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)
March 25, 1997
RESIDENTIAL ACCREDIT LOANS, INC.
(Exact name of the registrant as specified in
its charter)
33-95932 51-0368240
Delaware (Commission File Number) (I.R.S. Employee
(State or other Identification No.)
jurisdiction of
incorporation)
8400 Normandale Lake Boulevard 55437
Minneapolis, Minnesota (Zip Code)
(Address of Principal
Executive Offices)
Registrant's telephone number, including area code
(612) 832-7000
- --------------------
Item 5. Other Events
<PAGE>
See the respective monthly reports, each reflecting the required information for
the March 1997 distribution to holders of the following series of Conduit
Mortgage Pass-Through Certificates.
Master Serviced by Residential Funding Corporation
1995-QS1 RALI
1996-QS1 RALI
1996-QS2 RALI
1996-QS3 RALI
1996-QS4 RALI
1996-QS6 RALI
1996-QS5 RALI
1996-QS7 RALI
1996-QS8 RALI
1997-QS1 RALI
Item 7. Financial Statements and Exhibits (a) Not applicable (b) Not applicable
(c) See Item 5.
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 ACCREDIT LOANS, INC.
By: /s/Davee Olson
Name: Davee Olson
Title: Chief Financial Officer
and Treasurer
Dated: March 25, 1997
<PAGE>
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RESIDENTIAL FUNDING CORPORATION (MASTER SERVICER)
RESIDENTIAL ACCREDIT LOANS, INC. (COMPANY)
MORTGAGE PASS-THROUGH CERTIFICATES SERIES 1995-QS1 (POOL # 4180)
STATEMENT TO CERTIFICATEHOLDERS
DISTRIBUTION SUMMARY FOR POOL# 4180
_______________________________________________________________________________
PRINCIPAL CURRENT
ORIGINAL BALANCE BEFORE PASS-THROUGH PRINCIPAL
CLASS CUSIP FACE VALUE DISTRIBUTION RATE DISTRIBUTION
_______________________________________________________________________________
A-1 76110FAA1 54,500,000.00 169,909.87 6.600000 % 169,909.87
A-2 76110FAB9 82,500,000.00 82,500,000.00 6.900000 % 2,384,088.55
A-3 76110FAC7 22,250,000.00 22,250,000.00 7.300000 % 0.00
A-4 76110FAD5 46,000,000.00 46,000,000.00 7.500000 % 0.00
A-5 76110FAE3 22,100,000.00 22,100,000.00 7.500000 % 0.00
A-6 76110FAF0 31,109,000.00 31,109,000.00 7.500000 % 0.00
R 514.42 2,326,135.63 0.000000 % 0.00
- -------------------------------------------------------------------------------
258,459,514.42 206,455,045.50 2,553,998.42
===============================================================================
_______________________________________________________________________________
REMAINING
INTEREST TOTAL DEFERRED REALIZED PRINCIPAL
DISTRIBUTION DISTRIBUTION INTEREST LOSSES BALANCE
_______________________________________________________________________________
A-1 934.50 170,844.37 0.00 0.00 0.00
A-2 474,375.00 2,858,463.55 0.00 0.00 80,115,911.45
A-3 135,354.17 135,354.17 0.00 0.00 22,250,000.00
A-4 287,500.00 287,500.00 0.00 0.00 46,000,000.00
A-5 138,125.00 138,125.00 0.00 0.00 22,100,000.00
A-6 194,431.25 194,431.25 0.00 0.00 31,109,000.00
R 304,568.18 304,568.18 0.00 0.00 2,326,135.63
- -------------------------------------------------------------------------------
1,535,288.10 4,089,286.52 0.00 0.00 203,901,047.08
===============================================================================
_______________________________________________________________________________
AMOUNTS PER $1,000 UNIT
_______________________________________________________________________________
BEGINNING ENDING
BALANCE PRINCIPAL INTEREST TOTAL DEFERRED BALANCE
CLASS FACTOR FACTOR FACTOR DISTRIBUTION INTEREST FACTOR
_______________________________________________________________________________
A-1 3.117612 3.117612 0.017147 3.134759 0.000000 0.000000
A-2 1000.000000 28.898043 5.750000 34.648043 0.000000 971.101957
A-3 1000.000000 0.000000 6.083333 6.083333 0.000000 1000.000000
A-4 1000.000000 0.000000 6.250000 6.250000 0.000000 1000.000000
A-5 1000.000000 0.000000 6.250000 6.250000 0.000000 1000.000000
A-6 1000.000000 0.000000 6.250000 6.250000 0.000000 1000.000000
_______________________________________________________________________________
DETERMINATION DATE 20-March-97
DISTRIBUTION DATE 25-March-97
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RESIDENTIAL FUNDING CORPORATION (MASTER SERVICER)
RESIDENTIAL ACCREDIT LOANS, INC. (COMPANY)
MORTGAGE PASS-THROUGH CERTIFICATES 1995-QS1 (POOL # 4180)
STATEMENT TO CERTIFICATEHOLDERS
ADDITIONAL RELATED INFORMATION FOR POOL 4180
_______________________________________________________________________________
SERVICING COMPENSATION RECEIVED BY SUB-SERVICER 42,572.98
SERVICING COMPENSATION RECEIVED BY MASTER SERVICER 5,881.78
SUBSERVICER ADVANCES THIS MONTH 87,448.43
MASTER SERVICER ADVANCES THIS MONTH 5,705.49
NUMBER OF PRINCIPAL
DELINQUENCIES: LOANS BALANCE
(A) ONE MONTHLY PAYMENT: 50 5,221,093.80
(B) TWO MONTHLY PAYMENTS: 8 922,795.07
(C) THREE OR MORE MONTHLY PAYMENTS: 7 1,278,051.67
FORECLOSURES
NUMBER OF LOANS 18
AGGREGATE PRINCIPAL BALANCE 3,253,461.34
SCHEDULED PRINCIPAL BALANCE OF MORTGAGE LOANS AFTER
DISTRIBUTION 203,901,047.08
AGGREGATE NUMBER OF LOANS IN THE POOL AS OF THE
DETERMINATION DATE 2,165
NUMBER OF REO LOANS ACQUIRED
INCLUDING ANY PENDING CASH LIQUIDATIONS 4
BOOK VALUE OF REAL ESTATE ACQUIRED THROUGH
FORECLOSURE OR GRANT OF A DEED IN LIEU OF
FORECLOSURE, INCLUDING ANY PENDING CASH LIQUIDATIONS 715,757.31
REMAINING SUBCLASS INTEREST SHORTFALL 0.00
CLASS A SHORTFALL (PRINCIPAL) 0.00
CLASS A SHORTFALL (INTEREST) 0.00
TOTAL PREPAYMENTS INCLUDED IN THIS DISTRIBUTION 2,360,831.64
TOTAL REPURCHASES INCLUDED IN THIS DISTRIBUTION 0.00
DISTRIBUTION PERCENTAGES:
SENIOR SUBORDINATE
PERCENTAGE FOR CURRENT DISTRIBUTION 98.87329680 % 1.12670320 %
CURRENT PREPAYMENT PERCENTAGE 100.00000000 % 0.00000000 %
PERCENTAGE FOR NEXT DISTRIBUTION 98.85918410 % 1.14081590 %
BANKRUPTCY AMOUNT AVAILABLE 0.00
FRAUD AMOUNT AVAILABLE 0.00
SPECIAL HAZARD AMOUNT AVAILABLE 0.00
ENDING GROSS WEIGHTED AVERAGE INTEREST RATE 9.33327044
ENDING WEIGHTED AVERAGE MATURITY, IN MONTHS 314.40
POOL TRADING FACTOR: 78.89090388
................................................................................
