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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) December 22 1997
SUPERIOR BANK FSB (as depositor under the Pooling and Servicing Agreement, dated
as of December 1, 1997, providing for the issuance of AFC Mortgage Loan Asset
Backed Certificates, Series 1997-4)
SUPERIOR BANK FSB
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(Exact name of registrant as specified in its charter)
United States 333-39199 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, Group 1 and Group 2
On December 22, 1997 a single series of certificates, entitled AFC Mortgage
Loan Asset Backed Certificates, Series 1997-4 (the "Certificates") were issued
pursuant to a pooling and servicing agreement (the "Agreement") attached hereto
as Exhibit 4.1, dated as of December 1, 1997, among Superior Bank FSB, as
depositor (the "Depositor") and as servicer (the "Servicer") and LaSalle
National Bank, as trustee (the "Trustee"). The Certificates consist of five
classes identified as Class 1A-1, Class 1A-2 (collectively, the "Class 1A
Certificates"), Class 2A-1, Class 2A-2 (collectively, 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 Group 1 and Group 2 (the "Trust Fund"), consisting primarily
of first and second liens on single-family properties, multifamily properties,
commercial properties and mixed residential and commercial structures (the
"Mortgage Loans") with an aggregate principal balance of $191,094,337.14 as of
December 1, 1997 (the "Cut-off Date") and an aggregate amount of $21,113,030.52
deposited on the Closing Date in the Sub-Pool I Pre-Funding Account, an
aggregate amount of $39,884,562.11 deposited on the Closing Date in the Sub-Pool
II Pre-Funding Account, an aggregate amount of $22,076,960.54 deposited on the
Closing Date in the Sub-Pool III Pre-Funding Account and an aggregate amount of
$39,884,006.19 deposited on the Closing Date in the Sub-Pool IV 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 December 12, 1997
among the Depositor, Merrill and J.P. Morgan.
The Class A Certificates evidence, in the aggregate, $308,000,000 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 outstanding Class 1A-2 Principal Balance at
a variable pass-through rate. The Class 2A-1 Certificates will be entitled to
payments of interest accrued on the outstanding Class 2A-1 Principal Balance at
a variable pass-through rate. The Class 2A-2 Certificates will be entitled to
payments of interest accrued on the outstanding Class 2A-2 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
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Cross-over Date, Excess Spread received by the Servicer. The Certificate
Insurance Policy will irrevocably and unconditionally guaranty payment on each
Remittance Date to the Holders of the Class A Certificates of the related Class
A Remittance Amount. If the related Remittance Date is prior to the Cross-Over
Date with respect to a particular Group, 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 Group will then be applied to cover any Available
Funds Shortfall with respect to the other Group. Capitalized terms used in the
second paragraph hereof and not otherwise defined shall have the meanings
assigned to them in the Agreement.
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 December 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.
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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: December 22, 1997
EXECUTION COPY
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POOLING AND SERVICING AGREEMENT
Dated as of December 1, 1997
LASALLE NATIONAL BANK
(Trustee)
and
SUPERIOR BANK FSB
(Depositor and Servicer)
AFC Mortgage Loan Asset Backed
Certificates, Series 1997-4
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ARTICLE I
DEFINITIONS..................................................................................................2
ARTICLE II SALE AND CONVEYANCE OF THE TRUST FUND................................................................43
Section 2.01 Sale and Conveyance of Trust Fund; Priority and Subordination of Ownership Interests..43
Section 2.02 Possession of Mortgage Files..........................................................43
Section 2.03 Books and Records.....................................................................43
Section 2.04 Delivery of Mortgage Loan Documents...................................................44
Section 2.05 Acceptance by Trustee of the Trust Fund; Certain Substitutions; Certification by
Trustee...............................................................................47
Section 2.06 [Reserved]............................................................................50
Section 2.07 Execution of Certificates.............................................................50
Section 2.08 Fees and Expenses of the Trustee......................................................50
Section 2.09 Application of Principal and Interest.................................................50
Section 2.10 Conveyance of the Subsequent Mortgage Loans...........................................50
ARTICLE III REPRESENTATIONS AND WARRANTIES......................................................................55
Section 3.01 Representations of the Depositor.....................................................55
Section 3.02 Individual Mortgage Loans............................................................57
Section 3.03 Purchase and Substitution............................................................67
ARTICLE IV THE CERTIFICATES.....................................................................................70
Section 4.01 The Certificates......................................................................70
Section 4.02 Registration of Transfer and Exchange of Certificates.................................70
Section 4.03 Mutilated, Destroyed, Lost or Stolen Certificates.....................................75
Section 4.04 Persons Deemed Owners.................................................................75
Section 4.05 Information Reports to be Filed by the Servicer.......................................75
ARTICLE V ADMINISTRATION AND SERVICING OF THE MORTGAGE LOANS....................................................77
Section 5.01 Duties of the Servicer.................................................................77
Section 5.02 Liquidation of Mortgage Loans..........................................................79
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Section 5.03 Establishment of Principal and Interest Accounts; Deposits in Principal and Interest
Accounts..............................................................................80
Section 5.04 Permitted Withdrawals From the Principal and Interest Account.........................81
Section 5.05 Payment of Property Taxes, Insurance and Other Charges................................83
Section 5.06 Transfer of Accounts; Monthly Statements..............................................83
Section 5.07 Maintenance of Hazard Insurance.......................................................84
Section 5.08 Maintenance of Mortgage Impairment Insurance Policy...................................84
Section 5.09 Fidelity Bond.........................................................................85
Section 5.10 Title, Management and Disposition of REO Property.....................................85
Section 5.11 Right to Repurchase Defaulted Mortgage Loans..........................................88
Section 5.12 Collection of Certain Mortgage Loan Payments..........................................88
Section 5.13 Access to Certain Documentation and Information Regarding the Mortgage Loans..........89
Section 5.14 Superior Liens........................................................................89
Section 5.15 Environmental Matters.................................................................90
Section 5.16 Acknowledgment of Duties and Obligations..............................................90
ARTICLE VI
PAYMENTS TO THE CERTIFICATEHOLDERS...................................................................91
Section 6.01 Establishment of Certificate Account; Deposits in Certificate Account.................91
Section 6.02 Permitted Withdrawals from Certificate Account........................................91
Section 6.03 Establishment of Trustee Expense Account; Deposits in Trustee Expense Account;
Permitted Withdrawals from Trustee Expense Account....................................92
Section 6.04 Payment of Monthly Premium to Certificate Insurer.....................................94
Section 6.05 Investment of Accounts................................................................94
Section 6.06 Priority and Subordination of Distributions...........................................95
Section 6.07 Insufficiency of Amount Available or Net Excess Amount Available.....................104
Section 6.08 Statements...........................................................................104
Section 6.09 Advances by the Servicer.............................................................109
Section 6.10 Compensating Interest................................................................110
Section 6.11 [Reserved]...........................................................................110
Section 6.12 Pre-Funding Account..................................................................110
Section 6.13 Interest Coverage Account............................................................112
Section 6.14 Reserve Account......................................................................113
Section 6.15 [Reserved]...........................................................................115
Section 6.16 Compliance with Withholding Requirements.............................................115
ARTICLE VII
GENERAL SERVICING PROCEDURE.........................................................................116
Section 7.01 Assumption Agreements................................................................116
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Section 7.02 Satisfaction of Mortgages and Release of Mortgage Files..............................116
Section 7.03 Servicing Compensation...............................................................118
Section 7.04 Annual Statement as to Compliance....................................................118
Section 7.05 Annual Independent Public Accountants' Servicing Report and Comfort Letter...........119
Section 7.06 Certificateholder's, Trustee's and Certificate Insurer's Right to Examine Servicer
Records..............................................................................119
Section 7.07 Reports to the Trustee; Principal and Interest Account Statements....................120
ARTICLE VIII
REPORTS TO BE PROVIDED BY SERVICER..................................................................121
Section 8.01 Financial Statements.................................................................121
ARTICLE IX
THE SERVICER........................................................................................122
Section 9.01 Indemnification; Third Party Claims..................................................122
Section 9.02 Merger or Consolidation of the Depositor and the Servicer............................123
Section 9.03 Limitation on Liability of the Servicer and Others...................................123
Section 9.04 Servicer Not to Resign...............................................................123
Section 9.05 Representations of the Servicer......................................................124
Section 9.06 Accounting Upon Resignation or Termination of Servicer...............................125
ARTICLE X
DEFAULT.............................................................................................127
Section 10.01 Events of Default....................................................................127
Section 10.02 Trustee to Act; Appointment of Successor.............................................130
Section 10.03 Waiver of Defaults...................................................................132
ARTICLE XI
TERMINATION.........................................................................................133
Section 11.01 Termination..........................................................................133
Section 11.02 Additional Termination Requirements..................................................135
Section 11.03 Depositor's Right to Depositor's Yield Absolute......................................135
ARTICLE XII
THE TRUSTEE.........................................................................................137
Section 12.01 Duties of Trustee....................................................................137
Section 12.02 Certain Matters Affecting the Trustee................................................139
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Section 12.03 Trustee Not Liable for Certificates or Mortgage Loans................................140
Section 12.04 Trustee May Own Certificates.........................................................141
Section 12.05 Servicer to Pay Trustee's Fees and Expenses..........................................141
Section 12.06 Eligibility Requirements for Trustee.................................................141
Section 12.07 Resignation and Removal of the Trustee...............................................142
Section 12.08 Successor Trustee....................................................................143
Section 12.09 Merger or Consolidation of Trustee...................................................143
Section 12.10 Appointment of Co-Trustee or Separate Trustee........................................144
Section 12.11 Tax Returns..........................................................................145
Section 12.12 Appointment of Custodians............................................................145
Section 12.13 Trustee May Enforce Claims Without Possession of Certificates........................145
Section 12.14 Suits for Enforcement................................................................145
Section 12.15 Control of Remedies by Certificate Insurer and Certificateholders....................146
ARTICLE XIII
REMIC PROVISIONS.......................................................................................147
Section 13.01 REMIC Administration.................................................................147
Section 13.02 Prohibited Transactions and Activities...............................................150
Section 13.03 Servicer and Trustee Indemnification.................................................150
ARTICLE XIV
MISCELLANEOUS PROVISIONS............................................................................151
Section 14.01 Acts of Certificateholders...........................................................151
Section 14.02 Amendment............................................................................151
Section 14.03 Recordation of Agreement.............................................................152
Section 14.04 Duration of Agreement................................................................152
Section 14.05 Governing Law........................................................................152
Section 14.06 Notices..............................................................................152
Section 14.07 Severability of Provisions...........................................................153
Section 14.08 No Partnership.......................................................................154
Section 14.09 Counterparts.........................................................................154
Section 14.10 Successors and Assigns...............................................................154
Section 14.11 Headings.............................................................................154
Section 14.12 The Certificate Insurer..............................................................154
Section 14.13 Paying Agent.........................................................................154
Section 14.14 Actions of Certificateholders........................................................155
Section 14.15 Grant of Security Interest...........................................................156
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EXHIBIT A CONTENTS OF MORTGAGE FILE
EXHIBIT B-1 FORM OF CLASS 1A CERTIFICATE
EXHIBIT B-2 FORM OF CLASS 2A CERTIFICATE
EXHIBIT B-3 FORM OF CLASS R CERTIFICATE
EXHIBIT B-4 FORM OF REVERSE OF CERTIFICATE
EXHIBIT C PRINCIPAL AND INTEREST ACCOUNT LETTER AGREEMENT
EXHIBIT D RESALE CERTIFICATION
EXHIBIT E ASSIGNMENT
EXHIBIT E(1) WIRING INSTRUCTIONS FORM
EXHIBIT F FORM OF TRUSTEE INITIAL CERTIFICATION
EXHIBIT F-1 FORM OF TRUSTEE INTERIM CERTIFICATION
EXHIBIT G FORM OF TRUSTEE FINAL CERTIFICATION
EXHIBIT H-1 MORTGAGE LOAN SCHEDULE FOR SUB-POOL I
EXHIBIT H-2 MORTGAGE LOAN SCHEDULE FOR SUB-POOL II
EXHIBIT H-3 MORTGAGE LOAN SCHEDULE FOR SUB-POOL III
EXHIBIT H-4 MORTGAGE LOAN SCHEDULE FOR SUB-POOL IV
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
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Pooling and Servicing Agreement dated as of December 1, 1997, among LaSalle
National Bank, as trustee (the "Trustee"), Superior Bank FSB, as depositor (the
"Depositor") and 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 Group 1 Mortgage Loans and Group
2 Mortgage Loans to the Trustee for the benefit of the Certificateholders under
this Agreement, pursuant to which five classes of Certificates are being issued
on the Closing Date, denominated on the face thereof as AFC Mortgage Loan Asset
Backed Certificates, Series 1997-4, Class 1A-1, Class 1A-2, Class 2A-1, Class
2A-2 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 Group 1 Initial Mortgage
Loans have an aggregate outstanding principal balance of $94,503,580.44 as of
the Cut-off Date, and the Group 2 Initial Mortgage Loans have an aggregate
outstanding principal balance of $96,590,756.70 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 Groups is $191,094,337.14 as of
the Cut-off Date. Group 1 consists of fixed rate mortgage loans and Group 2
consists of adjustable rate mortgage loans. The Class 1A Certificates and the
Class 2A Certificates will have variable pass-through rates. 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 2A-1 and Class 2A-2 Certificates
will be "regular interests" and the Class R Certificates will be the sole Class
of "residual interests" in such REMIC.
The parties hereto agree as follows:
[Intentionally Left Blank]
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ARTICLE I
DEFINITIONS
Whenever used in this Agreement, including the Preliminary Statement, the
following words and phrases, unless the context otherwise requires, shall have
the following meanings. This Agreement relates to the Trust Fund consisting of
Group 1 and Group 2, evidenced by AFC Mortgage Loan Asset Backed Certificates,
Series 1997-4, Class 1A-1, Class 1A-2, Class 2A-1, Class 2A-2 and Class R. All
calculations of interest pursuant to this Agreement, unless otherwise specified,
are based on the actual number of days elapsed in the Accrual Period and a
360-day year.
ACCOUNT: Any of the Certificate Accounts, Trustee Expense Accounts,
Interest Coverage Accounts, Reserve Accounts, Principal and Interest Accounts or
Pre-Funding 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 and Class 2A Certificates and
with respect to any Remittance Date other than the January 1998 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 January
1998 Remittance Date, the period commencing on the Closing Date and ending on
the day immediately preceding the January 1998 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 (1)
the product of the related Class Percentage and the sum of (a) the Remaining Net
Excess Spread for such Group, (b) the Available Transfer Cashflow for such Group
and (c) the Net Excess Principal for such Group and (2) the amount, if any, that
is not required to be included in the Additional Principal for the Class of
Class A Certificates related to the other Sub-Pool in the related Group for such
Remittance Date as a result of the application of clause (i) of this definition
of Additional Principal to such other Sub-Pool.
ADJUSTMENT DATE: With respect to each Group 2 Mortgage Loan, a date on
which the Mortgage Rate may adjust, as provided in the related Mortgage Note.
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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 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 each Group and for a particular
Remittance Date, the sum of (i) the Available Remittance Amount for such Group
(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 Group for
such Remittance Date, (iii) if an Available Funds Shortfall exists in such
Group, (a) first, the Net Excess Spread from the other Group, to the extent of
such Available Funds Shortfall, (b) second, the Excess Principal from the other
Group, 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) if such Remittance Date is prior to the Cross-Over Date, (a) first, the
Available Transfer Cashflow, to the extent necessary to reach the Required
Overcollateralization Amount for such Group and (b) second, the Net Excess
Principal, to the extent necessary to reach the Required Overcollateralization
Amount for such Group and (v) any Insured Payments with respect to such Group.
AMOUNTS HELD FOR FUTURE DISTRIBUTION: With respect to any Group and as to
any Remittance Date, the aggregate amount held in the Principal and Interest
Accounts with respect to such Group 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, Mixed Use Loans and Commercial 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, Mixed Use Loan or Commercial Loan
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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.
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
2A-1, and Class 2A-2 Certificates may be issued in a different amount which is
less than the related minimum dollar denomination).
AVAILABLE FUNDS CAP CARRY FORWARD AMOUNT: With respect to Group 2 and any
Remittance Date up to and including (but not after) the Remittance Date on which
the Class 2A Principal Balance is reduced to zero, an amount equal to the sum of
(i) the excess, if any, of (x) the Class 2A Interest Remittance Amount for the
immediately preceding Remittance Date calculated pursuant to clause (i) of the
definition of Class 2A-1 Pass-Through Rate and clause (i) of the definition of
Class 2A-2 Pass Through Rate, as applicable, but in no event greater than Class
2A Cap Rate, over (y) the Class 2A Interest Remittance Amount for the
immediately preceding Remittance Date calculated pursuant to clause (ii) of the
definition of Class 2A-1 Pass-Through Rate and clause (ii) of the definition of
Class 2A-2 Pass-Through Rate, (ii) the amount of any Available Funds Cap Carry
Forward Amount for such preceding Remittance Date to the extent not distributed
to the Class 2A Certificateholders on such preceding Remittance Date and (iii)
interest accrued on the amounts described in clauses (i) and (ii) above during
the Accrual Period for the current Remittance Date at the Class 2A-1
Pass-Through Rate and Class 2A-2 Pass-Through Rate, as applicable, for such
Remittance Date.
AVAILABLE FUNDS SHORTFALL: With respect to any Group and for a particular
Remittance Date, the amount by which the Available Remittance Amount plus Excess
Spread for such Group 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 Group.
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 related definition of Class
A Principal Remittance Amount, after giving effect to clause (a) thereof.
AVAILABLE REMITTANCE AMOUNT: With respect to each Group 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 Group, any related
Amounts Held for Future Distribution, any amounts not required
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to be deposited in the related Principal and Interest Accounts 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 Group 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 Additions with respect to the
related Group 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 Group and for a
particular Remittance Date, an amount equal to the Remaining Net Excess Spread
for the other Group remaining after the payment, if any, of Additional Principal
on the Class A Certificates related to such other Group.
BALLOON MORTGAGE LOAN: Any Mortgage Loan that provided on the date of
origination for an amortization schedule extending beyond its stated maturity
date.
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 2A-1
Certificate, Class 2A-2 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.
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CERTIFICATE ACCOUNT: With respect to each Group, as described in Section
6.01. With respect to Group 1, the Certificate Account shall be known as the
Group 1 Certificate Account and with respect to Group 2, the Certificate Account
shall be known as the Group 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.
CERTIFICATE INSURANCE POLICY: The certificate guaranty surety bond, policy
number 97010804, 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, 2A, 2A-1, 2A-2 or R).
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CLASS PERCENTAGE: With respect to any Class 1A or Class 2A Certificate and
any Remittance Date, the percentage obtained by dividing (i) the amount
determined pursuant to clause (c) of the definition of Class A Principal
Remittance Amount for such Class 1A or Class 2A Certificate on such Remittance
Date, by (ii) the sum of the amounts determined pursuant to clause (c) of the
definition of Class A Principal Remittance Amounts for all Class 1A or 2A
Certificates, as the case may be, on such Remittance Date.
CLASS 1A CERTIFICATE: Either a Class 1A-1 or Class 1A-2 Certificate.
CLASS 1A CERTIFICATEHOLDER: A Holder of a Class 1A-1 or Class 1A-2
Certificate.
CLASS 1A INTEREST REMITTANCE AMOUNT: As to any Remittance Date, the sum of
the Class 1A-1 Interest Remittance Amount and the Class 1A-2 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-1 CERTIFICATEHOLDER: A Holder of a Class 1A-1 Certificate.
CLASS 1A-2 CERTIFICATEHOLDER: A Holder of a Class 1A-2 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 related Accrual
Period on the Class 1A-1 Principal Balance immediately prior to such Remittance
Date.
CLASS 1A-2 INTEREST REMITTANCE AMOUNT: As to any Remittance Date, the
interest accrued at the Class 1A-2 Pass-Through Rate for the related Accrual
Period on the Class 1A-2 Principal Balance immediately prior to such Remittance
Date.
CLASS 1A MAJORITY CERTIFICATEHOLDERS: The Holder or Holders of Class 1A-1
and Class 1A-2 Certificates possessing Voting Rights in excess of 50% in the
aggregate.
CLASS 1A-1 PASS-THROUGH RATE: As to any Remittance Date, the lesser of (i)
One-Month LIBOR plus 0.30% per annum and (ii) the weighted average of the
Mortgage Rates of the Group 1 Mortgage Loans minus, with respect to Group 1, 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 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 0.70%
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per annum. For purposes of calculating the Class 1A-1 Pass-Through Rate for any
Remittance Date, because most of the Group 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 Group 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 Group 1 Mortgage Loans.
CLASS 1A-2 PASS-THROUGH RATE: As to any Remittance Date, the lesser of (i)
One-Month LIBOR plus 0.31% per annum and (ii) the weighted average of the
Mortgage Rates of the Group 1 Mortgage Loans minus, with respect to Group 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 (d) 0.50% 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 0.71% per annum. For purposes of calculating the Class 1A-1
Pass-Through Rate for any Remittance Date, because most of the Group 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-2 Certificates), the basis
on which interest is computed on the Group 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 Group 1 Mortgage Loans.
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 (a) or (b)(i) or each of 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 or amounts described in the last sentence 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 Section
6.06(c)(A)(X)(iv) 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 (a) or (b)(i) or each of
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
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(c)(viii) of the definition of Class A Principal Remittance Amount or amounts
described in the last sentence of the definition of Class A Principal Remittance
Amount, (B) all f amounts previously distributed to the Class 1A-1
Certificateholders in respect of principal pursuant to Section 6.06(c)(A)(X)(iv)
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 (a) or (b)(i) or each of
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 or amounts described in the last sentence 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)(iv) and (C) all amounts previously distributed
to the Class 1A-2 Certificateholders pursuant to the last paragraph of Section
6.06(c).
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 and the Class
1A-2 Certificates.
CLASS 2A CAP RATE: As to any Remittance Date, the weighted average of the
Maximum Mortgage Rates of the Group 2 Mortgage Loans minus, with respect to
Group 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.
CLASS 2A CERTIFICATE: Either a Class 2A-1 or Class 2A-2 Certificate.
CLASS 2A CERTIFICATEHOLDER: A Holder of a Class 2A-1 or Class 2A-2
Certificate.
CLASS 2A INTEREST REMITTANCE AMOUNT: As to any Remittance Date, the sum of
the Class 2A-1 Interest Remittance Amount and Class 2A-2 Interest Remittance
Amount
CLASS 2A-1 CERTIFICATE: A Certificate denominated as a Class 2A-1
Certificate.
CLASS 2A-2 CERTIFICATE: A Certificate denominated as a Class 2A-2
Certificate.
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CLASS 2A-1 INTEREST REMITTANCE AMOUNT: As to any Remittance Date, the
interest accrued at the Class 2A-1 Pass-Through Rate for the related Accrual
Period on the Class 2A-1 Principal Balance immediately prior to such Remittance
Date.
CLASS 2A-2 INTEREST REMITTANCE AMOUNT: As to any Remittance Date, the
interest accrued at the Class 2A-2 Pass-Through Rate for the related Accrual
Period on the Class 2A-2 Principal Balance immediately prior to such Remittance
Date.
CLASS 2A MAJORITY CERTIFICATEHOLDERS: The Holder or Holders of Class 2A-1
Certificates and Class 2A-2 Certificates possessing Voting Rights in excess of
50% in the aggregate.
CLASS 2A-1 PASS-THROUGH RATE: As to any Remittance Date, the least of (i)
One-Month LIBOR plus 0.23% per annum, (ii) the weighted average of the Mortgage
Rates of the Group Mortgage Loans minus, with respect to Group 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, and (iii) the
Class 2A Cap Rate; 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 0.63%. For purposes of calculating the Class 2A-1
Pass-Through Rate for any Remittance Date, because most of the Group 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-1 Certificates), the basis
on which interest is computed on the Group 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 Group 2 Mortgage Loans.
CLASS 2A-2 PASS-THROUGH RATE: As to any Remittance Date, the least of (i)
one Month LIBOR plus 0.24% per annum, (ii) the weighted average of the Mortgage
Rates of the Group 2 Mortgage Loans minus, with respect to Group 2, the sum of
(a) the Servicing Rate, (b) the rate at which the Annual Trustee Expense Amount
is calculated, (c) the Premium Percentage and (d) 0.50% per annum, and (iii) the
Class 2A Cap Rate; 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-2
Pass-Through Rate for any Remittance Date, because most of the Group 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-2 Certificates), the basis
on which interest is computed on the Group 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 Group 2 Mortgage Loans.
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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 (a) or (b)(i) or each of 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 or amounts described in the last sentence of the definition of
Class A Principal Remittance Amount, (B) all amounts previously distributed to
the Class 2A Certificateholders in respect of principal pursuant to Section
6.06(c)(B)(X)(iv) and (C) all amounts previously distributed to the Class 2A
Certificateholders pursuant to the last paragraph of Section 6.06(c).
CLASS 2A-1 PRINCIPAL BALANCE: With respect to the Class 2A-1 Certificates
and as of any date of determination, the Original Class 2A-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 2A-1 Certificateholders in respect of principal on all previous Remittance
Dates on account of amounts described in clauses (a) or (b)(i) or each of
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 or amounts described in the last sentence of the
definition of Class A Principal Remittance Amount, (B) all amounts previously
distributed to the Class 2A-1 Certificateholders in respect of principal
pursuant to Section 6.06(c)(B)(X)(iv) and (C) all amounts previously distributed
to the Class 2A-1 Certificateholders pursuant to the last paragraph of Section
6.06(c).
CLASS 2A-2 PRINCIPAL BALANCE: With respect to the Class 2A-2 Certificates
and as of any date of determination, the Original Class 2A-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 2A-2 Certificateholders in respect of principal on all previous Remittance
Dates on account of amounts described in clauses (a) or (b)(i) or each of
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 or amounts described in the last sentence of the
definition of Class A Principal Remittance Amount, (B) all amounts previously
distributed to the Class 2A-2 Certificateholders in respect of principal
pursuant to Section 6.06(c)(B)(X)(iv) and (C) all amounts previously distributed
to the Class 2A-2 Certificateholders pursuant to the last paragraph of Section
6.06(c).
CLASS 2A REMITTANCE AMOUNT: As of any Remittance Date, the Class A
Remittance Amount with respect to the Class 2A Certificates.
CLASS 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
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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) and (ii) or
pursuant to 6.06(c)(A)(Y)(i) and (ii), with respect to Group 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 Group 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, and the Class 1A-2 Pass-Through Rate, with respect to Group 1, and the
weighted average of the Class 2A-1 Pass-Through Rate and the Class 2A-2
Pass-Through Rate with respect to Group 2 from such immediately preceding
Remittance Date.
CLASS A CERTIFICATE: A certificate denominated as a Class 1A-1, Class 1A-2,
Class 2A-1, or Class 2A-2 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 2A-1
Interest Remittance Amount or the Class 2A-2 Interest Remittance Amount.
CLASS A PASS-THROUGH RATE: As to any Remittance Date, any of the Class 1A-1
Pass-Through Rate, the Class 1A-2 Pass-Through Rate, the Class 2A-1 Pass-Through
Rate or the Class 2A-2 Pass-Through Rate.
CLASS A PRINCIPAL BALANCE: As of any date of determination, the Class 1A
Principal Balance, with respect to Group 1, or the Class 2A Principal Balance,
with respect to Group 2.
CLASS A PRINCIPAL REMITTANCE AMOUNT: With respect to a Sub-Pool and as to
any Remittance Date (other than the Remittance Date described in the next
succeeding sentence), the amount required to be distributed on such Remittance
Date from available funds in respect of any Class of Class A Certificates, such
amount being equal to the least of (a) that amount required to reach the
Required Overcollateralization Amount with respect to such related 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 the following
amounts relating to such Sub-Pool (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
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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 Section
6.06(c)(A)(X)(ii) with respect to Group 1 or Section 6.06(c)(B)(X)(ii) with
respect to Group 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, an amount equal to 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: December 22, 1997.
CODE: The Internal Revenue Code of 1986, as amended.
COMBINED LOAN-TO-VALUE RATIO OR CLTV: With respect to any Group 1 Mortgage
Loan, the sum of the original principal balance of such Group 1 Mortgage Loan
and the outstanding principal balance of any related First Lien as of the date
of origination of the Group 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 Group 1 Mortgage Loan or (ii) the purchase price of the
Mortgaged Property if the Group 1 Mortgage Loan proceeds are used to purchase
the Mortgaged Property.
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COMMERCIAL LOAN: Any Group 1 Mortgage Loan which is secured by a Commercial
Property.
COMMERCIAL PROPERTY: With respect to the Group 1 Mortgage Loans, a property
which consists of a commercial structure.
COMPENSATING INTEREST: As defined in Section 6.10.
CROSS-OVER DATE: With respect to each Group, 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: December 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 Group 1, the sum of:
(a) 5.375% of the aggregate Principal Balance of the Group 1 Mortgage
Loans that, as of the end of the last Business Day of the month preceding
such Determination Date, are 30 to 59 days Delinquent;
(b) 10.75% of the aggregate Principal Balance of the Group 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;
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(c) 21.5% of the aggregate Principal Balance of the Group 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 Group 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 Group 2, the sum
of:
(a) 5.375% of the aggregate Principal Balance of the Group 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 Group 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 Group 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 Group 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.
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.
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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, a Mixed Use Loan or a Commercial 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.
DUE DATE: The day of the month on which the Monthly Payment is due from the
Mortgagor on a Mortgage Loan.
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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 Group and with respect to any Remittance Date if (i) on or prior to the
related Cross-Over Date, the amounts remitted by the Servicer and available to
the Trustee pursuant to Sections 5.04(i), 6.05(e), 6.09 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
Group, plus the amount of any Excess Principal from the other Group, plus the
amount to be paid pursuant to the last paragraph of Section 6.06(c) (if any),
will not, taken together, be sufficient to pay the sum of (x) all of the related
Class A Remittance Amount (exclusive of any related Class A Carry-Forward Amount
representing amounts previously paid to the related Class A Certificateholders
as Insured Payments, or representing interest accrued in respect of such Insured
Payments) and (y) the related Monthly Premium to be withdrawn from the related
Certificate Account to be paid to the Certificate Insurer pursuant to Section
6.02(i) in respect of such Remittance Date, or (ii) after the related Cross-Over
Date, the related Available Remittance Amount remitted by the Servicer to the
Trustee pursuant to Section 5.04(i) plus that additional portion of the Amount
Available constituting Excess Spread available to pay the related Class A
Interest Remittance Amount pursuant to Section 6.06(c)(A)(Y)(i) with respect to
Group 1, and Section 6.06(c)(B)(Y)(i) with respect to Group 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 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
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Remittance Amount (exclusive of any related Class A Carry-Forward Amount
representing amounts previously paid to the related Class A Certificateholders,
as Insured Payments, or representing interest accrued in respect of such Insured
Payments) and (y) the related Monthly Premium to be withdrawn from the related
Certificate Account to be paid to the Certificate Insurer pursuant to Section
6.02(i) in respect of such Remittance Date, or (iii) the sum of all Realized
Losses with respect to such Group since the Closing Date exceeds 75% of the
related Subordinated Amount as of February 25, 1998.
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 Group and for a particular Remittance
Date, the lesser of (i) the portion, if any, of the Available Principal Amount
for each related 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 the related
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 Group.
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 Group 1 and for a particular Remittance
Date, an amount equal to the sum of (a) the excess of (x) all payments received
or advanced on account of interest on the Group 1 Mortgage Loans during the
related Due Period over (y) the sum of (i) the related Class 1A Interest
Remittance Amount for such Remittance Date with respect to the Class 1A-1 and
Class 1A-2 Certificates, (ii) the Annual Trustee Expense Amount with respect to
Group 1 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 January 26, 1998 and February 25, 1998 Remittance Dates only, Excess Spread
shall also include an amount with respect to the related Pre-Funded Amounts to
be determined by the Certificate Insurer and deposited into the Sub-Pool I
Interest Coverage Account and the Sub-Pool II Interest Coverage Account, as
applicable, by the Depositor on the Closing Date.
With respect to Group 2 and for a particular Remittance Date, an amount
equal to the sum of (a) the excess of (x) all payments received or advanced on
account of interest on the Group 2 Mortgage Loans during the related Due Period
over (y) the sum of (i) the Class 2A
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Interest Remittance Amount for such Remittance Date with respect to the Class
2A-1 and Class 2A-2 Certificates, (ii) the Annual Trustee Expense Amount with
respect to Group 2 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 January 26, 1998 and February 25, 1998 Remittance Dates only,
Excess Spread shall also include an amount with respect to the related
Pre-Funded Amounts to be determined by the Certificate Insurer and deposited
into the Sub-Pool III Interest Coverage Account and the Sub-Pool IV Interest
Coverage Account, as applicable, 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 Group 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 Group, 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 February 24, 1998.
GROSS MARGIN: With respect to each Group 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.
GROUP 1: Collectively, Sub-Pool I and Sub-Pool II.
GROUP 2: Collectively, Sub-Pool III and Sub-Pool IV.
GROUP 1 CERTIFICATE ACCOUNT: The Certificate Account with respect to
Sub-Pool I and Sub-Pool II.
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GROUP 2 CERTIFICATE ACCOUNT: The Certificate Account with respect to
Sub-Pool III and Sub-Pool IV.
GROUP 1 RESERVE ACCOUNT: The Reserve Account with respect to Group 1.
GROUP 2 RESERVE ACCOUNT: The Reserve Account with respect to Group 2.
GROUP 1 SUBSEQUENT MORTGAGE LOAN: Either a Sub-Pool I Subsequent Mortgage
Loan or a Sub-Pool II Subsequent Mortgage Loan.
GROUP 2 SUBSEQUENT MORTGAGE LOAN: Either a Sub-Pool III Subsequent Mortgage
Loan or a Sub-Pool IV Subsequent Mortgage Loan.
GROUP 1 TRUSTEE EXPENSE ACCOUNT: The Trustee Expense Account with respect
to Group 1.
GROUP 2 TRUSTEE EXPENSE ACCOUNT: The Trustee Expense Account with respect
to Group 2.
INDEX: With respect to the Group 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 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.
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INITIAL ADJUSTMENT DATE: With respect to each Group 2 Mortgage Loan, the
first adjustment date following the origination of such Mortgage Loan.
INITIAL MORTGAGE RATE: With respect to each Group 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 Group, 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 Group 1, and $0.00 for
Group 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 Group 1 Mortgage Loans and
customary first mortgage servicing procedures in the case of Group 2 Mortgage
Loans.
INSURED PAYMENT: With respect to each Group and as of each Remittance Date,
the amount, if any, by which (1) the related Class A Remittance Amount
(excepting clause (c)(vi) of each of the related definitions 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 Group, if any, plus Excess Principal from the other Group,
if any, and (Y) the related Subordinated Amount, or (II), if such Remittance
Date is on or after the related Cross-Over Date, that portion of the Amount
Available constituting Excess Spread with respect to the related Group available
to pay the related Class A Interest Remittance Amount pursuant to Section
6.06(c)(A)(Y)(i) with respect to Group 1 and Section 6.06(c)(B)(Y)(i) with
respect to Group 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
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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.
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 I, the Interest Coverage Account shall be
known as the Sub-Pool I Interest Coverage Account and with respect to Sub-Pool
II, the Interest Coverage Account shall be known as the Sub-Pool II Interest
Coverage Account. With respect to Sub-Pool III, the Interest Coverage Account
shall be known as the Sub-Pool III Interest Coverage Account and, with respect
to Sub-Pool IV, the Interest Coverage Account shall be known as the Sub-Pool IV
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 Group, the amount to be paid
by the Depositor to the Trustee for deposit into the related Interest Coverage
Account pursuant to Section 6.13(a) on the Closing Date, which amount is
$559,967.42 for Sub-Pool I, $1,079,774.81 for Sub-Pool II, $534,240.98 for
Sub-Pool III and $954,684.52 for Sub-Pool IV.
LIQUIDATED MORTGAGE LOAN: Any defaulted Mortgage Loan or REO Property as to
which the Servicer has determined that all amounts which it reasonably and in
good faith expects to recover have been recovered from or on account of such
Mortgage Loan or REO Property.
LIQUIDATION PROCEEDS: Any cash amounts received in connection with the
liquidation of defaulted Mortgage Loans, whether through trustee's sale,
foreclosure sale, REO Disposition or otherwise, and any other amounts required
to be deposited in the Principal and Interest Account pursuant to Section 5.10.
LOAN-TO-VALUE RATIO: The fraction, expressed as a percentage, the numerator
of which is the original Principal Balance of the related Mortgage Loan and the
denominator of which is the Appraised Value at the time of origination of the
related Mortgaged Property.
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MAJORITY CERTIFICATEHOLDERS: With respect to Group 1, the Class 1A Majority
Certificateholders. With respect to Group 2, the Class 2A Majority
Certificateholders.
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 Group 2 Mortgage Loan, the
maximum rate of interest set forth in the related Mortgage Note.
MINIMUM MORTGAGE RATE: With respect to each Group 2 Mortgage Loan, the
minimum rate of interest set forth in the related Mortgage Note.
MIXED USE LOAN: Any Group 1 Mortgage Loan which is secured by a mixed
residential and commercial structure.
MIXED USE PROPERTY: With respect to Group 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 Group, 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.
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.
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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, H-2, H-3 and H-4. 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, H-2, H-3 or H-4, 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 Group 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 Group 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 Group 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, Mixed
Use Property or Commercial Property which secures a Mortgage Loan.
MORTGAGOR: The obligor on a Mortgage Note.
MULTIFAMILY LOAN: Any Mortgage Loan which is secured by Multifamily
Property.
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 Group and for a particular
Remittance Date, the sum of (i) the Available Remittance Amount for such Group
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(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
Group.
NET EXCESS PRINCIPAL: With respect to any Group and for a particular
Remittance Date, the Excess Principal for such Group remaining after the
application thereof to cover an Available Funds Shortfall with respect to the
other Group.
NET EXCESS SPREAD: With respect to any Group and for a particular
Remittance Date, the Excess Spread for such Group remaining after the
application thereof to cover Required Payments with respect to such Group (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 and Class 2A Certificates, as
determined by the Trustee on the second Business Day preceding the beginning of
each Accrual Period, the London interbank offered rate for the relevant Accrual
Period for one-month U.S. dollar deposits for a term equal to the relevant
Accrual Period as such rates appear on Telerate Page 3750, as of 11:00 a.m.
(London time) on such date. If such rate does not appear on Telerate Page 3750,
the rate for that day will be determined on the basis of the rates at which
deposits in United States dollars are offered by the Reference Banks at
approximately 11:00 a.m., London time, on that day to banks in the London
interbank market for a term equal to the relevant Accrual Period. The Trustee
will request the principal London office of each of the Reference Banks to
provide a quotation of its rate. If at least two such quotations are provided,
the rate for that day
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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: $152,500,000.
ORIGINAL CLASS 1A-1 PRINCIPAL BALANCE: $52,800,000.
ORIGINAL CLASS 1A-2 PRINCIPAL BALANCE: $99,700,000.
ORIGINAL CLASS 2A PRINCIPAL BALANCE: $155,500,000.
ORIGINAL CLASS 2A-1 PRINCIPAL BALANCE: $55,500,000.
ORIGINAL CLASS 2A-2 PRINCIPAL BALANCE: $100,000,000.
ORIGINAL GROUP PRINCIPAL BALANCE: Either the Original Group 1 Principal
Balance or the Original Group 2 Principal Balance, as applicable.
ORIGINAL GROUP 1 PRINCIPAL BALANCE: The aggregate Cut-off Date Principal
Balances of the Group 1 Initial Mortgage Loans, which amount is equal to
$94,503,580.44.
ORIGINAL GROUP 2 PRINCIPAL BALANCE: The aggregate Cut-off Date Principal
Balances of the Group 2 Initial Mortgage Loans, which amount is equal to
$96,590,756.70.
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ORIGINAL POOL PRINCIPAL BALANCE: $191,094,337.14, equal to the sum of the
Original Group 1 Principal Balance and the Original Group 2 Principal Balance.
ORIGINAL PRE-FUNDED AMOUNT: With respect to each Sub-Pool, the amount
deposited by the Depositor in the related Pre-Funding Account on the Closing
Date, which amount is $21,113,030.52 for Sub-Pool I, $39,884,562.11 for
Sub-Pool II, $22,076,960.54 for Sub-Pool III, and $39,884,006.19 for Sub-Pool
IV.
ORIGINAL SUB-POOL I PRINCIPAL BALANCE: The aggregate Cut-off Date principal
Balances of the Sub-Pool I Initial Mortgage Loans, which amount is equal to
$32,726,064.09.
ORIGINAL SUB-POOL II PRINCIPAL BALANCE: The aggregate Cut-off Date
principal Balances of the Sub-Pool II Initial Mortgage Loans, which amount is
equal to $61,777,516.35.
ORIGINAL SUB-POOL III PRINCIPAL BALANCE: The aggregate Cut-off Date
principal Balances of the Sub-Pool III Initial Mortgage Loans, which amount is
equal to $34,497,963.28.
ORIGINAL SUB-POOL IV PRINCIPAL BALANCE: The aggregate Cut-off Date
principal Balances of the Sub-Pool IV Initial Mortgage Loans, which amount is
equal to $62,092,793.42.
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 allocated to such
Sub-Pool 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 2A-1,
or Class 2A-2 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 2A-1, or Class 2A-2 Principal Balance, as applicable. With
respect
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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 Group 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 Group 2
Mortgage Loans with a One-Year Treasury Index, to not more than two percentage
points, and (ii) with respect to the Group 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 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;
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(v) investments in money market funds rated "AAAm" or "AAAm-G" by S&P
and Aaa by Moody's; and
(vi) investments approved by S&P, Moody's and the Certificate Insurer
in writing delivered to the Trustee;
provided that no instrument described hereunder shall evidence either the right
to receive (a) only interest with respect to the obligations underlying such
instrument or (b) both principal and interest payments derived from obligations
underlying such instrument and the interest and principal payments with respect
to such instrument provided a yield to maturity at par greater than 120% of the
yield to maturity at par of the underlying obligations; and provided, further,
that no instrument described hereunder may be purchased at a price greater than
par.
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 Group 1 Principal Balance and the Group 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 I, the
Pre-Funding Account shall be known as the Sub-Pool I Pre-Funding Account, with
respect to Sub-Pool II, the Pre-Funding Account shall be known as the Sub-Pool
II Pre-Funding Account with respect to Sub-Pool III, the Pre-Funding Account
shall be known as the Sub-Pool III Pre-Funding Account and with respect to
Sub-Pool IV, the Pre-Funding Account shall be known as the Sub-Pool IV
Pre-Funding Account.
PREMIUM PERCENTAGE: With respect to each Group and as of any Remittance
Date, the percentage designated as such in the Insurance Agreement.
PREPAYMENT ASSUMPTION: With respect to Group 1, 2% per annum of the then
outstanding principal balance of the Group 1 Mortgage Loans in the first month
of the life of the Group 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 Group 1 Mortgage Loans, 26% per annum each month. With
respect to Group 2, an assumed constant rate of prepayment equal to 28% per
annum.
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PRINCIPAL AND INTEREST ACCOUNT: With respect to each Sub-Pool, the
principal and interest account established by the Servicer pursuant to Section
5.03. With respect to Sub-Pool I, the Principal and Interest Account shall be
known as the Sub-Pool I Principal and Interest Account and with respect to
Sub-Pool II, the Principal and Interest Account shall be known as the Sub-Pool
II Principal and Interest Account with respect to Sub-Pool III, the Principal
and Interest Account shall be known as the Sub-Pool III Principal and Interest
Account and with respect to Sub-Pool IV, the Principal and Interest Account
shall be known as the Sub-Pool IV Principal and Interest Account.
PRINCIPAL BALANCE: With respect to any Mortgage Loan or related REO
Property, at any date of determination, (i) the Cut-off Date Principal Balance
of such Mortgage Loan (or the principal balance outstanding as of the Subsequent
Cut-off Date with respect to a Subsequent Mortgage Loan or as of the applicable
substitution date with respect to a Qualified Substitute Mortgage Loan), after
application of principal payments received on or before such Cut-off Date (or on
or before such Subsequent Cut-off Date or substitution date), minus (without
duplication) (ii) the sum of (a) the principal portion of the Monthly Payments
received during each Due Period ending prior to the most recent Remittance Date
and deposited in the related Principal and Interest Account pursuant to Section
5.03, and (b) all Principal Prepayments, Curtailments, Excess Payments,
Insurance Proceeds, Net Liquidation Proceeds, Released Mortgaged Property
Proceeds, 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).
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QUALIFIED SUBSTITUTE MORTGAGE LOAN: A Mortgage Loan substituted by the
Depositor for a Deleted Mortgage Loan pursuant to Section 2.05 or 3.03, which,
(A) with respect to any Group 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 (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 Group 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
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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.
REFERENCE BANKS: Such leading banks selected by the Trustee and engaged in
transactions in Eurodollar deposits in the international Eurocurrency market.
REIMBURSABLE AMOUNTS: As of any date of determination, an amount payable to
the Servicer or the Depositor with respect to (i) Monthly Advances and Servicing
Advances not previously reimbursed and (ii) any advances reimbursable pursuant
to Section 9.01 and not previously reimbursed pursuant to Section 6.03(c) or
6.06(c).
RELEASED MORTGAGED PROPERTY PROCEEDS: As to any Mortgage Loan, proceeds
received by the Servicer in connection with (a) a taking of an entire Mortgaged
Property by exercise of the power of eminent domain or condemnation or (b) any
release of part of the Mortgaged Property from the lien of the related Mortgage,
whether by partial condemnation, sale or otherwise; which are not released to
the Mortgagor in accordance with applicable law, customary mortgage servicing
procedures and this Agreement.
REMAINING NET EXCESS SPREAD: With respect to any Group and for a particular
Remittance Date, the Net Excess Spread for such Group remaining after the
application thereof to cover an Available Funds Shortfall with respect to the
other Group.
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
January 26, 1998.
RENTS FROM REAL PROPERTY: With respect to any REO Property relating to a
Multifamily Loan, Mixed Use Loan or Commercial 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.
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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 Group 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 Group, 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 Group 1, the Reserve
Account shall be known as the Group 1 Reserve Account and with respect to Group
2, the Reserve Account shall be known as the Group 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: 1997-4.
SERVICER: 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
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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 Group 1
Mortgage Loan, expenditures relating to the purchase or maintenance of the First
Lien pursuant to Section 5.14, for all of which costs and expenses the Servicer
is entitled to reimbursement in accordance with this Agreement. Notwithstanding
anything herein to the contrary, no Servicing Advance shall be required to be
made hereunder if such Servicing Advance would, if made, constitute a
Nonrecoverable Advance. The determination by the Servicer that it has made a
Nonrecoverable Advance or that any proposed Servicing Advance, if made, would
constitute a Nonrecoverable Advance, shall be evidenced by an Officer's
Certificate delivered to the Certificate Insurer, the Depositor and the Trustee
no later than the Business Day following such determination.
SERVICING COMPENSATION: The Servicing Fee and other amounts to which the
Servicer is entitled pursuant to Section 7.03. 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.
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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 I, Sub-Pool II, Sub-Pool III or Sub-Pool IV.
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 I Principal Balance, the
Sub-Pool II Principal Balance, the Sub-Pool III Principal Balance or the
Sub-Pool IV Principal Balance.
SUB-POOL I: (i) the Sub-Pool I 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 I or are deposited, with respect to
Sub-Pool I in the Group 1 Certificate Account, Group 1 Trustee Expense Account,
Group 1 Reserve Account, Sub-Pool I Interest Coverage Account, the Sub-Pool I
Pre-Funding Account or the Sub-Pool I Principal and Interest Account, including
any amounts on deposit in the foregoing accounts and invested in Permitted
Instruments, (iii) the Trustee's rights under all insurance policies with
respect to the Sub-Pool I 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
I Mortgage Loans and (vi) Released Mortgaged Property Proceeds with respect to
Sub-Pool I Mortgage Loans. The Depositor's Yield and amounts received after the
Cut-off Date in the case of the Sub-Pool I Initial Mortgage Loans, or after a
Subsequent Cut-off Date in the case of the Sub-Pool I Subsequent Mortgage Loans,
in respect of interest accrued on the Sub-Pool I 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 I.
SUB-POOL I INITIAL MORTGAGE LOANS: The Initial Mortgage Loans with respect
to Sub-Pool I.
SUB-POOL I INTEREST COVERAGE ACCOUNT: The Interest Coverage Account with
respect to Sub-Pool I.
SUB-POOL I MORTGAGE LOANS: The Mortgage Loans subject to this Agreement
included in Sub-Pool I.
SUB-POOL I PRE-FUNDING ACCOUNT: The Pre-Funding Account with respect to
Sub-Pool I.
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SUB-POOL I PRINCIPAL AND INTEREST ACCOUNT: The Principal and Interest
Account with respect to Sub-Pool I.
SUB-POOL I PRINCIPAL BALANCE: As of any date of determination, the
aggregate Principal Balances of the Sub-Pool I Mortgage Loans.
SUB-POOL I SUBSEQUENT MORTGAGE LOAN: A Sub-Pool I Mortgage Loan assigned
and transferred by the Depositor to the Trustee pursuant to Section 2.10, such
Sub-Pool I Mortgage Loan being identified on the related Mortgage Loan Schedule
attached to a Sub-Pool I Subsequent Transfer Instrument.
SUB-POOL I 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 I
Subsequent Mortgage Loans are transferred and assigned to the Trustee.
SUB-POOL II: (i) the Sub-Pool II 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 II or are deposited, with respect to
Sub-Pool II, in the Group 1 Certificate Account, Group 1 Trustee Expense
Account, Group 1 Reserve Account, Sub-Pool II Interest Coverage Account, the
Sub-Pool II Pre-Funding Account and the Sub-Pool II Principal and Interest
Account, including any amounts on deposit in the foregoing accounts and invested
in Permitted Instruments, (iii) the Trustee's rights under all insurance
policies with respect to the Sub-Pool II 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 II Mortgage Loans and (vi) Released Mortgaged Property
Proceeds with respect to Sub-Pool II Mortgage Loans. The Depositor's Yield and
amounts received after the Cut-off Date in the case of the Sub-Pool II Initial
Mortgage Loans, or after a Subsequent Cut-off Date in the case of the Sub-Pool
II Subsequent Mortgage Loans, in respect of interest accrued on the Sub-Pool II
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 II.
SUB-POOL II INITIAL MORTGAGE LOANS: The Initial Mortgage Loans with respect
to Sub-Pool II.
SUB-POOL II INTEREST COVERAGE ACCOUNT: The Interest Coverage Account with
respect to Sub-Pool II.
SUB-POOL II MORTGAGE LOANS. The Mortgage Loans subject to this Agreement
included in Sub-Pool II.
SUB-POOL II PRE-FUNDING ACCOUNT: The Pre-Funding Account with respect to
Sub-Pool II.
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SUB-POOL II PRINCIPAL AND INTEREST ACCOUNT: The Principal and Interest
Account with respect to Sub-Pool II.
SUB-POOL II PRINCIPAL BALANCE: As of any date of determination, the
aggregate Principal Balances of the Sub-Pool II Mortgage Loans.
SUB-POOL II SUBSEQUENT MORTGAGE LOAN: A Sub-Pool II Mortgage Loan assigned
and transferred by the Depositor to the Trustee pursuant to Section 2.10, such
Sub-Pool II Mortgage Loan being identified on the related Mortgage Loan Schedule
attached to a Sub-Pool II Subsequent Transfer Instrument.
SUB-POOL II 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 II
Subsequent Mortgage Loans are transferred and assigned to the Trustee.
SUB-POOL III: (i) the Sub-Pool III 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 III or are deposited, with respect to
Sub-Pool III, in the Group 2 Certificate Account, Group 2 Trustee Expense
Account, Group 2 Reserve Account, Sub-Pool III Interest Coverage Account, the
Sub-Pool III Pre-Funding Account or the Sub-Pool III Principal and Interest
Account, including any amounts on deposit in the foregoing accounts and invested
in Permitted Instruments, (iii) the Trustee's rights under all insurance
policies with respect to the Sub-Pool III 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 III Mortgage Loans and (vi) Released Mortgaged Property
Proceeds with respect to Sub-Pool III Mortgage Loans. The Depositor's Yield and
amounts received after the Cut-off Date in the case of the Sub-Pool III Initial
Mortgage Loans, or after a Subsequent Cut-off Date in the case of the Sub-Pool
III Subsequent Mortgage Loans, in respect of interest accrued on the Sub-Pool
III 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 III.
SUB-POOL III INITIAL MORTGAGE LOANS: The Initial Mortgage Loans with
respect to Sub-Pool III.
SUB-POOL III INTEREST COVERAGE ACCOUNT: The Interest Coverage Account with
respect to Sub-Pool III.
SUB-POOL III MORTGAGE LOANS: The Mortgage Loans subject to this Agreement
included in Sub-Pool III.
SUB-POOL III PRE-FUNDING ACCOUNT: The Pre-Funding Account with respect to
Sub-Pool III.
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SUB-POOL III PRINCIPAL AND INTEREST ACCOUNT: The Principal and Interest
Account with respect to Sub-Pool III.
SUB-POOL III PRINCIPAL BALANCE: As of any date of determination, the
aggregate Principal Balances of the Sub-Pool III Mortgage Loans.
SUB-POOL III SUBSEQUENT MORTGAGE LOAN: A Sub-Pool III Mortgage Loan
assigned and transferred by the Depositor to the Trustee pursuant to Section
2.10, such Sub-Pool III Mortgage Loan being identified on the related Mortgage
Loan Schedule attached to a Sub-Pool III Subsequent Transfer Instrument.
SUB-POOL III 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 III
Subsequent Mortgage Loans are transferred and assigned to the Trustee.
SUB-POOL IV: (i) the Sub-Pool IV 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 IV or are deposited, with respect to
Sub-Pool IV, in the Group 2 Certificate Account, Group 2 Trustee Expense
Account, Group 2 Reserve Account, Sub-Pool IV Pre-Funding Account, Sub-Pool IV
Interest Coverage Account, the Sub-Pool IV Pre-Funding Account or the Sub-Pool
IV Principal and Interest Account, including any amounts on deposit in the
foregoing accounts and invested in Permitted Instruments, (iii) the Trustee's
rights under all insurance policies with respect to the Sub-Pool IV 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 IV Mortgage Loans and (vi)
Released Mortgaged Property Proceeds with respect to Sub-Pool IV Mortgage Loans.
The Depositor's Yield and amounts received after the Cut-off Date in the case of
the Sub-Pool IV Initial Mortgage Loans, or after a Subsequent Cut-off Date in
the case of the Sub-Pool IV Subsequent Mortgage Loans, in respect of interest
accrued on the Sub-Pool IV 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
IV.
SUB-POOL IV INITIAL MORTGAGE LOANS: The Initial Mortgage Loans with respect
to Sub-Pool IV.
SUB-POOL IV INTEREST COVERAGE ACCOUNT: The Interest Coverage Account with
respect to Sub-Pool IV.
SUB-POOL IV MORTGAGE LOANS. The Mortgage Loans subject to this Agreement
included in Sub-Pool IV.
SUB-POOL IV PRE-FUNDING ACCOUNT: The Pre-Funding Account with respect to
Sub-Pool IV.
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SUB-POOL IV PRINCIPAL AND INTEREST ACCOUNT: The Principal and Interest
Account with respect to Sub-Pool IV.
SUB-POOL IV PRINCIPAL BALANCE: As of any date of determination, the
aggregate Principal Balances of the Sub-Pool IV Mortgage Loans.
SUB-POOL IV SUBSEQUENT MORTGAGE LOAN: A Sub-Pool IV Mortgage Loan assigned
and transferred by the Depositor to the Trustee pursuant to Section 2.10, such
Sub-Pool IV Mortgage Loan being identified on the related Mortgage Loan Schedule
attached to a Sub-Pool IV Subsequent Transfer Instrument.
SUB-POOL IV 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 IV
Subsequent Mortgage Loans are transferred and assigned to the Trustee.
SUBORDINATED AMOUNT: With respect to each Group, 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 Group 1 Subsequent Mortgage Loan or a Group 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
February 24, 1998.
SUBSEQUENT TRANSFER INSTRUMENT: A Sub-Pool I Subsequent Transfer
Instrument, a Sub-Pool II Subsequent Transfer Instrument, a Sub-Pool III
Subsequent Transfer Instrument or a Sub-Pool IV 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.
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 Group 1, a trigger event shall occur if (i)
with respect to any Determination Date occurring prior to December 2002, the sum
of (x) the aggregate Realized Losses with respect to Group 1 experienced as of
such Determination Date and (y) the Delinquency Calculation Amount with respect
to such Determination Date exceeds $11,149,434 or (ii) with respect to any
Determination Date occurring prior to December 2007, the sum of (x) the
aggregate Realized Losses with respect to Group 1 experienced as of such
Determination Date and (y) the Delinquency Calculation Amount with respect
thereto exceeds $16,724,151.
With respect to Group 2, a trigger event shall occur if (i) with respect to
any Determination Date occurring prior to December 2002, the sum of (x) the
aggregate Realized Losses with respect to Group 2 experienced as of such
Determination Date and (y) the Delinquency Calculation Amount with respect to
such Determination Date exceeds $9,058,945 or (ii) with respect to any
Determination Date occurring prior to December 2007, the sum of (x) the
aggregate Realized Losses with respect to Group 2 experienced as of such
Determination Date and (y) the Delinquency Calculation Amount with respect
thereto exceeds $13,588,418.
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TRUST: AFC Mortgage Loan Asset Backed Certificates, Series 1997-4.
TRUST FUND: Collectively, Group 1 and Group 2.
TRUST FUND REMIC: The Trust Fund, exclusive of the Interest Coverage
Accounts established pursuant to Section 6.13.
TRUSTEE: LaSalle National Bank, or its successor in interest, or any
successor trustee appointed as herein provided.
TRUSTEE EXPENSE ACCOUNT: With respect to each Group, the account
established and maintained by the Trustee in accordance with Section 6.03. With
respect to Group 1, the Trustee Expense Account shall be known as the Group 1
Trustee Expense Account and with respect to Group 2, the Trustee Expense Account
shall be known as the Group 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 (other than a
partnership that is not treated as a United States person under any applicable
Treasury regulations), or an estate whose income is subject to United States
federal income tax regardless of its source, or a trust other than a "foreign
trust" within the meaning of Section 7701(a)(31) of the Code.
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 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 February 25, 1998), 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-
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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 Section 6.06(c)(A)(X)(ii) and
6.06(c)(A)(Y)(ii) with respect to Group 1 and Sections 6.06(c)(B)(X)(ii) and
6.06(c)(B)(Y)(ii) with respect to Group 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 Group 1 shall be allocated among
Holders of Class 1A-1 Certificates and Class 1A-2 Certificates in the proportion
that the related Class Principal Balance bears to the sum of the Class 1A-1
Principal Balance and the Class 1A-2 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 Group 2 shall be allocated among Holders of
Class 2A-1 Certificates and Class 2A-2 Certificates in the proportion that the
related Class Principal Balance bears to the sum of the Class 2A-1 Principal
Balance and Class 2A-2 Principal Balance, and allocated among the Certificates
of each such class 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 Group 1 and
Group 2 Mortgage Loans, together with any amounts due after the Cut-off Date
with respect to the Initial Mortgage Loans or after a Subsequent Cut-off Date
with respect to the Subsequent Mortgage Loans (other than the Depositor's
Yield), and all other assets included or to be included in the Trust Fund for
the benefit of the Certificateholders.
(b) The rights of the Certificateholders to receive payments with respect
to the Mortgage Loans in respect of the Certificates, and all ownership
interests of the Certificateholders in such payments, shall be as set forth in
this Agreement. In this regard, all rights of the Class R Certificateholders to
receive payments in respect of the Class R Certificates are subject and
subordinate to the preferential rights of the Class A Certificateholders to
receive payments in respect of the Class A Certificates, to the extent set forth
herein. In accordance with the foregoing, the ownership interest of the Class R
Certificateholders in amounts deposited in the Principal and Interest Accounts
and the Certificate Accounts from time to time shall not vest unless and until
such amounts are distributed in respect of the Class R Certificates in
accordance with the terms of this Agreement.
Section 2.02 Possession of Mortgage Files.
(a) Upon the issuance of the Certificates, and upon delivery of each
Subsequent Mortgage Loan or Qualified Substitute Mortgage Loan, the ownership of
each Mortgage Note, the Mortgage and the contents of the related Mortgage File
is vested in the Trustee for the benefit of the Certificateholders.
(b) Pursuant to Section 2.04, the Depositor has delivered or caused to be
delivered to the Trustee or the Custodian each Trustee's Mortgage File with
respect to the Initial Mortgage Loans.
Section 2.03 Books and Records.
The sale of each Mortgage Loan shall be reflected on the Depositor's
balance sheets and other financial statements as a sale of assets by the
Depositor. The Depositor shall be responsible for maintaining, and shall
maintain, a complete set of books and records for each Mortgage Loan which shall
be clearly marked to reflect the ownership of each Mortgage Loan by the Trustee
for the benefit of the Certificateholders.
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Section 2.04 Delivery of Mortgage Loan Documents.
The Depositor, contemporaneously with the delivery of this Agreement, has
delivered or caused to be delivered to the Trustee or, if a Custodian has been
appointed pursuant to Section 12.12, to the Custodian, the Certificate Insurance
Policy and each of the following documents for each Initial Mortgage Loan. The
Depositor, contemporaneously with delivery of a Subsequent Transfer Instrument,
shall deliver or cause to be delivered to the Trustee or, if a Custodian has
been appointed pursuant to Section 12.12, to the Custodian, each of the
following documents for each related Subsequent Mortgage Loan:
(a) The original Mortgage Note, showing a complete chain of endorsements
and endorsed by the last endorsee thereof, "Pay to the order of
_____________________ [or LaSalle National Bank, as Trustee under the Pooling
and Servicing Agreement, dated as of December 1, 1997, Series 1997-4,] without
recourse" and signed, by facsimile or manual signature, by such last endorsee.
(b) Either: (i) the original Mortgage, with evidence of recording thereon,
(ii) a copy of the Mortgage certified as a true copy by a Responsible Officer of
the Depositor or by the closing attorney, or by an officer of the title insurer
or agent of the title insurer which issued the related title insurance policy,
or commitment therefor, if the original has been transmitted for recording until
such time as the original is returned by the public recording office or (iii) a
copy of the Mortgage certified by the public recording office in those instances
where the original recorded Mortgage has been lost;
(c) Either: (i) (A) the original Assignment of Mortgage from the last
assignee of the related Mortgage assigned to the Trustee, with evidence of
recording thereon, or (B) an original assignment of mortgage from the last
assignee of the related Mortgage assigned in blank, or (ii) if an original
Assignment of Mortgage has not yet been provided in accordance with clause (i),
an Assignment of Mortgage to the Trustee, certified by an appropriate officer or
approved signatory of the Depositor or the closing attorney or any officer of
the title insurer that issued the related title insurance policy, or commitment
therefor, or its duly authorized agent, as being a true and complete copy of the
original of such Assignment of Mortgage to the Trustee submitted for recording
(provided, however, that an appropriate officer or approved signatory of the
Depositor may complete one or more blanket certificates attaching copies of one
or more Assignments of Mortgage to the Trustee relating thereto) or (iii) a copy
of such original Assignment of Mortgage to the Trustee, with evidence of
recording thereon, certified to be true and complete by the Depositor or the
appropriate public recording office, in those instances where such original
Assignment of Mortgage has been recorded but subsequently lost; any such
Assignment of Mortgage may be made by blanket assignments for Mortgage Loans
secured by the Mortgaged Properties located in the same county, if permitted by
applicable law;
(d) The original policy of title insurance or a true copy thereof or, if
such policy has not yet been delivered by the insurer, the commitment or binder
to issue same 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, Mixed Use Loan and Commercial 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,
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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 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, under the Pooling and
Servicing Agreement, dated as of December 1, 1997, Series 1997-4" 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 1997-4, 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
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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 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, Mixed
Use Loans and Commercial Loans, such that the assignee of creditor is listed as
"LaSalle National Bank, as Trustee under the Pooling and Servicing Agreement,
dated as of December 1, 1997, Series 1997-4." 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,
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a receipt by the Custodian) of, for each Mortgage Loan transferred and assigned
to the Trustee on such date, the items listed in Section 2.04 (a) through (f)
above, in the form attached as Exhibit F, and declares that it will hold such
documents and any amendments, replacements or supplements thereto, as well as
any other assets included in the definition of Trust Fund and delivered to the
Trustee or the Custodian, as Trustee in trust upon and subject to the conditions
set forth herein for the benefit of the Certificateholders. The Trustee or
Custodian (such Custodian being so obligated under a Custodial Agreement)
agrees, for the benefit of the Certificateholders, to review (or cause to be
reviewed) each Trustee's Mortgage File within 45 days after the Closing Date
(or, with respect to any Subsequent Mortgage Loan or Qualified Substitute
Mortgage Loan, within 45 days after the receipt by the Trustee or Custodian
thereof) and to deliver to the Depositor, the Servicer and the Certificate
Insurer a certification in the form attached hereto as Exhibit F-1 to the effect
that, as to each Mortgage Loan listed in the 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
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may conclusively rely on the Depositor as to the purported genuineness of any
such document and any signature thereon. It is understood that the scope of the
Trustee's review of the Mortgage Files is limited solely to confirming that the
documents listed in Section 2.04 above (other than the items listed in Section
2.04(f) above) have been received and further confirming that any and all
documents delivered pursuant to such Section 2.04 have been executed and relate
to the Mortgage Loans identified in the related Mortgage Loan Schedule. The
Trustee shall have no responsibility for determining whether any document is
valid and binding, whether the text of any assignment or endorsement is in
proper or recordable form, whether any document has been recorded in accordance
with the requirements of any applicable jurisdiction, or whether a blanket
assignment is permitted in any applicable jurisdiction. The Depositor agrees to
use reasonable efforts to remedy a material defect in a document constituting
part of a Trustee's Mortgage File of which it is so notified by the Trustee. If,
however, within 60 days after the Trustee's or Custodian's notice to it
respecting such defect the Depositor has not remedied the defect and the defect
materially and adversely affects the interest of the Certificateholders in the
related Mortgage Loan or the interests of the Certificate Insurer, the Depositor
will on the Determination Date next succeeding the end of such 60 day period (i)
substitute in lieu of such Mortgage Loan a Qualified Substitute Mortgage Loan in
the manner and subject to the conditions set forth in Section 3.03 or (ii)
purchase such Mortgage Loan at a purchase price equal to the Principal Balance
of such Mortgage Loan as of the date of purchase, plus all accrued and unpaid
interest on such Mortgage Loan to but not including the Due Date in the Due
Period most recently ended prior to such Determination Date computed at the
Mortgage Rate plus the amount of any unreimbursed Servicing Advances made by the
Servicer with respect to such Mortgage Loan, which purchase price shall be
deposited in the Principal and Interest Account (after deducting therefrom any
amounts received in respect of such repurchased Mortgage Loan and being held in
the related Principal and Interest Account for future distribution to the extent
such amounts represent recoveries of principal not yet applied to reduce the
related Principal Balance or interest (net of the Servicing Fee) for the period
from and after the Due Date in the Due Period most recently ended prior to such
Determination Date). For purposes of calculating the Available Remittance Amount
for any Remittance Date, amounts paid by the Depositor pursuant to this Section
2.05 in connection with the repurchase or substitution of any Mortgage Loan that
are on deposit in the related Principal and Interest Account as of the
Determination Date for such Remittance Date shall be deemed to have been paid
during the related Due Period and shall be transferred to the related
Certificate Account pursuant to Section 5.04(i) on the Determination Date for
such Remittance Date.
(c) Upon receipt by the Trustee of a certification of a Servicing Officer
of the Servicer of such substitution or purchase and the deposit of the amounts
described above in the related Principal and Interest Account (which
certification shall be in the form of Exhibit I), the Trustee shall release (or
cause to be released) to the Servicer for release to the Depositor the related
Trustee's Mortgage File and shall execute, without recourse, representation or
warranty, and deliver such instruments of transfer presented to it by the
Servicer as shall be necessary to transfer such Mortgage Loan to the Depositor.
On the Remittance Date in January of each year, the Trustee or the
Custodian, if any, shall deliver to the Depositor, the Servicer and the
Certificate Insurer a certification detailing
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all releases with respect to the Mortgage Loans for which the Trustee or the
Custodian holds a Trustee's Mortgage File pursuant to this Agreement. Such
certification shall be limited to a list of all Trustee's Mortgage Files which
were released by or returned to the Trustee or the Custodian during the prior
calendar year, the date of such release or return, the reason for such release
or return, and the Person to whom the Trustee's Mortgage File was released and
the Person who returned the Trustee's Mortgage File.
Section 2.06 [Reserved].
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
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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 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;
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(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 Group 1, and
Section 2.10(d) with respect to Group 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 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 Group 1 Subsequent Mortgage Loans on a Subsequent
Transfer Date is subject to the following representations and warranties of the
Depositor: (i) each Group 1 Subsequent Mortgage Loan must satisfy the
representations and warranties specified in the 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 Group 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 60 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% for
Sub-Pool I or 8.00% for Sub-Pool II; (E) such Subsequent Mortgage Loan will be
underwritten in accordance with the criteria set forth under "The
Depositor--Underwriting Criteria--Group 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 92%; and (H) such
Subsequent Mortgage Loans will have (1) as of the end of the Group 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 April 1998. In addition, following the purchase of any Group 1
Subsequent Mortgage Loan by the Trust Fund, the Sub-Pool I Mortgage Loans
(including the related Group 1 Subsequent Mortgage Loans) as of the end of the
Group 1 Funding Period will: (i) have a weighted average Mortgage Rate of at
least 10.65%; (ii) have a weighted average remaining term to stated maturity of
not more than 300 months and not less than 220 months; (iii) have a weighted
average Combined Loan-to-Value Ratio of not more than 81%; (iv) have not in
excess of 50% by aggregate principal balance of Sub-Pool I Mortgage Loans that
are Balloon Mortgage Loans; (v) have no Sub-Pool I
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Mortgage Loan with a principal balance in excess of $214,000; (vi)
not have in excess of 15% by aggregate principal balance of Sub-Pool I 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 I Mortgage Loans; (viii) not have any
Sub-Pool I Mortgage Loans secured by Mortgaged Properties that are condominiums;
(ix) have at least 100% by aggregate principal balance of Sub-Pool I Mortgage
Loans secured by fee simple interests in attached or detached Single Family
Properties; (x) not have any Sub-Pool I Mortgage Loans secured by Multifamily
Properties, Mixed Use Properties or Commercial Properties; and (xi) not have any
Sub-Pool I Mortgage Loans secured by Manufactured Homes. In addition, following
the purchase of any Group 1 Subsequent Mortgage Loan by the Trust Fund, the
Sub-Pool II Mortgage Loans (including the Group 1 Subsequent Mortgage Loans) as
of the end of the Group 1 Funding Period will: (i) have a weighted average
Mortgage Rate of at least 10.90%; (ii) have a weighted average remaining term to
stated maturity of not more than 270 months and not less than 176 months; (iii)
have a weighted average Combined Loan-to-Value Ratio of not more than 80%; (iv)
have not in excess of 50% by aggregate principal balance of Sub-Pool II Mortgage
Loans that are Balloon Mortgage Loans; (v) have no Sub-Pool II Mortgage Loan
with a principal balance in excess of $950,000; (vi) not have in excess of 25%
by aggregate principal balance of Sub-Pool II 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 II Mortgage Loans; (viii) not have in excess of 5% by
aggregate principal balance of Sub-Pool II Mortgage Loans secured by Mortgaged
Properties that are condominiums; (ix) have at least 55% by aggregate principal
balance of Sub-Pool II 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 25% by aggregate principal balance of
Sub-Pool II Mortgage Loans secured by Multifamily Properties, Mixed Use
Properties and Commercial Properties; and (xi) not have in excess of 10% by
aggregate principal balance of Sub-Pool II Mortgage Loans secured by
Manufactured Homes. In the sole discretion of the Certificate Insurer, Group 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 Group 1.
(d) Any conveyance of Group 2 Subsequent Mortgage Loans on a 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 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 Group 2 Subsequent Mortgage Loans will
satisfy the following criteria: (A) such Group 2 Subsequent Mortgage Loan may
not be 30 or more days contractually delinquent as of the related Group 2
Subsequent Cut-off Date; (B) the original term to maturity of such Group 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 2.70%; (E) such Subsequent Mortgage Loan will be underwritten in
accordance with the criteria set forth under
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"The Depositor--Underwriting Criteria--Group 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 93%; (H) such subsequent Mortgage
Loan will have a Maximum Mortgage Rate not less than 12% and (I) such Subsequent
Mortgage Loans will have (1) as of the end of the Group 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 April
1998. In addition, following the purchase of any Group 2 Subsequent Mortgage
Loan by the Trust Fund, the Sub-Pool III Mortgage Loans (including the related
Group 2 Subsequent Mortgage Loans) as of the end of the Group 2 Funding Period
will: (i) have a weighted average Gross Margin of at least 5.30% and a weighted
average coupon of at least 9.76%; (ii) have a weighted average remaining term to
stated maturity of not more than 358 months and not less than 300 months; (iii)
have a weighted average Loan-to-Value Ratio of not more than 84%; (iv) have no
Sub-Pool III Mortgage Loan with a principal balance in excess of $214,000; (v)
not have in excess of 10% by aggregate principal balance of Sub-Pool III
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 III Mortgage Loans; (vii) not have in
excess of 5% by aggregate principal balance of Sub-Pool III Mortgage Loans
secured by Mortgaged Properties that are condominiums; (viii) have at least 100%
by aggregate principal balance of Sub-Pool III Mortgage Loans secured by fee
simple interests in attached or detached Single Family Properties; (ix) will not
be secured by Multifamily Properties; (x) will not be secured by Mixed Use
Properties; (xi) will not be secured by Commercial Properties; and (xii) will
not be secured by Manufactured Homes. In addition, following the purchase of any
Group 2 Subsequent Mortgage Loan by the Trust Fund, the Sub-Pool IV Mortgage
Loans (including the related Group 2 Subsequent Mortgage Loans) as of the end of
the Group 2 Funding Period will: (i) have a weighted average Gross Margin of at
least 5.25% and a weighted average coupon of at least 9.67%; (ii) have a
weighted average remaining term to stated maturity of not more than 355 months
and not less than 348 months; (iii) have a weighted average Loan-to-Value Ratio
of not more than 84%; (iv) have no Sub-Pool IV Mortgage Loan with a principal
balance in excess of $950,000; (v) not have in excess of 10% by aggregate
principal balance of Sub-Pool IV 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 IV
Mortgage Loans; (vii) not have any Sub-Pool IV Mortgage Loans secured by
Mortgaged Properties that are condominiums; (viii) have at least 72% by
aggregate principal balance of Sub-Pool IV Mortgage Loans secured by fee simple
interests in attached or detached Single Family Properties; (ix) will not be
secured by Multifamily Properties; (x) will not be secured by Mixed Use
Properties; (xi) will not be secured by Commercial Properties; and (xii) not
have in excess of 5% by aggregate principal balance of the Sub-Pool IV Mortgage
Loans secured by Manufactured Homes. In the sole discretion of the Certificate
Insurer, Group 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 Group 2 Mortgage Loans will not materially
affect the aggregate characteristics of Group 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 subject,
or
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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 Group 1, and legal, proper,
prudent and customary in the first mortgage origination and servicing business
with respect to Group 2; and
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(j) Considering the size of each Pre-Funding Account and the frequency of
prepayments, defaults, "fall-out" due to the borrower choosing another lender or
exercising its right of rescission, defective documentation and other
circumstances that would disqualify a mortgage loan from being purchased as a
Subsequent Mortgage Loan hereunder, the mortgage loans listed on each Proposed
Subsequent Mortgage Loan Schedule do not represent an unreasonably large pool of
mortgage loans from which to obtain the majority of the related Subsequent
Mortgage Loans.
Section 3.02 Individual Mortgage Loans.
(a) With respect to the Mortgage Loans, the Depositor hereby represents and
warrants to the Trustee, the Certificate Insurer and the Certificateholders,
with respect to each Initial Mortgage Loan, as of the Closing Date, and with
respect to each Subsequent Mortgage Loan, as of the related Subsequent Transfer
Date the following, subject to Section 2.10(c) and 2.10(d) above and modified to
the extent stated therein in the case of Subsequent Mortgage Loans:
(i) The information with respect to each Mortgage Loan set forth in
the related Mortgage Loan Schedule is true and correct;
(ii) All of the original or certified documentation required to be
delivered by the Depositor to the Trustee or to the Custodian on the
Closing Date or a Subsequent Transfer Date or as otherwise provided in
Section 2.04 above has or will be so delivered as provided;
(iii) Each Mortgaged Property is improved by a Single Family Property,
Multifamily Property, Mixed Use Property or Commercial 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
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Mortgage Note or the Mortgage unenforceable in whole or in part, or subject
to any right of rescission, set-off, counterclaim or defense, including the
defense of usury, and no such right of rescission, set-off, counterclaim or
defense has been asserted with respect thereto;
(viii) There is no mechanics' lien or claim for work, labor or
material affecting any Mortgaged Property which is or may be a lien prior
to, or equal with, the lien of such Mortgage except those which are insured
against by the title insurance policy referred to in Section 3.02(a)(x)
below;
(ix) Each Mortgage Loan at the time it was made complied in all
material respects with applicable state and federal laws and regulations,
including, without limitation, usury, equal credit opportunity and
disclosure laws;
(x) With respect to each Mortgage Loan, a written commitment for a
lender's title insurance policy, issued in standard American Land Title
Association or California Land Title Association form, or other form
acceptable in a particular jurisdiction, by a title insurance company
authorized to transact business in the state in which the related Mortgaged
Property is situated, together with a condominium endorsement or a
manufactured housing unit (American Land Title Association 7) endorsement
(stating that the insurer 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 Group 1, or a valid first mortgage lien of record
with respect to Group 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
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similar laws affecting the enforcement of creditors' rights generally and
by general principles of equity (whether considered in a proceeding or
action in equity or at law), and all parties to each Mortgage Loan had full
legal capacity to execute all Mortgage Loan documents and convey the estate
therein purported to be conveyed;
(xiv) The Depositor has caused or will cause to be performed any and
all acts required to be performed to preserve the rights and remedies of
the Trustee in any insurance policies applicable to the Mortgage Loans
including, without limitation, any necessary notifications of insurers,
assignments of policies or interests therein, and establishments of
co-insured, joint loss payee and mortgagee rights in favor of the Trustee;
(xv) The terms of the Mortgage Note and the Mortgage have not been
impaired, altered or modified in any material respect, except by a written
instrument which has been recorded or is in the process of being recorded,
if necessary, to protect the interest of the Certificateholders and which
has been or will be delivered to the Trustee or the Custodian. The
substance of any such alteration or modification is reflected on the
related Mortgage Loan Schedule. Each original Mortgage was recorded, and
all subsequent assignments of the original Mortgage have been recorded in
the appropriate jurisdictions wherein such recordation is necessary to
perfect the lien thereof as against creditors of the Depositor (or, subject
to Section 2.04 above, are in the process of being recorded, or are, in the
Opinion of Counsel to the Depositor, not required to be recorded);
(xvi) No instrument of release or waiver has been executed in
connection with the Mortgage Loan, and no Mortgagor has been released, in
whole or in part;
(xvii) There are no defaults in complying with the terms of the
Mortgage, and all taxes, governmental assessments, insurance premiums,
water, sewer and municipal charges, leasehold payments or ground rents
which previously became due and owing have been paid, or an escrow of funds
has been established in an amount sufficient to pay for every such item
which remains unpaid and which has been assessed but is not yet due and
payable. Except for payments in the nature of escrow payments, including
without limitation, taxes and insurance payments, the Servicer has not
advanced funds, or induced, solicited or knowingly received any advance of
funds by a party other than the Mortgagor, directly or indirectly, for the
payment of any amount required by the Mortgage, except for interest
accruing from the date of the Mortgage Note or date of disbursement of the
Mortgage proceeds, whichever is greater, to the day which precedes by one
month the Due Date of the first installment of principal and interest;
(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
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lie wholly within the boundaries and building restriction lines of such
property, and no improvements on adjoining properties encroach upon the
Mortgaged Property;
(xx) To the best of the Depositor's knowledge, no improvement located
on or being part of the Mortgaged Property is in violation of any
applicable zoning law or regulation. To the best of the Depositor's
knowledge, all inspections, licenses and certificates required to be made
or issued with respect to all occupied portions of the Mortgaged Property
and, with respect to the use and occupancy of the same, including but not
limited to certificates of occupancy and fire underwriting certificates,
have been made or obtained from the appropriate authorities and the
Mortgaged Property is lawfully occupied under applicable law;
(xxi) The proceeds of the Mortgage Loan have been fully disbursed, and
there is no obligation on the part of the mortgagee to make future advances
thereunder. Any and all requirements as to completion of any on-site or
off-site improvements and as to disbursements of any escrow funds therefor
have been complied with. All costs, fees and expenses incurred in making or
closing or recording the Mortgage Loans were paid;
(xxii) Except with respect to certain of the Multifamily Loans, Mixed
Use Loans and Commercial 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, Mixed Use Loans and Commercial 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 and with respect to such
Periodic Payment Loans no interest may be deferred after the Cut-off Date.
No Group 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)
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organized under the laws of such state, or (B) qualified to do business in
such state, or (C) federal savings and loan associations or national banks
having principal offices in such state, or (D) not doing business in such
state so as to require qualification or licensing;
(xxviii) The Mortgage contains a customary provision for the
acceleration of the payment of the unpaid principal balance of the Mortgage
Loan in the event the related Mortgaged Property is sold without the prior
consent of the mortgagee thereunder;
(xix) Any future advances made prior to (and excluding) the Cut-off
Date have been consolidated with the outstanding principal amount secured
by the Mortgage, and the secured principal amount, as consolidated, bears a
single interest rate and single repayment term reflected on the related
Mortgage Loan Schedule. The consolidated principal amount does not exceed
the original principal amount of the Mortgage Loan. The Mortgage Note does
not permit or obligate the Servicer to make future advances to the
Mortgagor at the option of the Mortgagor;
(xxx) The related Mortgage contains customary and enforceable
provisions which render the rights and remedies of the holder thereof
adequate for the realization against the Mortgaged Property of the benefits
of the security, including, (a) in the case of a Mortgage designated as a
deed of trust, by trustee's sale, and (b) otherwise by judicial
foreclosure. There is no homestead or other exemption available to the
Mortgagor which would materially interfere with the right to sell the
Mortgaged Property at a trustee's sale or the right to foreclose the
Mortgage except as set forth in the Prospectus;
(xxxi) There is no default, breach, violation or event of acceleration
existing under the Mortgage or the related Mortgage Note and no event
which, with the passage of time or with notice and the expiration of any
grace or cure period, would constitute a default, breach, violation or
event of acceleration; and neither the Servicer nor the Depositor has
waived any default, breach, violation or event of acceleration;
(xxxii) All parties to the Mortgage Note and the Mortgage had legal
capacity to execute the Mortgage Note and the Mortgage and each Mortgage
Note and Mortgage have been duly and properly executed by such parties;
(xxxiii) All amounts received after the Cut-off Date with respect to
the Mortgage Loans (other than the Depositor's Yield and amounts in respect
of interest accrued on 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;
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(xxxvi) A full appraisal was performed in connection with each
Mortgaged Property;
(xxxvii) As of the Cut-off Date, the Depositor does not know or have
reason to know of any circumstances that would cause any Mortgagor to
default under its Mortgage Loan or the related Mortgage Note;
(xxxviii) As of the Cut-Off Date, with respect to any Mortgaged
Property, the Depositor has no actual knowledge that there exist any
hazardous substances, hazardous wastes or solid wastes, as such terms are
defined in CERCLA, or other federal, state or local environmental
legislation; and
(xxxix) With respect to each Mortgaged Property subject to a land
trust (a "Land Trust Mortgage") (i) a trustee, duly qualified under
applicable law to serve as such, has been properly designated and currently
so serves and is named as such in the land trust agreement and such trustee
is named in the Land Trust Mortgage as Mortgagor; (ii) all fees and
expenses of the land trustee which have previously become due on owing have
been paid and no fees or expenses are or will become payable by the
Certificateholders or the Trust to the land trustee under the land trust
agreement; (iii) the beneficiary is solely obligated to pay any fees and
expenses of the land trustee and the priority of the lien of the Land Trust
Mortgage is not and will not be primed by the land trustee; (iv) if the
Mortgaged Property is owner-occupied, the Mortgaged Property is occupied by
the beneficiary under the land trust agreement and, if such land trust
agreement terminates, the beneficiary will become the owner of the
Mortgaged Property; (v) the beneficiary is obligated to make payments under
the Note and will have personal liability for deficiency judgments to the
extent permitted by law; (vi) the Land Trust Mortgages were made in
compliance with their respective land trust agreements, were validly
entered into by their respective land trust trustee and did not, do not
currently, and will not in the future, violate any provision of their
respective land trust agreement, nor any agreement between or amongst the
beneficiaries of any one land trust; (vii) the Land Trust Mortgages are the
first (or in the case of Group 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.
(xl) 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.
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(xli) 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 Group 1 Mortgage Loans, the Depositor hereby
represents and warrants to the Trustee, the Certificate Insurer and the
Certificateholders, with respect to each Group 1 Initial Mortgage Loan, as of
the Closing Date, and with respect to each Group 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 Group 1
Subsequent Mortgage Loans; provided, however, that in the case of the Subsequent
Mortgage Loans, reference to the "Original Group 1 Principal Balance" shall mean
the Original Group 1 Principal Balance plus the aggregate principal balance of
the Group 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 28.56% of the Original Group 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. Mortgage Loans constituting approximately 12.94% of the Original
Group 1 Principal Balance are Periodic Payment Loans. Mortgage Loans
constituting approximately 12.78% of the Original Group 1 Principal Balance
are Periodic Payment Loans the Mortgage Notes of which provide that the
related Mortgagors have the option at any time during the term of the
related Periodic Payment Loan, to use a limited number of payment vouchers
provided to them at origination in order to defer the payment of the
principal portion of the corresponding Periodic Payment and pay only the
interest portion due on such payment date. 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) With respect to each Mortgage Loan secured by a second priority
lien, the related First Lien requires equal monthly payments, or if it
bears an adjustable interest rate, the monthly payments for the related
First Lien may be adjusted no more frequently than monthly; with respect to
substantially all of the Mortgage Loans secured by a second priority lien,
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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;
(v) 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;
(vi) 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;
(vii) 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%;
(viii) Approximately 74.40% of the Original Group 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;
(ix) The Mortgage Rate as of the Cut-off Date is not less than
approximately 8.250% and not more than approximately 16.00%;
(x) As of the Cut-off Date, no payment on any Mortgage Loan is 30 days
or more delinquent (two or more payments missed). Two Mortgage Loans
secured by Single Family Properties have been 30 days delinquent (two
payments missed) on one occasion prior to the Cut-Off Date; and
(xi) No more than approximately 1.09% of the Original Sub-Pool I
Principal Balance is secured by Mortgaged Properties located within any
single zip code area;
(xii) Approximately 95.07% of the Original Sub-Pool I Principal
Balance is secured by Mortgaged Properties that are maintained by the
Mortgagors as primary residences, approximately 0.21% of the Original
Sub-Pool I Principal Balance is secured by Mortgaged Properties that are
maintained by the Mortgagors as second homes, and approximately 95.28% of
the Original Sub-Pool I Principal Balance is secured by Owner-Occupied
Mortgaged Property. Approximately 4.72% of the Original Sub-Pool I
Principal Balance is secured by investor properties;
(xiii) Approximately 100.00% of the Original Sub-Pool I Principal
Balance is secured by attached or detached one-family dwelling units. None
of the Sub-Pool I Mortgage Loans are secured by Multifamily Properties,
Mixed-Use Properties, Commercial Properties, Manufactured Homes,
condominiums, units in a planned unit development or two-to four family
dwelling units.
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(xiv) Approximately 30.71% of the Sub-Pool I Initial Mortgage Loans
are Balloon Loans and approximately 15.91% of the Sub-Pool I Initial
Mortgage Loans are Periodic Payment Loans which may become Balloon Loans;
(xv) No more than approximately 1.56% of the Original Sub-Pool II
Principal Balance is secured by Mortgaged Properties located within any
single zip code area;
(xvi) Approximately 86.22% of the Original Sub-Pool II Principal
Balance is secured by Mortgaged Properties that are maintained by the
Mortgagors as primary residences, approximately 0.67% of the Original
Sub-Pool II Principal Balance is secured by Mortgaged Properties that are
maintained by the Mortgagors as second homes, and approximately 86.89% of
the Original Sub-Pool II Principal Balance is secured by Owner-Occupied
Mortgaged Property. Approximately 32.35% of the Original Sub-Pool II
Principal Balance is secured by investor properties;
(xvii) Approximately 59.06% of the Original Sub-Pool II Principal
Balance is secured by attached or detached one-family dwelling units (not
including Manufactured Homes). Approximately 0.74% of the Original Sub-Pool
II Principal Balance is secured by units in condominiums. Approximately
4.95% of the Original Sub-Pool II Principal Balance is secured by
Manufactured Homes. No more than approximately 17.00% of the Original
Sub-Pool II Principal Balance is secured by units in properties consisting
of two- to four-family dwelling units. Approximately 3.45% of the Original
Sub-Pool II Principal Balance is secured by units in a planned unit
development. Approximately 7.68% of the Original Sub-Pool II Principal
Balance is secured by Multifamily Properties, and no more than
approximately 5.19% of the Original Sub-Pool II Principal Balance is
secured by Mixed Use Properties. No more than 1.94% of the Original
Sub-Pool II Principal Balance is secured by Commercial Properties.
(xviii) Approximately 27.43% of the Sub-Pool II Initial Mortgage Loans
are Balloon Loans and approximately 11.36% of the Sub-Pool II Initial
Mortgage Loans are Periodic Payment Loans which may become Balloon Loans.
(c) With respect to the Group 2 Mortgage Loans, the Depositor hereby
represents and warrants to the Trustee, the Certificate Insurer and the
Certificateholders, with respect to each Group 2 Initial Mortgage Loan, as of
the Closing Date, and with respect to each Group 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 Group 2
Subsequent Mortgage Loans; provided, however, that in the case of the Subsequent
Mortgage Loans, reference to the "Original Group 2 Principal Balance" shall mean
the Original Group 2 Principal Balance plus the aggregate principal balance of
the Group 2 Subsequent Mortgage Loans as of the end of the Funding Period:
(i) None of the Mortgage Loans are balloon loans. Approximately 10.20%
of the Original Group 2 Principal Balance is subject to a One Year Treasury
Index, and approximately 89.80% of the Original Group 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
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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,
twenty-four month or sixty 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) 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;
(iv) The Gross Margins on the Mortgage Loans range from approximately
2.750% to 9.400% and the weighted average Gross Margin as of the Cut-off
Date is approximately 6.075%;
(v) Approximately 53.04% of the Original Group 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;
(vi) The Mortgage Rates borne by the Mortgage Loans as of the Cut-off
Date range from 6.125% per annum to 13.875% and the weighted average
Mortgage Rate as of the Cut-off Date is 10.185% per annum;
(vii) Each Mortgage Loan that was originated on or after January 30,
1992 has an initial or next Adjustment Date no later than December 1, 1999;
(viii) Each Mortgage Loan bears interest based on a 360-day year
consisting of twelve 30-day months;
(ix) 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
secured by a Single Family Property has been 30 days delinquent (two
payments missed) on one occasion prior to the Cut-off Date;
(x) No more than approximately 1.14% of the Original Sub-Pool III
Principal Balance is secured by Mortgaged Properties located within any
single zip code area;
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(xi) 98.28% of the Original Sub-Pool III Principal Balance is secured
by Mortgaged Properties that are maintained by the Mortgagors as primary
residences, none of the Sub-Pool III Mortgage Loans are secured by
Mortgaged Properties that are maintained by the Mortgagors as second homes,
and approximately 98.28% of the Original Sub-Pool III Principal Balance is
secured by Owner Occupied Mortgaged Property;
(xii) Approximately 100.00% of the Original Sub-Pool III Principal
Balance is secured by attached or detached one-family dwelling units.
Approximately 1.72% of the Original Sub-Pool III Principal Balance is
secured by investor properties. None of the Sub-Pool III Mortgage Loans are
secured by Multifamily Properties, Mixed Use Properties, Commercial
Properties, Manufactured Homes, condominiums, units in a planned unit
development or two-to four family dwelling units;
(xiii) No more than approximately 1.49% of the Original Sub-Pool IV
Principal Balance is secured by Mortgaged Properties located within any
single zip code area;
(xiv) 95.93% of the Original Sub-Pool IV Principal Balance is secured
by Mortgaged Properties that are maintained by the Mortgagors as primary
residences, approximately 0.40% of the Original Sub-Pool IV Principal
Balance is secured by Mortgaged Properties that are maintained by the
Mortgagors as second homes and approximately 96.33% of the Original
Sub-Pool IV Principal Balance is secured by Owner Occupied Mortgaged
Property; and
(xv) Approximately 72.58% of the Original Sub-Pool IV Principal
Balance is secured by attached or detached one-family dwelling units (not
including Manufactured Homes). Approximately 1.79% of the Original Sub-Pool
IV Principal Balance is secured by units in condominiums. No more than
approximately 16.74% of the Original Sub-Pool IV Principal Balance is
secured by units in properties consisting of two- to four-family dwelling
units. Approximately 6.99% of the Original Sub-Pool IV Principal Balance is
secured by units in planned unit developments. Approximately 1.91% of the
Original Sub-Pool IV Principal Balance is secured by Manufactured Homes.
Approximately 18.93% of the Original Sub-Pool IV Principal Balance is
secured by investor properties. None of the Sub-Pool IV Mortgage Loans are
secured by Multifamily Properties, Mixed Use Properties or Commercial
Properties.
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 Group 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
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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 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.
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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.
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
2A-1 and Class 2A-2 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
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certification of facts does not on its face establish the availability of an
exemption under the 1933 Act, the Trustee may require an Opinion of Counsel
satisfactory to it that such transfer may be made pursuant to an exemption from
the 1933 Act, which Opinion of Counsel shall not be an expense of the Trustee or
the Trust Fund. None of the Servicer, the Depositor nor the Trustee are
obligated under this Agreement to register the Class R Certificates under the
1933 Act or any other securities law or to take any action not otherwise
required under this Agreement to permit the transfer of such Certificates
without such registration or qualification.
(c) Each Person who has or who acquires any Percentage Interest in a Class
R Certificate shall be deemed by the acceptance or acquisition of such
Percentage Interest to have agreed to be bound by the following provisions and
to have irrevocably appointed the Servicer or its designee as its
attorney-in-fact to negotiate the terms of any mandatory sale under clause (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
transferor substantially in the form attached hereto as Exhibit J-1 to the
effect that (1) such transferor 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
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upon acquiring a Percentage Interest in a Class R Certificate, if it is, or
is holding a Percentage Interest in a Class R Certificate on behalf of, a
"pass-through interest holder."
(v) Any attempted or purported transfer of any Percentage Interest in
a Class R Certificate in violation of the provisions of this Section 4.02
shall be absolutely null and void and shall vest no rights in the purported
transferee. If any purported transferee shall become a Holder of a Class R
Certificate in violation of the provisions of this Section 4.02, then the
last preceding Permitted Transferee shall be restored to all rights as
Holder thereof retroactive to the date of registration of transfer of such
Class R Certificate. The Trustee shall notify the Servicer upon receipt of
written notice or discovery by a Responsible Officer that the registration
of transfer of a Class R Certificate was not in fact permitted by this
Section 4.02. Knowledge shall not be imputed to the Trustee with respect to
an impermissible transfer in the absence of such a written notice or
discovery by a Responsible Officer. The Trustee shall be under no liability
to any Person for any registration of transfer of a Class R Certificate
that is in fact not permitted by this Section 4.02 or for making any
payments due on such Certificate to the Holder thereof or taking any other
action with respect to such Holder under the provisions of this Agreement
so long as the transfer was registered after receipt of the related
Transfer Affidavit and Transfer Certificate. The Trustee shall be entitled,
but not obligated to, recover from any Holder of a Class R Certificate that
was in fact not a Permitted Transferee at the time it became a Holder or,
at such subsequent time as it became other than a Permitted Transferee, all
payments made on such Class R Certificate at and after either such time.
Any such payments so recovered by the Trustee shall be paid and delivered
by the Trustee to the last preceding Holder of such Certificate.
(vi) If any purported transferee shall become a Holder of a Class R
Certificate in violation of the restrictions in this Section 4.02, then the
Servicer or its designee shall have the right, without notice to the Holder
or any prior Holder of such Class R Certificate, to sell such Class R
Certificate to a purchaser selected by the Servicer or its designee on such
reasonable terms as the Servicer or its designee may choose. Such purchaser
may be the Servicer itself or any Affiliate of the Servicer. The proceeds
of such sale, net of commissions, expenses and taxes due, if any, will be
remitted by the Servicer to the last preceding purported transferee of such
Class R Certificate, except that in the event that the Servicer determines
that the Holder or any prior Holder of such Class R Certificate may be
liable for any amount due under this Section 4.02 or any other provision of
this Agreement, the Servicer may withhold a corresponding amount from such
remittance as security for such claim. The terms and conditions of any sale
under this clause (vi) shall be determined in the sole discretion of 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
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inclusions" of such Class R Certificates required to be provided to the
Internal Revenue Service and certain Persons as described in Treasury
Regulations Sections 1.860D-1(b)(5) and 1.860E-2(a)(5), and (B) as a result
of any regulated investment company, real estate investment trust, common
trust fund, partnership, trust, estate or organization described in Section
1381 of the Code that holds a Percentage Interest in a Class R Certificate
having as among its record holders at any time any Person who is a
Disqualified Organization. Reasonable compensation for providing such
information may be required by the Servicer from such Person.
Transfers of the Class R Certificates to Persons other than Permitted
Transferees are prohibited.
No transfer of a Class R Certificate or any interest therein shall be made
to any employee benefit plan or other retirement arrangement, including
individual retirement accounts and annuities, Keogh plans and collective
investment funds and separate accounts in which such plans, accounts or
arrangements are invested, that is subject to the Employment Retirement Income
Security Act of 1974, as amended ("ERISA"), or the Code (each, a "Plan"), unless
the prospective transferee of a Class R Certificate provides the Servicer and
the Trustee with a certification of facts and, at its own expense, an Opinion of
Counsel which establish to the satisfaction of the Servicer and the Trustee that
such transfer will not result in a violation of Section 406 of ERISA or Section
4975 of the Code or cause the Servicer or the Trustee to be deemed a fiduciary
of such Plan or result in the imposition of an excise tax under Section 4975 of
the Code.
None of (i) the Trust Fund, (ii) the Servicer, (iii) the Depositor or (iv)
any Subservicer shall be a Class A Certificateholder. Any attempted or purported
transfer in violation of the preceding sentence shall be absolutely null and
void and shall vest no rights in the purported transferee. If any purported
transferee shall become a Holder of a Class A Certificate in violation of such
sentence, then the last preceding Holder shall be restored to all rights as
Holder thereof retroactive to the date of registration of transfer of such
Certificate. The Trustee shall notify the Servicer of any transfer in violation
of this paragraph upon receipt of written notice thereof. The Trustee shall be
under no liability to any Person for any registration of transfer of a Class A
Certificate not permitted by this paragraph or for making any payments due on
such Certificate to the Holder thereof or taking any other action with respect
to such Holder under the provisions of this Agreement so long as the transfer
was registered without such receipt. The Trustee shall be entitled, but not
obligated, to recover from 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
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and dated the date of authentication by the Trustee. The Certificate Registrar
shall notify the Servicer of any such transfer.
At the option of the Certificateholders, Certificates may be exchanged for
other Certificates of Authorized Denominations of a like Class and aggregate
Percentage Interest, upon surrender of the Certificates to be exchanged at such
office. Whenever any Certificates are so surrendered for exchange, the Trustee
shall execute, authenticate and deliver the Certificates which the
Certificateholder making the exchange is entitled to receive. Every Certificate
presented or surrendered for registration of transfer or exchange shall be
accompanied by a written instrument of transfer substantially in the form
attached hereto as Exhibit E, or such other endorsement or written instrument of
transfer as is satisfactory to the Trustee, duly executed by the Holder thereof
or his attorney duly authorized in writing, together with wiring instructions,
if applicable, in the form attached hereto as Exhibit E(1).
No service charge shall be made for any registration of transfer or
exchange of Certificates, but the Certificate Registrar may require payment of a
sum sufficient to cover any tax or governmental charge that may be imposed in
connection with any transfer or exchange of Certificates.
All Certificates surrendered for registration of transfer and exchange
shall be marked "cancelled" by the Trustee.
(d) Except as provided in paragraph (e) below, the Book-Entry Certificates
shall at all times remain registered in the name of the Depository or its
nominee and at all times: (i) registration of the Class A Certificates may not
be transferred by the Trustee except to another Depository; (ii) the Depository
shall maintain book-entry records with respect to the Certificate Owners and
with respect to ownership and transfers of such Class A Certificates; (iii)
ownership and transfers of the Class A Certificates on the books of the
Depository shall be governed by applicable rules established by the Depository;
(iv) the Depository may collect its usual and customary fees, charges and
expenses from its Depository Participants; (v) the Trustee shall deal only with
the Depository for purposes of exercising the rights of Holders of Class A
Certificates under this Agreement.
All transfers by Certificate Owners of Book-Entry Certificates shall be
made in accordance with the procedures established by the Depository Participant
or brokerage firm 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 Group(s) affected by such Event of Default
may advise the Trustee in writing that the continuation of a
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book-entry system through the Depository, to the exclusion of Definitive
Certificates, is no longer in the best interests of the related Certificate
Owners, the Trustee shall notify all of the related Certificate Owners, through
the Depository, of the occurrence of any such event and of the availability of
definitive, fully registered Class 1A or Class 2A Certificates (the "Definitive
Certificates"), as the case may be, to the Certificate Owners requesting the
same. Upon surrender to the Trustee of the related Class A Certificates by the
Depository, accompanied by registration instructions from the Depository for
registration of transfer, the Trustee shall issue the Definitive Certificates.
Neither the Servicer nor the Trustee shall be liable for any delay in delivery
of such instructions and may conclusively rely on, and shall be protected in
relying on, such instructions. Upon the issuance of Definitive Certificates all
references herein to obligations imposed upon or to be performed by the
Depository shall be deemed to be imposed upon and performed by the Trustee to
the extent applicable with respect to such Definitive Certificates and the
Trustee shall recognize the Holders of the Definitive Certificates as
Certificateholders hereunder.
Section 4.03 Mutilated, Destroyed, Lost or Stolen Certificates.
If (i) any mutilated Certificate is surrendered to the Certificate
Registrar, or the Trustee receives evidence to its satisfaction of the
destruction, loss or theft of any Certificate, and (ii) there is delivered to
the Trustee and the Certificate Registrar such security or indemnity as may
reasonably be required by each of them to save each of them harmless, then, in
the absence of notice to the Servicer, the Trustee and the Certificate Registrar
that such Certificate has been acquired by a bona fide purchaser, upon receipt
of written notice from the Servicer that it has received adequate security or
indemnity and no notice that such Certificate has been acquired by a bona fide
purchaser, the Trustee shall execute, deliver and authenticate, in exchange for
or in lieu of any such mutilated, destroyed, lost or stolen Certificate, a new
Certificate of like tenor, Class and Percentage Interest, but bearing a number
not contemporaneously outstanding. Upon the issuance of any new Certificate
under this Section 4.03, the Servicer and the Trustee may require the payment of
a sum sufficient to cover any tax or other governmental charge that may be
imposed in relation thereto and any other expenses connected therewith. Any
duplicate Certificate issued pursuant to this Section 4.03 shall constitute
complete and indefeasible evidence of ownership in the Trust Fund, as if
originally issued, whether or not the mutilated, destroyed, lost or stolen
Certificate shall be found at any time.
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
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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 Group 1, and for first mortgage loans with
respect to Group 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 December 1, 1997, Series 1997-4" 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 December 1, 1997, Series 1997-4"
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
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consent of the Certificate Insurer, the Servicer shall continue, and is hereby
authorized and empowered to execute and deliver on behalf of the Trustee and
each Certificateholder, all instruments of satisfaction or cancellation, or of
partial or full release, discharge and all other comparable instruments, with
respect to the Mortgage Loans and with respect to the Mortgaged Properties. If
reasonably required by the Servicer, the Trustee shall furnish the Servicer with
any powers of attorney and other documents necessary or appropriate to enable
the Servicer to carry out its servicing and administrative duties under this
Agreement.
Notwithstanding anything to the contrary contained herein, the Servicer, in
servicing and administering the Mortgage Loans, shall employ or cause to be
employed procedures (including collection, foreclosure, REO Property management
procedures and the making of Servicing Advances) and exercise the same care that
it customarily employs and exercises in servicing and administering mortgage
loans for its own account, in accordance with accepted first and second mortgage
servicing practices of prudent lending institutions with respect to Group 1, and
in accordance with accepted first mortgage servicing practices of prudent
lending institutions with respect to Group 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 Group, 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 Group, 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 Group 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
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with the same degree of care and skill in its exercise or use as it would
exercise or use under the circumstances in the conduct of its own affairs. Any
amounts advanced in connection with such foreclosure or other action shall
constitute Servicing Advances.
After a Mortgage Loan has become a Liquidated Mortgage Loan, the Servicer
shall promptly prepare and forward to the Trustee and the Certificate Insurer
and, upon request, any Certificateholder, a Liquidation Report certified by a
Responsible Officer, in the form attached hereto as Exhibit M, detailing the
Liquidation Proceeds received from the Liquidated Mortgage Loan, expenses
incurred with respect thereto, and any loss incurred in connection therewith.
Section 5.03 Establishment of Principal and Interest Accounts; Deposits in
Principal and Interest Accounts.
With respect to each Sub-Pool, the Servicer shall cause to be established
and initially maintained with the Trustee one or more Principal and Interest
Accounts, which shall be Eligible Accounts, titled, with respect to Sub-Pool I,
"Sub-Pool I Principal and Interest Account, Superior Bank FSB, in trust for the
registered holders of AFC Mortgage Loan Asset Backed Certificates, Series
1997-4", with respect to Sub-Pool II, "Sub-Pool II Principal and Interest
Account, Superior Bank FSB, in trust for the registered holders of AFC Mortgage
Loan Asset Backed Certificates, Series 1997-4" with respect to Sub-Pool III,
ASub-Pool III Principal and Interest Account, Superior Bank FSB, in trust for
the registered holders of AFC Mortgage Loan Asset Backed Certificates, Series
1997-4" and with respect to Sub-Pool IV, ASub-Pool IV Principal and Interest
Account, Superior Bank FSB, in trust for the registered holders of AFC Mortgage
Loan Asset Backed Certificates, Series 1997-4.@ 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;
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(iv) all Insurance Proceeds;
(v) all Released Mortgaged Property Proceeds;
(vi) any amounts payable in connection with the repurchase of any
Mortgage Loan and the amount of any Substitution Adjustment pursuant to
Sections 2.05 and 3.03 above; and
(vii) any amount required to be deposited in the related Principal and
Interest Account pursuant to Section 5.04 or 11.01.
The foregoing requirements for deposit in the related Principal and
Interest Account shall be exclusive; it being understood and agreed that,
without limiting the generality of the foregoing, the Depositor's Yield, the
Servicing Fee with respect to each Mortgage Loan, late payment charges and
assumption fees, to the extent permitted by Sections 7.01 and 7.03, and Excess
Proceeds need not be deposited by the Servicer in the related Principal and
Interest Account. Any interest earnings on funds held in the related Principal
and Interest Account shall be for the account of the Servicer and may only be
withdrawn from the related Principal and Interest Account by the Servicer
immediately following its monthly remittance of the Available Remittance Amount
to the Trustee. Any reference herein to amounts on deposit in the related
Principal and Interest Account shall refer to amounts net of such investment
earnings.
Section 5.04 Permitted Withdrawals From the Principal and Interest Account.
With respect to each Sub-Pool, the Servicer shall withdraw or cause to be
withdrawn funds from the related Principal and Interest Account for the
following purposes:
(i) to effect the remittance to the Trustee on the Determination Date
of the Excess Spread and the 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
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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 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, nonappealable order of a court having competent jurisdiction;
(iv) (a) to make investments in Permitted Instruments and (b) to pay
to itself interest earned in respect of Permitted Instruments or on funds
deposited in the related Principal and Interest Account;
(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.
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So long as no Event of Default shall have occurred and be continuing, and
consistent with any requirements of the Code, the funds held in the related
Principal and Interest Account may be invested by the Servicer (to the extent
practicable) in Permitted Instruments, as directed in writing to the Trustee by
the Servicer. In either case, funds in the related Principal and Interest
Account must be available for withdrawal without penalty, and any Permitted
Instruments must mature not later than the Business Day immediately preceding
the Determination Date next following the date of such investment (except that
if such Permitted Instrument is an obligation of the institution that maintains
the related Principal and Interest Account, then such Permitted Instrument shall
mature not later than such Determination Date) and shall not be sold or disposed
of prior to its maturity. All Permitted Instruments in which funds in the
related Principal and Interest Account are invested must be held by or
registered in the name of "Superior Bank FSB, in trust for the registered
holders of AFC Mortgage Loan Asset Backed Certificates, Series 1997-4." 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
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each of the Accounts or any of them may, upon written notice to the Trustee and
the Certificate Insurer, be transferred to a different depository institution so
long as such transfer is to an Eligible Account. The Certificate Insurer shall
be provided with a monthly statement of activity in the Principal and Interest
Accounts and the Accounts from each party holding such accounts.
Section 5.07 Maintenance of Hazard Insurance.
The Servicer shall cause to be maintained, subject to the provisions of
Section 5.08, fire and hazard insurance with extended coverage customary in the
area where the Mortgaged Property is located, in an amount which is at least
equal to the least of (a) the outstanding principal balance owing on the
Mortgage Loan, and the First Lien, with respect to Group 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 Group 1, and in accordance with
accepted first mortgage servicing practices of prudent lending institutions with
respect to Group 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 Group 1, and with customary first
mortgage servicing procedures with respect to Group 2) shall be deposited in the
Principal and Interest Account with respect to the related Group, 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.
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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 Group, then, to the extent such policy
names the Servicer as loss payee and provides coverage in an amount equal to the
aggregate unpaid principal balance on the related Mortgage Loans without
co-insurance, and otherwise complies with the requirements of Section 5.07
above, the Servicer shall be deemed conclusively to have satisfied its
obligations with respect to fire and hazard insurance coverage under Section
5.07 above, it being understood and agreed that such blanket policy may contain
a deductible clause, in which case the Servicer shall, in the event that there
shall not have been maintained on the related Mortgaged Property a policy
complying with Section 5.07 above, and there shall have been a loss which would
have been covered by such policy, deposit in the related Principal and Interest
Account the difference, if any, between the amount that would have been payable
under a policy complying with Section 5.07 above and the amount paid under such
blanket policy. On the Closing Date, such blanket policy is maintained with St.
Paul Insurance Company.
Section 5.09 Fidelity Bond.
The Servicer shall maintain with a responsible company, and at its own
expense, a blanket fidelity bond and an errors and omissions insurance policy,
in a minimum amount acceptable to FNMA or FHLMC or otherwise as is commercially
available at a cost that is not 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
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the same (and may temporarily rent the same) on such terms and conditions as the
Servicer deems to be in the best interest of the Certificate Insurer and the
Certificateholders. Any out-of-pocket expenses incurred by the Servicer pursuant
to this Section 5.10 shall be Servicing Advances.
The Servicer shall cause to be deposited, no later than five Business Days
after the receipt thereof, in the related Principal and Interest Account, all
revenues received with respect to the conservation and disposition of the
related REO Property and shall retain, or withdraw from such amounts, funds
necessary for the proper operation, management and maintenance of the related
REO Property and the fees of any managing agent acting on behalf of the
Servicer.
The disposition of REO Property shall be carried out by the Servicer at
such price, and upon such terms and conditions, as the Servicer deems to be in
the best interest of the Certificateholders and, as soon as practicable
thereafter, the expenses of such sale shall be paid. The proceeds of sale of the
REO Property shall be promptly deposited in the related Principal and Interest
Account, net of Excess Proceeds, any related unreimbursed Servicing Advances,
accrued and unpaid Servicing Fees and unreimbursed Monthly Advances payable to
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
(which report the Trustee shall supply to the Certificate Insurer upon request)
as to the progress being made in selling such REO Property.
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With respect to each Multifamily Loan, Mixed Use Loan and Commercial Loan:
(i) Prior to the acquisition of title to such property, the Servicer
shall review the operation of such property and determine the nature of the
income that would be derived from such property if it were acquired by the
Trust Fund. If the Servicer determines from such review that:
(A) None of the income from Directly Operating such property
would be subject to tax as "net income from foreclosure property"
within the meaning of the REMIC Provisions or would be subject to the
tax imposed on "prohibited transactions" under Section 860F of the
Code (either such tax referred to herein as an "REO Tax"), such
property may be Directly Operated by the Servicer as REO Property;
(B) Directly Operating such property as an REO Property could
result in income from such property that would be subject to an REO
Tax, but that a lease of such 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
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extent commercially feasible) the net after-tax REO Proceeds received
by the Trust Fund with respect to such property and, to the extent
consistent with the foregoing, in the same manner as would prudent
mortgage loan servicers and asset managers operating acquired
mortgaged property comparable to the respective property. The
Servicer, the Trustee and the Certificate Insurer may consult with
counsel in connection with determinations required under this Section
5.10(i)(C). The cost of such consultation by the Servicer shall
constitute a Servicing Advance. Neither the Servicer nor the Trustee
shall be liable to the Certificateholders, the Trust Fund, the
Trustee, the Servicer or each other for errors in judgment made in
good faith in the exercise of their discretion while performing their
respective responsibilities under this Section 5.10(i)(C). Nothing in
this Section 5.10(i)(C) is intended to prevent the sale of a Defaulted
Mortgage Loan pursuant to the terms and subject to the conditions of
Section 5.11.
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
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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.
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 Group 1 Mortgage Loan, the Depositor or the Servicer
shall file (or cause to be filed) of record a request for notice of any action
by a superior lienholder under a First Lien for the protection of the Trustee's
interest, where permitted by local law and whenever applicable state law does
not require that a junior lienholder be named as a party defendant in
foreclosure proceedings in order to foreclose such junior lienholder's equity of
redemption. The Servicer must also notify any superior lienholder in writing of
the existence of the Mortgage Loan and request notification of any action (as
described below) to be taken against the Mortgagor or the Mortgaged Property by
the superior lienholder.
With respect to any Group 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 Group 1.
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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 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 Group, 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 Group 1,
"Group 1 Certificate Account, LaSalle National Bank, as trustee for the
registered holders of AFC Mortgage Loan Asset Backed Certificates, Series
1997-4" and with respect to Group 2, "Group 2 Certificate Account, LaSalle
National Bank, as trustee for the registered holders of AFC Mortgage Loan Asset
Backed Certificates, Series 1997-4." With respect to each Group, 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 and the related Compensating Interest
remitted to the Trustee by the Servicer;
(iii) the Excess Spread with respect to the related Group remitted to
the Trustee by the Servicer pursuant to Section 5.04(i) above and Insured
Payments with respect to the related Group 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 Group, 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;
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(ii) to effect the distributions described in Section 6.06(c),
exclusive of the distributions described in the last paragraph of Section
6.06(c);
(iii) except as to the final Remittance Date hereunder, to make
deposits in the related Trustee Expense Account pursuant to Section
6.03(a)(i);
and also, in no particular order of priority:
(iv) to invest amounts on deposit in the related Certificate Account
in Permitted Instruments pursuant to Section 6.05;
(v) to pay on a monthly basis to the Servicer interest paid and
earnings realized on Permitted Instruments in the related Certificate
Account;
(vi) to withdraw any amount not required to be deposited in the
related Certificate Account or deposited therein in error; and
(vii) to clear and terminate the related Certificate Account upon the
termination of this Agreement in accordance with Article XI of this
Agreement.
Section 6.03 Establishment of Trustee Expense Account; Deposits in Trustee
Expense Account; Permitted Withdrawals from Trustee
Expense Account.
(a) With respect to each Group 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
Group 1, "Group 1 Trustee Expense Account, LaSalle National Bank, as trustee for
the registered holders of AFC Mortgage Loan Asset Backed Certificates, Series
1997-4", and with respect to Group 2, "Group 2 Trustee Expense Account, LaSalle
National Bank, as trustee for the registered holders of AFC Mortgage Loan Asset
Backed Certificates, Series 1997-4." With respect to each Group, 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 Group, the Trustee shall
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make demand on the related Servicer to advance the amount of such insufficiency,
and the Servicer shall promptly advance such amount. If the related Servicer
fails to make such advance, the Depositor shall do so upon demand of the
Trustee. Thereafter, the Servicer and the Depositor shall be entitled to
reimbursement solely from the related Trustee Expense Account pursuant to
subclause (c)(ii) below for the amount of any such advance from any excess
available after payment of Trust Fund expenses.
(b) The Trustee may withdraw amounts on deposit in the Trustee Expense
Account with respect to each Group 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 Group;
(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.
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Section 6.04 Payment of Monthly Premium to Certificate Insurer
With respect to each Group and on each Remittance Date commencing on
January 26, 1998 (other than the final Remittance Date hereunder), from the
amounts on deposit in the Certificate Account with respect to the related Group,
prior to making the remittances required pursuant to Section 6.06(c), the
Trustee shall pay the Certificate Insurer the Monthly Premium with respect to
such Group.
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
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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.
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, 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
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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 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 Group 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
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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 Amount with respect to the related Group 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 Group 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 and 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 Amount Available with respect to Group 1; and
(B) the related Class 1A Interest Remittance Amount with respect
to the Class 1A-1 Certificates and the Class 1A-2 Certificates;
(ii) to the Class 1A-1 Certificateholders and the Class 1A-2
Certificateholders (including for purposes of this Section 6.06(c), the
Certificate Insurer as the subrogee
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thereof), to be applied to reduce the Class 1A-1 Principal Balance and the
Class 1A-2 Principal Balance, respectively, to the extent described below,
until the Class 1A-1 Principal Balance and the Class 1A-2 Principal Balance
have 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 Group 1
after payments described in clause (X)(i) above, pro rata based on the
related Class Percentage; and
(B) the related Class A Principal Remittance Amount with respect
to the Class 1A-1 and Class 1A-2 Certificates;
(iii) to the Group 1 Trustee Expense Account, an amount equal to the
lesser of the balance of the Amount Available with respect to Group 1 after
payments described in clauses (X)(i) and (ii) above and any accrued and
unpaid Annual Trustee Expense Amount with respect to Group 1;
(iv) to the Class 1A-1 Certificateholders and Class 1A-2
Certificateholders to be applied to reduce the Class 1A-1 Principal Balance
and the Class 1A-2 Principal Balance, respectively, until the Class 1A-1
Principal Balance and the Class 1A-2 Principal Balance have been reduced to
zero, an amount equal to the lesser of:
(A) the balance of the Amount Available with respect to Group 1
after payments described in clauses (X)(i) through (iii) above, pro
rata based on the related Class Percentage; and
(B) the related Additional Principal with respect to the Class
1A-1 and Class 1A-2 Certificates;
(v) to the Servicer and/or the Depositor, an amount equal to the
lesser of the balance of the Amount Available with respect to Group 1 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 Group 1 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
Group 1 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 Group 1, if any, after payments
described in clauses (X)(i) through (vi) 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 and 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 Amount Available with respect to Group 1; and
(B) the related Class 1A Interest Remittance Amount with respect
to the Class 1A-1 Certificates and the Class 1A-2 Certificates;
(ii) to the Class 1A-1 Certificateholders and 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-1 Principal Balance and the Class 1A-2 Principal Balance,
respectively, until the Class 1A-1 Principal Balance and the Class 1A-2
Principal Balance have 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 Group 1 after payments described in clause (Y)(i) above, pro rata
based on the related Class Percentage; and
(B) the related Class A Principal Remittance Amount with respect
to the Class 1A-1 Certificates and Class 1A-2 Certificates;
(iii) to the Group 1 Trustee Expense Account, an amount equal to the
lesser of the balance of the Amount Available with respect to Group 1 after
payments described in clauses (Y)(i) and (ii) above and any accrued and
unpaid Annual Trustee Expense Amount with respect to Group 1;
(iv) to the Servicer and/or the Depositor, an amount equal to the
lesser of the balance of the Amount Available with respect to Group 1 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 Group 1 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
Group 1 previously made by the Servicer and not previously reimbursed; and
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(vi) to the Class R Certificateholders, the balance of the Amount
Available with respect to Group 1, if any, after payments described in
clauses (Y)(i) through (v) above.
(B) With respect to the Class 2A Certificates and Group 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-1 Certificateholders and Class 2A-2
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 Group 2; and
(B) the related Class 2A Interest Remittance Amount with respect
to the Class 2A-1 and Class 2A-2 Certificates;
(ii) to the Class 2A-1 Certificateholders and Class 2A-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 2A-1 Principal Balance and the Class 2A-2 Principal Balance,
respectively, to the extent described below, until the Class 2A-1 Principal
Balance and the Class 2A-2 Principal Balance have 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 Group 2
after payments described in clause (X)(i) above, pro rata based on the
related Class Percentage; and
(B) the related Class A Principal Remittance Amount with respect
to the Class 2A-1 and Class 2A-2 Certificates;
(iii) to the Group 2 Trustee Expense Account, an amount equal to the
lesser of the balance of the Amount Available with respect to Group 2 after
payments described in clauses (X)(i) and (ii) above and any accrued and
unpaid Annual Trustee Expense Amount with respect to Group 2;
(iv) to the Class 2A-1 Certificateholders and Class 2A-2
Certificateholders to be applied to reduce the Class 2A-1 Principal Balance
and the Class 2A-2 Principal Balance until the Class 2A-1 Principal Balance
and the Class 2A-2 Principal Balance have 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 Group 2
after payments described in clauses (X)(i) through (iii) above, pro
rata based on the related Class Percentage; and
(B) the related Additional Principal with respect to the Class
2A-1 and Class 2A-2 Certificates;
(v) to the Servicer and/or the Depositor, an amount equal to the
lesser of the balance of the Amount Available with respect to Group 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 Group 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
Group 2 previously made by the Servicer and not previously reimbursed;
(vii) to the Class 2A-1 Certificateholders and Class 2A-2
Certificateholders until the Class 2A-1 Principal Balance and Class 2A-2
Principal Balance have been reduced to zero, an amount equal to the lesser
of:
(A) the balance of the Remaining Net Excess Spread with respect
to Group 2, if any, after payments described in clauses (X)(i) through
(vi) and payments of Additional Principal, if any, to the Class 1A
Certificateholders (in proportion to the amount of Available Funds Cap
Carryforward Amount that would have been distributed to such Class 2A
Certificateholder on such Remittance Date); and
(B) the related Available Funds Cap Carry Forward Amount with
respect to the Class 2A-1 and Class 2A-2 Certificates, if any; and
(viii) to the Class R Certificateholders, the balance of the Amount
Available with respect to Group 2, if any, after payments described in
clauses (X)(i) through (vii) 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-1 Certificateholders and Class 2A-2
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 Group 2; and
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(B) the related Class 2A Interest Remittance Amount with respect
to the Class 2A-1 and Class 2A-2 Certificates;
(ii) to the Class 2A-1 Certificateholders and the Class 2A-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 2A-1 Principal Balance and the Class 2A-2 Principal Balance,
respectively, until the Class 2A-1 Principal Balance and the Class 2A-2
Principal Balance have been reduced to zero and to make payments in respect
of the amounts described in clauses (c)(v) (to the extent the amounts
described in clause (c)(v) represent prior Insured Payments by the
Certificate Insurer or interest accrued thereon pursuant to the definition
of Class A Carry-Forward Amount) and (c)(vii) of the definition of Class A
Principal Remittance Amount below, the lesser of:
(A) the balance of the Net Excess Amount Available with respect
to Group 2 after payments described in clause (Y)(i) above, pro rata
based on the related Class Percentage; and
(B) the Class A Principal Remittance Amount with respect to the
Class 2A-1 and Class 2A-2 Certificates;
(iii) to the Group 2 Trustee Expense Account, an amount equal to the
lesser of the balance of the Amount Available with respect to Group 2 after
payments described in clauses (Y)(i) and (ii) above and any accrued and
unpaid Annual Trustee Expense Amount with respect to Group 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 Group 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 Group 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
Group 2 previously made by the Servicer and not previously reimbursed; and
(vi) to the Class 2A-1 Certificateholders and Class 2A-2
Certificateholders until the Class 2A-1 Principal Balance and the Class
2A-2 Principal Balance have been reduced to zero, an amount equal to the
lesser of:
(A) the balance of the Remaining Net Excess Spread with respect
to Group 2 after payments described in clauses (Y)(i) through (v)
above and payments of Additional Principal, if any, to the Class 1A
Certificateholders (in proportion to the amount of Available Funds
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Cap Carryforward Amount that would have been distributed to such Class
2A Certificateholder on such Remittance Date); and
(B) the related Available Funds Cap Carry Forward Amount with
respect to the Class 2A-1 and Class 2A-2 Certificates, if any; and
(vii) to the Class R Certificateholders, the balance of the Amount
Available with respect to Group 2, if any, after payments described in
clauses (Y)(i) through (vi) 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) and
(ii) and 6.06(c)(A)(Y)(i) and (ii) with respect to Group 1, and Sections
6.06(c)(B)(X)(i) and (ii) and 6.06(c)(B)(Y)(i) and (ii) with respect to Group 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 February 25, 1998 Remittance Date and
(ii) the termination of this Agreement, the Trustee shall distribute any amount
remaining in the related Pre-Funding Account to the related Class 1A or Class 2A
Certificateholders, in proportion to the related Class 1A Principal Balance and
the Class 2A Principal Balance, respectively, to reduce the related Class 1A
Principal Balance and the Class 2A Principal Balance until the related Class 1A
Principal Balance and the Class 2A Principal Balance are zero.
(d) Except as otherwise provided in the next succeeding sentence and
Sections 6.06(e) and 6.07, all distributions made to the Class 1A
Certificateholders, Class 2A Certificateholders or Class R Certificateholders as
a Class on each Remittance Date will be made on a pro rata basis among the
Certificateholders of record of the respective Class on the immediately
preceding Record Date, except that the initial distribution on all Classes of
Certificates other than the Class 1A-1 Certificates and the Class 2A
Certificates will be made to Certificateholders of record as of the Closing
Date, based on the Percentage Interest represented by their respective
Certificates, and shall be made by wire transfer of immediately available funds
to the account of such Certificateholder at a bank or other entity having
appropriate facilities therefor, if such Certificateholder shall own of record
(i) any Class R Certificate, or (ii) any Class A Certificate with an initial
related Class A Principal Balance in excess of $5,000,000 appearing in the
Certificate Register and shall have provided timely and complete wiring
instructions, and otherwise by check mailed to the address of such
Certificateholder appearing in the Certificate Register. The final distribution
on each Certificate will be made in the manner, but only upon presentment and
surrender of such Certificate at the location specified in the notice to
Certificateholders of such final distribution.
(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
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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 Section 6.06(c)(A)(Y)(i)
with respect to Group 1 and Section 6.06(c)(B)(Y)(i) with respect to Group 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 Group available
to pay the related Class A Interest Remittance Amount with respect to the
related Class of Class A Certificates pursuant to Section 6.06(c)(A)(Y)(i) with
respect to Group 1, and Section 6.06(c)(B)(Y)(i) with respect to Group 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 Group: 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 Group 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 Group or
interest accrued in respect of such Insured Payments with respect to the related
Group, 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
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legibility of which shall be confirmed telephonically, with hard copy thereof
(and in the case of the remittance report referenced below, such report to the
Trustee 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
Group:
(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 Group and the Net Excess Amount Available
with respect to each Group;
(ii) The Class 1A Principal Balance with respect to each Class of
Class 1A Certificates, the Class 2A Principal Balance with respect to each
Class of Class 2A Certificates and the related Sub-Pool Principal Balance
as reported in the prior Servicer's Certificate pursuant to subclause (xii)
below, or, in the case of the first Determination Date, the Original Class
1A Principal Balance and the Original Class 2A Principal Balance;
(iii) The number and Principal Balances of all Mortgage Loans which
were the subject of Principal Prepayments during the related Due Period;
(iv) The amount of all Curtailments which were received during the Due
Period;
(v) The combined aggregate amount of (i) all Excess Payments and (ii)
the principal portion of all Monthly Payments received during the related
Due Period;
(vi) The amount of interest received on the Mortgage Loans;
(vii) The amount of the Monthly Advances to be made on the
Determination Date, the Compensating Interest payment to be made on the
Determination Date and 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
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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, (b) the amount, if any, of previously unreimbursed Insured
Payments, 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 Balances after giving effect to the distribution to be
made on the related Remittance Date;
(xiii) With respect to each Group, the weighted average maturity and
the weighted average Mortgage Rate;
(xiv) The Servicing Fees and the amounts to be paid to the Certificate
Insurer as the Monthly Premium pursuant to Section 6.02(i) above and to the
related Trustee Expense Account pursuant to Section 6.03;
(xv) The amount of all payments or reimbursements to the Servicer
pursuant to Section 5.04 (ii), (iv), (vi) and (ix) above and the amounts,
if any, withdrawn pursuant to 5.04 (v) and (vii) above;
(xvi) The related Sub-Pool Factor determined using the related
Sub-Pool Principal Balance in subclause (xii) above, computed to seven (7)
decimal places;
(xvii) With respect to each Group, the Excess Spread to be deposited
in the related Certificate Account pursuant to Section 6.01(iii) above;
(xviii) With respect to each Group, (a) 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 and (b) the Available Funds Cap Carry Forward
Amount for the immediately preceding Remittance Date;
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(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 Group, 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 Group pursuant to Section 11.01, the
Termination Price;
(xxiii) With respect to each Sub-Pool, for the February 25, 1998
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 Accounts for such
Remittance Date and the amount, if any, to be released to the Class R
Certificateholders from the Reserve Accounts 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
(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.
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To the extent that there are inconsistencies between the telecopy of the
Servicer's Certificate and the hard copy thereof, the Trustee shall be entitled
to rely upon the telecopy.
In the case of information furnished pursuant to subclauses (ii), (iii),
(iv), (v), (ix), (x) and (xii) above, the amounts shall be expressed in a
separate section of the report as a dollar amount for each Class per $1,000
original dollar amount as of the Cut-off Date, in the case of such information
relevant to Class A Certificateholders.
(a) Within a reasonable period of time after the end of each calendar year,
the Servicer shall furnish to the Trustee for distribution to each Person who at
any time during the calendar year was a Class A Certificateholder, if requested
in writing by such Person, such information as is reasonably necessary to
provide to such Person a statement containing the information set forth in
subclauses (vi), (ix) and (xiv) above, aggregated for such calendar year or
applicable portion thereof during which such Person was a Certificateholder.
Such obligation of the Servicer shall be deemed to have been satisfied to the
extent that substantially comparable information shall be provided by the
Servicer to the Trustee or the Certificateholders pursuant to any requirements
of the Code as from time to time are in force.
(b) On each Remittance Date, the Trustee shall forward to the Class R
Certificateholders a copy of the reports forwarded to the Class A
Certificateholders in respect of such Remittance Date and a statement setting
forth the amounts actually distributed to the Class R Certificateholders on such
Remittance Date together with such other information as the Servicer deems
necessary or appropriate.
(c) Within a reasonable period of time after the end of each calendar year,
the Servicer shall furnish to the Trustee for distribution to each Person who at
any time during the calendar year was a Class R Certificateholder, if requested
in writing by such Person, such information as is reasonably necessary to
provide to such Person a statement containing the information provided pursuant
to the previous paragraph aggregated for such calendar year or applicable
portion thereof during which such Person was a Class R Certificateholder. Such
obligation of the Servicer shall be deemed to have been satisfied to the extent
that substantially comparable information shall be provided by the Servicer to
the Trustee or the Certificateholders pursuant to any requirements of the Code
as from time to time in force.
(d) Upon reasonable advance notice in writing, the Servicer will provide to
each Class A Certificateholder which is a savings and loan association, bank or
insurance company access to information and documentation regarding the Mortgage
Loans sufficient to permit such Class A Certificateholders to comply with
applicable regulations of the FDIC or other regulatory authorities with respect
to investment in the Class A Certificates.
(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
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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.
(g) Within a reasonable period of time after the Closing Date, the Servicer
will provide to the Certificate Insurer, or its designee, a computer tape or
electronic transmission (a "Data Tape"), in a format and containing such of the
servicing data maintained by the Servicer with respect to the Mortgage Loans as
of the Cut-off Date as shall be mutually agreed to by the Servicer and the
Certificate Insurer (but in any event the Data Tape shall contain the Servicer=s
Monthly Remittance Report and such other information as the Certificate Insurer
may reasonably request), together with a written explanation (the "Data
Dictionary") of each of the data fields included in such Data Tape. Thereafter,
on a monthly basis, the Servicer will provide to the Certificate Insurer, or its
designee, a Data Tape as of the end of the preceding Due Period, together with a
written explanation of any revisions made to the Data Dictionary during the
preceding Due Period. The Certificate Insurer shall have no duty or obligation
with respect to the accuracy of the information contained in any Data Tape or in
the Data Dictionary.
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 Group) 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
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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 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.
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 Group, 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
Group.
Section 6.11 [Reserved]
Section 6.12 Pre-Funding Account.
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(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 I, "Sub-Pool I Pre-Funding Account, LaSalle National Bank, as trustee
for the registered holders of AFC Mortgage Loan Asset Backed Certificates,
Series 1997-4", with respect to Sub-Pool II, "Sub-Pool II Pre-Funding Account,
LaSalle National Bank, as trustee for the registered holders of AFC Mortgage
Loan Asset Backed Certificates, Series 1997-4", with respect to Sub-Pool III,
"Sub-Pool III Pre-Funding Account, LaSalle National Bank, as trustee for the
registered holders of AFC Mortgage Loan Asset Backed Certificates, Series
1997-4" and with respect to Sub-Pool IV, "Sub-Pool IV Pre-Funding Account,
LaSalle National Bank, as trustee for the registered holders of AFC Mortgage
Loan Asset Backed Certificates, Series 1997-4". 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 February 25, 1998 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 Group 1 Subsequent Mortgage Loans and
Section 2.10(d) with respect to Group 2 Subsequent Mortgage Loans;
(ii) If the related Pre-Funded Amount has not been reduced to zero
during the Funding Period, on the February 25, 1998 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 February 25, 1998 Remittance Date, (B) the
termination of this Agreement and (C) the termination of the related Group,
with any amounts remaining on deposit therein being paid to the Class R
Certificateholders.
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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 I,
"Sub-Pool I Interest Coverage Account, LaSalle National Bank, as trustee for the
registered holders of AFC Mortgage Loan Asset Backed Certificates, Series
1997-4", with respect to Sub-Pool II, "Sub-Pool II Interest Coverage Account,
LaSalle National Bank, as trustee for the registered holders of AFC Mortgage
Loan Asset Backed Certificates, Series 1997-4", with respect to Sub-Pool III,
"Sub-Pool III Interest Coverage Account, LaSalle National Bank, as trustee for
the registered holders of AFC Mortgage Loan Asset Backed Certificates, Series
1997-4", with respect to Sub-Pool IV, "Sub-Pool IV Interest Coverage Account,
LaSalle National Bank, as trustee for the registered holders of AFC Mortgage
Loan Asset Backed Certificates, Series 1997-4." The Trustee shall, promptly upon
receipt, deposit in the related Interest Coverage Account and retain therein the
related Interest Coverage Amount remitted on the Closing Date to the Trustee by
the Depositor. Funds deposited in the related Interest Coverage Account shall be
held in trust by the Trustee for the Certificateholders for the uses and
purposes set forth herein. For federal income tax purposes, 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 January 26, 1998 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 11.233%
with respect to Sub-Pool I, 11.466% with respect to Sub-Pool II, 10.249% with
respect to Sub-Pool III and 10.148% with respect to Sub-Pool IV 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 February 25, 1998 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
January 1, 1998 at an annual rate equal to 11.233% with respect to Sub-Pool I,
11.466% with respect to Sub-Pool II, 10.249% with respect to Sub-Pool III and
10.148% with respect to Sub-Pool IV minus (ii) the sum of (1) interest payments
received on Subsequent Mortgage Loans
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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) 11.233% with respect to
Sub-Pool I, 11.466% with respect to Sub-Pool II, 10.249% with respect to
Sub-Pool III and 10.148% with respect to Sub-Pool IV and (iii) a fraction, the
numerator of which is the number of days from the Subsequent Transfer Date to
February 25, 1998 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 February
25, 1998 Remittance Date, (ii) the reduction of the related Class 1A Principal
Balance or the Class 2A Principal Balance to zero, (iii) the termination of this
Agreement in accordance with Section 11.01, (iv) the date of the conveyance of
the last Subsequent Mortgage Loan to the Trustee, as set forth in a written
letter of instruction by the Servicer to the Trustee, or (v) termination of 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.
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Section 6.14 Reserve Account.
(a) If required by the Certificate Insurer for credit enhancement, with
respect to each Group 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 Group 1, "Group 1 Reserve
Account, LaSalle National Bank, as trustee for the registered holders of AFC
Mortgage Loan Asset Backed Certificates, Series 1997-4" and with respect to
Group 2, "Group 2 Reserve Account, LaSalle National Bank, as trustee for the
registered holders of AFC Mortgage Loan Asset Backed Certificates, Series
1997-4." 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 February 25, 1998
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 February 25, 1998 Remittance Date. If the
Certificate Insurer does not so direct the Trustee on or before the February 25,
1998 Remittance Date, then the balance of each Reserve Account shall be
distributed by the Trustee to the Class R Certificateholders on the March 25,
1998 Remittance Date.
(c) With respect to each Group and on and after the February 25, 1998
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 Group 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 Group 1 for such
Remittance Date after any applications of Excess Spread and (B) to deposit
in the Group 2 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 2A Certificates for such Remittance Date over the Available
Remittance Amount with respect to Group 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 related Reserve 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:
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(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 Group 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 [Reserved]
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.
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Upon the payment in full of any Mortgage Loan, or the receipt by the
Servicer of a notification that payment in full will be escrowed in a manner
customary for such purposes, the Servicer will immediately notify the Trustee
(if it holds the related Trustee's Mortgage File) or the Custodian, as the case
may be, by an Officers' Certificate in the form of Exhibit I attached hereto
(which certification shall include a statement to the effect that all amounts
received or to be received in connection with such payment which are required to
be deposited in the Principal and Interest Account pursuant to Section 5.03
above have been or will be so deposited) of a Servicing Officer and shall
request delivery to it of the Trustee's Mortgage File. Upon receipt of such
certification and request, the Trustee or such Custodian, as the case may be,
shall promptly release the related Trustee's Mortgage File to the Servicer.
Expenses incurred in connection with any instrument of satisfaction or deed of
reconveyance shall be payable only from and to the extent of Servicing
Compensation with respect to the related Group 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 December 1, 1997,
Series 1997-4" 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
December 1, 1997, Series 1997-4" 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.
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The Trustee shall execute and deliver to the Servicer any court pleadings,
requests for trustee's sale in respect of a Mortgaged Property or to any legal
action brought to obtain judgment against any Mortgagor on the Mortgage Note or
Mortgage or to obtain a deficiency judgment, or to enforce any other remedies or
rights provided by the Mortgage Note or Mortgage or otherwise available at law
or in equity. Together with such documents or pleadings, the Servicer shall
deliver to the Trustee a certificate of a Servicing Officer requesting that such
pleadings or documents be executed by the Trustee and certifying as to the
reason such documents or pleadings are required and that the execution and
delivery thereof by the Trustee will not invalidate or otherwise affect the lien
of the Mortgage, except for the termination of such a lien upon completion of
the foreclosure or trustee's sale. The Trustee shall, upon receipt of a written
request from a Servicing Officer, execute any document provided to the Trustee
by the Servicer or take any other action requested in such request that is, in
the opinion of the Servicer as evidenced by such request, required by any state
or other jurisdiction to discharge the lien of a Mortgage upon the satisfaction
thereof and the Trustee will sign and post, but will not guarantee receipt of,
any such documents to the Servicer, or such other party as the Servicer may
direct, within five Business Days, or more promptly if needed, of the Trustee's
receipt of such certificate or documents. Such certificate or documents shall
establish to the Trustee's satisfaction that the related Mortgage Loan has been
paid in full by or on behalf of the Mortgagor and that such payment has been
deposited in the Principal and Interest Account.
Section 7.03 Servicing Compensation.
As compensation for its services under this Agreement, subject to Section
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,
1998, 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
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such officer's supervision, and (iii) to the best of such officers' knowledge,
based on such review, the Servicer has fulfilled all its obligations under this
Agreement throughout such year, or, if there has been a default in the
fulfillment of any such obligation, specifying each such default known to such
officers and the nature and status thereof and the action being taken by the
Servicer to cure such default.
Section 7.05 Annual Independent Public Accountants' Servicing Report and
Comfort Letter.
Not later than the last day of the fourth month following the end of the
Servicer's fiscal year, beginning for the fiscal year ending June 30, 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.
(a) 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.
(b) More specifically (but without derogation of the more general right of
inspection referred to in subsection (a) above), the Certificate Insurer or its
agents or representatives also shall have the right, upon reasonable notice and
during normal business hours on the Servicer's or any Subservicer's premises, as
the case may be, to examine, review and audit the books, records and files of
the Servicer or any Subservicer relating to the Mortgage Loans (including,
without limitation, any servicing and origination files) and the servicing
thereof and to receive such other information as the Certificate Insurer may
reasonably request, and to make such copies or take excerpts from such books,
records and files as any such agent or representative deems necessary or
advisable. During any such examination or review, the Servicer or Subservicer,
as the case may be, shall make its employees, auditors, representatives or
agents knowledgeable about the books, records and/or files being examined or
reviewed available to the Certificate Insurer, its agents or representatives. In
addition, the Servicer, upon request of the
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Certificate Insurer, will permit the Certificate Insurer or its authorized
agents to discuss the affairs, finances and accounts of the Servicer with such
Servicer's independent accountants. Unless an Event of Default shall have
occurred and be continuing, the reasonable and customary out of pocket costs and
expenses of the Servicer or its representatives or agents in connection with any
such examination, review or discussion under this subsection (b) shall be paid
by the Servicer, and the costs and expenses of the Certificate Insurer, its
agents or representatives shall be paid by the Certificate Insurer. During the
period in which an Event of Default is continuing, any costs and expenses of the
Certificate Insurer, its agents and representatives and of the Servicer, its
agents and representatives shall be paid solely by the Servicer.
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
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Trustee, the Depositor and the Certificate Insurer, which Opinion of Counsel
shall be in form and substance acceptable to the Trustee and the Certificate
Insurer. No such resignation shall become effective until a successor has
assumed such Servicer's responsibilities and obligations hereunder in accordance
with Section 10.02.
Section 9.05 Representations of the Servicer.
The Servicer hereby represents and warrants to the Trustee, the Certificate
Insurer and the Certificateholders as of the Closing Date:
(a) The Servicer is a federally chartered stock savings bank and has
been duly organized and is validly existing and in good standing under the
laws of the United States and has all licenses necessary to carry on its
business as now being conducted and is licensed, qualified and in good
standing in each Mortgaged Property State if the laws of such state require
licensing or qualification in order to conduct business of the type
conducted by the Servicer and perform its obligations as Servicer or exempt
from such licensing or qualification; the Servicer has the power and
authority to execute and deliver this Agreement and to perform in
accordance herewith; the execution, delivery and performance of this
Agreement (including all instruments of transfer to be delivered pursuant
to this Agreement) by the Servicer and the consummation of the transactions
contemplated hereby have been duly and validly authorized by all necessary
action; this Agreement evidences the valid, binding and enforceable
obligation of the Servicer; and all requisite action has been taken by the
Servicer to make this Agreement valid, binding and enforceable upon the
Servicer in accordance with its terms, subject to the effect of bankruptcy,
insolvency, reorganization, moratorium and other, similar laws relating to
or affecting creditors' rights generally or the application of equitable
principles in any proceeding, whether at law or in equity;
(b) All actions, approvals, consents, waivers, exemptions, variances,
franchises, orders, permits, authorizations, rights and licenses required
to be taken, given or obtained, as the case may be, by or from any federal,
state or other governmental authority or agency (other than any such
actions, approvals, etc. under any state securities laws, real estate
syndication or "Blue Sky" statutes, as to which the Servicer makes no such
representation or warranty), that are necessary in connection with the
execution and delivery by the Servicer of the documents to which it is a
party, have been duly taken, given or obtained, as the case may be, are in
full force and effect, are not subject to any pending proceedings or
appeals (administrative, judicial or otherwise) and either the time within
which any appeal therefrom may be taken or review thereof may be obtained
has expired or no review thereof may be obtained or appeal therefrom taken,
and are adequate to authorize the consummation of the transactions
contemplated by this Agreement and the other documents on the part of the
Servicer and the performance by the Servicer of its obligations as Servicer
under this Agreement and such of the other documents to which it is a
party;
(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
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result in the acceleration of any obligation under, any material agreement,
indenture or loan or credit agreement or other material instrument to which
the Servicer or its property is subject, or result in the violation of any
law, rule, regulation, order, judgment or decree to which the Servicer or
its property is subject;
(d) Neither this Agreement nor the Prospectus nor any statement,
report or other document prepared by the Servicer and furnished or to be
furnished pursuant to this Agreement or in connection with the transactions
contemplated hereby contains any untrue statement of material fact or omits
to state a material fact necessary to make the statements contained herein
or therein not misleading;
(e) There is no action, suit, proceeding or investigation pending or,
to the best of the Servicer's knowledge, threatened against the Servicer
which, either in any one instance or in the aggregate, may result in any
material adverse change in the business, operations, financial condition,
properties or assets of the Servicer or in any material impairment of the
right or ability of the Servicer to carry on its business substantially as
now conducted, or in any material liability on the part of the Servicer or
which would draw into question the validity of this Agreement or the
Mortgage Loans or of any action taken or to be taken in connection with the
obligations of the Servicer contemplated herein, or which would be likely
to impair materially the ability of the Servicer to perform under the terms
of this Agreement; and
(f) The Servicer is not in default with respect to any order or decree
of any court or any order, regulation or demand of any federal, state,
municipal or governmental agency, which default might have consequences
that would materially and adversely affect the condition (financial or
other) or operations of the Servicer or its properties or might have
consequences that would materially and adversely affect its performance
hereunder or under any Subservicing Agreement.
Section 9.06 Accounting Upon Resignation or Termination of Servicer.
Upon resignation of the Servicer under Section 9.04 or upon termination of
the Servicer under Section 10.01, the Servicer shall:
(a) deliver to its successor or, if none shall yet have been
appointed, to the Trustee the funds in the Sub-Pool I Principal and
Interest Account, the Sub-Pool II Principal and Interest Account, the
Sub-Pool III Principal and Interest Account or the Sub-Pool IV 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
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(d) execute and deliver such instruments and perform all acts
reasonably requested in order to effect the orderly and efficient transfer
of servicing of the Mortgage Loans to its successor and to more fully and
definitively vest in such successor all rights, powers, duties,
responsibilities, obligations and liabilities of the Servicer under this
Agreement.
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ARTICLE X
DEFAULT
Section 10.01 Events of Default.
(a) In case one or more of the following Events of Default by the Servicer
shall occur and be continuing, that is to say, with respect to a Group:
(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 Group or the Certificate Insurance Policy or
a failure by the Trustee to perform in accordance with this Agreement with
respect to such Group; (B) the failure by the Servicer to make any required
Servicing Advance with respect to a Group, 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
any related Certificateholder with the consent of the Certificate Insurer;
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 Group, 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 Group(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 Group(s) affected by
such Event of Default and in and to the Mortgage Loans of the Group(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 Group 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
Group, shall, subject to Section 10.02, pass to and be vested in the Trustee or
its designee and the Trustee is hereby authorized
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and empowered to execute and deliver, on behalf of the Servicer, as
attorney-in-fact or otherwise, any and all documents and other instruments and
do or cause to be done all other acts or things necessary or appropriate to
effect the purposes of such notice of termination, including, but not limited
to, the transfer and endorsement or assignment of the related Mortgage Loans and
related documents. The Servicer agrees to cooperate with the Trustee in
effecting the termination of the Servicer's responsibilities and rights
hereunder with respect to the related Group, 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 Group. 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 Group 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 Group 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 Group(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 Group. 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 Group, 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 Group, 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 Group or appoint a successor servicer for the related
Group 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
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respect to such Group, the decision of the Certificate Insurer shall control;
provided, however, that if the Certificate Insurer decides to terminate the
Servicer, the Trustee shall be relieved of its obligation to assume the
servicing or to appoint a successor, which shall be the exclusive obligation of
the Certificate Insurer.
The Trustee shall promptly notify Moody's and S&P of the occurrence of an
Event of Default known to a Responsible Officer of the Trustee.
Notwithstanding any termination of the activities of a Servicer hereunder,
the Servicer shall be entitled to receive, out of any late collection of a
Monthly Payment on a Mortgage Loan which was due prior to the notice terminating
the Servicer's rights and obligations as Servicer hereunder and received after
such notice, that portion thereof to which the Servicer would have been entitled
pursuant to Sections 5.04(i) through (ix), and any other amounts payable to the
Servicer hereunder the entitlement to which arose prior to the termination of
its activities hereunder.
Section 10.02 Trustee to Act; Appointment of Successor.
On and after the time the Servicer receives a notice of termination
pursuant to Section 10.01 above, or the Trustee receives the resignation of the
Servicer evidenced by an Opinion of Counsel pursuant to Section 9.04, or the
Servicer is removed as servicer pursuant to this Article X, the Trustee shall
be, with respect to such Group, the successor in all respects to the Servicer in
its capacity as servicer under this Agreement with respect to such Group 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)(v) and
(vi) or 6.06(c)(A)(Y)(iv) and (v) with respect to Group 1, or 6.06(c)(B)(X)(v)
and (vi) or 6.06(c)(B)(Y)(iv) and (v) with respect to Group 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
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Servicer by the terms and provisions hereof, and shall be entitled to select
such responsibilities and duties (and related liabilities) and appoint a
successor servicer to perform the other responsibilities (and related
liabilities). In the event that the Trustee makes such election, the aggregate
compensation payable to the Trustee and the successor servicer may be equal to
(but shall not be in excess of) that set forth in Section 7.03, the breakdown of
such compensation between the Trustee and such successor servicer to be
determined by them. In the event the Trustee makes such election, it shall
provide prompt written notice to the Depositor, which notice shall identify the
successor servicer, the portion of the responsibilities, duties and liabilities
to be performed by the Trustee and the Servicer and the portion of the
compensation of the Servicer which is to be paid to each of the Trustee and such
successor servicer.
Notwithstanding the above, the Trustee may, if it shall be unwilling to so
act, or shall, if it is unable to so act or if the Majority Certificateholders
of the affected Group(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
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compensation shall be in excess of that permitted the Servicer pursuant to
Section 7.03, together with other servicing compensation in the form of
assumption fees, late payment charges or otherwise as provided in this
Agreement. The Servicer, the Trustee, any Custodian and such successor shall
take such action, consistent with this Agreement, as shall be necessary to
effectuate any such succession.
Section 10.03 Waiver of Defaults.
The Majority Certificateholders with respect to a Group, on behalf of all
Certificateholders with respect to such Group, 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 Group 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 Group 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 Group.
(b) Upon receipt of direction to remove the Servicer with respect to the
related Group pursuant to the preceding clause (a), the Trustee shall notify the
Servicer that it has been terminated with respect to such Group and the Servicer
shall be terminated with respect to such Group 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)(i) 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 Group 1, or the Class 2A Pass-Through Rates, with respect to Group 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 any outstanding and unpaid fees and
expenses of the Trustee and the Certificate Insurer relating to this Agreement
that such parties would otherwise have been entitled to pursuant to Sections
12.05 and 6.03(a), in the case of the Trustee, and Section 6.04, in the case of
the Certificate Insurer.
Any such purchase by the Servicer shall be accomplished by remitting to the
Trustee for deposit into the related Certificate Account on the Determination
Date immediately preceding the Remittance Date on which the purchase is to occur
the amount of the Termination Price. On the same day that the Termination Price
is deposited into the related Certificate
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Account, any amounts then on deposit in the Principal and Interest Account with
respect to such Group (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 Group subsequent to such transfer shall belong to the Person purchasing
the Mortgage Loans and REO Properties relating to such Group. For purposes of
calculating the Available Remittance Amount with respect to a Group 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 Group.
