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Previous: VANDERBILT MORT & FIN INC MAN HO CO SE SU PA TH CE SE 1995-A, 15-15D, 1996-08-20 |
Next: M FUND INC, N-30D, 1996-08-20 |
<PAGE> 1
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the
Securities and Exchange Act of 1934
Date of Report (Date of earliest event reported): June 7, 1996
Vanderbilt Mortgage and Finance, Inc.
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(Exact name of registrant as specified in its charter)
Tennessee
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(State or other jurisdiction of incorporation or organization)
33-88238 62-0997810
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(Commission File Number) (IRS Employer Identification No.)
Vanderbilt Mortgage and Finance, Inc.
4726 Airport Highway
Louisville, TN 37777
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(Address of principal executive offices and zip code)
Registrant's telephone number, including area code: 615-970-7200
Not Applicable
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(Former name or former address, if changed since last report)
<PAGE> 2
Item 5. Other Events
On June 7, 1996, Chemical Bank, as Trustee, made the monthly
distribution to the holders of the Vanderbilt Mortgage and Finance, Inc.
Manufactured Housing Contract Senior/Subordinated Pass Through Certificates,
Series 1995A.
Item 7. Financial Statements and Exhibits
(c) Exhibits.
The following are filed herewith. The exhibit
numbers correspond with Item 601(b) of Regulation S-K.
<TABLE>
<CAPTION>
Exhibit No. Description Page
----------- ----------- ----
<S> <C> <C>
28 Monthly Report delivered by 3
the Trustee to Certificateholders
in connection with distribution
on June 7, 1996.
</TABLE>
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 hereunto duly authorized.
VANDERBILT MORTGAGE AND FINANCE, INC.
as Servicer
By: /s/ David R. Jordan
Name: David R. Jordan
Title: Controller
Dated: June 7, 1996
<PAGE> 3
Chemical Bank, Trustee
Manufactured Housing Contracts Determination Date: 03-Jun-96
Senior/Subordinated Pass-Through Remittance Date 07-Jun-96
Certificates Series 1995A For the Period Ended: 25-May-96
Information for Clauses (a) through (n), Section 7.01
<TABLE>
<CAPTION>
Class A-1 Class A-2 Class A-3 Class A-4
<S> <C> <C> <C> <C>
(a) Class A and B Distribution Amounts 2,603,524.70 262,196.00 156,471.66 245,898.13
(b) Formula Principal Distribution Amount
(a) Scheduled Principal Due 646,604.18
(b) Partial Prepayments Received 52,412.76
(c) Principal Payments in Full 1,808,719.13
(d) Liquidated Contract Sch. Balance 0.00
(e) Section 3.05 Purchase Sch. Balance 0.00
(f) Previously Undistributed Shortfalls
in (a) through (e) 0.00
------------- ------------- ------------- -------------
Total Principal Distribution 2,507,735.07 0.00 0.00 0.00
(c) Interest Distribution 95,788.63 252,196.00 156,471.88 245,898.13
Unpaid Interest Shortfall 0.00 0.00 0.00 0.00
------------- ------------- ------------- -------------
Total Interest Shortfall 95,788.63 252,196.00 156,471.88 245,898.13
(d) Beg. Class A and B Principal Balance 16,076,413.97 41,536,000.00 24,150,000.00 35,767,000.00
Less: Principal Distribution 2,507,736.07 0.00 0.00 0.00
------------- ------------- ------------- -------------
Rem. Class A and B Principal Balance 13,566,677.90 41,536,000.00 24,150,000.00 36,767,000.00
(e) Fees Due Services
Monthly Servicing Fee 167,947.31
Section 8.06 Reimbursement Amount 0.00
Section 8.06 Reimbursement Amount 50,239.01