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RESIDENTIAL FUNDING CORPORATION (MASTER SERVICER)
RESIDENTIAL ACCREDIT LOANS, INC. (COMPANY)
MORTGAGE PASS-THROUGH CERTIFICATES SERIES 1996-QS1 (POOL # 4194)
STATEMENT TO CERTIFICATEHOLDERS
DISTRIBUTION SUMMARY FOR POOL# 4194
_______________________________________________________________________________
PRINCIPAL CURRENT
ORIGINAL BALANCE BEFORE PASS-THROUGH PRINCIPAL
CLASS CUSIP FACE VALUE DISTRIBUTION RATE DISTRIBUTION
_______________________________________________________________________________
A-I- 76110FAG8 52,015,000.00 13,874,564.55 6.000000 % 2,831,619.81
A-I- 76110FAH6 67,186,000.00 67,186,000.00 6.250000 % 0.00
A-I- 76110FAJ2 22,562,000.00 22,562,000.00 6.750000 % 0.00
A-I- 76110FAK9 31,852,000.00 31,852,000.00 6.900000 % 0.00
A-I- 76110FAL7 14,535,000.00 14,535,000.00 7.050000 % 0.00
A-I- 76110FAM5 18,417,136.00 18,417,136.00 7.250000 % 0.00
A-I- 76110FAN3 20,000,000.00 20,000,000.00 6.700000 % 0.00
A-II 76110FAQ6 29,374,968.00 19,755,974.67 5.715000 % 846,633.15
R 0.53 2,026,594.48 0.000000 % 0.00
- -------------------------------------------------------------------------------
255,942,104.53 210,209,269.70 3,678,252.96
===============================================================================
_______________________________________________________________________________
REMAINING
INTEREST TOTAL DEFERRED REALIZED PRINCIPAL
DISTRIBUTION DISTRIBUTION INTEREST LOSSES BALANCE
_______________________________________________________________________________
A-I-1 69,372.82 2,900,992.63 0.00 0.00 11,042,944.74
A-I-2 349,927.08 349,927.08 0.00 0.00 67,186,000.00
A-I-3 126,911.25 126,911.25 0.00 0.00 22,562,000.00
A-I-4 183,149.00 183,149.00 0.00 0.00 31,852,000.00
A-I-5 85,393.13 85,393.13 0.00 0.00 14,535,000.00
A-I-6 111,270.20 111,270.20 0.00 0.00 18,417,136.00
A-I-7 111,666.67 111,666.67 0.00 0.00 20,000,000.00
A-II 87,815.31 934,448.46 0.00 0.00 18,909,341.52
R 372,003.55 372,003.55 0.00 0.00 2,026,594.48
- -------------------------------------------------------------------------------
1,497,509.01 5,175,761.97 0.00 0.00 206,531,016.74
===============================================================================
_______________________________________________________________________________
AMOUNTS PER $1,000 UNIT
_______________________________________________________________________________
BEGINNING ENDING
BALANCE PRINCIPAL INTEREST TOTAL DEFERRED BALANCE
CLASS FACTOR FACTOR FACTOR DISTRIBUTION INTEREST FACTOR
_______________________________________________________________________________
A-I- 266.741604 54.438524 1.333708 55.772232 0.000000 212.303081
A-I- 1000.000000 0.000000 5.208333 5.208333 0.000000 1000.000000
A-I- 1000.000000 0.000000 5.625000 5.625000 0.000000 1000.000000
A-I- 1000.000000 0.000000 5.750000 5.750000 0.000000 1000.000000
A-I- 1000.000000 0.000000 5.875000 5.875000 0.000000 1000.000000
A-I- 1000.000000 0.000000 6.041667 6.041667 0.000000 1000.000000
A-I- 1000.000000 0.000000 5.583334 5.583334 0.000000 1000.000000
A-II 672.544551 28.821585 2.989461 31.811046 0.000000 643.722966
_______________________________________________________________________________
DETERMINATION DATE 20-March-97
DISTRIBUTION DATE 25-March-97
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RESIDENTIAL FUNDING CORPORATION (MASTER SERVICER)
RESIDENTIAL ACCREDIT LOANS, INC. (COMPANY)
MORTGAGE PASS-THROUGH CERTIFICATES 1996-QS1 (POOL # 4194)
STATEMENT TO CERTIFICATEHOLDERS
ADDITIONAL RELATED INFORMATION FOR POOL 4194
_______________________________________________________________________________
SERVICING COMPENSATION RECEIVED BY SUB-SERVICER 45,340.09
SERVICING COMPENSATION RECEIVED BY MASTER SERVICER 3,677.63
SUBSERVICER ADVANCES THIS MONTH 87,922.50
MASTER SERVICER ADVANCES THIS MONTH 2,681.65
NUMBER OF PRINCIPAL
DELINQUENCIES: LOANS BALANCE
(A) ONE MONTHLY PAYMENT: 36 5,391,211.99
(B) TWO MONTHLY PAYMENTS: 7 1,440,582.31
(C) THREE OR MORE MONTHLY PAYMENTS: 6 1,354,873.65
FORECLOSURES
NUMBER OF LOANS 13
AGGREGATE PRINCIPAL BALANCE 3,091,740.86
SCHEDULED PRINCIPAL BALANCE OF MORTGAGE LOANS AFTER
DISTRIBUTION 206,531,016.74
AGGREGATE NUMBER OF LOANS IN THE POOL AS OF THE
DETERMINATION DATE 1,674
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 305,562.56
REMAINING SUBCLASS INTEREST SHORTFALL 0.00
CLASS A SHORTFALL (PRINCIPAL) 0.00
CLASS A SHORTFALL (INTEREST) 0.00
TOTAL PREPAYMENTS INCLUDED IN THIS DISTRIBUTION 3,499,752.18
TOTAL REPURCHASES INCLUDED IN THIS DISTRIBUTION 0.00
DISTRIBUTION PERCENTAGES:
SENIOR SUBORDINATE
PERCENTAGE FOR CURRENT DISTRIBUTION 99.03591570 % 0.96408430 %
CURRENT PREPAYMENT PERCENTAGE 100.00000000 % 0.00000000 %
PERCENTAGE FOR NEXT DISTRIBUTION 99.01874570 % 0.98125430 %
BANKRUPTCY AMOUNT AVAILABLE 100,000.00
FRAUD AMOUNT AVAILABLE 2,144,493.00
SPECIAL HAZARD AMOUNT AVAILABLE 2,144,493.00
ENDING GROSS WEIGHTED AVERAGE INTEREST RATE 8.97788700
ENDING WEIGHTED AVERAGE MATURITY, IN MONTHS 324.34
POOL TRADING FACTOR: 80.69442780
................................................................................
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RESIDENTIAL FUNDING CORPORATION (MASTER SERVICER)
RESIDENTIAL ACCREDIT LOANS, INC. (COMPANY)
MORTGAGE PASS-THROUGH CERTIFICATES SERIES 1996-QS2 (POOL # 4201)
STATEMENT TO CERTIFICATEHOLDERS
DISTRIBUTION SUMMARY FOR POOL# 4201
_______________________________________________________________________________
PRINCIPAL CURRENT
ORIGINAL BALANCE BEFORE PASS-THROUGH PRINCIPAL
CLASS CUSIP FACE VALUE DISTRIBUTION RATE DISTRIBUTION
_______________________________________________________________________________
A-1 76110FAS2 40,000,000.00 22,331,233.50 6.400000 % 1,139,613.06
A-2 76110FAT0 16,000,000.00 16,000,000.00 7.000000 % 0.00
A-3 76110FAU7 28,500,000.00 28,500,000.00 7.050000 % 0.00
A-4 76110FAV5 15,000,000.00 15,000,000.00 7.050000 % 0.00
A-5 76110FAW3 14,000,000.00 14,000,000.00 7.350000 % 0.00
A-6 76110FAX1 10,000,000.00 10,000,000.00 7.450000 % 0.00
A-7 76110FAY9 26,000,000.00 26,000,000.00 7.250000 % 0.00
A-8 76110FAZ6 14,043,411.00 14,043,411.00 7.500000 % 0.00
A-9 76110FBA0 18,190,000.00 18,190,000.00 7.500000 % 0.00
A-10 76110FBB8 178,007.00 174,804.55 0.000000 % 216.46
R 0.00 1,819,114.18 0.000000 % 0.00
- -------------------------------------------------------------------------------
181,911,418.00 166,058,563.23 1,139,829.52
===============================================================================
_______________________________________________________________________________
REMAINING
INTEREST TOTAL DEFERRED REALIZED PRINCIPAL
DISTRIBUTION DISTRIBUTION INTEREST LOSSES BALANCE
_______________________________________________________________________________
A-1 119,099.91 1,258,712.97 0.00 0.00 21,191,620.44
A-2 93,333.33 93,333.33 0.00 0.00 16,000,000.00
A-3 167,437.50 167,437.50 0.00 0.00 28,500,000.00
A-4 88,125.00 88,125.00 0.00 0.00 15,000,000.00
A-5 85,750.00 85,750.00 0.00 0.00 14,000,000.00
A-6 62,083.33 62,083.33 0.00 0.00 10,000,000.00
A-7 157,083.33 157,083.33 0.00 0.00 26,000,000.00
A-8 87,771.32 87,771.32 0.00 0.00 14,043,411.00
A-9 113,687.50 113,687.50 0.00 0.00 18,190,000.00
