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Previous: AMERICAN SOUTHWEST FINANCIAL SECURITIES CORP, 8-K, 1998-02-20 |
Next: ABC RAIL PRODUCTS CORP, 10-Q, 1998-02-20 |
SECURITIES 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):
January 26, 1998
AMERICAN SOUTHWEST FINANCIAL 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: January 26, 1998
EXHIBIT INDEX
Item 601(a) of
Exhibit Regulation S-K
Number Exhibit No. Description
ABN AMRO
LaSalle National Bank
Administrator:
Megan Francis (800) 246-5761
135 S. LaSalle Street Suite 1625
Chicago, IL 60674-4107
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: 01/26/98
Payment Date: 01/26/98
Prior Payment: 12/26/97
Record Date: 12/31/97
WAC: 8.498579%
WAMM: 375
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 249,131,668.24
02970K BF 3 1000.000000000 0.000000000 934.791319263
A-1 40,317,000.00 17,864,075.00
02970K BG 1 1000.000000000 0.000000000 443.090383709
A-2 38,978,000.00 38,978,000.00
02970K BH 9 1000.000000000 0.0000000001000.000000000
A-3 55,487,000.00 55,487,000.00
02970K BJ 5 1000.000000000 0.0000000001000.000000000
A-4 58,824,000.00 58,824,000.00
02970K BK 2 1000.000000000 0.0000000001000.000000000
A-Z 67,712,000.00 72,786,129.24
02970K BL 0 1000.000000000 0.0000000001074.936927576
B 5,192,464.00 5,192,464.00
9ABSA236 1000.000000000 0.0000000001000.000000000
R-III 0.00 0.00
9ABSA237 1000.000000000 0.000000000 0.000000000
266,510,464.00 249,131,668.24
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 11,551,939.26 0.00 0.00
02970K BG 1 286.527749088 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 0.00 439,628.22
02970K BL 0 0.000000000 0.000000000 6.492619034
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
11,551,939.26 0.00 439,628.22
Closing Interest Interest
Class Balance Payment Adjustment
CUSIP Per $1,000 Per $1,000 Per $1,000
S 238,019,357.20 824,763.71 575,790.65
02970K BF 3 893.095729254 3.094676650 2.160480461
A-1 6,312,135.74 291,299.13 191,930.21
02970K BG 1 156.562634621 7.225218394 4.760528065
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 73,225,757.46 0.00 0.00
02970K BL 0 1081.429546609 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
238,019,357.20 2,058,370.22 767,720.86
(2) Interest Paid minus Interest Adjustment minus Deferred Interest equals
Accrual
Pass-Through
Class Rate (2)
CUSIP Next Rate (3)
S 1.19923605%
02970K BF 3 1.18170679%
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 17,061,418.85
None 1000.000000 423.181756
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 73,588,785.39
None 1000.000000 1086.790900
B 5,192,46 5,192,464.00
None 1000.000000 1000.000000
R-II -
9ABSA238 1000.000000 0.000000
266,510,464. 249,131,668.24
Principal Principal Negative
Class Payment Adj. or Loss Amortization
CUSIP Per $1,000 Per $1,000 Per $1,000
A-1 11,623,402.33 0.00 0.00
None 288.300279 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 0.00 511,091.29
None 0.000000 0.000000 7.548016
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
11,623,402.33 0.00 511,091.29
Closing Interest Interest
Class Balance Payment Adjustment
CUSIP Per $1,000 Per $1,000 Per $1,000
A-1 5,438,016.52 171,071.78 52,576.24
None 134.881477 4.243167 1.304071
A-2 38,978,000.00 390,825.40 120,114.09
None 1000.000000 10.026820 3.081587
A-3 55,487,000.00 556,358.16 170,988.00
None 1000.000000 10.026820 3.081587
A-4 58,824,000.00 589,817.67 181,271.26
