hereby appoint the
Separate Trustee, as of the date hereof, as separate trustee under the Pooling
Agreement, of that part of the Trust Fund consisting of the New Jersey Home
Equity Loans and the Separate Trustee is hereby vested with legal title to the
New Jersey Home Equity Loans, as of such date, to the extent required by New
Jersey law, the power of the Separate Trustee to be exercised subject to the
provisions of this Agreement and Section 12.10 of the Pooling Agreement.
The Separate Trustee hereby acknowledges that its principal
office is located in the State of New Jersey, accepts the foregoing appointment
and agrees to act as separate trustee with the Trustee, its successors and
assigns under the Pooling Agreement and the Assignments, and to exercise its
duties as separate trustee, in and only in the event of a written request by the
Trustee.
2. Limited Scope of Appointment and Duties. The Separate Trustee
shall act as separate trustee under the Pooling Agreement and the Assignments
only upon, and to the extent of, written instructions from the Trustee and no
other party. The Separate Trustee shall not be required to take, nor shall it be
responsible for taking, any action as separate trustee under the Pooling
Agreement or the Assignments unless it has received such written instructions
from the Trustee.
The Separate Trustee shall owe no duty as separate trustee
under the Pooling Agreement and the Assignments to any party other than the
Trustee and the Certificateholders. The Trustee shall consult with the Separate
Trustee with respect to decisions deemed by the Trustee to be significant to be
made with respect to the exercise of any powers to be exercised by the Separate
Trustee and, upon request of the Separate Trustee, will provide the Separate
Trustee with copies of all notices and other documents pursuant to which it
exercises its duties as the Trustee.
Any provision of this Agreement or the Pooling Agreement or
the Assignments to the contrary notwithstanding, the Separate Trustee shall have
no power to act in any manner inconsistent with the terms of the Pooling
Agreement with respect to, or to vary the investment in, the trust created
hereby.
3. Appointment of the Trustee as Attorney-in-Fact. Wherever and to
the fullest extent permitted by law, the Separate Trustee hereby irrevocably
appoints the Trustee as its agent and Attorney-in-Fact for the purpose of
executing any and all documents which the Separate Trustee may be required, as
separate trustee under the Pooling Agreement and the Assignments, to execute;
provided, however, that nothing in this Agreement shall be deemed
-2-
<PAGE>
an admission that the Separate Trustee is required to execute any of such
documents in its capacity as separate trustee under the Pooling Agreement and
the Assignments.
4. Notices. Notices and instructions under this Agreement shall be
deemed given under this Agreement when sent by overnight courier or when mailed
by Certified Mail, Return Receipt Requested, to the parties at their addresses
provided below or at such other addresses as the parties may direct:
If to the Trustee:
LaSalle National Bank
135 S. LaSalle Street, Suite 200
Chicago, Illinois, 60674-4107
Attention: Asset-Backed Securities
Trust Services Department - AFC 1996-3
__________________
If to the Separate Trustee:
__________________
__________________
__________________
(with copy to the Trustee)
If to the Company:
Superior Bank FSB
One Lincoln Centre
Oakbrook Terrace, Illinois 60181
Attention: Mr. William C. Bracken
Senior Vice President and
Chief Financial Officer
If to the Servicer:
Lee Servicing Company, a division
of Superior Bank FSB
One Lincoln Centre
Oakbrook Terrace, Illinois 60181
Attention: Mr. William C. Bracken
Senior Vice President and
Chief Financial Officer
-3-
<PAGE>
5. Choice of Law. This Agreement shall be governed by, and construed
in accordance with, the laws of the State of New York.
6. Counterparts. This Agreement may be executed in one or more
counterparts and by the different parties hereto on separate counterparts, each
of which, when so executed, shall be deemed to be an original; such
counterparts, together, shall constitute one and the same agreement.
-4-
<PAGE>
IN WITNESS WHEREOF, the Company, the Servicer, the Trustee and the
Separate Trustee hereby execute this Agreement as of the date first set forth
above.
COMPANY:
SUPERIOR BANK FSB
By:________________________________
Name:
Title:
TRUSTEE:
LASALLE NATIONAL BANK, as Trustee
By:________________________________
Name:
Title:
SEPARATE TRUSTEE:
______________, as Separate Trustee
By:________________________________
Name:
Title:
SERVICER:
LEE SERVICING COMPANY, a
division of Superior Bank FSB
By:________________________________
Name:
Title:
-5-
EXHIBIT 4.2
<PAGE>
SUBSEQUENT TRANSFER INSTRUMENT NUMBER ONE
Pursuant to this Subsequent Transfer Instrument (the "Instrument"),
dated September 27, 1996, between Superior Bank FSB, as seller (the
"Depositor"), and LaSalle National Bank, as Trustee of the AFC Mortgage Loan
Asset Backed Certificates, Series 1996-3, as purchaser (the "Trustee"), and
pursuant to the Pooling and Servicing Agreement, dated as of September 1, 1996,
among Superior Bank FSB, as Depositor, Lee Servicing Company, a Division of
Superior Bank FSB, as Servicer, and LaSalle National Bank, as Trustee (the
"Pooling and Servicing Agreement"), the Depositor and the Trustee agree to the
sale by the Depositor and the purchase by the Trustee, on behalf of the Trust
Fund, of the Mortgage Loans listed on the attached Schedule of Mortgage Loans
(the "Subsequent Mortgage Loans").
Capitalized terms used and not defined herein have their respective
meanings as set forth in the Pooling and Servicing Agreement.
Section 1. Conveyance of Subsequent Mortgage Loans.
(a) The Depositor does hereby sell, transfer, assign, set over and
convey to the Trustee, on behalf of the Trust Fund, without recourse, all of its
right, title and interest in and to the Subsequent Mortgage Loans, excepting the
Depositor's Yield, and including all amounts due on the Subsequent Mortgage
Loans after the related Subsequent Cut-Off Date, and all items with respect to
the Subsequent Mortgage Loans to be delivered pursuant to Section 2.04 of the
Pooling and Servicing Agreement; provided, however that the Depositor reserves
and retains all right, title and interest in and to amounts (including
Prepayments, Curtailments and Excess Payments) due on the Subsequent Mortgage
Loans on or prior to the related Subsequent Cut-off Date. The Depositor,
contemporaneously with the delivery of this Agreement, has delivered or caused
to be delivered to the Trustee or, if a Custodian has been appointed pursuant to
Section 12.12 of the Pooling and Servicing Agreement, to the Custodian each item
set forth in Section 2.04 of the Pooling and Servicing Agreement. The transfer
to the Trustee by the Depositor of the Subsequent Mortgage Loans identified on
the Mortgage Loan Schedule shall be absolute and is intended by the Depositor,
the Servicer, the Trustee and the Certificateholders to constitute and to be
treated as a sale by the Depositor to the Trust Fund.
(b) The expenses and costs relating to the delivery of the
Subsequent Mortgage Loans, this Instrument and the Pooling and Servicing
Agreement shall be borne by the Depositor.
(c) Additional terms of the sale are set forth on Attachment A
hereto.
1
<PAGE>
Section 2. Representations and Warranties; Conditions Precedent.
(a) The Depositor hereby affirms the representations and warranties
set forth in Section 3.02 of the Pooling and Servicing Agreement that relate to
the Subsequent Mortgage Loans as of the date hereof. The Depositor hereby
confirms that each of the conditions set forth in Section 2.10(b), and as
applicable, Section 2.10(c) or Section 2.10(d), of the Pooling and Servicing
Agreement are satisfied as of the date hereof.
(b) All terms and conditions of the Pooling and Servicing Agreement
are hereby ratified and confirmed; provided, however, that in the event of any
conflict the provisions of this Instrument shall control over the conflicting
provisions of the Pooling and Servicing Agreement.
Section 3. Recordation of Instrument.
To the extent permitted by applicable law, this Instrument, or a
memorandum thereof if permitted under applicable law, is subject to recordation
in all appropriate public offices for real property records in all of the
counties or other comparable jurisdictions in which any or all of the properties
subject to the Mortgages are situated, and in any other appropriate public
recording office or elsewhere, such recordation to be effected by the Servicer
at the Certificateholders' expense on direction of the related Majority
Certificateholders, but only when accompanied by an Opinion of Counsel to the
effect that such recordation materially and beneficially affects the interests
of the Certificateholders or is necessary for the administration or servicing of
the Mortgage Loans.
Section 4. Governing Law.
This Instrument shall be construed in accordance with the laws of
the State of New York and the obligations, rights and remedies of the parties
hereunder shall be determined in accordance with such laws, without giving
effect to principles of conflicts of law.
Section 5. Counterparts.
This Instrument may be executed in one or more counterparts and by
the different parties hereto on separate counterparts, each of which, when so
executed, shall be deemed to be an original; such counterparts, together, shall
constitute one and the same instrument.
2
<PAGE>
Section 6. Successors and Assigns.
This Instrument shall inure to the benefit of and be binding upon
the Depositor and the Trustee and their respective successors and assigns.
SUPERIOR BANK FSB
By: /s/ William C. Bracken
--------------------------
Name: William C. Bracken
Title: Senior Vice President and
Chief Financial Officer
AFC MORTGAGE LOAN ASSET
BACKED CERTIFICATES, SERIES 1996-3
By: LASALLE NATIONAL BANK,
as Trustee
By: /s/ Shashank Mishra
--------------------------
Name: Shashank Mishra
Title: Vice President
Attachments
A. Additional terms of the sale.
B. Schedule of Subsequent Mortgage Loans.
C. Opinions of Depositor's counsel (bankruptcy, corporate).
D. Depositor's Officer's certificate.
E. Opinion of Trustee's Counsel.
3
<PAGE>
AFC MORTGAGE LOAN ASSET BACKED CERTIFICATES, SERIES 1996-3
ATTACHMENT A TO SUBSEQUENT TRANSFER INSTRUMENT
NUMBER ONE FOR SUB-POOL 1
Series 1996-3
September 27, 1996
A.
1. Subsequent Cut-off Date: September 26, 1996
2. Pricing Date:
3. Subsequent Transfer Date: September 27, 1996
4. Aggregate Principal Balance of the Subsequent
Mortgage Loans as of the Subsequent Cut-off Date: $25,086,692.04
5. Purchase Price: 100.00%
B.
As to all the Subsequent Mortgage Loans the subject of this Instrument:
1. Shortest original term to maturity: 120 months
2. Longest original term to maturity: 360 months
3. Lowest Mortgage Rate: 9.25%
4. Greatest Combined Loan-to-Value Ratio: 90.00%
5. Largest Principal Balance $361,000.00
[As to the final transfer of Subsequent Mortgage Loans:]
6. Weighted Average Term since Origination: _____
7. August 1996 first payment date: _____
8. WAC of all Mortgage Loans: _____ %
9. WAM of all Mortgage Loans: _____ %
10. Maximum Weighted average CLTV: _____ %
11. Balloon Loans: _____ %
12. Largest Principal Balance: $________
13. Non-owner occupied Mortgaged Properties: _____ %
14. Maximum zip code concentration: _____ %
15. Condominiums: _____ %
16. Single-family: _____ %
17. Multifamily and Mixed Use Properties: _____ %
4
<PAGE>
AFC MORTGAGE LOAN ASSET BACKED CERTIFICATES, SERIES 1996-3
ATTACHMENT A TO SUBSEQUENT TRANSFER INSTRUMENT
NUMBER ONE FOR SUB-POOL 2
Series 1996-3
September 27, 1996
A.
1. Subsequent Cut-off Date: September 26, 1996
2. Pricing Date:
3. Subsequent Transfer Date: September 27, 1996
4. Aggregate Principal Balance of the Subsequent
Mortgage Loans as of the Subsequent Cut-off Date: $18,663,345.48
5. Purchase Price: 100.00%
B.
As to all the Subsequent Mortgage Loans the subject of this Instrument:
1. Shortest original term to maturity: 360 months
2. Longest original term to maturity: 360 months
3. Minimum Gross Margin: 3.75%
4. Greatest LTV: 90.00%
5. Largest Principal Balance: $420,000.00
[As to the final transfer of Subsequent Mortgage Loans:]
6. Weighted Average Term since Origination: _____
7. September 1996 first payment date: _____
8. WA Gross Margin of all Mortgage Loans: _____ %
9. WAC of all Mortgage Loans: _____ %
10. WAM of all Mortgage Loans: _____ %
11. Maximum Weighted average LTV: _____ %
12. Largest Principal Balance: $________
13. Non-owner occupied Mortgaged Properties: _____ %
14. Maximum zip code concentration: _____ %
15. Condominiums: _____ %
16. Single-family: _____ %
17. Multifamily and Mixed Use Properties: _____ %
5
<PAGE>
ADDITION NOTICE
Date: September 26, 1996
LaSalle National Bank
135 South LaSalle Street
Chicago, Illinois 60603
Re: Pooling and Servicing Agreement, dated as of September 1,
1996, between Superior Bank FSB, as seller (the "Depositor"),
LaSalle National Bank as trustee (the "Trustee") and Lee
Servicing Company, a division of the Depositor, as servicer,
relating to AFC Mortgage Loan Asset Backed Certificates,
Series 1996-3 Sub-Pool 1
-------------------------------------------------------------
Ladies and Gentlemen:
Pursuant to Section 2.10 of the above-captioned Pooling and
Servicing Agreement, the Depositor has designated the Subsequent Mortgage Loans
to be sold to the Trust Fund on September 27, 1996, with an aggregate principal
balance of $25,000,000.00*. Capitalized terms not otherwise defined herein have
the meaning set forth in the Pooling and Servicing Agreement.
Please acknowledge your receipt of this notice by countersigning the
enclosed copy in the space indicated below and returning it to the attention of
the undersigned.
Very truly yours,
*Approximate
SUPERIOR BANK FSB
By:/s. John Soricelli
--------------------------
Name: John A. Soricelli
Title: Vice President
ACKNOWLEDGED AND AGREED:
LASALLE NATIONAL BANK
By: /s/ Shashank Mishra
------------------------
Name: Shashank Mishra
Title: Vice President
Date: September 27, 1996
<PAGE>
ADDITION NOTICE
Date: September 26, 1996
LaSalle National Bank
135 South LaSalle Street
Chicago, Illinois 60603
Re: Pooling and Servicing Agreement, dated as of September 1,
1996, between Superior Bank FSB, as seller (the "Depositor"),
LaSalle National Bank as trustee (the "Trustee") and Lee
Servicing Company, a division of the Depositor, as servicer,
relating to AFC Mortgage Loan Asset Backed Certificates,
Series 1996-3 Sub-Pool 2
------------------------------------------------------------
Ladies and Gentlemen:
Pursuant to Section 2.10 of the above-captioned Pooling and
Servicing Agreement, the Depositor has designated Subsequent Mortgage Loans to
be sold to the Trust Fund on September 27, 1996, with an aggregate principal
balance of $18,500,000.00*. Capitalized terms not otherwise defined herein have
the meaning set forth in the Pooling and Servicing Agreement.
Please acknowledge your receipt of this notice by countersigning the
enclosed copy in the space indicated below and returning it to the attention of
the undersigned.
Very truly yours,
*Approximate
SUPERIOR BANK FSB
By:/s/ John Soricelli
--------------------------
Name: John A. Soricelli
Title: Vice President
ACKNOWLEDGED AND AGREED:
LASALLE NATIONAL BANK
By: /s/ Shashank Mishra
-------------------------
Name: Shashank Mishra
Title: Vice President
Date: September 27, 1996
<PAGE>
OFFICER'S CERTIFICATE
I, William Bracken hereby certify that I am the duly elected Senior
Vice President and Chief Financial Officer of Superior Bank FSB, a federally
chartered stock savings bank (the "Depositor"), and further, to the best of my
knowledge and after due inquiry, as follows:
Each condition precedent specified in Section 2.10(b), Section
2.10(c) and Section 2.10(d) for the Subsequent Mortgage Loans of the
Pooling and Servicing Agreement, dated as of September 1, 1996, among the
Depositor, Lee Servicing Company, a division of Superior Bank FSB, and
LaSalle National Bank, as Trustee (the "Pooling and Servicing Agreement")
and each condition precedent specified in Subsequent Transfer Instrument
has been satisfied by the Depositor.
Capitalized terms not otherwise defined herein have the meanings set
forth in the Pooling and Servicing Agreement.
IN WITNESS WHEREOF, I have hereunto signed my name.
Dated: September 27, 1996 By: /s/ William C. Bracken
-----------------------------
Name: William C. Bracken
Title: Senior Vice President and
Chief Financial Officer
<PAGE>
Alliance Funding Company Page 1 9/27/96
A division of Superior Bank FSB
Sale Schedule
1996-3 Class 1 - 1st Subsequent Transfer of
Fixed Rate Mortgages - Settlement 9/27/96
<TABLE>
<CAPTION>
Zip
Sale ID Account Name Address City State Code
- ------------------------------------------------------------------------------------------------------------------------------------
<C> <C> <S> <C> <C> <C> <C>
ML671 10266107214 CRUZ FRANCISCO 102-26 134TH STREET RICHMOND HILL NY 11419
ML671 10266115348 VALDEZ DAVID G 250 WEST MACARTHUR TUCSON AZ 85714
ML671 10266117104 WIDERMAN DAVID E 2381 GLOVER DRIVE MOUNT AIRY MD 21771
ML671 10266118666 KAPAROS LITSA 45 EBONY COURT BROOKLYN NY 11229
ML671 10266119148 KELLY ROBERT 781 ELM AVENUE RIVER EDGE NJ 07661
ML671 10266119192 SIMMONS BERNICE 812 BERGEN STREET BROOKLYN NY 11238
ML671 10266119196 MARTIN DELLA 190 BEECHWOOD AVENUE MOUNT VERNON NY 10553
ML671 10266119414 HARRIGAN SWINSTON C 170 PARSONS AVENUE FREEPORT NY 11520
ML671 10266119529 BINETTE FRANCOIS DEJEAN 108-20 217TH PLACE QUEENS VILLAGE NY 11429
ML671 10266119945 MCGRIFF BARBARA 424 PARK PLACE BROOKLYN NY 11238
ML671 10266119952 JOSEPH ROBERT 60 FOREST STREET STATEN ISLAND NY 10314
ML671 10266119996 MELI STEPHEN C 3629 NE OLYMPIC ST HILLSBORO OR 97124
ML671 10266120143 STEWART BERNARD 1969 PACIFIC STREET BROOKLYN NY 11233
ML671 10266120512 CHESSIE JOSEPH M 315 3RD STREET GOLD BAR WA 98251
ML671 10266120690 KORDISH WILLIAM A 2349 WEST 5TH STREET CLEVELAND OH 44113
ML671 10266120902 SMITH ERNEST R 180 HAMILTON DRIVE VERNON CT 06066
ML671 10266120931 WOHLFEIL GORDON L 7920 149TH STREET NORTHWEST GIG HARBOR WA 98329
ML671 10266121072 AVRAMOV LEPA 71 DOWLING PARKWAY WEST PATERSON NJ 07424
ML671 10266121106 ROCCO JAMES 645 UNDERCLIFF AVENUE EDGEWATER NJ 07020
ML671 10266121137 LUCKENBAUGH DOUGLAS A 259 HOUSEROCK ROAD PEQUEA PA 17565
ML671 10266121362 CHANG FRITZ 2710 SOUTH JUDKINS STREET SEATTLE WA 98144
ML671 10266121394 ZELINSKY EUGENE J 59 WEST MAIN STREET RINGTOWN PA 17967
ML671 10266121603 HARTLEY ROBERT P 1451 SW 4TH STREET GRESHAM OR 97080
ML671 10266121803 GANZ DAVID 1458 EAST 14TH STREET BROOKLYN NY 11230
ML671 10266121847 FRISCHKNECHT FRED G 575 NORTH 300 WEST MANTI UT 84642
ML671 10266121858 YARDLEY CHARLES M 9637 N 1ST AVENUE PHOENIX AZ 85021
ML671 10266121952 HETRICK ARTHUR C 17901 S PLACITA OCTUBRE GREEN VALLEY AZ 85614
ML671 10266122153 RANDAZZO SALVATORE 4536 BRADY LANE PALM BEACH GARDENS FL 33418
ML671 10266122346 SCHRAGER LONDA 19 VERMONT STREET MELVILLE NY 11747
ML671 10266122555 NAMER MOISES W 3621 WILSON COVE COURT LITHONIA GA 30058
ML671 10266122817 DUCA ANTHONY 102 EAST 21ST AVENUE NORTH WILDWOOD NJ 08260
ML671 10266122940 SHERR ALAN 5 CATHY COURT NORTHPORT NY 11768
ML671 10266123119 MITCHELL WILLIE J 506 FOUNTAIN MESA ROAD FOUNTAIN CO 80817
ML671 10266123183 LESTER PATRICIA M 206 BATH STREET ELYRIA OH 44035
ML671 10266123242 PESSOA CAROL C 8603 RUGBY STREET PHILADELPHIA PA 19150
ML671 10266123331 CRAWFORD ROBERT G RTE 2 BOX 455 FORSYTH GA 31029
ML671 10266123373 REED VICTOR J 878 ARTIS DRIVE DOVER DE 19901
ML671 10266123397 WHITE STEPHEN M 1528 DANBY ROAD DANBY NY 14850
ML671 10266123677 GRIPPA FRED P II 31445 SHOSHONE WAY OAK CREEK CO 80467
ML671 10266123765 ITZKO STEVEN Z 6446 AKRON STREET PHILADELPHIA PA 19149
ML671 10266123795 PETTIT ALLEN E 2230 PARK AVENUE WASHINGTON PA 15301
ML671 10266124331 GABOUREL GEORGE 1285 ST MARKS AVENUE BROOKLYN NY 11213
ML671 10266124338 MADRID RICK D 4349 SOUTH EARLY DUKE STREET WEST VALLEY CITY UT 84120
ML671 10266124343 WOOLSEY MICHAEL B 5256 SOUTH 3400 WEST ROY UT 84067
ML671 10266124550 DEFINE JUNE 444 CRESCENT ROAD WILKES-BARRE PA 18702
ML671 10266124594 OMALLEY RICHARD 300 JOHNSON AVENUE RONKONKOMA NY 11779
ML671 10266124618 GOOLD GREGORY B 13063 SOUTH 2590 WEST RIVERTON UT 84065
ML671 10266124634 GARDNER LEONARD 1304 WOODMANOR DRIVE RALEIGH NC 27614
ML671 10266124696 WILLIAMS VERNON LEE 5710 HIGH TOR HILL COLUMBIA MD 21045
ML671 10266124713 COVERDALE GEORGIA ANN 203 LIBERTY STREET HARRINGTON DE 19952
ML671 10266124772 SAVAGE TRACY 4565 SW JOSHUA STREET TUALATIN OR 97062
ML671 10266124873 KONASIEWICZ ANN F 65 WASHINGTON STREET LODI NJ 07644
ML671 10266124879 STONE BYRON M 3342 KENSINGTON DRIVE EL DORADO HILLS CA 95762
