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): July 25, 1997
STRUCTURED ASSET SECURITIES CORPORATION
(Exact name of registrant as specified in its governing instruments)
Arizona 33-92146 0742739
(State or other Jurisdiction (Commission Fil(I.R.S. Employer
of Incorporation) Number) Identification No.)
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: July 25, 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: 07/25/97
Payment Date: 07/25/97
Prior Payment: 06/25/97
Record Date: 06/30/97
WAC: 8.518364%
WAMM: 377
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 Detail Appendix 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 265,558,755.11
02970K BF3 1000.000000000 996.428999913
A-1 40,317,000.00 36,874,054.84
02970K BG1 1000.000000000 914.603141107
A-2 38,978,000.00 38,978,000.00
02970K BH9 1000.000000000 1000.000000000
A-3 55,487,000.00 55,487,000.00
02970K BJ5 1000.000000000 1000.000000000
A-4 58,824,000.00 58,824,000.00
02970K BK2 1000.000000000 1000.000000000
A-Z 67,712,000.00 70,203,236.27
02970K BL0 1000.000000000 1036.791650963
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
266,510,464.00 265,558,755.11
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 BF3 0.000000000 0.000000000 0.000000000
A-1 585,373.01 0.00 0.00
02970K BG1 14.519260114 0.000000000 0.000000000
A-2 0.00 0.00 0.00
02970K BH9 0.000000000 0.000000000 0.000000000
A-3 0.00 0.00 0.00
02970K BJ5 0.000000000 0.000000000 0.000000000
A-4 0.00 0.00 0.00
02970K BK2 0.000000000 0.000000000 0.000000000
A-Z 0.00 0.00 424,027.55
02970K BL0 0.000000000 0.000000000 6.262221615
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
585,373.01 0.00 424,027.55
Closing Interest Interest
Class Balance Payment Adjustment
CUSIP Per $1,000 Per $1,000 Per $1,000
S 265,397,409.65 276,896.98 0.00
02970K BF3 995.823599819 1.038972263 0.000000000
A-1 36,288,681.83 205,111.93 0.00
02970K BG1 900.083880993 5.087479971 0.000000000
A-2 38,978,000.00 227,371.67 0.00
02970K BH9 1000.000000000 5.833333419 0.000000000
A-3 55,487,000.00 329,454.06 0.00
02970K BJ5 1000.000000000 5.937499955 0.000000000
A-4 58,824,000.00 357,355.80 0.00
02970K BK2 1000.000000000 6.075000000 0.000000000
A-Z 70,627,263.82 0.00 0.00
02970K BL0 1043.053872578 0.000000000 0.000000000
B 5,192,464.00 28,125.84 0.00
9ABSA236 1000.000000000 5.416665383 0.000000000
R-III 0.00 0.00 0.00
9ABSA237 0.000000000 0.000000000 0.000000000
265,397,409.65 1,424,316.28 0.00
(2) Interest Paid minus Interest Adjustment minus Deferred Interest equals
Accrual
Pass-Through
Class Rate (2)
CUSIP Next Rate (3)
S 1.25123489%
02970K BF3 1.24905763%
A-1 6.67500000%
02970K BG1 Fixed
A-2 7.00000000%
02970K BH9 Fixed
A-3 7.12500000%
02970K BJ5 Fixed
A-4 7.29000000%
02970K BK2 Fixed
A-Z 7.24800000%
02970K BL0 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 36,487,861.21
None 1000.000000 905.024213
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 70,589,429.90
None 1000.000000 1042.495125
B 5,192,46 5,192,464.00
None 1000.000000 1000.000000
R-II -
9ABSA238 1000.000000 0.000000
266,510,464. 265,558,755.11
Principal Principal Negative
Class Payment Adj. or Loss Amortization
CUSIP Per $1,000 Per $1,000 Per $1,000
A-1 652,662.49 0.00 0.00
None 16.188270 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 0.00 491,317.03
