SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Form 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
Date of Report (Date of earliest event reported)
December 25, 1996
RESIDENTIAL ASSET SECURITIES CORP
(Exact name of the registrant as specified in its charter)
Delaware 33-56893 51-0362653
(State or other (Commission File Number) (I.R.S Employee
jurisdiction of Identification No.)
incorporation)
8400 Normandale Lake Boulevard 55437
Minneapolis, Minnesota (Zip Code)
(Address of Principal
Executive Offices)
Registrant's telephone number, including area code
(612) 832-7000
Item 5. Other Events
<PAGE>
See the respective monthly reports, each reflecting the required information for
the December 1996 distribution to holders of the following series of Conduit
Mortgage Pass-Through Certificates.
Master Serviced by Residential Funding Corporation
1995-KS1 RASC
1995-KS2 RASC
1995-KS3 RASC
1995-KS4 RASC
1996-KS1 RASC
1996-KS2 RASC
1996-KS3 RASC
1996-KS4 RASC
Item 7. Financial Statements and Exhibits
(a) See attached monthly reports
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed onits behalf by the
undersigned thereunto duly authorized.
RESIDENTIAL ASSET
SECURITIES CORP
By: /s/Davee Olson
Name: Davee Olson
Title: Executive Vice President
and Chief Financial Officer
Dated: December 25, 1996
<PAGE>
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RESIDENTIAL FUNDING CORPORATION (MASTER SERVICER)
RESIDENTIAL ASSET SECURITIES CORPORATION (COMPANY)
MORTGAGE PASS-THROUGH CERTIFICATES SERIES 1995-KS1 (POOL # 4173)
STATEMENT TO CERTIFICATEHOLDERS
DISTRIBUTION SUMMARY FOR POOL# 4173
_______________________________________________________________________________
PRINCIPAL CURRENT
ORIGINAL BALANCE BEFORE PASS-THROUGH PRINCIPAL
CLASS CUSIP FACE VALUE DISTRIBUTION RATE DISTRIBUTION
_______________________________________________________________________________
A 76110WAB2 94,350,062.00 45,847,093.41 6.087500 % 1,918,348.60
R 0.00 1,887,001.24 0.000000 % 0.00
- -------------------------------------------------------------------------------
94,350,062.00 47,734,094.65 1,918,348.60
===============================================================================
_______________________________________________________________________________
REMAINING
INTEREST TOTAL DEFERRED REALIZED PRINCIPAL
DISTRIBUTION DISTRIBUTION INTEREST LOSSES BALANCE
_______________________________________________________________________________
A 237,248.54 2,155,597.14 0.00 0.00 43,928,744.81
R 169,096.16 169,096.16 0.00 0.00 1,887,001.24
- -------------------------------------------------------------------------------
406,344.70 2,324,693.30 0.00 0.00 45,815,746.05
===============================================================================
_______________________________________________________________________________
AMOUNTS PER $1,000 UNIT
_______________________________________________________________________________
BEGINNING ENDING
BALANCE PRINCIPAL INTEREST TOTAL DEFERRED BALANCE
CLASS FACTOR FACTOR FACTOR DISTRIBUTION INTEREST FACTOR
_______________________________________________________________________________
A 485.925419 20.332245 2.514556 22.846801 0.000000 465.593174
_______________________________________________________________________________
DETERMINATION DATE 20-December-96
DISTRIBUTION DATE 26-December-96
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RESIDENTIAL FUNDING CORPORATION (MASTER SERVICER)
RESIDENTIAL ASSET SECURITIES CORPORATION (COMPANY)
MORTGAGE PASS-THROUGH CERTIFICATES 1995-KS1 (POOL # 4173)
STATEMENT TO CERTIFICATEHOLDERS
ADDITIONAL RELATED INFORMATION FOR POOL 4173
_______________________________________________________________________________
SERVICING COMPENSATION RECEIVED BY SUB-SERVICER 18,374.62
SERVICING COMPENSATION RECEIVED BY MASTER SERVICER 0.00
SUBSERVICER ADVANCES THIS MONTH 72,837.61
MASTER SERVICER ADVANCES THIS MONTH 0.00
NUMBER OF PRINCIPAL
DELINQUENCIES: LOANS BALANCE
(A) ONE MONTHLY PAYMENT: 39 3,866,583.41
(B) TWO MONTHLY PAYMENTS: 7 752,002.19
(C) THREE OR MORE MONTHLY PAYMENTS: 4 510,971.64
FORECLOSURES
NUMBER OF LOANS 22
AGGREGATE PRINCIPAL BALANCE 2,563,866.11
SCHEDULED PRINCIPAL BALANCE OF MORTGAGE LOANS AFTER
DISTRIBUTION 45,815,746.05
AGGREGATE NUMBER OF LOANS IN THE POOL AS OF THE
DETERMINATION DATE 435
NUMBER OF REO LOANS ACQUIRED
INCLUDING ANY PENDING CASH LIQUIDATIONS 0
BOOK VALUE OF REAL ESTATE ACQUIRED THROUGH
FORECLOSURE OR GRANT OF A DEED IN LIEU OF
FORECLOSURE, INCLUDING ANY PENDING CASH LIQUIDATIONS 0.00
REMAINING SUBCLASS INTEREST SHORTFALL 0.00
CLASS A SHORTFALL (PRINCIPAL) 0.00
CLASS A SHORTFALL (INTEREST) 0.00
TOTAL PREPAYMENTS INCLUDED IN THIS DISTRIBUTION 1,897,031.98
TOTAL REPURCHASES INCLUDED IN THIS DISTRIBUTION 0.00
DISTRIBUTION PERCENTAGES:
SENIOR SUBORDINATE
PERCENTAGE FOR CURRENT DISTRIBUTION 96.04684820 % 3.95315180 %
CURRENT PREPAYMENT PERCENTAGE 100.00000000 % 0.00000000 %
PERCENTAGE FOR NEXT DISTRIBUTION 95.88132600 % 4.11867400 %
BANKRUPTCY AMOUNT AVAILABLE 100,000.00
FRAUD AMOUNT AVAILABLE 2,830,502.00
SPECIAL HAZARD AMOUNT AVAILABLE 1,238,927.00
ENDING GROSS WEIGHTED AVERAGE INTEREST RATE 11.05266607
ENDING WEIGHTED AVERAGE MATURITY, IN MONTHS 336.41
POOL TRADING FACTOR: 48.55931737
................................................................................
