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: March 28, 1997
(Date of earliest event reported)
MORTGAGE CAPITAL FUNDING, INC.
(Packager and Servicer)
(Issuer in Respect of
Multifamily/Commercial Mortgage Pass-Through Certificates Series 1996-MC1)
(Exact name of registrant as specified in charter)
Delaware 33-25068;33-63924 13-3408716
(State or other juris- (Commission (I.R.S. Employer
diction of organization) File Nos.) Identification No.)
399 Park Avenue, New York, New York 10043
(Address of principal executive offices) (Zip Code)
Registrant's Telephone Number, including area code (212) 559-6899
(Former name, former address and former fiscal year,
if changed since last report.)
<PAGE>
Item 5. Other Events.
MORTGAGE CAPITAL FUNDING, INC.
Multifamily/Commercial Mortgage
Pass-Through Certificates, Series 1996-MC1
------------------------------------------
On July 10, 1996, the Registrant issued the Multifamily/Commercial
Mortgage Pass-Through Certificates, Series 1996-MC1 (the "Certificates")
pursuant to a Pooling and Servicing Agreement, dated as of July 1, 1996 (the
"Agreement").
In connection with the distribution of principal and interest payments on
the Ceritificates on the respective Distribution Dates, the Trustee under the
Agreement furnished to holders of record of the Certificates Distribution Date
statements. Such statements are being filed as exhibits to this report.
Item 7. Financial Statements and Exhibits
(a) Not applicable
(b) Not applicable
(c) Exhibits
Exhibit No. Description
----------- -----------
20.(a) Statement to Certificateholders dated August 15, 1996.
20.(b) Statement to Certificateholders dated September 15, 1996.
20.(c) Statement to Certificateholders dated October 15, 1996.
20.(d) Statement to Certificateholders dated November 15, 1996.
20.(e) Statement to Certificateholders dated December 15, 1996.
20.(f) Statement to Certificateholders dated January 15, 1997.
2
<PAGE>
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned thereunto duly authorized.
MORTGAGE CAPITAL FUNDING, INC.
(Registrant)
By: /s/ Richard L. Jarocki, Jr.
-------------------------------
Richard L. Jarocki, Jr.
President
Dated: March 28, 1997
3
Corporate Trust Department
Securities Administration
Report to Certificaholders
- --------------------------------------------------------------------------------
CONTENTS
- --------------------------------------------------------------------------------
CONTENT PAGE NUMBER
------- -----------
QUICK REFERENCE ...............I FACTOR SHEET ..................... 4&5
FOR EASY ISSUE AND FACTOR FOR DETAILED INFORMATION
INFORMATION
PAYMENT SUMMARY ...............1 BALANCE INFORMATION .............. 6
FOR SECURITY AND COLLATERAL
BALANCE INFORMATION
PAYMENT DETAIL ................2&3 DELINQUENCY AND OTHER ............ 7
INFORMATION
- --------------------------------------------------------------------------------
Mortgage Capital Funding, Inc.,
Multifamily/Commercial Mortgage-Pass-Through Certificates,
Series 1996-MC1
Payment Date: August 15, 1996
- --------------------------------------------------------------------------------
QUICK REFERENCE
- --------------------------------------------------------------------------------
BEGINNING PASS
CERTIFICATE THROUGH INTEREST PRINCIPAL
CLASS CUSIP FACTOR RATE TYPE DISTRIBUTION(1)
- ----- ----- ----------- ------- -------- ---------------
X-1(*) 61910DBE1 1.00000 0.79600% Variable 0.00000
X-2(*) 61910DBF8 1.00000 0.96003% Variable 0.00000
A-1 61910DBG6 1.00000 6.12000% Variable 0.84757
A-2A 61910DBH4 1.00000 7.35000% Fixed 2.96421
A-2B 61910DBJ0 1.00000 7.90000% Fixed 0.00000
B 61910DBK7 1.00000 7.90000% Fixed 0.00000
C 61910DBL5 1.00000 7.80000% Fixed 0.00000
D 61910DBM3 1.00000 7.80000% Fixed 0.00000
E 61910DBN1 1.00000 7.70000% Fixed 0.00000
F 61910DBP6 1.00000 7.70000% Fixed 0.00000
G 61910DBQ4 1.00000 7.15000% Fixed 0.00000
H 61910DBR2 1.00000 5.70000% Fixed 0.00000
J 61910DBS0 1.00000 5.70000% Fixed 0.00000
K 61910DBT8 1.00000 5.70000% Fixed 0.00000
R-II N/A 0.00000 0.00000% N/A 0.00000
ENDING
INTEREST CERTIFICATE
CLASS DISTRIBUTION(1) FACTOR
- ----- -------------- -----------
X-1(*) 0.66333 0.99915
X-2(*) 0.80000 0.99902
A-1 5.95000 0.99915
A-2A 6.12500 0.99702
A-2B 6.58333 1.00000
B 6.58333 1.00000
C 6.50000 1.00000
D 6.50000 1.00000
E 6.41667 1.00000
F 6.41667 1.00000
G 5.95833 1.00000
H 4.75000 1.00000
J 4.75000 1.00000
K 4.75000 1.00000
R-II 0.00000 0.00000
- ----------
(1) represents net payment per certificate
(*) Based on a Notional Balance
NOTE: There are no Principal Adjustments or Losses to report this period. There
is no Negative Amortization to report this period.
Account Administrator: William T. Oberlies, Ph. (617)664-5420
Account Officer: William G. Swan, Ph. (617) 664-5469
Street Connection: for Factor & Rate by CUSIP, Ph. (617) 664-5500
<PAGE>
Corporate Trust Department
Securities Administration
Report to Certificaholders
Mortgage Capital Funding, Inc.,
Multifamily/Commercial Mortgage-Pass-Through Certificates,
Series 1996-MC1
Payment Date: August 15, 1996
- --------------------------------------------------------------------------------
PAYMENT SUMMARY
- --------------------------------------------------------------------------------
PRINCIPAL
DISTRIBUTION PRINCIPAL ACCRUED INTEREST TOTAL
CLASS AMOUNT ADJUSTMENTS INTEREST ADJUSTMENTS(3) PAYABLE
- ------ ------------ ----------- ------------- -------------- -------------
X-1(*) 0.00 0.00 $ 19,878.08 0.00 $ 19,878.08
X-2(*) 0.00 0.00 $ 385,500.36 0.00 $ 385,500.36
A-1 $ 25,399.00 0.00 $ 178,303.36 0.00 $ 203,702.36
A-2A $447,631.04 0.00 $ 918,750.00 0.00 $1,366,381.04
A-2B 0.00 0.00 $ 958,691.33 0.00 $ 958,691.33
B 0.00 0.00 $ 95,260.83 0.00 $ 95,260.83
C 0.00 0.00 $ 203,794.50 0.00 $ 203,794.50
D 0.00 0.00 $ 125,411.00 0.00 $ 125,411.00
E 0.00 0.00 $ 108,326.17 0.00 $ 108,326.17
F 0.00 0.00 $ 46,424.58 0.00 $ 46,424.58
G 0.00 0.00 $ 193,997.38 0.00 $ 193,997.38
H 0.00 0.00 $ 85,918.00 0.00 $ 85,918.00
J 0.00 0.00 $ 17,180.75 0.00 $ 17,180.75
K 0.00 0.00 $ 63,027.09 0.00 $ 63,027.09
R-II 0.00 0.00 0.00 0.00 $ 0.00
TOTAL $473,030.04 $0.00 $3,400,463.43 0.00 $3,873,493.47
- ----------
(*) Based on a Notional Balance
(3) for complete information see Payment Detail
DISCLAIMER NOTICE
-----------------
Notice: This report has been prepared by or based on information
furnished to State Street Bank and Trust Company (State Street)by one or more
third parties (e.g., Servicer, Master Servicer, etc.). State Steeet shall not
have and does not undertake responsibility for the accuracy or completeness of
information provided by such third parties, and makes no representation or
warranty with respect to the accuracy or completeness thereof or the sufficiency
thereof for any particular purpose. State Street has not independently verified
information received from third parties, and shall have no liability for any
inaccuracies therein or caused thereby.
Page 1 of 9
<PAGE>
Corporate Trust Department
Securities Administration
Report to Certificaholders
Mortgage Capital Funding, Inc.,
Multifamily/Commercial Mortgage-Pass-Through Certificates,
Series 1996-MC1
Payment Date: August 15, 1996
- --------------------------------------------------------------------------------
PRINCIPAL DISTRIBUTION DETAIL
- --------------------------------------------------------------------------------
PRINCIPAL
DISTRIBUTION PRINCIPAL NET
CLASS AMOUNT SHORTFALL DISTRIBUTION
- ----- ------------ --------- ------------
X-1(*) 0.00 0.00 0.00
X-2(*) 0.00 0.00 0.00
A-1 $ 25,399.00 0.00 $ 25,399.00
A-2A $447,631.04 0.00 $447,631.04
A-2B 0.00 0.00 0.00
B 0.00 0.00 0.00
C 0.00 0.00 0.00
D 0.00 0.00 0.00
E 0.00 0.00 0.00
F 0.00 0.00 0.00
G 0.00 0.00 0.00
H 0.00 0.00 0.00
J 0.00 0.00 0.00
K 0.00 0.00 0.00
R-II 0.00 0.00 0.00
TOTAL $473,030.04 0.00 $473,030.04
- ----------
(*) based on a Notional Balance
Page 2 of 9
<PAGE>
Corporate Trust Department
Securities Administration
Report to Certificaholders
Mortgage Capital Funding, Inc.,
Multifamily/Commercial Mortgage-Pass-Through Certificates,
Series 1996-MC1
Payment Date: August 15, 1996
- --------------------------------------------------------------------------------
INTEREST DISTRIBUTION DETAIL
- --------------------------------------------------------------------------------
CURRENT PRIOR ACCRUED
UNPAID UNPAID
ACCRUED DISTRIBUTABLE DISTRIBUTABLE
CERTIFICATE CERTIFICATE CERTIFICATE PREPAYMENT
CLASS INTEREST INTEREST INTEREST PREMIUMS
- ----- ----------- ------------- ------------- ----------
X-1(*) $ 19,876.08 0.00 0.00 0.00
X-2(*) $ 385,500.36 0.00 0.00 0.00
A-1 $ 178,303.36 0.00 0.00 0.00
A-2A $ 913,750.00 0.00 0.00 0.00
A-2B $ 958,691.33 0.00 0.00 0.00
B $ 95,260.83 0.00 0.00 0.00
C $ 203,794.50 0.00 0.00 0.00
D $ 125,411.00 0.00 0.00 0.00
E $ 108,326.17 0.00 0.00 0.00
F $ 46,424.58 0.00 0.00 0.00
G $ 193,997.38 0.00 0.00 0.00
H $ 85,918.00 0.00 0.00 0.00
J $ 17,180.75 0.00 0.00 0.00
K $ 63,027.09 0.00 0.00 0.00
R-II 0.00 0.00 0.00 0.00
TOTAL $3,400,463.43 0.00 0.00 0.00
NET
PREPAYMENT PREPAYMENT DISTRIBUTABLE
INTEREST INTEREST ADDITIONAL CERTIFICATE
CLASS EXCESSES SHORTFALLS ADJUSTMENTS INTEREST
- ----- ---------- ---------- ----------- -------------
X-1(*) 0.00 0.00 0.00 $ 19,876.08
X-2(*) 0.00 0.00 0.00 $ 385,500.36
A-1 0.00 0.00 0.00 $ 178,303.36
A-2A 0.00 0.00 0.00 $ 913,750.00
A-2B 0.00 0.00 0.00 $ 958,691.33
B 0.00 0.00 0.00 $ 95,260.83
C 0.00 0.00 0.00 $ 203,794.50
D 0.00 0.00 0.00 $ 125,411.00
E 0.00 0.00 0.00 $ 108,326.17
F 0.00 0.00 0.00 $ 46,424.58
G 0.00 0.00 0.00 $ 193,997.38
H 0.00 0.00 0.00 $ 85,918.00
J 0.00 0.00 0.00 $ 17,180.75
K 0.00 0.00 0.00 $ 63,027.09
R-II 0.00 0.00 0.00 $ 0.00
TOTAL 0.00 0.00 0.00 $3,400,463.43
- ----------
(*) based on a Notional Balance
Page 3 of 9
<PAGE>
Corporate Trust Department
Securities Administration
Report to Certificaholders
Mortgage Capital Funding, Inc.,
Multifamily/Commercial Mortgage-Pass-Through Certificates,
Series 1996-MC1
Payment Date: August 15, 1996
- --------------------------------------------------------------------------------
PRINCIPAL DISTRIBUTION PER CERTIFICATE
- --------------------------------------------------------------------------------
PRINCIPAL
DISTRIBUTION PRINCIPAL NET
CLASS AMOUNT SHORTFALL DISTRIBUTION
- ----- ------------ --------- ------------
X-1(*) 0.00000 0.00000 0.00000
X-2(*) 0.00000 0.00000 0.00000
A-1 0.84757 0.00000 0.84757
A-2A 2.98421 0.00000 2.98421
A-2B 0.00000 0.00000 0.00000
B 0.00000 0.00000 0.00000
C 0.00000 0.00000 0.00000
D 0.00000 0.00000 0.00000
E 0.00000 0.00000 0.00000
F 0.00000 0.00000 0.00000
G 0.00000 0.00000 0.00000
H 0.00000 0.00000 0.00000
J 0.00000 0.00000 0.00000
K 0.00000 0.00000 0.00000
R-II 0.00000 0.00000 0.00000
- ----------
(*) based on a Notional Balance
Page 4 of 9
<PAGE>
Corporate Trust Department
Securities Administration
Report to Certificaholders
Mortgage Capital Funding, Inc.,
Multifamily/Commercial Mortgage-Pass-Through Certificates,
Series 1996-MC1
Payment Date: August 15, 1996
- --------------------------------------------------------------------------------
INTEREST DISTRIBUTION PER CERTIFICATE
- --------------------------------------------------------------------------------
CURRENT PRIOR ACCRUED
UNPAID UNPAID
ACCRUED DISTRIBUTABLE DISTRIBUTABLE
CERTIFICATE CERTIFICATE CERTIFICATE PREPAYMENT
CLASS INTEREST INTEREST INTEREST PREMIUMS
- ----- -------- ------------- ------------- --------
X-1(*) 0.66333 0.00000 0.00000 0.00000
X-2(*) 0.80000 0.00000 0.00000 0.00000
A-1 5.95000 0.00000 0.00000 0.00000
A-2A 6.12500 0.00000 0.00000 0.00000
A-2B 6.58333 0.00000 0.00000 0.00000
B 6.58333 0.00000 0.00000 0.00000
C 6.50000 0.00000 0.00000 0.00000
D 6.50000 0.00000 0.00000 0.00000
E 6.41667 0.00000 0.00000 0.00000
F 6.41667 0.00000 0.00000 0.00000
G 5.95833 0.00000 0.00000 0.00000
H 4.75000 0.00000 0.00000 0.00000
J 4.75000 0.00000 0.00000 0.00000
K 4.75000 0.00000 0.00000 0.00000
R-II 0.00000 0.00000 0.00000 0.00000
NET
PREPAYMENT PREPAYMENT DISTRIBUTABLE
INTEREST INTEREST ADDITIONAL CERTIFICATE
CLASS EXCESSES SHORTFALLS ADJUSTMENTS INTEREST
- ----- ---------- ---------- ----------- -------------
X-1(*) 0.00000 0.00000 0.00000 0.66333
X-2(*) 0.00000 0.00000 0.00000 0.80000
A-1 0.00000 0.00000 0.00000 5.95000
A-2A 0.00000 0.00000 0.00000 6.12500
A-2B 0.00000 0.00000 0.00000 6.58333
B 0.00000 0.00000 0.00000 6.58333
C 0.00000 0.00000 0.00000 6.50000
D 0.00000 0.00000 0.00000 6.50000
E 0.00000 0.00000 0.00000 6.41667
F 0.00000 0.00000 0.00000 6.41667
G 0.00000 0.00000 0.00000 5.95833
H 0.00000 0.00000 0.00000 4.75000
J 0.00000 0.00000 0.00000 4.75000
K 0.00000 0.00000 0.00000 4.75000
R-II 0.00000 0.00000 0.00000 0.00000
- ----------
(*) based on a Notional Balance
Page 5 of 9
<PAGE>
Corporate Trust Department
Securities Administration
Report to Certificaholders
Mortgage Capital Funding, Inc.,
Multifamily/Commercial Mortgage-Pass-Through Certificates,
Series 1996-MC1
