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)
May 25, 1997
RESIDENTIAL ASSET SECURITIES CORP
(Exact name of the registrant as specified in its charter)
33-56893
(Commission File Number)
Delaware 51-0362653
(State or other (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
See the respective monthly reports, each reflecting the required information for
the May 1997 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
1996-KS5 RASC
1997-KS1 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: May 25, 1997
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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 37,058,392.26 6.400000 % 1,159,738.64
R 0.00 1,999,509.87 0.000000 % 0.00
- -------------------------------------------------------------------------------
94,350,062.00 39,057,902.13 1,159,738.64
===============================================================================
_______________________________________________________________________________
REMAINING
INTEREST TOTAL DEFERRED REALIZED PRINCIPAL
DISTRIBUTION DISTRIBUTION INTEREST LOSSES BALANCE
_______________________________________________________________________________
A 210,564.61 1,370,303.25 0.00 0.00 35,898,653.62
R 0.00 0.00 122,443.21 0.00 2,121,953.08
- -------------------------------------------------------------------------------
210,564.61 1,370,303.25 122,443.21 0.00 38,020,606.70
===============================================================================
_______________________________________________________________________________
AMOUNTS PER $1,000 UNIT
_______________________________________________________________________________
BEGINNING ENDING
BALANCE PRINCIPAL INTEREST TOTAL DEFERRED BALANCE
CLASS FACTOR FACTOR FACTOR DISTRIBUTION INTEREST FACTOR
_______________________________________________________________________________
A 392.775495 12.291869 2.231738 14.523607 0.000000 380.483625
_______________________________________________________________________________
DETERMINATION DATE 20-May-97
DISTRIBUTION DATE 27-May-97
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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 14,912.97
SERVICING COMPENSATION RECEIVED BY MASTER SERVICER 0.00
SUBSERVICER ADVANCES THIS MONTH 70,250.20
MASTER SERVICER ADVANCES THIS MONTH 6,328.75
NUMBER OF PRINCIPAL
DELINQUENCIES: LOANS BALANCE
(A) ONE MONTHLY PAYMENT: 32 3,735,326.02
(B) TWO MONTHLY PAYMENTS: 4 698,430.05
(C) THREE OR MORE MONTHLY PAYMENTS: 1 75,910.19
FORECLOSURES
NUMBER OF LOANS 27
AGGREGATE PRINCIPAL BALANCE 3,122,503.23
SCHEDULED PRINCIPAL BALANCE OF MORTGAGE LOANS AFTER
DISTRIBUTION 38,020,606.70
AGGREGATE NUMBER OF LOANS IN THE POOL AS OF THE
DETERMINATION DATE 371
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 692,912.16
REMAINING SUBCLASS INTEREST SHORTFALL 0.00
CLASS A SHORTFALL (PRINCIPAL) 0.00
CLASS A SHORTFALL (INTEREST) 0.00
TOTAL PREPAYMENTS INCLUDED IN THIS DISTRIBUTION 1,017,886.80
TOTAL REPURCHASES INCLUDED IN THIS DISTRIBUTION 0.00
DISTRIBUTION PERCENTAGES:
SENIOR SUBORDINATE
PERCENTAGE FOR CURRENT DISTRIBUTION 94.88065220 % 5.11934780 %
CURRENT PREPAYMENT PERCENTAGE 100.00000000 % 0.00000000 %
PERCENTAGE FOR NEXT DISTRIBUTION 94.41893950 % 5.58106050 %
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 10.97309030
ENDING WEIGHTED AVERAGE MATURITY, IN MONTHS 331.52
POOL TRADING FACTOR: 40.29738391
................................................................................
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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 49,346,836.22 6.250000 % 2,165,782.45
R 0.00 3,058,384.08 0.000000 % 0.00
- -------------------------------------------------------------------------------
105,461,520.00 52,405,220.30 2,165,782.45
===============================================================================
_______________________________________________________________________________
REMAINING
INTEREST TOTAL DEFERRED REALIZED PRINCIPAL
DISTRIBUTION DISTRIBUTION INTEREST LOSSES BALANCE
_______________________________________________________________________________
A 271,666.52 2,437,448.97 0.00 0.00 47,181,053.77
R 140,152.59 140,152.59 0.00 0.00 3,058,384.08
- -------------------------------------------------------------------------------
411,819.11 2,577,601.56 0.00 0.00 50,239,437.85
===============================================================================
_______________________________________________________________________________
AMOUNTS PER $1,000 UNIT
_______________________________________________________________________________
BEGINNING ENDING
BALANCE PRINCIPAL INTEREST TOTAL DEFERRED BALANCE
CLASS FACTOR FACTOR FACTOR DISTRIBUTION INTEREST FACTOR
_______________________________________________________________________________
A 467.913190 20.536234 2.575978 23.112212 0.000000 447.376956