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 upon transfer
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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 rights in and to the
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Depositor's Yield, without notice to or the consent of any party of this
Agreement or any Certificateholder.
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ARTICLE XII
THE TRUSTEE
Section 12.01 Duties of Trustee.
The Trustee, prior to the occurrence of an Event of Default and after the
curing of all Events of Default which may have occurred, undertakes to perform
such duties and only such duties as are specifically set forth in this
Agreement. If an Event of Default of which a Responsible Officer of the Trustee
shall have actual knowledge has occurred and has not been cured or waived, the
Trustee shall, except in those cases in which it is required by the terms of
this Agreement to follow the direction of the Certificate Insurer or the Rating
Agencies, exercise such of the rights and powers vested in it by this Agreement,
and use the same degree of care and skill in its exercise as a prudent person
would exercise or use under the circumstances in the conduct of such person's
own affairs.
The Trustee, upon receipt of all resolutions, certificates, statements,
opinions, reports, documents, orders or other instruments furnished to the
Trustee which are specifically required to be furnished pursuant to any
provision of this Agreement, shall examine them to determine whether they
conform to the requirements of this Agreement, provided, however that the
Trustee shall not be responsible for the accuracy or content of any resolution,
certificate, statement, opinion, report, document, order or other instrument
furnished by the Servicer or the Depositor hereunder. If any such instrument is
found not to conform to the requirements of this Agreement, the Trustee shall
notify the Certificate Insurer and request written instructions as to the action
the Certificate Insurer deems appropriate to have the instrument corrected, and
if the instrument is not so corrected, the Trustee will provide notice thereof
to the Certificate Insurer who shall then direct the Trustee as to the action,
if any, to be taken.
No provision of this Agreement shall be construed to relieve the Trustee
from liability for its own negligent action, its own negligent failure to act or
its own willful misconduct; provided, however, that:
(i) Prior to the occurrence of an Event of Default, and after the
curing of all such Events of Default which may have occurred, the duties
and obligations of the Trustee shall be determined solely by the express
provisions of this Agreement, the Trustee shall not be liable except for
the performance of such duties and obligations as are specifically set
forth in this Agreement, no implied covenants or obligations shall be read
into this Agreement against the Trustee and, in the absence of bad faith on
the part of the Trustee, the Trustee may conclusively rely, as to the truth
of the statements and the correctness of the opinions expressed therein,
upon any resolutions, certificates, statements or opinions, reports,
documents, orders or instruments furnished to the Trustee and conforming to
the requirements of this Agreement;
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(ii) The Trustee shall not be personally liable for an error of
judgment made in good faith by a Responsible Officer or other officers of
the Trustee, unless it shall be proved that the Trustee was negligent in
ascertaining the pertinent facts;
(iii) The Trustee shall not be personally liable with respect to any
action taken, suffered or omitted to be taken by it in good faith in
accordance with this Agreement or at the direction of the Certificate
Insurer, the Class 1A Majority Certificateholders and the Class 2A Majority
Certificateholders or any of them relating to the time, method and place of
conducting any proceeding for any remedy available to the Trustee, or
exercising or omitting to exercise any trust or power conferred upon the
Trustee, under this Agreement;
(iv) The Trustee shall not be required to take notice or be deemed to
have notice or knowledge of any default or Event of Default (except a
default or Event of Default set forth under Section 10.01(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
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(vii) The Trustee shall not be deemed a fiduciary for the Certificate
Insurer in its capacity as such, except to the extent the Certificate
Insurer has made an Insured Payment and is thereby subrogated to the rights
of the Certificateholders with respect thereto.
Section 12.02 Certain Matters Affecting the Trustee.
(a) Except as otherwise provided in Section 12.01:
(i) The Trustee may rely and shall be protected in acting or
refraining from acting upon any resolution, Officers' Certificate, Opinion
of Counsel, certificate of auditors or any other certificate, statement,
instrument, opinion, report, notice, request, consent, order, appraisal,
bond or other paper or document believed by it to be genuine and to have
been signed or presented by the proper party or parties;
(ii) The Trustee may consult with counsel and any advice or opinion of
counsel shall be full and complete authorization and protection in respect
of any action taken or suffered or omitted by it hereunder in good faith
and in accordance with such advice or opinion of counsel;
(iii) The Trustee shall be under no obligation to exercise any of the
trusts or powers vested in it by this Agreement or to institute, conduct or
defend by litigation hereunder or in relation hereto at the request, order
or direction of the Certificate Insurer or any of the Certificateholders,
pursuant to the provisions of this Agreement, unless such
Certificateholders or the Certificate Insurer, as applicable, shall have
offered to the Trustee reasonable security or indemnity against the costs,
expenses and liabilities which may be incurred therein or thereby; except
in those cases in which the Trustee is required by the terms of this
Agreement to follow the direction of the Certificate Insurer, the Class 1A
Majority Certificateholders or the Class 2A Majority Certificateholders
nothing contained herein shall, however, relieve the Trustee of the
obligation, upon the occurrence of an Event of Default (which has not been
cured), to exercise such of the rights and powers vested in it by this
Agreement, and to use the same degree of care and skill in its exercise as
a prudent person would exercise or use under the circumstances in the
conduct of such person's own affairs;
(iv) The Trustee shall not be personally liable for any action taken,
suffered or omitted by it in good faith and believed by it to be authorized
or within the discretion or rights or powers conferred upon it by this
Agreement;
(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
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the Certificate Insurer, the Class 1A Majority Certificateholders or the
Class 2A Majority Certificateholders; provided, however, that if the
payment within a reasonable time to the Trustee of the costs, expenses or
liabilities likely to be incurred by it in the making of such investigation
is, in the opinion of the Trustee, not reasonably assured to the Trustee by
the security afforded to it by the terms of this Agreement, the Trustee may
require reasonable indemnity against such cost, expense or liability as a
condition to taking any such action. The reasonable expense of every such
examination shall be paid by the Servicer or, if paid by the Trustee, shall
be repaid by the Servicer upon demand from such Servicer's own funds;
(vi) The right of the Trustee to perform any discretionary act
enumerated in this Agreement shall not be construed as a duty, and the
Trustee shall not be answerable for other than its negligence or willful
misconduct in the performance of such act;
(vii) The Trustee shall not be required to give any bond or surety in
respect of the execution of the Trust created hereby or the powers granted
hereunder; and
(viii) The Trustee may execute any of the trusts or powers hereunder
or perform any duties hereunder either directly or by or through agents or
attorneys.
(b) Following the Startup Day, the Trustee shall not knowingly accept any
contribution of assets to the Trust Fund REMIC, unless the Trustee shall have
received from the Depositor an Opinion of Counsel to the effect that the
inclusion of such assets in the Trust Fund REMIC will not cause the Trust Fund
REMIC to fail to qualify as a REMIC at any time that any of the Certificates are
outstanding or subject the Trust Fund REMIC to any tax under the REMIC
Provisions or other applicable provisions of federal, state and local law or
ordinances.
Section 12.03 Trustee Not Liable for Certificates or Mortgage Loans.
The recitals contained herein and in the Certificates (other than the
certificate of authentication on the Certificates) shall be taken as the
statements of the Depositor, and the Trustee assumes no responsibility for their
correctness. The Trustee makes no representations as to the validity or
sufficiency of this Agreement or of the Certificates or of any Mortgage Loan or
related document (including any document comprising a part of the Mortgage
File). The Trustee shall not be accountable for the use or application by the
Depositor of any of the Certificates or of the proceeds of such Certificates, or
for the use or application of any funds paid to the Servicer in respect of the
Mortgage Loans or deposited in or withdrawn by any 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 Group,
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
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to the Certificate Insurer as evidenced in writing. If such bank publishes
reports of condition at least annually, pursuant to law or to the requirements
of the aforesaid supervising or examining authority, then for the purposes of
this Section 12.06, the combined capital and surplus of such bank shall be
deemed to be its combined capital and surplus as set forth in its most recent
report of condition so published. In case at any time the Trustee shall cease to
be eligible in accordance with the provisions of this Section 12.06, the Trustee
shall resign immediately in the manner and with the effect specified in Section
12.07 hereof.
Section 12.07 Resignation and Removal of the Trustee.
The Trustee may at any time resign and be discharged from the trusts hereby
created by giving written notice thereof to the Servicer, the Rating Agencies
and the Certificate Insurer, not less than 60 days before the date specified in
such notice when such resignation is to take effect. Upon receiving such notice
of resignation, the Servicer shall promptly appoint a successor trustee which
satisfies the eligibility requirements of Section 12.06 by written instrument,
in duplicate, which instrument shall be delivered to the resigning Trustee and
to the successor trustee. A copy of such instrument shall be delivered to the
Certificateholders and the Certificate Insurer by the Servicer. Unless a
successor trustee shall have been so appointed and have accepted appointment
within 60 days after the giving of such notice of resignation, the resigning
Trustee may petition any court of competent jurisdiction for the appointment of
a successor trustee.
If at any time the Trustee shall cease to be eligible in accordance with
the provisions of Section 12.06 and shall fail to resign after written request
therefor by any Servicer, or the Certificate Insurer, or if at any time the
Trustee shall become incapable of acting, or shall be adjudged bankrupt or
insolvent, or a receiver of the Trustee or of its property shall be appointed,
or any public officer shall take charge or control of the Trustee or of its
property or affairs for the purpose of rehabilitation, conservation or
liquidation, then the Servicer or the Certificate Insurer may remove the Trustee
and the Servicer shall, within 30 days after such removal, appoint, subject to
the approval of the Certificate Insurer, which approval shall not be
unreasonably withheld, a successor trustee which satisfies the eligibility
requirements of Section 12.06 by written instrument, in duplicate, which
instrument shall be delivered to the Trustee so removed and to the successor
trustee. A copy of such instrument shall be delivered to the Certificateholders,
each Rating Agency and the Certificate Insurer by the successor trustee.
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
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Servicer shall, within 30 days after such removal, appoint, subject to the
approval of the Certificate Insurer, which approval shall not be unreasonably
withheld, a successor trustee which satisfies the eligibility requirements of
Section 12.06 by written instrument, in duplicate, which instrument shall be
delivered to the Trustee so removed and to the successor trustee. A copy of such
instrument shall be delivered to the Certificateholders, each Rating Agency and
the Certificate Insurer by the successor trustee.
Any resignation or removal of the Trustee and appointment of a successor
trustee pursuant to any of the provisions of this Section shall become effective
upon acceptance of appointment by the successor trustee which satisfies the
eligibility requirements of Section 12.06 as provided in Section 12.08.
Section 12.08 Successor Trustee.
Any successor trustee appointed as provided in Section 12.07 shall execute,
acknowledge and deliver to the Servicer and to its predecessor trustee an
instrument accepting such appointment hereunder, and thereupon the resignation
or removal of the predecessor trustee shall become effective and such successor
trustee, without any further act, deed or conveyance, shall become fully vested
with all the rights, powers, duties and obligations of its predecessor
hereunder, with the like effect as if originally named as trustee herein. The
predecessor trustee shall, to the extent necessary, deliver to the successor
trustee, or Custodian, if any, all Mortgage Files and related documents and
statements held by it hereunder, and the Servicer and the predecessor trustee
shall execute and deliver such instruments and do such other things as may
reasonably be required for more fully and certainly vesting and confirming in
the successor trustee all such rights, powers, duties and obligations.
No successor trustee shall accept appointment as provided in this Section
12.08 unless at the time of such acceptance such successor trustee shall be
eligible under the provisions of Section 12.06 and its appointment shall not
adversely affect the then current rating of the Certificates.
Upon acceptance of appointment by a successor trustee as provided in this
Section 12.08, the Servicer shall mail notice of the succession of such trustee
hereunder to all Holders of Certificates at their addresses as shown in the
Certificate Register. If the Servicer fails to 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
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provisions of Section 12.06, without the execution or filing of any paper or any
further act on the part of any of the parties hereto, anything herein to the
contrary notwithstanding.
Section 12.10 Appointment of Co-Trustee or Separate Trustee.
Notwithstanding any other provisions hereof, at any time, for the purpose
of meeting any legal requirements of any jurisdiction in which any part of the
Trust Fund or property securing the same may at the time be located, the
Servicer and the Trustee acting jointly shall have the power and shall execute
and deliver all instruments to appoint one or more Persons approved by the
Trustee to act as co-trustee or co-trustees, jointly with the Trustee, or
separate trustee or separate trustees, of all or any part of the Trust Fund, and
to vest in such Person or Persons, in such capacity, such title to the Trust
Fund, or any part thereof, and, subject to the other provisions of this Section
12.10, such powers, duties, obligations, rights and trusts as the Servicer and
the Trustee may consider necessary or desirable. Any such co-trustee or separate
trustee shall be approved by the Certificate Insurer. If the Servicer shall not
have joined in such appointment within 15 days after the receipt by it of a
request so to do, or in case an Event of Default shall have occurred and be
continuing, the Trustee alone shall have the power to make such appointment. No
co-trustee or separate trustee hereunder shall be required to meet the terms of
eligibility as a successor trustee under Section 12.06 and no notice to Holders
of Certificates of the appointment of co-trustee(s) or separate trustee(s) shall
be required under Section 12.08.
In the case of any appointment of a co-trustee or separate trustee pursuant
to this Section 12.10, all rights, powers, duties and obligations conferred or
imposed upon the Trustee shall be conferred or imposed upon and exercised or
performed by the Trustee and such separate trustee or co-trustee jointly, except
to the extent that under any law of any jurisdiction in which any particular act
or acts are to be performed (whether as Trustee hereunder or as successor to the
Servicer hereunder), the Trustee shall be incompetent or unqualified to perform
such act or acts, in which event such rights, powers, duties and obligations
(including the holding of title to the Trust Fund or any portion thereof in any
such jurisdiction) shall be exercised and performed by such separate trustee or
co-trustee at the direction of the Trustee.
Any notice, request or other writing given to the Trustee shall be deemed
to have been given to each of the then separate trustees and co-trustees, as
effectively as if given to each 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
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not be responsible for any action or inaction of any such separate trustee or
co-trustee. If any separate trustee or co-trustee shall die, become incapable of
acting, resign or be removed, all of its estates, properties, rights, remedies
and trusts shall vest in and be exercised by the Trustee, to the extent
permitted by law, without the appointment of a new or successor trustee.
Section 12.11 Tax Returns.
The Trustee, upon request, will promptly furnish the Servicer with all such
information as may reasonably be required in connection with the Servicer's
preparation of all Tax Returns of the Trust Fund REMIC or for the purpose of the
Servicer's responding to reasonable requests for information made by
Certificateholders in connection with tax matters and, within five (5) Business
Days of a request therefor, shall (i) sign on behalf of the Trust Fund REMIC any
Tax Return that the Trustee is required to sign pursuant to applicable federal,
state or local tax laws, and (ii) cause such Tax Return to be returned in a
timely manner to the Servicer for distribution to Certificateholders or filed
with a government authority if required.
Section 12.12 Appointment of Custodians.
The Trustee may, with the consent of the Servicer and the Certificate
Insurer, appoint one or more Custodians to hold all or a portion of the
Trustee's Mortgage Files as agent for the Trustee, by entering into a Custodial
Agreement. Subject to this Article XII, the Trustee agrees to comply with the
terms of each Custodial Agreement and to enforce the terms and provisions
thereof against the Custodian for the benefit of the Certificateholders and the
Certificate Insurer. Each Custodian shall be a depository institution subject to
supervision by federal or state authority and shall be qualified to do business
in the jurisdiction in which it holds any Trustee's Mortgage File. Each
Custodial Agreement may be amended only as provided in Section 14.02.
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,
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as the Trustee, being advised by counsel, shall deem most effectual to protect
and enforce any of the rights of the Trustee or the Certificateholders.
Section 12.15 Control of Remedies by Certificate Insurer and
Certificateholders.
Notwithstanding anything herein to the contrary, the Certificate Insurer or
the Class 1A and Class 2A Majority Certificateholders, with the consent of the
Certificate Insurer, may direct the time, method and place of conducting any
proceeding relating to the Trust Fund or the Certificates or for any remedy
available to the Trustee with respect to the Certificates or exercising any
trust or power conferred on the Trustee with respect to the Certificates or the
Trust Fund; provided, that:
(i) such direction shall not be unlawful or in conflict with this
Agreement;
(ii) the Trustee shall have been provided with indemnity satisfactory
to it;
(iii) the Trustee may take any other action deemed proper by the
Trustee which is not inconsistent with such direction; and
(iv) that the Trustee need not take any action which it determines
might involve it in liability or may be unjustly prejudicial to the Holders
not so directing.
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ARTICLE XIII
REMIC PROVISIONS
Section 13.01 REMIC Administration.
(a) The Servicer shall make an election to treat the Trust Fund REMIC as a
REMIC under the Code and, if necessary, under applicable state law. Such
elections will be made on Form 1066 or other appropriate federal tax or
information return or any appropriate state return for the taxable year ending
on the last day of the calendar year in which the Certificates are issued. For
the purposes of the REMIC election in respect of the Trust Fund REMIC, the Class
1A-1, Class 1A-2, Class 2A-1 and Class 2A-2 Certificates shall be designated as
the "regular interests", and the Class R Certificates shall be designated as the
sole class of "residual interests" in the Trust Fund REMIC. The Servicer shall
not permit the creation of any "interests" in the Trust Fund REMIC (within the
meaning of Section 860G of the Code) other the than interests represented by the
Certificates.
(b) The Closing Date is hereby designated as the "Startup Day" of the Trust
Fund REMIC within the meaning of Section 860G(a)(9) of the Code.
(c) The Servicer shall hold the Tax Matters Person Residual Interest
Certificate representing a 0.01% Percentage Interest of the Class R Certificates
and is designated as the Tax Matters Person of the Trust Fund REMIC, as provided
under Treasury regulations Section 1.860F-4(d) and temporary Treasury
regulations Section 301.6231(a)(7)-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
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Provisions or other compliance guidance issued by the Internal Revenue Service
or any state or local taxing authority. Among its other duties, as required by
the Code, the REMIC Provisions or other such compliance guidance, the Servicer
shall provide (i) to any Transferor of a Class R Certificate such information as
is necessary for the application of any tax relating to the transfer of a Class
R Certificate to any Person who is not a Permitted Transferee, (ii) to
Certificateholders such information or reports as are required by the Code or
the REMIC Provisions including reports relating to interest, original issue
discount and market discount or premium (using the Prepayment Assumption) and
(iii) to the Internal Revenue Service the name, title, address and telephone
number of the person who will serve as the representative of the Trust Fund.
(f) To the extent that the affairs of the Trust Fund are within its control
and the scope of its specific responsibilities under this Agreement, the
Servicer shall take such action and shall cause the Trust Fund REMIC created
under this Agreement to take such action as shall be reasonably necessary to
create or maintain the status thereof as a REMIC under the REMIC Provisions (and
the Trustee shall assist it, to the extent reasonably requested by it). The
Servicer shall not knowingly or intentionally take any action, cause the Trust
Fund REMIC to take any action or fail to take (or fail to cause to be taken) any
action that, under the REMIC Provisions, if taken or not taken, as the case may
be, could (i) endanger the status of the Trust Fund REMIC as a REMIC or (ii)
result in the imposition of a tax upon the Trust Fund REMIC (including but not
limited to the tax on prohibited transactions as defined in Section 860F(a)(2)
of the Code and the tax on contributions to a REMIC set forth in Section 860G(d)
of the Code) (either such event, an "Adverse REMIC Event") unless the Servicer
has received an Opinion of Counsel to the effect that the contemplated action
will not, with respect to the Trust Fund REMIC created hereunder, endanger such
status or result in the imposition of such a tax. If the Servicer has delivered
to the Trustee an Opinion of Counsel indicating that an action or omission of
the Trustee not otherwise required hereby may result in an Adverse REMIC Event,
the Trustee shall not take such action, or omit taking such action, as the case
may be. In addition, prior to taking any action with respect to the Trust Fund
REMIC or its assets, or causing the Trust Fund REMIC to take any action, which
is not expressly permitted under the terms of this Agreement, the Trustee shall
consult with the Servicer or its designee with respect to whether such action
may cause an Adverse REMIC Event and the Trustee shall not take any such action
or cause the Trust Fund REMIC to take any such action as to which the Servicer
has advised it in writing that an Adverse REMIC Event may occur. If the Trustee
so consults with the Servicer and the Servicer fails to respond within three
Business Days, the Trustee may take such action, provided that such action would
not otherwise constitute a breach of this Agreement. The Servicer may consult
with counsel as to the rendering of such written advice, and the cost of such
consultation and the production of any Opinions of Counsel, or written advice,
shall be borne by the party seeking to take the action not otherwise permitted
by this Agreement; provided, however that in no event shall the Trustee be
liable or responsible for such costs. The Trustee may conclusively presume that
any action taken or omitted at the written direction or request of the Servicer
will not result in an Adverse REMIC Event, and the Trustee shall not 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
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from foreclosure property" of the Trust Fund REMIC, as defined in Section
860G(c) of the Code, on any contributions to the Trust Fund REMIC after the
Startup Day pursuant to Section 860G(d) of the Code, or any other tax is imposed
by the Code or any applicable provisions of state or local tax laws, such tax
shall be charged (i) against the party the actions of which gave rise to such
taxes and (ii) otherwise against amounts on deposit in the related Certificate
Account and shall be paid by withdrawal therefrom.
(h) On or before April 15 of each calendar year, commencing April 15, 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 December 26, 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 Group 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.
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(n) All expenses incurred by the Servicer in performing its duties under
this Article XIII (other than as provided in Section 13.01(d) and expenses for
salaries of its own employees and overhead) shall constitute Servicing Advances
under this Agreement.
Section 13.02 Prohibited Transactions and Activities.
Neither the Depositor, the Trustee nor the Servicer shall sell, dispose of
or substitute for any of the Mortgage Loans (except in connection with (i) the
foreclosure of a Mortgage Loan, including but not limited to, the acquisition or
sale of a Mortgaged Property acquired by deed in lieu of foreclosure, (ii) the
bankruptcy of the Trust Fund, (iii) the termination of the Trust Fund REMIC
pursuant to Article XI or (iv) a purchase of Mortgage Loans pursuant to Articles
II or III), nor acquire any assets for the Trust Fund, nor sell or dispose of
any investments in the Certificate Account for gain, nor accept any
contributions to the Trust Fund REMIC after the Closing Date unless it has
received an Opinion of Counsel (at the expense of the party seeking to cause
such sale, disposition, substitution or acquisition) indicating that such sale,
disposition, substitution or acquisition will not (a) affect adversely the
status of the Trust Fund REMIC as a REMIC or (b) cause the Trust Fund REMIC to
be subject to a tax on "prohibited transactions", "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
Group if the Majority Certificateholders of the related Group 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 Groups, 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 Superior Bank FSB, as Servicer, One Lincoln Centre, Oakbrook
Terrace, Illinois 60181, Attention: William C. Bracken, or such
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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 n AFC 1997-4, (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 C 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,
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provisions or terms of this Agreement and shall in no way affect the validity or
enforceability of the other covenants, agreements, provisions or terms of this
Agreement.
Section 14.08 No Partnership.
Nothing herein contained shall be deemed or construed to create a
co-partnership or joint venture between the parties hereto and the services of
the Servicer shall be rendered as an independent contractor and not as agent for
the Certificateholders.
Section 14.09 Counterparts.
This Agreement may be executed in one or more counterparts and by the
different parties hereto on separate counterparts, each of which, when so
executed, shall be deemed to be an original; such counterparts, together, shall
constitute one and the same agreement.
Section 14.10 Successors and Assigns.
This Agreement shall inure to the benefit of and be binding upon the
Servicer, the Depositor, the Trustee and the Certificateholders and their
respective successors and assigns.
Section 14.11 Headings.
The headings of the various sections of this Agreement have been inserted
for convenience of reference only and shall not be deemed to be part of this
Agreement.
Section 14.12 The Certificate Insurer.
The Certificate Insurer shall be a third-party beneficiary of this
Agreement, entitled to enforce any provisions hereof as if a party hereto. Any
right conferred to the Certificate Insurer with respect to a Group 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 Group are no longer outstanding hereunder,
and no amounts owed to the Certificate Insurer hereunder with respect to such
Group remain unpaid, the Certificate Insurer's rights hereunder with respect to
such Group 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.
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Each such Paying Agent other than the Trustee shall execute and deliver to
the Trustee an instrument in which such Paying Agent shall agree with the
Trustee, subject to the provisions of Section 6.06, that such Paying Agent will:
(1) allocate all sums received for distribution to the Holders of
Certificates of each Class for which it is acting as Paying Agent on each
Remittance Date among such Holders in the proportion specified by the
Trustee; and
(2) hold all sums held by it for the distribution of amounts due with
respect to the Certificates in trust for the benefit of the Holders
entitled thereto until such sums shall be paid to such Holders or otherwise
disposed of as herein provided and pay such sums to such Persons as herein
provided.
Any Paying Agent other than the Trustee may at any time resign and be
discharged of the duties and obligations created by this Agreement by giving at
least sixty (60) days written notice to the Trustee. Any such Paying Agent may
be removed at any time by an instrument filed with such Paying Agent signed by
the Trustee.
In the event of the resignation or removal of any Paying Agent other than
the Trustee such Paying Agent shall pay over, assign and deliver any moneys held
by it as Paying Agent to its successor, or if there be no successor, to the
Trustee.
Upon the appointment, removal or notice of resignation of any Paying Agent,
the Trustee shall notify the Certificate Insurer and the Certificateholders by
mailing notice thereof to their addresses appearing on the Certificate Register.
Section 14.14 Actions of Certificateholders.
(a) Any request, demand, authorization, direction, notice, consent, waiver
or other action provided by this Agreement to be given or taken by
Certificateholders may be embodied in and evidenced by one or more instruments
of substantially similar tenor signed by such Certificateholders in person or by
agent duly appointed in writing; and except as herein otherwise expressly
provided, such action shall become effective when such instrument or 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
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done, or omitted to be done, by the Trustee, the Depositor or either Servicer in
reliance thereon, whether or not notation of such action is made upon such
Certificate.
(d) The Trustee may require additional proof of any matter referred to in
this Section 14.14 as it shall deem necessary.
Section 14.15 Grant of Security Interest.
It is the express intent of the parties hereto that the conveyance of the
Mortgage Loans and all other assets constituting the Trust Fund, by the
Depositor to the Trustee be, and be construed as, a sale of the Mortgage Loans
and such other assets constituting the Trust Fund by the Depositor and not a
pledge by the Depositor to secure a debt or other obligation of the Depositor.
However, in the event that, notwithstanding the aforementioned intent of the
parties, the Mortgage Loans and other assets constituting the Trust Fund are
held to be property of the Depositor, then it is the express intent of the
parties that such conveyance be deemed as a pledge of the Mortgage Loans and all
other assets constituting the Trust Fund to the Trustee to secure a debt or
other obligation of the Depositor and this Agreement shall be deemed to be a
security agreement within the meaning of the Uniform Commercial Code and the
conveyances provided for in Section 2.01 hereof shall be deemed a grant by the
Depositor to the Trustee of a security interest in all of the Depositor's right,
title and interest in and to the Mortgage Loans and all other assets
constituting the Trust Fund. Accordingly, the Depositor hereby grants to the
Trustee a security interest in the Mortgage Loans and all other assets
constituting the Trust Fund for the purpose of securing to the Trustee the
performance by the Depositor of the obligations under this Agreement.
Notwithstanding the foregoing, the parties hereto intend the conveyances
pursuant to Section 2.01 to be a true, absolute and unconditional sale of the
Mortgage Loans and all other assets constituting the Trust Fund by the Depositor
to the Trustee. The Depositor and the Trustee (at the written direction and
expense of the Depositor) shall take such actions as may be necessary to ensure
that if this Agreement were deemed to create a security interest, such security
interest would be deemed to be a perfected security interest of first priority
under applicable law and will be maintained as such for the term of this
Agreement. Without limiting the generality of the foregoing, the Servicer shall
file, or shall cause to be filed, all filings necessary to maintain the
effectiveness of any original filings necessary under the Uniform Commercial
Code to perfect the Trustee's security interest in or lien on the Mortgage
Loans, including, without limitation, (x) continuation statements and (y) such
other statements as may be occasioned by (i) any change of name of the Depositor
or Trustee, (ii) any change of location of the place of business or the chief
executive office of the Depositor or (iii) any transfer of any interest of the
Depositor in any Mortgage Loan.
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IN WITNESS WHEREOF, the Servicer, the Trustee and the Depositor have caused
their names to be signed hereto by their respective officers thereunto duly
authorized as of the day and year first above written.
SUPERIOR BANK FSB, in its capacities as
Depositor and Servicer
By: _____________________________________
Name: William C. Bracken
Title: Chief Financial Officer
Senior Vice President
LASALLE NATIONAL BANK, as Trustee
By: _____________________________________
Name:
Title:
<PAGE>
State of )
) ss.:
County of )
On the __th day of December, 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 December, 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 December, 1997 before me, a Notary Public in and for
the State of Illinois, personally appeared _____________ known to me to be
_____________ 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 December 1, 1997, Series 1997-4]
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
<PAGE>
(American Land Title 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 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 Mixed Use Loan and Commercial
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
-2-
<PAGE>
assignments of Assignment of Leases, if any (with recording
information indicated thereon), or (B) if the original of such
intervening assignments of Assignment of Leases has not yet been
returned from the recording office, a copy of such original, certified
by an appropriate officer or approved signatory of the Depositor or
the closing attorney or any officer of the title insurer that issued
the related title insurance policy, or commitment therefor, or its
duly authorized agent, as being a true and complete copy of the
original of such intervening assignment of Assignment of Leases
submitted for recording; (iv) either (a) a copy of the UCC-1 financing
statement and any related continuation statements, if any, each
showing the Mortgagor as debtor and mortgagee as secured party and
each with evidence of filing thereon, or (b) if the copy of the UCC-1
financing statement has not yet been returned from the filing office,
a copy of such UCC-1 financing statement, certified by an appropriate
officer or approved signatory of the Depositor or the closing attorney
or any officer of the title insurer that issued the related title
insurance policy, or commitment therefor, or its duly authorized
agent, as being a true and complete copy of the original of such UCC-1
financing statement submitted for filing; (v) an original executed
form UCC-2 or UCC-3 financing statement, in form suitable for filing,
disclosing the assignment in blank, of the security interest in the
personal property constituting security for repayment of the Mortgage
Loan; and (vi) either (A) an original copy of all intervening
assignments of UCC-3 financing statements, if any (with evidence of
filing thereon), or (B) if the original of such intervening
assignments of UCC-3 financing statements has not yet been returned
from the filing office, a copy of such original, certified by an
appropriate officer or approved signatory of the Depositor or the
closing attorney or any officer of the title insurer that issued the
related title insurance policy, or commitment therefor, or its duly
authorized agent, as being a true and complete copy of the original of
such intervening assignments of UCC-3 financing statements submitted
for recording. If in connection with any Mortgage Loan the Depositor
cannot deliver any such financing statement(s) with evidence of filing
thereon because such financing statement(s) has not yet been returned
by the public filing office where such financing statement(s) has been
submitted for filing, then the Depositor shall deliver or cause to be
delivered a photocopy of such financing statement(s) (certified by the
Depositor to be a true and complete copy) together with an officers'
certificate stating that such financing statement(s) has been
dispatched to the appropriate public filing office for filing.
9. Mortgage Loan closing statement and any other truth-in-lending or real
estate settlement procedure forms required by law.
10. Residential loan application.
11. Verification of employment and income, and tax returns, if any.
12. Credit report on the mortgagor.
-3-
<PAGE>
13. The full appraisal made in connection with the origination of the
related Mortgage Loan with photographs of the subject property and of
comparable properties, constituting evidence sufficient to indicate
that the Mortgaged Property relates to a Residential Dwelling.
14. With respect to Group 1, to the extent that such Group 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 1997-4 Original Class 1A[-1][-2]
Class 1A[-1][-2] Principal Balance:
$_______________.
No. ________
Date of Pooling and Original Dollar Amount as of the Closing Date
Servicing Agreement: Represented by this Certificate:
December 1, 1997 $_______________.
Servicer: Percentage Interest of
Superior Bank FSB this Certificate:
_____%
First Remittance Date:
January 26, 1998
Original [Sub-Pool I] [Sub-Pool II] Principal
Closing Date: Balance: $_____________
December __1997
Original [Sub-Pool I] [Sub-Pool II] Pre-Funded
Class 1A[-1][-2] Amount: $_____________
Pass-Through Rate:
variable Latest Scheduled Maturity Date of the Class 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 1A[-1][-2] Certificates of the
above referenced series (the "Class 1A[-1][-2] Certificates") in a Trust Fund
consisting primarily of certain residential first and second mortgage loans (the
"Mortgage Loans") serviced by 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 December 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 Group 1 Initial Mortgage Loans is
December 1, 1997. To the
<PAGE>
extent not defined herein, the capitalized terms used herein have the meanings
assigned in the Agreement. This Certificate is issued under and is subject to
the terms, provisions and conditions of the Agreement, to which terms and
provisions the Holder of this Certificate by virtue of the acceptance hereof
assents and by which such Holder is bound.
On each Remittance Date, commencing on January 26, 1998, 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 Certificates and the Class 2A Certificates, and the last
Business Day of the month preceding the month of such Remittance, with respect
to the Class R Certificates (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] Certificates on such
Remittance Date pursuant to Section 6.06 of the Agreement.
Distributions on this Certificate will be made by the Trustee or Paying
Agent by wire transfer of immediately available funds to the account of the
Person entitled thereto as shall appear on the Certificate Register without the
presentation or surrender of this Certificate or the making of any notation
thereon, at a bank or other entity having appropriate facilities therefor, if
such Person shall own of record (i) any Class R Certificate or (ii) any Class A
Certificate with an initial related Class A Principal Balance in excess of
$5,000,000, and shall have so notified the Trustee in writing at least five
Business Days prior to the related Remittance Date, or otherwise by check mailed
to the address of such Person appearing in the Certificate Register.
Notwithstanding the above, the final distribution on this Certificate will be
made after due notice by the Servicer of the pendency of such distribution and
only upon presentation and surrender of this Certificate at the office or agency
maintained for that purpose by the Certificate Registrar in Chicago, Illinois.
-2-
<PAGE>
IN WITNESS WHEREOF, the Trustee on behalf of the Trust has caused this
Certificate to be duly executed under its official seal.
LASALLE NATIONAL BANK,
as Trustee
By:
----------------------------------
Authorized Officer
Dated: ____________
(Seal)
CERTIFICATE OF AUTHENTICATION
This is a Class 1A[-1][-2] 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 1997-4 Original Class 2A[-1][-2]
Class 2A[-1][-2] Principal Balance:
$_______________.
No. ________
Original Dollar Amount as of the Closing Date
Date of Pooling and Represented by this Certificate:
Servicing Agreement: $_______________.
December 1, 1997
Percentage Interest of
Servicer: this Certificate:
Superior Bank FSB _____%
First Remittance Date: Original [Sub-Pool III] [Sub-Pool IV] Principal
January 26, 1998 Balance: $______________
Closing Date: Original [Sub-Pool III] [Sub-Pool IV] Pre-Funded
December __, 1997 Amount:
$_______________.
Pass-Through Rate:
Variable Latest Scheduled Maturity Date of the Class 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[-1][-2] 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 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 December 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 Group 2 Initial Mortgage Loans is December
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 January 26, 1998, 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 Certificates and the Class 2A Certificates, and the last
Business Day of the month preceding the month of such Remittance Date, with
respect to the Class R Certificates (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[-1][-2] Certificates on
such Remittance Date pursuant to Section 6.06 of the Agreement.
Distributions on this Certificate will be made by the Trustee or Paying
Agent by wire transfer of immediately available funds to the account of the
Person entitled thereto as shall appear on the Certificate Register without the
presentation or surrender of this Certificate or the making of any notation
thereon, at a bank or other entity having appropriate facilities therefor, if
such Person shall own of record (i) any Class R Certificate or (ii) any Class A
Certificate with an initial related Class A Principal Balance in excess of
$5,000,000, and shall have so notified the Trustee in writing at least five
Business Days prior to the related Remittance Date, or otherwise by check mailed
to the address of such Person appearing in the Certificate Register.
Notwithstanding the above, the final distribution on this Certificate will be
made after due notice by the Servicer of the pendency of such distribution and
only upon presentation and surrender of this Certificate at the office or agency
maintained for that purpose by the Certificate Registrar in Chicago, Illinois.
-2-
<PAGE>
IN WITNESS WHEREOF, the Trustee on behalf of the Trust has caused this
Certificate to be duly executed under its official seal.
LASALLE NATIONAL BANK,
as Trustee
By:
----------------------------------
Authorized Officer
Dated: ____________
(Seal)
CERTIFICATE OF AUTHENTICATION
This is a Class 2A[-1][-2] 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
<PAGE>
OPINION OF COUNSEL WHICH ESTABLISHES TO THE SATISFACTION OF THE SERVICER AND THE
TRUSTEE THAT SUCH TRANSFER WILL NOT RESULT IN A VIOLATION OF SECTION 406 OF
ERISA OR SECTION 4975 OF THE CODE OR CAUSE THE SERVICER OR THE TRUSTEE TO BE
DEEMED A FIDUCIARY OF SUCH PLAN OR RESULT IN THE IMPOSITION OF AN EXCISE TAX
UNDER THE CODE.
AFC Mortgage Loan Asset Backed Certificate
Series 1997-4 Percentage Interest of
Class R this Certificate:
_____%
No.__________
Date of Pooling and Original Pool Principal Balance:
Servicing Agreement: $________________.
December 1, 1997
Original Pre-Funded Amount:
Servicer: $___________.
Superior Bank FSB
Trustee: LaSalle National Bank
First Remittance Date: Closing Date:
January 26, 1998 December __, 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 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 December 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 December 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 January 26, 1998, the Trustee or a
Paying Agent shall distribute to the Person in whose name this Certificate is
registered on the last Business Day of the month preceding the month of such
Remittance (the "Record Date"), an amount equal to the product of the Percentage
Interest evidenced by this Certificate and any
-2-
<PAGE>
amounts required to be distributed to the Holders of the Class R Certificates on
such Remittance Date pursuant to the Agreement.
Distributions on this Certificate will be made by the Trustee or Paying
Agent by wire transfer of immediately available funds to the account of the
Person entitled thereto as shall appear on the Certificate Register without the
presentation or surrender of this Certificate or the making of any notation
thereon, at a bank or other entity having appropriate facilities therefor, if
such Person shall own of record (i) any Class R Certificate or (ii) any Class A
Certificate with an initial related Class A Principal Balance in excess of
$5,000,000, and shall have so notified the Trustee in writing at least five
Business Days prior to the related Remittance Date, or otherwise by check mailed
to the address of such Person appearing in the Certificate Register.
Notwithstanding the above, the final distribution on this Certificate will be
made after due notice by the Servicer of the pendency of such distribution and
only upon presentation and surrender of this Certificate at the office or agency
maintained for that purpose by the Certificate Registrar in Chicago, Illinois.
No transfer of a Class R Certificate or any interest therein shall be made
to any employee benefit plan or other retirement arrangement, including
individual retirement accounts and annuities, Keogh plans and collective
investment funds and separate accounts in which such plans, accounts or
arrangements are invested, that is subject to the Employment Retirement Income
Security Act of 1974, as amended ("ERISA"), or the Code (each, a "Plan"), unless
the prospective transferee of a Class R Certificate provides the Servicer and
the Trustee with a certification of facts and, at its own expense, an Opinion of
Counsel which establish to the satisfaction of the Servicer and the Trustee that
such transfer will not result in a violation of Section 406 of ERISA or Section
4975 of the Code or cause the Servicer or the Trustee to be deemed a fiduciary
of such Plan or result in the imposition of an excise tax under Section 4975 of
the Code.
As provided in the Agreement and subject to certain limitations therein set
forth, including, without limitation, execution and/or delivery by the proposed
transferor and/or transferee, as appropriate, the Resale Certification (Exhibit
D to the Agreement), and, if required by the Trustee, an opinion of counsel
relating to the exemption from registration under the 1933 Act pursuant to which
the proposed transfer is to be made, the Transfer Affidavit (Exhibit J to the
Agreement) and Transfer Certificate (Exhibit J-1 to the Agreement) described in
Section 4.02(c)(ii) of the Agreement, and, if the proposed transferee is a Plan,
the certification and opinion of counsel described on the front of this
Certificate, the transfer of this Certificate is registrable in the Certificate
Register upon surrender of this Certificate for registration of transfer at the
offices or agencies maintained by the Trustee in Chicago, Illinois, accompanied
by a written instrument of transfer in the form of Exhibit E to the Agreement,
or such other endorsement or written instrument of transfer as is satisfactory
to the Trustee, duly 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 1997-4, Class
1A-1, Class 1A-2, Class 2A-1, Class 2A-2 and Class R (herein called the
"Certificates") consisting of Group 1 and Group 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 Group or are deposited in the related Certificate
Account, related Reserve Account, related Principal and Interest Account,
related Trustee Expense Account, related Pre-Funding Account and the related
Interest Coverage 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 Group, the related Pre-Funded
Amount, the related Initial Reserve Account Deposit, the related Interest
Coverage Amount, 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 Group will be available to Holders of the Class A Certificates
related to the other Group. 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
Reserve Account, the related Trustee Expense Account and the related Interest
Coverage Account may be made by the Servicer or the Trustee, as the case may be,
from time to time for purposes other than distributions to Certificateholders,
such purposes including reimbursement to the Servicer or the Depositor of
<PAGE>
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 2A-1, Class 2A-2 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
-2-
<PAGE>
under the Agreement and the payment of all amounts due and payable to the
Certificate Insurer and the Trustee, (ii) the purchase by the Servicer of all
outstanding Mortgage Loans and REO Properties of the Group 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
December 1, 1997, among Superior Bank FSB, as ("Depositor"), Superior Bank FSB,
as servicer (the "Servicer"), and LaSalle National Bank, as Trustee (the
"Agreement"), we hereby authorize and request you to establish four accounts, as
Principal and Interest Accounts pursuant to Section 5.03 of the Agreement, to be
designated as "Sub-Pool I Principal and Interest Account, Superior Bank FSB, in
trust for the registered holders of AFC Mortgage Loan Asset Backed Certificates,
Series 1997-4", "Sub-Pool II Principal and Interest Account, Superior Bank FSB,
in trust for the registered holders of AFC Mortgage Loan Asset Backed
Certificates, Series 1997-4", ASub-Pool III Principal and Interest Account,
Superior Bank FSB, in trust for the registered holders of AFC Mortgage Loan
Asset Backed Certificates, Series 1997-4" and "Sub-Pool IV Principal and
Interest Account, Superior Bank FSB, in trust for the registered holders of AFC
Mortgage Loan Asset Backed Certificates, Series 1997-4." 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.
Superior Bank FSB
By:
----------------------------------
Name: _______________________
Title: _______________________
<PAGE>
The undersigned hereby certifies that the above described accounts have
each been established as a trust account under Account Number ___________ with
respect to Sub-Pool I, Account Number __________ with respect to Sub-Pool II,
Account Number __________ with respect to Sub-Pool III and Account Number
__________ with respect to Sub-Pool IV 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 1997-4, dated as of December 1, 1997 among
Superior Bank FSB, as Depositor, Superior Bank FSB -
Servicing Division, 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
<PAGE>
Custodial Agreement, and from and after the date hereof, the Purchaser
assumes for the benefit of each of the Servicer and the Seller all of the
Seller's obligations as Certificateholder thereunder;
b. The Purchaser understands that the Certificate has not been
registered under the 1933 Act or the securities laws of any state;
c. The Purchaser is acquiring the Certificate [for investment] for its
own account only and not for any other person;
d. The Purchaser considers itself a substantial, sophisticated
institutional investor having such knowledge and experience in financial
and business matters that it is capable of evaluating the merits and risks
of investment in the Certificate;
e. The Purchaser has been furnished with all information regarding the
Certificate that it has requested from the Seller, the Trustee or the
Servicer; and
f. Neither the Purchaser nor anyone acting on its behalf has offered,
transferred, pledged, sold or otherwise disposed of the Certificate, any
interest in the Certificate or any other similar security to, or solicited
any offer to buy or accept a transfer, pledge or other disposition of the
Certificate, any interest in the Certificate or any other similar security
from, or otherwise approached or negotiated with respect to the
Certificate, any interest in the Certificate or any other similar security
with, any person in any manner, or made any general solicitation by means
of general advertising or in any other manner, or taken any other action,
which would constitute a distribution of the Certificate under the 1933 Act
or which would render the disposition of the Certificate a violation of
Section 5 of the 1933 Act or require registration pursuant thereto, nor
will it act, nor has it authorized or will it authorize any person to act,
in such manner with respect to the Certificate.
3. The Purchaser warrants and represents to, and covenants with, the
Seller, the Servicer and the Depositor that:
a. The Purchaser agrees to be bound, as Certificateholder, by the
restrictions on transfer contained in the Pooling and Servicing Agreement;
b. Either: (1) the Purchaser is not an employee benefit plan within
the meaning of section 3(3) of the Employee Retirement Income Security Act
of 1974, as amended ("ERISA") (a "Plan"), or a plan within the meaning of
section 4975(e)(1) of the Internal Revenue Code of 1986 ("Code") (also a
"Plan"), and the Purchaser is not directly or indirectly purchasing the
Certificates on behalf of, as investment manager of, as named fiduciary of,
as trustee of, or with assets of a Plan; or (2) Purchaser's purchase of the
Certificate(s) will not result in a prohibited transaction under section
406 of ERISA or section 4975 of the Code.
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
-2-
<PAGE>
deemed to be an original; such counterparts, together, shall constitute one and
the same agreement.
IN WITNESS WHEREOF, the parties have caused this Resale Certification to be
executed by their duly authorized officers as of the date first above written.
__________________________________, __________________________________,
Seller Purchaser
By: By:
------------------------------- -------------------------------
Name: ________________________ Name: ________________________
Title: ________________________ Title: ________________________
Taxpayer Taxpayer
Identification No. ____________ Identification No. ____________
-3-
<PAGE>
EXHIBIT E
ASSIGNMENT
THIS ASSIGNMENT dated as of the day of __________, 19 , by and between
___________________________________________________ ("Assignor") and
_____________________________________ ("Assignee"), provides:
That for and in consideration of the sum of TEN DOLLARS ($10.00) and other
valuable consideration, the receipt and sufficiency of which hereby are
acknowledged, the parties hereby agree as follows:
1. Assignor hereby grants, transfers and assigns to Assignee all of the
right, title and interest of Assignor, as Certificateholder, in, to and under
that certain Pooling and Servicing Agreement (the "Pooling and Servicing
Agreement"), dated as of December 1, 1997, by and among LaSalle National Bank,
as Trustee ("Trustee"), Superior Bank FSB, as Depositor, and Superior Bank FSB,
as Servicer, and that certain Certificate, Class _____, No. __, Series 1997-4
(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
1997-4, Class ___, No. __, issued pursuant to that
certain Pooling and Servicing Agreement, dated as of
December 1, 1997, among Superior Bank FSB, as Depositor,
Superior Bank FSB - Servicing Division, 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 December 1, 1997
(the "Pooling and Servicing Agreement"), among Superior Bank FSB,
as Depositor, 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 December 1, 1997
(the "Pooling and Servicing Agreement"), among Superior Bank FSB,
as Depositor, 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
<PAGE>
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.
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 December 1, 1997
(the "Pooling and Servicing Agreement"), among Superior Bank FSB,
as Depositor, Superior Bank FSB, as Servicer, and LaSalle
National Bank, as Trustee, relating to AFC Mortgage Loan Asset
Backed Certificates, Series 1997-4
-----------------------------------------------------------------
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>
EXHIBIT H-1
MORTGAGE LOAN SCHEDULE FOR SUB-POOL I
<PAGE>
<TABLE>
ALLIANCE FUNDING Sale Schedule - Group 1, Sub-Pool I
A division of Superior Bank FSB 1997-4 Class 1 - Initial of Fixed Rate Mortgages - Settlement 12/22/97
Page 1 12/18/97
<CAPTION>
Zip
Pool ID Sale ID Account Name Address City State Code
- ----------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C>
54 BSC35 800225385 TUCKER, TOMMY N 342 HICKORY HAMMOCK ROAD LAKE WALES FL 33853
54 BSC35 800228942 ELY BETTY A 31 WEST MULLICA ROAD LITTLE EGG HARBOR NJ 08087
54 BSC35 800251019 STENGER MARY K 1931 43RD STREET SOUTH ST PETERSBURG FL 33711
54 BSC35 800254393 GROSSE JEFFREY A 1364 HART ST AKRON OH 44306
54 BSC35 800255382 ZALINSKY JOHN 1280 GLENN AVE UNION NJ 07853
54 BSC35 800256851 LESCAVAGE BENJAMIN J 144 S MAIN STREET MANHEIM PA 17545
54 BSC35 800262123 TERRY DANIEL 162 MILLER ROAD LEESBURG GA 31763
54 BSC35 800266561 BOWEN WESLEY 5603 TOM PARHAM ROAD OXFORD NC 27565
54 BSC35 800272049 FLICKENSCHIL YVETTE 43 TRAIL ONE WURTSBORO NY 12790
54 BSC35 800275414 HOLDY JAMIE L 71 APPLEGATE DR CENTRAL ISLIP NY 11722
54 BSC35 800278368 KNOWLES GRETCHEN 417 WARWICK AVENUE MOUNT VERNON NY 10553
54 BSC35 800285173 PACHON HENRY 40 VOGEL LOOP STATEN ISLAND NY 10314
54 BSC35 800297293 HILDRETH TERRY 3724 MARGARET WALLACE ROAD MATTHEWS NC 28105
54 BSC35 800300121 BAKER WYATT N 1732 RAGLAND AVENUE CLEARWATER FL 33765
54 BSC35 800304677 SMITH JAMES M 425 OLEANDER ROAD LAKE WALES FL 33853
54 BSC35 800304743 PEREZ PEDRO P. 6895 SEWELL AVENUE MIZPAH NJ 08342
54 BSC35 800311474 LAMBERT MALVIN H 1271 WOODLAWN TERRACE CLEARWATER FL 33755
54 BSC35 800311961 ANDERSON ELLEN 600 52ND AVENUE SOUTH ST PETERSBURG FL 33705
54 BSC35 800313405 SIMERSON LEON L 57 LAKE OF THE PINES EAST STROUDSBURG PA 18301
54 BSC35 800317562 BERBERICH CHARLES T 180 FARMINGDALE RD CHESTER NY 10918
54 BSC35 800321580 URQUHART KAY A. 8606 NORTH 17TH STREET TAMPA FL 33604
54 BSC35 800323917 BOOTH RICHARD A 3624 TIMBERLAKE ROAD EAST LAKELAND FL 33810
54 BSC35 800324246 ROBBINS TIMOTHY MARK 272 WEST BRANCH CIRCLE NORTH EAST MD 21901
54 BSC35 800327660 WHIGHAM IRENE 503 PLEASANTVIEW DR LANCASTER NY 14086
54 BSC35 800328023 STEUERWALD SUSAN H 1545 BURDEN LAKE ROAD SAND LAKE NY 12018
54 BSC35 800330292 PEREA NUBIA 207 05 48TH AVENUE BAYSIDE NY 11364
54 BSC35 800331035 DE LONES THOMAS W. 406 SHAMROCK DRIVE BRANDON FL 33511
54 BSC35 800331522 GREEMAN-FIGU SALOME H. 247 SKY HIGH TERRACE EFFORT PA 18330
54 BSC35 800332785 BAKER DENISE L 2421 ROSENDALE ROAD NISKAYUNA NY 12309
54 BSC35 800333973 STONE MARIAN 605 WEDGEWOOD DRIVE WOODSTOCK GA 30189
54 BSC35 800334773 HANSON KARL D 328 NORTHEAST 11TH STREET CRYSTAL RIVER FL 34428
54 BSC35 800334799 ADAMSON MICHAEL 345 CHURCH LANE AQUEBOGUE NY 11931
54 BSC35 800334906 TOBIN CLARENCE R RD 1 BOX 1260 LOW ROAD POTTSVILLE PA 17901
54 BSC35 800340432 LEWIS RONALD I 4420 SOUTH KENYON ST SEATTLE WA 98118
54 BSC35 800341000 PETERSON GREGORY F 144 MAINE AVENUE FORT MYERS FL 33905
54 BSC35 800341067 MORRIS JEFF 7531 18TH WAY NORTH ST PETERSBURG FL 33702
54 BSC35 800342479 HARRIS MARK D. 810 RIVER HEIGHTS AVENUE TAMPA FL 33603
54 BSC35 800343105 MITCHELL SHERRY R 6049 SHEELIN DRIVE NEW PORT RICHEY FL 34653
54 BSC35 800344392 WACHTER WILLIAM 67 CARR LANE MEDFORD NY 11763
54 BSC35 800344939 MARSH THOMAS E. 4022 OLD JULIAN ROAD JULIAN NC 27283
54 BSC35 800345001 BAKER MICHAEL J. 13609 PUB PLACE TAMPA FL 33624
54 BSC35 800345100 SINGH DAHANPAUL 285 NICHOLS AVENUE BROOKLYN NY 11208
54 BSC35 800345167 MOCK WILLIAM E 4615 AEGEAN AVENUE HOLIDAY FL 34690
54 BSC35 800345993 MORGAN JAMES 2 FULTON ROAD FORT MONTGOMERY NY 10922
54 BSC35 800346652 BRYAN DONALD F RD 6 BOX 136 ALTOONA PA 16601
54 BSC35 800349631 BARTLEY CATHERINE L 136 LIGONIER STREET NEW FLORENCE PA 15944
54 BSC35 800349706 RICHARDS CLYDE L 54 S RACE STREET GREENVILLE PA 16125
54 BSC35 800351579 LEONTIS MARY ANN 947 STEWART PLACE FRANKLIN SQUARE NY 11010
54 BSC35 800353492 WILLIAMS LEWIS 1001 28TH STREET NORTH ST PETERSBURG FL 33713
54 BSC35 800354904 BURGO KEITH M 87 TORKUM DRIVE NEW BRITAIN CT 06052
54 BSC35 800355091 DASKAM VERONICA 1903 VALLEY ROAD EFFORT PA 18330
54 BSC35 800358301 AZIZY SHAKIRA 206-24 45TH DRIVE BAYSIDE NY 11373
54 BSC35 800359267 ROWE JENNIFER 1246 S HARMONY STREET PHILADELPHIA PA 19146
54 BSC35 800359614 GOODING CARLOS 730 ROSEDALE AVENUE BRONX NY 10473
54 BSC35 800361271 PERZ ALOIS 1069 POTOMAC STREET ALBRIGHTVILLE PA 11706
54 BSC35 800362451 LITTS BRIGITTE D 1768 OVERBROOK AVE CLEARWATER FL 34615
54 BSC35 800362709 STYLES, ROBERT F. 525 CLIFFORD AVENUE FAYETTEVILLE NC 28314
54 BSC35 800363210 SLAUGHTER GRACE M 1931 E HUNTINGDON STREET PHILADELPHIA PA 19125
54 BSC35 800363921 BROWN RICHARD S 1907 POINT BREEZE AVENUE PHILADELPHIA PA 19146
54 BSC35 800365348 ACOSTA FRANK 5925 B STREET PHILADELPHIA PA 19144
54 BSC35 800365439 PROCH GEORGE E 1402 MONTFORT DRIVE HARRISBURG PA 17110
54 BSC35 800365785 MCKENZIE BRADLEY 2771 GOBBLER LANE FAYETTEVILLE NC 28301
<CAPTION>
Principal Cut-off Date First
Balance at Principal Payment Maturity Rem Date
Pool ID Sale ID Account Origination Balance Date Date Term Due
- ----------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C>
54 BSC35 800225385 42,300.00 42,161.95 07/25/97 06/25/12 174.77 01/31/00
54 BSC35 800228942 64,600.00 64,315.34 08/02/97 07/02/27 355.00 01/31/00
54 BSC35 800251019 18,000.00 17,994.38 08/01/97 07/01/17 235.00 01/31/00
54 BSC35 800254393 23,800.00 23,781.20 08/01/97 07/01/27 355.00 01/31/00
54 BSC35 800255382 130,050.00 130,019.23 09/04/97 08/04/12 176.09 01/31/00
54 BSC35 800256851 72,800.00 72,800.00 10/01/97 09/01/12 177.00 01/31/00
54 BSC35 800262123 74,750.00 74,728.84 08/25/97 07/25/27 355.76 01/31/00
54 BSC35 800266561 161,500.00 160,174.98 08/18/97 07/18/27 355.53 01/31/00
54 BSC35 800272049 82,000.00 82,000.00 11/06/97 10/06/12 178.16 01/31/00
54 BSC35 800275414 89,250.00 89,250.00 09/01/97 08/01/27 356.00 01/31/00
54 BSC35 800278368 157,500.00 157,454.94 08/10/97 07/10/27 355.27 01/31/00
54 BSC35 800285173 109,800.00 109,769.55 09/06/97 08/06/12 176.15 01/31/00
54 BSC35 800297293 65,000.00 65,000.00 10/12/97 09/12/27 357.37 01/31/00
54 BSC35 800300121 64,600.00 64,549.00 10/25/97 09/25/12 177.80 01/31/00
54 BSC35 800304677 31,200.00 31,188.12 09/27/97 08/27/12 176.84 01/31/00
54 BSC35 800304743 49,400.00 49,400.00 11/01/97 10/01/12 178.00 01/31/00
54 BSC35 800311474 45,000.00 45,000.00 11/01/97 10/01/12 178.00 01/31/00
54 BSC35 800311961 62,910.00 62,910.00 10/03/97 09/03/12 177.07 01/31/00
54 BSC35 800313405 102,600.00 102,529.80 10/01/97 09/01/27 357.00 01/31/00
54 BSC35 800317562 116,800.00 116,606.81 10/22/97 09/22/12 177.70 01/31/00
54 BSC35 800321580 38,500.00 38,428.22 09/18/97 08/18/12 176.55 01/31/00
54 BSC35 800323917 52,800.00 52,297.45 09/27/97 08/27/27 356.84 01/31/00
54 BSC35 800324246 172,000.00 171,943.18 08/11/97 07/11/12 175.30 01/31/00
54 BSC35 800327660 107,000.00 107,000.00 11/01/97 10/01/27 358.00 01/31/00
54 BSC35 800328023 57,800.00 57,800.00 11/01/97 10/01/27 358.00 01/31/00
54 BSC35 800330292 102,000.00 102,000.00 11/01/97 10/01/27 358.00 01/31/00
54 BSC35 800331035 46,750.00 46,633.61 10/12/97 09/12/12 177.37 01/31/00
54 BSC35 800331522 210,000.00 210,000.00 11/06/97 10/06/27 358.16 01/31/00
54 BSC35 800332785 110,400.00 110,400.00 11/06/97 10/06/12 178.16 01/31/00
54 BSC35 800333973 126,650.00 126,650.00 09/27/97 08/27/12 176.84 01/31/00
54 BSC35 800334773 29,750.00 29,634.34 10/22/97 09/22/12 177.70 01/31/00
54 BSC35 800334799 127,500.00 127,220.66 10/17/97 09/17/27 357.53 01/31/00
54 BSC35 800334906 63,000.00 63,000.00 11/07/97 10/07/12 178.19 01/31/00
54 BSC35 800340432 88,000.00 88,000.00 11/01/97 10/01/27 358.00 01/31/00
54 BSC35 800341000 56,800.00 56,800.00 10/09/97 09/09/12 177.27 01/31/00
54 BSC35 800341067 72,800.00 72,800.00 11/07/97 10/07/27 358.19 01/31/00
54 BSC35 800342479 82,800.00 82,784.25 11/17/97 10/17/12 178.52 01/31/00
54 BSC35 800343105 24,450.00 24,147.22 10/05/97 09/05/12 177.14 01/31/00
54 BSC35 800344392 106,200.00 106,200.00 11/16/97 10/16/12 178.49 01/31/00
54 BSC35 800344939 80,500.00 80,500.00 11/01/97 10/01/17 238.00 01/31/00
54 BSC35 800345001 112,500.00 112,274.15 09/22/97 08/22/12 176.68 01/31/00
54 BSC35 800345100 90,000.00 90,000.00 11/06/97 10/06/12 178.16 01/31/00
54 BSC35 800345167 48,600.00 48,547.44 10/04/97 09/04/27 357.11 01/31/00
54 BSC35 800345993 84,000.00 84,000.00 11/01/97 10/01/12 178.00 01/31/00
54 BSC35 800346652 60,000.00 60,000.00 11/15/97 10/15/17 238.45 01/31/00
54 BSC35 800349631 48,000.00 47,964.52 11/02/97 10/02/27 358.03 01/31/00
54 BSC35 800349706 18,400.00 18,400.00 10/09/97 09/09/12 177.27 01/31/00
54 BSC35 800351579 125,000.00 125,000.00 11/01/97 10/01/12 178.00 01/31/00
54 BSC35 800353492 52,110.00 52,084.56 11/07/97 10/07/12 178.19 01/31/00
54 BSC35 800354904 59,500.00 59,414.82 10/10/97 09/10/12 177.30 01/31/00
54 BSC35 800355091 45,000.00 44,897.11 11/06/97 10/06/27 358.16 01/31/00
54 BSC35 800358301 128,800.00 128,800.00 11/01/97 10/01/27 358.00 01/31/00
54 BSC35 800359267 17,500.00 17,394.52 10/19/97 09/19/07 117.60 01/31/00
54 BSC35 800359614 140,000.00 139,994.89 11/06/97 10/06/12 178.16 01/31/00
54 BSC35 800361271 104,550.00 104,550.00 11/10/97 10/10/12 178.29 01/31/00
54 BSC35 800362451 37,800.00 37,594.18 10/15/97 09/15/17 237.47 01/31/00
54 BSC35 800362709 45,000.00 44,718.12 11/06/97 10/06/12 178.16 01/31/00
54 BSC35 800363210 28,050.00 28,032.83 10/17/97 09/17/12 177.53 01/31/00
54 BSC35 800363921 24,800.00 24,800.00 11/10/97 10/10/27 358.29 01/31/00
54 BSC35 800365348 53,975.00 53,855.91 11/03/97 10/03/27 358.06 01/31/00
54 BSC35 800365439 134,400.00 134,400.00 10/22/97 09/22/12 177.70 01/31/00
54 BSC35 800365785 85,500.00 85,500.00 11/07/97 10/07/27 358.19 01/31/00
<CAPTION>
Original Current Scheduled
LTV Mortgage Payment
Pool ID Sale ID Account Ratio Rate Int & Prin
- ---------------------------------------------------------------
<S> <C> <C> <C> <C> <C>
54 BSC35 800225385 90.0 11.600 422.12
54 BSC35 800228942 85.0 12.000 664.48
54 BSC35 800251019 40.0 12.050 198.82
54 BSC35 800254393 70.0 10.550 218.60
54 BSC35 800255382 85.0 12.850 1,423.38
54 BSC35 800256851 80.0 10.750 679.57
54 BSC35 800262123 63.3 12.050 771.77
54 BSC35 800266561 85.0 12.250 1,692.35
54 BSC35 800272049 80.0 11.990 842.83
54 BSC35 800275414 85.0 11.750 900.90
54 BSC35 800278368 90.0 12.000 1,620.06
54 BSC35 800285173 90.0 12.100 1,137.88
54 BSC35 800297293 57.4 11.900 663.60
54 BSC35 800300121 85.0 10.850 607.89
54 BSC35 800304677 80.0 13.100 347.57
54 BSC35 800304743 80.9 12.700 534.90
54 BSC35 800311474 56.2 9.750 476.71
54 BSC35 800311961 90.0 11.150 606.25
54 BSC35 800313405 90.0 10.900 969.34
54 BSC35 800317562 80.0 10.200 1,042.31
54 BSC35 800321580 66.3 11.300 375.40
54 BSC35 800323917 80.0 9.750 453.63
54 BSC35 800324246 80.0 11.350 1,683.65
54 BSC35 800327660 84.2 10.450 974.77
54 BSC35 800328023 85.0 12.250 605.68
54 BSC35 800330292 85.0 12.900 1,120.36
54 BSC35 800331035 85.0 10.500 427.64
54 BSC35 800331522 75.0 9.850 1,819.67
54 BSC35 800332785 80.0 13.350 1,251.52
54 BSC35 800333973 85.0 10.900 1,196.56
54 BSC35 800334773 85.0 10.700 332.55
54 BSC35 800334799 85.0 12.900 1,400.45
54 BSC35 800334906 90.0 11.150 607.11
54 BSC35 800340432 51.7 11.950 901.79
54 BSC35 800341000 80.0 11.850 577.70
54 BSC35 800341067 80.0 10.000 638.87
54 BSC35 800342479 90.0 10.900 782.27
54 BSC35 800343105 75.0 9.400 253.84
54 BSC35 800344392 90.0 11.150 1,023.42
54 BSC35 800344939 70.0 9.350 742.50
54 BSC35 800345001 75.0 9.750 966.55
54 BSC35 800345100 90.0 11.150 867.31
54 BSC35 800345167 90.0 11.400 477.58
54 BSC35 800345993 76.3 11.100 806.31
54 BSC35 800346652 73.1 10.600 603.06
54 BSC35 800349631 80.0 12.600 516.01
54 BSC35 800349706 80.0 12.650 228.58
54 BSC35 800351579 49.0 10.450 1,138.75
54 BSC35 800353492 90.0 11.150 502.17
54 BSC35 800354904 85.0 12.650 641.95
54 BSC35 800355091 76.9 10.050 396.57
54 BSC35 800358301 80.0 13.300 1,455.05
54 BSC35 800359267 70.0 13.000 261.30
54 BSC35 800359614 84.3 9.800 1,207.96
54 BSC35 800361271 85.0 11.900 1,067.37
54 BSC35 800362451 90.0 12.100 418.85
54 BSC35 800362709 84.9 9.750 476.71
54 BSC35 800363210 85.0 12.350 296.10
54 BSC35 800363921 80.0 11.000 236.18
54 BSC35 800365348 85.6 11.900 551.04
54 BSC35 800365439 80.0 12.500 1,434.39
54 BSC35 800365785 90.0 10.650 791.71
</TABLE>
<PAGE>
<TABLE>
ALLIANCE FUNDING Sale Schedule - Group 1, Sub-Pool I
A division of Superior Bank FSB 1997-4 Class 1 - Initial of Fixed Rate Mortgages - Settlement 12/22/97
Page 2 12/18/97
<CAPTION>
Zip
Pool ID Sale ID Account Name Address City State Code
- ----------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C>
54 BSC35 800367674 CIVITTS JOHN R 342 LONG ROAD PITTSBURGH PA 15235
54 BSC35 800368383 BERUBE ROY A 59 NORFOLK LANE HOLLISTON MA 01746
54 BSC35 800369399 GASKIN EDWARD L 13632 22ND STREET DADE CITY FL 33525
54 BSC35 800372377 OUTLAW JERRY 110 NORTH CAROLINA STREET GOLDSBORO NC 27530
54 BSC35 800374761 ZORZI JOHN D 2620 SADLER LANE MELBOURNE FL 32935
54 BSC35 800375198 PADGETT ANNA M 478 MAXIM DRIVE HOPATCONG NJ 07843
54 BSC35 800375248 SMALL JANE 3 CELIA TERRACE RANDOLPH MA 02368
54 BSC35 800375735 HOLGUIN RAYMOND E 301 NEW STREET CENTRAL NM 88026
54 BSC35 800376279 SMITH MARY 6686 TREEHAVEN DRIVE SPRING HILL FL 34606
54 BSC35 800376873 HERTER KRISTOPHER M 221 W BROOKDALE STREET ALLENTOWN PA 18103
54 BSC35 800377731 MILLS CHERYL 1250 BAILEY STREET HARRISBURG PA 17103
54 BSC35 800380040 DAVIES ANNE M 6939 PINEHURST DRIVE SPRING HILL FL 34606
54 BSC35 800380768 EMELIN JOHN A 500 HATHAWAY STREET FAIRPLAY CO 80440
54 BSC35 800380891 KENNEDY RICHARD L 212 CLIFF ROAD BADEN PA 15005
54 BSC35 800382061 GATEWOOD CONNIE 6420 PERSHING STREET NE ST PETERSBURG FL 33702
54 BSC35 800382095 CRUZ CECILIA 18553 TULIP ROAD FORT MYERS FL 33912
54 BSC35 800382103 JARRETT GLENN H 34400 BELT DRIVE DADE CITY FL 33523
54 BSC35 800382970 MEAGLEY ANDY E RR 3 BOX 148 SUSQUEHANNA PA 18847
54 BSC35 800384661 KHATRY ABINAYA 3 MISTY GLEN COURT LONGVIEW TX 75604
54 BSC35 800384711 BECK CARMELA 233 NORTHWEST 6TH PLACE CAPE CORAL FL 33993
54 BSC35 800385783 ASHER WINSTON L 118 DONNA ROAD NORTHEAST PALM BAY FL 32907
54 BSC35 800387615 MIHALSON ANDREW 203 STAMBAUGH AVENUE SHARON PA 16146
54 BSC35 800388845 SLAFMAN DAVID 525 E WYOMING AVE PHILADELPHIA PA 19120
54 BSC35 800392292 KRISTENSEN VERONICA E. 3035 7TH AVENUE NORTH ST PETERSBURG FL 33713
54 BSC35 800393456 CURL BARBARA B 887 SAM FREEMAN ROAD HOSCHTON GA 30548
54 BSC35 800395485 STANLEY CISLYN 3944 8TH STREET SOUTH ST PETERSBURG FL 33705
54 BSC35 800397333 KLINGENSMITH GARY L 417 RUSSELL STREET SHARON PA 16146
54 BSC35 800399404 MYCOFF PAULA A 2514 MONTEGO DRIVE SE FT MYERS FL 33905
54 BSC35 800401614 HARGROVE LARRY 712 EAST WALNUT STREET GOLDSBORO NC 27530
54 BSC35 800402778 BALGOBIN RAMESH 593 FREEMAN AVENUE BRENTWOOD NY 11717
54 BSC35 800404204 RUGGERI SUSAN J 104 WHITMORE AVE JOHNSTOWN NY 12095
54 BSC35 800406043 CARR TONI E 950 SOUTH UNIVERSITY DENVER CO 80209
54 BSC35 800406332 BOUTOT MARIE S 2 PAULA DRIVE WOLCOTT CT 06716
54 BSC35 800406688 LOUIS ANOUAL 106 DELAWARE ROAD LEHIGH ACRES FL 33936
54 BSC35 800408734 FORD LINNIE G 57 WEST 27TH STREET JACKSONVILLE FL 32206
54 BSC35 800416752 SHERROUSE DENVER H 13970 OLD DADE CITY ROAD KATHLEEN FL 33849
54 BSC35 800418063 BENNITT JAN S 2829 ROSCOMMON DRIVE TALLAHASSEE FL 32308
54 SB100 661524066 MCPHERSON HARRIETTE 2248 E 98TH STREET CHICAGO IL 60617
54 SB100 661554816 WILSON DANIEL S 8159 TUMEY DETROIT MI 48234
54 SB100 661561688 BOYD DAVID E 216 MOUND STREET TIPTON IN 46072
54 SB100 661571026 WEIGLE GLENN CLARENCE 15807 HARVARD AVENUE CLEVELAND OH 44128
54 SB100 661573022 HOAG WILLIAM M 222 POLSTER EVANSVILLE IN 47714
54 SB100 661573089 OFF REX A 4432 BERTRAND ROAD INDIANAPOLIS IN 46222
54 SB100 661580415 FUCHS ROBERT J JR 115 N GRAND LIVINGSTON WI 53554
54 SB100 661580530 TERRY TOSCIA V 16425 PLYMOUTH MARKHAM IL 60426
54 SB100 661582130 MCKINNEY RONNIE L 111 N FRONT STREET THORNTOWN IN 46071
54 SB100 661582650 JOHNSON SHIRLEY L 7060 GOLDSMITH COURT COLORADO SPRINGS CO 80911
54 SB100 661582692 TREFIL BONNIE G 237 SOUTH BODIN STREET HINSDALE IL 60521
54 SB100 661584599 DUNCAN TERESA 341 COUNTY ROAD 265 NIOTA TN 37826
54 SB100 661585406 MOORE HAROLD SCOTT 12866 COYLE DETROIT MI 48227
54 SB100 661585414 HOLLIS DARYL L 29811 MATTHEWS WESTLAND MI 48186
54 SB100 661587121 SMITH RAYMOND G 12950 PAYTON DETROIT MI 48224
54 SB100 661587931 EZELL JEFFREY 816 BEMENT LANSING MI 48912
54 SB100 661591958 DELACEY ROBERT J 17 MEADOW LANE PROPHETSTOWN IL 61277
54 SB100 661592345 LINEHAN RUSS W 2306 REFORMERS AVENUE INDIANAPOLIS IN 46203
54 SB98 661523589 MILLER ROBERT W 5503 NORTH 72ND AVENUE GLENDALE AZ 85303
54 SB98 661535955 BEERWART GUS F 1359 SOUTH 14TH STREET NEW CASTLE IN 47362
54 SB98 661536334 BRADLEY HATTIE L 107 4TH AVENUE JOLIET IL 60433
54 SB98 661536854 LIUZZO NINO 38514 BEACHVIEW WILLOUGHBY HILLS OH 44094
54 SB98 661536946 SPURLOCK CONNIE 30803 PLUM LANE DRIVE MADISON HEIGHTS MI 48071
54 SB98 661537696 PHIELER GARY 725 E MORRIS INDIANAPOLIS IN 46203
54 SB98 661538843 RODGERS KELLY BARKER 1318 CONGRESS AVENUE INDIANAPOLIS IN 46208
<CAPTION>
Principal Cut-off Date First
Balance at Principal Payment Maturity Rem Date
Pool ID Sale ID Account Origination Balance Date Date Term Due
- ----------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C>
54 BSC35 800367674 79,200.00 79,200.00 11/06/97 10/06/17 238.16 01/31/00
54 BSC35 800368383 187,300.00 187,300.00 11/01/97 10/01/12 178.00 01/31/00
54 BSC35 800369399 37,600.00 37,520.85 10/17/97 09/17/17 237.53 01/31/00
54 BSC35 800372377 62,400.00 61,593.07 11/03/97 10/03/12 178.06 01/31/00
54 BSC35 800374761 10,000.00 9,877.67 11/14/97 10/14/12 178.42 01/31/00
54 BSC35 800375198 78,800.00 78,736.58 11/20/97 10/20/27 358.62 01/31/00
54 BSC35 800375248 122,000.00 122,000.00 11/01/97 10/01/12 178.00 01/31/00
54 BSC35 800375735 56,250.00 56,250.00 11/01/97 10/01/17 238.00 01/31/00
54 BSC35 800376279 48,800.00 48,788.16 11/01/97 10/01/27 358.00 01/31/00
54 BSC35 800376873 99,000.00 99,000.00 11/06/97 10/06/27 358.16 01/31/00
54 BSC35 800377731 41,600.00 41,600.00 11/06/97 10/06/12 178.16 01/31/00
54 BSC35 800380040 55,250.00 55,250.00 11/14/97 10/14/27 358.42 01/31/00
54 BSC35 800380768 150,450.00 150,122.16 12/01/97 11/01/17 239.00 01/31/00
54 BSC35 800380891 63,000.00 63,000.00 11/16/97 10/16/27 358.49 01/31/00
54 BSC35 800382061 55,200.00 55,200.00 11/10/97 10/10/27 358.29 01/31/00
54 BSC35 800382095 82,000.00 81,964.10 11/21/97 10/21/17 238.65 01/31/00
54 BSC35 800382103 64,000.00 63,670.87 11/08/97 10/08/27 358.22 01/31/00
54 BSC35 800382970 45,000.00 44,975.66 11/06/97 10/06/27 358.16 01/31/00
54 BSC35 800384661 121,550.00 121,550.00 11/01/97 10/01/27 358.00 01/31/00
54 BSC35 800384711 48,500.00 48,394.61 11/14/97 10/14/27 358.42 01/31/00
54 BSC35 800385783 94,350.00 94,033.92 11/07/97 10/07/12 178.19 01/31/00
54 BSC35 800387615 10,320.00 10,258.39 11/03/97 10/03/12 178.06 01/31/00
54 BSC35 800388845 22,000.00 22,000.00 11/16/97 10/16/27 358.49 01/31/00
54 BSC35 800392292 48,000.00 47,929.81 11/08/97 10/08/12 178.22 01/31/00
54 BSC35 800393456 71,000.00 71,000.00 11/17/97 10/17/12 178.52 01/31/00
54 BSC35 800395485 40,000.00 39,887.96 11/09/97 10/09/17 238.26 01/31/00
54 BSC35 800397333 20,700.00 20,640.94 11/10/97 10/10/12 178.29 01/31/00
54 BSC35 800399404 53,600.00 53,432.95 11/15/97 10/15/12 178.45 01/31/00
54 BSC35 800401614 47,200.00 47,200.00 11/06/97 10/06/27 358.16 01/31/00
54 BSC35 800402778 99,000.00 99,000.00 11/09/97 10/09/12 178.26 01/31/00
54 BSC35 800404204 68,000.00 68,000.00 11/22/97 10/22/12 178.68 01/31/00
54 BSC35 800406043 25,000.00 25,000.00 12/01/97 11/01/27 359.00 01/31/00
54 BSC35 800406332 35,700.00 35,591.87 11/17/97 10/17/12 178.52 01/31/00
54 BSC35 800406688 18,000.00 17,900.78 11/15/97 10/15/07 118.45 01/31/00
54 BSC35 800408734 14,000.00 13,960.81 11/20/97 10/20/07 118.62 01/31/00
54 BSC35 800416752 108,000.00 107,878.95 11/20/97 10/20/27 358.62 01/31/00
54 BSC35 800418063 144,000.00 144,000.00 11/20/97 10/20/27 358.62 01/31/00
54 SB100 661524066 26,000.00 25,822.96 09/28/97 08/28/12 176.88 01/31/00
54 SB100 661554816 25,600.00 25,600.00 11/22/97 10/22/27 358.68 01/31/00
54 SB100 661561688 64,800.00 64,800.00 12/03/97 11/03/27 359.08 01/31/00
54 SB100 661571026 27,500.00 27,500.00 11/24/97 10/28/12 178.75 01/31/00
54 SB100 661573022 54,500.00 54,500.00 11/15/97 10/15/12 178.45 01/31/00
54 SB100 661573089 36,000.00 36,000.00 12/01/97 11/01/27 359.00 01/31/00
54 SB100 661580415 46,800.00 46,800.00 12/01/97 11/01/27 359.00 01/31/00
54 SB100 661580530 54,000.00 54,000.00 12/13/97 11/13/27 359.41 01/31/00
54 SB100 661582130 105,000.00 105,000.00 12/24/97 11/24/12 179.77 01/31/00
54 SB100 661582650 121,500.00 121,368.68 11/28/97 10/28/27 358.88 01/31/00
54 SB100 661582692 76,500.00 76,334.57 12/01/97 11/01/17 239.00 01/31/00
54 SB100 661584599 39,000.00 39,000.00 12/19/97 11/19/27 359.61 01/31/00
54 SB100 661585406 19,500.00 19,500.00 12/11/97 11/11/27 359.34 01/31/00
54 SB100 661585414 56,000.00 56,000.00 12/17/97 11/17/27 359.54 01/31/00
54 SB100 661587121 48,800.00 48,800.00 12/13/97 11/13/27 359.41 01/31/00
54 SB100 661587931 20,200.00 20,200.00 01/01/98 12/01/12 180.00 01/31/00
54 SB100 661591958 65,400.00 65,400.00 12/18/97 11/18/27 359.57 01/31/00
54 SB100 661592345 30,000.00 30,000.00 12/17/97 11/17/27 359.54 01/31/00
54 SB98 661523589 75,600.00 75,199.88 08/22/97 07/22/27 355.66 01/31/00
54 SB98 661535955 42,000.00 42,000.00 11/07/97 10/07/27 358.19 01/31/00
54 SB98 661536334 38,500.00 38,500.00 11/01/97 10/01/12 178.00 01/31/00
54 SB98 661536854 58,800.00 58,730.98 10/11/97 09/11/12 177.34 01/31/00
54 SB98 661536946 74,600.00 74,600.00 11/01/97 10/01/27 358.00 01/31/00
54 SB98 661537696 43,400.00 43,400.00 11/09/97 10/09/27 358.26 01/31/00
54 SB98 661538843 25,000.00 24,999.48 11/13/97 10/13/12 178.39 01/31/00
<CAPTION>
Original Current Scheduled
LTV Mortgage Payment
Pool ID Sale ID Account Ratio Rate Int & Prin
- ---------------------------------------------------------------
<S> <C> <C> <C> <C> <C>
54 BSC35 800367674 90.0 10.900 812.11
54 BSC35 800368383 69.6 9.500 1,574.92
54 BSC35 800369399 80.0 12.800 435.17
54 BSC35 800372377 80.0 12.500 665.97
54 BSC35 800374761 14.2 10.500 110.54
54 BSC35 800375198 87.5 10.500 720.81
54 BSC35 800375248 84.1 10.050 1,075.15
54 BSC35 800375735 75.0 11.750 609.59
54 BSC35 800376279 80.0 10.250 437.30
54 BSC35 800376873 90.0 11.300 965.31
54 BSC35 800377731 80.0 10.050 448.31
54 BSC35 800380040 85.0 11.750 557.70
54 BSC35 800380768 85.0 11.100 1,563.18
54 BSC35 800380891 73.2 10.300 566.89
54 BSC35 800382061 80.0 13.500 632.27
54 BSC35 800382095 84.9 9.650 772.40
54 BSC35 800382103 80.0 11.990 657.82
54 BSC35 800382970 39.3 10.400 408.27
54 BSC35 800384661 85.0 11.850 1,236.26
54 BSC35 800384711 60.6 9.650 413.13
54 BSC35 800385783 85.0 9.990 1,013.31
54 BSC35 800387615 80.0 10.650 115.04
54 BSC35 800388845 47.8 11.000 209.51
54 BSC35 800392292 51.6 10.850 541.05
54 BSC35 800393456 64.5 10.500 649.46
54 BSC35 800395485 55.5 9.990 385.74
54 BSC35 800397333 90.0 11.550 242.47
54 BSC35 800399404 80.0 9.800 569.45
54 BSC35 800401614 80.0 13.500 540.63
54 BSC35 800402778 90.0 11.050 946.54
54 BSC35 800404204 80.0 9.550 574.26
54 BSC35 800406043 19.2 11.100 239.97
54 BSC35 800406332 39.6 10.300 390.21
54 BSC35 800406688 24.0 10.150 239.37
54 BSC35 800408734 28.0 10.750 190.87
54 BSC35 800416752 86.4 9.500 908.12
54 BSC35 800418063 80.0 11.000 1,371.34
54 SB100 661524066 52.5 9.600 273.07
54 SB100 661554816 69.7 10.850 240.90
54 SB100 661561688 90.0 11.300 631.84
54 SB100 661571026 53.9 13.240 352.30
54 SB100 661573022 69.8 10.250 488.38
54 SB100 661573089 80.0 12.750 391.21
54 SB100 661580415 90.0 10.820 439.33
54 SB100 661580530 90.0 11.300 526.53
54 SB100 661582130 84.0 11.750 1,059.88
54 SB100 661582650 90.0 11.550 1,207.84
54 SB100 661582692 48.4 11.400 810.55
54 SB100 661584599 60.0 11.500 386.21
54 SB100 661585406 69.6 9.500 163.97
54 SB100 661585414 80.0 10.050 493.51
54 SB100 661587121 84.8 12.100 505.72
54 SB100 661587931 74.8 12.050 208.56
54 SB100 661591958 84.9 12.250 685.32
54 SB100 661592345 60.0 10.850 282.30
54 SB98 661523589 90.0 12.100 783.46
54 SB98 661535955 70.0 10.050 370.13
54 SB98 661536334 70.0 12.000 462.06
54 SB98 661536854 70.0 9.650 500.87
54 SB98 661536946 74.6 12.250 781.73
54 SB98 661537696 70.0 10.500 397.00
54 SB98 661538843 71.4 13.000 276.55
</TABLE>
<PAGE>
<TABLE>
ALLIANCE FUNDING Sale Schedule - Group 1, Sub-Pool I
A division of Superior Bank FSB 1997-4 Class 1 - Initial of Fixed Rate Mortgages - Settlement 12/22/97
Page 3 12/18/97
<CAPTION>
Zip
Pool ID Sale ID Account Name Address City State Code
- ----------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C>
54 SB98 661539080 GARMON IRENE 7738 S CLYDE CHICAGO IL 60649
54 SB98 661547513 GARRISON TERESA A 6002 BOWER AVENUE CLEVELAND OH 44127
54 SB98 661551044 BOLLING JOHN H 8438 ELGIN DETROIT MI 48234
54 SB98 661555367 MCFARLAND FRANK W 213 SOUTH ROESKE MICHIGAN CITY IN 46360
54 SB98 661556605 AUGSBURGER KEVIN D 4118 HARTMAN INDIANAPOLIS IN 46226
54 SB98 661557066 CUCURO JAMES L 49185 ROMEO PLANK MACOMB TOWNSHIP MI 48044
54 SB98 661558353 TELLEZ JOHN C 1913 SOUTH MAIN STREET ROCKFORD IL 61102
54 SB98 661559765 HORACE RAYMOND 8843 S PAXTON AVE CHICAGO IL 60617
54 SB98 661563270 JACKSON DONALD 4013 NORTH SHERIDAN INDIANAPOLIS IN 46226
54 SB98 661563494 JONES KEITHER JANINE 20525 RUTHERFORD DETROIT MI 48235
54 SB98 661563908 THORN STEVEN P 8685 PRICE ROAD RAVENNA OH 44266
54 SB98 661564005 COTTRELL MICHAEL A 128 WEST 8TH STREET UHRICHSVILLE OH 44683
54 SB98 661564187 LOCKNEY EUGENE E JR 1650 6TH STREET SW WARREN OH 44485
54 SB98 661565333 FERNANDEZ STEVEN 2230 KERRWOOD DRIVE CLEVELAND HEIGHTS OH 44118
54 SB98 661565549 RINGO BERNICE L 15429 VAUGHN DETROIT MI 48223
54 SB98 661565564 TRAVIS EVONDRA 39 ROSELAWN PONTIAC MI 48341
54 SB98 661565978 OBERLIN PAMELA J 1111 SMITH AVENUE SW CANTON OH 44706
54 SB98 661567735 LIUZZO NINO 1928 WEST 75TH STREET CLEVELAND OH 44102
54 SB98 661570945 HASS JUNE E 3733 SOUTH KENILWORTH AVE BERWYN IL 60402
54 SB98 661571091 OLSON MARY E 9853 SOUTH AVENUE H CHICAGO IL 60617
54 SB98 661571257 WYMAN STACEY 5950 OSBORNE RD DELTON MI 49046
54 SB98 661572099 SPEARS JACK 2352 HOYT AVENUE INDIANAPOLIS IN 46203
54 SB98 661573667 PORRAZZO MICHAEL A 22705 ALLIANCE SEBRING ROA ALLIANCE OH 44601
54 SB98 661573758 FANSLOW CHARLES L 1231 CHAPPEL VALLEY ROAD GLADWIN MI 48624
54 SB98 661574541 SIROIN ROSEMARY M 10849 SOUTH MAPLEWOOD CHICAGO IL 60655
54 SB98 661574566 MCSEARS RICHARD F 13413 CAINE AVENUE CLEVELAND OH 44105
54 SB98 661574715 HARRIS MICHAEL 313 EAST WATER STREET JEWETT OH 43986
54 SB98 661574814 DREYER JOSEPH 16401 PAXTON AVENUE TINLEY PARK IL 60477
54 SB98 661574947 WHITNEY DONALD J 2112 SCOTTWOOD BURTON MI 48529
54 SB98 661578690 SHERMAN LINNELL H 4045 LESLIE DETROIT MI 48238
54 SB98 661580381 TYLER MACK ANTHONY 9049 SOUTH CARPENTER CHICAGO IL 60620
54 SB98 661580449 STRICKLAND DAVID A 2150 219TH PLACE SAUK VILLAGE IL 60411
54 SB98 661581017 KENNEDY EVETTE 16290 GLENBURN AVENUE MAPLE HEIGHTS OH 44137
54 SB98 661581801 HALASZ WILLIAM G 7886 STATE ROUTE 44 RAVENNA OH 44266
54 SB98 661582072 AVANT JIMMY LEE 105 CORINNE GRAND RAPIDS MI 49507
54 SB98 661584433 NORMAN IDA 1830 SOUTH 20TH AVENUE MAYWOOD IL 60153
54 SB98 661585224 CUSHMAN DONALD II 233 HAMILTON STREET FORTVILLE IN 46040
54 SB98 661585331 LOCKHART ERICKA 938 EMILY SAGINAW MI 48601
54 SBC101 800211229 MCMULLEN CYNTHIA L 6813 OLEAN ROAD SOUTH WALES NY 14139
54 SBC101 800247637 DAWKINS MABEL 309 AVENUE C BROOKLYN NY 11218
54 SBC101 800274706 KEARNEY JOHN 82 WYOMING STREET WILKES BARRE PA 18702
54 SBC101 800288409 TATTA ROBERT L 1633 ASHTON AVENUE SHARPSVILLE PA 16150
54 SBC101 800315798 DAVIS EVELL 1934 23RD STREET SOUTH ST PETERSBURG FL 33712
54 SBC101 800336810 DEAL SHIRLEY J 1005 NORTHWEST 68TH PLACE OCALA FL 34475
54 SBC101 800346496 TUST ROBERT 3310 COWHAND DRIVE COLORADO SPRINGS CO 80922
54 SBC101 800348856 MCNAMARA MICHAEL P 487 PENNYSLVANIA AVENUE YORK PA 17404
54 SBC101 800352320 ROBINSON MATTIE M 1916 10TH STREET SOUTH ST PETERSBURG FL 33712
54 SBC101 800364747 CLARKE RACQUEL 88-44 FRANCIS LEWIS BLVD QUEENS VILLAGE NY 11427
54 SBC101 800370538 SCHNECK DARLENE L 1124 TREMONT CIRCLE WHITEHALL PA 18052
54 SBC101 800375164 MCKITTRICK MARK A 1134 RUBY STREET LAKELAND FL 33815
54 SBC101 800376063 SIMPSON CORRINE Y 513 SOUTH NINTH AVENUE MOUNT VERNON NY 10550
54 SBC101 800382822 MISA IOSEFO T 773 NORTH EMILY CIRCLE SALT LAKE CITY UT 84116
54 SBC101 800382889 ZANETTI THOMAS J RD 6 BOX 85 KITTANNING PA 16201
54 SBC101 800384919 WILKINSON JAY SHERMAN 1606 CENTAUR CIRCLE LAFAYETTE CO 80026
54 SBC101 800385866 COCCIMIGLIO DONALD A JR 830 MAPLE AVENUE ARDSLEY PA 19038
54 SBC101 800389496 LANGLEY VALENTINA 1480 NORTHWEST 112TH WAY PEMBROKE PINES FL 33026
54 SBC101 800391948 MOORE ALTA 102 INGHAM AVENUE EGG HARBOR NJ 08234
54 SBC101 800392789 ARCHULETA GILBERT J 1108 MARTIN DRIVE COLORADO SPRINGS CO 80915
54 SBC101 800393449 TOMINOVIC FRANKO 19 FAIRLAWN COURT SHIRLEY NY 11967
54 SBC101 800396020 REED VIRGINIA 2640 ROUTE 9W SAUGERTIES NY 12477
54 SBC101 800397473 SAMUELA CASILDA 46 NORFELD BOULEVARD ELMONT NY 11003
54 SBC101 800398182 PRICE JERE T SR 4555 1ST AVENUE NORTH ST PETERSBURG FL 33713
<CAPTION>
Principal Cut-off Date First
Balance at Principal Payment Maturity Rem Date
Pool ID Sale ID Account Origination Balance Date Date Term Due
- ----------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C>
54 SB98 661539080 46,000.00 45,841.59 10/26/97 09/26/27 357.83 01/31/00
54 SB98 661547513 40,000.00 39,899.48 11/21/97 10/21/27 358.65 01/31/00
54 SB98 661551044 16,500.00 16,458.71 10/23/97 09/23/27 357.73 01/31/00
54 SB98 661555367 56,200.00 55,646.25 11/16/97 10/16/12 178.49 01/31/00
54 SB98 661556605 32,900.00 32,900.00 11/03/97 10/03/12 178.06 01/31/00
54 SB98 661557066 110,000.00 110,000.00 10/24/97 09/24/27 357.76 01/31/00
54 SB98 661558353 45,600.00 45,512.86 10/22/97 09/22/12 177.70 01/31/00
54 SB98 661559765 116,000.00 116,000.00 10/23/97 09/23/27 357.73 01/31/00
54 SB98 661563270 53,200.00 53,200.00 12/01/97 11/01/27 359.00 01/31/00
54 SB98 661563494 54,700.00 54,579.73 11/10/97 10/10/17 238.29 01/31/00
54 SB98 661563908 118,700.00 118,700.00 11/15/97 10/15/27 358.45 01/31/00
54 SB98 661564005 25,200.00 25,200.00 11/27/97 10/27/12 178.85 01/31/00
54 SB98 661564187 22,500.00 22,500.00 10/26/97 09/26/12 177.83 01/31/00
54 SB98 661565333 105,200.00 105,045.59 11/01/97 10/01/12 178.00 01/31/00
54 SB98 661565549 59,500.00 59,435.67 12/01/97 11/01/12 179.00 01/31/00
54 SB98 661565564 30,100.00 30,100.00 12/01/97 11/01/12 179.00 01/31/00
54 SB98 661565978 32,200.00 32,200.00 11/15/97 10/15/12 178.45 01/31/00
54 SB98 661567735 38,500.00 38,457.63 11/15/97 10/15/12 178.45 01/31/00
54 SB98 661570945 32,000.00 31,961.21 11/15/97 10/15/17 238.45 01/31/00
54 SB98 661571091 22,500.00 22,338.07 11/20/97 10/20/27 358.62 01/31/00
54 SB98 661571257 154,000.00 154,000.00 12/01/97 11/01/12 179.00 01/31/00
54 SB98 661572099 26,900.00 26,803.12 11/28/97 10/28/12 178.88 01/31/00
54 SB98 661573667 47,600.00 47,548.57 11/07/97 10/07/12 178.19 01/31/00
54 SB98 661573758 56,000.00 56,000.00 12/01/97 11/01/12 179.00 01/31/00
54 SB98 661574541 57,000.00 56,855.68 11/22/97 10/22/17 238.68 01/31/00
54 SB98 661574566 55,200.00 55,200.00 11/27/97 10/27/12 178.85 01/31/00
54 SB98 661574715 47,700.00 47,700.00 11/14/97 10/14/27 358.42 01/31/00
54 SB98 661574814 71,900.00 71,762.60 11/16/97 10/16/27 358.49 01/31/00
54 SB98 661574947 41,600.00 41,597.04 12/01/97 11/01/12 179.00 01/31/00
54 SB98 661578690 40,000.00 40,000.00 12/01/97 11/01/27 359.00 01/31/00
54 SB98 661580381 49,000.00 48,901.45 11/23/97 10/23/17 238.72 01/31/00
54 SB98 661580449 62,900.00 62,900.00 11/27/97 10/27/27 358.85 01/31/00
54 SB98 661581017 57,800.00 57,737.55 11/27/97 10/27/12 178.85 01/31/00
54 SB98 661581801 127,500.00 127,500.00 12/01/97 11/01/27 359.00 01/31/00
54 SB98 661582072 35,750.00 35,750.00 12/01/97 11/01/12 179.00 01/31/00
54 SB98 661584433 77,300.00 77,300.00 12/11/97 11/11/12 179.34 01/31/00
54 SB98 661585224 88,000.00 88,000.00 12/01/97 11/01/12 179.00 01/31/00
54 SB98 661585331 27,000.00 27,000.00 12/01/97 11/01/12 179.00 01/31/00
54 SBC101 800211229 60,000.00 59,757.86 07/20/97 06/20/12 174.61 01/31/00
54 SBC101 800247637 123,750.00 122,375.90 07/16/97 06/16/27 354.48 01/31/00
54 SBC101 800274706 24,050.00 23,970.07 09/14/97 08/14/27 356.42 01/31/00
54 SBC101 800288409 23,400.00 23,345.21 08/25/97 07/25/12 175.76 01/31/00
54 SBC101 800315798 45,000.00 44,680.39 10/03/97 09/03/12 177.07 01/31/00
54 SBC101 800336810 38,400.00 38,379.13 10/02/97 09/02/27 357.04 01/31/00
54 SBC101 800346496 136,000.00 136,000.00 11/01/97 10/01/27 358.00 01/31/00
54 SBC101 800348856 51,300.00 51,291.44 11/20/97 10/20/27 358.62 01/31/00
54 SBC101 800352320 15,000.00 15,000.00 12/03/97 11/03/12 179.08 01/31/00
54 SBC101 800364747 144,000.00 144,000.00 11/27/97 10/27/12 178.85 01/31/00
54 SBC101 800370538 136,000.00 135,808.32 12/01/97 11/01/12 179.00 01/31/00
54 SBC101 800375164 38,250.00 38,204.18 11/21/97 10/21/27 358.65 01/31/00
54 SBC101 800376063 75,900.00 75,900.00 12/07/97 11/07/12 179.21 01/31/00
54 SBC101 800382822 114,000.00 113,367.28 11/07/97 10/07/27 358.19 01/31/00
54 SBC101 800382889 49,750.00 49,750.00 12/10/97 11/10/17 239.31 01/31/00
54 SBC101 800384919 138,550.00 138,550.00 12/01/97 11/01/27 359.00 01/31/00
54 SBC101 800385866 67,500.00 67,500.00 11/24/97 10/24/12 178.75 01/31/00
54 SBC101 800389496 72,000.00 71,999.88 11/20/97 10/20/27 358.62 01/31/00
54 SBC101 800391948 35,000.00 35,000.00 12/03/97 11/03/27 359.08 01/31/00
54 SBC101 800392789 100,000.00 100,000.00 12/01/97 11/01/27 359.00 01/31/00
54 SBC101 800393449 153,000.00 153,000.00 12/01/97 11/01/27 359.00 01/31/00
54 SBC101 800396020 36,040.00 36,040.00 12/01/97 11/01/27 359.00 01/31/00
54 SBC101 800397473 135,100.00 135,051.83 11/01/97 10/01/27 358.00 01/31/00
54 SBC101 800398182 49,500.00 49,391.25 12/04/97 11/04/17 239.11 01/31/00
<CAPTION>
Original Current Scheduled
LTV Mortgage Payment
Pool ID Sale ID Account Ratio Rate Int & Prin
- ---------------------------------------------------------------
<S> <C> <C> <C> <C> <C>
54 SB98 661539080 56.7 11.600 459.05
54 SB98 661547513 72.0 12.990 442.17
54 SB98 661551044 75.0 12.250 172.90
54 SB98 661555367 74.9 11.200 645.84
54 SB98 661556605 70.0 10.250 294.82
54 SB98 661557066 75.8 10.850 1,035.11
54 SB98 661558353 80.0 13.350 587.49
54 SB98 661559765 80.0 10.825 1,089.38
54 SB98 661563270 74.9 12.000 547.22
54 SB98 661563494 74.9 10.775 556.26
54 SB98 661563908 89.2 10.650 1,099.13
54 SB98 661564005 90.0 10.650 233.35
54 SB98 661564187 75.0 12.000 231.44
54 SB98 661565333 80.0 13.500 1,204.97
54 SB98 661565549 70.0 12.150 618.90
54 SB98 661565564 70.0 11.700 302.68
54 SB98 661565978 74.8 12.000 331.21
54 SB98 661567735 70.0 10.150 342.14
54 SB98 661570945 39.5 11.500 341.26
54 SB98 661571091 50.0 11.750 227.12
54 SB98 661571257 70.0 13.650 1,782.13
54 SB98 661572099 64.8 11.500 266.39
54 SB98 661573667 85.0 11.850 484.13
54 SB98 661573758 77.7 14.650 692.44
54 SB98 661574541 44.8 9.900 546.29
54 SB98 661574566 84.9 11.650 552.97
54 SB98 661574715 90.0 11.300 465.10
54 SB98 661574814 43.8 9.700 615.09
54 SB98 661574947 80.0 14.650 514.38
54 SB98 661578690 51.9 10.650 370.39
54 SB98 661580381 62.0 9.700 463.16
54 SB98 661580449 83.8 9.570 532.11
54 SB98 661581017 85.0 11.650 579.01
54 SB98 661581801 81.2 12.000 1,311.48
54 SB98 661582072 65.0 14.890 448.90
54 SB98 661584433 84.9 11.750 780.27
54 SB98 661585224 80.0 13.250 990.68
54 SB98 661585331 72.9 12.900 296.56
54 SBC101 800211229 61.2 10.750 560.09
54 SBC101 800247637 72.7 12.500 1,320.73
54 SBC101 800274706 65.0 13.590 277.18
54 SBC101 800288409 65.0 11.500 231.73
54 SBC101 800315798 90.0 11.450 524.26
54 SBC101 800336810 80.0 10.100 339.83
54 SBC101 800346496 85.0 10.500 1,244.05
54 SBC101 800348856 90.0 11.150 494.36
54 SBC101 800352320 60.0 10.700 139.46
54 SBC101 800364747 90.0 11.850 1,464.60
54 SBC101 800370538 85.0 12.000 1,398.91
54 SBC101 800375164 73.5 10.650 354.18
54 SBC101 800376063 83.9 12.000 780.72
54 SBC101 800382822 83.2 11.950 1,168.23
54 SBC101 800382889 74.2 9.450 462.11
54 SBC101 800384919 85.0 11.750 1,398.54
54 SBC101 800385866 49.0 11.750 681.35
54 SBC101 800389496 78.2 10.050 634.51
54 SBC101 800391948 50.7 10.150 311.04
54 SBC101 800392789 80.0 9.550 844.50
54 SBC101 800393449 90.0 11.700 1,538.54
54 SBC101 800396020 85.0 11.500 356.90
54 SBC101 800397473 84.9 11.000 1,286.59
54 SBC101 800398182 90.0 10.800 504.21
</TABLE>
<PAGE>
<TABLE>
ALLIANCE FUNDING Sale Schedule - Group 1, Sub-Pool I
A division of Superior Bank FSB 1997-4 Class 1 - Initial of Fixed Rate Mortgages - Settlement 12/22/97
Page 4 12/18/97
<CAPTION>
Zip
Pool ID Sale ID Account Name Address City State Code
- ----------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C>
54 SBC101 800406290 SMITH JULIA M 142-11 222ND STREET LAURELTON NY 11413
54 SBC101 800408601 ROMERO MIGUEL 114 4TH AVENUE LARGO FL 33770
54 SBC101 800410615 CRAWFORD JAMES T 206 S CLAIRBORNE STREET GOLDSBORO NC 27530
54 SBC101 800411795 RODARMEL MICHAEL 12371 TALPA STREET SPRING HILL FL 34608
54 SBC101 800412462 NOLFI CHESTER A 101 ABERDEEN DR OAKDALE PA 15071
54 SBC101 800414617 MORGAN PEGGY S 607 POINSETTIA ROAD AUBURNDALE FL 33823
54 SBC101 800417859 WINE TIMOTHY G 2340 PARKLYN STREET PITTSBURGH PA 15234
54 SBC101 800418006 TERPAK WALTER JR 92 BROOKSIDE STREET WILKES BARRE PA 18705
54 SBC101 800418873 SELMON ANTHONY J 3712 18TH AVENUE SOUTH ST PETERSBURG FL 33711
54 SBC101 800419368 DUDLEY-JOHNS YAVONDA 4423 WOODBRIDGE ROAD TALLAHASSEE FL 32303
54 SBC101 800419715 DECKER JEAN M 78 ELM STREET HOOSICK FALLS NY 12090
54 SBC101 800421638 RANDOLPH DELRINE 114 NORTH 56TH STREET PHILADELPHIA PA 19139
54 SBC101 800422263 VAUGHN KENNETH 101 GRAY STREET GOLDSBORO NC 27534
54 SBC101 800423204 TANKARD PERRY E. 709 COLFAX STREET DURHAM NC 27707
54 SBC101 800423899 BOSLEY PATRICIA 4612 WELDON AVENUE TREVOSE PA 19047
54 SBC101 800425944 MICKLO GLENN M 45 MADISON ROAD HERMINIE PA 15637
54 SBC101 800426249 VINTON GUADALUPE 410 WELLS STREET IMMOKALEE FL 34142
54 SBC101 800427056 SPENARD RICHARD T SR 20 EDGEHILL ROAD GLEN ROCK PA 17327
54 SBC101 800428435 STYRA LISA ANN 181 REAR DAVID ROAD DURHAM CT 06422
54 SBC101 800431751 GONZALES JOSEPH G 5122 WEST NEVADA PLACE DENVER CO 80219
54 SBC101 800432320 MORGAN KATHLEEN A 214 BERKLEY AVENUE PITTSBURGH PA 15221
54 SBC101 800433393 GUARDADO RICHARD E 1321 LOCUST STREET READING PA 19604
54 SBC101 800434524 PLUMMER MARJORIE J 4004 SAN RAFAEL STREET TAMPA FL 33629
54 SBC101 800436313 LEWIS DAMIAN 55 KENT ROAD ISLAND PARK NY 11558
54 SBC101 800439184 BARNES HAMLET JR 1925 MARKET STREET HARRISBURG PA 17104
54 SBC101 800439291 STAMBAUGH JODY R 1464 WHITEFORD ROAD YORK PA 17402
54 SBC101 800439853 GORMAN JAMES E 10652 WATONGA DRIVE CHESTERTOWN MD 21620
54 SBC101 800440638 WALLS SHERRIE M 15813 GULF BOULEVARD REDINGTON BEACH FL 33708
54 SBC101 800442246 SLAVIK JOSEPH F JR 8918 67TH STREET PINELLAS PARK FL 33782
54 SBC101 800442295 SPENCE CORNELL 3001 LASSITER ROAD APEX NC 27502
54 SBC101 800444135 TORREY MARY ELIZABETH 119 TAPAWINGO ROAD SW VIENNA VA 22180
54 SBC101 800446395 TRINH NAM 41 ROGERS AVENUE ROCHESTER NY 14606
54 SBC101 800446585 RUIZ JOSEFINA DELGADO 6220 CR 17 SOUTH SEBRING FL 33870
54 SBC101 800446635 CAUDILL DEANNA 743 42ND AVENUE NORTHEAST ST PETERSBURG FL 33703
54 SBC101 800449373 BROWN JAMES J 245 22ND AVENUE NORTHEAST NAPLES FL 34120
54 SBC101 800453391 WRIGHT DELORES BREWTON 14690 SOUTHEAST 44TH AVE STARKE FL 32091
54 SBC102 800150872 MITCHELL WILLIE MAE 129 COMMONWEALTH DR WYANDANCH NY 11798
54 SBC102 800304552 MILLER DALE OWEN 150 STOEBNER WAY PITTSBURGH PA 15206
54 SBC102 800304560 MILLER DALE OWEN 8023 NIMICK PLACE PITTSBURGH PA 15221
54 SBC102 800312928 PAVLINICH EDWARD P 319 DEER LANE ROCHESTER PA 15074
54 SBC102 800318842 NEGRONI DOMINGO A 11 ROBERTSON DRIVE MIDDLETOWN NY 10940
54 SBC102 800327538 KINER CASSANDRA 72 SAWYER STREET ROCHESTER NY 14619
54 SBC102 800342065 TRAVIS WILLIAM L 62 TRAVIS ROAD GREENE NY 13778
54 SBC102 800352833 EDWARDS LAWRENCE 1284 PIMA WAY BULLHEAD CITY AZ 86442
54 SBC102 800354862 FELDKAMP GERALD D 4602 EAST LESTER STREET TUCSON AZ 85712
54 SBC102 800355885 HUDOCK JOSEPH 75 CHESTNUT STREET BRIDGEWATER NJ 08807
54 SBC102 800356560 SMITH JAMES P JR 165 NORTH RIDGE DRIVE HASTINGS NY 13036
54 SBC102 800364903 RUIZ BALENTIN 2037 EAST YALE STREET PHOENIX AZ 85006
54 SBC102 800367336 DIAZ EDUARDO R 61 ROUTE 560 SANDYSTON NJ 07851
54 SBC102 800373680 SORILLO ELNORA R 3108 RHEIMS ROAD BALTIMORE MD 21244
54 SBC102 800375560 ACETO ERGOLO L 10 LONGBOW DRIVE WEST WARWICK RI 02893
54 SBC102 800384125 NAPOLITANO ANTHONY G 953 NORTH HILL ROAD BALTIMORE MD 21818
54 SBC102 800393654 SANDREY MICHAEL 40 SUNNYBROOK LANE CLINTON CT 06413
54 SBC102 800396301 DAWSON KENNETH 46 NASSAU ROAD POUGHKEEPSIE NY 12601
54 SBC102 800397283 KEYS ETHEL L 3701 BELLAIRE ROAD PHILADELPHIA PA 19154
54 SBC102 800401051 SERROUKAS MARY 706 SCHOOL STREET BALDWIN NY 11510
54 SBC102 800403412 SILINSKAS LINDA M 2017 MARNE HIGHWAY HAINESPORT TWP NJ 08036
54 SBC102 800412744 JOLLY HUBERT 172-22 AMELIA ROAD JAMAICA NY 11434
54 SBC102 800412835 DURAN JEFFREY M 2109 ONTARIO DRIVE COLORADO SPINGS CO 80910
54 SBC102 800413759 RIVERA FRANK 15 VALENTINE STREET ROOSEVELT NY 11575
54 SBC102 800414575 GONZALEZ CRUZ 202 WINDSOR WAY STROUDSBURG PA 18360
54 SBC102 800419608 FIGUEROA NELSON 10 CAMPBELL STREET AMITYVILLE NY 11701
<CAPTION>
Principal Cut-off Date First
Balance at Principal Payment Maturity Rem Date
Pool ID Sale ID Account Origination Balance Date Date Term Due
- -------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C>
54 SBC101 800406290 126,000.00 126,000.00 12/01/97 11/01/12 179.00 01/31/00
54 SBC101 800408601 20,800.00 20,800.00 12/01/97 11/01/12 179.00 01/31/00
54 SBC101 800410615 124,000.00 124,000.00 12/03/97 11/03/27 359.08 01/31/00
54 SBC101 800411795 68,000.00 67,963.79 11/15/97 10/15/12 178.45 01/31/00
54 SBC101 800412462 58,000.00 58,000.00 12/07/97 11/07/27 359.21 01/31/00
54 SBC101 800414617 45,338.00 45,177.55 11/22/97 10/22/12 178.68 01/31/00
54 SBC101 800417859 63,000.00 63,000.00 11/28/97 10/28/12 178.88 01/31/00
54 SBC101 800418006 75,650.00 75,650.00 12/13/97 11/13/17 239.41 01/31/00
54 SBC101 800418873 48,025.00 47,972.77 12/03/97 11/03/12 179.08 01/31/00
54 SBC101 800419368 97,500.00 97,500.00 12/13/97 11/13/27 359.41 01/31/00
54 SBC101 800419715 37,800.00 37,800.00 12/04/97 11/04/12 179.11 01/31/00
54 SBC101 800421638 27,200.00 27,200.00 12/17/97 11/17/12 179.54 01/31/00
54 SBC101 800422263 79,050.00 79,050.00 12/11/97 11/11/12 179.34 01/31/00
54 SBC101 800423204 68,000.00 68,000.00 11/24/97 10/24/27 358.75 01/31/00
54 SBC101 800423899 47,600.00 47,547.35 11/15/97 10/15/12 178.45 01/31/00
54 SBC101 800425944 26,000.00 25,851.29 12/10/97 11/10/12 179.31 01/31/00
54 SBC101 800426249 54,900.00 54,900.00 12/05/97 11/05/17 239.15 01/31/00
54 SBC101 800427056 95,920.00 95,594.45 12/01/97 11/01/12 179.00 01/31/00
54 SBC101 800428435 95,000.00 95,000.00 12/01/97 11/01/12 179.00 01/31/00
54 SBC101 800431751 77,000.00 77,000.00 01/01/98 12/01/27 360.00 01/31/00
54 SBC101 800432320 63,000.00 63,000.00 12/13/97 11/13/12 179.41 01/31/00
54 SBC101 800433393 44,880.00 44,797.53 11/24/97 10/24/27 358.75 01/31/00
54 SBC101 800434524 93,600.00 93,600.00 12/05/97 11/05/27 359.15 01/31/00
54 SBC101 800436313 100,000.00 99,857.03 12/01/97 11/01/12 179.00 01/31/00
54 SBC101 800439184 63,000.00 63,000.00 12/01/97 11/01/27 359.00 01/31/00
54 SBC101 800439291 67,900.00 67,900.00 12/07/97 11/07/12 179.21 01/31/00
54 SBC101 800439853 110,500.00 110,500.00 12/10/97 11/10/27 359.31 01/31/00
54 SBC101 800440638 100,000.00 100,000.00 12/13/97 11/13/27 359.41 01/31/00
54 SBC101 800442246 52,000.00 52,000.00 12/10/97 11/10/12 179.31 01/31/00
54 SBC101 800442295 65,800.00 65,800.00 12/03/97 11/03/27 359.08 01/31/00
54 SBC101 800444135 144,800.00 144,800.00 12/10/97 11/10/27 359.31 01/31/00
54 SBC101 800446395 28,700.00 28,683.30 10/01/97 09/01/27 357.00 01/31/00
54 SBC101 800446585 21,200.00 21,200.00 12/01/97 11/01/07 119.00 01/31/00
54 SBC101 800446635 50,250.00 50,250.00 12/12/97 11/12/27 359.38 01/31/00
54 SBC101 800449373 72,800.00 72,800.00 12/17/97 11/17/27 359.54 01/31/00
54 SBC101 800453391 79,050.00 79,050.00 12/17/97 11/17/27 359.54 01/31/00
54 SBC102 800150872 54,500.00 54,152.06 05/04/97 04/04/12 172.08 01/31/00
54 SBC102 800304552 12,000.00 11,947.78 10/02/97 09/02/12 177.04 01/31/00
54 SBC102 800304560 10,000.00 9,956.48 10/02/97 09/02/12 177.04 01/31/00
54 SBC102 800312928 25,800.00 25,800.00 11/27/97 10/27/12 178.85 01/31/00
