ABNAMRO LaSalle ABSTSSECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Seciton 13 or 15(d) of the
Securities Exchange Act of 1934
Date of Report(Date of earliest event reported): May 27,
1997
STRUCTURED ASSET SECURITIES CORPORATION
(Exact name of registrant as specified in its governing
instruments)
Arizona 33-92146 0742739
(State or other (Commission (I.R.S. Employer
Jurisdiction File Identification No.)
of Incorporation) Number)
2390 Camelback Road Suite 225
Phoenix, Arizona
85016
(Address of Principal Executive Offices) (Zip Code)
Registrant's telephone number, including area code:
(212) 526-5594
Item 5 Other Events.
Not applicable
Item 7. Financial Statements, Pro Forma Financial
Information and Exhibits
(a) Financial Statements
Not applicable
(b) Pro Forma Financial Information
Not applicable
( c)Exhibits
Item 601(a) of
Exhibit Regulation S-K
Number Exhibit No. Description
1 5
Pursuant to the requirements of the Securities Exchange Act
of 1934, as amended, the
registrant has duly caused this report to be signed on
behalf of the Registrant by the undersigned
thereunto duly authorized.
STRUCTURED ASSET
SECURITIES
CORPORATION
By: /s/Russell
Goldenberg
Name: Russell
Goldenberg
Title: Vice
President
Dated: May 27, 1997
EXHIBIT INDEX
Item 601(a) of
Exhibit Regulation S-K
Number Exhibit No. Description
ABN AMRO
LaSalle National Bank
Administrator:
Ryan Kutty (800) 246-5761
135 S. LaSalle Street Suite 1740
Chicago, IL 60603
American Southwest Financial Securities Corporation
(Greystone Servicing Corporation, Inc., as Master Servicer)
Commercial Mortgage Pass-Through Certificates
Series 1996-FHA1
ABN AMRO Acct: 67-7662-00-9
Statement Date: 05/27/97
Payment Date: 05/27/97
Prior Payment: 04/25/97
Record Date: 04/30/97
WAC: 8.518418%
WAMM: 379
Number Of Pages
Table Of Contents 1
REMIC Certificate Report 3
Other Related Information 3
Asset Backed Facts Sheets 1
Delinquency Loan Detail 1
Mortgage Loan Characteristics 2
Loan Level Listing 3
14
Specially Serviced Loan DetaiAppendix A
Modified Loan Detail Appendix B
Realized Loss Detail Appendix C
Remic III
Original Opening
Class Face Value (1) Balance
CUSIP Per $1,000 Per $1,000
S 266,510,464.00N 265,877,995.73
02970K BF 3 1000.000000000 997.626853893
A-1 40,317,000.00 38,033,728.59
02970K BG 1 1000.000000000 943.367031029
A-2 38,978,000.00 38,978,000.00
02970K BH 9 1000.000000000 1000.000000000
A-3 55,487,000.00 55,487,000.00
02970K BJ 5 1000.000000000 1000.000000000
A-4 58,824,000.00 58,824,000.00
02970K BK 2 1000.000000000 1000.000000000
A-Z 67,712,000.00 69,362,803.14
02970K BL 0 1000.000000000 1024.379772271
B 5,192,464.00 5,192,464.00
9ABSA236 1000.000000000 1000.000000000
R-III 0.00 0.00
9ABSA237 1000.000000000 0.000000000
266,510,464.00 265,877,995.73
Notes: (1) N denotes notional balance not included in total
Principal Principal Negative
Class Payment Adj. or Loss Amortization
CUSIP Per $1,000 Per $1,000 Per $1,000
S 0.00 0.00 0.00
02970K BF 3 0.000000000 0.000000000 0.000000000
A-1 577,999.06 0.00 0.00
02970K BG 1 14.336360840 0.000000000 0.000000000
A-2 0.00 0.00 0.00
02970K BH 9 0.000000000 0.000000000 0.000000000
A-3 0.00 0.00 0.00
02970K BJ 5 0.000000000 0.000000000 0.000000000
A-4 0.00 0.00 0.00
02970K BK 2 0.000000000 0.000000000 0.000000000
A-Z 0.00 0.00 418,951.33
02970K BL 0 0.000000000 0.000000000 6.187253810
B 0.00 0.00 0.00
9ABSA236 0.000000000 0.000000000 0.000000000
R-III 0.00 0.00 0.00
9ABSA237 0.000000000 0.000000000 0.000000000
577,999.06 0.00 418,951.33
Closing Interest Interest
Class Balance Payment Adjustment
CUSIP Per $1,000 Per $1,000 Per $1,000
S 265,718,948.00 277,754.74 0.00
02970K BF 3 997.030075337 1.042190749 0.000000000
A-1 37,455,729.53 211,562.62 0.00
02970K BG 1 929.030670189 5.247479227 0.000000000
A-2 38,978,000.00 227,371.67 0.00
02970K BH 9 1000.000000000 5.833333419 0.000000000
A-3 55,487,000.00 329,454.06 0.00
02970K BJ 5 1000.000000000 5.937499955 0.000000000
A-4 58,824,000.00 357,355.80 0.00
02970K BK 2 1000.000000000 6.075000000 0.000000000
A-Z 69,781,754.47 0.00 0.00
02970K BL 0 1030.567026081 0.000000000 0.000000000
B 5,192,464.00 28,125.85 0.00
9ABSA236 1000.000000000 5.416667309 0.000000000
R-III 0.00 0.00 0.00
9ABSA237 0.000000000 0.000000000 0.000000000
265,718,948.00 1,431,624.74 0.00
(2) Interest Paid minus Interest Adjustment minus Deferred
Interest equals Accrual
Pass-Through
Class Rate (2)
CUSIP Next Rate (3)
S 1.25360390%
02970K BF 3 1.25173441%
A-1 6.67500000%
02970K BG 1 Fixed
A-2 7.00000000%
02970K BH 9 Fixed
A-3 7.12500000%
02970K BJ 5 Fixed
A-4 7.29000000%
02970K BK 2 Fixed
A-Z 7.24800000%
02970K BL 0 Fixed
B 6.50000000%
9ABSA236 Fixed
R-III
9ABSA237
(3) Estimated
Remic II
Original Opening
Class Face Value (1)Balance
CUSIP Per $1,000 Per $1,000
A-1 40,317,000 37,779,575.27
None 1000.000000 937.063156
A-2 38,978,000 38,978,000.00
None 1000.000000 1000.000000
A-3 55,487,000 55,487,000.00
None 1000.000000 1000.000000
A-4 58,824,000 58,824,000.00
None 1000.000000 1000.000000