None 0.000000 0.000000 7.255982
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
652,662.49 0.00 491,317.03
Closing Interest Interest
Class Balance Payment Adjustment
CUSIP Per $1,000 Per $1,000 Per $1,000
A-1 35,835,198.72 253,963.06 0.00
None 888.835943 6.299156 0.000000
A-2 38,978,000.00 271,294.94 0.00
None 1000.000000 6.960207 0.000000
A-3 55,487,000.00 386,200.99 0.00
None 1000.000000 6.960207 0.000000
A-4 58,824,000.00 409,427.20 0.00
None 1000.000000 6.960207 0.000000
A-Z 71,080,746.93 0.00 0.00
None 1049.751107 0.000000 0.000000
B 5,192,464.00 36,140.61 0.00
None 1000.000000 6.960204 0.000000
R-II 0.00 0.00 0.00
9ABSA238 0.000000 0.000000 0.000000
265,397,409.65 1,357,026.80 0.00
Pass-Through
Class Rate (2)
CUSIP Next Rate (3)
A-1 8.35224808%
None 8.35222438%
A-2 8.35224808%
None 8.35222438%
A-3 8.35224808%
None 8.35222438%
A-4 8.35224808%
None 8.35222438%
A-Z 8.35224808%
None 8.35222438%
B 8.35224808%
None 8.35222438%
R-II 0.00000000%
9ABSA238 0.00000000%
Remic I
Original Opening
Class Face Value (1)Balance
CUSIP Per $1,000 Per $1,000
Regular Interes266,510,464.00265,558,755.11
None 1000.000000 996.429000
R-I 0.00 0.00
9ABSA239 1000.000000 0.000000
266,510,464.00265,558,755.11
Principal Principal Negative
Class Payment Adj. or Loss Amortization
CUSIP Per $1,000 Per $1,000 Per $1,000
Regular Interes 161,3 0.00 0.00
None 0.605400 0.000000 0.000000
R-I 0.00 0.00 0.00
9ABSA239 0.000000 0.000000 0.000000
161,345.45 0.00 0.00
Closing Interest Interest
Class Balance Payment Adjustment
CUSIP Per $1,000 Per $1,000 Per $1,000
Regular Interes265,397,409.66 1,848,343.84 0.00
None 995.823600 6.935352 0.000000
R-I 0.00 0.00 0.00
9ABSA239 0.000000 0.000000 0.000000
265,397,409.66 1,848,343.84 0.00
Pass-Through
Class Rate (2)
CUSIP Next Rate (3)
Regular Interes 8.35224808%
None 8.35222438%
R-I 0.00000000%
9ABSA239 0.00000000%
Other Related Information
Beginning
Loan Beginning
Asset Type Count Balance
Morgage Loans: 61 188,090,234.81
GNMA Certificat 20 77,468,520.30
FHA Debentures: 0 0.00
Total: 81 265,558,755.11
Current Wtd. Avg
Wtd. Avg. Term to
Asset Type Note Rate Maturity
Morgage Loans: 8.763% 371
GNMA Certificat 7.925% 391
FHA Debentures: 0.000% 0
Total: 8.518% 377
Ending
Loan Ending
Asset Type Count Balance
Morgage Loans: 61 187,970,088.59
GNMA Certificat 20 77,427,321.06
FHA Debentures: 0 0.00
Total: 81 265,397,409.65
Available Distribtion Amount: 2,009,689.29
Servicing Activity:
Prior Unreimbursed Advances: 560,813.89
Current Advances Made: 21,308.74
Reimbursed Prior Advances: 560,813.90
Advances Oustanding: 21,308.73
Aggregate Amount of Unpaid Advance Interest: 0.00
Current Accrued Servicing Fees Retained by The Master Serv 32,335.34
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 276,896.98 0.00
A-1 205,111.93 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 424,027.55 0.00
B 28,125.85 0.00
R-III 0.00 0.00
Totals: 1,848,343.84 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 0.00 276,896.98
A-1 0.00 205,111.93
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 28,125.84
R-III 0.00 0.00
Totals: 0.00 1,424,316.28
Summary of Defaulted/Liquidated Mortgage Loans:
FHA Project Id *Status Date of Default
0 0.00 0.00
0.00 0.00 0.00
No Activity to Report During The Related Collection Period
0 0 0
0 0 0
0 0 0
0 0 0
0 0 0.00
0 0 0.00
Ending
