- -------------------------------------------------------------------------------
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Form 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
Date of Report (Date of earliest event reported) July 25, 1996
SUPERIOR BANK FSB (as depositor under the Pooling and Servicing Agreement, dated
as of June 1, 1996, providing for the issuance of AFC Mortgage Loan Asset Backed
Certificates, Series 1996-2)
Superior Ban FSB
- --------------------------------------------------------------------------------
(Exact name of registrant as specified in its charter)
United States 333-4492 36-1414142
- ---------------------------- ------------- ----------------------
(State or Other Jurisdiction (Commission (I.R.S. Employer
of Incorporation) File Number) Identification Number)
One Lincoln Centre
Oakbrook Terrace, Illinois 60181
- -------------------------- ---------
(Address of Principal (Zip Code)
Executive Offices)
Registrant's telephone number, including area code (708) 916-4000
- --------------------------------------------------------------------------------
<PAGE>
Item 5. Other Events
On July 25, 1996 (a "Remittance Date") a scheduled remittance was made to
the Certificateholders with respect to AFC Mortgage Loan Asset Backed
Certificates, Series 1996-2, issued pursuant to a Pooling and Servicing
Agreement, dated as of June 1, 1996, among Superior Band FSB., as Depositor, Lee
Servicing Company, a division of Superior Bank FSB., as Servicer and LaSalle
National Bank, as Trustee. The information contained in the Servicer's Monthly
Remittance Report to the Trustee, which shall be forwarded by the Trustee to the
Certificateholders, is attached hereto as Exhibit 21.1 and is incorporated
herein by reference.
Capitalized terms used herein and not defined shall have the same
meanings ascribed to them in the pooling and Servicing Agreement.
Items 2 through 4 and Items 6 and 8 are not included because they are
not applicable.
Item 7. Financial Statements, Pro Forma Financial Information
and Exhibits
(a) Not applicable
(b) Not applicable
(c) Exhibits
21.1 Monthly Remittance Report for the month of July, 1996.
<PAGE>
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 F.B.
By: /s/ William C. Bracken
----------------------------
Name: William C. Bracken
Title: Executive Vice President
Dated: July, 1996
<PAGE>
EXHIBITS TABLE
21.1 Monthly Remittance Report for the month of July, 1996.
REVISED 7/23/96
EXHIBIT 21.1
ALLIANCE FUNDING COMPANY
by LEE SERVICING COMPANY, A division of SUPERIOR BANK FSB,
Designated Servicer
SERVICERS CERTIFICATE
1996-2 SUB POOL 2
In accordance with section 6.08 of the Pooling and Servicing Agreement
dated as of June 01, 1996 and the Insurance Agreement dated as of June 19, 1996,
Lee Servicing Company reports the following information pertaining to series
1996-2 Sub Pool 2 for July 25, 1996, the Remittance date.
Period Ended: July 1, 1996
- --------------------------------------------------------------------------------
1 Total Actual Principal Collections 307,257.49
2 Total Actual Interest Collections 76,292.71
3 Additional Proceeds 0.00
----------
4 Total Collections: 383,550.20
5 Pre-Funding Account Transfer 0.00
6 Interest Coverage Account Transfer 228,468.49
----------
Additional Transfers: 228,468.49
----------
7 Aggregate Amount Received: 612,018.69
Monthly Advance
8 Delinquent Interest 344,101.84
9 Compensating Interest 695.97
10 Amounts Held for Future Distributions 0.00
11 Supplemental Interest 0.00
----------
12 Available Remittance Amount: 956,816.50
13 Less: Service Fees 22,251.53
14 Expense Account Deposit 2,042.32
15 Deposits/Withdrawals for Cross Collaterlization 0.00
----------
16 Adjusted Remittance Amount: 932,522.65
Remaining Amount Available:
17 Adjusted Remittance Amount 932,522.65
18 Insured Payments 0.00
19 Insurance Account Deposit @ 13bp 8,850.05
the ending Class A P-balance
20 Class Remittance Amounts 923,672.60
21 Non-Recoverable Advances not
previously reimbursed 0.00
----------
22 Total Remaining Amount Available: 0.00
==========
Amount of Reimbursements Pursuant to Sec. 5.04
23 Servicing Fee 0.00
24 Monthly Advances and Servicer Advances 0.00
25 Other Mortgage Payments 0.00
26 Interest Earned on P&I Deposits 0.00
27 Additional Servicing Compensation 0.00
- --------------------------------------------------------------------------------
Page 1 of 4
<PAGE>
REVISED 7/23/96
ALLIANCE FUNDING COMPANY
by LEE SERVICING COMPANY, A division of SUPERIOR BANK FSB,
Designated Servicer
SERVICERS CERTIFICATE
1996-2 SUB POOL 2
In accordance with section 6.08 of the Pooling and Servicing Agreement
dated as of June 01, 1996 and the Insurance Agreement dated as of June 19, 1996,
Lee Servicing Company reports the following information pertaining to series
1996-2 Sub Pool 2 for July 25, 1996, the Remittance date.