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RESIDENTIAL FUNDING CORPORATION (MASTER SERVICER)
RESIDENTIAL ASSET SECURITIES CORPORATION (COMPANY)
MORTGAGE PASS-THROUGH CERTIFICATES SERIES 1995-KS2 (POOL # 4179)
STATEMENT TO CERTIFICATEHOLDERS
DISTRIBUTION SUMMARY FOR POOL# 4179
_______________________________________________________________________________
PRINCIPAL CURRENT
ORIGINAL BALANCE BEFORE PASS-THROUGH PRINCIPAL
CLASS CUSIP FACE VALUE DISTRIBUTION RATE DISTRIBUTION
_______________________________________________________________________________
A 76110WAC0 105,461,520.00 64,854,568.12 5.937500 % 3,436,167.65
R 0.00 3,652,023.42 0.000000 % 0.00
- -------------------------------------------------------------------------------
105,461,520.00 68,506,591.54 3,436,167.65
===============================================================================
_______________________________________________________________________________
REMAINING
INTEREST TOTAL DEFERRED REALIZED PRINCIPAL
DISTRIBUTION DISTRIBUTION INTEREST LOSSES BALANCE
_______________________________________________________________________________
A 328,047.98 3,764,215.63 0.00 0.00 61,418,400.47
R 0.00 0.00 135,867.21 0.00 3,787,890.63
- -------------------------------------------------------------------------------
328,047.98 3,764,215.63 135,867.21 0.00 65,206,291.10
===============================================================================
_______________________________________________________________________________
AMOUNTS PER $1,000 UNIT
_______________________________________________________________________________
BEGINNING ENDING
BALANCE PRINCIPAL INTEREST TOTAL DEFERRED BALANCE
CLASS FACTOR FACTOR FACTOR DISTRIBUTION INTEREST FACTOR
_______________________________________________________________________________
A 614.959543 32.582194 3.110594 35.692788 0.000000 582.377349
_______________________________________________________________________________
DETERMINATION DATE 20-December-96
DISTRIBUTION DATE 26-December-96
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RESIDENTIAL FUNDING CORPORATION (MASTER SERVICER)
RESIDENTIAL ASSET SECURITIES CORPORATION (COMPANY)
MORTGAGE PASS-THROUGH CERTIFICATES 1995-KS2 (POOL # 4179)
STATEMENT TO CERTIFICATEHOLDERS
ADDITIONAL RELATED INFORMATION FOR POOL 4179
_______________________________________________________________________________
SERVICING COMPENSATION RECEIVED BY SUB-SERVICER 26,431.90
SERVICING COMPENSATION RECEIVED BY MASTER SERVICER 0.00
SUBSERVICER ADVANCES THIS MONTH 111,938.45
MASTER SERVICER ADVANCES THIS MONTH 9,010.94
NUMBER OF PRINCIPAL
DELINQUENCIES: LOANS BALANCE
(A) ONE MONTHLY PAYMENT: 52 5,740,784.15
(B) TWO MONTHLY PAYMENTS: 11 946,700.78
(C) THREE OR MORE MONTHLY PAYMENTS: 5 629,543.62
FORECLOSURES
NUMBER OF LOANS 49
AGGREGATE PRINCIPAL BALANCE 4,853,449.46
SCHEDULED PRINCIPAL BALANCE OF MORTGAGE LOANS AFTER
DISTRIBUTION 65,206,291.10
AGGREGATE NUMBER OF LOANS IN THE POOL AS OF THE
DETERMINATION DATE 602
NUMBER OF REO LOANS ACQUIRED
INCLUDING ANY PENDING CASH LIQUIDATIONS 7
BOOK VALUE OF REAL ESTATE ACQUIRED THROUGH
FORECLOSURE OR GRANT OF A DEED IN LIEU OF
FORECLOSURE, INCLUDING ANY PENDING CASH LIQUIDATIONS 1,043,552.36
REMAINING SUBCLASS INTEREST SHORTFALL 0.00
CLASS A SHORTFALL (PRINCIPAL) 0.00
CLASS A SHORTFALL (INTEREST) 0.00
TOTAL PREPAYMENTS INCLUDED IN THIS DISTRIBUTION 3,125,744.37
TOTAL REPURCHASES INCLUDED IN THIS DISTRIBUTION 40,483.05
DISTRIBUTION PERCENTAGES:
SENIOR SUBORDINATE
PERCENTAGE FOR CURRENT DISTRIBUTION 94.66909190 % 5.33090810 %
CURRENT PREPAYMENT PERCENTAGE 100.00000000 % 0.00000000 %
PERCENTAGE FOR NEXT DISTRIBUTION 94.19091230 % 5.80908770 %
BANKRUPTCY AMOUNT AVAILABLE 100,000.00
FRAUD AMOUNT AVAILABLE 1,459,211.00
SPECIAL HAZARD AMOUNT AVAILABLE 1,488,692.00
ENDING GROSS WEIGHTED AVERAGE INTEREST RATE 10.62532641
ENDING WEIGHTED AVERAGE MATURITY, IN MONTHS 340.34
POOL TRADING FACTOR: 61.82946239
................................................................................
