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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) June 25, 1997
SUPERIOR BANK FSB (as depositor under the Pooling and Servicing Agreement, dated
as of June 1, 1997, providing for the issuance of AFC Mortgage Loan Asset Backed
Certificates, Series 1997-2)
SUPERIOR BANK FSB
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(Exact name of registrant as specified in its charter)
UNITED STATES 333-21485 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 (630) 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 June 25, 1997 a single series of certificates, entitled AFC Mortgage
Loan Asset Backed Certificates, Series 1997-2 (the "Certificates") were issued
pursuant to a pooling and servicing agreement (the "Agreement") attached hereto
as Exhibit 4.1, dated as of June 1, 1997, 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 seven classes identified as Class 1A-1, Class 1A-2,
Class 1A-3, Class 1A-4, Class 1A-5 (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 $213,894,091.49 as of
June 1, 1997 (the "Cut-off Date") and an aggregate amount of $40,937,753.72
deposited on the Closing Date in the Sub-Pool 1 Pre-Funding Account and an
aggregate amount of $52,861,851.87 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 June 18, 1997 among the Depositor, Merrill and J.P. Morgan.
The Class A Certificates evidence, in the aggregate, $302,000,000 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 6.67% 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 6.76%
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 7.04% 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 6.97% 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 prior to the Cross-over Date,
Excess Spread received by the Servicer. The Certificate Insurance
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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 June 30, 1997 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 $13,084,214.99 with respect to Sub-Pool 1
with funds on deposit in the Sub-Pool 1 Pre-Funding Account, and $20,432,638.21
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 June 30, 1997,
between the Depositor and the Trustee (the "June 30 Instrument"). Attached to
the June 30 Instrument is the Mortgage Loan Schedule with respect to each
Sub-Pool listing the related Subsequent Mortgage Loans that are the subject of
such June 30 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 June 1, 1997, 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 June 30, 1997, 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: June 30, 1997
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EXHIBITS TABLE
4.1 Pooling and Servicing Agreement, dated as of June 1, 1997, 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 June 30, 1996, between Superior
Bank FSB as Depositor and LaSalle National Bank as Trustee.
EXECUTION COPY
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POOLING AND SERVICING AGREEMENT
Dated as of June 1, 1997
LASALLE NATIONAL BANK
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(Trustee)
SUPERIOR BANK FSB
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(Depositor)
and
LEE SERVICING COMPANY,
A DIVISION OF SUPERIOR BANK FSB
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(Servicer)
AFC Mortgage Loan Asset Backed
Certificates, Series 1997-2
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<TABLE>
<CAPTION>
TABLE OF CONTENTS
ARTICLE I
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DEFINITIONS................................................. 2
ARTICLE II
SALE AND CONVEYANCE OF THE TRUST FUND....................... 40
Section 2.01 Sale and Conveyance of Trust Fund; Priority and Subordination of
Ownership Interests......................................................... 40
Section 2.02 Possession of Mortgage Files................................................ 40
Section 2.03 Books and Records........................................................... 40
Section 2.04 Delivery of Mortgage Loan Documents......................................... 41
Section 2.05 Acceptance by Trustee of the Trust Fund; Certain Substitutions;
Certification by Trustee.................................................... 44
Section 2.06 [Reserved].................................................................. 47
Section 2.07 Execution of Certificates................................................... 47
Section 2.08 Fees and Expenses of the Trustee............................................ 47
Section 2.09 Application of Principal and Interest....................................... 47
Section 2.10 Conveyance of the Subsequent Mortgage Loans................................. 47
ARTICLE III
REPRESENTATIONS AND WARRANTIES.............................. 52
Section 3.01 Representations of the Depositor............................................ 52
Section 3.02 Individual Mortgage Loans................................................... 54
Section 3.03 Purchase and Substitution................................................... 63
ARTICLE IV
THE CERTIFICATES............................................ 66
Section 4.01 The Certificates............................................................ 66
Section 4.02 Registration of Transfer and Exchange of Certificates....................... 66
Section 4.03 Mutilated, Destroyed, Lost or Stolen Certificates........................... 71
Section 4.04 Persons Deemed Owners....................................................... 71
Section 4.05 Information Reports to be Filed by the Servicer............................. 71
ARTICLE V
ADMINISTRATION AND SERVICING OF THE MORTGAGE LOANS.......... 72
Section 5.01 Duties of the Servicer...................................................... 72
Section 5.02 Liquidation of Mortgage Loans............................................... 74
Section 5.03 Establishment of Principal and Interest Accounts; Deposits in
Principal and Interest Accounts............................................. 75
Section 5.04 Permitted Withdrawals From the Principal and Interest Account............... 76
</TABLE>
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Section 5.05 Payment of Property Taxes, Insurance and Other Charges.......................78
Section 5.06 Transfer of Accounts; Monthly Statements.....................................78
Section 5.07 Maintenance of Hazard Insurance..............................................78
Section 5.08 Maintenance of Mortgage Impairment Insurance Policy..........................79
Section 5.09 Fidelity Bond................................................................80
Section 5.10 Title, Management and Disposition of REO Property............................80
Section 5.11 Right to Repurchase Defaulted Mortgage Loans.................................83
Section 5.12 Collection of Certain Mortgage Loan Payments.................................83
Section 5.13 Access to Certain Documentation and Information Regarding the
Mortgage Loans.............................................................84
Section 5.14 Superior Liens...............................................................84
Section 5.15. Environmental Matters........................................................84
Section 5.16 Acknowledgment of Duties and Obligations.....................................85
ARTICLE VI
PAYMENTS TO THE CERTIFICATEHOLDERS...........................86
Section 6.01 Establishment of Certificate Account; Deposits in Certificate Account........86
Section 6.02 Permitted Withdrawals from Certificate Account...............................86
Section 6.03 Establishment of Trustee Expense Account; Deposits in Trustee
Expense Account; Permitted Withdrawals from Trustee Expense Account..........87
Section 6.04 Payment of Monthly Premium to Certificate Insurer............................88
Section 6.05 Investment of Accounts.......................................................89
Section 6.06 Priority and Subordination of Distributions..................................90
Section 6.07 Insufficiency of Amount Available or Net Excess Amount Available............103
Section 6.08 Statements..................................................................104
Section 6.09 Advances by the Servicer....................................................108
Section 6.10 Compensating Interest and Supplemental Interest.............................109
Section 6.11 [Reserved]..................................................................109
Section 6.12 Pre-Funding Account.........................................................109
Section 6.13 Interest Coverage Account...................................................110
Section 6.14 Reserve Account.............................................................112
Section 6.15 Supplemental Interest Account...............................................113
Section 6.16 Compliance with Withholding Requirements....................................114
ARTICLE VII
GENERAL SERVICING PROCEDURE.................................115
Section 7.01 Assumption Agreements.......................................................115
Section 7.02 Satisfaction of Mortgages and Release of Mortgage Files.....................115
Section 7.03 Servicing Compensation......................................................117
Section 7.04 Annual Statement as to Compliance...........................................117
</TABLE>
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Section 7.05 Annual Independent Public Accountants' Servicing Report and
Comfort Letter..............................................................118
Section 7.06 Certificateholder's, Trustee's and Certificate Insurer's Right to
Examine Servicer Records....................................................118
Section 7.07 Reports to the Trustee; Principal and Interest Account Statements...........118
ARTICLE VIII
REPORTS TO BE PROVIDED BY SERVICER..........................119
Section 8.01 Financial Statements........................................................119
ARTICLE IX
THE SERVICER................................................120
Section 9.01 Indemnification; Third Party Claims.........................................120
Section 9.02 Merger or Consolidation of the Depositor and the Servicer...................121
Section 9.03 Limitation on Liability of the Servicer and Others..........................121
Section 9.04 Servicer Not to Resign......................................................121
Section 9.05 Representations of the Servicer.............................................122
Section 9.06 Accounting Upon Resignation or Termination of Servicer......................123
ARTICLE X
DEFAULT.....................................................125
Section 10.01 Events of Default...........................................................125
Section 10.02 Trustee to Act; Appointment of Successor....................................128
Section 10.03 Waiver of Defaults..........................................................130
ARTICLE XI
TERMINATION.................................................131
Section 11.01 Termination.................................................................131
Section 11.02 Additional Termination Requirements.........................................133
Section 11.03 Depositor's Right to Depositor's Yield Absolute.............................133
ARTICLE XII
THE TRUSTEE.................................................135
Section 12.01 Duties of Trustee...........................................................135
Section 12.02 Certain Matters Affecting the Trustee.......................................137
Section 12.03 Trustee Not Liable for Certificates or Mortgage Loans.......................138
Section 12.04 Trustee May Own Certificates................................................139
Section 12.05 Servicer to Pay Trustee's Fees and Expenses.................................139
Section 12.06 Eligibility Requirements for Trustee........................................139
</TABLE>
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Section 12.07 Resignation and Removal of the Trustee......................................140
Section 12.08 Successor Trustee...........................................................141
Section 12.09 Merger or Consolidation of Trustee..........................................141
Section 12.10 Appointment of Co-Trustee or Separate Trustee...............................142
Section 12.11 Tax Returns.................................................................143
Section 12.12 Appointment of Custodians...................................................143
Section 12.13 Trustee May Enforce Claims Without Possession of Certificates...............143
Section 12.14 Suits for Enforcement.......................................................143
Section 12.15 Control of Remedies by Certificate Insurer and Certificateholders...........144
ARTICLE XIII
REMIC PROVISIONS...............................................145
Section 13.01 REMIC Administration........................................................145
Section 13.02 Prohibited Transactions and Activities......................................148
Section 13.03 Servicer and Trustee Indemnification........................................148
ARTICLE XIV
MISCELLANEOUS PROVISIONS...........................................149
Section 14.01 Acts of Certificateholders..................................................149
Section 14.02 Amendment...................................................................149
Section 14.03 Recordation of Agreement....................................................150
Section 14.04 Duration of Agreement.......................................................150
Section 14.05 Governing Law...............................................................150
Section 14.06 Notices.....................................................................150
Section 14.07 Severability of Provisions..................................................151
Section 14.08 No Partnership..............................................................151
Section 14.09 Counterparts................................................................152
Section 14.10 Successors and Assigns......................................................152
Section 14.11 Headings....................................................................152
Section 14.12 The Certificate Insurer.....................................................152
Section 14.13 Paying Agent................................................................152
Section 14.14 Actions of Certificateholders...............................................153
Section 14.15 Grant of Security Interest..................................................154
</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
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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 SPECIAL POWER OF ATTORNEY
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 June 1, 1997, 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 seven classes of
Certificates are being issued on the Closing Date, denominated on the face
thereof as AFC Mortgage Loan Asset Backed Certificates, Series 1997-2, Class
1A-1, Class 1A-2, Class 1A-3, Class 1A-4, Class 1A-5, 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 $94,729,249.31
as of the Cut-off Date, and the Sub-Pool 2 Initial Mortgage Loans have an
aggregate outstanding principal balance of $119,164,842.18 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
$213,894,091.49 as of the Cut-off Date. Sub- Pool 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 6.67% per annum, the
Class 1A-3 Certificates have a fixed Class 1A-3 Pass-Through Rate of 6.76% per
annum, the Class 1A-4 Certificates have a fixed Class 1A-4 Pass-Through Rate of
7.04% per annum and the Class 1A-5 Certificates have a fixed Class 1A-5
Pass-Through Rate of 6.97% 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-1, Class
1A-2, Class 1A-3 and Class 2A Certificates will be "regular interests", the
Class 1A-4 and Class 1A-5 (exclusive of the right to receive Supplemental
Interest) 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 1997-2, Class 1A-1, Class 1A-2, Class 1A-3, Class 1A-4,
Class 1A-5, 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 Accounts 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 July 1997 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 July 1997 Remittance Date, the period commencing on the Closing Date and
ending on the day immediately preceding the July 1997 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).
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
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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
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 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.
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.
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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 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 and (iv) the
amount of any Interest Coverage Addition with respect to the related Sub-Pool
for such Remittance Date. 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 Sub-Pool remaining after the payment, if any, of Additional
Principal on the Class A Certificates related to such other Sub-Pool.
BALLOON MORTGAGE LOAN: Any Mortgage Loan that provided on the date of
origination for an amortization schedule extending beyond its stated maturity
date.
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BALLOON PAYMENT: With respect to any Balloon Mortgage Loan, as of any date
of determination, the Monthly Payment payable on the stated maturity date of
such Mortgage Loan.
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.
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 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, 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.
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CERTIFICATE INSURANCE POLICY: The certificate guaranty surety bond, policy
number 97010355, 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, 2A or R).
CLASS 1A MAJORITY CERTIFICATEHOLDERS: The Holder or Holders of Class 1A-1,
Class 1A-2, Class 1A-3, Class 1A-4 and Class 1A-5 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 or Class 1A-5 Certificate.
CLASS 1A CERTIFICATEHOLDER: A Holder of a Class 1A-1, Class 1A-2, Class
1A-3, Class 1A-4 or Class 1A-5 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 and the Class 1A-5 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.
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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-5 CERTIFICATE AMOUNT: As to any Remittance Date an amount equal to
the product of (x) a fraction, the numerator of which is the Class 1A-5
Principal Balance immediately preceding such Remittance Date and the denominator
of which is the aggregate Class 1A Principal Balance of all Class 1A
Certificates immediately preceding such Remittance Date and (y) the Class A
Principal Remittance Amount with respect to Sub-Pool 1 for such Remittance Date.
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-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 REMIC 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 REMIC Pass-Through Rate on the Class 1A-5 Principal
Balance outstanding immediately prior to such Remittance Date.
CLASS 1A-5 LOCKOUT PERCENTAGE: As to any Remittance Date occurring during
the periods set forth below, an amount equal to as follows:
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Class 1A-5
Period (dates inclusive) Lockout Percentage
------------------------ ------------------
July 25, 1997-June 2000.................................. 0%
July 2000-June 2002...................................... 45%
July 2002-June 2003...................................... 80%
July 2003-June 2004...................................... 100%
July 2004 and thereafter................................. 300%
CLASS 1A-5 LOCKOUT REMITTANCE AMOUNT: As to any Remittance Date, an amount
equal to the product of (x) the Class 1A-5 Lockout Percentage and (y) the Class
1A-5 Certificate Amount for such Remittance Date.
CLASS 1A-1 PASS-THROUGH RATE: As to any Remittance Date, the least of (i)
One-Month LIBOR plus 0.12% 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) 10.50% per
annum; provided, however, that on any Remittance Date on which the Servicer does
not exercise its option to purchase the Mortgage Loans and REO Properties
pursuant to Section 11.01, the rate provided in clause (i) will be One- Month
LIBOR plus 0.52% per annum. For purposes of calculating the Class 1A-1
Pass-Through Rate for any Remittance Date, because most of 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 6.67%; provided,
however, that on any Remittance Date on which the Servicer does not exercise its
option to purchase the Mortgage Loans and REO Properties pursuant to Section
11.01, the rate shall be increased by 0.40% per annum.
CLASS 1A-3 PASS-THROUGH RATE: The fixed annual rate of interest payable to
the Class 1A-3 Certificateholders which shall be equal to 6.76%; provided,
however, that on any Remittance Date on which the Servicer does not exercise its
option to purchase the Mortgage Loans and REO Properties pursuant to Section
11.01, the rate shall be increased by 0.40% per annum.
CLASS 1A-4 PASS-THROUGH RATE: The fixed annual rate of interest payable to
the Class 1A-4 Certificateholders which shall be equal to 7.04%; provided,
however, that on any Remittance Date on which the Servicer does not exercise its
option to purchase the Mortgage Loans and REO Properties pursuant to Section
11.01, the rate shall be increased by 0.40% per annum.
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CLASS 1A-5 PASS-THROUGH RATE: The fixed annual rate of interest payable to
the Class 1A-5 Certificateholders which shall be equal to 6.97%; provided,
however, that on any Remittance Date on which the Servicer does not exercise its
option to purchase the Mortgage Loans and REO Properties pursuant to Section
11.01, the rate shall be increased by 0.40% per annum.
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)(xiii) through (xvii) 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)(xiii) 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)(xiv) 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 principal on all previous Remittance
Dates on account of amounts described in clauses (c)(i)
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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)(xv)
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)(xvi) 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)(xvii) and (C) all amounts
previously distributed to the Class 1A-5 Certificateholders pursuant to the last
paragraph of Section 6.06(c).
CLASS 1A-4 REMIC PASS-THROUGH RATE: The annual rate of interest payable to
the Class 1A-4 Certificateholders which shall be equal to the lesser of (i) the
weighted average of the Mortgage Rates of the Sub-Pool 1 Mortgage Loans minus,
(a) the Servicing Fee Rate, (b) the rate at which the Annual Trustee Expense is
calculated and (c) the Premium Percentage and (ii) 7.04%; provided, however that
on any Remittance Date on which the Servicer does not exercise its option to
purchase the Mortgage Loans and REO Properties pursuant to Section 11.01, the
rate provided in clause (ii) shall be 7.44%.
CLASS 1A-5 REMIC PASS-THROUGH RATE: The annual rate of interest payable to
the Class 1A-5 Certificateholders which shall be equal to the lesser of (i) the
weighted average of the Mortgage Rates of the Sub-Pool 1 Mortgage Loans minus,
(a) the Servicing Fee Rate, (b) the rate at which the Annual Trustee Expense is
calculated and (c) the Premium Percentage and (ii) 6.97; provided, however, that
on any Remittance Date on which the Servicer does not exercise its option to
purchase the Mortgage Loans and REO Properties pursuant to Section 11.01, the
rate provided in clause (ii) shall be 7.37%.
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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 and the
Class 1A-5 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.
CLASS 2A PASS-THROUGH RATE: As to any Remittance Date, the lesser of (i)
One-Month LIBOR plus 0.24% 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) 0.50%
per annum; provided, however, that on any Remittance Date on which the Servicer
does not exercise its right to purchase Mortgage Loans and REO Properties
pursuant to Section 11.01, the rate provided in clause (i) will be One-Month
LIBOR plus 0.64%. For purposes of calculating the Class 2A Pass-Through Rate for
any Remittance Date, because most of 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 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).
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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 (xi) or pursuant to 6.06(c)(A)(Y)(i) through (xi), 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 and the Class
1A-5 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 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 or the Class 2A Interest Remittance Amount. For
purposes of calculating the Supplemental Interest, the Class 1A-4 Interest
Remittance Amount and the Class 1A-5 Interest Remittance Amount shall be
determined using the Class 1A-4 Pass-Through Rate or Class 1A-5 Pass-Through
Rate, as appropriate.
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 or the
Class 2A Pass-Through Rate.
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
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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 Preference Amount by a trustee in
bankruptcy pursuant to the United States Bankruptcy Code in accordance with a
Final Order; 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)(xiii) through (xvii) 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.
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: June 25, 1997.
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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: June 1, 1997.
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).
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;
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(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.
DELINQUENT: A Mortgage Loan is delinquent if any payment due thereon is not
made by the close of business on the Due Date. A Mortgage Loan is "30 days
delinquent" if such payment has not been received by the close of business on
the corresponding day of the month immediately succeeding the month in which
such payment was due, or, if there is no such corresponding day (e.g., as when a
30-day month follows a 31-day month in which a payment was due on the 31st day
of such month) then on the close of business on the last day of such immediately
succeeding month. Similarly for "60 days delinquent," "90 days delinquent" and
so on.
DEPOSIT PREMIUM: As defined in the Insurance Agreement.
DEPOSITOR: Superior Bank FSB, a federally chartered stock savings bank, and
any successor thereto.
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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
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.
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 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.
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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 CrossOver Date, the amounts remitted by the Servicer and available to
the Trustee pursuant to Sections 5.04(i), 6.05(e), 6.09 and 6.10 (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
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 plus, without duplication,
any Supplemental Interest due on such Remittance Date (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 (v) 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 and 6.10 (to the
extent not included in 5.04(i)) for
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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 plus, without duplication, any Supplemental Interest due on
such Remittance Date (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 August 25, 1997.
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 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 July 25, 1997
and August, 1997 Remittance Dates, Excess Spread shall also include an amount
with respect to the Pre-Funded Amounts 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
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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 July 25, 1997 and August 25, 1997 Remittance Dates, Excess Spread
shall also include an amount with respect to the Pre- Funded Amounts 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.
FINAL ORDER: As defined in Section 6.06(b).
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.
FNMA LOAN: Any Mortgage Loan originated substantially in accordance with
FNMA and FHLMC underwriting guidelines in effect on the date the Mortgage Loan
was originated.
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 August 22, 1997.
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 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) the average of interbank offered rates for six-month
U.S. dollar-denominated deposits in the London market as published in The Wall
Street Journal "Money Rates" table, and as most recently available as of the
date 45 days before such Mortgage Loan Adjustment Date if such date falls on a
Friday or, if such date does not fall on a Friday, then as most recently
available as of the Friday immediately preceding the date 45 days before each
such Mortgage Loan Adjustment Date (the "Six-Month LIBOR Index"). If the
applicable Index becomes unavailable, the Servicer, on behalf of the Trustee,
will select an
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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 $0.00 for Sub-Pool 1, and $0.00
for Sub-Pool 2.
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.
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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 (v) 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; provided, however, that on any Remittance Date on which
Supplemental Interest is due, the Insured Payment to be made pursuant to Section
6.15(b) shall be the amount set forth in such Section 6.15(b).
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 $944,020.05 for Sub-Pool 1, and $1,076,744.65 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
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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.
MANUFACTURED HOME: A manufactured home within the meaning of 42 United
States Code Section 5402(6).
MANUFACTURED HOME LOAN: Any Mortgage Loan which is secured by a first lien
on real estate to which a Manufactured Home has been permanently affixed.
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.
MONTHLY ADVANCE: An advance made by the Servicer pursuant to Section 6.09.
MONTHLY PAYMENT: The scheduled monthly payment or Periodic Payment(s) of
principal and/or interest required to be made by a Mortgagor on the related
Mortgage Loan during any month, 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 of 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.
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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: (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.
MORTGAGOR: The obligor on a Mortgage Note.
MULTIFAMILY LOAN: Any Mortgage Loan which is secured by Multifamily
Property.
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MULTIFAMILY PROPERTY: With respect to a Mortgage Loan, 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 Required Payments with respect to such Sub-Pool
(other than in respect of the Class A Principal Remittance Amount after the
related Cross-Over Date).
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 Mortgage Loan, and at any time, the
per annum rate equal to the related Mortgage Rate less the Servicing Fee Rate.
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
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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. If the Trustee is unable to determine One Month LIBOR
for an Accrual Period, the rate for such Accrual Period shall be One Month LIBOR
as determined for the previous Accrual Period. Notwithstanding the foregoing,
however, One- Month LIBOR for an Accrual Period shall not be based on One-Month
LIBOR for the previous Accrual Period for three consecutive Accrual Periods. If,
under the priorities described above, One-Month LIBOR for an Accrual Period
would be based on One-Month LIBOR for the previous Accrual Period for the second
consecutive Accrual Period, the Trustee shall select a comparable alternative
index (over which the Trustee has no control) used for determining one-month
Eurodollar lending rates that is calculated and published (or otherwise made
available) by an independent third party.
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: $134,446,000.
ORIGINAL CLASS 1A-1 PRINCIPAL BALANCE: $49,800,000.
ORIGINAL CLASS 1A-2 PRINCIPAL BALANCE: $14,500,000.
ORIGINAL CLASS 1A-3 PRINCIPAL BALANCE: $24,200,000.
ORIGINAL CLASS 1A-4 PRINCIPAL BALANCE: $13,000,000.
ORIGINAL CLASS 1A-5 PRINCIPAL BALANCE: $32,946,000.
ORIGINAL CLASS 2A PRINCIPAL BALANCE: $167,554,000.
ORIGINAL POOL PRINCIPAL BALANCE: $213,894,091.49, equal to the sum of the
Original Sub-Pool 1 Principal Balance and the Original Sub-Pool 2 Principal
Balance.
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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 $40,937,753.72 for Sub-Pool 1, and $52,861,851.87 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
$94,729,249.31.
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
$119,164,842.18.
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.
PERCENTAGE INTEREST: With respect to a Class 1A-1, Class 1A-2, Class 1A-3,
Class 1A-4, Class 1A-5 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 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 (the "Six-Month LIBOR Loans"), to not more than one percentage
point, or, with respect to the Six-Month LIBOR Loans which are
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subject to an adjustment after an initial twenty-four month period, increase to
not more than two percentage points on the initial Adjustment Date only.
PERIODIC PAYMENT: With respect to any Periodic Payment Loan, as of any date
of determination, the scheduled payment of principal and/or interest required to
be made by a Mortgagor as set forth in the related Mortgage Note.
PERIODIC PAYMENT LOANS: Any Mortgage Loan that provided, on the date of
origination, for Periodic Payments to be made every twenty-eight (28) days.
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, 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;
(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
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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.
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.
PREFERENCE AMOUNT: As defined in Section 6.06(b).
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 1.2% 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, 26% per annum each
month. With respect to Sub-Pool 2, an assumed constant rate of prepayment equal
to 26% per annum.
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
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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, the principal portion of any
Periodic Payment deferred and subsequently forgiven 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, as supplemented,
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).
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 Mortgaged Property 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
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(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).
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).
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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 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 July
25, 1997.
RENTS FROM REAL PROPERTY: With respect to any REO Property relating to a
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 and at
any time, the overcollateralization amount required by the Certificate Insurer
and set forth as the "Required Overcollateralization Amount" 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 if 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
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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 or a manufactured home.
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 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: 1997-2.
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.
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SERVICING COMPENSATION: The Servicing Fee and other amounts to which the
Servicer is entitled pursuant to Section 7.03. The Servicer's right to Servicing
Compensation may be reduced as set forth in Section 6.10.
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 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
individual condominium unit, manufactured home, or unit in a planned unit
development.
S&P: Standard & Poor's Ratings Services, A Division of the McGraw-Hill
Companies, Inc., or any successor thereto.
SPECIAL POWER OF ATTORNEY: As defined in Section 2.04(f).
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.
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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 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 MIXED USE LOAN: Any 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
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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.
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, and Sub-Pool 2 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 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.
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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.
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
August 22, 1997.
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
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(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 of the Principal Balances, together
with accrued and unpaid interest thereon to the date of substitution, of the
related Deleted Mortgage Loans.
SUPPLEMENTAL INTEREST: With respect to each Sub-Pool, on any Determination
Date on which the weighted average of the related Net Mortgage Rates, net of the
rate at which the Annual Trustee Expense is calculated and the Premium
Percentage, is less than any related Class A Pass-Through Rate, that amount
equal to the excess of (i) the related Class A Interest Remittance Amounts for
the immediately following Remittance Date, over (ii) the amount of interest due
on the related Mortgage Loans during the related Due Period net of the Servicing
Fee, the Annual Trustee Expense Amount, and any Monthly Premium payable to the
Certificate Insurer on the immediately following Remittance Date.
SUPPLEMENTAL INTEREST ACCOUNT: The Account established and maintained
pursuant to Section 6.15, as required by the Certificate Insurer and which must
be an Eligible Account.
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 May 2002, 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
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$10,134,325 or (ii) with respect to any Determination Date occurring prior to
May 2007, 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 thereto exceeds $13,512,434.
With respect to Sub-Pool 2, a trigger event shall occur if (i) with respect
to any Determination Date occurring prior to May 2002, 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 $10,682,858 or (ii) with respect to any
Determination Date occurring prior to May 2007, 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
$14,243,811.
TRUST: AFC Mortgage Loan Asset Backed Certificates, Series 1997-2.
TRUST FUND: Collectively, Sub-Pool 1 and Sub-Pool 2.
TRUST FUND REMIC: The Trust Fund, exclusive of the Interest Coverage
Accounts and Supplemental Interest Accounts, if established pursuant to Section
6.15.
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
whose income is subject to United States federal income tax regardless of its
source, or a trust if a court within the United States is able to exercise
primary supervision over the administration of the trust and one or more United
States fiduciaries have the authority to control all substantial decisions of
the trust.
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 to receive principal not previously covered by an
Insured Payment), (c)(vi) and (c)(viii) of the
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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 August 25, 1997), 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 (xi)
and 6.06(c)(A)(Y)(vii) through (xi) 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 and Class 1A-5 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 and the Class 1A-5 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 Certificate-holders 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 June 1, 1997, Series 1997-2,] without
recourse" and signed, by facsimile or manual signature, by such last endorsee.
With respect to the Mortgage Loans numbered, 25908, 28282, 51292, 60574, 62166
and 56598, the original Mortgage Note referred to above cannot be located; the
obligations of the Depositor to deliver such documents shall be deemed to be
satisfied upon delivery to the Trustee of a photocopy of the original thereof
with a lost note affidavit;
(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 and, with respect to a Manufactured Home Loan, a manufactured
housing unit (American Land Title
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Association 7) endorsement from the title insurer stating that the insurer
agrees that the related manufactured housing unit is included within the term
"land" when used in such title policy;
(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 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 financing
statement, certified by an
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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 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 1997-2, under the Pooling and Servicing
Agreement, dated as of June 1, 1997" 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 (which opinion shall be delivered to the Certificate Insurer
within the 45-day or 30-day period, as applicable, specified herein), 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 1997-2,
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. Any such Assignment of
Mortgage that is not required to be recorded pursuant to this paragraph shall be
delivered by the Depositor to the Trustee within such 45-day period. Each such
Assignment of Mortgage delivered by the Depositor to the Trustee shall, subject
to receipt of the original recorded Mortgage as described above, be in
recordable form. Within such 45-day period, the Depositor also shall deliver to
the Trustee an original executed power of attorney ("Special Power of
Attorney"), substantially in the form of Exhibit K, with respect to the
Assignments of Mortgage that are not required to be recorded under this
paragraph, authorizing the Trustee to record the Assignments of Mortgage if
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necessary or advisable to protect the interests of the Certificateholders and
the Certificate Insurer. Pursuant to such power of attorney, the Trustee also
may execute a new Assignment of Mortgage for any Mortgage Loan if the original
Assignment of Mortgage delivered by the Depositor to the Trustee is not in
recordable form at such time as the Assignment of Mortgage is to be recorded by
the Trustee.
Within 45 days after the Closing Date, the Servicer shall complete any
UCC-2 or UCC-3 financing statements with respect to the 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 1997-2, under the Pooling and Servicing Agreement, dated as
of June 1, 1997." 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
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 (iv)(B) in the second preceding paragraph. 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
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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 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
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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 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 July 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.
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Section 2.06 [Reserved].
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 Subsequent Mortgage Loans to be delivered pursuant to Section 2.04 above
and the other items
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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 below in the related Subsequent
Transfer Instrument;
(vii) the Depositor shall have delivered to the Trustee and the
Certificate Insurer 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
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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 8.50%; (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 October 1997. 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 10.95%; (ii) have a weighted average remaining term to stated maturity of
not more than 265 months and not less than 185 months; (iii) have a weighted
average Combined Loan-to-Value Ratio of not more than 80%; (iv) have not in
excess of 48% by aggregate principal balance of Sub-Pool 1 Mortgage Loans that
are Balloon Mortgage Loans; (v) have no Sub-Pool 1 Mortgage Loan with a
principal balance in excess of $850,000; (vi) not have in excess of 15% by
aggregate principal balance of Sub-Pool 1 Mortgage Loans secured by non-owner
occupied Mortgaged Properties; (vii) not have a concentration of Mortgaged
Properties in a single zip code in excess of 4% 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 Loans secured by Mortgaged Properties
that are condominiums; (ix) have at least 74% 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 planned unit
developments); (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; (xi) not have in excess of 5% by aggregate principal balance of
Sub-Pool 1 Mortgage Loans secured by Manufactured Homes;
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and (xii) not have in excess of 10% by aggregate principal balance of Sub-Pool 1
Mortgage Loans that are Periodic Payment Loans. The Certificate Insurer may, in
its reasonable discretion, reject for purchase by the Trust Fund a proposed
Sub-Pool 1 Subsequent Mortgage Loan which the Certificate Insurer reasonably
believes would adversely affect the interests of the Certificateholders or the
Certificate Insurer in the Mortgage Pool if included therein; provided that the
Certificate Insurer may, in its reasonable discretion, choose to accept such
proposed Sub-Pool 1 Mortgage Loan for purchase upon the Depositor depositing an
amount determined by the Certificate Insurer in the Reserve Account with respect
to such proposed Sub-Pool 1 Subsequent Mortgage Loan. In the sole discretion of
the Certificate Insurer, Sub-Pool 1 Subsequent Mortgage Loans with
characteristics varying from those set forth in this paragraph 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%; (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 October 1997. 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 5.25% and a weighted average coupon of at least 9.65%; (ii) have a
weighted average remaining term to stated maturity of not more than 356 months
and not less than 350 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 $850,000; (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 6% by aggregate principal balance of
Sub-Pool 2 Mortgage Loans secured by Mortgaged Properties that are condominiums;
(viii) have at least 76% by aggregate principal balance of Sub-Pool 2 Mortgage
Loans secured by fee simple interests in attached or detached Single Family
Properties
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(including units in de minimis planned unit developments); (ix) not have in
excess of 10% by aggregate principal balance of the Sub-Pool 2 Mortgage Loans
secured by Multifamily Properties; (x) will not be secured by Mixed Use
Properties and (xi) not have in excess of 5% by aggregate principal balance of
the Sub-Pool 2 Mortgage Loans secured by Manufactured Homes. The Certificate
Insurer may, in its reasonable discretion, reject for purchase by the Trust Fund
a proposed Sub-Pool 2 Subsequent Mortgage Loan which the Certificate Insurer
reasonably believes would adversely affect the interests of the
Certificateholders or the Certificate Insurer in the Mortgage Pool if included
therein; provided that the Certificate Insurer may, in its reasonable
discretion, choose to accept such proposed Sub-Pool 2 Mortgage Loan for purchase
upon the Depositor depositing an amount determined by the Certificate Insurer in
the Reserve Account with respect to such proposed Sub-Pool 2 Subsequent Mortgage
Loan. In the sole discretion of the Certificate Insurer, Sub-Pool 2 Subsequent
Mortgage Loans with characteristics varying from those set forth in this
paragraph 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 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
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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 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
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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 and does not
constitute other than real property under state law;
(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;
(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;
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(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 or a
manufactured housing unit (American Land Title Association 7) endorsement
(stating that the issuer agrees that the related manufactured housing unit
is included with the term "land" when used in the title policy), 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;
(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;
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(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;
(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
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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 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 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 negative
amortization. Except with respect to certain of the Periodic Payment Loans,
no Mortgage Loan provides for deferred interest. 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
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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 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
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(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 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.
(xxxx) As of the Cut-off Date, no more than 5% of the Original Pool
Principal Balance are Mortgage Properties located in Maryland subject to
ground leases.
(xxxxi) As of the Cut-off Date, no payment on any FNMA Loan was
delinquent 60 or more days (three or more payments missed) during the
twelve month period prior to the Cut-off Date.
(xxxxii) Each of the Manufactured Homes is a "single residence" which
has a minimum of 400 square feet of living space and a minimum width in
excess of 102 inches and which is of a kind customarily used at a fixed
location.
(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
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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) Approximately 33.43% of the Original Sub-Pool 1 Principal Balance
are balloon loans (including interest only Periodic Payment Loans which
provides for a balloon payment). Approximately 31.98% of the Original
Sub-Pool 1 Principal Balance are balloon loans which 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. Approximately 1.45% of the Original Sub-Pool 1
Principal Balance are balloon loans which provide for payments of interest
only throughout the term of the loan with a single payment of principal
equal to the original principal balance of the loan due upon the final
maturity date of the related Mortgage Note. Mortgage Loans constituting
approximately 4.47% of the Original Sub-Pool 1 Principal Balance are
Periodic Payment Loans which provide either that (i) the related Mortgagor
may, at its option, defer the principal portion of any or all of 26
Periodic Payments due thereunder or (ii) the related Mortgagor may, at its
option, defer the first Periodic Payment due thereon together with interest
accrued from the date of origination through the end of the month in which
origination occurs and under certain limited circumstances, such payment
will be forgiven on the final maturity date of the Mortgage Note. 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 approximately 1.62% of the Original Sub-Pool 1
Principal Balance is secured by Mortgaged Properties located within any
single zip code area;
(v) Approximately 92.30% of the Original Sub-Pool 1 Principal Balance
is secured by Mortgaged Properties that are maintained by the Mortgagors as
primary residences, and approximately 92.62% of the Original Sub-Pool 1
Principal Balance is secured by Owner-Occupied Mortgaged Property;
(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
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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 74.41% 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 as of the Cut-off Date is not less than
approximately 6.25% and not more than approximately 18.00%;
(xii) As of the Cut-off Date, no payment on any Mortgage Loan is 30
days or more delinquent (two or more payments missed); and
(xiii) Approximately 79.96% of the Original Sub-Pool 1 Principal
Balance is secured by attached or detached one-family dwelling units (not
including Manufactured Homes). Approximately 1.70% of the Original Sub-Pool
1 Principal Balance is secured by units in condominiums. Approximately
1.57% of the Original Sub-Pool 1 Principal Balance is secured by
Manufactured Homes. No more than approximately 11.26% of the Original
Sub-Pool 1 Principal Balance is secured by units in properties consisting
of two- to four-family dwelling units. Approximately 1.93% of the Original
Sub-Pool 1 Principal Balance is secured by units in a planned unit
development. Approximately 2.29% of the Original Sub-Pool 1 Principal
Balance is secured by Multifamily Properties, and no more than
approximately 1.29% 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 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
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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 26.33%
of the Original Sub-Pool 2 Principal Balance is subject to a One Year
Treasury Index, and approximately 73.67% 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,
twelve-month, twenty-four month or thirty-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 approximately 1.47% of the Original Sub-Pool 2
Principal Balance is secured by Mortgaged Properties located within any
single zip code area;
(iv) 95.96% of the Original Sub-Pool 2 Principal Balance is secured by
Mortgaged Properties that are maintained by the Mortgagors as primary
residences, and approximately 96.73% of the Original Sub-Pool 2 Principal
Balance is secured by Owner Occupied Mortgaged Property;
(v) Approximately 80.90% of the Original Sub-Pool 2 Principal Balance
is secured by attached or detached one-family dwelling units (not including
Manufactured Homes). Approximately 3.38% of the Original Sub-Pool 2
Principal Balance is secured by units in condominiums. No more than
approximately 10.90% of the Original Sub-Pool 2 Principal Balance is
secured by units in properties consisting of two- to four-family dwelling
units. Approximately 0.36% of the Original Sub-Pool 2 Principal Balance is
secured by Multifamily Properties. Approximately 4.76% of the Original
Sub-Pool 2 Principal Balance is secured by units in planned unit
developments. Approximately 0.51% of the Original Sub-Pool 2 Principal
Balance is secured by Manufactured Homes. Approximately 11.83% of the
Original Sub-Pool 2 Principal Balance is secured by investor properties.
None of the Sub-Pool 2 Mortgage Loans are secured by 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 approximately
1.875% to 8.750% and the weighted average Gross Margin as of the Cut-off
Date is approximately 5.531%;
(viii) Approximately 65.50% 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 5.500% per annum to 14.375% and the weighted average
Mortgage Rate as of the Cut-off Date is 10.045% per annum;
(x) Each Mortgage Loan that was originated on or after April 18, 1985
has an initial or next Adjustment Date no later than June 1, 1999;
(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). One Mortgage Loan
has been contractually delinquent (two payments missed) on one occasion
prior to the Cut-off Date.
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 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
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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 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.
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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, S&P and the Certificate
Insurer 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 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 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
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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 (vi)
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.
(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."
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(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 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
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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 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
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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 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
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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.
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 Sub-Pool 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 June 1, 1997, Series 1997-2" 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 June 1, 1997, Series 1997-2" with
respect to those Mortgage Notes currently endorsed "Pay to the order of holder",
if any.
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(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 Treasury regulations,
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
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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 Sub-Pool, 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 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
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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 1997-2" 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 1997-2." 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
Instruments. 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 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;
(iii) all Net Liquidation Proceeds;
(iv) all Insurance Proceeds;
(v) all Released Mortgaged Property Proceeds;
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(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 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 except at such times as Supplemental Interest is due. 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 amounts set forth in clause (i) of the
definition of Available Remittance Amount. 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;
(ii) to reimburse itself for any accrued unpaid Servicing Fees,
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). 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
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to reimbursement from Liquidation Proceeds for Monthly Advances made
pursuant to Section 6.09(c) or Section 6.09(d), 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 Preference Amount by a trustee
in bankruptcy pursuant to the United States Bankruptcy Code in accordance
with a final, nonap- pealable 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;
(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
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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 1997-2." 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.
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.
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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 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
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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 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
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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
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 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
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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 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
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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.
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 lien- holder 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 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
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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 1997-2" 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 1997-2." With respect to each Sub-Pool,
the Trustee shall, promptly upon receipt, deposit in the related Certificate
Account and retain therein:
(i) the portion of the related Available Remittance Amount remitted by
the Servicer pursuant to Section 5.04(i) above;
(ii) the related Monthly Advance, the related Compensating Interest
and the related Supplemental 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 amounts required to be deposited in the related Certificate
Account pursuant to Sections 6.13(b), 6.13(c) and 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:
(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);
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(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 1997-2", 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 1997-2." 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 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
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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;
(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
July 25, 1997 (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
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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).
(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 and the Reserve Accounts, the Depositor, in the case of the Interest
Coverage Accounts 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.
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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 A to the Certificate Insurance Policy (the "Notice") indicating
that an Insured Payment is necessary. 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, other
than amounts representing Supplemental Interest, 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).
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 portion or all of any amount that is
insured by the Certificate Insurer under the Certificate Insurance Policy is
voided pursuant to a final order of a court exercising proper jurisdiction in an
insolvency proceeding to the effect that the Trustee or the Class A
Certificateholder, as the case may be, is required to return any such payment or
portion thereof prior to the expiration date of the Certificate Insurance Policy
because such payment was voided under the U.S. Bankruptcy Code, with respect to
which order the appeal period has expired without an appeal having been filed (a
"Final Order"), and, as a result, the Trustee or any Class A Certificateholder
is required to return such voided payment, or any portion of such voided payment
made in respect of the Class A Certificates (a "Preference Amount"), the
Certificate Insurer will pay an amount equal to each such Preference Amount, on
the second Business Day following receipt by the Certificate Insurer of (x) a
certified copy of the Final Order, (y) an assignment, in form reasonably
satisfactory to the Certificate Insurer, irrevocably assigning to the
Certificate Insurer all rights and claims of the Trustee and/or such Class A
Certificateholder relating to or arising under such Preference Amount and
appointing the Certificate Insurer as the agent of the Trustee and/or such Class
A Certificateholder in respect of such Preference Amount, and (z) a Notice
appropriately completed and executed by the Trustee or such Class A
Certificateholder, as the case may be. Such
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payment shall be made to the receiver, conservator, debtor-in-possession or
trustee in bankruptcy named in the Final Order and not to the Trustee or Class A
Certificateholder directly (unless a Class A Certificateholder has previously
paid such amount to such receiver, conservator, debtor-in-possession or trustee
named in such Final Order in which case payment shall be made to the Trustee for
distribution to the Class A Certificateholder upon proof of such payment
reasonably satisfactory to the Certificate Insurer). Notwithstanding the
foregoing, in no event shall the Certificate Insurer be (i) required to make any
payment under the Certificate Insurance Policy in respect of any Preference
Amount to the extent such Preference Amount is comprised of amounts previously
paid by the Certificate Insurer thereunder, or (ii) obligated to make any
payment in respect of any Preference Amount, which payment represents a payment
of the principal amount of the Class A Certificates, prior to the time the
Certificate Insurer otherwise would have been required to make a payment in
respect of such principal.
Each Class A Certificateholder, by its purchase of the Class A
Certificates, the Servicer and the Trustee hereby agree that the Certificate
Insurer may at any time during the continuation of any proceeding relating to a
preference claim direct all matters relating to such preference claim,
including, without limitation, the direction of any appeal of any order relating
to such preference claim and the posting of any surety, supersedeas or
performance bond pending any such appeal. In addition and without limitation of
the foregoing, the Certificate Insurer shall be subrogated to the rights of the
Servicer, the Trustee and each Class A Certificateholder in the conduct of any
such preference claim, including, without limitation, all rights of any party to
an adversary proceeding action with respect to any court order issued in
connection with any such preference claim.
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 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
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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:
(X) If the Remittance Date is prior to the Cross-Over Date, the
Trustee shall distribute the indicated amounts in the following order of
priority:
(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:
(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;
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(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-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 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 (v)
above; and
(B) the Class 1A-5 Lockout Remittance Amount;
(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
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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 balance of the related Class A Principal Remittance
Amount after payments described in clause (X)(vi) above;
(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 balance of the related Class A Principal Remittance
Amount after payments described in clauses (X)(vi) and (vii)
above;
(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:
(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 balance of the related Class A Principal Remittance
Amount after payments described in clauses (X)(vi) through (viii)
above;
(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
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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 balance of the related Class A Principal Remittance
Amount after payments described in clauses (X)(vi) through (ix)
above;
(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 balance of the related Class A Principal Remittance
Amount after payments described in clauses (X)(vi) through (x)
above;
(xii) 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 (xi)
above and any accrued and unpaid Annual Trustee Expense Amount with
respect to Sub-Pool 1;
(xiii) 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
(xii) above; and
(B) the Additional Principal with respect to Sub-Pool 1;
(xiv) 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:
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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
(xiii) above; and
(B) the Additional Principal with respect to Sub-Pool 1;
(xv) 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
(xiv) above; and
(B) the Additional Principal with respect to Sub-Pool 1;
(xvi) 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
(xv) above; and
(B) the Additional Principal with respect to Sub-Pool 1;
(xvii) 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
(xvi) above; and
(B) the Additional Principal with respect to Sub-Pool 1;
(xviii) 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 (xvii)
above and any expenses incurred in connection with any third party
claims that remain unreimbursed;
(xix) 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 (xviii) 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
(xx) to the Class R Certificateholders, the balance of the Amount
Available with respect to Sub-Pool 1, if any, after payments described
in clauses (X)(i) through (xix) above.
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(Y) 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:
(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 (Y)(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 (Y)(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 (Y)(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 (Y)(i) through
(iv) 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-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 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 (v) above; and
(B) the Class 1A-5 Lockout Remittance Amount;
(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 balance of the related Class A Principal Remittance
Amount after payments described in clause (Y)(vi) above;
(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 balance of the related Class A Principal Remittance
Amount after payments described in clauses (Y)(vi) and (vii)
above;
(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
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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 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 balance of the Class A Principal Remittance Amount
after payments described in clauses (Y)(vi) through (viii) above;
(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 balance of the related Class A Principal Remittance
Amount after payments described in clauses (Y)(vi) through (ix)
above;
(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 balance of the related Class A Principal Remittance
Amount after payments described in clauses (Y)(vi) through (x)
above;
(xii) 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
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described in clauses (Y)(i) through (xi) above and any accrued and
unpaid Annual Trustee Expense Amount with respect to Sub-Pool 1;
(xiii) 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 (xii)
above and any expenses incurred in connection with any third party
claims that remain unreimbursed;
(xiv) 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 (xiii) 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
(xv) 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:
(X) If the Remittance Date is prior to the Cross-Over Date, the
Trustee shall distribute the indicated amounts in the following order of
priority:
(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 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;
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(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
(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.
(Y) 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:
(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
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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 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
(xi) and 6.06(c)(A)(Y)(i) through (xi) 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 August 25, 1997 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.
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(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.
(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 (v) 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)
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through (v) 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.
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;
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(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;
(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, (a) 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 and the portion of which, if any, represents Supplemental
Interest, (b) the amount, if any, of previously unreimbursed Insured
Payments, separately identified with respect to previously unreimbursed
Supplemental Interest and (c) 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;
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(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;
(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 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 August 25, 1997
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) The amount on deposit in the Reserve Account for such Remittance
Date and the amount, if any, to be released to the Class R
Certificateholders from the Reserve Account pursuant to Section 6.14(c);
(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; and
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(xxvii) The aggregate unpaid principal balance of all delinquent
Mortgage Loans repurchased by the Servicer on any Determination Date and
cumulatively since the Closing Date pursuant to Section 5.11.
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 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
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Class A Certificateholders to comply with applicable regulations of the
FDIC or other regulatory authorities with respect to investment in the
Class A Certificates.
(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 a Mortgage Loan with a delinquent Balloon Payment, an amount
equal to the assumed interest portion of the aggregate amount of the Monthly
Payment that would have been due on 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) based on the original
amortization schedule for such Mortgage Loan, plus (d) 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 (e) 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) or Section 6.09(d) above, then
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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
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(d) above shall be mandatory, and each
successive Monthly Advance pursuant to Section 6.09(d) and Section 6.09(e) above
shall be made if and to the extent the Servicer has reimbursed itself for
amounts previously advanced pursuant to such Sections 6.09(d) and 6.09(e), as
the case may be.
Section 6.10 Compensating Interest and Supplemental 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), an amount equal to the
difference between (a) 30 days' interest on the Principal Balance of each such
Mortgage Loan (other than a Periodic Payment Loan) or 28 days interest on the
Principal Balance of each such Periodic Payment 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. In addition, on each Determination Date on which Supplemental Interest
is calculated to be due, any Servicing Compensation remaining after application
thereof to pay Compensating Interest shall be applied to the payment of such
Supplemental Interest by remitting such amounts to the Trustee for deposit into
the Supplemental Interest Account.
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 1997-2 and with respect to Sub-Pool 2, "Sub-Pool 2 Pre-
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Funding Account, LaSalle National Bank, as trustee for the registered holders of
AFC Mortgage Loan Asset Backed Certificates, Series 1997-2." 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 August
25, 1997 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
to purchase Subsequent Mortgage Loans, the related Pre-Funding Account will be
an asset of the Trust Fund REMIC. Amounts on deposit in the related Pre-Funding
Account shall not be invested.
(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 August 25, 1997 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 August 25, 1997 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
1997-2" 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 1997-2." The Trustee shall, promptly upon
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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, 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 July 25, 1997 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 11.372%
with respect to Sub-Pool 1 and 10.045% 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 August 25, 1997 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
July 1, 1997 at an annual rate equal to 11.372% with respect to Sub-Pool 1 and
10.045% 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) 11.372% with respect to
Sub-Pool 1 and 10.045% 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
August 25, 1997 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 August
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
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set forth in a written letter of instruction by the Servicer to the Trustee, or
(v) termination of 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 1997-2" 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
1997-2." 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 August 25, 1997
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 August 25, 1997 Remittance Date. If the
Certificate Insurer does not so direct the Trustee on or before the August 25,
1997 Remittance Date, then the balance of each Reserve Account shall be
distributed by the Trustee to the Class R Certificateholders on the September
25, 1997 Remittance Date.
(c) With respect to each Sub-Pool and on and after the August 25, 1997
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 after any applications of Excess Spread 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 after any
applications of Excess Spread;
(ii) to release to the Class R Certificateholders, on each Remittance
Date on which the sum of the Overcollateralization Amount for a Sub-Pool
and the amount on deposit in the related Reserve Account exceeds the
Required Overcollateralization Amount for such Sub-Pool, the lesser of (i)
the amount, if any, remaining in the Reserve
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Account and (ii) such excess, after giving effect to all payments to be
made on the related Class A Certificates on such Remittance Date,
and also, in no particular order of priority:
(iii) to invest amounts on deposit in the related Reserve Account in
Permitted Instruments pursuant to Section 6.05 above; and
(iv) 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 A Certificates and if necessary, 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 1997-2". 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) With respect to each Sub-Pool, on any Determination Date on which
Supplemental Interest is calculated to be due, the Trustee shall furnish the
Certificate Insurer and the Servicer with a completed Notice, in accordance with
Section 6.06(b), indicating that an Insured Payment is necessary equal to that
amount of Supplemental Interest remaining due, if any, after application, if
any, of the Servicing Compensation pursuant to Section 6.10. Upon receipt of
such Insured Payment, the Trustee shall deposit such Supplemental Interest in
the Supplemental Interest Account. Funds deposited in the Supplemental Interest
Account shall be held in trust by the Trustee for the Class A Certificateholders
for the uses and purposes set forth herein.
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(c) On each Remittance Date following the receipt of Supplemental Interest,
the Trustee shall withdraw the Supplemental Interest from the Supplemental
Interest Account and make distributions thereof to the related Class A
Certificateholders in the same order of priority set forth in Section 6.06(c)
above with respect to the distribution of Class A Interest Remittance Amounts.
(d) On any Remittance Date, the Certificate Insurer shall be reimbursed to
the extent of any Supplemental Interest paid and not previously reimbursed by
(i) the assignment of payments otherwise payable to the Class R
Certificateholders on such Remittance Date, and (ii) the assignment of amounts
otherwise payable to the Servicer and/or Depositor to reimburse the Servicer
and/or the Depositor for any expenses incurred in connection with any third
party claims that remain unreimbursed, any Nonrecoverable Servicing Advances and
any Nonrecoverable Monthly Advances, each with respect to Sub-Pool 1. All
amounts payable to the Certificate Insurer pursuant to this Section 6.15(d)
shall be paid by the Trustee directly to the Certificate Insurer.
Section 6.16 Compliance with Withholding Requirements.
Notwithstanding any other provision of this Agreement, the Trustee shall
comply with all federal withholding requirements respecting payments to
Certificateholders of interest or original issue discount that the Trustee
reasonably believes are applicable under the Code. The consent of
Certificateholders shall not be required for such withholding. In the event the
Trustee does withhold any amount from interest or original issue discount
payments or advances thereof to any Certificateholder pursuant to federal
withholding requirements, the Trustee shall indicate the amount withheld to such
Certificateholders.
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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.
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,
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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 June 1, 1997,
Series 1997-2" 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 June
1, 1997, Series 1997-2" 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 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
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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
5.03 and Section 6.10 (pursuant to which Servicing Compensation is reduced), 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 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
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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, 1998, 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 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 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. 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
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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;
(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,
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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;
(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
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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 by the Certificate Insurer or
to the Servicer, the Trustee and the Certificate Insurer by any
Certificateholder; or
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(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
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
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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 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
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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, 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)(xviii) and (xix) or 6.06(c)(A)(Y)(xiii) and (xiv) 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 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
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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. 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
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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, on any date on which the Pool
Principal Balance is less than or equal to 5% of the sum of the Original Pool
Principal Balance and the Original Pre-Funded Amounts, by purchasing, on the
next succeeding Remittance Date, all of the outstanding Mortgage Loans and REO
Properties at a price (the "Termination Price") equal to the excess, if any, of
(1) the sum of (x) (i) 100% of the Principal Balance of each outstanding
Mortgage Loan, and (ii) 30 days' interest on the amount described in clause (x)
at a rate equal to the related Net Mortgage Rate; but in no event less than the
sum of the weighted average of the Class 1A Pass-Through Rates, with respect to
Sub-Pool 1, or the Class 2A Pass-Through Rate, with respect to Sub-Pool 2, and
(y) the appraised value of each REO Property, such appraisal to be conducted by
an appraiser mutually agreed upon by the Servicer and the Trustee in their
reasonable discretion (and approved by the Certificate Insurer in its reasonable
discretion), over (2) the amounts (other than the Termination Price being
calculated pursuant to this paragraph) that will constitute the Available
Remittance Amount 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 of principal not yet
applied to reduce the related Principal Balance thereof or interest therein at
the related Net Mortgage 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 also pay (a) 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 and (b) to the Certificate Insurer that amount
necessary to reimburse the Certificate Insurer for any previously unreimbursed
Supplemental Interest paid.
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
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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.
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
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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 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
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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;
(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,
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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(a)(i)(A) or
10.01(a)(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 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
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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 reisolution, 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;
(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,
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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 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.
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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.
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
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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.
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
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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 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.
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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 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
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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.
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.
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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 and Class 2A Certificates shall be designated as
the "regular interests", the Class 1A-4 and Class 1A-5 (exclusive of the right
to receive Supplemental Interest) shall be designated as "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)-1(a). 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.
(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
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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 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
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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, 1998,
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 June 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
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.
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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", "contributions" or, except as
otherwise provided for in this Agreement, "net income from foreclosure property"
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 to consent to any
such amendment without the consent of the Holders of 100% of each Class of
Certificates affected thereby.
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(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 Certificate Insurer or 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.
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
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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 1996-4, (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
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.
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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.
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:
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(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 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.
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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 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.
-154-
<PAGE>
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 __th day of June, 1997 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 __th day of June, 1997 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 __th day of June, 1997 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 June 1,
1997, Series 1997-2] 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.
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, and, with respect to a
Manufactured Home Loan, a manufactured housing unit (American
Land Title Association 7) endorsement from the title insurer
stating
<PAGE>
that the insurer agrees that the related manufactured housing
unit is included within the term "land" when used in the title
policy.
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 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 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
-2-
<PAGE>
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.
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.
-3-
<PAGE>
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 1997-2 Original Class 1A
Class 1A[-1][-2][-3][-4][-5] Principal Balance:
No._______________ $-----------.
Date of Pooling and Original Dollar Amount as of the Closing
Servicing Agreement: Date Represented by this Certificate:
June 1, 1997 $---------------.
Servicer: Percentage Interest of
Lee Servicing Company, a this Certificate:
division of Superior Bank %
FSB
First Remittance Date: Original Sub-Pool 1 Principal
July 25, 1997 Balance: $_____________
Closing Date: Original Sub-Pool 1 Pre-Funded Amount:
June 25, 1997 $___________
Class 1A[-1][-2][-3][-4] Latest Scheduled Maturity Date of the Class
[-5] A Certificates:
Pass-Through Rate: ___________ 1, 20__
[variable][____%]
CUSIP #: 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
1A[-1][-2][-3][-4][-5] Certificates of the above referenced series (the "Class
1A[-1][-2][-3][-4][-5] 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 June 1,
1997 (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 1
Initial Mortgage Loans is June 1, 1997. To the extent not defined herein, the
capitalized terms used herein have the meanings assigned in the Agreement.
<PAGE>
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 July 25, 1997, 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] Certificates on such Remittance Date
pursuant to Section 6.06 of the Agreement. Notwithstanding the foregoing, 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.
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 1A[-1][-2][-3]][-4][-5] Certificate referred to in the
within-mentioned Agreement.
LASALLE NATIONAL BANK, as Certificate Registrar
By:
-------------------------------------------
Authorized Officer
-3-
<PAGE>
EXHIBIT B-2
[FORM OF CLASS 2A CERTIFICATE]
[DTC LEGEND]
AFC Mortgage Loan Asset Backed Certificate
Series 1997-2 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: $_____________.
June 1, 1997 Percentage Interest of
this Certificate:
Servicer: %
Lee Servicing Company, a
division of Superior Bank Original Sub-Pool 2 Principal
FSB Balance: $______________
First Remittance Date: Original Sub-Pool 2 Pre-Funded Amount:
July 25, 1997 $_____________.
Closing Date: Latest Scheduled Maturity Date of the Class
June 25, 1997 A Certificates:
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 June 1,
1997 (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 June 1, 1997. 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.
<PAGE>
On each Remittance Date, commencing on July 25, 1997, 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. Notwithstanding the foregoing, the initial distribution
on all Classes of Certificates other than the Class 1A-1 Certificates and the
Class 2A Certificates will be made to the Certificateholders of record as of the
Closing Date.
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
-3-
<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
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
<PAGE>
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 1997-2 Percentage Interest of
Class R this Certificate:
%
No._______________
Date of Pooling and Original Pool Principal Balance:
Servicing Agreement: $________________.
June 1, 1997
Original Pre-Funded Amount:
Servicer: $___________.
Lee Servicing Company, a
division of Superior Bank FSB Trustee: LaSalle National Bank
First Remittance Date: Closing Date:
July 25, 1997 June 25, 1997
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 June 1,
1997 (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 June 1, 1997. 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.
On each Remittance Date, commencing on July 25, 1997, 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. Notwithstanding the foregoing, the initial
distribution on all Classes of Certificates other than the Class 1A-1
Certificates and the Class 2A Certificates will be made to the
Certificateholders of record as of the Closing Date.
-2-
<PAGE>
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 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.
-3-
<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
-4-
<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 1997-2, Class
1A-1, Class 1A-2, Class 1A-3, Class 1A-4, Class 1A-5, 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 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, the Supplemental Interest, if any, 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.
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 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
<PAGE>
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 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 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
-2-
<PAGE>
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 at the time of purchase being less than five percent (5%) of
the sum of the Pool Principal Balance and the Original Pre-Funded Amounts, 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 June
1, 1997, 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 1997-2." "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 1997-2." 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 1997-2, dated as of June 1, 1997 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:
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
<PAGE>
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.
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.
-2-
<PAGE>
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 June 1, 1997, 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 1997-2 (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:
a. The Assignee agrees to be bound, as Certificateholder, by the
restrictions on transfer contained in the Pooling and Servicing Agreement;
and
<PAGE>
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
1997-2, Class ___, No. __, issued pursuant to that
certain Pooling and Servicing Agreement, dated as of
June 1, 1997, 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 June 1,
1997 (the "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
-----------------------------------------------------
Gentlemen:
In accordance with Section 2.05 of the 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 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 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 June 1,
1997 (the "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
-----------------------------------------------------
Gentlemen:
In accordance with the provisions of Section 2.05 of the 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)[, except as set forth on
Attachment A hereto], (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[, except
as set forth on Attachment A hereto], (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[, except as set forth on Attachment A
hereto] and (iv) each Mortgage Note has been endorsed as provided in Section
2.04 of the Pooling and Servicing Agreement[, except as set forth on Attachment
A hereto]. The Trustee has made no independent examination of such documents
beyond the review specifically required in the 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 Mortgage Loans identified on the related
Mortgage Loan Schedule, or (ii) the collectability, insurability, effectiveness
or suitability of any such Mortgage Loan.
<PAGE>
Capitalized words and phrases used herein shall have the respective
meanings assigned to them in the 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 June 1, 1997
(the "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 1997-2
------------------------------------------------------------
Gentlemen:
In accordance with Section 2.05 of the 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 Mortgage Loans identified on the related Mortgage Loan Schedule, or
(ii) the collectability, insurability, effectiveness or suitability of any such
Mortgage Loan.
<PAGE>
Capitalized words and phrases used herein shall have the respective
meanings assigned to them in the Pooling and Servicing Agreement.
LASALLE NATIONAL BANK,
as Trustee
By:
--------------------------------------
Name:
------------------------------------
Title:
-----------------------------------
-2-
<PAGE>
Page 1 6/24/97
EXHIBIT H-1
MORTGAGE LOAN SCHEDULE FOR SUB-POOL 1
ALLIANCE FUNDING COMPANY
A DIVISION OF SUPERIOR BANK FSB
SALE SCHEDULE
1997-2 CLASS 1 - INITIAL POOL OF FIXED RATE MORTGAGES - SETTLEMENT 6/25/97
<TABLE>
<CAPTION>
Principal
Zip Balance at
Sale ID Account Name Address City State Code Origination
- ----------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C>
MIT972 661324582 BURMER HARRIS 22 TINDER LANE LAKE GROVE NY 11755 40,000.00
MIT972 661324590 HIETALA GAIL M 1635 FERRY STREET WAUKEGAN IL 60087 35,500.00
MIT972 661324608 LYCHMANENKO ANNA 61 MORRIS DRIVE EAST MEADOW NY 11554 25,000.00
MIT972 661324624 DONNELLY WILLIAM E 59 WENDOVER ROAD ROCHESTER NY 14610 58,000.00
MIT972 661324657 JOHNSON DAVID F 307 WESLEY AVENUE EVANSTON IL 60202 80,000.00
MIT972 661324681 GRAYER ALICE JONES 7810 SOUTH PRAIRIE AVE CHICAGO IL 60619 10,500.00
MIT972 661324699 DEMAURO JOSEPH 290 BRIGHTON AVENUE STATEN ISLAND NY 10301 30,400.00
MIT972 661324723 WASHINGTON WILLIE JAMES 219-27 EDGEWOOD AVENUE SPRINGFIELD GARDENS NY 11413 18,000.00
MIT972 661324756 WEITZMAN STEPHEN A 4950 REEDY BROOK LANE COLUMBIA MD 21044 93,000.00
MIT972 661324764 FEATHERS EMILY M 15 FIRST AVENUE BROADALBIN NY 12025 20,000.00
MIT972 661324780 SCHUETT VICTOR E 225 NORTH 4TH STREET LIBERTYVILLE IL 60048 63,500.00
MIT972 661324814 RODRIGUEZ LIGIA 157 WINTERS DRIVE MASTIC NY 11950 12,000.00
MIT972 661324855 NILSEN EDWARD 316 OCEAN AVENUE BRENTWOOD NY 11717 35,000.00
MIT972 661324905 DEVERY ROBERT M 5079 QUEENS WOOD DRIVE BURKE VA 22015 164,500.00
MIT972 661324921 SINACORE MARGARET 27 VERBENA DRIVE COMMACK NY 11725 12,500.00
MIT972 661324947 RAMAIKAS ROSEMARIE 116 MYRTLE AVENUE WEST ISLIP NY 11795 20,000.00
MIT972 661324954 BETHEA JACQUELINE 328 EGGERTS CROSSING ROAD LAWRENCEVILLE NJ 08648 143,000.00
MIT972 661324988 COGLIANO JOHN W 14 PARLIN STREET EVERETT MA 02149 18,000.00
MIT972 661325027 BREHM DONALD F 72 ADA DRIVE STATEN ISLAND NY 10314 35,000.00
MIT972 661325035 MAGNELLO EDDA R 2164 TIBBETS-WICK ROAD GIRARD OH 44420 24,500.00
MIT972 661325043 RUSSO MARIA 7 CALVIN AVENUE LODI NJ 07644 35,000.00
MIT972 661325050 PIERCE PETER 28 GUSTO MANOR LANE ROOSEVELT NY 11575 64,250.00
MIT972 661325068 TRAIETTA JOSEPH 64 PARK CIRCLE SOUTH EAST FARMINGDALE NY 11735 17,500.00
MIT972 661325100 JACKSON RICHARD T 87 UPPER RESERVOIR ROAD NEW MILFORD CT 06776 55,000.00
MIT972 661325118 WOOD ARLENE R 200 OAK STREET SAYREVILLE NJ 08879 55,000.00
MIT972 661325134 OLSON RICHARD T 169 GRANITE STREET ROCKPORT MA 01966 18,700.00
MIT972 661325175 DANIEL ELLIOTT C 1922 VALENCIA ROAD DECATUR GA 30032 22,000.00
MIT972 661325183 DELESSIO RAYMOND 918 KINGS PARKWAY BALDWIN NY 11510 54,000.00
MIT972 661325191 BUTCHER DOROTHY 5 OVERLOOK DRIVE SLOATSBURG NY 10974 25,000.00
MIT972 661325209 BUYTKINS JOSEPH P 4 CROSS STREET SAUGERTIES NY 12477 23,000.00
MIT972 661325233 SYLVESTER LESLIE L 12 HENDRY STREET DORCHESTER MA 02122 60,000.00
MIT972 661325241 WATTS GERALD A 318 JOHN JAY DRIVE ROCHESTER NY 14617 20,000.00
MIT972 661325258 MIECZKOWSKI KAREN MARY 2525 ARDMORE PLACE BELLMORE NY 11710 11,500.00
MIT972 661325274 KASTRUNES ANDREAS 1013 LONDONDERRY DRIVE GLEN BURNIE MD 21061 78,000.00
MIT972 661325332 GRAY HAZEL M 1138 OSSIPEE ROAD WEST HEMPSTEAD NY 11552 105,000.00
MIT972 661325365 WALLER MARIE 15 OAKLEY STREET DORCHESTER MA 02124 50,000.00
MIT972 661325399 PERALTA MARINO P 38A BUSHWICK AVENUE BRENTWOOD NY 11717 62,400.00
MIT972 661325407 INNESS DEBORAH S 62 WIDMER ROAD WAPPINGER FALLS NY 12590 55,000.00
MIT972 661325423 BODDIE ANNE MAE 28 LENT AVENUE MONTROSE NY 10548 16,000.00
MIT972 661325431 POTOSKI PATRICIA 212 NORTH WYOMING AVENUE NORTH MASSAPEQUA NY 11758 30,000.00
MIT972 661325464 HICKS LEO F JR 75 JUDSON PLACE BRIDGEPORT CT 06606 14,000.00
MIT972 661325472 EDELSTEIN JACK 560 CLUBHOUSE ROAD WOODMERE NY 11598 85,000.00
MIT972 661325498 GIBSON GARY 113-28 209TH STREET QUEENS VILLAGE NY 11429 26,500.00
MIT972 661325522 RENNIX MARGARET 1451 NEEDHAM AVENUE BRONX NY 10469 99,750.00
MIT972 661325530 SHEAR ROBERT E 6115 HELLEN LEE DRIVE CLINTON MD 20735 76,000.00
MIT972 661325555 FLYNN JAMES KNOBB HILL ROAD WESTBROOKVILLE NY 12785 45,000.00
MIT972 661325563 ABBOTT JAMES M 98 COWPER STREET EAST BOSTON MA 02128 30,000.00
MIT972 661325589 FLORES APOLONIO 2337 RIVERVIEW ROAD CLEARLAKE CA 95423 35,100.00
MIT972 661325597 KLAUSER MALCOLM 2151 SUFONET DRIVE SAN JOSE CA 95124 35,000.00
MIT972 661325605 REYNOSO RUDOLPH REYES 3812 COSLEY STREET IRVINE CA 92714 35,500.00
MIT972 661325613 GOZASHTI FARID H 1748 AVENIDA SEGOVIA OCEANSIDE CA 92056 50,000.00
------------------------------------- ----------------
51 Sale Total 2,327,600.00
<CAPTION>
Cut-off Date First Original Current Scheduled
Principal Payment Maturity Rem Date LTV Mortgage Payment
Sale ID Account Balance Date Date Term Due Ratio Rate Int & Prin
- -------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
MIT972 661324582 30,882.08 03/01/90 02/01/05 92.00 06/01/97 30.5 14.990 559.56
MIT972 661324590 25,893.32 03/01/90 02/01/05 92.00 07/01/97 64.5 13.950 471.58
MIT972 661324608 19,974.73 01/13/90 12/13/04 90.35 06/13/97 34.1 16.990 384.57
MIT972 661324624 42,764.38 02/12/90 01/12/05 91.33 08/12/97 64.9 13.950 770.46
MIT972 661324657 62,087.53 03/09/90 02/09/05 92.25 06/09/97 61.4 14.750 1,106.01
MIT972 661324681 8,524.42 04/20/90 03/20/05 93.53 05/20/97 19.8 18.000 169.09
MIT972 661324699 23,346.95 04/07/90 03/07/05 93.11 06/07/97 64.9 14.250 409.97
MIT972 661324723 13,986.19 04/27/90 03/27/05 93.76 06/27/97 22.8 15.000 251.93
MIT972 661324756 91,012.54 04/05/90 03/05/05 93.04 05/05/97 64.5 15.000 1,175.93
MIT972 661324764 15,155.59 03/15/90 02/15/05 92.45 06/15/97 51.5 14.500 273.10
MIT972 661324780 47,995.26 04/23/90 03/23/05 93.63 06/23/97 50.8 13.750 835.02
MIT972 661324814 9,515.13 04/12/90 03/12/05 93.27 05/12/97 28.6 14.500 163.86
MIT972 661324855 27,429.64 04/23/90 03/23/05 93.63 05/23/97 35.8 14.990 489.61
MIT972 661324905 163,587.48 05/27/90 04/27/05 94.78 05/27/97 70.0 14.500 2,014.39
MIT972 661324921 9,651.34 03/26/90 02/26/05 92.81 05/26/97 13.6 14.500 170.69
MIT972 661324947 16,587.53 05/03/90 04/03/05 93.99 06/03/97 22.4 16.500 300.74
MIT972 661324954 111,652.02 07/11/90 06/11/05 96.26 06/11/97 65.0 14.500 1,952.66
MIT972 661324988 13,925.87 04/13/90 03/13/05 93.30 06/13/97 64.6 15.500 258.12
MIT972 661325027 28,483.82 05/23/90 04/23/05 94.65 05/23/97 56.7 16.000 514.05
MIT972 661325035 19,965.49 06/04/90 05/04/05 95.01 06/04/97 50.0 16.900 375.32
MIT972 661325043 26,921.53 05/10/90 04/10/05 94.22 07/10/97 20.0 14.990 489.61
MIT972 661325050 53,799.85 05/25/90 04/25/05 94.72 05/25/97 65.1 16.900 984.26
MIT972 661325068 13,620.97 05/23/90 04/23/05 94.65 05/23/97 70.3 14.250 236.00
MIT972 661325100 42,370.54 06/09/90 05/09/05 95.18 06/09/97 65.0 13.750 723.24
MIT972 661325118 42,851.37 04/05/90 03/05/05 93.04 06/05/97 42.6 14.875 765.07
MIT972 661325134 15,493.46 07/13/90 06/13/05 96.33 06/13/97 54.8 16.500 281.19
MIT972 661325175 17,495.00 05/26/90 04/26/05 94.75 05/26/97 64.9 16.500 330.82
MIT972 661325183 43,681.83 05/18/90 04/18/05 94.49 06/18/97 45.9 15.900 789.34
MIT972 661325191 19,160.49 05/09/90 04/09/05 94.19 07/09/97 35.6 14.500 341.38
MIT972 661325209 18,382.88 05/10/90 04/10/05 94.22 06/10/97 49.1 15.990 337.64
MIT972 661325233 46,805.18 05/06/90 04/06/05 94.09 06/06/97 34.0 15.500 860.39
MIT972 661325241 16,342.94 05/10/90 04/10/05 94.22 06/10/97 59.9 16.500 300.74
MIT972 661325258 9,259.11 07/25/90 06/25/05 96.72 06/25/97 54.9 15.950 168.50
MIT972 661325274 75,412.93 07/25/90 06/25/05 96.72 05/25/97 60.0 13.900 918.03
MIT972 661325332 88,161.07 07/11/90 06/11/05 96.26 05/11/97 60.0 16.990 1,615.21
MIT972 661325365 40,677.84 07/20/90 06/20/05 96.56 06/20/97 41.7 16.900 765.96
MIT972 661325399 50,206.26 07/15/90 06/15/05 96.39 05/15/97 65.5 14.990 872.91
MIT972 661325407 43,895.26 07/20/90 06/20/05 96.56 06/20/97 57.0 15.990 807.40
MIT972 661325423 12,780.00 07/18/90 06/18/05 96.49 05/18/97 31.7 14.750 221.20
MIT972 661325431 23,537.13 07/05/90 06/05/05 96.07 06/05/97 48.8 14.500 409.65
MIT972 661325464 8,075.36 07/05/90 06/05/05 96.07 05/05/98 44.5 15.950 205.13
MIT972 661325472 68,945.94 07/06/90 06/06/05 96.10 05/06/97 29.7 14.500 1,160.67
MIT972 661325498 20,693.94 07/14/90 06/14/05 96.36 06/14/97 57.4 14.500 361.86
MIT972 661325522 79,602.78 07/26/90 06/26/05 96.76 05/26/97 54.8 15.500 1,430.40
MIT972 661325530 60,793.06 08/05/90 07/05/05 97.05 05/05/97 70.5 14.500 1,037.78
MIT972 661325555 37,147.35 07/25/90 06/25/05 96.72 05/25/97 39.1 15.990 660.60
MIT972 661325563 23,949.57 08/03/90 07/03/05 96.99 05/03/97 48.3 14.250 404.57
MIT972 661325589 34,227.53 06/03/90 05/03/05 94.98 06/03/97 53.1 13.950 414.50
MIT972 661325597 33,971.51 06/01/90 05/01/05 95.00 06/01/97 65.1 13.950 413.32
MIT972 661325605 34,524.62 02/17/90 01/17/05 91.50 06/17/97 69.9 15.000 448.88
MIT972 661325613 49,047.59 02/12/90 01/12/05 91.33 06/12/97 65.7 14.700 620.25
------------------------ ----------- ----------------------------
51 1,934,256.20 94.75 55.1 15.069 32,023.16
</TABLE>
<PAGE>
Page 2 6/24/97
ALLIANCE FUNDING COMPANY
A DIVISION OF SUPERIOR BANK FSB
SALE SCHEDULE
1997-2 CLASS 1 - INITIAL POOL OF FIXED RATE MORTGAGES - SETTLEMENT 6/25/97
<TABLE>
<CAPTION>
Principal
Zip Balance at
Sale ID Account Name Address City State Code Origination
- ----------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C>
ML689 661120162 KIMBALL GORDON 1500 LONE TREE HIGHLAND TOWNSHIP MI 48380 120,000.00
ML689 661290130 PARKER JOHN WILLIAM 748 SE WALNUT ST HILLSBORO OR 97123 49,500.00
ML689 661346445 FRANKLIN MARY 159-03 NORTH CONDUIT AVENU SPRINGFIELD GARDENS NY 11434 54,000.00
ML689 661399469 GLASSMAN JEFFREY I 5213 HILLTOP ROAD LONG GROVE IL 60047 142,500.00
ML689 661400069 PERSONETT JOSEPH A 19280 LINCOLN GREEN LANE MONUMENT CO 80132 49,000.00
ML689 661402628 GONZALES RICHARD A 119 NORTH WILLOW STREET LAYTON UT 84041 34,296.00
ML689 661414821 WACHS WILLIAM J 5031 W 81ST STREET BURBANK IL 60459 34,500.00
ML689 661418970 DEFORGE LAURETTA 332 & 334 FOXGLOVE EUGENE OR 97404 83,930.00
ML689 661419549 FISCHER PAMELA A 5 LEE PLACE AMITYVILLE NY 11701 31,300.00
ML689 661421172 SHARIFI PARVIZ 1073 NEZ PERCE COURT FREMONT CA 94539 95,000.00
ML689 661421248 DANIEL JOHN A 1030 DARLING STREET OGDEN UT 84403 23,400.00
ML689 661421651 ROMITO NICKY E 4418 REDFERN PARMA OH 44134 80,700.00
ML689 661425637 MORONES RODOLFO C 7501 MUIRFIELD WAY SACRAMENTO CA 95822 63,750.00
ML689 661426791 SCHULZE MARTIA 4505 WEST 5295 SOUTH SALT LAKE CITY UT 84118 15,000.00
ML689 661428425 KOOZMAN EVAN 2143 SE 92ND AVENUE PORTLAND OR 97216 32,000.00
ML689 661429449 CHAN TAT KEUNG 15307 EAST GUNNISON PLACE AURORA CO 80012 40,000.00
ML689 661430686 BOYES SUSAN J 15445 OAK SPRING ROAD LIBERTYVILLE IL 60048 80,000.00
ML689 661432559 LIBHART STEVEN J 768 SOUTH GRANT STREET DENVER CO 80209 20,000.00
ML689 661432682 HYDE DONALD GREGORY 3741 WEST VILLA MARIA DRIV GLENDALE AZ 85308 14,000.00
ML689 661435347 AULT JAMES H 8611 NORTHEAST 21ST PLACE CLYDE HILL WA 98004 130,400.00
ML689 661435610 RESCHKE MICHAEL K 4807 SANDALWOOD CIRCLE TAYLORSVILLE UT 84118 41,250.00
ML689 661435743 BLALOCK STEPHEN J 5288 CHIQUITA ROAD INDIAN HILLS CO 80454 23,075.00
ML689 661436444 WELLS J CAROLE 1202 WASHINGTON STREET BELLINGHAM WA 98225 30,500.00
ML689 661436485 RESCHKE JOHN E 6211 SOUTH RAINSBOROUGH CI SALT LAKE CITY UT 84121 58,300.00
ML689 661436725 JONES TINA A 4963 SCRANTON STREET DENVER CO 80239 17,000.00
ML689 661437590 HERGENRETER DONALD 6642 WEST 81ST AVENUE ARVADA CO 80003 45,257.00
ML689 661437913 ROBINSON GARY W 2523 ASPEN SPRINGS DRIVE PARK CITY UT 84060 147,000.00
ML689 661438168 THREADGILL ALPHONSO 8052 S. HERMITAGE AVE. CHICAGO IL 60620 56,100.00
ML689 661438937 SCHADEI BARBARA-AN 47 MARINE AVENUE WEST LINDENHURST NY 11757 70,000.00
ML689 661439554 WILLIAMS RAVENALD J 55 FALLWIND CIRCLE SACRAMENTO CA 95831 74,600.00
ML689 661440297 ORESIK MARK C 633 WEST 600 NORTH HOBART IN 46342 39,200.00
ML689 661440727 HALVERSEN RON J 359 WEST 2450 NORTH LEHI UT 84043 24,350.00
ML689 661440735 PARKES DALE A 274 NORTH 980 EAST LINDON UT 84042 49,988.00
ML689 661440867 SAYRE JAMES R 1684 EAST GIBBS AVENUE COTTAGE GROVE OR 97424 18,400.00
ML689 661441329 SMITH JOHNNIE E 4135 BOULEVARD PLACE INDIANAPOLIS IN 46208 12,000.00
ML689 661441865 SWEET GERALD 5 EQUITY COURT MOUNT SINAI NY 11766 47,100.00
ML689 661441881 ZEFFER EDWARD JR 101 GLEN ROAD NORTH BABYLON NY 11703 18,200.00
ML689 661442459 DOYLE DAVID P 2107 NE 102ND AVENUE PORTLAND OR 97220 25,600.00
ML689 661442541 C RICE JOEL E 1747 SOUTH MARION STREET DENVER CO 80210 35,000.00
ML689 661442640 REDMON RICCI E 252-254 SOUTH HIGHLAND AVE COLUMBUS OH 43223 74,800.00
ML689 661442657 DUDEK EVE T 5820 SOUTH KENSINGTON COUNTRYSIDE IL 60525 35,000.00
ML689 661442897 TAVEY SHERYL 5684 SOUTH 625 EAST MURRAY UT 84107 16,500.00
ML689 661442996 HAVLENA DIANA 33311 COVE ISLAND PLACE DANA POINT CA 92629 34,000.00
ML689 661443200 OGGEL JEFFERY P 3205 SE 138TH AVENUE PORTLAND OR 97236 51,800.00
ML689 661443549 KURZINSKI RANDALL L W. 1037 GREEN ROAD BLOOMFIELD TOWN WI 53157 46,000.00
ML689 661443853 RODRIGUEZ JESUS 6 SHADY OAKS DRIVE WATSONVILLE CA 95076 27,950.00
ML689 661443879 RICHARDS NANCY E 6373 C ZANG COURT ARVADA CO 80004 18,000.00
ML689 661445106 KING MICHAEL 718 NE DEKUM STREET PORTLAND OR 97211 14,300.00
ML689 661445759 SORENSEN MICHAEL W 13695 FRONT STREET PEYTON CO 80831 27,000.00
ML689 661446740 BERKOSKI RODNEY J 449 BLANK LANE WATERMILL NY 11976 61,200.00
ML689 661447169 JACUS WALTER C 424 EAST 55TH STREET HINSDALE IL 60521 59,000.00
ML689 661447300 HOPKINS CLEO 5490 NORTH OSBORN ROAD RIVERDALE MI 48877 50,000.00
ML689 661447540 BARNES JAMES B 955 N. EASTERN AVE. INDIANAPOLIS IN 46201 48,100.00
ML689 661447789 CRISMAN RANDY L 13000 SW JACOB COURT TIGARD OR 97223 30,491.00
ML689 661447995 PHILLIPS GARY WILLIAM 2104 SALT DRIVE COLORADO SPRINGS CO 80910 39,650.00
ML689 661448068 PALACIOS ALFREDO 423 FERN STREET NAMPA ID 83686 11,488.00
ML689 661448605 FORT WILLIAM C 3712 GENERAL PATCH NE ALBUQUERQUE NM 87111 10,445.00
ML689 661448894 LAWRENCE JUDITH M 585 W. GILBERT DRIVE WOOD DALE IL 60191 68,000.00
ML689 661449884 CERNEY RAYMOND S 8565 EAST OTERO CIRCLE ENGLEWOOD CO 80112 34,450.00
ML689 661449967 EICHEL GAIL 3051 NORTH 3800 WEST CEDAR CITY UT 84720 80,000.00
ML689 661450056 SMITH RICHARD GEORGE 7440 CHASE DRIVE ARVADA CO 80003 20,912.00
ML689 661450155 GOIN MARGARET C 9595 SOUTHWEST ROBBINS DRI BEAVERTON OR 97007 24,579.00
ML689 661450163 TANN KESHA A 3809 SMOKE TREE DRIVE COLORADO SPRINGS CO 80920 15,760.00
ML689 661450445 MCGEE CARL W J 961 DAFFODIL STREET FOUNTAIN CO 80817 21,125.00
<CAPTION>
Cut-off Date First Original Current Scheduled
Principal Payment Maturity Rem Date LTV Mortgage Payment