Period Ended: July 1, 1996
- --------------------------------------------------------------------------------
<TABLE>
<CAPTION>
Total Class 2-A Class R
------------- ------------- -----------
<S> <C> <C> <C> <C>
28 Number of Loans 441
29 Opening Loan balance 53,157,223.06 53,157,223.06
30 Pre-Funding Account Balance 31,641,122.34 31,641,122.34
31 Additional principal reduction, LTD 2,798,345.40 2,798,345.40
32 Realized losses, LTD 0.00 0.00
33 Carryforward amount 0.00 0.00
------------- -------------
34 Total Class Principal Balance 82,000,000.00 82,000,000.00
35 Pool factor per loan balance 64.8258818% 64.8258818%
36 Factor per class balance 100.0000000% 100.0000000%
37 Class R Remittance 141,238.23 141,238.23
38 Additional Principal due Class A (141,238.23) (141,238.23)
39 Deposits/Withdrawals for Cross Collaterlization 0.00 0.00
40 Interest remittance 475,176.88 475,176.88
Principal additions:
41 Number of loans 166
42 Transfers from Pre-Funding Account 20,481,138.71 20,481,138.71
Principal reductions:
43 Prepayments -- number 4 4
44 Prepayments -- dollar 283,609.09 283,609.09
45 Net Liquidation Proceeds 0.00 0.00
46 Curtailments 0.00 0.00
47 Normal and excess payments 23,648.40 23,648.40
48 Pre-Funding Account Transfer 0.00 0.00
------------- ------------- ----------
49 Total principal Remittance 307,257.49 307,257.49
50 Additional principal reduction 141,238.23 141,238.23
------------- ------------- ----------
51 Total remittance 923,672.60 923,672.60 0.00
============= ============= ==========
52 Carryforward Amount 0.00
53 Current Month Realized Loss -- number 0
54 Current Month Realized Loss -- dollar 0.00
55 Number of Loans 603
Class principal balance -- end of month
56 Loan balance 73,331,104.28 73,331,104.28
57 Pre-Funding Account Balance 11,159,983.63 11,159,983.63
58 Additional principal reduction, LTD 2,939,583.63 2,939,583.63
59 Realized losses, LTD 0.00 0.00
60 Carryforward amount 0.00 0.00
------------- -------------
61 Total Class A principal 81,551,504.28 81,551,504.28
62 Class factor per loan balance 89.4281760% 89.4281760%
63 Class factor per class balance 99.4530540% 99.4530540%
- --------------------------------------------------------------------------------
</TABLE>
Page 2 of 4
<PAGE>
<TABLE>
<CAPTION>
REVISED 7/23/96
ALLIANCE FUNDING COMPANY
by LEE SERVICING COMPANY, A division of SUPERIOR BANK FSB,
Designated Servicer
SERVICERS CERTIFICATE
1996-2 SUB POOL 2
In accordance with section 6.08 of the Pooling and Servicing Agreement
dated as of June 01, 1996 and the Insurance Agreement dated as of June 19, 1996,
Lee Servicing Company reports the following information pertaining to series
1996-2 Sub Pool 2 for July 25, 1996, the Remittance date.