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RESIDENTIAL FUNDING CORPORATION (MASTER SERVICER)
RESIDENTIAL ASSET SECURITIES CORPORATION (COMPANY)
MORTGAGE PASS-THROUGH CERTIFICATES SERIES 1995-KS3 (POOL # 4181)
STATEMENT TO CERTIFICATEHOLDERS
DISTRIBUTION SUMMARY FOR POOL# 4181
_______________________________________________________________________________
PRINCIPAL CURRENT
ORIGINAL BALANCE BEFORE PASS-THROUGH PRINCIPAL
CLASS CUSIP FACE VALUE DISTRIBUTION RATE DISTRIBUTION
_______________________________________________________________________________
A1-I 76110WAD8 36,305,000.00 14,078,103.78 8.000000 % 2,771,564.36
A2-I 76110WAE6 26,280,000.00 26,280,000.00 8.000000 % 0.00
A3-I 76110WAF3 19,819,000.00 19,819,000.00 8.000000 % 0.00
A4-I 76110WAG1 16,482,000.00 16,482,000.00 8.000000 % 0.00
A5-I 76110WAH9 11,122,743.00 11,122,743.00 8.000000 % 0.00
A-II 76110WAJ5 41,561,444.00 28,169,825.33 8.000000 % 419,242.88
R 76110WAK2 100.00 0.00 8.000000 % 0.00
B1-I 1,946,488.25 1,902,356.28 8.120000 % 3,305.49
B2-I 760,800.00 743,550.67 8.120000 % 1,291.98
B3-I 988,100.00 122,127.85 8.120000 % 0.00
B1-I 1,125,622.41 1,108,756.16 8.120000 % 934.50
B2-I 259,759.02 255,866.81 8.120000 % 215.65
B3-I 346,345.37 84,579.46 8.120000 % 71.28
SPRE 0.00 0.00 1.979385 % 0.00
- -------------------------------------------------------------------------------
156,997,402.05 120,168,909.34 3,196,626.14
===============================================================================
_______________________________________________________________________________
REMAINING
INTEREST TOTAL DEFERRED REALIZED PRINCIPAL
DISTRIBUTION DISTRIBUTION INTEREST LOSSES BALANCE
_______________________________________________________________________________
A1-I 93,843.76 2,865,408.12 0.00 0.00 11,306,539.42
A2-I 175,180.82 175,180.82 0.00 0.00 26,280,000.00
A3-I 132,112.21 132,112.21 0.00 0.00 19,819,000.00
A4-I 109,867.97 109,867.97 0.00 0.00 16,482,000.00
A5-I 74,143.50 74,143.50 0.00 0.00 11,122,743.00
A-II 186,966.64 606,209.52 0.00 0.00 27,750,582.45
R 0.00 0.00 0.00 0.00 0.00
B1-I 12,871.20 16,176.69 0.00 0.00 1,899,050.79
B2-I 5,030.81 6,322.79 0.00 0.00 543,492.75
B3-I 826.31 826.31 0.00 0.00 0.00
B1-II 7,469.33 8,403.83 0.00 0.00 1,107,821.66
B2-II 1,723.70 1,939.35 0.00 0.00 255,651.16
B3-II 569.78 641.06 0.00 0.00 84,508.18
SPRED 197,983.59 197,983.59 0.00 0.00 0.00
- -------------------------------------------------------------------------------
998,589.62 4,195,215.76 0.00 0.00 116,651,389.41
===============================================================================
_______________________________________________________________________________
AMOUNTS PER $1,000 UNIT
_______________________________________________________________________________
BEGINNING ENDING
BALANCE PRINCIPAL INTEREST TOTAL DEFERRED BALANCE
CLASS FACTOR FACTOR FACTOR DISTRIBUTION INTEREST FACTOR
_______________________________________________________________________________
A1-I 387.773138 76.341120 2.584872 78.925992 0.000000 311.432018
A2-I 1000.000000 0.000000 6.665937 6.665937 0.000000 1000.000000
A3-I 1000.000000 0.000000 6.665937 6.665937 0.000000 1000.000000
A4-I 1000.000000 0.000000 6.665937 6.665937 0.000000 1000.000000
A5-I 1000.000000 0.000000 6.665937 6.665937 0.000000 1000.000000
A-II 677.787454 10.087303 4.498560 14.585863 0.000000 667.700152
R 0.000000 0.000000 0.000000 0.000000 0.000000 0.000000
B1-I 977.327389 1.698181 6.612524 8.310705 0.000000 975.629208
B2-I 977.327379 1.698186 6.612526 8.310712 0.000000 714.370068
B3-I 123.598674 0.000000 0.836262 0.836262 0.000000 0.000000
B1-I 985.016068 0.830207 6.635733 7.465940 0.000000 984.185860
B2-I 985.016074 0.830193 6.635766 7.465959 0.000000 984.185881
B3-I 244.205545 0.205806 1.645121 1.850927 0.000000 243.999725
_______________________________________________________________________________
DETERMINATION DATE 20-December-96
DISTRIBUTION DATE 26-December-96
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RESIDENTIAL FUNDING CORPORATION (MASTER SERVICER)
RESIDENTIAL ASSET SECURITIES CORPORATION (COMPANY)
MORTGAGE PASS-THROUGH CERTIFICATES 1995-KS3 (POOL # 4181)
STATEMENT TO CERTIFICATEHOLDERS
ADDITIONAL RELATED INFORMATION FOR POOL 4181
_______________________________________________________________________________
SERVICING COMPENSATION RECEIVED BY SUB-SERVICER 39,163.62
SERVICING COMPENSATION RECEIVED BY MASTER SERVICER 0.00
SUBSERVICER ADVANCES THIS MONTH 200,397.05
MASTER SERVICER ADVANCES THIS MONTH 18,141.06
NUMBER OF PRINCIPAL
DELINQUENCIES: LOANS BALANCE
(A) ONE MONTHLY PAYMENT: 36 7,744,797.61
(B) TWO MONTHLY PAYMENTS: 11 2,399,668.31
(C) THREE OR MORE MONTHLY PAYMENTS: 6 1,833,615.58
FORECLOSURES
NUMBER OF LOANS 27
AGGREGATE PRINCIPAL BALANCE 8,194,624.61
SCHEDULED PRINCIPAL BALANCE OF MORTGAGE LOANS AFTER
DISTRIBUTION 116,651,389.41
AGGREGATE NUMBER OF LOANS IN THE POOL AS OF THE
DETERMINATION DATE 472
NUMBER OF REO LOANS ACQUIRED
INCLUDING ANY PENDING CASH LIQUIDATIONS 8
BOOK VALUE OF REAL ESTATE ACQUIRED THROUGH
FORECLOSURE OR GRANT OF A DEED IN LIEU OF
FORECLOSURE, INCLUDING ANY PENDING CASH LIQUIDATIONS 1,858,778.46
REMAINING SUBCLASS INTEREST SHORTFALL 0.00
CLASS A SHORTFALL (PRINCIPAL) 0.00
CLASS A SHORTFALL (INTEREST) 0.00
TOTAL PREPAYMENTS INCLUDED IN THIS DISTRIBUTION 2,341,902.73
TOTAL REPURCHASES INCLUDED IN THIS DISTRIBUTION 0.00
DISTRIBUTION PERCENTAGES:
SENIOR SUBORDINATE
PERCENTAGE FOR CURRENT DISTRIBUTION 96.49057540 % 3.50942460 %
CURRENT PREPAYMENT PERCENTAGE 100.00000000 % 0.00000000 %
PERCENTAGE FOR NEXT DISTRIBUTION 96.66482800 % 3.33517200 %
BANKRUPTCY AMOUNT AVAILABLE 100,000.00
FRAUD AMOUNT AVAILABLE 624,549.00
SPECIAL HAZARD AMOUNT AVAILABLE 2,298,881.00
ENDING GROSS WEIGHTED AVERAGE INTEREST RATE 10.55645900
ENDING WEIGHTED AVERAGE MATURITY, IN MONTHS 260.96
POOL TRADING FACTOR: 74.30147753
................................................................................