None 1000.000000 10.026820 3.081587
A-Z 74,099,876.68 226,770.23 226,770.23
None 1094.338916 3.349040 3.349040
B 5,192,464.00 52,063.90 16,001.03
None 1000.000000 10.026820 3.081587
R-II 0.00 0.00 0.00
9ABSA238 0.000000 0.000000 0.000000
238,019,357.20 1,986,907.14 767,720.85
Pass-Through
Class Rate (2)
CUSIP Next Rate (3)
A-1 8.33428006%
None 8.34139135%
A-2 8.33428006%
None 8.34139135%
A-3 8.33428006%
None 8.34139135%
A-4 8.33428006%
None 8.34139135%
A-Z 8.33428006%
None 8.34139135%
B 8.33428006%
None 8.34139135%
R-II 0.00000000%
9ABSA238 0.00000000%
Remic I
Original Opening
Class Face Value (1)Balance
CUSIP Per $1,000 Per $1,000
Regular Interes266,510,464.00249,131,668.25
None 1000.000000 934.791319
R-I 0.00 0.00
9ABSA239 1000.000000 0.000000
266,510,464.00249,131,668.25
Principal Principal Negative
Class Payment Adj. or Loss Amortization
CUSIP Per $1,000 Per $1,000 Per $1,000
Regular Interes 11,112,311 0.00 0.00
None 41.695590 0.000000 0.000000
R-I 0.00 0.00 0.00
9ABSA239 0.000000 0.000000 0.000000
11,112,311.04 0.00 0.00
Closing Interest Interest
Class Balance Payment Adjustment
CUSIP Per $1,000 Per $1,000 Per $1,000
Regular Interes238,019,357.21 2,497,998.44 767,720.86
None 893.095729 9.372984 2.880641
R-I 0.00 0.00 0.00
9ABSA239 0.000000 0.000000 0.000000
238,019,357.21 2,497,998.44 767,720.86
Pass-Through
Class Rate (2)
CUSIP Next Rate (3)
Regular Interes 8.33428006%
None 8.34139135%
R-I 0.00000000%
9ABSA239 0.00000000%
Other Related Information
Beginning
Loan Beginning
Asset Type Count Balance
Mortgage Loans: 59171,914,609.95
GNMA Certificat 20 77,217,058.30
FHA Debentures: 0 0.00
Total: 79249,131,668.25
Current Wtd. Avg
Wtd. Avg. Term to
Asset Type Note Rate Maturity
Mortgage Loans: 8.756% 370
GNMA Certificat 7.879% 385
FHA Debentures: 0.000% 0
Total: 8.499% 375
Ending
Loan Ending
Asset Type Count Balance
Mortgage Loans: 59171,807,145.79
GNMA Certificat 19 66,212,211.41
FHA Debentures: 0 0.00
Total: 78238,019,357.20
Available Distribution Amount: 13,610,309.48
Servicing Activity:
Prior Unreimbursed Advances: 30,793.56
Current Advances Made: 68,883.07
Reimbursed Prior Advances: 30,793.57
Advances Outstanding: 68,883.06
Aggregate Amount of Unpaid Advance Interest: 0.00
Current Accrued Servicing Fees Retained by The Master Serv 29,957.92
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 248,973.06 0.00
A-1 99,368.92 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 439,628.22 0.00
B 28,125.85 0.00
R-III 0.00 0.00
Totals: 1,730,277.58 0.00
Allocated Prior Ending
Prepayment Unpaid Unpaid
Class Premiums Interest Interest
S 575,790.65 0.00 0.00
A-1 191,930.21 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 0.00 588.87 588.87
R-III 0.00 0.00 0.00
Totals: 767,720.86 588.87 588.87
Other Actual
Interest Distribution
Class Shortfalls of Interest
S 0.00 824,763.71
A-1 0.00 291,299.13
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 2,058,370.22
Summary of Defaulted/Liquidated Mortgage Loans:
FHA Project Id *Status Date of Default
0 0.00 0.00
66 2.00 35,612.00
0.00
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
66 89,991.03 930,300.82
0
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
66 0.00 0.00
0
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
66 0
0
0 0
0 0
0 0
0 0
0 0
0 0
Status of Claims Made Under the FHA Mortgage Insurance:
The initial 90% of the Insurance Proceeds have been received on # 66.