Period Ended: July 1, 1996
- --------------------------------------------------------------------------------
Total Class A1
------------- -------------
<S> <C> <C> <C> <C>
64 Weighted Note Rate: 9.48324%
65 Pass-Through Rate: 5.79484% 5.79484%
66 Related Remittance Period 19-Jun-96 thru 24-Jul-96
67 Days in Related Period: 36
68 Weighted Average Remaining Term 357.69
69 Original Pool -- Principal Balance 53,157,223.06 53,157,223.06
70 Original Pool -- Pre-Funding Account 31,641,122.34 31,641,122.34
71 Original Pool -- Additional Principal Reduction 2,798,345.40 2,798,345.40
------------- -------------
72 Original Pool Total 82,000,000.00 82,000,000.00
73 Original Pool -- Number of Loans 441
CLASS A OVER-COLLATERALIZATION RECONCILIATION
Beginning of
Month Current Month End of Month
------------- ------------- ------------
74 Additional Principal Reduction, LTD 2,798,345.40 141,238.23 2,939,583.63
75 Less: Realized Losses, LTD 0.00 0.00 0.00
76 Deposits/Withdrawals from Cross Collaterlization 0.00 0.00 0.00
------------- ------------- ------------
77 Over-collateralization of Principal 2,798,345.40 141,238.23 2,939,583.63
============= ============= ============
78 Base Overcollateralization Requirement 4,027,921.00
CURRENT MONTH SUBORDINATED AMOUNT Beginning of
Month Current Month End of Month
------------- ------------- ------------
79 Original Subordinated Amount 9,327,818.00 N/A 9,327,818.00
80 Less: Cumulative Realized Losses 0.00 0.00 0.00
81 Plus: Cumulative Additional Proceeds 0.00 0.00 0.00
------------- ------------- ------------
82 Current Subordinated Amount 9,327,818.00 9,327,818.00
============= ============
NONRECOVERABLE ADVANCE RECONCILIATION
83 Beginning of Month 0.00
84 Current Month Unpaid Nonrecoverable Advance 0.00
85 Less: Current Month Reimbursment 0.00
-------------
86 End of Month 0.00
=============
- --------------------------------------------------------------------------------
</TABLE>
Page 3 of 4
<PAGE>
REVISED 7/23/96
ALLIANCE FUNDING COMPANY
by LEE SERVICING COMPANY, A division of SUPERIOR BANK FSB,
Designated Servicer
SERVICERS CERTIFICATE
1996-2 SUB POOL 2
In accordance with section 6.08 of the Pooling and Servicing Agreement
dated as of June 01, 1996 and the Insurance Agreement dated as of June 19, 1996,
Lee Servicing Company reports the following information pertaining to series
1996-2 Sub Pool 2 for July 25, 1996, the Remittance date.
Period Ended: July 1, 1996
- --------------------------------------------------------------------------------
Class
A1
--------------
87 Total Class Principal -- Original Pool $82,000,000.00 $82,000,000.00
88 Interest Remittance Amount 475,176.88 475,176.88
89 Interest Rate Factor/1000 5.794840 5.794840
90 Total Principal Collections 307,257.49 307,257.49
91 Prefunding Account Transfer 0.00 0.00
92 Additional Principal Reduction 141,238.23 141,238.23
------------- --------------
93 Principal Remittance Amount 448,495.72 448,495.72
94 Principal Payment Factor/1000 5.469460 5.469460
95 Principal Factor 994.530540 994.530540
- --------------------------------------------------------------------------------
Page 4 of 4
<PAGE>
REVISED 7/23/96
ALLIANCE FUNDING COMPANY
by LEE SERVICING COMPANY, a division of SUPERIOR BANK, FSB
Designated Servicer
SERVICER'S CERTIFICATE
1996-2 Sub-Pool 1
In accordance with section 6.08 of the Pooling and
Servicing Agreement dated as of June 1, 1996
Lee Servicing Company reports the following information
pertaining to Series 1996-2 Sub-Pool 1
for July 25, 1996, the Remittance date.
Due period ended: July 1, 1996
- -----------------------------------------------------------------------------
1 Total Actual Principal Collections 629,988.57
2 Total Actual Interest Collections 245,319.29
3 Additional Proceeds 0.00
------------
4 Total Collections: 875,307.86
5 Pre-Funding Account Transfer 0.00
6 Interest Coverage Account Transfer 452,431.07
------------
7 Aggregate Amount Received: 1,327,738.93
Monthly Advances
8 Delinquent Interest 620,053.42
9 Compensating Interest 3,037.17
10 Amounts Held for Future Distributions 0.00
------------
11 Available Remittance Amount: 1,950,829.52
12 Service Fees 40,675.27
13 Expense Account Deposit: 3,559.25
------------
14 Adjusted Remittance Amount: 1,906,595.00
Remaining Amount Available:
15 Adjusted Remittance Amount 1,906,595.00
16 Insured Payments 0.00
17 Insurance Account Deposit @ 13 bp
the Ending Principal balance 15,423.42
18 Class Remittance Amounts 1,891,171.58
19 Non-Recoverable Advances not
previously reimbursed 0.00
============
20 Total Remaining Amount Available: 0.00
============
Amount of Reimbursements Pursuant to Sec. 5.04
21 Servicing Fee 0.00
22 Monthly Advances and Servicer Advances 0.00
23 Other Mortgage Payments 0.00
24 Interest Earned on P&I Deposits 0.00
25 Additional Servicing Compensation 0.00
- -----------------------------------------------------------------------------
Page 1 of 4
<PAGE>
<TABLE>
REVISED 7/23/96
ALLIANCE FUNDING COMPANY
by LEE SERVICING COMPANY, a division of SUPERIOR BANK, FSB
Designated Servicer
SERVICER'S CERTIFICATE
1996-2 Sub-Pool 1
In accordance with section 6.08 of the Pooling and Servicing Agreement dated as of June 1, 1996
Lee Servicing Company reports the following information
pertaining to Series 1996-2 Sub-Pool 1 for July 25, 1996, the Remittance date.