Payment Date: August 15, 1996
- --------------------------------------------------------------------------------
CLASS BALANCES
- --------------------------------------------------------------------------------
ADDITIONAL
BEGINNING REALIZED TRUST FUND ENDING
CLASS BALANCE PRINCIPAL LOSSES EXPENSES BALANCE
- ------ --------------- ----------- -------- ---------- ---------------
X-1(*) $ 29,966,951.00 0.00 0.00 0.00 $ 29,941,405.71
X-2(*) $481,875,454.00 0.00 0.00 0.00 $481,404,552.00
A-1 $ 29,966,951.00 $ 25,399.00 0.00 0.00 $ 29,941,552.00
A-2A $150,000,000.00 $447,631.04 0.00 0.00 $149,552,368.96
A-2B $145,624,000.00 0.00 0.00 0.00 $145,624,000.00
B $ 14,470,000.00 0.00 0.00 0.00 $ 14,470,000.00
C $ 31,353,000.00 0.00 0.00 0.00 $ 31,353,000.00
D $ 19,294,000.00 0.00 0.00 0.00 $ 19,294,000.00
E $ 16,882,000.00 0.00 0.00 0.00 $ 16,882,000.00
F $ 7,235,000.00 0.00 0.00 0.00 $ 7,235,000.00
G $ 32,559,000.00 0.00 0.00 0.00 $ 32,559,000.00
H $ 18,088,000.00 0.00 0.00 0.00 $ 18,088,000.00
J $ 3,617,000.00 0.00 0.00 0.00 $ 3,617,000.00
K $ 13,268,861.00 0.00 0.00 0.00 $ 13,268,861.00
R-II 0.00 0.00 0.00 0.00 0.00
TOTAL $482,357,812.00 $473,030.04 0.00 0.00 $481,884,781.96
- ----------
(*) Based on a Notional Balance
Page 6 of 9
<PAGE>
Corporate Trust Department
Securities Administration
Report to Certificaholders
Mortgage Capital Funding, Inc.,
Multifamily/Commercial Mortgage-Pass-Through Certificates,
Series 1996-MC1
Payment Date: August 15, 1996
- --------------------------------------------------------------------------------
DELINQUENCY AND SPECIALLY SERVICED STATISTICS
- --------------------------------------------------------------------------------
ONE TWO THREE+ SPECIALLY
MONTH MONTHS MONTHS SERVICED FORECLOSURES
- --------------------------------------------------------------------------------
Number in Loan Group 1 0 0 0 0 0
Unpaid Principal Balance 0.00 0.00 0.00 0.00 0.00
Number in Loan Group 2 0 0 0 0 0
Unpaid Principal Balance 0.00 0.00 0.00 0.00 0.00
Number in Mortgage Pool 0 0 0 0 0
Unpaid Principal Balance 0.00 0.00 0.00 0.00 0.00
- --------------------------------------------------------------------------------
PROPERITIES WHICH BECAME REO PROPERTIES DURING THE RELATED COLLECTION PERIOD
- --------------------------------------------------------------------------------
ONE TWO THREE+ SPECIALLY
MONTH MONTHS MONTHS SERVICED FORECLOSURES
- --------------------------------------------------------------------------------
Stated Principal Balance 0.00 0.00 0.00 0.00 0.00
Unpaid Principal Balance 0.00 0.00 0.00 0.00 0.00
- --------------------------------------------------------------------------------
- --------------------------------------------------------------------------------
MORTGAGE LOANS REPURCHASED, LIQUIDATED OR DISPOSED OF DURING THE RELATED
COLLATERAL PERIOD
- --------------------------------------------------------------------------------
ONE TWO THREE+ SPECIALLY
MONTH MONTHS MONTHS SERVICED FORECLOSURES
- --------------------------------------------------------------------------------
Loan Number 0 0 0 0 0
Liquidation Proceeds 0.00 0.00 0.00 0.00 0.00
Portion in Available
Distribution Amount 0.00 0.00 0.00 0.00 0.00
- --------------------------------------------------------------------------------
- --------------------------------------------------------------------------------
REO PROPERTIES INCLUDED IN THE TRUST FUND AS OF THE LAST DAY OF THE COLLECTION
PERIOD
- --------------------------------------------------------------------------------
ONE TWO THREE+ SPECIALLY
MONTH MONTHS MONTHS SERVICED FORECLOSURES
- --------------------------------------------------------------------------------
Loan Number 0 0 0 0 0
Book Value 0.00 0.00 0.00 0.00 0.00
Income Collected 0.00 0.00 0.00 0.00 0.00
Portion in Available
Distribution Amount 0.00 0.00 0.00 0.00 0.00
- --------------------------------------------------------------------------------
REO PROPERTIES SOLD OR DISPOSED OF DURING THE RELATED COLLECTION PERIOD
- --------------------------------------------------------------------------------
ONE TWO THREE+ SPECIALLY
MONTH MONTHS MONTHS SERVICED FORECLOSURES
- --------------------------------------------------------------------------------
Loan Number 0 0 0 0 0
Liquidation Proceeds 0.00 0.00 0.00 0.00 0.00
Portion in Available
Distribution Amount 0.00 0.00 0.00 0.00 0.00
Final Recovery
Determination 0.00 0.00 0.00 0.00 0.00
- --------------------------------------------------------------------------------
- --------------------------------------------------------------------------------
PRINCIPAL PREPAYMENTS, PREPAYMENT INTEREST EXCESSES, PREPAYMENT INTEREST
SHORTFALLS
- --------------------------------------------------------------------------------
LOAN LOAN
GROUP1 GROUP2
- --------------------------------------------------------------------------------
Principal Prepayments 0.00 0.00
Prepayment Interest Excesses 0.00 0.00
Prepayment Interest Shortfalls 0.00 0.00
- --------------------------------------------------------------------------------
Page 7 of 9
<PAGE>
Corporate Trust Department
Securities Administration
Report to Certificaholders
Mortgage Capital Funding, Inc.,
Multifamily/Commercial Mortgage-Pass-Through Certificates,
Series 1996-MC1
Payment Date: August 15, 1996
- --------------------------------------------------------------------------------
OTHER INFORMATION
- --------------------------------------------------------------------------------
Aggregate Incurred Realized Losses $ 0.00
Aggregate Incurred Additional Trust Fund Expenses $ 0.00
Aggregate Servicing Compensation $87,120.45
Master Servicer Compensation $85,110.62
Special Servicer Compensation $ 2,009.83
Aggregate P & I Advances Outstanding on the prior
Distribution Date for:
the Master Servicer 0.00
the Special Servicer 0.00
the Trustee 0.00
Aggregate Appraisal Reduction Amount 0.00
- --------------------------------------------------------------------------------
APPRAISAL REDUCTION AMOUNTS
- --------------------------------------------------------------------------------
Loan Number 0 0 0 0
- --------------------------------------------------------------------------------
Appraisal Reduction Amount 0.00 0.00 0.00 0.00
- --------------------------------------------------------------------------------
- --------------------------------------------------------------------------------
AGGREGATE AMOUNT OF BALLOON PAYMENT INTEREST EXCESSESS AND SHORTFALLS
- --------------------------------------------------------------------------------
LOAN LOAN
GROUP1 GROUP2
- --------------------------------------------------------------------------------
Balloon Payment Interest Excesses 0.00 0.00
Balloon Payment Interest Shortfalls 0.00 0.00
- --------------------------------------------------------------------------------
<TABLE>
<CAPTION>
- ------------------------------------------------------------------------------------------------------------------
AGGREGATE COLLATERAL INFORMATION
- ------------------------------------------------------------------------------------------------------------------
LOAN LOAN MORTGAGE
GROUP1 GROUP2 POOL
--------------- --------------- ---------------
<S> <C> <C> <C>
Number of Outstanding Mortgage Loans 8 168 176
Stated Principal Balance of Mortgage Loans before Distribution $ 29,966,804.56 $452,392,663.44 $482,359,468.00
Stated Principal Balance of Mortgage Loans after Distribution $ 29,941,405.56 $451,945,032.40 $481,886,437.96
% of Cut-Off-Date Balance Outstanding after Distribution 99.92% 99.90% 99.90%
</TABLE>
Page 8 of 9
<PAGE>
Corporate Trust Department
Securities Administration
Report to Certificaholders
Mortgage Capital Funding, Inc.,
Multifamily/Commercial Mortgage-Pass-Through Certificates,
Series 1996-MC1
Payment Date: August 15, 1996
- --------------------------------------------------------------------------------
OTHER INFORMATION
- --------------------------------------------------------------------------------
ASER Loan/Aggregate Information and SER Information:
* Please see annex A on the State Street Bank and Trust Company's Tradewinds
Bulletin Board Dial 617/664-5380
Page 9 of 9
Corporate Trust Department
Securities Administration
Report to Certificaholders
- --------------------------------------------------------------------------------
CONTENTS
- --------------------------------------------------------------------------------
CONTENT PAGE NUMBER
------- -----------
QUICK REFERENCE ...............I FACTOR SHEET ..................... 4&5
FOR EASY ISSUE AND FACTOR FOR DETAILED INFORMATION
INFORMATION
PAYMENT SUMMARY ...............1 BALANCE INFORMATION .............. 6
FOR SECURITY AND COLLATERAL
BALANCE INFORMATION
PAYMENT DETAIL ................2&3 DELINQUENCY AND OTHER ............ 7
INFORMATION
- --------------------------------------------------------------------------------
Mortgage Capital Funding, Inc.,
Multifamily/Commercial Mortgage-Pass-Through Certificates,
Series 1996-MC1
Payment Date: September 16, 1996
- --------------------------------------------------------------------------------
QUICK REFERENCE
- --------------------------------------------------------------------------------
BEGINNING PASS
CERTIFICATE THROUGH INTEREST PRINCIPAL
CLASS CUSIP FACTOR RATE TYPE DISTRIBUTION(1)
- ----- ----- ----------- ------- -------- ---------------
X-1(*) 61910DBE1 0.99814 1.80723% Variable 0.00000
X-2(*) 61910DBF8 0.99902 0.96015% Variable 0.00000
A-1 61910DBG6 0.99915 6.12000% Variable 0.86334
A-2A 61910DBH4 0.99702 7.35000% Fixed 3.00591
A-2B 61910DBJ0 1.00000 7.90000% Fixed 0.00000
B 61910DBK7 1.00000 7.90000% Fixed 0.00000
C 61910DBL5 1.00000 7.80000% Fixed 0.00000
D 61910DBM3 1.00000 7.80000% Fixed 0.00000
E 61910DBN1 1.00000 7.70000% Fixed 0.00000
F 61910DBP6 1.00000 7.70000% Fixed 0.00000
G 61910DBQ4 1.00000 7.15000% Fixed 0.00000
H 61910DBR2 1.00000 5.70000% Fixed 0.00000
J 61910DBS0 1.00000 5.70000% Fixed 0.00000
K 61910DBT8 1.00000 5.70000% Fixed 0.00000
R-II N/A 0.00000 0.00000% N/A 0.00000
ENDING
INTEREST CERTIFICATE
CLASS DISTRIBUTION(1) FACTOR
- ----- -------------- -----------
X-1(*) 1.50474 0.99829
X-2(*) 0.79934 0.99804
A-1 5.09934 0.99830
A-2A 6.10672 0.99401
A-2B 6.58333 1.00000
B 6.58333 1.00000
C 6.50000 1.00000
D 6.50000 1.00000
E 6.41667 1.00000
F 6.41667 1.00000
G 5.95833 1.00000
H 4.75000 1.00000
J 4.75000 1.00000
K 4.75000 1.00000
R-II 395.15000 0.00000
- ----------
(1) represents net payment per certificate
(*) Based on a Notional Balance
NOTE: There are no Principal Adjustments or Losses to report this period. There
is no Negative Amortization to report this period.
Account Administrator: William T. Oberlies, Ph. (617)664-5420
Account Officer: William G. Swan, Ph. (617) 664-5469
Street Connection: for Factor & Rate by CUSIP, Ph. (617) 664-5500
<PAGE>
Corporate Trust Department
Securities Administration
Report to Certificaholders
Mortgage Capital Funding, Inc.,
Multifamily/Commercial Mortgage-Pass-Through Certificates,
Series 1996-MC1
Payment Date: September 16, 1996
- --------------------------------------------------------------------------------
PAYMENT SUMMARY
- --------------------------------------------------------------------------------
PRINCIPAL
DISTRIBUTION PRINCIPAL ACCRUED INTEREST TOTAL
CLASS AMOUNT ADJUSTMENTS INTEREST ADJUSTMENTS(3) PAYABLE
- ------ ------------ ----------- ------------- -------------- -------------
X-1(*) 0.00 0.00 $ 45,092.40 0.00 $ 45,092.40
X-2(*) 0.00 0.00 $ 385,183.51 0.00 $ 385,183.51
A-1 $ 25,572.10 0.00 $ 152,701.92 0.00 $ 178,274.02
A-2A $450,888.13 0.00 $ 916,008.26 0.00 $1,366,894.39
A-2B 0.00 0.00 $ 958,691.33 0.00 $ 958,691.33
B 0.00 0.00 $ 95,260.83 0.00 $ 95,260.83
C 0.00 0.00 $ 203,794.50 0.00 $ 203,794.50
D 0.00 0.00 $ 125,411.00 0.00 $ 125,411.00
E 0.00 0.00 $ 108,326.17 0.00 $ 108,326.17
F 0.00 0.00 $ 46,424.58 0.00 $ 46,424.58
G 0.00 0.00 $ 193,997.38 0.00 $ 193,997.38
H 0.00 0.00 $ 85,918.00 0.00 $ 85,918.00
J 0.00 0.00 $ 17,180.75 0.00 $ 17,180.75
K 0.00 0.00 $ 63,027.09 0.00 $ 63,027.09
R-II 0.00 0.00 0.00 $396.15 $ 396.15
TOTAL $476,458.23 $0.00 $3,397,017.72 $396.15 $3,873,872.10
- ----------
(*) Based on a Notional Balance
(3) for complete information see Payment Detail
DISCLAIMER NOTICE
-----------------
Notice: This report has been prepared by or based on information
furnished to State Street Bank and Trust Company (State Street)by one or more
third parties (e.g., Servicer, Master Servicer, etc.). State Steeet shall not
have and does not undertake responsibility for the accuracy or completeness of
information provided by such third parties, and makes no representation or
warranty with respect to the accuracy or completeness thereof or the sufficiency
thereof for any particular purpose. State Street has not independently verified
information received from third parties, and shall have no liability for any
inaccuracies therein or caused thereby.