54 SBC102 800318842 52,000.00 52,000.00 12/01/97 11/01/27 359.00 01/31/00
54 SBC102 800327538 40,950.00 40,846.40 11/27/97 10/27/12 178.85 01/31/00
54 SBC102 800342065 20,000.00 20,000.00 11/20/97 10/20/12 178.62 01/31/00
54 SBC102 800352833 30,000.00 29,942.67 11/01/97 10/01/12 178.00 01/31/00
54 SBC102 800354862 61,200.00 61,200.00 11/01/97 10/01/12 178.00 01/31/00
54 SBC102 800355885 40,000.00 39,894.01 10/24/97 09/24/12 177.76 01/31/00
54 SBC102 800356560 74,320.00 74,320.00 12/01/97 11/01/27 359.00 01/31/00
54 SBC102 800364903 40,700.00 40,629.48 11/01/97 10/01/12 178.00 01/31/00
54 SBC102 800367336 99,450.00 99,444.41 11/28/97 10/28/12 178.88 01/31/00
54 SBC102 800373680 81,600.00 81,537.00 11/08/97 10/08/17 238.22 01/31/00
54 SBC102 800375560 74,500.00 74,500.00 12/05/97 11/05/12 179.15 01/31/00
54 SBC102 800384125 56,800.00 56,800.00 12/03/97 11/03/12 179.08 01/31/00
54 SBC102 800393654 55,000.00 55,000.00 12/19/97 11/19/12 179.61 01/31/00
54 SBC102 800396301 109,200.00 109,200.00 12/19/97 11/19/27 359.61 01/31/00
54 SBC102 800397283 67,500.00 67,386.08 11/15/97 10/15/12 178.45 01/31/00
54 SBC102 800401051 98,175.00 98,175.00 12/01/97 11/01/12 179.00 01/31/00
54 SBC102 800403412 99,540.00 99,540.00 12/01/97 11/01/27 359.00 01/31/00
54 SBC102 800412744 93,800.00 93,800.00 12/01/97 11/01/27 359.00 01/31/00
54 SBC102 800412835 60,800.00 60,800.00 12/01/97 11/01/27 359.00 01/31/00
54 SBC102 800413759 70,000.00 70,000.00 11/24/97 10/24/12 178.75 01/31/00
54 SBC102 800414575 198,000.00 198,000.00 12/13/97 11/13/27 359.41 01/31/00
54 SBC102 800419608 80,000.00 80,000.00 11/20/97 10/20/12 178.62 01/31/00
<CAPTION>
Original Current Scheduled
LTV Mortgage Payment
Pool ID Sale ID Account Ratio Rate Int & Prin
- ---------------------------------------------------------------
<S> <C> <C> <C> <C> <C>
54 SBC101 800406290 90.0 10.800 1,180.92
54 SBC101 800408601 36.4 10.450 229.28
54 SBC101 800410615 80.0 12.250 1,299.39
54 SBC101 800411795 80.0 10.300 611.88
54 SBC101 800412462 60.7 10.150 515.43
54 SBC101 800414617 65.7 10.900 512.47
54 SBC101 800417859 75.0 11.250 611.89
54 SBC101 800418006 85.0 9.800 720.04
54 SBC101 800418873 85.0 10.800 450.11
54 SBC101 800419368 75.0 13.100 1,086.17
54 SBC101 800419715 70.0 11.750 381.56
54 SBC101 800421638 85.0 12.500 290.29
54 SBC101 800422263 85.0 10.950 749.83
54 SBC101 800423204 83.9 12.750 738.95
54 SBC101 800423899 70.0 9.950 415.97
54 SBC101 800425944 37.1 9.150 266.03
54 SBC101 800426249 90.0 10.950 564.80
54 SBC101 800427056 80.0 10.500 877.42
54 SBC101 800428435 29.2 9.300 784.99
54 SBC101 800431751 73.3 12.000 792.03
54 SBC101 800432320 90.0 10.550 578.64
54 SBC101 800433393 79.4 13.500 514.06
54 SBC101 800434524 78.0 9.850 811.05
54 SBC101 800436313 80.0 12.600 1,075.02
54 SBC101 800439184 90.0 11.300 614.29
54 SBC101 800439291 84.9 11.750 685.39
54 SBC101 800439853 85.0 11.650 1,106.94
54 SBC101 800440638 80.0 10.750 933.48
54 SBC101 800442246 80.0 11.750 524.89
54 SBC101 800442295 79.2 13.250 740.76
54 SBC101 800444135 80.0 10.250 1,297.55
54 SBC101 800446395 70.0 11.950 294.11
54 SBC101 800446585 80.0 9.900 278.99
54 SBC101 800446635 75.0 11.750 507.23
54 SBC101 800449373 65.0 11.550 723.71
54 SBC101 800453391 85.0 12.500 843.67
54 SBC102 800150872 89.3 12.250 571.10
54 SBC102 800304552 60.0 10.350 131.53
54 SBC102 800304560 50.0 10.350 109.61
54 SBC102 800312928 60.0 11.750 305.51
54 SBC102 800318842 77.0 12.800 567.11
54 SBC102 800327538 90.0 11.150 394.62
54 SBC102 800342065 29.6 10.450 182.20
54 SBC102 800352833 57.6 13.350 386.51
54 SBC102 800354862 85.0 11.600 610.73
54 SBC102 800355885 40.0 11.450 394.59
54 SBC102 800356560 80.0 10.850 699.36
54 SBC102 800364903 84.9 11.900 415.52
54 SBC102 800367336 85.0 12.500 1,061.39
54 SBC102 800373680 80.0 14.000 1,014.71
54 SBC102 800375560 80.9 12.600 800.89
54 SBC102 800384125 80.0 13.300 641.67
54 SBC102 800393654 43.6 11.000 523.78
54 SBC102 800396301 82.7 9.800 942.21
54 SBC102 800397283 75.0 11.000 642.82
54 SBC102 800401051 85.0 12.450 1,043.97
54 SBC102 800403412 90.0 11.050 951.71
54 SBC102 800412744 70.0 11.800 950.42
54 SBC102 800412835 80.0 13.750 708.39
54 SBC102 800413759 70.0 11.300 682.54
54 SBC102 800414575 90.0 9.400 1,650.46
54 SBC102 800419608 80.0 10.990 761.25
</TABLE>
<PAGE>
<TABLE>
ALLIANCE FUNDING Sale Schedule - Group 1, Sub-Pool I
A division of Superior Bank FSB 1997-4 Class 1 - Initial of Fixed Rate Mortgages - Settlement 12/22/97
Page 5 12/18/97
<CAPTION>
Zip
Pool ID Sale ID Account Name Address City State Code
- ----------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C>
54 SBC102 800421117 SOLOMON YVETTE B 1211 FARGO STREET SOUTH SAINT PETERSBURG FL 33712
54 SBC102 800426207 WINDWARD MICHAEL B 701 WEST SPRINGBANK AVENUE ORANGE CITY FL 32763
54 SBC102 800430985 STANCO DAVID G 164 JUDD FARM ROAD WATERTOWN CT 06795
54 SBC102 800432478 RICHARDSON ROBINA G 138 ANDERSON STREET SUMTER SC 29150
54 SBC102 800435646 WILLIAMS CLEO 44 PROSPECT STREET TRENTON NJ 08618
54 SBC102 800437642 SLAFMAN DAVID 4719 4TH STREET PHILADELPHIA PA 19120
54 SBC102 800438665 WALKER ELEANOR 1054 EDGEMOOR AVENUE SEBRING FL 33870
54 SBC102 800440109 BECKTON LOUIS L 3301 ELFERS PARKWAY NEW PORT RICHEY FL 34655
54 SBC102 800445785 COTTON ROBERT 762 PRESTON AVENUE SOUTH ST PETERSBURG FL 33701
54 SBC102 800448268 BLACKWOOD BRIAN 170-05 FOCH BOULEVARD JAMAICA NY 11434
54 SBC102 800450595 ASSO PAULE 22 RANDOLPH PLACE NW WASHINGTON DC 20001
54 SBC102 800450777 PURVIS KENT 1027 ONTARIO STREET JACKSONVILLE FL 32254
54 SBC102 800450959 ALLEN VENICE M 5127 CRAWFORDSVILLE DRIVE PORT CHARLOTTE FL 33948
54 SBC102 800451916 DARTY SHAWN 5438 NORTH MARVINE STREET PHILADELPHIA PA 19141
54 SBC102 800454035 ENSULO ANTHONY 14 BOGOTA ROAD MASTIC BEACH NY 11951
54 SBC102 800457517 STANCHI CHRISTOPHE W 12399 HANLEY DRIVE SPRING HILL FL 34608
54 SBC102 800460289 JONES MARCELL NORTH HIGHWAY 221 GREENVILLE FL 32331
54 SBC102 800461451 TRAMMEL GWENDOLYN C 596 NOTTINGHAM ROAD ELKTON MD 21921
54 SBC108 800313546 FORD DENNIS L 7227 CLINTON ROAD UPPER DARBY TWP PA 19082
54 SBC108 800359382 HICKMAN TIMOTHY 152 LENOX AVENUE GREENBROOK NJ 08812
54 SBC108 800381246 ZIPP JAMES 22 WEST DRIVE BAYSHORE NY 11706
54 SBC108 800396293 PYLE NATE N 417 GERTRUDE DRIVE DALLESPORT WA 98617
54 SBC108 800400020 BERRY RUTH ANN 2811 EUTAW ROAD HOLLY HILL SC 29059
54 SBC108 800405029 SNYDER PHYLLIS 249 WEST COULTER STREET PHILADELPHIA PA 19144
54 SBC108 800417941 MCCLELLAN JAMES L 3 LONG ROAD MYERSTOWN PA 17067
54 SBC108 800417966 CARPENTER CYNTHIA A PO BOX 424 STANARDSVILLE VA 22973
54 SBC108 800425266 STREAMS THOMAS 1120 STERRETT STREET BALTIMORE MD 21230
54 SBC108 800426371 BRITZKE THOMAS 76 PENN AVENUE EXETER PA 18643
54 SBC108 800426983 WISE LEMUEL R 1633 EAST 32ND STREET BALTIMORE MD 21218
54 SBC108 800432916 MCGRAW ELIZABETH 1800 N PORT STREET BALTIMORE MD 21213
54 SBC108 800436594 SMITH, JIMMY RAY 216 IRVING STREET LONGVIEW TX 75605
54 SBC108 800443087 LEUNG YUE XIN 8 SANDY HOLLOW COURT RIVERHEAD NY 11901
54 SBC108 800447070 GRAY RONALD 4101 28TH STREET MT RANIER MD 20712
54 SBC108 800449225 OLIVERIA CYNTHIA 117 S CATHERINE STREET BALTIMORE MD 21223
54 SBC108 800456162 PITURACHSATI SUVICHARN 807 WALNUT STREET COULEE DAM WA 99116
54 SBC108 800464190 MACON ARTHUR 112 VALLEY SPRINGS ROAD COLUMBIA SC 29223
54 SBC99 800305666 OSSONT LYNN H 533 HAYES ROAD DUNDEE NY 14837
54 SBC99 800310971 BELL GEORGE III 3 LOS ANGELES DRIVE MYSTIC ISLAND NJ 08087
54 SBC99 800317810 MCRAE ROBERT 93 HEDDEN TERRACE NEWARK NJ 07108
54 SBC99 800327850 BAYKO MARY JANE 14531 RIDGE ROAD NORTH HUNTINGTON PA 15642
54 SBC99 800336166 WAITS DAVID LYNN 6339 JOHN WEST ROAD DOUGLASVILLE GA 30134
54 SBC99 800356818 STEPHENS HAROLD R 12391 WADSWORTH ROAD RITTMAN OH 44270
54 SBC99 800356933 SINGLETERY ALOHA P 111 JOHNSON STREET BUFFALO NY 14212
54 SBC99 800360729 LOVELACE HAROLD G 204 VERMONT AVE PROVIDENCE RI 02905
54 SBC99 800376444 AXUM MCHEZAJI A 129 TUCKERMAN STREET NE WASHINGTON DC 20011
54 SBC99 800386385 SANCHEZ SERGIO A 92 MEEKER COURT MANASSAS PARK VA 22111
54 SBC99 800389173 TAYLOR NORMAN L 310 KIER STREET KINGMAN AZ 86401
54 SBC99 800392722 SERAFIM JOHN A 29 MILLBOURNE AVENUE UPPER DARBY PA 19082
54 SBC99 800394215 KIPFER DAVID W 16333 OLYMPIC VIEW ROAD NW SILVERDALE WA 98383
54 SBC99 800396392 MCCLAIN HENRY F 19196 EAST OXFORD DRIVE AURORA CO 80013
54 SBC99 800396939 EMMERT TAMMY G 222 WEST WATER STREET LANSFORD PA 18232
54 SBC99 800401218 ANDERSON STEVEN L 407 GREENWICH STREET PHILADELPHIA PA 19146
54 SBC99 800403255 DRAKEFORD BETTY P 169 MORNING SIDE DRIVE COLUMBIA SC 29210
54 SBC99 800405243 ALLEN LOREN P 437 N BEAVER STREET YORK PA 17401
54 SBC99 800406456 PASSLER ERNST F JR 8507 MOULTON DRIVE PORT RICHEY FL 34668
54 SBC99 800406738 WELLS JANETTE JAQUINTA 2735 6TH STREET SOUTH ST PETERSBURG FL 33705
54 SBC99 800409856 WING ROSITA M 5712 BURLINGTON AVE NORTH ST PETERSBURG FL 33710
54 SBC99 800410185 BACKER A CHARLES 37122 BELFORD COURT ZEPHYRHILLS FL 33149
54 SBC99 800412728 TOURNADE MARY LAVON 109 PALM AVENUE AUBURNDALE FL 33823
54 SBC99 800413510 MORGAN ROBERT 1257 PENINSULA TRACE LAWRENCEVILLE GA 30244
54 SBC99 800417917 BRODEUR DALE R 645 SLOOP POINT LANE KURE BEACH NC 28449
54 SBC99 800425068 OYEWOLETURNE ALICE 140-02 LINDEN BOULEVARD SOUTH OZONE PARK NY 11436
<CAPTION>
Principal Cut-off Date First
Balance at Principal Payment Maturity Rem Date
Pool ID Sale ID Account Origination Balance Date Date Term Due
- -------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C>
54 SBC102 800421117 46,750.00 46,635.58 12/01/97 11/01/12 179.00 01/31/00
54 SBC102 800426207 47,600.00 47,600.00 12/17/97 11/17/12 179.54 01/31/00
54 SBC102 800430985 82,000.00 82,000.00 12/17/97 11/17/12 179.54 01/31/00
54 SBC102 800432478 59,500.00 59,500.00 12/21/97 11/21/12 179.67 01/31/00
54 SBC102 800435646 80,500.00 80,500.00 12/13/97 11/13/12 179.41 01/31/00
54 SBC102 800437642 24,500.00 24,500.00 12/06/97 11/06/27 359.18 01/31/00
54 SBC102 800438665 18,000.00 18,000.00 12/17/97 11/17/12 179.54 01/31/00
54 SBC102 800440109 37,800.00 37,800.00 12/07/97 11/07/27 359.21 01/31/00
54 SBC102 800445785 45,050.00 45,050.00 12/19/97 11/19/27 359.61 01/31/00
54 SBC102 800448268 140,250.00 140,250.00 12/01/97 11/01/27 359.00 01/31/00
54 SBC102 800450595 120,600.00 120,600.00 12/07/97 11/07/27 359.21 01/31/00
54 SBC102 800450777 35,000.00 35,000.00 12/17/97 11/17/07 119.54 01/31/00
54 SBC102 800450959 68,000.00 68,000.00 12/21/97 11/21/27 359.67 01/31/00
54 SBC102 800451916 32,800.00 32,800.00 12/17/97 11/17/12 179.54 01/31/00
54 SBC102 800454035 123,250.00 123,250.00 12/18/97 11/18/27 359.57 01/31/00
54 SBC102 800457517 49,500.00 49,500.00 12/19/97 11/19/27 359.61 01/31/00
54 SBC102 800460289 44,000.00 44,000.00 12/17/97 11/17/27 359.54 01/31/00
54 SBC102 800461451 92,800.00 92,800.00 12/17/97 11/17/27 359.54 01/31/00
54 SBC108 800313546 28,000.00 27,981.04 07/27/97 06/27/12 174.84 01/31/00
54 SBC108 800359382 153,000.00 153,000.00 12/14/97 11/14/27 359.44 01/31/00
54 SBC108 800381246 81,000.00 81,000.00 12/20/97 11/20/27 359.64 01/31/00
54 SBC108 800396293 55,355.00 55,355.00 01/01/98 12/01/27 360.00 01/31/00
54 SBC108 800400020 12,305.00 12,305.00 12/01/97 11/01/12 179.00 01/31/00
54 SBC108 800405029 38,500.00 38,500.00 12/18/97 11/18/27 359.57 01/31/00
54 SBC108 800417941 115,000.00 115,000.00 12/21/97 11/21/27 359.67 01/31/00
54 SBC108 800417966 62,400.00 62,400.00 11/21/97 10/21/12 178.65 01/31/00
54 SBC108 800425266 40,800.00 40,800.00 12/01/97 11/01/12 179.00 01/31/00
54 SBC108 800426371 48,780.00 48,780.00 12/19/97 11/19/12 179.61 01/31/00
54 SBC108 800426983 56,000.00 56,000.00 12/01/97 11/01/27 359.00 01/31/00
54 SBC108 800432916 25,600.00 25,600.00 12/06/97 11/06/12 179.18 01/31/00
54 SBC108 800436594 32,500.00 32,500.00 01/01/98 12/01/27 360.00 01/31/00
54 SBC108 800443087 140,250.00 140,250.00 12/18/97 11/18/27 359.57 01/31/00
54 SBC108 800447070 67,125.00 67,125.00 12/12/97 11/12/27 359.38 01/31/00
54 SBC108 800449225 23,100.00 23,100.00 12/14/97 11/14/12 179.44 01/31/00
54 SBC108 800456162 34,500.00 34,500.00 01/01/98 12/01/27 360.00 01/31/00
54 SBC108 800464190 174,250.00 174,250.00 12/19/97 11/19/27 359.61 01/31/00
54 SBC99 800305666 64,600.00 63,763.17 11/01/97 10/01/27 358.00 01/31/00
54 SBC99 800310971 25,000.00 25,000.00 11/01/97 10/01/12 178.00 01/31/00
54 SBC99 800317810 54,600.00 54,559.08 11/01/97 10/01/27 358.00 01/31/00
54 SBC99 800327850 76,000.00 75,898.19 10/02/97 09/02/27 357.04 01/31/00
54 SBC99 800336166 52,000.00 52,000.00 12/01/97 11/01/27 359.00 01/31/00
54 SBC99 800356818 136,000.00 136,000.00 12/01/97 11/01/27 359.00 01/31/00
54 SBC99 800356933 38,250.00 38,250.00 12/03/97 11/03/27 359.08 01/31/00
54 SBC99 800360729 66,400.00 66,400.00 11/23/97 10/23/12 178.72 01/31/00
54 SBC99 800376444 10,000.00 10,000.00 11/06/97 10/06/12 178.16 01/31/00
54 SBC99 800386385 89,200.00 89,200.00 12/01/97 11/01/12 179.00 01/31/00
54 SBC99 800389173 38,450.00 38,450.00 12/01/97 11/01/12 179.00 01/31/00
54 SBC99 800392722 40,000.00 39,909.90 11/20/97 10/20/12 178.62 01/31/00
54 SBC99 800394215 126,000.00 126,000.00 12/01/97 11/01/12 179.00 01/31/00
54 SBC99 800396392 88,000.00 88,000.00 12/01/97 11/01/27 359.00 01/31/00
54 SBC99 800396939 27,900.00 27,843.90 12/03/97 11/03/27 359.08 01/31/00
54 SBC99 800401218 20,800.00 20,747.96 12/01/97 11/01/12 179.00 01/31/00
54 SBC99 800403255 72,450.00 72,450.00 12/01/97 11/01/27 359.00 01/31/00
54 SBC99 800405243 34,800.00 34,711.72 12/01/97 11/01/27 359.00 01/31/00
54 SBC99 800406456 23,500.00 23,500.00 12/01/97 11/01/12 179.00 01/31/00
54 SBC99 800406738 43,200.00 43,200.00 11/28/97 10/28/17 238.88 01/31/00
54 SBC99 800409856 46,750.00 46,629.20 11/10/97 10/10/12 178.29 01/31/00
54 SBC99 800410185 34,000.00 33,978.59 11/27/97 10/27/17 238.85 01/31/00
54 SBC99 800412728 43,900.00 43,900.00 12/01/97 11/01/27 359.00 01/31/00
54 SBC99 800413510 89,100.00 89,100.00 12/01/97 11/01/12 179.00 01/31/00
54 SBC99 800417917 82,500.00 82,475.77 11/24/97 10/24/27 358.75 01/31/00
54 SBC99 800425068 135,000.00 135,000.00 12/01/97 11/01/12 179.00 01/31/00
<CAPTION>
Original Current Scheduled
LTV Mortgage Payment
Pool ID Sale ID Account Ratio Rate Int & Prin
- ---------------------------------------------------------------
<S> <C> <C> <C> <C> <C>
54 SBC102 800421117 82.0 12.450 497.13
54 SBC102 800426207 80.0 9.800 505.70
54 SBC102 800430985 45.5 10.600 756.22
54 SBC102 800432478 85.0 11.400 691.29
54 SBC102 800435646 70.0 11.850 818.75
54 SBC102 800437642 70.0 11.750 247.31
54 SBC102 800438665 50.7 10.150 195.08
54 SBC102 800440109 90.0 9.750 324.76
54 SBC102 800445785 85.0 11.150 434.14
54 SBC102 800448268 85.0 11.950 1,437.23
54 SBC102 800450595 90.0 11.300 1,175.92
54 SBC102 800450777 74.4 10.650 475.22
54 SBC102 800450959 80.0 11.750 686.40
54 SBC102 800451916 80.0 13.250 420.41
54 SBC102 800454035 85.0 12.000 1,267.77
54 SBC102 800457517 90.0 10.800 463.93
54 SBC102 800460289 80.0 13.500 503.98
54 SBC102 800461451 80.0 13.250 1,044.72
54 SBC108 800313546 80.0 14.300 338.42
54 SBC108 800359382 90.0 11.550 1,520.99
54 SBC108 800381246 90.0 9.900 704.85
54 SBC108 800396293 70.0 11.000 527.16
54 SBC108 800400020 68.3 10.350 134.88
54 SBC108 800405029 70.0 10.400 349.30
54 SBC108 800417941 60.5 9.550 971.18
54 SBC108 800417966 80.0 12.350 658.71
54 SBC108 800425266 80.0 13.400 464.12
54 SBC108 800426371 90.0 10.650 451.69
54 SBC108 800426983 80.0 12.990 619.03
54 SBC108 800432916 80.0 12.500 273.22
54 SBC108 800436594 58.0 13.240 365.62
54 SBC108 800443087 85.0 10.400 1,272.45
54 SBC108 800447070 75.0 11.400 659.62
54 SBC108 800449225 70.0 10.900 218.24
54 SBC108 800456162 75.0 10.750 322.05
54 SBC108 800464190 85.0 10.050 1,535.61
54 SBC99 800305666 85.0 13.550 742.48
54 SBC99 800310971 30.4 11.050 284.93
54 SBC99 800317810 70.0 12.100 565.83
54 SBC99 800327850 80.0 12.550 814.07
54 SBC99 800336166 77.0 10.850 489.32
54 SBC99 800356818 85.0 9.950 1,188.47
54 SBC99 800356933 85.0 12.300 402.30
54 SBC99 800360729 80.0 12.600 713.82
54 SBC99 800376444 06.6 10.600 92.22
54 SBC99 800386385 80.0 12.750 969.33
54 SBC99 800389173 69.9 9.600 326.12
54 SBC99 800392722 52.6 10.600 368.89
54 SBC99 800394215 57.2 11.000 1,199.93
54 SBC99 800396392 80.0 13.750 1,025.30
54 SBC99 800396939 90.0 11.300 272.04
54 SBC99 800401218 66.0 10.250 186.39
54 SBC99 800403255 90.0 9.990 635.27
54 SBC99 800405243 80.0 10.550 319.63
54 SBC99 800406456 50.0 10.750 263.42
54 SBC99 800406738 90.0 10.375 427.68
54 SBC99 800409856 85.0 10.990 444.86
54 SBC99 800410185 85.0 11.250 356.75
54 SBC99 800412728 62.7 12.500 468.53
54 SBC99 800413510 90.0 10.650 825.04
54 SBC99 800417917 52.0 9.900 717.91
54 SBC99 800425068 90.0 11.850 1,373.06
</TABLE>
<PAGE>
<TABLE>
ALLIANCE FUNDING Sale Schedule - Group 1, Sub-Pool I
A division of Superior Bank FSB 1997-4 Class 1 - Initial of Fixed Rate Mortgages - Settlement 12/22/97
Page 6 12/18/97
<CAPTION>
Zip
Pool ID Sale ID Account Name Address City State Code
- ----------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C>
54 SBC99 800425134 DELAROSA RICHARD R 2002 RICHLAND DRIVE ABILENE TX 79603
54 SBC99 800426389 KOINOGLOU NANCY 370 GREENE AVENUE SAYVILLE NY 11782
54 SBC99 800430084 CAVALIERE JOHN 785 SHELBOURNE ROAD UPPER DARBY PA 19082
54 SBC99 800436073 MEYER ARLENE VALERIE 590 55TH AVENUE NORTHEAST ST PETERSBURG FL 33703
54 SBC99 800438053 HAYES-MORRIS RUTH C 16133 NW 78TH TERRACE ALACHUA FL 32615
54 SUPER FIX 800280117 O'CONNOR KEVIN M 816 MARLYN AVENUE BALTIMORE MD 21221
54 SUPER FIX 800291957 LIPPERT KIMBERLY ANN 37 LIMERICK ROAD HERMINE PA 15637
54 SUPER FIX 800344228 SEWARD RODERICK J 962 CLAIRE DRIVE LAKEWOOD NJ 08701
54 SUPER FIX 800358889 MCMATH GENE 669 SOUTH STATE LINE ROAD SHARON PA 16146
54 SUPER FIX 800394900 ADAMS MARY B 6604 OAK ORCHARD CT CLINTON MD 20735
54 SUPER FIX 800403784 BENFIELD DEAN A 1213 E PHILADELPHIA AVENUE GILBERTSVILLE PA 19525
54 SUPER FIX 800420408 NELKE VALTERS 109 SOUTH MAIN STREET SOUTH TOMS RIVER NJ 08757
54 SUPER FIX 800440448 COWDER LEO W 5009 SOUTH DRAWDY ROAD PLANT CITY FL 33567
54 SUPER FIX 800446510 CULBERTSON GRACE 3123 51ST STREET NORTH ST PETERSBURG FL 33710
54 SUPER FIX 800447690 LAPP PHILIP P 24 WOODLAWN DRIVE SCHUYLKILL HAVEN PA 17972
54 SUPER FIX 800454399 BENDECK NASSRY C 3210 71ST STREET NORTH ST PETERSBURG FL 33710
54 SUPER FIX 800463796 HUDDLESTON JAMES 7050 JENNER AVENUE NEW PORT RICHEY FL 34655
54 SUPER FIX 800469173 MCGILL DIANE E 1354 BRADFORD ROAD FT MYERS FL 33901
54 SUPER FIX 800471658 JACKSON MARY E. 6864 16TH WAY SOUTH ST PETERSBURG FL 33712
54 SUPER FIX 800480758 DICKEY DONNA LYNN 1025 EAST SUMMERLIN STREET BARTOW FL 33830
54 SUPER FIX 800481202 MENDLOWITZ HOPE T. 1217 STENEWAHEE AVENUE SEBRING FL 33870
54 SUPER FIX 800483364 THEO HARRY 116 15TH AVENUE WEST BABYLON NY 11704
--------------------------------
332 Sale Total
55 MLC700 680152980 SMITH CARL ROUTE 2 BOX 39M OLD FORTE NC 28762
55 MLC700 800141673 M'BENGUE AMADOU 1051 WAGNER AVENUE PHILADELPHIA PA 19141
55 MLC700 800249922 LINAREZ RAFAEL 571 SOUTH CLINTON AVENUE TRENTON NJ 08611
55 MLC700 800256786 PICONE ROBERTO 67 NESCOPECK STREET TAMAQUA PA 18252
55 MLC700 800269292 MOYER DONALD R 542 SOUTH 4TH STREET HAMBURG PA 19526
55 MLC700 800272551 BRONG BRION R 916 DIMMICK STREET DICKSON CITY PA 18519
55 MLC700 800295354 TYLER ENOCH 115 TURNABOUT LANE HUNTINGTOWN MD 20639
55 MLC700 800314643 HUBBARD JOHN REGINALD 1319 SPRUCE STREET READING PA 19602
55 MLC700 800321655 GLYNN SALLY ANN 872 SUN VALLEY NORTH TONAWANDA NY 14120
55 MLC700 800322471 HUTCHINSON JOSEPH 200 EVANS AVENUE FREEPORT NY 11520
55 MLC700 800326068 SPRINGER MICHAEL E 14 PINE ROCK ROAD SOUTHBURY CT 06488
55 MLC700 800327785 ADAM ROGER F J 1351 WASHINGTON ROAD PITTSBURGH PA 15228
55 MLC700 800345043 INDAL KAMLA 2516 CURTIS STREET EAST ELMHURST NY 11369
55 MLC700 800353617 CHAMBERS ANDREW 4235 BURLINGTON AVENUE NOR ST PETERSBURG FL 33713
55 MLC700 800354920 SURGEON WILLIAM WALLACE 6700 SUITLAND ROAD SUITLAND MD 20746
55 MLC700 800357220 CINO JOSEPH 2808 ADAMS STREET WEST INVERNESS FL 34453
55 MLC700 800362642 PALLOZZI RALPH A 190 GOTHIC ROAD EARLTON NY 12058
55 MLC700 800364416 BOTSCH MICHAEL M 4565 ESSEX LANE SPRING HILL FL 34606
55 MLC700 800366197 FLORES SANDRA 1043 GREENWICH STREET READING PA 19604
55 MLC700 800367708 GAYLE PHILMOUR 33 PAERDEGAT 7TH STREET BROOKLYN NY 11236
55 MLC700 800368110 JOHNSON ESTHER 1827 LAUREL TERRACE BELMAR NJ 07719
55 MLC700 800368987 KAMARA SAM 3476 EASTCHESTER ROAD BRONX NY 10475
55 MLC700 800370140 KOLB WILLIAM V 510 SWEEZY AVENUE RIVERHEAD NY 11901
55 MLC700 800371270 SATTERLEE CHRISTINE P 2586 SOUTH 1000 WEST SYRACUSE UT 84075
55 MLC700 800372856 TERRY AMAZIE 6222 LIMEKILN TURNPIKE PHILADELPHIA PA 19141
55 MLC700 800372906 DIXON WILLIAM 945 N 10TH STREET READING PA 19604
55 MLC700 800374670 DAVIS KATHERINE J 1331 BARGEVIEW DRIVE CHITTENANGO NY 13037
55 MLC700 800374787 HANCOCK SHARON D 3014 WEST MASON PLACE #B TAMPA FL 33629
55 MLC700 800375057 WRIGHT EVERLEAN G. 2750 NC HWY 20 SAINT PAULS NC 28384
55 MLC700 800378309 HAINES WILLIAM E 6560 PAGODA TREE HERNANDO FL 34442
55 MLC700 800379380 MUTH JOSEPH J 404 WEST ACADEMY STREET WILKES BARRE PA 18702
55 MLC700 800381097 HANERFELD PHILIP W 34 SOUTH 10TH STREET MAHANOY CITY PA 17948
55 MLC700 800382798 FLORES-CHAVE CARMELIA M 14 CAMINO LOMA SANTA FE NM 87505
55 MLC700 800390189 STRAVATO JOHN M 483 ISLIP AVE ISLIP NY 11751
55 MLC700 800390197 EATMON DOFFES 813 FRANKLIN STREET GOLDSBORO NC 27530
55 MLC700 800395758 CRACE EDWIN G SR 175 ARKAYS AVENUE SPRING HILL FL 34609
55 MLC700 800396632 KELLY ALLAN S 110 TYLER LANE DUNCANSVILLE PA 16635
55 MLC700 800398992 DAVENPORT DAVID 228 ASH ROAD HAYESVILLE NC 28904
<CAPTION>
Principal Cut-off Date First
Balance at Principal Payment Maturity Rem Date
Pool ID Sale ID Account Origination Balance Date Date Term Due
- -------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C>
54 SBC99 800425134 50,915.00 50,915.00 12/01/97 11/01/27 359.00 01/31/00
54 SBC99 800426389 157,600.00 157,600.00 11/28/97 10/28/12 178.88 01/31/00
54 SBC99 800430084 48,800.00 48,800.00 12/01/97 11/01/27 359.00 01/31/00
54 SBC99 800436073 106,200.00 105,946.31 11/28/97 10/28/27 358.88 01/31/00
54 SBC99 800438053 208,675.00 208,675.00 12/01/97 11/01/27 359.00 01/31/00
54 SUPER FIX 800280117 56,400.00 56,400.00 11/13/97 10/13/12 178.39 01/31/00
54 SUPER FIX 800291957 36,000.00 35,987.14 10/01/97 09/01/27 357.00 01/31/00
54 SUPER FIX 800344228 71,000.00 71,000.00 12/12/97 11/12/12 179.38 01/31/00
54 SUPER FIX 800358889 32,300.00 32,242.88 11/24/97 10/24/27 358.75 01/31/00
54 SUPER FIX 800394900 128,000.00 127,975.04 11/06/97 10/06/12 178.16 01/31/00
54 SUPER FIX 800403784 76,000.00 76,000.00 12/25/97 11/25/12 179.80 01/31/00
54 SUPER FIX 800420408 25,000.00 25,000.00 11/22/97 10/22/12 178.68 01/31/00
54 SUPER FIX 800440448 30,400.00 30,400.00 12/14/97 11/14/12 179.44 01/31/00
54 SUPER FIX 800446510 39,650.00 39,650.00 12/24/97 11/24/17 239.77 01/31/00
54 SUPER FIX 800447690 79,000.00 79,000.00 12/03/97 11/03/12 179.08 01/31/00
54 SUPER FIX 800454399 42,400.00 42,400.00 12/14/97 11/14/12 179.44 01/31/00
54 SUPER FIX 800463796 61,200.00 61,200.00 12/26/97 11/26/27 359.84 01/31/00
54 SUPER FIX 800469173 76,000.00 76,000.00 01/01/98 12/01/27 360.00 01/31/00
54 SUPER FIX 800471658 64,000.00 64,000.00 12/26/97 11/26/27 359.84 01/31/00
54 SUPER FIX 800480758 30,000.00 30,000.00 01/01/98 12/01/27 360.00 01/31/00
54 SUPER FIX 800481202 63,900.00 63,900.00 12/26/97 11/26/12 179.84 01/31/00
54 SUPER FIX 800483364 128,800.00 128,800.00 12/28/97 11/28/27 359.90 01/31/00
-------------------------------------------- ------
332 22,312,058.00 22,293,965.22 272.14
55 MLC700 680152980 56,700.00 56,418.77 05/02/97 04/02/27 352.01 01/31/00
55 MLC700 800141673 30,000.00 29,834.44 06/05/97 05/05/17 233.10 01/31/00
55 MLC700 800249922 15,400.00 15,369.51 11/01/97 10/01/12 178.00 01/31/00
55 MLC700 800256786 34,000.00 33,556.11 09/25/97 08/25/27 356.78 01/31/00
55 MLC700 800269292 25,000.00 24,957.90 10/24/97 09/24/12 177.76 01/31/00
55 MLC700 800272551 29,760.00 29,752.55 10/05/97 09/05/12 177.14 01/31/00
55 MLC700 800295354 110,500.00 110,500.00 09/07/97 08/07/27 356.19 01/31/00
55 MLC700 800314643 28,000.00 27,959.16 11/01/97 10/01/12 178.00 01/31/00
55 MLC700 800321655 35,000.00 34,911.00 12/01/97 11/01/27 359.00 01/31/00
55 MLC700 800322471 145,000.00 144,856.79 09/18/97 08/18/27 356.55 01/31/00
55 MLC700 800326068 150,000.00 149,902.57 10/16/97 09/16/12 177.50 01/31/00
55 MLC700 800327785 152,000.00 150,897.93 10/05/97 09/05/12 177.14 01/31/00
55 MLC700 800345043 140,000.00 140,000.00 10/17/97 09/17/12 177.53 01/31/00
55 MLC700 800353617 64,515.00 64,515.00 11/20/97 10/20/12 178.62 01/31/00
55 MLC700 800354920 100,800.00 100,800.00 10/26/97 09/26/27 357.83 01/31/00
55 MLC700 800357220 41,850.00 41,603.60 10/24/97 09/24/17 237.76 01/31/00
55 MLC700 800362642 62,900.00 62,769.99 11/23/97 10/23/12 178.72 01/31/00
55 MLC700 800364416 37,530.00 37,446.60 10/26/97 09/26/27 357.83 01/31/00
55 MLC700 800366197 32,000.00 31,993.24 11/17/97 10/17/27 358.52 01/31/00
55 MLC700 800367708 164,050.00 163,789.80 10/23/97 09/23/27 357.73 01/31/00
55 MLC700 800368110 87,000.00 87,000.00 11/06/97 10/06/12 178.16 01/31/00
55 MLC700 800368987 168,000.00 168,000.00 11/01/97 10/01/12 178.00 01/31/00
55 MLC700 800370140 139,400.00 139,286.44 11/22/97 10/22/27 358.68 01/31/00
55 MLC700 800371270 68,000.00 68,000.00 11/01/97 10/01/27 358.00 01/31/00
55 MLC700 800372856 31,850.00 31,850.00 11/13/97 10/13/17 238.39 01/31/00
55 MLC700 800372906 48,000.00 47,735.41 11/15/97 10/15/27 358.45 01/31/00
55 MLC700 800374670 90,000.00 89,875.55 11/07/97 10/07/27 358.19 01/31/00
55 MLC700 800374787 140,250.00 140,250.00 12/01/97 11/01/27 359.00 01/31/00
55 MLC700 800375057 38,652.00 38,598.72 11/21/97 10/21/27 358.65 01/31/00
55 MLC700 800378309 28,000.00 27,901.47 10/25/97 09/25/12 177.80 01/31/00
55 MLC700 800379380 66,000.00 66,000.00 11/08/97 10/08/27 358.22 01/31/00
55 MLC700 800381097 14,450.00 14,444.12 11/06/97 10/06/12 178.16 01/31/00
55 MLC700 800382798 34,000.00 33,815.36 10/12/97 09/12/12 177.37 01/31/00
55 MLC700 800390189 85,000.00 85,000.00 11/06/97 10/06/12 178.16 01/31/00
55 MLC700 800390197 72,000.00 72,000.00 11/17/97 10/17/27 358.52 01/31/00
55 MLC700 800395758 50,600.00 50,530.34 11/14/97 10/14/27 358.42 01/31/00
55 MLC700 800396632 70,000.00 69,791.82 11/06/97 10/06/12 178.16 01/31/00
55 MLC700 800398992 45,050.00 45,045.90 11/14/97 10/14/17 238.42 01/31/00
<CAPTION>
Original Current Scheduled
LTV Mortgage Payment
Pool ID Sale ID Account Ratio Rate Int & Prin
- ---------------------------------------------------------------
<S> <C> <C> <C> <C> <C>
54 SBC99 800425134 85.0 11.750 513.94
54 SBC99 800426389 80.0 12.600 1,694.24
54 SBC99 800430084 78.7 13.500 558.96
54 SBC99 800436073 84.9 9.500 892.99
54 SBC99 800438053 85.0 11.250 2,026.78
54 SUPER FIX 800280117 80.0 11.450 556.37
54 SUPER FIX 800291957 80.0 9.900 313.27
54 SUPER FIX 800344228 74.7 11.100 681.52
54 SUPER FIX 800358889 85.0 12.500 344.72
54 SUPER FIX 800394900 80.0 13.700 1,486.29
54 SUPER FIX 800403784 80.0 13.250 855.59
54 SUPER FIX 800420408 29.4 10.200 271.72
54 SUPER FIX 800440448 80.0 12.250 369.75
54 SUPER FIX 800446510 65.0 10.500 395.86
54 SUPER FIX 800447690 53.7 10.100 699.13
54 SUPER FIX 800454399 80.0 11.000 403.78
54 SUPER FIX 800463796 90.0 9.550 516.84
54 SUPER FIX 800469173 71.6 10.600 700.89
54 SUPER FIX 800471658 77.1 12.990 707.47
54 SUPER FIX 800480758 75.0 11.500 297.09
54 SUPER FIX 800481202 90.0 10.800 598.90
54 SUPER FIX 800483364 85.8 9.300 1,064.28
-------------------------------------------
332 78.3 11.339 222,123.31
55 MLC700 680152980 90.0 11.800 574.51
55 MLC700 800141673 60.0 10.850 306.60
55 MLC700 800249922 70.0 11.200 176.97
55 MLC700 800256786 85.0 12.250 356.28
55 MLC700 800269292 35.7 9.800 215.71
55 MLC700 800272551 80.0 12.600 319.93
55 MLC700 800295354 89.8 11.050 1,056.49
55 MLC700 800314643 80.0 13.350 317.41
55 MLC700 800321655 41.1 10.600 322.78
55 MLC700 800322471 70.7 9.500 1,219.24
55 MLC700 800326068 80.0 9.650 1,277.73
55 MLC700 800327785 76.0 11.000 1,727.63
55 MLC700 800345043 80.0 12.500 1,494.16
55 MLC700 800353617 85.0 10.900 609.52
55 MLC700 800354920 80.0 12.350 1,064.08
55 MLC700 800357220 90.0 10.950 430.55
55 MLC700 800362642 85.0 12.000 647.00
55 MLC700 800364416 90.0 10.000 329.35
55 MLC700 800366197 80.0 10.900 302.33
55 MLC700 800367708 85.0 12.150 1,706.40
55 MLC700 800368110 79.0 10.500 795.83
55 MLC700 800368987 80.0 14.050 1,997.23
55 MLC700 800370140 84.4 10.300 1,254.35
55 MLC700 800371270 85.0 13.300 768.19
55 MLC700 800372856 84.9 12.300 357.38
55 MLC700 800372906 84.9 12.150 499.28
55 MLC700 800374670 80.0 10.750 840.13
55 MLC700 800374787 85.0 9.800 1,210.12
55 MLC700 800375057 48.3 9.950 337.77
55 MLC700 800378309 80.0 10.850 315.61
55 MLC700 800379380 75.0 13.875 775.49
55 MLC700 800381097 85.0 12.350 176.69
55 MLC700 800382798 46.5 12.800 425.72
55 MLC700 800390189 70.8 11.300 828.80
55 MLC700 800390197 90.0 10.990 685.13
55 MLC700 800395758 84.3 9.850 438.45
55 MLC700 800396632 80.0 9.700 598.84
55 MLC700 800398992 85.0 9.900 431.77
</TABLE>
<PAGE>
<TABLE>
ALLIANCE FUNDING Sale Schedule - Group 1, Sub-Pool I
A division of Superior Bank FSB 1997-4 Class 1 - Initial of Fixed Rate Mortgages - Settlement 12/22/97
Page 7 12/18/97
<CAPTION>
Zip
Pool ID Sale ID Account Name Address City State Code
- ----------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C>
55 MLC700 800400293 MOURIS JOHN A 53 TODD HILL ROAD POUGHKEEPSIE NY 12603
55 MLC700 800402570 BOLDEN BOBBY LEE 2527 4TH AVENUE SOUTH SAINT PETERSBURG FL 33712
55 MLC700 800405318 DAVENPORT LYNDEN ARTHUR 24 RIO VISTA ROAD ARCADIA FL 34266
55 MLC700 800410102 ALIFFI CARMINE A 408 ROOSEVELT AVENUE FREEPORT NY 11520
55 MLC700 800416133 CALDWELL KENNETH B 1723 LAKETON ROAD PITTSBURGH PA 15221
55 MLC700 800416257 BICE ROGER D 1106 CHESTNUT STREET DRESDEN OH 43821
55 MLC700 800418014 CHESTER MAMIE E 203 APACHE STREET LEHIGH ACRES FL 33936
55 MLC700 800418030 BOWEN GARY R 1670 TOWPATH ROAD DAUPHIN PA 17018
55 MLC700 800419210 POPE PRISCILLA RT 1 BOX 3-D HEMINGWAY SC 29554
55 MLC700 800421158 TAYLOR PATRICIA W 1105 PENNSYLVANIA AVENUE PALM HARBOR FL 34683
55 MLC700 800422636 MOREL CAROLE 38 BEECH STREET WYANDANCH NY 11798
55 MLC700 800425209 RICHARDS JEFFREY L 732 OAK STREET NORTHEAST ST PETERSBURG FL 33701
55 MLC700 800425423 REEVES PATRICIA A 1001 COBBLESTONE DRIVE SPRING HILL FL 34606
55 MLC700 800425803 SWISHER DOUGLAS R 211 SWATARA CIRCLE JONESTOWN PA 17038
55 MLC700 800427767 CURRY ROY F JR 3710 5TH AVENUE NORTHWEST NAPLES FL 34120
--------------------------------
53 Sale Total
56 MLC700 800333882 MC ELRATH ALVIN P. 1204 N WESTNEDGE AVENUE KALAMAZOO MI 49007
56 MLC700 800427353 OSTLER TOBY A 5817 SOUTH 3230 WEST TAYLORSVILLE UT 84118
--------------------------------
2 Sale Total
57 SB586 661529123 MCKNIGHT DAVID TRUMAN 504 SMITH AVENUE CUMBERLAND KY 40823
57 SB586 661532408 FRITSCHE THOMAS R 2016 HAVEN DRIVE EVANSVILLE IN 47711
57 SB586 661535138 CASSETTY PAT 7029 BLOOMFIELD RD SPRINGFIELD KY 40069
57 SB586 661536631 MACH JANA M 345 4TH STREET EAST RUSH CITY MN 55069
57 SB586 661537274 GASPER DEBORAH J 591 HUNTERS POINT RD NEENAH WI 54956
57 SB586 661539205 WIPPER STEVEN ALAN 3783 95TH AVENUE SOUTHEAST SAINT CLOUD MN 56304
57 SB586 661540559 BLOOMQUIST ROBERT E 8631 ELLIOT AVENUE BLOOMINGTON MN 55420
57 SB586 661541813 GOSCH JEFFREY F 626 EAST BRIDGE STREET WAUSAU WI 54403
57 SB586 661541946 UPHOFF VIRGIL K 149 WEST MACARTHUR STREET SUN PRAIRIE WI 53590
57 SB586 661542654 CONN JAMES M JR 1609 EVERGREEN PLACE ELKHART IN 46514
57 SB586 661542662 HALL CECIL E 628 NORTH COLUMBIA STREET UNION CITY IN 47390
57 SB586 661542670 GOODRICH CECELIA E 1700 STEVENS AVENUE ELKHART IN 46516
57 SB586 661544569 WALLACE KIRK RANDAL 2145 CLARENCE AVENUE RACINE WI 53405
57 SB586 661547257 MANNING MICHAEL T 645 4TH STREET EAST LITCHFIELD MN 55355
57 SB586 661555011 GRAMBO GARY 90 BROAD STREET LYONS NY 14489
57 SB586 661557322 BRADSHAW JAMES JR 403 CORAL ST BEACH HAVEN NJ 08008
57 SB586 661557447 ENNINGA MARY JEANNE 10627 THOMAS AVENUE SOUTH BLOOMINGTON MN 55431
57 SB586 661557504 CHANDLER STELLA L 720 NORTH JACKSON STREET RUSHVILLE IN 46173
57 SB586 661560375 ENGEL PHILIP E 2710 WALNUT STREET PORTAGE IN 46368
57 SB586 661564351 WORD LORRAINA P 926 NORTH ADAMS STREET SOUTH BEND IN 46628
57 SB586 661569848 SWEATMON CATHERINE T 216 WYNDINGBROOK DRIVE SHEPHERDSVILLE KY 40165
57 SB586 661571869 FOSTER EMILY BOULWARE 626 SOUTH 13TH AVENUE MAYWOOD IL 60153
57 SB587 661501262 LAUFENBURGER BRUCE A 3965 8TH STREET WEST WINONA MN 55987
57 SB81DD 661522342 PAGE DAVID R 21 BELLEFONTE STREET RACELAND KY 41169
57 SB85D 661534560 GLAPION THOMAS A 705 RED FEATHER TRAIL PEMBERTON TOWNSHIP NJ 08015
57 SB85D 661536094 BALLINGER BARBARA 11 MURRAY LANE TOWNSHIP OF NEPTUNE NJ 07753
57 SB85D 661547000 POLEY BARBARA ANN 114 WEST POPLAR AVENUE LINWOOD NJ 08221
57 SB85D 661547166 SIATKOWSKI MARK W 107 GLENRIDGE ROAD GLENVILLE NY 12302
57 SBC103 800300683 TOWLER SIMON A 520 PINENEEDLE ROAD ATHENS GA 30606
57 SBC103 800304875 SHUCK RONALD G 8921 WEST MAPLE DRIVE PASCO WA 99301
57 SBC103 800309874 SHEPHERD WILBURN 17 STEPHENS STREET SUMMERVILLE GA 30747
57 SBC103 800316416 CARLTON LINDA O 1701 PEARL AVENUE ALBANY GA 31707
57 SBC103 800321333 SCURRY RAYFIELD 800 VALLOTTON DRIVE VALDOSTA GA 31601
57 SBC103 800340168 JAMISON MICHAEL T 1620 JADE DRIVE POCATELLO ID 83202
57 SBC103 800348302 MCGHIE ROBIN R 20823 49TH AVENUE WEST LYNNWOOD WA 98036
57 SBC103 800351991 PITTMAN JAMES D 160 STOKES DRIVE STOCKBRIDGE GA 30281
57 SBC103 800354847 BIRKETT JOHN THOMAS 1063 PETER ANDERSON ROAD BURLINGTON WA 98233
57 SBC103 800356685 SNYDER ARTHUR D 1520 TRUMAN STREET WALLA WALLA WA 99362
57 SBC103 800369159 NATVIG RUSSELL A 1539 SW JORDAN ST GRANTS PASS OR 97526
57 SBC103 800385106 UFFORD MICHAEL L 55 KARI PLACE LEBANON OR 97355
57 SBC103 5100000313 LIEBERT SHARON S 220 NW WILSHIRE STREET EAST WENATCHEE WA 98802
<CAPTION>
Principal Cut-off Date First
Balance at Principal Payment Maturity Rem Date
Pool ID Sale ID Account Origination Balance Date Date Term Due
- -------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C>
55 MLC700 800400293 123,200.00 123,200.00 11/22/97 10/22/12 178.68 01/31/00
55 MLC700 800402570 40,800.00 40,767.21 11/21/97 10/21/17 238.65 01/31/00
55 MLC700 800405318 52,700.00 52,640.63 11/27/97 10/27/27 358.85 01/31/00
55 MLC700 800410102 214,000.00 213,244.30 11/27/97 10/27/12 178.85 01/31/00
55 MLC700 800416133 67,500.00 67,099.85 11/22/97 10/22/12 178.68 01/31/00
55 MLC700 800416257 68,000.00 67,819.37 12/01/97 11/01/12 179.00 01/31/00
55 MLC700 800418014 44,200.00 44,200.00 11/27/97 10/27/27 358.85 01/31/00
55 MLC700 800418030 68,600.00 68,568.03 11/22/97 10/22/12 178.68 01/31/00
55 MLC700 800419210 64,000.00 63,803.54 11/29/97 10/29/12 178.92 01/31/00
55 MLC700 800421158 39,900.00 39,900.00 12/01/97 11/01/27 359.00 01/31/00
55 MLC700 800422636 97,750.00 97,750.00 11/23/97 10/23/12 178.72 01/31/00
55 MLC700 800425209 89,000.00 88,819.52 11/27/97 10/27/17 238.85 01/31/00
55 MLC700 800425423 15,000.00 15,000.00 11/27/97 10/27/17 238.85 01/31/00
55 MLC700 800425803 97,750.00 97,638.42 11/23/97 10/23/27 358.72 01/31/00
55 MLC700 800427767 90,000.00 89,898.59 11/27/97 10/27/27 358.85 01/31/00
------------------------------------------- ------
53 3,903,657.00 3,897,309.55 263.42
56 MLC700 800333882 36,000.00 35,817.91 11/21/97 10/21/07 118.65 01/31/00
56 MLC700 800427353 76,000.00 76,000.00 12/01/97 11/01/12 179.00 01/31/00
------------------------------------------- ------
2 112,000.00 111,817.91 159.67
57 SB586 661529123 49,700.00 49,700.00 11/01/97 09/15/12 178.00 01/31/00
57 SB586 661532408 27,500.00 27,384.94 12/01/97 10/22/07 119.00 01/31/00
57 SB586 661535138 39,500.00 39,500.00 12/01/97 10/22/07 119.00 01/31/00
57 SB586 661536631 81,000.00 80,923.21 12/01/97 10/09/17 239.00 01/31/00
57 SB586 661537274 91,300.00 91,213.45 12/01/97 10/09/17 239.00 01/31/00
57 SB586 661539205 42,500.00 42,500.00 12/01/97 10/22/07 119.00 01/31/00
57 SB586 661540559 34,700.00 34,418.36 11/01/97 09/22/07 118.00 01/31/00
57 SB586 661541813 62,600.00 62,600.00 12/01/97 10/09/17 239.00 01/31/00
57 SB586 661541946 99,500.00 99,469.20 12/01/97 09/27/27 359.00 01/31/00
57 SB586 661542654 126,000.00 124,257.97 12/01/97 10/09/17 239.00 01/31/00
57 SB586 661542662 15,900.00 15,900.00 12/01/97 10/10/16 227.00 01/31/00
57 SB586 661542670 48,800.00 48,763.57 11/01/97 09/09/17 238.00 01/31/00
57 SB586 661544569 58,100.00 58,100.00 12/01/97 10/03/22 299.00 01/31/00
57 SB586 661547257 65,700.00 65,621.48 12/01/97 10/09/17 239.00 01/31/00
57 SB586 661555011 48,100.00 48,100.00 12/01/97 10/15/12 179.00 01/31/00
57 SB586 661557322 169,400.00 168,992.39 12/01/97 10/03/22 299.00 01/31/00
57 SB586 661557447 96,400.00 96,245.78 12/01/97 10/15/12 179.00 01/31/00
57 SB586 661557504 46,000.00 45,955.60 12/01/97 10/09/17 239.00 01/31/00
57 SB586 661560375 68,100.00 68,100.00 12/01/97 10/15/12 179.00 01/31/00
57 SB586 661564351 42,800.00 42,800.00 01/01/98 11/15/12 180.00 01/31/00
57 SB586 661569848 51,700.00 51,700.00 12/01/97 10/22/07 119.00 01/31/00
57 SB586 661571869 36,000.00 36,000.00 12/01/97 09/27/27 359.00 01/31/00
57 SB587 661501262 47,000.00 46,978.42 11/01/97 09/03/22 298.00 01/31/00
57 SB81DD 661522342 40,800.00 40,645.17 11/01/97 09/20/08 130.00 01/31/00
57 SB85D 661534560 79,400.00 79,399.67 12/01/97 10/22/07 119.00 01/31/00
57 SB85D 661536094 100,400.00 100,400.00 12/01/97 10/03/22 299.00 01/31/00
57 SB85D 661547000 69,300.00 69,300.00 12/01/97 09/29/25 335.00 01/31/00
57 SB85D 661547166 63,800.00 63,800.00 12/01/97 10/15/12 179.00 01/31/00
57 SBC103 800300683 64,800.00 64,800.00 01/01/98 11/09/17 240.00 01/31/00
57 SBC103 800304875 100,700.00 100,700.00 01/01/98 11/12/15 216.00 01/31/00
57 SBC103 800309874 40,700.00 40,700.00 01/01/98 11/22/07 120.00 01/31/00
57 SBC103 800316416 77,600.00 77,600.00 01/01/98 11/15/12 180.00 01/31/00
57 SBC103 800321333 29,600.00 29,600.00 01/01/98 11/22/07 120.00 01/31/00
57 SBC103 800340168 59,300.00 59,300.00 01/01/98 11/22/07 120.00 01/31/00
57 SBC103 800348302 111,600.00 111,600.00 01/01/98 11/09/17 240.00 01/31/00
57 SBC103 800351991 88,000.00 88,000.00 01/01/98 11/15/12 180.00 01/31/00
57 SBC103 800354847 106,261.00 106,261.00 01/01/98 10/28/27 360.00 01/31/00
57 SBC103 800356685 71,337.00 71,337.00 01/01/98 11/09/17 240.00 01/31/00
57 SBC103 800369159 71,600.00 71,600.00 01/01/98 10/28/27 360.00 01/31/00
57 SBC103 800385106 79,411.00 79,411.00 01/01/98 11/09/17 240.00 01/31/00
57 SBC103 5100000313 87,600.00 87,600.00 01/01/98 11/04/21 288.00 01/31/00
<CAPTION>
Original Current Scheduled
LTV Mortgage Payment
Pool ID Sale ID Account Ratio Rate Int & Prin
- ---------------------------------------------------------------
<S> <C> <C> <C> <C> <C>
55 MLC700 800400293 80.0 13.990 1,458.79
55 MLC700 800402570 85.0 12.040 450.38
55 MLC700 800405318 85.0 9.350 437.37
55 MLC700 800410102 77.8 12.750 2,325.52
55 MLC700 800416133 90.0 11.050 645.37
55 MLC700 800416257 85.0 11.500 673.40
55 MLC700 800418014 85.0 11.650 442.77
55 MLC700 800418030 72.2 11.250 666.29
55 MLC700 800419210 80.0 12.600 792.98
55 MLC700 800421158 62.3 11.650 399.70
55 MLC700 800422636 85.0 11.250 949.41
55 MLC700 800425209 67.9 9.550 832.50
55 MLC700 800425423 36.5 10.500 149.76
55 MLC700 800425803 85.0 10.990 930.16
55 MLC700 800427767 73.1 9.350 746.94
----------- -----------------------------
53 79.3 11.365 39,092.79
56 MLC700 800333882 85.7 10.900 493.86
56 MLC700 800427353 64.1 9.400 789.03
----------- -----------------------------
2 71.0 9.880 1,282.89
57 SB586 661529123 53.7 11.125 524.97
57 SB586 661532408 54.4 11.275 353.57
57 SB586 661535138 58.0 12.375 530.95
57 SB586 661536631 90.0 11.875 816.69
57 SB586 661537274 88.5 11.875 920.54
57 SB586 661539205 57.4 11.125 543.08
57 SB586 661540559 38.5 11.875 457.15
57 SB586 661541813 84.0 11.625 621.16
57 SB586 661541946 76.5 11.275 893.77
57 SB586 661542654 90.0 10.625 1,170.86
57 SB586 661542662 79.5 12.125 164.95
57 SB586 661542670 80.0 13.625 547.89
57 SB586 661544569 79.5 10.375 501.56
57 SB586 661547257 82.1 10.125 590.22
57 SB586 661555011 80.1 10.125 480.46
57 SB586 661557322 76.3 10.525 1,479.10
57 SB586 661557447 77.7 13.490 1,154.56
57 SB586 661557504 70.7 11.740 459.82
57 SB586 661560375 75.6 11.750 744.26
57 SB586 661564351 80.0 13.375 509.59
57 SB586 661569848 47.4 10.625 647.17
57 SB586 661571869 80.0 13.875 390.45
57 SB587 661501262 60.2 12.375 468.98
57 SB81DD 661522342 80.0 10.275 477.31
57 SB85D 661534560 74.2 10.375 983.66
57 SB85D 661536094 76.0 11.375 933.51
57 SB85D 661547000 69.3 10.375 585.49
57 SB85D 661547166 53.6 10.625 655.48
57 SBC103 800300683 88.7 11.625 642.98
57 SBC103 800304875 70.9 11.375 1,013.03
57 SBC103 800309874 71.4 10.375 504.21
57 SBC103 800316416 80.0 10.375 786.15
57 SBC103 800321333 72.1 12.375 397.87
57 SBC103 800340168 78.1 9.320 702.79
57 SBC103 800348302 79.7 10.375 1,019.74
57 SBC103 800351991 80.0 10.375 891.51
57 SBC103 800354847 79.5 9.320 811.87
57 SBC103 800356685 75.0 9.320 606.02
57 SBC103 800369159 80.4 9.320 547.05
57 SBC103 800385106 63.5 10.525 733.00
57 SBC103 5100000313 79.6 9.320 703.79
</TABLE>
<PAGE>
<TABLE>
ALLIANCE FUNDING Sale Schedule - Group 1, Sub-Pool I
A division of Superior Bank FSB 1997-4 Class 1 - Initial of Fixed Rate Mortgages - Settlement 12/22/97
Page 8 12/18/97
<CAPTION>
Zip
Pool ID Sale ID Account Name Address City State Code
- ----------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C>
57 SBC103 5100000354 LANE HERBERT J 501 SOUTH CHERRY STREET BURLINGTON WA 98233
57 SBC103 5100003564 BROWN JAMES L 5235 LONE OAK RD SE SALEM OR 97306
57 SBC103 5100004000 ROBBINS PAUL J 911 SOUTH EVERETT STREET KENNEWICK WA 99336
57 SBC90 800272163 CARY LAVERNE B. 2106 STONEWALL STREET DUBLIN GA 31021
57 SBC90 800279002 INGERSOLL DAVID H 1612 NORTHERN SPY TRAIL AUGUSTA GA 30906
57 SBC90 800303885 LEE PATRICIA C 5012 STONEGATE DRIVE COLUMBUS GA 31909
57 SBC90 800303893 BELL DEWAINE 100 WESTCHESTER DR BARNESVILLE GA 30204
57 SBC90 800303919 LEWIS MELVIN S 2308 FORREST CREST CIRCLE LUTZ FL 33549
57 SBC90 800305021 VAUGHAN PATRICIA E 738 MENDI PLACE KUNA ID 83634
57 SBC90 800308405 VAUGHN FLOYD W 2356 MCANDREWS ROAD MEDFORD OR 97504
57 SBC90 800316457 SMITH MARY E 400 LOXLEY DRIVE WARNER ROBINS GA 31088
57 SBC90 800340135 ROBISON DONALD E 1913 SOUTH 296TH STREET FEDERAL WAY WA 98003
57 SBC90 800341448 WEBB L REINELL 805 FERRY STREET SEDRO WOOLLEY WA 98284
57 SBC90 800343154 CARTY BRIAN 1540 N WILLAMETTE BOULEVAR PORTLAND OR 97217
57 SBC90 800355620 MONTALVO LINDA LOU 2707 CLINTON WAY YAKIMA WA 98902
57 SBC90 800358392 VANHOUTEN SUSAN K 1059 W EL PELAR DR BOISE ID 83702
57 SBC90 800360547 SANNE RANDALL W 4510 CAMELLIA STREET SPRINGFIELD OR 97478
57 SBC90 800360687 GULLEY PAUL L 6913 S VALLEY HEIGHTS DR BOISE ID 83709
57 SBC90 800360802 LEE MARK A 11935 NE SACRAMENTO ST PORTLAND OR 97220
57 SBC90 800360893 MORENO MARIO F 258 SE WHITNEY STREET CAMAS WA 98607
57 SBC90 800364382 JAMISON DIRK 15540 SE DANA AVENUE MILWAUKIE OR 97267
57 SBC90 800410706 RIPLEY WILLIAM L 1125 NE IRVINE STREET MCMINNVILLE OR 97128
57 SBC90 800466112 NOBLE DANIEL B 111 LITTLE ROAD SKAMANIA WA 98648
57 SBC90 5100000552 DEARING MARIDEE L 10626 S WILDCAT ROAD MOLALLA OR 97038
57 SBC90 5100001220 MORRILL LAWRENCE E 639 TIMES AVENUE BREMERTON WA 98312
57 SBC90 5100001667 HOPKINS DAVID K 3854 SE YAMHILL STREET PORTLAND OR 97214
57 SBC90 5100001824 WESTBY ANDREW G 7312 43RD STREET WEST TACOMA WA 98466
57 SBC90 5100003762 HANCOCK JOHN L 835 MARKET STREET PROSSER WA 99350
--------------------------------
69 Sale Total
58 BSC35D 800260630 MAPLE PATRICK M. 1820 W RILEY THOMPSON RD MUSKEGON MI 49445
58 BSC35D 800278061 GREEN LOUIS 6904 CAVALIER ROAD JACKSONVILLE FL 32208
58 BSC35D 800315228 GUINN WILLIAM R 3224 GLADIOLA AVENUE SW WYOMING MI 49509
58 BSC35D 800345175 ROACH ROY LEE 8720 LIVE OAK DRIVE CHARLOTTE NC 28227
58 BSC35D 800353278 LUNDY JEAN B 2549 WILLIS COURT MACON GA 31201
58 BSC35D 800365140 BRYANT ANNIE B 3954 LEWIS DRIVE MACON GA 31217
58 BSC35D 800369811 HOLCOMBE ROY LAMAR 321 BRAND ROAD LOGANVILLE GA 30052
58 BSC35D 800374779 WOODALL JAMES S 3568 RIDGE DR GAINESVILLE GA 30501
58 BSC35D 800385791 HORNING JAMES L. 4448 STATE HIGHWAY 10 FORT PLAIN NY 13339
58 SBC101 800406431 REECE LESLIE BRANHAM 530 ARANT ROAD CHINA GROVE NC 28023
58 SBC101 800424715 SIBERT MYRNA 305 CARMEL DRIVE FORT WALTON BEACH FL 32547
58 SBC101 800431033 TELESFORD MARIE 7517 LYNCREST STREET NORTH PORT FL 34287
58 SBC101 800435133 SCHUCK ROGER R 440 HARVARD STREET ENGLEWOOD FL 34223
58 SBC102 800414914 NIPPER MICHAEL A LOT 12 PAMELA COURT BYRON GA 31008
58 SBC102 800422388 MOORE THOMAS L 1128 DELANO STREET DURHAM NC 27703
58 SBC102 800428989 HAUENSTEIN ROGER G 7724 14TH AVENUE SW SEATTLE WA 98106
58 SBC102 800429672 HUGHES TONY WEBB 3283 HOLLY SPRINGS RD MARIETTA GA 30062
58 SBC102 800433963 JENKINS STEVEN F 857 EAST 14TH STREET CHESTER PA 19013
58 SBC102 800438897 MONGER JUANITA 4618 ALDRIDGE DRIVE MEMPHIS TN 38109
58 SBC99 800289779 ARCHARD CHARLES H 1317 SPOKANE AVENUE ORLANDO FL 32803
58 SBC99 800402281 ZENKER RONALD H. 2209 SMOKE STONE CIRCLE MARIETTA GA 30062
--------------------------------
21 Sale Total
477 Grand Total Sub-Pool I
<CAPTION>
Principal Cut-off Date First
Balance at Principal Payment Maturity Rem Date
Pool ID Sale ID Account Origination Balance Date Date Term Due
- -------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C>
57 SBC103 5100000354 65,200.00 65,200.00 01/01/98 10/28/27 360.00 01/31/00
57 SBC103 5100003564 84,800.00 84,800.00 01/01/98 10/28/27 360.00 01/31/00
57 SBC103 5100004000 44,000.00 44,000.00 01/01/98 11/09/17 240.00 01/31/00
57 SBC90 800272163 49,300.00 49,299.78 12/01/97 10/22/07 119.00 01/31/00
57 SBC90 800279002 25,900.00 25,875.46 11/01/97 09/09/17 238.00 01/31/00
57 SBC90 800303885 63,400.00 63,394.48 12/01/97 10/22/07 119.00 01/31/00
57 SBC90 800303893 50,300.00 50,028.95 11/01/97 09/18/10 154.00 01/31/00
57 SBC90 800303919 58,200.00 58,071.95 12/01/97 10/15/12 179.00 01/31/00
57 SBC90 800305021 56,300.00 56,206.27 12/01/97 10/13/14 203.00 01/31/00
57 SBC90 800308405 90,500.00 90,500.00 12/01/97 10/04/21 287.00 01/31/00
57 SBC90 800316457 92,504.00 92,504.00 12/01/97 10/09/17 239.00 01/31/00
57 SBC90 800340135 125,300.00 125,300.00 01/01/98 11/04/21 288.00 01/31/00
57 SBC90 800341448 86,500.00 86,500.00 01/01/98 11/17/11 168.00 01/31/00
57 SBC90 800343154 62,000.00 62,000.00 01/01/98 11/22/07 120.00 01/31/00
57 SBC90 800355620 83,200.00 83,200.00 01/01/98 11/23/06 108.00 01/31/00
57 SBC90 800358392 146,800.00 146,800.00 01/01/98 11/22/07 120.00 01/31/00
57 SBC90 800360547 87,101.00 87,101.00 01/01/98 11/03/22 300.00 01/31/00
57 SBC90 800360687 59,800.00 59,800.00 01/01/98 11/17/11 168.00 01/31/00
57 SBC90 800360802 79,000.00 79,000.00 01/01/98 11/03/22 300.00 01/31/00
57 SBC90 800360893 79,600.00 79,600.00 01/01/98 10/28/27 360.00 01/31/00
57 SBC90 800364382 155,400.00 155,400.00 01/01/98 11/09/17 240.00 01/31/00
57 SBC90 800410706 80,000.00 79,970.71 12/01/97 10/03/22 299.00 01/31/00
57 SBC90 800466112 100,000.00 100,000.00 01/01/98 11/03/22 300.00 01/31/00
57 SBC90 5100000552 170,000.00 170,000.00 01/01/98 11/04/21 288.00 01/31/00
57 SBC90 5100001220 89,140.00 89,140.00 01/01/98 11/22/07 120.00 01/31/00
57 SBC90 5100001667 110,900.00 110,900.00 01/01/98 11/03/22 300.00 01/31/00
57 SBC90 5100001824 145,327.00 145,327.00 01/01/98 10/28/27 360.00 01/31/00
57 SBC90 5100003762 80,800.00 80,800.00 12/01/97 10/15/12 179.00 01/31/00
-------------------------------------------- ------
69 5,211,781.00 5,207,997.81 237.35
58 BSC35D 800260630 55,000.00 54,949.10 11/10/97 10/10/12 178.29 01/31/00
58 BSC35D 800278061 55,835.00 55,835.00 11/01/97 10/01/12 178.00 01/31/00
58 BSC35D 800315228 62,900.00 62,900.00 11/01/97 10/01/27 358.00 01/31/00
58 BSC35D 800345175 89,000.00 88,830.75 12/01/97 11/01/27 359.00 01/31/00
58 BSC35D 800353278 52,800.00 52,800.00 11/01/97 10/01/27 358.00 01/31/00
58 BSC35D 800365140 25,600.00 25,600.00 11/07/97 10/07/17 238.19 01/31/00
58 BSC35D 800369811 69,700.00 69,181.67 10/22/97 09/22/07 117.70 01/31/00
58 BSC35D 800374779 48,400.00 48,356.63 11/14/97 10/14/12 178.42 01/31/00
58 BSC35D 800385791 41,650.00 41,650.00 11/06/97 10/06/27 358.16 01/31/00
58 SBC101 800406431 44,000.00 43,876.62 12/03/97 11/03/17 239.08 01/31/00
58 SBC101 800424715 52,000.00 52,000.00 01/01/98 12/01/27 360.00 01/31/00
58 SBC101 800431033 55,500.00 55,500.00 12/07/97 11/07/07 119.21 01/31/00
58 SBC101 800435133 21,600.00 21,600.00 12/17/97 11/17/12 179.54 01/31/00
58 SBC102 800414914 72,981.00 72,981.00 11/14/97 10/14/17 238.42 01/31/00
58 SBC102 800422388 56,000.00 56,000.00 12/12/97 11/12/12 179.38 01/31/00
58 SBC102 800428989 85,000.00 85,000.00 12/19/97 11/19/12 179.61 01/31/00
58 SBC102 800429672 40,000.00 40,000.00 12/20/97 11/20/17 239.64 01/31/00
58 SBC102 800433963 22,900.00 22,900.00 12/17/97 11/17/27 359.54 01/31/00
58 SBC102 800438897 47,500.00 47,500.00 12/18/97 11/18/07 119.57 01/31/00
58 SBC99 800289779 84,150.00 83,512.83 11/01/97 10/01/27 358.00 01/31/00
58 SBC99 800402281 134,000.00 134,000.00 11/28/97 10/28/27 358.88 01/31/00
-------------------------------------------- ------
21 1,216,516.00 1,214,973.60 259.05
477 32,756,012.00 32,726,064.09 264.70
<CAPTION>
Original Current Scheduled
LTV Mortgage Payment
Pool ID Sale ID Account Ratio Rate Int & Prin
- ---------------------------------------------------------------
<S> <C> <C> <C> <C> <C>
57 SBC103 5100000354 79.5 9.320 498.15
57 SBC103 5100003564 77.0 9.295 646.48
57 SBC103 5100004000 78.5 13.375 486.69
57 SBC90 800272163 85.0 12.625 669.31
57 SBC90 800279002 63.1 11.875 261.13
57 SBC90 800303885 77.3 13.625 895.33
57 SBC90 800303893 64.4 11.000 560.57
57 SBC90 800303919 52.9 10.125 581.34
57 SBC90 800305021 77.1 10.375 543.05
57 SBC90 800308405 71.8 12.275 902.62
57 SBC90 800316457 79.0 10.775 868.24
57 SBC90 800340135 89.5 11.125 1,153.04
57 SBC90 800341448 80.8 11.375 951.84
57 SBC90 800343154 53.4 10.125 760.13
57 SBC90 800355620 77.0 9.320 1,052.97
57 SBC90 800358392 78.0 9.320 1,739.80
57 SBC90 800360547 79.9 9.320 692.37
57 SBC90 800360687 79.7 9.320 589.30
57 SBC90 800360802 68.6 10.125 669.04
57 SBC90 800360893 79.6 10.375 665.23
57 SBC90 800364382 78.4 9.320 1,320.15
57 SBC90 800410706 76.1 13.625 867.75
57 SBC90 800466112 80.0 10.275 856.70
57 SBC90 5100000552 85.0 10.625 1,508.43
57 SBC90 5100001220 75.5 9.320 1,056.44
57 SBC90 5100001667 78.0 11.400 1,033.01
57 SBC90 5100001824 89.1 12.125 1,392.73
57 SBC90 5100003762 89.7 11.025 848.78
-------------------------------------------
69 76.8 10.833 52,037.83
58 BSC35D 800260630 81.4 11.650 647.76
58 BSC35D 800278061 85.9 11.650 657.59
58 BSC35D 800315228 80.6 10.500 575.37
58 BSC35D 800345175 79.8 9.500 748.36
58 BSC35D 800353278 75.9 9.500 443.97
58 BSC35D 800365140 80.0 12.500 290.85
58 BSC35D 800369811 79.2 9.800 913.39
58 BSC35D 800374779 73.3 11.750 573.12
58 BSC35D 800385791 75.7 10.650 385.67
58 SBC101 800406431 80.0 12.700 506.12
58 SBC101 800424715 77.0 9.400 433.46
58 SBC101 800431033 77.0 9.550 719.68
58 SBC101 800435133 86.4 10.800 242.80
58 SBC102 800414914 90.0 11.800 793.43
58 SBC102 800422388 61.5 9.150 573.00
58 SBC102 800428989 73.9 9.550 890.16
58 SBC102 800429672 80.0 9.550 374.16
58 SBC102 800433963 71.5 10.650 212.05
58 SBC102 800438897 63.3 10.500 640.94
58 SBC99 800289779 85.0 12.000 865.58
58 SBC99 800402281 66.0 11.750 1,352.61
------------------------------------------
21 76.9 10.702 12,840.07
477 78.1 11.233 327,376.89
</TABLE>
<PAGE>
EXHIBIT H-2
MORTGAGE LOAN SCHEDULE FOR SUB-POOL II
<PAGE>
<TABLE>
Page 1
ALLIANCE FUNDING
A division of Superior Bank FSB
Sale Schedule -- Group 1, Sub Pool II
1997-4 Class 1 -- Initial of Fixed Rate Mortgages -- Settlement 12/22/97
<CAPTION>
Principal
Pool Sale Zip Balance at
ID ID Account Name Address City State Code Origination
- ------------------------------------------------------------------------------------------------------------------------------------
<C> <C> <S> <C> <C> <C> <C> <C> <C>
49 BSC35 800183253 VACHRIS JAMES E 131 113TH STREET STONE HARBOR NJ 08247 163,000.00
49 BSC35 800191462 CIRRI JOHN 147 28 15TH DRIVE WHITESTONE NY 11357 34,800.00
49 BSC35 800213951 VARGAS PABLO A 2938 SEYMOUR AVENUE BRONX NY 10469 34,500.00
49 BSC35 800216277 CLARK ELIZABETH R 22 PARTRIDGE DRIVE COMMACK NY 11725 69,500.00
49 BSC35 800236739 OHW SUNG 74-33 44TH AVENUE ELMHURST NY 11373 60,000.00
49 BSC35 800243909 CHATT MARGO SERITA 130 PROSPECT STREET CHESTERTOWN MD 21620 46,700.00
49 BSC35 800247306 PEMBERTON PATRICIA 129 RYERSON STREET BROOKLYN NY 11205 153,000.00
49 BSC35 800250797 DESALVO JOSEPH J 73 BOBWHITE LANE HICKSVILLE NY 11801 42,000.00
49 BSC35 800254955 KIM DONG HYUN 15 EXECUTIVE DRIVE MANHASSET NY 11040 112,500.00
49 BSC35 800270597 DIXON KATHERINE 436 36 ST BROOKLYN NY 11232 78,500.00
49 BSC35 800270746 MILLER KEITH 100 CUNNINGHAM AVE UNIONDALE NY 11553 30,400.00
49 BSC35 800272494 PATRIDGE KEITH L 442 SUMNER WAY WEST CHESTER PA 19382 50,468.00
49 BSC35 800279168 CORTIMIGLIA CHARLES 10 CLYDSEDALE CT NEW CITY NY 10956 30,000.00
49 BSC35 800280232 BANNISTER LISA R 4223 DIGNEY AVENUE BRONX NY 10460 132,000.00
49 BSC35 800283723 SUKHDEO SHARDA K 94 06 211TH STREET QUEENS VILLAGE NY 11428 23,000.00
49 BSC35 800286197 BENNETT SANDRA T 17771 MYRTLE LAKE DRIVE MIAMI FL 33056 18,000.00
49 BSC35 800287427 PALUMBO NICOLE A 168 RUTLEDGE AVENUE HAWTHORNE NY 10532 31,000.00
49 BSC35 800288490 BROWDER JOSEPH E 4470 TRANSPORT ROAD BARTOW FL 33830 54,000.00
49 BSC35 800290215 ABBATE BERNADETTE 14 SHELBOURNE LANE COMMACK NY 11725 30,000.00
49 BSC35 800292377 MAZZONE JOSEPH 608 BAYLOR AVENUE RIVER VALE NJ 07675 40,000.00
49 BSC35 800293516 SANDERS GENE 18214 N 68TH AVENUE GLENDALE AZ 85308 36,000.00
49 BSC35 800295180 BURACK JEDIDIAH 1327 PACIFIC STREET BROOKLYN NY 11216 161,000.00
49 BSC35 800296105 DE ROSE JOSEPH 199 MIDLAND AVE GARFIELD NJ 07026 120,000.00
49 BSC35 800296980 LEONARD BRIAN 652 NORTH DYRE AVENUE WEST ISLIP NY 11795 18,750.00
49 BSC35 800297269 VAN NIEKERK ADRIAAN 591 SOUTH PENNSYLVANIA ST DENVER CO 80209 63,500.00
49 BSC35 800298812 STEINHART JOSEPH J 23437 N 39TH LANE GLENDALE AZ 85310 14,856.00
49 BSC35 800299281 BATES THOMAS L 10730 WINDING MEADOW DRIVE KIOWA CO 80117 48,859.00
49 BSC35 800300147 HAYNES GERALDINE 465 JEFFERSON AVENUE BROOKLYN NY 11221 127,500.00
49 BSC35 800302788 HENRY GEORGE S 479 LEXINGTON AVENUE BROOKLYN NY 11221 153,000.00
49 BSC35 800302796 DEKYI FREMLIN Y 220-15 94TH AVENUE QUEENS VILLAGE NY 11428 157,250.00
49 BSC35 800305401 HUNTER EDIE 244 GLADYS COURT COPELAND FL 34137 23,100.00
49 BSC35 800305625 OGLETREE ELONZY 2967 FLAT SHOALS ROAD DECATUR GA 30034 18,000.00
49 BSC35 800305849 BEGLEY BERNARD 7 YONKERS TERRACE YONKERS NY 10704 50,200.00
49 BSC35 800307779 ADKINS ALAN J 166 NORTH OAKLAND GROVE ELMHURST IL 60126 20,000.00
49 BSC35 800309247 HILSHER BARRY D 100 JULIE ANN COURT EPHRATA PA 17522 16,300.00
49 BSC35 800309411 CHAPMAN MARY E. 5302 ELSRODE AVE BALTIMORE MD 21214 22,500.00
49 BSC35 800309817 COMEGNA LISA A 995 EAST PROSPECT STREET WOODMERE NY 11598 249,999.00
49 BSC35 800311284 GATES DEBORAH GENE 5250 FRISCO COURT SE SALEM OR 97306 25,000.00
49 BSC35 800312456 LOUNNIVONGSA PAUL 3250 WEST 93RD AVENUE WESTMINSTER CO 80030 56,820.00
49 BSC35 800314775 SANTOS G. JASON 4 FREMONT STREET PLYMOUTH MA 02360 135,000.00
49 BSC35 800315061 GUNNING MICHAEL E 2100 TROTTER ROAD LARGO FL 33774 37,610.00
49 BSC35 800316275 LEUNG SUI FU 133-13 BLOSSOM AVENUE FLUSHING NY 11355 75,000.00
49 BSC35 800316804 LOVALL LELAND D 6309 OGLETHORPE COURT PORTAGE IN 46368 18,065.00
49 BSC35 800317109 RICHARDS HIRAM E 1003 KESSLER DRIVE SHIPPENSBURG PA 17257 13,340.00
49 BSC35 800318735 LAVOIE THOMAS M 2311 E BUFFALO STREET CHANDLER AZ 85225 22,000.00
49 BSC35 800319394 PANOSSIAN MIHRAN 80-94 SURREY PLACE JAMAICA ESTATES NY 11432 170,000.00
49 BSC35 800320269 BLAASCH CHARLES 1447 S CACTUS ROAD APACHE JUNCTION AZ 85219 17,567.00
49 BSC35 800322299 MARTELL GEORGE E 82 EAST 1340 NORTH OREM UT 84057 47,000.00
49 BSC35 800323123 GRANT TRENNEDY J OLD FARM ROAD LOT 2 DUCHESNE UT 84021 53,800.00
49 BSC35 800323461 FAUST J STEVEN 560 LONG SPIRES ROAD GASTON SC 29053 21,000.00
49 BSC35 800324774 GUST NICK E 6357 SOUTH APRIL MEADOWS D WEST JORDAN UT 84084 32,400.00
49 BSC35 800326183 BROWN FREDERICK 2725 GARRIS LANE JACKSONVILLE FL 32226 44,800.00
49 BSC35 800326860 LUDINGTON RONALD JAY 2104 N VAN NESS AVE TEMPE AZ 85281 15,100.00
49 BSC35 800327090 SHAFFER JEFFREY A HC 1 BOX 78A1 WHITE HAVEN PA 18661 24,500.00
49 BSC35 800328130 HUTCHINS CLAYTON F 6621 HWY 134 ASHEBORO NC 27203 57,000.00
49 BSC35 800329450 JOSEPH ANN 365 EAST 52ND STREET BROOKLYN NY 11203 196,000.00
49 BSC35 800331449 DROST RONALD 35-04 160TH STREET FLUSHING NY 11358 110,000.00
49 BSC35 800332074 GRODOTZ ROBERT E 6549 POMPEI ROAD ORLANDO FL 32822 33,575.00
49 BSC35 800332439 NARUSZEWICZ EUGENE 79 B AVON CIRLCE RYE BROOK NY 10573 126,000.00
49 BSC35 800333320 HOLT DANIEL SHIRL 1058 NORTH 1700 EAST ST GEORGE UT 84770 33,400.00
49 BSC35 800333676 SHIVERS GEORGE 1605 EAST CHELSEA STREET TAMPA FL 33610 20,000.00
49 BSC35 800333759 BAKER RONALD K. 112 NORTH CAROLINA STREET GOLDSBORO NC 27530 55,700.00
<CAPTION>
Cut-off Date First Original Current Scheduled
Pool Sale Principal Payment Maturity Rem Date LTV Mortgage Payment
ID ID Account Balance Date Date Term Due Ratio Rate Int & Prin
- ---------------------------------------------------------------------------------------------------------------------
<C> <C> <S> <C> <C> <C> <C> <C> <C> <C> <C>
49 BSC35 800183253 162,933.83 08/01/97 07/01/12 175.00 01/31/00 84.8 13.550 1,873.44
49 BSC35 800191462 34,659.08 05/23/97 04/23/27 352.70 01/31/00 89.8 10.750 324.85
49 BSC35 800213951 34,008.02 08/07/97 07/07/12 175.17 01/31/00 79.6 13.750 401.96
49 BSC35 800216277 69,500.00 07/01/97 06/01/12 174.00 01/31/00 84.9 13.700 807.01
49 BSC35 800236739 60,000.00 07/25/97 06/25/12 174.77 01/31/00 79.0 15.550 862.47
49 BSC35 800243909 46,405.56 08/01/97 07/01/12 175.00 01/31/00 84.9 13.000 590.87
49 BSC35 800247306 150,946.63 07/27/97 06/27/17 234.84 01/31/00 82.7 12.250 1,711.40
49 BSC35 800250797 41,805.66 08/14/97 07/14/12 175.40 01/31/00 89.7 12.750 524.51
49 BSC35 800254955 112,500.00 09/01/97 08/01/12 176.00 01/31/00 84.4 13.050 1,248.87
49 BSC35 800270597 78,015.23 08/18/97 07/18/12 175.53 01/31/00 89.9 12.550 970.09
49 BSC35 800270746 30,311.29 08/18/97 07/18/17 235.53 01/31/00 89.1 12.750 350.76
49 BSC35 800272494 50,412.83 09/18/97 08/18/12 176.55 01/31/00 85.0 13.350 572.12
49 BSC35 800279168 29,974.38 10/04/97 09/04/12 177.11 01/31/00 73.6 11.900 358.12
49 BSC35 800280232 131,526.37 09/14/97 08/14/12 176.42 01/31/00 80.0 11.650 1,322.31
49 BSC35 800283723 23,000.00 10/19/97 09/19/17 237.60 01/31/00 79.8 13.300 274.39
49 BSC35 800286197 18,000.00 11/17/97 10/17/12 178.52 01/31/00 78.0 13.990 239.59
49 BSC35 800287427 31,000.00 10/22/97 09/22/12 177.70 01/31/00 80.1 14.150 370.99
49 BSC35 800288490 54,000.00 11/01/97 10/01/17 238.00 01/31/00 90.0 11.900 590.83
49 BSC35 800290215 29,936.99 11/03/97 10/03/07 118.06 01/31/00 75.5 11.750 426.09
49 BSC35 800292377 40,000.00 10/19/97 09/19/12 177.60 01/31/00 67.0 11.900 408.37
49 BSC35 800293516 35,988.42 11/01/97 10/01/17 238.00 01/31/00 83.7 10.050 348.60
49 BSC35 800295180 160,884.41 07/02/97 06/02/27 354.02 01/31/00 70.0 10.990 1,532.02
49 BSC35 800296105 119,870.30 10/12/97 09/12/12 177.37 01/31/00 75.0 11.550 1,192.93
49 BSC35 800296980 18,644.73 10/02/97 09/02/12 177.04 01/31/00 84.8 11.990 192.72
49 BSC35 800297269 63,500.00 10/01/97 09/01/12 177.00 01/31/00 82.8 12.750 690.05
49 BSC35 800298812 14,856.00 11/01/97 10/01/12 178.00 01/31/00 89.8 11.800 176.39
49 BSC35 800299281 48,859.00 12/01/97 11/01/12 179.00 01/31/00 84.9 12.000 586.39
49 BSC35 800300147 127,387.26 10/22/97 09/22/12 177.70 01/31/00 75.0 11.650 1,277.23
49 BSC35 800302788 153,000.00 11/01/97 10/01/12 178.00 01/31/00 85.0 10.300 1,376.72
49 BSC35 800302796 156,854.31 10/12/97 09/12/12 177.37 01/31/00 85.0 12.050 1,623.55
49 BSC35 800305401 22,968.39 10/12/97 09/12/12 177.37 01/31/00 70.0 11.750 273.53
49 BSC35 800305625 17,942.56 10/08/97 09/08/17 237.24 01/31/00 41.0 9.900 172.51
49 BSC35 800305849 50,097.19 10/01/97 09/01/12 177.00 01/31/00 84.9 12.500 618.73
49 BSC35 800307779 19,951.73 09/26/97 08/26/17 236.81 01/31/00 78.8 14.350 253.80
49 BSC35 800309247 16,226.40 10/18/97 09/18/12 177.57 01/31/00 89.9 11.350 188.86
49 BSC35 800309411 22,405.43 10/17/97 09/17/12 177.53 01/31/00 73.2 10.150 243.86
49 BSC35 800309817 249,999.00 10/23/97 09/23/12 177.73 01/31/00 81.9 12.800 2,726.46
49 BSC35 800311284 25,000.00 10/01/97 09/01/17 237.00 01/31/00 77.1 14.350 317.26
49 BSC35 800312456 56,820.00 12/01/97 11/01/12 179.00 01/31/00 84.8 11.750 573.55
49 BSC35 800314775 135,000.00 11/01/97 10/01/12 178.00 01/31/00 90.0 10.000 1,184.72
49 BSC35 800315061 37,610.00 11/01/97 10/01/12 178.00 01/31/00 84.8 12.350 397.02
49 BSC35 800316275 74,615.26 10/22/97 09/22/12 177.70 01/31/00 71.4 12.500 924.39
49 BSC35 800316804 18,053.47 11/06/97 10/06/12 178.16 01/31/00 83.1 11.550 211.61
49 BSC35 800317109 13,205.62 10/15/97 09/15/07 117.47 01/31/00 89.9 11.000 183.76
49 BSC35 800318735 22,000.00 10/12/97 09/12/12 177.37 01/31/00 86.0 12.200 229.69
49 BSC35 800319394 169,783.56 11/03/97 10/03/12 178.06 01/31/00 79.9 10.500 1,879.18
49 BSC35 800320269 17,564.69 11/01/97 10/01/12 178.00 01/31/00 84.9 12.100 211.96
49 BSC35 800322299 47,000.00 11/01/97 10/01/12 178.00 01/31/00 84.8 10.150 509.39
49 BSC35 800323123 53,800.00 11/01/97 10/01/12 178.00 01/31/00 79.9 13.650 622.59
49 BSC35 800323461 20,973.09 11/01/97 10/01/12 178.00 01/31/00 60.0 11.750 248.67
49 BSC35 800324774 31,966.51 09/01/97 08/01/12 176.00 01/31/00 77.1 14.150 387.75
49 BSC35 800326183 44,779.94 10/02/97 09/02/12 177.04 01/31/00 80.0 13.350 577.18
49 BSC35 800326860 15,009.87 11/01/97 10/01/12 178.00 01/31/00 84.9 12.000 181.23
49 BSC35 800327090 24,446.94 11/01/97 10/01/12 178.00 01/31/00 79.6 11.850 291.68
49 BSC35 800328130 57,000.00 11/01/97 10/01/12 178.00 01/31/00 59.3 9.250 586.64
49 BSC35 800329450 195,943.80 09/22/97 08/22/27 356.68 01/31/00 80.0 11.500 1,940.97
49 BSC35 800331449 110,000.00 11/13/97 10/13/12 178.39 01/31/00 80.8 12.850 1,203.94
49 BSC35 800332074 33,344.06 10/16/97 09/16/12 177.50 01/31/00 85.0 12.250 408.37
49 BSC35 800332439 126,000.00 10/12/97 09/12/12 177.37 01/31/00 80.0 14.500 1,542.95
49 BSC35 800333320 33,400.00 11/01/97 10/01/17 238.00 01/31/00 83.6 14.250 421.41
49 BSC35 800333676 19,944.53 11/08/97 10/08/12 178.22 01/31/00 63.2 10.150 216.76
49 BSC35 800333759 55,625.13 10/12/97 09/12/12 177.37 01/31/00 71.4 10.400 505.35
</TABLE>
<PAGE>
<TABLE>
Page 2
ALLIANCE FUNDING
A division of Superior Bank FSB
Sale Schedule -- Group 1, Sub Pool II
1997-4 Class 1 -- Initial of Fixed Rate Mortgages -- Settlement 12/22/97
<CAPTION>
Principal
Pool Sale Zip Balance at
ID ID Account Name Address City State Code Origination
- ------------------------------------------------------------------------------------------------------------------------------------
<C> <C> <S> <C> <C> <C> <C> <C> <C>
49 BSC35 800334781 DECKER WILLIAM E JR. 5 WHITE BIRCH LANE SARANAC LAKE NY 12983 249,900.00
49 BSC35 800335929 BECKER JOAN M 23 ST JOHNS DRIVE WILMINGTON DE 19808 15,000.00
49 BSC35 800337198 SINGLETARY THEODORE 405 BAINBRIDGE STREET BROOKLYN NY 11233 22,180.00
49 BSC35 800337248 TAYLOR KRIS V O 4158 AMES STREET DENVER CO 80212 70,100.00
49 BSC35 800337446 GREENLEY VICTOR S RD 1 BOX 307 ELLENDALE DE 19941 39,500.00
49 BSC35 800337594 PAOLELLO JUDITH A 280 THROGS NECK BOULEVARD BRONX NY 10465 40,500.00
49 BSC35 800339707 DEEBLE MONTE ROBERT 3543 EAST MONTE VISTA DRIV TUCSON AZ 85716 11,800.00
49 BSC35 800339863 SPEARLINE NANCY D 3815 SHEPARD ROAD GIBSONIA PA 15044 18,200.00
49 BSC35 800342297 EMMANOUILIDI GEORGE 2 CHEVIOT ROAD SOUTHAMPTON NY 11968 100,000.00
49 BSC35 800343402 DELGADO ALFREDO 169 FULTON STREET POUGHKEEPSIE NY 12601 14,700.00
49 BSC35 800344384 RAJKUMAR ROBIN 178A STUYVESANT AVENUE BROOKLYN NY 11221 160,000.00
49 BSC35 800344418 ELIASON DEAN J. 8570 SOUTH 440 EAST SANDY UT 84070 71,692.00
49 BSC35 800345183 BUZZARD CLAYTON T 328 THORNWOOD WAY LAKELAND FL 33813 18,449.00
49 BSC35 800347692 GANCI STEPHEN 2771 MAYFIELD PLACE NORTH BELLMORE NY 11710 37,000.00
49 BSC35 800347866 TORGERSEN ROSEMARY 2 ACORN PATH EAST QUOGUE NY 11942 65,000.00
49 BSC35 800348500 SMITH LAWRENCE A 166 COVERT STREET BROOKLYN NY 11207 157,500.00
49 BSC35 800349193 BURDICK KENNETH L 9 STONE STREET DANBURY CT 06810 38,000.00
49 BSC35 800349524 AIELLO GEORGE D 9 KELLOGG STREET BETHEL CT 06801 157,500.00
49 BSC35 800349805 MEDINA ALFONSO M 253 THIRD STREET LEBANON OR 97355 50,000.00
49 BSC35 800350118 MIRESSI DONALD 203 JOCKEY HOLLOW ROAD MONROE CT 06468 27,000.00
49 BSC35 800350209 NICHOLSON DESMOND 147-19 111TH AVENUE JAMAICA NY 11435 28,500.00
49 BSC35 800350308 O'CALLAGHAN J. BRIEN 54 PLUMTREES ROAD BETHEL CT 06801 124,600.00
49 BSC35 800350316 OSWALD RALPH E. 1017 NORTH ONTARIO AVENUE LINDENHURST NY 11757 34,800.00
49 BSC35 800350373 WALTERS DANIEL LEE 120 EAST COOPER AVENUE FOLLY BEACH SC 29439 190,000.00
49 BSC35 800350423 HARRIS ELBERT E 833 BISCHEL STREET LABELLE FL 33975 42,000.00
49 BSC35 800351900 TEERLINK JUDY L 1102 EAST PHEASANT VIEW DR FRUIT HEIGHTS UT 84037 48,900.00
49 BSC35 800352890 JOHNSON DAVID WAYNE 1985 WEST 12920 SOUTH RIVERTON UT 84065 11,000.00
49 BSC35 800353146 LENZER WILLIAM R 823 S IRVING AVENUE SCRANTON PA 18505 70,000.00
49 BSC35 800354342 YARBOROUGH WILMA G 2364 SANDSPUR ROAD HARTSVILLE SC 29550 30,400.00
49 BSC35 800354417 TAUB ROBERT J 30 SHERIDAN DRIVE MILTON MA 02186 35,000.00
49 BSC35 800355851 KULPEKSA RONALD 4623 BUSTI DRIVE SARASOTA FL 34232 27,789.00
49 BSC35 800356586 LOCATELLI CARMEN MARIE 144 DOYLE ST SANTA CRUZ CA 95062 59,300.00
49 BSC35 800356917 MUSSELMAN LEE A 616 COMMERCIAL ST UNIT 15 PROVINCETOWN MA 02657 40,000.00
49 BSC35 800358129 MCGOVERN BERNARD P 3 DIANA DRIVE NEW FAIRFIELD CT 06812 39,900.00
49 BSC35 800360265 WADDELL MARCELL A 178-20 SELOVER RD ST ALBANS NY 11434 204,850.00
49 BSC35 800360331 TERJESEN CHRISTINE C 1668 LONGMEADOW ROAD FT MYERS FL 33919 18,000.00
49 BSC35 800360695 JORDAN DONNA RENEE 1402 INMAN COURT NORCROSS GA 30093 19,300.00
49 BSC35 800361255 CHUKALA GEORGE M 958 ITHAN LANE LANGHORNE PA 19047 63,600.00
49 BSC35 800363343 KENNEY JAMES P JR 458 PEACHTREE DRIVE SPRING HILL FL 34608 69,600.00
49 BSC35 800363475 SHEAK-ANDERS LINDA A 128 NORTH FORKLANDING ROAD MAPLE SHADE NJ 08052 25,600.00
49 BSC35 800363673 ROSS WILLIAM 324 ARLINGTON AVENUE BROOKLYN NY 11208 199,750.00
49 BSC35 800364176 MEDCALF DOUGLAS E 14240 CROWN POINT PLACE SILVERDALE WA 98383 52,500.00
49 BSC35 800364507 MAGNUS LEE 99 BLOCK BLVD MASSAPEQUA NY 11762 35,000.00
49 BSC35 800364754 HILL ROBERT J 21 BEVAN STREET IRWIN ID 83428 32,772.00
49 BSC35 800364804 RAMIREZ TED RAYMOND 7447 SOUTH CLARKSON CIRCLE LITTLETON CO 80122 30,500.00
49 BSC35 800365264 TRAUGER JEAN V. 2031 MEADE STREET DENVER CO 80211 25,000.00
49 BSC35 800365363 HEVERIN WADE K SR 580 HAWKEY BRANCH ROAD SMYRNA DE 19977 28,000.00
49 BSC35 800365389 ELDREDGE JAMES E JR 458 WALNUT STREET GLENWILLARD PA 15046 22,500.00
49 BSC35 800365900 SCHLACHTA DAVID 11620 HOMESTEAD LANE FT MYERS FL 33905 35,848.00
49 BSC35 800366460 RIDDLE JAMES W 1337 LOWER RICHLAND BLVD HOPKINS SC 29061 60,750.00
49 BSC35 800367278 LOUDERMILK ROBERT T 5020 LITTLE LAKE COURT ZEPHYRHILLS FL 33541 28,050.00
49 BSC35 800367583 HEALY KENNETH 11 FLOWER LANE CENTEREACH NY 11720 40,000.00
49 BSC35 800368060 SWAN BENJAMIN C 16456 KIWI ROAD GRASS VALLEY CA 95949 28,000.00
49 BSC35 800368268 HEINE WALTER N 144 146 SOUTH HANOVER STRE CARLISLE PA 17013 87,000.00
49 BSC35 800369084 MONDESIR FEDNER 108 SOUTH MAIN STREET NORWALK CT 06859 23,500.00
49 BSC35 800369118 BIRCH KEITH 1613 WEST INDIANA AVENUE SALT LAKE CITY UT 84104 17,421.00
49 BSC35 800369522 YACK GREG L 6120 SOUTH POTOMAC WAY ENGLEWOOD CO 80111 50,000.00
49 BSC35 800369712 SLOSKEY EDWARD S 30 ISLAND ROAD LEVITTOWN PA 19057 27,000.00
49 BSC35 800370231 CHUMLEY CHARLES W 602 HEDGEWOOD LANE DAWSONVILLE GA 30534 26,000.00
49 BSC35 800370249 TIPTON DONALD B 173 SAPP STREET INGLIS FL 34449 63,900.00
49 BSC35 800370710 JOHNSON WILLIAM J 275 WEST 700 SOUTH PAYSON UT 84651 13,600.00
49 BSC35 800371247 NGUYEN NGA THI-KIM 10591 EAST 6TH PLACE AURORA CO 80010 16,645.00
<CAPTION>
Cut-off Date First Original Current Scheduled
Pool Sale Principal Payment Maturity Rem Date LTV Mortgage Payment
ID ID Account Balance Date Date Term Due Ratio Rate Int & Prin
- ---------------------------------------------------------------------------------------------------------------------
<C> <C> <S> <C> <C> <C> <C> <C> <C> <C> <C>
49 BSC35 800334781 249,734.75 11/01/97 10/01/12 178.00 01/31/00 84.7 10.600 2,777.90
49 BSC35 800335929 14,879.93 10/02/97 09/02/12 177.04 01/31/00 85.4 12.350 183.42
49 BSC35 800337198 22,086.76 11/14/97 10/14/12 178.42 01/31/00 84.3 11.750 223.89
49 BSC35 800337248 70,100.00 12/01/97 11/01/27 359.00 01/31/00 78.7 11.350 686.18
49 BSC35 800337446 39,355.48 11/06/97 10/06/12 178.16 01/31/00 89.7 11.650 465.21
49 BSC35 800337594 40,412.21 10/04/97 09/04/12 177.11 01/31/00 90.0 11.900 413.48
49 BSC35 800339707 11,800.00 12/01/97 11/01/12 179.00 01/31/00 65.4 11.700 139.35
49 BSC35 800339863 18,200.00 11/06/97 10/06/17 238.16 01/31/00 90.0 11.550 194.72
49 BSC35 800342297 99,962.33 11/01/97 10/01/17 238.00 01/31/00 75.5 11.000 1,032.19
49 BSC35 800343402 14,318.37 06/01/97 05/01/07 113.00 01/31/00 79.8 13.990 228.15
49 BSC35 800344384 160,000.00 11/06/97 10/06/12 178.16 01/31/00 80.0 11.750 1,615.06
49 BSC35 800344418 70,856.32 10/01/97 09/01/12 177.00 01/31/00 84.7 13.200 804.28
49 BSC35 800345183 18,333.24 11/03/97 10/03/12 178.06 01/31/00 80.0 13.200 235.86
49 BSC35 800347692 36,811.59 11/01/97 10/01/17 238.00 01/31/00 79.6 14.650 477.67
49 BSC35 800347866 64,693.27 11/14/97 10/14/12 178.42 01/31/00 38.2 8.900 655.41
49 BSC35 800348500 157,500.00 10/16/97 09/16/12 177.50 01/31/00 90.0 12.300 1,656.53
49 BSC35 800349193 38,000.00 11/01/97 10/01/12 178.00 01/31/00 83.2 12.850 477.05
49 BSC35 800349524 157,500.00 11/01/97 10/01/12 178.00 01/31/00 74.9 12.350 1,662.62
49 BSC35 800349805 50,000.00 11/01/97 10/01/12 178.00 01/31/00 86.7 10.900 565.16
49 BSC35 800350118 27,000.00 11/06/97 10/06/17 238.16 01/31/00 89.7 12.800 312.49
49 BSC35 800350209 28,500.00 11/03/97 10/03/17 238.06 01/31/00 80.0 13.150 336.95
49 BSC35 800350308 124,178.48 10/17/97 09/17/17 237.53 01/31/00 79.9 10.850 1,273.41
49 BSC35 800350316 34,502.48 11/01/97 10/01/12 178.00 01/31/00 89.7 11.800 413.19
49 BSC35 800350373 189,729.61 10/23/97 09/23/17 237.73 01/31/00 59.3 10.050 1,839.84
49 BSC35 800350423 41,844.58 11/06/97 10/06/17 238.16 01/31/00 80.0 11.400 445.01
49 BSC35 800351900 48,855.34 11/06/97 10/06/17 238.16 01/31/00 89.7 11.400 518.12
49 BSC35 800352890 11,000.00 10/23/97 09/23/12 177.73 01/31/00 78.4 15.050 154.33
49 BSC35 800353146 70,000.00 11/20/97 10/20/17 238.62 01/31/00 70.0 9.400 647.93
49 BSC35 800354342 30,363.66 11/10/97 10/10/12 178.29 01/31/00 80.0 10.900 343.62
49 BSC35 800354417 35,000.00 11/07/97 10/07/17 238.19 01/31/00 89.7 10.650 352.97
49 BSC35 800355851 27,789.00 11/17/97 10/17/12 178.52 01/31/00 85.0 11.750 329.06
49 BSC35 800356586 59,041.05 10/19/97 09/19/12 177.60 01/31/00 84.9 12.900 746.40
49 BSC35 800356917 39,928.85 11/15/97 10/15/12 178.45 01/31/00 40.0 9.750 423.75
49 BSC35 800358129 39,900.00 11/01/97 10/01/12 178.00 01/31/00 89.9 12.800 435.14
49 BSC35 800360265 204,850.00 11/02/97 10/02/12 178.03 01/31/00 85.0 12.500 2,186.28
49 BSC35 800360331 18,000.00 11/13/97 10/13/17 238.39 01/31/00 77.3 13.600 218.62
49 BSC35 800360695 19,134.43 10/20/97 09/20/07 117.63 01/31/00 84.9 13.650 295.62
49 BSC35 800361255 63,600.00 11/01/97 10/01/12 178.00 01/31/00 85.9 11.000 605.68
49 BSC35 800363343 69,600.00 11/08/97 10/08/17 238.22 01/31/00 79.0 12.750 803.05
49 BSC35 800363475 25,458.34 09/25/97 08/25/12 176.78 01/31/00 89.7 12.500 273.22
49 BSC35 800363673 199,750.00 11/01/97 10/01/27 358.00 01/31/00 85.0 11.200 1,932.51
49 BSC35 800364176 52,500.00 12/01/97 11/01/12 179.00 01/31/00 88.4 9.400 437.62
49 BSC35 800364507 34,910.67 11/01/97 10/01/17 238.00 01/31/00 78.1 12.600 400.12
49 BSC35 800364754 32,772.00 11/01/97 10/01/12 178.00 01/31/00 90.0 11.550 383.88
49 BSC35 800364804 30,500.00 12/01/97 11/01/17 239.00 01/31/00 89.9 11.400 323.16
49 BSC35 800365264 24,844.17 12/01/97 11/01/12 179.00 01/31/00 71.9 12.950 315.49
49 BSC35 800365363 27,979.86 11/13/97 10/13/12 178.39 01/31/00 90.0 11.300 323.54
49 BSC35 800365389 22,500.00 11/13/97 10/13/12 178.39 01/31/00 79.9 10.050 242.47
49 BSC35 800365900 35,785.67 11/03/97 10/03/07 118.06 01/31/00 79.9 12.250 519.51
49 BSC35 800366460 60,713.49 11/16/97 10/16/17 238.49 01/31/00 90.0 11.400 643.68
49 BSC35 800367278 27,905.24 11/01/97 10/01/07 118.00 01/31/00 85.0 11.900 400.82
49 BSC35 800367583 39,822.52 11/14/97 10/14/12 178.42 01/31/00 84.6 10.550 443.40
49 BSC35 800368060 28,000.00 12/01/97 11/01/12 179.00 01/31/00 80.0 12.850 306.46
49 BSC35 800368268 86,821.84 10/25/97 09/25/12 177.80 01/31/00 48.6 9.000 700.02
49 BSC35 800369084 23,500.00 11/01/97 10/01/12 178.00 01/31/00 89.8 12.500 289.64
49 BSC35 800369118 17,361.12 10/16/97 09/16/12 177.50 01/31/00 90.0 12.450 214.15
49 BSC35 800369522 50,000.00 12/01/97 11/01/12 179.00 01/31/00 63.9 12.000 600.08
49 BSC35 800369712 26,938.01 11/01/97 10/01/12 178.00 01/31/00 87.6 11.150 309.43
49 BSC35 800370231 25,939.81 11/01/97 10/01/12 178.00 01/31/00 84.6 11.050 296.33
49 BSC35 800370249 63,521.89 10/24/97 09/24/17 237.76 01/31/00 90.0 10.950 657.40
49 BSC35 800370710 13,600.00 12/01/97 11/01/12 179.00 01/31/00 85.0 12.500 145.15
49 BSC35 800371247 16,645.00 12/01/97 11/01/12 179.00 01/31/00 75.2 12.350 203.53
</TABLE>
<PAGE>
<TABLE>
Page 3
ALLIANCE FUNDING
A division of Superior Bank FSB
Sale Schedule -- Group 1, Sub Pool II
1997-4 Class 1 -- Initial of Fixed Rate Mortgages -- Settlement 12/22/97
<CAPTION>
Principal
Pool Sale Zip Balance at
ID ID Account Name Address City State Code Origination
- ------------------------------------------------------------------------------------------------------------------------------------
<C> <C> <S> <C> <C> <C> <C> <C> <C>
49 BSC35 800371353 DUFFY ROBERT J 303 ISABELLA ROAD ELVERSON PA 19520 56,700.00
49 BSC35 800371510 TURNER JERRY W 6275 NORTH SANDARIO ROAD TUCSON AZ 85743 64,800.00
49 BSC35 800371833 BUSCHERFELD DONNA J. 3625 EAST GREENWAY LANE PHOENIX AZ 85032 14,517.00
49 BSC35 800371866 MOE CHERECE D 1164 EAST THIRD AVENUE SALT LAKE CITY UT 84103 45,500.00
49 BSC35 800371965 UNREIN DALE ANTHONY 14300 EAST 134TH AVENUE BRIGHTON CO 80601 35,000.00
49 BSC35 800372070 STOCKING TRACY D 2243 SOUTH 2100 EAST SALT LAKE CITY UT 84109 56,750.00
49 BSC35 800372740 SCOTT VINCENT C 1136 WASHINGTON STREET DENVER CO 80203 25,350.00
49 BSC35 800372799 GOSHORN JOHN 6301 LONGHORN TRAIL FT MYERS FL 33905 14,000.00
49 BSC35 800372815 FREITAG THOMAS F 1575 SOUTH KNOX COURT DENVER CO 80219 25,000.00
49 BSC35 800373060 BECKER RODNEY S 7941 YORK STREET UNIT 3 DENVER CO 80229 30,917.00
49 BSC35 800373953 HOWARD WILLIAM G 3514 RIDGE BOULEVARD PALM HARBOR FL 34684 23,400.00
49 BSC35 800374092 LEE MYUNG SOO 72 CARLSON COURT CLOSTER NJ 07624 30,000.00
49 BSC35 800374431 MILLMAN LEONARD V. 3970 MONTHILL AVENUE LAS VEGAS NV 89121 36,200.00
49 BSC35 800376022 VERGARA GLORIA 7076 NATALIE STREET ENGLEWOOD FL 34224 11,900.00
49 BSC35 800376139 CORSO PHILIP P 6607 SOUTH GRANDE DRIVE BOCA RATON FL 33433 73,000.00
49 BSC35 800376147 LIGON MARIE 20 GUSTO LANE ROOSEVELT NY 11575 112,000.00
49 BSC35 800376485 TUHRO GARY L 10286 110TH WAY NORTH LARGO FL 33778 38,000.00
49 BSC35 800376543 LUCAS CRAIG M 261 FOURTH STREET HOBOKEN NJ 07030 336,000.00
49 BSC35 800376568 LOMBARDI JOSEPH 11540 NORTH POTOMAC STREET BRIGHTON CO 80601 55,192.00
49 BSC35 800376725 ACOSTA PRISCILLA L. 8370 EAST 104TH WAY HENDERSON CO 80640 17,500.00
49 BSC35 800377293 HAMMER CLARK 12400 SOUTH 3600 WEST RIVERTON UT 84065 56,000.00
49 BSC35 800377558 HIPPNER SUSAN M 1173 SOUTH DUDLEY STREET LAKEWOOD CO 80232 46,254.00
49 BSC35 800377988 NAGY NICHOLAS 177 HOBBLEBUSH DRIVE MILFORD PA 18337 41,700.00
49 BSC35 800378101 MAY JERRY N 33 HILLSIDE ROAD RINGWOOD NJ 07456 41,000.00
49 BSC35 800378374 HO SONNY 2744 FIELDCREST COURT ORLANDO FL 32839 19,400.00
49 BSC35 800378788 BALDWIN MARY LOU 7500 E BOULDERS PARKWAY # SCOTTSDALE AZ 85262 40,263.00
49 BSC35 800379687 DECKER STEVE R 12618 NORTHEAST 94TH WAY KIRKLAND WA 98033 23,000.00
49 BSC35 800379943 MCCANN ROBERT R 3420 EAST WINESAP SALT LAKE CITY UT 84121 79,473.00
49 BSC35 800380446 BONANNO ROSARIO 79-21 WOODHAVEN BOULEVARD GLENDALE NY 11385 58,750.00
49 BSC35 800380503 BOUDREAU STEVEN G 10 SLOCUM STREET PROVIDENCE RI 02909 13,120.00
49 BSC35 800380792 GONZALES LOUIS M 6624 REED STREET ARVADA CO 80003 28,000.00
49 BSC35 800381105 SEAMAN ELEANOR 2278 ARDENWOOD DRIVE SPRING HILL FL 34609 11,500.00
49 BSC35 800381451 NUNEZ TRENIDAD H 1204 NORTH 18TH STREET IMMOKALEE FL 34142 25,000.00
49 BSC35 800382046 HERRERA KAREN L 1414 SOUTHWEST 13TH TERRAC CAPE CORAL FL 33991 12,931.00
49 BSC35 800382145 SHANTY CLIFFORD 6 LITTLE TROY LANE BALLSTON LAKE NY 12019 25,255.00
49 BSC35 800382509 FREESE RUSSELL D 205 UTAH WAY LEHIGH ACRES FL 33936 20,000.00
49 BSC35 800383085 COVERDALE DELBERT JAMES 704 JASMINE DRIVE LINCOLN DE 19960 15,000.00
49 BSC35 800383291 O'GORMAN TIMOTHY PATRICK 4301 CHERI DRIVE AUBURNDALE FL 33823 26,800.00
49 BSC35 800383721 RINFRET KATHLEEN 99 BOURNEDALE ROAD NORTH MANHASSET NY 11030 426,700.00
49 BSC35 800383853 MUNKRES MARILYN N 2778 HEARTHWOOD LANE COLORADO SPRINGS CO 80917 18,280.00
49 BSC35 800383960 DAVIS SAMUEL A 422 MONO PLACE COLORADO SPRINGS CO 80910 15,700.00
49 BSC35 800384208 KOHLER ROBERT JOHN 7783 SOUTH NEVADA DRIVE LITTLETON CO 80120 23,500.00
49 BSC35 800384372 MORETTO MICHAEL 409 MARSH PLACE SOUTH HIGHLAND LAKES NJ 07422 31,500.00
49 BSC35 800384778 GONDER DANA E 5853 EAST AGAVE PLACE CAREFREE AZ 85377 40,100.00
49 BSC35 800385254 MELLOTT JAMES 379 CHURCH ROAD ORRTANNA PA 17352 39,200.00
49 BSC35 800385429 ALESSANDRO RITA M 68 ROBINSON AVE STATEN ISLAND NY 10312 29,300.00
49 BSC35 800386815 MORGAN SABRINNA L 531 S PERRY STREET DENVER CO 80219 25,000.00
49 BSC35 800387292 LARKIN LINDA 85 FOREST AVENUE LAKE GROVE NY 11755 30,000.00
49 BSC35 800387300 BAILEY SELMA L 20338 XITA AVENUE PORT CHARLOTTE FL 33952 12,500.00
49 BSC35 800387441 JARAMILLO DOUGLAS B 854 NORTH 700 EAST LEHI UT 84043 35,602.00
49 BSC35 800388159 ANDERSON WALTER R 3410 SOUTHWEST 15TH STREET LEHIGH ACRES FL 33971 10,200.00
49 BSC35 800388175 COTA RUBEN O. 8939 XAVIER STREET WESTMINSTER CO 80030 23,900.00
49 BSC35 800388225 RIVERA SATURNINO A 3341 MARSTON ROAD WESTMINSTER MD 21157 55,500.00
49 BSC35 800388423 NEBEL ROBERT 131 RAMONA AVENUE STATEN ISLAND NY 10312 35,000.00
49 BSC35 800388639 STEVENSON FRANK R MILLBROOK ROAD JACKSON CENTER PA 16133 59,250.00
49 BSC35 800388647 LAMORTE ANNE L 43 MCCOUNS LANE OYSTER BAY NY 11771 25,000.00
49 BSC35 800388811 FANCHER DOUGLAS 1008 SUMNER BOULEVARD SAFETY HARBOR FL 34695 10,000.00
49 BSC35 800388829 LICATA GUY 210 NORTH BOSTON AVENUE MASSAPEQUA NY 11758 30,000.00
49 BSC35 800389124 BOWDEN HERMAN 219 CASTLE ROAD LUMBERTON NC 28358 10,000.00
49 BSC35 800389280 LEASURE CHARLES H. 1636 ANASTASIA WAY SOUTH ST PETERSBURG FL 33712 102,600.00
49 BSC35 800390049 HELTON DAN 18500 ORLANDO ROAD FORT MYERS FL 33912 38,550.00
49 BSC35 800390569 DIPPOLITO PAUL M 6170 SOUTH ESMERALDA TERRA LECANTO FL 34461 54,000.00
<CAPTION>
Cut-off Date First Original Current Scheduled
Pool Sale Principal Payment Maturity Rem Date LTV Mortgage Payment
ID ID Account Balance Date Date Term Due Ratio Rate Int & Prin
- ---------------------------------------------------------------------------------------------------------------------
<C> <C> <S> <C> <C> <C> <C> <C> <C> <C> <C>
49 BSC35 800371353 56,690.54 11/06/97 10/06/12 178.16 01/31/00 89.9 11.150 546.40
49 BSC35 800371510 64,800.00 11/01/97 10/01/17 238.00 01/31/00 90.0 12.700 745.38
49 BSC35 800371833 14,517.00 12/01/97 11/01/12 179.00 01/31/00 89.6 11.650 170.97
49 BSC35 800371866 45,500.00 11/01/97 10/01/12 178.00 01/31/00 61.3 10.250 407.73
49 BSC35 800371965 35,000.00 12/01/97 11/01/12 179.00 01/31/00 76.8 12.850 439.39
49 BSC35 800372070 56,728.25 12/01/97 11/01/12 179.00 01/31/00 77.7 12.850 621.12
49 BSC35 800372740 25,253.08 12/01/97 11/01/12 179.00 01/31/00 84.9 12.500 270.55
49 BSC35 800372799 13,987.39 11/06/97 10/06/12 178.16 01/31/00 83.8 10.750 156.93
49 BSC35 800372815 24,885.69 11/01/97 10/01/12 178.00 01/31/00 69.7 10.500 276.35
49 BSC35 800373060 30,721.43 11/01/97 10/01/12 178.00 01/31/00 78.0 12.750 335.97
49 BSC35 800373953 23,400.00 11/07/97 10/07/12 178.19 01/31/00 90.0 11.050 266.70
49 BSC35 800374092 30,000.00 11/16/97 10/16/12 178.49 01/31/00 84.8 13.300 338.91
49 BSC35 800374431 36,200.00 12/01/97 11/01/17 239.00 01/31/00 83.1 12.100 401.12
49 BSC35 800376022 11,875.59 11/06/97 10/06/12 178.16 01/31/00 80.0 12.500 146.67
49 BSC35 800376139 73,000.00 11/08/97 10/08/12 178.22 01/31/00 79.9 11.000 695.20
49 BSC35 800376147 111,878.25 10/23/97 09/23/17 237.73 01/31/00 80.0 10.850 1,144.64
49 BSC35 800376485 37,917.62 11/14/97 10/14/17 238.42 01/31/00 89.9 11.300 400.02
49 BSC35 800376543 336,000.00 11/01/97 10/01/12 178.00 01/31/00 70.0 9.000 2,703.53
49 BSC35 800376568 55,192.00 12/01/97 11/01/12 179.00 01/31/00 69.9 11.000 627.31
49 BSC35 800376725 17,495.89 11/01/97 10/01/12 178.00 01/31/00 89.2 11.800 207.78
49 BSC35 800377293 56,000.00 12/01/97 11/01/12 179.00 01/31/00 79.9 10.600 516.45
49 BSC35 800377558 46,254.00 12/01/97 11/01/12 179.00 01/31/00 85.0 12.000 555.13
49 BSC35 800377988 41,700.00 11/01/97 10/01/12 178.00 01/31/00 89.5 12.600 448.29
49 BSC35 800378101 41,000.00 11/10/97 10/10/12 178.29 01/31/00 80.9 13.750 477.70
49 BSC35 800378374 19,370.13 11/16/97 10/16/12 178.49 01/31/00 84.4 11.750 229.72
49 BSC35 800378788 40,263.00 11/01/97 10/01/12 178.00 01/31/00 84.9 12.100 417.25
49 BSC35 800379687 23,000.00 12/01/97 11/01/12 179.00 01/31/00 85.0 11.850 233.93
49 BSC35 800379943 79,473.00 12/01/97 11/01/12 179.00 01/31/00 75.0 10.350 718.07
49 BSC35 800380446 58,726.36 11/06/97 10/06/17 238.16 01/31/00 85.0 12.500 667.48
49 BSC35 800380503 13,083.61 11/16/97 10/16/12 178.49 01/31/00 75.9 10.150 142.19
49 BSC35 800380792 27,727.96 12/01/97 11/01/12 179.00 01/31/00 70.7 10.850 263.48
49 BSC35 800381105 11,432.45 11/01/97 10/01/17 238.00 01/31/00 55.3 10.550 115.20
49 BSC35 800381451 24,794.51 11/08/97 10/08/17 238.22 01/31/00 60.3 11.990 275.10
49 BSC35 800382046 12,931.00 11/06/97 10/15/12 178.16 01/31/00 84.9 12.500 159.38
49 BSC35 800382145 25,246.44 11/06/97 10/06/12 178.16 01/31/00 84.4 12.500 311.27
49 BSC35 800382509 19,986.26 11/06/97 10/06/12 178.16 01/31/00 85.4 11.400 232.37
49 BSC35 800383085 14,980.73 11/10/97 10/10/12 178.29 01/31/00 70.6 11.500 175.23
49 BSC35 800383291 26,769.92 11/14/97 10/14/12 178.42 01/31/00 71.4 10.990 304.44
49 BSC35 800383721 426,700.00 11/08/97 10/08/12 178.22 01/31/00 85.0 9.650 3,634.71
49 BSC35 800383853 18,198.84 12/01/97 11/01/12 179.00 01/31/00 84.8 12.000 219.39
49 BSC35 800383960 15,700.00 12/01/97 11/01/17 239.00 01/31/00 85.9 11.300 165.27
49 BSC35 800384208 23,500.00 12/01/97 11/01/12 179.00 01/31/00 84.7 11.600 276.02
49 BSC35 800384372 31,500.00 11/06/97 10/06/12 178.16 01/31/00 89.9 12.250 383.13
49 BSC35 800384778 40,100.00 11/01/97 10/01/12 178.00 01/31/00 85.0 12.850 438.89
49 BSC35 800385254 39,200.00 11/15/97 10/15/12 178.45 01/31/00 70.0 14.350 531.29
49 BSC35 800385429 29,270.91 11/02/97 10/02/07 118.03 01/31/00 82.8 13.100 439.21
49 BSC35 800386815 24,865.81 10/26/97 09/26/12 177.83 01/31/00 79.3 10.000 268.65
49 BSC35 800387292 29,955.11 11/20/97 10/20/17 238.62 01/31/00 88.7 11.800 326.15
49 BSC35 800387300 12,481.49 11/20/97 10/20/12 178.62 01/31/00 62.3 12.000 150.02
49 BSC35 800387441 35,544.22 10/17/97 09/17/17 237.53 01/31/00 89.9 12.050 393.25
49 BSC35 800388159 10,156.21 11/03/97 10/03/07 118.06 01/31/00 80.0 11.500 143.41
49 BSC35 800388175 23,900.00 12/01/97 11/01/12 179.00 01/31/00 88.2 11.650 281.48
49 BSC35 800388225 55,500.00 11/08/97 10/08/12 178.22 01/31/00 89.9 10.990 528.12
49 BSC35 800388423 34,873.08 11/14/97 10/14/12 178.42 01/31/00 88.4 11.400 343.93
49 BSC35 800388639 59,250.00 11/07/97 10/07/12 178.19 01/31/00 75.0 12.600 734.13
49 BSC35 800388647 25,000.00 11/10/97 10/10/17 238.29 01/31/00 64.7 11.850 272.66
49 BSC35 800388811 10,000.00 11/01/97 10/01/17 238.00 01/31/00 84.2 12.750 115.38
49 BSC35 800388829 29,970.04 11/08/97 10/08/12 178.22 01/31/00 89.7 12.600 371.71
49 BSC35 800389124 9,969.22 11/01/97 10/01/07 118.00 01/31/00 68.5 10.000 132.15
49 BSC35 800389280 102,600.00 11/06/97 10/06/27 358.16 01/31/00 90.0 8.900 818.17
49 BSC35 800390049 38,550.00 11/14/97 10/14/17 238.42 01/31/00 85.4 12.250 431.21
49 BSC35 800390569 54,000.00 11/01/97 10/01/17 238.00 01/31/00 90.0 11.650 581.46
</TABLE>
<PAGE>
<TABLE>
Page 4
ALLIANCE FUNDING
A division of Superior Bank FSB
Sale Schedule -- Group 1, Sub Pool II
1997-4 Class 1 -- Initial of Fixed Rate Mortgages -- Settlement 12/22/97
<CAPTION>
Principal
Pool Sale Zip Balance at
ID ID Account Name Address City State Code Origination
- ------------------------------------------------------------------------------------------------------------------------------------
<C> <C> <S> <C> <C> <C> <C> <C> <C>
49 BSC35 800391179 WISEMAN MARVIN D 16303 FLAVIAN ROAD BROOKSVILLE FL 34601 12,000.00
49 BSC35 800391229 AHMED SYED JAWWAD 1874 E SAGEBRUSH STREET GILBERT AZ 85296 127,250.00
49 BSC35 800391732 GUADIZ LEON J JR 6900 CORFU BOULEVARD NE BREMERTON WA 98311 36,270.00
49 BSC35 800391807 FORT WILLIAM C 3712 GENERAL PATCH STREET ALBUQUERQUE NM 87111 21,000.00
49 BSC35 800391922 SHUMAN MERVYN M 27170 ZEMAN AVENUE EUCLID OH 44132 23,475.00
49 BSC35 800392110 CIFARELLI JOSEPH F 467 8TH STREET BROOKLYN NY 11215 70,000.00
49 BSC35 800392359 MOLESKY CHRISTOPHE J 25 GREEN ROAD SHAVERTOWN PA 18708 54,000.00
49 BSC35 800392482 HOWARD BRIAN D 28050 BRANDIFF ROAD MYAKKA CITY FL 34251 10,000.00
49 BSC35 800392508 LYNCH KIMBERLY ANN 248 SOUTH WOOD STREET SHAMOKIN PA 17872 18,650.00
49 BSC35 800392573 BYRNE JOHN A. 1 ELIZABETH DRIVE BETHPAGE NY 11714 65,500.00
49 BSC35 800392649 HARPER GARY C 1234 NORTH 700 WEST CLINTON UT 84015 22,830.00
49 BSC35 800392755 PAGNI DONALD J 8324 TEN CENT ROAD LAND O LAKES FL 34639 72,250.00
49 BSC35 800392862 GRITZBACH ROBERT J. 45 NORTH HILL ROAD NORTH HAVEN CT 06473 16,350.00
49 BSC35 800393563 THOMPSON ERNEST L 2468 HULL ROAD KINSTON NC 28501 20,500.00
49 BSC35 800393902 SHERWOOD ANNE 5304 228TH STREET SW MOUNTLAKE TERRACE WA 98043 11,900.00
49 BSC35 800395303 GODETTE TROY L 1511 EDNOR RD SILVER SPRING MD 20905 58,000.00
49 BSC35 800396061 ROWE HARRY W JR 8 NANCY MAE AVENUE PROSPECT CT 06712 38,000.00
49 BSC35 800396160 LASATER PATRICIA ANN 214 EAST 1700 SOUTH SALT LAKE CITY UT 84115 11,500.00
49 BSC35 800397010 VAN AALTEN KATHRYN E 15263 NEWPORT ROAD CLEARWATER FL 34624 19,500.00
49 BSC35 800397705 KARWOWSKI KENNETH R 322 STEINBACH STREET CLARITON PA 15025 32,500.00
49 BSC35 800398257 STOCKHAM LARRY L 425 ZANTE WAY LOCHBUIE CO 80601 14,271.00
49 BSC35 800398356 DUTTON KENDALL M 290 WEST 100 SOUTH EPHRAIM UT 84627 31,200.00
49 BSC35 800398380 SWEET GLEN H 22903 54TH AVENUE WEST MOUNTLAKE TERRACE WA 98043 15,921.00
49 BSC35 800399040 DURAN AURELINDA R 343-345 LAUREL HILL AVE PROVIDENCE RI 02907 68,000.00
49 BSC35 800399057 WALIGORA BRUCE CHARLES 2321 KINGS LAKE BOULEVARD NAPLES FL 34112 31,250.00
49 BSC35 800399123 ROUSSEAU GREGORY C 6847 SOUTH MULLIEN DRIVE WEST JORDAN UT 84084 17,000.00
49 BSC35 800399636 GREEN WILLIAM J 13407 PARKWOOD STREET HUDSON FL 34669 49,300.00
49 BSC35 800399974 WAGNER CAROL M 873 52ND AVENUE NORTH ST PETERSBURG FL 33703 21,320.00
49 BSC35 800400046 SOKO VICTORIA F 611 LEXINGTON AVE BROOKLYN NY 11221 32,000.00
49 BSC35 800400525 KNAUSS GERALD F 4922 DURASNO COURT COLORADO SPRINGS CO 80911 29,000.00
49 BSC35 800400707 GREGORY VERONICA A 13036 BIRCH DRIVE THORNTON CO 80241 27,750.00
49 BSC35 800400822 ROTHMAN STEPHANIE Y 1679 CHALCEDONY & 4774 JEW SAN DIEGO CA 92109 25,740.00
49 BSC35 800402042 BUTLER ALPHONSO 533-535 27TH AVENUE SOUTH ST PETERSBURG FL 33705 37,800.00
49 BSC35 800403214 SINGER LINDA N. 410 3RD AVENUE SEASIDE OR 97138 145,000.00
49 BSC35 800403743 BROWN STEVEN W 21043 MEEHAN AVENUE PORT CHARLOTTE FL 33952 13,719.00
49 BSC35 800404444 GRAHAM TIMOTHY J 20733 EAST DORADO PLACE AURORA CO 80015 54,916.00
49 BSC35 800405425 BIDDINGS ANTONIO 497 BARCLAY COURT STONE MOUNTAIN GA 30083 11,500.00
49 BSC35 800407595 BURNEY CORA LEE 1310 SPRUCE STREET SAFTEY HARBOR FL 34695 10,000.00
49 BSC35 800409187 POIRIER CAROLYN A 68 ROGERINE WAY LANDING NJ 07850 33,000.00
49 BSC35 800409773 BUCKLEY STEPHEN C 517 HORIZON DRIVE KENANSVILLE FL 34739 30,000.00
49 BSC35 800410920 JOHNSON LEWIS JR 3626 POND RIDGE COURT EAST JACKSONVILLE FL 32223 15,700.00
49 BSC35 800413957 LUSK LORRAINE D 62 DIGGER ROAD EIGHTY FOUR PA 15330 25,300.00
49 BSC35 800414096 WYLIE JAMES M 9980 SOUTH 1000 WEST SOUTH JORDAN UT 84095 16,852.00
49 BSC35 800414500 SMITH BRENDA 1100 WESTFIELD DRIVE OXON HILL MD 20745 25,000.00
49 BSC35 800415846 GRIDER L MICHAEL 2064-2066 THE MALL CLEARWATER FL 34615 105,000.00
49 BSC35 800416562 MILLER KEVIN 4471 WEST FASSIO CIRCLE WEST VALLEY CITY UT 84120 16,750.00
49 BSC35 800419483 WALKER THURNADEAN 1762 9TH AVENUE SOUTH ST PETERSBURG FL 33712 28,000.00
49 BSC35 800421299 SMITH RANDAL M 5265 WEST 10900 NORTH HIGHLAND UT 84003 35,000.00
49 BSC35 800429789 ROMANO GERALDINE M 405 OLD HAUPPAUGE RD SMITHTOWN NY 11787 405,000.00
49 BSC35D 800329534 SNYDER SCOTT A. 6537 BALDOON DRIVE FAYETTEVILLE NC 28314 13,398.00
49 BSC35D 800353336 COTTLE MICHAEL R. 6474 GADDIS DRIVE FAYETTEVILLE NC 28306 18,700.00
49 BSC35D 800364242 BECKNER MARTHA M. 783 GALLOWAY DRIVE FAYETTEVILLE NC 28303 38,500.00
49 BSC35D 800381113 CULLINS MAVIS OUTLAW 802 KETCH COURT KURE BEACH NC 28428 29,800.00
49 SB100 661552190 TRAYLOR THELMA 4703 WEST ERIE STREET CHICAGO IL 60644 25,600.00
49 SB100 661558098 LEVIN ALLEN C 1558 ESTATE LANE LAKE FOREST IL 60045 161,000.00
49 SB100 661562934 DENIC VELJKO 3938 NORTH OLEANDER AVENUE CHICAGO IL 60634 48,450.00
49 SB100 661563510 KNISKERN SCOTT L 490 ST MARYS PARKWAY BUFFALO GROVE IL 60089 22,000.00
49 SB100 661566307 RUIZ JOSE G 25 WEST 331 HIGHVIEW NAPERVILLE IL 60563 20,000.00
49 SB100 661567644 KLEESPIES DAVID B 1901 BRUNING DRIVE WILMINGTON IL 60481 18,500.00
49 SB100 661567875 BERG ANTHONY K 163 LEXINGTON PARKWAY S ST. PAUL MN 55105 42,300.00
49 SB100 661568139 ATANGA MELVINA A 126 CLAREMONT AVENUE MOUNT VERNON NY 10550 43,150.00
49 SB100 661569202 ROCHA BERTHA 2132 NORTH SPAULDING CHICAGO IL 60647 40,000.00
<CAPTION>
Cut-off Date First Original Current Scheduled
Pool Sale Principal Payment Maturity Rem Date LTV Mortgage Payment
ID ID Account Balance Date Date Term Due Ratio Rate Int & Prin
- ---------------------------------------------------------------------------------------------------------------------
<C> <C> <S> <C> <C> <C> <C> <C> <C> <C> <C>
49 BSC35 800391179 11,957.32 11/10/97 10/10/12 178.29 01/31/00 33.3 10.700 134.14
49 BSC35 800391229 127,250.00 12/01/97 11/01/27 359.00 01/31/00 84.9 12.850 1,392.73
49 BSC35 800391732 36,270.00 12/01/97 11/01/12 179.00 01/31/00 88.9 11.300 419.10
49 BSC35 800391807 20,973.58 11/01/97 10/01/12 178.00 01/31/00 85.0 11.600 246.66
49 BSC35 800391922 23,432.20 11/20/97 10/20/17 238.62 01/31/00 84.5 11.750 254.40
49 BSC35 800392110 70,000.00 11/15/97 10/15/12 178.45 01/31/00 61.0 10.500 640.32
49 BSC35 800392359 54,000.00 11/06/97 10/06/12 178.16 01/31/00 85.0 11.750 545.08
49 BSC35 800392482 9,958.94 11/14/97 10/14/12 178.42 01/31/00 85.0 12.500 123.25
49 BSC35 800392508 18,650.00 11/20/97 10/20/12 178.62 01/31/00 78.8 14.000 220.98
49 BSC35 800392573 65,500.00 11/14/97 10/14/17 238.42 01/31/00 85.0 13.250 779.08
49 BSC35 800392649 22,830.00 12/01/97 11/01/12 179.00 01/31/00 89.9 10.800 213.97
49 BSC35 800392755 72,109.88 11/06/97 10/06/12 178.16 01/31/00 85.0 10.150 783.05
49 BSC35 800392862 16,338.06 11/20/97 10/20/17 238.62 01/31/00 79.9 12.600 186.91
49 BSC35 800393563 20,489.86 11/20/97 10/20/12 178.62 01/31/00 84.9 12.000 246.03
49 BSC35 800393902 11,844.68 11/01/97 10/01/12 178.00 01/31/00 90.0 11.150 114.68
49 BSC35 800395303 57,917.45 11/06/97 10/06/12 178.16 01/31/00 84.8 12.250 705.45
49 BSC35 800396061 38,000.00 11/06/97 10/06/12 178.16 01/31/00 72.6 13.200 426.30
49 BSC35 800396160 11,500.00 12/01/97 11/01/17 239.00 01/31/00 88.3 11.800 125.03
49 BSC35 800397010 19,369.82 11/15/97 10/15/12 178.45 01/31/00 84.9 11.750 196.83
49 BSC35 800397705 32,465.75 11/06/97 10/06/12 178.16 01/31/00 80.5 10.300 355.24
49 BSC35 800398257 14,271.00 12/01/97 11/01/12 179.00 01/31/00 84.8 13.250 182.92
49 BSC35 800398356 31,200.00 12/01/97 11/01/12 179.00 01/31/00 65.0 12.800 390.66
49 BSC35 800398380 15,921.00 12/01/97 11/01/12 179.00 01/31/00 85.0 13.100 177.36
49 BSC35 800399040 68,000.00 11/16/97 10/16/12 178.49 01/31/00 85.0 11.750 686.40
49 BSC35 800399057 31,250.00 11/20/97 10/20/07 118.62 01/31/00 79.9 13.250 471.22
49 BSC35 800399123 17,000.00 12/01/97 11/01/17 239.00 01/31/00 83.4 10.550 170.30
49 BSC35 800399636 49,188.55 11/14/97 10/14/17 238.42 01/31/00 85.0 9.900 472.49
49 BSC35 800399974 21,302.44 11/14/97 10/14/12 178.42 01/31/00 84.3 12.000 255.88
49 BSC35 800400046 32,000.00 11/23/97 10/23/12 178.72 01/31/00 79.9 12.850 350.24
49 BSC35 800400525 29,000.00 12/01/97 11/01/17 239.00 01/31/00 79.9 13.850 357.47
49 BSC35 800400707 27,750.00 12/01/97 11/01/12 179.00 01/31/00 89.8 11.550 275.87
49 BSC35 800400822 25,740.00 11/08/97 10/08/17 238.22 01/31/00 84.9 11.600 276.27
49 BSC35 800402042 37,800.00 11/06/97 10/06/27 358.16 01/31/00 90.0 10.250 338.73
49 BSC35 800403214 145,000.00 11/13/97 10/13/27 358.39 01/31/00 70.7 9.850 1,256.44
49 BSC35 800403743 13,667.25 11/13/97 10/13/12 178.39 01/31/00 80.0 12.250 166.86
49 BSC35 800404444 54,916.00 12/01/97 11/01/12 179.00 01/31/00 88.9 11.550 545.92
49 BSC35 800405425 11,500.00 11/17/97 10/17/12 178.52 01/31/00 89.9 11.050 131.07
49 BSC35 800407595 9,961.02 11/10/97 10/10/07 118.29 01/31/00 90.0 10.800 136.62
49 BSC35 800409187 33,000.00 11/08/97 10/08/12 178.22 01/31/00 80.3 10.950 374.04
49 BSC35 800409773 29,992.13 11/16/97 10/16/12 178.49 01/31/00 75.0 12.750 374.65
49 BSC35 800410920 15,688.71 11/20/97 10/20/12 178.62 01/31/00 89.7 11.300 181.41
49 BSC35 800413957 25,235.60 11/17/97 10/17/12 178.52 01/31/00 83.9 10.300 276.54
49 BSC35 800414096 16,852.00 11/06/97 10/06/12 178.16 01/31/00 90.0 12.600 208.80
49 BSC35 800414500 25,000.00 11/16/97 10/16/12 178.49 01/31/00 90.0 10.800 234.31
49 BSC35 800415846 104,571.57 11/14/97 10/14/17 238.42 01/31/00 70.0 9.150 954.87
49 BSC35 800416562 16,750.00 12/01/97 11/01/12 179.00 01/31/00 88.7 11.550 166.51
49 BSC35 800419483 27,959.67 11/20/97 10/20/12 178.62 01/31/00 73.6 9.200 287.34
49 BSC35 800421299 35,000.00 12/01/97 11/01/17 239.00 01/31/00 90.0 10.900 358.89
49 BSC35 800429789 405,000.00 11/20/97 10/20/12 178.62 01/31/00 90.0 10.500 3,704.69
49 BSC35D 800329534 13,270.25 10/26/97 09/26/07 117.83 01/31/00 84.9 11.600 189.14
49 BSC35D 800353336 18,638.91 11/17/97 10/17/07 118.52 01/31/00 88.5 10.900 256.54
49 BSC35D 800364242 38,276.29 11/01/97 10/01/12 178.00 01/31/00 44.7 8.900 388.21
49 BSC35D 800381113 29,704.65 11/01/97 10/01/17 238.00 01/31/00 74.7 9.800 283.64
49 SB100 661552190 25,600.00 10/23/97 09/23/27 357.73 01/31/00 33.6 9.900 222.77
49 SB100 661558098 160,981.73 11/10/97 10/10/17 238.29 01/31/00 56.8 10.850 1,645.42
49 SB100 661562934 48,450.00 12/01/97 11/01/12 179.00 01/31/00 84.9 11.000 550.68
49 SB100 661563510 21,987.33 11/17/97 10/17/17 238.52 01/31/00 79.9 13.750 269.59
49 SB100 661566307 20,000.00 11/01/97 10/01/12 178.00 01/31/00 89.2 11.800 202.65
49 SB100 661567644 18,500.00 12/12/97 11/12/17 239.38 01/31/00 69.6 11.050 191.58
49 SB100 661567875 42,300.00 11/22/97 10/22/12 178.68 01/31/00 65.2 10.750 394.86
49 SB100 661568139 43,150.00 12/07/97 11/07/17 239.21 01/31/00 79.6 10.780 438.95
49 SB100 661569202 40,000.00 12/03/97 11/03/27 359.08 01/31/00 28.5 10.000 351.03
</TABLE>
<PAGE>
<TABLE>
Page 5
ALLIANCE FUNDING
A division of Superior Bank FSB
Sale Schedule -- Group 1, Sub Pool II
1997-4 Class 1 -- Initial of Fixed Rate Mortgages -- Settlement 12/22/97
<CAPTION>
Principal
Pool Sale Zip Balance at
ID ID Account Name Address City State Code Origination
- ------------------------------------------------------------------------------------------------------------------------------------
<C> <C> <S> <C> <C> <C> <C> <C> <C>
49 SB100 661569244 WNUK VALENTINE J 29112 CAMPBELL WARREN MI 48093 32,000.00
49 SB100 661570341 WARD DANIEL L 2525 NORTH BAZIL INDIANAPOLIS IN 46219 13,000.00
49 SB100 661571828 HARRIS GEORGE WILLIAM 4920 S WASHINGTON PARK CO CHICAGO IL 60615 83,500.00
49 SB100 661573220 GOODMAN ARTHUR 61 FANCHER ROAD POUND RIDGE NY 10576 50,000.00
49 SB100 661573774 HOYT LAURA J 707 NORTHLAND AVENUE STILLWATER MN 55082 60,000.00
49 SB100 661574251 TREIBER TERRY W 7616 VINE STREET RIVER FOREST IL 60305 31,600.00
49 SB100 661575134 LAMB RUSSELL A 226 HIGHWOOD DRIVE WESTFIELD IN 46074 24,900.00
49 SB100 661575480 HIBMA THOMAS 6023 LAPAZ DRIVE OAK FOREST IL 60452 25,000.00
49 SB100 661578815 SMITH JANET KAY 3605 BOXWOOD DRIVE INDIANAPOLIS IN 46227 43,500.00
49 SB100 661579227 BELTRAN PASCUAL C 6128 NORTH ARTESIAN CHICAGO IL 60659 56,800.00
49 SB100 661579805 GONZALES GEORGE 4909 WEST BLOOMINGDALE CHICAGO IL 60639 16,500.00
49 SB100 661580357 FIELD JAMES 83 WILSON AVENUE MASTIC BEACH NY 11951 33,000.00
49 SB100 661580498 HERNANDEZ ROSA L 3447 WEST 59TH PLACE CHICAGO IL 60629 19,400.00
49 SB100 661580704 STEINMEYER STEVEN E 1395 BLACK OAK TRAIL AURORA IL 60506 16,800.00
49 SB100 661583617 BOUNDS THOMAS E 3000 BUTLER STEGER IL 60475 21,000.00
49 SB100 661584284 JEFFERS JOHN C 2314 NORTH OLD POND LANE ROUND LAKE BEACH IL 60073 15,100.00
49 SB100 661585182 REHM ALBERT 1407 BEVERLY ROUND LAKE BEACH IL 60073 35,000.00
49 SB100 661585372 MIRELES BLAS C 217 14TH AVE NORTH ST. CLOUD MN 56303 10,100.00
49 SB100 661585687 ELLIS ROBERT L 4004 EASTERN DRIVE ANDERSON IN 46012 18,000.00
49 SB100 661586370 SYMMES THOMAS L 4958 CHESTER DRIVE CHESTERFIELD IN 46017 16,500.00
49 SB100 661587055 BURROUGHS HARRY B 533 NORTH AVENUE BARRINGTON IL 60010 74,000.00
49 SB100 661587113 JOHNSON ROBERT A 2220 GRACE STREET BELOIT WI 53511 13,200.00
49 SB100 661587485 WATKINS-STAN LYNETTE D 3608 PEACH GROVE LANE HAZELCREST IL 60429 12,500.00
49 SB100 661588475 PHILLIPS RAYMON W 2973 EAST 130TH STREET CLEVELAND OH 44120 53,600.00
49 SB100 661588541 YOPP JESSIE 20267 ALBANY DETROIT MI 48234 32,700.00
49 SB100 661590943 KIZER CRAIG A 715 BURR OAK DR LAKE ZURICH IL 60047 26,800.00
49 SB100 661592659 OLCHOWKA FRANK S 8708 S 83RD COURT HICKORY HILLS IL 60457 35,000.00
49 SB100 661597658 PRATTS VICTOR F 4510 NW 35TH TERRACE GAINESVILLE FL 32605 28,500.00
49 SB87D 661491472 BROWNELL DONALD E 2444 SW 118TH COURT OLYMPIA WA 98512 31,850.00
49 SB87D 661513663 SAENZ FRANK E 5441 ZUNI STREET DENVER CO 80221 26,000.00
49 SB87D 661520528 MARTINSEN STEWART L 631 MOUNT VERNON CIRCLE MURRAY UT 84107 60,000.00
49 SB98 661509596 WALKER HAROLD 1209 SILVIUS AVENUE SAN PEDRO CA 90731 33,000.00
49 SB98 661510529 TURNBULL ROLAND G 1441 E FLORIAN AVENUE MESA AZ 85204 13,200.00
49 SB98 661513614 DEFAZIO JIM P 12327 NE 100TH PLAC KIRKLAND WA 98033 15,000.00
49 SB98 661518175 NELSON KENNETH R 1374 EAST HARRISON AVENUE SALT LAKE CITY UT 84105 21,500.00
49 SB98 661518688 CHRISTISON DAYLE H 6466 PINEHAVEN ROAD OAKLAND CA 94611 42,000.00
49 SB98 661523019 LESSING RICHARD 612 DOESKIN COURT INCLINE VILLAGE NV 89452 65,000.00
49 SB98 661527721 MROCZENSKI DONALD J 8136 WEST IMPERIAL DRIVE FRANKLIN WI 53132 25,100.00
49 SB98 661529933 MOFFAT VINCENT J 6143 GLENWOOD DRIVE SW OLYMPIA WA 98512 71,150.00
49 SB98 661529966 THOMPSON PAT DIAMOND 8719 EAST WINNSTON CIRCLE MESA AZ 85242 25,000.00
49 SB98 661530899 FLEETWOOD JAMES CRAIG 1393 SOUTH ZENO STREET AURORA CO 80017 29,000.00
49 SB98 661531640 COSS PHILLIP 3132 SOUTH RYBOLT AVENUE INDIANAPOLIS IN 46241 9,800.00
49 SB98 661537142 BIEDER JOEL 167 VERMONT AVENUE OCEANSIDE NY 11572 25,000.00
49 SB98 661537670 PHIELER GARY 715 E MORRIS STREET INDIANAPOLIS IN 46203 39,200.00
49 SB98 661537688 PHIELER GARY J 429 E MORRIS ST INDIANAPOLIS IN 46203 42,000.00
49 SB98 661537860 MOREIRA CLAUDIO 397 SAIRS AVENUE LONG BRANCH NJ 07740 32,000.00
49 SB98 661541060 MILLER CAROL LYNN 6137 MASTER STREET PHILADELPHIA PA 19151 12,600.00
49 SB98 661547604 OVERMAN H COLE 6112 LYMAN AVENUE DOWNERS GROVE IL 60516 71,500.00
49 SB98 661547620 WATERS MILTON M JR 10047 SOUTH EBERHART AVENU CHICAGO IL 60628 27,000.00
49 SB98 661549477 STRINGER CARRIE 5832 SOUTH INDIANA AVENUE CHICAGO IL 60637 78,900.00
49 SB98 661551135 CARPENTER RONALD J 5278 LAHMEYER ROAD FORT WAYNE IN 46835 27,100.00
49 SB98 661551770 COTTRILL RANDALL L 2011 MORRISON AVENUE LAKEWOOD OH 44107 61,000.00
49 SB98 661552786 POLLARD PAMELA ELLERBEE 5439 SOUTH DREXEL AVENUE CHICAGO IL 60615 35,000.00
49 SB98 661553495 CATHEY ROBERT JAMES 16347 S WOODS MARKHAM IL 60426 62,900.00
49 SB98 661555680 BRADLEY SCOTT A 3918 MADISON STREET BELLWOOD IL 60104 21,700.00
49 SB98 661556993 PURALEWSKI TIMOTHY N 1413 MITCHELL TRAIL ELK GROVE VILLAGE IL 60007 33,800.00
49 SB98 661557397 ELDER JAMES A 605 LAFAYETTE STREET AURORA IL 60505 20,000.00
49 SB98 661558478 WALKER ROBERT G 202 N WASHINGTON STREET OCONTO FALLS WI 54154 31,800.00
49 SB98 661558486 FABISIAK DANIEL C 1110 SAWTELL COURT OSHKOSH WI 54901 25,100.00
49 SB98 661558494 GLEASON RODNEY 520 LAKE AVENUE MONTELLO WI 53949 29,400.00
49 SB98 661559088 FEARN SHELIA L 4418 WEST CONGRESS PARKWAY CHICAGO IL 60624 87,200.00
49 SB98 661559385 ZAPATA SYLVIA 6132 S 75TH AVENUE SUMMIT IL 60501 53,000.00
<CAPTION>
Cut-off Date First Original Current Scheduled
Pool Sale Principal Payment Maturity Rem Date LTV Mortgage Payment
ID ID Account Balance Date Date Term Due Ratio Rate Int & Prin
- ---------------------------------------------------------------------------------------------------------------------
<C> <C> <S> <C> <C> <C> <C> <C> <C> <C> <C>
49 SB100 661569244 31,825.35 11/20/97 10/20/17 238.62 01/31/00 56.4 10.825 326.50
49 SB100 661570341 13,000.00 12/05/97 11/05/12 179.15 01/31/00 86.8 11.550 152.28
49 SB100 661571828 83,500.00 12/04/97 11/04/12 179.11 01/31/00 84.1 12.750 907.39
49 SB100 661573220 50,000.00 12/10/97 11/10/17 239.31 01/31/00 46.2 11.725 540.99
49 SB100 661573774 60,000.00 12/18/97 11/18/12 179.57 01/31/00 87.6 11.550 702.82
49 SB100 661574251 31,547.99 11/20/97 10/20/12 178.62 01/31/00 89.9 12.200 383.33
49 SB100 661575134 24,871.43 11/27/97 10/27/12 178.85 01/31/00 79.9 13.500 323.28
49 SB100 661575480 25,000.00 12/17/97 11/17/12 179.54 01/31/00 78.2 10.450 275.58
49 SB100 661578815 43,500.00 12/17/97 11/17/12 179.54 01/31/00 89.2 11.150 498.52
49 SB100 661579227 56,800.00 12/01/97 11/01/17 239.00 01/31/00 89.9 11.700 613.58
49 SB100 661579805 16,500.00 12/04/97 11/04/17 239.11 01/31/00 83.9 12.150 183.41
49 SB100 661580357 33,000.00 12/19/97 11/19/17 239.61 01/31/00 84.1 12.550 376.09
49 SB100 661580498 19,320.08 12/04/97 11/04/12 179.11 01/31/00 89.9 11.550 227.25
49 SB100 661580704 16,800.00 12/07/97 11/07/12 179.21 01/31/00 89.9 11.550 196.79
49 SB100 661583617 21,000.00 12/19/97 11/19/12 179.61 01/31/00 27.6 9.300 216.76
49 SB100 661584284 15,100.00 12/17/97 11/17/17 239.54 01/31/00 84.9 12.150 167.85
49 SB100 661585182 35,000.00 12/17/97 11/17/27 359.54 01/31/00 51.8 10.750 326.72
49 SB100 661585372 10,055.20 12/05/97 11/05/12 179.15 01/31/00 90.0 11.550 118.31
49 SB100 661585687 18,000.00 12/19/97 11/19/12 179.61 01/31/00 86.0 11.550 210.85
49 SB100 661586370 16,500.00 12/17/97 11/17/12 179.54 01/31/00 89.9 11.550 193.28
49 SB100 661587055 74,000.00 12/18/97 11/18/12 179.57 01/31/00 75.4 11.000 841.08
49 SB100 661587113 13,200.00 12/07/97 11/07/12 179.21 01/31/00 88.4 11.550 154.62
49 SB100 661587485 12,500.00 12/17/97 11/17/17 239.54 01/31/00 89.7 11.700 135.03
49 SB100 661588475 53,600.00 12/14/97 11/14/12 179.44 01/31/00 80.0 12.100 555.47
49 SB100 661588541 32,700.00 12/18/97 11/18/12 179.57 01/31/00 69.8 11.850 332.59
49 SB100 661590943 26,800.00 12/19/97 11/19/12 179.61 01/31/00 89.9 12.450 329.44
49 SB100 661592659 35,000.00 12/24/97 11/24/17 239.77 01/31/00 89.5 11.700 378.09
49 SB100 661597658 28,500.00 12/25/97 11/25/17 239.80 01/31/00 84.9 9.820 271.64
49 SB87D 661491472 31,791.35 09/01/97 08/01/12 176.00 01/31/00 79.9 12.875 400.37
49 SB87D 661513663 25,901.67 07/23/97 06/23/12 174.71 01/31/00 89.8 12.250 272.46
49 SB87D 661520528 60,000.00 09/01/97 08/01/12 176.00 01/31/00 89.3 13.000 663.72
49 SB98 661509596 33,000.00 11/01/97 10/01/12 178.00 01/31/00 65.4 10.850 310.53
49 SB98 661510529 13,141.35 11/01/97 10/01/12 178.00 01/31/00 79.1 14.000 175.79
49 SB98 661513614 15,000.00 11/01/97 10/01/12 178.00 01/31/00 79.1 11.250 145.69
49 SB98 661518175 21,500.00 09/01/97 08/01/12 176.00 01/31/00 84.8 12.850 235.31