A-Z 67,712,000 69,616,956.46
None 1000.000000 1028.133218
B 5,192,46 5,192,464.00
None 1000.000000 1000.000000
R-II
9ABSA238 1000.000000 0.000000
266,510,464. 265,877,995.73
Principal Principal Negative
Class Payment Adj. or Loss Amortization
CUSIP Per $1,000 Per $1,000 Per $1,000
A-1 643,598.82 0.00 0.00
None 15.963460 0.000000 0.000000
A-2 0.00 0.00 0.00
None 0.000000 0.000000 0.000000
A-3 0.00 0.00 0.00
None 0.000000 0.000000 0.000000
A-4 0.00 0.00 0.00
None 0.000000 0.000000 0.000000
A-Z 0.00 0.00 484,551.09
None 0.000000 0.000000 7.156059
B 0.00 0.00 0.00
None 0.000000 0.000000 0.000000
R-II 0.00 0.00 0.00
9ABSA238 0.000000 0.000000 0.000000
643,598.82 0.00 484,551.09
Closing Interest Interest
Class Balance Payment Adjustment
CUSIP Per $1,000 Per $1,000 Per $1,000
A-1 37,135,976.45 262,955.11 0.00
None 921.099696 6.522189 0.000000
A-2 38,978,000.00 271,296.44 0.00
None 1000.000000 6.960245 0.000000
A-3 55,487,000.00 386,203.13 0.00
None 1000.000000 6.960245 0.000000
A-4 58,824,000.00 409,429.47 0.00
None 1000.000000 6.960245 0.000000
A-Z 70,101,507.55 0.00 0.00
None 1035.289277 0.000000 0.000000
B 5,192,464.00 36,140.82 0.00
None 1000.000000 6.960245 0.000000
R-II 0.00 0.00 0.00
9ABSA238 0.000000 0.000000 0.000000
265,718,948.00 1,366,024.97 0.00
Pass-Through
Class Rate (2)
CUSIP Next Rate (3)
A-1 8.35229434%
None 8.35227140%
A-2 8.35229434%
None 8.35227140%
A-3 8.35229434%
None 8.35227140%
A-4 8.35229434%
None 8.35227140%
A-Z 8.35229434%
None 8.35227140%
B 8.35229434%
None 8.35227140%
R-II 0.00000000%
9ABSA238 0.00000000%
Remic I
Original Opening
Class Face Value (1)Balance
CUSIP Per $1,000 Per $1,000
Regular Interes266,510,464.00265,877,995.73
None 1000.000000 997.626854
R-I 0.00 0.00
9ABSA239 1000.000000 0.000000
266,510,464.00265,877,995.73
Principal Principal Negative
Class Payment Adj. or Loss Amortization
CUSIP Per $1,000 Per $1,000 Per $1,000
Regular Interes 159,0 0.00 0.00
None 0.596779 0.000000 0.000000
R-I 0.00 0.00 0.00
9ABSA239 0.000000 0.000000 0.000000
159,047.73 0.00 0.00
Closing Interest Interest
Class Balance Payment Adjustment
CUSIP Per $1,000 Per $1,000 Per $1,000
Regular Interes265,718,948.00 1,850,576.07 0.00
None 997.030075 6.943728 0.000000
R-I 0.00 0.00 0.00
9ABSA239 0.000000 0.000000 0.000000
265,718,948.00 1,850,576.07 0.00
Pass-Through
Class Rate (2)
CUSIP Next Rate (3)
Regular Interes 8.35229434%
None 8.35227140%
R-I 0.00000000%
9ABSA239 0.00000000%
Other Related Information
Beginning
Loan Beginning
Asset Type Count Balance
Morgage Loans: 61 188,327,914.76
GNMA Certificat 20 77,550,080.97
FHA Debentures: 0 0.00
Total: 81 265,877,995.73
Current Wtd. Avg
Wtd. Avg. Term to
Asset Type Note Rate Maturity
Morgage Loans: 8.763% 373
GNMA Certificat 7.925% 393
FHA Debentures: 0.000% 0
Total: 8.518% 379
Ending
Loan Ending
Asset Type Count Balance
Morgage Loans: 61 188,209,508.07
GNMA Certificat 20 77,509,439.93
FHA Debentures: 0 0.00
Total: 81 265,718,948.00
Available Distribtion Amount: 2,009,623.80
Servicing Activity:
Prior Unreimbursed Advances: 8,040.32
Current Advances Made: 574,513.04
Reimbursed Prior Advances: 8,040.37
Advances Oustanding: 574,512.99
Aggregate Amount of Unpaid Advance Interest: 0.00
Current Accrued Servicing Fees Retained by The Master Serv
32,375.96
Aggregate Amount of Advance Interest Paid to Master Servic
0.00
Aggregate Amount of Advance Interest Paid to Trustee:
0.00
Accrued Net
Certificate Prepayment
Class Interest Int. Shortfalls
S 277,754.74 0.00
A-1 211,562.62 0.00
A-2 227,371.67 0.00
A-3 329,454.06 0.00
A-4 357,355.80 0.00
A-Z 418,951.33 0.00
B 28,125.85 0.00
R-III 0.00 0.00
Totals: 1,850,576.07 0.00
Allocated Prior Ending
Prepayment Unpaid Unpaid
Class Premiums Interest Interest
S 0.00 0.00 0.00
A-1 0.00 0.00 0.00
A-2 0.00 0.00 0.00
A-3 0.00 0.00 0.00
A-4 0.00 0.00 0.00
A-Z 0.00 0.00 0.00
B 0.00 0.00 0.00
R-III 0.00 0.00 0.00
Totals: 0.00 0.00 0.00
Other Actual
Interest Distribution
Class Shortfalls of Interest
S 0.00 277,754.74
A-1 0.00 211,562.62
A-2 0.00 227,371.67
A-3 0.00 329,454.06
A-4 0.00 357,355.80
A-Z 0.00 0.00
B 0.00 28,125.85
R-III 0.00 0.00
Totals: 0.00 1,431,624.74
Summary of Defaulted/Liquidated Mortgage Loans:
FHA Project Id *Status Date of Default
No Activity to Report During The Related Collection Period
Ending
FHA Project Id Balance FHA Benefits
No Activity to Report During The Related Collection Period
Liquidation Realized
FHA Project Id Proceeds Loss
No Activity to Report During The Related Collection Period
FHA Project Id Description of Final Recovery Determination
No Activity to Report During The Related Collection Period
Status of Claims Made Under the FHA Mortgage Insurance:
No Activity to Report During The Related Collection Period
Aggrregate Realized Loss Information :
Cumulative realized losses on the Collateral Pool as of Cu
0.00
Cumulative Principal realized losses on the Certificates a
0.00
Cumulative Additional trust fund expenses applied to the
Certificates
since the closing date :