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**
22 12/01/97 30,140.67 30,140.67
29 12/01/97 25,472.94 25,472.94
51 12/01/97 13,269.46 13,269.46
Total 68,883.07 68,883.07
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
22 0.00 B
29 0.00 B
51 0.00 B
Total 0.00 0
Disclosure Doc Foreclosure Bankruptcy REO
Control # Date Date Date
22
29
51
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 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 12,359,959.62 8.125% 90,245
2
3 8.200% 74,944
4 8,904,538.90 9.500% 80,030
5 8,055,394.30 8.500% 67,714
6 8,011,719.72 7.500% 55,180
7 7,906,467.32 8.500% 58,573
8 7,767,358.25 9.000% 67,378
9 7,746,218.01 8.250% 56,823
10 7,526,625.70 7.375% 50,319
11 7,358,075.81 8.550% 55,560
12 6,530,833.56 7.625% 43,632
13 5,886,602.14 7.875% 41,676
14 5,446,556.48 8.000% 41,569
15 5,392,512.21 7.750% 38,866
16 5,016,616.51 7.625% 34,346
17 4,973,676.41 8.275% 36,626
18 4,923,454.99 9.125% 38,605
19 4,728,496.00 7.875% 33,477
20 4,447,377.14 9.000% 36,256
21 4,432,183.16 8.900% 34,983
22 3,956,840.80 8.500% 30,718
23 3,952,829.78 8.300% 29,321
24 3,816,400.30 8.825% 29,816
25 3,798,879.16 9.500% 30,889
26 3,734,343.58 8.000% 26,603
27 3,656,513.15 9.750% 31,938
28
29 3,457,071.18 8.500% 25,977
30 3,386,858.96 10.500% 30,515
31 3,266,267.74 8.250% 26,290
32 2,859,784.15 8.500% 25,963
33 2,898,388.28 7.625% 19,864
34 2,882,901.44 8.125% 20,858
35 2,837,875.17 8.200% 20,907
36 2,820,865.79 8.250% 20,674
37 2,763,114.48 8.250% 20,251
38 2,733,891.01 8.250% 20,036
39 2,675,497.96 8.500% 20,771
40 2,444,688.27 8.275% 18,002
41 2,400,814.36 9.750% 22,835
42 2,368,072.81 8.375% 17,258
43 2,201,938.72 9.125% 17,282
44 2,188,642.88 9.250% 17,434
45 2,170,165.32 10.000% 18,972
46 2,133,967.53 9.750% 18,584
47 2,104,702.47 8.500% 16,339
48 1,816,323.09 8.000% 12,951
49 1,787,592.63 10.500% 16,082
50 1,738,399.07 7.875% 12,670
51 1,718,897.81 9.500% 14,086
52 1,688,972.76 8.875% 14,135
53 1,702,316.18 9.500% 13,845
54 1,697,756.81 10.500% 15,277
55 1,669,397.92 8.625% 13,313
56 1,647,408.76 8.500% 12,204
57 1,609,972.20 7.500% 11,021
58 1,534,910.11 9.250% 12,904
59 1,485,926.75 8.000% 11,059
60 1,408,021.35 8.500% 10,931
61 1,339,357.68 7.750% 9,299
62 1,293,316.02 8.000% 9,516
63 1,290,326.61 10.000% 11,290
64 1,123,713.56 9.250% 9,149
65 1,038,651.88 8.700% 7,982
66 89,991.03 9.250% 694
67 897,134.28 9.250% 7,286
68 855,347.05 9.500% 6,964
69 837,045.36 8.275% 6,164
70 793,898.89 9.500% 6,467
71 781,262.77 7.650% 5,903
72 756,264.35 8.500% 5,713
73 697,451.38 8.750% 5,278
74 639,733.66 10.250% 5,735
75 621,136.13 8.500% 4,578
76 577,996.90 8.500% 4,365
77 547,052.37 9.250% 4,535
78 480,985.80 8.625% 3,594
79 445,905.06 8.500% 5,619
80 306,606.38 8.750% 2,332
81 174,303.08 9.500% 1,422
238,019,357.20 1,909,258
Loan
Disclosure Prepayment Status
Control # Prepayment Date Code (1)
1
2 12/1/97 5
3 10,967,440.78 1/1/98 5
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22 B
23
24
25
26
27
28 12/1/97 5
29 B
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
67
68
69
70
71
72
73
74
75
76
77
78
79
80
81