ML671 10266124978 NEESE MARTIN FRANKLIN 7738 HIGHWAY 120 BUCHANAN GA 30113
ML671 10266124995 DEEN SAMUEL 9059 184TH PLACE JAMAICA NY 11423
ML671 10266125007 JOJOLA VICTOR L 2417 NORTHWEST CIRCLE NW ALBUQUERQUE NM 87104
ML671 10266125010 JUSTESEN JAMES S 2709 WEST BRADFORD CIRCLE WEST VALLEY CITY UT 84119
ML671 10266125257 KOPPERUD RUSSELL M 13049 STEELE DRIVE THORNTON CO 80241
ML671 10266125316 FAIR RAYMOND P 209 E 14TH AVE HOMESTEAD PA 15120
ML671 10266125392 HERRERA ROSEMARIE 19 RYDER AVENUE DIX HILLS NY 11746
ML671 10266125401 HOWELL HILDEGARDE M 213 OLD TURNPIKE CALIFON NJ 07830
ML671 10266125477 ALLEN ROBERT L 3130 JASPER CIRCLE RESCUE CA 95672
<CAPTION>
Principal Cut-off Date First
Balance at Principal Payment Maturity Rem
Sale ID Account Origination Balance Date Date Term
- -----------------------------------------------------------------------------------------------------------------------------
<C> <C> <C> <C> <C> <C> <C>
ML671 10266107214 130,000.00 129,935.46 07/05/96 06/05/11 176.25
ML671 10266115348 44,000.00 43,969.02 09/13/96 08/13/11 178.52
ML671 10266117104 78,000.00 77,963.59 08/17/96 07/17/11 177.63
ML671 10266118666 73,000.00 73,000.00 08/19/96 07/19/11 177.70
ML671 10266119148 152,000.00 152,000.00 09/22/96 08/22/11 178.82
ML671 10266119192 180,000.00 179,775.69 08/02/96 07/02/11 177.14
ML671 10266119196 209,000.00 209,000.00 07/28/96 06/28/26 357.01
ML671 10266119414 18,700.00 18,700.00 09/19/96 08/19/11 178.72
ML671 10266119529 131,250.00 131,222.28 09/05/96 08/05/11 178.26
ML671 10266119945 128,000.00 127,792.01 09/01/96 08/01/16 238.13
ML671 10266119952 58,000.00 57,613.83 08/09/96 07/09/06 117.37
ML671 10266119996 16,738.00 16,738.00 09/05/96 08/05/11 178.26
ML671 10266120143 132,000.00 132,000.00 09/09/96 08/09/11 178.39
ML671 10266120512 30,375.00 30,375.00 09/28/96 08/28/11 179.01
ML671 10266120690 52,000.00 52,000.00 09/01/96 08/01/11 178.13
ML671 10266120902 23,500.00 23,500.00 10/03/96 09/03/11 179.21
ML671 10266120931 70,000.00 70,000.00 10/03/96 09/03/11 179.21
ML671 10266121072 132,000.00 131,842.40 08/09/96 07/09/16 237.37
ML671 10266121106 175,000.00 174,314.15 09/01/96 08/01/11 178.13
ML671 10266121137 181,350.00 181,350.00 09/05/96 08/05/26 358.26
ML671 10266121362 99,900.00 99,900.00 09/09/96 08/09/11 178.39
ML671 10266121394 55,250.00 55,201.44 08/12/96 07/12/11 177.47
ML671 10266121603 15,000.00 15,000.00 09/13/96 08/13/11 178.52
ML671 10266121803 100,000.00 100,000.00 09/19/96 08/19/11 178.72
ML671 10266121847 13,240.00 13,240.00 08/15/96 07/15/11 177.57
ML671 10266121858 21,400.00 21,334.95 08/17/96 07/17/11 177.63
ML671 10266121952 33,988.00 33,988.00 09/12/96 08/12/16 238.49
ML671 10266122153 49,200.00 49,195.26 09/23/96 08/23/11 178.85
ML671 10266122346 40,800.00 40,800.00 09/28/96 08/28/11 179.01
ML671 10266122555 24,600.00 24,593.27 08/15/96 07/15/11 177.57
ML671 10266122817 50,000.00 50,000.00 09/07/96 08/07/11 178.32
ML671 10266122940 60,000.00 60,000.00 10/04/96 09/04/11 179.24
ML671 10266123119 15,000.00 15,000.00 10/01/96 09/01/11 179.15
ML671 10266123183 17,000.00 16,964.93 09/20/96 08/20/11 178.75
ML671 10266123242 65,700.00 65,700.00 09/28/96 08/28/16 239.01
ML671 10266123331 55,100.00 55,100.00 09/12/96 08/12/11 178.49
ML671 10266123373 18,025.00 18,025.00 10/01/96 09/01/11 179.15
ML671 10266123397 52,500.00 52,500.00 09/23/96 08/23/11 178.85
ML671 10266123677 160,000.00 159,967.15 09/23/96 08/23/26 358.85
ML671 10266123765 62,100.00 62,100.00 09/07/96 08/07/16 238.32
ML671 10266123795 60,520.00 60,520.00 10/01/96 09/01/26 359.15
ML671 10266124331 57,000.00 56,943.25 09/15/96 08/15/16 238.59
ML671 10266124338 13,603.00 13,581.02 09/13/96 08/13/11 178.52
ML671 10266124343 30,500.00 30,407.77 09/06/96 08/06/11 178.29
ML671 10266124550 85,000.00 84,707.14 10/03/96 09/03/11 179.21
ML671 10266124594 38,500.00 38,500.00 10/04/96 09/04/11 179.24
ML671 10266124618 31,000.00 30,946.74 09/08/96 08/08/11 178.36
ML671 10266124634 50,000.00 50,000.00 09/27/96 08/27/11 178.98
ML671 10266124696 23,700.00 23,685.21 09/20/96 08/20/11 178.75
ML671 10266124713 16,131.00 16,075.98 08/26/96 07/26/11 177.93
ML671 10266124772 216,750.00 216,748.96 09/16/96 08/16/26 358.62
ML671 10266124873 35,000.00 35,000.00 09/27/96 08/27/11 178.98
ML671 10266124879 24,700.00 24,700.00 09/06/96 08/06/11 178.29
ML671 10266124978 38,000.00 37,926.30 09/05/96 08/05/11 178.26
ML671 10266124995 23,500.00 23,500.00 09/06/96 08/06/11 178.29
ML671 10266125007 18,917.00 18,917.00 10/01/96 09/01/11 179.15
ML671 10266125010 37,100.00 37,046.77 09/13/96 08/13/11 178.52
ML671 10266125257 29,620.00 29,620.00 09/27/96 08/27/11 178.98
ML671 10266125316 28,000.00 28,000.00 09/22/96 08/22/06 118.82
ML671 10266125392 220,000.00 220,000.00 09/27/96 08/27/11 178.98
ML671 10266125401 100,000.00 99,979.29 09/01/96 08/01/11 178.13
ML671 10266125477 172,000.00 172,000.00 09/01/96 08/01/11 178.13
<CAPTION>
Original Current Scheduled
Date LTV Mortgage Payment
Sale ID Account Due Ratio Rate Int & Prin
- --------------------------------------------------------------------------------------------------
ML671 10266107214 10/05/96 69.1 11.950 1,332.20
ML671 10266115348 10/13/96 80.0 10.500 486.38
ML671 10266117104 09/17/96 89.9 12.100 941.16
ML671 10266118666 09/19/96 71.4 12.500 899.74
ML671 10266119148 09/22/96 80.0 10.500 1,390.40
ML671 10266119192 10/02/96 78.2 11.200 1,741.44
ML671 10266119196 09/28/96 88.9 11.700 2,101.66
ML671 10266119414 09/19/96 90.0 11.400 217.26
ML671 10266119529 10/05/96 75.0 13.350 1,487.88
ML671 10266119945 10/01/96 55.6 10.650 1,290.85
ML671 10266119952 10/09/96 84.3 10.750 790.76
ML671 10266119996 10/05/96 75.0 12.750 209.03
ML671 10266120143 09/09/96 80.0 14.550 1,621.67
ML671 10266120512 09/28/96 79.4 14.500 414.77
ML671 10266120690 10/01/96 56.2 11.250 599.22
ML671 10266120902 10/03/96 89.8 12.500 289.64
ML671 10266120931 10/03/96 87.0 11.750 706.59
ML671 10266121072 10/09/96 75.4 10.750 1,340.10
ML671 10266121106 10/01/96 63.6 10.300 1,574.69
ML671 10266121137 10/05/96 90.0 10.500 1,658.88
ML671 10266121362 10/09/96 90.0 11.900 1,019.90
ML671 10266121394 10/12/96 65.0 11.700 555.58
ML671 10266121603 10/13/96 79.6 13.500 194.75
ML671 10266121803 09/19/96 64.6 10.750 1,120.95
ML671 10266121847 10/15/96 64.8 16.090 179.01
ML671 10266121858 10/17/96 71.7 14.700 295.13
ML671 10266121952 09/12/96 84.9 12.700 390.95
ML671 10266122153 10/23/96 80.0 11.990 505.70
ML671 10266122346 09/28/96 80.0 13.750 536.51
ML671 10266122555 10/15/96 89.2 12.200 256.83
ML671 10266122817 10/07/96 42.0 11.650 500.88
ML671 10266122940 10/04/96 84.1 10.750 672.57
ML671 10266123119 10/01/96 79.6 14.250 180.70
ML671 10266123183 10/20/96 26.1 10.850 191.62
ML671 10266123242 09/28/96 90.0 11.250 689.36
ML671 10266123331 10/12/96 84.8 12.950 607.36
ML671 10266123373 10/01/96 85.3 12.990 227.94
ML671 10266123397 09/23/96 70.0 10.250 572.22
ML671 10266123677 10/23/96 63.4 10.750 1,493.57
ML671 10266123765 09/07/96 90.0 12.400 701.17
ML671 10266123795 10/01/96 85.0 10.750 564.94
ML671 10266124331 10/15/96 53.5 9.500 531.31
ML671 10266124338 10/13/96 79.9 15.850 181.28
ML671 10266124343 10/06/96 82.6 13.950 360.18
ML671 10266124550 11/03/96 45.9 10.750 793.46
ML671 10266124594 10/04/96 29.8 9.700 406.69
ML671 10266124618 10/08/96 77.7 11.600 309.36
ML671 10266124634 09/27/96 87.9 10.950 566.73
ML671 10266124696 10/20/96 85.8 12.750 295.97
ML671 10266124713 10/26/96 90.0 12.600 199.87
ML671 10266124772 10/16/96 85.0 13.250 2,440.12
ML671 10266124873 09/27/96 77.9 11.250 339.94
ML671 10266124879 09/06/96 85.3 11.500 288.54
ML671 10266124978 10/05/96 74.5 11.700 448.76
ML671 10266124995 10/06/96 79.7 11.990 281.89
ML671 10266125007 10/01/96 80.0 14.250 255.11
ML671 10266125010 10/13/96 89.9 12.600 398.83
ML671 10266125257 09/27/96 89.9 12.250 360.27
ML671 10266125316 09/22/96 70.0 10.500 377.82
ML671 10266125392 09/27/96 61.4 10.500 2,012.43
ML671 10266125401 10/01/96 44.4 10.740 932.73
ML671 10266125477 10/01/96 80.0 11.800 1,742.78
</TABLE>
<PAGE>
Alliance Funding Company Page 2 9/27/96
A division of Superior Bank FSB
Sale Schedule
1996-3 Class 1 - 1st Subsequent Transfer of
Fixed Rate Mortgages - Settlement 9/27/96
<TABLE>
<CAPTION>
Zip
Sale ID Account Name Address City State Code
- ------------------------------------------------------------------------------------------------------------------------------------
<C> <C> <S> <C> <C> <C> <C>
ML671 10266125484 MELDRUM JEFF 1424 WEST 10690 SOUTH SOUTH JORDAN UT 84095
ML671 10266125485 FISH DAVID R 291 BARLOW ROAD FAIRFIELD CT 06430
ML671 10266125520 FERDINAND PETER 5909 MORNING BIRD LANE COLUMBIA MD 21045
ML671 10266125525 EDDLEMAN LANCE L 40 SOUTH 700 EAST PLEASANT GROVE UT 84062
ML671 10266125560 GRANT ERIC 1408 LEISTER DRIVE SILVER SPRING MD 20904
ML671 10266125588 KOHART EDWARD THOMAS 18164 SE FOSTER ROAD PORTLAND OR 97236
ML671 10266125589 CARMODY KATHLEEN M 5620 EAST CORNELL AVENUE DENVER CO 80222
ML671 10266125637 UEBELHACK JON W 6231 SOUTH 1250 EAST SALT LAKE CITY UT 84121
ML671 10266125706 HEINZMANN TINA S 51 MIMOSA CIRCLE RIDGEFIELD CT 06877
ML671 10266125740 SIMS HERMAN 1234 W. 77TH STREET CHICAGO IL 60620
ML671 10266125755 EICHER JOHN A 454 N. CLARK STREET NAPPANEE IN 46550
ML671 10266125756 RESPRESS IDA BELL 11913 ABLEWHITE AVENUE CLEVELAND OH 44108
ML671 10266125817 PIWKIEWICZ DEBRA J 4234 N BERNARD CHICAGO IL 60618
ML671 10266125867 KNAUF JOHN MARTIN 3226 BIRCH ROAD PHILADELPHIA PA 19154
ML671 10266125905 JAMES BUELAH 4402 ATWOOD DRIVE TAMPA FL 33610
ML671 10266125965 FISHER LARRY K 3835 WEST 77TH AVENUE WESTMINSTER CO 80030
ML671 10266126271 LENGYEL THOMAS D 1114 WEST MAPLE STREET VALLEY VIEW PA 17983
ML671 10266126308 OPFER HARVEY E 729 RUDD AVENUE CANON CITY CO 81212
ML671 10266126386 MILLER PETER J 10228 PAGE ROAD STREETSBORO OH 44241
ML671 10266126442 CARLSEN THOMAS R 6647 SOUTH COLEUS COURT WEST JORDAN UT 84084
ML671 10266126528 WOLFF EILEEN G 6994 ORCHARD LANE HANOVER PARK IL 60103
ML671 10266126535 PATTON MARGARET L 641 E. 34TH STREET INDIANAPOLIS IN 46205
ML671 10266126609 JACKSON VICTORIA 6922 LYNFORD STREET PHILADELPHIA PA 19149
ML671 10266126774 HOLZER RUDOLPH 1227 SE 17TH STREET CAPE CORAL FL 33990
ML671 10266126780 COULTER HOWARD M 14001 CONWAY DRIVE OREGON CITY OR 97045
ML671 10266126782 JENKINS MICHAEL L 7249 WEST SIDNEY CIRCLE MAGNA UT 84044
ML671 10266126808 JELNIO GLEB A 8024 E VIA SIERRA SCOTTSDALE AZ 85258
ML671 10266126853 MARTELL GEORGE A 50 A STREET HELPER UT 84526
ML671 10266126901 SCHNASE JAMES E 4458 IBERIS STREET NE SALEM OR 97305
ML671 10266126925 SCANDALIATO STEVEN J 129 HOEDOWN CIRCLE FOUNTAIN CO 80817
ML671 10266127040 STICKLER KENNETH R 2511 PRINCETON AVE SANFORD FL 32771
ML671 10266127049 BAKER RONALD J 10133 COLEBROOK AVE POTOMAC MD 20854
ML671 10266127075 HOUSEKEEPER DENNIS HAL 495 EAST 350 SOUTH LEHI UT 84043
ML671 10266127145 HAYES HAL B 125 WEST 1340 SOUTH FARMINGTON UT 84025
ML671 10266127258 CARPENZANO CHRISTINA M 563 SAN JOSE STREET N FORT MYERS FL 33903
ML671 10266127297 JACKSON DENNIS E 31628 76TH STREET SALEM WI 53168
ML671 10266127298 SHARRON PAUL E 4655 KENT ROAD STOW OH 44224
ML671 10266127331 LANGLEY JEREMIAH 393-395 CHAMBERLINE AVENUE BRIDGEPORT CT 06606
ML671 10266127360 PITCHFORD JAMES EDWARD 514 RODRIGUEZ COURT FAYETTEVILLE NC 28303
ML671 10266127371 BOCK PHILIP MICHAEL 372 FOREST HILL BLVD WEST PALM BEACH FL 33405
ML671 10266127441 FURLONG THOMAS R 345 SOUTH 700 EAST CLEARFIELD UT 84015
ML671 10266127442 UITERT TONY VAN 144 ROSS DRIVE CLEARFIELD UT 84015
ML671 10266127488 BLUTH ROBERT G 12242 N 74TH STREET SCOTTSDALE AZ 85260
ML671 10266127538 VITRO JOHN EDWARD 168 CHERRY AVENUE OREGON CITY OR 97045
ML671 10266127559 PILIU SATEKI F 3242 SOUTH BROADWAY STREET MAGNA UT 84044
ML671 10266127560 RUEBEL JEFFREY CLAY 9280 RALEIGH STREET WESTMINSTER CO 80030
ML671 10266127562 MACK ROBERT E 3987 NEELON DR S SALEM OR 97302
ML671 10266127652 BREGG DOUGLAS M 1807 CHICKASAW TRAIL VALRICO FL 33594
ML671 10266127688 CLARK SHANE 52 SOUTH STARKS LANE WALLSBURG UT 84082
ML671 10266127800 MACK ROBERT EDWARD 2215 CHEMEKETA STREET NE SALEM OR 97301
ML671 10266127838 ALEXANDER CANDY 520 PONDER AVE SARASOTA FL 34232
ML671 10266127857 HANLEY STEPHEN V 29-35 DOUGLAS LANE PUEBLO CO 81001
ML671 10266127865 WASINGER LINDA L 24405 HANDLE ROAD CALHAN CO 80808
ML671 10266127945 KELESYAN SUSAN E 7346 118TH TERRACE N LARGO FL 34643
ML671 10266127998 MILLER MARY J 1245 EAST 2500 NORTH NORTH OGDEN UT 84414
ML671 10266128102 PETRILLI ANTHONY 955 S SPRINGFIELD AVE UN C710 SPRINGFIELD NJ 07081
ML671 10266128111 WALSH DORIS L 181 ANGEL ROAD CORINTH NY 12822
ML671 10266128120 WESTERFIELD JERALD 109 S JUPITER AVENUE CLEARWATER FL 34615
ML671 10266128133 FINK JOSEPH E JR 27 MCNAUGHTON DR DUNCANNON PA 17020
ML671 10266128163 PERRY RICHARD J JR 10477 SOUTH LEILANI DRIVE SANDY UT 84070
ML671 10266128172 BURGON MICHAEL A 954 EAST LA CASA DRIVE SANDY UT 84094
ML671 10266128188 CHILDRESS DEBRA L 1164 LEWISTON ST AURORA CO 80011
<CAPTION>
Principal Cut-off Date First
Balance at Principal Payment Maturity Rem
Sale ID Account Origination Balance Date Date Term
- -----------------------------------------------------------------------------------------------------------------------------
<C> <C> <C> <C> <C> <C> <C>
ML671 10266125484 76,677.00 76,592.49 09/14/96 08/14/11 178.55
ML671 10266125485 361,000.00 361,000.00 10/01/96 09/01/11 179.15
ML671 10266125520 88,000.00 88,000.00 10/01/96 09/01/11 179.15
ML671 10266125525 21,300.00 21,280.68 09/09/96 08/09/11 178.39
ML671 10266125560 61,400.00 61,400.00 10/05/96 09/05/11 179.28
ML671 10266125588 31,000.00 30,902.31 09/21/96 08/21/11 178.78
ML671 10266125589 34,680.00 34,680.00 10/04/96 09/04/16 239.24
ML671 10266125637 26,250.00 26,211.69 09/07/96 08/07/11 178.32
ML671 10266125706 42,000.00 42,000.00 09/27/96 08/27/11 178.98
ML671 10266125740 70,000.00 69,880.41 09/05/96 08/05/16 238.26
ML671 10266125755 67,500.00 67,409.96 09/01/96 08/01/16 238.13
ML671 10266125756 44,200.00 44,200.00 09/08/96 08/08/16 238.36
ML671 10266125817 55,000.00 54,966.56 09/01/96 08/01/11 178.13
ML671 10266125867 46,000.00 46,000.00 10/01/96 09/01/11 179.15
ML671 10266125905 41,600.00 41,557.41 09/23/96 08/23/16 238.85
ML671 10266125965 35,000.00 35,000.00 10/01/96 09/01/11 179.15
ML671 10266126271 72,900.00 72,842.57 09/13/96 08/13/26 358.52
ML671 10266126308 116,000.00 116,000.00 10/03/96 09/03/11 179.21
ML671 10266126386 40,000.00 39,831.34 09/16/96 08/16/11 178.62
ML671 10266126442 22,750.00 22,750.00 09/20/96 08/20/11 178.75
ML671 10266126528 25,000.00 24,923.08 09/27/96 10/27/11 180.98
ML671 10266126535 53,600.00 53,416.55 09/16/96 08/16/16 238.62
ML671 10266126609 52,500.00 52,500.00 09/27/96 08/27/11 178.98
ML671 10266126774 54,000.00 54,000.00 10/01/96 09/01/16 239.15
ML671 10266126780 165,600.00 165,470.14 09/01/96 08/01/11 178.13
ML671 10266126782 29,035.00 29,035.00 09/27/96 08/27/11 178.98
ML671 10266126808 187,800.00 187,800.00 09/08/96 08/08/11 178.36
ML671 10266126853 55,400.00 55,327.44 09/09/96 08/09/11 178.39
ML671 10266126901 43,000.00 43,000.00 09/28/96 08/28/11 179.01
ML671 10266126925 23,000.00 23,000.00 09/28/96 08/28/11 179.01
ML671 10266127040 37,500.00 37,500.00 09/28/96 08/28/26 359.01
ML671 10266127049 111,250.00 111,250.00 10/01/96 09/01/11 179.15
ML671 10266127075 18,150.00 18,109.50 09/09/96 08/09/11 178.39
ML671 10266127145 31,500.00 31,500.00 10/01/96 09/01/11 179.15
ML671 10266127258 17,990.00 17,915.90 09/27/96 08/27/11 178.98
ML671 10266127297 29,500.00 29,500.00 10/01/96 09/01/16 239.15
ML671 10266127298 31,000.00 31,000.00 10/01/96 09/01/16 239.15
ML671 10266127331 55,000.00 55,000.00 09/28/96 08/28/11 179.01
ML671 10266127360 65,000.00 65,000.00 09/28/96 08/28/11 179.01
ML671 10266127371 13,597.00 13,597.00 09/27/96 08/27/11 178.98
ML671 10266127441 15,336.00 15,336.00 09/12/96 08/12/11 178.49
ML671 10266127442 14,311.00 14,311.00 08/25/96 07/25/11 177.90
ML671 10266127488 70,000.00 70,000.00 09/13/96 08/13/16 238.52
ML671 10266127538 23,425.00 23,425.00 09/09/96 08/09/11 178.39
ML671 10266127559 36,000.00 36,000.00 09/26/96 08/26/11 178.95
ML671 10266127560 117,000.00 117,000.00 09/19/96 08/19/26 358.72
ML671 10266127562 38,875.00 38,875.00 10/01/96 09/01/16 239.15
ML671 10266127652 54,800.00 54,800.00 10/01/96 09/01/11 179.15
ML671 10266127688 40,000.00 40,000.00 09/23/96 08/23/11 178.85
ML671 10266127800 17,000.00 17,000.00 09/27/96 08/27/16 238.98
ML671 10266127838 52,500.00 52,500.00 10/01/96 09/01/11 179.15
ML671 10266127857 39,150.00 38,974.44 09/28/96 08/28/11 179.01
ML671 10266127865 57,200.00 57,200.00 09/28/96 08/28/11 179.01
ML671 10266127945 69,750.00 69,588.79 09/26/96 08/26/26 358.95
ML671 10266127998 13,000.00 12,990.77 09/05/96 08/05/11 178.26
ML671 10266128102 146,900.00 146,900.00 09/27/96 08/27/11 178.98
ML671 10266128111 67,300.00 67,300.00 10/03/96 09/03/11 179.21
ML671 10266128120 71,450.00 71,450.00 10/01/96 09/01/11 179.15
ML671 10266128133 36,300.00 36,300.00 09/21/96 08/21/11 178.78
ML671 10266128163 15,700.00 15,700.00 09/06/96 08/06/11 178.29
ML671 10266128172 49,000.00 49,000.00 10/01/96 09/01/11 179.15
ML671 10266128188 15,000.00 15,000.00 10/03/96 09/03/11 179.21
<CAPTION>
Original Current Scheduled
Date LTV Mortgage Payment
Sale ID Account Due Ratio Rate Int & Prin
- --------------------------------------------------------------------------------------------------
ML671 10266125484 10/14/96 82.2 13.700 890.35
ML671 10266125485 10/01/96 84.9 12.490 3,850.00
ML671 10266125520 10/01/96 80.0 14.000 1,042.69
ML671 10266125525 10/09/96 89.9 11.750 252.22
ML671 10266125560 10/05/96 89.9 11.740 726.66
ML671 10266125588 10/21/96 77.1 11.740 366.88
ML671 10266125589 10/04/96 85.0 13.240 412.25
ML671 10266125637 10/07/96 88.3 13.150 293.46
ML671 10266125706 09/27/96 82.4 12.750 456.41
ML671 10266125740 10/05/96 63.6 10.000 675.52
ML671 10266125755 10/01/96 90.0 9.900 646.92
ML671 10266125756 10/08/96 85.0 10.250 433.89
ML671 10266125817 11/01/96 36.1 11.750 555.18
ML671 10266125867 10/01/96 68.6 10.000 403.68
ML671 10266125905 10/23/96 79.8 10.750 422.34
ML671 10266125965 10/01/96 84.8 12.740 380.07
ML671 10266126271 10/13/96 90.0 10.990 693.69
ML671 10266126308 10/03/96 80.0 11.250 1,336.72
ML671 10266126386 10/16/96 64.5 12.250 486.52
ML671 10266126442 09/20/96 87.9 13.150 254.33
ML671 10266126528 10/27/96 68.1 12.100 300.48
ML671 10266126535 10/16/96 80.0 10.250 526.16
ML671 10266126609 09/27/96 70.0 13.750 611.68
ML671 10266126774 10/01/96 72.8 12.440 611.23
ML671 10266126780 10/01/96 80.0 10.990 1,575.80
ML671 10266126782 09/27/96 90.0 11.750 293.08
ML671 10266126808 10/08/96 75.4 11.250 1,824.03
ML671 10266126853 10/09/96 62.2 13.340 627.59
ML671 10266126901 09/28/96 72.9 11.750 509.18
ML671 10266126925 09/28/96 84.3 10.500 254.24
ML671 10266127040 09/28/96 68.1 10.850 352.88
ML671 10266127049 10/01/96 89.9 10.950 1,260.97
ML671 10266127075 10/09/96 85.0 13.700 210.75
ML671 10266127145 10/01/96 89.4 11.750 373.00
ML671 10266127258 10/27/96 79.9 13.990 239.46
ML671 10266127297 10/01/96 53.6 14.250 372.21
ML671 10266127298 10/01/96 89.9 12.000 341.34
ML671 10266127331 09/28/96 68.7 12.390 673.95
ML671 10266127360 09/28/96 84.5 10.400 714.49
ML671 10266127371 09/27/96 71.1 11.750 161.01
ML671 10266127441 10/12/96 80.0 15.590 220.87
ML671 10266127442 09/25/96 79.8 15.350 203.74
ML671 10266127488 09/13/96 88.9 12.250 783.00
ML671 10266127538 10/09/96 75.1 11.500 273.65
ML671 10266127559 09/26/96 78.4 14.250 433.69
ML671 10266127560 10/19/96 90.0 11.750 1,181.01
ML671 10266127562 10/01/96 89.8 11.750 421.29
ML671 10266127652 10/01/96 52.1 11.490 542.26
ML671 10266127688 09/23/96 38.2 13.750 525.99
ML671 10266127800 09/27/96 69.8 10.500 169.72
ML671 10266127838 10/01/96 75.0 11.250 509.91
ML671 10266127857 10/28/96 85.0 13.600 510.90
ML671 10266127865 09/28/96 65.0 10.990 649.77
ML671 10266127945 10/26/96 75.0 11.200 674.81
ML671 10266127998 10/05/96 22.8 11.350 150.63
ML671 10266128102 09/27/96 65.0 12.850 1,607.80
ML671 10266128111 10/03/96 77.3 11.250 653.66
ML671 10266128120 10/01/96 79.3 12.500 762.56
ML671 10266128133 09/21/96 89.9 11.020 413.04
ML671 10266128163 09/06/96 84.8 13.200 200.71
ML671 10266128172 10/01/96 77.9 11.750 494.61
ML671 10266128188 10/03/96 78.5 14.500 204.83
</TABLE>
<PAGE>
Alliance Funding Company Page 3 9/27/96
A division of Superior Bank FSB
Sale Schedule
1996-3 Class 1 - 1st Subsequent Transfer of
Fixed Rate Mortgages - Settlement 9/27/96
<TABLE>
<CAPTION>
Zip
Sale ID Account Name Address City State Code
- ------------------------------------------------------------------------------------------------------------------------------------
<C> <C> <S> <C> <C> <C> <C>
ML671 10266128198 ESTADT JOHN CHARLES 186 CAPE OWEN MANOR ROAD ELIZABETHTOWN NC 28337
ML671 10266128202 CAYTON JOHN E SR 114 NORTH ELM STREET MAXTON NC 28364
ML671 10266128259 BONDURICH JEFFREY L 10 12 HEMLOCK STREET PLAINS PA 18705
ML671 10266128272 DIXON DIANA KITT 3039 EDSON AVENUE BRONX NY 10466