A-10 0.00 216.46 0.00 0.00 174,588.09
R 185,290.11 185,290.11 0.00 0.00 1,819,114.18
- -------------------------------------------------------------------------------
1,159,661.33 2,299,490.85 0.00 0.00 164,918,733.71
===============================================================================
_______________________________________________________________________________
AMOUNTS PER $1,000 UNIT
_______________________________________________________________________________
BEGINNING ENDING
BALANCE PRINCIPAL INTEREST TOTAL DEFERRED BALANCE
CLASS FACTOR FACTOR FACTOR DISTRIBUTION INTEREST FACTOR
_______________________________________________________________________________
A-1 558.280838 28.490327 2.977498 31.467825 0.000000 529.790511
A-2 1000.000000 0.000000 5.833333 5.833333 0.000000 1000.000000
A-3 1000.000000 0.000000 5.875000 5.875000 0.000000 1000.000000
A-4 1000.000000 0.000000 5.875000 5.875000 0.000000 1000.000000
A-5 1000.000000 0.000000 6.125000 6.125000 0.000000 1000.000000
A-6 1000.000000 0.000000 6.208333 6.208333 0.000000 1000.000000
A-7 1000.000000 0.000000 6.041667 6.041667 0.000000 1000.000000
A-8 1000.000000 0.000000 6.250000 6.250000 0.000000 1000.000000
A-9 1000.000000 0.000000 6.250000 6.250000 0.000000 1000.000000
A-10 982.009415 1.216020 0.000000 1.216020 0.000000 980.793396
_______________________________________________________________________________
DETERMINATION DATE 20-March-97
DISTRIBUTION DATE 25-March-97
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RESIDENTIAL FUNDING CORPORATION (MASTER SERVICER)
RESIDENTIAL ACCREDIT LOANS, INC. (COMPANY)
MORTGAGE PASS-THROUGH CERTIFICATES 1996-QS2 (POOL # 4201)
STATEMENT TO CERTIFICATEHOLDERS
ADDITIONAL RELATED INFORMATION FOR POOL 4201
_______________________________________________________________________________
SERVICING COMPENSATION RECEIVED BY SUB-SERVICER 34,687.35
SERVICING COMPENSATION RECEIVED BY MASTER SERVICER 7,549.00
SUBSERVICER ADVANCES THIS MONTH 69,945.26
MASTER SERVICER ADVANCES THIS MONTH 0.00
NUMBER OF PRINCIPAL
DELINQUENCIES: LOANS BALANCE
(A) ONE MONTHLY PAYMENT: 38 4,975,629.42
(B) TWO MONTHLY PAYMENTS: 6 1,407,487.14
(C) THREE OR MORE MONTHLY PAYMENTS: 3 938,033.91
FORECLOSURES
NUMBER OF LOANS 10
AGGREGATE PRINCIPAL BALANCE 1,655,493.73
SCHEDULED PRINCIPAL BALANCE OF MORTGAGE LOANS AFTER
DISTRIBUTION 164,918,733.71
AGGREGATE NUMBER OF LOANS IN THE POOL AS OF THE
DETERMINATION DATE 1,535
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 998,278.28
TOTAL REPURCHASES INCLUDED IN THIS DISTRIBUTION 0.00
DISTRIBUTION PERCENTAGES:
SENIOR SUBORDINATE
PERCENTAGE FOR CURRENT DISTRIBUTION 98.90453460 % 1.09546550 %
CURRENT PREPAYMENT PERCENTAGE 100.00000000 % 0.00000000 %
PERCENTAGE FOR NEXT DISTRIBUTION 98.89696330 % 1.10303670 %
BANKRUPTCY AMOUNT AVAILABLE 0.00
FRAUD AMOUNT AVAILABLE 0.00
SPECIAL HAZARD AMOUNT AVAILABLE 0.00
ENDING GROSS WEIGHTED AVERAGE INTEREST RATE 8.79543000
ENDING WEIGHTED AVERAGE MATURITY, IN MONTHS 329.05
POOL TRADING FACTOR: 90.65881379
................................................................................
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RESIDENTIAL FUNDING CORPORATION (MASTER SERVICER)
RESIDENTIAL ACCREDIT LOANS, INC. (COMPANY)
MORTGAGE ASSET-BACKED PASS-THROUGH CERTIFICATES SERIES 1996-QS3 (POOL # 4211)
STATEMENT TO CERTIFICATEHOLDERS
DISTRIBUTION SUMMARY FOR POOL# 4211
_______________________________________________________________________________
PRINCIPAL CURRENT
ORIGINAL BALANCE BEFORE PASS-THROUGH PRINCIPAL
CLASS CUSIP FACE VALUE DISTRIBUTION RATE DISTRIBUTION
_______________________________________________________________________________
A-I- 76110FBC6 42,855,000.00 27,494,135.28 6.780000 % 1,306,502.04
A-I- 76110FBD4 26,000,000.00 26,000,000.00 7.150000 % 0.00
A-I- 76110FBE2 10,596,000.00 10,596,000.00 7.290000 % 0.00
A-I- 76110FBF9 25,000,000.00 22,849,371.40 7.250000 % 182,919.43
A-I- 76110FBG7 18,587,000.00 18,587,000.00 7.460000 % 0.00
A-I- 76110FBH5 21,696,000.00 21,696,000.00 7.750000 % 0.00
A-I- 76110FBJ1 8,047,000.00 8,047,000.00 7.750000 % 0.00
A-I- 76110FBK8 17,436,000.00 17,436,000.00 7.750000 % 0.00
A-I- 76110FBL6 25,145,000.00 25,145,000.00 7.750000 % 0.00
A-I- 76110FBM4 19,000,000.00 19,000,000.00 7.750000 % 0.00
A-I- 76110FBN2 15,875,562.00 15,875,562.00 7.750000 % 0.00
A-II 76110FBP7 20,551,438.00 18,982,635.08 7.750000 % 66,084.37
A-P 76110FBQ5 1,166,695.86 1,115,651.78 0.000000 % 1,895.45
R-I 76110FBR3 100.00 0.00 7.750000 % 0.00
R-II 76110FBS1 100.00 0.00 7.750000 % 0.00
M-1 76110FBT9 12,528,500.00 12,448,804.05 7.750000 % 10,449.29
M-2 76110FBU6 5,568,000.00 5,532,581.00 7.750000 % 4,643.95
M-3 76110FBV4 4,176,000.00 4,149,435.75 7.750000 % 3,482.96
B-1 1,809,600.00 1,798,088.82 7.750000 % 1,509.28
B-2 696,000.00 691,572.62 7.750000 % 580.49
B-3 1,670,738.96 1,660,111.06 7.750000 % 1,393.47
SPRE 0.00 0.00 0.737472 % 0.00
STRI 0.00 0.00 0.000000 % 0.00
- -------------------------------------------------------------------------------
278,404,734.82 259,104,948.84 1,579,460.73
===============================================================================
_______________________________________________________________________________
REMAINING
INTEREST TOTAL DEFERRED REALIZED PRINCIPAL
DISTRIBUTION DISTRIBUTION INTEREST LOSSES BALANCE
_______________________________________________________________________________
A-I-1 155,311.88 1,461,813.92 0.00 0.00 26,187,633.24
A-I-2 154,886.77 154,886.77 0.00 0.00 26,000,000.00
A-I-3 64,358.28 64,358.28 0.00 0.00 10,596,000.00
A-I-4 138,021.64 320,941.07 0.00 0.00 22,666,451.97
A-I-5 115,526.88 115,526.88 0.00 0.00 18,587,000.00
A-I-6 140,092.95 140,092.95 0.00 0.00 21,696,000.00
A-I-7 51,960.18 51,960.18 0.00 0.00 8,047,000.00
A-I-8 112,585.76 112,585.76 0.00 0.00 17,436,000.00
A-I-9 162,363.44 162,363.44 0.00 0.00 25,145,000.00
A-I-10 122,684.64 122,684.64 0.00 0.00 19,000,000.00
A-I-11 102,509.88 102,509.88 0.00 0.00 15,875,562.00
A-II 122,572.52 188,656.89 0.00 0.00 18,916,550.71
A-P 0.00 1,895.45 0.00 0.00 1,113,756.33
R-I 0.00 0.00 0.00 0.00 0.00
R-II 0.00 0.00 0.00 0.00 0.00
M-1 80,383.01 90,832.30 0.00 0.00 12,438,354.76
M-2 35,724.35 40,368.30 0.00 0.00 5,527,937.05
M-3 26,793.27 30,276.23 0.00 0.00 4,145,952.79
B-1 11,610.42 13,119.70 0.00 0.00 1,796,579.54
B-2 4,465.55 5,046.04 0.00 0.00 690,992.13
B-3 10,719.48 12,112.95 0.00 0.00 1,658,717.59
SPRED 159,204.70 159,204.70 0.00 0.00 0.00
STRIP 53,288.37 53,288.37 0.00 0.00 0.00
- -------------------------------------------------------------------------------
1,825,063.97 3,404,524.70 0.00 0.00 257,525,488.11
===============================================================================
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RESIDENTIAL FUNDING CORPORATION (MASTER SERVICER)
RESIDENTIAL ACCREDIT LOANS, INC. (COMPANY)
MORTGAGE ASSET-BACKED PASS-THROUGH CERTIFICATES SERIES 1996-QS3 (POOL # 4211)
STATEMENT TO CERTIFICATEHOLDERS
DISTRIBUTION SUMMARY FOR POOL# 4211
_______________________________________________________________________________
AMOUNTS PER $1,000 UNIT
_______________________________________________________________________________
BEGINNING ENDING