10,967,440.78
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
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
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
01/26/98 0 0 0 0 0 0
0.00% 0.000% 0.00% 0.000% 0.00% 0.000%
12/26/97 0 0 0 0 0 0
0.00% 0.000% 0.00% 0.000% 0.00% 0.000%
11/25/97 0 0 0 0 0 0
0.00% 0.000% 0.00% 0.000% 0.00% 0.000%
10/27/97 0 0 0 0 0 0
0.00% 0.000% 0.00% 0.000% 0.00% 0.000%
09/25/97 0 0 1 1009468 0 0
0.00% 0.000% 1.23% 0.381% 0.00% 0.000%
08/25/97 1 1009871 0 0 0 0
1.23% 0.381% 0.00% 0.000% 0.00% 0.000%
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%
Distribution Foreclosure/BankruptcyREO Modifications
Date # Balance # Balance # Balance
01/26/98 0 0 0 0 0 0
0.00% 0.000% 0.00% 0.000% 0.00% 0.000%
12/26/97 0 0 0 0 0 0
0.00% 0.000% 0.00% 0.000% 0.00% 0.000%
11/25/97 0 0 0 0 0 0
0.00% 0.000% 0.00% 0.000% 0.00% 0.000%
10/27/97 0 0 0 0 0 0
0.00% 0.000% 0.00% 0.000% 0.00% 0.000%
09/25/97 0 0 0 0 0 0
0.00% 0.000% 0.00% 0.000% 0.00% 0.000%
08/25/97 0 0 0 0 0 0
0.00% 0.000% 0.00% 0.000% 0.00% 0.000%
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%
Note: Foreclosure and REO Totals are Included in the Appropriate Delinquency
Aging Category
Distribution Prepayments Curr Weighted Avg.
Date # Balance Coupon Remit
01/26/98 1 10967441 8.4986% 8.3343%
1.27% 4.402%
12/26/97 2 14523180 8.5157% 8.3497%
2.47% 5.505%
11/25/97 0 0 8.5157% 8.3497%
0.00% 0.000%
10/27/97 0 0 8.5183% 8.3522%
0.00% 0.000%
09/25/97 0 0 8.5183% 8.3522%
0.00% 0.000%
08/25/97 0 0 8.5183% 8.3522%
0.00% 0.000%
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%
Delinquent Loan Detail
Paid Outstanding
Disclosure DoThru Current P&I P&I
Control # Date Advance Advances**
22 12/01/97 30,140.67 30,140.67
29 12/01/97 25,472.94 25,472.94
51 12/01/97 13,269.46 13,269.46
Total 68,883.07 68,883.07
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 DoProtectionAdvance Servicer
Control # Advances Description Transfer Date
22 0.00 B
29 0.00 B
51 0.00 B
Total 0.00
Disclosure DoForeclosurBankruptcy REO
Control # Date Date Date
22
29
51
Pool Total
Distribution of Principal Balances
Current Scheduled Number Scheduled Based on
Balances of Loans Balance Balance
0 to 500,000 5 1,497,791 0.63%
500,000 to 1,000,000 11 8,004,323 3.36%
1,000,000 to 1,500,000 7 8,979,314 3.77%
1,500,000 to 2,000,000 11 18,611,947 7.82%
2,000,000 to 2,500,000 8 18,012,992 7.57%
2,500,000 to 3,000,000 8 22,472,318 9.44%
3,000,000 to 3,500,000 3 10,110,198 4.25%
3,500,000 to 4,000,000 6 22,915,807 9.63%
4,000,000 to 5,000,000 5 23,505,188 9.88%
5,000,000 to 6,000,000 4 21,742,287 9.13%
6,000,000 to 7,000,000 1 6,530,834 2.74%
7,000,000 to 8,000,000 5 38,304,745 16.09%
8,000,000 to 9,000,000 3 24,971,653 10.49%
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 0 0 0.00%
12,000,000 to 13,000,000 1 12,359,960 5.19%
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 78 238,019,357 100.00%
Average Scheduled Balance is 3,012,903
Maximum Scheduled Balance is 12,359,960
Minimum Scheduled Balance is 89,991
Number Scheduled Based on
Property Types of Loans Balance Balance