<CAPTION>
Due period ended: July 1, 1996
- -------------------------------------------------------------------------------------------------------------------
Total Class A-1 Class A-2 Class A-3
-------------- ------------- ------------- -------------
<S> <C> <C> <C> <C>
26 Number of Loans 1464
27 Original Loan balance 91,623,068.53 41,006,128.57 6,407,207.59 15,377,298.22
28 Pre-Funding Account Balance 53,510,393.36 23,948,707.52 3,741,985.55 8,980,765.32
29 Additional Principal Reduction 2,133,461.89 954,836.09 149,193.14 358,063.53
30 Realized losses, LTD 0.00 0.00 0.00 0.00
31 Carryforward amount 0.00 0.00 0.00 0.00
-------------- ------------- ------------- -------------
32 Total Class Principal 143,000,000.00 64,000,000.00 10,000,000.00 24,000,000.00
33 Pool factor per Loan Balance 64.0720759% 28.6756144% 4.4805647% 10.7533554%
34 Factor per Class Balance 100.0000000% 44.7552448% 6.9930070% 16.7832168%
35 Excess Spread 390,543.25
36 Additional Principal due Class A (390,543.25)
37 Interest remittance @ Class Yield 870,639.76 356,789.76 61,250.00 151,800.00
Principal additions:
38 Number of loans 519
39 Transfers from Pre-Funding Account 36,143,509.65 16,176,116.21 2,527,518.16 6,066,043.58
Principal reductions:
40 Prepayments -- number 7 7
41 Prepayments -- dollar 537,045.27 537,045.27 0.00 0.00
42 Net Liquidation Proceeds 0.00 0.00 0.00 0.00
43 Curtailments 0.00 0.00 0.00 0.00
44 Normal and excess payments 92,943.30 92,943.30 0.00 0.00
45 Pre-Funding Account Transfer 0.00 0.00 0.00 0.00
-------------- ------------- ------------- -------------
46 Total principal Remittance 629,988.57 629,988.57 0.00 0.00
47 Additional principal reduction 390,543.25 390,543.25 0.00 0.00
============== ============= ============= =============
48 Total remittance 1,891,171.58 1,377,321.58 61,250.00 151,800.00
============== ============= ============= =============
49 Current Month Realized Loss -- number 0 0
50 Current Month Realized Loss -- dollar 0.00 0.00
51 Number of Loans 1976
Class principal balance -- end of month
52 Loan balance 127,136,589.61 56,552,256.21 8,934,725.75 21,443,341.79
53 Pre-Funding Account Balance 17,366,883.71 7,772,591.31 1,214,467.39 2,914,721.74
54 Additional principal reduction, LTD 2,524,005.14 1,345,379.34 149,193.14 358,063.53
55 Realized losses, LTD 0.00 0.00 0.00 0.00
-------------- ------------- ------------- -------------
56 Total Class A principal 141,979,468.18 62,979,468.18 10,000,000.00 24,000,000.00
-------------- ------------- ------------- -------------
57 Class factor per loan balance 88.9067061% 39.5470323% 6.2480600% 14.9953439%
58 Class factor per class balance 99.2863414% 44.0415861% 6.9930070% 16.7832168%
- -------------------------------------------------------------------------------------------------------------------
- ----------------------------------------------------------------------------------------------------------------
Class A4 Class A-5 Class A-6 Class R
------------ ------------- ------------- -------------
<S> <C> <C> <C> <C>
26 Number of Loans
27 Original Loan balance 5,766,486.83 16,018,018.97 7,047,928.35
28 Pre-Funding Account Balance 3,367,786.99 9,354,963.87 4,116,184.11
29 Additional Principal Reduction 134,273.83 372,982.85 164,112.45
30 Realized losses, LTD 0.00 0.00 0.00
31 Carryforward amount 0.00 0.00 0.00
------------ ------------- -------------
32 Total Class Principal 9,000,000.00 25,000,000.00 11,000,000.00
33 Pool factor per Loan Balance 4.0325083% 11.2014119% 4.9286212%
34 Factor per Class Balance 6.2937063% 17.4825175% 7.6923077%
35 Excess Spread 390,543.25
36 Additional Principal due Class A (390,543.25)
37 Interest remittance @ Class Yield 58,050.00 166,666.67 76,083.33
Principal additions:
38 Number of loans