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RESIDENTIAL FUNDING CORPORATION (MASTER SERVICER)
RESIDENTIAL ASSET SECURITIES CORPORATION (COMPANY)
MORTGAGE PASS-THROUGH CERTIFICATES SERIES 1995-KS4 (POOL # 4190)
STATEMENT TO CERTIFICATEHOLDERS
DISTRIBUTION SUMMARY FOR POOL# 4190
_______________________________________________________________________________
PRINCIPAL CURRENT
ORIGINAL BALANCE BEFORE PASS-THROUGH PRINCIPAL
CLASS CUSIP FACE VALUE DISTRIBUTION RATE DISTRIBUTION
_______________________________________________________________________________
A 76110WAL0 98,996,689.00 76,120,316.68 5.937500 % 2,439,164.41
R 4,664,765.74 6,219,687.28 0.000000 % 0.00
- -------------------------------------------------------------------------------
103,661,454.74 82,340,003.96 2,439,164.41
===============================================================================
_______________________________________________________________________________
REMAINING
INTEREST TOTAL DEFERRED REALIZED PRINCIPAL
DISTRIBUTION DISTRIBUTION INTEREST LOSSES BALANCE
_______________________________________________________________________________
A 387,788.10 2,826,952.51 0.00 0.00 73,681,152.27
R 261,272.72 261,272.72 0.00 0.00 6,219,687.28
- -------------------------------------------------------------------------------
649,060.82 3,088,225.23 0.00 0.00 79,900,839.55
===============================================================================
_______________________________________________________________________________
AMOUNTS PER $1,000 UNIT
_______________________________________________________________________________
BEGINNING ENDING
BALANCE PRINCIPAL INTEREST TOTAL DEFERRED BALANCE
CLASS FACTOR FACTOR FACTOR DISTRIBUTION INTEREST FACTOR
_______________________________________________________________________________
A 768.917804 24.638848 3.917183 28.556031 0.000000 744.278955
R 1333.333253 0.000000 56.009827 56.009827 0.000000 1333.333253
_______________________________________________________________________________
DETERMINATION DATE 20-December-96
DISTRIBUTION DATE 26-December-96
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RESIDENTIAL FUNDING CORPORATION (MASTER SERVICER)
RESIDENTIAL ASSET SECURITIES CORPORATION (COMPANY)
MORTGAGE PASS-THROUGH CERTIFICATES 1995-KS4 (POOL # 4190)
STATEMENT TO CERTIFICATEHOLDERS
ADDITIONAL RELATED INFORMATION FOR POOL 4190
_______________________________________________________________________________
SERVICING COMPENSATION RECEIVED BY SUB-SERVICER 30,520.03
SERVICING COMPENSATION RECEIVED BY MASTER SERVICER 0.00
SUBSERVICER ADVANCES THIS MONTH 78,884.03
MASTER SERVICER ADVANCES THIS MONTH 12,041.92
NUMBER OF PRINCIPAL
DELINQUENCIES: LOANS BALANCE
(A) ONE MONTHLY PAYMENT: 54 5,547,970.85
(B) TWO MONTHLY PAYMENTS: 7 1,074,716.78
(C) THREE OR MORE MONTHLY PAYMENTS: 6 426,187.74
FORECLOSURES
NUMBER OF LOANS 15
AGGREGATE PRINCIPAL BALANCE 1,997,421.67
SCHEDULED PRINCIPAL BALANCE OF MORTGAGE LOANS AFTER
DISTRIBUTION 79,900,839.55
AGGREGATE NUMBER OF LOANS IN THE POOL AS OF THE
DETERMINATION DATE 773
NUMBER OF REO LOANS ACQUIRED
INCLUDING ANY PENDING CASH LIQUIDATIONS 8
BOOK VALUE OF REAL ESTATE ACQUIRED THROUGH
FORECLOSURE OR GRANT OF A DEED IN LIEU OF
FORECLOSURE, INCLUDING ANY PENDING CASH LIQUIDATIONS 1,357,823.62
REMAINING SUBCLASS INTEREST SHORTFALL 0.00
CLASS A SHORTFALL (PRINCIPAL) 0.00
CLASS A SHORTFALL (INTEREST) 0.00
TOTAL PREPAYMENTS INCLUDED IN THIS DISTRIBUTION 2,274,883.37
TOTAL REPURCHASES INCLUDED IN THIS DISTRIBUTION 0.00
DISTRIBUTION PERCENTAGES:
SENIOR SUBORDINATE
PERCENTAGE FOR CURRENT DISTRIBUTION 92.44633600 % 7.55366410 %
CURRENT PREPAYMENT PERCENTAGE 100.00000000 % 0.00000000 %
PERCENTAGE FOR NEXT DISTRIBUTION 92.21574230 % 7.78425770 %
BANKRUPTCY AMOUNT AVAILABLE 100,000.00
FRAUD AMOUNT AVAILABLE 3,109,844.00
SPECIAL HAZARD AMOUNT AVAILABLE 1,697,474.00
ENDING GROSS WEIGHTED AVERAGE INTEREST RATE 10.58029376
ENDING WEIGHTED AVERAGE MATURITY, IN MONTHS 330.05
POOL TRADING FACTOR: 77.07864003
................................................................................