Page 1 of 9
<PAGE>
Corporate Trust Department
Securities Administration
Report to Certificaholders
Mortgage Capital Funding, Inc.,
Multifamily/Commercial Mortgage-Pass-Through Certificates,
Series 1996-MC1
Payment Date: September 16, 1996
- --------------------------------------------------------------------------------
PRINCIPAL DISTRIBUTION DETAIL
- --------------------------------------------------------------------------------
PRINCIPAL
DISTRIBUTION PRINCIPAL NET
CLASS AMOUNT SHORTFALL DISTRIBUTION
- ----- ------------ --------- ------------
X-1(*) 0.00 0.00 0.00
X-2(*) 0.00 0.00 0.00
A-1 $ 25,572.10 0.00 $ 25,572.10
A-2A $450,886.13 0.00 $450,886.13
A-2B 0.00 0.00 0.00
B 0.00 0.00 0.00
C 0.00 0.00 0.00
D 0.00 0.00 0.00
E 0.00 0.00 0.00
F 0.00 0.00 0.00
G 0.00 0.00 0.00
H 0.00 0.00 0.00
J 0.00 0.00 0.00
K 0.00 0.00 0.00
R-II 0.00 0.00 0.00
TOTAL $476,458.23 0.00 $476,458.23
- ----------
(*) based on a Notional Balance
Page 2 of 9
<PAGE>
Corporate Trust Department
Securities Administration
Report to Certificaholders
Mortgage Capital Funding, Inc.,
Multifamily/Commercial Mortgage-Pass-Through Certificates,
Series 1996-MC1
Payment Date: September 16, 1996
- --------------------------------------------------------------------------------
INTEREST DISTRIBUTION DETAIL
- --------------------------------------------------------------------------------
CURRENT PRIOR ACCRUED
UNPAID UNPAID
ACCRUED DISTRIBUTABLE DISTRIBUTABLE
CERTIFICATE CERTIFICATE CERTIFICATE PREPAYMENT
CLASS INTEREST INTEREST INTEREST PREMIUMS
- ----- ----------- ------------- ------------- ----------
X-1(*) $ 45,092.40 0.00 0.00 0.00
X-2(*) $ 385,183.51 0.00 0.00 0.00
A-1 $ 152,701.92 0.00 0.00 0.00
A-2A $ 916,008.26 0.00 0.00 0.00
A-2B $ 958,691.33 0.00 0.00 0.00
B $ 95,260.83 0.00 0.00 0.00
C $ 203,794.50 0.00 0.00 0.00
D $ 125,411.00 0.00 0.00 0.00
E $ 108,326.17 0.00 0.00 0.00
F $ 46,424.58 0.00 0.00 0.00
G $ 193,997.38 0.00 0.00 0.00
H $ 85,918.00 0.00 0.00 0.00
J $ 17,180.75 0.00 0.00 0.00
K $ 63,027.09 0.00 0.00 0.00
R-II 0.00 0.00 0.00 0.00
TOTAL $3,397,017.72 0.00 0.00 0.00
NET
PREPAYMENT PREPAYMENT DISTRIBUTABLE
INTEREST INTEREST ADDITIONAL CERTIFICATE
CLASS EXCESSES SHORTFALLS ADJUSTMENTS INTEREST
- ----- ---------- ---------- ----------- -------------
X-1(*) 0.00 0.00 0.00 $ 45,092.40
X-2(*) 0.00 0.00 0.00 $ 385,183.51
A-1 0.00 0.00 0.00 $ 152,701.92
A-2A 0.00 0.00 0.00 $ 916,008.26
A-2B 0.00 0.00 0.00 $ 958,691.33
B 0.00 0.00 0.00 $ 95,260.83
C 0.00 0.00 0.00 $ 203,794.50
D 0.00 0.00 0.00 $ 125,411.00
E 0.00 0.00 0.00 $ 108,326.17
F 0.00 0.00 0.00 $ 46,424.58
G 0.00 0.00 0.00 $ 193,997.38
H 0.00 0.00 0.00 $ 85,918.00
J 0.00 0.00 0.00 $ 17,180.75
K 0.00 0.00 0.00 $ 63,027.09
R-II 0.00 0.00 $396.15 $ 396.15
TOTAL 0.00 0.00 $396.15 $3,397,413.87
- ----------
(*) based on a Notional Balance
Page 3 of 9
<PAGE>
Corporate Trust Department
Securities Administration
Report to Certificaholders
Mortgage Capital Funding, Inc.,
Multifamily/Commercial Mortgage-Pass-Through Certificates,
Series 1996-MC1
Payment Date: September 16, 1996
- --------------------------------------------------------------------------------
PRINCIPAL DISTRIBUTION PER CERTIFICATE
- --------------------------------------------------------------------------------
PRINCIPAL
DISTRIBUTION PRINCIPAL NET
CLASS AMOUNT SHORTFALL DISTRIBUTION
- ----- ------------ --------- ------------
X-1(*) 0.00000 0.00000 0.00000
X-2(*) 0.00000 0.00000 0.00000
A-1 0.85334 0.00000 0.85334
A-2A 3.00591 0.00000 3.00591
A-2B 0.00000 0.00000 0.00000
B 0.00000 0.00000 0.00000
C 0.00000 0.00000 0.00000
D 0.00000 0.00000 0.00000
E 0.00000 0.00000 0.00000
F 0.00000 0.00000 0.00000
G 0.00000 0.00000 0.00000
H 0.00000 0.00000 0.00000
J 0.00000 0.00000 0.00000
K 0.00000 0.00000 0.00000
R-II 0.00000 0.00000 0.00000
- ----------
(*) based on a Notional Balance
Page 4 of 9
<PAGE>
Corporate Trust Department
Securities Administration
Report to Certificaholders
Mortgage Capital Funding, Inc.,
Multifamily/Commercial Mortgage-Pass-Through Certificates,
Series 1996-MC1
Payment Date: September 16, 1996
- --------------------------------------------------------------------------------
INTEREST DISTRIBUTION PER CERTIFICATE
- --------------------------------------------------------------------------------
CURRENT PRIOR ACCRUED
UNPAID UNPAID
ACCRUED DISTRIBUTABLE DISTRIBUTABLE
CERTIFICATE CERTIFICATE CERTIFICATE PREPAYMENT
CLASS INTEREST INTEREST INTEREST PREMIUMS
- ----- -------- ------------- ------------- --------
X-1(*) 1.50474 0.00000 0.00000 0.00000
X-2(*) 0.79934 0.00000 0.00000 0.00000
A-1 5.09566 0.00000 0.00000 0.00000
A-2A 6.10672 0.00000 0.00000 0.00000
A-2B 6.58333 0.00000 0.00000 0.00000
B 6.58333 0.00000 0.00000 0.00000
C 6.50000 0.00000 0.00000 0.00000
D 6.50000 0.00000 0.00000 0.00000
E 6.41667 0.00000 0.00000 0.00000
F 6.41667 0.00000 0.00000 0.00000
G 5.95833 0.00000 0.00000 0.00000
H 4.75000 0.00000 0.00000 0.00000
J 4.75000 0.00000 0.00000 0.00000
K 4.75000 0.00000 0.00000 0.00000
R-II 0.00000 0.00000 0.00000 0.00000
NET
PREPAYMENT PREPAYMENT DISTRIBUTABLE
INTEREST INTEREST ADDITIONAL CERTIFICATE
CLASS EXCESSES SHORTFALLS ADJUSTMENTS INTEREST
- ----- ---------- ---------- ----------- -------------
X-1(*) 0.00000 0.00000 0.00000 1.50474
X-2(*) 0.00000 0.00000 0.00000 0.79934
A-1 0.00000 0.00000 0.00000 5.09568
A-2A 0.00000 0.00000 0.00000 6.10672
A-2B 0.00000 0.00000 0.00000 6.58333
B 0.00000 0.00000 0.00000 6.58333
C 0.00000 0.00000 0.00000 6.50000
D 0.00000 0.00000 0.00000 6.50000
E 0.00000 0.00000 0.00000 6.41667
F 0.00000 0.00000 0.00000 6.41667
G 0.00000 0.00000 0.00000 5.95833
H 0.00000 0.00000 0.00000 4.75000
J 0.00000 0.00000 0.00000 4.75000
K 0.00000 0.00000 0.00000 4.75000
R-II 0.00000 0.00000 396.15000 396.15000
- ----------
(*) based on a Notional Balance
Page 5 of 9
<PAGE>
Corporate Trust Department
Securities Administration
Report to Certificaholders
Mortgage Capital Funding, Inc.,
Multifamily/Commercial Mortgage-Pass-Through Certificates,
Series 1996-MC1
Payment Date: September 16, 1996
- --------------------------------------------------------------------------------
CLASS BALANCES
- --------------------------------------------------------------------------------
ADDITIONAL
BEGINNING REALIZED TRUST FUND ENDING
CLASS BALANCE PRINCIPAL LOSSES EXPENSES BALANCE
- ------ --------------- ----------- -------- ---------- ---------------
X-1(*) $ 29,941,259.26 0.00 0.00 0.00 $ 29,915,833.45
X-2(*) $481,404,405.23 0.00 0.00 0.00 $480,928,570.00
A-1 $ 29,941,552.00 $ 25,572.10 0.00 0.00 $ 29,915,979.90
A-2A $149,552,368.96 $450,886.13 0.00 0.00 $149,101,482.83
A-2B $145,624,000.00 0.00 0.00 0.00 $145,624,000.00
B $ 14,470,000.00 0.00 0.00 0.00 $ 14,470,000.00
C $ 31,353,000.00 0.00 0.00 0.00 $ 31,353,000.00
D $ 19,294,000.00 0.00 0.00 0.00 $ 19,294,000.00
E $ 16,882,000.00 0.00 0.00 0.00 $ 16,882,000.00
F $ 7,235,000.00 0.00 0.00 0.00 $ 7,235,000.00
G $ 32,559,000.00 0.00 0.00 0.00 $ 32,559,000.00
H $ 18,088,000.00 0.00 0.00 0.00 $ 18,088,000.00
J $ 3,617,000.00 0.00 0.00 0.00 $ 3,617,000.00
K $ 13,268,861.00 0.00 0.00 0.00 $ 13,268,861.00
R-II 0.00 0.00 0.00 0.00 0.00
TOTAL $482,884,781.96 $476,458.23 0.00 0.00 $481,408,323.73
- ----------
(*) Based on a Notional Balance
Page 6 of 9
<PAGE>
Corporate Trust Department
Securities Administration
Report to Certificaholders
Mortgage Capital Funding, Inc.,
Multifamily/Commercial Mortgage-Pass-Through Certificates,
Series 1996-MC1
Payment Date: September 16, 1996
- --------------------------------------------------------------------------------
DELINQUENCY AND SPECIALLY SERVICED STATISTICS
- --------------------------------------------------------------------------------
ONE TWO THREE+ SPECIALLY
MONTH MONTHS MONTHS SERVICED FORECLOSURES
- --------------------------------------------------------------------------------
Number in Loan Group 1 0 0 0 0 0
Unpaid Principal Balance 0.00 0.00 0.00 0.00 0.00
Number in Loan Group 2 0 0 0 0 0
Unpaid Principal Balance 0.00 0.00 0.00 0.00 0.00
Number in Mortgage Pool 0 0 0 0 0
Unpaid Principal Balance 0.00 0.00 0.00 0.00 0.00
- --------------------------------------------------------------------------------
PROPERITIES WHICH BECAME REO PROPERTIES DURING THE RELATED COLLECTION PERIOD
- --------------------------------------------------------------------------------
ONE TWO THREE+ SPECIALLY
MONTH MONTHS MONTHS SERVICED FORECLOSURES
- --------------------------------------------------------------------------------
Stated Principal Balance 0.00 0.00 0.00 0.00 0.00
Unpaid Principal Balance 0.00 0.00 0.00 0.00 0.00
- --------------------------------------------------------------------------------
- --------------------------------------------------------------------------------
MORTGAGE LOANS REPURCHASED, LIQUIDATED OR DISPOSED OF DURING THE RELATED
COLLATERAL PERIOD
- --------------------------------------------------------------------------------
ONE TWO THREE+ SPECIALLY
MONTH MONTHS MONTHS SERVICED FORECLOSURES
- --------------------------------------------------------------------------------
Loan Number 0 0 0 0 0
Liquidation Proceeds 0.00 0.00 0.00 0.00 0.00
Portion in Available
Distribution Amount 0.00 0.00 0.00 0.00 0.00
- --------------------------------------------------------------------------------
- --------------------------------------------------------------------------------
REO PROPERTIES INCLUDED IN THE TRUST FUND AS OF THE LAST DAY OF THE COLLECTION
PERIOD
- --------------------------------------------------------------------------------
ONE TWO THREE+ SPECIALLY
MONTH MONTHS MONTHS SERVICED FORECLOSURES
- --------------------------------------------------------------------------------
Loan Number 0 0 0 0 0
Book Value 0.00 0.00 0.00 0.00 0.00
Income Collected 0.00 0.00 0.00 0.00 0.00
Portion in Available
Distribution Amount 0.00 0.00 0.00 0.00 0.00
- --------------------------------------------------------------------------------
REO PROPERTIES SOLD OR DISPOSED OF DURING THE RELATED COLLECTION PERIOD
- --------------------------------------------------------------------------------
ONE TWO THREE+ SPECIALLY
MONTH MONTHS MONTHS SERVICED FORECLOSURES
- --------------------------------------------------------------------------------
Loan Number 0 0 0 0 0
Liquidation Proceeds 0.00 0.00 0.00 0.00 0.00
Portion in Available
Distribution Amount 0.00 0.00 0.00 0.00 0.00
Final Recovery
Determination 0.00 0.00 0.00 0.00 0.00
- --------------------------------------------------------------------------------
- --------------------------------------------------------------------------------
PRINCIPAL PREPAYMENTS, PREPAYMENT INTEREST EXCESSES, PREPAYMENT INTEREST
SHORTFALLS
- --------------------------------------------------------------------------------
LOAN LOAN
GROUP1 GROUP2
- --------------------------------------------------------------------------------
Principal Prepayments 0.00 0.00
Prepayment Interest Excesses 0.00 0.00
Prepayment Interest Shortfalls 0.00 0.00
- --------------------------------------------------------------------------------
Page 7 of 9
<PAGE>
Corporate Trust Department
Securities Administration
Report to Certificaholders
Mortgage Capital Funding, Inc.,
Multifamily/Commercial Mortgage-Pass-Through Certificates,
Series 1996-MC1
Payment Date: September 16, 1996
- --------------------------------------------------------------------------------
OTHER INFORMATION
- --------------------------------------------------------------------------------
Aggregate Incurred Realized Losses $ 0.00
Aggregate Incurred Additional Trust Fund Expenses $ 0.00
Aggregate Servicing Compensation $87,029.12
Master Servicer Compensation $85,021.26
Special Servicer Compensation $ 2,007.86
Aggregate P & I Advances Outstanding on the prior
Distribution Date for:
the Master Servicer 0.00
the Special Servicer 0.00
the Trustee 0.00
Aggregate Appraisal Reduction Amount 0.00
- --------------------------------------------------------------------------------
APPRAISAL REDUCTION AMOUNTS
- --------------------------------------------------------------------------------
Loan Number 0 0 0 0
- --------------------------------------------------------------------------------
Appraisal Reduction Amount 0.00 0.00 0.00 0.00
- --------------------------------------------------------------------------------
- --------------------------------------------------------------------------------
AGGREGATE AMOUNT OF BALLOON PAYMENT INTEREST EXCESSESS AND SHORTFALLS
- --------------------------------------------------------------------------------
LOAN LOAN
GROUP1 GROUP2
- --------------------------------------------------------------------------------
Balloon Payment Interest Excesses 0.00 0.00
Balloon Payment Interest Shortfalls 0.00 0.00
- --------------------------------------------------------------------------------
<TABLE>
<CAPTION>
- ------------------------------------------------------------------------------------------------------------------
AGGREGATE COLLATERAL INFORMATION
- ------------------------------------------------------------------------------------------------------------------
LOAN LOAN MORTGAGE
GROUP1 GROUP2 POOL
--------------- --------------- ---------------
<S> <C> <C> <C>
Number of Outstanding Mortgage Loans 8 168 176
Stated Principal Balance of Mortgage Loans before Distribution $ 29,941,405.56 $451,945,032.37 $481,886,437.93
Stated Principal Balance of Mortgage Loans after Distribution $ 29,915,833.46 $451,494,146.24 $481,409,979.70
% of Cut-Off-Date Balance Outstanding after Distribution 99.83% 99.80% 99.80%
</TABLE>
Page 8 of 9
<PAGE>
Corporate Trust Department
Securities Administration
Report to Certificaholders
Mortgage Capital Funding, Inc.,
Multifamily/Commercial Mortgage-Pass-Through Certificates,
Series 1996-MC1
Payment Date: September 16, 1996
- --------------------------------------------------------------------------------
OTHER INFORMATION
- --------------------------------------------------------------------------------
ASER Loan/Aggregate Information and SER Information:
* Please see annex A on the State Street Bank and Trust Company's Tradewinds
Bulletin Board Dial 617/664-5380
Page 9 of 9
Corporate Trust Department
Securities Administration
Report to Certificaholders
- --------------------------------------------------------------------------------
CONTENTS
- --------------------------------------------------------------------------------
CONTENT PAGE NUMBER
------- -----------
QUICK REFERENCE ...............I FACTOR SHEET ..................... 4&5
FOR EASY ISSUE AND FACTOR FOR DETAILED INFORMATION
INFORMATION
PAYMENT SUMMARY ...............1 BALANCE INFORMATION .............. 6
FOR SECURITY AND COLLATERAL
BALANCE INFORMATION
PAYMENT DETAIL ................2&3 DELINQUENCY AND OTHER ............ 7
INFORMATION
- --------------------------------------------------------------------------------
Mortgage Capital Funding, Inc.,
Multifamily \ Commercial Mortgage-Pass-Through Certificates,
Series 1996-MC1
Payment Date: October 15, 1996
- --------------------------------------------------------------------------------
QUICK REFERENCE
- --------------------------------------------------------------------------------
BEGINNING PASS
CERTIFICATE THROUGH INTEREST PRINCIPAL
CLASS CUSIP FACTOR RATE TYPE DISTRIBUTION(1)
- ----- ----- ----------- ------- -------- ---------------
X-1(*) 61910DBE1 1.00000 1.80725% Variable 0.00000
X-2(*) 61910DBF8 0.99804 0.96003% Variable 0.00000
A-1 61910DBG6 0.99930 6.12000% Variable 0.85916
A-2A 61910DBH4 0.99401 7.35000% Fixed 3.02777
A-2B 61910DBJ0 1.00000 7.90000% Fixed 0.00000
B 61910DBK7 1.00000 7.90000% Fixed 0.00000
C 61910DBL5 1.00000 7.80000% Fixed 0.00000
D 61910DBM3 1.00000 7.80000% Fixed 0.00000
E 61910DBN1 1.00000 7.70000% Fixed 0.00000
F 61910DBP6 1.00000 7.70000% Fixed 0.00000
G 61910DBQ4 1.00000 7.15000% Fixed 0.00000
H 61910DBR2 1.00000 5.70000% Fixed 0.00000
J 61910DBS0 1.00000 5.70000% Fixed 0.00000
K 61910DBT8 1.00000 5.70000% Fixed 0.00000
R-II N/A 0.00000 0.00000% N/A 0.00000
ENDING
INTEREST CERTIFICATE
CLASS DISTRIBUTION(1) FACTOR
- ----- -------------- -----------
X-1(*) 1.50604 0.99914
X-2(*) 0.79846 0.99704
A-1 5.09133 0.99744
A-2A 6.08831 0.99098
A-2B 6.58333 1.00000
B 6.58333 1.00000
C 6.50000 1.00000
D 6.50000 1.00000
E 6.41667 1.00000
F 6.41667 1.00000
G 5.95833 1.00000
H 4.75000 1.00000
J 4.75000 1.00000
K 4.75000 1.00000
R-II 395.500 0.00000
- ----------
(1) represents net payment per certificate
(*) based on a Notional Balance
NOTE: There are no Principal Adjustments or Losses to report this period. There
is no Negative Amortization to report this period.
Account Administrator: William T. Oberlies, Ph. (617)664-5420
Account Officer: William G. Swan, Ph. (617) 664-5469
Street Connection: for Factor & Rate by CUSIP, Ph. (617) 664-5500
<PAGE>
Corporate Trust Department
Securities Administration
Report to Certificaholders
Mortgage Capital Funding, Inc.,
Multifamily \ Commercial Mortgage-Pass-Through Certificates,
Series 1996-MC1
Payment Date: October 15, 1996
- --------------------------------------------------------------------------------
PAYMENT SUMMARY
- --------------------------------------------------------------------------------
PRINCIPAL
DISTRIBUTION PRINCIPAL ACCRUED INTEREST TOTAL
CLASS AMOUNT ADJUSTMENTS INTEREST ADJUSTMENTS(2) PAYABLE
- ------ ------------ ----------- ------------- -------------- -------------
X-1(*) 0.00 0.00 $ 45,054.52 0.00 $ 45,054.52
X-2(*) 0.00 0.00 $ 384,755.92 0.00 $ 384,755.92
A-1 $ 25,746.37 0.00 $ 152,571.50 0.00 $ 178,317.87
A-2A $454,165.16 0.00 $ 913,246.58 0.00 $1,367,411.74
A-2B 0.00 0.00 $ 958,691.33 0.00 $ 958,691.33
B 0.00 0.00 $ 95,260.83 0.00 $ 95,260.83
C 0.00 0.00 $ 203,794.50 0.00 $ 203,794.50
D 0.00 0.00 $ 125,411.00 0.00 $ 125,411.00
E 0.00 0.00 $ 108,326.17 0.00 $ 108,326.17
F 0.00 0.00 $ 46,424.58 0.00 $ 46,424.58
G 0.00 0.00 $ 193,997.38 0.00 $ 193,997.38
H 0.00 0.00 $ 85,918.00 0.00 $ 85,918.00
J 0.00 0.00 $ 17,180.75 0.00 $ 17,180.75
K 0.00 0.00 $ 63,027.09 0.00 $ 63,027.09
R-II 0.00 0.00 0.00 $395.50 $ 395.50
TOTAL $479,911.53 $0.00 $3,393,660.15 $395.50 $3,873,967.18
- ----------
(2) for complete information see Payment Detail
(*) based on a Notional Balance
DISCLAIMER NOTICE
-----------------
Notice:This report has been prepared by or based on information furnished to
State Street Bank and Trust Company (State Street)by one or more third parties
(e.g., Servicer, Master Servicer, etc.). State Steeet shall not have and does
not undertake responsibility for the accuracy or completeness of information
provided by such third parties, and makes no representation or warranty with
respect to the accuracy or completeness thereof or the sufficiency thereof for
any particular purpose. State Street has not independently verified information
received from third parties, and shall have no liability for any inaccuracies
therein or caused thereby.
Page 1 of 9
<PAGE>
Corporate Trust Department
Securities Administration
Report to Certificaholders
Mortgage Capital Funding, Inc.,
Multifamily \ Commercial Mortgage-Pass-Through Certificates,
Series 1996-MC1
Payment Date: October 15, 1996
- --------------------------------------------------------------------------------
PRINCIPAL DISTRIBUTION DETAIL
- --------------------------------------------------------------------------------
PRINCIPAL
DISTRIBUTION PRINCIPAL NET
CLASS AMOUNT SHORTFALL DISTRIBUTION
- ----- ------------ --------- ------------
X-1(*) 0.00 0.00 0.00
X-2(*) 0.00 0.00 0.00
A-1 $ 25,746.37 0.00 $ 25,746.37
A-2A $454,165.16 0.00 $450,886.13
A-2B 0.00 0.00 0.00
B 0.00 0.00 0.00
C 0.00 0.00 0.00
D 0.00 0.00 0.00
E 0.00 0.00 0.00
F 0.00 0.00 0.00
G 0.00 0.00 0.00
H 0.00 0.00 0.00
J 0.00 0.00 0.00
K 0.00 0.00 0.00
R-II 0.00 0.00 0.00
TOTAL $479,911.53 0.00 $479,911.53
- ----------
(*) based on a Notional Balance
Page 2 of 9
<PAGE>
Corporate Trust Department
Securities Administration
Report to Certificaholders
Mortgage Capital Funding, Inc.,
Multifamily \ Commercial Mortgage-Pass-Through Certificates,
Series 1996-MC1
Payment Date: October 15, 1996
- --------------------------------------------------------------------------------
INTEREST DISTRIBUTION DETAIL
- --------------------------------------------------------------------------------
CURRENT PRIOR ACCRUED
UNPAID UNPAID
ACCRUED DISTRIBUTABLE DISTRIBUTABLE
CERTIFICATE CERTIFICATE CERTIFICATE PREPAYMENT
CLASS INTEREST INTEREST INTEREST PREMIUMS
- ----- ----------- ------------- ------------- ----------
X-1(*) $ 45,054.52 0.00 0.00 0.00
X-2(*) $ 384,755.92 0.00 0.00 0.00
A-1 $ 152,571.50 0.00 0.00 0.00
A-2A $ 913,246.58 0.00 0.00 0.00
A-2B $ 958,691.33 0.00 0.00 0.00
B $ 95,260.83 0.00 0.00 0.00
C $ 203,794.50 0.00 0.00 0.00
D $ 125,411.00 0.00 0.00 0.00
E $ 108,326.17 0.00 0.00 0.00
F $ 46,424.58 0.00 0.00 0.00
G $ 193,997.38 0.00 0.00 0.00
H $ 85,918.00 0.00 0.00 0.00
J $ 17,180.75 0.00 0.00 0.00
K $ 63,027.09 0.00 0.00 0.00
R-II 0.00 0.00 0.00 0.00
TOTAL $3,393,660.15 0.00 0.00 0.00
NET
PREPAYMENT PREPAYMENT DISTRIBUTABLE
INTEREST INTEREST ADDITIONAL CERTIFICATE
CLASS EXCESSES SHORTFALLS ADJUSTMENTS INTEREST
- ----- ---------- ---------- ----------- -------------
X-1(*) 0.00 0.00 0.00 $ 45,054.52
X-2(*) 0.00 0.00 0.00 $ 384,755.92
A-1 0.00 0.00 0.00 $ 152,571.50
A-2A 0.00 0.00 0.00 $ 913,246.58
A-2B 0.00 0.00 0.00 $ 958,691.33
B 0.00 0.00 0.00 $ 95,260.83
C 0.00 0.00 0.00 $ 203,794.50
D 0.00 0.00 0.00 $ 125,411.00
E 0.00 0.00 0.00 $ 108,326.17
F 0.00 0.00 0.00 $ 46,424.58
G 0.00 0.00 0.00 $ 193,997.38
H 0.00 0.00 0.00 $ 85,918.00
J 0.00 0.00 0.00 $ 17,180.75
K 0.00 0.00 0.00 $ 63,027.09
R-II 0.00 0.00 $395.50 $ 395.50
TOTAL 0.00 0.00 $395.50 $3,394,055.65
- ----------
(*) based on a Notional Balance
Page 3 of 9
<PAGE>
Corporate Trust Department
Securities Administration
Report to Certificaholders
Mortgage Capital Funding, Inc.,
Multifamily \ Commercial Mortgage-Pass-Through Certificates,
Series 1996-MC1
Payment Date: October 15, 1996
- --------------------------------------------------------------------------------
PRINCIPAL DISTRIBUTION PER CERTIFICATE
- --------------------------------------------------------------------------------
PRINCIPAL
DISTRIBUTION PRINCIPAL NET
CLASS AMOUNT SHORTFALL DISTRIBUTION
- ----- ------------ --------- ------------
X-1(*) 0.00000 0.00000 0.00000
X-2(*) 0.00000 0.00000 0.00000
A-1 0.85916 0.00000 0.85916
A-2A 3.02777 0.00000 3.02777
A-2B 0.00000 0.00000 0.00000
B 0.00000 0.00000 0.00000
C 0.00000 0.00000 0.00000
D 0.00000 0.00000 0.00000
E 0.00000 0.00000 0.00000
F 0.00000 0.00000 0.00000
G 0.00000 0.00000 0.00000
H 0.00000 0.00000 0.00000
J 0.00000 0.00000 0.00000
K 0.00000 0.00000 0.00000
R-II 0.00000 0.00000 0.00000
- ----------
(*) based on a Notional Balance
Page 4 of 9
<PAGE>
Corporate Trust Department
Securities Administration
Report to Certificaholders
Mortgage Capital Funding, Inc.,
Multifamily \ Commercial Mortgage-Pass-Through Certificates,
Series 1996-MC1
Payment Date: October 15, 1996
- --------------------------------------------------------------------------------
INTEREST DISTRIBUTION PER CERTIFICATE
- --------------------------------------------------------------------------------
CURRENT PRIOR ACCRUED
UNPAID UNPAID
ACCRUED DISTRIBUTABLE DISTRIBUTABLE
CERTIFICATE CERTIFICATE CERTIFICATE PREPAYMENT
CLASS INTEREST INTEREST INTEREST PREMIUMS
- ----- -------- ------------- ------------- --------
X-1(*) 1.50604 0.00000 0.00000 0.00000
X-2(*) 0.79846 0.00000 0.00000 0.00000
A-1 5.09133 0.00000 0.00000 0.00000
A-2A 6.08831 0.00000 0.00000 0.00000
A-2B 6.58333 0.00000 0.00000 0.00000
B 6.58333 0.00000 0.00000 0.00000
C 6.50000 0.00000 0.00000 0.00000
D 6.50000 0.00000 0.00000 0.00000
E 6.41667 0.00000 0.00000 0.00000
F 6.41667 0.00000 0.00000 0.00000
G 5.95833 0.00000 0.00000 0.00000
H 4.75000 0.00000 0.00000 0.00000
J 4.75000 0.00000 0.00000 0.00000
K 4.75000 0.00000 0.00000 0.00000
R-II 0.00000 0.00000 0.00000 0.00000
NET
PREPAYMENT PREPAYMENT DISTRIBUTABLE
INTEREST INTEREST ADDITIONAL CERTIFICATE
CLASS EXCESSES SHORTFALLS ADJUSTMENTS INTEREST
- ----- ---------- ---------- ----------- -------------
X-1(*) 0.00000 0.00000 0.00000 1.50604
X-2(*) 0.00000 0.00000 0.00000 0.79846
A-1 0.00000 0.00000 0.00000 5.09133
A-2A 0.00000 0.00000 0.00000 6.08831
A-2B 0.00000 0.00000 0.00000 6.58333
B 0.00000 0.00000 0.00000 6.58333
C 0.00000 0.00000 0.00000 6.50000
D 0.00000 0.00000 0.00000 6.50000
E 0.00000 0.00000 0.00000 6.41667
F 0.00000 0.00000 0.00000 6.41667
G 0.00000 0.00000 0.00000 5.95833
H 0.00000 0.00000 0.00000 4.75000
J 0.00000 0.00000 0.00000 4.75000
K 0.00000 0.00000 0.00000 4.75000
R-II 0.00000 0.00000 395.500 395.500
- ----------
(*) based on a Notional Balance
Page 5 of 9
<PAGE>
Corporate Trust Department
Securities Administration
Report to Certificaholders
Mortgage Capital Funding, Inc.,
Multifamily \ Commercial Mortgage-Pass-Through Certificates,
Series 1996-MC1
Payment Date: October 15, 1996
- --------------------------------------------------------------------------------
CLASS BALANCES
- --------------------------------------------------------------------------------
ADDITIONAL
BEGINNING REALIZED TRUST FUND ENDING
CLASS BALANCE PRINCIPAL LOSSES EXPENSES BALANCE
- ------ --------------- ----------- -------- ---------- ---------------
X-1(*) $ 29,915,833.45 0.00 0.00 0.00 $ 29,890,087.08
X-2(*) $480,928,569.72 0.00 0.00 0.00 $480,449,138.00
A-1 $ 29,915,979.90 $ 25,746.37 0.00 0.00 $ 29,890,233.53
A-2A $149,101,482.83 $454,165.16 0.00 0.00 $148,647,317.67
A-2B $145,624,000.00 0.00 0.00 0.00 $145,624,000.00
B $ 14,470,000.00 0.00 0.00 0.00 $ 14,470,000.00
C $ 31,353,000.00 0.00 0.00 0.00 $ 31,353,000.00
D $ 19,294,000.00 0.00 0.00 0.00 $ 19,294,000.00
E $ 16,882,000.00 0.00 0.00 0.00 $ 16,882,000.00
F $ 7,235,000.00 0.00 0.00 0.00 $ 7,235,000.00
G $ 32,559,000.00 0.00 0.00 0.00 $ 32,559,000.00
H $ 18,088,000.00 0.00 0.00 0.00 $ 18,088,000.00
J $ 3,617,000.00 0.00 0.00 0.00 $ 3,617,000.00
K $ 13,268,861.00 0.00 0.00 0.00 $ 13,268,861.00
R-II 0.00 0.00 0.00 0.00 0.00
TOTAL $481,408,323.73 $479,911.53 0.00 0.00 $480,928,412.20
- ----------
(*) based on a Notional Balance
Page 6 of 9
<PAGE>
Corporate Trust Department
Securities Administration
Report to Certificaholders
Mortgage Capital Funding, Inc.,
Multifamily \ Commercial Mortgage-Pass-Through Certificates,
Series 1996-MC1
Payment Date: October 15, 1996
- --------------------------------------------------------------------------------
DELINQUENCY AND SPECIALLY SERVICED STATISTICS
- --------------------------------------------------------------------------------
ONE TWO THREE+ SPECIALLY
MONTH MONTHS MONTHS SERVICED FORECLOSURES
- --------------------------------------------------------------------------------
Number in Loan Group 1 0 0 0 0 0
Unpaid Principal Balance 0.00 0.00 0.00 0.00 0.00
Number in Loan Group 2 0 0 0 0 0
Unpaid Principal Balance 0.00 0.00 0.00 0.00 0.00
Number in Mortgage Pool 0 0 0 0 0
Unpaid Principal Balance 0.00 0.00 0.00 0.00 0.00
- --------------------------------------------------------------------------------
PROPERITIES WHICH BECAME REO PROPERTIES DURING THE RELATED COLLECTION PERIOD
- --------------------------------------------------------------------------------
ONE TWO THREE+ SPECIALLY
MONTH MONTHS MONTHS SERVICED FORECLOSURES
- --------------------------------------------------------------------------------
Stated Principal Balance 0.00 0.00 0.00 0.00 0.00
Unpaid Principal Balance 0.00 0.00 0.00 0.00 0.00
- --------------------------------------------------------------------------------
MORTGAGE LOANS REPURCHASED, LIQUIDATED OR DISPOSED OF DURING THE RELATED
COLLATERAL PERIOD
- --------------------------------------------------------------------------------
ONE TWO THREE+ SPECIALLY
MONTH MONTHS MONTHS SERVICED FORECLOSURES
- --------------------------------------------------------------------------------
Loan Number 0 0 0 0 0
Liquidation Proceeds 0.00 0.00 0.00 0.00 0.00
Portion in Available
Distribution Amount 0.00 0.00 0.00 0.00 0.00
- --------------------------------------------------------------------------------
REO PROPERTIES INCLUDED IN THE TRUST FUND AS OF THE LAST DAY OF THE
COLLECTION PERIOD
- --------------------------------------------------------------------------------
ONE TWO THREE+ SPECIALLY
MONTH MONTHS MONTHS SERVICED FORECLOSURES
- --------------------------------------------------------------------------------
Loan Number 0 0 0 0 0
Book Value 0.00 0.00 0.00 0.00 0.00
Income Collected 0.00 0.00 0.00 0.00 0.00
Portion in Available
Distribution Amount 0.00 0.00 0.00 0.00 0.00
- --------------------------------------------------------------------------------
REO PROPERTIES SOLD OR DISPOSED OF DURING THE RELATED COLLECTION PERIOD
- --------------------------------------------------------------------------------
ONE TWO THREE+ SPECIALLY
MONTH MONTHS MONTHS SERVICED FORECLOSURES
- --------------------------------------------------------------------------------
Loan Number 0 0 0 0 0
Liquidation Proceeds 0.00 0.00 0.00 0.00 0.00
Portion in Available
Distribution Amount 0.00 0.00 0.00 0.00 0.00
Final Recovery
Determination 0.00 0.00 0.00 0.00 0.00
- --------------------------------------------------------------------------------
PRINCIPAL PREPAYMENTS, PREPAYMENT INTEREST EXCESSES, PREPAYMENT INTEREST
SHORTFALLS
- --------------------------------------------------------------------------------
LOAN LOAN
GROUP1 GROUP2
- --------------------------------------------------------------------------------
Principal Prepayments 0.00 0.00
Prepayment Interest Excesses 0.00 0.00
Prepayment Interest Shortfalls 0.00 0.00
- --------------------------------------------------------------------------------
Page 7 of 9
<PAGE>
Corporate Trust Department
Securities Administration
Report to Certificaholders
Mortgage Capital Funding, Inc.,
Multifamily \ Commercial Mortgage-Pass-Through Certificates,
Series 1996-MC1
Payment Date: October 15, 1996
- --------------------------------------------------------------------------------
OTHER INFORMATION
- --------------------------------------------------------------------------------
Aggregate Incurred Realized Losses $ 0.00
Aggregate Incurred Additional Trust Fund Expenses $ 0.00
Aggregate Servicing Compensation $86,937.10
Master Servicer Compensation $84,931.23
Special Servicer Compensation $ 2,005.87
Aggregate P & I Advances Outstanding on the prior
Distribution Date for:
the Master Servicer 0.00
the Special Servicer 0.00
the Trustee 0.00
Aggregate Appraisal Reduction Amount 0.00
- --------------------------------------------------------------------------------
APPRAISAL REDUCTION AMOUNTS
- --------------------------------------------------------------------------------
Loan Number 0 0 0 0
Appraisal Reduction Amount 0.00 0.00 0.00 0.00
- --------------------------------------------------------------------------------
AGGREGATE AMOUNT OF BALLOON PAYMENT INTEREST EXCESSESS AND SHORTFALLS
- --------------------------------------------------------------------------------
LOAN LOAN
GROUP1 GROUP2
- --------------------------------------------------------------------------------
Balloon Payment Interest Excesses 0.00 0.00
Balloon Payment Interest Shortfalls 0.00 0.00
- --------------------------------------------------------------------------------
<TABLE>
<CAPTION>
- -----------------------------------------------------------------------------------------
AGGREGATE COLLATERAL INFORMATION
- -----------------------------------------------------------------------------------------
LOAN LOAN MORTGAGE
GROUP1 GROUP2 POOL
--------------- --------------- ----------------
<S> <C> <C> <C>
Number of Outstanding Mortgage Loans 8 168 176
Stated Principal Balance of Mortgage
Loans before Distribution $ 29,915,833.46 $451,494,146.24 $481,409,979.70
Stated Principal Balance of Mortgage
Loans after Distribution $ 29,890,087.09 $451,039,981.08 $480,930,068.17
% of Cut-Off-Date Balance
Outstanding after Distribution 99.74% 99.70% 99.70%
- -----------------------------------------------------------------------------------------
</TABLE>
Page 8 of 9
<PAGE>
Corporate Trust Department
Securities Administration
Report to Certificaholders
Mortgage Capital Funding, Inc.,
Multifamily/Commercial Mortgage-Pass-Through Certificates,
Series 1996-MC1
Payment Date: October 15, 1996
- --------------------------------------------------------------------------------
OTHER INFORMATION
- --------------------------------------------------------------------------------
ASER Loan/Aggregate Information and SER Information:
* Please see annex A on the State Street Bank and Trust Company's Tradewinds
Bulletin Board Dial 617/664-5380
Page 9 of 9
Corporate Trust Department
Securities Administration
Report to Certificaholders
- --------------------------------------------------------------------------------
CONTENTS
- --------------------------------------------------------------------------------
CONTENT PAGE NUMBER
------- -----------
QUICK REFERENCE ...............I FACTOR SHEET ..................... 4&5
FOR EASY ISSUE AND FACTOR FOR DETAILED INFORMATION
INFORMATION
PAYMENT SUMMARY ...............1 BALANCE INFORMATION .............. 6
FOR SECURITY AND COLLATERAL
BALANCE INFORMATION
PAYMENT DETAIL ................2&3 DELINQUENCY AND OTHER ............ 7
INFORMATION
- --------------------------------------------------------------------------------
Mortgage Capital Funding, Inc.,
Multifamily \ Commercial Mortgage-Pass-Through Certificates,
Series 1996-MC1
Payment Date: November 15, 1996
- --------------------------------------------------------------------------------
QUICK REFERENCE
- --------------------------------------------------------------------------------
BEGINNING PASS
CERTIFICATE THROUGH INTEREST PRINCIPAL
CLASS CUSIP FACTOR RATE TYPE DISTRIBUTION(1)
- ----- --------- ----------- ------- -------- ---------------
X-1(*) 61910DBE1 0.99744 2.11424% Variable 0.00000
X-2(*) 61910DBF8 0.99704 0.95991% Variable 0.00000
A-1 61910DBG6 0.99744 6.12000% Variable 0.82306
A-2A 61910DBH4 0.99098 7.35000% Fixed 12.5463
A-2B 61910DBJ0 1.00000 7.90000% Fixed 0.00000
B 61910DBK7 1.00000 7.90000% Fixed 0.00000
C 61910DBL5 1.00000 7.80000% Fixed 0.00000
D 61910DBM3 1.00000 7.80000% Fixed 0.00000
E 61910DBN1 1.00000 7.70000% Fixed 0.00000
F 61910DBP6 1.00000 7.70000% Fixed 0.00000
G 61910DBQ4 1.00000 7.15000% Fixed 0.00000
H 61910DBR2 1.00000 5.70000% Fixed 0.00000
J 61910DBS0 1.00000 5.70000% Fixed 0.00000
K 61910DBT8 1.00000 5.70000% Fixed 0.00000
R-II N/A 0.00000 0.00000% N/A 0.00000
ENDING
INTEREST CERTIFICATE
CLASS DISTRIBUTION(1) FACTOR
- ----- --------------- -----------
X-1(*) 1.75735 0.99662
X-2(*) 0.90129 0.99309
A-1 5.08694 0.99662
A-2A 6.21182 0.97844
A-2B 6.58333 1.00000
B 6.58333 1.00000
C 6.50000 1.00000
D 6.50000 1.00000
E 6.41667 1.00000
F 6.41667 1.00000
G 5.95833 1.00000
H 4.75000 1.00000
J 4.75000 1.00000
K 4.75000 1.00000
R-II 395.500 0.00000
- ----------
(1) represents net payment per certificate
(*) based on a Notional Balance
NOTE: There are no Principal Adjustments or Losses to report this period. There
is no Negative Amortization to report this period.
Account Administrator: William T. Oberlies, Ph. (617)664-5420
Account Officer: William G. Swan, Ph. (617) 664-5469
Street Connection: for Factor & Rate by CUSIP, Ph. (617) 664-5500
<PAGE>
Corporate Trust Department
Securities Administration
Report to Certificaholders
Mortgage Capital Funding, Inc.,
Multifamily \ Commercial Mortgage-Pass-Through Certificates,
Series 1996-MC1
Payment Date: November 15, 1996
- --------------------------------------------------------------------------------
PAYMENT SUMMARY
- --------------------------------------------------------------------------------
PRINCIPAL
DISTRIBUTION PRINCIPAL ACCRUED INTEREST TOTAL
CLASS AMOUNT ADJUSTMENTS INTEREST ADJUSTMENTS(2) PAYABLE
- ----- ------------- ----------- ------------- -------------- -------------
X-1(*) 0.00 0.00 $ 52,662.34 0.00 $ 52,662.34
X-2(*) 0.00 0.00 $ 384,325.02 $49,982.50 $ 434,307.52
A-1 $ 24,664.51 0.00 $ 152,440.19 0.00 $ 177,104.70
A-2A $1,881,956.17 0.00 $ 910,464.82 $21,307.66 $2,813,728.65
A-2B 0.00 0.00 $ 958,691.33 0.00 $ 958,691.33
B 0.00 0.00 $ 95,260.83 0.00 $ 95,260.83
C 0.00 0.00 $ 203,794.50 0.00 $ 203,794.50
D 0.00 0.00 $ 125,411.00 0.00 $ 125,411.00
E 0.00 0.00 $ 108,326.17 0.00 $ 108,326.17
F 0.00 0.00 $ 46,424.58 0.00 $ 46,424.58
G 0.00 0.00 $ 193,997.38 0.00 $ 193,997.38
H 0.00 0.00 $ 85,918.00 0.00 $ 85,918.00
J 0.00 0.00 $ 17,180.75 0.00 $ 17,180.75
K 0.00 0.00 $ 63,027.09 0.00 $ 63,027.09
R-II 0.00 0.00 0.00 $ 395.07 $ 396.07
TOTAL $1,906,620.68 0.00 $3,397,924.00 $71,685.23 $5,376,229.91
- ----------
(2) for complete information see Payment Detail
(*) based on a Notional Balance
DISCLAIMER NOTICE
-----------------
Notice: This report has been prepared by or based on information
furnished to State Street Bank and Trust Company (State Street)by one or more
third parties (e.g., Servicer, Master Servicer, etc.). State Steeet shall not
have and does not undertake responsibility for the accuracy or completeness of
information provided by such third parties, and makes no representation or
warranty with respect to the accuracy or completeness thereof or the sufficiency
thereof for any particular purpose. State Street has not independently verified
information received from third parties, and shall have no liability for any
inaccuracies therein or caused thereby.
Page 1 of 9
<PAGE>
Corporate Trust Department
Securities Administration
Report to Certificaholders
Mortgage Capital Funding, Inc.,
Multifamily \ Commercial Mortgage-Pass-Through Certificates,
Series 1996-MC1
Payment Date: November 15, 1996
- --------------------------------------------------------------------------------
PRINCIPAL DISTRIBUTION DETAIL
- --------------------------------------------------------------------------------
PRINCIPAL
DISTRIBUTION PRINCIPAL NET
CLASS AMOUNT SHORTFALL DISTRIBUTION
- ----- ------------- --------- -------------
X-1(*) 0.00 0.00 0.00
X-2(*) 0.00 0.00 0.00
A-1 $ 24,664.51 0.00 $ 24,664.51
A-2A $1,881,956.17 0.00 $1,881,956.17
A-2B 0.00 0.00 0.00
B 0.00 0.00 0.00
C 0.00 0.00 0.00
D 0.00 0.00 0.00
E 0.00 0.00 0.00
F 0.00 0.00 0.00
G 0.00 0.00 0.00
H 0.00 0.00 0.00
J 0.00 0.00 0.00
K 0.00 0.00 0.00
R-II 0.00 0.00 0.00
TOTAL $1,906,620.68 0.00 $1,906,620.68
- ----------
(*) based on a Notional Balance
Page 2 of 9
<PAGE>
Corporate Trust Department
Securities Administration
Report to Certificaholders
Mortgage Capital Funding, Inc.,
Multifamily \ Commercial Mortgage-Pass-Through Certificates,
Series 1996-MC1
Payment Date: November 15, 1996
- --------------------------------------------------------------------------------
INTEREST DISTRIBUTION DETAIL
- --------------------------------------------------------------------------------
CURRENT PRIOR ACCRUED
UNPAID UNPAID
ACCRUED DISTRIBUTABLE DISTRIBUTABLE
CERTIFICATE CERTIFICATE CERTIFICATE PREPAYMENT
CLASS INTEREST INTEREST INTEREST PREMIUMS
- ----- ------------- ------------- ------------- ----------
X-1(*) $ 52,662.34 0.00 0.00 0.00
X-2(*) $ 384,325.02 0.00 0.00 $49,982.50
A-1 $ 152,440.19 0.00 0.00 0.00
A-2A $ 910,464.82 0.00 0.00 $21,307.66
A-2B $ 958,691.33 0.00 0.00 0.00
B $ 95,260.83 0.00 0.00 0.00
C $ 203,794.50 0.00 0.00 0.00
D $ 125,411.00 0.00 0.00 0.00
E $ 108,326.17 0.00 0.00 0.00
F $ 46,424.58 0.00 0.00 0.00
G $ 193,997.38 0.00 0.00 0.00
H $ 85,918.00 0.00 0.00 0.00
J $ 17,180.75 0.00 0.00 0.00
K $ 63,027.09 0.00 0.00 0.00
R-II 0.00 0.00 0.00 0.00
TOTAL $3,397,924.00 0.00 0.00 $71,290.16
NET
PREPAYMENT PREPAYMENT DISTRIBUTABLE
INTEREST INTEREST ADDITIONAL CERTIFICATE
CLASS EXCESSES SHORTFALLS ADJUSTMENTS INTEREST
- ------ ---------- ---------- ----------- -------------
X-1(*) 0.00 0.00 0.00 $ 52,662.34
X-2(*) 0.00 0.00 0.00 $ 434,307.52
A-1 0.00 0.00 0.00 $ 152,440.19
A-2A 0.00 0.00 0.00 $ 931,772.48
A-2B 0.00 0.00 0.00 $ 958,691.33
B 0.00 0.00 0.00 $ 95,260.83
C 0.00 0.00 0.00 $ 203,794.50
D 0.00 0.00 0.00 $ 125,411.00
E 0.00 0.00 0.00 $ 108,326.17
F 0.00 0.00 0.00 $ 46,424.58
G 0.00 0.00 0.00 $ 193,997.38
H 0.00 0.00 0.00 $ 85,918.00
J 0.00 0.00 0.00 $ 17,180.75
K 0.00 0.00 0.00 $ 63,027.09
R-II 0.00 0.00 $ 395.07 $ 395.07
TOTAL 0.00 0.00 $ 395.07 $3,469,609.23
- ----------
(*) based on a Notional Balance
Page 3 of 9
<PAGE>
Corporate Trust Department
Securities Administration
Report to Certificaholders
Mortgage Capital Funding, Inc.,
Multifamily \ Commercial Mortgage-Pass-Through Certificates,
Series 1996-MC1
Payment Date: November 15, 1996
- --------------------------------------------------------------------------------
PRINCIPAL DISTRIBUTION PER CERTIFICATE
- --------------------------------------------------------------------------------
PRINCIPAL
DISTRIBUTION PRINCIPAL NET
CLASS AMOUNT SHORTFALL DISTRIBUTION
- ------ ------------ --------- ------------
X-1(*) 0.00000 0.00000 0.00000
X-2(*) 0.00000 0.00000 0.00000
A-1 0.82306 0.00000 0.82306
A-2A 12.5463 0.00000 12.5463
A-2B 0.00000 0.00000 0.00000
B 0.00000 0.00000 0.00000
C 0.00000 0.00000 0.00000
D 0.00000 0.00000 0.00000
E 0.00000 0.00000 0.00000
F 0.00000 0.00000 0.00000
G 0.00000 0.00000 0.00000
H 0.00000 0.00000 0.00000
J 0.00000 0.00000 0.00000
K 0.00000 0.00000 0.00000
R-II 0.00000 0.00000 0.00000
- ----------
(*) based on a Notional Balance
Page 4 of 9
<PAGE>
Corporate Trust Department
Securities Administration
Report to Certificaholders
Mortgage Capital Funding, Inc.,
Multifamily \ Commercial Mortgage-Pass-Through Certificates,
Series 1996-MC1
Payment Date: November 15, 1996
- --------------------------------------------------------------------------------
INTEREST DISTRIBUTION PER CERTIFICATE
- --------------------------------------------------------------------------------
CURRENT PRIOR ACCRUED
UNPAID UNPAID
ACCRUED DISTRIBUTABLE DISTRIBUTABLE
CERTIFICATE CERTIFICATE CERTIFICATE PREPAYMENT
CLASS INTEREST INTEREST INTEREST PREMIUMS
- ----- ----------- ------------- ------------- ----------
X-1(*) 1.75735 0.00000 0.00000 0.00000
X-2(*) 0.79756 0.00000 0.00000 0.10372
A-1 5.08694 0.00000 0.00000 0.00000
A-2A 6.06977 0.00000 0.00000 0.14205
A-2B 6.58333 0.00000 0.00000 0.00000
B 6.58333 0.00000 0.00000 0.00000
C 6.50000 0.00000 0.00000 0.00000
D 6.50000 0.00000 0.00000 0.00000
E 6.41667 0.00000 0.00000 0.00000
F 6.41667 0.00000 0.00000 0.00000
G 5.95833 0.00000 0.00000 0.00000
H 4.75000 0.00000 0.00000 0.00000
J 4.75000 0.00000 0.00000 0.00000
K 4.75000 0.00000 0.00000 0.00000
R-II 0.00000 0.00000 0.00000 0.00000
NET
PREPAYMENT PREPAYMENT DISTRIBUTABLE
INTEREST INTEREST ADDITIONAL CERTIFICATE
CLASS EXCESSES SHORTFALLS ADJUSTMENTS INTEREST
- ------ ---------- ---------- ----------- -------------
X-1(*) 0.00000 0.00000 0.00000 1.75735
X-2(*) 0.00000 0.00000 0.00000 0.90129
A-1 0.00000 0.00000 0.00000 5.08694
A-2A 0.00000 0.00000 0.00000 6.21182
A-2B 0.00000 0.00000 0.00000 6.58333
B 0.00000 0.00000 0.00000 6.58333
C 0.00000 0.00000 0.00000 6.50000
D 0.00000 0.00000 0.00000 6.50000
E 0.00000 0.00000 0.00000 6.41667
F 0.00000 0.00000 0.00000 6.41667
G 0.00000 0.00000 0.00000 5.95833
H 0.00000 0.00000 0.00000 4.75000
J 0.00000 0.00000 0.00000 4.75000
K 0.00000 0.00000 0.00000 4.75000
R-II 0.00000 0.00000 395.070 395.070
- ----------
(*) based on a Notional Balance
Page 5 of 9
<PAGE>
Corporate Trust Department
Securities Administration
Report to Certificaholders
Mortgage Capital Funding, Inc.,
Multifamily \ Commercial Mortgage-Pass-Through Certificates,
Series 1996-MC1
Payment Date: November 15, 1996
- --------------------------------------------------------------------------------
CLASS BALANCES
- --------------------------------------------------------------------------------
ADDITIONAL
BEGINNING REALIZED TRUST FUND ENDING
CLASS BALANCE PRINCIPAL LOSSES EXPENSES BALANCE
- ------ --------------- ------------- -------- ---------- ---------------
X-1(*) $ 29,890,087.08 0.00 0.00 0.00 $ 29,865,568.87
X-2(*) $480,449,138.10 0.00 0.00 0.00 $478,544,570.00
A-1 $ 29,890,233.53 $ 24,664.51 0.00 0.00 $ 29,865,569.02
A-2A $148,647,317.67 $1,881,956.17 0.00 0.00 $146,765,361.50
A-2B $145,624,000.00 0.00 0.00 0.00 $145,624,000.00
B $ 14,470,000.00 0.00 0.00 0.00 $ 14,470,000.00
C $ 31,353,000.00 0.00 0.00 0.00 $ 31,353,000.00
D $ 19,294,000.00 0.00 0.00 0.00 $ 19,294,000.00
E $ 16,882,000.00 0.00 0.00 0.00 $ 16,882,000.00
F $ 7,235,000.00 0.00 0.00 0.00 $ 7,235,000.00
G $ 32,559,000.00 0.00 0.00 0.00 $ 32,559,000.00
H $ 18,088,000.00 0.00 0.00 0.00 $ 18,088,000.00
J $ 3,617,000.00 0.00 0.00 0.00 $ 3,617,000.00
K $ 13,268,861.00 0.00 0.00 0.00 $ 13,268,861.00
R-II 0.00 0.00 0.00 0.00 0.00
TOTAL $480,928,412.20 $1,906,620.68 0.00 0.00 $479,021,791.52
- ----------
(*) based on a Notional Balance
Page 6 of 9
<PAGE>
Corporate Trust Department
Securities Administration
Report to Certificaholders
Mortgage Capital Funding, Inc.,
Multifamily \ Commercial Mortgage-Pass-Through Certificates,
Series 1996-MC1
Payment Date: November 15, 1996
- --------------------------------------------------------------------------------
DELINQUENCY AND SPECIALLY SERVICED STATISTICS
- --------------------------------------------------------------------------------
ONE TWO THREE+ SPECIALLY
MONTH MONTHS MONTHS SERVICED FORECLOSURES
- --------------------------------------------------------------------------------
Number in Loan Group 1 0 0 0 0 0
Unpaid Principal Balance 0.00 0.00 0.00 0.00 0.00
Number in Loan Group 2 0 0 0 0 0
Unpaid Principal Balance 0.00 0.00 0.00 0.00 0.00
Number in Mortgage Pool 0 0 0 0 0
Unpaid Principal Balance 0.00 0.00 0.00 0.00 0.00
- --------------------------------------------------------------------------------
PROPERITIES WHICH BECAME REO PROPERTIES DURING THE RELATED COLLECTION PERIOD
- --------------------------------------------------------------------------------
ONE TWO THREE+ SPECIALLY
MONTH MONTHS MONTHS SERVICED FORECLOSURES
- --------------------------------------------------------------------------------
Stated Principal Balance 0.00 0.00 0.00 0.00 0.00
Unpaid Principal Balance 0.00 0.00 0.00 0.00 0.00
- --------------------------------------------------------------------------------
MORTGAGE LOANS REPURCHASED, LIQUIDATED OR DISPOSED OF DURING THE RELATED
COLLATERAL PERIOD
- --------------------------------------------------------------------------------
ONE TWO THREE+ SPECIALLY
MONTH MONTHS MONTHS SERVICED FORECLOSURES
- --------------------------------------------------------------------------------
Loan Number 0 0 0 0 0
Liquidation Proceeds 0.00 0.00 0.00 0.00 0.00
Portion in Available
Distribution Amount 0.00 0.00 0.00 0.00 0.00
- --------------------------------------------------------------------------------
REO PROPERTIES INCLUDED IN THE TRUST FUND AS OF THE LAST DAY OF THE
COLLECTION PERIOD
- --------------------------------------------------------------------------------
ONE TWO THREE+ SPECIALLY
MONTH MONTHS MONTHS SERVICED FORECLOSURES
- --------------------------------------------------------------------------------
Loan Number 0 0 0 0 0
Book Value 0.00 0.00 0.00 0.00 0.00
Income Collected 0.00 0.00 0.00 0.00 0.00
Portion in Available
Distribution Amount 0.00 0.00 0.00 0.00 0.00
- --------------------------------------------------------------------------------
REO PROPERTIES SOLD OR DISPOSED OF DURING THE RELATED COLLECTION PERIOD
- --------------------------------------------------------------------------------
ONE TWO THREE+ SPECIALLY
MONTH MONTHS MONTHS SERVICED FORECLOSURES
- --------------------------------------------------------------------------------
Loan Number 0 0 0 0 0
Liquidation Proceeds 0.00 0.00 0.00 0.00 0.00
Portion in Available
Distribution Amount 0.00 0.00 0.00 0.00 0.00
Final Recovery
Determination 0.00 0.00 0.00 0.00 0.00
- --------------------------------------------------------------------------------
PRINCIPAL PREPAYMENTS, PREPAYMENT INTEREST EXCESSES, PREPAYMENT INTEREST
SHORTFALLS
- --------------------------------------------------------------------------------
LOAN LOAN
GROUP1 GROUP2
- --------------------------------------------------------------------------------
Principal Prepayments 0.00 $1,424,488.12
Prepayment Interest Excesses 0.00 0.00
Prepayment Interest Shortfalls 0.00 0.00
- --------------------------------------------------------------------------------
Page 7 of 9
<PAGE>
Corporate Trust Department
Securities Administration
Report to Certificaholders
Mortgage Capital Funding, Inc.,
Multifamily \ Commercial Mortgage-Pass-Through Certificates,
Series 1996-MC1
Payment Date: November 15, 1996
- --------------------------------------------------------------------------------
OTHER INFORMATION
- --------------------------------------------------------------------------------
Aggregate Incurred Realized Losses $ 0.00
Aggregate Incurred Additional Trust Fund Expenses $ 0.00
Aggregate Servicing Compensation $86,844.43
Master Servicer Compensation $84,840.55
Special Servicer Compensation $ 2,003.88
Aggregate P & I Advances Outstanding on
the prior Distribution Date for:
the Master Servicer 0.00
the Special Servicer 0.00
the Trustee 0.00
Aggregate Appraisal Reduction Amount 0.00
- --------------------------------------------------------------------------------
APPRAISAL REDUCTION AMOUNTS
- --------------------------------------------------------------------------------
Loan Number 0 0 0 0
Appraisal Reduction Amount 0.00 0.00 0.00 0.00
- --------------------------------------------------------------------------------
AGGREGATE AMOUNT OF BALLOON PAYMENT INTEREST EXCESSESS AND SHORTFALLS
- --------------------------------------------------------------------------------
LOAN LOAN
GROUP1 GROUP2
- --------------------------------------------------------------------------------
Balloon Payment Interest Excesses 0.00 0.00
Balloon Payment Interest Shortfalls 0.00 0.00
<TABLE>
<CAPTION>
- -----------------------------------------------------------------------------------------
AGGREGATE COLLATERAL INFORMATION
- -----------------------------------------------------------------------------------------
LOAN LOAN MORTGAGE
GROUP1 GROUP2 POOL
--------------- --------------- ---------------
<S> <C> <C> <C>
Number of Outstanding Mortgage Loans 8 167 175
Stated Principal Balance of Mortgage
Loans before Distribution $ 29,890,087.09 $451,039,981.15 $480,930,068.24
Stated Principal Balance of Mortgage
Loans after Distribution $ 29,865,569.02 $449,158,024.98 $479,023,594.00
% of Cut-Off-Date Balance
Outstanding after Distribution 99.66% 99.28% 99.31%
- -----------------------------------------------------------------------------------------
</TABLE>
Page 8 of 9
<PAGE>
Corporate Trust Department
Securities Administration
Report to Certificaholders
Mortgage Capital Funding, Inc.,
Multifamily/Commercial Mortgage-Pass-Through Certificates,
Series 1996-MC1
Payment Date: November 15, 1996
- --------------------------------------------------------------------------------
OTHER INFORMATION
- --------------------------------------------------------------------------------
ASER Loan/Aggregate Information and SER Information:
* Please see annex A on the State Street Bank and Trust Company's Tradewinds
Bulletin Board Dial 617/664-5380
Page 9 of 9
Corporate Trust Department
Securities Administration
Report to Certificaholders
- --------------------------------------------------------------------------------
CONTENTS
- --------------------------------------------------------------------------------
CONTENT PAGE NUMBER
------- -----------
QUICK REFERENCE ...............I FACTOR SHEET ..................... 4&5
FOR EASY ISSUE AND FACTOR FOR DETAILED INFORMATION
INFORMATION
PAYMENT SUMMARY ...............1 BALANCE INFORMATION .............. 6
FOR SECURITY AND COLLATERAL
BALANCE INFORMATION
PAYMENT DETAIL ................2&3 DELINQUENCY AND OTHER ............ 7
INFORMATION
- --------------------------------------------------------------------------------
Mortgage Capital Funding, Inc.,
Multifamily \ Commercial Mortgage-Pass-Through Certificates,
Series 1996-MC1
Payment Date: December 15, 1996
- --------------------------------------------------------------------------------
QUICK REFERENCE
- --------------------------------------------------------------------------------
BEGINNING PASS
CERTIFICATE THROUGH INTEREST PRINCIPAL
CLASS CUSIP FACTOR RATE TYPE DISTRIBUTION(1)
- ----- --------- ----------- -------- -------- ---------------
X-1(*) 61910DBE1 0.99662 2.11423% Variable 0.00000
X-2(*) 61910DBF8 0.99309 0.95594% Variable 0.00000
A-1 61910DBG6 0.99662 6.12000% Variable 0.82397
A-2A 61910DBH4 0.97844 7.35000% Fixed 3.06313
A-2B 61910DBJ0 1.00000 7.90000% Fixed 0.00000
B 61910DBK7 1.00000 7.90000% Fixed 0.00000
C 61910DBL5 1.00000 7.80000% Fixed 0.00000
D 61910DBM3 1.00000 7.80000% Fixed 0.00000
E 61910DBN1 1.00000 7.70000% Fixed 0.00000
F 61910DBP6 1.00000 7.70000% Fixed 0.00000
G 61910DBQ4 1.00000 7.15000% Fixed 0.00000
H 61910DBR2 1.00000 5.70000% Fixed 0.00000
J 61910DBS0 1.00000 5.70000% Fixed 0.00000
K 61910DBT8 1.00000 5.70000% Fixed 0.00000
R-II N/A 0.00000 0.00000% N/A 0.00000
ENDING
INTEREST CERTIFICATE
CLASS DISTRIBUTION(1) FACTOR
- ----- --------------- -----------
X-1(*) 1.75590 0.99579
X-2(*) 0.79111 0.99208
A-1 5.08275 0.99579
A-2A 5.99292 0.97537
A-2B 6.58333 1.00000
B 6.58333 1.00000
C 6.50000 1.00000
D 6.50000 1.00000
E 6.41667 1.00000
F 6.41667 1.00000
G 5.95833 1.00000
H 4.75000 1.00000
J 4.75000 1.00000
K 4.75000 1.00000
R-II 393.050 0.00000
- ----------
(1) represents net payment per certificate
(*) based on a Notional Balance
NOTE: There are no Principal Adjustments or Losses to report this period. There
is no Negative Amortization to report this period.
Account Administrator: William T. Oberlies, Ph. (617)664-5420
Account Officer: William G. Swan, Ph. (617) 664-5469
Street Connection: for Factor & Rate by CUSIP, Ph. (617) 664-5500
<PAGE>
Corporate Trust Department
Securities Administration
Report to Certificaholders
Mortgage Capital Funding, Inc.,
Multifamily \ Commercial Mortgage-Pass-Through Certificates,
Series 1996-MC1
Payment Date: December 15, 1996
- --------------------------------------------------------------------------------
PAYMENT SUMMARY
- --------------------------------------------------------------------------------
PRINCIPAL
DISTRIBUTION PRINCIPAL ACCRUED INTEREST TOTAL
CLASS AMOUNT ADJUSTMENTS INTEREST ADJUSTMENTS(2) PAYABLE
- ------ ------------ ----------- ------------- -------------- -------------
X-1(*) 0.00 0.00 $ 52,618.95 0.00 $ 52,618.95
X-2(*) 0.00 0.00 $ 381,216.57 0.00 $ 381,216.57
A-1 $ 24,691.80 0.00 $ 152,314.40 0.00 $ 177,006.20
A-2A $459,469.25 0.00 $ 898,937.84 0.00 $1,358,407.09
A-2B 0.00 0.00 $ 958,691.33 0.00 $ 958,691.33
B 0.00 0.00 $ 95,260.83 0.00 $ 95,260.83
C 0.00 0.00 $ 203,794.50 0.00 $ 203,794.50
D 0.00 0.00 $ 125,411.00 0.00 $ 125,411.00
E 0.00 0.00 $ 108,326.17 0.00 $ 108,326.17
F 0.00 0.00 $ 46,424.58 0.00 $ 46,424.58
G 0.00 0.00 $ 193,997.38 0.00 $ 193,997.38
H 0.00 0.00 $ 85,918.00 0.00 $ 85,918.00
J 0.00 0.00 $ 17,180.75 0.00 $ 17,180.75
K 0.00 0.00 $ 63,027.09 0.00 $ 63,027.09
R-II 0.00 0.00 0.00 $393.05 $ 393.05
TOTAL $484,161.05 0.00 $3,383,119.39 $393.05 $3,867,673.49
- ----------
(2) for complete information see Payment Detail
(*) based on a Notional Balance
DISCLAIMER NOTICE
-----------------
Notice: This report has been prepared by or based on information furnished to
State Street Bank and Trust Company ( State Street )by one or more third parties
(e.g., Servicer, Master Servicer, etc.). State Steeet shall not have and does
not undertake responsibility for the accuracy or completeness of information
provided by such third parties, and makes no representation or warranty with
respect to the accuracy or completeness thereof or the sufficiency thereof for
any particular purpose. State Street has not independently verified information
received from third parties, and shall have no liability for any inaccuracies
therein or caused thereby.
Page 1 of 9
<PAGE>
Corporate Trust Department
Securities Administration
Report to Certificaholders
Mortgage Capital Funding, Inc.,
Multifamily \ Commercial Mortgage-Pass-Through Certificates,
Series 1996-MC1
Payment Date: December 15, 1996
- --------------------------------------------------------------------------------
PRINCIPAL DISTRIBUTION DETAIL
- --------------------------------------------------------------------------------
PRINCIPAL
DISTRIBUTION PRINCIPAL NET
CLASS AMOUNT SHORTFALL DISTRIBUTION
- ----- ------------ --------- ------------
X-1(*) 0.00 0.00 0.00
X-2(*) 0.00 0.00 0.00
A-1 $ 24,691.80 0.00 $ 24,691.80
A-2A $459,469.25 0.00 $459,469.25
A-2B 0.00 0.00 0.00
B 0.00 0.00 0.00
C 0.00 0.00 0.00
D 0.00 0.00 0.00
E 0.00 0.00 0.00
F 0.00 0.00 0.00
G 0.00 0.00 0.00
H 0.00 0.00 0.00
J 0.00 0.00 0.00
K 0.00 0.00 0.00
R-II 0.00 0.00 0.00
TOTAL $484,161.05 0.00 $484,161.05
- ----------
(*) based on a Notional Balance
Page 2 of 9
<PAGE>
Corporate Trust Department
Securities Administration
Report to Certificaholders
Mortgage Capital Funding, Inc.,
Multifamily \ Commercial Mortgage-Pass-Through Certificates,
Series 1996-MC1
Payment Date: December 15, 1996
- --------------------------------------------------------------------------------
INTEREST DISTRIBUTION DETAIL
- --------------------------------------------------------------------------------
CURRENT PRIOR ACCRUED
UNPAID UNPAID
ACCRUED DISTRIBUTABLE DISTRIBUTABLE
CERTIFICATE CERTIFICATE CERTIFICATE PREPAYMENT
CLASS INTEREST INTEREST INTEREST PREMIUMS
- ----- ------------- ------------- ------------- --------
X-1(*) $ 52,618.95 0.00 0.00 0.00
X-2(*) $ 381,216.57 0.00 0.00 0.00
A-1 $ 152,314.40 0.00 0.00 0.00
A-2A $ 898,937.84 0.00 0.00 0.00
A-2B $ 958,691.33 0.00 0.00 0.00
B $ 95,260.83 0.00 0.00 0.00
C $ 203,794.50 0.00 0.00 0.00
D $ 125,411.00 0.00 0.00 0.00
E $ 108,326.17 0.00 0.00 0.00
F $ 46,424.58 0.00 0.00 0.00
G $ 193,997.38 0.00 0.00 0.00
H $ 85,918.00 0.00 0.00 0.00
J $ 17,180.75 0.00 0.00 0.00
K $ 63,027.09 0.00 0.00 0.00
R-II 0.00 0.00 0.00 0.00
TOTAL $3,383,119.39 0.00 0.00 0.00
NET
PREPAYMENT PREPAYMENT DISTRIBUTABLE
INTEREST INTEREST ADDITIONAL CERTIFICATE
CLASS EXCESSES SHORTFALLS ADJUSTMENTS INTEREST
- ----- -------- ---------- ----------- --------------
X-1(*) 0.00 0.00 0.00 $ 52,618.95
X-2(*) 0.00 0.00 0.00 $ 381,216.57
A-1 0.00 0.00 0.00 $ 152,314.40
A-2A 0.00 0.00 0.00 $ 898,937.84
A-2B 0.00 0.00 0.00 $ 958,691.33
B 0.00 0.00 0.00 $ 95,260.83
C 0.00 0.00 0.00 $ 203,794.50
D 0.00 0.00 0.00 $ 125,411.00
E 0.00 0.00 0.00 $ 108,326.17
F 0.00 0.00 0.00 $ 46,424.58
G 0.00 0.00 0.00 $ 193,997.38
H 0.00 0.00 0.00 $ 85,918.00
J 0.00 0.00 0.00 $ 17,180.75
K 0.00 0.00 0.00 $ 63,027.09
R-II 0.00 0.00 $393.05 $ 393.05
TOTAL 0.00 0.00 $393.05 $3,383,512.44
- ----------
(*) based on a Notional Balance
Page 3 of 9
<PAGE>
Corporate Trust Department
Securities Administration
Report to Certificaholders
Mortgage Capital Funding, Inc.,
Multifamily \ Commercial Mortgage-Pass-Through Certificates,
Series 1996-MC1
Payment Date: December 15, 1996
- --------------------------------------------------------------------------------
PRINCIPAL DISTRIBUTION PER CERTIFICATE
- --------------------------------------------------------------------------------
PRINCIPAL
DISTRIBUTION PRINCIPAL NET
CLASS AMOUNT SHORTFALL DISTRIBUTION
- ----- ------ --------- ------------
X-1(*) 0.00000 0.00000 0.00000
X-2(*) 0.00000 0.00000 0.00000
A-1 0.82397 0.00000 0.82397
A-2A 3.06313 0.00000 3.06313
A-2B 0.00000 0.00000 0.00000
B 0.00000 0.00000 0.00000
C 0.00000 0.00000 0.00000
D 0.00000 0.00000 0.00000
E 0.00000 0.00000 0.00000
F 0.00000 0.00000 0.00000
G 0.00000 0.00000 0.00000
H 0.00000 0.00000 0.00000
J 0.00000 0.00000 0.00000
K 0.00000 0.00000 0.00000
R-II 0.00000 0.00000 0.00000
- ----------
(*) based on a Notional Balance
Page 4 of 9
<PAGE>
Corporate Trust Department
Securities Administration
Report to Certificaholders
Mortgage Capital Funding, Inc.,
Multifamily \ Commercial Mortgage-Pass-Through Certificates,
Series 1996-MC1
Payment Date: December 15, 1996
- --------------------------------------------------------------------------------
INTEREST DISTRIBUTION PER CERTIFICATE
- --------------------------------------------------------------------------------
CURRENT PRIOR ACCRUED
UNPAID UNPAID
ACCRUED DISTRIBUTABLE DISTRIBUTABLE
CERTIFICATE CERTIFICATE CERTIFICATE PREPAYMENT
CLASS INTEREST INTEREST INTEREST PREMIUMS
- ----- ----------- ------------- -------------- ----------
X-1(*) 1.75590 0.00000 0.00000 0.00000
X-2(*) 0.79111 0.00000 0.00000 0.00000
A-1 5.08275 0.00000 0.00000 0.00000
A-2A 5.99292 0.00000 0.00000 0.00000
A-2B 6.58333 0.00000 0.00000 0.00000
B 6.58333 0.00000 0.00000 0.00000
C 6.50000 0.00000 0.00000 0.00000
D 6.50000 0.00000 0.00000 0.00000
E 6.41667 0.00000 0.00000 0.00000
F 6.41667 0.00000 0.00000 0.00000
G 5.95833 0.00000 0.00000 0.00000
H 4.75000 0.00000 0.00000 0.00000
J 4.75000 0.00000 0.00000 0.00000
K 4.75000 0.00000 0.00000 0.00000
R-II 0.00000 0.00000 0.00000 0.00000
NET
PREPAYMENT PREPAYMENT DISTRIBUTABLE
INTEREST INTEREST ADDITIONAL CERTIFICATE
CLASS EXCESSES SHORTFALLS ADJUSTMENTS INTEREST
- ----- ---------- ---------- ----------- -------------
X-1(*) 0.00000 0.00000 0.00000 1.75590
X-2(*) 0.00000 0.00000 0.00000 0.79111
A-1 0.00000 0.00000 0.00000 5.08275
A-2A 0.00000 0.00000 0.00000 5.99292
A-2B 0.00000 0.00000 0.00000 6.58333
B 0.00000 0.00000 0.00000 6.58333
C 0.00000 0.00000 0.00000 6.50000
D 0.00000 0.00000 0.00000 6.50000
E 0.00000 0.00000 0.00000 6.41667
F 0.00000 0.00000 0.00000 6.41667
G 0.00000 0.00000 0.00000 5.95833
H 0.00000 0.00000 0.00000 4.75000
J 0.00000 0.00000 0.00000 4.75000
K 0.00000 0.00000 0.00000 4.75000
R-II 0.00000 0.00000 393.050 393.050
- ----------
(*) based on a Notional Balance
Page 5 of 9
<PAGE>
Corporate Trust Department
Securities Administration
Report to Certificaholders
Mortgage Capital Funding, Inc.,
Multifamily \ Commercial Mortgage-Pass-Through Certificates,
Series 1996-MC1
Payment Date: December 15, 1996
- --------------------------------------------------------------------------------
CLASS BALANCES
- --------------------------------------------------------------------------------
ADDITIONAL
BEGINNING REALIZED TRUST FUND ENDING
CLASS BALANCE PRINCIPAL LOSSES EXPENSES BALANCE
- ----- --------------- ----------- -------- ---------- ---------------
X-1(*) $ 29,865,568.87 0.00 0.00 0.00 $ 29,840,877.07
X-2(*) $478,544,570.41 0.00 0.00 0.00 $478,060,894.00
A-1 $ 29,865,569.02 $ 24,691.80 0.00 0.00 $ 29,840,877.22
A-2A $146,765,361.50 $459,469.25 0.00 0.00 $146,305,892.25
A-2B $145,624,000.00 0.00 0.00 0.00 $145,624,000.00
B $ 14,470,000.00 0.00 0.00 0.00 $ 14,470,000.00
C $ 31,353,000.00 0.00 0.00 0.00 $ 31,353,000.00
D $ 19,294,000.00 0.00 0.00 0.00 $ 19,294,000.00
E $ 16,882,000.00 0.00 0.00 0.00 $ 16,882,000.00
F $ 7,235,000.00 0.00 0.00 0.00 $ 7,235,000.00
G $ 32,559,000.00 0.00 0.00 0.00 $ 32,559,000.00
H $ 18,088,000.00 0.00 0.00 0.00 $ 18,088,000.00
J $ 3,617,000.00 0.00 0.00 0.00 $ 3,617,000.00
K $ 13,268,861.00 0.00 0.00 0.00 $ 13,268,861.00
R-II 0.00 0.00 0.00 0.00 0.00
TOTAL $479,021,791.52 $484,161.05 0.00 0.00 $478,537,630.47
- ----------
(*) based on a Notional Balance
Page 6 of 9
<PAGE>
Corporate Trust Department
Securities Administration
Report to Certificaholders
Mortgage Capital Funding, Inc.,
Multifamily \ Commercial Mortgage-Pass-Through Certificates,
Series 1996-MC1
Payment Date: December 15, 1996
- --------------------------------------------------------------------------------
DELINQUENCY AND SPECIALLY SERVICED STATISTICS
- --------------------------------------------------------------------------------
ONE TWO THREE+ SPECIALLY
MONTH MONTHS MONTHS SERVICED FORECLOSURES
- --------------------------------------------------------------------------------
Number in Loan Group 1 0 0 0 0 0
Unpaid Principal Balance 0.00 0.00 0.00 0.00 0.00
Number in Loan Group 2 0 0 0 0 0
Unpaid Principal Balance 0.00 0.00 0.00 0.00 0.00
Number in Mortgage Pool 0 0 0 0 0
Unpaid Principal Balance 0.00 0.00 0.00 0.00 0.00
- --------------------------------------------------------------------------------
PROPERITIES WHICH BECAME REO PROPERTIES DURING THE RELATED COLLECTION PERIOD
- --------------------------------------------------------------------------------
ONE TWO THREE+ SPECIALLY
MONTH MONTHS MONTHS SERVICED FORECLOSURES
- --------------------------------------------------------------------------------
Stated Principal Balance 0.00 0.00 0.00 0.00 0.00
Unpaid Principal Balance 0.00 0.00 0.00 0.00 0.00
- --------------------------------------------------------------------------------
MORTGAGE LOANS REPURCHASED, LIQUIDATED OR DISPOSED OF DURING THE RELATED
COLLATERAL PERIOD
- --------------------------------------------------------------------------------
ONE TWO THREE+ SPECIALLY
MONTH MONTHS MONTHS SERVICED FORECLOSURES
- --------------------------------------------------------------------------------
Loan Number 0 0 0 0 0
Liquidation Proceeds 0.00 0.00 0.00 0.00 0.00
Portion in Available
Distribution Amount 0.00 0.00 0.00 0.00 0.00
- --------------------------------------------------------------------------------
REO PROPERTIES INCLUDED IN THE TRUST FUND AS OF THE LAST DAY OF THE
COLLECTION PERIOD
- --------------------------------------------------------------------------------
ONE TWO THREE+ SPECIALLY
MONTH MONTHS MONTHS SERVICED FORECLOSURES
- --------------------------------------------------------------------------------
Loan Number 0 0 0 0 0
Book Value 0.00 0.00 0.00 0.00 0.00
Income Collected 0.00 0.00 0.00 0.00 0.00
Portion in Available
Distribution Amount 0.00 0.00 0.00 0.00 0.00
- --------------------------------------------------------------------------------
REO PROPERTIES SOLD OR DISPOSED OF DURING THE RELATED COLLECTION PERIOD
- --------------------------------------------------------------------------------
ONE TWO THREE+ SPECIALLY
MONTH MONTHS MONTHS SERVICED FORECLOSURES
- --------------------------------------------------------------------------------
Loan Number 0 0 0 0 0
Liquidation Proceeds 0.00 0.00 0.00 0.00 0.00
Portion in Available
Distribution Amount 0.00 0.00 0.00 0.00 0.00
Final Recovery
Determination 0.00 0.00 0.00 0.00 0.00
- --------------------------------------------------------------------------------
PRINCIPAL PREPAYMENTS, PREPAYMENT INTEREST EXCESSES, PREPAYMENT INTEREST
SHORTFALLS
- --------------------------------------------------------------------------------
LOAN LOAN
GROUP1 GROUP2
- --------------------------------------------------------------------------------
Principal Prepayments 0.00 0.00
Prepayment Interest Excesses 0.00 0.00
Prepayment Interest Shortfalls 0.00 0.00
- --------------------------------------------------------------------------------
Page 7 of 9
<PAGE>
Corporate Trust Department
Securities Administration
Report to Certificaholders
Mortgage Capital Funding, Inc.,
Multifamily \ Commercial Mortgage-Pass-Through Certificates,
Series 1996-MC1
Payment Date: December 15, 1996
- --------------------------------------------------------------------------------
OTHER INFORMATION
- --------------------------------------------------------------------------------
Aggregate Incurred Realized Losses $ 0.00
Aggregate Incurred Additional Trust Fund Expenses $ 0.00
Aggregate Servicing Compensation $86,439.76
Master Servicer Compensation $84,443.83
Special Servicer Compensation $ 1,995.93
Aggregate P & I Advances Outstanding on
the prior Distribution Date for:
the Master Servicer 0.00
the Special Servicer 0.00
the Trustee 0.00
Aggregate Appraisal Reduction Amount 0.00
- --------------------------------------------------------------------------------
APPRAISAL REDUCTION AMOUNTS
- --------------------------------------------------------------------------------
Loan Number 0 0 0 0
Appraisal Reduction Amount 0.00 0.00 0.00 0.00
- --------------------------------------------------------------------------------
AGGREGATE AMOUNT OF BALLOON PAYMENT INTEREST EXCESSESS AND SHORTFALLS
- --------------------------------------------------------------------------------
LOAN LOAN
GROUP1 GROUP2
- --------------------------------------------------------------------------------
Balloon Payment Interest Excesses 0.00 0.00
Balloon Payment Interest Shortfalls 0.00 0.00
<TABLE>
<CAPTION>
- -----------------------------------------------------------------------------------------
AGGREGATE COLLATERAL INFORMATION
- -----------------------------------------------------------------------------------------
LOAN LOAN MORTGAGE
GROUP1 GROUP2 POOL
--------------- --------------- ---------------
<S> <C> <C> <C>
Number of Outstanding Mortgage Loans 8 167 175
Stated Principal Balance of Mortgage
Loans before Distribution $ 29,865,569.02 $449,158,024.81 $479,023,593.83
Stated Principal Balance of Mortgage
Loans after Distribution $ 29,840,877.22 $448,698,555.56 $478,539,432.78
% of Cut-Off-Date Balance
Outstanding after Distribution 99.58% 99.18% 99.21%
</TABLE>
Page 8 of 9
<PAGE>
Corporate Trust Department
Securities Administration
Report to Certificaholders
Mortgage Capital Funding, Inc.,
Multifamily/Commercial Mortgage-Pass-Through Certificates,
Series 1996-MC1
Payment Date: December 15, 1996
- --------------------------------------------------------------------------------
OTHER INFORMATION
- --------------------------------------------------------------------------------
ASER Loan/Aggregate Information and SER Information:
* Please see annex A on the State Street Bank and Trust Company's Tradewinds
Bulletin Board Dial 617/664-5380
Page 9 of 9
Corporate Trust Department
Securities Administration
Report to Certificaholders
- --------------------------------------------------------------------------------
CONTENTS
- --------------------------------------------------------------------------------
CONTENT PAGE NUMBER
------- -----------
QUICK REFERENCE ...............I FACTOR SHEET ..................... 4&5
FOR EASY ISSUE AND FACTOR FOR DETAILED INFORMATION
INFORMATION
PAYMENT SUMMARY ...............1 BALANCE INFORMATION .............. 6
FOR SECURITY AND COLLATERAL
BALANCE INFORMATION
PAYMENT DETAIL ................2&3 DELINQUENCY AND OTHER ............ 7
INFORMATION
- --------------------------------------------------------------------------------
Mortgage Capital Funding, Inc.,
Multifamily \ Commercial Mortgage-Pass-Through Certificates,
Series 1996-MC1
Payment Date: January 15, 1997
- --------------------------------------------------------------------------------
QUICK REFERENCE
- --------------------------------------------------------------------------------
BEGINNING PASS
CERTIFICATE THROUGH INTEREST PRINCIPAL
CLASS CUSIP FACTOR RATE TYPE DISTRIBUTION(1)
- ----- --------- ----------- -------- -------- ---------------
X-1(*) 61910DBE1 0.99579 2.11424% Variable 0.00000
X-2(*) 61910DBF8 0.99208 0.95582% Variable 0.00000
A-1 61910DBG6 0.99579 6.12000% Variable 0.82981
A-2A 61910DBH4 0.97537 7.35000% Fixed 15.3174
A-2B 61910DBJ0 1.00000 7.90000% Fixed 0.00000
B 61910DBK7 1.00000 7.90000% Fixed 0.00000
C 61910DBL5 1.00000 7.80000% Fixed 0.00000
D 61910DBM3 1.00000 7.80000% Fixed 0.00000
E 61910DBN1 1.00000 7.70000% Fixed 0.00000
F 61910DBP6 1.00000 7.70000% Fixed 0.00000
G 61910DBQ4 1.00000 7.15000% Fixed 0.00000
H 61910DBR2 1.00000 5.70000% Fixed 0.00000
J 61910DBS0 1.00000 5.70000% Fixed 0.00000
K 61910DBT8 1.00000 5.70000% Fixed 0.00000
R-II N/A 0.00000 0.00000% N/A 0.00000
ENDING
INTEREST CERTIFICATE
CLASS DISTRIBUTION(1) FACTOR
- ------ --------------- -----------
X-1(*) 1.75445 0.99496
X-2(*) 0.86400 0.99727
A-1 5.07854 0.99496
A-2A 6.04353 0.96006
A-2B 6.58333 1.00000
B 6.58333 1.00000
C 6.50000 1.00000
D 6.50000 1.00000
E 6.41667 1.00000
F 6.41667 1.00000
G 5.95833 1.00000
H 4.75000 1.00000
J 4.75000 1.00000
K 4.75000 1.00000
R-II 392.420 0.00000
- ----------
(1) represents net payment per certificate
(*) based on a Notional Balance
NOTE: There are no Principal Adjustments or Losses to report this period. There
is no Negative Amortization to report this period.
Account Administrator: William T. Oberlies, Ph. (617)664-5420
Account Officer: William G. Swan, Ph. (617) 664-5469
Street Connection: for Factor & Rate by CUSIP, Ph. (617) 664-5500
<PAGE>
Corporate Trust Department
Securities Administration
Report to Certificaholders
Mortgage Capital Funding, Inc.,
Multifamily \ Commercial Mortgage-Pass-Through Certificates,
Series 1996-MC1
Payment Date: January 15, 1997
- --------------------------------------------------------------------------------
PAYMENT SUMMARY
- --------------------------------------------------------------------------------
PRINCIPAL
DISTRIBUTION PRINCIPAL ACCRUED INTEREST TOTAL
CLASS AMOUNT ADJUSTMENTS INTEREST ADJUSTMENTS(2) PAYABLE
- ------ ------------- ----------- ------------- -------------- -------------
X-1(*) 0.00 0.00 $ 52,575.66 0.00 $ 52,575.66
X-2(*) 0.00 0.00 $ 380,781.63 $35,558.74 $ 416,340.37
A-1 $ 24,866.79 0.00 $ 152,188.47 0.00 $ 177,055.26
A-2A $2,297,618.60 0.00 $ 896,123.59 $10,405.51 $3,204,147.70
A-2B 0.00 0.00 $ 958,691.33 0.00 $ 958,691.33
B 0.00 0.00 $ 95,260.83 0.00 $ 95,260.83
C 0.00 0.00 $ 203,794.50 0.00 $ 203,794.50
D 0.00 0.00 $ 125,411.00 0.00 $ 125,411.00
E 0.00 0.00 $ 108,326.17 0.00 $ 108,326.17
F 0.00 0.00 $ 46,424.58 0.00 $ 46,424.58
G 0.00 0.00 $ 193,997.38 0.00 $ 193,997.38
H 0.00 0.00 $ 85,918.00 0.00 $ 85,918.00
J 0.00 0.00 $ 17,180.75 0.00 $ 17,180.75
K 0.00 0.00 $ 63,027.09 0.00 $ 63,027.09
R-II 0.00 0.00 0.00 $ 392.42 $ 393.05
TOTAL $2,322,485.39 0.00 $3,373,700.98 $46,356.67 5,748,543.04
- ----------
(2) for complete information see Payment Detail
(*) based on a Notional Balance
DISCLAIMER NOTICE
-----------------
Notice: This report has been prepared by or based on information furnished to
State Street Bank and Trust Company ( State Street )by one or more third parties
(e.g., Servicer, Master Servicer, etc.). State Steeet shall not have and does
not undertake responsibility for the accuracy or completeness of information
provided by such third parties, and makes no representation or warranty with
respect to the accuracy or completeness thereof or the sufficiency thereof for
any particular purpose. State Street has not independently verified information
received from third parties, and shall have no liability for any inaccuracies
therein or caused thereby.
Page 1 of 9
<PAGE>
Corporate Trust Department
Securities Administration
Report to Certificaholders
Mortgage Capital Funding, Inc.,
Multifamily \ Commercial Mortgage-Pass-Through Certificates,
Series 1996-MC1
Payment Date: January 15, 1997
- --------------------------------------------------------------------------------
PRINCIPAL DISTRIBUTION DETAIL
- --------------------------------------------------------------------------------
PRINCIPAL
DISTRIBUTION PRINCIPAL NET
CLASS AMOUNT SHORTFALL DISTRIBUTION
- ----- ------------ --------- ------------
X-1(*) 0.00 0.00 0.00
X-2(*) 0.00 0.00 0.00
A-1 $ 24,866.79 0.00 $ 24,866.79
A-2A $2,297,618.60 0.00 $2,297,618.60
A-2B 0.00 0.00 0.00
B 0.00 0.00 0.00
C 0.00 0.00 0.00
D 0.00 0.00 0.00
E 0.00 0.00 0.00
F 0.00 0.00 0.00
G 0.00 0.00 0.00
H 0.00 0.00 0.00
J 0.00 0.00 0.00
K 0.00 0.00 0.00
R-II 0.00 0.00 0.00
TOTAL $2,322,485.39 0.00 $2,322,485.39
- ----------
(*) based on a Notional Balance
Page 2 of 9
<PAGE>
Corporate Trust Department
Securities Administration
Report to Certificaholders
Mortgage Capital Funding, Inc.,
Multifamily \ Commercial Mortgage-Pass-Through Certificates,
Series 1996-MC1
Payment Date: January 15, 1997
- --------------------------------------------------------------------------------
INTEREST DISTRIBUTION DETAIL
- --------------------------------------------------------------------------------
CURRENT PRIOR ACCRUED
UNPAID UNPAID
ACCRUED DISTRIBUTABLE DISTRIBUTABLE
CERTIFICATE CERTIFICATE CERTIFICATE PREPAYMENT
CLASS INTEREST INTEREST INTEREST PREMIUMS
- ----- ------------- ------------- ------------- ----------
X-1(*) $ 52,575.66 0.00 0.00 0.00
X-2(*) $ 380,781.63 0.00 0.00 $35,558.74
A-1 $ 152,188.47 0.00 0.00 0.00
A-2A $ 896,691.33 0.00 0.00 $10,405.51
A-2B $ 958,691.33 0.00 0.00 0.00
B $ 95,260.83 0.00 0.00 0.00
C $ 203,794.50 0.00 0.00 0.00
D $ 125,411.00 0.00 0.00 0.00
E $ 108,326.17 0.00 0.00 0.00
F $ 46,424.58 0.00 0.00 0.00
G $ 193,997.38 0.00 0.00 0.00
H $ 85,918.00 0.00 0.00 0.00
J $ 17,180.75 0.00 0.00 0.00
K $ 63,027.09 0.00 0.00 0.00
R-II 0.00 0.00 0.00 0.00
TOTAL $3,379,700.98 0.00 0.00 $45,964.25
NET
PREPAYMENT PREPAYMENT DISTRIBUTABLE
INTEREST INTEREST ADDITIONAL CERTIFICATE
CLASS EXCESSES SHORTFALLS ADJUSTMENTS INTEREST
- ----- ---------- ---------- ----------- -------------
X-1(*) 0.00 0.00 0.00 $ 52,575.66
X-2(*) 0.00 0.00 0.00 $ 416,340.37
A-1 0.00 0.00 0.00 $ 152,188.47
A-2A 0.00 0.00 0.00 $ 906,529.10
A-2B 0.00 0.00 0.00 $ 958,691.33
B 0.00 0.00 0.00 $ 95,260.83
C 0.00 0.00 0.00 $ 203,794.50
D 0.00 0.00 0.00 $ 125,411.00
E 0.00 0.00 0.00 $ 108,326.17
F 0.00 0.00 0.00 $ 46,424.58
G 0.00 0.00 0.00 $ 193,997.38
H 0.00 0.00 0.00 $ 85,918.00
J 0.00 0.00 0.00 $ 17,180.75
K 0.00 0.00 0.00 $ 63,027.09
R-II 0.00 0.00 $392.42 $ 392.42
TOTAL 0.00 0.00 $392.42 $3,426,057.65
- ----------
(*) based on a Notional Balance
Page 3 of 9
<PAGE>
Corporate Trust Department
Securities Administration
Report to Certificaholders
Mortgage Capital Funding, Inc.,
Multifamily \ Commercial Mortgage-Pass-Through Certificates,
Series 1996-MC1
Payment Date: January 15, 1997
- --------------------------------------------------------------------------------
PRINCIPAL DISTRIBUTION PER CERTIFICATE
- --------------------------------------------------------------------------------
PRINCIPAL
DISTRIBUTION PRINCIPAL NET
CLASS AMOUNT SHORTFALL DISTRIBUTION
- ----- ------ --------- ------------
X-1(*) 0.00000 0.00000 0.00000
X-2(*) 0.00000 0.00000 0.00000
A-1 0.82981 0.00000 0.82981
A-2A 15.3174 0.00000 15.3174
A-2B 0.00000 0.00000 0.00000
B 0.00000 0.00000 0.00000
C 0.00000 0.00000 0.00000
D 0.00000 0.00000 0.00000
E 0.00000 0.00000 0.00000
F 0.00000 0.00000 0.00000
G 0.00000 0.00000 0.00000
H 0.00000 0.00000 0.00000
J 0.00000 0.00000 0.00000
K 0.00000 0.00000 0.00000
R-II 0.00000 0.00000 0.00000
(*) based on a Notional Balance
Page 4 of 9
<PAGE>
Corporate Trust Department
Securities Administration
Report to Certificaholders
Mortgage Capital Funding, Inc.,
Multifamily \ Commercial Mortgage-Pass-Through Certificates,
Series 1996-MC1
Payment Date: January 15, 1997
- --------------------------------------------------------------------------------
INTEREST DISTRIBUTION PER CERTIFICATE
- --------------------------------------------------------------------------------
CURRENT PRIOR ACCRUED
UNPAID UNPAID
ACCRUED DISTRIBUTABLE DISTRIBUTABLE
CERTIFICATE CERTIFICATE CERTIFICATE PREPAYMENT
CLASS INTEREST INTEREST INTEREST PREMIUMS
- ----- -------- -------- -------- --------
X-1(*) 1.75445 0.00000 0.00000 0.00000
X-2(*) 0.79021 0.00000 0.00000 0.07379
A-1 5.07854 0.00000 0.00000 0.00000
A-2A 5.97416 0.00000 0.00000 0.06937
A-2B 6.58333 0.00000 0.00000 0.00000
B 6.58333 0.00000 0.00000 0.00000
C 6.50000 0.00000 0.00000 0.00000
D 6.50000 0.00000 0.00000 0.00000
E 6.41667 0.00000 0.00000 0.00000
F 6.41667 0.00000 0.00000 0.00000
G 5.95833 0.00000 0.00000 0.00000
H 4.75000 0.00000 0.00000 0.00000
J 4.75000 0.00000 0.00000 0.00000
K 4.75000 0.00000 0.00000 0.00000
R-II 0.00000 0.00000 0.00000 0.00000
NET
PREPAYMENT PREPAYMENT DISTRIBUTABLE
INTEREST INTEREST ADDITIONAL CERTIFICATE
CLASS EXCESSES SHORTFALLS ADJUSTMENTS INTEREST
- ----- ---------- ---------- ----------- -------------
X-1(*) 0.00000 0.00000 0.00000 1.75445
X-2(*) 0.00000 0.00000 0.00000 0.86400
A-1 0.00000 0.00000 0.00000 5.07854
A-2A 0.00000 0.00000 0.00000 6.04353
A-2B 0.00000 0.00000 0.00000 6.58333
B 0.00000 0.00000 0.00000 6.58333
C 0.00000 0.00000 0.00000 6.50000
D 0.00000 0.00000 0.00000 6.50000
E 0.00000 0.00000 0.00000 6.41667
F 0.00000 0.00000 0.00000 6.41667
G 0.00000 0.00000 0.00000 5.95833
H 0.00000 0.00000 0.00000 4.75000
J 0.00000 0.00000 0.00000 4.75000
K 0.00000 0.00000 0.00000 4.75000
R-II 0.00000 0.00000 392.420 392.420
- ----------
(*) based on a Notional Balance
Page 5 of 9
<PAGE>
Corporate Trust Department
Securities Administration
Report to Certificaholders
Mortgage Capital Funding, Inc.,
Multifamily \ Commercial Mortgage-Pass-Through Certificates,
Series 1996-MC1
Payment Date: January 15, 1997
- --------------------------------------------------------------------------------
CLASS BALANCES
- --------------------------------------------------------------------------------
ADDITIONAL
BEGINNING REALIZED TRUST FUND ENDING
CLASS BALANCE PRINCIPAL LOSSES EXPENSES BALANCE
- ----- --------------- ------------- -------- ---------- ---------------
X-1(*) $ 29,840,877.07 0.00 0.00 0.00 $ 29,816,010.28
X-2(*) $478,060,893.52 0.00 0.00 0.00 $475,740,731.00
A-1 $ 29,840,877.22 $ 24,866.79 0.00 0.00 $ 29,816,010.43
A-2A $146,305,892.25 $2,297,618.60 0.00 0.00 $144,008,273.65
A-2B $145,624,000.00 0.00 0.00 0.00 $145,624,000.00
B $ 14,470,000.00 0.00 0.00 0.00 $ 14,470,000.00
C $ 31,353,000.00 0.00 0.00 0.00 $ 31,353,000.00
D $ 19,294,000.00 0.00 0.00 0.00 $ 19,294,000.00
E $ 16,882,000.00 0.00 0.00 0.00 $ 16,882,000.00
F $ 7,235,000.00 0.00 0.00 0.00 $ 7,235,000.00
G $ 32,559,000.00 0.00 0.00 0.00 $ 32,559,000.00
H $ 18,088,000.00 0.00 0.00 0.00 $ 18,088,000.00
J $ 3,617,000.00 0.00 0.00 0.00 $ 3,617,000.00
K $ 13,268,861.00 0.00 0.00 0.00 $ 13,268,861.00
R-II 0.00 0.00 0.00 0.00 0.00
TOTAL $478,537,630.47 $2,322,485.39 0.00 0.00 $476,215,145.08
- ----------
(*) based on a Notional Balance
Page 6 of 9
<PAGE>
Corporate Trust Department
Securities Administration
Report to Certificaholders
Mortgage Capital Funding, Inc.,
Multifamily \ Commercial Mortgage-Pass-Through Certificates,
Series 1996-MC1
Payment Date: January 15, 1997
- --------------------------------------------------------------------------------
DELINQUENCY AND SPECIALLY SERVICED STATISTICS
- --------------------------------------------------------------------------------
ONE TWO THREE+ SPECIALLY
MONTH MONTHS MONTHS SERVICED FORECLOSURES
- --------------------------------------------------------------------------------
Number in Loan Group 1 0 0 0 0 0
Unpaid Principal Balance 0.00 0.00 0.00 0.00 0.00
Number in Loan Group 2 0 0 0 0 0
Unpaid Principal Balance 0.00 0.00 0.00 0.00 0.00
Number in Mortgage Pool 0 0 0 0 0
Unpaid Principal Balance 0.00 0.00 0.00 0.00 0.00
- --------------------------------------------------------------------------------
PROPERITIES WHICH BECAME REO PROPERTIES DURING THE RELATED COLLECTION PERIOD
- --------------------------------------------------------------------------------
ONE TWO THREE+ SPECIALLY
MONTH MONTHS MONTHS SERVICED FORECLOSURES
- --------------------------------------------------------------------------------
Stated Principal Balance 0.00 0.00 0.00 0.00 0.00
Unpaid Principal Balance 0.00 0.00 0.00 0.00 0.00
- --------------------------------------------------------------------------------
MORTGAGE LOANS REPURCHASED, LIQUIDATED OR DISPOSED OF DURING THE RELATED
COLLATERAL PERIOD
- --------------------------------------------------------------------------------
ONE TWO THREE+ SPECIALLY
MONTH MONTHS MONTHS SERVICED FORECLOSURES
- --------------------------------------------------------------------------------
Loan Number 0 0 0 0 0
Liquidation Proceeds 0.00 0.00 0.00 0.00 0.00
Portion in Available
Distribution Amount 0.00 0.00 0.00 0.00 0.00
- --------------------------------------------------------------------------------
REO PROPERTIES INCLUDED IN THE TRUST FUND AS OF THE LAST DAY OF THE
COLLECTION PERIOD
- --------------------------------------------------------------------------------
ONE TWO THREE+ SPECIALLY
MONTH MONTHS MONTHS SERVICED FORECLOSURES
- --------------------------------------------------------------------------------
Loan Number 0 0 0 0 0
Book Value 0.00 0.00 0.00 0.00 0.00
Income Collected 0.00 0.00 0.00 0.00 0.00
Portion in Available
Distribution Amount 0.00 0.00 0.00 0.00 0.00
- --------------------------------------------------------------------------------
REO PROPERTIES SOLD OR DISPOSED OF DURING THE RELATED COLLECTION PERIOD
- --------------------------------------------------------------------------------
ONE TWO THREE+ SPECIALLY
MONTH MONTHS MONTHS SERVICED FORECLOSURES
- --------------------------------------------------------------------------------
Loan Number 0 0 0 0 0
Liquidation Proceeds 0.00 0.00 0.00 0.00 0.00
Portion in Available
Distribution Amount 0.00 0.00 0.00 0.00 0.00
Final Recovery
Determination 0.00 0.00 0.00 0.00 0.00
- --------------------------------------------------------------------------------
PRINCIPAL PREPAYMENTS, PREPAYMENT INTEREST EXCESSES, PREPAYMENT INTEREST
SHORTFALLS
- --------------------------------------------------------------------------------
LOAN LOAN
GROUP1 GROUP2
- --------------------------------------------------------------------------------
Principal Prepayments 0.00 $1,838,570.13
Prepayment Interest Excesses 0.00 0.00
Prepayment Interest Shortfalls 0.00 0.00
- --------------------------------------------------------------------------------
Page 7 of 9
<PAGE>
Corporate Trust Department
Securities Administration
Report to Certificaholders
Mortgage Capital Funding, Inc.,
Multifamily \ Commercial Mortgage-Pass-Through Certificates,
Series 1996-MC1
Payment Date: January 15, 1997
- --------------------------------------------------------------------------------
OTHER INFORMATION
- --------------------------------------------------------------------------------
Aggregate Incurred Realized Losses $ 0.00
Aggregate Incurred Additional Trust Fund Expenses $ 0.00
Aggregate Servicing Compensation $86,346.31
Master Servicer Compensation $84,352.40
Special Servicer Compensation $ 1,993.91
Aggregate P & I Advances Outstanding on
the prior Distribution Date for:
the Master Servicer 0.00
the Special Servicer 0.00
the Trustee 0.00
Aggregate Appraisal Reduction Amount 0.00
- --------------------------------------------------------------------------------
APPRAISAL REDUCTION AMOUNTS
- --------------------------------------------------------------------------------
Loan Number 0 0 0 0
Appraisal Reduction Amount 0.00 0.00 0.00 0.00
- --------------------------------------------------------------------------------
AGGREGATE AMOUNT OF BALLOON PAYMENT INTEREST EXCESSESS AND SHORTFALLS
- --------------------------------------------------------------------------------
LOAN LOAN
GROUP1 GROUP2
- --------------------------------------------------------------------------------
Balloon Payment Interest Excesses 0.00 0.00
Balloon Payment Interest Shortfalls 0.00 0.00
- --------------------------------------------------------------------------------
<TABLE>
<CAPTION>
- -----------------------------------------------------------------------------------------
AGGREGATE COLLATERAL INFORMATION
- -----------------------------------------------------------------------------------------
LOAN LOAN MORTGAGE
GROUP1 GROUP2 POOL
--------------- --------------- ---------------
<S> <C> <C> <C>
Number of Outstanding Mortgage Loans 8 166 174
Stated Principal Balance of Mortgage
Loans before Distribution $29,840,877.22 $448,698,555.56 $478,539,432.78
Stated Principal Balance of Mortgage
Loans after Distribution $29,816,010.43 $446,400,936.96 $476,216,947.39
% of Cut-Off-Date Balance
Outstanding after Distribution 99.50% 98.68% 98.73%
- -----------------------------------------------------------------------------------------
</TABLE>
Page 8 of 9
<PAGE>
Corporate Trust Department
Securities Administration
Report to Certificaholders
Mortgage Capital Funding, Inc.,
Multifamily/Commercial Mortgage-Pass-Through Certificates,
Series 1996-MC1
Payment Date: January 15, 1997
- --------------------------------------------------------------------------------
OTHER INFORMATION
- --------------------------------------------------------------------------------
ASER Loan/Aggregate Information and SER Information:
* Please see annex A on the State Street Bank and Trust Company's Tradewinds
Bulletin Board Dial 617/664-5380
Page 9 of 9