ML671 10266128283 REIGENBORN JAMES CLARK 146 GLENN PLACE PUEBLO CO 81001
ML671 10266128294 ALEKSIN R MARK 2265 KENT DRIVE LARGO FL 34644
ML671 10266128300 WARRINGTON INEZ 9045 KING ROAD W FORT MYERS FL 33912
ML671 10266128301 MOSER REGINA 7651 SOUTH ESTES STREET LITTLETON CO 80123
ML671 10266128327 STEELE RICHARD J 610 PEAKVIEW ROAD BOULDER CO 80302
ML671 10266128356 FUNDRELLA MARGARET 124 FRANKLIN AVENUE VANDERGRIFT PA 15690
ML671 10266128395 STEVENS DELBERT L JR 8580 CRESCENT DRIVE WESTMINSTER CO 80030
ML671 10266128397 BITTER WARREN B 11648 SOUTH BEAR CANYON DRIVE DRAPER UT 84020
ML671 10266128399 CICCHESI EDWARD D 1030 THROGGS NECK EXPRESSWAY BRONX NY 10465
ML671 10266128480 BYTHEWAY WILLIAM EDWIN 3040 TROLLEY BRIDGE CIRCLE QUAKERTOWN PA 18951
ML671 10266128482 WARNER JAMES WILLIAM JR 3065 SOUTH JASMINE STREET DENVER CO 80222
ML671 10266128492 HIGGINBOTHAM ALBERT L 510 EAST MINNESOTA AVENUE MACCLENNY FL 32063
ML671 10266128578 WEINGART RUSSELL 5734 NORTH MEADE CHICAGO IL 60646
ML671 10266128624 GROOMES VESTORIA W 568 S HENLEY STREET SOUTHERN PINES NC 28387
ML671 10266128658 GREEK ANGELA E 9071 TYLER AVENUE JACKSONVILLE FL 32208
ML671 10266128689 LUND LARRY 812 EAST 400 NORTH BRIGHAM CITY UT 84302
ML671 10266128728 LOPEZ MARIO 4032-4034 TEJON STREET DENVER CO 80211
ML671 10266128758 JONES WILMA DEAN 606 DAISY LANE ROUND LAKE BEACH IL 60073
ML671 10266128773 BESS BARBARA D 6365 WOODS STREET SAINT CLOUD FL 34771
ML671 10266128781 LEE WILLIAM JR 6008 10TH STREET EAST BRADENTON FL 34203
ML671 10266128889 ADAMSON KAROL 5288 NEWTON STREET DENVER CO 80221
ML671 10266128891 ROBINSON JEAN 711 WEST ASHLAND AVENUE PLEASANTVILLE NJ 08232
ML671 10266128918 FRYE JAMES T 6625 SOUTH EVANS CHICAGO IL 60637
ML671 10266128968 EDWARDS JAMES E 4011 CASTLEWOOD ROAD CHARLOTTE NC 28209
ML671 10266128971 REDSHAW MICHELE M 203 161ST AVENUE REDINGTON BEACH FL 33708
ML671 10266129004 WARNOCK RICHARD E 550 SOUTH 1600 EAST SPANISH FORK UT 84660
ML671 10266129005 FUNDERBURK JOHN J JR 108 SILVER LOCH COURT MILLERSVILLE MD 21108
ML671 10266129044 IMOR RICHARD 69 CANDLE HILL ROAD NEW FAIRFIELD CT 06812
ML671 10266129079 WEBB LESLIE 1 COPPER BEACH LANE LEVITTOWN PA 19055
ML671 10266129103 HERN GARY WAYNE II 2885 WINTHROP AVENUE SAN RAMON CA 94583
ML671 10266129106 DOMSKY STEVEN 5645 MAVERICK STREET LAS VEGAS NV 89130
ML671 10266129130 DAVIS BRYAN F 1715 EAST WHITE AVENUE SALT LAKE CITY UT 84106
ML671 10266129185 GONZALES JOHNNY RAY 327 GARFIELD STREET FORT COLLINS CO 80524
ML671 10266129188 ANSAH MATTHEW E 1255 DANCING HORSE DR COLORADO SPRINGS CO 80919
ML671 10266129202 JORDAN RICHARD E 260 TYLER STREET TWIN FALLS ID 83301
ML671 10266129214 HOSSLER MICHAEL L 10950 W 41ST PL WHEATRIDGE CO 80033
ML671 10266129306 GONZALEZ JOSE L 222 THISTLE DRIVE SILVER SPRING MD 20901
ML671 10266129328 BANKS ROY D 1316 WEST 540 NORTH PLEASANT GROVE UT 84062
ML671 10266129397 MORRISON RICK S 6004 WEST BORAX AVENUE SALT LAKE CITY UT 84118
ML671 10266129517 THOMPSON HOLLIS LARELL 11586 WEST SAGEBRUSH CIRCLE THATCHER UT 84337
ML671 10266129628 RAMSEYER JEFFREY L 709 SE HALE PLACE GRESHAM OR 97080
ML671 10266129632 THOMPSON EDWARD G 2695 WINDING TRAIL DRIVE BOULDER CO 80304
ML671 10266129920 BENNETT RANDY L 546 WEST 2300 NORTH HARRISVILLE UT 84414
ML671 10266129923 CUMMINGS MICHAEL R 5153 HIGHWOOD DRIVE SALT LAKE CITY UT 84118
ML671 10266129932 PERKINS CLIFFORD ALAN 1450 ALVARADO DRIVE COLORADO SPRINGS CO 80910
ML671 10266130448 CHAPMAN RICHARD S 1515 SOUTH 1000 EAST CLEARFIELD UT 84015
ML671 10266130451 MEZA DANIELLE J 5336 EAST 130TH WAY THORNTON CO 80421
---------------------------------------------
175 Sale Total
<CAPTION>
Principal Cut-off Date First
Balance at Principal Payment Maturity Rem
Sale ID Account Origination Balance Date Date Term
- -----------------------------------------------------------------------------------------------------------------------------
<C> <C> <C> <C> <C> <C> <C>
ML671 10266128198 88,650.00 88,650.00 09/28/96 08/28/11 179.01
ML671 10266128202 23,322.00 23,140.67 09/27/96 08/27/06 118.98
ML671 10266128259 68,000.00 68,000.00 10/01/96 09/01/16 239.15
ML671 10266128272 126,000.00 126,000.00 09/01/96 08/01/26 358.13
ML671 10266128283 27,100.00 27,100.00 10/03/96 09/03/16 239.21
ML671 10266128294 66,200.00 66,200.00 10/01/96 09/01/11 179.15
ML671 10266128300 30,000.00 29,945.68 09/27/96 08/27/16 238.98
ML671 10266128301 31,500.00 31,500.00 09/20/96 08/20/11 178.75
ML671 10266128327 50,000.00 49,761.91 10/01/96 09/01/11 179.15
ML671 10266128356 28,000.00 28,000.00 10/01/96 09/01/06 119.15
ML671 10266128395 12,560.00 12,560.00 09/26/96 08/26/16 238.95
ML671 10266128397 52,000.00 52,000.00 10/03/96 09/03/11 179.21
ML671 10266128399 30,000.00 30,000.00 10/01/96 09/01/11 179.15
ML671 10266128480 57,750.00 57,750.00 10/01/96 09/01/11 179.15
ML671 10266128482 104,000.00 104,000.00 09/28/96 08/28/11 179.01
ML671 10266128492 29,000.00 29,000.00 10/01/96 09/01/11 179.15
ML671 10266128578 35,800.00 35,600.12 09/26/96 08/26/16 238.95
ML671 10266128624 39,000.00 39,000.00 10/05/96 09/05/11 179.28
ML671 10266128658 38,000.00 37,901.52 10/01/96 09/01/11 179.15
ML671 10266128689 29,376.00 29,359.17 09/09/96 08/09/11 178.39
ML671 10266128728 18,000.00 18,000.00 09/28/96 08/28/11 179.01
ML671 10266128758 92,200.00 91,916.33 09/27/96 08/27/16 238.98
ML671 10266128773 29,950.00 29,950.00 10/01/96 09/01/06 119.15
ML671 10266128781 14,000.00 14,000.00 10/01/96 09/01/11 179.15
ML671 10266128889 20,700.00 20,700.00 10/04/96 09/04/11 179.24
ML671 10266128891 79,200.00 79,200.00 10/01/96 09/01/11 179.15
ML671 10266128918 32,000.00 32,000.00 10/01/96 09/01/16 239.15
ML671 10266128968 74,297.00 74,297.00 10/05/96 09/05/11 179.28
ML671 10266128971 26,200.00 26,200.00 09/28/96 08/28/11 179.01
ML671 10266129004 26,500.00 26,500.00 09/13/96 08/13/11 178.52
ML671 10266129005 80,320.00 80,320.00 10/04/96 09/04/11 179.24
ML671 10266129044 100,000.00 100,000.00 10/03/96 09/03/11 179.21
ML671 10266129079 27,400.00 27,400.00 10/01/96 09/01/16 239.15
ML671 10266129103 43,536.00 43,536.00 09/23/96 08/23/11 178.85
ML671 10266129106 13,500.00 13,500.00 09/26/96 08/26/11 178.95
ML671 10266129130 21,590.00 21,590.00 10/03/96 09/03/11 179.21
ML671 10266129185 108,000.00 108,000.00 10/03/96 09/03/26 359.21
ML671 10266129188 48,328.00 48,328.00 10/03/96 09/03/11 179.21
ML671 10266129202 42,000.00 42,000.00 10/01/96 09/01/16 239.15
ML671 10266129214 23,800.00 23,800.00 10/04/96 09/04/11 179.24
ML671 10266129306 42,740.00 42,740.00 10/03/96 09/03/16 239.21
ML671 10266129328 30,000.00 30,000.00 10/03/96 09/03/11 179.21
ML671 10266129397 13,500.00 13,500.00 09/16/96 08/16/11 178.62
ML671 10266129517 26,718.00 26,670.64 09/16/96 08/16/11 178.62
ML671 10266129628 44,000.00 44,000.00 09/28/96 08/28/11 179.01
ML671 10266129632 51,000.00 51,000.00 09/28/96 08/28/11 179.01
ML671 10266129920 17,747.00 17,747.00 09/21/96 08/21/11 178.78
ML671 10266129923 14,073.00 14,025.09 09/21/96 08/21/11 178.78
ML671 10266129932 18,000.00 18,000.00 09/28/96 08/28/11 179.01
ML671 10266130448 79,300.00 79,300.00 10/03/96 09/03/26 359.21
ML671 10266130451 117,800.00 117,800.00 10/04/96 09/04/11 179.24
------------------------------------------------------------ -------------
175 10,228,590.00 10,222,997.02 211.43
<CAPTION>
Original Current Scheduled
Date LTV Mortgage Payment
Sale ID Account Due Ratio Rate Int & Prin
- --------------------------------------------------------------------------------------------------
ML671 10266128198 09/28/96 90.0 11.150 1,015.96
ML671 10266128202 10/27/96 90.0 11.950 333.93
ML671 10266128259 10/01/96 80.0 13.990 845.10
ML671 10266128272 10/01/96 90.0 10.750 1,176.19
ML671 10266128283 10/03/96 89.6 12.250 303.13
ML671 10266128294 10/01/96 79.9 11.750 668.23
ML671 10266128300 10/27/96 40.0 11.990 330.12
ML671 10266128301 09/20/96 74.6 11.000 299.98
ML671 10266128327 11/01/96 71.2 11.750 592.07
ML671 10266128356 10/01/96 47.4 11.250 389.67
ML671 10266128395 09/26/96 79.8 14.000 156.19
ML671 10266128397 10/03/96 89.8 12.250 632.48
ML671 10266128399 10/01/96 60.8 12.990 379.38
ML671 10266128480 10/01/96 84.8 12.250 605.16
ML671 10266128482 09/28/96 78.1 11.750 1,049.79
ML671 10266128492 10/01/96 62.2 12.490 357.24
ML671 10266128578 10/26/96 89.9 11.250 375.63
ML671 10266128624 10/05/96 63.9 9.450 406.07
ML671 10266128658 11/01/96 63.3 10.990 361.60
ML671 10266128689 10/09/96 90.0 12.900 369.75
ML671 10266128728 09/28/96 88.0 11.750 213.14
ML671 10266128758 10/27/96 74.9 9.500 859.43
ML671 10266128773 10/01/96 65.1 10.740 408.17
ML671 10266128781 10/01/96 84.7 11.700 165.33
ML671 10266128889 10/04/96 85.0 12.750 258.51
ML671 10266128891 10/01/96 80.0 15.090 1,007.14
ML671 10266128918 10/01/96 49.2 10.000 308.81
ML671 10266128968 10/05/96 90.0 11.740 879.30
ML671 10266128971 09/28/96 84.9 9.700 276.76
ML671 10266129004 10/13/96 33.6 13.850 350.24
ML671 10266129005 10/04/96 81.3 12.750 872.83
ML671 10266129044 10/03/96 66.6 12.990 1,264.58
ML671 10266129079 10/01/96 89.8 11.740 296.75
ML671 10266129103 09/23/96 90.0 11.500 431.13
ML671 10266129106 09/26/96 90.0 11.750 159.86
ML671 10266129130 10/03/96 78.6 14.000 287.52
ML671 10266129185 10/03/96 90.0 11.250 1,048.96
ML671 10266129188 10/03/96 74.5 14.250 651.74
ML671 10266129202 10/01/96 70.0 9.900 402.53
ML671 10266129214 10/04/96 83.8 11.500 278.03
ML671 10266129306 10/03/96 89.3 10.990 440.87
ML671 10266129328 10/03/96 88.4 10.500 274.42
ML671 10266129397 09/16/96 79.6 15.750 195.93
ML671 10266129517 10/16/96 89.9 12.900 336.29
ML671 10266129628 09/28/96 85.6 11.750 521.02
ML671 10266129632 09/28/96 90.0 11.500 595.78
ML671 10266129920 09/21/96 77.4 15.590 255.60
ML671 10266129923 10/21/96 89.8 12.900 177.13
ML671 10266129932 09/28/96 77.5 14.500 245.79
ML671 10266130448 10/03/96 65.0 10.950 752.20
ML671 10266130451 10/04/96 88.6 10.900 1,112.94
------------------ ----------------------------------------------
175 76.9 11.769 110,054.19
</TABLE>
<PAGE>
Alliance Funding Company Page 4 9/27/96
A division of Superior Bank FSB
Sale Schedule
1996-3 Class 1 - 1st Subsequent Transfer of
Fixed Rate Mortgages - Settlement 9/27/96
<TABLE>
<CAPTION>
Zip
Sale ID Account Name Address City State Code
- ------------------------------------------------------------------------------------------------------------------------------------
<C> <C> <S> <C> <C> <C> <C>
ML672 10266114443 THIPHANH BONNIE 200 WEST RUSCOMB STREET PHILADELPHIA PA 19120
ML672 10266117063 MACHADO REBECCA 1443 LELAND AVENUE BRONX NY 10460
ML672 10266119449 NGUYEN JEFFERSON 958 COMMACK ROAD BRENTWOOD NY 11717
ML672 10266119983 CLAWSON GAVIN 1165 EAST CASTLECREEK CIRCLE SALT LAKE CITY UT 84117
ML672 10266120246 PETERSEN HOWARD B 4933 SOUTH JEREMIAH CIRCLE SALT LAKE CITY UT 84118
ML672 10266120353 GURLEY DAVID A 360 PINEWOOD DRIVE VALPARAISO IN 46383
ML672 10266120554 PIETZ JAMES J 1104 SOUTH 400 EAST SALT LAKE CITY UT 84111
ML672 10266122254 BROWN GENERAL L 14111 HOUSTON WHITTIER DETROIT MI 48205
ML672 10266122644 GOKOOL SURINDRA 18259 N 7TH DRIVE PHOENIX AZ 85023
ML672 10266122749 GOLDSTEIN NATHAN 42 RAMPASTURE ROAD HAMPTON BAYS NY 11946
ML672 10266123236 BUONADONNA ANTHONY 2449 SOUTH PERCY STREET PHILADELPHIA PA 19147
ML672 10266123495 SMITH RICK S 3944 COBBLE CREEK COURT LAS VEGAS NV 89108
ML672 10266123638 RAMAWAD BENNIE 139-25 88TH ROAD BRIARWOOD NY 11435
ML672 10266124141 CORNIER LUIS E JR 35 PENNINSULA COURT BEAR DE 19701
ML672 10266124155 DEYARMIN KENNETH E 432 PUZZLETOWN ROAD DUNCANSVILLE PA 16635
ML672 10266124431 BELL JOHN HENRY 531 53RD AVENUE BELLWOOD IL 60104
ML672 10266124704 BREWER SAMUEL H 630 E MARKET STREET MARIETTA PA 17547
ML672 10266124743 CZARNIK WILLIAM C 5078 ASBURY AVENUE TINTON FALLS NJ 07753
ML672 10266124777 MCADOW RALPH 5616 CR 17 SOUTH SEBRING FL 33870
ML672 10266124787 SCHMIDT EDWARD C 9534 SOUTH SHAFER DRIVE TEMPE AZ 85284
ML672 10266125129 OTTLEY SCOTT R 745 FRANKLIN STREET WESTBURY NY 11590
ML672 10266125152 PIZZICHILI DANIEL J JR 118 MICHAEL LANE BEAR DE 19701
ML672 10266125626 SNARR KENT DEE 1789 NORTH HEATHERIDGE DRIVE OREM UT 84057
ML672 10266125729 VANGELOVSKI STOJAN 842 CHERRY STREET WINNETKA IL 60091
ML672 10266125731 DIXON WILLIAM E 43 NORTH LATROBE CHICAGO IL 60644
ML672 10266126015 WEBSTER GRANT J 2700 WEST WEBSTER LANE HEBER CITY UT 84032
ML672 10266126177 VILLARDE JUAN G 1713 TROLLMAN AVENUE SAN MATEO CA 94401
ML672 10266126188 PATERSON THOMAS A 30406 S GRAYS HILL ROAD COLTON OR 97017
ML672 10266126298 MADSEN MARILYN K 931 EAST 800 NORTH OREM UT 84057
ML672 10266126304 BARZELATTO ANTHONY 65 DAY AVENUE TENAFLY NJ 07670
ML672 10266126371 MALM KENNETH A SR 13 HOLLOW DRIVE NEW CITY NY 10956
ML672 10266126404 KHANDOUR SAFA 7559 RUTHERFORD DETROIT MI 48228
ML672 10266126678 MARTIN JOHN R 9431 SOUTH TROY EVERGREEN PARK IL 60805
ML672 10266126681 SHIREMAN THERESA 1509 GROVE DRIVE ROUND LAKE BEACH IL 60073
ML672 10266126725 PERSING GEORGE F 2415 FORSTER STREET HARRISBURG PA 17103
ML672 10266126793 LEONARD RUBY M 4679 BELL ROAD POWHATAN VA 23139
ML672 10266126867 TAYLOR LINDA MARIE 15357 YORICK AVENUE CLEVELAND OH 44110
ML672 10266126873 BRENDEL SCOTT J 1465 JEFFERSON ROAD HOFFMAN ESTATES IL 60195
ML672 10266126994 KELLY LOUIS 535 MORRIS AVE. BELLWOOD IL 60104
ML672 10266127082 WILEY SCOTT LEROY 2948 SOUTH 4700 WEST WEST VALLEY CITY UT 84120
ML672 10266127133 FOSMIRE MARIA J 731 JANET AVE LANCASTER PA 17601
ML672 10266127150 BABCOCK MICHAEL 12 HARROW LANE LEVITTOWN NY 11756
ML672 10266127287 DUNHAM RODNEY S 251 SW RIVER DRIVE DALLAS OR 97338
ML672 10266127370 MADDOX VALERIE ANN 6658 WEST KINGS ESTATE DRIVE WEST VALLEY CITY UT 84120
ML672 10266127412 KIM KYONG 1433 SOUTH EVANSTON STREET AURORA CO 80012
ML672 10266127417 SANTIAGO HILLARY M HARRIS 85 CENTRAL PARK ROAD PLAINVIEW NY 11803
ML672 10266127475 MUSGROW ANDRE 3558 WEST 3965 SOUTH SALT LAKE CITY UT 84119
ML672 10266127514 CHRISTMAN RONALD H 270 CARR AVENUE KEANSBURG NJ 07734
ML672 10266127520 YOUNG M RODNEY 320 RUDY DAM ROAD LITITZ PA 17543
ML672 10266127645 SLOVER ARTHUR 22 HARVARD STREET RED BANK NJ 07701
ML672 10266127686 WELSCH CURTIS R 816 NORTH 250 WEST AMERICAN FORK UT 84003
ML672 10266127876 PHAN KENNY 5847 GUIDE MERIDIAN ROAD BELLINGHAM WA 98226
ML672 10266127930 BRADSHAW JASON H 4176 SOUTH BROOKFIELD WAY WEST VALLEY CITY UT 84120
ML672 10266128034 GRISWOLD SHARON D 1655 COUNTRYWOOD STREET TARPON SPRINGS FL 34689
ML672 10266128054 WILKINS JESSIE L 2239 BROCKWAY RD. UNIVERSITY HEIGHTS OH 44118
ML672 10266128187 BARNES GERALD A 11826 ADAMS STREET THORNTON CO 80233
ML672 10266128205 POTKINS JEFFREY R 4371 WEST 5780 SOUTH SALT LAKE CITY UT 84118
ML672 10266128209 FRENCH LINDA L 1820 30TH STREET ROAD GREELEY CO 80631
ML672 10266128233 GRAZIANO LAWRENCE 4341 SOUTH WASHTENAW CHICAGO IL 60632
ML672 10266128269 MAHAN ROBERT C JR 8 TALMADGE STREET DERBY CT 06418
ML672 10266128318 SHEDEED PATRICIA ANN 4605 SOUTH MOBILE WAY AURORA CO 80015
ML672 10266128400 MARTIN JAMES M 326 COATES STREET BRIDGEPORT PA 19405
<CAPTION>
Principal Cut-off Date First
Balance at Principal Payment Maturity Rem
Sale ID Account Origination Balance Date Date Term
- -----------------------------------------------------------------------------------------------------------------------------
<C> <C> <C> <C> <C> <C> <C>
ML672 10266114443 25,000.00 24,897.02 07/14/96 06/14/11 176.55
ML672 10266117063 191,000.00 191,000.00 07/24/96 06/24/26 356.88
ML672 10266119449 100,300.00 100,300.00 09/16/96 08/16/26 358.62
ML672 10266119983 43,200.00 43,200.00 09/20/96 08/20/11 178.75
ML672 10266120246 93,600.00 93,600.00 10/03/96 09/03/11 179.21
ML672 10266120353 18,400.00 18,292.91 07/10/96 06/10/11 176.42
ML672 10266120554 32,750.00 32,750.00 09/21/96 08/21/11 178.78
ML672 10266122254 14,000.00 13,956.35 09/28/96 08/28/11 179.01
ML672 10266122644 12,000.00 12,000.00 10/01/96 09/01/11 179.15
ML672 10266122749 265,000.00 265,000.00 08/16/96 07/16/11 177.60
ML672 10266123236 20,665.00 20,605.87 10/01/96 09/01/11 179.15
ML672 10266123495 21,500.00 21,500.00 09/14/96 08/14/11 178.55
ML672 10266123638 107,200.00 107,200.00 09/26/96 08/26/26 358.95
ML672 10266124141 45,220.00 45,160.90 09/01/96 08/01/11 178.13
ML672 10266124155 64,800.00 64,800.00 09/13/96 08/13/26 358.52
ML672 10266124431 106,200.00 106,200.00 09/21/96 08/21/11 178.78
ML672 10266124704 15,000.00 15,000.00 09/28/96 08/28/11 179.01
ML672 10266124743 52,300.00 52,300.00 09/01/96 08/01/16 238.13
ML672 10266124777 55,250.00 55,112.11 09/15/96 08/15/16 238.59
ML672 10266124787 31,650.00 31,650.00 09/06/96 08/06/11 178.29
ML672 10266125129 139,500.00 139,500.00 09/16/96 08/16/26 358.62
ML672 10266125152 32,500.00 32,470.93 09/01/96 08/01/16 238.13
ML672 10266125626 28,000.00 28,000.00 09/06/96 08/06/11 178.29
ML672 10266125729 195,000.00 194,960.04 09/05/96 08/05/11 178.26
ML672 10266125731 52,700.00 52,700.00 10/01/96 09/01/11 179.15
ML672 10266126015 15,000.00 14,973.40 09/27/96 08/27/11 178.98
ML672 10266126177 74,500.00 74,500.00 09/23/96 08/23/11 178.85
ML672 10266126188 31,000.00 31,000.00 09/20/96 08/20/11 178.75
ML672 10266126298 26,591.00 26,523.65 09/07/96 08/07/11 178.32
ML672 10266126304 54,700.00 54,700.00 09/20/96 08/20/11 178.75
ML672 10266126371 32,200.00 32,119.06 09/01/96 08/01/16 238.13
ML672 10266126404 24,500.00 24,500.00 09/02/96 08/02/11 178.16
ML672 10266126678 25,500.00 25,500.00 09/14/96 08/14/16 238.55
ML672 10266126681 56,000.00 55,928.61 09/23/96 08/23/16 238.85
ML672 10266126725 55,000.00 55,000.00 09/26/96 08/26/11 178.95
ML672 10266126793 50,000.00 49,680.07 09/19/96 08/19/11 178.72
ML672 10266126867 54,000.00 53,911.39 09/21/96 08/21/11 178.78
ML672 10266126873 37,100.00 37,100.00 10/03/96 09/03/11 179.21
ML672 10266126994 15,000.00 15,000.00 09/21/96 08/21/16 238.78
ML672 10266127082 32,400.00 32,364.87 09/12/96 08/12/11 178.49
ML672 10266127133 24,900.00 24,900.00 10/05/96 09/05/11 179.28
ML672 10266127150 25,000.00 25,000.00 10/09/96 09/09/11 179.41
ML672 10266127287 27,000.00 27,000.00 10/09/96 09/09/11 179.41
ML672 10266127370 71,250.00 71,250.00 10/05/96 09/05/11 179.28
ML672 10266127412 25,500.00 25,500.00 10/01/96 09/01/11 179.15
ML672 10266127417 10,000.00 10,000.00 10/06/96 09/06/11 179.31
ML672 10266127475 16,411.00 16,411.00 10/09/96 09/09/11 179.41
ML672 10266127514 48,000.00 48,000.00 10/04/96 09/04/26 359.24
ML672 10266127520 245,000.00 245,000.00 09/23/96 08/23/11 178.85
ML672 10266127645 20,000.00 20,000.00 10/06/96 09/06/11 179.31
ML672 10266127686 19,100.00 19,061.68 09/28/96 08/28/11 179.01
ML672 10266127876 65,229.00 65,229.00 09/12/96 08/12/11 178.49
ML672 10266127930 68,240.00 68,240.00 10/03/96 09/03/26 359.21
ML672 10266128034 96,000.00 96,000.00 10/01/96 09/01/11 179.15
ML672 10266128054 23,000.00 22,934.85 09/26/96 08/26/16 238.95
ML672 10266128187 14,000.00 14,000.00 10/09/96 09/09/11 179.41
ML672 10266128205 65,450.00 65,450.00 09/14/96 08/14/11 178.55
ML672 10266128209 18,208.00 18,208.00 09/23/96 08/23/11 178.85
ML672 10266128233 35,000.00 35,000.00 09/27/96 08/27/16 238.98
ML672 10266128269 21,400.00 21,400.00 10/05/96 09/05/11 179.28
ML672 10266128318 20,000.00 20,000.00 10/05/96 09/05/16 239.28
ML672 10266128400 27,975.00 27,975.00 10/10/96 09/10/11 179.44
<CAPTION>
Original Current Scheduled
Date LTV Mortgage Payment
Sale ID Account Due Ratio Rate Int & Prin
- --------------------------------------------------------------------------------------------------
ML672 10266114443 09/14/96 58.1 11.750 296.03
ML672 10266117063 09/24/96 88.8 11.800 1,935.30
ML672 10266119449 10/16/96 85.0 12.200 1,047.17
ML672 10266119983 10/20/96 69.8 14.550 530.73
ML672 10266120246 10/03/96 90.0 11.550 930.49
ML672 10266120353 10/10/96 25.2 12.000 220.83
ML672 10266120554 10/21/96 77.1 14.500 401.04
ML672 10266122254 10/28/96 56.0 12.250 170.28
ML672 10266122644 10/01/96 81.2 11.000 136.39
ML672 10266122749 09/16/96 74.6 9.950 2,315.78
ML672 10266123236 11/01/96 85.0 11.500 241.41
ML672 10266123495 10/14/96 83.9 12.990 271.89
ML672 10266123638 09/26/96 76.5 11.800 1,086.20
ML672 10266124141 10/01/96 89.8 11.700 454.72
ML672 10266124155 10/13/96 90.0 11.500 641.71
ML672 10266124431 10/21/96 90.0 11.750 1,071.99
ML672 10266124704 09/28/96 73.9 13.690 174.06
ML672 10266124743 10/01/96 79.8 13.990 649.98
ML672 10266124777 10/15/96 83.7 10.750 560.91
ML672 10266124787 10/06/96 84.9 13.550 363.77
ML672 10266125129 10/16/96 85.5 10.750 1,302.21
ML672 10266125152 10/01/96 89.0 12.900 378.45
ML672 10266125626 10/06/96 85.0 13.700 325.13
ML672 10266125729 10/05/96 47.5 10.750 1,820.29
ML672 10266125731 10/01/96 85.0 9.990 565.99
ML672 10266126015 10/27/96 40.3 14.350 203.30
ML672 10266126177 09/23/96 84.8 12.700 806.69
ML672 10266126188 09/20/96 68.8 13.000 392.23
ML672 10266126298 10/07/96 90.0 13.150 297.27
ML672 10266126304 09/20/96 89.9 13.000 605.09
ML672 10266126371 10/01/96 83.9 10.450 320.40
ML672 10266126404 10/02/96 70.0 10.500 224.11
ML672 10266126678 10/14/96 84.8 12.250 285.23
ML672 10266126681 10/23/96 46.6 10.250 549.72
ML672 10266126725 09/26/96 63.9 11.000 523.78
ML672 10266126793 10/19/96 41.3 10.990 475.78
ML672 10266126867 10/21/96 84.3 10.250 483.89
ML672 10266126873 10/03/96 79.9 14.250 500.32
ML672 10266126994 10/21/96 77.5 10.750 152.28
ML672 10266127082 10/12/96 76.8 12.450 344.53
ML672 10266127133 10/05/96 84.4 12.900 313.41
ML672 10266127150 10/09/96 61.3 12.990 316.15
ML672 10266127287 10/09/96 89.9 11.400 313.70
ML672 10266127370 10/05/96 75.0 10.500 651.75
ML672 10266127412 10/01/96 89.7 12.250 310.16
ML672 10266127417 10/06/96 82.5 11.740 118.35
ML672 10266127475 10/09/96 80.0 14.500 224.09
ML672 10266127514 10/04/96 41.3 11.750 484.52
ML672 10266127520 09/23/96 70.0 11.990 2,518.22
ML672 10266127645 10/06/96 12.1 12.000 240.03
ML672 10266127686 10/28/96 79.3 15.450 248.40
ML672 10266127876 10/12/96 84.9 13.250 734.33
ML672 10266127930 10/03/96 68.9 10.250 611.50
ML672 10266128034 10/01/96 80.0 10.700 892.54
ML672 10266128054 10/26/96 28.0 9.250 210.65
ML672 10266128187 10/09/96 77.9 11.000 159.12
ML672 10266128205 10/14/96 85.0 12.750 711.24
ML672 10266128209 09/23/96 84.8 13.250 233.38
ML672 10266128233 09/27/96 62.1 9.750 331.98
ML672 10266128269 10/05/96 79.9 12.450 263.06
ML672 10266128318 10/05/96 83.8 12.250 223.71
ML672 10266128400 10/10/96 90.0 11.650 329.47
</TABLE>
<PAGE>
Alliance Funding Company Page 5 9/27/96
A division of Superior Bank FSB
Sale Schedule
1996-3 Class 1 - 1st Subsequent Transfer of
Fixed Rate Mortgages - Settlement 9/27/96
<TABLE>
<CAPTION>
Zip
Sale ID Account Name Address City State Code
- ------------------------------------------------------------------------------------------------------------------------------------
<C> <C> <S> <C> <C> <C> <C>
ML672 10266128401 GREEN ODIS E 8666 PIERSON DETROIT MI 48228
ML672 10266128415 ROLLE WILLIAM H 26 E. 101ST STREET CHICAGO IL 60628
ML672 10266128435 LAVALLEE PAUL A 253 TRIANGLE BOULEVARD MIDDLEBURY CT 06762
ML672 10266128458 MORITZ STEPHEN E 108 FAIRVIEW DRIVE HARRISBURG PA 17112
ML672 10266128529 MONACO THOMAS F 13 CLARK ROAD NEW FAIRFIELD CT 06812
ML672 10266128566 BERGESON GAREY G 16416 NE 28TH AVENUE RIDGEFIELD WA 98642
ML672 10266128573 HICKEY RONALD J 7038 SOUTH HARPER AVE CHICAGO IL 60637
ML672 10266128618 ROGERS CARL JR 1226 SOUTH 72ND STREET TACOMA WA 98408
ML672 10266128655 PETERSEN MICHAEL J 3538 WEST 7980 SOUTH WEST JORDAN UT 84088
ML672 10266128656 MCLAUGHLIN CHRISTINE M 2851 CINNAMON BLVD PALM HARBOR FL 34684
ML672 10266128712 HANSEN THOMAS G 13410 EASTONVILLE ROAD ELBERT CO 80106
ML672 10266128725 STOCKFISH STEVE M 7252 SOUTH INVERNESS CIRCLE WEST JORDAN UT 84084
ML672 10266128751 BRYAN HARRY T 817 HILLSIDE GLEN ELLYN IL 60137
ML672 10266128851 DELGADO EVANGELINA 14474 SW 299TH TERRACE MIAMI FL 33033
ML672 10266128852 MORRISSEY RICHARD J JR RT 3 BOX 1358 CALLAHAN FL 32011
ML672 10266128905 SMITH JULIE L 21 BARCLAY DRIVE PUEBLO CO 81005
ML672 10266128912 HEAD TERRY E 1179 CAROLINE COURT LIVERMORE CA 94550
ML672 10266128952 BEACH WILLIAM J 6 DURHAM COURT EATONS NECK NY 11768
ML672 10266129140 BROWN ANDREA 416 NORTH HERMITAGE AVENUE TRENTON NJ 08610
ML672 10266129184 CUEVAS FIFINE 2115 DONIPHAN DRIVE COLORADO SPRINGS CO 80910
ML672 10266129222 ELLSWORTH RANDY J 856 EAST 280 SOUTH PAYSON UT 84651
ML672 10266129321 HICKMAN STEVE W 1293 NORTH 200 WEST OREM UT 84057
ML672 10266129359 WEIGEN JON A 2722 WEST MICHIGAN AVENUE PHOENIX AZ 85023
ML672 10266129410 GORDON CARMEN 7785 VALLEJO STREET DENVER CO 80221
ML672 10266129622 DECRUZ CATALINA CEBALLOS 2925 W BEACH STREET TAMPA FL 33607
ML672 10266129756 EVANS DOUGLAS W 5062 WEST MUIRKIRK CIRCLE WEST JORDAN UT 84088
ML672 10266129773 ONOFRIETTO VICTOR G 6306 SNELL AVENUE SAN JOSE CA 95123
ML672 10266129922 MCAFFEE EDWARD B 6303 SOUTH LORREEN DRIVE SALT LAKE CITY UT 84121
ML672 10266129929 HODGES DONALD L 638 NORTH SIR MICHAEL DRIVE SALT LAKE CITY UT 84116
ML672 10266130168 ALLEN ROBERT M 10124 EAST JEWELL AVENUE #12 DENVER CO 80231
ML672 10266130182 MESEC RICHARD R 2227 MAPLETON AVENUE BOULDER CO 80304
ML672 10266130372 ACKERMAN JOHN C 164 FOXSHIRE DR LANCASTER PA 17601
ML672 10266130450 LYNCH WAYNE P 651 WEST 550 NORTH CLEARFIELD UT 84015
ML672 10266130456 BAIRD SUSAN S 2627 EAST 3020 SOUTH SALT LAKE CITY UT 84109
ML672 10266130573 STRONG LARRY H 1101 NORTH 2825 WEST LAYTON UT 84041
ML672 10266130585 BARTON DAVID H 380 WEST CREEKSIDE WAY KAYSVILLE UT 84037
ML672 10266130586 CANNON CLIFFORD M 2738 FOWLER AVENUE OGDEN UT 84403
ML672 10266130916 HARPER MICHAEL C 5380 WEST 5150 SOUTH SALT LAKE CITY UT 84118
---------------------------------------------
100 Sale Total
275 Total with Merrill Lynch
<CAPTION>
Principal Cut-off Date First
Balance at Principal Payment Maturity Rem
Sale ID Account Origination Balance Date Date Term
- -----------------------------------------------------------------------------------------------------------------------------
<C> <C> <C> <C> <C> <C> <C>
ML672 10266128401 15,000.00 15,000.00 10/01/96 09/01/11 179.15
ML672 10266128415 45,000.00 45,000.00 09/28/96 08/28/16 239.01
ML672 10266128435 30,900.00 30,900.00 10/06/96 09/06/11 179.31
ML672 10266128458 41,900.00 41,900.00 10/04/96 09/04/11 179.24
ML672 10266128529 27,400.00 27,400.00 10/06/96 09/06/11 179.31
ML672 10266128566 30,000.00 30,000.00 09/26/96 08/26/16 238.95
ML672 10266128573 44,000.00 44,000.00 10/01/96 09/01/11 179.15
ML672 10266128618 15,700.00 15,700.00 10/11/96 09/11/11 179.47
ML672 10266128655 15,000.00 15,000.00 10/10/96 09/10/11 179.44
ML672 10266128656 40,000.00 40,000.00 10/01/96 09/01/11 179.15
ML672 10266128712 37,000.00 37,000.00 10/09/96 09/09/16 239.41
ML672 10266128725 22,397.00 22,397.00 10/11/96 09/11/11 179.47
ML672 10266128751 45,600.00 45,600.00 10/03/96 09/03/16 239.21
ML672 10266128851 36,500.00 36,470.03 09/14/96 08/14/11 178.55
ML672 10266128852 16,100.00 16,100.00 10/05/96 09/05/11 179.28
ML672 10266128905 17,900.00 17,900.00 10/05/96 09/05/11 179.28
ML672 10266128912 38,000.00 38,000.00 10/01/96 09/01/11 179.15
ML672 10266128952 57,700.00 57,700.00 10/05/96 09/05/11 179.28
ML672 10266129140 67,500.00 67,500.00 09/27/96 09/27/11 178.98
ML672 10266129184 17,000.00 16,901.99 10/05/96 09/05/11 179.28
ML672 10266129222 73,700.00 73,700.00 10/09/96 09/09/11 179.41
ML672 10266129321 35,000.00 35,000.00 10/09/96 09/09/11 179.41
ML672 10266129359 19,500.00 19,500.00 09/26/96 08/26/11 178.95
ML672 10266129410 22,880.00 22,880.00 10/10/96 09/10/11 179.44
ML672 10266129622 25,000.00 25,000.00 10/05/96 09/05/06 119.28
ML672 10266129756 59,139.00 59,105.24 09/20/96 08/20/11 178.75
ML672 10266129773 272,000.00 272,000.00 09/23/96 08/23/11 178.85
ML672 10266129922 54,700.00 54,700.00 09/21/96 08/21/11 178.78
ML672 10266129929 40,000.00 40,000.00 09/21/96 08/21/11 178.78
ML672 10266130168 81,000.00 81,000.00 10/04/96 09/04/11 179.24
ML672 10266130182 99,750.00 99,750.00 10/09/96 09/09/11 179.41
ML672 10266130372 67,500.00 67,500.00 10/05/96 09/05/16 239.28
ML672 10266130450 21,400.00 21,400.00 09/27/96 08/27/11 178.98
ML672 10266130456 19,000.00 19,000.00 09/13/96 08/13/11 178.52
ML672 10266130573 19,100.00 19,100.00 10/01/96 09/01/11 179.15
ML672 10266130585 21,639.00 21,639.00 09/28/96 08/28/11 179.01
ML672 10266130586 18,500.00 18,500.00 09/28/96 08/28/11 179.01
ML672 10266130916 29,725.00 29,725.00 10/03/96 09/03/11 179.21
------------------------------------------------------------ -------------
100 4,973,019.00 4,971,484.97 211.37
275 15,201,609.00 15,194,481.99 211.41
<CAPTION>
Original Current Scheduled
Date LTV Mortgage Payment
Sale ID Account Due Ratio Rate Int & Prin
- --------------------------------------------------------------------------------------------------
ML672 10266128401 10/01/96 45.4 14.250 202.29
ML672 10266128415 09/28/96 90.0 10.750 456.85
ML672 10266128435 10/06/96 84.9 12.990 341.57
ML672 10266128458 10/04/96 89.9 11.950 501.52
ML672 10266128529 10/06/96 89.9 12.990 346.50
ML672 10266128566 09/26/96 72.9 11.500 319.93
ML672 10266128573 10/01/96 80.0 10.750 410.73
ML672 10266128618 10/11/96 68.0 12.750 196.07
ML672 10266128655 10/10/96 87.9 11.750 151.41
ML672 10266128656 10/01/96 46.2 10.950 453.38
ML672 10266128712 10/09/96 76.1 10.500 369.40
ML672 10266128725 10/11/96 89.7 12.250 234.70
ML672 10266128751 10/03/96 89.9 11.250 478.46
ML672 10266128851 10/14/96 84.8 13.750 479.97
ML672 10266128852 10/05/96 79.9 13.450 208.49
ML672 10266128905 10/05/96 68.7 12.750 194.52
ML672 10266128912 10/01/96 85.7 12.400 465.89
ML672 10266128952 10/05/96 89.7 13.500 749.13
ML672 10266129140 09/27/96 90.0 11.750 681.35
ML672 10266129184 11/05/96 76.0 12.000 204.03
ML672 10266129222 10/09/96 89.9 11.500 860.96
ML672 10266129321 10/09/96 81.3 12.500 373.54
ML672 10266129359 09/26/96 90.0 12.250 237.18
ML672 10266129410 10/10/96 79.9 11.750 270.93
ML672 10266129622 10/05/96 34.2 10.990 344.23
ML672 10266129756 10/20/96 89.6 12.900 744.36
ML672 10266129773 09/23/96 85.0 12.750 2,955.81
ML672 10266129922 09/21/96 84.6 13.950 726.63
ML672 10266129929 09/21/96 71.8 12.600 495.61
ML672 10266130168 10/04/96 68.6 9.850 701.87
ML672 10266130182 10/09/96 85.0 12.700 1,080.09
ML672 10266130372 10/05/96 89.9 11.400 715.19
ML672 10266130450 09/27/96 84.8 12.900 269.36
ML672 10266130456 10/13/96 17.7 13.850 251.12
ML672 10266130573 10/01/96 79.2 13.450 247.34
ML672 10266130585 09/28/96 86.6 12.600 268.12
ML672 10266130586 09/28/96 73.7 13.450 239.57
ML672 10266130916 10/03/96 54.3 14.090 354.32
------------------ ----------------------------------------------
100 77.2 11.849 53,079.55
275 77.0 11.795 163,133.74
</TABLE>
<PAGE>
Alliance Funding Company Page 6 9/27/96
A division of Superior Bank FSB
Sale Schedule
1996-3 Class 1 - 1st Subsequent Transfer of
Fixed Rate Mortgages - Settlement 9/27/96
<TABLE>
<CAPTION>
Zip
Sale ID Account Name Address City State Code
- ------------------------------------------------------------------------------------------------------------------------------------
<C> <C> <S> <C> <C> <C> <C>
SB40 10266117787 SCOTT RICK D 138 HILL STREET MOUNT PROSPECT IL 60056
SB40 10266118081 ROTH JACOB T 2078 SE OAK CREST DRIVE HILLSBORO OR 97123
SB40 10266119182 KOHLER GARY M 1479 CRESTHILL AVENUE NW SALEM OR 97304
SB40 10266119559 RUIZ CARLOS T 2124 A BOGART AVENUE BRONX NY 10462
SB40 10266119890 LOPEZ SERGIO 666 PINECREST DR UNIT 10-303 PROSPECT HEIGHTS IL 60070
SB40 10266119905 HEJNY JOHN G 24901 WEST ROBIN LANE NAPERVILLE IL 60564
SB40 10266120285 MAIORANO RALPH E 16101 S. DEBRA DRIVE OAK FOREST IL 60452
SB40 10266120338 OGUNBOWALE TOSIN 226 VANDERBILT AVENUE STATEN ISLAND NY 10304
SB40 10266120697 ESPOSITO BEVERLY A 5971 OAKVILLE RD. MAYFIELD HTS., OH 44124
SB40 10266120711 ARELLANO AURELIO 4013 E KELLAR STREET LAKE VILLAGE IN 46349
SB40 10266121258 BANKS EUTHA 7408 S KENWOOD AVE CHICAGO IL 60619
SB40 10266121274 PODEIN BONTIA 1104 36TH ST. SW WYOMING MI 49509
SB40 10266121281 MOON BETTIE J 870 GLADSTONE DETROIT MI 48202
SB40 10266121284 WOODS MARY 224 WORCHESTER DETROIT MI 48203
SB40 10266122118 RADOWITCH EDGAR F 802 S MINK ROAD DANIELSVILLE PA 18038
SB40 10266122276 RICHBURG YVETTE 415 CLOCKS BOULEVARD MASSAPEQUA NY 11758
SB40 10266122446 HILLAIRE GAYMAN 259 EAST 52ND STREET BROOKLYN NY 11203
SB40 10266122826 LEE LARRY 624 SOUTH 18TH AVENUE MAYWOOD IL 60153
SB40 10266122984 REYNOLDS STEVE 16563 WEST ARBOR TERRACE LOCKPORT IL 60441
SB40 10266123497 ROTHENBILLER JOHN E 604 WOODBINE ROAD BELLEPLAIN NJ 08270
SB40 10266123553 CHARBENEAU SUSAN J 17083 VERONICA EASTPOINTE MI 48021
SB40 10266123739 LEE BILLY M 6224 HICKORYWOOD DRIVE SPEEDWAY IN 46224
SB40 10266123826 HILLEGASS CHARLES G 681 HEARTHSTONE TRAIL CANTON GA 30114
SB40 10266123834 WINGER LARRY D 1825 NORTH MAIN MAPLETON UT 84664
SB40 10266123898 LLOYD THOMAS 1850 AVONLES AVE CINCINNATI OH 45237
SB40 10266123957 MATTHEWS DWON 3632 EAST MAIN STREET COLLEGE PARK GA 30337
SB40 10266124264 PETTIT CAROLE 2521 E. 95TH PLACE CHICAGO IL 60617
SB40 10266124273 KARAKY ZEINA 5901 APPOLINE DEARBORN MI 48126
SB40 10266124446 SITAWI SHINDA 3202 HACKBERRY STREET CINCINNATI OH 45207
SB40 10266124463 MINGER RUSSELL F 2100 LYNPARK AVE. DAYTON OH 45439
SB40 10266124578 KIEFER LAWRENCE L 2815 LOS ARBOLES COURT NE ALBUQUERQUE NM 87112
SB40 10266124671 CHEEKS WALTER EUGENE 13110 CHANDLER PARK DRIVE DETROIT MI 48213
SB40 10266124678 CASH ANGELA 3937 ERICKSON COURT INDIANAPOLIS IN 46236
SB40 10266124822 BEALE JANET 42 HALSTEAD STREET NEWARK NJ 07106
SB40 10266124882 WEE KIM LIANG 19230 NORTH 40TH STREET PHOENIX AZ 85024
SB40 10266124904 MONTGOMERY THOMAS G 3676 TYLER BERKLEY MI 48072
SB40 10266124926 FERRAO CYRIL 184 LEONIA AVENUE LEONIA NJ 07605
SB40 10266125004 PRATT GERALD L 15920 SOUTHEAST 184TH STREET RENTON WA 98058
SB40 10266125213 EINHAUS ALAN W 3118 BENNETT DRIVE BELLINGHAM WA 98225
SB40 10266125761 LIVINGSTON TERESA J 4624 SUSY LANE INDIANAPOLIS IN 46221
SB40 10266125844 HESTAND DENNIS ALLEN 4811 W COUNTY LINE GREENWOOD IN 46142
SB40 10266125928 PERRY DAVID E 147 CEDARLAND DRIVE THOMASVILLE NC 27360
SB40 10266125953 MILO MICHAEL J 68 SEAMANS ROAD JAMESPORT NY 11947
SB40 10266126042 GRINKO DONALD M 111 E OAK GLENN DRIVE BARTLETT IL 60103
SB40 10266126103 HENNESSEY GERALDINE 201 BROADWAY BRENTWOOD NY 11717
SB40 10266126185 FERREE JACQUELINE R 2614 N 32ND STREET BOISE ID 83703
SB40 10266126236 MOYER CYNTHIA 1144 BRIARWOOD DRIVE BROWNSBURG IN 46112
SB40 10266126310 PEDMO CARL J JR 205 LONG ROAD MOUNT WOLF PA 17347
SB40 10266126395 GOMILLA BERNICE 7317 S. DAMEN AVE. CHICAGO IL 60636
SB40 10266126534 FOROWYCZ ZENON 711 MORRIS HILLSIDE IL 60162
SB40 10266126677 DANIELS FRANK S 2065 EAST 171ST PLACE SOUTH HOLLAND IL 60473
SB40 10266126691 TURGEL LARISA 1600 W. GREENLEAF, #402 CHICAGO IL 60626
SB40 10266126792 RODRIQUEZ DANIEL R 4911 EAST HILLERY DRIVE SCOTTSDALE AZ 85254
SB40 10266126823 GIBSON CALVIN L 206 ELURIA STREET OREGON CITY OR 97045
SB40 10266126835 MASHECK WALTER L 51 CLINTON AVENUE NORWALK CT 06854
SB40 10266126840 PENNEBAKER WILLIAM R 31610 NORTHEAST 103RD STREET CARNATION WA 98014
SB40 10266126871 SALAHUDDIN BILAL 1312 WEST 98TH STREET CHICAGO IL 60643
SB40 10266127036 KING CHEW LINDA 5236 LINDEN HEIGHTS AVENUE BALTIMORE MD 21215
SB40 10266127174 HAYWOOD CHARLES E 18091 BLOOM DETROIT MI 48234
SB40 10266127277 WITTEMANN LINDA J 8236 N 16TH STREET PHOENIX AZ 85020
SB40 10266127580 LESHOURE LINDA 12237 S. CARPENTER CHICAGO IL 60643
SB40 10266127595 ZAJAC GREGORY 19400 PARKER ROAD MOKENA IL 60448
<CAPTION>
Principal Cut-off Date First
Balance at Principal Payment Maturity Rem
Sale ID Account Origination Balance Date Date Term
- -----------------------------------------------------------------------------------------------------------------------------
<C> <C> <C> <C> <C> <C> <C>
SB40 10266117787 30,600.00 30,600.00 09/14/96 08/14/16 238.55
SB40 10266118081 149,600.00 149,551.51 07/24/96 06/24/11 176.88
SB40 10266119182 115,200.00 115,200.00 09/28/96 08/28/11 179.01
SB40 10266119559 207,000.00 207,000.00 09/16/96 08/16/26 358.62
SB40 10266119890 42,700.00 42,700.00 09/01/96 08/01/11 178.13
SB40 10266119905 40,000.00 40,000.00 09/09/96 08/09/16 238.39
SB40 10266120285 143,000.00 142,844.20 09/01/96 08/01/11 178.13
SB40 10266120338 48,000.00 48,000.00 09/01/96 08/01/26 358.13
SB40 10266120697 96,000.00 96,000.00 08/15/96 07/15/26 357.57
SB40 10266120711 44,800.00 44,800.00 09/20/96 08/20/16 238.75
SB40 10266121258 65,000.00 64,978.06 09/20/96 08/20/11 178.75
SB40 10266121274 36,000.00 36,000.00 09/06/96 08/06/11 178.29
SB40 10266121281 17,600.00 17,526.26 08/24/96 07/24/11 177.86
SB40 10266121284 38,200.00 38,200.00 09/20/96 08/20/26 358.75
SB40 10266122118 101,000.00 101,000.00 08/22/96 07/22/11 177.80
SB40 10266122276 139,500.00 139,500.00 09/16/96 08/16/11 178.62
SB40 10266122446 126,000.00 126,000.00 09/28/96 08/28/11 179.01
SB40 10266122826 67,000.00 67,000.00 09/01/96 08/01/16 238.13
SB40 10266122984 62,600.00 62,521.72 09/14/96 08/14/16 238.55
SB40 10266123497 104,000.00 104,000.00 09/27/96 08/27/11 178.98
SB40 10266123553 71,000.00 70,880.89 09/05/96 08/05/11 178.26
SB40 10266123739 62,500.00 62,500.00 09/01/96 08/01/16 238.13
SB40 10266123826 57,800.00 57,653.92 08/24/96 07/24/11 177.86
SB40 10266123834 29,446.00 29,446.00 10/01/96 09/01/11 179.15
SB40 10266123898 64,800.00 64,608.29 08/17/96 07/17/11 177.63
SB40 10266123957 86,000.00 86,000.00 09/15/96 08/15/11 178.59
SB40 10266124264 19,300.00 19,300.00 10/01/96 11/01/11 181.15
SB40 10266124273 90,000.00 89,987.59 09/06/96 08/06/26 358.29
SB40 10266124446 50,100.00 50,100.00 09/06/96 08/06/16 238.29
SB40 10266124463 73,800.00 73,800.00 09/01/96 08/01/26 358.13
SB40 10266124578 84,000.00 83,984.67 09/16/96 08/16/11 178.62
SB40 10266124671 45,000.00 44,887.90 09/01/96 08/01/11 178.13
SB40 10266124678 54,400.00 54,400.00 09/01/96 08/01/26 358.13
SB40 10266124822 67,500.00 67,443.73 09/21/96 08/21/11 178.78
SB40 10266124882 21,387.00 21,387.00 09/09/96 08/09/11 178.39
SB40 10266124904 94,500.00 94,229.50 09/19/96 08/19/16 238.72
SB40 10266124926 200,000.00 199,782.24 09/09/96 08/09/11 178.39
SB40 10266125004 30,000.00 29,966.38 09/21/96 08/21/11 178.78
SB40 10266125213 27,645.00 27,584.14 09/26/96 08/26/11 178.95
SB40 10266125761 60,600.00 59,592.84 09/02/96 08/02/16 238.16
SB40 10266125844 88,000.00 87,904.48 09/19/96 08/19/26 358.72
SB40 10266125928 25,100.00 25,100.00 09/01/96 08/01/11 178.13
SB40 10266125953 60,000.00 59,582.76 09/05/96 08/05/11 178.26
SB40 10266126042 104,000.00 104,000.00 09/19/96 08/19/11 178.72
SB40 10266126103 50,000.00 50,000.00 09/14/96 08/14/11 178.55
SB40 10266126185 27,564.00 27,564.00 09/23/96 08/23/11 178.85
SB40 10266126236 103,500.00 103,500.00 09/01/96 08/01/11 178.13
SB40 10266126310 85,000.00 85,000.00 09/19/96 08/19/11 178.72
SB40 10266126395 55,000.00 54,872.79 09/01/96 08/01/11 178.13
SB40 10266126534 38,300.00 38,294.69 09/20/96 08/20/16 238.75
SB40 10266126677 175,900.00 175,900.00 10/01/96 09/01/11 179.15
SB40 10266126691 14,000.00 14,000.00 09/21/96 08/21/16 238.78
SB40 10266126792 127,500.00 127,500.00 10/01/96 09/01/26 359.15
SB40 10266126823 25,000.00 24,905.21 09/26/96 08/26/11 178.95
SB40 10266126835 22,850.00 22,850.00 09/22/96 08/22/11 178.82
SB40 10266126840 32,786.00 32,786.00 10/04/96 09/04/11 179.24
SB40 10266126871 65,100.00 64,966.40 09/12/96 08/12/26 358.49
SB40 10266127036 50,400.00 50,400.00 09/08/96 08/08/11 178.36
SB40 10266127174 18,400.00 18,379.66 09/16/96 08/16/26 358.62
SB40 10266127277 29,312.00 29,266.78 09/21/96 08/21/16 238.78
SB40 10266127580 42,400.00 42,400.00 09/26/96 08/26/26 358.95
SB40 10266127595 232,000.00 232,000.00 09/20/96 08/20/11 178.75
<CAPTION>
Original Current Scheduled
Date LTV Mortgage Payment
Sale ID Account Due Ratio Rate Int & Prin
- --------------------------------------------------------------------------------------------------
SB40 10266117787 10/14/96 79.9 13.500 369.46
SB40 10266118081 09/24/96 85.0 9.875 1,299.05
SB40 10266119182 09/28/96 80.0 10.250 1,032.31
SB40 10266119559 10/16/96 90.0 10.750 1,932.31
SB40 10266119890 10/01/96 74.9 9.250 351.28
SB40 10266119905 09/09/96 29.6 11.490 426.30
SB40 10266120285 10/01/96 89.9 10.750 1,334.88
SB40 10266120338 09/01/96 80.0 11.350 469.85
SB40 10266120697 10/15/96 80.0 10.000 842.47
SB40 10266120711 10/20/96 70.0 11.990 492.97
SB40 10266121258 10/20/96 74.7 11.250 631.32
SB40 10266121274 10/06/96 56.6 12.250 437.87
SB40 10266121281 10/24/96 80.0 10.750 197.29
SB40 10266121284 09/20/96 68.2 12.240 400.00
SB40 10266122118 09/22/96 79.8 11.850 1,027.25
SB40 10266122276 09/16/96 90.0 11.200 1,349.62
SB40 10266122446 09/28/96 70.0 10.990 1,198.98
SB40 10266122826 10/01/96 79.7 13.490 808.46
SB40 10266122984 10/14/96 89.9 10.990 645.72
SB40 10266123497 09/27/96 80.0 10.790 973.95
SB40 10266123553 10/05/96 78.8 10.750 662.77
SB40 10266123739 10/01/96 89.9 11.500 666.52
SB40 10266123826 09/24/96 69.9 11.500 572.39
SB40 10266123834 10/01/96 88.1 12.000 353.40
SB40 10266123898 10/17/96 90.0 11.500 756.99
SB40 10266123957 10/15/96 80.0 11.850 874.69
SB40 10266124264 10/01/96 64.7 11.990 230.60
SB40 10266124273 10/06/96 90.0 11.500 891.26
SB40 10266124446 10/06/96 84.9 10.500 500.19
SB40 10266124463 10/01/96 90.0 11.500 730.84
SB40 10266124578 10/16/96 70.0 10.990 799.32
SB40 10266124671 10/01/96 63.8 10.250 490.48
SB40 10266124678 09/01/96 80.0 13.250 612.42
SB40 10266124822 10/21/96 75.8 9.950 589.87
SB40 10266124882 09/09/96 85.0 13.150 272.71
SB40 10266124904 10/19/96 70.0 10.500 943.47
SB40 10266124926 10/09/96 74.0 10.750 1,866.96
SB40 10266125004 10/21/96 78.0 11.000 340.98
SB40 10266125213 10/26/96 84.5 13.990 367.97
SB40 10266125761 11/02/96 60.6 10.250 594.88
SB40 10266125844 10/19/96 80.0 11.240 854.04
SB40 10266125928 10/01/96 89.6 12.950 316.75
SB40 10266125953 10/05/96 33.3 11.250 582.76
SB40 10266126042 10/19/96 80.0 10.990 989.63
SB40 10266126103 10/14/96 70.7 12.990 632.29
SB40 10266126185 09/23/96 89.8 11.750 326.39
SB40 10266126236 10/01/96 90.0 10.750 966.15
SB40 10266126310 09/19/96 85.0 9.850 736.53
SB40 10266126395 10/01/96 73.3 10.500 607.97
SB40 10266126534 10/20/96 83.5 10.750 388.83
SB40 10266126677 10/01/96 84.9 10.000 1,890.23
SB40 10266126691 09/21/96 74.9 10.000 135.10
SB40 10266126792 10/01/96 75.0 14.250 1,535.98
SB40 10266126823 10/26/96 83.0 12.000 300.04
SB40 10266126835 09/22/96 89.9 12.950 251.87
SB40 10266126840 10/04/96 90.0 13.250 369.10
SB40 10266126871 10/12/96 76.5 9.750 559.31
SB40 10266127036 09/08/96 80.0 13.550 579.27
SB40 10266127174 10/16/96 80.0 13.750 214.38
SB40 10266127277 10/21/96 89.8 11.400 310.57
SB40 10266127580 09/26/96 80.0 10.750 395.80
SB40 10266127595 10/20/96 79.1 9.500 1,950.78
</TABLE>
<PAGE>
Alliance Funding Company Page 7 9/27/96
A division of Superior Bank FSB
Sale Schedule
1996-3 Class 1 - 1st Subsequent Transfer of
Fixed Rate Mortgages - Settlement 9/27/96
<TABLE>
<CAPTION>
Zip
Sale ID Account Name Address City State Code
- ------------------------------------------------------------------------------------------------------------------------------------
<C> <C> <S> <C> <C> <C> <C>
SB40 10266127617 MOEHL TIMOTHY 701 E. 104TH ST. CARMEL IN 46032
SB40 10266127629 WARD ROBIN S 3116 E. 13TH ST. COLUMBUS IN 47201
SB40 10266127715 SLOAT JOAN W 9313 EVERGREEN CANYON DRIVE LAS VEGAS NV 89134
SB40 10266127743 PORTER JIM JR 6728 SOUTH PRAIRIE CHICAGO IL 60637
SB40 10266127886 SUSTER DEWEY 15413 S. VINCENNES PHOENIX IL 60426
SB40 10266127996 WATSON CHARLES P 13860 RANCHO VERDE DRIVE RENO NV 89511
SB40 10266127999 DURAN ROBERT G 1751 W DEACON DRIVE TUCSON AZ 85746
SB40 10266128029 MENDIOLA PETER A 7262 E TAYLOR STREET PORT ORCHARD WA 98366
SB40 10266128051 BILES GWENDOLYN J 16824 PRINCETON DETROIT MI 48221
SB40 10266128181 SUSTER DEWEY 9413 SOUTH FOREST AVENUE CHICAGO IL 60619
SB40 10266128222 BRASTAD MICHAEL 601 SOUTH BROADWAY MCHENRY IL 60050
SB40 10266128273 PHILIPS KEVIN G 29 BRIDGE STREET NYACK NY 10960
SB40 10266128640 ROMANO TONY 3742 EAST NIGHT HAWK WAY PHOENIX AZ 85044
SB40 10266128721 FORT WILLIAM C 1000 CHAMA NE ALBUQUERQUE NM 87110
SB40 10266128879 SNEDECOR ROBERT W 40 EASTOVER ROAD SAYVILLE NY 11782
SB40 10266128882 MACCARONE LOUIS J 1 BOWDEN AVENUE GLEN HEAD NY 11545
SB40 10266128961 SMITH DANIEL 54 SWAN STREET STATEN ISLAND NY 10301
SB40 10266129110 SCHULTZ RONALD S 6611 E THUNDERBIRD ROAD SCOTTSDALE AZ 85254
SB40 10266129673 MAGUIRE KEVIN D 6517 48TH AVENUE NE SEATTLE WA 98115
SB40 10266129778 YORK JAMES L JR 4430 EL CAMPANA WAY LAS VEGAS NV 89121
SB40 10266129803 KOLP MARK 3756 WEST 86TH PLACE CHICAGO IL 60652
SB40 10266129871 MOLINA RENE A 721 WEST OKLAHOMA STREET TUCSON AZ 85714
SB40 10266129945 JACOBS LOUIS H JR 6454 S SWADLEY WAY LITTLETON CO 80127
SB40 10266130176 MELLENBRUCH CARRIE 3629 GEORGIA STREET NE ALBUQUERQUE NM 87110
---------------------------------------------
86 Sale Total
<CAPTION>
Principal Cut-off Date First
Balance at Principal Payment Maturity Rem
Sale ID Account Origination Balance Date Date Term
- -----------------------------------------------------------------------------------------------------------------------------
<C> <C> <C> <C> <C> <C> <C>
SB40 10266127617 25,600.00 25,600.00 09/28/96 08/28/11 179.01
SB40 10266127629 15,400.00 15,400.00 09/22/96 08/22/11 178.82
SB40 10266127715 43,631.00 43,631.00 09/26/96 08/26/11 178.95
SB40 10266127743 16,500.00 16,500.00 09/19/96 08/19/16 238.72
SB40 10266127886 23,400.00 23,333.00 09/08/96 08/08/11 178.36
SB40 10266127996 40,400.00 40,400.00 10/03/96 09/03/11 179.21
SB40 10266127999 12,849.00 12,849.00 10/01/96 09/01/11 179.15
SB40 10266128029 15,000.00 15,000.00 10/05/96 09/05/11 179.28
SB40 10266128051 45,700.00 45,700.00 09/28/96 08/28/11 179.01
SB40 10266128181 55,200.00 55,042.08 09/08/96 08/08/11 178.36
SB40 10266128222 102,800.00 102,800.00 10/01/96 09/01/11 179.15
SB40 10266128273 130,500.00 130,358.94 08/03/96 07/03/16 237.17
SB40 10266128640 80,000.00 80,000.00 10/03/96 09/03/11 179.21
SB40 10266128721 56,300.00 56,300.00 10/03/96 09/03/11 179.21
SB40 10266128879 46,800.00 46,800.00 09/28/96 08/28/16 239.01
SB40 10266128882 210,000.00 210,000.00 09/27/96 08/27/11 178.98
SB40 10266128961 100,000.00 100,000.00 09/26/96 08/26/11 178.95
SB40 10266129110 21,800.00 21,800.00 10/09/96 09/09/11 179.41
SB40 10266129673 30,745.00 30,745.00 10/09/96 09/09/11 179.41
SB40 10266129778 17,259.00 17,259.00 10/01/96 09/01/16 239.15
SB40 10266129803 20,400.00 20,384.59 09/28/96 08/28/11 179.01
SB40 10266129871 53,900.00 53,900.00 10/05/96 09/05/26 359.28
SB40 10266129945 33,829.00 33,829.00 10/01/96 09/01/11 179.15
SB40 10266130176 100,000.00 100,000.00 10/03/96 09/03/11 179.21
------------------------------------------------------------ -------------
86 5,733,703.00 5,729,761.22 218.48
<CAPTION>
Original Current Scheduled
Date LTV Mortgage Payment
Sale ID Account Due Ratio Rate Int & Prin
- --------------------------------------------------------------------------------------------------
SB40 10266127617 09/28/96 89.9 12.250 311.37
SB40 10266127629 09/22/96 79.9 14.250 207.68
SB40 10266127715 09/26/96 90.0 12.250 530.68
SB40 10266127743 09/19/96 84.9 12.500 187.46
SB40 10266127886 10/08/96 65.0 11.500 273.36
SB40 10266127996 10/03/96 79.9 14.500 551.66
SB40 10266127999 10/01/96 84.9 12.750 160.46
SB40 10266128029 09/05/96 90.0 12.250 182.44
SB40 10266128051 09/28/96 74.9 12.250 555.85
SB40 10266128181 10/08/96 64.9 11.500 644.84
SB40 10266128222 10/01/96 84.9 11.750 1,037.67
SB40 10266128273 10/03/96 90.0 11.500 1,391.69
SB40 10266128640 10/03/96 77.6 11.750 807.53
SB40 10266128721 10/03/96 84.9 13.250 721.62
SB40 10266128879 09/28/96 79.7 14.590 602.13
SB40 10266128882 09/27/96 84.3 12.500 2,241.24
SB40 10266128961 09/26/96 71.4 10.500 914.74
SB40 10266129110 10/09/96 89.2 12.250 265.15
SB40 10266129673 10/09/96 88.3 12.250 373.95
SB40 10266129778 10/01/96 89.8 12.250 193.05
SB40 10266129803 10/28/96 89.7 12.250 213.77
SB40 10266129871 10/05/96 89.9 11.100 517.38
SB40 10266129945 10/01/96 79.8 14.250 407.53
SB40 10266130176 10/03/96 80.0 10.700 929.72
------------------ ----------------------------------------------
86 80.0 11.318 58,456.79
</TABLE>
<PAGE>
Alliance Funding Company Page 8 9/27/96
A division of Superior Bank FSB
Sale Schedule
1996-3 Class 1 - 1st Subsequent Transfer of
Fixed Rate Mortgages - Settlement 9/27/96
<TABLE>
<CAPTION>
Zip
Sale ID Account Name Address City State Code
- ------------------------------------------------------------------------------------------------------------------------------------
<C> <C> <S> <C> <C> <C> <C>
SB41 10266115340 WILSON CHRISTINE M 19 KILLEAN PARK ALBANY NY 12205
SB41 10266116145 LEGROS RICHARD 131-49 227TH STREET LAURELTON NY 11413
SB41 10266116348 LONG JOHN E 11 BABCOCK AVENUE SILVER CREEK NY 14136
SB41 10266119004 GAFFNEY WARREN H ROUTE 22 BOX 269 STEPHENTOWN NY 12168
SB41 10266119943 CLOUTIER DONALD J 16 NORTH CHEROKEE LANE BRICK NJ 08724
SB41 10266122204 GREEN JAMES T 4078 COURSEY LAKE RD DOUGLASVILLE GA 30135
SB41 10266122586 STRUSS KEVIN 34 RICHIE COURT NORTH SAINT JAMES NY 11780
SB41 10266123033 BAKSHI FARSHID 99-52 63RD AVENUE REGO PARK NY 11374
SB41 10266123091 YARSIEN ZAFRULLAH 40 SMITH LANE MIDDLE ISLAND NY 11953
SB41 10266123325 MECHAM DENNIE 3310 WEST 500 SOUTH VERNAL UT 84078
SB41 10266123501 MYERS MARK E 5812 82ND AVENUE COURT WEST TACOMA WA 98467
SB41 10266123717 CURRY ANNIE 13818-13820 COIT ROAD CLEVELAND OH 44110
SB41 10266124513 CHAPPELL ORVILLE B 141 CAROLINA AVENUE HOLDEN BEACH NC 28462
SB41 10266124670 SMITH ERIC 400 ALLEN ST. LANSING MI 48912
SB41 10266124709 FENSTER MARC 5441 CHARLES STREET PHILADELPHIA PA 19135
SB41 10266124885 BEJARANO JOSE 805 NEWTON STREET DENVER CO 80204
SB41 10266124941 MCWHALES CHARLES 320 MCKINLEY AVENUE BRIDGEPORT CT 06604
SB41 10266125384 CONCI VICTOR M 2712 WEST STREET PUEBLO CO 81003
SB41 10266125462 OLSON DAVE D 3490 OAKLEDGE ROAD SALT LAKE CITY UT 84121
SB41 10266125640 LEKIC MARK S 281 WEST 1700 SOUTH OREM UT 84058
SB41 10266125900 WHITAKER ROBERT 7214 N HUBERT TAMPA FL 33614
SB41 10266125989 HAHLBOHM JAE 1602 EAST FORKS ROAD BAY SHORE NY 11706
SB41 10266126160 KELLER IRWIN C 328 KELL AVENUE STATEN ISLAND NY 10314
SB41 10266126353 GORBY HARRY 109 LINCOLN STREET COKEBURG PA 15324
SB41 10266126751 ESPANA ANGEL 116 WAVERLY STREET YONKERS NY 10701
SB41 10266127041 DONLON DIANE 40120 LITTLE FARM ROAD PORT CHARLOTTE FL 33955
SB41 10266127143 TENHOEVE MARK R 393 NORTH 600 EAST HYRUM UT 84319
SB41 10266127234 TROSKO RICHARD 327 SUMMERWOOD LANE CASTLE ROCK CO 80104
SB41 10266127254 TOLMAN KEVIN L 1762 NORTH 280 WEST OREM UT 84057
SB41 10266127440 WILLIAMS RANDY LYNN 2634 WEST MOCKORANGE DRIVE WEST VALLEY CITY UT 84119
SB41 10266127593 SMOLIK STANISLAW 5418 WEST SCHUBERT CHICAGO IL 60639
SB41 10266127635 MACK EDWARD A 168 PENNYPACKER DRIVE WILLINGBORO NJ 08046
SB41 10266127681 WALLACE ROBERT 164 LAKEVIEW STANSBURY PARK UT 84074
SB41 10266127710 TOWNSEND PHILIP 16309 MORADAS DE AVILA TAMPA FL 33613
SB41 10266127745 LEE EARL JR 289 SAGINAW AVE CALUMET CITY IL 60409
SB41 10266127835 GARD JACK J 8944 MARIGOLD DRIVE NEW PORT RICHEY FL 34654
SB41 10266128052 LARSEN JOHN T 330 W. KILDERE COURT GRAYSLAKE IL 60030
SB41 10266128100 ROY DENA J 17 SUMMER STREET BRISTOL CT 06010
SB41 10266128137 WALKER KRISTY L 5410 WEST HEATH CIRCLE SALT LAKE CITY UT 84118
SB41 10266128199 BOST HAROLD KEITH 8453 GRAY FOX DRIVE EVERGREEN CO 80439
SB41 10266128275 KONTARINES EFSTATHOS 22-18 43RD ROAD ASTORIA NY 11105
SB41 10266128278 KRATZER MARK C 1200 FURNACE ROAD LINTHICUM MD 21090
SB41 10266128518 CHEVALLIER MARYSE 749 SPRAGUE STREET BALDWIN NY 11510
SB41 10266128550 SWAN CURTIS L 4075-4089 BENTON STREET WHEATRIDGE CO 80212
SB41 10266128644 KNITTEL JAMES L 4845 40TH AVENUE SOUTHWEST SEATTLE WA 98116
SB41 10266128653 BROWN JAMES L 320 CHATEAU COURT PITTSBURGH PA 15239
SB41 10266128695 HAYTHORN RUSSELL J 326 TARA DRIVE PITTSBURG PA 15236
SB41 10266128833 SCOTT WAYNE A 10031 BRUNETT AVENUE SILVER SPRING MD 20901
SB41 10266128850 FERGUSON STANLEY P 614 NE 20TH STREET WILTON MANOR FL 33305
SB41 10266128857 CARTER NANCY J 903 VALENCIA ROAD PLANT CITY FL 33566
SB41 10266128883 KETHLAOR JIM 19729 24TH DRIVE SE BOTHELL WA 98012
SB41 10266129002 WILLIAMSON LEWIS 719-721 WEST ELM STREET SCRANTON PA 18504
SB41 10266129048 MOORE SANDRA D 1714 SWEETWATER WEST CIRCLE APOPKA FL 32712
SB41 10266129067 BENKOVITZ STEPHEN 12 SANDY DRIVE SMITHTOWN NY 11787
SB41 10266129080 MCDONOUGH KENNETH W 11618 HEATHER STREET PHILADELPHIA PA 19116
SB41 10266129086 HAULISKA GLENN W SR 2540 HAHNTOWN WENDEL ROAD NORTH HUNTINGDON PA 15642
SB41 10266129133 JONES EDWARD M 399 WINDSOR AVENUE STRATFORD CT 06497
SB41 10266129161 DYBEVICK JAMES W 11684 OCEANSPRAY BLVD ENGLEWOOD FL 34224
SB41 10266129168 WEBSTER RACHEL CAMPBELL 200 RETNUH DRIVE WINSTON-SALEM NC 27105
SB41 10266129318 HULSE EDWARD J JR 5760 WESTSHORE DRIVE NEW PORT RICHEY FL 34652
SB41 10266129329 REGIER DARYL J 5559 SOUTH VAN GORDON STREET LITTLETON CO 80127
SB41 10266129482 CAULDER JAMES BRADFORD 122 WHITTIER LANE SE WINTER HAVEN FL 33884
<CAPTION>
Principal Cut-off Date First
Balance at Principal Payment Maturity Rem
Sale ID Account Origination Balance Date Date Term
- -----------------------------------------------------------------------------------------------------------------------------
<C> <C> <C> <C> <C> <C> <C>
SB41 10266115340 89,250.00 89,250.00 09/26/96 08/26/26 358.95
SB41 10266116145 40,000.00 40,000.00 10/09/96 09/09/11 179.41
SB41 10266116348 49,300.00 49,300.00 10/06/96 09/06/16 239.31
SB41 10266119004 60,000.00 60,000.00 09/27/96 08/27/26 358.98
SB41 10266119943 55,000.00 55,000.00 09/01/96 08/01/26 358.13
SB41 10266122204 25,000.00 24,722.96 08/08/96 07/08/11 177.34
SB41 10266122586 30,000.00 30,000.00 10/03/96 09/03/11 179.21
SB41 10266123033 40,000.00 40,000.00 09/26/96 08/26/11 178.95
SB41 10266123091 80,100.00 80,100.00 09/23/96 08/23/26 358.85
SB41 10266123325 74,800.00 74,800.00 09/27/96 08/27/11 178.98
SB41 10266123501 22,100.00 22,100.00 09/07/96 08/07/11 178.32
SB41 10266123717 22,000.00 22,000.00 10/06/96 09/06/11 179.31
SB41 10266124513 83,500.00 83,500.00 10/01/96 09/01/16 239.15
SB41 10266124670 28,000.00 28,000.00 09/05/96 08/05/11 178.26
SB41 10266124709 39,200.00 39,111.76 09/01/96 08/01/11 178.13
SB41 10266124885 30,000.00 30,000.00 10/09/96 09/09/11 179.41
SB41 10266124941 116,100.00 116,100.00 10/04/96 09/04/11 179.24
SB41 10266125384 40,600.00 40,600.00 10/12/96 09/12/11 179.51
SB41 10266125462 17,600.00 17,600.00 10/09/96 09/09/11 179.41
SB41 10266125640 24,000.00 17,498.37 09/27/96 08/27/11 178.98
SB41 10266125900 38,250.00 38,169.07 09/22/96 08/22/26 358.82
SB41 10266125989 99,450.00 99,450.00 09/23/96 08/23/11 178.85
SB41 10266126160 40,000.00 40,000.00 09/20/96 08/20/11 178.75
SB41 10266126353 20,000.00 20,000.00 09/28/96 08/28/11 179.01
SB41 10266126751 90,000.00 90,000.00 09/28/96 08/28/26 359.01
SB41 10266127041 64,000.00 62,865.99 09/23/96 08/23/26 358.85
SB41 10266127143 31,000.00 31,000.00 10/13/96 09/13/11 179.54
SB41 10266127234 29,790.00 29,790.00 10/09/96 09/09/11 179.41
SB41 10266127254 59,700.00 59,611.58 09/27/96 08/27/11 178.98
SB41 10266127440 30,900.00 30,900.00 10/03/96 09/03/11 179.21
SB41 10266127593 20,000.00 20,000.00 09/27/96 08/27/11 178.98
SB41 10266127635 72,000.00 71,849.00 09/26/96 08/26/11 178.95
SB41 10266127681 21,800.00 21,800.00 10/01/96 09/01/11 179.15
SB41 10266127710 133,000.00 133,000.00 09/28/96 08/28/11 179.01
SB41 10266127745 19,000.00 19,000.00 09/23/96 08/23/16 238.85
SB41 10266127835 46,400.00 46,400.00 10/01/96 09/01/26 359.15
SB41 10266128052 42,800.00 42,800.00 09/23/96 08/23/16 238.85
SB41 10266128100 73,600.00 73,600.00 10/01/96 09/01/11 179.15
SB41 10266128137 20,000.00 20,000.00 09/06/96 08/06/11 178.29
SB41 10266128199 33,000.00 33,000.00 10/11/96 09/11/11 179.47
SB41 10266128275 20,000.00 20,000.00 09/19/96 08/19/11 178.72
SB41 10266128278 46,300.00 46,300.00 10/06/96 09/06/16 239.31
SB41 10266128518 116,000.00 116,000.00 09/02/96 08/02/11 178.16
SB41 10266128550 50,900.00 50,900.00 10/06/96 09/06/11 179.31
SB41 10266128644 29,713.00 29,713.00 10/09/96 09/09/11 179.41
SB41 10266128653 71,400.00 71,400.00 10/01/96 09/01/11 179.15
SB41 10266128695 11,300.00 11,300.00 10/11/96 09/11/06 119.47
SB41 10266128833 79,500.00 79,500.00 10/06/96 09/06/26 359.31
SB41 10266128850 28,800.00 28,800.00 09/07/96 08/07/11 178.32
SB41 10266128857 24,000.00 24,000.00 10/03/96 09/03/11 179.21
SB41 10266128883 34,000.00 34,000.00 10/01/96 09/01/11 179.15
SB41 10266129002 14,000.00 14,000.00 10/10/96 09/10/16 239.44
SB41 10266129048 19,250.00 19,250.00 10/11/96 09/11/11 179.47
SB41 10266129067 61,500.00 61,500.00 10/05/96 09/05/11 179.28
SB41 10266129080 22,500.00 22,500.00 10/09/96 09/09/16 239.41
SB41 10266129086 58,500.00 58,428.86 09/26/96 08/26/16 238.95
SB41 10266129133 26,500.00 26,500.00 08/02/96 07/02/11 177.14
SB41 10266129161 19,500.00 19,500.00 10/09/96 09/09/11 179.41
SB41 10266129168 55,250.00 55,250.00 10/05/96 09/05/11 179.28
SB41 10266129318 301,000.00 301,000.00 10/01/96 09/01/11 179.15
SB41 10266129329 33,500.00 33,500.00 10/10/96 09/10/11 179.44
SB41 10266129482 56,950.00 56,950.00 09/26/96 08/26/26 358.95
<CAPTION>
Original Current Scheduled
Date LTV Mortgage Payment
Sale ID Account Due Ratio Rate Int & Prin
- --------------------------------------------------------------------------------------------------
SB41 10266115340 09/26/96 85.0 9.750 766.80
SB41 10266116145 10/09/96 79.1 13.350 453.45
SB41 10266116348 10/06/96 85.0 10.900 505.52
SB41 10266119004 09/27/96 82.1 12.200 626.42
SB41 10266119943 09/01/96 47.8 12.000 565.74
SB41 10266122204 10/08/96 18.2 13.750 328.75
SB41 10266122586 10/03/96 88.6 11.500 350.46
SB41 10266123033 09/26/96 80.9 10.990 454.39
SB41 10266123091 09/23/96 90.0 11.500 793.22
SB41 10266123325 09/27/96 85.0 9.750 642.65
SB41 10266123501 10/07/96 73.6 14.500 270.63
SB41 10266123717 10/06/96 40.0 10.850 207.02
SB41 10266124513 10/01/96 53.5 10.950 859.04
SB41 10266124670 10/05/96 62.2 9.750 240.56
SB41 10266124709 10/01/96 70.0 10.750 365.92
SB41 10266124885 10/09/96 67.8 10.250 268.83
SB41 10266124941 10/04/96 90.0 11.750 1,171.92
SB41 10266125384 10/12/96 70.0 10.000 436.29
SB41 10266125462 10/09/96 84.8 13.240 198.00
SB41 10266125640 11/27/96 78.7 12.700 259.87
SB41 10266125900 10/22/96 85.0 12.490 407.93
SB41 10266125989 09/23/96 85.0 12.000 1,022.96
SB41 10266126160 09/20/96 35.0 11.640 470.84
SB41 10266126353 09/28/96 60.6 11.990 239.91
SB41 10266126751 09/28/96 90.0 11.150 867.31
SB41 10266127041 11/23/96 80.0 11.990 657.82
SB41 10266127143 10/13/96 84.2 11.500 362.14
SB41 10266127234 10/09/96 89.9 12.250 362.34
SB41 10266127254 10/27/96 76.7 13.700 693.22
SB41 10266127440 10/03/96 74.6 12.800 336.99
SB41 10266127593 09/27/96 51.6 11.950 239.39
SB41 10266127635 10/26/96 80.0 12.190 751.15
SB41 10266127681 10/01/96 90.0 13.450 248.84
SB41 10266127710 09/28/96 69.6 11.490 1,316.07
SB41 10266127745 09/23/96 89.9 11.500 202.62
SB41 10266127835 10/01/96 80.0 13.490 531.11
SB41 10266128052 09/23/96 79.9 14.250 540.02
SB41 10266128100 10/01/96 80.0 10.700 684.28
SB41 10266128137 09/06/96 57.0 14.090 267.56
SB41 10266128199 10/11/96 63.4 11.500 385.50
SB41 10266128275 09/19/96 80.0 12.400 245.21
SB41 10266128278 10/06/96 84.3 12.990 542.11
SB41 10266128518 10/02/96 80.0 11.550 1,153.17
SB41 10266128550 10/06/96 68.9 10.850 478.97
SB41 10266128644 10/09/96 84.9 13.250 380.84
SB41 10266128653 10/01/96 80.2 12.900 898.69
SB41 10266128695 10/11/96 89.9 12.250 163.76
SB41 10266128833 10/06/96 50.3 12.490 847.85
SB41 10266128850 10/07/96 79.3 13.500 329.88
SB41 10266128857 10/03/96 60.0 11.990 246.68
SB41 10266128883 10/01/96 60.7 11.500 397.18
SB41 10266129002 10/10/96 71.6 12.990 163.92
SB41 10266129048 10/11/96 84.0 12.990 243.43
SB41 10266129067 10/05/96 84.9 11.480 608.09
SB41 10266129080 10/09/96 83.9 10.490 224.48
SB41 10266129086 10/26/96 63.5 10.650 589.96
SB41 10266129133 10/02/96 89.7 12.600 328.35
SB41 10266129161 10/09/96 74.9 11.700 230.28
SB41 10266129168 10/05/96 68.2 12.200 576.83
SB41 10266129318 10/01/96 70.0 11.250 2,923.50
SB41 10266129329 10/10/96 83.0 13.250 429.38
SB41 10266129482 09/26/96 85.0 12.490 607.36
</TABLE>
<PAGE>
Alliance Funding Company Page 9 9/27/96
A division of Superior Bank FSB
Sale Schedule
1996-3 Class 1 - 1st Subsequent Transfer of
Fixed Rate Mortgages - Settlement 9/27/96
<TABLE>
<CAPTION>
Zip
Sale ID Account Name Address City State Code
- ------------------------------------------------------------------------------------------------------------------------------------
<C> <C> <S> <C> <C> <C> <C>
SB41 10266129486 BIRTCH RICHARD T 21130 MEEHAN AVENUE PORT CHARLOTTE FL 33952
SB41 10266129590 HIGHSMITH ROBERT C 910 EAST PARIS STREET TAMPA FL 33604
SB41 10266129594 FOSTER SUSIE MAE 8223 BRICELYN STREET PITTSBURGH PA 15221
SB41 10266129663 MOON THOMAS A 7717 PIER RD PORT RICHEY FL 34668
SB41 10266129720 HANSEN BRAD H 6551 SOUTH LOTUS WAY WEST JORDAN UT 84084
SB41 10266129760 CLAUDAT EDWARD F 1208 84TH ST CT NW BRADENTON FL 34209
SB41 10266129781 RIGGINS CURTIS 1411 33RD AVENUE SEATTLE WA 98122
SB41 10266129927 PRICE RICHARD JAMES 1435 WEST 1850 NORTH LAYTON UT 84041
SB41 10266129931 TANNENBAUM STEPHAN K 16672 EAST PRENTICE CIRCLE AURORA CO 80015
SB41 10266129985 SMITH JR ERNEST 526 ROSS ST STEUBENVILLE OH 43952
SB41 10266130102 FREUDENSTEIN ROGER L 14323 THORNWOOD TRAIL HUDSON FL 34669
SB41 10266130219 HOFMANN THOMAS J 1202 PONTE VEDRA BLVD. PONTE VEDRA BEACH FL 32082
SB41 10266130220 SMITH JOAN 619 SE 47TH STREET CAPE CORAL FL 33904
SB41 10266130300 RENO RANDY W 9250 CODY LANE BROOMFIELD CO 80021
SB41 10266130383 WILBANKS SHERESA L 8837 SOUTH CACTUS FLOWER WAY LITTLETON CO 80126
SB41 10266130434 MASSEY LEON 8401 55TH WAY NORTH PINELLAS PARK FL 34665
SB41 10266130581 JACOBSON PAUL K 5907 SOUTH BLUE IRON WAY SALT LAKE CITY UT 84118
SB41 10266130608 JONES PORTIA MARIA 212 FITZWATER STREET PHILADELPHIA PA 19147
SB41 10266130648 EARLE DANIEL 10316 PENTECOST ROAD INDPLS IN 46239
SB41 10266130887 MCCUTCHEON CHRISTOPHER R 303 RESERVOIR ROAD WEST CHESTER PA 19380
SB41 10266131438 DOWNS JAMES F 438 MEADOW MILE FRASER CO 80442
---------------------------------------------
83 Sale Total
169 Total with Superior Bank
444 Grand Total
<CAPTION>
Principal Cut-off Date First
Balance at Principal Payment Maturity Rem
Sale ID Account Origination Balance Date Date Term
- -----------------------------------------------------------------------------------------------------------------------------
<C> <C> <C> <C> <C> <C> <C>
SB41 10266129486 11,385.00 11,385.00 10/11/96 09/11/11 179.47
SB41 10266129590 19,400.00 19,400.00 10/04/96 09/04/11 179.24
SB41 10266129594 32,000.00 32,000.00 10/11/96 09/11/11 179.47
SB41 10266129663 28,500.00 28,500.00 10/04/96 09/04/11 179.24
SB41 10266129720 25,000.00 25,000.00 10/10/96 09/10/16 239.44
SB41 10266129760 129,600.00 129,600.00 10/11/96 09/11/11 179.47
SB41 10266129781 154,700.00 154,587.40 09/26/96 08/26/11 178.95
SB41 10266129927 29,000.00 28,971.75 09/23/96 08/23/11 178.85
SB41 10266129931 35,000.00 35,000.00 10/10/96 09/10/11 179.44
SB41 10266129985 20,400.00 20,400.00 10/17/96 09/17/11 179.67
SB41 10266130102 34,500.00 34,500.00 10/10/96 09/10/11 179.44
SB41 10266130219 32,000.00 32,000.00 10/13/96 09/13/11 179.54
SB41 10266130220 23,400.00 23,400.00 10/11/96 09/11/16 239.47
SB41 10266130300 30,000.00 30,000.00 10/11/96 09/11/11 179.47
SB41 10266130383 142,800.00 142,800.00 10/12/96 09/12/26 359.51
SB41 10266130434 54,400.00 54,400.00 10/09/96 09/09/16 239.41
SB41 10266130581 12,497.00 12,469.09 09/28/96 08/28/11 179.01
SB41 10266130608 25,000.00 25,000.00 10/13/96 09/13/11 179.54
SB41 10266130648 37,900.00 37,900.00 10/11/96 09/11/11 179.47
SB41 10266130887 72,000.00 72,000.00 10/13/96 09/13/11 179.54
SB41 10266131438 89,925.00 89,925.00 10/13/96 09/13/11 179.54
------------------------------------------------------------ -------------
83 4,171,010.00 4,162,448.83 219.89
169 9,904,713.00 9,892,210.05 219.07
444 25,106,322.00 25,086,692.04 214.43
<CAPTION>
Original Current Scheduled
Date LTV Mortgage Payment
Sale ID Account Due Ratio Rate Int & Prin
- --------------------------------------------------------------------------------------------------
SB41 10266129486 10/11/96 84.8 11.400 132.28
SB41 10266129590 10/04/96 79.9 12.990 245.33
SB41 10266129594 10/11/96 80.0 11.250 310.80
SB41 10266129663 10/04/96 75.0 12.900 358.72
SB41 10266129720 10/10/96 69.6 11.750 270.93
SB41 10266129760 10/11/96 80.0 10.990 1,233.23
SB41 10266129781 10/26/96 85.0 13.750 1,802.43
SB41 10266129927 10/23/96 69.8 14.350 393.05
SB41 10266129931 10/10/96 88.6 11.950 358.67
SB41 10266129985 10/17/96 80.0 9.400 211.79
SB41 10266130102 10/10/96 85.1 12.200 418.51
SB41 10266130219 10/13/96 78.9 11.200 367.74
SB41 10266130220 10/11/96 60.0 10.650 235.98
SB41 10266130300 10/11/96 84.9 12.700 373.67
SB41 10266130383 10/12/96 85.0 12.200 1,490.88
SB41 10266130434 10/09/96 80.0 9.850 519.58
SB41 10266130581 10/28/96 85.0 13.700 163.92
SB41 10266130608 10/13/96 38.4 12.750 312.21
SB41 10266130648 10/11/96 89.8 12.250 460.98
SB41 10266130887 10/13/96 80.3 11.200 827.41
SB41 10266131438 10/13/96 75.0 9.600 762.71
------------------ ----------------------------------------------
83 76.3 11.780 44,214.22
169 78.5 11.513 102,671.01
444 77.6 11.684 265,804.75
</TABLE>
<PAGE>
Alliance Funding Company Page 1 9/27/96
A division of Superior Bank FSB
Sale Schedule A
1996-3 Class 2 - 1st Subsequent Transfer of
Adjustable Rate Mortgages - Settlement 9/27/96
<TABLE>
<CAPTION>
Zip
Sale ID Account Name Address City State Code
- -----------------------------------------------------------------------------------------------------------------------------------
<C> <C> <S> <C> <C> <C> <C>
ML140 10216120714 FRICANO MICHAEL P 6507 JACK ROGERS LANE PLAINFIELD IL 60544
ML140 10216122238 ZIEGLER MELVIN L 310 APACHE LANE HOFFMAN ESTATES IL 60194
ML140 10216125516 AMOS-RICHBURG MICHELLE 3356 QUINLAN STREET YORKTOWN HEIGHTS NY 10598
ML140 10216125592 GRUBAUGH GEORGE A 265 MARSHALL STREET LAKEWOOD CO 80226
ML140 10216125724 HALL CLYDE JR 409 S. 7TH AVE. MAYWOOD IL 60153
ML140 10216125810 ODONNEL PATRICK C 6822 LAKE AVENUE ELYRIA OH 44035
ML140 10216125819 AVILES JUAN 3354-56 N CENTRAL PARK CHICAGO IL 60618
ML140 10216126063 WALKER PATRICIA 1104 BRIARCLIFF STREET GRIFFIN GA 30223
ML140 10216126213 HARRIS DONALD 18638 HARTWELL ST. DETROIT MI 48235
ML140 10216126436 UDY VAL R 15230 NORTH 5325 WEST RIVERSIDE UT 84334
ML140 10216126599 ALLOWAY DONALD A 895 SOUTH 6TH STREET HARRISBURG OR 97446
ML140 10216127291 PAOLELLA GIOVANNI 475 WESLEY DRIVE ADDISON IL 60101
ML140 10216127296 BISHOP LARRY A 17871 DELAWARE ROSEVILLE MI 48066
ML140 10216127317 FRANCKOWIAK WAYNE A 109 COLDREN DRIVE PROSPECT HEIGHTS IL 60070
ML140 10216127584 MONTANA MARK J 4731 GRAND AVENUE WESTERN SPRINGS IL 60558
ML140 10216128058 NELSON LEONARD E 302 MAIN STREET PLAINFIELD IL 60544
ML140 10216128231 HOWARD DOROTHY 17 HALE COURT GLENDALE HEIGHTS IL 60139
ML140 10216128709 CULP RICHARD WILLIAM 14590 269TH AVENUE SE ISSAQUAH WA 98027
ML140 10216128915 TAYLOR JR PAUL D 4108 VEGAS DRIVE LAS VEGAS NV 89108
ML140 10216129186 CAULEY M CAD 1857 SOUTH 2300 EAST SALT LAKE CITY UT 84108
ML140 10216129367 FLORES SHERRY L 148 STUART STREET DENVER CO 80219
ML140 10216129412 CRUM JENNIFER 12178 SOUTH SUMMIT HOLLOW CIR RIVERTON UT 84065
ML140 10216129556 COLLETTI JAMES 365 PARKVIEW AVENUE ELMHURST IL 60126
ML140 10216129626 REDFORD DIANE UNCHONG 13981 EAST HAMPDEN PLACE AURORA CO 80014
ML140 10216130016 HESS DAVID LYNN 8219 WEST DANBURY DRIVE MAGNA UT 84044
ML140 10216130213 RICHARDS ALFRED D 104 WEST 5050 SOUTH WASHINGTON TERRACE UT 84405
--------------------------------------------
26 Sale Total
<CAPTION>
Principal Cut-off Date First
Balance at Principal Payment Maturity
Sale ID Account Origination Balance Date Date
- ----------------------------------------------------------------------------------------------------------------
<C> <C> <C> <C> <C> <C>
ML140 10216120714 122,500.00 122,500.00 10/01/96 09/01/26
ML140 10216122238 143,100.00 142,894.41 08/01/96 07/01/26
ML140 10216125516 150,300.00 150,300.00 10/01/96 09/01/26
ML140 10216125592 99,750.00 99,750.00 11/01/96 10/01/26
ML140 10216125724 60,700.00 60,700.00 10/01/96 09/01/26
ML140 10216125810 57,750.00 57,750.00 10/01/96 09/01/26
ML140 10216125819 246,500.00 246,500.00 10/01/96 09/01/26
ML140 10216126063 40,500.00 40,500.00 10/01/96 09/01/26
ML140 10216126213 53,200.00 53,200.00 10/01/96 09/01/26
ML140 10216126436 60,000.00 60,000.00 11/01/96 10/01/26
ML140 10216126599 148,000.00 148,000.00 10/01/96 09/01/26
ML140 10216127291 131,200.00 131,200.00 10/01/96 09/01/26
ML140 10216127296 83,300.00 83,300.00 10/01/96 09/01/26
ML140 10216127317 261,000.00 261,000.00 10/01/96 09/01/26
ML140 10216127584 420,000.00 420,000.00 10/01/96 09/01/26
ML140 10216128058 75,000.00 75,000.00 10/01/96 09/01/26
ML140 10216128231 70,000.00 70,000.00 10/01/96 09/01/26
ML140 10216128709 220,000.00 220,000.00 10/01/96 09/01/26
ML140 10216128915 135,000.00 135,000.00 10/01/96 09/01/26
ML140 10216129186 138,250.00 138,250.00 10/01/96 09/01/26
ML140 10216129367 60,000.00 60,000.00 10/01/96 09/01/26
ML140 10216129412 126,750.00 126,750.00 10/01/96 09/01/26
ML140 10216129556 228,000.00 228,000.00 10/01/96 09/01/26
ML140 10216129626 152,000.00 152,000.00 11/01/96 10/01/26
ML140 10216130016 75,650.00 75,650.00 10/01/96 09/01/26
ML140 10216130213 67,900.00 67,900.00 11/01/96 10/01/26
---------------- -----------------------------------
26 3,426,350.00 3,426,144.41
</TABLE>
Initial Minimum Maximum
Mortgage Mortgage Mortgage Gross
Sale ID Account Rate Rate Rate Margin
- -----------------------------------------------------------------------------
ML140 10216120714 11.125 11.125 17.125 7.500
ML140 10216122238 9.625 9.625 15.625 6.250
ML140 10216125516 9.875 9.875 15.875 5.750
ML140 10216125592 9.625 9.625 15.625 6.000
ML140 10216125724 9.625 9.625 15.625 6.000
ML140 10216125810 10.875 10.875 16.875 7.250
ML140 10216125819 10.875 10.875 16.875 7.000
ML140 10216126063 11.125 11.125 17.125 7.750
ML140 10216126213 9.875 9.875 15.875 6.000
ML140 10216126436 8.625 8.625 14.625 5.000
ML140 10216126599 11.375 11.375 17.375 7.750
ML140 10216127291 9.375 9.375 15.375 5.750
ML140 10216127296 8.375 8.375 14.375 4.500
ML140 10216127317 9.000 9.000 15.000 5.000
ML140 10216127584 9.625 9.625 15.625 6.000
ML140 10216128058 11.125 11.125 17.125 6.750
ML140 10216128231 9.375 9.375 15.375 5.750
ML140 10216128709 9.875 9.875 15.875 6.250
ML140 10216128915 8.625 8.625 14.625 5.750
ML140 10216129186 9.125 9.125 15.125 5.500
ML140 10216129367 8.875 8.875 14.875 5.250
ML140 10216129412 9.375 9.375 15.375 5.750
ML140 10216129556 11.500 11.500 17.500 7.500
ML140 10216129626 8.875 8.875 14.875 5.250
ML140 10216130016 9.875 9.875 15.875 6.250
ML140 10216130213 8.875 8.875 14.875 5.250
--------------------------------------------------------------
26 9.837 9.837 15.837 6.135
<PAGE>
Alliance Funding Company Page 2 9/27/96
A division of Superior Bank FSB
Sale Schedule A
1996-3 Class 2 - 1st Subsequent Transfer of
Adjustable Rate Mortgages - Settlement 9/27/96
<TABLE>
<CAPTION>
Zip
Sale ID Account Name Address City State Code
- -----------------------------------------------------------------------------------------------------------------------------------
<C> <C> <S> <C> <C> <C> <C>
ML141 10216113824 BAER JAY P 3030 NICODEMUS ROAD WESTMINSTER MD 21157
ML141 10216115285 SWAYBILL MONICA 28 VICTORIA DRIVE NEWBURGH NY 12550
ML141 10216120159 TORRES JOSE MIQUEL 124 PARKVIEW AVENUE WEEHAWKEN NJ 07087
ML141 10216121337 BROWN RICHARD 137-58 BELKNAP STREET SPRINGFIELD GARDENS NY 11413
ML141 10216121359 BERRY ANNIE L 8517 GREEN LANE BALTIMORE MD 21244
ML141 10216122996 BURKE WILLIAM R 1336 CHARTWELL DUAL CARRIAGE EAST LANSING MI 48823
ML141 10216123506 CORDERA SANDRA L 300 ALEXANDER ROAD NEW BRITAIN CT 06053
ML141 10216123679 JARAMILLO JUAN 33-21 74TH STREET JACKSON HEIGHTS NY 11372
ML141 10216125425 PASLEY KELITA 194-17 116 ROAD SAINT ALBANS NY 11412
ML141 10216125597 CARPENTER ROBERT E 4423 WEST 5855 SOUTH KEARNS UT 84118
ML141 10216125697 FIUME ALFRED M 197 WHEATON PLACE RUTHERFORD NJ 07070
ML141 10216125984 HARRIS JUDITH M 5400 OVERLOOK DRIVE NE ALBUQUERQUE NM 87111
ML141 10216126104 PLEET LOUIS ABRAHAM 6233 OAK HILL DRIVE SYKESVILLE MD 21784
ML141 10216126119 GOEMBEL PATRICK 117 URBAN DRIVE CARY NC 27511
ML141 10216126192 BARLOW RYAN TY 2222 NORTH RICHLAND STREET PHOENIX AZ 85006
ML141 10216126402 HOOVER DANIEL L 207 CENTER STREET FENTON MI 48430
ML141 10216126504 DECARLO FRANK EAST 100 PROSPECT STREET PARAMUS NJ 07652
ML141 10216126508 MCCALL CHARLES 132 WHISCONIER ROAD BROOKFIELD CT 06804
ML141 10216126548 WINTERS WAYNE E 832 MIDDLE DRIVE WHITELAND IN 46184
ML141 10216126635 UPSHAW GERALD DWAYNE 7037 VIA DEL RIO SAN JOSE CA 95139
ML141 10216126700 AL-GASID MOHAYMAN 4200 LAPHAM DEARBORN MI 48126
ML141 10216126877 HERMIZ MAJID 5770 TEQUESTA W. BLOOMFIELD MI 48323
ML141 10216126974 DEUGENIO ENRICO 8636 E JOSHUA TREE LANE SCOTTSDALE AZ 85250
ML141 10216127375 PEARSON BLAINE 1515 33RD STREET OGDEN UT 84403
ML141 10216127380 ROBERTO WAYNE 606 APPOLO ROAD LAKEWOOD NJ 08701
ML141 10216127446 SEXTON MARK S 2315 APRES SKI WAY STEAMBOAT SPRINGS CO 80477
ML141 10216127614 SMITH MICHAEL A 5073 WINSTON SWARTZ CREEK MI 48473
ML141 10216127780 BROWN RANDY D 1035 NORTH 400 WEST BOUNTIFUL UT 84010
ML141 10216127873 WYCOFF GENE K 4071 SOUTH SKYLINE DRIVE EVERGREEN CO 80439
ML141 10216127905 PRYOR DAVID B 1482 NITA PINCKNEY MI 48169
ML141 10216127994 SHADDIX BILL J 2734 EAST VISTA DRIVE PHOENIX AZ 85026
ML141 10216128004 HARNISHER DIANE 64 WEST 18TH ROAD BROAD CHANNEL NY 11693
ML141 10216128245 LIDDELL CHRISTOPHER W 2603 PINCKNEY ROAD MARION TOWNSHIP MI 48843
ML141 10216128349 HILL KENNETH A 7 ALLEGHENY DRIVE EAST FARMINGVILLE NY 11738
ML141 10216128398 WONG CAROL M 7118 EMERSON AVENUE UPPER DARBY PA 19082
ML141 10216128665 AKERS CHRISTOPHER F 1851 PARADISE VALLEY COURT TRACY CA 95376
ML141 10216128943 LITTLE PERRY 40 ALPINE ROAD WANTAGE NJ 07461
ML141 10216129074 BROKENBEK SARAH S 100 GROSVENOR DRIVE BUTLER PA 16001
ML141 10216129297 REED BRENDA K 731 W WILKES-BARRE STREET EASTON PA 18042
ML141 10216129436 LEWIS MELONICE 8137 SOUTH LANGLEY CHICAGO IL 60619
ML141 10216129441 FLANAGAN MICHAEL J 535 LOIS LANE LINO LAKES MN 55014
ML141 10216129453 REINHART WILLIAM 9031 BROOKLINE PLYMOUTH MI 48170
ML141 10216129655 SMITH ROBERT M 10863 112TH PLACE NO LARGO FL 33778
ML141 10216130205 NASSEREDDINE MOHAMAD 6839 HARTWELL DEARBORN MI 48126
--------------------------------------------
44 Sale Total
70 Total with Merrill Lynch
<CAPTION>
Principal Cut-off Date First
Balance at Principal Payment Maturity
Sale ID Account Origination Balance Date Date
- ----------------------------------------------------------------------------------------------------------------
<C> <C> <C> <C> <C> <C>
ML141 10216113824 178,000.00 177,828.76 07/01/96 06/01/26
ML141 10216115285 107,200.00 107,148.64 09/01/96 08/01/26
ML141 10216120159 130,000.00 130,000.00 10/01/96 09/01/26
ML141 10216121337 160,000.00 160,000.00 10/01/96 09/01/26
ML141 10216121359 85,500.00 85,500.00 10/01/96 09/01/26
ML141 10216122996 114,000.00 114,000.00 11/01/96 10/01/26
ML141 10216123506 102,000.00 102,000.00 10/01/96 09/01/26
ML141 10216123679 147,000.00 147,000.00 10/01/96 09/01/26
ML141 10216125425 135,000.00 134,935.32 10/01/96 09/01/26
ML141 10216125597 90,000.00 90,000.00 10/01/96 09/01/26
ML141 10216125697 170,910.00 170,910.00 10/01/96 09/01/26
ML141 10216125984 153,500.00 153,500.00 10/01/96 09/01/26
ML141 10216126104 138,750.00 138,750.00 10/01/96 09/01/26
ML141 10216126119 79,000.00 79,000.00 10/01/96 09/01/26
ML141 10216126192 44,625.00 44,625.00 10/01/96 09/01/26
ML141 10216126402 56,000.00 56,000.00 10/01/96 09/01/26
ML141 10216126504 325,000.00 325,000.00 10/01/96 09/01/26
ML141 10216126508 84,500.00 84,500.00 10/01/96 09/01/26
ML141 10216126548 56,200.00 56,200.00 10/01/96 09/01/26
ML141 10216126635 231,300.00 231,300.00 10/01/96 09/01/26
ML141 10216126700 82,800.00 82,760.34 10/01/96 09/01/26
ML141 10216126877 178,200.00 178,200.00 09/01/96 08/01/26
ML141 10216126974 182,600.00 182,600.00 10/01/96 09/01/26
ML141 10216127375 135,000.00 135,000.00 11/01/96 10/01/26
ML141 10216127380 80,000.00 80,000.00 10/01/96 09/01/26
ML141 10216127446 199,500.00 199,500.00 10/01/96 09/01/26
ML141 10216127614 83,300.00 83,300.00 10/01/96 09/01/26
ML141 10216127780 76,000.00 76,000.00 10/01/96 09/01/26
ML141 10216127873 164,000.00 164,000.00 11/01/96 10/01/26
ML141 10216127905 365,000.00 365,000.00 11/01/96 10/01/26
ML141 10216127994 140,000.00 140,000.00 10/01/96 09/01/26
ML141 10216128004 52,500.00 52,500.00 10/01/96 09/01/26
ML141 10216128245 191,200.00 191,200.00 10/01/96 09/01/26
ML141 10216128349 80,000.00 79,961.68 10/01/96 09/01/26
ML141 10216128398 25,500.00 25,500.00 09/19/96 08/19/26
ML141 10216128665 147,600.00 147,600.00 10/01/96 09/01/26
ML141 10216128943 76,800.00 76,800.00 10/01/96 09/01/26
ML141 10216129074 168,300.00 168,300.00 11/01/96 10/01/26
ML141 10216129297 73,200.00 73,200.00 11/01/96 10/01/26
ML141 10216129436 103,100.00 103,100.00 10/01/96 09/01/26
ML141 10216129441 103,000.00 103,000.00 11/01/96 10/01/26
ML141 10216129453 87,900.00 87,900.00 10/01/96 09/01/26
ML141 10216129655 61,600.00 61,600.00 11/01/96 10/01/26
ML141 10216130205 96,300.00 96,300.00 10/01/96 09/01/26
---------------- -----------------------------------
44 5,541,885.00 5,541,519.74
70 8,968,235.00 8,967,664.15
</TABLE>
Initial Minimum Maximum
Mortgage Mortgage Mortgage Gross
Sale ID Account Rate Rate Rate Margin
- -----------------------------------------------------------------------------
ML141 10216113824 9.625 9.625 15.625 6.000
ML141 10216115285 9.625 9.625 15.625 6.250
ML141 10216120159 11.500 11.500 17.500 7.750
ML141 10216121337 10.625 10.625 16.625 6.750
ML141 10216121359 11.125 11.125 17.125 8.250
ML141 10216122996 8.875 8.875 14.875 5.000
ML141 10216123506 10.875 10.875 16.875 6.750
ML141 10216123679 10.875 10.875 16.875 7.750
ML141 10216125425 9.625 9.625 15.625 5.750
ML141 10216125597 10.375 10.375 16.375 6.750
ML141 10216125697 9.625 9.625 15.625 6.750
ML141 10216125984 8.875 8.875 14.875 5.250
ML141 10216126104 11.500 11.500 17.500 7.250
ML141 10216126119 9.375 9.375 15.375 5.250
ML141 10216126192 10.375 10.375 16.375 6.500
ML141 10216126402 9.125 9.125 15.125 5.000
ML141 10216126504 12.125 12.125 18.125 8.500
ML141 10216126508 12.375 12.375 18.375 7.750
ML141 10216126548 10.000 10.000 16.000 5.750
ML141 10216126635 8.875 8.875 14.875 5.000
ML141 10216126700 9.625 9.625 15.625 5.750
ML141 10216126877 9.625 9.625 15.625 5.750
ML141 10216126974 10.875 10.875 16.875 7.000
ML141 10216127375 9.125 9.125 15.125 5.500
ML141 10216127380 12.375 12.375 18.375 8.500
ML141 10216127446 8.625 8.625 14.625 5.000
ML141 10216127614 8.875 8.875 14.875 5.000
ML141 10216127780 11.875 11.875 17.875 8.250
ML141 10216127873 10.625 10.625 16.625 7.000
ML141 10216127905 7.625 7.625 13.625 3.750
ML141 10216127994 8.875 8.875 14.875 5.250
ML141 10216128004 10.375 10.375 16.375 6.750
ML141 10216128245 7.875 7.875 13.875 3.750
ML141 10216128349 9.625 9.625 15.625 6.500
ML141 10216128398 10.625 10.625 16.625 6.750
ML141 10216128665 8.875 8.875 14.875 5.000
ML141 10216128943 11.750 11.750 17.750 8.500
ML141 10216129074 9.250 9.250 15.250 5.400
ML141 10216129297 11.250 11.250 17.250 7.250
ML141 10216129436 9.625 9.625 15.625 6.000
ML141 10216129441 10.125 10.125 16.125 6.250
ML141 10216129453 10.625 10.625 16.625 6.750
ML141 10216129655 11.500 11.500 17.500 7.500
ML141 10216130205 9.625 9.625 15.625 5.750
--------------------------------------------------------------
44 9.907 9.907 15.907 6.157
70 9.880 9.880 15.880 6.148
<PAGE>
Alliance Funding Company Page 3 9/27/96
A division of Superior Bank FSB
Sale Schedule A
1996-3 Class 2 - 1st Subsequent Transfer of
Adjustable Rate Mortgages - Settlement 9/27/96
<TABLE>
<CAPTION>
Zip
Sale ID Account Name Address City State Code
- -----------------------------------------------------------------------------------------------------------------------------------
<C> <C> <S> <C> <C> <C> <C>
SB537 10216114554 TAYLOR THOMAS J 189 SCHLENZ COURT WYCKOFF NJ 07481
SB537 10216115716 STIDHAM GREGORY SCOTT 1011 WILSON AVENUE VICKERY OH 43464
SB537 10216119657 VOLCHIK ZEEV 34 LONGSTREET ROAD MANALAPAN NJ 07726
SB537 10216120393 DEWEAVER LINDA 4916 ORCHARD ROAD GARFIELD HEIGHTS OH 44128
SB537 10216122693 MINNICK JESSIE L 3545 CONCORD DRIVE ERLANGER KY 41018
SB537 10216122836 BENNETT SHARON 1020 N. MONITOR AVENUE CHICAGO IL 60651
SB537 10216123428 TORRES SANDRA 1428 GREENE AVENUE BROOKLYN NY 11237
SB537 10216123779 WATSON CALVIN 183-04 ELMIRA AVENUE SAINT ALBANS NY 11412
SB537 10216123881 JUSTICE PAUL 755 CLEOPHUS LINCOLN PARK MI 48146
SB537 10216124442 PRITCHETT JENNIFER 15128 WILLOW OAK FOREST IL 60452
SB537 10216124662 RAGLAND RAFUR C 15228 SOUTH LOOMIS HARVEY IL 60426
SB537 10216125746 HAZELTON DANIEL L 4407 BEDFORD DETROIT MI 48224
SB537 10216125803 GIBSON VANESSA 115 CHICAGO BLVD DETROIT MI 48202
SB537 10216126394 BUSS TINA M 33 SOUTH BROAD STREET BATTLE CREEK MI 49017
SB537 10216126397 WARD SCOTT J 3800 NORTH LAKE SHORE DRIVE CHICAGO IL 60613
SB537 10216126524 SOMMERS MARK ALLAN 12920 STATE RT. 61 COLLINS OH 44826
SB537 10216126675 SMITH MARGARET 951 JONES DRIVE SALEM OH 44460
SB537 10216126988 JAMES CATHERINE 11303 S. STEWART CHICAGO IL 60628
SB537 10216127012 WILLOH JOHN ROBERT 38320 NORTH LANE UNIT 108 WILLOUGHBY OH 44094
SB537 10216127359 MOLDOFSKY LANNY 22940 LONG GROVE ROAD BARRINGTON IL 60010
SB537 10216127596 MURZANSKI CHRIS A 421 SANTA FE TRAIL CARY IL 60013
SB537 10216128236 HEATON TIMOTHY J 708 59TH STREET LISLE IL 60532
SB537 10216128927 MORRIS CORINE 1209 GAGE JOLIET IL 60436
SB537 10216128935 MCNELLEY PATRICK L 615 IVY COURT KENILWORTH IL 60043
SB537 10216129444 SOBH MOHAMAD 6906 ST. MARY'S DETROIT MI 48228
SB537 10216129982 SOBH JALAL M 7244 FORRER DETROIT MI 48228
--------------------------------------------
26 Sale Total
<CAPTION>
Principal Cut-off Date First
Balance at Principal Payment Maturity
Sale ID Account Origination Balance Date Date
- ----------------------------------------------------------------------------------------------------------------
<C> <C> <C> <C> <C> <C>
SB537 10216114554 257,600.00 257,434.57 08/01/96 07/01/26
SB537 10216115716 37,300.00 37,256.92 08/01/96 07/01/26
SB537 10216119657 207,000.00 207,000.00 10/01/96 09/01/26
SB537 10216120393 49,000.00 48,983.48 09/01/96 08/01/26
SB537 10216122693 80,700.00 80,649.84 09/01/96 08/01/26
SB537 10216122836 91,700.00 91,636.89 09/01/96 08/01/26
SB537 10216123428 148,000.00 148,000.00 10/01/96 09/01/26
SB537 10216123779 152,000.00 151,934.53 10/01/96 09/01/26
SB537 10216123881 37,000.00 37,000.00 10/01/96 09/01/26
SB537 10216124442 100,000.00 100,000.00 10/01/96 09/01/26
SB537 10216124662 46,200.00 46,182.61 09/01/96 08/01/26
SB537 10216125746 32,000.00 31,989.49 10/01/96 09/01/26
SB537 10216125803 115,500.00 115,500.00 10/01/96 09/01/26
SB537 10216126394 35,000.00 35,000.00 10/01/96 09/01/26
SB537 10216126397 75,000.00 75,000.00 10/01/96 09/01/26
SB537 10216126524 104,000.00 104,000.00 10/01/96 09/01/26
SB537 10216126675 38,400.00 38,400.00 10/01/96 09/01/26
SB537 10216126988 59,200.00 59,200.00 10/01/96 09/01/26
SB537 10216127012 30,000.00 29,979.36 10/01/96 09/01/26
SB537 10216127359 241,500.00 241,420.67 10/01/96 09/01/26
SB537 10216127596 162,000.00 162,000.00 10/01/96 09/01/26
SB537 10216128236 105,000.00 105,000.00 10/01/96 09/01/26
SB537 10216128927 24,700.00 24,700.00 10/01/96 09/01/26
SB537 10216128935 328,000.00 328,000.00 10/01/96 09/01/26
SB537 10216129444 36,900.00 36,900.00 10/01/96 09/01/26
SB537 10216129982 46,700.00 46,700.00 10/01/96 09/01/26
---------------- -----------------------------------
26 2,640,400.00 2,639,868.36
</TABLE>
Initial Minimum Maximum
Mortgage Mortgage Mortgage Gross
Sale ID Account Rate Rate Rate Margin
- -----------------------------------------------------------------------------
SB537 10216114554 11.500 11.500 17.500 8.500
SB537 10216115716 8.750 8.750 14.750 5.000
SB537 10216119657 9.625 9.625 15.625 6.000
SB537 10216120393 11.375 11.375 17.375 7.500
SB537 10216122693 8.375 8.375 14.375 4.500
SB537 10216122836 7.875 7.875 13.875 4.000
SB537 10216123428 9.625 9.625 15.625 5.750
SB537 10216123779 10.125 10.125 16.125 6.250
SB537 10216123881 9.875 9.875 15.875 6.000
SB537 10216124442 10.250 10.250 16.250 6.000
SB537 10216124662 10.750 10.750 16.750 6.250
SB537 10216125746 11.375 11.375 17.375 7.500
SB537 10216125803 9.125 9.125 15.125 5.500
SB537 10216126394 8.875 8.875 14.875 5.000
SB537 10216126397 10.000 10.000 16.000 6.000
SB537 10216126524 9.875 9.875 15.875 6.000
SB537 10216126675 11.125 11.125 17.125 6.750
SB537 10216126988 9.625 9.625 15.625 6.000
SB537 10216127012 7.875 7.875 13.875 3.750
SB537 10216127359 11.375 11.375 17.375 6.750
SB537 10216127596 9.875 9.875 15.875 5.750
SB537 10216128236 9.625 9.625 15.625 6.000
SB537 10216128927 11.125 11.125 17.125 6.750
SB537 10216128935 10.750 10.750 16.750 7.500
SB537 10216129444 9.625 9.625 15.625 5.750
SB537 10216129982 8.375 8.375 14.375 4.500
--------------------------------------------------------------
26 10.124 10.124 16.124 6.332
<PAGE>
Alliance Funding Company Page 4 9/27/96
A division of Superior Bank FSB
Sale Schedule A
1996-3 Class 2 - 1st Subsequent Transfer of
Adjustable Rate Mortgages - Settlement 9/27/96
<TABLE>
<CAPTION>
Zip
Sale ID Account Name Address City State Code
- -----------------------------------------------------------------------------------------------------------------------------------
<C> <C> <S> <C> <C> <C> <C>
SB538 10216116171 SANCHEZ JOSE ANTHONY JR 184 ROCKAWAY AVENUE BROOKLYN NY 11233
SB538 10216121461 GANZ DAVID A 610-612 AUMACK AVENUE UNION BEACH NJ 07735
SB538 10216121720 BENHAM JONATHAN W 119 GOLDEN ROD LANE FISHERS IN 46038
SB538 10216122354 ESPOSITO SALVATORE 175 FALCON AVENUE PATCHOGUE NY 11772
SB538 10216122424 BRUCE RALPH 9 BROOKWOOD DRIVE WYANDANCH NY 11798
SB538 10216122842 SHKRELI MARIE 11663 WATKINS COURT SHELBY TOWNSHIP MI 48315
SB538 10216122993 BOUCHER JAMES M 26718 HAMPDEN MADISON HEIGHTS MI 48071
SB538 10216122995 AL-ABDULRASUL MOHAMMAD 7242 MAPLE DEARBORN MI 48126
SB538 10216123555 AL-AMIDI AHMED 6600 RUTHERFORD DETROIT MI 48226
SB538 10216123736 MARTIN LARRY W 626 CAHILL LANE INDIANAPOLIS IN 46214
SB538 10216124089 LEITHEISER CHARLES F 712 HIGH STREET WEST BEND WI 53095
SB538 10216124276 MAXWELL CHARLES E 691 TAYLOR DETROIT MI 48202
SB538 10216124535 PROCHLIAK PETRO 13 MAPLE STREET SOUTH RIVER NJ 08882
SB538 10216124675 MOORE ROGER D 34947 PHYLLIS WAYNE MI 48184
SB538 10216124948 PETTINELLA ANN M 43 MOUNTAIN VIEW ROAD FISHKILL NY 12524
SB538 10216125830 FADLALLAH HOUSSAM 5709 MC MILLAN DEARBORN HEIGHTS MI 48127
SB538 10216125841 CREW WILLIAM W 5681 S. INDIANAPOLIS WHITESTOWN IN 46075
SB538 10216126148 SENIOR ORVILLE 4112 BARNES AVENUE BRONX NY 10466
SB538 10216126238 LIGHTNER MARY CATHERINE 1710 BENNETT ROAD WILLIAMSTOWN KY 41097
SB538 10216126317 MILLS PRISCILLA 1507 EAST 98TH STREET BROOKLYN NY 11236
SB538 10216126615 GONZALEZ CRUZ 202 WINDSOR WAY STROUDSBURG PA 18360
SB538 10216126697 DUNIGAN ERIC V 15660 GLASTONBURY DETROIT MI 48235
SB538 10216126701 ASKAR ANGELO 7241 METTETAL DETROIT MI 48228
SB538 10216126702 COSTA MIKE 26445 BURG WARREN MI 48089
SB538 10216126797 SIMPSON IAN G 1330 FTELEY AVENUE BRONX NY 10472
SB538 10216126879 RASH JOEL 803 OAK STREET FLINT MI 48502
SB538 10216126998 ALMAYA MOHAMED A 4797 WESTLAND DEARBORN MI 48126
SB538 10216127172 AL-SHALUSHI AZARA 15041 TIREMAN DEARBORN MI 48126
SB538 10216127173 AL-JEBORI QASIM 6911 FORRER DETROIT MI 48228
SB538 10216127181 HANES JOSEPH C 4226 BROWNWAY AVE. CINCINNATI OH 45209
SB538 10216127319 ELMASRI SIREEN 7114 MEAD DEARBORN MI 48126
SB538 10216127604 NAWAZ RAB 1554 MARION LINCLON PARK MI 48146
SB538 10216127628 COLLINS PATRICIA L 338 NORTH 17TH AVENUE BEECH GROVE IN 46107
SB538 10216127755 HAYDOUS ALI H 7918 MANOR DEARBORN MI 48126
SB538 10216127757 HARTNER GARY F 49781 MAURICE DR. CHESTERFIELD TWP. MI 48047
SB538 10216127758 POWELL WANDALYN V 22700 SHEVINGTON SOUTHFIELD MI 48034
SB538 10216127910 MELCHER BARRY L 707 ORCHARD ST. ELSMERE KY 41018
SB538 10216128587 AL-YASIRY FADHIL 6320 ST. MARY'S DETROIT MI 48228
SB538 10216128588 ALBUJERAIW NAJEB 7427 MEMORIAL DETROIT MI 48228
SB538 10216128591 KING DARLENE 352 DORWIL DRIVE AKRON OH 44319
SB538 10216129435 WOLSKI CONRAD A 400 ROMONA ROAD WILMETTE IL 60091
SB538 10216129442 REDA HUSSEIN 6432 JONATHON DEARBORN MI 48126
SB538 10216129443 AL-ATABI DHAFER 5307 CALHOUN DEARBORN MI 48126
SB538 10216129717 AL-ADHIMY QAIS 7226 FIELDING DETROIT MI 48228
SB538 10216129811 DANIA RAFIU I 2000 EAST 171ST COURT SOUTH HOLLAND IL 60473
SB538 10216129830 BARRETT JAMES K 10768 173RD AVE. NORTHWEST ELK RIVER MN 55330
--------------------------------------------
46 Sale Total
<CAPTION>
Principal Cut-off Date First
Balance at Principal Payment Maturity
Sale ID Account Origination Balance Date Date
- ----------------------------------------------------------------------------------------------------------------
<C> <C> <C> <C> <C> <C>
SB538 10216116171 153,000.00 153,000.00 09/01/96 08/01/26
SB538 10216121461 84,000.00 84,000.00 10/01/96 09/01/26
SB538 10216121720 120,500.00 120,266.51 09/01/96 08/01/26
SB538 10216122354 112,200.00 112,149.02 10/01/96 09/01/26
SB538 10216122424 120,000.00 120,000.00 10/01/96 09/01/26
SB538 10216122842 243,000.00 242,886.63 09/01/96 08/01/26
SB538 10216122993 72,000.00 72,000.00 10/01/96 09/01/26
SB538 10216122995 90,000.00 89,913.43 08/01/96 07/01/26
SB538 10216123555 41,400.00 41,400.00 10/01/96 09/01/26
SB538 10216123736 110,450.00 110,381.35 09/01/96 08/01/26
SB538 10216124089 81,900.00 81,900.00 10/01/96 09/01/26
SB538 10216124276 58,500.00 58,473.43 09/01/96 08/01/26
SB538 10216124535 63,000.00 63,000.00 10/01/96 09/01/26
SB538 10216124675 56,000.00 55,966.08 09/01/96 08/01/26
SB538 10216124948 97,100.00 97,100.00 10/01/96 09/01/26
SB538 10216125830 72,900.00 72,859.13 09/01/96 08/01/26
SB538 10216125841 56,800.00 56,800.00 10/01/96 09/01/26
SB538 10216126148 194,400.00 194,400.00 10/01/96 09/01/26
SB538 10216126238 72,100.00 72,076.32 09/01/96 08/01/26
SB538 10216126317 216,000.00 216,000.00 10/01/96 09/01/26
SB538 10216126615 172,350.00 172,350.00 10/01/96 09/01/26
SB538 10216126697 33,000.00 33,000.00 10/01/96 09/01/26
SB538 10216126701 52,000.00 52,000.00 10/01/96 09/01/26
SB538 10216126702 98,400.00 98,400.00 10/01/96 09/01/26
SB538 10216126797 157,250.00 157,250.00 10/01/96 09/01/26
SB538 10216126879 14,400.00 14,400.00 10/01/96 09/01/26
SB538 10216126998 55,300.00 55,300.00 10/01/96 09/01/26
SB538 10216127172 53,100.00 53,100.00 10/01/96 09/01/26
SB538 10216127173 41,400.00 41,400.00 10/01/96 09/01/26
SB538 10216127181 44,100.00 44,100.00 10/01/96 09/01/26
SB538 10216127319 110,500.00 110,500.00 10/01/96 09/01/26
SB538 10216127604 50,000.00 50,000.00 10/01/96 09/01/26
SB538 10216127628 68,000.00 68,000.00 10/01/96 09/01/26
SB538 10216127755 90,400.00 90,400.00 10/01/96 09/01/26
SB538 10216127757 180,000.00 180,000.00 10/01/96 09/01/26
SB538 10216127758 132,000.00 132,000.00 10/01/96 09/01/26
SB538 10216127910 46,700.00 46,700.00 10/01/96 09/01/26
SB538 10216128587 30,800.00 30,800.00 10/01/96 09/01/26
SB538 10216128588 43,200.00 43,200.00 10/01/96 09/01/26
SB538 10216128591 66,000.00 66,000.00 10/01/96 09/01/26
SB538 10216129435 208,000.00 208,000.00 10/01/96 09/01/26
SB538 10216129442 67,100.00 67,100.00 10/01/96 09/01/26
SB538 10216129443 78,300.00 78,300.00 10/01/96 09/01/26
SB538 10216129717 44,100.00 44,100.00 10/01/96 09/01/26
SB538 10216129811 212,700.00 212,700.00 10/01/96 09/01/26
SB538 10216129830 157,500.00 157,426.52 10/01/96 09/01/26
---------------- -----------------------------------
46 4,421,850.00 4,421,098.42
</TABLE>
Initial Minimum Maximum
Mortgage Mortgage Mortgage Gross
Sale ID Account Rate Rate Rate Margin
- -----------------------------------------------------------------------------
SB538 10216116171 9.625 9.625 15.625 5.750
SB538 10216121461 11.375 11.375 17.375 8.500
SB538 10216121720 9.625 9.625 15.625 5.750
SB538 10216122354 9.875 9.875 15.875 7.250
SB538 10216122424 9.125 9.125 15.125 6.250
SB538 10216122842 9.750 9.750 15.750 5.750
SB538 10216122993 8.875 8.875 14.875 5.000
SB538 10216122995 9.625 9.625 15.625 5.750
SB538 10216123555 9.875 9.875 15.875 5.750
SB538 10216123736 8.375 8.375 14.375 4.500
SB538 10216124089 9.625 9.625 15.625 5.750
SB538 10216124276 9.875 9.875 15.875 6.000
SB538 10216124535 10.625 10.625 16.625 6.750
SB538 10216124675 8.500 8.500 14.500 4.500
SB538 10216124948 10.125 10.125 16.125 6.250
SB538 10216125830 8.875 8.875 14.875 5.000
SB538 10216125841 11.375 11.375 17.375 7.500
SB538 10216126148 10.625 10.625 16.625 6.750
SB538 10216126238 11.375 11.375 17.375 7.500
SB538 10216126317 9.625 9.625 15.625 6.750
SB538 10216126615 9.875 9.875 15.875 5.750
SB538 10216126697 9.125 9.125 15.125 5.250
SB538 10216126701 8.625 8.625 14.625 4.500
SB538 10216126702 10.375 10.375 16.375 6.250
SB538 10216126797 11.875 11.875 17.875 8.000
SB538 10216126879 11.250 11.250 17.250 7.250
SB538 10216126998 9.625 9.625 15.625 5.750
SB538 10216127172 8.375 8.375 14.375 4.500
SB538 10216127173 9.625 9.625 15.625 5.750
SB538 10216127181 9.625 9.625 15.625 5.750
SB538 10216127319 10.125 10.125 16.125 6.250
SB538 10216127604 11.250 11.250 17.250 7.000
SB538 10216127628 11.500 11.500 17.500 7.500
SB538 10216127755 9.125 9.125 15.125 5.000
SB538 10216127757 9.625 9.625 15.625 5.750
SB538 10216127758 11.500 11.500 17.500 7.250
SB538 10216127910 10.125 10.125 16.125 6.250
SB538 10216128587 8.625 8.625 14.625 4.500
SB538 10216128588 9.625 9.625 15.625 5.750
SB538 10216128591 7.625 7.625 13.625 3.750
SB538 10216129435 11.250 11.250 17.250 7.250
SB538 10216129442 8.375 8.375 14.375 4.500
SB538 10216129443 9.625 9.625 15.625 5.750
SB538 10216129717 9.625 9.625 15.625 5.750
SB538 10216129811 10.625 10.625 16.625 6.750
SB538 10216129830 9.750 9.750 15.750 5.750
--------------------------------------------------------------
46 9.979 9.979 15.979 6.167
<PAGE>
Alliance Funding Company Page 5 9/27/96
A division of Superior Bank FSB
Sale Schedule A
1996-3 Class 2 - 1st Subsequent Transfer of
Adjustable Rate Mortgages - Settlement 9/27/96
<TABLE>
<CAPTION>
Zip
Sale ID Account Name Address City State Code
- -----------------------------------------------------------------------------------------------------------------------------------
<C> <C> <S> <C> <C> <C> <C>
SB539 10216114990 JENSEN LAMAR G 88 NORTH 600 EAST HEBER CITY UT 84032
SB539 10216125653 CURRAN THOMAS J 42 80TH STREET SEA ISLE CITY NJ 08243
SB539 10216126396 SADEJ STANLEY 8301 W. SUMMERDALE CHICAGO IL 60656
SB539 10216127086 BURT DANIEL L 2834 GEORGIA STREET MEDFORD OR 97501
SB539 10216128704 NICHOL MERLIN K 5520 SOUTH 5475 WEST KEARNS UT 84118
SB539 10216129821 KAWCZYNSKI JACEK A 2044 W WILLOW ST INVERNESS IL 60067
SB539 10216129940 PENNY CHARMAINE HARRIET 8655 SOUTH SUSAN WAY WEST JORDAN UT 84088
SB539 10216130030 RODRIGUEZ ROD 1529 ABORN ROAD SAN JOSE CA 95121
--------------------------------------------
8 Sale Total
<CAPTION>
Principal Cut-off Date First
Balance at Principal Payment Maturity
Sale ID Account Origination Balance Date Date
- ----------------------------------------------------------------------------------------------------------------
<C> <C> <C> <C> <C> <C>
SB539 10216114990 97,750.00 97,604.32 07/01/96 06/01/26
SB539 10216125653 169,400.00 169,400.00 10/01/96 09/01/26
SB539 10216126396 154,000.00 154,000.00 10/01/96 09/01/26
SB539 10216127086 80,750.00 80,750.00 10/01/96 09/01/26
SB539 10216128704 93,600.00 93,600.00 10/01/96 09/01/26
SB539 10216129821 189,000.00 189,000.00 10/01/96 09/01/26
SB539 10216129940 69,200.00 69,200.00 11/01/96 10/01/26
SB539 10216130030 157,500.00 157,500.00 10/01/96 09/01/26
---------------- -----------------------------------
8 1,011,200.00 1,011,054.32
</TABLE>
Initial Minimum Maximum
Mortgage Mortgage Mortgage Gross
Sale ID Account Rate Rate Rate Margin
- -----------------------------------------------------------------------------
SB539 10216114990 10.125 10.125 16.125 6.500
SB539 10216125653 7.375 7.375 13.375 3.750
SB539 10216126396 11.750 11.750 17.750 6.750
SB539 10216127086 11.375 11.375 17.375 7.500
SB539 10216128704 9.625 9.625 15.625 6.000
SB539 10216129821 10.000 10.000 16.000 6.000
SB539 10216129940 10.875 10.875 16.875 7.250
SB539 10216130030 9.375 9.375 15.375 5.750
--------------------------------------------------------------
8 9.876 9.876 15.876 5.952
<PAGE>
Alliance Funding Company Page 6 9/27/96
A division of Superior Bank FSB
Sale Schedule A
1996-3 Class 2 - 1st Subsequent Transfer of
Adjustable Rate Mortgages - Settlement 9/27/96
<TABLE>
<CAPTION>
Zip
Sale ID Account Name Address City State Code
- -----------------------------------------------------------------------------------------------------------------------------------
<C> <C> <S> <C> <C> <C> <C>
SB540 10216117920 GARRETT KAREN S 738 SHERYL WATERFORD MI 48328
SB540 10216120465 JULIANO THERESA 1713 CENTRAL AVENUE WESTFIELD NJ 07090
SB540 10216120789 STOFFEL RANDELL J 294 WILLSHER DRIVE FOND DU LAC WI 54935
SB540 10216123112 MCDEVITT JOHN A 219 CEYLON AVENUE SEASIDE HEIGHTS NJ 08751
SB540 10216123485 DAWES WILLIAM 12 CEIL PLACE BETHPAGE NY 11714
SB540 10216124146 LEVINE ARTHUR A 121 AUDUBON AVENUE JERSEY CITY NJ 07305
SB540 10216125685 SIEGFRIED DANIEL C 9320 RANCHO VISTA DRIVE PRESCOTT VALLEY AZ 86314
SB540 10216126347 MOHAMAD KHALED 33 CORBIN AVENUE JERSEY CITY NJ 07305
SB540 10216127414 CARTER LLOYD WILLIS 17E UPPER ROUND VALLEY PAYSON AZ 85541
SB540 10216127534 COSTANTINI DONNA 150 SHORE FRONT REAR MILFORD CT 06460
SB540 10216127600 DEMBECK DAVID M 15794 GREENVIEW DRIVE FRASER MI 48026
SB540 10216127814 JOHNSON KYLE ROBERT 1929 SOUTH NEVADA AVENUE PROVO UT 84606
SB540 10216129035 MARTINEZ JOSE P 1104 BROWER BOULEVARD OCEAN NJ 07712
SB540 10216129546 EBERHARDT MICHAEL D 8130 MEADOWDALE COURT NIWOT CO 80503
SB540 10216130643 BRAGG MICHAEL ANTHONY 24642 ANNAPOLIS DEARBORN HEIGHTS MI 48125
--------------------------------------------
15 Sale Total
95 Total with Superior Bank
165 Grand Total
<CAPTION>
Principal Cut-off Date First
Balance at Principal Payment Maturity
Sale ID Account Origination Balance Date Date
- ----------------------------------------------------------------------------------------------------------------
<C> <C> <C> <C> <C> <C>
SB540 10216117920 56,500.00 56,500.00 11/01/96 10/01/26
SB540 10216120465 149,000.00 149,000.00 10/01/96 09/01/26
SB540 10216120789 108,800.00 108,800.00 10/01/96 09/01/26
SB540 10216123112 70,000.00 70,000.00 10/01/96 09/01/26
SB540 10216123485 136,000.00 135,910.23 09/01/96 08/01/26
SB540 10216124146 108,500.00 108,500.00 11/01/96 10/01/26
SB540 10216125685 78,400.00 78,400.00 10/01/96 09/01/26
SB540 10216126347 71,250.00 71,250.00 10/01/96 09/01/26
SB540 10216127414 72,000.00 72,000.00 10/01/96 09/01/26
SB540 10216127534 157,500.00 157,500.00 10/01/96 09/01/26
SB540 10216127600 180,000.00 180,000.00 10/01/96 09/01/26
SB540 10216127814 91,800.00 91,800.00 11/01/96 10/01/26
SB540 10216129035 90,000.00 90,000.00 10/01/96 09/01/26
SB540 10216129546 211,500.00 211,500.00 11/01/96 10/01/26
SB540 10216130643 42,500.00 42,500.00 11/01/96 10/01/26
---------------- -----------------------------------
15 1,623,750.00 1,623,660.23
95 9,697,200.00 9,695,681.33
165 18,665,435.00 18,663,345.48
</TABLE>
Initial Minimum Maximum
Mortgage Mortgage Mortgage Gross
Sale ID Account Rate Rate Rate Margin
- -----------------------------------------------------------------------------
SB540 10216117920 11.500 11.500 17.500 6.750
SB540 10216120465 9.250 9.250 15.250 5.500
SB540 10216120789 11.000 11.000 17.000 7.000
SB540 10216123112 8.875 8.875 14.875 6.000
SB540 10216123485 11.375 11.375 17.375 7.250
SB540 10216124146 8.625 8.625 14.625 5.500
SB540 10216125685 11.875 11.875 17.875 8.250
SB540 10216126347 9.625 9.625 15.625 5.750
SB540 10216127414 8.875 8.875 14.875 5.250
SB540 10216127534 10.625 10.625 16.625 6.750
SB540 10216127600 7.625 7.625 13.625 3.750
SB540 10216127814 10.125 10.125 16.125 6.500
SB540 10216129035 9.625 9.625 15.625 5.750
SB540 10216129546 8.125 8.125 14.125 4.500
SB540 10216130643 10.125 10.125 16.125 6.250
--------------------------------------------------------------
15 9.592 9.592 15.592 5.832
95 9.943 9.943 15.943 6.133
165 9.913 9.913 15.913 6.140
<PAGE>
Alliance Funding Company Page 1 9/27/96
A division of Superior Bank FSB
Sale Schedule B
1996-3 Class 2 - 1st Subsequent Transfer of
Adjustable Rate Mortgages - Settlement 9/27/96
<TABLE>
<CAPTION>
Principal Type of Scheduled Cut-off Date Original
Balance at Mortgaged Payment Principal LTV
Sale ID Account Name Origination Property Int & Prin Balance Ratio
- ---------------------------------------------------------------------------------------------------------------------------
<C> <C> <S> <C> <C> <C> <C> <C>
ML140 10216120714 FRICANO MICHAEL P 122,500.00 SF 1,178.18 122,500.00 79.0
ML140 10216122238 ZIEGLER MELVIN L 143,100.00 SF 1,216.33 142,894.41 90.0
ML140 10216125516 AMOS-RICHBURG MICHELLE 150,300.00 SF 1,305.13 150,300.00 90.0
ML140 10216125592 GRUBAUGH GEORGE A 99,750.00 SF 847.86 99,750.00 75.0
ML140 10216125724 HALL CLYDE JR 60,700.00 SF 515.94 60,700.00 74.9
ML140 10216125810 ODONNEL PATRICK C 57,750.00 SF 544.52 57,750.00 75.0
ML140 10216125819 AVILES JUAN 246,500.00 MF 2,324.22 246,500.00 85.0
ML140 10216126063 WALKER PATRICIA 40,500.00 SF 389.52 40,500.00 84.9
ML140 10216126213 HARRIS DONALD 53,200.00 SF 461.96 53,200.00 74.9
ML140 10216126436 UDY VAL R 60,000.00 SF 466.67 60,000.00 80.0
ML140 10216126599 ALLOWAY DONALD A 148,000.00 SF 1,451.54 148,000.00 80.0
ML140 10216127291 PAOLELLA GIOVANNI 131,200.00 SF 1,091.26 131,200.00 74.9
ML140 10216127296 BISHOP LARRY A 83,300.00 SF 633.14 83,300.00 85.0
ML140 10216127317 FRANCKOWIAK WAYNE A 261,000.00 SF 2,100.07 261,000.00 90.0
ML140 10216127584 MONTANA MARK J 420,000.00 SF 3,569.96 420,000.00 80.0
ML140 10216128058 NELSON LEONARD E 75,000.00 SF 721.34 75,000.00 60.0
ML140 10216128231 HOWARD DOROTHY 70,000.00 SF 582.22 70,000.00 45.7
ML140 10216128709 CULP RICHARD WILLIAM 220,000.00 SF 1,910.37 220,000.00 78.5
ML140 10216128915 TAYLOR JR PAUL D 135,000.00 SF 1,050.02 135,000.00 90.0
ML140 10216129186 CAULEY M CAD 138,250.00 MF 1,124.85 138,250.00 70.0
ML140 10216129367 FLORES SHERRY L 60,000.00 SF 477.39 60,000.00 80.0
ML140 10216129412 CRUM JENNIFER 126,750.00 SF 1,054.24 126,750.00 75.0
ML140 10216129556 COLLETTI JAMES 228,000.00 SF 2,257.86 228,000.00 80.0
ML140 10216129626 REDFORD DIANE UNCHONG 152,000.00 SF 1,209.38 152,000.00 79.1
ML140 10216130016 HESS DAVID LYNN 75,650.00 SF 656.91 75,650.00 85.0
ML140 10216130213 RICHARDS ALFRED D 67,900.00 SF 540.24 67,900.00 70.0
---------------------------------------------------------- --------------------------------------------
26 Sale Total 3,426,350.00 29,681.12 3,426,144.41 80.0
</TABLE>
Next Current Property
Adjustment Mortgage Value at Owner
Sale ID Account Date Rate Origination Occupied
- -----------------------------------------------------------------------------
ML140 10216120714 03/01/97 11.125 155,000.00 Y
ML140 10216122238 01/01/97 9.625 159,000.00 Y
ML140 10216125516 03/01/97 9.875 167,000.00 Y
ML140 10216125592 04/01/97 9.625 133,000.00 Y
ML140 10216125724 03/01/97 9.625 81,000.00 Y
ML140 10216125810 03/01/97 10.875 77,000.00 Y
ML140 10216125819 03/01/97 10.875 290,000.00 Y
ML140 10216126063 03/01/97 11.125 47,700.00 Y
ML140 10216126213 03/01/97 9.875 71,000.00 Y
ML140 10216126436 04/01/97 8.625 75,000.00 Y
ML140 10216126599 03/01/97 11.375 185,000.00 Y
ML140 10216127291 03/01/97 9.375 175,000.00 Y
ML140 10216127296 03/01/97 8.375 98,000.00 Y
ML140 10216127317 03/01/97 9.000 290,000.00 Y
ML140 10216127584 03/01/97 9.625 525,000.00 Y
ML140 10216128058 03/01/97 11.125 125,000.00 Y
ML140 10216128231 03/01/97 9.375 153,000.00 Y
ML140 10216128709 03/01/97 9.875 280,000.00 Y
ML140 10216128915 03/01/97 8.625 150,000.00 Y
ML140 10216129186 03/01/97 9.125 197,500.00 N
ML140 10216129367 03/01/97 8.875 75,000.00 Y
ML140 10216129412 03/01/97 9.375 169,000.00 Y
ML140 10216129556 03/01/97 11.500 285,000.00 Y
ML140 10216129626 04/01/97 8.875 192,000.00 Y
ML140 10216130016 03/01/97 9.875 89,000.00 Y
ML140 10216130213 04/01/97 8.875 97,000.00 Y
------------- --------------------------------
26 9.837 4,341,200.00
<PAGE>
Alliance Funding Company Page 2 9/27/96
A division of Superior Bank FSB
Sale Schedule B
1996-3 Class 2 - 1st Subsequent Transfer of
Adjustable Rate Mortgages - Settlement 9/27/96
<TABLE>
<CAPTION>
Principal Type of Scheduled Cut-off Date Original
Balance at Mortgaged Payment Principal LTV
Sale ID Account Name Origination Property Int & Prin Balance Ratio
- ---------------------------------------------------------------------------------------------------------------------------
<C> <C> <S> <C> <C> <C> <C> <C>
ML141 10216113824 BAER JAY P 178,000.00 SF 1,512.98 177,828.76 74.7
ML141 10216115285 SWAYBILL MONICA 107,200.00 SF 911.19 107,148.64 80.0
ML141 10216120159 TORRES JOSE MIQUEL 130,000.00 SF 1,287.38 130,000.00 61.9
ML141 10216121337 BROWN RICHARD 160,000.00 SF 1,478.56 160,000.00 74.4
ML141 10216121359 BERRY ANNIE L 85,500.00 SF 822.32 85,500.00 75.0
ML141 10216122996 BURKE WILLIAM R 114,000.00 SF 907.04 114,000.00 89.8
ML141 10216123506 CORDERA SANDRA L 102,000.00 SF 961.75 102,000.00 85.0
ML141 10216123679 JARAMILLO JUAN 147,000.00 SF 1,386.05 147,000.00 84.9
ML141 10216125425 PASLEY KELITA 135,000.00 SF 1,147.49 134,935.32 90.0
ML141 10216125597 CARPENTER ROBERT E 90,000.00 SF 814.87 90,000.00 90.0
ML141 10216125697 FIUME ALFRED M 170,910.00 SF 1,452.72 170,910.00 89.7
ML141 10216125984 HARRIS JUDITH M 153,500.00 SF 1,221.32 153,500.00 76.7
ML141 10216126104 PLEET LOUIS ABRAHAM 138,750.00 SF 1,374.03 138,750.00 75.0
ML141 10216126119 GOEMBEL PATRICK 79,000.00 SF 657.08 79,000.00 79.7
ML141 10216126192 BARLOW RYAN TY 44,625.00 SF 404.04 44,625.00 85.0
ML141 10216126402 HOOVER DANIEL L 56,000.00 SF 455.63 56,000.00 88.8
ML141 10216126504 DECARLO FRANK 325,000.00 MF 3,374.30 325,000.00 79.6
ML141 10216126508 MCCALL CHARLES 84,500.00 SF 893.64 84,500.00 65.0
ML141 10216126548 WINTERS WAYNE E 56,200.00 SF 493.20 56,200.00 74.9
ML141 10216126635 UPSHAW GERALD DWAYNE 231,300.00 SF 1,840.33 231,300.00 90.0
ML141 10216126700 AL-GASID MOHAYMAN 82,800.00 SF 703.79 82,760.34 90.0
ML141 10216126877 HERMIZ MAJID 178,200.00 SF 1,514.68 178,200.00 90.0
ML141 10216126974 DEUGENIO ENRICO 182,600.00 SF 1,721.72 182,600.00 84.9
ML141 10216127375 PEARSON BLAINE 135,000.00 SF 1,098.40 135,000.00 74.5
ML141 10216127380 ROBERTO WAYNE 80,000.00 SF 846.05 80,000.00 80.0
ML141 10216127446 SEXTON MARK S 199,500.00 CD 1,551.69 199,500.00 70.0
ML141 10216127614 SMITH MICHAEL A 83,300.00 SF 662.77 83,300.00 89.0
ML141 10216127780 BROWN RANDY D 76,000.00 SF 774.44 76,000.00 76.0
ML141 10216127873 WYCOFF GENE K 164,000.00 SF 1,515.52 164,000.00 80.0
ML141 10216127905 PRYOR DAVID B 365,000.00 SF 2,583.45 365,000.00 84.8
ML141 10216127994 SHADDIX BILL J 140,000.00 SF 1,113.90 140,000.00 56.0
ML141 10216128004 HARNISHER DIANE 52,500.00 SF 475.34 52,500.00 61.7
ML141 10216128245 LIDDELL CHRISTOPHER W 191,200.00 SF 1,386.33 191,200.00 84.9
ML141 10216128349 HILL KENNETH A 80,000.00 SF 679.99 79,961.68 57.5
ML141 10216128398 WONG CAROL M 25,500.00 SF 235.64 25,500.00 79.6
ML141 10216128665 AKERS CHRISTOPHER F 147,600.00 SF 1,174.37 147,600.00 90.0
ML141 10216128943 LITTLE PERRY 76,800.00 SF 775.23 76,800.00 80.0
ML141 10216129074 BROKENBEK SARAH S 168,300.00 SF 1,384.56 168,300.00 85.0
ML141 10216129297 REED BRENDA K 73,200.00 SF 710.96 73,200.00 80.0
ML141 10216129436 LEWIS MELONICE 103,100.00 MF 876.34 103,100.00 74.9
ML141 10216129441 FLANAGAN MICHAEL J 103,000.00 SF 913.43 103,000.00 84.4
ML141 10216129453 REINHART WILLIAM 87,900.00 SF 812.28 87,900.00 84.9
ML141 10216129655 SMITH ROBERT M 61,600.00 SF 610.02 61,600.00 80.0
ML141 10216130205 NASSEREDDINE MOHAMAD 96,300.00 SF 818.54 96,300.00 90.0
---------------------------------------------------------- --------------------------------------------
44 Sale Total 5,541,885.00 48,335.36 5,541,519.74 80.6
70 Total with Merrill Lynch 8,968,235.00 78,016.48 8,967,664.15 80.3
</TABLE>
Next Current Property
Adjustment Mortgage Value at Owner
Sale ID Account Date Rate Origination Occupied
- -----------------------------------------------------------------------------
ML141 10216113824 12/01/96 9.625 238,000.00 Y
ML141 10216115285 02/01/97 9.625 134,000.00 Y
ML141 10216120159 03/01/97 11.500 210,000.00 Y
ML141 10216121337 03/01/97 10.625 215,000.00 Y
ML141 10216121359 03/01/97 11.125 114,000.00 Y
ML141 10216122996 04/01/97 8.875 126,900.00 Y
ML141 10216123506 03/01/97 10.875 120,000.00 Y
ML141 10216123679 03/01/97 10.875 173,000.00 Y
ML141 10216125425 03/01/97 9.625 150,000.00 Y
ML141 10216125597 03/01/97 10.375 100,000.00 Y
ML141 10216125697 03/01/97 9.625 190,500.00 Y
ML141 10216125984 03/01/97 8.875 200,000.00 Y
ML141 10216126104 03/01/97 11.500 185,000.00 Y
ML141 10216126119 03/01/97 9.375 99,000.00 Y
ML141 10216126192 03/01/97 10.375 52,500.00 Y
ML141 10216126402 03/01/97 9.125 63,000.00 Y
ML141 10216126504 03/01/97 12.125 408,000.00 Y
ML141 10216126508 03/01/97 12.375 130,000.00 Y
ML141 10216126548 03/01/97 10.000 75,000.00 Y
ML141 10216126635 03/01/97 8.875 257,000.00 Y
ML141 10216126700 03/01/97 9.625 92,000.00 Y
ML141 10216126877 02/01/97 9.625 198,000.00 Y
ML141 10216126974 03/01/97 10.875 214,900.00 Y
ML141 10216127375 04/01/97 9.125 181,000.00 Y
ML141 10216127380 03/01/97 12.375 100,000.00 Y
ML141 10216127446 03/01/97 8.625 285,000.00 Y
ML141 10216127614 03/01/97 8.875 93,500.00 Y
ML141 10216127780 03/01/97 11.875 100,000.00 Y
ML141 10216127873 04/01/97 10.625 205,000.00 Y
ML141 10216127905 04/01/97 7.625 430,000.00 Y
ML141 10216127994 03/01/97 8.875 250,000.00 Y
ML141 10216128004 03/01/97 10.375 85,000.00 Y
ML141 10216128245 03/01/97 7.875 225,000.00 Y
ML141 10216128349 03/01/97 9.625 139,000.00 Y
ML141 10216128398 02/19/97 10.625 32,000.00 Y
ML141 10216128665 03/01/97 8.875 164,000.00 Y
ML141 10216128943 03/01/97 11.750 96,000.00 Y
ML141 10216129074 04/01/97 9.250 198,000.00 Y
ML141 10216129297 04/01/97 11.250 91,500.00 Y
ML141 10216129436 03/01/97 9.625 137,500.00 Y
ML141 10216129441 04/01/97 10.125 122,000.00 Y
ML141 10216129453 03/01/97 10.625 103,500.00 Y
ML141 10216129655 04/01/97 11.500 77,000.00 Y
ML141 10216130205 03/01/97 9.625 107,000.00 Y
------------- --------------------------------
44 9.907 6,967,800.00
70 9.880 11,309,000.00
<PAGE>
Alliance Funding Company Page 3 9/27/96
A division of Superior Bank FSB
Sale Schedule B
1996-3 Class 2 - 1st Subsequent Transfer of
Adjustable Rate Mortgages - Settlement 9/27/96
<TABLE>
<CAPTION>
Principal Type of Scheduled Cut-off Date Original
Balance at Mortgaged Payment Principal LTV
Sale ID Account Name Origination Property Int & Prin Balance Ratio
- ---------------------------------------------------------------------------------------------------------------------------
<C> <C> <S> <C> <C> <C> <C> <C>
SB537 10216114554 TAYLOR THOMAS J 257,600.00 SF 2,550.99 257,434.57 80.0
SB537 10216115716 STIDHAM GREGORY SCOTT 37,300.00 SF 293.44 37,256.92 89.8
SB537 10216119657 VOLCHIK ZEEV 207,000.00 SF 1,759.48 207,000.00 73.4
SB537 10216120393 DEWEAVER LINDA 49,000.00 SF 480.57 48,983.48 70.0
SB537 10216122693 MINNICK JESSIE L 80,700.00 SF 613.38 80,649.84 84.9
SB537 10216122836 BENNETT SHARON 91,700.00 MF 664.89 91,636.89 70.0
SB537 10216123428 TORRES SANDRA 148,000.00 MF 1,257.98 148,000.00 84.5
SB537 10216123779 WATSON CALVIN 152,000.00 SF 1,347.97 151,934.53 80.0
SB537 10216123881 JUSTICE PAUL 37,000.00 SF 321.29 37,000.00 61.6
SB537 10216124442 PRITCHETT JENNIFER 100,000.00 SF 896.10 100,000.00 68.9
SB537 10216124662 RAGLAND RAFUR C 46,200.00 MF 431.27 46,182.61 70.0
SB537 10216125746 HAZELTON DANIEL L 32,000.00 SF 313.84 31,989.49 80.0
SB537 10216125803 GIBSON VANESSA 115,500.00 SF 939.75 115,500.00 82.5
SB537 10216126394 BUSS TINA M 35,000.00 SF 278.48 35,000.00 70.0
SB537 10216126397 WARD SCOTT J 75,000.00 CD 658.18 75,000.00 57.6
SB537 10216126524 SOMMERS MARK ALLAN 104,000.00 SF 903.08 104,000.00 74.8
SB537 10216126675 SMITH MARGARET 38,400.00 SF 369.32 38,400.00 60.0
SB537 10216126988 JAMES CATHERINE 59,200.00 SF 503.19 59,200.00 74.9
SB537 10216127012 WILLOH JOHN ROBERT 30,000.00 SF 217.52 29,979.36 66.6
SB537 10216127359 MOLDOFSKY LANNY 241,500.00 SF 2,368.55 241,420.67 70.0
SB537 10216127596 MURZANSKI CHRIS A 162,000.00 SF 1,406.73 162,000.00 90.0
SB537 10216128236 HEATON TIMOTHY J 105,000.00 SF 892.49 105,000.00 63.6
SB537 10216128927 MORRIS CORINE 24,700.00 SF 237.56 24,700.00 54.8
SB537 10216128935 MCNELLEY PATRICK L 328,000.00 SF 3,061.82 328,000.00 79.2
SB537 10216129444 SOBH MOHAMAD 36,900.00 SF 313.65 36,900.00 90.0
SB537 10216129982 SOBH JALAL M 46,700.00 SF 354.95 46,700.00 80.5
---------------------------------------------------------- --------------------------------------------
26 Sale Total 2,640,400.00 23,436.47 2,639,868.36 76.1
</TABLE>
Next Current Property
Adjustment Mortgage Value at Owner
Sale ID Account Date Rate Origination Occupied
- -----------------------------------------------------------------------------
SB537 10216114554 01/01/97 11.500 322,000.00 Y
SB537 10216115716 01/01/97 8.750 41,500.00 Y
SB537 10216119657 03/01/97 9.625 282,000.00 Y
SB537 10216120393 02/01/97 11.375 70,000.00 Y
SB537 10216122693 02/01/97 8.375 95,000.00 Y
SB537 10216122836 02/01/97 7.875 131,000.00 N
SB537 10216123428 03/01/97 9.625 175,000.00 Y
SB537 10216123779 03/01/97 10.125 190,000.00 Y
SB537 10216123881 03/01/97 9.875 60,000.00 Y
SB537 10216124442 03/01/97 10.250 145,000.00 Y
SB537 10216124662 02/01/97 10.750 66,000.00 Y
SB537 10216125746 03/01/97 11.375 40,000.00 Y
SB537 10216125803 03/01/97 9.125 140,000.00 Y
SB537 10216126394 03/01/97 8.875 50,000.00 N
SB537 10216126397 03/01/97 10.000 130,000.00 Y
SB537 10216126524 03/01/97 9.875 139,000.00 Y
SB537 10216126675 03/01/97 11.125 64,000.00 Y
SB537 10216126988 03/01/97 9.625 79,000.00 Y
SB537 10216127012 03/01/97 7.875 45,000.00 Y
SB537 10216127359 03/01/97 11.375 345,000.00 Y
SB537 10216127596 03/01/97 9.875 180,000.00 Y
SB537 10216128236 03/01/97 9.625 165,000.00 Y
SB537 10216128927 03/01/97 11.125 45,000.00 N
SB537 10216128935 03/01/97 10.750 414,000.00 Y
SB537 10216129444 03/01/97 9.625 41,000.00 Y
SB537 10216129982 03/01/97 8.375 58,000.00 Y
------------- --------------------------------
26 10.124 3,512,500.00
<PAGE>
Alliance Funding Company Page 4 9/27/96
A division of Superior Bank FSB
Sale Schedule B
1996-3 Class 2 - 1st Subsequent Transfer of
Adjustable Rate Mortgages - Settlement 9/27/96
<TABLE>
<CAPTION>
Principal Type of Scheduled Cut-off Date Original
Balance at Mortgaged Payment Principal LTV
Sale ID Account Name Origination Property Int & Prin Balance Ratio
- ---------------------------------------------------------------------------------------------------------------------------
<C> <C> <S> <C> <C> <C> <C> <C>
SB538 10216116171 SANCHEZ JOSE ANTHONY JR 153,000.00 MF 1,300.48 153,000.00 89.4
SB538 10216121461 GANZ DAVID A 84,000.00 MF 823.84 84,000.00 80.0
SB538 10216121720 BENHAM JONATHAN W 120,500.00 SF 1,024.24 120,266.51 88.6
SB538 10216122354 ESPOSITO SALVATORE 112,200.00 SF 974.29 112,149.02 85.0
SB538 10216122424 BRUCE RALPH 120,000.00 SF 976.36 120,000.00 76.4
SB538 10216122842 SHKRELI MARIE 243,000.00 SF 2,087.75 242,886.63 90.0
SB538 10216122993 BOUCHER JAMES M 72,000.00 SF 572.86 72,000.00 90.0
SB538 10216122995 AL-ABDULRASUL MOHAMMAD 90,000.00 MF 764.99 89,913.43 89.1
SB538 10216123555 AL-AMIDI AHMED 41,400.00 SF 359.50 41,400.00 90.0
SB538 10216123736 MARTIN LARRY W 110,450.00 SF 839.50 110,381.35 78.8
SB538 10216124089 LEITHEISER CHARLES F 81,900.00 SF 696.14 81,900.00 85.3
SB538 10216124276 MAXWELL CHARLES E 58,500.00 SF 507.98 58,473.43 75.0
SB538 10216124535 PROCHLIAK PETRO 63,000.00 SF 582.18 63,000.00 84.0
SB538 10216124675 MOORE ROGER D 56,000.00 SF 430.59 55,966.08 77.7
SB538 10216124948 PETTINELLA ANN M 97,100.00 SF 861.10 97,100.00 70.8
SB538 10216125830 FADLALLAH HOUSSAM 72,900.00 SF 580.03 72,859.13 90.0
SB538 10216125841 CREW WILLIAM W 56,800.00 SF 557.07 56,800.00 80.0
SB538 10216126148 SENIOR ORVILLE 194,400.00 MF 1,796.45 194,400.00 90.0
SB538 10216126238 LIGHTNER MARY CATHERINE 72,100.00 SF 707.13 72,076.32 70.0
SB538 10216126317 MILLS PRISCILLA 216,000.00 MF 1,835.98 216,000.00 90.0
SB538 10216126615 GONZALEZ CRUZ 172,350.00 SF 1,496.60 172,350.00 90.0
SB538 10216126697 DUNIGAN ERIC V 33,000.00 SF 268.50 33,000.00 46.9
SB538 10216126701 ASKAR ANGELO 52,000.00 SF 404.45 52,000.00 78.7
SB538 10216126702 COSTA MIKE 98,400.00 SF 890.92 98,400.00 80.0
SB538 10216126797 SIMPSON IAN G 157,250.00 MF 1,602.38 157,250.00 85.0
SB538 10216126879 RASH JOEL 14,400.00 MF 139.86 14,400.00 60.0
SB538 10216126998 ALMAYA MOHAMED A 55,300.00 SF 470.04 55,300.00 89.9
SB538 10216127172 AL-SHALUSHI AZARA 53,100.00 SF 403.60 53,100.00 84.9
SB538 10216127173 AL-JEBORI QASIM 41,400.00 SF 351.90 41,400.00 88.0
SB538 10216127181 HANES JOSEPH C 44,100.00 SF 374.85 44,100.00 88.2
SB538 10216127319 ELMASRI SIREEN 110,500.00 SF 979.94 110,500.00 85.0
SB538 10216127604 NAWAZ RAB 50,000.00 SF 485.63 50,000.00 79.3
SB538 10216127628 COLLINS PATRICIA L 68,000.00 SF 673.40 68,000.00 80.0
SB538 10216127755 HAYDOUS ALI H 90,400.00 SF 735.52 90,400.00 80.0
SB538 10216127757 HARTNER GARY F 180,000.00 SF 1,529.98 180,000.00 90.0
SB538 10216127758 POWELL WANDALYN V 132,000.00 SF 1,307.18 132,000.00 79.0
SB538 10216127910 MELCHER BARRY L 46,700.00 SF 414.15 46,700.00 84.9
SB538 10216128587 AL-YASIRY FADHIL 30,800.00 SF 239.56 30,800.00 78.9
SB538 10216128588 ALBUJERAIW NAJEB 43,200.00 SF 367.20 43,200.00 90.0
SB538 10216128591 KING DARLENE 66,000.00 SF 467.14 66,000.00 61.1
SB538 10216129435 WOLSKI CONRAD A 208,000.00 SF 2,020.22 208,000.00 80.0
SB538 10216129442 REDA HUSSEIN 67,100.00 MF 510.01 67,100.00 83.8
SB538 10216129443 AL-ATABI DHAFER 78,300.00 MF 665.54 78,300.00 90.0
SB538 10216129717 AL-ADHIMY QAIS 44,100.00 SF 374.85 44,100.00 90.0
SB538 10216129811 DANIA RAFIU I 212,700.00 SF 1,965.56 212,700.00 84.9
SB538 10216129830 BARRETT JAMES K 157,500.00 SF 1,353.17 157,426.52 75.0
---------------------------------------------------------- --------------------------------------------
46 Sale Total 4,421,850.00 38,770.61 4,421,098.42 83.7
</TABLE>
Next Current Property
Adjustment Mortgage Value at Owner
Sale ID Account Date Rate Origination Occupied
- -----------------------------------------------------------------------------
SB538 10216116171 02/01/97 9.625 171,000.00 Y
SB538 10216121461 03/01/97 11.375 105,000.00 Y
SB538 10216121720 02/01/97 9.625 136,000.00 Y
SB538 10216122354 03/01/97 9.875 132,000.00 Y
SB538 10216122424 03/01/97 9.125 157,000.00 Y
SB538 10216122842 02/01/97 9.750 270,000.00 Y
SB538 10216122993 03/01/97 8.875 80,000.00 Y
SB538 10216122995 01/01/97 9.625 101,000.00 Y
SB538 10216123555 03/01/97 9.875 46,000.00 Y
SB538 10216123736 02/01/97 8.375 140,000.00 Y
SB538 10216124089 03/01/97 9.625 96,000.00 Y
SB538 10216124276 02/01/97 9.875 78,000.00 Y
SB538 10216124535 03/01/97 10.625 75,000.00 Y
SB538 10216124675 02/01/97 8.500 72,000.00 Y
SB538 10216124948 03/01/97 10.125 137,000.00 Y
SB538 10216125830 02/01/97 8.875 81,000.00 Y
SB538 10216125841 03/01/97 11.375 71,000.00 Y
SB538 10216126148 03/01/97 10.625 216,000.00 Y
SB538 10216126238 02/01/97 11.375 103,000.00 Y
SB538 10216126317 03/01/97 9.625 240,000.00 Y
SB538 10216126615 03/01/97 9.875 191,500.00 Y
SB538 10216126697 03/01/97 9.125 70,300.00 N
SB538 10216126701 03/01/97 8.625 66,000.00 Y
SB538 10216126702 03/01/97 10.375 123,000.00 Y
SB538 10216126797 03/01/97 11.875 185,000.00 Y
SB538 10216126879 03/01/97 11.250 24,000.00 Y
SB538 10216126998 03/01/97 9.625 61,500.00 Y
SB538 10216127172 03/01/97 8.375 62,500.00 Y
SB538 10216127173 03/01/97 9.625 47,000.00 Y
SB538 10216127181 03/01/97 9.625 50,000.00 Y
SB538 10216127319 03/01/97 10.125 130,000.00 Y
SB538 10216127604 03/01/97 11.250 63,000.00 Y
SB538 10216127628 03/01/97 11.500 85,000.00 Y
SB538 10216127755 03/01/97 9.125 113,000.00 Y
SB538 10216127757 03/01/97 9.625 200,000.00 Y
SB538 10216127758 03/01/97 11.500 167,000.00 Y
SB538 10216127910 03/01/97 10.125 55,000.00 Y
SB538 10216128587 03/01/97 8.625 39,000.00 Y
SB538 10216128588 03/01/97 9.625 48,000.00 Y
SB538 10216128591 03/01/97 7.625 108,000.00 Y
SB538 10216129435 03/01/97 11.250 260,000.00 Y
SB538 10216129442 03/01/97 8.375 80,000.00 Y
SB538 10216129443 03/01/97 9.625 87,000.00 Y
SB538 10216129717 03/01/97 9.625 49,000.00 Y
SB538 10216129811 03/01/97 10.625 250,300.00 Y
SB538 10216129830 03/01/97 9.750 210,000.00 Y
------------- --------------------------------
46 9.979 5,332,100.00
<PAGE>
Alliance Funding Company Page 5 9/27/96
A division of Superior Bank FSB
Sale Schedule B
1996-3 Class 2 - 1st Subsequent Transfer of
Adjustable Rate Mortgages - Settlement 9/27/96
<TABLE>
<CAPTION>
Principal Type of Scheduled Cut-off Date Original
Balance at Mortgaged Payment Principal LTV
Sale ID Account Name Origination Property Int & Prin Balance Ratio
- ---------------------------------------------------------------------------------------------------------------------------
<C> <C> <S> <C> <C> <C> <C> <C>
SB539 10216114990 JENSEN LAMAR G 97,750.00 SF 866.87 97,604.32 85.0
SB539 10216125653 CURRAN THOMAS J 169,400.00 MF 1,170.00 169,400.00 70.0
SB539 10216126396 SADEJ STANLEY 154,000.00 MF 1,554.49 154,000.00 53.2
SB539 10216127086 BURT DANIEL L 80,750.00 SF 791.97 80,750.00 85.0
SB539 10216128704 NICHOL MERLIN K 93,600.00 SF 795.59 93,600.00 90.0
SB539 10216129821 KAWCZYNSKI JACEK A 189,000.00 SF 1,658.61 189,000.00 70.0
SB539 10216129940 PENNY CHARMAINE HARRIET 69,200.00 SF 652.48 69,200.00 80.0
SB539 10216130030 RODRIGUEZ ROD 157,500.00 SF 1,310.01 157,500.00 90.0
---------------------------------------------------------- --------------------------------------------
8 Sale Total 1,011,200.00 8,800.02 1,011,054.32 75.7
</TABLE>
Next Current Property
Adjustment Mortgage Value at Owner
Sale ID Account Date Rate Origination Occupied
- -----------------------------------------------------------------------------
SB539 10216114990 12/01/96 10.125 115,000.00 Y
SB539 10216125653 03/01/97 7.375 242,000.00 N
SB539 10216126396 03/01/97 11.750 289,000.00 Y
SB539 10216127086 03/01/97 11.375 95,000.00 Y
SB539 10216128704 03/01/97 9.625 104,000.00 Y
SB539 10216129821 03/01/97 10.000 270,000.00 Y
SB539 10216129940 04/01/97 10.875 86,500.00 Y
SB539 10216130030 03/01/97 9.375 175,000.00 Y
------------- --------------------------------
8 9.876 1,376,500.00
<PAGE>
Alliance Funding Company Page 6 9/27/96
A division of Superior Bank FSB
Sale Schedule B
1996-3 Class 2 - 1st Subsequent Transfer of
Adjustable Rate Mortgages - Settlement 9/27/96
<TABLE>
<CAPTION>
Principal Type of Scheduled Cut-off Date Original
Balance at Mortgaged Payment Principal LTV
Sale ID Account Name Origination Property Int & Prin Balance Ratio
- ---------------------------------------------------------------------------------------------------------------------------
<C> <C> <S> <C> <C> <C> <C> <C>
SB540 10216117920 GARRETT KAREN S 56,500.00 SF 559.51 56,500.00 64.9
SB540 10216120465 JULIANO THERESA 149,000.00 SF 1,225.79 149,000.00 67.7
SB540 10216120789 STOFFEL RANDELL J 108,800.00 SF 1,036.13 108,800.00 80.0
SB540 10216123112 MCDEVITT JOHN A 70,000.00 SF 556.95 70,000.00 50.3
SB540 10216123485 DAWES WILLIAM 136,000.00 SF 1,333.84 135,910.23 80.0
SB540 10216124146 LEVINE ARTHUR A 108,500.00 MF 843.90 108,500.00 70.0
SB540 10216125685 SIEGFRIED DANIEL C 78,400.00 SF 798.90 78,400.00 80.0
SB540 10216126347 MOHAMAD KHALED 71,250.00 MF 605.62 71,250.00 62.5
SB540 10216127414 CARTER LLOYD WILLIS 72,000.00 SF 572.86 72,000.00 80.0
SB540 10216127534 COSTANTINI DONNA 157,500.00 MF 1,455.45 157,500.00 90.0
SB540 10216127600 DEMBECK DAVID M 180,000.00 SF 1,274.03 180,000.00 84.5
SB540 10216127814 JOHNSON KYLE ROBERT 91,800.00 SF 814.10 91,800.00 85.0
SB540 10216129035 MARTINEZ JOSE P 90,000.00 SF 764.99 90,000.00 90.0
SB540 10216129546 EBERHARDT MICHAEL D 211,500.00 SF 1,570.38 211,500.00 90.0
SB540 10216130643 BRAGG MICHAEL ANTHONY 42,500.00 SF 376.90 42,500.00 85.0
---------------------------------------------------------- --------------------------------------------
15 Sale Total 1,623,750.00 13,789.35 1,623,660.23 79.4
95 Total with Superior Bank 9,697,200.00 84,796.45 9,695,681.33 80.1
165 Grand Total 18,665,435.00 162,812.93 18,663,345.48 80.2
</TABLE>
Next Current Property
Adjustment Mortgage Value at Owner
Sale ID Account Date Rate Origination Occupied
- -----------------------------------------------------------------------------
SB540 10216117920 04/01/97 11.500 87,000.00 Y
SB540 10216120465 03/01/97 9.250 220,000.00 Y
SB540 10216120789 03/01/97 11.000 136,000.00 Y
SB540 10216123112 03/01/97 8.875 139,000.00 Y
SB540 10216123485 02/01/97 11.375 170,000.00 Y
SB540 10216124146 04/01/97 8.625 155,000.00 N
SB540 10216125685 03/01/97 11.875 98,000.00 Y
SB540 10216126347 03/01/97 9.625 114,000.00 Y
SB540 10216127414 03/01/97 8.875 90,000.00 Y
SB540 10216127534 03/01/97 10.625 175,000.00 Y
SB540 10216127600 03/01/97 7.625 213,000.00 Y
SB540 10216127814 04/01/97 10.125 108,000.00 Y
SB540 10216129035 03/01/97 9.625 100,000.00 Y
SB540 10216129546 04/01/97 8.125 235,000.00 Y
SB540 10216130643 04/01/97 10.125 50,000.00 Y
------------- --------------------------------
15 9.592 2,090,000.00
95 9.943 12,311,100.00
165 9.913 23,620,100.00