0.00
*Status code
1. Final Settlement has been made.
2. Final Settlement has not been made.
Delinquent Loan Detail
Paid Outstanding
Disclosure Doc Thru Current P&I P&I
Control # Date Advance Advances**
1 04/01/97 90,234.32 90,234.32
3 04/01/97 80,448.55 80,448.55
10 04/01/97 50,309.18 50,309.18
12 04/01/97 43,628.90 43,628.90
14 04/01/97 41,556.35 41,556.35
15 04/01/97 38,859.40 38,859.40
16 04/01/97 34,342.02 34,342.02
26 04/01/97 26,599.98 26,599.98
33 04/01/97 19,861.56 19,861.56
35 04/01/97 20,904.61 20,904.61
42 04/01/97 17,255.92 17,255.92
48 04/01/97 12,949.99 12,949.99
50 04/01/97 12,667.84 12,667.84
52 04/01/97 13,709.38 13,709.38
55 04/01/97 13,309.78 13,309.78
57 04/01/97 11,019.22 11,019.22
59 04/01/97 11,057.24 11,057.24
61 04/01/97 9,298.37 9,298.37
65 04/01/97 7,981.44 7,981.44
66 04/01/97 8,040.49 8,040.49
71 04/01/97 5,901.49 5,901.49
75 04/01/97 4,576.99 4,576.99
Total 574,513.02 574,513.02
A. P&I Advance - Loan in Grace Period
B. P&I Advance - Late Payment but < one month delinq
1. P&I Advance - Loan delinquent 1 month
2. P&I Advance - Loan delinquent 2 months
3. P&I Advance - Loan delinquent 3 months or More
4. Matured Balloon/Assumed Scheduled Payment
** Outstanding P&I Advances include the current period P&I
Advance
Out. Property Special
Disclosure Doc Protection Advance Servicer
Control # Advances Description (1)Transfer Date
1 0.00 B
3 0.00 B
10 0.00 B
12 0.00 B
14 0.00 B
15 0.00 B
16 0.00 B
26 0.00 B
33 0.00 B
35 0.00 B
42 0.00 B
48 0.00 B
50 0.00 B
52 0.00 B
55 0.00 B
57 0.00 B
59 0.00 B
61 0.00 B
65 0.00 B
66 0.00 B
71 0.00 B
75 0.00 B
Total 0.00
Disclosure Doc Foreclosure Bankruptcy REO
Control # Date Date Date
1
3
10
12
14
15
16
26
33
35
42
48
50
52
55
57
59
61
65
66
71
75
Total
Loan Level Detail
Property
Disclosure Type Maturity
Control # Group Code Date
1 GNMA MF- Housing 10/01/29
2 FHA MF- Housing 09/01/27
3 GNMA Nursing Home 02/01/30
4 FHA MF- Housing 03/01/21
5 FHA MF- Housing 02/01/21
6 FHA MF- Housing 11/01/29
7 FHA Nursing Home 12/01/34
8 FHA MF- Housing 06/01/20
9 FHA MF- Housing 09/01/31
10 GNMA MF- Housing 03/01/31
11 FHA Nursing Home 10/01/31
12 GNMA Nursing Home 11/01/36
13 FHA Nursing Home 05/01/31
14 GNMA MF- Housing 04/01/23
15 GNMA MF- Housing 10/01/26
16 GNMA MF- Housing 12/01/31
17 FHA MF- Housing 06/01/31
18 FHA MF- Housing 07/01/36
19 FHA Nursing Home 05/01/31
20 FHA Nursing Home 03/01/26
21 FHA MF- Housing 09/01/29
22 FHA Nursing Home 10/01/26
23 FHA Nursing Home 08/01/30
24 FHA MF- Housing 04/01/30
25 FHA MF- Housing 06/01/36
26 GNMA MF- Housing 10/01/31
27 FHA MF- Housing 06/01/25
28 FHA MF- Housing 12/01/20
29 FHA Nursing Home 10/01/31
30 FHA Nursing Home 12/01/31
31 FHA MF- Housing 06/01/21
32 FHA MF- Housing 10/01/23
33 GNMA MF- Housing 10/01/31
34 FHA MF- Housing 12/01/31
35 GNMA MF- Housing 07/15/29
36 FHA Nursing Home 11/01/31
37 FHA Nursing Home 11/01/31
38 FHA Nursing Home 11/01/31
39 FHA Nursing Home 10/01/26
40 FHA MF- Housing 06/01/31
41 FHA Nursing Home 11/01/17
42 GNMA MF- Housing 10/01/34
43 FHA Nursing Home 03/01/36
44 FHA MF- Housing 04/01/35
45 FHA Nursing Home 10/01/28
46 FHA Nursing Home 11/01/25
47 FHA Nursing Home 10/01/26
48 GNMA Nursing Home 08/15/31
49 FHA Nursing Home 06/01/32
50 GNMA MF- Housing 11/01/26
51 FHA MF- Housing 10/01/33
52 FHA MF- Housing 05/01/22
53 FHA Nursing Home 05/01/36
54 FHA Nursing Home 05/01/32
55 GNMA MF- Housing 04/01/24