49 SB98 661518688 41,730.04 10/01/97 09/01/12 177.00 01/31/00 88.6 11.950 430.40
49 SB98 661523019 64,686.80 09/05/97 08/05/17 236.12 01/31/00 40.7 11.550 695.42
49 SB98 661527721 25,085.81 09/27/97 08/27/12 176.84 01/31/00 78.6 11.650 251.44
49 SB98 661529933 70,846.68 10/04/97 09/04/12 177.11 01/31/00 90.0 12.100 858.51
49 SB98 661529966 24,965.04 11/01/97 10/01/12 178.00 01/31/00 73.9 11.600 249.48
49 SB98 661530899 29,000.00 11/01/97 10/01/17 238.00 01/31/00 84.2 10.300 285.64
49 SB98 661531640 9,800.00 11/07/97 10/07/12 178.19 01/31/00 84.9 13.000 108.41
49 SB98 661537142 24,868.82 11/27/97 10/27/07 118.85 01/31/00 83.2 11.450 350.77
49 SB98 661537670 39,200.00 11/09/97 10/09/27 358.26 01/31/00 70.0 10.500 358.58
49 SB98 661537688 42,000.00 11/09/97 10/09/27 358.26 01/31/00 70.0 10.500 384.19
49 SB98 661537860 32,000.00 11/06/97 10/06/17 238.16 01/31/00 62.0 11.150 333.57
49 SB98 661541060 12,484.13 11/06/97 10/06/07 118.16 01/31/00 89.6 11.550 177.51
49 SB98 661547604 71,500.00 11/06/97 10/06/12 178.16 01/31/00 84.8 12.250 869.65
49 SB98 661547620 26,970.30 10/22/97 09/22/12 177.70 01/31/00 78.6 13.600 311.39
49 SB98 661549477 78,833.89 11/01/97 10/01/27 358.00 01/31/00 75.1 9.870 684.84
49 SB98 661551135 27,029.17 11/20/97 10/20/12 178.62 01/31/00 89.9 11.150 310.58
49 SB98 661551770 61,000.00 11/10/97 10/10/27 358.29 01/31/00 64.2 9.500 512.92
49 SB98 661552786 34,946.47 11/02/97 10/02/12 178.03 01/31/00 42.9 9.650 298.14
49 SB98 661553495 62,686.90 11/16/97 10/16/12 178.49 01/31/00 85.0 9.700 664.43
49 SB98 661555680 21,471.67 11/20/97 10/20/12 178.62 01/31/00 84.9 12.350 265.34
49 SB98 661556993 33,800.00 11/03/97 10/03/17 238.06 01/31/00 84.9 12.250 378.07
49 SB98 661557397 19,910.89 11/01/97 10/01/12 178.00 01/31/00 79.8 13.850 264.34
49 SB98 661558478 31,654.43 11/17/97 10/17/12 178.52 01/31/00 84.9 12.350 335.69
49 SB98 661558486 25,100.00 12/01/97 11/01/12 179.00 01/31/00 91.6 11.550 294.01
49 SB98 661558494 29,400.00 11/06/97 10/06/27 358.16 01/31/00 84.2 12.150 305.81
49 SB98 661559088 85,035.95 10/26/97 09/26/27 357.83 01/31/00 80.0 13.100 971.43
49 SB98 661559385 52,818.10 11/01/97 10/01/12 178.00 01/31/00 52.0 12.325 647.21
</TABLE>
<PAGE>
<TABLE>
Page 6
ALLIANCE FUNDING
A division of Superior Bank FSB
Sale Schedule -- Group 1, Sub Pool II
1997-4 Class 1 -- Initial of Fixed Rate Mortgages -- Settlement 12/22/97
<CAPTION>
Principal
Pool Sale Zip Balance at
ID ID Account Name Address City State Code Origination
- ------------------------------------------------------------------------------------------------------------------------------------
<C> <C> <S> <C> <C> <C> <C> <C> <C>
49 SB98 661560151 PALM FREDRIK D 1327 N IDLEWILD ROUND LAKE BEACH IL 60073 21,900.00
49 SB98 661561159 SINGLETON LUCILLE 4022 WEST 21ST PLACE CHICAGO IL 60623 27,000.00
49 SB98 661561787 BAKER JOHN EDMOND 4618 E DICKSON ROAD INDIANAPOLIS IN 46226 20,000.00
49 SB98 661563221 COLSTROM-RAU DEBRA 16653 FOLIAGE AVENUE ROSEMOUNT MN 55068 28,900.00
49 SB98 661563262 HATHAWAY LAURENCE E 1414 ASHLEY DR LEBANON IN 46052 14,500.00
49 SB98 661563593 ZIERK DANIEL P 1727 SOUTH THOMPSON DRIVE WHEATON IL 60187 264,000.00
49 SB98 661565184 THOMAS ANNIE LEE 1839 WEST MARQUETTE CHICAGO IL 60636 20,000.00
49 SB98 661565937 HOOVEN SANDRA J 827 HIGHLAND PARK LORAIN OH 44052 13,000.00
49 SB98 661566224 OSHIN SAMMY K 2719 TURTLE CREEK DRIVE HAZEL CREST IL 60429 18,500.00
49 SB98 661566885 SCHIEBER KEVIN T 1253 226TH AVE NORTHEAST EAST BETHEL MN 55005 15,100.00
49 SB98 661567347 GAZZILLO BARBARA 570 19TH STREET BROOKLYN NY 11218 14,500.00
49 SB98 661567370 HOLLINS ANGELINE T 28 E 113TH STREET CHICAGO IL 60628 56,100.00
49 SB98 661568105 AVILES RAFAEL 417 58TH STREET BROOKLYN NY 11220 35,000.00
49 SB98 661568162 GUTWILLIG GARY 332 RED COACH LN NORTHBROOK IL 60062 98,200.00
49 SB98 661568220 WHITE MAGNOLIA 6241 SOUTH ABERDEEN CHICAGO IL 60621 39,900.00
49 SB98 661569095 SMITH VINCENT 200 SHOTWELL AVENUE STATEN ISLAND NY 10312 19,700.00
49 SB98 661569228 RALEIGH PATRICK G 1476 BUNTS ROAD LAKEWOOD OH 44107 18,000.00
49 SB98 661569285 BEARLUND ROBERT C JR 16963 S MOHICAN DR LOCKPORT IL 60441 118,000.00
49 SB98 661569707 FIGUEROA ANGEL L 2109 NORTH SPAULDING CHICAGO IL 60647 24,000.00
49 SB98 661569731 BLAKER ROBERT J 2411 MEADOW DRIVE ROLLING MEADOWS IL 60008 57,700.00
49 SB98 661572677 KIRCHER MARY GREEN 7031 GOLFVIEW ROAD LAGRANGE IL 60525 47,300.00
49 SB98 661573683 COLLIER BERNARD 10223 SOUTH PROSPECT CHICAGO IL 60643 52,000.00
49 SB98 661574921 PEXA THOMAS E RT 4 BOX 436 NEW PRAGUE MN 56071 36,500.00
49 SB98 661575456 MANGIANTINI JOYCE L 1115 OSTRANDER AVENUE LAGRANGE PARK IL 60526 38,000.00
49 SB98 661577916 USTASZEWSKI JOHN A 4050 S MONTGOMERY PLACE CHICAGO IL 60632 64,000.00
49 SB98 661578146 GOLDSTEIN PETER 847 BONITA AVE ELK GROVE VILLAGE IL 60007 49,400.00
49 SB98 661581538 AMYOTTE ALFRED J 824 3RD STREET CLARKSTON WA 99403 40,000.00
49 SB98 661581546 ABU-SHALANFA YOUSEF A 5155 WEST MELROSE STREET CHICAGO IL 60641 25,400.00
49 SB98 661583278 BURMEISTER JOHN EDWARD 414 SOUTH WALNUT STREET ITASCA IL 60143 22,000.00
49 SB98 661583914 HERBERT JAMES 655 SOUTH KEELER AVENUE MATTESON IL 60443 54,700.00
49 SBC101 800164311 BUTTENSCHON DENNIS 1007 HOPE STREET UTICA NY 13501 23,075.00
49 SBC101 800194441 DEL PLATO DAWN MARIE 20 MAC ARTHUR BLVD HAUPPAUGE NY 11788 35,000.00
49 SBC101 800241820 BOSWELL ERIC 656 OLD BAPTIST ROAD NORTH KINGSTOWN RI 02852 91,500.00
49 SBC101 800256158 SINGH SUKHDEV 18 CLEMENTS AVENUE SCHENECTADY NY 12304 18,850.00
49 SBC101 800277063 JENNER GEORGE H 5305 TURTLE DOVE LAKELAND FL 33810 53,500.00
49 SBC101 800281347 CAMACHO HUMBERTO 808 ELSMERE PLACE BRONX NY 10460 37,000.00
49 SBC101 800283202 HALL LUCILLE 211 EAST 96TH STREET BROOKLYN NY 11236 182,400.00
49 SBC101 800285298 BLACKWELL CHARLES S 5078 THOMPSON MILL ROAD LITHONIA GA 30038 35,000.00
49 SBC101 800286635 STILLER MICHAEL A 950 SOUTH HAZEL COURT DENVER CO 80219 22,500.00
49 SBC101 800287526 MCTURNER GLORIA 7442 EAST CALLE ARTURO TUCSON AZ 85710 12,500.00
49 SBC101 800289787 MROCKOWSKI DOUGLAS P 633 LOCHERN TERRACE BEL AIR MD 21015 14,050.00
49 SBC101 800293011 MANCUSO CARL G 77-79 FARRAGUT AVE PROVIDENCE RI 02905 76,500.00
49 SBC101 800294787 MOLKENTINE CHRIS 232 W 4TH STREET TUCSON AZ 85705 18,000.00
49 SBC101 800298721 CLARKE VENOLA A 18 PINETREE ROAD WESTBURY NY 11590 20,250.00
49 SBC101 800300220 EICHELBERGER EUGENE E 503 WHITE OAK ROAD STRASBURG PA 17579 19,673.00
49 SBC101 800304107 SAWYER CEDRIC R 9 SENTION AVENUE NORWALK CT 06850 18,000.00
49 SBC101 800306466 PAPPIAS JOHN J 11 MARTHA LANE SMITHTOWN NY 11787 50,000.00
49 SBC101 800307282 RIFICE CHRISTINE 5 BAY PLACE BAY SHORE NY 11706 27,900.00
49 SBC101 800308553 SANTILLO LOUIS J 6 MOLLY ONEILL ROAD WALLINGFORD CT 06492 94,000.00
49 SBC101 800314866 STRICKLAND RONNIE J RT 2 BOX 199 HORTENSE GA 31543 42,670.00
49 SBC101 800315699 BISOGNO MARIO F 2426 WEST STREET BROOKLYN NY 11223 53,000.00
49 SBC101 800319857 STROBACH NANCY C 8361 EAST OXFORD DRIVE DENVER CO 80237 28,000.00
49 SBC101 800323990 OLSON STACEY D 10164 EAST COCHISE DRIVE SCOTTSDALE AZ 85258 45,000.00
49 SBC101 800324410 HEAPS GARY BYRON 663 NORTH 650 WEST OREM UT 84057 11,000.00
49 SBC101 800328460 ARMIJO PHILIP E 7650 HOOKER STREET WESTMINSTER CO 80030 33,485.00
49 SBC101 800331142 PIZARO MICHAEL 86 CUNNINGHAM AVENUE UNIONDALE NY 11553 30,000.00
49 SBC101 800331209 COLLINS THOMAS EUGENE 2855 245TH PLACE SE ISSAQUAH WA 98027 67,150.00
49 SBC101 800331993 SIVERTSON JAMES H 248 TINKERTOWN ROAD PLEASANT VALLEY NY 12569 90,000.00
49 SBC101 800332942 TASCO ROBERT J 6323 EAST COCHISE ROAD PHOENIX AZ 85253 49,500.00
49 SBC101 800337040 MARTINEZ KENDRA L 3270 WEST LONGFELLOW PLACE DENVER CO 80221 36,410.00
49 SBC101 800338279 BEIGHLEY TIMOTHY C 143 MT HOPE AVE DOVER NJ 07801 30,300.00
49 SBC101 800342412 BETZLER MARY RODDY 10314 NOLAN DRIVE ROCKVILLE MD 20850 20,300.00
<CAPTION>
Cut-off Date First Original Current Scheduled
Pool Sale Principal Payment Maturity Rem Date LTV Mortgage Payment
ID ID Account Balance Date Date Term Due Ratio Rate Int & Prin
- ---------------------------------------------------------------------------------------------------------------------
<C> <C> <S> <C> <C> <C> <C> <C> <C> <C> <C>
49 SB98 661560151 21,885.55 10/24/97 09/24/12 177.76 01/31/00 79.9 14.000 291.65
49 SB98 661561159 26,977.05 11/13/97 10/13/17 238.39 01/31/00 90.0 11.800 293.54
49 SB98 661561787 20,000.00 10/24/97 09/24/27 357.76 01/31/00 68.8 12.250 209.58
49 SB98 661563221 28,897.62 11/06/97 10/06/12 178.16 01/31/00 79.9 13.350 372.34
49 SB98 661563262 14,495.33 11/08/97 10/08/12 178.22 01/31/00 89.9 11.550 169.85
49 SB98 661563593 264,000.00 11/27/97 10/27/27 358.85 01/31/00 80.0 13.750 3,075.90
49 SB98 661565184 20,000.00 11/01/97 10/01/12 178.00 01/31/00 26.6 11.500 233.64
49 SB98 661565937 12,961.19 11/01/97 10/01/12 178.00 01/31/00 79.9 11.150 148.98
49 SB98 661566224 18,482.26 11/13/97 10/13/17 238.39 01/31/00 89.9 11.600 198.57
49 SB98 661566885 15,048.99 11/07/97 10/07/12 178.19 01/31/00 79.9 13.000 191.05
49 SB98 661567347 14,429.82 11/24/97 10/24/07 118.75 01/31/00 85.7 13.680 222.35
49 SB98 661567370 56,020.16 11/06/97 10/06/17 238.16 01/31/00 85.0 10.050 543.24
49 SB98 661568105 35,000.00 11/29/97 10/29/07 118.92 01/31/00 42.6 9.830 459.24
49 SB98 661568162 98,200.00 11/22/97 10/22/17 238.68 01/31/00 80.9 14.350 1,246.18
49 SB98 661568220 39,844.95 11/16/97 10/16/27 358.49 01/31/00 84.8 9.670 340.46
49 SB98 661569095 19,583.57 11/08/97 10/08/07 118.22 01/31/00 89.9 11.200 273.60
49 SB98 661569228 17,955.46 11/23/97 10/23/17 238.72 01/31/00 85.4 11.425 191.03
49 SB98 661569285 118,000.00 11/01/97 10/01/17 238.00 01/31/00 84.7 13.500 1,424.70
49 SB98 661569707 23,999.09 11/03/97 10/03/17 238.06 01/31/00 80.0 11.150 250.18
49 SB98 661569731 57,684.27 11/13/97 10/13/12 178.39 01/31/00 84.9 11.550 573.60
49 SB98 661572677 47,202.60 11/13/97 10/13/12 178.39 01/31/00 28.6 9.700 499.64
49 SB98 661573683 52,000.00 12/01/97 11/01/12 179.00 01/31/00 79.2 11.000 495.21
49 SB98 661574921 36,500.00 12/01/97 11/01/27 359.00 01/31/00 80.0 11.000 347.60
49 SB98 661575456 37,912.75 11/28/97 10/28/17 238.88 01/31/00 89.6 11.700 410.49
49 SB98 661577916 63,581.53 11/28/97 10/28/12 178.88 01/31/00 80.0 13.250 720.50
49 SB98 661578146 49,362.24 11/22/97 10/22/12 178.68 01/31/00 89.9 11.550 491.09
49 SB98 661581538 40,000.00 12/04/97 11/04/17 239.11 01/31/00 84.7 10.450 398.01
49 SB98 661581546 25,400.00 12/01/97 11/01/17 239.00 01/31/00 86.7 11.200 265.64
49 SB98 661583278 22,000.00 12/11/97 11/11/17 239.34 01/31/00 84.8 11.900 240.71
49 SB98 661583914 54,700.00 12/04/97 11/04/17 239.11 01/31/00 89.9 11.300 575.82
49 SBC101 800164311 22,809.06 06/14/97 05/14/12 173.39 01/31/00 65.0 12.190 279.77
49 SBC101 800194441 34,758.88 08/28/97 07/28/12 175.86 01/31/00 84.2 12.250 425.70
49 SBC101 800241820 91,393.45 07/27/97 06/27/12 174.84 01/31/00 75.0 10.650 847.26
49 SBC101 800256158 18,831.58 10/17/97 09/17/17 237.53 01/31/00 84.5 12.250 210.85
49 SBC101 800277063 53,430.93 08/28/97 07/28/17 235.86 01/31/00 84.9 10.450 532.34
49 SBC101 800281347 37,000.00 12/10/97 11/10/17 239.31 01/31/00 89.6 11.250 388.22
49 SBC101 800283202 182,317.13 11/01/97 10/01/27 358.00 01/31/00 80.0 9.875 1,583.87
49 SBC101 800285298 34,849.80 09/01/97 08/01/17 236.00 01/31/00 59.5 10.750 355.33
49 SBC101 800286635 22,476.11 11/01/97 10/01/12 178.00 01/31/00 73.1 12.350 275.12
49 SBC101 800287526 12,319.85 11/01/97 10/01/12 178.00 01/31/00 84.4 11.800 148.42
49 SBC101 800289787 14,004.36 10/12/97 09/12/12 177.37 01/31/00 83.5 10.300 153.57
49 SBC101 800293011 76,500.00 09/28/97 08/28/12 176.88 01/31/00 90.0 10.650 708.37
49 SBC101 800294787 17,967.56 11/01/97 10/01/12 178.00 01/31/00 79.7 13.000 199.12
49 SBC101 800298721 20,234.21 09/25/97 08/25/12 176.78 01/31/00 76.5 12.450 215.34
49 SBC101 800300220 19,639.23 11/01/97 10/01/12 178.00 01/31/00 80.9 14.650 270.65
49 SBC101 800304107 17,875.59 10/04/97 09/04/12 177.11 01/31/00 82.6 12.850 225.97
49 SBC101 800306466 49,975.89 11/27/97 10/27/12 178.85 01/31/00 77.4 11.000 476.16
49 SBC101 800307282 27,865.28 10/15/97 09/15/12 177.47 01/31/00 86.9 11.250 270.98
49 SBC101 800308553 94,000.00 11/21/97 10/21/12 178.65 01/31/00 84.9 13.300 1,207.95
49 SBC101 800314866 42,635.10 11/01/97 10/01/17 238.00 01/31/00 85.0 13.550 516.73
49 SBC101 800315699 52,728.42 09/18/97 08/18/17 236.55 01/31/00 19.6 14.240 668.33
49 SBC101 800319857 28,000.00 11/01/97 10/01/12 178.00 01/31/00 84.0 12.350 342.38
49 SBC101 800323990 45,000.00 11/01/97 10/01/12 178.00 01/31/00 81.3 12.000 462.88
49 SBC101 800324410 11,000.00 12/01/97 11/01/12 179.00 01/31/00 90.0 11.400 127.80
49 SBC101 800328460 33,485.00 10/01/97 09/01/12 177.00 01/31/00 89.9 11.800 339.28
49 SBC101 800331142 30,000.00 10/04/97 09/04/12 177.11 01/31/00 74.4 13.500 343.63
49 SBC101 800331209 67,150.00 11/01/97 10/01/12 178.00 01/31/00 84.9 12.950 740.19
49 SBC101 800331993 90,000.00 12/11/97 11/11/17 239.34 01/31/00 64.2 9.650 847.75
49 SBC101 800332942 49,500.00 01/01/98 12/01/17 240.00 01/31/00 83.9 11.600 531.30
49 SBC101 800337040 36,410.00 11/01/97 10/01/12 178.00 01/31/00 85.0 10.900 343.99
49 SBC101 800338279 30,300.00 10/10/97 09/10/12 177.30 01/31/00 79.9 14.500 413.75
49 SBC101 800342412 19,736.97 10/23/97 09/23/12 177.73 01/31/00 86.6 11.750 240.38
</TABLE>
<PAGE>
<TABLE>
Page 7
ALLIANCE FUNDING
A division of Superior Bank FSB
Sale Schedule -- Group 1, Sub Pool II
1997-4 Class 1 -- Initial of Fixed Rate Mortgages -- Settlement 12/22/97
<CAPTION>
Principal
Pool Sale Zip Balance at
ID ID Account Name Address City State Code Origination
- ------------------------------------------------------------------------------------------------------------------------------------
<C> <C> <S> <C> <C> <C> <C> <C> <C>
49 SBC101 800345571 KUCHERA JERRY L 605 WEST 24TH STREET FARMINGTON NM 87401 29,800.00
49 SBC101 800345670 FORKEY DENNIS EUGENE 11645 NORTH 57TH AVENUE MINNEAPOLIS MN 55442 27,250.00
49 SBC101 800346108 MILNER MARK W 2384 WEST 710 NORTH PROVO UT 84601 50,944.00
49 SBC101 800347932 JI KUE YEUP 849 MARY CAROLINE DRIVE SAN JOSE CA 95133 58,750.00
49 SBC101 800348567 BARNER WILLIAM A 2206 NORTH 29TH STREET TACOMA WA 98403 78,000.00
49 SBC101 800349490 COIL TROY D 446 SOUTH BEVAN WAY TOOELE UT 84074 18,772.00
49 SBC101 800350282 SMITH RUSSELL RAYMOND 112 MUNFORD COURT LONGS SC 29568 80,000.00
49 SBC101 800350605 CUNNINGHAM MICHAEL J 2470 N 30TH STREET BOISE ID 83703 46,000.00
49 SBC101 800351074 ALTIERI KEVIN R 1044 WHISPERING OAK DRIVE CASTLE ROCK CO 80104 23,369.00
49 SBC101 800351462 SANDVIK KAREN L 104 BLOSSOM FIELD COURT FOUNTAIN CO 80817 36,400.00
49 SBC101 800352957 BROWN JAN P. 1597 WEST 1470 NORTH ST GEORGE UT 84770 15,681.00
49 SBC101 800354359 BARTON ERIC L 1929 DEEP CREEK COURT SPARKS NV 89434 21,000.00
49 SBC101 800355794 LAMDIN-TYLER KIMBERLY 516 WEST LAKE AVENUE WOODLAND PARK CO 80863 14,200.00
49 SBC101 800357501 KATTOUF GEORGE T 224 WINDING KNOLL ROAD ALTOONA PA 16601 54,000.00
49 SBC101 800357659 ANDERSON HENRY J 147 SOUTH 12TH AVENUE MOUNT VERNON NY 10550 65,000.00
49 SBC101 800358814 ALTMAN KEVIN E 346 W MAIN STREET EAU CLAIRE PA 16030 16,000.00
49 SBC101 800361107 THOMAS JENNIFER J 666 SW SHEILA STREET DALLAS OR 97338 24,000.00
49 SBC101 800364937 MILLER CURTIS B 1180 EAST GREEN ROAD FRUIT HEIGHTS UT 84037 46,607.00
49 SBC101 800367138 GREENEBAUM KATHARINE E 2236 PROSSER AVENUE LOS ANGELES CA 90064 63,250.00
49 SBC101 800367435 WHITEHEAD MIRIAM L 4894 SOUTH ROUTT STREET LITTLETON CO 80127 58,500.00
49 SBC101 800368029 CARPENA MARION R 300 EAST MARIPOSA STREET PHOENIX AZ 85012 12,570.00
49 SBC101 800368037 DEMARCO SALVATORE T 2825 EAST HONONEGH DRIVE PHOENIX AZ 85024 13,370.00
49 SBC101 800368573 RUSSO MICHAEL A III 4555 MADISON AVENUE TRUMBULL CT 06611 30,000.00
49 SBC101 800368722 KENNEDY TRINA L 4324 SOUTH 6115 WEST WEST VALLEY CITY UT 84128 28,432.00
49 SBC101 800369217 SUMNER DARRYL A 484 OAK HILL ROAD COVINGTON GA 30209 11,800.00
49 SBC101 800369514 WILLIAMS GRACE A 10900 SW 107 AVE MIAMI FL 33176 26,000.00
49 SBC101 800370090 RICHMOND REID C 505 ELM AVENUE JENKINTOWN PA 19046 35,000.00
49 SBC101 800371114 FIORDALISI MARTHA 39 JUNIPER AVENUE PORT WASHINGTON NY 11050 55,600.00
49 SBC101 800371544 STILLION-ALL KATHLEEN 2516 EAST ELM AVENUE SALT LAKE CITY UT 84109 17,500.00
49 SBC101 800372708 BARBOUR CHARLES 701 SOUTH IRONWOOD SOUTH BEND IN 46615 14,100.00
49 SBC101 800372997 SAPINSKI CAROLE A 1136 WEST EDGEWATER DRIVE GILBERT AZ 85233 17,121.00
49 SBC101 800374449 COE DYANA 1615 CAMINO CRUZ BLANCA RD SANTA FE NM 87505 28,000.00
49 SBC101 800376410 CLAUNCH JON 981 SOUTH 1150 EAST PLEASANT GROVE UT 84062 22,007.00
49 SBC101 800376758 ADDIS RICHARD L 8114 EAST FRANK LANE PRESCOTT VALLEY AZ 86314 62,050.00
49 SBC101 800377897 ERICKSON BRUCE 694 NORTH MAY STREET CHANDLER AZ 85226 15,100.00
49 SBC101 800378655 SPRING DANIEL M 7772 SOUTH SPRUCE STREET ENGLEWOOD CO 80112 26,300.00
49 SBC101 800380800 JOHNSON GREGORY A 7946 68TH AVENUE SE OLYMPIA WA 98513 74,000.00
49 SBC101 800382194 WOOTEN CHARLES W 1675 DOVER STREET BROOMFIELD CO 80020 44,000.00
49 SBC101 800383242 BODLEY RAY E BOX 552 NORTH BEND PA 17760 25,000.00
49 SBC101 800384190 GEORGE JUDITH L 12184 NORTH 123RD WAY SCOTTSDALE AZ 85259 27,500.00
49 SBC101 800384497 SOLVBERG DEBRA L 17116 WEST LAKE GOODWIN RO STANWOOD WA 98292 66,400.00
49 SBC101 800384679 LIMITONE GARY 126 HYDE STREET NEW HAVEN CT 06512 37,300.00
49 SBC101 800385056 MAJOR CHRISTOPHE L 11015 N BROWNSTONE DRIVE PARKER CO 80134 18,000.00
49 SBC101 800385122 LOUGH REGINA M 4028 EAST SHEENA DRIVE PHOENIX AZ 85032 17,400.00
49 SBC101 800386906 QUIROZ HECTOR J 316 MARTHA LANE SIERRA VISTA AZ 85635 14,800.00
49 SBC101 800387391 COLLINS GEORGE B 2700 WEST MEXICO AVENUE DENVER CO 80219 13,000.00
49 SBC101 800387524 GERSHOWITZ MARTIN 11714 NORTH 93RD PLACE SCOTTSDALE AZ 85260 15,150.00
49 SBC101 800387565 MADISON NANCY JO 4716 CALUMET WAY EUGENE OR 97404 22,000.00
49 SBC101 800387938 SAGREDO RICARDO 18417 SNOWBERRY WAY OLNEY MD 20832 60,000.00
49 SBC101 800389454 NIENABER ANN ROBINSON 1227 SUNSET DRIVE CINCINATI OH 45205 19,040.00
49 SBC101 800392276 HEIN CHARLES H 202 JOYCE DRIVE CRANBERRY TWP PA 16066 40,000.00
49 SBC101 800393639 LAWRENCE THOMAS L SR 1931 ARTHUR LAWRENCE DRIVE MCCELLANVILLE SC 29458 49,525.00
49 SBC101 800394157 SUH ALLEN SIWOO 3032 PATUXENT OVERLOOK CT ELLICOTT CITY MD 21042 103,986.00
49 SBC101 800394298 POWELL RONALD R 7674 SOUTH 3530 WEST WEST JORDAN UT 84084 26,518.00
49 SBC101 800397986 GRABHORN JERRY A 1543 MILAN DRIVE SIMI VALLEY CA 93065 32,274.00
49 SBC101 800399743 TREASURE MARTY J 5612 WEST 10930 NORTH HIGHLANDS UT 84003 38,000.00
49 SBC101 800399941 PETERSON KENT GRIER 8342 EAST JULIA STREET TUCSON AZ 85710 30,000.00
49 SBC101 800400483 JOHNSON MICHAEL D 4927 WEST ASPEN PARK DRIVE WEST JORDAN UT 84084 43,754.00
49 SBC101 800400491 FRANCAVILLA MARY L 10576 SUNDANCE MOUNTAIN LITTLETON CO 80127 39,096.00
49 SBC101 800400640 SALAZAR TOM R 13600 SOUTH 7300 WEST RIVERTON UT 84065 12,750.00
49 SBC101 800400657 FORD TERRY L 11689 S OAK MANOR DRIVE SANDY UT 84092 18,946.00
49 SBC101 800402083 CHAGOYEN ROBERTO 735 NORTH GRANJA STREET CLEWISTON FL 33440 35,200.00
<CAPTION>
Cut-off Date First Original Current Scheduled
Pool Sale Principal Payment Maturity Rem Date LTV Mortgage Payment
ID ID Account Balance Date Date Term Due Ratio Rate Int & Prin
- ---------------------------------------------------------------------------------------------------------------------
<C> <C> <S> <C> <C> <C> <C> <C> <C> <C> <C>
49 SBC101 800345571 29,747.88 10/15/97 09/15/12 177.47 01/31/00 78.7 13.350 383.94
49 SBC101 800345670 27,250.00 11/01/97 10/01/17 238.00 01/31/00 85.0 12.750 314.41
49 SBC101 800346108 50,856.57 11/01/97 10/01/12 178.00 01/31/00 84.8 11.600 508.38
49 SBC101 800347932 58,750.00 11/01/97 10/01/12 178.00 01/31/00 85.0 12.400 720.29
49 SBC101 800348567 78,000.00 11/01/97 10/01/12 178.00 01/31/00 84.8 11.850 793.32
49 SBC101 800349490 18,772.00 11/01/97 10/01/12 178.00 01/31/00 85.0 11.850 190.93
49 SBC101 800350282 79,832.75 11/20/97 10/20/12 178.62 01/31/00 88.0 10.700 894.26
49 SBC101 800350605 45,939.92 11/14/97 10/14/12 178.42 01/31/00 78.5 10.500 508.48
49 SBC101 800351074 23,219.45 09/22/97 08/22/12 176.68 01/31/00 87.7 12.200 283.48
49 SBC101 800351462 36,293.29 11/01/97 10/01/17 238.00 01/31/00 82.9 12.000 400.80
49 SBC101 800352957 15,681.00 11/10/97 10/10/17 238.29 01/31/00 89.7 12.950 183.16
49 SBC101 800354359 21,000.00 11/01/97 10/01/12 178.00 01/31/00 86.9 11.150 240.67
49 SBC101 800355794 14,154.55 11/01/97 10/01/12 178.00 01/31/00 84.4 11.350 164.53
49 SBC101 800357501 53,784.94 11/16/97 10/16/17 238.49 01/31/00 72.2 10.900 553.71
49 SBC101 800357659 65,000.00 12/13/97 11/13/12 179.41 01/31/00 40.6 11.350 636.26
49 SBC101 800358814 16,000.00 12/05/97 11/05/07 119.15 01/31/00 53.3 10.900 219.50
49 SBC101 800361107 23,403.29 11/01/97 10/01/12 178.00 01/31/00 84.8 10.400 263.81
49 SBC101 800364937 46,607.00 12/01/97 11/01/12 179.00 01/31/00 83.9 10.300 509.43
49 SBC101 800367138 63,250.00 12/01/97 11/01/12 179.00 01/31/00 80.0 10.750 590.43
49 SBC101 800367435 58,500.00 11/22/97 10/22/17 238.68 01/31/00 84.4 11.400 619.84
49 SBC101 800368029 12,570.00 01/01/98 12/01/12 180.00 01/31/00 85.0 12.400 154.11
49 SBC101 800368037 13,280.82 12/01/97 11/01/12 179.00 01/31/00 90.0 11.650 157.46
49 SBC101 800368573 29,933.22 12/03/97 11/03/12 179.08 01/31/00 67.0 11.350 293.66
49 SBC101 800368722 28,335.19 10/05/97 09/05/12 177.14 01/31/00 90.0 12.600 352.28
49 SBC101 800369217 11,800.00 11/27/97 10/27/12 178.85 01/31/00 89.7 11.550 138.22
49 SBC101 800369514 26,000.00 10/26/97 09/26/12 177.83 01/31/00 84.5 12.650 323.00
49 SBC101 800370090 34,961.27 11/08/97 10/08/17 238.22 01/31/00 78.6 11.000 361.27
49 SBC101 800371114 55,600.00 12/11/97 11/11/12 179.34 01/31/00 75.4 11.800 563.36
49 SBC101 800371544 17,500.00 12/01/97 11/01/12 179.00 01/31/00 89.8 12.100 211.16
49 SBC101 800372708 14,100.00 11/21/97 10/21/17 238.65 01/31/00 89.9 12.450 159.70
49 SBC101 800372997 17,121.00 11/11/97 10/11/12 178.32 01/31/00 85.0 12.650 184.73
49 SBC101 800374449 28,000.00 11/24/97 10/24/12 178.75 01/31/00 57.4 11.800 283.71
49 SBC101 800376410 21,996.94 12/01/97 11/01/12 179.00 01/31/00 89.8 11.400 216.26
49 SBC101 800376758 61,791.14 11/01/97 10/01/17 238.00 01/31/00 85.0 10.400 615.33
49 SBC101 800377897 14,755.93 12/01/97 11/01/12 179.00 01/31/00 75.6 10.400 137.00
49 SBC101 800378655 26,300.00 11/01/97 10/01/12 178.00 01/31/00 90.0 11.300 256.44
49 SBC101 800380800 74,000.00 01/01/98 12/01/12 180.00 01/31/00 83.1 12.100 892.89
49 SBC101 800382194 44,000.00 11/01/97 10/01/12 178.00 01/31/00 73.3 10.250 394.28
49 SBC101 800383242 25,000.00 12/13/97 11/13/12 179.41 01/31/00 62.5 11.550 292.84
49 SBC101 800384190 27,500.00 11/01/97 10/01/12 178.00 01/31/00 84.9 11.800 326.52
49 SBC101 800384497 66,400.00 12/01/97 11/01/17 239.00 01/31/00 79.9 11.750 719.58
49 SBC101 800384679 37,300.00 11/14/97 10/14/12 178.42 01/31/00 83.1 12.400 457.31
49 SBC101 800385056 18,000.00 11/01/97 10/01/17 238.00 01/31/00 88.3 10.900 184.57
49 SBC101 800385122 17,400.00 12/01/97 11/01/12 179.00 01/31/00 80.1 12.900 219.01
49 SBC101 800386906 14,763.70 11/01/97 10/01/12 178.00 01/31/00 69.7 12.100 178.58
49 SBC101 800387391 13,000.00 12/01/97 11/01/12 179.00 01/31/00 89.9 11.650 153.11
49 SBC101 800387524 15,150.00 01/01/98 12/01/12 180.00 01/31/00 84.6 12.100 182.80
49 SBC101 800387565 22,000.00 12/01/97 11/01/17 239.00 01/31/00 83.2 12.000 242.24
49 SBC101 800387938 60,000.00 12/07/97 11/07/12 179.21 01/31/00 83.4 12.000 720.10
49 SBC101 800389454 19,019.27 12/01/97 11/01/27 359.00 01/31/00 70.0 12.950 209.88
49 SBC101 800392276 40,000.00 12/06/97 11/06/12 179.18 01/31/00 80.0 13.750 525.99
49 SBC101 800393639 49,525.00 12/04/97 11/04/17 239.11 01/31/00 70.0 15.500 670.51
49 SBC101 800394157 103,986.00 01/01/98 12/01/27 360.00 01/31/00 85.0 12.100 1,077.62
49 SBC101 800394298 26,518.00 12/01/97 11/01/12 179.00 01/31/00 79.7 13.300 299.57
49 SBC101 800397986 32,274.00 12/01/97 11/01/17 239.00 01/31/00 85.0 12.000 355.36
49 SBC101 800399743 38,000.00 01/01/98 12/01/17 240.00 01/31/00 70.7 13.350 454.71
49 SBC101 800399941 30,000.00 12/01/97 11/01/12 179.00 01/31/00 76.4 13.350 386.51
49 SBC101 800400483 43,754.00 10/24/97 09/24/12 177.76 01/31/00 87.6 12.200 530.76
49 SBC101 800400491 39,096.00 01/01/98 12/01/12 180.00 01/31/00 24.3 12.000 469.22
49 SBC101 800400640 12,750.00 01/01/98 12/01/12 180.00 01/31/00 81.0 10.550 141.33
49 SBC101 800400657 18,946.00 11/27/97 10/27/12 178.85 01/31/00 85.0 12.150 229.22
49 SBC101 800402083 35,200.00 11/17/97 10/17/17 238.52 01/31/00 80.0 12.200 392.51
</TABLE>
<PAGE>
<TABLE>
Page 8
ALLIANCE FUNDING
A division of Superior Bank FSB
Sale Schedule -- Group 1, Sub Pool II
1997-4 Class 1 -- Initial of Fixed Rate Mortgages -- Settlement 12/22/97
<CAPTION>
Principal
Pool Sale Zip Balance at
ID ID Account Name Address City State Code Origination
- ------------------------------------------------------------------------------------------------------------------------------------
<C> <C> <S> <C> <C> <C> <C> <C> <C>
49 SBC101 800402604 BUZZARD BRYAN T 3311 EAST DARTMOUTH STREET MESA AZ 85213 43,800.00
49 SBC101 800403701 DALY DAVID R 5497 WEST 6600 SOUTH WEST JORDAN UT 84084 22,181.00
49 SBC101 800404501 OSCAR MICHAEL A 117-25 143RD ST JAMAICA NY 11436 120,000.00
49 SBC101 800404675 CURITORE THOMAS 53 1/2 HIGHVIEW AVENUE STATEN ISLAND NY 10301 25,000.00
49 SBC101 800405367 WEINGARTEN LEAH 1937 EAST 26TH ST BROOKLYN NY 11229 140,000.00
49 SBC101 800405938 STRAUB TIMOTHY FRAZIER 215-217 BRIGGS STREET HARRISBURG PA 17102 17,900.00
49 SBC101 800406365 HOGAN VELVIN R 306 COLVILLE DRIVE SAN JOSE CA 95123 45,000.00
49 SBC101 800406647 MORGAN WESLEY L 4204 ATHENS AVENUE NEW PORT RICHEY FL 34652 10,000.00
49 SBC101 800406720 STRAUB TIMOTHY FRAZIER 5151 EAST TRINDLE ROAD MECHANICSBURG PA 17055 38,000.00
49 SBC101 800406985 SACKETT JEFFREY C 106 10TH AVENUE EAST SEATTLE WA 98102 26,000.00
49 SBC101 800407066 TROPPLE KENNETH C 2120 EAST LAUREL STREET MESA AZ 85213 18,000.00
49 SBC101 800407611 PADGETT CURTIS L 215 KAMAL PARKWAY CAPE CORAL FL 33904 12,900.00
49 SBC101 800407694 DALESSIO RONALD 72 HUTCHINSON BOULEVARD SCARSDALE NY 10583 91,000.00
49 SBC101 800407918 PARRA ANN MARIE 1647 WEST PECOS MESA AZ 85202 22,561.00
49 SBC101 800408056 VALLEJO ANTONIO 222 SOUTH 16TH AVENUE YAKIMA WA 98902 11,723.00
49 SBC101 800408957 WROBLEWSKI KENNETH ANDRE 5647 E GRANDVIEW STREET MESA AZ 85205 34,000.00
49 SBC101 800409062 ROWE FREDERICK 129-10 107TH AVENUE RICHMOND HILL NY 11419 18,500.00
49 SBC101 800409377 WILSON TIFFANY 22 SECOND AVENUE HEMPSTEAD NY 11566 40,000.00
49 SBC101 800410672 DWIRE SCOTT 3444 NORTH 2650 EAST LAYTON UT 84040 43,000.00
49 SBC101 800411290 SHEPPARD FRANKLIN L JR 16 PENROSE DRIVE SAVANNAH GA 31410 24,000.00
49 SBC101 800412231 LAROCHE JANET 36025 ASTER AVENUE ZEPHYRHILLS FL 33541 20,700.00
49 SBC101 800413429 OSWALT MICHAEL A 232 GARY HALLMAN CIRCLE LEESVILLE SC 29070 25,200.00
49 SBC101 800413635 SAINSBURY RONALD G 70 IRIS AVENUE WEST SENECA NY 14224 30,525.00
49 SBC101 800414393 FORAN SEAN PATRICK 1354 SOUTH 2850 EAST SPANISH FORK UT 84660 13,500.00
49 SBC101 800414443 PAYNE JOHNNY 12600 CATALINA DRIVE LUSBY MD 20657 161,000.00
49 SBC101 800414567 SCHEIDT JOHN C 10299 CR 3197 ARP TX 75750 46,750.00
49 SBC101 800415283 TAYLOR DONALD N 4010 RAVINE DRIVE WHITE PLAINS MD 20695 11,825.00
49 SBC101 800416182 ODONNELL GEORGE V 491 JESSICA LANE BRICK NJ 08724 36,800.00
49 SBC101 800416281 BROWN GARY M 2560 HAMPSTEAD DRIVE LOVELAND CO 80538 37,931.00
49 SBC101 800416588 BOYD MARK DELIN 5183 LOOPER ROAD GRANITE FALLS NC 28630 68,400.00
49 SBC101 800416927 PEARSON HOWARD W 611 SUMMITT STREET WAUCHULA FL 33873 40,200.00
49 SBC101 800417073 LAFRANCA GERARD 141 STUYVESANT DRIVE PORT JEFFERSON STA NY 11776 21,000.00
49 SBC101 800417495 ILACQUA ANTHONY M 654 ALISON CIRCLE LIVERMORE CA 94550 33,100.00
49 SBC101 800418345 TIMOTHY CHARLES 13758 SOUTH 2200 WEST RIVERTON UT 84065 62,081.00
49 SBC101 800418410 LORETH MICHAEL S 4255 CHENANGO DRIVE COLORADO SPRINGS CO 80911 53,144.00
49 SBC101 800418527 CLOUSE STEPHEN F 6721 SOUTHWEST 16TH STREET PLANTATION FL 33317 15,000.00
49 SBC101 800419376 JOHNSON ALETHEA 2009 FULTON STREET BROOKLYN NY 11233 171,000.00
49 SBC101 800419459 MORRIS JANET 2816 STERLING COVE DRIVE LAS VEGAS NV 89128 58,500.00
49 SBC101 800419467 LEONARD GREGORY S 2531 EAST CINNABAR LANE SALT LAKE CITY UT 84121 67,898.00
49 SBC101 800419624 YU LAI KEE 3134 SOUTH CHEROKEE STREET ENGLEWOOD CO 80110 31,245.00
49 SBC101 800420523 RAY SHANNON 4966 SOUTHWEST 166TH COURT OCALA FL 34481 30,400.00
49 SBC101 800420747 VARNUM TERRY WAYNE 4350 SOUTHEAST 150TH ST SUMMERFIELD FL 34491 27,000.00
49 SBC101 800421042 LICHTENBERGE EDWARD G 9109 MEADOWRUN WAY SAN DIEGO CA 92129 39,486.00
49 SBC101 800421307 ROBERTSON THOMAS W II 1013 WEST 1100 NORTH OREM UT 84057 44,336.00
49 SBC101 800421463 HAMPTON FRED 2624 EAST MONTE CRISTO AVE PHOENIX AZ 85032 51,800.00
49 SBC101 800421547 LARSON ERIC J 23308 SHINGLE CREEK ROAD GOLDEN CO 80401 55,000.00
49 SBC101 800421596 WILSON K DEAN RR 2 BOX 204A LADOGA IN 47954 25,000.00
49 SBC101 800421661 TAYLOR JAYNE A 23154 SCHUSSMARK TR #304 OAK CREEK CO 80467 80,000.00
49 SBC101 800422339 HILL CLARA CATHERINE 3612 A SAINT JOHNS COURT WILMINGTON NC 28403 46,900.00
49 SBC101 800423733 MCCULLOUGH WILLIAM E 1410 KINGS ROAD NEWPORT BEACH CA 92663 97,300.00
49 SBC101 800424764 FREEMAN CAROL A 9011 SOUTHBAY DRIVE TAMPA FL 33615 17,200.00
49 SBC101 800424830 DOUD DONALD R 16026 NORTHEAST 105TH CT REDMOND WA 98052 39,500.00
49 SBC101 800425167 BROOKS BOBBY ELBERT JR 4523 LAMBING ROAD JACKSONVILLE FL 32210 17,000.00
49 SBC101 800426736 JOSEPH MARIE SOLANGE 410 NORTHEAST 132ND STREET MIAMI FL 33161 113,600.00
49 SBC101 800426827 LEMBO GIOVANNI 2250 BROOKSIDE DRIVE LUTZ FL 33549 22,000.00
49 SBC101 800427510 HERRERA LARRY 3668 SOUTH WACO STREET AURORA CO 80013 18,300.00
49 SBC101 800427528 CALCUTT RICKIE ULMER 8126 SEALAWN DRIVE SPRING HILL FL 34606 24,000.00
49 SBC101 800427825 HYDE DAN J 6611 SOUTH CYCLAMEN DRIVE WEST JORDAN UT 84084 46,500.00
49 SBC101 800427890 WESTOVER JON H 4671 WEST 5175 SOUTH KEARNS UT 84118 14,211.00
49 SBC101 800428062 NIEKRASZ-LAU VIRGINIA L 1011 H STREET EUREKA CA 95501 24,000.00
49 SBC101 800429870 DEARDEUFF STEVEN R 6859 EAST FLOSSMOOR AVENUE MESA AZ 85208 25,900.00
49 SBC101 800430217 ALICEA DAVID 9900 SOUTHWEST 59TH COURT COOPER CITY FL 33328 17,418.00
<CAPTION>
Cut-off Date First Original Current Scheduled
Pool Sale Principal Payment Maturity Rem Date LTV Mortgage Payment
ID ID Account Balance Date Date Term Due Ratio Rate Int & Prin
- ---------------------------------------------------------------------------------------------------------------------
<C> <C> <S> <C> <C> <C> <C> <C> <C> <C> <C>
49 SBC101 800402604 43,800.00 01/01/98 12/01/12 180.00 01/31/00 84.9 12.000 450.53
49 SBC101 800403701 22,177.70 11/01/97 10/01/12 178.00 01/31/00 89.9 12.050 266.92
49 SBC101 800404501 120,000.00 12/05/97 11/05/27 359.15 01/31/00 77.4 9.550 1,013.41
49 SBC101 800404675 25,000.00 12/10/97 11/10/12 179.31 01/31/00 84.8 9.650 263.32
49 SBC101 800405367 139,890.83 11/20/97 10/20/12 178.62 01/31/00 80.0 11.100 1,343.84
49 SBC101 800405938 17,635.03 11/14/97 10/14/07 118.42 01/31/00 70.9 8.900 225.78
49 SBC101 800406365 45,000.00 12/01/97 11/01/12 179.00 01/31/00 76.7 11.150 515.71
49 SBC101 800406647 10,000.00 12/10/97 11/10/12 179.31 01/31/00 28.5 12.500 123.25
49 SBC101 800406720 37,597.30 11/20/97 10/20/07 118.62 01/31/00 85.9 9.500 491.71
49 SBC101 800406985 25,934.50 12/01/97 11/01/12 179.00 01/31/00 76.6 10.400 235.89
49 SBC101 800407066 18,000.00 12/01/97 11/01/12 179.00 01/31/00 90.0 11.200 206.86
49 SBC101 800407611 12,900.00 12/04/97 11/04/17 239.11 01/31/00 79.8 13.750 158.08
49 SBC101 800407694 90,991.05 11/14/97 10/14/12 178.42 01/31/00 87.1 11.950 932.54
49 SBC101 800407918 22,561.00 11/24/97 10/24/12 178.75 01/31/00 85.0 12.700 244.30
49 SBC101 800408056 11,723.00 12/01/97 11/01/12 179.00 01/31/00 85.0 12.400 124.21
49 SBC101 800408957 34,000.00 12/01/97 11/01/17 239.00 01/31/00 89.1 11.300 357.91
49 SBC101 800409062 18,500.00 12/05/97 11/05/17 239.15 01/31/00 85.0 11.100 192.22
49 SBC101 800409377 40,000.00 12/05/97 11/05/17 239.15 01/31/00 90.0 11.550 427.95
49 SBC101 800410672 43,000.00 12/01/97 11/01/12 179.00 01/31/00 76.9 11.300 419.28
49 SBC101 800411290 23,909.06 11/24/97 10/24/12 178.75 01/31/00 83.5 11.850 285.73
49 SBC101 800412231 20,700.00 12/01/97 11/01/17 239.00 01/31/00 90.0 11.650 222.89
49 SBC101 800413429 25,200.00 12/14/97 11/14/12 179.44 01/31/00 70.0 12.900 317.18
49 SBC101 800413635 30,525.00 12/17/97 11/17/12 179.54 01/31/00 89.9 10.850 344.08
49 SBC101 800414393 13,500.00 01/01/98 12/01/17 240.00 01/31/00 84.9 11.300 142.11
49 SBC101 800414443 161,000.00 12/13/97 11/13/12 179.41 01/31/00 85.8 11.300 1,569.85
49 SBC101 800414567 46,519.55 12/01/97 11/01/17 239.00 01/31/00 85.0 12.900 544.38
49 SBC101 800415283 11,825.00 12/01/97 11/01/12 179.00 01/31/00 84.7 12.250 143.83
49 SBC101 800416182 36,800.00 11/29/97 10/29/12 178.92 01/31/00 84.9 11.900 439.30
49 SBC101 800416281 37,931.00 01/01/98 12/01/17 240.00 01/31/00 79.9 14.000 471.68
49 SBC101 800416588 68,400.00 12/04/97 11/04/17 239.11 01/31/00 90.0 12.050 755.53
49 SBC101 800416927 40,200.00 12/05/97 11/05/12 179.15 01/31/00 89.9 11.050 458.17
49 SBC101 800417073 20,956.41 11/22/97 10/22/12 178.68 01/31/00 89.4 12.350 256.78
49 SBC101 800417495 33,029.19 12/01/97 11/01/12 179.00 01/31/00 85.0 12.100 343.02
49 SBC101 800418345 62,081.00 12/01/97 11/01/12 179.00 01/31/00 84.8 12.400 657.75
49 SBC101 800418410 53,144.00 01/01/98 12/01/17 240.00 01/31/00 90.0 10.800 541.33
49 SBC101 800418527 15,000.00 12/05/97 11/05/07 119.15 01/31/00 68.8 11.100 207.48
49 SBC101 800419376 171,000.00 12/05/97 11/05/12 179.15 01/31/00 90.0 11.050 1,634.94
49 SBC101 800419459 58,500.00 01/01/98 12/01/12 180.00 01/31/00 84.5 12.500 721.03
49 SBC101 800419467 67,864.98 10/01/97 09/01/12 177.00 01/31/00 79.5 14.000 804.50
49 SBC101 800419624 31,245.00 01/01/98 12/01/12 180.00 01/31/00 84.5 12.000 321.39
49 SBC101 800420523 30,400.00 12/07/97 11/07/12 179.21 01/31/00 80.0 11.900 362.90
49 SBC101 800420747 27,000.00 12/04/97 11/04/12 179.11 01/31/00 75.0 11.900 322.31
49 SBC101 800421042 39,486.00 12/01/97 11/01/12 179.00 01/31/00 89.9 11.650 465.04
49 SBC101 800421307 44,243.10 11/10/97 10/10/17 238.29 01/31/00 84.8 13.150 524.17
49 SBC101 800421463 51,800.00 12/01/97 11/01/12 179.00 01/31/00 70.0 10.450 471.90
49 SBC101 800421547 55,000.00 12/01/97 11/01/12 179.00 01/31/00 84.3 11.900 561.51
49 SBC101 800421596 25,000.00 12/01/97 11/01/12 179.00 01/31/00 89.6 10.150 222.17
49 SBC101 800421661 80,000.00 01/01/98 12/01/12 180.00 01/31/00 80.0 10.500 731.79
49 SBC101 800422339 46,900.00 12/04/97 11/04/27 359.11 01/31/00 70.0 10.600 432.52
49 SBC101 800423733 97,300.00 12/01/97 11/01/12 179.00 01/31/00 79.5 9.650 828.82
49 SBC101 800424764 17,200.00 12/03/97 11/03/12 179.08 01/31/00 66.6 9.650 181.17
49 SBC101 800424830 39,500.00 01/01/98 12/01/12 180.00 01/31/00 86.7 10.400 358.37
49 SBC101 800425167 17,000.00 12/01/97 11/01/12 179.00 01/31/00 56.6 10.700 190.03
49 SBC101 800426736 113,600.00 12/03/97 11/03/27 359.08 01/31/00 80.0 12.000 1,168.50
49 SBC101 800426827 21,936.50 11/24/97 10/24/12 178.75 01/31/00 82.6 11.300 254.21
49 SBC101 800427510 18,300.00 01/01/98 12/01/17 240.00 01/31/00 90.0 11.300 192.64
49 SBC101 800427528 24,000.00 12/13/97 11/13/12 179.41 01/31/00 77.4 12.050 288.81
49 SBC101 800427825 46,500.00 01/01/98 12/01/12 180.00 01/31/00 81.1 12.000 558.08
49 SBC101 800427890 14,211.00 01/01/98 12/01/12 180.00 01/31/00 89.9 11.300 164.21
49 SBC101 800428062 24,000.00 12/01/97 11/01/12 179.00 01/31/00 83.1 12.100 289.59
49 SBC101 800429870 25,900.00 01/01/98 12/01/17 240.00 01/31/00 84.9 12.250 289.71
49 SBC101 800430217 17,418.00 12/07/97 11/07/17 239.21 01/31/00 80.0 13.750 213.44
</TABLE>
<PAGE>
<TABLE>
Page 9
ALLIANCE FUNDING
A division of Superior Bank FSB
Sale Schedule -- Group 1, Sub Pool II
1997-4 Class 1 -- Initial of Fixed Rate Mortgages -- Settlement 12/22/97
<CAPTION>
Principal
Pool Sale Zip Balance at
ID ID Account Name Address City State Code Origination
- ------------------------------------------------------------------------------------------------------------------------------------
<C> <C> <S> <C> <C> <C> <C> <C> <C>
49 SBC101 800430548 D'ANTONA JOHN 25 DAURIA DRIVE SEYMOUR CT 06483 96,000.00
49 SBC101 800430647 SMITH CORNELIUS E III 17112 OTTO LANE HUDSON FL 34669 42,415.00
49 SBC101 800431108 DODY BRETT E 5374 SOUTH TAFT COURT LITTLETON CO 80127 36,702.00
49 SBC101 800431462 ISBELL ROBERT KELLY 2914 WEST 4425 SOUTH ROY UT 84067 27,000.00
49 SBC101 800432213 OCAMPO CLAIRE 511 W WALNUT STREET LONG BEACH NY 11561 65,000.00
49 SBC101 800432270 HENRY ROBERT K 210 POWELL ROAD BUTLER PA 16002 33,599.00
49 SBC101 800433492 HARRIS HARRY L 7701 WEST FLORIDA DRIVE LAKEWOOD CO 80232 34,600.00
49 SBC101 800433864 RANDALL MATTHEW D 1440 NORTH MANDALAY ROAD SALT LAKE CITY UT 84116 89,600.00
49 SBC101 800434326 LEWIS JOSEPH P 30 HIDEAWAY DRIVE WILLOW GROVE PA 19090 59,300.00
49 SBC101 800434920 STANTON BONNIE J 3211 LEPRECHAUN LANE PALM HARBOR FL 34683 502,500.00
49 SBC101 800434987 WITTE PATRICK S 7605 SANDIGAN DRIVE FREDERICK MD 21702 64,000.00
49 SBC101 800435471 KNOX DAVID A 1858 EAST BROWN ROAD MESA AZ 85203 28,745.00
49 SBC101 800435711 SCHMIDT KENNETH A 1241 PEARL STREET DENVER CO 80203 66,000.00
49 SBC101 800436271 TALMERS LYDIA 30310 RCR 14 E STEAMBOAT SPRINGS CO 80477 300,000.00
49 SBC101 800436297 PETRY IAN S 1111 EAST HARRISON STREET SEATTLE WA 98102 35,500.00
49 SBC101 800437014 GILLEN MARK A 9 MARY STREET ASHLEY PA 18706 16,503.00
49 SBC101 800437915 DERRAH JEANNE E 29 ADMIRAL KALBFUS RD NEWPORT RI 02840 20,000.00
49 SBC101 800439333 WINWARD RONALD J 40 ORCHARD LANE IVYLAND PA 18974 66,400.00
49 SBC101 800440026 RANKIN DUDLEY DAVID 4450 RUSTIC TRAIL BOULDER CO 80301 40,000.00
49 SBC101 800440257 OLIVER MICHAEL S 6075 COPPER CITY DRIVE BENNION UT 84118 10,900.00
49 SBC101 800440588 MARSHALL RUBENNA R 710 SOUTH SHARRON STREET KENNEWICK WA 99336 17,000.00
49 SBC101 800441941 EDGEMAN MARY H 515 VALLEY ROAD LEADVILLE CO 80461 50,000.00
49 SBC101 800442071 DAMOUR JAMES 47 RIDGE DRIVE EAST FLOWER HILL NY 11576 40,000.00
49 SBC101 800442386 MOSS JEFFREY P 9706 REX STREET HUDSON FL 34669 20,000.00
49 SBC101 800442881 LIEN KAREN L 5122 PRESTON AVENUE SOUTH GULFPORT FL 33707 15,791.00
49 SBC101 800444747 LUBBERS KEVAN W 4138 SOUTH KING VALLEY WAY WEST VALLEY CITY UT 84128 12,000.00
49 SBC101 800445397 VIGLIOTTA PASQUALE 27 VALLEY ROAD WOBURN MA 01801 37,000.00
49 SBC101 800447336 FLORENCE GARY R 3395 EAGLE NEST DRIVE SPRING HILL FL 34607 19,900.00
49 SBC101 800447633 PANCIARELLO MARCO C JR 2622 7TH AVENUE EAST MEADOW NY 11554 65,000.00
49 SBC101 800450082 TEELE WILLIAM E 11928 AUTUMNWOOD LANE FT WASHINGTON MD 20744 40,000.00
49 SBC101 800450413 PATTON FRANK M JR 4014 WOODRIDGE DRIVE POLK CITY FL 33868 27,750.00
49 SBC101 800450793 GROTH RICHARD 5982 SAMOA DRIVE BOKEELIA FL 33922 22,200.00
49 SBC101 800451957 WALSH THOMAS J 811 1/2 WASHINGTON STREET THROOP PA 18512 45,939.00
49 SBC101 800453276 GROSSMAN JAN 12448 NORTH 129TH PLACE SCOTTSDALE AZ 85259 44,000.00
49 SBC101 800456220 KUHN JAMES G 11 PENINSULA DRIVE CENTRAL CITY PA 15926 18,000.00
49 SBC101 800459356 CROWTHER RAYMOND KEITH 6504 WEST 3560 SOUTH WEST VALLEY CITY UT 84128 36,600.00
49 SBC101 800459471 GLIEDEN MIKE 3742 WEST VALLEYWEST DRIVE WEST JORDAN UT 84088 49,424.00
49 SBC101 800460339 BEND EVANDER ROUTE 4 BOX 4088-R MONTICELLO FL 32344 61,866.00
49 SBC101 800460727 SHUPE IVAN M 1718 NORTH 30TH STREET MESA AZ 85213 43,000.00
49 SBC101 800463457 NORRIS LILIA A 3164 JEFFLAND ROAD BALTIMORE MD 21244 96,000.00
49 SBC102 800173734 GROSS TIMOTHY J 4432 MCCOY STREET TAMPA FL 33616 45,000.00
49 SBC102 800233173 CELONA ANGELO J 218 SLATER BOULEVARD STATEN ISLAND NY 10305 50,000.00
49 SBC102 800269052 ACCARDI STEVE J 505 SAW MILL ROAD NEW PROVIDENCE PA 17560 58,900.00
49 SBC102 800301475 BISHOP BRUCE K 9370 LISA CIRCLE GAINESVILLE GA 30506 34,500.00
49 SBC102 800306771 GREINER J SCOTT 11 JULIE TERRACE LITITZ PA 17543 27,250.00
49 SBC102 800312225 ERICKSON DENISE M 16814 S 2ND PLACE PHOENIX AZ 85048 15,420.00
49 SBC102 800316796 WOODBURY LYLE J 708 W SAGEBRUSH STREET GILBERT AZ 85233 25,015.00
49 SBC102 800324121 RICHARDS DAVID L 10780 N 129TH STREET SCOTTSDALE AZ 85259 66,000.00
49 SBC102 800327033 VO VIET QUY 12670 PICRUS STREET SANDIEGO CA 92129 30,000.00
49 SBC102 800327447 PERRY DIANE C 4411 SOUTHEAST 14TH PLACE CAPE CORAL FL 33904 17,547.00
49 SBC102 800329088 SAHLI LIBBE ANNE 3726 SOUTH 251ST PLACE KENT WA 98032 34,983.00
49 SBC102 800330995 RINNE ROGER L 1843 E EVERGREEN STREET MESA AZ 85203 81,500.00
49 SBC102 800333239 TINLING SONIA 449 EAST 56 STREET BROOKLYN NY 11234 187,000.00
49 SBC102 800334971 YAITANES JOHN F 1623 NORTH JEFFERSON AVENU LARGO FL 33770 49,500.00
49 SBC102 800336349 WEBB TERRY J 20824 KEENE ROAD LITHIA FL 33547 104,000.00
49 SBC102 800344160 DAVIDSON DENNIS T 3641 WEST VISTA AVENUE PHOENIX AZ 85051 22,825.00
49 SBC102 800349789 IVERSON JOHN M 3600 S ROBINSON BLVD NAMPA ID 83687 30,000.00
49 SBC102 800350456 BAKER VICTOR E 701 POPLAR RIDGE COURT CHESAPEAKE CITY VA 23322 25,600.00
49 SBC102 800351348 COLLINS ANTHONY W 628 E SANDY STREET NORRISTOWN PA 19401 15,200.00
49 SBC102 800352445 WILLARD ROBERT J 305 STANLEY AVE SOUTH ST PAUL MN 55075 57,984.00
49 SBC102 800352965 DOMINGUEZ RICARDO L 826 TULARE CIRCLE SUISUN CITY CA 94585 32,420.00
49 SBC102 800354110 HOUSER ROBERT C 5015 E DOUBLETREE RANCH RO PARADISE VALLEY AZ 85253 217,884.00
<CAPTION>
Cut-off Date First Original Current Scheduled
Pool Sale Principal Payment Maturity Rem Date LTV Mortgage Payment
ID ID Account Balance Date Date Term Due Ratio Rate Int & Prin
- ---------------------------------------------------------------------------------------------------------------------
<C> <C> <S> <C> <C> <C> <C> <C> <C> <C> <C>
49 SBC101 800430548 96,000.00 12/03/97 11/03/17 239.08 01/31/00 63.8 10.400 952.00
49 SBC101 800430647 42,415.00 12/06/97 11/06/17 239.18 01/31/00 85.0 11.750 459.65
49 SBC101 800431108 36,702.00 01/01/98 12/01/12 180.00 01/31/00 80.0 14.000 488.78
49 SBC101 800431462 27,000.00 11/16/97 10/16/17 238.49 01/31/00 84.9 14.300 341.65
49 SBC101 800432213 65,000.00 12/17/97 11/17/12 179.54 01/31/00 80.3 12.000 668.60
49 SBC101 800432270 33,599.50 12/14/97 11/14/12 179.44 01/31/00 90.0 10.650 374.54
49 SBC101 800433492 34,600.00 01/01/98 12/01/12 180.00 01/31/00 84.8 12.000 415.26
49 SBC101 800433864 89,600.00 12/01/97 11/01/12 179.00 01/31/00 70.0 10.500 990.44
49 SBC101 800434326 59,300.00 12/07/97 11/07/12 179.21 01/31/00 89.9 10.875 669.35
49 SBC101 800434920 502,500.00 12/13/97 11/13/12 179.41 01/31/00 69.7 8.900 5,066.84
49 SBC101 800434987 64,000.00 12/05/97 11/05/12 179.15 01/31/00 89.1 11.050 729.43
49 SBC101 800435471 28,745.00 01/01/98 12/01/17 240.00 01/31/00 83.2 12.250 321.53
49 SBC101 800435711 66,000.00 01/01/98 12/01/12 180.00 01/31/00 84.5 12.500 813.46
49 SBC101 800436271 300,000.00 12/01/97 11/01/12 179.00 01/31/00 76.2 10.750 2,800.44
49 SBC101 800436297 35,500.00 01/01/98 12/01/12 180.00 01/31/00 90.0 10.750 331.39
49 SBC101 800437014 16,314.91 12/10/97 11/10/12 179.31 01/31/00 89.8 11.050 188.09
49 SBC101 800437915 20,000.00 12/11/97 11/11/12 179.34 01/31/00 80.9 12.600 215.00
49 SBC101 800439333 66,400.00 12/05/97 11/05/12 179.15 01/31/00 79.9 13.250 851.07
49 SBC101 800440026 40,000.00 01/01/98 12/01/12 180.00 01/31/00 76.1 13.750 525.99
49 SBC101 800440257 10,900.00 01/01/98 12/01/17 240.00 01/31/00 89.9 11.050 112.88
49 SBC101 800440588 17,000.00 01/01/98 12/01/17 240.00 01/31/00 70.7 11.000 175.47
49 SBC101 800441941 50,000.00 01/01/98 12/01/12 180.00 01/31/00 71.8 9.300 413.15
49 SBC101 800442071 40,000.00 12/13/97 11/13/17 239.41 01/31/00 83.7 9.900 383.36
49 SBC101 800442386 20,000.00 12/07/97 11/07/12 179.21 01/31/00 55.5 9.900 213.70
49 SBC101 800442881 15,791.00 12/10/97 11/10/17 239.31 01/31/00 80.0 12.990 184.89
49 SBC101 800444747 11,936.70 11/27/97 10/27/12 178.85 01/31/00 87.3 12.600 148.68
49 SBC101 800445397 37,000.00 12/13/97 11/13/17 239.41 01/31/00 84.8 13.000 433.48
49 SBC101 800447336 19,900.00 12/10/97 11/10/12 179.31 01/31/00 90.0 9.990 213.72
49 SBC101 800447633 65,000.00 12/04/97 11/04/12 179.11 01/31/00 89.3 12.100 784.30
49 SBC101 800450082 40,000.00 12/10/97 11/10/12 179.31 01/31/00 89.2 10.900 377.91
49 SBC101 800450413 27,750.00 12/06/97 11/06/12 179.18 01/31/00 75.0 11.660 327.00
49 SBC101 800450793 22,200.00 12/13/97 11/13/12 179.41 01/31/00 84.9 12.250 270.02
49 SBC101 800451957 45,939.00 12/10/97 11/10/12 179.31 01/31/00 89.9 10.900 519.26
49 SBC101 800453276 44,000.00 01/01/98 12/01/12 180.00 01/31/00 89.8 11.600 439.09
49 SBC101 800456220 18,000.00 12/17/97 11/17/12 179.54 01/31/00 75.4 12.600 223.03
49 SBC101 800459356 36,471.75 12/01/97 11/01/12 179.00 01/31/00 85.2 12.350 447.54
49 SBC101 800459471 49,424.00 12/01/97 11/01/12 179.00 01/31/00 89.9 12.600 531.32
49 SBC101 800460339 61,866.00 12/17/97 11/17/17 239.54 01/31/00 80.0 10.000 597.02
49 SBC101 800460727 43,000.00 01/01/98 12/01/12 180.00 01/31/00 84.1 10.050 463.40
49 SBC101 800463457 96,000.00 12/17/97 11/17/17 239.54 01/31/00 84.2 9.050 866.83
49 SBC102 800173734 44,127.03 05/07/97 04/07/12 172.18 01/31/00 79.6 9.400 375.11
49 SBC102 800233173 50,000.00 08/22/97 07/22/12 175.66 01/31/00 80.0 14.000 665.87
49 SBC102 800269052 58,900.00 10/01/97 09/01/12 177.00 01/31/00 79.8 13.350 667.70
49 SBC102 800301475 34,463.49 09/01/97 08/01/12 176.00 01/31/00 79.5 14.000 408.78
49 SBC102 800306771 27,124.66 09/27/97 08/27/12 176.84 01/31/00 90.0 11.950 326.17
49 SBC102 800312225 15,420.00 12/01/97 11/01/17 239.00 01/31/00 80.0 10.100 149.83
49 SBC102 800316796 25,008.53 10/09/97 09/09/12 177.27 01/31/00 90.0 12.450 266.00
49 SBC102 800324121 65,959.34 11/01/97 10/01/12 178.00 01/31/00 84.8 10.000 709.24
49 SBC102 800327033 30,000.00 11/13/97 10/13/12 178.39 01/31/00 84.6 12.650 372.69
49 SBC102 800327447 17,459.29 10/01/97 09/01/07 117.00 01/31/00 80.0 12.950 261.48
49 SBC102 800329088 34,963.60 11/01/97 10/01/12 178.00 01/31/00 90.0 11.150 337.12
49 SBC102 800330995 81,366.53 11/01/97 10/01/12 178.00 01/31/00 45.2 9.250 670.48
49 SBC102 800333239 186,388.90 09/27/97 08/27/27 356.84 01/31/00 85.0 10.990 1,779.43
49 SBC102 800334971 49,150.34 10/03/97 09/03/17 237.07 01/31/00 60.3 8.250 421.77
49 SBC102 800336349 104,000.00 12/18/97 11/18/17 239.57 01/31/00 80.0 11.400 1,101.93
49 SBC102 800344160 22,774.53 11/01/97 10/01/12 178.00 01/31/00 84.9 11.600 268.09
49 SBC102 800349789 29,871.05 11/01/97 10/01/12 178.00 01/31/00 84.6 11.150 343.81
49 SBC102 800350456 25,600.00 12/03/97 11/03/12 179.08 01/31/00 89.6 12.450 314.69
49 SBC102 800351348 15,200.00 12/01/97 11/01/17 239.00 01/31/00 89.9 11.950 166.84
49 SBC102 800352445 57,913.88 11/01/97 10/01/12 178.00 01/31/00 90.0 11.650 580.86
49 SBC102 800352965 32,420.00 12/01/97 11/01/12 179.00 01/31/00 80.0 11.550 379.76
49 SBC102 800354110 217,884.00 12/01/97 11/01/12 179.00 01/31/00 85.0 9.900 1,896.01
</TABLE>
<PAGE>
<TABLE>
Page 10
ALLIANCE FUNDING
A division of Superior Bank FSB
Sale Schedule -- Group 1, Sub Pool II
1997-4 Class 1 -- Initial of Fixed Rate Mortgages -- Settlement 12/22/97
<CAPTION>
Principal
Pool Sale Zip Balance at
ID ID Account Name Address City State Code Origination
- ------------------------------------------------------------------------------------------------------------------------------------
<C> <C> <S> <C> <C> <C> <C> <C> <C>
49 SBC102 800355000 OLSEN CYNTHIA M 4943 W ROUNDSTEM ROAD WEST JORDAN UT 84084 37,000.00
49 SBC102 800355034 HILL CHARLES J 524 WEST 22ND STREET THE DALLES OR 97058 47,750.00
49 SBC102 800356214 LYDA LYNDA 17900 SW HART DRIVE BEAVERTON OR 97007 37,750.00
49 SBC102 800356461 DECAITO RONALD J 53 LEXINGTON DRIVE LIVINGSTON NJ 07039 226,000.00
49 SBC102 800360885 KATZ ABRAHAM 3 WIENER DRIVE MONSEY NY 10952 80,000.00
49 SBC102 800366643 GUSSIO SCOTT ANTHONY 1108 S CURLEY STREET BALTIMORE MD 21224 14,800.00
49 SBC102 800367146 KORZENIEWSKI TADEUSZ 4553 BEECHWOOD DRIVE EL DORADO HILLS CA 95762 59,800.00
49 SBC102 800371916 WYRICK LON D 3608 CAROL AVENUE YAKIMA WA 98902 55,783.00
49 SBC102 800376261 BONVINO SALVATORE 16 NORTH NINTH AVENUE MT VERNON NY 10550 35,000.00
49 SBC102 800379968 RHEINHEIMER MICHAEL R 134 CARSON AVENUE LAS ANIMAS CO 81054 22,900.00
49 SBC102 800380321 STALEY WARDELL M 122 DELAWARE DRIVE ORANGEBURG SC 29115 46,750.00
49 SBC102 800380362 MCANDREWS JAMES J 6 NURSERY LANE MADISON CT 06443 50,000.00
49 SBC102 800380735 PETERSEN BRUCE L 182 LARSEN DRIVE PRESTON ID 83263 13,800.00
49 SBC102 800382129 PETERSON MICHAEL 2003 JANE AVENUE COLUMBUS OH 43219 14,790.00
49 SBC102 800383259 SHEEHAN ROBERT J 7623 RADCLIFFE CIRCLE PORT RICHEY FL 34668 29,000.00
49 SBC102 800384307 DYSON RONALD 1802 SHIPLEY ROAD WILMINGTON DE 19803 79,063.00
49 SBC102 800385015 KAHLE BERNARD E 4 UNION ROAD WALES MA 01081 48,000.00
49 SBC102 800385957 FOSTER JAMES E JR 2538 FORREST WOOD DRIVE VALDOSTA GA 31602 13,900.00
49 SBC102 800387672 STEBBINGS DANIEL W 27 STILL POND DRIVE NEW FREEDOM PA 17349 43,500.00
49 SBC102 800388415 BRUCE ARCHIE LEE 5885 SKYLINE DRIVE SAN DIEGO CA 92114 22,462.00
49 SBC102 800389611 CHRISTENSEN LOUISE J 112 NORTHWEST 178TH STREET SHORELINE WA 98117 57,000.00
49 SBC102 800390122 JANG YOUNG SU 207 MORNINGSIDE ROAD PARAMUS NJ 07652 28,440.00
49 SBC102 800390692 LE NGHIA T 23802 60TH AVENUE WEST MOUNTLAKE TERRACE WA 98043 18,000.00
49 SBC102 800392177 KRAFCHUK KATHLEEN 42 ELDERBERRY ROAD SYOSSET NY 11791 225,000.00
49 SBC102 800392342 LITCHFIELD KIRBY D 1797 BERTHERA ROAD BONNEAU SC 29431 25,000.00
49 SBC102 800395337 JONES DEBRA 2006 STALLION ROAD CANTONMENT FL 32533 31,500.00
49 SBC102 800396491 HOLCOMB KAREN L 216 LEATHER BARK ROAD CRANBERRY TWP PA 16066 30,000.00
49 SBC102 800397770 FLYNN RUSSELL 48 RELDA STREET PLAINVIEW NY 11803 86,000.00
49 SBC102 800397788 BATTEN SUSANNA L 640 SOUTHWEST ORANGE AVE KEYSTONE HEIGHTS FL 32656 23,250.00
49 SBC102 800397911 MCMULLEN D SCOTT 2805 SW MARSHALL AVENUE PENDLETON OR 97801 25,000.00
49 SBC102 800398083 NEWMAN JAMES W 1914 ST CLAIR AVENUE PUEBLO CO 81004 14,477.00
49 SBC102 800401713 GUTIERREZ AGUSTIN M 201 BORNITE AVENUE BISBEE AZ 85603 17,196.00
49 SBC102 800401747 STANLEY LANG ROBERT 2006 TACOMA POINT DRIVE E SUMNER WA 98390 57,000.00
49 SBC102 800402398 GOMEZ ANTHONY 278 BLAKE STREET NEW HAVEN CT 06515 35,000.00
49 SBC102 800402620 THOMAS THOMAS E 1125 NORTHWOOD LOOP PRESCOTT AZ 86303 38,600.00
49 SBC102 800402901 BARRAGAN JOHN 5071 CARTARO DRIVE LAS VEGAS NV 89103 31,300.00
49 SBC102 800402943 GARARD RONALD A 3627 EAST FRIESS DRIVE PHOENIX AZ 85032 20,000.00
49 SBC102 800402992 BUTLER JAMIE L 760 NITTANY VALLEY DRIVE BELLEFONTE PA 16823 48,000.00
49 SBC102 800404626 IMETOVSKI GARIP 14 HERITAGE DRIVE SEYMOUR CT 06483 30,000.00
49 SBC102 800404899 OERTLE JOHN D 2986 NORTH IROQUOIS DRIVE PROVO UT 84604 47,250.00
49 SBC102 800406753 WILLIAMS DENNIS R 385 SOUTH 300 WEST LEHI UT 84043 22,500.00
49 SBC102 800407769 HALL HERMAN DEWAYNE 1328 S.E. CHAPMAN STREET TROUTDALE OR 97060 30,000.00
49 SBC102 800408064 FONTES OLGA I 16 SAYWARD STREET BOSTON MA 02125 65,800.00
49 SBC102 800411035 STURTZ DAVID L 1547 TOLEDO COURT BELLINGHAM WA 98226 12,250.00
49 SBC102 800415788 ARONSON KENNETH 36 GRIDLEY STREET WEST ISLIP NY 11795 32,500.00
49 SBC102 800416414 FRANCIS COURTNEY 317 WINTHROP STREET BROOKLYN NY 11225 135,000.00
49 SBC102 800418451 ARGOTE EDGAR 1611 OHIO AVENUE BAY SHORE NY 11706 26,770.00
49 SBC102 800421166 KESMARKI TEREZIA 1477 FAIRFAX STREET DENVER CO 80220 13,304.00
49 SBC102 800421679 DUFOUR FREDERICK H JR 134 INGALLS CORNERS ROAD PERRYVILLE NY 13133 34,000.00
49 SBC102 800421885 BERGER JULIA 733 QUINNIPIAC AVENUE NEW HAVEN CT 06513 30,000.00
49 SBC102 800422321 IZQUIERDO ALEJANDRO 4249 CONASHAUGH LAKE MILFORD PA 18337 12,500.00
49 SBC102 800426256 BLACKMAN VINCENT 597 EAST 52ND STREET BROOKLYN NY 11203 159,000.00
49 SBC102 800427072 PARIS PAUL R 74 HOYTS HILL ROAD BETHEL CT 06801 85,000.00
49 SBC102 800429599 LORD JAMES M 81 HEMLOCK DRIVE DAWSONVILLE GA 30534 58,650.00
49 SBC102 800431660 MCGLYNN GLYNN 338 SOUTH FLAT HILL ROAD SOUTHBURY CT 06488 75,000.00
49 SBC102 800431678 MUSCATELLI RALPH L 102 FRANKLIN STREET MANSFIELD MA 02048 20,000.00
49 SBC102 800432106 WALSH JOSEPH 90 ISLAND PARKWAY NORTH ISLAND PARK NY 11558 140,000.00
49 SBC102 800432908 CARRASCO MARIA 108-110 WAVERLY STREET PROVIDENCE RI 02907 51,300.00
49 SBC102 800435067 BERNASZ KIMBERLY D 354 PAWNEE DRIVE AUBURN PA 17922 72,400.00
49 SBC102 800435778 SMITH JAMES W 5120 WES MAR ROAD FT MYERS FL 33905 28,000.00
49 SBC102 800436099 GRAY DONALD NOLAN 3179 WEST 9190 SOUTH WEST JORDAN UT 84088 59,080.00
49 SBC102 800436735 BRYAN CHARLES P JR 5500 LIBRARY ROAD BETHEL PARK PA 15102 11,700.00
<CAPTION>
Cut-off Date First Original Current Scheduled
Pool Sale Principal Payment Maturity Rem Date LTV Mortgage Payment
ID ID Account Balance Date Date Term Due Ratio Rate Int & Prin
- ---------------------------------------------------------------------------------------------------------------------
<C> <C> <S> <C> <C> <C> <C> <C> <C> <C> <C>
49 SBC102 800355000 37,000.00 11/01/97 10/01/12 178.00 01/31/00 75.6 13.600 482.84
49 SBC102 800355034 47,750.00 12/01/97 11/01/17 239.00 01/31/00 84.9 11.600 512.51
49 SBC102 800356214 37,750.00 11/01/97 10/01/12 178.00 01/31/00 85.0 11.350 369.52
49 SBC102 800356461 225,749.38 11/03/97 10/03/12 178.06 01/31/00 79.2 9.850 1,958.31
49 SBC102 800360885 79,973.58 11/01/97 10/01/12 178.00 01/31/00 83.0 11.350 783.10
49 SBC102 800366643 14,773.59 11/01/97 10/01/12 178.00 01/31/00 84.9 13.200 189.21
49 SBC102 800367146 59,800.00 11/01/97 10/01/12 178.00 01/31/00 86.8 11.150 576.28
49 SBC102 800371916 55,722.02 12/01/97 11/01/12 179.00 01/31/00 90.0 10.750 520.72
49 SBC102 800376261 35,000.00 12/03/97 11/03/12 179.08 01/31/00 84.9 13.300 395.39
49 SBC102 800379968 22,900.00 01/01/98 12/01/12 180.00 01/31/00 85.0 12.000 274.84
49 SBC102 800380321 46,750.00 12/17/97 11/17/17 239.54 01/31/00 85.0 12.900 544.38
49 SBC102 800380362 50,000.00 12/01/97 11/01/12 179.00 01/31/00 83.6 12.250 523.95
49 SBC102 800380735 13,800.00 11/14/97 10/14/12 178.42 01/31/00 53.9 15.000 174.49
49 SBC102 800382129 14,790.00 12/04/97 11/04/12 179.11 01/31/00 79.9 13.000 163.61
49 SBC102 800383259 28,968.31 11/01/97 10/01/17 238.00 01/31/00 63.0 8.250 247.10
49 SBC102 800384307 78,900.95 11/02/97 10/02/12 178.03 01/31/00 89.9 11.750 936.21
49 SBC102 800385015 48,000.00 12/04/97 11/04/12 179.11 01/31/00 84.8 13.790 632.48
49 SBC102 800385957 13,900.00 11/28/97 10/28/12 178.88 01/31/00 84.8 13.000 175.87
49 SBC102 800387672 43,500.00 12/18/97 11/18/17 239.57 01/31/00 89.6 11.300 457.92
49 SBC102 800388415 22,444.14 11/01/97 10/01/12 178.00 01/31/00 84.8 12.100 271.03
49 SBC102 800389611 57,000.00 12/01/97 11/01/12 179.00 01/31/00 84.9 11.600 669.50
49 SBC102 800390122 28,440.00 01/01/98 12/01/12 180.00 01/31/00 79.8 14.500 388.35
49 SBC102 800390692 18,000.00 11/01/97 10/01/12 178.00 01/31/00 90.0 11.250 174.83
49 SBC102 800392177 225,000.00 12/11/97 11/11/27 359.34 01/31/00 78.9 9.400 1,875.53
49 SBC102 800392342 25,000.00 11/28/97 10/28/12 178.88 01/31/00 64.1 14.050 333.78
49 SBC102 800395337 31,500.00 12/01/97 11/01/12 179.00 01/31/00 75.7 11.800 374.01
49 SBC102 800396491 30,000.00 11/08/97 10/18/17 238.22 01/31/00 82.4 13.000 351.47
49 SBC102 800397770 85,875.55 11/20/97 10/20/17 238.62 01/31/00 82.6 9.900 824.23
49 SBC102 800397788 23,250.00 12/19/97 11/19/12 179.61 01/31/00 75.0 13.150 296.47
49 SBC102 800397911 25,000.00 12/01/97 11/01/12 179.00 01/31/00 84.5 12.500 308.13
49 SBC102 800398083 14,477.00 01/01/98 12/01/17 240.00 01/31/00 80.0 12.750 167.04
49 SBC102 800401713 17,196.00 12/01/97 11/01/12 179.00 01/31/00 75.0 12.350 210.27
49 SBC102 800401747 57,000.00 12/01/97 11/01/12 179.00 01/31/00 84.8 11.350 557.95
49 SBC102 800402398 35,000.00 12/04/97 11/04/17 239.11 01/31/00 75.5 13.400 420.07
49 SBC102 800402620 38,600.00 01/01/98 12/01/12 180.00 01/31/00 77.4 11.250 444.81
49 SBC102 800402901 31,199.96 12/01/97 11/01/12 179.00 01/31/00 89.9 11.300 361.67
49 SBC102 800402943 20,000.00 12/01/97 11/01/17 239.00 01/31/00 75.7 9.650 188.39
49 SBC102 800402992 48,000.00 12/17/97 11/17/12 179.54 01/31/00 80.0 12.550 593.17
49 SBC102 800404626 30,000.00 12/03/97 11/03/12 179.08 01/31/00 85.1 10.900 339.10
49 SBC102 800404899 47,250.00 12/01/97 11/01/12 179.00 01/31/00 84.9 13.200 530.08
49 SBC102 800406753 22,500.00 01/01/98 12/01/17 240.00 01/31/00 90.0 11.550 240.72
49 SBC102 800407769 30,000.00 12/01/97 11/01/12 179.00 01/31/00 68.6 10.300 327.91
49 SBC102 800408064 65,800.00 12/05/97 11/05/17 239.15 01/31/00 84.9 12.850 763.88
49 SBC102 800411035 12,250.00 11/24/97 10/24/12 178.75 01/31/00 84.8 12.800 153.39
49 SBC102 800415788 32,500.00 12/24/97 11/24/17 239.77 01/31/00 90.0 11.550 347.71
49 SBC102 800416414 135,000.00 12/05/97 11/05/12 179.15 01/31/00 90.0 11.250 1,311.21
49 SBC102 800418451 26,770.00 12/18/97 11/18/12 179.57 01/31/00 85.0 12.000 321.28
49 SBC102 800421166 13,304.00 01/01/98 12/01/17 240.00 01/31/00 80.0 12.500 151.15
49 SBC102 800421679 34,000.00 12/12/97 11/12/12 179.38 01/31/00 84.0 11.100 388.58
49 SBC102 800421885 30,000.00 12/06/97 11/06/27 359.18 01/31/00 75.0 9.150 244.63
49 SBC102 800422321 12,500.00 12/14/97 11/14/12 179.44 01/31/00 82.7 11.650 125.22
49 SBC102 800426256 159,000.00 12/18/97 11/18/12 179.57 01/31/00 83.6 9.550 1,342.76
49 SBC102 800427072 85,000.00 12/05/97 11/05/12 179.15 01/31/00 56.6 10.600 783.89
49 SBC102 800429599 58,650.00 12/03/97 11/03/17 239.08 01/31/00 85.0 11.600 629.51
49 SBC102 800431660 75,000.00 12/04/97 11/04/17 239.11 01/31/00 69.5 11.900 820.59
49 SBC102 800431678 20,000.00 12/01/97 11/01/27 359.00 01/31/00 25.0 10.850 188.20
49 SBC102 800432106 140,000.00 12/18/97 11/18/12 179.57 01/31/00 89.8 11.150 1,604.45
49 SBC102 800432908 51,300.00 12/19/97 11/19/12 179.61 01/31/00 90.0 11.400 504.11
49 SBC102 800435067 72,400.00 12/17/97 11/17/12 179.54 01/31/00 80.0 13.250 815.06
49 SBC102 800435778 28,000.00 12/18/97 11/18/12 179.57 01/31/00 78.9 12.500 345.11
49 SBC102 800436099 59,080.00 12/01/97 11/01/12 179.00 01/31/00 90.0 12.750 642.02
49 SBC102 800436735 11,700.00 12/19/97 11/19/12 179.61 01/31/00 90.0 10.150 126.80
</TABLE>
<PAGE>
<TABLE>
Page 11
ALLIANCE FUNDING
A division of Superior Bank FSB
Sale Schedule -- Group 1, Sub Pool II
1997-4 Class 1 -- Initial of Fixed Rate Mortgages -- Settlement 12/22/97
<CAPTION>
Principal
Pool Sale Zip Balance at
ID ID Account Name Address City State Code Origination
- ------------------------------------------------------------------------------------------------------------------------------------
<C> <C> <S> <C> <C> <C> <C> <C> <C>
49 SBC102 800437824 ESPOSITO SALVATORE 13 MELROSE PLACE WEST CALDWELL NJ 07006 31,100.00
49 SBC102 800438681 NABER SULEIMAN I 2 VICTORIA LANE YONKERS NY 10701 58,000.00
49 SBC102 800439770 SCOTT W SEAN 7482 WEST ALABAMA DRIVE LAKEWOOD CO 80232 31,000.00
49 SBC102 800440083 NELL KRISTIN A 101 DAN DRIVE PITTSBURGH PA 15216 110,000.00
49 SBC102 800440604 ERVIN ROBIN 315 MADISON AVENUE BRENTWOOD NY 11717 30,000.00
49 SBC102 800440794 BOLLINGER JOHN H 1304 NORTH 150 EAST SPRINGVILLE UT 84663 50,000.00
49 SBC102 800442204 RUTHERFORD MEI L 5322 EAST 108TH PLACE THORNTON CO 80223 82,500.00
49 SBC102 800442212 RENDOS LINDA K 1668 WASHINGTON ROAD APOLLO PA 15613 34,260.00
49 SBC102 800442493 GUTHRIE KIRK B 2225 EAST CORTEZ STREET PHOENIX AZ 85028 30,000.00
49 SBC102 800442972 WILLIAMS STEPHONE J 4607 BETHEL CHURCH ROAD COLUMBIA SC 29206 25,900.00
49 SBC102 800444689 DUGANICH DIANE 1631 MCMINN STREET ALIQUIPPA PA 15001 21,695.00
49 SBC102 800445017 BURDEAUX STEVEN C 650 WEST HAWTHORN STREET LOUISVILLE CO 80027 112,524.00
49 SBC102 800445496 SMITH JOSEPH PAUL JR 4820 ANCONA ROAD COCOA FL 32927 20,400.00
49 SBC102 800445777 GONZALEZ H ALBERT 8601 HULSEY ROAD TAMPA FL 33634 31,930.00
49 SBC102 800446692 NEILSON KENNETH F 150 EAST 100 SOUTH WASHINGTON UT 84780 35,500.00
49 SBC102 800447559 MILES RUPERT 32 BAYVIEW AVENUE NORWALK CT 06854 52,000.00
49 SBC102 800451213 POWER GAYLA J 1090 LAYFAYETTE ST #304 DENVER CO 80218 27,741.00
49 SBC102 800451684 OSBORN DAVID M 1163 TREELINE DRIVE ALLENTOWN PA 18103 33,750.00
49 SBC102 800452575 DAVIS HOWARD RUSSELL RT 3 BOX 48 SANDERS STREET HOPE MILLS NC 28348 57,800.00
49 SBC102 800454506 NELSON DENNIS O SR 221 FONDERN ROAD HOPE MILLS NC 28348 66,600.00
49 SBC102 800455008 CAYSON JAQUELINE B 1103 EAST HIDDEN VALLEY DR SANDY UT 84094 30,020.00
49 SBC102 800455016 ASHTON WILLIAM 13 RECREATION LANE HUNTINGTON NY 11743 28,500.00
49 SBC102 800455636 BRANHAM KENNETH C 4816 COUNTRY TRAILS DRIVE POLK CITY FL 33868 32,625.00
49 SBC102 800459448 WILSON GAREY B JR 5191 WEST CRUS CORVI ROAD WEST JORDAN UT 84084 17,750.00
49 SBC102 800459596 GANNON PATRICIA A 2221 COACHMAN ROAD SPRINGHILL FL 34608 10,000.00
49 SBC102 800460925 CICCONE GARRY J 5853 SEVEN NATIONS DRIVE TOBYHANNA PA 18466 24,000.00
49 SBC102 800461774 FILECCIA NICHOLAS 1357 WALES DRIVE FORT MYERS FL 33901 33,000.00
49 SBC102 800461899 KIMBALL CHASE 1403 EAST LINDA ROSA AVE SALT LAKE CITY UT 84106 25,000.00
49 SBC102 800462541 CHAGNON LEON W 2289 BARKSDALE STREET PORT CHARLOTTE FL 33952 13,118.00
49 SBC102 800464539 PEDERSEN CRAIG G 10196 SOUTH LOCKSLEY ROAD SANDY UT 84092 20,000.00
49 SBC102 800466583 KIRKPATRICK D SCOTT 40256 EAST COLORADO AVENUE BENNETT CO 80102 27,000.00
49 SBC102 800466856 LOPEZ JOHN S 921 NORTH MORTON DRIVE SALT LAKE CITY UT 84116 46,000.00
49 SBC102 800468423 WOLLASTON NORMA F 1064 GRANDUER ST SOUTHEAST PALM BAY FL 32908 30,600.00
49 SBC108 800329013 BRIZAN HOLLIS 526 HEGMENE AVENUE BROOKLYN NY 11312 211,500.00
49 SBC108 800356990 BREDIJK DENNIS 1595 GREENLEAF COURT TOMS RIVER NJ 08753 61,250.00
49 SBC108 800358848 RAMDATH TARA 22-58 92ND STREET JACKSON HEIGHTS NY 11369 38,000.00
49 SBC108 800365124 KELLY VANESSA 1229 NORTH SPRING STREET BALTIMORE MD 21213 16,200.00
49 SBC108 800369530 PADDOCK DARREN G 3168 WEST WINCHESTER DRIVE SALT LAKE CITY UT 84119 20,400.00
49 SBC108 800374266 CZARNECKI EDMUND S 1350 TAURUS COURT MERRITT ISLAND FL 32953 95,000.00
49 SBC108 800377780 HERNANDEZ RUBEN 1937 EAST CLEARFIELD ST PHILADELPHIA PA 19134 29,750.00
49 SBC108 800388332 PLITH GERALD A 8135 14TH AVENUE SOUTHWEST SEATTLE WA 98106 30,500.00
49 SBC108 800389397 LEE JAE C 55 REGAN LANE VOORHEES NJ 08043 40,000.00
49 SBC108 800394991 HERGENRODER PAUL J 6807 OLD BOLD HILL ROAD SPRING WATER NY 11460 15,950.00
49 SBC108 800395741 SHIPE DENNIS RALPH RT 1 BOX 329 PORT REPUBLIC VA 24471 54,400.00
49 SBC108 800400731 DAUGHERTY GLENN RICHARD 15835 N 15TH STREET PHOENIX AZ 85022 55,400.00
49 SBC108 800404725 CUMMINGS ROBERT R 6860 ROSEMARY ROAD EDEN PRAIRIE MN 55346 24,000.00
49 SBC108 800406563 SEARLES WARREN L 6640 EAST JOMAX ROAD SCOTTSDALE AZ 85255 33,000.00
49 SBC108 800407926 CHRISTMANN JOHN T 253 WOODTHRUSH CIRCLE BUSHKILL PA 18324 15,400.00
49 SBC108 800412884 GIRARD CALVIN 87A COOPER STREET BROOKLYN NY 11203 166,500.00
49 SBC108 800418212 HARRELL RACHEL 8202 IRENE STREET ZEPHYRHILLS FL 33540 48,450.00
49 SBC108 800418550 BYUN UN YONG 99 RIDGE AVENUE STATEN ISLAND NY 10304 94,000.00
49 SBC108 800418980 TSOMPANIDIS WILLIAM J 7421 NEBRASKA AVENUE NEW PORT RICHEY FL 34653 77,000.00
49 SBC108 800421562 PERKINS JAMES EDWARD 1541 ISLAND OVERLOOK MOUNT PLEASANT SC 29464 42,905.00
49 SBC108 800423220 FRASER WINSTON 932 SOUTHWEST 15TH TERRACE FT LAUDERDALE FL 33312 15,000.00
49 SBC108 800428955 HICKMAN LOUIS 3009 NORTHWEST 17TH STREET OCALA FL 34475 27,900.00
49 SBC108 800431074 JENSEN BEVERLY A 4318 LEWIS AVENUE EUREKA CA 95503 19,300.00
49 SBC108 800431223 TARWATER DARIN B 324 DOE RUN CIRCLE HENDERSON NV 89012 50,206.00
49 SBC108 800432049 STROBEL LAWRENCE A 921 WEST CURRY STREET CHANDLER AZ 85224 24,330.00
49 SBC108 800432080 ROEDIGER ANNE 993 SCOTT CIRCLE DECATUR GA 30033 22,000.00
49 SBC108 800432742 HAMPTON DONALD E JR 76 HEULITT ROAD COLTS NECK NJ 07722 87,000.00
49 SBC108 800443053 OVSIOWITZ LEONARD 3710 CASTLEROCK ROAD MALIBU CA 90265 62,500.00
49 SBC108 800443913 SEYMORE DONALD L 10 NORTH MARKET STREET BLADES DE 19973 52,000.00
<CAPTION>
Cut-off Date First Original Current Scheduled
Pool Sale Principal Payment Maturity Rem Date LTV Mortgage Payment
ID ID Account Balance Date Date Term Due Ratio Rate Int & Prin
- ---------------------------------------------------------------------------------------------------------------------
<C> <C> <S> <C> <C> <C> <C> <C> <C> <C> <C>
49 SBC102 800437824 31,084.50 09/15/97 08/15/12 176.45 01/31/00 79.9 14.450 379.60
49 SBC102 800438681 58,000.00 12/17/97 11/17/17 239.54 01/31/00 84.9 13.000 679.51
49 SBC102 800439770 31,000.00 01/01/98 12/01/12 180.00 01/31/00 84.6 11.750 367.08
49 SBC102 800440083 110,000.00 12/17/97 11/17/12 179.54 01/31/00 66.2 9.500 924.94
49 SBC102 800440604 30,000.00 12/11/97 11/11/17 239.34 01/31/00 80.4 11.000 309.66
49 SBC102 800440794 50,000.00 01/01/98 12/01/12 180.00 01/31/00 89.9 11.050 569.87
49 SBC102 800442204 82,500.00 01/01/98 12/01/12 180.00 01/31/00 75.0 9.400 687.69
49 SBC102 800442212 34,260.00 12/17/97 11/17/12 179.54 01/31/00 84.9 10.300 374.47
49 SBC102 800442493 30,000.00 01/01/98 12/01/12 180.00 01/31/00 67.3 9.550 253.35
49 SBC102 800442972 25,900.00 12/11/97 11/11/17 239.34 01/31/00 79.9 12.750 298.84
49 SBC102 800444689 21,695.00 12/17/97 11/17/12 179.54 01/31/00 86.6 11.550 254.13
49 SBC102 800445017 112,524.00 01/01/98 12/01/12 180.00 01/31/00 84.9 12.000 1,157.44
49 SBC102 800445496 20,400.00 12/18/97 11/18/12 179.57 01/31/00 77.4 12.600 252.76
49 SBC102 800445777 31,930.00 12/17/97 11/17/07 119.54 01/31/00 84.9 11.750 453.50
49 SBC102 800446692 35,500.00 01/01/98 12/01/12 180.00 01/31/00 82.9 12.500 378.88
49 SBC102 800447559 52,000.00 12/17/97 11/17/12 179.54 01/31/00 79.9 13.750 605.86
49 SBC102 800451213 27,741.00 01/01/98 12/01/12 180.00 01/31/00 84.7 11.300 320.55
49 SBC102 800451684 33,750.00 12/17/97 11/17/12 179.54 01/31/00 89.9 9.990 295.93
49 SBC102 800452575 57,800.00 12/18/97 11/18/12 179.57 01/31/00 85.0 10.300 631.77
49 SBC102 800454506 66,600.00 12/19/97 11/19/12 179.61 01/31/00 90.0 11.300 769.57
49 SBC102 800455008 30,020.00 12/05/97 11/05/12 179.15 01/31/00 85.0 13.200 383.78
49 SBC102 800455016 28,500.00 12/17/97 11/17/17 239.54 01/31/00 84.8 12.250 318.79
49 SBC102 800455636 32,625.00 12/13/97 11/13/12 179.41 01/31/00 75.0 11.300 376.98
49 SBC102 800459448 17,750.00 12/01/97 11/01/17 239.00 01/31/00 87.7 12.600 202.92
49 SBC102 800459596 10,000.00 12/21/97 11/21/12 179.67 01/31/00 70.8 12.250 121.63
49 SBC102 800460925 24,000.00 12/17/97 11/17/12 179.54 01/31/00 87.5 11.050 273.54
49 SBC102 800461774 33,000.00 12/19/97 11/19/12 179.61 01/31/00 84.0 10.900 373.01
49 SBC102 800461899 25,000.00 01/01/98 12/01/12 180.00 01/31/00 89.9 11.300 243.76
49 SBC102 800462541 13,118.00 12/18/97 11/18/12 179.57 01/31/00 90.0 11.550 153.66
49 SBC102 800464539 20,000.00 01/01/98 12/01/12 180.00 01/31/00 88.8 12.600 215.00
49 SBC102 800466583 27,000.00 01/01/98 12/01/12 180.00 01/31/00 73.0 10.050 290.97
49 SBC102 800466856 46,000.00 12/05/97 11/05/12 179.15 01/31/00 89.2 12.600 494.51
49 SBC102 800468423 30,600.00 11/16/97 10/16/12 178.49 01/31/00 84.8 11.990 367.05
49 SBC108 800329013 211,433.88 10/19/97 09/19/12 177.60 01/31/00 90.0 11.600 2,110.62
49 SBC108 800356990 61,250.00 11/20/97 10/20/12 178.62 01/31/00 85.0 12.790 766.52
49 SBC108 800358848 38,000.00 12/12/97 11/12/12 179.38 01/31/00 75.2 11.800 451.19
49 SBC108 800365124 16,089.41 11/16/97 10/16/17 238.49 01/31/00 71.8 15.150 215.12
49 SBC108 800369530 20,400.00 01/01/98 12/01/12 180.00 01/31/00 79.9 13.600 266.21
49 SBC108 800374266 94,913.84 11/17/97 10/17/17 238.52 01/31/00 74.4 12.800 1,099.49
49 SBC108 800377780 29,750.00 12/19/97 11/19/27 359.61 01/31/00 85.0 12.000 306.01
49 SBC108 800388332 30,500.00 12/01/97 11/01/12 179.00 01/31/00 84.5 13.450 394.97
49 SBC108 800389397 40,000.00 11/08/97 10/08/12 178.22 01/31/00 74.2 12.500 426.90
49 SBC108 800394991 15,950.00 12/10/97 11/10/17 239.31 01/31/00 79.9 12.700 183.47
49 SBC108 800395741 54,400.00 12/25/97 11/25/27 359.80 01/31/00 80.0 8.990 437.32
49 SBC108 800400731 55,400.00 01/01/98 12/01/12 180.00 01/31/00 89.9 11.300 640.15
49 SBC108 800404725 24,000.00 01/01/98 12/01/12 180.00 01/31/00 90.0 11.050 273.54
49 SBC108 800406563 33,000.00 01/01/98 12/01/12 180.00 01/31/00 64.3 11.250 380.27
49 SBC108 800407926 15,400.00 11/27/97 10/27/12 178.85 01/31/00 89.9 11.850 183.34
49 SBC108 800412884 166,500.00 12/03/97 11/03/12 179.08 01/31/00 90.0 11.100 1,598.21
49 SBC108 800418212 48,450.00 12/12/97 11/12/17 239.38 01/31/00 85.0 11.800 526.74
49 SBC108 800418550 94,000.00 12/01/97 11/01/12 179.00 01/31/00 84.9 12.990 1,039.09
49 SBC108 800418980 77,000.00 12/21/97 11/21/27 359.67 01/31/00 70.0 9.200 630.67
49 SBC108 800421562 42,905.00 12/17/97 11/17/07 119.54 01/31/00 89.9 11.990 615.31
49 SBC108 800423220 15,000.00 12/18/97 11/18/12 179.57 01/31/00 59.3 11.100 171.43
49 SBC108 800428955 27,894.91 11/22/97 10/22/17 238.68 01/31/00 90.0 11.900 305.26
49 SBC108 800431074 19,300.00 01/01/98 12/01/12 180.00 01/31/00 84.2 13.000 213.50
49 SBC108 800431223 50,206.00 01/01/98 12/01/12 180.00 01/31/00 90.0 11.300 489.54
49 SBC108 800432049 24,330.00 01/01/98 12/01/12 180.00 01/31/00 85.0 12.000 292.00
49 SBC108 800432080 22,000.00 01/01/98 12/01/12 180.00 01/31/00 86.9 10.900 207.85
49 SBC108 800432742 87,000.00 12/20/97 11/20/12 179.64 01/31/00 80.0 13.100 969.20
49 SBC108 800443053 62,500.00 01/01/98 12/01/12 180.00 01/31/00 84.9 11.900 638.08
49 SBC108 800443913 52,000.00 12/06/97 11/06/17 239.18 01/31/00 79.7 13.900 642.86
</TABLE>
<PAGE>
<TABLE>
Page 12
ALLIANCE FUNDING
A division of Superior Bank FSB
Sale Schedule -- Group 1, Sub Pool II
1997-4 Class 1 -- Initial of Fixed Rate Mortgages -- Settlement 12/22/97
<CAPTION>
Principal
Pool Sale Zip Balance at
ID ID Account Name Address City State Code Origination
- ------------------------------------------------------------------------------------------------------------------------------------
<C> <C> <S> <C> <C> <C> <C> <C> <C>
49 SBC108 800453847 DOYLE STEVEN A 2009 ONTARIO DRIVE COLORADO SPRINGS CO 80910 23,513.00
49 SBC108 800455206 RUBENS CHARLES JR 6253 105TH TERRACE NORTH PINELLAS PARK FL 33782 12,000.00
49 SBC108 800457822 MAIN WANDA J 2 SILOPANNA COURT ANNAPOLIS MD 21403 17,400.00
49 SBC108 800458929 BUFFALO THOMAS 34-21 100TH STREET CORONA NY 11368 208,000.00
49 SBC108 800461949 SHAH SURENDRA R 2207 DOWNEY COURT SOUTH SAN FRANCISCO CA 94080 39,500.00
49 SBC108 800463440 BOSTICK WILLIAM E III 906 NORTHWEST 9TH PLACE MULBERRY FL 33860 26,250.00
49 SBC108 800466450 BUNDY ELIZABETH J 8334 95TH AVENUE NORTH LARGO FL 33777 33,600.00
49 SBC108 800471229 JENSEN SHERRI L 8709 WEST 134TH STREET APPLE VALLEY MN 55124 25,100.00
49 SBC108 800489544 FELICIANO MACARIO D 906 BROOKLAWN DRIVE BOULDER CO 80303 102,150.00
49 SBC99 800099095 LIAKIOTIS DIMITRIOS 2589 MULBERRY DRIVE SOUTH CLEARWATER FL 34621 15,400.00
49 SBC99 800284598 WHITE JANICE LOT 41 HOPESWAY DRIVE DUDLEY NC 27530 68,850.00
49 SBC99 800290124 HUSS JOHN C JR 115 SILVERDALE DR ROCHESTER NY 14609 91,000.00
49 SBC99 800306649 MILLER THOMAS M RD 1 BOX 22 PORT ROYAL PA 17082 12,647.00
49 SBC99 800308231 WONG ALAN CHI LUN 53 BITTERSWEET DRIVE GALES FERRY CT 06335 82,800.00
49 SBC99 800312977 PAVLINICH EDWARD P 1319 MARKET STREET BEAVER PA 15009 64,500.00
49 SBC99 800327546 ROSARIO EDUARDO 11-17 SASSAFRAS STREET PROVIDENCE RI 02907 72,000.00
49 SBC99 800328072 BENSON ELAINE P 3631 OVERLOOK AVE YORKTOWN HEIGHTS NY 10598 37,500.00
49 SBC99 800329427 MIRANDA JAMES 1510 LINDEN LOOP POCONO SUMMIT PA 18346 24,000.00
49 SBC99 800337313 VARVEL-BOUVI DONNA G 7555 EBSEN STREET NORTH FORT MYERS FL 33907 22,500.00
49 SBC99 800337768 LAING JOHN M 138 WEST PROSPECT STREET SOUTHHAMPTON NY 10968 100,000.00
49 SBC99 800338527 SHANNAHAN WILLIAM L III 1323 SWEETBRIAR LANE BELAIR MD 21014 33,900.00
49 SBC99 800338600 CASSETTA DEBORAH A 807 BUGATTI PLACE MORGAN HILL CA 95037 54,000.00
49 SBC99 800338873 COMACK GEORGE 1266 EAGLE DRIVE BURLINGTON WA 98233 25,000.00
49 SBC99 800339277 ROGERS NORMA H 4010/4020 N LOCKWOOD RIDGE SARASOTA FL 34230 50,000.00
49 SBC99 800341661 COOPER WESLEY 165 STERLING STREET BROOKLYN NY 11225 99,000.00
49 SBC99 800345092 THOMPSON PATRICIA H 3579 MT VERNON DRIVE EAST POINT GA 30344 26,000.00
49 SBC99 800345738 CHA CHAE D 3 MANSEL DRIVE OWINGS MILL MD 21136 17,500.00
49 SBC99 800351330 SOFTLEIGH GEORGE 356 EAST 96TH STREET BROOKLYN NY 11226 25,000.00
49 SBC99 800353914 BARNES BILLY R 2924 JAY BRIDGE ROAD DAHLONEGA GA 30533 20,800.00
49 SBC99 800354581 RULAND EDWARD G 608 KINGWOOD STREET EASTON PA 18042 85,450.00
49 SBC99 800363988 HOPPER KAREN 3101 42ND TERRACE SW NAPLES FL 34116 15,000.00
49 SBC99 800367542 DIJK HENDRIK 97-99/101-103 HUNTER ST KINGSTON NY 12401 102,000.00
49 SBC99 800370389 MCKINNES ROBERT 2020 SOUTHWEST 36TH TERRAC FT LAUDERDALE FL 33312 14,250.00
49 SBC99 800370983 GRANIERO DON E 480 EMERALD PARKWAY SUGAR HILL GA 30518 42,150.00
49 SBC99 800371163 KLEYNEN NORMAN G 1423 LAKEMONT DRIVE GRAYSON GA 30017 11,000.00
49 SBC99 800371700 MUNOZ DAVID J 1292 WEST CINDY STREET CHANDLER AZ 85224 22,850.00
49 SBC99 800373201 PEMBROKE EDWARD 29 SEWARD LANE STONY BROOK NY 11790 27,750.00
49 SBC99 800375099 SPINELLA-CUR SUZANNE 64 BROOKSIDE DRIVE STAMFORD CT 06902 35,000.00
49 SBC99 800378051 FINKBEINER ROBERT W 2492 CHELTENHAN COURT VIRGINIA BEACH VA 23454 31,500.00
49 SBC99 800381196 CHEEK TED D 240 REAVIS MOUNTAIN PKWY BALL GROUND GA 30107 31,300.00
49 SBC99 800381584 TRIBBLE LEWIS H 1009 BELMONT AVENUE FAYETTEVILLE NC 28305 28,900.00
49 SBC99 800381659 KEMP ANNA 33 PULASKI STREET BROOKLYN NY 11206 35,000.00
49 SBC99 800384331 MURRAY CHARLES B 5979 KETCH ROAD PRINCE FREDERICK MD 20678 31,300.00
49 SBC99 800385080 WOLPH DOUGLAS W 500 CASCADE DRIVE SPRINGFIELD OR 97478 16,183.00
49 SBC99 800385924 JOSEPH LYNETTE 162 HERKIMER ST BROOKLYN NY 11234 102,400.00
49 SBC99 800386468 CASSEL RODERICK M 1083 WEST 1060 NORTH FARMINGTON UT 84025 28,797.00
49 SBC99 800387144 WILLIAMSON DANIEL W 256 RIVER RIDGE CARROLLTON GA 30117 10,550.00
49 SBC99 800389132 MCKAY WILLIE ALFRED JR 1105 FRIENDLY WOODS ROAD BLYTHEWOOD SC 29016 36,000.00
49 SBC99 800389587 SHELDON DANIEL B 2664 MOUNTAIR LANE GREELEY CO 80631 15,666.00
49 SBC99 800389819 MITICH JAMES 8355 VALLEY GREEN FOGELSVILLE PA 18051 15,000.00
49 SBC99 800394678 STRICKLAND MICHAEL A 9429 SAULS ROAD RALEIGH NC 27603 68,024.00
49 SBC99 800395113 SEELOCHAN RAYMOND 105-14 91ST STREET OZONE PARK NY 11417 18,750.00
49 SBC99 800397754 THOMAS RUSSELL J 621 SOUTHWEST 8TH TERRACE CAPE CORAL FL 33991 37,150.00
49 SBC99 800397846 DERITIS ANTHONY J 16410 SAN CARLOS BLVD #485 FORT MYERS FL 33908 32,300.00
49 SBC99 800398950 BURTON ALBERT T 80 BURTON DRIVE IVA SC 29665 48,600.00
49 SBC99 800399412 GORMLEY EDWARD P 6338 S POWDERHORN ROAD MECHANICSBURG PA 17055 32,700.00
49 SBC99 800401523 CHAPPELL JAMES 1707 UNDERCLIFF AVENUE BRONX NY 10453 24,500.00
49 SBC99 800404402 HANSEN BRAD H 6551 SOUTH LOTUS WAY WEST JORDAN UT 84084 52,100.00
49 SBC99 800406027 GIBBS ROBERT JR 482 MOUNTAIN PARK TRAIL STONE MOUNTAIN GA 30087 15,800.00
49 SBC99 800407504 LEBRON EDUARDO 1114 WEST GLORIA STREET AVON PARK FL 33825 32,250.00
49 SBC99 800407702 LESLIE DAVID R 12426 PARKWOOD STREET HUDSON FL 34669 10,223.00
49 SBC99 800408262 BAKER CAROLINE 1417 LUZERNE STREET READING PA 19601 35,800.00
<CAPTION>
Cut-off Date First Original Current Scheduled
Pool Sale Principal Payment Maturity Rem Date LTV Mortgage Payment
ID ID Account Balance Date Date Term Due Ratio Rate Int & Prin
- ---------------------------------------------------------------------------------------------------------------------
<C> <C> <S> <C> <C> <C> <C> <C> <C> <C> <C>
49 SBC108 800453847 23,513.00 01/01/98 12/01/12 180.00 01/31/00 89.5 10.800 264.30
49 SBC108 800455206 12,000.00 12/24/97 11/24/12 179.77 01/31/00 84.3 11.550 140.56
49 SBC108 800457822 17,400.00 12/24/97 11/24/12 179.77 01/31/00 90.0 11.050 198.31
49 SBC108 800458929 208,000.00 12/12/97 11/12/12 179.38 01/31/00 80.0 13.750 2,423.43
49 SBC108 800461949 39,500.00 01/01/98 12/01/12 180.00 01/31/00 85.0 12.250 480.44
49 SBC108 800463440 26,250.00 12/18/97 11/18/12 179.57 01/31/00 75.0 13.150 334.72
49 SBC108 800466450 33,600.00 12/24/97 11/24/17 239.77 01/31/00 70.0 8.900 300.15
49 SBC108 800471229 25,100.00 12/26/97 11/26/12 179.84 01/31/00 89.9 10.900 283.71
49 SBC108 800489544 102,150.00 01/01/98 12/01/12 180.00 01/31/00 84.9 9.400 1,060.52
49 SBC99 800099095 15,160.94 06/09/97 05/09/12 173.23 01/31/00 64.9 11.500 179.90
49 SBC99 800284598 68,850.00 12/01/97 11/01/17 239.00 01/31/00 85.0 12.650 789.52
49 SBC99 800290124 90,662.33 11/01/97 10/01/17 238.00 01/31/00 85.7 11.350 961.06
49 SBC99 800306649 12,553.23 10/26/97 09/26/07 117.83 01/31/00 89.9 12.450 184.76
49 SBC99 800308231 82,780.85 10/10/97 09/10/12 177.30 01/31/00 84.9 12.950 912.70
49 SBC99 800312977 64,500.00 12/01/97 11/01/12 179.00 01/31/00 75.0 11.750 763.76
49 SBC99 800327546 72,000.00 12/06/97 11/06/12 179.18 01/31/00 90.0 10.250 645.19
49 SBC99 800328072 37,500.00 11/28/97 10/28/12 178.88 01/31/00 68.3 12.500 400.22
49 SBC99 800329427 23,851.76 12/03/97 11/03/12 179.08 01/31/00 84.1 12.600 297.37
49 SBC99 800337313 22,455.60 10/17/97 09/17/12 177.53 01/31/00 75.0 12.300 274.40
49 SBC99 800337768 100,000.00 11/22/97 10/22/12 178.68 01/31/00 79.7 11.400 982.67
49 SBC99 800338527 33,900.00 11/01/97 10/01/17 238.00 01/31/00 84.8 12.800 392.34
49 SBC99 800338600 54,000.00 11/01/97 10/01/12 178.00 01/31/00 84.9 12.200 563.78
49 SBC99 800338873 25,000.00 12/01/97 11/01/12 179.00 01/31/00 78.3 10.400 274.80
49 SBC99 800339277 49,734.38 10/23/97 09/23/27 357.73 01/31/00 58.8 10.800 468.63
49 SBC99 800341661 98,927.72 10/11/97 09/11/27 357.34 01/31/00 60.0 15.500 1,291.47
49 SBC99 800345092 25,929.69 11/20/97 10/20/12 178.62 01/31/00 81.6 12.950 286.60
49 SBC99 800345738 17,442.16 10/26/97 09/26/12 177.83 01/31/00 78.5 13.400 226.04
49 SBC99 800351330 24,663.61 12/01/97 11/01/12 179.00 01/31/00 11.3 11.450 246.62
49 SBC99 800353914 20,764.73 10/12/97 09/12/12 177.37 01/31/00 65.0 12.550 257.04
49 SBC99 800354581 85,450.00 10/08/97 09/08/12 177.24 01/31/00 65.9 11.750 862.54
49 SBC99 800363988 14,855.23 11/28/97 10/28/12 178.88 01/31/00 46.2 13.990 199.66
49 SBC99 800367542 102,000.00 11/27/97 10/27/27 358.85 01/31/00 85.0 8.900 813.39
49 SBC99 800370389 14,249.57 11/01/97 10/01/12 178.00 01/31/00 84.7 12.400 174.71
49 SBC99 800370983 42,030.82 11/21/97 10/21/12 178.65 01/31/00 85.0 11.750 499.11
49 SBC99 800371163 11,000.00 12/01/97 11/01/12 179.00 01/31/00 90.0 11.300 127.11
49 SBC99 800371700 22,832.82 11/07/97 10/07/17 238.19 01/31/00 87.7 12.450 258.80
49 SBC99 800373201 27,750.00 11/21/97 10/21/12 178.65 01/31/00 85.0 13.500 317.85
49 SBC99 800375099 34,943.69 10/17/97 09/17/17 237.53 01/31/00 79.9 12.250 391.50
49 SBC99 800378051 31,496.94 11/24/97 10/24/12 178.75 01/31/00 82.9 13.300 404.79
49 SBC99 800381196 31,279.74 11/01/97 10/01/12 178.00 01/31/00 89.9 12.600 336.49
49 SBC99 800381584 28,881.16 11/22/97 10/22/12 178.68 01/31/00 87.7 11.050 329.38
49 SBC99 800381659 35,000.00 12/03/97 11/03/12 179.08 01/31/00 45.8 11.250 403.32
49 SBC99 800384331 31,300.00 12/01/97 11/01/12 179.00 01/31/00 84.9 12.000 375.65
49 SBC99 800385080 16,121.50 12/01/97 11/01/12 179.00 01/31/00 85.0 11.600 190.08
49 SBC99 800385924 102,311.03 08/01/97 07/01/27 355.00 01/31/00 80.0 11.990 1,052.51
49 SBC99 800386468 28,797.00 12/01/97 11/01/12 179.00 01/31/00 89.2 11.400 282.98
49 SBC99 800387144 10,550.00 12/01/97 11/01/12 179.00 01/31/00 89.9 11.300 121.91
49 SBC99 800389132 36,000.00 11/27/97 10/27/12 178.85 01/31/00 80.0 10.650 401.30
49 SBC99 800389587 15,666.00 12/01/97 11/01/12 179.00 01/31/00 89.9 11.400 182.01
49 SBC99 800389819 14,835.77 11/01/97 10/01/07 118.00 01/31/00 84.0 12.100 216.08
49 SBC99 800394678 68,024.00 11/30/97 10/30/12 178.95 01/31/00 89.9 11.550 796.81
49 SBC99 800395113 18,653.96 11/24/97 10/24/12 178.75 01/31/00 89.9 12.350 229.27
49 SBC99 800397754 37,150.00 12/01/97 11/01/12 179.00 01/31/00 79.9 10.990 422.01
49 SBC99 800397846 32,221.03 11/23/97 10/23/12 178.72 01/31/00 85.0 12.150 390.78
49 SBC99 800398950 48,546.86 11/14/97 10/14/17 238.42 01/31/00 90.0 12.450 550.46
49 SBC99 800399412 32,700.00 11/03/97 10/03/12 178.06 01/31/00 90.0 11.300 318.84
49 SBC99 800401523 24,405.98 12/01/97 11/01/12 179.00 01/31/00 89.8 10.900 276.93
49 SBC99 800404402 52,028.23 11/20/97 10/20/12 178.62 01/31/00 84.9 12.450 640.45
49 SBC99 800406027 15,800.00 11/28/97 10/28/12 178.88 01/31/00 76.9 13.500 180.98
49 SBC99 800407504 32,250.00 12/01/97 11/01/17 239.00 01/31/00 75.0 13.000 377.83
49 SBC99 800407702 10,223.00 12/01/97 11/01/12 179.00 01/31/00 85.0 11.750 121.05
49 SBC99 800408262 35,800.00 12/01/97 11/01/12 179.00 01/31/00 84.4 10.650 399.07
</TABLE>
<PAGE>
<TABLE>
Page 13
ALLIANCE FUNDING
A division of Superior Bank FSB
Sale Schedule -- Group 1, Sub Pool II
1997-4 Class 1 -- Initial of Fixed Rate Mortgages -- Settlement 12/22/97
<CAPTION>
Principal
Pool Sale Zip Balance at
ID ID Account Name Address City State Code Origination
- ------------------------------------------------------------------------------------------------------------------------------------
<C> <C> <S> <C> <C> <C> <C> <C> <C>
49 SBC99 800408379 SPRINGER KAREN E 452 SOUTH MARYFIELD DRIVE SALT LAKE CITY UT 84108 100,000.00
49 SBC99 800409427 HOOVER PHILLIP C 4504 WEST MARDI GRAS LANE WEST JORDAN UT 84088 26,640.00
49 SBC99 800409567 CRIHFIELD PAUL R 6450 WEST 108TH PLACE WESTMINSTER CO 80020 37,821.00
49 SBC99 800409849 HARRIS EDWARD J 18137 NICKS DRIVE SPRING HILL FL 34610 26,400.00
49 SBC99 800410144 BINGHAM BRAD B 2968 NORTH 1350 EAST NORTH OGDEN UT 84414 46,500.00
49 SBC99 800410417 GAMANGASSO ANTHONY W 6939 SOUTH MULLIEN DRIVE WEST JORDAN UT 84084 26,579.00
49 SBC99 800410607 STULLER JANE H 2458 GOLF LINKS CIRCLE SANTA CLARA CA 95050 91,400.00
49 SBC99 800411084 TRUE ARTHUR W 3057 NORTH 89TH AVENUE PHOENIX AZ 85037 11,325.00
49 SBC99 800411324 MOSKOWITZ MARY JANE 8814 WEST QUARTO AVENUE LITTLETON CO 80128 39,500.00
49 SBC99 800411373 ROBINSON THEODORE M JR 514-16 E KING STREET LANCASTER PA 17602 58,800.00
49 SBC99 800412124 HAMPTON FRED 2616 EAST MONTE CRISTO AVE PHOENIX AZ 85032 51,800.00
49 SBC99 800413866 RIVERA FRANK 47 GLADYS AVE HEMPSTEAD NY 11550 30,100.00
49 SBC99 800414377 WILSON CATHERINE A 8140 43RD STREET NORTH PINELLAS PARK FL 33781 21,500.00
49 SBC99 800414401 DYER TRUDY C 1427 BROWNING STREET CLEARWATER FL 33765 16,400.00
49 SBC99 800415754 WALLICK NICHOLAS 2 HEMLOCK DRIVE POTTSVILLE PA 17901 30,000.00
49 SBC99 800417107 HENLINE TIMOTHY 10919 PINTO DRIVE HUDSON FL 34669 35,000.00
49 SBC99 800417354 DOIG SUSAN T 10052 WADDELL STREET NEW PORT RICHEY FL 34654 27,750.00
49 SBC99 800418022 PEREZ JOSE ANTONIO 1106 CHRISTIAN TERRACE IMMOKALEE FL 34142 30,000.00
49 SBC99 800418220 POMPEY LINDA C 4575 OLD BELEWS CREEK ROAD WINSTON SALEM NC 27101 33,400.00
49 SBC99 800418717 ROWLEY RONALD K 3832 SOUTH 6250 WEST WEST VALLEY CITY UT 84128 14,000.00
49 SBC99 800418733 VENTRICE JOHN M 4028 HEYWOOD RD SEAFORD NY 11783 20,700.00
49 SBC99 800419400 ANDERSON MINNIE 2304 BEECHER CIRCLE ATLANTA GA 30311 64,000.00
49 SBC99 800420416 SHEPPARD TONNIE 163 LEXINGTON AVE BROOKLYN NY 11216 25,000.00
49 SBC99 800421281 NORTON WILLIAM E 65 GREEN TREE DRIVE SOUTH HYDE PARK NY 12538 40,000.00
49 SBC99 800422750 ROMO DANIEL E 2600 COLONADE AVENUE NORTH PORT FL 34286 12,000.00
49 SBC99 800422867 RUSSELL HEADLEY 1231 HARROD AVENUE BRONX NY 10472 207,000.00
49 SBC99 800423436 FRIEND WILLIAM S 376 DEMOTT AVENUE ROCKVILLE CENTRE NY 11570 167,000.00
49 SBC99 800423592 HICKS WILLIAM SHERMAN 13407 NORTH 75TH STREET LONGMONT CO 80503 46,750.00
49 SBC99 800426967 RUBIN RON J 943 24TH AVENUE SEATTLE WA 98122 82,500.00
49 SBC99 800429680 BUXIN LINDA K 1157 LOVELY LANE NORTH FORT MYERS FL 33903 15,000.00
49 SBC99 800431041 CUTLER PHILIP D 646 NORTH 400 WEST BRIGHAM CITY UT 84302 18,556.00
49 SBC99 800432262 HARPER JAMES LEROY 433 HIGHFIELD AVENUE CANONSBURG PA 15317 40,800.00
49 SBC99 800432700 BERG GERALD RAY 4743 SOUTH GLENCREST LANE MURRAY UT 84107 90,000.00
49 SBC99 800432841 KEOPRADITH BOUASY 5269 100TH AVENUE NORTH PINELLAS PARK FL 33782 28,500.00
49 SBC99 800435125 THOMPSON JEFFREY R 3747 NEW BRIGHTON ROAD ARDEN HILLS MN 55112 11,729.00
49 SBC99 800435620 AMBROSIO JOSEPH 18 WORTENDYKE AVENUE EMERSON NJ 07630 117,700.00
49 SBC99 800436990 MORAN SONNY R 517 LAKEVIEW DRIVE OLDSMAR FL 34677 28,300.00
49 SBC99 800437006 ROGY RONALD R 411 88TH AVENUE NORTH ST PETERSBURG BEACH FL 33706 12,000.00
49 SBC99 800437519 WHITAKER E E 131 NORTHDALE ROAD LAWRENCEVILLE GA 30045 210,000.00
49 SBC99 800444879 HALL KELLI 1715 SOUTH HERVEY STREET BOISE ID 83705 15,500.00
49 SBC99 800448599 TAYLOR NORMAN 412 KIER STREET KINGMAN AZ 86401 45,450.00
49 SBCL26 661455345 EFRAIN SUAREZ 2127 THIRD AVE NEW YORK NY 10001 100,000.00
49 SBCL26 661485144 MCCALLUM CYNTHIA 443 EAST 96TH STREET BROOKLYN NY 11212 124,500.00
49 SBCL26 661510255 DELEON VICTOR 600 MACE AVENUE BRONX NY 10467 191,750.00
49 SBCL26 661520577 STERN CHARLES D 211 AKA 203 MILBURN STREET ROCHESTER NY 14607 105,000.00
49 SBCL26 661538421 SANCHEZ CARLOS JR 99-101 SOUTH OXFORD STREET BROOKLYN NY 11238 450,000.00
49 SBCL26 661545350 DONZELLA GIOVANNI 349 21ST AVENUE PATERSON NJ 07501 115,500.00
49 SBCL26 661552653 TRAN DUYEN 679 SOUTH FEDERAL BLVD DENVER CO 80219 115,000.00
49 SBCL26 661556662 LOWE SHARON 426 JEFFERSON AVENUE BROOKLYN NY 11221 165,500.00
49 SBCL26 661556720 421 CHURCH A VENUE CORP 415-421 CHURCH AVE BROOKLYN NY 11218 168,000.00
49 SBCL26 661561043 AQUART MICHAEL 1738 WEEKS AVENUE BRONX NY 10457 100,000.00
49 SBCL26 661562686 PERDUE SCOTT N 513-517 CHESTNUT STREET MANCHESTER NH 03101 84,700.00
49 SBCL26 661563379 GURNETT CLAYTON R JR 9-11 EAST PARMETER STREET NEWBURGH NY 12550 135,000.00
49 SBCL26 661565689 OCCHIPINTI MARY 1420-22 W CARMEN STREET CHICAGO IL 60610 253,000.00
49 SBCL26 661579029 VTC ENTERPRI SES INC 7600 SOUTH ABERDEEN CHICAGO IL 60620 245,000.00
49 SBCL27 661452607 THOMAS JANICE L 2918 P STREET SE WASHINGTON DC 20020 88,700.00
49 SBCL27 661506956 VASQUEZ NESTOR 268 JAMAICA AVENUE BROOKLYN NY 11207 95,000.00
49 SBCL27 661521294 RUND CHERYL L 127-131 RAILROAD STREET ROCHESTER NY 14609 122,000.00
49 SBCL27 661534727 BRANCH BRENDA J 16404 EUCLID AVE CLEVELAND OH 44112 165,000.00
49 SBCL27 661534800 BRANDT RICHARD F 1175 BROAD STREET SHREWSBURY NJ 07702 143,000.00
49 SBCL27 661536011 GENOVESE LOUIS G 262-266 NORTH WINTON ROAD ROCHESTER NY 14610 129,500.00
49 SBCL27 661545343 DONZELLA GIOVANNI 54-60 PLUM STREET PATERSON NJ 07501 252,000.00
<CAPTION>
Cut-off Date First Original Current Scheduled
Pool Sale Principal Payment Maturity Rem Date LTV Mortgage Payment
ID ID Account Balance Date Date Term Due Ratio Rate Int & Prin
- ---------------------------------------------------------------------------------------------------------------------
<C> <C> <S> <C> <C> <C> <C> <C> <C> <C> <C>
49 SBC99 800408379 100,000.00 01/01/98 12/01/12 180.00 01/31/00 75.0 11.600 1,174.55
49 SBC99 800409427 26,640.00 12/01/97 11/01/12 179.00 01/31/00 90.0 11.550 312.05
49 SBC99 800409567 37,821.00 12/01/97 11/01/12 179.00 01/31/00 79.9 12.500 466.15
49 SBC99 800409849 26,400.00 12/01/97 11/01/12 179.00 01/31/00 80.0 10.900 298.41
49 SBC99 800410144 46,500.00 11/28/97 10/28/17 238.88 01/31/00 84.2 13.200 551.42
49 SBC99 800410417 26,579.00 11/01/97 10/01/17 238.00 01/31/00 79.9 15.000 349.99
49 SBC99 800410607 91,400.00 12/01/97 11/01/12 179.00 01/31/00 89.9 12.100 947.19
49 SBC99 800411084 11,325.00 12/01/97 11/01/17 239.00 01/31/00 84.6 12.400 127.87
49 SBC99 800411324 39,500.00 12/01/97 11/01/12 179.00 01/31/00 83.9 12.000 474.07
49 SBC99 800411373 58,800.00 12/01/97 11/01/12 179.00 01/31/00 70.0 10.150 637.27
49 SBC99 800412124 51,800.00 12/01/97 11/01/12 179.00 01/31/00 70.0 10.450 471.90
49 SBC99 800413866 30,100.00 11/23/97 10/23/12 178.72 01/31/00 69.9 11.800 304.99
49 SBC99 800414377 21,422.82 12/01/97 11/01/17 239.00 01/31/00 79.1 13.750 263.46
49 SBC99 800414401 16,400.00 12/01/97 11/01/12 179.00 01/31/00 79.1 12.350 200.54
49 SBC99 800415754 30,000.00 12/03/97 11/03/17 239.08 01/31/00 83.0 11.500 319.93
49 SBC99 800417107 35,000.00 12/01/97 11/01/12 179.00 01/31/00 69.3 10.800 393.42
49 SBC99 800417354 27,750.00 11/23/97 10/23/12 178.72 01/31/00 75.0 12.300 338.42
49 SBC99 800418022 30,000.00 12/01/97 11/01/12 179.00 01/31/00 62.5 11.250 345.70
49 SBC99 800418220 33,400.00 12/03/97 11/03/12 179.08 01/31/00 89.4 11.250 384.88
49 SBC99 800418717 13,896.42 11/21/97 10/21/12 178.65 01/31/00 84.5 12.000 168.02
49 SBC99 800418733 20,700.00 11/27/97 10/27/12 178.85 01/31/00 83.9 11.050 235.93
49 SBC99 800419400 63,773.64 12/01/97 11/01/12 179.00 01/31/00 80.0 8.650 635.87
49 SBC99 800420416 25,000.00 12/01/97 11/01/12 179.00 01/31/00 84.1 12.500 266.81
49 SBC99 800421281 40,000.00 12/03/97 11/03/17 239.08 01/31/00 89.8 11.050 414.24
49 SBC99 800422750 12,000.00 12/01/97 11/01/12 179.00 01/31/00 89.9 11.650 141.33
49 SBC99 800422867 207,000.00 11/27/97 10/27/12 178.85 01/31/00 90.0 12.200 2,161.15
49 SBC99 800423436 167,000.00 11/28/97 10/28/12 178.88 01/31/00 79.1 12.500 1,782.32
49 SBC99 800423592 46,750.00 12/01/97 11/01/12 179.00 01/31/00 85.0 12.500 498.94
49 SBC99 800426967 82,500.00 12/01/97 11/01/12 179.00 01/31/00 79.6 9.900 717.91
49 SBC99 800429680 15,000.00 12/01/97 11/01/12 179.00 01/31/00 84.4 11.300 173.33
49 SBC99 800431041 18,554.18 11/15/97 10/15/12 178.45 01/31/00 84.8 12.200 225.10
49 SBC99 800432262 40,800.00 12/03/97 11/03/17 239.08 01/31/00 84.9 10.300 401.87
49 SBC99 800432700 90,000.00 12/01/97 11/01/12 179.00 01/31/00 90.0 11.550 1,054.23
49 SBC99 800432841 28,500.00 12/01/97 11/01/07 119.00 01/31/00 78.2 10.250 380.59
49 SBC99 800435125 11,729.00 12/01/97 11/01/12 179.00 01/31/00 80.0 13.750 154.23
49 SBC99 800435620 117,692.08 11/28/97 10/28/12 178.88 01/31/00 79.7 12.350 1,242.48
49 SBC99 800436990 28,300.00 12/01/97 11/01/12 179.00 01/31/00 84.3 11.950 338.74
49 SBC99 800437006 12,000.00 12/01/97 11/01/17 239.00 01/31/00 78.8 12.850 139.31
49 SBC99 800437519 209,771.47 12/01/97 11/01/27 359.00 01/31/00 70.0 10.750 1,960.31
49 SBC99 800444879 15,500.00 12/01/97 11/01/12 179.00 01/31/00 85.0 12.500 165.42
49 SBC99 800448599 45,450.00 12/01/97 11/01/12 179.00 01/31/00 69.9 9.850 393.83
49 SBCL26 661455345 99,935.02 10/01/97 09/01/22 297.00 01/31/00 50.0 14.750 1,261.46
49 SBCL26 661485144 124,465.46 10/01/97 09/01/27 357.00 01/31/00 52.9 15.200 1,594.16
49 SBCL26 661510255 191,419.27 11/01/97 10/01/12 178.00 01/31/00 65.0 13.550 2,495.91
49 SBCL26 661520577 104,540.32 10/01/97 09/01/12 177.00 01/31/00 58.3 11.100 1,200.03
49 SBCL26 661538421 450,000.00 12/01/97 11/01/12 179.00 01/31/00 75.0 10.700 5,030.24
49 SBCL26 661545350 115,462.68 11/01/97 10/01/27 358.00 01/31/00 70.0 11.450 1,139.38
49 SBCL26 661552653 114,882.97 12/01/97 11/01/17 239.00 01/31/00 63.8 11.950 1,262.24
49 SBCL26 661556662 165,438.61 11/01/97 10/01/27 358.00 01/31/00 73.5 12.500 1,766.31
49 SBCL26 661556720 167,685.45 11/01/97 10/01/12 178.00 01/31/00 56.9 12.700 2,092.55
49 SBCL26 661561043 99,854.08 11/01/97 10/01/12 178.00 01/31/00 50.0 15.250 1,416.75
49 SBCL26 661562686 84,515.46 11/01/97 10/01/12 178.00 01/31/00 70.0 11.100 968.02
49 SBCL26 661563379 134,898.40 11/01/97 10/01/17 238.00 01/31/00 60.0 14.150 1,693.48
49 SBCL26 661565689 252,471.56 11/01/97 10/01/12 178.00 01/31/00 64.0 11.550 2,963.57
49 SBCL26 661579029 245,000.00 12/01/97 11/01/12 179.00 01/31/00 70.0 12.500 3,019.68
49 SBCL27 661452607 87,928.74 07/01/97 06/01/12 174.00 01/31/00 54.9 13.700 1,163.43
49 SBCL27 661506956 95,000.00 12/01/97 11/01/27 359.00 01/31/00 73.0 11.450 937.15
49 SBCL27 661521294 121,729.64 10/01/97 09/01/17 237.00 01/31/00 54.2 11.350 1,288.46
49 SBCL27 661534727 164,435.86 10/01/97 09/01/12 177.00 01/31/00 50.0 13.700 2,164.22
49 SBCL27 661534800 142,722.84 11/01/97 10/01/17 238.00 01/31/00 63.5 12.350 1,609.58
49 SBCL27 661536011 128,933.07 11/01/97 10/01/12 178.00 01/31/00 70.0 11.100 1,480.04
49 SBCL27 661545343 251,918.57 11/01/97 10/01/27 358.00 01/31/00 70.0 11.450 2,485.93
</TABLE>
<PAGE>
<TABLE>
Page 14
ALLIANCE FUNDING
A division of Superior Bank FSB
Sale Schedule -- Group 1, Sub Pool II
1997-4 Class 1 -- Initial of Fixed Rate Mortgages -- Settlement 12/22/97
<CAPTION>
Principal
Pool Sale Zip Balance at
ID ID Account Name Address City State Code Origination
- ------------------------------------------------------------------------------------------------------------------------------------
<C> <C> <S> <C> <C> <C> <C> <C> <C>
49 SBCL27 661547141 BOCCIA GIUSEPPE 318 MARTIN LUTHER KING DR JERSEY CITY NJ 07305 101,500.00
49 SBCL27 661554113 KIM SANG SU 113-13 17 19 SUTPHIN BLVD JAMAICA NY 11433 521,500.00
49 SBCL27 661562561 GREEN RICHARD E 40 COMMERCE STREET #3 HARRINGTON DE 19952 160,000.00
49 SBCL27 661565788 BELIZAIRE JEAN CLAUDE 1333 BLUE HILL AVENUE MATTAPAN MA 02126 175,000.00
49 SBCL27 661565820 AL-UQDAH NAEEM RASHAD 380 MARCUS GARVEY BLVD BROOKLYN NY 11221 200,000.00
49 SBCL27 661568949 WILLIAMS LAURA L 634-636 E 44TH ST CHICAGO IL 60615 123,700.00
49 SBCL27 661573139 MORREALE JOSEPH 1472 HERTEL AVENUE BUFFALO NY 14216 110,000.00
49 SBCL27 661574145 THOMAS JOHN E 358 MAIN MALL POUGHKEEPSIE NY 12601 112,000.00
49 SBCL27 661577759 DONZELLA GIOVANNI 296 GRAND ST PATERSON NJ 07501 91,000.00
49 SBCL27 661578989 PERDUE SCOTT N 205-213 PINE STREET MANCHESTER NH 03103 265,000.00
49 SBCL27 661587378 SOTO RUBEN 116-18 N GENESEE ST WAUKEGAN IL 60018 130,000.00
49 SBCL27 661589945 RINELLA VIOLET 718 WEST 31ST STREET CHICAGO IL 60616 80,300.00
49 SBCLNF 661514596 MARQUEZ MANUEL 50-52 MARTIN LUTHER KING D JERSEY CITY NJ 07087 175,000.00
49 SBCLNF 661523126 LESHAJ & SON S INC 6255 BROADWAY BRONX NY 10471 120,000.00
49 SBCLNF 661534412 OWUSU-AFRIYI KWASI 106 PENNSYLVANIA AVE BROOKLYN NY 11207 97,500.00
49 SBCLNF 661554188 TAGLIARINO EDWARD A 51 55 56-60 WASHINGTON ST LOCKPORT NY 14094 300,000.00
49 SBCLNF 661557231 KIA HOSSEIN M 236 ROOSEVELT DRIVE MONROE CT 06468 135,000.00
49 SBCLNF 661558023 CAMULAIRE ARNOLD 3020 AVENUE D BROOKLYN NY 10475 245,000.00
49 SBCLNF 661558635 DAVIS HOWARD L 101 EAST LAFAYETTE AVE SYRACUSE NY 13205 170,000.00
49 SBCLNF 661560086 PATERSON ISL AMIC MISSI 438 UNION AVENUE PATERSON NJ 07522 78,000.00
49 SBCLNF 661563320 ANKYT REALTY CORP 273-275 PAULISON STREET PASSAIC NJ 07055 277,500.00
49 SBCLNF 661574046 JACKSON EILEEN 184 SIGOURNEY STREET HARTFORD CT 06101 269,500.00
49 SBCLNF 661580050 1299 EASTERN PARKWAY 1299 EASTERN PARKWAY BROOKLYN NY 11210 430,000.00
49 SBCLNF 661586537 GORDON SONIA W 10 WALNUT STREET & NEW BRITAIN CT 06050 250,000.00
49 SBCLNF 661586545 GORDON SONIA W 27-31 GLEN STREET NEW BRITAIN CT 06050 210,000.00
49 SBCLNF 661586552 GORDON SONIA W 1 HUNTINGTON STREET HARTFORD CT 06105 175,000.00
49 SBCLNF 661595645 1661 PITKIN AVENUE CORP 952 A FLATBUSH AVENUE & BROOKLYN NY 11229 499,500.00
49 SBCLNF 661596445 YVON PIERRE 343 LINDEN STREET BROOKLYN NY 11230 237,500.00
49 SBCLNF 661606160 JACKSON SYLVESTER 55 TILLINGHAST STREET NEWARK NJ 07108 63,000.00
49 SUPER FIX 800357600 HUSTED MARK D 11 JOHN STREET STONY POINT NY 10980 33,533.00
49 SUPER FIX 800376337 LYLES PRISCILLA 6904 REINDEER ROAD TAMPA FL 33619 16,500.00
49 SUPER FIX 800394876 ABUNDO VALENTIN 2816 11TH STREET COURT EAS BRADENTON FL 34208 22,500.00
49 SUPER FIX 800395469 WHEADON DAVID 3293 WEST 11975 SOUTH RIVERTON UT 84065 20,000.00
49 SUPER FIX 800407751 DUE THOMAS H 671 66TH AVENUE SOUTH ST PETERSBURG FL 33705 73,500.00
49 SUPER FIX 800410383 WOLF DOUGLAS 844 S RIVER ROAD HALIFAX PA 17032 20,000.00
49 SUPER FIX 800419947 BELLE CLARA 146-12 105TH AVENUE JAMAICA NY 11435 73,500.00
49 SUPER FIX 800421984 SNOKE DONALD E II 159 BEETEM HOLLOW ROAD NEWVILLE PA 17241 70,000.00
49 SUPER FIX 800422065 MOSLEY BILLY G 117 SASAFRASS DRIVE MIDDLETOWN DE 19709 42,735.00
49 SUPER FIX 800424731 TESHEIRA CHARLES 430 HART STREET BROOKLYN NY 11221 125,000.00
49 SUPER FIX 800427213 SMINKEY THOMAS R 301 BUTLER ROAD SPRINGFIELD PA 19064 22,000.00
49 SUPER FIX 800430530 ZARO MARGARITA 3432 GATES PLACE BRONX NY 10467 116,500.00
49 SUPER FIX 800434714 MONTE ROBERT A 5021 BRIDGEPORT DRIVE SAFETY HARBOR FL 34695 30,200.00
49 SUPER FIX 800435109 JOHNSON HAROLD CORNELL 4304 MESSICK ROAD RHODESDALE MD 21659 22,500.00
49 SUPER FIX 800438194 WHITSON JOHN A 445 SOUTH LINDSEY STREET CASTLE ROCK CO 80104 24,140.00
49 SUPER FIX 800439192 GOGNO FRANK J 218 BRIER CITY ROAD POTTSVILLE PA 17901 73,250.00
49 SUPER FIX 800444507 MATTHEWS MICHAEL G 20 RIVER ROAD TUXEDO PARK NY 10987 25,000.00
49 SUPER FIX 800450991 RUDLOFF DEKE J 1929 BURLINGTON AVENUE NOR ST PETERSBURG FL 33713 52,000.00
49 SUPER FIX 800451304 SLUSSER LEONARD KIMBALL 2448 EAST MELONY DRIVE SALT LAKE CITY UT 84124 52,000.00
49 SUPER FIX 800451973 MEYER JOANNE 3715 SARAH DRIVE WANTAGH NY 11793 40,500.00
49 SUPER FIX 800462988 CONTI STEPHEN J 51 SENECA STREET STATEN ISLAND NY 10310 15,000.00
49 SUPER FIX 800467441 MATTESON MARY E 3838 SOUTH GOLDEN COURT DENVER CO 80235 47,000.00
---------------------------- -------------
857 Sale Total 47,013,703.00
50 MLC700 800183972 BASTIAN DONALD R 37 GARLAND LN WILLINGBORO NJ 08046 19,214.00
50 MLC700 800261307 GIANAKOS GEORGE 21 HICKORY LANE WATERFORD CT 06385 19,900.00
50 MLC700 800277048 BARRY MARK T 5 HOMESTEAD RD SEA GIRT NJ 08750 40,000.00
50 MLC700 800291924 MULLIN RICHARD J 1430 EAGLE WAY PARK CITY UT 84060 175,000.00
50 MLC700 800304602 ALLEN JAMES F 9844 MIRAMAR STREET NEW PORT RICHEY FL 34654 35,400.00
50 MLC700 800306821 OSTERLUND JAN A 1515 SLATE HILL ROAD CAMP HILL PA 17011 68,700.00
50 MLC700 800307258 HALOTA STEVEN BROOKS 14640 SENECA RD DARNESTOWN MD 20874 58,350.00
50 MLC700 800313892 BARRON-AGUIR TRANQUILIN 780 SOUTH DALE COURT DENVER CO 80219 22,464.00
50 MLC700 800314049 KRAUSE BRIAN L 38 CORN PLANTER ROAD WILLOW STREET PA 17584 44,000.00
<CAPTION>
Cut-off Date First Original Current Scheduled
Pool Sale Principal Payment Maturity Rem Date LTV Mortgage Payment
ID ID Account Balance Date Date Term Due Ratio Rate Int & Prin
- ----------------------------------------------------------------------------------------------------------------------
<C> <C> <S> <C> <C> <C> <C> <C> <C> <C> <C>
49 SBCL27 661547141 101,500.00 12/01/97 11/01/12 179.00 01/31/00 70.0 11.100 1,160.03
49 SBCL27 661554113 521,500.00 12/01/97 11/01/17 239.00 01/31/00 70.0 11.000 5,382.86
49 SBCL27 661562561 160,000.00 12/01/97 11/01/27 359.00 01/31/00 74.4 11.450 1,578.37
49 SBCL27 661565788 175,000.00 01/01/98 12/01/12 180.00 01/31/00 50.0 14.900 2,437.30
49 SBCL27 661565820 200,000.00 12/01/97 11/01/17 239.00 01/31/00 60.6 12.800 2,314.71
49 SBCL27 661568949 123,700.00 12/01/97 11/01/12 179.00 01/31/00 74.9 12.350 1,512.58
49 SBCL27 661573139 110,000.00 12/01/97 11/01/22 299.00 01/31/00 62.8 12.600 1,207.61
49 SBCL27 661574145 112,000.00 12/01/97 11/01/12 179.00 01/31/00 70.0 12.500 1,380.43
49 SBCL27 661577759 91,000.00 12/01/97 11/01/27 359.00 01/31/00 70.0 11.450 897.70
49 SBCL27 661578989 265,000.00 12/01/97 11/01/12 179.00 01/31/00 69.7 11.100 3,028.64
49 SBCL27 661587378 130,000.00 01/01/98 12/01/12 180.00 01/31/00 52.0 11.150 1,489.84
49 SBCL27 661589945 80,300.00 01/01/98 12/01/22 300.00 01/31/00 57.3 12.400 869.57
49 SBCLNF 661514596 174,754.12 12/01/97 11/01/27 359.00 01/31/00 70.0 11.850 1,779.89
49 SBCLNF 661523126 120,000.00 12/01/97 11/01/02 59.00 01/31/00 06.0 10.990 2,608.49
49 SBCLNF 661534412 97,500.00 01/01/98 12/01/22 300.00 01/31/00 65.0 11.600 998.19
49 SBCLNF 661554188 300,000.00 12/01/97 11/01/17 239.00 01/31/00 65.2 14.200 3,774.22
49 SBCLNF 661557231 135,000.00 12/01/97 11/01/22 299.00 01/31/00 61.3 11.200 1,342.72
49 SBCLNF 661558023 245,000.00 01/01/98 12/01/27 360.00 01/31/00 70.0 11.500 2,426.21
49 SBCLNF 661558635 170,000.00 01/01/98 12/01/12 180.00 01/31/00 48.5 15.050 2,385.12
49 SBCLNF 661560086 78,000.00 01/01/98 12/01/27 360.00 01/31/00 75.0 11.850 793.32
49 SBCLNF 661563320 277,500.00 12/01/97 11/01/12 179.00 01/31/00 75.0 11.500 3,241.73
49 SBCLNF 661574046 269,500.00 12/01/97 11/01/12 179.00 01/31/00 70.0 12.100 3,251.81
49 SBCLNF 661580050 430,000.00 01/01/98 12/01/12 180.00 01/31/00 71.6 11.100 4,914.40
49 SBCLNF 661586537 250,000.00 01/01/98 12/01/12 180.00 01/31/00 63.4 11.100 2,857.21
49 SBCLNF 661586545 210,000.00 01/01/98 12/01/12 180.00 01/31/00 70.0 11.100 2,400.06
49 SBCLNF 661586552 175,000.00 01/01/98 12/01/12 180.00 01/31/00 63.6 11.100 2,000.05
49 SBCLNF 661595645 499,500.00 01/01/98 12/01/12 180.00 01/31/00 64.8 11.100 5,708.71
49 SBCLNF 661596445 237,500.00 01/01/98 12/01/12 180.00 01/31/00 70.0 11.950 2,842.76
49 SBCLNF 661606160 63,000.00 01/01/98 12/01/12 180.00 01/31/00 60.0 12.900 792.96
49 SUPER FIX 800357600 33,501.10 10/25/97 09/25/17 237.80 01/31/00 89.8 12.450 379.80
49 SUPER FIX 800376337 16,492.86 11/22/97 10/22/17 238.68 01/31/00 35.2 10.750 167.51
49 SUPER FIX 800394876 22,500.00 12/26/97 11/26/07 119.84 01/31/00 46.8 9.250 288.07
49 SUPER FIX 800395469 19,911.08 12/01/97 11/01/12 179.00 01/31/00 90.0 12.350 244.56
49 SUPER FIX 800407751 73,500.00 12/13/97 11/13/27 359.41 01/31/00 70.0 9.250 604.67
49 SUPER FIX 800410383 20,000.00 11/27/97 10/27/07 118.85 01/31/00 34.4 8.900 252.27
49 SUPER FIX 800419947 73,500.00 12/24/97 11/24/27 359.77 01/31/00 49.0 11.250 713.88
49 SUPER FIX 800421984 70,000.00 12/25/97 11/25/27 359.80 01/31/00 83.3 12.300 736.23
49 SUPER FIX 800422065 42,735.00 11/20/97 10/20/17 238.62 01/31/00 90.0 10.900 438.20
49 SUPER FIX 800424731 125,000.00 12/24/97 11/24/12 179.77 01/31/00 78.1 11.000 1,420.75
49 SUPER FIX 800427213 22,000.00 12/05/97 11/05/07 119.15 01/31/00 89.8 11.850 313.73
49 SUPER FIX 800430530 116,500.00 12/25/97 11/25/12 179.80 01/31/00 64.7 8.400 1,140.40
49 SUPER FIX 800434714 30,200.00 12/24/97 11/24/12 179.77 01/31/00 79.9 11.990 310.41
49 SUPER FIX 800435109 22,500.00 12/25/97 11/25/12 179.80 01/31/00 50.0 12.650 279.52
49 SUPER FIX 800438194 24,140.00 01/01/98 12/01/12 180.00 01/31/00 89.9 11.050 230.80
49 SUPER FIX 800439192 73,250.00 12/24/97 11/24/17 239.77 01/31/00 89.9 11.050 758.57
49 SUPER FIX 800444507 25,000.00 12/24/97 11/24/17 239.77 01/31/00 50.0 10.300 246.25
49 SUPER FIX 800450991 52,000.00 12/26/97 11/26/12 179.84 01/31/00 74.2 10.500 475.66
49 SUPER FIX 800451304 52,000.00 01/01/98 12/01/12 180.00 01/31/00 69.4 9.050 420.28
49 SUPER FIX 800451973 40,500.00 12/24/97 11/24/17 239.77 01/31/00 84.8 11.750 438.90
49 SUPER FIX 800462988 15,000.00 12/24/97 11/24/07 119.77 01/31/00 89.8 11.550 211.32
49 SUPER FIX 800467441 47,000.00 01/01/98 12/01/12 180.00 01/31/00 84.8 12.250 571.66
--- ------------- ------ -----------------------------
857 46,971,249.31 210.79 77.1 11.602 510,738.87
50 MLC700 800183972 19,214.00 06/16/97 05/16/12 173.46 01/31/00 79.9 16.000 258.38
50 MLC700 800261307 19,750.66 08/07/97 07/07/12 175.17 01/31/00 90.0 11.400 231.21
50 MLC700 800277048 39,867.89 09/15/97 08/15/12 176.45 01/31/00 76.8 11.625 399.94
50 MLC700 800291924 175,000.00 10/01/97 09/01/27 357.00 01/31/00 71.5 10.600 1,613.89
50 MLC700 800304602 35,340.38 09/26/97 08/26/17 236.81 01/31/00 88.5 11.850 386.09
50 MLC700 800306821 67,892.60 11/24/97 10/24/17 238.75 01/31/00 85.0 11.850 749.27
50 MLC700 800307258 58,223.85 11/01/97 10/01/12 178.00 01/31/00 85.0 12.100 604.69
50 MLC700 800313892 22,464.00 11/01/97 10/01/12 178.00 01/31/00 79.9 13.600 293.15
50 MLC700 800314049 43,911.92 10/01/97 09/01/12 177.00 01/31/00 89.8 12.000 528.08
</TABLE>
<PAGE>
<TABLE>
Page 15
ALLIANCE FUNDING
A division of Superior Bank FSB
Sale Schedule -- Group 1, Sub Pool II
1997-4 Class 1 -- Initial of Fixed Rate Mortgages -- Settlement 12/22/97
<CAPTION>
Principal
Pool Sale Zip Balance at
ID ID Account Name Address City State Code Origination
- ------------------------------------------------------------------------------------------------------------------------------------
<C> <C> <S> <C> <C> <C> <C> <C> <C>
50 MLC700 800314163 ERICKSON CHARLES HUGO 9804 EAST SECOND STREET TUCSON AZ 85748 34,300.00
50 MLC700 800315855 BURNETTE JAMES KENNETH 5405 GIRARD AVENUE NORTH BROOKLYN CENTER MN 55430 10,639.00
50 MLC700 800317646 ZINK ELMER A 403 EAST MARKET STREET MARIETTA PA 17547 24,035.00
50 MLC700 800321150 CARDWELL DAVID L 901 MAIN STREET SLATINGTON PA 18080 84,800.00
50 MLC700 800321861 HAYNES FITZGERALD 206-15 WHITEHALL TERRACE QUEENS VILLAGE NY 11426 78,000.00
50 MLC700 800325193 CARVALHO JANET V 2365 BIG THOMPSON CANYON DRAKE CO 80515 25,000.00
50 MLC700 800326357 DENIS LINUS 8 LOWE COURT RINGOES NJ 08551 272,115.00
50 MLC700 800327744 PATRICK LEON G 120-29 167TH STREET JAMAICA NY 11434 25,000.00
50 MLC700 800335085 BAILEY PHILLIP M 4710 WOODVILLE STREET LAKE WALES FL 33820 26,000.00
50 MLC700 800336794 BEST JAY 412 BEACH 38TH STREET FAR ROCKAWAY NY 11691 132,000.00
50 MLC700 800337107 DAVIS WILLIAM P. 126 GUY AVENUE INTERLACHEN FL 32148 52,200.00
50 MLC700 800339087 VAN BUSKIRK DAVID H 660 EAST CENTER STREET STERLING UT 84665 30,000.00