BALANCE PRINCIPAL INTEREST TOTAL DEFERRED BALANCE
CLASS FACTOR FACTOR FACTOR DISTRIBUTION INTEREST FACTOR
_______________________________________________________________________________
A-I- 641.561901 30.486572 3.624125 34.110697 0.000000 611.075329
A-I- 1000.000000 0.000000 5.957183 5.957183 0.000000 1000.000000
A-I- 1000.000000 0.000000 6.073828 6.073828 0.000000 1000.000000
A-I- 913.974856 7.316777 5.520866 12.837643 0.000000 906.658079
A-I- 1000.000000 0.000000 6.215467 6.215467 0.000000 1000.000000
A-I- 1000.000000 0.000000 6.457087 6.457087 0.000000 1000.000000
A-I- 1000.000000 0.000000 6.457087 6.457087 0.000000 1000.000000
A-I- 1000.000000 0.000000 6.457086 6.457086 0.000000 1000.000000
A-I- 1000.000000 0.000000 6.457086 6.457086 0.000000 1000.000000
A-I- 1000.000000 0.000000 6.457086 6.457086 0.000000 1000.000000
A-I- 1000.000000 0.000000 6.457087 6.457087 0.000000 1000.000000
A-II 923.664567 3.215559 5.964182 9.179741 0.000000 920.449008
A-P 956.249026 1.624630 0.000000 1.624630 0.000000 954.624397
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
M-1 993.638827 0.834042 6.416012 7.250054 0.000000 992.804786
M-2 993.638829 0.834043 6.416011 7.250054 0.000000 992.804786
M-3 993.638829 0.834042 6.416013 7.250055 0.000000 992.804787
B-1 993.638826 0.834041 6.416015 7.250056 0.000000 992.804786
B-2 993.638822 0.834037 6.416020 7.250057 0.000000 992.804785
B-3 993.638803 0.834044 6.416011 7.250055 0.000000 992.804758
_______________________________________________________________________________
DETERMINATION DATE 20-March-97
DISTRIBUTION DATE 25-March-97
Run: 03/28/97 14:34:01 rept2.frg
Page: 3 of 3
RESIDENTIAL FUNDING CORPORATION (MASTER SERVICER)
RESIDENTIAL ACCREDIT LOANS, INC. (COMPANY)
MORTGAGE ASSET-BACKED PASS-THROUGH CERTIFICATES 1996-QS3 (POOL # 4211)
STATEMENT TO CERTIFICATEHOLDERS
ADDITIONAL RELATED INFORMATION FOR POOL 4211
_______________________________________________________________________________
SERVICING COMPENSATION RECEIVED BY SUB-SERVICER 54,230.28
SERVICING COMPENSATION RECEIVED BY MASTER SERVICER 10,843.35
SUBSERVICER ADVANCES THIS MONTH 31,885.25
MASTER SERVICER ADVANCES THIS MONTH 0.00
NUMBER OF PRINCIPAL
DELINQUENCIES: LOANS BALANCE
(A) ONE MONTHLY PAYMENT: 29 3,396,338.90
(B) TWO MONTHLY PAYMENTS: 1 209,057.86
(C) THREE OR MORE MONTHLY PAYMENTS: 3 365,948.38
FORECLOSURES
NUMBER OF LOANS 2
AGGREGATE PRINCIPAL BALANCE 126,628.53
SCHEDULED PRINCIPAL BALANCE OF MORTGAGE LOANS AFTER
DISTRIBUTION 257,525,488.11
AGGREGATE NUMBER OF LOANS IN THE POOL AS OF THE
DETERMINATION DATE 2,302
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 1,360,899.90
TOTAL REPURCHASES INCLUDED IN THIS DISTRIBUTION 0.00
DISTRIBUTION PERCENTAGES:
SENIOR CLASS M CLASS B
CURRENT DISTRIBUTION 89.42658360 % 8.54125700 % 1.60157980 %
PREPAYMENT PERCENT 89.51977360 % 0.00000000 % 10.48022640 %
NEXT DISTRIBUTION 89.75923070 % 8.58642955 % 1.61704350 %
BANKRUPTCY AMOUNT AVAILABLE 170,419.00
FRAUD AMOUNT AVAILABLE 5,568,095.00
SPECIAL HAZARD AMOUNT AVAILABLE 2,784,047.00
ENDING GROSS WEIGHTED AVERAGE INTEREST RATE 8.78414700
ENDING WEIGHTED AVERAGE MATURITY, IN MONTHS 330.82
POOL TRADING FACTOR: 92.50039813
................................................................................
Run: 03/28/97 14:34:03 REPT1B.FRG
Page: 1 of 3
RESIDENTIAL FUNDING CORPORATION (MASTER SERVICER)
RESIDENTIAL ACCREDIT LOANS, INC. (COMPANY)
MORTGAGE ASSET-BACKED PASS-THROUGH CERTIFICATES SERIES 1996-QS4 (POOL # 4216)
STATEMENT TO CERTIFICATEHOLDERS
DISTRIBUTION SUMMARY FOR POOL# 4216
_______________________________________________________________________________
PRINCIPAL CURRENT
ORIGINAL BALANCE BEFORE PASS-THROUGH PRINCIPAL
CLASS CUSIP FACE VALUE DISTRIBUTION RATE DISTRIBUTION
_______________________________________________________________________________
A-I- 76110FBW2 45,914,000.00 36,485,589.92 6.850000 % 3,128,118.41
A-I- 76110FBX0 26,945,000.00 23,487,943.69 11.000000 % 1,146,967.67
A-I- 76110FBY8 15,646,000.00 15,646,000.00 7.300000 % 0.00
A-I- 76110FBZ5 32,740,000.00 32,740,000.00 7.500000 % 0.00
A-I- 76110FCA9 10,023,000.00 10,023,000.00 7.700000 % 0.00
A-I- 76110FCB7 26,811,000.00 26,811,000.00 8.000000 % 0.00
A-I- 76110FCC5 18,046,000.00 18,046,000.00 8.000000 % 0.00
A-I- 76110FCD3 9,094,000.00 9,094,000.00 8.000000 % 0.00
A-I- 76110FCE1 10,284,000.00 10,284,000.00 8.000000 % 0.00
A-I- 76110FCF8 27,538,000.00 27,538,000.00 7.900000 % 0.00
A-II 76110FCG6 16,021,000.00 15,085,263.77 7.250000 % 212,565.32
A-II 76110FCH4 8,580,000.00 8,580,000.00 7.650000 % 0.00
A-P 76110FCJ0 3,039,637.99 2,944,406.99 0.000000 % 4,404.54
R-I 76110FCK7 100.00 0.00 8.000000 % 0.00
R-II 76110FCL5 100.00 0.00 8.000000 % 0.00
M-1 76110FCM3 13,230,500.00 13,156,988.35 8.000000 % 12,089.15
M-2 76110FCN1 5,570,800.00 5,539,847.36 8.000000 % 5,090.22
M-3 76110FCP6 4,456,600.00 4,431,838.12 8.000000 % 4,072.14
B-1 76110FCR2 2,228,400.00 2,216,018.50 8.000000 % 2,036.16
B-2 76110FCS0 696,400.00 692,530.65 8.000000 % 636.32
B-3 76110FCT8 1,671,255.97 1,661,970.10 8.000000 % 1,527.08
STRI 0.00 0.00 0.111415 % 0.00
A-V 76110FGN7 0.00 0.00 0.779607 % 0.00
- -------------------------------------------------------------------------------
278,535,793.96 264,464,397.45 4,517,507.01
===============================================================================
_______________________________________________________________________________
REMAINING
INTEREST TOTAL DEFERRED REALIZED PRINCIPAL
DISTRIBUTION DISTRIBUTION INTEREST LOSSES BALANCE
_______________________________________________________________________________
A-I-1 208,218.44 3,336,336.85 0.00 0.00 33,357,471.51
A-I-2 215,250.87 1,362,218.54 0.00 0.00 22,340,976.02
A-I-3 95,155.39 95,155.39 0.00 0.00 15,646,000.00
A-I-4 204,572.47 204,572.47 0.00 0.00 32,740,000.00
A-I-5 64,297.74 64,297.74 0.00 0.00 10,023,000.00
A-I-6 178,694.11 178,694.11 0.00 0.00 26,811,000.00
A-I-7 120,275.78 120,275.78 0.00 0.00 18,046,000.00
A-I-8 60,611.11 60,611.11 0.00 0.00 9,094,000.00
A-I-9 68,542.40 68,542.40 0.00 0.00 10,284,000.00
A-I-10 181,245.29 181,245.29 0.00 0.00 27,538,000.00
A-II-1 91,116.74 303,682.06 0.00 0.00 14,872,698.45
A-II-2 54,683.46 54,683.46 0.00 0.00 8,580,000.00
A-P 0.00 4,404.54 0.00 0.00 2,940,002.45
R-I 0.00 0.00 0.00 0.00 0.00
R-II 0.00 0.00 0.00 0.00 0.00
M-1 87,690.74 99,779.89 0.00 0.00 13,144,899.20
M-2 36,922.84 42,013.06 0.00 0.00 5,534,757.14
M-3 29,538.00 33,610.14 0.00 0.00 4,427,765.98
B-1 14,769.67 16,805.83 0.00 0.00 2,213,982.34
B-2 4,615.68 5,252.00 0.00 0.00 691,894.33
B-3 11,076.96 12,604.04 0.00 0.00 1,660,443.01
STRIP 15,741.33 15,741.33 0.00 0.00 0.00
A-V 171,771.22 171,771.22 0.00 0.00 0.00
- -------------------------------------------------------------------------------
1,914,790.24 6,432,297.25 0.00 0.00 259,946,890.43
===============================================================================
Run: 03/28/97 14:34:03
Page: 2 of 3
RESIDENTIAL FUNDING CORPORATION (MASTER SERVICER)
RESIDENTIAL ACCREDIT LOANS, INC. (COMPANY)
MORTGAGE ASSET-BACKED PASS-THROUGH CERTIFICATES SERIES 1996-QS4 (POOL # 4216)
STATEMENT TO CERTIFICATEHOLDERS
DISTRIBUTION SUMMARY FOR POOL# 4216