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RESIDENTIAL FUNDING CORPORATION (MASTER SERVICER)
RESIDENTIAL ASSET SECURITIES CORPORATION (COMPANY)
MORTGAGE PASS-THROUGH CERTIFICATES SERIES 1996-KS1 (POOL # 4202)
STATEMENT TO CERTIFICATEHOLDERS
DISTRIBUTION SUMMARY FOR POOL# 4202
_______________________________________________________________________________
PRINCIPAL CURRENT
ORIGINAL BALANCE BEFORE PASS-THROUGH PRINCIPAL
CLASS CUSIP FACE VALUE DISTRIBUTION RATE DISTRIBUTION
_______________________________________________________________________________
A 76110WAM8 77,178,720.00 62,340,575.94 5.837500 % 2,745,876.90
R 0.00 1,605,405.96 0.000000 % 0.00
- -------------------------------------------------------------------------------
77,178,720.00 63,945,981.90 2,745,876.90
===============================================================================
_______________________________________________________________________________
REMAINING
INTEREST TOTAL DEFERRED REALIZED PRINCIPAL
DISTRIBUTION DISTRIBUTION INTEREST LOSSES BALANCE
_______________________________________________________________________________
A 309,474.54 3,055,351.44 0.00 0.00 59,594,699.04
R 0.00 0.00 196,583.99 0.00 1,801,989.95
- -------------------------------------------------------------------------------
309,474.54 3,055,351.44 196,583.99 0.00 61,396,688.99
===============================================================================
_______________________________________________________________________________
AMOUNTS PER $1,000 UNIT
_______________________________________________________________________________
BEGINNING ENDING
BALANCE PRINCIPAL INTEREST TOTAL DEFERRED BALANCE
CLASS FACTOR FACTOR FACTOR DISTRIBUTION INTEREST FACTOR
_______________________________________________________________________________
A 807.743066 35.578161 4.009843 39.588004 0.000000 772.164906
_______________________________________________________________________________
DETERMINATION DATE 20-December-96
DISTRIBUTION DATE 26-December-96
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RESIDENTIAL FUNDING CORPORATION (MASTER SERVICER)
RESIDENTIAL ASSET SECURITIES CORPORATION (COMPANY)
MORTGAGE PASS-THROUGH CERTIFICATES 1996-KS1 (POOL # 4202)
STATEMENT TO CERTIFICATEHOLDERS
ADDITIONAL RELATED INFORMATION FOR POOL 4202
_______________________________________________________________________________
SERVICING COMPENSATION RECEIVED BY SUB-SERVICER 25,651.87
SERVICING COMPENSATION RECEIVED BY MASTER SERVICER 0.00
SUBSERVICER ADVANCES THIS MONTH 99,275.14
MASTER SERVICER ADVANCES THIS MONTH 768.37
NUMBER OF PRINCIPAL
DELINQUENCIES: LOANS BALANCE
(A) ONE MONTHLY PAYMENT: 56 8,178,209.79
(B) TWO MONTHLY PAYMENTS: 8 991,690.34
(C) THREE OR MORE MONTHLY PAYMENTS: 7 734,009.56
FORECLOSURES
NUMBER OF LOANS 14
AGGREGATE PRINCIPAL BALANCE 1,597,637.99
SCHEDULED PRINCIPAL BALANCE OF MORTGAGE LOANS AFTER
DISTRIBUTION 61,396,688.99
AGGREGATE NUMBER OF LOANS IN THE POOL AS OF THE
DETERMINATION DATE 477
NUMBER OF REO LOANS ACQUIRED
INCLUDING ANY PENDING CASH LIQUIDATIONS 1
BOOK VALUE OF REAL ESTATE ACQUIRED THROUGH
FORECLOSURE OR GRANT OF A DEED IN LIEU OF
FORECLOSURE, INCLUDING ANY PENDING CASH LIQUIDATIONS 87,388.37
REMAINING SUBCLASS INTEREST SHORTFALL 0.00
CLASS A SHORTFALL (PRINCIPAL) 0.00
CLASS A SHORTFALL (INTEREST) 0.00
TOTAL PREPAYMENTS INCLUDED IN THIS DISTRIBUTION 2,519,281.01
TOTAL REPURCHASES INCLUDED IN THIS DISTRIBUTION 0.00
DISTRIBUTION PERCENTAGES:
SENIOR SUBORDINATE
PERCENTAGE FOR CURRENT DISTRIBUTION 97.48943420 % 2.51056580 %
CURRENT PREPAYMENT PERCENTAGE 100.00000000 % 0.00000000 %
PERCENTAGE FOR NEXT DISTRIBUTION 97.06500470 % 2.93499530 %
BANKRUPTCY AMOUNT AVAILABLE 100,000.00
FRAUD AMOUNT AVAILABLE 2,315,362.00
SPECIAL HAZARD AMOUNT AVAILABLE 1,398,653.00
ENDING GROSS WEIGHTED AVERAGE INTEREST RATE 10.49480139
ENDING WEIGHTED AVERAGE MATURITY, IN MONTHS 346.08
POOL TRADING FACTOR: 79.55131802
................................................................................