56 FHA Nursing Home 12/01/34
57 GNMA MF- Housing 01/01/30
58 FHA MF- Housing 01/01/25
59 GNMA MF- Housing 11/01/25
60 FHA Nursing Home 10/01/26
61 GNMA MF- Housing 10/01/31
62 FHA MF- Housing 09/01/27
63 FHA MF- Housing 08/01/28
64 FHA MF- Housing 11/01/29
65 GNMA MF- Housing 07/01/30
66 FHA MF- Housing 04/01/30
67 FHA MF- Housing 05/01/30
68 FHA Nursing Home 12/01/35
69 FHA MF- Housing 06/01/31
70 FHA Nursing Home 10/01/35
71 GNMA MF- Housing 12/01/21
72 FHA Nursing Home 10/01/30
73 FHA Nursing Home 01/01/36
74 FHA MF- Housing 12/01/27
75 GNMA MF- Housing 11/01/34
76 FHA Nursing Home 11/01/30
77 FHA MF- Housing 11/01/26
78 FHA MF- Housing 01/01/36
79 FHA MF- Housing 10/01/07
80 FHA MF- Housing 08/01/34
81 FHA MF- Housing 02/01/35
* NOI and DSCR, if available and reportable under the
terms of the trust agreement,
are based on information obtained from the related borrower,
and no other party to the
agreement shall be held liable for the accuracy or
methodology used to determine such
figures.
(1) Legend:
A. P&I Adv - in Grace Period
B. P&I Adv - < one month delinq
1. P&I Adv - delinquent 1 month
2. P&I Adv - delinquent 2 months
3. P&I Adv - delinquent 3+ months
4. Mat. Balloon/Assumed P&I
5. Prepaid in Full
6. Specially Serviced
7. Foreclosure
8. Bankruptcy
9. REO
10. DPO
11. Modification
Operating
Disclosure Statement
Control # DSCR NOI Date
1 1.171 2,854,402.59
2 1.792 1,865,538.86
3 1.340 1,330,613.00
4 1.072 1,029,957.00
5 1.325 1,076,996.00
6 0.993 657,598.00
7 1.191 1,011,163.00
8 1.596 1,290,361.00
9 1.534 1,045,944.00
10 1.598 1,076,744.00
11 3.121 2,080,584.00
12 1.408 760,000.00
13 1.670 835,232.00
14
15 1.303 625,472.00
16
17
18 1.171 542,367.00
19 1.670 670,912.00
20 1.900 826,616.00
21 1.327 556,900.00
22 1.598 588,956.00
23 1.590 559,357.00
24 1.322 473,165.00
25 1.168 433,060.00
26 1.398 459,304.00
27
28 1.753 788,156.00
29 2.452 764,249.00
30 1.613 590,711.00
31 0.440 137,247.00
32 1.503 468,370.00
33 1.618 397,369.00
34 1.322 330,891.00
35
36 2.676 663,956.00
37 2.429 590,151.00
38 2.190 526,511.00
39 1.785 444,866.00
40
41 1.394 381,959.00
42 367,704.00
43 2.494 517,243.00
44 1.170 244,714.00
45 1.352 307,704.00
46 1.400 312,225.00
47 1.500 294,122.00
48 2.002 320,223.00
49 1.372 264,706.00
50 1.248 195,120.00
51 1.168 197,486.00
52 0.968 164,239.00
53 1.286 213,635.00
54 1.157 212,135.00
55 265,048.00
56 1.191 1,011,163.00
57 1.439 196,129.00
58 1.236 191,401.00
59 1.424 194,328.00
60 1.547 202,919.00
61 1.321 151,891.00
62 1.245 142,222.00
63 390,613.00
64 1.238 135,876.00
65 1.330 130,878.00
66 1.367 134,338.00
67 1.238 108,204.00
68 1.411 117,929.00
69 1.374 101,609.00
70 1.325 102,843.00
71 1.265 92,115.00
72 1.454 99,677.00
73
74 1.841 442,210.00
75
76 780,300.00
77 93,717.00
78 63,538.00
79 1.076 72,541.00
80 44,943.00
81 35,981.00
Ending
Disclosure Principal Note Scheduled
Control # Balance Rate P&I
1 12,410,821.91 8.125% 90,234
2 11,207,309.16 8.600% 86,768
3 11,004,969.88 8.200% 80,449
4 8,978,176.73 9.500% 80,030
5 8,137,977.54 8.500% 67,714
6 8,051,446.85 7.500% 55,180
7 7,926,377.43 8.500% 58,573
8 7,837,935.30 9.000% 67,378
9 7,773,897.17 8.250% 56,823
10 7,558,203.96 7.375% 50,309
11 7,382,356.62 8.550% 55,560
12 6,547,418.54 7.625% 43,629
13 5,910,258.09 7.875% 41,676
14 5,487,347.06 8.000% 41,556
15 5,423,884.48 7.750% 38,859
16 5,035,806.40 7.625% 34,342
17 4,991,735.49 8.275% 36,626