_______________________________________________________________________________
AMOUNTS PER $1,000 UNIT
_______________________________________________________________________________
BEGINNING ENDING
BALANCE PRINCIPAL INTEREST TOTAL DEFERRED BALANCE
CLASS FACTOR FACTOR FACTOR DISTRIBUTION INTEREST FACTOR
_______________________________________________________________________________
A-I- 794.650649 68.129948 4.534966 72.664914 0.000000 726.520702
A-I- 871.699525 42.566995 7.988527 50.555522 0.000000 829.132530
A-I- 1000.000000 0.000000 6.081771 6.081771 0.000000 1000.000000
A-I- 1000.000000 0.000000 6.248396 6.248396 0.000000 1000.000000
A-I- 1000.000000 0.000000 6.415019 6.415019 0.000000 1000.000000
A-I- 1000.000000 0.000000 6.664955 6.664955 0.000000 1000.000000
A-I- 1000.000000 0.000000 6.664955 6.664955 0.000000 1000.000000
A-I- 1000.000000 0.000000 6.664956 6.664956 0.000000 1000.000000
A-I- 1000.000000 0.000000 6.664955 6.664955 0.000000 1000.000000
A-I- 1000.000000 0.000000 6.581643 6.581643 0.000000 1000.000000
A-II 941.593145 13.267918 5.687332 18.955250 0.000000 928.325226
A-II 1000.000000 0.000000 6.373364 6.373364 0.000000 1000.000000
A-P 968.670282 1.449033 0.000000 1.449033 0.000000 967.221249
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
M-1 994.443774 0.913733 6.627923 7.541656 0.000000 993.530040
M-2 994.443771 0.913732 6.627924 7.541656 0.000000 993.530039
M-3 994.443773 0.913732 6.627923 7.541655 0.000000 993.530041
B-1 994.443771 0.913732 6.627926 7.541658 0.000000 993.530040
B-2 994.443782 0.913728 6.627915 7.541643 0.000000 993.530055
B-3 994.443778 0.913732 6.627925 7.541657 0.000000 993.530038
_______________________________________________________________________________
DETERMINATION DATE 20-March-97
DISTRIBUTION DATE 25-March-97
Run: 03/28/97 14:34:04 rept2.frg
Page: 3 of 3
RESIDENTIAL FUNDING CORPORATION (MASTER SERVICER)
RESIDENTIAL ACCREDIT LOANS, INC. (COMPANY)
MORTGAGE ASSET-BACKED PASS-THROUGH CERTIFICATES 1996-QS4 (POOL # 4216)
STATEMENT TO CERTIFICATEHOLDERS
ADDITIONAL RELATED INFORMATION FOR POOL 4216
_______________________________________________________________________________
SERVICING COMPENSATION RECEIVED BY SUB-SERVICER 54,861.45
SERVICING COMPENSATION RECEIVED BY MASTER SERVICER 3,992.60
SUBSERVICER ADVANCES THIS MONTH 53,757.28
MASTER SERVICER ADVANCES THIS MONTH 0.00
NUMBER OF PRINCIPAL
DELINQUENCIES: LOANS BALANCE
(A) ONE MONTHLY PAYMENT: 38 4,518,131.72
(B) TWO MONTHLY PAYMENTS: 4 306,029.71
(C) THREE OR MORE MONTHLY PAYMENTS: 2 265,072.42
FORECLOSURES
NUMBER OF LOANS 9
AGGREGATE PRINCIPAL BALANCE 1,369,700.42
SCHEDULED PRINCIPAL BALANCE OF MORTGAGE LOANS AFTER
DISTRIBUTION 259,946,890.43
AGGREGATE NUMBER OF LOANS IN THE POOL AS OF THE
DETERMINATION DATE 2,508
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 4,271,547.49
TOTAL REPURCHASES INCLUDED IN THIS DISTRIBUTION 0.00
DISTRIBUTION PERCENTAGES:
SENIOR CLASS M CLASS B
CURRENT DISTRIBUTION 88.41295830 % 8.74547700 % 1.72821720 %
PREPAYMENT PERCENT 100.00000000 % 0.00000000 % 0.00000000 %
NEXT DISTRIBUTION 89.23229560 % 8.88928592 % 1.77673050 %
BANKRUPTCY AMOUNT AVAILABLE 272,106.00
FRAUD AMOUNT AVAILABLE 5,570,716.00
SPECIAL HAZARD AMOUNT AVAILABLE 2,785,358.00
ENDING GROSS WEIGHTED AVERAGE INTEREST RATE 9.01417500
ENDING WEIGHTED AVERAGE MATURITY, IN MONTHS 322.79
POOL TRADING FACTOR: 93.32620657
................................................................................
Run: 03/28/97 14:33:06 REPT1B.FRG
Page: 1 of 2
RESIDENTIAL FUNDING CORPORATION (MASTER SERVICER)
RESIDENTIAL ACCREDIT LOANS, INC. (COMPANY)
MORTGAGE ASSET-BACKED PASS-THROUGH CERTIFICATES SERIES 1996-QS6 (POOL # 4220)
STATEMENT TO CERTIFICATEHOLDERS
DISTRIBUTION SUMMARY FOR POOL# 4220
_______________________________________________________________________________
PRINCIPAL CURRENT
ORIGINAL BALANCE BEFORE PASS-THROUGH PRINCIPAL
CLASS CUSIP FACE VALUE DISTRIBUTION RATE DISTRIBUTION
_______________________________________________________________________________
A 76110FCQ4 138,145,180.00 122,338,125.85 5.735000 % 2,147,114.21
R 973,833.13 1,949,966.11 0.000000 % 0.00
- -------------------------------------------------------------------------------
139,119,013.13 124,288,091.96 2,147,114.21
===============================================================================
_______________________________________________________________________________
REMAINING
INTEREST TOTAL DEFERRED REALIZED PRINCIPAL
DISTRIBUTION DISTRIBUTION INTEREST LOSSES BALANCE
_______________________________________________________________________________
A 545,529.75 2,692,643.96 0.00 0.00 120,191,011.64
R 0.00 0.00 221,666.09 0.00 2,171,632.20
- -------------------------------------------------------------------------------
545,529.75 2,692,643.96 221,666.09 0.00 122,362,643.84
===============================================================================
_______________________________________________________________________________
AMOUNTS PER $1,000 UNIT
_______________________________________________________________________________
BEGINNING ENDING
BALANCE PRINCIPAL INTEREST TOTAL DEFERRED BALANCE
CLASS FACTOR FACTOR FACTOR DISTRIBUTION INTEREST FACTOR
_______________________________________________________________________________
A 885.576506 15.542448 3.948960 19.491408 0.000000 870.034059
R 2002.361647 0.000000 0.000000 0.000000 227.622252 2229.983899
_______________________________________________________________________________
DETERMINATION DATE 20-March-97
DISTRIBUTION DATE 25-March-97
Run: 03/28/97 14:33:06 rept2.frg
Page: 2 of 2
RESIDENTIAL FUNDING CORPORATION (MASTER SERVICER)
RESIDENTIAL ACCREDIT LOANS, INC. (COMPANY)
MORTGAGE ASSET-BACKED PASS-THROUGH CERTIFICATES 1996-QS6 (POOL # 4220)
STATEMENT TO CERTIFICATEHOLDERS
ADDITIONAL RELATED INFORMATION FOR POOL 4220
_______________________________________________________________________________
SERVICING COMPENSATION RECEIVED BY SUB-SERVICER 38,064.16
SERVICING COMPENSATION RECEIVED BY MASTER SERVICER 3,015.68
SUBSERVICER ADVANCES THIS MONTH 35,495.47
MASTER SERVICER ADVANCES THIS MONTH 0.00
NUMBER OF PRINCIPAL
DELINQUENCIES: LOANS BALANCE
(A) ONE MONTHLY PAYMENT: 28 3,965,476.82
(B) TWO MONTHLY PAYMENTS: 6 834,252.22
(C) THREE OR MORE MONTHLY PAYMENTS: 0 0.00
FORECLOSURES
NUMBER OF LOANS 0
AGGREGATE PRINCIPAL BALANCE 0.00
SCHEDULED PRINCIPAL BALANCE OF MORTGAGE LOANS AFTER
DISTRIBUTION 122,362,643.84
AGGREGATE NUMBER OF LOANS IN THE POOL AS OF THE
DETERMINATION DATE 1,150
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 1,473,924.76
TOTAL REPURCHASES INCLUDED IN THIS DISTRIBUTION 280,673.89
DISTRIBUTION PERCENTAGES:
SENIOR SUBORDINATE
PERCENTAGE FOR CURRENT DISTRIBUTION 98.43109180 % 1.56890820 %
CURRENT PREPAYMENT PERCENTAGE 100.00000000 % 0.00000000 %
PERCENTAGE FOR NEXT DISTRIBUTION 98.22524900 % 1.77475100 %
BANKRUPTCY AMOUNT AVAILABLE 100,000.00
FRAUD AMOUNT AVAILABLE 4,173,570.00
SPECIAL HAZARD AMOUNT AVAILABLE 1,881,824.00
ENDING GROSS WEIGHTED AVERAGE INTEREST RATE 7.95905464
ENDING WEIGHTED AVERAGE MATURITY, IN MONTHS 297.66
POOL TRADING FACTOR: 87.95537079
................................................................................