50 MLC700 800341570 SAVIN MARVIN S 7796 MANDARIN DRIVE BOCA RATON FL 33433 84,900.00
50 MLC700 800342362 FLEMING FREDERICK R 403 ANNA MARIE DRIVE CRANBERRY TOWNSHIP PA 16066 25,825.00
50 MLC700 800343832 DEC WALTER 4 DARTMOUTH AVE UNIT 2B BRIDGEWATER NJ 08807 15,000.00
50 MLC700 800346512 SCHOBER MICHAEL 9506 SALEM ROAD NE ALBUQUERQUE NM 87112 13,200.00
50 MLC700 800346819 DRENNEN RUSSEL M JR 207 RIVER ROAD PEQUEA PA 17565 38,000.00
50 MLC700 800348732 BLATZ GLORIA JEAN 474 GRANT STREET CARNEGIE PA 15106 20,800.00
50 MLC700 800352726 DAVIS MARY ANN 707 & 707 1/2 SOUTHEAST 3N BOYTON BEACH FL 33435 107,000.00
50 MLC700 800353484 CORVINE ANTOINETTE A 120 HEMPSTEAD ROAD HAMILTON NJ 08610 16,000.00
50 MLC700 800355893 WALKER LAURA L 805 N GRANDVIEW AVENUE MCKEESPORT PA 15132 12,843.00
50 MLC700 800358541 JAIME LUIS E 6412 WEST BERKELEY ROAD PHOENIX AZ 85035 13,920.00
50 MLC700 800360257 FOGARTY JAMES M 178 HAVERHILL AVENUE NORTH KINGSTOWN RI 02852 22,500.00
50 MLC700 800364093 LEE GREG E 4595 SOUTH LOWELL BOULEVAR DENVER CO 80236 27,300.00
50 MLC700 800368862 MCCLINTON TAMARA 364 WALNUT STREET MEADVILLE PA 16335 38,500.00
50 MLC700 800369274 BAUMGARTNER GENE J 45 EAST 100 NORTH PLEASANT GROVE UT 84062 33,114.00
50 MLC700 800370322 SKILES JEROME K 2720 BURNLEY ROAD WILMINGTON DE 19008 17,729.00
50 MLC700 800372716 SAMU STEPHEN MITCHELL 2853 EAST CALEY AVENUE LITTLETON CO 80121 31,724.00
50 MLC700 800374225 PERKINS DIANE 47 LAKE AVENUE BROCTON NY 14716 22,000.00
50 MLC700 800374530 GEORGE WENDELL 75 LEXINGTON AVENUE BROOKLYN NY 11238 132,800.00
50 MLC700 800376089 GIANNELLA SILVIO V 56 URBAN CLUB RD WAYNE NJ 07470 110,000.00
50 MLC700 800378283 SUSMAN ALAN H 2 WEST WALTANN LANE PHOENIX AZ 85023 25,500.00
50 MLC700 800378382 NICKLIN WILLIAM SIDNEY 2970 BANNISTER AVENUE GILROY CA 95020 137,500.00
50 MLC700 800380636 KNIGGE MYRON P 29650 18TH AVE SOUTH FEDERAL WAY WA 98003 27,000.00
50 MLC700 800381790 EMANUEL DENZIL 1462 ST LAWRENCE AVENUE BRONX NY 10460 162,400.00
50 MLC700 800382616 EWTON DONALD R 2919 GEARY STREET SE ALBANY OR 97321 30,000.00
50 MLC700 800382772 RAMEY CARL L 5610 SKIDAWAY ROAD SAVANNAH GA 31406 25,000.00
50 MLC700 800383044 POOLE NORMA 145 EAST THIRD STREET DERRY PA 15627 48,800.00
50 MLC700 800383432 SHUMAKE JAMES C SR 1611 CEDAR FALLS LANE FLORENCE SC 29505 45,000.00
50 MLC700 800384091 DEANGELIS ARMANDO 729 WEST BROADWAY WOODMERE NY 11598 39,700.00
50 MLC700 800385890 VENEGAS KENNETH R 8265 LINO COURT SAN DIEGO CA 92129 67,500.00
50 MLC700 800386500 NARVAEZ M LAUREEN M 1102 JOHNSON COURT NEW MILFORD NJ 07646 51,500.00
50 MLC700 800388035 COHEN PATRICIA 5 HAIG COURT DIX HILLS NY 11746 62,800.00
50 MLC700 800391161 CRICHLOW PHILMORE H JR. 7470 MCCLURE AVENUE PITTSBURGH PA 15218 42,400.00
50 MLC700 800391724 JOBANPUTRA KALPESH 14831 E WAGONTRAIL PLACE AURORA CO 80015 58,000.00
50 MLC700 800392425 YOST RICHARD C 509 E LAWN AVENUE LANSDALE PA 19446 66,500.00
50 MLC700 800392532 MCGRELLIS KEVIN 16 RACE PLACE OAKDALE NY 11769 17,700.00
50 MLC700 800393704 SPROCK THOMAS 4 HOLLY ROAD SOMERS NY 10541 23,500.00
50 MLC700 800394603 NIEVES RICHARD B 3441 TIMOTHY LANE GAINESVILLE GA 30504 19,600.00
50 MLC700 800395865 KORDAS ATNANASIOS 170 WASHINGTON TERRACE BRIDGEPORT CT 06604 110,500.00
50 MLC700 800396368 RICHARDSON EDWARD D 4107 N CALLE BARTINEZ TUCSON AZ 85715 17,590.00
50 MLC700 800397416 FIORENZA YOLANDA 208 NOME AVENUE STATEN ISLAND NY 10314 70,000.00
50 MLC700 800398646 HOCHMAN HOWARD J 1039 AMHERST STREET MCKEESPORT PA 15131 20,300.00
50 MLC700 800399826 SMITH THEODORE A 198 CRESCENT ST BROOKLYN NY 11208 153,000.00
50 MLC700 800399875 BRYANT CARRIE 550 ELMCREST PLACE DEBARY FL 32713 67,000.00
50 MLC700 800399883 ARMISTEAD ALLYN C 30 TOMMYS PATH NORTHFORD CT 06472 27,290.00
50 MLC700 800400343 HENDRIX MARVIN A 9745 WINDSOR WAY GAINESVILLE GA 30506 19,400.00
50 MLC700 800401796 BRENIAK DAVID F 6 TOPPING STREET STATEN ISLAND NY 10306 25,065.00
50 MLC700 800402208 GUITARD LEONOR 2453 GRANADA CIRCLE WEST ST PETERSBURG FL 33712 28,491.00
50 MLC700 800402554 WISHAM JOAN G 1762 FARRELL AVENUE CLEARWATER FL 33756 96,000.00
50 MLC700 800402653 PARKER DAUREEN M 2036 LYRA DRIVE HOLIDAY FL 34690 13,500.00
50 MLC700 800404006 DEEB CHARLES 1720 NORTHEAST 17TH AVENUE FORT LAUDERDALE FL 33305 35,600.00
<CAPTION>
Cut-off Date First Original Current Scheduled
Pool Sale Principal Payment Maturity Rem Date LTV Mortgage Payment
ID ID Account Balance Date Date Term Due Ratio Rate Int & Prin
- ---------------------------------------------------------------------------------------------------------------------
<C> <C> <S> <C> <C> <C> <C> <C> <C> <C> <C>
50 MLC700 800314163 34,300.00 12/01/97 11/01/12 179.00 01/31/00 88.1 11.650 403.97
50 MLC700 800315855 10,639.00 10/23/97 09/23/12 177.73 01/31/00 79.8 13.750 139.90
50 MLC700 800317646 24,007.96 10/04/97 09/04/17 237.11 01/31/00 78.5 11.200 251.37
50 MLC700 800321150 84,709.20 10/16/97 09/16/12 177.50 01/31/00 80.0 13.900 998.06
50 MLC700 800321861 77,666.81 10/17/97 09/17/12 177.53 01/31/00 84.7 14.400 948.95
50 MLC700 800325193 25,000.00 10/01/97 09/01/12 177.00 01/31/00 72.9 11.250 242.82
50 MLC700 800326357 271,571.82 10/26/97 09/26/27 357.83 01/31/00 85.9 11.100 2,612.00
50 MLC700 800327744 24,991.70 11/01/97 10/01/12 178.00 01/31/00 82.2 10.800 281.02
50 MLC700 800335085 26,000.00 10/09/97 09/09/12 177.27 01/31/00 63.4 11.750 307.87
50 MLC700 800336794 131,848.04 10/16/97 09/16/12 177.50 01/31/00 80.0 12.500 1,408.78
50 MLC700 800337107 52,200.00 11/03/97 10/03/17 238.06 01/31/00 90.0 12.750 602.29
50 MLC700 800339087 29,907.29 12/01/97 11/01/12 179.00 01/31/00 83.3 9.900 320.55
50 MLC700 800341570 84,714.33 10/24/97 09/24/12 177.76 01/31/00 84.2 12.900 932.54
50 MLC700 800342362 25,825.00 11/01/97 10/01/12 178.00 01/31/00 85.0 12.650 320.83
50 MLC700 800343832 14,983.79 10/17/97 09/17/27 357.53 01/31/00 37.5 11.600 149.69
50 MLC700 800346512 13,160.14 12/01/97 11/01/12 179.00 01/31/00 79.6 13.200 168.75
50 MLC700 800346819 38,000.00 10/22/97 09/22/12 177.70 01/31/00 84.7 12.150 459.74
50 MLC700 800348732 20,554.22 10/24/97 09/24/07 117.76 01/31/00 48.3 13.100 311.79
50 MLC700 800352726 105,823.58 10/15/97 09/15/27 357.47 01/31/00 69.0 10.750 998.83
50 MLC700 800353484 15,890.98 11/01/97 10/01/12 178.00 01/31/00 72.6 10.850 180.35
50 MLC700 800355893 12,843.00 10/24/97 09/24/07 117.76 01/31/00 90.0 12.450 187.62
50 MLC700 800358541 13,920.00 11/01/97 10/01/12 178.00 01/31/00 85.0 12.300 169.76
50 MLC700 800360257 22,483.81 11/08/97 10/08/12 178.22 01/31/00 90.0 11.300 259.99
50 MLC700 800364093 27,270.77 11/01/97 10/01/12 178.00 01/31/00 70.0 10.250 297.56
50 MLC700 800368862 38,351.30 11/16/97 10/16/12 178.49 01/31/00 70.0 10.500 425.58
50 MLC700 800369274 33,101.10 12/01/97 11/01/12 179.00 01/31/00 79.9 12.700 358.56
50 MLC700 800370322 17,574.79 11/06/97 10/06/17 238.16 01/31/00 90.0 11.400 187.85
50 MLC700 800372716 31,724.00 12/01/97 11/01/12 179.00 01/31/00 84.9 11.000 360.57
50 MLC700 800374225 21,924.40 11/27/97 10/27/17 238.85 01/31/00 90.0 11.800 239.18
50 MLC700 800374530 132,800.00 11/08/97 10/08/12 178.22 01/31/00 80.0 13.990 1,572.46
50 MLC700 800376089 109,961.42 10/19/97 09/19/12 177.60 01/31/00 84.9 12.800 1,199.65
50 MLC700 800378283 25,500.00 12/01/97 11/01/12 179.00 01/31/00 82.9 11.650 255.45
50 MLC700 800378382 137,500.00 11/01/97 10/01/12 178.00 01/31/00 75.0 11.150 1,325.05
50 MLC700 800380636 27,000.00 12/01/97 11/01/17 239.00 01/31/00 89.9 11.150 281.45
50 MLC700 800381790 162,400.00 11/27/97 10/27/12 178.85 01/31/00 80.0 11.550 1,614.43
50 MLC700 800382616 30,000.00 12/01/97 11/01/12 179.00 01/31/00 58.6 13.600 391.49
50 MLC700 800382772 24,804.40 11/07/97 10/07/12 178.19 01/31/00 78.5 9.900 267.12
50 MLC700 800383044 48,800.00 11/22/97 10/22/12 178.68 01/31/00 80.0 12.850 534.11
50 MLC700 800383432 44,934.84 11/22/97 10/22/17 238.68 01/31/00 90.0 12.300 504.93
50 MLC700 800384091 39,685.85 11/07/97 10/07/12 178.19 01/31/00 79.9 13.550 456.29
50 MLC700 800385890 67,500.00 11/01/97 10/01/12 178.00 01/31/00 90.0 11.150 650.48
50 MLC700 800386500 51,500.00 11/21/97 10/21/12 178.65 01/31/00 84.6 12.250 539.67
50 MLC700 800388035 62,800.00 11/28/97 10/28/12 178.88 01/31/00 84.9 12.500 670.24
50 MLC700 800391161 42,288.48 12/01/97 11/01/12 179.00 01/31/00 89.9 11.800 429.62
50 MLC700 800391724 58,000.00 12/01/97 11/01/12 179.00 01/31/00 69.9 10.750 541.42
50 MLC700 800392425 66,405.33 11/22/97 10/22/12 178.68 01/31/00 84.9 10.990 755.42
50 MLC700 800392532 17,700.00 11/21/97 10/21/17 238.65 01/31/00 90.0 11.800 192.43
50 MLC700 800393704 23,454.00 11/28/97 10/28/12 178.88 01/31/00 88.6 11.300 271.54
50 MLC700 800394603 19,600.00 11/16/97 10/16/12 178.49 01/31/00 84.9 11.750 232.09
50 MLC700 800395865 110,342.43 11/14/97 10/14/27 358.42 01/31/00 85.0 12.500 1,179.32
50 MLC700 800396368 17,590.00 12/01/97 11/01/12 179.00 01/31/00 85.0 10.000 154.36
50 MLC700 800397416 69,931.01 11/01/97 10/01/12 178.00 01/31/00 72.1 10.500 773.78
50 MLC700 800398646 20,292.58 11/22/97 10/22/17 238.68 01/31/00 89.9 11.050 210.23
50 MLC700 800399826 153,000.00 11/06/97 10/06/12 178.16 01/31/00 85.0 10.950 1,451.28
50 MLC700 800399875 67,000.00 11/28/97 10/28/12 178.88 01/31/00 77.1 12.850 733.31
50 MLC700 800399883 27,289.98 11/08/97 10/08/17 238.22 01/31/00 88.9 11.300 287.28
50 MLC700 800400343 19,400.00 11/17/97 10/17/12 178.52 01/31/00 85.0 13.000 245.46
50 MLC700 800401796 25,065.00 11/27/97 10/27/12 178.85 01/31/00 89.9 11.550 293.60
50 MLC700 800402208 28,410.86 11/27/97 10/27/17 238.85 01/31/00 84.9 9.550 266.50
50 MLC700 800402554 96,000.00 12/01/97 11/01/12 179.00 01/31/00 80.0 11.500 950.68
50 MLC700 800402653 13,427.82 11/27/97 10/27/12 178.85 01/31/00 90.0 10.800 151.75
50 MLC700 800404006 35,263.42 09/25/97 08/25/12 176.78 01/31/00 84.9 12.750 444.59
</TABLE>
<PAGE>
<TABLE>
Page 16
ALLIANCE FUNDING
A division of Superior Bank FSB
Sale Schedule -- Group 1, Sub Pool II
1997-4 Class 1 -- Initial of Fixed Rate Mortgages -- Settlement 12/22/97
<CAPTION>
Principal
Pool Sale Zip Balance at
ID ID Account Name Address City State Code Origination
- ------------------------------------------------------------------------------------------------------------------------------------
<C> <C> <S> <C> <C> <C> <C> <C> <C>
50 MLC700 800404600 ALNONO ROB 35 NORTH SAN JOSE STREET MESA AZ 85201 24,000.00
50 MLC700 800405375 PARKER LARRY J. 100 EAST B STREET ERWIN NC 28339 24,000.00
50 MLC700 800405870 TREXLER MERRI C 1406 21ST STREET OGDEN UT 84401 15,000.00
50 MLC700 800406159 KEMP RAYMOND A 1245 CYPRESS DRIVE MACON GA 31204 17,000.00
50 MLC700 800407108 FRANCISCOTTY GIBSON T 9925 WALKER ROAD COLORADO SPRINGS CO 80908 118,983.00
50 MLC700 800407512 OLSEN COREY W 5201 98TH AVENUE NORTH PINELLAS PARK FL 33782 12,600.00
50 MLC700 800408163 RUST CALVIN W 180 NORTH 700 EAST PAYSON UT 84651 59,847.00
50 MLC700 800410623 SQUIER JERRY LEE 5982 W TULSA STREET CHANDLER AZ 85226 94,350.00
50 MLC700 800411076 COLDING NANCY 806 NORTHWEST 3RD AVENUE MULBERRY FL 33860 37,675.00
50 MLC700 800411985 WAGNER LINDA R 9167 WEST RADCLIFFE DRIVE LITTLETON CO 80123 42,000.00
50 MLC700 800412520 ORR BERT D 3610 SOUTH TOOLSON DRIVE MAGNA UT 84044 12,433.00
50 MLC700 800412843 LEE JAMES A 812 LAKEMONT HILLS BOULEVA BRANDON FL 33510 26,200.00
50 MLC700 800413528 BAKER ALICE 1466 EAST 46TH STREET BROOKLYN NY 11234 24,500.00
50 MLC700 800413569 VERNACCHIO JOHN A 2929 THIRD STREET NORRISTOWN PA 19403 20,000.00
50 MLC700 800415150 HENRY ROBERT L 351 BERMUDA CREEK ROAD LAS VEGAS NV 89123 30,500.00
50 MLC700 800415341 ROBINSON SADIE 1246 POINTVIEW STREET PITTSBURGH PA 15206 16,800.00
50 MLC700 800416778 FREDERICKS MALCOLM 17 PARKSIDE COURT BROOKLYN NY 11226 198,750.00
50 MLC700 800417008 PRICE WELDON 730 PROSPECT PLACE BROOKLYN NY 11216 195,000.00
50 MLC700 800417206 HARRISON TERRY K 460 SOUTH IVY DRIVE MIDVALE UT 84047 16,643.00
50 MLC700 800417982 TENORIO ANGELA 321 SOUTHWEST 77TH TERRACE NORTH LAUDERDALE FL 33068 16,500.00
50 MLC700 800418949 CHARETTE LOLA 7476 SABRE STREET ORLANDO FL 32822 57,800.00
50 MLC700 800419509 SEGRETI ALBERT F 6937 MIDNIGHT PASS ROAD SARASOTA FL 34242 75,000.00
50 MLC700 800419830 PRINCE RICHARD 1011 37TH STREET SOUTH ST PETERSBURG FL 33711 46,800.00
50 MLC700 800421125 CARTY GERARD 340 ADAMS STREET DECATUR GA 30030 148,760.00
50 MLC700 800421711 NGUYEN THU NGA 2717 WEST ROSE LANE PHOENIX AZ 85017 15,000.00
50 MLC700 800421943 MOORE MAURY D 11826 N COPPER CREEK DRIVE TUCSON AZ 85737 22,500.00
50 MLC700 800421950 KRIEGER LYNN G 7418 325TH STREET SOUTH ROY WA 98580 15,680.00
50 MLC700 800422230 BRUSILOW BRYAN 1240 MELODY LANE SOUTHHAMPTON PA 18966 25,000.00
50 MLC700 800422941 ORTIZ MARITZA 423-39TH STREET BROOKLYN NY 11232 85,000.00
50 MLC700 800422990 CLEMENT RANDALL 6808 APPLEWOOD STREET WESLEY CHAPEL FL 33544 67,150.00
50 MLC700 800423246 ROSEVELT LAWRENCE D 5111-5109 N CENTRAL AVENUE TAMPA FL 33603 35,800.00
50 MLC700 800425373 DUMAS RAYMOND O 5358 COLONY COURT CAPE CORAL FL 33904 133,750.00
50 MLC700 800426272 MORLEY JON R 1015 EAST GREEN ROAD FRUIT HEIGHTS UT 84037 50,000.00
50 MLC700 800426595 STEPP JAMES M 2006 HURON STREET JACKSONVILLE FL 32254 40,800.00
50 MLC700 800428856 DUHART EULA H 6024 28TH STREET SOUTH ST PETERSBURG FL 33712 10,000.00
50 MLC700 800429631 WOLFINBARGER KIRK A 3406 LAKE SHORE LANE CLEARWATER FL 34621 23,000.00
50 MLC700 800431579 HEASLIP JUDITH 1818 MEDEA COURT NAPLES FL 34109 30,000.00
50 MLC700 800435190 BUFORD ROBERT L 10067 SOUTH COTTONCREEK DR LITTLETON CO 80126 35,000.00
50 MLC700 800440752 GANNON LOWELL 9101 NORTHWEST 13TH STREET PLANTATION FL 33322 20,000.00
---------------------------- ------------
110 Sale Total 5,634,229.00
51 MLC700 800243255 AUSTIN KEVIN S 535 PAGE AVENUE NORTHEAST ATLANTA GA 30307 54,525.00
51 MLC700 800319261 COBB CATHERINE C. 514 RALEIGH AVENUE CAROLINA BEACH NC 28428 99,000.00
51 MLC700 800333247 HOGAN JAMES P 938 GROVESMERE LOOP OCOEE FL 34761 42,000.00
51 MLC700 800380982 YOUNG SHARON 6321 NORTH LAKESHORE DRIVE HOUSE SPRINGS MO 63051 31,798.00
51 MLC700 800386286 COVERT NOVELLE R 25 ANN DRIVE SAINT PETERS MO 63376 15,176.00
51 MLC700 800393266 THIES RALPH E 7387 OLD LEMAY FERRY ROAD BARNHART MO 63012 66,100.00
51 MLC700 800430027 BARKFELT WARREN R 21162 RICHMOND CIRCLE HUNTINGTON BEACH CA 92646 21,500.00
---------------------------- ------------
7 Sale Total 330,099.00
52 SB586 661500298 TUR LARRY 210 DORSHIRE COURT LOUISVILLE KY 40245 35,700.00
52 SB586 661522250 VANDEN BOSCH ANITA 467 SIDNEY STREET EAST ST. PAUL MN 55107 51,700.00
52 SB586 661530238 EVANS JAMES R 2318 SOUTH 5TH STREET IRONTON OH 45638 44,800.00
52 SB586 661533349 HULTS KENNETH L 1315 FORD AVENUE NORTH GLENCOE MN 55336 87,000.00
52 SB586 661533372 LUTHENS JANNETTE S 5226 LYNWOOD BOULEVARD MOUND MN 55364 54,600.00
52 SB586 661534974 FEIFAREK PAUL T RT 2 BOX 438 AA PINE CITY MN 55063 21,300.00
52 SB586 661536227 WASON WILLIAM ROBERT 100 MCINTOSH RICHMOND KY 40475 31,600.00
52 SB586 661537399 WRIGHT WILLIAM C 8683 HARTMAN ROAD WADSWORTH OH 44281 60,000.00
52 SB586 661538009 DANIELS MATTHEW 301-303 HEALY ELGIN IL 60120 22,800.00
52 SB586 661538058 BONTRAGER TONI M 55186 COUNTY ROAD 8 MIDDLEBURY IN 46540 71,100.00
52 SB586 661539197 KLEIN JERRY D 218 EAST MERRIMAC STREET DODGEVILLE WI 53533 22,500.00
52 SB586 661539239 HERLITZ JANE A 4788 NORTH BERKELEY BLVD WHITEFISH BAY WI 53211 16,700.00
52 SB586 661539734 TICHELL ROBERT H 1675 CLOVER STREET BRIGHTON NY 14618 319,600.00
<CAPTION>
Cut-off Date First Original Current Scheduled
Pool Sale Principal Payment Maturity Rem Date LTV Mortgage Payment
ID ID Account Balance Date Date Term Due Ratio Rate Int & Prin
- ---------------------------------------------------------------------------------------------------------------------
<C> <C> <S> <C> <C> <C> <C> <C> <C> <C> <C>
50 MLC700 800404600 24,000.00 12/01/97 11/01/12 179.00 01/31/00 77.0 10.750 269.03
50 MLC700 800405375 23,957.83 11/27/97 10/27/17 238.85 01/31/00 80.0 12.750 276.91
50 MLC700 800405870 14,961.34 11/24/97 10/24/12 178.75 01/31/00 76.1 14.000 199.76
50 MLC700 800406159 16,955.51 11/15/97 10/15/12 178.45 01/31/00 78.7 13.600 221.85
50 MLC700 800407108 118,290.46 12/01/97 11/01/12 179.00 01/31/00 75.9 10.050 1,282.24
50 MLC700 800407512 12,576.94 11/24/97 10/24/12 178.75 01/31/00 84.9 11.900 150.41
50 MLC700 800408163 59,847.00 12/01/97 11/01/12 179.00 01/31/00 79.8 11.150 576.73
50 MLC700 800410623 94,350.00 12/01/97 11/01/27 359.00 01/31/00 85.0 11.750 952.38
50 MLC700 800411076 37,675.00 12/01/97 11/01/07 119.00 01/31/00 79.9 10.050 498.92
50 MLC700 800411985 42,000.00 12/01/97 11/01/12 179.00 01/31/00 45.6 10.900 396.81
50 MLC700 800412520 12,411.39 12/01/97 11/01/17 239.00 01/31/00 84.8 13.100 146.55
50 MLC700 800412843 26,137.42 12/01/97 11/01/17 239.00 01/31/00 84.5 12.250 293.06
50 MLC700 800413528 24,424.85 11/27/97 10/27/12 178.85 01/31/00 85.0 10.050 264.03
50 MLC700 800413569 20,000.00 11/27/97 10/27/17 238.85 01/31/00 80.0 12.750 230.76
50 MLC700 800415150 30,067.54 12/01/97 11/01/17 239.00 01/31/00 88.3 11.400 323.16
50 MLC700 800415341 16,759.78 11/21/97 10/21/12 178.65 01/31/00 79.8 12.600 208.16
50 MLC700 800416778 198,750.00 11/20/97 10/20/12 178.62 01/31/00 75.0 12.250 2,082.69
50 MLC700 800417008 195,000.00 11/20/97 10/20/12 178.62 01/31/00 75.0 12.600 2,096.30
50 MLC700 800417206 16,643.00 12/01/97 11/01/12 179.00 01/31/00 85.0 12.000 171.19
50 MLC700 800417982 16,412.74 11/22/97 10/22/12 178.68 01/31/00 84.8 12.000 198.03
50 MLC700 800418949 57,800.00 12/01/97 11/01/17 239.00 01/31/00 85.0 11.650 622.38
50 MLC700 800419509 75,000.00 11/21/97 10/21/17 238.65 01/31/00 65.5 10.750 761.42
50 MLC700 800419830 46,800.00 11/21/97 10/21/27 358.65 01/31/00 90.0 9.150 381.63
50 MLC700 800421125 148,335.23 11/22/97 10/22/27 358.68 01/31/00 84.7 10.750 1,388.65
50 MLC700 800421711 14,954.21 12/01/97 11/01/12 179.00 01/31/00 80.9 12.800 187.82
50 MLC700 800421943 22,355.28 12/01/97 11/01/12 179.00 01/31/00 88.8 11.550 223.67
50 MLC700 800421950 15,680.00 12/01/97 11/01/17 239.00 01/31/00 78.1 11.250 164.52
50 MLC700 800422230 25,000.00 11/22/97 10/22/12 178.68 01/31/00 89.8 11.050 239.03
50 MLC700 800422941 85,000.00 11/20/97 10/20/27 358.62 01/31/00 85.0 12.800 927.00
50 MLC700 800422990 67,150.00 11/24/97 10/24/17 238.75 01/31/00 85.0 10.400 665.91
50 MLC700 800423246 35,800.00 11/24/97 10/24/12 178.75 01/31/00 84.8 11.500 354.52
50 MLC700 800425373 132,975.02 12/01/97 11/01/17 239.00 01/31/00 84.9 11.750 1,449.46
50 MLC700 800426272 50,000.00 12/01/97 11/01/12 179.00 01/31/00 70.4 10.000 537.30
50 MLC700 800426595 40,800.00 12/01/97 11/01/12 179.00 01/31/00 80.0 8.800 408.98
50 MLC700 800428856 9,932.67 11/27/97 10/27/07 118.85 01/31/00 76.2 9.150 127.49
50 MLC700 800429631 23,000.00 11/27/97 10/27/12 178.85 01/31/00 84.9 11.900 274.56
50 MLC700 800431579 29,626.43 12/01/97 11/01/12 179.00 01/31/00 88.7 11.550 351.41
50 MLC700 800435190 35,000.00 12/01/97 11/01/12 179.00 01/31/00 85.0 12.000 360.01
50 MLC700 800440752 20,000.00 12/01/97 11/01/12 179.00 01/31/00 78.0 11.750 236.83
----------------- ------ -----------------------------
110 5,624,729.39 220.16 80.7 11.718 59,920.51
51 MLC700 800243255 54,045.63 09/01/97 08/01/17 236.00 01/31/00 79.7 10.550 546.20
51 MLC700 800319261 98,775.85 09/22/97 08/22/27 356.68 01/31/00 79.2 9.250 814.45
51 MLC700 800333247 41,966.11 10/15/97 09/15/12 177.47 01/31/00 86.4 12.400 445.00
51 MLC700 800380982 31,798.00 11/21/97 10/21/07 118.65 01/31/00 79.0 10.300 425.51
51 MLC700 800386286 15,176.00 11/17/97 10/17/17 238.52 01/31/00 80.1 10.900 155.61
51 MLC700 800393266 65,989.86 11/22/97 10/22/17 238.68 01/31/00 83.7 10.300 651.07
51 MLC700 800430027 21,500.00 12/01/97 11/01/12 179.00 01/31/00 78.5 13.500 279.14
----------------- ------ -----------------------------
7 329,251.45 250.34 81.1 10.530 3,316.98
52 SB586 661500298 35,503.27 11/01/97 09/24/05 94.00 01/31/00 80.5 13.000 553.73
52 SB586 661522250 51,495.21 11/01/97 09/09/17 238.00 01/31/00 73.8 9.410 442.00
52 SB586 661530238 44,594.14 12/01/97 10/22/07 119.00 01/31/00 66.8 9.650 538.41
52 SB586 661533349 86,792.63 12/01/97 10/15/12 179.00 01/31/00 75.0 9.250 826.41
52 SB586 661533372 54,479.86 11/01/97 09/15/12 178.00 01/31/00 85.7 10.125 545.39
52 SB586 661534974 21,300.00 12/01/97 10/15/12 179.00 01/31/00 85.6 11.275 226.85
52 SB586 661536227 31,599.46 11/01/97 09/24/05 94.00 01/31/00 88.5 12.125 475.98
52 SB586 661537399 59,999.08 12/01/97 10/22/07 119.00 01/31/00 58.8 11.875 790.46
52 SB586 661538009 22,800.00 12/01/97 10/25/04 83.00 01/31/00 54.8 10.625 356.14
52 SB586 661538058 71,045.93 12/01/97 10/09/17 239.00 01/31/00 82.7 13.490 791.87
52 SB586 661539197 22,403.65 12/01/97 10/22/07 119.00 01/31/00 78.1 10.875 284.57
52 SB586 661539239 16,640.10 11/01/97 09/22/07 118.00 01/31/00 73.4 13.875 238.14
52 SB586 661539734 319,126.46 12/01/97 10/10/16 227.00 01/31/00 83.0 9.320 2,764.83
</TABLE>
<PAGE>
<TABLE>
Page 17
ALLIANCE FUNDING
A division of Superior Bank FSB
Sale Schedule -- Group 1, Sub Pool II
1997-4 Class 1 -- Initial of Fixed Rate Mortgages -- Settlement 12/22/97
<CAPTION>
Principal
Pool Sale Zip Balance at
ID ID Account Name Address City State Code Origination
- ------------------------------------------------------------------------------------------------------------------------------------
<C> <C> <S> <C> <C> <C> <C> <C> <C>
52 SB586 661540062 DIERS CHARLES A 2015 ENGLISH STREET MAPLEWOOD MN 55109 65,000.00
52 SB586 661540666 LOUWAGIE STEVEN P 9410 HIGHWAY 71 SOUTH WILLMAR MN 56201 39,500.00
52 SB586 661541979 STRATER RAY GENE 5017 MOSSKEY COURT FORT WAYNE IN 46835 17,200.00
52 SB586 661542589 HOLZ KAREN D 621 SANBORN STREET EAST WINONA MN 55987 29,800.00
52 SB586 661543256 PRESSLER DANIEL WEBSTER 29201 ROBIN STREET ELKHART IN 46514 16,000.00
52 SB586 661543272 DONOVAN MICHAEL F 4584 EAST 1022 NORTH STREE DEMOTTE IN 46310 32,800.00
52 SB586 661543801 CHANEY EVETTE R 41 NORTH LAWRENCE AVENUE FRANKLIN TOWNSHIP NJ 08873 34,400.00
52 SB586 661543983 FINK MATTHEW R 5607 RIVER OAK DRIVE SAVAGE MN 55378 31,900.00
52 SB586 661544544 HARMELINK DAVID J 1322 KINGS COURT SHEBOYGAN WI 53081 75,600.00
52 SB586 661544593 GUTH ANTHONY R 2234 WAKE ROBIN DRIVE WEST LAFAYETTE IN 47906 103,200.00
52 SB586 661546218 HALENA KAREN L 2292 DAHLK CIRCLE VERONA WI 53593 44,500.00
52 SB586 661546374 DIETERICHS TIMOTHY J 11462 42ND STREET CLEAR LAKE MN 55319 20,900.00
52 SB586 661546408 ISKIERKA EDWARD W 9678 VALLEY FORGE LANE NOR MAPLE GROVE MN 55369 20,200.00
52 SB586 661547398 RUST RICHARD A 312 NORTH WASHINGTON STREE GREENTOWN IN 46936 53,600.00
52 SB586 661550095 KLAVES DAVID 2145 SOUTH 61ST STREET WEST ALLIS WI 53219 59,600.00
52 SB586 661550251 KUBIS MICHAEL D 423 LAFAYETTE STREET WINONA MN 55987 18,000.00
52 SB586 661550350 TUCKER DANIEL LEE 207 WEST WILLIAM DRIVE BROWNSBURG IN 46112 30,300.00
52 SB586 661550376 STAUFFER DONALD R 317 PINE STREET GLENWOOD CITY WI 54013 21,500.00
52 SB586 661550459 CARPENTER PEARL LYNN 933 EAST BOCOCK ROAD MARION IN 46952 103,200.00
52 SB586 661551549 MANESTAR ANTHONY L 10366 WOLCOTT ST. JOHN IN 46373 48,500.00
52 SB586 661551705 CLARK WILLIAM PAUL 7779 MONTANA STREET MERRILLVILLE IN 46410 45,000.00
52 SB586 661552141 LAMBERT EDWARD F 5721 FORSYTHIA PLACE MADISON WI 53705 81,900.00
52 SB586 661552893 SPURGEON DONNIE R 606 S LOCUST ST BROWNSBURG IN 46112 23,000.00
52 SB586 661552935 ELDRED LINDA LEE 1727 OHIO ST TERRE HAUTE IN 47807 50,000.00
52 SB586 661553552 KRUEGER KELLY M 194 NORTH MAIN STREET CLINTONVILLE WI 54929 15,800.00
52 SB586 661554568 ROSS ALBERTA L 1509 WEST 11TH STREET ANDERSON IN 46016 20,600.00
52 SB586 661566497 BROWN JOHN S 10 OLD FIELD LANE MOORESVILLE IN 46158 37,600.00
52 SB586 661570689 HILGREEN JEFFREY 36 NORTON DRIVE EAST NORTHPORT NY 11731 56,600.00
52 SB586 661574699 CONELLY CAROL ANN 1256 JESSIE STREET SAINT PAUL MN 55101 17,200.00
52 SB586 661577502 WALLER KENNETH K 4 CARRANZA ROAD SOUTHHAMPTON TOWNSHI NJ 08088 47,400.00
52 SB586 661596577 VOORHEES STEVEN C 81 TITUS MILL ROAD HOPEWELL TOWNSHIP NJ 08534 40,000.00
52 SB586 661598359 COX-KELLY ALVIN 133-21 224TH STREET LAURELTON NY 11413 35,000.00
52 SB586 661599209 ZEINER ALBERT WILLIAM JR 11 THENDARA LANE POUGHKEEPSIE NY 12603 54,100.00
52 SB587 661544015 SCHICK JANET L 914 WEST MULBERRY STREET KOKOMO IN 46901 10,600.00
52 SB587 661565002 MALIN KAREN J 1021 RIDGE ROAD OWATONNA MN 55060 72,000.00
52 SB81DD 661534834 MILLS ALEX W 1153 FRONTAGE ROAD DOVER TOWNSHIP NJ 08753 18,000.00
52 SB81DD 661539726 SEPPANEN PETER A 306 9TH AVENUE EAST NORTHPORT NY 11731 29,000.00
52 SB85D 661520007 SIEMEN JOHN J JR 4422 WOOD THRUSH DRIVE PARMA OH 44134 41,300.00
52 SB85D 661534552 HORTON KAREN 9 ONEIDA AVENUE MIDDLETOWN TOWNSHIP NJ 07716 21,000.00
52 SB85D 661534586 MANSILLA JUDITH A 3 RARITAN DRIVE BOROUGH OF CALIFON NJ 07830 17,700.00
52 SB85D 661534602 TOMCHUK RICHARD A 47 WINANS AVENUE PISCATAWAY TOWNSHIP NJ 08854 56,700.00
52 SB85D 661534636 FARLEY EILEEN D 540 SUMMIT AVENUE WESTVILLE BORO NJ 08093 40,300.00
52 SB85D 661539767 DEMERS ROBERT A 130 GUIDEBOARD ROAD WATERFORD NY 12188 21,300.00
52 SB85D 661541029 TAYLOR KIM 86 SEA BREEZE ROAD DOVER TOWNSHIP NJ 08753 18,200.00
52 SB85D 661541052 DE GENNARO MAURICE JR 1300 BEAUCHAMPS PLACE DOVER TOWNSHIP NJ 08753 15,200.00
52 SB85D 661561100 MACLAURY DONNAH L 372 WEST WATER STREET ELMIRA NY 14905 51,800.00
52 SBC103 800283657 JOHNSON LONNIE 5169 ROCKY FORD ROAD VALDOSTA GA 31601 92,800.00
52 SBC103 800300667 SELLS JOSEPH M 4804 FOLLY DRIVE ALBANY GA 31705 23,200.00
52 SBC103 800303984 LINDSEY LARRY D 2514 TOLEDO STREET BELLINGHAM WA 98226 35,900.00
52 SBC103 800304859 THOMPSON TOMMY O 209 FOOTHILLS DRIVE NEWBERG OR 97132 33,100.00
52 SBC103 800304891 LANFEAR SARAH KATHLEEN 101 NORTH 30TH AVENUE YAKIMA WA 98902 29,300.00
52 SBC103 800305005 ROBINS PHILLIP W 130 HIGH MEADOWS STREET RICHLAND WA 99352 29,600.00
52 SBC103 800308397 JACOBS KENNETH J 6511 NW ATKINSON AVENUE REDMOND OR 97756 45,000.00
52 SBC103 800308413 DENNIS CARRELL 29801 108TH AVE SOUTHEAST AUBURN WA 98092 32,000.00
52 SBC103 800308421 BORGARDTS JAMES D 4430 SOUTH 263RD STREET KENT WA 98032 94,100.00
52 SBC103 800308462 KELLER TERRY M 14475 SW CAMDEN LANE LAKE OSWEGO OR 97035 211,100.00
52 SBC103 800310237 CALDWELL BRIAN S 11725 47TH DRIVE NORTHEAST MARYSVILLE WA 98271 60,400.00
52 SBC103 800310278 JOHNSON RICHARD R 18611 215TH WAY NORTHEAST WOODINVILLE WA 98072 76,700.00
52 SBC103 800310369 PROCTOR MCUEL 860 EAST 8TH STREET MOSCOW ID 83843 51,000.00
52 SBC103 800310377 JOHNSON JOEL D 1445 SOUTH LARCH STREET KETTLE FALLS WA 99141 92,000.00
52 SBC103 800316325 LONGWORTH H E 207 TANGLEWOOD ROAD SAVANNAH GA 31419 56,600.00
52 SBC103 800316341 KENEMER CARL L 2080 MILL CREEK CHURCH STR ROCKY FACE GA 30740 50,100.00
<CAPTION>
Cut-off Date First Original Current Scheduled
Pool Sale Principal Payment Maturity Rem Date LTV Mortgage Payment
ID ID Account Balance Date Date Term Due Ratio Rate Int & Prin
- ---------------------------------------------------------------------------------------------------------------------
<C> <C> <S> <C> <C> <C> <C> <C> <C> <C> <C>
52 SB586 661540062 65,000.00 12/01/97 10/24/05 95.00 01/31/00 81.2 10.375 922.20
52 SB586 661540666 39,500.00 12/01/97 10/22/07 119.00 01/31/00 65.7 10.875 499.59
52 SB586 661541979 17,199.69 12/01/97 10/23/06 107.00 01/31/00 79.3 12.750 247.79
52 SB586 661542589 29,682.42 12/01/97 10/22/07 119.00 01/31/00 87.5 12.275 398.96
52 SB586 661543256 16,000.00 12/01/97 10/09/17 239.00 01/31/00 79.8 13.990 183.54
52 SB586 661543272 32,800.00 12/01/97 10/15/12 179.00 01/31/00 84.1 12.500 373.12
52 SB586 661543801 34,398.85 12/01/97 10/13/14 203.00 01/31/00 89.9 12.125 368.16
52 SB586 661543983 31,900.00 12/01/97 10/15/12 179.00 01/31/00 59.6 11.740 348.45
52 SB586 661544544 75,539.79 12/01/97 10/03/22 299.00 01/31/00 79.5 9.195 594.93
52 SB586 661544593 103,200.00 12/01/97 10/09/17 239.00 01/31/00 86.0 9.320 876.71
52 SB586 661546218 44,499.70 12/01/97 10/22/07 119.00 01/31/00 77.4 10.625 557.04
52 SB586 661546374 20,900.00 12/01/97 10/22/07 119.00 01/31/00 75.6 13.740 296.48
52 SB586 661546408 20,200.00 12/01/97 10/23/06 107.00 01/31/00 73.0 11.625 279.14
52 SB586 661547398 53,349.03 12/01/97 10/22/07 119.00 01/31/00 80.0 9.320 635.24
52 SB586 661550095 59,600.00 12/01/97 10/15/12 179.00 01/31/00 79.4 9.320 568.45
52 SB586 661550251 17,984.59 12/01/97 10/09/17 239.00 01/31/00 79.7 12.625 190.22
52 SB586 661550350 30,266.08 12/01/97 10/09/17 239.00 01/31/00 73.5 10.625 281.56
52 SB586 661550376 21,500.00 12/01/97 10/09/17 239.00 01/31/00 67.9 11.375 209.92
52 SB586 661550459 103,200.00 12/01/97 10/15/12 179.00 01/31/00 76.4 9.000 966.07
52 SB586 661551549 48,500.00 12/01/97 10/15/12 179.00 01/31/00 84.5 11.625 526.48
52 SB586 661551705 44,999.79 12/01/97 10/09/17 239.00 01/31/00 62.9 10.625 418.16
52 SB586 661552141 81,861.41 12/01/97 09/27/27 359.00 01/31/00 79.5 9.320 625.75
52 SB586 661552893 22,975.08 12/01/97 10/09/17 239.00 01/31/00 50.7 10.875 217.32
52 SB586 661552935 50,000.00 12/01/97 10/15/12 179.00 01/31/00 48.2 9.000 468.06
52 SB586 661553552 15,784.20 12/01/97 10/10/16 227.00 01/31/00 68.9 12.490 167.60
52 SB586 661554568 20,593.41 12/01/97 09/27/27 359.00 01/31/00 64.5 11.125 182.88
52 SB586 661566497 37,577.44 12/01/97 10/08/18 251.00 01/31/00 79.9 14.125 431.10
52 SB586 661570689 56,535.80 12/01/97 10/09/17 239.00 01/31/00 75.5 10.525 522.44
52 SB586 661574699 17,188.02 12/01/97 10/09/17 239.00 01/31/00 78.2 14.125 198.86
52 SB586 661577502 47,327.78 12/01/97 10/15/12 179.00 01/31/00 79.9 13.990 582.32
52 SB586 661596577 40,000.00 01/01/98 11/15/12 180.00 01/31/00 89.3 11.625 434.21
52 SB586 661598359 35,000.00 01/01/98 11/22/07 120.00 01/31/00 75.5 10.625 438.12
52 SB586 661599209 54,100.00 01/01/98 11/07/19 264.00 01/31/00 83.6 12.625 560.74
52 SB587 661544015 10,562.54 11/01/97 09/22/07 118.00 01/31/00 80.6 14.125 152.63
52 SB587 661565002 72,000.00 12/01/97 10/09/17 239.00 01/31/00 78.2 8.945 595.56
52 SB81DD 661534834 18,000.00 12/01/97 10/22/07 119.00 01/31/00 88.9 11.875 237.14
52 SB81DD 661539726 29,000.00 12/01/97 10/09/17 239.00 01/31/00 80.1 10.625 269.48
52 SB85D 661520007 41,286.68 11/01/97 09/29/01 46.00 01/31/00 79.5 13.525 1,032.37
52 SB85D 661534552 20,910.07 12/01/97 10/22/07 119.00 01/31/00 83.0 10.875 265.60
52 SB85D 661534586 17,700.00 12/01/97 10/15/12 179.00 01/31/00 88.6 10.875 184.40
52 SB85D 661534602 56,624.15 12/01/97 10/13/14 203.00 01/31/00 84.8 12.375 615.59
52 SB85D 661534636 40,124.91 12/01/97 10/22/07 119.00 01/31/00 60.5 10.625 504.47
52 SB85D 661539767 21,300.00 12/01/97 10/22/07 119.00 01/31/00 88.6 11.625 277.79
52 SB85D 661541029 18,200.00 12/01/97 10/22/07 119.00 01/31/00 79.0 11.875 239.77
52 SB85D 661541052 15,133.96 12/01/97 10/22/07 119.00 01/31/00 62.2 10.625 190.27
52 SB85D 661561100 51,744.63 12/01/97 10/09/17 239.00 01/31/00 78.4 10.975 492.68
52 SBC103 800283657 92,800.00 01/01/98 11/03/22 300.00 01/31/00 80.0 11.625 878.50
52 SBC103 800300667 23,200.00 01/01/98 11/09/17 240.00 01/31/00 72.3 12.490 243.13
52 SBC103 800303984 35,900.00 01/01/98 11/22/07 120.00 01/31/00 79.7 11.625 468.19
52 SBC103 800304859 33,100.00 01/01/98 11/09/17 240.00 01/31/00 66.2 10.875 312.74
52 SBC103 800304891 29,300.00 01/01/98 11/09/17 240.00 01/31/00 68.5 10.375 267.73
52 SBC103 800305005 29,600.00 01/01/98 11/22/07 120.00 01/31/00 88.8 11.875 389.95
52 SBC103 800308397 45,000.00 01/01/98 11/09/17 240.00 01/31/00 79.6 11.275 436.51
52 SBC103 800308413 32,000.00 01/01/98 11/09/17 240.00 01/31/00 84.7 10.875 302.35
52 SBC103 800308421 94,100.00 01/01/98 11/22/07 120.00 01/31/00 64.8 9.000 1,100.13
52 SBC103 800308462 211,100.00 01/01/98 10/28/27 360.00 01/31/00 83.7 10.500 1,782.38
52 SBC103 800310237 60,400.00 01/01/98 11/09/17 240.00 01/31/00 51.1 11.625 599.32
52 SBC103 800310278 76,700.00 01/01/98 11/22/07 120.00 01/31/00 87.2 12.525 1,037.16
52 SBC103 800310369 51,000.00 01/01/98 11/03/22 300.00 01/31/00 68.0 9.000 395.04
52 SBC103 800310377 92,000.00 01/01/98 11/15/12 180.00 01/31/00 80.0 9.320 877.46
52 SBC103 800316325 56,600.00 01/01/98 10/28/27 360.00 01/31/00 79.7 9.320 432.44
52 SBC103 800316341 50,100.00 01/01/98 11/03/22 300.00 01/31/00 79.5 9.320 398.25
</TABLE>
<PAGE>
<TABLE>
Page 18
ALLIANCE FUNDING
A division of Superior Bank FSB
Sale Schedule -- Group 1, Sub Pool II
1997-4 Class 1 -- Initial of Fixed Rate Mortgages -- Settlement 12/22/97
<CAPTION>
Principal
Pool Sale Zip Balance at
ID ID Account Name Address City State Code Origination
- ------------------------------------------------------------------------------------------------------------------------------------
<C> <C> <S> <C> <C> <C> <C> <C> <C>
52 SBC103 800316390 GARDNER DENNIS A 1149 KING ARTHUR DRIVE MACON GA 31220 78,880.00
52 SBC103 800321341 MORRILL THOMAS S 12060 STONE CROSSING CIRCL TAMPA FL 33635 17,300.00
52 SBC103 800336471 BRANDT DANNY E 1668 PORTSMOUTH LAKE DRIVE BRANDON FL 33511 54,800.00
52 SBC103 800340770 CARLTON LINDA 0 1701 PEARL AVENUE ALBANY GA 31707 9,400.00
52 SBC103 800341885 SCOTT GEORGE M 1204 WEST HUDSON AVENUE NAMPA ID 83651 61,800.00
52 SBC103 800347023 EGGINK MARK J 6214 TYLER LANE FERNDALE WA 98248 17,300.00
52 SBC103 800348104 SHAFER SCOTT D 21229 117TH STREET EAST SUMNER WA 89390 15,200.00
52 SBC103 800355711 SKINNER KERN L 1709 SOUTH 74TH AVENUE YAKIMA WA 98908 30,900.00
52 SBC103 800365322 BROWN CHARLES D 1205 W CASCADE ST MOSES LAKE WA 98837 31,439.00
52 SBC103 800377954 JOHN THOMAS L 1065 SAGE DRIVE POCATELLO ID 83204 21,762.00
52 SBC103 800391443 HARDY PAMELA S 7515 PRINE ROAD SW OLYMPIA WA 98512 16,727.00
52 SBC103 5100000065 BORINO ANNA M 5640 FOREST SHORES DR NW OLYMPIA WA 98502 136,000.00
52 SBC103 5100000222 CRAIN LAWRENCE T 1003 NE 66TH STREET VANCOUVER WA 98665 24,500.00
52 SBC103 5100000255 CONLEY CAROL A 1044 SE 147TH AVENUE Portland OR 97233 89,800.00
52 SBC103 5100000412 SCHULTZ THOMAS R 18295 SW FARMINGTON ROAD ALOHA OR 97007 75,800.00
52 SBC103 5100000784 MARTIN MICHAEL 31758 NORTHEAST 103RD STRE CARNATION WA 98014 23,200.00
52 SBC103 5100000818 SERKALOW ALEX R 2265 ELLIS AVENUE NE SALEM OR 97301 23,366.00
52 SBC103 5100000867 POINTER DAVID W 2532 WESTWOOD PLACE SE ALBANY OR 97321 55,626.00
52 SBC103 5100001121 DOW PRUDENCE 314 NORTH 35TH AVENUE YAKIMA WA 98902 16,980.00
52 SBC103 5100001659 NIEDERT LYLE G 25180 S HUGHES LANE MULINO OR 97042 88,265.00
52 SBC103 5100002087 GROSS ADELINE L 2144 37TH AVE NW SALEM OR 97304 64,052.00
52 SBC103 5100002632 ROSELL WILLIAM G 7022 N NORMANDIE ST SPOKANE WA 99208 29,200.00
52 SBC103 5100003929 BAKER RICHARD L 6403 NE 140TH AVENUE VANCOUVER WA 98682 20,000.00
52 SBC103 5100004018 RALSTON R MICHAEL 1110 SOUTH TAFT STREET KENNEWICK WA 99338 26,900.00
52 SBC90 800278962 SCOTT MELVIN A 224 BRITTANY CRT MACON GA 31206 74,900.00
52 SBC90 800279028 WHITED JAMES D. 3312 REYNOLDS STREET BRUNSWICK GA 31520 32,040.00
52 SBC90 800300709 CHARLES RUBY E 48 WALNUT STREET TOCCOA GA 30577 52,400.00
52 SBC90 800304982 INKS CHARLES L 220 JACKSON DRIVE GRANDVIEW WA 98930 87,300.00
52 SBC90 800305054 PARKS LARRY C 116 W SALESYARD ROAD EMMETT ID 83617 91,200.00
52 SBC90 800305138 SOBIESCZYK JAMES A 2913 CARRIAGE WAY WEST LINN OR 97068 59,600.00
52 SBC90 800308157 COOPER RONALD L 8626 CRESTHILL AVENUE SAVANNAH GA 31406 49,500.00
52 SBC90 800316366 GIDDENS JOHN R 5471 JEFFERSONVILLE ROAD DRY BRANCH GA 31020 88,000.00
52 SBC90 800316465 SMITH MARY E 400 LOXLEY DRIVE WARNER ROBINS GA 31088 11,271.00
52 SBC90 800318909 PARKIN CHARLES N 170 CASCADE QUEY SODA SPRINGS ID 83276 63,500.00
52 SBC90 800339749 JACKSON JOE D 1500 SOUTH SHEPPARD STREET KENNEWICK WA 99338 94,200.00
52 SBC90 800340374 POCKLINGTON BRUCE A 2050 SW CORDOBA COURT CHEHALIS WA 98532 101,900.00
52 SBC90 800341240 ENGLISH MICHELLE L 7624 N ALBINA AVENUE PORTLAND OR 97217 13,900.00
52 SBC90 800341299 MOORE MARION L 1817 REDWOOD COURT FOREST GROVE OR 97116 111,600.00
52 SBC90 800343667 ANDERSON KATIE MAE 1006 EAST SOCIETY AVE ALBANY GA 31705 15,100.00
52 SBC90 800346629 MOORE MARION L 1817 REDWOOD COURT FOREST GROVE OR 97116 11,200.00
52 SBC90 800347486 GRIFFIN ROBERT E 58 CEDARHILLS DRIVE POCATELLO ID 83204 31,200.00
52 SBC90 800348427 WEBB D E 13241 SE RANSTAD COURT MILWAUKIE OR 97222 48,200.00
52 SBC90 800348484 SUTLICK ALBERT F 3135 CANBERRA DRIVE WALLA WALLA WA 99362 163,951.00
52 SBC90 800348518 BROWNING RONALD K 3024 GRANT ROAD EAST WENATCHEE WA 98802 29,406.00
52 SBC90 800355513 MONTALVO LINDA LOU 2707 CLINTON WAY YAKIMA WA 98902 10,900.00
52 SBC90 800355810 HOOPES GLORIA 4846 FREEDOM AVENUE CHUBBUCK ID 83202 30,400.00
52 SBC90 800356693 MORALES HUMBERTO F 846 17TH STREET WASHOUGAL WA 98671 47,794.00
52 SBC90 800365231 JAMISON DIRK 15540 SE DANA AVENUE MILWAUKIE OR 97267 15,200.00
52 SBC90 800365298 REAGAN ROBERT D 15017 NE 35TH CIRCLE VANCOUVER WA 98682 77,800.00
52 SBC90 800365306 PINKSTON ROBERT C 15301 SE ROYER ROAD CLACKAMAS OR 97015 125,527.00
52 SBC90 800366809 KERR DUANE G 6407 76TH ST SE SNOHOMISH WA 98290 113,900.00
52 SBC90 800366841 HACK HAROLD R 1518 NE 131ST CIRCLE VANCOUVER WA 98685 54,000.00
52 SBC90 800366932 FAHSHOLTZ CHRIS W 1816 SOUTH 18TH STREET UNION GAP WA 98903 14,419.00
52 SBC90 800369373 BYNUM JO ANNE A 612 SW 1ST COURT BATTLE GROUND WA 98604 77,952.00
52 SBC90 5100000057 BODNAR JOSEPH 17330 40TH AVENUE SOUTH SEATTLE WA 98188 13,300.00
52 SBC90 5100000206 CORDOVA MANDY B 606 198TH STREET SOUTHEAST BOTHELL WA 98012 44,400.00
52 SBC90 5100000297 HAGER FRANS CL 61176 FIR CREST KNOLL BEND OR 97702 95,600.00
52 SBC90 5100000651 QUARLES WILLIAM 17043 NORTHEAST 38TH PLACE BELLEVUE WA 98008 22,358.00
52 SBC90 5100000701 NUTT KIM J 4325 NW COLOUMBIA AVENUE PORTLAND OR 97229 44,212.00
52 SBC90 5100001162 RAGLIN THOMAS L 1616 PACIFIC AVE N KELSO WA 98626 14,709.00
52 SBC90 5100001170 HASART MARK E 8616 NE 110TH AVENUE VANCOUVER WA 98662 21,900.00
52 SBC90 5100001303 PORTESAN JOHN A 5630 178TH STREET SOUTHWES LYNNWOOD WA 98037 28,173.00
<CAPTION>
Cut-off Date First Original Current Scheduled
Pool Sale Principal Payment Maturity Rem Date LTV Mortgage Payment
ID ID Account Balance Date Date Term Due Ratio Rate Int & Prin
- ---------------------------------------------------------------------------------------------------------------------
<C> <C> <S> <C> <C> <C> <C> <C> <C> <C> <C>
52 SBC103 800316390 78,880.00 01/01/98 10/28/27 360.00 01/31/00 80.0 9.375 605.58
52 SBC103 800321341 17,300.00 01/01/98 11/10/16 228.00 01/31/00 86.3 11.875 176.73
52 SBC103 800336471 54,800.00 01/01/98 11/09/17 240.00 01/31/00 60.8 9.000 455.07
52 SBC103 800340770 9,400.00 01/01/98 11/15/12 180.00 01/31/00 89.6 11.875 103.42
52 SBC103 800341885 61,800.00 01/01/98 11/03/22 300.00 01/31/00 65.0 9.000 478.69
52 SBC103 800347023 17,300.00 01/01/98 11/22/07 120.00 01/31/00 79.1 10.875 218.80
52 SBC103 800348104 15,200.00 01/01/98 11/09/17 240.00 01/31/00 88.3 11.625 150.82
52 SBC103 800355711 30,900.00 01/01/98 11/22/07 120.00 01/31/00 76.2 10.750 388.80
52 SBC103 800365322 31,239.00 01/01/98 11/22/07 120.00 01/31/00 84.8 10.625 393.54
52 SBC103 800377954 21,762.00 01/01/98 11/22/07 120.00 01/31/00 42.9 10.625 272.41
52 SBC103 800391443 16,727.00 01/01/98 11/15/12 180.00 01/31/00 85.2 12.175 187.03
52 SBC103 5100000065 136,000.00 01/01/98 11/20/08 132.00 01/31/00 84.5 12.750 1,772.95
52 SBC103 5100000222 24,500.00 01/01/98 11/19/09 144.00 01/31/00 81.1 13.225 313.98
52 SBC103 5100000255 89,800.00 01/01/98 11/19/09 144.00 01/31/00 62.3 9.000 943.19
52 SBC103 5100000412 75,800.00 01/01/98 11/09/17 240.00 01/31/00 61.2 11.625 752.14
52 SBC103 5100000784 23,200.00 01/01/98 11/14/13 192.00 01/31/00 56.1 10.375 228.98
52 SBC103 5100000818 23,366.00 01/01/98 11/09/17 240.00 01/31/00 83.1 12.990 252.52
52 SBC103 5100000867 55,626.00 01/01/98 11/15/12 180.00 01/31/00 89.9 11.875 612.04
52 SBC103 5100001121 16,980.00 01/01/98 10/28/27 360.00 01/31/00 80.7 11.375 153.72
52 SBC103 5100001659 88,265.00 01/01/98 11/22/07 120.00 01/31/00 41.2 11.490 1,144.82
52 SBC103 5100002087 64,052.00 01/01/98 11/09/17 240.00 01/31/00 73.8 11.275 621.32
52 SBC103 5100002632 29,200.00 01/01/98 11/19/09 144.00 01/31/00 53.5 12.375 360.10
52 SBC103 5100003929 20,000.00 01/01/98 11/25/04 84.00 01/31/00 58.3 10.625 312.41
52 SBC103 5100004018 26,900.00 01/01/98 11/15/12 180.00 01/31/00 74.1 13.625 324.41
52 SBC90 800278962 74,900.00 12/01/97 09/29/25 335.00 01/31/00 78.8 9.330 580.53
52 SBC90 800279028 31,938.19 12/01/97 10/20/08 131.00 01/31/00 84.9 12.990 421.96
52 SBC90 800300709 52,400.00 12/01/97 10/24/05 95.00 01/31/00 74.8 9.000 708.47
52 SBC90 800304982 87,300.00 12/01/97 10/09/17 239.00 01/31/00 73.9 9.320 741.63
52 SBC90 800305054 91,200.00 12/01/97 10/04/21 287.00 01/31/00 80.0 9.320 732.71
52 SBC90 800305138 59,600.00 12/01/97 10/02/23 311.00 01/31/00 64.9 11.625 560.62
52 SBC90 800308157 49,434.37 12/01/97 10/09/17 239.00 01/31/00 77.3 9.320 420.51
52 SBC90 800316366 88,000.00 12/01/97 10/15/12 179.00 01/31/00 80.0 9.000 823.78
52 SBC90 800316465 11,271.00 12/01/97 10/09/17 239.00 01/31/00 88.6 12.525 118.37
52 SBC90 800318909 63,499.25 12/01/97 10/23/06 107.00 01/31/00 77.0 9.320 803.64
52 SBC90 800339749 93,750.86 12/01/97 10/22/07 119.00 01/31/00 67.2 9.000 1,101.29
52 SBC90 800340374 101,900.00 12/01/97 10/04/21 287.00 01/31/00 73.8 9.000 798.20
52 SBC90 800341240 13,900.00 12/01/97 10/22/07 119.00 01/31/00 74.0 10.875 175.80
52 SBC90 800341299 111,600.00 01/01/98 10/28/27 360.00 01/31/00 79.7 9.320 852.66
52 SBC90 800343667 14,931.50 11/01/97 09/28/02 58.00 01/31/00 41.6 12.375 312.61
52 SBC90 800346629 11,200.00 01/01/98 11/09/17 240.00 01/31/00 87.7 11.875 112.92
52 SBC90 800347486 31,200.00 01/01/98 11/09/17 240.00 01/31/00 89.1 12.475 326.67
52 SBC90 800348427 48,200.00 01/01/98 11/18/10 156.00 01/31/00 32.7 9.000 484.75
52 SBC90 800348484 163,951.00 11/01/97 09/19/09 142.00 01/31/00 66.9 8.500 1,679.68
52 SBC90 800348518 29,406.00 01/01/98 11/09/17 240.00 01/31/00 78.4 11.125 282.46
52 SBC90 800355513 10,793.23 11/01/97 09/23/06 106.00 01/31/00 87.1 11.625 150.62
52 SBC90 800355810 30,400.00 01/01/98 11/09/17 240.00 01/31/00 88.5 11.875 306.51
52 SBC90 800356693 47,794.00 01/01/98 11/19/09 144.00 01/31/00 46.8 9.000 501.99
52 SBC90 800365231 15,200.00 01/01/98 11/09/17 240.00 01/31/00 86.1 11.625 150.82
52 SBC90 800365298 77,800.00 01/01/98 11/10/16 228.00 01/31/00 58.4 9.000 658.40
52 SBC90 800365306 125,527.00 01/01/98 11/19/09 144.00 01/31/00 64.7 9.000 1,318.44
52 SBC90 800366809 113,900.00 01/01/98 11/22/07 120.00 01/31/00 55.5 9.000 1,331.61
52 SBC90 800366841 53,817.24 11/01/97 09/09/17 238.00 01/31/00 74.9 12.250 557.51
52 SBC90 800366932 14,358.14 11/01/97 09/22/07 118.00 01/31/00 88.4 11.125 184.25
52 SBC90 800369373 77,952.00 11/01/97 09/09/17 238.00 01/31/00 59.9 11.375 761.09
52 SBC90 5100000057 13,282.06 12/01/97 10/12/15 215.00 01/31/00 89.9 11.125 131.76
52 SBC90 5100000206 44,398.31 11/01/97 09/15/12 178.00 01/31/00 89.2 11.775 485.90
52 SBC90 5100000297 95,600.00 01/01/98 11/04/21 288.00 01/31/00 79.6 9.320 768.06
52 SBC90 5100000651 22,358.00 12/01/97 10/09/17 239.00 01/31/00 89.7 11.625 221.85
52 SBC90 5100000701 44,212.00 01/01/98 11/15/12 180.00 01/31/00 80.1 12.900 513.61
52 SBC90 5100001162 14,709.00 12/01/97 10/28/02 59.00 01/31/00 38.5 12.240 303.59
52 SBC90 5100001170 21,900.00 01/01/98 11/09/17 240.00 01/31/00 87.2 12.375 227.88
52 SBC90 5100001303 28,173.00 01/01/98 11/15/12 180.00 01/31/00 78.2 10.625 289.45
</TABLE>
<PAGE>
<TABLE>
Page 19
ALLIANCE FUNDING
A division of Superior Bank FSB
Sale Schedule -- Group 1, Sub Pool II
1997-4 Class 1 -- Initial of Fixed Rate Mortgages -- Settlement 12/22/97
<CAPTION>
Principal
Pool Sale Zip Balance at
ID ID Account Name Address City State Code Origination
- ------------------------------------------------------------------------------------------------------------------------------------
<C> <C> <S> <C> <C> <C> <C> <C> <C>
52 SBC90 5100001345 KENT LARRY W 812 NORTH WILBUR ROAD SPOKANE WA 99206 34,400.00
52 SBC90 5100001709 JONES TAMMY J 6717 NE 110TH AVENUE VANCOUVER WA 98662 24,938.00
52 SBC90 5100001766 KOOL IVO P 13617 NE 191ST AVENUE BRUSH PRAIRIE WA 98606 93,600.00
52 SBC90 5100002061 SALVATORI KURT A 3124 SOUTH 144TH STREET SEATTLE WA 98168 15,061.00
52 SBC90 5100002129 THIELE MARK E 4038 CONIFER PARK DRIVE SE PORT ORCHARD WA 98366 13,400.00
52 SBC90 5100002772 MARTINEZ ADRIA L 2116 NE STAPLETON ROAD VANCOUVER WA 98661 24,300.00
52 SBC90 5100002970 SEXTON LLOYD R W 811 NW TOWLE AVENUE GRESHAM OR 97030 14,800.00
52 SBC90 5100003853 QUERUBIN VINCE 2723 ALDERBROOK COURT N PUYALLUP WA 98374 23,400.00
52 SBC90 5100003895 STALDER PHILIP M 1018 QUEEN AVENUE YAKIMA WA 98902 13,900.00
---------------------------- -------------
146 Sale Total 7,025,208.00
53 BSC35D 800309668 BALLARD STEPHEN LEE 973 SHOCKNEY DRIVE ORMOND BEACH FL 32175 15,000.00
53 BSC35D 800328619 JUBRAN AMER 96 HILLSIDE AVENUE QUINCY MA 02170 11,475.00
53 BSC35D 800340127 CARMACK MILDRED L. 4201 BOWLIN COURT WAKE FOREST NC 27587 67,500.00
53 BSC35D 800357071 BOWERS WILLIAM J. 6338 RANNOCK DRIVE FAYETTEVILLE NC 28304 51,100.00
53 BSC35D 800367385 SWENSON RONALD J 13613 178TH AVE NE REDMOND WA 98052 59,450.00
53 BSC35D 800368235 BURKE THOMAS K 5070 RIVER LAKE DRIVE FAIRBURN GA 30213 38,500.00
53 BSC35D 800373748 ROSE SUSAN D 260 KAY ROAD BYRON GA 31008 40,500.00
53 BSC35D 800377822 HOLMGREN ROBERT G 31636 9TH PLACE SW FEDERAL WAY WA 98023 27,050.00
53 BSC35D 800379190 BERT PAMELA A 623 BROOKHAVEN COURT KIRKWOOD MO 63122 15,129.00
53 BSC35D 800379356 HOYT VIRGINIA L 2251 MIRA VISTA DRIVE EL CERRITO CA 94530 29,000.00
53 BSC35D 800382582 HOOVER GARY R 15 HILL PLACE WENTZVILLE MO 63385 45,885.00
53 BSC35D 800382608 DAVIES DEBRA 5361 MARINE PARKWAY NEW PORT RICHEY FL 34652 10,560.00
53 BSC35D 800392540 THOMPSON MATTHEW S 2765 MAIDA LANE SCHENECTADY NY 12306 33,600.00
53 BSC35D 800396715 MONGE CARLOS 6437 GEYSER AVENUE RESEDA CA 91335 54,900.00
53 BSC35D 800401010 CONDIE JOHN J 1118 2ND STREET KIRKLAND WA 98033 41,000.00
53 BSC35D 800402679 SUMMERS PAUL A 801 S KEENE ROAD CLEARWATER FL 34616 32,300.00
53 BSC35D 800405458 ETTLIN MARK K 425 NYES PLACE LAGUNA BEACH CA 92651 89,600.00
53 BSC35D 800405656 BRONDOU BERNARD E. 466 MALCOLM DRIVE MOON TOWNSHIP PA 15108 27,100.00
53 BSC35D 800406910 MARTIN GORDON L 206 SOUTH WEST 303RD STREE FEDERAL WAY WA 98023 16,200.00
53 BSC35D 800408585 HOBBY STEVEN A. 8956 NORTHEAST 192ND PLACE BOTHELL WA 98011 56,000.00
53 BSC35D 800409690 CHOMOS CYNTHIA L 7418 32ND AVENUE NW SEATTLE WA 98117 66,000.00
53 BSC35D 800413973 MOLIMIS ANTONIO 1434 SILVERTHORN DRIVE ORLANDO FL 32825 46,628.00
53 SB98 661537290 KELLY DIANNE L 8524 LOUISE DRIVE MENTOR OH 44060 24,400.00
53 SBC101 800233314 DAVIS JAMES S 170 NATIONAL DRIVE MONROEVILLE PA 15146 27,090.00
53 SBC101 800285918 DOWERS RICHARD B. 38015 SE FALL CREEK RD ESTACADA OR 97023 54,900.00
53 SBC101 800304933 LARSON BRADLEY D 107 SOUTHEAST MAPLE STREET COLLEGE PLACE WA 99324 21,800.00
53 SBC101 800352437 MOORE MICHAEL L 4910 NORTH REES ROAD SPOKANE WA 99216 80,000.00
53 SBC101 800384695 OLDS WARNER S 17689 CHARNWOOD DRIVE BOCA RATON FL 33498 35,000.00
53 SBC101 800399735 PUCCINELLI RONALD JOSEPH 3609 HIGHLAND AVENUE REDWOOD CITY CA 94062 42,500.00
53 SBC101 800403727 GARCIA FRANCISCO 790 LAKE SYBELIA DRIVE MAITLAND FL 32751 44,853.00
53 SBC101 800405698 PLESNIAK WALTER JR 1816 NEW YORK AVENUE PORT VUE PA 15133 27,354.00
53 SBC101 800418121 KOLSTAD RENDIE C 127 WOODRIDGE LANE MOORESVILLE NC 28115 30,000.00
53 SBC101 800422834 MISEJKA KENNETH L 913 CENTER STREET TARENTUM PA 15084 28,800.00
53 SBC101 800424624 FRANKEN MICHELE 6212 LAKESHORE DRIVE HOUSE SPRINGS MO 63051 39,000.00
53 SBC101 800426314 DUNDON THOMAS 12 BAXTER ROAD ELIZAVILLE NY 12523 28,700.00
53 SBC101 800432726 DENTON STEVEN J 103 EGGLESTON STREET CORINTH NY 12882 22,300.00
53 SBC101 800432775 WOJTAS DAVID F 1020 BREYMAN HIGHWAY TIPTON MI 49287 65,000.00
53 SBC101 800433872 DICKENS NATALIE S 16255 FULLERTON MEADOWS DR WILDWOOD MO 63011 25,278.00
53 SBC101 800439317 LYNCH JOSEPH 1226 EAST 11TH STREET EDDYSTONE PA 19022 16,000.00
53 SBC101 800444515 TRANKER CAROLE A 8217 CASSIE ROAD JACKSONVILLE FL 32221 50,468.00
53 SBC101 800450660 TINBERG JEANNE S 6043 RANDAN COURT NEW PORT RICHEY FL 34652 45,126.00
53 SBC102 800307571 HUDDLESTON CHARLES T 1256 PASADENA AVENUE NE ATLANTA GA 30306 55,500.00
53 SBC102 800438756 KIMBER KEVIN L 4901 SOUTH 600 WEST RIVERDALE UT 84405 48,564.00
53 SBC99 800341109 LARSEN CORINNE C 335 EAST 400 SOUTH STREET EPHRAIM UT 84627 29,000.00
53 SBC99 800353930 EPPS JAMES 1247 82ND BOULEVARD UNIVERSITY CITY MO 63132 17,247.00
53 SBC99 800422701 LALK SHARLENE M 821 WILSHIRE PLACE HERCULANEUM MO 63048 19,668.00
53 SBC99 800427239 STROLE BARBARA L 22415 SE 399TH ST ENUMCLAW WA 98022 67,300.00
53 SBC99 800428708 LEWIS TERESA G 615 WALL ST WENTZVILLE MO 63385 15,137.00
--------------------------- -------------
48 Sale Total 1,835,462.00
1,168 Grand Total Sub-Pool II 61,838,701.00
<CAPTION>
Cut-off Date First Original Current Scheduled
Pool Sale Principal Payment Maturity Rem Date LTV Mortgage Payment
ID ID Account Balance Date Date Term Due Ratio Rate Int & Prin
- -----------------------------------------------------------------------------------------------------------------------
<C> <C> <S> <C> <C> <C> <C> <C> <C> <C> <C>
52 SBC90 5100001345 34,400.00 01/01/98 11/19/09 144.00 01/31/00 89.3 11.625 409.81
52 SBC90 5100001709 24,938.00 01/01/98 11/15/12 180.00 01/31/00 71.7 10.625 256.21
52 SBC90 5100001766 93,140.95 11/01/97 09/22/07 118.00 01/31/00 55.0 8.500 1,071.05
52 SBC90 5100002061 14,938.76 11/01/97 09/22/07 118.00 01/31/00 85.3 11.875 198.42
52 SBC90 5100002129 13,400.00 12/01/97 10/28/02 59.00 01/31/00 85.4 12.140 275.95
52 SBC90 5100002772 24,300.00 12/01/97 10/09/17 239.00 01/31/00 89.1 11.740 242.91
52 SBC90 5100002970 14,743.65 12/01/97 10/22/07 119.00 01/31/00 57.0 12.875 202.93
52 SBC90 5100003853 23,379.96 12/01/97 10/09/17 239.00 01/31/00 84.1 12.625 247.29
52 SBC90 5100003895 13,900.00 01/01/98 11/28/02 60.00 01/31/00 54.8 10.625 276.51
----------------- ------ -----------------------------
146 7,020,324.28 203.97 74.4 10.496 73,692.57
53 BSC35D 800309668 14,901.83 09/27/97 08/27/17 236.84 01/31/00 62.9 10.150 146.25
53 BSC35D 800328619 11,475.00 11/06/97 10/06/12 178.16 01/31/00 80.8 12.950 144.81
53 BSC35D 800340127 67,073.71 11/03/97 10/03/17 238.06 01/31/00 90.0 11.900 738.53
53 BSC35D 800357071 51,095.59 11/01/97 10/01/17 238.00 01/31/00 70.0 9.100 463.05
53 BSC35D 800367385 59,372.15 10/26/97 09/26/17 237.83 01/31/00 80.1 12.000 654.60
53 BSC35D 800368235 38,500.00 11/01/97 10/01/12 178.00 01/31/00 89.5 11.550 450.98
53 BSC35D 800373748 40,500.00 11/06/97 10/06/17 238.16 01/31/00 90.0 11.650 436.10
53 BSC35D 800377822 26,895.76 11/01/97 10/01/17 238.00 01/31/00 83.2 10.300 266.44
53 BSC35D 800379190 15,129.00 11/06/97 10/06/07 118.16 01/31/00 79.5 10.900 207.55
53 BSC35D 800379356 28,883.04 11/14/97 10/14/07 118.42 01/31/00 37.6 9.650 377.64
53 BSC35D 800382582 45,813.92 11/16/97 10/16/12 178.49 01/31/00 69.0 8.900 462.67
53 BSC35D 800382608 10,526.52 11/14/97 10/14/12 178.42 01/31/00 89.9 11.550 123.70
53 BSC35D 800392540 33,501.19 11/08/97 10/08/07 118.22 01/31/00 76.0 10.300 449.63
53 BSC35D 800396715 54,889.56 11/14/97 10/14/12 178.42 01/31/00 89.6 10.900 518.68
53 BSC35D 800401010 41,000.00 11/16/97 10/16/17 238.49 01/31/00 89.9 10.900 420.41
53 BSC35D 800402679 32,295.94 11/07/97 10/07/17 238.19 01/31/00 89.2 10.800 329.01
53 BSC35D 800405458 89,585.53 11/15/97 10/15/17 238.45 01/31/00 84.9 12.000 986.57
53 BSC35D 800405656 27,078.65 11/13/97 10/13/12 178.39 01/31/00 89.8 11.300 313.14
53 BSC35D 800406910 16,145.01 11/16/97 10/16/12 178.49 01/31/00 83.7 9.650 170.63
53 BSC35D 800408585 55,981.98 11/21/97 10/21/17 238.65 01/31/00 83.1 10.050 542.27
53 BSC35D 800409690 65,913.10 11/14/97 10/14/17 238.42 01/31/00 75.2 10.750 670.05
53 BSC35D 800413973 46,528.97 11/16/97 10/16/17 238.49 01/31/00 85.0 12.250 521.56
53 SB98 661537290 24,400.00 10/15/97 09/15/27 357.47 01/31/00 75.1 14.625 301.22
53 SBC101 800233314 25,550.94 07/13/97 06/13/07 114.38 01/31/00 89.8 11.800 385.54
53 SBC101 800285918 54,631.29 09/25/97 08/25/12 176.78 01/31/00 61.4 10.650 611.98
53 SBC101 800304933 21,791.57 10/01/97 09/01/17 237.00 01/31/00 85.6 11.625 234.36
53 SBC101 800352437 79,970.39 11/01/97 10/01/12 178.00 01/31/00 80.0 8.820 802.87
53 SBC101 800384695 35,000.00 12/13/97 11/13/17 239.41 01/31/00 88.0 11.550 374.46
53 SBC101 800399735 42,500.00 12/07/97 11/07/17 239.21 01/31/00 84.0 12.750 490.37
53 SBC101 800403727 44,853.00 12/10/97 11/10/17 239.31 01/31/00 87.4 11.300 472.16
53 SBC101 800405698 27,354.00 12/17/97 11/17/12 179.54 01/31/00 90.0 11.300 316.08
53 SBC101 800418121 30,000.00 12/10/97 11/10/12 179.31 01/31/00 73.1 12.050 361.02
53 SBC101 800422834 28,800.00 12/17/97 11/17/07 119.54 01/31/00 79.8 13.500 438.55
53 SBC101 800424624 39,000.00 12/10/97 11/10/17 239.31 01/31/00 85.1 11.900 426.71
53 SBC101 800426314 28,700.00 12/05/97 11/05/12 179.15 01/31/00 79.6 11.650 338.01
53 SBC101 800432726 22,300.00 12/05/97 11/05/17 239.15 01/31/00 87.6 11.300 234.75
53 SBC101 800432775 65,000.00 12/13/97 11/13/17 239.41 01/31/00 89.3 10.900 666.50
53 SBC101 800433872 25,278.00 12/17/97 11/17/07 119.54 01/31/00 88.1 10.900 346.78
53 SBC101 800439317 16,000.00 12/11/97 11/11/07 119.34 01/31/00 84.6 10.150 212.77
53 SBC101 800444515 50,468.00 12/13/97 11/13/17 239.41 01/31/00 89.6 10.900 517.49
53 SBC101 800450660 45,126.00 12/10/97 11/10/17 239.31 01/31/00 82.2 11.900 493.73
53 SBC102 800307571 55,500.00 11/01/97 10/01/17 238.00 01/31/00 89.8 11.400 588.05
53 SBC102 800438756 48,564.00 12/17/97 11/17/12 179.54 01/31/00 85.2 11.900 579.73
53 SBC99 800341109 28,997.54 11/01/97 10/01/17 238.00 01/31/00 88.0 12.125 321.85
53 SBC99 800353930 17,207.15 11/01/97 10/01/07 118.00 01/31/00 54.3 9.900 226.97
53 SBC99 800422701 19,603.09 12/03/97 11/03/17 239.08 01/31/00 89.0 10.900 201.67
53 SBC99 800427239 67,143.50 12/01/97 11/01/17 239.00 01/31/00 85.4 9.150 612.02
53 SBC99 800428708 15,137.00 12/03/97 11/03/07 119.08 01/31/00 80.9 10.050 200.46
----------------- ------ -----------------------------
48 1,831,961.92 211.11 82.3 11.063 20,150.37
1,168 61,777,516.35 211.09 77.3 11.466 667,819.30
</TABLE>
<PAGE>
EXHIBIT H-3
MORTGAGE LOAN SCHEDULE FOR SUB-POOL III
<PAGE>
<TABLE>
<CAPTION>
Alliance Funding Sale Schedule B - Group 2, Sub-Pool III Page 1 - 12 12/17/97
A division of Superior Bank FSB 1997-4 Class 2 - Initial Pool of Adjustable Rate Mortgages - Settlement 12/22/97
Principal Type of Scheduled Cut-off Date Original Next Current
Balance at Mortgaged Payment Principal LTV Adjustment Mortgage
Pool ID Sale ID Account Name Origination Property Int & Prin Balance Ratio Date Rate
- -----------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
61 MLC170 800241994 PHILLIPS EDWARD J 55,250.00 1 479.76 55,148.36 85.0 01/01/98 9.875
61 MLC170 800271215 TARNEF MICHAEL A 100,000.00 1 859.15 99,858.91 58.8 08/01/99 9.750
61 MLC170 800288102 LANDIS ROBERT E 95,448.00 1 793.89 95,448.00 85.9 11/01/99 9.375
61 MLC170 800291502 RODRIGUEZ ANGELICA 144,500.00 1 1,362.48 144,447.05 85.0 04/01/98 10.875
61 MLC170 800298705 CLARK CHARLIA M 52,275.00 1 487.98 52,275.00 85.0 11/01/99 10.750
61 MLC170 800304826 HOLLY BRIAN 189,000.00 1 1,623.80 189,000.00 90.0 11/01/99 9.750
61 MLC170 800313447 HOLZER ERIC 210,000.00 1 1,670.85 209,882.27 75.0 04/01/98 8.875
61 MLC170 800317497 KING JACOB E III 51,139.00 1 496.69 51,000.04 81.1 09/01/99 11.250
61 MLC170 800326746 BROWN PAMELA A 65,000.00 1 606.76 64,975.53 63.7 11/01/99 10.750
61 MLC170 800330284 DOHRMANN MARK E 182,430.00 1 1,467.88 182,330.35 90.0 04/01/98 9.000
61 MLC170 800339715 LOCKEN ROBERT FRANCIS 101,700.00 1 873.76 101,700.00 88.4 11/01/99 9.750
61 MLC170 800340382 LARRABEE STEVEN R 103,500.00 1 985.65 103,463.10 90.0 10/01/99 11.000
61 MLC170 800348716 DAKIN PETER E 65,700.00 1 570.50 65,700.00 90.0 11/01/99 9.875
61 MLC170 800353229 EBERHARDT EDWARD J 50,000.00 1 415.87 49,974.76 71.4 11/01/99 9.375
61 MLC170 800353633 BLACKBURN RAYMOND 72,250.00 1 708.61 72,226.26 85.0 10/01/99 11.375
61 MLC170 800356164 PETERS ROBERT K 112,500.00 1 1,071.36 112,459.89 90.0 10/01/99 11.000
61 MLC170 800357568 SANTANA JAMES 89,090.00 1 907.83 89,063.79 80.9 11/01/99 11.875
61 MLC170 800357808 OTTO WALTER G III 193,050.00 1 1,838.46 192,981.17 90.0 11/01/99 11.000
61 MLC170 800358616 HEMPENSTALL LINDA A 130,475.00 1 1,145.01 130,417.28 85.0 04/01/98 10.000
61 MLC170 800358954 DUNN JAMES C 80,500.00 1 721.36 80,500.00 89.4 11/01/99 10.250
61 MLC170 800359069 O BYRNE PAULA J 192,400.00 1 1,832.28 192,331.39 80.0 10/01/99 11.000
61 MLC170 800360208 WINTERS JUNE 134,400.00 1 1,292.63 134,353.37 80.0 04/01/98 11.125
61 MLC170 800360273 BLANK WILLIAM 172,000.00 1 1,703.30 172,000.00 80.0 05/01/98 11.500
61 MLC170 800368201 KITLAS RON 45,500.00 1 395.10 45,479.33 70.0 11/01/99 9.875
61 MLC170 800369779 ASMAR HANI M 103,275.00 1 983.51 103,238.18 85.0 11/01/99 11.000
61 MLC170 800370934 PONIATOWSKI THOMAS J 139,000.00 1 1,297.54 138,947.67 82.7 11/01/99 10.750
61 MLC170 800372609 MILLER QUENTIN L 85,125.00 1 669.68 85,125.00 75.0 05/01/98 8.750
61 MLC170 800373169 ROSA CARMEN C 144,500.00 1 1,241.48 144,432.58 85.0 04/01/98 9.750
61 MLC170 800375750 WELCH EDWARD C 78,500.00 1 555.61 78,386.02 78.5 03/01/98 7.625
61 MLC170 800379554 GIAIMO ANGELO 36,000.00 1 325.95 36,000.00 55.3 11/01/99 10.375
61 MLC170 800386476 LANZARONE ANNE 136,800.00 1 1,315.72 136,508.51 90.0 05/01/99 11.125
61 MLC170 800387821 DURLIN DENNIS A 85,000.00 1 714.73 85,000.00 79.0 11/01/99 9.500
61 MLC170 800389165 AROCHO FERNANDO 81,000.00 1 695.92 80,962.21 75.0 04/01/98 9.750
61 MLC170 800392987 BULLS DONALD 71,400.00 1 679.96 71,400.00 85.0 11/01/99 11.000
61 MLC170 800401192 GRUMEZA ION 193,500.00 1 1,662.46 193,500.00 75.0 05/01/98 9.750
61 MLC170 800402430 MOTEN WILLIE E 87,200.00 1 863.53 87,200.00 80.0 11/01/99 11.500
61 MLC170 800404469 DUNN ACCENT 92,300.00 1 958.30 92,274.31 65.9 11/01/99 12.125
61 MLC170 800408460 BOVA CHARLES F JR 149,400.00 1 1,297.31 149,400.00 90.0 11/01/99 9.875
61 MLC170 800409906 HUGGLER MICHAEL D 151,200.00 1 1,189.49 151,200.00 90.0 11/01/99 8.750
61 MLC170 800412918 LITTLE DAVID E 103,950.00 1 902.65 103,950.00 90.0 11/01/99 9.875
61 MLC170 800424541 WESARG WALTER 119,000.00 1 1,224.05 119,000.00 83.8 11/01/99 12.000
61 MLC170 800425118 ROSS BETSY 57,600.00 1 543.10 57,600.00 80.0 11/01/99 10.875
61 MLC170 800427288 MARTIN BARRY G 162,750.00 1 1,265.85 162,750.00 75.0 11/01/99 8.625
61 MLC170 800427296 CHASE LEE E 113,400.00 1 1,005.66 113,400.00 90.0 11/01/99 10.125
61 MLC170 800428385 THEIS MARK A 144,000.00 1 1,357.76 144,000.00 79.9 11/01/99 10.875
61 MLC172 800207649 EDOUARD JULIO MD 74,250.00 1 700.10 74,111.46 75.0 07/01/99 10.875
61 MLC172 800216467 KATCHMER GERALD N 33,600.00 1 335.95 33,528.50 80.0 07/01/99 11.625
61 MLC172 800243453 ARSENYEVICTZ ALICE 59,500.00 1 606.31 59,464.81 85.0 09/01/99 11.875
61 MLC172 800261570 ORLANDO RICHARD T 112,000.00 1 1,141.29 111,934.23 68.7 09/01/99 11.875
61 MLC172 800268682 REDD CRAIG 88,200.00 1 790.36 88,200.00 70.0 11/01/99 10.250
61 MLC172 800279127 ALLEN JOHN C. 71,400.00 1 686.71 71,375.23 85.0 11/01/99 11.125
61 MLC172 800279150 DALEY PATRICIA A 95,000.00 1 1,050.89 94,978.28 70.8 10/01/99 13.000
61 MLC172 800281354 ECHON DAVID 66,000.00 1 603.73 65,947.31 70.2 10/01/99 10.500
61 MLC172 800290041 MUHAMMAD AL HASAN MAIK 55,000.00 1 544.66 54,946.75 73.3 09/01/99 11.500
61 MLC172 800293235 JOHNSON ERIC W 65,700.00 1 638.12 65,655.43 90.0 09/01/99 11.250
61 MLC172 800301327 KLEPTACH TERRY 29,750.00 1 300.30 29,731.91 85.0 09/01/99 11.750
61 MLC172 800301608 BOVILLE LAWRENCE A JR 128,350.00 1 1,295.58 128,271.98 85.0 09/01/99 11.750
<CAPTION>
Property
Value at Owner
Pool ID Sale ID Account Origination Occupied
- ----------------------------------------------------
<S> <C> <C> <C> <C>
61 MLC170 800241994 65,000.00 Y
61 MLC170 800271215 170,000.00 Y
61 MLC170 800288102 111,000.00 Y
61 MLC170 800291502 170,000.00 Y
61 MLC170 800298705 61,500.00 Y
61 MLC170 800304826 210,000.00 Y
61 MLC170 800313447 280,000.00 Y
61 MLC170 800317497 63,000.00 Y
61 MLC170 800326746 102,000.00 Y
61 MLC170 800330284 202,700.00 Y
61 MLC170 800339715 115,000.00 Y
61 MLC170 800340382 115,000.00 Y
61 MLC170 800348716 73,000.00 Y
61 MLC170 800353229 70,000.00 Y
61 MLC170 800353633 85,000.00 Y
61 MLC170 800356164 125,000.00 Y
61 MLC170 800357568 110,000.00 Y
61 MLC170 800357808 214,500.00 Y
61 MLC170 800358616 153,500.00 Y
61 MLC170 800358954 90,000.00 Y
61 MLC170 800359069 240,500.00 Y
61 MLC170 800360208 168,000.00 Y
61 MLC170 800360273 215,000.00 Y
61 MLC170 800368201 65,000.00 N
61 MLC170 800369779 121,500.00 Y
61 MLC170 800370934 168,000.00 Y
61 MLC170 800372609 113,500.00 Y
61 MLC170 800373169 170,000.00 Y
61 MLC170 800375750 100,000.00 Y
61 MLC170 800379554 65,000.00 Y
61 MLC170 800386476 152,000.00 Y
61 MLC170 800387821 107,500.00 Y
61 MLC170 800389165 108,000.00 Y
61 MLC170 800392987 84,000.00 Y
61 MLC170 800401192 258,000.00 Y
61 MLC170 800402430 109,000.00 Y
61 MLC170 800404469 140,000.00 Y
61 MLC170 800408460 166,000.00 Y
61 MLC170 800409906 168,000.00 Y
61 MLC170 800412918 115,500.00 Y
61 MLC170 800424541 142,000.00 Y
61 MLC170 800425118 72,000.00 Y
61 MLC170 800427288 217,000.00 Y
61 MLC170 800427296 126,000.00 Y
61 MLC170 800428385 180,200.00 Y
61 MLC172 800207649 99,000.00 Y
61 MLC172 800216467 42,000.00 Y
61 MLC172 800243453 70,000.00 Y
61 MLC172 800261570 163,000.00 Y
61 MLC172 800268682 126,000.00 N
61 MLC172 800279127 84,000.00 Y
61 MLC172 800279150 134,000.00 Y
61 MLC172 800281354 94,000.00 Y
61 MLC172 800290041 75,000.00 Y
61 MLC172 800293235 73,000.00 Y
61 MLC172 800301327 35,000.00 Y
61 MLC172 800301608 151,000.00 Y
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
Alliance Funding Sale Schedule B - Group 2, Sub-Pool III Page 2 - 12 12/17/97
A division of Superior Bank FSB 1997-4 Class 2 - Initial Pool of Adjustable Rate Mortgages - Settlement 12/22/97
Principal Type of Scheduled Cut-off Date Original Next Current
Balance at Mortgaged Payment Principal LTV Adjustment Mortgage
Pool ID Sale ID Account Name Origination Property Int & Prin Balance Ratio Date Rate
- ------------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
61 MLC172 800307738 ZIPPITTELLI, LOUIS A SR 93,750.00 1 901.67 93,684.64 75.0 10/01/99 11.125
61 MLC172 800319402 MEJIA FRANCISCO 121,500.00 1 1,032.74 121,500.00 90.0 11/01/99 9.625
61 MLC172 800328775 MAYER ELZBIETA B 178,500.00 1 1,699.90 178,436.35 85.0 04/01/98 11.000
61 MLC172 800329104 CAMPBELL MAXINE L 51,200.00 1 531.58 51,171.36 80.0 10/01/99 12.125
61 MLC172 800329237 CARRERO JOSEPH 100,000.00 1 877.57 100,000.00 38.4 11/01/99 10.000
61 MLC172 800337859 WRECSICS ANNA M 113,200.00 1 1,219.13 113,171.83 80.0 11/01/99 12.625
61 MLC172 800339194 AGONITO CHRISTOPHE P 42,400.00 1 415.84 42,386.08 80.0 11/01/99 11.375
61 MLC172 800341380 CARR MARGARET 50,400.00 1 503.92 50,336.40 60.0 08/01/99 11.625
61 MLC172 800342958 MCDOWELL ELLEN C 52,900.00 1 503.78 52,862.10 64.9 09/01/99 11.000
61 MLC172 800343311 MILLER CHARLES M 64,800.00 1 697.87 64,800.00 80.0 11/01/99 12.625
61 MLC172 800348013 HERNDON LILALVA 128,000.00 1 1,316.62 128,000.00 80.0 11/01/99 12.000
61 MLC172 800355414 AUSTIN JACQUELINE E 63,890.00 1 669.50 63,872.71 80.8 10/01/99 12.250
61 MLC172 800357048 MARTIN GARY J 119,700.00 1 1,185.38 119,661.74 90.0 10/01/99 11.500
61 MLC172 800359481 MEBS CHARLES A JR 106,250.00 1 1,011.84 106,212.12 82.3 10/01/99 11.000
61 MLC172 800359895 SINGH RAJENDRA M 111,650.00 1 1,021.31 111,605.63 85.8 04/01/98 10.500
61 MLC172 800364879 NIEMKIEWICZ SEBASTIAN 140,250.00 1 1,204.96 140,184.57 85.0 05/01/98 9.750
61 MLC172 800367484 WINTERS ROBERT J 62,900.00 1 489.23 62,900.00 85.0 11/01/99 8.625
61 MLC172 800367765 DEJESUS EDWIN JR 100,000.00 1 886.82 99,956.93 84.0 11/01/99 10.125
61 MLC172 800370157 PICKLES THOMAS G 100,000.00 1 813.63 99,946.79 80.0 11/01/99 9.125
61 MLC172 800370611 RAGSDALE ANDREA 61,200.00 1 531.43 61,200.00 85.0 11/01/99 9.875
61 MLC172 800371817 DUROSEAU ELIA 155,550.00 1 1,600.01 155,460.53 85.0 10/01/99 12.000
61 MLC172 800372096 MCGINTY JAMES R JR 60,350.00 1 574.73 60,350.00 85.0 11/01/99 11.000
61 MLC172 800375701 PRIBBLE ALAN DALE 133,250.00 1 1,157.07 133,189.47 65.0 10/01/99 9.875
61 MLC172 800376865 REIDENAUER CATHIE B 76,600.00 1 715.05 76,600.00 64.9 11/01/99 10.750
61 MLC172 800377624 BOLYARD LEONARD R 61,000.00 1 609.90 61,000.00 84.7 11/01/99 11.625
61 MLC172 800379786 SUBER SHERRY 28,000.00 1 304.27 27,993.23 80.0 11/01/99 12.750
61 MLC172 800387185 RODRIGUEZ ALFRANIO 140,250.00 1 1,282.93 140,194.26 85.0 10/01/99 10.500
61 MLC172 800387490 HARRIS KENT R. 128,000.00 1 1,243.21 127,956.79 80.0 10/01/99 11.250
61 MLC172 800388316 MARCOUX HENRY E JR 99,000.00 1 1,104.82 98,977.99 45.0 10/01/99 13.125
61 MLC172 800391062 DEIBERT BRADLEY J 83,200.00 1 722.47 83,162.20 80.0 10/01/99 9.875
61 MLC172 800391153 VINCENT MICHAEL 153,000.00 1 1,258.69 153,000.00 84.5 05/01/98 9.250
61 MLC172 800395402 BOOTHE EDWARD J. 85,850.00 1 737.58 85,809.95 85.0 11/01/99 9.750
61 MLC172 800396475 HARTSUFF JAMES H 85,000.00 1 730.28 85,000.00 76.5 11/01/99 9.750
61 MLC172 800400558 OSTINI EDWARD A 116,000.00 1 1,204.36 116,000.00 80.0 11/01/99 12.125
61 MLC172 800403198 VAN WHY PETER H 54,000.00 1 454.06 54,000.00 65.8 11/01/99 9.500
61 MLC172 800404832 WALTH HILTON R 57,400.00 1 421.18 57,400.00 70.0 05/01/98 8.000
61 MLC172 800405540 MANSARAY ALEX 92,000.00 1 999.76 92,000.00 80.0 11/01/99 12.750
61 MLC172 800405961 TADRY DIANA 148,000.00 1 1,285.16 148,000.00 80.0 11/01/99 9.875
61 MLC172 800407652 MCCULLER MARVIN 45,050.00 1 450.43 45,050.00 85.0 11/01/99 11.625
61 MLC172 800407876 BRACKETT TIMOTHY LYNN 66,300.00 1 675.60 66,300.00 85.0 11/01/99 11.875
61 MLC172 800411779 ANDERSON HARRY B JR 49,600.00 1 491.18 49,584.15 80.0 11/01/99 11.500
61 MLC172 800413486 TSIOPELAS GEORGE 142,800.00 1 1,359.92 142,697.69 85.0 03/26/98 11.000
61 MLC172 800424723 ALLISON CLAY W 96,000.00 1 950.68 96,000.00 80.0 11/01/99 11.500
----------------------------------------------- -------------------------------- -------
100 Sale Total 9,920,447.00 91,603.28 9,917,051.73 80.5 10.602
62 CPI1 52415 JANICKE GERALD 111,500.00 1 843.30 104,864.17 60.2 02/01/98 8.375
62 CPI1 54874 ENGLISH ROBERT A 86,400.00 1 652.24 81,692.70 89.5 09/01/98 8.375
62 CPI1 57943 DENNIS JACK D 51,000.00 1 326.56 48,178.09 39.2 05/01/98 6.625
62 CPI1 58966 KLASS TIMOTHY H 130,150.00 1 833.37 122,948.47 92.9 05/01/98 6.625
62 CPI1 59105 ZIELINSKI STEVEN G 104,000.00 1 665.93 98,566.58 80.0 08/01/98 6.625
62 CPI1 60954 URBEN BRUCE 85,000.00 1 551.31 79,276.12 60.7 11/01/98 6.750
62 CPI1 506394 REILLY DONALD J 150,000.00 1 972.90 141,980.81 88.2 10/01/98 6.750
62 CPI1 506998 CARVER ANDREW B 122,300.00 1 793.24 115,714.41 76.4 10/01/98 6.750
62 CPI1 507103 SAYRE MARY M 60,000.00 1 535.12 49,426.91 26.6 11/01/98 6.875
62 CPI1 507319 HOPPE KATHLEEN S 86,400.00 1 560.39 82,183.67 80.0 10/01/98 6.750
62 CPI1 507632 OVERLIN THOMAS P 178,400.00 1 1,157.10 169,962.97 80.0 11/01/98 6.750
62 CPI1 507798 ZELLEZ RUTH 169,000.00 1 1,096.14 160,671.49 66.2 11/01/98 6.750
<CAPTION>
Property
Value at Owner
Pool ID Sale ID Account Origination Occupied
- ----------------------------------------------------
<S> <C> <C> <C> <C>
61 MLC172 800307738 125,000.00 Y
61 MLC172 800319402 135,000.00 Y
61 MLC172 800328775 210,000.00 Y
61 MLC172 800329104 64,000.00 Y
61 MLC172 800329237 260,000.00 Y
61 MLC172 800337859 141,500.00 Y
61 MLC172 800339194 53,000.00 Y
61 MLC172 800341380 84,000.00 Y
61 MLC172 800342958 81,400.00 Y
61 MLC172 800343311 81,000.00 Y
61 MLC172 800348013 160,000.00 Y
61 MLC172 800355414 79,000.00 Y
61 MLC172 800357048 133,000.00 Y
61 MLC172 800359481 129,000.00 Y
61 MLC172 800359895 130,000.00 Y
61 MLC172 800364879 165,000.00 Y
61 MLC172 800367484 74,000.00 Y
61 MLC172 800367765 119,000.00 Y
61 MLC172 800370157 125,000.00 Y
61 MLC172 800370611 72,000.00 Y
61 MLC172 800371817 183,000.00 Y
61 MLC172 800372096 71,000.00 Y
61 MLC172 800375701 205,000.00 Y
61 MLC172 800376865 118,000.00 Y
61 MLC172 800377624 72,000.00 Y
61 MLC172 800379786 35,000.00 Y
61 MLC172 800387185 165,000.00 Y
61 MLC172 800387490 160,000.00 Y
61 MLC172 800388316 220,000.00 Y
61 MLC172 800391062 104,000.00 Y
61 MLC172 800391153 181,000.00 Y
61 MLC172 800395402 101,000.00 Y
61 MLC172 800396475 111,000.00 Y
61 MLC172 800400558 145,000.00 Y
61 MLC172 800403198 82,000.00 Y
61 MLC172 800404832 82,000.00 N
61 MLC172 800405540 115,000.00 Y
61 MLC172 800405961 185,000.00 Y
61 MLC172 800407652 53,000.00 Y
61 MLC172 800407876 78,000.00 Y
61 MLC172 800411779 62,000.00 Y
61 MLC172 800413486 168,000.00 Y
61 MLC172 800424723 120,000.00 Y
---------------------------
100 12,540,800.00
62 CPI1 52415 185,000.00 Y
62 CPI1 54874 96,500.00 Y
62 CPI1 57943 130,000.00 Y
62 CPI1 58966 140,000.00 Y
62 CPI1 59105 130,000.00 Y
62 CPI1 60954 140,000.00 Y
62 CPI1 506394 170,000.00 Y
62 CPI1 506998 160,000.00 Y
62 CPI1 507103 225,000.00 Y
62 CPI1 507319 108,000.00 Y
62 CPI1 507632 223,000.00 Y
62 CPI1 507798 255,000.00 Y
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
Alliance Funding Sale Schedule B - Group 2, Sub-Pool III Page 3 - 12 12/17/97
A division of Superior Bank FSB 1997-4 Class 2 - Initial Pool of Adjustable Rate Mortgages - Settlement 12/22/97
Principal Type of Scheduled Cut-off Date Original Next Current
Balance at Mortgaged Payment Principal LTV Adjustment Mortgage
Pool ID Sale ID Account Name Origination Property Int & Prin Balance Ratio Date Rate
- ------------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
62 SB581 161532619 KASHAM RAFIQ 120,000.00 1 849.35 119,913.15 80.0 04/01/98 7.625
62 SB581 161535703 DAVIDSON ANTHONY B 132,800.00 1 1,092.51 132,661.79 80.0 09/01/99 9.250
62 SB581 161538624 MONTGOMERY THOMAS G 108,000.00 1 987.92 107,957.08 80.0 11/01/99 10.500
62 SB581 161540844 DEBARDELEBEN MONTINA 59,500.00 1 566.63 59,478.79 85.0 10/01/99 11.000
62 SB581 161542295 TOTH ANDRAS 108,900.00 1 905.78 108,845.00 90.0 04/01/98 9.375
62 SB581 161548169 JOHNSON DANIEL 94,500.00 1 829.31 94,458.19 90.0 04/01/98 10.000
62 SB581 161548540 KOWICH KIMBERLY A 69,700.00 1 573.41 69,627.44 85.0 09/01/99 9.250
62 SB581 161548557 STANCH MICHAEL M 90,900.00 1 731.40 90,850.35 84.1 04/01/98 9.000
62 SB581 161548607 MOORE EVELYN SINQUEFIE 87,300.00 1 774.20 87,262.39 90.0 04/01/98 10.125
62 SB581 161548698 MCCLURE DIANNE 29,700.00 1 268.91 29,687.87 84.8 11/01/99 10.375
62 SB581 161549423 CROWDER TERRY D 39,600.00 1 380.87 39,586.25 84.2 10/01/99 11.125
62 SB581 161551015 COOPER CHARLES L 73,000.00 1 660.95 73,000.00 69.1 11/01/99 10.375
62 SB581 161551064 WILLIAMS SCOTT G 73,800.00 1 695.85 73,745.68 90.0 10/01/99 10.875
62 SB581 161552427 SEGAL NEIL 72,000.00 1 719.89 71,955.00 80.0 10/01/99 11.625
62 SB581 161553961 MOSS GREEN W III 63,000.00 1 605.92 62,978.14 70.0 10/01/99 11.125
62 SB581 161553995 FELSTER DOUGLAS G 61,800.00 1 542.34 61,745.09 75.0 04/01/98 10.000
62 SB581 161555842 BARON MICHAEL 89,000.00 1 805.81 89,000.00 89.8 11/01/99 10.375
62 SB581 161556956 PRINCE MARY ANN 66,400.00 1 715.11 66,400.00 80.0 11/01/99 12.625
62 SB581 161557897 DUNIGAN ERIC V 78,900.00 1 729.11 78,900.00 61.1 11/01/99 10.625
62 SB581 161558341 CHRAPKOWSKI JOHN E 106,200.00 1 835.48 106,200.00 84.9 11/01/99 8.750
62 SB581 161558523 NEWTON MARY E 79,200.00 1 717.08 79,200.00 90.0 11/01/99 10.375
62 SB581 161560586 MINER CAROLYN 63,000.00 1 617.88 62,979.31 50.4 11/01/99 11.375
62 SB581 161560974 HUFFMAN BART A 55,200.00 1 525.68 55,180.32 84.9 10/01/99 11.000
62 SB581 161561634 HEIM DOUGLAS C 58,400.00 1 634.63 58,400.00 80.0 11/01/99 12.750
62 SB581 161561659 GURAK CHRISTOPHE 144,000.00 1 1,357.76 144,000.00 87.2 11/01/99 10.875
62 SB581 161561766 DRAKE KAREN 38,200.00 1 367.40 38,186.75 73.4 11/01/99 11.125
62 SB581 161562046 AVERY GERI 25,800.00 1 205.28 25,785.53 57.3 11/01/99 8.875
62 SB581 161562459 TOTTY KEVIN 74,700.00 1 704.34 74,672.63 90.0 10/01/99 10.875
62 SB581 161562509 HOLMAN KENNETH A 80,000.00 1 694.68 80,000.00 80.0 11/01/99 9.875
62 SB581 161562772 FRAY VERNON 199,800.00 1 1,809.00 199,718.44 88.8 11/01/99 10.375
62 SB581 161563135 KELLER GARY W 46,800.00 1 410.70 46,800.00 90.0 11/01/99 10.000
62 SB581 161565460 ROBINSON ROY E JR 138,600.00 1 1,041.26 138,600.00 79.9 05/01/98 8.250
62 SB581 161566914 PETRO ALBERT M 192,000.00 1 2,086.45 192,000.00 80.0 11/01/99 12.750
62 SB581 161566971 DAVIS CHARLIE MAE 47,000.00 1 429.93 47,000.00 68.1 05/01/98 10.500
62 SB581 161566989 TOCCO CHRISTIAN 137,700.00 1 1,107.97 137,549.00 85.0 10/01/99 9.000
62 SB581 161567680 KING MARILYN 50,400.00 1 442.30 50,355.21 86.8 10/01/99 10.000
62 SB581 161567854 BELL DOUGLAS 123,200.00 1 1,069.81 123,144.02 84.9 10/01/99 9.875
62 SB581 161568704 HUSTON JAMES A 97,500.00 1 873.70 97,459.11 72.2 11/01/99 10.250
62 SB581 161569264 APPLEWHITE CHARLES 25,300.00 1 262.68 25,300.00 64.8 05/01/98 12.125
62 SB581 161569330 WALDRON THERESE 204,000.00 1 2,118.02 204,000.00 80.0 05/01/98 12.125
62 SB581 161570338 PEPERA RENEE 138,500.00 1 1,241.10 138,441.92 84.9 04/01/98 10.250
62 SB581 161570411 MAHL ROBERT E 68,000.00 1 738.95 67,983.55 80.0 11/01/99 12.750
62 SB581 161571070 BOGGS DIANNA S 116,000.00 1 1,082.84 116,000.00 74.8 06/01/98 10.750
62 SB581 161571179 TRESS TIMOTHY 100,000.00 1 840.85 99,901.25 54.3 04/01/98 9.500
62 SB581 161571328 DECKER JANET L 136,000.00 1 1,412.01 135,962.16 77.7 10/01/99 12.125
62 SB581 161571955 AIRD MARY BETH 172,000.00 1 1,415.00 172,000.00 78.8 11/01/99 9.250
62 SB581 161571963 WURST STEVEN W 206,900.00 1 1,720.89 206,900.00 84.9 05/01/98 9.375
62 SB581 161572300 EDWIN PARAMBALOT A 133,200.00 1 1,107.89 133,132.74 90.0 05/01/98 9.375
62 SB581 161573068 SCANLAND JOSEPH L 81,900.00 1 741.53 81,866.56 90.0 10/01/99 10.375
62 SB581 161573654 MCKAY GEORGE S 142,400.00 1 1,210.39 142,400.00 80.0 11/01/99 9.625
62 SB581 161573746 SANSONETTI JOSEPH P 154,000.00 1 1,423.11 154,000.00 70.0 11/01/99 10.625
62 SB581 161574868 ERICKSON KATHLEEN M 70,200.00 1 635.60 70,200.00 90.0 11/01/99 10.375
62 SB581 161574967 MCMAHON STEVEN M 136,000.00 1 1,308.02 135,952.81 85.0 11/01/99 11.125
62 SB581 161576764 VIECE MARK J 135,000.00 1 1,197.21 135,000.00 90.0 11/01/99 10.125
62 SB581 161577002 DELISI KENNETH W 157,500.00 1 1,338.73 157,424.55 75.0 11/01/99 9.625
62 SB581 161577044 COOK ALFONIA 104,500.00 1 1,024.90 104,500.00 84.9 11/01/99 11.375
62 SB581 161577192 EUBANKS JACKIE E 139,050.00 1 1,271.95 139,050.00 90.0 11/01/99 10.500
<CAPTION>
Property
Value at Owner
Pool ID Sale ID Account Origination Occupied
- ----------------------------------------------------
<S> <C> <C> <C> <C>
62 SB581 161532619 150,000.00 Y
62 SB581 161535703 166,000.00 Y
62 SB581 161538624 135,000.00 Y
62 SB581 161540844 70,000.00 Y
62 SB581 161542295 121,000.00 Y
62 SB581 161548169 105,000.00 Y
62 SB581 161548540 82,000.00 Y
62 SB581 161548557 108,000.00 Y
62 SB581 161548607 97,000.00 Y
62 SB581 161548698 35,000.00 Y
62 SB581 161549423 47,000.00 Y
62 SB581 161551015 105,600.00 Y
62 SB581 161551064 82,000.00 Y
62 SB581 161552427 90,000.00 Y
62 SB581 161553961 90,000.00 N
62 SB581 161553995 82,400.00 Y
62 SB581 161555842 99,000.00 Y
62 SB581 161556956 83,000.00 Y
62 SB581 161557897 129,000.00 Y
62 SB581 161558341 125,000.00 Y
62 SB581 161558523 88,000.00 Y
62 SB581 161560586 125,000.00 Y
62 SB581 161560974 65,000.00 Y
62 SB581 161561634 73,000.00 Y
62 SB581 161561659 165,000.00 Y
62 SB581 161561766 52,000.00 Y
62 SB581 161562046 45,000.00 Y
62 SB581 161562459 83,000.00 Y
62 SB581 161562509 100,000.00 Y
62 SB581 161562772 225,000.00 Y
62 SB581 161563135 52,000.00 Y
62 SB581 161565460 173,300.00 Y
62 SB581 161566914 240,000.00 Y
62 SB581 161566971 69,000.00 Y
62 SB581 161566989 162,000.00 Y
62 SB581 161567680 58,000.00 Y
62 SB581 161567854 145,000.00 Y
62 SB581 161568704 135,000.00 Y
62 SB581 161569264 39,000.00 Y
62 SB581 161569330 255,000.00 Y
62 SB581 161570338 163,000.00 Y
62 SB581 161570411 85,000.00 Y
62 SB581 161571070 155,000.00 Y
62 SB581 161571179 184,000.00 Y
62 SB581 161571328 175,000.00 Y
62 SB581 161571955 218,000.00 Y
62 SB581 161571963 243,500.00 Y
62 SB581 161572300 148,000.00 Y
62 SB581 161573068 91,000.00 Y
62 SB581 161573654 178,000.00 Y
62 SB581 161573746 220,000.00 Y
62 SB581 161574868 78,000.00 Y
62 SB581 161574967 160,000.00 Y
62 SB581 161576764 150,000.00 Y
62 SB581 161577002 210,000.00 Y
62 SB581 161577044 123,000.00 Y
62 SB581 161577192 154,500.00 Y
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
Alliance Funding Sale Schedule B - Group 2, Sub-Pool III Page 4 - 12 12/17/97
A division of Superior Bank FSB 1997-4 Class 2 - Initial Pool of Adjustable Rate Mortgages - Settlement 12/22/97
Principal Type of Scheduled Cut-off Date Original Next Current
Balance at Mortgaged Payment Principal LTV Adjustment Mortgage
Pool ID Sale ID Account Name Origination Property Int & Prin Balance Ratio Date Rate
- ------------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
62 SB581 161577242 SPRAGUE APRIL L 92,700.00 1 847.96 92,663.17 90.0 11/01/99 10.500
62 SB581 161577317 CONLY SHARON A 100,300.00 1 964.67 100,300.00 78.3 12/01/99 11.125
62 SB581 161578596 DENNIS GEORGE 130,500.00 1 1,038.32 130,500.00 90.0 05/01/98 8.875
62 SB581 161582788 MOLNAR CHRISTOPHE D 78,800.00 1 598.94 78,800.00 80.0 05/01/98 8.375
62 SB581 161582804 LEWIS HENDERSON 45,900.00 1 385.96 45,877.42 90.0 05/01/98 9.500
62 SB581 161582838 PRUETT DARRYL M 153,000.00 1 1,162.92 152,904.90 85.0 05/01/98 8.375
62 SB581 161585153 KOZAK RICHARD 67,000.00 1 631.74 67,000.00 38.2 11/01/99 10.875
62 SB581 161585864 KOCH NORBERT R 93,800.00 1 696.46 93,800.00 65.1 06/01/98 8.125
62 SB581 161588496 SKOGLUND ROBERT G 81,900.00 1 787.70 81,900.00 65.0 06/01/98 11.125
62 SB581 161588579 HIGGINS MIKE P 67,500.00 1 586.14 67,500.00 75.0 12/01/99 9.875
62 SB583 161502109 MCBRIDE TERRANCE K 119,250.00 1 1,068.60 119,047.40 90.0 07/01/99 10.250
62 SB583 161525563 LYNN SHAWN C 118,800.00 1 1,108.98 118,618.66 90.0 07/01/99 10.750
62 SB583 161534342 DOTSON VERNON M 180,000.00 1 1,663.38 180,000.00 75.0 12/01/99 10.625
62 SB583 161537873 VALDEZ EMMANUEL V V 138,700.00 1 934.45 138,477.50 74.9 04/01/98 7.125
62 SB583 161545439 BENEDETTO DIANE 64,000.00 1 409.80 63,886.75 80.0 03/01/98 6.625
62 SB583 161549407 ROLLINS ROBERT JEREMY 113,900.00 1 1,095.47 113,900.00 85.0 12/01/99 11.125
62 SB583 161560636 BROWN PAUL 112,000.00 1 1,217.10 112,000.00 80.0 12/01/99 12.750
62 SB583 161562798 TUCKER CLARICE 35,000.00 1 326.72 35,000.00 29.1 06/01/98 10.750
62 SB583 161575162 WILLIS BRUCE ALLEN 41,600.00 1 452.06 41,600.00 80.0 11/01/99 12.750
62 SB583 161581343 BODEN JAY 139,400.00 1 1,407.12 139,357.84 79.8 11/01/99 11.750
62 SB583 161582770 ABDO ALI M 22,800.00 1 245.55 22,800.00 80.0 11/01/99 12.625
62 SB583 161585328 PUTRUS SABIHA 47,900.00 1 465.24 47,883.83 74.9 11/01/99 11.250
62 SB583 161587092 MACERONI MICHAEL 148,500.00 1 1,115.63 148,500.00 78.2 06/01/98 8.250
62 SB583 161589783 TEAL THOMAS L 127,500.00 1 1,166.29 127,500.00 85.0 06/01/98 10.500
62 SB583 161590484 DANIELS SUSAN D 170,000.00 1 1,618.95 170,000.00 85.0 12/01/99 11.000
62 SB583 161591383 BRADY DONNA J 166,500.00 1 1,430.49 166,500.00 79.2 12/01/99 9.750
62 SB583 161592043 ERICKSON DALE E 200,000.00 1 1,432.82 200,000.00 80.0 12/01/99 7.750
62 SB583 161593140 MABEY JOHN E 114,700.00 1 954.02 114,700.00 84.9 06/01/98 9.375
62 SB583 161594098 SHEPARD CAROLYN F 42,500.00 1 404.74 42,500.00 77.2 12/01/99 11.000
62 SB583 161595350 SARPALIUS PAUL J 104,500.00 1 831.45 104,500.00 84.9 12/01/99 8.875
62 SB583 161597646 SMOLARCZYK JOHN 85,000.00 1 730.28 85,000.00 70.8 12/01/99 9.750
62 SB583 161600507 THOMAS WILLIE M JR 46,750.00 1 462.96 46,750.00 85.0 12/01/99 11.500
62 SBC582 800255218 CARRINGTON CAROL 185,000.00 1 1,538.74 184,717.52 68.0 02/01/98 9.375
62 SBC582 800263303 HARKINS KAREN KARTMAN 113,900.00 1 989.06 113,743.45 85.0 02/01/98 9.875
62 SBC582 800280109 SNYDER SCOTT M 20,000.00 1 211.52 19,989.49 66.6 09/01/99 12.375
62 SBC582 800313488 FARS FRANK 115,515.00 1 1,003.07 115,462.52 85.0 04/01/98 9.875
62 SBC582 800337503 LOCKMAN DWAYNE D SR 159,390.00 1 1,428.29 159,390.00 89.9 11/01/99 10.250
62 SBC582 800351124 CERRO JEFFREY N 24,000.00 1 193.11 23,986.89 80.0 11/01/99 9.000
62 SBC582 800351223 STEWART KEITH R 56,100.00 1 566.28 56,065.90 85.0 10/01/99 11.750
62 SBC582 800369050 HEADEN BENJAMIN JR 153,000.00 1 1,300.48 152,925.19 85.0 10/01/99 9.625
62 SBC582 800373219 HOWARD HOLLY 62,400.00 1 559.17 62,347.44 60.0 09/01/99 10.250
62 SBC582 800376600 WILLIAMS DENNIS L 107,100.00 1 1,091.35 107,068.49 85.0 10/01/99 11.875
62 SBC582 800377459 DUNN NEVILLE 56,000.00 1 486.27 56,000.00 80.0 11/01/99 9.875
62 SBC582 800383168 HUDGINS JERRY W 103,500.00 1 898.74 103,500.00 86.6 11/01/99 9.875
62 SBC582 800386625 STEELMAN PAUL M 115,650.00 1 1,057.90 115,604.04 90.0 10/01/99 10.500
62 SBC582 800387623 EDGELL MICHAEL T 104,985.00 1 835.31 104,985.00 69.9 11/01/99 8.875
62 SBC582 800394348 YOUNG JEANNE C 102,000.00 1 981.02 102,000.00 85.0 11/01/99 11.125
62 SBC582 800394355 BEE RICHARD D JR 41,250.00 1 388.94 41,250.00 75.0 11/01/99 10.875
62 SBC582 800395766 BAUER CAROL LYNN 139,500.00 1 1,263.04 139,500.00 90.0 11/01/99 10.375
62 SBC582 800397309 ATTANUCCI DEAN 24,800.00 1 269.50 24,800.00 80.0 11/01/99 12.750
62 SBC582 800403347 DALEY KEVIN 150,000.00 1 1,514.11 150,000.00 75.0 11/01/99 11.750
62 SBC582 800407140 RICE ROBERT 119,000.00 1 1,088.54 118,952.71 85.0 05/01/98 10.500
62 SBC582 800414526 KELLY LLOYD D 117,300.00 1 1,062.04 117,300.00 85.0 11/01/99 10.375
62 SBC582 800415499 MATTHEWS CYNTHIA W 58,825.00 1 610.75 58,825.00 65.0 11/01/99 12.125
62 SBC582 800417198 POWELL RHONDA 76,500.00 1 692.64 76,468.77 90.0 11/01/99 10.375
62 SBC582 800419053 WILLIAMS LOUISE 58,500.00 1 529.66 58,500.00 90.0 11/01/99 10.375
62 SBC582 800425340 GUERRA EMILIO 70,400.00 1 611.32 70,400.00 80.0 11/01/99 9.875
<CAPTION>
Property
Value at Owner
Pool ID Sale ID Account Origination Occupied
- ----------------------------------------------------
<S> <C> <C> <C> <C>
62 SB581 161577242 103,000.00 Y
62 SB581 161577317 128,000.00 Y
62 SB581 161578596 145,000.00 Y
62 SB581 161582788 98,500.00 Y
62 SB581 161582804 51,000.00 Y
62 SB581 161582838 180,000.00 Y
62 SB581 161585153 175,000.00 Y
62 SB581 161585864 144,000.00 Y
62 SB581 161588496 126,000.00 Y
62 SB581 161588579 90,000.00 Y
62 SB583 161502109 132,500.00 Y
62 SB583 161525563 132,000.00 Y
62 SB583 161534342 240,000.00 Y
62 SB583 161537873 185,000.00 Y
62 SB583 161545439 80,000.00 Y
62 SB583 161549407 134,000.00 Y
62 SB583 161560636 140,000.00 Y
62 SB583 161562798 120,000.00 Y
62 SB583 161575162 52,000.00 Y
62 SB583 161581343 174,500.00 Y
62 SB583 161582770 28,500.00 Y
62 SB583 161585328 63,900.00 Y
62 SB583 161587092 189,800.00 Y
62 SB583 161589783 150,000.00 Y
62 SB583 161590484 200,000.00 Y
62 SB583 161591383 210,000.00 Y
62 SB583 161592043 250,000.00 Y
62 SB583 161593140 135,000.00 Y
62 SB583 161594098 55,000.00 Y
62 SB583 161595350 123,000.00 Y
62 SB583 161597646 120,000.00 Y
62 SB583 161600507 55,000.00 Y
62 SBC582 800255218 272,000.00 Y
62 SBC582 800263303 134,000.00 Y
62 SBC582 800280109 30,000.00 Y
62 SBC582 800313488 135,900.00 Y
62 SBC582 800337503 177,170.00 Y
62 SBC582 800351124 30,000.00 Y
62 SBC582 800351223 66,000.00 Y
62 SBC582 800369050 180,000.00 Y
62 SBC582 800373219 104,000.00 N
62 SBC582 800376600 126,000.00 Y
62 SBC582 800377459 70,000.00 Y
62 SBC582 800383168 119,500.00 Y
62 SBC582 800386625 128,500.00 Y
62 SBC582 800387623 150,000.00 Y
62 SBC582 800394348 120,000.00 Y
62 SBC582 800394355 55,000.00 Y
62 SBC582 800395766 155,000.00 Y
62 SBC582 800397309 31,000.00 Y
62 SBC582 800403347 200,000.00 Y
62 SBC582 800407140 140,000.00 Y
62 SBC582 800414526 138,000.00 Y
62 SBC582 800415499 90,500.00 Y
62 SBC582 800417198 85,000.00 Y
62 SBC582 800419053 65,000.00 Y
62 SBC582 800425340 88,000.00 Y
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
Alliance Funding Sale Schedule B - Group 2, Sub-Pool III Page 5 - 12 12/17/97
A division of Superior Bank FSB 1997-4 Class 2 - Initial Pool of Adjustable Rate Mortgages - Settlement 12/22/97
Principal Type of Scheduled Cut-off Date Original Next Current
Balance at Mortgaged Payment Principal LTV Adjustment Mortgage
Pool ID Sale ID Account Name Origination Property Int & Prin Balance Ratio Date Rate
- ------------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
62 SBC582 800430688 ARMSTRONG JAMES 150,450.00 1 1,432.77 150,450.00 85.9 12/01/99 11.000
62 SBC582 800433054 CORRENTE MICHAEL R 109,000.00 1 986.89 109,000.00 87.2 12/01/99 10.375
62 SBC582 800435224 JONES JAY W 172,000.00 1 1,292.18 172,000.00 80.0 05/01/98 8.250
62 SBC582 800443566 DEMING VALERIE ANNE 199,750.00 1 1,845.89 199,672.73 85.0 11/01/99 10.625
62 SBC582 800445421 INMON HAROLD DEAN 64,000.00 1 585.44 64,000.00 80.0 05/01/98 10.500
62 SBC584 800227951 BARRY STELLA 169,600.00 1 1,364.64 169,414.03 80.0 09/01/99 9.000
62 SBC584 800257271 LIGHTNER CRAIG 150,000.00 1 1,442.67 149,895.42 75.0 09/01/99 11.125
62 SBC584 800302333 HOWARD J. CHRISTOPHE 29,325.00 1 270.99 29,313.66 85.0 10/01/99 10.625
62 SBC584 800315368 COCHENOUR JAMES C III 64,000.00 1 543.99 64,000.00 80.0 11/01/99 9.625
62 SBC584 800321689 SLATER GREGORY A 92,700.00 1 737.56 92,648.03 79.9 10/01/99 8.875
62 SBC584 800322000 RUYBAL KATHLEEN M 46,500.00 1 482.78 46,487.06 62.0 10/01/99 12.125
62 SBC584 800325920 GABBETT JOHN R 117,000.00 1 1,026.76 117,000.00 89.3 11/01/99 10.000
62 SBC584 800328478 MEEKINS RACHEL 36,400.00 1 381.43 36,400.00 65.0 11/01/99 12.250
62 SBC584 800331324 PASQUALICHIO FRANK R 86,400.00 1 774.23 86,363.77 90.0 10/01/99 10.250
62 SBC584 800333387 VIDLER RUSSELL L 60,000.00 1 515.49 60,000.00 80.0 11/01/99 9.750
62 SBC584 800334351 DOULIN DENNIS M 66,895.00 1 611.91 66,868.42 85.0 11/01/99 10.500
62 SBC584 800338410 VIGIL ROBERT ANTHONY 114,300.00 1 961.10 114,243.78 90.0 10/01/99 9.500
62 SBC584 800340218 BENNER CATHERINE L 40,000.00 1 354.73 39,982.77 44.4 11/01/99 10.125
62 SBC584 800342032 FIELDS CHARMAIN 72,000.00 1 740.60 71,958.59 80.0 09/01/99 12.000
62 SBC584 800346165 SNYDER RAYMOND A 123,900.00 1 1,110.27 123,848.04 75.0 10/01/99 10.250
62 SBC584 800348286 RICHARDS MICHAEL L 119,000.00 1 1,178.45 118,961.97 85.0 10/01/99 11.500
62 SBC584 800350688 GARTRELL ROGER D 117,300.00 1 881.24 117,225.20 85.0 10/01/99 8.250
62 SBC584 800356974 PRIOLO ROBERT 111,200.00 1 986.15 111,152.10 80.0 04/01/98 10.125
62 SBC584 800358632 GRANT WESLEY 80,500.00 1 647.72 80,456.03 70.0 04/01/98 9.000
62 SBC584 800359903 PRIMM RICHARD L 118,875.00 1 1,120.87 118,831.43 72.0 11/01/99 10.875
62 SBC584 800360083 BENAVIDEZ ANDRES H 15,000.00 1 128.87 15,000.00 55.5 05/01/98 9.750
62 SBC584 800360141 DESMARAIS DAVID M 188,800.00 1 1,587.53 188,613.54 78.6 10/01/99 9.500
62 SBC584 800362964 CAMPBELL WASHBURN W 144,000.00 1 1,303.79 143,941.21 90.0 11/01/99 10.375
62 SBC584 800369316 KOCI LAIM 162,700.00 1 1,368.07 162,619.97 79.9 04/01/98 9.500
62 SBC584 800375149 RO YOUNG 109,170.00 1 898.11 109,113.41 90.0 10/01/99 9.250
62 SBC584 800380826 REICHERSEDER KATHLEEN 85,200.00 1 884.58 85,152.36 80.0 10/01/99 12.125
62 SBC584 800380842 MAGNUSSON LAURA M 83,725.00 1 805.26 83,695.94 85.0 10/01/99 11.125
62 SBC584 800381048 STODDARD GEOFFREY G 100,800.00 1 893.92 100,800.00 80.0 12/01/99 10.125
62 SBC584 800381592 MURPHY KEVIN JOHN 145,000.00 1 1,153.69 144,573.62 58.2 10/01/99 8.875
62 SBC584 800385205 JOYNER SHARLA J 73,100.00 1 758.96 73,100.00 79.8 11/01/99 12.125
62 SBC584 800388514 AHMED MARIA 192,000.00 1 1,544.88 192,000.00 80.0 06/01/98 9.000
62 SBC584 800390601 CHAIN BRUCE K. 162,350.00 1 1,530.78 162,350.00 85.0 11/01/99 10.875
62 SBC584 800394223 BANGERTER ROBERT M. 92,400.00 1 694.17 92,400.00 80.0 05/01/98 8.250
62 SBC584 800408007 NATIVO ESTHER 38,000.00 1 390.88 38,000.00 60.3 11/01/99 12.000
62 SBC584 800408494 RUBINO JOSEPH E 150,450.00 1 1,533.09 150,450.00 85.0 11/01/99 11.875
62 SBC584 800409161 NICHOLS SALENA A 51,750.00 1 458.93 51,727.71 90.0 11/01/99 10.125
62 SBC584 800409583 DONNINI MELISSA 39,900.00 1 339.15 39,880.88 49.9 11/01/99 9.625
62 SBC584 800413411 JOHNSON DAVID L 70,000.00 1 588.60 70,000.00 59.8 12/01/99 9.500
62 SBC584 800415085 SCHIMEK JOSEPH 84,500.00 1 741.55 84,500.00 65.0 11/10/99 10.000
62 SBC584 800415119 MIERS MUREL 75,600.00 1 670.44 75,567.44 90.0 11/01/99 10.125
62 SBC584 800417271 BARNES KURT A 132,175.00 1 1,051.64 132,175.00 85.0 11/01/99 8.875
62 SBC584 800417644 CARMEL ROBERT 50,000.00 1 466.74 50,000.00 58.8 12/01/99 10.750
62 SBC584 800424681 RODRIQUEZ NICOLAS 57,750.00 1 599.59 57,750.00 75.0 12/01/99 12.125
62 SBC584 800427247 JARAMILLO GEORGE 50,000.00 1 384.46 50,000.00 55.5 11/01/99 8.500
62 SBC584 800428930 RODRIGUEZ NICOLAS S 119,700.00 1 1,128.64 119,700.00 90.0 11/01/99 10.875
62 SBC584 800430118 NGUYEN KEVIN 40,500.00 1 355.42 40,500.00 90.0 11/01/99 10.000
62 SBC584 800430308 HOOLAHAN JOHN P 120,700.00 1 1,160.87 120,658.12 85.0 11/01/99 11.125
62 SBC584 800433542 BLACKMAN PETER C 79,000.00 1 730.04 79,000.00 84.9 12/01/99 10.625
62 SBC584 800435679 PHILLIPS CHARLES G 75,225.00 1 737.78 75,225.00 85.0 12/01/99 11.375
62 SBC584 800438988 DUNNETT CHERYL 105,930.00 1 1,069.27 105,930.00 79.9 11/01/99 11.750
62 SBC584 800440364 DAVIS STEVEN E 148,000.00 1 1,204.18 148,000.00 80.0 12/01/99 9.125
62 SBC584 800442550 KEKLEN NEAL RANDALL 214,200.00 1 1,899.57 214,107.74 90.0 11/01/99 10.125
<CAPTION>
Property
Value at Owner
Pool ID Sale ID Account Origination Occupied
- ----------------------------------------------------
<S> <C> <C> <C> <C>
62 SBC582 800430688 175,000.00 Y
62 SBC582 800433054 125,000.00 Y
62 SBC582 800435224 215,000.00 Y
62 SBC582 800443566 235,000.00 Y
62 SBC582 800445421 80,000.00 Y
62 SBC584 800227951 212,000.00 Y
62 SBC584 800257271 200,000.00 Y
62 SBC584 800302333 34,500.00 Y
62 SBC584 800315368 80,000.00 Y
62 SBC584 800321689 115,900.00 Y
62 SBC584 800322000 75,000.00 Y
62 SBC584 800325920 131,000.00 Y
62 SBC584 800328478 56,000.00 Y
62 SBC584 800331324 96,000.00 Y
62 SBC584 800333387 75,000.00 Y
62 SBC584 800334351 78,700.00 Y
62 SBC584 800338410 127,000.00 Y
62 SBC584 800340218 90,000.00 Y
62 SBC584 800342032 90,000.00 Y
62 SBC584 800346165 165,200.00 Y
62 SBC584 800348286 140,000.00 Y
62 SBC584 800350688 138,000.00 Y
62 SBC584 800356974 139,000.00 Y
62 SBC584 800358632 115,000.00 Y
62 SBC584 800359903 165,000.00 Y
62 SBC584 800360083 27,000.00 Y
62 SBC584 800360141 240,000.00 Y
62 SBC584 800362964 160,000.00 Y
62 SBC584 800369316 203,434.00 Y
62 SBC584 800375149 121,300.00 Y
62 SBC584 800380826 106,500.00 Y
62 SBC584 800380842 98,500.00 Y
62 SBC584 800381048 126,000.00 Y
62 SBC584 800381592 249,000.00 Y
62 SBC584 800385205 91,500.00 Y
62 SBC584 800388514 240,000.00 Y
62 SBC584 800390601 191,000.00 Y
62 SBC584 800394223 115,500.00 Y
62 SBC584 800408007 63,000.00 Y
62 SBC584 800408494 177,000.00 Y
62 SBC584 800409161 57,500.00 Y
62 SBC584 800409583 79,900.00 Y
62 SBC584 800413411 117,000.00 Y
62 SBC584 800415085 130,000.00 Y
62 SBC584 800415119 84,000.00 Y
62 SBC584 800417271 155,500.00 Y
62 SBC584 800417644 85,000.00 Y
62 SBC584 800424681 77,000.00 Y
62 SBC584 800427247 90,000.00 N
62 SBC584 800428930 133,000.00 Y
62 SBC584 800430118 45,000.00 Y
62 SBC584 800430308 142,000.00 Y
62 SBC584 800433542 93,000.00 Y
62 SBC584 800435679 88,500.00 Y
62 SBC584 800438988 132,415.00 Y
62 SBC584 800440364 185,000.00 Y
62 SBC584 800442550 238,000.00 Y
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
Alliance Funding Sale Schedule B - Group 2, Sub-Pool III Page 6 - 12 12/17/97
A division of Superior Bank FSB 1997-4 Class 2 - Initial Pool of Adjustable Rate Mortgages - Settlement 12/22/97
Principal Type of Scheduled Cut-off Date Original Next
Balance at Mortgaged Payment Principal LTV Adjustment
Pool ID Sale ID Account Name Origination Property Int & Prin Balance Ratio Date
- -------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
62 SBC584 800452880 KANE ROBERT C 184,500.00 1 1,791.98 183,958.32 85.4 08/01/99
62 SBC584 800452898 CRAIG JOE F 117,000.00 1 1,103.18 117,000.00 65.0 12/01/99
62 SBC584 800453151 STOCK KEVIN R 105,000.00 1 970.31 105,000.00 75.0 11/01/99
62 SBC584 800455123 AGUILAR DORIS 128,000.00 1 1,041.45 128,000.00 80.0 12/01/99
62 SBC584 800457186 BRUNNER RUSSELL STEVEN 73,950.00 1 562.07 73,950.00 85.0 12/01/99
62 SBC584 800457806 HALL IVY 153,000.00 1 1,515.15 152,901.73 85.0 10/01/99
62 SBC585 800322091 RANKIN ANDRE P 182,000.00 1 1,563.66 181,915.09 78.4 10/01/99
62 SBC585 800347718 FOSTER KATHRYN 126,000.00 1 1,059.48 125,938.02 90.0 05/01/98
62 SBC585 800351801 GRAHAM CHERYL 45,050.00 1 450.43 45,050.00 85.0 11/01/99
62 SBC585 800360216 LEE VERNON L 209,700.00 1 1,879.13 209,612.06 89.9 04/01/98
62 SBC585 800373318 SCOTT DANIELA TZOTCHE 81,600.00 1 761.73 81,569.27 85.0 04/01/98
62 SBC585 800389884 SWEINHART DENNIS A 50,300.00 1 400.21 50,300.00 85.9 11/01/99
62 SBC585 800391690 MASE RUSSELL 92,000.00 1 773.59 91,954.74 81.7 04/01/98
62 SBC585 800403081 O'LEARY WILLIAM P 72,250.00 1 640.73 72,250.00 74.9 11/01/99
62 SBC585 800424152 SLATON GERALDINE 42,400.00 1 391.82 42,400.00 80.0 11/17/99
62 SBC585 800437048 VERRASTRO JOSEPH E 67,500.00 1 611.15 67,500.00 90.0 12/01/99
62 SBC585 800441032 CAMPANELLI DAVID 131,000.00 1 1,161.74 131,000.00 87.3 12/01/99
62 SBC585 800447377 NORMAN ROBERT L 33,000.00 1 304.95 33,000.00 75.0 12/01/99
62 SBC585 800449019 CORNETT ED 83,300.00 1 793.28 83,300.00 85.0 11/01/99
62 SBC585 800462277 WALLACE MICHAEL G 95,200.00 1 897.64 95,200.00 80.0 12/01/99
62 SBC591 800347411 TOBIAS JOEL P 72,000.00 1 611.99 71,965.50 61.0 10/01/99
62 SBC591 800360455 VALENTIN YVETTE 101,600.00 1 1,025.56 101,600.00 80.0 12/01/99
62 SBC591 800387847 EHRHORN WILLIAM R 34,825.00 1 267.77 34,825.00 80.9 11/01/99
62 SBC591 800389959 DEMARCO HARRY J 36,000.00 1 373.77 36,000.00 80.0 12/01/99
62 SBC591 800396764 LEBO TIMOTHY D 92,800.00 1 814.39 92,800.00 80.0 11/01/99
62 SBC591 800398752 BOWSER DAVID E 111,185.00 1 884.64 111,185.00 85.9 11/01/99
62 SBC591 800401804 BAKER ANTHONY 75,600.00 1 663.44 75,600.00 90.0 05/01/98
62 SBC591 800405896 AGULIS LORRAINE E 161,500.00 1 1,645.69 161,500.00 85.0 12/01/99
62 SBC591 800409674 COCCODRILLI ROBERT M 124,600.00 1 1,163.12 124,600.00 89.9 12/01/99
62 SBC591 800415325 MAHALLI YAHYA 161,995.00 1 1,512.19 161,995.00 89.9 12/01/99
62 SBC591 800418725 MURPHY THOMAS C 100,300.00 1 993.26 100,300.00 85.0 12/01/99
62 SBC591 800426173 CHISLEY VERNON P 135,000.00 1 1,184.72 135,000.00 90.0 05/01/98
62 SBC591 800434706 LANCASTER KAREL 135,000.00 1 1,298.40 135,000.00 90.0 11/01/99
62 SBC591 800435927 SULLIVAN JOSEPH A 40,000.00 1 403.76 40,000.00 43.9 12/01/99
62 SBC591 800446817 LINDSEY SHARONDA 98,515.00 1 1,003.87 98,515.00 85.0 12/01/99
62 SBC591 800447286 GEE CARL 58,500.00 1 546.09 58,500.00 90.0 11/01/99
62 SBC591 800450280 WEBSTER CATO DONNA 135,900.00 1 1,142.72 135,900.00 90.0 05/01/98
62 SBC591 800460396 ALLEN ANNA LOUISE 182,750.00 1 1,570.10 182,750.00 85.0 12/01/99
62 SBC591 800461337 BEDINGFIELD KATHERINE 144,400.00 1 1,471.44 144,400.00 84.9 12/01/99
62 SBC591 800465544 SODERSTROM STEVEN 57,600.00 1 521.51 57,600.00 90.0 12/01/99
62 SBC591 800475543 BRACKEN CANDACE D 57,800.00 1 507.24 57,800.00 85.0 06/01/98
62 SBC591 800478109 SCOTT RYAN K 92,000.00 1 683.10 92,000.00 77.9 12/01/99
62 SBC591 800483737 LEE STEPHEN B 114,300.00 1 950.69 114,300.00 90.0 12/01/99
62 SBC591 800485765 MENA JUAN 170,000.00 1 1,539.19 169,930.23 85.0 04/01/98
62 SUPER ARM 800279390 O'DONNELL WILLIAM L 76,500.00 1 671.34 76,407.50 85.0 10/01/99
62 SUPER ARM 800289506 TOMARO PETER 110,400.00 1 1,135.59 110,368.41 80.0 10/01/99
62 SUPER ARM 800296725 PEPLOWSKI CHARLES W JR 80,300.00 1 689.90 80,262.54 66.9 10/01/99
62 SUPER ARM 800310021 MYRTETUS STEPHEN B 50,900.00 1 508.92 50,900.00 84.8 11/01/99
62 SUPER ARM 800352718 KAIN SIDNEY ALLEN 65,000.00 1 588.51 65,000.00 65.0 12/01/99
62 SUPER ARM 800372062 MANALASTAS ALBERTO A 153,000.00 1 1,442.62 153,000.00 90.0 11/01/99
62 SUPER ARM 800373821 SMITH BLOSSOM 177,600.00 1 1,641.20 177,600.00 80.0 11/01/99
62 SUPER ARM 800374738 HALBERT KELLY M 64,000.00 1 591.42 63,975.25 80.0 10/01/99
62 SUPER ARM 800380396 BITETTO LEONARD N. 195,500.00 1 1,954.69 195,439.22 85.0 10/01/99
62 SUPER ARM 800390817 MANNING EVALET 55,250.00 1 526.16 55,250.00 85.0 12/01/99
62 SUPER ARM 800393233 ROHRBACHER LOLITA E. 120,000.00 1 1,269.08 120,000.00 80.0 12/01/99
62 SUPER ARM 800399230 COLIN ORELA 66,400.00 1 576.58 66,400.00 80.0 12/01/99
62 SUPER ARM 800407645 SANCHEZ ALFREDO JR 103,700.00 1 929.26 103,700.00 85.0 11/01/99
<CAPTION>
Current Property
Mortgage Value at Owner
Pool ID Sale ID Account Rate Origination Occupied
- -----------------------------------------------------------------
<S> <C> <C> <C> <C> <C>
62 SBC584 800452880 11.250 216,000.00 Y
62 SBC584 800452898 10.875 180,000.00 Y
62 SBC584 800453151 10.625 140,000.00 Y
62 SBC584 800455123 9.125 160,000.00 N
62 SBC584 800457186 8.375 87,000.00 Y
62 SBC584 800457806 11.500 180,000.00 Y
62 SBC585 800322091 9.750 232,120.00 Y
62 SBC585 800347718 9.500 140,000.00 Y
62 SBC585 800351801 11.625 53,000.00 Y
62 SBC585 800360216 10.250 233,015.00 Y
62 SBC585 800373318 10.750 96,000.00 Y
62 SBC585 800389884 8.875 58,500.00 Y
62 SBC585 800391690 9.500 112,500.00 Y
62 SBC585 800403081 10.125 96,350.00 Y
62 SBC585 800424152 10.625 53,000.00 Y
62 SBC585 800437048 10.375 75,000.00 Y
62 SBC585 800441032 10.125 150,000.00 Y
62 SBC585 800447377 10.625 44,000.00 N
62 SBC585 800449019 11.000 98,000.00 Y
62 SBC585 800462277 10.875 119,000.00 Y
62 SBC591 800347411 9.625 118,000.00 Y
62 SBC591 800360455 11.750 127,000.00 Y
62 SBC591 800387847 8.500 43,000.00 Y
62 SBC591 800389959 12.125 45,000.00 Y
62 SBC591 800396764 10.000 116,000.00 Y
62 SBC591 800398752 8.875 129,300.00 Y
62 SBC591 800401804 10.000 84,000.00 Y
62 SBC591 800405896 11.875 190,000.00 Y
62 SBC591 800409674 10.750 138,500.00 Y
62 SBC591 800415325 10.750 180,000.00 Y
62 SBC591 800418725 11.500 118,000.00 Y
62 SBC591 800426173 10.000 150,000.00 Y
62 SBC591 800434706 11.125 150,000.00 Y
62 SBC591 800435927 11.750 91,000.00 Y
62 SBC591 800446817 11.875 115,900.00 Y
62 SBC591 800447286 10.750 65,000.00 Y
62 SBC591 800450280 9.500 151,000.00 Y
62 SBC591 800460396 9.750 215,000.00 Y
62 SBC591 800461337 11.875 170,000.00 Y
62 SBC591 800465544 10.375 64,000.00 Y
62 SBC591 800475543 10.000 68,000.00 Y
62 SBC591 800478109 8.125 118,000.00 Y
62 SBC591 800483737 9.375 127,000.00 Y
62 SBC591 800485765 10.375 200,000.00 Y
62 SUPER ARM 800279390 10.000 90,000.00 Y
62 SUPER ARM 800289506 12.000 138,000.00 Y
62 SUPER ARM 800296725 9.750 120,000.00 Y
62 SUPER ARM 800310021 11.625 59,999.00 Y
62 SUPER ARM 800352718 10.375 100,000.00 N
62 SUPER ARM 800372062 10.875 170,000.00 Y
62 SUPER ARM 800373821 10.625 222,000.00 Y
62 SUPER ARM 800374738 10.625 80,000.00 Y
62 SUPER ARM 800380396 11.625 230,000.00 Y
62 SUPER ARM 800390817 11.000 65,000.00 Y
62 SUPER ARM 800393233 12.375 150,000.00 Y
62 SUPER ARM 800399230 9.875 83,000.00 Y
62 SUPER ARM 800407645 10.250 122,000.00 Y
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
Alliance Funding Sale Schedule B - Group 2, Sub-Pool III Page 7 - 12 12/17/97
A division of Superior Bank FSB 1997-4 Class 2 - Initial Pool of Adjustable Rate Mortgages - Settlement 12/22/97
Principal Type of Scheduled Cut-off Date Original Next
Balance at Mortgaged Payment Principal LTV Adjustment
Pool ID Sale ID Account Name Origination Property Int & Prin Balance Ratio Date
- ------------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
62 SUPER ARM 800413940 GUSTAVSEN LISA 124,850.00 1 959.99 124,774.36 73.4 11/01/99
62 SUPER ARM 800425761 ROYE LINDA 95,000.00 1 886.81 95,000.00 58.6 12/01/99
62 SUPER ARM 800440653 PATTON SCOTT C 106,250.00 1 1,103.13 106,250.00 85.0 12/01/99
62 SUPER ARM 800441453 KEIM THERESA 69,700.00 1 657.19 69,700.00 85.0 11/01/99
---------------------------------------------- ------------------------------------
244 Sale Total 24,666,405.00 218,784.55 24,580,911.55 80.9
344 Grand Total Sub-Pool III 34,586,852.00 310,387.83 34,497,963.28 153.8
<CAPTION>
Current Property
Mortgage Value at Owner
Pool ID Sale ID Account Rate Origination Occupied
- --------------------------------------------------------------
<S> <C> <C> <C> <C> <C>
62 SUPER ARM 800413940 8.500 170,000.00 Y
62 SUPER ARM 800425761 10.750 162,000.00 Y
62 SUPER ARM 800440653 12.125 125,000.00 Y
62 SUPER ARM 800441453 10.875 82,000.00 Y
------ -----------------------
244 10.107 31,113,103.00
344 19.536 43,653,903.00
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
Alliance Funding Sale Schedule A - Group 2, Sub-Pool III Page 1 - 12 12/17/97
A division of Superior Bank FSB 1997-4 Class 2 - Initial Pool of Adjustable Rate Mortgages - Settlement 12/22/97
Zip
Pool ID Sale ID Account Name Address City State Code
- ------------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C>
61 MLC170 800241994 PHILLIPS EDWARD J 3836 BRUNSWICK AVENUE DREXEL HILL PA 19026
61 MLC170 800271215 TARNEF MICHAEL A 633 21ST STREET AVALON NJ 08202
61 MLC170 800288102 LANDIS ROBERT E 915 VALLEY ROAD LANCASTER PA 17601
61 MLC170 800291502 RODRIGUEZ ANGELICA 280 KIRKMAN AVENUE ELMONT NY 11003
61 MLC170 800298705 CLARK CHARLIA M 1208 CENTENARY DRIVE LONGVIEW TX 75601
61 MLC170 800304826 HOLLY BRIAN 99 MOHEGAN RD MANASQUAN NJ 08736
61 MLC170 800313447 HOLZER ERIC 405 QUANTUCK LANE WESTFIELD NJ 07090
61 MLC170 800317497 KING JACOB E III 1206 GEERS AVENUE COLUMBUS OH 43206
61 MLC170 800326746 BROWN PAMELA A 223 QUAKER MEETING HSE RD EAST SANDWICH MA 02537
61 MLC170 800330284 DOHRMANN MARK E 11014 NORTH VALLEY DRIVE FOUNTAIN HILLS AZ 85268
61 MLC170 800339715 LOCKEN ROBERT FRANCIS 17785 EAST MEXICO DRIVE AURORA CO 80017
61 MLC170 800340382 LARRABEE STEVEN R 23 WITWER ROAD CHRISTIANA PA 17509
61 MLC170 800348716 DAKIN PETER E 2346 BOAS STREET HARRISBURG PA 17104
61 MLC170 800353229 EBERHARDT EDWARD J 326 E 9TH STREET NORTHAMPTON PA 18067
61 MLC170 800353633 BLACKBURN RAYMOND RD #2 BOX 2256 SHICKSHINNY PA 18655
61 MLC170 800356164 PETERS ROBERT K 524 LAFAYETTE STREET KENNETT SQUARE PA 19348
61 MLC170 800357568 SANTANA JAMES 2456 ELIAS AVENUE LEBANON PA 17046
61 MLC170 800357808 OTTO WALTER G III 14 GREEN ROAD WEST NYACK NY 10994
61 MLC170 800358616 HEMPENSTALL LINDA A 1454 EUDORA STREET DENVER CO 80220
61 MLC170 800358954 DUNN JAMES C RR 2 BOX 2931 BERWICK PA 18603
61 MLC170 800359069 O BYRNE PAULA J 6 REED STREET WILMINGTON MA 01887
61 MLC170 800360208 WINTERS JUNE 1180 EAST 37TH STREET BROOKLYN NY 11210
61 MLC170 800360273 BLANK WILLIAM 4740 ENDERS ROAD MANLIUS NY 13104
61 MLC170 800368201 KITLAS RON 33 RALPH STREET WILKES BARRE PA 18702
61 MLC170 800369779 ASMAR HANI M 428 SQUIRREL ROAD DINGMANS FERRY PA 18328
61 MLC170 800370934 PONIATOWSKI THOMAS J 7102 HIGHLAND STREET SPRINGFIELD VA 22150
61 MLC170 800372609 MILLER QUENTIN L 229 MAIN STREET LANDISVILLE PA 17538
61 MLC170 800373169 ROSA CARMEN C LOT 4 LAUREL DRIVE EFFORT PA 18330
61 MLC170 800375750 WELCH EDWARD C 1923 WEST 975 NORTH ST GEORGE UT 84770
61 MLC170 800379554 GIAIMO ANGELO BOX 147 BENJAMIN ROAD STAMFORD NY 12076
61 MLC170 800386476 LANZARONE ANNE 146 BONE HOLLOW ROAD MARBLETOWN NY 12404
61 MLC170 800387821 DURLIN DENNIS A RD #1 BOX 77 RTE 6 PITTSFIELD PA 16340
61 MLC170 800389165 AROCHO FERNANDO 594 BRACE AVENUE PERTH AMBOY NJ 08861
61 MLC170 800392987 BULLS DONALD 1415 N FRANKLIN STREET PITTSBURGH PA 15233
61 MLC170 800401192 GRUMEZA ION 47 CRESCENT ROAD FAIRFIELD CT 06430
61 MLC170 800402430 MOTEN WILLIE E 3050 JASMINE STREET DENVER CO 80207
61 MLC170 800404469 DUNN ACCENT 194-21 MURDOCK AVENUE SAINT ALBANS NY 11412
61 MLC170 800408460 BOVA CHARLES F JR 7 CLARK ROAD NEW FAIRFIELD CT 06812
61 MLC170 800409906 HUGGLER MICHAEL D 3885 17TH AVENUE SOUTHWEST NAPLES FL 34117
61 MLC170 800412918 LITTLE DAVID E 10444 NORTH DOWNING STREET NORTHGLENN CO 80233
61 MLC170 800424541 WESARG WALTER 9 CORVAIR LANE SELDEN NY 11784
61 MLC170 800425118 ROSS BETSY 12365 SHAFTON ROAD SPRING HILL FL 34608
61 MLC170 800427288 MARTIN BARRY G 554 SOUTH LAKEVIEW WAY FARMINGTON UT 84025
61 MLC170 800427296 CHASE LEE E 935 EAST 1275 NORTH OGDEN UT 84404
61 MLC170 800428385 THEIS MARK A 7 GREEN CHAPEL LANE CRESCO PA 18326
61 MLC172 800207649 EDOUARD JULIO MD 8 CRESCENT DR PLATTSBURGH NY 12901
61 MLC172 800216467 KATCHMER GERALD N 81 BACK STREET LATTIMER MINES PA 18234
61 MLC172 800243453 ARSENYEVICTZ ALICE 10 TAPPAN ROAD MONTICELLO NY 12701
61 MLC172 800261570 ORLANDO RICHARD T 239 KUNKLE ROAD HARVEY'S LAKE PA 18618
61 MLC172 800268682 REDD CRAIG 145 HOWLAND AVENUE TEANECK NJ 07666
61 MLC172 800279127 ALLEN JOHN C. PIERREPONT ROAD LAKE LUZERNE NY 12846
61 MLC172 800279150 DALEY PATRICIA A 524 DECATUR AVENUE MIDDLESEX NJ 08846
61 MLC172 800281354 ECHON DAVID 1812 ROOSEVELT STREET DUNMORE PA 18512
61 MLC172 800290041 MUHAMMAD AL HASAN MAIK 184 UNION AVENUE IRVINGTON NJ 07111
61 MLC172 800293235 JOHNSON ERIC W 6108 WEST FORDHAM PLACE CINCINNATI OH 45213
61 MLC172 800301327 KLEPTACH TERRY 342 DENNISON AVE AKRON OH 44312
61 MLC172 800301608 BOVILLE LAWRENCE A JR 4656 GARRETT DR NORTON OH 44203
<CAPTION>
Principal Cut-off Date First Initial Minimum Maximum
Balance at Principal Payment Maturity Mortgage Mortgage Mortgage Gross
Pool ID Sale ID Account Origination Balance Date Date Rate Rate Rate Margin