FHA Project Id Balance FHA Benefits
0 0.00 0.00
0 0.00 0.00
No Activity to Report During The Related Collection Period
0 0 0
0 0 0
0 0 0
0 0 0
0 0 0
0 0 0
Liquidation Realized
FHA Project Id Proceeds Loss
0 0.00 0.00
0 0.00 0.00
No Activity to Report During The Related Collection Period
0 0 0
0 0 0
0 0 0
0 0.00 0
0 0.00 0.00
0 0.00 0.00
FHA Project Id Description of Final Recovery Determination
0 0
0 0
No Activity to Report During The Related Collection Period
0 0
0 0
0 0
0 0
0 0
0 0
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**
51 06/01/97 13,268.14 13,268.14
66 06/01/97 8,040.60 8,040.60
Total 21,308.74 21,308.74
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
51 0.00 B
66 0.00 B
Total 0.00 0
Disclosure Doc Foreclosure Bankruptcy REO
Control # Date Date Date
51
66
Total
Loan Level Detail
Property
Disclosure Type Maturity
Control # Group Code Date
1 GNMA Multifamily 10/01/29
2 FHA Multifamily 09/01/27
3 GNMA Health Care 02/01/30
4 FHA Multifamily 03/01/21
5 FHA Multifamily 02/01/21
6 FHA Multifamily 11/01/29
7 FHA Health Care 12/01/34
8 FHA Multifamily 06/01/20
9 FHA Multifamily 09/01/31
10 GNMA Multifamily 03/01/31
11 FHA Health Care 10/01/31
12 GNMA Health Care 11/01/36
13 FHA Health Care 05/01/31
14 GNMA Multifamily 04/01/23
15 GNMA Multifamily 10/01/26
16 GNMA Multifamily 12/01/31
17 FHA Multifamily 06/01/31
18 FHA Multifamily 07/01/36
19 FHA Health Care 05/01/31
20 FHA Health Care 03/01/26
21 FHA Multifamily 09/01/29
22 FHA Health Care 10/01/26
23 FHA Health Care 08/01/30
24 FHA Multifamily 04/01/30
25 FHA Multifamily 06/01/36
26 GNMA Multifamily 10/01/31
27 FHA Multifamily 06/01/25
28 FHA Multifamily 12/01/20
29 FHA Health Care 10/01/31
30 FHA Health Care 12/01/31
31 FHA Multifamily 06/01/21
32 FHA Multifamily 10/01/23
33 GNMA Multifamily 10/01/31
34 FHA Multifamily 12/01/31
35 GNMA Multifamily 07/15/29
36 FHA Health Care 11/01/31
37 FHA Health Care 11/01/31
38 FHA Health Care 11/01/31
39 FHA Health Care 10/01/26
40 FHA Multifamily 06/01/31
41 FHA Health Care 11/01/17
42 GNMA Multifamily 10/01/34
43 FHA Health Care 03/01/36
44 FHA Multifamily 04/01/35
45 FHA Health Care 10/01/28
46 FHA Health Care 11/01/25
47 FHA Health Care 10/01/26
48 GNMA Health Care 08/15/31
49 FHA Health Care 06/01/32
50 GNMA Multifamily 11/01/26
51 FHA Multifamily 10/01/33
52 FHA Multifamily 05/01/22
53 FHA Health Care 05/01/36
54 FHA Health Care 05/01/32
55 GNMA Multifamily 04/01/24
56 FHA Health Care 12/01/34
57 GNMA Multifamily 01/01/30
58 FHA Multifamily 01/01/25
59 GNMA Multifamily 11/01/25
60 FHA Health Care 10/01/26
61 GNMA Multifamily 10/01/31
62 FHA Multifamily 09/01/27
63 FHA Multifamily 08/01/28
64 FHA Multifamily 11/01/29
65 GNMA Multifamily 07/01/30
66 FHA Multifamily 04/01/30
67 FHA Multifamily 05/01/30
68 FHA Health Care 12/01/35
69 FHA Multifamily 06/01/31
70 FHA Health Care 10/01/35
71 GNMA Multifamily 12/01/21
72 FHA Health Care 10/01/30
73 FHA Health Care 01/01/36
74 FHA Multifamily 12/01/27
75 GNMA Multifamily 11/01/34
76 FHA Health Care 11/01/30
77 FHA Multifamily 11/01/26
78 FHA Multifamily 01/01/36
79 FHA Multifamily 10/01/07
80 FHA Multifamily 08/01/34
81 FHA Multifamily 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 2,854,402.59
2 1.171 1,865,538.86
3 1.792 1,330,613.00
4 1.340 1,029,957.00
5 1.072 1,076,996.00
6 1.325 657,598.00
7 0.993 1,011,163.00