39 Transfers from Pre-Funding Account 2,274,766.34 6,318,795.39 2,780,269.97
Principal reductions:
40 Prepayments -- number
41 Prepayments -- dollar 0.00 0.00 0.00
42 Net Liquidation Proceeds 0.00 0.00 0.00
43 Curtailments 0.00 0.00 0.00
44 Normal and excess payments 0.00 0.00 0.00
45 Pre-Funding Account Transfer 0.00 0.00 0.00
------------ ------------- ------------- -------------
46 Total principal Remittance 0.00 0.00 0.00
47 Additional principal reduction 0.00 0.00 0.00
============ ============= ============= =============
48 Total remittance 58,050.00 166,666.67 76,083.33 0.00
============ ============= ============= =============
49 Current Month Realized Loss -- number
50 Current Month Realized Loss -- dollar
51 Number of Loans
Class principal balance -- end of month
52 Loan balance 8,041,253.17 22,336,814.37 9,828,198.32
53 Pre-Funding Account Balance 1,093,020.65 3,036,168.48 1,335,914.13
54 Additional principal reduction, LTD 134,273.83 372,982.85 164,112.45
55 Realized losses, LTD 0.00 0.00 0.00
------------ ------------- -------------
56 Total Class A principal 9,000,000.00 25,000,000.00 11,000,000.00
------------ ------------- -------------
57 Class factor per loan balance 5.6232540% 15.6201499% 6.8728660%
58 Class factor per class balance 6.2937063% 17.4825175% 7.6923077%
- ----------------------------------------------------------------------------------------------------------------
</TABLE>
Page 2 of 4
<PAGE>
<TABLE>
REVISED 7/23/96
ALLIANCE FUNDING COMPANY
by LEE SERVICING COMPANY, a division of SUPERIOR BANK, FSB
Designated Servicer
SERVICER'S CERTIFICATE
1996-2 Sub-Pool 1
In accordance with section 6.08 of the Pooling and Servicing Agreement dated as of June 1, 1996
Lee Servicing Company reports the following information
pertaining to Series 1996-2 Sub-Pool 1 for July 25, 1996, the Remittance date.
<CAPTION>
Due period ended: July 1, 1996
- ------------------------------------------------------------------------------------------------------------------------
Total Class A-1 Class A-2 Class A-3
-------------- ------------- ------------- -------------
<S> <C> <C> <C> <C>
59 Weighted Note Rate -- THIS remittance 11.15021%
60 Weighted Note Rate -- NEXT remittance N/A
61 Related Remittance Period for Libor Rate 19-Jun-96 thru 24-Jul-96
62 Days in Related Period 36
63 Pass-Through Rate -- THIS remittance 5.57484% 7.350% 7.590%
64 Weighted Average Remaining Term 219.50
65 Original Pool -- Principal Balance 91,623,068.53 41,006,128.57 6,407,207.59 15,377,298.22
66 Original Pool -- Pre-Funding Account 53,510,393.36 23,948,707.52 3,741,985.55 8,980,765.32
67 Original Pool -- Additional Principal Reduction 2,133,461.89 954,836.09 149,193.14 358,063.53
-------------- ------------- ------------- -------------
68 Original Pool Total 143,000,000.00 64,000,000.00 10,000,000.00 24,000,000.00
70 Original Pool -- Number of Loans 864
- ------------------------------------------------------------------------------------------------------------------------
Class A4 Class A-5 Class A-6
------------ ------------- -------------
<S> <C> <C> <C>
59 Weighted Note Rate - THIS remittance
60 Weighted Note Rate - NEXT remittance
61 Related Remittance Period for Libor Rate
62 Days in Related Period
63 Pass-Through Rate - THIS remittance 7.740% 8.000% 8.300%
64 Weighted Average Remaining Term
65 Original Pool -- Principal Balance 5,766,486.83 16,018,018.97 7,047,928.35
66 Original Pool -- Pre-Funding Account 3,367,786.99 9,354,963.87 4,116,184.11
67 Original Pool -- Additional Principal Reduction 134,273.83 372,982.85 164,112.45
------------ ------------- -------------
68 Original Pool Total 9,000,000.00 25,000,000.00 11,000,000.00
70 Original Pool -- Number of Loans
- ---------------------------------------------------------------------------------------------------------------