Sale ID Account Balance Date Date Term Due Ratio Rate Int & Prin
- ------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
ML689 661120162 119,616.03 07/01/96 06/01/26 348.00 06/01/97 60.0 10.000 1,053.09
ML689 661290130 48,616.00 09/20/96 08/20/11 170.63 06/20/97 75.5 13.000 626.29
ML689 661346445 53,989.43 11/29/96 10/29/11 172.93 05/29/97 81.6 11.500 534.76
ML689 661399469 142,500.00 02/14/97 01/14/17 235.46 06/14/97 79.9 14.000 1,772.02
ML689 661400069 48,840.25 02/17/97 01/17/12 175.56 06/17/97 87.9 12.750 532.48
ML689 661402628 34,181.92 03/01/97 02/01/12 176.00 07/01/97 89.5 13.150 383.41
ML689 661414821 34,500.00 05/01/97 04/01/12 178.00 06/01/97 89.8 12.750 374.91
ML689 661418970 83,930.00 04/01/97 03/01/12 177.00 06/01/97 70.0 11.750 847.20
ML689 661419549 31,300.00 05/21/97 04/21/12 178.65 05/21/97 39.3 10.100 338.27
ML689 661421172 95,000.00 06/01/97 05/01/17 239.00 06/01/97 71.7 12.000 1,046.03
ML689 661421248 23,055.07 04/01/97 03/01/12 177.00 07/01/97 79.1 14.300 282.83
ML689 661421651 80,700.00 04/28/97 03/28/27 357.86 05/28/97 79.9 12.500 861.28
ML689 661425637 63,677.23 04/01/97 03/01/12 177.00 06/01/97 85.0 10.850 718.59
ML689 661426791 14,928.70 06/01/97 05/01/12 179.00 07/01/97 46.6 11.500 148.54
ML689 661428425 31,924.53 06/01/97 05/01/12 179.00 07/01/97 84.7 12.750 399.63
ML689 661429449 40,000.00 06/01/97 05/01/12 179.00 06/01/97 78.7 11.250 388.50
ML689 661430686 80,000.00 05/01/97 04/01/12 178.00 06/01/97 37.5 11.900 816.74
ML689 661432559 19,978.83 06/01/97 05/01/17 239.00 07/01/97 73.8 12.750 230.76
ML689 661432682 14,000.00 06/01/97 05/01/12 179.00 06/01/97 83.9 11.050 159.56
ML689 661435347 130,400.00 05/01/97 04/01/12 178.00 06/01/97 89.4 12.750 1,417.05
ML689 661435610 41,250.00 04/01/97 03/01/12 177.00 06/01/97 84.9 13.700 478.98
ML689 661435743 23,075.00 06/01/97 05/01/12 179.00 06/01/97 84.9 12.750 250.75
ML689 661436444 30,397.77 04/19/97 03/19/12 177.57 06/19/97 80.4 13.750 401.08
ML689 661436485 57,547.46 05/01/97 04/01/12 178.00 08/01/97 90.0 12.700 631.27
ML689 661436725 17,000.00 06/01/97 05/01/12 179.00 06/01/97 89.6 11.750 201.30
ML689 661437590 45,257.00 06/01/97 05/01/17 239.00 06/01/97 84.8 12.350 509.41
ML689 661437913 147,000.00 06/01/97 05/01/12 179.00 06/01/97 56.6 11.750 1,483.83
ML689 661438168 56,100.00 05/07/97 04/07/12 178.19 06/07/97 84.9 12.650 605.27
ML689 661438937 70,000.00 05/14/97 04/14/12 178.42 06/14/97 56.0 9.990 751.80
ML689 661439554 74,566.62 05/01/97 04/01/12 178.00 06/01/97 87.3 11.575 743.03
ML689 661440297 39,200.00 05/16/97 04/16/12 178.49 06/16/97 79.3 13.250 441.30
ML689 661440727 24,350.00 05/01/97 04/01/12 178.00 06/01/97 89.8 11.750 245.79
ML689 661440735 49,988.00 05/01/97 04/01/12 178.00 06/01/97 89.9 11.350 579.20
ML689 661440867 18,333.54 06/01/97 05/01/17 239.00 07/01/97 79.8 13.990 228.67
ML689 661441329 11,926.41 04/25/97 03/25/12 177.76 06/25/97 51.0 11.750 121.13
ML689 661441865 46,994.95 05/04/97 04/04/12 178.09 06/04/97 84.5 11.500 550.22
ML689 661441881 18,162.02 05/11/97 04/11/07 118.32 06/11/97 85.5 11.500 255.88
ML689 661442459 25,600.00 06/01/97 05/01/12 179.00 06/01/97 84.9 12.750 319.70
ML689 661442541 35,000.00 06/01/97 05/01/12 179.00 06/01/97 49.9 11.500 408.87
ML689 661442640 74,800.00 06/01/97 05/01/12 179.00 06/01/97 85.0 13.450 853.83
ML689 661442657 34,862.33 05/16/97 04/16/17 238.49 06/16/97 21.8 10.400 347.09
ML689 661442897 16,331.91 05/01/97 04/01/12 178.00 07/01/97 88.1 11.750 166.55
ML689 661442996 33,879.93 06/01/97 05/01/12 179.00 07/01/97 84.9 12.750 369.48
ML689 661443200 51,800.00 04/25/97 03/25/12 177.76 05/25/97 84.5 13.300 585.18
ML689 661443549 45,777.22 05/08/97 04/08/17 238.22 07/08/97 34.0 9.800 437.83
ML689 661443853 27,950.00 05/15/97 04/15/12 178.45 06/15/97 84.9 12.750 303.73
ML689 661443879 17,995.87 06/01/97 05/01/27 359.00 07/01/97 15.0 10.500 164.65
ML689 661445106 14,300.00 06/01/97 05/01/12 179.00 06/01/97 71.2 11.500 167.05
ML689 661445759 26,932.34 06/01/97 05/01/12 179.00 07/01/97 89.0 11.750 319.72
ML689 661446740 61,089.24 05/07/97 04/07/12 178.19 06/07/97 34.3 12.000 734.50
ML689 661447169 58,919.58 05/14/97 04/14/17 238.42 06/14/97 79.7 14.000 733.68
ML689 661447300 50,000.00 06/01/97 05/01/17 239.00 07/01/97 67.5 10.050 484.17
ML689 661447540 48,048.01 05/09/97 04/09/27 358.26 06/09/97 89.9 11.550 478.17
ML689 661447789 30,491.00 06/01/97 05/01/12 179.00 06/01/97 79.9 13.990 361.04
ML689 661447995 39,603.23 06/01/97 05/01/17 239.00 07/01/97 90.0 11.750 429.69
ML689 661448068 11,488.00 06/01/97 05/01/12 179.00 06/01/97 79.8 13.990 152.91
ML689 661448605 10,416.72 05/07/97 04/07/12 178.19 06/07/97 84.8 12.750 130.44
ML689 661448894 67,542.13 05/07/97 04/07/12 178.19 07/07/97 57.5 11.250 783.59
ML689 661449884 34,450.00 06/01/97 05/01/12 179.00 06/01/97 89.9 11.750 347.74
ML689 661449967 80,000.00 06/01/97 05/01/12 179.00 06/01/97 57.1 10.500 731.79
ML689 661450056 20,875.64 06/01/97 05/01/12 179.00 07/01/97 84.9 12.350 255.71
ML689 661450155 24,507.12 06/01/97 05/01/12 179.00 07/01/97 79.9 11.250 283.23
ML689 661450163 15,760.00 06/01/97 05/01/17 239.00 06/01/97 89.9 11.750 170.79
ML689 661450445 21,125.00 06/01/97 05/01/12 179.00 06/01/97 90.0 11.750 213.24
</TABLE>
<PAGE>
Page 3 6/24/97
ALLIANCE FUNDING COMPANY
A DIVISION OF SUPERIOR BANK FSB
SALE SCHEDULE
1997-2 CLASS 1 - INITIAL POOL OF FIXED RATE MORTGAGES - SETTLEMENT 6/25/97
<TABLE>
<CAPTION>
Principal
Zip Balance at
Sale ID Account Name Address City State Code Origination
- ---------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C>
ML689 661450585 SKEITH SHAWN F 11405 25TH STREET NORTHEAS LAKE STEVENS WA 98258 19,800.00
ML689 661450775 ORTIZ TRENT H 2964 CAMINO CIELO COURT COLORADO SPRINGS CO 80920 16,950.00
ML689 661450833 HUNTER WILLIAM C 1246 SOUTH ROUTT WAY LAKEWOOD CO 80232 25,000.00
ML689 661450924 ZURFLUH SCOTT D 202 GRANT STREET FREDERICK CO 80530 21,300.00
ML689 661451096 KNIGHT JAY JOSEPH 15613 NORTH 54TH STREET PHOENIX AZ 85254 18,000.00
ML689 661451260 JOSEPH ROBERT LEON 1156 EAST LOST EDEN DRIVE SANDY UT 84094 28,370.00
ML689 661451294 GRASER MARY L 12055 RICHARDSON LANE PEYTON CO 80831 35,600.00
ML689 661451385 SMITH MARY THERESE 7315 SILVERDALE STREET COLORADO SPRINGS CO 80911 28,000.00
ML689 661451666 RAINER CHARLES JR 8411 S. HOYNE CHICAGO IL 60620 45,000.00
ML689 661451765 SMITH RUBY 1819 S. KOMENSKY CHICAGO IL 60623 92,500.00
ML689 661452003 BECKER BRUCE L 305 RAMBLE RD. LAKE IN THE HILLS IL 60102 22,200.00
ML689 661452086 OZBURN CHARLES B 3712 OVERTON DRIVE RICHMOND IL 60071 33,000.00
ML689 661453050 LEVINE DONNA A 7185 SOUTH FOX COURT LARKSPUR CO 80118 115,000.00
ML689 661453225 FREAS JEFFREY C 1033 ASHLAND WILMETTE IL 60091 100,000.00
ML689 661453936 MARQUIS CHARLES R 45985 SUMMIT ROAD PARKER CO 80134 31,800.00
ML689 661453985 ATKINSON JR DAVID G 354 NORTH 1120 WEST PROVO UT 84601 19,000.00
ML689 661454132 CLEGG MORRIS G 355 SOUTH HOLDAWAY ROAD VINEYARD UT 84058 32,000.00
ML689 661454157 CLARK STEWART V 8743 EAST WOODLAND AVENUE QUEEN CREEK AZ 85242 60,000.00
ML689 661454306 KOFOED LARRY E 7306 NORTH OTTAWA CHICAGO IL 60631 58,000.00
ML689 661454371 REDMON RICCI E 430-432 NAPOLEON AVE COLUMBUS OH 43223 59,500.00
ML689 661454728 MILLER LAWRENCE E 12213 SOUTH LAUREL CHASE D RIVERTON UT 84065 24,800.00
ML689 661454868 WATSON DON C 3473 NW 126TH AVENUE PORTLAND OR 97229 40,000.00
ML689 661454918 HARVEY KENNETH 88-53 75TH AVENUE GLENDALE NY 11385 89,000.00
ML689 661454975 BATTLE SAMUEL 2420-22 E 73RD STREET CHICAGO IL 60649 51,000.00
ML689 661455428 LERNER LAWRENCE C 2370 LAWRENCE STREET EUGENE OR 97405 27,850.00
ML689 661455618 RICHARDSON BONNIE B 4780 MONTEBELLO DRIVE COLORADO SPRINGS CO 80918 23,000.00
ML689 661455857 SKAHILL GREGORY A 5821 SOUTH LISBON WAY AURORA CO 80015 48,000.00
ML689 661456137 SPRAGUE RICHARD W JR 819 NICOLET BOULEVARD NEENAH WI 54956 25,100.00
ML689 661456301 FISHER DE ANNE D 124 DALY AVENUE PARK CITY UT 84060 29,763.00
ML689 661456509 DEI BRIAN L 5944 WILD PLUM DRIVE LOVELAND CO 80537 67,205.00
ML689 661456665 SANTOS CRISTETA M 450 SPRINGSIDE BUFFALO GROVE IL 60089 47,500.00
ML689 661457085 KING DARRYL L 1372 DAHLIA STREET DENVER CO 80220 51,375.00
ML689 661457457 ANGEL PHYLLIS J 10853 WEST PATTERSON PLACE LITTLETON CO 80127 27,400.00
ML689 661457465 MATHEWSON RICHARD J 10550 PIERSON CIRCLE BROOMFIELD CO 80020 37,757.00
ML689 661457481 KANE SCOTT J 2038 SE 46TH AVENUE PORTLAND OR 97215 41,680.00
ML689 661457838 WALSH PHILLIP 6034 N. PAULINA ST. CHICAGO IL 60660 11,600.00
ML689 661457978 VAN ALST TERESA 3307 EAST 100 S. ANDERSON IN 46017 29,300.00
ML689 661458133 KELLY JAY A 4751 WEST MORROW DRIVE GLENDALE AZ 85308 28,500.00
ML689 661458190 NIEGOWSKI MICHAEL A 2285 JAMAICA STREET AURORA CO 80010 55,000.00
ML689 661458562 MONTVILLE RICHARD S 18715 COVINGTON RD. MINNETONKA MN 55345 64,900.00
ML689 661458919 SCOTT FLOYD B 5815 NW 331ST STREET RIDGEFIELD WA 98642 100,000.00
ML689 661459016 ROWBERRY CLARK B 1474 NORTH 1050 WEST OREM UT 84057 13,566.00
ML689 661459057 WOOLSEY W BRUCE 389 WEST CHERRY DRIVE RIVERDALE UT 84405 18,000.00
ML689 661459099 WIEGAND JOHN M 4901 SOUTH WADSWORTH BLVD LITTLETON CO 80123 72,123.00
ML689 661459248 MATTHIES JANET L 5493 SOUTH 670 WEST MURRAY UT 84123 97,850.00
ML689 661459321 SHERMAN RAYMOND 38 COLONIAL DRIVE FARMINGDALE NY 11735 78,100.00
ML689 661459495 GEORGE KENNETH R 217 W. PINEVIEW DR. ROUND LAKE IL 60073 45,000.00
ML689 661459776 GUMO PHILIP J 16392 EAST HIALEAH DRIVE AURORA CO 80015 31,109.00
ML689 661459800 SWAIN REED 5350 WEST CADENZA DRIVE WEST JORDAN UT 84084 18,375.00
ML689 661459867 ERNEST TIMOTHY NEIL 11478 SOUTH CRANBERRY HILL DRAPER UT 84020 30,000.00
ML689 661459875 SCHNEIDER SARA M 3925 E MONTE CRISTO AVENUE PHOENIX AZ 85032 33,889.00
ML689 661460048 CALVO HELEN 599 LONDON AVENUE LAFAYETTE CO 80026 13,000.00
ML689 661460121 GODDARD DAVID W 10161 WEST EXPOSITION DRIV LAKEWOOD CO 80226 16,700.00
ML689 661460196 WELLS ALBERT 20743 MARBLE CANYON WAY EA MAYER AZ 86333 40,375.00
ML689 661460238 DOWNEY EILEEN 10445 S. CAMPBELL AVE. CHICAGO IL 60655 32,400.00
ML689 661460865 SPANTON BURT L 3528 WEST 7340 SOUTH WEST JORDAN UT 84084 20,000.00
ML689 661460881 JOHNSON LORI A 5148 WEST FESTIVAL DRIVE WEST VALLEY CITY UT 84120 11,000.00
ML689 661461343 NTIAMOAH AUDREY 9335 SOUTH LOOMIS CHICAGO IL 60620 12,000.00
ML689 661461715 SNOWDEN LESTER R 2679 ZEPHYR DRIVE COLORADO SPRINGS CO 80920 35,000.00
ML689 661461772 FISK CHARLES R 6702 EAST SUGARLOAF STREET MESA AZ 85215 25,000.00
ML689 661461954 WEST ROGER H 481 WEST 2350 SOUTH BOUNTIFUL UT 84010 45,200.00
ML689 661461970 LANIG CARRIE T 3549 WESTRIDGE PLACE SOUTH SALEM OR 97302 21,000.00
ML689 661462622 WILDING MARK L 3929 WEST 3280 SOUTH WEST VALLEY CITY UT 84120 45,201.00
ML689 661463125 MCCRACKEN SCOTT A 7604 WYANDOT STREET DENVER CO 80221 33,402.00
<CAPTION>
Cut-off Date First Original Current Scheduled
Principal Payment Maturity Rem Date LTV Mortgage Payment
Sale ID Account Balance Date Date Term Due Ratio Rate Int & Prin
- -----------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
ML689 661450585 19,800.00 06/01/97 05/01/12 179.00 06/01/97 80.7 12.750 247.27
ML689 661450775 16,950.00 06/01/97 05/01/17 239.00 06/01/97 79.9 13.000 198.58
ML689 661450833 24,963.75 06/01/97 05/01/12 179.00 07/01/97 72.1 13.100 278.51
ML689 661450924 20,998.70 06/01/97 05/01/12 179.00 08/01/97 89.9 11.350 246.80
ML689 661451096 18,000.00 05/01/97 04/01/12 178.00 06/01/97 80.0 12.050 185.84
ML689 661451260 28,356.92 03/01/97 02/01/12 176.00 06/01/97 76.0 12.990 313.61
ML689 661451294 35,600.00 06/01/97 05/01/17 239.00 06/01/97 84.8 11.800 387.03
ML689 661451385 27,965.11 06/01/97 05/01/17 239.00 07/01/97 79.8 11.250 293.79
ML689 661451666 45,000.00 05/18/97 04/18/27 358.55 06/18/97 64.2 11.750 454.23
ML689 661451765 92,474.37 05/11/97 04/11/12 178.32 06/11/97 82.5 10.050 815.17
ML689 661452003 22,200.00 06/01/97 04/10/16 227.00 06/01/97 69.3 11.525 221.89
ML689 661452086 33,000.00 05/15/97 04/15/17 238.45 06/15/97 79.9 13.000 386.62
ML689 661453050 115,000.00 06/01/97 05/01/12 179.00 06/01/97 85.0 12.750 1,249.70
ML689 661453225 99,941.79 05/07/97 04/07/17 238.19 06/07/97 70.5 11.500 1,066.43
ML689 661453936 31,800.00 06/01/97 05/01/17 239.00 06/01/97 84.9 12.750 366.91
ML689 661453985 19,000.00 06/01/97 05/01/12 179.00 06/01/97 82.1 13.350 215.39
ML689 661454132 32,000.00 06/01/97 05/01/12 179.00 06/01/97 79.9 12.200 334.09
ML689 661454157 59,544.12 06/01/97 05/01/12 179.00 07/01/97 84.6 12.750 749.30
ML689 661454306 57,857.92 05/18/97 04/18/12 178.55 06/18/97 79.9 14.000 687.23
ML689 661454371 59,500.00 06/01/97 05/01/12 179.00 06/01/97 70.0 12.200 621.20
ML689 661454728 24,625.62 06/01/97 05/01/12 179.00 07/01/97 79.7 13.350 319.51
ML689 661454868 40,000.00 06/01/97 05/01/12 179.00 06/01/97 71.3 11.250 460.94
ML689 661454918 88,772.61 05/23/97 04/23/17 238.72 05/23/97 75.0 12.500 1,011.17
ML689 661454975 51,000.00 05/21/97 04/21/17 238.65 05/21/97 52.0 10.150 497.24
ML689 661455428 27,850.00 06/01/97 05/01/12 179.00 06/01/97 84.9 12.750 347.80
ML689 661455618 23,000.00 06/01/97 05/01/12 179.00 06/01/97 89.9 11.800 233.05
ML689 661455857 48,000.00 06/01/97 05/01/17 239.00 06/01/97 84.3 11.500 511.89
ML689 661456137 25,022.02 05/11/97 04/11/17 238.32 06/11/97 75.4 11.150 261.65
ML689 661456301 29,763.00 06/01/97 05/01/12 179.00 06/01/97 79.9 13.350 337.40
ML689 661456509 67,205.00 06/01/97 05/01/12 179.00 06/01/97 90.0 11.800 680.95
ML689 661456665 47,452.54 05/11/97 04/11/12 178.32 06/11/97 89.9 11.400 551.87
ML689 661457085 50,950.56 06/01/97 05/01/17 239.00 07/01/97 77.2 11.750 556.75
ML689 661457457 27,400.00 06/01/97 05/01/12 179.00 06/01/97 78.9 13.350 310.61
ML689 661457465 37,757.00 06/01/97 05/01/12 179.00 06/01/97 84.9 12.400 462.91
ML689 661457481 41,625.38 05/14/97 04/14/12 178.42 06/14/97 84.9 12.750 520.52
ML689 661457838 11,553.69 05/15/97 04/15/07 118.45 06/15/97 73.6 14.125 180.98
ML689 661457978 29,300.00 07/01/97 05/15/12 180.00 07/01/97 88.1 12.275 329.35
ML689 661458133 28,500.00 06/01/97 05/01/17 239.00 06/01/97 84.7 12.350 320.79
ML689 661458190 54,638.50 06/01/97 05/01/12 179.00 07/01/97 79.1 11.150 630.32
ML689 661458562 64,900.00 05/21/97 04/21/17 238.65 05/21/97 84.9 12.750 748.82
ML689 661458919 100,000.00 06/01/97 05/01/12 179.00 06/01/97 79.6 12.950 1,102.29
ML689 661459016 13,566.00 05/04/97 04/04/12 178.09 06/04/97 89.9 12.750 169.42
ML689 661459057 18,000.00 06/01/97 05/01/12 179.00 06/01/97 81.5 12.750 195.60
ML689 661459099 72,123.00 06/01/97 05/01/12 179.00 06/01/97 85.0 12.500 769.74
ML689 661459248 97,714.98 06/01/97 05/01/12 179.00 07/01/97 88.1 9.650 833.51
ML689 661459321 78,100.00 05/15/97 04/15/07 118.45 05/15/97 53.3 11.250 1,086.91
ML689 661459495 44,997.74 05/15/97 04/15/17 238.45 06/15/97 39.1 11.100 467.55
ML689 661459776 31,109.00 06/01/97 05/01/12 179.00 06/01/97 84.9 12.750 338.06
ML689 661459800 18,321.96 06/01/97 05/01/12 179.00 07/01/97 89.9 11.300 212.32
ML689 661459867 30,000.00 06/01/97 05/01/12 179.00 06/01/97 87.7 11.800 303.97
ML689 661459875 33,687.39 06/01/97 05/01/17 239.00 07/01/97 84.2 12.750 391.02
ML689 661460048 12,821.24 06/01/97 05/01/12 179.00 08/01/97 58.4 11.000 147.76
ML689 661460121 16,695.96 06/01/97 05/01/12 179.00 09/01/97 85.0 12.750 181.48
ML689 661460196 40,375.00 06/01/97 05/01/12 179.00 06/01/97 85.0 13.100 513.50
ML689 661460238 32,400.00 05/11/97 04/11/17 238.32 06/11/97 74.9 11.750 351.12
ML689 661460865 19,855.23 04/25/97 03/25/12 177.76 06/25/97 78.8 10.700 223.57
ML689 661460881 11,000.00 05/04/97 04/04/12 178.09 06/04/97 89.6 12.750 119.54
ML689 661461343 12,000.00 05/04/97 04/04/12 178.09 06/04/97 89.9 11.800 142.48
ML689 661461715 35,000.00 06/01/97 05/01/17 239.00 06/01/97 80.9 12.750 403.83
ML689 661461772 25,000.00 06/01/97 05/01/12 179.00 06/01/97 73.9 13.650 289.31
ML689 661461954 45,133.07 05/04/97 04/04/12 178.09 06/04/97 81.4 13.700 592.86
ML689 661461970 21,000.00 06/01/97 05/01/12 179.00 06/01/97 50.7 10.900 198.40
ML689 661462622 45,168.94 05/04/97 04/04/17 238.09 06/04/97 87.5 12.750 521.53
ML689 661463125 33,304.90 06/01/97 05/01/12 179.00 07/01/97 90.0 11.150 382.80
</TABLE>
<PAGE>
Page 4 6/24/97
ALLIANCE FUNDING COMPANY
A DIVISION OF SUPERIOR BANK FSB
SALE SCHEDULE
1997-2 CLASS 1 - INITIAL POOL OF FIXED RATE MORTGAGES - SETTLEMENT 6/25/97
<TABLE>
<CAPTION>
Principal
Zip Balance at
Sale ID Account Name Address City State Code Origination
- ----------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C>
ML689 661463133 MCNALLY GERALD A 5007 240TH STREET EAST GRAHAM WA 98338 36,515.00
ML689 661464420 RITZ DENNIS G 763 EAST LABRUM AVENUE MURRAY UT 84107 49,527.00
ML689 661465153 JARVIS MICHAEL DEAN 2526 WALDEAN STREET COLORADO SPRINGS CO 80909 20,000.00
ML689 661465195 LAMONT DAVID W 583 CANYON POINT CIRCLE GOLDEN CO 80403 45,400.00
ML689 661465302 GAUTAVAI TAAGA 1145 EAST 250 SOUTH BOUNTIFUL UT 84010 60,266.00
ML689 661465666 BELFOUR DIANE LATHER 11434 WEST ROXBURY DRIVE LITTLETON CO 80127 194,044.00
ML689 661466466 PECK KORWYN 185 EAST 4380 NORTH PROVO UT 84604 25,800.00
ML689 661467324 BEER JR PAUL E 1645 SOUTH JELLISON STREET LAKEWOOD CO 80232 36,000.00
ML689 661468512 RUSSEK JR FREDERICK 208 ULTRA DRIVE HENDERSON NV 89014 33,900.00
ML689 661469445 GEORGIEV MILENA S 29-31 NORTH 1000 WEST SALT LAKE CITY UT 84116 59,500.00
ML689 661469478 GARNER DONALD M 3864 WEST 11800 SOUTH RIVERTON UT 84065 60,000.00
ML689 661470666 SAMPLE DEANNA S 4426 DRIFTWOOD PLACE BOULDER CO 80301 30,000.00
------------------------------------- ----------------
140 Sale Total 6,167,738.00
<CAPTION>
Cut-off Date First Original Current Scheduled
Principal Payment Maturity Rem Date LTV Mortgage Payment
Sale ID Account Balance Date Date Term Due Ratio Rate Int & Prin
- ------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
ML689 661463133 36,352.56 06/01/97 05/01/12 179.00 07/01/97 84.4 12.500 450.06
ML689 661464420 49,326.47 05/01/97 04/01/12 178.00 07/01/97 69.7 13.850 654.59
ML689 661465153 20,000.00 06/01/97 05/01/12 179.00 06/01/97 78.3 13.990 266.21
ML689 661465195 45,400.00 06/01/97 05/01/12 179.00 07/01/97 79.9 11.250 440.95
ML689 661465302 58,583.18 05/02/97 04/02/17 238.03 09/02/97 61.7 13.850 742.86
ML689 661465666 193,964.35 06/01/97 05/01/27 359.00 07/01/97 82.5 12.250 2,033.38
ML689 661466466 25,800.00 05/04/97 04/04/12 178.09 06/04/97 89.9 11.950 308.81
ML689 661467324 35,974.47 06/01/97 05/01/17 239.00 07/01/97 84.8 12.750 415.37
ML689 661468512 33,900.00 06/01/97 05/01/12 179.00 06/01/97 89.8 12.350 357.86
ML689 661469445 59,500.00 06/01/97 05/01/27 359.00 06/01/97 85.0 12.750 646.58
ML689 661469478 59,975.25 05/16/97 04/16/12 178.49 06/16/97 73.3 15.100 843.87
ML689 661470666 30,000.00 06/01/97 05/01/12 179.00 06/01/97 62.6 10.400 272.18
--------------------- --------- --------------------------
140 6,157,251.32 207.97 76.3 12.129 68,110.62
</TABLE>
<PAGE>
Page 5 6/24/97
ALLIANCE FUNDING COMPANY
A DIVISION OF SUPERIOR BANK FSB
SALE SCHEDULE
1997-2 CLASS 1 - INITIAL POOL OF FIXED RATE MORTGAGES - SETTLEMENT 6/25/97
<TABLE>
<CAPTION>
Principal
Zip Balance at
Sale ID Account Name Address City State Code Origination
- ----------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C>
ML691 661406157 LYONS VICKIE 27641 SOUTH SKINNER ROAD ESTACADA OR 97023 20,500.00
ML691 661413757 HOLMES ROY L 1504 WILLSHIRE DRIVE COLORADO SPRINGS CO 80906 31,200.00
ML691 661413963 BEDNARIK GERALD E JR 52 JOHNSON ROAD ABERDEEN WA 98520 42,600.00
ML691 661419374 HARRIS TERRY L 6985 GAYLE LYN LANE COLORADO SPRINGS CO 80919 12,645.00
ML691 661427278 ABASI ASHRAF SHAFIQ 7913 WILLOWRIDGE COURT FAIR OAKS CA 95628 144,500.00
ML691 661428029 MCDANIEL JOSIE 424 W 98TH ST CHICAGO IL 60628 41,000.00
ML691 661428714 O'DONNELL DESMOND 11301 VALLEY OAK DRIVE OAKDALE CA 95361 71,644.00
ML691 661430272 SMITH STEPHEN 6569 SOUTH 2600 EAST SALT LAKE CITY UT 84121 25,670.00
ML691 661433011 LITTLE CLEVELAND 8739 SOUTH EUCLID CHICAGO IL 60617 37,000.00
ML691 661433854 KOCHOU JOSEPH 5115 CHASE SKOKIE IL 60077 30,000.00
ML691 661435263 EATCHEL DOROTHY 78 WEST RUSSETT AVENUE SALT LAKE CITY UT 84115 12,400.00
ML691 661435594 GILEADI AVRAHAM 125 EAST SPRING DRIVE WOODLAND HILLS UT 84653 43,050.00
ML691 661436378 KELLEY KURT 147 CALLE LARGA LOS GATOS CA 95030 63,147.00
ML691 661436691 HUTCHINS LARRY E 102 WEST HANCOCK AVENUE WILLIAMS AZ 86046 28,000.00
ML691 661437491 BOWEN BARTLEY 4510 SOUTH WORMWOOD DRIVE WEST VALLEY CITY UT 84120 46,650.00
ML691 661438432 CAIN SR RICHARD D 31005 WEST LAKE MORTON DRI KENT WA 98042 39,400.00
ML691 661439521 ASTORGA JAVIER 811 WEST 1000 NORTH WEST BOUNTIFUL UT 84087 35,300.00
ML691 661440248 SHAGENA J LLOYD 1321 DIVISION PORT HURON MI 48060 33,800.00
ML691 661440602 COFFIN JOHN 3604 WEST WALTON AVENUE SPOKANE WA 99205 13,108.00
ML691 661441782 GILLIGAN CHRISTINA M 1205 NORTH PERRY LOOP KENNEWICK WA 99336 21,145.00
ML691 661442269 JHOOTY BALWINDER SINGH 7549 ORANGE DRIVE CITRUS HEIGHTS CA 95610 45,500.00
ML691 661442905 BANKS MICHAELA U 1375 80TH AVENUE OAKLAND CA 94621 19,500.00
ML691 661444398 HENDERSON LEROY 1820 TORBENSON DRIVE CLEVELAND OH 44112 29,000.00
ML691 661446393 GALANG ALEXANDER 2191 WELLINGTON DRIVE MILPITAS CA 95035 77,500.00
ML691 661446930 ACIERTO ALFRED 4122 NORTH HERMITAGE AVENU CHICAGO IL 60613 60,700.00
ML691 661447185 CAPLE GREGORY 38 E. 104TH ST. CHICAGO IL 60628 61,200.00
ML691 661447474 CHURCHILL TIMOTHY D 1408 W. TEMPERANCE TEMPERANCE MI 48182 35,000.00
ML691 661448076 DEL ROSARIO 4316 SAYOKO CIRCLE SAN JOSE CA 95136 41,099.00
ML691 661448175 FRIEDMAN GREGG B 6122 EAST CALLE TUBERIA SCOTTSDALE AZ 85251 48,552.00
ML691 661448845 JOYCE KATHY E 408 FERNDALE COURT COPIAGUE NY 11726 95,000.00
ML691 661450239 WECHSLER JONATHAN A 1807 E AUGUSTA AVENUE PHOENIX AZ 85020 27,500.00
ML691 661450312 PAREDES EDWING 8989 XAVIER STREET WESTMINSTER CO 80030 114,000.00
ML691 661450601 MILES CHARLOTTE 1309 EAST CARTER DRIVE TEMPE AZ 85282 19,900.00
ML691 661450783 AUSTON THOMAS L 3948 NORTH CARNATION LANE AVONDALE AZ 85223 25,950.00
ML691 661451401 OLSON OVE S 8660 MAUI LANE PEORIA AZ 85381 62,950.00
ML691 661451419 DULL W DANIEL 10130 NORTHEAST 110TH STRE KIRKLAND WA 98033 84,686.00
ML691 661451484 HARTSOCK HAROLD 515 EAST AVENUE GLENSIDE PA 19038 27,190.00
ML691 661452888 THOMAS MARK 1010 LINCOLN STREET THE DALLES OR 97058 12,100.00
ML691 661452904 MUHLESTEIN MICHAEL R 6671 WEST 4145 SOUTH WEST VALLEY UT 84120 31,692.00
ML691 661452920 SMITH JANA LYNN 1426 SOUTH ELM STREET DENVER CO 80222 30,000.00
ML691 661453241 LYON LAVONIA LEA 205 WEST BURNETT ROAD ISLAND LAKE IL 60042 40,000.00
ML691 661453290 CUSICK JOSEPH M 318 EAST 43RD STREET COVINGTON KY 41015 85,500.00
ML691 661454140 CARLSON SHAWNA K 397 NORTH 1180 EAST PLEASANT GROVE UT 84062 22,612.00
ML691 661454587 STEPHENS GARY L 1882 EAST 10300 SOUTH SANDY UT 84092 73,279.00
ML691 661455063 RIGSBY EXIE 309 WEST 103RD STREET CHICAGO IL 60628 25,000.00
ML691 661455212 HOLCOMBE SCOTT 9325 LYLE MEADOWS CLIO MI 48420 89,200.00
ML691 661455287 RODENISH FRED 3824 HELEN STREET HARRISON MI 48625 48,000.00
ML691 661455675 GADWOOD TINA 20575 SW WYNGATE STREET ALOHA OR 97007 22,855.00
ML691 661456129 MEHRJOO ISA 47373 SEVEN MILE RD NORTHVILLE MI 48167 127,500.00
ML691 661456327 MABEY JAMES M 14041 SOUTH OLD SADDLE ROA DRAPER UT 84020 258,300.00
ML691 661457101 RISTOW GERALD 11816 29TH AVENUE SOUTHEAS EVERETT WA 98208 22,244.00
ML691 661457218 WILSON PATRICIA J 1720 WEST 13TH STREET MUNCIE IN 47302 28,880.00
ML691 661457358 BERRY STEVEN E 100 SOUTH 250 WEST WILLARD UT 84340 27,923.00
ML691 661457366 MEYERS LAWRENCE G 1290 EAST 1375 NORTH LAYTON UT 84040 50,450.00
ML691 661457929 HOLEMAN DONALD C 10612 SOMERSET DETROIT MI 48224 20,000.00
ML691 661458356 CAMIRE JIM 336 WEST DUNLOP DRIVE PUEBLO WEST CO 81007 25,000.00
ML691 661458455 BASS LEE A 4852 WEST EDINBURGH LANE WEST JORDAN UT 84088 36,260.00
ML691 661459172 ANDERSON APRIL D 1965 SWEARINGER DRIVE COLORADO SPRINGS CO 80906 11,210.00
ML691 661459339 BARRICELLI JOSEPH 391 SHERBOURNE ROAD VALLEY STREAM NY 11580 29,500.00
ML691 661459883 HAYES JAMES P 18444 EAST CLOUD ROAD QUEEN CREEK AZ 85242 15,160.00
ML691 661460006 MACKALL FREDERICK W 6631 NORTH HILLSIDE WAY PARKER CO 80134 12,250.00
ML691 661460691 TODD JAMES W 5402 EAST CALLE DEL MEDIO PHOENIX AZ 85018 122,200.00
ML691 661461194 JOHNSON EMMA 680 FREDERICK BOULEVARD AKRON OH 44320 49,600.00
ML691 661461327 KUPISCH GRANT E 1042 SOUTH DAVID DRIVE BENSENVILLE IL 60106 63,000.00
<CAPTION>
Cut-off Date First Original Current Scheduled
Principal Payment Maturity Rem Date LTV Mortgage Payment
Sale ID Account Balance Date Date Term Due Ratio Rate Int & Prin
- ---------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
ML691 661406157 20,500.00 06/01/97 05/01/12 179.00 06/01/97 29.1 9.850 177.63
ML691 661413757 31,049.36 03/18/97 02/18/12 176.61 06/18/97 45.3 15.590 449.35
ML691 661413963 42,600.00 04/01/97 03/01/12 177.00 06/01/97 74.6 14.450 580.26
ML691 661419374 12,645.00 04/14/97 03/14/12 177.40 06/14/97 68.8 12.100 152.58
ML691 661427278 144,500.00 04/07/97 03/07/12 177.17 05/07/97 85.0 12.300 1,519.80
ML691 661428029 41,000.00 06/01/97 05/01/12 179.00 06/01/97 47.6 11.750 413.86
ML691 661428714 71,644.00 07/01/97 06/01/17 240.00 07/01/97 89.4 11.350 756.64
ML691 661430272 25,670.00 06/01/97 05/01/12 179.00 06/01/97 79.5 14.700 318.43
ML691 661433011 37,000.00 05/23/97 04/23/27 358.72 05/23/97 67.2 12.500 394.89
ML691 661433854 29,899.18 05/14/97 04/14/17 238.42 06/14/97 85.0 13.000 351.47
ML691 661435263 12,400.00 04/01/97 03/01/12 177.00 06/01/97 85.5 12.750 154.86
ML691 661435594 43,050.00 05/01/97 04/01/12 178.00 06/01/97 84.9 14.000 510.09
ML691 661436378 63,147.00 06/01/97 05/01/12 179.00 06/01/97 90.0 11.750 637.41
ML691 661436691 28,000.00 06/01/97 05/01/12 179.00 06/01/97 69.8 11.750 331.56
ML691 661437491 46,650.00 05/01/97 04/01/12 178.00 06/01/97 79.9 12.550 499.69
ML691 661438432 39,400.00 05/01/97 04/01/12 178.00 06/01/97 89.9 12.750 492.04
ML691 661439521 35,173.90 05/04/97 04/04/12 178.09 07/04/97 79.8 15.350 456.24
ML691 661440248 33,774.11 05/09/97 04/09/12 178.26 06/09/97 65.0 11.500 334.72
ML691 661440602 12,963.53 06/01/97 05/01/12 179.00 07/01/97 79.8 13.000 165.85
ML691 661441782 21,145.00 06/01/97 05/01/17 239.00 06/01/97 88.1 11.750 229.15
ML691 661442269 45,500.00 06/01/97 05/01/12 179.00 06/01/97 83.2 12.800 496.22
ML691 661442905 19,500.00 06/01/97 05/01/12 179.00 06/01/97 86.6 12.100 202.08
ML691 661444398 28,953.79 06/01/97 05/01/17 239.00 07/01/97 87.8 10.900 297.36
ML691 661446393 77,500.00 05/01/97 04/01/12 178.00 06/01/97 90.0 12.350 818.11
ML691 661446930 60,700.00 06/01/97 04/15/12 179.00 06/01/97 79.1 12.525 691.41
ML691 661447185 61,200.00 05/25/97 04/25/27 358.78 05/25/97 85.0 9.400 510.14
ML691 661447474 34,927.22 05/01/97 04/01/12 178.00 06/01/97 48.1 10.750 392.33
ML691 661448076 41,099.00 05/01/97 04/01/12 178.00 06/01/97 85.0 13.700 539.07
ML691 661448175 48,552.00 06/01/97 05/01/12 179.00 06/01/97 85.0 13.000 537.08
ML691 661448845 94,951.73 05/21/97 04/21/12 178.65 06/21/97 79.1 9.600 997.75
ML691 661450239 27,500.00 06/01/97 05/01/12 179.00 06/01/97 82.9 12.150 332.70
ML691 661450312 114,000.00 05/01/97 04/01/12 178.00 06/01/97 89.9 11.350 1,115.90
ML691 661450601 19,885.52 06/01/97 05/01/12 179.00 07/01/97 84.9 13.550 228.72
ML691 661450783 25,950.00 05/01/97 04/01/12 178.00 06/01/97 89.9 12.350 317.31
ML691 661451401 62,950.00 05/01/97 04/01/12 178.00 06/01/97 84.9 11.100 719.45
ML691 661451419 84,686.00 06/01/97 05/01/12 179.00 06/01/97 83.2 12.750 1,057.59
ML691 661451484 27,119.71 06/01/97 05/01/12 179.00 07/01/97 84.7 11.250 313.32
ML691 661452888 12,100.00 06/01/97 05/01/12 179.00 06/01/97 64.0 10.100 130.77
ML691 661452904 31,692.00 05/18/97 04/18/12 178.55 05/18/97 79.9 15.350 451.18
ML691 661452920 30,000.00 06/01/97 05/01/12 179.00 06/01/97 79.8 12.200 313.21
ML691 661453241 40,000.00 06/01/97 05/01/17 239.00 06/01/97 60.4 11.350 422.45
ML691 661453290 85,500.00 05/21/97 04/21/27 358.65 06/21/97 90.0 11.550 849.96
ML691 661454140 22,612.00 06/01/97 05/01/12 179.00 06/01/97 79.9 13.500 293.58
ML691 661454587 73,279.00 06/01/97 05/01/12 179.00 06/01/97 89.9 12.050 756.58
ML691 661455063 24,739.51 05/28/97 04/28/07 118.88 06/28/97 35.7 9.800 327.61
ML691 661455212 89,200.00 06/01/97 05/01/12 179.00 06/01/97 80.0 12.600 958.92
ML691 661455287 48,000.00 06/01/97 05/01/12 179.00 06/01/97 78.6 14.700 595.43
ML691 661455675 22,849.02 05/18/97 04/18/17 238.55 06/18/97 84.9 13.350 273.48
ML691 661456129 127,500.00 06/01/97 05/01/12 179.00 06/01/97 85.0 12.950 1,405.42
ML691 661456327 258,300.00 05/01/97 04/01/12 178.00 06/01/97 89.9 11.300 2,518.58
ML691 661457101 22,244.00 05/07/97 04/07/12 178.19 06/07/97 85.0 14.100 297.73
ML691 661457218 28,880.00 07/01/97 06/01/12 180.00 07/01/97 80.0 13.500 330.80
ML691 661457358 27,842.54 05/15/97 04/15/12 178.45 06/15/97 77.0 15.350 397.52
ML691 661457366 50,378.24 06/01/97 05/01/12 179.00 07/01/97 85.0 12.400 534.52
ML691 661457929 20,000.00 05/28/97 04/28/12 178.88 05/28/97 41.6 11.750 236.83
ML691 661458356 24,940.04 06/01/97 05/01/12 179.00 07/01/97 19.6 9.400 259.55
ML691 661458455 36,260.00 06/01/97 05/01/12 179.00 06/01/97 89.9 11.550 360.46
ML691 661459172 11,210.00 06/01/97 05/01/12 179.00 06/01/97 89.9 11.400 130.24
ML691 661459339 29,500.00 06/01/97 05/01/07 119.00 06/01/97 74.9 12.990 440.29
ML691 661459883 15,160.00 06/01/97 05/01/12 179.00 06/01/97 75.8 13.000 191.81
ML691 661460006 12,250.00 06/01/97 05/01/12 179.00 06/01/97 80.0 13.000 135.51
ML691 661460691 122,200.00 06/01/97 05/01/12 179.00 06/01/97 89.9 12.050 1,261.67
ML691 661461194 49,600.00 06/01/97 05/01/27 359.00 06/01/97 80.0 13.350 562.28
ML691 661461327 63,000.00 05/23/97 04/23/17 238.72 05/23/97 84.8 12.750 726.90
</TABLE>
<PAGE>
Page 6 6/24/97
ALLIANCE FUNDING COMPANY
A DIVISION OF SUPERIOR BANK FSB
SALE SCHEDULE
1997-2 CLASS 1 - INITIAL POOL OF FIXED RATE MORTGAGES - SETTLEMENT 6/25/97
<TABLE>
<CAPTION>
Principal
Zip Balance at
Sale ID Account Name Address City State Code Origination
- ----------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C>
ML691 661461939 BROWN MARC 8854 SOUTH ROCKY CREEK DRI WEST JORDAN UT 84088 28,000.00
ML691 661462036 LOPEZ ANTONIO 16 THIRD STREET HOLBROOK NY 11741 54,500.00
ML691 661462044 KELLY SUZANNE R 4142 MADISON BROOKFIELD IL 60513 18,000.00
ML691 661462564 CHERRY SHAWN 2390 WEST 5825 SOUTH ROY UT 84067 16,500.00
ML691 661462572 LUCIANI VINCENT 43 MONK STREET COLORADO SPRINGS CO 80911 22,000.00
ML691 661462606 DRAKE CLINT ARON 123 49TH AVENUE COURT GREELEY CO 80634 29,049.00
ML691 661463075 IRISH SHAWN 925 SCEPTER COURT NE SALEM OR 97301 22,133.00
ML691 661463109 KURTZMAN ELON M 1917 E LAMAR ROAD PHOENIX AZ 85016 15,000.00
ML691 661463158 AGACKI ALLEN J. 6268 DUNN AVENUE SAN JOSE CA 95123 75,000.00
ML691 661463166 BUERGER DI ANNA R 6719 EAST 6TH STREET SCOTTSDALE AZ 85251 22,292.00
ML691 661463307 WEST ALAN 304 ST CLAIR AVENUE SW NEW PHILADELPHIA OH 44663 21,100.00
ML691 661463935 RUDDELL LEWIS J 204 NORTH 2800 EAST LAYTON UT 84040 28,800.00
ML691 661464255 THORSBY EDWARD 442 N PARK AVENUE FOND DU LAC WI 54935 67,500.00
ML691 661464677 PEPPAS DENNIS 6405 SOUTH WIND CIRCLE COLUMBIA MD 21044 45,348.00
ML691 661464693 PAPPAS KARYL LAVONNE 11417 KEY WEST DRIVE NE ALBUQUERQUE NM 87111 36,000.00
ML691 661464834 JANDT CLARK R 4459 114TH STREET NORTHWES MAPLE LAKE MN 55358 39,200.00
ML691 661465161 TIJERINA JOSE A 1307 LARCH STREET CALDWELL ID 83605 12,450.00
ML691 661465609 MORRIS PAUL G 5579 WALN CREEK COURT SOUT SALEM OR 97306 18,000.00
ML691 661465658 PALONY DONALD P 1758 RUTH STREET MAPLEWOOD MN 55109 12,779.00
ML691 661465716 HURYLOVICH JOSEPH 64-41 58TH ROAD MASPETH NY 11378 17,300.00
ML691 661465849 O'SHEA PATRICIA ANN 8230 HIGHLAND AVENUE DOWNERS GROVE IL 60516 20,000.00
ML691 661466243 JUDD KENNETH S 3744 WEST 12240 SOUTH PAYSON UT 84651 26,700.00
ML691 661466490 CHANEY CLIFFORD 5038 EL CAMINO DRIVE #64 COLORADO SPRINGS CO 80918 40,950.00
ML691 661466573 KITCHEN DAVID 6370 WEST DEWEY DRIVE LAS VEGAS NV 89118 80,500.00
ML691 661467407 WEBER DARRELL 14804 INTERLACHEN LANE BURNSVILLE MN 55306 92,250.00
ML691 661467472 MITCHELL DOUGLAS M 205 RIDGE DRIVE WOODLAND PARK CO 80863 63,476.00
ML691 661467787 KEMP WILLIAM III 14706 PEPPER AVENUE CLEVELAND OH 44110 58,000.00
ML691 661467894 BRECKA LINDA L 17W 511 MORNINGSIDE DR P.O. VILLA PARK IL 60181 99,000.00
ML691 661468009 TRELEVEN JAMES A JR 112 8TH STREET FOND DU LAC WI 54935 69,000.00
ML691 661468215 HALL R GARY 11825 NORTH 55TH PLACE PHOENIX AZ 85254 49,000.00
ML691 661468439 REED CRAIG D 477 DAWSON DRIVE CASTLE ROCK CO 80104 26,830.00
ML691 661468504 RUSSEK JR FREDERICK 2408 WEST LOMITA AVENUE MESA AZ 85202 49,700.00
ML691 661468520 MARTINEZ BENJAMIN L 50 WEST 1300 SOUTH BOUNTIFUL UT 84010 16,157.00
ML691 661468629 FRIERSON JEWEL C JR 7736 S SANGAMON ST CHICAGO IL 60620 21,000.00
ML691 661468926 PRICE LORIN R 110 EAST CELESTE DRIVE MIDVALE UT 84047 34,000.00
ML691 661468934 HASKINS DEAN B 326 SW ANGELINE AVENUE GRESHAM OR 97080 20,450.00
ML691 661469213 MAYO KENNETH R 5235 WAINWRIGHT DRIVE COLORADO SPRINGS CO 80911 13,000.00
ML691 661469239 ZIEMAN LISA A 861 SAGE SPARROW CIRCLE HIGHLANDS RANCH CO 80126 21,035.00
ML691 661469510 SNELL NED C 1101 SOUTH 2000 EAST SALT LAKE CITY UT 84108 113,000.00
ML691 661469536 PERSAD GLORIA 6232 LANSDOWNE CIRCLE BOYNTON BEACH FL 33437 20,785.00
ML691 661469643 VANG YER 8274 AMMONS CIRCLE ARVADA CO 80005 24,000.00
ML691 661469650 SZCZEPKOWSKI ANNETTE 1334 DOGWOOD LANE LONGMONT CO 80501 36,993.00
ML691 661469668 HUNT JEFFREY L 38787 NORTH MAIN STREET SCIO OR 97374 119,000.00
ML691 661469726 FLEISHMAN DAVID MICHAEL 1135 SOUTH WELCH CIRCLE LAKEWOOD CO 80228 32,357.00
ML691 661469825 PATTERSON GARY 951 CIMARRON DRIVE REDLANDS CA 92374 35,000.00
ML691 661470138 SHILLIS ARLENE L 3317 S. UNION CHICAGO IL 60616 45,000.00
ML691 661470500 KEIGLEY JACK L 2008 WEST GOLDEN VALLEY DR RIVERTON UT 84065 39,750.00
ML691 661470591 PEPLINSKI DIETER 16885 OAK BRUSH LOOP PEYTON CO 80831 32,391.00
ML691 661470633 HAAG ERIC 2272 EAST 3225 NORTH LAYTON UT 84040 15,000.00
ML691 661470740 HIGGINS JOHNNY R 608 ABBIE LANE SW ALBUQUERQUE NM 87105 75,000.00
ML691 661470856 CHRISTENSEN DENNIS 683 EAST 2150 SOUTH BOUNTIFUL UT 84010 38,000.00
ML691 661471102 SCHROEDER ARTHUR J. 5 SPRING GARDEN COURT LAKE IN THE HILLS IL 60102 36,000.00
ML691 661471375 COLLINGS PEGGY 4587 SOUTH KNIGHTSBRIDGE R TAYLORSVILLE UT 84119 44,000.00
ML691 661471383 JOHNSON TODD 4238 NORTH TABOR MESA AZ 85215 17,500.00
ML691 661471433 LUBY CONSTANCE R 33 INDEPENDENCE ROAD CRIPPLE CREEK CO 80813 15,500.00
ML691 661471870 GIBSON LESLIE 8831 SHERRI DRIVE MACEDONIA OH 44056 35,900.00
ML691 661472035 LUDWIG KEVIN H 12182 SOUTH 3040 WEST RIVERTON UT 84065 65,897.00
ML691 661473017 MERRYWEATHER CHRIS J 966 SOUTH 730 WEST PAYSON UT 84651 20,000.00
ML691 661473082 SULLIVAN BRIAN D 14125 127TH AVENUE S E SNOHOMISH WA 98290 25,000.00
ML691 661473322 BERGVINSSON LINDA 3009 44TH AVENUE WEST SEATTLE WA 98199 199,450.00
ML691 661473827 BOWERS HAROLD EUGENE JR 2233 NORTH 450 WEST SUNSET UT 84015 16,907.00
ML691 661473926 HOUSTON JOSH SR 755 KENTON STREET AURORA CO 80010 10,639.00
ML691 661474189 JONES J STEPHEN 6042 SOUTH SCORPIO DRIVE SALT LAKE CITY UT 84118 23,600.00
ML691 661474650 PHILLIPS BEVERLY S 12507 NORTH 4TH STREET PARKER CO 80134 105,000.00
<CAPTION>
Cut-off Date First Original Current Scheduled
Principal Payment Maturity Rem Date LTV Mortgage Payment
Sale ID Account Balance Date Date Term Due Ratio Rate Int & Prin
- --------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
ML691 661461939 28,000.00 06/01/97 05/01/12 179.00 06/01/97 89.2 12.500 298.83
ML691 661462036 54,500.00 06/05/97 05/05/07 119.11 06/05/97 80.9 10.990 750.43
ML691 661462044 18,000.00 06/05/97 05/05/12 179.11 06/05/97 71.0 10.800 202.33
ML691 661462564 16,443.80 05/16/97 04/16/12 178.49 06/16/97 89.8 12.750 206.06
ML691 661462572 22,000.00 06/01/97 05/01/12 179.00 06/01/97 79.8 11.150 252.13
ML691 661462606 29,049.00 06/01/97 05/01/12 179.00 06/01/97 84.3 12.500 358.04
ML691 661463075 22,133.00 07/01/97 06/01/12 180.00 07/01/97 89.9 11.800 224.26
ML691 661463109 15,000.00 06/01/97 05/01/12 179.00 06/01/97 65.7 12.750 187.33
ML691 661463158 74,885.96 06/01/97 05/01/17 239.00 07/01/97 89.9 12.750 865.36
ML691 661463166 22,292.00 06/01/97 05/01/17 239.00 06/01/97 85.0 12.750 257.21
ML691 661463307 21,100.00 06/01/97 05/01/17 239.00 06/01/97 64.9 14.240 266.07
ML691 661463935 28,800.00 06/01/97 05/01/12 179.00 06/01/97 89.9 11.800 341.95
ML691 661464255 67,414.19 05/28/97 04/28/12 178.88 06/28/97 90.0 11.550 790.68
ML691 661464677 45,348.00 06/01/97 05/01/12 179.00 06/01/97 89.6 11.150 519.70
ML691 661464693 35,919.72 06/01/97 05/01/12 179.00 07/01/97 79.4 11.500 420.55
ML691 661464834 39,171.63 05/23/97 04/23/12 178.72 06/23/97 74.9 12.350 479.33
ML691 661465161 12,450.00 06/01/97 05/01/12 179.00 06/01/97 90.0 11.800 126.15
ML691 661465609 18,000.00 06/01/97 05/01/12 179.00 06/01/97 70.7 12.500 221.85
ML691 661465658 12,743.51 05/23/97 04/23/12 178.72 06/23/97 78.3 12.150 154.60
ML691 661465716 17,300.00 06/01/97 05/01/17 239.00 06/01/97 12.3 10.650 174.47
ML691 661465849 20,000.00 05/21/97 04/21/17 238.65 06/21/97 81.5 11.050 207.12
ML691 661466243 26,613.14 06/01/97 05/01/12 179.00 07/01/97 79.9 10.550 245.23
ML691 661466490 40,950.00 07/01/97 06/01/27 360.00 07/01/97 65.0 9.900 356.34
ML691 661466573 80,500.00 06/01/97 05/01/12 179.00 06/01/97 80.8 12.700 871.65
ML691 661467407 92,250.00 06/01/97 05/01/12 179.00 06/01/97 84.4 12.750 1,002.47
ML691 661467472 63,476.00 07/01/97 06/01/12 180.00 07/01/97 89.9 11.800 643.17
ML691 661467787 58,000.00 06/05/97 05/05/17 239.11 06/05/97 84.0 10.300 571.29
ML691 661467894 99,000.00 06/01/97 05/01/17 239.00 06/01/97 55.0 12.375 1,116.07
ML691 661468009 69,000.00 06/07/97 05/07/12 179.18 06/07/97 88.4 11.150 790.76
ML691 661468215 49,000.00 06/01/97 05/01/12 179.00 06/01/97 87.5 13.100 545.87
ML691 661468439 26,830.00 06/01/97 05/01/12 179.00 06/01/97 84.9 12.900 294.70
ML691 661468504 49,700.00 06/01/97 05/01/12 179.00 06/01/97 89.9 12.350 524.65
ML691 661468520 16,157.00 06/01/97 05/01/12 179.00 06/01/97 74.7 13.250 207.09
ML691 661468629 21,000.00 06/01/97 05/01/17 239.00 06/01/97 85.7 13.000 246.03
ML691 661468926 33,607.34 06/01/97 05/01/27 359.00 07/01/97 28.5 10.550 312.28
ML691 661468934 20,450.00 06/01/97 05/01/12 179.00 06/01/97 85.0 13.000 226.22
ML691 661469213 13,000.00 07/01/97 06/01/12 180.00 07/01/97 78.9 10.550 144.11
ML691 661469239 21,035.00 06/01/97 05/01/12 179.00 06/01/97 84.0 13.000 266.14
ML691 661469510 112,491.01 06/01/97 05/01/12 179.00 07/01/97 89.9 10.900 1,067.60
ML691 661469536 20,746.81 06/01/97 05/01/12 179.00 07/01/97 80.1 13.500 238.07
ML691 661469643 24,000.00 06/01/97 05/01/17 239.00 06/01/97 87.0 11.650 258.43
ML691 661469650 36,993.00 06/01/97 05/01/12 179.00 06/01/97 89.9 12.300 389.08
ML691 661469668 119,000.00 06/01/97 05/01/12 179.00 06/01/97 85.0 9.650 1,013.67
ML691 661469726 32,357.00 06/01/97 05/01/12 179.00 06/01/97 84.8 11.550 321.66
ML691 661469825 35,000.00 06/01/97 05/01/12 179.00 06/01/97 90.0 11.800 354.64
ML691 661470138 45,000.00 05/28/97 04/28/17 238.88 05/28/97 34.0 12.000 495.49
ML691 661470500 39,750.00 07/01/97 06/01/12 180.00 07/01/97 89.9 11.900 405.82
ML691 661470591 32,391.00 07/01/97 06/01/12 180.00 07/01/97 79.9 10.550 359.05
ML691 661470633 15,000.00 07/01/97 06/01/12 180.00 07/01/97 88.3 11.900 153.14
ML691 661470740 75,000.00 06/01/97 05/01/12 179.00 06/01/97 75.0 12.500 800.44
ML691 661470856 37,971.33 06/01/97 05/01/12 179.00 07/01/97 89.7 11.900 387.95
ML691 661471102 35,926.15 06/01/97 05/01/12 179.00 07/01/97 84.2 12.500 443.71
ML691 661471375 44,000.00 07/01/97 06/01/12 180.00 07/01/97 79.7 13.850 581.54
ML691 661471383 17,500.00 06/01/97 05/01/12 179.00 06/01/97 80.0 13.000 221.42
ML691 661471433 15,460.35 06/01/97 05/01/12 179.00 07/01/97 47.3 9.850 165.14
ML691 661471870 35,900.00 06/07/97 05/07/12 179.18 06/07/97 89.9 12.430 381.20
ML691 661472035 65,841.77 05/15/97 04/15/12 178.45 06/15/97 89.0 11.950 788.76
ML691 661473017 19,942.27 05/15/97 04/15/17 238.45 06/15/97 85.8 11.950 219.52
ML691 661473082 25,000.00 06/01/97 05/01/12 179.00 06/01/97 78.3 12.650 269.73
ML691 661473322 199,165.58 06/01/97 05/01/12 179.00 07/01/97 81.2 12.500 2,128.65
ML691 661473827 16,660.95 05/17/97 04/17/12 178.52 07/17/97 78.8 15.350 240.69
ML691 661473926 10,639.00 07/01/97 06/01/12 180.00 07/01/97 89.3 11.900 127.00
ML691 661474189 23,600.00 06/06/97 05/06/12 179.15 06/06/97 88.0 13.250 302.49
ML691 661474650 104,906.64 06/01/97 05/01/27 359.00 07/01/97 75.0 8.990 844.10
</TABLE>
<PAGE>
Page 7 6/24/97
ALLIANCE FUNDING COMPANY
A DIVISION OF SUPERIOR BANK FSB
SALE SCHEDULE
1997-2 CLASS 1 - INITIAL POOL OF FIXED RATE MORTGAGES - SETTLEMENT 6/25/97
<TABLE>
<CAPTION>
Principal
Zip Balance at
Sale ID Account Name Address City State Code Origination
- ----------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C>
ML691 661474668 GRAHAM TERICIA 4050 SOD HOUSE TRAIL COLORADO SPRINGS CO 80917 18,500.00
ML691 661474676 KLEY TERRY E 78 EAST WASATCH STREET MIDVALE UT 84047 65,000.00
ML691 661474718 MCMAHON JUDY 2053 WEST 4100 SOUTH TAYLORSVILLE UT 84119 31,500.00
ML691 661474833 CODLING CRAIG 164 EAST 2000 NORTH OREM UT 84057 43,800.00
ML691 661474916 HALLMAN MARILYN 107 W MAPLE AVENUE ROSELLE IL 60172 104,900.00
ML691 661475632 DICKEY RICHARD I 1630 DORCHESTER PLACE COLORADO SPRINGS CO 80906 12,000.00
ML691 661476028 KESTLER RAYMOND 1210 WOODRIDGE STREET ROUND LAKE BEACH IL 60073 15,000.00
ML691 661476382 JONES FREDERICK P SR 10344 EL RANCHO DRIVE SUN CITY AZ 85351 76,500.00
ML691 661476770 SELMER MICHAEL P JR 645 LONG CORNER ROAD MOUNT AIRY MD 21771 48,330.00
ML691 661477661 HOCHBRUNN THOMAS 8859 KNOLLWOOD DRIVE EDEN PRAIRIE MN 55347 22,000.00
ML691 661479287 KINDRED PAUL 2655 12TH AVENUE GREELEY CO 80631 26,500.00
ML691 661480616 SMITH DAVID W 1644 SOUTH WILFORD DRIVE KAYSVILLE UT 84037 62,500.00
ML691 661483131 SPENCER LEROY 11080 NORTH 10800 WEST THATCHER UT 84337 23,687.00
ML691 661483529 HANSON DAVID 8367 SOUTH 2960 WEST WEST JORDAN UT 84088 42,206.00
------------------------------------- ----------------
142 Sale Total 6,283,792.00
<CAPTION>
Cut-off Date First Original Current Scheduled
Principal Payment Maturity Rem Date LTV Mortgage Payment
Sale ID Account Balance Date Date Term Due Ratio Rate Int & Prin
- -------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
ML691 661474668 18,500.00 07/01/97 06/01/17 240.00 07/01/97 69.9 12.000 203.70
ML691 661474676 65,000.00 07/01/97 06/01/12 180.00 07/01/97 89.5 11.900 663.60
ML691 661474718 31,500.00 07/01/97 06/01/17 240.00 07/01/97 84.8 12.750 363.45
ML691 661474833 43,800.00 07/01/97 06/01/12 180.00 07/01/97 87.4 11.900 447.16
ML691 661474916 104,790.95 05/28/97 04/28/17 238.88 06/28/97 69.9 10.650 1,057.89
ML691 661475632 12,000.00 07/01/97 06/01/12 180.00 07/01/97 57.0 11.000 136.39
ML691 661476028 15,000.00 06/08/97 05/08/12 179.21 06/08/97 34.3 12.500 184.88
ML691 661476382 76,500.00 07/01/97 06/01/12 180.00 07/01/97 85.0 12.500 816.45
ML691 661476770 48,190.16 06/01/97 05/01/12 179.00 07/01/97 73.5 11.250 556.93
ML691 661477661 22,000.00 06/01/97 05/01/12 179.00 06/01/97 79.2 12.750 274.74
ML691 661479287 26,500.00 07/01/97 06/01/12 180.00 07/01/97 89.8 11.800 268.51
ML691 661480616 62,500.00 05/28/97 04/28/17 238.88 05/28/97 86.6 12.750 721.13
ML691 661483131 23,687.00 05/28/97 04/28/07 118.88 05/28/97 79.9 11.950 339.16
ML691 661483529 42,206.00 06/01/97 05/01/12 179.00 06/01/97 89.9 13.250 540.97
---------------------- ------ --------------------------
142 6,279,958.66 198.19 80.7 12.025 68,858.81
</TABLE>
<PAGE>
Page 8 6/24/97
ALLIANCE FUNDING COMPANY
A DIVISION OF SUPERIOR BANK FSB
SALE SCHEDULE
1997-2 CLASS 1 - INITIAL POOL OF FIXED RATE MORTGAGES - SETTLEMENT 6/25/97
<TABLE>
<CAPTION>
Principal
Zip Balance at
Sale ID Account Name Address City State Code Origination
- ----------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C>
ML694 661205880 CARPIO RUSSELL J 2709 NE 91ST WAY VANCOUVER WA 98665 22,341.00
ML694 661406439 AUTTERSON CHARLES JAMES 163 CAMINO ARROYO SOUTH PALM DESERT CA 92260 32,845.00
ML694 661430140 DILTS LEONARD LEE 6650 WALKER ROAD COLORADO SPRINGS CO 80908 33,634.00
ML694 661431189 SINGLETON NAMON II 5567 NORTHWEST MILLGLADE L BREMERTON WA 98312 48,100.00
ML694 661440321 MORIN CHRISTOPHE J 3835 VICKSBURG TERRACE COLORADO SPRINGS CO 80917 44,600.00
ML694 661444208 HORSLEY WILLARD 7652 BROKEN WAGON WAY PRESCOTT VALLEY AZ 86314 45,000.00
ML694 661444976 AYALA VICTOR 4035 MADISON STREET DENVER CO 80216 22,300.00
ML694 661445163 OLSEN BRENT L 8191 SOUTH 2360 WEST WEST JORDAN UT 84088 27,000.00
ML694 661446765 HARRIS EDWARD 334 WEST 97TH STREET CHICAGO IL 60628 40,000.00
ML694 661446823 TOYODA TOSHIYA 41906 RIDGE EAST NOVI MI 48375 30,600.00
ML694 661449033 VILLARCE JULIO 5106 W ALTGELD STREET CHICAGO IL 60639 21,700.00
ML694 661451518 CULP DARLENE 17275 BRAILE DETROIT MI 48219 28,000.00
ML694 661453498 RAULS ARTHUR W JR 225 CHAPLEAU STREET NORTH FOND DU LAC WI 54937 31,100.00
ML694 661454637 MCCONKEY DAVE 5303 141ST PLACE NW STANWOOD WA 98292 61,500.00
ML694 661456681 GORDON LESLIE A 217 BEST STREET BEDFORD OH 44146 16,000.00
ML694 661458109 HARRIS JOYCE 604 EAST 13TH STREET MUNCIE IN 47302 17,100.00
ML694 661458463 BISH JACK C JR 5880 C HIGHWAY 45 NAMPA ID 83686 50,745.00
ML694 661460139 HONEY DAVID 1522 NORTH OAK LANE PROVO UT 84604 59,000.00
ML694 661462028 HERNANDEZ BARRY 4405 PINE AVENUE BREMERTON WA 98310 19,000.00
ML694 661462598 JOJOLA DANIEL RICHARD 2786 WEST 104TH PLACE WESTMINSTER CO 80234 56,000.00
ML694 661462721 CODY WILLIAM J 4827 63RD AVENUE SE OLYMPIA WA 98513 27,388.00
ML694 661462861 DRAKE RONALD 1856 WEST 7400 SOUTH WEST JORDAN UT 84084 46,677.00
ML694 661462994 BASANESE JOHN A 6462 APPLEGATE DRIVE SAN JOSE CA 95119 48,495.00
ML694 661463190 KILLIAN STEVEN 44 SYRACUSE AVENUE MEDFORD NY 11763 35,100.00
ML694 661463455 PERCY CONNIE M 19547 GOULBURN DETROIT MI 48206 39,900.00
ML694 661463968 TRAN THIEU TAN 10401 PALM STREET NW COON RAPIDS MN 55433 14,591.00
ML694 661464149 ARNOLD DON SIGLER 710 N FRANKLIN STREET VALPARAISO IN 46383 20,000.00
ML694 661466706 MAERLING WILLIAM E 4520 E THISTLE LANDING DRI PHOENIX AZ 85044 17,000.00
ML694 661466755 SHERMAN WILLIAM 1175 BABCOCK ROAD COLORADO SPRINGS CO 80915 22,000.00
ML694 661467092 HESTER DERRELL 20453 ROSELAWN DETROIT MI 48221 13,000.00
ML694 661467654 WALKER TERRY M 14325 WEST WESLEY CIRCLE LAKEWOOD CO 80228 38,892.00
ML694 661467696 BURNETT PHYLLIS O 1 LA MARCUS AVENUE GLEN COVE NY 11542 32,400.00
ML694 661467704 GRANEY-CONOV COLLEEN 2760 W 96TH ST EVERGREEN PARK IL 60805 37,500.00
ML694 661468587 BAKER DALE ARTHUR 2022 15TH STREET SOUTHEAST ROCHESTER MN 55904 54,900.00
ML694 661469130 CHAMBERS ALAN 4934 WEST 1400 SOUTH CEDAR CITY UT 84720 27,657.00
ML694 661469874 SWANK GLENDA 6615 ZANG STREET ARVADA CO 80004 27,480.00
ML694 661469932 CONROY WILLIAM L JR 7680 HYDE AVENUE SOUTH COTTAGE GROVE MN 55016 26,800.00
ML694 661469940 HORNOWSKI CHESTER R 2860 N DRAKE AVE CHICAGO IL 60618 30,000.00
ML694 661471292 BROWN JAMES 1879 SUMMERNIGHT TERRACE COLORADO SPRINGS CO 80909 22,497.00
ML694 661472324 HALL MARK S 408 IRVING STREET BELLINGHAM WA 98225 23,389.00
ML694 661472332 SCHENCK CLIFFORD 503 CHICAGO ST SE ALBANY OR 97321 48,778.00
ML694 661472415 LILLARD JAN 353 BELLAIRE STREET DENVER CO 80220 60,000.00
ML694 661472878 GRAHAM DANIEL 2080 SATHER DRIVE COLORADO SPRINGS CO 80915 22,700.00
ML694 661473116 ANDERSON JAMES JR 4170 SOUTH LIPAN STREET ENGLEWOOD CO 80110 93,500.00
ML694 661473439 NEUROHR JOHN 9 SLIGO AVENUE HUNTINGTON NY 11743 23,400.00
ML694 661474858 JOHNSTON DONALD 508 NORTH CENTER STREET SALT LAKE CITY UT 84103 68,900.00
ML694 661475129 CLAUS SANDRA 4384 NORTH BLISSFUL CIRCLE COLORADO SPRINGS CO 80917 34,842.00
ML694 661475350 LIPSON SARA-ANN 2611 SUMMERVIEW PLACE HENDERSON NV 89014 38,420.00
ML694 661476341 LUCKART PHILLIP 2613 SOUTH TWAIN DRIVE MAGNA UT 84044 34,000.00
ML694 661476515 HAYSON MARY 8967 WEST 66TH PLACE ARVADA CO 80004 49,878.00
ML694 661476564 ROBINETTE CHARLES 44219 SPARROW DRIVE FREMONT CA 94539 28,400.00
ML694 661476804 MURPHY GLEN 34174 GOLDENROD CIRCLE ELIZABETH CO 80107 28,069.00
ML694 661476820 CUNNINGHAM KING 18959 EAST MONTANA DRIVE AURORA CO 80017 97,750.00
ML694 661477281 HILTON DOUGLAS 1328 EAST VALLEY RIDGE DRI SANDY UT 84093 68,827.00
ML694 661477398 SHOALS MYRL K 6935 WEST 80TH CIRCLE ARVADA CO 80003 35,000.00
ML694 661477471 OSLER LARRY E 4107 SOUTH ACOMA STREET ENGLEWOOD CO 85910 14,400.00
ML694 661477984 WILLIAMS WILBUR 4030 CHENANGO DRIVE COLORADO SPRINGS CO 80911 38,600.00
ML694 661478446 MCCLEERY VAL M 1848 EAST CRESCENT VIEW DR SANDY UT 84092 55,000.00
ML694 661479089 JENSEN MARK E 725 NORTH 98TH STREET SEATTLE WA 98103 42,650.00
ML694 661479212 HAYDEN BRETT W 3793 SOUTH CENTENNIAL ROAD MAGNA UT 84044 12,374.00
ML694 661479485 KAPORIS LOUIS J 136 MORA ROAD CARPENTERSVILLE IL 60110 27,500.00
ML694 661480525 HENSON WILLIAM B JR 1303 HARTFORD STREET COLORADO SPRINGS CO 80906 19,687.00
ML694 661480566 MCCOY STEPHEN 13032 42ND AVENUE WEST MUKILTEO WA 98275 73,000.00
ML694 661480855 PULMAN LINDA 1002 PANORAMA DRIVE COLORADO SPRINGS CO 80904 33,000.00
<CAPTION>
Cut-off Date First Original Current Scheduled
Principal Payment Maturity Rem Date LTV Mortgage Payment
Sale ID Account Balance Date Date Term Due Ratio Rate Int & Prin
- --------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
ML694 661205880 21,796.44 08/02/96 07/02/11 169.02 07/02/97 76.9 12.200 271.01
ML694 661406439 32,845.00 04/01/97 03/01/12 177.00 06/01/97 84.8 12.750 410.18
ML694 661430140 33,634.00 05/23/97 04/23/12 178.72 05/23/97 67.1 11.250 326.67
ML694 661431189 48,100.00 06/01/97 05/01/12 179.00 06/01/97 89.7 11.750 569.57
ML694 661440321 44,600.00 07/01/97 06/01/12 180.00 07/01/97 88.6 11.750 450.20
ML694 661444208 45,000.00 07/01/97 06/01/12 180.00 07/01/97 75.0 12.100 542.97
ML694 661444976 22,300.00 07/01/97 06/01/12 180.00 07/01/97 89.9 11.850 265.49
ML694 661445163 27,000.00 07/01/97 06/01/12 180.00 07/01/97 89.2 11.400 313.70
ML694 661446765 40,000.00 06/14/97 05/14/17 239.41 06/14/97 48.1 11.750 433.48
ML694 661446823 30,600.00 06/14/97 05/14/17 239.41 06/14/97 18.4 11.500 326.33
ML694 661449033 21,700.00 06/01/97 07/01/12 181.00 06/01/97 79.9 14.500 295.40
ML694 661451518 28,000.00 06/14/97 05/14/27 359.41 06/14/97 80.0 14.250 337.31
ML694 661453498 31,100.00 06/05/97 05/05/17 239.11 06/05/97 55.1 12.400 351.15
ML694 661454637 61,500.00 07/01/97 06/01/12 180.00 07/01/97 84.7 12.750 668.32
ML694 661456681 16,000.00 06/14/97 05/14/12 179.41 06/14/97 76.7 10.400 175.87
ML694 661458109 17,100.00 06/08/97 05/08/12 179.21 06/08/97 42.7 10.300 186.91
ML694 661458463 50,745.00 07/01/97 06/01/12 180.00 07/01/97 84.9 12.750 551.44
ML694 661460139 59,000.00 06/01/97 05/01/12 179.00 06/01/97 78.8 11.500 584.27
ML694 661462028 19,000.00 07/01/97 06/01/12 180.00 07/01/97 89.8 12.050 196.17
ML694 661462598 56,000.00 07/01/97 06/01/12 180.00 07/01/97 87.5 11.400 550.29
ML694 661462721 27,388.00 07/01/97 06/01/12 180.00 07/01/97 85.0 12.750 297.62
ML694 661462861 46,677.00 06/01/97 05/01/12 179.00 06/01/97 84.9 11.000 444.52
ML694 661462994 48,495.00 07/01/97 06/01/17 240.00 07/01/97 79.8 11.250 508.84
ML694 661463190 35,100.00 06/07/97 05/07/07 119.18 06/07/97 54.9 10.500 473.62
ML694 661463455 39,900.00 06/01/97 05/01/12 179.00 06/01/97 84.8 12.400 489.18
ML694 661463968 14,591.00 07/01/97 06/01/12 180.00 07/01/97 85.0 10.300 159.48
ML694 661464149 20,000.00 06/16/97 05/16/07 119.47 06/16/97 60.1 10.275 267.36
ML694 661466706 17,000.00 07/01/97 06/01/12 180.00 07/01/97 78.1 14.350 230.41
ML694 661466755 22,000.00 07/01/97 06/01/17 240.00 07/01/97 39.0 12.000 242.24
ML694 661467092 13,000.00 06/05/97 05/05/12 179.11 06/05/97 65.0 14.240 156.51
ML694 661467654 38,892.00 07/01/97 06/01/12 180.00 07/01/97 89.9 11.800 461.78
ML694 661467696 32,400.00 06/08/97 05/08/12 179.21 06/08/97 61.8 10.400 356.14
ML694 661467704 37,500.00 06/09/97 05/09/17 239.24 06/09/97 84.7 12.150 416.84
ML694 661468587 54,900.00 06/01/97 05/01/17 239.00 06/01/97 69.9 9.900 526.16
ML694 661469130 27,657.00 07/01/97 06/01/12 180.00 07/01/97 79.9 13.250 311.36
ML694 661469874 27,480.00 07/01/97 06/01/12 180.00 07/01/97 85.0 12.500 338.70
ML694 661469932 26,800.00 06/12/97 05/12/12 179.34 06/12/97 89.8 11.800 318.20
ML694 661469940 30,000.00 06/12/97 05/12/12 179.34 06/12/97 89.8 12.650 323.67
ML694 661471292 22,497.00 07/01/97 06/01/12 180.00 07/01/97 79.9 11.250 259.24
ML694 661472324 23,389.00 07/01/97 06/01/12 180.00 07/01/97 89.9 11.800 277.70
ML694 661472332 48,778.00 07/01/97 06/01/12 180.00 07/01/97 90.0 12.300 513.03
ML694 661472415 60,000.00 07/01/97 06/01/17 240.00 07/01/97 54.0 11.850 654.39
ML694 661472878 22,700.00 07/01/97 06/01/12 180.00 07/01/97 77.9 11.250 261.58
ML694 661473116 93,500.00 07/01/97 06/01/27 360.00 07/01/97 85.0 12.250 979.78
ML694 661473439 23,400.00 06/21/97 05/21/07 119.64 06/21/97 89.9 11.900 334.37
ML694 661474858 68,900.00 07/01/97 06/01/12 180.00 07/01/97 85.0 13.450 786.48
ML694 661475129 34,842.00 07/01/97 06/01/12 180.00 07/01/97 79.8 13.990 463.77
ML694 661475350 38,420.00 07/01/97 06/01/17 240.00 07/01/97 84.9 9.650 361.90
ML694 661476341 33,864.59 05/22/97 04/22/12 178.68 06/22/97 66.3 12.350 358.91
ML694 661476515 49,878.00 07/01/97 06/01/12 180.00 07/01/97 90.0 11.550 584.26
ML694 661476564 28,400.00 07/01/97 06/01/12 180.00 07/01/97 90.0 11.900 339.02
ML694 661476804 28,069.00 07/01/97 06/01/12 180.00 07/01/97 79.9 12.400 297.39
ML694 661476820 97,750.00 07/01/97 06/01/27 360.00 07/01/97 85.0 10.150 868.68
ML694 661477281 68,827.00 06/01/97 05/01/17 239.00 06/01/97 79.9 15.350 924.16
ML694 661477398 35,000.00 07/01/97 06/01/12 180.00 07/01/97 79.7 13.100 389.91
ML694 661477471 14,400.00 07/01/97 06/01/12 180.00 07/01/97 70.0 10.550 132.26
ML694 661477984 38,600.00 07/01/97 06/01/17 240.00 07/01/97 89.1 12.300 433.12
ML694 661478446 55,000.00 07/01/97 06/01/12 180.00 07/01/97 80.0 12.750 597.68
ML694 661479089 42,650.00 07/01/97 06/01/12 180.00 07/01/97 89.8 11.400 419.11
ML694 661479212 12,374.00 06/06/97 05/06/12 179.15 06/06/97 80.0 15.350 176.16
ML694 661479485 27,500.00 06/12/97 05/12/17 239.34 06/12/97 30.8 12.000 302.80
ML694 661480525 19,687.00 07/01/97 06/01/17 240.00 07/01/97 84.9 12.300 220.90
ML694 661480566 73,000.00 07/01/97 06/01/17 240.00 07/01/97 81.5 10.800 743.59
ML694 661480855 33,000.00 07/01/97 06/01/12 180.00 07/01/97 89.7 11.800 334.37
</TABLE>
<PAGE>
Page 9 6/24/97
ALLIANCE FUNDING COMPANY
A DIVISION OF SUPERIOR BANK FSB
SALE SCHEDULE
1997-2 CLASS 1 - INITIAL POOL OF FIXED RATE MORTGAGES - SETTLEMENT 6/25/97
<TABLE>
<CAPTION>
Principal
Zip Balance at
Sale ID Account Name Address City State Code Origination
- ----------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C>
ML694 661481648 ANDERSON STANLEY 229 ESTE ES ROAD TAOS NM 87571 30,000.00
ML694 661484246 PETERSEN JIM 7855 WEST WOOLLEY WAY MAGNA UT 84044 25,000.00
ML694 661484329 HENRIE DOUGLAS 104 NORTH 200 EAST TREMONTON UT 84337 28,256.00
ML694 661485243 CARR JOHN 4084 SOUTH 6865 WEST WEST VALLEY CITY UT 84128 23,084.00
ML694 661486928 MORRIS ROE H 17923 SE 311TH STREET AUBURN WA 98092 20,930.00
ML694 661488908 BROWN ARTHUR 23538 123RD STREET TREVOR WI 53179 71,000.00
------------------------------------- ----------------
70 Sale Total 2,559,176.00
<CAPTION>
Cut-off Date First Original Current Scheduled
Principal Payment Maturity Rem Date LTV Mortgage Payment
Sale ID Account Balance Date Date Term Due Ratio Rate Int & Prin
- ---------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
ML694 661481648 30,000.00 07/01/97 06/01/12 180.00 07/01/97 50.5 11.750 355.24
ML694 661484246 25,000.00 07/01/97 06/01/12 180.00 07/01/97 87.1 11.800 253.31
ML694 661484329 28,256.00 06/05/97 05/05/12 179.11 06/05/97 89.9 13.250 362.17
ML694 661485243 23,084.00 06/06/97 05/06/17 239.15 06/06/97 89.4 13.250 274.57
ML694 661486928 20,930.00 07/01/97 06/01/12 180.00 07/01/97 80.0 13.000 264.82
ML694 661488908 71,000.00 06/19/97 05/19/17 239.57 06/19/97 64.5 11.750 769.43
---------------------- ------- --------------------------
70 2,558,496.03 209.22 78.1 12.003 28,423.46
</TABLE>
<PAGE>
Page 10 6/24/97
ALLIANCE FUNDING COMPANY
A DIVISION OF SUPERIOR BANK FSB
SALE SCHEDULE
1997-2 CLASS 1 - INITIAL POOL OF FIXED RATE MORTGAGES - SETTLEMENT 6/25/97
<TABLE>
<CAPTION>
Principal
Zip Balance at
Sale ID Account Name Address City State Code Origination
- ----------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C>
ML695 661425728 MEADE LETITIA 715 ARMOUR DRIVE LAKE HAVASU CITY AZ 86406 60,850.00
ML695 661442228 SCHREINER CARL 243 NE 2ND STREET PILOT ROCK OR 97868 10,800.00
ML695 661450940 JACKSON RODNEY LYNN 121 NORTHEAST 58TH STREET SEATTLE WA 98105 41,500.00
ML695 661453597 TENGLER CHARLES 1501 EAST STANFORD COURT DRAPER UT 84020 32,275.00
ML695 661454777 CROUCH PAULINE 1711 SE 41ST AVENUE PORTLAND OR 97214 65,000.00
ML695 661455840 BRAUN DONALD L 1495 US HIGHWAY 89 FISH HAVEN ID 83287 29,000.00
ML695 661458265 HINKLE BILL 4214 EAST 28TH AVENUE SPOKANE WA 99223 24,850.00
ML695 661459040 CROFF JO 1812 WEST CALEY AVENUE LITTLETON CO 80120 15,000.00
ML695 661459578 LAMBERT MARTIN A IV 1021 NORTH PLUM GROVE ROAD PALATINE IL 60067 79,500.00
ML695 661460535 WARREN JOHN JR 399 WHEELOCK PARKWAY WEST ST PAUL MN 55117 25,000.00
ML695 661464495 RICE DANIEL ETHAN 254 NORTH 400 EAST PROVO UT 84606 45,041.00
ML695 661464867 SUFFERN MARY 16412 S STUART ORLAND PARK IL 60462 32,000.00
ML695 661464982 RIEMANN PAMELA N166 W20837 PARKWAY DRIVE JACKSON WI 53037 50,000.00
ML695 661465682 GRENTZ JAMES A 24 SOUTH RIDGE CIRCLE BAYFIELD CO 81122 27,569.00
ML695 661465740 CAIN JOHNNY J 1730 WEST PHILADELPHIA DETROIT MI 48206 17,000.00
ML695 661466409 VINCENT STEVEN 191 WEST 1820 NORTH OREM UT 84057 28,175.00
ML695 661468140 WOLDEN RONALD 1514 PETERSON ROAD BURLINGTON WA 98233 14,041.00
ML695 661470583 SCOTT DAVID H 4204 MALAYA STREET DENVER CO 80249 30,062.00
ML695 661470831 LEYBA RICHARD 26 SOUTH GARO AVENUE COLORADO SPRINGS CO 80910 23,000.00
ML695 661471391 ALLEN GLENN 8281 SOUTH ESCALANTE DRIVE SANDY UT 84093 28,300.00
ML695 661472159 MARTIN DAVID 180 BELWOOD GATEWAY LOS GATOS CA 95032 180,000.00
ML695 661472506 ROBINSON HERSHELL LEE SR 7132 S WOOD ST CHICAGO IL 60636 26,200.00
ML695 661472910 JAGER EUGENE 5854 ARBOLES STREET SAN DIEGO CA 92120 62,307.00
ML695 661473298 WHITAKER DAVID L 19668 N 3RD AVENUE PHOENIX AZ 85207 22,988.00
ML695 661474072 WILLIAMS HUGH L 571 EAST CHELSEA DRIVE BOUNTIFUL UT 84010 176,000.00
ML695 661474585 MOON GRANT 14216 SOUTH 2200 WEST BLUFFDALE UT 84065 115,600.00
ML695 661474742 MARQUEZ MARTHA 71 CALVERT AVENUE SOUTH SAN FRANCISCO CA 94080 40,000.00
ML695 661474767 RODRIGUEZ JOSE 10 WATERFORD PLACE PALM COAST FL 32164 31,960.00
ML695 661475103 JONES DAVID 2125 PATRICIAN WAY COLORADO SPRINGS CO 80909 34,188.00
ML695 661475541 MITCHELL MARCUS D 2810 DAHLIA STREET DENVER CO 80207 30,000.00
ML695 661475582 JOLLEY TODD R 1613 WEST SPRINGWATER DRIV OREM UT 84058 29,923.00
ML695 661475905 GARCIA VIVIAN 130 S ELM STREET NORTHLAKE IL 60164 61,200.00
ML695 661476754 MEYER ROBERT 1997 SOUTH RIDGE HILL DRIV BOUNTIFUL UT 84010 89,435.00
ML695 661477554 HARPER LLOYD JR 1025 SOUTH BLOSSOM MESA AZ 85206 13,700.00
ML695 661477620 HILL GARY 1961 NORTH MAIN STREET OREM UT 84057 74,000.00
ML695 661478594 GLOVER ROOSEVELT 78-29 160TH STREET FLUSHING NY 11366 64,500.00
ML695 661479840 SUTER EDGAR 800 LUZ COURT DANVILLE CA 94526 45,400.00
ML695 661480194 SALAZAR RANDY 4380 EAST 115TH PLACE THORNTON CO 80233 15,400.00
ML695 661480210 PERKINS JUDY 12854 SOUTH PAULINA CALUMET PARK IL 60643 35,700.00
ML695 661480228 TITEAN MIHAI 4110 NORTH KENNETH CHICAGO IL 60641 77,300.00
ML695 661480533 WARNER DAN 465 NORTH 200 EAST NEPHI UT 84648 46,500.00
ML695 661480749 SHEFFIELD GREGORY 160 EAST WILSON ROAD NORTH SALT LAKE UT 84054 15,659.00
ML695 661481275 YOU YOUNG SUN 2336 GREENWOOD RD GLENVIEW IL 60025 56,000.00
ML695 661481689 WRENICK DALE WAYNE 3360 WEST 93RD AVENUE WESTMINSTER CO 80030 27,194.00
ML695 661482265 JOHNSON LEVI 87 NORTH TASMANIA PONTIAC MI 48342 32,900.00
ML695 661482281 JOHNSON LEVI 3S/7S TASMANIA PONTIAC MI 48342 32,200.00
ML695 661482992 KESSLER EUGENE 4555 SOUTH LINCOLN STREET ENGLEWOOD CO 80110 61,500.00
ML695 661484568 MARMOLEJO ROBERT 118 POLK STREET PUEBLO CO 81004 38,500.00
ML695 661485235 JACOBSON JAKE 1212 NORTH 950 WEST OREM UT 84057 43,333.00
ML695 661485532 WELLS THOMAS 14309 134TH AVENUE EAST PUYALLUP WA 98374 40,000.00
ML695 661485565 ROSEN ROBERT 3385 SOUTH TULARE COURT DENVER CO 80231 59,000.00
ML695 661485599 SCANLON EUGENE 3318 SOUTH HOLBROOK LANE TEMPE AZ 85282 14,700.00
ML695 661487157 LOUSTEAU M JEANNE 20828 SOUTHEAST 202ND STRE RENTON WA 98058 85,500.00
ML695 661487892 ROWE JACK H 827 NORTH 350 EAST OREM UT 84057 27,600.00
ML695 661488767 SHATTUCK MICHELLE 5900 WEST ARKANSAS AVENUE LAKEWOOD CO 80226 18,971.00
------------------------------------- ----------------
55 Sale Total 2,504,321.00
<CAPTION>
Cut-off Date First Original Current Scheduled
Principal Payment Maturity Rem Date LTV Mortgage Payment
Sale ID Account Balance Date Date Term Due Ratio Rate Int & Prin
- -------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
ML695 661425728 60,850.00 05/01/97 04/01/12 178.00 06/01/97 84.1 12.900 668.37
ML695 661442228 10,800.00 07/01/97 06/01/12 180.00 07/01/97 89.3 11.750 127.89
ML695 661450940 41,500.00 06/01/97 05/01/12 179.00 06/01/97 78.2 14.350 503.24
ML695 661453597 32,275.00 06/01/97 05/01/12 179.00 06/01/97 86.4 12.750 403.06
ML695 661454777 65,000.00 07/01/97 06/01/12 180.00 07/01/97 81.5 12.450 799.03
ML695 661455840 29,000.00 06/13/97 05/13/12 179.38 06/13/97 73.0 15.600 417.86
ML695 661458265 24,850.00 07/01/97 06/01/12 180.00 07/01/97 89.8 11.950 297.44
ML695 661459040 15,000.00 07/01/97 06/01/12 180.00 07/01/97 74.1 11.000 142.85
ML695 661459578 79,500.00 06/21/97 05/21/12 179.64 06/21/97 79.5 14.250 957.73
ML695 661460535 25,000.00 06/09/97 05/09/12 179.24 06/09/97 76.4 11.150 286.51
ML695 661464495 45,041.00 06/01/97 05/01/12 179.00 06/01/97 68.7 11.250 519.03
ML695 661464867 32,000.00 06/20/97 05/20/17 239.61 06/20/97 71.7 13.000 374.90
ML695 661464982 50,000.00 06/20/97 05/20/12 179.61 06/20/97 78.1 12.050 601.69
ML695 661465682 27,569.00 07/01/97 06/01/12 180.00 07/01/97 84.9 10.400 303.04
ML695 661465740 17,000.00 06/21/97 05/21/12 179.64 06/21/97 54.8 11.350 196.97
ML695 661466409 28,175.00 07/01/97 06/01/12 180.00 07/01/97 84.6 12.500 347.26
ML695 661468140 14,041.00 06/01/97 05/01/12 179.00 06/01/97 84.9 13.850 185.58
ML695 661470583 30,062.00 07/01/97 06/01/12 180.00 07/01/97 84.8 12.500 370.52
ML695 661470831 23,000.00 07/01/97 06/01/12 180.00 07/01/97 79.8 11.250 265.04
ML695 661471391 28,300.00 07/01/97 06/01/12 180.00 07/01/97 85.0 13.000 358.06
ML695 661472159 180,000.00 07/01/97 06/01/12 180.00 07/01/97 84.5 12.900 1,977.10
ML695 661472506 26,200.00 06/23/97 05/23/12 179.70 06/23/97 56.9 10.100 283.15
ML695 661472910 62,307.00 07/01/97 06/01/12 180.00 07/01/97 84.8 12.500 664.98
ML695 661473298 22,988.00 07/01/97 06/01/12 180.00 07/01/97 89.8 11.800 272.94
ML695 661474072 176,000.00 07/01/97 06/01/12 180.00 07/01/97 83.4 11.250 1,709.42
ML695 661474585 115,600.00 07/01/97 06/01/27 360.00 07/01/97 85.0 12.250 1,211.37
ML695 661474742 40,000.00 07/01/97 06/01/12 180.00 07/01/97 78.3 12.200 417.61
ML695 661474767 31,960.00 07/01/97 06/01/17 240.00 07/01/97 85.0 12.500 363.11
ML695 661475103 34,188.00 07/01/97 06/01/17 240.00 07/01/97 79.3 14.500 437.61
ML695 661475541 30,000.00 07/01/97 06/01/17 240.00 07/01/97 89.9 11.800 326.15
ML695 661475582 29,923.00 07/01/97 06/01/12 180.00 07/01/97 87.3 11.800 303.19
ML695 661475905 61,200.00 06/19/97 05/19/27 359.57 06/19/97 60.5 12.250 641.31
ML695 661476754 89,435.00 07/01/97 06/01/12 180.00 07/01/97 84.9 12.950 985.84
ML695 661477554 13,700.00 07/01/97 06/01/12 180.00 07/01/97 81.6 10.550 151.86
ML695 661477620 74,000.00 07/01/97 06/01/12 180.00 07/01/97 64.9 10.900 836.44
ML695 661478594 64,500.00 06/07/97 05/07/12 179.18 06/07/97 66.3 11.100 737.16
ML695 661479840 45,400.00 07/01/97 06/01/12 180.00 07/01/97 84.9 13.000 502.21
ML695 661480194 15,400.00 07/01/97 06/01/12 180.00 07/01/97 84.9 12.650 191.31
ML695 661480210 35,700.00 06/22/97 05/22/17 239.67 06/22/97 69.9 12.400 403.09
ML695 661480228 77,300.00 06/21/97 05/21/17 239.64 06/21/97 84.9 12.500 878.24
ML695 661480533 46,500.00 07/01/97 06/01/12 180.00 07/01/97 79.2 10.650 518.34
ML695 661480749 15,659.00 06/20/97 05/20/12 179.61 06/20/97 89.9 13.250 200.71
ML695 661481275 56,000.00 06/21/97 05/21/12 179.64 06/21/97 89.9 12.050 578.18
ML695 661481689 27,194.00 07/01/97 06/01/12 180.00 07/01/97 79.9 13.000 344.07
ML695 661482265 32,900.00 06/22/97 05/22/12 179.67 06/22/97 70.0 10.800 308.35
ML695 661482281 32,200.00 06/22/97 05/22/12 179.67 06/22/97 70.0 11.150 310.30
ML695 661482992 61,500.00 07/01/97 06/01/27 360.00 07/01/97 64.7 9.500 517.13
ML695 661484568 38,500.00 07/01/97 06/01/12 180.00 07/01/97 55.0 14.240 463.50
ML695 661485235 43,333.00 06/06/97 05/06/17 239.15 06/06/97 89.9 12.450 490.80
ML695 661485532 40,000.00 07/01/97 06/01/12 180.00 07/01/97 84.4 12.250 419.16
ML695 661485565 59,000.00 07/01/97 06/01/12 180.00 07/01/97 84.9 11.250 573.04
ML695 661485599 14,700.00 07/01/97 06/01/12 180.00 07/01/97 89.9 12.050 176.90
ML695 661487157 85,500.00 07/01/97 06/01/12 180.00 07/01/97 90.0 11.800 866.32
ML695 661487892 27,529.10 05/23/97 04/23/12 178.72 06/23/97 27.6 11.350 319.79
ML695 661488767 18,971.00 07/01/97 06/01/12 180.00 07/01/97 90.0 11.800 192.22
------------------------ -------- ---------------------------
55 2,504,250.10 203.70 79.4 12.177 27,698.97
</TABLE>
<PAGE>
Page 11 6/24/97
ALLIANCE FUNDING COMPANY
A DIVISION OF SUPERIOR BANK FSB
SALE SCHEDULE
1997-2 CLASS 1 - INITIAL POOL OF FIXED RATE MORTGAGES - SETTLEMENT 6/25/97
<TABLE>
<CAPTION>
Principal
Zip Balance at
Sale ID Account Name Address City State Code Origination
- ----------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C>
ML697 661435271 MASS RAYMOND L 703 SALMON RUN SULTAN WA 98294 18,827.00
ML697 661464412 MENDEZ MOISES 6305 SOLANO DRIVE SAN JOSE CA 95119 30,000.00
ML697 661477539 BARROW JAMES L 10812 N 78TH STREET SCOTTSDALE AZ 85260 100,200.00
ML697 661480202 ATKINSON PAUL 3344 WEST TONI DRIVE WEST VALLEY CITY UT 84119 20,400.00
ML697 661486050 NELSON TODD 1085 EAST GROVE CREEK DRIV PLEASANT GROVE UT 84062 15,143.00
------------------------------------- ----------------
5 Sale Total 184,570.00
<CAPTION>
Cut-off Date First Original Current Scheduled
Principal Payment Maturity Rem Date LTV Mortgage Payment
Sale ID Account Balance Date Date Term Due Ratio Rate Int & Prin
- -------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
ML697 661435271 18,827.00 05/22/97 04/22/12 178.68 05/22/97 84.7 14.200 226.06
ML697 661464412 30,000.00 07/01/97 06/01/12 180.00 07/01/97 69.0 12.750 374.65
ML697 661477539 100,200.00 07/01/97 06/01/12 180.00 07/01/97 84.9 12.250 1,049.99
ML697 661480202 20,400.00 07/01/97 06/01/12 180.00 07/01/97 79.9 14.500 278.56
ML697 661486050 15,143.00 06/06/97 05/06/12 179.15 06/06/97 80.0 15.850 201.81
------------------------ ------- --------------------------
5 184,570.00 179.80 81.3 13.074 2,131.07
</TABLE>
<PAGE>
Page 12 6/24/97
ALLIANCE FUNDING COMPANY
A DIVISION OF SUPERIOR BANK FSB
SALE SCHEDULE
1997-2 CLASS 1 - INITIAL POOL OF FIXED RATE MORTGAGES - SETTLEMENT 6/25/97
<TABLE>
<CAPTION>
Principal
Zip Balance at
Sale ID Account Name Address City State Code Origination
- ----------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C>
MLC693 680023207 RUSSO JOHN 202 BEDELL AVE STATEN ISLAND NY 10307 226,400.00
MLC693 680029337 TAGUE STEPHEN 19 RICHARD CIR WOBURN MA 01801 40,585.00
MLC693 680031135 HUNTING JAMES W 47 LAUREL AVE PORT JEFFERSON NY 11777 90,000.00
MLC693 680031838 NUNEZ RAMON 143 GLEN ST BROOKLYN NY 11208 81,000.00
MLC693 680032729 MUCIUS BERNICE 165 FREDERICK AVE SOUTH FLORAL PARK NY 11001 124,950.00
MLC693 680041092 FARSETTA JOSEPH 133 OLD MIDDLETOWN RD PEARL RIVER NY 10965 120,100.00
MLC693 680044625 AGUIAR PETER 5710 SW 58TH CT DAVIE FL 33314 32,000.00
MLC693 680044930 COLLINS LEWIS 218 -43 141TH AVENUE SPRINGFIELD GARDENS NY 11413 110,000.00
MLC693 680050077 HAYLOCK DOROTHY 8330 MIDNIGHT PASS RD SARASOTA FL 34242 72,000.00
MLC693 680051026 RAMSARAN LAKRAM 169-173 SHERIDAN AVE PATERSON NJ 07502 50,000.00
MLC693 680051190 OLMO BEANCA 106-13 OTIS AVE CORONA NY 11368 148,000.00
MLC693 680052776 SISSON MARY B 2861 JERICO ROAD SUMTER SC 29153 116,000.00
MLC693 680052909 ALGER DONALD 66 DAVENPORT RD EAST BRIDGEWATER MA 02333 16,700.00
MLC693 680055282 RUSS MICHELLE L 235 W WATER STREET MIDDLETOWN PA 17057 28,800.00
MLC693 680055803 BRYAN BOB G 1012 SOUTH MAIN STREET SUMMERVILLE SC 29483 25,000.00
MLC693 680057296 LOMBARDI PETER J 2 KATHY DR BELLINGHAM MA 02019 25,250.00
MLC693 680059573 YAGDGAROV SHEVA 56 EAST FULTON STREET LONG BEACH NY 11561 92,700.00
MLC693 680060340 SMITH BETTY T 2000 BEATTIE RD ALBANY GA 31707 90,000.00
MLC693 680061603 CRUZ ENRIQUE JR 2529 WEST MINNEHAHA AVENUE TAMPA FL 33614 60,000.00
MLC693 680062247 NELSON PAUL 23176 LINDALE AVE PORT CHARLOTTE FL 33954 31,000.00
MLC693 680062999 ANDREWS CLAUDIA 319 SHORE ROAD NORTH TRURO MA 02666 83,000.00
MLC693 680067402 SQUILLACIOTI MICHAEL 9 HAVEN LN SMITHTOWN NY 11787 30,000.00
MLC693 680068715 PEDRAZZI ROBERT 118 HIDDEN SPRINGS CIR KISSIMMEE FL 34743 76,000.00
MLC693 680070398 TILTON DAVID C 17180 LAVENDER AVE PORT CHARLOTTE FL 33948 46,000.00
MLC693 680072436 MILLER KEVIN J 54 WHITE OAKS DRIVE LONGMEADOW MA 01106 44,000.00
MLC693 680072501 SCOZZARI ALLAN J LOT 43 TUTTLE ROAD DURHAM CT 06422 164,000.00
MLC693 680072766 COONGHE BERRIL FARRINGTON 490 CLOVE RD APT 1F STATEN ISLAND NY 10310 43,425.00
MLC693 680072865 DIBENEDETTO GIULIO 15123 NATUREWALK DR TAMPA FL 33624 17,000.00
MLC693 680076486 WILLIAMS MICHAEL 58 BARNEY ST LARKSVILLE PA 18651 36,000.00
MLC693 680084209 ROSEMEYER GEORGENE 6886 STATE HIGHWAY 5S FORT PLAIN NY 13339 15,000.00
MLC693 680088671 MILLER DAVID D 103 YODER RD HARLEYSVILLE PA 19438 43,500.00
MLC693 680090339 FLETCHER JACK K 11 LAKE DR SPRING CITY PA 19475 34,000.00
MLC693 680092251 SUMNER R. CRAIG 507509 EAST ANDERSON STREE SAVANNAH GA 31401 33,600.00
MLC693 680094463 DAVIS HAROLD 1370 AUSTIN ST BARTOW FL 33830 55,250.00
MLC693 680096336 ROSENFELD NORMAN 2149 E 28TH ST BROOKLYN NY 11229 54,740.00
MLC693 680096872 SNELL CALVIN H 2119 DUNCAN AVE ALLISON PARK PA 15101 60,100.00
MLC693 680100872 REESE JESSIE JR 4 LEAK STREET BENNETTSVILLE SC 29512 32,725.00
MLC693 680104155 FLEMMINGS WILLIAM 132 ADKIN STREET KINSTON NC 28501 30,400.00
MLC693 680104965 CARSON WALTER L JR 1399 JONESBORO ROAD ATLANTA GA 30315 48,400.00
MLC693 680105376 WALTON R. THOMAS 711 SPORTSMAN LN KENNETT SQUARE PA 19348 104,000.00
MLC693 680108131 LEHMAN VIVIAN 16 PETERS LN BEDFORD NY 10506 58,000.00
MLC693 680109188 KWON OH HYUN 202 HIDDEN CREEK DR HATBORO PA 19040 21,000.00
MLC693 680109410 GARAPOLO JOSEPH K 4 DREW LN CENTER MORICHES NY 11934 92,500.00
MLC693 680113826 SHOUSHANI TONY 7 ALBERT RD DANBURY CT 06811 25,000.00
MLC693 680114816 SMITH HOWARD S 410 W MARKET ST MARIETTA PA 17547 25,291.00
MLC693 680116233 HUNTER MICHAEL 12 TERRY ST HICKSVILLE NY 11801 25,500.00
MLC693 680116597 GREEN KATHLEEN A 44 HANOVER RD NEWTOWN CT 06482 44,000.00
MLC693 680117645 HILL LEANNE M 1001 MABBETTE STREET KISSIMMEE FL 34741 37,500.00
MLC693 680120292 MACIEJEWSKI EDWARD J 10 TAURAS CT SEWELL NJ 08080 94,000.00
MLC693 680121241 WEAVER DANIEL L 10 COLFAX LN MOUNT HOLLY NJ 08060 35,050.00
MLC693 680132131 SHAW DUANE 1819 DAVIS ROAD OREGON CITY OR 97045 21,500.00
MLC693 680133220 ROBERTSON ANCIL DEAN 402 MIDWOOD DRIVE PLANT CITY FL 33567 31,450.00
MLC693 680138716 STEPHENS ALEXANDER 4416 BAYCHESTER AVE BRONX NY 10466 43,000.00
MLC693 680138971 TORIN SUSAN G 1617 AUBURN AVE ROCKVILLE MD 20850 35,000.00
MLC693 680139532 WEEMS GEORGE 18714 FALLS RD HAMPSTEAD MD 21074 30,300.00
MLC693 680140456 SMITH DEBORAH J 846 ORIVSTON MOUNTAIN ROAD HOWARD PA 16841 35,700.00
MLC693 680140654 GOODWIN PAUL G 5454 N RHETT AVE N CHARLESTON SC 29406 72,000.00
MLC693 680140811 MARANGELLI ROBERT J JR 8 ELMORA DRIVE GOOSE CREEK SC 29445 67,500.00
MLC693 680143773 MASSEY LUTHER A 6 LOCUST ST GREENFIELD MA 01301 22,872.00
MLC693 680144565 YOO JAE DOO 51 AMITY ST PATCHOGUE NY 11772 30,000.00
MLC693 680145570 PATTERSON JAMES G 4252 WAYNE ROAD GREENSBORO NC 27407 78,000.00
MLC693 680145984 WADELED NANCY 68-70 WEST UNION STREET NANTICOKE PA 18634 31,500.00
MLC693 680146800 HOPE MICHAEL 8408 N 11TH ST TAMPA FL 33604 43,100.00
MLC693 680147030 HENDRICKS HOLLY J 2529 8TH AVE W BRADENTON FL 34205 53,500.00
<CAPTION>
Cut-off Date First Original Current Scheduled
Principal Payment Maturity Rem Date LTV Mortgage Payment
Sale ID Account Balance Date Date Term Due Ratio Rate Int & Prin
- -----------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
MLC693 680023207 226,211.41 12/04/96 11/04/11 173.13 06/04/97 79.9 14.300 2,736.40
MLC693 680029337 39,869.99 01/02/97 12/02/16 234.05 07/02/97 89.9 12.750 468.27
MLC693 680031135 89,892.44 01/24/97 12/24/11 174.77 05/24/97 47.3 11.500 891.26
MLC693 680031838 80,180.07 12/12/96 11/12/16 233.39 06/12/97 90.0 11.450 861.02
MLC693 680032729 124,950.00 02/01/97 01/01/12 175.00 06/01/97 85.0 11.500 1,237.37
MLC693 680041092 119,897.24 01/02/97 12/02/16 234.05 06/02/97 79.1 10.200 1,174.95
MLC693 680044625 31,414.98 11/21/96 10/21/11 172.67 06/21/97 84.9 13.650 418.66
MLC693 680044930 109,114.50 01/03/97 12/03/26 354.08 07/03/97 62.8 12.125 1,142.07
MLC693 680050077 71,868.84 12/22/96 11/22/16 233.72 05/22/97 74.8 10.800 733.40
MLC693 680051026 49,657.12 03/01/97 02/01/12 176.00 07/01/97 80.4 12.600 619.52
MLC693 680051190 147,204.24 01/16/97 12/16/11 174.51 06/16/97 69.8 11.400 1,454.35
MLC693 680052776 115,486.24 12/25/96 11/25/26 353.82 06/25/97 74.8 10.050 1,022.27
MLC693 680052909 16,452.43 12/26/96 11/26/11 173.85 06/26/97 83.3 12.500 205.83
MLC693 680055282 28,595.74 12/27/96 11/27/16 233.88 06/27/97 90.0 11.250 302.19
MLC693 680055803 24,821.54 12/19/96 11/19/11 173.62 05/19/97 85.0 10.500 276.35
MLC693 680057296 25,101.61 12/25/96 11/25/11 173.82 05/25/97 89.9 13.150 321.97
MLC693 680059573 92,700.00 01/20/97 12/20/11 174.64 05/20/97 90.0 10.850 872.31
MLC693 680060340 88,029.98 01/09/97 12/09/11 174.28 07/09/97 75.0 11.500 1,051.38
MLC693 680061603 59,838.64 12/22/96 11/22/11 173.72 06/22/97 80.0 11.850 610.25
MLC693 680062247 30,165.85 12/26/96 11/26/11 173.85 07/26/97 79.9 10.250 337.88
MLC693 680062999 82,587.48 02/01/97 01/01/17 235.00 06/01/97 69.1 12.000 913.90
MLC693 680067402 29,974.42 02/22/97 01/22/12 175.73 05/22/97 73.6 12.250 364.89
MLC693 680068715 75,564.99 01/03/97 12/03/26 354.08 07/03/97 75.2 11.350 743.94
MLC693 680070398 45,723.72 01/10/97 12/10/16 234.31 06/10/97 70.2 9.600 431.79
MLC693 680072436 43,393.49 01/24/97 12/24/11 174.77 05/24/97 89.9 12.350 538.02
MLC693 680072501 163,810.98 01/23/97 12/23/11 174.74 06/23/97 80.0 12.500 1,750.30
MLC693 680072766 42,993.76 02/06/97 01/06/12 175.20 06/06/97 75.0 10.750 486.77
MLC693 680072865 16,808.86 01/13/97 12/13/11 174.41 06/13/97 77.7 13.000 215.09
MLC693 680076486 35,931.51 02/23/97 01/23/27 355.76 06/23/97 90.0 11.250 349.65
MLC693 680084209 14,940.75 02/27/97 01/27/17 235.89 06/27/97 85.0 12.750 173.07
MLC693 680088671 43,484.49 03/03/97 02/03/12 176.12 06/03/97 79.3 11.000 414.26
MLC693 680090339 34,000.00 02/02/97 01/02/12 175.07 06/02/97 77.8 12.200 354.97
MLC693 680092251 33,423.41 03/07/97 02/07/27 356.25 07/07/97 70.7 10.850 316.18
MLC693 680094463 55,214.29 03/01/97 02/01/27 356.00 06/01/97 85.0 11.850 561.94
MLC693 680096336 54,365.50 02/17/97 01/17/12 175.56 06/17/97 89.7 10.300 598.33
MLC693 680096872 60,055.62 03/05/97 02/05/17 236.19 06/05/97 76.0 10.000 579.98
MLC693 680100872 32,725.00 03/19/97 02/19/12 176.65 05/19/97 85.0 12.250 342.92
MLC693 680104155 30,305.89 03/13/97 02/13/12 176.45 06/13/97 80.0 10.000 266.78
MLC693 680104965 48,213.33 02/28/97 01/28/27 355.92 06/28/97 84.9 10.250 433.71
MLC693 680105376 104,000.00 04/17/97 03/17/12 177.50 05/17/97 80.0 11.000 990.42
MLC693 680108131 57,531.35 03/20/97 02/20/12 176.68 06/20/97 20.0 10.250 632.17
MLC693 680109188 20,881.92 03/10/97 02/10/12 176.35 06/10/97 72.1 11.750 248.67
MLC693 680109410 91,846.76 03/24/97 02/24/12 176.81 06/24/97 70.6 9.600 784.55
MLC693 680113826 24,900.51 03/12/97 02/12/12 176.42 06/12/97 86.2 12.200 303.27
MLC693 680114816 25,264.23 05/07/97 04/07/17 238.19 06/07/97 90.0 12.750 291.81
MLC693 680116233 25,405.16 04/26/97 03/26/12 177.80 06/26/97 89.7 11.800 302.77
MLC693 680116597 44,000.00 03/18/97 02/18/12 176.61 06/18/97 89.7 13.000 486.73
MLC693 680117645 37,431.62 05/21/97 04/21/17 238.65 06/21/97 75.0 11.750 406.39
MLC693 680120292 94,000.00 04/03/97 03/03/12 177.04 06/03/97 75.2 10.250 842.33
MLC693 680121241 35,044.63 03/18/97 02/18/12 176.61 06/18/97 84.8 14.750 436.19
MLC693 680132131 21,147.71 05/14/97 04/14/12 178.42 07/14/97 84.9 10.800 241.68
MLC693 680133220 31,363.33 05/16/97 04/16/12 178.49 06/16/97 85.0 10.250 342.79
MLC693 680138716 42,682.81 05/01/97 04/01/12 178.00 07/01/97 30.1 9.550 450.31
MLC693 680138971 34,972.37 04/26/97 03/26/17 237.80 06/26/97 84.3 13.700 427.63
MLC693 680139532 30,270.18 04/05/97 03/05/17 237.11 06/05/97 89.7 12.000 333.63
MLC693 680140456 35,700.00 06/01/97 05/01/12 179.00 06/01/97 70.0 11.350 349.45
MLC693 680140654 72,000.00 05/14/97 04/14/27 358.42 06/14/97 90.0 9.900 626.54
MLC693 680140811 67,443.56 05/28/97 04/28/27 358.88 06/28/97 90.0 9.900 587.38
MLC693 680143773 22,845.65 05/04/97 04/04/12 178.09 06/04/97 84.3 12.000 274.50
MLC693 680144565 30,000.00 05/02/97 04/02/12 178.03 06/02/97 65.3 12.850 328.35
MLC693 680145570 77,973.52 05/16/97 04/16/12 178.49 06/16/97 83.8 11.500 911.19
MLC693 680145984 31,430.35 04/27/97 03/27/12 177.83 06/27/97 70.0 9.990 276.20
MLC693 680146800 43,100.00 05/24/97 04/24/17 238.75 05/24/97 64.8 13.490 520.07
MLC693 680147030 53,500.00 06/01/97 05/01/27 359.00 06/01/97 84.9 9.400 445.96
</TABLE>
<PAGE>
Page 13 6/24/97
ALLIANCE FUNDING COMPANY
A DIVISION OF SUPERIOR BANK FSB
SALE SCHEDULE
1997-2 CLASS 1 - INITIAL POOL OF FIXED RATE MORTGAGES - SETTLEMENT 6/25/97
<TABLE>
<CAPTION>
Principal
Zip Balance at
Sale ID Account Name Address City State Code Origination
- ----------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C>
MLC693 680147162 MCDANEL JOHN W 200 EAST 11TH STREET BERWICK PA 18603 25,800.00
MLC693 680147352 WALSH KENNETH S 2011 EAST DRUID ROAD CLEARWATER FL 34624 20,700.00
MLC693 680148327 GORNEY FRANK S 259 TREMONT AVE TONAWANDA NY 14217 80,000.00
MLC693 680148715 VETROMILE DEBRA 28 GREENWOOD DR TRUMBULL CT 06611 23,000.00
MLC693 680149259 CALDERON JESUS 1301 COTTAGE PLACE BRANDON FL 33510 78,200.00
MLC693 680149374 WAGNER ROBERT JR 122 BRIDLE TRAIL YOUNGSVILLE NC 27596 11,000.00
MLC693 680149515 LARKIN ROBERT 942 EDGECUMBE BENTON HARBOR MI 49022 29,600.00
MLC693 680150604 OCHSENREITER PATRICK B. 28 SANDON DRIVE ASHEVILLE NC 28804 81,000.00
MLC693 680151917 BROWN LOIS E 40 MOHAWK TRAIL CRANSTON RI 02921 25,100.00
MLC693 680152469 LUCAS ARNEL 417 128 TH AVE SE BELLEVUE WA 98005 43,800.00
MLC693 680153988 BARAONA LOUIS A 1044 NORTH CASEY KEY ROAD OSPREY FL 34229 220,000.00
MLC693 680155173 ISLAM MOHAMMED N 10721 75TH ST OZONE PARK NY 11417 69,200.00
MLC693 680155215 DODYS NICHOLAS A 2215 WILLOW AVENUE ATLANTA GA 30305 22,500.00
MLC693 680155439 REED SYDNEY G 2437 25TH STREET NORTHEAST HICKORY NC 28601 61,125.00
MLC693 680156171 HARRIS JAMES A JR 3213 HUNTLEIGH DRIVE RALEIGH NC 27604 24,200.00
MLC693 680158342 PETERSON A DAVID 115 BALD CYPRESS LANE LEVITTOWN PA 19054 76,656.00
MLC693 680158755 NEEDLES PAUL R 11985 MURRAY AVENUE LARGO FL 33778 40,000.00
MLC693 680160116 BOES RONALD RAYMOND 13111 82ND AVENUE NORTHEAS KIRKLAND WA 98034 44,000.00
MLC693 680162039 SCHREMS KENNETH A 122 GULFWINDS DRIVE EAST PALM HARBOR FL 34683 48,540.00
MLC693 680163656 CLOSE CATHERINE P 122 VAUGHN STREET DARLINGTON SC 29532 30,800.00
MLC693 680163714 THEURET RUSSELL E 102 NORTH DILLON DRIVE TITUSVILLE PA 16354 51,600.00
MLC693 680165420 MARMOR ROBIN L 12348 CIRCULA PANORAMA SANTA ANA CA 92705 94,000.00
MLC693 680166980 MILLER MARGIE F. 5901 HADDINGTON DRIVE CHARLOTTE NC 28215 27,200.00
MLC693 680167368 CHAMBERLAIN JAMES N 11641 SEMINOLE BOULEVARD LARGO FL 33778 63,000.00
MLC693 680168549 ALBA ANTONIO 7010 A, B AND C BEAR AVENU BELL CA 90201 23,500.00
MLC693 680168770 SENSEMEN RONALD RR 3 BOX 8064A JONESTOWN PA 17038 35,500.00
MLC693 680169018 HEDLEY CARL D 594 ALBANY TURNPIKE OLD CHATHAM NY 12136 18,500.00
MLC693 680169570 HUGHES TERRY W 3552 LITTLE PINE LANE LAKE WORTH FL 33467 31,755.00
MLC693 680170412 HERRICK ROBERT O. 1703 GIB GALLOWAY ROAD LAKELAND FL 33810 20,400.00
MLC693 680170651 REMZI MEMET J 106 NICHOLS MANOR DRIVE STEVENSVILLE MD 21666 37,180.00
MLC693 680170966 MARCOE DIANE 4208 SE 75TH AVENUE PORTLAND OR 97206 18,300.00
MLC693 680171493 MEERTINS PETER 253 HALSEY ST BROOKLYN NY 11216 30,000.00
MLC693 680171659 WILLIAMS JAMES R 1392 INDIAN TRL N PALM HARBOR FL 34683 22,950.00
MLC693 680172681 CRIPPEN ROBERT L 15707 PINTO PLACE TAMPA FL 33624 20,400.00
MLC693 680173044 GOLDEN MONIQUE E 5755 VERNIER DRIVE COLLEGE PARK GA 30349 99,450.00
MLC693 680173556 DIFLAVIS MICHELLE 10643 127TH PLACE NORTH LARGO FL 33773 10,000.00
MLC693 680174042 HARPER THEOPHILUS B 1490 SW 84TH AVENUE PORTLAND OR 97225 103,903.00
MLC693 680174158 SMITH RAYMOND P. 351 DARE RD SELDEN NY 11784 107,000.00
MLC693 680174315 BEVERIDGE DENNIS W 2524 SE CLARK COURT TROUTDALE OR 97060 30,914.00
MLC693 680174620 LYNCH, RICHARD E. JR 12208 KELLY LANE THONOTOSASSA FL 33592 29,900.00
MLC693 680175049 WILLACKER JOSEPH P 894 ARLINGTON ST NE GRAND RAPIDS MI 49505 21,500.00
MLC693 680175338 COPELAND ROBERT J 1520 SIMMONS DRIVE CLEARWATER FL 34616 61,000.00
MLC693 680175502 KUHN RONALD 538 TRUMP RD NE HARTVILLE OH 44632 79,050.00
MLC693 680175544 CHHOEUM HENG SOK 112 CORINTH STREET PROVIDENCE RI 02907 13,500.00
MLC693 680176518 KOSEMPEL PAUL J 1317 HILL STREET LANGHORNE PA 19047 56,000.00
MLC693 680177508 CANTERO BARBARA E. 14107 ARBOR HILLS ROAD TAMPA FL 33625 29,000.00
MLC693 680178894 MOTE ALAN K 7855 OLD RICO ROAD PALMETTO GA 30268 44,385.00
MLC693 680179017 MATTINGLY LANCE D 8287 PRESTWICK DRIVE MANLIUS NY 13104 49,000.00
MLC693 680179256 WRIGHT CYNTHIA A 1420 SUNSET POINT ROAD CLEARWATER FL 34615 11,275.00
MLC693 680180601 LEWIS WADE T 5407 WEST MILEY ROAD PLANT CITY FL 33565 63,000.00
MLC693 680181203 ROSSI NANCY 187 WOODLAND AVENUE YONKERS NY 10703 30,500.00
MLC693 680181369 ALEXANDER ROBERT W 2044 VALLEY DRIVE DUNEDIN FL 34698 50,000.00
MLC693 680183415 MOFFATTE RAYMOND L 1017 N SIMPSON STREET PORTLAND OR 97217 80,000.00
MLC693 680183811 RAINEY EDWARD J 3760 SE EVANS TROUTDALE OR 97060 65,800.00
MLC693 680184413 DURRICK DANIEL J 428 MAHONING MOUNTAIN ROAD LEHIGHTON PA 18235 48,000.00
MLC693 680184660 SKYLES MARVIN D 14788 S THAYER ROAD OREGON CITY OR 97045 60,000.00
MLC693 680185287 MOFFATTE RAYMOND L 1017 N SIMPSON STREET PORTLAND OR 97217 28,500.00
MLC693 680185329 THOMPSON JEWEL 2114 EATON ROAD CHARLOTTE NC 28205 12,385.00
MLC693 680185816 SIMIEN MARY ELLEN 9823 OLIVE STREET OAKLAND CA 94603 105,800.00
MLC693 680186012 HARDY WILLIAM L JR RD 7 BOX 7771 EAST STROUDSBURG PA 18301 35,000.00
MLC693 680187325 PARDO CHRISTIE 11950 4TH STREET EAST TREASURE ISLAND FL 33706 30,000.00
MLC693 680188331 VERLEY JOSEPH 2017 COUNTRY TRAILS DRIVE CLAYTON NC 27520 14,860.00
MLC693 680191996 BROWN RONALD B 421 GUYLYN DRIVE PITTSBURGH PA 15235 36,700.00
MLC693 680192903 KISSAM AGRIPPA J III 2010 TALLOWAY DRIVE CARY NC 27511 14,500.00
<CAPTION>
Cut-off Date First Original Current Scheduled
Principal Payment Maturity Rem Date LTV Mortgage Payment
Sale ID Account Balance Date Date Term Due Ratio Rate Int & Prin
- ------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
MLC693 680147162 25,791.70 05/23/97 04/23/12 178.72 06/23/97 89.9 11.550 302.21
MLC693 680147352 20,647.99 04/28/97 03/28/12 177.86 06/28/97 79.9 13.000 261.91
MLC693 680148327 79,971.34 05/16/97 04/16/12 178.49 06/16/97 83.3 13.500 916.33
MLC693 680148715 22,964.03 05/14/97 04/14/12 178.42 06/14/97 88.5 13.250 294.80
MLC693 680149259 78,200.00 04/25/97 03/25/27 357.76 05/25/97 85.0 11.300 762.50
MLC693 680149374 10,973.67 05/16/97 04/16/12 178.49 06/16/97 79.9 12.500 135.58
MLC693 680149515 29,564.63 06/01/97 05/01/17 239.00 07/01/97 80.0 9.800 281.74
MLC693 680150604 80,945.72 05/28/97 04/28/17 238.88 06/28/97 90.0 9.750 768.30
MLC693 680151917 25,100.00 05/02/97 04/02/12 178.03 06/02/97 90.0 11.800 254.32
MLC693 680152469 43,800.00 05/11/97 04/11/17 238.32 06/11/97 85.2 11.300 461.07
MLC693 680153988 220,000.00 05/16/97 04/16/17 238.49 06/16/97 74.8 10.550 2,203.83
MLC693 680155173 69,095.07 05/15/97 04/15/12 178.45 06/15/97 79.9 13.900 814.46
MLC693 680155215 22,500.00 05/04/97 04/04/12 178.09 06/04/97 75.3 12.250 235.78
MLC693 680155439 61,125.00 06/01/97 05/01/12 179.00 06/01/97 75.0 13.250 688.13
MLC693 680156171 24,200.00 05/01/97 04/01/12 178.00 06/01/97 89.9 10.990 274.90
MLC693 680158342 76,656.00 06/01/97 05/01/12 179.00 06/01/97 83.8 12.990 847.37
MLC693 680158755 40,000.00 06/01/97 05/01/17 239.00 06/01/97 71.4 10.500 399.35
MLC693 680160116 44,000.00 06/01/97 05/01/12 179.00 06/01/97 82.6 12.150 532.33
MLC693 680162039 48,386.95 05/01/97 04/01/17 238.00 07/01/97 89.9 11.150 505.99
MLC693 680163656 30,800.00 05/14/97 04/14/12 178.42 05/14/97 70.0 11.000 350.07
MLC693 680163714 51,600.00 05/16/97 04/16/17 238.49 05/16/97 80.0 12.250 577.18
MLC693 680165420 94,000.00 05/28/97 04/28/17 238.88 05/28/97 79.4 10.500 938.48
MLC693 680166980 27,057.18 05/28/97 04/28/17 238.88 06/28/97 84.9 12.750 313.84
MLC693 680167368 62,854.16 06/01/97 05/01/27 359.00 07/01/97 70.0 11.250 611.89
MLC693 680168549 23,500.00 05/22/97 04/22/12 178.68 06/22/97 90.0 11.800 279.02
MLC693 680168770 35,472.51 05/08/97 04/08/12 178.22 06/08/97 90.0 11.250 344.80
MLC693 680169018 18,353.29 05/10/97 04/10/12 178.29 07/10/97 89.7 11.550 216.70
MLC693 680169570 31,755.00 05/25/97 04/25/12 178.78 05/25/97 85.9 12.400 389.32
MLC693 680170412 20,344.53 05/18/97 04/18/12 178.55 06/18/97 84.9 12.650 253.43
MLC693 680170651 37,180.00 05/17/97 04/17/17 238.52 05/17/97 89.9 12.050 410.68
MLC693 680170966 18,300.00 05/16/97 04/16/12 178.49 05/16/97 53.9 10.300 200.02
MLC693 680171493 29,967.58 06/01/97 05/01/12 179.00 07/01/97 87.5 11.650 300.53
MLC693 680171659 22,887.86 05/14/97 04/14/12 178.42 06/14/97 83.9 12.750 286.61
MLC693 680172681 20,292.75 05/25/97 04/25/07 118.78 06/25/97 87.5 11.400 285.65
MLC693 680173044 99,213.63 05/11/97 04/11/27 358.32 06/11/97 90.0 11.800 1,007.67
MLC693 680173556 10,000.00 06/01/97 05/01/12 179.00 06/01/97 78.0 14.250 134.86
MLC693 680174042 103,903.00 06/01/97 05/01/12 179.00 06/01/97 75.8 10.650 1,158.22
MLC693 680174158 107,000.00 06/01/97 05/01/17 239.00 06/01/97 80.3 11.000 1,104.44
MLC693 680174315 30,914.00 05/28/97 04/28/17 238.88 05/28/97 89.4 12.050 341.47
MLC693 680174620 29,900.00 06/01/97 05/01/17 239.00 06/01/97 79.9 11.050 309.64
MLC693 680175049 21,468.40 05/25/97 04/25/12 178.78 06/25/97 89.2 12.050 258.73
MLC693 680175338 60,915.66 05/04/97 04/04/12 178.09 06/04/97 74.8 10.750 569.42
MLC693 680175502 79,050.00 05/23/97 04/23/27 358.72 06/23/97 85.0 11.300 770.78
MLC693 680175544 13,494.59 05/22/97 04/22/12 178.68 06/22/97 90.0 12.300 164.64
MLC693 680176518 55,978.89 05/28/97 04/28/17 238.88 06/28/97 84.9 12.650 642.17
MLC693 680177508 29,000.00 05/28/97 04/28/12 178.88 06/28/97 84.7 11.650 290.51
MLC693 680178894 44,385.00 06/01/97 05/01/12 179.00 06/01/97 85.0 13.000 561.58
MLC693 680179017 48,976.52 05/23/97 04/23/12 178.72 06/23/97 86.6 12.050 589.66
MLC693 680179256 11,275.00 05/25/97 04/25/12 178.78 05/25/97 84.9 12.900 141.91
MLC693 680180601 63,000.00 05/23/97 04/23/17 238.72 05/23/97 90.0 12.750 726.90
MLC693 680181203 30,500.00 06/01/97 05/01/17 239.00 06/01/97 84.8 12.750 351.91
MLC693 680181369 50,000.00 05/28/97 04/28/27 358.88 05/28/97 72.4 9.900 435.10
MLC693 680183415 80,000.00 06/01/97 05/01/27 359.00 06/01/97 62.5 9.900 696.15
MLC693 680183811 65,652.52 06/01/97 05/01/17 239.00 07/01/97 69.0 10.150 641.54
MLC693 680184413 48,000.00 05/25/97 04/25/12 178.78 05/25/97 78.6 14.250 647.32
MLC693 680184660 59,544.12 05/28/97 04/28/12 178.88 06/28/97 84.0 12.750 749.30
MLC693 680185287 28,500.00 06/01/97 05/01/17 239.00 06/01/97 84.7 11.300 300.01
MLC693 680185329 12,292.82 05/28/97 04/28/07 118.88 06/28/97 87.4 11.650 175.19
MLC693 680185816 105,800.00 06/01/97 05/01/27 359.00 06/01/97 84.9 10.150 940.22
MLC693 680186012 35,000.00 06/01/97 05/01/12 179.00 06/01/97 57.3 11.490 408.64
MLC693 680187325 30,000.00 06/01/97 05/01/17 239.00 06/01/97 83.3 12.750 346.14
MLC693 680188331 14,860.00 06/01/97 05/01/07 119.00 06/01/97 77.9 11.100 205.54
MLC693 680191996 36,700.00 06/01/97 05/01/12 179.00 06/01/97 73.2 10.800 412.53
MLC693 680192903 14,500.00 06/01/97 05/01/07 119.00 06/01/97 79.6 13.950 224.70
</TABLE>
<PAGE>
Page 14 6/24/97
ALLIANCE FUNDING COMPANY
A DIVISION OF SUPERIOR BANK FSB
SALE SCHEDULE
1997-2 CLASS 1 - INITIAL POOL OF FIXED RATE MORTGAGES - SETTLEMENT 6/25/97
<TABLE>
<CAPTION>
Principal
Zip Balance at
Sale ID Account Name Address City State Code Origination
- ----------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C>
MLC693 800122343 DEBREUS BIENAIME 910 EAST 84TH ST BROOKLYN NY 11236 242,250.00
MLC693 800122897 ALLEN HERBERT JR 1510 BANTAM AVE BRONX NY 10469 38,000.00
MLC693 800129108 LOUISSAINT PATRICIA 22205 100TH DR JAMAICA NY 11429 160,000.00
MLC693 800130015 HAMBLIN DONALD R 212 S UNION ST SPENCERPORT NY 14559 95,900.00
MLC693 800134595 VITZTHUM RICHARD 150 WILLFRED BLVD HICKSVILLE NY 11801 57,500.00
MLC693 800141418 COLUCCI GERARDO 111 GREAT PLAIN RD DANBURY CT 06811 20,000.00
MLC693 800149296 SEAGROVES DONNIE GENE 900 BROOKS AVENUE GARNER NC 27529 68,200.00
MLC693 800150419 TURBI JUAN 351 GRAMATAN AVE MOUNT VERNON NY 10550 162,750.00
MLC693 800153710 ODIERNO VINCENT 11 MEADOW AVE MEDFORD NY 11763 60,000.00
MLC693 800155749 OVESNY JEAN 19 DIMON ROAD SHELTON CT 06484 141,950.00
MLC693 800157042 BROOKS LILLIAN 26 CAMBRIDGE PLACE BROOKLYN NY 11238 64,100.00
MLC693 800158180 MARTIN KENNETH H 265 2ND STREET STATHAM GA 30666 10,000.00
MLC693 800158370 DOMINGUEZ JIMMY 4658 PENNSYLVANIA STREET DENVER CO 80216 54,400.00
MLC693 800159204 MARBELLA JOHN R 4211 SHIELDS STREET PITTSBURGH PA 15207 58,800.00
MLC693 800159451 WOLTMANN ROBIN 335 MCCALL AVENUE WEST ISLIP NY 11795 112,500.00
MLC693 800160509 SHERWOOD JOHN E 580 W WOODLAND AVENUE SPRINGFIELD PA 19064 40,450.00
MLC693 800161887 CELLINI ALBERT 531 NORTH HIGH STREET MOUNT VERNON NY 10550 50,000.00
MLC693 800168015 EVANGELISTA ADHERBAL 4380 SIGNAL RIDGE COURT BUFORD GA 30518 190,400.00
MLC693 800168833 FISHER WARREN A 708 SOUTH 7TH STREET PHILADELPHIA PA 19147 96,000.00
MLC693 800169583 RICHARD KEVIN L 634 WEST 6TH AVE EAST NORTHPORT NY 11731 35,000.00
MLC693 800170748 MIZER DALE A 17890 NW DOGWOOD CT BEAVERTON OR 97006 32,500.00
MLC693 800172165 NGUYEN VAN T 7073 CROSS LAKE CIRCLE N ST PETERSBURG FL 33709 50,000.00
MLC693 800172181 CONSTANTINE PETER 313 PERRY ROAD WATLTERBORO SC 29488 10,351.00
MLC693 800172322 CANNON DENNIS E 2810 20 MILE LEVEL ROAD LAND O LAKES FL 34639 17,000.00
MLC693 800174187 ZELTNER HAROLD E 489 CLINTON AVENUE WYCKOFF NJ 07481 96,815.00
MLC693 800175598 SCHNITZIUS MARILYN J 3536 LANDALE DRIVE HOLIDAY FL 34691 55,800.00
MLC693 800175861 KRENEK JAMES B 3 CARRIAGE LANE EPHRATA PA 17522 15,200.00
MLC693 800177982 MACE LEANA 4343 POCAHONTAS DRIVE RIDGE MANOR FL 33525 54,450.00
MLC693 800178022 MIJARES GIL 1180 BAY SHORE AVENUE BAYSHORE NY 11706 72,000.00
MLC693 800179590 MEYER RICHARD J 5746 STONYKILL ST EAST SYRACUSE NY 13057 80,000.00
MLC693 800180432 HODGES WILLIAM 441 SMITH RIDGE RD SOUTH SALEM NY 10590 41,000.00
MLC693 800180770 HOLMES BARBARA L 4442 BAY VILLA AVENUE TAMPA FL 33611 13,000.00
MLC693 800181448 ESPOSITO DAVID ANTHONY 1156 OXBOW RD CHARLESTON SC 29412 32,000.00
MLC693 800181604 CHESLEY DAVID J 2040 ARGENTINA DRIVE SE EAST GRAND RAPIDS MI 49506 75,000.00
MLC693 800181679 WILKE MARK 5435 HENRY ST NORTON SHORES MI 49441 61,900.00
MLC693 800182370 BROGDON KITTY C 4171 WASH LEE COURT LILBURN GA 30247 27,000.00
MLC693 800183337 STUART SHIRL L 14923 11TH AVENUE COURT E TACOMA WA 98445 112,000.00
MLC693 800183691 MACK PAUL 1817 FOUR NOTCH ROAD CARROLLTON GA 30117 90,000.00
MLC693 800183733 GRAY KIMBERLY 2433 NORTH RAMONA CIRCLE TAMPA FL 33612 10,000.00
MLC693 800184046 CONRAD DONALD E 7141 DEVONSHIRE HEIGHTS RD HARRISBURG PA 17111 65,600.00
MLC693 800184061 VANWORMER JOHN R 100 DEER PATH LANE GUILDERLAND NY 12009 30,550.00
MLC693 800184483 SHAW TERRI C 201 9TH STREET ST AUGUSTINE BEACH FL 32084 93,600.00
MLC693 800184756 MURRAY DENNIS 141 THAMES ST PORT JEFFERSON STA. NY 11776 19,775.00
MLC693 800184921 WASKEY CHARLES M 3137 EMERALD VALLEY DRIVE ELLICOTT CITY MD 21042 75,250.00
MLC693 800185175 AMMIRABILE CAROL 79 GOWER ST STATEN ISLAND NY 10314 25,500.00
MLC693 800186587 DELLISANTI FRANK 9624 EDEN HALL LANE PHILADELPHIA PA 19114 25,000.00
MLC693 800187072 KELLER ROBERT A 126 OLD TOWN ROAD GARDNERS PA 17324 68,000.00
MLC693 800187593 FRAPPOLLI PAUL J 62 SOUTHLAND DRIVE ROCHESTER NY 14623 21,900.00
MLC693 800188732 KARRAS RICHARD W 3 TAFFY COURT KINGS PARK NY 11754 32,000.00
MLC693 800190316 DEESE DONALD E JR 6590 SINKHOLE ROAD BARTOW FL 33830 35,700.00
MLC693 800190407 COLEMAN ROBERT J 2693 LEMLEY ROAD NORTH PORT FL 34287 10,000.00
MLC693 800190878 FREDERICKS LEOLA M 344 EAST 120TH STREET NEW YORK NY 10035 187,000.00
MLC693 800191017 MEYER ARTHUR J. 1 WEST POINT DRIVE EAST NORTHPORT NY 11731 50,000.00
MLC693 800192585 MCCARROLL LAURENCE 804 MEAD AVE BELLPORT NY 11713 68,600.00
MLC693 800193021 HOGAN PATRICK M 9610 NORTH 16TH STREET TAMPA FL 33612 16,400.00
MLC693 800193294 CARROLL GEORGE V 8 ALEXANDER DRIVE BROOKFIELD CT 06804 30,000.00
MLC693 800195505 HEWLETT TIMOTHY E 29754 FORT ROCKWOOD MI 48173 43,150.00
MLC693 800196990 GAUDETTE DAVID L 8622 SPRING CLUB COURT ORLANDO FL 32825 52,400.00
MLC693 800197782 WARDEN ROBERT D JR 640 KIRKLAND CIRCLE DUNEDIN FL 34698 20,600.00
MLC693 800198145 COLLINS BUFORD W 1220 58TH AVENUE NORTH ST PETERSBURG FL 33703 13,500.00
MLC693 800198210 THOMSON PAMELA 6 SHINNECOCK RD HAMPTON BAYS NY 11946 60,000.00
------------------------------------- ----------------
189 Sale Total 10,404,057.00
<CAPTION>
Cut-off Date First Original Current Scheduled
Principal Payment Maturity Rem Date LTV Mortgage Payment
Sale ID Account Balance Date Date Term Due Ratio Rate Int & Prin
- --------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
MLC693 800122343 242,250.00 05/03/97 04/03/27 358.06 06/03/97 85.0 12.300 2,547.89
MLC693 800122897 38,000.00 05/14/97 04/14/12 178.42 05/14/97 89.5 12.750 412.94
MLC693 800129108 160,000.00 05/09/97 04/09/27 358.26 06/09/97 80.0 11.250 1,554.02
MLC693 800130015 95,900.00 05/07/97 04/07/12 178.19 05/07/97 70.0 12.300 1,008.64
MLC693 800134595 57,500.00 06/14/97 05/14/17 239.41 06/14/97 78.9 14.000 715.02
MLC693 800141418 20,000.00 05/28/97 04/28/12 178.88 05/28/97 72.2 9.900 174.04
MLC693 800149296 68,200.00 06/01/97 05/01/12 179.00 06/01/97 74.9 10.650 760.24
MLC693 800150419 162,750.00 06/07/97 05/07/27 359.18 06/07/97 75.0 12.750 1,768.59
MLC693 800153710 60,000.00 06/09/97 05/09/17 239.24 06/09/97 65.3 11.350 633.67
MLC693 800155749 141,950.00 05/23/97 04/23/27 358.72 05/23/97 85.0 11.000 1,351.82
MLC693 800157042 64,100.00 06/06/97 05/06/17 239.15 06/06/97 28.4 9.550 599.59
MLC693 800158180 10,000.00 04/27/97 03/27/12 177.83 05/27/97 80.0 13.750 131.50
MLC693 800158370 54,400.00 06/05/97 05/05/17 239.11 06/05/97 85.0 9.990 524.61
MLC693 800159204 58,800.00 06/07/97 05/07/12 179.18 06/07/97 70.0 11.050 562.19
MLC693 800159451 112,500.00 06/12/97 05/12/12 179.34 06/12/97 75.0 12.000 1,157.19
MLC693 800160509 40,450.00 06/05/97 05/05/17 239.11 06/05/97 79.9 12.750 466.72
MLC693 800161887 50,000.00 05/08/97 04/08/12 178.22 05/08/97 51.4 11.150 573.02
MLC693 800168015 190,400.00 06/06/97 05/06/27 359.15 06/06/97 85.0 10.750 1,777.35
MLC693 800168833 96,000.00 06/01/97 05/01/12 179.00 06/01/97 80.0 13.100 1,069.46
MLC693 800169583 35,000.00 06/13/97 05/13/12 179.38 06/13/97 89.3 10.550 387.98
MLC693 800170748 32,500.00 05/24/97 04/24/12 178.75 05/24/97 77.3 10.150 352.24
MLC693 800172165 50,000.00 05/25/97 04/25/12 178.78 05/25/97 55.5 10.650 557.36
MLC693 800172181 10,351.00 06/08/97 05/08/07 119.21 06/08/97 90.0 12.050 148.81
MLC693 800172322 17,000.00 06/05/97 05/05/12 179.11 06/05/97 87.2 11.850 202.39
MLC693 800174187 96,815.00 05/02/97 04/02/12 178.03 06/02/97 79.7 12.800 1,055.85
MLC693 800175598 55,800.00 05/28/97 04/28/12 178.88 05/28/97 90.0 9.875 484.54
MLC693 800175861 15,200.00 06/05/97 05/05/12 179.11 06/05/97 89.9 12.300 185.37
MLC693 800177982 54,450.00 05/28/97 04/28/27 358.88 05/28/97 90.0 12.400 576.90
MLC693 800178022 72,000.00 05/17/97 04/17/12 178.52 06/17/97 80.0 14.300 870.24
MLC693 800179590 80,000.00 06/09/97 05/09/12 179.24 06/09/97 69.6 10.400 725.82
MLC693 800180432 41,000.00 06/02/97 05/02/17 239.01 06/02/97 82.9 12.750 473.06
MLC693 800180770 13,000.00 05/28/97 04/28/12 178.88 05/28/97 53.0 13.280 166.88
MLC693 800181448 32,000.00 06/08/97 05/08/17 239.21 06/08/97 89.9 11.900 350.12
MLC693 800181604 74,538.90 06/05/97 05/05/07 119.11 07/05/97 48.7 9.650 976.65
MLC693 800181679 61,900.00 06/08/97 05/08/12 179.21 06/08/97 68.7 12.250 752.89
MLC693 800182370 27,000.00 06/12/97 05/12/12 179.34 06/12/97 89.2 12.300 329.27
MLC693 800183337 112,000.00 06/06/97 05/06/12 179.15 06/06/97 80.0 8.900 1,129.33
MLC693 800183691 90,000.00 06/05/97 05/05/27 359.11 06/05/97 79.6 10.160 800.48
MLC693 800183733 10,000.00 06/12/97 05/12/12 179.34 06/12/97 79.9 13.750 131.50
MLC693 800184046 65,600.00 06/07/97 05/07/17 239.18 06/07/97 49.6 9.950 630.88
MLC693 800184061 30,550.00 06/05/97 05/05/17 239.11 06/05/97 85.0 13.000 357.92
MLC693 800184483 93,600.00 06/13/97 05/13/12 179.38 06/13/97 80.0 12.750 1,017.14
MLC693 800184756 19,775.00 06/02/97 05/02/17 239.01 06/02/97 89.9 12.050 218.43
MLC693 800184921 75,250.00 06/07/97 05/07/12 179.18 06/07/97 85.0 12.250 915.26
MLC693 800185175 25,428.90 06/06/97 05/06/17 239.15 07/06/97 87.6 11.650 274.58
MLC693 800186587 25,000.00 06/12/97 05/12/12 179.34 06/12/97 80.7 11.750 252.35
MLC693 800187072 68,000.00 06/06/97 05/06/12 179.15 06/06/97 85.0 10.850 766.49
MLC693 800187593 21,900.00 06/12/97 05/12/12 179.34 06/12/97 69.9 11.500 216.87
MLC693 800188732 32,000.00 06/07/97 05/07/12 179.18 06/07/97 89.7 12.300 390.25
MLC693 800190316 35,700.00 06/07/97 05/07/17 239.18 06/07/97 66.7 12.990 418.00
MLC693 800190407 9,979.15 06/01/97 05/01/12 179.00 07/01/97 88.7 12.300 121.95
MLC693 800190878 187,000.00 06/06/97 05/06/27 359.15 06/06/97 77.9 12.990 2,067.13
MLC693 800191017 50,000.00 06/13/97 05/13/17 239.38 06/13/97 50.1 11.400 529.77
MLC693 800192585 68,600.00 06/07/97 05/07/12 179.18 06/07/97 70.0 11.500 679.34
MLC693 800193021 16,332.64 06/06/97 05/06/12 179.15 07/06/97 89.9 12.300 200.00
MLC693 800193294 30,000.00 06/05/97 05/05/12 179.11 06/05/97 66.1 11.250 345.70
MLC693 800195505 43,150.00 06/14/97 05/14/12 179.41 06/14/97 84.7 12.750 538.87
MLC693 800196990 52,400.00 07/01/97 06/01/27 360.00 07/01/97 80.0 9.500 440.61
MLC693 800197782 20,600.00 06/05/97 05/05/12 179.11 06/05/97 79.9 14.250 277.81
MLC693 800198145 13,500.00 06/13/97 05/13/12 179.38 06/13/97 78.2 11.750 159.86
MLC693 800198210 60,000.00 06/05/97 05/05/12 179.11 06/05/97 77.5 11.750 710.48
----------------------- ------- --------------------------
189 10,385,937.71 234.09 78.1 11.563 110,397.05
</TABLE>
<PAGE>
Page 15 6/24/97
ALLIANCE FUNDING COMPANY
A DIVISION OF SUPERIOR BANK FSB
SALE SCHEDULE
1997-2 CLASS 1 - INITIAL POOL OF FIXED RATE MORTGAGES - SETTLEMENT 6/25/97
<TABLE>
<CAPTION>
Principal
Zip Balance at
Sale ID Account Name Address City State Code Origination
- ----------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C>
MLC696 680038239 HUELSTER EUGENE 8735 SE SANDY LANE HOBE SOUND FL 33455 30,000.00
MLC696 680041993 RUBIO LUIS 14 BUTTERNUT DRIVE NEW CITY NY 10956 131,000.00
MLC696 680044690 BOROWIK AZRIEL 112 SHOTWELL AVE STATEN ISLAND NY 10312 30,000.00
MLC696 680070414 PEDRAZZI ROBERT 13534 TEXAS WOODS CIR ORLANDO FL 32824 44,500.00
MLC696 680112117 MAGGIO CHARLES J 7800 3RD AVENUE SOUTH ST PETERSBURG FL 33707 125,000.00
MLC696 680145877 DENNISON THOMAS E 694 TURNERSBURG HIGHWAY STATESVILLE NC 28677 38,500.00
MLC696 680171444 DOUGHERTY NORMAN J 50 QUICK SET ROAD LEVITTOWN PA 19057 58,000.00
MLC696 800093908 RAMSAY JAMES M 30399 HIGHWAY 27 GUYS MILLS PA 16327 66,000.00
MLC696 800106775 ANDERSON HENRY T 4067 REMSEN ST SEAFORD NY 11783 40,600.00
MLC696 800119810 CULOTTA SALVATORE 10 TRICIA WAY STATEN ISLAND NY 10309 180,000.00
MLC696 800119943 MILLER mainE 7 THE PARKWAY HARRINGTON PARK NJ 07640 30,000.00
MLC696 800124596 MONTI INES DIANA 2863 BUHRE AVE BRONX NY 10461 191,250.00
MLC696 800125528 COLGLAZIER R SHIRLEY 542 WIMBLETON DRIVE RALEIGH NC 27609 15,000.00
MLC696 800130676 WATSON JACOB G A 247 SOUTH 5TH ST COLUMBIA PA 17512 48,188.00
MLC696 800131971 FREEMAN DWAYNE 216 WILLOWCREEK AVE SCHENECTADY NY 12304 76,500.00
MLC696 800132730 JONES GERALDINE 4929 CARLISLE STREET PHILADELPHIA PA 19141 28,060.00
MLC696 800135097 FRANCO ABRAHAM 713 CRAWFORD AVE BROOKLYN NY 11223 85,000.00
MLC696 800135477 SAVELLI JOHN 2627 CHESTNUT ST ERIE PA 16508 43,200.00
MLC696 800136517 ROBINSON WILTON 261 REMSEN AVE BROOKLYN NY 11212 128,000.00
MLC696 800138752 GARLASCO JOHN 516 OTTO PLACE PARAMUS NJ 07652 150,000.00
MLC696 800139669 ZAYAK ELAINE 245 ACKERMAN AVE RIDGEWOOD NJ 07450 33,000.00
MLC696 800139719 PHILLIPS BONALD 901 E 39TH ST BROOKLYN NY 11210 120,000.00
MLC696 800141954 WILSON DAVID W 154 RICHFIELD AVE SYRACUSE NY 13205 20,415.00
MLC696 800143661 MILLER MICHELLE C 11 SPARTAN PLACE DIX HILLS NY 11746 64,870.00
MLC696 800143877 THOMPSON VINCENT E 1359 BOULEVARD LORRAINE ATLANTA GA 30311 78,300.00
MLC696 800145013 BURKE RICHARD JR 44 MUNSON AVENUE WEST HEMPSTEAD NY 11552 25,250.00
MLC696 800147506 BYRNE JAMI A 31 WESTCHESTER DRIVE LITTLETON MA 01460 17,400.00
MLC696 800147936 HERRIOTT JOHN 3087 LOWDER RD SUMTER SC 29153 63,000.00
MLC696 800149718 FERRO LOUIS 435 MAYFLOWER AVENUE BRENTWOOD NY 11717 20,000.00
MLC696 800150534 CLARK DENISE L 882 LETORT ROAD WASHINGTON PA 17582 13,525.00
MLC696 800151375 BROCKWAY JOAN I 5 LOTUS AVE EAST HAMPTON NY 11937 60,000.00
MLC696 800152498 CUEVAS JUSTINIANO 10735 124TH ST RICHMOND HILL NY 11419 136,000.00
MLC696 800155137 RUHL DENNIS L 917 HANNAH DRIVE LITITZ PA 17543 35,000.00
MLC696 800155657 CATHERS DONALD H 11 MARION DRIVE COVENTRY RI 02816 28,000.00
MLC696 800156226 HAIN MICHAEL D 1011 DURYEA AVENUE READING PA 19605 13,400.00
MLC696 800156374 CUOZZO JUDITH 26 LONG BROOKE LANE FREEHOLD NJ 07728 30,000.00
MLC696 800158032 MACIOLEK THOMAS J 38 SOUTH MAIN STREET WESTBROOK CT 06498 48,500.00
MLC696 800158214 CARR TERRY L 8729 ANTRIM CHURCH ROAD GREENCASTLE PA 17225 68,000.00
MLC696 800158354 NAQVI SYED B 242 BRUNSWICK STREET JERSEY CITY NJ 07306 33,000.00
MLC696 800159402 BRUCE DONALD PAUL 10807 FIELDWOOD DRIVE FAIRFAX VA 22030 51,000.00
MLC696 800159576 MARTIN FRANK W 14443 JENNINGS ROAD COLLINS NY 14034 164,900.00
MLC696 800160822 DRAGO JOHN MICHAEL 6 WATER STREET HIGHLAND LAKES NJ 07422 87,000.00
MLC696 800160897 WARD BARBARA 656 ALABAMA AVENUE BROOKLYN NY 11207 140,250.00
MLC696 800162877 DAVIS MARTHA VIADANA 330 HILLSIDE LANE KENNETT SQUARE PA 19348 13,500.00
MLC696 800164220 VAUGHAN SCOTT 2560 SECOND STREET PIKE PENNS PARK PA 18943 92,500.00
MLC696 800164634 DOLES CHESTER J 615 WINTERS MOUNTAIN DAHLONEGA GA 30533 20,825.00
MLC696 800165656 BANKS WILLIAM F 4009 W FOREST PARK AVE BALTIMORE MD 21207 26,580.00
MLC696 800165979 BENDER JAMES R 834 WASHINGTON ST UNIT 4 HOBOKEN NJ 07030 75,000.00
MLC696 800167025 TOLLAKSEN CAROL A 2020 MILLCREEK ROAD LANCASTER PA 17602 50,400.00
MLC696 800167058 SMITH JACK PAUL 784 BURNT HICKORY ROAD DOUGLASVILLE GA 30134 24,000.00
MLC696 800167900 GARVIN HABAKKUK 119 NATHALIE AVENUE AMITYVILLE NY 11701 103,500.00
MLC696 800168213 CHRISTIANSEN JAMES E 23 HAROLD AVENUE GREENWICH CT 06830 45,000.00
MLC696 800169476 BAKER OLIVIA 147 BUSHEY AVENUE YONKERS NY 01087 25,000.00
MLC696 800170821 GLASS MERYL T 378 OAK AVE CEDARHURST NY 11516 85,000.00
MLC696 800171688 BUCHER ROBERT L 5120 CIRCLE DRIVE HARRISBURG PA 17112 15,000.00
MLC696 800172538 AMATO HENRY J 3 EDNA LANE COMMACK NY 11725 14,960.00
MLC696 800172785 MCCOY RANDY L 102 NORTH BALTIMORE AVENUE MOUNT HOLLY SPRINGS PA 17065 25,300.00
MLC696 800172942 JOHNSON JOSEPH 302A MARION STREET BROOKLYN NY 11233 120,000.00
MLC696 800174815 MANGAN JOHN J 21 TREE BARK LANE NORTHAMPTON TOWNSHIP PA 18966 25,000.00
MLC696 800174955 WU JEFF 6 ABBOTT AVE PLYMOUTH CT 06786 16,700.00
MLC696 800175416 JONES MARY MARGARET 1223 IDLEWILD DRIVE CLEARWATER FL 34615 21,750.00
MLC696 800175630 EMERY DIANE THERESA 230 SUNSET DRIVE SOUTH ST. PETERSBURG FL 33707 30,275.00
MLC696 800176182 LEON DONALD A 128 EAST 94TH STREET BROOKLYN NY 11212 178,500.00
MLC696 800176893 RYALS ROBERT J 11555 EAST LAUREL COURT FLORAL CITY FL 34436 26,300.00
<CAPTION>
Cut-off Date First Original Current Scheduled
Principal Payment Maturity Rem Date LTV Mortgage Payment
Sale ID Account Balance Date Date Term Due Ratio Rate Int & Prin
- ------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
MLC696 680038239 29,603.15 12/08/96 11/08/16 233.26 06/08/97 71.4 9.400 277.68
MLC696 680041993 131,000.00 12/22/96 11/22/26 353.72 05/22/97 70.8 11.240 1,271.36
MLC696 680044690 29,390.56 01/02/97 12/02/06 114.05 06/02/97 63.5 11.100 414.95
MLC696 680070414 44,231.18 01/03/97 12/03/26 354.08 07/03/97 46.8 11.350 435.59
MLC696 680112117 125,000.00 03/12/97 02/12/12 176.42 06/12/97 78.4 10.750 1,166.85
MLC696 680145877 38,259.94 05/03/97 04/03/12 178.06 07/03/97 70.0 9.800 409.02
MLC696 680171444 58,000.00 05/07/97 04/07/17 238.19 05/07/97 47.9 10.850 592.76
MLC696 800093908 65,804.67 03/03/97 02/03/12 176.12 06/03/97 83.0 10.700 737.77
MLC696 800106775 40,520.01 05/21/97 04/21/07 118.65 06/21/97 81.2 11.750 576.64
MLC696 800119810 179,748.71 05/15/97 04/15/12 178.45 06/15/97 79.9 11.500 1,782.52
MLC696 800119943 30,000.00 06/07/97 05/07/12 179.18 06/07/97 81.3 13.950 354.27
MLC696 800124596 191,250.00 05/08/97 04/08/12 178.22 05/08/97 85.0 13.200 2,145.54
MLC696 800125528 15,000.00 06/16/97 05/16/12 179.47 06/16/97 77.8 10.500 165.81
MLC696 800130676 47,974.14 05/08/97 04/08/12 178.22 06/08/97 75.0 11.850 573.69
MLC696 800131971 76,500.00 05/04/97 04/04/12 178.09 06/04/97 90.0 11.400 751.75
MLC696 800132730 28,060.00 12/25/96 11/25/11 173.82 06/25/97 68.4 11.600 329.58
MLC696 800135097 85,000.00 04/24/97 03/24/12 177.73 05/24/97 79.6 14.900 1,183.83
MLC696 800135477 43,200.00 01/09/97 12/09/11 174.28 05/09/97 80.0 11.600 431.10
MLC696 800136517 128,000.00 05/15/97 04/15/27 358.45 06/15/97 80.0 14.250 1,542.00
MLC696 800138752 150,000.00 06/08/97 05/08/12 179.21 06/08/97 61.7 12.200 1,566.05
MLC696 800139669 33,000.00 06/07/97 05/07/12 179.18 06/07/97 89.6 13.250 371.51
MLC696 800139719 120,000.00 05/24/97 04/24/27 358.75 05/24/97 80.0 14.050 1,426.60
MLC696 800141954 20,415.00 05/18/97 04/18/12 178.55 05/18/97 89.6 12.750 254.95
MLC696 800143661 64,870.00 06/20/97 05/20/12 179.61 06/20/97 84.9 12.750 704.94
MLC696 800143877 78,300.00 05/02/97 04/02/27 358.03 05/02/97 90.0 12.500 835.66
MLC696 800145013 25,250.00 06/20/97 05/20/12 179.61 06/20/97 85.0 11.850 256.81
MLC696 800147506 17,400.00 06/12/97 05/12/17 239.34 06/12/97 78.7 12.750 200.76
MLC696 800147936 62,683.95 05/01/97 04/01/17 238.00 06/01/97 88.7 13.350 753.86
MLC696 800149718 20,000.00 05/23/97 04/23/17 238.72 05/23/97 83.1 12.950 233.60
MLC696 800150534 13,525.00 06/19/97 05/19/12 179.57 06/19/97 89.2 11.400 157.14
MLC696 800151375 60,000.00 06/06/97 05/06/17 239.15 06/06/97 40.0 11.500 639.86
MLC696 800152498 136,000.00 06/05/97 05/05/12 179.11 06/05/97 80.0 13.800 1,589.92
MLC696 800155137 34,868.90 05/09/97 04/09/07 118.26 06/09/97 85.0 11.250 487.09
MLC696 800155657 28,000.00 06/02/97 05/02/12 179.01 06/02/97 89.8 11.800 332.45
MLC696 800156226 13,400.00 05/21/97 04/21/12 178.65 05/21/97 90.0 11.950 160.39
MLC696 800156374 30,000.00 06/05/97 05/05/12 179.11 06/05/97 76.4 12.200 363.92
MLC696 800158032 48,500.00 05/23/97 04/23/12 178.72 05/23/97 89.9 11.990 498.50
MLC696 800158214 68,000.00 06/12/97 05/12/17 239.34 06/12/97 73.1 11.650 732.21
MLC696 800158354 33,000.00 05/21/97 04/21/12 178.65 06/21/97 84.8 11.990 395.84
MLC696 800159402 51,000.00 06/05/97 05/05/07 119.11 06/05/97 77.6 11.250 709.76
MLC696 800159576 164,900.00 06/01/97 05/01/12 179.00 06/01/97 85.0 10.750 1,848.44
MLC696 800160822 87,000.00 06/12/97 05/12/27 359.34 06/12/97 57.2 11.500 861.55
MLC696 800160897 140,250.00 04/28/97 03/28/12 177.86 05/28/97 85.0 12.990 1,550.35
MLC696 800162877 13,500.00 05/28/97 04/28/12 178.88 05/28/97 81.3 12.500 144.08
MLC696 800164220 92,183.55 05/18/97 04/18/12 178.55 06/18/97 84.9 12.500 1,140.08
MLC696 800164634 20,825.00 05/18/97 04/18/12 178.55 05/18/97 85.0 13.850 275.24
MLC696 800165656 26,580.00 05/21/97 04/21/12 178.65 06/21/97 79.9 15.200 375.66
MLC696 800165979 75,000.00 06/01/97 05/01/12 179.00 06/01/97 60.0 10.050 660.95
MLC696 800167025 50,269.71 05/22/97 04/22/12 178.68 06/22/97 80.7 11.250 580.78
MLC696 800167058 24,000.00 05/04/97 04/04/12 178.09 06/04/97 89.9 13.250 307.62
MLC696 800167900 103,500.00 05/04/97 04/04/17 238.09 05/04/97 90.0 12.250 1,157.71
MLC696 800168213 45,000.00 06/02/97 05/02/12 179.01 06/02/97 79.6 15.300 579.81
MLC696 800169476 25,000.00 06/05/97 05/05/12 179.11 06/05/97 68.0 13.000 276.55
MLC696 800170821 85,000.00 06/01/97 05/01/12 179.00 06/01/97 75.2 11.650 851.49
MLC696 800171688 15,000.00 05/14/97 04/14/17 238.42 05/14/97 80.0 12.990 175.63
MLC696 800172538 14,960.00 06/14/97 05/14/12 179.41 06/14/97 80.9 13.600 195.22
MLC696 800172785 25,300.00 06/19/97 05/19/12 179.57 06/19/97 79.9 14.250 341.19
MLC696 800172942 120,000.00 06/23/97 05/23/12 179.70 06/23/97 85.7 11.150 1,156.41
MLC696 800174815 25,000.00 06/01/97 05/01/12 179.00 06/01/97 85.5 12.750 312.21
MLC696 800174955 16,700.00 06/12/97 05/12/12 179.34 06/12/97 85.0 13.000 211.30
MLC696 800175416 21,750.00 06/21/97 05/21/17 239.64 06/21/97 84.9 11.990 239.33
MLC696 800175630 30,275.00 06/12/97 05/12/17 239.34 06/12/97 90.0 12.300 339.71
MLC696 800176182 178,500.00 06/19/97 05/19/12 179.57 06/19/97 85.0 11.050 1,706.64
MLC696 800176893 26,300.00 06/06/97 05/06/17 239.15 06/06/97 72.0 12.500 298.80
</TABLE>
<PAGE>
Page 16 6/24/97
ALLIANCE FUNDING COMPANY
A DIVISION OF SUPERIOR BANK FSB
SALE SCHEDULE
1997-2 CLASS 1 - INITIAL POOL OF FIXED RATE MORTGAGES - SETTLEMENT 6/25/97
<TABLE>
<CAPTION>
Principal
Zip Balance at
Sale ID Account Name Address City State Code Origination
- ----------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C>
MLC696 800177370 SUHAY PAULA L 2378 JEFFERSON AVENUE WASHINGTON PA 15301 55,800.00
MLC696 800177461 KNAPPENBERGE LUTHER D 2729 BLAKESLEE BOULEVARD W LEHIGHTON PA 18235 30,000.00
MLC696 800178519 WASHINGTON ROBERT 72 BEDFORD ROAD HEMPSTEAD NY 11550 100,000.00
MLC696 800179111 HAMACHER ROGER L 3809 MILLER ROAD KALAMAZOO MI 49001 52,900.00
MLC696 800179384 NUGENT SHEILA J 902 PEPPERIDGE LAKE ROAD EASTPORT NY 11941 30,000.00
MLC696 800180655 DERRY KEVIN 5 CONLU DRIVE WEST EAST ISLIP NY 11730 19,100.00
MLC696 800181091 SPALLA GARY S 6435 UNION AVENUE FINLEYVILLE PA 15332 31,000.00
MLC696 800182149 CHOBIAN JOSEPH A 486 ROOSEVELT DR OXFORD CT 06478 30,500.00
MLC696 800182180 CUNNINGHAM DENNIS R 3008 18TH AVENUE WEST BRADENTON FL 34205 40,000.00
MLC696 800182230 SCHNOERR ROSE 524 LOQUAT DRIVE ANNA MARIA FL 34216 66,700.00
MLC696 800182305 GALPERIN SEMYON 129 MORELAND ST STATEN ISLAND NY 10306 21,825.00
MLC696 800182958 BAKER VAN E. 3700 BEAVER CREEK DRIVE RALEIGH NC 27604 53,000.00
MLC696 800183071 HUMES FRANK 641 LYNNE DRIVE SOUTHAMPTON PA 18966 31,500.00
MLC696 800183212 CLARK DARRELL D 815 WEST PRATT STREET STARKE FL 32091 75,900.00
MLC696 800183550 SINCLAIR CAROLE M. 3515 CENTAVO COURT SPRING HILL FL 34607 19,000.00
MLC696 800184509 ROBINSON ARNOLD L 12 DRILL STREET PROVIDENCE RI 02908 20,000.00
MLC696 800184699 STYLC THOMAS A. 2878 CONSTELLATION WAY FINKSBURG MD 21048 66,500.00
MLC696 800185316 HILL WHITNEY W. 7213 BLUFFSIDE COURT RALEIGH NC 27615 21,000.00
MLC696 800185472 STEWART MARSHA C 1612 BRIGGS ST HARRISBURG PA 17103 43,730.00
MLC696 800185621 FLANNAGAN MARVIN L 101 KEITH COURT AUBURNDALE FL 33823 60,000.00
MLC696 800185779 WILLIAMSON BRUCE D 67 WOODBURY HILL WOODBURY CT 06798 50,000.00
MLC696 800186272 SEEJATTAN ERROS 70 CABOTA AVENUE COPIAGUE NY 11726 20,200.00
MLC696 800187098 ZAMULINSKY WILLIAM 306 BLAKEY ROAD WALLINGFORD PA 19086 29,000.00
MLC696 800187106 BERTRAND MEDALIANCE 75 WEST STREET SPRING VALLEY NY 10977 120,000.00
MLC696 800187510 ORGAZ JOSEPH 2630 BUCIDA DRIVE SARASOTA FL 34232 67,200.00
MLC696 800187635 DONOVAN CHRISTINE L 276 CIRCULAR AVENUE WATERBURY CT 06705 38,000.00
MLC696 800188245 LAMAR BARBARA JEAN 720 NORTH RHODES STREET MONTICELLO FL 32344 36,000.00
MLC696 800188278 BOOTH DEBRA H 5609 COUNTY ROAD 352 KEYSTONE HEIGHTS FL 32656 112,000.00
MLC696 800189276 LANGDON FRED J. 418 ORLANDO BOULEVARD PORT CHARLOTTE FL 33954 43,000.00
MLC696 800189342 EBY DOUGLAS R 320 CROSSWINDS DRIVE PALM HARBOR FL 34683 84,500.00
MLC696 800189995 BAKER MARK A 3758 SCHOONER COURT WOODSTOCK GA 30122 102,000.00
MLC696 800190209 THOMPSON RICHARD C 42 SOUTHBRIDGE ROAD BEAR DE 19701 15,200.00
MLC696 800190449 BINGAMAN LON H 270 PLEASANT HILL ROAD LEWISBERRY PA 17339 62,300.00
MLC696 800190704 VITIELLO ANGELINA 119 BATTERY AVENUE BROOKLYN NY 11209 100,000.00
MLC696 800190779 JONES-LEE DAISY M 12054 134TH PLACE NORTH LARGO FL 33778 11,800.00
MLC696 800190969 INCAMMICIA SETTIMO 18 BRIAN DRIVE EAST ISLIP NY 11730 24,800.00
MLC696 800191413 MCGINTY PETER A 1073 BRINTON ROAD PITTSBURGH PA 15221 42,925.00
MLC696 800191652 BESSEY JERRY 3111 PECKHEATH WYOMING MI 49509 16,000.00
MLC696 800191686 BROTHERS ROBERT J 64 STANDISH ROAD COLCHESTER CT 06415 77,176.00
MLC696 800191918 DODD KERRY D 4033 BROCKETT CREEK DRIVE TUCKER GA 30084 94,000.00
MLC696 800192700 SASALA MARK C 120 HILLTOP DRIVE KITTANNING PA 16201 31,000.00
MLC696 800194664 REA THERESA 10 HORNBECK ROAD POUGHKEEPSIE NY 12603 50,000.00
MLC696 800195182 CLEWIS STEVEN BRIAN 132 HANSARD DRIVE CHARLOTTE NC 28214 54,900.00
MLC696 800195216 BRANCH PHILLIP E 4416 BROWNES FERRY ROAD CHARLOTTE NC 28269 28,200.00
MLC696 800195711 MAHON MARK F 11310 SW 91ST COURT TIGARD OR 97223 48,450.00
MLC696 800195745 KING STEPHEN R 3612 MERIDEN AVENUE OLDSMAR FL 34677 10,000.00
MLC696 800197071 SCHOOK GEORGE S 39 MERIDIAN AVE KINGS PARK NY 11754 30,650.00
MLC696 800197691 BROWN EDITH S 1453 LIVELY RIDGE ROAD ATLANTA GA 30329 127,400.00
MLC696 800197832 BUTCHER MAE ELIZABETH 4593 LOUVENIA COURT TALLAHASSEE FL 32311 131,500.00
MLC696 800198103 KRONICK SARAH 1822 42ND AVENUE NORTH ST PETERSBURG FL 33714 13,000.00
MLC696 800198194 SUCARICHI ROBERT LEE 205 1ST AVENUE NORTHEAST LUTZ FL 33549 12,800.00
MLC696 800198293 MILLER MARGARET L 109 IMPERATO COURT TOMS RIVER NJ 08753 156,750.00
MLC696 800198673 TEDESCO MARIANNE 26 AMBER LANE LEVITTOWN NY 11756 28,000.00
MLC696 800199416 MAC KENNEY LAWRENCE R JR 712 QUAIL COURT NOKOMIS FL 34275 17,500.00
MLC696 800199556 MARTINEZ MERIDA 916 EAST 14TH AVENUE TAMPA FL 33605 56,700.00
MLC696 800200636 BONG JAMES L 4958 SE SANDRA AVENUE MILWAUKIE OR 97267 40,300.00
MLC696 800200669 KEITH BECKY P 3600 SADLERS WALK MARIETTA GA 30068 31,400.00
MLC696 800201808 GRIFFITH DERYCK 530 ROCKAWAY PARKWAY BROOKLYN NY 11212 44,500.00
MLC696 800202723 SANCHEZ OSCAR 146 DEPEW ST PEEKSKILL NY 10566 144,500.00
MLC696 800203077 SMITH TIMOTHY P 527 PARKS STREET ALLENTOWN PA 18102 25,900.00
MLC696 800203192 QUINTERO MARIA V 5941 CORAL WAY MIAMI FL 33155 16,800.00
MLC696 800204067 TANIS MARIE 1221 1227 EAST 91ST ST BROOKLYN NY 11226 249,900.00
MLC696 800204695 HANKS DON WAYNE 2533 CARRIAGE ROAD FAYETTEVILLE NC 28301 52,650.00
MLC696 800205387 BELZER MORRIS D 10 JEFFERSON BLVD PORT JEFFERSON STA. NY 11776 37,000.00
<CAPTION>
Cut-off Date First Original Current Scheduled
Principal Payment Maturity Rem Date LTV Mortgage Payment
Sale ID Account Balance Date Date Term Due Ratio Rate Int & Prin
- -------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
MLC696 800177370 55,800.00 06/19/97 05/19/17 239.57 06/19/97 85.8 12.400 630.04
MLC696 800177461 30,000.00 06/19/97 05/19/12 179.57 06/19/97 54.0 11.990 359.86
MLC696 800178519 100,000.00 06/13/97 05/13/17 239.38 06/13/97 58.4 11.550 1,069.88
MLC696 800179111 52,900.00 06/19/97 05/19/07 119.57 06/19/97 72.4 10.300 707.89
MLC696 800179384 29,943.19 05/18/97 04/18/12 178.55 06/18/97 78.3 11.600 352.37
MLC696 800180655 19,100.00 06/05/97 05/05/17 239.11 06/05/97 89.7 12.300 214.32
MLC696 800181091 31,000.00 06/19/97 05/19/17 239.57 06/19/97 65.0 12.500 352.20
MLC696 800182149 30,500.00 05/16/97 04/16/17 238.49 05/16/97 85.8 13.550 369.35
MLC696 800182180 40,000.00 06/27/97 05/27/17 239.84 06/27/97 46.5 11.750 433.48