- ----------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
61 MLC170 800241994 55,250.00 55,148.36 08/01/97 07/01/27 9.875 9.875 15.875 7.500
61 MLC170 800271215 100,000.00 99,858.91 09/01/97 08/01/27 9.750 8.750 15.750 5.000
61 MLC170 800288102 95,448.00 95,448.00 12/01/97 11/01/27 9.375 8.375 15.375 4.850
61 MLC170 800291502 144,500.00 144,447.05 11/01/97 10/01/27 10.875 10.875 16.875 7.550
61 MLC170 800298705 52,275.00 52,275.00 12/01/97 11/01/27 10.750 9.750 16.750 6.750
61 MLC170 800304826 189,000.00 189,000.00 12/01/97 11/01/27 9.750 8.750 15.750 5.750
61 MLC170 800313447 210,000.00 209,882.27 11/01/97 10/01/27 8.875 8.875 14.875 4.450
61 MLC170 800317497 51,139.00 51,000.04 10/01/97 09/01/27 11.250 10.250 17.250 6.450
61 MLC170 800326746 65,000.00 64,975.53 12/01/97 11/01/27 10.750 9.750 16.750 5.250
61 MLC170 800330284 182,430.00 182,330.35 11/01/97 10/01/27 9.000 9.000 15.000 5.550
61 MLC170 800339715 101,700.00 101,700.00 12/01/97 11/01/27 9.750 8.750 15.750 5.500
61 MLC170 800340382 103,500.00 103,463.10 11/01/97 10/01/27 11.000 10.000 17.000 6.800
61 MLC170 800348716 65,700.00 65,700.00 12/01/97 11/01/27 9.875 8.875 15.875 6.250
61 MLC170 800353229 50,000.00 49,974.76 12/01/97 11/01/27 9.375 8.375 15.375 4.800
61 MLC170 800353633 72,250.00 72,226.26 11/01/97 10/01/27 11.375 10.375 17.375 6.950
61 MLC170 800356164 112,500.00 112,459.89 11/01/97 10/01/27 11.000 10.000 17.000 6.800
61 MLC170 800357568 89,090.00 89,063.79 12/01/97 11/01/27 11.875 10.875 17.875 6.800
61 MLC170 800357808 193,050.00 192,981.17 12/01/97 11/01/27 11.000 10.000 17.000 6.450
61 MLC170 800358616 130,475.00 130,417.28 11/01/97 10/01/27 10.000 10.000 16.000 6.500
61 MLC170 800358954 80,500.00 80,500.00 12/01/97 11/01/27 10.250 9.250 16.250 5.750
61 MLC170 800359069 192,400.00 192,331.39 11/01/97 10/01/27 11.000 10.000 17.000 6.750
61 MLC170 800360208 134,400.00 134,353.37 11/01/97 10/01/27 11.125 11.125 17.125 7.600
61 MLC170 800360273 172,000.00 172,000.00 12/01/97 11/01/27 11.500 11.500 17.500 7.950
61 MLC170 800368201 45,500.00 45,479.33 12/01/97 11/01/27 9.875 8.875 15.875 5.250
61 MLC170 800369779 103,275.00 103,238.18 12/01/97 11/01/27 11.000 10.000 17.000 6.250
61 MLC170 800370934 139,000.00 138,947.67 12/01/97 11/01/27 10.750 9.750 16.750 6.250
61 MLC170 800372609 85,125.00 85,125.00 12/01/97 11/01/27 8.750 8.750 14.750 5.500
61 MLC170 800373169 144,500.00 144,432.58 11/01/97 10/01/27 9.750 9.750 15.750 6.250
61 MLC170 800375750 78,500.00 78,386.02 10/01/97 09/01/27 7.625 7.625 13.625 3.750
61 MLC170 800379554 36,000.00 36,000.00 12/01/97 11/01/27 10.375 9.375 16.375 6.300
61 MLC170 800386476 136,800.00 136,508.51 06/01/97 05/01/27 11.125 10.125 17.125 6.000
61 MLC170 800387821 85,000.00 85,000.00 12/01/97 11/01/27 9.500 8.500 15.500 5.050
61 MLC170 800389165 81,000.00 80,962.21 11/01/97 10/01/27 9.750 9.750 15.750 6.250
61 MLC170 800392987 71,400.00 71,400.00 12/01/97 11/01/27 11.000 10.000 17.000 6.250
61 MLC170 800401192 193,500.00 193,500.00 12/01/97 11/01/27 9.750 9.750 15.750 7.750
61 MLC170 800402430 87,200.00 87,200.00 12/01/97 11/01/27 11.500 10.500 17.500 7.250
61 MLC170 800404469 92,300.00 92,274.31 12/01/97 11/01/27 12.125 11.125 18.125 6.750
61 MLC170 800408460 149,400.00 149,400.00 12/01/97 11/01/27 9.875 8.875 15.875 5.850
61 MLC170 800409906 151,200.00 151,200.00 12/01/97 11/01/27 8.750 7.750 14.750 5.500
61 MLC170 800412918 103,950.00 103,950.00 12/01/97 11/01/27 9.875 8.875 15.875 6.000
61 MLC170 800424541 119,000.00 119,000.00 12/01/97 11/01/27 12.000 11.000 18.000 7.800
61 MLC170 800425118 57,600.00 57,600.00 12/01/97 11/01/27 10.875 9.875 16.875 6.500
61 MLC170 800427288 162,750.00 162,750.00 12/01/97 11/01/27 8.625 7.625 14.625 5.500
61 MLC170 800427296 113,400.00 113,400.00 12/01/97 11/01/27 10.125 9.125 16.125 6.250
61 MLC170 800428385 144,000.00 144,000.00 12/01/97 11/01/27 10.875 9.875 16.875 6.500
61 MLC172 800207649 74,250.00 74,111.46 08/01/97 07/01/27 10.875 9.875 16.875 6.500
61 MLC172 800216467 33,600.00 33,528.50 08/01/97 07/01/27 11.625 10.625 17.625 7.000
61 MLC172 800243453 59,500.00 59,464.81 10/01/97 09/01/27 11.875 10.875 17.875 7.000
61 MLC172 800261570 112,000.00 111,934.23 10/01/97 09/01/27 11.875 10.875 17.875 7.050
61 MLC172 800268682 88,200.00 88,200.00 12/01/97 11/01/27 10.250 9.250 16.250 5.750
61 MLC172 800279127 71,400.00 71,375.23 12/01/97 11/01/27 11.125 10.125 17.125 6.750
61 MLC172 800279150 95,000.00 94,978.28 11/01/97 10/01/27 13.000 12.000 19.000 7.800
61 MLC172 800281354 66,000.00 65,947.31 11/01/97 10/01/27 10.500 9.500 16.500 6.300
61 MLC172 800290041 55,000.00 54,946.75 10/01/97 09/01/27 11.500 10.500 17.500 7.125
61 MLC172 800293235 65,700.00 65,655.43 10/01/97 09/01/27 11.250 10.250 17.250 6.450
61 MLC172 800301327 29,750.00 29,731.91 10/01/97 09/01/27 11.750 10.750 17.750 7.200
61 MLC172 800301608 128,350.00 128,271.98 10/01/97 09/01/27 11.750 10.750 17.750 7.200
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
Alliance Funding Sale Schedule A - Group 2, Sub-Pool III Page 2 - 12 12/17/97
A division of Superior Bank FSB 1997-4 Class 2 - Initial Pool of Adjustable Rate Mortgages - Settlement 12/22/97
Zip
Pool ID Sale ID Account Name Address City State Code
- ------------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C>
61 MLC172 800307738 ZIPPITTELLI, LOUIS A SR 498 SOUTH KEYSER AVENUE TAYLOR PA 18517
61 MLC172 800319402 MEJIA FRANCISCO 22 EAST 6TH STREET HUNTINGTON STATION NY 11746
61 MLC172 800328775 MAYER ELZBIETA B 77 RED HILL RD NEW CITY NY 10956
61 MLC172 800329104 CAMPBELL MAXINE L 107 WOLF STREET HIGHSPIRE PA 17034
61 MLC172 800329237 CARRERO JOSEPH 6 MONTROSE TERRACE ALLENDALE NJ 07401
61 MLC172 800337859 WRECSICS ANNA M 1351 WRESICS ROAD RICHLANDTOWN PA 18955
61 MLC172 800339194 AGONITO CHRISTOPHE P 305 S MORGAN STREET ANDREWS SC 29510
61 MLC172 800341380 CARR MARGARET 32-9 FARM ROAD HILLSBOROUGH TOWNSHIP NJ 08853
61 MLC172 800342958 MCDOWELL ELLEN C 104 EAST CHURCH STREET BLACKWOOD NJ 08012
61 MLC172 800343311 MILLER CHARLES M 7832 MAIN STREET UPPER MACUNGIE TWNP PA 18051
61 MLC172 800348013 HERNDON LILALVA 23-50 98TH STREET EAST ELMHURST NY 11369
61 MLC172 800355414 AUSTIN JACQUELINE E 1824 BRIGGS STREET HARRISBURG PA 17103
61 MLC172 800357048 MARTIN GARY J 42 LAUREL RIDGE WATERTOWN CT 06779
61 MLC172 800359481 MEBS CHARLES A JR 69 N CENTRAL AVENUE WINSLOW NJ 08081
61 MLC172 800359895 SINGH RAJENDRA M 964 BEAR TAVERN ROAD EWING NJ 08628
61 MLC172 800364879 NIEMKIEWICZ SEBASTIAN 14 ROCK SPRINGS ROAD BRECKENRIDGE CO 80424
61 MLC172 800367484 WINTERS ROBERT J 1508 OBLOCK ROAD PITTSBURGH PA 15239
61 MLC172 800367765 DEJESUS EDWIN JR 112 EAST BROWN STREET EAST STROUDSBURG PA 18301
61 MLC172 800370157 PICKLES THOMAS G 35 PINE ROAD HOWELL NJ 07731
61 MLC172 800370611 RAGSDALE ANDREA 4027 ESTER DRIVE ATLANTA GA 30331
61 MLC172 800371817 DUROSEAU ELIA 1725 ATHERTON AVENUE ELMONT NY 11003
61 MLC172 800372096 MCGINTY JAMES R JR 628 NORTH MAIN STREET ARCHIBALD PA 18403
61 MLC172 800375701 PRIBBLE ALAN DALE 44805 N NEW RIVER ROAD PHOENIX AZ 85027
61 MLC172 800376865 REIDENAUER CATHIE B RD 4 BOX 164A KUTZTOWN PA 19530
61 MLC172 800377624 BOLYARD LEONARD R 350 DORCHESTER STREET PORT CHARLOTTE FL 33954
61 MLC172 800379786 SUBER SHERRY 2230 WEBSTER AVENUE PITTSBURGH PA 15219
61 MLC172 800387185 RODRIGUEZ ALFRANIO 17 BIRCH RD YONKERS NY 10705
61 MLC172 800387490 HARRIS KENT R. 2849 EAST 2960 SOUTH SALT LAKE CITY UT 84109
61 MLC172 800388316 MARCOUX HENRY E JR 7 BETH COURT EAST BRUNSWICK NJ 08816
61 MLC172 800391062 DEIBERT BRADLEY J 16588 EAST 8TH AVENUE AURORA CO 80011
61 MLC172 800391153 VINCENT MICHAEL 59 BENEDICT STREET NORWALK CT 06850
61 MLC172 800395402 BOOTHE EDWARD J. 4345 WEST 1500 NORTH PLAIN CITY UT 84404
61 MLC172 800396475 HARTSUFF JAMES H 296 COUNTY ROAD MILLSBORO DE 19966
61 MLC172 800400558 OSTINI EDWARD A 15010 STARR ROAD SE OLALLA WA 98359
61 MLC172 800403198 VAN WHY PETER H 323 WEST BENNETT STREET LUZERNE PA 18704
61 MLC172 800404832 WALTH HILTON R 315 NORTH 19TH STREET COLORADO SPRINGS CO 80904
61 MLC172 800405540 MANSARAY ALEX 127 THROOP AVENUE NEW BRUNSWICK NJ 08901
61 MLC172 800405961 TADRY DIANA 48 SELVAGE AVENUE TEANECK NJ 07666
61 MLC172 800407652 MCCULLER MARVIN 518 CHESTERFIELD ROAD HAMPTON VA 23661
61 MLC172 800407876 BRACKETT TIMOTHY LYNN 806 SAINT ANDREW STREET TARBORO NC 27886
61 MLC172 800411779 ANDERSON HARRY B JR 10 FULTON STREET MARIANNA PA 15345
61 MLC172 800413486 TSIOPELAS GEORGE 237 MISSION ROAD LONG VALLEY NJ 07853
61 MLC172 800424723 ALLISON CLAY W 3963 RAWHIDE DRIVE WEST VALLEY CITY UT 84120
-----------------------------------------
100 Sale Total
62 CPI1 52415 JANICKE GERALD 19W178 GINNY LANE EAST OAKBROOK IL 60521
62 CPI1 54874 ENGLISH ROBERT A 16402 GALENA RD PLANO IL 60545
62 CPI1 57943 DENNIS JACK D 1201 W PLAINFIELD RD LAGRANGE IL 60525
62 CPI1 58966 KLASS TIMOTHY H 6008 WOODWARD AVE DOWNERS GRO IL 60515
62 CPI1 59105 ZIELINSKI STEVEN G 10924 S LLOYD DRIVE WORTH IL 60482
62 CPI1 60954 URBEN BRUCE 4206 ELM AVENUE BROOKFIELD IL 60513
62 CPI1 506394 REILLY DONALD J 150 TAY RIVER DRIVE CARPENTERSV IL 60110
62 CPI1 506998 CARVER ANDREW B 2333 HARTFORD COURT NAPERVILLE IL 60565
62 CPI1 507103 SAYRE MARY M 1058 WARRINGTON ROAD DEERFIELD IL 60015
62 CPI1 507319 HOPPE KATHLEEN S 908 OEFFLING DRIVE MCHENRY IL 60050
62 CPI1 507632 OVERLIN THOMAS P 134 IROQUIS TRAIL WOOD DALE IL 60191
62 CPI1 507798 ZELLEZ RUTH 4206 W THORNDALE AVENUE CHICAGO IL 60646
<CAPTION>
Principal Cut-off Date First Initial Minimum Maximum
Balance at Principal Payment Maturity Mortgage Mortgage Mortgage Gross
Pool ID Sale ID Account Origination Balance Date Date Rate Rate Rate Margin
- ----------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
61 MLC172 800307738 93,750.00 93,684.64 11/01/97 10/01/27 11.125 10.125 17.125 6.800
61 MLC172 800319402 121,500.00 121,500.00 12/01/97 11/01/27 9.625 8.625 15.625 5.000
61 MLC172 800328775 178,500.00 178,436.35 11/01/97 10/01/27 11.000 11.000 17.000 7.550
61 MLC172 800329104 51,200.00 51,171.36 11/01/97 10/01/27 12.125 11.125 18.125 7.250
61 MLC172 800329237 100,000.00 100,000.00 12/01/97 11/01/27 10.000 9.000 16.000 5.600
61 MLC172 800337859 113,200.00 113,171.83 12/01/97 11/01/27 12.625 11.625 18.625 7.500
61 MLC172 800339194 42,400.00 42,386.08 12/01/97 11/01/27 11.375 10.375 17.375 7.000
61 MLC172 800341380 50,400.00 50,336.40 09/01/97 08/01/27 11.625 10.625 17.625 6.900
61 MLC172 800342958 52,900.00 52,862.10 10/01/97 09/01/27 11.000 10.000 17.000 6.650
61 MLC172 800343311 64,800.00 64,800.00 12/01/97 11/01/27 12.625 11.625 18.625 7.500
61 MLC172 800348013 128,000.00 128,000.00 12/01/97 11/01/27 12.000 11.000 18.000 7.250
61 MLC172 800355414 63,890.00 63,872.71 11/01/97 10/01/27 12.250 11.250 18.250 7.500
61 MLC172 800357048 119,700.00 119,661.74 11/01/97 10/01/27 11.500 10.500 17.500 7.150
61 MLC172 800359481 106,250.00 106,212.12 11/01/97 10/01/27 11.000 10.000 17.000 6.550
61 MLC172 800359895 111,650.00 111,605.63 11/01/97 10/01/27 10.500 10.500 16.500 7.550
61 MLC172 800364879 140,250.00 140,184.57 12/01/97 11/01/27 9.750 9.750 15.750 6.250
61 MLC172 800367484 62,900.00 62,900.00 12/01/97 11/01/27 8.625 7.625 14.625 4.500
61 MLC172 800367765 100,000.00 99,956.93 12/01/97 11/01/27 10.125 9.125 16.125 5.500
61 MLC172 800370157 100,000.00 99,946.79 12/01/97 11/01/27 9.125 8.125 15.125 4.500
61 MLC172 800370611 61,200.00 61,200.00 12/01/97 11/01/27 9.875 8.875 15.875 5.500
61 MLC172 800371817 155,550.00 155,460.53 11/01/97 10/01/27 12.000 11.000 18.000 7.550
61 MLC172 800372096 60,350.00 60,350.00 12/01/97 11/01/27 11.000 10.000 17.000 6.250
61 MLC172 800375701 133,250.00 133,189.47 11/01/97 10/01/27 9.875 8.875 15.875 5.400
61 MLC172 800376865 76,600.00 76,600.00 12/01/97 11/01/27 10.750 9.750 16.750 6.500
61 MLC172 800377624 61,000.00 61,000.00 12/01/97 11/01/27 11.625 10.625 17.625 6.750
61 MLC172 800379786 28,000.00 27,993.23 12/01/97 11/01/27 12.750 11.750 18.750 7.500
61 MLC172 800387185 140,250.00 140,194.26 11/01/97 10/01/27 10.500 9.500 16.500 5.800
61 MLC172 800387490 128,000.00 127,956.79 11/01/97 10/01/27 11.250 10.250 17.250 7.250
61 MLC172 800388316 99,000.00 98,977.99 11/01/97 10/01/27 13.125 12.125 19.125 7.650
61 MLC172 800391062 83,200.00 83,162.20 11/01/97 10/01/27 9.875 8.875 15.875 5.400
61 MLC172 800391153 153,000.00 153,000.00 12/01/97 11/01/27 9.250 9.250 15.250 6.000
61 MLC172 800395402 85,850.00 85,809.95 12/01/97 11/01/27 9.750 8.750 15.750 6.250
61 MLC172 800396475 85,000.00 85,000.00 12/01/97 11/01/27 9.750 8.750 15.750 5.000
61 MLC172 800400558 116,000.00 116,000.00 12/01/97 11/01/27 12.125 11.125 18.125 7.750
61 MLC172 800403198 54,000.00 54,000.00 12/01/97 11/01/27 9.500 8.500 15.500 5.250
61 MLC172 800404832 57,400.00 57,400.00 12/01/97 11/01/27 8.000 8.000 14.000 4.750
61 MLC172 800405540 92,000.00 92,000.00 12/01/97 11/01/27 12.750 11.750 18.750 7.500
61 MLC172 800405961 148,000.00 148,000.00 12/01/97 11/01/27 9.875 8.875 15.875 5.250
61 MLC172 800407652 45,050.00 45,050.00 12/01/97 11/01/27 11.625 10.625 17.625 7.000
61 MLC172 800407876 66,300.00 66,300.00 12/01/97 11/01/27 11.875 10.875 17.875 7.000
61 MLC172 800411779 49,600.00 49,584.15 12/01/97 11/01/27 11.500 10.500 17.500 6.750
61 MLC172 800413486 142,800.00 142,697.69 10/26/97 09/26/27 11.000 11.000 17.000 7.500
61 MLC172 800424723 96,000.00 96,000.00 12/01/97 11/01/27 11.500 10.500 17.500 7.250
--------------------------------------------- ----------------------------------------
100 9,920,447.00 9,917,051.73 10.602 9.843 16.602 6.404
62 CPI1 52415 111,500.00 104,864.17 03/01/92 02/01/22 7.875 0.000 13.875 2.875
62 CPI1 54874 86,400.00 81,692.70 10/01/92 09/01/22 7.750 0.000 13.750 2.875
62 CPI1 57943 51,000.00 48,178.09 06/01/93 05/01/23 6.625 0.000 12.625 2.875
62 CPI1 58966 130,150.00 122,948.47 06/01/93 05/01/23 6.625 0.000 12.625 2.875
62 CPI1 59105 104,000.00 98,566.58 09/01/93 08/01/23 6.625 0.000 12.625 2.875
62 CPI1 60954 85,000.00 79,276.12 12/01/93 11/01/23 6.750 0.000 12.750 2.875
62 CPI1 506394 150,000.00 141,980.81 11/01/93 10/01/23 6.750 0.000 12.750 2.750
62 CPI1 506998 122,300.00 115,714.41 11/01/93 10/01/23 6.750 0.000 12.750 2.750
62 CPI1 507103 60,000.00 49,426.91 12/01/93 11/01/08 6.875 0.000 12.875 2.750
62 CPI1 507319 86,400.00 82,183.67 11/01/93 10/01/23 6.750 0.000 12.750 2.750
62 CPI1 507632 178,400.00 169,962.97 12/01/93 11/01/23 6.750 0.000 12.750 2.750
62 CPI1 507798 169,000.00 160,671.49 12/01/93 11/01/23 6.750 0.000 12.750 2.750
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
Alliance Funding Sale Schedule A - Group 2, Sub-Pool III Page 3 - 12 12/17/97
A division of Superior Bank FSB 1997-4 Class 2 - Initial Pool of Adjustable Rate Mortgages - Settlement 12/22/97
Zip
Pool ID Sale ID Account Name Address City State Code
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<S> <C> <C> <C> <C> <C> <C> <C>
62 SB581 161532619 KASHAM RAFIQ 3970 HILLSIDE DRIVE YPSILANTI MI 48197
62 SB581 161535703 DAVIDSON ANTHONY B 1742 MARION CT WHEATON IL 60189
62 SB581 161538624 MONTGOMERY THOMAS G 3676 TYLER AVENUE BERKLEY MI 48072
62 SB581 161540844 DEBARDELEBEN MONTINA 3371 WEST 95TH STREET CLEVELAND OH 44102
62 SB581 161542295 TOTH ANDRAS 11348 CAVELL LIVONIA MI 48150
62 SB581 161548169 JOHNSON DANIEL 318 SOUTH BILL STREET PLANO IL 60545
62 SB581 161548540 KOWICH KIMBERLY A 2016 NEW YORK LINCOLN PARK MI 48146
62 SB581 161548557 STANCH MICHAEL M 16630 MARTIN ROSEVILLE MI 48066
62 SB581 161548607 MOORE EVELYN SINQUEFIEL 2730 WINSFORD LANSING MI 48911
62 SB581 161548698 MCCLURE DIANNE 3269 HOVEY STREET INDIANAPOLIS IN 46218
62 SB581 161549423 CROWDER TERRY D 230 ANDERSON AVENUE KNOXVILLE TN 37917
62 SB581 161551015 COOPER CHARLES L 7036 BEARD ROAD NORTH STREET MI 48049
62 SB581 161551064 WILLIAMS SCOTT G 1044 LAKEVIEW WATERFORD MI 48328
62 SB581 161552427 SEGAL NEIL 24230 RADCLIFT OAK PARK MI 48237
62 SB581 161553961 MOSS GREEN W III 4134 THREE MILE ROAD DETROIT MI 48224
62 SB581 161553995 FELSTER DOUGLAS G 38105 MURDICK NEW BALTIMORE MI 48047
62 SB581 161555842 BARON MICHAEL 4207 LAKE ROAD WEST ASHTABULA OH 44004
62 SB581 161556956 PRINCE MARY ANN 4261 EAST 175TH STREET CLEVELAND OH 44128
62 SB581 161557897 DUNIGAN ERIC V 15660 GLASTONBURY DETROIT MI 48223
62 SB581 161558341 CHRAPKOWSKI JOHN E 1248 WEST BELLE PLAINE AVE GURNEE IL 60031
62 SB581 161558523 NEWTON MARY E 53088 CR 43 MIDDLEBURY IN 46540
62 SB581 161560586 MINER CAROLYN 5149 WEST WOLFRAM STREET CHICAGO IL 60641
62 SB581 161560974 HUFFMAN BART A 3112 SHERMAN ANDERSON IN 46016
62 SB581 161561634 HEIM DOUGLAS C 2225 SOUTH 29TH STREET MILWAUKEE WI 53215
62 SB581 161561659 GURAK CHRISTOPHE 2379 MARKLAWN CT WATERFORD MI 48329
62 SB581 161561766 DRAKE KAREN 2945 S MCCLURE STREET INDIANAPOLIS IN 46241
62 SB581 161562046 AVERY GERI 6119 NORTH 37TH STREET MILWAUKEE WI 53209
62 SB581 161562459 TOTTY KEVIN 2861 WEST RICK DRIVE PORT HURON MI 48060
62 SB581 161562509 HOLMAN KENNETH A 498 EAST 13TH STREET SEYMOUR IN 47224
62 SB581 161562772 FRAY VERNON 945 LYDIA PLACE BALDWIN HARBOR NY 11510
62 SB581 161563135 KELLER GARY W 353 MCCLAIN AVENUE COSHOCTON OH 43812
62 SB581 161565460 ROBINSON ROY E JR 53441 ELYSIA DRIVE CHESTERFIELD MI 48051
62 SB581 161566914 PETRO ALBERT M 25896 GOLF POINTE DRIVE SOUTHFIELD MI 48075
62 SB581 161566971 DAVIS CHARLIE MAE 10203 LAKEPOINTE DETROIT MI 48224
62 SB581 161566989 TOCCO CHRISTIAN 2180 ZENIA TROY MI 48083
62 SB581 161567680 KING MARILYN 10438 SOUTH TORRENCE CHICAGO IL 60628
62 SB581 161567854 BELL DOUGLAS 46500 CYPRESS CT SHELBY TWP MI 48135
62 SB581 161568704 HUSTON JAMES A 4 PARKS STREET OXFORD MI 48371
62 SB581 161569264 APPLEWHITE CHARLES 19337 BRADFORD DETROIT MI 48205
62 SB581 161569330 WALDRON THERESE 829 WEST ALTGELD AVE CHICAGO IL 60614
62 SB581 161570338 PEPERA RENEE 5330 CLINTONVILLE ROAD CLARKSTON MI 48346
62 SB581 161570411 MAHL ROBERT E 2105 RANDALL ROAD INDIANAPOLIS IN 46240
62 SB581 161571070 BOGGS DIANNA S 5 N 597 WEBER DR ST CHARLES IL 60174
62 SB581 161571179 TRESS TIMOTHY 21609 SHADYBROOK DRIVE NOVI MI 48375
62 SB581 161571328 DECKER JANET L 1340 GREENHILLS ROAD GREENFIELD IN 46140
62 SB581 161571955 AIRD MARY BETH 11250 LAKEHAVEN WHITE LAKE MI 48386
62 SB581 161571963 WURST STEVEN W 3561 TALL OAKS ORION MI 48359
62 SB581 161572300 EDWIN PARAMBALOT A 5 GOOSEBERRY LANE DWIGHT IL 60420
62 SB581 161573068 SCANLAND JOSEPH L 6233 EPPERSON DRIVE INDIANAPOLIS IN 46221
62 SB581 161573654 MCKAY GEORGE S 4045 N LOWELL AVENUE CHICAGO IL 60641
62 SB581 161573746 SANSONETTI JOSEPH P 987 FLOYD ST BIRMINGHAM MI 48009
62 SB581 161574868 ERICKSON KATHLEEN M 908 9TH AVENUE NORTH PRINCETON MN 55371
62 SB581 161574967 MCMAHON STEVEN M 4087 PETERS ROAD COLUMBIAVILLE MI 48421
62 SB581 161576764 VIECE MARK J 423 ITASCA WOODDALE IL 60191
62 SB581 161577002 DELISI KENNETH W 5209 WEST 147TH ST OAK FOREST IL 60455
62 SB581 161577044 COOK ALFONIA 102 EAST 83RD ST CHICAGO IL 60619
62 SB581 161577192 EUBANKS JACKIE E 2430 WALNUT AUBURN HILLS MI 48326
<CAPTION>
Principal Cut-off Date First Initial Minimum Maximum
Balance at Principal Payment Maturity Mortgage Mortgage Mortgage Gross
Pool ID Sale ID Account Origination Balance Date Date Rate Rate Rate Margin
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<S> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
62 SB581 161532619 120,000.00 119,913.15 11/01/97 10/01/27 7.625 7.625 13.625 4.300
62 SB581 161535703 132,800.00 132,661.79 10/01/97 09/01/27 9.250 8.250 15.250 5.200
62 SB581 161538624 108,000.00 107,957.08 12/01/97 11/01/27 10.500 9.500 16.500 6.000
62 SB581 161540844 59,500.00 59,478.79 11/01/97 10/01/27 11.000 10.000 17.000 6.250
62 SB581 161542295 108,900.00 108,845.00 11/01/97 10/01/27 9.375 9.375 15.375 6.050
62 SB581 161548169 94,500.00 94,458.19 11/01/97 10/01/27 10.000 10.000 16.000 6.450
62 SB581 161548540 69,700.00 69,627.44 10/01/97 09/01/27 9.250 8.250 15.250 4.650
62 SB581 161548557 90,900.00 90,850.35 11/01/97 10/01/27 9.000 9.000 15.000 5.550
62 SB581 161548607 87,300.00 87,262.39 11/01/97 10/01/27 10.125 10.125 16.125 6.800
62 SB581 161548698 29,700.00 29,687.87 12/01/97 11/01/27 10.375 9.375 16.375 5.750
62 SB581 161549423 39,600.00 39,586.25 11/01/97 10/01/27 11.125 10.125 17.125 6.500
62 SB581 161551015 73,000.00 73,000.00 12/01/97 11/01/27 10.375 9.375 16.375 6.400
62 SB581 161551064 73,800.00 73,745.68 11/01/97 10/01/27 10.875 9.875 16.875 6.450
62 SB581 161552427 72,000.00 71,955.00 11/01/97 10/01/27 11.625 10.625 17.625 7.150
62 SB581 161553961 63,000.00 62,978.14 11/01/97 10/01/27 11.125 10.125 17.125 6.450
62 SB581 161553995 61,800.00 61,745.09 11/01/97 10/01/27 10.000 10.000 16.000 6.550
62 SB581 161555842 89,000.00 89,000.00 12/01/97 11/01/27 10.375 9.375 16.375 5.750
62 SB581 161556956 66,400.00 66,400.00 12/01/97 11/01/27 12.625 11.625 18.625 7.500
62 SB581 161557897 78,900.00 78,900.00 12/01/97 11/01/27 10.625 9.625 16.625 6.450
62 SB581 161558341 106,200.00 106,200.00 12/01/97 11/01/27 8.750 7.750 14.750 4.500
62 SB581 161558523 79,200.00 79,200.00 12/01/97 11/01/27 10.375 9.375 16.375 6.250
62 SB581 161560586 63,000.00 62,979.31 12/01/97 11/01/27 11.375 10.375 17.375 6.000
62 SB581 161560974 55,200.00 55,180.32 11/01/97 10/01/27 11.000 10.000 17.000 6.250
62 SB581 161561634 58,400.00 58,400.00 12/01/97 11/01/27 12.750 11.750 18.750 7.500
62 SB581 161561659 144,000.00 144,000.00 12/01/97 11/01/27 10.875 9.875 16.875 6.450
62 SB581 161561766 38,200.00 38,186.75 12/01/97 11/01/27 11.125 10.125 17.125 6.750
62 SB581 161562046 25,800.00 25,785.53 12/01/97 11/01/27 8.875 7.875 14.875 4.750
62 SB581 161562459 74,700.00 74,672.63 11/01/97 10/01/27 10.875 9.875 16.875 6.450
62 SB581 161562509 80,000.00 80,000.00 12/01/97 11/01/27 9.875 8.875 15.875 5.500
62 SB581 161562772 199,800.00 199,718.44 12/01/97 11/01/27 10.375 9.375 16.375 4.500
62 SB581 161563135 46,800.00 46,800.00 12/01/97 11/01/27 10.000 9.000 16.000 5.750
62 SB581 161565460 138,600.00 138,600.00 12/01/97 11/01/27 8.250 8.250 14.250 5.300
62 SB581 161566914 192,000.00 192,000.00 12/01/97 11/01/27 12.750 11.750 18.750 7.500
62 SB581 161566971 47,000.00 47,000.00 12/01/97 11/01/27 10.500 10.500 16.500 7.550
62 SB581 161566989 137,700.00 137,549.00 11/01/97 10/01/27 9.000 8.000 15.000 4.200
62 SB581 161567680 50,400.00 50,355.21 11/01/97 10/01/27 10.000 9.000 16.000 5.000
62 SB581 161567854 123,200.00 123,144.02 11/01/97 10/01/27 9.875 8.875 15.875 5.150
62 SB581 161568704 97,500.00 97,459.11 12/01/97 11/01/27 10.250 9.250 16.250 6.200
62 SB581 161569264 25,300.00 25,300.00 12/01/97 11/01/27 12.125 12.125 18.125 7.625
62 SB581 161569330 204,000.00 204,000.00 12/01/97 11/01/27 12.125 12.125 18.125 8.900
62 SB581 161570338 138,500.00 138,441.92 11/01/97 10/01/27 10.250 10.250 16.250 6.500
62 SB581 161570411 68,000.00 67,983.55 12/01/97 11/01/27 12.750 11.750 18.750 8.000
62 SB581 161571070 116,000.00 116,000.00 01/01/98 12/01/27 10.750 10.750 16.750 7.250
62 SB581 161571179 100,000.00 99,901.25 11/01/97 10/01/27 9.500 9.500 15.500 6.050
62 SB581 161571328 136,000.00 135,962.16 11/01/97 10/01/27 12.125 11.125 18.125 7.250
62 SB581 161571955 172,000.00 172,000.00 12/01/97 11/01/27 9.250 8.250 15.250 4.950
62 SB581 161571963 206,900.00 206,900.00 12/01/97 11/01/27 9.375 9.375 15.375 6.400
62 SB581 161572300 133,200.00 133,132.74 12/01/97 11/01/27 9.375 9.375 15.375 6.250
62 SB581 161573068 81,900.00 81,866.56 11/01/97 10/01/27 10.375 9.375 16.375 5.750
62 SB581 161573654 142,400.00 142,400.00 12/01/97 11/01/27 9.625 8.625 15.625 5.000
62 SB581 161573746 154,000.00 154,000.00 12/01/97 11/01/27 10.625 9.625 16.625 6.000
62 SB581 161574868 70,200.00 70,200.00 12/01/97 11/01/27 10.375 9.375 16.375 6.250
62 SB581 161574967 136,000.00 135,952.81 12/01/97 11/01/27 11.125 10.125 17.125 6.750
62 SB581 161576764 135,000.00 135,000.00 12/01/97 11/01/27 10.125 9.125 16.125 6.250
62 SB581 161577002 157,500.00 157,424.55 12/01/97 11/01/27 9.625 8.625 15.625 5.500
62 SB581 161577044 104,500.00 104,500.00 12/01/97 11/01/27 11.375 10.375 17.375 6.500
62 SB581 161577192 139,050.00 139,050.00 12/01/97 11/01/27 10.500 9.500 16.500 6.250
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
Alliance Funding Sale Schedule A - Group 2, Sub-Pool III Page 4 - 12 12/17/97
A division of Superior Bank FSB 1997-4 Class 2 - Initial Pool of Adjustable Rate Mortgages - Settlement 12/22/97
Zip
Pool ID Sale ID Account Name Address City State Code
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<S> <C> <C> <C> <C> <C> <C> <C>
62 SB581 161577242 SPRAGUE APRIL L 1186 JAY STREET WATERFORD MI 48327
62 SB581 161577317 CONLY SHARON A 1120 WEST 72ND STREET INDIANAPOLIS IN 46260
62 SB581 161578596 DENNIS GEORGE 13948 MELVIN LIVONIA MI 48154
62 SB581 161582788 MOLNAR CHRISTOPHE D 6820 LATHERS GARDEN CITY MI 48135
62 SB581 161582804 LEWIS HENDERSON 8083 PENROD DETROIT MI 48227
62 SB581 161582838 PRUETT DARRYL M 42969 VERSAILLES CANTON MI 48187
62 SB581 161585153 KOZAK RICHARD 1515 JANET DOWNERS GROVE IL 60515
62 SB581 161585864 KOCH NORBERT R 612 LONGVIEW DRIVE ANTIOCH IL 60002
62 SB581 161588496 SKOGLUND ROBERT G 4260 MCGIRR ROAD SHABBONA IL 60550
62 SB581 161588579 HIGGINS MIKE P 2966 FARMERS CREEK ROAD METAMORA TOWNSHIP MI 48455
62 SB583 161502109 MCBRIDE TERRANCE K 2940 WEST MONTBELLO DRIVE COLORADO SPRINGS CO 80918
62 SB583 161525563 LYNN SHAWN C 2181 STOCKMEYER WESTLAND MI 48185
62 SB583 161534342 DOTSON VERNON M 4908 FALCON GROVE DR INDIANAPOLIS IN 46254
62 SB583 161537873 VALDEZ EMMANUEL V V 2651 NORTH WAYNE UNIT 1 CHICAGO IL 60614
62 SB583 161545439 BENEDETTO DIANE 620 BLUFF CITY BOULEVARD ELGIN IL 60120
62 SB583 161549407 ROLLINS ROBERT JEREMY 7527 FOREST PARK DRIVE INDIANAPOLIS IN 46217
62 SB583 161560636 BROWN PAUL 124 CHAPEL RIDGE NE CANTON OH 44714
62 SB583 161562798 TUCKER CLARICE 5521 BUCHANAN STREET MERRILLVILLE IN 46410
62 SB583 161575162 WILLIS BRUCE ALLEN 9 WEST ARMSTRONG STREET FRANKFORT IN 46041
62 SB583 161581343 BODEN JAY 235 KELLER DRIVE GREENFIELD IN 46140
62 SB583 161582770 ABDO ALI M 2344 2346 CABOT DETROIT MI 48210
62 SB583 161585328 PUTRUS SABIHA 1828 E MILTON HAZEL PARK MI 48030
62 SB583 161587092 MACERONI MICHAEL 2424 BENJAMIN AVE ROYAL OAK MI 48073
62 SB583 161589783 TEAL THOMAS L 8455 SMILEY SHELBY TWP. MI 48316
62 SB583 161590484 DANIELS SUSAN D 166 CAMBRIDGE LANE BLOOMINGDALE IL 60108
62 SB583 161591383 BRADY DONNA J 729 GOODWIN DRIVE PARK RIDGE IL 60068
62 SB583 161592043 ERICKSON DALE E 7717 KITTERY LANE MENTOR OH 44060
62 SB583 161593140 MABEY JOHN E 32494 WISCONSIN LIVONIA MI 48150
62 SB583 161594098 SHEPARD CAROLYN F 312/314 N TACOMA AVE INDIANAPOLIS IN 46201
62 SB583 161595350 SARPALIUS PAUL J 8721 S SPROAT OAKLAWN IL 60453
62 SB583 161597646 SMOLARCZYK JOHN 5247 SOUTH MENARD AVENUE CHICAGO IL 60638
62 SB583 161600507 THOMAS WILLIE M JR 7422 PATTON DETROIT MI 48228
62 SBC582 800255218 CARRINGTON CAROL 75 SUNKEN MEADOW RD FORT SALONGA NY 11768
62 SBC582 800263303 HARKINS KAREN KARTMAN 521 EAST MANOA ROAD HAVERTOWN PA 19083
62 SBC582 800280109 SNYDER SCOTT M 34 CANAAN STREET CARBONDALE PA 18407
62 SBC582 800313488 FARS FRANK 363 LATIMER ROAD SOUTHAMPTON PA 18966
62 SBC582 800337503 LOCKMAN DWAYNE D SR 205 CEDAR RUN DRIVE DOUGLASSVILLE PA 19518
62 SBC582 800351124 CERRO JEFFREY N 1316 CRAIG STREET MCKEESPORT PA 15132
62 SBC582 800351223 STEWART KEITH R 2106 ROCHELLE PLACE COLUMBUS OH 43232
62 SBC582 800369050 HEADEN BENJAMIN JR LOT 21 MOUNTAIN VIEW ESTAT BLAKESLEE PA 18610
62 SBC582 800373219 HOWARD HOLLY 48 EAST 490 SOUTH IVINS UT 84738
62 SBC582 800376600 WILLIAMS DENNIS L 610 ALLANA CT STONE MOUNTAIN GA 30087
62 SBC582 800377459 DUNN NEVILLE 1801 ARNOW AVENUE BRONX NY 10469
62 SBC582 800383168 HUDGINS JERRY W 145 BELVIDERE STREET NAZARETH PA 18064
62 SBC582 800386625 STEELMAN PAUL M 604 CANDLEWOOD DRIVE BLAKESLEE PA 18610
62 SBC582 800387623 EDGELL MICHAEL T 2623 SUNSET BOULEVARD BROOMALL PA 19008
62 SBC582 800394348 YOUNG JEANNE C 12526 EAST ALASKA AVENUE AURORA CO 80012
62 SBC582 800394355 BEE RICHARD D JR 4047 MASTERS ROAD LEAVITTSBURG OH 44430
62 SBC582 800395766 BAUER CAROL LYNN 296 OLD DELP ROAD LANCASTER PA 17601
62 SBC582 800397309 ATTANUCCI DEAN 1638 SUBURBAN AVENUE PITTSBURGH PA 15216
62 SBC582 800403347 DALEY KEVIN 99-63 211TH PLACE QUEENS VILLAGE NY 11429
62 SBC582 800407140 RICE ROBERT 21 NORTHGATE BLVD EASTON PA 18045
62 SBC582 800414526 KELLY LLOYD D 22208 120TH STREET EAST SUMNER WA 98390
62 SBC582 800415499 MATTHEWS CYNTHIA W 1015 S PARKER CHURCH RD RAEFORD NC 28376
62 SBC582 800417198 POWELL RHONDA 4161 NORTHEAST 1ST TERRACE POMPANO BEACH FL 33064
62 SBC582 800419053 WILLIAMS LOUISE 4644 14TH AVENUE SOUTH ST PETERSBURG FL 33711
62 SBC582 800425340 GUERRA EMILIO 7007 NORTH CAMERON AVENUE TAMPA FL 33614
<CAPTION>
Principal Cut-off Date First Initial Minimum Maximum
Balance at Principal Payment Maturity Mortgage Mortgage Mortgage Gross
Pool ID Sale ID Account Origination Balance Date Date Rate Rate Rate Margin
- ----------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
62 SB581 161577242 92,700.00 92,663.17 12/01/97 11/01/27 10.500 9.500 16.500 6.200
62 SB581 161577317 100,300.00 100,300.00 01/01/98 12/01/27 11.125 10.125 17.125 6.750
62 SB581 161578596 130,500.00 130,500.00 12/01/97 11/01/27 8.875 8.875 14.875 5.850
62 SB581 161582788 78,800.00 78,800.00 12/01/97 11/01/27 8.375 8.375 14.375 5.300
62 SB581 161582804 45,900.00 45,877.42 12/01/97 11/01/27 9.500 9.500 15.500 6.550
62 SB581 161582838 153,000.00 152,904.90 12/01/97 11/01/27 8.375 8.375 14.375 5.300
62 SB581 161585153 67,000.00 67,000.00 12/01/97 11/01/27 10.875 9.875 16.875 6.000
62 SB581 161585864 93,800.00 93,800.00 01/01/98 12/01/27 8.125 8.125 14.125 4.750
62 SB581 161588496 81,900.00 81,900.00 01/01/98 12/01/27 11.125 11.125 17.125 7.250
62 SB581 161588579 67,500.00 67,500.00 01/01/98 12/01/27 9.875 8.875 15.875 6.050
62 SB583 161502109 119,250.00 119,047.40 08/01/97 07/01/27 10.250 9.250 16.250 5.750
62 SB583 161525563 118,800.00 118,618.66 08/01/97 07/01/27 10.750 9.750 16.750 4.900
62 SB583 161534342 180,000.00 180,000.00 01/01/98 12/01/27 10.625 9.625 16.625 6.000
62 SB583 161537873 138,700.00 138,477.50 11/01/97 10/01/27 7.125 7.125 13.125 3.750
62 SB583 161545439 64,000.00 63,886.75 10/01/97 09/01/27 6.625 6.625 12.625 3.250
62 SB583 161549407 113,900.00 113,900.00 01/01/98 12/01/27 11.125 10.125 17.125 6.750
62 SB583 161560636 112,000.00 112,000.00 01/01/98 12/01/27 12.750 11.750 18.750 8.000
62 SB583 161562798 35,000.00 35,000.00 01/01/98 12/01/27 10.750 10.750 16.750 6.750
62 SB583 161575162 41,600.00 41,600.00 12/01/97 11/01/27 12.750 11.750 18.750 8.000
62 SB583 161581343 139,400.00 139,357.84 12/01/97 11/01/27 11.750 10.750 17.750 7.250
62 SB583 161582770 22,800.00 22,800.00 12/01/97 11/01/27 12.625 11.625 18.625 7.900
62 SB583 161585328 47,900.00 47,883.83 12/01/97 11/01/27 11.250 10.250 17.250 7.050
62 SB583 161587092 148,500.00 148,500.00 01/01/98 12/01/27 8.250 8.250 14.250 5.300
62 SB583 161589783 127,500.00 127,500.00 01/01/98 12/01/27 10.500 10.500 16.500 7.800
62 SB583 161590484 170,000.00 170,000.00 01/01/98 12/01/27 11.000 10.000 17.000 6.750
62 SB583 161591383 166,500.00 166,500.00 01/01/98 12/01/27 9.750 8.750 15.750 5.500
62 SB583 161592043 200,000.00 200,000.00 01/01/98 12/01/27 7.750 6.750 13.750 3.750
62 SB583 161593140 114,700.00 114,700.00 01/01/98 12/01/27 9.375 9.375 15.375 6.400
62 SB583 161594098 42,500.00 42,500.00 01/01/98 12/01/27 11.000 10.000 17.000 6.250
62 SB583 161595350 104,500.00 104,500.00 01/01/98 12/01/27 8.875 7.875 14.875 4.250
62 SB583 161597646 85,000.00 85,000.00 01/01/98 12/01/27 9.750 8.750 15.750 5.500
62 SB583 161600507 46,750.00 46,750.00 01/01/98 12/01/27 11.500 10.500 17.500 7.450
62 SBC582 800255218 185,000.00 184,717.52 09/01/97 08/01/27 9.375 9.375 15.375 5.800
62 SBC582 800263303 113,900.00 113,743.45 09/01/97 08/01/27 9.875 9.875 15.875 6.250
62 SBC582 800280109 20,000.00 19,989.49 10/01/97 09/01/27 12.375 11.375 18.375 7.400
62 SBC582 800313488 115,515.00 115,462.52 11/01/97 10/01/27 9.875 9.875 15.875 6.500
62 SBC582 800337503 159,390.00 159,390.00 12/01/97 11/01/27 10.250 9.250 16.250 5.750
62 SBC582 800351124 24,000.00 23,986.89 12/01/97 11/01/27 9.000 8.000 15.000 4.500
62 SBC582 800351223 56,100.00 56,065.90 11/01/97 10/01/27 11.750 10.750 17.750 7.200
62 SBC582 800369050 153,000.00 152,925.19 11/01/97 10/01/27 9.625 8.625 15.625 5.200
62 SBC582 800373219 62,400.00 62,347.44 10/01/97 09/01/27 10.250 9.250 16.250 5.250
62 SBC582 800376600 107,100.00 107,068.49 11/01/97 10/01/27 11.875 10.875 17.875 7.550
62 SBC582 800377459 56,000.00 56,000.00 12/01/97 11/01/27 9.875 8.875 15.875 5.500
62 SBC582 800383168 103,500.00 103,500.00 12/01/97 11/01/27 9.875 8.875 15.875 5.750
62 SBC582 800386625 115,650.00 115,604.04 11/01/97 10/01/27 10.500 9.500 16.500 6.125
62 SBC582 800387623 104,985.00 104,985.00 12/01/97 11/01/27 8.875 7.875 14.875 5.000
62 SBC582 800394348 102,000.00 102,000.00 12/01/97 11/01/27 11.125 10.125 17.125 7.000
62 SBC582 800394355 41,250.00 41,250.00 12/01/97 11/01/27 10.875 9.875 16.875 6.000
62 SBC582 800395766 139,500.00 139,500.00 12/01/97 11/01/27 10.375 9.375 16.375 5.750
62 SBC582 800397309 24,800.00 24,800.00 12/01/97 11/01/27 12.750 11.750 18.750 7.500
62 SBC582 800403347 150,000.00 150,000.00 12/01/97 11/01/27 11.750 10.750 17.750 6.875
62 SBC582 800407140 119,000.00 118,952.71 12/01/97 11/01/27 10.500 10.500 16.500 7.000
62 SBC582 800414526 117,300.00 117,300.00 12/01/97 11/01/27 10.375 9.375 16.375 6.750
62 SBC582 800415499 58,825.00 58,825.00 12/01/97 11/01/27 12.125 11.125 18.125 7.250
62 SBC582 800417198 76,500.00 76,468.77 12/01/97 11/01/27 10.375 9.375 16.375 6.250
62 SBC582 800419053 58,500.00 58,500.00 12/01/97 11/01/27 10.375 9.375 16.375 6.250
62 SBC582 800425340 70,400.00 70,400.00 12/01/97 11/01/27 9.875 8.875 15.875 5.500
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
Alliance Funding Sale Schedule A - Group 2, Sub-Pool III Page 5 - 12 12/17/97
A division of Superior Bank FSB 1997-4 Class 2 - Initial Pool of Adjustable Rate Mortgages - Settlement 12/22/97
Zip
Pool ID Sale ID Account Name Address City State Code
- ------------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C>
62 SBC582 800430688 ARMSTRONG JAMES 714 TERRACE PLACE UNIONDALE NY 11553
62 SBC582 800433054 CORRENTE MICHAEL R 808 VICTORIA DRIVE TOBYHANNA PA 18466
62 SBC582 800435224 JONES JAY W 2130 EAST 7800 SOUTH SOUTH WEBER UT 84405
62 SBC582 800443566 DEMING VALERIE ANNE 1960 IVY STREET DENVER CO 80220
62 SBC582 800445421 INMON HAROLD DEAN 2815 WEST VISTA AVENUE PHOENIX AZ 85051
62 SBC584 800227951 BARRY STELLA 64 HOMMELL STREET VALLEY STREAM NY 11580
62 SBC584 800257271 LIGHTNER CRAIG 29446 RANGER AVENUE BIG PINE KEY FL 33043
62 SBC584 800302333 HOWARD J. CHRISTOPHE 1201 TOWER STREET CANTON TX 75103
62 SBC584 800315368 COCHENOUR JAMES C III 6622 HOOD STREET HOLLYWOOD FL 33024
62 SBC584 800321689 SLATER GREGORY A 4910 WANDERING CIRCLE COLORADO SPRINGS CO 80917
62 SBC584 800322000 RUYBAL KATHLEEN M 3918 LANCASTER DRIVE PUEBLO CO 81005
62 SBC584 800325920 GABBETT JOHN R 8501 WYNDAM ROAD PENNSAUKEN NJ 08109
62 SBC584 800328478 MEEKINS RACHEL 40 SYLVESTER STREET TRENTON NJ 08638
62 SBC584 800331324 PASQUALICHIO FRANK R 138 CAREY AVENUE WILKES-BARRE PA 18702
62 SBC584 800333387 VIDLER RUSSELL L 59 BALD HILL ROAD ITHACA NY 14850
62 SBC584 800334351 DOULIN DENNIS M 1251 PENNY ROAD HOLTWOOD PA 17532
62 SBC584 800338410 VIGIL ROBERT ANTHONY 6155 DOVER STREET ARVADA CO 80004
62 SBC584 800340218 BENNER CATHERINE L 643 E WASHINGTON AVENUE BETHLEHEM PA 18017
62 SBC584 800342032 FIELDS CHARMAIN 104 DARTMOUTH COLORADO SPRINGS CO 80911
62 SBC584 800346165 SNYDER RAYMOND A 11559 NORTH UINTAH CANYON NEOLA UT 84053
62 SBC584 800348286 RICHARDS MICHAEL L 177 SWALM AVENUE WESTBURY NY 11590
62 SBC584 800350688 GARTRELL ROGER D 17211 EAST PURDUE PLACE AURORA CO 80013
62 SBC584 800356974 PRIOLO ROBERT 805 WILLIAMSBURG DRIVE MAHOPAC NY 10541
62 SBC584 800358632 GRANT WESLEY 158 NARROW LANE CHARLESTOWN RI 02813
62 SBC584 800359903 PRIMM RICHARD L 890 HILL STREET JACKSONVILLE OR 97530
62 SBC584 800360083 BENAVIDEZ ANDRES H 314 NORTH CENTRAL AVENUE SAFFORD AZ 85546
62 SBC584 800360141 DESMARAIS DAVID M 40 PLEASANT HILLS DRIVE YAKIMA WA 98908
62 SBC584 800362964 CAMPBELL WASHBURN W 8 BYRON STREET NEW CITY NY 10956
62 SBC584 800369316 KOCI LAIM 1202 WEST CAROL ANN WAY PHOENIX AZ 85023
62 SBC584 800375149 RO YOUNG 4675 CADE COURT COLORADO SPRINGS CO 80922
62 SBC584 800380826 REICHERSEDER KATHLEEN 220 WEST 80TH AVENUE DENVER CO 80221
62 SBC584 800380842 MAGNUSSON LAURA M 10009 NORTH 31ST STREET PHOENIX AZ 85028
62 SBC584 800381048 STODDARD GEOFFREY G ROUTE 6 & TWIN LAKES ROAD SHOHOLA PA 18458
62 SBC584 800381592 MURPHY KEVIN JOHN 902 WEST BROOKCREST CIRCLE SOUTH JORDAN UT 84095
62 SBC584 800385205 JOYNER SHARLA J 9021 EAST E" STREET TACOMA WA 98445
62 SBC584 800388514 AHMED MARIA 3087 DENTON DRIVE MERRICK NY 11566
62 SBC584 800390601 CHAIN BRUCE K. 11665 DECATUR DRIVE WESTMINSTER CO 80234
62 SBC584 800394223 BANGERTER ROBERT M. 199 CEDAR STREET CASTLE ROCK CO 82104
62 SBC584 800408007 NATIVO ESTHER 5507 WEST WILSHIRE DRIVE PHOENIX AZ 85035
62 SBC584 800408494 RUBINO JOSEPH E 41 MEDAUGH ROAD WANTAGE NJ 07461
62 SBC584 800409161 NICHOLS SALENA A 1210 INDEPENDENCE DRIVE LONGVIEW TX 75604
62 SBC584 800409583 DONNINI MELISSA 726 MINOOKA AVE MOOSIC PA 18507
62 SBC584 800413411 JOHNSON DAVID L 25231 BUSY BEE DRIVE BONITA SPRINGS FL 34135
62 SBC584 800415085 SCHIMEK JOSEPH 56 SHORE DRIVE MASTIC BEACH NY 11951
62 SBC584 800415119 MIERS MUREL 313 EAST CRESTWOOD DRIVE WHITE OAK TX 75693
62 SBC584 800417271 BARNES KURT A 13145 RARITAN STREET WESTMINSTER CO 80234
62 SBC584 800417644 CARMEL ROBERT 968 GROSS PEAK COURT BUSHKILL PA 18324
62 SBC584 800424681 RODRIQUEZ NICOLAS 7032 MONTERRON LANE TAMPA FL 33625
62 SBC584 800427247 JARAMILLO GEORGE 7271 WOODBINE LANE MACUNGIE PA 18062
62 SBC584 800428930 RODRIGUEZ NICOLAS S 9455 14TH AVENUE SOUTHWEST SEATTLE WA 98106
62 SBC584 800430118 NGUYEN KEVIN 129 LEHIGH STREET WILKES BARRE PA 18702
62 SBC584 800430308 HOOLAHAN JOHN P 8 ELSPETH LANE EAST NORTHPORT NY 11731
62 SBC584 800433542 BLACKMAN PETER C 44 TENNESSEE AVENUE ALBANY NY 12205
62 SBC584 800435679 PHILLIPS CHARLES G 1503 MCCANN ROAD LONGVIEW TX 75601
62 SBC584 800438988 DUNNETT CHERYL 1042 MARINER AVENUE MANAHAWKIN NJ 08050
62 SBC584 800440364 DAVIS STEVEN E 16913 CLEAR SPRINGS CT E GREENWATER WA 98022
62 SBC584 800442550 KEKLEN NEAL RANDALL 16924 159TH AVENUE SE SNOHOMISH WA 98290
<CAPTION>
Principal Cut-off Date First Initial Minimum Maximum
Balance at Principal Payment Maturity Mortgage Mortgage Mortgage Gross
Pool ID Sale ID Account Origination Balance Date Date Rate Rate Rate Margin
- ----------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
62 SBC582 800430688 150,450.00 150,450.00 01/01/98 12/01/27 11.000 10.000 17.000 6.250
62 SBC582 800433054 109,000.00 109,000.00 01/01/98 12/01/27 10.375 9.375 16.375 6.250
62 SBC582 800435224 172,000.00 172,000.00 12/01/97 11/01/27 8.250 8.250 14.250 5.500
62 SBC582 800443566 199,750.00 199,672.73 12/01/97 11/01/27 10.625 9.625 16.625 7.050
62 SBC582 800445421 64,000.00 64,000.00 12/01/97 11/01/27 10.500 10.500 16.500 7.300
62 SBC584 800227951 169,600.00 169,414.03 10/01/97 09/01/27 9.000 8.000 15.000 4.500
62 SBC584 800257271 150,000.00 149,895.42 10/01/97 09/01/27 11.125 10.125 17.125 6.500
62 SBC584 800302333 29,325.00 29,313.66 11/01/97 10/01/27 10.625 9.625 16.625 6.250
62 SBC584 800315368 64,000.00 64,000.00 12/01/97 11/01/27 9.625 8.625 15.625 5.500
62 SBC584 800321689 92,700.00 92,648.03 11/01/97 10/01/27 8.875 7.875 14.875 4.500
62 SBC584 800322000 46,500.00 46,487.06 11/01/97 10/01/27 12.125 11.125 18.125 6.750
62 SBC584 800325920 117,000.00 117,000.00 12/01/97 11/01/27 10.000 9.000 16.000 6.000
62 SBC584 800328478 36,400.00 36,400.00 12/01/97 11/01/27 12.250 11.250 18.250 7.900
62 SBC584 800331324 86,400.00 86,363.77 11/01/97 10/01/27 10.250 9.250 16.250 5.750
62 SBC584 800333387 60,000.00 60,000.00 12/01/97 11/01/27 9.750 8.750 15.750 5.200
62 SBC584 800334351 66,895.00 66,868.42 12/01/97 11/01/27 10.500 9.500 16.500 6.500
62 SBC584 800338410 114,300.00 114,243.78 11/01/97 10/01/27 9.500 8.500 15.500 5.250
62 SBC584 800340218 40,000.00 39,982.77 12/01/97 11/01/27 10.125 9.125 16.125 5.500
62 SBC584 800342032 72,000.00 71,958.59 10/01/97 09/01/27 12.000 11.000 18.000 7.250
62 SBC584 800346165 123,900.00 123,848.04 11/01/97 10/01/27 10.250 9.250 16.250 5.750
62 SBC584 800348286 119,000.00 118,961.97 11/01/97 10/01/27 11.500 10.500 17.500 7.000
62 SBC584 800350688 117,300.00 117,225.20 11/01/97 10/01/27 8.250 7.250 14.250 4.000
62 SBC584 800356974 111,200.00 111,152.10 11/01/97 10/01/27 10.125 10.125 16.125 6.800
62 SBC584 800358632 80,500.00 80,456.03 11/01/97 10/01/27 9.000 9.000 15.000 5.250
62 SBC584 800359903 118,875.00 118,831.43 12/01/97 11/01/27 10.875 9.875 16.875 6.500
62 SBC584 800360083 15,000.00 15,000.00 12/01/97 11/01/27 9.750 9.750 15.750 6.650
62 SBC584 800360141 188,800.00 188,613.54 11/01/97 10/01/27 9.500 8.500 15.500 5.000
62 SBC584 800362964 144,000.00 143,941.21 12/01/97 11/01/27 10.375 9.375 16.375 6.250
62 SBC584 800369316 162,700.00 162,619.97 11/01/97 10/01/27 9.500 9.500 15.500 6.050
62 SBC584 800375149 109,170.00 109,113.41 11/01/97 10/01/27 9.250 8.250 15.250 4.500
62 SBC584 800380826 85,200.00 85,152.36 11/01/97 10/01/27 12.125 11.125 18.125 7.250
62 SBC584 800380842 83,725.00 83,695.94 11/01/97 10/01/27 11.125 10.125 17.125 6.800
62 SBC584 800381048 100,800.00 100,800.00 01/01/98 12/01/27 10.125 9.125 16.125 5.500
62 SBC584 800381592 145,000.00 144,573.62 11/01/97 10/01/27 8.875 7.875 14.875 4.250
62 SBC584 800385205 73,100.00 73,100.00 12/01/97 11/01/27 12.125 11.125 18.125 7.750
62 SBC584 800388514 192,000.00 192,000.00 01/01/98 12/01/27 9.000 9.000 15.000 5.500
62 SBC584 800390601 162,350.00 162,350.00 12/01/97 11/01/27 10.875 9.875 16.875 6.750
62 SBC584 800394223 92,400.00 92,400.00 12/01/97 11/01/27 8.250 8.250 14.250 5.500
62 SBC584 800408007 38,000.00 38,000.00 12/01/97 11/01/27 12.000 11.000 18.000 7.150
62 SBC584 800408494 150,450.00 150,450.00 12/01/97 11/01/27 11.875 10.875 17.875 7.000
62 SBC584 800409161 51,750.00 51,727.71 12/01/97 11/01/27 10.125 9.125 16.125 6.250
62 SBC584 800409583 39,900.00 39,880.88 12/01/97 11/01/27 9.625 8.625 15.625 5.250
62 SBC584 800413411 70,000.00 70,000.00 01/01/98 12/01/27 9.500 8.500 15.500 5.500
62 SBC584 800415085 84,500.00 84,500.00 12/10/97 11/10/27 10.000 9.000 16.000 5.500
62 SBC584 800415119 75,600.00 75,567.44 12/01/97 11/01/27 10.125 9.125 16.125 6.250
62 SBC584 800417271 132,175.00 132,175.00 12/01/97 11/01/27 8.875 7.875 14.875 5.000
62 SBC584 800417644 50,000.00 50,000.00 01/01/98 12/01/27 10.750 9.750 16.750 6.000
62 SBC584 800424681 57,750.00 57,750.00 01/01/98 12/01/27 12.125 11.125 18.125 7.750
62 SBC584 800427247 50,000.00 50,000.00 12/01/97 11/01/27 8.500 7.500 14.500 4.000
62 SBC584 800428930 119,700.00 119,700.00 12/01/97 11/01/27 10.875 9.875 16.875 7.000
62 SBC584 800430118 40,500.00 40,500.00 12/01/97 11/01/27 10.000 9.000 16.000 5.500
62 SBC584 800430308 120,700.00 120,658.12 12/01/97 11/01/27 11.125 10.125 17.125 6.750
62 SBC584 800433542 79,000.00 79,000.00 01/01/98 12/01/27 10.625 9.625 16.625 6.750
62 SBC584 800435679 75,225.00 75,225.00 01/01/98 12/01/27 11.375 10.375 17.375 7.000
62 SBC584 800438988 105,930.00 105,930.00 12/01/97 11/01/27 11.750 10.750 17.750 7.500
62 SBC584 800440364 148,000.00 148,000.00 01/01/98 12/01/27 9.125 8.125 15.125 5.000
62 SBC584 800442550 214,200.00 214,107.74 12/01/97 11/01/27 10.125 9.125 16.125 6.250
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
Alliance Funding Sale Schedule A - Group 2, Sub-Pool III Page 6 - 12 12/17/97
A division of Superior Bank FSB 1997-4 Class 2 - Initial Pool of Adjustable Rate Mortgages - Settlement 12/22/97
Zip
Pool ID Sale ID Account Name Address City State Code
- ------------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C>
62 SBC584 800452880 KANE ROBERT C 25 WHITEFACE INN ROAD LAKE PLACID NY 12946
62 SBC584 800452898 CRAIG JOE F 3103 NE PORTLAND BLVD PORTLAND OR 97211
62 SBC584 800453151 STOCK KEVIN R 1985 WEST PLACITA TAMPICO TUCSON AZ 85704
62 SBC584 800455123 AGUILAR DORIS 309 SOUTH MAIN STREET FREEPORT NY 11520
62 SBC584 800457186 BRUNNER RUSSELL STEVEN 220 LOCUST STREET PITTSBURGH PA 15202
62 SBC584 800457806 HALL IVY 28 WEST BROOK LANE ROOSEVELT NY 11575
62 SBC585 800322091 RANKIN ANDRE P 38 DEVONSHIRE LANE MT POCONO PA 18344
62 SBC585 800347718 FOSTER KATHRYN 257 BOSTON POST ROAD WATERFORD CT 06385
62 SBC585 800351801 GRAHAM CHERYL 1032 S 55TH STREET PHILADELPHIA PA 19143
62 SBC585 800360216 LEE VERNON L 1225 COMPASS PNTE CROSSING ALPHARETTA GA 30202
62 SBC585 800373318 SCOTT DANIELA TZOTCHE 8120 NORTH 42ND LANE PHOENIX AZ 85051
62 SBC585 800389884 SWEINHART DENNIS A 322 S COLLEGE STREET MYERSTOWN PA 17067
62 SBC585 800391690 MASE RUSSELL 5306 SOUTH HAZELTON LANE TEMPE AZ 85283
62 SBC585 800403081 O'LEARY WILLIAM P 2289 CHAPPARAL DRIVE PLUM PA 15239
62 SBC585 800424152 SLATON GERALDINE 114 VILLA DRIVE JENKINSBURG GA 30234
62 SBC585 800437048 VERRASTRO JOSEPH E RD 4 BOX 191A LAKE ARIEL PA 18436
62 SBC585 800441032 CAMPANELLI DAVID 2162 TRINIDAD COURT WEST PALM BEACH FL 33415
62 SBC585 800447377 NORMAN ROBERT L 2035 44TH ST SOUTH ST PETERSBURG FL 33711
62 SBC585 800449019 CORNETT ED 612 RENOTA DRIVE STONE MOUNTAIN GA 30083
62 SBC585 800462277 WALLACE MICHAEL G 6115 EAST ENCANTO STREET MESA AZ 85205
62 SBC591 800347411 TOBIAS JOEL P 188 FRENCH ROAD BOLTON CT 06043
62 SBC591 800360455 VALENTIN YVETTE 2304 ROUTE 302 CIRCLEVILLE NY 10919
62 SBC591 800387847 EHRHORN WILLIAM R 823 LEHMAN STREET LEBANON PA 17046
62 SBC591 800389959 DEMARCO HARRY J 1119 SNYDER AVENUE PHILADELPHIA PA 19148
62 SBC591 800396764 LEBO TIMOTHY D 232 FAITH CR CARLISLE PA 17013
62 SBC591 800398752 BOWSER DAVID E 67 WOODVIEW DRIVE MT HOLLY SPRINGS PA 17065
62 SBC591 800401804 BAKER ANTHONY 155 JAMES COURT PALMETTO GA 30268
62 SBC591 800405896 AGULIS LORRAINE E 650 STATE ROUTE 12 DELAWARE TOWNSHIP NJ 08822
62 SBC591 800409674 COCCODRILLI ROBERT M 1423 WINDSOR PARK LANE HAVERTOWN PA 19083
62 SBC591 800415325 MAHALLI YAHYA 5 HAMMING LANE COMMACK NY 11725
62 SBC591 800418725 MURPHY THOMAS C 52 PUTKER ROAD NORTH STONINGTON CT 06359
62 SBC591 800426173 CHISLEY VERNON P 6001 WALNUT STREET TEMPLE HILLS MD 20748
62 SBC591 800434706 LANCASTER KAREL 595 CHAUTAUGUA AVE W HEMPSTEAD NY 11552
62 SBC591 800435927 SULLIVAN JOSEPH A 412 HORNE AVENUE WINCHESTER CT 06098
62 SBC591 800446817 LINDSEY SHARONDA 5 SHELDON TERRACE NEWARK NJ 07106
62 SBC591 800447286 GEE CARL 113 EASTERN STREET NEW HAVEN CT 06513
62 SBC591 800450280 WEBSTER CATO DONNA 77 DAVID LANE DOVER NY 12522
62 SBC591 800460396 ALLEN ANNA LOUISE 4520 GLENBROOK DRIVE PALM HARBOR FL 34683
62 SBC591 800461337 BEDINGFIELD KATHERINE L 5299 SEATON DRIVE DUNWOODY GA 30338
62 SBC591 800465544 SODERSTROM STEVEN 1902 HEMLOCK DRIVE COOLBAUGH PA 18346
62 SBC591 800475543 BRACKEN CANDACE D 703 HUFF STREET GREENSBORO NC 27405
62 SBC591 800478109 SCOTT RYAN K 882 WOOD ST OGDEN UT 84404
62 SBC591 800483737 LEE STEPHEN B 4860 SOUTH 4050 WEST ROY UT 84067
62 SBC591 800485765 MENA JUAN 89 ELYCROFT RUTHERFORD NJ 07070
62 SUPER ARM 800279390 O'DONNELL WILLIAM L 3 SETON PLACE EMMITTSBURG MD 21727
62 SUPER ARM 800289506 TOMARO PETER 295 CHESTNUT ST BOUND BROOK NJ 08805
62 SUPER ARM 800296725 PEPLOWSKI CHARLES W JR 43 EAST HIGHLAND DRIVE ALBANY NY 12203
62 SUPER ARM 800310021 MYRTETUS STEPHEN B 4702 DANIEL LANE VOORHEES NJ 08043
62 SUPER ARM 800352718 KAIN SIDNEY ALLEN 5816 NYS RT 56 HANNAWA FALLS NY 13647
62 SUPER ARM 800372062 MANALASTAS ALBERTO A 6615 192ND PLACE SOUTHWEST LYNNWOOD WA 98036
62 SUPER ARM 800373821 SMITH BLOSSOM 169 MARGUERITE AVENUE SOUTH FLORAL PARK NY 11001
62 SUPER ARM 800374738 HALBERT KELLY M 10762 109TH LANE NORTH LARGO FL 33778
62 SUPER ARM 800380396 BITETTO LEONARD N. 89 CENTERPORT RD CENTERPORT NY 11724
62 SUPER ARM 800390817 MANNING EVALET 746 WILTSHIRE ROAD FAYETTEVILLE NC 28314
62 SUPER ARM 800393233 ROHRBACHER LOLITA E. 4625 LEE BOULEVARD LEHIGH ACRES FL 33971
62 SUPER ARM 800399230 COLIN ORELA 876 SOUTHWEST 80TH AVENUE NORTH LAUDERDALE FL 33068
62 SUPER ARM 800407645 SANCHEZ ALFREDO JR 923 EAST 1275 NORTH STREET OGDEN UT 84404
<CAPTION>
Principal Cut-off Date First Initial Minimum Maximum
Balance at Principal Payment Maturity Mortgage Mortgage Mortgage Gross
Pool ID Sale ID Account Origination Balance Date Date Rate Rate Rate Margin
- ----------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
62 SBC584 800452880 184,500.00 183,958.32 09/01/97 08/01/27 11.250 10.250 17.250 6.500
62 SBC584 800452898 117,000.00 117,000.00 01/01/98 12/01/27 10.875 9.875 16.875 6.500
62 SBC584 800453151 105,000.00 105,000.00 12/01/97 11/01/27 10.625 9.625 16.625 7.050
62 SBC584 800455123 128,000.00 128,000.00 01/01/98 12/01/27 9.125 8.125 15.125 5.000
62 SBC584 800457186 73,950.00 73,950.00 01/01/98 12/01/27 8.375 7.375 14.375 4.500
62 SBC584 800457806 153,000.00 152,901.73 11/01/97 10/01/27 11.500 10.500 17.500 7.200
62 SBC585 800322091 182,000.00 181,915.09 11/01/97 10/01/27 9.750 8.750 15.750 5.250
62 SBC585 800347718 126,000.00 125,938.02 12/01/97 11/01/27 9.500 9.500 15.500 5.750
62 SBC585 800351801 45,050.00 45,050.00 12/01/97 11/01/27 11.625 10.625 17.625 7.300
62 SBC585 800360216 209,700.00 209,612.06 11/01/97 10/01/27 10.250 10.250 16.250 6.800
62 SBC585 800373318 81,600.00 81,569.27 11/01/97 10/01/27 10.750 10.750 16.750 7.300
62 SBC585 800389884 50,300.00 50,300.00 12/01/97 11/01/27 8.875 7.875 14.875 4.500
62 SBC585 800391690 92,000.00 91,954.74 11/01/97 10/01/27 9.500 9.500 15.500 6.050
62 SBC585 800403081 72,250.00 72,250.00 12/01/97 11/01/27 10.125 9.125 16.125 5.750
62 SBC585 800424152 42,400.00 42,400.00 12/17/97 11/17/27 10.625 9.625 16.625 5.750
62 SBC585 800437048 67,500.00 67,500.00 01/01/98 12/01/27 10.375 9.375 16.375 6.250
62 SBC585 800441032 131,000.00 131,000.00 01/01/98 12/01/27 10.125 9.125 16.125 6.000
62 SBC585 800447377 33,000.00 33,000.00 01/01/98 12/01/27 10.625 9.625 16.625 5.500
62 SBC585 800449019 83,300.00 83,300.00 12/01/97 11/01/27 11.000 10.000 17.000 6.250
62 SBC585 800462277 95,200.00 95,200.00 01/01/98 12/01/27 10.875 9.875 16.875 6.800
62 SBC591 800347411 72,000.00 71,965.50 11/01/97 10/01/27 9.625 8.625 15.625 5.625
62 SBC591 800360455 101,600.00 101,600.00 01/01/98 12/01/27 11.750 10.750 17.750 7.000
62 SBC591 800387847 34,825.00 34,825.00 12/01/97 11/01/27 8.500 7.500 14.500 3.750
62 SBC591 800389959 36,000.00 36,000.00 01/01/98 12/01/27 12.125 11.125 18.125 7.250
62 SBC591 800396764 92,800.00 92,800.00 12/01/97 11/01/27 10.000 9.000 16.000 6.000
62 SBC591 800398752 111,185.00 111,185.00 12/01/97 11/01/27 8.875 7.875 14.875 5.750
62 SBC591 800401804 75,600.00 75,600.00 12/01/97 11/01/27 10.000 10.000 16.000 6.450
62 SBC591 800405896 161,500.00 161,500.00 01/01/98 12/01/27 11.875 10.875 17.875 7.800
62 SBC591 800409674 124,600.00 124,600.00 01/01/98 12/01/27 10.750 9.750 16.750 6.900
62 SBC591 800415325 161,995.00 161,995.00 01/01/98 12/01/27 10.750 9.750 16.750 6.550
62 SBC591 800418725 100,300.00 100,300.00 01/01/98 12/01/27 11.500 10.500 17.500 6.950
62 SBC591 800426173 135,000.00 135,000.00 12/01/97 11/01/27 10.000 10.000 16.000 6.950
62 SBC591 800434706 135,000.00 135,000.00 12/01/97 11/01/27 11.125 10.125 17.125 7.300
62 SBC591 800435927 40,000.00 40,000.00 01/01/98 12/01/27 11.750 10.750 17.750 7.400
62 SBC591 800446817 98,515.00 98,515.00 01/01/98 12/01/27 11.875 10.875 17.875 7.800
62 SBC591 800447286 58,500.00 58,500.00 12/01/97 11/01/27 10.750 9.750 16.750 6.550
62 SBC591 800450280 135,900.00 135,900.00 12/01/97 11/01/27 9.500 9.500 15.500 6.550
62 SBC591 800460396 182,750.00 182,750.00 01/01/98 12/01/27 9.750 8.750 15.750 6.750
62 SBC591 800461337 144,400.00 144,400.00 01/01/98 12/01/27 11.875 10.875 17.875 7.800
62 SBC591 800465544 57,600.00 57,600.00 01/01/98 12/01/27 10.375 9.375 16.375 6.250
62 SBC591 800475543 57,800.00 57,800.00 01/01/98 12/01/27 10.000 10.000 16.000 6.250
62 SBC591 800478109 92,000.00 92,000.00 01/01/98 12/01/27 8.125 7.125 14.125 5.000
62 SBC591 800483737 114,300.00 114,300.00 01/01/98 12/01/27 9.375 8.375 15.375 6.250
62 SBC591 800485765 170,000.00 169,930.23 11/01/97 10/01/27 10.375 10.375 16.375 6.850
62 SUPER ARM 800279390 76,500.00 76,407.50 11/01/97 10/01/27 10.000 9.000 16.000 5.550
62 SUPER ARM 800289506 110,400.00 110,368.41 11/01/97 10/01/27 12.000 11.000 18.000 7.700
62 SUPER ARM 800296725 80,300.00 80,262.54 11/01/97 10/01/27 9.750 8.750 15.750 4.950
62 SUPER ARM 800310021 50,900.00 50,900.00 12/01/97 11/01/27 11.625 10.625 17.625 7.200
62 SUPER ARM 800352718 65,000.00 65,000.00 01/01/98 12/01/27 10.375 9.375 16.375 5.750
62 SUPER ARM 800372062 153,000.00 153,000.00 12/01/97 11/01/27 10.875 9.875 16.875 7.000
62 SUPER ARM 800373821 177,600.00 177,600.00 12/01/97 11/01/27 10.625 9.625 16.625 6.550
62 SUPER ARM 800374738 64,000.00 63,975.25 11/01/97 10/01/27 10.625 9.625 16.625 5.750
62 SUPER ARM 800380396 195,500.00 195,439.22 11/01/97 10/01/27 11.625 10.625 17.625 7.000
62 SUPER ARM 800390817 55,250.00 55,250.00 01/01/98 12/01/27 11.000 10.000 17.000 6.250
62 SUPER ARM 800393233 120,000.00 120,000.00 01/01/98 12/01/27 12.375 11.375 18.375 7.500
62 SUPER ARM 800399230 66,400.00 66,400.00 01/01/98 12/01/27 9.875 8.875 15.875 5.250
62 SUPER ARM 800407645 103,700.00 103,700.00 12/01/97 11/01/27 10.250 9.250 16.250 6.750
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
Alliance Funding Sale Schedule A - Group 2, Sub-Pool III Page 7 - 12 12/17/97
A division of Superior Bank FSB 1997-4 Class 2 - Initial Pool of Adjustable Rate Mortgages - Settlement 12/22/97
Zip
Pool ID Sale ID Account Name Address City State Code
- ------------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C>
62 SUPER ARM 800413940 GUSTAVSEN LISA 91 BURBANK AVENUE STATEN ISLAND NY 10306
62 SUPER ARM 800425761 ROYE LINDA 1 LILAC LANE PORT JEFFERSON STA NY 11776
62 SUPER ARM 800440653 PATTON SCOTT C 279 LYNCH HILL ROAD MONTVILLE CT 06353
62 SUPER ARM 800441453 KEIM THERESA 884 FRONT STREET WHITEHALL PA 18052
------------------------------------------
244 Sale Total
344 Grand Total Sub-Pool III
<CAPTION>
Principal Cut-off Date First Initial Minimum Maximum
Balance at Principal Payment Maturity Mortgage Mortgage Mortgage Gross
Pool ID Sale ID Account Origination Balance Date Date Rate Rate Rate Margin
- ----------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
62 SUPER ARM 800413940 124,850.00 124,774.36 12/01/97 11/01/27 8.500 7.500 14.500 4.250
62 SUPER ARM 800425761 95,000.00 95,000.00 01/01/98 12/01/27 10.750 9.750 16.750 6.000
62 SUPER ARM 800440653 106,250.00 106,250.00 01/01/98 12/01/27 12.125 11.125 18.125 7.650
62 SUPER ARM 800441453 69,700.00 69,700.00 12/01/97 11/01/27 10.875 9.875 16.875 6.500
------------- ------------------------------ ----------------------------------------
244 24,666,405.00 24,580,911.55 10.103 9.022 16.103 5.983
344 34,586,852.00 34,497,963.28 19.530 17.608 30.967 11.630
</TABLE>
<PAGE>
EXHIBIT H-4
MORTGAGE LOAN SCHEDULE FOR SUB-POOL IV
-3-
<PAGE>
<TABLE>
<CAPTION>
Alliance Funding Sale Schedule A - Group 2, Sub-Pool IV Page 1 12/17/97
A division of Superior Bank FSB 1997-4 Class 2 - Initial Pool of Adjustable Rate Mortgages - Settlement 12/22/97
Zip
Pool ID Sale ID Account Name Address City State Code
- ------------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C>
59 MLC170 180147027 SULLIVAN JAMES T 29 WIGHTMAN RD TEWKSBURY MA 01876
59 MLC170 800239303 JAWAHAR HENRY 22 SUMMIT COURT PLAINVIEW NY 11803
59 MLC170 800267668 KORAP STANLEY 90 BISER ROAD FLEMINGTON NJ 08822
59 MLC170 800269300 COOKSEY CARMELITA RD #1 BOX 434 SPRINGER RD SCOTTDALE PA 15683
59 MLC170 800275802 MARTINS ADRIEL V 99-101 -103 MADISON AVENUE BRIDGEPORT CT 06604
59 MLC170 800288060 YOUNG M RODNEY 320 RUDY DAM ROAD LITITZ PA 17543
59 MLC170 800303299 KUSHNIR ISRAEL 40 ARBUTUS LANE CORAM NY 11727
59 MLC170 800305864 BRUNSON HENRY 474 LESLIE STREET NEWARK NJ 07112
59 MLC170 800307134 FORBES HECTOR 1048 WILLMOHR STREET BROOKLYN NY 11212
59 MLC170 800309122 MAYER WILLIAM R 705 CEDAR AVENUE POINT PLEASANT BEACH NJ 08742
59 MLC170 800310757 DAVIES MICHAEL R 7062 TUCKAHOE ROAD WILLIAMSON NY 14589
59 MLC170 800317885 SMITH MARSHALL G 111 NORTH FILMORE STREET SCRANTON PA 18508
59 MLC170 800319964 JARDINE DIANNE C 143 CASTLE GROVE DRIVE GREECE NY 14612
59 MLC170 800325029 LEONARD WILLIAM A 519 RIVER ROAD GAYLORDSVILLE CT 06755
59 MLC170 800330524 PARIANTE JOHN 6 SHADY TREE DRIVE E STROUDSBURG PA 18301
59 MLC170 800331704 MCCOLLUM RUSSELL I JR 230 MAIN STREET TURBOTVILLE PA 17772
59 MLC170 800333478 JACKSON CAROL 177-27 106TH ROAD JAMAICA NY 11433
59 MLC170 800340804 RADOSTI WINIFRED 3 SNUG HARBOR SUMMERLAND KEY FL 33402
59 MLC170 800341182 DUPLECHAN EUGENE JR 37 MONTANA AVENUE HAMILTON NJ 08610
59 MLC170 800342495 ASANTE AKEEM 4081 WARRIOR TRAIL STONE MOUNTAIN GA 30083
59 MLC170 800343030 ROMANCHIK THOMAS J 237 WEST HOLLAND STREET SUMMIT HILL PA 18250
59 MLC170 800349862 GRODY GARY 85 CRYSTAL COURT HEWLETT NY 11557
59 MLC170 800350431 DIFAZIO SALVATORE P 208 EAST 19TH STREET LONG BEACH NJ 08008
59 MLC170 800352601 SIRICO DOMINICK A. 274 NORTH CLINTON STREET EAST ORANGE NJ 07019
59 MLC170 800352643 MCKENNA PAUL 2 CANAL ROAD PRINCETON NJ 08540
59 MLC170 800353302 SNYDER JOHN 177 FRONT STREET SOUDERTON PA 18964
59 MLC170 800353419 PETERS RICHARD W 2017-2019 MARGARET AVENUE SCRANTON PA 18508
59 MLC170 800353559 WALDNER JOSEPH M 22 OVINGTON AVENUE EDISON NJ 08817
59 MLC170 800359044 EVANS TODD C 33 MANOR LANE WILLINGBORO NJ 08046
59 MLC170 800363509 MCDANIEL JAMES V 613 FRANK CHRISTIAN ROAD DAHLONEGA GA 30533
59 MLC170 800364606 TOIA MICHAEL 981 THORN STREET RAHWAY NJ 07065
59 MLC170 800365710 PERINI DENNIS J 134 JUNIPER STREET CORNWALL PA 17016
59 MLC170 800366114 FAULKNER HOBART 4131 NORTHEAST 24TH AVENUE LIGHTHOUSE POINT FL 33064
59 MLC170 800366163 GOOD JAMES T 20 DANIEL CIRCLE DRIVE LEHIGHTON PA 18235
59 MLC170 800366981 LAVELLE CAROL 25 MCARTHUR AVENUE YONKERS NY 10707
59 MLC170 800370355 BINGAMAN JACK L 213 W MAIN STREET ANNVILE PA 17003
59 MLC170 800372138 DERRICK IVAN 4212 WALNUT STREET PHILADELPHIA PA 19104
59 MLC170 800372898 HEIMACH ELIZABETH ELLEN 1105 NEW YORK AVENUE NORTH WILDWOOD NJ 08260
59 MLC170 800375297 AMBEAULT EDWARD GRANT 3416 EISENHOWER DRIVE HOLIDAY FL 34691
59 MLC170 800386534 NIZAMA ROCIO M 236 JUMPING SPRINGS PLACE HENDERSON NV 89012
59 MLC170 800388191 ZUZO JAMES J 2212 CLEVELAND STREET MCKEESPORT PA 15132
59 MLC170 800388480 ZARAGOZA MARY 8052 SKY BLUE DRIVE ALEXANDRIA VA 22315
59 MLC170 800394256 ADAMS JOSEPH N 5611 SILVER BLUFF COURT PARKER CO 80134
59 MLC170 800394843 MCCARTHY WAYNE J 445 SPRING VALLEY ROAD PARAMUS NJ 07652
59 MLC170 800394959 MARTORELLA CONCHETTA BOX 40 SUMMIT AVENUE POCONO SUMMIT PA 18346
59 MLC170 800395030 CLINE MARILYN W 357 GAINSBOROUGH ROAD VIRGINIA BEACH VA 23462
59 MLC170 800400350 LEVINE LOUIS A 618 FOURTH STREET NEWARK NJ 07107
59 MLC170 800402091 BONNER ELEANOR J 1212 & 1214 E 87TH PLACE LOS ANGELES CA 90002
59 MLC170 800405623 MOYE OTIS B 7 DUCK THURMOND ROAD DAWSONVILLE GA 30534
59 MLC170 800407058 GARDNER DONALD ROBERT 9437 SOUTH 11TH AVENUE PHOENIX AZ 85041
59 MLC170 800407355 DUFF DEIDRE M 2411 SANDFALL COURT ATLANTA GA 30331
59 MLC170 800407546 BRACHE ANTONIO 38 CALDER STREET PROVIDENCE RI 02907
59 MLC170 800408965 FAIRBANKS ROBERT D 8815 MIKE STREET PORT RICHEY FL 34668
59 MLC170 800409120 GILYARD DWAYNE 60-62 WEGMAN PARKWAY JERSEY CITY NJ 07304
59 MLC170 800410508 CRONIN WILLIAM A 9 FINLEY ROAD EDISON NJ 08817
59 MLC170 800413627 TUCKER CECELIA T 6321 BUCKNELL CIRCLE VIRGINIA BEACH VA 23464
59 MLC170 800414286 GADDIS-HUNTE MARY 140 WEST END AVENUE NEWARK NJ 07106
<CAPTION>
Principal Cut-off Date First Initial Minimum Maximum
Balance at Principal Payment Maturity Mortgage Mortgage Mortgage Gross
Pool ID Sale ID Account Origination Balance Date Date Rate Rate Rate Margin
- ------------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
59 MLC170 180147027 105,400.00 105,136.18 06/01/97 05/01/27 10.375 9.375 16.375 6.500
59 MLC170 800239303 222,400.00 222,027.75 08/01/97 07/01/27 11.375 11.375 17.375 7.750
59 MLC170 800267668 116,800.00 116,745.51 11/01/97 10/01/27 9.750 8.750 15.750 5.550
59 MLC170 800269300 46,970.00 46,953.25 11/01/97 10/01/27 11.000 10.000 17.000 6.250
59 MLC170 800275802 123,200.00 123,055.76 09/01/97 08/01/27 10.625 9.625 16.625 6.150
59 MLC170 800288060 245,000.00 244,758.03 11/01/97 10/01/27 9.500 8.500 15.500 5.000
59 MLC170 800303299 95,900.00 95,863.89 11/01/97 10/01/27 10.750 9.750 16.750 5.700
59 MLC170 800305864 128,000.00 127,974.60 11/01/97 10/01/27 13.625 12.625 19.625 8.900
59 MLC170 800307134 177,500.00 177,412.69 11/01/97 10/01/27 9.500 8.500 15.500 4.800
59 MLC170 800309122 409,500.00 409,500.00 12/01/97 11/01/27 9.625 8.625 15.625 5.350
59 MLC170 800310757 55,000.00 54,976.31 11/01/97 10/01/27 10.125 9.125 16.125 5.450
59 MLC170 800317885 49,500.00 49,480.33 11/01/97 10/01/27 10.500 9.500 16.500 5.750
59 MLC170 800319964 38,000.00 38,000.00 12/01/97 11/01/27 11.375 10.375 17.375 6.700
59 MLC170 800325029 143,100.00 143,041.58 12/01/97 11/01/27 10.375 9.375 16.375 6.250
59 MLC170 800330524 195,300.00 195,220.27 11/01/97 10/01/27 10.375 9.375 16.375 6.100
59 MLC170 800331704 58,000.00 57,979.32 11/01/97 10/01/27 11.000 10.000 17.000 6.450
59 MLC170 800333478 100,000.00 99,980.72 11/01/97 10/01/27 13.750 12.750 19.750 8.900
59 MLC170 800340804 108,000.00 108,000.00 12/01/97 11/01/27 11.500 10.500 17.500 6.750
59 MLC170 800341182 115,000.00 115,000.00 12/01/97 11/01/27 9.125 8.125 15.125 4.850
59 MLC170 800342495 106,100.00 106,010.64 11/01/97 10/01/27 10.250 9.250 16.250 5.750
59 MLC170 800343030 56,800.00 56,780.82 11/01/97 10/01/27 11.250 10.250 17.250 7.550
59 MLC170 800349862 380,000.00 380,000.00 12/01/97 11/01/27 11.125 11.125 17.125 7.650
59 MLC170 800350431 156,000.00 155,923.27 11/01/97 10/01/27 9.500 8.500 15.500 5.200
59 MLC170 800352601 110,500.00 110,500.00 12/01/97 11/01/27 11.000 10.000 17.000 6.500
59 MLC170 800352643 241,800.00 241,703.91 11/01/97 10/01/27 10.500 10.500 16.500 7.050
59 MLC170 800353302 144,000.00 144,000.00 12/01/97 11/01/27 11.625 11.625 17.625 8.300
59 MLC170 800353419 80,000.00 80,000.00 12/01/97 11/01/27 11.625 10.625 17.625 7.100
59 MLC170 800353559 102,400.00 102,353.48 12/01/97 11/01/27 9.875 9.875 15.875 6.900
59 MLC170 800359044 101,600.00 101,600.00 12/01/97 11/01/27 12.750 11.750 18.750 8.300
59 MLC170 800363509 51,750.00 51,643.28 11/01/97 10/01/12 12.250 12.250 18.250 8.800
59 MLC170 800364606 113,000.00 112,952.62 12/01/97 11/01/27 10.250 9.250 16.250 6.400
59 MLC170 800365710 157,830.00 157,772.17 12/01/97 11/01/27 10.875 9.875 16.875 6.000
59 MLC170 800366114 416,000.00 415,760.66 11/01/97 10/01/27 8.750 8.750 14.750 5.250
59 MLC170 800366163 64,000.00 63,977.18 11/01/97 10/01/27 11.000 10.000 17.000 6.250
59 MLC170 800366981 297,500.00 297,500.00 12/01/97 11/01/27 11.375 10.375 17.375 7.800
59 MLC170 800370355 56,700.00 56,675.58 11/01/97 10/01/27 10.125 9.125 16.125 5.750
59 MLC170 800372138 115,600.00 115,600.00 12/01/97 11/01/27 10.000 10.000 16.000 6.250
59 MLC170 800372898 40,000.00 40,000.00 12/01/97 11/01/27 13.125 12.125 19.125 7.650
59 MLC170 800375297 49,000.00 49,000.00 12/01/97 11/01/27 11.875 10.875 17.875 7.000
59 MLC170 800386534 158,850.00 158,850.00 12/01/97 11/01/27 10.875 9.875 16.875 6.750
59 MLC170 800388191 42,400.00 42,400.00 12/01/97 11/01/27 12.750 11.750 18.750 7.500
59 MLC170 800388480 144,450.00 144,321.67 11/01/97 10/01/27 10.000 9.000 16.000 5.000
59 MLC170 800394256 370,000.00 370,000.00 12/01/97 11/01/27 6.875 6.875 12.875 4.250
59 MLC170 800394843 120,000.00 120,000.00 12/01/97 11/01/27 10.375 10.375 16.375 6.900
59 MLC170 800394959 165,000.00 164,927.01 12/01/97 11/01/27 10.000 9.000 16.000 5.000
59 MLC170 800395030 89,675.00 89,644.72 12/01/97 11/01/27 11.250 10.250 17.250 7.300
59 MLC170 800400350 110,600.00 110,600.00 12/01/97 11/01/27 10.125 10.125 16.125 6.900
59 MLC170 800402091 153,000.00 153,000.00 12/01/97 11/01/27 10.125 9.125 16.125 6.250
59 MLC170 800405623 63,750.00 63,750.00 12/01/97 11/01/17 11.250 11.250 17.250 8.300
59 MLC170 800407058 19,600.00 19,600.00 12/01/97 11/01/12 13.375 12.375 19.375 9.150
59 MLC170 800407355 103,400.00 103,400.00 12/01/97 11/01/27 10.500 9.500 16.500 6.600
59 MLC170 800407546 56,000.00 56,000.00 12/01/97 11/01/27 12.125 11.125 18.125 7.500
59 MLC170 800408965 56,100.00 56,100.00 12/01/97 11/01/17 11.500 10.500 17.500 6.000
59 MLC170 800409120 89,600.00 89,576.41 11/01/97 10/01/27 12.375 12.375 18.375 8.900
59 MLC170 800410508 98,800.00 98,800.00 12/01/97 11/01/27 11.750 11.750 17.750 8.300
59 MLC170 800413627 106,250.00 106,250.00 12/01/97 11/01/27 10.250 9.250 16.250 5.750
59 MLC170 800414286 88,000.00 88,000.00 12/01/97 11/01/27 13.750 12.750 19.750 9.400
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
Alliance Funding Sale Schedule A - Group 2, Sub-Pool IV Page 2 12/17/97
A division of Superior Bank FSB 1997-4 Class 2 - Initial Pool of Adjustable Rate Mortgages - Settlement 12/22/97
Zip
Pool ID Sale ID Account Name Address City State Code
- ------------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C>
59 MLC170 800418378 MATTHEWS ROBERT T 250 GROVE ROAD RED LION PA 17356
59 MLC170 800421240 LOFFIO DANIEL E LOT 5 MOUNT LAUREL ESTATES EFFORT PA 18330
59 MLC170 800422347 HARRIS WILLIAM C 4920 8TH AVENUE SOUTHWEST NAPLES FL 34119
59 MLC170 800425274 KING MAUREEN A 6099 102ND AVENUE NORTH PINELLAS PARK FL 33782
59 MLC170 800427692 FORSYTHE VIOLET 5885 99TH TERRACE NORTH PINELLAS PARK FL 33782
59 MLC170 800427932 WAY DONALD R 15426 25TH AVENUE EAST TACOMA WA 98445
59 MLC170 800428310 MUSARRA LINDA 6402 19TH AVENUE BROOKLYN NY 11204
59 MLC170 800428807 ADEL STEVEN W 62 BLACK ROCK TERRACE ROAD YARDLEY PA 19067
59 MLC170 800429326 KATZENMOYER GREG 300 EAST MEREDITH STREET MARSHALL TX 75670
59 MLC170 800430282 HOUSTON JUNE H 4683 LAKE CIRCLE FOREST PARK GA 30050
59 MLC172 800200933 RODRIGUEZ JUAN R 3845 ROBERT AVENUE CLEVELAND OH 44109
59 MLC172 800220626 MEDICH THOMAS P RR2 BOX 146 DINGSMAN FERRY PA 18328
59 MLC172 800242414 RICHARDS JAMES R JR 712 EDGEBROOK DRIVE MOOSIC PA 18507
59 MLC172 800254583 ROMBOLETTI RICHARD J 4 KEEFE AVENUE HOLYOKE MA 01040
59 MLC172 800273781 WILLIAMS STEVEN A 2509 LLOYD COURT NORTH BELLMORE NY 11710
59 MLC172 800274011 GRIECO FRANCES 563 BRITTON AVE STATEN ISLAND NY 10304
59 MLC172 800278327 SPRIGGS LOU 805 SIXTH AVENUE MCKEES ROCKS PA 15136
59 MLC172 800283111 HUMASON ANDREA L 20 22 STATE ST CHICOPEE MA 01013
59 MLC172 800284572 ECHON DAVID 1815 ROOSEVELT STREET DUNMORE PA 18512
59 MLC172 800286916 LUCKENBILL SCOTT J 359 LUCKENBILL ROAD SCHUYKILL HAVEN PA 17972
59 MLC172 800287435 SCHMOOCK RAYMOND J 15 BEACH DRIVE CARMEL NY 10512
59 MLC172 800288193 BAIO JOSEPH 31 PRICE STREET KINGSTON PA 18704
59 MLC172 800293292 THOMSEN MICHELLE 20 OLD RILEY RD NEW WINDSOR NY 12553
59 MLC172 800296659 MCALONEY CHARLES A 19 FENWICK STREET SCHENECTADY NY 12304
59 MLC172 800304644 SWEENEY ROBERT P 1044 N 4TH STREET READING PA 19601
59 MLC172 800308512 STAMM JAMES 38 E WYOMISSING AVENUE MOHNTON PA 19540
59 MLC172 800314692 PADULA WILLIAM P 1119 STAFFORD AVENUE SCRANTON PA 18501
59 MLC172 800317133 CAMPELLONE DIANE L 2 RANDOLPH DRIVE SICKLERVILLE NJ 08081
59 MLC172 800322760 SCHUMACHER PAUL E III 257 WAKELEE AVENUE ANSONIA CT 06401
59 MLC172 800323164 KOHNEN DYANE 1601 ENGLISH OAK STREET LAS VEGAS NV 89117
59 MLC172 800324220 KETCHUM MARVIN 2550 PALMETTO BLVD SANFORD FL 32772
59 MLC172 800325334 MOYER RANDY L 403 MAIN STREET FREEMANSBURG PA 18017
59 MLC172 800326688 NAPOLI ROCKY 20 FLORIDA AVENUE COMMACK NY 11725
59 MLC172 800327058 MYERS JOSEPH E 23 EAST ELM STREET HAZLETON PA 18201
59 MLC172 800329815 PRESLAR WESLEY M 83-85 KAREN STREET FAIRFIELD CT 06430
59 MLC172 800331365 CROOKSTON FRANK C 528 TENTH STREET IRWIN PA 15642
59 MLC172 800332223 VARNADOE TONDRA 5285 WOODSTONE CIRCLE WEST LAKE WORTH FL 33463
59 MLC172 800332306 CURRAN P DAVID RD #1 BOX 330 BROGUE PA 17309
59 MLC172 800332736 STEEN JAMES 6 LAKEVIEW DRIVE SOUTH TOMS RIVER NJ 08757
59 MLC172 800333411 DADDATO WILLIAM V 1410 WINTER COURT EFFORT PA 18330
59 MLC172 800335325 OPPENHEIM ARTHUR 14 JOMARR PLACE MASSAPEQUA NY 11758
59 MLC172 800336653 SAYLOR DONALD F JR 2033 PENNSYLVANIA AVENUE ALLENTOWN PA 18103
59 MLC172 800339939 PIERRO JOHN A 251 DONALDS ROAD EFFORT PA 18330
59 MLC172 800340085 DAVIS ARLITHA M 701 LOCUST STREET HIGH POINT NC 27260
59 MLC172 800341976 PEREZ JOSE 333 BREWSTER HILL ROAD BREWSTER NY 10509
59 MLC172 800343600 GRECO ANTHONY J SR 631 CONGRESS AVENUE WATERBURY CT 06708
59 MLC172 800344780 HAIGOOD-ASHE WENDY V 1823 NORTH 2ND STREET HARRISBURG PA 17102
59 MLC172 800347296 JALLAH PETRINA V 237 SANFORD ROAD UPPER DARBY TWP PA 19082
59 MLC172 800348641 CURRY JOSEPH R 8 ETON DRIVE NORTH CALDWELL NJ 07006
59 MLC172 800354722 MCGARTY STEPHEN F 22 STARLING ROAD KENDALL PARK NJ 08824
59 MLC172 800355653 GARDNER CINDEE D 125 GILDA AVENUE PITTSBURGH PA 15217
59 MLC172 800355901 BOYER EDWARD T 504 NORTH ENOLA DRIVE ENOLA PA 17025
59 MLC172 800359168 LOWERY MARILYN R 1202 N 16TH STREET HARRISBURG PA 17103
59 MLC172 800360489 ALLEN PATRICK R 2735 QUIET HOLLOW COURT NEW PORT RICHEY FL 34655
59 MLC172 800360588 DELLISOLA LINDA 142 LITCHFIELD AVENUE BABYLON NY 11702
59 MLC172 800361263 MALONEY TIMOTHY R 1221 FULTON STREET SCRANTON PA 18504
59 MLC172 800363830 VELEZ RUBEN 229 NORTH 4TH STREET ALLENTOWN PA 18102
<CAPTION>
Principal Cut-off Date First Initial Minimum Maximum
Balance at Principal Payment Maturity Mortgage Mortgage Mortgage Gross
Pool ID Sale ID Account Origination Balance Date Date Rate Rate Rate Margin
- ------------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
59 MLC170 800418378 68,000.00 68,000.00 12/01/97 11/01/27 9.250 8.250 15.250 5.000
59 MLC170 800421240 153,000.00 153,000.00 12/01/97 11/01/27 11.500 10.500 17.500 6.950
59 MLC170 800422347 189,600.00 189,600.00 12/01/97 11/01/27 9.125 8.125 15.125 5.500
59 MLC170 800425274 46,350.00 46,350.00 12/01/97 11/01/17 10.000 9.000 16.000 7.000
59 MLC170 800427692 54,500.00 54,500.00 12/01/97 11/01/27 12.125 11.125 18.125 7.500
59 MLC170 800427932 84,000.00 84,000.00 12/01/97 11/01/27 12.375 11.375 18.375 7.750
59 MLC170 800428310 200,000.00 200,000.00 12/01/97 11/01/27 10.625 10.625 16.625 7.400
59 MLC170 800428807 240,000.00 239,728.76 08/01/97 07/01/27 12.125 12.125 18.125 8.500
59 MLC170 800429326 24,300.00 24,300.00 12/01/97 11/01/27 8.500 8.500 14.500 5.500
59 MLC170 800430282 44,000.00 43,984.74 12/01/97 11/01/27 11.125 10.125 17.125 7.300
59 MLC172 800200933 53,550.00 53,486.07 08/01/97 07/01/27 11.875 10.875 17.875 7.000
59 MLC172 800220626 90,000.00 89,943.76 10/01/97 09/01/27 11.625 10.625 17.625 7.300
59 MLC172 800242414 80,000.00 79,930.58 10/01/97 09/01/27 10.125 9.125 16.125 5.550
59 MLC172 800254583 92,720.00 92,633.13 10/01/97 09/01/27 9.750 8.750 15.750 5.500
59 MLC172 800273781 207,200.00 207,122.00 11/01/97 10/01/27 10.750 9.750 16.750 6.400
59 MLC172 800274011 120,000.00 119,943.26 11/01/97 10/01/27 12.875 11.875 18.875 8.400
59 MLC172 800278327 45,900.00 45,867.99 11/01/97 10/01/27 11.125 10.125 17.125 6.500
59 MLC172 800283111 72,250.00 72,208.43 10/01/97 09/01/27 12.000 11.000 18.000 7.500
59 MLC172 800284572 56,000.00 55,952.82 11/01/97 10/01/27 10.250 9.250 16.250 6.050
59 MLC172 800286916 56,000.00 55,988.56 11/01/97 10/01/27 13.500 12.500 19.500 8.550
59 MLC172 800287435 80,000.00 79,960.65 11/01/97 10/01/27 9.500 8.500 15.500 4.750
59 MLC172 800288193 37,600.00 37,589.54 11/01/97 10/01/27 12.125 12.125 18.125 8.550
59 MLC172 800293292 59,400.00 59,383.00 11/01/97 10/01/27 12.000 11.000 18.000 7.200
59 MLC172 800296659 16,745.00 16,733.74 11/01/97 10/01/27 11.875 10.875 17.875 6.950
59 MLC172 800304644 39,000.00 38,984.50 11/01/97 10/01/27 10.500 9.500 16.500 6.300
59 MLC172 800308512 63,900.00 63,900.00 12/01/97 11/01/27 9.750 8.750 15.750 5.750
59 MLC172 800314692 25,500.00 25,500.00 12/01/97 11/01/27 9.625 8.625 15.625 5.000
59 MLC172 800317133 167,300.00 167,189.56 10/01/97 09/01/27 11.375 10.375 17.375 7.150
59 MLC172 800322760 123,250.00 123,218.46 11/01/97 10/01/27 12.500 11.500 18.500 8.050
59 MLC172 800323164 444,399.00 444,399.00 12/01/97 11/01/27 10.375 9.375 16.375 6.500
59 MLC172 800324220 39,920.00 39,912.08 11/01/97 10/01/27 13.625 12.625 19.625 8.900
59 MLC172 800325334 96,000.00 95,861.70 11/01/97 10/01/27 13.625 12.625 19.625 8.900
59 MLC172 800326688 151,200.00 151,200.00 12/01/97 11/01/27 10.125 9.125 16.125 6.250
59 MLC172 800327058 23,375.00 23,375.00 12/01/97 11/01/27 10.875 9.875 16.875 6.250
59 MLC172 800329815 195,500.00 195,428.37 11/01/97 10/01/27 10.875 9.875 16.875 6.250
59 MLC172 800331365 52,000.00 52,000.00 12/01/97 11/01/27 12.000 11.000 18.000 7.250
59 MLC172 800332223 91,800.00 91,800.00 12/01/97 11/01/27 10.250 9.250 16.250 5.750
59 MLC172 800332306 92,000.00 91,972.17 11/01/97 10/01/27 11.750 10.750 17.750 7.550
59 MLC172 800332736 77,600.00 77,600.00 12/01/97 11/01/27 12.375 11.375 18.375 8.000
59 MLC172 800333411 122,500.00 122,442.85 12/01/97 11/01/27 9.750 8.750 15.750 5.250
59 MLC172 800335325 140,000.00 139,917.23 11/01/97 10/01/27 11.875 11.875 17.875 8.550
59 MLC172 800336653 88,000.00 87,791.67 11/01/97 10/01/27 8.750 7.750 14.750 4.100
59 MLC172 800339939 61,875.00 61,875.00 12/01/97 11/01/27 11.250 10.250 17.250 6.000
59 MLC172 800340085 69,955.00 69,955.00 12/01/97 11/01/27 10.375 9.375 16.375 6.250
59 MLC172 800341976 140,250.00 140,250.00 12/01/97 11/01/27 10.875 9.875 16.875 6.500
59 MLC172 800343600 69,700.00 69,676.47 11/01/97 10/01/27 11.250 10.250 17.250 6.900
59 MLC172 800344780 40,680.00 40,656.60 11/01/97 10/01/27 8.750 8.750 14.750 5.350
59 MLC172 800347296 42,500.00 42,486.41 11/01/97 10/01/27 11.500 10.500 17.500 7.250
59 MLC172 800348641 139,000.00 138,936.85 11/01/97 10/01/27 9.875 8.875 15.875 5.600
59 MLC172 800354722 116,500.00 116,500.00 12/01/97 11/01/27 10.375 10.375 16.375 6.900
59 MLC172 800355653 236,000.00 235,880.82 12/01/97 11/01/27 9.375 8.375 15.375 5.500
59 MLC172 800355901 25,000.00 24,991.79 11/01/97 10/01/27 11.375 10.375 17.375 6.550
59 MLC172 800359168 38,250.00 38,221.83 11/01/97 10/01/27 10.875 9.875 16.875 6.450
59 MLC172 800360489 97,200.00 97,149.61 12/01/97 11/01/27 9.250 8.250 15.250 5.250
59 MLC172 800360588 124,950.00 124,893.23 12/01/97 11/01/27 9.875 8.875 15.875 5.550
59 MLC172 800361263 40,290.00 40,290.00 12/01/97 11/01/27 11.000 10.000 17.000 6.250
59 MLC172 800363830 63,000.00 62,961.83 12/01/97 11/01/27 8.500 8.500 14.500 5.000
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
Alliance Funding Sale Schedule A - Group 2, Sub-Pool IV Page 3 12/17/97
A division of Superior Bank FSB 1997-4 Class 2 - Initial Pool of Adjustable Rate Mortgages - Settlement 12/22/97
Zip
Pool ID Sale ID Account Name Address City State Code
- ------------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C>
59 MLC172 800364721 BROWN JOAN 239-241 BEECHMONT AVENUE BRIDGEPORT CT 06606
59 MLC172 800364788 FEICHTINGER FRANZ J 9833 E DESERT COVE AVE SCOTTSDALE AZ 85260
59 MLC172 800364952 EVANS ALFUQUAN R 204-206 SOUTH GROVE STREET EAST ORANGE NJ 07003
59 MLC172 800365660 PRICKLER ROBERT W 143 E SOUTH STREET ALLENTOWN PA 18103
59 MLC172 800367419 ECCLES KEITH S 9624 SOUTH KILMUIR CIRCLE SOUTH JORDAN UT 84095
59 MLC172 800368334 ALSTON NINA 103 WEST YAPHANK ROAD CORAM NY 11727
59 MLC172 800370694 SEAY DARLENE B LOT 54 KENT DRIVE MILLSBORO DE 19966
59 MLC172 800373466 NEWLON GREIGG W 5020 WALKING HORSE PLACE COLORADO SPRINGS CO 80917
59 MLC172 800373847 PARLOW CHARLES P 120 WEST AVON ROAD FARMINGTON CT 06085
59 MLC172 800376923 DILEONARDO FRANCESCO 171 EVANS AVENUE ELMONT NY 11003
59 MLC172 800379760 MASTROBERTI HOWARD A 31 WOLCOTT AVENUE TORRINGTON CT 06790
59 MLC172 800380370 CORRIGAN ERIC M 138 ATHENS STREET #2 SOUTH BOSTON MA 02127
59 MLC172 800381295 LEYDEN EDWARD M 5299 OLIVET DRIVE RIDGE MANOR FL 33523
59 MLC172 800381840 SEDGWICK WILLIAM C III 2511 HELEN DRIVE WEST NORTHFIELD NJ 08225
59 MLC172 800384810 ACUFF GREGORY M 670 COVEGLEN COURT COLORADO SPRINGS CO 80906
59 MLC172 800385452 MAMANE ABDOU 263 KOSCIUSKO STREET BROOKLYN NY 11221
59 MLC172 800385932 ROCHESTER VINCENT A 432 PAGE TERRACE SOUTH ORANGE NJ 07079
59 MLC172 800386864 BOYER BARRY R 27 LAFAYETTE STREET ENFIELD CT 06082
59 MLC172 800387250 SPENCER MATTHEW 2-4 BEDFORD TERRACE IRVINGTON NJ 07111
59 MLC172 800387797 ARNOLD ELMER W 208 ATLANTIC AVENUE WEST PITTSTON PA 18643
59 MLC172 800387946 ALSTON BOBBY JOE 809 DALEVIEW PLACE GREENSBORO NC 27406
59 MLC172 800388241 KEEL WILLIAM H RTE 1 BOX 188 A LITTLE HOCKING OH 45742
59 MLC172 800389108 STEVENSON JAMES D 224 SANDY PEACH LANE LEXINGTON SC 29123
59 MLC172 800390460 BASS MISHA W. 3411 FOX RIDGE BOULEVARD ZEPHRYHILLS FL 33543
59 MLC172 800394504 DANIEL ETHELBERT E 4 KUDYBA COURT MANALAPAN NJ 07726
59 MLC172 800396608 HUGHES CARL A 0 LAKE ROAD SAYLORSBURG PA 18353
59 MLC172 800399560 ALBERT KEVIN A 121 NORTH WALNUT STREET COLORADO SPRINGS CO 80905
59 MLC172 800399990 MOORE SHAWN 33721 53RD AVENUE SOUTH AUBURN WA 98001
59 MLC172 800400616 MILLER ROBERT S 8860 N SILVER SPUR RD PARK CITY UT 84098
59 MLC172 800403818 MCCUSKER CHARLES 714 SOUTH 400 EAST ST SALT LAKE CITY UT 84111
59 MLC172 800403834 TRABACCONE MARILYN M 7264 NORTH BUCKBOARD DRIVE PARK CITY UT 84098
59 MLC172 800404808 LENZ MICHAEL 408 MONROE STREET HOBOKEN NJ 07030
59 MLC172 800404873 COOPER BARBARA D 2865 GLENCOE STREET DENVER CO 80207
59 MLC172 800417180 OGLETREE SALLIE M 32 PINE DRIVE MCDONOUGH GA 30252
------------------------------------------
148 Sale Total
60 CPI1 55251 PRZYBYLA ROBERT H 777 E DIVISION ST LOMBARD IL 60148
60 CPI1 58313 HANSEN MARVIN M 1236 IRVING AVENUE BERKELEY IL 60163
60 CPI1 59998 BERRY DAVID C 533 S LEWIS AVENUE LOMBARD IL 60148
60 CPI1 60145 CLANCY MAUREEN 1445 W GREGORY STREET CHICAGO IL 60640
60 CPI1 60301 SLUKA GEORGINA 5010 W AINSLIE AVENUE CHICAGO IL 60630
60 CPI1 60392 KRUPICKA MARLENE 10813 CLARIDGE STREET WESTCHESTER IL 60154
60 CPI1 60400 FRANKEL RICHARD S 1005 STRATFORD RD DEERFIELD IL 60015
60 CPI1 60533 GEISLER LISA A 100 WILLOW LANE UNIT B220 WILLOW SPRI IL 60480
60 CPI1 60558 RHODES JOEL 10735 5TH AVENUE COUNTRYSIDE IL 60525
60 CPI1 60749 SCHNEEBERGER KARL R 1621 HATCH PLACE DOWNERS GRO IL 60516
60 CPI1 60806 RANGASWAMY KRISHNASWA 123 ANN STREET CLARENDON H IL 60514
60 CPI1 71233 GOODWIN NATALIE 1200 DOGWOOD LANE AURORA IL 60504
60 CPI1 500553 MILTON ROSEMARY 7055 W 63RD ST CHICAGO IL 60638
60 CPI1 501080 SACCO ANTHONY G 212 COLLEN DR LOMBARD IL 60148
60 CPI1 501437 KNITTER WALTER W 303 S PRESIDENT ST WHEATON IL 60187
60 CPI1 503490 CARGERMAN MARK 331 OAKMONT DRIVE DEERFIELD IL 60015
60 CPI1 503656 SHEN ROBERT B 1025 OLD MILL GROVE LN LAKE ZURICH IL 60047
60 CPI1 504225 CONWAY MARK K 324 OLD COUNTRY WAY WAUCONDA IL 60084
60 CPI1 504662 FULTON C EDWARD 210 N SHERIDAN ROAD LAKE FOREST IL 60045
60 CPI1 504811 HILL ERIC S 614 E MADISON ST VILLA PARK IL 60181
60 CPI1 504936 KALOUSDIAN RAFFI 769 W MELROSE STREET CHICAGO IL 60657
<CAPTION>
Principal Cut-off Date First Initial Minimum Maximum
Balance at Principal Payment Maturity Mortgage Mortgage Mortgage Gross
Pool ID Sale ID Account Origination Balance Date Date Rate Rate Rate Margin
- ------------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
59 MLC172 800364721 123,300.00 123,260.59 11/01/97 10/01/27 11.500 10.500 17.500 7.150
59 MLC172 800364788 396,000.00 395,842.63 11/01/97 10/01/27 10.500 9.500 16.500 6.150
59 MLC172 800364952 80,000.00 79,981.18 11/01/97 10/01/27 12.875 11.875 18.875 8.300
59 MLC172 800365660 41,600.00 41,600.00 12/01/97 11/01/27 12.625 11.625 18.625 7.500
59 MLC172 800367419 112,000.00 111,937.21 11/01/97 10/01/27 8.875 7.875 14.875 4.500
59 MLC172 800368334 72,250.00 72,232.02 11/01/97 10/01/27 12.625 11.625 18.625 8.050
59 MLC172 800370694 67,900.00 67,861.94 12/01/97 11/01/27 8.875 7.875 14.875 4.250
59 MLC172 800373466 111,150.00 111,150.00 12/01/97 11/01/27 9.250 9.250 15.250 5.750
59 MLC172 800373847 130,000.00 129,960.69 11/01/97 10/01/27 11.750 11.750 17.750 8.300
59 MLC172 800376923 178,500.00 178,444.51 12/01/97 11/01/27 11.625 10.625 17.625 7.200
59 MLC172 800379760 75,000.00 74,951.83 11/01/97 10/01/27 11.500 10.500 17.500 8.050
59 MLC172 800380370 48,750.00 48,675.38 12/01/97 11/01/27 9.375 9.375 15.375 5.500
59 MLC172 800381295 54,400.00 54,343.13 11/01/97 10/01/17 11.750 10.750 17.750 6.750
59 MLC172 800381840 97,300.00 97,233.99 11/01/97 10/01/27 11.250 10.250 17.250 6.850
59 MLC172 800384810 170,000.00 169,937.71 11/01/97 10/01/27 10.875 9.875 16.875 6.500
59 MLC172 800385452 128,900.00 128,900.00 12/01/97 11/01/27 9.875 8.875 15.875 5.500
59 MLC172 800385932 220,000.00 219,804.53 10/01/97 09/01/27 10.000 10.000 16.000 6.800
59 MLC172 800386864 95,000.00 94,953.27 12/01/97 11/01/27 9.500 8.500 15.500 4.800
59 MLC172 800387250 46,000.00 45,987.20 12/01/97 11/01/27 12.125 12.125 18.125 8.150
59 MLC172 800387797 89,100.00 89,100.00 12/01/97 11/01/27 9.875 8.875 15.875 5.750
59 MLC172 800387946 73,800.00 73,800.00 11/21/97 10/21/27 9.500 9.500 15.500 6.250
59 MLC172 800388241 43,440.00 43,440.00 12/01/97 11/01/12 11.875 10.875 17.875 7.750
59 MLC172 800389108 65,000.00 65,000.00 12/01/97 11/01/17 10.500 9.500 16.500 5.750
59 MLC172 800390460 52,200.00 52,200.00 12/01/97 11/01/17 10.500 10.500 16.500 7.250
59 MLC172 800394504 343,960.00 343,823.31 11/01/97 10/01/27 10.500 9.500 16.500 5.800
59 MLC172 800396608 40,500.00 40,483.47 12/01/97 11/01/27 10.375 9.375 16.375 5.750
59 MLC172 800399560 65,000.00 65,000.00 12/01/97 11/01/27 8.125 7.125 14.125 4.750
59 MLC172 800399990 73,500.00 73,500.00 12/01/97 11/01/17 11.500 10.500 17.500 7.500
59 MLC172 800400616 399,500.00 399,500.00 12/01/97 11/01/27 9.000 9.000 15.000 5.500
59 MLC172 800403818 95,200.00 95,200.00 12/01/97 11/01/27 11.500 10.500 17.500 7.250
59 MLC172 800403834 240,000.00 240,000.00 12/01/97 11/01/27 10.250 10.250 16.250 6.750
59 MLC172 800404808 274,850.00 274,660.85 12/01/97 11/01/27 7.875 7.875 13.875 5.000
59 MLC172 800404873 128,000.00 128,000.00 12/01/97 11/01/27 11.500 10.500 17.500 7.250
59 MLC172 800417180 57,600.00 57,600.00 12/01/97 11/01/27 10.375 9.375 16.375 5.750
--------------------------------------------- ----------------------------------------
148 17,207,834.00 17,201,870.11 10.539 9.829 16.539 6.466
60 CPI1 55251 50,000.00 46,828.85 11/01/92 10/01/22 7.500 0.000 13.500 2.750
60 CPI1 58313 71,000.00 64,033.96 06/01/93 05/01/23 6.625 0.000 12.625 2.875
60 CPI1 59998 88,550.00 84,262.03 11/01/93 10/01/23 6.750 0.000 12.750 2.875
60 CPI1 60145 132,000.00 125,883.33 11/01/93 10/01/23 7.000 0.000 13.000 2.750
60 CPI1 60301 100,000.00 94,935.11 10/01/93 09/01/23 6.625 0.000 12.625 2.750
60 CPI1 60392 45,000.00 42,868.26 11/01/93 10/01/23 6.875 0.000 12.875 2.875
60 CPI1 60400 196,700.00 187,599.71 12/01/93 11/01/23 6.875 0.000 12.875 2.750
60 CPI1 60533 50,000.00 47,628.09 11/01/93 10/01/23 7.000 0.000 13.000 2.750
60 CPI1 60558 61,000.00 58,015.98 10/01/93 09/01/23 6.875 0.000 12.875 2.875
60 CPI1 60749 139,900.00 133,427.22 12/01/93 11/01/23 6.875 0.000 12.875 2.750
60 CPI1 60806 117,000.00 3,233.23 12/01/93 11/01/08 6.875 0.000 12.875 2.875
60 CPI1 71233 120,500.00 116,200.61 09/01/94 08/01/24 7.750 0.000 13.750 2.750
60 CPI1 500553 140,000.00 131,676.85 10/01/92 09/01/22 7.625 0.000 13.625 2.750
60 CPI1 501080 34,400.00 32,507.09 12/01/92 11/01/22 7.375 0.000 13.375 2.750
60 CPI1 501437 104,000.00 98,360.20 12/01/92 11/01/22 7.500 0.000 13.500 2.750
60 CPI1 503490 322,000.00 305,680.90 05/01/93 04/01/23 7.375 0.000 13.375 2.875
60 CPI1 503656 68,000.00 64,549.62 07/01/93 06/01/23 7.000 0.000 13.000 2.750
60 CPI1 504225 152,000.00 144,289.58 08/01/93 07/01/23 6.875 0.000 12.875 2.750
60 CPI1 504662 455,000.00 431,914.61 07/01/93 06/01/23 7.000 0.000 13.000 2.750
60 CPI1 504811 118,200.00 111,548.13 07/01/93 06/01/23 6.625 0.000 12.625 2.750
60 CPI1 504936 220,000.00 209,347.45 11/01/93 10/01/23 6.750 0.000 12.750 2.875
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
Alliance Funding Sale Schedule A - Group 2, Sub-Pool IV Page 4 12/17/97
A division of Superior Bank FSB 1997-4 Class 2 - Initial Pool of Adjustable Rate Mortgages - Settlement 12/22/97
Zip
Pool ID Sale ID Account Name Address City State Code
- ------------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C>
60 CPI1 504944 HUSSELBEE BRIAN JOULES 61 BROOKHILL LANE VERNON HILL IL 60061
60 CPI1 505073 RUBIN ROBERT S 560 JUNEBERRY ROAD RIVERWOODS IL 60015
60 CPI1 505644 REEKS PATRICK J 771 ENGLISH OAKS DR CARY IL 60013
60 CPI1 505693 YESKEY NAOMI 1775 W ALTGELD STREET A CHICAGO IL 60614
60 CPI1 505818 STAPLETON MARK T ON492 ARBOR COURT WINFIELD IL 60190
60 CPI1 505933 MOHL JEFFREY 815 W OAKDALE AVENUE CHICAGO IL 60657
60 CPI1 506014 CAPRARA JAMES A 215 PLUMTREE LANE WEST CHICAG IL 60185
60 CPI1 506113 HAYES PATRICK W 3103 BENNETT DRIVE NAPERVILLE IL 60565
60 CPI1 506170 COHEN ALLEN R 132 SOUTHFIELD DRIVE VERNON HILL IL 60061
60 CPI1 506196 FULTON C EDWARD 50 E BELLEVUE PLACE CHICAGO IL 60611
60 CPI1 506204 FULTON C EDWARD 934 S WAVELAND ROAD LAKE FOREST IL 60045
60 CPI1 506212 FULTON C EDWARD 886 E MORNINGSIDE DRIVE LAKE FOREST IL 60045
60 CPI1 506667 YOUSHAEI KOUROSH T 20 CAMBRIDGE LANE LINCOLNSHIR IL 60069
60 CPI1 506972 RANGEL JOSE A 3234 S HOYNE AVENUE CHICAGO IL 60608
60 CPI1 507004 TIMMERS KATHLEEN M 2632 N WINDSOR DRIVE ARLINGTON H IL 60004
60 CPI1 507061 WOLIN HOWARD E 1032 CHEROKEE ROAD WILMETTE IL 60091
60 CPI1 507079 DOLAN BURTIS J III 2102 GROVE STREET GLENVIEW IL 60025
60 CPI1 507228 FRANKLIN PAUL J 237 CASCADE LANE INDIAN HEAD IL 60525
60 CPI1 507368 FRANKEL PAUL 205 OLD GREEN BAY ROAD GLENCOE IL 60093
60 CPI1 507434 AUGUST HOWARD S 6024 GREEN DRIVE WOODRIDGE IL 60517
60 CPI1 507442 NAATZ CHRISTOPHE C 1736 N WALNUT AVENUE ARLINGTON H IL 60004
60 CPI1 507491 MILLER SCOTT C 14570 MAYLAND DRIVE LINCOLNSHIR IL 60069
60 CPI1 507616 MIPANA JESUS G 2115 S 50TH COURT CICERO IL 60650
60 CPI1 508069 KUJAWA GARY 5037 W WINNEMAC AVENUE CHICAGO IL 60630
60 CPI1 508580 FOROWYCZ ROMAN 1105 S SALEM LANE ARLINGTON H IL 60005
60 SB581 161524442 LINDON TROY A 601 LANDSDOWNE WESTLAND MI 48185
60 SB581 161535869 WRIGHT GREGORY S 4112 MT MORRIS ROAD COLUMBIAVILLE MI 48421
60 SB581 161537493 CAMPBELL ELI H 9758 SOUTH BEVERLY AVENUE CHICAGO IL 60643
60 SB581 161544895 SCHARLACH MICHAEL D 7950 EAST 400 NORTH FREMONT IN 46737
60 SB581 161546510 MALLORY YOLANDA 16002 VINE AVENUE HARVEY IL 60426
60 SB581 161546536 JACKSON ALVIN 7025 SOUTH CHAPPEL CHICAGO IL 60649
60 SB581 161548961 GARRETT ROBERT 6725 SOUTH JEFFERY BLVD CHICAGO IL 60649
60 SB581 161549357 SWEET BRADLEY 18229 RAINBOW FRASER MI 48026
60 SB581 161551429 BARKER PHILLIP LLOYD 8730 SOUTH JEFFERY STREET CHICAGO IL 60617
60 SB581 161553094 FLETCHER BURTON C 351 NATALIE DRIVE WEST CHICAGO IL 60185
60 SB581 161553193 BURNS ROBERT P 3862 N ST LOUIS AVENUE CHICAGO IL 60618
60 SB581 161553797 HASH JOHN 616 EAST HOPKINS AVENUE GRANVILLE IL 61326
60 SB581 161554779 LICK STEVE 4138 NORTH MOODY AVE CHICAGO IL 60634
60 SB581 161554944 BAKER GEORGE B 1722 N PARKER AVENUE INDIANAPOLIS IN 46218
60 SB581 161555800 CZARNECKI WILLIAM A 20 WEST 421 ARMY TRAIL ROA ADDISON IL 60101
60 SB581 161556485 LILEY SHERRY G 4209 CUSTER AVE FLINT MI 48507
60 SB581 161557087 GIROD ANDRE R 8893 FIELDCREST BRIGHTON MI 48116
60 SB581 161557095 COOK TYRONE M 38170 OVERBROOK LANE WESTLAND MI 48185
60 SB581 161557418 LEWIN MAURY 19741 HICKORY LEAF LANE SOUTHFIELD MI 48076
60 SB581 161559208 CURRY RICHARD A 1786 MEADOW DRIVE HOLT MI 48842
60 SB581 161559372 SOMMER DONNA SUE 216 QUEENS LANE THORNTON IL 60476
60 SB581 161560610 SORDI VICTOR E 4670 BURLEIGH ROAD GARFIELD HEIGHTS OH 44125
60 SB581 161560867 WIEGERT JAMES 3355 HEMPTON LAKE ROAD CATO WI 54206
60 SB581 161561543 BENITEZ ARMANDO 2043 WEST HURON CHICAGO IL 60612
60 SB581 161562806 CARTER ANGELYN POWELL 842 WEST 129TH PLACE CHICAGO IL 60643
60 SB581 161563531 ROSS ROBERT 9328 SOUTH VINCENNES CHICAGO IL 60620
60 SB581 161563622 HUFF TRUDY 9150 SOUTH MARSHFIELD CHICAGO IL 60620
60 SB581 161564448 GLADNEY JEFFREY D 511 E 23RD STREET INDIANAPOLIS IN 46205
60 SB581 161565536 RIPULLO KATHLEEN A 23300 EDGEWATER ST CLAIR SHORES MI 48082
60 SB581 161565551 HULIT KENNETH J 1041 E SILVERBELL RD LAKE ORION MI 48360
60 SB581 161566732 MARCUS BRUCE T 760 GROVE STREET GLENCOE IL 60022
60 SB581 161566963 MEADER YVONNE 8516 ROBINDALE DEARBORN HEIGHTS MI 48127
<CAPTION>
Principal Cut-off Date First Initial Minimum Maximum
Balance at Principal Payment Maturity Mortgage Mortgage Mortgage Gross
Pool ID Sale ID Account Origination Balance Date Date Rate Rate Rate Margin
- ------------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
60 CPI1 504944 328,500.00 310,324.94 08/01/93 07/01/23 6.500 0.000 12.500 2.875
60 CPI1 505073 334,500.00 314,797.36 10/01/93 09/01/23 7.125 0.000 13.125 2.750
60 CPI1 505644 147,000.00 140,018.43 08/01/93 07/01/23 7.250 0.000 13.250 2.750
60 CPI1 505693 118,800.00 113,047.46 11/01/93 10/01/23 6.750 0.000 12.750 2.750
60 CPI1 505818 240,000.00 227,305.27 09/01/93 08/01/23 7.000 0.000 13.000 2.750
60 CPI1 505933 472,000.00 449,505.97 11/01/93 10/01/23 6.875 0.000 12.875 2.750
60 CPI1 506014 207,900.00 196,423.18 10/01/93 09/01/23 6.125 0.000 12.125 2.750
60 CPI1 506113 217,000.00 205,822.22 09/01/93 08/01/23 6.875 0.000 12.875 2.750
60 CPI1 506170 150,000.00 138,475.29 11/01/93 10/01/23 6.875 0.000 12.875 2.750
60 CPI1 506196 220,500.00 210,054.92 11/01/93 10/01/23 6.875 0.000 12.875 2.750
60 CPI1 506204 240,300.00 228,879.48 11/01/93 10/01/23 6.875 0.000 12.875 2.750
60 CPI1 506212 280,000.00 266,735.99 11/01/93 10/01/23 6.875 0.000 12.875 2.750
60 CPI1 506667 131,000.00 124,794.42 11/01/93 10/01/23 6.875 0.000 12.875 2.875
60 CPI1 506972 103,500.00 98,371.28 11/01/93 10/01/23 6.750 0.000 12.750 2.750
60 CPI1 507004 60,000.00 57,157.65 11/01/93 10/01/23 6.875 0.000 12.875 2.750
60 CPI1 507061 336,000.00 320,083.35 11/01/93 10/01/23 6.875 0.000 12.875 2.875
60 CPI1 507079 308,000.00 293,086.40 11/01/93 10/01/23 6.750 0.000 12.750 2.875
60 CPI1 507228 125,600.00 119,238.58 11/01/93 10/01/23 6.625 0.000 12.625 2.750
60 CPI1 507368 390,000.00 368,899.54 12/01/93 11/01/23 6.750 0.000 12.750 2.750
60 CPI1 507434 100,000.00 95,157.96 11/01/93 10/01/23 6.750 0.000 12.750 2.750
60 CPI1 507442 133,950.00 126,802.95 12/01/93 11/01/23 6.500 0.000 12.500 2.750
60 CPI1 507491 122,000.00 116,102.59 12/01/93 11/01/23 6.625 0.000 12.625 2.750
60 CPI1 507616 62,400.00 48,562.68 11/01/93 10/01/08 6.750 0.000 12.750 2.750
60 CPI1 508069 95,200.00 90,661.98 12/01/93 11/01/23 6.750 0.000 12.750 2.750
60 CPI1 508580 203,150.00 193,000.20 12/01/93 11/01/23 6.625 0.000 12.625 2.750
60 SB581 161524442 131,700.00 131,576.60 10/01/97 09/01/27 9.750 8.750 15.750 5.150
60 SB581 161535869 103,500.00 103,417.38 11/01/97 10/01/27 10.500 9.500 16.500 5.700
60 SB581 161537493 185,200.00 185,113.60 11/01/97 10/01/27 9.750 8.750 15.750 5.000
60 SB581 161544895 42,000.00 41,985.82 11/01/97 10/01/27 11.250 10.250 17.250 6.000
60 SB581 161546510 63,200.00 63,183.37 11/01/97 10/01/27 12.375 12.375 18.375 8.900
60 SB581 161546536 162,900.00 162,817.74 11/01/97 10/01/27 9.375 8.375 15.375 6.050
60 SB581 161548961 98,000.00 97,953.05 11/01/97 10/01/27 9.625 8.625 15.625 5.000
60 SB581 161549357 114,300.00 114,250.77 11/01/97 10/01/27 10.125 10.125 16.125 6.800
60 SB581 161551429 71,200.00 71,174.62 11/01/97 10/01/27 11.000 11.000 17.000 7.500
60 SB581 161553094 242,200.00 242,200.00 12/01/97 11/01/27 10.625 9.625 16.625 6.250
60 SB581 161553193 135,000.00 135,000.00 12/01/97 11/01/27 10.875 9.875 16.875 6.600
60 SB581 161553797 36,000.00 35,991.29 12/01/97 11/01/27 12.750 11.750 18.750 8.000
60 SB581 161554779 132,750.00 132,694.34 11/01/97 10/01/27 10.250 10.250 16.250 6.800
60 SB581 161554944 20,900.00 20,893.85 11/01/97 10/01/27 11.875 10.875 17.875 6.250
60 SB581 161555800 164,000.00 164,000.00 12/01/97 11/01/27 12.625 11.625 18.625 7.500
60 SB581 161556485 57,600.00 57,600.00 12/01/97 11/01/27 10.500 9.500 16.500 5.700
60 SB581 161557087 120,000.00 120,000.00 12/01/97 11/01/27 13.375 12.375 19.375 8.550
60 SB581 161557095 170,000.00 169,922.77 11/01/97 10/01/27 9.875 8.875 15.875 5.150
60 SB581 161557418 86,000.00 86,000.00 12/01/97 11/01/27 9.125 8.125 15.125 4.500
60 SB581 161559208 107,100.00 107,047.33 12/01/97 11/01/27 9.500 9.500 15.500 6.050
60 SB581 161559372 50,000.00 49,977.88 12/01/97 11/01/27 10.000 10.000 16.000 6.000
60 SB581 161560610 70,000.00 69,971.43 11/01/97 10/01/27 10.375 9.375 16.375 5.750
60 SB581 161560867 178,700.00 178,618.81 12/01/97 11/01/27 9.875 8.875 15.875 6.250
60 SB581 161561543 148,500.00 148,500.00 12/01/97 11/01/27 10.375 9.375 16.375 5.750
60 SB581 161562806 41,200.00 41,200.00 12/01/97 11/01/27 10.000 10.000 16.000 6.000
60 SB581 161563531 58,000.00 58,000.00 12/01/97 11/01/27 10.000 9.000 16.000 5.125
60 SB581 161563622 67,500.00 67,500.00 12/01/97 11/01/27 9.750 8.750 15.750 5.000
60 SB581 161564448 48,800.00 48,800.00 12/01/97 11/01/27 12.750 11.750 18.750 7.500
60 SB581 161565536 45,000.00 44,976.67 12/01/97 11/01/27 9.250 9.250 15.250 5.800
60 SB581 161565551 147,600.00 147,527.40 11/01/97 10/01/27 9.500 8.500 15.500 5.200
60 SB581 161566732 658,000.00 657,701.05 11/01/97 10/01/27 9.875 9.875 15.875 6.000
60 SB581 161566963 62,200.00 62,175.94 11/01/97 10/01/27 10.625 9.625 16.625 6.150
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
Alliance Funding Sale Schedule A - Group 2, Sub-Pool IV Page 5 12/17/97
A division of Superior Bank FSB 1997-4 Class 2 - Initial Pool of Adjustable Rate Mortgages - Settlement 12/22/97
Zip
Pool ID Sale ID Account Name Address City State Code
- ------------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C>
60 SB581 161568811 MILLER LESLIE L 743 DANVER LANE BEECH GROVE IN 46107
60 SB581 161568845 BOWEN JOHN R 7940 FOX HOLLOW ROAD BLOOMINGTON IN 47408
60 SB581 161570254 SALEH HALIMEH 12052 SOUTH LOCKWOOD ALSIP IL 60803
60 SB581 161570304 GLENN DONALD E 629 LAGUNA DRIVE WOLVERINE LAKE MI 48390
60 SB581 161571807 VELA JOSE LUIS JR 1645 WEST ERIE ST CHICAGO IL 60622
60 SB581 161571815 MAJOR WILLIAM J 9438 SOUTH ALBANY EVERGREEN PARK IL 60805
60 SB581 161572938 KING PAUL C JR 7034 LEWIS MT MORRIS MI 48458
60 SB581 161573308 ONA RENE 8 SOUTH BRAINTREE DRIVE SCHAUMBURG IL 60193
60 SB581 161573738 VAN BUREN PHILIP V 294 E BOSTON BLVD DETROIT MI 48202
60 SB581 161573811 ESTEP CHRISTOPHE 2885 SOUTH TINDALL INDIANAPOLIS IN 46203
60 SB581 161574702 WINSTON DERRICK 22119 HILLSIDE DRIVE RICHTON PARK IL 60471
60 SB581 161574744 HENDERSON TROY H 935 EAST 150TH STREET CLEVELAND OH 44108
60 SB581 161574876 NOVECK MARTIN I 9255 ALLEN RD CLARKSTON MI 48348
60 SB581 161575022 SEARS KIMBERLY A 5147 PRIMROSE AVE INDIANAPOLIS IN 46205
60 SB581 161575121 SWEEZY JOHN FRANK 8849 WEST OLD FORT ROAD FORTVILLE IN 46040
60 SB581 161575147 PARSON WILLIAM R 7948 ASHTON DRIVE INDIANAPOLIS IN 46226
60 SB581 161577036 WHITTED ANNIE P 301 WEST 150TH PLACE HARVEY IL 60426
60 SB581 161577226 PONIKIEWSKI KRIS J 4400 OLD US 23 BRIGHTON MI 48116
60 SB581 161578562 MCCULLOUGH GEORGE 13221 E OUTER DR DETROIT MI 48224
60 SB581 161578752 URBAN KENNETH L 4443 N 1000 EAST BROWNSBURG IN 46112
60 SB581 161579305 WISNIEWSKI MARK D 406 WEST OTTAWA STREET PLAINFIELD IL 60544
60 SB581 161579958 BRIDGES ELIZABETH 9012 OLD ANDERSONVILLE PIK POWELL TN 37849
60 SB581 161580733 RUFF PATRICIA ANN 1911 SOUTH KENILWORTH BERWYN IL 60402
60 SB581 161581285 BREWBAKER MARLENE D 4014 SHOALS OKEMOS MI 48864
60 SB581 161585435 KASSIM MUSAED 8035-41 PITT DETROIT MI 48210
60 SB581 161587944 GROSE MICHEAL J 18825 34 MILE ROAD ARMADA MI 48005
60 SB583 161555339 BELL CALVIN 17414 HOLLY HILL DRIVE CLEVELAND OH 44128
60 SB583 161559786 CHRISTMAS DELORES 16457 PAULINA MARKHAM IL 60426
60 SB583 161559869 BRADLEY CARL JR 9685 WOODLANDS DR FISHERS IN 46038
60 SB583 161565312 LOCKETT CAROLYN 3937 GROSVENOR ROAD SOUTH EUCLID OH 44118
60 SB583 161575659 HERAMB RONALD J 17306 LORENZ LANSING IL 60438
60 SB583 161578489 CARROLL PETER J 860 HEMINGWAY LAKE ORION MI 48362
60 SB583 161578877 BRYAN DAVID 28910 LANTZ BLVD ELKHART IN 46516
60 SB583 161579982 WOLFE FLOYD T 220 W LINCOLN AVE MILLERSBURG IN 46543
60 SB583 161580790 KIMBROUGH CAROL A 132 E 120TH STREET CHICAGO IL 60628
60 SB583 161581368 MCFARLAND KIMBERLY D 2920 NOBLE STREET ANDERSON IN 46016
60 SB583 161584560 LEE EDWARD 5043 SOUTH ABERDEEN CHICAGO IL 60609
60 SB583 161584727 MEADOWS FREDRICK D 1022 5TH STREET SOUTH WEST CANTON OH 44707
60 SB583 161587043 STEVENSON REGINALD 21411 KENYON DRIVE MAPLE HEIGHTS OH 44137
60 SB583 161588173 BARRETT PATRICK E 2804 WEST 174TH STREET HAZEL CREST IL 60429
60 SB583 161589338 MAYS LESLIE 2321 NORTH 54TH STREET MILWAUKEE WI 53210
60 SB583 161589437 TRENT BENNETT G JR 2 N DEE ROAD #107 PARK RIDGE IL 60068
60 SB583 161590955 BORDON DOROTHY A 105 S MAPLE MT PROSPECT IL 60056
60 SB583 161591391 ENGLAND BRIAN K 306 S MAIN TUSCOLA IL 61953
60 SB583 161591573 KILGORE JONAH 8811 SOUTH NORMAL CHICAGO IL 60620
60 SB583 161591649 HARDRICK PATRICIA 2976 KENSINGTON CLEVELAND HEIGHTS OH 44118
60 SB583 161591995 SEYDEL GREGG P 3625 EAST IONA TERRACE CUDAHY WI 53110
60 SB583 161594759 EICHHORST BRUCE 9N052 CORRON ROAD ELGIN IL 60123
60 SB583 161596028 CARLI KATHLEEN A 2302 THEDA LANE ROLLING MEADOWS IL 60008
60 SB583 161602263 SANDOVAL GUILLERMO 4844 WEST MEDILL AVE CHICAGO IL 60639
60 SB583 161604533 RODISH GERALD 11430 SOUTH AVENUE J CHICAGO IL 60617
60 SBC582 800195075 NAVENTA JAIME 207 DIXON AVENUE STATEN ISLAND NY 10303
60 SBC582 800223166 EMMER BRUCE 831 MONTGOMERY STREET BROOKLYN NY 11213
60 SBC582 800243545 KLEIN ALEXANDRIA 1869 EAST 13TH STREET BROOKLYN NY 11230
60 SBC582 800259459 BRAZAK LAURA J 1132 BELLEVUE AVENUE SYRACUSE NY 13204
60 SBC582 800261604 SPRANKLE JEFFREY LYNN RD 3 BOX 432 TYRONE PA 16686
60 SBC582 800272379 JIMINEZ MARIA 1146 JASPER STREET VALLEY STREAM NY 11580
<CAPTION>
Principal Cut-off Date First Initial Minimum Maximum
Balance at Principal Payment Maturity Mortgage Mortgage Mortgage Gross
Pool ID Sale ID Account Origination Balance Date Date Rate Rate Rate Margin
- ------------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
60 SB581 161568811 147,500.00 147,500.00 12/01/97 11/01/27 10.375 9.375 16.375 6.250
60 SB581 161568845 68,000.00 68,000.00 12/01/97 11/01/27 9.000 9.000 15.000 5.500
60 SB581 161570254 118,400.00 118,270.17 11/01/97 10/01/27 9.000 9.000 15.000 5.550
60 SB581 161570304 780,000.00 780,000.00 01/01/98 12/01/27 9.500 9.500 15.500 6.550
60 SB581 161571807 95,200.00 95,200.00 12/01/97 11/01/27 12.375 12.375 18.375 9.400
60 SB581 161571815 97,700.00 97,656.78 12/01/97 11/01/27 10.000 9.000 16.000 5.250
60 SB581 161572938 66,000.00 66,000.00 12/01/97 11/01/27 10.875 9.875 16.875 6.950
60 SB581 161573308 165,000.00 165,000.00 12/01/97 11/01/27 10.750 10.750 16.750 7.250
60 SB581 161573738 243,000.00 243,000.00 12/01/97 11/01/27 10.000 9.000 16.000 5.500
60 SB581 161573811 54,000.00 54,000.00 12/01/97 11/01/27 10.375 9.375 16.375 5.750
60 SB581 161574702 130,500.00 130,500.00 12/01/97 11/01/27 10.375 9.375 16.375 5.750
60 SB581 161574744 48,400.00 48,400.00 12/01/97 11/01/27 12.250 11.250 18.250 7.250
60 SB581 161574876 220,000.00 219,937.05 12/01/97 11/01/27 12.000 11.000 18.000 7.050
60 SB581 161575022 51,300.00 51,300.00 12/01/97 11/01/27 10.375 9.375 16.375 6.250
60 SB581 161575121 60,000.00 60,000.00 12/01/97 11/01/27 8.750 8.750 14.750 5.250
60 SB581 161575147 94,300.00 94,300.00 12/01/97 11/01/27 11.125 10.125 17.125 6.750
60 SB581 161577036 56,800.00 56,786.26 12/01/97 11/01/27 12.750 11.750 18.750 8.000
60 SB581 161577226 175,000.00 175,000.00 12/01/97 11/01/27 10.375 9.375 16.375 6.200
60 SB581 161578562 81,000.00 81,000.00 12/01/97 11/01/27 8.500 8.500 14.500 5.500
60 SB581 161578752 67,900.00 67,883.58 12/01/97 11/01/27 12.750 11.750 18.750 8.000
60 SB581 161579305 117,000.00 117,000.00 12/01/97 11/01/27 9.500 9.500 15.500 6.250
60 SB581 161579958 57,600.00 57,600.00 12/01/97 11/01/27 12.125 11.125 18.125 7.500
60 SB581 161580733 166,500.00 166,500.00 12/01/97 11/01/27 10.375 9.375 16.375 6.250
60 SB581 161581285 195,500.00 195,432.17 12/01/97 11/01/27 11.125 10.125 17.125 6.750
60 SB581 161585435 24,000.00 24,000.00 12/01/97 11/01/27 10.250 9.250 16.250 6.250
60 SB581 161587944 124,000.00 123,970.00 12/01/97 11/01/27 12.750 11.750 18.750 8.550
60 SB583 161555339 57,200.00 57,200.00 12/01/97 11/01/27 12.750 11.750 18.750 8.000
60 SB583 161559786 56,000.00 56,000.00 01/01/98 12/01/27 12.750 11.750 18.750 8.000
60 SB583 161559869 295,300.00 295,300.00 01/01/98 12/01/27 11.000 10.000 17.000 6.250
60 SB583 161565312 58,000.00 58,000.00 01/01/98 12/01/27 10.750 9.750 16.750 6.000
60 SB583 161575659 85,000.00 85,000.00 12/01/97 11/01/27 10.625 9.625 16.625 6.000
60 SB583 161578489 131,200.00 131,200.00 01/01/98 12/01/27 12.125 11.125 18.125 7.500
60 SB583 161578877 47,200.00 47,200.00 12/01/97 11/01/27 12.750 11.750 18.750 8.000
60 SB583 161579982 48,000.00 48,000.00 01/01/98 12/01/27 12.750 11.750 18.750 8.000
60 SB583 161580790 71,200.00 71,200.00 12/01/97 11/01/27 10.500 9.500 16.500 6.250
60 SB583 161581368 43,200.00 43,200.00 01/01/98 12/01/27 12.750 11.750 18.750 8.000
60 SB583 161584560 50,100.00 50,100.00 12/01/97 11/01/27 8.750 7.750 14.750 4.250
60 SB583 161584727 36,800.00 36,800.00 12/01/97 11/01/27 12.750 11.750 18.750 8.000
60 SB583 161587043 64,800.00 64,800.00 12/01/97 11/01/27 12.750 11.750 18.750 8.000
60 SB583 161588173 75,200.00 75,200.00 01/01/98 12/01/27 12.750 11.750 18.750 8.000
60 SB583 161589338 99,400.00 99,400.00 01/01/98 12/01/27 11.875 10.875 17.875 7.000
60 SB583 161589437 76,000.00 76,000.00 01/01/98 12/01/27 9.875 9.875 15.875 6.250
60 SB583 161590955 140,000.00 140,000.00 01/01/98 12/01/27 11.500 10.500 17.500 6.750
60 SB583 161591391 54,400.00 54,400.00 01/01/98 12/01/27 12.625 11.625 18.625 8.000
60 SB583 161591573 80,500.00 80,500.00 01/01/98 12/01/27 8.875 8.875 14.875 6.400
60 SB583 161591649 112,000.00 112,000.00 01/01/98 12/01/27 12.750 11.750 18.750 8.000
60 SB583 161591995 100,000.00 100,000.00 01/01/98 12/01/27 12.500 11.500 18.500 8.000
60 SB583 161594759 200,000.00 200,000.00 01/01/98 12/01/27 13.625 12.625 19.625 8.750
60 SB583 161596028 127,200.00 127,200.00 01/01/98 12/01/27 12.125 11.125 18.125 7.500
60 SB583 161602263 146,400.00 146,400.00 01/01/98 12/01/27 8.500 8.500 14.500 5.550
60 SB583 161604533 100,800.00 100,800.00 01/01/98 12/01/27 13.750 12.750 19.750 9.400
60 SBC582 800195075 120,000.00 119,715.47 07/01/97 06/01/27 9.750 8.750 15.750 5.250
60 SBC582 800223166 192,500.00 192,161.14 06/01/97 05/01/27 12.000 11.000 18.000 6.750
60 SBC582 800243545 266,000.00 265,680.09 09/01/97 08/01/27 10.500 9.500 16.500 6.050
60 SBC582 800259459 28,000.00 27,889.80 10/01/97 09/01/27 10.750 9.750 16.750 6.000
60 SBC582 800261604 55,880.00 55,787.42 10/01/97 09/01/17 13.500 12.500 19.500 9.300
60 SBC582 800272379 116,450.00 116,383.03 10/01/97 09/01/27 12.000 11.000 18.000 7.550
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
Alliance Funding Sale Schedule A - Group 2, Sub-Pool IV Page 6 12/17/97
A division of Superior Bank FSB 1997-4 Class 2 - Initial Pool of Adjustable Rate Mortgages - Settlement 12/22/97
Zip
Pool ID Sale ID Account Name Address City State Code
- ------------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C>
60 SBC582 800283905 BARTHWAITE EARL 1545 1547 BERGEN STREET BROOKLYN NY 11213
60 SBC582 800298994 BANFUL ISAAC 1479 EAST 84TH ST BROOKLYN NY 11236
60 SBC582 800314676 HARRY JAMES E 771 MCKINLEY STREET HAZLETON PA 18201
60 SBC582 800316572 HOLLOWELL PAUL DAVID 6 LAURIE LANE WALLINGFORD PA 19086
60 SBC582 800323255 AVALONE JAMES W 41 SOUTH 6TH STREET EASTON PA 18042
60 SBC582 800323636 MOON CASS 10 MECHANIC ST CAMILLUS NY 13031
60 SBC582 800330722 LEVINE IRA 1 WINMERE PLACE DIX HILLS NY 11746
60 SBC582 800330797 SOUSA PAULO 370 DAVIS AVENUE KEARNY NJ 07032
60 SBC582 800331480 MUMAW MARK J 157 WEST MUIR AVE HAZLETON PA 18201
60 SBC582 800334070 PAGLIA EDMUND L JR 116 DUNBAR LANE HAMDEN CT 06514
60 SBC582 800338402 GOLDENBERG BORIS 1696 E 2ND STREET BROOKLYN NY 11211
60 SBC582 800340952 SARKI ADNAN 182 FIELDCREST ROAD PARSIPPANY NJ 07054
60 SBC582 800342115 VLACICH MARINO 1615 BENSON AVENUE BROOKLYN NY 11214
60 SBC582 800349292 THOMAS ELOISE 123 LEHIGH AVENUE NEWARK NJ 07112
60 SBC582 800349342 RHETT ROBERT R 538 EAST 24TH STREET BROOKLYN NY 11210
60 SBC582 800352841 JOSEPH MARIE JOCELYNE 768 GOODRICH STREET UNIONDALE NY 11553
60 SBC582 800354011 HARCHAR ROBERT D 11384 BARRINGTON BLVD CLEVELAND OH 44130
60 SBC582 800354060 GARCIA ARACELY 3207 76TH STREET JACKSON HEIGHTS NY 11372
60 SBC582 800357857 CUERVO DENNIS 6 WHITESPRUCE DRIVE WADING RIVER NY 11792
60 SBC582 800365645 ORTEGA MERCEDES 164 SOMERSET DRIVE E STROUDSBURG PA 18301
60 SBC582 800367757 TAYLOR TODD 948 RTE 23 WANTAGE NJ 07461
60 SBC582 800370256 LOFTUS MARY ANN 328 NORTH MAIN STREET MINOA NY 13116
60 SBC582 800370652 SHAH MOHAMMAD 52 28TH AVENUE BROOKLYN NY 11214
60 SBC582 800370736 TERRY CORLYS 138 SOUTH NINTH AVENUE MOUNT VERNON NY 10550
60 SBC582 800371767 PYDANA ROBERT 4313 AVENUE J BROOKLYN NY 11210
60 SBC582 800374753 TURNER FRED G 421 EAST FORT DADE BROOKSVILLE FL 34601
60 SBC582 800376915 DAILEY JANICE 371 CHATELAINE AVENUE DANVILLE VA 24541