MF- Housing 48 150,662,569 63.30%
Nursing Home 30 87,356,788 36.70%
Total 78 238,019,357 100.00%
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 7,526,626 3.16%
7.375%to 7.625% 5 24,067,530 10.11%
7.625%to 7.875% 6 19,866,630 8.35%
7.875%to 8.125% 7 29,019,327 12.19%
8.125%to 8.375% 11 36,744,545 15.44%
8.375%to 8.625% 16 45,980,950 19.32%
8.625%to 8.875% 5 7,548,083 3.17%
8.875%to 9.125% 5 23,772,312 9.99%
9.125%to 9.375% 6 6,381,444 2.68%
9.375%to 9.625% 7 17,948,181 7.54%
9.625%to 9.875% 3 8,191,295 3.44%
9.875%to 10.125% 2 3,460,492 1.45%
10.125%& Above 4 7,511,942 3.16%
Total 78 238,019,357 100.00%
W/Avg Mortgage Interest Rate is 8.4986%
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 7 40,478,122 17.01%
Texas 8 24,814,506 10.43%
Ohio 12 24,010,241 10.09%
Michigan 9 22,027,827 9.25%
Virginia 3 18,016,310 7.57%
Connecticut 4 14,813,091 6.22%
Colorado 3 11,039,803 4.64%
Massachusetts 2 10,615,098 4.46%
New Jersey 2 9,696,791 4.07%
New Hampshire 4 9,589,864 4.03%
Georgia 2 9,546,719 4.01%
Maryland 3 8,317,871 3.49%
Illinois 2 7,312,096 3.07%
South Dakota 1 5,392,512 2.27%
Pennsylvania 3 5,102,286 2.14%
Indiana 1 4,432,183 1.86%
California 1 3,816,400 1.60%
Arizona 2 3,058,255 1.28%
Florida 1 1,293,316 0.54%
Minnesota 1 1,290,327 0.54%
Maine 1 1,038,652 0.44%
North Carolina 2 667,988 0.28%
Kentucky 1 621,136 0.26%
Alabama 1 547,052 0.23%
Missouri 2 480,909 0.20%
Nebraska
Oregon
Total 78 238,019,357 100.00%
Loan Seasoning
Number Scheduled Based on
Number of Years of Loans Balance Balance
1 year or less 2 7,899,518 3.32%
1+ to 2 years 42 136,048,847 57.16%
2+ to 3 years 11 16,451,770 6.91%
3+ to 4 years 12 36,310,447 15.26%
4+ to 5 years 3 5,204,247 2.19%
5+ to 6 years 2 5,787,673 2.43%
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 1 639,734 0.27%
10 years or more 5 29,677,121 12.47%
Total 78 238,019,357 100.00%
Weighted Average Seasoning is 3.8
Distribution of Amortization Type
Number Scheduled Based on
Amortization Type of Loans Balance Balance
Fully Amortizing 78 238,019,357 100.00%
Total 78 238,019,357 100.00%
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 1 445,905 0.19%
121 to 200 months 0 0 0.00%
201 to 300 months 8 35,724,393 15.01%
301 to 500 months 69 201,849,059 84.80%
Total 78 238,019,357 100.00%
Weighted Average Months to Maturity is 375
Debt Service Number Scheduled Based on
Coverage Ratio (1) of Loans Balance Balance
0.500or less 1 3,266,268 1.37%
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 9,700,692 4.08%
1.000to 1.125 2 9,350,444 3.93%
1.125to 1.250 13 42,828,940 17.99%
1.250to 1.375 14 35,119,673 14.75%
1.375to 1.500 9 21,612,172 9.08%
1.500to 1.625 9 41,502,925 17.44%
1.625to 1.750 2 10,615,098 4.46%
1.750to 1.875 2 3,315,232 1.39%
1.875to 2.000 1 4,447,377 1.87%
2.000to 2.125 1 1,816,323 0.76%
2.125& above 6 21,334,957 8.96%
Unknown 16 33,109,255 13.91%
Total 78 238,019,357 100.00%
Weighted Average Debt Service Coverage Ratio 1.50034
(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 78 238,019,357 100.00%
Total 78 238,019,357 100.00%
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