18 4,932,471.39 9.125% 38,605
19 4,747,497.96 7.875% 33,477
20 4,469,821.45 9.000% 36,256
21 4,448,517.12 8.900% 34,983
22 3,977,694.44 8.500% 30,718
23 3,968,189.18 8.300% 29,321
24 3,829,945.22 8.825% 29,816
25 3,805,171.42 9.500% 30,889
26 3,747,590.16 8.000% 26,600
27 3,673,709.21 9.750% 31,938
28 3,435,668.33 9.500% 37,477
29 3,468,617.88 8.500% 25,977
30 3,393,631.69 10.500% 30,515
31 3,296,012.17 8.250% 26,290
32 2,904,012.18 8.500% 25,963
33 2,909,632.55 7.625% 19,862
34 2,893,287.65 8.125% 20,858
35 2,849,621.50 8.200% 20,905
36 2,830,799.20 8.250% 20,674
37 2,772,844.56 8.250% 20,251
38 2,743,518.14 8.250% 20,036
39 2,689,598.53 8.500% 20,771
40 2,453,564.83 8.275% 18,002
41 2,426,490.04 9.750% 22,835
42 2,373,731.50 8.375% 17,256
43 2,206,099.19 9.125% 17,282
44 2,192,996.76 9.250% 17,434
45 2,177,006.83 10.000% 18,972
46 2,143,576.67 9.750% 18,584
47 2,115,794.87 8.500% 16,339
48 1,822,860.87 8.000% 12,950
49 1,790,980.01 10.500% 16,082
50 1,748,193.50 7.875% 12,668
51 1,722,590.79 9.500% 14,086
52 1,701,696.29 8.875% 14,135
53 1,705,158.71 9.500% 13,845
54 1,701,003.03 10.500% 15,277
55 1,679,568.05 8.625% 13,310
56 1,651,557.31 8.500% 12,204
57 1,617,423.12 7.500% 11,019
58 1,543,196.58 9.250% 12,904
59 1,494,872.90 8.000% 11,057
60 1,415,441.95 8.500% 10,931
61 1,344,401.39 7.750% 9,298
62 1,300,254.91 8.000% 9,516
63 1,294,465.79 10.000% 11,290
64 1,127,477.21 9.250% 9,149
65 1,042,149.78 8.700% 7,981
66 1,011,063.61 9.250% 8,188
67 899,996.51 9.250% 7,286
68 856,834.39 9.500% 6,964
69 840,084.65 8.275% 6,164
70 795,301.94 9.500% 6,467
71 788,429.76 7.650% 5,901
72 759,028.38 8.500% 5,713
73 698,939.39 8.750% 5,278
74 641,818.17 10.250% 5,735
75 622,512.62 8.500% 4,577
76 580,093.64 8.500% 4,365
77 549,512.03 9.250% 4,535
78 482,048.62 8.625% 3,594
79 464,974.81 8.500% 5,619
80 307,350.23 8.750% 2,332
81 174,631.82 9.500% 1,422
265,718,947.99 2,046,431
Loan
Disclosure Prepayment Status
Control # Prepayment Date Code (1)
1 B
2
3 B
4
5
6
7
8
9
10 B
11
12 B
13
14 B
15 B
16 B
17
18
19
20
21
22
23
24
25
26 B
27
28
29
30
31
32
33 B
34
35 B
36
37
38
39
40
41
42 B
43
44
45
46
47
48 B
49
50 B
51
52 B
53
54
55 B
56
57 B
58
59 B
60
61 B
62
63
64
65 B
66 B
67
68
69
70
71 B
72
73
74
75 B
76
77
78
79
80
81
0.00
Specially Serviced Loan Detail
Beginning
Disclosure Scheduled Interest Maturity
Control # Balance Rate Date
0
0 0 0 0
(1)
Legend :
1) Request for waiver of Prepayment Penalty
2) Payment default
3) Request for Loan Modification or Workout
4) Loan with Borrower Bankruptcy
5) Loan in Process of Foreclosure
6) Loan now REO Property
7) Loans Paid Off
8) Loans Returned to Master Servicer
Specially
Disclosure Property Serviced
Control # Type Status Code (1)Comments
Modified Loan Detail
Disclosure Modification Modification
Control # Date Description
0 0 0
0 0 0
0 0 0
0 0 0
0 0 0
0 0 0
0 0 0
0 0 0
0 0 0
0 0 0
0 0 0
0 0 0
0 0 0
0 0 0
0 0 0
0 0 0
0 0 0
0 0 0
0 0 0
0 0 0
0 0 0
0 0 0
0 0 0
0 0 0
0 0 0
0 0 0
0 0 0
0 0 0
0 0 0
0 0 0
0 0 0
0 0 0
Realized Loss Detail
Dist. Disclosure Appraisal
Date Control # Date
0 0 0
0 0 0
0 0 0
0 0 0
0 0 0
0 0 0
0 0 0
0 0 0
0 0 0
0 0 0
0 0 0
0 0 0
0 0 0
0 0 0
0 0 0
0 0 0
0 0 0
0 0 0
0 0 0
0 0 0
0 0 0
0 0 0
0 0 0
0 0 0
0 0 0
0 0 0
0 0 0
0 0 0
0 0 0
0 0 0
Current Total 0 0
Cumulative 0 0
* Aggregate liquidation expenses also include
outstanding P&I
advances and unpaid servicing fees, unpaid trustee fees,
etc..