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RESIDENTIAL FUNDING CORPORATION (MASTER SERVICER)
RESIDENTIAL ASSET SECURITIES CORPORATION (COMPANY)
MORTGAGE PASS-THROUGH CERTIFICATES SERIES 1996-KS2 (POOL # 4209)
STATEMENT TO CERTIFICATEHOLDERS
DISTRIBUTION SUMMARY FOR POOL# 4209
_______________________________________________________________________________
PRINCIPAL CURRENT
ORIGINAL BALANCE BEFORE PASS-THROUGH PRINCIPAL
CLASS CUSIP FACE VALUE DISTRIBUTION RATE DISTRIBUTION
_______________________________________________________________________________
A-1 76110WAN6 41,000,000.00 34,396,011.46 6.770000 % 1,732,508.44
A-2 76110WAP1 28,000,000.00 28,000,000.00 7.040000 % 0.00
A-3 76110WAQ9 12,000,000.00 12,000,000.00 7.410000 % 0.00
A-4 76110WAR7 14,086,733.00 14,086,733.00 7.980000 % 0.00
A-5 76110WAU0 352,608.35 343,300.18 0.000000 % 591.28
R-I 76110WAS5 100.00 0.00 7.980000 % 0.00
R-II 76110WAT3 100.00 0.00 7.980000 % 0.00
B-1 3,214,806.00 3,201,725.11 7.980000 % 2,258.28
B-2 904,165.00 900,486.00 7.980000 % 635.14
B-3 904,163.45 900,484.44 7.980000 % 635.14
SPRE 0.00 0.00 2.105284 % 0.00
- -------------------------------------------------------------------------------
100,462,675.80 93,828,740.19 1,736,628.28
===============================================================================
_______________________________________________________________________________
REMAINING
INTEREST TOTAL DEFERRED REALIZED PRINCIPAL
DISTRIBUTION DISTRIBUTION INTEREST LOSSES BALANCE
_______________________________________________________________________________
A-1 193,989.58 1,926,498.02 0.00 0.00 32,663,503.02
A-2 164,214.82 164,214.82 0.00 0.00 28,000,000.00
A-3 74,076.61 74,076.61 0.00 0.00 12,000,000.00
A-4 93,647.20 93,647.20 0.00 0.00 14,086,733.00
A-5 0.00 591.28 0.00 0.00 342,708.90
R-I 0.00 0.00 0.00 0.00 0.00
R-II 0.00 0.00 0.00 0.00 0.00
B-1 21,284.75 23,543.03 0.00 0.00 3,199,466.83
B-2 5,986.34 6,621.48 0.00 0.00 899,850.86
B-3 5,986.33 6,621.47 0.00 0.00 899,849.30
SPRED 164,561.48 164,561.48 0.00 0.00 0.00
- -------------------------------------------------------------------------------
723,747.11 2,460,375.39 0.00 0.00 92,092,111.91
===============================================================================
_______________________________________________________________________________
AMOUNTS PER $1,000 UNIT
_______________________________________________________________________________
BEGINNING ENDING
BALANCE PRINCIPAL INTEREST TOTAL DEFERRED BALANCE
CLASS FACTOR FACTOR FACTOR DISTRIBUTION INTEREST FACTOR
_______________________________________________________________________________
A-1 838.927109 42.256303 4.731453 46.987756 0.000000 796.670805
A-2 1000.000000 0.000000 5.864815 5.864815 0.000000 1000.000000
A-3 1000.000000 0.000000 6.173051 6.173051 0.000000 1000.000000
A-4 1000.000000 0.000000 6.647901 6.647901 0.000000 1000.000000
A-5 973.601958 1.676875 0.000000 1.676875 0.000000 971.925084
R-I 0.000000 0.000000 0.000000 0.000000 0.000000 0.000000
R-II 0.000000 0.000000 0.000000 0.000000 0.000000 0.000000
B-1 995.931048 0.702462 6.620851 7.323313 0.000000 995.228586
B-2 995.931052 0.702460 6.620849 7.323309 0.000000 995.228592
B-3 995.931034 0.702461 6.620849 7.323310 0.000000 995.228573
_______________________________________________________________________________
DETERMINATION DATE 20-December-96
DISTRIBUTION DATE 26-December-96
Run: 12/27/96 13:02:55 rept2.frg
Page: 2 of 2
RESIDENTIAL FUNDING CORPORATION (MASTER SERVICER)
RESIDENTIAL ASSET SECURITIES CORPORATION (COMPANY)
MORTGAGE PASS-THROUGH CERTIFICATES 1996-KS2 (POOL # 4209)
STATEMENT TO CERTIFICATEHOLDERS
ADDITIONAL RELATED INFORMATION FOR POOL 4209
_______________________________________________________________________________
SERVICING COMPENSATION RECEIVED BY SUB-SERVICER 37,152.12
SERVICING COMPENSATION RECEIVED BY MASTER SERVICER 0.00
SUBSERVICER ADVANCES THIS MONTH 66,468.47
MASTER SERVICER ADVANCES THIS MONTH 0.00
NUMBER OF PRINCIPAL
DELINQUENCIES: LOANS BALANCE
(A) ONE MONTHLY PAYMENT: 59 5,681,881.67
(B) TWO MONTHLY PAYMENTS: 6 925,239.03
(C) THREE OR MORE MONTHLY PAYMENTS: 1 182,362.73
FORECLOSURES
NUMBER OF LOANS 14
AGGREGATE PRINCIPAL BALANCE 1,023,788.19
SCHEDULED PRINCIPAL BALANCE OF MORTGAGE LOANS AFTER
DISTRIBUTION 92,092,111.91
AGGREGATE NUMBER OF LOANS IN THE POOL AS OF THE
DETERMINATION DATE 899
NUMBER OF REO LOANS ACQUIRED
INCLUDING ANY PENDING CASH LIQUIDATIONS 0
BOOK VALUE OF REAL ESTATE ACQUIRED THROUGH
FORECLOSURE OR GRANT OF A DEED IN LIEU OF
FORECLOSURE, INCLUDING ANY PENDING CASH LIQUIDATIONS 0.00
REMAINING SUBCLASS INTEREST SHORTFALL 0.00
CLASS A SHORTFALL (PRINCIPAL) 0.00
CLASS A SHORTFALL (INTEREST) 0.00
TOTAL PREPAYMENTS INCLUDED IN THIS DISTRIBUTION 1,670,114.43
TOTAL REPURCHASES INCLUDED IN THIS DISTRIBUTION 0.00
DISTRIBUTION PERCENTAGES:
SENIOR SUBORDINATE
PERCENTAGE FOR CURRENT DISTRIBUTION 94.64869020 % 5.35130980 %
CURRENT PREPAYMENT PERCENTAGE 100.00000000 % 0.00000000 %
PERCENTAGE FOR NEXT DISTRIBUTION 94.55128120 % 5.44871880 %
BANKRUPTCY AMOUNT AVAILABLE 100,000.00
FRAUD AMOUNT AVAILABLE 3,013,880.00
SPECIAL HAZARD AMOUNT AVAILABLE 1,298,610.00
ENDING GROSS WEIGHTED AVERAGE INTEREST RATE 9.92204508
ENDING WEIGHTED AVERAGE MATURITY, IN MONTHS 331.33
POOL TRADING FACTOR: 91.66798632
................................................................................
