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)
July 25, 1998
RESIDENTIAL FUNDING MORTGAGE SECURITIES II, INC.
(Exact name of the registrant
as specified in its charter)
Delaware 333-28025 41-1808858
(State or other (Commission (I.R.S. Employee
jurisdiction of File No.) Identification No.)
Incorporation)
8400 Normandale Lake Boulevard 55437
Minneapolis, Minnesota
(Address of Principal (Zip Code)
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
<PAGE>
the May 1998 distribution to holders of the following series of Conduit Mortgage
Pass-Through Certificates.
Master Serviced by Residential Funding Corporation
1996-HS1 RFM2 1996-HS2 RFM2 1996-HS3 RFM2 1995-1 RFM2 1996-RHS4 RFM2 1997-HI1
RFM2 1997-HS2 RFM2 1997-HI3 RFM2 1997-GMACM4 RFM2 1997-HS5 RFM2 1998-HS1 RFM2
1998-HI2 RFM2 ->
Item 7. Financial Statements and Exhibits (a) See attached monthly reports.
.
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RESIDENTIAL FUNDING CORPORATION (MASTER SERVICER)
HOME EQUITY LOAN TRUST 1995-1 (ISSUER)
SERIES 1995-1
PAYMENT DATE: 07/20/98
DISTRIBUTION AMOUNTS
CLASS ORIGINAL/ PRINCIPAL INTEREST
CUSIP BEGINNING DISTRIBUTION DISTRIBUTION
BALANCE FACTOR FACTOR
PASS-THROUGH ACCEL PRIN ENDING BALANCE
RATE FACTOR FACTOR
TERM NOTES 128,078,000.00 3,056,036.22 289,207.71
525180AF2 62,428,286.74 23.860743 2.258059
5.95625 15,173.28 59,357,077.24
0.118469 463.444754
CERTIFICATES 6,740,000.00 160,821.41 15,602.60
525180AG0 3,285,237.56 23.860743 2.314926
6.10625 798.48 3,123,617.67
0.118469 463.444758
VARIABLE FUNDING NOTES 0.00 0.00 0.00
5.95625 0.00 0.00
- -----------------------------------------------------------------------------
134,818,000.00 3,216,857.63 304,810.31
65,713,524.30 15,971.76 62,480,694.91
=============================================================================
SECURITY COLLECTIONS
SECURITY INTEREST COLLECTIONS: 606,951.62
SECURITY PRINCIPAL COLLECTIONS: 3,059,181.02
AGGREGATE SECURITY COLLECTIONS: 3,666,132.64
MORTGAGE LOANS: ENDING WEIGHTED AVERAGE
ASSET BALANCE NET LOAN RATE
------------- ----------------
FIDELITY LOANS: 19,339,090.07 9.8586
GMACMC LOANS: 20,241,789.01 9.5424
GOAL LINE LOANS: 24,922,094.80 10.1676
TOTAL LOANS: 64,502,973.88 9.8823
FUNDING ACCOUNT
DEPOSIT AMOUNT: 0.00
NEW BALANCE: 0.00
AGGREGATE LIQUIDATION CUMULATIVE LIQUIDATION
LOSS AMOUNTS FOR THE LOSS AMOUNTS AS A
COLLECTION PERIOD: 158,824.31 PERCENTAGE OF POOL BALANCE:
DISTRIBUTION TO 4.808 %
RESIDUAL OWNERSHIP
INTEREST: 115,133.36
MASTER SERVICER:
RESIDENTIAL FUNDING CORPORATION
10 UNIVERSAL CITY PLAZA, SUITE 2100
UNIVERSAL CITY, CA 91608
(818) 753-3500
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HOME EQUITY LOAN TRUST 1995-1 (ISSUER)
RESIDENTIAL FUNDING CORPORATION (MASTER SERVICER)
SERIES 1995-1
PAYMENT DATE: 07/20/98
ADDITIONAL INFORMATION
CLASS EXCESS REMAINING ENDING
LOSS AMOUNT UNPAID SECURITY
INTEREST PERCENTAGE
TERM NOTES 0.00 0.00 95.00066753
CERTIFICATES 0.00 0.00 4.99933247
VARIABLE FUNDING NOTES 0.00 0.00 0.00000000
RESERVE AMOUNT DELINQUENCY
AT END OF CURRENT PERIOD: LOANS
30 - 59 DAYS DELINQUENT 31
CURRENT AMOUNT: 2,022,278.97 770,330.22
TARGET AMOUNT: 2,022,278.97
60 - 89 DAYS DELINQUENT 8
209,039.54
CREDIT ENHANCEMENT
90 - 179 DAYS DELINQUENT 12
356,893.95
DRAW AMOUNT: 0.00
PRIOR DRAWS NOT 180 OR MORE DELINQUENT 29
YET REIMBURSED: 0.00 1,149,630.72
REO LOANS 0
ADDITIONAL BALANCES 0.00
CURRENT PERIOD: 993,148.66
SPECIAL HAZARD AMOUNT: 2,075,429.00
FRAUD LOSS AMOUNT: 6,840,322.00
BANKRUPTCY LOSS AMOUNT: 100,000.00
MASTER SERVICER
RESIDENTIAL FUNDING CORPORATION
10 UNIVERSAL CITY PLAZA, SUITE 2100
UNIVERSAL CITY, CA 91608
(818) 753-3500
................................................................................
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RESIDENTIAL FUNDING CORPORATION (MASTER SERVICER)
HOME EQUITY LOAN TRUST 1996-HS1 (ISSUER)
RFMSII SERIES 1996-HS1
PAYMENT DATE: 07/20/98
DISTRIBUTION AMOUNTS
CLASS ORIGINAL/ PRINCIPAL INTEREST
CUSIP BEGINNING DISTRIBUTION DISTRIBUTION
BALANCE FACTOR FACTOR
PASS-THROUGH ACCEL PRIN ENDING BALANCE
RATE FACTOR FACTOR
TERM NOTES 162,077,000.00 3,636,540.85 404,412.57
76110VAA6 88,334,512.62 22.437118 2.495188
5.88625 0.00 84,697,971.77
0.000000 522.578600
VARIABLE FUNDING NOTES 0.00 0.00 0.00
5.88625 0.00 0.00
CERTIFICATES 14,092,938.00 316,204.92 35,881.41
76110VAB4 7,680,872.71 22.437119 2.546056
6.00625 0.00 7,364,667.79
0.000000 522.578599
VARIABLE FUNDING CERT 0.00 0.00 0.00
76110VAB4
6.00625 0.00 0.00
- -----------------------------------------------------------------------------
176,169,938.00 3,952,745.77 440,293.98
96,015,385.33 0.00 92,062,639.56
=============================================================================
SECURITY COLLECTIONS
SECURITY INTEREST COLLECTIONS: 894,956.49
SECURITY PRINCIPAL COLLECTIONS: 3,813,314.03
AGGREGATE SECURITY COLLECTIONS: 4,708,270.52
MORTGAGE LOANS: ENDING WEIGHTED AVERAGE
ASSET BALANCE NET LOAN RATE
------------- ----------------
TOTAL LOANS: 94,705,227.38 10.3502
FUNDING ACCOUNT
DEPOSIT AMOUNT: 0.00
NEW BALANCE: 0.00
AGGREGATE LIQUIDATION CUMULATIVE LIQUIDATION
LOSS AMOUNTS FOR THE LOSS AMOUNTS AS A
COLLECTION PERIOD: 139,431.74 PERCENTAGE OF POOL BALANCE:
DISTRIBUTION TO 2.639 %
RESIDUAL OWNERSHIP
INTEREST: 301,628.59
MASTER SERVICER:
RESIDENTIAL FUNDING CORPORATION
10 UNIVERSAL CITY PLAZA, SUITE 2100
UNIVERSAL CITY, CA 91608
(818) 753-3500
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RESIDENTIAL FUNDING MORTGAGE SECURITIES II, INC.
HOME EQUITY LOAN TRUST 1996-HS1 (ISSUER)
RESIDENTIAL FUNDING CORPORATION (MASTER SERVICER)
1996-HS1 LLC (LIMITED LIABILITY COMPANY)
PAYMENT DATE: 07/20/98
ADDITIONAL INFORMATION
CLASS EXCESS REMAINING ENDING
LOSS AMOUNT UNPAID SECURITY
INTEREST PERCENTAGE
TERM NOTES 0.00 0.00 92.00037298
VARIABLE FUNDING NOTES 0.00 0.00 0.00000000
CERTIFICATES 0.00 0.00 7.99962702
VARIABLE FUNDING CERT 0.00 0.00 0.00000000
RESERVE AMOUNT DELINQUENCY
AT END OF CURRENT PERIOD: LOANS
30 - 59 DAYS DELINQUENT 60
CURRENT AMOUNT: 2,642,587.82 1,481,726.34
TARGET AMOUNT: 2,642,561.52
60 - 89 DAYS DELINQUENT 15
346,569.52
CREDIT ENHANCEMENT
90 - 179 DAYS DELINQUENT 29
721,692.82
DRAW AMOUNT: 0.00
PRIOR DRAWS NOT 180 OR MORE DELINQUENT 41
YET REIMBURSED: 0.00 1,278,488.44
REO LOANS 0
ADDITIONAL BALANCES 0.00
CURRENT PERIOD: 1,138,697.75
SPECIAL HAZARD AMOUNT: 2,075,429.00
FRAUD LOSS AMOUNT: 6,840,322.00
BANKRUPTCY LOSS AMOUNT: 100,000.00
MASTER SERVICER
RESIDENTIAL FUNDING CORPORATION
10 UNIVERSAL CITY PLAZA, SUITE 2100
UNIVERSAL CITY, CA 91608
(818) 753-3500
................................................................................
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RESIDENTIAL FUNDING CORPORATION (MASTER SERVICER)
RESIDENTIAL FUNDING MORTGAGE SECURITIES II, INC. (COMPANY)
HOME EQUITY LOAN PASS-THROUGH CERTIFICATES SERIES 1996-HS2(POOL # 50025)
STATEMENT TO CERTIFICATEHOLDERS
DISTRIBUTION SUMMARY FOR POOL# 50025
_______________________________________________________________________________
PRINCIPAL CURRENT
ORIGINAL BALANCE BEFORE PASS-THROUGH PRINCIPAL
CLASS CUSIP FACE VALUE DISTRIBUTION RATE DISTRIBUTION
_______________________________________________________________________________
A-1 76110VAC2 74,000,000.00 0.00 6.950000 % 0.00
A-2 76110VAD0 15,000,000.00 0.00 6.950000 % 0.00
A-3 76110VAE8 41,000,000.00 31,061,279.99 7.200000 % 5,698,106.06
A-4 76110VAF5 26,500,000.00 26,500,000.00 7.550000 % 0.00
A-5 76110VAG3 9,374,000.00 9,374,000.00 7.850000 % 0.00
A-6 76110VAH1 12,341,000.00 12,341,000.00 7.950000 % 0.00
A-L 76110VAK4 20,152,179.00 20,152,179.00 7.600000 % 0.00
IO 76110VAJ7 0.00 0.00 1.700000 % 0.00
R-I 0.00 0.00 0.000000 % 0.00
R-II 0.00 5,653,464.61 0.000000 % 0.00
- -------------------------------------------------------------------------------
198,367,179.00 105,081,923.60 5,698,106.06
===============================================================================
_______________________________________________________________________________
REMAINING
INTEREST TOTAL DEFERRED REALIZED PRINCIPAL
DISTRIBUTION DISTRIBUTION INTEREST LOSSES BALANCE
_______________________________________________________________________________
A-1 0.00 0.00 0.00 0.00 0.00
A-2 0.00 0.00 0.00 0.00 0.00
A-3 186,367.68 5,884,473.74 0.00 0.00 25,363,173.93
A-4 166,729.17 166,729.17 0.00 0.00 26,500,000.00
A-5 61,321.58 61,321.58 0.00 0.00 9,374,000.00
A-6 81,759.13 81,759.13 0.00 0.00 12,341,000.00
A-L 127,630.47 127,630.47 0.00 0.00 20,152,179.00
IO 47,533.03 47,533.03 0.00 0.00 0.00
R-I 0.00 0.00 0.00 0.00 0.00
R-II 167,276.04 167,276.04 0.00 0.00 5,653,464.61
- -------------------------------------------------------------------------------
838,617.10 6,536,723.16 0.00 0.00 99,383,817.54
===============================================================================
_______________________________________________________________________________
AMOUNTS PER $1,000 UNIT
_______________________________________________________________________________
BEGINNING ENDING
BALANCE PRINCIPAL INTEREST TOTAL DEFERRED BALANCE
CLASS FACTOR FACTOR FACTOR DISTRIBUTION INTEREST FACTOR
_______________________________________________________________________________
A-1 0.000000 0.000000 0.000000 0.000000 0.000000 0.000000
A-2 0.000000 0.000000 0.000000 0.000000 0.000000 0.000000
A-3 757.592195 138.978197 4.545553 143.523750 0.000000 618.613998
A-4 1000.000000 0.000000 6.291667 6.291667 0.000000 1000.000000
A-5 1000.000000 0.000000 6.541666 6.541666 0.000000 1000.000000
A-6 1000.000000 0.000000 6.625000 6.625000 0.000000 1000.000000
A-L 1000.000000 0.000000 6.333333 6.333333 0.000000 1000.000000
IO 0.000000 0.000000 0.000000 0.000000 0.000000 0.000000
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
_______________________________________________________________________________
DETERMINATION DATE 20-July-98
DISTRIBUTION DATE 27-July-98
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RESIDENTIAL FUNDING CORPORATION (MASTER SERVICER)
RESIDENTIAL FUNDING MORTGAGE SECURITIES II, INC. (COMPANY)
HOME EQUITY LOAN PASS-THROUGH CERTIFICATES 1996-HS2 (POOL # 50025)
STATEMENT TO CERTIFICATEHOLDERS
ADDITIONAL RELATED INFORMATION FOR POOL 50025
_______________________________________________________________________________
SERVICING COMPENSATION RECEIVED BY SUB-SERVICER 44,687.18
SERVICING COMPENSATION RECEIVED BY MASTER SERVICER 7,149.94
SUBSERVICER ADVANCES THIS MONTH 0.00
MASTER SERVICER ADVANCES THIS MONTH 0.00
NUMBER OF PRINCIPAL
DELINQUENCIES: LOANS BALANCE
(A) ONE MONTHLY PAYMENT: 23 719,640.16
(B) TWO MONTHLY PAYMENTS: 10 288,888.31
(C) THREE OR MORE MONTHLY PAYMENTS: 28 775,948.04
FORECLOSURES
NUMBER OF LOANS 0
AGGREGATE PRINCIPAL BALANCE 0.00
SCHEDULED PRINCIPAL BALANCE OF MORTGAGE LOANS AFTER
DISTRIBUTION 99,383,817.54
AGGREGATE NUMBER OF LOANS IN THE POOL AS OF THE
DETERMINATION DATE 3,338
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 5,050,360.16
TOTAL REPURCHASES INCLUDED IN THIS DISTRIBUTION 0.00
DISTRIBUTION PERCENTAGES:
SENIOR SUBORDINATE
PERCENTAGE FOR CURRENT DISTRIBUTION 94.61994560 % 5.38005440 %
CURRENT PREPAYMENT PERCENTAGE 100.00000000 % 0.00000000 %
PERCENTAGE FOR NEXT DISTRIBUTION 94.31148380 % 5.68851620 %
CLASS IO - STRIP PASS-THROUGH FOR NEXT DISTRIBUTION 0.0000 %
BANKRUPTCY AMOUNT AVAILABLE 0.00
FRAUD AMOUNT AVAILABLE 0.00
SPECIAL HAZARD AMOUNT AVAILABLE 0.00
ENDING GROSS WEIGHTED AVERAGE INTEREST RATE 0.00000000
ENDING WEIGHTED AVERAGE MATURITY, IN MONTHS 0.00
POOL TRADING FACTOR: 50.10093798
................................................................................
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13:30:08
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RESIDENTIAL FUNDING CORPORATION (MASTER SERVICER)
HOME EQUITY LOAN TRUST 1996-HS3 (ISSUER)
RFMSII SERIES 1996-HS3
PAYMENT DATE: 07/20/98
DISTRIBUTION AMOUNTS
CLASS ORIGINAL/ PRINCIPAL INTEREST
CUSIP BEGINNING DISTRIBUTION DISTRIBUTION
BALANCE FACTOR FACTOR
PASS-THROUGH ACCEL PRIN ENDING BALANCE
RATE FACTOR FACTOR
TERM NOTES 247,244,000.00 7,334,907.75 596,985.17
43707QAC2 130,842,081.53 29.666676 2.414559
5.86625 0.00 123,507,173.78
0.000000 499.535575
VARIABLE FUNDING NOTES 0.00 0.00 0.00
5.86625 0.00 0.00
CERTIFICATES 21,499,396.00 637,815.62 53,592.90
43707QAD0 11,377,528.78 29.666676 2.492763
6.05625 0.00 10,739,713.16
0.000000 499.535576
VARIABLE FUNDING CERT 0.00 0.00 0.00
6.05625 0.00 0.00
- -----------------------------------------------------------------------------
268,743,396.00 7,972,723.37 650,578.07
142,219,610.31 0.00 134,246,886.94
=============================================================================
SECURITY COLLECTIONS
SECURITY INTEREST COLLECTIONS: 1,328,933.72
SECURITY PRINCIPAL COLLECTIONS: 7,939,652.35
AGGREGATE SECURITY COLLECTIONS: 9,268,586.07
MORTGAGE LOANS: ENDING WEIGHTED AVERAGE
ASSET BALANCE NET LOAN RATE
------------- ----------------
TOTAL LOANS: 139,621,754.86 10.3685
FUNDING ACCOUNT
DEPOSIT AMOUNT: 0.00
NEW BALANCE: 0.00
AGGREGATE LIQUIDATION CUMULATIVE LIQUIDATION
LOSS AMOUNTS FOR THE LOSS AMOUNTS AS A
COLLECTION PERIOD: 33,088.02 PERCENTAGE OF POOL BALANCE:
DISTRIBUTION TO 0.415 %
RESIDUAL OWNERSHIP
INTEREST: 622,749.53
MASTER SERVICER:
RESIDENTIAL FUNDING CORPORATION
10 UNIVERSAL CITY PLAZA, SUITE 2100
UNIVERSAL CITY, CA 91608
(818) 753-3500
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13:31:32
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RESIDENTIAL FUNDING MORTGAGE SECURITIES II, INC.
HOME EQUITY LOAN TRUST 1996-HS3 (ISSUER)
RESIDENTIAL FUNDING CORPORATION (MASTER SERVICER)
1996-HS3 LLC (LIMITED LIABILITY COMPANY)
PAYMENT DATE: 07/20/98
ADDITIONAL INFORMATION
CLASS EXCESS REMAINING ENDING
LOSS AMOUNT UNPAID SECURITY
INTEREST PERCENTAGE
TERM NOTES 0.00 0.00 92.00002815
VARIABLE FUNDING NOTES 0.00 0.00 0.00000000
CERTIFICATES 0.00 0.00 7.99997185
VARIABLE FUNDING CERT 0.00 0.00 0.00000000
RESERVE AMOUNT DELINQUENCY
AT END OF CURRENT PERIOD: LOANS
30 - 59 DAYS DELINQUENT 88
CURRENT AMOUNT: 5,374,867.92 1,783,037.40
TARGET AMOUNT: 5,374,867.92
60 - 89 DAYS DELINQUENT 22
798,989.94
CREDIT ENHANCEMENT
90 - 179 DAYS DELINQUENT 35
828,321.28
DRAW AMOUNT: 0.00
PRIOR DRAWS NOT 180 OR MORE DELINQUENT 36
YET REIMBURSED: 0.00 918,232.59
REO LOANS 0
ADDITIONAL BALANCES 0.00
CURRENT PERIOD: 1,554,104.40
SPECIAL HAZARD AMOUNT: 2,075,429.00
FRAUD LOSS AMOUNT: 6,840,322.00
BANKRUPTCY LOSS AMOUNT: 100,000.00
MASTER SERVICER
RESIDENTIAL FUNDING CORPORATION
10 UNIVERSAL CITY PLAZA, SUITE 2100
UNIVERSAL CITY, CA 91608
(818) 753-3500
................................................................................
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11:31:08
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RESIDENTIAL FUNDING MORTGAGE SECURITIES II, INC.
HOME EQUITY LOAN TRUST 1996-RHS4
GMAC MORTGAGE CORPORATION (MASTER SERVICER)
RESIDENTIAL FUNDING CORPORATION (ADMINISTRATOR)
1996-RHS4 LLC (LIMITED LIABILITY COMPANY)
PAYMENT DATE: 07/20/98
DISTRIBUTION AMOUNTS
CLASS ORIGINAL/ PRINCIPAL INTEREST
CUSIP BEGINNING DISTRIBUTION DISTRIBUTION
BALANCE FACTOR FACTOR
PASS-THROUGH ACCEL PRIN ENDING BALANCE
RATE FACTOR FACTOR
TERM NOTES 116,693,900.00 3,286,840.27 329,917.23
43707QAE8 72,804,855.99 28.166342 2.827202
5.82625 0.00 69,518,015.72
0.000000 595.729646
VARIABLE FUNDING NOTES 0.00 0.00 0.00
0.00 0.000000 0.000000
5.82625 0.00 0.00
0.000000 0.000000
CERTIFICATES 10,147,353.78 285,813.84 29,821.15
43707QAF5 6,330,893.31 28.166342 2.938811
6.05625 0.00 6,045,079.47
0.000000 595.729645
VARIABLE FUNDING CERT 0.00 0.00 0.00
0.00 0.000000 0.000000
6.05625 0.00 0.00
0.000000 0.000000
- -----------------------------------------------------------------------------
126,841,253.78 3,572,654.11 359,738.38
79,135,749.30 0.00 75,563,095.19
=============================================================================
SECURITY COLLECTIONS
SECURITY INTEREST COLLECTIONS: 684,231.89
SECURITY PRINCIPAL COLLECTIONS: 3,572,654.11
AGGREGATE SECURITY COLLECTIONS: 4,256,886.00
MORTGAGE LOANS: ENDING WEIGHTED AVERAGE
ASSET BALANCE NET LOAN RATE
------------- ----------------
77,782,817.13 9.8354
TOTAL LOANS: 77,782,817.13 9.7007
AGGREGATE LIQUIDATION CUMULATIVE LIQUIDATION
LOSS AMOUNTS FOR THE LOSS AMOUNTS AS A
COLLECTION PERIOD: 0.00 PERCENTAGE OF POOL BALANCE:
DISTRIBUTION TO 0.119 %
RESIDUAL OWNERSHIP
INTEREST: 316,250.21
ADMINISTRATOR:
RESIDENTIAL FUNDING CORPORATION
10 UNIVERSAL CITY PLAZA, SUITE 2100
UNIVERSAL CITY, CA 91608
(818) 753-3500
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11:32:05
Page: 2
RESIDENTIAL FUNDING MORTGAGE SECURITIES II, INC.
HOME EQUITY LOAN TRUST 1996-RHS4 (ISSUER)
RESIDENTIAL FUNDING CORPORATION (MASTER SERVICER)
PAYMENT DATE: 07/20/98
ADDITIONAL INFORMATION
CLASS EXCESS REMAINING ENDING
LOSS AMOUNT UNPAID SECURITY
INTEREST PERCENTAGE
TERM NOTES 0.00 0.00 91.99995784
VARIABLE FUNDING NOTES 0.00 0.00 0.00000000
CERTIFICATES 0.00 0.00 8.00004216
VARIABLE FUNDING CERT 0.00 0.00 0.00000000
RESERVE AMOUNT DELINQUENCY
AT END OF CURRENT PERIOD: LOANS
30 - 59 DAYS DELINQUENT 270
CURRENT AMOUNT: 2,219,721.94 933,964.33
TARGET AMOUNT: 2,219,721.94
60 - 89 DAYS DELINQUENT 40
156,928.60
CREDIT ENHANCEMENT
90 - 179 DAYS DELINQUENT 20
73,767.33
DRAW AMOUNT: 0.00
PRIOR DRAWS NOT 180 OR MORE DELINQUENT 140
YET REIMBURSED: 0.00 395,182.80
REO LOANS 0
ADDITIONAL BALANCES 0.00
CURRENT PERIOD: 1,248,661.85
SPECIAL HAZARD AMOUNT: 2,075,429.00
FRAUD LOSS AMOUNT: 6,840,322.00
BANKRUPTCY LOSS AMOUNT: 100,000.00
MASTER SERVICER
RESIDENTIAL FUNDING CORPORATION
10 UNIVERSAL CITY PLAZA, SUITE 2100
UNIVERSAL CITY, CA 91608
(818) 753-3500
................................................................................
Run: 07/17/98 REPT1HC.FRG
15:06:56
Page: 1
RESIDENTIAL FUNDING CORPORATION (MASTER SERVICER)
HOME EQUITY LOAN TRUST 1997-HI1 (ISSUER)
RFMSII SERIES 1997-HI1
PAYMENT DATE: 07/27/98
DISTRIBUTION AMOUNTS
CLASS ORIGINAL/ PRINCIPAL INTEREST
CUSIP BEGINNING DISTRIBUTION DISTRIBUTION
BALANCE FACTOR FACTOR
PASS-THROUGH ACCEL PRIN ENDING BALANCE
RATE FACTOR FACTOR
A-1 NOTES 42,750,000.00 2,462,131.51 42,458.44
437184AA2 7,570,598.93 57.593720 0.993180
6.73000 228,524.41 4,879,943.01
5.345600 114.150714
A-2 NOTES 7,250,000.00 0.00 40,237.50
437184AB0 7,250,000.00 0.000000 5.550000
6.66000 0.00 7,250,000.00
0.000000 1000.000000
A-3 NOTES 26,500,000.00 0.00 148,841.67
437184AC8 26,500,000.00 0.000000 5.616667
6.74000 0.00 26,500,000.00
0.000000 1000.000000
A-4 NOTES 26,100,000.00 0.00 151,380.00
437184AD6 26,100,000.00 0.000000 5.800000
6.96000 0.00 26,100,000.00
0.000000 1000.000000
A-5 NOTES 9,450,000.00 0.00 57,093.75
437184AE4 9,450,000.00 0.000000 6.041667
7.25000 0.00 9,450,000.00
0.000000 1000.000000
A-6 NOTES 25,000,000.00 0.00 156,041.67
437184AF1 25,000,000.00 0.000000 6.241667
7.49000 0.00 25,000,000.00
0.000000 1000.000000
A-7 NOTES 12,268,000.00 0.00 79,639.77
437184AG9 12,268,000.00 0.000000 6.491667
7.79000 0.00 12,268,000.00
0.000000 1000.000000
CERTIFICATES 5,416,428.36 0.00 0.00
11,865,115.94 0.000000 0.000000
0.00000 0.00 12,093,640.35
0.000000 2190.579317
- -----------------------------------------------------------------------------
154,734,428.36 2,462,131.51 675,692.80
126,003,714.87 228,524.41 123,541,583.36
=============================================================================
SECURITY COLLECTIONS
SECURITY INTEREST COLLECTIONS: 1,539,520.31
SECURITY PRINCIPAL COLLECTIONS: 1,915,556.99
AGGREGATE SECURITY COLLECTIONS: 3,455,077.30
MORTGAGE LOANS: ENDING WEIGHTED AVERAGE
ASSET BALANCE NET LOAN RATE
------------- ----------------
TOTAL LOANS: 123,541,583.36 13.0681
FUNDING ACCOUNT
DEPOSIT AMOUNT: 0.00
NEW BALANCE: 0.00
AGGREGATE LIQUIDATION CUMULATIVE LIQUIDATION
LOSS AMOUNTS FOR THE LOSS AMOUNTS AS A
COLLECTION PERIOD: 546,574.52 PERCENTAGE OF POOL BALANCE:
DISTRIBUTION TO 5.232 %
RESIDUAL OWNERSHIP
INTEREST: 0.00
MASTER SERVICER:
RESIDENTIAL FUNDING CORPORATION
10 UNIVERSAL CITY PLAZA, SUITE 2100
UNIVERSAL CITY, CA 91608
(818) 753-3500
Run: 07/17/98 REPT2H.FRM
15:09:41
Page: 2
RESIDENTIAL FUNDING MORTGAGE SECURITIES II, INC.
HOME EQUITY LOAN TRUST 1997-HI1 (ISSUER)
RESIDENTIAL FUNDING CORPORATION (MASTER SERVICER)
PAYMENT DATE: 07/27/98
ADDITIONAL INFORMATION
CLASS EXCESS REMAINING ENDING
LOSS AMOUNT UNPAID SECURITY
INTEREST PERCENTAGE
A-1 NOTES 0.00 0.00 3.95004085
A-2 NOTES 0.00 0.00 5.86846939
A-3 NOTES 0.00 0.00 21.45026742
A-4 NOTES 0.00 0.00 21.12648979
A-5 NOTES 0.00 0.00 7.64924630
A-6 NOTES 0.00 0.00 20.23610134
A-7 NOTES 0.00 0.00 9.93025965
CERTIFICATES 0.00 0.00 9.78912527
RESERVE AMOUNT DELINQUENCY
AT END OF CURRENT PERIOD: LOANS
30 - 59 DAYS DELINQUENT 61
CURRENT AMOUNT: 12,093,640.35 1,901,554.68
TARGET AMOUNT: 13,926,098.55
60 - 89 DAYS DELINQUENT 25
753,600.57
CREDIT ENHANCEMENT
90 - 179 DAYS DELINQUENT 83
2,760,590.20
DRAW AMOUNT: 0.00
PRIOR DRAWS NOT 180 OR MORE DELINQUENT 0
YET REIMBURSED: 0.00 0.00
REO LOANS 0
ADDITIONAL BALANCES 0.00
CURRENT PERIOD: 0.00
SPECIAL HAZARD AMOUNT: 2,075,429.00
FRAUD LOSS AMOUNT: 6,840,322.00
BANKRUPTCY LOSS AMOUNT: 100,000.00
MASTER SERVICER
RESIDENTIAL FUNDING CORPORATION
10 UNIVERSAL CITY PLAZA, SUITE 2100
UNIVERSAL CITY, CA 91608
(818) 753-3500
................................................................................
Run: 07/14/98 REPT1HC.FRG
16:58:42
Page: 1
RESIDENTIAL FUNDING CORPORATION (MASTER SERVICER)
HOME EQUITY LOAN TRUST 1997-HS2 (ISSUER)
RFMSII SERIES 1997-HS2
PAYMENT DATE: 07/20/98
DISTRIBUTION AMOUNTS
CLASS ORIGINAL/ PRINCIPAL INTEREST
CUSIP BEGINNING DISTRIBUTION DISTRIBUTION
BALANCE FACTOR FACTOR
PASS-THROUGH ACCEL PRIN ENDING BALANCE
RATE FACTOR FACTOR
TERM NOTES 300,402,933.00 9,213,500.15 827,142.38
76110VAP3 183,001,725.00 30.670473 2.753443
5.81125 0.00 173,788,224.85
0.000000 578.517071
VARIABLE FUNDING NOTES 0.00 0.00 0.00
5.81125 0.00 0.00
CERTIFICATES 0.00 0.00 567,734.19
0.00000 0.00 0.00
- -----------------------------------------------------------------------------
300,402,933.00 9,213,500.15 1,394,876.57
183,001,725.00 0.00 173,788,224.85
=============================================================================
SECURITY COLLECTIONS
SECURITY INTEREST COLLECTIONS: 1,719,808.92
SECURITY PRINCIPAL COLLECTIONS: 8,912,255.70
AGGREGATE SECURITY COLLECTIONS: 10,632,064.62
MORTGAGE LOANS: ENDING WEIGHTED AVERAGE
ASSET BALANCE NET LOAN RATE
------------- ----------------
TOTAL LOANS: 178,294,268.85 10.5004
FUNDING ACCOUNT
DEPOSIT AMOUNT: 0.00
NEW BALANCE: 0.00
AGGREGATE LIQUIDATION CUMULATIVE LIQUIDATION
LOSS AMOUNTS FOR THE LOSS AMOUNTS AS A
COLLECTION PERIOD: 303,582.15 PERCENTAGE OF POOL BALANCE:
DISTRIBUTION TO 0.803 %
RESIDUAL OWNERSHIP
INTEREST: 0.00
MASTER SERVICER:
RESIDENTIAL FUNDING CORPORATION
10 UNIVERSAL CITY PLAZA, SUITE 2100
UNIVERSAL CITY, CA 91608
(818) 753-3500
Run: 07/14/98 REPT2H.FRM
17:00:04
Page: 2
RESIDENTIAL FUNDING MORTGAGE SECURITIES II, INC.
HOME EQUITY LOAN TRUST 1997-HS2 (ISSUER)
RESIDENTIAL FUNDING CORPORATION (MASTER SERVICER)
PAYMENT DATE: 07/20/98
ADDITIONAL INFORMATION
CLASS EXCESS REMAINING ENDING
LOSS AMOUNT UNPAID SECURITY
INTEREST PERCENTAGE
TERM NOTES 0.00 0.00 100.00000000
VARIABLE FUNDING NOTES 0.00 0.00 0.00000000
CERTIFICATES 0.00 0.00 0.00000000
RESERVE AMOUNT DELINQUENCY
AT END OF CURRENT PERIOD: LOANS
30 - 59 DAYS DELINQUENT 85
CURRENT AMOUNT: 4,506,044.00 2,219,598.73
TARGET AMOUNT: 4,506,044.00
60 - 89 DAYS DELINQUENT 11
225,516.38
CREDIT ENHANCEMENT
90 - 179 DAYS DELINQUENT 34
1,232,733.57
DRAW AMOUNT: 0.00
PRIOR DRAWS NOT 180 OR MORE DELINQUENT 48
YET REIMBURSED: 0.00 1,325,433.92
REO LOANS 0
ADDITIONAL BALANCES 0.00
CURRENT PERIOD: 2,066,162.22
SPECIAL HAZARD AMOUNT: 2,075,429.00
FRAUD LOSS AMOUNT: 6,840,322.00
BANKRUPTCY LOSS AMOUNT: 100,000.00
MASTER SERVICER
RESIDENTIAL FUNDING CORPORATION
10 UNIVERSAL CITY PLAZA, SUITE 2100
UNIVERSAL CITY, CA 91608
(818) 753-3500
................................................................................
Run: 07/17/98 REPT1HC.FRG
16:06:28
Page: 1
RESIDENTIAL FUNDING CORPORATION (MASTER SERVICER)
HOME EQUITY LOAN TRUST 1997-HI3 (ISSUER)
RFMSII SERIES 1997-HI3
PAYMENT DATE: 07/27/98
DISTRIBUTION AMOUNTS
CLASS ORIGINAL/ PRINCIPAL INTEREST
CUSIP BEGINNING DISTRIBUTION DISTRIBUTION
BALANCE FACTOR FACTOR
PASS-THROUGH ACCEL PRIN ENDING BALANCE
RATE FACTOR FACTOR
A-PV NOTES 100,000,000.00 1,971,528.78 508,705.71
437184AJ3 85,020,452.68 19.715288 5.087057
7.18000 35,472.32 83,013,451.58
0.354723 830.134516
A-PB NOTES 122,765,141.00 2,420,350.09 624,513.28
437184AH7 104,375,478.96 19.715288 5.087057
7.18000 43,547.65 101,911,581.22
0.354723 830.134519
CERTIFICATES 8,079,564.43 0.00 0.00
14,338,506.11 0.000000 0.000000
0.00000 0.00 14,417,526.08
0.000000 1774.663255
- -----------------------------------------------------------------------------
230,844,705.43 4,391,878.87 1,133,218.99
203,734,437.75 79,019.97 199,342,558.88
=============================================================================
SECURITY COLLECTIONS
SECURITY INTEREST COLLECTIONS: 2,153,743.92
SECURITY PRINCIPAL COLLECTIONS: 3,540,053.56
AGGREGATE SECURITY COLLECTIONS: 5,693,797.48
MORTGAGE LOANS: ENDING WEIGHTED AVERAGE
ASSET BALANCE NET LOAN RATE
------------- ----------------
TOTAL LOANS: 199,342,558.88 12.8320
FUNDING ACCOUNT
DEPOSIT AMOUNT: 0.00
NEW BALANCE: 0.00
AGGREGATE LIQUIDATION CUMULATIVE LIQUIDATION
LOSS AMOUNTS FOR THE LOSS AMOUNTS AS A
COLLECTION PERIOD: 851,825.31 PERCENTAGE OF POOL BALANCE:
DISTRIBUTION TO 2.977 %
RESIDUAL OWNERSHIP
INTEREST: 0.00
MASTER SERVICER:
RESIDENTIAL FUNDING CORPORATION
10 UNIVERSAL CITY PLAZA, SUITE 2100
UNIVERSAL CITY, CA 91608
(818) 753-3500
Run: 07/17/98 REPT2H.FRM
16:07:32
Page: 2
RESIDENTIAL FUNDING MORTGAGE SECURITIES II, INC.
HOME EQUITY LOAN TRUST 1997-HI3 (ISSUER)
RESIDENTIAL FUNDING CORPORATION (MASTER SERVICER)
PAYMENT DATE: 07/27/98
ADDITIONAL INFORMATION
CLASS EXCESS REMAINING ENDING
LOSS AMOUNT UNPAID SECURITY
INTEREST PERCENTAGE
A-PV NOTES 0.00 0.00 41.64361692
A-PB NOTES 0.00 0.00 51.12384520
CERTIFICATES 0.00 0.00 7.23253788
RESERVE AMOUNT DELINQUENCY
AT END OF CURRENT PERIOD: LOANS
30 - 59 DAYS DELINQUENT 87
CURRENT AMOUNT: 14,417,526.08 2,890,580.60
TARGET AMOUNT: 20,776,023.49
60 - 89 DAYS DELINQUENT 42
1,401,220.06
CREDIT ENHANCEMENT
90 - 179 DAYS DELINQUENT 81
3,005,188.09
DRAW AMOUNT: 0.00
PRIOR DRAWS NOT 180 OR MORE DELINQUENT 0
YET REIMBURSED: 0.00 0.00
REO LOANS 0
ADDITIONAL BALANCES 0.00
CURRENT PERIOD: 0.00
SPECIAL HAZARD AMOUNT: 2,075,429.00
FRAUD LOSS AMOUNT: 6,840,322.00
BANKRUPTCY LOSS AMOUNT: 100,000.00
MASTER SERVICER
RESIDENTIAL FUNDING CORPORATION
10 UNIVERSAL CITY PLAZA, SUITE 2100
UNIVERSAL CITY, CA 91608
(818) 753-3500
................................................................................
Run: 08/03/98 REPT1HE.FRG
09:19:01
Page: 1
RESIDENTIAL FUNDING MORTGAGE SECURITIES II, INC.
HOME EQUITY LOAN TRUST 1997-GMACM4
GMAC MORTGAGE CORPORATION (MASTER SERVICER)
RESIDENTIAL FUNDING CORPORATION (ADMINISTRATOR)
1997-GMACM4 LLC (LIMITED LIABILITY COMPANY)
PAYMENT DATE: 07/20/98
DISTRIBUTION AMOUNTS
CLASS ORIGINAL/ PRINCIPAL INTEREST
CUSIP BEGINNING DISTRIBUTION DISTRIBUTION
BALANCE FACTOR FACTOR
PASS-THROUGH ACCEL PRIN ENDING BALANCE
RATE FACTOR FACTOR
TERM NOTES 194,000,000.00 5,982,705.79 671,385.00
43707QAG3 147,904,783.38 30.838690 3.460747
5.83625 0.00 141,922,077.59
0.000000 731.557101
VARIABLE FUNDING NOTES 0.00 0.00 0.00
0.00 0.000000 0.000000
5.83625 0.00 0.00
0.000000 0.000000
CERTIFICATES 62,173.00 0.00 561,644.39
3,396,088.03 0.000000 9033.573899
0.00000 0.00 3,396,088.03
0.000000 731.557101
VARIABLE FUNDING CERT 0.00 0.00 0.00
0.00 0.000000 0.000000
0.00000 0.00 0.00
0.000000 0.000000
- -----------------------------------------------------------------------------
194,062,173.00 5,982,705.79 1,233,029.39
151,300,871.41 0.00 145,318,165.62
=============================================================================
SECURITY COLLECTIONS
SECURITY INTEREST COLLECTIONS: 1,257,543.78
SECURITY PRINCIPAL COLLECTIONS: 5,973,321.49
AGGREGATE SECURITY COLLECTIONS: 7,230,865.27
MORTGAGE LOANS: ENDING WEIGHTED AVERAGE
ASSET BALANCE NET LOAN RATE
------------- ----------------
TOTAL LOANS: 145,318,165.62 9.3300
AGGREGATE LIQUIDATION CUMULATIVE LIQUIDATION
LOSS AMOUNTS FOR THE LOSS AMOUNTS AS A
COLLECTION PERIOD: 9,384.30 PERCENTAGE OF POOL BALANCE:
DISTRIBUTION TO 0.019 %
RESIDUAL OWNERSHIP
INTEREST: 561,644.39
ADMINISTRATOR:
RESIDENTIAL FUNDING CORPORATION
10 UNIVERSAL CITY PLAZA, SUITE 2100
UNIVERSAL CITY, CA 91608
(818) 753-3500
Run: 08/03/98 REPT2H.FRM
09:20:35
Page: 2
RESIDENTIAL FUNDING MORTGAGE SECURITIES II, INC.
HOME EQUITY LOAN TRUST 1997-GMACM4 (ISSUER)
RESIDENTIAL FUNDING CORPORATION (MASTER SERVICER)
PAYMENT DATE: 07/20/98
ADDITIONAL INFORMATION
CLASS EXCESS REMAINING ENDING
LOSS AMOUNT UNPAID SECURITY
INTEREST PERCENTAGE
TERM NOTES 0.00 0.00 97.66299828
VARIABLE FUNDING NOTES 0.00 0.00 0.00000000
CERTIFICATES 0.00 0.00 2.33700172
VARIABLE FUNDING CERT 0.00 0.00 0.00000000
RESERVE AMOUNT DELINQUENCY
AT END OF CURRENT PERIOD: LOANS
30 - 59 DAYS DELINQUENT 37
CURRENT AMOUNT: 3,396,088.03 876,715.03
TARGET AMOUNT: 3,396,088.03
60 - 89 DAYS DELINQUENT 4
106,552.93
CREDIT ENHANCEMENT
90 - 179 DAYS DELINQUENT 1
22,289.49
DRAW AMOUNT: 0.00
PRIOR DRAWS NOT 180 OR MORE DELINQUENT 17
YET REIMBURSED: 0.00 511,587.79
REO LOANS 0
ADDITIONAL BALANCES 0.00
CURRENT PERIOD: 2,787,362.89
SPECIAL HAZARD AMOUNT: 2,075,429.00
FRAUD LOSS AMOUNT: 6,840,322.00
BANKRUPTCY LOSS AMOUNT: 100,000.00
MASTER SERVICER
RESIDENTIAL FUNDING CORPORATION
10 UNIVERSAL CITY PLAZA, SUITE 2100
UNIVERSAL CITY, CA 91608
(818) 753-3500
................................................................................
Run: 07/21/98 REPT1HC.FRG
16:20:07
Page: 1
RESIDENTIAL FUNDING CORPORATION (MASTER SERVICER)
HOME EQUITY LOAN TRUST 1997-HS5 (ISSUER)
RFMSII SERIES 1997-HS5
PAYMENT DATE: 07/27/98
DISTRIBUTION AMOUNTS
CLASS ORIGINAL/ PRINCIPAL INTEREST
CUSIP BEGINNING DISTRIBUTION DISTRIBUTION
BALANCE FACTOR FACTOR
PASS-THROUGH ACCEL PRIN ENDING BALANCE
RATE FACTOR FACTOR
A-1 Certificates 43,000,000.00 0.00 0.00
76110VAQ1 0.00 0.000000 0.000000
6.88000 0.00 0.00
0.000000 0.000000
A-2 Certificates 16,800,000.00 5,884,819.46 32,170.35
76110VAR9 5,884,819.46 350.286873 1.914902
6.56000 0.00 0.00
0.000000 0.000000
A-3 Certificates 55,800,000.00 3,433,223.31 302,715.00
76110VAS7 55,800,000.00 61.527299 5.425000
6.51000 0.00 52,366,776.69
0.000000 938.472701
A-4 Certificates 10,600,000.00 0.00 57,416.67
76110VAT5 10,600,000.00 0.000000 5.416667
6.50000 0.00 10,600,000.00
0.000000 1000.000000
A-5 Certificates 18,100,000.00 0.00 100,605.83
76110VAU2 18,100,000.00 0.000000 5.558333
6.67000 0.00 18,100,000.00
0.000000 1000.000000
A-6 Certificates 8,300,000.00 0.00 46,756.67
76110VAV0 8,300,000.00 0.000000 5.633334
6.76000 0.00 8,300,000.00
0.000000 1000.000000
A-7 Certificates 18,778,000.00 0.00 109,538.33
76110VAW8 18,778,000.00 0.000000 5.833333
7.00000 0.00 18,778,000.00
0.000000 1000.000000
A-L1 Certificates 20,288,000.00 0.00 113,781.87
76110VAX6 20,288,000.00 0.000000 5.608333
6.73000 0.00 20,288,000.00
0.000000 1000.000000
A-L2 Certificates 1,220,000.00 0.00 6,994.67
76110VAY4 1,220,000.00 0.000000 5.733336
6.88000 0.00 1,220,000.00
0.000000 1000.000000
IO Certificates 0.00 0.00 135,253.33
76110VAZ1
8.00000 0.00 0.00
M-1 Certificates 19,518,000.00 0.00 114,017.65
76110VBA5 19,518,000.00 0.000000 5.841667
7.01000 0.00 19,518,000.00
0.000000 1000.000000
M-2 Certificates 9,185,000.00 0.00 54,880.38
76110VBB3 9,185,000.00 0.000000 5.975001
7.17000 0.00 9,185,000.00
0.000000 1000.000000
B-1 Certificates 8,037,000.00 0.00 50,231.25
76110VBC1 8,037,000.00 0.000000 6.250000
7.50000 0.00 8,037,000.00
0.000000 1000.000000
R-I Certificates 0.00 0.00 0.00
0.00000 0.00 0.00
R-II Certificates 573.80 454,043.79 0.00
4,592,531.00 0.000000 0.000000
0.00000 0.00 4,592,531.00
0.000000 0.000000
- -----------------------------------------------------------------------------
229,626,573.80 9,772,086.56 1,124,362.00
180,303,350.46 0.00 170,985,307.69
=============================================================================
SECURITY COLLECTIONS
SECURITY INTEREST COLLECTIONS: 1,701,997.20
SECURITY PRINCIPAL COLLECTIONS: 9,194,451.35
AGGREGATE SECURITY COLLECTIONS: 10,896,448.55
MORTGAGE LOANS: ENDING WEIGHTED AVERAGE
ASSET BALANCE NET LOAN RATE
------------- ----------------
TOTAL LOANS: 170,985,307.69 11.0452
FUNDING ACCOUNT
DEPOSIT AMOUNT: 0.00
NEW BALANCE: 0.00
AGGREGATE LIQUIDATION CUMULATIVE LIQUIDATION
LOSS AMOUNTS FOR THE LOSS AMOUNTS AS A
COLLECTION PERIOD: 123,591.42 PERCENTAGE OF POOL BALANCE:
DISTRIBUTION TO 0.323 %
RESIDUAL OWNERSHIP
INTEREST: 0.00
MASTER SERVICER:
RESIDENTIAL FUNDING CORPORATION
10 UNIVERSAL CITY PLAZA, SUITE 2100
UNIVERSAL CITY, CA 91608
(818) 753-3500
Run: 07/21/98 REPT2H.FRM
16:20:51
Page: 2
RESIDENTIAL FUNDING MORTGAGE SECURITIES II, INC.
HOME EQUITY LOAN TRUST 1997-HS5 (ISSUER)
RESIDENTIAL FUNDING CORPORATION (MASTER SERVICER)
PAYMENT DATE: 07/27/98
ADDITIONAL INFORMATION
CLASS EXCESS REMAINING ENDING
LOSS AMOUNT UNPAID SECURITY
INTEREST PERCENTAGE
A-1 Certificates 0.00 0.00 0.00000000
A-2 Certificates 0.00 0.00 0.00000000
A-3 Certificates 0.00 0.00 30.62647744
A-4 Certificates 0.00 0.00 6.19936306
A-5 Certificates 0.00 0.00 10.58570484
A-6 Certificates 0.00 0.00 4.85421824
A-7 Certificates 0.00 0.00 10.98223014
A-L1 Certificates 0.00 0.00 11.86534696
A-L2 Certificates 0.00 0.00 0.71351160
IO Certificates 0.00 0.00 0.00000000
M-1 Certificates 0.00 0.00 11.41501587
M-2 Certificates 0.00 0.00 5.37180657
B-1 Certificates 0.00 0.00 4.70040386
R-I Certificates 0.00 0.00 0.00000000
R-II Certificates 0.00 0.00 2.68592142
RESERVE AMOUNT DELINQUENCY
AT END OF CURRENT PERIOD: LOANS
30 - 59 DAYS DELINQUENT 0
CURRENT AMOUNT: 4,592,531.00 0.00
TARGET AMOUNT: 4,592,531.00
60 - 89 DAYS DELINQUENT 8
143,584.17
CREDIT ENHANCEMENT
90 - 179 DAYS DELINQUENT 5
104,615.16
DRAW AMOUNT: 0.00
PRIOR DRAWS NOT 180 OR MORE DELINQUENT 0
YET REIMBURSED: 0.00 0.00
REO LOANS 0
ADDITIONAL BALANCES 0.00
CURRENT PERIOD: 0.00
SPECIAL HAZARD AMOUNT: 2,075,429.00
FRAUD LOSS AMOUNT: 6,840,322.00
BANKRUPTCY LOSS AMOUNT: 100,000.00
MASTER SERVICER
RESIDENTIAL FUNDING CORPORATION
10 UNIVERSAL CITY PLAZA, SUITE 2100
UNIVERSAL CITY, CA 91608
(818) 753-3500
................................................................................
Run: 07/10/98 REPT1HC.FRG
16:08:07
Page: 1
RESIDENTIAL FUNDING CORPORATION (MASTER SERVICER)
HOME EQUITY LOAN TRUST 1998-HS1 (ISSUER)
RFMSII SERIES 1998-HS1
PAYMENT DATE: 07/20/98
DISTRIBUTION AMOUNTS
CLASS ORIGINAL/ PRINCIPAL INTEREST
CUSIP BEGINNING DISTRIBUTION DISTRIBUTION
BALANCE FACTOR FACTOR
PASS-THROUGH ACCEL PRIN ENDING BALANCE
RATE FACTOR FACTOR
TERM NOTES 517,879,000.00 19,282,950.44 1,928,228.80
76110VBD9 424,784,975.22 37.234471 3.723319
5.83625 1,775,285.16 403,726,739.62
3.427992 779.577352
VARIABLE FUNDING NOTES 0.00 0.00 0.00
5.83625 0.00 0.00
CERTIFICATES 0.00 0.00 0.00
0.00000 0.00 0.00
- -----------------------------------------------------------------------------
517,879,000.00 19,282,950.44 1,928,228.80
424,784,975.22 1,775,285.16 403,726,739.62
=============================================================================
SECURITY COLLECTIONS
SECURITY INTEREST COLLECTIONS: 3,792,383.82
SECURITY PRINCIPAL COLLECTIONS: 19,240,298.60
AGGREGATE SECURITY COLLECTIONS: 23,032,682.42
MORTGAGE LOANS: ENDING WEIGHTED AVERAGE
ASSET BALANCE NET LOAN RATE
------------- ----------------
TOTAL LOANS: 405,965,058.69 10.2441
FUNDING ACCOUNT
DEPOSIT AMOUNT: 0.00
NEW BALANCE: 0.00
AGGREGATE LIQUIDATION CUMULATIVE LIQUIDATION
LOSS AMOUNTS FOR THE LOSS AMOUNTS AS A
COLLECTION PERIOD: 42,851.49 PERCENTAGE OF POOL BALANCE:
DISTRIBUTION TO 0.037 %
RESIDUAL OWNERSHIP
INTEREST: 0.00
MASTER SERVICER:
RESIDENTIAL FUNDING CORPORATION
10 UNIVERSAL CITY PLAZA, SUITE 2100
UNIVERSAL CITY, CA 91608
(818) 753-3500
Run: 07/10/98 REPT2H.FRM
16:09:35
Page: 2
RESIDENTIAL FUNDING MORTGAGE SECURITIES II, INC.
HOME EQUITY LOAN TRUST 1998-HS1 (ISSUER)
RESIDENTIAL FUNDING CORPORATION (MASTER SERVICER)
PAYMENT DATE: 07/20/98
ADDITIONAL INFORMATION
CLASS EXCESS REMAINING ENDING
LOSS AMOUNT UNPAID SECURITY
INTEREST PERCENTAGE
TERM NOTES 0.00 0.00 100.00000000
VARIABLE FUNDING NOTES 0.00 0.00 0.00000000
CERTIFICATES 0.00 0.00 0.00000000
RESERVE AMOUNT DELINQUENCY
AT END OF CURRENT PERIOD: LOANS
30 - 59 DAYS DELINQUENT 79
CURRENT AMOUNT: 2,238,319.07 2,029,432.57
TARGET AMOUNT: 7,653,394.35
60 - 89 DAYS DELINQUENT 8
189,126.60
CREDIT ENHANCEMENT
90 - 179 DAYS DELINQUENT 15
573,270.65
DRAW AMOUNT: 0.00
PRIOR DRAWS NOT 180 OR MORE DELINQUENT 4
YET REIMBURSED: 0.00 62,737.49
REO LOANS 0
ADDITIONAL BALANCES 0.00
CURRENT PERIOD: 5,473,046.16
SPECIAL HAZARD AMOUNT: 2,075,429.00
FRAUD LOSS AMOUNT: 6,840,322.00
BANKRUPTCY LOSS AMOUNT: 100,000.00
MASTER SERVICER
RESIDENTIAL FUNDING CORPORATION
10 UNIVERSAL CITY PLAZA, SUITE 2100
UNIVERSAL CITY, CA 91608
(818) 753-3500
................................................................................
Run: 07/20/98 REPT1HC.FRG
11:50:18
Page: 1
RESIDENTIAL FUNDING CORPORATION (MASTER SERVICER)
HOME EQUITY LOAN TRUST 1998-HI2 (ISSUER)
RFMSII SERIES 1998-HI2
PAYMENT DATE: 07/27/98
DISTRIBUTION AMOUNTS
CLASS ORIGINAL/ PRINCIPAL INTEREST
CUSIP BEGINNING DISTRIBUTION DISTRIBUTION
BALANCE FACTOR FACTOR
PASS-THROUGH ACCEL PRIN ENDING BALANCE
RATE FACTOR FACTOR
A-1 Notes 134,680,000.00 4,460,415.67 617,998.82
76110VBE7 134,680,000.00 33.118619 4.588646
5.69625 0.00 130,219,584.33
0.000000 966.881381
A-2 Notes 86,990,000.00 0.00 75,995.43
76110VBF4 86,990,000.00 0.000000 0.873611
6.29000 0.00 86,990,000.00
0.000000 1000.000000
A-3 Notes 23,280,000.00 0.00 20,467.00
76110VBG2 23,280,000.00 0.000000 0.879167
6.33000 0.00 23,280,000.00
0.000000 1000.000000
A-4 Notes 21,390,000.00 0.00 19,637.21
76110VBH0 21,390,000.00 0.000000 0.918056
6.61000 0.00 21,390,000.00
0.000000 1000.000000
A-5 Notes 32,620,000.00 0.00 30,853.08
76110VBJ6 32,620,000.00 0.000000 0.945833
6.81000 0.00 32,620,000.00
0.000000 1000.000000
A-6 Notes 0.00 0.00 34,722.22
76110VBK3
5.00000 0.00 0.00
M-1 Notes 40,400,000.00 0.00 38,043.33
76110VBL1 40,400,000.00 0.000000 0.941667
6.78000 0.00 40,400,000.00
0.000000 1000.000000
M-2 Notes 28,280,000.00 0.00 28,162.17
76110VBM9 28,280,000.00 0.000000 0.995833
7.17000 0.00 28,280,000.00
0.000000 1000.000000
B-1 Notes 24,240,000.00 0.00 26,967.00
76110VBN7 24,240,000.00 0.000000 1.112500
8.01000 0.00 24,240,000.00
0.000000 1000.000000
B-2 Notes 12,120,000.00 0.00 13,887.50
76110VBP2 12,120,000.00 0.000000 1.145833
8.25000 0.00 12,120,000.00
0.000000 1000.000000
- -----------------------------------------------------------------------------
404,000,000.00 4,460,415.67 906,733.76
404,000,000.00 0.00 399,539,584.33
=============================================================================
SECURITY COLLECTIONS
SECURITY INTEREST COLLECTIONS: 1,272,689.85
SECURITY PRINCIPAL COLLECTIONS: 4,094,459.59
AGGREGATE SECURITY COLLECTIONS: 5,367,149.44
MORTGAGE LOANS: ENDING WEIGHTED AVERAGE
ASSET BALANCE NET LOAN RATE
------------- ----------------
TOTAL LOANS: 396,123,796.12 13.2288
FUNDING ACCOUNT
DEPOSIT AMOUNT: 0.00
NEW BALANCE: 0.00
AGGREGATE LIQUIDATION CUMULATIVE LIQUIDATION
LOSS AMOUNTS FOR THE LOSS AMOUNTS AS A
COLLECTION PERIOD: 0.00 PERCENTAGE OF POOL BALANCE:
DISTRIBUTION TO 0.000 %
RESIDUAL OWNERSHIP
INTEREST: 0.00
MASTER SERVICER:
RESIDENTIAL FUNDING CORPORATION
10 UNIVERSAL CITY PLAZA, SUITE 2100
UNIVERSAL CITY, CA 91608
(818) 753-3500
Run: 07/20/98 REPT2H.FRM
11:51:34
Page: 2
RESIDENTIAL FUNDING MORTGAGE SECURITIES II, INC.
HOME EQUITY LOAN TRUST 1998-HI2 (ISSUER)
RESIDENTIAL FUNDING CORPORATION (MASTER SERVICER)
PAYMENT DATE: 07/27/98
ADDITIONAL INFORMATION
CLASS EXCESS REMAINING ENDING
LOSS AMOUNT UNPAID SECURITY
INTEREST PERCENTAGE
A-1 Notes 0.00 0.00 32.59241122
A-2 Notes 0.00 0.00 21.77256107
A-3 Notes 0.00 0.00 5.82670677
A-4 Notes 0.00 0.00 5.35366228
A-5 Notes 0.00 0.00 8.16439754
A-6 Notes 0.00 0.00 0.00000000
M-1 Notes 0.00 0.00 10.11163889
M-2 Notes 0.00 0.00 7.07814722
B-1 Notes 0.00 0.00 6.06698334
B-2 Notes 0.00 0.00 3.03349167
RESERVE AMOUNT DELINQUENCY
AT END OF CURRENT PERIOD: LOANS
30 - 59 DAYS DELINQUENT 127
CURRENT AMOUNT: -3,415,788.21 3,878,787.59
TARGET AMOUNT: 14,007,639.07
60 - 89 DAYS DELINQUENT 3
131,468.22
CREDIT ENHANCEMENT
90 - 179 DAYS DELINQUENT 2
63,955.03
DRAW AMOUNT: 0.00
PRIOR DRAWS NOT 180 OR MORE DELINQUENT 1
YET REIMBURSED: 0.00 37,934.68
REO LOANS 0
ADDITIONAL BALANCES 0.00
CURRENT PERIOD: 0.00
SPECIAL HAZARD AMOUNT: 2,075,429.00
FRAUD LOSS AMOUNT: 6,840,322.00
BANKRUPTCY LOSS AMOUNT: 100,000.00
MASTER SERVICER
RESIDENTIAL FUNDING CORPORATION
10 UNIVERSAL CITY PLAZA, SUITE 2100
UNIVERSAL CITY, CA 91608
(818) 753-3500
................................................................................
<PAGE>
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned thereunto duly authorized.
RESIDENTIAL FUNDING MORTGAGE
SECURITIES II, INC.
By: /s/Davee Olson
Name: Davee Olson
Title: Chief Financial Officer
Dated July 25, 1998
<PAGE>
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned thereunto duly authorized.
RESIDENTIAL FUNDING MORTGAGE
SECURITIES II, INC.
By:
Name: Davee Olson
Title: Chief Financial Officer
Dated: July 25, 1998
<PAGE>