Beginning
Disclosure Appraisal Scheduled
Control # Value Balance
0 0.00 0.00
0 0.00 0.00
0 0.00 0.00
0 0.00 0.00
0 0.00 0.00
0 0.00 0.00
0 0.00 0.00
0 0.00 0.00
0 0.00 0.00
0 0.00 0.00
0 0.00 0.00
0 0.00 0.00
0 0.00 0.00
0 0.00 0.00
0 0.00 0.00
0 0.00 0.00
0 0.00 0.00
0 0.00 0.00
0 0.00 0.00
0 0.00 0.00
0 0.00 0.00
0 0.00 0.00
0 0.00 0.00
0 0.00 0.00
0 0.00 0.00
0 0.00 0.00
0 0.00 0.00
0 0.00 0.00
0 0.00 0.00
0 0.00 0.00
0 0.00 0.00
0 0.00 0.00
Gross Proceeds
Disclosure Gross as a % of
Control # Proceeds Sched Principal
0 0.00
0 0.00
0 0.00 0
0 0.00 0
0 0.00 0
0 0.00 0
0 0.00 0
0 0.00 0
0 0.00 0
0 0.00 0
0 0.00 0
0 0.00 0
0 0.00 0
0 0.00 0
0 0.00 0
0 0.00 0
0 0.00 0
0 0.00 0
0 0.00 0
0 0.00 0
0 0.00 0
0 0.00 0
0 0.00 0
0 0.00 0
0 0.00 0
0 0.00 0
0 0.00 0
0 0.00 0
0 0.00 0
0 0.00 0
0 0.00 0
0 0.00 0
Aggregate Net
Disclosure Liquidation Liquidation
Control # Expenses * Proceeds
0 0.00
0 0.00
0 0.00 0.00
0 0.00 0.00
0 0.00 0.00
0 0.00 0.00
0 0.00 0.00
0 0.00 0.00
0 0.00 0.00
0 0.00 0.00
0 0.00 0.00
0 0.00 0.00
0 0.00 0.00
0 0.00 0.00
0 0.00 0.00
0 0.00 0.00
0 0.00 0.00
0 0.00 0.00
0 0.00 0.00
0 0.00 0.00
0 0.00 0.00
0 0.00 0.00
0 0.00 0.00
0 0.00 0.00
0 0.00 0.00
0 0.00 0.00
0 0.00 0.00
0 0.00 0.00
0 0.00 0.00
0 0.00 0.00
0 0.00 0.00
0 0.00 0.00
Net Proceeds
Disclosure as a % of Realized
Control # Sched. BalanceLoss
0
0
0 0 0.00
0 0 0.00
0 0 0.00
0 0 0.00
0 0 0.00
0 0 0.00
0 0 0.00
0 0 0.00
0 0 0.00
0 0 0.00
0 0 0.00
0 0 0.00
0 0 0.00
0 0 0.00
0 0 0.00
0 0 0.00
0 0 0.00
0 0 0.00
0 0 0.00
0 0 0.00
0 0 0.00
0 0 0.00
0 0 0.00
0 0 0.00
0 0 0.00
0 0 0.00
0 0 0.00
0 0 0.00
0 0 0.00
0 0 0.00
Distribution Delinq 1 Month Delinq 2 Months Delinq
3+ Months
Date # Balance # Balance #
Balance
05/27/97 0 0 0 0
0 0
0.00% 0.000% 0.00% 0.000%
0.00% 0.000%
04/25/97 0 0 0 0
0 0
0.00% 0.000% 0.00% 0.000%
0.00% 0.000%
03/25/97 0 0 0 0
0 0
0.00% 0.000% 0.00% 0.000%
0.00% 0.000%
02/25/97 0 0 0 0
0 0
0.00% 0.000% 0.00% 0.000%
0.00% 0.000%
01/27/97 0 0 0 0
0 0
0.00% 0.000% 0.00% 0.000%
0.00% 0.000%
01/00/00 0 0 0 0
0 0
0.00% 0.000% 0.00% 0.000%
0.00% 0.000%
01/00/00 0 0 0 0
0 0
0.00% 0.000% 0.00% 0.000%
0.00% 0.000%
01/00/00 0 0 0 0
0 0
0.00% 0.000% 0.00% 0.000%
0.00% 0.000%
01/00/00 0 0 0 0
0 0
0.00% 0.000% 0.00% 0.000%
0.00% 0.000%
01/00/00 0 0 0 0
0 0
0.00% 0.000% 0.00% 0.000%
0.00% 0.000%
01/00/00 0 0 0 0
0 0
0.00% 0.000% 0.00% 0.000%
0.00% 0.000%
01/00/00 0 0 0 0
0 0
0.00% 0.000% 0.00% 0.000%
0.00% 0.000%
01/00/00 0 0 0 0
0 0
0.00% 0.000% 0.00% 0.000%
0.00% 0.000%
01/00/00 0 0 0 0
0 0
0.00% 0.000% 0.00% 0.000%
0.00% 0.000%
01/00/00 0 0 0 0
0 0
0.00% 0.000% 0.00% 0.000%
0.00% 0.000%
01/00/00 0 0 0 0
0 0
0.00% 0.000% 0.00% 0.000%
0.00% 0.000%
01/00/00 0 0 0 0
0 0
0.00% 0.000% 0.00% 0.000%
0.00% 0.000%
Distribution Foreclosure/BankruptcyREO
Modifications
Date # Balance # Balance #
Balance
05/27/97 0 0 0 0 0
0
0.00% 0.000% 0.00% 0.000% 0.00%
0.000%
04/25/97 0 0 0 0 0
0
0.00% 0.000% 0.00% 0.000% 0.00%
0.000%
03/25/97 0 0 0 0 0
0
0.00% 0.000% 0.00% 0.000% 0.00%
0.000%
02/25/97 0 0 0 0 0
0
0.00% 0.000% 0.00% 0.000% 0.00%
0.000%
01/27/97 0 0 0 0 0
0
0.00% 0.000% 0.00% 0.000% 0.00%
0.000%
01/00/00 0 0 0 0 0
0
0.00% 0.000% 0.00% 0.000% 0.00%
0.000%
01/00/00 0 0 0 0 0
0
0.00% 0.000% 0.00% 0.000% 0.00%
0.000%
01/00/00 0 0 0 0 0
0
0.00% 0.000% 0.00% 0.000% 0.00%
0.000%
01/00/00 0 0 0 0 0
0
0.00% 0.000% 0.00% 0.000% 0.00%
0.000%
01/00/00 0 0 0 0 0
0
0.00% 0.000% 0.00% 0.000% 0.00%
0.000%
01/00/00 0 0 0 0 0
0
0.00% 0.000% 0.00% 0.000% 0.00%
0.000%
01/00/00 0 0 0 0 0
0
0.00% 0.000% 0.00% 0.000% 0.00%
0.000%
01/00/00 0 0 0 0 0
0
0.00% 0.000% 0.00% 0.000% 0.00%
0.000%
01/00/00 0 0 0 0 0
0
0.00% 0.000% 0.00% 0.000% 0.00%
0.000%
01/00/00 0 0 0 0 0
0
0.00% 0.000% 0.00% 0.000% 0.00%
0.000%
01/00/00 0 0 0 0 0
0
0.00% 0.000% 0.00% 0.000% 0.00%
0.000%
01/00/00 0 0 0 0 0
0
0.00% 0.000% 0.00% 0.000% 0.00%
0.000%
Note: Foreclosure and REO Totals are Included in the
Appropriate Delinquency Aging Category
Distribution Prepayments Curr Weighted Avg.