Run: 03/28/97 14:34:05 REPT1B.FRG
Page: 1 of 3
RESIDENTIAL FUNDING CORPORATION (MASTER SERVICER)
RESIDENTIAL ACCREDIT LOANS, INC. (COMPANY)
MORTGAGE ASSET-BACKED PASS-THROUGH CERTIFICATES SERIES 1996-QS5 (POOL # 4222)
STATEMENT TO CERTIFICATEHOLDERS
DISTRIBUTION SUMMARY FOR POOL# 4222
_______________________________________________________________________________
PRINCIPAL CURRENT
ORIGINAL BALANCE BEFORE PASS-THROUGH PRINCIPAL
CLASS CUSIP FACE VALUE DISTRIBUTION RATE DISTRIBUTION
_______________________________________________________________________________
A-I- 76110FCU5 23,848,000.00 20,495,203.59 9.500000 % 673,573.25
A-I- 76110FCV3 25,000,000.00 23,002,961.20 7.600000 % 401,202.98
A-I- 76110FCW1 12,373,000.00 9,239,282.68 6.650000 % 629,560.49
A-I- 76110FCX9 7,100,000.00 7,100,000.00 7.450000 % 0.00
A-I- 76110FCY7 10,137,000.00 10,137,000.00 7.600000 % 0.00
A-I- 76110FCZ4 5,558,000.00 5,558,000.00 7.800000 % 0.00
A-I- 76110FDA8 16,926,000.00 16,926,000.00 8.000000 % 0.00
A-I- 76110FDB6 6,884,000.00 6,884,000.00 8.000000 % 0.00
A-I- 76110FDC4 11,229,000.00 11,229,000.00 8.000000 % 0.00
A-I- 76110FDD2 22,501,000.00 22,501,000.00 8.000000 % 0.00
A-II 76110FDE0 11,162,000.00 10,549,541.05 8.000000 % 48,271.23
A-II 76110FDF7 4,525,000.00 4,525,000.00 8.000000 % 0.00
A-P 76110FDG5 1,105,878.69 1,095,768.74 0.000000 % 1,260.12
R 76110FDH3 100.00 0.00 8.000000 % 0.00
M-1 76110FDJ9 7,918,500.00 7,887,682.16 8.000000 % 6,368.67
M-2 76110FDK6 3,958,800.00 3,943,392.83 8.000000 % 3,183.97
M-3 76110FDL4 2,815,100.00 2,804,143.98 8.000000 % 2,264.12
B-1 76110FDM2 1,407,600.00 1,402,121.80 8.000000 % 1,132.10
B-2 76110FDN0 439,800.00 438,088.35 8.000000 % 353.72
B-3 76110FDP5 1,055,748.52 1,051,639.64 8.000000 % 849.11
A-V 76110FGP2 0.00 0.00 0.888822 % 0.00
- -------------------------------------------------------------------------------
175,944,527.21 166,769,826.02 1,768,019.76
===============================================================================
_______________________________________________________________________________
REMAINING
INTEREST TOTAL DEFERRED REALIZED PRINCIPAL
DISTRIBUTION DISTRIBUTION INTEREST LOSSES BALANCE
_______________________________________________________________________________
A-I-1 162,201.44 835,774.69 0.00 0.00 19,821,630.34
A-I-2 145,638.50 546,841.48 0.00 0.00 22,601,758.22
A-I-3 51,184.53 680,745.02 0.00 0.00 8,609,722.19
A-I-4 44,064.97 44,064.97 0.00 0.00 7,100,000.00
A-I-5 64,180.32 64,180.32 0.00 0.00 10,137,000.00
A-I-6 36,115.36 36,115.36 0.00 0.00 5,558,000.00
A-I-7 112,803.66 112,803.66 0.00 0.00 16,926,000.00
A-I-8 45,878.55 45,878.55 0.00 0.00 6,884,000.00
A-I-9 74,835.89 74,835.89 0.00 0.00 11,229,000.00
A-I-10 149,958.36 149,958.36 0.00 0.00 22,501,000.00
A-II-1 70,307.62 118,578.85 0.00 0.00 10,501,269.82
A-II-2 30,156.95 30,156.95 0.00 0.00 4,525,000.00
A-P 0.00 1,260.12 0.00 0.00 1,094,508.62
R 0.00 0.00 0.00 0.00 0.00
M-1 52,567.61 58,936.28 0.00 0.00 7,881,313.49
M-2 26,280.82 29,464.79 0.00 0.00 3,940,208.86
M-3 18,688.27 20,952.39 0.00 0.00 2,801,879.86
B-1 9,344.47 10,476.57 0.00 0.00 1,400,989.70
B-2 2,919.65 3,273.37 0.00 0.00 437,734.63
B-3 7,008.67 7,857.78 0.00 0.00 1,050,790.52
A-V 123,484.12 123,484.12 0.00 0.00 0.00
- -------------------------------------------------------------------------------
1,227,619.76 2,995,639.52 0.00 0.00 165,001,806.25
===============================================================================
Run: 03/28/97 14:34:05
Page: 2 of 3
RESIDENTIAL FUNDING CORPORATION (MASTER SERVICER)
RESIDENTIAL ACCREDIT LOANS, INC. (COMPANY)
MORTGAGE ASSET-BACKED PASS-THROUGH CERTIFICATES SERIES 1996-QS5 (POOL # 4222)
STATEMENT TO CERTIFICATEHOLDERS
DISTRIBUTION SUMMARY FOR POOL# 4222
_______________________________________________________________________________
AMOUNTS PER $1,000 UNIT
_______________________________________________________________________________
BEGINNING ENDING
BALANCE PRINCIPAL INTEREST TOTAL DEFERRED BALANCE
CLASS FACTOR FACTOR FACTOR DISTRIBUTION INTEREST FACTOR
_______________________________________________________________________________
A-I- 859.409745 28.244433 6.801469 35.045902 0.000000 831.165311
A-I- 920.118448 16.048119 5.825540 21.873659 0.000000 904.070329
A-I- 746.729385 50.881798 4.136792 55.018590 0.000000 695.847587
A-I- 1000.000000 0.000000 6.206334 6.206334 0.000000 1000.000000
A-I- 1000.000000 0.000000 6.331293 6.331293 0.000000 1000.000000
A-I- 1000.000000 0.000000 6.497906 6.497906 0.000000 1000.000000
A-I- 1000.000000 0.000000 6.664520 6.664520 0.000000 1000.000000
A-I- 1000.000000 0.000000 6.664519 6.664519 0.000000 1000.000000
A-I- 1000.000000 0.000000 6.664520 6.664520 0.000000 1000.000000
A-I- 1000.000000 0.000000 6.664520 6.664520 0.000000 1000.000000
A-II 945.129999 4.324604 6.298837 10.623441 0.000000 940.805395
A-II 1000.000000 0.000000 6.664519 6.664519 0.000000 1000.000000
A-P 990.857994 1.139474 0.000000 1.139474 0.000000 989.718520
R 0.000000 0.000000 0.000000 0.000000 0.000000 0.000000
M-1 996.108121 0.804277 6.638582 7.442859 0.000000 995.303844
M-2 996.108121 0.804277 6.638582 7.442859 0.000000 995.303845
M-3 996.108124 0.804277 6.638581 7.442858 0.000000 995.303847
B-1 996.108127 0.804277 6.638583 7.442860 0.000000 995.303851
B-2 996.108117 0.804275 6.638586 7.442861 0.000000 995.303843
B-3 996.108088 0.804273 6.638579 7.442852 0.000000 995.303806
_______________________________________________________________________________
DETERMINATION DATE 20-March-97
DISTRIBUTION DATE 25-March-97
Run: 03/28/97 14:34:06 rept2.frg
Page: 3 of 3
RESIDENTIAL FUNDING CORPORATION (MASTER SERVICER)
RESIDENTIAL ACCREDIT LOANS, INC. (COMPANY)
MORTGAGE ASSET-BACKED PASS-THROUGH CERTIFICATES 1996-QS5 (POOL # 4222)
STATEMENT TO CERTIFICATEHOLDERS
ADDITIONAL RELATED INFORMATION FOR POOL 4222
_______________________________________________________________________________
SERVICING COMPENSATION RECEIVED BY SUB-SERVICER 34,604.31
SERVICING COMPENSATION RECEIVED BY MASTER SERVICER 5,005.83
SUBSERVICER ADVANCES THIS MONTH 35,437.56
MASTER SERVICER ADVANCES THIS MONTH 0.00
NUMBER OF PRINCIPAL
DELINQUENCIES: LOANS BALANCE
(A) ONE MONTHLY PAYMENT: 33 3,915,241.47
(B) TWO MONTHLY PAYMENTS: 3 178,129.16
(C) THREE OR MORE MONTHLY PAYMENTS: 1 99,351.78
FORECLOSURES
NUMBER OF LOANS 2
AGGREGATE PRINCIPAL BALANCE 96,211.69
SCHEDULED PRINCIPAL BALANCE OF MORTGAGE LOANS AFTER
DISTRIBUTION 165,001,806.25
AGGREGATE NUMBER OF LOANS IN THE POOL AS OF THE
DETERMINATION DATE 1,570
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 1,631,903.99
TOTAL REPURCHASES INCLUDED IN THIS DISTRIBUTION 0.00
DISTRIBUTION PERCENTAGES:
SENIOR CLASS M CLASS B
CURRENT DISTRIBUTION 88.83320930 % 8.77570000 % 1.73403660 %
PREPAYMENT PERCENT 100.00000000 % 0.00000000 % 0.00000000 %
NEXT DISTRIBUTION 89.31535250 % 8.86257099 % 1.76289580 %
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 9.16070400
ENDING WEIGHTED AVERAGE MATURITY, IN MONTHS 329.73
POOL TRADING FACTOR: 93.78058463
................................................................................