_______________________________________________________________________________
DETERMINATION DATE 20-May-97
DISTRIBUTION DATE 27-May-97
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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 20,238.34
SERVICING COMPENSATION RECEIVED BY MASTER SERVICER 0.00
SUBSERVICER ADVANCES THIS MONTH 80,660.38
MASTER SERVICER ADVANCES THIS MONTH 1,759.46
NUMBER OF PRINCIPAL
DELINQUENCIES: LOANS BALANCE
(A) ONE MONTHLY PAYMENT: 44 4,217,492.79
(B) TWO MONTHLY PAYMENTS: 10 1,730,242.79
(C) THREE OR MORE MONTHLY PAYMENTS: 0 0.00
FORECLOSURES
NUMBER OF LOANS 27
AGGREGATE PRINCIPAL BALANCE 3,419,465.85
SCHEDULED PRINCIPAL BALANCE OF MORTGAGE LOANS AFTER
DISTRIBUTION 50,239,437.86
AGGREGATE NUMBER OF LOANS IN THE POOL AS OF THE
DETERMINATION DATE 464
NUMBER OF REO LOANS ACQUIRED
INCLUDING ANY PENDING CASH LIQUIDATIONS 2
BOOK VALUE OF REAL ESTATE ACQUIRED THROUGH
FORECLOSURE OR GRANT OF A DEED IN LIEU OF
FORECLOSURE, INCLUDING ANY PENDING CASH LIQUIDATIONS 193,786.59
REMAINING SUBCLASS INTEREST SHORTFALL 0.00
CLASS A SHORTFALL (PRINCIPAL) 0.00
CLASS A SHORTFALL (INTEREST) 0.00
TOTAL PREPAYMENTS INCLUDED IN THIS DISTRIBUTION 1,886,317.54
TOTAL REPURCHASES INCLUDED IN THIS DISTRIBUTION 0.00
DISTRIBUTION PERCENTAGES:
SENIOR SUBORDINATE
PERCENTAGE FOR CURRENT DISTRIBUTION 94.16397060 % 5.83602940 %
CURRENT PREPAYMENT PERCENTAGE 100.00000000 % 0.00000000 %
PERCENTAGE FOR NEXT DISTRIBUTION 93.91238390 % 6.08761600 %
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 10.40878090
ENDING WEIGHTED AVERAGE MATURITY, IN MONTHS 335.20
POOL TRADING FACTOR: 47.63769540
................................................................................
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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 5,705,781.61 8.000000 % 2,216,467.58
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 24,214,411.91 8.000000 % 206,658.54
R 76110WAK2 100.00 0.00 8.000000 % 0.00
B1-I 1,946,488.25 1,885,434.53 8.120000 % 3,425.45
B2-I 760,800.00 41,912.13 8.120000 % 76.14
B3-I 988,100.00 0.00 8.120000 % 0.00
B1-I 1,125,622.41 1,029,270.97 8.120000 % 867.16
B2-I 259,759.02 0.00 8.120000 % 0.00
B3-I 346,345.37 0.00 8.120000 % 0.00
SPRE 0.00 0.00 1.980039 % 0.00
- -------------------------------------------------------------------------------
156,997,402.05 106,580,554.15 2,427,494.87
===============================================================================
_______________________________________________________________________________
REMAINING
INTEREST TOTAL DEFERRED REALIZED PRINCIPAL
DISTRIBUTION DISTRIBUTION INTEREST LOSSES BALANCE
_______________________________________________________________________________
A1-I 38,033.94 2,254,501.52 0.00 0.00 3,489,314.03
A2-I 175,178.80 175,178.80 0.00 0.00 26,280,000.00
A3-I 132,110.68 132,110.68 0.00 0.00 19,819,000.00
A4-I 109,866.70 109,866.70 0.00 0.00 16,482,000.00
A5-I 74,142.65 74,142.65 0.00 0.00 11,122,743.00
A-II 161,413.71 368,072.25 0.00 0.00 24,007,753.37
R 0.00 0.00 0.00 0.00 0.00
B1-I 12,756.57 16,182.02 0.00 0.00 1,882,009.08
B2-I 283.58 359.72 0.00 0.00 41,835.99
B3-I 0.00 0.00 0.00 0.00 0.00
B1-II 6,964.05 7,831.21 0.00 0.00 985,582.66
B2-II 0.00 0.00 0.00 0.00 0.00
B3-II 0.00 0.00 0.00 0.00 0.00
SPRED 175,841.12 175,841.12 0.00 0.00 0.00
- -------------------------------------------------------------------------------
886,591.80 3,314,086.67 0.00 0.00 104,110,238.13
===============================================================================
_______________________________________________________________________________
AMOUNTS PER $1,000 UNIT
_______________________________________________________________________________
BEGINNING ENDING
BALANCE PRINCIPAL INTEREST TOTAL DEFERRED BALANCE
CLASS FACTOR FACTOR FACTOR DISTRIBUTION INTEREST FACTOR
_______________________________________________________________________________
A1-I 157.162419 61.051304 1.047623 62.098927 0.000000 96.111115
A2-I 1000.000000 0.000000 6.665860 6.665860 0.000000 1000.000000
A3-I 1000.000000 0.000000 6.665860 6.665860 0.000000 1000.000000
A4-I 1000.000000 0.000000 6.665860 6.665860 0.000000 1000.000000
A5-I 1000.000000 0.000000 6.665860 6.665860 0.000000 1000.000000
A-II 582.617195 4.972362 3.883737 8.856099 0.000000 577.644833
R 0.000000 0.000000 0.000000 0.000000 0.000000 0.000000
B1-I 968.633913 1.759810 6.553633 8.313443 0.000000 966.874103
B2-I 55.089550 0.100092 0.372739 0.472831 0.000000 54.989467
B3-I 0.000000 0.000000 0.000000 0.000000 0.000000 0.000000
B1-I 914.401633 0.770383 6.186844 6.957227 0.000000 875.589052
B2-I 0.000000 0.000000 0.000000 0.000000 0.000000 0.000000
B3-I 0.000000 0.000000 0.000000 0.000000 0.000000 0.000000
_______________________________________________________________________________
DETERMINATION DATE 20-May-97
DISTRIBUTION DATE 27-May-97
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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 34,413.90
SERVICING COMPENSATION RECEIVED BY MASTER SERVICER 0.00
SUBSERVICER ADVANCES THIS MONTH 190,693.36
MASTER SERVICER ADVANCES THIS MONTH 12,776.58
NUMBER OF PRINCIPAL
DELINQUENCIES: LOANS BALANCE
(A) ONE MONTHLY PAYMENT: 41 9,480,882.98
(B) TWO MONTHLY PAYMENTS: 7 2,049,884.67
(C) THREE OR MORE MONTHLY PAYMENTS: 1 190,948.57
FORECLOSURES
NUMBER OF LOANS 30
AGGREGATE PRINCIPAL BALANCE 7,557,505.33
SCHEDULED PRINCIPAL BALANCE OF MORTGAGE LOANS AFTER
DISTRIBUTION 104,110,238.13
AGGREGATE NUMBER OF LOANS IN THE POOL AS OF THE
DETERMINATION DATE 429
NUMBER OF REO LOANS ACQUIRED
INCLUDING ANY PENDING CASH LIQUIDATIONS 5
BOOK VALUE OF REAL ESTATE ACQUIRED THROUGH
FORECLOSURE OR GRANT OF A DEED IN LIEU OF
FORECLOSURE, INCLUDING ANY PENDING CASH LIQUIDATIONS 1,326,951.68
REMAINING SUBCLASS INTEREST SHORTFALL 0.00
CLASS A SHORTFALL (PRINCIPAL) 0.00
CLASS A SHORTFALL (INTEREST) 0.00
TOTAL PREPAYMENTS INCLUDED IN THIS DISTRIBUTION 2,083,655.14
TOTAL REPURCHASES INCLUDED IN THIS DISTRIBUTION 0.00
DISTRIBUTION PERCENTAGES:
SENIOR SUBORDINATE
PERCENTAGE FOR CURRENT DISTRIBUTION 97.22593150 % 2.77406860 %
CURRENT PREPAYMENT PERCENTAGE 100.00000000 % 0.00000000 %
PERCENTAGE FOR NEXT DISTRIBUTION 97.20543550 % 2.79456450 %
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 10.55032200
ENDING WEIGHTED AVERAGE MATURITY, IN MONTHS 257.14
POOL TRADING FACTOR: 66.31335090
................................................................................
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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 63,400,344.36 6.250000 % 2,235,847.95
R 4,664,765.74 6,219,687.28 0.000000 % 0.00
- -------------------------------------------------------------------------------
103,661,454.74 69,620,031.64 2,235,847.95
===============================================================================
_______________________________________________________________________________
REMAINING
INTEREST TOTAL DEFERRED REALIZED PRINCIPAL
DISTRIBUTION DISTRIBUTION INTEREST LOSSES BALANCE
_______________________________________________________________________________
A 352,208.72 2,588,056.67 0.00 0.00 61,164,496.41
R 0.00 0.00 0.00 0.00 6,207,537.23
- -------------------------------------------------------------------------------
352,208.72 2,588,056.67 0.00 0.00 67,372,033.64
===============================================================================
_______________________________________________________________________________
AMOUNTS PER $1,000 UNIT
_______________________________________________________________________________
BEGINNING ENDING
BALANCE PRINCIPAL INTEREST TOTAL DEFERRED BALANCE
CLASS FACTOR FACTOR FACTOR DISTRIBUTION INTEREST FACTOR
_______________________________________________________________________________
A 640.428938 22.585078 3.557783 26.142861 0.000000 617.843860
R 1333.333253 0.000000 0.000000 0.000000 0.000000 1330.728610
_______________________________________________________________________________
DETERMINATION DATE 20-May-97
DISTRIBUTION DATE 27-May-97
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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 25,645.79
SERVICING COMPENSATION RECEIVED BY MASTER SERVICER 328.92
SUBSERVICER ADVANCES THIS MONTH 91,053.05
MASTER SERVICER ADVANCES THIS MONTH 6,563.59
NUMBER OF PRINCIPAL
DELINQUENCIES: LOANS BALANCE
(A) ONE MONTHLY PAYMENT: 66 7,147,966.34
(B) TWO MONTHLY PAYMENTS: 6 693,226.01
(C) THREE OR MORE MONTHLY PAYMENTS: 1 258,322.84
FORECLOSURES
NUMBER OF LOANS 22
AGGREGATE PRINCIPAL BALANCE 2,426,658.96
SCHEDULED PRINCIPAL BALANCE OF MORTGAGE LOANS AFTER
DISTRIBUTION 67,372,033.64
AGGREGATE NUMBER OF LOANS IN THE POOL AS OF THE
DETERMINATION DATE 673
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 666,918.00
REMAINING SUBCLASS INTEREST SHORTFALL 0.00
CLASS A SHORTFALL (PRINCIPAL) 0.00
CLASS A SHORTFALL (INTEREST) 0.00
TOTAL PREPAYMENTS INCLUDED IN THIS DISTRIBUTION 1,464,035.61
TOTAL REPURCHASES INCLUDED IN THIS DISTRIBUTION 123,114.05
DISTRIBUTION PERCENTAGES:
SENIOR SUBORDINATE
PERCENTAGE FOR CURRENT DISTRIBUTION 91.06623890 % 8.93376110 %
CURRENT PREPAYMENT PERCENTAGE 100.00000000 % 0.00000000 %
PERCENTAGE FOR NEXT DISTRIBUTION 90.78618100 % 9.21381900 %
BANKRUPTCY AMOUNT AVAILABLE 100,000.00
FRAUD AMOUNT AVAILABLE 1,548,157.00
SPECIAL HAZARD AMOUNT AVAILABLE 1,077,292.00
ENDING GROSS WEIGHTED AVERAGE INTEREST RATE 10.56763866
ENDING WEIGHTED AVERAGE MATURITY, IN MONTHS 325.23
POOL TRADING FACTOR: 64.99236752
................................................................................
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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 47,623,779.65 6.150000 % 3,497,368.67
R 0.00 2,589,193.18 0.000000 % 0.00
- -------------------------------------------------------------------------------
77,178,720.00 50,212,972.83 3,497,368.67
===============================================================================
_______________________________________________________________________________
REMAINING
INTEREST TOTAL DEFERRED REALIZED PRINCIPAL
DISTRIBUTION DISTRIBUTION INTEREST LOSSES BALANCE
_______________________________________________________________________________
A 254,565.69 3,751,934.36 0.00 0.00 44,126,410.98
R 0.00 0.00 157,183.75 0.00 2,746,376.93
- -------------------------------------------------------------------------------
254,565.69 3,751,934.36 157,183.75 0.00 46,872,787.91
===============================================================================
_______________________________________________________________________________
AMOUNTS PER $1,000 UNIT
_______________________________________________________________________________
BEGINNING ENDING
BALANCE PRINCIPAL INTEREST TOTAL DEFERRED BALANCE
CLASS FACTOR FACTOR FACTOR DISTRIBUTION INTEREST FACTOR
_______________________________________________________________________________
A 617.058428 45.315194 3.298392 48.613586 0.000000 571.743234
_______________________________________________________________________________
DETERMINATION DATE 20-May-97
DISTRIBUTION DATE 27-May-97
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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 20,077.78
SERVICING COMPENSATION RECEIVED BY MASTER SERVICER 0.00
SUBSERVICER ADVANCES THIS MONTH 93,544.92
MASTER SERVICER ADVANCES THIS MONTH 1,571.47
NUMBER OF PRINCIPAL
DELINQUENCIES: LOANS BALANCE
(A) ONE MONTHLY PAYMENT: 49 6,276,151.11
(B) TWO MONTHLY PAYMENTS: 5 503,731.26
(C) THREE OR MORE MONTHLY PAYMENTS: 3 238,091.70
FORECLOSURES
NUMBER OF LOANS 22
AGGREGATE PRINCIPAL BALANCE 3,864,811.36
SCHEDULED PRINCIPAL BALANCE OF MORTGAGE LOANS AFTER
DISTRIBUTION 46,872,787.91
AGGREGATE NUMBER OF LOANS IN THE POOL AS OF THE
DETERMINATION DATE 373
NUMBER OF REO LOANS ACQUIRED
INCLUDING ANY PENDING CASH LIQUIDATIONS 2
BOOK VALUE OF REAL ESTATE ACQUIRED THROUGH
FORECLOSURE OR GRANT OF A DEED IN LIEU OF
FORECLOSURE, INCLUDING ANY PENDING CASH LIQUIDATIONS 186,359.34
REMAINING SUBCLASS INTEREST SHORTFALL 0.00
CLASS A SHORTFALL (PRINCIPAL) 0.00
CLASS A SHORTFALL (INTEREST) 0.00
TOTAL PREPAYMENTS INCLUDED IN THIS DISTRIBUTION 3,318,518.38
TOTAL REPURCHASES INCLUDED IN THIS DISTRIBUTION 0.00
DISTRIBUTION PERCENTAGES:
SENIOR SUBORDINATE
PERCENTAGE FOR CURRENT DISTRIBUTION 94.84357720 % 5.15642280 %
CURRENT PREPAYMENT PERCENTAGE 100.00000000 % 0.00000000 %
PERCENTAGE FOR NEXT DISTRIBUTION 94.14078600 % 5.85921400 %
BANKRUPTCY AMOUNT AVAILABLE 100,000.00
FRAUD AMOUNT AVAILABLE 1,071,853.00
SPECIAL HAZARD AMOUNT AVAILABLE 1,292,750.00
ENDING GROSS WEIGHTED AVERAGE INTEREST RATE 10.84280354
ENDING WEIGHTED AVERAGE MATURITY, IN MONTHS 341.30
POOL TRADING FACTOR: 60.73278737
................................................................................
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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 25,807,029.85 6.770000 % 2,031,138.84
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 352,608.35 337,831.89 0.000000 % 655.16
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 3,172,698.92 7.980000 % 7,287.70
B-2 904,165.00 892,322.39 7.980000 % 2,049.67
B-3 904,163.45 892,320.82 7.980000 % 2,049.66
SPRE 0.00 0.00 2.002350 % 0.00
- -------------------------------------------------------------------------------
100,462,675.80 85,188,936.87 2,043,181.03
===============================================================================
_______________________________________________________________________________
REMAINING
INTEREST TOTAL DEFERRED REALIZED PRINCIPAL
DISTRIBUTION DISTRIBUTION INTEREST LOSSES BALANCE
_______________________________________________________________________________
A-1 145,447.44 2,176,586.28 0.00 0.00 23,775,891.01
A-2 164,100.57 164,100.57 0.00 0.00 28,000,000.00
A-3 74,025.07 74,025.07 0.00 0.00 12,000,000.00
A-4 93,582.05 93,582.05 0.00 0.00 14,086,733.00
A-5 0.00 655.16 0.00 0.00 337,176.73
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 21,077.12 28,364.82 0.00 0.00 3,165,411.22
B-2 5,927.94 7,977.61 0.00 0.00 890,272.72
B-3 5,927.93 7,977.59 0.00 0.00 844,271.90
SPRED 142,004.62 142,004.62 0.00 0.00 0.00
- -------------------------------------------------------------------------------
652,092.74 2,695,273.77 0.00 0.00 83,099,756.58
===============================================================================
_______________________________________________________________________________
AMOUNTS PER $1,000 UNIT
_______________________________________________________________________________
BEGINNING ENDING
BALANCE PRINCIPAL INTEREST TOTAL DEFERRED BALANCE
CLASS FACTOR FACTOR FACTOR DISTRIBUTION INTEREST FACTOR
_______________________________________________________________________________
A-1 629.439752 49.539972 3.547499 53.087471 0.000000 579.899781
A-2 1000.000000 0.000000 5.860735 5.860735 0.000000 1000.000000
A-3 1000.000000 0.000000 6.168756 6.168756 0.000000 1000.000000
A-4 1000.000000 0.000000 6.643276 6.643276 0.000000 1000.000000
A-5 958.093845 1.858039 0.000000 1.858039 0.000000 956.235807
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-1 986.902140 2.266918 6.556265 8.823183 0.000000 984.635222
B-2 986.902158 2.266920 6.556259 8.823179 0.000000 984.635238
B-3 986.902114 2.266913 6.556259 8.823172 0.000000 933.760262
_______________________________________________________________________________
DETERMINATION DATE 20-May-97
DISTRIBUTION DATE 27-May-97
Run: 05/27/97 11:59:36 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 33,591.12
SERVICING COMPENSATION RECEIVED BY MASTER SERVICER 0.00
SUBSERVICER ADVANCES THIS MONTH 87,558.89
MASTER SERVICER ADVANCES THIS MONTH 0.00
NUMBER OF PRINCIPAL
DELINQUENCIES: LOANS BALANCE
(A) ONE MONTHLY PAYMENT: 68 7,354,144.98
(B) TWO MONTHLY PAYMENTS: 7 752,507.93
(C) THREE OR MORE MONTHLY PAYMENTS: 3 598,732.52
FORECLOSURES
NUMBER OF LOANS 19
AGGREGATE PRINCIPAL BALANCE 1,840,809.66
SCHEDULED PRINCIPAL BALANCE OF MORTGAGE LOANS AFTER
DISTRIBUTION 83,099,756.58
AGGREGATE NUMBER OF LOANS IN THE POOL AS OF THE
DETERMINATION DATE 810
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 1,818,979.33
TOTAL REPURCHASES INCLUDED IN THIS DISTRIBUTION 131,622.56
DISTRIBUTION PERCENTAGES:
SENIOR SUBORDINATE
PERCENTAGE FOR CURRENT DISTRIBUTION 94.15759860 % 5.84240140 %
CURRENT PREPAYMENT PERCENTAGE 100.00000000 % 0.00000000 %
PERCENTAGE FOR NEXT DISTRIBUTION 94.07950330 % 5.92049670 %
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 9.85726016
ENDING WEIGHTED AVERAGE MATURITY, IN MONTHS 325.72
POOL TRADING FACTOR: 82.71704483
................................................................................
Run: 05/27/97 11:59:37 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 143,731,008.00 111,699,382.05 6.100000 % 4,807,151.07
R 0.00 3,530,628.60 0.000000 % 0.00
- -------------------------------------------------------------------------------
143,731,008.00 115,230,010.65 4,807,151.07
===============================================================================
_______________________________________________________________________________
REMAINING
INTEREST TOTAL DEFERRED REALIZED PRINCIPAL
DISTRIBUTION DISTRIBUTION INTEREST LOSSES BALANCE
_______________________________________________________________________________
A 601,538.63 5,408,689.70 0.00 0.00 106,892,230.98
R 222,844.14 222,844.14 62,646.60 0.00 3,593,275.20
- -------------------------------------------------------------------------------
824,382.77 5,631,533.84 62,646.60 0.00 110,485,506.18
===============================================================================
_______________________________________________________________________________
AMOUNTS PER $1,000 UNIT
_______________________________________________________________________________
BEGINNING ENDING
BALANCE PRINCIPAL INTEREST TOTAL DEFERRED BALANCE
CLASS FACTOR FACTOR FACTOR DISTRIBUTION INTEREST FACTOR
_______________________________________________________________________________
A 777.141854 33.445470 4.185169 37.630639 0.000000 743.696384
_______________________________________________________________________________
DETERMINATION DATE 20-May-97
DISTRIBUTION DATE 27-May-97
Run: 05/27/97 11:59:37 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 46,984.47
SERVICING COMPENSATION RECEIVED BY MASTER SERVICER 0.00
SUBSERVICER ADVANCES THIS MONTH 133,251.88
MASTER SERVICER ADVANCES THIS MONTH 829.31
NUMBER OF PRINCIPAL
DELINQUENCIES: LOANS BALANCE
(A) ONE MONTHLY PAYMENT: 78 9,235,408.89
(B) TWO MONTHLY PAYMENTS: 13 2,366,454.46
(C) THREE OR MORE MONTHLY PAYMENTS: 8 1,248,052.53
FORECLOSURES
NUMBER OF LOANS 25
AGGREGATE PRINCIPAL BALANCE 3,016,301.59
SCHEDULED PRINCIPAL BALANCE OF MORTGAGE LOANS AFTER
DISTRIBUTION 110,485,506.18
AGGREGATE NUMBER OF LOANS IN THE POOL AS OF THE
DETERMINATION DATE 850
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 99,269.59
REMAINING SUBCLASS INTEREST SHORTFALL 0.00
CLASS A SHORTFALL (PRINCIPAL) 0.00
CLASS A SHORTFALL (INTEREST) 0.00
TOTAL PREPAYMENTS INCLUDED IN THIS DISTRIBUTION 4,521,315.16
TOTAL REPURCHASES INCLUDED IN THIS DISTRIBUTION 80,558.75
DISTRIBUTION PERCENTAGES:
SENIOR SUBORDINATE
PERCENTAGE FOR CURRENT DISTRIBUTION 96.93601640 % 3.06398360 %
CURRENT PREPAYMENT PERCENTAGE 100.00000000 % 0.00000000 %
PERCENTAGE FOR NEXT DISTRIBUTION 96.74774070 % 3.25225930 %
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 10.24222479
ENDING WEIGHTED AVERAGE MATURITY, IN MONTHS 345.74
POOL TRADING FACTOR: 76.86963844
................................................................................
Run: 05/27/97 12:00:17 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 25,123,407.69 5.812500 % 1,583,223.61
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 223,019,000.00 190,461,567.96 5.987500 % 6,161,931.96
R 1,035.81 5,706,128.75 0.000000 % 0.00
- -------------------------------------------------------------------------------
317,942,035.81 282,689,104.40 7,745,155.57
===============================================================================
_______________________________________________________________________________
REMAINING
INTEREST TOTAL DEFERRED REALIZED PRINCIPAL
DISTRIBUTION DISTRIBUTION INTEREST LOSSES BALANCE
_______________________________________________________________________________
A-I-1 129,699.76 1,712,923.37 0.00 0.00 23,540,184.08
A-I-2 213,979.17 213,979.17 0.00 0.00 35,203,000.00
A-I-3 47,294.08 47,294.08 0.00 0.00 7,449,000.00
A-I-4 76,798.54 76,798.54 0.00 0.00 11,675,000.00
A-I-5 47,396.44 47,396.44 0.00 0.00 7,071,000.00
A-II 1,011,978.48 7,173,910.44 0.00 0.00 184,299,636.00
R 0.00 0.00 661,199.88 0.00 6,367,328.63
- -------------------------------------------------------------------------------
1,527,146.47 9,272,302.04 661,199.88 0.00 275,605,148.71
===============================================================================
_______________________________________________________________________________
AMOUNTS PER $1,000 UNIT
_______________________________________________________________________________
BEGINNING ENDING
BALANCE PRINCIPAL INTEREST TOTAL DEFERRED BALANCE
CLASS FACTOR FACTOR FACTOR DISTRIBUTION INTEREST FACTOR
_______________________________________________________________________________
A-I- 749.415574 47.226572 3.868863 51.095435 0.000000 702.189001
A-I- 1000.000000 0.000000 6.078436 6.078436 0.000000 1000.000000
A-I- 1000.000000 0.000000 6.349051 6.349051 0.000000 1000.000000
A-I- 1000.000000 0.000000 6.578033 6.578033 0.000000 1000.000000
A-I- 1000.000000 0.000000 6.702933 6.702933 0.000000 1000.000000
A-II 854.014985 27.629628 4.537633 32.167261 0.000000 826.385357
_______________________________________________________________________________
DETERMINATION DATE 20-May-97
DISTRIBUTION DATE 27-May-97
Run: 05/27/97 12:00:17 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 115,818.04
SERVICING COMPENSATION RECEIVED BY MASTER SERVICER 0.00
SUBSERVICER ADVANCES THIS MONTH 260,006.17
MASTER SERVICER ADVANCES THIS MONTH 2,484.68
NUMBER OF PRINCIPAL
DELINQUENCIES: LOANS BALANCE
(A) ONE MONTHLY PAYMENT: 184 21,070,155.30
(B) TWO MONTHLY PAYMENTS: 33 4,005,260.74
(C) THREE OR MORE MONTHLY PAYMENTS: 10 969,673.92
FORECLOSURES
NUMBER OF LOANS 43
AGGREGATE PRINCIPAL BALANCE 4,851,582.54
SCHEDULED PRINCIPAL BALANCE OF MORTGAGE LOANS AFTER
DISTRIBUTION 275,605,148.71
AGGREGATE NUMBER OF LOANS IN THE POOL AS OF THE
DETERMINATION DATE 2,346
NUMBER OF REO LOANS ACQUIRED
INCLUDING ANY PENDING CASH LIQUIDATIONS 2
BOOK VALUE OF REAL ESTATE ACQUIRED THROUGH
FORECLOSURE OR GRANT OF A DEED IN LIEU OF
FORECLOSURE, INCLUDING ANY PENDING CASH LIQUIDATIONS 298,965.30
REMAINING SUBCLASS INTEREST SHORTFALL 0.00
CLASS A SHORTFALL (PRINCIPAL) 0.00
CLASS A SHORTFALL (INTEREST) 0.00
TOTAL PREPAYMENTS INCLUDED IN THIS DISTRIBUTION 6,794,900.66
TOTAL REPURCHASES INCLUDED IN THIS DISTRIBUTION 0.00
DISTRIBUTION PERCENTAGES:
SENIOR SUBORDINATE
PERCENTAGE FOR CURRENT DISTRIBUTION 97.98148260 % 2.01851740 %
CURRENT PREPAYMENT PERCENTAGE 100.00000000 % 0.00000000 %
PERCENTAGE FOR NEXT DISTRIBUTION 97.68969170 % 2.31030830 %
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 10.26660400
ENDING WEIGHTED AVERAGE MATURITY, IN MONTHS 342.98
POOL TRADING FACTOR: 86.68408630
................................................................................
Run: 05/27/97 11:59:51 REPT1B.FRG
Page: 1 of 2
RESIDENTIAL FUNDING CORPORATION (MASTER SERVICER)
RESIDENTIAL ASSET SECURITIES CORPORATION (COMPANY)
MORTGAGE PASS-THROUGH CERTIFICATES SERIES 1996-KS5 (POOL # 4232)
STATEMENT TO CERTIFICATEHOLDERS
DISTRIBUTION SUMMARY FOR POOL# 4232
_______________________________________________________________________________
PRINCIPAL CURRENT
ORIGINAL BALANCE BEFORE PASS-THROUGH PRINCIPAL
CLASS CUSIP FACE VALUE DISTRIBUTION RATE DISTRIBUTION
_______________________________________________________________________________
A 76110WBC9 200,011,758.00 186,149,653.48 6.025000 % 4,867,960.95
R 0.40 1,873,295.37 0.000000 % 0.00
- -------------------------------------------------------------------------------
200,011,758.40 188,022,948.85 4,867,960.95
===============================================================================
_______________________________________________________________________________
REMAINING
INTEREST TOTAL DEFERRED REALIZED PRINCIPAL
DISTRIBUTION DISTRIBUTION INTEREST LOSSES BALANCE
_______________________________________________________________________________
A 996,934.81 5,864,895.76 0.00 0.00 181,281,692.53
R 0.00 0.00 450,426.44 0.00 2,323,721.81
- -------------------------------------------------------------------------------
996,934.81 5,864,895.76 450,426.44 0.00 183,605,414.34
===============================================================================
_______________________________________________________________________________
AMOUNTS PER $1,000 UNIT
_______________________________________________________________________________
BEGINNING ENDING
BALANCE PRINCIPAL INTEREST TOTAL DEFERRED BALANCE
CLASS FACTOR FACTOR FACTOR DISTRIBUTION INTEREST FACTOR
_______________________________________________________________________________
A 930.693552 24.338374 4.984381 29.322755 0.000000 906.355178
_______________________________________________________________________________
DETERMINATION DATE 20-May-97
DISTRIBUTION DATE 27-May-97
Run: 05/27/97 11:59:51 rept2.frg
Page: 2 of 2
RESIDENTIAL FUNDING CORPORATION (MASTER SERVICER)
RESIDENTIAL ASSET SECURITIES CORPORATION (COMPANY)
MORTGAGE PASS-THROUGH CERTIFICATES 1996-KS5 (POOL # 4232)
STATEMENT TO CERTIFICATEHOLDERS
ADDITIONAL RELATED INFORMATION FOR POOL 4232
_______________________________________________________________________________
SERVICING COMPENSATION RECEIVED BY SUB-SERVICER 77,400.82
SERVICING COMPENSATION RECEIVED BY MASTER SERVICER 0.00
SUBSERVICER ADVANCES THIS MONTH 125,434.56
MASTER SERVICER ADVANCES THIS MONTH 0.00
NUMBER OF PRINCIPAL
DELINQUENCIES: LOANS BALANCE
(A) ONE MONTHLY PAYMENT: 84 10,091,595.91
(B) TWO MONTHLY PAYMENTS: 14 2,379,017.81
(C) THREE OR MORE MONTHLY PAYMENTS: 8 1,014,652.17
FORECLOSURES
NUMBER OF LOANS 18
AGGREGATE PRINCIPAL BALANCE 1,817,798.18
SCHEDULED PRINCIPAL BALANCE OF MORTGAGE LOANS AFTER
DISTRIBUTION 183,605,414.34
AGGREGATE NUMBER OF LOANS IN THE POOL AS OF THE
DETERMINATION DATE 1,416
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 4,330,039.86
TOTAL REPURCHASES INCLUDED IN THIS DISTRIBUTION 0.00
DISTRIBUTION PERCENTAGES:
SENIOR SUBORDINATE
PERCENTAGE FOR CURRENT DISTRIBUTION 99.00368790 % 0.99631210 %
CURRENT PREPAYMENT PERCENTAGE 100.00000000 % 0.00000000 %
PERCENTAGE FOR NEXT DISTRIBUTION 98.73439360 % 1.26560640 %
BANKRUPTCY AMOUNT AVAILABLE 100,000.00
FRAUD AMOUNT AVAILABLE 6,000,353.00
SPECIAL HAZARD AMOUNT AVAILABLE 2,000,118.00
ENDING GROSS WEIGHTED AVERAGE INTEREST RATE 10.05948376
ENDING WEIGHTED AVERAGE MATURITY, IN MONTHS 352.85
POOL TRADING FACTOR: 91.79731022
................................................................................
Run: 05/27/97 12:00:18 REPT1B.FRG
Page: 1 of 2
RESIDENTIAL FUNDING CORPORATION (MASTER SERVICER)
RESIDENTIAL ASSET SECURITIES CORPORATION (COMPANY)
MORTGAGE ASSET-BACKED PASS-THROUGH CERTIFICATES SERIES 1997-KS1 (POOL # 4241)
STATEMENT TO CERTIFICATEHOLDERS
DISTRIBUTION SUMMARY FOR POOL# 4241
_______________________________________________________________________________
PRINCIPAL CURRENT
ORIGINAL BALANCE BEFORE PASS-THROUGH PRINCIPAL
CLASS CUSIP FACE VALUE DISTRIBUTION RATE DISTRIBUTION
_______________________________________________________________________________
A-I- 76110WBD7 52,000,000.00 50,634,542.66 5.827500 % 1,047,468.39
A-I- 76110WBE5 32,000,000.00 32,000,000.00 7.070000 % 0.00
A-I- 76110WBF2 16,000,000.00 16,000,000.00 7.390000 % 0.00
A-I- 76110WBG0 21,743,601.00 21,743,601.00 10.295018 % 0.00
A-II 76100WBH8 151,859,043.00 149,980,079.73 5.927500 % 2,405,100.30
R 1.60 725,362.83 0.000000 % 0.00
- -------------------------------------------------------------------------------
273,602,645.60 271,083,586.22 3,452,568.69
===============================================================================
_______________________________________________________________________________
REMAINING
INTEREST TOTAL DEFERRED REALIZED PRINCIPAL
DISTRIBUTION DISTRIBUTION INTEREST LOSSES BALANCE
_______________________________________________________________________________
A-I-1 262,286.93 1,309,755.32 0.00 0.00 49,587,074.27
A-I-2 188,533.33 188,533.33 0.00 0.00 32,000,000.00
A-I-3 98,533.33 98,533.33 0.00 0.00 16,000,000.00
A-I-4 186,542.31 186,542.31 0.00 0.00 21,743,601.00
A-II 790,228.38 3,195,328.68 0.00 0.00 147,574,979.43
R 0.00 0.00 617,180.49 0.00 1,342,543.32
- -------------------------------------------------------------------------------
1,526,124.28 4,978,692.97 617,180.49 0.00 268,248,198.02
===============================================================================
_______________________________________________________________________________
AMOUNTS PER $1,000 UNIT
_______________________________________________________________________________
BEGINNING ENDING
BALANCE PRINCIPAL INTEREST TOTAL DEFERRED BALANCE
CLASS FACTOR FACTOR FACTOR DISTRIBUTION INTEREST FACTOR
_______________________________________________________________________________
A-I- 973.741205 20.143623 5.043979 25.187602 0.000000 953.597582
A-I- 1000.000000 0.000000 5.891667 5.891667 0.000000 1000.000000
A-I- 1000.000000 0.000000 6.158333 6.158333 0.000000 1000.000000
A-I- 1000.000000 0.000000 8.579182 8.579182 0.000000 1000.000000
A-II 987.626925 15.837715 5.203697 21.041412 0.000000 971.789210
_______________________________________________________________________________
DETERMINATION DATE 20-May-97
DISTRIBUTION DATE 27-May-97
Run: 05/27/97 12:00:18 rept2.frg
Page: 2 of 2
RESIDENTIAL FUNDING CORPORATION (MASTER SERVICER)
RESIDENTIAL ASSET SECURITIES CORPORATION (COMPANY)
MORTGAGE ASSET-BACKED PASS-THROUGH CERTIFICATES 1997-KS1 (POOL # 4241)
STATEMENT TO CERTIFICATEHOLDERS
ADDITIONAL RELATED INFORMATION FOR POOL 4241
_______________________________________________________________________________
SERVICING COMPENSATION RECEIVED BY SUB-SERVICER 112,242.11
SERVICING COMPENSATION RECEIVED BY MASTER SERVICER 7,374.13
SUBSERVICER ADVANCES THIS MONTH 73,313.75
MASTER SERVICER ADVANCES THIS MONTH 0.00
NUMBER OF PRINCIPAL
DELINQUENCIES: LOANS BALANCE
(A) ONE MONTHLY PAYMENT: 135 14,256,910.68
(B) TWO MONTHLY PAYMENTS: 22 2,588,235.73
(C) THREE OR MORE MONTHLY PAYMENTS: 6 918,316.38
FORECLOSURES
NUMBER OF LOANS 2
AGGREGATE PRINCIPAL BALANCE 277,532.67
SCHEDULED PRINCIPAL BALANCE OF MORTGAGE LOANS AFTER
DISTRIBUTION 268,248,198.02
AGGREGATE NUMBER OF LOANS IN THE POOL AS OF THE
DETERMINATION DATE 2,587
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 2,681,426.12
TOTAL REPURCHASES INCLUDED IN THIS DISTRIBUTION 0.00
DISTRIBUTION PERCENTAGES:
SENIOR SUBORDINATE
PERCENTAGE FOR CURRENT DISTRIBUTION 99.73242100 % 0.26757900 %
CURRENT PREPAYMENT PERCENTAGE 100.00000000 % 0.00000000 %
PERCENTAGE FOR NEXT DISTRIBUTION 99.49951450 % 0.50048550 %
BANKRUPTCY AMOUNT AVAILABLE 100,000.00
FRAUD AMOUNT AVAILABLE 3,909,309.00
SPECIAL HAZARD AMOUNT AVAILABLE 1,270,558.00
ENDING GROSS WEIGHTED AVERAGE INTEREST RATE 10.22591100
ENDING WEIGHTED AVERAGE MATURITY, IN MONTHS 331.49
POOL TRADING FACTOR: 98.04298399
................................................................................