60 SBC582 800382871 INGO SAMUEL A JR 1006 34TH LANE PUEBLO CO 81006
60 SBC582 800383226 GRANT RICHARD A 1008 SPRING VALLEY RD QUARRYVILLE PA 17566
60 SBC582 800386211 WILSON MARY ANN 224 DOVER STREET BRIDGEPORT CT 06610
60 SBC582 800389090 ZAMORA SERGIO 21435 NORTH 34TH DRIVE PHOENIX AZ 85027
60 SBC582 800391534 NARVESEN ERIC 88 LELAND AVENUE NEW ROCHELLE NY 10805
60 SBC582 800392037 FERRER ALEXANDRA 58-37 VAN CLEEF STREET FLUSHING NY 11368
60 SBC582 800392656 UNDERWOOD EDDIE W 4500 DORIS DRIVE LIZELLA GA 31052
60 SBC582 800397176 WEBB DALE L 121 WEST TENTH STREET ASHLAND OH 44805
60 SBC582 800400509 ALLEN G VINCE 3417 EAST LAS ROCAS DRIVE PHOENIX AZ 85028
60 SBC582 800401515 OGREN STEVEN L 1077 PORTOLA AVENUE SAN JOSE CA 95126
60 SBC582 800403370 DESHIELDS STEVEN A 1910 LANTERN LANE ORELAND PA 19075
60 SBC582 800406613 IFEANYI ISRAEL 3380 KATES WAY DULUTH GA 30097
60 SBC582 800407199 LEIGH DAWN ROBIN 1224 W MARKET STREET POTTSVILLE PA 17901
60 SBC582 800408114 GUASTELLA SALVATORE 10 LINCOLN AVENUE MASTIC BEACH NY 11951
60 SBC582 800412272 WHITE KEITH M JR 2770 N DEERE VALLEY DRIVE LAYTON UT 84040
60 SBC582 800412322 GIANNINI MICHAEL 472 CONARROE STREET PHILADELPHIA PA 19128
60 SBC582 800413015 HURD CHARLES S 2050 HILSTAD ROAD NE BREMERTON WA 98311
60 SBC582 800417669 BARFIELD-PAG JESSIE 3289 ARONIMINK COURT PICKERINGTON OH 43147
60 SBC582 800417867 WILLIAMS THOMAS K JR 3 DEER RIDGE ROAD BASKING RIDGE NJ 07920
60 SBC582 800420200 CIGLER GARY 6507 LEECHBURG ROAD VERONA PA 15147
60 SBC582 800423964 CURRAN PATRICK C 10 ATTERBURY DRIVE MALVERN PA 19355
60 SBC582 800426975 MOHAMED MAGDY 247 MAPLEWOOD DRIVE POTTSTOWN PA 19464
60 SBC582 800428096 SPILLER DAVID J 9217 PILGRIM LANE PHILADELPHIA PA 19114
60 SBC582 800429383 LOGUE PATRICK J 4434 EAST CRYSTAL LANE PARADISE VALLEY AZ 85253
60 SBC582 800429482 MALLOY JOHN D 24815 238TH PLACE SOUTH MAPLE VALLEY WA 98038
60 SBC582 800430969 OPSAHL JAMES ALAN 6700 NIBLICK COURT AUBURN CA 95602
60 SBC582 800431348 BUSKIRK RICHARD A 3811 NORTH DOGWOOD ROAD WALNUTPORT PA 18088
60 SBC582 800433237 CAREY PATRICIA L 1909 EAST LANE AVENUE PHOENIX AZ 85020
60 SBC582 800433294 DUBOIS TIENA L 7742 EAST GRANADA ROAD SCOTTSDALE AZ 85257
60 SBC582 800435505 THOMAS NANCY LORETTA 1814 MILES DRIVE LONGVIEW TX 75605
<CAPTION>
Principal Cut-off Date First Initial Minimum Maximum
Balance at Principal Payment Maturity Mortgage Mortgage Mortgage Gross
Pool ID Sale ID Account Origination Balance Date Date Rate Rate Rate Margin
- ------------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
60 SBC582 800283905 139,500.00 139,369.32 10/01/97 09/01/27 9.750 8.750 15.750 6.400
60 SBC582 800298994 238,000.00 238,000.00 12/01/97 11/01/27 11.750 10.750 17.750 7.550
60 SBC582 800314676 40,500.00 40,483.02 12/01/97 11/01/27 10.250 9.250 16.250 5.750
60 SBC582 800316572 304,000.00 304,000.00 01/01/98 12/01/27 11.750 10.750 17.750 7.250
60 SBC582 800323255 49,600.00 49,600.00 12/01/97 11/01/27 12.750 11.750 18.750 8.000
60 SBC582 800323636 69,300.00 69,300.00 12/01/97 11/01/27 11.000 10.000 17.000 6.450
60 SBC582 800330722 263,500.00 263,395.29 11/01/97 10/01/27 10.500 9.500 16.500 6.300
60 SBC582 800330797 124,000.00 124,000.00 12/01/97 11/01/27 13.000 12.000 19.000 7.850
60 SBC582 800331480 26,350.00 26,350.00 12/01/97 11/01/27 11.000 10.000 17.000 5.500
60 SBC582 800334070 234,000.00 233,780.76 10/01/97 09/01/27 9.750 8.750 15.750 5.370
60 SBC582 800338402 200,000.00 200,000.00 12/01/97 11/01/27 10.625 9.625 16.625 6.300
60 SBC582 800340952 228,600.00 228,436.23 11/01/97 10/01/27 11.000 11.000 17.000 6.800
60 SBC582 800342115 220,500.00 220,500.00 12/01/97 11/01/27 10.250 9.250 16.250 5.750
60 SBC582 800349292 66,500.00 66,500.00 12/01/97 11/01/27 12.250 11.250 18.250 7.375
60 SBC582 800349342 223,550.00 223,448.44 11/01/97 10/01/27 9.875 9.875 15.875 6.500
60 SBC582 800352841 136,000.00 136,000.00 12/01/97 11/01/27 11.875 10.875 17.875 7.550
60 SBC582 800354011 76,700.00 76,700.00 12/01/97 11/01/27 12.000 11.000 18.000 6.750
60 SBC582 800354060 205,200.00 205,200.00 12/01/97 11/01/27 10.000 9.000 16.000 5.350
60 SBC582 800357857 144,000.00 143,934.58 11/01/97 10/01/27 9.875 8.875 15.875 5.500
60 SBC582 800365645 103,950.00 103,950.00 01/01/98 12/01/27 9.875 8.875 15.875 5.250
60 SBC582 800367757 112,000.00 111,949.93 11/01/97 10/01/27 13.125 12.125 19.125 8.900
60 SBC582 800370256 59,900.00 59,900.00 12/01/97 11/01/27 8.875 7.875 14.875 4.500
60 SBC582 800370652 157,500.00 157,500.00 12/01/97 11/01/27 10.500 9.500 16.500 6.600
60 SBC582 800370736 115,000.00 115,000.00 12/01/97 11/01/27 11.625 10.625 17.625 7.400
60 SBC582 800371767 182,750.00 182,750.00 12/01/97 11/01/27 9.000 9.000 15.000 6.050
60 SBC582 800374753 64,000.00 64,000.00 01/01/98 12/01/27 10.250 9.250 16.250 6.750
60 SBC582 800376915 24,500.00 24,500.00 01/01/98 12/01/27 9.125 8.125 15.125 4.500
60 SBC582 800382871 98,100.00 98,100.00 01/01/98 12/01/27 9.875 8.875 15.875 6.000
60 SBC582 800383226 86,400.00 86,376.62 11/01/97 10/01/27 12.250 11.250 18.250 7.500
60 SBC582 800386211 36,000.00 35,993.06 11/01/97 10/01/27 13.750 12.750 19.750 8.900
60 SBC582 800389090 92,174.00 92,129.84 12/01/97 11/01/27 9.625 8.625 15.625 5.800
60 SBC582 800391534 244,000.00 243,928.27 11/01/97 10/01/27 11.875 10.875 17.875 7.550
60 SBC582 800392037 232,200.00 232,079.62 11/01/97 10/01/27 9.250 9.250 15.250 5.700
60 SBC582 800392656 34,000.00 34,000.00 01/01/98 12/01/17 10.625 9.625 16.625 6.250
60 SBC582 800397176 34,000.00 34,000.00 12/01/97 11/01/27 10.750 9.750 16.750 6.250
60 SBC582 800400509 172,800.00 172,705.61 11/01/97 10/01/27 9.000 9.000 15.000 5.550
60 SBC582 800401515 188,000.00 188,000.00 12/01/97 11/01/27 11.000 11.000 17.000 8.000
60 SBC582 800403370 197,550.00 197,550.00 12/01/97 11/01/27 10.625 9.625 16.625 7.300
60 SBC582 800406613 249,900.00 249,756.23 12/01/97 11/01/27 8.750 7.750 14.750 5.000
60 SBC582 800407199 23,375.00 23,366.89 12/01/97 11/01/27 11.125 10.125 17.125 6.750
60 SBC582 800408114 57,000.00 56,982.28 12/01/97 11/01/27 11.625 11.625 17.625 8.150
60 SBC582 800412272 295,500.00 295,500.00 12/01/97 11/01/27 10.875 9.875 16.875 6.500
60 SBC582 800412322 51,000.00 51,000.00 12/01/97 11/01/27 9.875 8.875 15.875 6.750
60 SBC582 800413015 125,280.00 125,280.00 12/01/97 11/01/27 10.125 9.125 16.125 6.250
60 SBC582 800417669 140,400.00 140,400.00 12/01/97 11/01/27 10.000 9.000 16.000 6.250
60 SBC582 800417867 390,000.00 390,000.00 12/01/97 11/01/27 11.250 11.250 17.250 7.750
60 SBC582 800420200 48,000.00 48,000.00 12/01/97 11/01/27 12.750 11.750 18.750 8.000
60 SBC582 800423964 223,200.00 223,200.00 12/01/97 11/01/27 8.750 8.750 14.750 5.500
60 SBC582 800426975 82,400.00 82,356.15 12/01/97 11/01/27 9.125 9.125 15.125 5.000
60 SBC582 800428096 80,000.00 79,957.42 12/01/97 11/01/27 9.125 8.125 15.125 5.000
60 SBC582 800429383 360,000.00 360,000.00 12/01/97 11/01/27 11.375 11.375 17.375 8.150
60 SBC582 800429482 129,000.00 129,000.00 12/01/97 11/01/22 11.125 10.125 17.125 7.750
60 SBC582 800430969 300,000.00 300,000.00 12/01/97 11/01/27 9.625 8.625 15.625 5.500
60 SBC582 800431348 64,000.00 63,984.52 12/01/97 11/01/27 12.750 11.750 18.750 8.000
60 SBC582 800433237 208,000.00 207,883.38 12/01/97 11/01/27 8.875 8.875 14.875 6.150
60 SBC582 800433294 134,300.00 134,300.00 12/01/97 11/01/27 11.875 10.875 17.875 7.300
60 SBC582 800435505 71,200.00 71,200.00 12/01/97 11/01/27 9.625 8.625 15.625 5.500
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
Alliance Funding Sale Schedule A - Group 2, Sub-Pool IV Page 7 12/17/97
A division of Superior Bank FSB 1997-4 Class 2 - Initial Pool of Adjustable Rate Mortgages - Settlement 12/22/97
Zip
Pool ID Sale ID Account Name Address City State Code
- ------------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C>
60 SBC582 800439309 CAMPBELL NIGEL 350 PARK PLACE TOBYHANNA PA 18466
60 SBC582 800443426 FLEISHMAN MARC C 7162 WEST FIREBIRD DRIVE GLENDALE AZ 85308
60 SBC582 800448623 FEDERICO HECTOR C 3055 NORTH 90TH PLACE MESA AZ 85207
60 SBC584 800178485 ARTHUR FLOYD 105 WHEATLEY ROAD BROOKVILLE NY 11545
60 SBC584 800319774 MCGLONE JOSEPH M 3605 GENESEE PLACE PHILDELPHIA PA 19154
60 SBC584 800321879 KIRK COURTLANDT B 1039 WESTBANK ROAD GLENWOOD SPRINGS CO 81611
60 SBC584 800322711 LARWA FRANCIS P 14 LOT MOUNTAIN VIEW ESTAT BLAKESLEE PA 18610
60 SBC584 800328361 SINISCALCO ANTHONY V JR 7 OSAGE COURT READINGTON NJ 08870
60 SBC584 800335119 RYAN JAN ELIZABETH 128 REILING ROAD BRECKENRIDGE CO 80424
60 SBC584 800337230 DELMAZIO PHILLIP S 373 MAIN STREET NEW CANAAN CT 06840
60 SBC584 800348419 LEMLER LAWRENCE 2926 EAST JOHN CABOT DRIVE PHOENIX AZ 85032
60 SBC584 800355752 TOMMASO FRANK 777 BOULEVARD NEW MILFORD NJ 07646
60 SBC584 800358640 HOEL JOHN 98 WEST 525 NORTH KAYSVILLE UT 84037
60 SBC584 800359457 SELTZER IRWIN 47 SHRUB HOLLOW ROAD SEARINGTOWN NY 11576
60 SBC584 800360745 MAXWELL ANDREW H 41 HIGH STREET HOPE TOWNSHIP NJ 07844
60 SBC584 800367153 BARTON JOHN E 7013 OAK SPRINGS WAY CITRUS HEIGHTS CA 95621
60 SBC584 800371841 JEFFERS DOUGLASS A 5735 SADDLE ROCK DRIVE COLORADO SPRINGS CO 80918
60 SBC584 800373946 DELP DAVID 5537 TUCKER AVENUE NAPLES FL 33962
60 SBC584 800374969 HASSELBACH DOUGLAS L 201 S MAIN STREET MANHEIM PA 17545
60 SBC584 800383531 PALAZZETTI SERGIO 7 BUTTERNUT HOLLOW ROAD GREENWICH CT 06830
60 SBC584 800386336 LYTLE LESTER SCOTT 3691 STIRRUP AVENUE PAHRUMP NV 89048
60 SBC584 800388399 MILLER ERIC T 92 BALD HILL ROAD WILTON CT 06897
60 SBC584 800393845 DELEO RICHARD JR 4 CANTER ROAD TYNGSBORO MA 01879
60 SBC584 800395154 CATELL MICHAEL A 597 WYOMING AVENUE WYOMING PA 18644
60 SBC584 800398497 BECK ROBERT H 1525 NORTH 400 EAST HARRISVILLE UT 84404
60 SBC584 800400053 NEELY GREGORY 3498 BERTHA DRIVE BALDWIN HARBOR NY 11510
60 SBC584 800401945 BARRIOS JOSEPH P 21845 PARKWAY DRIVE RED BLUFF CA 96080
60 SBC584 800406498 SMITH WAYNE L 21665 NIGHTINGALE DRIVE QUEEN CREEK AZ 85242
60 SBC584 800406522 WILLIAMS NICOLA C 2038 EAST GARDENIA AVENUE PHOENIX AZ 85020
60 SBC584 800407934 GUY LEZLEE ANN 940 DANCING HORSE DRIVE COLORADO SPRINGS CO 80919
60 SBC584 800408320 GETKIN JIMMY W 903 AVENUE H RIVERSIDE PA 17868
60 SBC584 800410029 SOTO EDILBERTO 158 MOUNTAIN DRIVE TOBYHANNA PA 18466
60 SBC584 800410722 BERARDINO MICHAEL J 43 KING STREET PEABODY MA 01960
60 SBC584 800415432 TAYLOR DOUGLAS S 6111 BOARDWALK DRIVE TOBYHANNA PA 18466
60 SBC584 800416869 ONEILL SEAN 304-306 CUMMINS HIGHWAY ROSLINDALE MA 02131
60 SBC584 800419103 CHOLULA IGNACIO 293 TOWNSEND STREET NEW BRUNSWICK NJ 08901
60 SBC584 800419533 ROSSER EMMA JEAN 19 SURREY DRIVE AMITYVILLE NY 11701
60 SBC584 800419798 CONNORS ROBERT R SR 23 KATELYN LANE LANCASTER NY 14086
60 SBC584 800419913 KREMPASKY JOSEPH S 407 WOODLAND DRIVE WOODLAND PARK CO 80863
60 SBC584 800420168 GREEN JERRY K 531 MOUNTAIN VALLEY ROAD AXTON VA 24054
60 SBC584 800422917 VERONIKIS PENELOPE 1160 GREENLEAF DRIVE BETHLEHEM PA 18017
60 SBC584 800426744 ANTHONY PETER B 474 EAST 670 NORTH TOOELE UT 84074
60 SBC584 800433559 RICCI BRANDON J 796 HIGHWAY 103 IDAHO SPRINGS CO 80452
60 SBC584 800435208 WALKENHAUER BRENT D 3212 THORP ROAD MOXEE WA 98936
60 SBC584 800435216 STYLES ANN 1097 TRADER ROAD LABELLE FL 33935
60 SBC584 800438046 ROMANO ANDREW A 9476 GRACEFUL GOLD STREET LAS VEGAS NV 89123
60 SBC584 800441834 CAIRNS JOHN O 10550 118TH AVENUE NORTH LARGO FL 33773
60 SBC584 800441958 NORMAN ROBERT L 2350 1ST AVENUE SOUTH ST PETERBURG FL 33712
60 SBC584 800446825 REZEK MARKETA CH 8701 HURON STREET 9-105 DENVER CO 80222
60 SBC584 800447682 AKBARZADEH MAHMOUD MEHRDA 13173 EAST BETHANY PLACE AURORA CO 80014
60 SBC584 800449209 QUADE CRISTY 1945 BRIGGS STREET HARRISBURG PA 17103
60 SBC584 800452427 LOPRESTI ALISHA 2555 NORTHEAST 208 TERRACE NORTH MIAMI BEACH FL 33180
60 SBC585 800207284 BEHMER TIMOTHY L 461 SCHOOLHOUSE ROAD NEW PROVIDENCE PA 17560
60 SBC585 800258204 BAE PAN CHUL 230 DURIE AVENUE CLOSTER NJ 07624
60 SBC585 800276511 ALEKNA ROBERT M 3017 HAUCK ROAD GREEN LANE PA 18054
60 SBC585 800283640 POWELL ROY R JR 2 WOODLAND HOMES ROUTE 210 STONY POINT NY 10980
60 SBC585 800333312 AGUIRRE JOHNNY H 14237 S CHOLLA CANYON DRIV PHOENIX AZ 85044
<CAPTION>
Principal Cut-off Date First Initial Minimum Maximum
Balance at Principal Payment Maturity Mortgage Mortgage Mortgage Gross
Pool ID Sale ID Account Origination Balance Date Date Rate Rate Rate Margin
- ------------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
60 SBC582 800439309 153,000.00 152,918.58 12/01/97 11/01/27 9.125 8.125 15.125 5.000
60 SBC582 800443426 146,575.00 146,575.00 12/01/97 11/01/27 10.625 9.625 16.625 6.000
60 SBC582 800448623 280,000.00 280,000.00 12/01/97 11/01/27 8.500 8.500 14.500 5.800
60 SBC584 800178485 573,750.00 571,269.27 06/01/97 05/01/27 8.375 8.375 14.375 5.500
60 SBC584 800319774 54,300.00 54,300.00 12/01/97 11/01/27 13.000 12.000 19.000 7.800
60 SBC584 800321879 181,050.00 180,981.84 11/01/97 10/01/27 10.750 9.750 16.750 6.375
60 SBC584 800322711 143,225.00 143,135.51 10/01/97 09/01/27 11.625 10.625 17.625 7.300
60 SBC584 800328361 331,000.00 331,000.00 12/01/97 11/01/27 10.750 10.750 16.750 7.300
60 SBC584 800335119 148,000.00 147,810.61 10/01/97 09/01/27 8.250 7.250 14.250 4.000
60 SBC584 800337230 259,000.00 258,894.27 11/01/97 10/01/27 10.375 9.375 16.375 5.000
60 SBC584 800348419 75,200.00 75,103.75 10/01/97 09/01/27 8.250 8.250 14.250 4.850
60 SBC584 800355752 188,000.00 188,000.00 12/01/97 11/01/27 12.125 12.125 18.125 8.375
60 SBC584 800358640 176,400.00 176,315.49 11/01/97 10/01/27 9.625 8.625 15.625 5.250
60 SBC584 800359457 306,000.00 305,913.00 11/01/97 10/01/27 12.000 11.000 18.000 7.550
60 SBC584 800360745 101,250.00 101,250.00 12/01/97 11/01/27 10.625 9.625 16.625 6.300
60 SBC584 800367153 96,000.00 96,000.00 12/01/97 11/01/27 9.500 8.500 15.500 6.000
60 SBC584 800371841 158,000.00 157,901.80 11/01/97 10/01/27 8.375 7.375 14.375 4.000
60 SBC584 800373946 79,050.00 79,023.30 11/01/97 10/01/27 11.250 11.250 17.250 7.750
60 SBC584 800374969 111,900.00 111,900.00 01/01/98 12/01/27 10.750 9.750 16.750 6.100
60 SBC584 800383531 715,000.00 715,000.00 12/01/97 11/01/27 10.250 9.250 16.250 4.750
60 SBC584 800386336 127,800.00 127,800.00 12/01/97 11/01/27 9.625 8.625 15.625 6.250
60 SBC584 800388399 481,500.00 481,222.98 12/01/97 11/01/27 8.750 8.750 14.750 5.500
60 SBC584 800393845 111,800.00 111,800.00 12/01/97 11/01/27 13.125 12.125 19.125 8.250
60 SBC584 800395154 87,125.00 87,125.00 12/01/97 11/01/27 11.875 10.875 17.875 6.250
60 SBC584 800398497 110,000.00 110,000.00 12/01/97 11/01/27 9.750 8.750 15.750 5.375
60 SBC584 800400053 399,000.00 399,000.00 12/01/97 11/01/27 13.125 12.125 19.125 8.650
60 SBC584 800401945 130,900.00 130,900.00 12/01/97 11/01/27 10.125 9.125 16.125 6.700
60 SBC584 800406498 237,600.00 237,600.00 12/01/97 11/01/27 10.125 9.125 16.125 6.300
60 SBC584 800406522 156,000.00 155,939.65 12/01/97 11/01/27 10.625 9.625 16.625 6.300
60 SBC584 800407934 123,920.00 123,920.00 12/01/97 11/01/27 9.375 8.375 15.375 5.500
60 SBC584 800408320 153,000.00 153,000.00 12/01/97 11/01/27 9.750 8.750 15.750 6.250
60 SBC584 800410029 24,650.00 24,650.00 01/01/98 12/01/27 10.000 10.000 16.000 6.250
60 SBC584 800410722 117,000.00 116,964.62 12/01/97 11/01/27 11.750 10.750 17.750 7.300
60 SBC584 800415432 143,000.00 143,000.00 01/01/98 12/01/27 9.875 8.875 15.875 5.500
60 SBC584 800416869 172,000.00 172,000.00 01/01/98 12/01/27 9.375 8.375 15.375 5.250
60 SBC584 800419103 136,000.00 136,000.00 01/01/98 12/01/27 10.000 10.000 16.000 6.250
60 SBC584 800419533 58,500.00 58,500.00 01/01/98 12/01/27 13.125 12.125 19.125 8.300
60 SBC584 800419798 150,000.00 149,949.36 11/01/97 10/01/27 11.250 10.250 17.250 6.450
60 SBC584 800419913 102,400.00 102,400.00 12/01/97 11/01/27 9.625 8.625 15.625 5.500
60 SBC584 800420168 52,500.00 52,458.94 12/01/97 11/01/17 13.875 12.875 19.875 9.000
60 SBC584 800422917 102,000.00 102,000.00 01/01/98 12/01/27 11.000 11.000 17.000 8.000
60 SBC584 800426744 105,166.00 105,166.00 01/01/98 12/01/27 10.375 9.375 16.375 6.750
60 SBC584 800433559 233,750.00 233,750.00 01/01/98 12/01/27 10.875 9.875 16.875 6.750
60 SBC584 800435208 67,500.00 67,500.00 01/01/98 12/01/27 12.125 11.125 18.125 7.250
60 SBC584 800435216 101,600.00 101,600.00 01/01/98 12/01/27 12.750 11.750 18.750 8.000
60 SBC584 800438046 110,400.00 110,400.00 12/01/97 11/01/27 9.625 8.625 15.625 5.500
60 SBC584 800441834 28,000.00 28,000.00 12/07/97 11/07/27 10.375 9.375 16.375 6.250
60 SBC584 800441958 37,500.00 37,500.00 01/01/98 12/01/27 9.875 8.875 15.875 5.500
60 SBC584 800446825 35,000.00 35,000.00 01/01/98 12/01/27 9.625 8.625 15.625 5.500
60 SBC584 800447682 106,250.00 106,250.00 01/01/98 12/01/27 9.750 9.750 15.750 6.750
60 SBC584 800449209 50,150.00 50,150.00 01/01/98 12/01/27 11.125 10.125 17.125 6.750
60 SBC584 800452427 91,200.00 91,200.00 01/01/98 12/01/27 9.000 8.000 15.000 5.500
60 SBC585 800207284 99,600.00 99,522.73 09/01/97 08/01/27 12.500 11.500 18.500 8.500
60 SBC585 800258204 259,250.00 259,025.23 09/01/97 08/01/27 12.000 11.000 18.000 7.550
60 SBC585 800276511 157,500.00 157,338.96 09/01/97 08/01/27 11.500 11.500 17.500 8.150
60 SBC585 800283640 142,000.00 142,000.00 12/01/97 11/01/27 11.375 10.375 17.375 6.550
60 SBC585 800333312 111,350.00 111,295.23 11/01/97 10/01/27 9.500 9.500 15.500 6.000
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
Alliance Funding Sale Schedule A - Group 2, Sub-Pool IV Page 8 12/17/97
A division of Superior Bank FSB 1997-4 Class 2 - Initial Pool of Adjustable Rate Mortgages - Settlement 12/22/97
Zip
Pool ID Sale ID Account Name Address City State Code
- ------------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C>
60 SBC585 800345910 LIPPERT DONALD F 2032 PRESCOTT CANYON CIRCL PRESCOTT AZ 86301
60 SBC585 800347437 MAGDITS JOHN A 131 ALCOLADE DRIVE EAST SHIRLEY NY 11967
60 SBC585 800350340 VO MY NGA THI 1314 19TH STREET COURT NW GIG HARBOR WA 98335
60 SBC585 800351728 GODO JULIAN 12-14 JOHN STREET PATERSON NJ 07510
60 SBC585 800364259 BERTRAM JAMES A 118 HICKORY STREET HOLLIDAYSBURG PA 16648
60 SBC585 800366205 ANDERSEN JEFFREY 4016 WYNN ROAD BELLINGHAM WA 98225
60 SBC585 800380610 BAILEY LENA 211 SOUTH 12TH AVENUE MOUNT VERNON NY 10550
60 SBC585 800381378 BEEDLE JACK H 602 WEST ALABAMA AVENUE FOUNTAIN CO 80817
60 SBC585 800386369 ANDERSON BILLIE DEE 9333 ALAMEDA HARBOR AVENUE LAS VEGAS NV 89117
60 SBC585 800391823 SANCHEZ REGINA L 1951 NORTH 64TH STREET #32 MESA AZ 85205
60 SBC585 800396707 ROGERS KENNETH V 52 NORTH TURN LANE LEVITTOWN PA 19054
60 SBC585 800411597 SANTUCCI MARK 6 MERRIVALE DRIVE SMITHTOWN NY 11787
60 SBC585 800416695 REID SIDNEY 9009 SCHENCK AVENUE BROOKLYN NY 11236
60 SBC585 800419517 MAJOR CLYDE D 933 JACKSON ROAD SHAVERTOWN PA 18612
60 SBC585 800420895 COSTELLO MARY LOUISE 343 HIGHLAND AVENUE SOMERVILLE MA 02144
60 SBC585 800425548 RAIBURG YAKOV 12 MARSHALL STREET OCEANSIDE NY 11572
60 SBC585 800430936 KOTKO ALEXANDER 6270 MERRY WAY CLIPPER MILLS CA 95930
60 SBC585 800443293 MELCHER WILLIAM J 5613 NORTH SAND HILL DRIVE STANSBURY PARK UT 84074
60 SBC585 800448052 GHAFFARI SHAMCI 131 COOLIDGE AVENUE #321 WATERTOWN MA 02172
60 SBC585 800457483 SUHS DEBRA 300 EAST MAINE AVENUE LONGWOOD FL 32750
60 SBC585 800462517 RAIRDEN ANN MARIE 2828 JACKSON ST UNIT F-7 FT MYERS FL 33901
60 SBC591 800221780 GINSBERG BARRETT A 5 ARDEN ROAD DENIVLLE NJ 07834
60 SBC591 800307589 MOHMOUD TERESITA L 54 COLONIAL WAY SHORT HILL NJ 07041
60 SBC591 800326142 POTTS JOANNE S 24 MALLBORO DRIVE WOILMINGTON DE 19713
60 SBC591 800327983 ZELTNER KENT L 214 OLD COUNTY LANE EDWARDS CO 81632
60 SBC591 800333619 SACCA JOSEPH J 2033 MONROEVILLE ROAD MONROEVILLE NJ 08343
60 SBC591 800334880 GIBSON JOHANNA 468 HERZL STREET BROOKLYN NY 11212
60 SBC591 800355208 PEREZ BERNARDINO 220 67TH STREET WEST NEW YORK NJ 07093
60 SBC591 800363913 COLEMAN JAMES P 3245 CEDAR AVENUE SCRANTON PA 18505
60 SBC591 800366478 KOLLER JAMES 413 56TH STREET ALTOONA PA 16602
60 SBC591 800379679 DEFOSSE THOMAS L III 1213 GLENSIDE AVENUE WILMINGTON DE 19803
60 SBC591 800382111 SILVA WILSON A 476 NORTH 6TH STREET NEWARK NJ 07107
60 SBC591 800397739 BERNADINE PATRICK 1762 BROOKLYN AVENUE BROOKLYN NY 11210
60 SBC591 800408221 MAGEE TIMOTHY J 527 E CHELTENHAM AVENUE PHILADELPHIA PA 19120
60 SBC591 800409872 SERRA DEMETRIO R 182 HOWE AVENUE PASSAIC NJ 07055
60 SBC591 800410078 CALHOUN ARTHUR W 437 COLLINGS AVENUE COLLINGSWOOD NJ 08108
60 SBC591 800410110 BRYSON JOSEPH J 2442 S MOLE STREET PHILADELPHIA PA 19145
60 SBC591 800415663 KING ALAN B 4 BRICK SCHOOL ROAD WARREN CT 06754
60 SBC591 800419780 GREENBERG S MITCHELL 11 DIANAS TRAIL ROSLYN NY 11576
60 SBC591 800422792 SENATORE LAWRENCE 2745 BOULDER ROAD LAKE ARIEL PA 18436
60 SBC591 800434847 SCARANTINO DEBORAH 1612-1616 GRAND BOULEVARD HOLIDAY FL 34690
60 SBC591 800436677 MURDOCK RANDALL K 28 LYNWOOD PLACE NEW HAVEN CT 06511
60 SBC591 800443335 PHILLIPS CLARICE 536 SOUTH 7TH AVENUE MOUNT VERNON NY 10550
60 SBC591 800445520 SZUMINSKY HOWARD J JR 5032 LYTLE STREET PITTSBURGH PA 15207
60 SBC591 800453573 SAINI MOHAN 79 ADAMS STREET DORCHESTER MA 02121
60 SBC591 800469397 SETTLES BILLY GENE 4778 BONNIE BRAE ROAD BALTIMORE MD 21208
60 SBC591 800483414 JEFFERS JOSEPH MIKE 2504 WEST HARDROCK DRIVE WEST VALLEY CITY UT 84119
60 SBC591 800485922 BARKER JACK E 5126 GREENWOOD COURT EVERGREEN CO 80439
60 SBC591 800486334 HILL TREVOR D 10616 BROWN DRIVE WHITAKERS NC 27891
60 SUPER ARM 800237919 LORENC KAREN A 287 BRENTWOOD DR N TONAWANDA NY 14120
60 SUPER ARM 800252884 INDIVIGLIO PATRICIA A 181 LAKE AVENUE TUCKAHOE NY 10707
60 SUPER ARM 800317505 CAMPBELL HYACINTH 127 NORTH COLUMBUS AVENUE MOUNT VERNON NY 10550
60 SUPER ARM 800320673 REJMANIAK ROBERT H 2404 STATE ROAD EFFORT PA 18330
60 SUPER ARM 800347536 VANDUNK RICHARD B 19 PETERS MINE ROAD RINGWOOD NJ 07456
60 SUPER ARM 800353823 MCLAURIN JOSEPH 107 SOUTH 31ST STREET WYANDANCH NY 11798
60 SUPER ARM 800360976 DOLAN MATTHEW J 1021 14TH STREET WEST BABYLON NY 11704
60 SUPER ARM 800381501 BEATON CECIL 577 EAST 55TH STREET BROOKLYN NY 11203
<CAPTION>
Principal Cut-off Date First Initial Minimum Maximum
Balance at Principal Payment Maturity Mortgage Mortgage Mortgage Gross
Pool ID Sale ID Account Origination Balance Date Date Rate Rate Rate Margin
- ------------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
60 SBC585 800345910 66,725.00 66,658.67 11/01/97 10/01/17 12.125 11.125 18.125 7.800
60 SBC585 800347437 93,600.00 93,600.00 12/01/97 11/01/27 12.125 12.125 18.125 8.900
60 SBC585 800350340 199,750.00 199,674.80 11/01/97 10/01/27 10.750 9.750 16.750 6.500
60 SBC585 800351728 144,540.00 144,237.50 06/01/97 05/01/27 11.500 10.500 17.500 6.800
60 SBC585 800364259 40,495.00 40,495.00 12/01/97 11/01/27 12.375 11.375 18.375 7.500
60 SBC585 800366205 118,400.00 118,371.36 11/01/97 10/01/27 12.750 11.750 18.750 8.250
60 SBC585 800380610 156,000.00 155,960.08 11/01/97 10/01/27 12.500 11.500 18.500 7.950
60 SBC585 800381378 166,600.00 166,600.00 12/01/97 11/01/27 10.000 10.000 16.000 6.750
60 SBC585 800386369 148,500.00 148,500.00 12/01/97 11/01/27 9.625 8.625 15.625 6.250
60 SBC585 800391823 59,900.00 59,829.01 11/01/97 10/01/27 8.625 7.625 14.625 3.850
60 SBC585 800396707 98,100.00 98,065.96 11/01/97 10/01/27 11.125 10.125 17.125 6.800
60 SBC585 800411597 168,000.00 168,000.00 12/01/97 11/01/27 12.750 11.750 18.750 8.000
60 SBC585 800416695 246,600.00 246,514.44 12/01/97 11/01/27 11.125 10.125 17.125 7.300
60 SBC585 800419517 74,400.00 74,400.00 01/01/98 12/01/27 12.750 11.750 18.750 8.000
60 SBC585 800420895 281,250.00 281,250.00 12/01/97 11/01/27 10.125 9.125 16.125 6.100
60 SBC585 800425548 198,000.00 197,810.62 10/01/97 09/01/27 9.750 8.750 15.750 5.250
60 SBC585 800430936 60,000.00 60,000.00 12/01/97 11/01/27 8.500 7.500 14.500 5.000
60 SBC585 800443293 136,800.00 136,800.00 01/01/98 12/01/27 9.250 8.250 15.250 5.500
60 SBC585 800448052 97,500.00 97,458.01 12/01/97 11/01/27 10.125 9.125 16.125 6.000
60 SBC585 800457483 78,500.00 78,500.00 01/01/98 12/01/27 11.375 10.375 17.375 8.000
60 SBC585 800462517 24,000.00 24,000.00 01/01/98 12/01/27 9.500 9.500 15.500 5.500
60 SBC591 800221780 272,000.00 271,656.81 08/01/97 07/01/27 11.625 10.625 17.625 6.000
60 SBC591 800307589 216,000.00 215,874.40 10/01/97 09/01/27 11.000 10.000 17.000 6.800
60 SBC591 800326142 84,000.00 83,967.50 10/01/97 09/01/27 10.750 9.750 16.750 6.550
60 SBC591 800327983 476,000.00 476,000.00 01/01/98 12/01/27 10.125 9.125 16.125 6.750
60 SBC591 800333619 87,600.00 87,600.00 01/01/98 12/01/27 12.750 11.750 18.750 8.550
60 SBC591 800334880 135,000.00 135,000.00 01/01/98 12/01/27 13.500 12.500 19.500 9.150
60 SBC591 800355208 136,700.00 136,700.00 01/01/98 12/01/27 10.250 10.250 16.250 6.750
60 SBC591 800363913 77,850.00 77,850.00 01/01/98 12/01/27 9.750 8.750 15.750 5.000
60 SBC591 800366478 49,500.00 49,500.00 12/01/97 11/01/27 10.125 9.125 16.125 5.750
60 SBC591 800379679 96,000.00 96,000.00 12/01/97 11/01/27 9.625 8.625 15.625 5.250
60 SBC591 800382111 148,500.00 148,500.00 12/01/97 11/01/27 10.750 9.750 16.750 6.050
60 SBC591 800397739 196,200.00 196,200.00 01/01/98 12/01/27 9.500 9.500 15.500 6.550
60 SBC591 800408221 38,200.00 38,200.00 12/01/97 11/01/27 13.750 12.750 19.750 9.400
60 SBC591 800409872 103,500.00 103,500.00 01/01/98 12/01/27 10.375 9.375 16.375 6.250
60 SBC591 800410078 191,250.00 191,250.00 12/01/97 11/01/27 9.875 8.875 15.875 6.050
60 SBC591 800410110 49,500.00 49,500.00 12/01/97 11/01/27 10.250 10.250 16.250 7.300
60 SBC591 800415663 149,400.00 149,400.00 01/01/98 12/01/27 11.500 10.500 17.500 7.650
60 SBC591 800419780 333,000.00 333,000.00 01/01/98 12/01/27 11.125 10.125 17.125 7.300
60 SBC591 800422792 51,850.00 51,850.00 12/01/97 11/01/27 11.875 10.875 17.875 9.000
60 SBC591 800434847 40,000.00 40,000.00 01/01/98 12/01/27 11.875 10.875 17.875 7.250
60 SBC591 800436677 133,500.00 133,500.00 01/01/98 12/01/27 10.500 10.500 16.500 7.400
60 SBC591 800443335 234,000.00 234,000.00 12/01/97 11/01/27 11.125 10.125 17.125 7.300
60 SBC591 800445520 21,675.00 21,675.00 01/01/98 12/01/27 11.125 10.125 17.125 6.750
60 SBC591 800453573 72,800.00 72,800.00 01/01/98 12/01/27 8.250 8.250 14.250 5.000
60 SBC591 800469397 88,000.00 88,000.00 01/01/98 12/01/27 12.375 11.375 18.375 8.000
60 SBC591 800483414 93,500.00 93,500.00 01/01/98 12/01/27 10.625 9.625 16.625 6.750
60 SBC591 800485922 174,250.00 174,250.00 01/01/98 12/01/27 10.000 10.000 16.000 7.000
60 SBC591 800486334 87,700.00 87,700.00 01/01/98 12/01/27 10.250 9.250 16.250 5.750
60 SUPER ARM 800237919 64,000.00 63,975.90 11/01/97 10/01/27 10.750 9.750 16.750 5.950
60 SUPER ARM 800252884 229,500.00 229,432.48 11/01/97 10/01/27 11.875 10.875 17.875 7.550
60 SUPER ARM 800317505 238,000.00 238,000.00 12/01/97 11/01/27 10.375 10.375 16.375 6.850
60 SUPER ARM 800320673 151,300.00 151,260.19 11/01/97 10/01/27 12.375 11.375 18.375 7.500
60 SUPER ARM 800347536 25,000.00 25,000.00 12/01/97 11/01/27 11.625 11.625 17.625 8.150
60 SUPER ARM 800353823 81,000.00 81,000.00 12/01/97 11/01/27 9.500 9.500 15.500 6.550
60 SUPER ARM 800360976 110,500.00 110,500.00 01/01/98 12/01/27 10.625 9.625 16.625 6.550
60 SUPER ARM 800381501 152,000.00 152,000.00 12/01/97 11/01/27 12.000 12.000 18.000 9.050
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
Alliance Funding Sale Schedule A - Group 2, Sub-Pool IV Page 9 12/17/97
A division of Superior Bank FSB 1997-4 Class 2 - Initial Pool of Adjustable Rate Mortgages - Settlement 12/22/97
Zip
Pool ID Sale ID Account Name Address City State Code
- ------------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C>
60 SUPER ARM 800390825 POWER THOMAS R 218 POINTE DRIVE BRICK TOWNSHIP NJ 08723
60 SUPER ARM 800396830 DAVIES KIMON RONALD 624 J AVENUE KURE BEACH NC 28449
60 SUPER ARM 800416232 DESIR JOHNATHAN 1021 CLEVELAND STREET UNIONDALE NY 11553
60 SUPER ARM 800422149 FAUX ROBERT RAYMOND LOT #2 BAIRD STREET HARVEYS LAKE PA 18618
60 SUPER ARM 800431181 HOOVLER MARK A 32955 MCKINNIS CREEK ROAD STEAMBOAT SPRINGS CO 80477
60 SUPER ARM 800433013 DAVID BERNARD 191 HART STREET BROOKLYN NY 11206
60 SUPER ARM 800443236 WILSON BRADLEY P 6 BAY STATE ROAD WELLESLEY MA 02181
60 SUPER ARM 800450611 PFENDLER HARRY A JR 202 STAFFORDSHIRE PLACE PITTSBURGH PA 15238
60 SUPER ARM 800465858 BRUNGER SHERRI LYNN 285 CLEARWATER LARGO RD S LARGO FL 33770
60 SUPER ARM 800466021 CUOMO LOUIS 181 MOODY AVENUE FREEPORT NY 11520
60 SUPER ARM 800468209 NEILSON JANA E 6932 HUNTINGTON AVENUE NEWPORT NEWS VA 23607
60 SUPER ARM 800468589 WIMPEY LINDA A 204 WEST 3RD STREET BRADENTON FL 34205
60 SUPER ARM 800476871 WILLIAMS ED 328 EAST 60 NORTH GRANTSVILLE UT 84029
-----------------------------------------
319 Sale Total
467 Grand Total Sub-Pool IV
<CAPTION>
Principal Cut-off Date First Initial Minimum Maximum
Balance at Principal Payment Maturity Mortgage Mortgage Mortgage Gross
Pool ID Sale ID Account Origination Balance Date Date Rate Rate Rate Margin
- ------------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
60 SUPER ARM 800390825 412,000.00 412,000.00 01/01/98 12/01/27 10.125 10.125 16.125 6.650
60 SUPER ARM 800396830 76,000.00 75,965.48 12/01/97 11/01/27 9.875 8.875 15.875 5.500
60 SUPER ARM 800416232 141,750.00 141,750.00 12/01/97 11/01/27 10.000 9.000 16.000 6.000
60 SUPER ARM 800422149 68,600.00 68,600.00 12/01/97 11/01/27 8.750 7.750 14.750 4.250
60 SUPER ARM 800431181 242,250.00 242,250.00 12/01/97 11/01/27 8.500 7.500 14.500 4.250
60 SUPER ARM 800433013 123,000.00 123,000.00 12/01/97 11/01/27 10.250 9.250 16.250 6.400
60 SUPER ARM 800443236 349,900.00 349,900.00 01/01/98 12/01/27 11.000 10.000 17.000 6.500
60 SUPER ARM 800450611 214,600.00 214,600.00 01/01/98 12/01/27 8.125 7.125 14.125 4.750
60 SUPER ARM 800465858 88,000.00 88,000.00 01/01/98 12/01/27 10.875 9.875 16.875 6.750
60 SUPER ARM 800466021 153,000.00 153,000.00 01/01/98 12/01/27 10.000 9.000 16.000 5.500
60 SUPER ARM 800468209 58,650.00 58,650.00 01/01/98 12/01/27 10.375 9.375 16.375 6.750
60 SUPER ARM 800468589 43,937.00 43,915.95 01/01/98 12/01/27 9.625 8.625 15.625 5.000
60 SUPER ARM 800476871 90,000.00 90,000.00 01/01/98 12/01/27 8.125 7.125 14.125 5.000
------------------------------------------- ---------------------------------------
319 45,425,842.00 44,890,923.31 9.979 8.238 15.979 5.903
467 62,633,676.00 62,092,793.42 14.416 11.912 23.081 8.530
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
Alliance Funding Sale Schedule B - Group 2, Sub-Pool IV Page 1 12/18/97
A division of Superior Bank FSB 1997-4 Class 2 - Initial Pool of Adjustable Rate Mortgages - Settlement 12/22/97
Principal Type of Scheduled Cut-off Date Original
Balance at Mortgaged Payment Principal LTV
Pool ID Sale ID Account Name Origination Property Int & Prin Balance Ratio
- -------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C>
59 MLC170 180147027 SULLIVAN JAMES T 105,400.00 1 954.30 105,136.18 85.0
59 MLC170 800239303 JAWAHAR HENRY 222,400.00 1 2,181.22 222,027.75 83.9
59 MLC170 800267668 KORAP STANLEY 116,800.00 1 1,003.49 116,745.51 80.0
59 MLC170 800269300 COOKSEY CARMELITA 46,970.00 7 447.31 46,953.25 80.9
59 MLC170 800275802 MARTINS ADRIEL V 123,200.00 5 1,138.49 123,055.76 84.9
59 MLC170 800288060 YOUNG M RODNEY 245,000.00 1 2,060.09 244,758.03 63.6
59 MLC170 800303299 KUSHNIR ISRAEL 95,900.00 1 895.21 95,863.89 70.0
59 MLC170 800305864 BRUNSON HENRY 128,000.00 5 1,478.73 127,974.60 80.0
59 MLC170 800307134 FORBES HECTOR 177,500.00 3 1,492.52 177,412.69 77.1
59 MLC170 800309122 MAYER WILLIAM R 409,500.00 1 3,480.71 409,500.00 90.0
59 MLC170 800310757 DAVIES MICHAEL R 55,000.00 1 487.75 54,976.31 64.7
59 MLC170 800317885 SMITH MARSHALL G 49,500.00 3 452.80 49,480.33 82.5
59 MLC170 800319964 JARDINE DIANNE C 38,000.00 1 372.69 38,000.00 38.7
59 MLC170 800325029 LEONARD WILLIAM A 143,100.00 1 1,295.64 143,041.58 90.0
59 MLC170 800330524 PARIANTE JOHN 195,300.00 1 1,768.26 195,220.27 90.0
59 MLC170 800331704 MCCOLLUM RUSSELL I JR 58,000.00 1 552.35 57,979.32 80.0
59 MLC170 800333478 JACKSON CAROL 100,000.00 3 1,165.11 99,980.72 80.0
59 MLC170 800340804 RADOSTI WINIFRED 108,000.00 1 1,069.52 108,000.00 80.0
59 MLC170 800341182 DUPLECHAN EUGENE JR 115,000.00 1 935.68 115,000.00 84.9
59 MLC170 800342495 ASANTE AKEEM 106,100.00 1 950.76 106,010.64 89.9
59 MLC170 800343030 ROMANCHIK THOMAS J 56,800.00 1 551.68 56,780.82 80.0
59 MLC170 800349862 GRODY GARY 380,000.00 1 3,654.77 380,000.00 80.0
59 MLC170 800350431 DIFAZIO SALVATORE P 156,000.00 1 1,311.73 155,923.27 80.0
59 MLC170 800352601 SIRICO DOMINICK A. 110,500.00 3 1,052.32 110,500.00 85.0
59 MLC170 800352643 MCKENNA PAUL 241,800.00 1 2,211.84 241,703.91 84.9
59 MLC170 800353302 SNYDER JOHN 144,000.00 1 1,439.77 144,000.00 80.0
59 MLC170 800353419 PETERS RICHARD W 80,000.00 3 799.88 80,000.00 80.0
59 MLC170 800353559 WALDNER JOSEPH M 102,400.00 1 889.19 102,353.48 80.0
59 MLC170 800359044 EVANS TODD C 101,600.00 1 1,104.08 101,600.00 80.0
59 MLC170 800363509 MCDANIEL JAMES V 51,750.00 6 629.43 51,643.28 75.0
59 MLC170 800364606 TOIA MICHAEL 113,000.00 1 1,012.59 112,952.62 84.9
59 MLC170 800365710 PERINI DENNIS J 157,830.00 1 1,488.16 157,772.17 80.9
59 MLC170 800366114 FAULKNER HOBART 416,000.00 1 3,272.67 415,760.66 80.0
59 MLC170 800366163 GOOD JAMES T 64,000.00 1 609.49 63,977.18 84.9
59 MLC170 800366981 LAVELLE CAROL 297,500.00 1 2,917.77 297,500.00 85.0
59 MLC170 800370355 BINGAMAN JACK L 56,700.00 1 502.83 56,675.58 90.0
59 MLC170 800372138 DERRICK IVAN 115,600.00 5 1,014.47 115,600.00 85.0
59 MLC170 800372898 HEIMACH ELIZABETH ELLEN 40,000.00 3 446.39 40,000.00 46.5
59 MLC170 800375297 AMBEAULT EDWARD GRANT 49,000.00 1 499.31 49,000.00 84.9
59 MLC170 800386534 NIZAMA ROCIO M 158,850.00 8 1,497.78 158,850.00 85.0
59 MLC170 800388191 ZUZO JAMES J 42,400.00 1 460.76 42,400.00 80.0
59 MLC170 800388480 ZARAGOZA MARY 144,450.00 1 1,267.65 144,321.67 90.0
59 MLC170 800394256 ADAMS JOSEPH N 370,000.00 1 2,430.63 370,000.00 78.3
59 MLC170 800394843 MCCARTHY WAYNE J 120,000.00 1 1,086.49 120,000.00 61.2
59 MLC170 800394959 MARTORELLA CONCHETTA 165,000.00 1 1,447.99 164,927.01 89.6
59 MLC170 800395030 CLINE MARILYN W 89,675.00 1 870.98 89,644.72 85.0
59 MLC170 800400350 LEVINE LOUIS A 110,600.00 3 980.83 110,600.00 70.0
59 MLC170 800402091 BONNER ELEANOR J 153,000.00 3 1,356.84 153,000.00 90.0
59 MLC170 800405623 MOYE OTIS B 63,750.00 7 668.90 63,750.00 85.0
59 MLC170 800407058 GARDNER DONALD ROBERT 19,600.00 6 252.84 19,600.00 70.0
59 MLC170 800407355 DUFF DEIDRE M 103,400.00 1 945.84 103,400.00 89.9
59 MLC170 800407546 BRACHE ANTONIO 56,000.00 3 581.42 56,000.00 80.0
59 MLC170 800408965 FAIRBANKS ROBERT D 56,100.00 7 598.27 56,100.00 85.0
59 MLC170 800409120 GILYARD DWAYNE 89,600.00 3 947.59 89,576.41 80.0
59 MLC170 800410508 CRONIN WILLIAM A 98,800.00 1 997.30 98,800.00 65.0
59 MLC170 800413627 TUCKER CECELIA T 106,250.00 8 952.11 106,250.00 85.0
59 MLC170 800414286 GADDIS-HUNTE MARY 88,000.00 3 1,025.30 88,000.00 80.0
<CAPTION>
Next Current Property
Adjustment Mortgage Value at Owner
Pool ID Sale ID Account Date Rate Origination Occupied
- -------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C>
59 MLC170 180147027 05/01/99 10.375 124,000.00 Y
59 MLC170 800239303 01/01/98 11.375 265,000.00 Y
59 MLC170 800267668 10/01/99 9.750 146,000.00 Y
59 MLC170 800269300 10/01/99 11.000 58,000.00 Y
59 MLC170 800275802 08/01/99 10.625 145,000.00 Y
59 MLC170 800288060 10/01/99 9.500 385,000.00 Y
59 MLC170 800303299 10/01/99 10.750 137,000.00 N
59 MLC170 800305864 10/01/99 13.625 160,000.00 Y
59 MLC170 800307134 10/01/99 9.500 230,000.00 Y
59 MLC170 800309122 11/01/99 9.625 455,000.00 Y
59 MLC170 800310757 10/01/99 10.125 85,000.00 Y
59 MLC170 800317885 10/01/99 10.500 60,000.00 Y
59 MLC170 800319964 11/01/99 11.375 98,000.00 Y
59 MLC170 800325029 11/01/99 10.375 159,000.00 Y
59 MLC170 800330524 10/01/99 10.375 217,000.00 Y
59 MLC170 800331704 10/01/99 11.000 72,500.00 Y
59 MLC170 800333478 10/01/99 13.750 125,000.00 Y
59 MLC170 800340804 11/01/99 11.500 135,000.00 Y
59 MLC170 800341182 11/01/99 9.125 135,300.00 Y
59 MLC170 800342495 10/01/99 10.250 117,900.00 Y
59 MLC170 800343030 10/01/99 11.250 71,000.00 Y
59 MLC170 800349862 05/01/98 11.125 475,000.00 Y
59 MLC170 800350431 10/01/99 9.500 195,000.00 Y
59 MLC170 800352601 11/01/99 11.000 130,000.00 Y
59 MLC170 800352643 04/01/98 10.500 284,500.00 Y
59 MLC170 800353302 05/01/98 11.625 180,000.00 Y
59 MLC170 800353419 11/01/99 11.625 100,000.00 Y
59 MLC170 800353559 05/01/98 9.875 128,000.00 Y
59 MLC170 800359044 11/01/99 12.750 127,000.00 Y
59 MLC170 800363509 04/01/98 12.250 69,000.00 Y
59 MLC170 800364606 11/01/99 10.250 133,000.00 Y
59 MLC170 800365710 11/01/99 10.875 195,000.00 Y
59 MLC170 800366114 04/01/98 8.750 520,000.00 Y
59 MLC170 800366163 10/01/99 11.000 75,309.00 Y
59 MLC170 800366981 11/01/99 11.375 350,000.00 Y
59 MLC170 800370355 10/01/99 10.125 63,000.00 Y
59 MLC170 800372138 05/01/98 10.000 136,000.00 Y
59 MLC170 800372898 11/01/99 13.125 86,000.00 Y
59 MLC170 800375297 11/01/99 11.875 57,700.00 Y
59 MLC170 800386534 11/01/99 10.875 186,883.00 Y
59 MLC170 800388191 11/01/99 12.750 53,000.00 Y
59 MLC170 800388480 10/01/99 10.000 160,500.00 Y
59 MLC170 800394256 05/01/98 6.875 472,000.00 Y
59 MLC170 800394843 05/01/98 10.375 196,000.00 Y
59 MLC170 800394959 11/01/99 10.000 184,000.00 Y
59 MLC170 800395030 11/01/99 11.250 105,500.00 Y
59 MLC170 800400350 05/01/98 10.125 158,000.00 N
59 MLC170 800402091 11/01/99 10.125 170,000.00 Y
59 MLC170 800405623 05/01/98 11.250 75,000.00 Y
59 MLC170 800407058 11/01/99 13.375 28,000.00 Y
59 MLC170 800407355 11/01/99 10.500 114,900.00 Y
59 MLC170 800407546 11/01/99 12.125 70,000.00 Y
59 MLC170 800408965 11/01/99 11.500 66,000.00 Y
59 MLC170 800409120 04/01/98 12.375 112,000.00 Y
59 MLC170 800410508 05/01/98 11.750 152,000.00 Y
59 MLC170 800413627 11/01/99 10.250 125,000.00 Y
59 MLC170 800414286 11/01/99 13.750 110,000.00 Y
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
Alliance Funding Sale Schedule B - Group 2, Sub-Pool IV Page 2 12/18/97
A division of Superior Bank FSB 1997-4 Class 2 - Initial Pool of Adjustable Rate Mortgages - Settlement 12/22/97
Principal Type of Scheduled Cut-off Date Original
Balance at Mortgaged Payment Principal LTV
Pool ID Sale ID Account Name Origination Property Int & Prin Balance Ratio
- -------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C>
59 MLC170 800418378 MATTHEWS ROBERT T 68,000.00 1 559.42 68,000.00 65.3
59 MLC170 800421240 LOFFIO DANIEL E 153,000.00 1 1,515.15 153,000.00 85.0
59 MLC170 800422347 HARRIS WILLIAM C 189,600.00 1 1,542.65 189,600.00 80.0
59 MLC170 800425274 KING MAUREEN A 46,350.00 7 447.29 46,350.00 90.0
59 MLC170 800427692 FORSYTHE VIOLET 54,500.00 1 565.84 54,500.00 66.4
59 MLC170 800427932 WAY DONALD R 84,000.00 1 888.36 84,000.00 80.0
59 MLC170 800428310 MUSARRA LINDA 200,000.00 3 1,848.19 200,000.00 71.4
59 MLC170 800428807 ADEL STEVEN W 240,000.00 1 2,491.79 239,728.76 80.0
59 MLC170 800429326 KATZENMOYER GREG 24,300.00 1 186.85 24,300.00 90.0
59 MLC170 800430282 HOUSTON JUNE H 44,000.00 1 423.18 43,984.74 89.9
59 MLC172 800200933 RODRIGUEZ JUAN R 53,550.00 3 545.67 53,486.07 85.0
59 MLC172 800220626 MEDICH THOMAS P 90,000.00 1 899.86 89,943.76 85.7
59 MLC172 800242414 RICHARDS JAMES R JR 80,000.00 1 709.46 79,930.58 79.2
59 MLC172 800254583 ROMBOLETTI RICHARD J 92,720.00 1 796.61 92,633.13 80.0
59 MLC172 800273781 WILLIAMS STEVEN A 207,200.00 1 1,934.18 207,122.00 80.0
59 MLC172 800274011 GRIECO FRANCES 120,000.00 1 1,315.72 119,943.26 73.1
59 MLC172 800278327 SPRIGGS LOU 45,900.00 1 441.46 45,867.99 85.0
59 MLC172 800283111 HUMASON ANDREA L 72,250.00 4 743.18 72,208.43 85.0
59 MLC172 800284572 ECHON DAVID 56,000.00 3 501.82 55,952.82 66.6
59 MLC172 800286916 LUCKENBILL SCOTT J 56,000.00 3 641.44 55,988.56 80.0
59 MLC172 800287435 SCHMOOCK RAYMOND J 80,000.00 1 672.68 79,960.65 48.7
59 MLC172 800288193 BAIO JOSEPH 37,600.00 1 390.38 37,589.54 80.0
59 MLC172 800293292 THOMSEN MICHELLE 59,400.00 1 611.00 59,383.00 84.9
59 MLC172 800296659 MCALONEY CHARLES A 16,745.00 1 170.63 16,733.74 83.7
59 MLC172 800304644 SWEENEY ROBERT P 39,000.00 1 356.75 38,984.50 79.7
59 MLC172 800308512 STAMM JAMES 63,900.00 1 549.00 63,900.00 90.0
59 MLC172 800314692 PADULA WILLIAM P 25,500.00 4 216.75 25,500.00 85.0
59 MLC172 800317133 CAMPELLONE DIANE L 167,300.00 1 1,640.82 167,189.56 89.9
59 MLC172 800322760 SCHUMACHER PAUL E III 123,250.00 1 1,315.39 123,218.46 85.0
59 MLC172 800323164 KOHNEN DYANE 444,399.00 8 4,023.62 444,399.00 85.0
59 MLC172 800324220 KETCHUM MARVIN 39,920.00 1 461.18 39,912.08 80.0
59 MLC172 800325334 MOYER RANDY L 96,000.00 1 1,109.04 95,861.70 80.0
59 MLC172 800326688 NAPOLI ROCKY 151,200.00 1 1,340.88 151,200.00 90.0
59 MLC172 800327058 MYERS JOSEPH E 23,375.00 1 220.40 23,375.00 85.0
59 MLC172 800329815 PRESLAR WESLEY M 195,500.00 3 1,843.35 195,428.37 85.0
59 MLC172 800331365 CROOKSTON FRANK C 52,000.00 1 534.88 52,000.00 80.0
59 MLC172 800332223 VARNADOE TONDRA 91,800.00 1 822.62 91,800.00 90.0
59 MLC172 800332306 CURRAN P DAVID 92,000.00 1 928.66 91,972.17 80.0
59 MLC172 800332736 STEEN JAMES 77,600.00 1 820.67 77,600.00 80.0
59 MLC172 800333411 DADDATO WILLIAM V 122,500.00 1 1,052.46 122,442.85 89.4
59 MLC172 800335325 OPPENHEIM ARTHUR 140,000.00 1 1,426.60 139,917.23 63.0
59 MLC172 800336653 SAYLOR DONALD F JR 88,000.00 1 692.30 87,791.67 80.0
59 MLC172 800339939 PIERRO JOHN A 61,875.00 8 600.97 61,875.00 75.0
59 MLC172 800340085 DAVIS ARLITHA M 69,955.00 1 633.38 69,955.00 85.0
59 MLC172 800341976 PEREZ JOSE 140,250.00 1 1,322.40 140,250.00 85.0
59 MLC172 800343600 GRECO ANTHONY J SR 69,700.00 1 676.97 69,676.47 85.0
59 MLC172 800344780 HAIGOOD-ASHE WENDY V 40,680.00 4 320.03 40,656.60 90.0
59 MLC172 800347296 JALLAH PETRINA V 42,500.00 1 420.88 42,486.41 81.7
59 MLC172 800348641 CURRY JOSEPH R 139,000.00 1 1,207.00 138,936.85 42.7
59 MLC172 800354722 MCGARTY STEPHEN F 116,500.00 1 1,054.80 116,500.00 67.3
59 MLC172 800355653 GARDNER CINDEE D 236,000.00 1 1,962.93 235,880.82 67.4
59 MLC172 800355901 BOYER EDWARD T 25,000.00 1 245.19 24,991.79 35.2
59 MLC172 800359168 LOWERY MARILYN R 38,250.00 1 360.66 38,221.83 90.0
59 MLC172 800360489 ALLEN PATRICK R 97,200.00 1 799.64 97,149.61 90.0
59 MLC172 800360588 DELLISOLA LINDA 124,950.00 1 1,085.00 124,893.23 85.0
59 MLC172 800361263 MALONEY TIMOTHY R 40,290.00 1 383.69 40,290.00 85.0
59 MLC172 800363830 VELEZ RUBEN 63,000.00 4 484.42 62,961.83 90.0
<CAPTION>
Next Current Property
Adjustment Mortgage Value at Owner
Pool ID Sale ID Account Date Rate Origination Occupied
- -------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C>
59 MLC170 800418378 11/01/99 9.250 104,000.00 Y
59 MLC170 800421240 11/01/99 11.500 180,000.00 Y
59 MLC170 800422347 11/01/99 9.125 237,000.00 Y
59 MLC170 800425274 11/01/99 10.000 51,500.00 Y
59 MLC170 800427692 11/01/99 12.125 82,000.00 Y
59 MLC170 800427932 11/01/99 12.375 105,000.00 Y
59 MLC170 800428310 05/01/98 10.625 280,000.00 Y
59 MLC170 800428807 01/01/98 12.125 300,000.00 Y
59 MLC170 800429326 05/01/98 8.500 27,000.00 Y
59 MLC170 800430282 11/01/99 11.125 48,900.00 Y
59 MLC172 800200933 07/01/99 11.875 63,000.00 Y
59 MLC172 800220626 09/01/99 11.625 105,000.00 Y
59 MLC172 800242414 09/01/99 10.125 101,000.00 Y
59 MLC172 800254583 09/01/99 9.750 115,900.00 Y
59 MLC172 800273781 10/01/99 10.750 259,000.00 Y
59 MLC172 800274011 10/01/99 12.875 164,000.00 Y
59 MLC172 800278327 10/01/99 11.125 54,000.00 Y
59 MLC172 800283111 09/01/99 12.000 85,000.00 Y
59 MLC172 800284572 10/01/99 10.250 84,000.00 N
59 MLC172 800286916 10/01/99 13.500 70,000.00 Y
59 MLC172 800287435 10/01/99 9.500 164,000.00 Y
59 MLC172 800288193 04/01/98 12.125 47,000.00 Y
59 MLC172 800293292 10/01/99 12.000 69,900.00 Y
59 MLC172 800296659 10/01/99 11.875 20,000.00 Y
59 MLC172 800304644 10/01/99 10.500 48,900.00 Y
59 MLC172 800308512 11/01/99 9.750 71,000.00 Y
59 MLC172 800314692 11/01/99 9.625 30,000.00 Y
59 MLC172 800317133 09/01/99 11.375 185,900.00 Y
59 MLC172 800322760 10/01/99 12.500 145,000.00 Y
59 MLC172 800323164 11/01/99 10.375 522,823.00 Y
59 MLC172 800324220 10/01/99 13.625 49,900.00 Y
59 MLC172 800325334 10/01/99 13.625 120,000.00 Y
59 MLC172 800326688 11/01/99 10.125 168,000.00 Y
59 MLC172 800327058 11/01/99 10.875 27,500.00 Y
59 MLC172 800329815 10/01/99 10.875 230,000.00 Y
59 MLC172 800331365 11/01/99 12.000 65,000.00 Y
59 MLC172 800332223 11/01/99 10.250 102,000.00 Y
59 MLC172 800332306 10/01/99 11.750 115,000.00 Y
59 MLC172 800332736 11/01/99 12.375 97,000.00 Y
59 MLC172 800333411 11/01/99 9.750 137,000.00 Y
59 MLC172 800335325 04/01/98 11.875 222,000.00 Y
59 MLC172 800336653 10/01/99 8.750 110,000.00 Y
59 MLC172 800339939 11/01/99 11.250 82,500.00 Y
59 MLC172 800340085 11/01/99 10.375 82,300.00 Y
59 MLC172 800341976 11/01/99 10.875 165,000.00 Y
59 MLC172 800343600 10/01/99 11.250 82,000.00 Y
59 MLC172 800344780 04/01/98 8.750 45,200.00 Y
59 MLC172 800347296 10/01/99 11.500 52,000.00 Y
59 MLC172 800348641 10/01/99 9.875 325,000.00 Y
59 MLC172 800354722 05/01/98 10.375 173,000.00 Y
59 MLC172 800355653 11/01/99 9.375 350,000.00 Y
59 MLC172 800355901 10/01/99 11.375 71,000.00 Y
59 MLC172 800359168 10/01/99 10.875 42,500.00 Y
59 MLC172 800360489 11/01/99 9.250 108,000.00 Y
59 MLC172 800360588 11/01/99 9.875 147,000.00 Y
59 MLC172 800361263 11/01/99 11.000 47,400.00 Y
59 MLC172 800363830 05/01/98 8.500 70,000.00 Y
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
Alliance Funding Sale Schedule B - Group 2, Sub-Pool IV Page 3 12/18/97
A division of Superior Bank FSB 1997-4 Class 2 - Initial Pool of Adjustable Rate Mortgages - Settlement 12/22/97
Principal Type of Scheduled Cut-off Date Original
Balance at Mortgaged Payment Principal LTV
Pool ID Sale ID Account Name Origination Property Int & Prin Balance Ratio
- ------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C>
59 MLC172 800364721 BROWN JOAN 123,300.00 3 1,221.03 123,260.59 90.0
59 MLC172 800364788 FEICHTINGER FRANZ J 396,000.00 1 3,622.37 395,842.63 90.0
59 MLC172 800364952 EVANS ALFUQUAN R 80,000.00 3 877.15 79,981.18 80.0
59 MLC172 800365660 PRICKLER ROBERT W 41,600.00 1 448.02 41,600.00 80.0
59 MLC172 800367419 ECCLES KEITH S 112,000.00 1 891.12 111,937.21 73.2
59 MLC172 800368334 ALSTON NINA 72,250.00 1 778.11 72,232.02 85.0
59 MLC172 800370694 SEAY DARLENE B 67,900.00 1 540.24 67,861.94 70.0
59 MLC172 800373466 NEWLON GREIGG W 111,150.00 8 914.40 111,150.00 90.0
59 MLC172 800373847 PARLOW CHARLES P 130,000.00 1 1,312.23 129,960.69 80.0
59 MLC172 800376923 DILEONARDO FRANCESCO 178,500.00 1 1,784.71 178,444.51 85.0
59 MLC172 800379760 MASTROBERTI HOWARD A 75,000.00 4 742.72 74,951.83 75.0
59 MLC172 800380370 CORRIGAN ERIC M 48,750.00 2 405.48 48,675.38 65.0
59 MLC172 800381295 LEYDEN EDWARD M 54,400.00 7 589.54 54,343.13 85.0
59 MLC172 800381840 SEDGWICK WILLIAM C III 97,300.00 1 945.04 97,233.99 84.9
59 MLC172 800384810 ACUFF GREGORY M 170,000.00 8 1,602.92 169,937.71 85.0
59 MLC172 800385452 MAMANE ABDOU 128,900.00 3 1,119.30 128,900.00 85.9
59 MLC172 800385932 ROCHESTER VINCENT A 220,000.00 1 1,930.66 219,804.53 80.0
59 MLC172 800386864 BOYER BARRY R 95,000.00 1 798.81 94,953.27 81.8
59 MLC172 800387250 SPENCER MATTHEW 46,000.00 1 477.59 45,987.20 45.0
59 MLC172 800387797 ARNOLD ELMER W 89,100.00 1 773.70 89,100.00 90.0
59 MLC172 800387946 ALSTON BOBBY JOE 73,800.00 1 620.55 73,800.00 90.0
59 MLC172 800388241 KEEL WILLIAM H 43,440.00 6 517.86 43,440.00 80.0
59 MLC172 800389108 STEVENSON JAMES D 65,000.00 7 648.95 65,000.00 68.4
59 MLC172 800390460 BASS MISHA W. 52,200.00 7 521.15 52,200.00 90.0
59 MLC172 800394504 DANIEL ETHELBERT E 343,960.00 1 3,146.34 343,823.31 85.9
59 MLC172 800396608 HUGHES CARL A 40,500.00 1 366.69 40,483.47 90.0
59 MLC172 800399560 ALBERT KEVIN A 65,000.00 3 482.62 65,000.00 53.7
59 MLC172 800399990 MOORE SHAWN 73,500.00 7 783.83 73,500.00 84.4
59 MLC172 800400616 MILLER ROBERT S 399,500.00 8 3,214.47 399,500.00 85.0
59 MLC172 800403818 MCCUSKER CHARLES 95,200.00 1 942.76 95,200.00 80.0
59 MLC172 800403834 TRABACCONE MARILYN M 240,000.00 8 2,150.64 240,000.00 80.0
59 MLC172 800404808 LENZ MICHAEL 274,850.00 4 1,992.85 274,660.85 85.8
59 MLC172 800404873 COOPER BARBARA D 128,000.00 1 1,267.57 128,000.00 80.0
59 MLC172 800417180 OGLETREE SALLIE M 57,600.00 1 521.51 57,600.00 80.0
--------------------------------------------------- ----------------------------------------
148 Sale Total 17,207,834.00 158,669.59 17,201,870.11 81.1
60 CPI1 55251 PRZYBYLA ROBERT H 50,000.00 1 373.51 46,828.85 44.2
60 CPI1 58313 HANSEN MARVIN M 71,000.00 1 454.63 64,033.96 75.5
60 CPI1 59998 BERRY DAVID C 88,550.00 1 574.34 84,262.03 79.0
60 CPI1 60145 CLANCY MAUREEN 132,000.00 4 878.20 125,883.33 66.0
60 CPI1 60301 SLUKA GEORGINA 100,000.00 1 640.32 94,935.11 76.3
60 CPI1 60392 KRUPICKA MARLENE 45,000.00 1 295.62 42,868.26 37.5
60 CPI1 60400 FRANKEL RICHARD S 196,700.00 1 1,292.18 187,599.71 70.0
60 CPI1 60533 GEISLER LISA A 50,000.00 2 332.66 47,628.09 69.4
60 CPI1 60558 RHODES JOEL 61,000.00 2 400.73 58,015.98 89.7
60 CPI1 60749 SCHNEEBERGER KARL R 139,900.00 1 919.05 133,427.22 79.4
60 CPI1 60806 RANGASWAMY KRISHNASWA 117,000.00 1 1,043.47 3,233.23 61.5
60 CPI1 71233 GOODWIN NATALIE 120,500.00 1 918.37 116,200.61 92.6
60 CPI1 500553 MILTON ROSEMARY 140,000.00 3 1,040.31 131,676.85 74.8
60 CPI1 501080 SACCO ANTHONY G 34,400.00 2 259.02 32,507.09 80.0
60 CPI1 501437 KNITTER WALTER W 104,000.00 1 783.75 98,360.20 80.0
60 CPI1 503490 CARGERMAN MARK 322,000.00 1 2,223.98 305,680.90 70.0
60 CPI1 503656 SHEN ROBERT B 68,000.00 1 452.41 64,549.62 41.7
60 CPI1 504225 CONWAY MARK K 152,000.00 1 998.54 144,289.58 80.0
60 CPI1 504662 FULTON C EDWARD 455,000.00 1 3,027.13 431,914.61 70.0
60 CPI1 504811 HILL ERIC S 118,200.00 1 756.85 111,548.13 89.8
60 CPI1 504936 KALOUSDIAN RAFFI 220,000.00 2 1,426.92 209,347.45 80.0
<CAPTION>
Next Current Property
Adjustment Mortgage Value at Owner
Pool ID Sale ID Account Date Rate Origination Occupied
- ----------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C>
59 MLC172 800364721 10/01/99 11.500 137,000.00 Y
59 MLC172 800364788 10/01/99 10.500 440,000.00 Y
59 MLC172 800364952 10/01/99 12.875 100,000.00 Y
59 MLC172 800365660 11/01/99 12.625 52,000.00 Y
59 MLC172 800367419 10/01/99 8.875 153,000.00 Y
59 MLC172 800368334 10/01/99 12.625 85,000.00 Y
59 MLC172 800370694 11/01/99 8.875 97,000.00 Y
59 MLC172 800373466 05/01/98 9.250 123,500.00 Y
59 MLC172 800373847 04/01/98 11.750 162,500.00 Y
59 MLC172 800376923 11/01/99 11.625 210,000.00 Y
59 MLC172 800379760 10/01/99 11.500 100,000.00 Y
59 MLC172 800380370 05/01/98 9.375 75,000.00 Y
59 MLC172 800381295 10/01/99 11.750 64,000.00 Y
59 MLC172 800381840 10/01/99 11.250 114,500.00 Y
59 MLC172 800384810 10/01/99 10.875 200,000.00 Y
59 MLC172 800385452 11/01/99 9.875 150,000.00 Y
59 MLC172 800385932 03/01/98 10.000 275,000.00 Y
59 MLC172 800386864 11/01/99 9.500 116,000.00 Y
59 MLC172 800387250 05/01/98 12.125 102,000.00 Y
59 MLC172 800387797 11/01/99 9.875 99,000.00 Y
59 MLC172 800387946 04/21/98 9.500 82,000.00 Y
59 MLC172 800388241 11/01/99 11.875 54,300.00 Y
59 MLC172 800389108 11/01/99 10.500 95,000.00 Y
59 MLC172 800390460 05/01/98 10.500 58,000.00 Y
59 MLC172 800394504 10/01/99 10.500 400,000.00 Y
59 MLC172 800396608 11/01/99 10.375 45,000.00 Y
59 MLC172 800399560 11/01/99 8.125 121,000.00 N
59 MLC172 800399990 11/01/99 11.500 87,000.00 Y
59 MLC172 800400616 05/01/98 9.000 470,000.00 Y
59 MLC172 800403818 11/01/99 11.500 119,000.00 Y
59 MLC172 800403834 05/01/98 10.250 300,000.00 Y
59 MLC172 800404808 05/01/98 7.875 320,000.00 Y
59 MLC172 800404873 11/01/99 11.500 160,000.00 Y
59 MLC172 800417180 11/01/99 10.375 72,000.00 Y
------------ --------------------------
148 10.539 21,569,915.00
60 CPI1 55251 10/01/98 8.375 113,000.00 Y
60 CPI1 58313 05/01/98 6.625 94,000.00 Y
60 CPI1 59998 10/01/98 6.750 112,000.00 Y
60 CPI1 60145 10/01/98 7.000 200,000.00 Y
60 CPI1 60301 09/01/98 6.625 131,000.00 Y
60 CPI1 60392 10/01/98 6.875 120,000.00 Y
60 CPI1 60400 11/01/98 6.875 281,000.00 Y
60 CPI1 60533 10/01/98 7.000 72,000.00 Y
60 CPI1 60558 09/01/98 6.875 68,000.00 Y
60 CPI1 60749 11/01/98 6.875 176,000.00 Y
60 CPI1 60806 11/01/98 6.875 190,000.00 Y
60 CPI1 71233 08/01/98 8.500 130,000.00 Y
60 CPI1 500553 09/01/98 8.250 187,000.00 Y
60 CPI1 501080 11/01/98 8.375 43,000.00 Y
60 CPI1 501437 11/01/98 8.375 130,000.00 Y
60 CPI1 503490 04/01/98 7.375 460,000.00 Y
60 CPI1 503656 06/01/98 7.000 163,000.00 N
60 CPI1 504225 07/01/98 6.875 190,000.00 Y
60 CPI1 504662 06/01/98 7.000 650,000.00 Y
60 CPI1 504811 06/01/98 6.625 131,500.00 Y
60 CPI1 504936 10/01/98 6.750 275,000.00 Y
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
Alliance Funding Sale Schedule B - Group 2, Sub-Pool IV Page 4 12/18/97
A division of Superior Bank FSB 1997-4 Class 2 - Initial Pool of Adjustable Rate Mortgages - Settlement 12/22/97
Principal Type of Scheduled Cut-off Date Original
Balance at Mortgaged Payment Principal LTV
Pool ID Sale ID Account Name Origination Property Int & Prin Balance Ratio
- -------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C>
60 CPI1 504944 HUSSELBEE BRIAN JOULES 328,500.00 1 2,076.35 310,324.94 90.0
60 CPI1 505073 RUBIN ROBERT S 334,500.00 1 2,253.59 314,797.36 74.3
60 CPI1 505644 REEKS PATRICK J 147,000.00 1 1,002.80 140,018.43 78.6
60 CPI1 505693 YESKEY NAOMI 118,800.00 2 770.54 113,047.46 90.0
60 CPI1 505818 STAPLETON MARK T 240,000.00 1 1,596.73 227,305.27 80.0
60 CPI1 505933 MOHL JEFFREY 472,000.00 3 3,100.71 449,505.97 80.0
60 CPI1 506014 CAPRARA JAMES A 207,900.00 1 1,263.23 196,423.18 90.0
60 CPI1 506113 HAYES PATRICK W 217,000.00 1 1,425.54 205,822.22 79.7
60 CPI1 506170 COHEN ALLEN R 150,000.00 1 985.40 138,475.29 68.1
60 CPI1 506196 FULTON C EDWARD 220,500.00 2 1,448.53 210,054.92 70.0
60 CPI1 506204 FULTON C EDWARD 240,300.00 1 1,578.60 228,879.48 68.6
60 CPI1 506212 FULTON C EDWARD 280,000.00 1 1,839.41 266,735.99 70.0
60 CPI1 506667 YOUSHAEI KOUROSH T 131,000.00 1 860.58 124,794.42 74.8
60 CPI1 506972 RANGEL JOSE A 103,500.00 3 671.30 98,371.28 90.0
60 CPI1 507004 TIMMERS KATHLEEN M 60,000.00 2 394.16 57,157.65 80.0
60 CPI1 507061 WOLIN HOWARD E 336,000.00 1 2,207.29 320,083.35 80.0
60 CPI1 507079 DOLAN BURTIS J III 308,000.00 1 1,997.69 293,086.40 80.0
60 CPI1 507228 FRANKLIN PAUL J 125,600.00 1 804.24 119,238.58 80.0
60 CPI1 507368 FRANKEL PAUL 390,000.00 1 2,529.54 368,899.54 69.6
60 CPI1 507434 AUGUST HOWARD S 100,000.00 1 648.60 95,157.96 75.4
60 CPI1 507442 NAATZ CHRISTOPHE C 133,950.00 1 846.66 126,802.95 89.8
60 CPI1 507491 MILLER SCOTT C 122,000.00 1 781.18 116,102.59 75.3
60 CPI1 507616 MIPANA JESUS G 62,400.00 1 552.19 48,562.68 80.0
60 CPI1 508069 KUJAWA GARY 95,200.00 1 617.47 90,661.98 80.0
60 CPI1 508580 FOROWYCZ ROMAN 203,150.00 1 1,300.80 193,000.20 78.1
60 SB581 161524442 LINDON TROY A 131,700.00 1 1,131.51 131,576.60 84.9
60 SB581 161535869 WRIGHT GREGORY S 103,500.00 1 946.76 103,417.38 90.0
60 SB581 161537493 CAMPBELL ELI H 185,200.00 1 1,591.15 185,113.60 74.9
60 SB581 161544895 SCHARLACH MICHAEL D 42,000.00 1 407.93 41,985.82 70.0
60 SB581 161546510 MALLORY YOLANDA 63,200.00 1 668.38 63,183.37 80.0
60 SB581 161546536 JACKSON ALVIN 162,900.00 4 1,354.92 162,817.74 90.0
60 SB581 161548961 GARRETT ROBERT 98,000.00 1 832.99 97,953.05 81.6
60 SB581 161549357 SWEET BRADLEY 114,300.00 1 1,013.64 114,250.77 90.0
60 SB581 161551429 BARKER PHILLIP LLOYD 71,200.00 1 678.05 71,174.62 80.0
60 SB581 161553094 FLETCHER BURTON C 242,200.00 1 2,238.16 242,200.00 84.9
60 SB581 161553193 BURNS ROBERT P 135,000.00 4 1,272.90 135,000.00 90.0
60 SB581 161553797 HASH JOHN 36,000.00 1 391.21 35,991.29 80.0
60 SB581 161554779 LICK STEVE 132,750.00 1 1,189.57 132,694.34 90.0
60 SB581 161554944 BAKER GEORGE B 20,900.00 1 212.97 20,893.85 59.7
60 SB581 161555800 CZARNECKI WILLIAM A 164,000.00 1 1,766.23 164,000.00 80.0
60 SB581 161556485 LILEY SHERRY G 57,600.00 1 526.89 57,600.00 90.0
60 SB581 161557087 GIROD ANDRE R 120,000.00 1 1,362.71 120,000.00 80.0
60 SB581 161557095 COOK TYRONE M 170,000.00 1 1,476.20 169,922.77 85.0
60 SB581 161557418 LEWIN MAURY 86,000.00 1 699.72 86,000.00 65.1
60 SB581 161559208 CURRY RICHARD A 107,100.00 1 900.55 107,047.33 90.0
60 SB581 161559372 SOMMER DONNA SUE 50,000.00 1 438.79 49,977.88 64.1
60 SB581 161560610 SORDI VICTOR E 70,000.00 1 633.78 69,971.43 89.7
60 SB581 161560867 WIEGERT JAMES 178,700.00 1 1,551.74 178,618.81 79.9
60 SB581 161561543 BENITEZ ARMANDO 148,500.00 3 1,344.53 148,500.00 90.0
60 SB581 161562806 CARTER ANGELYN POWELL 41,200.00 1 361.56 41,200.00 74.9
60 SB581 161563531 ROSS ROBERT 58,000.00 1 508.99 58,000.00 68.2
60 SB581 161563622 HUFF TRUDY 67,500.00 1 579.93 67,500.00 75.0
60 SB581 161564448 GLADNEY JEFFREY D 48,800.00 1 530.31 48,800.00 80.0
60 SB581 161565536 RIPULLO KATHLEEN A 45,000.00 1 370.20 44,976.67 44.5
60 SB581 161565551 HULIT KENNETH J 147,600.00 1 1,241.10 147,527.40 80.0
60 SB581 161566732 MARCUS BRUCE T 658,000.00 1 5,713.74 657,701.05 70.0
60 SB581 161566963 MEADER YVONNE 62,200.00 1 574.79 62,175.94 74.9
<CAPTION>
Next Current Property
Adjustment Mortgage Value at Owner
Pool ID Sale ID Account Date Rate Origination Occupied
- -----------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C>
60 CPI1 504944 07/01/98 6.500 365,000.00 Y
60 CPI1 505073 09/01/98 7.125 450,000.00 Y
60 CPI1 505644 07/01/98 7.250 187,000.00 Y
60 CPI1 505693 10/01/98 6.750 132,000.00 Y
60 CPI1 505818 08/01/98 7.000 300,000.00 Y
60 CPI1 505933 10/01/98 6.875 590,000.00 Y
60 CPI1 506014 09/01/98 6.125 231,000.00 Y
60 CPI1 506113 08/01/98 6.875 272,000.00 Y
60 CPI1 506170 10/01/98 6.875 220,000.00 Y
60 CPI1 506196 10/01/98 6.875 315,000.00 N
60 CPI1 506204 10/01/98 6.875 350,000.00 N
60 CPI1 506212 10/01/98 6.875 400,000.00 N
60 CPI1 506667 10/01/98 6.875 175,000.00 Y
60 CPI1 506972 10/01/98 6.750 115,000.00 Y
60 CPI1 507004 10/01/98 6.875 75,000.00 Y
60 CPI1 507061 10/01/98 6.875 420,000.00 Y
60 CPI1 507079 10/01/98 6.750 385,000.00 Y
60 CPI1 507228 10/01/98 6.625 157,000.00 Y
60 CPI1 507368 11/01/98 6.750 560,000.00 Y
60 CPI1 507434 10/01/98 6.750 132,500.00 Y
60 CPI1 507442 11/01/98 6.500 149,000.00 Y
60 CPI1 507491 11/01/98 6.625 162,000.00 Y
60 CPI1 507616 10/01/98 6.750 78,000.00 Y
60 CPI1 508069 11/01/98 6.750 119,000.00 Y
60 CPI1 508580 11/01/98 6.625 260,000.00 Y
60 SB581 161524442 09/01/99 9.750 155,000.00 Y
60 SB581 161535869 10/01/99 10.500 115,000.00 Y
60 SB581 161537493 10/01/99 9.750 247,000.00 Y
60 SB581 161544895 10/01/99 11.250 60,000.00 Y
60 SB581 161546510 04/01/98 12.375 79,000.00 Y
60 SB581 161546536 10/01/99 9.375 181,000.00 Y
60 SB581 161548961 10/01/99 9.625 120,000.00 Y
60 SB581 161549357 04/01/98 10.125 127,000.00 Y
60 SB581 161551429 04/01/98 11.000 89,000.00 Y
60 SB581 161553094 11/01/99 10.625 285,000.00 Y
60 SB581 161553193 11/01/99 10.875 150,000.00 Y
60 SB581 161553797 11/01/99 12.750 45,000.00 Y
60 SB581 161554779 04/01/98 10.250 147,500.00 Y
60 SB581 161554944 10/01/99 11.875 35,000.00 Y
60 SB581 161555800 11/01/99 12.625 205,000.00 Y
60 SB581 161556485 11/01/99 10.500 64,000.00 Y
60 SB581 161557087 11/01/99 13.375 150,000.00 Y
60 SB581 161557095 10/01/99 9.875 200,000.00 Y
60 SB581 161557418 11/01/99 9.125 132,000.00 Y
60 SB581 161559208 05/01/98 9.500 119,000.00 Y
60 SB581 161559372 05/01/98 10.000 78,000.00 Y
60 SB581 161560610 10/01/99 10.375 78,000.00 Y
60 SB581 161560867 11/01/99 9.875 223,400.00 Y
60 SB581 161561543 11/01/99 10.375 165,000.00 Y
60 SB581 161562806 05/01/98 10.000 55,000.00 Y
60 SB581 161563531 11/01/99 10.000 85,000.00 Y
60 SB581 161563622 11/01/99 9.750 90,000.00 Y
60 SB581 161564448 11/01/99 12.750 61,000.00 Y
60 SB581 161565536 05/01/98 9.250 101,000.00 Y
60 SB581 161565551 10/01/99 9.500 184,500.00 Y
60 SB581 161566732 04/01/98 9.875 940,000.00 Y
60 SB581 161566963 10/01/99 10.625 83,000.00 Y
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
Alliance Funding Sale Schedule B - Group 2, Sub-Pool IV Page 5 12/18/97
A division of Superior Bank FSB 1997-4 Class 2 - Initial Pool of Adjustable Rate Mortgages - Settlement 12/22/97
Principal Type of Scheduled Cut-off Date Original
Balance at Mortgaged Payment Principal LTV
Pool ID Sale ID Account Name Origination Property Int & Prin Balance Ratio
- --------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C>
60 SB581 161568811 MILLER LESLIE L 147,500.00 1 1,335.48 147,500.00 88.0
60 SB581 161568845 BOWEN JOHN R 68,000.00 1 547.14 68,000.00 80.0
60 SB581 161570254 SALEH HALIMEH 118,400.00 1 952.67 118,270.17 80.0
60 SB581 161570304 GLENN DONALD E 780,000.00 1 6,558.66 780,000.00 65.0
60 SB581 161571807 VELA JOSE LUIS JR 95,200.00 3 1,006.80 95,200.00 80.0
60 SB581 161571815 MAJOR WILLIAM J 97,700.00 1 857.39 97,656.78 84.9
60 SB581 161572938 KING PAUL C JR 66,000.00 1 622.31 66,000.00 86.5
60 SB581 161573308 ONA RENE 165,000.00 1 1,540.24 165,000.00 75.0
60 SB581 161573738 VAN BUREN PHILIP V 243,000.00 1 2,132.50 243,000.00 89.3
60 SB581 161573811 ESTEP CHRISTOPHE 54,000.00 1 488.92 54,000.00 90.0
60 SB581 161574702 WINSTON DERRICK 130,500.00 1 1,181.56 130,500.00 90.0
60 SB581 161574744 HENDERSON TROY H 48,400.00 5 507.18 48,400.00 55.0
60 SB581 161574876 NOVECK MARTIN I 220,000.00 1 2,262.95 219,937.05 64.9
60 SB581 161575022 SEARS KIMBERLY A 51,300.00 1 464.47 51,300.00 90.0
60 SB581 161575121 SWEEZY JOHN FRANK 60,000.00 1 472.02 60,000.00 60.0
60 SB581 161575147 PARSON WILLIAM R 94,300.00 1 906.96 94,300.00 84.9
60 SB581 161577036 WHITTED ANNIE P 56,800.00 1 617.24 56,786.26 80.0
60 SB581 161577226 PONIKIEWSKI KRIS J 175,000.00 1 1,584.46 175,000.00 70.0
60 SB581 161578562 MCCULLOUGH GEORGE 81,000.00 1 622.82 81,000.00 90.0
60 SB581 161578752 URBAN KENNETH L 67,900.00 1 737.86 67,883.58 79.9
60 SB581 161579305 WISNIEWSKI MARK D 117,000.00 1 983.80 117,000.00 90.0
60 SB581 161579958 BRIDGES ELIZABETH 57,600.00 1 598.03 57,600.00 80.0
60 SB581 161580733 RUFF PATRICIA ANN 166,500.00 4 1,507.50 166,500.00 90.0
60 SB581 161581285 BREWBAKER MARLENE D 195,500.00 1 1,880.28 195,432.17 85.0
60 SB581 161585435 KASSIM MUSAED 24,000.00 3 215.07 24,000.00 80.0
60 SB581 161587944 GROSE MICHEAL J 124,000.00 1 1,347.50 123,970.00 80.0
60 SB583 161555339 BELL CALVIN 57,200.00 1 621.59 57,200.00 80.0
60 SB583 161559786 CHRISTMAS DELORES 56,000.00 1 608.55 56,000.00 80.0
60 SB583 161559869 BRADLEY CARL JR 295,300.00 1 2,812.21 295,300.00 84.9
60 SB583 161565312 LOCKETT CAROLYN 58,000.00 1 541.42 58,000.00 79.4
60 SB583 161575659 HERAMB RONALD J 85,000.00 1 785.48 85,000.00 85.0
60 SB583 161578489 CARROLL PETER J 131,200.00 1 1,362.18 131,200.00 80.0
60 SB583 161578877 BRYAN DAVID 47,200.00 1 512.92 47,200.00 80.0
60 SB583 161579982 WOLFE FLOYD T 48,000.00 1 521.61 48,000.00 71.1
60 SB583 161580790 KIMBROUGH CAROL A 71,200.00 3 651.29 71,200.00 74.9
60 SB583 161581368 MCFARLAND KIMBERLY D 43,200.00 1 469.45 43,200.00 80.0
60 SB583 161584560 LEE EDWARD 50,100.00 3 394.14 50,100.00 84.9
60 SB583 161584727 MEADOWS FREDRICK D 36,800.00 1 399.90 36,800.00 76.6
60 SB583 161587043 STEVENSON REGINALD 64,800.00 1 704.18 64,800.00 80.0
60 SB583 161588173 BARRETT PATRICK E 75,200.00 1 817.19 75,200.00 80.0
60 SB583 161589338 MAYS LESLIE 99,400.00 1 1,012.89 99,400.00 84.9
60 SB583 161589437 TRENT BENNETT G JR 76,000.00 2 659.95 76,000.00 79.1
60 SB583 161590955 BORDON DOROTHY A 140,000.00 1 1,386.41 140,000.00 70.0
60 SB583 161591391 ENGLAND BRIAN K 54,400.00 1 585.87 54,400.00 80.0
60 SB583 161591573 KILGORE JONAH 80,500.00 1 640.49 80,500.00 84.7
60 SB583 161591649 HARDRICK PATRICIA 112,000.00 1 1,217.10 112,000.00 80.0
60 SB583 161591995 SEYDEL GREGG P 100,000.00 1 1,067.26 100,000.00 80.0
60 SB583 161594759 EICHHORST BRUCE 200,000.00 1 2,310.51 200,000.00 80.0
60 SB583 161596028 CARLI KATHLEEN A 127,200.00 1 1,320.65 127,200.00 80.0
60 SB583 161602263 SANDOVAL GUILLERMO 146,400.00 4 1,125.69 146,400.00 80.0
60 SB583 161604533 RODISH GERALD 100,800.00 1 1,174.43 100,800.00 80.0
60 SBC582 800195075 NAVENTA JAIME 120,000.00 3 1,030.99 119,715.47 85.7
60 SBC582 800223166 EMMER BRUCE 192,500.00 3 1,980.08 192,161.14 70.0
60 SBC582 800243545 KLEIN ALEXANDRIA 266,000.00 4 2,433.21 265,680.09 76.0
60 SBC582 800259459 BRAZAK LAURA J 28,000.00 1 261.37 27,889.80 80.0
60 SBC582 800261604 SPRANKLE JEFFREY LYNN 55,880.00 7 674.68 55,787.42 80.9
60 SBC582 800272379 JIMINEZ MARIA 116,450.00 1 1,197.82 116,383.03 81.1
<CAPTION>
Next Current Property
Adjustment Mortgage Value at Owner
Pool ID Sale ID Account Date Rate Origination Occupied
- -----------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C>
60 SB581 161568811 11/01/99 10.375 167,500.00 Y
60 SB581 161568845 05/01/98 9.000 85,000.00 Y
60 SB581 161570254 04/01/98 9.000 148,000.00 Y
60 SB581 161570304 06/01/98 9.500 1,200,000.00 Y
60 SB581 161571807 05/01/98 12.375 119,000.00 Y
60 SB581 161571815 11/01/99 10.000 115,000.00 Y
60 SB581 161572938 11/01/99 10.875 76,300.00 Y
60 SB581 161573308 05/01/98 10.750 220,000.00 Y
60 SB581 161573738 11/01/99 10.000 272,000.00 Y
60 SB581 161573811 11/01/99 10.375 60,000.00 Y
60 SB581 161574702 11/01/99 10.375 145,000.00 Y
60 SB581 161574744 11/01/99 12.250 88,000.00 N
60 SB581 161574876 11/01/99 12.000 338,500.00 Y
60 SB581 161575022 11/01/99 10.375 57,000.00 Y
60 SB581 161575121 05/01/98 8.750 100,000.00 Y
60 SB581 161575147 11/01/99 11.125 111,000.00 Y
60 SB581 161577036 11/01/99 12.750 71,000.00 Y
60 SB581 161577226 11/01/99 10.375 250,000.00 Y
60 SB581 161578562 05/01/98 8.500 90,000.00 Y
60 SB581 161578752 11/01/99 12.750 84,900.00 Y
60 SB581 161579305 05/01/98 9.500 130,000.00 Y
60 SB581 161579958 11/01/99 12.125 72,000.00 Y
60 SB581 161580733 11/01/99 10.375 185,000.00 Y
60 SB581 161581285 11/01/99 11.125 230,000.00 Y
60 SB581 161585435 11/01/99 10.250 30,000.00 Y
60 SB581 161587944 11/01/99 12.750 155,000.00 Y
60 SB583 161555339 11/01/99 12.750 71,500.00 Y
60 SB583 161559786 12/01/99 12.750 70,000.00 Y
60 SB583 161559869 12/01/99 11.000 347,500.00 Y
60 SB583 161565312 12/01/99 10.750 73,000.00 Y
60 SB583 161575659 11/01/99 10.625 100,000.00 Y
60 SB583 161578489 12/01/99 12.125 164,000.00 Y
60 SB583 161578877 11/01/99 12.750 59,000.00 Y
60 SB583 161579982 12/01/99 12.750 67,500.00 Y
60 SB583 161580790 11/01/99 10.500 95,000.00 N
60 SB583 161581368 12/01/99 12.750 54,000.00 Y
60 SB583 161584560 11/01/99 8.750 59,000.00 Y
60 SB583 161584727 11/01/99 12.750 48,000.00 Y
60 SB583 161587043 11/01/99 12.750 81,000.00 Y
60 SB583 161588173 12/01/99 12.750 94,000.00 Y
60 SB583 161589338 12/01/99 11.875 117,000.00 Y
60 SB583 161589437 06/01/98 9.875 96,000.00 Y
60 SB583 161590955 12/01/99 11.500 200,000.00 Y
60 SB583 161591391 12/01/99 12.625 68,000.00 Y
60 SB583 161591573 06/01/98 8.875 95,000.00 Y
60 SB583 161591649 12/01/99 12.750 140,000.00 Y
60 SB583 161591995 12/01/99 12.500 125,000.00 Y
60 SB583 161594759 12/01/99 13.625 250,000.00 Y
60 SB583 161596028 12/01/99 12.125 159,000.00 Y
60 SB583 161602263 06/01/98 8.500 183,000.00 N
60 SB583 161604533 12/01/99 13.750 126,000.00 Y
60 SBC582 800195075 06/01/99 9.750 140,000.00 Y
60 SBC582 800223166 05/01/99 12.000 275,000.00 Y
60 SBC582 800243545 08/01/99 10.500 350,000.00 N
60 SBC582 800259459 09/01/99 10.750 35,000.00 Y
60 SBC582 800261604 09/01/99 13.500 69,000.00 Y
60 SBC582 800272379 09/01/99 12.000 143,500.00 Y
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
Alliance Funding Sale Schedule B - Group 2, Sub-Pool IV Page 6 12/18/97
A division of Superior Bank FSB 1997-4 Class 2 - Initial Pool of Adjustable Rate Mortgages - Settlement 12/22/97
Principal Type of Scheduled Cut-off Date Original
Balance at Mortgaged Payment Principal LTV
Pool ID Sale ID Account Name Origination Property Int & Prin Balance Ratio
- -------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C>
60 SBC582 800283905 BARTHWAITE EARL 139,500.00 3 1,198.53 139,369.32 90.0
60 SBC582 800298994 BANFUL ISAAC 238,000.00 3 2,402.39 238,000.00 85.0
60 SBC582 800314676 HARRY JAMES E 40,500.00 1 362.92 40,483.02 90.0
60 SBC582 800316572 HOLLOWELL PAUL DAVID 304,000.00 1 3,068.60 304,000.00 80.0
60 SBC582 800323255 AVALONE JAMES W 49,600.00 1 539.00 49,600.00 80.0
60 SBC582 800323636 MOON CASS 69,300.00 3 659.96 69,300.00 90.0
60 SBC582 800330722 LEVINE IRA 263,500.00 1 2,410.34 263,395.29 85.0
60 SBC582 800330797 SOUSA PAULO 124,000.00 4 1,371.69 124,000.00 80.0
60 SBC582 800331480 MUMAW MARK J 26,350.00 1 250.94 26,350.00 85.0
60 SBC582 800334070 PAGLIA EDMUND L JR 234,000.00 1 2,010.42 233,780.76 90.0
60 SBC582 800338402 GOLDENBERG BORIS 200,000.00 4 1,848.20 200,000.00 80.0
60 SBC582 800340952 SARKI ADNAN 228,600.00 1 2,177.01 228,436.23 90.0
60 SBC582 800342115 VLACICH MARINO 220,500.00 3 1,975.90 220,500.00 90.0
60 SBC582 800349292 THOMAS ELOISE 66,500.00 1 696.85 66,500.00 70.0
60 SBC582 800349342 RHETT ROBERT R 223,550.00 1 1,941.19 223,448.44 85.0
60 SBC582 800352841 JOSEPH MARIE JOCELYNE 136,000.00 1 1,385.84 136,000.00 81.4
60 SBC582 800354011 HARCHAR ROBERT D 76,700.00 1 788.95 76,700.00 65.0
60 SBC582 800354060 GARCIA ARACELY 205,200.00 1 1,800.78 205,200.00 90.0
60 SBC582 800357857 CUERVO DENNIS 144,000.00 1 1,250.42 143,934.58 80.0
60 SBC582 800365645 ORTEGA MERCEDES 103,950.00 8 902.65 103,950.00 90.0
60 SBC582 800367757 TAYLOR TODD 112,000.00 1 1,249.90 111,949.93 80.0
60 SBC582 800370256 LOFTUS MARY ANN 59,900.00 1 476.59 59,900.00 80.9
60 SBC582 800370652 SHAH MOHAMMAD 157,500.00 3 1,440.71 157,500.00 90.0
60 SBC582 800370736 TERRY CORLYS 115,000.00 3 1,149.82 115,000.00 66.0
60 SBC582 800371767 PYDANA ROBERT 182,750.00 3 1,470.45 182,750.00 85.0
60 SBC582 800374753 TURNER FRED G 64,000.00 1 573.50 64,000.00 80.0
60 SBC582 800376915 DAILEY JANICE 24,500.00 1 199.34 24,500.00 70.0
60 SBC582 800382871 INGO SAMUEL A JR 98,100.00 1 851.85 98,100.00 90.0
60 SBC582 800383226 GRANT RICHARD A 86,400.00 1 905.38 86,376.62 80.0
60 SBC582 800386211 WILSON MARY ANN 36,000.00 1 419.44 35,993.06 80.0
60 SBC582 800389090 ZAMORA SERGIO 92,174.00 1 783.47 92,129.84 85.0
60 SBC582 800391534 NARVESEN ERIC 244,000.00 3 2,486.36 243,928.27 80.0
60 SBC582 800392037 FERRER ALEXANDRA 232,200.00 3 1,910.25 232,079.62 90.0
60 SBC582 800392656 UNDERWOOD EDDIE W 34,000.00 7 342.31 34,000.00 52.3
60 SBC582 800397176 WEBB DALE L 34,000.00 1 317.38 34,000.00 85.0
60 SBC582 800400509 ALLEN G VINCE 172,800.00 8 1,390.39 172,705.61 90.0
60 SBC582 800401515 OGREN STEVEN L 188,000.00 1 1,790.37 188,000.00 80.0
60 SBC582 800403370 DESHIELDS STEVEN A 197,550.00 1 1,825.55 197,550.00 90.0
60 SBC582 800406613 IFEANYI ISRAEL 249,900.00 1 1,965.96 249,756.23 79.3
60 SBC582 800407199 LEIGH DAWN ROBIN 23,375.00 1 224.82 23,366.89 83.4
60 SBC582 800408114 GUASTELLA SALVATORE 57,000.00 1 569.91 56,982.28 45.6
60 SBC582 800412272 WHITE KEITH M JR 295,500.00 1 2,786.24 295,500.00 72.9
60 SBC582 800412322 GIANNINI MICHAEL 51,000.00 1 442.86 51,000.00 85.0
60 SBC582 800413015 HURD CHARLES S 125,280.00 1 1,111.01 125,280.00 90.0
60 SBC582 800417669 BARFIELD-PAG JESSIE 140,400.00 1 1,232.11 140,400.00 90.0
60 SBC582 800417867 WILLIAMS THOMAS K JR 390,000.00 1 3,787.92 390,000.00 35.4
60 SBC582 800420200 CIGLER GARY 48,000.00 1 521.61 48,000.00 80.0
60 SBC582 800423964 CURRAN PATRICK C 223,200.00 1 1,755.91 223,200.00 90.0
60 SBC582 800426975 MOHAMED MAGDY 82,400.00 1 670.43 82,356.15 80.0
60 SBC582 800428096 SPILLER DAVID J 80,000.00 1 650.91 79,957.42 80.0
60 SBC582 800429383 LOGUE PATRICK J 360,000.00 1 3,530.76 360,000.00 80.0
60 SBC582 800429482 MALLOY JOHN D 129,000.00 7 1,276.02 129,000.00 84.8
60 SBC582 800430969 OPSAHL JAMES ALAN 300,000.00 8 2,549.97 300,000.00 72.2
60 SBC582 800431348 BUSKIRK RICHARD A 64,000.00 1 695.48 63,984.52 80.0
60 SBC582 800433237 CAREY PATRICIA L 208,000.00 8 1,654.95 207,883.38 80.0
60 SBC582 800433294 DUBOIS TIENA L 134,300.00 8 1,368.52 134,300.00 85.0
60 SBC582 800435505 THOMAS NANCY LORETTA 71,200.00 1 605.19 71,200.00 80.0
<CAPTION>
Next Current Property
Adjustment Mortgage Value at Owner
Pool ID Sale ID Account Date Rate Origination Occupied
- ----------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C>
60 SBC582 800283905 09/01/99 9.750 155,000.00 Y
60 SBC582 800298994 11/01/99 11.750 280,000.00 Y
60 SBC582 800314676 11/01/99 10.250 45,000.00 Y
60 SBC582 800316572 12/01/99 11.750 380,000.00 Y
60 SBC582 800323255 11/01/99 12.750 62,000.00 Y
60 SBC582 800323636 11/01/99 11.000 77,000.00 Y
60 SBC582 800330722 10/01/99 10.500 310,000.00 Y
60 SBC582 800330797 11/01/99 13.000 155,000.00 Y
60 SBC582 800331480 11/01/99 11.000 31,000.00 Y
60 SBC582 800334070 09/01/99 9.750 260,000.00 Y
60 SBC582 800338402 11/01/99 10.625 250,000.00 Y
60 SBC582 800340952 04/01/98 11.000 254,000.00 Y
60 SBC582 800342115 11/01/99 10.250 245,000.00 Y
60 SBC582 800349292 11/01/99 12.250 95,000.00 Y
60 SBC582 800349342 04/01/98 9.875 263,000.00 Y
60 SBC582 800352841 11/01/99 11.875 167,000.00 Y
60 SBC582 800354011 11/01/99 12.000 118,000.00 Y
60 SBC582 800354060 11/01/99 10.000 228,000.00 Y
60 SBC582 800357857 10/01/99 9.875 180,000.00 Y
60 SBC582 800365645 12/01/99 9.875 115,500.00 Y
60 SBC582 800367757 10/01/99 13.125 140,000.00 Y
60 SBC582 800370256 11/01/99 8.875 74,000.00 Y
60 SBC582 800370652 11/01/99 10.500 175,000.00 Y
60 SBC582 800370736 11/01/99 11.625 174,000.00 Y
60 SBC582 800371767 05/01/98 9.000 215,000.00 Y
60 SBC582 800374753 12/01/99 10.250 80,000.00 Y
60 SBC582 800376915 12/01/99 9.125 35,000.00 N
60 SBC582 800382871 12/01/99 9.875 109,000.00 Y
60 SBC582 800383226 10/01/99 12.250 108,000.00 Y
60 SBC582 800386211 10/01/99 13.750 45,000.00 Y
60 SBC582 800389090 11/01/99 9.625 108,440.00 Y
60 SBC582 800391534 10/01/99 11.875 305,000.00 Y
60 SBC582 800392037 04/01/98 9.250 258,000.00 Y
60 SBC582 800392656 12/01/99 10.625 65,000.00 Y
60 SBC582 800397176 11/01/99 10.750 40,000.00 Y
60 SBC582 800400509 04/01/98 9.000 192,000.00 Y
60 SBC582 800401515 05/01/98 11.000 235,000.00 Y
60 SBC582 800403370 11/01/99 10.625 219,500.00 Y
60 SBC582 800406613 11/01/99 8.750 315,000.00 Y
60 SBC582 800407199 11/01/99 11.125 28,000.00 Y
60 SBC582 800408114 05/01/98 11.625 125,000.00 Y
60 SBC582 800412272 11/01/99 10.875 405,000.00 Y
60 SBC582 800412322 11/01/99 9.875 60,000.00 Y
60 SBC582 800413015 11/01/99 10.125 139,200.00 Y
60 SBC582 800417669 11/01/99 10.000 156,000.00 Y
60 SBC582 800417867 05/01/98 11.250 1,100,000.00 Y
60 SBC582 800420200 11/01/99 12.750 60,000.00 Y
60 SBC582 800423964 05/01/98 8.750 248,000.00 Y
60 SBC582 800426975 05/01/98 9.125 103,000.00 Y
60 SBC582 800428096 11/01/99 9.125 100,000.00 Y
60 SBC582 800429383 05/01/98 11.375 450,000.00 Y
60 SBC582 800429482 11/01/99 11.125 152,000.00 Y
60 SBC582 800430969 11/01/99 9.625 415,000.00 Y
60 SBC582 800431348 11/01/99 12.750 80,000.00 Y
60 SBC582 800433237 05/01/98 8.875 260,000.00 Y
60 SBC582 800433294 11/01/99 11.875 158,000.00 Y
60 SBC582 800435505 11/01/99 9.625 89,000.00 Y
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
Alliance Funding Sale Schedule B - Group 2, Sub-Pool IV Page 7 12/18/97
A division of Superior Bank FSB 1997-4 Class 2 - Initial Pool of Adjustable Rate Mortgages - Settlement 12/22/97
Principal Type of Scheduled Cut-off Date Original
Balance at Mortgaged Payment Principal LTV
Pool ID Sale ID Account Name Origination Property Int & Prin Balance Ratio
- --------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C>
60 SBC582 800439309 CAMPBELL NIGEL 153,000.00 8 1,244.86 152,918.58 85.0
60 SBC582 800443426 FLEISHMAN MARC C 146,575.00 8 1,354.50 146,575.00 85.2
60 SBC582 800448623 FEDERICO HECTOR C 280,000.00 1 2,152.96 280,000.00 84.8
60 SBC584 800178485 ARTHUR FLOYD 573,750.00 1 4,768.79 571,269.27 85.0
60 SBC584 800319774 MCGLONE JOSEPH M 54,300.00 1 600.67 54,300.00 63.8
60 SBC584 800321879 KIRK COURTLANDT B 181,050.00 1 1,690.07 180,981.84 85.0
60 SBC584 800322711 LARWA FRANCIS P 143,225.00 1 1,432.02 143,135.51 85.0
60 SBC584 800328361 SINISCALCO ANTHONY V J 331,000.00 1 3,089.82 331,000.00 85.9
60 SBC584 800335119 RYAN JAN ELIZABETH 148,000.00 8 1,111.87 147,810.61 80.0
60 SBC584 800337230 DELMAZIO PHILLIP S 259,000.00 1 2,345.00 258,894.27 70.0
60 SBC584 800348419 LEMLER LAWRENCE 75,200.00 1 564.96 75,103.75 80.0
60 SBC584 800355752 TOMMASO FRANK 188,000.00 1 1,951.90 188,000.00 80.0
60 SBC584 800358640 HOEL JOHN 176,400.00 1 1,499.38 176,315.49 90.0
60 SBC584 800359457 SELTZER IRWIN 306,000.00 1 3,147.56 305,913.00 85.0
60 SBC584 800360745 MAXWELL ANDREW H 101,250.00 1 935.65 101,250.00 90.0
60 SBC584 800367153 BARTON JOHN E 96,000.00 1 807.22 96,000.00 80.0
60 SBC584 800371841 JEFFERS DOUGLASS A 158,000.00 8 1,200.91 157,901.80 71.8
60 SBC584 800373946 DELP DAVID 79,050.00 1 767.79 79,023.30 85.0
60 SBC584 800374969 HASSELBACH DOUGLAS L 111,900.00 5 1,044.57 111,900.00 89.9
60 SBC584 800383531 PALAZZETTI SERGIO 715,000.00 1 6,407.12 715,000.00 62.1
60 SBC584 800386336 LYTLE LESTER SCOTT 127,800.00 1 1,086.29 127,800.00 90.0
60 SBC584 800388399 MILLER ERIC T 481,500.00 1 3,787.96 481,222.98 90.0
60 SBC584 800393845 DELEO RICHARD JR 111,800.00 1 1,247.67 111,800.00 65.0
60 SBC584 800395154 CATELL MICHAEL A 87,125.00 1 887.80 87,125.00 85.0
60 SBC584 800398497 BECK ROBERT H 110,000.00 1 945.07 110,000.00 55.0
60 SBC584 800400053 NEELY GREGORY 399,000.00 1 4,452.76 399,000.00 80.9
60 SBC584 800401945 BARRIOS JOSEPH P 130,900.00 1 1,160.86 130,900.00 85.2
60 SBC584 800406498 SMITH WAYNE L 237,600.00 1 2,107.10 237,600.00 78.6
60 SBC584 800406522 WILLIAMS NICOLA C 156,000.00 1 1,441.60 155,939.65 65.0
60 SBC584 800407934 GUY LEZLEE ANN 123,920.00 8 1,030.70 123,920.00 80.0
60 SBC584 800408320 GETKIN JIMMY W 153,000.00 1 1,314.51 153,000.00 90.0
60 SBC584 800410029 SOTO EDILBERTO 24,650.00 8 216.32 24,650.00 85.0
60 SBC584 800410722 BERARDINO MICHAEL J 117,000.00 1 1,181.01 116,964.62 80.6
60 SBC584 800415432 TAYLOR DOUGLAS S 143,000.00 8 1,241.74 143,000.00 77.9
60 SBC584 800416869 ONEILL SEAN 172,000.00 4 1,430.61 172,000.00 84.7
60 SBC584 800419103 CHOLULA IGNACIO 136,000.00 5 1,193.50 136,000.00 85.0
60 SBC584 800419533 ROSSER EMMA JEAN 58,500.00 1 652.85 58,500.00 65.0
60 SBC584 800419798 CONNORS ROBERT R SR 150,000.00 1 1,456.89 149,949.36 88.0
60 SBC584 800419913 KREMPASKY JOSEPH S 102,400.00 1 870.39 102,400.00 80.0
60 SBC584 800420168 GREEN JERRY K 52,500.00 7 648.09 52,458.94 75.0
60 SBC584 800422917 VERONIKIS PENELOPE 102,000.00 1 971.37 102,000.00 80.0
60 SBC584 800426744 ANTHONY PETER B 105,166.00 1 952.18 105,166.00 84.5
60 SBC584 800433559 RICCI BRANDON J 233,750.00 1 2,204.01 233,750.00 85.0
60 SBC584 800435208 WALKENHAUER BRENT D 67,500.00 7 700.81 67,500.00 75.0
60 SBC584 800435216 STYLES ANN 101,600.00 1 1,104.08 101,600.00 80.0
60 SBC584 800438046 ROMANO ANDREW A 110,400.00 8 938.39 110,400.00 80.0
60 SBC584 800441834 CAIRNS JOHN O 28,000.00 1 253.51 28,000.00 89.7
60 SBC584 800441958 NORMAN ROBERT L 37,500.00 3 325.63 37,500.00 75.0
60 SBC584 800446825 REZEK MARKETA CH 35,000.00 2 297.50 35,000.00 53.8
60 SBC584 800447682 AKBARZADEH MAHMOUD MEHDRA 106,250.00 8 912.85 106,250.00 85.0
60 SBC584 800449209 QUADE CRISTY 50,150.00 1 482.33 50,150.00 85.0
60 SBC584 800452427 LOPRESTI ALISHA 91,200.00 1 733.82 91,200.00 80.0
60 SBC585 800207284 BEHMER TIMOTHY L 99,600.00 1 1,062.99 99,522.73 80.0
60 SBC585 800258204 BAE PAN CHUL 259,250.00 1 2,666.68 259,025.23 85.0
60 SBC585 800276511 ALEKNA ROBERT M 157,500.00 1 1,559.71 157,338.96 75.0
60 SBC585 800283640 POWELL ROY R JR 142,000.00 1 1,392.69 142,000.00 53.5
60 SBC585 800333312 AGUIRRE JOHNNY H 111,350.00 8 936.29 111,295.23 85.0
<CAPTION>
Next Current Property
Adjustment Mortgage Value at Owner
Pool ID Sale ID Account Date Rate Origination Occupied
- ----------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C>
60 SBC582 800439309 11/01/99 9.125 180,000.00 Y
60 SBC582 800443426 11/01/99 10.625 172,000.00 Y
60 SBC582 800448623 05/01/98 8.500 330,000.00 Y
60 SBC584 800178485 05/01/98 9.375 675,000.00 Y
60 SBC584 800319774 11/01/99 13.000 85,000.00 Y
60 SBC584 800321879 10/01/99 10.750 213,000.00 Y
60 SBC584 800322711 09/01/99 11.625 168,500.00 Y
60 SBC584 800328361 05/01/98 10.750 385,000.00 Y
60 SBC584 800335119 09/01/99 8.250 185,000.00 Y
60 SBC584 800337230 10/01/99 10.375 370,000.00 N
60 SBC584 800348419 03/01/98 8.250 94,000.00 Y
60 SBC584 800355752 05/01/98 12.125 235,000.00 Y
60 SBC584 800358640 10/01/99 9.625 196,000.00 Y
60 SBC584 800359457 10/01/99 12.000 360,000.00 Y
60 SBC584 800360745 11/01/99 10.625 112,500.00 Y
60 SBC584 800367153 11/01/99 9.500 120,000.00 Y
60 SBC584 800371841 10/01/99 8.375 220,000.00 Y
60 SBC584 800373946 04/01/98 11.250 93,000.00 Y
60 SBC584 800374969 12/01/99 10.750 124,400.00 Y
60 SBC584 800383531 11/01/99 10.250 1,150,000.00 Y
60 SBC584 800386336 11/01/99 9.625 142,000.00 Y
60 SBC584 800388399 05/01/98 8.750 535,000.00 Y
60 SBC584 800393845 11/01/99 13.125 172,000.00 Y
60 SBC584 800395154 11/01/99 11.875 102,500.00 Y
60 SBC584 800398497 11/01/99 9.750 200,000.00 N
60 SBC584 800400053 11/01/99 13.125 493,000.00 Y
60 SBC584 800401945 11/01/99 10.125 153,500.00 Y
60 SBC584 800406498 11/01/99 10.125 302,000.00 Y
60 SBC584 800406522 11/01/99 10.625 240,000.00 Y
60 SBC584 800407934 11/01/99 9.375 154,900.00 Y
60 SBC584 800408320 11/01/99 9.750 170,000.00 Y
60 SBC584 800410029 06/01/98 10.000 29,000.00 Y
60 SBC584 800410722 11/01/99 11.750 145,000.00 Y
60 SBC584 800415432 12/01/99 9.875 183,500.00 Y
60 SBC584 800416869 12/01/99 9.375 203,000.00 Y
60 SBC584 800419103 06/01/98 10.000 160,000.00 Y
60 SBC584 800419533 12/01/99 13.125 90,000.00 Y
60 SBC584 800419798 10/01/99 11.250 170,300.00 Y
60 SBC584 800419913 11/01/99 9.625 128,000.00 Y
60 SBC584 800420168 11/01/99 13.875 70,000.00 Y
60 SBC584 800422917 06/01/98 11.000 127,500.00 Y
60 SBC584 800426744 12/01/99 10.375 124,425.00 Y
60 SBC584 800433559 12/01/99 10.875 275,000.00 Y
60 SBC584 800435208 12/01/99 12.125 90,000.00 Y
60 SBC584 800435216 12/01/99 12.750 127,000.00 Y
60 SBC584 800438046 11/01/99 9.625 137,995.00 Y
60 SBC584 800441834 11/07/99 10.375 31,202.00 Y
60 SBC584 800441958 12/01/99 9.875 50,000.00 N
60 SBC584 800446825 12/01/99 9.625 65,000.00 N
60 SBC584 800447682 06/01/98 9.750 125,000.00 Y
60 SBC584 800449209 12/01/99 11.125 59,000.00 Y
60 SBC584 800452427 12/01/99 9.000 114,000.00 Y
60 SBC585 800207284 08/01/99 12.500 124,500.00 Y
60 SBC585 800258204 08/01/99 12.000 305,000.00 Y
60 SBC585 800276511 02/01/98 11.500 210,000.00 Y
60 SBC585 800283640 11/01/99 11.375 265,000.00 Y
60 SBC585 800333312 04/01/98 9.500 131,000.00 Y
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
Alliance Funding Sale Schedule B - Group 2, Sub-Pool IV Page 8 12/18/97
A division of Superior Bank FSB 1997-4 Class 2 - Initial Pool of Adjustable Rate Mortgages - Settlement 12/22/97
Principal Type of Scheduled Cut-off Date Original
Balance at Mortgaged Payment Principal LTV
Pool ID Sale ID Account Name Origination Property Int & Prin Balance Ratio
- -------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C>
60 SBC585 800345910 LIPPERT DONALD F 66,725.00 7 740.53 66,658.67 85.0
60 SBC585 800347437 MAGDITS JOHN A 93,600.00 1 971.80 93,600.00 80.0
60 SBC585 800350340 VO MY NGA THI 199,750.00 8 1,864.63 199,674.80 85.0
60 SBC585 800351728 GODO JULIAN 144,540.00 3 1,431.37 144,237.50 90.0
60 SBC585 800364259 BERTRAM JAMES A 40,495.00 1 428.26 40,495.00 80.9
60 SBC585 800366205 ANDERSEN JEFFREY 118,400.00 7 1,286.64 118,371.36 80.0
60 SBC585 800380610 BAILEY LENA 156,000.00 3 1,664.92 155,960.08 80.0
60 SBC585 800381378 BEEDLE JACK H 166,600.00 1 1,462.03 166,600.00 85.0
60 SBC585 800386369 ANDERSON BILLIE DEE 148,500.00 8 1,262.23 148,500.00 90.0
60 SBC585 800391823 SANCHEZ REGINA L 59,900.00 2 465.90 59,829.01 74.9
60 SBC585 800396707 ROGERS KENNETH V 98,100.00 1 943.51 98,065.96 90.0
60 SBC585 800411597 SANTUCCI MARK 168,000.00 1 1,825.64 168,000.00 80.0
60 SBC585 800416695 REID SIDNEY 246,600.00 3 2,371.75 246,514.44 90.0
60 SBC585 800419517 MAJOR CLYDE D 74,400.00 1 808.50 74,400.00 80.0
60 SBC585 800420895 COSTELLO MARY LOUISE 281,250.00 4 2,494.19 281,250.00 90.0
60 SBC585 800425548 RAIBURG YAKOV 198,000.00 1 1,701.13 197,810.62 84.9
60 SBC585 800430936 KOTKO ALEXANDER 60,000.00 8 461.35 60,000.00 54.5
60 SBC585 800443293 MELCHER WILLIAM J 136,800.00 1 1,125.42 136,800.00 90.0
60 SBC585 800448052 GHAFFARI SHAMCI 97,500.00 2 864.65 97,458.01 75.0
60 SBC585 800457483 SUHS DEBRA 78,500.00 1 769.90 78,500.00 79.2
60 SBC585 800462517 RAIRDEN ANN MARIE 24,000.00 2 201.80 24,000.00 80.0
60 SBC591 800221780 GINSBERG BARRETT A 272,000.00 1 2,719.56 271,656.81 80.0
60 SBC591 800307589 MOHMOUD TERESITA L 216,000.00 1 2,057.02 215,874.40 90.0
60 SBC591 800326142 POTTS JOANNE S 84,000.00 1 784.12 83,967.50 89.8
60 SBC591 800327983 ZELTNER KENT L 476,000.00 1 4,221.28 476,000.00 85.0
60 SBC591 800333619 SACCA JOSEPH J 87,600.00 1 951.94 87,600.00 80.0
60 SBC591 800334880 GIBSON JOHANNA 135,000.00 3 1,546.31 135,000.00 74.5
60 SBC591 800355208 PEREZ BERNARDINO 136,700.00 3 1,224.97 136,700.00 84.9
60 SBC591 800363913 COLEMAN JAMES P 77,850.00 1 668.85 77,850.00 90.0
60 SBC591 800366478 KOLLER JAMES 49,500.00 1 438.98 49,500.00 90.0
60 SBC591 800379679 DEFOSSE THOMAS L III 96,000.00 1 815.99 96,000.00 80.0
60 SBC591 800382111 SILVA WILSON A 148,500.00 4 1,386.22 148,500.00 90.0
60 SBC591 800397739 BERNADINE PATRICK 196,200.00 3 1,649.75 196,200.00 90.0
60 SBC591 800408221 MAGEE TIMOTHY J 38,200.00 1 445.07 38,200.00 77.9
60 SBC591 800409872 SERRA DEMETRIO R 103,500.00 3 937.10 103,500.00 90.0
60 SBC591 800410078 CALHOUN ARTHUR W 191,250.00 1 1,660.72 191,250.00 85.0
60 SBC591 800410110 BRYSON JOSEPH J 49,500.00 1 443.57 49,500.00 90.0
60 SBC591 800415663 KING ALAN B 149,400.00 1 1,479.49 149,400.00 90.0
60 SBC591 800419780 GREENBERG S MITCHELL 333,000.00 1 3,202.73 333,000.00 90.0
60 SBC591 800422792 SENATORE LAWRENCE 51,850.00 1 528.35 51,850.00 85.0
60 SBC591 800434847 SCARANTINO DEBORAH 40,000.00 4 407.60 40,000.00 59.7
60 SBC591 800436677 MURDOCK RANDALL K 133,500.00 4 1,221.18 133,500.00 75.0
60 SBC591 800443335 PHILLIPS CLARICE 234,000.00 3 2,250.57 234,000.00 90.0
60 SBC591 800445520 SZUMINSKY HOWARD J JR 21,675.00 3 208.47 21,675.00 85.0
60 SBC591 800453573 SAINI MOHAN 72,800.00 4 546.92 72,800.00 80.0
60 SBC591 800469397 SETTLES BILLY GENE 88,000.00 1 930.66 88,000.00 80.0
60 SBC591 800483414 JEFFERS JOSEPH MIKE 93,500.00 8 864.03 93,500.00 85.0
60 SBC591 800485922 BARKER JACK E 174,250.00 1 1,529.17 174,250.00 79.2
60 SBC591 800486334 HILL TREVOR D 87,700.00 7 785.88 87,700.00 88.5
60 SUPER ARM 800237919 LORENC KAREN A 64,000.00 1 597.43 63,975.90 54.2
60 SUPER ARM 800252884 INDIVIGLIO PATRICIA A 229,500.00 1 2,338.61 229,432.48 85.0
60 SUPER ARM 800317505 CAMPBELL HYACINTH 238,000.00 3 2,154.87 238,000.00 85.0
60 SUPER ARM 800320673 REJMANIAK ROBERT H 151,300.00 1 1,600.10 151,260.19 85.0
60 SUPER ARM 800347536 VANDUNK RICHARD B 25,000.00 1 249.96 25,000.00 26.8
60 SUPER ARM 800353823 MCLAURIN JOSEPH 81,000.00 1 681.09 81,000.00 90.0
60 SUPER ARM 800360976 DOLAN MATTHEW J 110,500.00 1 1,021.13 110,500.00 85.0
60 SUPER ARM 800381501 BEATON CECIL 152,000.00 3 1,563.49 152,000.00 80.0
<CAPTION>
Next Current Property
Adjustment Mortgage Value at Owner
Pool ID Sale ID Account Date Rate Origination Occupied
- -----------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C>
60 SBC585 800345910 10/01/99 12.125 78,500.00 Y
60 SBC585 800347437 05/01/98 12.125 117,000.00 Y
60 SBC585 800350340 10/01/99 10.750 235,000.00 Y
60 SBC585 800351728 05/01/99 11.500 160,600.00 Y
60 SBC585 800364259 11/01/99 12.375 50,000.00 Y
60 SBC585 800366205 10/01/99 12.750 148,000.00 Y
60 SBC585 800380610 10/01/99 12.500 195,000.00 Y
60 SBC585 800381378 05/01/98 10.000 196,000.00 Y
60 SBC585 800386369 11/01/99 9.625 165,000.00 Y
60 SBC585 800391823 10/01/99 8.625 79,900.00 Y
60 SBC585 800396707 10/01/99 11.125 109,000.00 Y
60 SBC585 800411597 11/01/99 12.750 210,000.00 Y
60 SBC585 800416695 11/01/99 11.125 274,000.00 Y
60 SBC585 800419517 12/01/99 12.750 93,000.00 Y
60 SBC585 800420895 11/01/99 10.125 312,500.00 Y
60 SBC585 800425548 09/01/99 9.750 233,000.00 Y
60 SBC585 800430936 11/01/99 8.500 110,000.00 Y
60 SBC585 800443293 12/01/99 9.250 152,000.00 Y
60 SBC585 800448052 11/01/99 10.125 130,000.00 Y
60 SBC585 800457483 12/01/99 11.375 99,000.00 Y
60 SBC585 800462517 06/01/98 9.500 30,000.00 Y
60 SBC591 800221780 07/01/99 11.625 340,000.00 Y
60 SBC591 800307589 09/01/99 11.000 240,000.00 Y
60 SBC591 800326142 09/01/99 10.750 93,500.00 Y
60 SBC591 800327983 12/01/99 10.125 560,000.00 Y
60 SBC591 800333619 12/01/99 12.750 109,500.00 Y
60 SBC591 800334880 12/01/99 13.500 181,000.00 Y
60 SBC591 800355208 06/01/98 10.250 160,900.00 Y
60 SBC591 800363913 12/01/99 9.750 86,500.00 Y
60 SBC591 800366478 11/01/99 10.125 55,000.00 Y
60 SBC591 800379679 11/01/99 9.625 120,000.00 Y
60 SBC591 800382111 11/01/99 10.750 165,000.00 Y
60 SBC591 800397739 06/01/98 9.500 218,000.00 Y
60 SBC591 800408221 11/01/99 13.750 49,000.00 Y
60 SBC591 800409872 12/01/99 10.375 115,000.00 Y
60 SBC591 800410078 11/01/99 9.875 225,000.00 Y
60 SBC591 800410110 05/01/98 10.250 55,000.00 Y
60 SBC591 800415663 12/01/99 11.500 166,000.00 Y
60 SBC591 800419780 12/01/99 11.125 370,000.00 Y
60 SBC591 800422792 11/01/99 11.875 61,000.00 Y
60 SBC591 800434847 12/01/99 11.875 67,000.00 N
60 SBC591 800436677 06/01/98 10.500 178,000.00 Y
60 SBC591 800443335 11/01/99 11.125 260,000.00 Y
60 SBC591 800445520 12/01/99 11.125 25,500.00 Y
60 SBC591 800453573 06/01/98 8.250 91,000.00 N
60 SBC591 800469397 12/01/99 12.375 110,000.00 Y
60 SBC591 800483414 12/01/99 10.625 110,000.00 Y
60 SBC591 800485922 06/01/98 10.000 220,000.00 Y
60 SBC591 800486334 12/01/99 10.250 99,000.00 Y
60 SUPER ARM 800237919 10/01/99 10.750 118,000.00 Y
60 SUPER ARM 800252884 10/01/99 11.875 270,000.00 Y
60 SUPER ARM 800317505 05/01/98 10.375 280,000.00 Y
60 SUPER ARM 800320673 10/01/99 12.375 178,000.00 Y
60 SUPER ARM 800347536 05/01/98 11.625 93,000.00 Y
60 SUPER ARM 800353823 05/01/98 9.500 90,000.00 Y
60 SUPER ARM 800360976 12/01/99 10.625 130,000.00 Y
60 SUPER ARM 800381501 05/01/98 12.000 190,000.00 Y
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
Alliance Funding Sale Schedule B - Group 2, Sub-Pool IV Page 9 12/18/97
A division of Superior Bank FSB 1997-4 Class 2 - Initial Pool of Adjustable Rate Mortgages - Settlement 12/22/97
Principal Type of Scheduled Cut-off Date Original
Balance at Mortgaged Payment Principal LTV
Pool ID Sale ID Account Name Origination Property Int & Prin Balance Ratio
- --------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C>
60 SUPER ARM 800390825 POWER THOMAS R 412,000.00 1 3,653.71 412,000.00 56.9
60 SUPER ARM 800396830 DAVIES KIMON RONALD 76,000.00 1 659.94 75,965.48 80.0
60 SUPER ARM 800416232 DESIR JOHNATHAN 141,750.00 1 1,243.96 141,750.00 75.0
60 SUPER ARM 800422149 FAUX ROBERT RAYMOND 68,600.00 1 539.68 68,600.00 70.0
60 SUPER ARM 800431181 HOOVLER MARK A 242,250.00 1 1,862.69 242,250.00 85.0
60 SUPER ARM 800433013 DAVID BERNARD 123,000.00 4 1,102.20 123,000.00 82.0
60 SUPER ARM 800443236 WILSON BRADLEY P 349,900.00 1 3,332.18 349,900.00 73.5
60 SUPER ARM 800450611 PFENDLER HARRY A JR 214,600.00 1 1,593.40 214,600.00 80.9
60 SUPER ARM 800465858 BRUNGER SHERRI LYNN 88,000.00 3 829.74 88,000.00 80.0
60 SUPER ARM 800466021 CUOMO LOUIS 153,000.00 1 1,342.68 153,000.00 90.0
60 SUPER ARM 800468209 NEILSON JANA E 58,650.00 1 531.02 58,650.00 85.0
60 SUPER ARM 800468589 WIMPEY LINDA A 43,937.00 2 373.46 43,915.95 80.0
60 SUPER ARM 800476871 WILLIAMS ED 90,000.00 1 668.25 90,000.00 80.3
---------------------------------------------------- ---------------------------------------
319 Sale Total 45,425,842.00 399,354.98 44,890,923.31 79.8
467 Grand Total Sub-Pool IV 62,633,676.00 558,024.57 62,092,793.42 115.3
<CAPTION>
Next Current Property
Adjustment Mortgage Value at Owner
Pool ID Sale ID Account Date Rate Origination Occupied
- -----------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C>
60 SUPER ARM 800390825 06/01/98 10.125 723,000.00 Y
60 SUPER ARM 800396830 11/01/99 9.875 95,000.00 Y
60 SUPER ARM 800416232 11/01/99 10.000 189,000.00 Y
60 SUPER ARM 800422149 11/01/99 8.750 98,000.00 N
60 SUPER ARM 800431181 11/01/99 8.500 285,000.00 Y
60 SUPER ARM 800433013 11/01/99 10.250 150,000.00 Y
60 SUPER ARM 800443236 12/01/99 11.000 475,500.00 Y
60 SUPER ARM 800450611 12/01/99 8.125 265,000.00 Y
60 SUPER ARM 800465858 12/01/99 10.875 110,000.00 Y
60 SUPER ARM 800466021 12/01/99 10.000 170,000.00 Y
60 SUPER ARM 800468209 12/01/99 10.375 69,000.00 Y
60 SUPER ARM 800468589 12/01/99 9.625 54,921.00 Y
60 SUPER ARM 800476871 12/01/99 8.125 112,000.00 Y
---------- -------------------------
319 9.999 58,139,783.00
467 14.444 79,709,698.00
</TABLE>
<PAGE>
EXHIBIT I
REQUEST FOR RELEASE OF DOCUMENTS
_____________, 19__
To: [Trustee]
[Custodian]
Re: Pooling and Servicing Agreement, dated as of December 1,
1997 (the "Pooling and Servicing Agreement"), among Superior
Bank FSB, as Depositor, Superior Bank FSB, as Servicer, and
LaSalle National Bank, as Trustee relating to AFC Mortgage
Loan Asset Backed Certificates, Series 1997-4
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 Group and remitted to the
Trustee for deposit into the related Certificate Account pursuant
to the Pooling and Servicing Agreement.)
____ 2. Mortgage Loan Liquidated
(Servicer hereby certifies that all proceeds of foreclosure,
insurance or other liquidation have been finally received and
credited to the Principal and Interest Account and remitted to
the Trustee for deposit into the related Certificate Account
pursuant to the Pooling and Servicing Agreement.)
____ 3. Mortgage Loan in Foreclosure
<PAGE>
____ 4. Mortgage Loan repurchased pursuant to Section 11.01 of the Pooling and
Servicing Agreement.
_____5. Mortgage Loan repurchased or substituted pursuant to Article II or III
of the Pooling and Servicing Agreement (Servicer hereby certifies that
the repurchase price or Substitution Adjustment has been credited to
the related Principal and Interest Account and remitted to the Trustee
for deposit into the Certificate Account pursuant to the Pooling and
Servicing Agreement.)
____ 6. Other (explain) _________________________________
__________________________________________________________
If box l or 2 above is checked, and if all or part of the Trustee's
Mortgage File was previously released to us, please release to us our previous
receipt on file with you, as well as any additional documents in your possession
relating to the above specified Mortgage Loan.
If box 3, 4, 5 or 6 above is checked, upon our return of all of the above
documents to you as Trustee, please acknowledge your receipt by signing in the
space indicated below, and returning this form.
Capitalized words and phrases used herein shall have the respective
meanings assigned to them in the Pooling and Servicing Agreement.
___________________________
By:________________________
Name:______________________
Title:_____________________
Documents returned to Trustee or Custodian:
_______________________
[Trustee][Custodian]
By:________________
Date:______________
-2-
<PAGE>
EXHIBIT J
TRANSFER AFFIDAVIT
STATE OF )
) ss.:
COUNTY OF )
The undersigned, being first duly sworn, deposes and says as follows:
1. The undersigned is an officer of ________, the proposed transferee (the
"Transferee") of a Percentage Interest in a Class R Certificate (the
"Certificate") issued pursuant to the Pooling and Servicing Agreement, dated as
of December 1, 1997 (the "Agreement"), among Superior Bank FSB, as depositor
(the "Depositor"), 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 transferor, 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
<PAGE>
a Percentage Interest in the Certificate including, without limitation, the
restrictions on subsequent transfers and the provisions regarding voiding the
transfer and mandatory sales. The Transferee expressly agrees to be bound by and
to abide by the provisions of Section 4.02 of the Agreement and the restrictions
noted on the face of the Certificate. The Transferee understands and agrees that
any breach of any of the representations included herein shall render the
transfer to the Transferee contemplated hereby null and void.
6. The Transferee agrees to require a Transfer Affidavit from any Person to
whom the Transferee attempts to transfer its Percentage Interest in the
Certificate, and in connection with any transfer by a Person for whom the
Transferee is acting as nominee, trustee or agent, and the Transferee will not
transfer its Percentage Interest or cause any Percentage Interest to be
transferred to any Person that the Transferee knows is not a Permitted
Transferee or if any purpose of such proposed transfer is to impede the
assessment or collection of tax. In connection with any such transfer by the
Transferee, the Transferee agrees to deliver to the Trustee a certificate (a
"Transfer Certificate") to the effect that such Transferee has no actual
knowledge that the Person to which the transfer is to be made is not a Permitted
Transferee.
7. The Transferee's taxpayer identification number is ______________.
8. No purpose of the Transferee relating to its purchase of a Percentage
Interest in the Certificate by the Transferee is or will be to impede the
assessment or collection of any tax.
9. The Transferee has no present knowledge or expectation that it will be
unable to pay any United States taxes owed by it so long as the Certificate
remains outstanding.
10. The Transferee has no present knowledge or expectation that it will
become insolvent or subject to a bankruptcy proceeding for so long as any of the
Certificates remain outstanding. In this regard, the Transferee hereby
represents to and for the benefit of the person from whom it acquired the Class
R Certificates that the Transferee intends to pay taxes associated with holding
such Class R Certificates as they become due, fully understanding that it may
incur tax liabilities in excess of any cash flows generated by the Class R
Certificates.
11. No purpose of the Transferee relating to any sale of any Percentage
Interest in the Certificate by the Transferee will be to impede the assessment
or collection of tax.
12. The Transferee is not a Non-United States Person.
-2-
<PAGE>
IN WITNESS WHEREOF, the Transferee has caused this instrument to be
executed on its behalf, pursuant to authority of its Board of Directors, by its
duly authorized officer and its corporate seal to be hereunto affixed, duly
attested, this day ____of ____________, 19__.
[NAME OF TRANSFEREE]
By:____________________
Name:__________________
Title:_________________
[Corporate Seal]
ATTEST:
___________________________
[Officer of Transferee]
-3-
<PAGE>
STATE OF )
) ss.:
COUNTY OF )
Personally appeared before me the above-named _______________, known or
proved to me to be the same person who executed the foregoing instrument and to
be the __________ of the Transferee, and acknowledged that he executed the same
as his free act and deed and the free act and deed of the Transferee.
Subscribed and sworn before me this ____ day of _____________, 19__.
NOTARY PUBLIC
My Commission expires the______day of___________, 19__
<PAGE>
EXHIBIT J-1
FORM OF TRANSFER CERTIFICATE
__________, 19__
[Trustee]
Attention: Corporate Trust
Re: AFC Mortgage Loan Asset Backed Certificates, Series
1997-4
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
1997-4, Class R (the "Certificate"), pursuant to Section 4.02 of the Pooling and
Servicing Agreement (the "Pooling and Servicing Agreement"), dated as of
December 1, 1997, among Superior Bank FSB, as depositor, 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 December 1, 1997 by and
among the Depositor, the Trustee and 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 Superior Bank FSB (the "Servicer") are entering into a Pooling
and Servicing Agreement, dated as of December 1, 1997, relating to AFC Mortgage
Loan Asset Backed Certificates, Series 1997-4 (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 Group 1 and Group 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,
-2-
<PAGE>
however, that ___________________ shall not be liable for any portion of any
such amount resulting from the gross negligence or wilful misconduct of the
Trustee.
7. Advice of Counsel. __________________ and the Trustee further agree that
____________________ shall be entitled to rely and act upon the advice of
counsel with respect to its performance hereunder as Custodian and shall be
without liability for any action reasonably taken pursuant to such advice,
provided that such action is not in violation of applicable Federal or State
law. This paragraph shall not negate _______________ obligations under paragraph
6 above.
8. Effective Period, Termination and Amendment, and Interpretive and
Additional Provisions. This Agreement shall become effective as of the date
hereof and shall continue in full force and effect until terminated as
hereinafter provided, and may be amended at any time by mutual agreement of the
parties hereto. This Agreement may be terminated by either party in a writing
delivered or mailed, postage prepaid, to the other party, such termination to
take effect no sooner than sixty (60) days after the date of such delivery or
mailing. Concurrently with, or as soon as practicable after, the termination of
this Agreement, _________________ shall redeliver the Trustee's Mortgage Files
to the Trustee at such place as the Trustee may reasonably designate. In
connection with the administration of this Agreement, ________________ and the
Trustee may agree from time to time upon the interpretation of the provisions of
this Agreement as may in their opinion by consistent with the general tenor and
purposes of this Agreement, any such interpretation to be signed and annexed
hereto.
9. Governing Law. This Agreement shall be governed by, and construed in
accordance with, the laws of the State of New York.
10. Notices. Notices and other writings shall be delivered or mailed,
postage prepaid, to the Trustee at, or to
____________________________________________________ at,
____________________________________, Attention: ______________________; or to
such other address as the Trustee or ________________ may hereafter specify in
writing. Notices or other writings shall be effective only upon actual receipt
by the parties.
11. Binding Effect. This Agreement shall be binding upon and shall inure to
the benefit of the Trustee and ____________________ and their respective
successors and assigns. Concurrently with the appointment of a successor trustee
as provided in Section 12.08 of the Pooling Agreement, the Trustee and
___________________ shall amend this Agreement to make said successor trustee
the successor to the Trustee hereunder.
12. Counterparts. This Agreement may be executed in one or more
counterparts and by the different parties hereto on separate counterparts, each
of which, when 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>
<TABLE>
<CAPTION>
EXHIBIT N
FORM OF DELINQUENCY REPORT
DELINQUENCY AND FORECLOSURE INFORMATION
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>
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: 97010804
Trust 1997-4 Control Number: 0010001
Insured Obligations:
$308,000,000 in principal amount
of AFC Mortgage Loan Asset Backed
Certificates, Series 1997-4, 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.
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
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
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 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
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
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 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, Superior Bank
FSB, as Servicer, and LaSalle National Bank, as Trustee, dated as of December 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
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
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/ SPECIMEN /s/ SPECIMEN
- -------------------- --------------------------
President Authorized Representative
Effective Date: December 22, 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 1997-4,
AFC Mortgage Loan Asset Backed
Certificates, Series 1997-4
Policy No. 97010804
Determination Date: ___________________________
Remittance Date: ___________________________
We refer to that certain Pooling and Servicing Agreement dated as of December 1,
1997, by and among Superior Bank FSB, as Depositor, 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 Group [1][2] due and owing is
$____________;
(ii) The Class A Principal Remittance Amount with respect to Group [1][2],
exclusive of the amount set forth in clause (c) (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 Group [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 Group [1][2] Certificate Account but may not be withdrawn
therefrom pursuant to an
<PAGE>
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 Group [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 Group 1 and Section
6.06(c)(B)(Y)(i) with respect to Group 2 is $_______________.
(vii) The aggregate amount to be withdrawn from the Group [1][2] Reserve
Account and deposited into the Group [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) ,] and (vii) above by $_______________.
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].
The amount requested in this Notice should be paid to: [Payment
Instructions]
<PAGE>
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.