8 1.191 1,290,361.00
9 1.596 1,045,944.00
10 1.534 1,076,744.00
11 1.598 2,080,584.00
12 3.121 760,000.00
13 1.408 835,232.00
14 1.670
15 625,472.00
16 1.303
17
18 542,367.00
19 1.171 670,912.00
20 1.670 826,616.00
21 1.900 556,900.00
22 1.327 588,956.00
23 1.598 559,357.00
24 1.590 473,165.00
25 1.322 433,060.00
26 1.168 459,304.00
27 1.398
28 788,156.00
29 1.753 764,249.00
30 2.452 590,711.00
31 1.613 137,247.00
32 0.440 468,370.00
33 1.503 397,369.00
34 1.618 330,891.00
35 1.322
36 663,956.00
37 2.676 590,151.00
38 2.429 526,511.00
39 2.190 444,866.00
40 1.785
41 381,959.00
42 1.394 367,704.00
43 517,243.00
44 2.494 244,714.00
45 1.170 307,704.00
46 1.352 312,225.00
47 1.400 294,122.00
48 1.500 320,223.00
49 2.002 264,706.00
50 1.372 195,120.00
51 1.248 197,486.00
52 1.168 164,239.00
53 0.968 213,635.00
54 1.286 212,135.00
55 1.157 265,048.00
56 1,011,163.00
57 1.191 196,129.00
58 1.439 191,401.00
59 1.236 194,328.00
60 1.424 202,919.00
61 1.547 151,891.00
62 1.321 142,222.00
63 1.245 390,613.00
64 135,876.00
65 1.238 130,878.00
66 1.330 134,338.00
67 1.367 108,204.00
68 1.238 117,929.00
69 1.411 101,609.00
70 1.374 102,843.00
71 1.325 92,115.00
72 1.265 99,677.00
73 1.454
74 442,210.00
75 1.841
76 780,300.00
77 93,717.00
78 63,538.00
79 72,541.00
80 1.076 44,943.00
81 35,981.00
Ending
Disclosure Principal Note Scheduled
Control # Balance Rate P&I
1 12,398,370.30 8.125% 90,237
2 11,194,365.64 8.600% 86,768
3 10,994,434.73 8.200% 80,451
4 8,960,200.46 9.500% 80,030
5 8,117,766.83 8.500% 67,714
6 8,041,699.93 7.500% 55,180
7 7,921,504.80 8.500% 58,573
8 7,820,684.56 9.000% 67,378
9 7,767,118.96 8.250% 56,823
10 7,550,461.17 7.375% 50,312
11 7,376,415.09 8.550% 55,560
12 6,543,353.28 7.625% 43,630
13 5,904,459.64 7.875% 41,676
14 5,477,361.20 8.000% 41,559
15 5,416,197.04 7.750% 38,861
16 5,031,102.62 7.625% 34,343
17 4,987,313.37 8.275% 36,626
18 4,930,268.26 9.125% 38,605
19 4,742,840.28 7.875% 33,477
20 4,464,335.52 9.000% 36,256
21 4,444,523.70 8.900% 34,983
22 3,972,590.90 8.500% 30,718
23 3,964,428.36 8.300% 29,321
24 3,826,633.06 8.825% 29,816
25 3,803,635.37 9.500% 30,889
26 3,744,346.27 8.000% 26,601
27 3,669,513.99 9.750% 31,938
28 3,415,031.60 9.500% 37,477
29 3,465,792.04 8.500% 25,977
30 3,391,982.50 10.500% 30,515
31 3,288,728.20 8.250% 26,290
32 2,893,188.19 8.500% 25,963
33 2,906,876.41 7.625% 19,862
34 2,890,743.42 8.125% 20,858
35 2,846,746.43 8.200% 20,905
36 2,828,366.66 8.250% 20,674
37 2,770,461.81 8.250% 20,251
38 2,741,160.60 8.250% 20,036
39 2,686,147.68 8.500% 20,771
40 2,451,391.23 8.275% 18,002
41 2,420,226.10 9.750% 22,835
42 2,372,347.50 8.375% 17,256
43 2,205,082.59 9.125% 17,282
44 2,191,933.23 9.250% 17,434
45 2,175,338.80 10.000% 18,972
46 2,141,232.39 9.750% 18,584
47 2,113,080.21 8.500% 16,339
48 1,821,259.86 8.000% 12,950
49 1,790,155.17 10.500% 16,082
50 1,745,794.23 7.875% 12,668
51 1,721,689.27 9.500% 14,086
52 1,698,585.38 8.875% 14,135
53 1,704,464.80 9.500% 13,845
54 1,700,212.56 10.500% 15,277
55 1,677,082.22 8.625% 13,311
56 1,650,542.03 8.500% 12,204
57 1,615,596.20 7.500% 11,020
58 1,541,172.44 9.250% 12,904
59 1,492,682.12 8.000% 11,058
60 1,413,625.90 8.500% 10,931
61 1,343,165.48 7.750% 9,299
62 1,298,554.61 8.000% 9,516
63 1,293,456.62 10.000% 11,290
64 1,126,557.86 9.250% 9,149
65 1,041,294.70 8.700% 7,982