MLC696 800182230 66,700.00 06/02/97 05/02/17 239.01 06/02/97 52.0 10.600 670.41
MLC696 800182305 21,825.00 06/19/97 05/19/12 179.57 06/19/97 84.8 12.750 272.56
MLC696 800182958 53,000.00 06/21/97 05/21/12 179.64 06/21/97 88.5 11.750 627.59
MLC696 800183071 31,500.00 06/12/97 05/12/07 119.34 06/12/97 81.5 10.400 423.28
MLC696 800183212 75,900.00 06/20/97 05/20/12 179.61 06/20/97 83.8 11.900 906.05
MLC696 800183550 19,000.00 06/05/97 05/05/12 179.11 06/05/97 70.8 10.900 214.76
MLC696 800184509 20,000.00 06/14/97 05/14/17 239.41 06/14/97 75.9 11.750 216.74
MLC696 800184699 66,500.00 06/02/97 05/02/12 179.01 06/02/97 89.9 11.550 778.96
MLC696 800185316 21,000.00 06/21/97 05/21/17 239.64 06/21/97 79.0 13.950 260.38
MLC696 800185472 43,730.00 06/13/97 05/13/17 239.38 06/13/97 80.9 10.300 430.73
MLC696 800185621 60,000.00 06/14/97 05/14/27 359.41 06/14/97 75.9 12.950 661.38
MLC696 800185779 50,000.00 06/05/97 05/05/12 179.11 06/05/97 51.8 10.950 566.73
MLC696 800186272 20,200.00 06/13/97 05/13/17 239.38 06/13/97 89.8 11.800 219.61
MLC696 800187098 29,000.00 05/28/97 04/28/12 178.88 05/28/97 84.7 13.850 383.29
MLC696 800187106 120,000.00 06/01/97 05/01/12 179.00 06/01/97 81.0 12.990 1,517.51
MLC696 800187510 66,587.76 05/25/97 04/25/12 178.78 06/25/97 80.0 13.300 759.16
MLC696 800187635 38,000.00 06/05/97 05/05/12 179.11 06/05/97 47.5 12.650 472.07
MLC696 800188245 36,000.00 06/01/97 05/01/27 359.00 06/01/97 80.0 14.000 426.55
MLC696 800188278 112,000.00 06/14/97 05/14/27 359.41 06/14/97 73.6 11.900 1,143.43
MLC696 800189276 43,000.00 06/14/97 05/14/17 239.41 06/14/97 89.1 11.650 463.02
MLC696 800189342 84,500.00 05/25/97 04/25/12 178.78 06/25/97 89.9 11.750 852.95
MLC696 800189995 100,843.55 05/23/97 04/23/12 178.72 06/23/97 85.0 13.200 1,304.00
MLC696 800190209 15,200.00 06/05/97 05/05/12 179.11 06/05/97 89.9 12.900 191.32
MLC696 800190449 62,300.00 06/13/97 05/13/12 179.38 06/13/97 79.7 14.000 738.17
MLC696 800190704 100,000.00 06/27/97 05/27/12 179.84 06/27/97 35.7 11.750 1,009.41
MLC696 800190779 11,800.00 06/28/97 05/28/17 239.87 06/28/97 89.8 12.300 132.40
MLC696 800190969 24,763.62 06/02/97 05/02/17 239.01 07/02/97 74.9 12.100 274.80
MLC696 800191413 42,925.00 06/09/97 05/09/12 179.24 06/09/97 85.0 11.300 418.54
MLC696 800191652 16,000.00 06/05/97 05/05/07 119.11 06/05/97 82.5 12.650 235.61
MLC696 800191686 77,176.00 06/05/97 05/05/17 239.11 06/05/97 80.0 14.550 990.68
MLC696 800191918 94,000.00 06/05/97 05/05/12 179.11 06/05/97 69.1 12.050 970.51
MLC696 800192700 31,000.00 06/14/97 05/14/12 179.41 06/14/97 85.0 12.650 334.46
MLC696 800194664 50,000.00 06/05/97 05/05/12 179.11 06/05/97 44.6 12.100 518.16
MLC696 800195182 54,900.00 06/12/97 05/12/17 239.34 06/12/97 76.2 13.500 662.85
MLC696 800195216 28,200.00 06/12/97 05/12/07 119.34 06/12/97 89.9 11.650 398.90
MLC696 800195711 48,450.00 06/06/97 05/06/17 239.15 06/06/97 75.0 10.800 493.52
MLC696 800195745 10,000.00 06/19/97 05/19/12 179.57 06/19/97 79.9 13.000 126.52
MLC696 800197071 30,650.00 06/21/97 05/21/12 179.64 06/21/97 89.9 12.300 373.79
MLC696 800197691 127,400.00 06/02/97 05/02/12 179.01 06/02/97 70.0 10.950 1,208.45
MLC696 800197832 131,500.00 06/16/97 05/16/27 359.47 06/16/97 85.9 9.900 1,144.30
MLC696 800198103 13,000.00 06/09/97 05/09/12 179.24 06/09/97 79.9 13.600 169.65
MLC696 800198194 12,800.00 06/13/97 05/13/12 179.38 06/13/97 90.0 11.900 152.80
MLC696 800198293 156,750.00 06/14/97 05/14/12 179.41 06/14/97 75.0 12.500 1,672.93
MLC696 800198673 28,000.00 06/09/97 05/09/12 179.24 06/09/97 87.5 11.900 334.25
MLC696 800199416 17,500.00 06/08/97 05/08/07 119.21 06/08/97 80.0 12.500 256.16
MLC696 800199556 56,700.00 06/13/97 05/13/12 179.38 06/13/97 90.0 11.550 664.17
MLC696 800200636 40,300.00 06/19/97 05/19/12 179.57 06/19/97 78.8 10.400 442.98
MLC696 800200669 31,400.00 06/12/97 05/12/12 179.34 06/12/97 85.5 13.000 397.29
MLC696 800201808 44,500.00 05/15/97 04/15/12 178.45 06/15/97 84.6 13.350 504.46
MLC696 800202723 144,500.00 06/19/97 05/19/12 179.57 06/19/97 84.9 11.600 1,442.01
MLC696 800203077 25,900.00 06/13/97 05/13/12 179.38 06/13/97 70.0 10.750 241.77
MLC696 800203192 16,800.00 06/19/97 05/19/12 179.57 06/19/97 84.9 12.750 209.80
MLC696 800204067 249,900.00 05/24/97 04/24/27 358.75 05/24/97 87.3 12.350 2,638.02
MLC696 800204695 52,650.00 06/19/97 05/19/17 239.57 06/19/97 90.0 11.550 563.29
MLC696 800205387 37,000.00 06/14/97 05/14/17 239.41 06/14/97 85.0 11.900 404.83
</TABLE>
<PAGE>
Page 17 6/24/97
ALLIANCE FUNDING COMPANY
A DIVISION OF SUPERIOR BANK FSB
SALE SCHEDULE
1997-2 CLASS 1 - INITIAL POOL OF FIXED RATE MORTGAGES - SETTLEMENT 6/25/97
<TABLE>
<CAPTION>
Principal
Zip Balance at
Sale ID Account Name Address City State Code Origination
- ----------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C>
MLC696 800205452 LERVICK MELVIN C 9218 215TH AVENUE NORTHEAS REDMOND WA 98053 65,300.00
MLC696 800206153 ZURLO JOSEPH A 98 COOL RUN RD BRIDGETON NJ 08302 33,880.00
MLC696 800206385 WATSON MARGUERITE 1401 TRIMBLE KALAMAZOO MI 49001 43,250.00
MLC696 800207490 HARTLAUB RALPH L 508 PENN STREET HANOVER PA 17331 29,500.00
MLC696 800208100 RAMOS LIDYS 11530 RIGGS ROAD NAPLES FL 34114 55,000.00
MLC696 800208605 SANDERSON DONALD R 9675 NORFOLK DRIVE SANTA ANA CA 92705 50,000.00
MLC696 800208613 WOOD LAURA G 1611 CARDIFF ROAD NANTY GLO PA 15943 22,800.00
MLC696 800208845 CHILCOAT RONALD J. 1600 COACHLIGHT WAY DUNEDIN FL 34698 71,250.00
MLC696 800210452 EVANGELISTA ADHERBAL 4 CHERRY LAKE DRIVE BLUE RIDGE GA 30539 68,000.00
MLC696 800211146 POLSINELLI VINCENT 19 COLD SPRING COURT SOUTHAMPTON NY 11968 150,000.00
MLC696 800211369 MORENO FREDY 271 WEST END AVENUE LONG BRANCH NJ 07740 80,000.00
MLC696 800216996 FASULO DOMENICO 75 AVENUE U BROOKLYN NY 11223 25,000.00
MLC696 800217465 SINATRA FRANK 100 EAST MACON AVENUE STATEN ISLAND NY 10308 17,500.00
MLC696 800222093 SAFDIEH ABRAHAM 321 CROSBY AVENUE WEST DEAL NJ 07723 241,000.00
------------------------------------- ----------------
142 Sale Total 8,331,534.00
<CAPTION>
Cut-off Date First Original Current Scheduled
Principal Payment Maturity Rem Date LTV Mortgage Payment
Sale ID Account Balance Date Date Term Due Ratio Rate Int & Prin
- --------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
MLC696 800205452 65,300.00 06/13/97 05/13/12 179.38 06/13/97 87.7 11.400 758.68
MLC696 800206153 33,880.00 06/20/97 05/20/12 179.61 06/20/97 89.8 11.400 393.63
MLC696 800206385 43,250.00 06/19/97 05/19/07 119.57 06/19/97 84.8 11.900 618.01
MLC696 800207490 29,500.00 06/12/97 05/12/12 179.34 06/12/97 89.6 10.850 332.52
MLC696 800208100 55,000.00 06/19/97 05/19/12 179.57 06/19/97 67.4 10.750 513.41
MLC696 800208605 50,000.00 06/20/97 05/20/17 239.61 06/20/97 83.9 11.550 534.94
MLC696 800208613 22,800.00 06/27/97 05/27/12 179.84 06/27/97 84.7 12.750 284.73
MLC696 800208845 71,250.00 06/15/97 05/15/12 179.44 06/15/97 75.0 10.650 659.76
MLC696 800210452 68,000.00 06/19/97 05/19/27 359.57 06/19/97 85.0 12.500 725.73
MLC696 800211146 150,000.00 06/21/97 05/21/12 179.64 06/21/97 72.7 11.500 1,752.28
MLC696 800211369 80,000.00 06/09/97 05/09/12 179.24 06/09/97 80.0 12.500 853.81
MLC696 800216996 25,000.00 06/05/97 05/05/12 179.11 06/05/97 60.7 13.550 287.34
MLC696 800217465 17,500.00 05/25/97 04/25/12 178.78 06/25/97 84.8 13.450 199.76
MLC696 800222093 241,000.00 03/07/97 02/07/12 176.25 06/07/97 76.0 11.550 2,395.80
----------------------- ------ --------------------------
142 8,326,522.59 212.96 78.0 12.055 92,089.03
</TABLE>
<PAGE>
Page 18 6/24/97
ALLIANCE FUNDING COMPANY
A DIVISION OF SUPERIOR BANK FSB
SALE SCHEDULE
1997-2 CLASS 1 - INITIAL POOL OF FIXED RATE MORTGAGES - SETTLEMENT 6/25/97
<TABLE>
<CAPTION>
Principal
Zip Balance at
Sale ID Account Name Address City State Code Origination
- ----------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C>
SB61 661367425 BURNS RILEY E 12715 S. BISHOP CALUMET PARK IL 60643 48,300.00
SB61 661391243 ISHAM LESLEY ELIZABETH 122 NORTH CROSS SYCAMORE IL 60178 60,000.00
SB61 661391268 FARLOW FRANK M 16424 SOUTH TRUMBULL AVENU MARKHAM IL 60426 32,800.00
SB61 661395830 WESTLUND NELS E 628 WEST SUNSET DRIVE VILLA PARK IL 60181 60,500.00
SB61 661395848 MITCHELL GARRY S 2808 W. 173RD STREET HAZEL CREST IL 60429 37,700.00
SB61 661397836 BERRY FAYE ANN 2502 IRIS LANE CREST HILL IL 60435 25,500.00
SB61 661405902 MCLAUGHLIN MICHAEL G 9217 MOODY AVENUE OAK LAWN IL 60453 128,000.00
SB61 661408088 PATTERSON WILLIAM J 210 EARLY PARK FOREST IL 60466 11,500.00
SB61 661409136 DAVIS BETTY J 1743 N. LOREL CHICAGO IL 60639 70,500.00
SB61 661409839 MATTHYS WILLIAM 1045 SHERMER ROAD NORTHBROOK IL 60062 146,000.00
SB61 661414334 CHANSIRI SOMSAVATH 4047 INDIAN HILL DRIVE COUNTRY CLUB HILLS IL 60478 24,800.00
SB61 661414755 COPPOLINO MICHAEL B 438 CIRCLE AVENUE FOREST PARK IL 60130 40,000.00
SB61 661416610 GARST EDWARD C 8 MCINTOSH CLARENDON HILLS IL 60514 61,000.00
SB61 661417493 WILLIAMS JOHN 7741 NASHVILLE BURBANK IL 60454 86,200.00
SB61 661417501 THORNE EARL W 14764 STATE ROUTE 38 DEKALB IL 60115 193,600.00
SB61 661417519 CARRILLO JR LOUIS 21641 OLIVIA SAUK VILLAGE IL 60411 12,700.00
SB61 661417550 VILLALOBOS RAUL 1017 GLEN ROCK WAUKEGAN IL 60085 65,600.00
SB61 661418392 SUCHY LOUIS J 2445 S. EUCLID BERWYN IL 60402 18,400.00
SB61 661418400 KROENING WILLIAM L 348 CHERRY VALLEY VERNON HILLS IL 60061 90,400.00
SB61 661421560 BROYLES ANITA M 870 STONEBRIDGE LANE BUFFALO GROVE IL 60089 135,000.00
SB61 661424333 CASEY MICHAEL J 2214 PLUMTREE DRIVE NAPERVILLE IL 60565 193,500.00
SB61 661424366 MIRAVETE ROGER E 939 DUNLOP AVENUE FOREST PARK IL 60130 93,100.00
SB61 661424374 JENSEN MARGARET BOYD 1032 SHERIDAN AVENUE DEERFIELD IL 60015 21,000.00
SB61 661428920 TROFIMCHUCK MATTHEW P 670 N THIRD ST COAL CITY IL 60416 57,000.00
SB61 661430793 LENTZ CHARLES 526 S. PRAIRIE ST. BATAVIA IL 60510 117,200.00
SB61 661430801 MCKELPIN ORDEANER 4500 S. LEAMINGTON AVENUE CHICAGO IL 60638 45,500.00
SB61 661431932 HURBANIS KENNETH R 3844 S. HARVEY BERWYN IL 60402 18,100.00
SB61 661432971 CAMACHO FERNANDO 1305 SACRAMENTO DRIVE CARPENTERSVILLE IL 60110 105,300.00
SB61 661441055 BAYLON RUPERTO 2729 AUDREY WAUKEGAN IL 60087 12,500.00
SB61 661443523 BIRCHALL EDWIN L 523 W. NORTH AVENUE BARTLETT IL 60103 21,300.00
SB61 661447268 FALL STEVEN J 6924 GLENWOOD LANE HANOVER PARK IL 60103 28,400.00
SB61 661447284 HUTCHERSON SHARON 824 NORTH DAY AVENUE ROCKFORD IL 61101 40,800.00
SB61 661451674 HECKMAN LARRY L 19831 DICE STREET SOUTH BEND IN 46614 19,600.00
SB61 661451922 KERN RUSSELL L 50 JON STREET METROPOLIS IL 62960 25,000.00
SB61 661454363 VILLEGAS LEORA E 1106 GARDNER ROAD WESTCHESTER IL 60154 59,000.00
SB61 661455089 MALMSTEDT DENNIS J 341 ANTELOPE TRAIL CAROL STREAM IL 60188 62,300.00
SB61 661456848 SWISHER WALTER R 1418 W RICHMOND ST KOKOMO IN 46901 20,800.00
SB61 661457705 DORSETT RICHARD M 2036 LIONCREST RICHTON PARK IL 60471 39,900.00
SB61 661458638 MASTERSON JULIA 20 TERRACE HEIGHTS JEFFERSONVILLE IN 47130 51,400.00
SB61 661458752 ENGEL BETTYE 3929 N. FULTON AVE EVANSVILLE IN 47710 60,300.00
SB61 661462184 GRESKOWIAK THOMAS W 901 TIMBER PLACE NEW LENOX IL 60451 121,000.00
SB61 661465815 JOHNSON JOE E 9500 WINTON RD CINCINNATI OH 45231 87,300.00
SB61 661466904 BLANTON BRENDA K 514 N. SUNNYSIDE AVE. SOUTH BEND IN 46617 31,100.00
SB61 661466987 HUDDLESTON SANDRA L 2036 E EAST COURT RICHMOND KY 40475 41,400.00
SB61 661471037 BONILLA RODOLFO 1322 32ND AVE MELROSE PARK IL 60160 100,000.00
------------------------------------- ----------------
45 Sale Total 2,821,300.00
<CAPTION>
Cut-off Date First Original Current Scheduled
Principal Payment Maturity Rem Date LTV Mortgage Payment
Sale ID Account Balance Date Date Term Due Ratio Rate Int & Prin
- -------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
SB61 661367425 47,975.01 04/01/97 02/14/12 177.00 06/24/97 69.0 10.000 479.04
SB61 661391243 59,833.47 03/01/97 01/07/17 236.00 05/24/97 60.0 12.125 614.61
SB61 661391268 32,540.25 03/01/97 01/14/12 176.00 06/21/97 84.8 11.400 351.72
SB61 661395830 60,367.73 03/01/97 01/14/12 176.00 06/01/97 56.0 12.125 674.65
SB61 661395848 37,568.21 03/01/97 01/07/17 236.00 05/24/97 84.9 13.750 426.41
SB61 661397836 25,326.86 04/01/97 02/14/12 177.00 06/24/97 52.5 9.900 251.47
SB61 661405902 127,842.49 05/01/97 03/09/17 238.00 05/29/97 80.0 9.900 1,132.28
SB61 661408088 11,404.63 03/01/97 01/14/12 176.00 06/21/97 84.9 10.900 119.97
SB61 661409136 70,500.00 06/01/97 04/09/17 239.00 06/01/97 84.9 11.725 704.05
SB61 661409839 145,935.92 05/01/97 03/03/22 298.00 05/29/97 84.7 12.625 1,481.96
SB61 661414334 24,682.73 04/01/97 02/14/12 177.00 06/24/97 79.7 13.750 300.99
SB61 661414755 39,970.66 05/01/97 03/09/17 238.00 05/29/97 79.9 13.750 452.42
SB61 661416610 60,773.74 04/01/97 02/14/12 177.00 05/27/97 57.2 12.000 675.69
SB61 661417493 86,038.54 04/01/97 02/07/17 237.00 05/27/97 76.9 12.000 876.05
SB61 661417501 193,237.41 05/01/97 03/09/17 238.00 06/26/97 80.0 12.000 1,967.54
SB61 661417519 12,302.03 04/01/97 02/14/12 177.00 07/22/97 69.8 12.500 144.47
SB61 661417550 65,348.81 04/01/97 02/14/12 177.00 05/27/97 65.6 10.000 650.63
SB61 661418392 18,358.67 05/01/97 03/15/12 178.00 05/29/97 70.7 9.900 181.45
SB61 661418400 90,279.40 04/01/97 02/07/17 237.00 06/24/97 80.0 13.750 1,022.47
SB61 661421560 134,696.52 05/01/97 03/09/17 238.00 06/26/97 71.0 10.625 1,254.49
SB61 661424333 193,063.57 04/01/97 02/07/17 237.00 05/27/97 90.0 10.600 1,795.10
SB61 661424366 92,988.38 05/01/97 03/09/17 238.00 05/29/97 68.9 10.100 834.94
SB61 661424374 21,000.00 05/01/97 03/15/12 178.00 05/29/97 40.0 11.125 221.82
SB61 661428920 56,831.71 04/01/97 02/07/17 237.00 05/27/97 59.0 8.500 456.56
SB61 661430793 116,985.34 04/01/97 02/14/12 177.00 05/27/97 83.7 12.100 1,305.19
SB61 661430801 45,420.95 05/01/97 03/10/16 226.00 06/26/97 65.0 13.620 516.02
SB61 661431932 17,588.27 05/01/97 03/09/17 238.00 06/26/97 87.9 12.175 185.99
SB61 661432971 105,267.94 05/01/97 02/25/27 358.00 05/29/97 90.0 11.350 951.41
SB61 661441055 12,487.67 06/01/97 04/10/16 227.00 06/29/97 84.4 12.600 133.48
SB61 661443523 21,151.68 05/01/97 03/22/07 118.00 06/26/97 76.3 12.600 288.89
SB61 661447268 28,274.64 05/01/97 03/22/07 118.00 05/29/97 71.9 10.350 351.47
SB61 661447284 40,800.00 06/01/97 04/22/07 119.00 06/01/97 80.0 11.025 519.22
SB61 661451674 19,465.77 05/01/97 03/25/04 82.00 05/29/97 80.0 12.775 326.84
SB61 661451922 25,000.00 06/01/97 04/18/10 155.00 06/01/97 72.7 12.875 305.33
SB61 661454363 59,000.00 07/01/97 05/19/09 144.00 07/01/97 56.1 11.375 694.73
SB61 661455089 62,121.53 06/01/97 04/19/09 143.00 06/29/97 41.5 12.125 759.54
SB61 661456848 20,800.00 07/01/97 05/22/07 120.00 07/01/97 84.0 11.025 264.70
SB61 661457705 39,900.00 07/01/97 05/15/12 180.00 07/01/97 65.4 9.060 374.83
SB61 661458638 51,400.00 07/01/97 05/09/17 240.00 07/01/97 68.9 10.525 474.44
SB61 661458752 60,300.00 07/01/97 05/09/17 240.00 07/01/97 84.9 13.375 666.99
SB61 661462184 121,000.00 07/01/97 05/15/12 180.00 07/01/97 72.8 9.560 1,170.21
SB61 661465815 87,300.00 07/01/97 05/18/10 156.00 07/01/97 86.0 11.775 1,011.00
SB61 661466904 31,100.00 07/01/97 05/14/13 192.00 07/01/97 69.1 8.850 280.00
SB61 661466987 41,400.00 06/01/97 04/22/07 119.00 06/01/97 79.9 12.525 559.83
SB61 661471037 100,000.00 07/01/97 05/15/12 180.00 07/01/97 80.0 8.325 899.43
---------------------- ------ --------------------------
45 2,815,630.53 213.69 75.6 11.302 29,110.32
</TABLE>
<PAGE>
Page 19 6/24/97
ALLIANCE FUNDING COMPANY
A DIVISION OF SUPERIOR BANK FSB
SALE SCHEDULE
1997-2 CLASS 1 - INITIAL POOL OF FIXED RATE MORTGAGES - SETTLEMENT 6/25/97
<TABLE>
<CAPTION>
Principal
Zip Balance at
Sale ID Account Name Address City State Code Origination
- ----------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C>
SB62 661389296 HAGEN RICHARD 23155 W. KANKAKEE RIVER DR WILMINGTON IL 60481 43,200.00
SB62 661402842 HAMILTON SUSAN E 521 N. 4TH STREET DEKALB IL 60115 57,400.00
SB62 661409953 NOAKE GRAHAM P 821 WESTBURY DRIVE ALGONQUIN TOWNSHIP IL 60102 17,600.00
SB62 661414730 ZICKUR DENNIS D 38W320 STEVENS LANE ELGIN IL 60123 132,600.00
SB62 661428938 FIEDLER MARILYN C 8324 MENARD AVENUE BURBANK IL 60459 52,600.00
SB62 661432997 ANGELOS CAROLYN 716 ELDEN DRIVE CARY IL 60013 28,950.00
SB62 661435941 WATKINS LOLITA C 2117 CARMEL BLVD. ZION IL 60099 16,000.00
SB62 661435966 COHEN DALE P 1537 CROWE AVENUE DEERFIELD IL 60015 161,200.00
SB62 661437020 MCHUGH MICHAEL J 1301 E. MULBERRY LANE MOUNT PROSPECT IL 60056 52,100.00
SB62 661438077 MAVRICK WILLIAM J 908 SOUTH YORK RD ELMHURST IL 60126 29,500.00
SB62 661440982 JACOBSEN PAUL M 2110 FOX LANE DES PLAINES IL 60018 32,000.00
SB62 661441121 ARNOLD JILL T 569 WEBFORD AVE. DES PLAINES IL 60016 22,200.00
SB62 661445312 GARCIA KASSEL CARLOS 638 LORRAINE AVE. WAUKEGAN IL 60085 34,500.00
SB62 661445411 MATOZZI ALBERT L 4334 FISHERMANS TERRACE LYONS IL 60534 57,700.00
SB62 661449025 GIERNOTH WALTER E 35294 N WILSON RD INGLESIDE IL 60041 62,500.00
SB62 661451815 SHORT CYNTHIA 115 E. HOUSTON ST. GARRETT IN 46738 48,100.00
SB62 661451898 KRAJEFSKA CARL F JR 3049 OAKWOOD STREET PORTAGE IN 46368 81,900.00
SB62 661452300 MITCHELL TERRANCE 15016 W. RUSSELL ROAD ZION IL 60099 56,200.00
SB62 661452326 TRUSTY WALTER G 712 VASSAR DR. EDWARDSVILLE IL 62025 79,000.00
SB62 661455006 PRITCHARD ANGELA M 560 ROYALTON DR. NEW HAVEN IN 46774 12,300.00
SB62 661455055 LOVING TROY L 12129 SOUTH WENTWORTH CHICAGO IL 60628 62,200.00
SB62 661457820 DOMBROWSKI WILLIAM A 1818 NORTHOVER ROAD TOLEDO OH 43613 18,300.00
SB62 661458612 BAUER RICHARD E 52189 LELAND AVENUE SOUTH BEND IN 46637 35,400.00
SB62 661458745 WILLIAMS JR JAMES C 729 BLACKHAWK DR UNIVERSITY PARK IL 60466 57,600.00
SB62 661465922 GODFREY MELVIN H 6111 TAHITI DR. CINCINNATI OH 45224 60,000.00
------------------------------------- ----------------
25 Sale Total 1,311,050.00
<CAPTION>
Cut-off Date First Original Current Scheduled
Principal Payment Maturity Rem Date LTV Mortgage Payment
Sale ID Account Balance Date Date Term Due Ratio Rate Int & Prin
- --------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
SB62 661389296 43,099.34 05/01/97 03/09/17 238.00 06/26/97 40.2 10.350 394.07
SB62 661402842 57,306.13 05/01/97 03/09/17 238.00 06/26/97 78.6 13.000 620.70
SB62 661409953 17,502.08 04/01/97 02/14/12 177.00 06/24/97 89.9 12.050 195.48
SB62 661414730 132,544.15 05/01/97 02/25/27 358.00 05/29/97 57.6 9.850 1,060.55
SB62 661428938 52,374.47 05/01/97 03/09/17 238.00 08/21/97 69.5 11.050 502.77
SB62 661432997 28,950.00 07/01/97 05/15/12 180.00 07/01/97 82.9 10.850 301.18
SB62 661435941 15,970.46 06/01/97 04/15/12 179.00 06/29/97 73.9 12.000 177.23
SB62 661435966 161,200.00 06/01/97 03/28/27 359.00 06/01/97 74.9 11.525 1,476.33
SB62 661437020 52,100.00 06/01/97 04/22/07 119.00 06/01/97 84.9 10.850 658.27
SB62 661438077 29,500.00 06/01/97 04/22/07 119.00 06/01/97 80.2 11.550 383.56
SB62 661440982 32,000.00 06/01/97 04/09/17 239.00 06/01/97 89.9 11.850 322.13
SB62 661441121 22,200.00 06/01/97 04/22/07 119.00 06/01/97 47.5 10.600 277.61
SB62 661445312 34,500.00 06/01/97 04/24/05 95.00 06/01/97 85.6 11.850 514.85
SB62 661445411 57,620.30 06/01/97 04/09/17 239.00 06/29/97 64.8 9.000 479.16
SB62 661449025 62,500.00 07/01/97 05/10/16 228.00 07/01/97 69.4 10.525 585.97
SB62 661451815 48,100.00 07/01/97 05/19/09 144.00 07/01/97 89.9 11.525 570.36
SB62 661451898 81,900.00 06/01/97 04/17/11 167.00 06/01/97 90.0 11.925 927.25
SB62 661452300 56,200.00 07/01/97 05/09/17 240.00 07/01/97 62.4 10.975 534.53
SB62 661452326 79,000.00 07/01/97 05/22/07 120.00 07/01/97 64.7 10.275 974.64
SB62 661455006 12,300.00 07/01/97 05/22/07 120.00 07/01/97 89.8 12.275 164.67
SB62 661455055 62,200.00 07/01/97 05/22/07 120.00 07/01/97 73.1 14.125 895.60
SB62 661457820 18,300.00 07/01/97 05/22/07 120.00 07/01/97 62.1 11.475 237.21
SB62 661458612 35,400.00 07/01/97 05/15/12 180.00 07/01/97 40.2 8.850 328.48
SB62 661458745 57,600.00 07/01/97 05/22/07 120.00 07/01/97 76.8 9.630 691.66
SB62 661465922 60,000.00 07/01/97 05/22/07 120.00 07/01/97 75.0 10.525 747.97
----------------------- ------ --------------------------
25 1,310,366.93 213.18 71.7 11.031 14,022.23
</TABLE>
<PAGE>
Page 20 6/24/97
ALLIANCE FUNDING COMPANY
A DIVISION OF SUPERIOR BANK FSB
SALE SCHEDULE
1997-2 CLASS 1 - INITIAL POOL OF FIXED RATE MORTGAGES - SETTLEMENT 6/25/97
<TABLE>
<CAPTION>
Principal
Zip Balance at
Sale ID Account Name Address City State Code Origination
- ----------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C>
SB63 661345124 REMEZAS REGINA 7753 SOUTH NARRAGANSETT BURBANK IL 60459 135,000.00
SB63 661367417 MARTIN KENT 1528 SOUTH LOMBARD BERWYN IL 60402 73,600.00
SB63 661368910 GUERRERO FRANCISCO 1032 S. OAK STREET WEST CHICAGO IL 60185 97,500.00
SB63 661372409 SAJDAK GERALD J 10721 S. MACKINAW AVE. CHICAGO IL 60617 25,400.00
SB63 661375162 GANDY VERA 1533 N. MASON CHICAGO IL 60651 66,900.00
SB63 661376368 GENTRY JEFFREY L 4609 SARATOGA ROAD RICHTON PARK IL 60471 59,000.00
SB63 661378182 STASTNY JEFFREY J 463 DANBURY DRIVE CAROL STREAM IL 60188 123,200.00
SB63 661381632 KOENIGER KIRK B 4000 NORTH LINCOLN WESTMONT IL 60559 22,000.00
SB63 661381723 PEAY DAVID A 908 CORDOBA UNIVERSITY PARK IL 60466 63,700.00
SB63 661386680 FURNO PETER 316 MERRIMAC PARK FOREST IL 60466 58,200.00
SB63 661386714 BOYD ESTELLA 4842 WEST SUPERIOR CHICAGO IL 60644 18,500.00
SB63 661387571 BLANCHARD LOUIS D 17480 EASTGATE DRIVE COUNTRY CLUB HILLS IL 60478 103,200.00
SB63 661391250 HINOJOSA JOSEPH A 704 HENDERSON JOLIET IL 60432 46,800.00
SB63 661394064 CARVER JOYCE 219 NORTH LINDEN AVENUE WESTMONT IL 60559 24,700.00
SB63 661395962 HYSELL JOHN E SR 706 ROOF AVENUE ROMEOVILLE IL 60446 21,900.00
SB63 661397992 GLENZINSKI RONALD R 1828 WINDMILL DRIVE HANOVER PARK IL 60103 30,800.00
SB63 661399543 LYNCH VAN E 335 NORTH SACRAMENTO SYCAMORE IL 60178 84,100.00
SB63 661402974 CAIN LOREN 6431 SOUTH CARPENTER CHICAGO IL 60621 38,500.00
SB63 661404301 MORRIS DALE D 3417 JAMES WAY MCHENRY IL 60050 165,000.00
SB63 661409144 LAREM ROBERT J 5409 BOHLANDER AVENUE BERKELEY IL 60163 120,500.00
------------------------------------- ----------------
20 Sale Total 1,378,500.00
<CAPTION>
Cut-off Date First Original Current Scheduled
Principal Payment Maturity Rem Date LTV Mortgage Payment
Sale ID Account Balance Date Date Term Due Ratio Rate Int & Prin
- --------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
SB63 661345124 133,982.77 12/01/96 10/09/16 233.00 07/13/97 90.0 11.050 1,138.85
SB63 661367417 73,600.00 12/25/96 11/09/11 173.82 06/11/97 80.0 13.750 778.46
SB63 661368910 97,068.14 12/22/96 10/30/16 233.72 05/11/97 65.0 9.650 720.54
SB63 661372409 25,093.08 12/27/96 11/11/11 173.88 06/13/97 82.9 11.100 214.26
SB63 661375162 66,863.52 12/27/96 11/11/11 173.88 06/13/97 64.9 9.600 493.76
SB63 661376368 58,972.14 03/01/97 01/14/12 176.00 05/24/97 83.0 12.275 556.83
SB63 661378182 123,200.00 03/01/97 12/26/26 356.00 06/21/97 84.9 11.900 1,127.75
SB63 661381632 21,503.06 02/01/97 12/17/11 175.00 05/24/97 79.5 13.500 223.30
SB63 661381723 63,700.00 02/01/97 12/10/16 235.00 05/24/97 87.2 11.425 559.82
SB63 661386680 57,812.49 02/01/97 12/10/16 235.00 06/21/97 68.4 9.400 418.03
SB63 661386714 18,500.00 02/01/97 12/10/16 235.00 06/21/97 86.5 10.900 155.12
SB63 661387571 103,200.00 02/01/97 12/10/16 235.00 06/21/97 80.0 12.125 962.54
SB63 661391250 46,800.00 03/01/97 01/14/12 176.00 05/24/97 90.0 11.925 429.30
SB63 661394064 24,687.35 04/01/97 02/14/12 177.00 05/27/97 84.9 12.650 240.23
SB63 661395962 21,841.54 04/01/97 02/14/12 177.00 05/27/97 84.9 11.400 191.53
SB63 661397992 30,800.00 04/01/97 02/07/17 237.00 05/27/97 85.2 10.900 258.25
SB63 661399543 83,988.84 04/01/97 02/07/17 237.00 06/24/97 89.9 11.925 770.44
SB63 661402974 38,500.00 04/01/97 01/26/27 357.00 05/27/97 70.0 10.000 296.15
SB63 661404301 165,000.00 04/01/97 02/07/17 237.00 05/27/97 63.4 9.900 1,256.54
SB63 661409144 119,199.10 04/01/97 02/14/12 177.00 06/24/97 84.8 9.900 907.75
----------------------- ------ ------------------------------
20 1,374,312.03 229.55 79.1 11.067 11,699.45
</TABLE>
<PAGE>
Page 21 6/24/97
ALLIANCE FUNDING COMPANY
A DIVISION OF SUPERIOR BANK FSB
SALE SCHEDULE
1997-2 CLASS 1 - INITIAL POOL OF FIXED RATE MORTGAGES - SETTLEMENT 6/25/97
<TABLE>
<CAPTION>
Principal
Zip Balance at
Sale ID Account Name Address City State Code Origination
- ----------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C>
SB64 661434399 NIELSEN CLINT 1319 NORTH ROYAL CIRCLE ST GEORGE UT 84770 20,000.00
SB64 661447359 RAMOS JOHN F 1549-1551 S. 8TH STREET MILWAUKEE WI 53204 44,800.00
SB64 661447912 BURCH NANCY E 25313 51ST AVENUE EAST GRAHAM WA 98338 82,800.00
SB64 661456079 KLEIN ADAM N82 W22350 MARY ANN CT. LISBON WI 53089 25,100.00
SB64 661466268 ENGLISH JAMES 3175 SOARING BIRD CIRCLE COLORADO SPRINGS CO 80920 31,913.00
SB64 661469247 HUNTER PAMELA A 1483 NORTH 200 WEST OREM UT 84057 39,150.00
SB64 661470641 THOMSON NORMA 27665 ISLAND VIEW ROAD SHOREWOOD MN 55331 70,000.00
SB64 661472001 JOHNSON CYNTHIA M 1400 SW MELROSE AVE MCMINNVILLE OR 97128 22,400.00
SB64 661474163 MACIAS FILOGONIO 6002 SOUTH PARK WOOD DRIVE SALT LAKE CITY UT 84118 27,500.00
SB64 661475715 MILLER DOUG 2677 TELLER COUNTY ROAD 61 CRIPPLE CREEK CO 80813 100,000.00
SB64 661476218 WRIGHT ARLETTE 1498 BUNKER HILL ROAD MOORESVILLE IN 46158 74,000.00
SB64 661476358 WHETMAN GAY 5931 SOUTH MISTY WAY SALT LAKE CITY UT 84118 21,900.00
SB64 661476788 COATMAN WILLIAM 3515 EAST 117TH DRIVE THORNTON CO 80233 20,000.00
SB64 661477448 SWEET RICHARD 7433 103RD STREET WEST BLOOMINGTON MN 55438 44,400.00
SB64 661478602 ROCHELLE JAMES SR 2917 WEST 82ND ST CHICAGO IL 60652 30,000.00
SB64 661479782 THORKILDSON TORGER D 6874 FORSYTHIA DRIVE SPRINGFIELD OR 97478 72,000.00
SB64 661483024 GAST CHARLES 4726 DOVER DRIVE COLORADO SPRINGS CO 80916 57,820.00
SB64 661484527 FISCHER MERCY 1800 WEST 83RD AVENUE DENVER CO 80221 26,120.00
SB64 661485276 AVRITT GARY 736 WEST CUCHARRAS STREET COLORADO SPRINGS CO 80905 26,066.00
SB64 661486001 ORR JILL 9549 SOUTH WANGARATTA COUR HIGHLANDS RANCH CO 80126 14,469.00
SB64 661486613 GLIWA CHARLES 110 KAREN DRIVE DWIGHT IL 60420 42,400.00
SB64 661487348 BENISH MATTHEW N74 W36888 LAKESIDE HEIGHT OCONOMOWOC WI 53066 41,150.00
SB64 661488510 DRAPER BRYAN COREY 472 EAST FORT UNOIN BOULEV MIDVALE UT 84047 29,940.00
SB64 661489716 FURLONG HAROLD W JR 6525 WEST 25TH LANE EDGEWATER CO 80214 33,500.00
SB64 661490425 REID ROGER 2134 E WOODMAN DRIVE TEMPE AZ 85283 57,000.00
SB64 661492082 MC ATEE 23460 W. LAKEWOOD NORTH LA LAKE ZURICH IL 60047 111,600.00
------------------------------------- ----------------
26 Sale Total 1,166,028.00
<CAPTION>
Cut-off Date First Original Current Scheduled
Principal Payment Maturity Rem Date LTV Mortgage Payment
Sale ID Account Balance Date Date Term Due Ratio Rate Int & Prin
- --------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
SB64 661434399 20,000.00 06/09/97 05/09/12 179.24 06/09/97 84.9 12.950 220.46
SB64 661447359 44,700.24 04/28/97 03/28/27 357.86 06/28/97 77.2 10.300 403.12
SB64 661447912 82,280.05 05/01/97 04/01/17 238.00 07/01/97 88.0 12.250 926.17
SB64 661456079 25,100.00 06/27/97 05/27/12 179.84 06/27/97 86.6 12.300 263.99
SB64 661466268 31,913.00 07/01/97 06/01/17 240.00 07/01/97 90.0 11.400 338.13
SB64 661469247 39,150.00 07/01/97 06/01/12 180.00 07/01/97 74.1 11.000 444.98
SB64 661470641 70,000.00 07/01/97 06/01/17 240.00 07/01/97 41.7 10.500 698.87
SB64 661472001 22,400.00 07/01/97 06/01/12 180.00 07/01/97 89.7 12.300 235.59
SB64 661474163 27,500.00 07/01/97 06/01/12 180.00 07/01/97 83.3 12.750 343.43
SB64 661475715 100,000.00 07/01/97 06/01/12 180.00 07/01/97 56.1 11.100 959.89
SB64 661476218 74,000.00 07/01/97 06/01/12 180.00 07/01/97 79.9 11.250 718.73
SB64 661476358 21,900.00 07/01/97 06/01/12 180.00 07/01/97 71.5 12.400 268.50
SB64 661476788 20,000.00 07/01/97 06/01/12 180.00 07/01/97 84.1 12.650 215.78
SB64 661477448 44,400.00 07/01/97 06/01/12 180.00 07/01/97 73.5 11.500 518.68
SB64 661478602 30,000.00 06/28/97 05/28/17 239.87 06/28/97 57.0 10.800 305.58
SB64 661479782 72,000.00 07/01/97 06/01/12 180.00 07/01/97 89.7 11.800 729.54
SB64 661483024 57,820.00 07/01/97 06/01/12 180.00 07/01/97 59.0 11.850 588.08
SB64 661484527 26,120.00 07/01/97 06/01/17 240.00 07/01/97 90.0 11.550 279.45
SB64 661485276 26,066.00 07/01/97 06/01/12 180.00 07/01/97 79.9 10.900 246.27
SB64 661486001 14,469.00 07/01/97 06/01/12 180.00 07/01/97 89.9 11.400 168.11
SB64 661486613 42,400.00 06/28/97 05/28/17 239.87 06/28/97 89.9 12.050 468.34
SB64 661487348 41,150.00 07/01/97 06/01/12 180.00 07/01/97 84.9 12.250 500.51
SB64 661488510 29,940.00 06/12/97 05/12/12 179.34 06/12/97 66.9 12.700 372.92
SB64 661489716 33,500.00 07/01/97 06/01/17 240.00 07/01/97 89.9 12.050 370.03
SB64 661490425 57,000.00 07/01/97 06/01/12 180.00 07/01/97 84.8 12.250 693.29
SB64 661492082 111,600.00 07/01/97 06/01/17 240.00 07/01/97 89.9 13.050 1,311.46
------------------------- ------ ------------------------------
26 1,165,408.29 208.66 77.3 11.783 12,589.90
</TABLE>
<PAGE>
Page 22 6/24/97
ALLIANCE FUNDING COMPANY
A DIVISION OF SUPERIOR BANK FSB
SALE SCHEDULE
1997-2 CLASS 1 - INITIAL POOL OF FIXED RATE MORTGAGES - SETTLEMENT 6/25/97
<TABLE>
<CAPTION>
Principal
Zip Balance at
Sale ID Account Name Address City State Code Origination
- ----------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C>
SBC65 680026135 MILLER ALEXANDER 404 BERKSHIRE CT JOPPA MD 21085 15,000.00
SBC65 680031556 VAN SLYKE DONALD 25 WARREN STREET TULLY NY 13159 55,250.00
SBC65 680032919 SORRENTINO SALVATORE L 218 OCEAN AVE AMITYVILLE NY 11701 85,000.00
SBC65 680036761 ZHUKOV EDWARD 2564 EAST 28TH STREET BROOKLYN NY 11235 25,000.00
SBC65 680038486 GRIMES ANTHONY F 35 WEST HICKORY STREET SPRING VALLEY NY 10977 112,000.00
SBC65 680038965 PLIEGO JOHN A JR 78 MAPLE ST MERIDEN CT 06451 97,750.00
SBC65 680040599 GARVIN AL H 10 MILLER AVE AMITYVILLE NY 11701 88,000.00
SBC65 680047859 AFFELDT WILLIAM R RR 1 BOX 160 GREAT BEND PA 18821 20,000.00
SBC65 680060290 ESCOBAR SIMONA M 12209 DALEWOOD DR WHEATON MD 20902 95,200.00
SBC65 680065141 CARPENTER LAWRENCE 14591 224TH ST ROSEDALE NY 11413 158,400.00
SBC65 680066107 BELL MARION A 2022 CAMELOT DRIVE UNIT #9 CLEARWATER FL 34623 40,000.00
SBC65 680074440 DESIDERIO KAREN R 8704 ARROWHEAD DRIVE BAYONET POINT FL 34667 15,000.00
SBC65 680079589 CHERISMO RICHARDSON 39 MIDDIE DRIVE HUNTINGTON NY 11743 87,500.00
SBC65 680081320 DORMAN DAMION A 120 S MADISON ST ALLENTOWN PA 18102 72,000.00
SBC65 680088580 FAUSER ERIC 71 BEVIN RD NORTHPORT NY 11768 70,000.00
SBC65 680093721 SMITH JANIE EVANS 920 ESTES DRIVE ATLANTA GA 30310 30,000.00
SBC65 680096161 CROWLEY BRIAN 47 HILTON ST EAST ORANGE NJ 07017 117,000.00
SBC65 680097359 THOMPSON GREGORY L 301 PUTNAM ST SYRACUSE NY 13204 31,500.00
SBC65 680099884 DZIADUL STEVEN W 8255 QUAIL RD LARGO FL 33777 20,500.00
SBC65 680099991 SARGENT ROBERT A 1315 W ROBSTON TAMPA FL 33604 60,000.00
SBC65 680108099 GROSZ ARMIN 3401 PRAIRIE AVE MIAMI BEACH FL 33140 200,000.00
SBC65 680108727 COSTA JOHN R 1378 WOODLEY TOWN ROAD MAGNOLIA DE 19962 92,700.00
SBC65 680114733 BONILLA WILSON 63 N 5TH AVE LONG BRANCH NJ 07740 75,000.00
SBC65 680115995 FREITAG TINA M 7070 WHITE MOUNTAIN DR COLORADO SPRINGS CO 80915 21,000.00
SBC65 680118809 DOW JOELLE C 114-45 197TH STREET SAINT ALBANS NY 11412 94,350.00
SBC65 680120094 SHIPMAN BUFORD H 6106 EAST SHORE DRIVE PENSACOLA FL 32505 22,975.00
SBC65 680128287 CHRISTO RICHARD G 153 LAKE SHORE DRIVE MARLBOROUGH MA 01752 18,000.00
SBC65 680129038 HERRERA AYDEL 7031 -7033 SOUTHWEST 2ND S MIAMI FL 33144 60,000.00
SBC65 680130531 BALLARD DEMETRIUS L 756 FRANKLIN AVE WILKINSBURG PA 15221 14,000.00
SBC65 680134525 SHAYA SAMIR E 180 TANYARD ROAD RICHBORO PA 18954 41,594.00
SBC65 680136058 BONITZ PATRICIA A RD 3 BOX 57 MAPLE DRIVE DALTON PA 18414 23,150.00
SBC65 680138013 BLANKS ALLAN J SR 9807 SOUTHALL ROAD RANDALLSTOWN MD 21133 14,000.00
SBC65 680139706 DAVIES JOHN 312 PARK AVENUE CHALFONT PA 18914 16,000.00
SBC65 680145919 CRAIG LESTER 4670 AURANTIA ROAD MIMS FL 32754 49,600.00
SBC65 680148319 JOHNSON JEANETTE 19 COPIN DR FAIRFIELD NJ 08332 57,800.00
SBC65 680153707 SHEPARD JOE M 7005 LAKE FARM ROAD FAYETTEVILLE NC 28306 50,400.00
SBC65 680154234 RAMIREZ LINDA 130-18 123RD STREET WAKEFILED NY 11420 221,000.00
SBC65 680154275 BALLA KEVIN PAUL 5073 BRIDGE ROAD COCOA FL 32927 52,000.00
SBC65 680156106 SIGNORELLA JACQUELINE 567 SNOWDEN ROAD UPPER DARBY PA 19082 35,760.00
SBC65 680157989 MCINTIRE J MARCUS 355 PLUMOSA DRIVE LARGO FL 33771 27,000.00
SBC65 680159423 STRONG ELIZABETH J 6626 MANGROVE DRIVE WESLEY CHAPEL FL 33544 35,200.00
SBC65 680160157 COOK KATHY L 10 OWEN ROAD QUINCY FL 32351 59,000.00
SBC65 680161346 FERGUSON BETTY ANN 735 TENNESSEE DRIVE LAKELAND FL 33801 24,000.00
SBC65 680170974 SMITH KIRK P 150 KAY ROAD TAYLORSVILLE GA 30178 55,000.00
SBC65 680173960 DELUCIA THOMAS W 13 MORRIS RD EAST HAVEN CT 06513 36,100.00
SBC65 680174398 KLESCICH JAMES M 54 ANKROM ROAD WASHINGTON PA 15301 21,000.00
SBC65 680176872 LOWE EVA M 3005 BANYAN WAY PUNTA GORDA FL 33950 70,000.00
SBC65 680177490 BELL ROBIN M 515 FOREST DRIVE CASSELBERRY FL 32707 12,500.00
SBC65 680180288 HOLLINGSWORT BRUCE A 3010 24TH AVENUE NORTH ST PETERSBURG FL 33713 12,800.00
SBC65 680180841 NWAUWA NGOZI A 27 BECKER TERRACE IRVINGTON NJ 07111 38,000.00
SBC65 680187374 CAMPBELL-KEL VERONICA VIC 2897 COURTLAND BOULEVARD DELTONA FL 32738 68,800.00
SBC65 800122301 MILLER DONALD D 2088 HARPERS MILL WILLIAMSBURG VA 23183 48,794.00
SBC65 800122350 HOLLINS BEATRICE 223-08 113TH AVENUE QUEENS VILLAGE NY 11429 40,000.00
SBC65 800127912 WOOD THOMAS O 1081 CRANE STREET SCHENECTADY NY 12303 35,000.00
SBC65 800141830 GOELMAN ESTHER 4529 ROYAL PALM AVE MIAMI BEACH FL 33140 68,000.00
SBC65 800147613 GRIFFIN OTTO 3950 STARKS FERRY RD SUMTER SC 29154 18,750.00
SBC65 800147985 KASNER FREDRIC 39 FAIRWAY DRIVE PORT JEFFERSON NY 11777 210,000.00
SBC65 800148942 NIGRO LISA 711 SOUTHWEST 133 TERRACE DAVIE FL 33325 64,750.00
SBC65 800152969 STEWART ERIC F 732 N RESERVOIR ST LANCASTER PA 17602 58,000.00
SBC65 800155277 LANDWEHR COREY 11 ROLLING HILL GREEN STATEN ISLAND NY 10312 20,000.00
SBC65 800158206 YAMANITA KEN 21 WESTCHESTER COURT MIDDLE ISLAND NY 11953 106,165.00
SBC65 800158966 VINCENT BRUCE DENNIS 34 EAST ETTWEIN STREET BETHLEHEM PA 18018 37,200.00
SBC65 800159162 ROTHE JANE M 23 VAN CAR ROAD NEW MILFORD CT 06776 20,000.00
SBC65 800161192 MORGAN ROBERT L 775 DOWNEY AVENUE BRICK NJ 08723 43,500.00
<CAPTION>
Cut-off Date First Original Current Scheduled
Principal Payment Maturity Rem Date LTV Mortgage Payment
Sale ID Account Balance Date Date Term Due Ratio Rate Int & Prin
- ------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
SBC65 680026135 14,773.72 12/01/96 11/01/11 173.00 06/01/97 79.0 9.900 160.27
SBC65 680031556 55,250.00 12/26/96 11/26/11 173.85 05/26/97 85.0 12.200 576.83
SBC65 680032919 84,249.97 01/04/97 12/04/11 174.12 06/04/97 36.1 10.990 965.57
SBC65 680036761 24,761.48 01/16/97 12/16/11 174.51 06/16/97 59.3 11.100 285.72
SBC65 680038486 111,598.22 02/08/97 01/08/12 175.27 06/08/97 80.0 13.000 1,417.07
SBC65 680038965 97,599.10 12/01/96 11/01/26 353.00 06/01/97 85.0 9.850 847.01
SBC65 680040599 87,264.47 12/22/96 11/22/11 173.72 05/22/97 80.0 13.250 990.68
SBC65 680047859 20,000.00 01/16/97 12/16/11 174.51 06/16/97 32.7 10.150 177.74
SBC65 680060290 94,284.57 01/10/97 12/10/11 174.31 06/10/97 80.0 10.750 1,067.14
SBC65 680065141 158,400.00 02/08/97 01/08/12 175.27 06/08/97 80.0 13.500 1,814.33
SBC65 680066107 39,487.11 01/02/97 12/02/11 174.05 06/02/97 52.6 10.000 429.84
SBC65 680074440 14,831.20 01/17/97 12/17/11 174.54 06/17/97 84.9 9.900 160.27
SBC65 680079589 87,500.00 02/21/97 01/21/12 175.69 06/21/97 70.0 10.300 787.34
SBC65 680081320 71,798.60 02/08/97 01/08/12 175.27 06/08/97 90.0 11.250 699.31
SBC65 680088580 69,410.33 03/03/97 02/03/12 176.12 06/03/97 79.8 12.750 760.69
SBC65 680093721 29,919.26 03/03/97 02/03/17 236.12 06/03/97 56.6 10.600 301.53
SBC65 680096161 116,894.17 02/10/97 01/10/12 175.33 06/10/97 90.0 12.550 1,253.23
SBC65 680097359 31,486.64 03/05/97 02/05/12 176.19 06/05/97 70.0 10.750 294.05
SBC65 680099884 20,304.19 03/01/97 02/01/12 176.00 07/01/97 84.1 12.750 256.01
SBC65 680099991 59,614.99 03/01/97 02/01/12 176.00 06/01/97 78.9 12.250 729.78
SBC65 680108099 200,000.00 03/24/97 02/24/27 356.81 05/24/97 57.1 11.100 1,919.77
SBC65 680108727 92,700.00 04/06/97 03/06/12 177.14 05/06/97 90.0 10.650 858.38
SBC65 680114733 74,888.01 05/03/97 04/03/12 178.06 06/03/97 88.2 11.500 742.72
SBC65 680115995 20,860.10 03/28/97 02/28/12 176.94 06/28/97 83.5 13.000 265.70
SBC65 680118809 94,350.00 05/01/97 04/01/27 358.00 06/01/97 85.0 10.500 863.06
SBC65 680120094 22,861.22 04/05/97 03/05/07 117.11 06/05/97 86.9 11.400 321.71
SBC65 680128287 17,973.51 05/18/97 04/18/12 178.55 06/18/97 79.5 13.750 236.70
SBC65 680129038 59,799.14 04/07/97 03/07/12 177.17 06/07/97 50.9 10.250 537.66
SBC65 680130531 13,927.31 03/24/97 02/24/12 176.81 06/24/97 80.0 13.250 179.44
SBC65 680134525 41,594.50 05/23/97 04/23/12 178.72 06/23/97 80.9 10.990 395.80
SBC65 680136058 23,150.00 05/28/97 04/28/17 238.88 05/28/97 84.7 11.050 239.74
SBC65 680138013 13,984.38 05/14/97 04/14/12 178.42 06/14/97 79.8 14.250 168.66
SBC65 680139706 15,947.16 05/16/97 04/16/12 178.49 06/16/97 84.9 11.990 191.92
SBC65 680145919 49,600.00 05/01/97 04/01/12 178.00 06/01/97 80.0 12.500 611.33
SBC65 680148319 57,800.00 04/13/97 03/13/12 177.37 06/13/97 85.0 9.050 467.15
SBC65 680153707 50,400.00 04/24/97 03/24/12 177.73 05/24/97 79.5 11.990 604.56
SBC65 680154234 220,807.05 05/01/97 04/01/12 178.00 06/01/97 85.0 12.000 2,273.23
SBC65 680154275 52,000.00 05/01/97 04/01/12 178.00 06/01/97 74.2 11.850 619.08
SBC65 680156106 35,746.85 04/27/97 03/27/27 357.83 06/27/97 80.0 11.000 340.55
SBC65 680157989 27,000.00 05/23/97 04/23/12 178.72 06/23/97 77.4 13.990 359.39
SBC65 680159423 35,092.55 05/15/97 04/15/12 178.45 06/15/97 80.0 12.800 440.74
SBC65 680160157 59,000.00 05/01/97 04/01/17 238.00 06/01/97 89.3 12.900 687.03
SBC65 680161346 23,987.10 05/16/97 04/16/17 238.49 06/16/97 75.0 10.300 236.40
SBC65 680170974 54,852.00 05/18/97 04/18/12 178.55 06/18/97 84.6 12.900 692.27
SBC65 680173960 36,100.00 05/09/97 04/09/12 178.26 06/09/97 79.7 13.990 480.52
SBC65 680174398 20,972.34 05/28/97 04/28/12 178.88 06/28/97 57.4 11.500 245.32
SBC65 680176872 70,000.00 05/21/97 04/21/12 178.65 05/21/97 71.4 9.990 613.78
SBC65 680177490 12,500.00 06/01/97 05/01/12 179.00 06/01/97 83.0 12.750 156.10
SBC65 680180288 12,686.77 05/23/97 04/23/12 178.72 06/23/97 84.9 13.000 161.95
SBC65 680180841 37,973.56 05/22/97 04/22/12 178.68 06/22/97 70.3 11.000 361.88
SBC65 680187374 68,800.00 06/01/97 05/01/12 179.00 06/01/97 80.0 13.750 801.60
SBC65 800122301 48,794.00 04/24/97 03/24/12 177.73 06/24/97 70.0 11.500 483.20
SBC65 800122350 40,000.00 06/25/97 05/25/12 179.77 06/25/97 32.1 9.750 423.75
SBC65 800127912 35,000.00 06/05/97 05/05/27 359.11 06/05/97 48.9 10.750 326.72
SBC65 800141830 68,000.00 06/14/97 05/14/12 179.41 06/14/97 56.9 12.150 707.32
SBC65 800147613 18,750.00 05/09/97 04/09/12 178.26 05/09/97 75.0 13.100 238.47
SBC65 800147985 210,000.00 06/09/97 05/09/12 179.24 06/09/97 68.4 13.050 2,331.23
SBC65 800148942 64,750.00 06/19/97 05/19/17 239.57 06/19/97 83.8 11.050 670.55
SBC65 800152969 58,000.00 06/05/97 05/05/17 239.11 06/05/97 72.0 12.800 671.27
SBC65 800155277 20,000.00 06/05/97 05/05/12 179.11 06/05/97 65.0 11.000 227.32
SBC65 800158206 106,165.00 06/01/97 05/01/12 179.00 06/01/97 85.0 12.950 1,170.25
SBC65 800158966 37,200.00 06/13/97 05/13/17 239.38 06/13/97 75.3 11.550 397.99
SBC65 800159162 20,000.00 06/12/97 05/12/12 179.34 06/12/97 34.3 10.900 188.95
SBC65 800161192 43,500.00 06/01/97 05/01/17 239.00 06/01/97 79.9 14.150 545.68
</TABLE>
<PAGE>
Page 23 6/24/97
ALLIANCE FUNDING COMPANY
A DIVISION OF SUPERIOR BANK FSB
SALE SCHEDULE
1997-2 CLASS 1 - INITIAL POOL OF FIXED RATE MORTGAGES - SETTLEMENT 6/25/97
<TABLE>
<CAPTION>
Principal
Zip Balance at
Sale ID Account Name Address City State Code Origination
- ----------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C>
SBC65 800161739 MURRAY RUPERT R 313 BEACH 42ND ST FAR ROCKAWAY NY 11691 103,500.00
SBC65 800162208 TRUHE JOSEPH V 11720 GRANDVIEW AVENUE WHEATON MD 20902 71,000.00
SBC65 800164121 SCOTT EDWARD E 102 TAYLOR STREET PETROLIA PA 16050 23,400.00
SBC65 800164949 SHRADER KRISTA L 10435 TILLMAN ROAD CLARENCE NY 14031 30,000.00
SBC65 800165334 GHOLAR CHRISTELL 8551 SOUTHWEST 22ND STREET FORT LAUDERDALE FL 33324 27,600.00
SBC65 800165755 CARRINGTON KENMORE 193 NEW YORK AVENUE WESTBURY NY 11590 100,000.00
SBC65 800166084 BENDER JAMES R 834 WASHINGTON STREET # 6 HOBOKEN NJ 07030 75,000.00
SBC65 800166621 HEMINGWAY GERTRUDE 4 KELLOGG STREET NORWALK CT 06850 93,500.00
SBC65 800168510 GRUBB RICHARD 14809 BRIDGEWATER LANE CHARLOTTE NC 28227 24,860.00
SBC65 800168619 WELCH RONALD A 845 FOREST OAK DRIVE LAWRENCEVILLE GA 30244 25,000.00
SBC65 800172306 GREGORIO JOHN 47 REDMONT ROAD WATCHUNG NJ 07060 67,350.00
SBC65 800172553 KIRK MICHAEL 542 BIRCH HOLLOW DRIVE SHIRLEY NY 11967 89,600.00
SBC65 800173023 WEINLEIN BARBARA A 175 GREEN VALLEY ROAD UNIONVILLE PA 19375 39,000.00
SBC65 800173726 STARNES CYNTHIA M. 173 LC STARNES LANE TAYLORSVILLE NC 28681 57,600.00
SBC65 800173759 THOMAS WILLIAM M. 3500 GLENRAVEN DRIVE RALEIGH NC 27604 74,600.00
SBC65 800173874 WECHT BONNIE 51 GLEN COURT POMPTON LAKES NJ 07442 49,100.00
SBC65 800174377 WARD RICHARD L 734 MAIN STREET WELLSVILLE OH 43968 28,800.00
SBC65 800176018 SMITH ALVIN 9820 AVENUE M BROOKLYN NY 11236 32,250.00
SBC65 800177321 FONTAINE VALERIE K 3016 BEARSKIN ROAD CHATHAM VA 24531 80,750.00
SBC65 800177925 SHAH ANIL 304 GRANDE RIVER BOULEVARD TOMS RIVER NJ 08753 54,000.00
SBC65 800178592 VIRGIL KEITH 5 SPORTSMAN AVENUE FREEPORT NY 11520 28,950.00
SBC65 800178659 FELTON WILLIAM SCOTT 1634 58TH STREET SOUTH TAMPA FL 33619 19,760.00
SBC65 800179004 WIGGINS HILDAGARD 1372 UNION ST BROOKLYN NY 11213 248,000.00
SBC65 800179269 BRYAN LISA D 5376 DUNTEACHIN DRIVE ELLICOTT CITY MD 21043 26,900.00
SBC65 800179624 BROCK JOHN RT 1 BOX 1295 COTTAGEVILLE SC 29435 34,000.00
SBC65 800179681 HILL WANDA A 211 EAST WOOD STREET NORRISTOWN PA 19401 46,400.00
SBC65 800179814 LANDIS DAVID H 149 CYPRESS DRIVE QUAKERTOWN PA 18951 15,500.00
SBC65 800180457 BERRIOS JAMES 4251 DRISTOL AVENUE SPRING HILL FL 34609 64,000.00
SBC65 800180572 AYOUB YALDA 10 ETHEL COURT WHEATLEY HEIGHTS NY 11798 150,000.00
SBC65 800181539 TURNER NORMAN JOHN 915 EAST 10TH STREET STUART FL 34994 51,900.00
SBC65 800182222 LEHMAN ROBERT A 1940 KESWICK PLACE DRIVE LAWRENCEVILLE GA 30243 60,000.00
SBC65 800184459 WILLIAMS LUELLA 3427 14TH AVENUE SOUTH ST. PETERSBURG FL 33711 13,627.00
SBC65 800184996 SMALL LARRY E 2954 W WAGONER ROAD PHOENIX AZ 85023 71,000.00
SBC65 800185738 MOORER EDWARD 1467 ESSEX DRIVE ORANGEBURG SC 29118 17,655.00
SBC65 800185761 WEIS MARTIN A 530 VALLEY GREEN DRIVE ATLANTA GA 30342 21,100.00
SBC65 800185886 SIEBER KELLY 6211 SKYLINE COURT SPRING HILL FL 34606 50,400.00
SBC65 800188120 OGONOWSKI JOHN 125 N DECKER ST BALTIMORE MD 21224 42,250.00
SBC65 800188187 KLINE JAMES G 2776 ANNA COURT GREENCASTLE PA 17225 62,100.00
SBC65 800188435 BELK TIMOTHY JAMES 3503 SECREST SHORTCUT ROAD MONROE NC 28110 45,700.00
SBC65 800189722 PARK BYUNG 1420 PULASKI ROAD EAST NORTHPORT NY 11731 70,000.00
SBC65 800190951 BRITTON SHERRI J 6330 BANDURA AVENUE NEW PORT RICHEY FL 34653 32,725.00
SBC65 800191066 FOWKES WILLIAM J 11 5TH STREET EAST HAMPTON NY 11937 40,000.00
SBC65 800191223 SMELTZ CHARLES H 1050 FISHING CREEK VALLEY HARRISBURG PA 17112 15,000.00
SBC65 800192981 MAKULA CARL A JR 43-19 61ST ST WOODSIDE NY 11377 59,000.00
SBC65 800193096 MARINO DOMENICK 28 STARR AVE STATEN ISLAND NY 10310 100,000.00
SBC65 800193492 BALISVIANO PHILIP E JR 21 BARTHOLOMEW AVE ANSONIA CT 06401 42,488.00
SBC65 800193583 MALDANADO HECTOR 364 WASHINGTON AVENUE BROOKLYN NY 11212 231,600.00
SBC65 800193815 PSIHOGIOS BONITA RUTH 6006 CECELIA DRIVE NEW PORT RICHEY FL 34653 44,800.00
SBC65 800194169 ERATO VINCENT 890 BAILIE BEACH RD MATTITUCK NY 11952 68,000.00
SBC65 800195638 FORAYTER RICK 2313 GRANT STREET VANCOUVER WA 98660 60,898.00
SBC65 800195869 WILLIAMS STEVEN J 1735 OAKES BOULEVARD NAPLES FL 34119 37,700.00
SBC65 800196560 D'ANGELO ANTHONY R 49 OCEANIC AVE STATEN ISLAND NY 10312 18,600.00
SBC65 800196719 ROSSOMANDO STEVEN M 185 WELLBROOK AVENUE STATEN ISLAND NY 10314 15,000.00
SBC65 800196867 LINDSAY GEORGE C 299 EVENING STAR DRIVE NAUGATUCK CT 06770 25,000.00
SBC65 800197279 REGESTER SANDRA W 266 EAST 52ND ST BROOKLYN NY 11203 82,000.00
SBC65 800197360 GILES DANIEL W 1921 EBENEZER ROAD CONYERS GA 30207 34,500.00
SBC65 800197469 SETTLE MICHELLE 261-63 WEST IVY STREET NEW HAVEN CT 06511 40,000.00
SBC65 800197980 SMITH JEFF 133 WEST HUDSON STREET LONG BEACH NY 11561 139,500.00
SBC65 800198392 SMITH BERNICE A 61 E. MARSHALL ST HEMPSTEAD NY 11550 104,000.00
SBC65 800198780 DENNIS MELVIN L 9703 NW 15TH AVENUE VANCOUVER WA 98665 22,500.00
SBC65 800199002 HARVARD GEORGE W. 5093 MEADOWLARK LANE TALLAHASSEE FL 32303 26,250.00
SBC65 800199051 ROBINSON HENRY J 3981 NEPTUNE DRIVE SOUTHEA ST PETERSBURG FL 33705 26,250.00
SBC65 800199341 JAIKARAN DYANAN 411 SOUTH 5TH AVENUE MOUNT VERNON NY 10550 114,750.00
SBC65 800199481 WINAND JACK H SR 3320 BONNIE DRIVE ELLENTON FL 34222 24,800.00
<CAPTION>
Cut-off Date First Original Current Scheduled
Principal Payment Maturity Rem Date LTV Mortgage Payment
Sale ID Account Balance Date Date Term Due Ratio Rate Int & Prin
- --------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
SBC65 800161739 103,500.00 06/19/97 05/19/12 179.57 06/19/97 90.0 9.900 1,105.89
SBC65 800162208 71,000.00 05/14/97 04/14/12 178.42 05/14/97 84.8 12.650 766.03
SBC65 800164121 23,400.00 06/27/97 05/27/27 359.84 06/27/97 90.0 11.550 232.62
SBC65 800164949 30,000.00 06/27/97 05/27/12 179.84 06/27/97 85.0 10.400 272.18
SBC65 800165334 27,600.00 06/01/97 05/01/12 179.00 06/01/97 74.8 12.900 347.39
SBC65 800165755 100,000.00 06/01/97 05/01/12 179.00 06/01/97 80.0 14.450 1,220.58
SBC65 800166084 75,000.00 06/01/97 05/01/12 179.00 06/01/97 60.0 10.050 660.95
SBC65 800166621 93,462.73 06/01/97 05/01/27 359.00 07/01/97 85.0 12.500 997.89
SBC65 800168510 24,860.00 05/22/97 04/22/12 178.68 06/22/97 89.9 12.950 313.73
SBC65 800168619 25,000.00 06/09/97 05/09/12 179.24 06/09/97 76.6 12.500 308.14
SBC65 800172306 67,350.00 05/25/97 04/25/12 178.78 05/25/97 85.0 14.350 816.70
SBC65 800172553 89,600.00 06/16/97 05/16/12 179.47 06/16/97 80.0 11.950 918.19
SBC65 800173023 39,000.00 06/21/97 05/21/12 179.64 06/21/97 84.5 11.990 467.81
SBC65 800173726 57,600.00 06/28/97 05/28/17 239.87 06/28/97 90.0 12.550 656.45
SBC65 800173759 74,600.00 06/28/97 05/28/07 119.87 06/28/97 74.6 11.950 1,068.14
SBC65 800173874 49,100.00 05/21/97 04/21/12 178.65 05/21/97 79.7 12.450 522.12
SBC65 800174377 28,800.00 07/01/97 06/01/12 180.00 07/01/97 80.0 11.900 343.80
SBC65 800176018 32,250.00 06/28/97 05/28/12 179.87 06/28/97 90.0 11.650 379.82
SBC65 800177321 80,750.00 06/05/97 05/05/17 239.11 06/05/97 85.0 10.550 808.91
SBC65 800177925 54,000.00 06/02/97 05/02/12 179.01 06/02/97 84.7 14.350 654.82
SBC65 800178592 28,950.00 06/16/97 05/16/12 179.47 06/16/97 83.9 12.850 316.85
SBC65 800178659 19,760.00 07/01/97 06/01/07 120.00 07/01/97 85.8 12.750 292.13
SBC65 800179004 248,000.00 06/14/97 05/14/12 179.41 06/14/97 85.5 14.700 3,076.41
SBC65 800179269 26,900.00 06/01/97 05/01/12 179.00 06/01/97 89.9 12.050 277.73
SBC65 800179624 34,000.00 07/01/97 06/01/12 180.00 07/01/97 68.0 11.250 391.80
SBC65 800179681 46,400.00 06/09/97 05/09/12 179.24 06/09/97 80.0 13.050 588.60
SBC65 800179814 15,495.22 05/18/97 04/18/12 178.55 06/18/97 80.9 12.600 192.05
SBC65 800180457 64,000.00 07/01/97 06/01/27 360.00 07/01/97 80.0 10.550 587.83
SBC65 800180572 150,000.00 06/16/97 05/16/12 179.47 06/16/97 73.1 11.250 1,456.89
SBC65 800181539 51,900.00 07/01/97 06/01/07 120.00 07/01/97 75.2 10.300 694.51
SBC65 800182222 59,370.28 05/25/97 04/25/12 178.78 06/25/97 50.8 13.200 673.11
SBC65 800184459 13,627.00 06/06/97 05/06/12 179.15 06/06/97 80.9 11.350 157.89
SBC65 800184996 71,000.00 06/23/97 05/23/17 239.70 06/23/97 74.7 10.900 728.03
SBC65 800185738 17,655.00 06/07/97 05/07/07 119.18 06/07/97 84.5 11.300 246.21
SBC65 800185761 21,100.00 06/06/97 05/06/12 179.15 06/06/97 34.5 13.500 273.95
SBC65 800185886 50,400.00 05/25/97 04/25/12 178.78 05/25/97 80.0 11.250 489.52
SBC65 800188120 42,250.00 06/01/97 05/01/12 179.00 06/01/97 69.9 11.750 426.48
SBC65 800188187 62,100.00 06/21/97 05/21/17 239.64 06/21/97 90.0 12.550 707.73
SBC65 800188435 45,700.00 06/27/97 05/27/12 179.84 06/27/97 67.2 11.050 520.86
SBC65 800189722 70,000.00 06/14/97 05/14/17 239.41 06/14/97 84.8 10.650 705.93
SBC65 800190951 32,725.00 06/20/97 05/20/27 359.61 06/20/97 79.8 11.750 330.33
SBC65 800191066 40,000.00 06/14/97 05/14/12 179.41 06/14/97 80.0 12.250 419.16
SBC65 800191223 15,000.00 06/05/97 05/05/07 119.11 06/05/97 88.4 11.700 212.61
SBC65 800192981 59,000.00 06/23/97 05/23/12 179.70 06/23/97 89.9 9.900 630.41
SBC65 800193096 100,000.00 07/01/97 06/01/17 240.00 07/01/97 45.2 11.750 1,083.71
SBC65 800193492 42,488.00 06/07/97 05/07/12 179.18 06/07/97 90.0 13.250 544.59
SBC65 800193583 231,600.00 06/09/97 05/09/12 179.24 06/09/97 84.2 13.450 2,643.67
SBC65 800193815 44,800.00 06/20/97 05/20/12 179.61 06/20/97 80.0 13.350 507.86
SBC65 800194169 68,000.00 07/01/97 06/01/12 180.00 07/01/97 62.8 11.000 772.89
SBC65 800195638 60,898.00 06/13/97 05/13/27 359.38 06/13/97 58.5 10.900 575.35
SBC65 800195869 37,582.99 06/09/97 05/09/12 179.24 07/09/97 90.0 12.300 396.51
SBC65 800196560 18,600.00 06/16/97 05/16/12 179.47 06/16/97 90.0 12.050 223.83
SBC65 800196719 15,000.00 06/13/97 05/13/12 179.38 06/13/97 85.5 11.800 178.10
SBC65 800196867 25,000.00 06/23/97 05/23/12 179.70 06/23/97 89.2 13.250 320.43
SBC65 800197279 82,000.00 06/05/97 05/05/12 179.11 06/05/97 50.0 12.950 903.88
SBC65 800197360 34,500.00 06/12/97 05/12/12 179.34 06/12/97 84.4 13.750 401.96
SBC65 800197469 40,000.00 06/21/97 05/21/12 179.64 06/21/97 74.0 13.600 461.31
SBC65 800197980 139,500.00 06/21/97 05/21/12 179.64 06/21/97 90.0 11.800 1,413.47
SBC65 800198392 104,000.00 06/01/97 05/01/12 179.00 06/01/97 80.0 12.200 1,085.79
SBC65 800198780 22,500.00 07/01/97 06/01/12 180.00 07/01/97 80.9 11.500 262.84
SBC65 800199002 26,250.00 06/12/97 05/12/12 179.34 06/12/97 75.0 13.500 340.81
SBC65 800199051 26,250.00 06/16/97 05/16/27 359.47 06/16/97 70.0 10.150 233.28
SBC65 800199341 114,750.00 06/02/97 05/02/12 179.01 06/02/97 85.0 13.200 1,287.33
SBC65 800199481 24,794.63 05/28/97 04/28/12 178.88 05/28/97 80.0 11.150 284.22
</TABLE>
<PAGE>
Page 24 6/24/97
ALLIANCE FUNDING COMPANY
A DIVISION OF SUPERIOR BANK FSB
SALE SCHEDULE
1997-2 CLASS 1 - INITIAL POOL OF FIXED RATE MORTGAGES - SETTLEMENT 6/25/97
<TABLE>
<CAPTION>
Principal
Zip Balance at
Sale ID Account Name Address City State Code Origination
- ----------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C>
SBC65 800199614 SCOTT TIMOTHY J 22311 NE 352ND STREET YACOLT WA 98675 63,000.00
SBC65 800199887 MEEK MICHAEL 4130 AUDREY AVE BALTIMORE MD 21225 69,300.00
SBC65 800200305 DEGREAFFENRE WYONA L 4975 MRS WHITES LANE MEBANE NC 27302 25,000.00
SBC65 800200388 HARRISON BARBARA A 306 GLENVIEW PKWY SYRACUSE NY 13219 55,000.00
SBC65 800201527 ANDERSON NORMAN 815 N CHESTER ST BALTIMORE MD 21205 28,700.00
SBC65 800203168 HALPERN HOWARD P 12492 WINDTREE BOULEVARD SEMINOLE FL 33772 76,700.00
SBC65 800203358 SMITH JOSEPH E 5150 HUNT ROAD ADRIAN MI 49221 146,200.00
SBC65 800203457 BASKOFF WALTER L 631 DOLPHIN ROAD WINTER SPRINGS FL 32708 27,000.00
SBC65 800203838 SNARR RICHARD 508 LINCOLN AVENUE LEHIGH ACRES FL 33972 71,350.00
SBC65 800203952 WALLER WILLIAM T 2170 DEBUTANTE AVENUE JACKSONVILLE FL 32246 24,500.00
SBC65 800204216 ALIRKAN SABAN 466 EAST 7TH STREET BROOKLYN NY 11218 69,100.00
SBC65 800204349 DOMRONGCHAI VICHIEN 10309 BOCA SPRING DRIVE BOCA RATON FL 33428 29,766.00
SBC65 800205544 LAMBERT JAMES 1576 CARRIE WAY WEST PALM BEACH FL 33417 24,000.00
SBC65 800206419 DIETLE DONALD J 76 KONDRACKI LANE WALLINGFORD CT 06492 20,000.00
SBC65 800206633 ZAPATA JUAN H 4115 SE 72ND AVENUE PORTLAND OR 97206 28,389.00
SBC65 800208852 CORN DOMENICA 50 BILTMORE DRIVE MASTIC BEACH NY 11950 100,000.00
SBC65 800209801 SHORTELL BRIAN M 27 HUNTERS LANE ANSONIA CT 06401 25,000.00
SBC65 800209819 GELBER JOSEPH 42 CALEB BREWSTER ROAD EAST SETAUKET NY 11733 318,750.00
SBC65 800209835 OGONOWSKI JOHN S 111 NORTH STREEPER STREET BALTIMORE MD 21224 42,000.00
SBC65 800209843 MCKENZIE LEONIE 65 SALTONSTALL AVENUE NEW HAVEN CT 06513 44,500.00
SBC65 800210023 WALKER DON W 5503 17TH AVENUE NE OLYMPIA WA 98516 59,800.00
SBC65 800210528 TOWERY ROBIN KEITH 318 LAKE GROVES ROAD NE LAKE PLACID FL 33852 63,000.00
SBC65 800210544 HORNE DEBRA 637 NORTH 65TH STREET PHILADELPHIA PA 19151 40,800.00
SBC65 800210627 CRISWELL MARTIN 1704 MONTIER STREET PITTSBURGH PA 15221 42,300.00
SBC65 800210890 FINNAN LINDA A 3032 FAIRVIEW ROAD SPRING HILL FL 34609 31,500.00
SBC65 800212086 BATTLES HOWARD A 6726 SE TOLMAN COURT PORTLAND OR 97206 37,900.00
SBC65 800213084 HUDSON RONALD 150 TENNESSE AVENUE WASHINGTON DC 20011 46,000.00
SBC65 800213274 HUMLICEK TIMOTHY H. 1506 EDNA AVENUE NORTHWEST LARGO FL 34644 18,740.00
SBC65 800216228 BOURDEAU ROGER E 555 GLEN OAK STREET NORTH ST PETERSBURG FL 33703 35,650.00
SBC65 800216368 WHITFIELD PHILIP LARRY 4144 COLE ROAD VILLA RICA GA 30180 45,000.00
SBC65 800217093 MARTIN BUFFY G. 6325 TRIPP PLACE CHARLOTTE NC 28277 35,300.00
SBC65 800217606 OYER ALLAN 11172 111TH PLACE LARGO FL 33778 25,000.00
SBC65 800219230 TRENT SANDRA B 114-69 197TH STREET ST ALBANS NY 11412 117,000.00
SBC65 800222580 HONG BENJAMIN 10565 SUGAR CREST AVENUE DULUTH GA 30155 34,800.00
SBC65 800226003 BOYD THOMAS 3402 STEELE AVENUE BRISTOL PA 19007 61,500.00
------------------------------------- ----------------
163 Sale Total 9,358,046.00
<CAPTION>
Cut-off Date First Original Current Scheduled
Principal Payment Maturity Rem Date LTV Mortgage Payment
Sale ID Account Balance Date Date Term Due Ratio Rate Int & Prin
- --------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
SBC65 800199614 63,000.00 07/01/97 06/01/17 240.00 07/01/97 65.1 10.550 631.10
SBC65 800199887 69,300.00 06/27/97 05/27/12 179.84 06/27/97 90.0 11.750 699.52
SBC65 800200305 25,000.00 06/27/97 05/27/07 119.84 06/27/97 74.6 11.400 350.06
SBC65 800200388 55,000.00 06/22/97 05/22/12 179.67 06/22/97 66.6 9.400 458.46
SBC65 800201527 28,700.00 06/19/97 05/19/12 179.57 06/19/97 70.0 11.250 278.75
SBC65 800203168 76,700.00 06/27/97 05/27/17 239.84 06/27/97 69.7 11.250 804.78
SBC65 800203358 146,200.00 06/27/97 05/27/27 359.84 06/27/97 89.9 11.550 1,453.39
SBC65 800203457 27,000.00 07/01/97 06/01/12 180.00 07/01/97 66.4 10.650 300.97
SBC65 800203838 71,350.00 07/01/97 06/01/07 120.00 07/01/97 79.2 10.050 944.87
SBC65 800203952 24,500.00 06/23/97 05/23/07 119.70 06/23/97 70.0 10.900 336.10
SBC65 800204216 69,100.00 06/19/97 05/19/17 239.57 06/19/97 84.9 12.500 785.07
SBC65 800204349 29,766.00 06/28/97 05/28/07 119.87 06/28/97 84.3 12.500 435.70
SBC65 800205544 24,000.00 06/19/97 05/19/12 179.57 06/19/97 80.0 13.050 304.45
SBC65 800206419 20,000.00 06/21/97 05/21/17 239.64 06/21/97 89.8 11.750 216.74
SBC65 800206633 28,389.00 06/28/97 05/28/17 239.87 06/28/97 76.3 11.150 295.93
SBC65 800208852 100,000.00 06/20/97 05/20/27 359.61 06/20/97 80.0 12.700 1,082.80
SBC65 800209801 25,000.00 06/27/97 05/27/17 239.84 06/27/97 83.4 15.600 340.33
SBC65 800209819 318,750.00 06/16/97 05/16/27 359.47 06/16/97 85.0 12.000 3,278.70
SBC65 800209835 42,000.00 06/27/97 05/27/12 179.84 06/27/97 75.0 11.500 415.92
SBC65 800209843 44,500.00 06/21/97 05/21/12 179.64 06/21/97 68.4 11.500 440.68
SBC65 800210023 59,800.00 07/01/97 06/01/12 180.00 07/01/97 86.8 11.800 710.02
SBC65 800210528 63,000.00 07/01/97 06/01/12 180.00 07/01/97 90.0 11.300 727.97
SBC65 800210544 40,800.00 06/16/97 05/16/27 359.47 06/16/97 85.0 12.400 432.28
SBC65 800210627 42,300.00 06/20/97 05/20/12 179.61 06/20/97 90.0 11.300 488.78
SBC65 800210890 31,500.00 06/27/97 05/27/12 179.84 06/27/97 89.9 11.850 320.38
SBC65 800212086 37,900.00 06/28/97 05/28/17 239.87 06/28/97 69.4 10.300 373.31
SBC65 800213084 46,000.00 06/19/97 05/19/12 179.57 06/19/97 84.9 14.750 635.96
SBC65 800213274 18,740.00 06/20/97 05/20/12 179.61 06/20/97 84.9 12.500 230.97
SBC65 800216228 35,650.00 07/01/97 06/01/12 180.00 07/01/97 89.4 11.400 414.20
SBC65 800216368 45,000.00 07/01/97 06/01/12 180.00 07/01/97 80.7 12.500 554.63
SBC65 800217093 35,300.00 06/28/97 05/28/12 179.87 06/28/97 79.9 10.250 384.75
SBC65 800217606 25,000.00 06/27/97 05/27/17 239.84 06/27/97 85.0 11.550 267.47
SBC65 800219230 116,096.17 06/28/97 05/28/12 179.87 07/28/97 78.0 9.650 996.63
SBC65 800222580 34,800.00 07/01/97 06/01/12 180.00 07/01/97 84.9 12.750 434.60
SBC65 800226003 61,500.00 07/01/97 06/01/27 360.00 07/01/97 71.0 12.250 644.46
------------------------- ------ --------------------------
163 9,349,300.59 211.07 77.8 11.953 102,082.99
</TABLE>
<PAGE>
Page 25 6/24/97
ALLIANCE FUNDING COMPANY
A DIVISION OF SUPERIOR BANK FSB
SALE SCHEDULE
1997-2 CLASS 1 - INITIAL POOL OF FIXED RATE MORTGAGES - SETTLEMENT 6/25/97
<TABLE>
<CAPTION>
Principal
Zip Balance at
Sale ID Account Name Address City State Code Origination
- ----------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C>
SBCL17 661417212 HALL JAMES C 1891 RIDGE ROAD WEBSTER NY 14580 191,750.00
SBCL17 661419317 RICHARDSON GARY E 5 NEWTON STREET SOUTH GLENS FALLS NY 12803 160,000.00
SBCL17 661433169 SPERANZA JEAN 4665-4667 & 4669-4671 LAKE ROCHESTER NY 14612 175,000.00
SBCL17 661437715 BHAGWANSINGH NEIL 954 3RD AVE BROOKLYN NY 11215 98,000.00
SBCL17 661437806 FONG ROBERTO 13 JACKSON STREET PASSAIC NJ 07055 87,750.00
SBCL17 661442251 BACHMEIER JOHN D 1647 SUMMERFIELD STREET RIDGEWOOD NY 11385 100,000.00
SBCL17 661443903 BOARDWARK RE ALTY INC 442-444 FARMINGTON AVE HARTFORD CT 06101 205,000.00
SBCL17 661444562 OLIVER CARL 2/10 DECATUR STREET BROOKLYN NY 11216 287,000.00
SBCL17 661453589 MAZAN INC(M ABEDI-GUAR 152 TAPSCOTT STREET BROOKLYN NY 11212 285,000.00
SBCL17 661459024 PARZYGNAT ED 5833 W. IRVING PARK ROAD CHICAGO IL 60634 106,400.00
SBCL17 661459115 POWELL OWEN 1830 NOSTRAND AVENUE BROOKLYN NY 11226 165,000.00
SBCL17 661470807 ROBINSON JAMES 4955 W AUGUSTA AVE CHICAGO IL 60651 79,200.00
SBCL17 661472829 J R 20-22,24-26,25-27 GILLETT HARTFORD CT 06101 350,000.00
SBCL17 661475087 J R 334-344 FARMINGTON AVE HARTFORD CT 06101 590,000.00
SBCL17 661475095 J R 17-19 FREDERICK STREET HARTFORD CT 06101 385,000.00
SBCL17 661479741 JACKSON RUFUS 4101-03 W GLADYS CHICAGO IL 60624 130,000.00
------------------------------------- ----------------
16 Sale Total 3,395,100.00
1,089 Total with Superior Bank 58,192,812.00
<CAPTION>
Cut-off Date First Original Current Scheduled
Principal Payment Maturity Rem Date LTV Mortgage Payment
Sale ID Account Balance Date Date Term Due Ratio Rate Int & Prin
- --------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
SBCL17 661417212 191,195.06 04/01/97 03/01/22 297.00 06/01/97 65.0 11.600 1,963.12
SBCL17 661419317 159,313.08 04/01/97 03/01/12 177.00 06/01/97 63.0 12.300 1,720.73
SBCL17 661433169 175,000.00 06/01/97 05/01/12 179.00 06/01/97 68.6 11.600 2,055.47
SBCL17 661437715 98,000.00 06/01/97 05/01/12 179.00 06/01/97 70.0 12.300 1,195.15
SBCL17 661437806 87,750.00 06/01/97 05/01/27 359.00 06/01/97 65.0 11.850 892.49
SBCL17 661442251 99,942.88 05/01/97 04/01/22 298.00 06/01/97 64.5 11.600 1,023.79
SBCL17 661443903 204,890.69 05/01/97 04/01/12 178.00 06/01/97 56.9 11.990 2,157.60
SBCL17 661444562 285,743.56 05/01/97 04/01/12 178.00 07/01/97 70.0 11.100 3,280.08
SBCL17 661453589 284,401.91 05/01/97 04/01/12 178.00 06/01/97 60.0 11.500 3,329.34
SBCL17 661459024 106,199.27 05/01/97 04/01/17 238.00 07/01/97 70.0 12.550 1,212.61
SBCL17 661459115 165,000.00 06/01/97 05/01/12 179.00 06/01/97 50.7 13.700 2,164.22
SBCL17 661470807 79,200.00 06/01/97 05/01/12 179.00 06/01/97 66.0 11.100 905.16
SBCL17 661472829 350,000.00 06/01/97 05/01/12 179.00 06/01/97 43.9 11.600 4,110.94
SBCL17 661475087 590,000.00 06/01/97 05/01/12 179.00 06/01/97 63.9 11.600 6,929.88
SBCL17 661475095 385,000.00 06/01/97 05/01/12 179.00 06/01/97 63.5 11.600 4,522.04
SBCL17 661479741 130,000.00 07/01/97 06/01/12 180.00 07/01/97 65.0 11.100 1,485.75
------------------------- ------ --------------------------
16 3,391,636.45 195.38 61.7 11.734 38,948.37
1,089 57,737,897.43 209.00 76.2 11.954 638,185.43
</TABLE>
<PAGE>
Page 26 6/24/97
ALLIANCE FUNDING COMPANY
A DIVISION OF SUPERIOR BANK FSB
SALE SCHEDULE
1997-2 CLASS 1 - INITIAL POOL OF FIXED RATE MORTGAGES - SETTLEMENT 6/25/97
<TABLE>
<CAPTION>
Principal
Zip Balance at
Sale ID Account Name Address City State Code Origination
- ----------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C>
BS29 661342337 CASTILLO CHARLENE F 1532 N PLAZA DE LIRIOS TUCSON AZ 85745 66,722.00
BS29 661375998 SMALL SAMUEL C 351 SHELLEY AVE SHELLEY ID 83274 56,383.00
BS29 661421123 ROGERS MICHAEL E 978 SOUTH 1635 WEST OREM UT 84058 26,100.00
BS29 661422121 GASTONI ALFRED M 3879,3883,3885,3887 DRY LA AUBURN CA 95602 43,840.00
BS29 661422246 KIM CHUNG S 3221 REDGLEN COURT SAN JOSE CA 95135 77,500.00
BS29 661422519 BEY ARTHUR L 3414 E. MARDAN DRIVE LONG GROVE IL 60047 113,500.00
BS29 661422576 WINGLER DAWN M 41946 ADELBERT STREET ELYRIA OH 44035 39,900.00
BS29 661423962 PITNEY MICHAEL J 32246 EAST RUTHERFORD STRE CARNATION WA 98014 16,900.00
BS29 661427294 WRIGHT JASON E 1309 OAK KNOLL COURT NEWBERG OR 97132 37,000.00
BS29 661428862 BERRY ANDREA J 7425 LANGLEY CHICAGO IL 60619 64,400.00
BS29 661429399 WOOD CHAD K 224 NORTH 100 EAST CIRCLEVILLE UT 84723 64,000.00
BS29 661429613 TIPTON JOHN W 11415 SE 88TH PLACE NEWCASTLE WA 98056 18,100.00
BS29 661429704 HUGHES HOWARD D 14504 BLACKSTONE AVE. DOLTON IL 60419 18,200.00
BS29 661430157 MARTINEZ BARBARA J 510 MOFFAT STREET PUEBLO CO 81001 33,000.00
BS29 661431668 JOHNSON GARY LOWELL 828 SOUTH STEWART DRIVE KANAB UT 84741 37,769.00
BS29 661436246 MORROW ALAN L 9730 132ND AVENUE NORTHEAS KIRKLAND WA 98033 48,400.00
BS29 661436345 LEDDY PAUL A 2832 WEST 43RD AVENUE DENVER CO 80211 30,000.00
BS29 661436758 MERRILL STEPHEN 219 VALLEY VIEW DRIVE GARDEN CITY UT 84028 62,000.00
BS29 661436832 ZELLER MARVIN LEE 1322 EAST 68TH STREET TACOMA WA 98404 56,800.00
BS29 661436980 AMRO YOUSIF M 2 S. 169 HUNTINGTON PLACE GLEN ELLYN IL 60137 162,300.00
BS29 661437368 RICHBOW DAVID H JR 12085 LANSDOWNE DETROIT MI 48224 49,200.00
BS29 661437533 PECCIE DAVID W 2733 NW CHAMPION CIRCLE BEND OR 97701 46,200.00
BS29 661437608 WITHROW RICHARD G 103 MESA VIEW AVENUE GRAND JUNCTION CO 81503 57,000.00
BS29 661438374 HAMILTON MOREY A 3022 EDENS AVENUE BELLINGHAM WA 98225 25,600.00
BS29 661438564 ALEY JONATHON J 338 DEER TRAIL AVENUE CARBONDALE CO 81623 60,500.00
BS29 661438945 CRUZ MANUEL 321 NORFELD BLVD ELMONT NY 11003 31,700.00
BS29 661439364 KERKOW RONALD G 4401 78TH AVENUE NORTH BROOKLYN PARK MN 55443 31,500.00
BS29 661439497 ADAMS SAM A 10028 186TH COURT NE REDMOND WA 98052 62,500.00
BS29 661440487 PERRY KEVIN R 12275 PARTRIDGE LANE PEYTON CO 80831 24,500.00
BS29 661440610 SYKES JERRY L 13796 NORTHEAST 76TH PLACE REDMOND WA 98052 25,000.00
BS29 661440875 WELCH KYLE W 20090 EAST WAGONTRAIL DRIV AURORA CO 80015 31,972.00
BS29 661441030 HANSON JAMES J 382 CAMPUS DRIVE ELGIN IL 60120 16,500.00
BS29 661441188 PAPPAS PETER 3143 S. NORMAL AVE CHICAGO IL 60616 93,600.00
BS29 661441428 AMATO KELLY ANNE 8817 WEST 52ND AVENUE ARVADA CO 80002 14,600.00
BS29 661441477 STIEBER LEE M 1670 OAKLAND STREET AURORA CO 80010 23,850.00
BS29 661441485 PEAK VICKI LEE 6484 S PRESCOTT STREET LITTLETON CO 80120 22,665.00
BS29 661441816 LATHAM ROBERT P 345 LAKESIDE DRIVE GRAND LAKE CO 80447 68,449.00
BS29 661441873 MCRAE BRIAN P 303 PECONIC STREET RONKONKOMA NY 11779 23,400.00
BS29 661441899 O'DONNELL BRIAN 8791 15TH AVENUE BROOKLYN NY 11228 26,400.00
BS29 661441931 RYBA EMIL J JR 15344 AUBRIETA ORLAND PARK IL 60462 20,000.00
BS29 661442475 RIGGS JEFFREY J 1806 WHITNEY STREET IDAHO FALLS ID 83402 17,611.00
BS29 661442624 ROBERTSON KIM L 20731 BROADACRES BOULEVARD CLINTON TOWNSHIP MI 48035 20,000.00
BS29 661443606 WILLIAMS JOHN W 8054 WISEMAN ROAD LAMBERTVILLE MI 48144 82,400.00
BS29 661443978 SABAN DAN 13623 EAST MORGAN DRIVE GILBERT AZ 85234 130,500.00
BS29 661444281 HEER PAUL R 1807 REICHERT AVENUE SAUK VILLAGE IL 60411 27,900.00
BS29 661444497 BESSLER TERRY A W157 N9780 GLENWOOD DRIVE GERMANTOWN WI 53022 50,000.00
BS29 661444687 PARRY CHAD J 4861 SOUTH JOAQUINE STREET SALT LAKE CITY UT 84118 45,431.00
BS29 661445601 ANDREWS MARY JANE 1196 TWILIGHT DRIVE CERES CA 95307 21,300.00
BS29 661445668 HAINER BARBARA A 6173 SOUTH MAGNOLIA COURT ENGLEWOOD CO 80111 65,052.00
BS29 661446641 ERTMANN LYNN R 118 EAST 7460 SOUTH MIDVALE UT 84047 25,000.00
BS29 661446682 GRONDIN RONALD F 13068 SOUTH 1830 WEST RIVERTON UT 84065 40,000.00
BS29 661446807 MELHORN RICHARD X 13594 HIDDEN CREEK DRIVE N ANDOVER MN 55304 28,600.00
BS29 661447136 LUTZ LEON G 2325 N. NEVA AVENUE #110B CHICAGO IL 60635 25,000.00
BS29 661447615 BORING DONALD E 7236 BRAUN COURT ARVADA CO 80005 51,272.00
BS29 661447862 SALISBURY CARL LYNN 1850 EAST BROOKHILL DRIVE SALT LAKE CITY UT 84121 22,000.00
BS29 661448050 HILL DEMONT E JR 906 NORTH 1020 EAST PLEASANT GROVE UT 84062 68,750.00
BS29 661448100 INDORF JAY L 7525 140TH PLACE NE REDMOND WA 98052 23,600.00
BS29 661448217 PFEFFER GEORGE B 1274-1276 SOUTH LOGAN STRE DENVER CO 80210 21,000.00
BS29 661448233 CONKLIN CINDY L 11356 NORTH ALPINE HIGHWAY HIGHLAND UT 84003 53,000.00
BS29 661448738 THORNGREN MICHAEL G 4134 WEST 4835 SOUTH SALT LAKE CITY UT 84118 15,600.00
BS29 661448803 SUMNER WILLIAM ARTHUR 4121 SOUTH BLUE JAY STREET WEST VALLEY CITY UT 84120 36,052.00
BS29 661448837 BURBANO JOHNNY 43 WINNECOMAC CIRCLE KINGS PARK NY 11754 59,800.00
BS29 661449132 HUNT MURRY 3719 W. FERDINAND CHICAGO IL 60624 30,700.00
BS29 661449264 HEIGL ELIZABETH J 4045 N. LARAMIE AVE. CHICAGO IL 60641 33,000.00
<CAPTION>
Cut-off Date First Original Current Scheduled
Principal Payment Maturity Rem Date LTV Mortgage Payment
Sale ID Account Balance Date Date Term Due Ratio Rate Int & Prin
- -------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
BS29 661342337 66,722.00 12/04/96 11/04/11 173.13 05/04/97 89.9 12.600 717.28
BS29 661375998 56,152.25 02/01/97 01/01/12 175.00 06/01/97 81.1 12.250 685.79
BS29 661421123 26,043.28 05/01/97 04/01/12 178.00 07/01/97 87.6 11.750 263.46
BS29 661422121 43,840.00 05/01/97 04/01/12 178.00 06/01/97 81.2 12.800 478.11
BS29 661422246 77,500.00 05/01/97 04/01/12 178.00 06/01/97 85.9 12.750 842.19
BS29 661422519 111,403.87 04/28/97 03/28/12 177.86 06/28/97 79.7 11.500 1,123.98
BS29 661422576 39,499.69 04/26/97 03/26/17 237.80 06/26/97 70.0 10.750 405.08
BS29 661423962 16,887.77 05/01/97 04/01/12 178.00 06/01/97 84.9 12.350 206.65
BS29 661427294 37,000.00 04/01/97 03/01/12 177.00 06/01/97 80.0 13.950 491.50
BS29 661428862 64,387.59 04/24/97 03/24/12 177.73 05/24/97 80.0 13.750 750.33
BS29 661429399 64,000.00 05/01/97 04/01/12 178.00 06/01/97 80.0 11.700 643.57
BS29 661429613 18,100.00 05/01/97 04/01/12 178.00 06/01/97 89.9 11.750 182.70
BS29 661429704 18,148.55 05/01/97 04/01/12 178.00 06/01/97 89.9 11.800 216.09
BS29 661430157 33,000.00 05/01/97 04/01/27 358.00 06/01/97 66.0 11.500 326.80
BS29 661431668 37,769.00 05/01/97 04/01/12 178.00 06/01/97 74.9 12.000 453.29
BS29 661436246 48,400.00 05/01/97 04/01/12 178.00 06/01/97 79.9 13.950 642.94
BS29 661436345 30,000.00 05/01/97 04/01/17 238.00 06/01/97 78.1 13.500 362.21
BS29 661436758 61,722.56 05/01/97 04/01/12 178.00 07/01/97 50.8 9.150 505.57
BS29 661436832 56,498.36 05/01/97 04/01/27 358.00 07/01/97 80.0 10.250 508.99
BS29 661436980 161,992.00 05/01/97 04/01/17 238.00 06/01/97 84.9 10.850 1,658.71
BS29 661437368 49,200.00 04/25/97 03/25/12 177.76 05/25/97 84.9 10.050 433.58
BS29 661437533 46,200.00 05/01/97 04/01/12 178.00 06/01/97 79.9 13.950 545.58
BS29 661437608 57,000.00 05/01/97 04/01/12 178.00 06/01/97 83.2 11.000 542.82
BS29 661438374 25,563.51 05/01/97 04/01/12 178.00 06/01/97 88.2 11.750 258.41
BS29 661438564 60,500.00 05/01/97 04/01/17 238.00 07/01/97 84.6 12.500 687.37
BS29 661438945 31,393.33 04/27/97 03/27/07 117.83 06/27/97 62.9 10.100 420.68
BS29 661439364 31,500.00 05/02/97 04/02/12 178.03 06/02/97 84.2 13.000 348.45
BS29 661439497 62,500.00 05/01/97 04/01/12 178.00 06/01/97 78.1 13.990 740.05
BS29 661440487 23,976.33 05/01/97 04/01/12 178.00 08/01/97 84.8 10.100 264.78
BS29 661440610 24,998.60 05/01/97 04/01/12 178.00 06/01/97 52.9 12.500 266.81
BS29 661440875 31,972.00 05/01/97 04/01/12 178.00 06/01/97 84.8 12.500 394.06
BS29 661441030 16,471.78 04/28/97 03/28/12 177.86 05/28/97 76.8 12.500 203.37
BS29 661441188 93,229.58 04/24/97 03/24/17 237.73 06/24/97 80.0 10.650 943.93
BS29 661441428 14,599.27 05/01/97 04/01/17 238.00 06/01/97 69.9 11.100 151.69
BS29 661441477 23,798.41 05/01/97 04/01/17 238.00 06/01/97 89.9 11.550 255.17
BS29 661441485 22,665.00 05/01/97 04/01/12 178.00 06/01/97 80.0 13.990 301.69
BS29 661441816 68,132.77 05/01/97 04/01/12 178.00 07/01/97 84.7 12.750 743.83
BS29 661441873 23,286.10 05/01/97 04/01/07 118.00 06/01/97 86.7 11.750 332.35
BS29 661441899 26,318.42 04/28/97 03/28/07 117.86 05/28/97 86.3 11.350 368.91
BS29 661441931 19,938.02 05/03/97 04/03/12 178.06 06/03/97 13.8 9.850 213.09
BS29 661442475 17,597.30 05/01/97 04/01/12 178.00 06/01/97 79.7 13.500 228.65
BS29 661442624 19,849.00 05/01/97 04/01/12 178.00 07/01/97 89.4 11.350 231.73
BS29 661443606 82,400.00 05/01/97 04/01/12 178.00 06/01/97 80.0 12.850 901.86
BS29 661443978 129,976.52 05/01/97 04/01/27 358.00 07/01/97 89.3 10.850 1,228.01
BS29 661444281 27,727.99 04/27/97 03/27/17 237.83 06/27/97 84.4 10.150 272.02
BS29 661444497 49,844.25 04/24/97 03/24/17 237.73 06/24/97 89.6 11.800 543.59
BS29 661444687 45,282.14 04/21/97 03/21/12 177.63 06/21/97 79.7 15.350 646.77
BS29 661445601 21,292.96 05/01/97 04/01/12 178.00 08/01/97 89.9 11.350 208.50
BS29 661445668 65,052.00 05/01/97 04/01/12 178.00 06/01/97 84.9 12.750 812.39
BS29 661446641 25,000.00 05/01/97 04/01/12 178.00 06/01/97 87.1 11.750 252.35
BS29 661446682 38,613.79 05/01/97 04/01/12 178.00 07/01/97 83.5 10.100 353.99
BS29 661446807 28,600.00 05/01/97 04/01/17 238.00 06/01/97 89.9 11.800 310.93
BS29 661447136 24,737.20 04/28/97 03/28/12 177.86 06/28/97 56.6 11.500 292.05
BS29 661447615 51,169.00 05/01/97 04/01/12 178.00 06/01/97 84.9 12.750 640.30
BS29 661447862 21,997.60 04/18/97 03/18/12 177.53 06/18/97 87.5 12.750 274.74
BS29 661448050 68,654.39 06/01/97 05/01/12 179.00 07/01/97 73.1 11.250 667.74
BS29 661448100 23,600.00 06/01/97 05/01/12 179.00 07/01/97 84.9 12.750 256.46
BS29 661448217 21,000.00 06/01/97 05/01/12 179.00 06/01/97 84.3 12.750 262.26
BS29 661448233 52,884.86 05/01/97 04/01/12 178.00 07/01/97 80.1 12.200 553.34
BS29 661448738 15,600.00 06/01/97 05/01/12 179.00 06/01/97 48.3 11.250 179.77
BS29 661448803 36,012.22 04/14/97 03/14/12 177.40 06/14/97 84.9 13.700 418.62
BS29 661448837 59,709.72 05/01/97 04/01/17 238.00 06/01/97 85.2 9.500 557.41
BS29 661449132 30,621.12 05/07/97 04/07/12 178.19 06/07/97 59.0 9.800 326.16
BS29 661449264 32,964.10 05/01/97 04/01/12 178.00 06/01/97 88.6 11.800 334.37
</TABLE>
<PAGE>
Page 27 6/24/97
ALLIANCE FUNDING COMPANY
A DIVISION OF SUPERIOR BANK FSB
SALE SCHEDULE
1997-2 CLASS 1 - INITIAL POOL OF FIXED RATE MORTGAGES - SETTLEMENT 6/25/97
<TABLE>
<CAPTION>
Principal
Zip Balance at
Sale ID Account Name Address City State Code Origination
- ----------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C>
BS29 661449769 ANDRUS CHRISTOPHE A 1507 PEMBERTON WAY EL DORADO HILLS CA 95762 30,000.00
BS29 661450023 LEASIOLAGI LUI L 5601 136TH STREET EAST PUYALLUP WA 98373 36,593.00
BS29 661450171 WALWORTH CHARLES A 18200 MERIDIAN ROAD ELBERT CO 80106 52,000.00
BS29 661450296 RAWLINGS JEFFREY M 1287 W BLOOMINGTON DR SOUT ST GEORGE UT 84790 98,603.00
BS29 661450361 RIVERA GENEROSO JR 9990 HERITAGE PARK TRAIL S PEYTON CO 80831 15,300.00
BS29 661450684 WYMAN LISA DEE 208 4TH AVENUE NORTH ALGONA WA 98001 11,000.00
BS29 661450791 ANDERSEN JAMES E 1767 WEST 270 SOUTH PROVO UT 84601 45,200.00
BS29 661451005 CHASE LANDON 3595 OLD COUNTRY COURT ROSEVILLE CA 95661 48,000.00
BS29 661451328 MATTHEWS BARRY A 4756 LAKE PLACE LAS VEGAS NV 89117 24,000.00
BS29 661451369 LOUNNIVONGSA PAUL 3250 WEST 93RD AVENUE WESTMINSTER CO 80030 30,000.00
BS29 661451732 OLCHOWKA FRANK S 8708 S. 83RD COURT HICKORY HILLS IL 60457 22,000.00
BS29 661451997 REYNOLDS VERNON L 3519 TUSSELL STREET NAPERVILLE IL 60564 90,000.00
BS29 661452169 SUNDBY DAVID E 845 WHITE OAKS DRIVE DIXON IL 61021 19,300.00
BS29 661452664 KYLE CHERI MARIAE 726 CUMBERLAND DRIVE JEFFERSON CO 80456 58,000.00
BS29 661452714 DIEMER J JOSEPH 14635 SOUTH 31ST WAY PHOENIX AZ 85048 50,000.00
BS29 661452839 PRICE MILISSA 2705 SAVAGE ROAD ELIZABETH CO 80107 40,000.00
BS29 661452854 MARQUEZ JANICE L 780 JOLIET STREET AURORA CO 80010 20,000.00
BS29 661453472 DUDLEY MARY I 106 EAST WOOD STREET YALE MI 48097 26,500.00
BS29 661453621 MACH KATHERINE E 14608 SE OATFIELD ROAD MILWAUKIE OR 97267 49,300.00
BS29 661453860 LATU SIONE LAUFOLI 5587 SOUTH 4220 WEST KEARNS UT 84118 24,300.00
BS29 661454009 SALCIDO ALBERT J 2732 W BILBY ROAD TUCSON AZ 85746 13,800.00
BS29 661454116 CORRIE CHRISTOPHE B 433 CHESTNUT WAY BROOMFIELD CO 80020 44,000.00
BS29 661454256 SMITH BENJAMIN 11606 S BISHOP STREET CHICAGO IL 60643 73,900.00
BS29 661454322 BARBER LILLIE 8005 SOUTH MICHIGAN AVENUE CHICAGO IL 60619 73,400.00
BS29 661454470 BLACKARD SERINA 1260 HILLSIDE STREET AURORA CO 80010 15,500.00
BS29 661454512 CARTER RUSSELL 84 WEST STAUFFER LANE MURRAY UT 84107 37,000.00
BS29 661454520 WALKER JON A 11716 HAGLAND AVENUE NE ALBUQUERQUE NM 87112 21,000.00
BS29 661454827 STROH BEVERLY G 9461 WEST BALTIC COURT LAKEWOOD CO 80227 35,000.00
BS29 661454876 YURKO JOSEPH R 5360 VALLEJO STREET DENVER CO 80221 26,342.00
BS29 661455659 WHITED COY H 1101 CAMBRIDGE AVENUE COLORADO SPRINGS CO 80906 76,000.00
BS29 661455824 SPURR ERNEST W 1137 EAST PLATTE AVENUE COLORADO SPRINGS CO 80903 51,000.00
BS29 661456335 BENTLEY WILLIAM W 10153 SOUTH GOLDEN SANDS P SOUTH JORDAN UT 84095 27,800.00
BS29 661456939 KREUTER JAMES R 13401 W. NORTH LANE NEW BERLIN WI 53131 25,500.00
BS29 661457143 HALL TERRY D 18205 BRIDGEPORT ROAD DALLAS OR 97338 20,700.00
BS29 661458216 HOPKINS WILLIAM L 390 EAST 350 SOUTH LEHI UT 84043 16,444.00
BS29 661458372 PARKIN JEFFRY M 990 FLINT WAY BROOMFIELD CO 80020 24,000.00
BS29 661458497 CROSBY TIMOTHY G 10448 NELSON STREET BROOMFIELD CO 80021 16,158.00
BS29 661458828 NAWROCKI JOSEPH E 6817 11TH AVENUE S. RICHFIELD MN 55423 33,000.00
BS29 661459164 TOLVO SR JAMES H 10545 CARMELA LANE NORTHGLENN CO 80234 56,900.00
BS29 661459958 KELLY JOHNSON 4757 DOWN WEST RIDE ELIZABETH CO 80107 62,225.00
BS29 661460162 JACKSON NICK L 2969 SOUTH 7930 WEST MAGNA UT 84044 26,632.00
BS29 661460832 PEIRCE JEFFERY C 5574 SOUTH DANUBE COURT SALT LAKE CITY UT 84118 25,700.00
BS29 661460923 PERKINS CAROL G 11277 PLAINVIEW ROAD GOLDEN CO 80403 100,000.00
------------------------------------- ----------------
107 Sale Total 4,513,615.00
<CAPTION>
Cut-off Date First Original Current Scheduled
Principal Payment Maturity Rem Date LTV Mortgage Payment
Sale ID Account Balance Date Date Term Due Ratio Rate Int & Prin
- --------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
BS29 661449769 29,884.70 05/01/97 04/01/12 178.00 06/01/97 89.7 12.600 322.51
BS29 661450023 36,479.24 05/01/97 04/01/17 238.00 07/01/97 89.8 11.500 390.24
BS29 661450171 52,000.00 06/01/97 05/01/17 239.00 06/01/97 82.7 12.400 587.13
BS29 661450296 98,603.00 05/01/97 04/01/12 178.00 06/01/97 74.8 12.750 1,071.51
BS29 661450361 15,288.27 06/01/97 05/01/17 239.00 07/01/97 84.9 12.350 172.21
BS29 661450684 11,000.00 05/01/97 04/01/12 178.00 06/01/97 80.0 13.990 130.25
BS29 661450791 45,200.00 05/01/97 04/11/12 178.00 06/11/97 87.9 11.350 442.45
BS29 661451005 48,000.00 05/01/97 04/01/12 178.00 06/01/97 80.0 13.050 532.85
BS29 661451328 24,000.00 06/01/97 05/01/12 179.00 06/01/97 90.0 11.800 284.96
BS29 661451369 29,994.57 05/01/97 04/01/12 178.00 06/01/97 61.7 11.000 285.70
BS29 661451732 21,934.21 05/01/97 04/01/17 238.00 07/01/97 81.8 10.550 220.38
BS29 661451997 90,000.00 05/01/97 04/01/17 238.00 06/01/97 75.2 11.000 928.97
BS29 661452169 19,286.83 05/01/97 04/01/12 178.00 06/01/97 84.9 12.500 237.88
BS29 661452664 58,000.00 06/01/97 05/01/27 359.00 06/01/97 52.2 10.400 526.22
BS29 661452714 49,930.89 05/01/97 04/01/12 178.00 06/01/97 82.6 10.500 457.37
BS29 661452839 39,792.01 05/01/97 04/01/12 178.00 07/01/97 67.5 11.250 460.94
BS29 661452854 20,000.00 06/01/97 05/01/12 179.00 06/01/97 79.9 11.250 230.47
BS29 661453472 26,500.00 05/01/97 04/01/12 178.00 06/01/97 58.8 12.000 272.58
BS29 661453621 49,300.00 05/01/97 04/01/12 178.00 06/01/97 84.9 12.750 535.74
BS29 661453860 24,300.00 06/01/97 05/01/12 179.00 06/01/97 84.6 12.350 256.52
BS29 661454009 13,800.00 05/01/97 04/01/12 178.00 06/01/97 84.9 12.750 172.34
BS29 661454116 44,000.00 05/01/97 04/01/17 238.00 06/01/97 76.5 11.250 461.67
BS29 661454256 73,790.02 05/01/97 04/01/17 238.00 06/01/97 84.9 9.650 696.10
BS29 661454322 72,558.17 05/07/97 04/07/17 238.19 07/07/97 69.9 10.750 745.18
BS29 661454470 15,409.76 05/01/97 04/01/12 178.00 07/01/97 82.9 11.250 178.61
BS29 661454512 36,654.72 05/01/97 04/01/12 178.00 07/01/97 89.6 11.800 374.90
BS29 661454520 20,728.75 05/01/97 04/01/17 238.00 08/01/97 82.2 10.150 204.75
BS29 661454827 34,769.80 06/01/97 05/01/17 239.00 07/01/97 64.6 11.350 369.64
BS29 661454876 26,243.22 05/01/97 04/01/12 178.00 07/01/97 87.4 11.800 266.91
BS29 661455659 76,000.00 06/01/97 05/01/27 359.00 06/01/97 89.9 10.600 700.89
BS29 661455824 51,000.00 05/01/97 04/01/17 238.00 06/01/97 79.7 13.000 597.50
BS29 661456335 27,785.75 04/25/97 03/25/12 177.76 05/25/97 89.9 11.950 332.75
BS29 661456939 25,388.61 05/01/97 04/01/12 178.00 07/01/97 53.2 11.750 301.95
BS29 661457143 20,700.00 06/01/97 05/01/12 179.00 06/01/97 70.0 11.150 199.48
BS29 661458216 16,426.08 04/24/97 03/24/12 177.73 06/24/97 84.8 13.700 215.69
BS29 661458372 24,000.00 05/01/97 04/01/12 178.00 06/01/97 88.6 11.400 235.84
BS29 661458497 16,158.00 06/01/97 05/01/12 179.00 06/01/97 86.8 11.800 163.72
BS29 661458828 33,000.00 05/01/97 04/01/12 178.00 06/01/97 81.3 11.550 328.06
BS29 661459164 56,897.83 06/01/97 05/01/12 179.00 07/01/97 84.8 12.750 618.33
BS29 661459958 62,225.00 06/01/97 05/01/17 239.00 06/01/97 85.7 11.400 659.30
BS29 661460162 26,624.42 05/04/97 04/04/12 178.09 06/04/97 89.8 12.350 325.65
BS29 661460832 25,682.93 04/25/97 03/25/12 177.76 05/25/97 77.8 11.500 300.22
BS29 661460923 99,826.01 05/01/97 04/01/12 178.00 07/01/97 78.9 12.000 1,028.61
------------------------- ------ ---------------------------
107 4,501,658.99 206.55 80.0 11.778 48,460.84
</TABLE>
<PAGE>
Page 28 6/24/97
ALLIANCE FUNDING COMPANY
A DIVISION OF SUPERIOR BANK FSB
SALE SCHEDULE
1997-2 CLASS 1 - INITIAL POOL OF FIXED RATE MORTGAGES - SETTLEMENT 6/25/97
<TABLE>
<CAPTION>
Principal
Zip Balance at
Sale ID Account Name Address City State Code Origination
- ----------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C>
BSC31P 680002953 CAMPANARO KEVIN M 138 DORN RD LAGRANGEVILLE NY 12540 91,125.00
BSC31P 680021078 THOMAS LARRY LEE 320 ADDISON DRIVE GLEN BURNIE MD 21060 36,900.00
BSC31P 680027349 BILLIGMEIER WALTER 2237 EAST 15TH STREET BROOKLYN NY 11229 35,000.00
BSC31P 680029063 PADILLA JUNIPER 130 BARTHOLDI AVE JERSEY CITY NJ 07305 75,000.00
BSC31P 680030863 LESCROART KEVIN 2117 GLASCO TURNPIKE WOODSTOCK NY 12498 119,000.00
BSC31P 680035300 NORRIS WENDY 810-814 SURF AVENUE STRATFORD CT 06497 114,750.00
BSC31P 680036779 THOMPSON PHILLIP M 1109 CRAMER CT BALDWIN NY 11510 108,000.00
BSC31P 680040474 MOTT T. ALLEN 6025 6027 STANTON AVENUE BALTIMORE MD 21210 26,200.00
BSC31P 680042322 LOSCHIAVO JAMES 21 BELMONT AVE SHELTON CT 06484 31,900.00
BSC31P 680043692 HARRIS MARY B 2510 22ND STREET S SAINT PETERSBURG FL 33711 21,300.00
BSC31P 680046554 TROUT GREGORY 1007 ACACIA AVE LEHIGH ACRES FL 33936 11,500.00
BSC31P 680053014 CANFIELD JAMES W 22 FRANCE ST NORWALK CT 06851 30,000.00
BSC31P 680063419 TALBIRD SARAH 832 GRANT AVE SCHENECTADY NY 12307 16,800.00
BSC31P 680064565 HINSON WILLIAM M 2208 LAKE AVENUE FAYETTEVILLE NC 28301 32,200.00
BSC31P 680068459 NOORMETS ELLA 94 MIDDLE ISLAND BLVD MIDDLE ISLAND NY 11953 60,000.00
BSC31P 680070570 VARUGHESE DANIEL 30 LINCOLN AVE OSSINING NY 10562 47,100.00
BSC31P 680071453 JORDAN JAMES W 3015 W 18TH STREET JACKSONVILLE FL 32254 30,000.00
BSC31P 680072147 SEPULVEDA CHARLIE 42 FULTON FAIRVIEW NJ 07022 157,000.00
BSC31P 680073673 BELL ROBERT R 511 SOUTHPORT STREET RONKONKOMA NY 11779 21,000.00
BSC31P 680074549 LANGLOIS MATTHEW 3027 N ADAMS ST TAMPA FL 33611 35,700.00
BSC31P 680077104 STRAVATO JOHN M 1299 CONNETQUOT AVENUE CENTRAL ISLIP NY 11772 74,200.00
BSC31P 680078532 RYDER ERIC L 107 HAZLE STREET DELANO PA 18220 25,600.00
BSC31P 680085628 GROFF KENNETH W RD #1 BOX 225H CATAWISSA PA 17820 21,000.00
BSC31P 680085933 ESTEVEZ DARIO 111 -13 39TH AVENUE CORONA NY 11368 41,950.00
BSC31P 680086436 CASAZZA LUCILLE 25 MCCLEAN AVE STATEN ISLAND NY 10305 125,000.00
BSC31P 680088069 LEECH SUE ANNE 3046 EGRET TERRACE SAFETY HARBOR FL 34695 15,000.00
BSC31P 680089893 LANDAYAN NERISSA A 109 HOMESTEAD PL BOGOTA NJ 07603 48,200.00
BSC31P 680090214 FITZPATRICK KEVIN 50 VERPLANCK AVE HOPEWELL JUNCTION NY 12533 36,300.00
BSC31P 680091089 TOMASSO LAWRENCE J 6 LADUE RD EAST FISHKILL NY 12533 19,100.00
BSC31P 680091790 GOMEZ JOSEPH D 1515 BATES STREET BRANDON FL 33510 43,000.00
BSC31P 680093499 CHAMBERS MARVLET 960 E 55TH ST BROOKLYN NY 11234 66,250.00
BSC31P 680095437 LIVINGSTONE SYLVESTER 1083 TULSA ST UNIONDALE NY 11553 86,700.00
BSC31P 680095791 HOOVER LAWRENCE D RR 1 BOX 198 ROARING SPRING PA 16673 75,240.00
BSC31P 680095973 AIKEN MARY 5950 NORTH 3RD STREET PHILADELPHIA PA 19120 42,000.00
BSC31P 680098852 UMBERTO PATSY 116 MARSHALL AVE STATEN ISLAND NY 10314 97,900.00
BSC31P 680099561 CASTRO JULIO C 3306 JOHN F KENNEDY BLVD JERSEY CITY NJ 07307 83,300.00
BSC31P 680100997 ST AMANT LOUIS T 14 PINNACLE MOUNTAIN RD SIMSBURY CT 06070 100,000.00
BSC31P 680103389 SKINNER DOLORES G 5503 TINKERS CREEK PLACE CLINTON MD 20735 82,000.00
BSC31P 680103512 AHAMED RAZIB 1313 E 59TH ST BROOKLYN NY 11234 92,000.00
BSC31P 680104957 ANDRADA CELEDONIA T 3110 LEWIS PL FALLS CHURCH VA 22042 42,450.00
BSC31P 680105764 BROGLIA GEORGE D 486 GUILFORD RD NEW PALTZ NY 12561 25,900.00
BSC31P 680105855 WALSH JERROLD C 2811 RAWLE ST PHILADELPHIA PA 19149 51,100.00
BSC31P 680106085 DIXON IVETT L 245-22 149TH ROAD ROSEDALE NY 11422 182,750.00
BSC31P 680106135 SUAREZ WILLY MARK 3037 FERNCREST DR YORKTOWN HEIGHTS NY 10598 31,000.00
BSC31P 680106838 MCDONALD ELIZABETH A 85 N STOUGHTON ST BERGENFIELD NJ 07621 63,000.00
BSC31P 680107877 MARCKSTEIN JAMES D 38 COUNTRY RD PERKASIE PA 18944 14,825.00
BSC31P 680108982 TOLLIVER CYNTHIA 72 MAIN STREET WYANDANCH NY 11798 92,800.00
BSC31P 680109378 BERGHEIM FRED L 228 N SECOND STREET OAKLAND MD 21550 123,250.00
BSC31P 680109766 PETKAUSKOS PETER J JR 528 NECK RD LANCASTER MA 01523 22,800.00
BSC31P 680110483 HENDERSON FRED W JR 500 MARION COURT HIGH POINT NC 27262 82,500.00
BSC31P 680110574 KLEIN HARRY 677 E 2ND ST BROOKLYN NY 11218 65,000.00
BSC31P 680113529 SCAPPATICCI JOHN 249 SOUNDVIEW RD HUNTINGTON NY 11743 40,000.00
BSC31P 680113578 IORIO ANTHONY 283 HUDSON PL FAIRVIEW NJ 07022 170,000.00
BSC31P 680113594 SCHIEHSL CAROL H 139 FIFTY ACRES ROAD SOUTH SAINT JAMES NY 11780 200,000.00
BSC31P 680113966 HENDRICKS DARLENE 88 COLGATE AVE YONKERS NY 10703 39,000.00
BSC31P 680114113 STELLABUTO JOHN R RR 3 BOX 20 PUNXSUTAWNEY PA 15767 54,239.00
BSC31P 680114238 YEARWOOD ROBERT C 917 BROOKE RD CAPITOL HEIGHTS MD 20743 96,000.00
BSC31P 680115748 LOWE JERRY 1444 STOKES AVENUE ATLANTA GA 30310 59,500.00
BSC31P 680116282 LEWIS ODETTE B 13100 SHERIDAN DRIVE HUDSON FL 34667 55,675.00
BSC31P 680116720 SCHUSTER ALLAN 55 MEETING LN HICKSVILLE NY 11801 80,000.00
BSC31P 680116811 DEFILIPO FRANK P JR 255 AUBURN AVENUE STATEN ISLAND NY 10314 105,900.00
BSC31P 680117769 SOTAMBA MARIA 37-54 93RD ST JACKSON HEIGHTS NY 11372 234,000.00
BSC31P 680118148 AMATO DOMENICO 20 CALIFORNIA ST HICKSVILLE NY 11801 62,400.00
BSC31P 680118940 CUNNINGHAM MARIA A 6 TRINITY WAY LAGRANGEVILLE NY 12540 270,250.00
<CAPTION>
Cut-off Date First Original Current Scheduled
Principal Payment Maturity Rem Date LTV Mortgage Payment
Sale ID Account Balance Date Date Term Due Ratio Rate Int & Prin
- ------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
BSC31P 680002953 90,804.31 10/09/96 09/09/11 171.29 06/09/97 75.0 11.250 885.06
BSC31P 680021078 36,568.29 11/01/96 10/01/11 172.00 06/01/97 84.9 12.500 454.80
BSC31P 680027349 34,916.06 12/19/96 11/19/11 173.62 06/19/97 24.1 11.750 353.29
BSC31P 680029063 74,793.94 12/12/96 11/12/11 173.39 06/12/97 88.2 11.100 719.92
BSC31P 680030863 118,686.29 02/23/97 01/23/12 175.76 06/23/97 68.3 9.650 1,013.67
BSC31P 680035300 114,750.00 12/16/96 11/16/11 173.52 05/16/97 85.0 12.250 1,202.46
BSC31P 680036779 107,854.92 12/19/96 11/19/11 173.62 05/19/97 80.0 12.100 1,119.22
BSC31P 680040474 25,461.74 12/01/96 11/01/11 173.00 06/01/97 85.0 12.150 316.98
BSC31P 680042322 31,822.09 01/03/97 12/03/16 234.08 06/03/97 82.8 12.950 372.60
BSC31P 680043692 21,265.81 01/11/97 12/11/11 174.35 06/11/97 89.9 11.750 215.00
BSC31P 680046554 11,288.78 12/25/96 11/25/11 173.82 05/25/97 90.0 11.750 136.18
BSC31P 680053014 29,730.40 01/04/97 12/04/11 174.12 06/04/97 87.4 12.250 364.89
BSC31P 680063419 16,696.00 02/21/97 01/21/12 175.69 06/21/97 80.0 13.000 185.84
BSC31P 680064565 31,379.21 01/23/97 12/23/06 114.74 06/23/97 70.0 9.500 416.66
BSC31P 680068459 59,894.50 02/01/97 01/01/12 175.00 06/01/97 42.8 10.990 570.94
BSC31P 680070570 46,594.69 01/26/97 12/26/11 174.84 06/26/97 89.9 11.150 539.78
BSC31P 680071453 29,654.87 02/17/97 01/17/12 175.56 06/17/97 76.9 9.800 318.72
BSC31P 680072147 157,000.00 02/28/97 01/28/12 175.92 05/28/97 84.8 10.000 1,377.79
BSC31P 680073673 21,000.00 02/02/97 01/02/12 175.07 05/02/97 69.3 13.450 239.71
BSC31P 680074549 35,479.85 01/10/97 12/10/26 354.31 07/10/97 85.0 10.250 319.91
BSC31P 680077104 73,800.38 02/24/97 01/24/12 175.79 05/24/97 70.0 11.250 855.04
BSC31P 680078532 25,545.79 02/23/97 01/23/12 175.76 06/23/97 80.0 10.600 236.09
BSC31P 680085628 20,975.66 03/26/97 02/26/12 176.88 05/26/97 55.2 12.000 252.04
BSC31P 680085933 41,542.95 02/22/97 01/22/12 175.73 06/22/97 89.9 11.550 491.39
BSC31P 680086436 124,026.11 02/22/97 01/22/12 175.73 06/22/97 88.5 12.350 1,528.47
BSC31P 680088069 14,868.90 02/13/97 01/13/12 175.43 06/13/97 81.6 11.500 175.23
BSC31P 680089893 47,933.21 03/25/97 02/25/12 176.84 06/25/97 84.9 13.100 613.02
BSC31P 680090214 36,031.87 02/23/97 01/23/12 175.76 06/23/97 89.9 11.550 425.21
BSC31P 680091089 19,014.65 03/27/97 02/27/12 176.91 06/27/97 80.8 13.750 251.16
BSC31P 680091790 43,000.00 03/11/97 02/11/12 176.38 05/11/97 82.6 12.100 518.84
BSC31P 680093499 65,878.77 03/26/97 02/26/17 236.88 06/26/97 84.5 13.250 788.00
BSC31P 680095437 86,631.10 03/14/97 02/14/27 356.48 06/14/97 85.0 10.750 809.33
BSC31P 680095791 75,040.72 03/20/97 02/20/17 236.68 06/20/97 85.9 9.400 696.43
BSC31P 680095973 41,845.20 04/05/97 03/05/27 357.11 06/05/97 76.3 10.850 395.22
BSC31P 680098852 97,900.00 04/03/97 03/03/12 177.04 06/03/97 84.9 11.250 950.86
BSC31P 680099561 83,300.00 03/28/97 02/28/12 176.94 05/28/97 85.0 12.250 872.90
BSC31P 680100997 99,802.87 04/03/97 03/03/12 177.04 07/03/97 72.3 11.800 1,013.24
BSC31P 680103389 81,654.28 04/04/97 03/04/12 177.07 06/04/97 89.9 11.750 827.72
BSC31P 680103512 91,831.48 03/13/97 02/13/12 176.45 06/13/97 80.0 9.400 766.88
BSC31P 680104957 42,130.80 03/14/97 02/14/12 176.48 06/14/97 85.0 12.750 530.13
BSC31P 680105764 25,868.20 03/26/97 02/26/12 176.88 05/26/97 90.0 11.750 306.69
BSC31P 680105855 50,005.42 03/28/97 02/28/07 116.94 06/28/97 66.3 9.550 662.62
BSC31P 680106085 182,750.00 04/13/97 03/13/12 177.37 06/13/97 85.0 13.250 2,057.35
BSC31P 680106135 30,898.11 03/18/97 02/18/12 176.61 06/18/97 88.5 12.750 387.14
BSC31P 680106838 62,754.57 03/28/97 02/28/12 176.94 05/28/97 63.2 10.050 678.93
BSC31P 680107877 14,718.38 03/05/97 02/05/12 176.19 06/05/97 89.9 11.350 171.77
BSC31P 680108982 92,800.00 03/27/97 02/27/27 356.91 05/27/97 80.0 14.050 1,103.23
BSC31P 680109378 123,250.00 04/06/97 03/06/12 177.14 06/06/97 85.0 12.500 1,315.39
BSC31P 680109766 22,660.48 04/18/97 03/18/17 237.53 06/18/97 89.8 12.990 266.96
BSC31P 680110483 82,500.00 04/26/97 03/26/12 177.80 05/26/97 86.8 10.400 906.85
BSC31P 680110574 64,915.35 04/04/97 03/04/17 237.07 05/04/97 54.1 10.500 648.95
BSC31P 680113529 39,610.90 03/12/97 02/12/12 176.42 06/12/97 78.6 10.500 365.90
BSC31P 680113578 169,815.99 04/19/97 03/19/12 177.57 06/19/97 85.0 12.350 1,794.57
BSC31P 680113594 200,000.00 04/18/97 03/18/12 177.53 05/18/97 80.0 11.600 1,995.86
BSC31P 680113966 38,971.51 03/05/97 02/05/12 176.19 06/05/97 89.7 12.550 417.74
BSC31P 680114113 54,159.08 04/10/97 03/10/12 177.27 06/10/97 79.5 12.750 589.41
BSC31P 680114238 95,982.72 03/14/97 02/14/12 176.48 05/14/97 80.0 14.050 1,141.28
BSC31P 680115748 58,941.02 03/13/97 02/13/27 356.45 06/13/97 70.0 11.000 566.63
BSC31P 680116282 55,511.17 03/20/97 02/20/12 176.68 06/20/97 85.0 11.750 561.99
BSC31P 680116720 80,000.00 03/26/97 02/26/12 176.88 05/26/97 39.0 14.500 979.64
BSC31P 680116811 105,746.15 05/01/97 04/01/17 238.00 06/01/97 65.7 12.250 1,184.56
BSC31P 680117769 233,898.49 05/01/97 04/01/27 358.00 06/01/97 90.0 11.800 2,370.99
BSC31P 680118148 62,366.80 03/28/97 02/28/12 176.94 05/28/97 84.9 14.850 866.95
BSC31P 680118940 270,250.00 04/27/97 03/27/12 177.83 05/27/97 63.5 12.550 2,894.75
</TABLE>
<PAGE>
Page 29 6/24/97
ALLIANCE FUNDING COMPANY
A DIVISION OF SUPERIOR BANK FSB
SALE SCHEDULE
1997-2 CLASS 1 - INITIAL POOL OF FIXED RATE MORTGAGES - SETTLEMENT 6/25/97
<TABLE>
<CAPTION>
Principal
Zip Balance at
Sale ID Account Name Address City State Code Origination
- ----------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C>
BSC31P 680119666 FARREN CHARLES A 524 OAKLAND AVENUE BERLIN NJ 08009 90,400.00
BSC31P 680119674 NUNEZ MERCEDES 95-22 80TH STREET OZONE PARK NY 11416 80,000.00
BSC31P 680119716 MARKLIN DORIS Y. 105 WOODLAND ROAD ROCKINGHAM NC 28379 52,800.00
BSC31P 680119807 MCQUEEN CALVIN 7411 DREXEL ROAD PHILADELPHIA PA 19151 64,350.00
BSC31P 680120235 LAGROSSE JAMES R 144 MEADOWBROOK COURT NICEVILLE FL 32578 81,709.00
BSC31P 680120615 WALKER JOHN F 112 SEGAR MOUNTAIN RD KENT CT 06757 80,000.00
BSC31P 680120920 IACOBUCCI DOMINIC A 19 EMERSON DRIVE LATHAM NY 12110 64,400.00
BSC31P 680121472 ADAMS RICHARD W 2805 MUMMASBURG RD GETTYSBURG PA 17325 63,750.00
BSC31P 680122231 BATTISTA CAROL A 513 CLAREMONT ROAD SPRINGFIELD PA 19064 50,000.00
BSC31P 680122678 RODRIGUEZ RAFAEL 109 MARKET STREET PERTH AMBOY NJ 08861 18,000.00
BSC31P 680122967 WHITEHOUSE WILLIAM F 4956 BROOKSDALE MENTOR OH 44060 60,000.00
BSC31P 680123007 ALEXANDER MARK L. 55 HAWKINS DRIVE LEICESTER NC 28748 112,500.00
BSC31P 680124245 NULL HARRY O III 1114 EAST WALNUT STREET GOLDSBORO NC 27530 14,750.00
BSC31P 680124674 REYMANN MARIAN 5736 CALVERTON ST CATONSVILLE MD 21228 67,500.00
BSC31P 680125077 WRIGHT JULIAN 16318 PHROANE AVE JAMAICA NY 11433 110,500.00
BSC31P 680125309 SZYPULSKI HENRY P 140 DUNCAN ROAD GANSEVOORT NY 12831 22,000.00
BSC31P 680127206 BESSO STEPHEN M 30 ROUTE 284 WANTAGE NJ 07461 155,400.00
BSC31P 680131679 SHIN CHUL YONG 6 GREENVALE LN SYOSSET NY 11791 98,000.00
------------------------------------- ----------------
82 Sale Total 5,825,613.00
189 Total with Banco Santander 10,339,228.00
<CAPTION>
Cut-off Date First Original Current Scheduled
Principal Payment Maturity Rem Date LTV Mortgage Payment
Sale ID Account Balance Date Date Term Due Ratio Rate Int & Prin
- --------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
BSC31P 680119666 90,162.87 05/01/97 04/01/12 178.00 06/01/97 80.0 12.250 947.30
BSC31P 680119674 79,641.92 04/07/97 03/07/12 177.17 06/07/97 52.1 11.500 934.55
BSC31P 680119716 52,367.69 04/04/97 03/04/12 177.07 07/04/97 86.5 10.600 586.93
BSC31P 680119807 64,350.00 03/21/97 02/21/12 176.71 06/21/97 90.0 11.450 634.80
BSC31P 680120235 81,704.93 04/11/97 03/11/17 237.30 06/11/97 80.9 10.050 791.22
BSC31P 680120615 78,705.19 05/01/97 04/01/12 178.00 07/01/97 80.0 13.000 884.96
BSC31P 680120920 64,096.64 04/19/97 03/19/17 237.57 06/19/97 89.5 11.100 669.12
BSC31P 680121472 63,478.30 03/20/97 02/20/12 176.68 06/20/97 75.0 11.950 653.29
BSC31P 680122231 49,903.19 03/14/97 02/14/12 176.48 05/14/97 84.9 12.350 611.39
BSC31P 680122678 17,890.88 05/04/97 04/04/12 178.09 07/04/97 79.9 13.100 228.93
BSC31P 680122967 60,000.00 04/05/97 03/05/12 177.11 06/05/97 72.2 11.950 718.17
BSC31P 680123007 112,414.62 04/07/97 03/07/17 237.17 06/07/97 90.0 10.990 1,160.45
BSC31P 680124245 14,735.91 05/01/97 04/01/12 178.00 06/01/97 89.9 11.550 172.78
BSC31P 680124674 67,383.26 03/21/97 02/21/12 176.71 05/21/97 82.7 12.400 827.56
BSC31P 680125077 110,500.00 03/19/97 02/19/12 176.65 05/19/97 65.0 15.340 1,427.30
BSC31P 680125309 21,962.21 04/21/97 03/21/12 177.63 06/21/97 87.8 11.350 254.91
BSC31P 680127206 154,809.91 05/01/97 04/01/27 358.00 06/01/97 82.6 11.000 1,479.91
BSC31P 680131679 97,966.20 05/02/97 04/02/12 178.03 06/02/97 85.0 13.900 1,153.42
------------------------- ------ -------------------------
82 5,808,844.55 204.02 78.9 11.868 62,493.76
189 10,310,503.54 205.12 79.4 11.829 110,954.60
</TABLE>
<PAGE>
Page 30 6/24/97
ALLIANCE FUNDING COMPANY
A DIVISION OF SUPERIOR BANK FSB
SALE SCHEDULE
1997-2 CLASS 1 - INITIAL POOL OF FIXED RATE MORTGAGES - SETTLEMENT 6/25/97
<TABLE>
<CAPTION>
Principal
Zip Balance at
Sale ID Account Name Address City State Code Origination
- ----------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C>
MLC690 680042371 THOMAS EDDIE L SR 407 CASPER COURT FAYETTEVILLE NC 28303 58,272.00
MLC690 680062213 ADAMS C EDWARD 2497 SANDY LN NAPLES FL 34112 57,000.00
MLC690 680073772 WENDELGASS STEPHEN 3 ARDSLEY CIRCLE CHURCHVILLE NY 14428 22,000.00
MLC690 680086899 JIMENEZ MARIA J 12710 POLLY PL TAMPA FL 33625 13,800.00
MLC690 680087004 BAKER BRIAN K 7077 BETHEL CT RIVERDALE GA 30296 29,000.00
MLC690 680099546 SULLIVAN JOANNE 143 SUNDUST ROAD EIGHTY FOUR PA 15330 178,000.00
MLC690 680120318 MOYER RONALD L 4224 GERYVILLE PIKE GREEN LANE PA 18054 25,000.00
MLC690 680123593 BLAKE VALERIE 2924 MICKLE AVENUE BRONX NY 10469 185,000.00
MLC690 680126034 FINDLEY THERESA ANN 3631 JONQUIL LANE WINTER PARK FL 32792 82,450.00
MLC690 680126687 RENZI DOMINIC 380 CYPRESS CREEK CIRCLE OLDSMAR FL 34677 10,000.00
MLC690 680127073 RYBAK STANLEY 19 BLUE JAY LANE LEVITTOWN NY 11756 35,500.00
MLC690 680128535 REILLY DIANA W 114 N BERNE ST SCHUYLKILL HAVEN PA 17972 61,910.00
MLC690 680128873 MACARI GERALD 41 CHARLES MARY LN STAMFORD CT 06908 32,000.00
MLC690 680128949 SWEARER LEONARD R 320 EDGEWORTH ST MIDDLESEX NJ 08846 18,000.00
MLC690 680129319 MARKOVITCH IVAN P 306 RIDGE AVENUE ALLENTOWN PA 18102 38,400.00
MLC690 680130218 RITTER CHRISTOPHE S 434 N WEST STREET CARLISLE PA 17013 60,000.00
MLC690 680130226 MURPHY PATRICK D 43 POPLAR AVE POMPTON PLAINS NJ 07444 35,500.00
MLC690 680130317 BLOOM PAUL R 16 LAWRENCE AVE STANHOPE NJ 07874 14,000.00
MLC690 680130796 ANDRE ITELUS 490 4901/2492 BENEDICT AVE TARRYTOWN NY 10591 292,500.00
MLC690 680130903 RODGERS ROBERT 374 DOUGLAS STREET BROOKLYN NY 11217 144,500.00
MLC690 680132149 HARKER DEBORA J 5814 CATOCTIN OVERLOOK DR MOUNT AIRY MD 21771 27,500.00
MLC690 680132164 POLLASTRO ANDREW 8571 BUTTON RD CICERO NY 13039 50,000.00
MLC690 680133238 BLANCHARD GEORGE F 1600 BELLROSE DRIVE NORTH CLEARWATER FL 34616 46,000.00
MLC690 680133394 WARREN PAUL RR 1 BOX 392 CANDLER NC 28715 64,800.00
MLC690 680133501 VENEZIAN RICHARD R 35 MANLY PL NEW HYDE PARK NY 11040 42,000.00
MLC690 680133626 BALKITS JOHN E 47 MAIN ST KERHONKSON NY 12446 36,000.00
MLC690 680133642 GREEN SHELBY D 102 RICHARDS RD KENT CT 06785 34,500.00
MLC690 680134756 ZLOCHOWER BRIAN J 12 DIANE LANE EAST NORTHPORT NY 11731 29,200.00
MLC690 680134988 GILBERT MONIQUE Y. 6908 TIMBERWOOD DR FAYETTEVILLE NC 28314 15,950.00
MLC690 680135183 SWICK ROSE P 3134 WOODHOME AVE BALTIMORE MD 21234 93,500.00
MLC690 680135316 KOHL LAWRENCE 49 GAULDY AVE STATEN ISLAND NY 10314 124,000.00
MLC690 680135506 SAAD MOHAMED HASSON 5844 CROWFOOT DRIVE BURKE VA 22015 33,500.00
MLC690 680136066 MYERS DAVID 153 S MAIN ST NORWALK CT 06854 64,800.00
MLC690 680136140 BYRD BRENDA BURNETTE 560 ELMWOOD DRIVE ATLANTA GA 30306 42,500.00
MLC690 680136413 BADIO KERLINE P 17 MEADOWVIEW AVE STRATFORD CT 06497 74,800.00
MLC690 680136470 BROOKS ROSA MARIE 2816 ELLICOTT DR BALTIMORE MD 21216 48,000.00
MLC690 680136942 CROOMS STANLEY N 250 MIRROR LAKE DRIVE ST PETERSBURG FL 33701 62,000.00
MLC690 680137015 PERRY ANTHONY J 35 DUFRESNE DRIVE TEWKSBURY MA 01876 20,000.00
MLC690 680137353 HILBORNE DONALD 23 STETSON AVE PLATTSBURGH NY 12901 15,500.00
MLC690 680137601 NATALONI ROBERT C 81 OLD FIELD ROAD EAST SETAUKET NY 11733 87,000.00
MLC690 680137619 WELCH ALAN L 203 GREENRIDGE RD GREENSBURG PA 15601 42,100.00
MLC690 680137775 MELLION DAVID A 1 BEAVER CT NEW CITY NY 10956 40,200.00
MLC690 680138138 LINEHAN ROBERT H 7742 RAYMARY STREET BOKEELIA FL 33922 22,320.00
MLC690 680138237 SCHIMAN CHARLES R 5155 PUETZ ROAD STEVENSVILLE MI 49127 40,300.00
MLC690 680138310 NICHOLS MARK S 403 SOUTH 13TH STREET HARRISBURG PA 17103 26,500.00
MLC690 680139102 PANCIA THOMAS 193 WANSER AVE INWOOD NY 11096 28,500.00
MLC690 680139375 DAVIS JOHN EDWARD 4324 HARTFORD HILLS DR SUITLAND MD 20746 40,000.00
MLC690 680139482 APONTE BRIAN 26 NATELLE AVENUE BROOKSVILLE FL 34601 50,400.00
MLC690 680139755 NORCROSS JOHN A 105 MC CLELLAND AVE POLK PA 16342 21,600.00
MLC690 680139813 ALLAN JEANNE M 2531 SEA OATS CIRCLE SOUTH LAKELAND FL 33815 31,000.00
MLC690 680140183 HOCKERSMITH RAYMOND C JR 7330 BELL CREEK RD MUNCIE IN 47302 38,000.00
MLC690 680140373 JACKSON DIANE 911 4TH ST UNION BEACH NJ 07735 78,500.00
MLC690 680140647 JOHNSON MILDRED 513 FITZGERALD DRIVE EATONVILLE FL 32751 53,200.00
MLC690 680141090 DUNLAP HOWARD L 3726 WILDWOOD FARMS DRIVE DULUTH GA 30136 23,750.00
MLC690 680141702 HOLLAND GREGORY D 6551 SKYVIEW LANE COOPERSBURG PA 18036 23,300.00
MLC690 680142163 SEYFRIED NANCY 88 MONTGOMERY ST MIDDLETOWN NY 10940 47,000.00
MLC690 680142791 THIBODEAU GINAMARIE 203M THUNDERHILL RD WOODBOURNE NY 12788 77,350.00
MLC690 680142825 BAHANONDE HIMILZE 90-41 176TH STREET JAMAICA NY 11432 127,500.00
MLC690 680143518 LEAR DENNIS C 40 FOREST DRIVE MOUNTAINTOP PA 18707 96,840.00
MLC690 680143583 GREIS BERND W 4520 TARALEY CT ELLICOTT CITY MD 21042 67,000.00
MLC690 680143591 SPROUSE MANDY LEE 308 RED OAK LN CRESSON PA 16630 12,203.00
MLC690 680143815 KORTMAN GERALD P 1519 8TH AVENUE COURT SE PUYALLUP WA 98372 32,250.00
MLC690 680144185 POLLACK SIDNEY 152 NORTHWOOD DR MIDDLEBURY CT 06762 44,485.00
MLC690 680144706 NEVILLE DAVID T 9281 84TH STREET NORTH LARGO FL 33777 12,300.00
<CAPTION>
Cut-off Date First Original Current Scheduled
Principal Payment Maturity Rem Date LTV Mortgage Payment
Sale ID Account Balance Date Date Term Due Ratio Rate Int & Prin
- -------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
MLC690 680042371 57,645.00 12/25/96 11/25/11 173.82 05/25/97 74.7 10.600 647.76
MLC690 680062213 56,802.41 01/27/97 12/27/16 234.87 05/27/97 61.7 12.250 637.58
MLC690 680073772 21,731.20 02/02/97 01/02/07 115.07 06/02/97 84.1 11.550 309.94
MLC690 680086899 13,706.31 02/14/97 01/14/12 175.46 06/14/97 84.9 12.350 168.74
MLC690 680087004 28,854.52 02/06/97 01/06/12 175.20 06/06/97 80.0 11.100 331.44
MLC690 680099546 178,000.00 04/10/97 03/10/12 177.27 05/10/97 66.9 11.250 1,728.85
MLC690 680120318 24,930.58 04/12/97 03/12/12 177.34 06/12/97 80.0 13.250 320.43
MLC690 680123593 184,854.32 05/15/97 04/15/27 358.45 06/15/97 80.4 10.900 1,747.83
MLC690 680126034 81,633.61 03/26/97 02/26/12 176.88 06/26/97 85.0 9.850 878.46
MLC690 680126687 9,897.30 03/19/97 02/19/12 176.65 06/19/97 85.0 11.500 116.82
MLC690 680127073 35,405.23 05/09/97 04/09/12 178.26 05/09/97 89.6 11.600 354.26
MLC690 680128535 61,572.36 03/24/97 02/24/17 236.81 06/24/97 80.4 9.300 569.02
MLC690 680128873 32,000.00 04/26/97 03/26/12 177.80 05/26/97 74.8 12.450 340.29
MLC690 680128949 17,585.14 03/26/97 02/26/07 116.88 06/26/97 70.1 9.900 236.88
MLC690 680129319 38,322.34 05/01/97 04/01/27 358.00 07/01/97 80.0 12.500 409.83
MLC690 680130218 59,801.53 04/21/97 03/21/12 177.63 06/21/97 68.5 10.050 528.76
MLC690 680130226 35,430.05 04/24/97 03/24/12 177.73 06/24/97 89.8 13.400 458.54
MLC690 680130317 13,943.83 04/03/97 03/03/12 177.04 06/03/97 78.8 10.500 154.76
MLC690 680130796 291,763.66 12/22/96 11/22/26 353.72 06/22/97 90.0 11.990 3,006.44
MLC690 680130903 144,500.00 04/27/97 03/27/12 177.83 05/27/97 85.0 12.100 1,497.48
MLC690 680132149 27,263.49 03/26/97 02/26/12 176.88 06/26/97 84.9 12.950 347.04
MLC690 680132164 49,752.75 04/21/97 03/21/17 237.63 06/21/97 64.1 11.250 524.63
MLC690 680133238 45,573.51 03/28/97 02/28/12 176.94 06/28/97 89.2 11.600 540.30
MLC690 680133394 64,616.54 04/24/97 03/24/12 177.73 06/24/97 90.0 12.300 790.26
MLC690 680133501 42,000.00 05/09/97 04/09/12 178.26 06/09/97 84.6 10.350 379.49
MLC690 680133626 35,760.20 04/04/97 03/04/17 237.07 07/04/97 75.0 13.990 447.41
MLC690 680133642 34,448.87 04/14/97 03/14/12 177.40 06/14/97 88.0 12.300 420.74
MLC690 680134756 29,117.90 05/07/97 04/07/17 238.19 06/07/97 85.8 13.000 342.10
MLC690 680134988 15,606.48 04/21/97 03/21/12 177.63 07/21/97 89.5 11.500 186.33
MLC690 680135183 93,500.00 04/03/97 03/03/12 177.04 06/03/97 85.0 12.800 1,019.70
MLC690 680135316 124,000.00 05/01/97 04/01/12 178.00 06/01/97 71.2 11.500 1,227.96
MLC690 680135506 33,500.00 04/25/97 03/25/12 177.76 05/25/97 84.9 12.500 357.53
MLC690 680136066 64,800.00 04/24/97 03/24/12 177.73 05/24/97 80.9 13.250 729.50
MLC690 680136140 42,437.89 04/04/97 03/04/12 177.07 06/04/97 79.8 13.250 478.45
MLC690 680136413 74,694.81 03/28/97 02/28/12 176.94 05/28/97 85.0 10.050 659.19
MLC690 680136470 48,000.00 04/03/97 03/03/12 177.04 06/03/97 79.3 14.700 595.43
MLC690 680136942 61,686.49 04/14/97 03/14/12 177.40 06/14/97 79.9 10.750 694.99
MLC690 680137015 20,000.00 05/03/97 04/03/12 178.06 05/03/97 83.2 12.600 247.81
MLC690 680137353 15,500.00 05/01/97 04/01/17 238.00 06/01/97 79.9 14.250 195.57
MLC690 680137601 86,579.50 05/02/97 04/02/12 178.03 07/02/97 86.2 11.400 1,010.80
MLC690 680137619 42,100.00 05/01/97 04/01/17 238.00 06/01/97 80.0 11.750 456.24
MLC690 680137775 39,947.26 03/27/97 02/27/17 236.91 06/27/97 84.9 12.750 463.83
MLC690 680138138 22,087.25 04/17/97 03/17/07 117.50 06/17/97 65.6 11.750 317.01
MLC690 680138237 39,784.43 05/01/97 04/01/27 358.00 08/01/97 54.4 9.650 343.28
MLC690 680138310 26,277.94 04/10/97 03/10/07 117.27 06/10/97 66.2 9.650 345.08
MLC690 680139102 28,500.00 05/01/97 04/01/12 178.00 06/01/97 89.0 11.800 288.77
MLC690 680139375 39,776.85 04/05/97 03/05/12 177.11 06/05/97 89.8 10.990 454.39
MLC690 680139482 50,400.00 04/14/97 03/14/12 177.40 05/14/97 80.0 12.850 551.62
MLC690 680139755 21,568.05 05/01/97 04/01/12 178.00 07/01/97 80.0 13.500 247.41
MLC690 680139813 30,843.94 04/10/97 03/10/12 177.27 06/10/97 79.4 11.750 367.08
MLC690 680140183 38,000.00 05/08/97 04/08/12 178.22 06/08/97 74.9 11.250 437.89
MLC690 680140373 78,331.35 05/01/97 04/01/12 178.00 06/01/97 58.1 11.250 904.59
MLC690 680140647 53,175.19 05/01/97 04/01/27 358.00 06/01/97 80.0 11.250 516.71
MLC690 680141090 23,722.61 05/01/97 04/01/12 178.00 06/01/97 85.0 12.000 285.04
MLC690 680141702 23,300.00 05/01/97 04/01/12 178.00 06/01/97 80.0 12.990 294.65
MLC690 680142163 47,000.00 05/14/97 04/14/12 178.42 05/14/97 62.6 10.150 509.39
MLC690 680142791 76,795.81 05/01/97 04/01/07 118.00 06/01/97 85.0 10.500 1,043.72
MLC690 680142825 127,255.58 05/01/97 04/01/27 358.00 07/01/97 85.0 10.500 1,166.29
MLC690 680143518 96,705.90 04/26/97 03/26/27 357.80 06/26/97 90.0 10.900 914.92
MLC690 680143583 66,973.84 04/14/97 03/14/12 177.40 06/14/97 67.5 13.100 746.39
MLC690 680143591 11,882.71 01/23/97 12/23/06 114.74 06/23/97 90.0 12.500 178.62
MLC690 680143815 32,031.66 05/04/97 04/04/12 178.09 07/04/97 88.7 11.150 369.60
MLC690 680144185 44,485.00 05/01/97 04/01/17 238.00 06/01/97 84.9 12.650 510.12
MLC690 680144706 12,242.00 05/01/97 04/01/12 178.00 07/01/97 90.0 11.800 146.04
</TABLE>
<PAGE>
Page 31 6/24/97
ALLIANCE FUNDING COMPANY
A DIVISION OF SUPERIOR BANK FSB
SALE SCHEDULE
1997-2 CLASS 1 - INITIAL POOL OF FIXED RATE MORTGAGES - SETTLEMENT 6/25/97
<TABLE>
<CAPTION>
Principal
Zip Balance at
Sale ID Account Name Address City State Code Origination
- ----------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C>
MLC690 680144938 WEAVER NATALIE J 10381 KUMQUAT LANE SEMINOLE FL 34642 26,500.00
MLC690 680144946 HAUK JO ANN 2164 26TH AVENUE NORTH ST PETERSBURG FL 33713 42,500.00
MLC690 680145687 GIGUERE RICHARD A 144 CUMBERLAND RD LOWELL MA 01850 17,000.00
MLC690 680146024 GENTRY CHARLES E 2242 BUENA VISTA DRIVE CLEARWATER FL 34624 46,000.00
MLC690 680146115 GLAGOLA STEPHEN 601 E MAIN ST MIDDLETOWN MD 21769 28,000.00
MLC690 680146859 SIMPSON RICHARD H 5920 ELM STREET ACWORTH GA 30102 28,800.00
MLC690 680147279 SETINSEK RONALD E 1935 VALLEY GREEN ROAD ETTERS PA 17319 12,400.00
MLC690 680147667 YURICK RONALD M 760 BROOKLINE TRACE ALPHARETTA GA 30202 90,000.00
MLC690 680148020 ALEJANDRO VICTOR M 2853 DEWEY AVE BRONX NY 10465 35,000.00
MLC690 680148160 OCONNOR DAVID 63 GREENWOOD AVNEUE GREENWOOD LAKE NY 10925 57,400.00
MLC690 680148269 SHIN CHUN S 8509 HEATHER POINT DR SPRINGFIELD VA 22152 70,000.00
MLC690 680148335 BUTLER MARGARET 937 E 54TH ST BROOKLYN NY 11234 218,700.00
MLC690 680148392 MCKENZIE LEONIE 444 POPLAR ST NEW HAVEN CT 06513 52,700.00
MLC690 680148897 NICHOLS ANNYE 1035 9TH AVENUE SOUTH ST PETERSBURG FL 33705 24,375.00
MLC690 680148921 OLP GENE A 4770 HIGHLANDS PLACE DRIVE LAKELAND FL 33813 41,750.00
MLC690 680149150 RYDER AUSTIN F JR 5826 MASSACHUSETTS AVENUE NEW PORT RICHEY FL 34652 19,250.00
MLC690 680149531 LEBLANC LOUIS C 2610 OUTRIDGE COURT ORANGE PARK FL 32065 30,190.00
MLC690 680149739 ORTEGA SHIRLEY 545 HINSDALE STREET BROOKLYN NY 11207 111,000.00
MLC690 680149812 MARINO CARMINE 302 12TH ST WEST BABYLON NY 11704 60,000.00
MLC690 680149879 MANGER WAYNE M 9 SUGAR CT CATONSVILLE MD 21228 22,800.00
MLC690 680149952 MORSE MATTIE E 5202 KENSTAN DR TEMPLE HILLS MD 20748 59,600.00
MLC690 680150000 CURRY CHARLES W 7008 S DESOTA STREET TAMPA FL 33616 34,400.00
MLC690 680150158 RHEE SUN BOCK 1 FLEETWOOD RD COMMACK NY 11725 129,000.00
MLC690 680150281 MORGAN JAMES J 2825 CEDARIDGE DRIVE TAMPA FL 33618 20,700.00
MLC690 680150349 WOOD DANIEL LEE 20007 GORE MILL RD FREELAND MD 21053 136,000.00
MLC690 680150596 DESMOND DIANNE 6280 CRANBROOK COURT SPRING HILL FL 34606 10,500.00
MLC690 680151222 KRASNIQI ASLLAN 6 CHAUNCY RD CARMEL NY 10512 99,450.00
MLC690 680151255 WENTWORTH CARL A 6900 ALBATROSS LN HUDSON FL 34667 38,250.00
MLC690 680151669 CAIN WILLIAM R JR 6665 3RD AVENUE RICHMOND VA 23231 68,400.00
MLC690 680151925 CREECH CAROLYN W. 428 EAST STALLINGS STREET CLAYTON NC 27520 36,000.00
MLC690 680152584 LOWRY ERIC L 128 COUNTRY LANE GLOVERSVILLE NY 12078 24,000.00
MLC690 680153046 RUBINO JOHN 35 HALLIDAY ROAD CORAM NY 11727 30,000.00
MLC690 680153087 VEREEN JOANNE 4437 10TH AVENUE SOUTH ST PETERSBURG FL 33711 47,700.00
MLC690 680153350 ALIREZAEI HOSSEIN 13590 SOUTHWEST 73RD COURT MIAMI FL 33156 51,450.00
MLC690 680153368 ESPEY ROYCE W 8012 STILLBREEZE DRIVE FUQUAY VARINA NC 27526 22,000.00
MLC690 680153673 BRESCIA STEVEN T 4 CHELSEA LANE CHESTNUT RIDGE NY 10977 35,000.00
MLC690 680153921 WILLIS MILBURNE 4801 OLD YORK RD BALTIMORE MD 21212 56,000.00
MLC690 680154127 WALLACE LESLIEANN J 94 DABOLL STREET PROVIDENCE RI 02907 14,500.00
MLC690 680154440 MCELVEEN RODNEY P 288 BELLEVIEW BOULEVARD BELLEAIR FL 34616 108,400.00
MLC690 680154614 HINDLE NORRIS CECIL 16609 PRINCE FREDERICK ROA HUGHESVILLE MD 20637 27,200.00
MLC690 680155066 SOTO SAMUEL 240 A VERNON AVE BROOKLYN NY 11206 85,000.00
MLC690 680155157 MURPHY JOANNE A 560 VALLEY AVENUE WESTCHESTER NY 10703 25,000.00
MLC690 680155280 CAREY JAMES K 17719 BONIFAY LANE SPRING HILL FL 34610 37,000.00
MLC690 680155553 WILLIAMS FANNIE 5920 CATAWBA WAY COLLEGE PARK GA 30349 123,250.00
MLC690 680155728 ENGLISH CASSANDRA 1071 STRAIGHT PATH WEST BABYLON NY 11704 98,400.00
MLC690 680156163 WRAY CARLA V 22435 SW 108TH AVENUE TUALATIN OR 97062 101,250.00
MLC690 680156361 JONES DONNA 207 FRONT AVENUE BRENTWOOD NY 11717 25,000.00
MLC690 680156569 KOSINSKI JAMES E 8557 STATE HIGHWAY 30 DELANSON NY 12053 16,900.00
MLC690 680157211 BOOTH DAVID 1171 KALREDA ROAD YORK PA 17402 180,000.00
MLC690 680157237 SIDDIQUI MOHAMMED S 320 CEDAR ROAD ELKINS PARK PA 19027 21,300.00
MLC690 680157328 JACKSON KATIE MAE 2670 HIGHWAY 38 SOUTH BLENHEIM SC 29516 28,000.00
MLC690 680157583 WHEELER DENNIS 159 KINDERKAMACK RD HILLSDALE NJ 07642 130,400.00
MLC690 680157740 ORDANOFF NANCY L 6515 DANNER ROAD HARRISBURG PA 17112 40,800.00
MLC690 680158177 GOULAS DEMETRIOS 12716 MULBERRY LANE HUDSON FL 34667 35,200.00
MLC690 680158268 FRANK RICHARD L 1070 ALLISON AVENUE WASHINGTON PA 15301 14,971.00
MLC690 680159639 LANG CHARLES A 716 SHADY LN CLEARWATER FL 34624 15,000.00
MLC690 680159951 REITZEL ARLENE 39 PUTNAM AVE PATCHOGUE NY 11772 60,000.00
MLC690 680160009 SMITH TIMOTHY P 433 TILGHMAN STREET ALLENTOWN PA 18102 42,000.00
MLC690 680160090 REITZEL ARLENE F 38 PUTNAM AVE PATCHOGUE NY 11772 20,000.00
MLC690 680160132 GREENE LORRIE C 40 ST FRANCIS STREET ROOSEVELT NY 11575 102,000.00
MLC690 680160215 ADAMS JAMES L 29 SOUTH BALTIMORE STREET FRANKLINTOWN PA 17323 57,400.00
MLC690 680160264 OKAFOR JAY MICHAEL 240 EAST SIDE AVENUE ATLANTA GA 30316 38,500.00
MLC690 680160306 RE THOMAS G 11098 GOLDEN EAGLE AVENUE BROOKSVILLE FL 34613 154,000.00
MLC690 680160439 CHURCH JOSEPHINE K 5246 CACTUS DRIVE PITTSBURGH PA 15326 55,000.00
<CAPTION>
Cut-off Date First Original Current Scheduled
Principal Payment Maturity Rem Date LTV Mortgage Payment
Sale ID Account Balance Date Date Term Due Ratio Rate Int & Prin
- ------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
MLC690 680144938 26,367.52 05/01/97 04/01/17 238.00 07/01/97 74.6 10.900 271.73
MLC690 680144946 42,421.55 04/24/97 03/24/27 357.73 06/24/97 85.0 11.900 433.89
MLC690 680145687 17,000.00 05/01/97 04/01/12 178.00 06/01/97 89.7 12.750 212.30
MLC690 680146024 46,000.00 05/07/97 04/07/12 178.19 05/07/97 84.9 12.850 503.46
MLC690 680146115 27,891.48 04/19/97 03/19/12 177.57 06/19/97 16.1 12.250 293.41
MLC690 680146859 28,770.34 05/01/97 04/01/12 178.00 06/01/97 60.0 11.300 332.79
MLC690 680147279 12,374.88 05/07/97 04/07/12 178.19 06/07/97 84.9 12.650 154.05
MLC690 680147667 90,000.00 04/21/97 03/21/12 177.63 06/21/97 89.7 11.300 877.55
MLC690 680148020 34,839.61 05/09/97 04/09/12 178.26 07/09/97 80.1 12.550 374.90
MLC690 680148160 57,211.28 04/28/97 03/28/12 177.86 06/28/97 70.0 9.400 478.47
MLC690 680148269 69,877.16 04/19/97 03/19/12 177.57 06/19/97 73.3 11.250 806.64
MLC690 680148335 218,700.00 05/01/97 04/01/12 178.00 06/01/97 90.0 11.050 2,091.00
MLC690 680148392 52,509.01 04/18/97 03/18/12 177.53 06/18/97 85.0 12.000 632.49
MLC690 680148897 24,192.84 05/04/97 04/04/12 178.09 07/04/97 75.0 10.050 262.68
MLC690 680148921 41,540.56 04/28/97 03/28/12 177.86 06/28/97 79.5 10.150 452.49
MLC690 680149150 19,134.69 04/27/97 03/27/12 177.83 06/27/97 85.0 10.550 213.39
MLC690 680149531 30,186.53 04/26/97 03/26/12 177.80 05/26/97 85.8 12.150 365.25
MLC690 680149739 110,211.69 05/01/97 04/01/17 238.00 06/01/97 69.3 9.800 1,056.51
MLC690 680149812 59,978.28 05/01/97 04/01/17 238.00 06/01/97 51.2 9.900 575.04
MLC690 680149879 22,800.00 05/14/97 04/14/12 178.42 06/14/97 73.0 13.350 258.47
MLC690 680149952 59,600.00 05/02/97 04/02/12 178.03 06/02/97 84.7 12.750 744.31
MLC690 680150000 33,867.05 04/26/97 03/26/07 117.80 06/26/97 65.5 9.650 447.96
MLC690 680150158 128,715.88 05/14/97 04/14/12 178.42 06/14/97 84.9 13.450 1,472.51
MLC690 680150281 20,698.75 05/01/97 04/01/07 118.00 06/01/97 84.6 12.250 299.98
MLC690 680150349 135,965.19 04/19/97 03/19/27 357.57 06/19/97 74.7 11.450 1,341.61
MLC690 680150596 10,488.99 05/09/97 04/09/12 178.26 06/09/97 81.1 12.400 128.73
MLC690 680151222 99,332.95 04/25/97 03/25/12 177.76 06/25/97 85.0 12.000 1,022.96
MLC690 680151255 38,250.00 05/09/97 04/09/17 238.26 05/09/97 76.5 11.750 414.52
MLC690 680151669 68,055.42 05/01/97 04/01/27 358.00 07/01/97 80.0 9.600 580.14
MLC690 680151925 35,938.75 05/04/97 04/04/12 178.09 06/04/97 51.4 11.200 348.29
MLC690 680152584 23,847.28 05/07/97 04/07/12 178.19 07/07/97 89.3 11.550 281.13
MLC690 680153046 29,961.86 05/01/97 04/01/12 178.00 06/01/97 89.6 11.550 351.41
MLC690 680153087 47,552.95 04/24/97 03/24/12 177.73 06/24/97 90.0 11.050 456.06
MLC690 680153350 51,373.40 04/25/97 03/25/17 237.76 05/25/97 85.0 11.900 562.93
MLC690 680153368 21,849.65 05/08/97 04/08/07 118.22 06/08/97 87.3 11.150 304.92
MLC690 680153673 34,955.22 05/01/97 04/01/12 178.00 06/01/97 84.1 9.650 368.65
MLC690 680153921 55,975.40 04/24/97 03/24/12 177.73 06/24/97 74.6 11.750 565.27
MLC690 680154127 14,500.00 05/04/97 04/04/12 178.09 06/04/97 80.0 13.350 186.81
MLC690 680154440 108,313.41 04/24/97 03/24/12 177.73 06/24/97 84.9 12.500 1,156.91
MLC690 680154614 26,974.17 05/09/97 04/09/12 178.26 07/09/97 79.6 10.550 301.51
MLC690 680155066 84,731.86 05/09/97 04/09/12 178.26 06/09/97 50.0 9.500 887.59
MLC690 680155157 24,911.32 04/10/97 03/10/17 237.27 06/10/97 87.6 12.500 284.04
MLC690 680155280 36,908.23 04/14/97 03/14/17 237.40 06/14/97 77.8 12.700 425.60
MLC690 680155553 123,219.15 05/11/97 04/11/27 358.32 06/11/97 85.0 10.300 1,109.03
MLC690 680155728 98,400.00 04/26/97 03/26/12 177.80 05/26/97 80.0 12.990 1,087.73
MLC690 680156163 101,159.97 05/08/97 04/08/17 238.22 06/08/97 87.8 11.550 1,083.25
MLC690 680156361 24,977.77 05/01/97 04/01/17 238.00 06/01/97 88.7 11.550 267.47
MLC690 680156569 16,845.57 04/26/97 03/26/12 177.80 06/26/97 86.9 11.550 197.96
MLC690 680157211 179,888.87 04/27/97 03/27/12 177.83 06/27/97 87.8 11.300 1,755.11
MLC690 680157237 21,249.01 05/07/97 04/07/12 178.19 06/07/97 85.0 12.500 262.53
MLC690 680157328 27,928.69 04/24/97 03/24/12 177.73 05/24/97 70.0 11.500 327.09
MLC690 680157583 130,400.00 05/04/97 04/04/27 358.09 05/04/97 80.0 12.750 1,417.05
MLC690 680157740 40,539.99 05/01/97 04/01/12 178.00 07/01/97 41.0 9.400 423.59
MLC690 680158177 34,887.93 05/01/97 04/01/12 178.00 07/01/97 80.0 12.800 383.89
MLC690 680158268 14,971.00 05/07/97 04/07/12 178.19 06/07/97 87.9 11.800 177.76
MLC690 680159639 14,907.15 05/09/97 04/09/12 178.26 06/09/97 76.0 10.550 166.28
MLC690 680159951 59,609.82 05/08/97 04/08/17 238.22 07/08/97 70.5 9.800 571.08
MLC690 680160009 41,966.19 05/07/97 04/07/27 358.19 06/07/97 70.0 10.500 384.19
MLC690 680160090 19,854.41 05/08/97 04/08/17 238.22 07/08/97 68.5 10.300 197.00
MLC690 680160132 101,116.16 04/28/97 03/28/12 177.86 06/28/97 72.8 9.800 880.08
MLC690 680160215 57,144.14 04/28/97 03/28/12 177.86 06/28/97 70.0 11.250 557.50
MLC690 680160264 38,500.00 05/04/97 04/04/27 358.09 06/04/97 70.0 10.000 337.86
MLC690 680160306 153,917.99 05/01/97 04/01/27 358.00 06/01/97 83.2 10.300 1,385.72
MLC690 680160439 54,786.39 05/08/97 04/08/27 358.22 07/08/97 64.7 10.200 490.81
</TABLE>
<PAGE>
Page 32 6/24/97
ALLIANCE FUNDING COMPANY
A DIVISION OF SUPERIOR BANK FSB
SALE SCHEDULE
1997-2 CLASS 1 - INITIAL POOL OF FIXED RATE MORTGAGES - SETTLEMENT 6/25/97
<TABLE>
<CAPTION>
Principal
Zip Balance at
Sale ID Account Name Address City State Code Origination
- ----------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C>
MLC690 680161312 VAUGHN MARY L 8308 41ST AVENUE NORTH ST PETERSBURG FL 33709 44,890.00
MLC690 680161502 NOURSE MICHAEL L 103 KERRWOOD LANE CARY NC 27513 29,900.00
MLC690 680163334 DELORENZO JOSEPH 18 DEERFIELD LANE MELVILLE NY 11747 30,000.00
MLC690 680163490 ORMSBEE NANCY 2020 BIRCHWOOD LAKES DINGMANS FERRY PA 18328 99,000.00
MLC690 680164001 TRAVERSO MAXIMO JR 240 19 93RD AVENUE BELLEROSE NY 11426 32,000.00
MLC690 680164365 MEGGS DANNY R 21367 BURKHARDT DRIVE PORT CHARLOTTE FL 33952 66,600.00
MLC690 680165040 MCGARITY LINDA LOUISE 1568 SCUFFLEGRIT ROAD MARIETTA GA 30062 24,000.00
MLC690 680165206 MCKINNEY BERYL 137 BAYBERRY DRIVE FRANKLIN TWP NJ 08873 98,800.00
MLC690 680165594 DRESCHER GOETZ 10 RED FOX DRIVE NEW HOPE PA 18938 94,000.00
MLC690 680165859 MCGOLDRICK JAMES 12709 SHELL POINT DRIVE BAYONET POINT FL 34667 12,000.00
MLC690 680166311 QUICK LINDA M 30205 CLEARVIEW DRIVE ZEPHYRHILLS FL 33544 29,250.00
MLC690 680168648 KARCHER RODERICK R 4738 DARTMOUTH AVE N SAINT PETERSBURG FL 33713 37,100.00
MLC690 680170123 SIEMINKEWICZ PAUL R RD 5 BOX 158A LIGONIER PA 15658 107,200.00
MLC690 680173473 HARGROVE GLORIA 1136 YACHTSMAN LANE PUNTA GORDA FL 33983 42,100.00
MLC690 680173499 TREVELYAN RICHARD L 10494 SLEEPY BROOK WAY BOCA RATON FL 33428 82,450.00
------------------------------------- ----------------
143 Sale Total 7,899,556.00
<CAPTION>
Cut-off Date First Original Current Scheduled
Principal Payment Maturity Rem Date LTV Mortgage Payment
Sale ID Account Balance Date Date Term Due Ratio Rate Int & Prin
- --------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
MLC690 680161312 44,686.65 04/27/97 03/27/12 177.83 06/27/97 67.0 13.990 531.53