IN WITNESS WHEREOF, the Trustee has executed and delivered this Notice this
_____ day of ______________________.
-------------------------------------------,
as Trustee
By: ___________________________________
Title: ___________________________________
AFC 97-4 POLICY
#64427v2
<PAGE>
EXHIBIT 0
CERTIFICATE INSURANCE POLICY
<PAGE>
EXHIBIT P
PRINCIPAL PAYMENT TABLES
<PAGE>
Alliance 1997-4 17-Dec-97
10:52:16 AM
Principal Prepayment Table
Class 1A Class 2A
Principal Principal
Balance Balance
--------- ---------
94,729,249.31 119,164,842.18
1 Dec-97 94,729,249.31 Dec-97 119,164,842.18
2 Jan-98 94,729,249.31 Jan-98 119,164,842.18
3 Feb-98 94,729,249.31 Feb-98 119,164,842.18
4 Mar-98 94,729,249.31 Mar-98 119,164,842.18
5 Apr-98 94,729,249.31 Apr-98 119,164,842.18
6 May-98 94,729,249.31 May-98 119,164,842.18
7 Jun-98 94,729,249.31 Jun-98 119,164,842.18
8 Jul-98 94,729,249.31 Jul-98 119,164,842.18
9 Aug-98 94,729,249.31 Aug-98 119,164,842.18
10 Sep-98 94,729,249.31 Sep-98 119,164,842.18
11 Oct-98 94,729,249.31 Oct-98 119,164,842.18
12 Nov-98 94,729,249.31 Nov-98 119,164,842.18
13 Dec-98 94,729,249.31 Dec-98 119,164,842.18
14 Jan-99 94,729,249.31 Jan-99 119,164,842.18
15 Feb-99 94,729,249.31 Feb-99 119,164,842.18
16 Mar-99 94,729,249.31 Mar-99 119,164,842.18
17 Apr-99 94,729,249.31 Apr-99 119,164,842.18
18 May-99 94,729,249.31 May-99 119,164,842.18
19 Jun-99 94,729,249.31 Jun-99 119,164,842.18
20 Jul-99 94,729,249.31 Jul-99 119,164,842.18
21 Aug-99 94,729,249.31 Aug-99 119,164,842.18
22 Sep-99 94,729,249.31 Sep-99 119,164,842.18
23 Oct-99 94,729,249.31 Oct-99 119,164,842.18
24 Nov-99 94,729,249.31 Nov-99 119,164,842.18
25 Dec-99 94,729,249.31 Dec-99 119,164,842.18
26 Jan-00 94,729,249.31 Jan-00 119,164,842.18
27 Feb-00 94,729,249.31 Feb-00 119,164,842.18
28 Mar-00 94,729,249.31 Mar-00 119,164,842.18
29 Apr-00 94,729,249.31 Apr-00 119,164,842.18
30 May-00 94,729,249.31 May-00 119,164,842.18
31 Jun-00 94,729,249.31 Jun-00 119,164,842.18
32 Jul-00 94,729,249.31 Jul-00 119,164,842.18
33 Aug-00 94,729,249.31 Aug-00 119,164,842.18
34 Sep-00 94,729,249.31 Sep-00 119,164,842.18
Page 1
<PAGE>
Alliance 1997-4 17-Dec-97
10:52:16 AM
Principal Prepayment Table
Class 1A Class 2A
Principal Principal
Balance Balance
--------- ---------
35 Oct-00 94,729,249.31 Oct-00 119,164,842.18
36 Nov-00 94,729,249.31 Nov-00 119,164,842.18
37 Dec-00 94,729,249.31 Dec-00 119,164,842.18
38 Jan-01 94,729,249.31 Jan-01 119,164,842.18
39 Feb-01 94,729,249.31 Feb-01 119,164,842.18
40 Mar-01 94,729,249.31 Mar-01 119,164,842.18
41 Apr-01 94,729,249.31 Apr-01 119,164,842.18
42 May-01 94,729,249.31 May-01 119,164,842.18
43 Jun-01 94,729,249.31 Jun-01 119,164,842.18
44 Jul-01 94,729,249.31 Jul-01 119,164,842.18
45 Aug-01 94,729,249.31 Aug-01 119,164,842.18
46 Sep-01 94,729,249.31 Sep-01 119,164,842.18
47 Oct-01 94,729,249.31 Oct-01 119,164,842.18
48 Nov-01 94,729,249.31 Nov-01 119,164,842.18
49 Dec-01 94,729,249.31 Dec-01 119,164,842.18
50 Jan-02 94,729,249.31 Jan-02 119,164,842.18
51 Feb-02 94,729,249.31 Feb-02 119,164,842.18
52 Mar-02 94,729,249.31 Mar-02 119,164,842.18
53 Apr-02 94,729,249.31 Apr-02 119,164,842.18
54 May-02 94,729,249.31 May-02 119,164,842.18
55 Jun-02 94,729,249.31 Jun-02 119,164,842.18
56 Jul-02 94,729,249.31 Jul-02 119,164,842.18
57 Aug-02 94,729,249.31 Aug-02 119,164,842.18
58 Sep-02 94,729,249.31 Sep-02 119,164,842.18
59 Oct-02 94,729,249.31 Oct-02 119,164,842.18
60 Nov-02 94,729,249.31 Nov-02 119,164,842.18
61 Dec-02 87,945,442.73 Dec-02 114,588,710.60
62 Jan-03 87,799,285.47 Jan-03 114,492,609.23
63 Feb-03 87,651,771.13 Feb-03 114,395,703.41
64 Mar-03 87,502,887.10 Mar-03 114,297,986.41
65 Apr-03 87,352,620.65 Apr-03 114,199,451.44
66 May-03 87,200,958.93 May-03 114,100,091.65
67 Jun-03 87,047,888.98 Jun-03 113,999,900.14
68 Jul-03 86,893,397.71 Jul-03 113,898,869.94
69 Aug-03 86,737,471.90 Aug-03 113,796,994.03
70 Sep-03 86,580,098.23 Sep-03 113,694,265.33
71 Oct-03 86,421,263.24 Oct-03 113,590,676.71
72 Nov-03 86,260,953.35 Nov-03 113,486,220.97
73 Dec-03 86,099,154.86 Dec-03 113,380,890.85
74 Jan-04 85,935,853.92 Jan-04 113,274,679.02
75 Feb-04 85,771,036.57 Feb-04 113,167,578.12
76 Mar-04 85,604,688.73 Mar-04 113,059,580.69
Page 2
<PAGE>
Alliance 1997-4 17-Dec-97
10:52:16 AM
Principal Prepayment Table
Class 1A Class 2A
Principal Principal
Balance Balance
--------- ---------
77 Apr-04 85,436,796.16 Apr-04 112,950,679.23
78 May-04 85,267,344.51 May-04 112,840,866.17
79 Jun-04 85,096,319.29 Jun-04 112,730,133.89
80 Jul-04 84,923,705.87 Jul-04 112,618,474.69
81 Aug-04 84,749,489.49 Aug-04 112,505,880.80
82 Sep-04 84,573,655.25 Sep-04 112,392,344.42
83 Oct-04 84,396,188.12 Oct-04 112,277,857.63
84 Nov-04 84,217,072.92 Nov-04 112,162,412.50
85 Dec-04 84,036,294.32 Dec-04 112,046,001.00
86 Jan-05 83,853,836.88 Jan-05 111,928,615.03
87 Feb-05 83,669,684.98 Feb-05 111,810,246.45
88 Mar-05 83,483,822.87 Mar-05 111,690,887.02
89 Apr-05 83,296,234.66 Apr-05 111,570,528.45
90 May-05 83,106,904.30 May-05 111,449,162.39
91 Jun-05 82,915,815.60 Jun-05 111,326,780.39
92 Jul-05 82,722,952.22 Jul-05 111,203,373.94
93 Aug-05 82,528,297.65 Aug-05 111,078,934.49
94 Sep-05 82,331,835.25 Sep-05 110,953,453.37
95 Oct-05 82,133,548.22 Oct-05 110,826,921.87
96 Nov-05 81,933,419.58 Nov-05 110,699,331.20
97 Dec-05 81,731,432.23 Dec-05 110,570,672.48
98 Jan-06 81,527,568.89 Jan-06 110,440,936.79
99 Feb-06 81,321,812.11 Feb-06 110,310,115.10
100 Mar-06 81,114,144.30 Mar-06 110,178,198.32
101 Apr-06 80,904,547.68 Apr-06 110,045,177.29
102 May-06 80,693,004.34 May-06 109,911,042.76
103 Jun-06 80,479,496.16 Jun-06 109,775,785.42
104 Jul-06 80,264,004.89 Jul-06 109,639,395.86
105 Aug-06 80,046,512.10 Aug-06 109,501,864.60
106 Sep-06 79,826,999.16 Sep-06 109,363,182.09
107 Oct-06 79,605,447.31 Oct-06 109,223,338.70
108 Nov-06 79,381,837.59 Nov-06 109,082,324.70
109 Dec-06 79,156,150.86 Dec-06 108,940,130.29
110 Jan-07 78,928,367.82 Jan-07 108,796,745.60
111 Feb-07 78,698,468.98 Feb-07 108,652,160.66
112 Mar-07 78,466,434.66 Mar-07 108,506,365.42
113 Apr-07 78,232,245.02 Apr-07 108,359,349.76
114 May-07 77,995,880.02 May-07 108,211,103.45
115 Jun-07 77,757,319.42 Jun-07 108,061,616.19
116 Jul-07 77,516,542.82 Jul-07 107,910,877.61
117 Aug-07 77,273,529.62 Aug-07 107,758,877.21
118 Sep-07 77,028,259.02 Sep-07 107,605,604.45
Page 3
<PAGE>
Alliance 1997-4 17-Dec-97
10:52:16 AM
Principal Prepayment Table
Class 1A Class 2A
Principal Principal
Balance Balance
--------- ---------
119 Oct-07 76,780,710.02 Oct-07 107,451,048.66
120 Nov-07 76,530,861.46 Nov-07 107,295,199.12
121 Dec-07 76,278,691.95 Dec-07 107,138,044.98
122 Jan-08 76,024,179.90 Jan-08 106,979,575.34
123 Feb-08 75,767,303.54 Feb-08 106,819,779.17
124 Mar-08 75,508,040.88 Mar-08 106,658,645.37
125 Apr-08 75,246,369.74 Apr-08 106,496,162.75
126 May-08 74,982,267.72 May-08 106,332,320.01
127 Jun-08 74,715,712.22 Jun-08 106,167,105.77
128 Jul-08 74,446,680.42 Jul-08 106,000,508.56
129 Aug-08 74,175,149.31 Aug-08 105,832,516.78
130 Sep-08 73,901,095.63 Sep-08 105,663,118.77
131 Oct-08 73,624,495.94 Oct-08 105,492,302.77
132 Nov-08 73,345,326.56 Nov-08 105,320,056.88
133 Dec-08 73,063,563.60 Dec-08 105,146,369.16
134 Jan-09 72,779,182.93 Jan-09 104,971,227.53
135 Feb-09 72,492,160.22 Feb-09 104,794,619.81
136 Mar-09 72,202,470.90 Mar-09 104,616,533.74
137 Apr-09 71,910,090.17 Apr-09 104,436,956.95
138 May-09 71,614,993.01 May-09 104,255,876.94
139 Jun-09 71,317,154.15 Jun-09 104,073,281.15
140 Jul-09 71,016,548.09 Jul-09 103,889,156.87
141 Aug-09 70,713,149.11 Aug-09 103,703,491.32
142 Sep-09 70,406,931.24 Sep-09 103,516,271.60
143 Oct-09 70,097,868.24 Oct-09 103,327,484.69
144 Nov-09 69,785,933.68 Nov-09 103,137,117.48
145 Dec-09 69,471,100.85 Dec-09 102,945,156.73
146 Jan-10 69,153,342.78 Jan-10 102,751,589.12
147 Feb-10 68,832,632.28 Feb-10 102,556,401.18
148 Mar-10 68,508,941.89 Mar-10 102,359,579.36
149 Apr-10 68,182,243.90 Apr-10 102,161,109.97
150 May-10 67,852,510.33 May-10 101,960,979.23
151 Jun-10 67,519,712.96 Jun-10 101,759,173.23
152 Jul-10 67,183,823.29 Jul-10 101,555,677.94
153 Aug-10 66,844,812.55 Aug-10 101,350,479.23
154 Sep-10 66,502,651.74 Sep-10 101,143,562.83
155 Oct-10 66,157,311.53 Oct-10 100,934,914.37
156 Nov-10 65,808,762.37 Nov-10 100,724,519.35
157 Dec-10 65,456,974.42 Dec-10 100,512,363.15
158 Jan-11 65,101,917.54 Jan-11 100,298,431.03
159 Feb-11 64,743,561.33 Feb-11 100,082,708.11
160 Mar-11 64,381,875.11 Mar-11 99,865,179.42
Page 4
<PAGE>
Alliance 1997-4 17-Dec-97
10:52:16 AM
Principal Prepayment Table
Class 1A Class 2A
Principal Principal
Balance Balance
--------- ---------
161 Apr-11 64,016,827.90 Apr-11 99,645,829.82
162 May-11 63,648,388.44 May-11 99,424,644.09
163 Jun-11 63,276,525.19 Jun-11 99,201,606.85
164 Jul-11 62,901,206.29 Jul-11 98,976,702.60
165 Aug-11 62,522,399.61 Aug-11 98,749,915.72
166 Sep-11 62,140,072.69 Sep-11 98,521,230.44
167 Oct-11 61,754,192.81 Oct-11 98,290,630.87
168 Nov-11 61,364,726.90 Nov-11 98,058,101.00
169 Dec-11 60,971,641.62 Dec-11 97,823,624.65
170 Jan-12 60,574,903.29 Jan-12 97,587,185.54
171 Feb-12 60,174,477.95 Feb-12 97,348,767.24
172 Mar-12 59,770,331.28 Mar-12 97,108,353.19
173 Apr-12 59,362,428.68 Apr-12 96,865,926.66
174 May-12 58,950,735.20 May-12 96,621,470.82
175 Jun-12 58,535,215.59 Jun-12 96,374,968.68
176 Jul-12 58,115,834.24 Jul-12 96,126,403.12
177 Aug-12 57,692,555.25 Aug-12 95,875,756.85
178 Sep-12 57,265,342.35 Sep-12 95,623,012.47
179 Oct-12 56,834,158.94 Oct-12 95,368,152.40
180 Nov-12 29,221,497.99 Nov-12 95,111,158.95
181 Dec-12 28,836,342.68 Dec-12 94,852,014.24
182 Jan-13 28,447,648.62 Jan-13 94,590,700.28
183 Feb-13 28,055,383.31 Feb-13 94,327,198.90
184 Mar-13 27,659,513.93 Mar-13 94,061,491.80
185 Apr-13 27,260,007.36 Apr-13 93,793,560.50
186 May-13 26,856,830.20 May-13 93,523,386.40
187 Jun-13 26,449,948.71 Jun-13 93,250,950.71
188 Jul-13 26,039,328.87 Jul-13 92,976,234.51
189 Aug-13 25,624,936.31 Aug-13 92,699,218.71
190 Sep-13 25,206,736.39 Sep-13 92,419,884.06
191 Oct-13 24,784,694.12 Oct-13 92,138,211.14
192 Nov-13 24,358,774.19 Nov-13 91,854,180.38
193 Dec-13 23,928,940.98 Dec-13 91,567,772.05
194 Jan-14 23,495,158.53 Jan-14 91,278,966.24
195 Feb-14 23,057,390.57 Feb-14 90,987,742.89
196 Mar-14 22,615,600.46 Mar-14 90,694,081.76
197 Apr-14 22,169,751.26 Apr-14 90,397,962.43
198 May-14 21,719,805.67 May-14 90,099,364.35
199 Jun-14 21,265,726.06 Jun-14 89,798,266.74
200 Jul-14 20,807,474.44 Jul-14 89,494,648.70
201 Aug-14 20,345,012.48 Aug-14 89,188,489.12
202 Sep-14 19,878,301.50 Sep-14 88,879,766.74
Page 5
<PAGE>
Alliance 1997-4 17-Dec-97
10:52:16 AM
Principal Prepayment Table
Class 1A Class 2A
Principal Principal
Balance Balance
--------- ---------
203 Oct-14 19,407,302.45 Oct-14 88,568,460.09
204 Nov-14 18,931,975.94 Nov-14 88,254,547.54
205 Dec-14 18,452,282.22 Dec-14 87,938,007.28
206 Jan-15 17,968,181.14 Jan-15 87,618,817.32
207 Feb-15 17,479,632.23 Feb-15 87,296,955.47
208 Mar-15 16,986,594.61 Mar-15 86,972,399.37
209 Apr-15 16,489,027.04 Apr-15 86,645,126.46
210 May-15 15,986,887.91 May-15 86,315,114.01
211 Jun-15 15,480,135.20 Jun-15 85,982,339.08
212 Jul-15 14,968,726.54 Jul-15 85,646,778.54
213 Aug-15 14,452,619.14 Aug-15 85,308,409.09
214 Sep-15 13,931,769.82 Sep-15 84,967,207.19
215 Oct-15 13,406,135.04 Oct-15 84,623,149.16
216 Nov-15 12,875,670.80 Nov-15 84,276,211.07
217 Dec-15 12,340,332.75 Dec-15 83,926,368.82
218 Jan-16 11,800,076.11 Jan-16 83,573,598.10
219 Feb-16 11,254,855.67 Feb-16 83,217,874.40
220 Mar-16 10,704,625.84 Mar-16 82,859,172.99
221 Apr-16 10,149,340.60 Apr-16 82,497,468.95
222 May-16 9,588,953.48 May-16 82,132,737.15
223 Jun-16 9,023,417.62 Jun-16 81,764,952.24
224 Jul-16 8,452,685.71 Jul-16 81,394,088.66
225 Aug-16 7,876,710.01 Aug-16 81,020,120.64
226 Sep-16 7,295,442.34 Sep-16 80,643,022.21
227 Oct-16 6,708,834.08 Oct-16 80,262,767.14
228 Nov-16 6,116,836.16 Nov-16 79,879,329.02
229 Dec-16 5,519,399.07 Dec-16 79,492,681.20
230 Jan-17 4,916,472.82 Jan-17 79,102,796.82
231 Feb-17 4,308,006.98 Feb-17 78,709,648.79
232 Mar-17 3,693,950.67 Mar-17 78,313,209.77
233 Apr-17 3,074,252.50 Apr-17 77,913,452.23
234 May-17 2,448,860.66 May-17 77,510,348.39
235 Jun-17 1,817,722.81 Jun-17 77,103,870.23
236 Jul-17 1,180,786.18 Jul-17 76,693,989.52
237 Aug-17 537,997.48 Aug-17 76,280,677.75
238 Sep-17 (110,697.06) Sep-17 75,863,906.23
239 Oct-17 Oct-17 75,443,645.98
240 Nov-17 Nov-17 75,019,867.80
241 Dec-17 Dec-17 74,592,542.24
242 Jan-18 Jan-18 74,161,639.62
243 Feb-18 Feb-18 73,727,129.98
244 Mar-18 Mar-18 73,288,983.13
Page 6
<PAGE>
Alliance 1997-4 17-Dec-97
10:52:16 AM
Principal Prepayment Table
Class 1A Class 2A
Principal Principal
Balance Balance
--------- ---------
245 Apr-18 Apr-18 72,847,168.63
246 May-18 May-18 72,401,655.77
247 Jun-18 Jun-18 71,952,413.60
248 Jul-18 Jul-18 71,499,410.89
249 Aug-18 Aug-18 71,042,616.18
250 Sep-18 Sep-18 70,581,997.71
251 Oct-18 Oct-18 70,117,523.49
252 Nov-18 Nov-18 69,649,161.22
253 Dec-18 Dec-18 69,176,878.38
254 Jan-19 Jan-19 68,700,642.13
255 Feb-19 Feb-19 68,220,419.39
256 Mar-19 Mar-19 67,736,176.79
257 Apr-19 Apr-19 67,247,880.67
258 May-19 May-19 66,755,497.10
259 Jun-19 Jun-19 66,258,991.88
260 Jul-19 Jul-19 65,758,330.49
261 Aug-19 Aug-19 65,253,478.15
262 Sep-19 Sep-19 64,744,399.78
263 Oct-19 Oct-19 64,231,059.99
264 Nov-19 Nov-19 63,713,423.12
265 Dec-19 Dec-19 63,191,453.20
266 Jan-20 Jan-20 62,665,113.96
267 Feb-20 Feb-20 62,134,368.82
268 Mar-20 Mar-20 61,599,180.90
269 Apr-20 Apr-20 61,059,513.01
270 May-20 May-20 60,515,327.65
271 Jun-20 Jun-20 59,966,587.01
272 Jul-20 Jul-20 59,413,252.95
273 Aug-20 Aug-20 58,855,287.02
274 Sep-20 Sep-20 58,292,650.45
275 Oct-20 Oct-20 57,725,304.15
276 Nov-20 Nov-20 57,153,208.69
277 Dec-20 Dec-20 56,576,324.30
278 Jan-21 Jan-21 55,994,610.92
279 Feb-21 Feb-21 55,408,028.11
280 Mar-21 Mar-21 54,816,535.11
281 Apr-21 Apr-21 54,220,090.83
282 May-21 May-21 53,618,653.81
283 Jun-21 Jun-21 53,012,182.25
284 Jul-21 Jul-21 52,400,634.03
285 Aug-21 Aug-21 51,783,966.64
286 Sep-21 Sep-21 51,162,137.23
Page 7
<PAGE>
Alliance 1997-4 17-Dec-97
10:52:16 AM
Principal Prepayment Table
Class 1A Class 2A
Principal Principal
Balance Balance
--------- ---------
287 Oct-21 Oct-21 50,535,102.59
288 Nov-21 Nov-21 49,902,819.14
289 Dec-21 Dec-21 49,265,242.96
290 Jan-22 Jan-22 48,622,329.73
291 Feb-22 Feb-22 47,974,034.78
292 Mar-22 Mar-22 47,320,313.07
293 Apr-22 Apr-22 46,661,119.16
294 May-22 May-22 45,996,407.24
295 Jun-22 Jun-22 45,326,131.14
296 Jul-22 Jul-22 44,650,244.26
297 Aug-22 Aug-22 43,968,699.65
298 Sep-22 Sep-22 43,281,449.94
299 Oct-22 Oct-22 42,588,447.38
300 Nov-22 Nov-22 41,889,643.81
301 Dec-22 Dec-22 41,184,990.67
302 Jan-23 Jan-23 40,474,439.00
303 Feb-23 Feb-23 39,757,939.41
304 Mar-23 Mar-23 39,035,442.13
305 Apr-23 Apr-23 38,306,896.95
306 May-23 May-23 37,572,253.23
307 Jun-23 Jun-23 36,831,459.94
308 Jul-23 Jul-23 36,084,465.58
309 Aug-23 Aug-23 35,331,218.26
310 Sep-23 Sep-23 34,571,665.64
311 Oct-23 Oct-23 33,805,754.92
312 Nov-23 Nov-23 33,033,432.90
313 Dec-23 Dec-23 32,254,645.89
314 Jan-24 Jan-24 31,469,339.79
315 Feb-24 Feb-24 30,677,460.03
316 Mar-24 Mar-24 29,878,951.57
317 Apr-24 Apr-24 29,073,758.92
318 May-24 May-24 28,261,826.15
319 Jun-24 Jun-24 27,443,096.82
320 Jul-24 Jul-24 26,617,514.04
321 Aug-24 Aug-24 25,785,020.45
322 Sep-24 Sep-24 24,945,558.20
323 Oct-24 Oct-24 24,099,068.94
324 Nov-24 Nov-24 23,245,493.86
325 Dec-24 Dec-24 22,384,773.65
326 Jan-25 Jan-25 21,516,848.50
327 Feb-25 Feb-25 20,641,658.08
328 Mar-25 Mar-25 19,759,141.60
Page 8
<PAGE>
Alliance 1997-4 17-Dec-97
10:52:16 AM
Principal Prepayment Table
Class 1A Class 2A
Principal Principal
Balance Balance
--------- ---------
329 Apr-25 Apr-25 18,869,237.71
330 May-25 May-25 17,971,884.59
331 Jun-25 Jun-25 17,067,019.88
332 Jul-25 Jul-25 16,154,580.69
333 Aug-25 Aug-25 15,234,503.63
334 Sep-25 Sep-25 14,306,724.75
335 Oct-25 Oct-25 13,371,179.60
336 Nov-25 Nov-25 12,427,803.15
337 Dec-25 Dec-25 11,476,529.85
338 Jan-26 Jan-26 10,517,293.60
339 Feb-26 Feb-26 9,550,027.75
340 Mar-26 Mar-26 8,574,665.08
341 Apr-26 Apr-26 7,591,137.80
342 May-26 May-26 6,599,377.59
343 Jun-26 Jun-26 5,599,315.51
344 Jul-26 Jul-26 4,590,882.08
345 Aug-26 Aug-26 3,574,007.23
346 Sep-26 Sep-26 2,548,620.28
347 Oct-26 Oct-26 1,514,649.99
348 Nov-26 Nov-26 472,024.51
349 Dec-26 Dec-26 (579,328.62)
Page 9
<PAGE>
EXHIBIT Q
FORM OF SERVICER'S MONTHLY REMITTANCE REPORT
TO TRUSTEE
<PAGE>
EXHIBIT R
PROPOSED SUBSEQUENT MORTGAGE LOAN SCHEDULE
<PAGE>
<TABLE>
Page 1 of 34
A L L I A N C E F U N D I N G
A division of Superior Bank FSB
Loans Funded and Available for Sale to 1997-4 as of 12/19/97
<CAPTION>
Orig Current Note
Account Name State Principal Rate Margin
- --------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C>
SUB-POOL I: FIXED RATE LOANS AVAILABLE FOR SALE
- ------------------------------------------------
106142347 WOODARD GERRY MI 41,965.88 13.600 0.000
106153851 SMITH PAULINE F WI 65,450.00 12.000 0.000
106154246 BANKS JESSE GENIE JR NY 59,200.00 9.320 0.000
106154412 BARUTH JAMES E MN 80,000.00 9.000 0.000
106154471 PETERSEN MICHAEL JAMES MN 98,400.00 9.595 0.000
106154491 SCHAEFER BRIAN K IN 83,800.00 11.750 0.000
106154555 WEGGE MARILYN WI 64,800.00 10.375 0.000
106154562 GROVES PAUL F JR KY 76,300.00 10.125 0.000
106154574 CHRISTIANSEN RANDALL G MN 79,000.00 10.375 0.000
106154827 CONKLIN GREG L IN 36,000.00 10.725 0.000
106155012 WIRTH TERRY ALLEN WI 47,600.00 10.525 0.000
106155034 SPAULDING SUE IN 91,400.00 12.375 0.000
106155155 ROBERTS DONNA J IN 43,518.35 12.000 0.000
106155211 DEXTER DONALD K WI 46,000.00 10.875 0.000
106155212 HOOD LOVIE ANN IN 60,000.00 10.625 0.000
106155284 SACKMANN ALAN J WI 116,500.00 9.320 0.000
106155290 STAMPER MARGARET J KY 29,700.00 11.875 0.000
106155305 GLAPA PATRICIA A WI 44,000.00 9.320 0.000
106155368 DARNELL JULIA A IN 50,600.00 11.625 0.000
106155459 GREEN VALERIE J IN 58,400.00 9.195 0.000
106155480 ROSS NADINE J OH 62,000.00 12.000 0.000
106155491 GORDON SALLY M IN 43,147.48 10.500 0.000
106155623 ENGLE WILLIAM C KY 119,200.00 9.320 0.000
106155625 MCGOWAN MARY IL 27,000.00 10.875 0.000
106155755 THOMPSON VANNESSA M IN 90,000.00 9.195 0.000
106155768 CONANT-WINTE JEAN FRANCES WI 79,600.00 9.320 0.000
106155814 NASH TRACI L IN 44,700.00 9.320 0.000
106156018 SUMMERS LYLE B OH 83,500.00 10.375 0.000
106156033 EISENSCHENK DANIEL G MN 74,811.45 9.195 0.000
106156039 WENNING SHIRLEY J IN 46,200.00 10.125 0.000
106156111 BUCHANAN GENE NY 27,800.00 9.320 0.000
106156131 YOUNG WILLIAM IL 55,827.54 11.750 0.000
106156213 CHAPMAN JACKSON L IN 95,200.00 9.445 0.000
106156382 BOEDE MICHAEL J WI 54,200.00 10.537 0.000
106156433 DEROLF BRENDA IN 54,358.88 10.375 0.000
106156707 HAYNES ROGER K IN 65,200.00 9.800 0.000
106156729 DERTILIS NANCY MARIE NY 74,000.00 11.375 0.000
106156852 AHLERT KENNETH E WI 64,800.00 10.875 0.000
106156903 CRANDALL SUSAN S NY 38,341.28 13.490 0.000
106156936 HUGHES ROGER D IN 100,000.00 9.445 0.000
106157048 COY JEFFREY ALLEN IN 15,000.00 10.500 0.000
106157085 RICHARDS SUSAN ANN MN 79,700.00 9.320 0.000
106157170 ROWLEY DAVID R IN 113,414.27 9.695 0.000
106157229 KREBS PATRICIA L KY 51,100.00 11.150 0.000
106157345 MALECKY ANNA M MN 40,133.88 10.875 0.000
106157493 JOHNSON WILLIAM MI 159,543.67 10.750 0.000
106157640 ODONNELL RITA Y WI 66,217.56 9.070 0.000
106157655 WHEELER THOMAS J IN 46,299.26 10.890 0.000
106157842 SIGH JIMMIE L IN 30,228.11 10.250 0.000
106157954 BORKOWSKI GARY R WI 78,800.00 9.570 0.000
106158030 MARTINO ANDREW NY 51,800.00 9.875 0.000
106158031 KELSALL STANLEY S. JR NJ 137,900.00 8.820 0.000
106158076 SAMANO ALBERT JR TX 100,000.00 11.000 0.000
106158130 BREWER VERA MI 140,000.00 9.800 0.000
106158308 WEISANSAL SHERI A NY 70,100.00 10.625 0.000
106158489 CARDENAS HECTOR IL 79,000.00 11.650 0.000
106158512 MURDOCK SEAN MI 14,294.49 13.150 0.000
</TABLE>
<PAGE>
<TABLE>
Page 2 of 34
A L L I A N C E F U N D I N G
A division of Superior Bank FSB
Loans Funded and Available for Sale to 1997-4 as of 12/19/97
<CAPTION>
Orig Current Note
Account Name State Principal Rate Margin
- --------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C>
106158552 PARKS BONNIE IN 45,200.00 10.150 0.000
106158569 PITTMAN DARRELL W IN 63,000.00 10.800 0.000
106158607 BUZZO MIKE IL 135,000.00 10.900 0.000
106158634 TURNER JORDAN W III IN 54,000.00 11.300 0.000
106158880 SZYMKOWIAK JOHN F IL 138,000.00 10.600 0.000
106158908 GALLOWAY GARY L IL 84,567.01 9.070 0.000
106158977 LAPORTE DAVID A MI 20,000.00 12.750 0.000
106159011 EDWARDS JOHN R JR OH 36,000.00 9.650 0.000
106159012 EDWARDS JOHN R JR OH 44,000.00 10.150 0.000
106159237 STURDIVANT HAZEL IN 38,800.00 10.400 0.000
106159378 MITCHELL WILLIAM EDWARD IN 61,955.90 11.300 0.000
106159388 HELSON JOHN F IL 30,000.00 11.950 0.000
106159406 JACKSON RICHARD ANTHONY IN 43,200.00 12.850 0.000
106159478 GILMORE GAIL L OH 39,000.00 10.850 0.000
106159551 LEDERLE STEVEN M IN 49,300.00 10.050 0.000
106159676 DILLARD BRENDA KS 16,800.00 11.700 0.000
106159677 LEWIS LAVERNE M NE 37,900.00 11.200 0.000
106159711 TONK HAMPTON SCOTT IL 31,695.73 12.900 0.000
106159749 JACKSON BLANCHE M IL 40,482.12 12.650 0.000
106159903 SHORT LAURA K IN 50,000.00 9.550 0.000
106160220 SHANKS CHARLES B OH 48,500.00 9.050 0.000
106160376 LOCKHART LAURETTA L IN 29,400.00 9.650 0.000
106160629 WHATLEY ROSE C KY 28,800.00 13.000 0.000
106160835 KRAMER RICHARD L IN 55,100.00 10.500 0.000
800022055 SNELL REATHA NJ 64,469.98 12.950 0.000
800072324 HAAS JOHN E PA 21,922.73 10.750 0.000
800124851 HARDY DEBORAH A NC 38,185.47 10.800 0.000
800131211 ROLLE KELLY PRICE NY 137,314.38 12.850 0.000
800143521 LOPEZ CESAR A NJ 37,350.79 11.350 0.000
800147175 VILLAFANE ADA I PA 25,417.71 10.050 0.000
800178238 JONES ENID NY 83,184.95 12.650 0.000
800180507 PADULA CRISTOFORO PA 44,264.97 11.750 0.000
800193302 YOUNG RICHARD D NY 21,582.43 11.000 0.000
800201535 GILBERT GWENDOLYN E NJ 60,000.00 15.100 0.000
800221590 LEVIELLE HEIDI A NJ 103,863.47 11.550 0.000
800228058 BARNES MICHAEL F PA 24,126.30 10.500 0.000
800240418 PORTIS SALLIE M PA 65,350.00 12.500 0.000
800252843 ALICCHIO GLEN NJ 110,500.00 12.300 0.000
800263725 DEMORIN MARIE J NY 125,823.91 11.300 0.000
800274516 MORGAN JOYCE L FL 54,157.71 10.100 0.000
800277386 BARNETT MARIA A NY 199,773.17 9.875 0.000
800284994 ROBINSON CHRISTINE PA 30,946.12 12.000 0.000
800288342 CORMIER FRANK NY 95,200.00 11.100 0.000
800290611 ROBINSON UNDRACUS LAMAR SC 56,745.66 13.000 0.000
800311813 CHRISTNER DANIEL L FL 91,119.97 10.350 0.000
800315954 WANEES EMIL G NY 170,000.00 9.250 0.000
800321168 BURTON JERMAINE NY 179,100.00 10.900 0.000
800330433 KORNEGAY DAVID L NC 73,600.00 13.600 0.000
800332207 JOHNSON MILTON EDWARD JR MD 65,914.93 12.550 0.000
800335945 WILLIAMS TERRANCE A FL 70,550.00 12.100 0.000
800338147 WASHINGTON ESTELLE FL 39,100.00 12.300 0.000
800338956 SMITH WILLIAM C NJ 99,317.05 10.550 0.000
800343949 BOLDEN CHRISTOPHE L FL 36,800.00 13.650 0.000
800344475 WEDOW DAVID P NY 43,891.10 10.250 0.000
800345829 FINNELL MARK FL 47,700.00 10.650 0.000
800347999 SINGH RAJENDRA NY 134,400.00 12.650 0.000
800350068 BERNIER SPIN VIRGINIA NJ 60,000.00 9.950 0.000
800353500 DAUPHIN JEAN S FL 67,163.28 14.050 0.000
800356313 GELB EDWARD NY 59,414.85 10.000 0.000
</TABLE>
<PAGE>
<TABLE>
Page 3 of 34
A L L I A N C E F U N D I N G
A division of Superior Bank FSB
Loans Funded and Available for Sale to 1997-4 as of 12/19/97
<CAPTION>
Orig Current Note
Account Name State Principal Rate Margin
- --------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C>
800358228 WILLIAMS CLEO NJ 45,500.00 10.500 0.000
800360521 STAMOS LEONARD FL 62,170.73 10.500 0.000
800360653 MILLER PHIL NY 130,200.00 12.150 0.000
800367468 SEEKFORD HELEN R MD 48,000.00 9.050 0.000
800368219 PAYNE RAMONA L FL 34,500.00 11.200 0.000
800371742 VOLL ANTOINETTE CT 87,500.00 10.500 0.000
800373102 OMALLEY RICHARD NY 68,756.64 9.800 0.000
800375685 HALLADAY OPAL AZ 50,000.00 9.900 0.000
800376857 JOHNSON KENNETH W PA 17,000.00 13.740 0.000
800376907 KRESS RAYMOND A PA 46,750.00 11.900 0.000
800377178 HUMER CARL A PA 68,790.00 10.750 0.000
800379307 FERNANDEZ SYLVIA J NY 33,800.00 14.890 0.000
800379927 RUSSO CARMINE FL 34,271.39 8.900 0.000
800380560 BRUSH WILLIAM I JR FL 70,000.00 10.250 0.000
800383507 POLISTIN MARIE DC 133,600.00 13.100 0.000
800383556 ALMODOVAR WILLIAM R SR NJ 44,431.36 11.550 0.000
800383572 JONES MARLENE H MD 42,868.48 13.490 0.000
800383754 MYERS JACQUELYN R FL 37,600.00 11.990 0.000
800385353 PAYTON DENITA R PA 30,000.00 10.300 0.000
800386062 AANERUD STEPHEN FL 59,470.30 10.750 0.000
800387714 BROWN WILLIAM E PA 34,000.00 10.750 0.000
800389637 CRIGGER RONALD J WA 58,000.00 13.350 0.000
800389777 WHITECAVAGE PAUL J JR PA 12,800.00 13.500 0.000
800391542 LANDAHL JOHN L NY 140,250.00 11.950 0.000
800392235 JONES HAROLD WAYNE GA 83,700.00 10.625 0.000
800395931 LAMBERT TERRY D WA 46,400.00 12.600 0.000
800396566 BROWN ERNEST PA 48,610.87 11.750 0.000
800396897 PHAN LANANH THI FL 33,554.58 10.250 0.000
800396905 HARRIS MARY T VA 56,800.00 13.800 0.000
800397887 LIPANI ANNA NY 105,200.00 12.900 0.000
800401416 MALDONADO CHARLES H GA 121,500.00 10.800 0.000
800401424 LUTZ RICHARD C JR PA 50,400.00 12.600 0.000
800402158 PEARCE CRAIG NY 137,700.00 11.850 0.000
800402349 JEFFRIES BETH A FL 73,000.00 11.990 0.000
800402927 DETTORRE PASQUALE AZ 188,000.00 9.950 0.000
800403065 TUCKER JOHN PA 21,700.00 10.500 0.000
800403297 SLAFMAN DAVID PA 25,000.00 11.000 0.000
800403511 WHITE JOSEPH MD 31,992.67 13.000 0.000
800404261 COLLINS DEDRIAH NY 153,000.00 10.300 0.000
800405250 JONES WALTER J MD 32,992.26 10.450 0.000
800406399 COOK LAURA FL 67,906.26 10.000 0.000
800406506 D'ARINZO ANTOHNY J NY 108,800.00 11.250 0.000
800407710 MONTELEONE JAMES P NJ 64,500.00 13.240 0.000
800408858 CIQUERA LORI R FL 25,580.75 11.200 0.000
800408874 POUGH JERRY L GA 95,200.00 11.900 0.000
800409039 MANTA DARLENE NY 141,469.01 10.990 0.000
800409294 MELERO SOEL NY 107,100.00 11.850 0.000
800409633 NGUYEN LIEN VAN PA 19,931.84 9.550 0.000
800410037 ADIGUN ANTHONY A DC 110,500.00 10.050 0.000
800412074 SARGEANT JOYCE NY 60,000.00 10.950 0.000
800412579 BAKER KARL R MO 40,408.03 10.800 0.000
800413601 PARCHEN RAYMOND C NY 174,250.00 12.700 0.000
800413700 BRITT HENRY FL 12,227.71 10.200 0.000
800414146 WARREN RONALD V NC 82,450.00 13.000 0.000
800415622 WETHERELL CLARENCE PETER FL 57,800.00 10.550 0.000
800417149 LEHMAN META FL 39,750.00 10.400 0.000
800417800 CRAFT GABRIELLA GA 69,700.00 11.900 0.000
800418816 STEVENSON CRAIG S FL 63,500.00 10.600 0.000
800419665 SMITH MARILYN T FL 103,213.74 10.600 0.000
</TABLE>
<PAGE>
<TABLE>
Page 4 of 34
A L L I A N C E F U N D I N G
A division of Superior Bank FSB
Loans Funded and Available for Sale to 1997-4 as of 12/19/97
<CAPTION>
Orig Current Note
Account Name State Principal Rate Margin
- --------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C>
800419673 BENSON DEBRA A CO 104,800.00 11.500 0.000
800420788 BECKFORD JOAN E RI 32,300.00 11.750 0.000
800421646 BROWN KAREN NY 184,448.37 12.100 0.000
800423303 KUDDES SANDRA G UT 88,000.00 13.800 0.000
800425795 RISSEEUW ISAAC M OR 100,000.00 10.250 0.000
800426819 SWINTON JOHN W NY 31,500.00 11.250 0.000
800427544 LAMUN ROBERT E NV 134,000.00 12.500 0.000
800427627 KING PHAULS L FL 24,000.00 12.100 0.000
800429102 RUDY JAY N PA 118,800.00 11.800 0.000
800429292 ZEBERLEIN MICHAEL MD 52,481.07 10.950 0.000
800430506 PALLADINO MICHAEL PA 51,920.00 10.500 0.000
800432122 WOODGATE JAMES CLIFTON TN 44,000.00 9.150 0.000
800432460 TURNER JUANITA MD 135,000.00 10.990 0.000
800432817 CATO RICKEY GA 30,750.00 12.250 0.000
800433070 ST ROSE LAVERN A NY 75,600.00 10.800 0.000
800434300 HOWELL GEORGE JR PA 54,000.00 9.400 0.000
800434409 PEREIRA JOSEPH M MA 157,500.00 10.550 0.000
800437071 CLAYTON ULISHES NV 81,000.00 9.990 0.000
800437162 MATHEWS DIANA D NC 76,000.00 14.400 0.000
800438202 CHOMINSKY HARRIET S FL 53,550.00 9.550 0.000
800438301 SAXON ROBERT E NJ 144,000.00 10.550 0.000
800438400 GOSS ROGER L NV 80,500.00 9.150 0.000
800438905 GENTHER CHRISTOPHE RAYE MI 61,000.00 9.900 0.000
800438921 CASEY SADIE E. TN 26,625.00 11.000 0.000
800439168 DESELL ROY J MD 171,013.81 9.750 0.000
800439218 HENDERSON DENNIS PA 113,400.00 10.300 0.000
800439283 DIENST JOHN P PA 23,900.00 11.650 0.000
800439580 SCHARTNER ALICE M PA 64,000.00 8.800 0.000
800439630 JONES EDWARD W JR PA 61,742.11 10.650 0.000
800439663 NIEVES RICHARD GA 86,600.00 10.000 0.000
800440182 DEAS MARVIN SC 74,800.00 11.750 0.000
800440505 HUBBS JUDI M CA 24,000.00 9.400 0.000
800441602 BARRINER FREDDIE L FL 48,400.00 9.050 0.000
800441974 WASHINGTON BETTY J PA 29,750.00 11.150 0.000
800443038 IVORY DAN FL 44,100.00 11.050 0.000
800443442 GIORGIONE RITA NY 63,870.06 10.600 0.000
800443830 DROZD BONITA PA 44,000.00 13.250 0.000
800443863 HEFFRON ANDREW MD 43,400.00 13.350 0.000
800444200 IANNACCHIONE CARI H UT 43,200.00 11.250 0.000
800444366 WALLEN JOSEPH A II PA 60,179.85 11.050 0.000
800444606 PARTRIDGE RALPH S NY 121,550.00 8.900 0.000
800445553 WISE HAROLD T NC 40,000.00 11.200 0.000
800445736 BOURGEOIS TODD J FL 48,000.00 12.750 0.000
800445819 PRESSEAU BEVERLY A FL 61,107.45 9.500 0.000
800448334 CRUZ YOLANDA RI 45,500.00 11.750 0.000
800448755 MORGAN CHARLES R NM 37,400.00 12.250 0.000
800449183 SCHROEDER WILLIAM HENRY FL 68,800.00 10.900 0.000
800450033 PATTERSON SHANNON FL 64,000.00 11.800 0.000
800450074 PARKER LARRY JAMES JR NC 54,825.00 10.750 0.000
800450090 VICKERY ERNEST C NY 67,800.00 9.800 0.000
800450140 WERT CLARENCE L MI 72,250.00 11.650 0.000
800450264 SITARIK THOMAS E PA 64,000.00 11.000 0.000
800450298 SWIRYNSKY SHERRY OH 46,903.18 10.350 0.000
800450728 VIVELO PASQUALE A. NY 125,000.00 10.550 0.000
800451122 SIEWSANKAR DOODNATH NY 171,000.00 11.850 0.000
800452963 JOHNSON FRANKLIN FL 41,650.00 11.000 0.000
800453656 WHEBY DONALD B NY 88,000.00 10.600 0.000
800454373 KEEBER BETHANIE BARTON FL 53,550.00 9.990 0.000
800454464 FALODUN BEATRICE DC 101,150.00 11.900 0.000
</TABLE>
<PAGE>
<TABLE>
Page 5 of 34
A L L I A N C E F U N D I N G
A division of Superior Bank FSB
Loans Funded and Available for Sale to 1997-4 as of 12/19/97
<CAPTION>
Orig Current Note
Account Name State Principal Rate Margin
- --------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C>
800454472 AKINLOSOTU HENRY DC 110,500.00 11.050 0.000
800454605 GILLIAMS TYRONE D NC 63,350.00 11.400 0.000
800454712 MARCH CHARLES N NY 100,000.00 10.300 0.000
800454811 THOMAS DOLORES NJ 126,000.00 9.550 0.000
800455693 BOSLEY THOMAS M FL 24,200.00 12.000 0.000
800455933 VITA JAMES NY 161,250.00 11.000 0.000
800458234 BROWN RUSSELL LEE SR FL 44,000.00 11.800 0.000
800458267 BYRAM IDA P CT 99,150.00 11.750 0.000
800459885 AMATO JOHN R NY 124,000.00 10.150 0.000
800461204 MAGILL THURSTON NY 47,590.81 14.440 0.000
800461469 LOCKETT EVA J FL 88,000.00 12.250 0.000
800462509 BENTRUP RUDOLPH L MO 51,961.00 9.300 0.000
800462806 EHOUSSOU MATHIAS D GA 51,000.00 12.000 0.000
800462939 GOODWIN JOHN FL 47,000.00 9.990 0.000
800462947 GOODWIN JOHN FL 47,000.00 9.990 0.000
800463507 HARVEY GLADINE MD 51,000.00 9.550 0.000
800463994 LLOYD MARY F FL 32,345.21 11.990 0.000
800465304 MILBY KATHLEEN FL 45,700.00 11.750 0.000
800465783 JOHNSON DEON GA 68,850.00 11.900 0.000
800466013 LESTER JUANITA D FL 60,000.00 13.000 0.000
800466161 MAKOS GARY L PA 60,000.00 10.050 0.000
800466559 WHELPLEY JANET C FL 85,000.00 11.500 0.000
800467276 CHAVEZ VERNA J NM 63,375.00 12.750 0.000
800468225 ERCUL ALEXANDER P JR CO 80,971.35 11.050 0.000
800468977 RICHARDSON B KAREN NC 26,000.00 9.900 0.000
800469132 O'NEAL DREW NY 102,400.00 13.250 0.000
800469140 YOUNG GLEN JR FL 68,000.00 12.500 0.000
800469876 HILL ANITA L GA 50,000.00 11.000 0.000
800470502 BOGDAN ANDREW MD 44,625.00 11.150 0.000
800470593 POTTER CHARLES V NY 154,000.00 9.900 0.000
800470692 NICKSON RAMONA C FL 76,500.00 12.750 0.000
800470866 REGINA EDWARD JOSEPH PA 56,100.00 12.990 0.000
800470924 WILSON BERNARD NY 68,000.00 9.550 0.000
800471823 RAPPA MARK NY 112,000.00 12.850 0.000
800471849 CRAIN WILLIAM D CT 160,000.00 9.750 0.000
800471955 TOWNSEND WILLIAM H JR TX 28,000.00 10.500 0.000
800472011 UTRERAS BLANCA E FL 54,000.00 9.990 0.000
800472078 CURRY DENNIS ONEAL FL 62,100.00 10.800 0.000
800472086 FEMENIA ELISSA MARIE CT 100,000.00 10.250 0.000
800472185 CRAWLEY CLEETTA FL 31,680.00 10.990 0.000
800472201 ARGUETA NAHUM E NY 132,000.00 13.400 0.000
800472292 CHAPMAN ESTHER GRAY GA 54,000.00 9.550 0.000
800473266 ASHAR CHARU V NY 108,000.00 12.650 0.000
800473647 BRINGEDAHL ALLEN D MI 55,200.00 13.350 0.000
800474843 MARIN ROBERT H NY 91,500.00 12.000 0.000
800474967 WAGNER ORVILLE B PA 14,400.00 10.300 0.000
800475683 BANKS-JONES ANGELA NY 72,000.00 10.050 0.000
800475709 BANKS-JONES ANGELA NY 80,000.00 10.050 0.000
800477127 TOWNSEND WILLIAM H JR TX 25,188.39 10.500 0.000
800477176 VAKA PETER R CO 204,000.00 11.250 0.000
800477309 STALEY JEROME N PA 21,000.00 10.550 0.000
800477358 SULAJ YLLI PA 85,600.00 10.250 0.000
800478067 TURNER DONALD PA 24,850.00 11.750 0.000
800478216 DORMAN LINDA GAYLE NC 69,000.00 10.150 0.000
800478455 DAVIS GEORGE M NY 100,000.00 10.700 0.000
800478844 CARTER HUGH NY 72,000.00 8.650 0.000
800478901 CARTER HUGH NY 80,000.00 8.650 0.000
800480329 BRETZ MARK E MO 66,475.00 9.300 0.000
800480386 CARBONETTI MICHAEL PA 22,500.00 11.000 0.000
</TABLE>
<PAGE>
<TABLE>
Page 6 of 34
A L L I A N C E F U N D I N G
A division of Superior Bank FSB
Loans Funded and Available for Sale to 1997-4 as of 12/19/97
<CAPTION>
Orig Current Note
Account Name State Principal Rate Margin
- --------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C>
800480428 MANDELARO PAUL J SR PA 33,660.00 11.500 0.000
800480451 JOHNSON OLUSEAUN DC 100,300.00 11.650 0.000
800480618 WILLIAMS DONALD R GA 77,600.00 9.400 0.000
800481442 TORIBIO MANUEL D FL 41,600.00 9.500 0.000
800481509 EDWARDS MARY NY 42,000.00 10.150 0.000
800482150 HORAN TIMOTHY J CT 122,900.00 11.000 0.000
800482556 RANDOLPH DELRINE PA 39,100.00 10.800 0.000
800482572 RINGGOLD JOHN PA 33,150.00 12.500 0.000
800482671 LIBERATORE PAUL J MO 194,900.00 9.650 0.000
800485682 THOMPSON BRIAN R FL 85,000.00 10.750 0.000
800485773 POWELL DOLORES T SC 74,500.00 8.700 0.000
800486532 FAGUNWA MOSES DC 111,600.00 10.800 0.000
800487142 SIZEMORE WAYNE D FL 120,000.00 9.150 0.000
800488082 RAMSEY BERNIECE V FL 32,000.00 10.750 0.000
800488298 PARKER JOHNNIE E NC 67,000.00 11.850 0.000
800488900 MCKINNEY VICKI L FL 128,000.00 10.990 0.000
800490161 BANKS CANDACE S FL 55,250.00 9.300 0.000
800490542 BUTLER ALPHONSO FL 26,250.00 11.750 0.000
800490815 WILLIAMS WARREN BRUCE UT 80,000.00 11.900 0.000
800491367 RAWLINSON SYLVIA M MD 34,500.00 9.650 0.000
800492498 BARTLETT KIM LOUIS FL 23,000.00 10.750 0.000
800493660 DONAGHUE WESLIE FL 51,000.00 8.650 0.000
800493777 BUNTON CHARLES NY 55,000.00 10.750 0.000
800493983 MBANEFO VINCENT DC 85,500.00 10.650 0.000
800497372 JONES TOMMIE FL 47,200.00 13.250 0.000
800501371 CLATTERBAUGH DANIEL PA 86,400.00 9.375 0.000
800502296 MARTINEZ BARBARA T CO 112,625.00 11.750 0.000
800502536 PRINCE RICHARD FL 41,600.00 10.300 0.000
5000000157 DENNIS HATTIE LEE FL 49,900.00 12.825 0.000
5000000199 CORSON SHIRLEY A FL 62,200.00 10.780 0.000
5100000214 CORRIS RAYMOND J WA 127,401.00 10.675 0.000
5100000594 VAN GORDON OPAL OR 81,153.00 12.810 0.000
5100000644 QUARLES WILLIAM WA 184,000.00 10.525 0.000
5100000743 EDDY DUANE R WA 116,600.00 9.720 0.000
5100001642 FEIL GUY W WA 113,100.00 9.320 0.000
5100002186 GIX ROBERT H WA 78,300.00 11.625 0.000
5100002269 ENGH GARY R WA 65,692.00 11.375 0.000
5100002640 WELLS MARILYN J OR 81,345.00 9.320 0.000
5100002863 ENBYSK BRENT W OR 91,810.00 9.670 0.000
5100003200 JOHNSON JUDIE WA 102,073.00 11.990 0.000
5100003267 WEST JOHN CARL WA 107,200.00 13.490 0.000
5100003499 BITTERMAN ERMA L OR 52,100.00 10.640 0.000
5100003580 HOCHSTEDLER GENE H WA 49,400.00 11.275 0.000
5100003804 DODSON JAMES H OR 108,500.00 10.840 0.000
5100004422 HOPKINS ALAN E OR 106,500.00 9.125 0.000
5100004505 POTTER THOMAS LEROY OR 58,700.00 11.375 0.000
5100004844 RODERICK MICHELE S WA 56,300.00 12.375 0.000
5100005049 DOSTIE FRANCIS J MA 72,600.00 9.775 0.000
------------------------------------------------------------------------------------------------
Loans in Servicing not yet tagged for sale 341 24,129,587.07
106156844 SHELLEY COLBERG IL 25,200.00 12.350 0.000
106156872 HORN SUE ANN MI 44,000.00 10.500 0.000
106157861 KENSA FLORIAN MI 26,800.00 14.140 0.000
106159724 VANBUREN PHILIP D. MI 28,000.00 9.250 0.000
800345134 FROHLICH EDWARD FL 109,600.00 9.350 0.000
800350969 EDWARDS DAVID JR MD 161,500.00 12.500 0.000
800359341 YOUNG TERRY D NY 22,950.00 10.850 0.000
800396319 DEDEN OLIVER W CO 82,000.00 10.700 0.000
800426579 DILL GRACE M. NC 65,500.00 10.200 0.000
</TABLE>
<PAGE>
<TABLE>
Page 7 of 34
A L L I A N C E F U N D I N G
A division of Superior Bank FSB
Loans Funded and Available for Sale to 1997-4 as of 12/19/97
<CAPTION>
Orig Current Note
Account Name State Principal Rate Margin
- --------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C>
800427742 RAMOS RENATO C NJ 120,000.00 10.850 0.000
800437105 JOHNSON SR DONALD S DC 78,000.00 11.700 0.000
800455792 COCKRUM DOUGLAS B WA 144,500.00 8.800 0.000
800473415 WILSON LINDA L FL 36,800.00 13.000 0.000
800473993 CASTRO SYLVIA M AZ 49,500.00 10.800 0.000
800480162 TORRANCE ALLEN D PA 18,200.00 12.500 0.000
800495376 MACDONALD TIMOTHY M PA 92,000.00 8.900 0.000
-----------------------------------------------------------------------------------------------
Loans Funded and not yet in Servicing 16 1,104,550.00
Total Fixed Rate Loans Funded and Available: Sub-Pool I 357 25,234,137.07
</TABLE>
<PAGE>
<TABLE>
Page 8 of 34
A L L I A N C E F U N D I N G
A division of Superior Bank FSB
Loans Funded and Available for Sale to 1997-4 as of 12/19/97
<CAPTION>
Orig Current Note
Account Name State Principal Rate Margin
- --------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C>
SUB-POOL II: FIXED RATE LOANS AVAILABLE FOR SALE
-------------------------------------------------
106139634 WALKER CHARLES R UT 27,584.55 15.350 0.000
106148941 WOOLLEY DONALD R AZ 15,757.26 12.900 0.000
106151066 SMITH RUSSELL A UT 24,956.24 13.100 0.000
106151595 CASE TRACY L OR 35,971.84 13.875 0.000
106151838 ELMER JAMES AZ 128,256.65 12.100 0.000
106152139 DIPASQUALE MICHAEL D AZ 15,983.84 12.500 0.000
106152617 CHANDLER JOSEPH P NJ 174,708.07 13.450 0.000
106152710 REMINDER ROBERT LEO AZ 16,914.13 12.950 0.000
106153237 INGERSOLL BRADLEY J MN 67,200.00 9.570 0.000
106153522 JOCHUM KENNETH MN 35,000.00 12.275 0.000
106153606 SINGLETON FRANKLIN NY 93,700.00 14.300 0.000
106153711 ZIELINSKIE JOSEPH H NJ 193,600.00 12.125 0.000
106153921 ODMAN GARY J MN 55,700.00 10.375 0.000
106153991 BARTZ FRANK C IN 27,005.26 12.625 0.000
106154058 SAGE PETER KEVIN IN 33,500.00 12.525 0.000
106154108 HUDSON PHYLLIS J MN 79,800.00 12.375 0.000
106154159 SCHMID THOMAS C OH 61,600.00 14.650 0.000
106154187 GREENO DANIEL ERIC MN 10,000.00 11.875 0.000
106154257 ROSS DENNIS R WI 26,700.00 11.490 0.000
106154447 CRIPE KEVIN B IN 32,000.00 14.625 0.000
106154537 BODENCHAK DAN F NJ 75,600.00 11.275 0.000
106154540 CACCAMISE JAMES A NY 55,250.00 11.125 0.000
106154577 REEVES WILLIAM DEAN IN 20,600.00 10.875 0.000
106154618 MCNALLY JOSEPH D IN 69,300.00 9.000 0.000
106154646 KORSMO DANIEL G WI 31,400.00 10.375 0.000
106154728 GRAMINSKE CONNIE L WI 15,000.00 12.375 0.000
106154737 PIKE JAMES D WI 38,900.00 11.125 0.000
106155016 POWELL ANNA M OH 17,500.00 12.025 0.000
106155038 STOCKTON BENJAMIN E IN 11,600.00 11.375 0.000
106155040 WHITE EVA M KY 28,700.00 12.875 0.000
106155049 SCHWEITZER LEN E KY 28,000.00 11.625 0.000
106155066 SCHALOW DIANA WI 23,400.00 12.750 0.000
106155145 KLIEFOTH MARY E WI 32,000.00 11.875 0.000
106155148 CARROLL LAURA MAE IN 15,162.07 11.625 0.000
106155149 JOHNS CHARLES R IN 37,900.00 12.375 0.000
106155164 OBENAUER DENNIS W WI 33,700.00 10.625 0.000
106155169 SCHWENKE LINDA L WI 31,400.00 12.375 0.000
106155200 LANGE JEFFREY R WI 36,100.00 9.000 0.000
106155370 PEGG JACK F IN 22,000.00 11.750 0.000
106155443 GROSLIE DEWEY L WI 30,700.00 12.625 0.000
106155445 FASSETT DONALD C MN 64,500.00 9.320 0.000
106155452 GRAMS SCOTT K MN 26,300.00 12.375 0.000
106155465 THOMAS PATRICK L IN 30,300.00 12.375 0.000
106155497 DEVEAUX JOHN C IL 146,715.08 12.350 0.000
106155528 BRAUNE JANICE K WI 28,873.98 12.625 0.000
106155619 PROVENZANO NICHOLAS SR WI 26,000.00 11.125 0.000
106155640 GARTON LEE R IN 25,735.00 12.140 0.000
106155641 DEBOER MARVEL F IN 87,200.00 9.320 0.000
106155756 BRECHTEL CRAIG D IN 71,083.52 9.445 0.000
106155821 EISELE NANCY WI 29,200.00 10.625 0.000
106155827 DICKINSON CAROL IN 66,600.00 11.625 0.000
106155867 RICCO SEBASTIAN OH 101,055.65 11.100 0.000
106155874 HUFFMAN JILL IN 16,000.00 12.875 0.000
106155934 DACRES COLIN O NY 25,000.00 10.300 0.000
106155952 HUGHES BARBARA IN 34,300.00 13.740 0.000
106155960 DVOJACKI RONAULD R IN 31,000.00 11.625 0.000
106156042 TEMPLE ROSEMARIE J IN 15,800.00 11.625 0.000
</TABLE>
<PAGE>
<TABLE>
Page 9 of 34
A L L I A N C E F U N D I N G
A division of Superior Bank FSB
Loans Funded and Available for Sale to 1997-4 as of 12/19/97
<CAPTION>
Orig Current Note
Account Name State Principal Rate Margin
- --------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C>
106156044 KOCS KATHERINE J WI 9,400.00 13.990 0.000
106156189 DUXBURY DUANE J NY 16,900.00 10.625 0.000
106156216 REDDEN CARMEN IN 28,800.00 12.625 0.000
106156257 KERITY ABRAHAM NY 217,000.00 11.350 0.000
106156292 BELL MURELIN IL 13,259.27 11.800 0.000
106156300 WILSON DANNY LEE MN 21,000.00 11.625 0.000
106156343 BURGASSER ELIZABETH JEAN NY 49,900.00 13.625 0.000
106156378 DAVIS DENNIS ALAN WI 34,000.00 10.625 0.000
106156453 HADLEY CHARLES IL 270,000.00 13.350 0.000
106156489 ALTIERE DONNA L IN 34,000.00 12.625 0.000
106156496 SCHIFF SILKE S TN 22,500.00 11.625 0.000
106156507 BOWERLY MONA L IN 31,200.00 11.625 0.000
106156569 ROBINSON BARBARA J IL 109,593.75 12.900 0.000
106156574 HERITAGE PRO PERTIES LT D NY 305,000.00 11.200 0.000
106156599 FENRICH WILLIAM G JR WI 40,100.00 11.875 0.000
106156605 LONGS CURTIS WI 17,600.00 12.250 0.000
106156608 ENGLAND CAROLYN A IN 51,900.00 11.875 0.000
106156612 MACK LAWRENCE E IN 31,400.00 10.625 0.000
106156614 MCKINNEY ALICE M TN 21,000.00 10.775 0.000
106156638 BLOCK MARVIN H WI 35,800.00 10.625 0.000
106156642 BETSON MARIA VINEYARD TN 72,600.00 9.445 0.000
106156646 MILLER NATHAN D IN 11,899.16 11.275 0.000
106156647 MADSEN JEFFREY Q MN 24,800.00 11.625 0.000
106156650 NESS DELORES M MN 18,000.00 12.375 0.000
106156662 LACKOVIC MARY E WI 26,000.00 12.750 0.000
106156665 JABLONSKI ROBERT J WI 20,300.00 10.875 0.000
106156748 GUTSCHOW JULIA M WI 72,400.00 9.445 0.000
106156751 WHITMAN CHARLES E WI 59,500.00 9.445 0.000
106156754 SCHMIDT DENISE M WI 52,000.00 9.445 0.000
106156807 GORDON STUART NY 96,400.00 12.625 0.000
106156836 RIDGWAY BRET IN 79,200.00 9.445 0.000
106156837 RIDGWAY BRET IN 17,000.00 10.625 0.000
106156893 CAMPBELL ELI IL 160,358.34 12.100 0.000
106156900 LORGAN EDWARD R NY 44,800.00 9.625 0.000
106156904 CONNER LORETTA NJ 19,600.00 10.775 0.000
106156905 BAYE HOWARD E NY 39,600.00 10.625 0.000
106156934 PARKS DAVID N TN 40,700.00 12.875 0.000
106156949 WRIGHT MICHAEL R IN 13,000.00 13.625 0.000
106156953 HOOKER MICHAEL A WI 27,400.00 12.875 0.000
106156959 LUCAS VANESSA LYNN WI 20,800.00 12.625 0.000
106157017 GREATHOUSE CONNIE KY 18,700.00 11.390 0.000
106157149 KILFOYLE DANIEL NY 24,827.94 10.425 0.000
106157160 STREBLOW LLOYD H WI 28,000.00 10.875 0.000
106157161 SHARP JEFFREY S KY 23,000.00 11.625 0.000
106157165 BENDELE PATRICK IN 10,000.00 12.390 0.000
106157176 KING GORDON P WI 21,800.00 11.625 0.000
106157216 ANTHONY LOUIS JOSEPH CT 550,000.00 11.500 0.000
106157225 LACKIE MICHAEL J NY 32,900.00 10.625 0.000
106157264 BELL MICHAEL D OH 28,000.00 13.500 0.000
106157271 NIX DAVID F TN 23,100.00 12.625 0.000
106157318 RUTA JOAN NJ 34,500.00 11.875 0.000
106157319 MCCONNELL GREGORY A NY 62,200.00 9.000 0.000
106157320 KOONS FREDERICK C NY 61,800.00 10.625 0.000
106157324 REID HENRY W MI 29,792.27 10.200 0.000
106157352 STOGSDILL SHERMAN JR IN 68,000.00 9.195 0.000
106157572 FRITSCH GREGORY E WI 16,300.00 13.375 0.000
106157573 DOUWSMA KAREN S IN 17,187.02 10.740 0.000
106157579 WEINKE CAROLYNN A WI 25,300.00 11.975 0.000
106157582 WATSON DOROTHY KAREN IN 33,100.00 12.500 0.000
</TABLE>
<PAGE>
<TABLE>
Page 10 of 34
A L L I A N C E F U N D I N G
A division of Superior Bank FSB
Loans Funded and Available for Sale to 1997-4 as of 12/19/97
<CAPTION>
Orig Current Note
Account Name State Principal Rate Margin
- --------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C>
106157611 LANE CHARLENE R IN 64,900.00 9.320 0.000
106157613 SMILEY CLYDE ALLEN IN 18,700.00 10.875 0.000
106157644 CLEMENTS PHILIP J WI 26,800.00 12.500 0.000
106157651 VANDERMOLEN JEFFREY S WI 25,000.00 12.250 0.000
106157657 TEASDALE DAVID A IN 82,400.00 9.320 0.000
106157684 LERCH ARLAN F WI 33,300.00 12.275 0.000
106157734 ALESSI ROSEMARIE NY 18,700.00 10.375 0.000
106157735 LINDSTROM RANDI E NJ 15,500.00 11.375 0.000
106157738 BOSS ALEX NY 21,300.00 12.240 0.000
106157755 MENZER LAWRENCE NY 63,800.00 12.750 0.000
106157825 FERDINARDO TINA IL 21,500.00 11.050 0.000
106157834 HITZ ROBERT D IN 52,800.00 9.125 0.000
106157909 STEPHENS JOSEPH F NY 29,500.00 10.625 0.000
106157961 DRAUGHON ANTHONY R IN 7,936.45 12.240 0.000
106158004 ARMAND JOUVENEL IL 108,880.57 11.950 0.000
106158028 MOYLAN KEITH NY 18,600.00 10.625 0.000
106158124 MILLER PATRICIA B CO 25,275.54 11.600 0.000
106158137 HALAS KRISTI OH 14,700.00 12.750 0.000
106158145 BYNUM OSBAN W JR NY 30,100.00 10.875 0.000
106158229 FLYNN KEVIN NY 27,300.00 11.625 0.000
106158303 PERKINS MAE W OH 105,000.00 10.700 0.000
106158325 TOKARSKI NORBERT IL 26,000.00 10.750 0.000
106158351 STRILECKY PHILIP D TN 50,000.00 10.625 0.000
106158495 INMAN LOWELL GREGG IN 17,659.81 12.390 0.000
106158635 CHOI W LAVAUGHN IN 30,500.00 11.000 0.000
106158703 MARINCIC MARK ALBERT IL 32,000.00 10.300 0.000
106158714 WILSON JACKIE RAMSEY IN 44,400.00 11.550 0.000
106158729 EVERETTE ELIGHER L IL 86,100.00 13.450 0.000
106158752 MEISCH CAROLE A IL 44,800.00 10.900 0.000
106158806 LEVITANSKY YEHUDA M OH 192,500.00 12.950 0.000
106158831 MILLER HAROLD WI 53,900.00 11.150 0.000
106159102 HOLBROOK BILLIE RAY OH 77,400.00 10.125 0.000
106159162 CASTREJON SALVADOR IL 32,000.00 11.300 0.000
106159255 FITZPATRICK RICHARD C IN 27,300.00 11.425 0.000
106159304 PHILAVONG KHAMPHAENG IL 131,700.00 11.500 0.000
106159308 HAMILTON RICHARD T MN 29,400.00 12.250 0.000
106159310 ERNST NAOMI A MN 32,500.00 12.500 0.000
106159327 WARE WAYNE IL 392,500.00 15.500 0.000
106159367 FIRAK JULIUS J IL 15,951.02 12.700 0.000
106159621 FELTEN RUSSELL G MN 22,100.00 12.750 0.000
106159643 PICADO RONALD IL 193,900.00 12.600 0.000
106159733 NAGEL BETTY IL 481,800.00 11.500 0.000
106159770 BROWN THERESA IL 22,000.00 10.750 0.000
106159855 SHELTON JACK E WI 64,100.00 13.100 0.000
106160254 DE RUYTER NY 59,500.00 8.625 0.000
106160498 HARSHMAN STEVEN M MN 79,000.00 9.650 0.000
106160523 AHEARN MARK NY 34,000.00 10.625 0.000
106160538 PETERS ROBERT J IL 30,000.00 10.250 0.000
106160610 SLEBIODA DENNIS H NY 17,100.00 10.250 0.000
106160720 BARNHOUSE BARBARA J IL 64,800.00 10.750 0.000
106160936 CECIL JOANN IN 18,200.00 13.750 0.000
106160964 MIDDLEBURY INVESTMENT CO CT 210,000.00 10.700 0.000
800057721 ARMSTEAD DAVID JR NY 89,289.12 12.600 0.000
800077034 YANES JOSE ANTONIO NY 187,945.26 12.250 0.000
800085797 JUMP ROBERT G FL 23,305.68 12.750 0.000
800101123 JONES ALVIN H MD 49,070.05 10.500 0.000
800103350 MELENDEZ MARIA NJ 88,506.37 12.250 0.000
800139073 GONZALEZ JOSEPH D NY 282,233.86 10.750 0.000
800149056 BALYOZIAN CHARLES J MA 34,800.00 12.000 0.000
</TABLE>
<PAGE>
<TABLE>
Page 11 of 34
A L L I A N C E F U N D I N G
A division of Superior Bank FSB
Loans Funded and Available for Sale to 1997-4 as of 12/19/97
<CAPTION>
Orig Current Note
Account Name State Principal Rate Margin
- --------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C>
800172413 HARTKE JEFFREY S NJ 94,998.42 11.800 0.000
800174062 DIPAOLO ANNETTE NJ 28,040.89 11.850 0.000
800177818 ARANGO CARMEN BORGES NY 49,985.69 12.000 0.000
800181869 PHILPOT THEODORE JR NY 248,482.88 11.900 0.000
800210742 SHIN TAE KUK NY 99,980.71 13.750 0.000
800216723 GARNER JAMES C MD 28,493.79 12.050 0.000
800228603 JUN CLARA KEUM J NY 48,778.41 10.750 0.000
800230161 DAILEY ROBERT S PA 24,142.73 11.400 0.000
800231664 DISTANT LORENZO NY 155,700.00 12.100 0.000
800234379 KAYE MARILYN NY 50,900.00 13.700 0.000
800234742 LEVIT LEONID NY 127,803.71 12.990 0.000
800235616 TAERSTEIN ELI NY 113,777.91 12.250 0.000
800236010 WRIGHT JOHN MACK FL 22,497.67 14.200 0.000
800256307 KOL ARON NY 49,422.41 12.250 0.000
800267015 TRAKANSOOK DEGHUNDIT NY 136,000.00 13.650 0.000
800276966 ZOBEL HILLER B MA 99,741.10 9.750 0.000
800287807 TAYLOR ALLAN L UT 15,888.09 12.600 0.000
800291429 SCARBROUGH JOHN R FL 22,974.49 14.000 0.000
800292278 PRICE TERRY B UT 16,150.00 11.600 0.000
800292500 SMITH KATHRYN DE 241,400.00 11.500 0.000
800293144 WADE EVERETT RUSSELL MD 72,942.50 12.250 0.000
800296360 MURDOCK SHAWN PATRICK UT 50,776.00 11.450 0.000
800297350 SHEPHERD BILL A CO 72,680.00 11.350 0.000
800299463 JUBINA STEPHEN P CA 110,000.00 12.850 0.000
800300725 CHARLES RUBY E GA 11,090.50 12.625 0.000
800302549 DOSCHER FREDERICK L NY 23,000.00 11.800 0.000
800303810 DAVIS THOMAS M WA 16,029.32 10.900 0.000
800305013 HACKMAN SUSAN ID 39,000.00 12.375 0.000
800307027 TURNER JAMES D UT 22,739.90 11.150 0.000
800307217 PETROSKY WILLIAM J FL 78,500.00 12.450 0.000
800311730 BARDIN JEFFREY E. CA 24,100.00 12.100 0.000
800312571 MARCECA ANGELO NY 35,000.00 13.150 0.000
800314171 GREGORY STEPHEN R. MO 28,954.65 11.150 0.000
800314411 NARCISSE ROSETTE NY 234,785.17 10.900 0.000
800314627 ROLPH JOHN J UT 15,346.00 11.550 0.000
800315350 VONK RICHARD UT 34,630.10 10.100 0.000
800316663 DOUGLAS CALVIN NY 233,100.00 11.950 0.000
800316671 JENNERJAHN JULIE NM 53,900.81 12.900 0.000
800320103 MARSHALL TIMOTHY B OR 33,250.85 13.100 0.000
800320293 HALVICK RAYMOND M FL 11,355.95 10.900 0.000
800320822 DEJNO KIM A MN 19,435.73 11.400 0.000
800322554 TALBOTT-MERR MARJORIE L. FL 33,756.00 12.000 0.000
800324899 ANTOSH CHRISTINE A. AZ 24,117.15 10.450 0.000
800325813 KERNBERG MARTIN E. CA 109,350.00 12.900 0.000
800327975 IMADA JOHN ALLEN UT 18,100.00 14.350 0.000
800328452 SPARACINO FRANCES NY 125,000.00 10.600 0.000
800328759 VALENTI RALPH NY 50,000.00 11.550 0.000
800329732 VOORHEES KELLY R UT 14,000.00 12.300 0.000
800329799 PINA MARGARET RI 59,237.83 11.500 0.000
800331159 PATTON KENNETH C NY 71,950.00 14.350 0.000
800334062 MCKILLOP THOMAS C PA 50,500.00 10.650 0.000
800334138 CONTE FRANK NY 50,000.00 12.850 0.000
800335226 PRATT STEVEN L UT 35,964.21 11.250 0.000
800336323 DELMAZIO PHILIP S. CT 67,596.53 10.850 0.000
800338295 DRAGO STEPHEN J NY 127,718.68 10.250 0.000
800338568 LARSEN MURRY D ID 27,170.00 15.150 0.000
800339491 VARCIANNA HEZEKIAH NY 203,502.24 9.990 0.000
800339996 ESCOBAR AMBROSIO VA 34,671.51 11.850 0.000
800341901 ROMEO RICHARD NY 13,956.37 14.650 0.000
</TABLE>
<PAGE>
<TABLE>
Page 12 of 34
A L L I A N C E F U N D I N G
A division of Superior Bank FSB
Loans Funded and Available for Sale to 1997-4 as of 12/19/97
<CAPTION>
Orig Current Note
Account Name State Principal Rate Margin
- --------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C>
800341935 DAMIS PIERRE NY 198,000.00 11.900 0.000
800343519 SMITH WESLEY D MN 33,474.50 11.050 0.000
800345241 SKOLNEKOVICH IVAN J CO 63,448.96 11.600 0.000
800345324 STILLINGS JOHN F FL 24,653.76 11.350 0.000
800345951 EASTGATE TODD A MN 11,825.65 10.900 0.000
800346314 FELICIANO DANIEL NY 163,544.71 11.500 0.000
800346363 POLVERARI RICHARD F WA 49,934.34 12.950 0.000
800347528 GROENE DONALD L FL 20,200.00 10.900 0.000
800349102 BINGHAM DARRELL M UT 11,000.00 15.000 0.000
800351405 OLMEDA MIGUEL CT 83,362.71 11.200 0.000
800351884 SYLVAN KAYVAN CA 29,500.00 11.250 0.000
800352296 PASSERO SALVATORE NJ 12,428.19 12.100 0.000
800352460 STAVROPOULOS SOTIRIOS NY 96,219.99 12.500 0.000
800352668 LEE CHUNG K CA 117,437.00 12.550 0.000
800352734 LEE IN YOON NY 50,000.00 11.850 0.000
800354573 RIDLEY LUCILLE GA 12,896.82 13.050 0.000
800354839 WEYBURN SCOTT E UT 37,500.00 11.300 0.000
800354987 FERRAR MICHAEL K AZ 104,900.07 10.600 0.000
800356180 BROWN PAUL IOHANI UT 11,633.16 13.900 0.000
800356271 QUINTANAR MICHAEL J CO 45,815.58 13.650 0.000
800356370 WILLIAMS RANDY SCOTT UT 70,959.43 12.500 0.000
800356602 ADAMCIK THOMAS AZ 25,900.00 11.500 0.000
800358103 HOOSEIN FIZAL NY 33,300.00 12.350 0.000
800359705 JACKSON ALVIN CO 22,000.33 10.900 0.000
800360422 ERICSON JOHN NY 30,000.00 12.900 0.000
800360711 BOOTS GLORIA J DE 29,243.79 12.250 0.000
800362691 BRACE RONALD E FL 19,272.97 11.650 0.000
800363954 COLELLA DIANE M NV 29,400.00 12.100 0.000
800364986 NUNES NAIR A GA 21,380.71 12.900 0.000
800365074 BURR KEVIN C AZ 32,365.00 12.000 0.000
800365272 BLACKBURN STEPHEN ID 30,746.15 12.875 0.000
800365983 WILLIAMS ARLENE NY 137,900.00 10.850 0.000
800366411 JAMES DEVON ANTHONY NY 229,407.99 12.450 0.000
800366866 BOULLY IRA LEROY CO 39,950.00 12.500 0.000
800367039 CODY ESTER A CA 41,272.17 11.600 0.000
800367377 PRICE DENNIS D SC 106,250.00 12.900 0.000
800367997 CHAPLAIN JOSEPH FL 34,000.00 12.900 0.000
800368128 PROSSER JAMES D SC 37,443.58 10.700 0.000
800368359 GONZALEZ EDMUND NY 97,264.05 9.900 0.000
800372450 FARRELL RACHEL A NY 99,900.00 11.900 0.000
800373094 WHITE MERRY S UT 111,600.00 8.375 0.000
800373342 KUNZ STEVEN E UT 36,837.84 11.250 0.000
800374209 NIELSEN DAVID E UT 61,150.00 12.000 0.000
800374423 FLEISCHER CARL H GA 99,860.82 11.300 0.000
800374472 WRIGHT CHRISTOPHE B PA 10,268.41 11.500 0.000
800375032 MCWILLIAMS JAMES D DC 29,968.52 12.400 0.000
800375545 GRAHAM TODD T FL 29,450.00 12.250 0.000
800375719 ELDRIDGE MELVIN E AZ 12,661.06 11.650 0.000
800375743 HURST IRWIN M FL 13,750.00 13.250 0.000
800376634 WEE GEOK CHOO CA 46,695.03 11.850 0.000
800377772 PUCKETT RANDALL G OR 24,954.14 11.600 0.000
800378226 LEE SAMUEL Y NY 61,897.06 11.250 0.000
800378838 BEAN RUSSELL L UT 13,066.00 12.950 0.000
800378853 NELSON TODD A UT 33,000.00 11.000 0.000
800379745 SMEDSTAD CRAIG M MN 24,965.94 12.950 0.000
800379778 DURAN SERGIO J CA 21,171.62 11.300 0.000
800379885 HOSTETLER JAMES OR 35,455.13 11.750 0.000
800381410 BRASIER RICHARD L CO 82,000.00 13.850 0.000
800381428 DUGAS GUY M NY 25,000.00 9.400 0.000
</TABLE>
<PAGE>
<TABLE>
Page 13 of 34
A L L I A N C E F U N D I N G
A division of Superior Bank FSB
Loans Funded and Available for Sale to 1997-4 as of 12/19/97
<CAPTION>
Orig Current Note
Account Name State Principal Rate Margin
- --------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C>
800381881 FORAN DAREN J WA 41,790.00 11.150 0.000
800381931 ZICARELLI MAURICE J FL 11,884.34 12.750 0.000
800383374 EASTERS DENNIS J FL 17,000.00 10.600 0.000
800385072 JOSLYN DOUGLAS S WA 17,000.00 12.875 0.000
800385635 WECHSLER LEONARD A AZ 53,254.00 11.350 0.000
800386666 CLARK TONY NJ 166,500.00 12.200 0.000
800387037 BOLT DOREL O FL 17,181.52 11.150 0.000
800387631 AILES ROBERT E MD 64,000.00 13.400 0.000
800388233 RUBY MARIE J NY 56,700.00 12.250 0.000
800388449 WANLASS AMY J. UT 17,948.41 10.850 0.000
800388522 BAUGH-HOPPES KATHERINE CO 22,150.00 12.100 0.000
800388670 ROGERS JOE J CO 41,982.00 11.150 0.000
800388696 BONSACK RACHEL I MN 19,541.00 13.200 0.000
800389017 PADILLA LEROY M CO 27,986.77 11.150 0.000
800389256 COOPET JAMES A MN 20,317.12 11.300 0.000
800391302 POPE WAYNE J NY 50,000.00 12.490 0.000
800391757 FERGUSON THERESA S FL 15,000.00 12.800 0.000
800391864 JOHNSON ROGER L PA 28,909.79 12.150 0.000
800393787 CERASI PAUL NY 39,879.05 13.150 0.000
800393936 BELL JAMES P UT 58,014.00 11.550 0.000
800394306 MCMULLIN SCOTT UT 22,800.00 12.600 0.000
800394652 COONEY YVONNE A MD 24,000.00 11.750 0.000
800394918 GUTFREUND MEIR NY 143,000.00 11.300 0.000
800395261 MONSEN CHRISTINE UT 14,738.00 12.040 0.000
800395998 BYRD BRENDA A SC 43,280.00 11.950 0.000
800396277 JORGE FERNANDO C. CT 90,900.00 9.900 0.000
800397358 O'KEEFE RANDY WA 42,416.34 13.350 0.000
800397598 JOHNSON PAMELA A UT 37,000.00 13.300 0.000
800397945 CORCORAN KERRY NJ 13,700.00 12.350 0.000
800397994 STOUT THOMAS L FL 19,112.32 10.800 0.000
800398729 STEVENS CHARLES E VA 57,550.00 11.550 0.000
800400673 ADAMS KENNETH S UT 16,831.57 14.300 0.000
800401580 HENRIKSBO REIDAR J WA 30,463.00 10.975 0.000
800402265 RICCIO ANTHONY JR CT 31,400.00 12.800 0.000
800402828 NASERI M SHAFI CO 33,000.00 13.100 0.000
800403024 GAROFALO JOHN M III PA 43,000.00 10.600 0.000
800403271 MARRONE MICHAEL J NY 52,300.00 11.550 0.000
800404063 PENN OLIVER L IN 20,700.00 10.050 0.000
800404618 ABRAMS HARVEY GENE OR 15,774.12 12.150 0.000
800405722 CREECH PAULINE C NC 11,968.98 11.250 0.000
800406050 CHANDLER PAUL A GA 34,400.00 13.550 0.000
800406373 KHORRAMIAN MOHAMMAD T FL 15,972.00 12.100 0.000
800406795 OVERFELT CHARLES CA 68,235.00 12.850 0.000
800406936 PAWLOWSKI JEFF L UT 13,000.00 12.950 0.000
800406944 BILLS JEFF D UT 26,753.00 13.500 0.000
800407090 BURR PHILLIP WA 46,500.00 12.500 0.000
800407132 COLLINS KENNETH V MN 40,817.20 11.550 0.000
800408718 OLSON WAYNE L MN 15,000.00 11.650 0.000
800408924 JOHNSON TRAMPUS S FL 38,800.00 12.550 0.000
800409500 LEWIS LUCY P UT 12,400.00 13.300 0.000
800410011 PHILLIPS JAMES M MD 63,000.00 11.750 0.000
800410474 SUSSINA VICTOR SR PA 46,990.51 11.500 0.000
800410664 COATS WILLIAM A FL 37,951.69 11.550 0.000
800410763 REECE BENJAMIN G JR NC 53,912.51 9.990 0.000
800411142 BOTTENFIELD DAVID NY 35,894.61 11.000 0.000
800412132 KENNEDY EVON D FL 30,679.75 9.900 0.000
800412397 HAMPTON FRED AZ 51,800.00 10.450 0.000
800412470 CARICO JERRY LEE NC 34,850.00 12.150 0.000
800412595 WARREN ROGER E CA 38,285.00 14.300 0.000
</TABLE>
<PAGE>
<TABLE>
Page 14 of 34
A L L I A N C E F U N D I N G
A division of Superior Bank FSB
Loans Funded and Available for Sale to 1997-4 as of 12/19/97
<CAPTION>
Orig Current Note
Account Name State Principal Rate Margin
- --------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C>
800413080 EMERSON RAYMOND E MA 40,000.00 13.950 0.000
800413114 MONTROY JAMES P MI 31,300.00 11.875 0.000
800413130 HOUGHTON ROBERT J MI 29,300.00 10.125 0.000
800413304 SZIPOCS WILLIAM S PA 81,200.00 11.100 0.000
800413841 BOLTON ARNETTA KAYE CA 59,500.00 10.125 0.000
800413858 BILTON JERRY L MI 24,800.00 9.000 0.000
800413874 MITCHELL NATHANIEL V PA 14,200.00 11.300 0.000
800413890 DEVEREAUX CINDY A MI 55,200.00 9.000 0.000
800414229 VANDENBERG CHERYL LYNN AZ 19,242.95 12.250 0.000
800415101 ROBLES RICARDO NJ 21,400.00 12.500 0.000
800415358 CHRISTIAN DAVID CARTER MD 37,400.00 11.550 0.000
800415390 ZINDER VALENTIN PA 23,000.00 12.750 0.000
800415887 MASON ROBERT A MI 18,200.00 10.875 0.000
800415937 COLEY SHARON R GA 27,220.82 9.650 0.000
800416059 SOAVE MARK C MI 18,600.00 10.875 0.000
800416083 GREENE GLEAVE UT 21,000.00 10.300 0.000
800416521 BRAVO LOIRA NY 80,000.00 11.375 0.000
800416661 JOCK LINDA A FL 34,938.10 12.700 0.000
800416703 TETI DONALD R NV 19,060.00 12.000 0.000
800417156 GREEN DAVID H PA 56,000.00 12.000 0.000
800417263 NOYES JEROME G FL 21,600.60 11.950 0.000
800417339 HENDRICKS BRYAN W OR 21,200.00 11.000 0.000
800418311 DYKSTRA JUDY L MI 51,762.00 10.875 0.000
800418337 MCFARLAN WILLIAM A MI 52,600.00 11.625 0.000
800419293 THOMAS MARK K UT 32,374.00 13.200 0.000
800419558 JESSUP MARK CA 68,500.00 11.500 0.000
800419772 BROWN RICHARD FL 54,000.00 12.300 0.000
800419939 DILTS IVALEE WEE CO 38,000.00 9.800 0.000
800420465 CHADWICK WAYNE UT 62,700.00 12.600 0.000
800421364 GODINA LUIS GA 22,100.00 11.050 0.000
800421729 CARROLL DIANE NY 480,000.00 12.500 0.000
800421869 PSAROS DIMITRIOS NY 28,600.00 11.300 0.000
800422172 WHYTE HOPE S MA 127,200.00 9.650 0.000
800422396 ROBBINS RODNEY K MI 34,900.00 11.875 0.000
800422610 RIVERA RAFAEL G FL 21,500.00 10.050 0.000
800422883 GARVIN PETER C WA 34,710.00 11.550 0.000
800423139 KINDLE KENNETH J UT 61,300.00 12.350 0.000
800423311 STEWART DEBORAH M CO 19,000.00 12.400 0.000
800423576 WELCH BRUCE S NY 30,000.00 12.500 0.000
800424467 MCDERMITT BRIAN A PA 14,900.00 12.150 0.000
800424756 RICHARDSON MARK D UT 30,737.00 11.300 0.000
800424947 SMITH ISILDA NJ 115,428.29 10.850 0.000
800424954 HOYER HELLE R FL 48,000.00 9.990 0.000
800424962 TORRES NORMA S MA 60,079.74 10.550 0.000
800425092 CORRIS RAYMOND J WA 11,493.00 12.025 0.000
800425217 BAIER FRANK D CO 21,000.00 12.650 0.000
800425415 BARR JOSEPH MI 46,500.00 9.550 0.000
800426215 LEO CATHERINE L CT 83,000.00 10.900 0.000
800426421 COLDREN JOHN P PA 96,000.00 9.000 0.000
800426660 LINDAHL TIMOTHY TODD CA 42,692.00 11.625 0.000
800426702 TU HIEU TRUNG NY 192,000.00 11.990 0.000
800427270 MACINNIS PAUL J MA 67,500.00 12.350 0.000
800427403 SANCHOTENA ALBERT ANDREW ID 25,098.41 13.250 0.000
800427411 CALLICOTTE MARVIN R UT 15,578.00 11.550 0.000
800428039 BETZ SCOTT ANTHONY WA 50,000.00 11.000 0.000
800428450 BYRD JAMES BRIAN NC 32,500.00 11.550 0.000
800428476 PECORARO JARRAD J FL 17,600.00 10.300 0.000
800428724 MCREE GARY L CO 28,000.00 12.200 0.000
800429029 CONTE JOHN C JR WA 80,000.00 12.600 0.000
</TABLE>
<PAGE>
<TABLE>
Page 15 of 34
A L L I A N C E F U N D I N G
A division of Superior Bank FSB
Loans Funded and Available for Sale to 1997-4 as of 12/19/97
<CAPTION>
Orig Current Note
Account Name State Principal Rate Margin
- --------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C>
800429110 LELAND SALLY A CA 76,600.00 12.375 0.000
800429235 GABRIEL LARRY P CA 28,200.00 11.875 0.000
800429268 GREENE THERESA NY 126,000.00 10.375 0.000
800429300 HOOD PANZARINA DENISE NY 159,682.32 10.950 0.000
800429318 PULIDO ALFONSO FELIPE CA 190,700.00 12.500 0.000
800430258 RAY MARK FL 18,209.31 11.500 0.000
800430365 BISHOP BRIAN SC 27,450.00 11.900 0.000
800431140 MCCLINTIC ALBERT FL 47,963.00 11.990 0.000
800431546 GIOVANOGLOU GEORGE FL 225,250.00 9.750 0.000
800431702 CARRASCO MARIA I RI 45,500.00 10.150 0.000
800431710 O'HARA THOMAS J NY 380,000.00 10.600 0.000
800432064 PATSY DENNIS J MN 22,400.00 13.500 0.000
800432502 BUA FRANK NY 30,000.00 11.650 0.000
800433724 TRUSCOTT LEO PAUL UT 21,890.00 11.300 0.000
800434698 L0SAPIO GARY C GA 28,950.00 11.750 0.000
800434946 BONNETT PETER J MI 12,900.00 11.725 0.000
800434953 WEBB TROY L FL 23,500.00 11.500 0.000
800435083 LIBERMAN CLARA FL 34,750.00 12.000 0.000
800435240 SIMONS ROBERT CO 63,300.00 12.600 0.000
800435661 LEE JAMES FL 61,115.96 10.400 0.000
800435901 DEGN PETER S UT 48,220.06 14.300 0.000
800436008 SIMMONS CURT A UT 31,763.12 11.950 0.000
800436412 ROBERTS JUDITH A CO 12,900.00 12.050 0.000
800436438 SCHARDT HELEN ELIZABETH MD 43,000.00 9.800 0.000
800436727 FERRIGNO THOMAS J CT 54,000.00 10.800 0.000
800436883 RONDOS EVRIADIS NY 220,000.00 10.600 0.000
800437394 POTTER CODY MARK UT 13,050.00 12.350 0.000
800437402 MILLER TIMOTHY W MI 61,300.00 12.000 0.000
800437436 FAIRFIELD CINDY S. MI 70,700.00 9.000 0.000
800437535 CURTIS GORDON W MI 48,800.00 9.500 0.000
800438269 HINDMAN DAVID T CO 24,872.21 12.200 0.000
800438384 SLADE MARY MI 19,608.00 11.250 0.000
800438483 DIBIASI JOSEPH F FL 102,000.00 11.100 0.000
800438582 CASABIANCA CHARLES T NY 28,000.00 9.990 0.000
800438590 DESTOPPELAIR RAYMOND M FL 30,000.00 11.050 0.000
800438673 DAGOSTINO JOANN NY 69,875.07 10.750 0.000
800438723 BARLOW GARTH RIRIE UT 31,000.00 9.400 0.000
800438871 RUTHERFORD JASON NV 24,400.00 12.000 0.000
800438954 CALLAU JOSE WA 30,200.00 12.250 0.000
800438962 MILOT DAVID A WA 134,500.00 9.550 0.000
800439101 HUGHES JOHN D UT 65,000.00 13.650 0.000
800439846 SINGLETARY ROBERT FL 12,468.00 13.750 0.000
800439903 SWIATEK ALEKSANDER J NJ 140,000.00 11.200 0.000
800440075 VASTARE GOPALAKRIS K NY 394,192.17 9.400 0.000
800440596 BERKELEY LOY M II UT 23,000.00 11.300 0.000
800441081 MERCER RONALD W WA 36,500.00 12.250 0.000
800441271 MCDANNELL CHRISTOPHE R UT 31,000.00 12.000 0.000
800441313 HERRIN ROGER SHAINE UT 49,570.00 11.750 0.000
800441768 RABEL GERALD A JR NJ 17,927.85 12.550 0.000
800442147 DOUGLAS GEORGE FL 11,500.00 11.550 0.000
800442162 SEARS SANDRA O MI 52,300.00 12.250 0.000
800442352 DUBRO STEPHEN H CT 24,700.00 12.500 0.000
800442451 KRATE SETH H CT 15,500.00 12.350 0.000
800442667 MAES RICHARD LEO CO 25,000.00 10.050 0.000
800442725 JONES TONY J CT 17,900.00 12.950 0.000
800442931 JEAN-JOSEPH FRANTZ CT 47,000.00 10.500 0.000
800443137 BULLOCK RICHARD L UT 43,836.00 12.100 0.000
800443343 SPATAFORE ROBERT J CA 46,800.00 12.200 0.000
800443517 SMITH KENNETH D KS 24,150.00 11.300 0.000
</TABLE>
<PAGE>
<TABLE>
Page 16 of 34
A L L I A N C E F U N D I N G
A division of Superior Bank FSB
Loans Funded and Available for Sale to 1997-4 as of 12/19/97
<CAPTION>
Orig Current Note
Account Name State Principal Rate Margin
- --------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C>
800443814 BROTZMAN DOROTHY PA 36,725.00 12.100 0.000
800444317 OWENS JAMES J PA 24,350.00 12.000 0.000
800444762 ALSIEUX JOSEPH F NJ 17,942.79 11.700 0.000
800445082 GREENE LINDA M VA 79,456.30 12.400 0.000
800445868 WIESE JANET A AZ 15,000.00 11.850 0.000
800445926 OZZELLO ROBERT J NY 81,000.00 11.650 0.000
800446718 NEWMAN DENISE M CO 63,000.00 12.000 0.000
800446940 STINSON LEONARD GA 37,500.00 8.400 0.000
800447062 SAEGERS MARIO J KS 14,000.00 10.050 0.000
800447146 HALVERSON STEVEN D WA 63,954.00 12.225 0.000
800447245 MYERS ALEX TX 10,487.35 11.800 0.000
800447260 COPPOLA MARK S CT 55,500.00 11.650 0.000
800447385 KELLUM MARTHA D FL 70,000.00 10.250 0.000
800447617 GARZA JUAN UT 13,939.00 12.600 0.000
800447930 BOTERO CHARLES ALBERT FL 28,522.00 11.300 0.000
800448078 MERCER SELBY R FL 31,200.00 10.250 0.000
800448425 LOUCY MICHAEL H. NY 35,000.00 11.050 0.000
800448706 KILDUFF TIMOTHY L UT 26,965.00 12.400 0.000
800449142 CLAPSADDLE JAMES K FL 16,000.00 12.750 0.000
800450124 CLUKEY PAULINE H CT 19,850.00 13.500 0.000
800450306 ARMSTRONG GLADE W UT 22,096.70 12.200 0.000
800450868 RICHARD TODD WA 30,443.02 11.300 0.000
800451106 BURDETTE KELLY UT 54,980.03 14.300 0.000
800452039 BUTYA GEORGE PA 80,000.00 11.000 0.000
800452138 LEE RONALD GA 69,500.00 11.100 0.000
800452476 WHITELEY SUE A CO 34,000.00 11.750 0.000
800452849 MALETICH ANNA M WA 25,500.00 13.250 0.000
800452864 CHRISTILAW JERRY G. FL 18,600.00 11.650 0.000
800453128 FARRAR JOHN W CO 57,191.48 11.350 0.000
800453805 SEELEY DAVID WAYNE OR 39,400.00 10.900 0.000
800453946 ASCHENBERG JAY CA 39,725.00 10.750 0.000
800453995 DUFF LLOYD A NV 48,000.00 11.650 0.000
800454423 CRAMER CHRISTOPHE N FL 29,000.00 11.750 0.000
800454761 DAVIS WILLIS P MD 32,000.00 12.500 0.000
800454852 RUSSO PATRICK A CT 21,000.00 11.550 0.000
800455578 ZIDEK JOHN J UT 81,816.64 11.625 0.000
800455669 STROMAN TERRY A CO 17,000.00 11.400 0.000
800455685 ANTOSH LOUISE PA 33,500.00 8.400 0.000
800455826 GIOVANOGLOU GEORGE FL 256,000.00 9.750 0.000
800456451 ENGLE C H FL 15,300.00 11.750 0.000
800457111 DIAL FORREST L CA 70,300.00 11.250 0.000
800457178 RITCHISON DENNIS E CA 30,000.00 10.400 0.000
800457285 TURPIN RAY JR NV 35,300.00 13.000 0.000
800457301 LUNA MARIO WA 14,940.66 11.250 0.000
800457434 NORDAN FRED NC 22,500.00 12.200 0.000
800457657 ADAMS JACK NC 48,639.02 10.400 0.000
800457764 URENA KATHIE A NY 34,734.11 10.800 0.000
800457855 BEARD LARRY D FL 22,000.00 11.550 0.000
800457921 VISPI LARRY M PA 28,347.00 12.250 0.000
800458192 BUBLIK LADISLAV UT 13,000.00 11.750 0.000
800458226 TURNER W KERMIT FL 28,795.00 9.800 0.000
800458317 ASHBY LARRY S FL 12,000.00 12.990 0.000
800458937 GOODRICH KATHLEEN F FL 67,942.12 9.650 0.000
800459026 COSTANTINI LAURA D FL 17,200.00 13.000 0.000
800459349 HARRISON SHIRLEY LOUISE NC 49,500.00 12.000 0.000
800459638 JONES TREVOR W GA 98,500.00 11.300 0.000
800459679 DURRETTE CHRIS B SC 26,400.00 10.650 0.000
800459760 BERGQUIST DAVID C WA 91,817.00 12.000 0.000
800460065 COOK RICHARD H UT 28,021.00 11.300 0.000
</TABLE>
<PAGE>
<TABLE>
Page 17 of 34
A L L I A N C E F U N D I N G
A division of Superior Bank FSB
Loans Funded and Available for Sale to 1997-4 as of 12/19/97
<CAPTION>
Orig Current Note
Account Name State Principal Rate Margin
- --------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C>
800460099 LATHROP JOHN R III FL 14,848.00 13.750 0.000
800460156 ADKISON RANDALL J FL 10,026.00 11.500 0.000
800460461 EDMONDS ELIZABETH ANN VA 24,700.00 12.350 0.000
800460503 RICHARDSON CLAIRE L CO 22,750.00 11.750 0.000
800460974 HAAS DANIEL J PA 28,100.00 10.990 0.000
800461865 MAY MICHAEL GA 14,300.00 13.125 0.000
800461923 KELLER JAMES RICHARD FL 19,905.68 9.500 0.000
800462038 SCHLABACH IVAN FL 56,250.00 11.125 0.000
800462319 MARKLEY DHYANA CO 65,768.16 14.250 0.000
800462376 HARMAN ELISABETH UT 78,342.11 10.300 0.000
800462400 BERGER LESLEY DIANE CA 57,982.53 10.550 0.000
800462442 PICKREM SEAN GRAHAM FL 19,000.00 9.800 0.000
800462814 RAGLAND MOSES GA 18,620.00 11.125 0.000
800462897 ZFATMAN CHAIM E NY 70,000.00 11.550 0.000
800463226 KOLINCHAK THOMAS O PA 50,000.00 11.050 0.000
800463325 BUCKLEY WANDA M PA 26,800.00 12.750 0.000
800463689 FASCIO LYNN A RI 68,000.00 12.350 0.000
800464174 TEJADA JAIME NY 50,000.00 10.400 0.000
800464315 WOODRUFF MARK K UT 70,000.00 12.600 0.000
800464596 TOROK SANDRA LEE CO 17,500.00 11.750 0.000
800464729 JOHNSON MICHAEL W OR 57,250.00 10.050 0.000
800465056 LANGER JOHN F WA 28,800.00 11.625 0.000
800465841 TAYLOR DONALD J NC 39,750.00 12.650 0.000
800465916 BURROWS JESSIE JR MD 14,750.00 12.750 0.000
800466153 LANGSAM LISA E MA 25,846.00 10.375 0.000
800466195 PETERS HARRY ROGER CA 131,200.00 10.525 0.000
800466377 DANKS JOANNE M NY 63,780.00 10.650 0.000
800466716 GOULART CARL W CT 38,570.00 13.750 0.000
800467524 SACOULAS GREGORY J FL 34,900.00 12.000 0.000
800467615 STEWART MARVIN R NY 21,750.00 13.050 0.000
800467714 HALLER DOUGLAS CO 14,000.00 13.750 0.000
800467722 HARKEN GARY J CO 43,844.42 12.250 0.000
800467987 TERRADAS PILAR C FL 22,000.00 11.500 0.000
800468118 ESPER RODNEY E III FL 12,115.00 12.490 0.000
800468670 BROWN JACOB ALLEN NC 15,000.00 14.150 0.000
800468910 OSTROWSKI IAN CO 55,000.00 12.500 0.000
800469116 HAUVER RICHARD E KS 60,877.00 11.300 0.000
800469694 ALRED ROBERT D FL 49,900.00 8.250 0.000
800469793 PARKIN CORY JAMES UT 21,200.00 11.450 0.000
800469843 SCOLLON JOHN CO 48,743.00 11.500 0.000
800470106 SCONZO ANTHONY THOMAS WA 29,769.57 11.900 0.000
800470221 MARKEZINIS MICHAEL J WA 32,500.00 12.250 0.000
800470510 LEWIS SAMMIE LEE NC 41,000.00 9.550 0.000
800470783 TRAYWICK GLEN NY 57,000.00 12.500 0.000
800470890 HIGBY JOHN FL 24,000.00 9.900 0.000
800470981 GARDNER GARY W UT 76,300.00 11.750 0.000
800471005 COPPOCK RONALD K FL 12,000.00 10.990 0.000
800471567 WILSON KIMBER ANDY UT 18,077.06 11.500 0.000
800471708 ODUM MELISSA M FL 27,210.75 10.650 0.000
800471880 SHADBOLT DARLENE A CO 20,227.00 11.500 0.000
800472664 VENTURA-DAVI EARLEAN NV 35,000.00 11.000 0.000
800472755 BRIEFMAN KAREN FL 70,400.00 12.500 0.000
800473068 CHEN CHI-MIN PA 31,645.00 12.000 0.000
800473142 ADLER KEITH GA 238,500.00 11.500 0.000
800473480 WAGNER ORVILLE PA 16,000.00 10.300 0.000
800473522 MONACO GENE R FL 61,500.00 11.500 0.000
800473746 PERNICKA MARGARET M AZ 56,000.00 10.500 0.000
800474058 AVERETT KEN D UT 53,759.00 12.600 0.000
800474082 FLORENCE GARY R. FL 52,200.00 10.000 0.000
</TABLE>
<PAGE>
<TABLE>
Page 18 of 34
A L L I A N C E F U N D I N G
A division of Superior Bank FSB
Loans Funded and Available for Sale to 1997-4 as of 12/19/97
<CAPTION>
Orig Current Note
Account Name State Principal Rate Margin
- --------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C>
800474124 SNYDER DWAYNE K FL 45,000.00 9.900 0.000
800474744 CARRINGTON THELMA L MD 68,000.00 12.000 0.000
800475204 KAMPOURIS DEBRA FL 12,000.00 10.450 0.000
800475741 WILLIAMS ANNIE D FL 44,625.00 10.550 0.000
800476210 HARRISON JANET S FL 19,593.00 11.300 0.000
800476434 FLOR DALE A PA 21,300.00 10.900 0.000
800476566 DOUGLASS KATHERINE M CO 40,000.00 11.000 0.000
800476632 STEIGER PATRICIA A NY 80,000.00 9.050 0.000
800477234 CASSIBBA GIUSSEPPE UT 60,000.00 12.150 0.000
800477960 DEUERLEIN SCOTT E FL 24,000.00 9.900 0.000
800478174 PETERSON MONTE K UT 110,000.00 11.650 0.000
800478729 TIBBETTS RICHARD P FL 11,790.00 10.800 0.000
800479180 ALLEN FRANCES J FL 42,000.00 10.750 0.000
800479255 SCHMITT DAVID J FL 22,871.00 10.150 0.000
800479537 MCNAMARA LOUIS R MN 16,800.00 10.800 0.000
800480055 MCDONALD TAKIMA NY 131,250.00 9.550 0.000
800480394 SNYDER STEPHEN C FL 16,250.00 11.750 0.000
800480568 BRADLEY ERNESTINE GA 23,000.00 12.250 0.000
800480667 ROWLAND WILLIAM D RI 76,500.00 10.400 0.000
800480816 WILLIAMS ANDREW G UT 70,000.00 12.700 0.000
800481137 CUARTAS EFRAIN FL 32,109.20 12.500 0.000
800481475 MCCAULEY DAVID L FL 12,800.00 10.800 0.000
800481624 CRAIG JOHN C CO 90,551.00 10.250 0.000
800481657 LIDDELL EMILY L UT 9,500.00 10.650 0.000
800481913 LILLY PHILIP L CO 27,000.00 10.000 0.000
800482366 STREIN WILLIAM J PA 39,674.00 12.250 0.000
800482382 LIBSON CARL H CA 90,000.00 11.300 0.000
800482739 JONES WILLIAM R FL 20,100.00 11.250 0.000
800483034 WEST FREDERICA L NY 122,500.00 11.250 0.000
800483786 EBNER ROBERT N PA 16,450.00 11.300 0.000
800484198 VANDERYACHT JOANN M WA 11,400.00 10.900 0.000
800484420 AZIMA ALI A FL 17,000.00 9.400 0.000
800484461 MATYAS ALEX FL 16,600.00 11.400 0.000
800484925 BAKER WILLIAM H FL 90,000.00 11.400 0.000
800485161 TRUJILLO MARGARET M CO 36,970.00 11.750 0.000
800485625 MEINSTER LAWRENCE R FL 20,900.00 10.550 0.000
800485989 WRIGHT JEAN SC 73,525.00 12.500 0.000
800486235 UMBRAS SUSAN FL 30,000.00 9.150 0.000
800486482 DAVIS CARL N GA 433,500.00 11.250 0.000
800486714 KLOEPPEL GARY A MO 34,482.00 10.900 0.000
800487779 COTTER CHARLES AZ 111,300.00 9.450 0.000
800487993 HOULE WANDA L CO 15,541.63 11.750 0.000
800489064 SHEPARD PATRICK FL 36,000.00 11.800 0.000
800489197 LYNCH GORDON E WA 18,000.00 12.500 0.000
800490401 HARPER DONALD NY 84,500.00 11.050 0.000
800490450 KENLEY MICHAEL W CO 24,000.00 11.500 0.000
800491656 HERNANDEZ CATHERINE D FL 10,000.00 9.650 0.000
800492118 SCHAEFER CHRISTOPHE M CT 20,000.00 10.150 0.000
800492167 ARMOND ROBIN NY 142,800.00 11.400 0.000
800492779 WILLEY CHERYL D FL 27,400.00 10.250 0.000
800493314 SWIFT TERRANCE D ID 13,750.00 11.800 0.000
800494015 CARMICHAEL M BECKY SUE GA 23,000.00 13.500 0.000
800497273 LICHINCHI ANNAMAY C. NY 292,500.00 10.250 0.000
800497562 WELLER TANNA L AZ 19,241.00 9.900 0.000
800497844 HELSLEY RONALD P UT 66,500.00 11.000 0.000
800498420 HOUCK LINDALEE M MA 44,500.00 11.725 0.000
800498537 HUDSON ROBIN R OR 22,800.00 14.225 0.000
800498578 BERGSTROM MARK S MA 41,960.00 12.100 0.000
800501157 BAYLESS BRUCE W CO 21,142.00 11.500 0.000
</TABLE>
<PAGE>
<TABLE>
Page 19 of 34
A L L I A N C E F U N D I N G
A division of Superior Bank FSB
Loans Funded and Available for Sale to 1997-4 as of 12/19/97
<CAPTION>
Orig Current Note
Account Name State Principal Rate Margin
- --------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C>
800502569 TUFARO PASQUALE NY 220,500.00 10.150 0.000
800503690 CARVER ALTON FL 29,750.00 12.000 0.000
800504920 ROSENFELD RICHARD NY 440,000.00 8.650 0.000
800506818 RISKEY LARRY S OR 55,700.00 12.475 0.000
800506842 SUTTLES VERONICA FL 21,150.00 11.250 0.000
5000000066 TOOKER DAVID B FL 46,700.00 9.320 0.000
5000000314 WILLIAMS EARNEST GA 52,000.00 11.130 0.000
5100000016 GIBSON JAMES E CA 24,100.00 10.625 0.000
5100000024 HOLZWORTH GERVAS E CA 43,800.00 11.740 0.000
5100000032 BEUGLI RICHARD R OR 39,562.00 12.625 0.000
5100000040 BODNAR JOSEPH WA 103,600.00 9.195 0.000
5100000107 BROMEL MARY C WA 24,900.00 12.025 0.000
5100000230 CLARK STANLEY R OR 65,300.00 13.625 0.000
5100000446 KEEP MARLIN TORY ID 46,600.00 12.350 0.000
5100000511 SHUTTLESWORT DUANE E WA 140,000.00 11.375 0.000
5100000537 HAYDEN CARROLL M WA 20,500.00 10.775 0.000
5100000578 MILES TERRY L OR 39,800.00 13.375 0.000
5100000586 CERASIN JANICE M OR 69,800.00 9.000 0.000
5100000610 TREIBER THEODORE C WA 22,041.00 12.250 0.000
5100000800 WRIGHT SUSAN KAY OR 69,100.00 10.125 0.000
5100001055 COURTWAY JERRY E WA 55,700.00 12.240 0.000
5100001337 NGUYEN LARRY T WA 72,200.00 11.695 0.000
5100001410 KETCHAM SAMUEL D OR 49,700.00 13.140 0.000
5100001485 GOWDY WILLIAM L WA 70,825.00 9.320 0.000
5100001535 REESE MICHELLE WA 94,200.00 9.945 0.000
5100001568 SHERON DOUGLAS PAUL OR 117,700.00 9.000 0.000
5100001576 VARNER STEPHEN L WA 26,708.96 11.625 0.000
5100001592 TEETERS CRAIG A OR 29,500.00 12.375 0.000
5100001782 MARSHALL DONALD H WA 49,600.00 11.125 0.000
5100001832 MEDLEY GARY K WA 102,133.00 9.320 0.000
5100001865 FLEMING COLLEEN M OR 20,500.00 12.990 0.000
5100001923 GARRISON MILLER A OR 271,987.00 10.775 0.000
5100001980 PIERCE RICHARD JAMES WA 39,000.00 12.875 0.000
5100002004 VICKERS JOHN WA 27,844.00 12.250 0.000
5100002103 WATTS MURIEL E WA 103,300.00 12.900 0.000
5100002202 STAMP CHARLES ALLEN WA 61,874.00 10.750 0.000
5100002251 HOWATT LYNSEY R OR 51,700.00 10.775 0.000
5100002277 FORD ROCK L OR 33,000.00 12.240 0.000
5100002392 CORAM JUDITH WA 63,000.00 10.625 0.000
5100002426 CARMICHAEL MARK E OR 24,800.00 11.875 0.000
5100002509 HELLBUSCH NORMAN P OR 53,600.00 12.625 0.000
5100002541 MOTTAGHI SHAHRIAR OR 56,000.00 12.500 0.000
5100002616 PETERSEN ERICK L WA 46,102.00 12.875 0.000
5100002673 JASMIN GREGORY P FL 54,400.00 9.000 0.000
5100002715 POTTERF TIM WA 29,000.00 12.625 0.000
5100002756 ELLISON DENNIS E WA 51,688.49 10.525 0.000
5100002814 STEWART TERRI L OR 52,200.00 13.125 0.000
5100002855 BRADFORD GREGG LYNN WA 27,500.00 12.500 0.000
5100002947 RIVERA CATHERINE ANNE FL 27,659.00 11.875 0.000
5100002954 REDDING KEITH L WA 21,500.00 10.875 0.000
5100002996 ABELEIN DOUGLAS R OR 23,000.00 11.275 0.000
5100003002 FANKHAUSER JAY V WA 27,415.00 12.875 0.000
5100003010 VOGT GLEN C OR 17,500.00 12.500 0.000
5100003044 WESSELS STARLA J WA 25,626.00 11.775 0.000
5100003077 OLSON CINDY T WA 27,785.00 13.000 0.000
5100003093 COWELL RAYFORD G OR 44,600.00 11.625 0.000
5100003218 SMITH DOUGLAS J WA 64,399.00 13.250 0.000
5100003515 HOWLAND BRUCE A OR 61,000.00 9.445 0.000
5100003523 HOWLAND BRUCE OR 10,300.00 11.625 0.000
</TABLE>
<PAGE>
<TABLE>
Page 20 of 34
A L L I A N C E F U N D I N G
A division of Superior Bank FSB
Loans Funded and Available for Sale to 1997-4 as of 12/19/97
<CAPTION>
Orig Current Note
Account Name State Principal Rate Margin
- --------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C>
5100003531 INGERSOLL STEVEN M WA 106,000.00 9.445 0.000
5100003556 SILVA DAVID A WA 42,500.00 9.000 0.000
5100003598 HORTSMAN JERRY L CA 77,000.00 11.275 0.000
5100003606 BEAN ERNEST W OR 19,200.00 11.125 0.000
5100003622 WALKER JIMMY O OR 22,400.00 11.625 0.000
5100003630 FORD ROY A WA 33,500.00 10.525 0.000
5100003648 SISLER DANIEL L OR 17,900.00 9.125 0.000
5100003655 WILSON JOHN B FL 19,000.00 11.975 0.000
5100003671 RAMSDELL GARY M OR 83,999.00 10.125 0.000
5100003697 MORIN DANIEL S WA 20,391.73 10.625 0.000
5100003705 LANDERMAN DAVID N WA 29,565.00 11.775 0.000
5100003713 WINGATE JIMMY LEE ID 21,410.00 10.775 0.000
5100003721 WAYMIRE TERRY E OR 96,400.00 9.125 0.000
5100003739 CUNNINGHAM JERRY D OR 26,721.04 11.740 0.000
5100003747 CAMPBELL MICHAEL J WA 97,241.00 9.000 0.000
5100003754 DODDS JOEL WA 38,400.00 12.600 0.000
5100003770 TILLMAN JERRY H FL 29,500.00 11.975 0.000
5100003788 KLEPPER DANA M WA 13,995.00 13.750 0.000
5100003796 RYAN THOMAS E WA 9,065.00 13.125 0.000
5100003820 RANDALL PAUL LJ WA 25,700.00 14.350 0.000
5100003838 BRATENG TERRY L OR 35,200.00 10.775 0.000
5100003861 ATLANSKY JERRY M CA 44,486.00 12.225 0.000
5100003887 RABENBERG JACK R OR 34,400.00 12.125 0.000
5100003903 LAMACCHIO JAMES OR 106,400.00 9.670 0.000
5100003937 LIANG KAR SHENG OR 36,600.00 13.225 0.000
5100003945 VALENZUELA DAVID F CA 29,600.00 10.525 0.000
5100003952 WOODBURY GORDON A OR 24,100.00 12.000 0.000
5100003960 MCBETH ALFORD DARREL OR 20,300.00 11.725 0.000
5100003986 MADSON WALTER J WA 273,100.00 12.375 0.000
5100003994 BRANSON LARRY DAVID CA 26,600.00 11.975 0.000
5100004026 ROACHE SANDRA OR 70,300.00 11.125 0.000
5100004034 FIELD-FOGG JOANN CA 35,200.00 11.125 0.000
5100004042 FINIFROCK DAVID E WA 52,095.00 11.775 0.000
5100004067 NAKAYAMA PAULA M ID 51,000.00 11.125 0.000
5100004075 MARQUIT TIMOTHY CA 67,200.00 10.625 0.000
5100004083 LAVIOLETTE BECKE-ANN WA 27,700.00 12.625 0.000
5100004091 KABZA CRYSTAL D OR 18,500.00 10.775 0.000
5100004109 GARRECHT NANCY D WA 22,601.00 11.775 0.000
5100004133 SARGENT BILL OR 14,300.00 12.250 0.000
5100004141 RODGERS PAUL D ID 14,100.00 12.640 0.000
5100004158 HANLON EDWARD A JR MA 28,472.35 12.725 0.000
5100004166 NEWMAN MAUREEN CATHERINE WA 40,200.00 12.500 0.000
5100004182 SCHORLEMER SUSAN E WA 55,700.00 12.225 0.000
5100004190 DOLPHUS DOUGLAS CARLIN ID 59,953.00 12.375 0.000
5100004208 CLEMENTS BROOKS PAUL JR ID 71,500.00 9.445 0.000
5100004224 HARRISON DUANE R OR 70,799.00 9.695 0.000
5100004257 HARRISON EDWARD H CA 49,500.00 10.625 0.000
5100004265 DAVIS MERLIN R ID 63,900.00 9.670 0.000
5100004281 WALKER CYNTHIA A WA 19,400.00 12.375 0.000
5100004299 LEDESMA GILBERTO WA 58,100.00 12.175 0.000
5100004307 RING JOHN R ID 21,500.00 11.625 0.000
5100004323 ORGILL PETE E WA 36,600.00 11.625 0.000
5100004331 OSHAUGHNESSY MICHAEL J WA 88,200.00 11.025 0.000
5100004356 ALLEN PARKS C WA 125,200.00 10.840 0.000
5100004372 BURBANK DAVID W MA 30,300.00 12.125 0.000
5100004380 ROSTOLLAN JOHN WA 79,500.00 13.295 0.000
5100004398 HONGELL RONALD V WA 108,500.00 10.875 0.000
5100004406 DAVIS JEANNE M WA 56,100.00 13.475 0.000
5100004497 VIRGIL ALAN K CA 113,300.00 12.525 0.000
</TABLE>
<PAGE>
<TABLE>
Page 21 of 34
A L L I A N C E F U N D I N G
A division of Superior Bank FSB
Loans Funded and Available for Sale to 1997-4 as of 12/19/97
<CAPTION>
Orig Current Note
Account Name State Principal Rate Margin
- --------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C>
5100004521 PAAR KENNETH JAMES CA 72,300.00 12.975 0.000
5100004547 KELLY KEVIN M WA 61,900.00 8.375 0.000
5100004562 FLYNN ELVIN L CA 71,000.00 12.350 0.000
5100004570 DRISKILL GEORGE G CA 19,200.00 14.225 0.000
5100004646 DA SILVA MARTINHO CT 54,800.00 11.000 0.000
5100004661 MENOT ROBERT MA 48,700.00 10.625 0.000
5100004711 NAKONECHNY JADZIA TEOFILA WA 148,700.00 11.875 0.000
5100004877 JENNEJOHN HENRY P WA 65,600.00 9.775 0.000
5100004901 HARTLOVE SUSAN ARLINDA CA 28,700.00 11.875 0.000
5100004935 GILMARTIN CHRISTOPHE MA 29,400.00 12.100 0.000
5100005007 MONELLI RICHARD D CA 55,700.00 12.125 0.000
5100005056 DRURY RAYMOND L MA 144,800.00 9.295 0.000
5300000006 KINDER LINDA J CA 15,396.00 10.875 0.000
5300000030 CLARK CHARLES W JR CA 50,591.00 12.625 0.000
5300000055 WRIGHT JAMES R CA 56,500.00 11.025 0.000
5300000089 WINSTED CAROL A CA 100,400.00 8.875 0.000
5300000097 DOMINGUEZ BETTY CA 49,400.00 9.125 0.000
5300000139 BANKS LESLIE R CA 53,500.00 10.875 0.000
5300000147 FRANKLIN HERBERT CA 70,313.00 10.875 0.000
5300000154 MCLAUGHLIN MARJORIE E CA 288,600.00 11.125 0.000
5300000170 OLSON JOYCE A CA 41,300.00 10.875 0.000
5300000188 WELSH ROBERT A CA 67,800.00 12.640 0.000
5300000196 WOLFE GARY K CA 51,200.00 12.625 0.000
5300000204 HOLMES GILLIAN SUE CA 17,168.00 12.625 0.000
5300000246 BAUTISTA ROSA M CA 20,900.00 12.625 0.000
5300000279 KOLESZAR CHARLES E CA 47,800.00 8.750 0.000
5300000337 LIVAUDAIS THOMAS H CA 29,000.00 11.625 0.000
5300000345 CANN-WOODE ROBERT E CA 67,400.00 11.275 0.000
5300000352 COVERT ANTHONY J CA 56,500.00 10.525 0.000
5300000394 GUARDINO ROBERT ANTHONY CA 200,800.00 12.125 0.000
------------------------------------------------------------------------------------------------
Loans in Servicing not yet tagged for sale 795 43,414,779.18
106156276 GARGALIATSIS PETER NY 72,000.00 11.580 0.000
106156278 RIPATTI PERTTI NY 40,000.00 11.625 0.000
106156344 PULIAFICO ANTHONY NY 11,000.00 10.300 0.000
106157323 BOVELL GOLA S NY 74,300.00 11.780 0.000
106160503 DURKOS SUSAN L. IN 14,800.00 12.000 0.000
106160605 RUFFIN JOHNNIE L IL 130,000.00 11.600 0.000
106160824 BONNER-DAVIES RICHARD B. MI 229,500.00 9.550 0.000
106161136 CRAMMER DOUGLAS L PA 31,900.00 14.375 0.000
800202012 BEDNARZYK MICHAEL A MD 18,350.00 13.250 0.000
800337172 MARIA ROGER UT 57,000.00 12.900 0.000
800373391 HERNDON GARY W CO 26,000.00 14.400 0.000
800380479 BARTKOSKI BETTY J NV 34,640.00 12.800 0.000
800382087 NORTH CHARLES Z CA 50,000.00 10.950 0.000
800395006 EGELSTON TRISHA CA 35,500.00 13.300 0.000
800407447 DAY CONSTANCE J FL 35,000.00 10.500 0.000
800413239 BRYANT JR JAMES L OR 29,150.00 12.750 0.000
800417347 PAHOLSKI DARRIN J IN 14,823.00 11.300 0.000
800421471 RUTLEDGE RODNEY W CA 55,900.00 12.600 0.000
800428005 BOSWORTH E LEODA AZ 11,700.00 13.000 0.000
800437113 LAUCK STUART CO 30,000.00 11.250 0.000
800438814 KIM CHANG SUNG NY 235,200.00 10.750 0.000
800440802 MURDAUGH DAVID CA 112,000.00 11.950 0.000
800442634 LANGELLO ANTHONY PA 124,000.00 13.750 0.000
800445678 BELL TARA W NJ 70,000.00 11.900 0.000
800453664 WHITING TARRIS MA 50,150.00 9.800 0.000
800453862 SMITH HAROLD C MN 17,000.00 10.800 0.000
800454001 HOWARD RONALD D MI 141,600.00 11.550 0.000
</TABLE>
<PAGE>
<TABLE>
Page 22 of 34
A L L I A N C E F U N D I N G
A division of Superior Bank FSB
Loans Funded and Available for Sale to 1997-4 as of 12/19/97
<CAPTION>
Orig Current Note
Account Name State Principal Rate Margin
- --------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C>
800456204 WORTHAM ALAN EDWARD UT 18,337.00 15.150 0.000
800457210 BARNES BOB L CA 25,000.00 12.250 0.000
800459208 BEARNSON DARRELL UT 29,400.00 10.450 0.000
800461949 SHAH SURENDRA R CA 39,500.00 12.250 0.000
800462756 FORSYTH CHUCK EDWARD FL 46,200.00 13.250 0.000
800464745 WOMER MARK T NJ 39,200.00 12.350 0.000
800465007 MATTHEWS IRENE NY 100,000.00 11.990 0.000
800467367 SULLIVAN FRANCIS J. FL 51,750.00 14.500 0.000
800468969 PANGER SCOTT M AZ 22,400.00 10.900 0.000
800469835 HARTUNG WILLIAM FL 41,400.00 12.200 0.000
800470205 PETIT-CLERC GUY NM 79,400.00 12.300 0.000
800472458 PARSONS BYRON UT 23,000.00 11.600 0.000
800472797 HERNANDEZ RAMON NJ 100,000.00 10.950 0.000
800472821 HERNANDEZ RAMON NJ 72,000.00 10.950 0.000
800473506 LUBOMIRSKI DOMINIK W AZ 43,000.00 11.750 0.000
800473712 POLSTON BILL SC 32,350.00 12.300 0.000
800473944 DAVIS LEO RUSSELL AZ 24,950.00 11.300 0.000
800479859 QUIROZ-BACA BETTY J CA 50,000.00 11.500 0.000
800483810 WILKERSON LANCE C CO 31,200.00 12.300 0.000
800487951 COTTER CHARLES AZ 113,300.00 9.450 0.000
800489734 CULBERT GALE P WA 116,100.00 11.500 0.000
800493082 OTT RICK H. FL 250,000.00 9.750 0.000
800494973 OTT RICHARD H. FL 22,000.00 10.750 0.000
-----------------------------------------------------------------------------------------------
Loans Funded and not yet in Servicing 50 3,122,000.00
Total Fixed Rate Loans Funded and Available: Sub-Pool II 845 46,536,779.18
Total Fixed Rate Loans Funded and Available: Group 1 1,202 71,770,916.25
</TABLE>
<PAGE>
<TABLE>
Page 23 of 34
A L L I A N C E F U N D I N G
A division of Superior Bank FSB
Loans Funded and Available for Sale to 1997-4 as of 12/19/97
<CAPTION>
Orig Current Note
Account Name State Principal Rate Margin
- --------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C>
SUB-POOL III: ARM LOANS AVAILABLE FOR SALE
- -------------------------------------------
106153910 SPREEMAN STEVE L IL 118,361.25 10.625 7.250
106154341 TRELLA DANIEL IL 55,160.64 12.875 8.300
106154430 ROBISON DIANE IL 203,907.32 9.875 5.550
106155115 SQUIRES TERRY W IN 48,800.00 10.750 6.250
106155254 THARP DAVID W IN 66,000.00 8.875 4.750
106155350 ALBAN JAIME M IL 145,459.94 9.625 5.000
106155842 COHEN ANDREW IL 96,000.00 10.250 7.450
106156075 THORN MARK S MN 38,400.00 12.750 8.000
106156078 BITTLE NORMAN R MI 66,000.00 13.125 8.700
106156079 WILLIAMS NORMAN E MI 87,018.41 9.750 5.400
106156244 ROSE BETTY J MI 42,480.69 9.875 5.550
106156439 LOWERY LYNN C OH 121,400.37 10.375 5.750
106156551 MATTINSON DANIEL R MI 146,800.00 10.500 7.250
106156927 WRIGHT JOANNE OH 68,000.00 11.500 8.000
106157027 RASHO BEHNAM MI 122,368.67 12.500 8.050
106157422 PARKER GERALD IL 117,000.00 10.250 6.800
106157490 LOUKAS PETER J MI 75,000.00 10.000 6.800
106157710 KELVER PATRICIA A IL 64,978.06 11.250 6.500
106157717 DAKOO WADEE MI 52,781.68 11.125 7.500
106157847 SPUDWILLS STEPHEN E IL 121,500.00 10.375 6.250
106157854 STEPNIEWSKI STEVEN J MN 191,200.00 11.125 7.000
106157981 SMITH JERRY MI 53,960.92 7.625 4.250
106158237 ROSENBAUM RICHARD IL 62,979.31 11.375 6.500
106158486 KYLES BETTY IL 65,000.00 8.500 5.450
106158623 SIEBERT KATHLEEN MI 71,200.00 12.875 8.900
106158636 MORROW JAMES IN 56,100.00 11.625 7.000
106158717 MAYNARD RALPH E IN 89,200.00 10.875 6.750
106158940 STULL LINCOLN ALLEN MD 184,430.54 10.750 7.250
106159002 WALLACE ALLEN E JR LA 100,000.00 12.625 8.000
106159045 RAGAN TERESA G AL 65,100.00 12.625 8.000
106159397 HICKS CHARLES E MI 21,000.00 10.500 6.000
106159398 MARGISON LINDA B IN 55,200.00 12.500 8.000
106159435 MURRY STANFORD IL 76,500.00 8.750 5.000
106159494 BAKER RODNEY OH 85,400.00 12.250 6.500
106159548 WARD JAMES IN 92,000.00 12.500 8.000
106159555 STURGILL BRETT C IN 58,400.00 12.500 8.000
106159574 MERCADO RUDY IL 100,200.00 11.625 7.000
106159598 ORELLANA JOSE IL 131,500.00 10.750 6.250
106159725 RITCHIE JAMES R JR MI 87,500.00 10.875 6.750
106159797 MCDONALD CLINT E AR 120,000.00 8.375 5.000
106159827 FETTY ROBBIE J IN 43,200.00 10.125 6.250
106159829 BRECKENRIDGE JOEL IN 48,000.00 9.625 5.000
106160027 GIVENS LEROY IL 43,300.00 10.750 6.250
106160033 LEWIS LINDA OH 49,500.00 10.125 6.250
106160047 BUTLER JOSEPH A JR IL 51,985.12 12.000 7.250
106160060 HESS JENNIFER IN 24,600.00 10.375 5.750
106160283 MCQUISTON THOMAS A IL 110,200.00 9.750 5.750
106160361 DOUGLAS JOSEPH P JR MI 48,000.00 11.875 7.500
106160426 STEVERDING AMY M OH 82,300.00 9.625 6.250
106160452 RODISH JOHN J IL 106,250.00 9.875 6.050
106160484 WAGNER STEVEN M OH 49,300.00 9.375 5.500
106160596 PRESTON JEFFERY A MI 71,200.00 12.500 8.000
106160600 HANCOOK PAUL MI 101,600.00 8.750 5.700
106160770 NAVARRO MICHAEL IL 123,250.00 11.375 8.150
106160838 SHEPARD KEVIN J IN 97,700.00 10.875 6.750
106160861 NEMEH JERRY IL 95,200.00 10.000 6.800
106160999 WILSON ALLIE MAE IL 76,000.00 10.125 6.250
</TABLE>
<PAGE>
<TABLE>
Page 24 of 34
A L L I A N C E F U N D I N G
A division of Superior Bank FSB
Loans Funded and Available for Sale to 1997-4 as of 12/19/97
<CAPTION>
Orig Current Note
Account Name State Principal Rate Margin
- --------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C>
800120396 ARCARO DOREEN NY 93,226.32 11.250 6.875
800259954 CLAYPOOLE JOSEPH H NY 44,782.14 13.625 8.250
800271884 SHEA RICHARD CT 139,891.34 12.500 7.250
800274649 WARD WALTER PA 39,893.78 11.125 6.600
800284945 KONESKY JAMES B UT 119,071.32 11.000 7.625
800290793 PREWITT BARBARA JEAN FL 112,500.00 9.750 5.750
800296063 MCCARTHY THOMAS H NJ 123,127.37 11.375 8.050
800296188 BULICKI CHRISTOPHE M NJ 58,327.85 10.375 7.000
800298010 YOO HYONG JOON NJ 186,514.79 9.375 6.050
800303992 STROUSE JASON L PA 35,985.30 10.375 5.750
800305237 FENG JENNIFER S NJ 194,641.23 9.875 5.550
800305922 DENSON YASHLYN W GA 70,149.71 11.000 6.800
800308892 GOMES PHILLIP G MA 84,542.61 11.250 7.000
800312035 FOLDVARY PAMELA J CT 118,916.44 11.375 6.950
800314395 TEEL BERNARD D NC 160,054.44 11.125 6.800
800315145 WALKER ADDIE PA 19,600.00 10.625 5.750
800321697 RICHBURG MICHELLE A NY 161,424.66 9.750 5.550
800321804 BANKES DAVID PA 51,794.02 11.000 6.500
800323412 KOUMANDARAKI JOHN GA 192,213.67 9.500 6.050
800326951 SMITH TREVOR G NY 179,871.05 11.000 6.800
800330409 GREENAWAY THOMAS NY 143,934.58 9.875 5.750
800330417 GAUDIAN HOWARD E NJ 93,600.00 11.125 7.300
800331225 WARREN JAMES D AZ 95,894.73 9.000 4.800
800331506 BOWMAN HOWARD W PA 51,972.48 12.375 7.500
800335291 LINCOLN HARRIET A NM 34,488.97 11.500 7.150
800336059 KNUDSEN ORVEST L PA 86,852.60 8.875 5.250
800342149 HANNAN JOSEPH J AZ 62,004.31 10.875 6.550
800342933 NORMAND CATHERINE DE 46,760.57 10.250 5.750
800344871 SCHAFFER GLORIA FL 72,195.36 10.750 5.500
800345118 BORNSTEIN MARC H CT 89,883.87 11.000 6.400
800349367 FUSARO GEORGE SR PA 133,025.00 9.875 6.500
800352791 ROMAN CASTULO JR NY 41,600.00 11.625 6.950
800354151 GOODMAN PAMELA G FL 41,600.00 10.375 8.000
800354821 CHANDLER RORI F UT 112,399.72 11.875 7.050
800355422 DONOVAN STEPHEN F NY 78,381.03 12.750 8.550
800356065 SYKES ADDIE ANN TX 47,654.12 9.625 5.250
800357741 DELGADO JULIO A NY 124,775.30 10.500 7.150
800358053 DOYLE DENNIS NJ 130,870.58 9.500 5.100
800358665 FAUBLE MICHAEL A MI 120,645.16 9.875 5.250
800359622 CHESNUT CRAIG UT 114,750.00 9.625 6.050
800359812 CARROLL THOMAS PA 52,700.00 10.000 5.500
800360109 DENNIS KNIBB JAYNE M NY 168,800.00 9.500 5.250
800365892 PUERTAS JOSE D FL 113,299.24 10.000 5.000
800365926 GUASTAMACCHI CATHERINE NY 121,408.11 10.750 6.050
800366692 SHEEHY TOM CT 67,500.00 11.500 7.150
800367062 ESPINOSA LESLY AZ 59,955.84 10.875 6.400
800367211 ALOMAR CARMEN NY 148,444.09 10.750 6.100
800368441 ZAMARRIPA ERASMO WA 72,164.39 8.625 4.250
800373755 DUNCAN BETTY L GA 86,807.28 9.500 5.750
800375818 INGEGNO DONALD FRANK NY 175,446.93 11.750 7.300
800376154 BARR LESLIE G NY 56,000.00 10.500 5.950
800376303 WHEELER MARION G OH 55,500.00 11.625 6.950
800376345 PEPINO RALPH J NJ 188,128.40 9.875 6.500
800377400 GIFIS STEVEN H FL 177,000.00 8.750 5.500
800378820 SWANSON SCOTT C WA 179,022.86 10.125 6.250
800379331 DOWNEY JAMES J NY 100,000.00 11.750 6.900
800382764 ROMERO MANUEL NJ 104,000.00 10.000 6.400
800383986 LARBIE JOSEPH NJ 90,000.00 9.500 6.550
800384216 OTIS SHIRLEY AZ 84,968.85 10.875 6.550
</TABLE>
<PAGE>
<TABLE>
Page 25 of 34
A L L I A N C E F U N D I N G
A division of Superior Bank FSB
Loans Funded and Available for Sale to 1997-4 as of 12/19/97
<CAPTION>
Orig Current Note
Account Name State Principal Rate Margin
- --------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C>
800384414 REDMOND GARY L JR GA 101,521.06 10.625 6.300
800384786 DIFANTE DOMENIC FL 104,886.59 10.250 6.250
800387466 GARDNER MARSHALL M UT 84,916.05 9.500 4.750
800387474 MOTT KEVIN L NY 108,000.00 11.125 6.450
800387888 NELSON DAVID NY 25,742.43 11.875 7.200
800393316 HESTER VALERIE NJ 90,100.00 11.875 7.000
800394033 ZROSKE LAURINE E NY 134,951.56 11.125 6.450
800394488 CARR RICHARD L VA 131,961.17 11.875 7.500
800395592 FRIEL NADINE FL 61,600.00 9.875 5.500
800397192 WILLIAMS RENEE M PA 127,758.02 11.375 6.875
800401846 MAGARRELL JAMES N UT 112,456.48 10.625 6.800
800401903 GOLDEN PETER F CT 160,000.00 9.875 6.450
800402810 LEDESMA DAVID ALLEN UT 83,200.00 13.000 9.150
800402851 CONWAY THOMAS J CO 72,977.92 11.750 6.900
800403610 GREEN TATYANA B WA 176,750.80 12.125 7.500
800404931 BLANKENSOP CHARLENE R CO 41,987.64 11.875 7.800
800406621 RICHARDS ELIZABETH NY 56,400.00 13.000 8.900
800406639 HEDGCOCK SHARON UT 112,939.87 9.125 5.500
800406993 BROOKS JAMES W AZ 37,500.00 11.000 6.900
800407082 WEBBER WILLIAM SCOTT CA 107,206.22 10.375 5.750
800407280 BAILEY LESLIE HOWARD MD 91,966.29 10.875 6.300
800407462 HOWELL BARRY E SR VA 62,439.97 8.875 5.000
800407983 SORBO ARMAND G PA 85,770.00 10.375 6.250
800408569 SIX DOROTHY E FL 51,910.77 9.750 5.750
800409518 URBACH RICHARD SCOTT NJ 197,837.64 10.375 6.100
800410359 SCHLICHER DAVID GA 132,050.00 9.625 7.100
800412330 COHRS MARK C CO 113,050.00 10.750 6.750
800415291 BIMBER DOUGLAS E PA 68,000.00 10.625 5.500
800415812 NIEVES JANET FL 64,400.00 12.000 6.250
800417602 MAJOR CLYDE PA 27,000.00 11.250 6.500
800417933 BLACKMAN CHRISTOPHE D FL 52,500.00 11.250 6.500
800418576 SMITH MADELINE M NY 73,446.20 9.875 6.050
800418865 STRINGER MICHAEL D NY 202,500.00 10.625 6.200
800419970 ORTIZ VALERIE E NM 123,250.00 10.375 6.750
800420127 SHOPE NANCY PA 82,400.00 10.625 5.750
800420382 LIZARES MARIA LUCIA NJ 109,800.00 10.750 6.875
800420663 WILCZYNSKI JOHN NJ 98,175.23 11.500 7.500
800422131 FAUX ROBERT RAYMOND PA 68,600.00 8.750 4.250
800422735 MILLER STEPHEN B PA 101,200.00 11.000 8.000
800423865 REPELLA JANET S PA 100,300.00 9.750 5.500
800425845 STRITTMATTER SCOTT PA 61,600.00 11.750 7.250
800425860 HARAMI RICHARD PA 41,600.00 12.750 8.000
800425928 HUGGLER DAVID C PA 85,000.00 10.625 6.750
800427098 ATENCIO MICHAEL E CO 82,500.00 10.625 6.500
800427452 STEFEL JAMES J NJ 156,000.00 11.750 8.700
800428104 COUNTS JACQUELINE B PA 49,600.00 12.750 8.000
800428591 BOYD THOMAS LEVI SC 70,250.00 12.000 7.250
800428633 SANASARIAN HAROUT FL 84,968.85 10.875 7.375
800429466 REED MARGARET E WA 110,465.65 11.625 7.000
800430498 LEEVER MICHAEL A FL 70,550.00 10.875 7.000
800431454 WHITE RICHARD E CO 160,000.00 8.250 4.250
800431744 WARDEN JOHN F FL 43,991.02 13.500 9.150
800431983 BANKS DOUGLAS J UT 125,600.00 12.125 7.750
800432544 BENSLEY DALE A NJ 96,000.00 9.750 5.500
800433435 KAUFMANN VINCENT D FL 103,452.98 9.875 7.125
800433641 QUINTANA JORGE NM 69,581.68 12.375 7.750
800433856 AMIET-HODANI CAROL ANN PA 169,098.84 11.750 7.550
800435331 TOLMAN TRAVIS UT 160,000.00 11.250 7.250
800436180 MILLER WILLIAM JR FL 60,750.00 8.750 5.500
</TABLE>
<PAGE>
<TABLE>
Page 26 of 34
A L L I A N C E F U N D I N G
A division of Superior Bank FSB
Loans Funded and Available for Sale to 1997-4 as of 12/19/97
<CAPTION>
Orig Current Note
Account Name State Principal Rate Margin
- --------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C>
800437758 FUTIA PATRICIA A NY 80,726.25 11.875 6.950
800438178 DAVISON JAMES R WA 119,632.89 8.875 5.000
800439572 YURASITS JEFFREY E PA 32,800.00 12.750 8.000
800439622 AMMERMANN WILLIAM T PA 79,900.00 11.000 6.500
800440349 ARROYO MIGUEL FL 78,000.00 12.375 7.000
800440687 PAULINSKY ROBERT WA 76,457.00 10.625 6.750
800441495 GOSLEE TROY DE 93,500.00 9.500 5.500
800443731 WHITE ALONZO NJ 76,500.00 11.500 7.650
800444853 CUNNINGHAM SHARON ANNE GA 79,900.00 11.375 7.300
800444895 HASS JAMES C UT 98,062.05 10.625 7.300
800445306 PURCELL IRVING J NY 105,000.00 10.750 6.550
800445355 DUCKWORTH WILLIAM J CO 75,963.59 9.625 5.600
800445504 RICE MALLORY CARL AZ 183,939.56 11.375 7.300
800447476 STEWART CRAIG AZ 71,968.99 10.125 6.250
800448581 WILLIAMS IRVIN AZ 44,980.61 10.125 5.550
800449308 FORD ANDRE PA 64,490.00 9.500 5.300
800450199 MONTOYA BAYANI P MA 151,725.00 12.625 8.400
800450447 HAAS GAYLE L UT 159,000.00 11.250 7.250
800450470 WOODWARD MARK A FL 39,400.00 13.375 8.500
800451098 MCMAHON KEVIN RI 93,600.00 11.875 7.500
800451411 CHAVEZ JOSE NJ 75,600.00 10.000 5.500
800451643 CARAMUCHE GREGORY A PA 150,000.00 8.375 5.000
800452260 FREDERICK TERRY W PA 92,500.00 9.125 5.000
800452468 OCHOA BRIGIDA NJ 135,000.00 10.875 6.800
800453425 ARMSTRONG PATRICIA A NM 157,500.00 9.500 6.250
800453540 ESCALERA HECTOR FL 52,000.00 12.750 8.000
800453607 HICKS LEEANN UT 71,315.00 8.625 5.000
800455651 GARCIA LUIS NY 136,800.00 10.125 6.250
800456949 WHITLEY LONNIE FL 79,050.00 11.875 7.000
800459604 CARTER BRIAN LEE NC 103,920.00 11.875 7.500
800459711 MICHEL SABINE NY 65,000.00 11.875 7.250
800459786 BANOVICH DANIEL E CO 110,800.00 11.000 7.750
800460107 GASH JOHN R NJ 127,500.00 9.875 6.050
800460263 GRAHAM CRAIG D UT 117,300.00 8.375 5.000
800461139 RESH CLAYTON RICHARD PA 145,000.00 8.250 4.250
800461543 DAGOSTINO LOUISE PA 96,050.00 11.125 6.750
800461808 MALJEVAC JOEANNE PA 70,125.00 10.750 6.250
800462228 MURGUIA JESSE AZ 60,750.00 10.375 6.550
800462475 LOWELL RUSSELL CT 110,400.00 10.625 7.150
800463218 OESTERLING ALBERT G CA 185,500.00 8.500 5.000
800464646 BOND SCOTT M UT 100,800.00 10.250 7.750
800464869 ANDRADE MELVILLE NY 46,400.00 9.625 5.500
800464950 CONZE ROSELLE FL 68,000.00 9.875 7.500
800465908 LOWERY LOU GARY NC 38,675.00 11.000 6.250
800467458 ROYAL WAYNE FL 59,400.00 10.375 6.250
800467508 MACIEL RICARDO WA 65,250.00 9.875 6.250
800467805 MATTERN DAWN PA 43,200.00 10.125 6.250
800468431 TURKALL DOROTHY A OH 78,500.00 9.625 5.500
800468464 ROBERTS KEVIN GA 85,000.00 11.375 7.000
800468639 STONER ROGER A SR PA 64,700.00 9.875 5.750
800469124 PUGH STEVEN M WA 102,000.00 10.125 6.250
800469231 PERGOLA JANET NY 212,000.00 12.500 8.550
800469561 ST GERMAIN KENNETH CT 60,000.00 10.625 6.650
800469751 ZELYAKOVSKY YEFIM NY 183,750.00 13.000 8.600
800469801 PAUL BRIAN F CO 127,500.00 12.375 8.050
800469975 OLSEN HEIDI UT 147,500.00 9.500 5.500
800470338 HEFFRON ANDREW MD 39,200.00 11.375 6.750
800470817 RUDDY FRANCIS AIDEN MA 106,250.00 10.625 6.750
800471484 MCINTIRE SHERLENE L NM 108,000.00 9.375 5.500
</TABLE>
<PAGE>
<TABLE>
Page 27 of 34
A L L I A N C E F U N D I N G
A division of Superior Bank FSB
Loans Funded and Available for Sale to 1997-4 as of 12/19/97
<CAPTION>
Orig Current Note
Account Name State Principal Rate Margin
- --------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C>
800471864 PIERRE NEGRONI P NY 162,000.00 9.250 6.250
800472433 SCHULTZ STEPHEN MATTHEW UT 130,000.00 10.250 6.550
800473159 BERGAMI CHARLES P NY 173,440.00 7.250 4.250
800473431 SINGH SOPHIA NY 121,975.00 10.250 6.750
800473449 CARR RAE MARIE FL 46,800.00 11.250 6.750
800473886 JORDAN CONNIE AZ 100,000.00 9.625 6.050
800477432 THOMAS ANTONIO L PA 63,750.00 10.125 6.250
800477994 LOVELACE LEROY JR GA 115,200.00 9.250 5.500
800478018 CHAMBERS ANGELA R NY 46,110.00 11.500 7.250
800478760 VAVER LINDA MAI WA 164,000.00 9.875 6.250
800478992 JACKSON MELANIE B UT 87,056.00 9.625 6.250
800479123 LENZEN REINER FL 71,825.00 10.500 6.750
800479727 JAIKARAN JALAKRAM NY 119,700.00 10.250 7.300
800480600 HATCH MAX O UT 164,000.00 9.000 5.000
800481533 DOONG JAMES UT 154,000.00 10.125 7.300
800483851 LAWTON CHRISTINE FL 69,000.00 10.125 6.250
800484396 CARROLL SCOTT M NJ 174,250.00 11.500 7.300
800485054 JEFFERS RODNEY L CO 125,000.00 11.875 7.250
800485732 PURCELL PATRICK A TX 95,115.00 10.625 6.750
800485955 LIEBERMAN RAY A JR PA 112,625.00 9.625 5.500
800487316 FLATT GERALD E AZ 63,750.00 10.625 7.050
800487381 BARRIOS MARIA DEL CARMEN AZ 59,000.00 10.625 7.050
800487407 VAZZANO MARION M CT 64,000.00 13.500 9.400
800488504 MORRIS KENNETH PA 47,610.00 8.500 5.500
800489213 MOORE DELORES A PA 36,050.00 10.750 6.000
800489965 MYERS MARK W FL 180,000.00 11.375 7.750
800490278 DEVITA ANTHONY M NJ 196,000.00 9.625 6.650
800490419 MYERS BRENDA J FL 47,200.00 11.500 8.000
800490484 REGESTER GARY L CO 193,600.00 8.125 4.500
800490765 WILLIAMS LATRICE FL 49,500.00 9.750 5.500
800492563 BROWN JONES MAKITA T NC 45,900.00 11.625 7.000
800492944 HORN ROBERT F FL 54,000.00 10.125 6.250
800497109 MACHLE FRANK FL 81,000.00 10.125 6.250
800501090 ALLEN KIM T PA 125,500.00 10.875 7.000
800501512 MOORE MARVIN GA 51,500.00 10.750 6.250
800503856 HARTMAN GARY D CO 117,040.00 9.375 6.250
800504870 ROSANIA NICHOLAS G NJ 130,962.52 12.000 9.250
800508699 TYLER CHARLES GA 72,000.00 10.125 6.250
-----------------------------------------------------------------------------------------------
Loans in Servicing not yet tagged for sale 272 26,091,535.72
Total ARM Loans Funded and Available: Sub-Pool III 272 26,091,535.72
</TABLE>
<PAGE>
<TABLE>
Page 28 of 34
A L L I A N C E F U N D I N G
A division of Superior Bank FSB
Loans Funded and Available for Sale to 1997-4 as of 12/19/97
<CAPTION>
Orig Current Note
Account Name State Principal Rate Margin
- --------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C>
SUB-POOL IV: ARM LOANS AVAILABLE FOR SALE
- ------------------------------------------
106123753 VULPI BETTY NY 86,118.30 13.875 8.250
106150926 KNIGHT JOSEPH A AZ 184,669.94 8.625 4.050
106151426 RASBERRY LEO C IL 248,040.82 11.000 6.800
106151533 HIGGINS ORLIE M IL 160,906.24 10.500 5.750
106154201 MCKINLEY COLUMBUS IL 50,368.51 11.625 7.150
106155805 CHRISTENSEN GARY D CA 349,654.32 9.500 5.000
106156713 SMITH SHERRI ANN IN 42,500.00 11.000 6.250
106156820 HOFFMAN DENNIS P IL 128,100.00 12.000 7.000
106157362 LUCIUS RITA IL 135,872.58 9.750 7.300
106157547 GRIFFIN HANNAH IL 62,000.00 13.250 8.250
106157560 GARCIA FELIX IL 139,700.00 12.375 7.600
106157566 HAMILTON JOANNA MAE MI 52,000.00 14.250 9.375
106157819 QAZI YOUSAF IL 165,756.48 10.125 6.000
106157821 WILLIAMS CAROL A IL 172,000.00 9.875 5.500
106157918 NIFOROS MARY FRANCES NM 94,400.00 14.125 9.250
106157928 MORROW TONI M IL 110,800.00 11.000 7.500
106158040 LOUIS AMETIS B IL 159,300.00 13.250 8.250
106158046 MORGUCZ LAURI L IL 140,800.00 9.750 5.500
106158089 PARKER JENNIFER L IL 140,000.00 13.625 9.000
106158474 HAWKINS CEDRIC B IL 180,000.00 11.000 6.250
106158514 FELTON JAMES IL 75,064.96 9.750 5.350
106158564 GARDNER JANI MA 297,500.00 9.250 5.350
106158605 BERGERON JAMES H MI 74,000.00 11.125 6.750
106158612 SCHULZE HANNELORE IL 104,896.29 9.500 6.000
106158621 SCHULLO FREDERICK MI 44,100.00 9.750 6.550
106158804 POWERS JOSEPH W JR IN 107,012.18 10.375 6.250
106158982 GRIFFITH PAULINE MI 240,000.00 10.500 7.800
106159303 VALENZUELA DIANE M MN 58,462.44 11.500 7.000
106159309 ISLAM MOHAMMED MI 55,800.00 10.125 5.900
106159329 SEBOK DONALD S IL 49,700.00 9.750 5.500
106159389 DUPREST DENNY A MI 94,500.00 10.875 6.750
106159433 POLTORAK PIOTR IL 208,000.00 12.250 7.500
106159476 LOPEZ RANULFO IL 159,910.51 12.125 7.500
106159479 STOTSKY MICHAEL F OH 89,558.81 13.000 8.500
106159666 GRZELAK JESSE IL 169,827.64 9.375 5.500
106159697 CAIN PAMELA IL 114,000.00 13.250 8.500
106159814 SPIES FRANK C IL 282,600.00 10.125 6.250
106159964 GRAB JEFFREY A MI 224,400.00 9.625 5.500
106160002 JONES MARY E IL 67,727.57 9.125 4.750
106160093 HARRIS DONALD MI 70,146.92 10.750 6.750
106160097 KLOTZ KATHLEEN H IL 54,956.09 10.500 6.000
106160272 AUSTIN GEORGE TN 195,899.15 12.500 8.500
106160289 ROSCOE DOROTHY OH 36,500.00 9.500 6.250
106160581 PARAFINO GUERRA IL 25,000.00 9.750 5.750
106160661 CASTELLANOS REYNA IL 130,000.00 10.375 6.750
800053704 MATHEWS DEBRA S NY 44,823.55 10.750 6.000
800057812 KAPLAN MICHAEL I NY 114,637.18 11.250 6.000
800089740 MOHN MARGARET I PA 131,254.17 9.000 4.500
800097776 MUGAR STEPHEN FL 68,647.22 11.000 6.250
800097867 PETICCA MARIO PA 39,816.25 10.000 5.250
800104002 COSSABOON ROBERT N PA 205,284.35 10.500 5.500
800107641 FELIX DIMAS R CT 99,318.07 11.750 7.250
800108664 MCWHORTER EDDIE GA 113,806.72 13.500 8.500
800122855 RAY HARRY C JR FL 46,513.36 11.750 6.250
800123614 JOHNSON THOMAS R SC 381,488.69 11.500 6.750
800133472 QUILES JOSE NJ 179,408.27 11.250 7.250
800139602 LANDES MARK F FL 68,807.99 9.875 5.000
</TABLE>
<PAGE>
<TABLE>
Page 29 of 34
A L L I A N C E F U N D I N G
A division of Superior Bank FSB
Loans Funded and Available for Sale to 1997-4 as of 12/19/97
<CAPTION>
Orig Current Note
Account Name State Principal Rate Margin
- --------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C>
800140535 LINK JOHN NY 175,573.16 9.750 5.500
800145591 LEARY JOHN M MA 240,433.73 12.125 6.500
800160962 CORRADO SANDRA D NY 122,213.45 10.875 6.250
800161861 GRANTHAM DONNELL NY 100,459.68 11.125 6.750
800165664 MCGUIRE THOMAS J NY 120,106.37 11.875 7.750
800173510 KUSAKAVITCH JOSEPH PA 116,862.79 10.750 5.750
800179848 NASE JAMES S PA 17,956.15 10.500 5.750
800182925 BARCA JOSEPH NY 77,837.99 10.375 6.750
800208761 BISHOP FRANK NY 341,418.97 10.250 6.750
800211179 CUCUZZA FRANK NY 591,289.09 9.375 5.750
800216673 WILLIAMS ROBERT R PA 65,521.10 10.500 5.750
800227142 DELORENZO PAUL W NJ 45,472.61 13.625 7.750
800233710 VANALPHEN ROBERT NY 79,829.38 10.250 6.750
800239675 COUNTRYMAN ROBERT J NY 55,154.72 12.250 7.250
800242604 KLEIN ALEX NY 334,588.76 11.750 7.800
800244618 ANGERS MARC D CT 152,371.56 10.250 5.750
800251423 CROCKWELL ANDRE CT 132,985.45 10.500 6.875
800251696 FERREIRA EUNICE NJ 138,776.12 11.375 6.750
800252207 SCHOCH ROBERT C OH 62,924.22 10.500 5.500
800261059 WRIGHT THOMAS NY 131,209.62 9.625 6.050
800266314 SOLIS JOSE L NJ 31,479.77 11.500 7.150
800276909 WESHNER ERIC NY 99,905.82 11.625 7.000
800280497 JONES ANGELLA G NY 248,778.08 11.875 8.500
800284366 THORNE MELANIE A PA 31,462.14 10.500 5.750
800287856 SHAMY JERROLYN AZ 69,901.22 9.750 5.300
800291700 LITA FAIK NJ 232,258.73 9.250 5.900
800293060 OLSEN MICHELLE C UT 93,493.33 10.750 6.500
800293755 RIEDLINGER CHARLES G PA 109,500.00 11.750 7.050
800295701 MANNS KEVIN P PA 66,383.47 12.625 7.500
800303471 SHIELDS JOHN L JR PA 63,662.69 11.250 6.950
800312068 BLACHMAN CHAIM NY 318,576.60 12.250 7.900
800314296 CARDENAS JOSEPHINE NY 160,949.95 11.625 7.250
800317158 D'AMBRA FRANK VA 401,102.98 10.875 6.375
800318016 EWALT VALERIE A AZ 174,695.73 8.750 5.400
800323487 IANUZZI STEVEN J PA 44,000.00 13.625 8.900
800323727 GOODMAN CHRIS AZ 72,000.00 10.250 6.750
800335986 POPIELARZ ROBERT NY 120,000.00 13.625 8.875
800336299 NORTON JOHN RICHARD AZ 80,800.00 11.875 7.300
800341315 REINOLD BRIAN J MD 167,747.44 10.875 7.500
800343121 THOMPSON ISAIAH NY 49,976.05 9.625 5.300
800349037 GONZALEZ ADRIAN E PA 67,180.77 12.000 7.250
800349722 BROWN BRIDGETT D GA 20,924.10 13.125 8.800
800352676 HOWARD LISA MARIE CO 94,802.57 7.875 5.250
800352973 DOAN HIEN HUU NC 87,055.74 10.375 5.800
800356792 CUMBERLAND STEPHEN W PA 144,000.00 9.875 6.250
800357493 FIGARO MARIE FL 50,980.27 10.625 6.500
800361057 MEI HSIAO LAI CA 422,791.94 9.500 6.050
800362618 RUGER TERRY GEORGE PA 128,225.76 11.500 7.500
800363624 EL SIMBA TARIK NJ 58,453.31 10.500 5.700
800363715 ASHTON BYRON NY 120,000.00 9.750 6.300
800366718 MUNOZ TRACY NY 297,415.00 11.750 7.300
800371536 O KEEFE ROBERT N NJ 171,000.00 11.125 6.800
800372278 MUSTO JOSEPH PA 43,920.00 12.250 7.500
800372294 ELLIOTT LESLIE H PA 60,164.61 11.875 7.300
800377939 PLOTKIN MICHAEL CT 108,000.00 12.750 8.300
800378697 SELLERS DONALD J FL 84,000.00 9.125 4.250
800379075 MARTIN FRANK A PA 650,000.00 10.000 5.550
800380545 GAL YEHUDA LANGLEBEN NY 202,475.00 12.750 7.500
800381816 NOVEMBRE MARIE C NY 105,000.00 10.625 6.300
</TABLE>
<PAGE>
<TABLE>
Page 30 of 34
A L L I A N C E F U N D I N G
A division of Superior Bank FSB
Loans Funded and Available for Sale to 1997-4 as of 12/19/97
<CAPTION>
Orig Current Note
Account Name State Principal Rate Margin
- --------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C>
800382137 FISHER JOHN B FL 121,600.00 12.625 8.125
800386120 HOLT TRAVIS TX 81,450.00 10.625 6.750
800388431 PORTER DAVID L FL 54,329.51 10.125 5.500
800390908 SCHOUTEN ROBERT D OR 327,692.70 9.750 5.400
800391260 STEPHENS TERRY LEE MD 140,731.52 12.750 8.250
800391609 PETERSEN LAYNE H UT 190,800.00 10.375 5.750
800391849 FARRELL RACHEL L CA 294,130.68 8.750 4.000
800393837 HANG MARSHA S RI 105,571.42 12.250 7.750
800394066 FIORITA ANGELO CT 247,396.21 10.250 6.050
800394413 GARRISON DALE L PA 35,615.00 12.000 7.250
800395238 PEKTOR LOUIS P III PA 432,000.00 9.625 5.250
800396483 SOLOMONE-LAW NANETTE KATH PA 53,379.89 10.750 6.000
800397143 SMALL MARK NY 194,192.31 9.125 4.750
800400939 FERNANDEZ ROSELIN NY 208,250.00 9.875 6.000
800402216 BAIRD SHIRLEY NY 142,144.99 10.625 6.800
800402596 PRETTIPAUL CHRISTENDU NY 161,446.96 11.375 7.800
800404550 SCHAAF GEORGIA A CA 214,962.84 8.250 5.250
800406712 LEWIS VERNON T JR CO 123,250.00 11.375 7.250
800409211 JONES LENARD SR CO 155,200.00 11.000 7.750
800413833 MUNOZ EDWIN A NY 214,136.99 11.875 7.450
800416109 HURST ALEX NY 247,396.21 10.250 7.300
800416653 PATANE PAPALII UT 212,216.26 10.125 6.500
800417412 URIBE JOSE L UT 59,946.70 10.000 6.000
800417461 MYLER TERRANCE S UT 136,693.71 10.625 6.750
800419178 GILLISH KATHLEEN NJ 117,291.55 9.875 5.000
800421612 HORN JANIS M MD 476,000.00 11.625 8.200
800422107 LAMBERT KIM D PA 67,070.00 10.625 6.750
800422875 PORRAS ARMANDO NY 277,944.09 8.875 5.850
800422982 THOMAS ARNELLE NJ 127,235.22 10.375 6.500
800423923 PLANK JAMI R PA 39,983.67 10.375 5.750
800423931 PLANK JAMI RAE PA 34,216.03 10.375 5.750
800429334 POZARLIK ALLEN CT 67,500.00 11.500 7.600
800431421 SWILLEY BOBBY FL 51,181.74 11.000 7.000
800431967 NEWMAN JULIA R CA 441,000.00 8.750 6.250
800433252 GREGORY STEPHEN NY 168,000.00 13.375 9.050
800436602 KIRKPATRICK BRIAN KEVIN CO 122,400.00 9.250 6.000
800437493 FURTADO JOSEPH M RI 576,300.00 9.750 6.750
800438368 JOHNSON SHANE UT 71,500.00 9.875 6.000
800439697 ROTHFELD KATHRYN NY 391,884.69 11.875 8.900
800439747 PETERSON DARLEEN NY 150,075.00 10.250 7.300
800440315 FERREIRA RAYMOND J RI 106,000.00 10.000 5.750
800444739 JOHNSON MAUDRINE NY 225,000.00 11.125 7.300
800444960 DAVIS DELROY NY 225,000.00 10.750 6.550
800445173 GIETZ TERRY M AZ 170,353.53 10.250 6.750
800445363 GOODWIN DAVID A AZ 182,716.94 9.875 6.550
800447500 ESPOSITO PETER NJ 252,000.00 11.125 7.300
800448193 ESTEVEZ CAROLINE NJ 132,000.00 11.250 7.300
800448243 DISNEY JOHN MD 199,000.00 13.625 9.200
800448284 OLIVEIRA GABRIEL MA 139,600.00 9.625 5.750
800448870 NAPLES ROBERT M JR PA 111,900.00 9.750 5.500
800449431 CASTELLANO MICHEL J CT 850,000.00 9.375 5.800
800449597 PHILLIPS WILLIAM UT 108,000.00 10.125 6.500
800450900 HENRY ROBIN LEE MD 112,500.00 9.875 5.500
800451270 GURGEL JOSHUA D NY 39,866.72 13.625 8.200
800453672 ROSSI DANNY CT 975,000.00 10.125 6.900
800457046 PARKER RONNIE L TX 137,574.36 9.875 6.500
800457442 HAIL CARMEN A JR WA 54,250.00 12.125 8.000
800457772 COLLAZO ROBERTO TORRES MA 151,300.00 10.625 6.750
800458143 CAMPANARO LEONARD CO 165,614.09 10.375 7.000
</TABLE>
<PAGE>
<TABLE>
Page 31 of 34
A L L I A N C E F U N D I N G
A division of Superior Bank FSB
Loans Funded and Available for Sale to 1997-4 as of 12/19/97
<CAPTION>
Orig Current Note
Account Name State Principal Rate Margin
- --------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C>
800459588 JOHNSON CLARITHA M SC 59,500.00 11.000 6.250
800459620 GILBERT KEITH R NY 74,879.23 10.500 6.250
800460131 BREESE HAROLD ROBERT FL 77,288.25 10.500 6.000
800461006 LEBEL DOROTHY A PA 60,000.00 9.500 5.000
800461279 SIMMONS STEVEN L GA 152,000.00 9.750 5.500
800461873 OLUSAJO OLUGBEMIGA A NJ 67,926.59 11.000 7.100
800463275 BLANKS FREDERICK S VA 116,625.00 10.750 6.500
800463937 NICHOLS CHESLEY E WA 77,000.00 10.500 6.750
800468183 BLACKWELL JANIS PA 48,800.00 9.625 6.250
800469546 MYNDERSE BARENT P CA 432,000.00 8.750 4.750
800470700 CHOWDHURY NAZIM U MA 78,960.00 8.250 4.250
800472367 ROWSELL CAROLYN UT 84,150.00 10.500 6.750
800472540 HORNER RODNEY S PA 90,000.00 9.875 6.250
800478935 KERMIZIS MICHAEL J UT 900,000.00 9.875 6.550
800479529 ALVAREZ LUDWING CO 51,320.12 9.125 5.750
800479602 ALVAREZ LUDWING CO 71,173.89 9.125 5.750
800479750 ARENAS GABRIEL CO 173,700.00 8.125 5.000
800480444 JONES CHAD E PA 76,000.00 9.625 6.000
800480527 KEITT LAZARIUS PA 36,750.00 9.750 6.000
800483117 TRUJILLO DONNA UT 97,243.03 10.250 7.000
800484487 BOHNENBERGER JOHN F NJ 192,329.41 9.750 5.250
800487035 POULOS GEORGE MA 148,500.00 10.375 6.500
800487928 PACE RYAN UT 140,141.02 10.625 6.750
800490997 HANSON ANN S CO 104,682.05 8.875 5.250
800491102 KELLEY JAMES D WA 240,000.00 9.375 5.500
800491763 OSBUN BRUCE H PA 83,000.00 11.375 7.250
800493918 HOLMES KENNETH PA 77,350.00 11.250 6.750
800497356 MATTHEW JAMES M CO 318,600.00 9.375 6.250
800499774 MAGLIANE THOMAS PA 40,050.00 10.125 6.250
800502486 BRADSHAW HAZELYN GA 126,000.00 10.125 6.250
800502726 DOOGAN WILLIAM T CO 416,522.79 9.500 5.000
800508384 BILLINGSLEA YOLANDA M. NY 145,000.00 9.500 5.500
-----------------------------------------------------------------------------------------------
Loans in Servicing not yet tagged for sale 207 32,511,686.47
106155383 WILLIAMS CHERYL IL 59,400.00 10.125 6.250
106155844 REAGAN MAUREEN R. MN 87,500.00 11.750 7.300
106156087 HILLAWI BASIL YACOUB MI 104,200.00 10.000 6.800
106157718 GAYNOR ROGER MI 57,600.00 12.375 9.400
106157872 PENA ROBERTO MN 60,800.00 10.125 6.250
106158279 DILLARD LESLIE MI 26,000.00 12.375 8.300
106158356 HAMMERSMITH JAMES IL 100,000.00 10.875 6.500
106158519 RIVERA JOSE L. IL 115,800.00 12.875 8.100
106158534 POSEKIEWSKI KRIS J. MI 134,400.00 10.500 7.300
106158546 HATFIELD THOMAS E. WI 59,200.00 12.125 7.500
106158622 ALGARRAI HAMED MI 43,200.00 9.500 6.150
106158630 GILLENWATERS PIERRE K. MI 32,800.00 9.625 6.250
106158860 SIMMONS ERIC L. IN 15,400.00 10.125 5.250
106160380 ALEXANDER CHARLES IN 44,000.00 11.875 7.500
106160499 BIGGS PATRICK MI 29,700.00 10.375 10.000
106160825 KRAMER DIANNE MI 211,500.00 9.500 6.550
800223414 PAXTON ELAINE NJ 119,200.00 9.750 5.250
800236051 SCANDIFFIO ANTHONY NJ 283,500.00 10.000 6.450
800266074 PURCELL MARK S SC 88,200.00 10.250 6.750
800286692 RALSTON CURTIS W CT 276,750.00 9.625 5.000
800300493 FREDERICK DEBORAH NJ 50,800.00 13.125 8.650
800357691 LEMIEUX BRUCE M MA 148,800.00 11.750 7.150
800370637 MANE JOEL NJ 165,750.00 11.625 7.800
800372765 HEFFRON ANDREW S MD 38,250.00 11.250 6.800
800374647 LEHANAN MAUREEN NJ 251,000.00 13.375 8.550
</TABLE>
<PAGE>
<TABLE>
Page 32 of 34
A L L I A N C E F U N D I N G
A division of Superior Bank FSB
Loans Funded and Available for Sale to 1997-4 as of 12/19/97
<CAPTION>
Orig Current Note
Account Name State Principal Rate Margin
- --------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C>
800377129 WATSON ALFRED M NY 84,575.00 12.625 8.050
800383549 DIAZ MARVIN NJ 80,000.00 10.500 6.050
800384000 PRICE JAMES DAVID PA 29,700.00 10.125 5.750
800395105 FRIESE CARL A PA 65,700.00 10.125 5.750
800399479 SPEROS JAMES R NJ 87,975.00 11.875 7.550
800405946 JANSEN JOHN C NJ 185,000.00 9.625 5.950
800410334 REEVES SHARON PA 44,000.00 10.500 6.550
800410458 LINDEMUTH SCOTT D PA 44,000.00 9.875 6.050
800424434 LEONE FRANCES PA 39,985.00 11.625 7.000
800428013 CARNEY DAVID E AZ 144,000.00 8.500 5.500
800431884 HENSLEY WILLIAM CLYDE MD 65,000.00 10.750 7.250
800449498 WADE BRYAN K NV 140,000.00 9.750 5.900
800461303 HERRING RICHARD WARREN CO 167,875.00 11.500 7.800
800462343 MOORHEAD MICHAEL AZ 153,000.00 10.375 6.550
800467656 GENTRY JOANNE L WA 30,000.00 12.625 8.250
800473613 BRUNO MARIE MONETTE NY 197,200.00 11.625 7.800
800473860 GARBAWI SHLOMO CO 149,500.00 9.000 6.300
800473878 WEST JOSEPH KELLY CO 142,200.00 9.750 5.850
800479693 REDMON JOELLA NM 102,600.00 10.375 6.550
800479719 SEBELE LETANG AZ 101,600.00 10.875 7.500
800481327 FINCH SCOTT A WA 264,000.00 8.875 5.500
800482168 COLLINS LAMONT D PA 143,225.00 10.875 7.250
800484115 DABICE FRANCIS M NJ 127,800.00 10.625 7.650
800484354 ALLEN DARLENE CA 157,500.00 8.875 5.500
800484792 ALLEN DARLENE CA 140,000.00 9.625 6.000
800485898 LLOYD L CAROL UT 129,600.00 10.125 6.550
800486029 DZIETCZYK DARIUSZ NJ 94,800.00 10.000 6.250
800486243 ROBERTS HUERETTA P TX 100,700.00 9.000 6.250
800487233 BRADER ROBERT AZ 164,700.00 8.250 5.800
800487514 SIMONS GARY D AZ 153,000.00 9.875 6.550
800490492 BARDINAS FELIX NJ 152,100.00 10.000 6.950
800490773 TAYLOR BONNIE AZ 81,600.00 9.250 5.650
800490807 VAUGIER RICHARD L AZ 273,000.00 8.875 6.650
800493199 MACCLELLAN ROGER C. FL 131,400.00 9.500 5.500
800495863 JABBOURY KHALED W TX 186,900.00 8.125 5.000
800496481 MANN ALISON NJ 140,000.00 10.500 6.550
800497489 CLARKE PAMELA PA 30,600.00 11.625 7.000
800505562 KURTZ DALE A CO 154,776.00 9.500 5.500
-----------------------------------------------------------------------------------------------
Loans Funded and not yet in Servicing 63 7,283,361.00
Total ARM Loans Funded and Available: Sub-Pool IV 270 39,795,047.47
Total ARM Loans Funded and Available: Group 2 542 65,886,583.19
</TABLE>
<PAGE>
<TABLE>
Page 33 of 34
A L L I A N C E F U N D I N G
A division of Superior Bank FSB
Loans Funded and Available for Sale to 1997-4 as of 12/19/97
<CAPTION>
Orig Current Note
Account Name State Principal Rate Margin
- --------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C>
CLOSED NOT FUNDED
- -----------------
800406191 MCKAY ERNEST NY 135,000.00 9.875 6.250
800425522 TOOLE TERRENCE A CO 102,000.00 8.875 5.500
800434839 MOORE MICHAEL EDWARD FL 108,800.00 9.250 5.250
800451288 PETERS LAURA UT 237,600.00 10.500 7.400
800469322 COMBS RALPH WA 101,343.00 10.125 6.250
800477085 GARDNER III RICHARD G NV 152,100.00 9.875 6.250
800479354 PFAU FREDERICK W ID 228,650.00 9.375 6.250
800488157 VANCO ERIC VA 44,000.00 12.125 8.000
800488520 CURRY CHRISTOPHER J PA 56,625.00 9.500 5.500
800499576 LASHLEY GILLIAN FL 46,750.00 11.625 7.000
800501033 WEISER DAVID C AZ 140,250.00 10.375 6.750
800502452 HUMEL DONALD NY 76,548.00 11.875 7.250
800508970 HUGHES GLEN E WA 243,000.00 9.250 5.500
800512915 GALLEGOS JAMES A CO 168,000.00 11.875 7.750
800514770 OTT DONNA K PA 105,300.00 8.750 5.500
800518185 BRADLEY FRANCES X PA 44,000.00 11.500 7.250
-----------------------------------------------------------------------------------------------
ARM Loans Closed and not Funded 16 1,989,966.00
SET TO CLOSE
- ------------
800375271 TORRES STEVEN J MD 157,500.00 10.125 6.250
800377889 PANISSIDI KENNETH CT 125,000.00 12.875 8.900
800404253 POLLACK EDNA M NY 230,400.00 10.875 7.300
800417289 JOHNSON MELISSA WHITE NY 173,700.00 10.875 7.300
800421257 ROMERO LOUIS DEAN CO 187,000.00 10.125 6.750
800423493 BERIGUETE CARLOS A NY 143,100.00 10.250 7.300
800424665 JENDRAL KATHERINE PA 83,000.00 9.625 5.500
800428963 STALEY ROBERT NJ 157,500.00 11.250 6.500
800429060 CURTIS PETER NJ 150,325.00 10.750 7.000
800435430 CHISOLM JOE W PA 65,700.00 9.750 5.500
800437022 WOODHEAD ROGER NJ 92,000.00 9.125 5.500
800438210 ZEOLI CARMINE NJ 129,000.00 11.500 7.400
800440265 KALABON DANIEL OH 103,615.00 11.500 8.050
800443483 WOODWORTH CHARLES NJ 495,750.00 13.500 8.650
800444549 PEZUTI MICHELLE NJ 188,000.00 9.625 5.875
800450439 HENDERSON ANDREA NJ 31,000.00 12.875 8.150
800454100 LUTKEFEDDER NORMAN W MD 500,000.00 10.625 6.750
800462103 GUTIERREZ ARVEY NY 255,600.00 10.125 6.250
800462715 STOVALL HOWARD CT 81,000.00 11.250 7.650
800464356 WALDRON CAROL J NJ 144,000.00 10.750 6.550
800466690 SKRENTNY MICHAEL T AZ 58,650.00 8.500 4.500
800467466 BRUNELLE ROBERT J NY 43,650.00 11.125 7.300
800473050 MYERS ANNE ROSENBAUM NY 168,000.00 12.000 9.050
800473654 LAURISTON RAPHAEL NY 100,000.00 10.750 7.500
800475956 SHARP CLEVE J TX 45,000.00 9.250 5.500
800476061 DEVIERAS VILMA MD 260,950.00 9.875 5.750
800476897 ROBERTS MARK A MI 75,600.00 11.125 7.000
800482408 DUFFY THOMAS MARTIN CO 403,750.00 10.125 6.750
800484016 CARSLAKE MURRAY FL 400,000.00 9.000 5.500
800488132 FOX TRENT A CT 176,760.00 8.500 5.500
800490617 BAUX STEVEN G NJ 110,000.00 9.750 6.125
800492274 CONNORS TIMOTHY J NY 480,000.00 9.500 5.500
800492944 HORN JR ROBERT F FL 54,000.00 10.125 6.250
800493215 COULOMBE JOHN NY 123,250.00 11.875 8.400
800493363 D'INNOCENZO DONNA ANN CO 90,000.00 9.000 5.250
800493728 HIRSCHKORN SARIT NJ 160,000.00 10.625 6.950
800494338 NOEL WISNER A CT 67,500.00 11.250 7.650
800494601 SANTOS MIGUEL FL 124,000.00 10.625 6.750
</TABLE>
<PAGE>
<TABLE>
Page 34 of 34
A L L I A N C E F U N D I N G
A division of Superior Bank FSB
Loans Funded and Available for Sale to 1997-4 as of 12/19/97
<CAPTION>
Orig Current Note
Account Name State Principal Rate Margin
- --------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C>
800496440 CIPOLLA CHARLES J. NC 149,600.00 8.500 4.250
800496663 SPINDLE KEVIN UT 198,750.00 9.625 5.750
800496861 CAPITANO PETER JAY PA 112,500.00 9.500 5.500
800496879 TAMAR KYRON C TX 284,000.00 9.875 5.750
800497281 TARBOX EDWARD PA 77,350.00 12.125 7.500
800498917 MATTHEWS JR THOMAS E MD 233,550.00 9.250 5.250
800499774 MAGLIANE THOMAS PA 40,050.00 10.125 6.250
800501090 ALLEN KIM T PA 125,500.00 10.875 7.000
800501595 DIVITO FRANK NY 136,000.00 12.125 8.000
800501892 KNOX EILEEN PA 44,100.00 9.000 6.250
800502494 CALERO PABLO S NY 215,000.00 9.250 5.300
800504235 LOPEZ GERMAN CT 109,650.00 12.000 8.150
800504672 MANWARREN CLARK NM 148,800.00 11.125 7.250
800505117 FRANK JOSEPH P PA 73,100.00 10.000 6.350
800505703 DEHAVEN THYRA R WA 160,000.00 13.625 9.500
800505901 CHIU JON PA 105,600.00 10.625 6.500
800507881 BOUILLERCE FREDERIC CT 280,500.00 11.500 7.300
800511438 CARNEY DENISE NY 318,000.00 12.000 7.900
800511701 GRUNDER DARYL R CO 83,250.00 9.375 6.250
800513327 PATERSON WILLIAM M NJ 105,000.00 10.000 6.800
800513467 NUNEZ MARTINA NJ 104,000.00 11.875 7.850
800516106 BARTLETT GARY F FL 80,750.00 10.375 6.750
800517120 SANABIA FELIPE NY 141,600.00 10.375 6.550
800518151 MORRIS SAMUEL NJ 93,500.00 11.500 7.150
-----------------------------------------------------------------------------------------------
ARM Loans Set to Close 62 9,854,450.00
Total ARM Loans Not Yet Funded but Closed or Set to Close 78 11,844,416.00
</TABLE>
<PAGE>
EXHIBIT S
MORTGAGE LOANS 30 OR MORE DAYS DELINQUENT
<PAGE>
EXHIBIT T
SUBSEQUENT TRANSFER INSTRUMENT FOR
[SUB-POOL I][SUB-POOL II] [SUB-POOL III][SUB-POOL IV]
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 1997-4, as purchaser (the "Trustee"), and pursuant to the
Pooling and Servicing Agreement, dated as of December 1, 1997, by and among
Superior Bank FSB, as Depositor, 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 1997-4
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 1997-4 ATTACHMENT A TO
SUBSEQUENT TRANSFER INSTRUMENT FOR [SUB-POOL I] [SUB-POOL II]
Series 1997-4
________, 199__
A.
1. Subsequent Cut-off Date:
2. Pricing Date:
3. Subsequent Transfer Date:
4. Aggregate Principal Balance of the Subsequent Mortgage
Loans as of the Subsequent Cut-off Date:
5. 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 zip code concentration: _____ %
11. Condominiums: _____ %
12. Single-family: _____ %
13. Multifamily and Mixed Use _____ %
14. Manufactured Homes _____ %
15. Periodic Payment Loans _____ %
16. Weighted average term since origination: _____ months
17. January 1998 first payment date: _____ %
<PAGE>
AFC MORTGAGE LOAN ASSET BACKED CERTIFICATES, SERIES 1997-4 ATTACHMENT A TO
SUBSEQUENT TRANSFER INSTRUMENT FOR [SUB-POOL III] [SUB-POOL IV]
Series 1997-4
________, 199__
A.
1. Subsequent Cut-off Date:
2. Pricing Date:
3. Subsequent Transfer Date:
4. Aggregate Principal Balance of the Subsequent
Mortgage Loans as of the Subsequent Cut-off Date:
5. 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 Gross Margin: _____ %
3. Lowest Minimum Mortgage Rate: _____ %
4. Greatest Maximum Mortgage Rate: _____ %
5. WAC of all Mortgage Loans: _____ %
6. Weighted Average Gross Margin: _____ %
7. WAM of all Mortgage Loans: _____ %
8. Balloon Mortgage Loans: _____ %
9. Largest Principal Balance: $________
10. Non-owner occupied Mortgaged Properties: _____ %
11. Maximum zip code concentration: _____ %
12. Condominiums: _____ %
13. Single-family: _____ %
14. Manufactured Homes: _____ %
15. Weighted average term since origination: _____ months
16. January 1998 first payment date: _____ %
17. Greatest Loan-to-Value Ratio: _____ %
18. Weighted Average LTV: _____ %
<PAGE>
EXHIBIT U
FORM OF ADDITION NOTICE
________________________
[Date]
[Trustee]
_______________________
_______________________
Re: Pooling and Servicing Agreement, dated as of December 1, 1997
(the "Pooling and Servicing Agreement"), between [Depositor]
[Trustee] and [Servicer], relating to AFC Mortgage Loan Asset
Backed Certificates, Series 1997-4
-----------------------------------------------------------------
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 Group 1 Mortgage Loans] [Section 2.10(d) for Group 2 Mortgage
Loans] of the Pooling and Servicing Agreement, dated as of December 1,
1997, among the Depositor, 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:
