MERIT SECURITIES CORPORATION
Monthly Payment Report
Payment Statement
MERIT 6
Payment Date: 28-May-98
Reporting Month: April
<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 6.156250% $163,274,976.62 $837,634.65 $837,634.65 $10,452,072.61$11,289,707.26 $0.00 $152,822,904.01
Class A2 13.459840% $75,912,000.00 $851,469.52 $851,469.52 $0.00 $851,469.52 $0.00 $75,912,000.00
Class A3 6.200000% $16,071,221.55 $83,034.64 $83,034.64 $479,396.83 $562,431.47 $0.00 $15,591,824.72
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
$261,258,198.17 $1,805,138.81 $1,805,138.81 $10,931,469.44 $12,736,608.25 $0.00 $250,326,728.73
</TABLE>
Class CUSIP Priority PrincipalType Interest Type
Class A1 589962AP4 Senior Sequential Floater
Class A2 589962AQ2 Senior Sequential Floater
Class A3 589962AR0 Senior Sequential Fixed
Class A4 589962AS8 Senior Sequential Fixed
MERIT SECURITIES CORPORATION
Payments per Bond Denomination
MERIT 6
Payment Date: 28-May-98
Reporting Month: April
<TABLE>
<CAPTION>
Interest Interest Principal
Original Original Integral Record Accrual Payment Payment Ending Remaining
Class Balance Pct Pool Denomination Date Factor Factor Factor Balance Principal Factor
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
Class A1 $473,800,000.00 79.58% $1,000.00 30-Apr-98 1.76790766 1.76790766 22.06009415 $152,822,904.01 0.32254729
Class A2 $75,912,000.00 12.75% $1,000.00 30-Apr-98 11.21653388 11.21653388 0.00000000 $75,912,000.00 1.00000000
Class A3 $26,200,000.00 4.40% $1,000.00 30-Apr-98 3.16926107 3.16926107 18.29758893 $15,591,824.72 0.59510781
Class A4 $6,000,000.00 1.01% $1,000.00 30-Apr-98 5.50000000 5.50000000 0.00000000 $6,000,000.00 1.00000000
$581,912,000.00 $250,326,728.73
</TABLE>
MERIT SECURITIES CORPORATION
Funds Account Activity Report
MERIT 6
Payment Date: 28-May-98
Report Date: April
<TABLE>
<CAPTION>
Collateral Proceeds Account
Beginning Balance $0.00
Deposits Withdrawals
<S> <C> <C> <C>
Interest Net of Servicing Fee $1,900,130.60 Interest Payments $ 1,805,138.81
Principal $10,931,469.44 Principal Payments $10,931,469.44
Deposits From Reserve Fund $0.00 Surplus $ 84,561.51
Other Deposits $0.00 MBIA Fee $ 10,430.28
Discount Principal Reserve $0.00
Total Deposit $12,831,600.04 Total Withdrawals $12,831,600.04
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-May-98
Reporting Month April
Reserve Funds and Subordination
<TABLE>
<CAPTION>
Initial Coverage Beginning Coverage Adjustments Losses Insured Balance Ending Coverage
Type
<S> <C> <C> <C> <C> <C>
Pool Over Collateralization 2.26%$13,474,965.80 4.47% $12,238,608.83 $0.00 $20,095.67 $262,545,241.90 4.65%$12,218,513.16
</TABLE>
Class Total Distribution
Surplus $84,561.51
Delinquency Statistics
Current % of
# of Loans Balance Current Balance
30+ Days 22 $3,901,540 1.49%
60+ Days 10 $1,403,782 0.53%
90+ Days 11 $2,599,612 0.99%
Foreclosure 11 $2,265,286 0.86%
REO 7 $882,483 0.34%
Totals 61 $11,052,702 4.21%
Advances on Delinquencies $0.00
Non-Recoverable Advances on Delinquencies $0.00