Class A Over-Collateralization Reconciliation Beg.of Month Current Month End of Month
--------------------------------------------- ------------- ------------- -------------
<S> <C> <C> <C>
71 Additional Principal Reduction, LTD 2,133,461.89 390,543.25 2,524,005.14
72 Less: Realized Losses, LTD 0.00 0.00 0.00
------------- ---------- -------------
73 Over-collateralization of Principal 2,133,461.89 390,543.25 2,524,005.14
============= ========== =============
74 Base Over-Collateralization Required 7,430,833.00
75 Required Over-Collateralization Amount 7,430,833.00
Current Month Subordinated Amount Beg.of Month Current Month End of Month
--------------------------------- ------------- ------------- -------------
76 Original Subordinated Amount 14,745,560.00 N/A 14,745,560.00
77 Less: Cummulative Realized Losses 0.00 0.00 0.00
78 Plus: Cummulative Additional Proceeds 0.00 0.00 0.00
------------- ---------- -------------
79 Current Subordinated Amount 14,745,560.00 14,745,560.00
============= ========== =============
Nonrecoverable Advance Reconciliation
-------------------------------------
80 Beginning of Month 0.00
81 Current Month Unpaid Nonrecoverable Advance 0.00
82 Less: Current Month Reimbursement 0.00
----------
83 End of Month 0.00
- ---------------------------------------------------------------------------------------------------------------
</TABLE>
Page 3 of 4
<PAGE>
<TABLE>
REVISED 7/23/96
ALLIANCE FUNDING COMPANY
by LEE SERVICING COMPANY, a division of SUPERIOR BANK, FSB
Designated Servicer
SERVICER'S CERTIFICATE
1996-2 Sub-Pool 1
In accordance with section 6.08 of the Pooling and Servicing Agreement dated as of June 1, 1996
Lee Servicing Company reports the following information
pertaining to Series 1996-2 Sub-Pool 1 for July 25, 1996, the Remittance date.
<CAPTION>
Due period ended: July 1, 1996
- --------------------------------------------------------------------------------------------------------------------------------
Class A1 Class A2 Class A3
--------------- -------------- -------------- --------------
<S> <C> <C> <C> <C>
84 Total Class Principal -- Original Pool $143,000,000.00 $64,000,000.00 $10,000,000.00 $24,000,000.00
85 Interest Remittance Amount 870,639.76 356,789.76 61,250.00 151,800.00
86 Interest Rate Factor/1000 6.088390 5.574840 6.125000 6.325000
87 Total Principal Collections 629,988.57 629,988.57 0.00 0.00
88 Prefunding Account Transfer 0.00 0.00 0.00 0.00
89 Additional Principal Reduction 390,543.25 390,543.25 0.00 0.00
--------------- -------------- -------------- --------------
90 Principal Remittance Amount 1,020,531.82 1,020,531.82 0.00 0.00
91 Principal Payment Factor/1000 7.136586 15.945810 0.000000 0.000000
92 Principal Factor 992.863414 984.054190 1,000.000000 1,000.000000
- --------------------------------------------------------------------------------------------------------------------------------
- ---------------------------------------------------------------------------------------------------------
Class A4 Class A5 Class A6
------------- -------------- --------------
<S> <C> <C> <C>
84 Total Class Principal -- Original Pool $9,000,000.00 $25,000,000.00 $11,000,000.00
85 Interest Remittance Amount 58,050.00 166,666.67 76,083.33
86 Interest Rate Factor/1000 6.450000 6.666667 6.916666
87 Total Principal Collections 0.00 0.00 0.00
88 Prefunding Account Transfer 0.00 0.00 0.00
89 Additional Principal Reduction 0.00 0.00 0.00
------------- -------------- --------------
90 Principal Remittance Amount 0.00 0.00 0.00
91 Principal Payment Factor/1000 0.000000 0.000000 0.000000
92 Principal Factor 1,000.000000 1,000.000000 1,000.000000
- ---------------------------------------------------------------------------------------------------------
</TABLE>
Page 4 of 4