Reimbursement Fees 0.00
-------------
Total Fees Due Servicer 218,186.32
No. of Unpaid Principal
(f) Delinquency Contracts Balance
31-59 Days Delinquent 173 4,009,427
60-89 Days Delinquent 31 861,405
90+ Days Delinquent 64 1,555,062
(g) Section 3.05 Repurchases 0.00
(i) Class R Distribution Amount 147,475.72
Repossession Profits 0.00
(j) Principal Balance of Contracts
in Repossession 0.00
(k) Aggregate Net Liquidation Losses 0.00
(i) (x) Class B-2 Formula Distribution Amt. 71,250.00
(y) Remaining Amount Available 218,725.72
-------------
Amount of (x) over (y) 0.00
(m) Class B-2 Liquidation Loss Amount 0.00
(n) Guarantee Payment 0.00
<CAPTION>
Class A-5 Class A-6 Class B-1 Class B-2
<S> <C> <C> <C> <C>
(a) Class A and B Distribution Amounts
(b) Formula Principal Distribution Amount
(a) Scheduled Principal Due
(b) Partial Prepayments Received
(c) Principal Payments in Full
(d) Liquidated Contract Sch. Balance
(e) Section 3.05 Purchase Sch. Balance
(f) Previously Undistributed Shortfalls
in (a) through (e)
------------- ------------- ------------- -------------
Total Principal Distribution 0.00 0.00 0.00 0.00
(c) Interest Distribution 119,700.00 67,687.50 55,891.67 71,250.00
Unpaid Interest Shortfall 0.00 0.00 0.00 0.00
------------- ------------- ------------- -------------
Total Interest Shortfall 119,700.00 67,687.50 55,891.67 71,250.00
(d) Beg. Class A and B Principal Balance 17,100,000.00 9,500,000.00 7,600,000.00 9,500,000.00
Less: Principal Distribution 0.00 0.00 0.00 0.00
------------- ------------- ------------- -------------
Rem. Class A and B Principal Balance 17,100,000.00 9,500,000.00 7,600,000.00 9,500,000.00
(h) Pool Factor Original Balance Rate
Class A-1 0.30255486 44,847,000.00 7.150%
Class A-2 1.00000000 41,536,000.00 7.575%
Class A-3 1.00000000 24,150,000.00 7.775%
Class A-4 1.00000000 35,767,000.00 8.250%
Class A-5 1.00000000 17,100,000.00 8.400%
Class A-6 1.00000000 9,500,000.00 8.550%
Class B-1 1.00000000 7,600,000.00 8.825%
Class B-2 1.00000000 9,500,000.00 9.000%
</TABLE>
<PAGE> 4
Chemical Bank, Trustee Determination Date:
Manufactured Housing Contracts Remittance Date:
Senior/Subordinated Pass-Through For the Period Ended:
Certificates Series 1995A
Computation of Available Distribution Amount
<TABLE>
<CAPTION>
<S> <C>
(i) Certificate Account Balance at Monthly Cutoff 4,056,308.79
(ii) Monthly Advance made 0.00
(iii) Section 5.05 Certificate Fund Income 21,193.42
Less:
(i) Scheduled Payments of principal and interest
due subsequent to the Due Period 129,220.29
(ii) Due to the Servicer Pursuant to Section 6.02:
(i) Section 3.05 Purchases (Due Seller) 0.00
(ii) Reimbursement for taxes from Liquidation Proceeds 0.00
(iii) Monthly Servicing Fee 167,947.31
(iv) Reimbursable Liquidation Expenses 50,239.01
(v) Section 6.04 (c) reimbursement 0.00
(vi) Section 8.06 reimbursement 0.00
(vii) Amounts not required to be deposited 0.00
Total Due Servicer 218,186.32
Available Distribution Amount 3,730,095.60
To Class A and B 3,582,619.88
Monthly Excess Cashflow 147,475.72
Weighted Average Remaining Term (months) 145.93
Weighted Average Interest Rate 12.54%
Scheduled Balance Computation
Prior Month Balance 161,229,413.97
Current Balance 158,873,923.24
Adv. Principal 45,599.50
Def Principal 197,844.84
Pool Scheduled Balance 158,721,677.90
Principal Payments in Full 1,808,719.13
Partial Prepayments 52,412.76
Scheduled Principal 646,604.18
Collateral Balance 158,873,923.24
</TABLE>
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