66 1,010,271.82 9.250% 8,188
67 899,297.35 9.250% 7,286
68 856,471.31 9.500% 6,964
69 839,340.42 8.275% 6,164
70 794,959.43 9.500% 6,467
71 786,673.13 7.650% 5,902
72 758,351.93 8.500% 5,713
73 698,575.46 8.750% 5,278
74 641,310.26 10.250% 5,735
75 622,176.17 8.500% 4,577
76 579,580.50 8.500% 4,365
77 548,911.21 9.250% 4,535
78 481,788.59 8.625% 3,594
79 460,307.84 8.500% 5,619
80 307,168.30 8.750% 2,332
81 174,551.57 9.500% 1,422
265,397,409.66 2,046,451
Loan
Disclosure Prepayment Status
Control # Prepayment Date Code (1)
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
26
27
28
29
30
31
32
33
34
35
36
37
38
39
40
41
42
43
44
45
46
47
48
49
50
51 B
52
53
54
55
56
57
58
59
60
61
62
63
64
65
66 B
67
68
69
70
71
72
73
74
75
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
(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
Realized Loss Detail
Dist. Disclosure Appraisal
Date Control # Date
Current Total
Cumulative
* Aggregate liquidation expenses also include outstanding P&I
advances and unpaid servicing fees, unpaid trustee fees, etc..
Beginning
Disclosure Appraisal Scheduled
Control # Value Balance
Gross Proceeds
Disclosure Gross as a % of
Control # Proceeds Sched Principal
Aggregate Net
Disclosure Liquidation Liquidation
Control # Expenses * Proceeds
Net Proceeds
Disclosure as a % of Realized
Control # Sched. BalanceLoss
Distribution Delinq 1 Month Delinq 2 Months Delinq 3+ Months
Date # Balance # Balance # Balance
07/25/97 0 0 0 0 0 0
0.00% 0.000% 0.00% 0.000% 0.00% 0.000%
06/25/97 0 0 0 0 0 0
0.00% 0.000% 0.00% 0.000% 0.00% 0.000%
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%
Distribution Foreclosure/BankruptcyREO Modifications
Date # Balance # Balance # Balance
07/25/97 0 0 0 0 0 0
0.00% 0.000% 0.00% 0.000% 0.00% 0.000%
06/25/97 0 0 0 0 0 0
0.00% 0.000% 0.00% 0.000% 0.00% 0.000%
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%
Note: Foreclosure and REO Totals are Included in the Appropriate Delinquency
Aging Category
Distribution Prepayments Curr Weighted Avg.
Date # Balance Coupon Remit
07/25/97 0 0 8.5184% 8.3522%
0.00% 0.000%
06/25/97 0 0 8.5184% 8.3523%
0.00% 0.000%
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%
Delinquent Loan Detail
Paid Outstanding
Disclosure DoThru Current P&I P&I
Control # Date Advance Advances**
51 06/01/97 13,268.14 13,268.14
66 06/01/97 8,040.60 8,040.60
Total 21,308.74 21,308.74
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
51 0.00 B
66 0.00 B
Total 0.00
Disclosure
Doc Foreclosure Bankruptcy REO
Control # Date Date Date
51
66
Pool Total
Distribution of Principal Balances
Current Scheduled Number Scheduled Based on
Balances of Loans Balance Balance
0 to 500,000 4 1,423,816 0.54%
500,000 to 1,000,000 11 8,025,647 3.02%
1,000,000 to 1,500,000 8 10,019,609 3.78%
1,500,000 to 2,000,000 11 18,666,554 7.03%
2,000,000 to 2,500,000 8 18,070,632 6.81%
2,500,000 to 3,000,000 8 22,563,691 8.50%
3,000,000 to 3,500,000 4 13,561,534 5.11%
3,500,000 to 4,000,000 6 22,981,148 8.66%
4,000,000 to 5,000,000 5 23,569,281 8.88%
5,000,000 to 6,000,000 4 21,829,121 8.23%
6,000,000 to 7,000,000 1 6,543,353 2.47%
7,000,000 to 8,000,000 5 38,436,185 14.48%
8,000,000 to 9,000,000 3 25,119,667 9.46%
9,000,000 to 10,000,000 0 0 0.00%
10,000,000 to 11,000,000 1 10,994,435 4.14%
11,000,000 to 12,000,000 1 11,194,366 4.22%
