MERIT SECURITIES CORPORATION
Monthly Payment Report
Payment Statement
MERIT 6
Payment Date: 28-Apr-98
Reporting Month: March
<TABLE>
<CAPTION>
Class
Interest Beginning Interest Interest Principal Total Applied Ending
Class Rate Balance Accrual Payment Payment Distribution Losses Balance
<S> <C> <C> <C> <C> <C> <C> <C> <C>
Class A1 6.187500% $174,301,775.77 $898,743.53 $898,743.53 $11,026,799.15 $11,925,542.68 $0.00 $163,274,976.62
Class A2 13.733250% $75,912,000.00 $868,765.74 $868,765.74 $0.00 $868,765.74 $0.00 $75,912,000.00
Class A3 6.200000% $17,100,359.07 $88,351.86 $88,351.86 $1,029,137.52 $1,117,489.38 $0.00 $16,071,221.55
Class A4 6.600000% $6,000,000.00 $33,000.00 $33,000.00 $0.00 $33,000.00 $0.00 $6,000,000.00
$273,314,134.84 $1,888,861.13 $1,888,861.13 $12,055,936.67$13,944,797.80 $0.00 $261,258,198.17
</TABLE>
<TABLE>
<CAPTION>
Class CUSIP Priority Principal Type Interest Type
<S> <C> <C> <C> <C>
Class A1 589962AP4 Senior Sequential Floater
Class A2 589962AQ2 Senior Sequential Floater
Class A3 589962AR0 Senior Sequential Fixed
Class A4 589962AS8 Senior Sequential Fixed
</TABLE>
MERIT SECURITIES CORPORATION
Payments per Bond Denomination
MERIT 6
Payment Date: 28-Apr-98
Reporting Month: March
<TABLE>
<CAPTION>
Original Interest Interest Principal Remaining
Original Pct Integral Record Accrual Payment Payment Ending Principal
Class Balance Pool Denomination Date Factor Factor Factor Balance Factor
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
Class A1 $473,800,000.00 79.58% $1,000.00 31-Mar-98 1.89688377 1.89688377 23.27310922 $163,274,976.62 0.34460738
Class A2 $75,912,000.00 12.75% $1,000.00 31-Mar-98 11.44437954 11.44437954 0.00000000 $75,912,000.00 1.00000000
Class A3 $26,200,000.00 4.40% $1,000.00 31-Mar-98 3.37220840 3.37220840 39.28005802 $16,071,221.55 0.61340540
Class A4 $6,000,000.00 1.01% $1,000.00 31-Mar-98 5.50000000 5.50000000 0.00000000 $6,000,000.00 1.00000000
$581,912,000.00 $261,258,198.17
</TABLE>
MERIT SECURITIES CORPORATION
Funds Account Activity Report
MERIT 6
Payment Date: 28-Apr-98
Report Date: March
<TABLE>
<CAPTION>
Collateral Proceeds Account
Beginning Balance $0.00
Deposits Withdrawals
<S> <C> <C> <C>
Interest Net of Servicing Fee $1,984,667.41 Interest Payments $1,888,861.13
Principal $12,055,936.67 Principal Payments $12,055,936.67
Deposits From Reserve Fund $0.00 Surplus $84,920.52
Other Deposits $0.00 MBIA Fee $10,885.76
Discount Principal Reserve $0.00
Total Deposit $ 14,040,604.08 Total Withdrawals $ 14,040,604.08
Ending Balance $0.00
<FN>
Note: "Principal" and Interest Net of Servicing Fee" includes Advances on Delinquencies
</FN>
</TABLE>
MERIT SECURITIES CORPORATION
Credit Enhancement Summary
MERIT 6
Payment Date: 28-Apr-98
Reporting Month March
Reserve Funds and Subordination
<TABLE>
Initial Coverage Beginning Coverage Adjustments Losses Insured Balance Ending Coverage
Type
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
Pool Over Collateralization 2.26% $13,474,965.80 4.30% $12,287,816.45 $0.00 $49,207.62 $273,496,807.01 4.47% $12,238,608.83
</TABLE>
Class Total Distribution
Surplus $84,920.52
Delinquency Statistics
Current % of
# of Loans Balance Current Balance
30+ Days 18 $2,408,973 0.88%
60+ Days 11 $3,066,024 1.12%
90+ Days 13 $1,999,336 0.73%
Foreclosure 7 $1,564,297 0.57%
REO 7 $883,017 0.32%
Totals 56 $9,921,647 3.63%
Advances on Delinquencies $82,770.28
Non-Recoverable Advances on Delinquencies $0.00