Date # Balance Coupon Remit
05/27/97 0 0 8.5184% 8.3523%
0.00% 0.000%
04/25/97 0 0 8.5184% 8.3523%
0.00% 0.000%
03/25/97 0 0 8.5185% 8.3523%
0.00% 0.000%
02/25/97 0 0 8.5185% 8.3524%
0.00% 0.000%
01/27/97 0 0 8.5185% 8.3524%
0.00% 0.000%
01/00/00 0 0 0.0000% 0.0000%
0.00% 0.000%
01/00/00 0 0 0.0000% 0.0000%
0.00% 0.000%
01/00/00 0 0 0.0000% 0.0000%
0.00% 0.000%
01/00/00 0 0 0.0000% 0.0000%
0.00% 0.000%
01/00/00 0 0 0.0000% 0.0000%
0.00% 0.000%
01/00/00 0 0 0.0000% 0.0000%
0.00% 0.000%
01/00/00 0 0 0.0000% 0.0000%
0.00% 0.000%
01/00/00 0 0 0.0000% 0.0000%
0.00% 0.000%
01/00/00 0 0 0.0000% 0.0000%
0.00% 0.000%
01/00/00 0 0 0.0000% 0.0000%
0.00% 0.000%
01/00/00 0 0 0.0000% 0.0000%
0.00% 0.000%
01/00/00 0 0 0.0000% 0.0000%
0.00% 0.000%
Delinquent Loan Detail
Disclosure Paid Current Outstanding
Doc Thru P&I P&I
Control # Date Advance Advances**
1 04/01/97 90,234.32 90,234.32
3 04/01/97 80,448.55 80,448.55
10 04/01/97 50,309.18 50,309.18
12 04/01/97 43,628.90 43,628.90
14 04/01/97 41,556.35 41,556.35
15 04/01/97 38,859.40 38,859.40
16 04/01/97 34,342.02 34,342.02
26 04/01/97 26,599.98 26,599.98
33 04/01/97 19,861.56 19,861.56
35 04/01/97 20,904.61 20,904.61
42 04/01/97 17,255.92 17,255.92
48 04/01/97 12,949.99 12,949.99
50 04/01/97 12,667.84 12,667.84
52 04/01/97 13,709.38 13,709.38
55 04/01/97 13,309.78 13,309.78
57 04/01/97 11,019.22 11,019.22
59 04/01/97 11,057.24 11,057.24
61 04/01/97 9,298.37 9,298.37
65 04/01/97 7,981.44 7,981.44
66 04/01/97 8,040.49 8,040.49
71 04/01/97 5,901.49 5,901.49
75 04/01/97 4,576.99 4,576.99
Total 574,513.02 574,513.02
A. P&I Advance - Loan in Grace Period
B. P&I Advance - Late Payment but < one month delinq
1. P&I Advance - Loan delinquent 1 month
2. P&I Advance - Loan delinquent 2 months
3. P&I Advance - Loan delinquent 3 months or More
4. Matured Balloon/Assumed Scheduled Payment
** Outstanding P&I Advances include the current period P&I
Advance
Outstanding Special
Disclosure Property Servicer
Doc Protection Advance Transfer
Control # Advances Description Date
1 0.00 B
3 0.00 B
10 0.00 B
12 0.00 B
14 0.00 B
15 0.00 B
16 0.00 B
26 0.00 B
33 0.00 B
35 0.00 B
42 0.00 B
48 0.00 B
50 0.00 B
52 0.00 B
55 0.00 B
57 0.00 B
59 0.00 B
61 0.00 B
65 0.00 B
66 0.00 B
71 0.00 B
75 0.00 B
Total 0.00
Disclosure
Doc Foreclosure Bankruptcy REO
Control # Date Date Date
1
3
10
12
14
15
16
26
33
35
42
48
50
52
55
57
59
61
65
66
71
75
Pool Total
Distribution of Principal Balances
Current Scheduled Number Scheduled Based on
Balances of Loans Balance Balance
0 to 500,000 4 1,429,005 0.54%
500,000 to 1,000,000 11 8,032,551 3.02%
1,000,000 to 1,500,000 8 10,030,128 3.77%
1,500,000 to 2,000,000 11 18,684,228 7.03%
2,000,000 to 2,500,000 8 18,089,261 6.81%
2,500,000 to 3,000,000 8 22,593,314 8.50%
3,000,000 to 3,500,000 4 13,593,930 5.12%
3,500,000 to 4,000,000 6 23,002,300 8.66%
4,000,000 to 5,000,000 5 23,590,043 8.88%
5,000,000 to 6,000,000 4 21,857,296 8.23%
6,000,000 to 7,000,000 1 6,547,419 2.46%
7,000,000 to 8,000,000 5 38,478,770 14.48%
8,000,000 to 9,000,000 3 25,167,601 9.47%
9,000,000 to 10,000,000 0 0 0.00%
10,000,000 to 11,000,000 0 0 0.00%
11,000,000 to 12,000,000 2 22,212,279 8.36%
12,000,000 to 13,000,000 1 12,410,822 4.67%
13,000,000 to 14,000,000 0 0 0.00%
14,000,000 to 15,000,000 0 0 0.00%
15,000,000 & Above 0 0 0.00%
Total 81 265,718,948 100.00%
Average Scheduled Balance is 3,280,481
Maximum Scheduled Balance is 12,410,822
Minimum Scheduled Balance is 174,632
Number Scheduled Based on
Property Types of Loans Balance Balance
MF- Housing 50 167,039,187 62.86%
Nursing Home 31 98,679,761 37.14%
Total 81 265,718,948 100.00%
Distribution of Mortgage Interest Rates
Current Mortgage Number Scheduled Based on
Interest Rate of Loans Balance Balance
7.000%or less 0 0 0.00%
7.000%to 7.125% 0 0 0.00%
7.125%to 7.375% 1 7,558,204 2.84%
7.375%to 7.625% 5 24,161,727 9.09%
7.625%to 7.875% 6 19,962,665 7.51%
7.875%to 8.125% 7 29,157,035 10.97%
8.125%to 8.375% 12 47,898,968 18.03%
8.375%to 8.625% 17 57,464,964 21.63%
8.625%to 8.875% 5 7,580,081 2.85%
8.875%to 9.125% 5 23,894,844 8.99%
9.125%to 9.375% 6 7,324,243 2.76%
9.375%to 9.625% 8 21,473,534 8.08%
9.625%to 9.875% 3 8,243,776 3.10%
9.875%to 10.125% 2 3,471,473 1.31%
10.125%& Above 4 7,527,433 2.83%
Total 81 265,718,948 100.00%
W/Avg Mortgage Interest Rate is 8.5184%
Minimum Mortgage Interest Rate is 7.3750%
Maximum Mortgage Interest Rate is 10.5000%
Number Scheduled Based on
Geographic Location of Loans Balance Balance
New York 8 44,236,428 16.65%
Texas 8 24,909,302 9.37%
Ohio 12 24,102,371 9.07%
Michigan 9 22,145,010 8.33%
Virginia 3 18,088,446 6.81%
Connecticut 4 14,878,007 5.60%
Colorado 1 11,207,309 4.22%
Massachusetts 3 11,072,808 4.17%
New Jersey 1 11,004,970 4.14%
New Hampshire 2 10,657,756 4.01%
Georgia 2 9,735,211 3.66%
Maryland 4 9,648,063 3.63%
Illinois 2 9,575,353 3.60%
South Dakota 3 8,347,162 3.14%
Pennsylvania 2 7,335,848 2.76%
Indiana 1 5,423,884 2.04%
California 3 5,123,530 1.93%
Arizona 1 4,448,517 1.67%
Florida 1 3,829,945 1.44%
Minnesota 2 3,066,992 1.15%
Maine 2 1,591,157 0.60%
North Carolina 1 1,300,255 0.49%
Kentucky 1 1,294,466 0.49%
Alabama 1 1,042,150 0.39%
Missouri 1 622,513 0.23%
Nebraska 1 549,512 0.21%
Oregon 2 481,982 0.18%
Total 81 265,718,948 100.00%
Loan Seasoning
Number Scheduled Based on
Number of Years of Loans Balance Balance
1 year or less 36 128,361,715 48.31%
1+ to 2 years 18 42,914,567 16.15%
2+ to 3 years 13 37,406,691 14.08%
3+ to 4 years 4 6,003,004 2.26%
4+ to 5 years 2 13,633,799 5.13%
5+ to 6 years 1 3,393,632 1.28%
6+ to 7 years 0 0 0.00%
7+ to 8 years 0 0 0.00%
8+ to 9 years 0 0 0.00%
9+ to 10 years 2 1,942,073 0.73%
10 years or more 5 32,063,467 12.07%
Total 81 265,718,948 100.00%
Weighted Average Seasoning is 3.2
Distribution of Amortization Type
Number Scheduled Based on
Amortization Type of Loans Balance Balance
Fully Amortizing 81 265,718,948 100.00%
Total 81 265,718,948 100.00%
Distribution of Remaining Term
Fully Amortizing
Fully Amortizing Number Scheduled Based on
Mortgage Loans of Loans Balance Balance
60 months or less 0 0 0.00%
61 to 120 months 0 0 0.00%
121 to 200 months 2 3,900,643 1.47%
201 to 300 months 8 36,070,730 13.57%
301 to 500 months 71 225,747,575 84.96%
Total 81 265,718,948 100.00%
Weighted Average Months to Maturity is 379
Debt Service Number Scheduled Based on
Coverage Ratio (1) of Loans Balance Balance
0.500or less 1 3,296,012 1.24%
0.500to 0.625 0 0 0.00%
0.625to 0.750 0 0 0.00%
0.750to 0.875 0 0 0.00%
0.875to 1.000 2 9,753,143 3.67%
1.000to 1.125 2 9,443,152 3.55%
1.125to 1.250 13 42,962,109 16.17%
1.250to 1.375 15 47,233,159 17.78%
1.375to 1.500 9 21,709,029 8.17%
1.500to 1.625 9 41,738,638 15.71%
1.625to 1.750 2 10,657,756 4.01%
1.750to 1.875 4 17,974,394 6.76%
1.875to 2.000 1 4,469,821 1.68%
2.000to 2.125 1 1,822,861 0.69%
2.125& above 6 21,404,236 8.06%
Unknown 16 33,254,638 12.51%
Total 81 265,718,948 100.00%
Weighted Average Debt Service Coverage Ratio 1.509766
(1) Debt Service Coverage Ratios are calculated as described
in the prospectus, values are updated periodically as new
NOI
figures became available from borrowers on an asset level.
Neither the Trustee, Servicer, Special Servicer or
Underwriter
makes any representation as to the accuracy of the data
provided
by the borrower for this calculation.
NOI Aging
Number Scheduled Based on
NOI Date of Loans Balance Balance
1 year or less 0 0 0.00%
1 to 2 years 0 0 0.00%
2 Years or More 0 0 0.00%
Unknown 81 265,718,948 100.00%
Total 81 265,718,948 100.00%