12,000,000 to 13,000,000 1 12,398,370 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 81 265,397,410 100.00%
Average Scheduled Balance is 3,276,511
Maximum Scheduled Balance is 12,398,370
Minimum Scheduled Balance is 174,552
Number Scheduled Based on
Property Types of Loans Balance Balance
MF- Housing 50 166,805,977 62.85%
Nursing Home 31 98,591,433 37.15%
Total 81 265,397,410 100.00%
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 7,550,461 2.84%
7.375%to 7.625% 5 24,138,628 9.10%
7.625%to 7.875% 6 19,939,130 7.51%
7.875%to 8.125% 7 29,123,318 10.97%
8.125%to 8.375% 12 47,851,838 18.03%
8.375%to 8.625% 17 57,384,307 21.62%
8.625%to 8.875% 5 7,572,257 2.85%
8.875%to 9.125% 5 23,864,895 8.99%
9.125%to 9.375% 6 7,318,144 2.76%
9.375%to 9.625% 8 21,431,004 8.08%
9.625%to 9.875% 3 8,230,972 3.10%
9.875%to 10.125% 2 3,468,795 1.31%
10.125%& Above 4 7,523,661 2.83%
Total 81 265,397,410 100.00%
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 44,136,902 16.63%
Texas 8 24,886,117 9.38%
Ohio 12 24,079,839 9.07%
Michigan 9 22,116,363 8.33%
Virginia 3 18,070,783 6.81%
Connecticut 4 14,862,096 5.60%
Colorado 1 11,194,366 4.22%
Massachusetts 3 11,064,729 4.17%
New Jersey 1 10,994,435 4.14%
New Hampshire 2 10,647,300 4.01%
Georgia 2 9,725,800 3.66%
Maryland 4 9,633,817 3.63%
Illinois 2 9,568,348 3.61%
South Dakota 3 8,339,989 3.14%
Pennsylvania 2 7,330,026 2.76%
Indiana 1 5,416,197 2.04%
California 3 5,118,326 1.93%
Arizona 1 4,444,524 1.67%
Florida 1 3,826,633 1.44%
Minnesota 2 3,064,855 1.15%
Maine 2 1,589,852 0.60%
North Carolina 1 1,298,555 0.49%
Kentucky 1 1,293,457 0.49%
Alabama 1 1,041,295 0.39%
Missouri 1 622,176 0.23%
Nebraska 1 548,911 0.21%
Oregon 2 481,720 0.18%
Total 81 265,397,410 100.00%
Loan Seasoning
Number Scheduled Based on
Number of Years of Loans Balance Balance
1 year or less 31 110,423,190 41.61%
1+ to 2 years 18 51,075,118 19.24%
2+ to 3 years 17 41,493,373 15.63%
3+ to 4 years 5 11,476,091 4.32%
4+ to 5 years 2 13,614,592 5.13%
5+ to 6 years 1 3,391,983 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 1,939,865 0.73%
10 years or more 5 31,983,197 12.05%
Total 81 265,397,410 100.00%
Weighted Average Seasoning is 3.4
Distribution of Amortization Type
Number Scheduled Based on
Amortization Type of Loans Balance Balance
Fully Amortizing 81 265,397,410 100.00%
Total 81 265,397,410 100.00%
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 3,875,339 1.46%
201 to 300 months 8 35,986,053 13.56%
301 to 500 months 71 225,536,017 84.98%
Total 81 265,397,410 100.00%
Weighted Average Months to Maturity is 377
Debt Service Number Scheduled Based on
Coverage Ratio (1) of Loans Balance Balance
0.500or less 1 3,288,728 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 9,740,285 3.67%
1.000to 1.125 2 9,420,508 3.55%
1.125to 1.250 13 42,929,532 16.18%
1.250to 1.375 15 47,175,963 17.78%
1.375to 1.500 9 21,685,340 8.17%
1.500to 1.625 9 41,680,957 15.71%
1.625to 1.750 2 10,647,300 4.01%
1.750to 1.875 4 17,936,855 6.76%
1.875to 2.000 1 4,464,336 1.68%
2.000to 2.125 1 1,821,260 0.69%
2.125& above 6 21,387,279 8.06%
Unknown 16 33,219,067 12.52%
Total 81 265,397,410 100.00%
Weighted Average Debt Service Coverage Ratio 1.509808
(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 81 265,397,410 100.00%
Total 81 265,397,410 100.00%