MLC690 680161502 29,900.00 05/07/97 04/07/12 178.19 06/07/97 84.5 12.100 360.78
MLC690 680163334 29,842.72 05/02/97 04/02/12 178.03 07/02/97 49.9 11.100 342.87
MLC690 680163490 99,000.00 05/04/97 04/04/12 178.09 06/04/97 89.1 11.250 961.55
MLC690 680164001 31,892.43 05/16/97 04/16/12 178.49 06/16/97 85.7 9.900 341.92
MLC690 680164365 66,600.00 05/04/97 04/04/12 178.09 06/04/97 74.0 13.500 762.84
MLC690 680165040 23,948.89 05/08/97 04/08/12 178.22 06/08/97 88.7 12.050 288.81
MLC690 680165206 98,724.78 05/01/97 04/01/12 178.00 06/01/97 79.0 11.650 989.73
MLC690 680165594 94,000.00 05/09/97 04/09/12 178.26 06/09/97 85.0 12.500 1,158.57
MLC690 680165859 12,000.00 05/09/97 04/09/12 178.26 06/09/97 69.9 11.500 140.18
MLC690 680166311 29,250.00 05/04/97 04/04/12 178.09 06/04/97 75.0 11.750 346.36
MLC690 680168648 37,100.00 05/14/97 04/14/12 178.42 06/14/97 79.9 13.950 492.83
MLC690 680170123 107,178.60 12/01/96 11/01/11 173.00 06/01/97 80.0 10.800 1,004.72
MLC690 680173473 42,005.59 05/16/97 04/16/17 238.49 05/16/97 84.9 12.650 482.77
MLC690 680173499 82,379.57 05/15/97 04/15/27 358.45 06/15/97 85.8 9.600 699.31
------------------------- ------ -------------------------
143 7,879,959.77 221.94 79.3 11.466 83,446.12
</TABLE>
<PAGE>
Page 33 6/24/97
ALLIANCE FUNDING COMPANY
A DIVISION OF SUPERIOR BANK FSB
SALE SCHEDULE
1997-2 CLASS 1 - INITIAL POOL OF FIXED RATE MORTGAGES - SETTLEMENT 6/25/97
<TABLE>
<CAPTION>
Principal
Zip Balance at
Sale ID Account Name Address City State Code Origination
- ----------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C>
MLC692 680008760 GISMONDI SUSAN B 286 BARRY SCOTT DRIVE FAIRFIELD CT 06432 59,500.00
MLC692 680012994 BATTISTE THOMAS 341 UNION CITY ROAD NAUGATUCK CT 06770 41,000.00
MLC692 680018637 NEFF WALTER 162 SEWARD ST CORTLANDT NY 10511 31,100.00
MLC692 680026283 SCHNELL ROBERT 964 WEST FOURTH STREET PLAINFIELD NJ 07063 49,699.00
MLC692 680026671 OSULLIVAN DENNIS 170 NORWICH ROAD SALEM CT 06420 102,000.00
MLC692 680032414 WILSON CLARENCE L JR 1040 RANDOLPH AVE RAHWAY NJ 07065 48,000.00
MLC692 680037991 GIOVINCO MARIA T 5202 CAREY RD TAMPA FL 33624 17,000.00
MLC692 680047339 PHANISHNARAI MOTIE 93-16 123RD STREET JAMAICA NY 11419 30,000.00
MLC692 680059854 FANGMAN EDWARD J 4309 HOFFMANVILLE RD MILLERS MD 21107 49,450.00
MLC692 680070752 DEE ARTHUR 56 WATERS STREET DANVERS MA 01823 25,000.00
MLC692 680087608 MELLON KENNETH DALE 2135 ANACONDA LANE MAIDEN NC 28650 54,400.00
MLC692 680095809 HINKLE GEOFFREY 307 SOUTH 17 1/2 ST READING PA 19602 36,000.00
MLC692 680100377 HINES JENETIA E 2086 PARK LANE WHITE CLOUDS MI 49349 35,200.00
MLC692 680101318 EWART JAMES N JR 34458 CALLE CARMELITA CAPISTRANO BEACH CA 92624 29,000.00
MLC692 680101607 HALL TERRENCE 522 EAST 46TH STREET BROOKLYN NY 11203 29,400.00
MLC692 680102191 AUGUSTYN WALTER H JR 35 WILTAN DRIVE MONROE CT 06468 20,000.00
MLC692 680110012 EDWARDS PAUL C JR 402 PENNSY RD NEW PROVIDENCE PA 17560 71,300.00
MLC692 680110756 PUGLIA THOMAS 532 NAUGHTON AVE STATEN ISLAND NY 10305 30,000.00
MLC692 680116266 MARION FELICIA J 6102 NORTH 4TH SREET PHILADELPHIA PA 19120 47,920.00
MLC692 680118296 KEELEN CHRISTOPHE E 45 E MOUNT AVE ATLANTIC HIGHLANDS NJ 07716 21,000.00
MLC692 680123056 LEWIS MARK 116 NADIA CT PORT JEFFERSON NY 11777 102,950.00
MLC692 680125200 GREENFIELD MARTIN 5 EUSTIS ST DANBURY CT 06811 41,000.00
MLC692 680125960 MCCULLOUGH MICHAEL J 172 BRIDGE ST MORTON PA 19070 15,000.00
MLC692 680130143 ANDREWS EARL R 34212 RUFFING ROAD DADE CITY FL 33525 19,146.00
MLC692 680130424 VIBBERT SHELTON C 3526 LIBBY LOOP TAMPA FL 33619 35,700.00
MLC692 680130523 KRUGER GERARD 921 WEST BARTLETT ROAD MIDDLE ISLAND NY 11953 99,000.00
MLC692 680133527 GOFF WALTER 107 AMHURST DRIVE GOLDSBORO NC 27534 15,400.00
MLC692 680133634 SEIGLER GROVER M ROUTE 1 BOX 950 ROUND O SC 29474 30,400.00
MLC692 680134269 MORGAN HAROLD 274 E 203RD STREET BRONX NY 10458 42,350.00
MLC692 680134715 SERGEANT ALFRED 1597 LINCOLN PL BROOKLYN NY 11233 100,800.00
MLC692 680135720 DUNPHY ROBERT B JR 124 CAPTAIN PIERCE RD SCITUATE MA 02066 35,000.00
MLC692 680136736 MURPHY MELANIE 29 TIMBERBROOK RD FORT SALONGA NY 11768 100,000.00
MLC692 680138179 ORTA DANIEL A 17506 DRIFTWOOD LANE LUTZ FL 33549 35,200.00
MLC692 680139110 BARTON JERRY L 1660 BRANDON HALL DRIVE DUNWOODY GA 30350 145,000.00
MLC692 680140050 WENTZ LEO C 30 SPOTTED DEER DRIVE TALLAHASSEE FL 32304 21,000.00
MLC692 680142304 KO JUNG SOOK 431 HILLSIDE AVE PALISADES PARK NJ 07650 25,000.00
MLC692 680143096 WITMER SCOTT E 502 WEST MARKET STREET WILLIAMSTOWN PA 17098 75,000.00
MLC692 680143468 POLICELLA ANTHONY 71 GARBARINO AVE WANAQUE NJ 07465 161,500.00
MLC692 680143534 SPINELLI FRANK 8821 BEDELL LN BROOKLYN NY 11236 47,000.00
MLC692 680144052 BOYKIN ROOSEVELT 211 CENTER ST LUMBERTON NC 28358 46,000.00
MLC692 680145315 SMITH EDWARD L 205 SERENADE CT MILLERSVILLE MD 21108 54,000.00
MLC692 680145794 WILLIAMS BERNARD L 2809 CHELSEA TERRACE BALTIMORE MD 21216 42,000.00
MLC692 680147139 LAWRENCE GUY A 34 BROADWAY ROCKVILLE CENTRE NY 11570 88,200.00
MLC692 680147972 VALENTIN NICHOLAS JR 2060 HERMANY AVE BRONX NY 10473 95,000.00
MLC692 680148483 MCLEAN STERLING O 607 TILLMAN STREET HILLSIDE NJ 07205 68,200.00
MLC692 680148764 CONWAY JOHN F 59 PHYLDAN RD EAST HANOVER NJ 07936 27,000.00
MLC692 680148962 JONES DARREN 53 STAFFORD ROAD MANSFIELD CT 06250 94,320.00
MLC692 680149648 BRUNSON CLAUDETTE 2036 E 54TH ST BROOKLYN NY 11234 222,700.00
MLC692 680149986 BIDWELL KATHY A 315 LAKE SHORE DRIVE LAKE HIAWATHA NJ 07034 113,500.00
MLC692 680150695 SPANO ROBERT F RD 1 BOX 1613 COOLBAUGH RO E STROUDSBURG PA 18330 130,000.00
MLC692 680151404 TERWILLIGER SHIRLEY M 170 PASCACK ROAD HILLSDALE NJ 07642 130,000.00
MLC692 680152691 NIHAS ARGIRIOS 3947 48 TH ST SUNNYSIDE NY 11104 69,000.00
MLC692 680152923 DONES DAVID 59 POCONO FRST GOULDSBORO PA 18424 15,050.00
MLC692 680153210 LUCERA ANTHONY O 48 WEDGEWOOD DRIVE DANBURY CT 06811 75,000.00
MLC692 680155017 SANTANA JULIO C 28 HAWTHORNE ST PROVIDENCE RI 02907 72,250.00
MLC692 680155835 SMITH JAY JR 5360 VALLEY DRIVE CUMMING GA 30131 47,600.00
MLC692 680156213 FLORES HORATIO P 4377 HUNTINGTON FOREST BLV JACKSONVILLE FL 32257 43,100.00
MLC692 680156833 GANGI CLAIRE 1 QUAIL RUN HAMPTON BAYS NY 11946 213,600.00
MLC692 680157245 BARRECA KATHY 215 S MARKET ST GIRARD OH 44420 45,500.00
MLC692 680157724 GUIBAS JOHN C 164 08 85TH AVENUE JAMAICA NY 11432 38,000.00
MLC692 680157799 KOTHMAYER CAROLYN L 4677 THREE SPRINGS COURT MARIETTA GA 30062 26,800.00
MLC692 680157930 WIGLEY WILLIAM E 2641 WHITEHAVEN DR MARIETTA GA 30064 82,800.00
MLC692 680158391 SWEIGART KAREN A 100 CHAPEL VIEW DRIVE REINHOLDS PA 17569 50,000.00
MLC692 680158441 ROBENHYMER KEVIN 13 FENWOOD AVENUE SMITHFIELD RI 02917 126,000.00
<CAPTION>
Cut-off Date First Original Current Scheduled
Principal Payment Maturity Rem Date LTV Mortgage Payment
Sale ID Account Balance Date Date Term Due Ratio Rate Int & Prin
- -------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
MLC692 680008760 59,433.91 11/17/96 10/17/11 172.54 06/17/97 85.0 12.500 635.02
MLC692 680012994 40,327.61 10/30/96 09/30/16 231.98 05/30/97 84.8 11.500 437.24
MLC692 680018637 31,076.41 12/01/96 11/01/11 173.00 06/01/97 69.9 12.100 322.29
MLC692 680026283 49,602.80 11/17/96 10/17/11 172.54 06/17/97 70.9 10.400 450.90
MLC692 680026671 101,475.32 12/01/96 11/01/11 173.00 07/01/97 85.0 13.200 1,144.29
MLC692 680032414 47,708.51 01/16/97 12/16/11 174.51 05/16/97 80.0 12.600 516.01
MLC692 680037991 16,917.30 12/20/96 11/20/16 233.65 06/20/97 89.5 11.550 181.88
MLC692 680047339 29,300.09 01/17/97 12/17/06 114.54 06/17/97 87.9 11.600 423.50
MLC692 680059854 48,342.64 12/27/96 11/27/06 113.88 05/27/97 89.7 11.350 691.01
MLC692 680070752 24,691.00 01/26/97 12/26/11 174.84 06/26/97 83.8 12.750 312.21
MLC692 680087608 54,378.76 04/14/97 03/14/12 177.40 06/14/97 54.9 14.000 644.57
MLC692 680095809 36,000.00 04/03/97 03/03/12 177.04 05/03/97 80.0 13.000 398.23
MLC692 680100377 35,116.99 05/14/97 04/14/12 178.42 06/14/97 74.1 12.750 439.59
MLC692 680101318 29,000.00 05/16/97 04/16/17 238.49 06/16/97 77.4 13.100 341.82
MLC692 680101607 29,400.00 05/14/97 04/14/12 178.42 05/14/97 89.9 11.600 293.39
MLC692 680102191 19,993.95 03/26/97 02/26/12 176.88 05/26/97 89.0 11.750 201.88
MLC692 680110012 71,300.00 04/05/97 03/05/12 177.11 06/05/97 81.9 10.600 657.55
MLC692 680110756 29,904.94 04/19/97 03/19/12 177.57 06/19/97 51.1 11.600 352.37
MLC692 680116266 47,915.32 04/20/97 03/20/12 177.60 06/20/97 80.0 12.600 515.15
MLC692 680118296 20,722.57 03/26/97 02/26/12 176.88 06/26/97 90.0 12.600 260.20
MLC692 680123056 102,534.94 04/21/97 03/21/12 177.63 06/21/97 89.9 11.800 1,222.36
MLC692 680125200 41,000.00 04/17/97 03/17/12 177.50 05/17/97 89.9 12.650 509.34
MLC692 680125960 15,000.00 04/25/97 03/25/12 177.76 05/25/97 66.8 13.990 199.66
MLC692 680130143 19,146.00 05/08/97 04/08/12 178.22 05/08/97 84.9 12.500 235.98
MLC692 680130424 35,685.17 05/16/97 04/16/27 358.49 06/16/97 85.0 12.150 371.34
MLC692 680130523 98,892.70 05/17/97 04/17/12 178.52 06/17/97 90.0 11.100 950.29
MLC692 680133527 15,325.43 05/04/97 04/04/12 178.09 07/04/97 79.9 13.750 202.51
MLC692 680133634 30,400.00 05/15/97 04/15/12 178.45 05/15/97 80.0 11.750 359.98
MLC692 680134269 42,263.85 05/23/97 04/23/12 178.72 06/23/97 83.9 12.600 524.73
MLC692 680134715 100,569.62 05/14/97 04/14/12 178.42 06/14/97 60.0 10.950 956.14
MLC692 680135720 35,000.00 05/15/97 04/15/12 178.45 06/15/97 71.6 13.750 407.79
MLC692 680136736 100,000.00 05/14/97 04/14/17 238.42 05/14/97 89.7 11.700 1,080.24
MLC692 680138179 35,116.93 05/15/97 04/15/12 178.45 06/15/97 80.0 11.300 406.74
MLC692 680139110 145,000.00 05/18/97 04/18/12 178.55 05/18/97 84.8 10.850 1,634.43
MLC692 680140050 20,941.66 05/09/97 04/09/12 178.26 06/09/97 70.0 12.150 254.07
MLC692 680142304 25,000.00 05/11/97 04/11/12 178.32 06/11/97 84.6 13.700 290.29
MLC692 680143096 75,000.00 05/21/97 04/21/17 238.65 05/21/97 87.2 9.400 694.21
MLC692 680143468 160,562.12 04/21/97 03/21/12 177.63 06/21/97 85.0 11.500 1,599.32
MLC692 680143534 46,611.42 04/21/97 03/21/07 117.63 06/21/97 83.1 13.490 715.41
MLC692 680144052 45,895.48 05/08/97 04/08/12 178.22 06/08/97 87.6 10.650 512.77
MLC692 680145315 53,923.15 05/14/97 04/14/12 178.42 06/14/97 84.8 12.250 656.80
MLC692 680145794 41,372.13 05/22/97 04/22/12 178.68 07/22/97 56.7 9.150 429.75
MLC692 680147139 87,723.05 05/23/97 04/23/12 178.72 06/23/97 81.4 11.800 1,047.23
MLC692 680147972 94,705.04 04/26/97 03/26/12 177.80 06/26/97 57.5 12.450 1,167.81
MLC692 680148483 68,037.71 05/28/97 04/28/12 178.88 06/28/97 75.7 10.150 739.15
MLC692 680148764 26,992.91 05/01/97 04/01/12 178.00 06/01/97 89.6 12.750 337.19
MLC692 680148962 94,217.80 05/07/97 04/07/27 358.19 06/07/97 80.0 12.500 1,006.64
MLC692 680149648 222,700.00 05/11/97 04/11/27 358.32 06/11/97 85.0 13.100 2,480.92
MLC692 680149986 113,500.00 04/21/97 03/21/12 177.63 06/21/97 85.9 11.950 1,163.11
MLC692 680150695 129,533.77 05/11/97 04/11/12 178.32 06/11/97 55.7 10.750 1,457.23
MLC692 680151404 129,590.31 04/25/97 03/25/12 177.76 06/25/97 50.0 11.750 1,539.37
MLC692 680152691 68,738.98 05/11/97 04/11/12 178.32 06/11/97 84.8 11.990 827.67
MLC692 680152923 14,908.95 05/14/97 04/14/12 178.42 07/14/97 84.6 12.500 160.62
MLC692 680153210 74,999.99 04/19/97 03/19/12 177.57 06/19/97 81.2 12.500 800.44
MLC692 680155017 72,250.00 05/04/97 04/04/12 178.09 06/04/97 85.0 12.000 743.17
MLC692 680155835 47,548.36 05/09/97 04/09/12 178.26 06/09/97 70.0 11.000 453.31
MLC692 680156213 43,100.00 05/23/97 04/23/12 178.72 05/23/97 84.0 12.400 528.42
MLC692 680156833 213,600.00 04/21/97 03/21/27 357.63 06/21/97 80.0 10.950 2,026.10
MLC692 680157245 45,500.00 05/14/97 04/14/17 238.42 05/14/97 70.0 11.990 500.68
MLC692 680157724 38,000.00 05/01/97 04/01/12 178.00 06/01/97 74.0 11.250 437.89
MLC692 680157799 26,289.70 04/28/97 03/28/12 177.86 06/28/97 89.9 12.750 334.69
MLC692 680157930 82,291.28 05/02/97 04/02/12 178.03 07/02/97 90.0 11.050 943.70
MLC692 680158391 49,974.32 06/01/97 05/01/12 179.00 07/01/97 69.2 10.550 459.24
MLC692 680158441 126,000.00 05/18/97 04/18/12 178.55 06/18/97 90.0 11.300 1,228.58
</TABLE>
<PAGE>
Page 34 6/24/97
ALLIANCE FUNDING COMPANY
A DIVISION OF SUPERIOR BANK FSB
SALE SCHEDULE
1997-2 CLASS 1 - INITIAL POOL OF FIXED RATE MORTGAGES - SETTLEMENT 6/25/97
<TABLE>
<CAPTION>
Principal
Zip Balance at
Sale ID Account Name Address City State Code Origination
- ----------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C>
MLC692 680159068 KERN JOHN E 920 BURNING TREE CT UNIONTOWN MD 21158 67,000.00
MLC692 680159076 WROBEL ALAN 237 BALL PARK AVENUE SEFFNER FL 33584 25,506.00
MLC692 680159589 JEROME GARY S 2618 N DUNDEE STREET TAMPA FL 33629 33,200.00
MLC692 680160520 ETSELL MELVIN JR 5 SOUTH ADAMS AVENUE MARGATE NJ 08402 50,000.00
MLC692 680160561 LONG JAMES T. 313 SMITH DRIVE DURHAM NC 27712 26,600.00
MLC692 680160835 FERMO AURORA V. 4037 MENLO WAY ATLANTA GA 30340 26,000.00
MLC692 680161544 KOCH THOMAS A 3440 ENTERPRISE ROAD EAST SAFETY HARBOR FL 34695 193,500.00
MLC692 680161650 ROWELL DOUGLAS A 2308 LUCE STREET HARRISBURG PA 17101 17,500.00
MLC692 680161700 GEORGE DONALD M JR 25 KENNEDY DR MERIDEN CT 06450 50,482.00
MLC692 680161965 WALKER PAULINE 110 03 194TH STREET SAINT ALBANS NY 11412 142,800.00
MLC692 680162310 KNICKERBOCKE CHESTER E 2399 EASTWOOD DRIVE CLEARWATER FL 34625 94,400.00
MLC692 680162567 LALLIER JEANGUY JR 45 WORTHINGTON ROAD STAFFORD SPRINGS CT 06076 18,800.00
MLC692 680162633 GRISWOLD MARIA TERESA 11308 ORLEANS WAY KENSINGTON MD 20895 33,500.00
MLC692 680162716 LEVENS JOSEPH L 5913 SUSSEX DRIVE TAMPA FL 33615 36,000.00
MLC692 680162724 MASCIARELLI ROBERT F 5817 OLAND DRIVE NEW CARROLLTON MD 20784 69,500.00
MLC692 680164480 LAMOREAUX RANDY S BOX 43 SR 3023 DIMOCK TOWN DIMOCK PA 18816 81,000.00
MLC692 680164746 QUINET JAMES W 2545 SOUTH AMERICAN STREET PHILADELPHIA PA 19148 36,000.00
MLC692 680165297 MCPHATTER WILBUR ARNOLD 4524 BARNARDS LANDINGS ROA WILMINGTON NC 28412 30,900.00
MLC692 680166212 HENNELLY MICHAEL J III 2168 UNRUH AVENUE PHILADELPHIA PA 19149 11,000.00
MLC692 680166360 SHUSTERMAN ZVI 7 SUMMERWOOD ROAD HOLBROOK NY 11741 35,700.00
MLC692 680166691 GALASSO WILLIAM J 52 BANKSVILLE RD ARMONK NY 10504 60,000.00
MLC692 680166782 ANDERSON-KAL RUTH 1292 BELGRAVE CRESCENT YARDLEY PA 19067 17,000.00
MLC692 680167376 SNAVELY MURZA K 2452 DUKE STREET HARRISBURG PA 17104 48,000.00
MLC692 680168424 DAVIS ROY V 397 TROUT RD BARNESBORO PA 15714 52,120.00
MLC692 680168747 SNEDEKER JAMES D 532 ORADELL AVENUE ORADELL NJ 07049 386,400.00
MLC692 680168911 FISH ROBERT P 9640 HORIZON DR SPRING HILL FL 34608 23,150.00
MLC692 680169380 WARREN WILLIE W 32 MADISON STREET SOUTH FARMINGDALE NY 11735 96,000.00
MLC692 680169521 GUINN WILLIAM H JR 104 HERTY DR STATESBORO GA 30458 44,100.00
MLC692 680169539 MOORE RICHARD F. 55 HANOVER ST HANOVER MA 02339 30,800.00
MLC692 680169547 GUINN WILLIAM H JR 4118 SHADY DRIVE LILBURN GA 30247 127,500.00
MLC692 680170487 ARRIGO JOHN F 8288 ALASKA AVENUE SE CALEDONIA MI 49316 32,000.00
MLC692 680170867 ORINGER MARC 1109 E 105TH ST BROOKLYN NY 11236 111,800.00
MLC692 680172228 CLELAND PATRICK D 5411 SW 24TH AVE CAPE CORAL FL 33914 23,000.00
MLC692 680172525 GILBERT GERALDINE 9 ONEIDA STREET GLENS FALLS NY 12801 35,000.00
MLC692 680173168 FILIPELLI, JOHN J. JR 1390 86TH TERRACE NORTH ST. PETERSBURG FL 33702 17,000.00
MLC692 680173374 DOORN TAMMY R 1417 BASS BOULEVARD DUNEDIN FL 34698 18,000.00
MLC692 680175668 WILLIAMS RAYMOND CURTIS J 6636 MANGROVE DRIVE ZEPHYRHILLS FL 33544 37,450.00
MLC692 680175825 SULLIVAN GARY C 350 SOUTH 7TH STREET STEELTON PA 17113 15,000.00
MLC692 680176344 ZENO MICHAEL 441 NORTH GEORGES HILL RD SOUTHBURY CT 06488 43,500.00
MLC692 680179231 MILLARD RAYMOND R SR 83 HOLIDAY DR MILLSBORO DE 19966 41,200.00
MLC692 680180619 ROMERO FELIX 64 WYANDOTTE ST SELDEN NY 11784 23,800.00
MLC692 680181591 EDGE DONALD G 5417 GRASSHOPPER RD RALEIGH NC 27610 25,000.00
MLC692 680182342 MILLER ERIC 1621 FILLMORE STREET PHILADELPHIA PA 19124 24,500.00
MLC692 680188315 FISHER RICHARD J 2825 NOBLE FIR COURT WOODBRIDGE VA 22192 40,600.00
MLC692 680189735 SLAUGH JEAN M 230 WEST GOLDEN GATE BOULE NAPLES FL 34120 45,000.00
------------------------------------- ----------------
109 Sale Total 6,486,343.00
252 Total with Merrill Lynch 14,385,899.00
<CAPTION>
Cut-off Date First Original Current Scheduled
Principal Payment Maturity Rem Date LTV Mortgage Payment
Sale ID Account Balance Date Date Term Due Ratio Rate Int & Prin
- -------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
MLC692 680159068 67,000.00 05/04/97 04/04/12 178.09 06/04/97 89.9 11.800 678.87
MLC692 680159076 25,451.35 05/18/97 04/18/17 238.55 06/18/97 89.7 11.800 277.29
MLC692 680159589 33,200.00 05/21/97 04/21/07 118.65 05/21/97 87.9 11.550 467.73
MLC692 680160520 49,962.08 05/10/97 04/10/12 178.29 06/10/97 44.6 11.750 504.70
MLC692 680160561 26,474.08 05/21/97 04/21/07 118.65 06/21/97 89.9 11.000 366.41
MLC692 680160835 26,000.00 05/01/97 04/01/12 178.00 06/01/97 78.8 14.150 348.88
MLC692 680161544 193,500.00 05/18/97 04/18/27 358.55 06/18/97 90.0 10.750 1,806.29
MLC692 680161650 17,453.51 05/01/97 04/01/12 178.00 06/01/97 64.8 9.400 181.68
MLC692 680161700 50,482.00 05/01/97 04/01/12 178.00 06/01/97 85.9 12.990 558.04
MLC692 680161965 142,694.67 05/14/97 04/14/27 358.42 06/14/97 85.0 12.700 1,546.24
MLC692 680162310 94,400.00 05/16/97 04/16/12 178.49 06/16/97 80.0 10.750 881.21
MLC692 680162567 18,751.08 05/08/97 04/08/12 178.22 06/08/97 79.8 13.750 247.22
MLC692 680162633 33,500.00 05/09/97 04/09/12 178.26 06/09/97 67.1 11.250 325.37
MLC692 680162716 35,933.81 05/15/97 04/15/17 238.45 06/15/97 87.8 11.550 385.16
MLC692 680162724 69,474.67 05/23/97 04/23/27 358.72 06/23/97 53.8 10.900 656.62
MLC692 680164480 80,851.08 05/14/97 04/14/17 238.42 06/14/97 90.0 11.550 866.60
MLC692 680164746 35,959.26 05/18/97 04/18/27 358.55 06/18/97 80.0 11.750 363.39
MLC692 680165297 30,827.65 05/25/97 04/25/27 358.78 06/25/97 89.9 11.500 306.00
MLC692 680166212 10,944.89 05/22/97 04/22/12 178.68 06/22/97 86.8 12.050 132.37
MLC692 680166360 35,521.39 05/21/97 04/21/07 118.65 06/21/97 85.0 12.750 527.79
MLC692 680166691 60,000.00 05/21/97 04/21/12 178.65 05/21/97 68.1 10.800 562.35
MLC692 680166782 16,999.35 05/18/97 04/18/12 178.55 06/18/97 84.9 12.750 184.74
MLC692 680167376 47,915.12 05/25/97 04/25/27 358.78 06/25/97 80.0 12.500 512.28
MLC692 680168424 52,120.00 05/21/97 04/21/12 178.65 06/21/97 86.9 11.400 512.17
MLC692 680168747 386,261.58 05/18/97 04/18/12 178.55 06/18/97 80.0 9.350 3,206.86
MLC692 680168911 23,100.73 05/16/97 04/16/17 238.49 06/16/97 84.8 12.150 257.33
MLC692 680169380 95,606.18 05/18/97 04/18/27 358.55 06/18/97 80.0 12.250 1,005.98
MLC692 680169521 44,100.00 05/11/97 04/11/12 178.32 05/11/97 70.0 11.450 435.04
MLC692 680169539 30,800.00 05/22/97 04/22/12 178.68 05/22/97 89.9 12.750 334.70
MLC692 680169547 127,500.00 05/16/97 04/16/12 178.49 05/16/97 85.0 13.200 1,430.36
MLC692 680170487 31,900.81 05/18/97 04/18/17 238.55 06/18/97 87.7 11.400 339.06
MLC692 680170867 111,800.00 05/15/97 04/15/27 358.45 06/15/97 65.0 12.450 1,188.86
MLC692 680172228 22,951.01 05/09/97 04/09/12 178.26 06/09/97 90.0 12.050 276.78
MLC692 680172525 35,000.00 05/24/97 04/24/12 178.75 05/24/97 68.7 11.000 397.81
MLC692 680173168 16,995.71 05/21/97 04/21/12 178.65 06/21/97 86.0 11.750 201.30
MLC692 680173374 17,968.36 05/16/97 04/16/17 238.49 06/16/97 84.9 12.750 207.69
MLC692 680175668 37,252.00 05/21/97 04/21/12 178.65 06/21/97 70.0 14.250 505.04
MLC692 680175825 14,873.22 05/23/97 04/23/17 238.72 06/23/97 89.9 12.300 168.31
MLC692 680176344 43,452.99 05/14/97 04/14/12 178.42 06/14/97 89.9 11.990 447.11
MLC692 680179231 41,048.73 05/23/97 04/23/07 118.72 06/23/97 64.3 10.650 559.40
MLC692 680180619 23,735.48 05/18/97 04/18/12 178.55 06/18/97 80.3 14.500 291.44
MLC692 680181591 24,566.29 05/18/97 04/18/07 118.55 07/18/97 16.1 9.800 327.61
MLC692 680182342 24,500.00 06/01/97 05/01/12 179.00 06/01/97 70.0 11.250 237.96
MLC692 680188315 40,600.00 05/28/97 04/28/12 178.88 05/28/97 82.5 11.500 474.28
MLC692 680189735 44,888.93 05/25/97 04/25/17 238.78 06/25/97 89.9 11.700 486.11
------------------------ ------ --------------------------
109 6,472,368.90 216.67 79.4 11.664 69,794.84
252 14,352,328.67 219.57 79.3 11.555 153,240.96
</TABLE>
<PAGE>
Page 35 6/24/97
ALLIANCE FUNDING COMPANY
A DIVISION OF SUPERIOR BANK FSB
SALE SCHEDULE
1997-2 CLASS 1 - INITIAL POOL OF FIXED RATE MORTGAGES - SETTLEMENT 6/25/97
<TABLE>
<CAPTION>
Principal
Zip Balance at
Sale ID Account Name Address City State Code Origination
- ----------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C>
CPIFR 31674 ANDRUCCI VIOLET 920 JONATHAN CT #305 PROSPECT HE IL 60070 39,000.00
CPIFR 43257 BECVAR GEORGE 1269 LAKE HOLIDAY DR SOMONAUK IL 60552 40,000.00
CPIFR 45948 MURPHY DURWARD L 113 ELM STREET SANDWICH IL 60548 40,000.00
CPIFR 46037 NELLIS/LOZAN JOHN C 3624 S MAPLE AV BERWYN IL 60402 89,165.00
CPIFR 46086 ODONNELL KATHLEEN 6148 KNOLLWOOD RD WILLOWBROOK IL 60514 44,000.00
CPIFR 46094 GARCIA MARY T 1021 OLD ROUTE 34 SANDWICH IL 60548 48,000.00
CPIFR 46136 TRESZKA JAMES T 6818 JOLIET RD INDIAN HEAD IL 60525 54,600.00
CPIFR 46250 CORTINO DEBORAH M 6184 PINEWOOD CT 301 WILLOWBROOK IL 60514 40,000.00
CPIFR 46276 KUNZ HAROLD R 6759 W 64 ST #N-13 CHICAGO IL 60638 35,000.00
CPIFR 46441 MEYER LISA J 1944 W ALBION AVE #2 CHICAGO IL 60626 35,200.00
CPIFR 46557 BOESEN MARJORIE I 1518 PLYMOUTH PL #3 GLENVIEW IL 60025 43,600.00
CPIFR 46599 BRUBAKER FREDERICK C 4104 JOHNSON AVE WESTERN SPR IL 60558 90,000.00
CPIFR 46821 ALLEN CHESTER M 7755 S KINGSTON AVE #2 CHICAGO IL 60649 30,800.00
CPIFR 47001 WELLS RAND 1461 PLYMOUTH PL #64 GLENVIEW IL 60025 50,000.00
CPIFR 47217 CAMACHO GERARDO 4731 ST JOSEPH CREEK LISLE IL 60532 36,400.00
CPIFR 47290 FREGEAU WAYNE E 18270 YUMA ISLAND TR CULVER IN 46511 35,000.00
CPIFR 47480 HANNEMANN DAVID A 3817 N WASHINGTON ST WESTMONT IL 60559 115,000.00
CPIFR 47654 ZAKRZEWSKI JAMES M 3618 N NEW ENGLAND AVE CHICAGO IL 60640 88,000.00
CPIFR 47803 GRIEF DALTON P 190 WICKHAM AVE BLOOMINGDAL IL 60108 108,400.00
CPIFR 47944 FAJARDO ABEL 16472 S TERRY LANE OAK FOREST IL 60452 87,000.00
CPIFR 48041 PODLASEK LYNN M 7310 S BLACKSTONE AVE JUSTICE IL 60458 20,000.00
CPIFR 48181 LAMBERT BARRY C 5338 S 73RD CT SUMMIT IL 60501 63,000.00
CPIFR 48272 BUKOWSKI STEVEN E 4606 JOLIET AVE LYONS IL 60534 62,000.00
CPIFR 48439 DUFFIN BRYAN R 4023 S HARLEM STICKNEY IL 60402 26,000.00
CPIFR 48447 DOWNEY PATRICIA C 2318 S 58TH AVE CICERO IL 60650 29,000.00
CPIFR 48454 BISHOP JACQUELINE M 6495 BANNISTER CT LISLE IL 60532 223,900.00
CPIFR 48561 SAMA VINCENT 506 N BONNIE BRAE RIVER FORES IL 60305 32,000.00
CPIFR 48603 ALI SYED M 18W234 BUCKINGHAM LANE VILLA PARK IL 60181 69,000.00
CPIFR 48645 BELL WANDA R 5445 N SHERIDAN RD CHICAGO IL 60640 24,300.00
CPIFR 48694 HEDDERMAN JAMES E JR 412 S LA GRANGE RD LA GRANGE IL 60525 122,550.00
CPIFR 48819 GIUFFRE STEVEN E 1006 PERSHING AVE WHEATON IL 60187 100,700.00
CPIFR 48926 BURKLOW JENNIFER 621 SHERWOOD RD LA GRANGE P IL 60525 85,500.00
CPIFR 49171 VELASCO DOMINGO C 1510 TOMLIN DR BURR RIDGE IL 60521 230,000.00
CPIFR 49221 KAVALES WILLIAM M 8515 S 79TH CT JUSTICE IL 60458 50,000.00
CPIFR 49387 CERINO RAYMUNDO J 1808 S LOMBARD AVE BERWYN IL 60402 68,000.00
CPIFR 49551 FABBRINI JOHN J 611 BELOIT AVE FOREST PARK IL 60130 54,450.00
CPIFR 49577 PRYSOK STANLEY J 6053 W 64TH ST CHICAGO IL 60638 69,000.00
CPIFR 49585 FORSBERG RONALD L 1608 BURNING TRAIL WHEATON IL 60187 114,000.00
CPIFR 49619 JANKOWSKI CHRISTINE R 1S531 MACARTHUR DR OAKBROOK TE IL 60181 135,000.00
CPIFR 49684 KEANE BRENDAN J 43 LOMBARD CIRCLE LOMBARD IL 60148 100,800.00
CPIFR 49825 WATKINS HERMAN M 5709 ROSE CT BERKELEY IL 60163 135,600.00
CPIFR 49882 ROGERS DONALD W 527&29 N YALE AVE VILLA PARK IL 60181 111,300.00
CPIFR 50187 KING BRIAN C 3943 CENTER AVE LYONS IL 60534 76,500.00
CPIFR 50385 ANDERSON RICHARD P 515 RODNEY ST LOCKPORT IL 60441 137,565.00
CPIFR 50567 DUDA KIRK R 4432 S KENILWORTH AVE STICKNEY IL 60402 72,000.00
CPIFR 51045 JOHNSON BARBARA J 1007 S 8TH AVE LA GRANGE IL 60525 39,500.00
CPIFR 51177 HILL BETTY A 11 WINTHROP COURT DOWNERS GRO IL 60516 68,400.00
CPIFR 51185 HUBBARD LEWIS R 5500 HILLCREST LN LISLE IL 60532 32,950.00
CPIFR 51193 BURKHART JOHN 335 E MADISON AVE WHEATON IL 60187 85,600.00
CPIFR 51292 MAX JEFFREY A 400 W BRIAR PL C1 CHICAGO IL 60657 150,000.00
CPIFR 51433 TVRDIK THOMAS J 326 W CROFOOT ST SANDWICH IL 60548 35,700.00
CPIFR 51615 GAYDUSEK JEROME N 6139 W 35TH STREET CICERO IL 60650 55,000.00
CPIFR 51649 FLYNN JAMES D 12 PRINCESS CT WESTCHESTER IL 60154 134,200.00
CPIFR 51722 LUZAR KAROLYN P 100 E WALTON ST CHICAGO IL 60611 40,000.00
CPIFR 51805 JACHIMOWSKI EDMUND P 101 S GRANT ST WESTMONT IL 60559 64,000.00
CPIFR 51821 ANDERSON GARY L 305 S GREEN STREET SOMONAUK IL 60552 24,000.00
CPIFR 51904 STRUCK JOSEPH A JR 14695 N CENTER AVE PLANO IL 60545 53,000.00
CPIFR 51920 FLYNN DANIEL R 10825 CANTIGNY RD COUNTRYSIDE IL 60525 80,000.00
CPIFR 52043 WESTBROOK JEFFREY M 407 W CHEROKEE ST SHABBONA IL 60550 44,600.00
CPIFR 52084 SESTAK GLENN L 933 SHERWOOD DR LA GRANGE IL 60525 95,000.00
CPIFR 52118 DIETE GUSTAVE A 8970 PARKSIDE DR #113 DES PLAINES IL 60016 25,000.00
CPIFR 52159 MANDELL STEVEN J 1518 S 60TH COURT CICERO IL 60650 95,500.00
CPIFR 52191 ALBERICO DONALD A 5244 LAWN AVE WESTERN SPR IL 60558 150,000.00
CPIFR 52225 ROGERS MARK W 4246 S SUNNYSIDE AVE BROOKFIELD IL 60513 107,000.00
<CAPTION>
Cut-off Date First Original Current Scheduled
Principal Payment Maturity Rem Date LTV Mortgage Payment
Sale ID Account Balance Date Date Term Due Ratio Rate Int & Prin
- -------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
CPIFR 31674 36,470.50 03/01/89 02/01/19 260.00 06/01/97 75.0 10.250 349.48
CPIFR 43257 26,894.39 12/01/89 11/01/04 89.00 06/01/97 24.2 9.625 420.72
CPIFR 45948 23,944.06 01/01/90 12/01/04 90.00 06/01/97 60.6 9.625 420.72
CPIFR 46037 83,961.16 02/01/90 01/01/20 271.00 06/01/97 84.9 9.875 774.27
CPIFR 46086 41,352.99 02/01/90 01/01/20 271.00 06/01/97 74.5 9.750 378.03
CPIFR 46094 44,879.22 02/01/90 01/01/20 271.00 07/01/97 76.1 9.625 408.00
CPIFR 46136 51,128.59 02/01/90 01/01/20 271.00 06/01/97 79.7 9.375 454.14
CPIFR 46250 19,635.04 04/01/90 03/01/05 93.00 07/01/97 67.7 9.125 408.69
CPIFR 46276 32,843.51 04/01/90 03/01/20 273.00 06/01/97 77.9 9.375 291.12
CPIFR 46441 33,076.96 04/01/90 03/01/20 273.00 06/01/97 78.2 9.500 295.99
CPIFR 46557 37,701.02 05/01/90 04/01/20 274.00 06/01/97 62.7 9.750 374.60
CPIFR 46599 63,909.31 06/01/90 05/01/20 275.00 06/01/97 65.6 10.000 789.82
CPIFR 46821 28,123.70 07/01/90 06/01/20 276.00 07/01/97 78.9 9.875 267.46
CPIFR 47001 35,693.24 08/01/90 07/01/05 97.00 06/01/97 62.5 9.750 529.69
CPIFR 47217 21,140.39 08/01/90 07/01/05 97.00 07/01/97 80.0 9.625 382.85
CPIFR 47290 24,948.33 09/01/90 08/01/05 98.00 06/01/97 58.3 9.375 362.85
CPIFR 47480 109,389.12 02/01/91 01/01/21 283.00 06/01/97 79.3 9.750 988.03
CPIFR 47654 83,061.37 11/01/90 10/01/20 280.00 06/01/97 77.8 9.250 723.96
CPIFR 47803 103,068.59 11/01/90 10/01/20 280.00 06/01/97 67.7 10.000 951.29
CPIFR 47944 72,127.03 12/01/90 11/01/20 281.00 06/01/97 88.7 9.750 747.47
CPIFR 48041 18,903.13 12/01/90 11/01/20 281.00 06/01/97 38.4 10.000 175.52
CPIFR 48181 55,509.12 01/01/91 12/01/20 282.00 06/01/97 78.7 9.750 541.27
CPIFR 48272 58,887.98 01/01/91 12/01/20 282.00 06/01/97 56.3 9.750 532.68
CPIFR 48439 24,698.26 01/01/91 12/01/20 282.00 06/01/97 78.7 9.750 223.39
CPIFR 48447 21,569.27 05/01/91 04/01/06 106.00 06/01/97 23.2 9.000 294.14
CPIFR 48454 210,632.72 01/01/91 12/01/20 282.00 06/01/97 79.9 9.625 1,903.13
CPIFR 48561 2,830.00 03/01/91 02/01/21 284.00 06/01/97 57.1 9.500 269.08
CPIFR 48603 65,480.90 02/01/91 01/01/21 283.00 06/01/97 85.1 9.500 580.19
CPIFR 48645 23,160.84 03/01/91 02/01/21 284.00 06/01/97 90.0 9.875 211.01
CPIFR 48694 116,516.54 04/01/91 03/01/21 285.00 06/01/97 69.2 9.500 1,030.47
CPIFR 48819 95,109.96 07/01/91 06/01/21 288.00 07/01/97 89.9 9.125 819.33
CPIFR 48926 81,438.92 06/01/91 05/01/21 287.00 06/01/97 67.3 9.500 718.94
CPIFR 49171 172,252.81 06/01/91 05/01/06 107.00 06/01/97 47.9 9.000 2,332.82
CPIFR 49221 35,721.62 06/01/91 05/01/06 107.00 06/01/97 69.4 9.000 507.14
CPIFR 49387 64,684.54 07/01/91 06/01/21 288.00 06/01/97 78.1 9.250 559.42
CPIFR 49551 39,938.00 07/01/91 06/01/06 108.00 06/01/97 38.8 8.750 544.20
CPIFR 49577 65,560.03 07/01/91 06/01/21 288.00 06/01/97 57.5 9.125 561.41
CPIFR 49585 108,059.75 07/01/91 06/01/21 288.00 06/01/97 65.8 8.875 907.04
CPIFR 49619 128,269.67 07/01/91 06/01/21 288.00 06/01/97 90.0 9.125 1,098.41
CPIFR 49684 93,950.82 07/01/91 06/01/21 288.00 06/01/97 80.0 8.750 793.00
CPIFR 49825 128,839.92 07/01/91 06/01/21 288.00 06/01/97 79.7 9.125 1,103.29
CPIFR 49882 98,988.95 08/01/91 07/01/21 289.00 06/01/97 69.5 8.875 885.56
CPIFR 50187 71,342.21 07/01/91 06/01/21 288.00 06/01/97 87.9 9.250 629.35
CPIFR 50385 130,831.10 08/01/91 07/01/21 289.00 06/01/97 88.7 9.125 1,119.28
CPIFR 50567 55,660.48 09/01/91 08/01/21 290.00 07/01/97 78.2 7.000 402.02
CPIFR 51045 36,111.03 02/01/92 01/01/22 295.00 06/01/97 56.4 8.625 307.23
CPIFR 51177 64,755.83 11/01/91 10/01/21 292.00 06/01/97 90.0 6.250 422.02
CPIFR 51185 16,209.97 11/01/91 10/01/06 112.00 06/01/97 61.0 9.250 339.12
CPIFR 51193 81,355.06 11/01/91 10/01/21 292.00 06/01/97 78.5 9.125 694.05
CPIFR 51292 140,967.25 04/01/92 03/01/22 297.00 06/01/97 60.9 7.875 1,078.69
CPIFR 51433 33,358.86 12/01/91 11/01/21 293.00 06/01/97 67.3 8.875 284.05
CPIFR 51615 52,380.27 01/01/92 12/01/21 294.00 06/01/97 61.1 8.750 432.69
CPIFR 51649 112,558.69 03/01/92 02/01/22 296.00 07/01/97 73.7 8.125 996.44
CPIFR 51722 34,831.02 01/01/92 12/01/21 294.00 06/01/97 47.6 8.750 314.69
CPIFR 51805 61,286.10 02/01/92 01/01/22 295.00 06/01/97 52.4 9.375 532.32
CPIFR 51821 13,772.68 02/01/92 01/01/02 55.00 06/01/97 30.0 8.750 300.79
CPIFR 51904 50,124.48 03/01/92 02/01/22 296.00 06/01/97 75.7 8.125 393.53
CPIFR 51920 76,167.82 03/01/92 02/01/22 296.00 06/01/97 32.0 8.500 615.14
CPIFR 52043 42,290.71 02/01/92 01/01/22 295.00 06/01/97 75.5 8.625 346.90
CPIFR 52084 90,137.02 03/01/92 02/01/22 296.00 06/01/97 73.0 8.125 705.38
CPIFR 52118 19,235.88 04/01/92 03/01/07 117.00 07/01/97 49.0 7.625 233.54
CPIFR 52159 57,428.27 06/01/92 05/01/02 59.00 06/01/97 72.3 8.250 1,171.34
CPIFR 52191 112,702.82 04/01/92 03/01/07 117.00 06/01/97 51.1 8.000 1,433.48
CPIFR 52225 100,766.32 02/01/92 01/01/22 295.00 06/01/97 89.1 8.375 807.12
</TABLE>
<PAGE>
Page 36 6/24/97
ALLIANCE FUNDING COMPANY
A DIVISION OF SUPERIOR BANK FSB
SALE SCHEDULE
1997-2 CLASS 1 - INITIAL POOL OF FIXED RATE MORTGAGES - SETTLEMENT 6/25/97
<TABLE>
<CAPTION>
Principal
Zip Balance at
Sale ID Account Name Address City State Code Origination
- ----------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C>
CPIFR 52514 MALHOTRA BHARAT B 1813 SHETLAND RD NAPERVILLE IL 60565 74,900.00
CPIFR 52605 MANCE ANN K 6059 EAST AVE HODGKINS IL 60525 29,150.00
CPIFR 52704 TUREK JAMES A 336 S KENSINGTON AVE LA GRANGE IL 60525 80,000.00
CPIFR 52779 WHEELER STANLEY E 405 ARLINGTON AVE ELMHURST IL 60126 164,000.00
CPIFR 52928 SOSNOWSKI JAMES M 5409 S HUNT ST SUMMIT IL 60501 58,200.00
CPIFR 52951 DUKE STEPHEN T 11027 W 84TH PLACE WILLOW SPIN IL 60480 135,900.00
CPIFR 52985 DIEHL RICHARD E 1872 IRENE RD SANDWICH IL 60548 56,200.00
CPIFR 53090 GOUGH GARY ALLEN 3615 FREUND AVE MCHENRY IL 60050 55,000.00
CPIFR 53124 PUBENTZ DONALD A 4065 WESTERN AVE WESTERN SPR IL 60558 141,500.00
CPIFR 53314 WILHELM GARY P 160 N DELAPLAINE RD RIVERSIDE IL 60546 175,000.00
CPIFR 53363 SCANLAN MARY JO 6541 W 64TH PLACE CHICAGO IL 60638 29,700.00
CPIFR 53504 DAVID LAMBERTO I 249 SUNRISE AVE HINSDALE IL 60521 83,300.00
CPIFR 53587 DOLEHIDE DANIEL T 7413 S WILLOW SPRINGS LA GRANGE IL 60525 97,000.00
CPIFR 53884 ARELLANO CHANO J RR 2 BOX 156 SHERIDAN IL 60551 74,800.00
CPIFR 54007 MONTAG SHARON LYNN 1244 HOWARD AVENUE BERKELEY IL 60163 90,600.00
CPIFR 54056 THOMPSON-TUR BEULAH 8101 S HOUSTON AVE CHICAGO IL 60617 64,800.00
CPIFR 54148 EASTON DOUGLAS C 7137 W 115TH PLACE WORTH IL 60482 101,250.00
CPIFR 54494 POLK LAWRENCE S 3825 S 57TH AVE CICERO IL 60650 54,500.00
CPIFR 55228 MCNICHOLAS JOHN P 1778 S JOGREN COURT WHEATON IL 60187 252,500.00
CPIFR 55467 ROBB TERRENCE J 11S141 BARRETT STREET LEMONT IL 60439 255,000.00
CPIFR 55921 MANDELL STEVE J 3643 S CLINTON STREET BERWYN IL 60402 121,300.00
CPIFR 56861 RADECKI JOSEPH D 6928 PERSHING ROAD BERWYN IL 60402 88,000.00
CPIFR 57182 DIKMEN F NED 118 W CHESTNUT STREET CHICAGO IL 60610 265,000.00
CPIFR 57190 DIKMEN F NED 116 W CHESTNUT STREET CHICAGO IL 60610 265,000.00
CPIFR 57208 DIKMEN F NED 120 W CHESTNUT ST CHICAGO IL 60610 280,000.00
CPIFR 57638 WILKEN JUDITH A 505 REDONDO DRIVE DOWNERS GRO IL 60515 73,800.00
CPIFR 57828 LONGANO JOHN 124 N LINCOLN ST HINSDALE IL 60521 337,500.00
CPIFR 58321 SANNES GREGORY B 5906 S KENSINGTON AVE COUNTRYSIDE IL 60525 115,000.00
CPIFR 59766 LOPRESTI SAMUEL T 5626 S PARK AVENUE HINSDALE IL 60521 275,000.00
CPIFR 60517 RUSSOTTO RALPH S 13520 MAROSSA COURT LOCKPORT IL 60441 225,000.00
CPIFR 61119 FEENEY WILLIAM A 10701 FORESTVIEW DRIVE COUNTRYSIDE IL 60525 70,000.00
CPIFR 61150 REULAND WILMA F 519 N MAIN #1 GLEN ELLYN IL 60137 59,000.00
CPIFR 61267 AHUJA SATYA 69 DEERPATH TRAIL BURR RIDGE IL 60521 300,000.00
CPIFR 61390 JUNGKANS KURT 101 HILLSIDE DRIVE YORKVILLE IL 60560 100,000.00
CPIFR 61903 KMIEC LECH J 2 S 725 AVE CHATEAU EA OAK BROOK IL 60521 283,500.00
CPIFR 62059 KRAFFT STEPHEN A 585 INDIAN CREEK DRIVE LELAND IL 60531 61,000.00
CPIFR 62273 HENDRIX JOE N 2639 N WHIPPLE CHICAGO IL 60647 91,000.00
CPIFR 62331 MITCHELL GREGORY T 154 N CORA AVENUE FOX LAKE IL 60020 68,000.00
CPIFR 62810 MCBRYDE MICHAEL 1630 N MANGO CHICAGO IL 60639 61,000.00
CPIFR 63057 MANOLA FRANCES 459 N WOODALE ROAD ADDISON IL 60101 203,000.00
CPIFR 63172 BILITAVICIUS VYTAUTAS 9035 W 147TH STREET ORLAND PARK IL 60462 50,000.00
CPIFR 63198 MAYER RICHARD W 1408 N HICKORY AVENUE ARLINGTON H IL 60004 115,000.00
CPIFR 63404 KEHOE GINA A 3455 193RD STREET LANSING IL 60438 136,200.00
CPIFR 63511 CERNY BRENDA 6N942 IRVING AVENUE ST.CHARLES IL 60174 50,000.00
CPIFR 63669 MURPHY THOMAS C 812 MEADOWRIDGE NEW LENOX IL 60451 72,000.00
CPIFR 63776 SIEGLER AARON K 3742 HARRISON AVENUE BROOKFIELD IL 60513 85,000.00
CPIFR 63933 MAGLIO TED M 18232 S RIDGEWOOD LANSING IL 60438 56,100.00
CPIFR 63990 RASSMUSSEN ANDREW G 548 BEACHVIEW DRIVE SOMONAUK IL 60552 121,000.00
CPIFR 64204 STREJC RICHARD K 6613 FOXTREE AVENUE WOODRIGE IL 60517 100,000.00
CPIFR 64519 SHALLOO ROSE T 7328 W 85TH PLACE BRIDGEVIEW IL 60455 51,000.00
CPIFR 64683 SULLIVAN DENNIS L 8616 ROCKEFELLER AVENUE BROOKFIELD IL 60513 40,000.00
CPIFR 64691 WALTER WAYNE W 4129 MAIN STREET DOWNERS GRO IL 60515 113,000.00
CPIFR 64782 GIDLUND RONALD J 441 JULIA STREET LEMONT IL 60439 100,000.00
CPIFR 64808 KAWA ANDREW 870 WINESAP COURT PROSPECT HE IL 60070 47,500.00
CPIFR 64964 THOMAS CHARLES A 19054 S JONATHAN LANE HOMEWOOD IL 60430 102,500.00
CPIFR 65151 KRUEGER MARK A 7702 W HICKORY CREEK DRIV FRANKFORT IL 60423 91,500.00
CPIFR 65169 RUMBAUGH GEORGE L 17518 CLOVERVIEW DRIVE TINLEY PARK IL 60477 172,500.00
CPIFR 65227 CIBIC ROBERT A 7622 FARMINGDALE DR. DARIEN IL 60561 50,000.00
CPIFR 65284 GRAY JOANNA 8905 KNIGHT AVENUE DES PLAINES IL 60016 40,000.00
CPIFR 65342 RUBIO ALEXANDER 4436 S HOMAN CHICAGO IL 60632 93,000.00
CPIFR 65409 MADISON VIRGINIA 12450 S CARPENTER CALUMET PAR IL 60643 58,000.00
CPIFR 65441 MILOSEVIC GORDANA B 725 HILL DRIVE HOFFMAN EST IL 60194 36,800.00
CPIFR 65466 HERMAN MICHAEL T 3620 N PINE GROVE AVENUE CHICAGO IL 60613 20,000.00
CPIFR 65631 SCHEMENSKY JAMES 10513 S AVENUE E CHICAGO IL 60617 55,000.00
<CAPTION>
Cut-off Date First Original Current Scheduled
Principal Payment Maturity Rem Date LTV Mortgage Payment
Sale ID Account Balance Date Date Term Due Ratio Rate Int & Prin
- --------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
CPIFR 52514 55,534.37 04/01/92 03/01/07 117.00 06/01/97 65.7 8.125 721.20
CPIFR 52605 22,757.26 04/01/92 03/01/07 117.00 06/01/97 24.2 8.125 280.69
CPIFR 52704 74,562.99 05/01/92 04/01/22 298.00 06/01/97 30.3 7.875 580.06
CPIFR 52779 155,014.25 05/01/92 04/01/22 298.00 07/01/97 62.5 7.625 1,160.79
CPIFR 52928 45,785.49 05/01/92 04/01/07 118.00 06/01/97 75.5 8.250 564.63
CPIFR 52951 129,212.40 05/01/92 04/01/22 298.00 06/01/97 64.7 8.125 1,009.06
CPIFR 52985 53,160.98 04/01/92 03/01/22 297.00 06/01/97 67.7 7.750 402.63
CPIFR 53090 36,661.45 06/01/92 05/01/07 119.00 06/01/97 46.2 8.625 545.65
CPIFR 53124 134,987.24 05/01/92 04/01/22 298.00 06/01/97 80.6 8.500 1,088.02
CPIFR 53314 138,130.25 06/01/92 05/01/07 119.00 06/01/97 71.4 8.125 1,685.05
CPIFR 53363 23,393.49 06/01/92 05/01/07 119.00 06/01/97 45.0 8.000 283.83
CPIFR 53504 79,695.57 08/01/92 07/01/22 301.00 06/01/97 72.4 8.500 640.51
CPIFR 53587 68,650.82 06/01/92 05/01/07 119.00 06/01/97 36.1 8.250 941.04
CPIFR 53884 70,983.49 08/01/92 07/01/22 301.00 06/01/97 74.8 8.875 588.57
CPIFR 54007 84,633.07 08/01/92 07/01/22 301.00 07/01/97 79.8 8.625 693.23
CPIFR 54056 50,320.32 08/01/92 07/01/07 121.00 06/01/97 76.2 8.375 633.38
CPIFR 54148 94,051.26 07/01/92 06/01/22 300.00 07/01/97 90.0 9.000 793.70
CPIFR 54494 48,421.55 09/01/92 08/01/12 182.00 06/01/97 64.8 8.500 472.97
CPIFR 55228 241,537.17 11/01/92 10/01/22 304.00 06/01/97 78.9 8.125 1,874.81
CPIFR 55467 241,066.96 12/01/92 11/01/22 305.00 06/01/97 64.5 8.375 1,912.83
CPIFR 55921 80,080.68 02/01/93 01/01/03 67.00 06/01/97 73.5 7.875 1,463.71
CPIFR 56861 84,584.89 02/01/93 01/01/23 307.00 06/01/97 73.3 8.375 668.87
CPIFR 57182 252,959.69 02/01/93 01/01/23 307.00 06/01/97 49.0 7.500 1,852.92
CPIFR 57190 252,959.69 02/01/93 01/01/23 307.00 06/01/97 48.1 7.500 1,852.92
CPIFR 57208 267,277.66 02/01/93 01/01/23 307.00 06/01/97 50.9 7.500 1,957.81
CPIFR 57638 68,669.21 04/01/93 03/01/23 309.00 07/01/97 90.0 7.875 523.39
CPIFR 57828 275,825.18 06/01/93 05/01/08 131.00 06/01/97 73.8 7.875 3,201.02
CPIFR 58321 109,609.29 06/01/93 05/01/23 311.00 06/01/97 71.8 8.625 882.27
CPIFR 59766 264,700.46 10/01/93 09/01/23 315.00 06/01/97 52.8 7.500 1,922.84
CPIFR 60517 215,217.62 05/01/94 04/01/24 322.00 06/01/97 74.2 7.375 1,554.02
CPIFR 61119 66,897.50 01/01/94 12/01/23 318.00 06/01/97 46.6 6.875 459.86
CPIFR 61150 56,664.55 01/01/94 12/01/23 318.00 06/01/97 71.9 6.750 382.68
CPIFR 61267 251,921.63 01/01/94 12/01/08 138.00 06/01/97 59.7 6.875 2,675.57
CPIFR 61390 33,008.48 01/01/94 12/01/98 18.00 06/01/97 58.8 6.750 1,968.35
CPIFR 61903 273,295.90 02/01/94 01/01/24 319.00 06/01/97 59.4 7.125 1,910.00
CPIFR 62059 58,331.02 04/01/94 03/01/24 321.00 07/01/97 44.2 7.125 410.97
CPIFR 62273 83,668.42 04/01/94 03/01/24 321.00 09/01/97 51.1 7.300 623.87
CPIFR 62331 58,409.52 04/01/94 03/01/09 141.00 06/01/97 60.7 6.250 583.05
CPIFR 62810 57,248.87 06/01/94 05/01/24 323.00 07/01/97 69.3 7.750 437.02
CPIFR 63057 195,622.64 04/01/94 03/01/24 321.00 07/01/97 62.4 7.375 1,402.08
CPIFR 63172 43,506.38 05/01/94 04/01/09 142.00 06/01/97 36.7 7.000 449.42
CPIFR 63198 111,395.26 05/01/94 04/01/24 322.00 06/01/97 80.4 7.500 804.10
CPIFR 63404 116,991.04 04/01/94 03/01/09 141.00 06/01/97 87.8 6.250 1,167.81
CPIFR 63511 48,413.84 05/01/94 04/01/24 322.00 07/01/97 68.4 7.500 349.61
CPIFR 63669 69,381.45 04/01/94 03/01/24 321.00 06/01/97 72.0 6.750 467.00
CPIFR 63776 73,417.52 05/01/94 04/01/24 322.00 06/01/97 65.3 7.375 587.08
CPIFR 63933 54,219.03 04/01/94 03/01/24 321.00 06/01/97 70.1 7.500 392.26
CPIFR 63990 117,152.59 04/01/94 03/01/24 321.00 06/01/97 89.6 7.500 846.05
CPIFR 64204 86,971.07 05/01/94 04/01/09 142.00 06/01/97 67.5 7.000 898.83
CPIFR 64519 48,612.97 05/01/94 04/01/24 322.00 06/01/97 75.0 7.500 356.60
CPIFR 64683 34,621.07 05/01/94 04/01/09 142.00 06/01/97 28.9 7.000 359.54
CPIFR 64691 109,313.47 05/01/94 04/01/24 322.00 07/01/97 84.9 7.500 790.12
CPIFR 64782 96,523.91 05/01/94 04/01/24 322.00 07/01/97 66.4 7.000 665.31
CPIFR 64808 40,774.05 05/01/94 04/01/09 142.00 06/01/97 69.8 7.000 426.95
CPIFR 64964 99,119.09 05/01/94 04/01/24 322.00 06/01/97 72.1 7.125 690.57
CPIFR 65151 88,269.59 05/01/94 04/01/24 322.00 06/01/97 74.6 6.750 593.47
CPIFR 65169 166,703.96 06/01/94 05/01/24 323.00 06/01/97 71.5 6.875 1,133.21
CPIFR 65227 41,851.38 05/01/94 04/01/09 142.00 06/01/97 26.0 7.000 449.42
CPIFR 65284 34,851.28 05/01/94 04/01/09 142.00 06/01/97 71.4 7.125 362.34
CPIFR 65342 90,158.26 06/01/94 05/01/24 323.00 06/01/97 54.3 7.375 642.33
CPIFR 65409 50,512.55 07/01/94 06/01/09 144.00 06/01/97 71.1 6.375 501.27
CPIFR 65441 34,889.23 06/01/94 05/01/24 323.00 06/01/97 80.0 7.500 257.32
CPIFR 65466 18,720.57 05/01/94 04/01/24 322.00 07/01/97 76.9 7.750 143.29
CPIFR 65631 36,613.15 05/01/94 04/01/09 142.00 08/01/97 57.2 7.125 498.21
</TABLE>
<PAGE>
Page 37 6/24/97
ALLIANCE FUNDING COMPANY
A DIVISION OF SUPERIOR BANK FSB
SALE SCHEDULE
1997-2 CLASS 1 - INITIAL POOL OF FIXED RATE MORTGAGES - SETTLEMENT 6/25/97
<TABLE>
<CAPTION>
Principal
Zip Balance at
Sale ID Account Name Address City State Code Origination
- ----------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C>
CPIFR 65656 SNYDER JOAN 1024 WINDGATE COURT NAPERVILLE IL 60540 177,000.00
CPIFR 65664 DALENCOUR MARYSE T 8757 S COLFAX CHICAGO IL 60617 41,200.00
CPIFR 65847 RUE LAWRENCE 625 THOREAU DRIVE ELGIN IL 60120 79,000.00
CPIFR 66183 DERKSON SANDRA M 2566 HERRON LINDENHURST IL 60046 108,000.00
CPIFR 66407 NIKU HOOSHANG 8300 CLYNDERVEN BURR RIDGE IL 60521 192,000.00
CPIFR 66472 VIEAUX JAMES M 340 OSWEGO ROAD PARK FOREST IL 60466 58,500.00
CPIFR 66597 WARREN B ARTHUR 520 W WINTHROP STREET EARLVILLE IL 60518 44,100.00
CPIFR 66662 DECKYS PAULA J 6033 N SHERIDAN ROAD CHICAGO IL 60660 50,000.00
CPIFR 66969 BILTON MICHAEL 55 CUMBERLAND DRIVE LINCOLNSHIR IL 60069 199,200.00
CPIFR 67561 GRONYCH JAN M 114 SPRINGLEAF DRIVE BOLINGBROOK IL 60440 60,000.00
CPIFR 69955 NEWELL PAUL 7 MARINER ROAD HOPATCONG NJ 07843 117,000.00
CPIFR 501908 KEELEY PATRICK C 2254 N RACINE AVE CHICAGO IL 60614 235,000.00
CPIFR 502096 GUSTAFSON HARRY W 915 BANBURY CT SCHAUMBURG IL 60194 66,150.00
CPIFR 502112 SHEEHAN FRANCIS E 521 PEACOCK COURT NAPERVILLE IL 60565 100,000.00
CPIFR 503854 BRYNIARSKI JAN 6726 S KOLIN AVE CHICAGO IL 60629 65,500.00
CPIFR 507533 ROSS DANIEL C 153 HUNT CLUB ROAD GURNEE IL 60031 170,000.00
------------------------------------- ----------------
144 Sale Total 13,774,930.00
144 Total with Superior Bank Retail 13,774,930.00
1,674 Grand Total 96,692,869.00
<CAPTION>
Cut-off Date First Original Current Scheduled
Principal Payment Maturity Rem Date LTV Mortgage Payment
Sale ID Account Balance Date Date Term Due Ratio Rate Int & Prin
- -----------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
CPIFR 65656 171,361.70 05/01/94 04/01/24 322.00 06/01/97 75.0 7.375 1,222.50
CPIFR 65664 35,688.17 05/01/94 04/01/09 142.00 07/01/97 79.2 7.000 370.32
CPIFR 65847 76,567.86 05/01/94 04/01/24 322.00 06/01/97 75.9 7.500 552.38
CPIFR 66183 103,654.05 05/01/94 04/01/24 322.00 06/01/97 61.0 7.500 755.16
CPIFR 66407 145,657.90 05/01/94 04/01/04 82.00 06/01/97 49.8 6.625 2,192.36
CPIFR 66472 50,793.88 06/01/94 05/01/09 143.00 06/01/97 65.7 6.375 505.59
CPIFR 66597 38,524.78 05/01/94 04/01/09 142.00 06/01/97 69.4 7.375 405.69
CPIFR 66662 41,511.25 06/01/94 05/01/09 143.00 06/01/97 75.7 7.375 459.97
CPIFR 66969 193,653.44 06/01/94 05/01/24 323.00 06/01/97 75.4 7.875 1,444.34
CPIFR 67561 58,276.78 06/01/94 05/01/24 323.00 07/01/97 64.5 7.875 435.05
CPIFR 69955 113,169.97 06/01/94 05/01/24 323.00 06/01/97 90.0 7.000 778.41
CPIFR 501908 225,488.80 06/01/93 05/01/23 311.00 06/01/97 62.6 7.625 1,663.32
CPIFR 502096 61,344.91 02/01/93 01/01/23 307.00 06/01/97 70.0 7.500 462.54
CPIFR 502112 78,454.42 01/01/93 12/01/22 306.00 06/01/97 39.3 7.500 699.22
CPIFR 503854 62,398.88 05/01/93 04/01/23 310.00 07/01/97 54.1 7.125 441.29
CPIFR 507533 164,850.75 05/01/94 04/01/24 322.00 07/01/97 72.3 7.750 1,217.91
------------------------- ----------- ------------------------------
144 12,328,519.67 264.60 67.5 8.052 111,513.82
144 12,328,519.67 264.60 67.5 8.052 111,513.82
1,674 94,729,249.31 217.41 75.9 11.372 1,013,894.81
</TABLE>
<PAGE>
Page 1 6/24/97
EXHIBIT H-2
MORTGAGE LOAN SCHEDULE FOR SUB-POOL 2
ALLIANCE FUNDING COMPANY
A DIVISION OF SUPERIOR BANK FSB
SALE SCHEDULE A
1997-2 CLASS 2 - INITIAL POOL OF ADJUSTABLE RATE MORTGAGES - SETTLEMENT 6/25/97
<TABLE>
<CAPTION>
Principal
Zip Balance at
Sale ID Account Name Address City State Code Origination
- ------------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C>
ML162 161244207 HARNICK DONALD 183 LINDBERGH AVENUE OCEANSIDE NY 11572 225,000.00
ML162 161264031 MOLAEI MOHSEN 7903 BARRIE DEARBORN MI 48126 59,500.00
ML162 161319413 KUCHARSKI DAVID A 2910 KAMA MCHENRY IL 60050 106,000.00
ML162 161363239 FLAHERTY COLM F 396 WASHINGTON STREET ELMHURST IL 60126 197,000.00
ML162 161371299 MORNINGSTAR JOSEPH M 63 PUMPHOUSE ROAD TANEYTOWN MD 21787 171,900.00
ML162 161372545 BEST EDWARD J 1582 S. 36TH ST. MILWAUKEE WI 53215 50,000.00
ML162 161414156 SELLAND NORMAN D 10026 N CALHOUN AVENUE PORTLAND OR 97203 63,750.00
ML162 161414487 MILTON CHARLES W 1112 ADAMS WAUCONDA IL 60084 116,000.00
ML162 161420880 AL-AKOUBI AQIL 6709 MONTROSE DETROIT MI 48228 25,000.00
ML162 161421417 WILLIS MARSHALL M 4211 PINETREE LANE PINETOP AZ 85935 54,750.00
ML162 161423009 REYNOLDS ROBERT 4504 228TH AVENUE NE REDMOND WA 98053 197,200.00
ML162 161423843 SALMON SEAN R 833 WEST 400 NORTH WEST BOUNTIFUL UT 84037 182,500.00
ML162 161425160 THOMAS JAMES 3948 WEST SOUTH ARTHINGTON CHICAGO IL 60644 81,000.00
ML162 161429048 RICHTER MARK S 29050 SHERRY AVENUE MADISON HEIGHTS MI 48071 89,100.00
ML162 161430855 HUNTER MICHAEL C 1588 DUCK LAKE HIGHLAND MI 48356 57,000.00
ML162 161432521 WILLESEN RODNEY 2495 SOUTH DERBY STREET SALT LAKE CITY UT 84119 61,600.00
ML162 161436142 LOVE DAVID JOHN 408 2ND STREET WALWORTH WI 53184 56,100.00
ML162 161436233 SANJARA VAL 5217 25TH AVENUE SOUTHWEST SEATTLE WA 98106 83,800.00
ML162 161438239 PARRISH SANTINO 7501 GRANDMONT DETROIT MI 48228 66,600.00
ML162 161438502 HAMAR BRUCE A 10712 24TH DRIVE SOUTHEAST EVERETT WA 98208 122,400.00
ML162 161439385 ARNOLD GREGORY 5220 OAKMAN BLVD DETROIT MI 48204 54,400.00
ML162 161440029 HUBBS SCOTT EDWARD 7023 S MARTIN LUTHER KING CHICAGO IL 60637 66,000.00
ML162 161442181 HOSTETLER JERRY A 4923 E KESSLER INDIANAPOLIS IN 46220 628,200.00
ML162 161442843 KLOZA DIANE M 212 CROWN HIGH COURT COLORADO SPRINGS CO 80904 197,911.00
ML162 161443411 JACKSON RANDALL M 5004 WEST AUGUSTA CIRCLE GLENDALE AZ 85308 110,000.00
ML162 161443536 LABALESTRA PIETRO 30 W 350 ARMY TRAIL ROAD BARTLETT IL 60103 60,000.00
ML162 161443734 MARETIC MATHEW ROBERT 4390 FIFTH STREET ECORSE MI 48229 20,000.00
ML162 161443916 YARBROUGH CALVIN D 29817 2ND AVENUE SOUTHWEST FEDERAL WAY WA 98023 135,950.00
ML162 161445283 GREENE DENISE 3053 W. WASHINGTON CHICAGO IL 60612 94,500.00
ML162 161445465 SMELSER DONALD LEE 20920 HARRINGTON CLINTON TOWNSHIP MI 48036 152,300.00
ML162 161445523 WARREN ROBERT 1154 BACON STREET INDIANAPOLIS IN 46227 21,000.00
ML162 161445747 STEMME MARY H 4520 BEAUMONT ROAD COLORADO SPRINGS CO 80916 35,000.00
ML162 161447537 JOHNSON RICHARD M 9525 HAMBURG ROAD WEBSTER TOWNSHIP MI 48489 115,000.00
ML162 161447586 TOTUSEK RICHARD Q 7019 NORTH JULIA STREET SPOKANE WA 99207 54,000.00
ML162 161447925 SRISAVATHTHA SENGDARA 1243 SUMMER BLOSSOM AVENUE SAN JOSE CA 95122 228,555.00
ML162 161449756 FORENPOHAR VERNON E 90 SELAH-NACHES ROAD SELAH WA 98942 136,000.00
ML162 161449772 SATRA ALLEN E 1907 NORTH 35TH PLACE MOUNT VERNON WA 98273 96,000.00
ML162 161450630 HOFFMANN DETLEF H 136 WEST 6TH STREET LEADVILLE CO 80461 58,500.00
ML162 161450937 WILLIAMS BRUCE A 31 WEST GROVE AVENUE SALT LAKE CITY UT 84115 68,000.00
ML162 161452214 ROSCOE JENNIFER A 8844 FREMONT PIKE PERRYSBURG OH 43551 46,800.00
ML162 161452362 DUNIGAN ERIC V 15660 GLASTONBURY DETROIT MI 48223 49,200.00
ML162 161452446 GURA ROBERT A 40060 AYNESLEY CLINTON TWP. MI 48038 132,000.00
ML162 161452685 SCHILLING RODNEY A 26022 227 PLACE SOUTH EAST MAPLE VALLEY WA 98038 183,600.00
ML162 161453675 ZEDDIS DOUGLAS W 7987 SOUTH 2980 WEST WEST JORDAN UT 84088 86,400.00
ML162 161453733 JOSFAN DAVID M 31523 COUNTRYSIDE ROAD STEAMBOAT SPRINGS CO 80477 845,000.00
ML162 161454186 BLACKMON KIM 812 NORTH HOWARD STREET AKRON OH 44310 42,700.00
ML162 161454947 CIENKOSZ JERZY 17 SANDALWOOD COURT STREAMWOOD IL 60107 122,400.00
ML162 161455266 BROWN SHERRY L 500 BRIARVALE AUBURN HILLS MI 48326 67,500.00
ML162 161456512 JOHNSON MELVIN A 2732 COOK STREET DENVER CO 80205 87,300.00
ML162 161457197 JONES JACK E 445 EAST 13800 SOUTH DRAPER UT 84020 134,400.00
ML162 161458039 BRUENNING JEFFREY D 519 SOUTH MUELLER STREET APPLETON WI 54914 85,900.00
ML162 161459219 REYNOLDS HELGA H 2064 CALLE CORONA FOUNTAIN CO 80817 80,000.00
ML162 161459797 CISNEROS GILBERT J 7865 VALLEJO STREET DENVER CO 80221 99,000.00
ML162 161459847 ANDERSON CARL W 4269 HILL TOP DRIVE PARK CITY UT 84098 240,000.00
ML162 161460266 MARWICK PATRICIA A 1440 N. LAKE SHORE DRIVE, CHICAGO IL 60610 135,000.00
ML162 161460514 WILLIAMS JOSEPH N 17317 NORBORNE REDFORD MI 48240 51,200.00
ML162 161460589 RUHLMAN STEVEN 1437 WEST NINE MILE FERNDALE MI 48220 66,500.00
ML162 161462288 MACERONI MICHAEL LOUIS 2424 BENJAMIN ROYAL OAK MI 48073 148,700.00
ML162 161462304 OMILION JOHN F 656 PONTIAC LAKE ORION MI 48362 127,800.00
<CAPTION>
Initial Minimum Maximum
Cut-off Date First Mort- Mort- Mort-
Principal Payment Maturity gage gage gage Gross
Sale ID Account Balance Date Date Rate Rate Rate Margin
- --------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C>
ML162 161244207 222,163.02 10/01/96 09/01/26 10.625 10.625 16.625 6.750
ML162 161264031 58,915.06 10/01/96 09/01/26 10.375 10.375 16.375 6.250
ML162 161319413 105,861.88 03/01/97 02/01/27 10.125 9.125 16.125 5.750
ML162 161363239 196,465.34 12/01/96 11/01/26 10.000 10.000 16.000 6.000
ML162 161371299 171,503.03 02/01/97 01/01/27 9.875 8.875 15.875 5.000
ML162 161372545 49,903.05 02/01/97 01/01/27 9.625 8.625 15.625 5.000
ML162 161414156 63,750.00 06/01/97 05/01/27 12.125 11.125 18.125 6.900
ML162 161414487 115,891.90 04/01/97 03/01/27 12.250 11.250 18.250 8.500
ML162 161420880 24,975.94 04/01/97 03/01/27 9.625 9.625 15.625 5.750
ML162 161421417 54,723.77 05/01/97 04/01/27 9.625 9.625 15.625 6.250
ML162 161423009 197,127.75 06/01/97 05/01/27 10.875 9.875 16.875 6.250
ML162 161423843 182,289.23 04/01/97 03/01/27 8.750 8.750 14.750 5.250
ML162 161425160 80,968.75 05/01/97 04/01/27 10.500 9.500 16.500 7.000
ML162 161429048 89,066.46 06/01/97 05/01/27 10.750 9.750 16.750 5.750
ML162 161430855 57,000.00 06/01/97 05/01/27 11.125 10.125 17.125 6.750
ML162 161432521 61,552.15 05/01/97 04/01/27 10.625 9.625 16.625 6.000
ML162 161436142 56,100.00 06/01/97 05/01/27 9.250 8.250 15.250 4.500
ML162 161436233 83,781.89 05/01/97 04/01/27 13.250 12.250 19.250 8.250
ML162 161438239 66,600.00 06/01/97 05/01/27 10.250 9.250 16.250 5.750
ML162 161438502 122,373.55 05/01/97 04/01/27 13.250 12.250 19.250 8.500
ML162 161439385 54,400.00 06/01/97 05/01/27 13.125 12.125 19.125 7.500
ML162 161440029 66,000.00 06/01/97 05/01/27 13.125 12.125 19.125 7.500
ML162 161442181 628,200.00 06/01/97 05/01/27 10.000 10.000 16.000 5.750
ML162 161442843 197,911.00 06/01/97 05/01/27 11.250 10.250 17.250 6.500
ML162 161443411 109,951.34 05/01/97 04/01/27 10.000 9.000 16.000 5.500
ML162 161443536 60,000.00 06/01/97 05/01/27 11.500 11.500 17.500 6.750
ML162 161443734 19,990.91 06/01/97 05/01/27 9.875 8.875 15.875 5.000
ML162 161443916 135,897.41 05/01/97 04/01/27 10.625 10.625 16.625 7.250
ML162 161445283 94,500.00 06/01/97 05/01/27 9.875 9.875 15.875 5.750
ML162 161445465 152,258.78 05/01/97 04/01/27 12.250 11.250 18.250 8.000
ML162 161445523 21,000.00 06/01/97 05/01/27 12.375 11.375 18.375 6.750
ML162 161445747 34,985.32 06/01/97 05/01/27 10.250 9.250 16.250 5.500
ML162 161447537 115,000.00 06/01/97 05/01/27 9.750 8.750 15.750 5.500
ML162 161447586 53,972.74 06/01/97 05/01/27 9.375 8.375 15.375 4.500
ML162 161447925 228,468.95 05/01/97 04/01/27 10.750 9.750 16.750 6.250
ML162 161449756 136,000.00 06/01/97 05/01/27 8.625 7.625 14.625 3.750
ML162 161449772 95,943.32 06/01/97 05/01/27 8.625 7.625 14.625 3.750
ML162 161450630 58,500.00 06/01/97 05/01/27 8.875 8.875 14.875 5.000
ML162 161450937 68,000.00 06/01/97 05/01/27 11.875 11.875 17.875 8.250
ML162 161452214 46,800.00 06/01/97 05/01/27 10.500 9.500 16.500 5.750
ML162 161452362 49,200.00 06/01/97 05/01/27 10.250 9.250 16.250 6.250
ML162 161452446 131,858.97 05/01/97 04/01/27 9.125 9.125 15.125 5.500
ML162 161452685 183,550.31 05/01/97 04/01/27 12.250 11.250 18.250 7.750
ML162 161453675 86,400.00 06/01/97 05/01/27 13.000 12.000 19.000 8.250
ML162 161453733 844,447.25 05/01/97 04/01/27 8.125 7.125 14.125 4.750
ML162 161454186 42,686.73 06/01/97 05/01/27 11.625 10.625 17.625 6.000
ML162 161454947 122,372.79 06/01/97 05/01/27 13.125 12.125 19.125 7.500
ML162 161455266 67,500.00 06/01/97 05/01/27 11.500 10.500 17.500 7.000
ML162 161456512 87,300.00 06/01/97 05/01/27 9.375 9.375 15.375 5.750
ML162 161457197 134,348.01 05/01/97 04/01/27 10.625 9.625 16.625 6.000
ML162 161458039 85,900.00 06/01/97 05/01/27 9.875 9.875 15.875 5.750
ML162 161459219 80,000.00 06/01/97 05/01/27 10.625 10.625 16.625 6.750
ML162 161459797 98,952.57 06/01/97 05/01/27 9.625 9.625 15.625 5.750
ML162 161459847 240,000.00 06/01/97 05/01/27 10.625 10.625 16.625 6.750
ML162 161460266 135,000.00 06/01/97 05/01/27 10.625 9.625 16.625 5.500
ML162 161460514 51,187.26 05/01/97 04/01/27 12.625 11.625 18.625 8.250
ML162 161460589 66,500.00 06/01/97 05/01/27 8.375 7.375 14.375 4.750
ML162 161462288 148,700.00 06/01/97 05/01/27 8.375 8.375 14.375 4.750
ML162 161462304 127,800.00 06/01/97 05/01/27 10.375 9.375 16.375 6.000
</TABLE>
<PAGE>
Page 2 6/24/97
ALLIANCE FUNDING COMPANY
A DIVISION OF SUPERIOR BANK FSB
SALE SCHEDULE A
1997-2 CLASS 2 - INITIAL POOL OF ADJUSTABLE RATE MORTGAGES - SETTLEMENT 6/25/97
<TABLE>
<CAPTION>
Principal
Zip Balance at
Sale ID Account Name Address City State Code Origination
- ------------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C>
ML162 161462460 PHILLIPS RICKY D 879 S. NEWMAN RD. WEST LAFAYETTE IN 47906 62,900.00
ML162 161462700 LESSER DANIEL CRAIG 5123 NORTH 83RD STREET SCOTTSDALE AZ 85250 73,200.00
ML162 161462718 URBAN DONALD F 3613 NORTHSHORE BLVD NORTH TACOMA WA 98422 200,000.00
ML162 161463278 HAILEY-GAMBL CORNELIA 426 SOUTH 16TH AVENUE MAYWOOD IL 60153 80,500.00
ML162 161464375 TOUCHARD TYRON P 5810 CORINTH DRIVE COLORADO SPRINGS CO 80918 114,300.00
ML162 161464565 WORKMAN MARK H 2257 EAST OAK FOREST DRIVE LAYTON UT 84040 145,000.00
ML162 161466107 SCHEUERMANN ROBERT F 138 THEDA WATERFORD MI 48328 72,000.00
ML162 161466487 GRAVIS LESLIE P 5865 WEST 5500 SOUTH HOOPER UT 84315 94,500.00
ML162 161467113 FINLEY MICHAEL A 295 N. MAIN ROMEO MI 48065 189,700.00
ML162 161467949 ZINDANCIOGLU ATTILA 3625 NORTH ASHLAND CHICAGO IL 60613 249,000.00
ML162 161467980 O'TOOLE MICHAEL J 6390 SLEIGHT ROAD BATH MI 48808 110,400.00
ML162 161469127 MONTOYA DEBRA C 560 BRONCO ROAD DENVER CO 80221 54,600.00
ML162 161469804 DOTSON DANIEL C 7725 WINDWOOD LANE WELLINGTON CO 80549 154,700.00
ML162 161472642 WILLIAMS JULIE 1389 WESTCHESTER WESTLAND MI 48186 41,000.00
ML162 161473145 HOLCOMB JACK 719 EAST KENWOOD STREET MESA AZ 85203 138,000.00
--------------------------------------- -----------------
74 Sale Total 9,008,716.00
<CAPTION>
Initial Minimum Maximum
Cut-off Date First Mort- Mort- Mort-
Principal Payment Maturity gage gage gage Gross
Sale ID Account Balance Date Date Rate Rate Rate Margin
- --------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C>
ML162 161462460 62,879.34 06/01/97 05/01/27 11.375 10.375 17.375 6.250
ML162 161462700 73,200.00 06/01/97 05/01/27 11.500 10.500 17.500 6.750
ML162 161462718 200,000.00 06/01/97 05/01/27 11.000 10.000 17.000 6.250
ML162 161463278 80,500.00 06/01/97 05/01/27 10.250 10.250 16.250 6.000
ML162 161464375 114,300.00 06/01/97 05/01/27 10.250 9.250 16.250 5.500
ML162 161464565 145,000.00 06/01/97 05/01/27 9.875 9.875 15.875 6.000
ML162 161466107 72,000.00 06/01/97 05/01/27 9.125 8.125 15.125 4.750
ML162 161466487 94,500.00 06/01/97 05/01/27 10.625 10.625 16.625 7.000
ML162 161467113 189,616.08 06/01/97 05/01/27 10.000 10.000 16.000 6.000
ML162 161467949 248,892.75 06/01/97 05/01/27 10.125 10.125 16.125 6.750
ML162 161467980 110,400.00 06/01/97 05/01/27 9.625 9.625 15.625 6.000
ML162 161469127 54,600.00 06/01/97 05/01/27 9.875 8.875 15.875 5.000
ML162 161469804 154,641.75 06/01/97 05/01/27 10.750 9.750 16.750 6.000
ML162 161472642 41,000.00 06/01/97 05/01/27 10.125 9.125 16.125 5.000
ML162 161473145 138,000.00 06/01/97 05/01/27 9.875 9.875 15.875 6.000
------------ --------------------------------
9,002,026.35 10.278 9.686 16.278 6.054
</TABLE>
<PAGE>
Page 3 6/24/97
ALLIANCE FUNDING COMPANY
A DIVISION OF SUPERIOR BANK FSB
SALE SCHEDULE A
1997-2 CLASS 2 - INITIAL POOL OF ADJUSTABLE RATE MORTGAGES - SETTLEMENT 6/25/97
<TABLE>
<CAPTION>
Principal
Zip Balance at
Sale ID Account Name Address City State Code Origination
- ------------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C>
ML163 161202718 SMITH GERALDINE 1129 MT VERNON CLEVELAND HEIGHTS OH 44112 87,500.00
ML163 161267075 PHILLIPS CHARLES 488 S. LUNDY STREET SALEM OH 44460 41,600.00
ML163 161363254 DORO CHARLES A 492 BROADWAY STREET BERLIN WI 54923 59,000.00
ML163 161366505 MILNER JEROME 3738 SOUTH PARKVIEW AVE. ALEXANDRIA KY 41001 89,600.00
ML163 161381645 FIELDS PAUL 1219 S. AVERS CHICAGO IL 60623 102,500.00
ML163 161401567 KEOGAN THOMAS 3934 NE 63RD AVENUE PORTLAND OR 97213 59,800.00
ML163 161419445 STUART JEFFREY 13451 NORTH 93RD WAY SCOTTSDALE AZ 85260 150,000.00
ML163 161432323 GOODFELLOW DANE P 8798 SOUTH SUTTON WAY SALT LAKE CITY UT 84121 283,200.00
ML163 161434808 RACUT DAWN M 20 NORTHFIELD AVE NORTHFIELD CENTER OH 44067 152,900.00
ML163 161434873 BEDFORD HILLARY 513 GLACIER TRAIL ROSELLE IL 60172 189,000.00
ML163 161437215 BROWN EARLEAN 2652 SOUTH 14380 EAST ROAD MOMENCE IL 60954 21,400.00
ML163 161439302 ALTENDORF MARK 1950-52 77TH STREET WEST ALLIS WI 53219 79,100.00
ML163 161440003 CROOKS LESTER 1100 HARTREY AVENUE EVANSTON IL 60202 192,000.00
ML163 161442199 GARDOUR TERRI M 9936 HARD KEY CIRCLE INDIANAPOLIS IN 46236 114,000.00
ML163 161443726 LAETSCH DAVID T 2302 WALLACE LAKE ROAD WEST BEND WI 53095 122,400.00
ML163 161445481 PARKS TIMOTHY 912 N MICHIGAN AVE HOWELL MI 48843 134,400.00
ML163 161446372 ABSHIRE BRUCE 21844 SE ASH STREET GRESHAM OR 97030 88,800.00
ML163 161446851 DAVIS YVETTE 4254 WEST 21ST ST. CHICAGO IL 60623 34,600.00
ML163 161446901 REYES LUZ L 1627 N FRANCISCO AVE CHICAGO IL 60647 116,000.00
ML163 161447529 STEVENSON JANICE M 1868 LAKESIDE DRIVE TIPTON MI 49287 92,000.00
ML163 161448154 HOLLAND JOHN L 19310 65TH STREET EAST BONNEY LAKE WA 98390 117,300.00
ML163 161448303 OSBORNE ALAN C RT 7 BOX 124-0 SANTA FE NM 87501 280,000.00
ML163 161448428 FELIX GREGORY 662 26TH STREET OAKLAND CA 94612 64,000.00
ML163 161448451 WARNER RAY 3793 WEST 12600 SOUTH RIVERTON UT 84065 240,000.00
ML163 161448923 BUCHANAN MELINDA 15167 PIEDMONT DETROIT MI 48223 73,500.00
ML163 161449145 COLETTA JAMES 505 LAUREL AVENUE WILMETTE IL 60091 140,000.00
ML163 161449327 WATKINS IRLINE 864 BARWICK COURT PAINESVILLE OH 44077 91,000.00
ML163 161451018 MANGELSON SEAN PAUL 262 JEFFERSON AVENUE POCATELLO ID 83201 53,550.00
ML163 161452370 RENO DL 67526 THUNDERBIRD DRIVE STURGIS MI 49091 132,000.00
ML163 161453527 MEYER DANIEL 419 E WISCONSIN AVENUE APPLETON WI 54911 53,900.00
ML163 161453808 SHULL BRADLEY R 6855 WHITE OAK ROAD PINETOP AZ 85935 160,000.00
ML163 161455027 LITTLE JAMES M 1205 N. FRINK PEORIA IL 61606 41,100.00
ML163 161455597 SOULE JONATHAN F 5739 N 42ND AVENUE PHOENIX AZ 85019 81,000.00
ML163 161456066 MEYER DANIEL 1016 E VINE STREET APPLETON WI 54911 64,400.00
ML163 161456637 CONTRERAS ANGELITA CASTIL 2143 WEST WILSHIRE DRIVE PHOENIX AZ 85009 45,900.00
ML163 161459367 ASHMEAD RONALD 7756 COLFAX AVE.NORTH BROOKLYN PARK MN 55444 85,600.00
ML163 161459433 PATRICK JOHN C 2443 AGOSTA-MEEKER RD NEW BLOOMINGTON OH 43341 63,700.00
ML163 161459581 GILANI MOHAMMAD 9004 W 122ND STREET PALOS PARK IL 60464 289,000.00
ML163 161459649 BERENDT RAYMOND II 17948 STEPHENS EASTPOINTE MI 48021 64,300.00
ML163 161459961 JOHNSON DEBORAH 45 GRANDVIEW SHELBYVILLE IN 46176 56,000.00
ML163 161459995 TYSON MARK A 58 SOUTH 900 EAST SALT LAKE CITY UT 84102 137,900.00
ML163 161460118 JONES ROBERT 7752 EAST VALLEY VISTA DRI SCOTTSDALE AZ 85250 131,200.00
ML163 161460175 BOYES JENNIFER 2715 V COURT SOUTHEAST AUBURN WA 98002 147,276.00
ML163 161460423 THOMAS SAM 7835 NORTH KOSTNER SKOKIE IL 60076 146,800.00
ML163 161460449 COLLIER PATRICIA 1526 N HUDSON CHICAGO IL 60610 130,000.00
ML163 161460522 MARABELLA JAMES J 45614 SPAGNUOLO MACOMB TOWNSHIP MI 48044 107,500.00
ML163 161460670 DUAH ROBERT 6618 WEST WILLOW AVENUE GLENDALE AZ 85304 423,750.00
ML163 161461389 RAPP NEIL 20173 MCKISHNIE CLINTON TWP MI 48035 80,800.00
ML163 161461413 JABRO SINAN 2694 ISLAND COURT SYLVAN LAKE MI 48320 280,500.00
ML163 161461421 STOVER PATRICIA A 7800 VOLKMER ROAD CHESANING MI 48616 85,400.00
ML163 161461454 HAYES BEVERLY 3333 WEST 34TH STREET INDIANAPOLIS IN 46222 84,800.00
ML163 161461967 BURNHAM CHRISTY 10326 WEST GRAND PLACE LITTLETON CO 80127 116,000.00
ML163 161463443 EAST ROBERT 18109 MARQUETTE ROSEVILLE MI 48066 67,400.00
ML163 161463591 MORVILLO JACK F 7910 IDLEWILD STREET COMMERCE CITY CO 80022 59,200.00
ML163 161464045 PIPPIN PAUL E 6808 STAHELIN DETROIT MI 48228 32,200.00
ML163 161464177 TROMBLEY GARY J 221 BOURBON COURT ROCHESTER HILLS MI 48307 160,000.00
ML163 161464227 COVERT ANN 33660 PARDO GARDEN CITY MI 48135 30,000.00
ML163 161464268 DEKARSKE HAROLD H 4219 S. US HWY 45 OSHKOSH WI 54901 76,500.00
ML163 161464979 NAYSTATT DAVID J 19950 W. CLEVELAND AVE. NEW BERLIN WI 53146 100,400.00
<CAPTION>
Initial Minimum Maximum
Cut-off Date First Mort- Mort- Mort-
Principal Payment Maturity gage gage gage Gross
Sale ID Account Balance Date Date Rate Rate Rate Margin
- --------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C>
ML163 161202718 87,161.35 09/01/96 08/01/26 9.875 9.875 15.875 6.000
ML163 161267075 41,454.37 10/01/96 09/01/26 10.375 10.375 16.375 6.250
ML163 161363254 58,894.73 03/01/97 02/01/27 8.625 7.625 14.625 3.750
ML163 161366505 89,470.44 02/01/97 01/01/27 11.000 10.000 17.000 6.000
ML163 161381645 102,273.51 02/01/97 01/01/27 9.000 8.000 15.000 4.500
ML163 161401567 59,787.07 05/01/97 04/01/27 13.250 12.250 19.250 7.750
ML163 161419445 150,000.00 06/01/97 05/01/27 12.250 11.250 18.250 7.000
ML163 161432323 282,991.54 04/01/97 03/01/27 10.875 10.875 16.875 7.250
ML163 161434808 152,900.00 06/01/97 05/01/27 10.375 10.375 16.375 6.750
ML163 161434873 189,000.00 06/01/97 05/01/27 10.375 10.375 16.375 6.750
ML163 161437215 21,394.05 05/01/97 04/01/27 12.125 11.125 18.125 6.750
ML163 161439302 79,100.00 06/01/97 05/01/27 10.250 9.250 16.250 5.250
ML163 161440003 192,000.00 06/01/97 05/01/27 12.750 11.750 18.750 8.500
ML163 161442199 114,000.00 06/01/97 05/01/27 11.750 11.750 17.750 7.500
ML163 161443726 122,400.00 06/01/97 05/01/27 10.750 9.750 16.750 5.750
ML163 161445481 134,400.00 06/01/97 05/01/27 11.875 10.875 17.875 7.000
ML163 161446372 88,770.83 05/01/97 04/01/27 11.375 10.375 17.375 7.000
ML163 161446851 34,600.00 06/01/97 05/01/27 12.625 11.625 18.625 6.750
ML163 161446901 115,962.93 06/01/97 05/01/27 11.500 10.500 17.500 7.000
ML163 161447529 92,000.00 06/01/97 05/01/27 12.500 11.500 18.500 7.250
ML163 161448154 117,300.00 06/01/97 05/01/27 11.250 10.250 17.250 6.500
ML163 161448303 280,000.00 06/01/97 05/01/27 10.000 9.000 16.000 5.250
ML163 161448428 64,000.00 06/01/97 05/01/27 9.875 8.875 15.875 5.000
ML163 161448451 239,893.83 06/01/97 05/01/27 10.000 9.000 16.000 5.250
ML163 161448923 73,500.00 06/01/97 05/01/27 11.000 10.000 17.000 5.750
ML163 161449145 139,931.90 05/01/97 04/01/27 12.750 11.750 18.750 7.000
ML163 161449327 91,000.00 06/01/97 05/01/27 12.375 11.375 18.375 6.750
ML163 161451018 53,534.68 05/01/97 04/01/27 12.000 11.000 18.000 7.500
ML163 161452370 132,000.00 06/01/97 05/01/27 12.875 11.875 18.875 8.250
ML163 161453527 53,900.00 07/01/97 06/01/27 9.750 8.750 15.750 5.250
ML163 161453808 159,923.35 05/01/97 04/01/27 9.625 9.625 15.625 6.250
ML163 161455027 41,100.00 06/01/97 05/01/27 11.625 10.625 17.625 6.000
ML163 161455597 81,000.00 06/01/97 05/01/27 10.750 9.750 16.750 6.250
ML163 161456066 64,400.00 07/01/97 06/01/27 9.750 8.750 15.750 5.250
ML163 161456637 45,884.07 05/01/97 04/01/27 11.125 11.125 17.125 7.500
ML163 161459367 85,600.00 06/01/97 05/01/27 11.625 10.625 17.625 6.000
ML163 161459433 63,672.56 06/01/97 05/01/27 10.125 9.125 16.125 5.000
ML163 161459581 289,000.00 06/01/97 05/01/27 11.375 10.375 17.375 7.750
ML163 161459649 64,300.00 06/01/97 05/01/27 10.750 9.750 16.750 5.750
ML163 161459961 56,000.00 06/01/97 05/01/27 10.875 9.875 16.875 6.000
ML163 161459995 137,832.17 05/01/97 04/01/27 9.500 8.500 15.500 5.000
ML163 161460118 131,200.00 07/01/97 06/01/27 11.125 11.125 17.125 7.250
ML163 161460175 147,205.45 06/01/97 05/01/27 9.625 9.625 15.625 5.750
ML163 161460423 146,740.07 06/01/97 05/01/27 10.375 10.375 16.375 6.250
ML163 161460449 130,000.00 06/01/97 05/01/27 12.625 11.625 18.625 6.750
ML163 161460522 107,500.00 06/01/97 05/01/27 10.250 10.250 16.250 6.000
ML163 161460670 423,750.00 06/01/97 05/01/27 10.250 9.250 16.250 5.500
ML163 161461389 80,767.89 06/01/97 05/01/27 10.500 9.500 16.500 6.250
ML163 161461413 280,500.00 06/01/97 05/01/27 11.500 10.500 17.500 6.500
ML163 161461421 85,400.00 06/01/97 05/01/27 11.625 10.625 17.625 6.000
ML163 161461454 84,800.00 06/01/97 05/01/27 13.125 12.125 19.125 7.500
ML163 161461967 116,000.00 07/01/97 06/01/27 10.875 9.875 16.875 6.000
ML163 161463443 67,375.96 06/01/97 05/01/27 11.000 10.000 17.000 5.750
ML163 161463591 59,200.00 06/01/97 05/01/27 11.250 10.250 17.250 6.500
ML163 161464045 32,200.00 06/01/97 05/01/27 11.625 10.625 17.625 6.000
ML163 161464177 159,814.86 06/01/97 05/01/27 9.125 9.125 15.125 5.500
ML163 161464227 30,000.00 07/01/97 06/01/27 10.000 10.000 16.000 5.750
ML163 161464268 76,472.72 06/01/97 05/01/27 11.000 10.000 17.000 6.250
ML163 161464979 100,400.00 06/01/97 05/01/27 10.250 9.250 16.250 5.250
</TABLE>
<PAGE>
Page 4 6/24/97
ALLIANCE FUNDING COMPANY
A DIVISION OF SUPERIOR BANK FSB
SALE SCHEDULE A
1997-2 CLASS 2 - INITIAL POOL OF ADJUSTABLE RATE MORTGAGES - SETTLEMENT 6/25/97
<TABLE>
<CAPTION>
Principal
Zip Balance at
Sale ID Account Name Address City State Code Origination
- ------------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C>
ML163 161465000 BAIZ HASSAN 6735 WINTHROP DETROIT MI 48228 44,000.00
ML163 161465257 CARR TERRY L 5125 CHINOOK DR NE TACOMA WA 98422 182,350.00
ML163 161465760 THOMAS ROBERT L 652 NORTH LOCKWOOD CHICAGO IL 60644 38,000.00
ML163 161465786 ALLENBAUGH RICHARD 9400 W OAK RIDGE DRIVE ST. JOHN IN 46373 174,200.00
ML163 161466073 KAPILLA KEITH 201 MUNGER HOLLY MI 48442 150,000.00
ML163 161466305 CRANE I J 4015 SOUTH OLIVE STREET DENVER CO 80237 217,600.00
ML163 161466560 SARNO B MICHAEL 1030 EAST MADDOCK ROAD PHOENIX AZ 85027 84,000.00
ML163 161467261 SAMESHIMA HOWARD S 11547 BIRCH STREET DENVER CO 80223 96,900.00
ML163 161467287 POMERLEAU LISA DAWN 948 BITTERBUSH LANE FORT COLLINS CO 80526 119,000.00
ML163 161467360 BURNS ROBERT H 2849 SOUTH 700 EAST SALT LAKE CITY UT 84106 129,500.00
ML163 161467758 LURIE STEVEN R. 7415 TRIPP SKOKIE IL 60076 154,700.00
ML163 161468889 RAMIREZ MANUEL E 3433-3435 HUMBOLDT STREET DENVER CO 80205 75,650.00
ML163 161468913 GURLEY JOHN 2133 SOUTH LINMAR COURT FLAGSTAFF AZ 86001 91,000.00
ML163 161468947 HELMICK GORDON 490 EAST NIAGRA CIRCLE GRAND JUNCTION CO 81501 75,600.00
ML163 161469085 MICZO ALAN 5662 SOUTH CALANN DRIVE SALT LAKE CITY UT 84121 195,500.00
ML163 161469630 DEAN KENNETH 337 SOUTH 400 WEST TOOELE UT 84074 92,000.00
ML163 161469903 CONSAMUS JAMES R 599 WAKEFIELD COURT NAPERVILLE IL 60563 139,500.00
ML163 161470059 ANDERSON JOHN 1535 SOUTH SAWYER CHICAGO IL 60623 102,000.00
ML163 161470083 CARILLON RALPH D JR 1340 MOUNT PLEASANT STREET NORTH CANTON OH 44721 200,000.00
ML163 161470190 SOTO ROBERTO 2425 N LUNA CHICAGO IL 60639 100,000.00
ML163 161470232 BOROWSKI LINDA M E9051 KLATT ROAD NEW LONDON WI 54961 63,700.00
ML163 161471024 ROBINSON CALVIN D 8842 S MARSHFIELD AVE CHICAGO IL 60620 67,500.00
ML163 161471503 NELSON DOUGLAS V 8600 SOUTH WARHAWK ROAD CONIFER CO 80433 105,000.00
ML163 161471719 FANNIN JOSEPH K 7 TAMARADE DRIVE LITTLETON CO 80127 633,600.00
ML163 161472261 HANDLEY CYNTHIA 5742 DON PASQUALE DRIVE SW ALBUQUERQUE NM 87105 71,100.00
ML163 161472394 FIELDS ADAM 8735 WEST INDORE DRIVE LITTLETON CO 80123 119,000.00
ML163 161472469 NELSON LORI W 9121 SOUTH DESPAIN WAY SANDY UT 84093 182,750.00
ML163 161472592 COLE ALEXANDER 1726 LELAND AVENUE EVANSTON IL 60201 122,000.00
ML163 161472832 WHITE MOIRA 2970 SOUTH REVERE STREET AURORA CO 80014 86,400.00
ML163 161473046 GRAND-PRE JAMES V 828 EAST LARKSPUR DRIVE SANDY UT 84094 97,200.00
ML163 161473137 MCINTURFF MIKE C E 5232 EAST LINDSTROM LANE MESA AZ 85215 64,000.00
ML163 161473830 MILLER KAREN 2901 S CHEROKEE STREET ENGLEWOOD CO 80110 85,600.00
ML163 161474127 BALLARD STEPHENSON R 1016 DELTA DRIVE LAFAYETTE CO 80026 154,700.00
ML163 161474531 MANLEY DAVID 746 EAST 12TH STREET CRAIG CO 81625 63,200.00
ML163 161474721 DUNCAN ORVILLE JR 928 EAST OREGON AVENUE PHOENIX AZ 85014 78,800.00
ML163 161475454 MORALES CYNTHIA 1776 SOUTH WELCH CIRCLE LAKEWOOD CO 80228 118,150.00
ML163 161475934 HENSLEY LINDA E 190 WATERSEDGE #202 GLENDALE HEIGHTS IL 60139 62,900.00
ML163 161479894 FALLOWS JESSE 1333 NORTH 2890 WEST CLINTON UT 84015 104,220.00
--------------------------------------- -----------------
97 Sale Total 11,544,996.00
<CAPTION>
Initial Minimum Maximum
Cut-off Date First Mort- Mort- Mort-
Principal Payment Maturity gage gage gage Gross
Sale ID Account Balance Date Date Rate Rate Rate Margin
- ---------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C>
ML163 161465000 44,000.00 06/01/97 05/01/27 12.375 11.375 18.375 8.250
ML163 161465257 182,350.00 06/01/97 05/01/27 13.750 12.750 19.750 8.500
ML163 161465760 38,000.00 06/01/97 05/01/27 12.625 11.625 18.625 6.750
ML163 161465786 174,200.00 06/01/97 05/01/27 11.375 11.375 17.375 7.250
ML163 161466073 150,000.00 06/01/97 05/01/27 10.500 9.500 16.500 6.500
ML163 161466305 217,600.00 06/01/97 05/01/27 12.500 11.500 18.500 7.250
ML163 161466560 84,000.00 06/01/97 05/01/27 9.750 8.750 15.750 5.000
ML163 161467261 96,900.00 06/01/97 05/01/27 9.625 9.625 15.625 5.750
ML163 161467287 119,000.00 06/01/97 05/01/27 11.250 10.250 17.250 6.500
ML163 161467360 129,436.30 06/01/97 05/01/27 9.500 8.500 15.500 4.750
ML163 161467758 154,700.00 06/01/97 05/01/27 8.625 8.625 14.625 4.500
ML163 161468889 75,602.98 06/01/97 05/01/27 8.375 8.375 14.375 4.500
ML163 161468913 91,000.00 06/01/97 05/01/27 8.875 7.875 14.875 3.750
ML163 161468947 75,600.00 06/01/97 05/01/27 11.500 10.500 17.500 6.750
ML163 161469085 195,500.00 06/01/97 05/01/27 11.125 10.125 17.125 6.250
ML163 161469630 92,000.00 06/01/97 05/01/27 10.375 9.375 16.375 5.500
ML163 161469903 139,500.00 06/01/97 05/01/27 10.375 9.375 16.375 5.000
ML163 161470059 102,000.00 06/01/97 05/01/27 9.875 8.875 15.875 4.750
ML163 161470083 200,000.00 06/01/97 05/01/27 7.875 7.875 13.875 3.750
ML163 161470190 99,968.91 06/01/97 05/01/27 11.625 10.625 17.625 6.250
ML163 161470232 63,700.00 06/01/97 05/01/27 11.625 10.625 17.625 6.000
ML163 161471024 67,500.00 07/01/97 06/01/27 11.625 10.625 17.625 6.000
ML163 161471503 104,951.02 06/01/97 05/01/27 9.750 8.750 15.750 5.000
ML163 161471719 633,600.00 06/01/97 05/01/27 10.375 10.375 16.375 6.500
ML163 161472261 71,100.00 07/01/97 06/01/27 10.500 9.500 16.500 5.750
ML163 161472394 118,948.74 06/01/97 05/01/27 10.125 10.125 16.125 6.250
ML163 161472469 182,750.00 06/01/97 05/01/27 11.250 10.250 17.250 6.500
ML163 161472592 121,927.98 06/01/97 05/01/27 8.625 8.625 14.625 4.750
ML163 161472832 86,400.00 06/01/97 05/01/27 10.250 9.250 16.250 5.500
ML163 161473046 97,200.00 06/01/97 05/01/27 11.125 10.125 17.125 6.000
ML163 161473137 63,968.52 06/01/97 05/01/27 9.500 8.500 15.500 4.750
ML163 161473830 85,600.00 07/01/97 06/01/27 7.375 7.375 13.375 3.750
ML163 161474127 154,700.00 07/01/97 06/01/27 9.625 9.625 15.625 5.750
ML163 161474531 63,200.00 07/01/97 06/01/27 10.625 9.625 16.625 6.750
ML163 161474721 78,800.00 06/01/97 05/01/27 12.875 11.875 18.875 8.000
ML163 161475454 118,150.00 07/01/97 06/01/27 11.250 10.250 17.250 6.500
ML163 161475934 62,900.00 06/01/97 05/01/27 10.500 9.500 16.500 5.500
ML163 161479894 104,220.00 07/01/97 06/01/27 8.625 8.625 14.625 5.000
------------- --------------------------------
11,542,634.78 10.729 10.051 16.729 6.177
</TABLE>
<PAGE>
Page 5 6/24/97
ALLIANCE FUNDING COMPANY
A DIVISION OF SUPERIOR BANK FSB
SALE SCHEDULE A
1997-2 CLASS 2 - INITIAL POOL OF ADJUSTABLE RATE MORTGAGES - SETTLEMENT 6/25/97
<TABLE>
<CAPTION>
Principal
Zip Balance at
Sale ID Account Name Address City State Code Origination
- ------------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C>
ML166 161233119 SMITH GLENTON A 25 MOUNTAIN DRIVE WEST ORANGE NJ 07052 240,000.00
ML166 161400007 WEIMER GENE L JR 26435 NORTH 42ND PLACE PHOENIX AZ 85024 135,000.00
ML166 161429303 LOSH PHILIP 8420 SW UMATILLA STREET TUALATIN OR 97062 123,000.00
ML166 161439054 JOHNSON MARY L 6539 SOUTH ABERDEEN ST CHICAGO IL 60621 45,700.00
ML166 161441019 FLOWERS BRIAN 16265 MAPLE JOLIET IL 60432 191,200.00
ML166 161447362 BENTON H DAVID 7964 FAIRCREST YPSILANTI MI 48197 143,600.00
ML166 161449111 BULLS OWEN JR 2820-22 WEST 30TH STREET ZION IL 60099 134,400.00
ML166 161449426 TRIPP ROBERT 6550 BLACKMAN RD JACKSON MI 49202 130,500.00
ML166 161452792 BARNUM FRANK G 6216 MAPLE VIEW DRIVE BREMERTON WA 98312 64,400.00
ML166 161455241 WOUDSTRA STEVEN 6000 OLD FLINT ROAD WHITE LAKE MI 48383 158,950.00
ML166 161457312 HARMON JAMES 426 WATER STREET MEEKER CO 81641 52,000.00
ML166 161460506 CARR DERRELL 17150 CEDARCROFT PLACE SOUTHFIELD MI 48076 176,300.00
ML166 161461355 RUHLMAN STEVEN 1761 CENTRAL FERNDALE MI 48220 80,500.00
ML166 161461397 CHURCHILL JAMES 2529 FOREST STREET PORT HURON MI 48060 61,200.00
ML166 161462361 VANDERFORD R SCOTT 19821 SILVERY SPRINGS SOUTHFIELD MI 48076 76,000.00
ML166 161463252 LAUVE JOHN 807 E BAIRD HOLLY MI 48442 85,000.00
ML166 161463468 BOJI CARLINA J 35290 DEWBERRY FARMINGTON HILLS MI 48331 168,800.00
ML166 161464029 MCCARTHY SUSAN 21 SOUTH WEBSTER LANE SCHAUMBURG IL 60193 100,000.00
ML166 161464235 MCDONALD BRENT 40 BEACHWAY WHITMORE LAKE MI 48189 73,500.00
ML166 161464243 BURKHAMMER MARK 7649 FLAMINGO BLVD WESTLAND MI 48185 106,100.00
ML166 161465299 IQBAL SHAHID 23502 SE 253RD PLACE MAPLE VALLEY WA 98038 293,250.00
ML166 161467188 HORAN ROBERT SR 9023 SHADY TREE LANE INDIANAPOLIS IN 46256 128,700.00
ML166 161468558 JOHNSON LONNIE 4172 HAMPSHIRE PLACE COLORADO SPRINGS CO 80906 228,000.00
ML166 161468665 GLOVER DAVID 10412 SOUTH BELL AVENUE CHICAGO IL 60643 152,900.00
ML166 161468822 SHAFFETT JOSEPH 8819 118TH AVENUE SE NEWCASTLE WA 98056 88,900.00
ML166 161469275 MALOUFF PETER 7889 APPLEWOOD LANE DENVER CO 80221 93,600.00
ML166 161469770 NIELSON HARLAN 3423 EAST WINESAP ROAD SALT LAKE CITY UT 84121 176,000.00
ML166 161470042 ANDERSON JOHN 1541 SOUTH SAWYER AVENUE CHICAGO IL 60623 90,000.00
ML166 161470307 KLEMENS ROBERT J 47759 WALDEN MACOMB MI 48044 119,600.00
ML166 161471206 PIRAU JOHN 574-76 W GOLDEN GATE DETROIT MI 48203 48,000.00
ML166 161471339 GUISTO JAIME F 616 CLEAR LAKE STREET DANVILLE CA 94506 387,900.00
ML166 161473640 PUDDY FRANK 2451 LITER ORION MI 48359 80,700.00
ML166 161473657 GARDNER ROBERT C 18501 SPRUCE COURT RIVERVIEW MI 48192 133,450.00
ML166 161473780 CAMPBELL TIMOTHY 285 WINDSOR ROAD POINT ROBERTS WA 98281 80,750.00
ML166 161474390 LOEFFLER ARLENE W 5520 CLINTON RIVER WATERFORD MI 48327 76,000.00
ML166 161474416 SMITH BEVERLY J 18624 STRASBURG DETROIT MI 48205 43,200.00
ML166 161475033 TERMOS MOUNIR 7535 MANOR DEARBORN MI 48126 46,100.00
ML166 161476080 JAKOVLJEVIC VIKTOR 2639 WEST HOMER CHICAGO IL 60622 233,600.00
ML166 161476189 WEGMANN JEFFREY 15383 WILLIAMS LIVONIA MI 48164 119,800.00
ML166 161477187 GAUTHIER JOSEPH 861 WOODINGHAM WATERFORD MI 48328 114,300.00
ML166 161477880 MILLER PATRICK II 82 MIRACLE TROY MI 48084 162,000.00
ML166 161478037 MEDICI JEAN MARIE 5920 SOUTH SULTAN CIRCLE MURRAY UT 84107 54,000.00
ML166 161478839 WILLIAMS DONETT J 4014 CLAYBORN ROAD LANSING MI 48911 57,300.00
ML166 161479191 MCDONALD COLETTE 23395 COUNTY ROAD 50 FRASER CO 80442 94,850.00
ML166 161479290 DELATORRE MARIA 3116 HOLLY HILL AVENUE LAS VEGAS NV 89104 90,900.00
ML166 161479621 PETTY JOHN L 5446 VINCENT WATERFORD MI 48327 81,000.00
ML166 161479811 SIPAT WILFREDO 2322 GIANERA STREET SANTA CLARA CA 95054 309,308.00
ML166 161482054 WIORSKI RONALD 6700 WEST RAVEN CHICAGO IL 60631 112,500.00
ML166 161485081 BEDELL ELBERT 10160 GREEN RD GOODRICH MI 48438 115,900.00
ML166 161485214 WOKASCH GREGORY I 350 FOUR MILE CANYON DRIVE BOULDER CO 80302 365,500.00
--------------------------------------- -----------------
50 Sale Total 6,524,158.00
<CAPTION>
Initial Minimum Maximum
Cut-off Date First Mort- Mort- Mort-
Principal Payment Maturity gage gage gage Gross
Sale ID Account Balance Date Date Rate Rate Rate Margin
- --------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C>
ML166 161233119 239,029.92 09/01/96 08/01/26 9.625 9.625 15.625 5.750
ML166 161400007 134,776.68 02/01/97 01/01/27 10.375 10.375 16.375 6.750
ML166 161429303 123,000.00 07/01/97 06/01/27 9.875 8.875 15.875 5.000
ML166 161439054 45,700.00 07/01/97 06/01/27 11.625 10.625 17.625 6.000
ML166 161441019 191,200.00 07/01/97 06/01/27 10.375 10.375 16.375 6.500
ML166 161447362 143,600.00 07/01/97 06/01/27 9.625 9.625 15.625 7.250
ML166 161449111 134,330.50 05/01/97 04/01/27 10.500 9.500 16.500 6.250
ML166 161449426 130,500.00 07/01/97 06/01/27 11.625 10.625 17.625 6.750
ML166 161452792 64,400.00 07/01/97 06/01/27 9.625 8.625 15.625 5.000
ML166 161455241 158,891.76 06/01/97 05/01/27 10.875 10.875 16.875 7.500
ML166 161457312 52,000.00 06/01/97 05/01/27 9.500 8.500 15.500 5.000
ML166 161460506 176,300.00 06/01/97 05/01/27 11.750 10.750 17.750 6.750
ML166 161461355 80,500.00 06/01/97 05/01/27 8.375 7.375 14.375 4.750
ML166 161461397 61,200.00 06/01/97 05/01/27 10.875 10.875 16.875 7.250
ML166 161462361 76,000.00 07/01/97 06/01/27 9.875 8.875 15.875 5.000
ML166 161463252 85,000.00 06/01/97 05/01/27 9.500 8.500 15.500 4.500
ML166 161463468 168,800.00 07/01/97 06/01/27 11.500 11.500 17.500 7.250
ML166 161464029 100,000.00 07/01/97 06/01/27 10.250 9.250 16.250 5.250
ML166 161464235 73,500.00 07/01/97 06/01/27 9.750 8.750 15.750 6.250
ML166 161464243 106,100.00 07/01/97 06/01/27 7.875 7.875 13.875 5.500
ML166 161465299 293,250.00 06/01/97 05/01/27 12.500 11.500 18.500 7.750
ML166 161467188 128,700.00 06/01/97 05/01/27 9.875 9.875 15.875 5.750
ML166 161468558 228,000.00 07/01/97 06/01/27 11.875 10.875 17.875 7.000
ML166 161468665 152,900.00 07/01/97 06/01/27 10.500 9.500 16.500 5.750
ML166 161468822 88,900.00 07/01/97 06/01/27 12.500 11.500 18.500 7.250
ML166 161469275 93,600.00 07/01/97 06/01/27 9.750 8.750 15.750 5.250
ML166 161469770 176,000.00 07/01/97 06/01/27 10.625 9.625 16.625 5.750
ML166 161470042 90,000.00 07/01/97 06/01/27 8.875 8.875 14.875 5.000
ML166 161470307 119,600.00 06/01/97 05/01/27 11.000 10.000 17.000 6.250
ML166 161471206 48,000.00 07/01/97 06/01/27 12.500 11.500 18.500 7.250
ML166 161471339 387,900.00 07/01/97 06/01/27 9.375 9.375 15.375 5.750
ML166 161473640 80,700.00 07/01/97 06/01/27 9.500 8.500 15.500 5.500
ML166 161473657 133,450.00 06/01/97 05/01/27 10.250 9.250 16.250 5.500
ML166 161473780 80,750.00 07/01/97 06/01/27 9.875 9.875 15.875 6.000
ML166 161474390 76,000.00 07/01/97 06/01/27 13.000 12.000 19.000 8.500
ML166 161474416 43,200.00 07/01/97 06/01/27 10.500 9.500 16.500 5.750
ML166 161475033 46,100.00 06/01/97 05/01/27 12.375 11.375 18.375 8.250
ML166 161476080 233,600.00 07/01/97 06/01/27 7.375 7.375 13.375 4.750
ML166 161476189 119,800.00 07/01/97 06/01/27 10.625 10.625 16.625 7.500
ML166 161477187 114,300.00 07/01/97 06/01/27 10.750 9.750 16.750 6.750
ML166 161477880 162,000.00 07/01/97 06/01/27 10.500 9.500 16.500 6.750
ML166 161478037 53,985.39 06/01/97 05/01/27 12.250 11.250 18.250 7.000
ML166 161478839 57,300.00 06/01/97 05/01/27 10.125 10.125 16.125 7.500
ML166 161479191 94,850.00 07/01/97 06/01/27 8.625 8.625 14.625 5.000
ML166 161479290 90,900.00 07/01/97 06/01/27 10.250 9.250 16.250 5.750
ML166 161479621 81,000.00 07/01/97 06/01/27 9.625 9.625 15.625 6.750
ML166 161479811 309,308.00 07/01/97 06/01/27 8.875 7.875 14.875 5.000
ML166 161482054 112,500.00 07/01/97 06/01/27 12.375 11.375 18.375 6.750
ML166 161485081 115,900.00 07/01/97 06/01/27 10.375 9.375 16.375 5.500
ML166 161485214 365,500.00 07/01/97 06/01/27 10.875 9.875 16.875 6.250
------------ --------------------------------
6,522,822.25 10.351 9.731 16.351 6.182
</TABLE>
<PAGE>
Page 6 6/24/97
ALLIANCE FUNDING COMPANY
A DIVISION OF SUPERIOR BANK FSB
SALE SCHEDULE A
1997-2 CLASS 2 - INITIAL POOL OF ADJUSTABLE RATE MORTGAGES - SETTLEMENT 6/25/97
<TABLE>
<CAPTION>
Principal
Zip Balance at
Sale ID Account Name Address City State Code Origination
- ------------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C>
ML167 161410113 WILLIAMS ROGER S 3851 CONSTITUTION DR CARMEL IN 46032 112,500.00
ML167 161427158 GLENN PATRICIA M 14864 LAUDER DETROIT MI 48227 34,000.00
ML167 161457254 LINDSAY RICHARD 2267 EAST MELODIE ANN WAY SALT LAKE CITY UT 84124 246,400.00
ML167 161458997 WAGONER WALT E 3726 SOUTH 2025 WEST ROY UT 84067 71,920.00
ML167 161464078 NEIHARDT LYNETTE 1122 NORTH WEBSTER NAPERVILLE IL 60563 116,000.00
ML167 161468186 PADDILLA CINDIE 1532 SOUTH BENTON STREET LAKEWOOD CO 80232 86,700.00
ML167 161471149 BRAXTON KEVIN 11 E 116TH STREET CHICAGO IL 60628 52,000.00
ML167 161471867 CANNON CLIFFORD 357 EAST 68TH STREET CHICAGO IL 60637 32,500.00
ML167 161472774 KUHARY GEORGE 4148 ROOSEVELT DEARBORN HEIGHTS MI 48125 91,600.00
ML167 161473020 WILKS SANDRA N 16711 CAMP DAY LANE KLAMATH FALLS OR 97627 68,000.00
ML167 161473541 MALAK ANDREW T. 230 ILLINOIS STREET LEMONT IL 60439 38,400.00
ML167 161475801 SWIATKIEWICZ LYNDA R 8424 COVE LANDING AVENUE LAS VEGAS NV 89128 93,000.00
ML167 161475975 ENGEL SHARRON S 904 BEECH STREET VALPARAISO IN 46383 54,000.00
ML167 161476130 TADROS MUSA P. 733 SPRUCE ROAD FRANKFORT IL 60423 208,000.00
ML167 161477179 KWAG DONG 46213 POLO CANTON MI 48187 170,000.00
ML167 161477344 ACOBA THOMAS R 2635 SW 335TH COURT FEDERAL WAY WA 98023 135,950.00
ML167 161479647 BRADLEY DENISE 3344 COOK ROAD GRAND BLANC MI 48439 87,200.00
ML167 161479829 SUTT GLENN 1319 STARLITE COURT SE LACEY WA 98503 148,750.00
ML167 161480926 LORIMOR ELLIS 5390 WEST WESCOTT DRIVE GLENDALE AZ 85308 85,400.00
ML167 161481361 RUSIN CASS R 3380 FRANKLIN PARK DRIVE STERLING HEIGHTS MI 48310 141,300.00
ML167 161482302 BOESE DONNA 28 S HICKORY STREET FOND DU LAC WI 54935 66,000.00
ML167 161483383 AMOS KEVIN L 5325 NORTH 38TH STREET MILWAUKEE WI 53209 46,800.00
ML167 161484449 BENTHIN JIM RUSSELL 2241 N 90TH LANE PHOENIX AZ 85037 111,600.00
ML167 161484571 MARMOLEJO ROBERT 930 ABRIENDO AVENUE PUEBLO CO 81004 37,000.00
ML167 161485420 STEINBERG ADAM BRADFORD 1851 PASEO DE LA CONQUISTA SANTA FE NM 87501 106,800.00
ML167 161486444 BANGO DOLORES 1535 WEST MARCO POLO ROAD PHOENIX AZ 85027 60,800.00
ML167 161486493 GARRIGAN MICHAEL 7371 WEST SHANGRI LA ROAD PEORIA AZ 85345 50,400.00
ML167 161487731 JOHANSEN THOMAS W 6330 WEST 53RD AVENUE ARVADA CO 80002 100,000.00
ML167 161488192 LUPRO MAZES 20315 VINING HURON TOWNSHIP MI 48164 150,400.00
ML167 161488390 VERITY JOHN 1350 OLD POND WAY OLD SNOWMASS CO 81654 480,000.00
ML167 161488523 OHDE DALE KENT 0720 JUNE CREEK ROAD EDWARDS CO 81632 400,000.00
ML167 161489950 GIBSON GREGORY W 4345 WILCOX CHICAGO IL 60624 86,100.00
--------------------------------------- -----------------
32 Sale Total 3,769,520.00
<CAPTION>
Initial Minimum Maximum
Cut-off Date First Mort- Mort- Mort-
Principal Payment Maturity gage gage gage Gross
Sale ID Account Balance Date Date Rate Rate Rate Margin
- ---------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C>
ML167 161410113 112,500.00 06/01/97 05/01/27 13.125 12.125 19.125 7.500
ML167 161427158 34,000.00 07/01/97 06/01/27 11.125 10.125 17.125 7.250
ML167 161457254 246,400.00 07/01/97 06/01/27 11.625 10.625 17.625 7.000
ML167 161458997 71,920.00 07/01/97 06/01/27 12.250 11.250 18.250 7.250
ML167 161464078 116,000.00 07/01/97 06/01/27 11.250 11.250 17.250 7.250
ML167 161468186 86,700.00 07/01/97 06/01/27 9.875 9.875 15.875 6.250
ML167 161471149 52,000.00 07/01/97 06/01/27 12.250 11.250 18.250 7.250
ML167 161471867 32,500.00 07/01/97 06/01/27 12.375 11.375 18.375 6.750
ML167 161472774 91,600.00 07/01/97 06/01/27 12.750 11.750 18.750 7.750
ML167 161473020 68,000.00 06/01/97 05/01/27 12.250 11.250 18.250 7.500
ML167 161473541 38,400.00 07/01/97 06/01/27 12.875 11.875 18.875 7.500
ML167 161475801 93,000.00 07/01/97 06/01/27 10.000 9.000 16.000 5.500
ML167 161475975 54,000.00 07/01/97 06/01/27 11.375 10.375 17.375 6.000
ML167 161476130 208,000.00 07/01/97 06/01/27 10.375 10.375 16.375 8.000
ML167 161477179 170,000.00 07/01/97 06/01/27 10.500 9.500 16.500 6.500
ML167 161477344 135,950.00 07/01/97 06/01/27 11.000 10.000 17.000 6.500
ML167 161479647 87,200.00 07/01/97 06/01/27 10.125 9.125 16.125 6.000
ML167 161479829 148,750.00 07/01/97 06/01/27 11.000 10.000 17.000 6.500
ML167 161480926 85,400.00 07/01/97 06/01/27 9.500 8.500 15.500 5.000
ML167 161481361 141,300.00 07/01/97 06/01/27 9.625 8.625 15.625 6.000
ML167 161482302 66,000.00 07/01/97 06/01/27 11.250 11.250 17.250 7.250
ML167 161483383 46,800.00 07/01/97 06/01/27 10.500 9.500 16.500 5.750
ML167 161484449 111,600.00 07/01/97 06/01/27 10.500 9.500 16.500 6.000
ML167 161484571 37,000.00 07/01/97 06/01/27 12.250 11.250 18.250 6.750
ML167 161485420 106,800.00 07/01/97 06/01/27 9.750 8.750 15.750 5.250
ML167 161486444 60,800.00 07/01/97 06/01/27 10.500 9.500 16.500 6.000
ML167 161486493 50,400.00 07/01/97 06/01/27 8.750 7.750 14.750 4.250
ML167 161487731 100,000.00 07/01/97 06/01/27 10.500 9.500 16.500 6.000
ML167 161488192 150,400.00 07/01/97 06/01/27 11.625 10.625 17.625 8.250
ML167 161488390 480,000.00 07/01/97 06/01/27 8.375 8.375 14.375 4.750
ML167 161488523 400,000.00 07/01/97 06/01/27 8.375 8.375 14.375 4.750
ML167 161489950 86,100.00 07/01/97 06/01/27 9.225 9.225 15.225 5.850
------------ -------------------------------
3,769,520.00 10.323 9.705 16.323 6.210
</TABLE>
<PAGE>
Page 7 6/24/97
ALLIANCE FUNDING COMPANY
A DIVISION OF SUPERIOR BANK FSB
SALE SCHEDULE A
1997-2 CLASS 2 - INITIAL POOL OF ADJUSTABLE RATE MORTGAGES - SETTLEMENT 6/25/97
<TABLE>
<CAPTION>
Principal
Zip Balance at
Sale ID Account Name Address City State Code Origination
- ------------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C>
MLC165 180011538 SLATTERY MICHAEL 100 ROSE PLACE SELDEN NY 11784 101,700.00
MLC165 180034415 WALKER RICHARD 47 SOUTH AVENUE CORTLAND NY 13045 24,000.00
MLC165 180037947 RANSOM LILLIE 4414 CEDAR GARDEN RD BALTIMORE MD 21229 48,000.00
MLC165 180043846 BURNS PATRICK 3275 AVACADO DRIVE FORT MYERS FL 33901 142,000.00
MLC165 180046187 TIGRERO SIXTO 46 ROCHELLE PKWY SADDLE BROOK NJ 07663 219,000.00
MLC165 180046278 NAPPO ANTONIO 1320 39TH AVE N SAINT PETERSBURG FL 33703 41,400.00
MLC165 180050353 RUDOW ANTHONY 24234 HARBOR VIEW RD PORT CHARLOTTE FL 33980 56,610.00
MLC165 180052946 HALIM ANTHONY K 1 ROXBURY RD NORWALK CT 06855 204,300.00
MLC165 180053415 BERGER KARLA F 218 FOREST OAK LANE HARRISBURG PA 17110 65,500.00
MLC165 180054835 HOUSER LINDA 218 WEST ST JOSEPH STREET EASTON PA 18042 74,790.00
MLC165 180057242 JOSIE CHRISTINE 1 UNIVERSITY PLACE NEW HAVEN CT 06511 58,500.00
MLC165 180064685 HOLTHAUS PAMELA 500 VILLA GRANDE AVE S SAINT PETERSBURG FL 33707 208,000.00
MLC165 180065096 JUNEAU MICHAEL J 2374 FLINT LOCK DR CLEARWATER FL 34625 149,600.00
MLC165 180066581 SOSA JUAN A 13800 GREENBRIDGE CT ORLANDO FL 32824 74,159.00
MLC165 180067555 VAN SICKLE DALE W 3253 MAYER DR MURRYSVILLE PA 15668 98,300.00
MLC165 180069908 PRUETT JEFFREY S 3319 NORTHLAWN DR TAMPA FL 33618 57,600.00
MLC165 180070484 MAGUIRE MARY M 126 EAST SPRING AVENUE ARDMORE PA 19003 85,500.00
MLC165 180070492 DROR CATHERINE G 785 HANOVER ROAD NEW OXFORD PA 17350 109,650.00
MLC165 180073314 RUSCHAK ELIAS DOUGLAS JR 223 CHURCH STREET TAYLOR PA 18517 30,000.00
MLC165 180079006 VOLOSIN JAMES 5 RIDGE ST MILFORD CT 06460 104,800.00
MLC165 180085045 GIARDINA JENNIFER L 4 PADDOCK COURT LANOKA HARBOR NJ 08734 289,000.00
MLC165 180086126 MCCALLUM ANNMARIE B 6916 100TH AVE LANHAM MD 20706 118,300.00
MLC165 180094070 LANDE TOM GRIEG 17 RIDGE WAY PURDYS NY 10578 108,900.00
MLC165 180096786 BROOKS RICKY G 248 BRISTOL STREET MONCKS CORNER SC 29461 118,000.00
MLC165 180099475 BREMER STEVEN J 1 NASON PKWY LACKAWANNA NY 14128 53,975.00
MLC165 180105645 BACKOS CATHERINE 131 E WYNNEWOOD RD MERION STATION PA 19066 220,000.00
MLC165 180107070 HILL SYNDIA D 104 HULTON LANE SUMMERVILLE SC 29483 100,000.00
MLC165 180107500 BLOCK RICHARD H 69-0 BROOKVIEW DR PLEASANTVILLE NY 10570 548,600.00
MLC165 180110512 NULPH LARRY A RR 1 BOX 7D COWANSVILLE PA 16218 79,780.00
MLC165 180110934 ARGENZIANO NEIL A 600 BEACON AVE BEACHWOOD NJ 08722 107,950.00
MLC165 180112252 THOMAS RUSSELL ALLEN 276 TURNER ROAD PINEHURST NC 28374 52,000.00
MLC165 180120818 JONES JOSEPHINE M 1730 NORTH ABERDEEN STREET PHILADELPHIA PA 19131 35,575.00
MLC165 180126351 HANNON CHRISTINE T 747 MAIN STREET AVOCA PA 18641 60,000.00
MLC165 180128100 NAPOLITANO RICHARD J 2032 ADAMS AVE TOMS RIVER NJ 08753 94,770.00
MLC165 180128621 SCAVONE PHILLIP 48 WILLIAMS ST EDWARDSVILLE PA 18704 38,000.00
MLC165 180132995 STANCU MIRCEA D 12 14 WOOD AVENUE MONTICELLO NY 12701 51,000.00
MLC165 180135121 NUZZO PASQUALINA DI 20-22 OAKLEY ST NEW HAVEN CT 06512 112,500.00
MLC165 180136772 BEDELL PATRICIA E 7806 GRANDVIEW PL MIDDLETOWN MD 21769 220,500.00
MLC165 180137051 HALLAWAY BRENDA COMFORT 1220 MARVIN AVENUE CHARLESTON SC 29407 76,755.00
MLC165 180141004 ALIAGA AUGUSTO 532 LOCUST AVE PORTCHESTER NY 10573 150,875.00
MLC165 180145336 STAPLE GEMLYN 200 LANDSCAPE DRIVE DIX HILLS NY 11746 230,000.00
MLC165 180147498 GARDNER CURTIS L 127 NORTH 14TH STREET EAST ORANGE NJ 07017 77,000.00
MLC165 180148280 HOWELL CARLTON 2525 HALLIE MILL ROAD COLLEGE PARK GA 30349 96,000.00
MLC165 180148538 BANKS ADOLPHUS 53 MARSHALL AVE SCITUATE MA 02066 176,250.00
MLC165 180151565 OWLER WILLIAM G 3 INDEPENDENCE AVENUE CONYNGHAM PA 18219 101,000.00
MLC165 180151938 LEONARD MATTHEW J 991 NORTH CIRCLE DRIVE DOVER PA 17315 60,500.00
MLC165 180153413 GOODWYN EUNICE 1604 POLING AVENUE FORT WASHINGTON MD 20744 129,600.00
MLC165 180153512 HARE ROBERT 306 FERRIS STREET PEEKSKILL NY 10566 124,900.00
MLC165 180159089 BUONO AMY 16 NEW HAVEN AVE ORANGE CT 06477 74,400.00
MLC165 180161515 CIAMMETTI DONNA A 1800 NEW MARKET COURT WEST CHESTER PA 19382 127,000.00
MLC165 180161572 SANDERS STEVE 307 CENTRAL DRIVE GOLDSBORO NC 27530 55,250.00
MLC165 180162018 SCHLEIS DAVID W 115 UPPER ARROWHEAD ROAD PITTSBURGH PA 15237 81,000.00
MLC165 180162992 BRYCHIK JANE F 8040 LONG NEEDLE COURT MURRELLS INLET SC 29576 55,000.00
MLC165 180163313 DRESHER STEVEN A 20 HARDING PLACE HUNTINGTON STATION NY 11746 98,000.00
MLC165 180166407 SULLIVAN LINDA ANN 153 METLARS AVE PISCATAWAY NJ 08854 95,000.00
MLC165 180166951 MORO ROBERT T 6 WINTERBERRY LANE OSSINING NY 10510 234,000.00
MLC165 180170292 BROWN SHARON L 3093 OAK CHASE DRIVE ROSWELL GA 30075 169,600.00
MLC165 180170672 NGUYEN PHONG 6144 50TH AVENUE NORTH ST PETERSBURG FL 33709 62,100.00
MLC165 180172447 WILDMAN VALENTINE 604 UNIVERSITY BLVD SILVER SPRING MD 20901 140,100.00
<CAPTION>
Initial Minimum Maximum
Cut-off Date First Mort- Mort- Mort-
Principal Payment Maturity gage gage gage Gross
Sale ID Account Balance Date Date Rate Rate Rate Margin
- --------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C>
MLC165 180011538 101,499.78 01/01/97 12/01/26 10.625 9.625 16.625 6.250
MLC165 180034415 23,956.40 01/01/97 12/01/26 11.000 11.000 17.000 7.250
MLC165 180037947 47,856.25 01/01/97 12/01/26 8.625 8.625 14.625 4.750
MLC165 180043846 141,803.89 02/01/97 01/01/27 12.250 11.250 18.250 6.750
MLC165 180046187 218,637.72 02/01/97 01/01/27 10.375 10.375 16.375 6.500
MLC165 180046278 41,285.24 02/01/97 01/01/27 9.000 8.000 15.000 4.500
MLC165 180050353 56,500.20 02/01/97 01/01/27 9.625 8.625 15.625 5.750
MLC165 180052946 203,943.52 02/01/97 01/01/27 10.125 9.125 16.125 6.000
MLC165 180053415 65,405.30 02/01/97 01/01/27 11.000 10.000 17.000 6.000
MLC165 180054835 74,655.98 02/01/97 01/01/27 10.000 9.000 16.000 5.750
MLC165 180057242 58,407.79 02/01/97 01/01/27 10.600 9.600 16.600 6.100
MLC165 180064685 207,834.09 03/01/97 02/01/27 12.375 11.375 18.375 7.500
MLC165 180065096 149,383.69 03/01/97 02/01/27 11.000 10.000 17.000 6.500
MLC165 180066581 74,027.53 03/01/97 02/01/27 9.500 8.500 15.500 5.250
MLC165 180067555 98,204.84 03/01/97 02/01/27 11.500 10.500 17.500 7.000
MLC165 180069908 57,515.74 03/01/97 02/01/27 9.625 8.625 15.625 5.000
MLC165 180070484 85,291.89 01/01/97 12/01/26 9.625 9.625 15.625 6.750
MLC165 180070492 109,491.47 03/01/97 02/01/27 11.000 10.000 17.000 6.500
MLC165 180073314 29,967.60 03/01/97 02/01/27 11.000 10.000 17.000 6.000
MLC165 180079006 104,640.00 03/01/97 02/01/27 9.375 8.375 15.375 5.000
MLC165 180085045 288,276.63 12/01/96 11/01/26 10.375 10.375 16.375 7.750
MLC165 180086126 118,172.29 03/01/97 02/01/27 11.000 10.000 17.000 6.000
MLC165 180094070 108,788.67 03/01/97 02/01/27 11.250 10.250 17.250 6.750
MLC165 180096786 117,805.20 03/01/97 02/01/27 9.000 8.000 15.000 4.500
MLC165 180099475 53,910.08 03/01/97 02/01/27 10.500 9.500 16.500 6.000
MLC165 180105645 219,917.17 05/01/97 04/01/27 10.750 9.750 16.750 7.000
MLC165 180107070 99,945.38 05/01/97 04/01/27 9.000 8.000 15.000 4.500
MLC165 180107500 548,125.41 04/01/97 03/01/27 10.125 10.125 16.125 6.750
MLC165 180110512 79,747.43 05/01/97 04/01/27 10.375 9.375 16.375 6.750
MLC165 180110934 107,866.13 04/01/97 03/01/27 10.625 10.625 16.625 6.750
MLC165 180112252 51,976.38 06/01/97 05/01/27 9.875 8.875 15.875 4.750
MLC165 180120818 35,575.00 06/01/97 05/01/27 12.875 11.875 18.875 7.250
MLC165 180126351 59,976.16 06/01/97 05/01/27 10.500 9.500 16.500 7.000
MLC165 180128100 94,713.96 04/01/97 03/01/27 11.875 10.875 17.875 7.250
MLC165 180128621 37,988.82 06/01/97 05/01/27 11.875 10.875 17.875 7.000
MLC165 180132995 51,000.00 06/01/97 05/01/27 11.500 11.500 17.500 6.500
MLC165 180135121 112,455.30 05/01/97 04/01/27 10.500 9.500 16.500 6.000
MLC165 180136772 220,500.00 06/01/97 05/01/27 10.750 9.750 16.750 6.000
MLC165 180137051 76,715.21 05/01/97 04/01/27 9.250 8.250 15.250 4.500
MLC165 180141004 150,875.00 06/01/97 05/01/27 11.750 10.750 17.750 7.750
MLC165 180145336 229,934.19 05/01/97 04/01/27 12.000 11.000 18.000 8.250
MLC165 180147498 76,956.83 06/01/97 05/01/27 8.875 8.875 14.875 6.250
MLC165 180148280 96,000.00 06/01/97 05/01/27 9.625 8.625 15.625 5.000
MLC165 180148538 176,172.03 06/01/97 05/01/27 10.000 10.000 16.000 6.000
MLC165 180151565 101,000.00 06/01/97 05/01/27 10.750 9.750 16.750 5.750
MLC165 180151938 60,500.00 06/01/97 05/01/27 9.375 8.375 15.375 4.750
MLC165 180153413 129,564.93 06/01/97 05/01/27 12.250 11.250 18.250 7.250
MLC165 180153512 124,900.00 06/01/97 05/01/27 11.500 11.500 17.500 8.500
MLC165 180159089 74,400.00 06/01/97 05/01/27 8.375 8.375 14.375 5.500
MLC165 180161515 127,000.00 06/01/97 05/01/27 9.500 8.500 15.500 4.500
MLC165 180161572 55,230.83 06/01/97 05/01/27 11.125 10.125 17.125 6.250
MLC165 180162018 81,000.00 06/01/97 05/01/27 13.125 12.125 19.125 7.500
MLC165 180162992 55,000.00 06/01/97 05/01/27 8.875 7.875 14.875 3.750
MLC165 180163313 98,000.00 06/01/97 05/01/27 9.875 9.875 15.875 6.500
MLC165 180166407 95,000.00 06/01/97 05/01/27 11.500 11.500 17.500 7.750
MLC165 180166951 233,893.70 06/01/97 05/01/27 9.875 8.875 15.875 4.750
MLC165 180170292 169,545.80 06/01/97 05/01/27 11.500 11.500 17.500 7.500
MLC165 180170672 62,100.00 06/01/97 05/01/27 9.875 8.875 15.875 5.000
MLC165 180172447 140,100.00 06/01/97 05/01/27 11.500 11.500 17.500 7.250
</TABLE>
<PAGE>
Page 8 6/24/97
ALLIANCE FUNDING COMPANY
A DIVISION OF SUPERIOR BANK FSB
SALE SCHEDULE A
1997-2 CLASS 2 - INITIAL POOL OF ADJUSTABLE RATE MORTGAGES - SETTLEMENT 6/25/97
<TABLE>
<CAPTION>
Principal
Zip Balance at
Sale ID Account Name Address City State Code Origination
- ------------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C>
MLC165 180172512 WANZER SYLVIA M 2601 QUEEN ANNE RD BALTIMORE MD 21216 95,000.00
MLC165 180174864 SHEPARD MELVIN 1010 SELINGER AVENUE ERIE PA 16505 45,600.00
MLC165 180176208 MARRETTA SUSAN 55 LINCOLN ST STATEN ISLAND NY 10314 210,000.00
MLC165 180179715 COX JAMES N 418 ERIE AVENUE QUAKERTOWN PA 18951 102,000.00
MLC165 180186108 UMHOEFER LEONARD J JR 9724 SAN LORENZO WAY PORT RICHEY FL 34668 81,600.00
MLC165 180186157 RYAN THOMAS N 990 NORTHEAST AVENUE TALLMADGE OH 44278 120,000.00
MLC165 180187197 RIDER JOSEPH W 3200 SUNDALE ROAD COLUMBUS OH 43232 81,000.00
MLC165 180188013 WUJCIK JEFFREY A 729 BARBARA STREET PALM HARBOR FL 34684 12,000.00
MLC165 800110884 HAWKINS STANLEY J 1 EVERDELL STREET FAR ROCKAWAY NY 11691 97,500.00
MLC165 800117830 BEGANE CHERYL 266 CLEVELAND AVE LONG BRANCH NJ 07740 133,600.00
MLC165 800122483 MORRONE THOMAS J 14 ARBOUR LN MULLICA HILL NJ 08062 119,000.00
MLC165 800124133 IENGO DOMINICK 26 RODERICK AVE STATEN ISLAND NY 10305 161,000.00
MLC165 800124653 HIRD WILLIAM H 401 LAUREL SUSQUEHANNA PA 18847 69,300.00
MLC165 800128183 TAUBE RICHARD B 389 SHALER BLVD RIDGEFIELD NJ 07657 180,000.00
MLC165 800132342 BROOKS JAIMEE 719 SERGEANTSVILLE RD STOCKTON NJ 08559 124,000.00
MLC165 800133290 ALFELOR MD FILIPINAS R 9 ZEPHYR AVE STATEN ISLAND NY 10312 450,000.00
MLC165 800133548 BOWMAN SCOTT H 412 S WATER ST BIRDSBORO PA 19508 96,300.00
MLC165 800137457 MORRA ERNEST A 19 N BROOK AVE BASKING RIDGE NJ 07920 238,000.00
MLC165 800146060 KUNDER PATSY W 412 S FREDERICK STREET MECHANICSBURG PA 17055 88,200.00
MLC165 800147670 BONNER BRIAN 378 TWIN STREET ATLANTA GA 30312 62,050.00
MLC165 800148348 SQUINDO RICHARD 5 WALNUT STREET JAMESBURG NJ 08831 130,000.00
MLC165 800149015 STEWART ROSEMARIE 2547 BEDFORD AVE BROOKLYN NY 11226 170,000.00
MLC165 800149320 LEWIS JAMES 5599 KINGS HWY BROOKLYN NY 11203 110,000.00
MLC165 800151029 MCGHIE BRETT 16 MAIDEN LANE MAHOPAC NY 10541 115,000.00
MLC165 800152142 TROPASSO DEBRA V 819 WALNUT STREET LEBANON PA 17042 44,540.00
MLC165 800153306 DOLAN PAUL J 932 CRESCENT AVENUE SEWICKLEY PA 15143 58,650.00
MLC165 800158230 DEGENHARDT HERBERT 308 CLARENDON STREET SECAUCUS NJ 07094 133,000.00
MLC165 800159881 DENNY PAUL F 32 SUNSET DR SAG HARBOR NY 11963 103,080.00
MLC165 800160624 KUNTZ DOROTHY 400 CANAL STREET LEHIGHTON PA 18235 72,000.00
MLC165 800161556 STALEY BOB P 1 ROAD BOX 197 HOMERS GAP PA 16601 52,200.00
MLC165 800162117 LEVINE ALAN 17 FENTON DRIVE MILLBURN TWP NJ 07041 196,000.00
MLC165 800164303 GARNER RONALD R 59 CARDINAL DRIVE HANOVER PA 17331 95,850.00
MLC165 800164782 EDWARDS ALICE 171- 173 SCRANTON STREET NEW HAVEN CT 06511 63,000.00
MLC165 800165466 MORATORI JANET 868 MAIN STREET SUGAR NOTCH PA 18706 108,800.00
MLC165 800169823 DANZA JOSEPH 4029 DANCING RIDGE ROAD EAST STROUDSBURG PA 18301 54,000.00
MLC165 800170193 MATHIS LILLIE MAE 1874 PARK BOULEVARD CAMDEN NJ 08302 47,600.00
MLC165 800170912 HEBB STACY A 635 34TH AVENUE NORTHEAST ST PETERSBURG FL 33704 99,000.00
MLC165 800171084 STEVENSON RICHARD J 68 ROBERT ROAD EPHRATA PA 17522 83,300.00
MLC165 800171969 JAMES VIRGINIA C 58 LITTLE NECK RD CENTERPORT NY 11721 216,000.00
MLC165 800172215 RICE RANDY R 406 BELVIDERE ST NAZARETH PA 18064 178,925.00
MLC165 800172256 MARRERO BEL 94-02 FORBELL STREET OZONE PARK NY 11416 148,000.00
MLC165 800173783 KOCH DAVID 15 SHERWOOD AVENUE RAMSEY NJ 07446 198,000.00
MLC165 800174666 VALENTIN CYNTHIA M 6129 43RD AVENUE NORTH KENNETH CITY FL 33709 62,910.00
MLC165 800175960 NISBET JAMES R 6 SUNSET TRAIL NEW FAIRFIELD CT 06812 125,000.00
MLC165 800176588 CRUZATE MARIO S 3 FRANCES STREET NESCONSET NY 11767 107,100.00
MLC165 800177305 FABRIZIO ALBERT 1133 EAST CHELTENHAM AVE PHILADELPHIA PA 19124 59,310.00
MLC165 800179327 LEE BENJAMIN S 13-39 143RD STREET WHITESTONE NY 11357 206,250.00
MLC165 800183022 DELUZIO CHARLES T 5 MEDAL DRIVE LIMERICK PA 19468 132,152.00
MLC165 800183477 BRASSART JULIAN LAMAR 16715 BRASSART ROAD LUTZ FL 33549 84,000.00
MLC165 800184269 PACE ROBERT L 534 MADISON ST BROOKLYN NY 11221 142,542.00
MLC165 800184897 ROBERTSON ROBERT L 6356 ROSS ST PHILADELPHIA PA 19144 52,500.00
MLC165 800185100 ROBERTSON ROBERT L 1918 DALLAS STREET PHILADELPHIA PA 19138 52,000.00
MLC165 800185191 RABY RICK 1223 HIGHWAY 314 RIVERDALE GA 30296 279,000.00
MLC165 800186736 FREEMAN CHARLES 14327 73RD STREET NORTH LOXAHATCHEE FL 33470 92,700.00
MLC165 800187130 CLARK JOYCE A 10331 ROSEMOUNT DRIVE TAMPA FL 33624 38,000.00
MLC165 800188161 LADEBU BRIAN F 451 GLADE MILL ROAD VALENCIA PA 16059 137,683.00
MLC165 800188427 PRIOLEAU LARRY 2333 OLD HWY 6 CROSS SC 29436 44,200.00
MLC165 800189177 JOHNSON BILLY R 1383 DOE VALLEY DRIVE LITHONIA GA 30058 261,000.00
MLC165 800189805 BAIN MARTHA S 711 49TH AVENUE NORTH ST PETERSBURG FL 33703 41,400.00
<CAPTION>
Initial Minimum Maximum
Cut-off Date First Mort- Mort- Mort-
Principal Payment Maturity gage gage gage Gross
Sale ID Account Balance Date Date Rate Rate Rate Margin
- --------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C>
MLC165 180172512 95,000.00 06/01/97 05/01/27 9.875 9.875 15.875 6.000
MLC165 180174864 45,580.36 06/01/97 05/01/27 10.125 9.125 16.125 5.000
MLC165 180176208 210,000.00 06/01/97 05/01/27 11.000 10.000 17.000 5.750
MLC165 180179715 101,929.81 06/01/97 05/01/27 7.875 7.875 13.875 3.750
MLC165 180186108 81,600.00 06/01/97 05/01/27 10.250 9.250 16.250 5.250
MLC165 180186157 120,000.00 06/01/97 05/01/27 10.250 10.250 16.250 6.000
MLC165 180187197 81,000.00 06/01/97 05/01/27 9.875 9.875 15.875 5.750
MLC165 180188013 12,000.00 06/01/97 05/01/27 9.875 8.875 15.875 5.750
MLC165 800110884 97,500.00 06/01/97 05/01/27 13.500 12.500 19.500 7.750
MLC165 800117830 133,546.91 05/01/97 04/01/27 10.500 9.500 16.500 6.250
MLC165 800122483 119,000.00 06/01/97 05/01/27 8.625 7.625 14.625 4.750
MLC165 800124133 161,000.00 06/01/97 05/01/27 10.000 10.000 16.000 6.625
MLC165 800124653 69,300.00 06/01/97 05/01/27 10.500 9.500 16.500 6.750
MLC165 800128183 180,000.00 06/01/97 05/01/27 11.875 11.875 17.875 8.000
MLC165 800132342 123,968.27 05/01/97 04/01/27 12.500 11.500 18.500 8.500
MLC165 800133290 450,000.00 06/01/97 05/01/27 9.500 9.500 15.500 6.125
MLC165 800133548 96,300.00 06/01/97 05/01/27 10.625 9.625 16.625 7.250
MLC165 800137457 238,000.00 07/01/97 06/01/27 12.000 11.000 18.000 7.500
MLC165 800146060 88,200.00 07/01/97 06/01/27 10.000 9.000 16.000 6.500
MLC165 800147670 62,027.27 05/01/97 04/01/27 10.875 10.875 16.875 7.750
MLC165 800148348 130,000.00 06/01/97 05/01/27 9.250 8.250 15.250 5.750
MLC165 800149015 170,000.00 06/01/97 05/01/27 11.625 10.625 17.625 7.250
MLC165 800149320 110,000.00 06/01/97 05/01/27 13.000 12.000 19.000 7.750
MLC165 800151029 115,000.00 07/01/97 06/01/27 10.750 9.750 16.750 5.750
MLC165 800152142 44,527.26 06/01/97 05/01/27 12.000 11.000 18.000 8.500
MLC165 800153306 58,650.00 07/01/97 06/01/27 11.125 10.125 17.125 6.250
MLC165 800158230 133,000.00 06/01/97 05/01/27 10.375 9.375 16.375 6.000
MLC165 800159881 103,047.06 06/01/97 05/01/27 11.500 10.500 17.500 7.250
MLC165 800160624 72,000.00 07/01/97 06/01/27 9.625 9.625 15.625 5.750
MLC165 800161556 52,200.00 06/01/97 05/01/27 10.000 9.000 16.000 6.750
MLC165 800162117 196,000.00 06/01/97 05/01/27 11.250 11.250 17.250 7.250
MLC165 800164303 95,850.00 06/01/97 05/01/27 10.000 9.000 16.000 6.750
MLC165 800164782 63,000.00 06/01/97 05/01/27 11.375 10.375 17.375 6.750
MLC165 800165466 108,800.00 07/01/97 06/01/27 10.000 9.000 16.000 5.000
MLC165 800169823 54,000.00 07/01/97 06/01/27 10.125 9.125 16.125 5.250
MLC165 800170193 47,600.00 06/01/97 05/01/27 11.500 10.500 17.500 6.500
MLC165 800170912 99,000.00 06/01/97 05/01/27 10.125 9.125 16.125 5.000
MLC165 800171084 83,300.00 06/01/97 05/01/27 11.375 10.375 17.375 6.250
MLC165 800171969 216,000.00 06/01/97 05/01/27 10.375 10.375 16.375 5.750
MLC165 800172215 178,925.00 06/01/97 05/01/27 9.250 8.250 15.250 5.750
MLC165 800172256 148,000.00 06/01/97 05/01/27 9.125 9.125 15.125 5.250
MLC165 800173783 197,910.05 06/01/97 05/01/27 9.875 9.875 15.875 6.750
MLC165 800174666 62,910.00 06/01/97 05/01/27 10.250 9.250 16.250 5.750
MLC165 800175960 125,000.00 06/01/97 05/01/27 10.000 9.000 16.000 6.250
MLC165 800176588 107,100.00 06/01/97 05/01/27 11.000 10.000 17.000 7.500
MLC165 800177305 59,310.00 07/01/97 06/01/27 10.750 9.750 16.750 5.750
MLC165 800179327 206,250.00 06/01/97 05/01/27 11.625 10.625 17.625 6.750
MLC165 800183022 132,074.58 06/01/97 05/01/27 8.625 8.625 14.625 4.500
MLC165 800183477 84,000.00 06/01/97 05/01/27 9.375 9.375 15.375 5.250
MLC165 800184269 142,542.00 07/01/97 06/01/27 12.875 11.875 18.875 7.500
MLC165 800184897 52,500.00 07/01/97 06/01/27 8.875 8.875 14.875 5.000
MLC165 800185100 52,000.00 07/01/97 06/01/27 9.125 9.125 15.125 5.000
MLC165 800185191 279,000.00 06/01/97 05/01/27 11.125 10.125 17.125 6.000
MLC165 800186736 92,700.00 06/01/97 05/01/27 10.750 9.750 16.750 5.750
MLC165 800187130 38,000.00 07/01/97 06/01/27 10.875 9.875 16.875 5.500
MLC165 800188161 137,683.00 07/01/97 06/01/27 10.250 9.250 16.250 5.250
MLC165 800188427 44,200.00 07/01/97 06/01/17 10.125 9.125 16.125 4.750
MLC165 800189177 261,000.00 06/01/97 05/01/27 9.375 9.375 15.375 6.000
MLC165 800189805 41,400.00 06/01/97 05/01/27 10.750 9.750 16.750 5.750
</TABLE>
<PAGE>
Page 9 6/24/97
ALLIANCE FUNDING COMPANY
A DIVISION OF SUPERIOR BANK FSB
SALE SCHEDULE A
1997-2 CLASS 2 - INITIAL POOL OF ADJUSTABLE RATE MORTGAGES - SETTLEMENT 6/25/97
<TABLE>
<CAPTION>
Principal
Zip Balance at
Sale ID Account Name Address City State Code Origination
- ------------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C>
MLC165 800190696 BALDERA JOSE 2882 HARRINGTON AVENUE BRONX NY 10461 204,000.00
MLC165 800191561 THORNE MARGARET M 2105 BIRCH STREET EASTON PA 18042 63,000.00
MLC165 800191736 TURNER JAMES 1279 WILLIAM STREET BALTIMORE MD 21230 200,000.00
MLC165 800195174 HORWEEN DOUGLAS O 360 CAVALIER ROAD PALM SPRINGS FL 33461 99,000.00
MLC165 800197527 CYR ANGELA M 22 LEONE STREET WATERBURY CT 06708 37,000.00
--------------------------------------- -----------------
123 Sale Total 14,340,431.00
<CAPTION>
Initial Minimum Maximum
Cut-off Date First Mort- Mort- Mort-
Principal Payment Maturity gage gage gage Gross
Sale ID Account Balance Date Date Rate Rate Rate Margin
- ---------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C>
MLC165 800190696 204,000.00 06/01/97 05/01/27 11.250 10.250 17.250 6.500
MLC165 800191561 63,000.00 07/01/97 06/01/27 10.250 9.250 16.250 5.750
MLC165 800191736 200,000.00 07/01/97 06/01/27 11.375 11.375 17.375 7.250
MLC165 800195174 99,000.00 07/01/97 06/01/27 10.500 9.500 16.500 5.750
MLC165 800197527 37,000.00 07/01/97 06/01/27 10.875 9.875 16.875 5.500
------------- --------------------------------
14,334,369.02 10.574 9.936 16.574 6.343
</TABLE>
<PAGE>
Page 10 6/24/97
ALLIANCE FUNDING COMPANY
A DIVISION OF SUPERIOR BANK FSB
SALE SCHEDULE A
1997-2 CLASS 2 - INITIAL POOL OF ADJUSTABLE RATE MORTGAGES - SETTLEMENT 6/25/97
<TABLE>
<CAPTION>
Principal
Zip Balance at
Sale ID Account Name Address City State Code Origination
- ------------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C>
MLC168 180032682 PERDUE ROBERT A JR 302 WELCOME AVE WEST GROVE PA 19390 116,000.00
MLC168 180045650 OSEI GODFREY 209 PUTNAM AVE FREEPORT NY 11520 220,500.00
MLC168 180051328 SMITH VINCENT E 476 PROSPECT ST EAST ORANGE NJ 07017 42,400.00
MLC168 180053985 PIEDRA BARBARA A 1937 RIDGEWOOD DRIVE CLEARWATER FL 34623 52,800.00
MLC168 180072704 SHEFFY DONALD H 503 CAMELOT DR BEL AIR MD 21015 126,000.00
MLC168 180091944 BROWN KEVIN C 24 CROSSING DR FLANDERS NJ 07836 212,500.00
MLC168 180129215 CERVERIZZO PIETRINA 15834 102ND ST HOWARD BEACH NY 11414 260,000.00
MLC168 180131476 CHUNG IN SOOK 743 DAY AVE RIDGEFIELD NJ 01657 242,250.00
MLC168 180149932 MARROQUIN GUSTAVO 5808 COUNTRY PLACE DR TOBYHANNA PA 18466 130,500.00
MLC168 180158545 MOORE PHILLIP G 19310 GULF BOULEVARD INDIAN SHORES FL 34635 445,500.00
MLC168 800091381 SWIRE THOMAS R 417 E 5TH ST BERWICK PA 18603 51,730.00
MLC168 800107088 ANDERSON IAN M 7985 LIMBERLOST RD CLINTON NY 13323 72,000.00
MLC168 800107708 HOFFMAN GREG 62 WOODLOT ROAD RIDGE NY 11961 128,000.00
MLC168 800108573 BIERNACKI RICHARD 104 CHEROKEE LANE MAHWAH NJ 07430 145,000.00
MLC168 800109365 LAROSA MICHAEL J 235 BRECK STREET ROCHESTER NY 14609 18,400.00
MLC168 800109522 FISCELLA NICHOLAS 313 PRAIRIE DR NORTH BABYLON NY 11703 109,200.00
MLC168 800121857 COLLINS ALLISON 231 GARVIN BLVD SHARON HILL PA 19079 55,200.00
MLC168 800122285 TAMBUSCIO ROBERT 8 GREENWICH ST RIVERDALE NJ 07457 151,600.00
MLC168 800123713 CRAIG GINO M 574 PINE STREET STEELTON PA 17113 55,260.00
MLC168 800124836 DIBONA GERARD 1251 DILL RD HAVERTOWN PA 19083 156,825.00
MLC168 800125262 DEPIETRO KENNETH 2 STONES THROW CT ROCKY HILL CT 06067 102,000.00
MLC168 800127003 KULAS THOMAS J 15 SCHOOL STREET BURLINGTON CT 06013 104,000.00
MLC168 800138406 GANTER ROBERT G 8370 STEINSBURG RD COOPERSBURG PA 18036 215,000.00
MLC168 800139446 WILDER GWENDOLYN L 1512 FORT DAVIS PL SE WASHINGTON DC 20011 76,000.00
MLC168 800140360 CITTADINI CHRISTOPHE 38 LAKE HURON DR LITTLE EGG HARBOR NJ 08087 86,250.00
MLC168 800142655 LIGHT DAVID 52 JAMES ST KINGSTON PA 18704 274,300.00
MLC168 800145484 ZARABI ISAAC 27 JESSICA PL ROSLYN HEIGHTS NY 11577 249,900.00
MLC168 800146219 CARLETTA CARLA 8363 TURIN RD ROME NY 13440 92,650.00
MLC168 800147696 OLEN KENDRA M 51 GRANT STREET HARTFORD CT 06106 58,500.00
MLC168 800149437 LAFEVER BARRY G. 46 OAKWOOD DRIVE ROUTE 4 HORSESHOE NC 28742 120,000.00
MLC168 800150062 MARESCO RALPH J 160-11 87TH STREET HOWARD BEACH NY 11414 268,000.00
MLC168 800150732 THOMAS ALLAN L 18 RUTGERS RD PENNSVILLE NJ 08070 95,000.00
MLC168 800150773 TANTLINGER TERRY ALAN 500 RIDGE AVENUE NEW KENSINGTON PA 15068 11,000.00
MLC168 800151086 CURTIS ALAN L. 3 TARRONE DR WESTPORT CT 06880 248,000.00
MLC168 800151110 MAZUR JANINE C 745 BLOOMINGDALE RD STATEN ISLAND NY 10309 133,200.00
MLC168 800154981 LURITO JOSEPH 580 LAMOKA AVENUE STATEN ISLAND NY 10312 94,500.00
MLC168 800155418 SANDS JAMES W 451 NORTHEAST 155TH ST RD CITRA FL 32113 81,000.00
MLC168 800158453 DAWKINS DESMOND 104 ELMORE STREET ENGLEWOOD NJ 07631 110,000.00
MLC168 800158941 TOMA AZIZ 200 ELTINGVILLE BOULEVARD STATEN ISLAND NY 10312 119,200.00
MLC168 800159980 NASH JOHN Q 3900 STANSBURY MILL ROAD MONKTON MD 21111 86,000.00
MLC168 800162828 WHITFIELD TIMOTHY EARL 114 GAINEY DRIVE GOLDSBORO NC 27530 56,700.00
MLC168 800163792 SARRANTONIO JOSEPH 1203 BOSTON AVENUE BAY SHORE NY 11706 131,750.00
MLC168 800163818 FOURNIER ROBERT P 149 MILL STREET NEW BRITAIN CT 06051 25,000.00
MLC168 800164451 HICKAM KEVIN M. 8 JEFFERSON COURT SOUTH ST PETERSBURG FL 33711 242,250.00
MLC168 800166639 COHEN MARTIN 4 LEW STREET WOODRIDGE NY 12787 40,000.00
MLC168 800167009 WELMAN ERIC 45 BERKELEY PL LIVINGSTON NJ 07039 148,800.00
MLC168 800168791 HOOPENGARDNE ALVA 7813 EDDLYNCH ROAD BALTIMORE MD 21222 113,750.00
MLC168 800170177 ALI A JAMEELAH 2930 W GIRARD AVE PHILADELPHIA PA 19130 40,500.00
MLC168 800170334 MOBLEY DANIEL C 4680 MADISON HIGHWAY VALDOSTA GA 31601 47,625.00
MLC168 800170565 FORBES DAVID E 45 MILLS ST HAMDEN CT 06514 73,800.00
MLC168 800171258 OXENFORD DAVID A 312 FAIRVIEW STREET COOPERSBURG PA 18036 71,400.00
MLC168 800172066 DONLEY FAITH A 2924 DUE WEST ROAD DALLAS GA 30132 126,000.00
MLC168 800172363 GROVES DAVID 438 EAST 7TH STREET PLAINFIELD NJ 07061 84,600.00
MLC168 800172579 SPERRUGGIA ANTHONY E 46 UTAH STREET STATEN ISLAND NY 10307 138,000.00
MLC168 800175150 SALDI GARY J. 6911 17TH LANE NORTH ST. PETERSBURG FL 33702 57,715.00
MLC168 800176489 GIRARDEY CAROL HENSON 420 SHONI LANE WOODSTOCK GA 30189 183,400.00
MLC168 800176505 LUCKE CYNTHIA E 1162 MILLER STREET CRUM LYNNE PA 19022 64,600.00
MLC168 800179228 BAILEY RUSSELL F 13905 WESTVIEW FOREST DRIV BOWIE MD 20720 222,300.00
MLC168 800179871 O'NEAL RANDI R 2103 THOMPSON AVENUE JONESTOWN PA 17038 76,040.00
<CAPTION>
Initial Minimum Maximum
Cut-off Date First Mort- Mort- Mort-
Principal Payment Maturity gage gage gage Gross
Sale ID Account Balance Date Date Rate Rate Rate Margin
- ----------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C>
MLC168 180032682 115,762.92 02/01/97 01/01/27 9.375 8.375 15.375 5.000
MLC168 180045650 220,065.90 01/01/97 12/01/26 10.625 9.625 16.625 6.000
MLC168 180051328 42,260.53 01/01/97 12/01/26 9.625 9.625 15.625 6.750
MLC168 180053985 52,731.55 02/01/97 01/01/27 11.500 10.500 17.500 7.000
MLC168 180072704 125,755.62 02/01/97 01/01/27 9.625 8.625 15.625 5.000
MLC168 180091944 212,158.17 03/01/97 02/01/27 9.125 9.125 15.125 6.750
MLC168 180129215 259,896.68 05/01/97 04/01/27 10.500 9.500 16.500 6.250
MLC168 180131476 241,935.29 01/01/97 12/01/26 11.375 11.375 17.375 7.750
MLC168 180149932 130,439.11 05/01/97 04/01/27 9.750 8.750 15.750 5.500
MLC168 180158545 445,500.00 06/01/97 05/01/27 10.600 9.600 16.600 5.750
MLC168 800091381 51,730.00 04/01/97 03/01/27 11.750 10.750 17.750 7.000
MLC168 800107088 71,985.30 06/01/97 05/01/27 13.500 12.500 19.500 8.500
MLC168 800107708 128,000.00 06/01/97 05/01/27 9.750 8.750 15.750 6.250
MLC168 800108573 145,000.00 06/01/97 05/01/27 9.625 8.625 15.625 6.250
MLC168 800109365 18,395.42 05/01/97 04/01/27 12.625 11.625 18.625 8.250
MLC168 800109522 109,158.89 05/01/97 04/01/27 10.750 10.750 16.750 7.875
MLC168 800121857 55,200.00 06/01/97 05/01/27 13.750 12.750 19.750 8.500
MLC168 800122285 151,531.12 05/01/97 04/01/27 9.875 9.875 15.875 6.750
MLC168 800123713 55,260.00 06/01/97 05/01/27 10.250 9.250 16.250 6.750
MLC168 800124836 156,825.00 07/01/97 06/01/27 9.125 9.125 15.125 5.500
MLC168 800125262 102,000.00 06/01/97 05/01/27 9.375 9.375 15.375 6.250
MLC168 800127003 104,000.00 07/01/97 06/01/27 12.625 11.625 18.625 6.750
MLC168 800138406 215,000.00 06/01/97 05/01/27 9.375 8.375 15.375 5.750
MLC168 800139446 76,000.00 06/01/97 05/01/27 10.625 9.625 16.625 6.000
MLC168 800140360 86,220.07 05/01/97 04/01/27 11.125 10.125 17.125 6.750
MLC168 800142655 274,300.00 06/01/97 05/01/27 12.125 12.125 18.125 7.750
MLC168 800145484 249,900.00 06/01/97 05/01/27 10.625 10.625 16.625 6.750
MLC168 800146219 92,650.00 06/01/97 05/01/27 11.500 10.500 17.500 7.500
MLC168 800147696 58,500.00 06/01/97 05/01/27 10.750 9.750 16.750 5.750
MLC168 800149437 120,000.00 07/01/97 06/01/27 10.875 9.875 16.875 6.250
MLC168 800150062 267,901.80 05/01/97 04/01/27 10.875 10.875 16.875 8.250
MLC168 800150732 95,000.00 06/01/97 05/01/27 11.000 10.000 17.000 6.750
MLC168 800150773 11,000.00 06/01/97 05/01/27 11.125 10.125 17.125 6.000
MLC168 800151086 248,000.00 06/01/97 05/01/27 9.625 8.625 15.625 6.000
MLC168 800151110 133,200.00 07/01/97 06/01/27 10.625 10.625 16.625 7.000
MLC168 800154981 94,500.00 06/01/97 05/01/27 10.875 9.875 16.875 5.750
MLC168 800155418 81,000.00 07/01/97 06/01/27 10.125 9.125 16.125 5.000
MLC168 800158453 110,000.00 07/01/97 06/01/27 9.625 9.625 15.625 6.500
MLC168 800158941 119,200.00 06/01/97 05/01/27 11.375 11.375 17.375 8.250
MLC168 800159980 85,980.34 05/01/97 04/01/27 13.000 12.000 19.000 7.750
MLC168 800162828 56,700.00 07/01/97 06/01/27 10.500 9.500 16.500 5.750
MLC168 800163792 131,750.00 07/01/97 06/01/27 8.875 7.875 14.875 3.750
MLC168 800163818 25,000.00 06/01/97 05/01/27 9.750 8.750 15.750 6.250
MLC168 800164451 242,250.00 07/01/97 06/01/27 11.250 10.250 17.250 6.500
MLC168 800166639 40,000.00 07/01/97 06/01/27 10.500 9.500 16.500 6.000
MLC168 800167009 148,800.00 07/01/97 06/01/27 12.125 12.125 18.125 8.500
MLC168 800168791 113,750.00 06/01/97 05/01/27 13.250 12.250 19.250 7.750
MLC168 800170177 40,500.00 06/01/97 05/01/27 9.625 9.625 15.625 6.000
MLC168 800170334 47,625.00 06/01/97 05/01/17 11.000 10.000 17.000 6.500
MLC168 800170565 73,800.00 06/01/97 05/01/27 11.250 10.250 17.250 6.750
MLC168 800171258 71,400.00 06/01/97 05/01/27 8.625 7.625 14.625 4.750
MLC168 800172066 126,000.00 06/01/97 05/01/27 10.750 9.750 16.750 5.750
MLC168 800172363 84,600.00 07/01/97 06/01/27 10.750 9.750 16.750 5.750
MLC168 800172579 138,000.00 07/01/97 06/01/27 11.875 11.875 17.875 8.250
MLC168 800175150 57,695.52 06/01/97 05/01/27 11.250 10.250 17.250 6.250
MLC168 800176489 183,400.00 07/01/97 06/01/27 10.500 9.500 16.500 6.250
MLC168 800176505 64,573.63 06/01/97 05/01/27 10.375 10.375 16.375 7.500
MLC168 800179228 222,300.00 06/01/97 05/01/27 8.875 8.875 14.875 6.000
MLC168 800179871 76,040.00 07/01/97 06/01/27 9.875 8.875 15.875 6.000
</TABLE>
<PAGE>
Page 11 6/24/97
ALLIANCE FUNDING COMPANY
A DIVISION OF SUPERIOR BANK FSB
SALE SCHEDULE A
1997-2 CLASS 2 - INITIAL POOL OF ADJUSTABLE RATE MORTGAGES - SETTLEMENT 6/25/97
<TABLE>
<CAPTION>
Principal
Zip Balance at
Sale ID Account Name Address City State Code Origination
- ------------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C>
MLC168 800180143 GEIGER JOSEPH J 301 EAST CHURCH STREET NANTICOKE PA 18634 45,000.00
MLC168 800182057 LOUDON DAVIS MARIE G 2041 JASMINE RD BALTIMORE MD 21222 42,000.00
MLC168 800183287 DRAGONE COLEEN 2577 HAFF AVE NORTH BELLMORE NY 11710 140,000.00
MLC168 800183311 STORDY DEBORAH 1-3 CHERRY STREET DERBY CT 06418 39,600.00
MLC168 800186033 KIM CHUK Y 243-21 73RD AVENUE DOUGLASTON NY 11362 289,000.00
MLC168 800186793 COLBURN MICHAEL L 34 CALDWELL DRIVE DERBY CT 06418 139,500.00
MLC168 800186835 KLEIMAN SEMYON 102 LYNFORD ROAD NORTHHAMPTON PA 18954 148,500.00
MLC168 800188898 TOTH RICHARD P 726 LAFFERTY DRIVE PITTSBURGH PA 15227 89,250.00
MLC168 800189169 HOLTZ WILBERT F 1211 STANHOPE STREET PITTSBURGH PA 15204 25,500.00
MLC168 800190597 GREENE VERONICA 208 ALBANY AVE BROOKLYN NY 11213 119,000.00
MLC168 800191249 KRASNER DAVID S 28 CHATHAM HILL ROAD REEDERS PA 18330 239,910.00
MLC168 800191470 OUDEANS CRAIG T 33 OCEAN AVE EAST QUOGUE NY 11942 97,750.00
MLC168 800191694 SEVERANCE JACQUELINE 6334 PINEVIEW TERRACE RIVERDALE GA 30296 88,000.00
MLC168 800191876 WISE DWIGHT W 3002 W JULIE DRIVE PHEONIX AZ 86027 74,000.00
MLC168 800192171 STERNER ROBERT E 6502A ORCHARD ROAD SPRING GROVE PA 17362 116,100.00
MLC168 800192528 TURNER MARY ANN 10 TOLLGATE ROAD VOORHEESVILLE NY 12186 30,000.00
MLC168 800192635 ANDERSON JACQUELINE L 2124 SAMANTHA WAY MARIETTA GA 30060 112,000.00
MLC168 800193260 STEFANELLI MICHAEL A 122 OAK RIDGE AVENUE NUTLEY NJ 07110 155,250.00
MLC168 800193922 ALLEN KATHARINE H 7310 GLEN COVE ROAD BROOKSVILLE FL 34613 69,600.00
MLC168 800195091 METZ STEVEN D 11 DIVISION STREET NORWICH CT 06360 72,000.00
MLC168 800196743 RUSSIN ROSE 132 SOUTH WALNUT STREET NANTICOKE PA 18634 50,575.00
MLC168 800197378 CROOK GARY E 2414 SHEPPARD CIRCLE NORTHFIELD NJ 08225 102,000.00
MLC168 800198152 OCASIO MANUEL 295- 303 PEARL HARBOR STRE BRIDGEPORT CT 06610 76,800.00
MLC168 800199234 RAVENELL TIMOTHY 123 GROUPER COURT VANCE SC 29163 44,000.00
MLC168 800200016 MCGRATH JEFFREY 92 UNDERHILL ROAD NEWTOWN CT 06470 120,600.00
MLC168 800200586 TUCKER DAVID M 239 SIMS ROAD BLACKSBURG SC 29702 39,600.00
MLC168 800200842 PROCTOR PERCY JEROME 3355 FOREST ROAD WALDORF MD 20601 108,000.00
MLC168 800202491 PRIMIANO JOHN P 249 CLONMELL UPLAND ROAD WEST GROVE PA 19380 157,500.00
MLC168 800203531 OWENS MARK C 96 DANA AVENUE ALBANY NY 12208 60,720.00
MLC168 800210387 APPLEBY TIMOTHY 901 JAMESTOWN ROAD BROOMALL PA 19008 55,000.00
MLC168 800212052 EISENHAUER MICHAEL J 54 WEST LUZERNE AVENUE LARKSVILLE PA 18704 30,400.00
MLC168 800212524 PORTNOY SHEILA 132 MEADOW CIRCLE ELLENTON FL 34222 58,650.00
MLC168 800212888 LESTER JEFFREY W 27 MEADOWBROOK DR HUNTINGTON STATION NY 11746 120,000.00
MLC168 800214389 TURNER JOHN P 1010 10TH AVENUE NORTH NAPLES FL 34102 63,000.00
MLC168 800217564 BONILLA ROSEMARY 97 CHURCH ST STATEN ISLAND NY 10301 90,320.00
MLC168 800223208 SUSCA NICOLA 2176 73RD STREET BROOKLYN NY 11204 225,000.00
--------------------------------------- -----------------
95 Sale Total 10,894,520.00
<CAPTION>
Initial Minimum Maximum
Cut-off Date First Mort- Mort- Mort-
Principal Payment Maturity gage gage gage Gross
Sale ID Account Balance Date Date Rate Rate Rate Margin
- ---------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C>
MLC168 800180143 45,000.00 06/01/97 05/01/27 8.875 8.875 14.875 6.000
MLC168 800182057 42,000.00 06/01/97 05/01/27 12.875 11.875 18.875 8.000
MLC168 800183287 140,000.00 07/01/97 06/01/27 10.875 9.875 16.875 6.750
MLC168 800183311 39,600.00 06/01/97 05/01/27 9.875 9.875 15.875 6.000
MLC168 800186033 289,000.00 07/01/97 06/01/27 12.250 11.250 18.250 7.500
MLC168 800186793 139,500.00 06/01/97 05/01/27 11.500 10.500 17.500 6.750
MLC168 800186835 148,500.00 06/01/97 05/01/27 10.125 9.125 16.125 6.500
MLC168 800188898 89,250.00 07/01/97 06/01/27 9.250 8.250 15.250 4.500
MLC168 800189169 25,500.00 07/01/97 06/01/27 11.125 10.125 17.125 6.250
MLC168 800190597 119,000.00 06/01/97 05/01/27 9.625 9.625 15.625 5.750
MLC168 800191249 239,910.00 06/01/97 05/01/27 11.125 10.125 17.125 7.250
MLC168 800191470 97,750.00 06/01/97 05/01/27 12.500 11.500 18.500 7.750
MLC168 800191694 88,000.00 06/01/97 05/01/27 9.875 9.875 15.875 6.000
MLC168 800191876 74,000.00 07/01/97 06/01/27 9.750 8.750 15.750 5.250
MLC168 800192171 116,100.00 07/01/97 06/01/27 10.500 9.500 16.500 5.750
MLC168 800192528 30,000.00 07/01/97 06/01/27 9.750 8.750 15.750 5.250
MLC168 800192635 112,000.00 06/01/97 05/01/27 10.125 10.125 16.125 6.250
MLC168 800193260 155,250.00 07/01/97 06/01/27 11.625 10.625 17.625 6.750
MLC168 800193922 69,600.00 07/01/97 06/01/27 9.875 8.875 15.875 5.000
MLC168 800195091 72,000.00 07/01/97 06/01/27 12.500 11.500 18.500 7.250
MLC168 800196743 50,575.00 07/01/97 06/01/27 11.250 10.250 17.250 6.500
MLC168 800197378 102,000.00 07/01/97 06/01/27 12.625 12.625 18.625 7.750
MLC168 800198152 76,800.00 07/01/97 06/01/27 9.875 8.875 15.875 5.000
MLC168 800199234 44,000.00 07/01/97 06/01/17 11.125 10.125 17.125 6.000
MLC168 800200016 120,600.00 07/01/97 06/01/27 10.500 9.500 16.500 5.750
MLC168 800200586 39,600.00 07/01/97 06/01/17 13.125 12.125 19.125 8.000
MLC168 800200842 108,000.00 07/01/97 06/01/27 12.500 11.500 18.500 8.000
MLC168 800202491 157,500.00 07/01/97 06/01/27 10.000 9.000 16.000 5.250
MLC168 800203531 60,720.00 07/01/97 06/01/27 11.875 10.875 17.875 7.250
MLC168 800210387 55,000.00 07/01/97 06/01/27 9.750 8.750 15.750 5.250
MLC168 800212052 30,400.00 06/01/97 05/01/27 10.375 9.375 16.375 6.000
MLC168 800212524 58,650.00 07/01/97 06/01/27 10.250 9.250 16.250 6.000
MLC168 800212888 120,000.00 07/01/97 06/01/27 9.000 8.000 15.000 4.500
MLC168 800214389 63,000.00 07/01/97 06/01/27 10.500 9.500 16.500 5.500
MLC168 800217564 90,320.00 07/01/97 06/01/27 9.125 9.125 15.125 5.250
MLC168 800223208 224,883.35 05/01/97 04/01/27 9.250 8.250 15.250 6.000
------------- --------------------------------
10,892,136.21 10.635 9.946 16.635 6.476
</TABLE>
<PAGE>
Page 12 6/24/97
ALLIANCE FUNDING COMPANY
A DIVISION OF SUPERIOR BANK FSB
SALE SCHEDULE A
1997-2 CLASS 2 - INITIAL POOL OF ADJUSTABLE RATE MORTGAGES - SETTLEMENT 6/25/97
<TABLE>
<CAPTION>
Principal
Zip Balance at
Sale ID Account Name Address City State Code Origination
- ------------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C>
SB557 161427455 WEAVER TRAVIS 4649 SOUTH 5500 WEST HOOPER UT 84315 180,000.00
SB557 161434493 APODACA MARY ESTHER 245 RODEO DRIVE LAKESIDE AZ 85929 51,150.00
SB557 161438916 SNIPES LARRY A 18047 WEST LATHAM STREET BUCKEYE AZ 85326 31,750.00
SB557 161450267 CWIK LAWRENCE J 525 SOUTHEAST 76TH AVENUE PORTLAND OR 97215 63,000.00
SB557 161450283 CWIK LAWRENCE J 624 NE 18TH PORTLAND OR 97215 110,600.00
SB557 161454418 BARRETT GEORGE 3230 MCDOWELL FERNDALE MI 48220 40,000.00
SB557 161454426 SUTTON TIMOTHY 2325 OAKWOOD ORTONVILLE MI 48462 150,000.00
SB557 161454806 TUCKER CONSTANCE E 2820 PAPAGO TRAIL CHINO VALLEY AZ 86323 41,625.00
SB557 161461587 GLAZER ROBERT 2720 CARMEL COURT COLORADO SPRINGS CO 80910 60,000.00
SB557 161462379 WILLIAMS RUSSELL 1215 WEST HAVENS STREET KOKOMO IN 46901 41,200.00
SB557 161462825 HANSEN LIBERTY S 2208 POLAR CIRCLE MEDFORD OR 97504 98,000.00
SB557 161464003 RICCI RON L 464 23RD 3/4 AVE CUMBERLAND WI 54829 178,000.00
SB557 161465224 MCBRIDE NICHOLAS 16631 LONGMIRE ROAD SE YELM WA 98597 76,500.00
SB557 161467998 MCDONALD WILLIAM 1214 FOREST BAY DRIVE WATERFORD MI 48328 412,000.00
SB557 161472485 HANNIBAL PAULA K 5515 WORCHESTER STREET DENVER CO 80239 71,900.00
SB557 161474069 SNELL FRANK L 4262 SOUTH LINCOLN STREET ENGLEWOOD CO 80110 93,500.00
SB557 161475157 NIKITIN IGOR A 240 BOONE ROAD SE SALEM OR 97302 108,750.00
SB557 161479977 MCKENNA GERALD 3786 ELDORADO SPRINGS DRIV BOULDER CO 80303 280,000.00
SB557 161480074 DUCKETT D SCOTT 315 S 2ND STREET SILVERTON OR 97381 90,450.00
SB557 161480603 FORSYTHE MARVIN A 70 STEAMBOAT LANE SPRINGDALE UT 84767 168,000.00
SB557 161482096 COON ROSE A 1704 16TH AVENUE ROCKFORD IL 61104 64,800.00
SB557 161483722 PARSONS HERBERT E III 4440 PRAIRIE STREET CASCADE CO 80809 154,400.00
SB557 161483839 YASUMURA THOMAS 3737 BROMLEY DRIVE FORT COLLINS CO 80525 211,500.00
SB557 161484894 CRIM LISA 7636 SOUTH ARTESIAN AVENUE CHICAGO IL 60652 81,000.00
SB557 161486170 EIDE ERIC A 3811 SOUTH K STREET TACOMA WA 98408 108,000.00
SB557 161487616 WEBSTER CHRISTINA 611 MAIN EAST TAWAS MI 48730 59,500.00
SB557 161488648 COOK RICHARD L 3001 WEST BELLEWOOD DRIVE ENGLEWOOD CO 80110 89,675.00
SB557 161490099 BABLER ROGER A 112 E MAIN ST BELLEVILLE WI 53508 64,000.00
SB557 161490354 WHITE RANDOLPH JR 3394 MAGNOLIA STREET DENVER CO 80207 68,000.00
--------------------------------------- -----------------
29 Sale Total 3,247,300.00
<CAPTION>
Initial Minimum Maximum
Cut-off Date First Mort- Mort- Mort-
Principal Payment Maturity gage gage gage Gross
Sale ID Account Balance Date Date Rate Rate Rate Margin
- --------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C>
SB557 161427455 180,000.00 07/01/97 06/01/27 9.750 8.750 15.750 5.250
SB557 161434493 51,099.16 05/01/97 04/01/17 12.125 11.125 18.125 7.750
SB557 161438916 31,750.00 06/01/97 05/01/17 14.375 13.375 20.375 8.750
SB557 161450267 63,000.00 06/01/97 05/01/27 11.000 10.000 17.000 6.250
SB557 161450283 110,600.00 06/01/97 05/01/27 11.000 10.000 17.000 6.250
SB557 161454418 40,000.00 06/01/97 05/01/27 10.250 9.250 16.250 5.250
SB557 161454426 149,897.12 05/01/97 04/01/27 11.250 10.250 17.250 6.000
SB557 161454806 41,537.65 06/01/97 05/01/12 11.500 10.500 17.500 6.750
SB557 161461587 60,000.00 07/01/97 06/01/27 11.125 10.125 17.125 7.000
SB557 161462379 41,200.00 07/01/97 06/01/27 11.375 10.375 17.375 6.000
SB557 161462825 98,000.00 06/01/97 05/01/27 11.000 10.000 17.000 6.500
SB557 161464003 178,000.00 07/01/97 06/01/27 9.750 9.750 15.750 5.500
SB557 161465224 76,500.00 07/01/97 06/01/27 11.000 11.000 17.000 6.500
SB557 161467998 412,000.00 07/01/97 06/01/27 9.875 9.875 15.875 6.250
SB557 161472485 71,900.00 07/01/97 06/01/27 8.500 7.500 14.500 4.000
SB557 161474069 93,500.00 07/01/97 06/01/27 9.000 8.000 15.000 4.500
SB557 161475157 108,750.00 07/01/97 06/01/27 8.875 8.875 14.875 5.250
SB557 161479977 280,000.00 07/01/97 06/01/27 11.625 10.625 17.625 7.000
SB557 161480074 90,450.00 07/01/97 06/01/27 9.875 8.875 15.875 5.000
SB557 161480603 168,000.00 07/01/97 06/01/27 12.625 11.625 18.625 8.000
SB557 161482096 64,800.00 07/01/97 06/01/27 10.500 9.500 16.500 5.750
SB557 161483722 154,400.00 07/01/97 06/01/27 10.875 10.875 16.875 7.250
SB557 161483839 211,500.00 07/01/97 06/01/27 8.125 8.125 14.125 4.500
SB557 161484894 81,000.00 07/01/97 06/01/27 10.500 9.500 16.500 5.750
SB557 161486170 108,000.00 07/01/97 06/01/27 9.750 8.750 15.750 5.250
SB557 161487616 59,500.00 07/01/97 06/01/27 8.875 7.875 14.875 3.750
SB557 161488648 89,675.00 07/01/97 06/01/27 10.125 10.125 16.125 6.500
SB557 161490099 64,000.00 07/01/97 06/01/27 9.875 8.875 15.875 5.000
SB557 161490354 68,000.00 07/01/97 06/01/27 10.875 9.875 16.875 6.250
------------ --------------------------------
3,247,058.93 10.363 9.742 16.363 6.009
</TABLE>
<PAGE>
Page 13 6/24/97
ALLIANCE FUNDING COMPANY
A DIVISION OF SUPERIOR BANK FSB
SALE SCHEDULE A
1997-2 CLASS 2 - INITIAL POOL OF ADJUSTABLE RATE MORTGAGES - SETTLEMENT 6/25/97
<TABLE>
<CAPTION>
Principal
Zip Balance at
Sale ID Account Name Address City State Code Origination
- ------------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C>
SBC558 180007544 MARCHANT MICHAEL A 103 OAK AVENUE LA PLATA MD 20646 120,000.00
SBC558 180019903 HANLEY JOANNE M 38 MORNING MIST ROAD MILFORD CT 06460 85,000.00
SBC558 180020737 PLIEGO JOHN A JR 116 WILLOW ST MERIDEN CT 06450 73,500.00
SBC558 180026460 MONTGOMERY SANDRA 1741 LENOX RD SCHENECTADY NY 12308 64,600.00
SBC558 180037020 TCHORZEWSKI HALINE M 710 MATTA BASETT STREET EAST BERLIN CT 06037 94,350.00
SBC558 180042616 SCALES ORLANDO E 2817 ROWELL ST WINSTON SALEM NC 27101 40,000.00
SBC558 180056392 ANNUSCHIES ALFRED G 16 GARDENS AVE BERLIN NJ 08009 89,000.00
SBC558 180057879 PERRI SAMUEL 8 CARNAHAN RD PITTSBURGH PA 15220 233,750.00
SBC558 180063216 PISTONE RAYMOND P 38 CEDAR BROOK DR TOMS RIVER NJ 08753 132,000.00
SBC558 180070369 FACEY OSBOURNE 4264 CARPENTER AVE BRONX NY 10466 187,000.00
SBC558 180072845 PRIOR T SCOTT 336 LAKESIDE BLVD HOPATCONG NJ 07843 121,000.00
SBC558 180078933 SHERIDAN JAMES M 1407 67TH ST NORTH BERGEN NJ 07047 180,000.00
SBC558 180095853 ANDRESS CHARLES 20 LIBERTY ST ARCADE NY 14009 50,400.00
SBC558 180096273 PARK KYOUNG HEE SEO 139 ROCKWOOD PLANE ENGLEWOOD NJ 07631 128,000.00
SBC558 180099087 EAST TIMOTHY P RD 1 BOX 300 MILTON PA 17847 49,600.00
SBC558 180104101 SNYDER CHRISTOPHE 2455 CENTER STREET BETHLEHEM PA 18017 162,000.00
SBC558 180105686 WILLIAMS WELLINGTON L 1721 S MOUNTAIN DR READING PA 19608 135,000.00
SBC558 180123739 WOLOSKI GARY B 22 REID ST FRANKLIN MA 02038 60,000.00
SBC558 180124828 GUGLIELMI MARIO 10 CHESTNUT ROAD EFFORT PA 18330 51,570.00
SBC558 180130122 MISCAVAGE MELISSA 28 HAZLETON STREET ASHLEY PA 18706 31,500.00
SBC558 180134660 RANDALL MARC 3415 DUPONT AVE BALTIMORE MD 21215 33,800.00
SBC558 180141798 TANTLINGER TERRY ALAN RD 4 BOX 270A KITTANNING PA 16201 147,000.00
SBC558 180143638 LILLIS SEAN P 909 NORTH 12TH STREET READING PA 19604 49,000.00
SBC558 180145104 TERRELL JOHN C 8712 PRITCHARD ROAD JACKSONVILLE FL 32219 105,000.00
SBC558 180145971 ADEFILA DAVID O 8108 POWHATAN STREET NEW CARROLLTON MD 20784 59,850.00
SBC558 180151771 BELMONTE EDGAR C 14920 INDIGO LAKE DRIVE ORLANDO FL 32824 128,164.00
SBC558 180154734 EYLES NANCY 417 MELLON STREET WEST MIFFLIN PA 15122 63,750.00
SBC558 180166571 REESE GEORGE W 324 W COURT ST ROME NY 13440 35,000.00
SBC558 180167157 CLEMMONS JAMES 45 ANDREWS AVENUE WYANDANCH NY 11798 106,200.00
SBC558 180173767 LEVINE LOUIS A 24 ELLIOTT ST NEWARK NJ 07104 91,000.00
SBC558 180175986 HOSTEN DAVID 612 WATSON BAY STONE MOUNTAIN GA 30087 127,200.00
SBC558 180176612 PECORA EILEEN 19 HILLCREST AVE STATEN ISLAND NY 10308 229,500.00
SBC558 180176828 TAYLOR GLENWOOD MASON 453 ADAMS TRAIL KEELING VA 24566 81,250.00
SBC558 180176943 HELMS GLENNDON H 8320 TOM COSTINE ROAD LAKELAND FL 33809 90,000.00
SBC558 180185852 CARTER JAMES 10108 WELSHIRE DRIVE UPPER MARLBORO MD 20772 208,250.00
SBC558 800129173 SCAVONE PHILLIP 46 WILLIAMS ST EDWARDSVILLE PA 18704 30,550.00
SBC558 800131542 MYERS GREGORY A 108 WOODCOCK COURT EASLEY SC 29642 73,800.00
SBC558 800135006 PAULES BRYAN S 71 SOUTH MAIN STREET STEWARTSTOWN PA 17363 72,000.00
SBC558 800136301 WOYTKO HARRY RR 2 BOX 2704 BERWICK PA 18603 249,000.00
SBC558 800136855 SANCHEZ RAMON 2179 HUGHES AVENUE BRONX NY 10457 139,500.00
SBC558 800137937 MCCLAMMY WILLIAM T 2 ELLIOT DR JAMESBURG NJ 08831 211,500.00
SBC558 800140279 HALL LYNDA L 1 WINFIELD RD HINGHAM MA 02043 221,000.00
SBC558 800144271 WESTER EDWARD 549 FROST RD WATERBURY CT 06705 64,500.00
SBC558 800145245 WILLIAMS ERIC G 310 FITZPATRICK STREET HILLSIDE NJ 07205 129,600.00
SBC558 800146268 STOCTON PHILIP 817 WOODHOLLOW DRIVE CRANBERRY PA 16066 88,000.00
SBC558 800150351 ADDISON GLORIA J 62 ADAIR STREET ATLANTA GA 30310 34,000.00
SBC558 800152555 FLORES DAISY 85 CORBIN AVENUE EAST PATCHOGUE NY 11772 95,200.00
SBC558 800153496 BACH GEORGE 311 WESTVIEW AVE FORT LEE NJ 07024 228,750.00
SBC558 800154064 LESLIE ELIZABETH C 8409 PORCUPINE DR TOBYHANNA PA 18466 116,800.00
SBC558 800155251 MAURER DANIEL P 35 PLEASANT GROVE ROAD LONG VALLEY NJ 07853 207,000.00
SBC558 800156671 BENNETT CHRISTOPHE 248 MACGARNER RD TEMPLE GA 30179 45,000.00
SBC558 800156788 KOYLES THOMAS 20 GWENDOLYN PLACE EAST ISLIP NY 11730 112,500.00
SBC558 800157182 CEPEDA JOSE 434 ALLEN STREET ALLENTOWN PA 18102 45,600.00
SBC558 800159865 SWANSON RONALD K LILY LAKE ROAD DALTON PA 18414 525,300.00
SBC558 800160699 RUFFIN ANNA F 20 HIGH ST WEST ORANGE NJ 07052 138,400.00
SBC558 800161366 HARVEY STEVEN 61 HOLLAND STREET WILKES BARRE PA 18702 31,450.00
SBC558 800161564 WINIKUS JAMES M 23 NOSTRAND AVE SELDEN NY 11784 102,400.00
SBC558 800162364 FACHLER SHARON 1965 EAST 26 STREET BROOKLYN NY 11229 126,900.00
SBC558 800163321 REYNOLDS JAMES 1974 CARTER ROAD FOLCROFT PA 19032 45,500.00
<CAPTION>
Initial Minimum Maximum
Cut-off Date First Mort- Mort- Mort-
Principal Payment Maturity gage gage gage Gross
Sale ID Account Balance Date Date Rate Rate Rate Margin
- --------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C>
SBC558 180007544 119,500.37 10/01/96 09/01/26 9.125 9.125 15.125 5.500
SBC558 180019903 84,634.19 01/01/97 12/01/26 7.750 7.750 13.750 3.750
SBC558 180020737 73,234.89 12/01/96 11/01/26 8.625 7.625 14.625 3.750
SBC558 180026460 64,465.85 02/01/97 01/01/27 10.375 10.375 16.375 6.500
SBC558 180037020 94,213.57 03/01/97 02/01/27 11.000 10.000 17.000 6.500
SBC558 180042616 39,903.14 02/01/97 01/01/27 11.000 10.000 17.000 6.000
SBC558 180056392 88,887.08 03/01/97 02/01/27 10.250 9.250 16.250 5.750
SBC558 180057879 233,445.40 03/01/97 02/01/27 10.125 9.125 16.125 6.500
SBC558 180063216 131,819.19 02/01/97 01/01/27 11.250 11.250 17.250 7.500
SBC558 180070369 186,792.60 03/01/97 02/01/27 10.875 9.875 16.875 6.250
SBC558 180072845 120,824.70 03/01/97 02/01/27 9.625 9.625 15.625 6.250
SBC558 180078933 179,725.16 03/01/97 02/01/27 9.375 9.375 15.375 5.750
SBC558 180095853 50,382.51 05/01/97 04/01/27 11.125 10.125 17.125 6.250
SBC558 180096273 127,828.71 04/01/97 03/01/27 10.000 9.000 16.000 5.250
SBC558 180099087 49,554.55 04/01/97 03/01/27 11.750 10.750 17.750 7.250
SBC558 180104101 161,805.17 04/01/97 03/01/27 10.500 9.500 16.500 5.750
SBC558 180105686 134,870.12 04/01/97 03/01/27 9.625 9.625 15.625 5.750
SBC558 180123739 59,915.34 04/01/97 03/01/27 9.750 8.750 15.750 5.000
SBC558 180124828 51,508.88 05/01/97 04/01/27 8.625 8.625 14.625 5.000
SBC558 180130122 31,487.49 06/01/97 05/01/27 10.500 9.500 16.500 5.750
SBC558 180134660 33,778.88 05/01/97 04/01/27 11.625 11.625 17.625 7.750
SBC558 180141798 147,000.00 06/01/97 05/01/27 10.500 9.500 16.500 5.500
SBC558 180143638 48,978.90 05/01/97 04/01/27 10.125 9.125 16.125 5.000
SBC558 180145104 24,938.01 05/01/97 04/01/27 8.625 7.625 14.625 3.750
SBC558 180145971 59,823.52 05/01/97 04/01/27 10.000 9.000 16.000 5.250
SBC558 180151771 118,097.56 05/01/97 04/01/27 9.250 8.250 15.250 4.500
SBC558 180154734 63,750.00 06/01/97 05/01/27 9.500 8.500 15.500 4.500
SBC558 180166571 34,989.42 05/01/97 04/01/27 11.750 10.750 17.750 7.000
SBC558 180167157 106,155.47 06/01/97 05/01/27 10.250 9.250 16.250 5.750
SBC558 180173767 91,000.00 06/01/97 05/01/27 9.875 9.875 15.875 6.250
SBC558 180175986 127,200.00 06/01/97 05/01/27 9.500 8.500 15.500 4.500
SBC558 180176612 229,500.00 06/01/97 05/01/27 10.750 9.750 16.750 5.750
SBC558 180176828 81,250.00 06/01/97 05/01/27 11.625 10.625 17.625 6.000
SBC558 180176943 90,000.00 06/01/97 05/01/27 9.875 8.875 15.875 5.250
SBC558 180185852 208,250.00 06/01/97 05/01/27 11.375 10.375 17.375 6.250
SBC558 800129173 30,550.00 06/01/97 05/01/27 10.000 9.000 16.000 5.500
SBC558 800131542 73,800.00 06/01/97 05/01/27 10.500 9.500 16.500 5.750
SBC558 800135006 72,000.00 07/01/97 06/01/27 8.875 7.875 14.875 3.750
SBC558 800136301 249,000.00 06/01/97 05/01/27 10.000 9.000 16.000 5.500
SBC558 800136855 139,500.00 07/01/97 06/01/27 10.750 9.750 16.750 5.750
SBC558 800137937 211,500.00 06/01/97 05/01/27 10.500 9.500 16.500 5.750
SBC558 800140279 221,000.00 06/01/97 05/01/27 9.875 9.875 15.875 5.750
SBC558 800144271 64,500.00 07/01/97 06/01/27 12.750 11.750 18.750 8.250
SBC558 800145245 129,600.00 07/01/97 06/01/27 10.500 9.500 16.500 5.750
SBC558 800146268 88,000.00 06/01/97 05/01/27 10.875 10.875 16.875 7.000
SBC558 800150351 34,000.00 07/01/97 06/01/27 11.250 10.250 17.250 6.750
SBC558 800152555 95,200.00 06/01/97 05/01/27 12.125 12.125 18.125 8.250
SBC558 800153496 228,750.00 06/01/97 05/01/27 10.500 9.500 16.500 6.250
SBC558 800154064 116,770.11 05/01/97 04/01/27 12.500 11.500 18.500 8.000
SBC558 800155251 207,000.00 07/01/97 06/01/27 9.875 8.875 15.875 6.250
SBC558 800156671 45,000.00 06/01/97 05/01/27 10.000 9.000 16.000 5.750
SBC558 800156788 112,500.00 07/01/97 06/01/27 10.125 9.125 16.125 5.000
SBC558 800157182 45,600.00 07/01/97 06/01/27 12.875 11.875 18.875 7.500
SBC558 800159865 525,300.00 07/01/97 06/01/27 11.000 10.000 17.000 6.500
SBC558 800160699 138,400.00 07/01/97 06/01/27 13.500 12.500 19.500 8.500
SBC558 800161366 31,450.00 07/01/97 06/01/27 11.125 10.125 17.125 6.250
SBC558 800161564 102,400.00 07/01/97 06/01/27 11.250 11.250 17.250 7.250
SBC558 800162364 126,900.00 06/01/97 05/01/27 11.000 10.000 17.000 6.250
SBC558 800163321 45,500.00 07/01/97 06/01/27 10.125 9.125 16.125 5.500
</TABLE>
<PAGE>
Page 14 6/24/97
ALLIANCE FUNDING COMPANY
A DIVISION OF SUPERIOR BANK FSB
SALE SCHEDULE A
1997-2 CLASS 2 - INITIAL POOL OF ADJUSTABLE RATE MORTGAGES - SETTLEMENT 6/25/97
<TABLE>
<CAPTION>
Principal
Zip Balance at
Sale ID Account Name Address City State Code Origination
- ------------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C>
SBC558 800164881 AGEE ANGELA T 9801 JACQUELINE DRIVE FORT WASHINGTON MD 20744 123,000.00
SBC558 800165938 MIGNANO MICHAEL 2 ORCHARD DR SCOTCH PLAINS NJ 07076 225,000.00
SBC558 800169054 DONEHOO TOMMY P 250 GROOVER ST BALL GROUND GA 30107 60,300.00
SBC558 800169401 ELICKER-DEVE ELLEN D 231233 GREENFIELD ST MANCHESTER PA 17345 144,300.00
SBC558 800169773 PAWLOWSKI THOMAS P 56 NEW ROAD KENDALL PARK NJ 08824 131,700.00
SBC558 800171324 MARTIN JOHN 207 WESTCHESTER AVENUE TUCKAHOE NY 10707 155,550.00
SBC558 800171381 STACKHOUSE STEPHEN J 320 CHANDLER STREET PHILADELPHIA PA 19111 64,890.00
SBC558 800171886 SCOTT LAMONT 93 PARKHILL COURT STATEN ISLAND NY 10301 94,500.00
SBC558 800175531 CRISCI MARIA 95-19 156TH AVENUE HOWARD BEACH NY 11414 225,000.00
SBC558 800175853 NELLIS STEVEN D 537 CHURCH STREET NEW BRITAIN CT 06051 71,120.00
SBC558 800176596 AMADITZ THOMAS J 5944 RT 356 LEECHBURG PA 15656 112,000.00
SBC558 800177065 PARKER SHERW DONNA 1321 FLYING POINT RD SOUTHAMPTON NY 11968 691,125.00
SBC558 800177552 CAMPBELL FRANCINE 6036 N 10TH STREET PHILADELPHIA PA 19141 46,400.00
SBC558 800178337 FAFRAK JOHN F 832 SOUTH 5TH STREET LINDENHURST NY 11757 154,800.00
SBC558 800181836 MILLER SHARON L 721 E MOUNTAIN AVE WILLIAMSPORT PA 17701 74,700.00
SBC558 800182446 LORD PHILIP M 28180 109TH AVENUE SOUTHEA KENT WA 98031 146,500.00
SBC558 800182503 BARRON DAVID R 186 LINDBERGH DRIVE ATLANTA GA 30305 159,750.00
SBC558 800184582 CASSIDY DEBROAH 15273 BURBANK DRIVE SPRING HILL FL 34609 84,000.00
SBC558 800184814 COVINGTON FRANCIS 107 SPIKE POINT COURT GOOSE CREEK SC 29445 238,500.00
SBC558 800185183 HWANG JO H. 626 E 35TH ST BALTIMORE MD 21218 43,200.00
SBC558 800185217 WACHTER PETER 30 GRUNDY PLACE MERRICK NY 11566 157,000.00
SBC558 800185548 NISSLEY SCOTT A 600 WATER ST MOUNT JOY PA 17552 104,400.00
SBC558 800185613 SCHUTT BRIAN B HC 1 BOX 172-2 GREELEY PA 18425 56,000.00
SBC558 800186223 LEASON DAVID A 55 URBAN STREET LYNN MA 01904 105,000.00
SBC558 800187247 FELIX GLORIA 1340 EAST 49TH STREET BROOKLYN NY 11230 225,000.00
SBC558 800187551 LANG AUDREY 15 OLIVER STREET WADING RIVER NY 11792 96,800.00
SBC558 800188690 SCHAEFFER HOWARD C 9343 DANNER ROAD KUTZTOWN PA 19530 202,500.00
SBC558 800189466 TRELLU JEAN DENIS 977 WOODGATE DRIVE PALM HARBOR FL 34685 129,600.00
SBC558 800190654 SCOTT WAIDE 11751 NORTHWEST 18TH COURT PLANTATION FL 33323 223,920.00
SBC558 800192577 FISHER LEO 14131 PITTENGER AVENUE PORT CHARLOTTE FL 33953 55,000.00
SBC558 800193146 ALCALA MARGARET H 322 SOUTH KENT RD SO KENT CT 06785 140,000.00
SBC558 800193625 RESH CHARLES E JR 107 LONGLEAF BIRCH HOLLOW EFFORT PA 18330 83,250.00
SBC558 800193930 CONROY THOMAS J 1321 SHELBY PARKWAY CAPE CORAL FL 33904 64,000.00
SBC558 800194706 MUNOZ JORGE 186 33RD STREET BROOKLYN NY 11232 130,000.00
SBC558 800195604 HITCHCOCK JEFFREY A. 258 BOSTON HILL ROAD ANDOVER CT 06232 56,000.00
SBC558 800196040 PRUDE JAMES S 855 MARSHALL AVENUE PITTSBURGH PA 15214 72,000.00
SBC558 800196370 FLEMING DWIGHT E 50 REMINGTON ROAD WINDSOR CT 06095 81,900.00
SBC558 800196602 NOTTMAN DAVID ALAN 600 PARK AVENUE HUNTINGTON NY 11743 160,000.00
SBC558 800197907 BARON DAN C 8 SHADY LANE RIDGEFIELD CT 06877 330,000.00
SBC558 800198285 BLASZKA ANTHONY 43 GEORGIAN BLVD JACKSON NJ 08527 106,600.00
SBC558 800199168 YELLETS RONALD H 209 WEST RIDGE STREET LANSFORD PA 18232 40,000.00
SBC558 800199846 PELOQUIN DONALD E 36 SECOND ST LEICESTER MA 01524 142,800.00
SBC558 800200453 DEMKO OKSANA 333 S BOND ST ELIZABETH NJ 07206 93,500.00
SBC558 800200875 TOLBERT MYRA DELL 6681 GREEN MEADOWS LANE MORROW GA 30260 50,085.00
SBC558 800201501 SALVO ANGELA 304 CAPUCHIN WAY ORANGE NJ 07050 107,100.00
SBC558 800202756 PALMER KAREN N 4 VALENTINE DRIVE NORFOLK MA 02058 165,000.00
SBC558 800202822 PLATA MARIA 1154 EAST 215TH STREET BRONX NY 10469 132,000.00
SBC558 800203275 FRANCO KEYLA 2783 BARKLEY AVENUE BRONX NY 10465 147,000.00
SBC558 800203309 BURCH MAUREEN C 578 NORTHERN PKWY UNIONDALE NY 11553 133,450.00
SBC558 800206070 FOSTER SUE 16200 SUNSET STRIP FT MYERS FL 33908 78,625.00
SBC558 800206831 PEYTON DANNY 7277 BRANDYWINE DRIVE ENGLEWOOD FL 34224 68,000.00
SBC558 800207003 NEWKIRK SANDRA A 3730 5TH AVENUE SOUTH ST PETERSBURG FL 33711 35,700.00
SBC558 800207219 SLAUGHENHOUP BARBARA L 21 ZAHNISER ROAD MERCER PA 16137 62,100.00
SBC558 800207433 PETERSON ROBERTA J 2724 LAWTON BLUFF ROAD CHARLOTTE NC 28226 93,750.00
SBC558 800208373 MERSON DANIEL L 4900 UPPER BECKLEYSVILLE R HAMPSTEAD MD 21074 121,500.00
SBC558 800208886 MCCLENDON MARVIN 1430 GREYLAND HILLS ROAD LAWRENCEVILLE GA 30245 99,000.00
SBC558 800209223 PANIO FRANCINE 6 WILDWOOD RD EASTCHESTER NY 10709 400,000.00
SBC558 800209314 CANNON KELLI 5800 ROSE TERRACE PLANTATION FL 33317 124,950.00
SBC558 800211898 URIBE JUAN B. 11 APPLELAND ROAD MONSEY NY 10952 172,200.00
<CAPTION>
Initial Minimum Maximum
Cut-off Date First Mort- Mort- Mort-
Principal Payment Maturity gage gage gage Gross
Sale ID Account Balance Date Date Rate Rate Rate Margin
- --------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C>
SBC558 800164881 123,000.00 07/01/97 06/01/27 11.500 11.500 17.500 7.500
SBC558 800165938 225,000.00 06/01/97 05/01/27 9.875 8.875 15.875 4.750
SBC558 800169054 60,300.00 07/01/97 06/01/27 11.500 10.500 17.500 6.750
SBC558 800169401 144,300.00 06/01/97 05/01/27 12.000 11.000 18.000 7.500
SBC558 800169773 131,700.00 07/01/97 06/01/27 11.125 10.125 17.125 6.250
SBC558 800171324 155,550.00 06/01/97 05/01/27 11.500 10.500 17.500 7.500
SBC558 800171381 64,890.00 06/01/97 05/01/27 10.125 9.125 16.125 5.000
SBC558 800171886 94,500.00 07/01/97 06/01/27 10.750 9.750 16.750 6.500
SBC558 800175531 225,000.00 06/01/97 05/01/27 10.500 10.500 16.500 7.500
SBC558 800175853 71,120.00 07/01/97 06/01/27 10.250 9.250 16.250 5.250
SBC558 800176596 112,000.00 07/01/97 06/01/27 11.000 10.000 17.000 7.500
SBC558 800177065 691,125.00 06/01/97 05/01/27 10.125 10.125 16.125 6.250
SBC558 800177552 46,384.33 06/01/97 05/01/27 11.250 11.250 17.250 7.000
SBC558 800178337 154,800.00 07/01/97 06/01/27 11.125 11.125 17.125 8.250
SBC558 800181836 74,700.00 06/01/97 05/01/27 9.625 9.625 15.625 6.750
SBC558 800182446 146,500.00 07/01/97 06/01/27 9.625 8.625 15.625 5.000
SBC558 800182503 159,750.00 06/01/97 05/01/27 9.875 9.875 15.875 6.000
SBC558 800184582 84,000.00 07/01/97 06/01/27 10.125 9.125 16.125 5.000
SBC558 800184814 238,500.00 06/01/97 05/01/27 10.250 9.250 16.250 5.500
SBC558 800185183 43,200.00 07/01/97 06/01/27 10.500 9.500 16.500 5.750
SBC558 800185217 157,000.00 07/01/97 06/01/27 9.250 8.250 15.250 4.500
SBC558 800185548 104,400.00 07/01/97 06/01/27 10.250 9.250 16.250 6.750
SBC558 800185613 56,000.00 07/01/97 06/01/27 10.875 9.875 16.875 5.500
SBC558 800186223 105,000.00 07/01/97 06/01/27 11.375 10.375 17.375 6.000
SBC558 800187247 225,000.00 07/01/97 06/01/27 10.375 10.375 16.375 6.750
SBC558 800187551 96,800.00 07/01/97 06/01/27 11.000 10.000 17.000 6.500
SBC558 800188690 202,500.00 07/01/97 06/01/27 10.500 9.500 16.500 4.500
SBC558 800189466 129,600.00 06/01/97 05/01/27 10.500 9.500 16.500 5.750
SBC558 800190654 223,920.00 07/01/97 06/01/27 10.625 9.625 16.625 5.500
SBC558 800192577 55,000.00 07/01/97 06/01/27 9.500 8.500 15.500 5.000
SBC558 800193146 140,000.00 07/01/97 06/01/27 13.500 12.500 19.500 8.500
SBC558 800193625 83,250.00 07/01/97 06/01/27 10.500 9.500 16.500 5.750
SBC558 800193930 64,000.00 07/01/97 06/01/27 10.250 9.250 16.250 5.250
SBC558 800194706 130,000.00 07/01/97 06/01/27 8.875 7.875 14.875 3.750
SBC558 800195604 56,000.00 07/01/97 06/01/27 11.875 10.875 17.875 7.000
SBC558 800196040 72,000.00 07/01/97 06/01/27 10.500 9.500 16.500 5.750
SBC558 800196370 81,900.00 07/01/97 06/01/27 10.625 9.625 16.625 6.000
SBC558 800196602 160,000.00 07/01/97 06/01/27 9.750 8.750 15.750 5.250
SBC558 800197907 330,000.00 07/01/97 06/01/27 8.875 7.875 14.875 3.750
SBC558 800198285 106,600.00 06/01/97 05/01/27 10.500 9.500 16.500 5.750
SBC558 800199168 40,000.00 07/01/97 06/01/27 10.875 9.875 16.875 6.000
SBC558 800199846 142,800.00 07/01/97 06/01/27 10.375 10.375 16.375 6.500
SBC558 800200453 93,500.00 07/01/97 06/01/27 9.500 8.500 15.500 4.750
SBC558 800200875 50,085.00 07/01/97 06/01/27 9.125 9.125 15.125 5.000
SBC558 800201501 107,100.00 07/01/97 06/01/27 12.000 11.000 18.000 7.500
SBC558 800202756 165,000.00 07/01/97 06/01/27 9.750 8.750 15.750 5.000
SBC558 800202822 132,000.00 07/01/97 06/01/27 11.875 10.875 17.875 7.000
SBC558 800203275 147,000.00 07/01/97 06/01/27 11.250 10.250 17.250 6.500
SBC558 800203309 133,450.00 07/01/97 06/01/27 10.875 10.875 16.875 7.500
SBC558 800206070 78,625.00 07/01/97 06/01/27 11.250 10.250 17.250 6.750
SBC558 800206831 68,000.00 07/01/97 06/01/27 10.625 9.625 16.625 6.500
SBC558 800207003 35,700.00 07/01/97 06/01/27 9.250 8.250 15.250 4.500
SBC558 800207219 62,100.00 07/01/97 06/01/27 10.500 9.500 16.500 5.750
SBC558 800207433 93,750.00 07/01/97 06/01/27 10.875 10.875 16.875 7.250
SBC558 800208373 121,500.00 07/01/97 06/01/27 9.875 9.875 15.875 6.750
SBC558 800208886 99,000.00 07/01/97 06/01/27 10.500 9.500 16.500 5.750
SBC558 800209223 400,000.00 07/01/97 06/01/27 8.625 8.625 14.625 5.000
SBC558 800209314 124,950.00 07/01/97 06/01/27 11.250 10.250 17.250 6.500
SBC558 800211898 172,200.00 07/01/97 06/01/27 10.000 9.000 16.000 5.250
</TABLE>
<PAGE>
Page 15 6/24/97
ALLIANCE FUNDING COMPANY
A DIVISION OF SUPERIOR BANK FSB
SALE SCHEDULE A
1997-2 CLASS 2 - INITIAL POOL OF ADJUSTABLE RATE MORTGAGES - SETTLEMENT 6/25/97
<TABLE>
<CAPTION>
Principal
Zip Balance at
Sale ID Account Name Address City State Code Origination
- ------------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C>
SBC558 800213050 BLAS ISMAEL 2142 GOLD KEY ROAD MILFORD PA 18337 55,675.00
SBC558 800213076 TORONY JOSEPH L JR 840 BUSHKILL STREET EASTON PA 18042 60,300.00
SBC558 800213464 DRAKE CRAIG 4067 DAVENTRY LANE PALM HARBOR FL 34685 99,900.00
SBC558 800213563 COLLINS LOIS M 1380 TIOGA AVENUE CLEARWATER FL 34616 36,900.00
SBC558 800216558 FISCHETTI RICHARD 1036 SPAR AVENUE BEACHWOOD NJ 08722 104,550.00
SBC558 800216574 RUTZ GARY G 200 GRAYSTONE WAY ALPHARETTA GA 30202 184,050.00
SBC558 800218240 SOBLE ROBERT L 12618 BLUE HERON WAY LEESBURG FL 34788 104,000.00
SBC558 800219123 MUNOZ ORLANDO 1 ECHO LAKE ROAD TOBYHANNA PA 18466 151,300.00
SBC558 800220154 RICHARDS FRANCIS A 8 LISA COURT SAYREVILLE NJ 08859 204,000.00
--------------------------------------- -----------------
127 Sale Total 15,670,224.00
627 Total with Superior 74,999,865.00
<CAPTION>
Initial Minimum Maximum
Cut-off Date First Mort- Mort- Mort-
Principal Payment Maturity gage gage gage Gross
Sale ID Account Balance Date Date Rate Rate Rate Margin
- --------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C>
SBC558 800213050 55,675.00 07/01/97 06/01/27 11.250 10.250 17.250 6.500
SBC558 800213076 60,300.00 07/01/97 06/01/27 10.500 9.500 16.500 5.750
SBC558 800213464 99,900.00 07/01/97 06/01/27 8.875 7.875 14.875 3.750
SBC558 800213563 36,900.00 07/01/97 06/01/27 10.250 9.250 16.250 5.750
SBC558 800216558 104,550.00 07/01/97 06/01/27 11.250 10.250 17.250 6.500
SBC558 800216574 184,050.00 07/01/97 06/01/27 8.875 8.875 14.875 5.000
SBC558 800218240 104,000.00 07/01/97 06/01/27 12.250 11.250 18.250 7.250
SBC558 800219123 151,300.00 07/01/97 06/01/27 10.500 9.500 16.500 5.500
SBC558 800220154 204,000.00 07/01/97 06/01/27 7.625 7.625 13.625 3.750
------------- --------------------------------
15,576,455.11 10.377 9.669 16.377 5.949
74,887,022.65 10.489 9.831 16.489 6.185
</TABLE>
<PAGE>
Page 16 6/24/97
ALLIANCE FUNDING COMPANY
A DIVISION OF SUPERIOR BANK FSB
SALE SCHEDULE A
1997-2 CLASS 2 - INITIAL POOL OF ADJUSTABLE RATE MORTGAGES - SETTLEMENT 6/25/97
<TABLE>
<CAPTION>
Principal
Zip Balance at
Sale ID Account Name Address City State Code Origination
- ------------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C>
BS30 161409305 HANELINE WAYNE D 5470 TUBBS RD WATERFORD MI 48327 113,600.00
BS30 161414297 LEE JOHNNIE M 7251 S. DAMEN AVENUE CHICAGO IL 60636 52,000.00
BS30 161420179 ROBERTS CARI 258 EAST 6850 SOUTH MIDVALE UT 84047 40,000.00
BS30 161425079 MURRIETTA LYDIA 2916 ARAPAHOE STREET DENVER CO 80205 42,000.00
BS30 161425871 CARROLL CHRISTOPHE G 72743 SHOESTRING ROAD COTTAGE GROVE OR 97424 126,000.00
BS30 161426135 BENSON CHARLES R 1310 PROSPECT AVENUE DES PLAINES IL 60018 116,400.00
BS30 161426945 WILLIAMS LONNIE L 5602 S. ADA CHICAGO IL 60636 40,500.00
BS30 161428115 LOVE-TUCKER JOHNNIE SUE 1241 DEERING GARDEN CITY MI 48135 56,300.00
BS30 161429022 YAMANI MOHAMAD 5908 ARGYLE DEARBORN MI 48126 108,000.00
BS30 161429402 DANG TUONG 4854 WEST WAKE POINT DRIVE WEST VALLEY CITY UT 84120 144,328.00
BS30 161430384 CAPPELLO GLENN 310 KIER STREET KINGMAN AZ 86401 35,000.00
BS30 161430400 CAPPELLO GLENN 412 KIER STREET KINGMAN AZ 86401 45,500.00
BS30 161433701 PURSER DAVID L 1217 W. 2ND STREET HOBART IN 46342 45,600.00
BS30 161434220 KASH MAHER Z 1874 CANAL STREET COMMERCE MI 48382 81,000.00
BS30 161437017 BRENNER JANICE M 3945 TEAKWOOD STREET N.E. NORTH CANTON OH 44721 60,000.00
BS30 161437355 SCHULTA ROBIN A 918 LINDEN ST. WEST BEND WI 53095 94,700.00
BS30 161440417 SHOAFF DAVID B 8485 BIRTHSTONE AVENUE LAS VEGAS NV 89117 113,347.00
BS30 161441399 MANLEY LINDA C 180 KNOLL AVENUE CRAIG CO 81625 127,600.00
BS30 161442157 CAREW THOMAS J 427 S. SIDNEY STREET KIMBERLY WI 54136 72,000.00
BS30 161442785 VICKERS JOHN E 3093 SILVERBROOK ROCHESTER HILLS MI 48306 249,900.00
BS30 161443361 LOFGREN JENNIFER H 710 EAST PONDEROSA DRIVE SANDY UT 84094 91,500.00
BS30 161443742 WASHINGTON ALFRED M 8948 WARD DETROIT MI 48228 33,700.00
BS30 161444005 RAMOS ANGEL M 1929 POPLAR LANE SW ALBUQUERQUE NM 87105 70,550.00
BS30 161444161 WHEDBEE JAMIE 1901 SOUTH SADDLE STREET GILBERT AZ 85233 121,750.00
BS30 161444898 HARNESS W WILLIAM JR 3228 LA VETA DRIVE NE ALBUQUERQUE NM 87110 78,750.00
BS30 161445044 SIMON MONICA 6600 CIBOLA CIRCLE PRESCOTT AZ 86303 82,000.00
BS30 161445242 SCHMIDT MICHAEL ANTHONY 440 SIOUX DR. BOLINGBROOK IL 60440 105,300.00
BS30 161445366 ZACCONE DEDRA 804 FLOWERS AVENUE STREAMWOOD IL 60107 112,000.00
BS30 161445473 ROBINSON ROY E JR 53441 ELYSIA DRIVE CHESTERFIELD MI 48051 134,700.00
BS30 161445937 ONZO FRANK 310 REDDING ROAD CAMPBELL CA 95008 355,500.00
BS30 161447511 DAHLGREN KAREN E 2268 GARLAND STREET SYLVAN LAKE MI 48320 120,000.00
BS30 161447685 RACELIS FELICIANO E 746 NORTH PEBBLE STREET GILBERT AZ 85234 124,000.00
BS30 161448717 RAIMI JENNIFER 42 WILDERNESS DRIVE BRECKENRIDGE CO 80424 160,000.00
BS30 161448998 RAGLAND RANDOLPH R 1722 LINWOOD AVENUE COLUMBUS OH 43207 46,800.00
BS30 161450697 BATENBURG JR R M 5762 SOUTH KINGSTON WAY ENGLEWOOD CO 80111 207,400.00
BS30 161452040 PARRISH BRUCE E JR 1632 N. CHESTNUT ARLINGTON HEIGHTS IL 60004 147,000.00
BS30 161452263 YOUSEF TAHER 7643 WEST 163RD PLACE TINLEY PARK IL 60477 149,400.00
BS30 161452628 VAN NGUYEN CHIEU 9770 WEST GOULD AVENUE LITTLETON CO 80123 149,600.00
BS30 161452826 ENGEL BRETT E 10226 NORTH LEONARD STREET PORTLAND OR 97203 71,920.00
BS30 161453824 MAVOR CAREY WAYNE 2636 NORTH 54TH PLACE PHOENIX AZ 85008 105,300.00
BS30 161454384 ENGEL SHARRON S 2703 WALNUT STREET PORTAGE IN 46368 64,500.00
BS30 161454665 HARO MARIA M 644 WEST 2650 NORTH CLINTON UT 84015 80,000.00
BS30 161454996 MCAFEE MICHAEL R 9431 GARFIELD AVE. BROOKFIELD IL 60513 81,000.00
BS30 161455191 LEWELLYN JOHN M 692 DEAN STREET SOUTH ELGIN IL 60177 83,200.00
BS30 161456348 MCDONALD ANTHONY 5997 EAST RED DOG DRIVE CAVE CREEK AZ 85331 245,500.00
BS30 161456850 WELCH DEAN M 704 GATES STREET WEST CHICAGO IL 60185 108,000.00
BS30 161457171 ARIEMMA STEPHEN 10465 EAST CANDLEWOOD DRIV SCOTTSDALE AZ 85255 245,000.00
BS30 161458070 GOLD MICHAEL 4939 CHERRY BLOSSOM WEST BLOOMFIELD MI 48324 275,000.00
BS30 161460035 STRUCK FREDERICK A 18277 WEST 58TH DRIVE GOLDEN CO 80403 90,000.00
BS30 161460480 AL-GHAZALY HAITHAM 4431 JONATHON DEARBORN MI 48126 105,300.00
BS30 161460548 DAVIS CHARLES D 2828 FENTON ROAD HARTLAND MI 48353 191,200.00
--------------------------------------- -----------------
51 Sale Total 5,799,645.00
<CAPTION>
Initial Minimum Maximum
Cut-off Date First Mort- Mort- Mort-
Principal Payment Maturity gage gage gage Gross
Sale ID Account Balance Date Date Rate Rate Rate Margin
- ---------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C>
BS30 161409305 113,481.76 05/01/97 04/01/27 9.250 8.250 15.250 5.500
BS30 161414297 51,981.95 05/01/97 04/01/27 11.125 10.125 17.125 6.000
BS30 161420179 39,965.39 04/01/97 03/01/27 10.125 10.125 16.125 6.500
BS30 161425079 41,975.21 05/01/97 04/01/27 8.625 8.625 14.625 5.250
BS30 161425871 125,938.02 05/01/97 04/01/27 9.500 8.500 15.500 5.000
BS30 161426135 116,347.39 05/01/97 04/01/27 11.500 10.500 17.500 6.750
BS30 161426945 40,482.08 05/01/97 04/01/27 10.000 10.000 16.000 6.000
BS30 161428115 56,249.99 05/01/97 04/01/27 10.000 10.000 16.000 6.000
BS30 161429022 107,944.01 05/01/97 04/01/27 9.250 8.250 15.250 4.500
BS30 161429402 144,258.86 05/01/97 04/01/27 9.625 9.625 15.625 6.250
BS30 161430384 34,972.06 05/01/97 04/01/27 10.500 9.500 16.500 6.250
BS30 161430400 45,463.68 05/01/97 04/01/27 10.500 9.500 16.500 6.250
BS30 161433701 45,578.40 05/01/97 04/01/27 12.875 11.875 18.875 7.500
BS30 161434220 80,931.78 05/01/97 04/01/27 10.250 9.250 16.250 6.750
BS30 161437017 60,000.00 06/01/97 05/01/27 11.375 10.375 17.375 6.000
BS30 161437355 94,667.14 05/01/97 04/01/27 11.125 10.125 17.125 6.250
BS30 161440417 113,304.33 05/01/97 04/01/27 10.750 9.750 16.750 6.250
BS30 161441399 127,558.08 05/01/97 04/01/27 11.375 10.375 17.375 6.750
BS30 161442157 71,960.67 05/01/97 04/01/27 9.000 8.000 15.000 4.500
BS30 161442785 249,773.80 05/01/97 04/01/27 9.375 9.375 15.375 5.750
BS30 161443361 91,443.12 05/01/97 04/01/27 8.375 8.375 14.375 5.000
BS30 161443742 33,688.31 05/01/97 04/01/27 11.125 10.125 17.125 6.000
BS30 161444005 70,488.19 05/01/97 04/01/27 10.875 9.875 16.875 6.375
BS30 161444161 121,710.00 05/01/97 04/01/27 11.375 10.375 17.375 6.750
BS30 161444898 78,685.42 05/01/97 04/01/27 10.375 9.375 16.375 5.750
BS30 161445044 81,932.77 05/01/97 04/01/27 10.375 9.375 16.375 5.750
BS30 161445242 105,249.55 05/01/97 04/01/27 9.625 9.625 15.625 5.750
BS30 161445366 112,000.00 06/01/97 05/01/27 12.875 11.875 18.875 7.500
BS30 161445473 134,628.32 05/01/97 04/01/27 9.125 9.125 15.125 5.500
BS30 161445937 355,310.81 05/01/97 04/01/27 9.125 9.125 15.125 5.500
BS30 161447511 119,929.15 05/01/97 04/01/27 8.625 7.625 14.625 4.750
BS30 161447685 123,966.44 05/01/97 04/01/27 12.250 11.250 18.250 7.250
BS30 161448717 160,000.00 06/01/97 05/01/27 9.000 8.000 15.000 4.500
BS30 161448998 46,762.64 05/01/97 04/01/27 10.500 9.500 16.500 5.750
BS30 161450697 207,300.64 05/01/97 04/01/27 9.625 9.625 15.625 6.250
BS30 161452040 147,000.00 06/01/97 05/01/27 10.250 9.250 16.250 5.750
BS30 161452263 149,326.51 05/01/97 04/01/27 9.500 9.500 15.500 6.000
BS30 161452628 149,522.45 05/01/97 04/01/27 9.250 8.250 15.250 4.750
BS30 161452826 71,850.82 05/01/97 04/01/27 9.625 8.625 15.625 5.000
BS30 161453824 105,254.64 05/01/97 04/01/27 10.125 10.125 16.125 6.500
BS30 161454384 64,478.82 05/01/97 04/01/27 11.375 10.375 17.375 6.000
BS30 161454665 79,970.69 05/01/97 04/01/27 10.875 10.875 16.875 7.250
BS30 161454996 80,938.73 05/01/97 04/01/27 10.750 9.750 16.750 5.500
BS30 161455191 83,160.65 05/01/97 04/01/27 12.875 11.875 18.875 7.500
BS30 161456348 245,382.38 05/01/97 04/01/27 9.625 9.625 15.625 6.000
BS30 161456850 107,952.22 05/01/97 04/01/27 10.000 9.000 16.000 5.250
BS30 161457171 244,919.53 05/01/97 04/01/27 11.375 10.375 17.375 6.750
BS30 161458070 274,890.71 05/01/97 04/01/27 10.500 9.500 16.500 6.750
BS30 161460035 90,000.00 06/01/97 05/01/27 7.125 7.125 13.125 3.500
BS30 161460480 105,198.70 05/01/97 04/01/27 9.625 9.625 15.625 5.750
BS30 161460548 191,148.25 05/01/97 04/01/27 12.250 11.250 18.250 8.250
------------ --------------------------------
5,796,925.06 10.181 9.568 16.181 6.002
</TABLE>
<PAGE>
Page 17 6/24/97
ALLIANCE FUNDING COMPANY
A DIVISION OF SUPERIOR BANK FSB
SALE SCHEDULE A
1997-2 CLASS 2 - INITIAL POOL OF ADJUSTABLE RATE MORTGAGES - SETTLEMENT 6/25/97
<TABLE>
<CAPTION>
Principal
Zip Balance at
Sale ID Account Name Address City State Code Origination
- ------------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C>
BSC32P 180052862 MORALES LEONER 136 CAMPECHE LN KISSIMMEE FL 34743 58,800.00
BSC32P 180077406 ELLIS E CHARLES 479 NAUGATUCK AVE MILFORD CT 06460 72,000.00
BSC32P 180080806 MACE BONNIE M 411 5TH ST NEW CASTLE DE 19720 76,500.00
BSC32P 180084782 DEFILLIPPIS YVONNE 4408 W OKLAHOMA AVE TAMPA FL 33616 49,725.00
BSC32P 180099798 VARLEY EDWARD 210 N GREEN ST TUCKERTON NJ 08087 52,000.00
BSC32P 180101321 HIGHT MICHAEL W 4435 WELLINGTON TERRACE DECATUR GA 30035 78,410.00
BSC32P 180101875 REYES MICHAEL 10430 BUENOS AIRES STREET COOPER CITY FL 33026 176,000.00
BSC32P 180104416 CAPONE NANCY 4 RD HUGEUNOT ROAD LAKE CARMEL NY 10512 93,600.00
BSC32P 180105975 AVERY MICHAEL L 423 FILLMORE AVE SCHENECTADY NY 12304 110,000.00
BSC32P 180106171 MOGILSKI ROBERT 117 SAINT MARKS PL ROSLYN HEIGHTS NY 11577 126,650.00
BSC32P 180109225 TURNER KEITH A 13603 VINCENT WAY BOWIE MD 20715 246,700.00
BSC32P 180109704 FORRESTER JEAN 115-06 223RD STREET JAMAICA NY 11411 130,500.00
BSC32P 180110389 GORITY ROBERT D SR 1716 4TH AVENUE ALTOONA PA 16602 27,080.00
BSC32P 180110587 BROWN BRENDA D 1433 S HANCOCK AVE DOVER DE 19901 93,150.00
BSC32P 180111098 CHARLES JENNIFER 11 ORCHARD PL VALLEY STREAM NY 11580 152,000.00
BSC32P 180113375 JOSEPH JETRIS MERIE 236 E 89TH ST BROOKLYN NY 11236 225,000.00
BSC32P 180114365 NADOLNY MARCELLA 20 CORNFLOWER LN EAST NORTHPORT NY 11731 190,000.00
BSC32P 180116071 POLISI MARIAELENA 135-35 95TH STREET OZONE PARK NY 11417 110,500.00
BSC32P 180116477 VANDERWATERE ROBERT 548 WESTCHESTER AVE RYE BROOK NY 10573 242,900.00
BSC32P 180118879 GOTTESMAN ABRAHAM 4424 17TH AVE BROOKLYN NY 11204 95,000.00
BSC32P 180119703 VICARO ELIZABETH ANN 161 MAPLE AVE KEANSBURG NJ 07734 92,650.00
BSC32P 180119885 BECK JOSEPH P 233 KIMBERLY LANE EPHRATA PA 17522 97,500.00
BSC32P 180121048 KEHOE DONALD W 65 EDGEWOOD AVENUE SMITHTOWN NY 11787 230,000.00
BSC32P 180121667 HAWKINS TERESA J 1303 BARNES STREET REIDSVILLE NC 27320 74,250.00
BSC32P 180124216 WALLACE REGINALD 5212 AVENUE I BROOKLYN NY 11234 151,300.00
BSC32P 180128050 ELALFY HELEN 347-349 DAKOTA STREET PATERSON NJ 07503 80,000.00
BSC32P 180132284 SILVERBERG MARTA C 80 HIGHWOOD AVE TENAFLY NJ 07670 220,000.00
BSC32P 180133274 KATICH FRANK J III 161 LIMERICK ROAD WEXFORD PA 15090 90,500.00
BSC32P 180134090 GALVIS A MAURICE 12 NAUDAIN CT WILMINGTON DE 19808 108,000.00
BSC32P 180134231 CHARLES WILLIS J 520 WILDE GREEN DR ROSWELL GA 30075 214,340.00
BSC32P 180134306 KAUTTER MARK 1 GIRARD AVENUE SAYLORSBURG PA 18353 33,600.00
BSC32P 180134892 COLANTUONO EMIL G 3 CROSSROADS COURT DAYTON NJ 08810 191,250.00
BSC32P 180136632 THOMPSON DENNIS 1215 BUTLER PARK ROAD WASHINGTON NJ 07882 100,300.00
BSC32P 180142358 DEVANEY CARRIE JEAN 8385 TOLLES DRIVE NORTHEAS NORTH FORT MYERS FL 33917 46,000.00
BSC32P 180142549 SILVESTER LUIS G. 22-24 SEELEY ST PATERSON NJ 07501 123,500.00
BSC32P 180142846 THOMPSON CATHERINE F 133 NORTH GREENE AVENUE LINDENHURST NY 11757 112,500.00
BSC32P 180143893 NAIMOLI ANGELA 178 KINGSLEY AVE STATEN ISLAND NY 10314 135,900.00
BSC32P 180145005 STORMS WILLIAM D JR 87 MONROE LAKE SHRS EAST STROUDSBURG PA 18301 90,000.00
BSC32P 180145732 CABELL KARIN M 535 WEST FIRST STREET HAZLETON PA 18201 19,350.00
BSC32P 180147654 GERMAN PIERRE ANDRE 519 RITA DR ODENTON MD 21113 106,250.00
BSC32P 180148389 SPENCER GARFIELD 59 HIGGINS AV BRIDGEPORT CT 06606 49,725.00
BSC32P 180148876 ASCOLESI JUDY 11 VINCENT AVE STATEN ISLAND NY 10306 161,100.00
BSC32P 180149387 MOORE EMMY 355 N LONG BEACH AVE FREEPORT NY 11520 35,000.00
BSC32P 180149783 LOUIS PHENOLD J 193 DAKOTA AVE BAY SHORE NY 11706 117,000.00
BSC32P 180150799 DELANEY ROBERT D 111 BOSTON AVE EGG HARBOR TOWNSHIP NJ 08221 90,000.00
BSC32P 180152019 KAYAL JAMES A 115 EAST WILKES BARRE STRE EASTON PA 18042 49,000.00
BSC32P 180156275 SOBEK LESLIE S 391 SOUNDVIEW AVENUE STRATFORD CT 06497 80,000.00
BSC32P 180163974 WILLIAMS JESSE J 2058 THURMONT AVENUE AKRON OH 44313 108,000.00
BSC32P 180165094 MATCHETT INELL HOLMES 903 BROOKHAVEN DRIVE VALDOSTA GA 31601 50,310.00
--------------------------------------- -----------------
49 Sale Total 5,463,840.00
100 Total with Banco Santander 11,263,485.00
<CAPTION>
Initial Minimum Maximum
Cut-off Date First Mort- Mort- Mort-
Principal Payment Maturity gage gage gage Gross
Sale ID Account Balance Date Date Rate Rate Rate Margin
- ---------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C>
BSC32P 180052862 58,653.09 02/01/97 01/01/27 9.500 8.500 15.500 5.250
BSC32P 180077406 71,867.54 03/01/97 02/01/27 9.875 8.875 15.875 6.000
BSC32P 180080806 76,402.93 03/01/97 02/01/27 10.250 9.250 16.250 5.750
BSC32P 180084782 49,618.16 03/01/97 02/01/27 11.000 10.000 17.000 6.500
BSC32P 180099798 51,964.72 04/01/97 03/01/27 11.250 10.250 17.250 6.000
BSC32P 180101321 78,381.27 05/01/97 04/01/27 10.875 9.875 16.875 6.250
BSC32P 180101875 175,886.98 04/01/97 03/01/27 11.500 10.500 17.500 7.250
BSC32P 180104416 93,576.71 05/01/97 04/01/27 12.625 11.625 18.625 8.250
BSC32P 180105975 109,844.78 04/01/97 03/01/27 9.750 9.750 15.750 5.750
BSC32P 180106171 126,607.24 05/01/97 04/01/27 11.250 10.250 17.250 6.500
BSC32P 180109225 246,445.49 04/01/97 03/01/27 10.000 9.000 16.000 5.250
BSC32P 180109704 130,426.84 05/01/97 04/01/27 8.875 8.875 14.875 5.000
BSC32P 180110389 27,058.95 04/01/97 03/01/27 10.625 9.625 16.625 7.250
BSC32P 180110587 93,112.98 05/01/97 04/01/27 10.500 9.500 16.500 5.750
BSC32P 180111098 151,937.95 05/01/97 04/01/27 10.375 9.375 16.375 6.750
BSC32P 180113375 224,820.40 04/01/97 03/01/27 10.500 9.500 16.500 5.750
BSC32P 180114365 189,874.59 04/01/97 03/01/27 11.375 10.375 17.375 6.750
BSC32P 180116071 110,460.60 05/01/97 04/01/27 11.000 10.000 17.000 7.750
BSC32P 180116477 242,763.83 05/01/97 04/01/27 8.875 7.875 14.875 3.750
BSC32P 180118879 94,969.64 05/01/97 04/01/27 11.500 10.500 17.500 6.125
BSC32P 180119703 92,574.03 05/01/97 04/01/27 10.375 10.375 16.375 6.500
BSC32P 180119885 97,443.92 04/01/97 03/01/27 12.000 11.000 18.000 7.000
BSC32P 180121048 229,895.51 05/01/97 04/01/27 9.875 9.875 15.875 6.250
BSC32P 180121667 74,177.68 05/01/97 04/01/27 9.625 9.625 15.625 5.750
BSC32P 180124216 151,233.06 05/01/97 04/01/27 10.000 9.000 16.000 6.000
BSC32P 180128050 79,977.11 05/01/97 04/01/27 12.000 11.000 18.000 7.250
BSC32P 180132284 220,000.00 06/01/97 05/01/27 8.375 7.375 14.375 3.500
BSC32P 180133274 90,423.78 04/01/97 03/01/27 10.250 9.250 16.250 5.500
BSC32P 180134090 107,971.58 05/01/97 04/01/27 12.375 11.375 18.375 7.500
BSC32P 180134231 214,122.66 05/01/97 04/01/27 9.375 9.375 15.375 6.750
BSC32P 180134306 33,587.69 05/01/97 04/01/27 10.875 9.875 16.875 6.750
BSC32P 180134892 191,250.00 06/01/97 05/01/27 7.375 7.375 13.375 3.750
BSC32P 180136632 100,208.50 05/01/97 04/01/27 9.875 8.875 15.875 6.250
BSC32P 180142358 45,956.55 05/01/97 04/01/17 12.500 11.500 18.500 7.500
BSC32P 180142549 123,461.61 05/01/97 04/01/27 11.625 10.625 17.625 7.250
BSC32P 180142846 112,410.20 05/01/97 04/01/27 10.500 9.500 16.500 5.750
BSC32P 180143893 135,843.01 05/01/97 04/01/27 10.250 10.250 16.250 6.625
BSC32P 180145005 90,000.00 06/01/97 05/01/27 10.250 9.250 16.250 5.750
BSC32P 180145732 19,342.31 06/01/97 05/01/27 10.500 9.500 16.500 5.750
BSC32P 180147654 106,250.00 06/01/97 05/01/27 10.875 9.875 16.875 6.250
BSC32P 180148389 49,704.70 05/01/97 04/01/27 10.375 10.375 16.375 6.500
BSC32P 180148876 161,035.98 05/01/97 04/01/27 10.500 9.500 16.500 6.250
BSC32P 180149387 34,992.00 05/01/97 04/01/27 13.000 12.000 19.000 7.750
BSC32P 180149783 116,954.75 05/01/97 04/01/27 10.625 9.625 16.625 6.625
BSC32P 180150799 89,917.90 05/01/97 04/01/27 9.875 8.875 15.875 5.000
BSC32P 180152019 48,967.67 05/01/97 04/01/27 11.375 10.375 17.375 6.000
BSC32P 180156275 79,900.20 05/01/97 04/01/27 8.375 7.375 14.375 4.750
BSC32P 180163974 107,954.71 05/01/97 04/01/27 10.250 9.250 16.250 5.750
BSC32P 180165094 50,266.48 05/01/97 04/01/27 10.125 9.125 16.125 5.000
------------- --------------------------------
5,460,498.28 10.281 9.506 16.281 5.971
11,257,423.34 10.230 9.538 16.230 5.987
</TABLE>
<PAGE>
Page 18 6/24/97
ALLIANCE FUNDING COMPANY
A DIVISION OF SUPERIOR BANK FSB
SALE SCHEDULE A
1997-2 CLASS 2 - INITIAL POOL OF ADJUSTABLE RATE MORTGAGES - SETTLEMENT 6/25/97
<TABLE>
<CAPTION>
Principal
Zip Balance at
Sale ID Account Name Address City State Code Origination
- -----------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C>
MLC164 180003220 BUTLER JOSEPH L 289 BEACON LIGHT RD PARKESBURG PA 19365 35,000.00
MLC164 180015281 RODRIGUEZ ALFREDO 24 SNIFFEN ST NORWALK CT 06851 132,000.00
MLC164 180024887 MOORE STEPHEN D 1769 ROCHESTER ST LIMA NY 14485 48,750.00
MLC164 180026718 SAWYER ESTHER H 104 KENSINGTON AVE JERSEY CITY NJ 07304 92,700.00
MLC164 180053449 MOORE NANCY A 301 CLAYTON RD AUBURNDALE FL 33823 55,250.00
MLC164 180064248 KIM MI JIN 623 ROUTE 206 TRENTON NJ 08610 89,500.00
MLC164 180078024 MORRIS SYLVIA 68 PRINCETON LN WILLINGBORO NJ 08046 59,150.00
MLC164 180078792 RUNU FAREENA W 39-25 65TH PLACE FLUSHING NY 11377 152,000.00
MLC164 180083321 WILLIAMS MARY ANN 133 TORPEDO AVE MANAHAWKIN NJ 08050 132,300.00
MLC164 180085094 MEHTA PRAVIN C. 1457 LAVISTA ROAD ATLANTA GA 30324 166,500.00
MLC164 180091142 LEE JUNG W 579 CLOSTER DOCK RD CLOSTER NJ 07624 201,450.00
MLC164 180091902 TELAHUN SOLOMON 8200 LITTLE RIVER TPKE ANNANDALE VA 22003 613,615.00
MLC164 180097271 CARD JOYCE 100 BLACKROCK RD COVENTRY RI 02816 60,000.00
MLC164 180097404 MUNN MARK S 44 46 BISSELL STREET MANCHESTER CT 06040 83,700.00
MLC164 180098766 TRONCO DANIEL A SR 16 IVINS DR NEW EGYPT NJ 08533 108,000.00
MLC164 180101446 FORCHIELLI CATHY 19 PEARL DR DOYLESTOWN PA 18901 102,510.00
MLC164 180101800 FRAWLEY TIMOTHY P 100 ARGYLE RD WEST HEMPSTEAD NY 11552 100,000.00
MLC164 180103236 VAINIERI ANTHONY JR 8107 4TH AVE NORTH BERGEN NJ 07047 170,000.00
MLC164 180105348 CANFIELD HEIDI M 220 BLACK HORSE RD CHESTER SPRINGS PA 19425 186,150.00
MLC164 180107039 BERRIOS HECTOR 105 WILLOW AVE NORTH PLAINFIELD NJ 07060 109,900.00
MLC164 180110454 MARKE RUZADI 14 ALEXSANDRA COURT STATEN ISLAND NY 10312 72,960.00
MLC164 180110991 MILLARD GLENN A 33 WALNUT ST BLOOMSBURG PA 17815 70,200.00
MLC164 180118606 DERAFFAELE JOANN 38 RIVER RD CROMWELL CT 06416 48,000.00
MLC164 180121121 CORLETO BRIAN D 277 NAUTILUS DRIVE MANAHAWKIN NJ 08050 105,000.00
MLC164 180123952 ESPOSITO TONIANN 1346 79TH STREET BROOKLYN NY 11228 208,000.00
MLC164 180125148 CASTRO JOSEPH F JR 6332 HERITAGE POINT NORTH LOCKPORT NY 14904 95,625.00
MLC164 180125742 LORENZI FRANK P 266 LOCKTOWN RD FLEMINGTON NJ 08822 152,000.00
MLC164 180126203 SIMON THERESA M 1730 E 37TH ST BROOKLYN NY 11234 121,550.00
MLC164 180127532 HOLLEY JOHN A 32 DAVIS AVE PISCATAWAY NJ 08854 100,750.00
MLC164 180128027 RALPH TONEY 106 WILBUR WEST BLOOM BLVD EAST STROUDSBURG PA 18301 92,225.00
MLC164 180128746 SALM JOSEPH F 350 HULTON RD NEW KENSINGTON PA 15068 72,000.00
MLC164 180129223 LEE KATHLEEN A 156 CHANGEWATER RD WASHINGTON NJ 07882 160,000.00
MLC164 180130379 GALATOLO ROBERT 9408 DRESDEN LANE PORT RICHEY FL 34668 45,000.00
MLC164 180130809 CAMPANILE PATRICIA 417 CEDAR ST BOONTON NJ 07005 153,000.00
MLC164 180130858 DIPPMAN RUSSELL T 11 MIDDLE VALLEY RD LONG VALLEY NJ 07853 212,500.00
MLC164 180133464 DECKARD ART W 117 BEECH ST CARROLLTOWN PA 15722 53,450.00
MLC164 180134355 BARNES KENNETH H JR 639 CLEVELAND DR CHEEKTOWAGA NY 14225 48,750.00
MLC164 180135204 BOUNTINAS JOHN 26-40 29TH ST ASTORIA NY 11102 220,000.00
MLC164 180135329 PRICE JOSEPH H 21 HILLCREST RD RIVA MD 21140 44,000.00
MLC164 180135535 WEIS MARTIN A 1580 OLD HUNTERS TRACE MARIETTA GA 30062 99,200.00
MLC164 180135733 RHEN LEE K 25 N CHERRY ST LEBANON PA 17046 42,350.00
MLC164 180136764 GRAU CYNTHIA 2 HEATHER HILL WAY LEBANON NJ 08833 193,100.00
MLC164 180138786 WORMLY VERNA V 7370 SHELBOURN STREET PHILADELPHIA PA 19111 84,906.00
MLC164 180139693 BARNES CRAIG C 16 MACKENZIE RD WATERFORD CT 06385 85,000.00
MLC164 180140949 OWEN LINDA M 14 CROSS ST BEACON NY 12508 121,800.00
MLC164 180140964 OLIVERI MELCHIORRA 1724 LARCH CT PEEKSKILL NY 10566 81,450.00
MLC164 180142341 MEYERS GLEN 72 MARIANNE ST STATEN ISLAND NY 10302 135,150.00
MLC164 180144784 GILLIGAN MICHAEL S 2125 PRINCETON STREET PHILADELPHIA PA 19149 47,950.00
MLC164 180145096 JACKSON TREBOR J 304 CREECH STREET GOLDSBORO NC 27530 64,350.00
MLC164 180145146 BAILEY JESSE L 46 SUNRISE TRAIL EAST STROUDSBURG PA 18301 62,900.00
MLC164 180146375 BLACKMON BOBBY DALE 3 RT BOX 391 BATESBURG SC 29006 58,500.00
MLC164 180146425 BAKER WILLIAM M JR 424 GLEN AVENUE ELLWOOD CITY PA 16117 61,200.00
MLC164 180147837 GARDNER CURTIS L 19 HIGH POINT WAY PISCATAWAY NJ 08854 172,800.00
MLC164 180149346 HOLCOMB JOANNE 14 ANN ST CORTLANDT MANOR NY 10566 95,850.00
MLC164 180149841 SIGLER GERALDINE A 113 IDLEWILD RD EDISON NJ 08817 120,000.00
MLC164 180150138 RIVIER JENNIFER 4000 MAIN ST AMHERST NY 14226 169,150.00
MLC164 180150930 REINIER MICHAEL J 13 REGIS COURT CHARLESTON SC 29407 56,185.00
MLC164 180151359 HENDERSON JAMES G 227 13 TH ST SURF CITY NJ 08008 240,500.00
MLC164 180151516 REINHART MICHAEL K 309 MILLER STREET STRASBURG PA 17579 73,600.00
<CAPTION>
Initial Minimum Maximum
Cut-off Date First Mort- Mort- Mort-
Principal Payment Maturity gage gage gage Gross
Sale ID Account Balance Date Date Rate Rate Rate Margin
- ---------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C>
MLC164 180003220 34,808.65 10/01/96 09/01/26 10.875 10.875 16.875 7.000
MLC164 180015281 131,710.87 01/01/97 12/01/26 10.125 10.125 16.125 6.750
MLC164 180024887 48,684.75 03/01/97 02/01/27 10.000 9.000 16.000 5.500
MLC164 180026718 92,442.05 12/01/96 11/01/26 9.875 9.875 15.875 5.750
MLC164 180053449 55,167.90 02/01/97 01/01/27 10.875 9.875 16.875 6.250
MLC164 180064248 89,293.34 01/01/97 12/01/26 9.875 9.875 15.875 7.000
MLC164 180078024 59,064.47 03/01/97 02/01/27 11.000 10.000 17.000 7.000
MLC164 180078792 151,785.53 03/01/97 02/01/27 9.750 8.750 15.750 6.250
MLC164 180083321 132,194.40 04/01/97 03/01/27 10.500 9.500 16.500 5.750
MLC164 180085094 166,302.69 04/01/97 03/01/27 8.625 8.625 14.625 5.000
MLC164 180091142 201,380.10 05/01/97 04/01/27 11.125 11.125 17.125 7.500
MLC164 180091902 613,305.13 05/01/97 04/01/27 9.375 9.375 15.375 5.750
MLC164 180097271 59,856.79 03/01/97 02/01/27 8.625 8.625 14.625 5.250
MLC164 180097404 83,666.74 05/01/97 04/01/27 10.500 9.500 16.500 5.750
MLC164 180098766 107,847.60 04/01/97 03/01/27 9.750 8.750 15.750 5.250
MLC164 180101446 102,388.70 03/01/97 02/01/27 10.575 10.575 16.575 7.200
MLC164 180101800 99,977.13 05/01/97 04/01/27 13.000 12.000 19.000 7.750
MLC164 180103236 169,939.38 06/01/97 05/01/27 11.000 10.000 17.000 7.500
MLC164 180105348 186,023.73 05/01/97 04/01/27 11.250 10.250 17.250 6.500
MLC164 180107039 109,845.94 05/01/97 04/01/27 9.500 9.500 15.500 5.750
MLC164 180110454 72,916.92 05/01/97 04/01/27 8.625 8.625 14.625 5.250
MLC164 180110991 70,133.19 05/01/97 04/01/27 9.675 9.675 15.675 6.750
MLC164 180118606 47,983.79 06/01/97 05/01/27 11.250 11.250 17.250 7.500
MLC164 180121121 105,000.00 06/01/97 05/01/27 11.625 10.625 17.625 6.000
MLC164 180123952 207,805.13 05/01/97 04/01/27 9.750 8.750 15.750 6.250
MLC164 180125148 95,595.27 05/01/97 04/01/27 11.625 10.625 17.625 7.250
MLC164 180125742 151,925.23 05/01/97 04/01/27 9.500 8.500 15.500 6.250
MLC164 180126203 121,550.00 06/01/97 05/01/27 12.500 11.500 18.500 7.500
MLC164 180127532 100,750.00 06/01/97 05/01/27 12.375 11.375 18.375 6.750
MLC164 180128027 92,126.45 04/01/97 03/01/27 9.125 9.125 15.125 5.500
MLC164 180128746 71,969.81 05/01/97 04/01/27 10.250 9.250 16.250 6.750
MLC164 180129223 159,925.35 06/01/97 05/01/27 9.750 8.750 15.750 6.500
MLC164 180130379 44,964.08 05/01/97 04/01/27 10.500 9.500 16.500 5.500
MLC164 180130809 152,953.73 05/01/97 04/01/27 11.750 10.750 17.750 7.500
MLC164 180130858 212,347.76 05/01/97 04/01/27 11.000 10.000 17.000 7.500
MLC164 180133464 53,435.54 05/01/97 04/01/27 12.250 11.250 18.250 8.500
MLC164 180134355 48,734.42 05/01/97 04/01/27 11.500 10.500 17.500 6.500
MLC164 180135204 219,870.11 05/01/97 04/01/27 8.625 8.625 14.625 5.000
MLC164 180135329 43,952.27 05/01/97 04/01/27 11.625 11.625 17.625 8.250
MLC164 180135535 99,156.12 05/01/97 04/01/27 10.000 9.000 16.000 5.500
MLC164 180135733 42,337.88 05/01/97 04/01/27 12.000 11.000 18.000 8.500
MLC164 180136764 193,100.00 06/01/97 05/01/27 10.000 9.000 16.000 6.750
MLC164 180138786 84,906.00 06/01/97 05/01/27 9.875 9.875 15.875 5.750
MLC164 180139693 84,967.12 05/01/97 04/01/27 10.625 10.625 16.625 6.750
MLC164 180140949 121,728.09 06/01/97 05/01/27 8.625 7.625 14.625 3.750
MLC164 180140964 81,414.91 06/01/97 05/01/27 10.125 9.125 16.125 5.000
MLC164 180142341 135,150.00 06/01/97 05/01/27 10.375 10.375 16.375 6.750
MLC164 180144784 47,920.20 05/01/97 04/01/27 8.375 7.375 14.375 4.750
MLC164 180145096 64,323.02 05/01/97 04/01/27 10.250 9.250 16.250 5.750
MLC164 180145146 62,873.62 06/01/97 05/01/27 10.250 9.250 16.250 5.750
MLC164 180146375 58,434.63 06/01/97 05/01/17 11.250 10.250 17.250 6.750
MLC164 180146425 61,200.00 06/01/97 05/01/27 9.500 8.500 15.500 4.500
MLC164 180147837 172,800.00 06/01/97 05/01/27 8.875 8.875 14.875 6.250
MLC164 180149346 95,811.91 05/01/97 04/01/27 10.500 9.500 16.500 6.750
MLC164 180149841 119,970.14 06/01/97 05/01/27 12.625 11.625 18.625 8.250
MLC164 180150138 169,095.94 05/01/97 04/01/27 11.500 10.500 17.500 7.750
MLC164 180150930 56,153.50 05/01/97 04/01/27 8.875 7.875 14.875 5.250
MLC164 180151359 240,500.00 06/01/97 05/01/27 10.125 10.125 16.125 6.500
MLC164 180151516 73,531.04 05/01/97 04/01/97 9.750 8.750 15.750 6.250
</TABLE>
<PAGE>
Page 19 6/24/97
ALLIANCE FUNDING COMPANY
A DIVISION OF SUPERIOR BANK FSB
SALE SCHEDULE A
1997-2 CLASS 2 - INITIAL POOL OF ADJUSTABLE RATE MORTGAGES - SETTLEMENT 6/25/97
<TABLE>
<CAPTION>
Principal
Zip Balance at
Sale ID Account Name Address City State Code Origination
- ------------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C>
MLC164 180151987 GROSSMAN YITZCHOK I 975 EAST 23RD STREET BROOKLYN NY 11210 499,000.00
MLC164 180154197 JACKSON-HEAD DEVONE 212 62ND STREET WASHINGTON DC 20019 68,000.00
MLC164 180154924 ROCCO GENNARO 122 W CATHERINE STREET CHAMBERSBURG PA 17201 50,210.00
MLC164 180155681 CARUSO ENRICO 95 DUNCAN STREET STATEN ISLAND NY 10304 147,500.00
MLC164 180156473 BRINSKY THOMAS S 113 CASTLEBROOK DRIVE VENETIA PA 15367 180,000.00
MLC164 180156820 JOHNSON DAVID 93-95 STUYVESANT AVENUE NEWARK NJ 07114 105,000.00
MLC164 180157075 BURNS PATRICK 8838 BROUS AVENUE PHILADELPHIA PA 19152 64,000.00
MLC164 180157612 ROLLE SYLVIA 10775 SOUTHWEST 224TH STRE MIAMI FL 33170 52,700.00
MLC164 180158883 COLQUITT RONALD 2732 N 45TH ST PHILADELPHIA PA 19131 34,450.00
MLC164 180160194 MOONEY WILLIAM M 3640 VILLANOVA COURT BETHLEHEM PA 18017 198,000.00
MLC164 180162273 MITCHELL MICHAEL 19 PINEHURST LANE BOCA RATON FL 33431 112,200.00
MLC164 180163180 JONES MILTON WAYNE 206 CHURCH AVE EPHRATA PA 17522 55,920.00
MLC164 180164444 SILBER ZALMAN 1570 57TH STREET BROOKLYN NY 11219 399,000.00
MLC164 180167520 BRUNO VICTOR II 127 ZOE STREET STATEN ISLAND NY 10305 180,000.00
MLC164 180167546 MCCLAREN JOANN 343 MAPLE TERRACE PITTSBURGH PA 15211 57,600.00
MLC164 180167819 SMITH CHRISTINE 3282 TIMOR TERRACE LITHONIA GA 30038 57,600.00
MLC164 180167934 SWETAVAGE JOSEPH J 225 37TH AVENUE NORTHEAST ST PETERSBURG FL 33704 46,500.00
MLC164 180168726 CROSBY EDNA I 115 PARK ST GREENSBURG PA 15601 55,200.00
MLC164 180168783 CRAWFORD RICHARD 5275 POUNDS DRIVE STONE MOUNTAIN GA 30083 133,450.00
MLC164 180169369 MOORE RUSSELL 1032 OLIVE STREET ELIZABETH NJ 07202 139,500.00
MLC164 180169898 VAZZANO FRANK II 14 STELLA ST TRUMBULL CT 06611 213,300.00
MLC164 180170052 IMBRO JOSEPH 32 HIGHLAND RD OXFORD CT 06478 111,350.00
MLC164 180173197 MCCANS ALAN L 8771 118 TH ST SEMINOLE FL 33772 76,500.00
MLC164 180173668 KRASLEY RICHARD 103 EVERGREEN COURT SAYLORSBURG PA 18353 172,000.00
MLC164 180173890 SPINDELL RONALD 540 LINE ROAD HAZLET NJ 07730 148,500.00
MLC164 180175457 MORELLS LISA B 1832 21 ST AVE N SAINT PETERSBURG FL 33713 50,150.00
MLC164 180176299 SAMMOND PATRICIA A 182 NORMANDY ROAD EDISON NJ 08820 104,000.00
MLC164 180176745 DIAZ NICHOLAS A 87-89 CHAMBERLAIN AVE PATERSON NJ 07502 93,500.00
MLC164 180178170 WALTERS VALERIE 1571 EAST 52ND STREET BROOKLYN NY 11212 234,000.00
MLC164 180180341 JACOBS ROBERTA J 513 JACKSON ST WILLIMANTIC CT 06226 72,000.00
MLC164 800187502 HAMZAH LEONA 3707 DARWIN AVENUE TAMPA FL 33603 46,750.00
--------------------------------------- -----------------
90 Sale Total 10,797,306.00
90 Total with Merrill Lynch 10,797,306.00
<CAPTION>
Initial Minimum Maximum
Cut-off Date First Mort- Mort- Mort-
Principal Payment Maturity gage gage gage Gross
Sale ID Account Balance Date Date Rate Rate Rate Margin
- ---------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C>
MLC164 180151987 499,000.00 06/01/97 05/01/27 9.250 8.250 15.250 6.000
MLC164 180154197 68,000.00 06/01/97 05/01/27 12.375 12.375 18.375 8.500
MLC164 180154924 50,210.00 06/01/97 05/01/27 10.000 9.000 16.000 6.750
MLC164 180155681 147,408.32 06/01/97 05/01/27 8.375 8.375 14.375 4.500
MLC164 180156473 180,000.00 06/01/97 05/01/27 11.750 11.750 17.750 7.500
MLC164 180156820 105,000.00 06/01/97 05/01/27 9.125 9.125 15.125 6.000
MLC164 180157075 64,000.00 06/01/97 05/01/27 11.625 10.625 17.625 6.000
MLC164 180157612 52,680.69 05/01/97 04/01/27 10.875 9.875 16.875 6.250
MLC164 180158883 34,420.20 05/01/97 04/01/27 10.125 10.125 16.125 6.750
MLC164 180160194 198,000.00 06/01/97 05/01/27 8.875 8.875 14.875 5.000
MLC164 180162273 112,159.99 05/01/97 04/01/27 11.000 10.000 17.000 6.500
MLC164 180163180 55,811.56 05/01/97 04/01/27 9.625 8.625 15.625 6.000
MLC164 180164444 399,000.00 06/01/97 05/01/27 10.000 9.000 16.000 5.500
MLC164 180167520 180,000.00 06/01/97 05/01/27 9.500 8.500 15.500 4.750
MLC164 180167546 57,577.11 06/01/97 05/01/27 10.500 9.500 16.500 5.250
MLC164 180167819 57,600.00 06/01/97 05/01/27 11.875 11.875 17.875 8.250
MLC164 180167934 46,471.10 06/01/97 05/01/27 8.375 7.375 14.375 3.500
MLC164 180168726 55,200.00 06/01/97 05/01/27 10.250 9.250 16.250 5.250
MLC164 180168783 133,450.00 06/01/97 05/01/27 10.750 9.750 16.750 5.750
MLC164 180169369 139,500.00 06/01/97 05/01/27 9.875 9.875 15.875 5.750
MLC164 180169898 213,300.00 06/01/97 05/01/27 10.875 9.875 16.875 6.000
MLC164 180170052 111,350.00 06/01/97 05/01/27 10.375 10.375 16.375 7.500
MLC164 180173197 76,467.22 06/01/97 05/01/27 10.150 9.150 16.150 5.750
MLC164 180173668 171,959.55 06/01/97 05/01/27 12.875 11.875 18.875 7.500
MLC164 180173890 148,500.00 06/01/97 05/01/27 10.750 9.750 16.750 5.750
MLC164 180175457 50,150.00 06/01/97 05/01/27 11.000 10.000 17.000 6.500
MLC164 180176299 104,000.00 06/01/97 05/01/27 12.500 11.500 18.500 6.750
MLC164 180176745 93,463.83 06/01/97 05/01/27 10.625 10.625 16.625 6.500
MLC164 180178170 233,911.90 06/01/97 05/01/27 10.750 9.750 16.750 5.750
MLC164 180180341 72,000.00 06/01/97 05/01/27 10.375 9.375 16.375 5.000
MLC164 800187502 46,727.00 06/01/97 05/01/27 9.500 8.500 15.500 4.500
------------- --------------------------------
10,792,317.53 10.287 9.658 16.287 6.225
10,792,317.53 10.287 9.658 16.287 6.225
</TABLE>
<PAGE>
Page 20 6/24/97
ALLIANCE FUNDING COMPANY
A DIVISION OF SUPERIOR BANK FSB
SALE SCHEDULE A
1997-2 CLASS 2 - INITIAL POOL OF ADJUSTABLE RATE MORTGAGES - SETTLEMENT 6/25/97
<TABLE>
<CAPTION>
Principal
Zip Balance at
Sale ID Account Name Address City State Code Origination
- ------------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C>
CPIAR 25908 KOMAREK RICHARD K 965 COLLINGWOOD NAPERVILLE IL 60540 98,100.00
CPIAR 28159 COLEMAN VONCEIL Y 1842 GOLFVIEW DR BARTLETT IL 60103 114,400.00
CPIAR 28282 FIORESI PETER J 1832 GOLFVIEW DR VILLA OLIVI IL 60103 117,600.00
CPIAR 31963 PETERSON SANDRA 16844 AVALON AVE SOUTH HOLLA IL 60473 85,500.00
CPIAR 47142 HOWELL JANET L 3 PINE TREE COURT ELMHURST IL 60126 120,000.00
CPIAR 48868 MC DONNELL ALICE M 917 S BRAINARD AVE LA GRANGE IL 60525 70,000.00
CPIAR 50682 SEFCIK SALLY A 5847 S BLACKSTONE #210 CHICAGO IL 60637 23,200.00
CPIAR 51086 BAKER WILLIAM N 533 N COUNTY LINE RD HINSDALE IL 60521 207,000.00
CPIAR 51516 CONNERY MICHAEL J 205 N MAYFLOWER RD LAKE FOREST IL 60045 353,000.00
CPIAR 53116 FREGEAU WAYNE E 622 NEWPORT AVE WESTMONT IL 60559 148,800.00
CPIAR 54791 SERFLING JOHN L 464 RAINTREE CT GLEN ELLYN IL 60137 49,500.00
CPIAR 54809 ZILINSKY PATRICIA R 6508 BARCLAY CT DOWNERS GRO IL 60516 105,000.00
CPIAR 55475 KRIPS JAMES R SR 5620 W 143RD STREET MIDLOTHIAN IL 60445 95,000.00
CPIAR 55566 ZACCARI CAROL 2136 PEPPERWOOD LN GLENDALE HE IL 60139 59,000.00
CPIAR 55673 BEUSSE JAMES W 329 N BLACKHAWK DR WESTMONT IL 60559 160,000.00
CPIAR 55798 CURIN RICHARD 4564 WOLF RD WESTERN SPR IL 60558 150,000.00
CPIAR 55905 TALLEY JOHN S SR 1408 S SCOVILLE AVE BERWYN IL 60402 103,000.00
CPIAR 55954 THOM ROBERT K 3107 S CLARENCE AVE BERWYN IL 60402 99,000.00
CPIAR 55996 MILEWSKI EDWARD R 353 E QUINCY ST RIVERSIDE IL 60546 56,500.00
CPIAR 56010 MALKUSAK FRIEDA 112 1/2 LINCOLN AVE RIVERSIDE IL 60546 47,200.00
CPIAR 56242 WOOD KINGSLEY JR 1660 N LASALLE ST CHICAGO IL 60614 42,300.00
CPIAR 56598 HENNING CLYDE L 249 EDGEBROOK DR SANDWICH IL 60548 40,000.00
CPIAR 56978 BEWLEY GREGORY 9243 W 183RD STREET TINLEY PARK IL 60477 80,000.00
CPIAR 57059 HOSPODAR LINDA M 330 SPRINGLAKE LANE AURORA IL 60504 54,500.00
CPIAR 57067 SCHOPPE JOHN M 34 HAMPTON ROAD MONTGOMERY IL 60538 62,300.00
CPIAR 57075 DIEFENBACH BETH A 1313 REBECCA ROAD LOMBARD IL 60148 43,500.00
CPIAR 57315 OLSON SCOTT H 28 W 673 PERKINS COURT NAPERVILLE IL 60564 220,000.00
CPIAR 57349 CROWELL SCOT M 8 E CUSTER LEMONT IL 60439 77,000.00
CPIAR 57489 FLOWERS GREGORY M 219 W THIRD STREET SANDWICH IL 60548 80,800.00
CPIAR 58115 WINTER THERESA L 809 N BRAINARD LAGRANGE PA IL 60525 156,000.00
CPIAR 58545 MICHAELS ERIC M 2717 N LEHMANN CT CHICAGO IL 60614 299,000.00
CPIAR 58867 DURKIN LARRY R 4 SIOUX COURT JUSTICE IL 60458 55,000.00
CPIAR 59188 GIGNAC GEORGE F 5940 BELMONT DOWNERS GRO IL 60516 73,000.00
CPIAR 59469 WITT ROBERT H 31 CYPRESS SQUARE ELGIN IL 60546 70,000.00
CPIAR 59964 SEMENEK NANCY A 1826 PRENTISS DRIVE DOWNERS GRO IL 60516 76,500.00
CPIAR 59972 LANE ALLAN 4380 HAMPTON AVENUE WESTERN SPR IL 60558 100,000.00
CPIAR 60384 FELKER ROBERT F 9619 MAIN STREET HEBRON IL 60034 59,500.00
CPIAR 60574 WEITL JAMES H 3N877 BITTERSWEET ROAD SAINT CHARL IL 60175 29,000.00
CPIAR 60962 FLANAGAN THOMAS 7544 160TH PLACE TINLEY PARK IL 60477 90,000.00
CPIAR 61036 FUNG LANCE 2110 S PRAIRIE CHICAGO IL 60616 100,000.00
CPIAR 61259 MONTVILAS JANE A 548 73RD STREET DOWNERS GRO IL 60516 60,800.00
CPIAR 61325 MODZELEWSKI JOHN F 1152 N LASALLE STREET CHICAGO IL 60610 306,000.00
CPIAR 61382 SALIK PETER 4548 HOWARD AVENUE WESTERN SPR IL 60558 133,000.00
CPIAR 61978 MILEWSKI EDWARD R 2512 BURR OAK NORTH RIVER IL 60546 103,000.00
CPIAR 62166 BOKENKAMP KURT M 5401 W KIMBALL PLACE OAKLAWN IL 60453 119,250.00
CPIAR 62224 GRAGER EDWARD 7529 W 58TH PLACE SUMMIT IL 60501 94,000.00
CPIAR 62638 BEDNAR WILLIAM 940 PATRIOT HOFFMAN EST IL 60193 134,500.00
CPIAR 62661 WOOD DENNIS E 5243 W 155TH STREET OAK FOREST IL 60452 115,000.00
CPIAR 62836 SHILTZ JAMES C 2482 WHITEHALL COURT AURORA IL 60504 225,000.00
CPIAR 63032 OCASIO JANICE M 8148 S RUTHERFORD AVE BURBANK IL 60459 38,000.00
CPIAR 64659 SMITHEY DONNA 2448 W COYLE CHICAGO IL 60645 184,000.00
CPIAR 66191 DRNEK JOAN E 505 REDONDO DRIVE DOWNERS GRO IL 60516 60,000.00
CPIAR 66571 FULLER DONNA RAE 2950 E 231ST STREET CHICAGO HEI IL 60411 135,000.00
CPIAR 67280 CONNER CHARLENE K 6421 ASHFORD COURT LISLE IL 60532 65,000.00
CPIAR 68668 WONSOWSKI EDWARD H RR N 40TH ROAD SERENA IL 60549 57,400.00
CPIAR 77644 BALAGTAS RAUL 1907 ABERDEEN STREET CHICAGO HEI IL 60411 37,500.00
CPIAR 80663 MC MICHAEL RUTH 1173 CHESAPEAKE LANE PALATINE IL 60067 98,000.00
CPIAR 81570 BAHENA RAUL 939 SAUGATUCK TRAIL VERNON HILL IL 60061 255,000.00
CPIAR 82040 WALLS LUCINDA 1335 N MAYFIELD AVENUE CHICAGO IL 60651 71,000.00
<CAPTION>
Initial Minimum Maximum
Cut-off Date First Mort- Mort- Mort-
Principal Payment Maturity gage gage gage Gross
Sale ID Account Balance Date Date Rate Rate Rate Margin
- ---------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C>
CPIAR 25908 81,081.88 06/01/85 05/01/15 8.875 0.000 13.875 2.750
CPIAR 28159 98,190.41 09/01/85 08/01/15 8.875 0.000 13.875 2.750
CPIAR 28282 101,012.29 09/01/85 08/01/15 8.875 0.000 13.875 2.750
CPIAR 31963 78,822.30 08/01/89 07/01/19 9.250 0.000 15.250 2.750
CPIAR 47142 110,133.99 07/01/90 06/01/20 8.875 0.000 14.875 2.875
CPIAR 48868 63,741.32 05/01/91 04/01/21 7.750 0.000 13.750 2.875
CPIAR 50682 21,704.28 08/01/91 07/01/21 8.500 0.000 14.500 2.875
CPIAR 51086 193,657.92 12/01/91 11/01/21 6.625 0.000 12.625 2.875
CPIAR 51516 330,649.91 01/01/92 12/01/21 6.500 0.000 12.500 2.875
CPIAR 53116 139,593.88 07/01/92 06/01/22 7.750 0.000 13.750 2.875
CPIAR 54791 39,863.33 10/01/92 09/01/22 6.625 0.000 12.625 2.750
CPIAR 54809 99,868.25 10/01/92 09/01/22 7.125 0.000 13.125 2.750
CPIAR 55475 23,069.95 11/01/92 10/01/07 6.750 0.000 12.750 1.875
CPIAR 55566 47,052.53 12/01/92 11/01/22 6.750 0.000 12.750 2.875
CPIAR 55673 151,766.54 01/01/93 12/01/22 4.875 0.000 10.875 2.750
CPIAR 55798 142,151.13 12/01/92 11/01/22 5.125 0.000 11.125 2.750
CPIAR 55905 97,874.45 02/01/93 01/01/23 6.750 0.000 12.750 2.875
CPIAR 55954 94,187.16 01/01/93 12/01/22 6.750 0.000 12.750 2.750
CPIAR 55996 53,671.54 02/01/93 01/01/23 5.000 0.000 11.000 2.750
CPIAR 56010 44,641.07 01/01/93 12/01/22 6.750 0.000 12.750 2.750
CPIAR 56242 40,143.54 02/01/93 01/01/23 6.250 0.000 12.250 2.875
CPIAR 56598 37,926.43 01/01/93 12/01/22 4.875 0.000 10.875 2.750
CPIAR 56978 75,969.26 03/01/93 02/01/23 6.250 0.000 12.250 2.750
CPIAR 57059 48,909.19 03/01/93 02/01/23 6.625 0.000 12.625 2.750
CPIAR 57067 59,272.86 03/01/93 02/01/23 5.125 0.000 11.125 2.750
CPIAR 57075 41,419.92 03/01/93 02/01/23 6.750 0.000 12.750 2.875
CPIAR 57315 212,078.62 03/01/94 02/01/24 7.000 0.000 13.000 2.750
CPIAR 57349 73,516.31 04/01/93 03/01/23 7.000 0.000 13.000 2.750
CPIAR 57489 77,067.06 04/01/93 03/01/23 7.250 0.000 13.250 2.875
CPIAR 58115 148,723.28 07/01/93 06/01/23 6.250 0.000 12.250 2.875
CPIAR 58545 285,038.16 07/01/93 06/01/23 6.500 0.000 12.500 2.750
CPIAR 58867 50,368.95 07/01/93 06/01/23 6.375 0.000 12.375 2.875
CPIAR 59188 69,603.10 09/01/93 08/01/23 6.250 0.000 12.250 2.875
CPIAR 59469 66,758.05 08/01/93 07/01/23 6.375 0.000 12.375 2.875
CPIAR 59964 72,721.97 10/01/93 09/01/23 6.500 0.000 12.500 2.875
CPIAR 59972 95,783.86 10/01/93 09/01/23 6.500 0.000 12.500 2.875
CPIAR 60384 56,971.17 12/01/93 11/01/23 6.250 0.000 12.250 2.875
CPIAR 60574 27,689.95 11/01/93 10/01/23 6.000 0.000 12.000 2.875
CPIAR 60962 86,142.05 01/01/94 12/01/23 6.250 0.000 12.250 2.875
CPIAR 61036 84,546.78 02/01/94 01/01/09 6.250 0.000 12.250 2.750
CPIAR 61259 58,423.08 02/01/94 01/01/24 6.500 0.000 12.500 2.750
CPIAR 61325 293,285.09 01/01/94 12/01/23 6.250 0.000 12.250 2.875
CPIAR 61382 124,598.51 01/01/94 12/01/23 6.250 0.000 12.250 2.875
CPIAR 61978 99,249.70 03/01/94 02/01/24 5.250 0.000 11.250 2.750
CPIAR 62166 114,021.29 02/01/94 01/01/24 6.250 0.000 12.250 2.750
CPIAR 62224 90,702.94 04/01/94 03/01/24 6.875 0.000 12.875 2.750
CPIAR 62638 128,655.19 04/01/94 03/01/24 4.500 0.000 10.500 2.875
CPIAR 62661 110,357.09 03/01/94 02/01/24 6.250 0.000 12.250 2.875
CPIAR 62836 217,096.72 03/01/94 02/01/24 7.000 0.000 13.000 2.875
CPIAR 63032 36,667.64 05/01/94 04/01/24 6.750 0.000 12.750 2.750
CPIAR 64659 174,101.76 05/01/94 04/01/24 6.375 0.000 12.375 2.750
CPIAR 66191 58,200.66 05/01/94 04/01/24 7.625 0.000 13.625 2.750
CPIAR 66571 130,757.46 08/01/94 07/01/24 5.375 0.000 11.375 2.750
CPIAR 67280 62,748.59 06/01/94 05/01/24 6.750 0.000 12.750 2.875
CPIAR 68668 55,292.16 07/01/94 06/01/24 7.625 0.000 13.625 2.750
CPIAR 77644 36,559.72 11/01/94 10/01/24 6.375 0.000 12.375 2.750
CPIAR 80663 95,469.79 11/01/94 10/01/24 6.250 0.000 12.250 2.750
CPIAR 81570 237,358.14 11/01/94 10/01/24 7.125 0.000 13.125 2.400
CPIAR 82040 69,435.12 01/01/95 12/01/24 7.125 0.000 13.125 2.750
</TABLE>
<PAGE>
Page 21 6/24/97
ALLIANCE FUNDING COMPANY
A DIVISION OF SUPERIOR BANK FSB
SALE SCHEDULE A
1997-2 CLASS 2 - INITIAL POOL OF ADJUSTABLE RATE MORTGAGES - SETTLEMENT 6/25/97
<TABLE>
<CAPTION>
Principal
Zip Balance at
Sale ID Account Name Address City State Code Origination
- ------------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C>
CPIAR 82636 EBERLEN SANDRA J 1755 EVERGREEN LANE PARK RIDGE IL 60068 115,000.00
CPIAR 88526 POLLARD THOMAS E 169 E LONGFELLOW DRIVE WHEATON IL 60187 155,000.00
CPIAR 500041 FENN JANICE 319 CHARLES ST NAPERVILLE IL 60540 140,850.00
CPIAR 500058 RABATIN A J 447 SPRING CRESS CT WEST CHICAG IL 60185 287,430.00
CPIAR 500082 ORTIZ GILBERT J 3643 W SCOTT DRIVE ALSIP IL 60658 86,800.00
CPIAR 500124 BANIA HENRY 722 GRACELAND AVE DES PLAINES IL 60016 77,200.00
CPIAR 500413 HARRISON MICHAEL L 440 E MONTROSE AVE WOODDALE IL 60191 115,100.00
CPIAR 500454 SMITH ROBERT D 2216 N CLEVELAND AVE CHICAGO IL 60614 350,000.00
CPIAR 500462 JARZAB BERNADINE 1061 RIDGEFIELD CIRCLE CAROL STREA IL 60188 30,000.00
CPIAR 500496 KLINGBEIL THOMAS H 620 E BENTON AVE NAPERVILLE IL 60540 59,000.00
CPIAR 500561 COONEY ROBERT J 3200 RAYMOND AVE BROOKFIELD IL 60513 107,000.00
CPIAR 500660 RYAN PAUL J 1000 CREEKSIDE CIRCLE NAPERVILLE IL 60563 178,000.00
CPIAR 500819 DELWO LEROY W 1772 GLOUCESTER CT WHEATON IL 60187 70,000.00
CPIAR 500967 DORSEY STEVEN T 245 LARKDALE ROW WAUCONDA IL 60084 120,000.00
CPIAR 500983 KONOPKA THOMAS 311 E NAPERVILLE RD WESTMONT IL 60559 136,000.00
CPIAR 501015 LOEFFLER JOSEPH E 78 GLENDALE ST WHEELING IL 60090 112,000.00
CPIAR 501023 KOZLOWSKI BRUCE A 15433 W 163RD STREET LOCKPORT IL 60441 210,000.00
CPIAR 501056 ROYHL JOHN C 21W040 MONTICELLO RD LOMBARD IL 60148 129,600.00
CPIAR 501098 APOLLON NICK 6452 COACH HOUSE RD LISLE IL 60532 139,200.00
CPIAR 501213 WALLACE HARRISON W JR 157 S KAINER AVE BARRINGTON IL 60010 100,000.00
CPIAR 501304 LYONS JOHN K 345 W FULLERTON PKWY CHICAGO IL 60614 203,000.00
CPIAR 501411 ZEILENGA KATHLEEN A 8125 W 174TH PLACE TINLEY PARK IL 60477 105,000.00
CPIAR 501460 STRASS KENNETH F JR 388 N WALNUT LANE SCHAUMBURG IL 60173 82,500.00
CPIAR 501536 WITUCKI THOMAS E 2093 WILDWOOD LANE HANOVER PAR IL 60103 109,000.00
CPIAR 501577 MORRELL EDWARD L 2324 CLOVER LANE NORTHFIELD IL 60093 400,000.00
CPIAR 501650 MARTIS PATRICIA M 20135 WOODALE DR LYNWOOD IL 60411 44,000.00
CPIAR 501718 PEREZ RICHARD A 9221 BEDFORD LANE ORLAND PARK IL 60462 139,200.00
CPIAR 501874 WALSH MICHAEL 1215 W WELLINGTON CHICAGO IL 60657 302,400.00
CPIAR 501973 LUCIBELLO LANCE A 123 COUNTRY CLUB DR BLOOMINGDAL IL 60108 125,000.00
CPIAR 502252 NORBY RICHARD A 2924 W NORTH SHORE AVE CHICAGO IL 60645 138,000.00
CPIAR 502286 STAMPER FORREST ALAN 1S721 BLAKEWOOD CT WINFIELD IL 60190 381,900.00
CPIAR 502351 FRIEDMAN MARK 345 W FULLERTON PARKWAY CHICAGO IL 60614 151,300.00
CPIAR 502617 HOLSTEAD GARRETT R 921 CREEKSIDE COURT NAPERVILLE IL 60563 160,000.00
CPIAR 502666 BOYD ROBERT J 1079 CAMILLIA PLACE FOX RIVER G IL 60021 183,100.00
CPIAR 502682 WOODS JOSEPH 6151 N FOREST GLEN AVE CHICAGO IL 60646 170,000.00
CPIAR 502716 SALCEDA JOHN F 220 POPLAR ST WINNETKA IL 60093 213,750.00
CPIAR 502773 COE ROBERT A 1125 LAKE COOK RD NORTHBROOK IL 60062 90,000.00
CPIAR 502815 ROCHE CHARLES T 1276 LEXINGTON CHICAGO IL 60607 175,000.00
CPIAR 502898 MITROVICH NICHOLAS 440 E MONTROSE AVE WOODDALE IL 60191 102,300.00
CPIAR 502930 SCHABER STEPHEN J 3840 PEARTREE DR LAKE IN THE IL 60102 143,000.00
CPIAR 502997 COHEN BARRY P 1108 N WHITMAN PLACE VERNON HILL IL 60061 148,000.00
CPIAR 503144 EICK STEPHEN G 1221 CALICO AVENUE NAPERVILLE IL 60564 97,600.00
CPIAR 503185 WILSON JAMES P 5911 FOX LAKE RD MCHENRY IL 60050 70,500.00
CPIAR 503235 BURKE KEVIN M 5738 W LELAND AVENUE CHICAGO IL 60634 60,000.00
CPIAR 503292 CARAVELLO DANIEL A 190 AMBRIA DR MUNDELEIN IL 60060 236,000.00
CPIAR 503458 GUYNN TODD P 711 S ASHLAND AVE CHICAGO IL 60607 140,000.00
CPIAR 503466 OMALLEY CHARLES A 4000 MADISON AVE BROOKFIELD IL 60513 76,500.00
CPIAR 503573 TREMMEL THOMAS J 5445 N SHERIDAN RD CHICAGO IL 60640 52,200.00
CPIAR 503607 JANG HOSANG 1280 READING COURT WHEATON IL 60187 95,200.00
CPIAR 504100 LINSENMEYER TIM 328 W WASHINGTON ST WEST CHICAG IL 60185 102,000.00
CPIAR 504118 MILLS FREDERICK L III 1800 W ROSCOE ST CHICGO IL 60657 118,300.00
CPIAR 504167 GANELLIN BEATRICE 2226 CHURCHILL LANE HIGHLAND PA IL 60035 500,000.00
CPIAR 504183 RODRIGUEZ ROBERT 1820 STERLING CT ST CHARLES IL 60174 209,950.00
CPIAR 504209 JAMES TERRIE Y 5237 W POTOMAC AVE CHICAGO IL 60651 104,000.00
CPIAR 504308 FABRIGAS JANET L 1268 TENNYSON LN NAPERVILLE IL 60540 98,300.00
CPIAR 504365 BONET CARLOS M 1945 WINDMILL DR HANOVER PAR IL 60103 101,000.00
CPIAR 504431 KALAL ALICE 1027 ARBOR COURT MOUNT PROSP IL 60056 143,000.00
CPIAR 504456 KALAL ALICE 1005 ARBOR COURT MOUNT PROSP IL 60056 143,000.00
CPIAR 504464 KALAL ALICE 1001 ARBOR COURT MOUNT PROSP IL 60056 160,000.00
<CAPTION>
Initial Minimum Maximum
Cut-off Date First Mort- Mort- Mort-
Principal Payment Maturity gage gage gage Gross
Sale ID Account Balance Date Date Rate Rate Rate Margin
- ---------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C>
CPIAR 82636 112,197.94 12/01/94 11/01/24 6.500 0.000 12.500 2.750
CPIAR 88526 152,552.84 07/01/95 06/01/25 8.500 0.000 14.500 2.750
CPIAR 500041 133,063.78 07/01/92 06/01/22 6.000 0.000 12.000 2.750
CPIAR 500058 273,420.21 06/01/92 05/01/22 7.750 0.000 13.750 2.750
CPIAR 500082 82,156.40 08/01/92 07/01/22 5.875 0.000 11.875 2.750
CPIAR 500124 73,541.88 08/01/92 07/01/22 7.625 0.000 13.625 2.750
CPIAR 500413 92,151.13 09/01/92 08/01/22 5.750 0.000 11.750 2.750
CPIAR 500454 331,652.70 09/01/92 08/01/22 5.750 0.000 11.750 2.750
CPIAR 500462 28,386.10 09/01/92 08/01/22 5.625 0.000 11.625 2.750
CPIAR 500496 46,297.94 09/01/92 08/01/22 5.500 0.000 11.500 2.750
CPIAR 500561 101,246.27 12/01/92 11/01/22 6.500 0.000 12.500 2.750
CPIAR 500660 161,052.13 10/01/92 09/01/22 5.500 0.000 11.500 2.750
CPIAR 500819 65,747.34 11/01/92 10/01/22 6.500 0.000 12.500 2.750
CPIAR 500967 113,600.96 11/01/92 10/01/22 5.250 0.000 11.250 2.750
CPIAR 500983 128,924.84 01/01/93 12/01/22 5.000 0.000 11.000 2.750
CPIAR 501015 106,142.81 11/01/92 10/01/22 5.000 0.000 11.000 2.750
CPIAR 501023 199,034.04 11/01/92 10/01/22 5.000 0.000 11.000 2.750
CPIAR 501056 122,662.73 12/01/92 11/01/22 5.000 0.000 11.000 2.750
CPIAR 501098 132,639.43 02/01/93 01/01/23 6.875 0.000 12.875 2.750
CPIAR 501213 89,332.69 12/01/92 11/01/22 5.000 0.000 11.000 2.750
CPIAR 501304 193,212.10 12/01/92 11/01/22 7.000 0.000 13.000 2.750
CPIAR 501411 99,425.40 12/01/92 11/01/22 6.250 0.000 12.250 2.750
CPIAR 501460 52,347.73 02/01/93 01/01/23 5.250 0.000 11.250 2.750
CPIAR 501536 103,238.01 12/01/92 11/01/22 4.875 0.000 10.875 2.750
CPIAR 501577 379,416.30 01/01/93 12/01/22 4.875 0.000 10.875 2.750
CPIAR 501650 41,715.39 01/01/93 12/01/22 4.875 0.000 10.875 2.750
CPIAR 501718 112,031.42 01/01/93 12/01/07 5.000 0.000 11.000 2.750
CPIAR 501874 287,207.38 02/01/93 01/01/23 6.375 0.000 12.375 2.750
CPIAR 501973 118,529.78 01/01/93 12/01/22 6.375 0.000 12.375 2.750
CPIAR 502252 131,337.75 03/01/93 02/01/23 5.250 0.000 11.250 2.750
CPIAR 502286 345,225.39 04/01/93 03/01/23 7.000 0.000 13.000 2.750
CPIAR 502351 144,191.79 01/01/93 12/01/22 7.000 0.000 13.000 2.750
CPIAR 502617 152,324.85 03/01/93 02/01/23 5.375 0.000 11.375 2.750
CPIAR 502666 174,631.41 01/01/93 12/01/22 7.125 0.000 13.125 2.750
CPIAR 502682 161,700.23 02/01/93 01/01/23 5.500 0.000 11.500 2.750
CPIAR 502716 199,527.96 02/01/93 01/01/23 5.500 0.000 11.500 2.750
CPIAR 502773 85,752.00 04/01/93 03/01/23 5.500 0.000 11.500 2.750
CPIAR 502815 66,074.35 04/01/93 03/01/23 5.375 0.000 11.375 2.750
CPIAR 502898 97,771.31 03/01/93 02/01/23 7.250 0.000 13.250 2.750
CPIAR 502930 135,763.21 02/01/93 01/01/23 5.625 0.000 11.625 2.750
CPIAR 502997 140,964.90 05/01/93 04/01/23 5.125 0.000 11.125 2.750
CPIAR 503144 92,267.85 03/01/93 02/01/23 5.500 0.000 11.500 2.750
CPIAR 503185 67,428.59 03/01/93 02/01/23 7.375 0.000 13.375 2.750
CPIAR 503235 57,394.52 05/01/93 04/01/23 7.250 0.000 13.250 2.750
CPIAR 503292 225,605.81 07/01/93 06/01/23 6.625 0.000 12.625 2.750
CPIAR 503458 133,290.28 05/01/93 04/01/23 6.500 0.000 12.500 2.750
CPIAR 503466 72,868.48 04/01/93 03/01/23 6.750 0.000 12.750 2.750
CPIAR 503573 49,714.68 04/01/93 03/01/23 6.750 0.000 12.750 2.750
CPIAR 503607 90,998.95 06/01/93 05/01/23 5.125 0.000 11.125 2.750
CPIAR 504100 97,184.54 07/01/93 06/01/23 6.500 0.000 12.500 2.750
CPIAR 504118 111,108.00 06/01/93 05/01/23 6.125 0.000 12.125 2.750
CPIAR 504167 477,260.07 06/01/93 05/01/23 6.875 0.000 12.875 2.750
CPIAR 504183 196,083.56 05/01/93 04/01/23 5.125 0.000 11.125 2.750
CPIAR 504209 99,140.03 06/01/93 05/01/23 5.125 0.000 11.125 2.750
CPIAR 504308 93,635.59 06/01/93 05/01/23 6.500 0.000 12.500 2.750
CPIAR 504365 96,687.88 07/01/93 06/01/23 5.000 0.000 11.000 2.750
CPIAR 504431 136,823.78 08/01/93 07/01/23 6.625 0.000 12.625 2.750
CPIAR 504456 136,823.78 08/01/93 07/01/23 6.625 0.000 12.625 2.750
CPIAR 504464 153,089.62 08/01/93 07/01/23 6.625 0.000 12.625 2.750
</TABLE>
<PAGE>
Page 22 6/24/97
ALLIANCE FUNDING COMPANY
A DIVISION OF SUPERIOR BANK FSB
SALE SCHEDULE A
1997-2 CLASS 2 - INITIAL POOL OF ADJUSTABLE RATE MORTGAGES - SETTLEMENT 6/25/97
<TABLE>
<CAPTION>
Principal
Zip Balance at
Sale ID Account Name Address City State Code Origination
- ------------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C>
CPIAR 504522 MUELLEMANN JOHN E 122 E MAPLE AVENUE MUNDELEIN IL 60060 112,000.00
CPIAR 504712 MORAN LISA N 1206 CAROL LANE GLENCOE IL 60022 228,000.00
CPIAR 504720 CARROLL RONALD W 318 N MADISON STREET HINSDALE IL 60521 277,000.00
CPIAR 504803 ALOMAR ROSANNE 630 MESA DRIVE HOFFMAN EST IL 60194 19,000.00
CPIAR 504860 MARKIEWICZ PHILIP A 15 PHILIPPI CREEK DRI ELGIN IL 60120 125,000.00
CPIAR 504878 MARKIEWICZ PHILIP A 1 PHILLIPPI CREEK DR ELGIN IL 60120 125,000.00
CPIAR 505123 TAYLOR LISA RENEE 3413 S INDIANA STREET CHICAGO IL 60616 105,200.00
CPIAR 505214 HULKA STEVEN A 26W308 COOLEY AVENUE WINFIELD IL 60190 112,950.00
CPIAR 505222 BAKER BENJAMIN MARK 208 E WASHINGTON MOMENCE IL 60954 58,000.00
CPIAR 505297 KRUPNICK ASHER 3103 W ARTHUR AVENUE CHICAGO IL 60645 88,000.00
CPIAR 505305 GASS JAMES E 45 N CARIBOU DRIVE HAINESVILLE IL 60030 153,300.00
CPIAR 505412 RATTRAY ATLEY G 835 DODGE AVENUE EVANSTON IL 60202 98,400.00
CPIAR 505446 GREEN LEE M JR 11663 S LOWE AVE CHICAGO IL 60628 65,200.00
CPIAR 505511 MURPHY THOMAS J 304 W WILLOW STREET CHICAGO IL 60614 175,000.00
CPIAR 505545 CINFIO DOMINIC C 1215 SANTA ROSA AVE WHEATON IL 60187 145,000.00
CPIAR 505560 NIELSEN BRIAN L 677 BRANTWOOD AVENUE ELK GROVE V IL 60007 122,800.00
CPIAR 505727 OBRECHT KENNETH W 1122 N CHERRY STREET WHEATON IL 60187 114,400.00
CPIAR 505743 SCHMIDT FRANKLIN K 3940 S FOREST AVENUE DOWNERS GRO IL 60515 124,000.00
CPIAR 506048 MINTER SHARON M 1400 HINMAN AVENUE EVANSTON IL 60201 70,700.00
CPIAR 506071 GALUK CONRAD P 769 WHITE PINE CIRCLE LAKE IN THE IL 60102 93,300.00
CPIAR 506154 HRUSTEK ANTHONY 297 SHEFFIELD DRIVE SCHAUMBURG IL 60193 67,000.00
CPIAR 506295 STOCKER JOHN J 3830 N KENMORE STREET CHICAGO IL 60613 285,300.00
CPIAR 506345 MAZZUCCHELLI MARVIN J 1622 W ALTGELD STREET CHICAGO IL 60614 172,000.00
CPIAR 506386 CURYLO MICHAEL A 2828 N BURLING STREET CHICAGO IL 60657 73,000.00
CPIAR 506527 PALM LINDA 512 PENNY LANE CRYSTAL LAK IL 60014 95,900.00
CPIAR 506618 KOVILPARAMBI ANTONY X 5125 W 113TH PLACE ALSIP IL 60452 120,750.00
CPIAR 506717 GARCIA DAGOBERTO J 230 E ONTARIO STREET CHICAGO IL 60611 75,500.00
CPIAR 506725 NICCOLAI LYNN B 90 S SIXTH AVENUE LA GRANGE IL 60525 57,000.00
CPIAR 506733 MUTH STEVEN A 7929 GLEN LANE DARIEN IL 60561 168,000.00
CPIAR 506766 OLLIGES MARTIN 1202 POMEROY COURT ST.CHARLES IL 60174 106,425.00
CPIAR 506816 GRVELES DENNIS J 332 S EDSON AVENUE LOMBARD IL 60148 89,000.00
CPIAR 506923 DOMINGUEZ CLETO 4424 W THOMAS STREET CHICAGO IL 60651 44,000.00
CPIAR 507046 MASCHEK LINDA J 1250 N DEARBORN PARKWAY CHICAGO IL 60610 105,000.00
CPIAR 507293 REMERS FRED W 527 HILLCREST TERRACE ROUND LAKE IL 60073 74,000.00
CPIAR 507483 WODRICH HELEN W 916 W WOLFRAM STREET CHICAGO IL 60657 95,900.00
CPIAR 507566 FECAROTTA GARY A 120 WEST ROAD LOMBARD IL 60148 72,000.00
CPIAR 507624 TASSONE BRUNO F 12323 FOREST GLEN BLVD. PALOS PARK IL 60464 196,000.00
CPIAR 507921 PODBEVSEK CHARLENE M 736 MELISSA DRIVE BOLINGBROOK IL 60640 131,900.00
CPIAR 507954 SUTHERLIN HENRY B 7419 S MICHIGAN AVENUE CHICAGO IL 60619 71,100.00
CPIAR 507962 BAILEY RONALD J 12500 TIMBER LANE DRIVE PALOS PARK IL 60464 120,000.00
CPIAR 508135 LESIAK JOSEPH E 6705 OLSON ROAD UNION IL 60180 88,000.00
CPIAR 508200 CHUNG SAMUEL 7250 W 84TH STREET BRIDGEVIEW IL 60455 60,000.00
CPIAR 508234 NIELSEN BRIAN 793 WELLINGTON ELK GROVE V IL 60007 68,800.00
CPIAR 508317 MIERZWINSKI WALTER S 974 WESTCHESTER CIRCLE SCHAUMBERG IL 60193 84,000.00
CPIAR 508366 KOVACH KAREN W 416 W GRANT PLACE CHICAGO IL 60614 378,000.00
CPIAR 508457 REHFELDT JADA M 17004 S KEDZIE AVENUE HAZEL CREST IL 60429 60,800.00
CPIAR 508473 LESHINSKI BRUCE A 713 ZAININGER AVENUE NAPERVILLE IL 60563 180,000.00
CPIAR 508978 CAITHAMER MICHAEL J 2736 N MALLARD LANE ROUND LAKE IL 60073 147,000.00
CPIAR 508994 WILHITE GARY L 1694 PEBBLE BEACH DRIVE HOFFMAN EST IL 60195 132,000.00
CPIAR 509018 LAWLESS JAMES J 2490 BRISTOL COURT AURORA IL 60504 106,100.00
CPIAR 509133 RODRIGUEZ MARC D 458 RUSH COURT LAKE ZURICH IL 60047 117,300.00
CPIAR 509182 MANSFIELD ROBERT C 3910 WISTERIA COURT LAKE IN THE IL 60102 180,000.00
CPIAR 509190 PEREZ JR. JORGE R 21 W 530 IRVING PARK RD ITASCA IL 60143 144,000.00
CPIAR 509208 KLEINSCHMIDT AMY L 1163 HARBOR COURT GLENDALE HE IL 60139 70,000.00
CPIAR 509315 REITER THOMAS W 1008 W BRUMMEL STREET EVANSTON IL 60202 120,000.00
CPIAR 509331 COLWELL JOHN C 560 LONG HILL ROAD GURNEE IL 60031 218,000.00
CPIAR 509380 SINGLETON NETTYE 902 ASH FLOSSMOOR IL 60422 136,500.00
CPIAR 510040 LUNDY STEVEN D 27038 N MAPLE AVENUE MUNDELEIN IL 60060 365,000.00
CPIAR 510057 SCHACHMAN DAVID 622 MAPLE AVENUE WILMETTE IL 60091 375,000.00
<CAPTION>
Initial Minimum Maximum
Cut-off Date First Mort- Mort- Mort-
Principal Payment Maturity gage gage gage Gross
Sale ID Account Balance Date Date Rate Rate Rate Margin
- ---------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C>
CPIAR 504522 106,872.14 08/01/93 07/01/23 6.250 0.000 12.250 2.750
CPIAR 504712 217,139.55 08/01/93 07/01/23 6.125 0.000 12.125 2.750
CPIAR 504720 264,817.76 08/01/93 07/01/23 6.500 0.000 12.500 2.750
CPIAR 504803 18,032.76 08/01/93 07/01/23 6.375 0.000 12.375 2.750
CPIAR 504860 119,673.77 12/01/93 11/01/23 6.250 0.000 12.250 2.750
CPIAR 504878 119,673.77 12/01/93 11/01/23 6.250 0.000 12.250 2.750
CPIAR 505123 100,417.66 09/01/93 08/01/23 6.375 0.000 12.375 2.750
CPIAR 505214 101,918.32 10/01/93 09/01/23 6.750 0.000 12.750 2.750
CPIAR 505222 55,384.27 07/01/93 06/01/23 6.750 0.000 12.750 2.750
CPIAR 505297 84,199.08 08/01/93 07/01/23 6.625 0.000 12.625 2.750
CPIAR 505305 144,449.94 10/01/93 09/01/23 6.000 0.000 12.000 2.750
CPIAR 505412 94,150.08 08/01/93 07/01/23 6.625 0.000 12.625 2.750
CPIAR 505446 54,291.78 08/01/93 07/01/08 6.625 0.000 12.625 2.875
CPIAR 505511 167,644.53 10/01/93 09/01/23 6.625 0.000 12.625 2.750
CPIAR 505545 137,192.80 08/01/93 07/01/23 6.500 0.000 12.500 2.750
CPIAR 505560 117,619.07 09/01/93 08/01/23 6.625 0.000 12.625 2.750
CPIAR 505727 109,483.21 09/01/93 08/01/23 6.500 0.000 12.500 2.750
CPIAR 505743 118,771.89 10/01/93 09/01/23 6.500 0.000 12.500 2.750
CPIAR 506048 67,583.79 10/01/93 09/01/23 6.250 0.000 12.250 2.750
CPIAR 506071 90,192.87 02/01/94 01/01/24 6.375 0.000 12.375 2.750
CPIAR 506154 64,215.73 01/01/94 12/01/23 6.250 0.000 12.250 2.750
CPIAR 506295 272,098.47 09/01/93 08/01/23 6.250 0.000 12.250 2.750
CPIAR 506345 164,078.73 10/01/93 09/01/23 6.000 0.000 12.000 2.750
CPIAR 506386 62,893.27 10/01/93 09/01/23 5.250 0.000 11.250 2.750
CPIAR 506527 90,682.37 10/01/93 09/01/23 6.250 0.000 12.250 2.750
CPIAR 506618 115,428.23 11/01/93 10/01/23 6.250 0.000 12.250 2.750
CPIAR 506717 72,041.37 11/01/93 10/01/23 6.000 0.000 12.000 2.750
CPIAR 506725 54,487.79 10/01/93 09/01/23 6.250 0.000 12.250 2.750
CPIAR 506733 154,458.14 12/01/93 11/01/23 6.250 0.000 12.250 2.750
CPIAR 506766 99,304.75 11/01/93 10/01/23 6.250 0.000 12.250 2.750
CPIAR 506816 84,917.47 11/01/93 10/01/23 6.250 0.000 12.250 2.750
CPIAR 506923 42,125.06 12/01/93 11/01/23 6.250 0.000 12.250 2.750
CPIAR 507046 100,847.23 11/01/93 10/01/23 5.125 0.000 11.125 2.750
CPIAR 507293 70,604.50 11/01/93 10/01/23 6.000 0.000 12.000 2.750
CPIAR 507483 91,813.59 12/01/93 11/01/23 6.250 0.000 12.250 2.750
CPIAR 507566 68,812.49 12/01/93 11/01/23 6.250 0.000 12.250 2.750
CPIAR 507624 187,527.54 11/01/93 10/01/23 6.250 0.000 12.250 2.750
CPIAR 507921 125,048.10 01/01/94 12/01/23 6.250 0.000 12.250 2.750
CPIAR 507954 67,816.79 01/01/94 12/01/23 6.250 0.000 12.250 2.875
CPIAR 507962 115,408.53 01/01/94 12/01/23 6.750 0.000 12.750 2.750
CPIAR 508135 74,369.10 12/01/93 11/01/08 6.250 0.000 12.250 2.750
CPIAR 508200 57,506.52 01/01/94 12/01/23 6.250 0.000 12.250 2.750
CPIAR 508234 66,059.28 01/01/94 12/01/23 6.500 0.000 12.500 2.750
CPIAR 508317 80,394.22 01/01/94 12/01/23 6.250 0.000 12.250 2.750
CPIAR 508366 362,157.84 01/01/94 12/01/23 6.250 0.000 12.250 2.750
CPIAR 508457 58,222.79 01/01/94 12/01/23 6.250 0.000 12.250 2.750
CPIAR 508473 169,149.06 01/01/94 12/01/23 6.250 0.000 12.250 2.750
CPIAR 508978 142,345.64 04/01/94 03/01/24 8.000 0.000 14.000 2.750
CPIAR 508994 123,632.78 01/01/94 12/01/23 6.250 0.000 12.250 2.750
CPIAR 509018 101,779.21 02/01/94 01/01/24 6.250 0.000 12.250 2.750
CPIAR 509133 112,759.28 02/01/94 01/01/24 6.625 0.000 12.625 2.750
CPIAR 509182 172,353.61 01/01/94 12/01/23 6.125 0.000 12.125 2.750
CPIAR 509190 138,484.87 02/01/94 01/01/24 6.625 0.000 12.625 2.750
CPIAR 509208 67,371.15 01/01/94 12/01/23 5.250 0.000 11.250 2.750
CPIAR 509315 115,490.36 02/01/94 01/01/24 5.125 0.000 11.125 2.750
CPIAR 509331 209,117.10 01/01/94 12/01/23 6.375 0.000 12.375 2.750
CPIAR 509380 131,165.82 03/01/94 02/01/24 6.375 0.000 12.375 2.750
CPIAR 510040 350,978.88 03/01/94 02/01/24 6.625 0.000 12.625 2.750
CPIAR 510057 360,634.96 03/01/94 02/01/24 6.625 0.000 12.625 2.750
</TABLE>
<PAGE>
Page 23 6/24/97
ALLIANCE FUNDING COMPANY
A DIVISION OF SUPERIOR BANK FSB
SALE SCHEDULE A
1997-2 CLASS 2 - INITIAL POOL OF ADJUSTABLE RATE MORTGAGES - SETTLEMENT 6/25/97
<TABLE>
<CAPTION>
Principal
Zip Balance at
Sale ID Account Name Address City State Code Origination
- ------------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C>
CPIAR 510081 BUCHTA ROBERT M 37 W 560 MILLES COURT ST.CHARLES IL 60175 120,000.00
CPIAR 510263 MAMACH HARRY 625 NORWOOD SCHAUMBURG IL 60193 101,500.00
CPIAR 510420 WANG JERRY W 21W228 SHELLEY DRIVE ITASCA IL 60143 208,600.00
CPIAR 510578 CODY LAURA J 2754 N HAMPDEN COURT CHICAGO IL 60614 75,000.00
CPIAR 510792 MEHTA SHIRISH C 1 S 281 HOLYOKE LANE VILLA PARK IL 60181 74,000.00
CPIAR 511170 TALENTO ROMEO G 4339 ELM STREET DOWNERS GRO IL 60515 97,600.00
CPIAR 511261 JOSEPH MARTIN D 617 N SCOTT STREET WHEATON IL 60187 160,000.00
CPIAR 511766 KREBS LISA ANN 820 CASTLETON COURT MUNDELEIN IL 60060 100,000.00
--------------------------------------- -----------------
185 Sale Total 23,753,055.00
185 Total with Superior Bank Retail 23,753,055.00
1,002 Grand Total 120,813,711.00
<CAPTION>
Initial Minimum Maximum
Cut-off Date First Mort- Mort- Mort-
Principal Payment Maturity gage gage gage Gross
Sale ID Account Balance Date Date Rate Rate Rate Margin
- ---------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C>
CPIAR 510081 90,995.82 05/01/94 04/01/24 6.875 0.000 12.875 2.750
CPIAR 510263 97,691.62 03/01/94 02/01/24 6.750 0.000 12.750 2.750
CPIAR 510420 193,189.06 03/01/94 02/01/24 6.375 0.000 12.375 2.750
CPIAR 510578 69,413.94 03/01/94 02/01/24 4.500 0.000 10.500 2.750
CPIAR 510792 71,203.22 03/01/94 02/01/24 5.125 0.000 11.125 2.750
CPIAR 511170 94,032.49 04/01/94 03/01/24 5.125 0.000 11.125 2.750
CPIAR 511261 154,390.38 05/01/94 04/01/24 6.750 0.000 12.750 2.750
CPIAR 511766 97,106.35 07/01/94 06/01/24 7.500 0.000 13.500 2.750
-------------- -------------------------------
22,228,078.66 6.327 0.000 12.314 2.762
22,228,078.66 6.327 0.000 12.314 2.762
19,164,842.18 9.670 7.954 15.667 5.531
</TABLE>
<PAGE>
Page 1 6/24/97
ALLIANCE FUNDING COMPANY
A DIVISION OF SUPERIOR BANK FSB
SALE SCHEDULE B
1997-2 CLASS 2 - INITIAL POOL OF ADJUSTABLE RATE MORTGAGES - SETTLEMENT 6/25/97
<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
- ----------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C>
ML162 161244207 HARNICK DONALD 225,000.00 1 2,079.22 222,163.02 90.0
ML162 161264031 MOLAEI MOHSEN 59,500.00 1 581.42 58,915.06 85.0
ML162 161319413 KUCHARSKI DAVID A 106,000.00 1 940.03 105,861.88 59.2
ML162 161363239 FLAHERTY COLM F 197,000.00 1 1,875.09 196,465.34 69.6
ML162 161371299 MORNINGSTAR JOSEPH M 171,900.00 1 1,492.69 171,503.03 90.0
ML162 161372545 BEST EDWARD J 50,000.00 1 424.99 49,903.05 73.5
ML162 161414156 SELLAND NORMAN D 63,750.00 1 661.88 63,750.00 75.0
ML162 161414487 MILTON CHARLES W 116,000.00 1 1,215.56 115,891.90 80.0
ML162 161420880 AL-AKOUBI AQIL 25,000.00 1 212.50 24,975.94 89.2
ML162 161421417 WILLIS MARSHALL M 54,750.00 1 465.37 54,723.77 49.5
ML162 161423009 REYNOLDS ROBERT 197,200.00 1 1,859.38 197,127.75 85.0
ML162 161423843 SALMON SEAN R 182,500.00 1 1,435.73 182,289.23 77.9
ML162 161425160 THOMAS JAMES 81,000.00 3 740.94 80,968.75 75.0
ML162 161429048 RICHTER MARK S 89,100.00 1 831.73 89,066.46 90.0
ML162 161430855 HUNTER MICHAEL C 57,000.00 1 548.21 57,000.00 75.0
ML162 161432521 WILLESEN RODNEY 61,600.00 1 569.24 61,552.15 80.0
ML162 161436142 LOVE DAVID JOHN 56,100.00 1 461.52 56,100.00 85.0
ML162 161436233 SANJARA VAL 83,800.00 1 943.40 83,781.89 76.1
ML162 161438239 PARRISH SANTINO 66,600.00 1 596.80 66,600.00 90.0
ML162 161438502 HAMAR BRUCE A 122,400.00 1 1,377.95 122,373.55 80.0
ML162 161439385 ARNOLD GREGORY 54,400.00 1 607.09 54,400.00 80.0
ML162 161440029 HUBBS SCOTT EDWARD 66,000.00 3 736.55 66,000.00 80.0
ML162 161442181 HOSTETLER JERRY A 628,200.00 1 5,512.90 628,200.00 69.9
ML162 161442843 KLOZA DIANE M 197,911.00 1 1,922.23 197,911.00 78.6
ML162 161443411 JACKSON RANDALL M 110,000.00 8 965.33 109,951.34 84.9
ML162 161443536 LABALESTRA PIETRO 60,000.00 1 594.17 60,000.00 30.0
ML162 161443734 MARETIC MATHEW ROBERT 20,000.00 1 173.67 19,990.91 42.5
ML162 161443916 YARBROUGH CALVIN D 135,950.00 1 1,256.31 135,897.41 79.9
ML162 161445283 GREENE DENISE 94,500.00 4 820.59 94,500.00 89.5
ML162 161445465 SMELSER DONALD LEE 152,300.00 1 1,595.95 152,258.78 79.9
ML162 161445523 WARREN ROBERT 21,000.00 1 222.09 21,000.00 56.7
ML162 161445747 STEMME MARY H 35,000.00 1 313.64 34,985.32 39.3
ML162 161447537 JOHNSON RICHARD M 115,000.00 1 988.03 115,000.00 71.4
ML162 161447586 TOTUSEK RICHARD Q 54,000.00 1 449.14 53,972.74 58.6
ML162 161447925 SRISAVATHTHA SENGDARA 228,555.00 1 2,133.52 228,468.95 90.0
ML162 161449756 FORENPOHAR VERNON E 136,000.00 1 1,057.79 136,000.00 85.0
ML162 161449772 SATRA ALLEN E 96,000.00 1 746.68 95,943.32 84.9
ML162 161450630 HOFFMANN DETLEF H 58,500.00 1 465.45 58,500.00 90.0
ML162 161450937 WILLIAMS BRUCE A 68,000.00 1 692.93 68,000.00 80.0
ML162 161452214 ROSCOE JENNIFER A 46,800.00 1 428.10 46,800.00 90.0
ML162 161452362 DUNIGAN ERIC V 49,200.00 1 440.88 49,200.00 40.8
ML162 161452446 GURA ROBERT A 132,000.00 1 1,074.00 131,858.97 80.0
ML162 161452685 SCHILLING RODNEY A 183,600.00 1 1,923.94 183,550.31 80.5
ML162 161453675 ZEDDIS DOUGLAS W 86,400.00 1 955.76 86,400.00 80.0
ML162 161453733 JOSFAN DAVID M 845,000.00 8 6,274.10 844,447.25 65.0
ML162 161454186 BLACKMON KIM 42,700.00 1 426.93 42,686.73 74.9
ML162 161454947 CIENKOSZ JERZY 122,400.00 1 1,365.96 122,372.79 80.0
ML162 161455266 BROWN SHERRY L 67,500.00 1 668.45 67,500.00 75.0
ML162 161456512 JOHNSON MELVIN A 87,300.00 1 726.12 87,300.00 90.0
ML162 161457197 JONES JACK E 134,400.00 1 1,241.99 134,348.01 80.0
ML162 161458039 BRUENNING JEFFREY D 85,900.00 1 745.91 85,900.00 89.9
ML162 161459219 REYNOLDS HELGA H 80,000.00 1 739.28 80,000.00 80.0
ML162 161459797 CISNEROS GILBERT J 99,000.00 1 841.49 98,952.57 90.0
ML162 161459847 ANDERSON CARL W 240,000.00 1 2,217.83 240,000.00 80.0
ML162 161460266 MARWICK PATRICIA A 135,000.00 1 1,247.53 135,000.00 63.6
ML162 161460514 WILLIAMS JOSEPH N 51,200.00 1 551.41 51,187.26 80.0
ML162 161460589 RUHLMAN STEVEN 66,500.00 1 505.45 66,500.00 70.0
ML162 161462288 MACERONI MICHAEL LOUIS 148,700.00 1 1,130.23 148,700.00 84.9
ML162 161462304 OMILION JOHN F 127,800.00 1 1,157.11 127,800.00 90.0
<CAPTION>
Next Current Property
Adjustment Mortgage Value at Owner
Sale ID Account Date Rate Origination Occupied
- -----------------------------------------------------------------------------
<S> <C> <C> <C> <C>
ML162 161244207 09/01/97 10.625 250,000.00 Y
ML162 161264031 09/01/97 11.375 70,000.00 Y
ML162 161319413 02/01/99 10.125 179,000.00 Y
ML162 161363239 11/01/97 11.000 283,000.00 Y
ML162 161371299 01/01/99 9.875 191,000.00 Y
ML162 161372545 01/01/99 9.625 68,000.00 Y
ML162 161414156 05/01/99 12.125 85,000.00 Y
ML162 161414487 03/01/99 12.250 145,000.00 Y
ML162 161420880 09/01/97 9.625 28,000.00 Y
ML162 161421417 10/01/97 9.625 110,600.00 Y
ML162 161423009 05/01/99 10.875 232,000.00 Y
ML162 161423843 09/01/97 8.750 234,000.00 Y
ML162 161425160 04/01/99 10.500 108,000.00 Y
ML162 161429048 05/01/99 10.750 99,000.00 Y
ML162 161430855 05/01/99 11.125 76,000.00 Y
ML162 161432521 04/01/99 10.625 77,000.00 Y
ML162 161436142 05/01/99 9.250 66,000.00 Y
ML162 161436233 04/01/99 13.250 110,000.00 Y
ML162 161438239 05/01/99 10.250 74,000.00 Y
ML162 161438502 04/01/99 13.250 153,000.00 Y
ML162 161439385 05/01/99 13.125 68,000.00 Y
ML162 161440029 05/01/99 13.125 82,500.00 N
ML162 161442181 11/01/97 10.000 897,500.00 Y
ML162 161442843 05/01/99 11.250 251,697.00 Y
ML162 161443411 04/01/99 10.000 129,500.00 Y
ML162 161443536 11/01/97 11.500 200,000.00 Y
ML162 161443734 05/01/99 9.875 47,000.00 Y
ML162 161443916 10/01/97 10.625 169,950.00 Y
ML162 161445283 11/01/97 9.875 105,500.00 Y
ML162 161445465 05/01/99 12.250 190,400.00 Y
ML162 161445523 05/01/99 12.375 37,000.00 Y
ML162 161445747 05/01/99 10.250 89,000.00 Y
ML162 161447537 05/01/99 9.750 161,000.00 Y
ML162 161447586 05/01/99 9.375 92,000.00 N
ML162 161447925 04/01/99 10.750 253,950.00 Y
ML162 161449756 05/01/99 8.625 160,000.00 Y
ML162 161449772 05/01/99 8.625 113,000.00 Y
ML162 161450630 11/01/97 8.875 65,000.00 Y
ML162 161450937 11/01/97 11.875 85,000.00 Y
ML162 161452214 05/01/99 10.500 52,000.00 Y
ML162 161452362 05/01/99 10.250 120,500.00 N
ML162 161452446 10/01/97 9.125 165,000.00 Y
ML162 161452685 04/01/99 12.250 228,000.00 Y
ML162 161453675 05/01/99 13.000 108,000.00 Y
ML162 161453733 04/01/99 8.125 1,300,000.00 Y
ML162 161454186 05/01/99 11.625 57,000.00 Y
ML162 161454947 05/01/99 13.125 153,000.00 Y
ML162 161455266 05/01/99 11.500 90,000.00 Y
ML162 161456512 11/01/97 9.375 97,000.00 Y
ML162 161457197 04/01/99 10.625 168,000.00 Y
ML162 161458039 11/01/97 9.875 95,500.00 Y
ML162 161459219 11/01/97 10.625 100,000.00 Y
ML162 161459797 11/01/97 9.625 110,000.00 Y
ML162 161459847 11/01/97 10.625 300,000.00 Y
ML162 161460266 05/01/99 10.625 212,000.00 Y
ML162 161460514 04/01/99 12.625 64,000.00 Y
ML162 161460589 05/01/99 8.375 95,000.00 N
ML162 161462288 11/01/97 8.375 175,000.00 Y
ML162 161462304 05/01/99 10.375 142,000.00 Y
</TABLE>
<PAGE>
Page 2 6/24/97
ALLIANCE FUNDING COMPANY
A DIVISION OF SUPERIOR BANK FSB
SALE SCHEDULE B
1997-2 CLASS 2 - INITIAL POOL OF ADJUSTABLE RATE MORTGAGES - SETTLEMENT 6/25/97
<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
- ----------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C>
ML162 161462460 PHILLIPS RICKY D 62,900.00 1 616.90 62,879.34 85.0
ML162 161462700 LESSER DANIEL CRAIG 73,200.00 8 724.89 73,200.00 80.0
ML162 161462718 URBAN DONALD F 200,000.00 1 1,904.65 200,000.00 80.0
ML162 161463278 HAILEY-GAMBL CORNELIA 80,500.00 1 721.36 80,500.00 70.0
ML162 161464375 TOUCHARD TYRON P 114,300.00 1 1,024.24 114,300.00 89.4
ML162 161464565 WORKMAN MARK H 145,000.00 1 1,259.11 145,000.00 84.0
ML162 161466107 SCHEUERMANN ROBERT F 72,000.00 1 585.82 72,000.00 77.4
ML162 161466487 GRAVIS LESLIE P 94,500.00 1 873.27 94,500.00 53.3
ML162 161467113 FINLEY MICHAEL A 189,700.00 1 1,664.75 189,616.08 74.9
ML162 161467949 ZINDANCIOGLU ATTILA 249,000.00 3 2,208.19 248,892.75 74.3
ML162 161467980 O'TOOLE MICHAEL J 110,400.00 1 938.39 110,400.00 80.0
ML162 161469127 MONTOYA DEBRA C 54,600.00 1 474.12 54,600.00 70.0
ML162 161469804 DOTSON DANIEL C 154,700.00 1 1,444.10 154,641.75 85.0
ML162 161472642 WILLIAMS JULIE 41,000.00 1 363.60 41,000.00 53.9
ML162 161473145 HOLCOMB JACK 138,000.00 1 1,198.32 138,000.00 89.0
---------------------------------------------------------- ----------------------------------------
74 Sale Total 9,008,716.00 81,231.89 9,002,026.35 77.1
<CAPTION>
Next Current Property
Adjustment Mortgage Value at Owner
Sale ID Account Date Rate Origination Occupied
- ------------------------------------------------------------------------------
<S> <C> <C> <C> <C>
ML162 161462460 05/01/99 11.375 74,000.00 Y
ML162 161462700 05/01/99 11.500 91,500.00 Y
ML162 161462718 05/01/99 11.000 250,000.00 Y
ML162 161463278 11/01/97 10.250 115,000.00 Y
ML162 161464375 05/01/99 10.250 127,792.00 Y
ML162 161464565 11/01/97 9.875 172,500.00 Y
ML162 161466107 05/01/99 9.125 93,000.00 Y
ML162 161466487 11/01/97 10.625 177,000.00 Y
ML162 161467113 11/01/97 10.000 253,000.00 Y
ML162 161467949 11/01/97 10.125 335,000.00 Y
ML162 161467980 11/01/97 9.625 138,000.00 Y
ML162 161469127 05/01/99 9.875 78,000.00 N
ML162 161469804 05/01/99 10.750 182,000.00 Y
ML162 161472642 05/01/99 10.125 76,000.00 Y
ML162 161473145 11/01/97 9.875 155,000.00 Y
----------- ---------------------------
74 10.307 11,986,389.00
</TABLE>
<PAGE>
Page 3 6/24/97
ALLIANCE FUNDING COMPANY
A DIVISION OF SUPERIOR BANK FSB
SALE SCHEDULE B
1997-2 CLASS 2 - INITIAL POOL OF ADJUSTABLE RATE MORTGAGES - SETTLEMENT 6/25/97
<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
- ----------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C>
ML163 161202718 SMITH GERALDINE 87,500.00 1 857.50 87,161.35 70.0
ML163 161267075 PHILLIPS CHARLES 41,600.00 1 415.69 41,454.37 84.8
ML163 161363254 DORO CHARLES A 59,000.00 1 458.90 58,894.73 75.6
ML163 161366505 MILNER JEROME 89,600.00 1 853.28 89,470.44 70.0
ML163 161381645 FIELDS PAUL 102,500.00 3 824.74 102,273.51 82.0
ML163 161401567 KEOGAN THOMAS 59,800.00 1 673.22 59,787.07 65.0
ML163 161419445 STUART JEFFREY 150,000.00 8 1,571.84 150,000.00 64.2
ML163 161432323 GOODFELLOW DANE P 283,200.00 1 2,670.26 282,991.54 80.0
ML163 161434808 RACUT DAWN M 152,900.00 1 1,384.37 152,900.00 84.9
ML163 161434873 BEDFORD HILLARY 189,000.00 1 1,711.22 189,000.00 90.0
ML163 161437215 BROWN EARLEAN 21,400.00 1 222.18 21,394.05 64.8
ML163 161439302 ALTENDORF MARK 79,100.00 3 708.82 79,100.00 70.0
ML163 161440003 CROOKS LESTER 192,000.00 1 2,086.45 192,000.00 80.0
ML163 161442199 GARDOUR TERRI M 114,000.00 1 1,150.73 114,000.00 80.0
ML163 161443726 LAETSCH DAVID T 122,400.00 1 1,142.58 122,400.00 90.0
ML163 161445481 PARKS TIMOTHY 134,400.00 1 1,369.54 134,400.00 79.0
ML163 161446372 ABSHIRE BRUCE 88,800.00 1 870.92 88,770.83 74.6
ML163 161446851 DAVIS YVETTE 34,600.00 1 372.63 34,600.00 54.9
ML163 161446901 REYES LUZ L 116,000.00 3 1,148.74 115,962.93 75.8
ML163 161447529 STEVENSON JANICE M 92,000.00 1 981.88 92,000.00 80.0
ML163 161448154 HOLLAND JOHN L 117,300.00 1 1,139.29 117,300.00 85.0
ML163 161448303 OSBORNE ALAN C 280,000.00 8 2,457.20 280,000.00 75.6
ML163 161448428 FELIX GREGORY 64,000.00 1 555.74 64,000.00 80.0
ML163 161448451 WARNER RAY 240,000.00 1 2,106.17 239,893.83 80.0
ML163 161448923 BUCHANAN MELINDA 73,500.00 1 699.96 73,500.00 75.0
ML163 161449145 COLETTA JAMES 140,000.00 1 1,521.37 139,931.90 36.3
ML163 161449327 WATKINS IRLINE 91,000.00 1 962.39 91,000.00 65.0
ML163 161451018 MANGELSON SEAN PAUL 53,550.00 1 550.82 53,534.68 80.7
ML163 161452370 RENO DL 132,000.00 1 1,447.30 132,000.00 80.0
ML163 161453527 MEYER DANIEL 53,900.00 1 463.08 53,900.00 70.0
ML163 161453808 SHULL BRADLEY R 160,000.00 1 1,359.98 159,923.35 80.0
ML163 161455027 LITTLE JAMES M 41,100.00 1 410.93 41,100.00 60.0
ML163 161455597 SOULE JONATHAN F 81,000.00 1 756.12 81,000.00 90.0
ML163 161456066 MEYER DANIEL 64,400.00 1 553.30 64,400.00 70.0
ML163 161456637 CONTRERAS ANGELITA CASTIL 45,900.00 1 441.46 45,884.07 85.0
ML163 161459367 ASHMEAD RONALD 85,600.00 1 855.86 85,600.00 80.0
ML163 161459433 PATRICK JOHN C 63,700.00 1 564.91 63,672.56 74.9
ML163 161459581 GILANI MOHAMMAD 289,000.00 1 2,834.41 289,000.00 85.0
ML163 161459649 BERENDT RAYMOND II 64,300.00 1 600.23 64,300.00 89.9
ML163 161459961 JOHNSON DEBORAH 56,000.00 1 528.02 56,000.00 80.0
ML163 161459995 TYSON MARK A 137,900.00 3 1,159.54 137,832.17 70.0
ML163 161460118 JONES ROBERT 131,200.00 1 1,261.86 131,200.00 80.0
ML163 161460175 BOYES JENNIFER 147,276.00 8 1,251.83 147,205.45 90.0
ML163 161460423 THOMAS SAM 146,800.00 1 1,329.14 146,740.07 84.8
ML163 161460449 COLLIER PATRICIA 130,000.00 3 1,400.06 130,000.00 65.0
ML163 161460522 MARABELLA JAMES J 107,500.00 1 963.31 107,500.00 71.6
ML163 161460670 DUAH ROBERT 423,750.00 8 3,797.23 423,750.00 75.0
ML163 161461389 RAPP NEIL 80,800.00 1 739.11 80,767.89 65.3
ML163 161461413 JABRO SINAN 280,500.00 1 2,777.77 280,500.00 85.0
ML163 161461421 STOVER PATRICIA A 85,400.00 1 853.86 85,400.00 70.0
ML163 161461454 HAYES BEVERLY 84,800.00 1 946.35 84,800.00 80.0
ML163 161461967 BURNHAM CHRISTY 116,000.00 1 1,093.75 116,000.00 80.0
ML163 161463443 EAST ROBERT 67,400.00 1 641.87 67,375.96 74.0
ML163 161463591 MORVILLO JACK F 59,200.00 1 574.99 59,200.00 80.0
ML163 161464045 PIPPIN PAUL E 32,200.00 1 321.95 32,200.00 74.8
ML163 161464177 TROMBLEY GARY J 160,000.00 1 1,301.81 159,814.86 80.0
ML163 161464227 COVERT ANN 30,000.00 1 263.27 30,000.00 33.3
ML163 161464268 DEKARSKE HAROLD H 76,500.00 1 728.53 76,472.72 85.0
ML163 161464979 NAYSTATT DAVID J 100,400.00 1 899.69 100,400.00 71.7
<CAPTION>
Next Current Property
Adjustment Mortgage Value at Owner
Sale ID Account Date Rate Origination Occupied
- ------------------------------------------------------------------------------
<S> <C> <C> <C> <C>
ML163 161202718 02/01/98 11.375 125,000.00 Y
ML163 161267075 03/01/98 11.625 49,000.00 Y
ML163 161363254 02/01/99 8.625 78,000.00 Y
ML163 161366505 01/01/99 11.000 128,000.00 Y
ML163 161381645 01/01/99 9.000 125,000.00 Y
ML163 161401567 04/01/99 13.250 92,000.00 Y
ML163 161419445 05/01/99 12.250 233,500.00 Y
ML163 161432323 09/01/97 10.875 354,000.00 Y
ML163 161434808 11/01/97 10.375 179,900.00 Y
ML163 161434873 11/01/97 10.375 210,000.00 Y
ML163 161437215 04/01/99 12.125 33,000.00 Y
ML163 161439302 05/01/99 10.250 113,000.00 N
ML163 161440003 05/01/99 12.750 240,000.00 Y
ML163 161442199 11/01/97 11.750 142,500.00 Y
ML163 161443726 05/01/99 10.750 136,000.00 Y
ML163 161445481 05/01/99 11.875 170,000.00 Y
ML163 161446372 04/01/99 11.375 119,000.00 Y
ML163 161446851 05/01/99 12.625 63,000.00 Y
ML163 161446901 05/01/99 11.500 153,000.00 Y
ML163 161447529 05/01/99 12.500 115,000.00 Y
ML163 161448154 05/01/99 11.250 138,000.00 Y
ML163 161448303 05/01/99 10.000 370,000.00 Y
ML163 161448428 05/01/99 9.875 80,000.00 Y
ML163 161448451 05/01/99 10.000 300,000.00 Y
ML163 161448923 05/01/99 11.000 98,000.00 Y
ML163 161449145 04/01/99 12.750 385,000.00 Y
ML163 161449327 05/01/99 12.375 140,000.00 Y
ML163 161451018 04/01/99 12.000 66,300.00 Y
ML163 161452370 05/01/99 12.875 165,000.00 Y
ML163 161453527 06/01/99 9.750 77,000.00 Y
ML163 161453808 10/01/97 9.625 200,000.00 Y
ML163 161455027 05/01/99 11.625 68,500.00 Y
ML163 161455597 05/01/99 10.750 90,000.00 Y
ML163 161456066 06/01/99 9.750 92,000.00 Y
ML163 161456637 10/01/97 11.125 54,000.00 Y
ML163 161459367 05/01/99 11.625 107,000.00 Y
ML163 161459433 05/01/99 10.125 85,000.00 Y
ML163 161459581 05/01/99 11.375 340,000.00 Y
ML163 161459649 05/01/99 10.750 71,500.00 Y
ML163 161459961 05/01/99 10.875 70,000.00 Y
ML163 161459995 04/01/99 9.500 197,000.00 N
ML163 161460118 12/01/97 11.125 164,000.00 Y
ML163 161460175 11/01/97 9.625 163,640.00 Y
ML163 161460423 11/01/97 10.375 173,000.00 Y
ML163 161460449 05/01/99 12.625 200,000.00 Y
ML163 161460522 11/01/97 10.250 150,000.00 Y
ML163 161460670 05/01/99 10.250 565,000.00 Y
ML163 161461389 05/01/99 10.500 123,600.00 Y
ML163 161461413 05/01/99 11.500 330,000.00 Y
ML163 161461421 05/01/99 11.625 122,000.00 Y
ML163 161461454 05/01/99 13.125 106,000.00 Y
ML163 161461967 06/01/99 10.875 145,000.00 Y
ML163 161463443 05/01/99 11.000 91,000.00 Y
ML163 161463591 05/01/99 11.250 74,000.00 Y
ML163 161464045 05/01/99 11.625 43,000.00 Y
ML163 161464177 11/01/97 9.125 200,000.00 Y
ML163 161464227 12/01/97 10.000 90,000.00 Y
ML163 161464268 05/01/99 11.000 90,000.00 Y
ML163 161464979 05/01/99 10.250 140,000.00 Y
</TABLE>
<PAGE>
Page 4 6/24/97
ALLIANCE FUNDING COMPANY
A DIVISION OF SUPERIOR BANK FSB
SALE SCHEDULE B
1997-2 CLASS 2 - INITIAL POOL OF ADJUSTABLE RATE MORTGAGES - SETTLEMENT 6/25/97
<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
- ----------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C>
ML163 161465000 BAIZ HASSAN 44,000.00 1 465.33 44,000.00 80.0
ML163 161465257 CARR TERRY L 182,350.00 8 2,124.59 182,350.00 79.9
ML163 161465760 THOMAS ROBERT L 38,000.00 3 409.25 38,000.00 44.7
ML163 161465786 ALLENBAUGH RICHARD 174,200.00 1 1,708.49 174,200.00 84.9
ML163 161466073 KAPILLA KEITH 150,000.00 1 1,372.11 150,000.00 66.6
ML163 161466305 CRANE I J 217,600.00 1 2,322.35 217,600.00 80.0
ML163 161466560 SARNO B MICHAEL 84,000.00 1 721.69 84,000.00 70.0
ML163 161467261 SAMESHIMA HOWARD S 96,900.00 1 823.64 96,900.00 85.0
ML163 161467287 POMERLEAU LISA DAWN 119,000.00 1 1,155.80 119,000.00 85.0
ML163 161467360 BURNS ROBERT H 129,500.00 5 1,088.91 129,436.30 70.0
ML163 161467758 LURIE STEVEN R. 154,700.00 1 1,203.24 154,700.00 85.0
ML163 161468889 RAMIREZ MANUEL E 75,650.00 3 574.99 75,602.98 85.0
ML163 161468913 GURLEY JOHN 91,000.00 8 724.04 91,000.00 70.0
ML163 161468947 HELMICK GORDON 75,600.00 7 748.66 75,600.00 90.0
ML163 161469085 MICZO ALAN 195,500.00 1 1,880.28 195,500.00 85.0
ML163 161469630 DEAN KENNETH 92,000.00 1 832.97 92,000.00 80.0
ML163 161469903 CONSAMUS JAMES R 139,500.00 1 1,263.04 139,500.00 90.0
ML163 161470059 ANDERSON JOHN 102,000.00 3 885.72 102,000.00 85.0
ML163 161470083 CARILLON RALPH D JR 200,000.00 1 1,450.14 200,000.00 80.0
ML163 161470190 SOTO ROBERTO 100,000.00 1 999.84 99,968.91 80.0
ML163 161470232 BOROWSKI LINDA M 63,700.00 1 636.90 63,700.00 70.0
ML163 161471024 ROBINSON CALVIN D 67,500.00 1 674.89 67,500.00 75.0
ML163 161471503 NELSON DOUGLAS V 105,000.00 1 902.11 104,951.02 60.0
ML163 161471719 FANNIN JOSEPH K 633,600.00 8 5,736.66 633,600.00 80.0
ML163 161472261 HANDLEY CYNTHIA 71,100.00 1 650.38 71,100.00 90.0
ML163 161472394 FIELDS ADAM 119,000.00 1 1,055.32 118,948.74 85.0
ML163 161472469 NELSON LORI W 182,750.00 1 1,774.98 182,750.00 85.0
ML163 161472592 COLE ALEXANDER 122,000.00 1 948.90 121,927.98 79.7
ML163 161472832 WHITE MOIRA 86,400.00 8 774.23 86,400.00 90.0
ML163 161473046 GRAND-PRE JAMES V 97,200.00 1 934.85 97,200.00 90.0
ML163 161473137 MCINTURFF MIKE C E 64,000.00 8 538.15 63,968.52 60.9
ML163 161473830 MILLER KAREN 85,600.00 1 591.22 85,600.00 80.0
ML163 161474127 BALLARD STEPHENSON R 154,700.00 8 1,314.93 154,700.00 85.0
ML163 161474531 MANLEY DAVID 63,200.00 1 584.03 63,200.00 80.0
ML163 161474721 DUNCAN ORVILLE JR 78,800.00 1 864.00 78,800.00 80.0
ML163 161475454 MORALES CYNTHIA 118,150.00 1 1,147.55 118,150.00 85.0
ML163 161475934 HENSLEY LINDA E 62,900.00 1 575.37 62,900.00 85.0
ML163 161479894 FALLOWS JESSE 104,220.00 1 810.61 104,220.00 90.0
---------------------------------------------------------- -----------------------------------------
97 Sale Total 11,544,996.00 107,860.11 11,542,634.78 78.6
<CAPTION>
Next Current Property
Adjustment Mortgage Value at Owner
Sale ID Account Date Rate Origination Occupied
- ------------------------------------------------------------------------------
<S> <C> <C> <C> <C>
ML163 161465000 05/01/99 12.375 55,000.00 Y
ML163 161465257 05/01/99 13.750 228,000.00 Y
ML163 161465760 05/01/99 12.625 85,000.00 Y
ML163 161465786 11/01/97 11.375 205,000.00 Y
ML163 161466073 05/01/99 10.500 225,000.00 Y
ML163 161466305 05/01/99 12.500 272,000.00 Y
ML163 161466560 05/01/99 9.750 120,000.00 Y
ML163 161467261 11/01/97 9.625 114,000.00 Y
ML163 161467287 05/01/99 11.250 140,000.00 Y
ML163 161467360 05/01/99 9.500 185,000.00 N
ML163 161467758 11/01/97 8.625 182,000.00 Y
ML163 161468889 11/01/97 8.375 89,000.00 Y
ML163 161468913 05/01/99 8.875 130,000.00 Y
ML163 161468947 05/01/99 11.500 84,000.00 Y
ML163 161469085 05/01/99 11.125 230,000.00 Y
ML163 161469630 05/01/99 10.375 115,000.00 Y
ML163 161469903 05/01/99 10.375 155,000.00 Y
ML163 161470059 05/01/99 9.875 120,000.00 Y
ML163 161470083 11/01/97 7.875 250,000.00 Y
ML163 161470190 05/01/99 11.625 125,000.00 Y
ML163 161470232 05/01/99 11.625 91,000.00 Y
ML163 161471024 06/01/99 11.625 90,000.00 Y
ML163 161471503 05/01/99 9.750 175,000.00 Y
ML163 161471719 11/01/97 10.375 792,000.00 Y
ML163 161472261 06/01/99 10.500 79,000.00 Y
ML163 161472394 11/01/97 10.125 140,000.00 Y
ML163 161472469 05/01/99 11.250 215,000.00 Y
ML163 161472592 11/01/97 8.625 153,000.00 Y
ML163 161472832 05/01/99 10.250 96,000.00 Y
ML163 161473046 05/01/99 11.125 108,000.00 Y
ML163 161473137 05/01/99 9.500 105,000.00 Y
ML163 161473830 12/01/97 7.375 107,000.00 Y
ML163 161474127 12/01/97 9.625 182,000.00 Y
ML163 161474531 06/01/99 10.625 79,000.00 Y
ML163 161474721 05/01/99 12.875 98,500.00 Y
ML163 161475454 06/01/99 11.250 139,000.00 Y
ML163 161475934 05/01/99 10.500 74,000.00 Y
ML163 161479894 12/01/97 8.625 115,800.00 Y
--------------- --------------------------
97 10.745 14,971,740.00
</TABLE>
<PAGE>
Page 5 6/24/97
ALLIANCE FUNDING COMPANY
A DIVISION OF SUPERIOR BANK FSB
SALE SCHEDULE B
1997-2 CLASS 2 - INITIAL POOL OF ADJUSTABLE RATE MORTGAGES - SETTLEMENT 6/25/97
<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
- ----------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C>
ML166 161233119 SMITH GLENTON A 240,000.00 1 2,306.42 239,029.92 88.8
ML166 161400007 WEIMER GENE L JR 135,000.00 8 1,222.30 134,776.68 89.9
ML166 161429303 LOSH PHILIP 123,000.00 1 1,068.07 123,000.00 87.2
ML166 161439054 JOHNSON MARY L 45,700.00 1 456.93 45,700.00 74.9
ML166 161441019 FLOWERS BRIAN 191,200.00 1 1,731.14 191,200.00 84.9
ML166 161447362 BENTON H DAVID 143,600.00 1 1,220.58 143,600.00 84.9
ML166 161449111 BULLS OWEN JR 134,400.00 3 1,229.41 134,330.50 80.0
ML166 161449426 TRIPP ROBERT 130,500.00 1 1,304.79 130,500.00 75.0
ML166 161452792 BARNUM FRANK G 64,400.00 1 547.39 64,400.00 70.0
ML166 161455241 WOUDSTRA STEVEN 158,950.00 1 1,498.73 158,891.76 85.0
ML166 161457312 HARMON JAMES 52,000.00 1 437.24 52,000.00 80.0
ML166 161460506 CARR DERRELL 176,300.00 1 1,779.59 176,300.00 89.9
ML166 161461355 RUHLMAN STEVEN 80,500.00 1 611.86 80,500.00 70.0
ML166 161461397 CHURCHILL JAMES 61,200.00 1 577.05 61,200.00 85.0
ML166 161462361 VANDERFORD R SCOTT 76,000.00 1 659.95 76,000.00 52.7
ML166 161463252 LAUVE JOHN 85,000.00 1 714.73 85,000.00 68.0
ML166 161463468 BOJI CARLINA J 168,800.00 1 1,671.61 168,800.00 80.0
ML166 161464029 MCCARTHY SUSAN 100,000.00 1 896.10 100,000.00 68.9
ML166 161464235 MCDONALD BRENT 73,500.00 1 631.48 73,500.00 74.2
ML166 161464243 BURKHAMMER MARK 106,100.00 1 769.30 106,100.00 84.9
ML166 161465299 IQBAL SHAHID 293,250.00 8 3,129.74 293,250.00 85.0
ML166 161467188 HORAN ROBERT SR 128,700.00 1 1,117.56 128,700.00 89.0
ML166 161468558 JOHNSON LONNIE 228,000.00 1 2,323.32 228,000.00 80.0
ML166 161468665 GLOVER DAVID 152,900.00 1 1,398.64 152,900.00 88.3
ML166 161468822 SHAFFETT JOSEPH 88,900.00 1 948.80 88,900.00 70.0
ML166 161469275 MALOUFF PETER 93,600.00 1 804.17 93,600.00 90.0
ML166 161469770 NIELSON HARLAN 176,000.00 1 1,626.41 176,000.00 79.2
ML166 161470042 ANDERSON JOHN 90,000.00 3 716.08 90,000.00 69.2
ML166 161470307 KLEMENS ROBERT J 119,600.00 1 1,138.98 119,600.00 80.0
ML166 161471206 PIRAU JOHN 48,000.00 1 512.28 48,000.00 77.4
ML166 161471339 GUISTO JAIME F 387,900.00 8 3,226.36 387,900.00 90.0
ML166 161473640 PUDDY FRANK 80,700.00 1 678.57 80,700.00 84.9
ML166 161473657 GARDNER ROBERT C 133,450.00 1 1,195.85 133,450.00 85.0
ML166 161473780 CAMPBELL TIMOTHY 80,750.00 1 701.19 80,750.00 85.0
ML166 161474390 LOEFFLER ARLENE W 76,000.00 1 840.71 76,000.00 80.0
ML166 161474416 SMITH BEVERLY J 43,200.00 1 395.17 43,200.00 90.0
ML166 161475033 TERMOS MOUNIR 46,100.00 1 487.54 46,100.00 79.8
ML166 161476080 JAKOVLJEVIC VIKTOR 233,600.00 3 1,613.42 233,600.00 80.0
ML166 161476189 WEGMANN JEFFREY 119,800.00 1 1,107.07 119,800.00 84.9
ML166 161477187 GAUTHIER JOSEPH 114,300.00 1 1,066.97 114,300.00 90.0
ML166 161477880 MILLER PATRICK II 162,000.00 1 1,481.88 162,000.00 87.3
ML166 161478037 MEDICI JEAN MARIE 54,000.00 8 565.86 53,985.39 60.0
ML166 161478839 WILLIAMS DONETT J 57,300.00 1 508.15 57,300.00 84.8
ML166 161479191 MCDONALD COLETTE 94,850.00 1 737.73 94,850.00 53.8
ML166 161479290 DELATORRE MARIA 90,900.00 1 814.56 90,900.00 90.0
ML166 161479621 PETTY JOHN L 81,000.00 1 688.49 81,000.00 90.0
ML166 161479811 SIPAT WILFREDO 309,308.00 8 2,460.99 309,308.00 81.5
ML166 161482054 WIORSKI RONALD 112,500.00 1 1,189.76 112,500.00 54.8
ML166 161485081 BEDELL ELBERT 115,900.00 1 1,049.37 115,900.00 74.0
ML166 161485214 WOKASCH GREGORY I 365,500.00 1 3,446.26 365,500.00 85.0
---------------------------------------------------------- -----------------------------------------
50 Sale Total 6,524,158.00 59,306.55 6,522,822.25 81.7
<CAPTION>
Next Current Property
Adjustment Mortgage Value at Owner
Sale ID Account Date Rate Origination Occupied
- ------------------------------------------------------------------------------
<S> <C> <C> <C> <C>
ML166 161233119 02/01/98 11.125 270,000.00 Y
ML166 161400007 07/01/97 10.375 150,108.00 Y
ML166 161429303 06/01/99 9.875 141,000.00 Y
ML166 161439054 06/01/99 11.625 61,000.00 Y
ML166 161441019 12/01/97 10.375 225,000.00 Y
ML166 161447362 12/01/97 9.625 169,000.00 Y
ML166 161449111 04/01/99 10.500 168,000.00 Y
ML166 161449426 06/01/99 11.625 174,000.00 Y
ML166 161452792 06/01/99 9.625 92,000.00 Y
ML166 161455241 11/01/97 10.875 187,000.00 Y
ML166 161457312 05/01/99 9.500 65,000.00 Y
ML166 161460506 05/01/99 11.750 195,900.00 Y
ML166 161461355 05/01/99 8.375 115,000.00 N
ML166 161461397 11/01/97 10.875 72,000.00 Y
ML166 161462361 06/01/99 9.875 144,000.00 Y
ML166 161463252 05/01/99 9.500 125,000.00 N
ML166 161463468 05/01/99 11.500 211,000.00 Y
ML166 161464029 06/01/99 10.250 145,000.00 Y
ML166 161464235 06/01/99 9.750 99,000.00 Y
ML166 161464243 12/01/97 7.875 124,900.00 Y
ML166 161465299 05/01/99 12.500 345,000.00 Y
ML166 161467188 11/01/97 9.875 144,500.00 Y
ML166 161468558 06/01/99 11.875 285,000.00 Y
ML166 161468665 06/01/99 10.500 173,000.00 Y
ML166 161468822 06/01/99 12.500 127,000.00 Y
ML166 161469275 06/01/99 9.750 104,000.00 Y
ML166 161469770 06/01/99 10.625 222,000.00 Y
ML166 161470042 12/01/97 8.875 130,000.00 N
ML166 161470307 05/01/99 11.000 149,500.00 Y
ML166 161471206 06/01/99 12.500 62,000.00 Y
ML166 161471339 11/01/97 9.375 431,000.00 Y
ML166 161473640 06/01/99 9.500 95,000.00 Y
ML166 161473657 05/01/99 10.250 157,000.00 Y
ML166 161473780 12/01/97 9.875 95,000.00 Y
ML166 161474390 06/01/99 13.000 95,000.00 Y
ML166 161474416 06/01/99 10.500 48,000.00 Y
ML166 161475033 05/01/99 12.375 57,700.00 Y
ML166 161476080 12/01/97 7.375 292,000.00 Y
ML166 161476189 12/01/97 10.625 141,000.00 Y
ML166 161477187 06/01/99 10.750 127,000.00 Y
ML166 161477880 06/01/99 10.500 185,500.00 Y
ML166 161478037 05/01/99 12.250 90,000.00 Y
ML166 161478839 11/01/97 10.125 67,500.00 Y
ML166 161479191 12/01/97 8.625 176,000.00 Y
ML166 161479290 06/01/99 10.250 101,000.00 Y
ML166 161479621 12/01/97 9.625 90,000.00 Y
ML166 161479811 06/01/99 8.875 379,382.00 Y
ML166 161482054 06/01/99 12.375 205,000.00 Y
ML166 161485081 06/01/99 10.375 156,500.00 Y
ML166 161485214 06/01/99 10.875 430,000.00 Y
------------ --------------------------
50 10.406 8,095,490.00
</TABLE>
<PAGE>
Page 6 6/24/97
ALLIANCE FUNDING COMPANY
A DIVISION OF SUPERIOR BANK FSB
SALE SCHEDULE B
1997-2 CLASS 2 - INITIAL POOL OF ADJUSTABLE RATE MORTGAGES - SETTLEMENT 6/25/97
<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
- ----------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C>
ML167 161410113 WILLIAMS ROGER S 112,500.00 1 1,255.48 112,500.00 79.9
ML167 161427158 GLENN PATRICIA M 34,000.00 1 327.01 34,000.00 85.0
ML167 161457254 LINDSAY RICHARD 246,400.00 1 2,463.61 246,400.00 80.0
ML167 161458997 WAGONER WALT E 71,920.00 1 753.65 71,920.00 80.0
ML167 161464078 NEIHARDT LYNETTE 116,000.00 1 1,126.66 116,000.00 80.0
ML167 161468186 PADDILLA CINDIE 86,700.00 1 752.86 86,700.00 85.0
ML167 161471149 BRAXTON KEVIN 52,000.00 1 544.91 52,000.00 80.0
ML167 161471867 CANNON CLIFFORD 32,500.00 1 343.71 32,500.00 49.2
ML167 161472774 KUHARY GEORGE 91,600.00 1 995.41 91,600.00 64.9
ML167 161473020 WILKS SANDRA N 68,000.00 1 712.57 68,000.00 85.0
ML167 161473541 MALAK ANDREW T. 38,400.00 1 421.03 38,400.00 80.0
ML167 161475801 SWIATKIEWICZ LYNDA R 93,000.00 1 816.14 93,000.00 75.0
ML167 161475975 ENGEL SHARRON S 54,000.00 1 529.61 54,000.00 60.0
ML167 161476130 TADROS MUSA P. 208,000.00 1 1,883.25 208,000.00 80.0
ML167 161477179 KWAG DONG 170,000.00 1 1,555.06 170,000.00 73.9
ML167 161477344 ACOBA THOMAS R 135,950.00 1 1,294.68 135,950.00 84.9
ML167 161479647 BRADLEY DENISE 87,200.00 1 773.31 87,200.00 80.0
ML167 161479829 SUTT GLENN 148,750.00 1 1,416.58 148,750.00 85.0
ML167 161480926 LORIMOR ELLIS 85,400.00 1 718.09 85,400.00 70.0
ML167 161481361 RUSIN CASS R 141,300.00 1 1,201.04 141,300.00 90.0
ML167 161482302 BOESE DONNA 66,000.00 1 641.03 66,000.00 80.0
ML167 161483383 AMOS KEVIN L 46,800.00 1 428.10 46,800.00 86.6
ML167 161484449 BENTHIN JIM RUSSELL 111,600.00 1 1,020.85 111,600.00 90.0
ML167 161484571 MARMOLEJO ROBERT 37,000.00 1 387.72 37,000.00 64.9
ML167 161485420 STEINBERG ADAM BRADFORD 106,800.00 1 917.58 106,800.00 79.7
ML167 161486444 BANGO DOLORES 60,800.00 1 556.16 60,800.00 80.0
ML167 161486493 GARRIGAN MICHAEL 50,400.00 1 396.50 50,400.00 70.0
ML167 161487731 JOHANSEN THOMAS W 100,000.00 1 914.74 100,000.00 80.0
ML167 161488192 LUPRO MAZES 150,400.00 1 1,503.76 150,400.00 80.0
ML167 161488390 VERITY JOHN 480,000.00 1 3,648.35 480,000.00 79.4
ML167 161488523 OHDE DALE KENT 400,000.00 1 3,040.29 400,000.00 80.0
ML167 161489950 GIBSON GREGORY W 86,100.00 5 706.76 86,100.00 70.0
---------------------------------------------------------- -----------------------------------------
32 Sale Total 3,769,520.00 34,046.50 3,769,520.00 79.2
<CAPTION>
Next Current Property
Adjustment Mortgage Value at Owner
Sale ID Account Date Rate Origination Occupied
- ------------------------------------------------------------------------------
<S> <C> <C> <C> <C>
ML167 161410113 05/01/99 13.125 140,700.00 Y
ML167 161427158 06/01/99 11.125 40,000.00 Y
ML167 161457254 06/01/99 11.625 308,000.00 Y
ML167 161458997 06/01/99 12.250 89,900.00 Y
ML167 161464078 12/01/97 11.250 145,000.00 Y
ML167 161468186 12/01/97 9.875 102,000.00 Y
ML167 161471149 06/01/99 12.250 65,000.00 Y
ML167 161471867 06/01/99 12.375 66,000.00 Y
ML167 161472774 06/01/99 12.750 141,000.00 Y
ML167 161473020 05/01/99 12.250 80,000.00 Y
ML167 161473541 06/01/99 12.875 48,000.00 Y
ML167 161475801 06/01/99 10.000 124,000.00 Y
ML167 161475975 06/01/99 11.375 90,000.00 N
ML167 161476130 12/01/97 10.375 260,000.00 Y
ML167 161477179 06/01/99 10.500 230,000.00 Y
ML167 161477344 06/01/99 11.000 159,950.00 Y
ML167 161479647 06/01/99 10.125 109,000.00 Y
ML167 161479829 06/01/99 11.000 175,000.00 Y
ML167 161480926 06/01/99 9.500 122,000.00 N
ML167 161481361 06/01/99 9.625 157,000.00 Y
ML167 161482302 12/01/97 11.250 82,500.00 Y
ML167 161483383 06/01/99 10.500 54,000.00 Y
ML167 161484449 06/01/99 10.500 124,000.00 Y
ML167 161484571 06/01/99 12.250 57,000.00 Y
ML167 161485420 06/01/99 9.750 134,000.00 Y
ML167 161486444 06/01/99 10.500 76,000.00 Y
ML167 161486493 06/01/99 8.750 72,000.00 N
ML167 161487731 06/01/99 10.500 125,000.00 Y
ML167 161488192 06/01/99 11.625 188,000.00 Y
ML167 161488390 12/01/97 8.375 604,000.00 Y
ML167 161488523 12/01/97 8.375 500,000.00 Y
ML167 161489950 12/01/97 9.225 123,000.00 N
------------ --------------------------
32 10.323 4,792,050.00
</TABLE>
<PAGE>
Page 7 6/24/97
ALLIANCE FUNDING COMPANY
A DIVISION OF SUPERIOR BANK FSB
SALE SCHEDULE B
1997-2 CLASS 2 - INITIAL POOL OF ADJUSTABLE RATE MORTGAGES - SETTLEMENT 6/25/97
<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
- ----------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C>
MLC165 180011538 SLATTERY MICHAEL 101,700.00 1 939.81 101,499.78 85.8
MLC165 180034415 WALKER RICHARD 24,000.00 1 228.56 23,956.40 80.0
MLC165 180037947 RANSOM LILLIE 48,000.00 1 373.34 47,856.25 85.7
MLC165 180043846 BURNS PATRICK 142,000.00 1 1,488.01 141,803.89 59.9
MLC165 180046187 TIGRERO SIXTO 219,000.00 1 1,982.84 218,637.72 84.8
MLC165 180046278 NAPPO ANTONIO 41,400.00 1 333.11 41,285.24 90.0
MLC165 180050353 RUDOW ANTHONY 56,610.00 1 481.18 56,500.20 90.0
MLC165 180052946 HALIM ANTHONY K 204,300.00 1 1,811.78 203,943.52 90.0
MLC165 180053415 BERGER KARLA F 65,500.00 1 623.77 65,405.30 52.0
MLC165 180054835 HOUSER LINDA 74,790.00 1 656.34 74,655.98 90.0
MLC165 180057242 JOSIE CHRISTINE 58,500.00 5 539.50 58,407.79 90.0
MLC165 180064685 HOLTHAUS PAMELA 208,000.00 1 2,199.74 207,834.09 80.0
MLC165 180065096 JUNEAU MICHAEL J 149,600.00 1 1,424.67 149,383.69 85.0
MLC165 180066581 SOSA JUAN A 74,159.00 1 623.57 74,027.53 70.6
MLC165 180067555 VAN SICKLE DALE W 98,300.00 1 973.46 98,204.84 79.9
MLC165 180069908 PRUETT JEFFREY S 57,600.00 1 489.59 57,515.74 80.0
MLC165 180070484 MAGUIRE MARY M 85,500.00 1 726.74 85,291.89 90.0
MLC165 180070492 DROR CATHERINE G 109,650.00 1 1,044.22 109,491.47 85.0
MLC165 180073314 RUSCHAK ELIAS DOUGLAS JR 30,000.00 1 285.70 29,967.60 55.5
MLC165 180079006 VOLOSIN JAMES 104,800.00 1 871.67 104,640.00 80.0
MLC165 180085045 GIARDINA JENNIFER L 289,000.00 1 2,833.03 288,276.63 85.0
MLC165 180086126 MCCALLUM ANNMARIE B 118,300.00 1 1,126.60 118,172.29 70.0
MLC165 180094070 LANDE TOM GRIEG 108,900.00 1 1,057.70 108,788.67 84.9
MLC165 180096786 BROOKS RICKY G 118,000.00 1 949.45 117,805.20 87.4
MLC165 180099475 BREMER STEVEN J 53,975.00 1 493.73 53,910.08 85.0
MLC165 180105645 BACKOS CATHERINE 220,000.00 1 2,053.66 219,917.17 63.2
MLC165 180107070 HILL SYNDIA D 100,000.00 1 804.62 99,945.38 57.1
MLC165 180107500 BLOCK RICHARD H 548,600.00 1 4,865.11 548,125.41 89.4
MLC165 180110512 NULPH LARRY A 79,780.00 1 722.33 79,747.43 75.9
MLC165 180110934 ARGENZIANO NEIL A 107,950.00 1 997.56 107,866.13 85.0
MLC165 180112252 THOMAS RUSSELL ALLEN 52,000.00 1 451.54 51,976.38 65.0
MLC165 180120818 JONES JOSEPHINE M 35,575.00 1 390.06 35,575.00 80.8
MLC165 180126351 HANNON CHRISTINE T 60,000.00 3 548.84 59,976.16 80.0
MLC165 180128100 NAPOLITANO RICHARD J 94,770.00 1 965.71 94,713.96 84.9
MLC165 180128621 SCAVONE PHILLIP 38,000.00 1 387.22 37,988.82 80.0
MLC165 180132995 STANCU MIRCEA D 51,000.00 4 505.05 51,000.00 85.0
MLC165 180135121 NUZZO PASQUALINA DI 112,500.00 4 1,029.08 112,455.30 90.0
MLC165 180136772 BEDELL PATRICIA E 220,500.00 1 2,058.33 220,500.00 90.0
MLC165 180137051 HALLAWAY BRENDA COMFORT 76,755.00 1 631.44 76,715.21 85.0
MLC165 180141004 ALIAGA AUGUSTO 150,875.00 4 1,522.95 150,875.00 85.0
MLC165 180145336 STAPLE GEMLYN 230,000.00 1 2,365.81 229,934.19 73.1
MLC165 180147498 GARDNER CURTIS L 77,000.00 4 612.65 76,956.83 70.0
MLC165 180148280 HOWELL CARLTON 96,000.00 1 815.99 96,000.00 80.0
MLC165 180148538 BANKS ADOLPHUS 176,250.00 1 1,546.72 176,172.03 75.0
MLC165 180151565 OWLER WILLIAM G 101,000.00 1 942.82 101,000.00 89.3
MLC165 180151938 LEONARD MATTHEW J 60,500.00 1 503.21 60,500.00 69.1
MLC165 180153413 GOODWYN EUNICE 129,600.00 1 1,358.07 129,564.93 80.0
MLC165 180153512 HARE ROBERT 124,900.00 1 1,236.88 124,900.00 78.1
MLC165 180159089 BUONO AMY 74,400.00 1 565.49 74,400.00 80.0
MLC165 180161515 CIAMMETTI DONNA A 127,000.00 1 1,067.88 127,000.00 84.6
MLC165 180161572 SANDERS STEVE 55,250.00 1 531.38 55,230.83 85.0
MLC165 180162018 SCHLEIS DAVID W 81,000.00 1 903.94 81,000.00 77.8
MLC165 180162992 BRYCHIK JANE F 55,000.00 1 437.60 55,000.00 72.3
MLC165 180163313 DRESHER STEVEN A 98,000.00 1 850.98 98,000.00 70.0
MLC165 180166407 SULLIVAN LINDA ANN 95,000.00 1 940.78 95,000.00 64.6
MLC165 180166951 MORO ROBERT T 234,000.00 2 2,031.93 233,893.70 75.9
MLC165 180170292 BROWN SHARON L 169,600.00 1 1,679.53 169,545.80 80.0
MLC165 180170672 NGUYEN PHONG 62,100.00 1 539.24 62,100.00 90.0
MLC165 180172447 WILDMAN VALENTINE 140,100.00 1 1,387.40 140,100.00 80.9
<CAPTION>
Next Current Property
Adjustment Mortgage Value at Owner
Sale ID Account Date Rate Origination Occupied
- ------------------------------------------------------------------------------
<S> <C> <C> <C> <C>
MLC165 180011538 12/01/98 10.625 118,450.00 Y
MLC165 180034415 12/01/97 11.000 30,000.00 Y
MLC165 180037947 12/01/97 8.625 56,000.00 Y
MLC165 180043846 01/01/99 12.250 237,000.00 Y
MLC165 180046187 07/01/97 10.375 258,000.00 Y
MLC165 180046278 01/01/99 9.000 46,000.00 Y
MLC165 180050353 01/01/99 9.625 62,900.00 Y
MLC165 180052946 01/01/99 10.125 227,000.00 Y
MLC165 180053415 01/01/99 11.000 125,900.00 Y
MLC165 180054835 01/01/99 10.000 83,100.00 Y
MLC165 180057242 01/01/99 10.600 65,000.00 Y
MLC165 180064685 02/01/99 12.375 260,000.00 Y
MLC165 180065096 02/01/99 11.000 176,000.00 Y
MLC165 180066581 02/01/99 9.500 104,900.00 Y
MLC165 180067555 02/01/99 11.500 122,900.00 Y
MLC165 180069908 02/01/99 9.625 72,000.00 Y
MLC165 180070484 12/01/97 9.625 95,000.00 Y
MLC165 180070492 02/01/99 11.000 129,000.00 Y
MLC165 180073314 02/01/99 11.000 54,000.00 Y
MLC165 180079006 02/01/99 9.375 131,000.00 Y
MLC165 180085045 11/01/97 11.375 340,000.00 Y
MLC165 180086126 02/01/99 11.000 169,000.00 Y
MLC165 180094070 02/01/99 11.250 128,150.00 Y
MLC165 180096786 02/01/99 9.000 135,000.00 Y
MLC165 180099475 02/01/99 10.500 63,500.00 Y
MLC165 180105645 04/01/99 10.750 348,000.00 Y
MLC165 180107070 04/01/99 9.000 175,000.00 Y
MLC165 180107500 09/01/97 10.125 613,500.00 Y
MLC165 180110512 04/01/99 10.375 105,000.00 Y
MLC165 180110934 09/01/97 10.625 127,000.00 Y
MLC165 180112252 05/01/99 9.875 80,000.00 Y
MLC165 180120818 05/01/99 12.875 44,000.00 Y
MLC165 180126351 05/01/99 10.500 75,000.00 Y
MLC165 180128100 03/01/99 11.875 111,500.00 Y
MLC165 180128621 05/01/99 11.875 47,500.00 Y
MLC165 180132995 11/01/97 11.500 60,000.00 Y
MLC165 180135121 04/01/99 10.500 125,000.00 Y
MLC165 180136772 05/01/99 10.750 245,000.00 Y
MLC165 180137051 04/01/99 9.250 90,300.00 Y
MLC165 180141004 05/01/99 11.750 177,500.00 Y
MLC165 180145336 04/01/99 12.000 314,500.00 Y
MLC165 180147498 11/01/97 8.875 110,000.00 N
MLC165 180148280 05/01/99 9.625 120,000.00 Y
MLC165 180148538 11/01/97 10.000 235,000.00 Y
MLC165 180151565 05/01/99 10.750 113,000.00 Y
MLC165 180151938 05/01/99 9.375 87,500.00 Y
MLC165 180153413 05/01/99 12.250 162,000.00 Y
MLC165 180153512 11/01/97 11.500 159,900.00 Y
MLC165 180159089 11/01/97 8.375 93,000.00 Y
MLC165 180161515 05/01/99 9.500 150,000.00 Y
MLC165 180161572 05/01/99 11.125 65,000.00 Y
MLC165 180162018 05/01/99 13.125 104,000.00 Y
MLC165 180162992 05/01/99 8.875 76,000.00 Y
MLC165 180163313 11/01/97 9.875 140,000.00 Y
MLC165 180166407 11/01/97 11.500 147,000.00 Y
MLC165 180166951 05/01/99 9.875 308,022.00 Y
MLC165 180170292 11/01/97 11.500 212,000.00 Y
MLC165 180170672 05/01/99 9.875 69,000.00 Y
MLC165 180172447 11/01/97 11.500 173,000.00 Y
</TABLE>
<PAGE>
Page 8 6/24/97
ALLIANCE FUNDING COMPANY
A DIVISION OF SUPERIOR BANK FSB
SALE SCHEDULE B
1997-2 CLASS 2 - INITIAL POOL OF ADJUSTABLE RATE MORTGAGES - SETTLEMENT 6/25/97
<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
- ----------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C>
MLC165 180172512 WANZER SYLVIA M 95,000.00 1 824.93 95,000.00 70.8
MLC165 180174864 SHEPARD MELVIN 45,600.00 1 404.39 45,580.36 80.0
MLC165 180176208 MARRETTA SUSAN 210,000.00 3 1,999.88 210,000.00 75.0
MLC165 180179715 COX JAMES N 102,000.00 1 739.57 101,929.81 85.0
MLC165 180186108 UMHOEFER LEONARD J JR 81,600.00 1 731.22 81,600.00 80.0
MLC165 180186157 RYAN THOMAS N 120,000.00 1 1,075.32 120,000.00 79.4
MLC165 180187197 RIDER JOSEPH W 81,000.00 1 703.36 81,000.00 90.0
MLC165 180188013 WUJCIK JEFFREY A 12,000.00 1 104.20 12,000.00 13.7
MLC165 800110884 HAWKINS STANLEY J 97,500.00 1 1,116.78 97,500.00 65.0
MLC165 800117830 BEGANE CHERYL 133,600.00 3 1,222.09 133,546.91 80.0
MLC165 800122483 MORRONE THOMAS J 119,000.00 1 925.57 119,000.00 85.0
MLC165 800124133 IENGO DOMINICK 161,000.00 1 1,412.89 161,000.00 70.0
MLC165 800124653 HIRD WILLIAM H 69,300.00 1 633.91 69,300.00 90.0
MLC165 800128183 TAUBE RICHARD B 180,000.00 1 1,834.20 180,000.00 80.0
MLC165 800132342 BROOKS JAIMEE 124,000.00 1 1,323.40 123,968.27 80.0
MLC165 800133290 ALFELOR MD FILIPINAS R 450,000.00 3 3,783.84 450,000.00 73.1
MLC165 800133548 BOWMAN SCOTT H 96,300.00 1 889.91 96,300.00 85.9
MLC165 800137457 MORRA ERNEST A 238,000.00 1 2,448.10 238,000.00 85.0
MLC165 800146060 KUNDER PATSY W 88,200.00 1 774.02 88,200.00 85.6
MLC165 800147670 BONNER BRIAN 62,050.00 1 585.07 62,027.27 85.0
MLC165 800148348 SQUINDO RICHARD 130,000.00 1 1,069.48 130,000.00 72.2
MLC165 800149015 STEWART ROSEMARIE 170,000.00 3 1,699.73 170,000.00 82.9
MLC165 800149320 LEWIS JAMES 110,000.00 3 1,216.82 110,000.00 60.7
MLC165 800151029 MCGHIE BRETT 115,000.00 1 1,073.50 115,000.00 71.8
MLC165 800152142 TROPASSO DEBRA V 44,540.00 1 458.14 44,527.26 80.9
MLC165 800153306 DOLAN PAUL J 58,650.00 1 564.08 58,650.00 85.0
MLC165 800158230 DEGENHARDT HERBERT 133,000.00 4 1,204.19 133,000.00 73.8
MLC165 800159881 DENNY PAUL F 103,080.00 1 1,020.79 103,047.06 85.9
MLC165 800160624 KUNTZ DOROTHY 72,000.00 1 611.99 72,000.00 90.0
MLC165 800161556 STALEY BOB P 52,200.00 1 458.09 52,200.00 90.0
MLC165 800162117 LEVINE ALAN 196,000.00 1 1,903.67 196,000.00 80.0
MLC165 800164303 GARNER RONALD R 95,850.00 1 841.15 95,850.00 90.0
MLC165 800164782 EDWARDS ALICE 63,000.00 4 617.88 63,000.00 70.0
MLC165 800165466 MORATORI JANET 108,800.00 1 954.80 108,800.00 85.0
MLC165 800169823 DANZA JOSEPH 54,000.00 1 478.88 54,000.00 58.0
MLC165 800170193 MATHIS LILLIE MAE 47,600.00 1 471.38 47,600.00 85.0
MLC165 800170912 HEBB STACY A 99,000.00 1 877.95 99,000.00 90.0
MLC165 800171084 STEVENSON RICHARD J 83,300.00 3 816.98 83,300.00 85.0
MLC165 800171969 JAMES VIRGINIA C 216,000.00 3 1,955.68 216,000.00 88.3
MLC165 800172215 RICE RANDY R 178,925.00 1 1,471.97 178,925.00 85.0
MLC165 800172256 MARRERO BEL 148,000.00 3 1,204.18 148,000.00 80.0
MLC165 800173783 KOCH DAVID 198,000.00 1 1,719.33 197,910.05 90.0
MLC165 800174666 VALENTIN CYNTHIA M 62,910.00 1 563.74 62,910.00 90.0
MLC165 800175960 NISBET JAMES R 125,000.00 1 1,096.96 125,000.00 73.5
MLC165 800176588 CRUZATE MARIO S 107,100.00 1 1,019.94 107,100.00 85.0
MLC165 800177305 FABRIZIO ALBERT 59,310.00 1 553.65 59,310.00 90.0
MLC165 800179327 LEE BENJAMIN S 206,250.00 1 2,062.17 206,250.00 75.0
MLC165 800183022 DELUZIO CHARLES T 132,152.00 8 1,027.87 132,074.58 80.0
MLC165 800183477 BRASSART JULIAN LAMAR 84,000.00 1 698.67 84,000.00 80.0
MLC165 800184269 PACE ROBERT L 142,542.00 3 1,562.88 142,542.00 80.9
MLC165 800184897 ROBERTSON ROBERT L 52,500.00 3 417.71 52,500.00 70.0
MLC165 800185100 ROBERTSON ROBERT L 52,000.00 1 423.09 52,000.00 80.0
MLC165 800185191 RABY RICK 279,000.00 1 2,683.37 279,000.00 87.1
MLC165 800186736 FREEMAN CHARLES 92,700.00 1 865.34 92,700.00 69.1
MLC165 800187130 CLARK JOYCE A 38,000.00 1 358.30 38,000.00 55.8
MLC165 800188161 LADEBU BRIAN F 137,683.00 1 1,233.78 137,683.00 80.9
MLC165 800188427 PRIOLEAU LARRY 44,200.00 7 430.21 44,200.00 85.0
MLC165 800189177 JOHNSON BILLY R 261,000.00 1 2,170.87 261,000.00 90.0
MLC165 800189805 BAIN MARTHA S 41,400.00 1 386.46 41,400.00 90.0
<CAPTION>
Next Current Property
Adjustment Mortgage Value at Owner
Sale ID Account Date Rate Origination Occupied
- ------------------------------------------------------------------------------
<S> <C> <C> <C> <C>
MLC165 180172512 11/01/97 9.875 134,000.00 Y
MLC165 180174864 05/01/99 10.125 57,000.00 Y
MLC165 180176208 05/01/99 11.000 280,000.00 Y
MLC165 180179715 11/01/97 7.875 120,000.00 Y
MLC165 180186108 05/01/99 10.250 102,000.00 Y
MLC165 180186157 11/01/97 10.250 151,000.00 Y
MLC165 180187197 11/01/97 9.875 90,000.00 Y
MLC165 180188013 05/01/99 9.875 87,000.00 Y
MLC165 800110884 05/01/99 13.500 150,000.00 Y
MLC165 800117830 04/01/99 10.500 167,000.00 Y
MLC165 800122483 05/01/99 8.625 140,000.00 Y
MLC165 800124133 11/01/97 10.000 230,000.00 N
MLC165 800124653 05/01/99 10.500 77,000.00 Y
MLC165 800128183 11/01/97 11.875 225,000.00 Y
MLC165 800132342 04/01/99 12.500 155,000.00 Y
MLC165 800133290 11/01/97 9.500 615,000.00 Y
MLC165 800133548 05/01/99 10.625 112,000.00 Y
MLC165 800137457 06/01/99 12.000 280,000.00 Y
MLC165 800146060 06/01/99 10.000 103,000.00 Y
MLC165 800147670 10/01/97 10.875 73,000.00 Y
MLC165 800148348 05/01/99 9.250 180,000.00 Y
MLC165 800149015 05/01/99 11.625 205,000.00 Y
MLC165 800149320 05/01/99 13.000 181,000.00 Y
MLC165 800151029 06/01/99 10.750 160,000.00 Y
MLC165 800152142 05/01/99 12.000 55,000.00 Y
MLC165 800153306 06/01/99 11.125 69,000.00 Y
MLC165 800158230 05/01/99 10.375 180,000.00 Y
MLC165 800159881 05/01/99 11.500 120,000.00 Y
MLC165 800160624 12/01/97 9.625 80,000.00 Y
MLC165 800161556 05/01/99 10.000 58,000.00 Y
MLC165 800162117 11/01/97 11.250 245,000.00 Y
MLC165 800164303 05/01/99 10.000 106,500.00 Y
MLC165 800164782 05/01/99 11.375 90,000.00 N
MLC165 800165466 06/01/99 10.000 128,000.00 Y
MLC165 800169823 06/01/99 10.125 93,042.00 Y
MLC165 800170193 05/01/99 11.500 56,000.00 Y
MLC165 800170912 05/01/99 10.125 110,000.00 Y
MLC165 800171084 05/01/99 11.375 98,000.00 Y
MLC165 800171969 11/01/97 10.375 244,500.00 Y
MLC165 800172215 05/01/99 9.250 210,500.00 Y
MLC165 800172256 11/01/97 9.125 185,000.00 Y
MLC165 800173783 11/01/97 9.875 220,000.00 Y
MLC165 800174666 05/01/99 10.250 69,900.00 Y
MLC165 800175960 05/01/99 10.000 170,000.00 Y
MLC165 800176588 05/01/99 11.000 126,000.00 Y
MLC165 800177305 06/01/99 10.750 65,900.00 Y
MLC165 800179327 05/01/99 11.625 275,000.00 Y
MLC165 800183022 11/01/97 8.625 165,190.00 Y
MLC165 800183477 11/01/97 9.375 105,000.00 Y
MLC165 800184269 06/01/99 12.875 176,000.00 Y
MLC165 800184897 12/01/97 8.875 75,000.00 N
MLC165 800185100 12/01/97 9.125 65,000.00 Y
MLC165 800185191 05/01/99 11.125 320,000.00 Y
MLC165 800186736 05/01/99 10.750 134,000.00 Y
MLC165 800187130 06/01/99 10.875 68,000.00 Y
MLC165 800188161 06/01/99 10.250 170,000.00 Y
MLC165 800188427 06/01/99 10.125 52,000.00 Y
MLC165 800189177 11/01/97 9.375 290,000.00 Y
MLC165 800189805 05/01/99 10.750 46,000.00 Y
</TABLE>
<PAGE>
Page 9 6/24/97
ALLIANCE FUNDING COMPANY
A DIVISION OF SUPERIOR BANK FSB
SALE SCHEDULE B
1997-2 CLASS 2 - INITIAL POOL OF ADJUSTABLE RATE MORTGAGES - SETTLEMENT 6/25/97
<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
- ----------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C>
MLC165 800190696 BALDERA JOSE 204,000.00 3 1,981.37 204,000.00 85.0
MLC165 800191561 THORNE MARGARET M 63,000.00 1 564.54 63,000.00 90.0
MLC165 800191736 TURNER JAMES 200,000.00 1 1,961.53 200,000.00 71.4
MLC165 800195174 HORWEEN DOUGLAS O 99,000.00 1 905.59 99,000.00 90.0
MLC165 800197527 CYR ANGELA M 37,000.00 1 348.87 37,000.00 38.9
---------------------------------------------------------- -----------------------------------------
123 Sale Total 14,340,431.00 132,350.13 14,334,369.02 80.3
<CAPTION>
Next Current Property
Adjustment Mortgage Value at Owner
Sale ID Account Date Rate Origination Occupied
- ------------------------------------------------------------------------------
<S> <C> <C> <C> <C>
MLC165 800190696 05/01/99 11.250 240,000.00 Y
MLC165 800191561 06/01/99 10.250 70,000.00 Y
MLC165 800191736 12/01/97 11.375 280,000.00 Y
MLC165 800195174 06/01/99 10.500 110,000.00 Y
MLC165 800197527 06/01/99 10.875 95,000.00 Y
------------ --------------------------
123 10.594 18,143,554.00
</TABLE>
<PAGE>
Page 10 6/24/97
ALLIANCE FUNDING COMPANY
A DIVISION OF SUPERIOR BANK FSB
SALE SCHEDULE B
1997-2 CLASS 2 - INITIAL POOL OF ADJUSTABLE RATE MORTGAGES - SETTLEMENT 6/25/97
<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
- ----------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C>
MLC168 180032682 PERDUE ROBERT A JR 116,000.00 1 964.83 115,762.92 80.0
MLC168 180045650 OSEI GODFREY 220,500.00 1 2,037.64 220,065.90 90.0
MLC168 180051328 SMITH VINCENT E 42,400.00 1 360.40 42,260.53 43.2
MLC168 180053985 PIEDRA BARBARA A 52,800.00 1 522.87 52,731.55 80.0
MLC168 180072704 SHEFFY DONALD H 126,000.00 1 1,070.99 125,755.62 79.2
MLC168 180091944 BROWN KEVIN C 212,500.00 1 1,728.97 212,158.17 89.6
MLC168 180129215 CERVERIZZO PIETRINA 260,000.00 3 2,378.32 259,896.68 80.0
MLC168 180131476 CHUNG IN SOOK 242,250.00 3 2,375.90 241,935.29 85.0
MLC168 180149932 MARROQUIN GUSTAVO 130,500.00 1 1,121.20 130,439.11 84.1
MLC168 180158545 MOORE PHILLIP G 445,500.00 5 4,108.51 445,500.00 87.3
MLC168 800091381 SWIRE THOMAS R 51,730.00 1 522.17 51,730.00 70.0
MLC168 800107088 ANDERSON IAN M 72,000.00 1 824.70 71,985.30 80.0
MLC168 800107708 HOFFMAN GREG 128,000.00 1 1,099.72 128,000.00 80.0
MLC168 800108573 BIERNACKI RICHARD 145,000.00 1 1,232.48 145,000.00 47.0
MLC168 800109365 LAROSA MICHAEL J 18,400.00 1 198.16 18,395.42 80.0
MLC168 800109522 FISCELLA NICHOLAS 109,200.00 1 1,019.36 109,158.89 80.8
MLC168 800121857 COLLINS ALLISON 55,200.00 1 643.14 55,200.00 82.8
MLC168 800122285 TAMBUSCIO ROBERT 151,600.00 1 1,316.42 151,531.12 89.9
MLC168 800123713 CRAIG GINO M 55,260.00 1 495.19 55,260.00 90.0
MLC168 800124836 DIBONA GERARD 156,825.00 1 1,275.98 156,825.00 85.0
MLC168 800125262 DEPIETRO KENNETH 102,000.00 1 848.38 102,000.00 72.8
MLC168 800127003 KULAS THOMAS J 104,000.00 1 1,120.04 104,000.00 65.0
MLC168 800138406 GANTER ROBERT G 215,000.00 1 1,788.26 215,000.00 61.4
MLC168 800139446 WILDER GWENDOLYN L 76,000.00 1 702.32 76,000.00 80.0
MLC168 800140360 CITTADINI CHRISTOPHE 86,250.00 1 829.54 86,220.07 75.0
MLC168 800142655 LIGHT DAVID 274,300.00 1 2,847.90 274,300.00 65.0
MLC168 800145484 ZARABI ISAAC 249,900.00 1 2,309.32 249,900.00 67.3
MLC168 800146219 CARLETTA CARLA 92,650.00 1 917.50 92,650.00 85.0
MLC168 800147696 OLEN KENDRA M 58,500.00 1 546.09 58,500.00 90.0
MLC168 800149437 LAFEVER BARRY G. 120,000.00 1 1,131.47 120,000.00 88.8
MLC168 800150062 MARESCO RALPH J 268,000.00 1 2,526.95 267,901.80 80.0
MLC168 800150732 THOMAS ALLAN L 95,000.00 1 904.71 95,000.00 86.3
MLC168 800150773 TANTLINGER TERRY ALAN 11,000.00 1 105.80 11,000.00 26.8
MLC168 800151086 CURTIS ALAN L. 248,000.00 1 2,107.97 248,000.00 50.8
MLC168 800151110 MAZUR JANINE C 133,200.00 1 1,230.90 133,200.00 85.0
MLC168 800154981 LURITO JOSEPH 94,500.00 1 891.03 94,500.00 89.9
MLC168 800155418 SANDS JAMES W 81,000.00 1 718.33 81,000.00 75.0
MLC168 800158453 DAWKINS DESMOND 110,000.00 1 934.99 110,000.00 62.8
MLC168 800158941 TOMA AZIZ 119,200.00 1 1,169.07 119,200.00 80.0
MLC168 800159980 NASH JOHN Q 86,000.00 1 951.34 85,980.34 58.9
MLC168 800162828 WHITFIELD TIMOTHY EARL 56,700.00 1 518.66 56,700.00 90.0
MLC168 800163792 SARRANTONIO JOSEPH 131,750.00 1 1,048.26 131,750.00 85.0
MLC168 800163818 FOURNIER ROBERT P 25,000.00 3 214.79 25,000.00 44.2
MLC168 800164451 HICKAM KEVIN M. 242,250.00 1 2,352.88 242,250.00 85.0
MLC168 800166639 COHEN MARTIN 40,000.00 1 365.90 40,000.00 68.9
MLC168 800167009 WELMAN ERIC 148,800.00 1 1,544.91 148,800.00 80.0
MLC168 800168791 HOOPENGARDNE ALVA 113,750.00 1 1,280.57 113,750.00 65.0
MLC168 800170177 ALI A JAMEELAH 40,500.00 1 344.25 40,500.00 90.0
MLC168 800170334 MOBLEY DANIEL C 47,625.00 7 491.58 47,625.00 75.0
MLC168 800170565 FORBES DAVID E 73,800.00 1 716.79 73,800.00 90.0
MLC168 800171258 OXENFORD DAVID A 71,400.00 1 555.34 71,400.00 85.0
MLC168 800172066 DONLEY FAITH A 126,000.00 1 1,176.19 126,000.00 90.0
MLC168 800172363 GROVES DAVID 84,600.00 3 789.72 84,600.00 90.0
MLC168 800172579 SPERRUGGIA ANTHONY E 138,000.00 3 1,406.22 138,000.00 79.7
MLC168 800175150 SALDI GARY J. 57,715.00 1 560.56 57,695.52 85.0
MLC168 800176489 GIRARDEY CAROL HENSON 183,400.00 1 1,677.63 183,400.00 61.1
MLC168 800176505 LUCKE CYNTHIA E 64,600.00 1 584.89 64,573.63 85.0
MLC168 800179228 BAILEY RUSSELL F 222,300.00 1 1,768.72 222,300.00 90.0
MLC168 800179871 O'NEAL RANDI R 76,040.00 1 660.29 76,040.00 80.9
<CAPTION>
Next Current Property
Adjustment Mortgage Value at Owner
Sale ID Account Date Rate Origination Occupied
- --------------------------------------------------------------------------------
<S> <C> <C> <C> <C>
MLC168 180032682 01/01/99 9.375 145,000.00 Y
MLC168 180045650 12/01/98 10.625 245,000.00 Y
MLC168 180051328 12/01/97 9.625 98,000.00 Y
MLC168 180053985 01/01/99 11.500 66,000.00 Y
MLC168 180072704 01/01/99 9.625 159,000.00 Y
MLC168 180091944 08/01/97 9.125 237,000.00 Y
MLC168 180129215 04/01/99 10.500 325,000.00 Y
MLC168 180131476 06/01/98 11.375 285,000.00 Y
MLC168 180149932 04/01/99 9.750 155,000.00 Y
MLC168 180158545 05/01/99 10.600 510,000.00 Y
MLC168 800091381 03/01/99 11.750 73,900.00 Y
MLC168 800107088 05/01/99 13.500 90,000.00 Y
MLC168 800107708 05/01/99 9.750 160,000.00 Y
MLC168 800108573 05/01/99 9.625 308,000.00 Y
MLC168 800109365 04/01/99 12.625 23,000.00 Y
MLC168 800109522 10/01/97 10.750 135,000.00 Y
MLC168 800121857 05/01/99 13.750 66,656.00 Y
MLC168 800122285 10/01/97 9.875 168,500.00 Y
MLC168 800123713 05/01/99 10.250 61,400.00 Y
MLC168 800124836 12/01/97 9.125 184,500.00 Y
MLC168 800125262 11/01/97 9.375 140,000.00 Y
MLC168 800127003 06/01/99 12.625 160,000.00 Y
MLC168 800138406 05/01/99 9.375 350,000.00 Y
MLC168 800139446 05/01/99 10.625 95,000.00 Y
MLC168 800140360 04/01/99 11.125 115,000.00 Y
MLC168 800142655 11/01/97 12.125 422,000.00 Y
MLC168 800145484 11/01/97 10.625 371,000.00 N
MLC168 800146219 05/01/99 11.500 109,000.00 Y
MLC168 800147696 05/01/99 10.750 65,000.00 Y
MLC168 800149437 06/01/99 10.875 135,000.00 Y
MLC168 800150062 10/01/97 10.875 335,000.00 Y
MLC168 800150732 05/01/99 11.000 110,000.00 Y
MLC168 800150773 05/01/99 11.125 41,000.00 Y
MLC168 800151086 05/01/99 9.625 488,000.00 Y
MLC168 800151110 12/01/97 10.625 156,700.00 Y
MLC168 800154981 05/01/99 10.875 105,040.00 Y
MLC168 800155418 06/01/99 10.125 108,000.00 Y
MLC168 800158453 12/01/97 9.625 175,000.00 Y
MLC168 800158941 11/01/97 11.375 149,000.00 Y
MLC168 800159980 04/01/99 13.000 146,000.00 Y
MLC168 800162828 06/01/99 10.500 63,000.00 Y
MLC168 800163792 06/01/99 8.875 155,000.00 Y
MLC168 800163818 05/01/99 9.750 56,500.00 Y
MLC168 800164451 06/01/99 11.250 285,000.00 Y
MLC168 800166639 06/01/99 10.500 58,000.00 Y
MLC168 800167009 12/01/97 12.125 186,000.00 Y
MLC168 800168791 05/01/99 13.250 175,000.00 Y
MLC168 800170177 11/01/97 9.625 45,000.00 Y
MLC168 800170334 05/01/99 11.000 63,500.00 Y
MLC168 800170565 05/01/99 11.250 82,000.00 Y
MLC168 800171258 05/01/99 8.625 84,000.00 Y
MLC168 800172066 05/01/99 10.750 140,000.00 Y
MLC168 800172363 06/01/99 10.750 94,000.00 Y
MLC168 800172579 12/01/97 11.875 173,000.00 Y
MLC168 800175150 05/01/99 11.250 67,900.00 Y
MLC168 800176489 06/01/99 10.500 300,000.00 Y
MLC168 800176505 11/01/97 10.375 76,000.00 Y
MLC168 800179228 11/01/97 8.875 247,000.00 Y
MLC168 800179871 06/01/99 9.875 93,900.00 Y
</TABLE>
<PAGE>
Page 11 6/24/97
ALLIANCE FUNDING COMPANY
A DIVISION OF SUPERIOR BANK FSB
SALE SCHEDULE B
1997-2 CLASS 2 - INITIAL POOL OF ADJUSTABLE RATE MORTGAGES - SETTLEMENT 6/25/97
<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
- ----------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C>
MLC168 800180143 GEIGER JOSEPH J 45,000.00 1 358.04 45,000.00 90.0
MLC168 800182057 LOUDON DAVIS MARIE G 42,000.00 1 460.51 42,000.00 73.6
MLC168 800183287 DRAGONE COLEEN 140,000.00 1 1,320.05 140,000.00 75.6
MLC168 800183311 STORDY DEBORAH 39,600.00 3 343.87 39,600.00 90.0
MLC168 800186033 KIM CHUK Y 289,000.00 3 3,028.42 289,000.00 85.0
MLC168 800186793 COLBURN MICHAEL L 139,500.00 1 1,381.46 139,500.00 90.0
MLC168 800186835 KLEIMAN SEMYON 148,500.00 1 1,316.93 148,500.00 75.0
MLC168 800188898 TOTH RICHARD P 89,250.00 1 734.24 89,250.00 85.0
MLC168 800189169 HOLTZ WILBERT F 25,500.00 1 245.25 25,500.00 85.0
MLC168 800190597 GREENE VERONICA 119,000.00 1 1,011.49 119,000.00 85.0
MLC168 800191249 KRASNER DAVID S 239,910.00 1 2,307.41 239,910.00 85.9
MLC168 800191470 OUDEANS CRAIG T 97,750.00 1 1,043.24 97,750.00 85.0
MLC168 800191694 SEVERANCE JACQUELINE 88,000.00 1 764.15 88,000.00 89.7
MLC168 800191876 WISE DWIGHT W 74,000.00 1 635.77 74,000.00 47.7
MLC168 800192171 STERNER ROBERT E 116,100.00 1 1,062.01 116,100.00 89.3
MLC168 800192528 TURNER MARY ANN 30,000.00 1 257.75 30,000.00 25.0
MLC168 800192635 ANDERSON JACQUELINE L 112,000.00 1 993.24 112,000.00 80.0
MLC168 800193260 STEFANELLI MICHAEL A 155,250.00 1 1,552.25 155,250.00 75.0
MLC168 800193922 ALLEN KATHARINE H 69,600.00 1 604.37 69,600.00 80.0
MLC168 800195091 METZ STEVEN D 72,000.00 3 768.43 72,000.00 80.0
MLC168 800196743 RUSSIN ROSE 50,575.00 1 491.22 50,575.00 85.0
MLC168 800197378 CROOK GARY E 102,000.00 1 1,098.51 102,000.00 72.8
MLC168 800198152 OCASIO MANUEL 76,800.00 3 666.89 76,800.00 80.0
MLC168 800199234 RAVENELL TIMOTHY 44,000.00 7 457.91 44,000.00 80.0
MLC168 800200016 MCGRATH JEFFREY 120,600.00 1 1,103.18 120,600.00 89.3
MLC168 800200586 TUCKER DAVID M 39,600.00 7 467.47 39,600.00 80.0
MLC168 800200842 PROCTOR PERCY JEROME 108,000.00 1 1,152.64 108,000.00 80.0
MLC168 800202491 PRIMIANO JOHN P 157,500.00 1 1,382.17 157,500.00 75.0
MLC168 800203531 OWENS MARK C 60,720.00 4 618.74 60,720.00 80.0
MLC168 800210387 APPLEBY TIMOTHY 55,000.00 1 472.53 55,000.00 33.7
MLC168 800212052 EISENHAUER MICHAEL J 30,400.00 1 275.24 30,400.00 80.0
MLC168 800212524 PORTNOY SHEILA 58,650.00 1 525.56 58,650.00 85.0
MLC168 800212888 LESTER JEFFREY W 120,000.00 1 965.55 120,000.00 80.0
MLC168 800214389 TURNER JOHN P 63,000.00 1 576.29 63,000.00 60.0
MLC168 800217564 BONILLA ROSEMARY 90,320.00 1 734.87 90,320.00 80.0
MLC168 800223208 SUSCA NICOLA 225,000.00 1 1,851.02 224,883.35 75.0
---------------------------------------------------------- -----------------------------------------
95 Sale Total 10,894,520.00 100,965.68 10,892,136.21 78.5
<CAPTION>
Next Current Property
Adjustment Mortgage Value at Owner
Sale ID Account Date Rate Origination Occupied
- ------------------------------------------------------------------------------
<S> <C> <C> <C> <C>
MLC168 800180143 11/01/97 8.875 50,000.00 Y
MLC168 800182057 05/01/99 12.875 57,000.00 Y
MLC168 800183287 06/01/99 10.875 185,000.00 Y
MLC168 800183311 11/01/97 9.875 44,000.00 Y
MLC168 800186033 06/01/99 12.250 340,000.00 Y
MLC168 800186793 05/01/99 11.500 155,000.00 Y
MLC168 800186835 05/01/99 10.125 198,000.00 Y
MLC168 800188898 06/01/99 9.250 105,000.00 Y
MLC168 800189169 06/01/99 11.125 30,000.00 Y
MLC168 800190597 11/01/97 9.625 140,000.00 Y
MLC168 800191249 05/01/99 11.125 279,000.00 Y
MLC168 800191470 05/01/99 12.500 115,000.00 Y
MLC168 800191694 11/01/97 9.875 98,000.00 Y
MLC168 800191876 06/01/99 9.750 155,000.00 Y
MLC168 800192171 06/01/99 10.500 130,000.00 Y
MLC168 800192528 06/01/99 9.750 120,000.00 Y
MLC168 800192635 11/01/97 10.125 139,900.00 Y
MLC168 800193260 06/01/99 11.625 207,000.00 Y
MLC168 800193922 06/01/99 9.875 87,000.00 Y
MLC168 800195091 06/01/99 12.500 90,000.00 Y
MLC168 800196743 06/01/99 11.250 59,500.00 Y
MLC168 800197378 12/01/97 12.625 140,000.00 Y
MLC168 800198152 06/01/99 9.875 96,000.00 Y
MLC168 800199234 06/01/99 11.125 55,000.00 Y
MLC168 800200016 06/01/99 10.500 135,000.00 Y
MLC168 800200586 06/01/99 13.125 49,500.00 Y
MLC168 800200842 06/01/99 12.500 135,000.00 Y
MLC168 800202491 06/01/99 10.000 210,000.00 Y
MLC168 800203531 06/01/99 11.875 75,900.00 Y
MLC168 800210387 06/01/99 9.750 163,000.00 Y
MLC168 800212052 05/01/99 10.375 38,000.00 Y
MLC168 800212524 06/01/99 10.250 69,000.00 Y
MLC168 800212888 06/01/99 9.000 150,000.00 Y
MLC168 800214389 06/01/99 10.500 105,000.00 Y
MLC168 800217564 12/01/97 9.125 112,900.00 Y
MLC168 800223208 04/01/99 9.250 300,000.00 Y
------------ --------------------------
95 10.635 14,335,196.00
</TABLE>
<PAGE>
Page 12 6/24/97
ALLIANCE FUNDING COMPANY
A DIVISION OF SUPERIOR BANK FSB
SALE SCHEDULE B
1997-2 CLASS 2 - INITIAL POOL OF ADJUSTABLE RATE MORTGAGES - SETTLEMENT 6/25/97
<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
- ----------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C>
SB557 161427455 WEAVER TRAVIS 180,000.00 1 1,546.48 180,000.00 73.4
SB557 161434493 APODACA MARY ESTHER 51,150.00 7 567.67 51,099.16 74.9
SB557 161438916 SNIPES LARRY A 31,750.00 7 403.49 31,750.00 50.0
SB557 161450267 CWIK LAWRENCE J 63,000.00 1 599.97 63,000.00 70.0
SB557 161450283 CWIK LAWRENCE J 110,600.00 1 1,053.27 110,600.00 70.0
SB557 161454418 BARRETT GEORGE 40,000.00 1 358.44 40,000.00 80.0
SB557 161454426 SUTTON TIMOTHY 150,000.00 1 1,456.89 149,897.12 74.2
SB557 161454806 TUCKER CONSTANCE E 41,625.00 6 486.26 41,537.65 75.0
SB557 161461587 GLAZER ROBERT 60,000.00 1 577.07 60,000.00 80.0
SB557 161462379 WILLIAMS RUSSELL 41,200.00 1 404.08 41,200.00 74.9
SB557 161462825 HANSEN LIBERTY S 98,000.00 1 933.28 98,000.00 80.0
SB557 161464003 RICCI RON L 178,000.00 1 1,529.30 178,000.00 68.4
SB557 161465224 MCBRIDE NICHOLAS 76,500.00 7 728.53 76,500.00 85.0
SB557 161467998 MCDONALD WILLIAM 412,000.00 1 3,577.60 412,000.00 80.0
SB557 161472485 HANNIBAL PAULA K 71,900.00 1 552.85 71,900.00 78.1
SB557 161474069 SNELL FRANK L 93,500.00 1 752.32 93,500.00 85.0
SB557 161475157 NIKITIN IGOR A 108,750.00 1 865.26 108,750.00 75.0
SB557 161479977 MCKENNA GERALD 280,000.00 1 2,799.55 280,000.00 77.7
SB557 161480074 DUCKETT D SCOTT 90,450.00 1 785.42 90,450.00 90.0
SB557 161480603 FORSYTHE MARVIN A 168,000.00 1 1,809.31 168,000.00 80.0
SB557 161482096 COON ROSE A 64,800.00 1 592.75 64,800.00 90.0
SB557 161483722 PARSONS HERBERT E III 154,400.00 1 1,455.82 154,400.00 80.0
SB557 161483839 YASUMURA THOMAS 211,500.00 1 1,570.38 211,500.00 90.0
SB557 161484894 CRIM LISA 81,000.00 1 740.94 81,000.00 90.0
SB557 161486170 EIDE ERIC A 108,000.00 1 927.89 108,000.00 90.0
SB557 161487616 WEBSTER CHRISTINA 59,500.00 1 473.41 59,500.00 85.0
SB557 161488648 COOK RICHARD L 89,675.00 1 795.26 89,675.00 85.0
SB557 161490099 BABLER ROGER A 64,000.00 1 555.74 64,000.00 80.0
SB557 161490354 WHITE RANDOLPH JR 68,000.00 1 641.17 68,000.00 85.0
---------------------------------------------------------- -----------------------------------------
29 Sale Total 3,247,300.00 29,540.40 3,247,058.93 79.6
<CAPTION>
Next Current Property
Adjustment Mortgage Value at Owner
Sale ID Account Date Rate Origination Occupied
- ------------------------------------------------------------------------------
<S> <C> <C> <C> <C>
SB557 161427455 06/01/99 9.750 245,000.00 Y
SB557 161434493 04/01/99 12.125 68,256.00 Y
SB557 161438916 05/01/99 14.375 63,500.00 Y
SB557 161450267 05/01/99 11.000 90,000.00 N
SB557 161450283 05/01/99 11.000 158,000.00 Y
SB557 161454418 05/01/99 10.250 50,000.00 Y
SB557 161454426 04/01/99 11.250 202,000.00 Y
SB557 161454806 05/01/99 11.500 55,500.00 Y
SB557 161461587 06/01/99 11.125 75,000.00 Y
SB557 161462379 06/01/99 11.375 55,000.00 Y
SB557 161462825 05/01/99 11.000 122,500.00 Y
SB557 161464003 12/01/97 9.750 260,000.00 Y
SB557 161465224 06/01/99 11.000 90,000.00 Y
SB557 161467998 12/01/97 9.875 515,000.00 Y
SB557 161472485 06/01/99 8.500 92,000.00 Y
SB557 161474069 06/01/99 9.000 110,000.00 Y
SB557 161475157 12/01/97 8.875 145,000.00 Y
SB557 161479977 06/01/99 11.625 360,000.00 Y
SB557 161480074 06/01/99 9.875 100,500.00 Y
SB557 161480603 06/01/99 12.625 210,000.00 Y
SB557 161482096 06/01/99 10.500 72,000.00 Y
SB557 161483722 12/01/97 10.875 193,000.00 Y
SB557 161483839 12/01/97 8.125 235,000.00 Y
SB557 161484894 06/01/99 10.500 90,000.00 Y
SB557 161486170 06/01/99 9.750 120,000.00 Y
SB557 161487616 06/01/99 8.875 70,000.00 Y
SB557 161488648 12/01/97 10.125 105,500.00 Y
SB557 161490099 06/01/99 9.875 80,000.00 Y
SB557 161490354 06/01/99 10.875 80,000.00 Y
------------ --------------------------
29 10.363 4,112,756.00
</TABLE>
<PAGE>
Page 13 6/24/97
ALLIANCE FUNDING COMPANY
A DIVISION OF SUPERIOR BANK FSB
SALE SCHEDULE B
1997-2 CLASS 2 - INITIAL POOL OF ADJUSTABLE RATE MORTGAGES - SETTLEMENT 6/25/97
<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
- ----------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C>
SBC558 180007544 MARCHANT MICHAEL A 120,000.00 1 1,063.53 119,500.37 66.7
SBC558 180019903 HANLEY JOANNE M 85,000.00 1 668.17 84,634.19 77.2
SBC558 180020737 PLIEGO JOHN A JR 73,500.00 4 571.68 73,234.89 70.0
SBC558 180026460 MONTGOMERY SANDRA 64,600.00 1 584.89 64,465.85 85.0
SBC558 180037020 TCHORZEWSKI HALINE M 94,350.00 1 898.52 94,213.57 85.0
SBC558 180042616 SCALES ORLANDO E 40,000.00 1 380.93 39,903.14 80.0
SBC558 180056392 ANNUSCHIES ALFRED G 89,000.00 1 797.53 88,887.08 89.0
SBC558 180057879 PERRI SAMUEL 233,750.00 1 2,072.95 233,445.40 85.0
SBC558 180063216 PISTONE RAYMOND P 132,000.00 1 1,282.07 131,819.19 82.5
SBC558 180070369 FACEY OSBOURNE 187,000.00 3 1,763.20 186,792.60 85.0
SBC558 180072845 PRIOR T SCOTT 121,000.00 1 1,028.49 120,824.70 83.4
SBC558 180078933 SHERIDAN JAMES M 180,000.00 3 1,497.15 179,725.16 90.0
SBC558 180095853 ANDRESS CHARLES 50,400.00 3 484.74 50,382.51 90.0
SBC558 180096273 PARK KYOUNG HEE SEO 128,000.00 1 1,123.29 127,828.71 80.0
SBC558 180099087 EAST TIMOTHY P 49,600.00 1 500.67 49,554.55 80.0
SBC558 180104101 SNYDER CHRISTOPHE 162,000.00 1 1,481.88 161,805.17 90.0
SBC558 180105686 WILLIAMS WELLINGTON L 135,000.00 1 1,147.49 134,870.12 90.0
SBC558 180123739 WOLOSKI GARY B 60,000.00 1 515.49 59,915.34 66.6
SBC558 180124828 GUGLIELMI MARIO 51,570.00 1 401.11 51,508.88 90.0
SBC558 180130122 MISCAVAGE MELISSA 31,500.00 1 288.14 31,487.49 90.0
SBC558 180134660 RANDALL MARC 33,800.00 1 337.95 33,778.88 65.0
SBC558 180141798 TANTLINGER TERRY ALAN 147,000.00 1 1,344.67 147,000.00 70.0
SBC558 180143638 LILLIS SEAN P 49,000.00 1 434.54 48,978.90 89.9
SBC558 180145104 TERRELL JOHN C 105,000.00 1 816.68 24,938.01 65.6
SBC558 180145971 ADEFILA DAVID O 59,850.00 1 525.23 59,823.52 70.0
SBC558 180151771 BELMONTE EDGAR C 128,164.00 1 1,054.37 118,097.56 85.0
SBC558 180154734 EYLES NANCY 63,750.00 1 536.04 63,750.00 85.0
SBC558 180166571 REESE GEORGE W 35,000.00 3 353.29 34,989.42 70.0
SBC558 180167157 CLEMMONS JAMES 106,200.00 1 951.66 106,155.47 90.0
SBC558 180173767 LEVINE LOUIS A 91,000.00 3 790.20 91,000.00 70.0
SBC558 180175986 HOSTEN DAVID 127,200.00 1 1,069.57 127,200.00 80.0
SBC558 180176612 PECORA EILEEN 229,500.00 3 2,142.34 229,500.00 90.0
SBC558 180176828 TAYLOR GLENWOOD MASON 81,250.00 1 812.37 81,250.00 74.2
SBC558 180176943 HELMS GLENNDON H 90,000.00 1 781.51 90,000.00 54.5
SBC558 180185852 CARTER JAMES 208,250.00 1 2,042.44 208,250.00 85.0
SBC558 800129173 SCAVONE PHILLIP 30,550.00 1 268.10 30,550.00 65.0
SBC558 800131542 MYERS GREGORY A 73,800.00 1 675.08 73,800.00 90.0
SBC558 800135006 PAULES BRYAN S 72,000.00 1 572.86 72,000.00 80.0
SBC558 800136301 WOYTKO HARRY 249,000.00 1 2,185.15 249,000.00 84.9
SBC558 800136855 SANCHEZ RAMON 139,500.00 1 1,302.21 139,500.00 90.0
SBC558 800137937 MCCLAMMY WILLIAM T 211,500.00 1 1,934.67 211,500.00 90.0
SBC558 800140279 HALL LYNDA L 221,000.00 1 1,919.05 221,000.00 85.0
SBC558 800144271 WESTER EDWARD 64,500.00 1 700.92 64,500.00 80.6
SBC558 800145245 WILLIAMS ERIC G 129,600.00 1 1,185.50 129,600.00 90.0
SBC558 800146268 STOCTON PHILIP 88,000.00 1 829.74 88,000.00 79.2
SBC558 800150351 ADDISON GLORIA J 34,000.00 1 330.23 34,000.00 85.0
SBC558 800152555 FLORES DAISY 95,200.00 1 988.41 95,200.00 80.0
SBC558 800153496 BACH GEORGE 228,750.00 1 2,092.47 228,750.00 75.0
SBC558 800154064 LESLIE ELIZABETH C 116,800.00 1 1,246.56 116,770.11 80.0
SBC558 800155251 MAURER DANIEL P 207,000.00 1 1,797.48 207,000.00 64.8
SBC558 800156671 BENNETT CHRISTOPHE 45,000.00 7 394.91 45,000.00 90.0
SBC558 800156788 KOYLES THOMAS 112,500.00 1 997.68 112,500.00 90.0
SBC558 800157182 CEPEDA JOSE 45,600.00 1 499.98 45,600.00 80.0
SBC558 800159865 SWANSON RONALD K 525,300.00 1 5,002.55 525,300.00 85.0
SBC558 800160699 RUFFIN ANNA F 138,400.00 4 1,585.25 138,400.00 80.0
SBC558 800161366 HARVEY STEVEN 31,450.00 1 302.48 31,450.00 85.0
SBC558 800161564 WINIKUS JAMES M 102,400.00 1 994.57 102,400.00 80.0
SBC558 800162364 FACHLER SHARON 126,900.00 1 1,208.50 126,900.00 89.9
SBC558 800163321 REYNOLDS JAMES 45,500.00 1 403.50 45,500.00 65.0
<CAPTION>
Next Current Property
Adjustment Mortgage Value at Owner
Sale ID Account Date Rate Origination Occupied
- ------------------------------------------------------------------------------
<S> <C> <C> <C> <C>
SBC558 180007544 09/01/97 10.125 179,900.00 Y
SBC558 180019903 12/01/97 8.750 110,000.00 Y
SBC558 180020737 11/01/98 8.625 105,000.00 N
SBC558 180026460 07/01/97 10.375 76,000.00 Y
SBC558 180037020 02/01/99 11.000 111,000.00 Y
SBC558 180042616 01/01/99 11.000 50,000.00 Y
SBC558 180056392 02/01/99 10.250 100,000.00 Y
SBC558 180057879 02/01/99 10.125 275,000.00 Y
SBC558 180063216 07/01/97 11.250 160,000.00 Y
SBC558 180070369 02/01/99 10.875 220,000.00 Y
SBC558 180072845 08/01/97 9.625 145,000.00 Y
SBC558 180078933 08/01/97 9.375 200,000.00 Y
SBC558 180095853 04/01/99 11.125 56,000.00 Y
SBC558 180096273 03/01/99 10.000 160,000.00 Y
SBC558 180099087 03/01/99 11.750 62,000.00 Y
SBC558 180104101 03/01/99 10.500 180,000.00 Y
SBC558 180105686 09/01/97 9.625 150,000.00 Y
SBC558 180123739 03/01/99 9.750 90,000.00 Y
SBC558 180124828 10/01/97 8.625 57,300.00 Y
SBC558 180130122 05/01/99 10.500 35,000.00 Y
SBC558 180134660 10/01/97 11.625 52,000.00 Y
SBC558 180141798 05/01/99 10.500 210,000.00 Y
SBC558 180143638 04/01/99 10.125 54,450.00 Y
SBC558 180145104 04/01/99 8.625 160,000.00 Y
SBC558 180145971 04/01/99 10.000 85,500.00 N
SBC558 180151771 04/01/99 9.250 150,782.00 Y
SBC558 180154734 05/01/99 9.500 75,000.00 Y
SBC558 180166571 05/01/99 11.750 50,000.00 Y
SBC558 180167157 05/01/99 10.250 118,000.00 Y
SBC558 180173767 11/01/97 9.875 130,000.00 N
SBC558 180175986 05/01/99 9.500 159,000.00 Y
SBC558 180176612 05/01/99 10.750 255,000.00 Y
SBC558 180176828 05/01/99 11.625 109,500.00 Y
SBC558 180176943 05/01/99 9.875 165,000.00 Y
SBC558 180185852 05/01/99 11.375 245,000.00 Y
SBC558 800129173 05/01/99 10.000 47,000.00 N
SBC558 800131542 05/01/99 10.500 82,000.00 Y
SBC558 800135006 06/01/99 8.875 90,000.00 Y
SBC558 800136301 05/01/99 10.000 293,000.00 Y
SBC558 800136855 06/01/99 10.750 155,000.00 Y
SBC558 800137937 05/01/99 10.500 235,000.00 Y
SBC558 800140279 11/01/97 9.875 260,000.00 Y
SBC558 800144271 06/01/99 12.750 80,000.00 Y
SBC558 800145245 06/01/99 10.500 144,000.00 Y
SBC558 800146268 11/01/97 10.875 111,000.00 Y
SBC558 800150351 06/01/99 11.250 40,000.00 Y
SBC558 800152555 11/01/97 12.125 119,000.00 Y
SBC558 800153496 05/01/99 10.500 305,000.00 Y
SBC558 800154064 04/01/99 12.500 146,000.00 Y
SBC558 800155251 06/01/99 9.875 319,000.00 Y
SBC558 800156671 05/01/99 10.000 50,000.00 Y
SBC558 800156788 06/01/99 10.125 125,000.00 Y
SBC558 800157182 06/01/99 12.875 57,000.00 Y
SBC558 800159865 06/01/99 11.000 618,000.00 Y
SBC558 800160699 06/01/99 13.500 173,000.00 Y
SBC558 800161366 06/01/99 11.125 37,000.00 Y
SBC558 800161564 12/01/97 11.250 128,000.00 Y
SBC558 800162364 05/01/99 11.000 141,100.00 Y
SBC558 800163321 06/01/99 10.125 70,000.00 Y
</TABLE>
<PAGE>
Page 14 6/24/97
ALLIANCE FUNDING COMPANY
A DIVISION OF SUPERIOR BANK FSB
SALE SCHEDULE B
1997-2 CLASS 2 - INITIAL POOL OF ADJUSTABLE RATE MORTGAGES - SETTLEMENT 6/25/97
<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
- ----------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C>
SBC558 800164881 AGEE ANGELA T 123,000.00 1 1,218.06 123,000.00 80.9
SBC558 800165938 MIGNANO MICHAEL 225,000.00 1 1,953.78 225,000.00 65.9
SBC558 800169054 DONEHOO TOMMY P 60,300.00 1 597.15 60,300.00 90.0
SBC558 800169401 ELICKER-DEVE ELLEN D 144,300.00 1 1,484.29 144,300.00 85.8
SBC558 800169773 PAWLOWSKI THOMAS P 131,700.00 1 1,266.66 131,700.00 84.9
SBC558 800171324 MARTIN JOHN 155,550.00 1 1,540.40 155,550.00 83.1
SBC558 800171381 STACKHOUSE STEPHEN J 64,890.00 1 575.46 64,890.00 90.0
SBC558 800171886 SCOTT LAMONT 94,500.00 1 882.14 94,500.00 90.0
SBC558 800175531 CRISCI MARIA 225,000.00 3 2,058.16 225,000.00 83.3
SBC558 800175853 NELLIS STEVEN D 71,120.00 3 637.31 71,120.00 80.0
SBC558 800176596 AMADITZ THOMAS J 112,000.00 1 1,066.60 112,000.00 80.0
SBC558 800177065 PARKER SHERW DONNA 691,125.00 1 6,129.05 691,125.00 75.0
SBC558 800177552 CAMPBELL FRANCINE 46,400.00 1 450.67 46,384.33 80.0
SBC558 800178337 FAFRAK JOHN F 154,800.00 1 1,488.84 154,800.00 80.0
SBC558 800181836 MILLER SHARON L 74,700.00 1 634.95 74,700.00 90.0
SBC558 800182446 LORD PHILIP M 146,500.00 1 1,245.23 146,500.00 80.4
SBC558 800182503 BARRON DAVID R 159,750.00 1 1,387.19 159,750.00 90.0
SBC558 800184582 CASSIDY DEBROAH 84,000.00 1 744.93 84,000.00 80.0
SBC558 800184814 COVINGTON FRANCIS 238,500.00 1 2,137.20 238,500.00 90.0
SBC558 800185183 HWANG JO H. 43,200.00 1 395.17 43,200.00 90.0
SBC558 800185217 WACHTER PETER 157,000.00 1 1,291.60 157,000.00 83.9
SBC558 800185548 NISSLEY SCOTT A 104,400.00 1 935.53 104,400.00 90.0
SBC558 800185613 SCHUTT BRIAN B 56,000.00 1 528.02 56,000.00 48.6
SBC558 800186223 LEASON DAVID A 105,000.00 1 1,029.80 105,000.00 75.0
SBC558 800187247 FELIX GLORIA 225,000.00 3 2,037.17 225,000.00 90.0
SBC558 800187551 LANG AUDREY 96,800.00 1 921.85 96,800.00 80.6
SBC558 800188690 SCHAEFFER HOWARD C 202,500.00 1 1,852.35 202,500.00 90.0
SBC558 800189466 TRELLU JEAN DENIS 129,600.00 1 1,185.50 129,600.00 90.0
SBC558 800190654 SCOTT WAIDE 223,920.00 1 2,069.24 223,920.00 80.0
SBC558 800192577 FISHER LEO 55,000.00 1 462.47 55,000.00 63.9
SBC558 800193146 ALCALA MARGARET H 140,000.00 1 1,603.58 140,000.00 77.7
SBC558 800193625 RESH CHARLES E JR 83,250.00 1 761.52 83,250.00 90.0
SBC558 800193930 CONROY THOMAS J 64,000.00 1 573.50 64,000.00 80.0
SBC558 800194706 MUNOZ JORGE 130,000.00 3 1,034.34 130,000.00 76.4
SBC558 800195604 HITCHCOCK JEFFREY A. 56,000.00 1 570.64 56,000.00 80.0
SBC558 800196040 PRUDE JAMES S 72,000.00 1 658.61 72,000.00 90.0
SBC558 800196370 FLEMING DWIGHT E 81,900.00 1 756.84 81,900.00 90.0
SBC558 800196602 NOTTMAN DAVID ALAN 160,000.00 1 1,374.65 160,000.00 80.0
SBC558 800197907 BARON DAN C 330,000.00 1 2,625.63 330,000.00 89.9
SBC558 800198285 BLASZKA ANTHONY 106,600.00 1 975.11 106,600.00 89.9
SBC558 800199168 YELLETS RONALD H 40,000.00 1 377.16 40,000.00 50.0
SBC558 800199846 PELOQUIN DONALD E 142,800.00 1 1,292.92 142,800.00 85.0
SBC558 800200453 DEMKO OKSANA 93,500.00 4 786.20 93,500.00 85.0
SBC558 800200875 TOLBERT MYRA DELL 50,085.00 1 407.51 50,085.00 90.0
SBC558 800201501 SALVO ANGELA 107,100.00 1 1,101.64 107,100.00 85.0
SBC558 800202756 PALMER KAREN N 165,000.00 1 1,417.60 165,000.00 62.2
SBC558 800202822 PLATA MARIA 132,000.00 1 1,345.08 132,000.00 73.7
SBC558 800203275 FRANCO KEYLA 147,000.00 1 1,427.75 147,000.00 84.9
SBC558 800203309 BURCH MAUREEN C 133,450.00 1 1,258.29 133,450.00 85.0
SBC558 800206070 FOSTER SUE 78,625.00 1 763.65 78,625.00 85.0
SBC558 800206831 PEYTON DANNY 68,000.00 1 628.39 68,000.00 85.0
SBC558 800207003 NEWKIRK SANDRA A 35,700.00 1 293.70 35,700.00 77.6
SBC558 800207219 SLAUGHENHOUP BARBARA L 62,100.00 1 568.05 62,100.00 90.0
SBC558 800207433 PETERSON ROBERTA J 93,750.00 1 883.96 93,750.00 74.4
SBC558 800208373 MERSON DANIEL L 121,500.00 1 1,055.05 121,500.00 90.0
SBC558 800208886 MCCLENDON MARVIN 99,000.00 1 905.59 99,000.00 90.0
SBC558 800209223 PANIO FRANCINE 400,000.00 1 3,111.16 400,000.00 68.9
SBC558 800209314 CANNON KELLI 124,950.00 1 1,213.59 124,950.00 85.0
SBC558 800211898 URIBE JUAN B. 172,200.00 1 1,511.18 172,200.00 82.0
<CAPTION>
Next Current Property
Adjustment Mortgage Value at Owner
Sale ID Account Date Rate Origination Occupied
- ------------------------------------------------------------------------------
<S> <C> <C> <C> <C>
SBC558 800164881 12/01/97 11.500 152,000.00 Y
SBC558 800165938 05/01/99 9.875 341,000.00 Y
SBC558 800169054 06/01/99 11.500 67,000.00 Y
SBC558 800169401 05/01/99 12.000 168,000.00 Y
SBC558 800169773 06/01/99 11.125 155,000.00 Y
SBC558 800171324 05/01/99 11.500 187,000.00 Y
SBC558 800171381 05/01/99 10.125 72,100.00 Y
SBC558 800171886 06/01/99 10.750 105,000.00 Y
SBC558 800175531 11/01/97 10.500 270,000.00 Y
SBC558 800175853 06/01/99 10.250 88,900.00 Y
SBC558 800176596 06/01/99 11.000 140,000.00 Y
SBC558 800177065 11/01/97 10.125 921,500.00 Y
SBC558 800177552 11/01/97 11.250 58,000.00 Y
SBC558 800178337 12/01/97 11.125 193,500.00 Y
SBC558 800181836 11/01/97 9.625 83,000.00 Y
SBC558 800182446 06/01/99 9.625 182,000.00 Y
SBC558 800182503 11/01/97 9.875 177,500.00 Y
SBC558 800184582 06/01/99 10.125 105,000.00 Y
SBC558 800184814 05/01/99 10.250 265,000.00 Y
SBC558 800185183 06/01/99 10.500 48,000.00 Y
SBC558 800185217 06/01/99 9.250 187,000.00 Y
SBC558 800185548 06/01/99 10.250 116,000.00 Y
SBC558 800185613 06/01/99 10.875 115,000.00 Y
SBC558 800186223 06/01/99 11.375 140,000.00 Y
SBC558 800187247 12/01/97 10.375 250,000.00 Y
SBC558 800187551 06/01/99 11.000 120,000.00 Y
SBC558 800188690 06/01/99 10.500 225,000.00 Y
SBC558 800189466 05/01/99 10.500 144,000.00 Y
SBC558 800190654 06/01/99 10.625 279,900.00 Y
SBC558 800192577 06/01/99 9.500 86,000.00 Y
SBC558 800193146 06/01/99 13.500 180,000.00 Y
SBC558 800193625 06/01/99 10.500 92,500.00 Y
SBC558 800193930 06/01/99 10.250 80,000.00 Y
SBC558 800194706 06/01/99 8.875 170,000.00 Y
SBC558 800195604 06/01/99 11.875 70,000.00 Y
SBC558 800196040 06/01/99 10.500 80,000.00 Y
SBC558 800196370 06/01/99 10.625 91,000.00 Y
SBC558 800196602 06/01/99 9.750 200,000.00 Y
SBC558 800197907 06/01/99 8.875 367,000.00 Y
SBC558 800198285 05/01/99 10.500 118,500.00 Y
SBC558 800199168 06/01/99 10.875 80,000.00 Y
SBC558 800199846 12/01/97 10.375 168,000.00 Y
SBC558 800200453 06/01/99 9.500 110,000.00 Y
SBC558 800200875 12/01/97 9.125 55,650.00 Y
SBC558 800201501 06/01/99 12.000 126,000.00 Y
SBC558 800202756 06/01/99 9.750 265,000.00 Y
SBC558 800202822 06/01/99 11.875 179,000.00 Y
SBC558 800203275 06/01/99 11.250 173,000.00 Y
SBC558 800203309 12/01/97 10.875 157,000.00 Y
SBC558 800206070 06/01/99 11.250 92,500.00 Y
SBC558 800206831 06/01/99 10.625 80,000.00 Y
SBC558 800207003 06/01/99 9.250 46,000.00 Y
SBC558 800207219 06/01/99 10.500 69,000.00 Y
SBC558 800207433 12/01/97 10.875 126,000.00 Y
SBC558 800208373 12/01/97 9.875 135,000.00 Y
SBC558 800208886 06/01/99 10.500 110,000.00 Y
SBC558 800209223 12/01/97 8.625 580,000.00 Y
SBC558 800209314 06/01/99 11.250 147,000.00 Y
SBC558 800211898 06/01/99 10.000 210,000.00 Y
</TABLE>
<PAGE>
Page 15 6/24/97
ALLIANCE FUNDING COMPANY
A DIVISION OF SUPERIOR BANK FSB
SALE SCHEDULE B
1997-2 CLASS 2 - INITIAL POOL OF ADJUSTABLE RATE MORTGAGES - SETTLEMENT 6/25/97
<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
- ----------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C>
SBC558 800213050 BLAS ISMAEL 55,675.00 1 540.75 55,675.00 85.0
SBC558 800213076 TORONY JOSEPH L JR 60,300.00 1 551.59 60,300.00 90.0
SBC558 800213464 DRAKE CRAIG 99,900.00 8 794.85 99,900.00 90.0
SBC558 800213563 COLLINS LOIS M 36,900.00 1 330.66 36,900.00 90.0
SBC558 800216558 FISCHETTI RICHARD 104,550.00 1 1,015.45 104,550.00 85.0
SBC558 800216574 RUTZ GARY G 184,050.00 1 1,464.38 184,050.00 90.0
SBC558 800218240 SOBLE ROBERT L 104,000.00 1 1,089.81 104,000.00 80.0
SBC558 800219123 MUNOZ ORLANDO 151,300.00 1 1,384.00 151,300.00 85.0
SBC558 800220154 RICHARDS FRANCIS A 204,000.00 2 1,443.90 204,000.00 75.0
---------------------------------------------------------- -----------------------------------------
127 Sale Total 15,670,224.00 142,067.68 15,576,455.11 81.9
627 Total with Superior 74,999,865.00 687,368.94 74,887,022.65 79.8
<CAPTION>
Next Current Property
Adjustment Mortgage Value at Owner
Sale ID Account Date Rate Origination Occupied
- ------------------------------------------------------------------------------
<S> <C> <C> <C> <C>
SBC558 800213050 06/01/99 11.250 65,500.00 Y
SBC558 800213076 06/01/99 10.500 67,000.00 Y
SBC558 800213464 06/01/99 8.875 111,000.00 Y
SBC558 800213563 06/01/99 10.250 41,000.00 Y
SBC558 800216558 06/01/99 11.250 123,000.00 Y
SBC558 800216574 12/01/97 8.875 204,500.00 Y
SBC558 800218240 06/01/99 12.250 130,000.00 Y
SBC558 800219123 06/01/99 10.500 178,000.00 Y
SBC558 800220154 12/01/97 7.625 272,000.00 Y
------------ --------------------------
127 10.390 19,359,082.00
627 10.506 95,796,257.00
</TABLE>
<PAGE>
Page 16 6/24/97
ALLIANCE FUNDING COMPANY
A DIVISION OF SUPERIOR BANK FSB
SALE SCHEDULE B
1997-2 CLASS 2 - INITIAL POOL OF ADJUSTABLE RATE MORTGAGES - SETTLEMENT 6/25/97
<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
- ----------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C>
BS30 161409305 HANELINE WAYNE D 113,600.00 1 934.56 113,481.76 80.0
BS30 161414297 LEE JOHNNIE M 52,000.00 1 500.13 51,981.95 69.3
BS30 161420179 ROBERTS CARI 40,000.00 1 354.73 39,965.39 32.7
BS30 161425079 MURRIETTA LYDIA 42,000.00 1 326.67 41,975.21 70.0
BS30 161425871 CARROLL CHRISTOPHE G 126,000.00 1 1,059.48 125,938.02 80.0
BS30 161426135 BENSON CHARLES R 116,400.00 1 1,130.55 116,347.39 84.3
BS30 161426945 WILLIAMS LONNIE L 40,500.00 3 355.42 40,482.08 75.0
BS30 161428115 LOVE-TUCKER JOHNNIE SUE 56,300.00 1 494.07 56,249.99 66.1
BS30 161429022 YAMANI MOHAMAD 108,000.00 3 888.49 107,944.01 80.0
BS30 161429402 DANG TUONG 144,328.00 1 1,226.77 144,258.86 79.9
BS30 161430384 CAPPELLO GLENN 35,000.00 1 320.16 34,972.06 63.6
BS30 161430400 CAPPELLO GLENN 45,500.00 4 416.21 45,463.68 70.0
BS30 161433701 PURSER DAVID L 45,600.00 1 499.98 45,578.40 80.0
BS30 161434220 KASH MAHER Z 81,000.00 1 725.84 80,931.78 90.0
BS30 161437017 BRENNER JANICE M 60,000.00 1 588.46 60,000.00 75.0
BS30 161437355 SCHULTA ROBIN A 94,700.00 1 910.81 94,667.14 84.9
BS30 161440417 SHOAFF DAVID B 113,347.00 8 1,058.07 113,304.33 83.9
BS30 161441399 MANLEY LINDA C 127,600.00 1 1,251.46 127,558.08 80.0
BS30 161442157 CAREW THOMAS J 72,000.00 1 579.33 71,960.67 80.0
BS30 161442785 VICKERS JOHN E 249,900.00 1 2,078.54 249,773.80 89.2
BS30 161443361 LOFGREN JENNIFER H 91,500.00 1 695.47 91,443.12 75.0
BS30 161443742 WASHINGTON ALFRED M 33,700.00 1 324.12 33,688.31 74.8
BS30 161444005 RAMOS ANGEL M 70,550.00 1 665.21 70,488.19 85.0
BS30 161444161 WHEDBEE JAMIE 121,750.00 8 1,194.09 121,710.00 75.5
BS30 161444898 HARNESS W WILLIAM JR 78,750.00 1 713.01 78,685.42 74.2
BS30 161445044 SIMON MONICA 82,000.00 1 742.43 81,932.77 68.3
BS30 161445242 SCHMIDT MICHAEL ANTHONY 105,300.00 1 895.04 105,249.55 90.0
BS30 161445366 ZACCONE DEDRA 112,000.00 1 1,228.01 112,000.00 80.0
BS30 161445473 ROBINSON ROY E JR 134,700.00 1 1,095.96 134,628.32 80.9
BS30 161445937 ONZO FRANK 355,500.00 1 2,892.47 355,310.81 90.0
BS30 161447511 DAHLGREN KAREN E 120,000.00 1 933.35 119,929.15 38.7
BS30 161447685 RACELIS FELICIANO E 124,000.00 8 1,299.39 123,966.44 79.1
BS30 161448717 RAIMI JENNIFER 160,000.00 1 1,287.40 160,000.00 80.0
BS30 161448998 RAGLAND RANDOLPH R 46,800.00 1 428.10 46,762.64 90.0
BS30 161450697 BATENBURG JR R M 207,400.00 8 1,762.88 207,300.64 85.0
BS30 161452040 PARRISH BRUCE E JR 147,000.00 1 1,317.27 147,000.00 89.0
BS30 161452263 YOUSEF TAHER 149,400.00 1 1,256.24 149,326.51 90.0
BS30 161452628 VAN NGUYEN CHIEU 149,600.00 8 1,230.72 149,522.45 80.0
BS30 161452826 ENGEL BRETT E 71,920.00 1 611.31 71,850.82 80.0
BS30 161453824 MAVOR CAREY WAYNE 105,300.00 1 933.83 105,254.64 74.1
BS30 161454384 ENGEL SHARRON S 64,500.00 1 632.59 64,478.82 75.0
BS30 161454665 HARO MARIA M 80,000.00 1 754.31 79,970.69 76.5
BS30 161454996 MCAFEE MICHAEL R 81,000.00 1 756.12 80,938.73 64.8
BS30 161455191 LEWELLYN JOHN M 83,200.00 1 912.24 83,160.65 80.0
BS30 161456348 MCDONALD ANTHONY 245,500.00 1 2,086.73 245,382.38 77.9
BS30 161456850 WELCH DEAN M 108,000.00 1 947.78 107,952.22 80.0
BS30 161457171 ARIEMMA STEPHEN 245,000.00 8 2,402.88 244,919.53 47.1
BS30 161458070 GOLD MICHAEL 275,000.00 1 2,515.54 274,890.71 89.9
BS30 161460035 STRUCK FREDERICK A 90,000.00 1 606.35 90,000.00 77.5
BS30 161460480 AL-GHAZALY HAITHAM 105,300.00 3 895.04 105,198.70 90.0
BS30 161460548 DAVIS CHARLES D 191,200.00 1 2,003.58 191,148.25 74.9
---------------------------------------------------------- -----------------------------------------
51 Sale Total 5,799,645.00 51,719.19 5,796,925.06 78.7
<CAPTION>
Next Current Property
Adjustment Mortgage Value at Owner
Sale ID Account Date Rate Origination Occupied
- ------------------------------------------------------------------------------
<S> <C> <C> <C> <C>
BS30 161409305 04/01/99 9.250 142,000.00 Y
BS30 161414297 04/01/99 11.125 75,000.00 Y
BS30 161420179 09/01/97 10.125 122,000.00 Y
BS30 161425079 10/01/97 8.625 60,000.00 N
BS30 161425871 04/01/99 9.500 157,500.00 Y
BS30 161426135 04/01/99 11.500 138,000.00 Y
BS30 161426945 10/01/97 10.000 54,000.00 Y
BS30 161428115 10/01/97 10.000 85,100.00 Y
BS30 161429022 04/01/99 9.250 135,000.00 Y
BS30 161429402 10/01/97 9.625 180,411.00 Y
BS30 161430384 04/01/99 10.500 55,000.00 N
BS30 161430400 04/01/99 10.500 65,000.00 N
BS30 161433701 04/01/99 12.875 57,000.00 Y
BS30 161434220 04/01/99 10.250 90,000.00 Y
BS30 161437017 05/01/99 11.375 80,000.00 Y
BS30 161437355 04/01/99 11.125 111,500.00 Y
BS30 161440417 04/01/99 10.750 135,000.00 Y
BS30 161441399 04/01/99 11.375 159,500.00 Y
BS30 161442157 04/01/99 9.000 90,000.00 Y
BS30 161442785 10/01/97 9.375 280,000.00 Y
BS30 161443361 10/01/97 8.375 122,000.00 Y
BS30 161443742 04/01/99 11.125 45,000.00 Y
BS30 161444005 04/01/99 10.875 83,000.00 Y
BS30 161444161 04/01/99 11.375 161,112.00 Y
BS30 161444898 04/01/99 10.375 106,000.00 Y
BS30 161445044 04/01/99 10.375 120,000.00 Y
BS30 161445242 10/01/97 9.625 117,000.00 Y
BS30 161445366 05/01/99 12.875 140,000.00 Y
BS30 161445473 10/01/97 9.125 166,500.00 Y
BS30 161445937 10/01/97 9.125 395,000.00 Y
BS30 161447511 04/01/99 8.625 310,000.00 Y
BS30 161447685 04/01/99 12.250 156,628.00 Y
BS30 161448717 05/01/99 9.000 200,000.00 Y
BS30 161448998 04/01/99 10.500 52,000.00 Y
BS30 161450697 10/01/97 9.625 244,000.00 Y
BS30 161452040 05/01/99 10.250 165,000.00 Y
BS30 161452263 10/01/97 9.500 166,000.00 Y
BS30 161452628 04/01/99 9.250 187,000.00 Y
BS30 161452826 04/01/99 9.625 89,900.00 Y
BS30 161453824 10/01/97 10.125 142,000.00 Y
BS30 161454384 04/01/99 11.375 86,000.00 Y
BS30 161454665 10/01/97 10.875 104,500.00 Y
BS30 161454996 04/01/99 10.750 125,000.00 Y
BS30 161455191 04/01/99 12.875 104,000.00 Y
BS30 161456348 10/01/97 9.625 315,000.00 Y
BS30 161456850 04/01/99 10.000 135,000.00 Y
BS30 161457171 04/01/99 11.375 520,000.00 Y
BS30 161458070 04/01/99 10.500 305,590.00 Y
BS30 161460035 11/01/97 7.125 116,000.00 Y
BS30 161460480 10/01/97 9.625 117,000.00 Y
BS30 161460548 04/01/99 12.250 255,000.00 Y
------------ --------------------------
51 10.181 7,623,241.00
</TABLE>
<PAGE>
Page 17 6/24/97
ALLIANCE FUNDING COMPANY
A DIVISION OF SUPERIOR BANK FSB
SALE SCHEDULE B
1997-2 CLASS 2 - INITIAL POOL OF ADJUSTABLE RATE MORTGAGES - SETTLEMENT 6/25/97
<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
- ----------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C>
BSC32P 180052862 MORALES LEONER 58,800.00 1 494.42 58,653.09 80.0
BSC32P 180077406 ELLIS E CHARLES 72,000.00 1 625.21 71,867.54 80.0
BSC32P 180080806 MACE BONNIE M 76,500.00 1 685.52 76,402.93 90.0
BSC32P 180084782 DEFILLIPPIS YVONNE 49,725.00 1 473.54 49,618.16 85.0
BSC32P 180099798 VARLEY EDWARD 52,000.00 1 505.06 51,964.72 80.0
BSC32P 180101321 HIGHT MICHAEL W 78,410.00 1 739.32 78,381.27 85.6
BSC32P 180101875 REYES MICHAEL 176,000.00 1 1,742.91 175,886.98 80.0
BSC32P 180104416 CAPONE NANCY 93,600.00 1 1,008.04 93,576.71 80.0
BSC32P 180105975 AVERY MICHAEL L 110,000.00 1 945.07 109,844.78 73.8
BSC32P 180106171 MOGILSKI ROBERT 126,650.00 1 1,230.10 126,607.24 85.0
BSC32P 180109225 TURNER KEITH A 246,700.00 1 2,164.97 246,445.49 89.9
BSC32P 180109704 FORRESTER JEAN 130,500.00 1 1,038.32 130,426.84 73.5
BSC32P 180110389 GORITY ROBERT D SR 27,080.00 1 250.25 27,058.95 85.9
BSC32P 180110587 BROWN BRENDA D 93,150.00 1 852.08 93,112.98 90.0
BSC32P 180111098 CHARLES JENNIFER 152,000.00 1 1,376.22 151,937.95 80.0
BSC32P 180113375 JOSEPH JETRIS MERIE 225,000.00 3 2,058.16 224,820.40 90.0
BSC32P 180114365 NADOLNY MARCELLA 190,000.00 1 1,863.45 189,874.59 73.0
BSC32P 180116071 POLISI MARIAELENA 110,500.00 1 1,052.32 110,460.60 85.0
BSC32P 180116477 VANDERWATERE ROBERT 242,900.00 3 1,932.62 242,763.83 70.0
BSC32P 180118879 GOTTESMAN ABRAHAM 95,000.00 3 940.78 94,969.64 38.0
BSC32P 180119703 VICARO ELIZABETH ANN 92,650.00 1 838.86 92,574.03 85.0
BSC32P 180119885 BECK JOSEPH P 97,500.00 1 1,002.90 97,443.92 75.0
BSC32P 180121048 KEHOE DONALD W 230,000.00 1 1,997.20 229,895.51 80.0
BSC32P 180121667 HAWKINS TERESA J 74,250.00 1 631.12 74,177.68 90.0
BSC32P 180124216 WALLACE REGINALD 151,300.00 1 1,327.77 151,233.06 85.0
BSC32P 180128050 ELALFY HELEN 80,000.00 3 822.89 79,977.11 80.0
BSC32P 180132284 SILVERBERG MARTA C 220,000.00 1 1,672.16 220,000.00 69.2
BSC32P 180133274 KATICH FRANK J III 90,500.00 1 810.97 90,423.78 83.7
BSC32P 180134090 GALVIS A MAURICE 108,000.00 1 1,142.17 107,971.58 80.0
BSC32P 180134231 CHARLES WILLIS J 214,340.00 1 1,782.78 214,122.66 70.0
BSC32P 180134306 KAUTTER MARK 33,600.00 1 316.81 33,587.69 75.0
BSC32P 180134892 COLANTUONO EMIL G 191,250.00 1 1,320.92 191,250.00 85.0
BSC32P 180136632 THOMPSON DENNIS 100,300.00 1 870.95 100,208.50 85.0
BSC32P 180142358 DEVANEY CARRIE JEAN 46,000.00 7 522.62 45,956.55 69.6
BSC32P 180142549 SILVESTER LUIS G. 123,500.00 5 1,234.80 123,461.61 85.1
BSC32P 180142846 THOMPSON CATHERINE F 112,500.00 1 1,029.08 112,410.20 90.0
BSC32P 180143893 NAIMOLI ANGELA 135,900.00 1 1,217.80 135,843.01 90.0
BSC32P 180145005 STORMS WILLIAM D JR 90,000.00 1 806.49 90,000.00 90.0
BSC32P 180145732 CABELL KARIN M 19,350.00 1 177.00 19,342.31 90.0
BSC32P 180147654 GERMAN PIERRE ANDRE 106,250.00 1 1,001.82 106,250.00 85.0
BSC32P 180148389 SPENCER GARFIELD 49,725.00 1 450.21 49,704.70 85.0
BSC32P 180148876 ASCOLESI JUDY 161,100.00 1 1,473.65 161,035.98 90.0
BSC32P 180149387 MOORE EMMY 35,000.00 1 387.17 34,992.00 27.7
BSC32P 180149783 LOUIS PHENOLD J 117,000.00 1 1,081.19 116,954.75 90.0
BSC32P 180150799 DELANEY ROBERT D 90,000.00 1 781.51 89,917.90 90.0
BSC32P 180152019 KAYAL JAMES A 49,000.00 1 480.57 48,967.67 69.5
BSC32P 180156275 SOBEK LESLIE S 80,000.00 1 608.06 79,900.20 80.0
BSC32P 180163974 WILLIAMS JESSE J 108,000.00 1 967.79 107,954.71 90.0
BSC32P 180165094 MATCHETT INELL HOLMES 50,310.00 1 446.16 50,266.48 90.0
---------------------------------------------------------- -----------------------------------------
49 Sale Total 5,463,840.00 49,181.78 5,460,498.28 80.9
100 Total with Banco Santander 11,263,485.00 100,900.97 11,257,423.34 79.8
<CAPTION>
Next Current Property
Adjustment Mortgage Value at Owner
Sale ID Account Date Rate Origination Occupied
- ------------------------------------------------------------------------------
<S> <C> <C> <C> <C>
BSC32P 180052862 01/01/99 9.500 73,500.00 Y
BSC32P 180077406 02/01/99 9.875 90,000.00 Y
BSC32P 180080806 02/01/99 10.250 85,000.00 Y
BSC32P 180084782 02/01/99 11.000 58,500.00 Y
BSC32P 180099798 03/01/99 11.250 65,000.00 Y
BSC32P 180101321 04/01/99 10.875 91,500.00 Y
BSC32P 180101875 03/01/99 11.500 220,000.00 Y
BSC32P 180104416 04/01/99 12.625 117,000.00 Y
BSC32P 180105975 09/01/97 9.750 149,000.00 Y
BSC32P 180106171 04/01/99 11.250 149,000.00 Y
BSC32P 180109225 03/01/99 10.000 274,156.00 Y
BSC32P 180109704 10/01/97 8.875 177,500.00 Y
BSC32P 180110389 03/01/99 10.625 31,500.00 Y
BSC32P 180110587 04/01/99 10.500 103,500.00 Y
BSC32P 180111098 04/01/99 10.375 190,000.00 Y
BSC32P 180113375 03/01/99 10.500 250,000.00 Y
BSC32P 180114365 03/01/99 11.375 260,000.00 Y
BSC32P 180116071 04/01/99 11.000 130,000.00 Y
BSC32P 180116477 04/01/99 8.875 347,000.00 Y
BSC32P 180118879 05/01/99 11.500 250,000.00 Y
BSC32P 180119703 10/01/97 10.375 109,000.00 Y
BSC32P 180119885 03/01/99 12.000 130,000.00 Y
BSC32P 180121048 10/01/97 9.875 287,500.00 Y
BSC32P 180121667 10/01/97 9.625 82,500.00 Y
BSC32P 180124216 04/01/99 10.000 178,000.00 Y
BSC32P 180128050 04/01/99 12.000 100,000.00 Y
BSC32P 180132284 05/01/99 8.375 317,500.00 Y
BSC32P 180133274 03/01/99 10.250 108,000.00 Y
BSC32P 180134090 04/01/99 12.375 135,000.00 Y
BSC32P 180134231 10/01/97 9.375 306,200.00 Y
BSC32P 180134306 04/01/99 10.875 44,800.00 Y
BSC32P 180134892 11/01/97 7.375 225,000.00 Y
BSC32P 180136632 04/01/99 9.875 118,000.00 Y
BSC32P 180142358 04/01/99 12.500 66,000.00 Y
BSC32P 180142549 04/01/99 11.625 145,000.00 Y
BSC32P 180142846 04/01/99 10.500 125,000.00 Y
BSC32P 180143893 10/01/97 10.250 151,000.00 Y
BSC32P 180145005 05/01/99 10.250 100,000.00 Y
BSC32P 180145732 05/01/99 10.500 21,500.00 Y
BSC32P 180147654 05/01/99 10.875 125,000.00 Y
BSC32P 180148389 10/01/97 10.375 58,500.00 Y
BSC32P 180148876 04/01/99 10.500 179,000.00 Y
BSC32P 180149387 04/01/99 13.000 126,000.00 Y
BSC32P 180149783 04/01/99 10.625 130,000.00 Y
BSC32P 180150799 04/01/99 9.875 100,000.00 Y
BSC32P 180152019 04/01/99 11.375 70,500.00 Y
BSC32P 180156275 04/01/99 8.375 100,000.00 Y
BSC32P 180163974 04/01/99 10.250 120,000.00 Y
BSC32P 180165094 04/01/99 10.125 55,900.00 Y
------------ --------------------------
49 10.281 6,927,056.00
100 10.230 14,550,297.00
</TABLE>
<PAGE>
Page 18 6/24/97
ALLIANCE FUNDING COMPANY
A DIVISION OF SUPERIOR BANK FSB
SALE SCHEDULE B
1997-2 CLASS 2 - INITIAL POOL OF ADJUSTABLE RATE MORTGAGES - SETTLEMENT 6/25/97
<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
- ----------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C>
MLC164 180003220 BUTLER JOSEPH L 35,000.00 1 356.22 34,808.65 43.7
MLC164 180015281 RODRIGUEZ ALFREDO 132,000.00 3 1,170.61 131,710.87 75.0
MLC164 180024887 MOORE STEPHEN D 48,750.00 1 427.82 48,684.75 75.0
MLC164 180026718 SAWYER ESTHER H 92,700.00 1 873.59 92,442.05 90.0
MLC164 180053449 MOORE NANCY A 55,250.00 1 520.95 55,167.90 85.0
MLC164 180064248 KIM MI JIN 89,500.00 1 777.17 89,293.34 85.2
MLC164 180078024 MORRIS SYLVIA 59,150.00 1 563.30 59,064.47 65.0
MLC164 180078792 RUNU FAREENA W 152,000.00 3 1,305.91 151,785.53 79.6
MLC164 180083321 WILLIAMS MARY ANN 132,300.00 1 1,210.20 132,194.40 90.0
MLC164 180085094 MEHTA PRAVIN C. 166,500.00 1 1,295.02 166,302.69 90.0
MLC164 180091142 LEE JUNG W 201,450.00 1 1,937.51 201,380.10 85.0
MLC164 180091902 TELAHUN SOLOMON 613,615.00 1 5,103.74 613,305.13 85.1
MLC164 180097271 CARD JOYCE 60,000.00 1 466.67 59,856.79 68.9
MLC164 180097404 MUNN MARK S 83,700.00 3 765.64 83,666.74 90.0
MLC164 180098766 TRONCO DANIEL A SR 108,000.00 1 927.89 107,847.60 79.4
MLC164 180101446 FORCHIELLI CATHY 102,510.00 1 943.45 102,388.70 85.4
MLC164 180101800 FRAWLEY TIMOTHY P 100,000.00 1 1,106.20 99,977.13 49.2
MLC164 180103236 VAINIERI ANTHONY JR 170,000.00 1 1,618.95 169,939.38 85.0
MLC164 180105348 CANFIELD HEIDI M 186,150.00 1 1,808.00 186,023.73 85.0
MLC164 180107039 BERRIOS HECTOR 109,900.00 1 924.10 109,845.94 70.0
MLC164 180110454 MARKE RUZADI 72,960.00 1 567.48 72,916.92 80.0
MLC164 180110991 MILLARD GLENN A 70,200.00 1 599.26 70,133.19 90.0
MLC164 180118606 DERAFFAELE JOANN 48,000.00 1 466.21 47,983.79 80.0
MLC164 180121121 CORLETO BRIAN D 105,000.00 1 1,049.83 105,000.00 75.0
MLC164 180123952 ESPOSITO TONIANN 208,000.00 3 1,787.04 207,805.13 80.0
MLC164 180125148 CASTRO JOSEPH F JR 95,625.00 1 956.10 95,595.27 85.0
MLC164 180125742 LORENZI FRANK P 152,000.00 1 1,278.10 151,925.23 73.4
MLC164 180126203 SIMON THERESA M 121,550.00 1 1,297.25 121,550.00 85.0
MLC164 180127532 HOLLEY JOHN A 100,750.00 1 1,065.50 100,750.00 65.0
MLC164 180128027 RALPH TONEY 92,225.00 1 750.38 92,126.45 84.2
MLC164 180128746 SALM JOSEPH F 72,000.00 1 645.19 71,969.81 90.0
MLC164 180129223 LEE KATHLEEN A 160,000.00 1 1,374.65 159,925.35 71.1
MLC164 180130379 GALATOLO ROBERT 45,000.00 1 411.63 44,964.08 90.0
MLC164 180130809 CAMPANILE PATRICIA 153,000.00 1 1,544.40 152,953.73 82.7
MLC164 180130858 DIPPMAN RUSSELL T 212,500.00 1 2,023.69 212,347.76 85.0
MLC164 180133464 DECKARD ART W 53,450.00 1 560.10 53,435.54 80.9
MLC164 180134355 BARNES KENNETH H JR 48,750.00 1 482.77 48,734.42 75.0
MLC164 180135204 BOUNTINAS JOHN 220,000.00 3 1,711.14 219,870.11 89.7
MLC164 180135329 PRICE JOSEPH H 44,000.00 1 439.93 43,952.27 48.8
MLC164 180135535 WEIS MARTIN A 99,200.00 1 870.55 99,156.12 80.0
MLC164 180135733 RHEN LEE K 42,350.00 1 435.62 42,337.88 80.9
MLC164 180136764 GRAU CYNTHIA 193,100.00 1 1,694.59 193,100.00 74.9
MLC164 180138786 WORMLY VERNA V 84,906.00 1 737.28 84,906.00 90.0
MLC164 180139693 BARNES CRAIG C 85,000.00 1 785.48 84,967.12 85.0
MLC164 180140949 OWEN LINDA M 121,800.00 5 947.35 121,728.09 70.0
MLC164 180140964 OLIVERI MELCHIORRA 81,450.00 1 722.32 81,414.91 90.0
MLC164 180142341 MEYERS GLEN 135,150.00 1 1,223.66 135,150.00 85.0
MLC164 180144784 GILLIGAN MICHAEL S 47,950.00 1 364.45 47,920.20 70.0
MLC164 180145096 JACKSON TREBOR J 64,350.00 1 576.64 64,323.02 90.0
MLC164 180145146 BAILEY JESSE L 62,900.00 8 563.65 62,873.62 89.9
MLC164 180146375 BLACKMON BOBBY DALE 58,500.00 7 613.81 58,434.63 90.0
MLC164 180146425 BAKER WILLIAM M JR 61,200.00 1 514.60 61,200.00 90.0
MLC164 180147837 GARDNER CURTIS L 172,800.00 1 1,374.87 172,800.00 80.0
MLC164 180149346 HOLCOMB JOANNE 95,850.00 1 876.78 95,811.91 87.9
MLC164 180149841 SIGLER GERALDINE A 120,000.00 1 1,292.36 119,970.14 80.0
MLC164 180150138 RIVIER JENNIFER 169,150.00 1 1,675.08 169,095.94 85.0
MLC164 180150930 REINIER MICHAEL J 56,185.00 1 447.03 56,153.50 85.1
MLC164 180151359 HENDERSON JAMES G 240,500.00 1 2,132.81 240,500.00 78.8
MLC164 180151516 REINHART MICHAEL K 73,600.00 1 632.34 73,531.04 80.0
<CAPTION>
Next Current Property
Adjustment Mortgage Value at Owner
Sale ID Account Date Rate Origination Occupied
- ------------------------------------------------------------------------------
<S> <C> <C> <C> <C>
MLC164 180003220 09/01/97 11.875 80,000.00 Y
MLC164 180015281 12/01/97 10.125 176,000.00 Y
MLC164 180024887 02/01/99 10.000 65,000.00 N
MLC164 180026718 11/01/97 10.875 103,000.00 Y
MLC164 180053449 01/01/99 10.875 65,000.00 Y
MLC164 180064248 12/01/97 9.875 105,000.00 Y
MLC164 180078024 02/01/99 11.000 91,000.00 Y
MLC164 180078792 02/01/99 9.750 190,800.00 N
MLC164 180083321 03/01/99 10.500 147,000.00 Y
MLC164 180085094 09/01/97 8.625 185,000.00 Y
MLC164 180091142 10/01/97 11.125 237,000.00 Y
MLC164 180091902 10/01/97 9.375 721,000.00 Y
MLC164 180097271 08/01/97 8.625 87,000.00 Y
MLC164 180097404 04/01/99 10.500 93,000.00 Y
MLC164 180098766 03/01/99 9.750 136,000.00 Y
MLC164 180101446 08/01/97 10.575 120,000.00 Y
MLC164 180101800 04/01/99 13.000 203,000.00 Y
MLC164 180103236 05/01/99 11.000 200,000.00 Y
MLC164 180105348 04/01/99 11.250 219,000.00 Y
MLC164 180107039 10/01/97 9.500 157,000.00 Y
MLC164 180110454 10/01/97 8.625 91,200.00 Y
MLC164 180110991 10/01/97 9.675 78,000.00 Y
MLC164 180118606 11/01/97 11.250 60,000.00 Y
MLC164 180121121 05/01/99 11.625 140,000.00 Y
MLC164 180123952 04/01/99 9.750 260,000.00 Y
MLC164 180125148 04/01/99 11.625 112,500.00 Y
MLC164 180125742 04/01/99 9.500 207,000.00 Y
MLC164 180126203 05/01/99 12.500 143,000.00 Y
MLC164 180127532 05/01/99 12.375 155,000.00 Y
MLC164 180128027 09/01/97 9.125 109,500.00 Y
MLC164 180128746 04/01/99 10.250 80,000.00 Y
MLC164 180129223 05/01/99 9.750 225,000.00 Y
MLC164 180130379 04/01/99 10.500 50,000.00 Y
MLC164 180130809 04/01/99 11.750 185,000.00 Y
MLC164 180130858 04/01/99 11.000 250,000.00 Y
MLC164 180133464 04/01/99 12.250 66,000.00 Y
MLC164 180134355 04/01/99 11.500 65,000.00 Y
MLC164 180135204 10/01/97 8.625 245,000.00 Y
MLC164 180135329 10/01/97 11.625 90,000.00 Y
MLC164 180135535 04/01/99 10.000 124,000.00 Y
MLC164 180135733 04/01/99 12.000 52,300.00 Y
MLC164 180136764 05/01/99 10.000 257,500.00 Y
MLC164 180138786 11/01/97 9.875 94,340.00 Y
MLC164 180139693 10/01/97 10.625 100,000.00 Y
MLC164 180140949 05/01/99 8.625 174,000.00 N
MLC164 180140964 05/01/99 10.125 90,500.00 Y
MLC164 180142341 11/01/97 10.375 159,000.00 Y
MLC164 180144784 04/01/99 8.375 68,500.00 N
MLC164 180145096 04/01/99 10.250 71,500.00 Y
MLC164 180145146 05/01/99 10.250 69,900.00 Y
MLC164 180146375 05/01/99 11.250 65,000.00 Y
MLC164 180146425 05/01/99 9.500 68,000.00 Y
MLC164 180147837 11/01/97 8.875 216,000.00 Y
MLC164 180149346 04/01/99 10.500 109,000.00 Y
MLC164 180149841 05/01/99 12.625 150,000.00 Y
MLC164 180150138 04/01/99 11.500 199,000.00 Y
MLC164 180150930 04/01/99 8.875 65,999.00 Y
MLC164 180151359 11/01/97 10.125 305,000.00 Y
MLC164 180151516 04/01/99 9.750 92,000.00 Y
</TABLE>
<PAGE>
Page 19 6/24/97
ALLIANCE FUNDING COMPANY
A DIVISION OF SUPERIOR BANK FSB
SALE SCHEDULE B
1997-2 CLASS 2 - INITIAL POOL OF ADJUSTABLE RATE MORTGAGES - SETTLEMENT 6/25/97
<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
- ----------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C>
MLC164 180151987 GROSSMAN YITZCHOK I 499,000.00 1 4,105.15 499,000.00 71.2
MLC164 180154197 JACKSON-HEAD DEVONE 68,000.00 1 719.15 68,000.00 80.0
MLC164 180154924 ROCCO GENNARO 50,210.00 1 440.63 50,210.00 80.9
MLC164 180155681 CARUSO ENRICO 147,500.00 1 1,121.11 147,408.32 85.5
MLC164 180156473 BRINSKY THOMAS S 180,000.00 1 1,816.94 180,000.00 80.0
MLC164 180156820 JOHNSON DAVID 105,000.00 4 854.31 105,000.00 80.7
MLC164 180157075 BURNS PATRICK 64,000.00 1 639.90 64,000.00 68.0
MLC164 180157612 ROLLE SYLVIA 52,700.00 1 496.90 52,680.69 85.0
MLC164 180158883 COLQUITT RONALD 34,450.00 1 305.51 34,420.20 89.9
MLC164 180160194 MOONEY WILLIAM M 198,000.00 1 1,575.38 198,000.00 90.0
MLC164 180162273 MITCHELL MICHAEL 112,200.00 1 1,068.51 112,159.99 85.0
MLC164 180163180 JONES MILTON WAYNE 55,920.00 1 475.31 55,811.56 80.0
MLC164 180164444 SILBER ZALMAN 399,000.00 3 3,501.51 399,000.00 70.0
MLC164 180167520 BRUNO VICTOR II 180,000.00 3 1,513.54 180,000.00 90.0
MLC164 180167546 MCCLAREN JOANN 57,600.00 4 526.89 57,577.11 60.0
MLC164 180167819 SMITH CHRISTINE 57,600.00 1 586.94 57,600.00 80.0
MLC164 180167934 SWETAVAGE JOSEPH J 46,500.00 1 353.43 46,471.10 66.4
MLC164 180168726 CROSBY EDNA I 55,200.00 1 494.65 55,200.00 77.7
MLC164 180168783 CRAWFORD RICHARD 133,450.00 1 1,245.73 133,450.00 85.0
MLC164 180169369 MOORE RUSSELL 139,500.00 3 1,211.35 139,500.00 90.0
MLC164 180169898 VAZZANO FRANK II 213,300.00 1 2,011.18 213,300.00 90.0
MLC164 180170052 IMBRO JOSEPH 111,350.00 1 1,008.17 111,350.00 85.0
MLC164 180173197 MCCANS ALAN L 76,500.00 1 679.84 76,467.22 90.0
MLC164 180173668 KRASLEY RICHARD 172,000.00 1 1,885.87 171,959.55 80.0
MLC164 180173890 SPINDELL RONALD 148,500.00 1 1,386.22 148,500.00 90.0
MLC164 180175457 MORELLS LISA B 50,150.00 1 477.59 50,150.00 85.0
MLC164 180176299 SAMMOND PATRICIA A 104,000.00 1 1,109.95 104,000.00 65.0
MLC164 180176745 DIAZ NICHOLAS A 93,500.00 1 864.03 93,463.83 85.0
MLC164 180178170 WALTERS VALERIE 234,000.00 3 2,184.35 233,911.90 90.0
MLC164 180180341 JACOBS ROBERTA J 72,000.00 1 651.89 72,000.00 90.0
MLC164 800187502 HAMZAH LEONA 46,750.00 1 393.10 46,727.00 85.0
---------------------------------------------------------- -----------------------------------------
90 Sale Total 10,797,306.00 97,299.89 10,792,317.53 81.2
90 Total with Merrill Lynch 10,797,306.00 97,299.89 10,792,317.53 81.2
<CAPTION>
Next Current Property
Adjustment Mortgage Value at Owner
Sale ID Account Date Rate Origination Occupied
- ------------------------------------------------------------------------------
<S> <C> <C> <C> <C>
MLC164 180151987 05/01/99 9.250 700,000.00 Y
MLC164 180154197 11/01/97 12.375 85,000.00 Y
MLC164 180154924 05/01/99 10.000 62,000.00 Y
MLC164 180155681 11/01/97 8.375 172,500.00 Y
MLC164 180156473 11/01/97 11.750 225,000.00 Y
MLC164 180156820 11/01/97 9.125 130,000.00 Y
MLC164 180157075 05/01/99 11.625 94,000.00 Y
MLC164 180157612 04/01/99 10.875 62,000.00 Y
MLC164 180158883 10/01/97 10.125 38,300.00 Y
MLC164 180160194 11/01/97 8.875 220,000.00 Y
MLC164 180162273 04/01/99 11.000 132,000.00 Y
MLC164 180163180 04/01/99 9.625 69,900.00 Y
MLC164 180164444 05/01/99 10.000 570,000.00 N
MLC164 180167520 05/01/99 9.500 200,000.00 Y
MLC164 180167546 05/01/99 10.500 96,000.00 N
MLC164 180167819 11/01/97 11.875 72,000.00 Y
MLC164 180167934 05/01/99 8.375 70,000.00 Y
MLC164 180168726 05/01/99 10.250 71,000.00 Y
MLC164 180168783 05/01/99 10.750 157,000.00 Y
MLC164 180169369 11/01/97 9.875 155,000.00 Y
MLC164 180169898 05/01/99 10.875 237,000.00 Y
MLC164 180170052 11/01/97 10.375 131,000.00 Y
MLC164 180173197 05/01/99 10.150 85,000.00 Y
MLC164 180173668 05/01/99 12.875 215,000.00 Y
MLC164 180173890 05/01/99 10.750 165,000.00 Y
MLC164 180175457 05/01/99 11.000 59,000.00 Y
MLC164 180176299 05/01/99 12.500 160,000.00 Y
MLC164 180176745 11/01/97 10.625 110,000.00 Y
MLC164 180178170 05/01/99 10.750 260,000.00 Y
MLC164 180180341 05/01/99 10.375 80,000.00 Y
MLC164 800187502 05/01/99 9.500 55,000.00 Y
------------ --------------------------
90 10.299 13,463,239.00
90 10.299 13,463,239.00
</TABLE>
<PAGE>
Page 20 6/24/97
ALLIANCE FUNDING COMPANY
A DIVISION OF SUPERIOR BANK FSB
SALE SCHEDULE B
1997-2 CLASS 2 - INITIAL POOL OF ADJUSTABLE RATE MORTGAGES - SETTLEMENT 6/25/97
<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
- ----------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C>
CPIAR 25908 KOMAREK RICHARD K 98,100.00 1 734.16 81,081.88 79.7
CPIAR 28159 COLEMAN VONCEIL Y 114,400.00 1 883.92 98,190.41 89.7
CPIAR 28282 FIORESI PETER J 117,600.00 1 909.32 101,012.29 78.4
CPIAR 31963 PETERSON SANDRA 85,500.00 1 652.75 78,822.30 89.0
CPIAR 47142 HOWELL JANET L 120,000.00 1 908.74 110,133.99 70.5
CPIAR 48868 MC DONNELL ALICE M 70,000.00 1 514.81 63,741.32 28.2
CPIAR 50682 SEFCIK SALLY A 23,200.00 2 176.72 21,704.28 76.8
CPIAR 51086 BAKER WILLIAM N 207,000.00 1 1,520.45 193,657.92 79.4
CPIAR 51516 CONNERY MICHAEL J 353,000.00 1 2,678.33 330,649.91 44.1
CPIAR 53116 FREGEAU WAYNE E 148,800.00 1 1,122.97 139,593.88 74.4
CPIAR 54791 SERFLING JOHN L 49,500.00 2 323.45 39,863.33 79.8
CPIAR 54809 ZILINSKY PATRICIA R 105,000.00 1 809.58 99,868.25 82.6
CPIAR 55475 KRIPS JAMES R SR 95,000.00 1 286.78 23,069.95 73.0
CPIAR 55566 ZACCARI CAROL 59,000.00 1 374.78 47,052.53 58.4
CPIAR 55673 BEUSSE JAMES W 160,000.00 1 1,201.22 151,766.54 82.0
CPIAR 55798 CURIN RICHARD 150,000.00 1 1,090.74 142,151.13 56.6
CPIAR 55905 TALLEY JOHN S SR 103,000.00 3 773.95 97,874.45 78.0
CPIAR 55954 THOM ROBERT K 99,000.00 1 745.48 94,187.16 79.8
CPIAR 55996 MILEWSKI EDWARD R 56,500.00 1 419.89 53,671.54 35.3
CPIAR 56010 MALKUSAK FRIEDA 47,200.00 2 355.47 44,641.07 80.0
CPIAR 56242 WOOD KINGSLEY JR 42,300.00 2 317.44 40,143.54 90.0
CPIAR 56598 HENNING CLYDE L 40,000.00 1 300.18 37,926.43 29.8
CPIAR 56978 BEWLEY GREGORY 80,000.00 1 593.77 75,969.26 80.0
CPIAR 57059 HOSPODAR LINDA M 54,500.00 2 383.46 48,909.19 75.1
CPIAR 57067 SCHOPPE JOHN M 62,300.00 1 463.27 59,272.86 72.8
CPIAR 57075 DIEFENBACH BETH A 43,500.00 2 327.53 41,419.92 77.6
CPIAR 57315 OLSON SCOTT H 220,000.00 1 1,641.27 212,078.62 80.0
CPIAR 57349 CROWELL SCOT M 77,000.00 1 580.27 73,516.31 73.3
CPIAR 57489 FLOWERS GREGORY M 80,800.00 1 614.83 77,067.06 80.0
CPIAR 58115 WINTER THERESA L 156,000.00 1 1,158.12 148,723.28 80.0
CPIAR 58545 MICHAELS ERIC M 299,000.00 2 2,318.74 285,038.16 81.9
CPIAR 58867 DURKIN LARRY R 55,000.00 2 400.22 50,368.95 52.3
CPIAR 59188 GIGNAC GEORGE F 73,000.00 1 541.03 69,603.10 67.5
CPIAR 59469 WITT ROBERT H 70,000.00 1 525.88 66,758.05 85.3
CPIAR 59964 SEMENEK NANCY A 76,500.00 1 577.42 72,721.97 62.1
CPIAR 59972 LANE ALLAN 100,000.00 1 760.17 95,783.86 62.5
CPIAR 60384 FELKER ROBERT F 59,500.00 1 436.84 56,971.17 72.5
CPIAR 60574 WEITL JAMES H 29,000.00 1 210.18 27,689.95 14.8
CPIAR 60962 FLANAGAN THOMAS 90,000.00 1 667.23 86,142.05 75.0
CPIAR 61036 FUNG LANCE 100,000.00 1 950.52 84,546.78 45.4
CPIAR 61259 MONTVILAS JANE A 60,800.00 2 452.14 58,423.08 80.0
CPIAR 61325 MODZELEWSKI JOHN F 306,000.00 1 2,271.69 293,285.09 78.4
CPIAR 61382 SALIK PETER 133,000.00 1 965.10 124,598.51 70.0
CPIAR 61978 MILEWSKI EDWARD R 103,000.00 1 767.43 99,249.70 73.5
CPIAR 62166 BOKENKAMP KURT M 119,250.00 1 882.41 114,021.29 90.0
CPIAR 62224 GRAGER EDWARD 94,000.00 1 708.50 90,702.94 79.6
CPIAR 62638 BEDNAR WILLIAM 134,500.00 1 1,015.98 128,655.19 81.0
CPIAR 62661 WOOD DENNIS E 115,000.00 1 853.32 110,357.09 82.1
CPIAR 62836 SHILTZ JAMES C 225,000.00 1 1,697.19 217,096.72 90.0
CPIAR 63032 OCASIO JANICE M 38,000.00 1 283.05 36,667.64 40.4
CPIAR 64659 SMITHEY DONNA 184,000.00 1 1,346.65 174,101.76 89.7
CPIAR 66191 DRNEK JOAN E 60,000.00 2 449.27 58,200.66 66.6
CPIAR 66571 FULLER DONNA RAE 135,000.00 1 1,018.04 130,757.46 48.2
CPIAR 67280 CONNER CHARLENE K 65,000.00 1 500.13 62,748.59 50.3
CPIAR 68668 WONSOWSKI EDWARD H 57,400.00 1 406.28 55,292.16 68.3
CPIAR 77644 BALAGTAS RAUL 37,500.00 3 283.96 36,559.72 75.0
CPIAR 80663 MC MICHAEL RUTH 98,000.00 1 741.73 95,469.79 89.9
CPIAR 81570 BAHENA RAUL 255,000.00 1 1,782.69 237,358.14 83.6
CPIAR 82040 WALLS LUCINDA 71,000.00 1 538.47 69,435.12 74.7
<CAPTION>
Next Current Property
Adjustment Mortgage Value at Owner
Sale ID Account Date Rate Origination Occupied
- ------------------------------------------------------------------------------
<S> <C> <C> <C> <C>
CPIAR 25908 05/01/98 8.500 123,000.00 Y
CPIAR 28159 08/01/97 8.500 127,500.00 Y
CPIAR 28282 08/01/97 8.500 150,000.00 Y
CPIAR 31963 07/01/97 8.375 96,000.00 Y
CPIAR 47142 06/01/98 8.500 170,000.00 Y
CPIAR 48868 04/01/98 8.375 248,000.00 Y
CPIAR 50682 07/01/97 8.500 30,200.00 Y
CPIAR 51086 11/01/97 8.125 260,500.00 Y
CPIAR 51516 12/01/97 8.500 800,000.00 Y
CPIAR 53116 06/01/98 8.500 200,000.00 Y
CPIAR 54791 09/01/97 8.625 62,000.00 Y
CPIAR 54809 09/01/97 8.625 127,000.00 Y
CPIAR 55475 10/01/97 7.500 130,000.00 Y
CPIAR 55566 11/01/97 8.125 101,000.00 Y
CPIAR 55673 12/01/97 8.375 195,000.00 Y
CPIAR 55798 11/01/97 8.000 265,000.00 Y
CPIAR 55905 01/01/98 8.375 132,000.00 Y
CPIAR 55954 12/01/97 8.375 124,000.00 Y
CPIAR 55996 01/01/98 8.250 160,000.00 Y
CPIAR 56010 12/01/97 8.375 59,000.00 Y
CPIAR 56242 01/01/98 8.375 47,000.00 Y
CPIAR 56598 12/01/97 8.375 134,000.00 Y
CPIAR 56978 02/01/98 8.250 100,000.00 Y
CPIAR 57059 02/01/98 8.250 72,500.00 Y
CPIAR 57067 02/01/98 8.250 85,500.00 N
CPIAR 57075 02/01/98 8.375 56,000.00 Y
CPIAR 57315 02/01/98 8.250 275,000.00 Y
CPIAR 57349 03/01/98 8.375 105,000.00 Y
CPIAR 57489 03/01/98 8.500 101,000.00 Y
CPIAR 58115 06/01/98 8.250 195,000.00 Y
CPIAR 58545 06/01/98 8.750 365,000.00 Y
CPIAR 58867 06/01/98 8.375 105,000.00 Y
CPIAR 59188 08/01/97 8.250 108,000.00 Y
CPIAR 59469 07/01/97 8.375 82,000.00 Y
CPIAR 59964 09/01/97 8.500 123,000.00 Y
CPIAR 59972 09/01/97 8.500 160,000.00 Y
CPIAR 60384 11/01/97 8.125 82,000.00 Y
CPIAR 60574 10/01/97 8.000 195,500.00 Y
CPIAR 60962 12/01/97 8.250 120,000.00 Y
CPIAR 61036 01/01/98 8.250 220,000.00 Y
CPIAR 61259 01/01/98 8.250 76,000.00 Y
CPIAR 61325 12/01/97 8.250 390,000.00 Y
CPIAR 61382 12/01/97 8.250 190,000.00 Y
CPIAR 61978 02/01/98 8.250 140,000.00 Y
CPIAR 62166 01/01/98 8.250 132,500.00 Y
CPIAR 62224 03/01/98 8.375 118,000.00 Y
CPIAR 62638 03/01/98 8.500 166,000.00 Y
CPIAR 62661 02/01/98 8.250 140,000.00 Y
CPIAR 62836 02/01/98 8.375 250,000.00 Y
CPIAR 63032 04/01/98 8.250 94,000.00 Y
CPIAR 64659 04/01/98 8.250 205,000.00 Y
CPIAR 66191 04/01/98 8.250 90,000.00 Y
CPIAR 66571 07/01/97 8.375 280,000.00 Y
CPIAR 67280 05/01/98 8.625 129,000.00 Y
CPIAR 68668 06/01/98 7.625 84,000.00 Y
CPIAR 77644 10/01/97 8.375 50,000.00 Y
CPIAR 80663 10/01/97 8.375 109,000.00 Y
CPIAR 81570 10/01/97 8.000 305,000.00 Y
CPIAR 82040 12/01/97 8.375 95,000.00 Y
</TABLE>
<PAGE>
Page 21 6/24/97
ALLIANCE FUNDING COMPANY
A DIVISION OF SUPERIOR BANK FSB
SALE SCHEDULE B
1997-2 CLASS 2 - INITIAL POOL OF ADJUSTABLE RATE MORTGAGES - SETTLEMENT 6/25/97
<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
- ----------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C>
CPIAR 82636 EBERLEN SANDRA J 115,000.00 1 841.96 112,197.94 58.9
CPIAR 88526 POLLARD THOMAS E 155,000.00 1 1,191.82 152,552.84 53.4
CPIAR 500041 FENN JANICE 140,850.00 1 1,059.83 133,063.78 90.0
CPIAR 500058 RABATIN A J 287,430.00 1 2,201.65 273,420.21 89.8
CPIAR 500082 ORTIZ GILBERT J 86,800.00 1 653.36 82,156.40 80.0
CPIAR 500124 BANIA HENRY 77,200.00 2 584.85 73,541.88 80.0
CPIAR 500413 HARRISON MICHAEL L 115,100.00 2 787.08 92,151.13 89.9
CPIAR 500454 SMITH ROBERT D 350,000.00 5 2,662.93 331,652.70 63.6
CPIAR 500462 JARZAB BERNADINE 30,000.00 1 228.14 28,386.10 20.9
CPIAR 500496 KLINGBEIL THOMAS H 59,000.00 1 387.13 46,297.94 70.2
CPIAR 500561 COONEY ROBERT J 107,000.00 3 777.43 101,246.27 73.7
CPIAR 500660 RYAN PAUL J 178,000.00 1 1,325.66 161,052.13 82.7
CPIAR 500819 DELWO LEROY W 70,000.00 2 405.61 65,747.34 77.7
CPIAR 500967 DORSEY STEVEN T 120,000.00 1 901.93 113,600.96 80.0
CPIAR 500983 KONOPKA THOMAS 136,000.00 1 1,021.38 128,924.84 80.0
CPIAR 501015 LOEFFLER JOSEPH E 112,000.00 1 841.69 106,142.81 80.0
CPIAR 501023 KOZLOWSKI BRUCE A 210,000.00 1 1,578.30 199,034.04 70.0
CPIAR 501056 ROYHL JOHN C 129,600.00 1 940.93 122,662.73 80.0
CPIAR 501098 APOLLON NICK 139,200.00 1 1,037.67 132,639.43 77.3
CPIAR 501213 WALLACE HARRISON W JR 100,000.00 1 690.77 89,332.69 47.6
CPIAR 501304 LYONS JOHN K 203,000.00 2 1,482.11 193,212.10 89.8
CPIAR 501411 ZEILENGA KATHLEEN A 105,000.00 1 762.68 99,425.40 55.2
CPIAR 501460 STRASS KENNETH F JR 82,500.00 1 417.75 52,347.73 49.1
CPIAR 501536 WITUCKI THOMAS E 109,000.00 1 791.93 103,238.01 68.1
CPIAR 501577 MORRELL EDWARD L 400,000.00 1 3,003.05 379,416.30 52.6
CPIAR 501650 MARTIS PATRICIA M 44,000.00 2 330.17 41,715.39 80.0
CPIAR 501718 PEREZ RICHARD A 139,200.00 1 1,332.97 112,031.42 80.0
CPIAR 501874 WALSH MICHAEL 302,400.00 3 2,246.89 287,207.38 80.0
CPIAR 501973 LUCIBELLO LANCE A 125,000.00 1 939.03 118,529.78 54.3
CPIAR 502252 NORBY RICHARD A 138,000.00 1 1,026.52 131,337.75 75.0
CPIAR 502286 STAMPER FORREST ALAN 381,900.00 1 2,778.67 345,225.39 77.9
CPIAR 502351 FRIEDMAN MARK 151,300.00 2 1,141.27 144,191.79 79.8
CPIAR 502617 HOLSTEAD GARRETT R 160,000.00 1 1,190.55 152,324.85 77.6
CPIAR 502666 BOYD ROBERT J 183,100.00 1 1,382.19 174,631.41 79.9
CPIAR 502682 WOODS JOSEPH 170,000.00 1 1,265.02 161,700.23 70.2
CPIAR 502716 SALCEDA JOHN F 213,750.00 1 1,560.95 199,527.96 75.0
CPIAR 502773 COE ROBERT A 90,000.00 2 676.85 85,752.00 30.4
CPIAR 502815 ROCHE CHARLES T 175,000.00 1 683.18 66,074.35 54.6
CPIAR 502898 MITROVICH NICHOLAS 102,300.00 2 764.17 97,771.31 79.9
CPIAR 502930 SCHABER STEPHEN J 143,000.00 1 1,062.11 135,763.21 77.2
CPIAR 502997 COHEN BARRY P 148,000.00 1 1,099.72 140,964.90 80.0
CPIAR 503144 EICK STEPHEN G 97,600.00 1 721.15 92,267.85 77.4
CPIAR 503185 WILSON JAMES P 70,500.00 1 527.01 67,428.59 75.0
CPIAR 503235 BURKE KEVIN M 60,000.00 1 447.75 57,394.52 58.2
CPIAR 503292 CARAVELLO DANIEL A 236,000.00 1 1,775.92 225,605.81 80.0
CPIAR 503458 GUYNN TODD P 140,000.00 2 1,039.84 133,290.28 66.6
CPIAR 503466 OMALLEY CHARLES A 76,500.00 1 575.60 72,868.48 85.0
CPIAR 503573 TREMMEL THOMAS J 52,200.00 2 392.76 49,714.68 87.0
CPIAR 503607 JANG HOSANG 95,200.00 1 724.70 90,998.95 80.0
CPIAR 504100 LINSENMEYER TIM 102,000.00 1 766.06 97,184.54 87.1
CPIAR 504118 MILLS FREDERICK L III 118,300.00 2 885.09 111,108.00 89.9
CPIAR 504167 GANELLIN BEATRICE 500,000.00 1 3,804.15 477,260.07 51.2
CPIAR 504183 RODRIGUEZ ROBERT 209,950.00 1 1,184.38 196,083.56 85.0
CPIAR 504209 JAMES TERRIE Y 104,000.00 1 789.53 99,140.03 80.0
CPIAR 504308 FABRIGAS JANET L 98,300.00 2 745.84 93,635.59 69.7
CPIAR 504365 BONET CARLOS M 101,000.00 1 761.11 96,687.88 63.1
CPIAR 504431 KALAL ALICE 143,000.00 10 1,076.09 136,823.78 70.6
CPIAR 504456 KALAL ALICE 143,000.00 10 1,076.09 136,823.78 73.3
CPIAR 504464 KALAL ALICE 160,000.00 10 1,204.02 153,089.62 78.0
<CAPTION>
Next Current Property
Adjustment Mortgage Value at Owner
Sale ID Account Date Rate Origination Occupied
- ------------------------------------------------------------------------------
<S> <C> <C> <C> <C>
CPIAR 82636 11/01/97 8.000 195,000.00 Y
CPIAR 88526 06/01/98 8.500 290,000.00 Y
CPIAR 500041 06/01/98 8.375 156,500.00 Y
CPIAR 500058 05/01/98 8.500 320,000.00 Y
CPIAR 500082 07/01/97 8.375 108,500.00 Y
CPIAR 500124 07/01/97 8.375 96,500.00 N
CPIAR 500413 08/01/97 8.500 128,000.00 Y
CPIAR 500454 08/01/97 8.500 550,000.00 Y
CPIAR 500462 08/01/97 8.500 143,000.00 Y
CPIAR 500496 08/01/97 8.500 84,000.00 N
CPIAR 500561 11/01/97 8.000 145,000.00 N
CPIAR 500660 09/01/97 8.625 215,000.00 Y
CPIAR 500819 10/01/97 5.625 90,000.00 Y
CPIAR 500967 10/01/97 8.375 150,000.00 Y
CPIAR 500983 12/01/97 8.375 170,000.00 Y
CPIAR 501015 10/01/97 8.375 140,000.00 Y
CPIAR 501023 10/01/97 8.375 300,000.00 Y
CPIAR 501056 11/01/97 8.000 162,000.00 Y
CPIAR 501098 01/01/98 8.250 180,000.00 Y
CPIAR 501213 11/01/97 8.000 210,000.00 Y
CPIAR 501304 11/01/97 8.000 226,000.00 Y
CPIAR 501411 11/01/97 8.000 190,000.00 Y
CPIAR 501460 01/01/98 8.250 168,000.00 Y
CPIAR 501536 11/01/97 8.000 160,000.00 Y
CPIAR 501577 12/01/97 8.375 760,000.00 Y
CPIAR 501650 12/01/97 8.375 55,000.00 Y
CPIAR 501718 12/01/97 8.375 174,000.00 Y
CPIAR 501874 01/01/98 8.250 378,000.00 Y
CPIAR 501973 12/01/97 8.375 230,000.00 Y
CPIAR 502252 02/01/98 8.250 184,000.00 Y
CPIAR 502286 03/01/98 8.375 490,000.00 Y
CPIAR 502351 12/01/97 8.375 189,500.00 Y
CPIAR 502617 02/01/98 8.250 206,000.00 Y
CPIAR 502666 12/01/97 8.375 229,000.00 Y
CPIAR 502682 01/01/98 8.250 242,000.00 Y
CPIAR 502716 01/01/98 8.250 285,000.00 Y
CPIAR 502773 03/01/98 8.375 296,000.00 Y
CPIAR 502815 03/01/98 8.375 320,000.00 Y
CPIAR 502898 02/01/98 8.250 128,000.00 Y
CPIAR 502930 01/01/98 8.250 185,000.00 Y
CPIAR 502997 04/01/98 8.250 185,000.00 Y
CPIAR 503144 02/01/98 8.250 126,000.00 Y
CPIAR 503185 02/01/98 8.250 94,000.00 Y
CPIAR 503235 04/01/98 8.250 103,000.00 Y
CPIAR 503292 06/01/98 8.375 295,000.00 Y
CPIAR 503458 04/01/98 8.250 210,000.00 Y
CPIAR 503466 03/01/98 8.375 90,000.00 Y
CPIAR 503573 03/01/98 8.375 60,000.00 Y
CPIAR 503607 05/01/98 8.500 119,000.00 Y
CPIAR 504100 06/01/98 8.375 117,000.00 Y
CPIAR 504118 05/01/98 8.500 131,490.00 Y
CPIAR 504167 05/01/98 8.500 975,000.00 Y
CPIAR 504183 04/01/98 5.500 247,000.00 Y
CPIAR 504209 05/01/98 8.500 130,000.00 Y
CPIAR 504308 05/01/98 8.500 141,000.00 Y
CPIAR 504365 06/01/98 8.375 160,000.00 Y
CPIAR 504431 07/01/97 8.375 202,500.00 N
CPIAR 504456 07/01/97 8.375 195,000.00 N
CPIAR 504464 07/01/97 8.375 205,000.00 N
</TABLE>
<PAGE>
Page 22 6/24/97
ALLIANCE FUNDING COMPANY
A DIVISION OF SUPERIOR BANK FSB
SALE SCHEDULE B
1997-2 CLASS 2 - INITIAL POOL OF ADJUSTABLE RATE MORTGAGES - SETTLEMENT 6/25/97
<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
- ----------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C>
CPIAR 504522 MUELLEMANN JOHN E 112,000.00 1 831.47 106,872.14 80.0
CPIAR 504712 MORAN LISA N 228,000.00 1 1,672.49 217,139.55 79.4
CPIAR 504720 CARROLL RONALD W 277,000.00 1 2,082.74 264,817.76 39.5
CPIAR 504803 ALOMAR ROSANNE 19,000.00 2 141.82 18,032.76 54.2
CPIAR 504860 MARKIEWICZ PHILIP A 125,000.00 2 907.53 119,673.77 70.6
CPIAR 504878 MARKIEWICZ PHILIP A 125,000.00 2 907.53 119,673.77 70.6
CPIAR 505123 TAYLOR LISA RENEE 105,200.00 2 790.28 100,417.66 87.6
CPIAR 505214 HULKA STEVEN A 112,950.00 1 829.35 101,918.32 89.6
CPIAR 505222 BAKER BENJAMIN MARK 58,000.00 1 436.49 55,384.27 80.0
CPIAR 505297 KRUPNICK ASHER 88,000.00 1 662.21 84,199.08 80.0
CPIAR 505305 GASS JAMES E 153,300.00 1 1,097.43 144,449.94 89.9
CPIAR 505412 RATTRAY ATLEY G 98,400.00 1 740.47 94,150.08 80.0
CPIAR 505446 GREEN LEE M JR 65,200.00 1 628.75 54,291.78 80.0
CPIAR 505511 MURPHY THOMAS J 175,000.00 1 1,345.96 167,644.53 68.6
CPIAR 505545 CINFIO DOMINIC C 145,000.00 1 1,081.42 137,192.80 61.1
CPIAR 505560 NIELSEN BRIAN L 122,800.00 1 934.26 117,619.07 79.7
CPIAR 505727 OBRECHT KENNETH W 114,400.00 1 869.64 109,483.21 80.0
CPIAR 505743 SCHMIDT FRANKLIN K 124,000.00 1 942.61 118,771.89 80.0
CPIAR 506048 MINTER SHARON M 70,700.00 2 524.86 67,583.79 76.8
CPIAR 506071 GALUK CONRAD P 93,300.00 1 698.60 90,192.87 57.5
CPIAR 506154 HRUSTEK ANTHONY 67,000.00 2 497.39 64,215.73 53.1
CPIAR 506295 STOCKER JOHN J 285,300.00 1 2,118.02 272,098.47 90.0
CPIAR 506345 MAZZUCCHELLI MARVIN J 172,000.00 1 1,246.56 164,078.73 74.7
CPIAR 506386 CURYLO MICHAEL A 73,000.00 2 522.74 62,893.27 79.3
CPIAR 506527 PALM LINDA 95,900.00 2 704.25 90,682.37 68.0
CPIAR 506618 KOVILPARAMBI ANTONY X 120,750.00 1 896.43 115,428.23 75.0
CPIAR 506717 GARCIA DAGOBERTO J 75,500.00 2 546.81 72,041.37 89.8
CPIAR 506725 NICCOLAI LYNN B 57,000.00 2 423.16 54,487.79 89.0
CPIAR 506733 MUTH STEVEN A 168,000.00 1 1,174.47 154,458.14 71.4
CPIAR 506766 OLLIGES MARTIN 106,425.00 1 770.53 99,304.75 73.6
CPIAR 506816 GRVELES DENNIS J 89,000.00 1 658.89 84,917.47 79.4
CPIAR 506923 DOMINGUEZ CLETO 44,000.00 3 319.45 42,125.06 44.0
CPIAR 507046 MASCHEK LINDA J 105,000.00 2 791.07 100,847.23 75.0
CPIAR 507293 REMERS FRED W 74,000.00 1 535.91 70,604.50 79.5
CPIAR 507483 WODRICH HELEN W 95,900.00 2 696.25 91,813.59 79.9
CPIAR 507566 FECAROTTA GARY A 72,000.00 1 521.83 68,812.49 72.0
CPIAR 507624 TASSONE BRUNO F 196,000.00 1 1,455.07 187,527.54 80.0
CPIAR 507921 PODBEVSEK CHARLENE M 131,900.00 1 969.84 125,048.10 74.5
CPIAR 507954 SUTHERLIN HENRY B 71,100.00 1 525.51 67,816.79 83.6
CPIAR 507962 BAILEY RONALD J 120,000.00 1 903.75 115,408.53 50.0
CPIAR 508135 LESIAK JOSEPH E 88,000.00 1 825.96 74,369.10 77.8
CPIAR 508200 CHUNG SAMUEL 60,000.00 2 445.43 57,506.52 66.6
CPIAR 508234 NIELSEN BRIAN 68,800.00 2 517.30 66,059.28 80.0
CPIAR 508317 MIERZWINSKI WALTER S 84,000.00 2 622.71 80,394.22 80.0
CPIAR 508366 KOVACH KAREN W 378,000.00 2 2,805.16 362,157.84 74.4
CPIAR 508457 REHFELDT JADA M 60,800.00 1 451.37 58,222.79 80.0
CPIAR 508473 LESHINSKI BRUCE A 180,000.00 1 1,311.32 169,149.06 80.0
CPIAR 508978 CAITHAMER MICHAEL J 147,000.00 1 1,114.32 142,345.64 70.1
CPIAR 508994 WILHITE GARY L 132,000.00 2 960.79 123,632.78 77.6
CPIAR 509018 LAWLESS JAMES J 106,100.00 1 787.67 101,779.21 89.9
CPIAR 509133 RODRIGUEZ MARC D 117,300.00 1 872.64 112,759.28 67.8
CPIAR 509182 MANSFIELD ROBERT C 180,000.00 1 1,320.38 172,353.61 90.0
CPIAR 509190 PEREZ JR. JORGE R 144,000.00 1 1,071.73 138,484.87 80.0
CPIAR 509208 KLEINSCHMIDT AMY L 70,000.00 1 527.57 67,371.15 65.1
CPIAR 509315 REITER THOMAS W 120,000.00 1 893.78 115,490.36 67.4
CPIAR 509331 COLWELL JOHN C 218,000.00 1 1,637.56 209,117.10 88.2
CPIAR 509380 SINGLETON NETTYE 136,500.00 1 1,014.22 131,165.82 74.1
CPIAR 510040 LUNDY STEVEN D 365,000.00 1 2,713.89 350,978.88 69.5
CPIAR 510057 SCHACHMAN DAVID 375,000.00 1 2,788.55 360,634.96 75.0
<CAPTION>
Next Current Property
Adjustment Mortgage Value at Owner
Sale ID Account Date Rate Origination Occupied
- ------------------------------------------------------------------------------
<S> <C> <C> <C> <C>
CPIAR 504522 07/01/97 8.250 140,000.00 Y
CPIAR 504712 07/01/97 8.125 287,000.00 Y
CPIAR 504720 07/01/97 8.375 700,000.00 Y
CPIAR 504803 07/01/97 8.375 35,000.00 Y
CPIAR 504860 11/01/97 8.000 177,000.00 Y
CPIAR 504878 11/01/97 8.000 177,000.00 Y
CPIAR 505123 08/01/97 8.375 120,000.00 Y
CPIAR 505214 09/01/97 8.625 126,000.00 Y
CPIAR 505222 06/01/98 8.375 72,500.00 Y
CPIAR 505297 07/01/97 8.375 110,000.00 Y
CPIAR 505305 09/01/97 8.000 170,500.00 Y
CPIAR 505412 07/01/97 8.375 123,000.00 Y
CPIAR 505446 07/01/97 8.500 81,500.00 Y
CPIAR 505511 09/01/97 8.625 255,000.00 Y
CPIAR 505545 07/01/97 8.375 237,000.00 Y
CPIAR 505560 08/01/97 8.500 154,000.00 Y
CPIAR 505727 08/01/97 8.500 143,000.00 Y
CPIAR 505743 09/01/97 8.500 155,000.00 Y
CPIAR 506048 09/01/97 8.250 92,000.00 Y
CPIAR 506071 01/01/98 8.250 162,000.00 Y
CPIAR 506154 12/01/97 8.250 126,000.00 Y
CPIAR 506295 08/01/97 8.250 317,000.00 Y
CPIAR 506345 09/01/97 8.000 230,000.00 Y
CPIAR 506386 09/01/97 8.625 92,000.00 Y
CPIAR 506527 09/01/97 8.250 141,000.00 Y
CPIAR 506618 10/01/97 8.250 161,000.00 Y
CPIAR 506717 10/01/97 8.000 84,000.00 Y
CPIAR 506725 09/01/97 8.250 64,000.00 Y
CPIAR 506733 11/01/97 8.000 235,000.00 Y
CPIAR 506766 10/01/97 8.250 144,500.00 Y
CPIAR 506816 10/01/97 8.250 112,000.00 Y
CPIAR 506923 11/01/97 8.000 100,000.00 Y
CPIAR 507046 10/01/97 8.375 140,000.00 Y
CPIAR 507293 10/01/97 8.000 93,000.00 Y
CPIAR 507483 11/01/97 8.000 120,000.00 Y
CPIAR 507566 11/01/97 8.000 100,000.00 Y
CPIAR 507624 10/01/97 8.250 245,000.00 Y
CPIAR 507921 12/01/97 8.250 177,000.00 Y
CPIAR 507954 12/01/97 8.250 85,000.00 Y
CPIAR 507962 12/01/97 8.375 240,000.00 Y
CPIAR 508135 11/01/97 8.000 113,000.00 Y
CPIAR 508200 12/01/97 8.250 90,000.00 Y
CPIAR 508234 12/01/97 8.375 86,000.00 Y
CPIAR 508317 12/01/97 8.250 105,000.00 N
CPIAR 508366 12/01/97 8.250 508,000.00 Y
CPIAR 508457 12/01/97 8.250 76,000.00 Y
CPIAR 508473 12/01/97 8.250 225,000.00 Y
CPIAR 508978 03/01/98 8.375 209,500.00 Y
CPIAR 508994 12/01/97 8.250 170,000.00 Y
CPIAR 509018 01/01/98 8.250 118,000.00 Y
CPIAR 509133 01/01/98 8.250 173,000.00 Y
CPIAR 509182 12/01/97 8.125 200,000.00 Y
CPIAR 509190 01/01/98 8.250 180,000.00 Y
CPIAR 509208 12/01/97 8.375 107,500.00 Y
CPIAR 509315 01/01/98 8.250 178,000.00 Y
CPIAR 509331 12/01/97 8.375 247,000.00 Y
CPIAR 509380 02/01/98 8.250 184,000.00 Y
CPIAR 510040 02/01/98 8.250 525,000.00 Y
CPIAR 510057 02/01/98 8.250 500,000.00 Y
</TABLE>
<PAGE>
Page 23 6/24/97
ALLIANCE FUNDING COMPANY
A DIVISION OF SUPERIOR BANK FSB
SALE SCHEDULE B
1997-2 CLASS 2 - INITIAL POOL OF ADJUSTABLE RATE MORTGAGES - SETTLEMENT 6/25/97
<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
- ----------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C>
CPIAR 510081 BUCHTA ROBERT M 120,000.00 1 710.78 90,995.82 48.9
CPIAR 510263 MAMACH HARRY 101,500.00 1 756.03 97,691.62 70.0
CPIAR 510420 WANG JERRY W 208,600.00 1 1,493.81 193,189.06 70.0
CPIAR 510578 CODY LAURA J 75,000.00 2 536.73 69,413.94 89.2
CPIAR 510792 MEHTA SHIRISH C 74,000.00 1 551.04 71,203.22 69.1
CPIAR 511170 TALENTO ROMEO G 97,600.00 1 734.50 94,032.49 80.0
CPIAR 511261 JOSEPH MARTIN D 160,000.00 1 1,191.78 154,390.38 80.0
CPIAR 511766 KREBS LISA ANN 100,000.00 1 699.22 97,106.35 80.0
---------------------------------------------------------- -----------------------------------------
185 Sale Total 23,753,055.00 175,530.98 22,228,078.66 73.6
185 Total with Superior Bank Retail 23,753,055.00 175,530.98 22,228,078.66 73.6
1,002 Grand Total 120,813,711.00 1,061,100.78 119,164,842.18 78.7
<CAPTION>
Next Current Property
Adjustment Mortgage Value at Owner
Sale ID Account Date Rate Origination Occupied
- ------------------------------------------------------------------------------
<S> <C> <C> <C> <C>
CPIAR 510081 03/01/98 8.375 245,000.00 Y
CPIAR 510263 02/01/98 8.250 145,000.00 Y
CPIAR 510420 02/01/98 8.250 298,000.00 Y
CPIAR 510578 02/01/98 8.250 84,000.00 Y
CPIAR 510792 02/01/98 8.250 107,000.00 N
CPIAR 511170 03/01/98 8.375 122,000.00 Y
CPIAR 511261 04/01/98 8.250 200,000.00 Y
CPIAR 511766 06/01/98 7.500 125,000.00 Y
------------ --------------------------
185 8.275 33,895,190.00
185 8.275 33,895,190.00
1,002 10.045 157,704,983.00
</TABLE>
<PAGE>
EXHIBIT I
REQUEST FOR RELEASE OF DOCUMENTS
_____________, 19__
To: [Trustee]
[Custodian]
Re: Pooling and Servicing Agreement, dated as of June 1, 1997 (the
"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 1997-2
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 pursuant to the Pooling and Servicing Agreement, 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
____ 4. Mortgage Loan repurchased pursuant to Section 11.01 of the Poolin
and Servicing Agreement.
<PAGE>
____ 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 June 1, 1997 (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.)
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
<PAGE>
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 1997-2
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
1997-2, Class R (the "Certificate"), pursuant to Section 4.02 of the Pooling and
Servicing Agreement (the "Pooling and Servicing Agreement"), dated as of June 1,
1997, 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
SPECIAL POWER OF ATTORNEY
KNOW ALL MEN BY THESE PRESENTS, that I, __________________________, of
____________________ (the "Depositor"), do hereby constitute and appoint LaSalle
National Bank, as the true and lawful attorney, for the Depositor and in its
name, place and stead, to record the assignments of mortgage with respect to the
Mortgage Loans transferred to LaSalle National Bank, as trustee (the "Trustee"),
under that Pooling and Servicing Agreement dated as of June 1, 1997 by and among
the Depositor, the Trustee and Lee Servicing Company, a division of Superior
Bank FSB, as servicer, and to do and perform all other things and acts relating
to such assignments of mortgage as may be necessary to effectuate the transfer
of such Mortgage Loans to the Trustee, including the execution and delivery of
new assignments of mortgage where necessary to comply with applicable real
estate recording laws at the time of recordation.
This power of attorney is irrevocable and is coupled with an interest in
the Mortgage Loans, and it may at all times be relied upon by any person, firm
or corporation dealing with the attorney named herein as remaining in full force
and effect, and such person, firm or corporation shall have no liability to the
Depositor with respect thereto.
WITNESS the following signature this ___ day of __________, 199_.
------------------------------
By:
--------------------------
Name:
------------------------
Title:
----------------------
STATE OF ________________ COUNTY OF ______________, to wit:
I, ___________________, a Notary Public in and for the jurisdiction
aforesaid, do hereby certify that ______________________, who acknowledged
himself to be the _______________ of _____________________, a ______________
corporation, personally appeared before me in the jurisdiction aforesaid and
that he as such __________________ executed the foregoing instrument on behalf
of said corporation for the purposes therein contained.
Witness my hand and official seal to this ____ day of ___________, 199_.
_______________________ (SEAL)
Notary Public
My Commission Expires:
<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 June
1, 1997, relating to AFC Mortgage Loan Asset Backed Certificates, Series 1997-2
(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.
3. Duties of Custodian. As Custodian, _____________ shall have and perform
the following powers and duties:
-1-
<PAGE>
(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, 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.
-2-
<PAGE>
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 so executed, shall be deemed to be an original; such
counterparts, together, shall constitute one and the same agreement.
-3-
<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:
----------------------------
<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> <C> <C> <C> <C> <C> <C> <C> <C> <C>
REMIC
199_-__ 30 TO 59 DAYS
60 TO 89 DAYS
90 AND OVER
TOTALS
</TABLE>
<PAGE>
EXHIBIT O
CERTIFICATE OF INSURANCE POLICY
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: 97010355
Trust 1997-2 CONTROL NUMBER: 0010001
INSURED OBLIGATIONS:
$302,000,000 in principal amount
of AFC Mortgage Loan Asset Backed
Certificates, Series 1997-2, Class A
Certificates (the "Certificates")
TRUSTEE: LaSalle National Bank, as Trustee
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 Surety Bond, hereby unconditionally and irrevocably
agrees to pay each Insured Payment to the Trustee named above or its successor,
as trustee for the Holders of the Certificates, to the extent set forth in the
Pooling and Servicing Agreement.
Financial Guaranty will make an Insured Payment (other than that portion of an
Insured Payment constituting a Preference Amount) 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
Certificateholders pursuant to the Pooling and Servicing Agreement, for
disbursement to such Certificateholders in the same manner as other payments
with respect to the Certificates are required to be made. Any Notice received by
Financial Guaranty after 2:00 p.m. New York City time on a given Business Day or
on any day that is not a Business Day shall be deemed to have been received by
Financial Guaranty on the next succeeding Business Day.
Form 9109
Page 1 of 4
<PAGE>
Financial Guaranty Insurance Company
115 Broadway
New York, New York 10006
(212) 312-3000
(800) 352-0001
SURETY BOND
Upon such payment, Financial Guaranty shall be fully subrogated to the rights of
the Certificateholders to receive the amount so paid. Financial Guaranty's
obligations hereunder with respect to each Remittance Date shall be discharged
to the extent funds consisting of the Insured Payment are received by the
Trustee on behalf of the Certificateholders for distribution to such
Certificateholders, as provided in the Pooling and Servicing Agreement and
herein, whether or not such funds are properly applied by the Trustee.
If the payment of any portion or all of any amount that is insured hereunder is
voided pursuant to a final order of a court exercising proper jurisdiction in an
insolvency proceeding to the effect that the Trustee or the Certificateholder,
as the case may be, is required to return any such payment or portion thereof
prior to the expiration date of this Surety Bond because such payment was voided
under the U. S. Bankruptcy Code, with respect to which order the appeal period
has expired without an appeal having been filed (a "Final Order"), and, as a
result, the Trustee or any Certificateholder is required to return such voided
payment, or any portion of such voided payment made in respect of the
Certificates (a "Preference Amount"), Financial Guaranty will pay on the
guarantee described in the first paragraph hereof, an amount equal to each such
Preference Amount, on the second Business Day following receipt by Financial
Guaranty of (x) a certified copy of the Final Order, (y) an assignment, in form
reasonably satisfactory to Financial Guaranty, irrevocably assigning to
Financial Guaranty all rights and claims of the Trustee and/or such
Certificateholder relating to or arising under such Preference Amount and
appointing Financial Guaranty as the agent of the Trustee and/or such
Certificateholder in respect of such Preference Amount, and (z) a Notice
appropriately completed and executed by the Trustee or such Certificateholder,
as the case may be. Such payment shall be made to the receiver, conservator,
debtor-in-possession or trustee in bankruptcy named in the Final Order and not
to the Trustee or Certificateholder directly (unless a Certificateholder has
previously paid such amount to such receiver, conservator, debtor-in-possession
or trustee named in such Final Order in which case payment shall be made to the
Trustee for distribution to the Certificateholder upon proof of such payment
reasonably satisfactory to Financial Guaranty). Notwithstanding the foregoing,
in no event shall Financial Guaranty be (i) required to make any payment under
this Surety Bond in respect of any Preference Amount to the extent such
Preference Amount is comprised of amounts
Form 9109
Page 2 of 4
<PAGE>
Financial Guaranty Insurance Company
115 Broadway
New York, New York 10006
(212) 312-3000
(800) 352-0001
SURETY BOND
previously paid by Financial Guaranty hereunder, or (ii) obligated to make any
payment in respect of any Preference Amount, which payment represents a payment
of the principal amount of the Certificates, prior to the time Financial
Guaranty otherwise would have been required to make a payment in respect of such
principal.
Financial Guaranty shall make payments due in respect of Preference Amounts
prior to 2:00 p.m. New York city time on the second Business Day following
Financial Guaranty's receipt of the documents required under clauses (x) through
(z) of the preceding paragraph. Any such documents received by Financial
Guaranty after 2:00 p.m. New York City time on a given Business Day or on any
day that is not a Business Day shall be deemed to have been received by
Financial Guaranty on the next succeeding Business Day. All payments made by
Financial Guaranty hereunder in respect of Preference Amounts will be made with
Financial Guaranty's own funds.
This Surety Bond is non-cancelable for any reason, including nonpayment of any
premium. The premium on this Surety Bond is not refundable for any reason,
including the payment of the Certificates prior to their respective maturities.
This Surety Bond shall expire and terminate without any action on the part of
Financial Guaranty or any other Person on the date that is one year and one day
following the date on which the Certificates shall have been paid in full.
The Deposit Premium shall be due and payable on the date hereof, and a monthly
premium shall be due and payable as provided in the Pooling and Servicing
Agreement.
This Surety Bond 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 Surety Bond
shall be the County of New York, State of New York. The insurance provided by
this Surety Bond is not covered by the New York Property/Casualty Insurance
Security Fund (New York Insurance Code, Article 76).
Capitalized terms used and not defined herein shall have the respective meanings
set forth in the Pooling and Servicing Agreement. "Notice" means a written
notice in the form of Exhibit A to
Form 9109
Page 3 of 4
<PAGE>
Financial Guaranty Insurance Company
115 Broadway
New York, New York 10006
(212) 312-3000
(800) 352-0001
SURETY BOND
this Surety Bond by registered or certified mail or telephonic or telegraphic
notice, subsequently confirmed by written notice delivered via telecopy, telex
or hand delivery from the Trustee to Financial Guaranty specifying the
information set forth therein. "Certificateholder" means, as to a particular
Certificate, the person, other than the Trust, the Servicer, any Subservicer or
the Depositor 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 June 1, 1997.
In the event that payments under any 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; it
being understood that a payment shortfall in respect of the Certificates by
reason of the purchase by the Servicer pursuant to Section 11.01 of the Pooling
and Servicing Agreement does not constitute acceleration for the purposes
hereof.
IN WITNESS WHEREOF, Financial Guaranty has caused this Surety Bond to be affixed
with its corporate seal and to be signed by its duly authorized officer in
facsimile to become effective and binding upon Financial Guaranty by virtue of
the countersignature of its duly authorized representative.
/s/ /s/ SPECIMEN
- ------------------------------------ ------------------------------------
President Authorized Representative
Effective Date: June 25, 1997
Form 9109
Page 4 of 4
<PAGE>
EXHIBIT A
NOTICE
To: Financial Guaranty Insurance Company
115 Broadway
New York, New York 10006
(212) 312-3000
Attention: General Counsel
Telephone: (212) 312-3000
Telecopier: (212) 312-3093
Re: AFC Mortgage Loan Trust 1997-2,
AFC Mortgage Loan Asset Backed
Certificates, Series 1997-2
Determination Date: ___________________________
Remittance Date: ___________________________
We refer to that certain Pooling and Servicing Agreement dated as of June 1,
1997, 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 (the "Pooling and Servicing Agreement"), relating to the above
referenced Certificates. All capitalized terms not otherwise defined herein or
in the Surety Bond shall have the same respective meanings assigned to such
terms in the Pooling and Servicing Agreement.
(a) As of the Determination Date and based upon the Servicer's Certificate for
such Determination Date, the Trustee has determined under the Pooling and
Servicing Agreement that in respect of the Remittance Date set forth above:
(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
<PAGE>
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, (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 (including
any portion constituting Preference Amounts), together with the
aggregate portion of the items described in clauses (i) and (ii)
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 (vii) 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 withdrawn from the Sub-Pool [1][2]
Reserve Account and deposited 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][2]),] and (vii) above by $_______________;
(viii) The Supplemental Interest due and owing is $____________.
(ix) The Amount applied pursuant to paragraph (b) of Section 6.15 to
the payment of Supplemental Interest is $_________.
Accordingly, pursuant to the Pooling and Servicing Agreement, this statement
constitutes a notice for payment of an Insured Payment in the amount of
$_______________ under the Surety Bond.
[Attached hereto is a copy of the Final Order in connection with a Preference
Amount in the amount set forth therein, together with an assignment of rights
and appointment of agent.]
(b) No payment claimed hereunder is in excess of the amount payable under the
[Surety Bond].
<PAGE>
The amount requested in this Notice should be paid to: [Payment
Instructions]
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.
<PAGE>
IN WITNESS WHEREOF, the Trustee has executed and delivered this Notice this
_____ day of ____________________________.
------------------------------------,
as Trustee
By:
---------------------------------
Title: __________________________
AFC POLICY 97-2
#34287
<PAGE>
EXHIBIT P
PRINCIPAL PAYMENT TABLES
Alliance 1997-2 19-Jun-97
01:56:29 PM
Principal Prepayment Table
Class A Class 2A
Principal Principal
Balance Balance
94,729,249.31 119,164,842.18
1 Jun-97 94,729,249.31 Jun-97 119,164,842.18
2 Jul-97 94,729,249.31 Jul-97 119,164,842.18
3 Aug-97 94,729,249.31 Aug-97 119,164,842.18
4 Sep-97 94,729,249.31 Sep-97 119,164,842.18
5 Oct-97 94,729,249.31 Oct-97 119,164,842.18
6 Nov-97 94,729,249.31 Nov-97 119,164,842.18
7 Dec-97 94,729,249.31 Dec-97 119,164,842.18
8 Jan-98 94,729,249.31 Jan-98 119,164,842.18
9 Feb-98 94,729,249.31 Feb-98 119,164,842.18
10 Mar-98 94,729,249.31 Mar-98 119,164,842.18
11 Apr-98 94,729,249.31 Apr-98 119,164,842.18
12 May-98 94,729,249.31 May-98 119,164,842.18
13 Jun-98 94,729,249.31 Jun-98 119,164,842.18
14 Jul-98 94,729,249.31 Jul-98 119,164,842.18
15 Aug-98 94,729,249.31 Aug-98 119,164,842.18
16 Sep-98 94,729,249.31 Sep-98 119,164,842.18
17 Oct-98 94,729,249.31 Oct-98 119,164,842.18
18 Nov-98 94,729,249.31 Nov-98 119,164,842.18
19 Dec-98 94,729,249.31 Dec-98 119,164,842.18
20 Jan-99 94,729,249.31 Jan-99 119,164,842.18
21 Feb-99 94,729,249.31 Feb-99 119,164,842.18
22 Mar-99 94,729,249.31 Mar-99 119,164,842.18
23 Apr-99 94,729,249.31 Apr-99 119,164,842.18
24 May-99 94,729,249.31 May-99 119,164,842.18
25 Jun-99 94,729,249.31 Jun-99 119,164,842.18
26 Jul-99 94,729,249.31 Jul-99 119,164,842.18
27 Aug-99 94,729,249.31 Aug-99 119,164,842.18
28 Sep-99 94,729,249.31 Sep-99 119,164,842.18
29 Oct-99 94,729,249.31 Oct-99 119,164,842.18
30 Nov-99 94,729,249.31 Nov-99 119,164,842.18
31 Dec-99 94,729,249.31 Dec-99 119,164,842.18
32 Jan-2000 94,729,249.31 Jan-2000 119,164,842.18
33 Feb-2000 94,729,249.31 Feb-2000 119,164,842.18
34 Mar-2000 94,729,249.31 Mar-2000 119,164,842.18
Page 1
<PAGE>
Alliance 1997-2 19-Jun-97
01:56:29 PM
Principal Prepayment Table
Class A Class 2A
Principal Principal
Balance Balance
35 Apr-2000 94,729,249.31 Apr-2000 119,164,842.18
36 May-2000 94,729,249.31 May-2000 119,164,842.18
37 Jun-2000 94,729,249.31 Jun-2000 119,164,842.18
38 Jul-2000 94,729,249.31 Jul-2000 119,164,842.18
39 Aug-2000 94,729,249.31 Aug-2000 119,164,842.18
40 Sep-2000 94,729,249.31 Sep-2000 119,164,842.18
41 Oct-2000 94,729,249.31 Oct-2000 119,164,842.18
42 Nov-2000 94,729,249.31 Nov-2000 119,164,842.18
43 Dec-2000 94,729,249.31 Dec-2000 119,164,842.18
44 Jan-2001 94,729,249.31 Jan-2001 119,164,842.18
45 Feb-2001 94,729,249.31 Feb-2001 119,164,842.18
46 Mar-2001 94,729,249.31 Mar-2001 119,164,842.18
47 Apr-2001 94,729,249.31 Apr-2001 119,164,842.18
48 May-2001 94,729,249.31 May-2001 119,164,842.18
49 Jun-2001 94,729,249.31 Jun-2001 119,164,842.18
50 Jul-2001 94,729,249.31 Jul-2001 119,164,842.18
51 Aug-2001 94,729,249.31 Aug-2001 119,164,842.18
52 Sep-2001 94,729,249.31 Sep-2001 119,164,842.18
53 Oct-2001 94,729,249.31 Oct-2001 119,164,842.18
54 Nov-2001 94,729,249.31 Nov-2001 119,164,842.18
55 Dec-2001 94,729,249.31 Dec-2001 119,164,842.18
56 Jan-2002 94,729,249.31 Jan-2002 119,164,842.18
57 Feb-2002 94,729,249.31 Feb-2002 119,164,842.18
58 Mar-2002 94,729,249.31 Mar-2002 119,164,842.18
59 Apr-2002 94,729,249.31 Apr-2002 119,164,842.18
60 May-2002 94,729,249.31 May-2002 119,164,842.18
61 Jun-2002 87,945,442.73 Jun-2002 114,588,710.60
62 Jul-2002 87,799,285.47 Jul-2002 114,492,609.23
63 Aug-2002 87,651,771.13 Aug-2002 114,395,703.41
64 Sep-2002 87,502,887.10 Sep-2002 114,297,986.41
65 Oct-2002 87,352,620.65 Oct-2002 114,199,451.44
66 Nov-2002 87,200,958.93 Nov-2002 114,100,091.65
67 Dec-2002 87,047,888.98 Dec-2002 113,999,900.14
68 Jan-2003 86,893,397.71 Jan-2003 113,898,869.94
69 Feb-2003 86,737,471.90 Feb-2003 113,796,994.03
70 Mar-2003 86,580,098.23 Mar-2003 113,694,265.33
71 Apr-2003 86,421,263.24 Apr-2003 113,590,676.71
72 May-2003 86,260,953.35 May-2003 113,486,220.97
73 Jun-2003 86,099,154.86 Jun-2003 113,380,890.85
74 Jul-2003 85,935,853.92 Jul-2003 113,274,679.02
75 Aug-2003 85,771,036.57 Aug-2003 113,167,578.12
76 Sep-2003 85,604,688.73 Sep-2003 113,059,580.69
Page 2
<PAGE>
Alliance 1997-2 19-Jun-97
01:56:29 PM
Principal Prepayment Table
Class A Class 2A
Principal Principal
Balance Balance
77 Oct-2003 85,436,796.16 Oct-2003 112,950,679.23
78 Nov-2003 85,267,344.51 Nov-2003 112,840,866.17
79 Dec-2003 85,096,319.29 Dec-2003 112,730,133.89
80 Jan-2004 84,923,705.87 Jan-2004 112,618,474.69
81 Feb-2004 84,749,489.49 Feb-2004 112,505,880.80
82 Mar-2004 84,573,655.25 Mar-2004 112,392,344.42
83 Apr-2004 84,396,188.12 Apr-2004 112,277,857.63
84 May-2004 84,217,072.92 May-2004 112,162,412.50
85 Jun-2004 84,036,294.32 Jun-2004 112,046,001.00
86 Jul-2004 83,853,836.88 Jul-2004 111,928,615.03
87 Aug-2004 83,669,684.98 Aug-2004 111,810,246.45
88 Sep-2004 83,483,822.87 Sep-2004 111,690,887.02
89 Oct-2004 83,296,234.66 Oct-2004 111,570,528.45
90 Nov-2004 83,106,904.30 Nov-2004 111,449,162.39
91 Dec-2004 82,915,815.60 Dec-2004 111,326,780.39
92 Jan-2005 82,722,952.22 Jan-2005 111,203,373.94
93 Feb-2005 82,528,297.65 Feb-2005 111,078,934.49
94 Mar-2005 82,331,835.25 Mar-2005 110,953,453.37
95 Apr-2005 82,133,548.22 Apr-2005 110,826,921.87
96 May-2005 81,933,419.58 May-2005 110,699,331.20
97 Jun-2005 81,731,432.23 Jun-2005 110,570,672.48
98 Jul-2005 81,527,568.89 Jul-2005 110,440,936.79
99 Aug-2005 81,321,812.11 Aug-2005 110,310,115.10
100 Sep-2005 81,114,144.30 Sep-2005 110,178,198.32
101 Oct-2005 80,904,547.68 Oct-2005 110,045,177.29
102 Nov-2005 80,693,004.34 Nov-2005 109,911,042.76
103 Dec-2005 80,479,496.16 Dec-2005 109,775,785.42
104 Jan-2006 80,264,004.89 Jan-2006 109,639,395.86
105 Feb-2006 80,046,512.10 Feb-2006 109,501,864.60
106 Mar-2006 79,826,999.16 Mar-2006 109,363,182.09
107 Apr-2006 79,605,447.31 Apr-2006 109,223,338.70
108 May-2006 79,381,837.59 May-2006 109,082,324.70
109 Jun-2006 79,156,150.86 Jun-2006 108,940,130.29
110 Jul-2006 78,928,367.82 Jul-2006 108,796,745.60
111 Aug-2006 78,698,468.98 Aug-2006 108,652,160.66
112 Sep-2006 78,466,434.66 Sep-2006 108,506,365.42
113 Oct-2006 78,232,245.02 Oct-2006 108,359,349.76
114 Nov-2006 77,995,880.02 Nov-2006 108,211,103.45
115 Dec-2006 77,757,319.42 Dec-2006 108,061,616.19
116 Jan-2007 77,516,542.82 Jan-2007 107,910,877.61
117 Feb-2007 77,273,529.62 Feb-2007 107,758,877.21
118 Mar-2007 77,028,259.02 Mar-2007 107,605,604.45
Page 3
<PAGE>
Alliance 1997-2 19-Jun-97
01:56:29 PM
Principal Prepayment Table
Class A Class 2A
Principal Principal
Balance Balance
119 Apr-2007 76,780,710.02 Apr-2007 107,451,048.66
120 May-2007 76,530,861.46 May-2007 107,295,199.12
121 Jun-2007 76,278,691.95 Jun-2007 107,138,044.98
122 Jul-2007 76,024,179.90 Jul-2007 106,979,575.34
123 Aug-2007 75,767,303.54 Aug-2007 106,819,779.17
124 Sep-2007 75,508,040.88 Sep-2007 106,658,645.37
125 Oct-2007 75,246,369.74 Oct-2007 106,496,162.75
126 Nov-2007 74,982,267.72 Nov-2007 106,332,320.01
127 Dec-2007 74,715,712.22 Dec-2007 106,167,105.77
128 Jan-2008 74,446,680.42 Jan-2008 106,000,508.56
129 Feb-2008 74,175,149.31 Feb-2008 105,832,516.78
130 Mar-2008 73,901,095.63 Mar-2008 105,663,118.77
131 Apr-2008 73,624,495.94 Apr-2008 105,492,302.77
132 May-2008 73,345,326.56 May-2008 105,320,056.88
133 Jun-2008 73,063,563.60 Jun-2008 105,146,369.16
134 Jul-2008 72,779,182.93 Jul-2008 104,971,227.53
135 Aug-2008 72,492,160.22 Aug-2008 104,794,619.81
136 Sep-2008 72,202,470.90 Sep-2008 104,616,533.74
137 Oct-2008 71,910,090.17 Oct-2008 104,436,956.95
138 Nov-2008 71,614,993.01 Nov-2008 104,255,876.94
139 Dec-2008 71,317,154.15 Dec-2008 104,073,281.15
140 Jan-2009 71,016,548.09 Jan-2009 103,889,156.87
141 Feb-2009 70,713,149.11 Feb-2009 103,703,491.32
142 Mar-2009 70,406,931.24 Mar-2009 103,516,271.60
143 Apr-2009 70,097,868.24 Apr-2009 103,327,484.69
144 May-2009 69,785,933.68 May-2009 103,137,117.48
145 Jun-2009 69,471,100.85 Jun-2009 102,945,156.73
146 Jul-2009 69,153,342.78 Jul-2009 102,751,589.12
147 Aug-2009 68,832,632.28 Aug-2009 102,556,401.18
148 Sep-2009 68,508,941.89 Sep-2009 102,359,579.36
149 Oct-2009 68,182,243.90 Oct-2009 102,161,109.97
150 Nov-2009 67,852,510.33 Nov-2009 101,960,979.23
151 Dec-2009 67,519,712.96 Dec-2009 101,759,173.23
152 Jan-2010 67,183,823.29 Jan-2010 101,555,677.94
153 Feb-2010 66,844,812.55 Feb-2010 101,350,479.23
154 Mar-2010 66,502,651.74 Mar-2010 101,143,562.83
155 Apr-2010 66,157,311.53 Apr-2010 100,934,914.37
156 May-2010 65,808,762.37 May-2010 100,724,519.35
157 Jun-2010 65,456,974.42 Jun-2010 100,512,363.15
158 Jul-2010 65,101,917.54 Jul-2010 100,298,431.03
159 Aug-2010 64,743,561.33 Aug-2010 100,082,708.11
160 Sep-2010 64,381,875.11 Sep-2010 99,865,179.42
Page 4
<PAGE>
Alliance 1997-2 19-Jun-97
01:56:29 PM
Principal Prepayment Table
Class A Class 2A
Principal Principal
Balance Balance
161 Oct-2010 64,016,827.90 Oct-2010 99,645,829.82
162 Nov-2010 63,648,388.44 Nov-2010 99,424,644.09
163 Dec-2010 63,276,525.19 Dec-2010 99,201,606.85
164 Jan-2011 62,901,206.29 Jan-2011 98,976,702.60
165 Feb-2011 62,522,399.61 Feb-2011 98,749,915.72
166 Mar-2011 62,140,072.69 Mar-2011 98,521,230.44
167 Apr-2011 61,754,192.81 Apr-2011 98,290,630.87
168 May-2011 61,364,726.90 May-2011 98,058,101.00
169 Jun-2011 60,971,641.62 Jun-2011 97,823,624.65
170 Jul-2011 60,574,903.29 Jul-2011 97,587,185.54
171 Aug-2011 60,174,477.95 Aug-2011 97,348,767.24
172 Sep-2011 59,770,331.28 Sep-2011 97,108,353.19
173 Oct-2011 59,362,428.68 Oct-2011 96,865,926.66
174 Nov-2011 58,950,735.20 Nov-2011 96,621,470.82
175 Dec-2011 58,535,215.59 Dec-2011 96,374,968.68
176 Jan-2012 58,115,834.24 Jan-2012 96,126,403.12
177 Feb-2012 57,692,555.25 Feb-2012 95,875,756.85
178 Mar-2012 57,265,342.35 Mar-2012 95,623,012.47
179 Apr-2012 56,834,158.94 Apr-2012 95,368,152.40
180 May-2012 29,221,497.99 May-2012 95,111,158.95
181 Jun-2012 28,836,342.68 Jun-2012 94,852,014.24
182 Jul-2012 28,447,648.62 Jul-2012 94,590,700.28
183 Aug-2012 28,055,383.31 Aug-2012 94,327,198.90
184 Sep-2012 27,659,513.93 Sep-2012 94,061,491.80
185 Oct-2012 27,260,007.36 Oct-2012 93,793,560.50
186 Nov-2012 26,856,830.20 Nov-2012 93,523,386.40
187 Dec-2012 26,449,948.71 Dec-2012 93,250,950.71
188 Jan-2013 26,039,328.87 Jan-2013 92,976,234.51
189 Feb-2013 25,624,936.31 Feb-2013 92,699,218.71
190 Mar-2013 25,206,736.39 Mar-2013 92,419,884.06
191 Apr-2013 24,784,694.12 Apr-2013 92,138,211.14
192 May-2013 24,358,774.19 May-2013 91,854,180.38
193 Jun-2013 23,928,940.98 Jun-2013 91,567,772.05
194 Jul-2013 23,495,158.53 Jul-2013 91,278,966.24
195 Aug-2013 23,057,390.57 Aug-2013 90,987,742.89
196 Sep-2013 22,615,600.46 Sep-2013 90,694,081.76
197 Oct-2013 22,169,751.26 Oct-2013 90,397,962.43
198 Nov-2013 21,719,805.67 Nov-2013 90,099,364.35
199 Dec-2013 21,265,726.06 Dec-2013 89,798,266.74
200 Jan-2014 20,807,474.44 Jan-2014 89,494,648.70
201 Feb-2014 20,345,012.48 Feb-2014 89,188,489.12
202 Mar-2014 19,878,301.50 Mar-2014 88,879,766.74
Page 5
<PAGE>
Alliance 1997-2 19-Jun-97
01:56:29 PM
Principal Prepayment Table
Class A Class 2A
Principal Principal
Balance Balance
203 Apr-2014 19,407,302.45 Apr-2014 88,568,460.09
204 May-2014 18,931,975.94 May-2014 88,254,547.54
205 Jun-2014 18,452,282.22 Jun-2014 87,938,007.28
206 Jul-2014 17,968,181.14 Jul-2014 87,618,817.32
207 Aug-2014 17,479,632.23 Aug-2014 87,296,955.47
208 Sep-2014 16,986,594.61 Sep-2014 86,972,399.37
209 Oct-2014 16,489,027.04 Oct-2014 86,645,126.46
210 Nov-2014 15,986,887.91 Nov-2014 86,315,114.01
211 Dec-2014 15,480,135.20 Dec-2014 85,982,339.08
212 Jan-2015 14,968,726.54 Jan-2015 85,646,778.54
213 Feb-2015 14,452,619.14 Feb-2015 85,308,409.09
214 Mar-2015 13,931,769.82 Mar-2015 84,967,207.19
215 Apr-2015 13,406,135.04 Apr-2015 84,623,149.16
216 May-2015 12,875,670.80 May-2015 84,276,211.07
217 Jun-2015 12,340,332.75 Jun-2015 83,926,368.82
218 Jul-2015 11,800,076.11 Jul-2015 83,573,598.10
219 Aug-2015 11,254,855.67 Aug-2015 83,217,874.40
220 Sep-2015 10,704,625.84 Sep-2015 82,859,172.99
221 Oct-2015 10,149,340.60 Oct-2015 82,497,468.95
222 Nov-2015 9,588,953.48 Nov-2015 82,132,737.15
223 Dec-2015 9,023,417.62 Dec-2015 81,764,952.24
224 Jan-2016 8,452,685.71 Jan-2016 81,394,088.66
225 Feb-2016 7,876,710.01 Feb-2016 81,020,120.64
226 Mar-2016 7,295,442.34 Mar-2016 80,643,022.21
227 Apr-2016 6,708,834.08 Apr-2016 80,262,767.14
228 May-2016 6,116,836.16 May-2016 79,879,329.02
229 Jun-2016 5,519,399.07 Jun-2016 79,492,681.20
230 Jul-2016 4,916,472.82 Jul-2016 79,102,796.82
231 Aug-2016 4,308,006.98 Aug-2016 78,709,648.79
232 Sep-2016 3,693,950.67 Sep-2016 78,313,209.77
233 Oct-2016 3,074,252.50 Oct-2016 77,913,452.23
234 Nov-2016 2,448,860.66 Nov-2016 77,510,348.39
235 Dec-2016 1,817,722.81 Dec-2016 77,103,870.23
236 Jan-2017 1,180,786.18 Jan-2017 76,693,989.52
237 Feb-2017 537,997.48 Feb-2017 76,280,677.75
238 Mar-2017 (110,697.06) Mar-2017 75,863,906.23
239 Apr-2017 75,443,645.98
240 May-2017 75,019,867.80
241 Jun-2017 74,592,542.24
242 Jul-2017 74,161,639.62
243 Aug-2017 73,727,129.98
244 Sep-2017 73,288,983.13
Page 6
<PAGE>
Alliance 1997-2 19-Jun-97
01:56:29 PM
Principal Prepayment Table
Class A Class 2A
Principal Principal
Balance Balance
245 Oct-2017 72,847,168.63
246 Nov-2017 72,401,655.77
247 Dec-2017 71,952,413.60
248 Jan-2018 71,499,410.89
249 Feb-2018 71,042,616.18
250 Mar-2018 70,581,997.71
251 Apr-2018 70,117,523.49
252 May-2018 69,649,161.22
253 Jun-2018 69,176,878.38
254 Jul-2018 68,700,642.13
255 Aug-2018 68,220,419.39
256 Sep-2018 67,736,176.79
257 Oct-2018 67,247,880.67
258 Nov-2018 66,755,497.10
259 Dec-2018 66,258,991.88
260 Jan-2019 65,758,330.49
261 Feb-2019 65,253,478.15
262 Mar-2019 64,744,399.78
263 Apr-2019 64,231,059.99
264 May-2019 63,713,423.12
265 Jun-2019 63,191,453.20
266 Jul-2019 62,665,113.96
267 Aug-2019 62,134,368.82
268 Sep-2019 61,599,180.90
269 Oct-2019 61,059,513.01
270 Nov-2019 60,515,327.65
271 Dec-2019 59,966,587.01
272 Jan-2020 59,413,252.95
273 Feb-2020 58,855,287.02
274 Mar-2020 58,292,650.45
275 Apr-2020 57,725,304.15
276 May-2020 57,153,208.69
277 Jun-2020 56,576,324.30
278 Jul-2020 55,994,610.92
279 Aug-2020 55,408,028.11
280 Sep-2020 54,816,535.11
281 Oct-2020 54,220,090.83
282 Nov-2020 53,618,653.81
283 Dec-2020 53,012,182.25
284 Jan-2021 52,400,634.03
285 Feb-2021 51,783,966.64
286 Mar-2021 51,162,137.23
Page 7
<PAGE>
Alliance 1997-2 19-Jun-97
01:56:29 PM
Principal Prepayment Table
Class A Class 2A
Principal Principal
Balance Balance
287 Apr-2021 50,535,102.59
288 May-2021 49,902,819.14
289 Jun-2021 49,265,242.96
290 Jul-2021 48,622,329.73
291 Aug-2021 47,974,034.78
292 Sep-2021 47,320,313.07
293 Oct-2021 46,661,119.16
294 Nov-2021 45,996,407.24
295 Dec-2021 45,326,131.14
296 Jan-2022 44,650,244.26
297 Feb-2022 43,968,699.65
298 Mar-2022 43,281,449.94
299 Apr-2022 42,588,447.38
300 May-2022 41,889,643.81
301 Jun-2022 41,184,990.67
302 Jul-2022 40,474,439.00
303 Aug-2022 39,757,939.41
304 Sep-2022 39,035,442.13
305 Oct-2022 38,306,896.95
306 Nov-2022 37,572,253.23
307 Dec-2022 36,831,459.94
308 Jan-2023 36,084,465.58
309 Feb-2023 35,331,218.26
310 Mar-2023 34,571,665.64
311 Apr-2023 33,805,754.92
312 May-2023 33,033,432.90
313 Jun-2023 32,254,645.89
314 Jul-2023 31,469,339.79
315 Aug-2023 30,677,460.03
316 Sep-2023 29,878,951.57
317 Oct-2023 29,073,758.92
318 Nov-2023 28,261,826.15
319 Dec-2023 27,443,096.82
320 Jan-2024 26,617,514.04
321 Feb-2024 25,785,020.45
322 Mar-2024 24,945,558.20
323 Apr-2024 24,099,068.94
324 May-2024 23,245,493.86
325 Jun-2024 22,384,773.65
326 Jul-2024 21,516,848.50
327 Aug-2024 20,641,658.08
328 Sep-2024 19,759,141.60
Page 8
<PAGE>
Alliance 1997-2 19-Jun-97
01:56:29 PM
Principal Prepayment Table
Class A Class 2A
Principal Principal
Balance Balance
329 Oct-2024 18,869,237.71
330 Nov-2024 17,971,884.59
331 Dec-2024 17,067,019.88
332 Jan-2025 16,154,580.69
333 Feb-2025 15,234,503.63
334 Mar-2025 14,306,724.75
335 Apr-2025 13,371,179.60
336 May-2025 12,427,803.15
337 Jun-2025 11,476,529.85
338 Jul-2025 10,517,293.60
339 Aug-2025 9,550,027.75
340 Sep-2025 8,574,665.08
341 Oct-2025 7,591,137.80
342 Nov-2025 6,599,377.59
343 Dec-2025 5,599,315.51
344 Jan-2026 4,590,882.08
345 Feb-2026 3,574,007.23
346 Mar-2026 2,548,620.28
347 Apr-2026 1,514,649.99
348 May-2026 472,024.51
349 Jun-2026 (579,328.62)
Page 9
<PAGE>
EXHIBIT Q
FORM OF SERVICER'S MONTHLY REMITTANCE REPORT
TO TRUSTEE
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
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>
<TABLE>
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__
<CAPTION>
- -----------------------------------------------------------------------------------------------------------------------------------
Total Class 2-A Class R
----- --------- -------
<S> <C> <C> <C>
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
- ------------------------------------------------------------------------------------------------------------------------------------
Curtailments 0.00 0.00
</TABLE>
<PAGE>
<TABLE>
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__
<CAPTION>
- -----------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C>
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
- ------------------------------------------------------------------------------------------------------------------------------------
Total Class A1
----- --------
Weighted Note Rate: 0.00000%
</TABLE>
<PAGE>
<TABLE>
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__
<CAPTION>
- -----------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C>
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
===================================================================================================================================
</TABLE>
<TABLE>
<CAPTION>
Class A Overcollaterization Reconciliation
Beginning of Month Current Month End of Month
------------------ ------------- ------------
<S> <C> <C> <C>
Additional Principal Reduction, LTD 0.00 0.00 0.00
- ------------------------------------------------------------------------------------------------------------------------------------
Less: Realized Losses, LTD 0.00 0.00 0.00
Deposits/Withdrawals from Cross Collaterization 0.00 0.00 0.00
-------
----------------------------------------------------------------------------
Overcollateralization of Principal 0.00 0.00 0.00
-------
============================================================================
</TABLE>
<PAGE>
<TABLE>
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__
<CAPTION>
- ------------------------------------------------------------------------------------------------------------------------------------
<S> <C>
Base Overcollaterization Requirement 0.00
Current Month Subordinated Amount
- ---------------------------------
<CAPTION>
Beginning of Month Current Month End of the Month
------------------ ------------- ----------------
<S> <C> <C> <C>
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
======
- ------------------------------------------------------------------------------------------------------------------------------------
Class A1
---------
Total Class Principal - Original Pool $0.00 $0.00
Interest Remittance Amount 0.00 0.00
</TABLE>
<PAGE>
<TABLE>
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__
<CAPTION>
- ------------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C>
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
- ------------------------------------------------------------------------------------------------------------------------------------
</TABLE>
<PAGE>
EXHIBIT R
PROPOSED SUBSEQUENT MORTGAGE LOAN SCHEDULE
ALLIANCE FUNDING COMPANY
A division of Superior Bank FSB
Loans Funded and Available for Sale to 1997-2 as of 6/22/97
<TABLE>
<CAPTION>
Current Note
Account Name St Principal NRate Margin
- --------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C>
106109897 CASS CATHERINE NY 124,371.10 11.875 6.250
106136958 HAMM JAYNE M CO 175,470.21 9.500 5.250
106137242 THOMAS ANNIE L IL 73,874.25 10.250 5.750
106140339 PEREZ STEVEN R AZ 67,109.18 11.750 7.500
106142517 GIVENS LARRY W. IL 89,200.00 11.625 6.000
106145755 JOHNSON BENJAMIM B OR 97,600.00 13.250 8.250
106146021 BYERS EMANUEL IL 36,000.00 13.125 7.500
106146477 STANFILL WESLEY B UT 416,250.00 11.000 6.250
106146484 SELZER LILLIE M. IL 76,500.00 9.250 4.500
106146502 NICHOLSON THOMAS G. WI 90,000.00 10.000 5.250
106146733 GROSCOST GARY B UT 188,000.00 9.500 5.000
106147252 SIGNORELLI VICTORIA L. MI 54,700.00 10.000 6.000
106147268 SOLANO DANIEL MI 104,000.00 12.750 8.500
106147440 HILL JOHN D MI 92,000.00 10.250 6.250
106147674 COOK DAVID C NM 169,600.00 10.750 6.250
106147714 TAP JOHN L. MI 41,200.00 12.875 7.500
106147868 ANDERSON AMBOUS IL 52,000.00 11.250 6.750
106147890 ESAW-WARFIELD JACQUELINE D. MI 82,400.00 12.875 7.500
106147895 YORK ROBERT D. IN 46,800.00 12.375 6.750
106148124 GLORIA RUBEN IL 60,600.00 13.250 7.750
106148132 BROWN THOMAS E. MI 33,200.00 12.250 7.250
106148183 CORDEIRO LINEU UT 143,500.00 9.750 5.250
106148243 HILL GARY CO 56,000.00 8.625 3.750
106148298 MCCANDLESS DAN UT 93,500.00 11.625 7.750
106148327 SAWSZAK LESIA IL 126,000.00 13.625 8.250
106148337 BREWER JAMES F MI 76,400.00 13.500 8.500
106148406 REGALA AGNES CAMBA IL 232,100.00 11.125 6.250
106148477 MCKINNIE ROBERTL IL 99,750.00 11.125 6.500
106148519 BARTHOLOMEW PAUL A UT 103,000.00 10.750 6.250
106148569 LYNCH PETER CO 136,000.00 10.750 6.250
106148589 FOLKS DARRYL MI 20,000.00 11.375 6.000
106148646 EBERLY TWILA JO CO 57,000.00 8.750 4.250
106148651 PERALTA BYRON R AZ 54,400.00 10.250 5.750
106148701 BONIFIELD ROSS C AZ 82,000.00 11.000 6.500
106148742 KUKLA PATRICIA J. IL 45,000.00 10.000 6.000
106148748 STEVENS, JR. LAWYER W. IL 72,200.00 10.375 6.500
106148846 THIEL ARLETTE CO 97,600.00 10.000 5.250
106148868 BUSHAW KEITH R CO 164,250.00 9.875 5.000
106148938 KUMPF ASTASIA CO 98,175.00 10.375 6.500
106148948 PUSATELLO CHERRIE LYNN UT 72,000.00 9.625 5.000
106148993 GAMMELL THEODORE IL 100,000.00 10.750 5.750
106148994 AHMAD ABDEL MAJID A. IL 161,500.00 11.125 6.250
106148996 AWAWDEH ZAINAB IL 160,000.00 10.500 6.750
106149044 ROSS TRACY W UT 148,750.00 9.375 5.750
106149118 LAYFIELD LAURA B MI 85,800.00 10.875 7.250
106149121 AIRRIESS MARTIN J. MI 108,000.00 11.000 7.000
106149149 BARELA FRED A UT 117,900.00 11.250 6.750
106149152 WARD SHIELDS PRISCILLA B NV 92,720.00 11.625 7.000
106149299 SNOW RYLAND C. IL 54,600.00 12.875 7.500
106149327 MELOY JEFFREY J. MI 64,800.00 12.875 7.500
106149451 DANZIGER C LYNN CO 105,200.00 11.000 6.500
106149527 NEWBY WILLIAM F OR 117,725.00 11.125 7.500
106149551 WILCOXSON ROBERT B UT 446,250.00 10.750 6.250
106149639 SHAYA STEVE MI 55,800.00 10.500 5.750
106149695 ROSS TRAVIS R UT 104,000.00 9.375 5.750
106149696 ANDERSON MARILYN M CO 119,000.00 10.750 6.000
106149719 SCHWARZKOPF ARLENE IL 138,800.00 8.875 3.750
106149845 COLBY JAMES IN 178,500.00 10.375 6.500
106149942 LOU VICKIE MI 40,800.00 10.750 5.750
106150196 SELBY-ROSENCRANS PAT AZ 62,400.00 10.375 6.750
106150199 BREAUX JOHN A UT 212,500.00 9.625 6.000
</TABLE>
<PAGE>
ALLIANCE FUNDING COMPANY
A division of Superior Bank FSB
Loans Funded and Available for Sale to 1997-2 as of 6/22/97
<TABLE>
<CAPTION>
Current Note
Account Name St Principal NRate Margin
- --------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C>
106150805 THIELE STEVEN C AZ 113,500.00 8.625 5.000
800033912 OLEJNIK WIESLAW NY 149,336.69 12.000 7.750
800036410 DISESSO NICHOLAS NJ 212,378.27 8.750 6.000
800036907 GERALD MORTON MD 114,255.65 11.625 7.250
800047110 APPLEBAUM TODD HARRIS NJ 175,660.82 11.000 6.750
800048928 DWYER THOMAS E JR NJ 72,748.38 10.750 7.000
800048993 DAFFIN MICHAEL FL 66,265.72 10.500 6.250
800055527 CALDERON LISA NJ 183,416.37 11.000 7.000
800083537 PEPER STEVEN NY 184,464.39 11.875 7.500
800088320 OVALLE CARLOS M NY 139,942.52 13.500 8.500
800089070 MACK SR ROBERT L MD 46,078.54 11.875 7.750
800103103 SHERMAN HILLARY PA 27,497.73 9.500 6.250
800110322 PEREZ SONIA RODRIGUEZ PA 50,357.56 10.250 6.750
800116444 BRYANT GEORGE C II CT 464,540.75 9.500 5.500
800124190 AKRAMNAZ CHAUDHRY NY 82,462.26 10.250 6.000
800129611 PALUMBO JEFFREY CT 127,500.00 10.125 6.500
800133068 RUDD CLYDE TIMOTHY NC 72,000.00 10.750 6.750
800133696 IRIZARRY GUADALUPE NJ 168,000.00 9.875 6.000
800140022 CRAWFORD LOUISE C DE 90,000.00 9.625 5.000
800140998 BAUER NED NJ 511,336.15 9.625 6.250
800149767 MARTINEZ JAMES NY 137,700.00 12.250 7.750
800150880 GRAHAM PAUL R PA 139,868.83 9.750 6.500
800152860 COOK GEORGE PA 97,600.00 11.125 6.000
800156549 JEANTY GUITEAU NY 51,985.53 12.125 8.250
800157273 UPP DEBRA L SC 64,800.00 11.750 7.500
800157661 LINDSAY COURTNEY NY 221,600.00 11.750 8.250
800158727 DABEK TADEUSZ CT 148,753.74 11.625 8.250
800160814 COLON GERONIMO A NY 236,250.00 9.750 5.500
800161721 HAUBRICH EVERETT NJ 119,000.00 11.000 7.000
800163248 FARRO ONORATO NJ 590,000.00 9.875 6.250
800164394 WERENKO HOLLY JEAN CT 130,440.72 9.875 5.750
800166043 MIRASOLI VINCENT NY 220,000.00 9.750 6.250
800166936 CHAE HOB JOHN NJ 181,717.40 9.875 6.000
800168908 LONG JR KENNETH R NJ 170,000.00 11.750 7.250
800170342 WELLS RICHARD C NJ 65,000.00 10.250 5.250
800170805 BA MOUSSA GA 96,000.00 7.625 3.750
800171589 BLUME DAVID LYNN MD 73,950.00 11.000 6.500
800172843 BAILEY LOUIS JR CT 211,500.00 10.000 5.500
800174591 MANDEL GOLDY NJ 96,000.00 13.250 8.250
800175366 OGORKIEWICZ MIECZYSLAW MD 69,300.00 9.125 6.250
800176471 FORSYTH NORMAN NY 375,000.00 12.000 7.500
800178600 ARSENEC ANTOINE NY 141,300.00 9.375 5.750
800180309 MOZDEN JOSEPH F NJ 54,987.06 12.875 7.750
800181497 REEVES JOHN L PA 50,150.00 11.375 7.500
800182099 MCKITTRICK DAVID NY 48,600.00 10.625 6.750
800184731 ALDERSON KENNETH L MD 122,000.00 10.625 5.750
800185043 WERLEY JEFFREY NJ 239,500.00 11.375 6.500
800185928 ROUZER JOHN M PA 55,000.00 7.375 4.500
800188666 SCHWARTZ STEVEN NJ 204,000.00 8.125 4.500
800190084 BORIS KATHRYN G CT 99,200.00 12.250 7.250
800191454 TRUMBO STEPHEN T NJ 133,600.00 11.500 8.000
800193179 LUND TIMOTHY FL 50,400.00 10.750 5.750
800193278 GILLETTE BONNIE MD 76,000.00 12.125 8.500
800193369 BREITMAN LORI NY 75,000.00 10.875 6.250
800194102 AUSTIN DANIEL A PA 39,500.00 9.625 4.500
800195927 DRUMMOND PEACHES NY 328,500.00 10.625 7.000
800197170 LEE PRISCILLA GA 89,100.00 11.875 7.000
800198376 ACEVEDO MARGARITA NY 202,500.00 10.250 7.250
800199044 KYRITZ WILLIAM NJ 103,000.00 8.875 5.000
800200552 ELLISON, SR. CEDRIC LOUIS NC 124,950.00 10.625 6.500
800200867 CADENA CARLOS NY 229,500.00 10.250 6.750
</TABLE>
<PAGE>
ALLIANCE FUNDING COMPANY
A division of Superior Bank FSB
Loans Funded and Available for Sale to 1997-2 as of 6/22/97
<TABLE>
<CAPTION>
Current Note
Account Name St Principal NRate Margin
- --------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C>
800200917 ARIAS MARIA NY 306,000.00 12.125 7.250
800200941 KONSTANTINIDIS FRANK NJ 60,000.00 11.250 7.250
800201246 GOBO KATHLEEN NJ 198,000.00 10.500 5.750
800201717 BISHER ROBERT PA 90,000.00 9.875 6.000
800203366 DAMMAR MERRICK NY 105,000.00 10.000 5.250
800204075 KOWALSKI JAMES D FL 65,625.00 8.875 3.750
800204158 KLIENSORGE JOHN E. NC 124,000.00 11.250 6.500
800205239 BALABOUS CHRIS NY 109,650.00 10.875 7.250
800205411 BABCOCK COLLEEN M NJ 100,000.00 9.750 5.250
800206179 CARR SR RICHARD J PA 104,000.00 12.875 7.500
800206187 GRENWAY BERNARD N MD 200,000.00 10.000 5.500
800206435 COLLINS BERNICE SC 74,250.00 10.125 6.000
800207235 SEYLER LEON J PA 104,000.00 12.375 6.750
800207383 MANRING LOWELL T NC 113,900.00 10.000 5.250
800207656 JOST JANET D PA 129,200.00 10.125 6.500
800209066 CULLUM ROBERT F MD 56,000.00 11.000 7.000
800209561 SCHAFFERMAN LESLIE E MD 64,500.00 9.750 7.000
800210643 ROSENTEL JOHN ALLEN PA 115,000.00 12.250 7.750
800211567 TYLER SHEILA B PA 44,000.00 12.250 7.250
800212631 SALCEDO ANN M NY 100,800.00 12.250 7.000
800212854 POLLYDORE CHARLES NY 120,000.00 12.375 6.750
800214520 BAKER PAULINE S PA 114,750.00 11.250 6.500
800215170 BASANTES BELLA NJ 109,800.00 10.125 6.500
800216079 SHENASSA SIMONE NJ 200,000.00 10.625 7.000
800216459 GARDNER RONA NJ 188,000.00 11.500 7.250
800216624 FESSOCK GARY M PA 173,000.00 9.875 6.000
800217077 LONG CATHERINE A NY 94,350.00 10.375 6.500
800217085 ALTMAN STANLEY W PA 75,650.00 11.250 5.250
800217754 GAMBLER CHRISTOPHER S PA 61,200.00 11.125 6.250
800218141 KIBLER ERVAN TODD MD 125,500.00 11.125 8.250
800219552 SCHIRLING TERRY L MD 45,500.00 8.875 3.750
800220592 COELLO BERKYS PA 151,300.00 11.125 6.250
800220774 MAGILL HOBE L FL 69,700.00 11.125 6.250
800222309 WOOD RICHARD A CT 116,000.00 10.000 5.250
800225591 HUFF ROBERT J. FL 73,000.00 11.125 6.250
800225922 LOPEZ RUBEN NJ 105,300.00 11.625 6.000
800227290 KRIEGSTEIN DAVID FL 195,500.00 11.250 6.500
800227654 AQUHART LENNOX 0 FL 44,135.00 12.875 7.500
800229593 ROSE BARBARA A PA 65,000.00 10.875 5.500
800230633 TZIAMIHAS VICKI NY 74,000.00 9.875 6.250
800231177 BERGIAN PETER J PA 144,000.00 12.875 7.500
800236689 ZARRILLO LEONARD J NY 133,000.00 12.750 7.250
- --------------------------------------------------------------------------------------
Loans tagged for 1st Subsequent Transfer 20,432,399.82 10.724 6.431
106108181 BRETT ERROL NY 171,173.22 9.250 6.000
106115742 SCHAFFNIT SARA PARKS GA 234,125.35 10.625 7.000
106118568 ALVARADO NORMA MD 156,478.44 8.625 5.000
106122236 MARUNGO BACELISA IL 125,419.08 9.625 6.250
106123753 VULPI BETTY NY 86,191.28 11.875 8.250
106126341 PRISCO STEPHEN NY 138,040.91 9.500 6.750
106129828 FISHER TODD JOSEPH MI 31,939.72 11.625 8.500
106131717 SELLMAN JON CHADWICK MN 133,944.63 9.250 5.500
106136314 MERRIWEATHER REGINA IL 34,960.44 12.125 6.750
106137824 AL-DHALIMI MOHAMMED MI 55,685.95 9.375 5.750
106139206 CHRISTIAN TONYIA MARIE OH 80,084.04 11.000 6.000
106140369 MARKOS LINDA MI 46,660.25 9.375 5.750
106141979 GUNN HERBERT IL 237,876.61 9.250 4.500
106142975 DANZY VIRGINIA IN 53,586.67 12.625 7.500
106143198 STEWARD SANDORA IL 85,464.14 10.250 5.750
106144010 KELSANG IL 89,933.21 7.500 3.000
106145024 CWIK LAWRENCE J OR 195,846.98 12.250 7.500
</TABLE>
<PAGE>
ALLIANCE FUNDING COMPANY
A division of Superior Bank FSB
Loans Funded and Available for Sale to 1997-2 as of 6/22/97
<TABLE>
<CAPTION>
Current Note
Account Name St Principal NRate Margin
- --------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C>
106145654 DYSON MICHAEL UT 111,600.00 9.625 6.000
106145838 HARLEY ZANE IN 43,352.40 9.000 4.500
106146615 MICHELS WILLIAM P. MI 48,000.00 9.500 5.500
106146802 COLE JEFFREY L. IN 97,500.00 12.875 7.500
106147987 THOMPSON NIELS A. IN 41,977.65 9.125 3.750
106148036 HOLMAN ROBERT S. MN 105,000.00 9.250 4.500
106148526 SPRADLING ROBERT UT 200,000.00 11.375 7.750
106148707 GOSCHA ROSS S CO 705,500.00 8.875 5.250
106148886 RYAN BILLIE JO IN 31,500.00 12.625 7.250
106149012 SPURLIN TONY D. IN 70,500.00 11.125 6.250
106149353 FISHER NORMAN L CO 487,800.00 8.875 5.250
106149716 TRISOLIERE ELLEN L IL 79,300.00 8.875 3.750
106149741 ROBERTO ARTHUR IL 99,000.00 8.875 3.750
106150052 PATTY TERRY L. IN 18,000.00 10.750 5.750
106150579 TOTH DAVID L CO 109,350.00 9.875 5.000
800005472 PULLARA GIUSEPPE NY 159,310.69 9.875 6.250
800023400 PANORA LUIS CT 233,264.19 10.250 5.750
800026429 FOSTER THOMAS E MD 148,348.10 10.625 6.750
800032153 SUAREZ WILLY MARK NY 247,151.96 9.125 5.500
800034704 SAVICH JOHN J NY 45,533.43 12.000 7.250
800041303 CRISP CHARLOTTE A. DE 82,686.23 9.875 5.000
800046989 WILLIS DONNA CT 76,370.02 10.250 5.750
800048142 MENACHO GUILLERMO VA 109,340.16 9.750 5.250
800048290 ZELLER RAYMOND R FL 59,222.11 8.625 3.750
800049710 MALONE BOBBY E NC 77,887.23 11.000 6.000
800050080 MONDA DANTE J FL 44,435.67 11.000 6.000
800053035 MARSHALL JAMES E MD 145,425.19 9.625 7.000
800053258 KONARZEWSKI JAMES FL 45,910.80 9.625 5.000
800053704 MATHEWS DEBRA S NY 44,931.31 10.750 6.000
800054421 HASKINS GARY NJ 79,884.11 9.625 5.000
800056327 KAUFMANN JOSEPH A SC 76,370.02 10.250 5.750
800057812 KAPLAN MICHAEL I NY 114,882.43 11.250 6.000
800059206 MYSOREKAR UMA V NY 475,838.96 9.625 6.000
800059628 BLACK JOHN W PA 63,049.14 8.625 3.750
800062259 BROWN, JR. RALPH ELMER SC 78,946.58 8.675 4.500
800063539 GOLDBERG MARK L VA 71,863.99 9.750 5.250
800071144 ABASTO ROBERTO VA 111,910.65 12.375 7.500
800074262 EVANS LORRAINE NY 205,610.85 9.750 5.500
800081671 ROTTER ARTHUR T NY 166,092.00 8.875 6.750
800083008 GORDON BRAINARD L PA 124,029.02 9.625 7.250
800087629 HADDAD GILL S MD 143,112.97 11.750 7.250
800089740 MOHN MARGARET I PA 131,708.34 9.000 4.500
800093155 DAVENPORT JANET PA 39,072.73 11.125 6.250
800094781 CALAMUSA JOHN NY 109,662.11 7.375 3.500
800097867 PETICCA MARIO PA 39,928.33 10.000 5.250
800104002 COSSABOON ROBERT N PA 205,810.60 10.500 5.500
800107641 FELIX DIMAS R CT 99,508.76 11.750 7.250
800107856 LUTHER GARCIA NY 194,890.91 12.125 8.500
800108664 MCWHORTER EDDIE GA 113,953.20 13.500 8.500
800109100 EDWARDS BENJAMIN H FL 98,900.00 10.750 6.500
800111387 DURINA MARK A FL 98,874.39 10.250 5.750
800113110 HANES TERRY FL 132,750.00 10.250 5.750
800114340 RODRIGUEZ EDERMIRA NY 114,944.91 9.625 6.000
800120396 ARCARO DOREEN NY 93,460.80 10.250 6.875
800122509 SCHAEFFER EDWARD J PA 44,100.00 11.250 6.750
800122855 RAY JR HARRY C FL 46,571.68 11.750 6.250
800123580 LINFOOT KENDLE B NY 242,028.99 9.875 7.500
800123614 JOHNSON THOMAS R SC 382,254.36 11.500 6.750
800130882 THOMPSON WALTER T PA 91,800.00 11.625 7.250
800133316 DAVILA DAVID CT 57,800.00 11.875 7.250
800133845 DENLINGER R WAYNE PA 45,588.33 12.500 8.500
</TABLE>
<PAGE>
ALLIANCE FUNDING COMPANY
A division of Superior Bank FSB
Loans Funded and Available for Sale to 1997-2 as of 6/22/97
<TABLE>
<CAPTION>
Current Note
Account Name St Principal NRate Margin
- --------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C>
800137143 WHITE SHELBY FL 175,040.88 11.250 6.500
800139602 LANDES MARK F FL 68,968.65 9.875 5.000
800140469 SOLIDAY KEVIN B NJ 230,250.78 10.125 6.500
800140535 LINK JOHN NY 176,001.30 9.750 5.500
800145351 SPENCER C GERALD GA 224,895.03 9.750 5.500
800145591 LEARY JOHN M MA 249,695.08 10.375 6.500
800147027 SULLIVAN JAMES T MA 105,356.97 10.375 6.500
800151045 BRUCE EDWARD F CT 196,000.00 9.750 5.000
800152175 VANBUSKIRK CLARK NJ 85,180.00 9.500 6.250
800152563 HEALY MICHAEL J NJ 189,000.00 10.125 6.000
800155368 JASINSKI SUSAN A FL 66,600.00 10.250 5.750
800156200 POISSON JOEL V NY 409,500.00 9.750 5.500
800156895 RICHARDSON ANNA G GA 67,917.45 9.625 5.750
800157174 HAMPTON DELORES PA 48,000.00 12.250 7.250
800159238 KAZA DEBRA ANN PA 24,638.19 9.625 7.250
800160962 CORRADO SANDRA D NY 122,538.10 9.875 6.250
800161861 GRANTHAM DONNELL NY 100,712.79 10.125 6.750
800165508 NEWTON JR WILLIAM J PA 40,000.00 11.000 6.250
800165540 HOLLAND MARETTA DC 83,200.00 10.875 7.000
800166068 OLIVERA ALDO NY 154,800.00 10.500 6.750
800167132 SHORTELL RUTH A PA 55,000.00 9.000 4.500
800167694 VIVIECA RAMONA NY 202,500.00 10.500 5.500
800170169 JAMIL SYED NY 110,500.00 11.875 7.250
800173510 KUSAKAVITCH JOSEPH PA 117,135.89 10.750 5.750
800173775 DIXON LORRAINE D CT 77,400.00 10.500 5.750
800174294 CONTE MARIO NY 80,000.00 10.750 6.250
800175390 SPIVEY THERESA NJ 74,000.00 12.875 7.500
800178485 ARTHUR FLOYD NY 573,393.39 8.375 5.500
800178865 REDMOND PETER NY 225,400.00 11.500 6.750
800179848 NASE JAMES S PA 18,000.00 10.500 5.750
800181760 LIN CHENG CT 53,899.00 9.750 5.000
800182651 STOLZE JR CHARLES H VA 119,936.14 9.125 3.750
800182784 MOMPLAISIR ULRICK NY 191,700.00 10.000 5.500
800185084 RODEL SHAWN FL 69,600.00 10.125 5.000
800186124 MAZZA DOREEN NY 115,600.00 11.000 6.500
800188252 ANTHONY MARIAN PA 91,800.00 12.250 7.500
800189391 HUSSEIN SAAD NY 68,000.00 10.788 8.100
800191090 MAZZEO PASQUALE NY 150,500.00 8.875 5.250
800192734 ORTIZ HEATHER A PA 47,200.00 12.875 7.500
800194581 FERRACO JOHN P NY 127,500.00 10.375 6.250
800195414 KIRSON JESSICA S NJ 117,000.00 8.875 6.250
800197618 VAZQUEZ ALBERTO NJ 157,000.00 9.750 6.250
800199077 NIEVES JOSE E PA 93,600.00 10.750 6.750
800200685 MARSICANO DANIEL NY 162,000.00 13.500 8.500
800201873 SENKO YOLANDA J NY 76,500.00 11.750 7.500
800202541 WALSH KENNETH JOHN NY 100,000.00 11.875 8.250
800202988 MILLER REGINA NJ 112,500.00 10.500 5.750
800204257 DEUGWILLO ROBERT J MD 86,400.00 9.625 5.750
800204828 FOSTER FRANK C CT 99,800.00 10.500 5.750
800206336 THOMAS JAMES R NJ 94,400.00 12.875 7.500
800207151 ESCUDERO MIRIAM NY 210,600.00 10.875 6.000
800209728 MILLER MELISSA A NY 57,600.00 10.500 5.750
800210361 KESTNER JANET K PA 81,600.00 13.000 8.500
800211542 MOSEMANN DEAN M PA 72,000.00 10.500 5.750
800212995 UFFELMAN JOHN R PA 66,950.00 10.875 5.500
800213134 RIEBER MICHAEL PA 128,000.00 12.250 7.250
800214272 MOORE HERBERT E CT 347,200.00 11.875 8.250
800214413 GEESEY MAXINE H AZ 183,000.00 8.625 5.000
800215253 BRANDT LAURIE A NJ 199,750.00 11.250 6.500
800215410 DE LA CRUZ ELIAS NY 133,200.00 9.875 6.000
800216921 OWENS RICHARD E PA 44,010.00 10.500 5.750
</TABLE>
<PAGE>
ALLIANCE FUNDING COMPANY
A division of Superior Bank FSB
Loans Funded and Available for Sale to 1997-2 as of 6/22/97
<TABLE>
<CAPTION>
Current Note
Account Name St Principal NRate Margin
- --------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C>
800217101 REYNOLDS BERNARD L WA 104,000.00 9.000 4.500
800219164 CHIUSANO LINDA NY 131,400.00 11.250 6.500
800223166 EMMER BRUCE NY 193,413.68 12.000 6.750
800223562 MARZAN RAPHAEL NJ 151,200.00 10.375 6.750
800224081 MAY JASON K NC 104,000.00 9.750 5.250
800225435 O'NEIL THOMAS FL 135,000.00 9.875 5.000
800228769 WINNETTE CARSON H NC 49,300.00 11.250 6.500
800230856 GARDIANOS PERICLES C NY 124,950.00 12.000 7.500
800230955 JENKINS JULIAN PA 30,945.00 12.875 7.500
800231102 BLACKBURN ROBERT A FL 27,200.00 11.000 6.500
800233926 BRENNAN THOMAS PATRICK NY 119,000.00 11.250 6.500
800233983 LEWIS WARREN S PA 66,400.00 11.125 6.250
800235277 FISHER CRAIG W PA 63,200.00 10.000 5.250
800237877 TAYLOR III HENRY W NJ 50,000.00 10.000 5.500
800238057 LYNCH RICHARD M. NY 249,700.00 10.375 6.500
800244055 GUERRIERO JOHN NY 128,000.00 11.500 7.500
- --------------------------------------------------------------------------------------
Loans in Servicing not yet tagged for sale 19,558,985.54 10.288 6.132
106143821 MUFFLER GREGORY A. IL 110,000.00 12.375 6.750
106143822 MUFFLER GREGORY A. MN 40,100.00 12.375 6.750
106143876 MARTINEZ SANDRA A NM 36,000.00 12.125 8.250
106144199 MATHEWS HELENA IL 39,000.00 11.000 5.750
106144945 WALKER RICHARD R. MI 281,200.00 11.000 5.750
106145235 LEE JOHN MI 80,700.00 11.250 7.500
106145245 CAPSOCOLIS NICK MI 261,500.00 10.375 6.500
106145345 STAKEN JOAN M. IL 45,000.00 9.125 5.000
106145379 WELLMAN LYLE G UT 72,800.00 11.000 6.250
106145525 KHEIREDDINE ALI N MI 125,600.00 10.625 8.250
106145815 STROM WILLIAM H AZ 114,400.00 11.625 7.000
106146283 NIELSON GARY C UT 102,400.00 11.875 7.000
106146505 BATES ROBERT A. MI 63,900.00 10.000 6.750
106146976 TRACY ANN BLAKE UT 72,600.00 8.875 5.250
106147025 ADAMS DOREEN F. MI 51,000.00 10.000 6.000
106147122 MCNALLY KATHLEEN L MI 78,000.00 10.875 7.000
106147274 KLOKANOVSKI CANE MI 35,000.00 12.875 8.250
106147331 REYNOLDS GEOFFREY T CO 148,700.00 10.500 6.000
106147363 HENNESSEY ROSE MI 55,200.00 12.250 8.500
106147396 HAYES GARY UT 95,000.00 9.750 5.000
106147551 MORTENSEN BRIAN UT 139,920.00 8.750 4.000
106147610 COOLEY LARIA A. IN 23,400.00 12.375 6.750
106147617 SALEH AHMED H. MI 123,200.00 10.750 7.500
106147700 KELM THELMA S. IL 96,500.00 9.875 5.000
106147719 MARSH RHONDA K. IN 64,300.00 10.500 5.750
106147765 BANUELOS FRANCISCO J AZ 76,000.00 9.875 5.250
106147781 WRIGHT GARY D. IN 41,900.00 8.850 0.000
106147886 ADAMS SCOTT LOUIS MI 110,000.00 9.375 6.250
106147959 LEWIS FRED A MI 72,000.00 12.000 7.000
106147960 HILLIARD TODD A WI 50,400.00 11.500 7.500
106148008 COX DOUGLAS P ID 63,750.00 12.000 7.500
106148039 SLAVIK CRAIG C. MN 91,100.00 10.250 5.500
106148135 PORATH SCOTT E. WI 79,200.00 10.000 5.250
106148140 WEST, SR. MICHAEL J. IN 70,000.00 12.875 7.500
106148195 REGIMBAL EUGENE W OR 152,900.00 11.250 6.750
106148246 BRILL DOUGLAS C CO 233,750.00 9.625 6.000
106148348 RESSLER TIMOTHY D NV 417,600.00 10.250 5.750
106148628 ARJONA MARCELINO IMBUIDO CA 103,250.00 9.250 4.750
106148668 CAMPBELL RICARDO IL 120,000.00 12.625 7.750
106148674 IVEY WARREN MI 165,200.00 8.875 6.000
106148708 BANKS PAUL TODD UT 97,500.00 11.625 7.000
106148718 DAVIDSON JEFFREY L WA 214,600.00 10.500 6.000
106148760 MICHAEL KAHN MI 139,500.00 7.625 3.750
</TABLE>
<PAGE>
ALLIANCE FUNDING COMPANY
A division of Superior Bank FSB
Loans Funded and Available for Sale to 1997-2 as of 6/22/97
<TABLE>
<CAPTION>
Current Note
Account Name St Principal NRate Margin
- --------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C>
106148777 FELDMAN ALAN M NV 204,000.00 9.375 4.750
106148805 HAYS JR FLOZELL E NV 123,165.00 11.000 6.500
106148827 KASTANOS CHRISTINE G. MI 280,000.00 12.875 7.500
106148832 LEE JOANN MI 128,800.00 12.500 8.500
106148835 NEWILL JERRY L CO 142,000.00 11.125 6.500
106148922 SATO SUZUE CO 89,250.00 10.125 6.500
106149011 CROWE ROBERT D. MI 138,800.00 11.625 8.250
106149053 FOSTER MADELINE M CO 96,600.00 9.750 5.250
106149116 FOLTA HELGA K. OH 114,750.00 11.250 6.500
106149123 FAIRLESS ERNIE MI 123,700.00 10.125 6.000
106149129 KRYDA SUSAN M MI 73,900.00 10.750 7.500
106149267 CAMPBELL STEPHEN J CO 116,400.00 9.625 5.000
106149369 ALLEN GREGORY MICHAEL OR 320,000.00 10.500 6.000
106149584 WALKER KENNETH W TX 40,000.00 8.625 3.750
106149638 DOKOVIC SULEJMAN MI 77,400.00 10.875 6.000
106149651 SINGLETON CHARLOTTE L CO 103,000.00 9.625 5.000
106149742 GETTINGS JOHNNIE B IL 140,200.00 10.875 7.250
106149751 WEHRLY ROBERT B. MI 112,000.00 12.750 8.500
106149858 JACKSON MARIO MI 135,000.00 10.375 6.750
106149868 GUTIERREZ ABEL CO 110,500.00 8.750 4.250
106149873 MARTIN RHONDA L AZ 178,400.00 8.875 5.250
106149889 PAULSON MARGARET J AZ 116,800.00 12.250 7.250
106149961 WILHELM JEAN R CO 144,500.00 8.625 3.750
106149972 SWEENEY DEBBIE WA 173,400.00 11.000 6.500
106149973 ENNES JOHN A WA 148,500.00 9.500 5.250
106150013 COLLINS RICHARD MI 172,500.00 10.750 5.750
106150032 TRONGALE ELAINE M IL 75,600.00 9.250 4.500
106150040 VUCIC MIHAILO IL 308,000.00 10.475 6.500
106150055 CHANDLER LETICIA LOUISE IN 104,900.00 11.250 6.500
106150149 HALL MARLINE MI 17,600.00 12.875 7.500
106150156 MOLINA MOISES M. IN 148,700.00 11.250 6.500
106150396 ROONEY MARY ELLEN IL 110,400.00 9.875 4.750
106150452 DEANE ERIN K OR 187,000.00 9.625 5.000
106150454 GENTRY RICKY C CO 101,600.00 10.875 7.250
106150463 STUBBS RICHARD A CO 71,500.00 9.500 5.000
106150538 MCCLOUD BEVERLY J. IL 119,200.00 11.375 6.000
106150665 JAJOU DHIA MI 102,000.00 9.625 7.500
106150686 BRITTON LARRY J. IN 76,000.00 11.250 6.500
106150693 BLACKBURN ALAN D UT 112,410.00 10.250 5.750
106150757 BADAWI IMAD MI 105,000.00 9.500 6.250
106150764 BURWELL JAMES LANCE CO 210,000.00 8.625 3.750
106150824 BOUFFARD JOHN ALAN CO 102,400.00 9.750 5.250
106150919 LOVE LISA D AZ 100,400.00 8.750 4.250
106150961 BIALKE-FITZPATRICK KATHLEEN P CO 173,400.00 10.750 6.250
106151117 SHEPARD DIANE WI 49,500.00 10.500 5.750
106151139 SIPES MICHAEL W WA 220,150.00 10.250 5.750
800147902 SCHWAB DAVID A FL 160,780.00 10.250 6.000
800156051 DUFF MICHAEL J PA 51,100.00 10.875 6.750
800157620 SULLIVAN ISMAEL BERNIER NJ 92,400.00 9.750 5.500
800159972 RIOS RUTH NY 103,500.00 11.000 6.750
800160970 DAVIDOWITZ PHILIP NY 175,000.00 11.000 6.750
800170797 BOOKER BIBI NY 148,750.00 12.000 7.500
800171290 BILDA DIANE PA 103,500.00 9.750 6.250
800174278 KHAN YOUNIS G NJ 130,050.00 11.000 6.500
800177677 FASIG RANDY V PA 42,320.00 12.875 7.500
800181125 WILLIAMS ANETRIAL L. FL 67,500.00 12.625 7.250
800182255 MCNICHOLAS KEVIN NJ 185,400.00 8.875 6.000
800184723 AUTORE ROSEMARY NJ 93,000.00 8.875 4.500
800188930 GREEN ELEANOR J CT 80,000.00 10.125 6.750
800190985 TASCA GAETANO NJ 117,000.00 11.500 6.750
800191397 RODRIGUEZ JR ISMAEL NY 175,500.00 10.375 6.750
</TABLE>
<PAGE>
ALLIANCE FUNDING COMPANY
A division of Superior Bank FSB
Loans Funded and Available for Sale to 1997-2 as of 6/22/97
<TABLE>
<CAPTION>
Current Note
Account Name St Principal NRate Margin
- --------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C>
800193658 FOLGER MARK A PA 96,000.00 12.875 8.250
800193914 ANDERSON HARVEY NY 127,200.00 13.250 8.500
800195521 JOHNSON MARC D NY 95,200.00 12.250 7.250
800196271 BROOKS STEVE GA 69,275.00 11.250 6.500
800196982 ANTHONY JOSEPH HARRELL NC 34,000.00 10.625 6.500
800204737 LECATO TYRONE T PA 207,000.00 10.500 5.750
800204976 BELMONTE LUIS A PA 48,900.00 11.500 7.500
800207763 GROSSEN HANS FL 128,000.00 10.000 6.000
800208548 HEINS ROBERT A.W. NY 385,000.00 9.000 6.500
800209215 O'DONNELL MARY ANN PA 97,750.00 11.250 7.500
800210510 OROZCO IGNACIO A SC 63,750.00 9.500 5.500
800217499 MCCRONE MARLENE M PA 77,390.00 8.375 4.750
800218018 CAFARO ANNA NY 157,500.00 9.625 6.000
800218687 HERNANDEZ ALFONSO NY 245,650.00 10.875 6.250
800220238 COSNER PAUL L PA 96,000.00 12.875 7.500
800221186 ZEZIMA ANTONIO CT 203,265.00 8.875 5.000
800224537 SMITH EARL NJ 64,000.00 10.500 5.500
800224552 AUGUST WARREN NY 67,500.00 9.625 4.875
800225443 COLLINS JR WAYNE DAVID FL 242,250.00 11.250 6.500
800225732 KALOIDIS ATHAN CT 500,000.00 9.125 5.500
800226615 CHAMBERS INEZ CT 346,500.00 10.750 6.750
800227886 RUDE JR ALLEN W NJ 104,000.00 13.750 8.500
800229585 LYNN CANDACE J PA 73,350.00 9.875 6.000
800233264 SINGLEY CAROLYN A DC 107,100.00 10.375 6.750
800234270 LACEY RANDALL H PA 72,000.00 10.500 5.750
800237554 RASO ANTHONY C PA 110,700.00 10.500 5.750
800238792 BLAIR ARNOLD J. FL 73,500.00 9.625 5.000
800239204 HOBSON BETTY NJ 72,000.00 12.250 6.500
800240095 NADERSKI CASMIR F. FL 54,000.00 10.875 5.968
800241630 LINHARES JOAO M FL 116,450.00 10.000 5.250
800242133 KOPKO GEORGE J PA 112,680.00 8.875 5.000
800242430 PERRY RICHARD A PA 30,400.00 10.000 5.250
- --------------------------------------------------------------------------------------
Loans Funded and not yet in Servicing 16,757,505.00 10.454 6.154
Total ARM Loans Funded and Available 56,748,890.36 10.494 6.246
</TABLE>
<PAGE>
ALLIANCE FUNDING COMPANY
A division of Superior Bank FSB
Loans Funded and Available for Sale to 1997-2 as of 6/22/97
<TABLE>
<CAPTION>
Current Note
Account Name St Principal NRate Margin
- --------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C>
106102612 MOSKALETS YURIY CA 19,545.01 11.740 0.000
106120268 MOORE JESSIE J. MI 22,556.93 11.350 0.000
106123360 DAVIS LAWRENCE E. MI 36,177.96 9.750 0.000
106132903 BASS JERRY L NC 47,839.97 11.350 0.000
106136762 SMITH ISABELL IN 37,856.13 13.000 0.000
106139204 HUPFAUER DONALD J. IL 27,105.85 11.550 0.000
106139586 PHILLIPS DAVID P IL 18,233.39 12.150 0.000
106141558 HAYES EDWARD D PA 89,964.73 13.700 0.000
106143133 COLLINS SAMUEL J CA 24,938.12 11.950 0.000
106144359 EVANS RONALD M IL 108,800.00 14.600 0.000
106144515 WEAVER EVE MARIE UT 37,000.00 13.600 0.000
106144521 DUNN, JR. HAROLD E. IN 16,500.00 13.490 0.000
106144707 DARGAN ARLENE E. IL 36,800.00 10.775 0.000
106144710 JACKSON VERNA M. IL 52,200.00 11.600 0.000
106145456 MOSCHETTI II ROBERT LEROY UT 29,368.07 12.750 0.000
106145513 JOHNSON DONALD IN 77,300.00 13.375 0.000
106145600 ZAGORSKI DAVID A. IN 86,400.00 11.775 0.000
106146329 SLOCUM ANDRE S. OH 64,000.00 9.380 0.000
106146394 CHUBB DAVID A OR 42,445.00 11.500 0.000
106146457 PEREZ EDMUNDO MAURICIO PORTILL AZ 26,874.00 13.000 0.000
106146465 SOWARD ROGER WILLIAM IN 11,950.00 12.750 0.000
106146593 PARK BENJAMIN M. IN 19,400.00 14.375 0.000
106146600 BUCK RITA M. IN 90,600.00 10.775 0.000
106146604 MILISITS JEANE. OH 23,800.00 11.425 0.000
106146634 SHURTZ MICHAEL UT 21,000.00 12.850 0.000
106146684 FONICK THELMA C. OH 35,000.00 10.550 0.000
106146696 KELLY JERRY P. KY 46,500.00 10.525 0.000
106146785 RIDDLEBARGER ERNIE W. OH 34,200.00 11.525 0.000
106146983 KNUDSON HOLLY UT 245,000.00 13.450 0.000
106147189 HOUNSHELL LISA L. IN 23,300.00 12.925 0.000
106147214 ZYCK III JOHN J WA 24,000.00 12.500 0.000
106147253 VALPATIC LARRY J. IN 64,500.00 12.525 0.000
106147260 REED RONALD J. IL 43,100.00 12.050 0.000
106147279 WONGNGAMNIT BRANDON L. IN 52,400.00 13.250 0.000
106147281 KUBUROVIC ZORAN NY 455,000.00 11.100 0.000
106147295 PRANEETPOLGRANG PREECHA OR 22,500.00 13.000 0.000
106147327 SMITH LARRY L AZ 14,480.99 13.800 0.000
106147374 CURTIS KEITH ID 13,350.00 12.300 0.000
106147423 JONES JARRY LEE IL 38,100.00 12.000 0.000
106147446 STEWART ELAINE NY 107,000.00 12.300 0.000
106147565 MEANS M SHAWN OR 11,301.00 14.500 0.000
106147584 GUMAER DONALD W. IL 25,000.00 12.000 0.000
106147649 WOODBRIDGE JAMES W CO 139,400.00 12.650 0.000
106147657 AIKEN JR JOSEPH D CO 34,262.00 11.800 0.000
106147672 KILGORE DANIEL G UT 74,492.00 13.000 0.000
106147690 SMITHER NOEL FREDRICK KY 40,600.00 10.525 0.000
106147703 MILLS TIMOTHY J. KY 19,200.00 12.275 0.000
106147707 JOHANDES E. DANIEL IL 116,000.00 13.875 0.000
106147772 JOHNSON STANLEY G. IL 50,000.00 11.250 0.000
106147777 MORGAN HERBERT R. IL 18,500.00 11.550 0.000
106147779 CARPENTER MAURICE IL 88,200.00 11.350 0.000
106147782 JEFFCOAT JORDAN L. KY 17,700.00 13.025 0.000
106147784 LYNN ALAN S. KY 14,500.00 10.525 0.000
106147821 BOYETTE HUBERTUS J OR 43,113.00 12.500 0.000
106147824 NESSMITH WESLEY R AZ 13,864.00 13.200 0.000
106147875 BROMLEY GREGORY B. KY 45,200.00 11.275 0.000
106147878 HAYDEN KENNETH W. KY 56,500.00 9.400 0.000
106147983 REED JR ROYCE LEE CA 56,500.00 13.800 0.000
106147992 WALLACE FREDERICK L CA 71,500.00 12.250 0.000
106148018 WRONOSKY THOMAS GA 13,600.00 13.000 0.000
106148042 DINGER BRENT M OH 62,600.00 10.525 0.000
</TABLE>
<PAGE>
ALLIANCE FUNDING COMPANY
A division of Superior Bank FSB
Loans Funded and Available for Sale to 1997-2 as of 6/22/97
<TABLE>
<CAPTION>
Current Note
Account Name St Principal NRate Margin
- --------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C>
106148070 KINGSLAND JULIE E AZ 40,000.00 13.150 0.000
106148103 BUTLER STEPHEN WALTER OR 46,694.00 11.000 0.000
106148116 KOONTZ JANET IL 27,500.00 12.275 0.000
106148173 HENDERSON LEO D UT 47,500.00 11.800 0.000
106148175 DEPPERT THOMAS M UT 30,766.00 11.550 0.000
106148179 CASAL DONALD S WA 32,800.00 11.500 0.000
106148185 STEIN INGE CA 43,100.00 11.900 0.000
106148206 DECALUWE PETER J IL 14,800.00 11.900 0.000
106148212 KUTZER MARK A. MN 16,500.00 11.500 0.000
106148220 BARNES H. EDWARD KY 43,900.00 11.775 0.000
106148252 PARKS MICHAEL C NV 35,505.00 12.300 0.000
106148293 KAUFMAN ROBERT L WA 25,500.00 12.300 0.000
106148308 MARSHALL LARRY J CA 89,000.00 10.550 0.000
106148314 THOMPSON JR BRUCE A UT 25,728.00 12.400 0.000
106148381 ADAMSON CODY K UT 16,400.00 12.750 0.000
106148391 HELTSLEY, SR. DARRELL H. IL 55,600.00 12.050 0.000
106148402 BRUBAKER GARY L. OH 12,400.00 11.275 0.000
106148418 CLARK PETER B CO 40,000.00 11.000 0.000
106148496 GOLDEN MARY L. IN 57,400.00 10.775 0.000
106148546 NORTON ROBERT T CO 28,000.00 10.550 0.000
106148560 SKIDMORE EDWARD K AZ 76,000.00 11.000 0.000
106148576 HUDKINS SONNY IN 87,700.00 12.850 0.000
106148639 WELCH AMPARO AZ 20,650.00 12.500 0.000
106148645 TREVINO VIDAL G CO 15,000.00 11.550 0.000
106148647 SYKORA JERRY W CO 45,796.00 12.050 0.000
106148658 JENSEN DOUGLAS R CO 23,000.00 12.500 0.000
106148710 HOWELL RALPH GALEN CA 30,000.00 11.000 0.000
106148716 ERWIN JAMES GARY WA 33,629.00 11.800 0.000
106148745 LEMING SUSAN IL 108,400.00 12.800 0.000
106148770 DAVIS GALEN S UT 47,300.00 12.050 0.000
106148779 HIGGS ROBERTO UT 36,900.00 12.750 0.000
106148837 NOWFEL BRIAN J CO 85,000.00 12.250 0.000
106148848 NEMMER CRETEE I CO 57,700.00 12.250 0.000
106148873 BETZING MARTIN H CO 73,140.00 13.350 0.000
106148897 CLOUSER JOSEPH L. IN 20,500.00 13.020 0.000
106148903 WEST RONALD E. OH 49,700.00 10.275 0.000
106148919 CARSON LEWIS F CO 53,184.00 12.250 0.000
106148930 HEMPHILL DWAYNE G CO 48,000.00 11.800 0.000
106148933 BARKER LYNN E UT 75,950.37 14.550 0.000
106148936 BEATTY ELIZABETH M CO 51,500.00 11.000 0.000
106148940 BOOTH J RONALD CO 44,665.00 12.250 0.000
106148956 PALMER KIRTIS L OR 16,500.00 10.550 0.000
106148970 TODD MICHAEL R UT 14,075.00 12.050 0.000
106148979 NELSON GARY LYNN ID 14,034.00 14.250 0.000
106149071 SUNDQUIST LLOYD UT 42,000.00 11.250 0.000
106149158 FLEETWOOD THOMAS A AZ 85,300.00 11.000 0.000
106149165 WORKMAN RANDALL G UT 32,000.00 12.800 0.000
106149222 JONES JOANN OH 113,400.00 12.400 0.000
106149269 DEWOLF KAREN M OR 29,250.00 12.500 0.000
106149274 GREENWELL WALLY UT 45,411.00 11.550 0.000
106149356 RANDAL MARY M CO 65,001.00 10.400 0.000
106149365 KIRKPATRICK ARDEN K CO 39,700.00 10.800 0.000
106149444 RUSSELL MARK T AZ 44,400.00 12.050 0.000
106149455 CHRISTENSEN PAUL W CO 36,699.00 12.250 0.000
106149456 CLEMENT JEAN-PAUL CO 45,000.00 11.400 0.000
106149498 WILLIAMS JR. OSCAR IL 58,000.00 9.420 0.000
106149546 MCCARTNEY MARVIN D UT 18,000.00 11.800 0.000
106149663 CALDERON-GAUCIN MIGUEL ANGEL ID 21,920.00 12.250 0.000
106149667 GREER MARK D UT 74,500.00 10.300 0.000
106149682 EWING PAUL F UT 33,200.00 11.000 0.000
106149707 HERTEL MARK C CO 17,548.00 11.550 0.000
</TABLE>
<PAGE>
ALLIANCE FUNDING COMPANY
A division of Superior Bank FSB
Loans Funded and Available for Sale to 1997-2 as of 6/22/97
<TABLE>
<CAPTION>
Current Note
Account Name St Principal NRate Margin
- --------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C>
106149763 KOSKELLA KAREN L UT 189,375.00 11.750 0.000
106149780 HAMILTON TODD J UT 15,379.00 15.850 0.000
106149903 STEIN SALYE R CO 46,130.00 13.600 0.000
106149956 WADELL JAMES LEE CO 17,000.00 12.650 0.000
106149964 HANNUKSELA DAVID B WA 79,460.00 11.000 0.000
106150054 GLASS JOANNE M. IN 66,100.00 10.900 0.000
106150166 MEDINA IGNACIO CO 18,000.00 10.300 0.000
106150171 JOHNSON CEDRIC B CO 50,460.00 11.550 0.000
106150178 ARMSTRONG RUSSELL D UT 33,047.00 13.250 0.000
106150268 MCDONALD EDWARD D UT 43,900.00 13.600 0.000
800038796 WHITTON LYNN S NY 53,452.98 12.200 0.000
800047581 DAVIS RODNEY M NY 62,000.00 12.100 0.000
800122830 LAPIERRE PATRICIA E NY 117,172.89 12.250 0.000
800140709 POLHEMUS MARY L NJ 27,000.00 11.800 0.000
800141814 PICKETTE THOMAS R MA 23,609.47 12.500 0.000
800146169 CONLEY CHARLES D PA 55,758.75 11.150 0.000
800148298 KUTASI LINDA A FL 49,902.95 10.250 0.000
800150187 WILLIAMS MICHAEL D NY 22,600.00 12.750 0.000
800151581 FIORICA PETER NY 19,974.70 11.000 0.000
800152571 VOLCHIK ZEEV NJ 33,000.00 13.100 0.000
800152704 ROBINSON LLOYD N NJ 149,792.07 11.000 0.000
800161101 SHOOK MICHAEL L MI 64,000.00 10.050 0.000
800161879 SHINNS JOHNNY F NY 162,000.00 12.750 0.000
800163255 BECKFORD JOSEPH CT 40,361.69 12.600 0.000
800163297 BAUER CHARLES J PA 21,800.00 11.800 0.000
800163966 WATSON MARY SC 51,000.00 12.250 0.000
800164030 STALEY LONNIE R PA 52,900.00 12.050 0.000
800164089 MALUCHNIK DOUGLAS NJ 80,620.00 12.500 0.000
800164337 VAZQUEZ TED C PA 15,437.00 12.600 0.000
800164378 SPLINTER CHRISTOPHER P PA 46,000.00 11.500 0.000
800165623 SAMPSON FRANKLIN S NY 87,500.00 11.500 0.000
800169609 CANIANO ANTHONY D NJ 10,000.00 13.950 0.000
800169658 HINES JR FRANK B GA 38,543.00 10.550 0.000
800170367 FAGGIANI DOUGLAS J NY 24,575.00 10.125 0.000
800171282 STEWART EILEEN NY 39,600.00 13.750 0.000
800171605 MACNEIL PAUL MA 33,000.00 12.700 0.000
800174203 VELIU IMBERSON NY 159,200.00 9.650 0.000
800174492 IZZO ROBERT G NY 120,000.00 10.900 0.000
800174732 HARRINGTON KEVIN NY 26,673.68 12.650 0.000
800174849 AHUJA DEEPAK CT 120,000.00 11.050 0.000
800176026 CROPPER CALISSA M VA 28,500.00 13.500 0.000
800180150 STARKEY EVERT R FL 15,100.00 10.500 0.000
800181547 SCOTT MICHAEL G MA 26,307.40 12.800 0.000
800182685 LEE DONG KWAN NY 80,000.00 13.950 0.000
800183030 DEATON CLIFFORD R FL 42,300.00 12.250 0.000
800184384 LEBLANC RICHARD G FL 33,000.00 14.300 0.000
800184574 ULISHNEY JOSEPH P PA 38,180.00 11.650 0.000
800189029 LUTMAN CHARLES KEITH NC 59,911.98 12.100 0.000
800189532 ZIMPLEMAN DOREEN SC 118,800.00 10.550 0.000
800189680 BAILEY JOHN NY 30,000.00 12.300 0.000
800189771 HARLEY LARRY F MD 18,900.00 13.250 0.000
800190035 SINGER LINDA LOUISE FL 40,000.00 13.300 0.000
800192056 MAURO RICHARD P NY 65,000.00 12.200 0.000
800192650 GALANTE STEVEN R NY 30,000.00 14.000 0.000
800193955 WOODS ANDREW P PA 40,000.00 10.990 0.000
800194201 OGURCHAK CHARLES F NY 104,000.00 12.990 0.000
800194482 DAVIS WALTON NY 194,000.00 10.900 0.000
800194722 WEST KATHRYN B CT 30,000.00 10.800 0.000
800196180 BIKAKI FREDERIKA NY 29,905.07 12.650 0.000
800197964 DILORENZO LINDA M FL 22,000.00 13.850 0.000
800199382 FRASIER DAVID A SC 18,000.00 12.850 0.000
</TABLE>
<PAGE>
ALLIANCE FUNDING COMPANY
A division of Superior Bank FSB
Loans Funded and Available for Sale to 1997-2 as of 6/22/97
<TABLE>
<CAPTION>
Current Note
Account Name St Principal NRate Margin
- --------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C>
800199945 RICHARDS, JR. WILLIAM J PA 20,000.00 13.000 0.000
800200479 KEMPA PETER NY 182,750.00 10.250 0.000
800200792 RENTZ JR ROBERT L FL 11,300.00 12.300 0.000
800200800 CIANTO LISA ADAMAN PA 30,372.55 12.850 0.000
800200859 MURPHY CARRIE L FL 45,600.00 12.100 0.000
800201428 MARTIN LETITIA MD 29,400.00 12.990 0.000
800201543 MACKEY ROBERT A NC 51,000.00 11.950 0.000
800202137 STOFKO KYLE C PA 45,000.00 10.800 0.000
800202707 MCCOURT BRETT FL 61,600.00 13.100 0.000
800203945 UMHAFER NEIL NY 150,000.00 11.650 0.000
800204273 GOCEK GEORGE PA 22,000.00 11.650 0.000
800204323 DEBEE CARLENE S PA 14,549.00 12.050 0.000
800205072 HOLMES LEROY SC 55,250.00 9.900 0.000
800205742 KOWALSKI DANIEL J CT 21,000.00 11.600 0.000
800205767 FINKELSTEIN BARRY NY 93,000.00 13.990 0.000
800205957 WHITAKER MILAN M MA 88,850.00 13.000 0.000
800206328 VALDES GUSTAVO R. FL 17,000.00 12.100 0.000
800206492 BOGOSIAN ALLISON NY 22,000.00 10.550 0.000
800206740 FIRPO KENNETH NY 84,000.00 12.950 0.000
800206849 LUBRANO DONALD FL 22,700.00 11.800 0.000
800207011 SMITH LANCE A FL 42,400.00 10.750 0.000
800207375 HIGGINS BILLY W PA 89,250.00 12.250 0.000
800208068 BYUS JUDITH L MD 68,000.00 10.750 0.000
800208324 CACIO NICHOLAS NJ 22,500.00 12.500 0.000
800208563 GODBEE PAUL NY 100,000.00 11.500 0.000
800208712 DEAN KENNETH D PA 38,500.00 12.400 0.000
800209082 REIFSNYDER RAYMOND L FL 33,100.00 11.800 0.000
800209462 ADAMS JO ANNE NY 50,000.00 11.400 0.000
800209926 LUBER JAY L FL 27,500.00 10.550 0.000
800210213 ALIBRANDI FRANK J. MA 33,500.00 12.500 0.000
800210502 KOZAK STEPHEN NY 100,000.00 11.250 0.000
800210593 PEARSON VONDA D PA 25,094.00 12.050 0.000
800211591 DELANEY STEVE W PA 88,000.00 10.800 0.000
800211872 PANASCI STEPHEN S FL 16,500.00 11.650 0.000
800211880 PROCHASKA JOSEPH PA 52,000.00 9.990 0.000
800211997 EDWARDS ERNEST 0. NC 56,950.00 12.250 0.000
800212243 VAN SYCKLE DANIEL P MI 45,900.00 10.050 0.000
800212359 STARKES THAD RAY PA 97,750.00 11.550 0.000
800215667 KEEBLER CHRISTOPHER PA 21,687.00 11.500 0.000
800216244 FLEYSHGAKKER MARIA NY 18,900.00 11.800 0.000
800216442 STONE SARAH B. FL 10,000.00 12.050 0.000
800217408 WALLOWITCH GREGORY R PA 54,100.00 11.750 0.000
800219404 ROGERS DEBORAH A OR 30,000.00 11.550 0.000
800219602 LOMBARDI JR ALBERT MA 24,000.00 12.600 0.000
800220600 HOFFMAN CONSTANCE NY 100,000.00 11.500 0.000
800220683 KOLENDA THOMAS J PA 22,100.00 12.400 0.000
800220717 KONDIKOFF DARRYL A PA 70,000.00 9.650 0.000
800220865 ZUMBA KENNETH NY 12,105.00 12.750 0.000
800221020 HEUERMAN DONALD E CT 43,500.00 12.050 0.000
800221400 MASON WILLIAM J FL 35,350.00 10.650 0.000
800221814 KRAFT KEVIN NY 89,600.00 10.900 0.000
800222069 INGERSON DENNIS J FL 17,100.00 12.650 0.000
800224917 HARRIGER GARY E. NC 24,829.00 12.350 0.000
800224990 SORENSEN CHRISTINA J FL 12,500.00 10.300 0.000
800225039 BYRNE MICHAEL P MD 50,000.00 11.250 0.000
800225252 DEAN HELEN RUTH FL 44,400.00 10.050 0.000
800225302 ROSKI ROBERT B. FL 47,700.00 12.550 0.000
800225526 GARDNER WILLIE G FL 37,750.00 10.550 0.000
800225914 ROBBINS TIMOTHY A PA 15,750.00 12.050 0.000
800225963 INGOLD JR HUBERT HARLEY CA 50,000.00 12.500 0.000
800226078 TORRACO JULIA FL 79,100.00 10.250 0.000
</TABLE>
<PAGE>
ALLIANCE FUNDING COMPANY
A division of Superior Bank FSB
Loans Funded and Available for Sale to 1997-2 as of 6/22/97
<TABLE>
<CAPTION>
Current Note
Account Name St Principal NRate Margin
- --------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C>
800226805 FERGUSON OSCAR T PA 15,000.00 10.800 0.000
800226870 TINSLEY DOUGLAS DUANE NC 24,940.00 10.600 0.000
800227118 DAVIS KENNETH W OR 48,500.00 10.150 0.000
800227522 METZGER KARL PA 50,000.00 10.300 0.000
800230047 LLOYD DOLORES PA 42,000.00 13.750 0.000
800231318 ARIAS ALVARO B. FL 28,650.00 12.050 0.000
800236705 TARANTO DENISE NY 45,000.00 10.850 0.000
800241325 REITANO MARIA NY 480,000.00 13.450 0.000
- --------------------------------------------------------------------------------------
Loans tagged for 1st Subsequent Transfer 13,086,969.70 11.881 0.000
155010008 BRIGHT SAMMY GA 8,273.91 16.500 0.000
106083842 TOUSANT CHARLES C NY 19,491.20 12.990 0.000
106089597 FERNANDEZ SALVADOR FL 24,435.61 11.950 0.000
106102425 ADRIAN MARK NY 24,654.97 11.150 0.000
106122313 DOTSON DUSTY NC 39,286.23 12.500 0.000
106129719 BREWER RONALD M AZ 23,929.94 13.000 0.000
106130854 MCCRACKEN JAMES ROBIN FL 111,850.37 12.190 0.000
106132450 COLLINS RONALD LEE OH 3,568.91 18.450 0.000
106132463 BROOKS MARK GA 25,496.33 16.500 0.000
106132464 GONZALEZ EDWIN NY 26,750.70 16.500 0.000
106132477 CAPONE ANTONIO C MA 61,958.25 17.900 0.000
106132486 CERMELE JOSEPHINE NY 23,676.14 14.990 0.000
106132487 PHILBIN RICHARD J. NY 9,856.42 15.250 0.000
106132500 SILVA ALFRED F JR MA 61,460.96 13.750 0.000
106132529 GUGEL MARILYN R. NY 28,135.64 15.900 0.000
106132537 HUMPHREYS ROBERT HAROLD MD 52,869.99 15.750 0.000
106135341 HARRIS KATHLEEN D AZ 25,490.71 12.600 0.000
106135664 HALL HARRY FL 38,848.86 11.400 0.000
106138930 BRTVA LARRY M. IL 67,100.00 12.150 0.000
106139634 WALKER CHARLES R UT 27,584.55 15.350 0.000
106140531 PETERSON ROBERT M CA 30,000.00 11.975 0.000
106142763 LEBER MATTHEW E AZ 29,755.09 13.200 0.000
106142966 TACHAU JEREMY S CA 71,000.00 13.250 0.000
106143324 LEWIS BRADLEY S CA 25,700.00 13.400 0.000
106143942 LEIDENFROST WESLEY A. MN 28,500.00 12.750 0.000
106144382 RAHM JOHN N OR 48,000.00 12.750 0.000
106144433 KANG BUOK IL 41,000.00 13.000 0.000
106144571 LINDLY DALE R CA 86,500.00 11.975 0.000
106144578 LUTZ FRED NY 499,448.61 11.350 0.000
106145041 NIELSON CLAIR C UT 70,448.45 12.850 0.000
106145147 PATANIA CAROLYN CA 48,750.00 14.275 0.000
106145294 SHIPP DENNIS ALLEN AZ 15,424.00 13.350 0.000
106145541 HALE CHARLES OH 71,186.99 11.100 0.000
106146538 FURUICHI ISAMU CO 16,800.00 13.300 0.000
106147255 THOMAS CAYON L. KY 52,200.00 11.725 0.000
106147429 STONE THOMAS R. KY 45,500.00 9.310 0.000
106147647 LYON GORDON H UT 83,938.51 13.100 0.000
106148101 KERR CLINTON JR ID 22,958.00 11.650 0.000
106148604 BELMONT DANIEL C UT 36,237.00 11.550 0.000
106148785 WHITING DANIEL TYLER UT 19,622.00 14.250 0.000
106148867 SENETHAVILAY QUTHOM ID 15,450.00 12.050 0.000
106148898 KRUSE LANA KAY MN 49,000.00 11.275 0.000
106148902 LEGG CHRISTOPHER L. KY 18,300.00 12.525 0.000
106148988 LEGG CHRISTOPHER L. KY 60,000.00 10.525 0.000
106149006 LITSCHER LEWIS T. WI 26,000.00 12.350 0.000
106149318 BRISKER KEVIN IL 90,900.00 11.400 0.000
106149624 TRICOU BARBARA IL 15,000.00 11.100 0.000
106149805 CAMPBELL LORRAINE K UT 27,400.00 13.490 0.000
106149809 NIXT VIRGINIA A CO 24,859.00 12.750 0.000
106149891 HARPER MARS JR CO 11,500.00 12.050 0.000
106149970 QUINTANA JUAN C CO 32,000.00 11.650 0.000
</TABLE>
<PAGE>
ALLIANCE FUNDING COMPANY
A division of Superior Bank FSB
Loans Funded and Available for Sale to 1997-2 as of 6/22/97
<TABLE>
<CAPTION>
Current Note
Account Name St Principal NRate Margin
- --------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C>
106149976 FLEMING MICHAEL P AZ 11,650.00 12.050 0.000
106150030 JANG SEOK D. OH 82,800.00 11.900 0.000
106150464 M BORK SONJA S UT 13,000.00 15.600 0.000
800001620 BOUVIER JR ARTHUR L CT 24,472.13 11.750 0.000
800001851 JASON RICK NY 59,579.66 10.450 0.000
800005456 SECOLA JOSEPH P CT 39,124.20 12.400 0.000
800013716 WILLIAMS H GENE VA 113,013.28 10.950 0.000
800018335 COTICELLI CIRO NJ 202,234.58 12.250 0.000
800020117 HARDAWAY JAMES MD 33,075.01 11.600 0.000
800022055 SNELL REATHA NJ 64,477.31 12.950 0.000
800022345 ODEWALE SHOLA M RI 33,576.71 13.750 0.000
800024804 WILSON CARL VA 56,617.97 12.950 0.000
800045155 MOSSERI DAVID V NY 44,776.21 11.600 0.000
800045213 HYNES ROBERT J RI 29,827.04 10.500 0.000
800046997 SKROBOT JAMES F NC 28,646.92 11.750 0.000
800049066 WINKLHOFER ELLEN NY 27,312.76 10.750 0.000
800057721 ARMSTEAD JR DAVID NY 89,440.47 12.600 0.000
800062564 SOOKLALL JAGBANDAN NY 26,750.00 15.350 0.000
800064644 KENNEY JOHN C MD 55,395.00 11.150 0.000
800069247 MAGNARELLI MARK MA 42,560.11 12.500 0.000
800070625 CATON GARY RAY PA 49,353.14 12.900 0.000
800071367 CHERVINSKI KATHLEEN E FL 13,856.33 11.900 0.000
800071615 VASELL KARL NY 25,363.63 11.350 0.000
800072324 HAAS JOHN E PA 21,922.73 10.750 0.000
800073025 BAINES CYNTHIA MD 114,139.82 13.500 0.000
800075566 TENALIO JR RAY T PA 25,200.00 12.990 0.000
800077034 YANES JOSE ANTONIO NY 188,324.79 12.250 0.000
800077315 RIVERA DENNY FL 80,728.79 10.750 0.000
800077976 SHEPARD III JOHN F PA 11,748.38 12.750 0.000
800081226 MINFORD SONDRA A PA 30,800.00 11.750 0.000
800085797 JUMP ROBERT G FL 23,572.97 12.750 0.000
800097537 STRYSHAK PAUL J NJ 167,296.77 10.300 0.000
800099095 LIAKIOTIS DIMITRIOS FL 15,400.00 11.500 0.000
800101123 JONES ALVIN H MD 49,741.58 10.500 0.000
800103350 MELENDEZ MARIA NJ 88,785.91 12.250 0.000
800122293 BETZ DENISE PA 15,865.76 11.500 0.000
800124851 HARDY DEBORAH A NC 40,000.00 10.800 0.000
800131088 WASHENBERGER JEFFERY A VA 24,990.00 13.350 0.000
800131211 PRICE ROLLE KELLY NY 137,441.66 12.850 0.000
800135071 CONIGLIARO ANTONINO NY 29,900.00 13.450 0.000
800138893 HARNER KEMPER LEE SC 37,467.84 11.750 0.000
800139073 GONZALEZ JOSEPH D NY 282,785.96 10.750 0.000
800139610 SMITH DERRICK NY 212,093.16 11.500 0.000
800141673 M'BENGUE AMADOU PA 29,895.11 10.850 0.000
800142663 HANCOCK JAMES B NC 48,723.20 9.250 0.000
800143521 LOPEZ CESAR A NJ 37,500.00 11.350 0.000
800145088 SANG CAROLE NY 69,624.92 13.240 0.000
800147175 VILLAFANE ADA I PA 25,471.49 10.050 0.000
800148561 THAW CHARLES NJ 70,000.00 9.550 0.000
800148819 NOVICELLI GAIL CT 41,100.00 12.500 0.000
800150872 MITCHELL WILLIE MAE NY 54,440.47 12.250 0.000
800152795 WHITEHEAD REBECCA E SC 53,416.11 11.000 0.000
800152985 SMITH CARL NC 56,418.77 11.800 0.000
800156416 SCOTT RUBY HALL GA 34,950.00 9.150 0.000
800157570 PINALES DANNY PA 25,415.00 11.900 0.000
800158008 VANBRUNT WILLIAM NJ 36,000.00 9.550 0.000
800158990 MUDD EDWARD E MD 168,000.00 12.850 0.000
800160681 SIGMON H DAVID NC 24,900.00 12.750 0.000
800162448 MILTON ELEANOR M PA 32,800.00 12.800 0.000
800163438 WATERLAND HELEN DE 43,955.00 0.000 0.000
800169286 AMINY MOHAMMED Y NY 160,650.00 11.550 0.000
</TABLE>
<PAGE>
ALLIANCE FUNDING COMPANY
A division of Superior Bank FSB
Loans Funded and Available for Sale to 1997-2 as of 6/22/97
<TABLE>
<CAPTION>
Current Note
Account Name St Principal NRate Margin
- --------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C>
800170250 SUERO EMILIANA NY 20,500.00 13.600 0.000
800173643 WOOD MICHAEL A PA 183,200.00 11.000 0.000
800173734 GROSE TIMOTHY J FL 45,000.00 9.400 0.000
800176604 GINYARD DELORIS A MD 30,000.00 0.000 0.000
800176984 THOMPSON SR KENNETH A MA 21,200.00 12.990 0.000
800178238 JONES ENID NY 83,200.00 12.650 0.000
800179723 QIAN REN JIAN NY 35,600.00 15.850 0.000
800179772 WINNOR RICHARD ALLEN MD 50,211.00 11.800 0.000
800181141 DUNN SUSAN B. PA 25,000.00 11.250 0.000
800181158 ROSEN RICHARD S PA 11,000.00 12.900 0.000
800181869 PHILPOT JR THEODORE NY 248,486.52 11.900 0.000
800181935 DALY JAMES E MA 28,500.00 12.750 0.000
800182065 ARCIPRETE RICHARD NY 176,000.00 10.750 0.000
800182768 LUKE DONALD L FL 32,000.00 11.900 0.000
800184376 LITTS TARA L FL 22,700.00 12.050 0.000
800184426 WITTIG JOHN PA 27,000.00 12.050 0.000
800185597 MCDOWELL DANIEL FL 10,420.00 12.750 0.000
800187189 WRIGHT SR JOSEPH C PA 22,189.00 11.150 0.000
800188294 FOWLER ROBERT P FL 50,400.00 12.750 0.000
800188682 THOMPSON III CHARLES E GA 10,000.00 13.250 0.000
800188872 HAGLUND KARL T MA 86,450.00 11.750 0.000
800189227 MAPES LINDA K FL 55,200.00 11.050 0.000
800190639 COULAZ MICHAEL E NY 78,500.00 10.500 0.000
800190910 RAULSTON DAVID M UT 34,000.00 12.600 0.000
800193401 COLLINS PETER B CT 40,000.00 10.650 0.000
800195232 RIOS JAN NY 81,000.00 9.990 0.000
800195828 HARTFORD JERALD A. FL 10,000.00 12.300 0.000
800199747 DIAZ LUIS NY 22,500.00 12.500 0.000
800200560 WALKER-STEPHENS OLIVE M.S. MD 42,780.00 13.500 0.000
800202715 RAY JR RALPH E MD 37,788.00 12.050 0.000
800203069 MASSIE PATRICIA A FL 26,500.00 13.250 0.000
800204620 CLAYCOMB GARY FL 43,200.00 12.550 0.000
800208472 VIGGIANO JR NICHOLAS CT 28,500.00 12.750 0.000
800209694 PIZIK BARRY L FL 41,650.00 13.500 0.000
800210015 DARQUEA CECY NY 450,000.00 11.600 0.000
800210650 GRIMES BERT A FL 27,000.00 11.150 0.000
800211120 OEHLER LYNN NV 50,000.00 10.500 0.000
800211252 BUTLER ANDREA NY 95,000.00 14.375 0.000
800211658 BHAGWANDEEN SUMITRA NY 34,000.00 12.750 0.000
800212128 MELENDEZ MAGDALENA FL 24,500.00 10.800 0.000
800212367 DONERO JOSEPH M FL 26,900.00 12.150 0.000
800212425 KATZ R DAVID PA 202,925.00 11.990 0.000
800212862 GRECO GERARD A NY 20,000.00 9.900 0.000
800214074 OGONOWSKI EDMUND MD 42,000.00 11.500 0.000
800214744 DIXON MARY T. FL 26,650.00 14.000 0.000
800214793 REED DAVID W. NC 16,552.00 12.750 0.000
800215287 STONE LAWRENCE FL 34,800.00 12.400 0.000
800215469 NANAN FAYE FL 78,200.00 11.900 0.000
800216194 BOHANON L C NY 10,000.00 10.300 0.000
800216277 CLARK ELIZABETH R NY 69,500.00 13.700 0.000
800216327 FISHER BETTY J MO 20,000.00 9.400 0.000
800216947 BRADSHAW DANIEL MO 49,000.00 10.650 0.000
800218869 PAUL GLADYS NY 30,000.00 10.990 0.000
800220105 MUSACCHIO LELIO CT 100,000.00 10.990 0.000
800220170 LOCKLEY GLORIA S PA 32,000.00 13.750 0.000
800220675 ARRINGTON JANET W GA 70,550.00 11.650 0.000
800221251 MCINTOSH DONN H MI 78,000.00 11.550 0.000
800221483 QUARANDA ANTHONY R FL 70,720.00 10.750 0.000
800222523 THEODOROPOULOS VASILIOS S NY 48,900.00 13.150 0.000
800222564 DALTON MARY KATHLEEN OH 54,000.00 12.450 0.000
800222887 DEESE ROBERT H MD 60,000.00 12.250 0.000
</TABLE>
<PAGE>
ALLIANCE FUNDING COMPANY
A division of Superior Bank FSB
Loans Funded and Available for Sale to 1997-2 as of 6/22/97
<TABLE>
<CAPTION>
Current Note
Account Name St Principal NRate Margin
- --------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C>
800223075 FRAZIER MATTHEW WAYNE MD 43,400.00 11.500 0.000
800223091 FRAZIER MATTHEW WAYNE MD 39,900.00 11.500 0.000
800223174 MILLER ERIC PA 28,000.00 11.250 0.000
800223588 BREEN DIANNE KVAPIL WA 33,000.00 10.300 0.000
800223638 TESSIER JOSEPH FL 25,000.00 12.750 0.000
800223752 NGUYEN THAN FL 20,550.00 12.750 0.000
800223893 CUZO LUIS NJ 117,000.00 11.000 0.000
800225328 JONES CHARLES W FL 12,700.00 12.650 0.000
800225377 FRACK GARY W OR 27,800.00 9.900 0.000
800225583 LEMMONS SHARON FL 29,750.00 9.800 0.000
800226037 GROGAN MICHAEL T OR 31,450.00 11.800 0.000
800226268 KALKMAN ROBERT RODGERS NJ 123,500.00 11.250 0.000
800228405 SHIELDS OLIVER R FL 46,000.00 10.650 0.000
800229833 LOUGHNER HARRY E PA 15,000.00 11.350 0.000
800230211 WALKO STEPHEN J PA 57,200.00 13.990 0.000
800230757 PASTORI JAMES H OR 35,000.00 10.150 0.000
800232282 CHIMIENTI BEULAH L OR 33,600.00 10.900 0.000
800232506 BROWNE ELTON NY 59,000.00 10.990 0.000
800232514 GASKELL JR ARTHUR R FL 35,600.00 12.500 0.000
800232894 FREEMAN LARRY RICHARD NC 50,670.00 10.350 0.000
800233314 DAVIS JAMES S PA 27,090.00 11.800 0.000
800233728 HUYNH PHAN NY 70,850.00 12.500 0.000
800234098 GEIGER RACHEL FL 22,000.00 8.990 0.000
800235442 REYES SILVESTRE O RI 80,750.00 12.250 0.000
800235913 STEPHENS TERRIE FL 10,000.00 13.250 0.000
800236275 BENTING GARY LEE MI 76,000.00 11.900 0.000
800237448 DEWAELE MARILYN T FL 40,900.00 12.000 0.000
800239592 BARLOW DOROTHY E FL 36,000.00 11.150 0.000
800241259 GORSKI GARY M PA 32,096.00 12.050 0.000
800241366 NEEDHAM DONALD W. NC 32,300.00 11.500 0.000
800245037 HORNER DANIEL V FL 22,400.00 11.750 0.000
- --------------------------------------------------------------------------------------
Loans in Servicing not yet tagged for sale 11,092,843.51 11.839 0.000
106141620 VELEZ LUIS NY 125,000.00 15.000 0.000
106141705 HOLMES JR LEWIS W VA 85,000.00 11.100 0.000
106142207 VELEZ LUIS A NY 125,000.00 15.000 0.000
106143428 PETRU GHEORGE MI 56,700.00 12.300 0.000
106143867 MILLER TIMOTHY J OR 20,700.00 12.750 0.000
106144056 TOLA DURO CT 104,000.00 12.800 0.000
106144097 SCHNOOR LEO IL 45,000.00 12.000 0.000
106144297 KOULADJIAN KEVORK NY 135,000.00 14.750 0.000
106144509 COX ANDREW W IL 37,100.00 14.450 0.000
106145260 THOMAS JANICE L DC 88,700.00 13.700 0.000
106145298 FERNANDEZ NIEVES NJ 180,000.00 12.300 0.000
106145583 HESCH JODI M CO 26,500.00 13.300 0.000
106146072 CLABAUGH ROBERT NV 22,700.00 12.925 0.000
106146105 RAMOS MARIA NY 315,000.00 12.800 0.000
106146133 TSELEKIS PETER N IL 42,000.00 12.350 0.000
106146720 ASHKAR CHILDRENS FAMILY TRUST CT 201,500.00 12.350 0.000
106146805 ANTHONY J DELANGO REALTY CORP NY 210,000.00 13.050 0.000
106146824 ANZELMO JOSEPH F AZ 34,500.00 15.650 0.000
106146916 BURNS JEFFREY M CO 49,000.00 12.050 0.000
106147154 BURROWS R REID UT 24,020.00 14.550 0.000
106147230 SCHMIDT PETER A MN 20,000.00 13.990 0.000
106147275 KRIEGISH KENN R MI 24,500.00 11.500 0.000
106147303 HUNTER NIMIA C WA 25,000.00 12.600 0.000
106147432 MILLER JERRY LEE KY 46,700.00 11.525 0.000
106147436 BYERS GORDON A. KY 43,700.00 12.275 0.000
106147450 KOVAL RICHARD M CT 210,000.00 13.100 0.000
106147473 CLARDY-BOWMAN GWENDOLYN AZ 13,000.00 13.550 0.000
106147489 DI LEO SR VITO NY 30,000.00 14.000 0.000
</TABLE>
<PAGE>
ALLIANCE FUNDING COMPANY
A division of Superior Bank FSB
Loans Funded and Available for Sale to 1997-2 as of 6~22/97
<TABLE>
<CAPTION>
Current Note
Account Name St Principal NRate Margin
- --------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C>
106147548 PETRICCIONE MICHAEL J CT 105,000.00 14.500 0.000
106147568 JOHNSON WILLIE T IL 200,000.00 15.000 0.000
106147581 PEELE JOSEPH L NY 159,700.00 11.400 0.000
106147630 CAMACHO RAMON NY 193,000.00 13.990 0.000
106147858 PITRE ARTHUR J NY 43,600.00 10.650 0.000
106147864 BENNETT ROOSEVELT OH 49,100.00 12.375 0.000
106147963 HOWARD ROBERT L MI 36,000.00 14.000 0.000
106148055 FULTZ ROBERT IL 70,700.00 12.800 0.000
106148067 KOCH SUSAN L CA 36,150.00 11.800 0.000
106148137 MAJEWSKI DAVID M MI 113,000.00 10.350 0.000
106148188 CARROLL JOHN UT 17,300.00 14.800 0.000
106148202 BURTON ERNEST L. KY 101,800.00 14.125 0.000
106148216 ESPINOSA JUAN IL 168,000.00 11.850 0.000
106148222 LACY BEVERLY KAY KY 29,300.00 10.975 0.000
106148248 NOES GARY C CA 45,000.00 11.250 0.000
106148312 BROUGH F WILLIAM UT 30,242.00 12.200 0.000
106148390 WHITE ROBERT H JR NY 126,900.00 12.650 0.000
106148460 SEATH VALERIE G WA 95,000.00 11.250 0.000
106148497 WETHINGTON LINDA L KY 45,200.00 13.375 0.000
106148538 KASCAK PHILLIP T CO 35,920.00 13.250 0.000
106148599 MARTIN REGINALD NY 79,200.00 14.500 0.000
106148657 FOREST ALAN O AZ 15,000.00 10.800 0.000
106148689 CARLSON LAWRENCE DEAN WA 73,733.00 11.500 0.000
106148736 COATS SR DAVID A CO 23,000.00 10.800 0.000
106148739 SPRINGS LAMARR TIMOTHY IL 15,300.00 12.425 0.000
106148756 WOODY MELVIN E. KY 62,100.00 10.525 0.000
106148759 SCARBERRY WILLIAM R. MI 93,600.00 10.950 0.000
106148797 E JONES TREVOR W GA 50,000.00 11.400 0.000
106148833 FRIDLEY JASON E IN 25,200.00 11.800 0.000
106148860 WEST RONALD A ID 16,000.00 11.000 0.000
106148870 SMITH JERRY K AZ 16,739.00 14.800 0.000
106148879 BOYLES BELINDA E NV 27,917.00 11.650 0.000
106148909 OSBORN MELODY L OH 57,800.00 10.525 0.000
106148910 TUCKER JAMES E. KY 17,800.00 14.625 0.000
106148998 BREEDEN CHARLES R. OH 44,100.00 14.225 0.000
106149051 HEFFERNAN III STEPHEN F OR 16,717.00 12.050 0.000
106149066 TAYLOR MARILYN WA 140,000.00 12.000 0.000
106149074 BIAS BRENDA J WA 17,100.00 12.400 0.000
106149090 HILL TIMOTHY THOMAS AZ 26,200.00 14.250 0.000
106149153 KIRSCHENBAUM JOHN M WA 80,000.00 12.250 0.000
106149157 STAFFORD MARCUS E OR 34,350.00 11.550 0.000
106149194 JR TOMAS CAMACHO CO 25,000.00 11.800 0.000
106149242 REYNOLDS JEFFREY SCOTT UT 60,500.00 12.200 0.000
106149260 BUNKER KAREN CA 26,900.00 12.750 0.000
106149273 STEVENS BRUCE H NV 39,500.00 11.800 0.000
106149277 GREENE WILLIAM J WA 50,091.00 12.750 0.000
106149298 WOLF BARRY L NY 18,700.00 11.990 0.000
106149319 MOHR SHANOR IL 55,200.00 12.400 0.000
106149323 HOWARD MARY KATHERINE MI 28,000.00 12.650 0.000
106149386 GROGAN JEFFREY B OR 40,607.00 11.850 0.000
106149393 PRECIADO JUAN E. IL 16,200.00 12.725 0.000
106149452 STILWELL TIMOTHY WAYNE NC 11,600.00 11.650 0.000
106149508 REYES MARIA G. IL 58,500.00 11.550 0.000
106149516 BRUSS WILLIAM E IL 32,000.00 12.850 0.000
106149555 PARKS INES M CA 63,596.00 15.050 0.000
106149600 GRISTE WILLIAM E CA 41,000.00 11.550 0.000
106149628 MENDEZ REYNALDO M. IL 32,600.00 12.300 0.000
106149669 ANDERSON RONALD GENE NV 40,000.00 12.050 0.000
106149731 KNOTZ ROBERT T. MN 82,200.00 9.110 0.000
106149749 SULLIVAN TINA M. WI 25,100.00 11.050 0.000
106149762 ALLRED GUY D UT 28,091.00 11.550 0.000
</TABLE>
<PAGE>
ALLIANCE FUNDING COMPANY
A division of Superior Bank FSB
Loans Funded and Available for Sale to 1997-2 as of 6/22/97
<TABLE>
<CAPTION>
Current Note
Account Name St Principal NRate Margin
- --------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C>
106149786 PHARES ANN CO 25,000.00 11.250 0.000
106149823 YEAGER CHRISTINE A. MN 86,300.00 8.610 0.000
106149825 BROWN TEDDY F. KY 87,400.00 10.525 0.000
106149851 JACKSON WILLIAM IL 82,000.00 9.900 0.000
106149893 HAIOLA GARY K UT 11,000.00 15.600 0.000
106149910 POWELL DARWIN F UT 19,540.00 13.750 0.000
106149936 FUERY BESSIE M. IL 35,000.00 11.750 0.000
106149978 GORDON RANDY D UT 20,300.00 13.850 0.000
106149985 BUJOSA JOSE CT 63,000.00 11.100 0.000
106150085 NALDER TODD R UT 30,845.00 12.500 0.000
106150105 VUONG LOC THI CO 80,000.00 12.750 0.000
106150141 LUCHENE THOMAS J. IN 29,100.00 10.400 0.000
106150172 SCHMITZ MICHELLE L CO 43,274.00 12.750 0.000
106150176 JIMENEZ MICHAEL J CO 23,300.00 12.400 0.000
106150337 LOERA EFREN VIGIL CO 17,613.00 10.550 0.000
106150342 KORDISH ANN D OH 71,500.00 11.100 0.000
106150438 NAAMAN MARK BRADLEY IN 15,700.00 11.900 0.000
106150574 JORGENSEN JEFF R UT 61,000.00 13.675 0.000
106150700 CULLEY BRIAN L UT 11,997.00 13.600 0.000
106150795 CARTER HEATHER AZ 112,000.00 11.250 0.000
106151027 BULL JAMES D UT 52,000.00 13.000 0.000
800132029 CHOI HYUN SIK PA 53,000.00 13.700 0.000
800149056 BALYOZIAN CHARLES J MA 34,800.00 12.000 0.000
800149528 REID LYDIA NY 96,000.00 11.950 0.000
800164311 BUTTENSCHON DENNIS R NY 23,075.00 12.190 0.000
800164493 BUTTENSCHON DENNIS R NY 15,275.00 12.190 0.000
800169518 SADIQ ZAHID NJ 110,000.00 13.990 0.000
800170284 PHELAN T KEENAN NJ 69,740.00 13.700 0.000
800170540 SCHNEIDER JR CHARLES J NY 27,700.00 14.250 0.000
800183808 CUNNINGHAM LURLINE NY 75,000.00 10.900 0.000
800183972 BASTIAN DONALD R NJ 19,214.00 16.000 0.000
800184806 AYERS RUTH NY 31,300.00 13.350 0.000
800186546 NEEDHAM JR EUGENE P PA 12,000.00 14.500 0.000
800190563 WALLACE LEROY NY 40,000.00 13.800 0.000
800191868 TRINH NAM NY 31,500.00 12.200 0.000
800195513 KUHN JR THEODORE H NY 34,000.00 11.850 0.000
800196644 DOLDE DONALD L PA 38,392.00 13.250 0.000
800199549 TEIXERA FLAVIO RI 40,000.00 10.500 0.000
800199853 MAGNUSON PETER J NY 105,000.00 10.400 0.000
800201535 GILBERT GWENDOLYN E NJ 60,000.00 15.100 0.000
800202103 DARDEN ANTONEEN Y NY 187,450.00 13.600 0.000
800207664 YOUNG SR. ROGER A NY 27,930.00 11.900 0.000
800207722 YOUNG SR ROGER A NY 33,530.00 11.900 0.000
800208514 STANTON RICHARD D FL 33,000.00 10.600 0.000
800211229 MCMULLEN CYNTHIA L NY 60,000.00 10.750 0.000
800211682 SILBERT CRAIG PA 43,350.00 12.500 0.000
800211906 IOELE DAVID J NY 18,500.00 12.400 0.000
800211922 GRACI CHARLES P NY 49,600.00 11.400 0.000
800212383 CASCIA PHILLIP CT 27,850.00 12.900 0.000
800215618 KENDER VINCENT A NJ 30,000.00 11.650 0.000
800215683 DANIELS DALLAS PA 49,300.00 12.150 0.000
800215824 O'MALLEY JR JOHN C PA 19,857.00 10.800 0.000
800215907 BERMAN SELMA NY 110,500.00 13.200 0.000
800216723 GARNER JR JAMES C MD 29,300.00 12.050 0.000
800217127 KEEPERS THOMAS PA 12,500.00 12.650 0.000
800218950 GUISTWITE BRUCE D PA 59,400.00 12.500 0.000
800219057 ROBINSON SR STEPHEN M GA 23,200.00 13.950 0.000
800219073 DUVALL WILDA E FL 22,000.00 10.550 0.000
800219370 SALLUSTRO WILLIAM ROBERT NY 117,300.00 12.150 0.000
800220543 BENISH LOUIS D PA 22,000.00 12.050 0.000
800221590 LEVIELLE HEIDI A NJ 104,000.00 11.550 0.000
</TABLE>
<PAGE>
ALLIANCE FUNDING COMPANY
A division of Superior Bank FSB
Loans Funded and Available for Sale to 1997-2 as of 6/22/97
<TABLE>
<CAPTION>
Current Note
Account Name St Principal NRate Margin
- --------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C>
800223257 MORRISON WILLIAM R PA 35,500.00 12.500 0.000
800224347 UHATAFE NAVITALAI FL 28,200.00 11.250 0.000
800225260 MAGRAW EDWARD A MO 92,500.00 9.400 0.000
800225476 ANEWISHSKI SAMUEL N OR 97,500.00 12.150 0.000
800226730 BALLANTYNE CAROL E MO 23,000.00 10.150 0.000
800228710 SCHETTINO DANTE CT 30,000.00 10.550 0.000
800228975 HOUSEMAN STEPHEN D FL 40,000.00 10.150 0.000
800231201 FERGUSON JOYCE L PA 65,000.00 10.600 0.000
800231235 GOODINSON DOUGLAS A RI 99,000.00 11.900 0.000
800231284 COSTELLO JOHN M MA 48,000.00 0.000 0.000
800238487 CUNNINGHAM ANTHONY E GA 73,200.00 9.900 0.000
800243099 COOKE CRANE J. NC 72,450.00 12.550 0.000
800245367 STANCHI CHRISTOPHER W FL 44,000.00 10.990 0.000
800245441 WOLFF KENNETH J PA 76,900.00 12.500 0.000
800248940 WEBB PAULINE G FL 88,000.00 10.750 0.000
- --------------------------------------------------------------------------------------
Loans Funded and not yet in Servicing 9,636,155.00 12.330 0.000
Total Fixed Rate Loans Funded and Available 33,815,968.21 11.995 0.000
Grand Total Funded and Available 90,564,858.57 11.055
</TABLE>
<PAGE>
ALLIANCE FUNDING COMPANY
A division of Superior Bank FSB
Loans Funded and Available for Sale to 1997-2 as of 6/22/97
<TABLE>
<CAPTION>
Current Note
Account Name St Principal NRate Margin
- --------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C>
CLOSED NOT FUNDED
- -----------------
106151602 ALLRED MICHAEL S AZ 141,210.00 9.875 5.000
106148325 BUTLER VELMA IL 33,000.00 10.750 5.750
106149643 COX STEPHEN J. IN 46,800.00 10.125 5.000
106148693 EICHER DAVID J UT 110,500.00 10.125 5.500
106149653 ERICKSON DONALD WA 66,000.00 11.250 6.750
106150631 EZELL JOSEPHINE IL 82,800.00 11.250 6.500
106148822 GILLIAM FREDERICK G. MI 68,900.00 13.500 7.750
106146504 GRASWICK RONALD J. MI 73,200.00 13.500 7.750
106148945 HAGGINS OLIVER NM 120,000.00 9.000 4.500
106148921 HOVINGHOFF BRENT UT 74,800.00 11.750 6.900
106149421 ISMAIL ABDALLAH MI 85,100.00 9.750 6.500
106150380 JAMES SHARMON S. IL 204,800.00 10.125 6.250
106150414 MAGEE YVONNE IL 88,500.00 10.650 7.000
106150425 MONTGOMERY BRUCE A. MI 157,200.00 10.250 5.500
106149841 MONTGOMERY DAVID IL 215,100.00 9.125 6.250
106149928 NIKOLAOU DESPINA IL 157,500.00 9.500 5.550
106150053 ORCUTT NANCY A. IN 56,000.00 11.375 6.000
106150387 PAYNE JOHN IL 119,000.00 11.875 7.000
106150557 PHONTHIBSVADS MIXAY IL 117,300.00 11.125 6.250
106149862 RAHMAN MATIUR MI 31,500.00 9.875 6.500
106149089 RAINEY ROGER R UT 144,500.00 11.375 7.750
106150616 TUTKO DAVID E CO 102,000.00 9.000 4.500
106149132 VAN RIPER III CHARLES A. MI 47,000.00 8.750 5.500
106151274 WILLIAMS TRYONNE CO 79,900.00 9.875 6.250
106148581 WILSON STEVEN CRAIG IN 81,500.00 10.000 6.000
800213001 CHARETTE THOMAS J PA 85,000.00 9.250 4.500
800213670 CONWAY JASON M PA 35,600.00 12.875 7.500
800214835 KROL WILLIAM F CT 84,000.00 11.500 7.500
800225195 POL JOHN A PA 65,000.00 9.000 4.250
800225294 CELA LEGRAND NJ 39,000.00 12.375 6.750
800227050 SCHELL KARL E PA 121,300.00 10.500 5.750
800233165 REICHARD SR ROBERT J PA 94,500.00 10.500 5.750
800234783 HERNANDEZ GILBERT R WA 183,250.00 9.000 4.500
800237034 ABDUL GHANI ISMAILA NY 86,000.00 10.500 5.500
800237513 WEISBLAT JACK J FL 125,000.00 9.500 4.750
800247033 GEORGE VALERIE H PA 32,500.00 10.875 5.500
800247041 GEORGE VALERIE H PA 40,000.00 12.875 7.500
800250185 DAVIS DEBRA A FL 104,000.00 9.750 5.250
800250250 GONZALEZ JOSE R FL 94,500.00 10.500 5.750
- --------------------------------------------------------------------------------------
ARM Loans Closed and not Funded 3,693,760.00 10.345 5.920
SET TO CLOSE
- ------------
106148272 BURNHAM ALFRED R WA 68,000.00 10.250 5.750
106151437 CASS RONALD L. MI 57,800.00 11.250 6.500
106146289 CURTIS PAUL WILLIAM UT 146,000.00 11.375 7.250
106151016 DIKHO JOHN T MI 31,500.00 10.000 6.750
106150446 DOZIER LEE M. IN 85,000.00 11.250 6.500
106149435 DUNTHORN JAN CLAUDE WA 100,800.00 10.500 6.000
106146735 EASTER STEVEN L SR WA 112,000.00 12.875 8.250
106150611 EDGE RONALD H UT 88,000.00 10.625 7.000
106148506 FRESSE ORLANDO IL 131,700.00 10.375 6.500
106151116 GALBREATH RUSSELL L. WI 45,900.00 10.500 5.750
106147801 GALLEGOS CASEY WA 49,200.00 13.750 8.500
106145715 HYATT FRANCISCUS L WA 161,200.00 13.500 8.500
106147905 JENSEN MARSHA ID 48,300.00 12.625 7.650
106150451 KELLY WANDA J CO 93,500.00 11.625 7.000
106150730 KOPP SHANDA S. IL 127,500.00 8.875 3.750
106147530 LORDS BETH C UT 175,000.00 11.375 6.750
106149478 MARK TERI J CO 128,000.00 11.125 6.500
106150740 MARTIN TAMARA A. OH 72,200.00 11.250 6.500
</TABLE>
<PAGE>
ALLIANCE FUNDING COMPANY
A division of Superior Bank FSB
Loans Funded and Available for Sale to 1997-2 as of 6/22/97
<TABLE>
<CAPTION>
Current Note
Account Name St Principal NRate Margin
- --------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C>
106146638 MATHEWS RAY UT 28,000.00 11.875 7.250
106151502 MAY SIDNEY F. IL 260,000.00 11.000 7.000
106149954 MCCLURE PATRICIA L WA 138,400.00 13.250 8.250
106150508 MUHLENFELD DIANE M. IL 152,100.00 10.000 6.000
106150427 NORRIS DARRELL R. MI 87,300.00 11.125 7.250
106150907 PRICE THOMAS A. IN 198,000.00 10.500 5.750
106149338 PURNELL STEPHANIE M CO 38,000.00 10.500 5.500
106148687 RAMIREZ AURELIA G WA 51,500.00 13.500 8.500
106150287 STEPHENSON MICHAEL C CO 305,600.00 9.875 6.250
106149756 STOVER PATRICIA A. MI 52,000.00 12.875 7.500
106150107 VANCE DONNA M CO 72,250.00 9.875 6.250
106148926 VILLALOBOS EZEOUIEL S WA 63,750.00 12.250 7.750
106147027 WALRATH SCOTT WI 93,000.00 11.375 6.000
106148928 WINTER JULIE ANN UT 131,000.00 10.625 6.000
800155236 BRICKNER THEODORA NJ 101,600.00 9.875 6.000
800160277 MCKINNON MARY NY 148,000.00 10.750 7.500
800164733 RITTER STEVEN J PA 115,000.00 12.500 8.500
800165664 MCGUIRE THOMAS J NY 120,250.00 11.875 7.750
800168460 LARACUENTE JULIO NY 170,000.00 10.500 6.000
800170771 PALMER LE ROY NY 51,000.00 12.000 7.500
800171001 HEEREN RICHARD NJ 44,000.00 11.000 7.000
800173650 GRAZIANO MARC A NJ 164,000.00 11.125 8.250
800175929 DZIETCZYK DARIUSZ NJ 94,800.00 10.000 6.250
800176356 LONGO DIANE PA 50,000.00 10.125 6.250
800180234 VANATTA JEFF A PA 39,000.00 12.250 7.000
800180390 OLSON DONALD CT 120,000.00 13.500 8.500
800182925 BARCA JOSEPH NY 78,000.00 10.375 6.750
800183725 HOLMES JAMES R NJ 220,000.00 9.750 5.500
800184707 DARLING MICHAEL P. NY 100,000.00 12.250 7.250
800184988 TOCCI MICHAEL A PA 104,550.00 11.125 6.250
800185647 ARNDT JAMES R PA 41,300.00 12.500 8.500
800186991 KOCHER KELLY K PA 420,000.00 11.375 6.000
800188179 BURROUGHS GORDON C NJ 119,850.00 12.000 7.500
800188708 SCALFARO KELLY A PA 95,900.00 11.000 6.250
800190159 CURTIS SHARON A PA 53,910.00 11.250 7.250
800191033 SANCHEZ IDALIA CT 87,210.00 10.500 6.750
800191215 LAMBROPOULOS AFRODITE NY 200,000.00 10.500 6.000
800193898 REED SANDY C PA 66,400.00 12.125 8.250
800194425 ABLEOFF EDWIN PA 120,700.00 9.875 4.750
800194508 SHOTT NATALIE NJ 65,970.00 9.625 5.750
800195075 NAVENTA JAIME NY 120,000.00 9.750 5.250
800197014 BOYENS JUANITA PA 33,600.00 10.875 6.000
800197337 CURCIO ROBERT L NJ 76,500.00 11.000 7.500
800197477 SABO TODD PA 49,300.00 9.750 5.250
800199317 JACKSON NORLISHA DC 65,250.00 10.750 6.250
800202640 BARTKOWSKI JEFFREY NJ 120,800.00 9.750 5.500
800203101 YANCEY III LEWIS R VA 120,400.00 11.500 7.000
800203523 MONCUS VOILET EILEEN GA 44,200.00 12.000 7.500
800203713 BROWN JOHNNY MACK GA 68,000.00 10.500 5.250
800203770 WOODCOCK JOSEPH C GA 49,600.00 11.000 6.500
800205098 BAPTISTE WAYNE NY 135,000.00 9.375 5.750
800205122 WILKERSON RACHEL J PA 42,000.00 12.875 7.500
800205890 CAMPITELLI MICHAEL MD 326,000.00 10.750 5.250
800205940 GOODMAN SHEILA M NY 49,300.00 11.625 6.250
800206351 GREIF BRIAN S PA 137,000.00 9.875 6.750
800206518 SANCHEZ ISAAC NJ 195,000.00 11.375 6.750
800207649 EDOUARD JULIO MD NY 74,250.00 10.875 6.500
800207920 BAKER ROBERT H NY 200,000.00 11.375 6.750
800207979 VLACICH MICHAEL A NY 157,250.00 10.625 7.500
800208480 MAROULIS MICHAEL D PA 52,000.00 9.625 6.750
800208506 CALDWELL WILLIAM CT 99,200.00 12.875 8.250
</TABLE>
<PAGE>
ALLIANCE FUNDING COMPANY
A division of Superior Bank FSB
Loans Funded and Available for Sale to 1997-2 as of 6/22/97
<TABLE>
<CAPTION>
Current Note
Account Name St Principal NRate Margin
- --------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C>
800209173 LAVRIK VALERY NY 665,000.00 9.750 5.250
800210122 EDWARDS ELIZABETH NY 112,000.00 12.125 8.250
800210700 SCHAEDLER JR CHARLES C PA 144,000.00 10.500 5.750
800211070 TRACY TONY L SC 108,800.00 10.650 6.150
800213035 KIDWELL RONALD J OH 51,500.00 10.125 5.000
800213266 WYNN JAMES M NJ 61,625.00 10.000 5.500
800213647 HARKINS ROBBIN LYNN PA 60,000.00 10.375 5.750
800213902 INGRAM MATTIE L PA 36,000.00 10.375 6.750
800215048 SAYBEN JOHN M PA 165,600.00 9.875 6.000
800215329 HARVEY BLAIR R PA 212,800.00 11.500 7.500
800216160 FLAHERTY KEVIN NY 88,000.00 11.375 7.250
800216467 KATCHMER GERALD N PA 33,600.00 11.625 7.000
800216715 HEREDIA GUSTAVO CT 70,650.00 10.625 6.000
800217341 HABIB ANA L. FL 127,500.00 11.000 6.250
800217358 JOHNSON JR STEPHEN A PA 23,715.00 11.125 6.250
800217796 STAMATIS GEORGE MD 63,750.00 11.990 7.500
800218182 MUNIZ FAUSTINO NY 153,000.00 9.875 6.000
800218448 KORFF J SCOTT NY 117,000.00 10.750 6.750
800219081 MARRANCA SAMUEL J PA 64,700.00 13.125 7.250
800219396 KONSTANTINOVICH CHARLES NY 84,800.00 12.500 8.000
800219743 SCHWALB STEVEN NY 127,500.00 11.375 7.500
800220915 ADEL STEVEN D PA 240,000.00 12.125 8.500
800221780 GINSBERG BARRETT A NJ 272,000.00 11.625 6.000
800222150 ADVINCULA ANTONIO R SC 63,750.00 9.500 4.500
800222788 FISHER RODNEY C PA 51,300.00 9.875 6.000
800223372 GEORGE CURTIS M PA 157,125.00 10.875 7.000
800223810 LEWIS NICOLE NY 150,000.00 12.500 7.750
800224354 BRUCCULERI LUIGI PA 200,000.00 9.500 6.000
800224735 MCFARLANE NIKISA N NY 243,000.00 11.625 8.000
800224800 BAUER GEORGE CT 118,800.00 10.500 6.000
800224941 ROHLAND CHRISTOPHER PA 36,000.00 10.875 7.250
800225740 BOWLING JOHN CT 264,000.00 11.500 8.000
800226656 KINGSLAND JR EDWARD C PA 113,600.00 12.125 8.500
800226862 HART ESTER OLIVIA SC 149,600.00 13.500 8.500
800227035 CILANO SR. JOSEPH NJ 219,300.00 11.125 7.000
800227068 CARMICHAEL SHENAZ NY 148,750.00 12.000 7.500
800227142 DELORENZO PAUL W NJ 45,500.00 14.000 7.750
800227571 GUERRIRO NUNZIO NY 115,000.00 9.000 5.500
800227977 DIAZ JOSE NY 150,000.00 9.500 5.500
800228009 PULICE ROCCO NY 193,500.00 11.000 6.500
800228082 BAYCROFT JOHN MICHAEL CT 202,500.00 10.875 6.000
800228504 FIDDERMAN RANDOLPH DE 115,200.00 10.500 5.750
800229015 KOROLIK RAN NJ 151,940.00 9.625 6.000
800229379 POWELL SCOTT M PA 119,068.00 10.000 5.500
800229965 RAMIREZ EDWARD NJ 52,790.00 11.500 6.500
800230013 DAVIS JR RAYMOND C NJ 158,000.00 9.000 5.500
800230146 HINDS ROMINIE NY 78,000.00 11.500 6.500
800230385 NASSEEM MICHEL NY 162,000.00 10.625 5.750
800230401 FRANKLIN THOMAS L IN 125,900.00 11.000 6.750
800230427 COLLINS LAMONT D PA 143,225.00 10.875 7.250
800230716 PATEL BIPIN D NJ 89,200.00 9.750 6.250
800231144 BARDELL CONSTANCE LYNN FL 48,750.00 9.875 5.000
800231342 LEE KYAG YOUNG PA 229,500.00 9.625 6.000
800231565 AHMED MUMTAZ NY 261,000.00 10.625 5.750
800231904 FORBES ROBERT L PA 40,000.00 9.875 6.000
800231995 HOOPER DAVID A MA 128,000.00 10.750 5.750
800232290 PRESSIMONE ROY NY 140,250.00 10.375 6.500
800233108 KANNER BONNIE OH 156,000.00 9.500 5.000
800233652 MERCADO ELVIN PA 143,650.00 9.500 5.500
800233710 VANALPHEN ROBERT NY 80,000.00 10.250 6.750
800234031 FOWLER WENDY S PA 41,400.00 10.250 7.750
</TABLE>
<PAGE>
ALLIANCE FUNDING COMPANY
A division of Superior Bank FSB
Loans Funded and Available for Sale to 1997-2 as of 6/22/97
<TABLE>
<CAPTION>
Current Note
Account Name St Principal NRate Margin
- --------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C>
800234049 RUGER TERRY G PA 128,350.00 11.500 7.500
800234064 SIMON S REBECCA PA 76,000.00 13.500 8.500
800234072 ROBINSON THOMAS L PA 128,250.00 9.875 6.000
800234338 SINGLETON ELIJAH GA 66,300.00 9.625 5.000
800234536 LEE CHONG HEE MA 234,000.00 9.500 5.500
800235558 GILLILAND DONALD J PA 112,800.00 11.500 7.500
800235749 MENDOZA MANUEL NY 204,000.00 11.375 7.750
800235863 VICKERS BARBARA NJ 119,000.00 10.750 5.500
800236002 STATEN CAROLYN S GA 182,250.00 10.625 7.000
800236622 RANDOLPH CHARLES D CT 508,800.00 9.875 6.000
800236648 SINDELL ROBERT NY 65,000.00 9.750 5.250
800236887 BLANEY JR EUGENE PA 121,500.00 10.000 7.750
800237208 HANNA STEPHEN K SC 91,800.00 11.575 6.700
800237216 POULOS GUS NC 324,800.00 11.000 7.000
800238552 PADEN RONALD C PA 142,200.00 11.250 6.750
800238560 MERCADO ILIANA NY 229,500.00 11.250 6.750
800238594 HESLEY DIANE M PA 40,845.00 10.625 7.250
800238602 DESOTELLE JOHN D PA 56,000.00 8.875 3.750
800238719 LODIN BIBI A NY 76,800.00 10.250 6.250
800239139 SOTAK MARY PA 133,900.00 10.875 6.250
800239220 MERRIGAN RICHARD J PA 68,000.00 10.000 5.500
800239345 BOULUARE CHARISE DEVRAE GA 82,800.00 10.500 5.750
800239485 PETITTO CHARLES NJ 149,400.00 10.250 6.750
800239980 SCHWANGER CINDY M PA 68,600.00 10.000 6.000
800240814 NEBINGER HOWARD A PA 87,000.00 9.625 5.000
800241184 ROBINSON VALLISHA NJ 97,500.00 10.875 6.250
800241622 DIBENEDETTO ANNA MARIA MA 183,750.00 9.750 5.000
800241994 PHILLIPS EDWARD PA 55,250.00 9.875 7.500
800242273 MITCHOM GWENDOLYN PA 51,820.00 9.750 6.500
800242448 DEONAUTH SRIMATIE NY 110,250.00 10.750 5.750
800242851 OBEIRNE JOHN T NJ 130,000.00 9.750 5.500
800242901 ANNAZONE PETER J. FL 76,500.00 8.625 4.000
800243016 LOWERY MARILYN PA 36,000.00 11.250 6.750
800243123 GOLD LISA M NJ 161,000.00 11.125 7.500
800243891 KOMAR HENRY E PA 48,000.00 11.125 6.250
800244246 BOSTWICK HERBERT L PA 94,500.00 10.375 6.750
800244386 EWASKIO LINDA CT 90,000.00 9.875 6.250
800244485 WOODBURY WYETT NY 121,500.00 10.875 6.000
800244865 WALKER JOHN B PA 144,000.00 12.250 7.250
800245243 FULLER KEITH R PA 105,000.00 9.250 5.250
800245250 LIMITONE ANNUCCIA NY 108,375.00 10.125 6.500
800245409 FICCA JOSEPH V CT 204,000.00 11.125 7.500
800245482 ROBINSON LESTER R PA 136,850.00 11.500 7.250
800245847 CERRATO SALVATORE CT 132,800.00 11.500 8.000
800246068 KOMAR HENRY E PA 27,000.00 11.125 6.250
800246142 BURK WHITNEY NJ 359,200.00 9.875 6.250
800246423 REGA BERNARDINO PA 81,000.00 10.250 6.750
800246431 DAVIS NORMAN NY 157,250.00 12.000 7.500
800246464 TAURASO JR VINCENT S NY 84,000.00 10.500 5.875
800247165 CASTELLANOS JUAN 0 NY 133,500.00 11.250 7.500
800247710 TSOULOGIANNIS JOSEPH NY 200,000.00 12.125 8.500
800247892 WESSON TIMOTHY W GA 117,000.00 10.425 6.800
800248296 SCHEVELOFF SABRINA NY 665,000.00 11.375 6.750
800249054 CIRINCINO ANDREW NY 80,000.00 10.750 6.500
800249120 SPANGLER KATHERNINE K PA 32,800.00 10.000 5.500
800249799 NADEAU GREGG CT 63,900.00 11.375 6.400
800249864 COLURRA LEONARD NY 174,400.00 9.875 6.250
800250474 BOBB WILLARD JOSEPH DE 157,500.00 10.500 5.750
800250557 WALIZER PATRICIA PA 44,800.00 12.875 7.500
800251480 MEEKINS RACHEL NJ 24,000.00 12.750 7.000
800251548 BIGAM SANDRA NY 163,000.00 10.500 6250
</TABLE>
<PAGE>
ALLIANCE FUNDING COMPANY
A division of Superior Bank FSB
Loans Funded and Available for Sale to 1997-2 as of 6/22/97
<TABLE>
<CAPTION>
Current Note
Account Name St Principal NRate Margin
- --------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C>
800251902 ESPINAL CECILIA NY 225,250.00 13.500 8.500
800252116 GALIA PETER PA 54,000.00 11.000 6.750
800252165 EPLER FRANK R NC 83,725.00 11.125 6.250
800252835 LAWSON JANIE NY 139,500.00 10.750 6.750
800253387 MICHALEK ROBERT J PA 85,030.00 10.875 7.250
800253460 FLAMMIA JOSEPH PA 113,400.00 10.250 6.750
800253627 FORD ROBERT C PA 200,000.00 12.500 8.500
800253635 PARSLOE ROBERT J NJ 231,200.00 10.500 7.000
800254021 KOHL ALEXANDER J PA 103,180.00 11.250 7.500
800254088 KATTOUF GEORGE PA 89,080.00 12.250 8.500
800254179 SALLADA GARY W PA 33,960.00 10.875 7.250
800254724 ROJAS VICTOR PA 151,650.00 9.875 6.000
800254757 GUIDITTA SR BRIAN J CT 102,000.00 12.250 7.650
800255101 SHERMAN RUTH E PA 128,000.00 11.625 8.250
800256653 MCKEYTHON MARY E NY 242,250.00 10.750 6.500
800257230 BARBOUNIS LEONIDAS G PA 116,100.00 10.500 5.750
800257370 GAYDIS BOB J PA 47,700.00 9.875 6.000
800257867 GABRIEL RODNEY A NJ 109,225.00 12.000 7.500
800257974 WILLIAMS DAVID E PA 162,000.00 10.000 6.750
800258576 GRAY DEAN J PA 76,500.00 9.875 4.750
800258766 MAY JR ROBERT L DE 100,800.00 12.875 7.500
- --------------------------------------------------------------------------------------
ARM Loans Set to Close 27,511,618.00 10.863 6.604
Total ARM Loans Not Yet Funded 31,205,378.00 10.802 6.523
</TABLE>
<PAGE>
ALLIANCE FUNDING COMPANY
A division of Superior Bank FSB
Loans Funded and Available for Sale to 1997-2 as of 6/22/97
<TABLE>
<CAPTION>
Current Note
Account Name St Principal NRate Margin
- --------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C>
CLOSED NOT FUNDED
- -----------------
106146168 KALAVITY KAREN F CO 80,750.00 11.950 0.000
106146954 BLACKBURN KELLY ROSS AZ 17,400.00 12.800 0.000
106147540 BOVEE LINDA M CO 27,888.00 13.000 0.000
106148064 MCGILLIVRAY SEAN M CA 48,000.00 14.300 0.000
106148492 BARRETT JOANNE IN 46,100.00 10.525 0.000
106148564 KLIPFEL FRANK E CO 35,000.00 12.750 0.000
106148907 KEMP JACK M. KY 58,800.00 9.150 0.000
106148941 WOOLLEY DONALD R AZ 16,000.00 12.900 0.000
106149084 DANA JENNIFER A AZ 47,950.00 13.700 0.000
106149098 MAY GENE A. OH 40,000.00 12.275 0.000
106149185 ALBAUGH LELAND WARD OR 45,700.00 13.200 0.000
106149204 SINGH ASHUKOMAR NY 17,200.00 10.800 0.000
106149313 YOUNG CHRIS D. OH 86,200.00 9.625 0.000
106149612 HALBEDEL ROBIN R. OH 32,200.00 12.525 0.000
106149615 EDWARDS LARRY D. OH 46,000.00 12.530 0.000
106149727 CHALONER MAVIS L. MN 74,000.00 13.500 0.000
106149738 IRWIN SYLVIA C. IL 74,200.00 13.000 0.000
106149867 DAVIS DOROTHY B CO 19,550.00 12.400 0.000
106149959 FEIGT JR ARTHUR L CO 47,655.00 12.650 0.000
106150097 KULP JEFFREY T CO 50,000.00 11.300 0.000
106150121 KHAMO NAZAR IL 40,700.00 12.300 0.000
106150124 HEIR SANDRAH S. MN 83,400.00 9.040 0.000
106150227 SALVATORE NICHOLAS OH 58,000.00 10.525 0.000
106150389 POWELL KENNETH IL 44,200.00 12.000 0.000
106150956 GALES MARGOTJ AZ 53,402.00 11.000 0.000
106151047 DALTON PAUL F CO 39,000.00 11.050 0.000
106151193 JOHNSON GREGGE K. MN 51,000.00 10.050 0.000
106151219 ROWAN RUBY OH 28,000.00 10.050 0.000
106151287 BRANDT III EDWARD N CO 61,000.00 12.850 0.000
106151369 RYAN TROY LEE UT 33,259.00 13.250 0.000
800192783 MACLEOD DONALD R MA 77,000.00 11.500 0.000
800211781 MANN RODNEY GA 63,750.00 12.650 0.000
800212094 ROSE ADRIAN C PA 38,700.00 11.400 0.000
800212649 CARLSON ARTHUR WILLIAM NJ 42,500.00 10.550 0.000
800214900 BERGER NORMAN R PA 43,000.00 12.150 0.000
800216970 YOUNG GLENN P PA 22,743.00 12.750 0.000
800217713 WHITE MICHAEL E. FL 59,500.00 11.750 0.000
800217952 TICE JOHN R PA 15,000.00 12.400 0.000
800218273 LEZAMA ANSLEM NY 191,250.00 11.900 0.000
800218752 FELDMAYER GREGORY PA 10,000.00 14.000 0.000
800220550 GIATTINO ROSARIO NY 21,200.00 11.550 0.000
800221426 HALL FRANCES FL 52,500.00 10.750 0.000
800224768 JOYNER GENEVA MD 154,700.00 10.500 0.000
800226540 BRANT JAMES L FL 43,000.00 12.750 0.000
800227779 HEAFNER RICHARD E WA 29,500.00 9.900 0.000
800229809 DUKES DANIEL DON FL 10,000.00 12.750 0.000
800231367 CURRIER TIM OR 17,500.00 10.150 0.000
800231623 UCHIMIYA JOHN WA 28,600.00 9.900 0.000
800232340 HAUGHT JOSEPH L PA 47,000.00 10.300 0.000
800232423 VERHAM RON CA 98,000.00 10.150 0.000
800232555 CHRISTIE PHILIP J FL 27,050.00 13.250 0.000
800234619 STURM JAY E. MA 49,800.00 11.150 0.000
800235145 PUCCI CARL MA 25,000.00 10.150 0.000
800235293 WHITLOCK PERCY C OH 79,050.00 10.050 0.000
800235350 GEORGE GEORGE PA 73,000.00 11.300 0.000
800236770 WHITLOCK JR PERCY OH 37,100.00 9.800 0.000
800236796 WHITLOCK JR PERCY C OH 28,000.00 9.800 0.000
800237778 KUBIK STEPHEN M FL 51,300.00 10.600 0.000
800238925 SEIDEL KONRAD FL 40,400.00 11.250 0.000
800239683 SULLIVAN URSULA BENKERT FL 50,700.00 10.500 0.000
</TABLE>
<PAGE>
ALLIANCE FUNDING COMPANY
A division of Superior Bank FSB
Loans Funded and Available for Sale to 1997-2 as of 6/22/97
<TABLE>
<CAPTION>
Current Note
Account Name St Principal NRate Margin
- --------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C>
800243651 DAVIS LINDA M FL 159,750.00 10.750 0.000
800243685 HOPPER PAULA J FL 29,500.00 11.800 0.000
800244352 TRUESCHEL MARY E FL 10,000.00 10.950 0.000
800247520 STALLONE JOHN WA 54,000.00 10.650 0.000
800253999 LYNCH ANDREA M. MD 16,900.00 12.400 0.000
800255739 EYE DAVID STEPHEN FL 34,000.00 10.500 0.000
800256141 POLIDORE BERNARD W FL 22,500.00 12.650 0.000
- --------------------------------------------------------------------------------------
Fixed Rate Loans Closed and not Funded 3,256,047.00 11.381 0.000
SET TO CLOSE
- ------------
106144572 FARMER HILLARY NY 150,000.00 12.300 0.000
106144987 BARNETT MICHAEL R AZ 55,300.00 12.950 0.000
106145072 WILLIAMSON STEVE G ID 21,717.00 12.950 0.000
106146450 NEUENSWANDER JOHN B UT 43,052.00 13.100 0.000
106146474 GANT EDWARD NV 59,300.00 13.700 0.000
106146658 BARTEL KATHRYN S UT 102,500.00 13.000 0.000
106147101 LOWEN IRVING B. MD 53,900.00 8.850 0.000
106147227 BROWN BARBARA L CO 19,000.00 12.200 0.000
106147479 CUPID WILTON NY 120,000.00 13.100 0.000
106147499 FERRY CHARLES D. FL 43,500.00 10.275 0.000
106147550 PERSAUD GANGA NJ 114,400.00 11.100 0.000
106147591 JUGO MARIA IL 24,800.00 11.750 0.000
106147797 MILLER MARK W CO 14,217.00 11.800 0.000
106147855 ROSS MARY E UT 41,867.00 15.850 0.000
106147873 NIEZGODA WALTER W. IL 25,000.00 11.350 0.000
106147914 ROBINSON TERRY F ID 58,400.00 10.400 0.000
106147998 ORR JAMES S CO 20,469.00 15.350 0.000
106148278 HARRIS GREGORY AZ 21,850.00 12.400 0.000
106148388 LORENZ MICHAEL JOSEPH NV 30,700.00 13.500 0.000
106148398 MYATT DOROTHY IN 31,000.00 9.360 0.000
106148401 GILLIAM ELLIS A. KY 16,000.00 12.975 0.000
106148430 ENDERLE JANICE M WA 42,000.00 14.625 0.000
106148494 DALY JAMES E. KY 86,500.00 9.400 0.000
106148544 ALDERMAN ROBERT J MN 32,959.00 12.750 0.000
106148607 DONALDSON KEVIN WAYDE CO 26,250.00 13.600 0.000
106148618 HOFFMAN TAMARA K ID 20,000.00 12.550 0.000
106148727 ODLE STACEY C UT 195,300.00 12.000 0.000
106148769 PERSAUD KAMLAPATTIE CT 567,000.00 11.600 0.000
106148790 DAVENPORT EDWIN A AZ 31,600.00 11.950 0.000
106148791 WEST LARRY A CO 15,000.00 13.000 0.000
106148806 MILLER JEREMY IL 20,900.00 10.600 0.000
106148838 BIHL CLIFFORD R OR 22,000.00 11.550 0.000
106148856 KHALIL JAMAL O CA 44,074.00 11.250 0.000
106148895 WOODS JOSEPH P. KY 38,400.00 13.525 0.000
106149148 WILLIAMS DANIEL D WA 22,658.00 15.600 0.000
106149176 TRABER THERESE A CO 38,944.00 12.750 0.000
106149197 KOLISEK MIROSLAV J AZ 16,362.00 11.500 0.000
106149218 ALLEN JEFFREY M. IL 14,200.00 12.300 0.000
106149240 BREUNICH SCOTT R CO 43,500.00 11.000 0.000
106149250 WINDEB HOLDING CORP NY 150,000.00 11.350 0.000
106149254 HILLER SCOTT CA 45,000.00 13.450 0.000
106149259 WHITE HARRISON GARY CO 27,186.00 15.600 0.000
106149264 LAGERSTEDT DOROTHY L WA 16,200.00 12.450 0.000
106149290 LINDMAN JANE MN 18,000.00 11.750 0.000
106149312 HENRICH MARK MN 70,000.00 12.125 0.000
106149375 KING KATHLYN AZ 14,700.00 13.000 0.000
106149395 SETTERS SHIRLEY KY 82,600.00 9.130 0.000
106149442 GROGAN JANICE J AZ 29,750.00 12.250 0.000
106149445 KYLE LESLEE V WA 114,300.00 11.300 0.000
106149446 CLARK WARREN J CO 48,548.00 12.000 0.000
106149475 TEMPLE OF BLESSINGS COGIC INC NY 420,000.00 12.800 0.000
</TABLE>
<PAGE>
ALLIANCE FUNDING COMPANY
A division of Superior Bank FSB
Loans Funded and Available for Sale to 1997-2 as of 6122/97
<TABLE>
<CAPTION>
Current Note
Account Name St Principal NRate Margin
- --------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C>
106149477 CERCONE DONNA M CO 20,000.00 11.000 0.000
106149481 WRIGHT JODY S UT 15,000.00 12.500 0.000
106149496 VELSOR, JR. CURTIS F. NY 34,000.00 12.990 0.000
106149502 DYSERT RONALD W. OH 17,300.00 13.525 0.000
106149507 HILL JAMES T. IN 32,400.00 11.525 0.000
106149530 CARRILLO RICHARD E OR 28,900.00 11.900 0.000
106149541 CARTER EDWARD M WA 50,000.00 11.000 0.000
106149611 WELCH ROBERT C. OH 16,200.00 12.025 0.000
106149614 HALL CONRAD C. KY 49,800.00 10.925 0.000
106149656 SMITH PHILLIP L WA 32,000.00 12.600 0.000
106149670 STONE FRANK D CA 27,000.00 12.950 0.000
106149708 ORTEGA ANGELA AZ 23,200.00 11.550 0.000
106149709 RUIZ MARY H CO 38,000.00 11.550 0.000
106149813 EODICE JR EDWARD W. NJ 100,800.00 10.625 0.000
106149857 WEST KIMBERLY L. MI 29,200.00 12.950 0.000
106149880 ARMSTRONG BRIAN K MN 17,273.00 11.800 0.000
106149923 KHOURY LOLA M. OH 38,300.00 13.990 0.000
106149975 STRAUB MICHAEL ALAN CO 19,918.00 12.050 0.000
106150010 MCDONALD ARETHA Y NY 29,200.00 14.125 0.000
106150014 ANDERSON KIM L. IL 108,000.00 10.300 0.000
106150016 TAYLOR BARBARA IL 19,500.00 9.650 0.000
106150019 GRAY MARY J. KY 55,200.00 13.025 0.000
106150051 MEINKE RANDALL L. WI 46,100.00 11.050 0.000
106150076 YOO CHANG YOUNG UT 52,000.00 12.250 0.000
106150079 CARNS GLEN AZ 17,500.00 12.650 0.000
106150087 ADAMS PERKINS CAROLYN KAY WA 67,000.00 11.550 0.000
106150103 PAGE B SAM UT 132,800.00 10.300 0.000
106150127 GARCIA VICTOR OH 45,000.00 12.525 0.000
106150143 PRIMM JUADENA ONYEMA OH 35,700.00 12.000 0.000
106150150 ELABED HARBI MI 108,000.00 11.500 0.000
106150169 O'HAYRE PAUL B CO 18,417.00 13.350 0.000
106150189 WIXOM BRAD D UT 99,740.00 10.900 0.000
106150223 SYKES MAXINE C. KY 32,200.00 12.125 0.000
106150228 SALVATORE NICHOLAS OH 32,900.00 10.875 0.000
106150235 MADDEN KAREN R. OH 64,000.00 9.110 0.000
106150238 DAVIDOVITZ HOWARD IL 62,500.00 13.350 0.000
106150291 ROMERO CARY J CO 23,000.00 14.250 0.000
106150317 PEARSON FRED OR 25,000.00 11.800 0.000
106150343 WALKER JAMES A MN 75,000.00 14.250 0.000
106150348 CLARKE RAQUEL NY 119,000.00 11.990 0.000
106150352 DARLING DARRELL LAMONT UT 28,248.00 10.600 0.000
106150455 LANGE-MCCAULEY SUSAN C CO 35,000.00 10.300 0.000
106150476 VOLKMAN JULIA IN 16,600.00 14.250 0.000
106150504 KUTCH ROBERT J. NY 49,600.00 11.990 0.000
106150590 MILES CRAIG J UT 111,800.00 10.900 0.000
106150706 BERUMAN MARK A AZ 12,700.00 14.250 0.000
106150774 ZAHNER PHYLLIS B CA 39,000.00 12.450 0.000
106150793 ALEXANDER MARK UT 29,500.00 12.250 0.000
106151068 BARTON RONALD N CO 42,021.00 11.300 0.000
106151148 KROB JAMES A AZ 25,000.00 12.750 0.000
106151292 SANCHOTENA ALBERT ID 22,900.00 12.100 0.000
106151366 SAENZ FRANK E CO 26,000.00 12.250 0.000
106151372 BAILEY LEE L UT 26,300.00 13.000 0.000
106151382 HOPKINS DAVID C WA 44,000.00 10.750 0.000
106151606 GRANADOS RONALD IN 14,500.00 12.050 0.000
800149577 RIVERA JOSE H FL 40,500.00 10.150 0.000
800150963 WHITE KELLY C NY 164,700.00 12.500 0.000
800151284 GHALY FAYEZA CT 14,500.00 11.800 0.000
800154478 GRAVES ROBERT PA 30,100.00 11.950 0.000
800159055 BAJROVIC ALIM NY 77,900.00 10.900 0.000
800160020 KIRK TINA L NJ 30,000.00 12.210 0.000
</TABLE>
<PAGE>
ALLIANCE FUNDING COMPANY
A division of Superior Bank FSB
Loans Funded and Available for Sale to 1997-2 as of 6/22/97
<TABLE>
<CAPTION>
Current Note
Account Name St Principal NRate Margin
- --------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C>
800174971 CZIPULIS ROBERT GA 106,400.00 10.990 0.000
800175325 CASTRO JOSE FL 50,700.00 11.500 0.000
800175614 TASSI LINDA KESNER- FL 68,400.00 11.550 0.000
800176158 BEJARANO MARY L NY 163,200.00 13.450 0.000
800176638 DESTIN MAURICE MA 113,050.00 13.300 0.000
800178428 WISDOM LIDDON NY 26,000.00 13.650 0.000
800178568 PLUMMER RICHARD B MD 45,000.00 14.800 0.000
800180002 DISHAW RAYMOND J FL 40,500.00 13.300 0.000
800180465 GUERRIERO ALYCE L NJ 175,000.00 11.300 0.000
800180499 GALLELLI ALDO NJ 97,000.00 11.350 0.000
800180507 PADULA CRISTOFORO PA 44,400.00 11.750 0.000
800182909 SHEFSKY LYNN PA 47,600.00 12.650 0.000
800185050 SMALLS MARY L FL 44,000.00 13.750 0.000
800187056 BILLINGSLEY DEAN B NY 55,000.00 11.100 0.000
800187411 HARRIS MARY FL 81,000.00 12.650 0.000
800187668 LISS SHARON L FL 55,000.00 12.500 0.000
800188104 BURSON CLAUDE B NY 40,000.00 12.250 0.000
800189318 GEIGER JOHN FL 55,000.00 12.650 0.000
800189888 BERMAN NICKY FL 97,500.00 12.650 0.000
800189953 LEOPOLD JEFF FL 23,000.00 12.650 0.000
800190688 SALIK LAKGRAM NY 16,315.00 14.550 0.000
800191272 ROBIDOUX GEORGE A FL 31,900.00 12.650 0.000
800191405 AVILA ARMANDO NY 184,000.00 12.190 0.000
800191553 GENNITTI JOSEPH A FL 37,954.00 12.250 0.000
800192460 CLARK VALERIE MD 27,000.00 13.250 0.000
800194029 RIDGEL VICTOR W FL 60,000.00 13.100 0.000
800195042 STRITTMATTER KURT J NJ 20,336.00 13.400 0.000
800195299 DEL GIORNO RAY FL 94,500.00 11.550 0.000
800196248 STAFFORD TERRY GA 24,660.00 14.050 0.000
800196834 HALL ALEXANDER DENISE M PA 22,320.00 12.700 0.000
800196891 SMITH III JAMES A VA 20,000.00 11.990 0.000
800197246 KISH RICHARD A PA 28,275.00 13.300 0.000
800197634 KERNS PATRICK L FL 40,000.00 14.000 0.000
800197725 RAMKISSOON KENNETH E NY 17,200.00 13.550 0.000
800198822 SUAREZ MARCOS MA 52,400.00 11.300 0.000
800199192 CHANDLER ARNOLD DE 25,500.00 12.750 0.000
800200578 HARRISON KENNETH R PA 82,601.00 12.050 0.000
800200644 CRUZ NALMO FL 59,500.00 10.800 0.000
800200693 MONTUNET THELEMAQUE FL 19,000.00 14.250 0.000
800201089 DELIA DIANE NY 50,000.00 12.500 0.000
800201840 FRYE RETA NC 34,000.00 11.700 0.000
800202376 MACHOL KATHRYN K FL 51,000.00 12.150 0.000
800202657 CLEMMINGS EVERTON NY 119,000.00 12.950 0.000
800203697 SIZEMORE CYNTHIA K FL 93,600.00 11.550 0.000
800204364 KEANE CHRISTOPHER J MA 34,500.00 12.750 0.000
800205494 SAUVE MICHAEL D NY 40,000.00 10.400 0.000
800206229 WHITTAKER DORIS L NJ 100,000.00 12.450 0.000
800206237 STOSSEL WILLLIAM J FL 36,750.00 11.550 0.000
800206450 FRANTZ PHILLIP A PA 21,149.00 11.800 0.000
800206484 FLOURNOY DARYL D FL 50,000.00 11.250 0.000
800206815 BARTELS DONALD E FL 45,900.00 11.550 0.000
800206906 DIAMON JR WILLIAM J FL 72,000.00 9.875 0.000
800207680 SCHMITT ROBERT NY 209,420.50 10.850 0.000
800207714 SINGH SOORAT NY 20,170.00 12.300 0.000
800208670 RENO DONALD B UT 39,300.00 10.800 0.000
800209207 HARRINGTON ELAINE NY 24,000.00 14.950 0.000
800209264 THOMAS VIRGINIA FL 35,750.00 14.050 0.000
800209785 PAUL SR CLYDE W PA 65,200.00 11.050 0.000
800210486 YARKO GARY M PA 91,800.00 12.700 0.000
800210601 SEARLES JOHN S FL 30,800.00 9.990 0.000
800210742 SHIN TAE NY 100,000.00 13.750 0.000
</TABLE>
<PAGE>
ALLIANCE FUNDING COMPANY
A division of Superior Bank FSB
Loans Funded and Available for Sale to 1997-2 as of 6/22/97
<TABLE>
<CAPTION>
Current Note
Account Name St Principal NRate Margin
- --------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C>
800210775 CHRISTIE EMMA PA 10,815.00 14.800 0.000
800211492 TOLEDO EDGAR NY 151,300.00 13.200 0.000
800212581 MERCHAN GERARDO NY 90,100.00 12.250 0.000
800212599 ADAWI MUSTAFA NJ 71,200.00 13.500 0.000
800213480 BUSSIERE WILLIAM NJ 34,850.00 13.990 0.000
800213746 MALIA FRANK C PA 55,000.00 10.900 0.000
800213886 BAUMGAROT KENNETH PA 19,840.00 12.500 0.000
800214405 CLEVELAND ROBERT GA 91,800.00 13.740 0.000
800214801 BERNARD JR ARTHUR J FL 20,250.00 12.850 0.000
800215014 MCKENNA JAMES MA 24,200.00 13.000 0.000
800215634 MOTLEY ERVIN NY 95,400.00 11.300 0.000
800215675 MULLINS RENELDA PA 26,600.00 12.250 0.000
800215709 FUNG-A-LING LESLIE NY 25,000.00 11.800 0.000
800216343 STRIANO RICHARD NY 20,800.00 14.500 0.000
800216376 PATTERSON MARJORIE R FL 45,900.00 12.300 0.000
800217176 LOMBARD DANIEL C FL 34,850.00 12.650 0.000
800217416 MARTIN JR CHARLES R FL 26,000.00 14.250 0.000
800217630 ALLEN BRAD PA 74,583.00 13.500 0.000
800217655 STAFFORD CHARLES GA 237,000.00 10.550 0.000
800218067 BUTLER FLOYD A PA 18,500.00 12.650 0.000
800218828 SALCEDO REMEDIOS NC 60,000.00 9.650 0.000
800218976 MERRITT LAVERNE C FL 59,500.00 12.650 0.000
800219107 WEEMS PEARLIE M FL 33,600.00 9.650 0.000
800219313 VAZQUEZ LETICIA NY 210,000.00 9.650 0.000
800219487 LEE DAVID U MD 60,000.00 10.500 0.000
800219792 GOODWIN RICHARD CT 43,931.00 12.990 0.000
800220394 WEAVER DAVID L. PA 63,000.00 10.650 0.000
800221384 BAKER STEPHEN J FL 69,000.00 11.900 0.000
800222010 PRESTIFILIPPO JOSEPH P NJ 13,000.00 11.500 0.000
800222051 COLEMAN BERNICE W MD 37,360.00 10.850 0.000
800222325 RAISIAN RUBY L OH 51,850.00 12.250 0.000
800222499 DEHNER JOYCE L KY 41,600.00 13.750 0.000
500222846 HYATT LANCE H MD 38,000.00 12.500 0.000
800223182 DEIHL BRIAN K PA 27,100.00 11.650 0.000
800223778 BOMBARA ROBIN NY 25,000.00 12.100 0.000
800223869 KRYZAK KEVIN NY 19,000.00 11.990 0.000
800224040 SLIVKA JR STEPHEN PA 91,800.00 10.650 0.000
800224156 BRISTOW TERRY V OR 44,879.00 13.500 0.000
800224743 CUFFARO PETER P NY 86,200.00 12.500 0.000
800225021 TRIPP HARRY R FL 13,000.00 12.150 0.000
800225385 TUCKER JR TOMMY N FL 42,300.00 11.600 0.000
800225393 THOMAS FREDERICK E NY 99,000.00 12.500 0.000
800225484 ROBERTS LEE SC 34,700.00 16.500 0.000
800226185 BAYYAT MARSHA K. NC 108,897.00 10.750 0.000
800226532 NELSON KEVIN EUGENE NC 123,500.00 10.050 0.000
800226698 BALTES ROBERT G OR 13,800.00 9.400 0.000
800226904 CREMARD THERESA L PA 90,000.00 13.500 0.000
800227423 ROSENHEIM STEVEN L. MD 41,700.00 12.050 0.000
800227464 ALFORD DAVID L NJ 79,920.00 14.700 0.000
800227472 SETTLE ROBERT F OR 17,850.00 13.750 0.000
800227621 POWELL APRIL R SC 32,000.00 14.000 0.000
800228447 LEE WON K VA 36,000.00 11.500 0.000
800228611 FULLER DAVID MD 29,585.00 12.350 0.000
800228686 TAYLOR PAUL RANDALL GA 123,250.00 13.500 0.000
800230161 DAILEY ROBERT PA 24,196.00 11.400 0.000
800230237 HENNESSEY DEREK NY 60,000.00 12.500 0.000
800230278 AMORUSO JR FRANK J NY 25,000.00 11.250 0.000
800231532 SHAMAILOV MICHAEL NY 50,000.00 12.450 0.000
800231722 FRENCH WAYNE D FL 26,250.00 11.800 0.000
800231730 SCORDIANOS GEORGE NY 45,000.00 10.990 0.000
800231813 ALLEYNE CUTHBERT A NY 314,500.00 10.500 0.000
</TABLE>
<PAGE>
ALLIANCE FUNDING COMPANY
A division of Superior Bank FSB
Loans Funded and Available for Sale to 1997-2 as of 6122197
<TABLE>
<CAPTION>
Current Note
Account Name St Principal NRate Margin
- --------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C>
800231862 ROMMEL SR STEVE K OR 17,366.00 11.400 0.000
800232373 GONZALEZ FAYE M PA 27,000.00 11.250 0.000
800232456 DAVIS JAMES SCOTT PA 38,000.00 11.500 0.000
800232977 PARKS JR JESSE F GA 97,600.00 11.550 0.000
800232985 CARLIN PATRICIA M NJ 75,000.00 12.700 0.000
800233009 BLAZIER GUY E FL 66,500.00 10.600 0.000
800233215 ELLIOT JACK FL 60,000.00 11.000 0.000
800233819 RAGHOONAN KRISHNA CT 26,030.00 12.650 0.000
800233934 HORNE DERICK S PA 81,000.00 10.850 0.000
800234403 YATES LEANN FL 12,175.00 12.750 0.000
800234718 HARMON RANDALL A OR 40,800.00 10.150 0.000
800234833 HOEHL RONALD C NJ 74,000.00 10.400 0.000
800234940 ANGUS DAVID G NY 200,000.00 11.700 0.000
800236010 WRIGHT JOHN MACK FL 22,500.00 14.200 0.000
800236549 BYRNES CLIFFORD NEIL SC 128,000.00 10.500 0.000
800236739 OH SUNG CHAN NY 60,000.00 15.550 0.000
800237646 KENNEDY LORENZO SC 35,100.00 11.990 0.000
800237745 THOMPSON ROY C FL 64,500.00 10.050 0.000
800238214 KETNER BILLY IRA NC 75,440.00 9.750 0.000
800238230 WILBER RICHARD F CT 78,000.00 11.000 0.000
800238495 JONES MARY NJ 29,000.00 12.500 0.000
800238966 MENGHI PATRICIA S NC 65,150.00 9.400 0.000
800239469 DANIELS GLORIA D CA 57,200.00 11.500 0.000
800240061 BURKE SEAN P NJ 30,000.00 10.550 0.000
800240103 PEREZ RANDALL G GA 28,000.00 10.750 0.000
800240236 MELIUS CHARLES D CT 50,000.00 12.000 0.000
800240301 SIMENSON GARY N NY 40,000.00 11.900 0.000
800240715 ROMANO CHARLES A PA 17,181.00 12.250 0.000
800240954 WOMICK KENNETH J B PA 42,500.00 12.050 0.000
800241507 BESS CHERRYE Y FL 35,000.00 10.600 0.000
800241820 BOSWELL ERIC RI 91,500.00 10.650 0.000
800242521 DANIEL FREDERICK NY 42,000.00 10.550 0.000
800242794 UBABUKOH KINGSLEY OBI NC 72,600.00 12.750 0.000
800243032 MATTHEWS SCOTT H GA 49,000.00 10.300 0.000
800243065 SZCZYPINSKI STANISLAW FL 33,000.00 11.000 0.000
800243131 COHEN EILEEN NY 200,000.00 12.050 0.000
800243396 SMITH DARRYL K. MD 31,000.00 12.500 0.000
800243909 CHATT MARGO SERITA MD 46,700.00 13.000 0.000
800244071 LAZAR GREG NJ 41,900.00 12.250 0.000
800244196 JANNICELLI NICHOLAS J NJ 55,250.00 11.950 0.000
800244402 SCHASSLER DAVID J NY 150,000.00 11.250 0.000
800244444 HOMEN WALTER J OR 74,700.00 12.150 0.000
800244501 BROTHERTON BENJAMIN SC 47,200.00 13.250 0.000
800244568 BELANGER EDWARD CT 63,600.00 12.600 0.000
800244790 RIOS JAN NY 50,000.00 9.550 0.000
800244980 SMITH ANN MARIE FL 44,800.00 11.600 0.000
800245011 PFISTER JOHN J SC 115,600.00 13.250 0.000
800245888 NIEVES FRANCISCO FL 20,000.00 12.500 0.000
800245995 SPERO RICHARD NY 270,300.00 12.800 0.000
800246332 TRENT SANDRA NY 48,000.00 9.650 0.000
800246407 GAFFAN ALAN CT 80,000.00 14.450 0.000
800246449 FURBOTER DANIEL J NY 33,400.00 12.050 0.000
800246662 GILBERT JAYME PA 19,695.00 11.100 0.000
800247751 REYES EDDIE NY 50,400.00 11.800 0.000
800248668 GREY SR. WALTER J. FL 48,000.00 13.250 0.000
800249278 ARNOLD BRADLEY L PA 31,000.00 8.850 0.000
800249724 POWELL DELORICE VA 117,000.00 10.500 0.000
800250797 DESALVO JOSEPH J NY 42,500.00 12.750 0.000
800251837 CARBAJAL VICTOR H VA 123,690.00 12.500 0.000
800252207 SCHOCH III ROBERT C OH 58,000.00 11.250 0.000
800252843 ALICCHIO GLEN NJ 110,500.00 12.300 0.000
</TABLE>
<PAGE>
ALLIANCE FUNDING COMPANY
A division of Superior Bank FSB
Loans Funded and Available for Sale to 1997-2 as of 6/22/97
<TABLE>
<CAPTION>
Current Note
Account Name St Principal NRate Margin
- --------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C>
800253361 TILLMAN LORINE NY 165,750.00 12.950 0.000
800255291 MEYERSON JAY NY 160,000.00 9.900 0.000
800255374 WILLOUGHBY JANICE C MD 14,745.00 12.400 0.000
800255663 KACSUR MICHAEL PA 65,450.00 12.950 0.000
800258170 DEANGELO LINDA FL 10,000.00 11.150 0.000
- --------------------------------------------------------------------------------------
Fixed Rate Loans Set to Close 17,803,948.50 11.911 0.000
Total Fixed Rate Loans Not Yet Funded 21,059,995.50 11.829 0.000
Total Loans Not Yet Funded 52,265,373.50 11.216
</TABLE>
<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 1997-2, as purchaser (the "Trustee"), and pursuant to the
Pooling and Servicing Agreement, dated as of June 1, 1997, 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 Certificate Insurer or 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 1997-2
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 1997-2
ATTACHMENT A TO SUBSEQUENT TRANSFER INSTRUMENT FOR SUB-POOL 1
Series 1997-2
________, 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 Mortgage 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. [July/August/September] first payment date: _____ %
<PAGE>
AFC MORTGAGE LOAN ASSET BACKED CERTIFICATES, SERIES 1997-2
ATTACHMENT A TO SUBSEQUENT TRANSFER INSTRUMENT FOR SUB-POOL 2
Series 1997-2
________, 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 Mortgage 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. [July/August/September] first payment date: _____ %
<PAGE>
EXHIBIT U
FORM OF ADDITION NOTICE
[Date]
[Trustee]
___________________
___________________
Re: Pooling and Servicing Agreement, dated as of June 1, 1997
(the "Pooling and Servicing Agreement"), between [Depositor]
[Trustee] and [Servicer], relating to AFC Mortgage Loan Asset
Backed Certificates, Series 1997-2
-------------------------------------------------------------
Ladies and Gentlemen:
Pursuant to Section 2.10 of the 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 June 1,
1997, 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 June 1, 1997 (as amended,
supplemented or modified from time to time, the "Pooling Agreement") relating to
the AFC Mortgage Loan Asset Backed Certificates, Series 1997-2 (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 1996-4
----------
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 counter parts,
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-
SUBSEQUENT TRANSFER INSTRUMENT
Pursuant to this Subsequent Transfer Instrument (the "Instrument"), dated
June 30, 1997, between Superior Bank FSB, as seller (the "Depositor"), and
LaSalle National Bank, as Trustee of the AFC Mortgage Loan Asset Backed
Certificates, Series 1997-2, as purchaser (the "Trustee"), and pursuant to the
Pooling and Servicing Agreement, dated as of June 1, 1997, 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 Certificate Insurer or 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 1997-2
By: LASALLE NATIONAL BANK,
as Trustee
By: /s/ SHASHANK MISHRA
-----------------------------------
Name: Shashank Mishra
Title: First 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 1997-2
ATTACHMENT A TO SUBSEQUENT TRANSFER INSTRUMENT
FOR SUB-POOL 1
Series 1997-2
June 30, 1997
A.
1. Subsequent Cut-off Date: June 29, 1997
2. Pricing Date:
3. Subsequent Transfer Date: June 30, 1997
4. Aggregate Principal Balance of the Subsequent
Mortgage Loans as of the Subsequent Cut-off Date: $13,084,214.99
5. Purchase Price: 100.00%
B.
As to all the Subsequent Mortgage Loans the subject of this Instrument:
1. Shortest original term to maturity: 60 months
2. Longest original term to maturity: 60 months
3. Lowest Mortgage Rate: 9.380%
4. Greatest Combined Loan-to-Value Ratio: 90.00%
5. Largest Principal Balance $480,000.00
[As to the final transfer of Subsequent Mortgage Loans:]
6. Weighted Average Term since Origination: ____ months
7. July 1997 first payment date: -0-
8. WAC of all Mortgage Loans: _______%
9. WAM of all Mortgage Loans: ______ months
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 1997-2
ATTACHMENT A TO SUBSEQUENT TRANSFER INSTRUMENT
FOR SUB-POOL 2
Series 1997-2
June 30, 1997
A.
1. Subsequent Cut-off Date: June 29, 1997
2. Pricing Date:
3. Subsequent Transfer Date: June 30, 1997
4. Aggregate Principal Balance of the Subsequent
Mortgage Loans as of the Subsequent Cut-off Date: $20,432,638.21
5. Purchase Price: 100.00%
B.
As to all the Subsequent Mortgage Loans the subject of this Instrument:
1. Shortest original term to maturity: 240 months
2. Longest original term to maturity: 360 months
3. Lowest Mortgage Rate: 3.75%
4. Greatest Combined Loan-to-Value Ratio: 90.00%
5. Largest Principal Balance $590,000.00
[As to the final transfer of Subsequent Mortgage Loans:]
6. Weighted Average Term since Origination: ______ months
7. July 1997 first payment date: -0-
8. WAC of all Mortgage Loans: ______%
9. WA Gross Margin: ______
10. WAM of all Mortgage Loans: ______ months
11. Maximum Weighted average CLTV: ______%
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: -0-
5
<PAGE>
ADDITION NOTICE
Date: June 30, 1997
LaSalle National Bank
135 South LaSalle Street
Chicago, Illinois 60603
Re: Pooling and Servicing Agreement, dated as of June 1, 1997,
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 1997-2 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 June 30, 1997, with an aggregate principal balance of
$13,000,000.00*. 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 A. SORICELLI
-----------------------------
Name: John A. Soricelli
Title: Vice President
ACKNOWLEDGED AND AGREED:
LASALLE NATIONAL BANK
By: /s/ SHASHANK MISHRA
------------------------------
Name: Shashank Mishra
Title: First Vice President
Date: June 30, 1997
<PAGE>
ADDITION NOTICE
Date: June 30, 1997
LaSalle National Bank
135 South LaSalle Street
Chicago, Illinois 60603
Re: Pooling and Servicing Agreement, dated as of June 1, 1997,
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 1997-2 Sub-Pool 2
------------------------------------------------------------
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 June 30, 1997, with an aggregate principal balance of
$20,400,000.00*. 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 A. SORICELLI
-----------------------------
Name: John A. Soricelli
Title: Vice President
ACKNOWLEDGED AND AGREED:
LASALLE NATIONAL BANK
By: /s/ SHASHANK MISHRA
------------------------
Name: Shashank Mishra
Title: First Vice President
Date: June 30, 1997
<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 June 1, 1997, 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: June 30, 1997 By: /s/ WILLIAM C. BRACKEN
------------------------------------
Name: William C. Bracken
Title: Senior Vice President and
Chief Financial Officer
1
<PAGE>
Page 1 6/30/97
ALLIANCE FUNDING COMPANY
A DIVISION OF SUPERIOR BANK FSB
SALE SCHEDULE A
1997-2 CLASS 2 - 1ST SUBSEQUENT TRANSFER OF ADJUSTABLE RATE MORTGAGES -
SETTLEMENT 6/30/97 INITIAL MINIMUM MAXIMUM
<TABLE>
<CAPTION>
Principal
Origination Zip Balance at
Sale ID Account Name Address City State Code Origination
- ------------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C>
SB559 6109897 CASS CATHERINE 48 MANOR COURT STATEN ISLAND NY 10306 125,000.00
SB559 6136958 HAMM JAYNE M 2770 LAUREL LANE STEAMBOAT SPRINGS CO 80477 176,000.00
SB559 6137242 THOMAS ANNIE L 8214 SOUTH MUSKEGON CHICAGO IL 60617 74,000.00
SB559 6140339 PEREZ STEVEN R 4831 NORTH 87TH LANE PHOENIX AZ 85037 67,150.00
SB559 6142517 GIVENS LARRY W 3237 W DOUGLAS CHICAGO IL 60623 89,200.00
SB559 6145755 JOHNSON BENJAMIM B 1432 NE HIGHLAND STREET PORTLAND OR 97211 97,600.00
SB559 6146021 BYERS EMANUEL 16139 JUSTINE MARKHAM IL 60426 36,000.00
SB559 6146477 STANFILL WESLEY B 920 NORTH 7800 EAST HUNTSVILLE UT 84317 416,250.00
SB559 6146484 SELZER LILLIE M 7838 SOUTH SAGINAW CHICAGO IL 60649 76,500.00
SB559 6146502 NICHOLSON THOMAS W9833 HOGAN ROAD LEWISTON WI 53901 90,000.00
SB559 6146733 GROSCOST GARY B 2211 EAST SUADA DRIVE SALT LAKE CITY UT 84124 188,000.00
SB559 6147252 SIGNORELLI VICTORIA L 667 GODDARD WYANDOTTE MI 48192 54,700.00
SB559 6147268 SOLANO DANIEL 5344 MIKEWOOD WATERFORD MI 48327 104,000.00
SB559 6147440 HILL JOHN D 2605 BIG BUCK ROAD LAPEER MI 48446 92,000.00
SB559 6147674 COOK DAVID C 228 EDEAL ROAD LOS LUNAS NM 87031 169,600.00
SB559 6147714 TAP JOHN L 160 1ST STREET METAMORA MI 48455 41,200.00
SB559 6147868 ANDERSON AMBOUS 8545 SOUTH SANGAMON STREET CHICAGO IL 60620 52,000.00
SB559 6147890 ESAW-WARFIEL JACQUELINE 10488 E OUTER DRIVE DETROIT MI 48224 82,400.00
SB559 6147895 YORK ROBERT D 1606 E ANDOVER MUNCIE IN 47303 46,800.00
SB559 6148124 GLORIA RUBEN 805 SOUTH JACKSON WAUKEGAN IL 60085 60,600.00
SB559 6148132 BROWN THOMAS E RT 3 KAY ROAD LEWISTON MI 49756 33,200.00
SB559 6148183 CORDEIRO LINEU 515 NORTH 1260 WEST PROVO UT 84601 143,500.00
SB559 6148243 HILL GARY 10934 COUNTY ROAD 3 KIRK CO 80824 56,000.00
SB559 6148298 MCCANDLESS DAN 736 EAST 9990 SOUTH SANDY UT 84094 93,500.00
SB559 6148327 SAWSZAK LESIA 9812 SOUTH KOSTNER OAK LAWN IL 60453 126,000.00
SB559 6148337 BREWER JAMES F 3755 TAFT AVENUE SW WYOMING MI 49509 76,400.00
SB559 6148406 REGALA AGNES CAMBA 4819 WRIGHT TERRACE SKOKIE IL 60077 232,100.00
SB559 6148477 MCKINNIE ROBERT 145 EAST 231ST STREET STEGER IL 60475 99,750.00
SB559 6148519 BARTHOLOMEW PAUL A 665 SOUTH 1450 EAST SPANISH FORK UT 84660 103,000.00
SB559 6148569 LYNCH PETER 266 FORSYTH ROAD NEDERLAND CO 80466 136,000.00
SB559 6148589 FOLKS DARRYL 403 FRAZIER RIVER ROUGE MI 48218 20,000.00
SB559 6148646 EBERLY TWILA JO 11919 EAST CANAL DRIVE AURORA CO 80111 57,000.00
SB559 6148651 PERALTA BYRON R 2920 WEST MARIPOSA STREET PHOENIX AZ 85017 54,400.00
SB559 6148701 BONIFIELD ROSS C 14602 N 37TH STREET PHOENIX AZ 85032 82,000.00
SB559 6148742 KUKLA PATRICIA J 5751 W WAVELAND CHICAGO IL 60634 45,000.00
SB559 6148748 STEVENS LAWYER W JR 3811 WEST DIVISION CHICAGO IL 60651 72,200.00
SB559 6148846 THIEL ARLETTE 1610 SOUTH YATES STREET DENVER CO 80219 97,600.00
SB559 6148868 BUSHAW KEITH R 7967 SOUTH BROOK FOREST RO EVERGREEN CO 80439 164,250.00
SB559 6148938 KUMPF ASTASIA 12 EAST 5TH AVENUE LONGMONT CO 80501 98,175.00
SB559 6148948 PUSATELLO CHERRIE LYNN 3353 WEST TESS AVENUE WEST VALLEY CITY UT 84119 72,000.00
SB559 6148993 GAMMELL THEODORE 2145 BRUMMEL STREET EVANSTON IL 60202 100,000.00
SB559 6148994 AHMAD ABDEL 4955 WEST HENDERSON STREET CHICAGO IL 60641 161,500.00
SB559 6148996 AWAWDEH ZAINAB 17804 LILAC LANE TINLEY PARK IL 60477 160,000.00
SB559 6149044 ROSS TRACY W 2324 NORTH 1120 EAST LEHI UT 84043 148,750.00
SB559 6149118 LAYFIELD LAURA B 206 E TERRELL STREET CLINTON MI 49236 85,800.00
SB559 6149121 AIRRIESS MARTIN J 321 BAUMAN CLAWSON MI 48017 108,000.00
SB559 6149149 BARELA FRED A 4368 SOUTH 3200 WEST WEST VALLEY CITY UT 84119 117,900.00
SB559 6149152 WARD-SHIELDS PRISCILLA B 993 BLUE LANTERN DRIVE HENDERSON NV 89015 92,720.00
SB559 6149299 SNOW RYLAND C 13464 WEST 5000 SOUTH ROAD HERSCHER IL 60941 54,600.00
SB559 6149327 MELOY JEFFREY J 2648 JAMES ROAD AUBURN HILLS MI 48326 64,800.00
SB559 6149451 DANZIGER C 466 GOLD TRAIL FAIRPLAY CO 80440 105,200.00
SB559 6149527 NEWBY WILLIAM F 912 EAST 6TH STREET NEWBERG OR 97132 117,725.00
SB559 6149551 WILCOXSON ROBERT B 1873 NORTH 1850 EAST LAYTON UT 84040 446,250.00
SB559 6149639 SHAYA STEVE 7800 PATTON DETROIT MI 48238 55,800.00
SB559 6149695 ROSS TRAVIS 118 EAST 6715 SOUTH MIDVALE UT 84047 104,000.00
SB559 6149696 ANDERSON MARILYN 409 COLORADO BOULEVARD IDAHO SPRINGS CO 80452 119,000.00
SB559 6149719 SCHWARZKOPF ARLENE 3253 N LEAVITT CHICAGO IL 60618 138,800.00
SB559 6149845 COLBY JAMES 10766 GRAND BOULEVARD CROWN POINT IN 46307 178,500.00
SB559 6149942 LOTT VICKIE 16145 KENTFIELD DETROIT MI 48219 40,800.00
</TABLE>
<TABLE>
<CAPTION>
Initial Minimum Maximum
Cut-off Date First Mort- Mort- Mort-
Origination Principal Payment Maturity gage gage gage Gross
Sale ID Account Balance Date Date Rate Rate Rate Margin
- ----------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C>
SB559 6109897 124,371.10 06/01/96 05/01/26 9.875 9.875 15.875 6.250
SB559 6136958 175,470.21 01/01/97 12/01/26 9.500 8.500 15.500 5.250
SB559 6137242 73,874.25 02/01/97 01/01/27 10.250 9.250 16.250 5.750
SB559 6140339 67,109.18 05/01/97 04/01/27 11.750 10.750 17.750 7.500
SB559 6142517 89,200.00 07/01/97 06/01/27 11.625 10.625 17.625 6.000
SB559 6145755 97,600.00 07/01/97 06/01/27 13.250 12.250 19.250 8.250
SB559 6146021 36,000.00 07/01/97 06/01/27 13.125 12.125 19.125 7.500
SB559 6146477 416,250.00 07/01/97 06/01/27 11.000 10.000 17.000 6.250
SB559 6146484 76,500.00 07/01/97 06/01/27 9.250 8.250 15.250 4.500
SB559 6146502 90,000.00 08/01/97 07/01/27 10.000 9.000 16.000 5.250
SB559 6146733 188,000.00 07/01/97 06/01/27 9.500 8.500 15.500 5.000
SB559 6147252 54,700.00 07/01/97 06/01/27 10.000 10.000 16.000 6.000
SB559 6147268 104,000.00 07/01/97 06/01/27 12.750 11.750 18.750 8.500
SB559 6147440 92,000.00 07/01/97 06/01/27 10.250 9.250 16.250 6.250
SB559 6147674 169,600.00 08/01/97 07/01/27 10.750 9.750 16.750 6.250
SB559 6147714 41,200.00 08/01/97 07/01/27 12.875 11.875 18.875 7.500
SB559 6147868 52,000.00 07/01/97 06/01/27 11.250 11.250 17.250 6.750
SB559 6147890 82,400.00 08/01/97 07/01/27 12.875 11.875 18.875 7.500
SB559 6147895 46,800.00 08/01/97 07/01/27 12.375 11.375 18.375 6.750
SB559 6148124 60,600.00 07/01/97 06/01/27 13.250 12.250 19.250 7.750
SB559 6148132 33,200.00 07/01/97 06/01/27 12.250 11.250 18.250 7.250
SB559 6148183 143,500.00 08/01/97 07/01/27 9.750 8.750 15.750 5.250
SB559 6148243 56,000.00 08/01/97 07/01/27 8.625 7.625 14.625 3.750
SB559 6148298 93,500.00 08/01/97 07/01/27 11.625 11.625 17.625 7.750
SB559 6148327 126,000.00 07/01/97 06/01/27 13.625 12.625 19.625 8.250
SB559 6148337 76,400.00 07/01/97 06/01/27 13.500 12.500 19.500 8.500
SB559 6148406 232,100.00 08/01/97 07/01/27 11.125 10.125 17.125 6.250
SB559 6148477 99,750.00 08/01/97 07/01/27 11.125 10.125 17.125 6.500
SB559 6148519 103,000.00 07/01/97 06/01/27 10.750 9.750 16.750 6.250
SB559 6148569 136,000.00 08/01/97 07/01/27 10.750 9.750 16.750 6.250
SB559 6148589 20,000.00 08/01/97 07/01/27 11.375 10.375 17.375 6.000
SB559 6148646 57,000.00 07/01/97 06/01/27 8.750 7.750 14.750 4.250
SB559 6148651 54,400.00 07/01/97 06/01/27 10.250 9.250 16.250 5.750
SB559 6148701 82,000.00 08/01/97 07/01/27 11.000 10.000 17.000 6.500
SB559 6148742 45,000.00 07/01/97 06/01/27 10.000 10.000 16.000 6.000
SB559 6148748 72,200.00 08/01/97 07/01/27 10.375 10.375 16.375 6.500
SB559 6148846 97,600.00 07/01/97 06/01/27 10.000 9.000 16.000 5.250
SB559 6148868 164,250.00 08/01/97 07/01/27 9.875 8.875 15.875 5.000
SB559 6148938 98,175.00 07/01/97 06/01/27 10.375 10.375 16.375 6.500
SB559 6148948 72,000.00 08/01/97 07/01/27 9.625 8.625 15.625 5.000
SB559 6148993 100,000.00 08/01/97 07/01/27 10.750 9.750 16.750 5.750
SB559 6148994 161,500.00 07/01/97 06/01/27 11.125 10.125 17.125 6.250
SB559 6148996 160,000.00 07/01/97 06/01/27 10.500 10.500 16.500 6.750
SB559 6149044 148,750.00 08/01/97 07/01/27 9.375 9.375 15.375 5.750
SB559 6149118 85,800.00 07/01/97 06/01/27 10.875 10.875 16.875 7.250
SB559 6149121 108,000.00 07/01/97 06/01/27 11.000 11.000 17.000 7.000
SB559 6149149 117,900.00 07/01/97 06/01/27 11.250 10.250 17.250 6.750
SB559 6149152 92,720.00 08/01/97 07/01/27 11.625 10.625 17.625 7.000
SB559 6149299 54,600.00 07/01/97 06/01/27 12.875 11.875 18.875 7.500
SB559 6149327 64,800.00 07/01/97 06/01/27 12.875 11.875 18.875 7.500
SB559 6149451 105,200.00 08/01/97 07/01/27 11.000 10.000 17.000 6.500
SB559 6149527 117,725.00 07/01/97 06/01/27 11.125 11.125 17.125 7.500
SB559 6149551 446,250.00 08/01/97 07/01/27 10.750 9.750 16.750 6.250
SB559 6149639 55,800.00 07/01/97 06/01/27 10.500 9.500 16.500 5.750
SB559 6149695 104,000.00 07/01/97 06/01/27 9.375 9.375 15.375 5.750
SB559 6149696 119,000.00 08/01/97 07/01/27 10.750 9.750 16.750 6.000
SB559 6149719 138,800.00 08/01/97 07/01/27 8.875 7.875 14.875 3.750
SB559 6149845 178,500.00 07/01/97 06/01/27 10.375 10.375 16.375 6.500
SB559 6149942 40,800.00 08/01/97 07/01/27 10.750 9.750 16.750 5.750
</TABLE>
<PAGE>
Page 2 6/30/97
ALLIANCE FUNDING COMPANY
A DIVISION OF SUPERIOR BANK FSB
SALE SCHEDULE A
1997-2 CLASS 2 - 1ST SUBSEQUENT TRANSFER OF ADJUSTABLE RATE MORTGAGES -
SETTLEMENT 6/30/97 INITIAL MINIMUM MAXIMUM
<TABLE>
<CAPTION>
Principal
Origination Zip Balance at
Sale ID Account Name Address City State Code Origination
- ------------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C>
SB559 6150196 SELBY-ROSENC PAT 921 WEST MURIEL DRIVE PHOENIX AZ 85051 62,400.00
SB559 6150199 BREAUX JOHN A 439 RIVER MEADOW DRIVE ALPINE UT 84004 212,500.00
SB559 6150805 THIELE STEVEN 1521 EAST GARY DRIVE CHANDLER AZ 85225 113,500.00
---------------------------- ------------
62 Sale Total 6,789,620.00
</TABLE>
<TABLE>
<CAPTION>
Initial Minimum Maximum
Cut-off Date First Mort- Mort- Mort-
Origination Principal Payment Maturity gage gage gage Gross
Sale ID Account Balance Date Date Rate Rate Rate Margin
- ----------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C>
SB559 6150196 62,400.00 08/01/97 07/01/27 10.375 9.375 16.375 6.750
SB559 6150199 212,500.00 08/01/97 07/01/27 9.625 9.625 15.625 6.000
SB559 6150805 113,500.00 08/01/97 07/01/27 8.625 8.625 14.625 5.000
------------------------ ------------------------------
62 6,788,294.74 10.724 9.985 16.724 6.246
</TABLE>
<PAGE>
Page 3 6/30/97
ALLIANCE FUNDING COMPANY
A DIVISION OF SUPERIOR BANK FSB
SALE SCHEDULE A
1997-2 CLASS 2 - 1ST SUBSEQUENT TRANSFER OF ADJUSTABLE RATE MORTGAGES -
SETTLEMENT 6/30/97 INITIAL MINIMUM MAXIMUM
<TABLE>
<CAPTION>
Principal
Origination Zip Balance at
Sale ID Account Name Address City State Code Origination
- ------------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C>
SBC560 800033912 OLEJNIK WIESLAW 52-57 72ND PLACE MASPETH NY 11378 149,600.00
SBC560 800036410 DISESSO NICHOLAS 10 WINDSOR WAY EAST HANOVER NJ 07936 213,000.00
SBC560 800036907 GERALD MORTON 321 A RICHIE HIGHWAY SEVERNA PARK MD 21146 114,400.00
SBC560 800047110 APPLEBAUM TODD HARRIS 66 SPRINGFIELD RD NORTH BRUNSWICK NJ 08902 175,850.00
SBC560 800048928 DWYER THOMAS E JR 1445 EDGEMERE AVE FORKED RIVER NJ 08731 73,000.00
SBC560 800048993 DAFFIN MICHAEL 235 JUDITH WAY DAVENPORT FL 33837 66,400.00
SBC560 800055527 CALDERON LISA 310 KINDERKAMACK RD RIVER EDGE NJ 07661 183,750.00
SBC560 800083537 PEPER STEVEN 29 BREWSTER AVE NORTHPORT NY 11768 184,685.00
SBC560 800088320 OVALLE CARLOS M 102 ROCKLAND LN SPRING VALLEY NY 10977 140,000.00
SBC560 800089070 MACK ROBERT L SR 3704 MOHAWK AVENUE BALTIMORE MD 21207 46,150.00
SBC560 800103103 SHERMAN HILLARY 317 OAK RIDGE COURT LACKAWAXEN PA 18435 45,000.00
SBC560 800110322 PEREZ SONIA RODRIGUEZ 5504 N MARSHALL ST PHILADELPHIA PA 19120 50,400.00
SBC560 800116444 BRYANT GEORGE C II 73 CHRISTMAS TREE LN FAIRFIELD CT 06430 465,000.00
SBC560 800124190 AKRAMNAZ CHAUDHRY 1 WARGO COURT WEST HAVERSTRAW NY 10993 90,000.00
SBC560 800129611 PALUMBO JEFFREY 83 HAIG AVENUE STAMFORD CT 06902 127,500.00
SBC560 800133068 RUDD CLYDE TIMOTHY 6304 COTTON ROAD SNOW CAMP NC 27349 72,000.00
SBC560 800133696 IRIZARRY GUADALUPE 72 MORREAU AVENUE FREEHOLD NJ 07728 168,000.00
SBC560 800140022 CRAWFORD LOUISE C 248 CORNWELL DRIVE BEAR DE 19701 90,000.00
SBC560 800140998 BAUER NED 92 E 23RD STREET AVALON NJ 15132 600,000.00
SBC560 800149767 MARTINEZ JAMES 1427 E 64TH ST BROOKLYN NY 11234 137,700.00
SBC560 800150880 GRAHAM PAUL R 620 MAGILL ROAD SWARTHMORE PA 19089 140,000.00
SBC560 800152860 COOK GEORGE RD 2 UNION DALE MT PLEASANT PA 18453 97,600.00
SBC560 800156549 JEANTY GUITEU 25 MARKET STREET OSSINING NY 10562 52,000.00
SBC560 800157273 UPP DEBRA L 5799 PLATT SPRINGS RD LEXINGTON SC 29073 64,800.00
SBC560 800157661 LINDSAY COURTNEY 1438 EAST 85TH STREET BROOKLYN NY 11236 221,600.00
SBC560 800158727 DABEK TADEUSZ 230 WESTERLY TERRACE ROCKY HILL CT 06067 148,800.00
SBC560 800160814 COLON GERONIMO A 1467 ROUTE 202 POMONA NY 10970 236,250.00
SBC560 800161721 HAUBRICH EVERETT 25 MORRIS FARM ROAD LAFAYETTE NJ 07848 119,000.00
SBC560 800163248 FARRO ONORATO 27 ORA COURT EAST HANOVER NJ 07050 590,000.00
SBC560 800164394 WERENKO HOLLY JEAN 6264 FRENCH ST WATERTOWN CT 06795 130,500.00
SBC560 800166043 MIRASOLI VINCENT 74 PARK AVENUE BOHEMIA NY 11715 220,000.00
SBC560 800166936 CHAE JOHN H 62 WEST CEDAR STREET LIVINGSTON NJ 07039 181,800.00
SBC560 800168908 LONG KENNETH R 91 RICHTER ROAD JACKSON NJ 08527 170,000.00
SBC560 800170342 WELLS RICHARD C 24 URANUS RD SEWELL NJ 08080 65,000.00
SBC560 800170805 BA MOUSSA 6048 WILLIAMS ROAD NORCROSS GA 30093 96,000.00
SBC560 800171589 BLUME DAVID LYNN 11500 OLD MOUNT PLEASANT S CUMBERLAND MD 21502 73,950.00
SBC560 800172843 BAILEY LOUIS JR 4 POND VALLEY ROAD WOODBURY CT 06798 211,500.00
SBC560 800174591 MANDEL GOLDY 886 LIVINGSTON RD ELIZABETH NJ 07208 96,000.00
SBC560 800175366 OGORKIEWICZ MIECZYSLAW 627 SOUTH POTOMAC STREET BALTIMORE MD 21224 69,300.00
SBC560 800176471 FORSYTH NORMAN 2308 SOUND AVENUE CALVERTON NY 11933 375,000.00
SBC560 800178600 ARSENEC ANTOINE 89 FRANCESCA LANE STATEN ISLAND NY 10303 141,300.00
SBC560 800180309 MOZDEN JOSEPH F 37 PATTON DRIVE SAYREVILLE NJ 08876 55,000.00
SBC560 800181497 REEVES JOHN L 3751 6TH ST UPLAND PA 19015 50,150.00
SBC560 800182099 MCKITTRICK DAVID VALE STREET SALEM NY 12865 48,600.00
SBC560 800184731 ALDERSON KENNETH L 15230 PARRISH RD UPPERCO MD 21165 122,000.00
SBC560 800185043 WERLEY JEFFREY 531 LAWRENCE AVE WESTFIELD NJ 07090 239,500.00
SBC560 800185928 ROUZER JOHN M 90 TOPAZ DRIVE CHAMBERSBURG PA 17201 55,000.00
SBC560 800188666 SCHWARTZ STEVEN 5 EVERETT COURT MARLBORO NJ 07746 204,000.00
SBC560 800190084 BORIS KATHRYN G 25 GLEN CARLYN ROAD NEW BRITAIN CT 06053 99,200.00
SBC560 800191454 TRUMBO STEPHEN T 206 ALLOWAY-WOODSTOWN ROAD ALLOWAY NJ 08098 133,600.00
SBC560 800193179 LUND TIMOTHY 2546 AMBROSE LANE PORT CHARLOTTE FL 33952 50,400.00
SBC560 800193278 GILLETTE BONNIE 808 SOUTH RIDGE ROAD CATONSVILLE MD 21228 76,000.00
SBC560 800193369 BREITMAN LORI 180 SOUTH STATE RD BRIARCLIFF MANOR NY 10510 75,000.00
SBC560 800194102 AUSTIN DANIEL A RT 3 BOX 426 EMLENTON PA 16373 39,500.00
SBC560 800195927 DRUMMOND PEACHES 394 PARK PLACE BROOKLYN NY 11238 328,500.00
SBC560 800197170 LEE PRISCILLA 4423 PRINCETON TERRACE DECATUR GA 30035 89,100.00
SBC560 800198376 ACEVEDO MARGARITA 4044 GLEANE ST ELMHURST NY 11373 202,500.00
SBC560 800199044 KYRITZ WILLIAM 208 LAWRENCE DRIVE PARAMUS NJ 07652 103,000.00
SBC560 800200552 ELLISON CEDRIC LOUIS 214 CLOVERBROOK DRIVE JAMESTOWN NC 27282 124,950.00
</TABLE>
<TABLE>
<CAPTION>
Initial Minimum Maximum
Cut-off Date First Mort- Mort- Mort-
Origination Principal Payment Maturity gage gage gage Gross
Sale ID Account Balance Date Date Rate Rate Rate Margin
- ----------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C>
SBC560 800033912 149,336.69 01/01/97 12/01/26 12.000 11.000 18.000 7.750
SBC560 800036410 212,378.27 02/01/97 01/01/27 8.750 8.750 14.750 6.000
SBC560 800036907 114,255.65 02/01/97 01/01/27 11.625 10.625 17.625 7.250
SBC560 800047110 175,660.82 03/01/97 02/01/27 11.000 10.000 17.000 6.750
SBC560 800048928 72,748.38 03/01/97 02/01/27 10.750 9.750 16.750 7.000
SBC560 800048993 66,265.72 02/01/97 01/01/27 10.500 9.500 16.500 6.250
SBC560 800055527 183,416.37 02/01/97 01/01/27 11.000 10.000 17.000 7.000
SBC560 800083537 184,407.87 03/01/97 02/01/27 11.875 10.875 17.875 7.500
SBC560 800088320 139,942.52 05/01/97 04/01/27 13.500 12.500 19.500 8.500
SBC560 800089070 46,078.54 04/01/97 03/01/27 11.875 11.875 17.875 7.750
SBC560 800103103 28,304.70 05/01/97 04/01/27 9.500 8.500 15.500 6.250
SBC560 800110322 50,357.56 05/01/97 04/01/27 10.250 9.250 16.250 6.750
SBC560 800116444 464,308.39 04/01/97 03/01/27 9.500 9.500 15.500 5.500
SBC560 800124190 82,462.26 04/01/97 03/01/27 10.250 9.250 16.250 6.000
SBC560 800129611 127,500.00 06/01/97 05/01/27 10.125 10.125 16.125 6.500
SBC560 800133068 72,000.00 07/01/97 06/01/17 10.750 10.750 16.750 6.750
SBC560 800133696 168,000.00 06/01/97 05/01/27 9.875 8.875 15.875 6.000
SBC560 800140022 89,913.42 06/01/97 05/01/27 9.625 8.625 15.625 5.000
SBC560 800140998 511,336.15 05/01/97 04/01/27 9.625 9.625 15.625 6.250
SBC560 800149767 137,700.00 07/01/97 06/01/27 12.250 11.250 18.250 7.750
SBC560 800150880 139,868.83 05/01/97 04/01/27 9.750 8.750 15.750 6.500
SBC560 800152860 97,600.00 08/01/97 07/01/27 11.125 10.125 17.125 6.000
SBC560 800156549 51,985.53 06/01/97 05/01/27 12.125 11.125 18.125 8.250
SBC560 800157273 64,732.26 06/01/97 05/01/17 11.750 10.750 17.750 7.500
SBC560 800157661 221,600.00 08/01/97 07/01/27 11.750 10.750 17.750 8.250
SBC560 800158727 148,753.74 05/01/97 04/01/27 11.625 11.625 17.625 8.250
SBC560 800160814 236,250.00 07/01/97 06/01/27 9.750 8.750 15.750 5.500
SBC560 800161721 119,000.00 08/01/97 07/01/27 11.000 11.000 17.000 7.000
SBC560 800163248 590,000.00 07/01/97 06/01/27 9.875 9.875 15.875 6.250
SBC560 800164394 130,440.72 06/01/97 05/01/27 9.875 8.875 15.875 5.750
SBC560 800166043 220,000.00 06/01/97 05/01/27 9.750 8.750 15.750 6.250
SBC560 800166936 181,717.40 06/01/97 05/01/27 9.875 9.875 15.875 6.000
SBC560 800168908 170,000.00 07/01/97 06/01/27 11.750 10.750 17.750 7.250
SBC560 800170342 65,000.00 08/01/97 07/01/27 10.250 9.250 16.250 5.250
SBC560 800170805 96,000.00 07/01/97 06/01/27 7.625 7.625 13.625 3.750
SBC560 800171589 73,950.00 07/01/97 06/01/27 11.000 10.000 17.000 6.500
SBC560 800172843 211,500.00 07/01/97 06/01/27 10.000 9.000 16.000 5.500
SBC560 800174591 96,000.00 07/01/97 06/01/27 13.250 12.250 19.250 8.250
SBC560 800175366 69,263.12 06/01/97 05/01/27 9.125 9.125 15.125 6.250
SBC560 800176471 375,000.00 07/01/97 06/01/27 12.000 11.000 18.000 7.500
SBC560 800178600 141,300.00 07/01/97 06/01/27 9.375 9.375 15.375 5.750
SBC560 800180309 54,987.06 06/01/97 05/01/27 12.875 12.875 18.875 7.750
SBC560 800181497 50,150.00 07/01/97 06/01/27 11.375 11.375 17.375 7.500
SBC560 800182099 48,600.00 07/01/97 06/01/27 10.625 10.625 16.625 6.750
SBC560 800184731 122,000.00 07/01/97 06/01/27 10.625 9.625 16.625 5.750
SBC560 800185043 239,500.00 07/01/97 06/01/27 11.375 10.375 17.375 6.500
SBC560 800185928 54,958.15 07/01/97 06/01/27 7.375 7.375 13.375 4.500
SBC560 800188666 204,000.00 08/01/97 07/01/27 8.125 8.125 14.125 4.500
SBC560 800190084 99,200.00 08/01/97 07/01/27 12.250 11.250 18.250 7.250
SBC560 800191454 133,600.00 07/01/97 06/01/27 11.500 10.500 17.500 8.000
SBC560 800193179 50,400.00 08/01/97 07/01/27 10.750 9.750 16.750 5.750
SBC560 800193278 76,000.00 07/01/97 06/01/27 12.125 12.125 18.125 8.500
SBC560 800193369 75,000.00 07/01/97 06/01/27 10.875 9.875 16.875 6.250
SBC560 800194102 39,500.00 08/01/97 07/01/17 9.625 8.625 15.625 4.500
SBC560 800195927 328,500.00 07/01/97 06/01/27 10.625 10.625 16.625 7.000
SBC560 800197170 89,100.00 07/01/97 06/01/27 11.875 11.875 17.875 7.000
SBC560 800198376 202,500.00 07/01/97 06/01/27 10.250 9.250 16.250 7.250
SBC560 800199044 103,000.00 08/01/97 07/01/27 8.875 7.875 14.875 5.000
SBC560 800200552 124,950.00 08/01/97 07/01/27 10.625 10.625 16.625 6.500
</TABLE>
<PAGE>
Page 4 6/30/97
ALLIANCE FUNDING COMPANY
A DIVISION OF SUPERIOR BANK FSB
SALE SCHEDULE A
1997-2 CLASS 2 - 1ST SUBSEQUENT TRANSFER OF ADJUSTABLE RATE MORTGAGES -
SETTLEMENT 6/30/97 INITIAL MINIMUM MAXIMUM
<TABLE>
<CAPTION>
Principal
Origination Zip Balance at
Sale ID Account Name Address City State Code Origination
- ------------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C>
SBC560 800200867 CADENA CARLOS 99 23 39TH AVE CORONA NY 11368 229,500.00
SBC560 800200917 ARIAS MARIA 8309 MIDLAND PARKWAY JAMAICA NY 11432 306,000.00
SBC560 800200941 KONSTANTINID FRANK 24 SAMPSON PLACE LONG BRANCH NJ 07740 60,000.00
SBC560 800201246 GOBO KATHLEEN 23 GRANTWOOD ROAD WAYNE NJ 07470 198,000.00
SBC560 800201717 BISHER ROBERT 1405 MAIN STREET HELLERTOWN PA 18055 90,000.00
SBC560 800203366 DAMMAR MERRICK 782 BURKE AVENUE BRONX NY 10467 105,000.00
SBC560 800204075 KOWALSKI JAMES D 6357 BAHIA DEL MAR BLVD SO ST PETERSBURG FL 33715 65,625.00
SBC560 800204158 KLIENSORGE JOHN E. 6932 WADE DRIVE APEX NC 27502 124,000.00
SBC560 800205239 BALABOUS CHRIS 231 7TH ST ST JAMES NY 11780 109,650.00
SBC560 800205411 BABCOCK COLLEEN M 11 BROOKVIEW DRIVE WEST PATERSON NJ 07424 100,000.00
SBC560 800206179 CARR RICHARD J 56 EDGEWOOD LANE LEVITTOWN PA 19054 104,000.00
SBC560 800206187 GRENWAY BERNARD N 8795 MISSION RD JESSUP MD 20794 200,000.00
SBC560 800206435 COLLINS BERNICE 5403 GALE STREET NORTH CHARLESTON SC 29418 74,250.00
SBC560 800207235 SEYLER LEON J 210 PARK ROAD BLANDON PA 19510 104,000.00
SBC560 800207383 MANRING LOWELL T 4780 BAUX MOUNTAIN ROAD WINSTON SALEM NC 27105 113,900.00
SBC560 800207656 JOST JANET D 3945 BRANDEIS AVENUE BETHLEHEM PA 18017 129,200.00
SBC560 800209066 CULLUM ROBERT F 40 EAST 4TH STREET FREDERICK MD 21701 56,000.00
SBC560 800209561 SCHAFFERMAN LESLIE E 1509 LESLIE ROAD BALTIMORE MD 21222 64,500.00
SBC560 800210643 ROSENTEL JOHN ALLEN 1730 WYOMING AVENUE FORTY FORT PA 18704 115,000.00
SBC560 800211567 TYLER SHEILA B 429 FISHER STREET PITTSBURGH PA 15210 44,000.00
SBC560 800212631 SALCEDO ANN M 2212 TURNBULL AVENUE BRONX NY 10472 100,800.00
SBC560 800212854 POLLYDORE CHARLES 90 SUNSET DRIVE HEMPSTEAD NY 11550 120,000.00
SBC560 800214520 BAKER PAULINE S 5626 EMMAUS ROAD EMMAUS PA 18049 114,750.00
SBC560 800215170 BASANTES BELLA 1309 UNION TPKE NORTH BERGEN NJ 07047 109,800.00
SBC560 800216079 SHENASSA SIMONE 1380 PLEASANT VALLEY WAY WEST ORANGE NJ 07052 200,000.00
SBC560 800216459 GARDNER RON A 22 MUSCONETCONG RIVER RD HAMPTON NJ 08827 188,000.00
SBC560 800216624 FESSOCK GARY M 3236 HARVARD PLACE BETHLEHEM PA 18017 173,000.00
SBC560 800217077 LONG CATHERINE A 120 BRIDGEWOOD LANE WATERVLIET NY 12189 94,350.00
SBC560 800217085 ALTMAN STANLEY W 409 FAIRGREEN AVENUE NEW CASTLE PA 16105 75,650.00
SBC560 800217754 GAMBLER CHRISTOPHE S 1207 CATASAUQUA ROAD WHITEHALL PA 18052 61,200.00
SBC560 800218141 KIBLER ERVAN TODD 2746 CEDARHURST ROAD FINKSBURG MD 21048 125,500.00
SBC560 800219552 SCHIRLING TERRY L 261262 HOLLINGSWORTH MANOR ELKTON MD 21921 45,500.00
SBC560 800220592 COELLO BERKYS 5538 SEVEN NATIONS DRIVE TOBYHANNA PA 18466 151,300.00
SBC560 800220774 MAGILL HOBE L 1800 WHARF ROAD SARASOTA FL 34231 69,700.00
SBC560 800222309 WOOD RICHARD A 438 BROAD STREET WINDSOR CT 06095 116,000.00
SBC560 800225591 HUFF ROBERT J. 1869 63RD TERRACE SOUTH ST PETERSBURG FL 33705 73,000.00
SBC560 800225922 LOPEZ RUBEN 144 WEST END AVENUE NEWARK NJ 07106 105,300.00
SBC560 800227290 KRIEGSTEIN DAVID 21111 NORTHEAST 21ST PLACE NORTH MIAMI BEACH FL 33179 195,500.00
SBC560 800227654 AQUHART LENNOX O 7526 COVENTRY DRIVE PORT RICHEY FL 34668 44,135.00
SBC560 800229593 ROSE BARBARA A 201 PLEASANT VALLY ROAD CLAYSVILLE PA 15323 65,000.00
SBC560 800230633 TZIAMIHAS VICKI 453 STAPLES STREET FARMINGDALE NY 11735 74,000.00
SBC560 800231177 BERGIAN PETER J 181 LOT 181 REDCLIFF DRIVE TOBYHANNA PA 18466 144,000.00
SBC560 800236689 ZARRILLO LEONARD J 1619 BAY RIDGE AVENUE BROOKLYN NY 11204 133,000.00
---------------------------- ------------
0 Sale Total 13,760,945.00
#REF! Total with Superior 20,550,565.00
#REF! Grand Total 20,550,565.00
</TABLE>
<TABLE>
<CAPTION>
Initial Minimum Maximum
Cut-off Date First Mort- Mort- Mort-
Origination Principal Payment Maturity gage gage gage Gross
Sale ID Account Balance Date Date Rate Rate Rate Margin
- ----------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C>
SBC560 800200867 229,500.00 07/01/97 06/01/27 10.250 9.250 16.250 6.750
SBC560 800200917 306,000.00 07/01/97 06/01/27 12.125 11.125 18.125 7.250
SBC560 800200941 60,000.00 07/01/97 06/01/27 11.250 11.250 17.250 7.250
SBC560 800201246 198,000.00 07/01/97 06/01/27 10.500 9.500 16.500 5.750
SBC560 800201717 90,000.00 07/01/97 06/01/27 9.875 8.875 15.875 6.000
SBC560 800203366 105,000.00 07/01/97 06/01/27 10.000 9.000 16.000 5.250
SBC560 800204075 65,625.00 07/01/97 06/01/27 8.875 7.875 14.875 3.750
SBC560 800204158 124,000.00 07/01/97 06/01/22 11.250 10.250 17.250 6.500
SBC560 800205239 109,650.00 07/01/97 06/01/27 10.875 10.875 16.875 7.250
SBC560 800205411 99,953.35 06/20/97 05/20/27 9.750 8.750 15.750 5.250
SBC560 800206179 104,000.00 08/01/97 07/01/27 12.875 11.875 18.875 7.500
SBC560 800206187 200,000.00 07/01/97 06/01/27 10.000 9.000 16.000 5.500
SBC560 800206435 74,250.00 07/01/97 06/01/27 10.125 9.125 16.125 6.000
SBC560 800207235 104,000.00 08/01/97 07/01/27 12.375 11.375 18.375 6.750
SBC560 800207383 113,900.00 08/01/97 07/01/27 10.000 9.000 16.000 5.250
SBC560 800207656 129,200.00 08/01/97 07/01/27 10.125 10.125 16.125 6.500
SBC560 800209066 56,000.00 07/01/97 06/01/27 11.000 10.000 17.000 7.000
SBC560 800209561 64,500.00 07/01/97 06/01/27 9.750 9.750 15.750 7.000
SBC560 800210643 115,000.00 07/01/97 06/01/27 12.250 11.250 18.250 7.750
SBC560 800211567 44,000.00 08/01/97 07/01/27 12.250 11.250 18.250 7.250
SBC560 800212631 100,800.00 06/01/97 05/01/27 12.250 11.250 18.250 7.000
SBC560 800212854 120,000.00 08/01/97 07/01/27 12.375 11.375 18.375 6.750
SBC560 800214520 114,750.00 08/01/97 07/01/27 11.250 10.250 17.250 6.500
SBC560 800215170 109,800.00 07/01/97 06/01/27 10.125 10.125 16.125 6.500
SBC560 800216079 200,000.00 08/01/97 07/01/27 10.625 9.625 16.625 7.000
SBC560 800216459 188,000.00 08/01/97 07/01/27 11.500 10.500 17.500 7.250
SBC560 800216624 173,000.00 08/01/97 07/01/27 9.875 9.875 15.875 6.000
SBC560 800217077 94,350.00 08/01/97 07/01/27 10.375 10.375 16.375 6.500
SBC560 800217085 75,650.00 08/01/97 07/01/27 11.250 10.250 17.250 5.250
SBC560 800217754 61,200.00 08/01/97 07/01/27 11.125 10.125 17.125 6.250
SBC560 800218141 125,500.00 07/01/97 06/01/27 11.125 11.125 17.125 8.250
SBC560 800219552 45,500.00 08/01/97 07/01/27 8.875 7.875 14.875 3.750
SBC560 800220592 151,300.00 08/01/97 07/01/27 11.125 10.125 17.125 6.250
SBC560 800220774 69,700.00 08/01/97 07/01/27 11.125 10.125 17.125 6.250
SBC560 800222309 116,000.00 08/01/97 07/01/27 10.000 9.000 16.000 5.250
SBC560 800225591 73,000.00 08/01/97 07/01/27 11.125 10.125 17.125 6.250
SBC560 800225922 105,300.00 07/01/97 06/01/27 11.625 10.625 17.625 6.000
SBC560 800227290 195,500.00 08/01/97 07/01/27 11.250 10.250 17.250 6.500
SBC560 800227654 44,135.00 08/01/97 07/01/27 12.875 11.875 18.875 7.500
SBC560 800229593 65,000.00 08/01/97 07/01/27 10.875 9.875 16.875 5.500
SBC560 800230633 74,000.00 08/01/97 07/01/27 9.875 9.875 15.875 6.250
SBC560 800231177 144,000.00 08/01/97 07/01/27 12.875 11.875 18.875 7.500
SBC560 800236689 133,000.00 07/01/97 06/01/27 12.750 11.750 18.750 7.250
------------------------ ------------------------------
0 13,644,343.47 10.706 10.054 16.706 6.523
#REF! 20,432,638.21 10.712 10.031 16.712 6.431
#REF! 20,432,638.21 10.712 10.031 16.712 6.431
</TABLE>
<PAGE>
Page 1 6/30/97
ALLIANCE FUNDING COMPANY
A DIVISION OF SUPERIOR BANK FSB
SALE SCHEDULE B
1997-2 CLASS 2 - 1ST SUBSEQUENT TRANSFER OF ADJUSTABLE RATE MORTGAGES -
SETTLEMENT 6/30/97
<TABLE>
<CAPTION>
Principal Type of Scheduled Cut-off Date Original
Origination Balance at Mortgaged Payment Principal LTV
Sale ID Account Name Origination Property Int & Prin Balance Ratio
- ----------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C>
SB559 6109897 CASS CATHERINE 125,000.00 1 1,272.51 124,371.10 23.3
SB559 6136958 HAMM JAYNE M 176,000.00 1 1,479.90 175,470.21 80.0
SB559 6137242 THOMAS ANNIE L 74,000.00 1 663.12 73,874.25 87.0
SB559 6140339 PEREZ STEVEN R 67,150.00 1 677.82 67,109.18 85.0
SB559 6142517 GIVENS LARRY W 89,200.00 3 891.86 89,200.00 74.9
SB559 6145755 JOHNSON BENJAMIM B 97,600.00 1 1,098.76 97,600.00 80.0
SB559 6146021 BYERS EMANUEL 36,000.00 1 401.75 36,000.00 80.0
SB559 6146477 STANFILL WESLEY B 416,250.00 1 3,964.05 416,250.00 75.0
SB559 6146484 SELZER LILLIE M 76,500.00 3 629.35 76,500.00 85.0
SB559 6146502 NICHOLSON THOMAS 90,000.00 1 789.81 90,000.00 75.0
SB559 6146733 GROSCOST GARY B 188,000.00 1 1,580.81 188,000.00 80.0
SB559 6147252 SIGNORELLI VICTORIA L 54,700.00 1 480.03 54,700.00 72.9
SB559 6147268 SOLANO DANIEL 104,000.00 1 1,130.16 104,000.00 79.6
SB559 6147440 HILL JOHN D 92,000.00 1 824.41 92,000.00 80.0
SB559 6147674 COOK DAVID C 169,600.00 1 1,583.18 169,600.00 80.0
SB559 6147714 TAP JOHN L 41,200.00 1 451.73 41,200.00 80.0
SB559 6147868 ANDERSON AMBOUS 52,000.00 1 505.06 52,000.00 65.0
SB559 6147890 ESAW-WARFIEL JACQUELINE 82,400.00 1 903.46 82,400.00 80.0
SB559 6147895 YORK ROBERT D 46,800.00 1 494.94 46,800.00 65.0
SB559 6148124 GLORIA RUBEN 60,600.00 1 682.22 60,600.00 61.5
SB559 6148132 BROWN THOMAS E 33,200.00 1 347.90 33,200.00 67.0
SB559 6148183 CORDEIRO LINEU 143,500.00 3 1,232.89 143,500.00 70.0
SB559 6148243 HILL GARY 56,000.00 1 435.56 56,000.00 80.0
SB559 6148298 MCCANDLESS DAN 93,500.00 1 934.85 93,500.00 85.0
SB559 6148327 SAWSZAK LESIA 126,000.00 1 1,455.62 126,000.00 78.7
SB559 6148337 BREWER JAMES F 76,400.00 1 875.09 76,400.00 80.0
SB559 6148406 REGALA AGNES CAMBA 232,100.00 4 2,232.29 232,100.00 85.9
SB559 6148477 MCKINNIE ROBERT 99,750.00 1 959.38 99,750.00 75.0
SB559 6148519 BARTHOLOMEW PAUL A 103,000.00 1 961.49 103,000.00 87.2
SB559 6148569 LYNCH PETER 136,000.00 1 1,269.53 136,000.00 85.0
SB559 6148589 FOLKS DARRYL 20,000.00 1 196.15 20,000.00 57.1
SB559 6148646 EBERLY TWILA JO 57,000.00 8 448.42 57,000.00 66.2
SB559 6148651 PERALTA BYRON R 54,400.00 1 487.48 54,400.00 85.0
SB559 6148701 BONIFIELD ROSS C 82,000.00 1 780.91 82,000.00 84.6
SB559 6148742 KUKLA PATRICIA J 45,000.00 1 394.91 45,000.00 30.0
SB559 6148748 STEVENS LAWYER W JR 72,200.00 3 653.70 72,200.00 84.9
SB559 6148846 THIEL ARLETTE 97,600.00 1 856.51 97,600.00 80.0
SB559 6148868 BUSHAW KEITH R 164,250.00 1 1,426.26 164,250.00 90.0
SB559 6148938 KUMPF ASTASIA 98,175.00 1 888.88 98,175.00 85.0
SB559 6148948 PUSATELLO CHERRIE LYNN 72,000.00 1 611.99 72,000.00 80.0
SB559 6148993 GAMMELL THEODORE 100,000.00 1 933.48 100,000.00 68.9
SB559 6148994 AHMAD ABDEL 161,500.00 3 1,553.28 161,500.00 85.0
SB559 6148996 AWAWDEH ZAINAB 160,000.00 1 1,463.58 160,000.00 71.1
SB559 6149044 ROSS TRACY W 148,750.00 1 1,237.23 148,750.00 85.0
SB559 6149118 LAYFIELD LAURA B 85,800.00 1 809.00 85,800.00 86.6
SB559 6149121 AIRRIESS MARTIN J 108,000.00 1 1,028.51 108,000.00 80.0
SB559 6149149 BARELA FRED A 117,900.00 1 1,145.12 117,900.00 90.0
SB559 6149152 WARD-SHIELDS PRISCILLA B 92,720.00 8 927.05 92,720.00 79.9
SB559 6149299 SNOW RYLAND C 54,600.00 1 598.66 54,600.00 70.0
SB559 6149327 MELOY JEFFREY J 64,800.00 1 710.49 64,800.00 80.0
SB559 6149451 DANZIGER C 105,200.00 1 1,001.84 105,200.00 80.0
SB559 6149527 NEWBY WILLIAM F 117,725.00 1 1,132.26 117,725.00 85.0
SB559 6149551 WILCOXSON ROBERT B 446,250.00 1 4,165.66 446,250.00 85.0
SB559 6149639 SHAYA STEVE 55,800.00 1 510.42 55,800.00 90.0
SB559 6149695 ROSS TRAVIS 104,000.00 1 865.02 104,000.00 80.0
SB559 6149696 ANDERSON MARILYN 119,000.00 1 1,110.84 119,000.00 85.0
SB559 6149719 SCHWARZKOPF ARLENE 138,800.00 3 1,104.36 138,800.00 82.1
SB559 6149845 COLBY JAMES 178,500.00 1 1,616.15 178,500.00 85.0
SB559 6149942 LOTT VICKIE 40,800.00 1 380.86 40,800.00 60.0
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
Next Current Property
Origination Adjustment Mortgage Value at Owner
Sale ID Account Date Rate Origination Occupied
- -------------------------------------------------------------------
<S> <C> <C> <C> <C> <C>
SB559 6109897 11/01/97 11.875 536,000.00 Y
SB559 6136958 12/01/98 9.500 220,000.00 Y
SB559 6137242 01/01/99 10.250 85,000.00 Y
SB559 6140339 04/01/99 11.750 79,000.00 Y
SB559 6142517 06/01/99 11.625 119,000.00 Y
SB559 6145755 06/01/99 13.250 122,000.00 Y
SB559 6146021 06/01/99 13.125 45,000.00 Y
SB559 6146477 06/01/99 11.000 555,000.00 Y
SB559 6146484 06/01/99 9.250 90,000.00 Y
SB559 6146502 07/01/99 10.000 120,000.00 Y
SB559 6146733 06/01/99 9.500 235,000.00 Y
SB559 6147252 12/01/97 10.000 75,000.00 Y
SB559 6147268 06/01/99 12.750 130,500.00 Y
SB559 6147440 06/01/99 10.250 115,000.00 Y
SB559 6147674 07/01/99 10.750 212,000.00 Y
SB559 6147714 07/01/99 12.875 51,500.00 Y
SB559 6147868 12/01/97 11.250 80,000.00 Y
SB559 6147890 07/01/99 12.875 103,000.00 Y
SB559 6147895 07/01/99 12.375 72,000.00 Y
SB559 6148124 06/01/99 13.250 98,500.00 Y
SB559 6148132 06/01/99 12.250 49,500.00 Y
SB559 6148183 07/01/99 9.750 205,000.00 N
SB559 6148243 07/01/99 8.625 70,000.00 Y
SB559 6148298 01/01/98 11.625 110,000.00 Y
SB559 6148327 06/01/99 13.625 160,000.00 Y
SB559 6148337 06/01/99 13.500 95,500.00 Y
SB559 6148406 07/01/99 11.125 270,000.00 Y
SB559 6148477 07/01/99 11.125 133,000.00 Y
SB559 6148519 06/01/99 10.750 118,000.00 Y
SB559 6148569 07/01/99 10.750 160,000.00 Y
SB559 6148589 07/01/99 11.375 35,000.00 Y
SB559 6148646 06/01/99 8.750 86,000.00 Y
SB559 6148651 06/01/99 10.250 64,000.00 Y
SB559 6148701 07/01/99 11.000 96,900.00 Y
SB559 6148742 12/01/97 10.000 150,000.00 Y
SB559 6148748 01/01/98 10.375 85,000.00 Y
SB559 6148846 06/01/99 10.000 122,000.00 Y
SB559 6148868 07/01/99 9.875 182,500.00 Y
SB559 6148938 12/01/97 10.375 115,500.00 Y
SB559 6148948 07/01/99 9.625 90,000.00 Y
SB559 6148993 07/01/99 10.750 145,000.00 Y
SB559 6148994 06/01/99 11.125 190,000.00 Y
SB559 6148996 12/01/97 10.500 225,000.00 Y
SB559 6149044 01/01/98 9.375 175,000.00 Y
SB559 6149118 12/01/97 10.875 99,000.00 Y
SB559 6149121 12/01/97 11.000 135,000.00 Y
SB559 6149149 06/01/99 11.250 131,000.00 Y
SB559 6149152 07/01/99 11.625 115,990.00 Y
SB559 6149299 06/01/99 12.875 78,000.00 Y
SB559 6149327 06/01/99 12.875 81,000.00 Y
SB559 6149451 07/01/99 11.000 131,500.00 Y
SB559 6149527 12/01/97 11.125 138,500.00 Y
SB559 6149551 07/01/99 10.750 525,000.00 Y
SB559 6149639 06/01/99 10.500 62,000.00 Y
SB559 6149695 12/01/97 9.375 130,000.00 Y
SB559 6149696 07/01/99 10.750 140,000.00 Y
SB559 6149719 07/01/99 8.875 169,000.00 Y
SB559 6149845 12/01/97 10.375 210,000.00 Y
SB559 6149942 07/01/99 10.750 68,000.00 Y
</TABLE>
<PAGE>
Page 2 6/30/97
ALLIANCE FUNDING COMPANY
A DIVISION OF SUPERIOR BANK FSB
SALE SCHEDULE B
1997-2 CLASS 2 - 1ST SUBSEQUENT TRANSFER OF ADJUSTABLE RATE MORTGAGES -
SETTLEMENT 6/30/97
<TABLE>
<CAPTION>
Principal Type of Scheduled Cut-off Date Original
Origination Balance at Mortgaged Payment Principal LTV
Sale ID Account Name Origination Property Int & Prin Balance Ratio
- ----------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C>
SB559 6150196 SELBY-ROSENC PAT 62,400.00 1 564.98 62,400.00 80.0
SB559 6150199 BREAUX JOHN A 212,500.00 1 1,806.23 212,500.00 85.0
SB559 6150805 THIELE STEVEN 113,500.00 8 882.80 113,500.00 79.9
------------------------------------------------------- ---------------------------------------
62 Sale Total 6,789,620.00 63,502.56 6,788,294.74 79.1
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
Next Current Property
Origination Adjustment Mortgage Value at Owner
Sale ID Account Date Rate Origination Occupied
- -------------------------------------------------------------------
<S> <C> <C> <C> <C> <C>
SB559 6150196 07/01/99 10.375 78,000.00 Y
SB559 6150199 01/01/98 9.625 250,000.00 Y
SB559 6150805 01/01/98 8.625 141,900.00 Y
----------- -------------------------
62 10.761 8,960,290.00
</TABLE>
<PAGE>
Page 3 6/30/97
ALLIANCE FUNDING COMPANY
A DIVISION OF SUPERIOR BANK FSB
SALE SCHEDULE B
1997-2 CLASS 2 - 1ST SUBSEQUENT TRANSFER OF ADJUSTABLE RATE MORTGAGES -
SETTLEMENT 6/30/97
<TABLE>
<CAPTION>
Principal Type of Scheduled Cut-off Date Original
Origination Balance at Mortgaged Payment Principal LTV
Sale ID Account Name Origination Property Int & Prin Balance Ratio
- ----------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C>
SBC560 800033912 OLEJNIK WIESLAW 149,600.00 1 1,538.80 149,336.69 85.0
SBC560 800036410 DISESSO NICHOLAS 213,000.00 1 1,675.67 212,378.27 65.5
SBC560 800036907 GERALD MORTON 114,400.00 1 1,143.82 114,255.65 80.0
SBC560 800047110 APPLEBAUM TODD HARRIS 175,850.00 1 1,674.66 175,660.82 84.9
SBC560 800048928 DWYER THOMAS E JR 73,000.00 1 681.44 72,748.38 52.1
SBC560 800048993 DAFFIN MICHAEL 66,400.00 1 607.39 66,265.72 80.0
SBC560 800055527 CALDERON LISA 183,750.00 1 1,749.89 183,416.37 75.0
SBC560 800083537 PEPER STEVEN 184,685.00 1 1,881.95 184,407.87 85.9
SBC560 800088320 OVALLE CARLOS M 140,000.00 1 1,603.58 139,942.52 80.0
SBC560 800089070 MACK ROBERT L SR 46,150.00 1 470.27 46,078.54 65.0
SBC560 800103103 SHERMAN HILLARY 45,000.00 1 378.39 28,304.70 63.3
SBC560 800110322 PEREZ SONIA RODRIGUEZ 50,400.00 1 451.63 50,357.56 90.0
SBC560 800116444 BRYANT GEORGE C II 465,000.00 1 3,909.97 464,308.39 67.8
SBC560 800124190 AKRAMNAZ CHAUDHRY 90,000.00 1 806.49 82,462.26 66.6
SBC560 800129611 PALUMBO JEFFREY 127,500.00 1 1,130.70 127,500.00 85.0
SBC560 800133068 RUDD CLYDE TIMOTHY 72,000.00 7 730.96 72,000.00 80.0
SBC560 800133696 IRIZARRY GUADALUPE 168,000.00 1 1,458.82 168,000.00 80.0
SBC560 800140022 CRAWFORD LOUISE C 90,000.00 1 764.99 89,913.42 41.1
SBC560 800140998 BAUER NED 600,000.00 1 5,099.93 511,336.15 80.0
SBC560 800149767 MARTINEZ JAMES 137,700.00 1 1,442.95 137,700.00 85.0
SBC560 800150880 GRAHAM PAUL R 140,000.00 1 1,202.82 139,868.83 74.8
SBC560 800152860 COOK GEORGE 97,600.00 1 938.70 97,600.00 80.0
SBC560 800156549 JEANTY GUITEU 52,000.00 1 539.89 51,985.53 80.0
SBC560 800157273 UPP DEBRA L 64,800.00 7 702.24 64,732.26 90.0
SBC560 800157661 LINDSAY COURTNEY 221,600.00 3 2,236.85 221,600.00 80.0
SBC560 800158727 DABEK TADEUSZ 148,800.00 1 1,487.76 148,753.74 80.0
SBC560 800160814 COLON GERONIMO A 236,250.00 1 2,029.75 236,250.00 75.0
SBC560 800161721 HAUBRICH EVERETT 119,000.00 3 1,133.26 119,000.00 70.0
SBC560 800163248 FARRO ONORATO 590,000.00 1 5,123.25 590,000.00 78.4
SBC560 800164394 WERENKO HOLLY JEAN 130,500.00 4 1,133.19 130,440.72 90.0
SBC560 800166043 MIRASOLI VINCENT 220,000.00 1 1,890.14 220,000.00 80.0
SBC560 800166936 CHAE JOHN H 181,800.00 1 1,578.66 181,717.40 90.0
SBC560 800168908 LONG KENNETH R 170,000.00 1 1,716.00 170,000.00 85.0
SBC560 800170342 WELLS RICHARD C 65,000.00 1 582.47 65,000.00 63.1
SBC560 800170805 BA MOUSSA 96,000.00 1 679.48 96,000.00 80.0
SBC560 800171589 BLUME DAVID LYNN 73,950.00 1 704.24 73,950.00 85.0
SBC560 800172843 BAILEY LOUIS JR 211,500.00 1 1,856.06 211,500.00 90.0
SBC560 800174591 MANDEL GOLDY 96,000.00 1 1,080.74 96,000.00 80.0
SBC560 800175366 OGORKIEWICZ MIECZYSLAW 69,300.00 1 563.85 69,263.12 90.0
SBC560 800176471 FORSYTH NORMAN 375,000.00 1 3,857.30 375,000.00 83.8
SBC560 800178600 ARSENEC ANTOINE 141,300.00 1 1,175.27 141,300.00 90.0
SBC560 800180309 MOZDEN JOSEPH F 55,000.00 1 603.04 54,987.06 49.5
SBC560 800181497 REEVES JOHN L 50,150.00 1 491.85 50,150.00 85.0
SBC560 800182099 MCKITTRICK DAVID 48,600.00 1 449.12 48,600.00 90.0
SBC560 800184731 ALDERSON KENNETH L 122,000.00 1 1,127.40 122,000.00 67.7
SBC560 800185043 WERLEY JEFFREY 239,500.00 1 2,348.93 239,500.00 48.8
SBC560 800185928 ROUZER JOHN M 55,000.00 1 379.87 54,958.15 47.0
SBC560 800188666 SCHWARTZ STEVEN 204,000.00 1 1,514.69 204,000.00 80.0
SBC560 800190084 BORIS KATHRYN G 99,200.00 1 1,039.51 99,200.00 80.0
SBC560 800191454 TRUMBO STEPHEN T 133,600.00 1 1,323.03 133,600.00 80.0
SBC560 800193179 LUND TIMOTHY 50,400.00 1 470.47 50,400.00 90.0
SBC560 800193278 GILLETTE BONNIE 76,000.00 1 789.07 76,000.00 80.0
SBC560 800193369 BREITMAN LORI 75,000.00 1 707.17 75,000.00 26.7
SBC560 800194102 AUSTIN DANIEL A 39,500.00 7 371.42 39,500.00 73.1
SBC560 800195927 DRUMMOND PEACHES 328,500.00 4 3,035.66 328,500.00 88.7
SBC560 800197170 LEE PRISCILLA 89,100.00 1 907.93 89,100.00 90.0
SBC560 800198376 ACEVEDO MARGARITA 202,500.00 1 1,814.60 202,500.00 90.0
SBC560 800199044 KYRITZ WILLIAM 103,000.00 1 819.51 103,000.00 52.5
SBC560 800200552 ELLISON CEDRIC LOUIS 124,950.00 1 1,154.66 124,950.00 85.0
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
Next Current Property
Origination Adjustment Mortgage Value at Owner
Sale ID Account Date Rate Origination Occupied
- -------------------------------------------------------------------
<S> <C> <C> <C> <C> <C>
SBC560 800033912 12/01/98 12.000 176,000.00 Y
SBC560 800036410 07/01/97 8.750 325,000.00 Y
SBC560 800036907 01/01/99 11.625 143,000.00 Y
SBC560 800047110 02/01/99 11.000 206,900.00 Y
SBC560 800048928 02/01/99 10.750 140,000.00 Y
SBC560 800048993 01/01/99 10.500 83,000.00 Y
SBC560 800055527 01/01/99 11.000 245,000.00 Y
SBC560 800083537 02/01/99 11.875 215,000.00 Y
SBC560 800088320 04/01/99 13.500 175,000.00 Y
SBC560 800089070 09/01/97 11.875 71,000.00 Y
SBC560 800103103 04/01/99 9.500 71,000.00 Y
SBC560 800110322 04/01/99 10.250 56,000.00 Y
SBC560 800116444 09/01/97 9.500 685,000.00 Y
SBC560 800124190 03/01/99 10.250 135,000.00 Y
SBC560 800129611 11/01/97 10.125 150,000.00 Y
SBC560 800133068 12/01/97 10.750 90,000.00 Y
SBC560 800133696 05/01/99 9.875 210,000.00 Y
SBC560 800140022 05/01/99 9.625 218,965.00 Y
SBC560 800140998 10/01/97 9.625 750,000.00 Y
SBC560 800149767 06/01/99 12.250 162,000.00 Y
SBC560 800150880 04/01/99 9.750 187,000.00 Y
SBC560 800152860 07/01/99 11.125 122,000.00 Y
SBC560 800156549 05/01/99 12.125 65,000.00 Y
SBC560 800157273 05/01/99 11.750 72,000.00 Y
SBC560 800157661 07/01/99 11.750 277,000.00 Y
SBC560 800158727 10/01/97 11.625 186,000.00 Y
SBC560 800160814 06/01/99 9.750 315,000.00 N
SBC560 800161721 01/01/98 11.000 170,000.00 Y
SBC560 800163248 12/01/97 9.875 752,000.00 Y
SBC560 800164394 05/01/99 9.875 145,000.00 Y
SBC560 800166043 05/01/99 9.750 275,000.00 Y
SBC560 800166936 11/01/97 9.875 202,000.00 Y
SBC560 800168908 06/01/99 11.750 200,000.00 Y
SBC560 800170342 07/01/99 10.250 103,000.00 Y
SBC560 800170805 12/01/97 7.625 120,000.00 Y
SBC560 800171589 06/01/99 11.000 87,000.00 Y
SBC560 800172843 06/01/99 10.000 235,000.00 Y
SBC560 800174591 06/01/99 13.250 120,000.00 Y
SBC560 800175366 11/01/97 9.125 77,000.00 Y
SBC560 800176471 06/01/99 12.000 447,000.00 Y
SBC560 800178600 12/01/97 9.375 157,000.00 Y
SBC560 800180309 11/01/97 12.875 111,000.00 Y
SBC560 800181497 12/01/97 11.375 59,000.00 Y
SBC560 800182099 12/01/97 10.625 54,000.00 Y
SBC560 800184731 06/01/99 10.625 180,000.00 Y
SBC560 800185043 06/01/99 11.375 490,000.00 Y
SBC560 800185928 12/01/97 7.375 117,000.00 Y
SBC560 800188666 01/01/98 8.125 255,000.00 Y
SBC560 800190084 07/01/99 12.250 124,000.00 Y
SBC560 800191454 06/01/99 11.500 167,000.00 Y
SBC560 800193179 07/01/99 10.750 56,000.00 Y
SBC560 800193278 12/01/97 12.125 95,000.00 Y
SBC560 800193369 06/01/99 10.875 280,000.00 Y
SBC560 800194102 07/01/99 9.625 54,000.00 Y
SBC560 800195927 12/01/97 10.625 370,000.00 Y
SBC560 800197170 12/01/97 11.875 99,000.00 Y
SBC560 800198376 06/01/99 10.250 225,000.00 Y
SBC560 800199044 07/01/99 8.875 196,000.00 Y
SBC560 800200552 01/01/98 10.625 147,000.00 Y
</TABLE>
<PAGE>
Page 4 6/30/97
ALLIANCE FUNDING COMPANY
A DIVISION OF SUPERIOR BANK FSB
SALE SCHEDULE B
1997-2 CLASS 2 - 1ST SUBSEQUENT TRANSFER OF ADJUSTABLE RATE MORTGAGES -
SETTLEMENT 6/30/97
<TABLE>
<CAPTION>
Principal Type of Scheduled Cut-off Date Original
Origination Balance at Mortgaged Payment Principal LTV
Sale ID Account Name Origination Property Int & Prin Balance Ratio
- ----------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C>
SBC560 800200867 CADENA CARLOS 229,500.00 3 2,056.55 229,500.00 90.0
SBC560 800200917 ARIAS MARIA 306,000.00 1 3,177.03 306,000.00 85.0
SBC560 800200941 KONSTANTINID FRANK 60,000.00 1 582.76 60,000.00 80.0
SBC560 800201246 GOBO KATHLEEN 198,000.00 1 1,811.18 198,000.00 90.0
SBC560 800201717 BISHER ROBERT 90,000.00 1 781.51 90,000.00 90.0
SBC560 800203366 DAMMAR MERRICK 105,000.00 1 921.45 105,000.00 70.0
SBC560 800204075 KOWALSKI JAMES D 65,625.00 2 522.14 65,625.00 75.0
SBC560 800204158 KLIENSORGE JOHN E. 124,000.00 7 1,237.82 124,000.00 82.6
SBC560 800205239 BALABOUS CHRIS 109,650.00 1 1,033.88 109,650.00 85.0
SBC560 800205411 BABCOCK COLLEEN M 100,000.00 1 859.15 99,953.35 58.8
SBC560 800206179 CARR RICHARD J 104,000.00 1 1,140.29 104,000.00 80.0
SBC560 800206187 GRENWAY BERNARD N 200,000.00 1 1,755.14 200,000.00 80.0
SBC560 800206435 COLLINS BERNICE 74,250.00 1 658.47 74,250.00 90.0
SBC560 800207235 SEYLER LEON J 104,000.00 1 1,099.87 104,000.00 65.0
SBC560 800207383 MANRING LOWELL T 113,900.00 1 999.55 113,900.00 85.0
SBC560 800207656 JOST JANET D 129,200.00 1 1,145.77 129,200.00 85.0
SBC560 800209066 CULLUM ROBERT F 56,000.00 1 533.30 56,000.00 80.0
SBC560 800209561 SCHAFFERMAN LESLIE E 64,500.00 1 554.16 64,500.00 75.0
SBC560 800210643 ROSENTEL JOHN ALLEN 115,000.00 1 1,205.08 115,000.00 51.1
SBC560 800211567 TYLER SHEILA B 44,000.00 1 461.07 44,000.00 80.0
SBC560 800212631 SALCEDO ANN M 100,800.00 1 1,056.28 100,800.00 70.0
SBC560 800212854 POLLYDORE CHARLES 120,000.00 1 1,269.08 120,000.00 60.0
SBC560 800214520 BAKER PAULINE S 114,750.00 1 1,114.52 114,750.00 85.0
SBC560 800215170 BASANTES BELLA 109,800.00 1 973.73 109,800.00 90.0
SBC560 800216079 SHENASSA SIMONE 200,000.00 1 1,848.19 200,000.00 80.0
SBC560 800216459 GARDNER RON A 188,000.00 1 1,861.75 188,000.00 80.0
SBC560 800216624 FESSOCK GARY M 173,000.00 1 1,502.24 173,000.00 78.2
SBC560 800217077 LONG CATHERINE A 94,350.00 8 854.25 94,350.00 85.0
SBC560 800217085 ALTMAN STANLEY W 75,650.00 1 734.76 75,650.00 85.0
SBC560 800217754 GAMBLER CHRISTOPHE S 61,200.00 1 588.61 61,200.00 87.4
SBC560 800218141 KIBLER ERVAN TODD 125,500.00 3 1,207.04 125,500.00 76.0
SBC560 800219552 SCHIRLING TERRY L 45,500.00 3 362.02 45,500.00 70.0
SBC560 800220592 COELLO BERKYS 151,300.00 1 1,455.17 151,300.00 84.5
SBC560 800220774 MAGILL HOBE L 69,700.00 1 670.36 69,700.00 85.0
SBC560 800222309 WOOD RICHARD A 116,000.00 1 1,017.98 116,000.00 72.5
SBC560 800225591 HUFF ROBERT J. 73,000.00 1 702.10 73,000.00 81.1
SBC560 800225922 LOPEZ RUBEN 105,300.00 4 1,052.83 105,300.00 90.0
SBC560 800227290 KRIEGSTEIN DAVID 195,500.00 1 1,898.82 195,500.00 85.0
SBC560 800227654 AQUHART LENNOX O 44,135.00 1 483.91 44,135.00 80.9
SBC560 800229593 ROSE BARBARA A 65,000.00 1 612.88 65,000.00 65.0
SBC560 800230633 TZIAMIHAS VICKI 74,000.00 1 642.58 74,000.00 80.0
SBC560 800231177 BERGIAN PETER J 144,000.00 1 1,578.87 144,000.00 80.0
SBC560 800236689 ZARRILLO LEONARD J 133,000.00 3 1,445.30 133,000.00 46.9
------------------------------------------------------- ---------------------------------------
102 Sale Total 13,760,945.00 128,231.59 13,644,343.47 78.3
164 Total with Superior 20,550,565.00 191,734.15 20,432,638.21 78.6
164 Grand Total 20,550,565.00 191,734.15 20,432,638.21 78.6
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
Next Current Property
Origination Adjustment Mortgage Value at Owner
Sale ID Account Date Rate Origination Occupied
- -------------------------------------------------------------------
<S> <C> <C> <C> <C> <C>
SBC560 800200867 06/01/99 10.250 255,000.00 N
SBC560 800200917 06/01/99 12.125 360,000.00 Y
SBC560 800200941 12/01/97 11.250 75,000.00 Y
SBC560 800201246 06/01/99 10.500 220,000.00 Y
SBC560 800201717 06/01/99 9.875 100,000.00 Y
SBC560 800203366 06/01/99 10.000 150,000.00 Y
SBC560 800204075 06/01/99 8.875 87,500.00 Y
SBC560 800204158 06/01/99 11.250 150,000.00 Y
SBC560 800205239 12/01/97 10.875 129,000.00 Y
SBC560 800205411 05/20/99 9.750 170,000.00 Y
SBC560 800206179 07/01/99 12.875 130,000.00 Y
SBC560 800206187 06/01/99 10.000 250,000.00 Y
SBC560 800206435 06/01/99 10.125 82,500.00 Y
SBC560 800207235 07/01/99 12.375 160,000.00 Y
SBC560 800207383 07/01/99 10.000 134,000.00 Y
SBC560 800207656 01/01/98 10.125 152,000.00 Y
SBC560 800209066 06/01/99 11.000 70,000.00 Y
SBC560 800209561 12/01/97 9.750 86,000.00 Y
SBC560 800210643 06/01/99 12.250 225,000.00 Y
SBC560 800211567 07/01/99 12.250 55,000.00 Y
SBC560 800212631 05/01/99 12.250 144,000.00 Y
SBC560 800212854 07/01/99 12.375 200,000.00 Y
SBC560 800214520 07/01/99 11.250 135,000.00 Y
SBC560 800215170 12/01/97 10.125 122,000.00 Y
SBC560 800216079 07/01/99 10.625 250,000.00 Y
SBC560 800216459 07/01/99 11.500 235,000.00 Y
SBC560 800216624 01/01/98 9.875 221,000.00 Y
SBC560 800217077 01/01/98 10.375 111,000.00 Y
SBC560 800217085 07/01/99 11.250 89,000.00 Y
SBC560 800217754 07/01/99 11.125 70,000.00 Y
SBC560 800218141 12/01/97 11.125 165,000.00 Y
SBC560 800219552 07/01/99 8.875 65,000.00 N
SBC560 800220592 07/01/99 11.125 178,950.00 Y
SBC560 800220774 07/01/99 11.125 82,000.00 Y
SBC560 800222309 07/01/99 10.000 160,000.00 Y
SBC560 800225591 07/01/99 11.125 90,000.00 Y
SBC560 800225922 06/01/99 11.625 117,000.00 Y
SBC560 800227290 07/01/99 11.250 230,000.00 Y
SBC560 800227654 07/01/99 12.875 54,500.00 Y
SBC560 800229593 07/01/99 10.875 100,000.00 Y
SBC560 800230633 01/01/98 9.875 92,500.00 Y
SBC560 800231177 07/01/99 12.875 180,000.00 Y
SBC560 800236689 06/01/99 12.750 283,000.00 Y
----------- -------------------------
102 10.706 18,116,815.00
164 10.724 27,077,105.00
164 10.724 27,077,105.00
</TABLE>
<PAGE>
Page 1 6/30/97
Alliance Funding Company
A division of Superior Bank FSB
SALE SCHEDULE
1997-2 CLASS 1 - 1ST SUBSEQUENT TRANSFER OF FIXED RATE MORTGAGES -
SETTLEMENT 6/30/97
<TABLE>
<CAPTION>
Originations Zip
Sale ID Account Name Address City State Code
- ---------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C>
401 6139204 HUPFAUER DONALD J 3306 SANGAMON STREET STEGER IL 60475
401 6139586 PHILLIPS DAVID P 3316 CAPITOL SKOKIE IL 60076
401 6144707 DARGAN ARLENE E 305 WANDER WAY LAKE IN THE HILLS IL 60102
401 6145513 JOHNSON DONALD G 507 OSAGE GREENFIELD IN 46140
401 6145600 ZAGORSKI DAVID 8800 OAKWOOD AVENUE MUNSTER IN 46321
401 6146329 SLOCUM ANDRE S 1914 DENISE DRIVE COLUMBUS OH 43229
401 6146593 PARK BENJAMIN M 1303 CANTONDALE LANE MISHAWAKA IN 46544
401 6146600 BUCK RITA M 9999 N COUNTY RD 850W DALEVILLE IN 47334
401 6146696 KELLY JERRY P 409 E COLUMBIA AVE GREENSBURG KY 42743
401 6147253 VALPATIC LARRY J 5 W BEAM ST PORTER IN 46304
401 6147707 JOHANDES E DANIEL 5232 WEST 137TH PLACE CRESTWOOD IL 60445
401 6147784 LYNN ALAN S 13065 WOODVILLE ROAD KEVIL KY 42053
401 6147875 BROMLEY GREGORY B 1914 WHISPERING TRIAL UNION KY 41091
401 6148220 BARNES H EDWARD 821 SOUTH SECOND STREET MAYFIELD KY 42066
401 6148897 CLOUSER JOSEPH 1118 NORTH ELEVENTH STREET ELWOOD IN 46036
----------------------------------
15 Sale Total
</TABLE>
<TABLE>
<CAPTION>
Principal Cut-off Date First Original Current Scheduled
Balance at Principal Payment Maturity Rem Date LTV Mortgage Payment
Sale ID Account Origination Balance Date Date Term Due Ratio Rate Int & Prin
- -----------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
401 6139204 27,500.00 27,039.94 03/01/97 11/20/10 161.35 07/22/97 81.2 11.550 306.74
401 6139586 18,400.00 18,233.39 03/01/97 01/14/12 175.20 07/24/97 89.9 12.150 205.46
401 6144707 36,800.00 36,800.00 08/01/97 06/15/12 180.13 08/01/97 26.6 10.775 381.25
401 6145513 77,300.00 77,300.00 08/01/97 06/03/22 300.13 08/01/97 84.9 13.375 824.92
401 6145600 86,400.00 86,400.00 07/01/97 05/09/17 239.15 07/01/97 86.4 11.775 865.60
401 6146329 64,000.00 64,000.00 08/01/97 06/09/17 240.13 08/01/97 69.1 9.380 546.00
401 6146593 19,400.00 19,400.00 07/01/97 05/22/07 119.15 07/01/97 73.0 14.375 282.04
401 6146600 90,600.00 90,455.52 07/01/97 05/13/14 203.15 07/29/97 69.6 10.775 895.41
401 6146696 46,500.00 46,500.00 08/01/97 06/19/09 144.13 08/01/97 75.0 10.525 525.98
401 6147253 64,500.00 64,500.00 07/01/97 05/12/15 215.15 07/01/97 80.6 12.525 695.17
401 6147707 116,000.00 116,000.00 07/01/97 05/09/17 239.15 07/01/97 80.0 13.875 1,321.71
401 6147784 14,500.00 14,500.00 08/01/97 06/22/07 120.13 08/01/97 30.2 10.525 180.76
401 6147875 45,200.00 45,200.00 08/01/97 06/22/07 120.13 08/01/97 78.5 11.275 581.14
401 6148220 43,900.00 43,900.00 08/01/97 06/22/07 120.13 08/01/97 87.8 11.775 576.02
401 6148897 20,500.00 20,500.00 08/01/97 06/22/07 120.13 08/01/97 75.7 13.020 282.71
---------------------------- -------- -----------------------------
771,500.00 770,728.85 204.14 75.7 11.922 8,470.91
</TABLE>
<PAGE>
Page 2 6/30/97
Alliance Funding Company
A division of Superior Bank FSB
SALE SCHEDULE
1997-2 CLASS 1 - 1ST SUBSEQUENT TRANSFER OF FIXED RATE MORTGAGES -
SETTLEMENT 6/30/97
<TABLE>
<CAPTION>
Originations Zip
Sale ID Account Name Address City State Code
- ---------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C>
405 6144710 JACKSON VERNA M 10022 S LOWE AVE CHICAGO IL 60628
405 6146604 MILISITS JEAN E 3361 LENOX DR KETTERING OH 45429
405 6146785 RIDDLEBARGER ERNIE W 1922 VALLEY STREET PORTSMOUTH OH 45662
405 6147189 HOUNSHELL LISA L 121 RIVER RD SHELBYVILLE IN 46176
405 6147690 SMITHER NOEL FREDRICK 2409 REIMS ROAD LEXINGTON KY 40504
405 6147703 MILLS TIMOTHY J 3504 SADDLEBROOK DRIVE TAYLOR MILL KY 41015
405 6147779 CARPENTER MAURICE 10127 S EBERHART AVE CHICAGO IL 60628
405 6147782 JEFFCOAT JORDAN L 207 EDGEMONT DRIVE HOPKINSVILLE KY 42240
405 6148042 DINGER BRENT 502 GLENDALE BLVD MANSFIELD OH 44907
405 6148116 KOONTZ JANET 18338 OAKLEY LANSING IL 60438
405 6148402 BRUBAKER GARY L 15 BORDEAUX DRIVE NAPOLEON OH 43545
405 6148496 GOLDEN MARY L 55175 BELAIR STREET OSCEOLA IN 46561
405 6148903 WEST RONALD E 209 MAPLE WAY WASHINGTON COURT HSE OH 43160
----------------------------------
13 Sale Total
</TABLE>
<TABLE>
<CAPTION>
Principal Cut-off Date First Original Current Scheduled
Balance at Principal Payment Maturity Rem Date LTV Mortgage Payment
Sale ID Account Origination Balance Date Date Term Due Ratio Rate Int & Prin
- -----------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
405 6144710 52,200.00 52,200.00 08/01/97 06/18/10 156.13 08/01/97 90.0 11.600 599.34
405 6146604 23,800.00 23,800.00 08/01/97 06/22/07 120.13 08/01/97 41.7 11.425 307.88
405 6146785 34,200.00 34,200.00 08/01/97 06/20/08 132.13 08/01/97 90.0 11.525 422.89
405 6147189 23,300.00 23,300.00 08/01/97 06/22/07 120.13 08/01/97 89.9 12.925 320.12
405 6147690 40,600.00 40,600.00 08/01/97 06/10/16 228.13 08/01/97 57.1 10.525 380.65
405 6147703 19,200.00 19,200.00 08/01/97 06/15/12 180.13 08/01/97 89.5 12.275 215.82
405 6147779 88,200.00 88,200.00 08/01/97 06/15/12 180.13 08/01/97 90.0 11.350 943.21
405 6147782 17,700.00 17,700.00 07/01/97 05/10/16 227.15 07/01/97 73.7 13.025 193.86
405 6148042 62,600.00 62,600.00 08/01/97 06/13/14 204.13 08/01/97 79.2 10.525 609.37
405 6148116 27,500.00 27,500.00 08/01/97 06/15/12 180.13 08/01/97 89.7 12.275 309.12
405 6148402 12,400.00 12,400.00 08/01/97 06/28/02 60.13 08/01/97 71.7 11.275 250.37
405 6148496 57,400.00 57,400.00 08/01/97 06/10/16 228.13 08/01/97 67.5 10.775 546.96
405 6148903 49,700.00 49,700.00 08/01/97 06/22/07 120.13 08/01/97 53.4 10.275 613.16
---------------------------- -------- -----------------------------
508,800.00 508,800.00 173.94 76.6 11.267 5,712.75
</TABLE>
<PAGE>
Page 3 6/30/97
Alliance Funding Company
A division of Superior Bank FSB
SALE SCHEDULE
1997-2 CLASS 1 - 1ST SUBSEQUENT TRANSFER OF FIXED RATE MORTGAGES -
SETTLEMENT 6/30/97
<TABLE>
<CAPTION>
Originations Zip
Sale ID Account Name Address City State Code
- ---------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C>
SB66 6102612 MOSKALETS YURIY 4815 MERLE COURT SACRAMENTO CA 95841
SB66 6120268 MOORE JESSE J 9311 WARD DETROIT MI 48228
SB66 6123360 DAVIS LAWRENCE E 13525 INDIANA DETROIT MI 48238
SB66 6132903 BASS JERRY L 103 ERIK DRIVE DUDLEY NC 28333
SB66 6136762 SMITH ISABELL 500 S. 14TH STREET TERRE HAUTE IN 47807
SB66 6143133 COLLINS SAMUEL 1257 CHADWICK COURT MODESTO CA 95350
SB66 6144359 EVANS RONALD M 5455 W POTOMAC CHICAGO IL 60651
SB66 6144515 WEAVER EVA MARIE 537 EAST 10600 SOUTH SANDY UT 84070
SB66 6144521 DUNN HAROLD JR 5330 NORWALDO INDIANAPOLIS IN 46220
SB66 6145456 MOSCHETTI ROBERT II 616 NORTH 2300 WEST TREMONTON UT 84337
SB66 6146394 CHUBB DAVID 445 RIVER ROAD EUGENE OR 97404
SB66 6146457 PEREZ EDMUNDO MAURICIO 17046 NORTH 31ST AVENUE PHOENIX AZ 85023
SB66 6146465 SOWARD ROGER WILLIAM 8218 EHLERBROOK ROAD INDIANAPOLIS IN 46237
SB66 6146634 SHURTZ MICHAEL 330 NORTH BULLOCH PLACE CEDAR CITY UT 84720
SB66 6146684 FONICK THELMA C 38214 WILSON AVENUE WILLOUGHBY OH 44094
SB66 6146983 KNUDSON HOLLY 1522 EAST MILITARY WAY SALT LAKE CITY UT 84103
SB66 6147214 ZYCK JOHN J III 4415 LANGLEY PLACE NE LACEY WA 98516
SB66 6147260 REED RONALD J 550 N SCHOOL ST BRAIDWOOD IL 60408
SB66 6147279 WONGNGAMNIT BRANDON 2522 N LAFAYETTE EVANSVILLE IN 47711
SB66 6147295 PRANEETPOLGR PREECHA 1935 SPRING STREET MEDFORD OR 97504
SB66 6147327 SMITH LARRY L 20354 NORTH 106TH LANE PEORIA AZ 85382
SB66 6147374 CURTIS KEITH 9130 OWYHEE DRIVE NAMPA ID 83686
SB66 6147423 JONES JARRY LEE 6629 SOUTH LAFLIN AVENUE CHICAGO IL 60636
SB66 6147565 MEANS M SHAWN 3305 SE OLSEN STREET MILWAUKIE OR 97222
SB66 6147584 GUMAER DONALD W 909 EAST CLINTON STREET JOLIET IL 60432
SB66 6147649 WOODBRIDGE JAMES 3238 WEST PARADE CIRCLE COLORADO SPRINGS CO 80917
SB66 6147657 AIKEN JOSEPH D JR 4850 MARABOU WAY COLORADO SPRINGS CO 80911
SB66 6147672 KILGORE DANIEL G 2920 N NORDIC VALLEY DRIVE LIBERTY UT 84310
SB66 6147772 JOHNSON STANLEY G 1208 FRANKLIN ROCK FALLS IL 61071
SB66 6147777 MORGAN HERBERT R 14527 CLINTON STREET HARVEY IL 60426
SB66 6147821 BOYETTE HUBERTUS J 2906 TIMBERLINE DRIVE EUGENE OR 97401
SB66 6147824 NESSMITH WESLEY R 11233 N 36TH STREET PHOENIX AZ 85028
SB66 6147878 HAYDEN KENNETH W 9681 HIGHWAY 44 EAST MOUNT WASHINGTON KY 40047
SB66 6147983 REED ROYCE LEE JR 491 LELAND AVENUE SAN JOSE CA 95128
SB66 6147992 WALLACE FREDERICK L 3233 COLGATE AVENUE SANTA CLARA CA 95051
SB66 6148018 WRONOSKY THOMAS 688 FALLING LEAF DRIVE LILBURN GA 30247
SB66 6148070 KINGSLAND JULIE E 3615 N 8TH AVENUE PHOENIX AZ 85013
SB66 6148103 BUTLER STEPHEN WALTER 2137 SE 181ST AVENUE PORTLAND OR 97233
SB66 6148173 HENDERSON LEO D 847 SOUTH 300 WEST OREM UT 84058
SB66 6148175 DEPPERT THOMAS M 660 EAST 350 SOUTH BRIGHAM CITY UT 84302
SB66 6148179 CASAL DONALD S 908 1ST CREEK ROAD CHELAN WA 98816
SB66 6148185 STEIN INGE 9039 STARGAZE AVENUE SAN DIEGO CA 92129
SB66 6148206 DECALUWE PETER J 516 WEST DIVISION STREET MUNDELEIN IL 60060
SB66 6148212 KUTZER MARK A 28357 CENTURY COURT NW ISANTI MN 55040
SB66 6148252 PARKS MICHAEL C 1541 ROUGHRIDER CIRCLE HENDERSON NV 89014
SB66 6148293 KAUFMAN ROBERT L 3610 RAY NASH DRIVE NW GIG HARBOR WA 98335
SB66 6148308 MARSHALL LARRY J 12469 BROOKGLEN DRIVE SARATOGA CA 95070
SB66 6148314 THOMPSON BRUCE A JR 229 SOUTH 900 EAST SPANISH FORK UT 84660
SB66 6148381 ADAMSON CODY K 361 WEST 1600 NORTH OREM UT 84057
SB66 6148391 HELTSLEYSR DARRELL 4115 SOUTH MAPLE AVENUE STICKNEY IL 60402
SB66 6148418 CLARK PETER B 10025 WEST 29TH AVENUE LAKEWOOD CO 80215
SB66 6148546 NORTON ROBERT T 1501 ROSEMONT DRIVE COLORADO SPRINGS CO 80911
SB66 6148560 SKIDMORE EDWARD K 1953 WEST WESCOTT DRIVE PHOENIX AZ 85027
SB66 6148576 HUDKINS SONNY 793 S. LAKEVIEW DRIVE LOWELL IN 46356
SB66 6148639 WELCH AMPARO 2924 N SCHEVENE BOULEVARD FLAGSTAFF AZ 86004
SB66 6148645 TREVINO VIDAL 1092 WHEELING STREET AURORA CO 80011
SB66 6148647 SYKORA JERRY W 29799 US HIGHWAY 40 GOLDEN CO 80401
SB66 6148658 JENSEN DOUGLAS 1604 39TH STREET EVANS CO 80620
SB66 6148710 HOWELL RALPH G 10054 LOS RANCHITOS ROAD LAKESIDE CA 92040
SB66 6148716 ERWIN JAMES GARY 3450 PORTER STREET ENUMCLAW WA 98022
SB66 6148745 LEMING SUSAN 5626 W CULLOM CHICAGO IL 60634
SB66 6148770 DAVIS GALEN S 11682 SOUTH BRISBANE DRIVE SANDY UT 84094
SB66 6148779 HIGGS ROBERT 1176 WEST 1640 NORTH CLINTON UT 84015
SB66 6148837 NOWFEL BRIAN J 1391 WEST DRY CREEK ROAD LITTLETON CO 80120
</TABLE>
<TABLE>
<CAPTION>
Principal Cut-off Date First Original Current Scheduled
Balance at Principal Payment Maturity Rem Date LTV Mortgage Payment
Sale ID Account Origination Balance Date Date Term Due Ratio Rate Int & Prin
- -----------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
SB66 6102612 20,250.00 19,545.01 04/05/96 03/05/11 164.25 07/05/97 81.9 11.740 239.66
SB66 6120268 22,800.00 22,556.93 09/01/96 08/01/16 229.15 07/01/97 60.0 11.350 240.79
SB66 6123360 37,400.00 36,177.96 08/22/96 07/22/11 168.82 07/22/97 85.0 9.750 396.20
SB66 6132903 48,450.00 47,839.97 11/17/96 10/17/16 231.68 06/17/97 85.0 11.350 511.69
SB66 6136762 38,000.00 37,856.13 12/15/96 11/15/26 352.64 07/15/97 80.0 13.000 420.36
SB66 6143133 25,000.00 24,867.49 05/23/97 04/23/12 177.86 07/23/97 89.8 11.950 299.24
SB66 6144359 108,800.00 108,764.62 05/01/97 04/01/12 177.14 07/01/97 80.0 14.600 1,340.98
SB66 6144515 37,000.00 37,000.00 07/01/97 06/01/12 179.15 07/01/97 83.8 13.600 482.84
SB66 6144521 16,500.00 16,500.00 07/11/97 06/11/12 179.47 07/11/97 23.5 13.490 214.11
SB66 6145456 29,400.00 29,335.82 05/01/97 04/01/12 177.14 07/01/97 89.8 12.750 319.49
SB66 6146394 42,445.00 42,445.00 07/01/97 06/01/12 179.15 07/01/97 72.3 11.500 495.84
SB66 6146457 26,874.00 26,874.00 07/01/97 06/01/12 179.15 07/01/97 90.0 13.000 340.03
SB66 6146465 11,950.00 11,950.00 08/01/97 07/01/12 180.13 08/01/97 84.4 12.750 149.24
SB66 6146634 21,000.00 21,000.00 06/01/97 05/01/12 178.13 07/01/97 90.0 12.850 229.84
SB66 6146684 35,000.00 34,983.23 07/01/97 06/01/17 239.15 08/01/97 52.0 10.550 350.61
SB66 6146983 245,000.00 245,000.00 06/20/97 05/20/12 178.75 07/20/97 84.7 13.450 2,796.62
SB66 6147214 24,000.00 24,000.00 07/01/97 06/01/12 179.15 07/01/97 84.5 12.500 295.81
SB66 6147260 43,100.00 43,100.00 07/02/97 06/02/12 179.18 07/02/97 89.9 12.050 444.99
SB66 6147279 52,400.00 52,400.00 07/04/97 06/04/27 359.24 07/04/97 79.8 13.250 589.91
SB66 6147295 22,500.00 22,500.00 08/01/97 07/01/12 180.13 08/01/97 83.2 13.000 248.89
SB66 6147327 14,497.00 14,480.99 06/19/97 05/19/12 178.72 07/19/97 85.0 13.800 169.48
SB66 6147374 13,350.00 13,350.00 08/01/97 07/01/12 180.13 08/01/97 89.9 12.300 140.41
SB66 6147423 38,100.00 38,100.00 07/01/97 06/01/17 239.15 07/01/97 59.5 12.000 419.51
SB66 6147565 11,301.00 11,301.00 08/01/97 07/01/12 180.13 08/01/97 80.6 14.500 154.32
SB66 6147584 25,000.00 25,000.00 07/02/97 06/02/17 239.18 07/02/97 59.5 12.000 275.27
SB66 6147649 139,400.00 139,400.00 08/01/97 07/01/27 360.13 08/01/97 85.0 12.650 1,504.00
SB66 6147657 34,262.00 34,262.00 08/01/97 07/01/12 180.13 08/01/97 89.8 11.800 406.80
SB66 6147672 74,492.00 74,492.00 08/01/97 07/01/17 240.13 08/01/97 85.0 13.000 872.73
SB66 6147772 50,000.00 49,868.82 07/02/97 06/02/12 179.18 08/02/97 80.0 11.250 485.63
SB66 6147777 18,500.00 18,500.00 07/10/97 06/10/12 179.44 07/10/97 84.3 11.550 183.91
SB66 6147821 43,113.00 42,950.74 07/01/97 06/01/12 179.15 08/01/97 85.0 12.500 531.38
SB66 6147824 13,864.00 13,864.00 06/21/97 05/21/12 178.78 06/21/97 84.8 13.200 177.24
SB66 6147878 56,500.00 56,500.00 08/01/97 06/12/15 216.13 08/01/97 68.9 9.400 501.44
SB66 6147983 56,500.00 56,500.00 07/01/97 06/01/12 179.15 07/01/97 84.7 13.800 660.52
SB66 6147992 71,500.00 71,500.00 07/01/97 06/01/17 239.15 07/01/97 89.9 12.250 799.78
SB66 6148018 13,600.00 13,600.00 08/01/97 07/01/12 180.13 08/01/97 84.6 13.000 172.07
SB66 6148070 40,000.00 40,000.00 07/01/97 06/01/12 179.15 07/01/97 54.4 13.150 447.17
SB66 6148103 46,694.00 46,694.00 07/01/97 06/01/12 179.15 07/01/97 79.5 11.000 530.72
SB66 6148173 47,500.00 47,500.00 08/01/97 07/01/12 180.13 08/01/97 89.5 11.800 481.29
SB66 6148175 30,766.00 30,766.00 08/01/97 07/01/12 180.13 08/01/97 89.9 11.550 360.38
SB66 6148179 32,800.00 32,800.00 08/01/97 07/01/12 180.13 08/01/97 74.9 11.500 324.82
SB66 6148185 43,100.00 43,100.00 08/01/97 07/01/12 180.13 08/01/97 89.9 11.900 440.02
SB66 6148206 14,800.00 14,800.00 06/15/97 05/15/12 178.59 06/15/97 89.9 11.900 151.10
SB66 6148212 16,500.00 16,500.00 07/06/97 06/06/12 179.31 07/06/97 43.5 11.500 163.40
SB66 6148252 35,505.00 35,505.00 08/01/97 07/01/17 240.13 08/01/97 88.8 12.300 398.39
SB66 6148293 25,500.00 25,500.00 08/01/97 07/01/12 180.13 08/01/97 90.0 12.300 268.20
SB66 6148308 89,000.00 89,000.00 08/01/97 07/01/12 180.13 08/01/97 69.9 10.550 817.45
SB66 6148314 25,728.00 25,728.00 08/01/97 07/01/12 180.13 08/01/97 85.0 12.400 315.43
SB66 6148381 16,400.00 16,296.03 07/01/97 06/01/12 179.15 08/01/97 89.9 12.750 178.22
SB66 6148391 55,600.00 55,600.00 07/01/97 06/01/17 239.15 07/01/97 89.9 12.050 614.14
SB66 6148418 40,000.00 40,000.00 08/01/97 07/01/12 180.13 08/01/97 62.2 11.000 454.64
SB66 6148546 28,000.00 28,000.00 08/01/97 07/01/12 180.13 08/01/97 81.9 10.550 310.38
SB66 6148560 76,000.00 76,000.00 08/01/97 07/01/27 360.13 08/01/97 80.0 11.000 723.77
SB66 6148576 87,700.00 87,700.00 07/06/97 06/06/27 359.31 07/06/97 74.9 12.850 959.87
SB66 6148639 20,650.00 20,650.00 08/01/97 07/01/12 180.13 08/01/97 84.2 12.500 254.52
SB66 6148645 15,000.00 15,000.00 08/01/97 07/01/12 180.13 08/01/97 86.4 11.550 175.71
SB66 6148647 45,796.00 45,796.00 08/01/97 07/01/12 180.13 08/01/97 89.6 12.050 551.10
SB66 6148658 23,000.00 23,000.00 07/01/97 06/01/12 179.15 07/01/97 78.9 12.500 245.47
SB66 6148710 30,000.00 30,000.00 08/01/97 07/01/17 240.13 08/01/97 73.3 11.000 309.66
SB66 6148716 33,629.00 33,629.00 08/01/97 07/01/12 180.13 08/01/97 89.9 11.800 340.74
SB66 6148745 108,400.00 108,400.00 07/01/97 06/01/17 239.15 07/01/97 89.9 12.800 1,254.58
SB66 6148770 47,300.00 47,300.00 07/01/97 06/01/12 179.15 07/01/97 79.8 12.050 488.36
SB66 6148779 36,900.00 36,900.00 05/01/97 04/01/12 177.14 07/01/97 89.0 12.750 400.99
SB66 6148837 85,000.00 85,000.00 08/01/97 07/01/17 240.13 08/01/97 84.1 12.250 950.78
</TABLE>
<PAGE>
Page 4 6/30/97
Alliance Funding Company
A division of Superior Bank FSB
SALE SCHEDULE
1997-2 CLASS 1 - 1ST SUBSEQUENT TRANSFER OF FIXED RATE MORTGAGES -
SETTLEMENT 6/30/97
<TABLE>
<CAPTION>
Originations Zip
Sale ID Account Name Address City State Code
- ---------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C>
SB66 6148848 NEMMER CRETEE I I 3145 ROLLING WOOD LOOP COLORADO SPRINGS CO 80918
SB66 6148873 BETZING MARTIN H 2960 SHOREHAM CIRCLE COLORADO SPRINGS CO 80906
SB66 6148919 CARSON LEWIS F 721 BUNTING AVENUE FOUNTAIN CO 80817
SB66 6148930 HEMPHILL DWAYNE G 55 RAVENGLASS WAY COLORADO SPRINGS CO 80906
SB66 6148933 BARKER LYNN E 3497 WEST PAWNEE STREET WEST VALLEY CITY UT 84119
SB66 6148936 BEATTY ELIZABETH M 1409 NORTH CHELTON ROAD COLORADO SPRINGS CO 80909
SB66 6148940 BOOTH J 805 KENOSHA DRIVE LARKSPUR CO 80118
SB66 6148956 PALMER KIRTIS L 7771 TERRANCE LANE SE AUMSVILLE OR 97325
SB66 6148970 TODD MICHAEL R 9998 SOUTH ORKNEY CIRCLE SOUTH JORDAN UT 84065
SB66 6148979 NELSON GARY L 5339 W ALBION COURT BOISE ID 83705
SB66 6149071 SUNDQUIST LLOYD 275 SOUTH 200 EAST NEPHI UT 84648
SB66 6149158 FLEETWOOD THOMAS A 3917 EAST JUNE STREET MESA AZ 85205
SB66 6149165 WORKMAN RANDALL 10978 SOUTH SEGOVIA CIRCLE SANDY UT 84094
SB66 6149222 JONES JOANN 2537 NORTHBEND ROAD CINCINNATI OH 45239
SB66 6149269 DEWOLF KAREN M 809 70TH AVENUE SE SALEM OR 97301
SB66 6149274 GREENWELL WALLY 3608-10 EAST BENGAL BOULEV SALT LAKE CITY UT 84121
SB66 6149356 RANDAL MARY M 181 TAMARRON DRIVE COLORADO SPRINGS CO 80919
SB66 6149365 KIRKPATRICK ARDEN K 6410 SOUTH QUAY COURT LITTLETON CO 80123
SB66 6149444 RUSSELL MARK T 1731 EAST WINDSONG DRIVE PHOENIX AZ 85048
SB66 6149455 CHRISTENSEN PAUL W 8247 SOUTH DOVER STREET LITTLETON CO 80123
SB66 6149456 CLEMENT JEAN-PAUL 4101 10TH STREET LOVELAND CO 80537
SB66 6149498 WILLIAMS OSCAR JR 4938 WEST RACE STREET CHICAGO IL 60644
SB66 6149546 MCCARTNEY MARVIN 13934 SOUTH HAWBERRY ROAD DRAPER UT 84020
SB66 6149663 CALDERON-GAU MIGUEL ANGEL 10446 WEST MOSSYWOOD STREE BOISE ID 83709
SB66 6149667 GREER MARK D 2115 EAST RAINBOW POINT DR SALT LAKE CITY UT 84124
SB66 6149682 EWING PAUL 214 WEST 800 NORTH SUNSET UT 84015
SB66 6149707 HERTEL MARK C 3619 MEADOWLAND BOULEVARD COLORADO SPRINGS CO 80918
SB66 6149763 KOSKELLA KAREN L 1480 NORTH 430 EAST OREM UT 84097
SB66 6149780 HAMILTON TODD J 740 NORTH MOLYNEUX DRIVE PRICE UT 84501
SB66 6149903 STEIN SALYE R 469 STEELE STREET DENVER CO 80206
SB66 6149956 WADELL JAMES LEE 7040 GLENCOE STREET COMMERCE CITY CO 80022
SB66 6149964 HANNUKSELA DAVID B 13000 NE 10TH PLACE BELLEVUE WA 98005
SB66 6150054 GLASS JOANNE M 1925 WEST 74TH STREET INDIANAPOLIS IN 46260
SB66 6150166 MEDINA IGNACIO 8560 OGDEN STREET DENVER CO 80229
SB66 6150171 JOHNSON CEDRIC B 2265 KITTRIDGE AVENUE COLORADO SPRINGS CO 80919
SB66 6150178 ARMSTRONG RUSSELL D 4436 SOUTH 300 EAST WASHINGTON TERRACE UT 84405
SB66 6150268 MCDONALD EDWARD D 14792 SOUTH ROSE CREEK LAN RIVERTON UT 84065
----------------------------------
101 Sale Total
</TABLE>
<TABLE>
<CAPTION>
Principal Cut-off Date First Original Current Scheduled
Balance at Principal Payment Maturity Rem Date LTV Mortgage Payment
Sale ID Account Origination Balance Date Date Term Due Ratio Rate Int & Prin
- -----------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
SB66 6148848 57,700.00 57,700.00 08/01/97 07/01/17 240.13 08/01/97 84.3 12.250 645.41
SB66 6148873 73,140.00 73,140.00 08/01/97 07/01/17 240.13 08/01/97 79.8 13.350 875.19
SB66 6148919 53,184.00 53,184.00 08/01/97 07/01/17 240.13 08/01/97 85.0 12.250 594.90
SB66 6148930 48,000.00 48,000.00 08/01/97 07/01/17 240.13 08/01/97 82.6 11.800 521.84
SB66 6148933 76,000.00 75,950.37 05/01/97 04/01/12 177.14 07/01/97 79.6 14.550 933.69
SB66 6148936 51,500.00 51,500.00 08/01/97 07/01/17 240.13 08/01/97 65.6 11.000 531.58
SB66 6148940 44,665.00 44,665.00 08/01/97 07/01/12 180.13 08/01/97 84.9 12.250 468.04
SB66 6148956 16,500.00 16,500.00 08/01/97 07/01/12 180.13 08/01/97 71.2 10.550 151.55
SB66 6148970 14,075.00 14,075.00 08/01/97 07/01/12 180.13 08/01/97 90.0 12.050 145.32
SB66 6148979 14,034.00 14,034.00 08/01/97 07/01/12 180.13 08/01/97 80.0 14.250 189.26
SB66 6149071 42,000.00 42,000.00 08/01/97 07/01/12 180.13 08/01/97 74.6 11.250 407.93
SB66 6149158 85,300.00 85,300.00 08/01/97 07/01/12 180.13 08/01/97 77.7 11.000 812.33
SB66 6149165 32,000.00 32,000.00 07/01/97 06/01/12 179.15 07/01/97 84.1 12.800 400.68
SB66 6149222 113,400.00 113,400.00 06/20/97 05/20/27 358.75 06/20/97 90.0 12.400 1,201.48
SB66 6149269 29,250.00 29,250.00 08/01/97 07/01/12 180.13 08/01/97 78.9 12.500 312.17
SB66 6149274 45,411.00 45,411.00 08/01/97 07/01/12 180.13 08/01/97 89.8 11.550 451.43
SB66 6149356 65,001.00 65,001.00 08/01/97 07/01/17 240.13 08/01/97 84.9 10.400 644.60
SB66 6149365 39,700.00 39,700.00 08/01/97 07/01/12 180.13 08/01/97 83.5 10.800 446.26
SB66 6149444 44,400.00 44,400.00 08/01/97 07/01/17 240.13 08/01/97 89.9 12.050 490.43
SB66 6149455 36,699.00 36,699.00 08/01/97 07/01/12 180.13 08/01/97 84.8 12.250 384.57
SB66 6149456 45,000.00 45,000.00 08/01/97 07/01/12 180.13 08/01/97 75.0 11.400 522.83
SB66 6149498 58,000.00 58,000.00 07/09/97 06/09/17 239.41 07/09/97 65.1 9.420 537.61
SB66 6149546 18,000.00 18,000.00 08/01/97 07/01/12 180.13 08/01/97 87.4 11.800 182.38
SB66 6149663 21,920.00 21,920.00 08/01/97 07/01/12 180.13 08/01/97 84.7 12.250 229.70
SB66 6149667 74,500.00 73,685.69 08/01/97 07/01/12 180.13 09/01/97 79.9 10.300 814.31
SB66 6149682 33,200.00 33,200.00 08/01/97 07/01/12 180.13 08/01/97 72.3 11.000 316.17
SB66 6149707 17,548.00 17,548.00 08/01/97 07/01/12 180.13 08/01/97 88.3 11.550 174.45
SB66 6149763 189,375.00 189,375.00 08/01/97 07/01/12 180.13 08/01/97 73.6 11.750 1,911.57
SB66 6149780 15,379.00 15,379.00 07/04/97 06/04/12 179.24 07/04/97 79.9 15.850 204.95
SB66 6149903 46,130.00 46,130.00 08/01/97 07/01/12 180.13 08/01/97 80.0 13.600 601.99
SB66 6149956 17,000.00 17,000.00 08/01/97 07/01/12 180.13 08/01/97 82.6 12.650 183.41
SB66 6149964 79,460.00 79,460.00 08/01/97 07/01/12 180.13 08/01/97 79.8 11.000 756.72
SB66 6150054 66,100.00 65,909.77 07/01/97 06/01/12 179.15 08/01/97 68.1 10.900 624.50
SB66 6150166 18,000.00 18,000.00 08/01/97 07/01/12 180.13 08/01/97 75.1 10.300 161.97
SB66 6150171 50,460.00 50,460.00 08/01/97 07/01/17 240.13 08/01/97 90.0 11.550 539.86
SB66 6150178 33,047.00 33,047.00 07/01/97 06/01/12 179.15 07/01/97 89.8 13.250 423.58
SB66 6150268 43,900.00 43,900.00 07/05/97 06/05/17 239.28 07/05/97 82.8 13.600 533.20
---------------------------- -------- -----------------------------
4,588,094.00 4,583,453.57 214.92 80.8 12.125 50,100.79
</TABLE>
<PAGE>
Page 5 6/30/97
Alliance Funding Company
A division of Superior Bank FSB
SALE SCHEDULE
1997-2 CLASS 1 - 1ST SUBSEQUENT TRANSFER OF FIXED RATE MORTGAGES -
SETTLEMENT 6/30/97
<TABLE>
<CAPTION>
Originations Zip
Sale ID Account Name Address City State Code
- ---------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C>
SBC67 800038796 WHITTON LYNN S 266 WATER MILL TOWN RD WATER MILL NY 11976
SBC67 800047581 DAVIS RODNEY M 1275 MANOR CIR PELHAM MANOR NY 10803
SBC67 800122830 LAPIERRE PATRICIA E 26 TICE RD GUILDERLAND NY 12203
SBC67 800140709 POLHEMUS MARY L 902 BURNT TAVERN ROAD PT PLEASANT NJ 08742
SBC67 800141814 PICKETTE THOMAS R 3 MANNING ST BURLINGTON MA 01803
SBC67 800146169 CONLEY CHARLES D 6439 NAVARRO ST PITTSBURGH PA 15206
SBC67 800148298 KUTASI LINDA A 5001 8TH AVENUE NORTH ST PETERSBURG FL 33710
SBC67 800150187 WILLIAMS MICHAEL D 14423 226TH ST ROSEDALE NY 11413
SBC67 800151581 FIORICA PETER 151 POUCH TERRACE STATEN ISLAND NY 10305
SBC67 800152571 VOLCHIK ZEEV 34 LONGSTREET RD MANALAPAN NJ 07726
SBC67 800152704 ROBINSON LLOYD N 136 ELMORE AVENUE ENGLEWOOD NJ 07631
SBC67 800161101 SHOOK MICHAEL L 81 WOOLNOUGH AVENUE BATTLE CREEK MI 49017
SBC67 800161879 SHINNS JOHNNY F 92 SCHENCK AVENUE BROOKLYN NY 11207
SBC67 800163255 BECKFORD JOSEPH 229 EDGEWOOD AVE NEW HAVEN CT 06511
SBC67 800163297 BAUER CHARLES J 106 FRANKLIN CHURCH ROAD DILLSBURG PA 17019
SBC67 800163966 WATSON MARY HWY SC 14-57 FURSE ROAD SUMMERTON SC 29148
SBC67 800164030 STALEY LONNIE R 921 S OGONTZ STREET YORK PA 17403
SBC67 800164089 MALUCHNIK DOUGLAS 7 DEER RUN PO BOX 376 BLAIRSTOWN NJ 07825
SBC67 800164337 VAZQUEZ TED C 3206 PERKIOMEN AVE READING PA 19606
SBC67 800164378 SPLINTER CHRISTOPHE P 2109 SECTION 4 PARKER TRAI ALBRIGHTSVILLE PA 18210
SBC67 800165623 SAMPSON FRANKLIN S 6451 YOUNGERS RD BLISS NY 14024
SBC67 800169609 CANIANO ANTHONY D 156 PHEASANT DR BAYVILLE NJ 08721
SBC67 800169658 HINES FRANK B 150 MURPHY MILL ROAD AMERICUS GA 34709
SBC67 800170367 FAGGIANI DOUGLAS J 164 COUNTRY VILLAGE LANE EAST ISLIP NY 11730
SBC67 800171282 STEWART EILEEN 580 PORTERVILLE RD EAST AURORA NY 14052
SBC67 800171605 MACNEIL PAUL 60 DEVONSHIRE ROAD TEWKSBURY MA 01876
SBC67 800174203 VELIU IMBERSON 86 OSWEGO ST STATEN ISLAND NY 10301
SBC67 800174492 IZZO ROBERT G 516 MULBERRY LANE WEST HEMPSTEAD NY 11552
SBC67 800174732 HARRINGTON KEVIN 188 OCEANVIEW AVENUE LONG BEACH NY 11561
SBC67 800174849 AHUJA DEEPAK 259 MARLBOROUGH TERRACE FAIRFIELD CT 06432
SBC67 800176026 CROPPER CALISSA M 19438 METOMPKIN ROAD PARKSLEY VA 23421
SBC67 800180150 STARKEY EVERT R 1907 KUMQUAT DRIVE EDGEWATER FL 32141
SBC67 800181547 SCOTT MICHAEL G 230 HARVARD ST QUINCY MA 02170
SBC67 800182685 LEE DONG KWAN 49-54 175TH PLACE FLUSHING NY 11365
SBC67 800183030 DEATON CLIFFORD R 1405 SOUTHERN AVENUE LAKELAND FL 33803
SBC67 800184384 LEBLANC RICHARD G 5239 6TH AVENUE NORTH SAINT PETERBURG FL 33710
SBC67 800184574 ULISHNEY JOSEPH P 713 EDISON RD DAUPHIN PA 17018
SBC67 800189029 LUTMAN CHARLES K 218 SARDIS ROAD ENKA NC 28728
SBC67 800189532 ZIMPLEMAN DOREEN 441 BEECHWOODS DRIVE LEXINGTON SC 29072
SBC67 800189680 BAILEY JOHN 2751 LANDING AVENUE BELLMORE NY 11710
SBC67 800189771 HARLEY LARRY F 1328 APPLETREE COURT FREDERICK MD 21703
SBC67 800190035 SINGER LINDA LOUISE 1773 EMERALD DRIVE CLEAWATER FL 34616
SBC67 800192056 MAURO RICHARD P 34 CARROLL ST NEWBURGH NY 12550
SBC67 800192650 GALANTE STEVEN 248 MELBA STREET STATEN ISLAND NY 10314
SBC67 800193955 WOODS ANDREW P 1132 BROAD STREET COLLINGDALE PA 19023
SBC67 800194201 OGURCHAK CHARLES F 8 CHRISTIE ROAD NEWBURGH NY 12550
SBC67 800194482 DAVIS WALTON 690 EAST 91ST STREET BROOKLYN NY 11236
SBC67 800194722 WEST KATHRYN B 39 NICHOLS AVENUE SHELTON CT 06484
SBC67 800196180 BIKAKIS FREDERIKA 3180 46TH STREET LONG ISLAND CITY NY 11103
SBC67 800197964 DILORENZO LINDA M 303 NORTH HIGHLAND AVENUE CLEARWATER FL 34615
SBC67 800199382 FRASIER DAVID A 728 LEAFWOOD ROAD CHARLESTON SC 29412
SBC67 800199945 RICHARDS WILLIAM J 234 E MAIN STREET NANTICOKE PA 18634
SBC67 800200479 KEMPA PETER 915 OYSTER BAY RD EAST NORWICH NY 11732
SBC67 800200792 RENTZ ROBERT L 3965 DAVID DRIVE MULBERRY FL 33860
SBC67 800200800 CIANTO LISA ADAMAN 7221 SELLERS AVENUE UPPER DARBY PA 19082
SBC67 800200859 MURPHY CARRIE L 510 40TH AVENUE NORTH SAINT PETERSBURG FL 33703
SBC67 800201428 MARTIN LETITIA 1623 EAST 25TH STREET BALTIMORE MD 21218
SBC67 800201543 MACKEY ROBERT A 3509 SARGEANT DRIVE CHARLOTTE NC 28217
SBC67 800202137 STOFKO KYLE C 714 WASHINGTON AVENUE NORTHAMPTON PA 18067
SBC67 800202707 MCCOURT BRETT 107 NORTH OWENS CIRCLE AUBURNDALE FL 33823
SBC67 800203945 UMHAFER NEIL 27 STONEHEDGE ROAD ROCKVILLE CENTRE NY 11570
SBC67 800204273 GOCEK GEORGE 114 FRANKLIN STREET PLYMOUTH PA 18651
SBC67 800204323 DEBEE CARLENE S 323 OLIVE STREET PITTSBURGH PA 15237
SBC67 800205072 HOLMES LEROY 209 SUPER DRIVE W COLUMBIA SC 29172
</TABLE>
<TABLE>
<CAPTION>
Principal Cut-off Date First Original Current Scheduled
Balance at Principal Payment Maturity Rem Date LTV Mortgage Payment
Sale ID Account Origination Balance Date Date Term Due Ratio Rate Int & Prin
- -----------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
SBC67 800038796 54,000.00 53,452.98 12/14/96 11/14/11 172.60 07/14/97 79.2 12.200 563.78
SBC67 800047581 62,000.00 62,000.00 02/06/97 01/06/12 174.35 06/06/97 79.6 12.100 642.52
SBC67 800122830 117,300.00 117,172.89 05/01/97 04/01/12 177.14 07/01/97 85.0 12.250 1,229.18
SBC67 800140709 27,000.00 27,000.00 06/20/97 05/20/12 178.75 07/20/97 22.5 11.800 273.58
SBC67 800141814 23,700.00 23,609.47 05/02/97 04/02/12 177.17 07/02/97 89.9 12.500 292.11
SBC67 800146169 56,200.00 55,758.75 04/14/97 03/14/12 176.55 07/14/97 76.6 11.150 644.07
SBC67 800148298 50,000.00 49,902.95 04/14/97 03/14/27 356.55 07/14/97 55.5 10.250 448.05
SBC67 800150187 22,600.00 22,503.25 04/20/97 03/20/12 176.75 07/20/97 89.9 12.750 282.24
SBC67 800151581 20,000.00 19,974.70 05/11/97 04/11/12 177.47 07/11/97 61.6 11.000 190.46
SBC67 800152571 33,000.00 33,000.00 06/27/97 05/27/12 178.98 06/27/97 84.2 13.100 367.63
SBC67 800152704 150,000.00 149,792.07 06/21/97 05/21/12 178.78 07/21/97 76.9 11.000 1,428.48
SBC67 800161101 64,000.00 64,000.00 08/01/97 07/01/12 180.13 08/01/97 80.0 10.050 689.71
SBC67 800161879 162,000.00 162,000.00 06/16/97 05/16/27 358.62 07/16/97 90.0 12.750 1,760.44
SBC67 800163255 40,500.00 40,361.69 06/01/97 05/01/12 178.13 07/01/97 90.0 12.600 501.81
SBC67 800163297 21,800.00 21,759.64 06/20/97 05/20/12 178.75 07/20/97 89.9 11.800 258.84
SBC67 800163966 51,000.00 51,000.00 06/16/97 05/16/17 238.62 06/16/97 85.0 12.250 570.47
SBC67 800164030 52,900.00 52,900.00 07/04/97 06/04/12 179.24 07/04/97 89.9 12.050 636.59
SBC67 800164089 80,620.00 80,620.00 05/29/97 04/29/12 178.06 06/29/97 84.9 12.500 860.42
SBC67 800164337 15,437.00 15,305.51 05/25/97 04/25/12 177.93 07/25/97 90.0 12.600 191.27
SBC67 800164378 46,000.00 45,732.61 06/01/97 05/01/12 178.13 08/01/97 80.0 11.500 455.53
SBC67 800165623 87,500.00 87,500.00 07/04/97 06/04/27 359.24 07/04/97 70.0 11.500 866.50
SBC67 800169609 10,000.00 10,000.00 06/06/97 05/06/12 178.29 06/06/97 80.7 13.950 132.84
SBC67 800169658 38,543.00 38,543.00 05/14/97 04/14/17 237.57 06/14/97 84.7 10.550 386.10
SBC67 800170367 24,575.00 24,448.79 05/04/97 04/04/12 177.24 08/04/97 89.9 10.125 217.94
SBC67 800171282 39,600.00 39,600.00 07/06/97 06/06/12 179.31 07/06/97 79.9 13.750 461.38
SBC67 800171605 33,000.00 33,000.00 06/16/97 05/16/17 238.62 06/16/97 89.9 12.700 379.59
SBC67 800174203 159,200.00 159,200.00 06/28/97 05/28/27 359.01 06/28/97 80.0 9.650 1,356.10
SBC67 800174492 120,000.00 120,000.00 07/01/97 06/01/27 359.15 07/01/97 64.8 10.900 1,133.73
SBC67 800174732 26,700.00 26,673.68 06/14/97 05/14/12 178.55 07/14/97 90.0 12.650 331.69
SBC67 800174849 120,000.00 120,000.00 06/27/97 05/27/12 178.98 06/27/97 83.9 11.050 1,147.32
SBC67 800176026 28,500.00 28,500.00 06/09/97 05/09/12 178.39 07/09/97 75.0 13.500 326.44
SBC67 800180150 15,100.00 15,100.00 07/02/97 06/02/07 119.18 07/02/97 85.8 10.500 203.75
SBC67 800181547 26,500.00 26,307.40 07/01/97 06/01/12 179.15 08/01/97 89.9 12.800 331.81
SBC67 800182685 80,000.00 80,000.00 06/14/97 05/14/12 178.55 06/14/97 84.4 13.950 1,062.71
SBC67 800183030 42,300.00 42,300.00 07/10/97 06/10/17 239.44 07/10/97 90.0 12.250 473.15
SBC67 800184384 33,000.00 33,000.00 06/23/97 05/23/12 178.85 06/23/97 58.9 14.300 398.86
SBC67 800184574 38,180.00 38,180.00 06/14/97 05/14/07 118.55 06/14/97 89.9 11.650 540.07
SBC67 800189029 60,000.00 59,911.98 06/14/97 05/14/17 238.55 07/14/97 75.0 12.100 664.84
SBC67 800189532 118,800.00 118,800.00 06/06/97 05/06/27 358.29 06/06/97 90.0 10.550 1,091.15
SBC67 800189680 30,000.00 30,000.00 07/05/97 06/05/12 179.28 07/05/97 89.3 12.300 365.86
SBC67 800189771 18,900.00 18,900.00 06/05/97 05/05/12 178.26 07/05/97 90.0 13.250 242.25
SBC67 800190035 40,000.00 40,000.00 06/02/97 05/02/12 178.16 07/02/97 70.6 13.300 451.88
SBC67 800192056 65,000.00 65,000.00 07/01/97 06/01/12 179.15 07/01/97 74.7 12.200 678.62
SBC67 800192650 30,000.00 30,000.00 06/09/97 05/09/12 178.39 07/09/97 79.7 14.000 399.52
SBC67 800193955 40,000.00 40,000.00 06/21/97 05/21/12 178.78 07/21/97 62.5 10.990 380.63
SBC67 800194201 104,000.00 104,000.00 06/01/97 05/01/12 178.13 06/01/97 80.0 12.990 1,149.63
SBC67 800194482 194,000.00 194,000.00 07/09/97 06/09/12 179.41 07/09/97 80.8 10.900 1,832.86
SBC67 800194722 30,000.00 30,000.00 07/11/97 06/11/12 179.47 07/11/97 65.1 10.800 281.17
SBC67 800196180 30,000.00 29,905.07 06/20/97 05/20/12 178.75 07/20/97 65.2 12.650 323.67
SBC67 800197964 22,000.00 22,000.00 07/10/97 06/10/17 239.44 07/10/97 79.6 13.850 271.18
SBC67 800199382 18,000.00 17,878.83 06/12/97 05/12/07 118.49 07/12/97 88.1 12.850 267.17
SBC67 800199945 20,000.00 20,000.00 07/09/97 06/09/12 179.41 07/09/97 69.9 13.000 253.05
SBC67 800200479 182,750.00 182,750.00 06/28/97 05/28/27 359.01 06/28/97 85.0 10.250 1,637.62
SBC67 800200792 11,300.00 11,300.00 07/12/97 06/12/12 179.51 07/12/97 89.9 12.300 137.81
SBC67 800200800 30,750.00 30,372.55 06/05/97 05/05/12 178.26 08/05/97 89.9 12.850 386.03
SBC67 800200859 45,600.00 45,600.00 06/23/97 05/23/17 238.85 06/23/97 80.0 12.100 505.28
SBC67 800201428 29,400.00 29,400.00 06/13/97 05/13/12 178.52 07/13/97 68.3 12.990 324.99
SBC67 800201543 51,000.00 51,000.00 07/04/97 06/04/12 179.24 07/04/97 85.0 11.950 522.63
SBC67 800202137 45,000.00 45,000.00 07/02/97 06/02/27 359.18 07/02/97 81.8 10.800 421.76
SBC67 800202707 61,600.00 61,600.00 07/03/97 06/03/12 179.21 07/03/97 80.0 13.100 686.24
SBC67 800203945 150,000.00 149,933.67 06/21/97 05/21/12 178.78 07/21/97 80.8 11.650 1,502.63
SBC67 800204273 22,000.00 22,000.00 07/11/97 06/11/07 119.47 07/11/97 85.9 11.650 311.20
SBC67 800204323 14,549.00 14,549.00 07/04/97 06/04/12 179.24 07/04/97 89.9 12.050 175.08
SBC67 800205072 55,250.00 55,250.00 07/10/97 06/10/12 179.44 07/10/97 85.0 9.900 480.78
</TABLE>
<PAGE>
Page 6 6/30/97
Alliance Funding Company
A division of Superior Bank FSB
SALE SCHEDULE
1997-2 CLASS 1 - 1ST SUBSEQUENT TRANSFER OF FIXED RATE MORTGAGES -
SETTLEMENT 6/30/97
<TABLE>
<CAPTION>
Originations Zip
Sale ID Account Name Address City State Code
- ---------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C>
SBC67 800205742 KOWALSKI DANIEL J 223 HIDDEN POND DRIVE WATERTOWN CT 06795
SBC67 800205767 FINKELSTEIN BARRY 125 AUDREY DRIVE LIDO BEACH NY 11561
SBC67 800205957 WHITAKER MILAN M 96 EAGLE TRACE BRIDGEWATER MA 02324
SBC67 800206328 VALDES GUSTAVO R. 8245 SOUTHWEST 39TH STREET MIAMI FL 33155
SBC67 800206492 BOGOSIAN ALLISON 17 HORN ST ORANGEBURG NY 10962
SBC67 800206740 FIRPO KENNETH 428 GRAND STREET BROOKLYN NY 11211
SBC67 800206849 LUBRANO DONALD 6405 BAKER ROAD KEYSTONE HEIGHTS FL 32656
SBC67 800207011 SMITH LANCE A 1339 NE 15TH STREET OCALA FL 34470
SBC67 800207375 HIGGINS BILLY W RR 1 BOX 619 GLEN ROCK PA 17337
SBC67 800208068 BYUS JUDITH L 9340 FRANCES STREET WALDORF MD 20603
SBC67 800208324 CACIO NICHOLAS 184 HARRISON STREET NUTLEY NJ 07110
SBC67 800208563 GODBEE PAUL 1328 MAIN STREET PEEKSKILL NY 10566
SBC67 800208712 DEAN KENNETH D 124 DORSEY LANE DILLSBURG PA 17019
SBC67 800209082 REIFSNYDER RAYMOND L 1684 LAKESIDE TERRACE FORT MYERS FL 33903
SBC67 800209462 ADAMS JO ANNE 133 27 146TH STREET SOUTH OZONE PARK NY 11436
SBC67 800209926 LUBER JAY L 10408 DEEPBROOK DRIVE RIVERVIEW FL 33569
SBC67 800210213 ALIBRANDI FRANK J. 73 EDWIN STREET NORTH QUINCY MA 02171
SBC67 800210502 KOZAK STEPHEN 767 42ND STREET BROOKLYN NY 11232
SBC67 800210593 PEARSON VONDA D 1136 S 60TH STREET PHILADELPHIA PA 19143
SBC67 800211591 DELANEY STEVE W 737 ROCKWOOD DRIVE PITTSBURGH PA 15234
SBC67 800211872 PANASCI STEPHEN S 523 BEARDED OAKS CIRCLE SARASOTA FL 34232
SBC67 800211880 PROCHASKA JOSEPH 317 EAST MAIN STREET PLYMOUTH PA 18651
SBC67 800211997 EDWARDS ERNEST O. 403 ALABAMA AVENUE GOLDSBORO NC 27530
SBC67 800212243 VAN SYCKLE DANIEL P 11 WILTSHIRE AVENUE BATTLE CREEK MI 49015
SBC67 800212359 STARKES THAD RAY 6703 N 4TH STREET PHILADELPHIA PA 19126
SBC67 800215667 KEEBLER CHRISTOPHE 549 PORT INDIAN ROAD NORRISTOWN PA 19403
SBC67 800216244 FLEYSHGAKKER MARIA 3627 BUCKHORN LANE SHRUB OAK NY 10588
SBC67 800216442 STONE SARAH B. 901 AXELWOOD CIRCLE BRANDON FL 33511
SBC67 800217408 WALLOWITCH GREGORY R 419 GILPEN ROAD UPPER DARBY PA 19082
SBC67 800219404 ROGERS DEBORAH A 3021 SE ROOD BRIDGE ROAD HILLSBORO OR 97123
SBC67 800219602 LOMBARDI ALBERT 176 WEBSTER ST EAST BOSTON MA 02128
SBC67 800220600 HOFFMAN CONSTANCE 58 CLARK AVENUE MASSAPEQUA NY 11758
SBC67 800220683 KOLENDA THOMAS J 968 OLD AIRPORT ROAD DOUGLASSVILLE PA 19518
SBC67 800220717 KONDIKOFF DARRYL A 113 WOLF STREET BATH PA 18014
SBC67 800220865 ZUMBA KENNETH 26 GRAND OFFENBACH STREET CENTEREACH NY 11720
SBC67 800221020 HEUERMAN DONALD E 44 SUZANNE LANE BROOKLYN CT 06234
SBC67 800221400 MASON WILLIAM J 3437 74TH STREET NORTH ST PETERSBURG FL 33710
SBC67 800221814 KRAFT KEVIN 17 HAWKINS AVENUE MEDFORD NY 11763
SBC67 800222069 INGERSON DENNIS J 3971 44TH AVENUE NORTH ST PETERSBURG FL 33714
SBC67 800224917 HARRIGER GARY E. 500 ROBIN LAKE DRIVE DUDLEY NC 28333
SBC67 800224990 SORENSEN CHRISTINA J 4009 BOOTH PLACE SARASOTA FL 34231
SBC67 800225039 BYRNE MICHAEL P 26404 JOHNSON DRIVE DAMASCUS MD 20872
SBC67 800225252 DEAN HELEN RUTH 2445 30TH AVENUE NORTH ST PETERSBURG FL 33713
SBC67 800225302 ROSKI ROBERT B. 34130 BROWN BAYOU ZEPHYRHILLS FL 33543
SBC67 800225526 GARDNER WILLIE G 12065 71ST WAY NORTH LARGO FL 33773
SBC67 800225914 ROBBINS TIMOTHY A 983 SITTING WOLF ALBRIGHTSVILLE PA 18210
SBC67 800225963 INGOLD HUBERT HARLEY 4135 PARK DRIVE CARLSBAD CA 92008
SBC67 800226078 TORRACO JULIA 14009 NEWCASTLE AVENUE SPRING HILL FL 34609
SBC67 800226805 FERGUSON OSCAR T 55 LAKE VALHALLA DRIVE EAST STROUDSBURG PA 18301
SBC67 800226870 TINSLEY DOUGLAS DUANE 5955 DIXON DRIVE RALEIGH NC 27609
SBC67 800227118 DAVIS KENNETH W 56 NE 190TH PLACE PORTLAND OR 97230
SBC67 800227522 METZGER KARL 33 LIBERTY STREET MOUNTAIN TOP PA 18707
SBC67 800230047 LLOYD DOLORES 5302 WALNUT STREET PHILADELPHIA PA 19139
SBC67 800231318 ARIAS ALVARO B. 6622 REEF CIRCLE TAMPA FL 33625
SBC67 800236705 TARANTO DENISE 267 MAPLEWOOD SOUTH SALEM NY 10590
SBC67 800241325 REITANO MARIA 42 SPRING HOLLOW ROAD NISSEQUOGUE NY 11780
----------------------------------
120 Sale Total
</TABLE>
<TABLE>
<CAPTION>
Principal Cut-off Date First Original Current Scheduled
Balance at Principal Payment Maturity Rem Date LTV Mortgage Payment
Sale ID Account Origination Balance Date Date Term Due Ratio Rate Int & Prin
- -----------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
SBC67 800205742 21,000.00 21,000.00 07/11/97 06/11/12 179.47 07/11/97 64.7 11.600 209.56
SBC67 800205767 93,000.00 93,000.00 06/27/97 05/27/12 178.98 06/27/97 65.8 13.990 1,101.19
SBC67 800205957 88,850.00 88,850.00 07/03/97 06/03/12 179.21 07/03/97 84.8 13.000 982.86
SBC67 800206328 17,000.00 17,000.00 07/09/97 06/09/12 179.41 07/09/97 71.5 12.100 205.12
SBC67 800206492 22,000.00 22,000.00 07/09/97 06/09/12 179.41 07/09/97 78.7 10.550 243.87
SBC67 800206740 84,000.00 84,000.00 07/02/97 06/02/12 179.18 07/02/97 60.0 12.950 925.93
SBC67 800206849 22,700.00 22,700.00 07/01/97 06/01/07 119.15 07/01/97 79.9 11.800 323.06
SBC67 800207011 42,400.00 42,400.00 07/02/97 06/02/12 179.18 07/02/97 77.0 10.750 475.28
SBC67 800207375 89,250.00 89,250.00 07/01/97 06/01/12 179.15 07/01/97 75.0 12.250 1,085.55
SBC67 800208068 68,000.00 68,000.00 07/09/97 06/09/12 179.41 07/09/97 56.6 10.750 634.77
SBC67 800208324 22,500.00 22,438.43 06/27/97 05/27/12 178.98 07/27/97 89.4 12.500 277.32
SBC67 800208563 100,000.00 100,000.00 06/27/97 05/27/12 178.98 06/27/97 68.0 11.500 990.29
SBC67 800208712 38,500.00 38,459.60 06/21/97 05/21/12 178.78 07/21/97 78.9 12.400 472.02
SBC67 800209082 33,100.00 33,100.00 07/09/97 06/09/12 179.41 07/09/97 89.9 11.800 393.01
SBC67 800209462 50,000.00 50,000.00 07/04/97 06/04/12 179.24 07/04/97 87.6 11.400 580.92
SBC67 800209926 27,500.00 27,500.00 07/02/97 06/02/07 119.18 07/02/97 81.5 10.550 371.84
SBC67 800210213 33,500.00 33,500.00 07/10/97 06/10/12 179.44 07/10/97 74.9 12.500 412.89
SBC67 800210502 100,000.00 100,000.00 06/21/97 05/21/27 358.78 07/21/97 80.0 11.250 971.26
SBC67 800210593 25,094.00 25,094.00 07/09/97 06/09/12 179.41 07/09/97 90.0 12.050 301.98
SBC67 800211591 88,000.00 88,000.00 07/02/97 06/02/12 179.18 07/02/97 78.7 10.800 989.18
SBC67 800211872 16,500.00 16,500.00 07/06/97 06/06/12 179.31 07/06/97 89.8 11.650 194.33
SBC67 800211880 52,000.00 52,000.00 07/04/97 06/04/12 179.24 07/04/97 80.0 9.990 558.48
SBC67 800211997 56,950.00 56,950.00 07/09/97 06/09/17 239.41 07/09/97 85.0 12.250 637.02
SBC67 800212243 45,900.00 45,900.00 07/05/97 06/05/12 179.28 07/05/97 74.0 10.050 494.65
SBC67 800212359 97,750.00 97,750.00 07/03/97 06/03/17 239.21 07/03/97 85.0 11.550 1,045.80
SBC67 800215667 21,687.00 21,687.00 07/04/97 06/04/12 179.24 07/04/97 75.0 11.500 253.35
SBC67 800216244 18,900.00 18,900.00 07/03/97 06/03/12 179.21 07/03/97 89.9 11.800 224.41
SBC67 800216442 10,000.00 10,000.00 07/09/97 06/09/12 179.41 07/09/97 89.9 12.050 120.34
SBC67 800217408 54,100.00 54,100.00 07/04/97 06/04/27 359.24 07/04/97 81.9 11.750 546.09
SBC67 800219404 30,000.00 30,000.00 07/11/97 06/11/12 179.47 07/11/97 81.5 11.550 298.23
SBC67 800219602 24,000.00 24,000.00 07/06/97 06/06/12 179.31 07/06/97 89.7 12.600 297.37
SBC67 800220600 100,000.00 100,000.00 07/12/97 06/12/17 239.51 07/12/97 86.3 11.500 1,066.43
SBC67 800220683 22,100.00 22,100.00 07/09/97 06/09/12 179.41 07/09/97 84.9 12.400 270.95
SBC67 800220717 70,000.00 70,000.00 07/04/97 06/04/12 179.24 07/04/97 77.3 9.650 737.31
SBC67 800220865 12,105.00 12,105.00 07/16/97 06/16/12 179.64 07/16/97 84.9 12.750 151.17
SBC67 800221020 43,500.00 43,500.00 07/02/97 06/02/17 239.18 07/02/97 82.9 12.050 480.49
SBC67 800221400 35,350.00 35,350.00 07/09/97 06/09/27 359.41 07/09/97 70.7 10.650 327.33
SBC67 800221814 89,600.00 89,600.00 07/01/97 06/01/12 179.15 07/01/97 80.0 10.900 846.52
SBC67 800222069 17,100.00 17,100.00 07/04/97 06/04/12 179.24 07/04/97 79.9 12.650 212.43
SBC67 800224917 24,829.00 24,829.00 07/03/97 06/03/17 239.21 07/03/97 85.0 12.350 279.47
SBC67 800224990 12,500.00 12,500.00 07/09/97 06/09/12 179.41 07/09/97 84.0 10.300 136.63
SBC67 800225039 50,000.00 50,000.00 07/04/97 06/04/12 179.24 07/04/97 77.4 11.250 576.17
SBC67 800225252 44,400.00 44,400.00 07/06/97 06/06/17 239.31 07/06/97 82.2 10.050 429.94
SBC67 800225302 47,700.00 47,700.00 07/11/97 06/11/17 239.47 07/11/97 90.0 12.550 543.62
SBC67 800225526 37,750.00 37,750.00 07/06/97 06/06/12 179.31 07/06/97 79.9 10.550 418.46
SBC67 800225914 15,750.00 15,750.00 07/13/97 06/13/12 179.54 07/13/97 89.9 12.050 189.53
SBC67 800225963 50,000.00 50,000.00 07/09/97 06/09/17 239.41 07/09/97 85.0 12.500 568.07
SBC67 800226078 79,100.00 79,100.00 07/09/97 06/09/12 179.41 07/09/97 60.8 10.250 708.82
SBC67 800226805 15,000.00 15,000.00 07/16/97 06/16/12 179.64 07/16/97 84.3 10.800 168.61
SBC67 800226870 24,940.00 24,940.00 07/16/97 06/16/07 119.64 07/16/97 57.2 10.600 337.93
SBC67 800227118 48,500.00 48,500.00 07/09/97 06/09/12 179.41 07/09/97 70.3 10.150 525.64
SBC67 800227522 50,000.00 50,000.00 07/09/97 06/09/27 359.41 07/09/97 75.7 10.300 449.91
SBC67 800230047 42,000.00 42,000.00 07/11/97 06/11/12 179.47 07/11/97 79.2 13.750 552.29
SBC67 800231318 28,650.00 28,650.00 07/13/97 06/13/12 179.54 07/13/97 89.9 12.050 344.77
SBC67 800236705 45,000.00 45,000.00 07/13/97 06/13/12 179.54 07/13/97 69.3 10.850 423.45
SBC67 800241325 480,000.00 480,000.00 07/06/97 06/06/12 179.31 07/06/97 80.0 13.450 5,479.10
---------------------------- -------- -----------------------------
6,572,709.00 6,569,303.51 216.15 79.3 11.777 70,625.70
</TABLE>
<PAGE>
Page 7 6/30/97
Alliance Funding Company
A division of Superior Bank FSB
SALE SCHEDULE
1997-2 CLASS 1 - 1ST SUBSEQUENT TRANSFER OF FIXED RATE MORTGAGES -
SETTLEMENT 6/30/97
<TABLE>
<CAPTION>
Originations Zip
Sale ID Account Name Address City State Code
- ---------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C>
SBCL18 6141558 HAYES EDWARD D 359 SOUTH NEGLEY AVENUE PITTSBURGH PA 15232
SBCL18 6147281 KUBUROVIC ZORAN 2535 CRUGER AVENUE BRONX NY 10467
SBCL18 6147446 STEWART ELAINE 377 EAST 152ND STREET BRONX NY 10455
----------------------------------
3 Sale Total
252 Total with Superior
252 Grand Total
</TABLE>
<TABLE>
<CAPTION>
Principal Cut-off Date First Original Current Scheduled
Balance at Principal Payment Maturity Rem Date LTV Mortgage Payment
Sale ID Account Origination Balance Date Date Term Due Ratio Rate Int & Prin
- -----------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
SBCL18 6141558 90,000.00 89,929.06 05/01/97 04/01/12 177.14 07/01/97 49.4 13.700 1,062.77
SBCL18 6147281 455,000.00 455,000.00 07/01/97 06/01/12 179.15 07/01/97 65.0 11.100 5,200.12
SBCL18 6147446 107,000.00 107,000.00 06/01/97 05/01/12 178.13 06/01/97 64.8 12.300 1,304.90
---------------------------- -------- -----------------------------
652,000.00 651,929.06 178.71 62.8 11.656 7,567.79
13,093,103.00 13,084,214.99 211.50 78.7 11.881 142,477.94
13,093,103.00 13,084,214.99 211.50 78.7 11.881 142,477.94
</TABLE>
