<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): May 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: 423-970-7200
Not Applicable
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(Former name or former address, if changed since last report)
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Item 5. Other Events
On May 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 Passs 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.
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<CAPTION>
Exhibit No. Description Page
----------- ----------- ----
<S> <C> <C>
28 Monthly Report delivered by 3
the Trustee to Certificateholders
in connection with distribution
on May 7, 1996.
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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: May 7, 1996
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Chemical Bank, Trustee Determination Date: 03-May-96
Manufactured Housing Contracts Remittance Date: 07-May-96
Senior/Subordinated Pass-Through For the Period Ended: 25-Apr-96
Certificates Series 1995A
Information for Clauses (a) through (n), Section 7.01
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<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 2,601,011.61 262,196.00 156,471.88 245,898.13
(b) Formula Principal Distribution Amount
(a) Scheduled Principal Due 679,870.20
(b) Partial Prepayments Received 84,609.05
(c) Principal Payments in Full 1,725,905.19
(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 2,490,384.44 0.00 0.00 0.00
(c) Interest Distribution 110,627.17 262,196.00 156,471.88 245,898.13
Unpaid Interest Shortfall 0.00 0.00 0.00 0.00
------------- ------------- ------------- -------------
Total Interest Distribution 110,627.17 262,196.00 156,471.88 245,898.13
(d) Beg. Class A and B Principal Balance 18,566,798.41 41,536,000.00 24,150,000.00 35,767,000.00
Less: Principal Distribution 2,490,384.44 0.00 0.00 0.00
------------- ------------- ------------- -------------
Rem. Class A and B Principal Balance 16,076,413.97 41,536,000.00 24,150,000.00 35,767,000.00
(e) Fees Due Servicer
Monthly Servicing Fee 170,541.46
Section 8.06 Reimbursement Amount 0.00
Section 6.02 Reimbursement Amount 56,244.18
Reimburseable Fees 0.00
-------------
Total Fees Due Servicer 226,785.64
<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 119,700.00 67,687.50 55,891.67 71,250.00
(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 Distribution 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
</TABLE>
<TABLE>
<CAPTION>
No. of Unpaid Principal
(f) Delinquency Contracts Balance
<S> <C> <C>
31-59 Days Delinquent 146 3,224,788
60-89 Days Delinquent 32 756,101
90+ Days Delinquent 61 1,391,072
(g) Section 3.05 Repurchases 0.00
(i) Class R Distribution Amount 252,518.96
Repossession Profits 0.00
(j) Principal Balance of Contracts
in Repossession 0.00
(k) Aggregate Net Liquidation Losses 0.00
(l) (x) Class B-2 Formula Distribution Amt 71,250.00
(y) Remaining Amount Available 323,768.96
-------------
Amount of (x) over (y) 0.00
(m) Class B-2 Liquidation Loss Amount 0.00
(n) Guarantee Payment 0.00
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<TABLE>
<CAPTION>
(h) Pool Factor Original Balance Rate
<S> <C> <C> <C>
Class A-1 0.35847245 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 8.650%
Class B-1 1.00000000 7,600,000.00 8.825%
Class B-2 1.00000000 9,500,000.00 9.000%
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<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>
<S> <C> <C>
(i) Certificate Account Balance at Monthly Cutoff 4,191,597.37
(ii) Monthly Advance made 0.00
(iii) Section 5.05 Certificate Fund Income 16,425.51
Less:
(i) Scheduled Payments of principal and interest
due subsequent to the Due Period 148,611.49
(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 170,541.46
(iv) Reimburseable Liquidation Expenses 56,244.18
(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 226,785.64
Available Distribution Amount 3,832,625.75
To Class A and B 3,580,106.79
Monthly Excess Cashflow 252,518.96
Weighted Average Remaining Term (months) 145.93
Weighted Average Interest Rate 12.54%
Scheduled Balance Computation
Prior Month Balance 163,719,798.41
Current Balance 161,359,298.26
Adv Principal 51,518.50
Del Principal 181,402.79
Pool Scheduled Balance 161,229,413.97
Principal Payments in Full 1,725,905.19
Partial Prepayments 84,609.05
Scheduled Principal 679,870.20
Collateral Balance 161,359,298.26
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