SUPPLEMENT TO PROSPECTUS SUPPLEMENT
(Dated December 18, 1996)
$220,000,000
AFC MORTGAGE LOAN ASSET BACKED CERTIFICATES, SERIES 1996-4
SUPERIOR BANK FSB,
DEPOSITOR
------------------------
The table located on page S-57 of the Prospectus Supplement should be
replaced in its entirety by the following table:
<TABLE>
HYPOTHETICAL SIX-MONTH LIBOR LOANS
<CAPTION>
Months Original Remaining
to Mortgage Maximum Minimum Term to Term to
Rate Interest Gross Interest Interest Maturity Maturity
Principal Balance Change Rate Margin Rate Rate (In Months) (In Months)
- ----------------- ------ ---- ------ ---- ---- ----------- -----------
<S> <C> <C> <C> <C> <C> <C> <C>
Sub-Pool 2 Initial Mortgage Loans:
$ 235,662.86 1 9.750% 6.750% 15.750% 9.750% 360 356
$ 1,404,686.21 2 10.211% 6.410% 16.211% 10.211% 360 357
$ 6,350,796.97 3 10.432% 6.803% 16.432% 10.432% 360 358
$15,977,774.30 4 10.114% 6.388% 16.114% 10.114% 360 359
$14,978,144.57 5 10.218% 6.434% 16.218% 10.218% 360 360
$ 1,115,536.41 6 9.513% 5.583% 15.513% 9.513% 360 360
$ 4,404,580.49 23 10.648% 6.185% 16.648% 9.648% 360 360
$ 975,901.36 24 10.519% 6.073% 16.519% 9.519% 360 360
Subsequent Mortgage Loans (first
subsequent transfer balance as of
January 1, 1997):
$12,621,492.51 6 10.188% 6.451% 16.188% 10.188% 360 360
$ 1,695,089.91 24 10.625% 6.164% 16.625% 9.625% 360 360
Subsequent Mortgage Loans (second
subsequent transfer balance as of
February 1, 1997):
$12,621,492.51 6 10.188% 6.451% 16.188% 10.188% 360 360
$ 1,695,089.91 24 10.625% 6.164% 16.625% 9.625% 360 360
</TABLE>
December 18, 1996