Run: 12/27/96 13:02:56 REPT1B.FRG
Page: 1 of 2
RESIDENTIAL FUNDING CORPORATION (MASTER SERVICER)
RESIDENTIAL ASSET SECURITIES CORPORATION (COMPANY)
MORTGAGE PASS-THROUGH CERTIFICATES SERIES 1996-KS3 (POOL # 4210)
STATEMENT TO CERTIFICATEHOLDERS
DISTRIBUTION SUMMARY FOR POOL# 4210
_______________________________________________________________________________
PRINCIPAL CURRENT
ORIGINAL BALANCE BEFORE PASS-THROUGH PRINCIPAL
CLASS CUSIP FACE VALUE DISTRIBUTION RATE DISTRIBUTION
_______________________________________________________________________________
A 76110WAV8 143,731,008.00 131,015,588.95 5.787500 % 3,456,975.32
R 0.00 1,754,825.19 0.000000 % 0.00
- -------------------------------------------------------------------------------
143,731,008.00 132,770,414.14 3,456,975.32
===============================================================================
_______________________________________________________________________________
REMAINING
INTEREST TOTAL DEFERRED REALIZED PRINCIPAL
DISTRIBUTION DISTRIBUTION INTEREST LOSSES BALANCE
_______________________________________________________________________________
A 652,868.00 4,109,843.32 0.00 0.00 127,558,613.63
R 0.00 0.00 360,297.86 0.00 2,115,123.05
- -------------------------------------------------------------------------------
652,868.00 4,109,843.32 360,297.86 0.00 129,673,736.68
===============================================================================
_______________________________________________________________________________
AMOUNTS PER $1,000 UNIT
_______________________________________________________________________________
BEGINNING ENDING
BALANCE PRINCIPAL INTEREST TOTAL DEFERRED BALANCE
CLASS FACTOR FACTOR FACTOR DISTRIBUTION INTEREST FACTOR
_______________________________________________________________________________
A 911.533223 24.051702 4.542291 28.593993 0.000000 887.481521
_______________________________________________________________________________
DETERMINATION DATE 20-December-96
DISTRIBUTION DATE 26-December-96
Run: 12/27/96 13:02:56 rept2.frg
Page: 2 of 2
RESIDENTIAL FUNDING CORPORATION (MASTER SERVICER)
RESIDENTIAL ASSET SECURITIES CORPORATION (COMPANY)
MORTGAGE PASS-THROUGH CERTIFICATES 1996-KS3 (POOL # 4210)
STATEMENT TO CERTIFICATEHOLDERS
ADDITIONAL RELATED INFORMATION FOR POOL 4210
_______________________________________________________________________________
SERVICING COMPENSATION RECEIVED BY SUB-SERVICER 54,734.50
SERVICING COMPENSATION RECEIVED BY MASTER SERVICER 0.00
SUBSERVICER ADVANCES THIS MONTH 94,309.87
MASTER SERVICER ADVANCES THIS MONTH 0.00
NUMBER OF PRINCIPAL
DELINQUENCIES: LOANS BALANCE
(A) ONE MONTHLY PAYMENT: 76 8,598,091.41
(B) TWO MONTHLY PAYMENTS: 8 817,402.74
(C) THREE OR MORE MONTHLY PAYMENTS: 5 360,867.96
FORECLOSURES
NUMBER OF LOANS 10
AGGREGATE PRINCIPAL BALANCE 1,542,483.65
SCHEDULED PRINCIPAL BALANCE OF MORTGAGE LOANS AFTER
DISTRIBUTION 129,673,736.68
AGGREGATE NUMBER OF LOANS IN THE POOL AS OF THE
DETERMINATION DATE 997
NUMBER OF REO LOANS ACQUIRED
INCLUDING ANY PENDING CASH LIQUIDATIONS 0
BOOK VALUE OF REAL ESTATE ACQUIRED THROUGH
FORECLOSURE OR GRANT OF A DEED IN LIEU OF
FORECLOSURE, INCLUDING ANY PENDING CASH LIQUIDATIONS 0.00
REMAINING SUBCLASS INTEREST SHORTFALL 0.00
CLASS A SHORTFALL (PRINCIPAL) 0.00
CLASS A SHORTFALL (INTEREST) 0.00
TOTAL PREPAYMENTS INCLUDED IN THIS DISTRIBUTION 3,031,891.28
TOTAL REPURCHASES INCLUDED IN THIS DISTRIBUTION 0.00
DISTRIBUTION PERCENTAGES:
SENIOR SUBORDINATE
PERCENTAGE FOR CURRENT DISTRIBUTION 98.67830100 % 1.32169900 %
CURRENT PREPAYMENT PERCENTAGE 100.00000000 % 0.00000000 %
PERCENTAGE FOR NEXT DISTRIBUTION 98.36888860 % 1.63111140 %
BANKRUPTCY AMOUNT AVAILABLE 100,000.00
FRAUD AMOUNT AVAILABLE 4,311,930.00
SPECIAL HAZARD AMOUNT AVAILABLE 1,437,310.00
ENDING GROSS WEIGHTED AVERAGE INTEREST RATE 9.96048481
ENDING WEIGHTED AVERAGE MATURITY, IN MONTHS 350.70
POOL TRADING FACTOR: 90.21973650
................................................................................
Run: 12/27/96 13:03:42 REPT1B.FRG
Page: 1 of 2
RESIDENTIAL FUNDING CORPORATION (MASTER SERVICER)
RESIDENTIAL ASSET SECURITIES CORPORATION (COMPANY)
MORTGAGE ASSET-BACKED PASS-THROUGH CERTIFICATES SERIES 1996-KS4 (POOL # 4223)
STATEMENT TO CERTIFICATEHOLDERS
DISTRIBUTION SUMMARY FOR POOL# 4223
_______________________________________________________________________________
PRINCIPAL CURRENT
ORIGINAL BALANCE BEFORE PASS-THROUGH PRINCIPAL
CLASS CUSIP FACE VALUE DISTRIBUTION RATE DISTRIBUTION
_______________________________________________________________________________
A-I- 76110WAW6 33,524,000.00 32,020,209.36 5.500000 % 1,676,758.08
A-I- 76110WAX4 35,203,000.00 35,203,000.00 7.300000 % 0.00
A-I- 76110WAY2 7,449,000.00 7,449,000.00 7.625000 % 0.00
A-I- 76110WAZ9 11,675,000.00 11,675,000.00 7.900000 % 0.00
A-I- 76110WBA3 7,071,000.00 7,071,000.00 8.050000 % 0.00
A-II 76110WBB1 223,019,000.00 215,666,368.78 5.675000 % 3,532,197.51
R 1,035.81 1,760,343.71 0.000000 % 0.00
- -------------------------------------------------------------------------------
317,942,035.81 310,844,921.85 5,208,955.59
===============================================================================
_______________________________________________________________________________
REMAINING
INTEREST TOTAL DEFERRED REALIZED PRINCIPAL
DISTRIBUTION DISTRIBUTION INTEREST LOSSES BALANCE
_______________________________________________________________________________
A-I-1 146,753.78 1,823,511.86 0.00 0.00 30,343,451.28
A-I-2 214,143.53 214,143.53 0.00 0.00 35,203,000.00
A-I-3 47,330.41 47,330.41 0.00 0.00 7,449,000.00
A-I-4 76,857.53 76,857.53 0.00 0.00 11,675,000.00
A-I-5 47,432.85 47,432.85 0.00 0.00 7,071,000.00
A-II 1,019,753.06 4,551,950.57 0.00 0.00 212,134,171.27
R 0.00 0.00 858,700.66 0.00 2,619,044.37
- -------------------------------------------------------------------------------
1,552,271.16 6,761,226.75 858,700.66 0.00 306,494,666.92
===============================================================================
_______________________________________________________________________________
AMOUNTS PER $1,000 UNIT
_______________________________________________________________________________
BEGINNING ENDING
BALANCE PRINCIPAL INTEREST TOTAL DEFERRED BALANCE
CLASS FACTOR FACTOR FACTOR DISTRIBUTION INTEREST FACTOR
_______________________________________________________________________________
A-I- 955.142864 50.016647 4.377574 54.394221 0.000000 905.126216
A-I- 1000.000000 0.000000 6.083105 6.083105 0.000000 1000.000000
A-I- 1000.000000 0.000000 6.353928 6.353928 0.000000 1000.000000
A-I- 1000.000000 0.000000 6.583086 6.583086 0.000000 1000.000000
A-I- 1000.000000 0.000000 6.708082 6.708082 0.000000 1000.000000
A-II 967.031369 15.838101 4.572494 20.410595 0.000000 951.193267
_______________________________________________________________________________
DETERMINATION DATE 20-December-96
DISTRIBUTION DATE 26-December-96
Run: 12/27/96 13:03:42 rept2.frg
Page: 2 of 2
RESIDENTIAL FUNDING CORPORATION (MASTER SERVICER)
RESIDENTIAL ASSET SECURITIES CORPORATION (COMPANY)
MORTGAGE ASSET-BACKED PASS-THROUGH CERTIFICATES 1996-KS4 (POOL # 4223)
STATEMENT TO CERTIFICATEHOLDERS
ADDITIONAL RELATED INFORMATION FOR POOL 4223
_______________________________________________________________________________
SERVICING COMPENSATION RECEIVED BY SUB-SERVICER 128,609.20
SERVICING COMPENSATION RECEIVED BY MASTER SERVICER 5,859.81
SUBSERVICER ADVANCES THIS MONTH 169,827.24
MASTER SERVICER ADVANCES THIS MONTH 0.00
NUMBER OF PRINCIPAL
DELINQUENCIES: LOANS BALANCE
(A) ONE MONTHLY PAYMENT: 153 16,355,334.67
(B) TWO MONTHLY PAYMENTS: 19 2,225,020.70
(C) THREE OR MORE MONTHLY PAYMENTS: 7 618,967.35
FORECLOSURES
NUMBER OF LOANS 10
AGGREGATE PRINCIPAL BALANCE 1,259,613.80
SCHEDULED PRINCIPAL BALANCE OF MORTGAGE LOANS AFTER
DISTRIBUTION 306,494,666.92
AGGREGATE NUMBER OF LOANS IN THE POOL AS OF THE
DETERMINATION DATE 2,580
NUMBER OF REO LOANS ACQUIRED
INCLUDING ANY PENDING CASH LIQUIDATIONS 0
BOOK VALUE OF REAL ESTATE ACQUIRED THROUGH
FORECLOSURE OR GRANT OF A DEED IN LIEU OF
FORECLOSURE, INCLUDING ANY PENDING CASH LIQUIDATIONS 0.00
REMAINING SUBCLASS INTEREST SHORTFALL 0.00
CLASS A SHORTFALL (PRINCIPAL) 0.00
CLASS A SHORTFALL (INTEREST) 0.00
TOTAL PREPAYMENTS INCLUDED IN THIS DISTRIBUTION 4,188,028.92
TOTAL REPURCHASES INCLUDED IN THIS DISTRIBUTION 0.00
DISTRIBUTION PERCENTAGES:
SENIOR SUBORDINATE
PERCENTAGE FOR CURRENT DISTRIBUTION 99.43369070 % 0.56630930 %
CURRENT PREPAYMENT PERCENTAGE 100.00000000 % 0.00000000 %
PERCENTAGE FOR NEXT DISTRIBUTION 99.14548450 % 0.85451550 %
BANKRUPTCY AMOUNT AVAILABLE 125,000.00
FRAUD AMOUNT AVAILABLE 3,518,891.00
SPECIAL HAZARD AMOUNT AVAILABLE 1,900,000.00
ENDING GROSS WEIGHTED AVERAGE INTEREST RATE 10.09742200
ENDING WEIGHTED AVERAGE MATURITY, IN MONTHS 348.34
POOL TRADING FACTOR: 96.39954218
................................................................................