Run: 03/28/97 14:34:08 REPT1B.FRG
Page: 1 of 3
RESIDENTIAL FUNDING CORPORATION (MASTER SERVICER)
RESIDENTIAL ACCREDIT LOANS, INC. (COMPANY)
MORTGAGE ASSET-BACKED PASS-THROUGH CERTIFICATES SERIES 1996-QS7 (POOL # 4228)
STATEMENT TO CERTIFICATEHOLDERS
DISTRIBUTION SUMMARY FOR POOL# 4228
_______________________________________________________________________________
PRINCIPAL CURRENT
ORIGINAL BALANCE BEFORE PASS-THROUGH PRINCIPAL
CLASS CUSIP FACE VALUE DISTRIBUTION RATE DISTRIBUTION
_______________________________________________________________________________
A-I- 76110FDQ3 20,106,154.00 17,796,999.66 7.050000 % 1,298,058.54
A-I- 76110FDR1 43,322,483.00 41,128,786.41 5.775000 % 1,233,155.59
A-I- 76110FDS9 0.00 0.00 3.225000 % 0.00
A-I- 76110FDT7 13,330,948.00 13,330,948.00 7.125000 % 0.00
A-I- 76110FDU4 24,973,716.00 24,973,716.00 7.600000 % 0.00
A-I- 76110FDV2 0.00 0.00 8.000000 % 0.00
A-I- 76110FDW0 1,000,000.00 1,000,000.00 7.700000 % 0.00
A-I- 76110FDX8 9,539,699.00 9,539,699.00 7.700000 % 0.00
A-I- 76110FDY6 22,526,000.00 22,526,000.00 8.000000 % 0.00
A-I- 76110FDZ3 11,650,000.00 11,650,000.00 8.000000 % 0.00
A-I- 76110FEA7 30,421,000.00 30,421,000.00 8.000000 % 0.00
A-I- 76110FEB5 8,619,000.00 8,619,000.00 8.000000 % 0.00
A-II 76110FEC3 20,104,000.00 19,777,268.20 8.000000 % 93,622.06
A-P 76110FED1 601,147.92 595,872.00 0.000000 % 4,926.00
R-I 76110FEE9 100.00 0.00 8.000000 % 0.00
R-II 76110FEF6 100.00 0.00 8.000000 % 0.00
M-1 76110FEG4 9,114,600.00 9,093,056.09 8.000000 % 7,260.15
M-2 76110FEH2 5,126,400.00 5,114,282.88 8.000000 % 4,083.39
M-3 76110FEJ8 3,645,500.00 3,636,883.23 8.000000 % 2,903.79
B-1 1,822,700.00 1,818,391.74 8.000000 % 1,451.86
B-2 569,600.00 568,253.66 8.000000 % 453.71
B-3 1,366,716.75 1,363,486.26 8.000000 % 1,088.64
A-V 76110FGQ0 0.00 0.00 0.823564 % 0.00
- -------------------------------------------------------------------------------
227,839,864.67 222,953,643.13 2,647,003.73
===============================================================================
_______________________________________________________________________________
REMAINING
INTEREST TOTAL DEFERRED REALIZED PRINCIPAL
DISTRIBUTION DISTRIBUTION INTEREST LOSSES BALANCE
_______________________________________________________________________________
A-I-1 104,465.13 1,402,523.67 0.00 0.00 16,498,941.12
A-I-2 197,757.66 1,430,913.25 0.00 0.00 39,895,630.82
A-I-3 110,436.09 110,436.09 0.00 0.00 0.00
A-I-4 79,082.67 79,082.67 0.00 0.00 13,330,948.00
A-I-5 158,027.33 158,027.33 0.00 0.00 24,973,716.00
A-I-6 494.84 494.84 0.00 0.00 0.00
A-I-7 6,411.01 6,411.01 0.00 0.00 1,000,000.00
A-I-8 61,159.07 61,159.07 0.00 0.00 9,539,699.00
A-I-9 150,040.84 150,040.84 0.00 0.00 22,526,000.00
A-I-10 77,598.15 77,598.15 0.00 0.00 11,650,000.00
A-I-11 202,627.75 202,627.75 0.00 0.00 30,421,000.00
A-I-12 57,409.31 57,409.31 0.00 0.00 8,619,000.00
A-II 131,732.13 225,354.19 0.00 0.00 19,683,646.14
A-P 0.00 4,926.00 0.00 0.00 590,946.00
R-I 0.00 0.00 0.00 0.00 0.00
R-II 0.00 0.00 0.00 0.00 0.00
M-1 60,566.89 67,827.04 0.00 0.00 9,085,795.94
M-2 34,065.14 38,148.53 0.00 0.00 5,110,199.49
M-3 24,224.50 27,128.29 0.00 0.00 3,633,979.44
B-1 12,111.92 13,563.78 0.00 0.00 1,816,939.88
B-2 3,785.02 4,238.73 0.00 0.00 567,799.95
B-3 9,081.89 10,170.53 0.00 0.00 1,362,397.62
A-V 152,878.85 152,878.85 0.00 0.00 0.00
- -------------------------------------------------------------------------------
1,633,956.19 4,280,959.92 0.00 0.00 220,306,639.40
===============================================================================
Run: 03/28/97 14:34:08
Page: 2 of 3
RESIDENTIAL FUNDING CORPORATION (MASTER SERVICER)
RESIDENTIAL ACCREDIT LOANS, INC. (COMPANY)
MORTGAGE ASSET-BACKED PASS-THROUGH CERTIFICATES SERIES 1996-QS7 (POOL # 4228)
STATEMENT TO CERTIFICATEHOLDERS
DISTRIBUTION SUMMARY FOR POOL# 4228
_______________________________________________________________________________
AMOUNTS PER $1,000 UNIT
_______________________________________________________________________________
BEGINNING ENDING
BALANCE PRINCIPAL INTEREST TOTAL DEFERRED BALANCE
CLASS FACTOR FACTOR FACTOR DISTRIBUTION INTEREST FACTOR
_______________________________________________________________________________
A-I- 885.151862 64.560261 5.195679 69.755940 0.000000 820.591602
A-I- 949.363554 28.464564 4.564781 33.029345 0.000000 920.898990
A-I- 1000.000000 0.000000 5.932262 5.932262 0.000000 1000.000000
A-I- 1000.000000 0.000000 6.327746 6.327746 0.000000 1000.000000
A-I- 1000.000000 0.000000 6.411010 6.411010 0.000000 1000.000000
A-I- 1000.000000 0.000000 6.411006 6.411006 0.000000 1000.000000
A-I- 1000.000000 0.000000 6.660785 6.660785 0.000000 1000.000000
A-I- 1000.000000 0.000000 6.660785 6.660785 0.000000 1000.000000
A-I- 1000.000000 0.000000 6.660785 6.660785 0.000000 1000.000000
A-I- 1000.000000 0.000000 6.660785 6.660785 0.000000 1000.000000
A-II 983.747921 4.656887 6.552533 11.209420 0.000000 979.091034
A-P 991.223591 8.194323 0.000000 8.194323 0.000000 983.029268
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
M-1 997.636330 0.796541 6.645041 7.441582 0.000000 996.839789
M-2 997.636330 0.796541 6.645041 7.441582 0.000000 996.839788
M-3 997.636327 0.796541 6.645042 7.441583 0.000000 996.839786
B-1 997.636331 0.796544 6.645043 7.441587 0.000000 996.839787
B-2 997.636341 0.796541 6.645049 7.441590 0.000000 996.839800
B-3 997.636313 0.796537 6.645042 7.441579 0.000000 996.839777
_______________________________________________________________________________
DETERMINATION DATE 20-March-97
DISTRIBUTION DATE 25-March-97
Run: 03/28/97 14:34:09 rept2.frg
Page: 3 of 3
RESIDENTIAL FUNDING CORPORATION (MASTER SERVICER)
RESIDENTIAL ACCREDIT LOANS, INC. (COMPANY)
MORTGAGE ASSET-BACKED PASS-THROUGH CERTIFICATES 1996-QS7 (POOL # 4228)
STATEMENT TO CERTIFICATEHOLDERS
ADDITIONAL RELATED INFORMATION FOR POOL 4228
_______________________________________________________________________________
SERVICING COMPENSATION RECEIVED BY SUB-SERVICER 46,321.67
SERVICING COMPENSATION RECEIVED BY MASTER SERVICER 9,612.76
SUBSERVICER ADVANCES THIS MONTH 47,861.73
MASTER SERVICER ADVANCES THIS MONTH 0.00
NUMBER OF PRINCIPAL
DELINQUENCIES: LOANS BALANCE
(A) ONE MONTHLY PAYMENT: 43 4,981,713.99
(B) TWO MONTHLY PAYMENTS: 3 452,363.33
(C) THREE OR MORE MONTHLY PAYMENTS: 1 318,556.90
FORECLOSURES
NUMBER OF LOANS 2
AGGREGATE PRINCIPAL BALANCE 89,968.36
SCHEDULED PRINCIPAL BALANCE OF MORTGAGE LOANS AFTER
DISTRIBUTION 220,306,639.40
AGGREGATE NUMBER OF LOANS IN THE POOL AS OF THE
DETERMINATION DATE 2,054
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 2,468,213.07
TOTAL REPURCHASES INCLUDED IN THIS DISTRIBUTION 0.00
DISTRIBUTION PERCENTAGES:
SENIOR CLASS M CLASS B
CURRENT DISTRIBUTION 90.04715710 % 8.00355700 % 1.68202310 %
PREPAYMENT PERCENT 100.00000000 % 0.00000000 % 0.00000000 %
NEXT DISTRIBUTION 90.17953070 % 8.09325353 % 1.70544830 %
BANKRUPTCY AMOUNT AVAILABLE 100,000.00
FRAUD AMOUNT AVAILABLE 4,556,797.00
SPECIAL HAZARD AMOUNT AVAILABLE 2,278,399.00
ENDING GROSS WEIGHTED AVERAGE INTEREST RATE 9.12946900
ENDING WEIGHTED AVERAGE MATURITY, IN MONTHS 332.42
POOL TRADING FACTOR: 96.69363161
................................................................................
Run: 03/28/97 14:33:18 REPT1B.FRG
Page: 1 of 3
RESIDENTIAL FUNDING CORPORATION (MASTER SERVICER)
RESIDENTIAL ACCREDIT LOANS, INC. (COMPANY)
MORTGAGE ASSET-BACKED PASS-THROUGH CERTIFICATES SERIES 1996-QS8 (POOL # 4231)
STATEMENT TO CERTIFICATEHOLDERS
DISTRIBUTION SUMMARY FOR POOL# 4231
_______________________________________________________________________________
PRINCIPAL CURRENT
ORIGINAL BALANCE BEFORE PASS-THROUGH PRINCIPAL
CLASS CUSIP FACE VALUE DISTRIBUTION RATE DISTRIBUTION
_______________________________________________________________________________
A-1 76110FEK5 4,000,000.00 3,929,508.11 7.400000 % 68,653.96
A-2 76110FEL3 4,074,824.00 3,906,060.46 7.300000 % 164,363.40
A-3 76110FEM1 13,128,206.00 13,128,206.00 7.050000 % 0.00
A-4 76110FEN9 3,765,148.00 3,765,148.00 7.300000 % 0.00
A-5 76110FEP4 10,500,000.00 10,500,000.00 7.400000 % 0.00
A-6 76110FEQ2 2,600,500.00 2,600,500.00 7.400000 % 0.00
A-7 76110FER0 31,579,563.00 31,088,568.19 5.875000 % 478,193.21
A-8 76110FES8 0.00 0.00 3.125000 % 0.00
A-9 76110FET6 32,965,000.00 31,747,405.57 0.000000 % 1,185,848.37
A-10 76110FEU3 20,953,719.00 20,930,064.34 7.400000 % 23,037.92
A-11 76110FEV1 13,975,000.00 13,975,000.00 7.750000 % 0.00
A-12 76110FEW9 2,000,000.00 2,000,000.00 7.750000 % 0.00
A-13 76110FEX7 20,646,958.00 20,646,958.00 7.750000 % 0.00
A-14 76110FEY5 115,824.70 115,384.28 0.000000 % 150.79
R-I 76110FEZ2 100.00 0.00 7.750000 % 0.00
R-II 76110FFA6 100.00 0.00 7.750000 % 0.00
M-1 76110FFB4 6,661,000.00 6,653,229.19 7.750000 % 3,942.93
M-2 76110FFC2 4,440,700.00 4,435,519.42 7.750000 % 2,628.64
M-3 76110FFD0 3,108,500.00 3,104,873.59 7.750000 % 1,840.06
B-1 1,509,500.00 1,507,739.00 7.750000 % 893.54
B-2 444,000.00 443,482.03 7.750000 % 262.82
B-3 1,154,562.90 1,153,215.92 7.750000 % 683.47
A-V 76110FGR8 0.00 0.00 0.913894 % 0.00
- -------------------------------------------------------------------------------
177,623,205.60 175,630,862.10 1,930,499.11
===============================================================================
_______________________________________________________________________________
REMAINING
INTEREST TOTAL DEFERRED REALIZED PRINCIPAL
DISTRIBUTION DISTRIBUTION INTEREST LOSSES BALANCE
_______________________________________________________________________________
A-1 24,225.46 92,879.42 0.00 0.00 3,860,854.15
A-2 23,755.49 188,118.89 0.00 0.00 3,741,697.06
A-3 77,107.49 77,107.49 0.00 0.00 13,128,206.00
A-4 22,898.50 22,898.50 0.00 0.00 3,765,148.00
A-5 64,732.61 64,732.61 0.00 0.00 10,500,000.00
A-6 16,032.11 16,032.11 0.00 0.00 2,600,500.00
A-7 152,163.56 630,356.77 0.00 0.00 30,610,374.98
A-8 80,938.06 80,938.06 0.00 0.00 0.00
A-9 194,205.73 1,380,054.10 0.00 0.00 30,561,557.20
A-10 129,034.06 152,071.98 0.00 0.00 20,907,026.42
A-11 90,230.97 90,230.97 0.00 0.00 13,975,000.00
A-12 12,913.20 12,913.20 0.00 0.00 2,000,000.00
A-13 133,309.12 133,309.12 0.00 0.00 20,646,958.00
A-14 0.00 150.79 0.00 0.00 115,233.49
R-I 0.00 0.00 0.00 0.00 0.00
R-II 0.00 0.00 0.00 0.00 0.00
M-1 42,957.23 46,900.16 0.00 0.00 6,649,286.26
M-2 28,638.37 31,267.01 0.00 0.00 4,432,890.78
M-3 20,046.92 21,886.98 0.00 0.00 3,103,033.53
B-1 9,734.86 10,628.40 0.00 0.00 1,506,845.46
B-2 2,863.38 3,126.20 0.00 0.00 443,219.21
B-3 7,445.85 8,129.32 0.00 0.00 1,152,532.45
A-V 133,720.73 133,720.73 0.00 0.00 0.00
- -------------------------------------------------------------------------------
1,266,953.70 3,197,452.81 0.00 0.00 173,700,362.99
===============================================================================
Run: 03/28/97 14:33:18
Page: 2 of 3
RESIDENTIAL FUNDING CORPORATION (MASTER SERVICER)
RESIDENTIAL ACCREDIT LOANS, INC. (COMPANY)
MORTGAGE ASSET-BACKED PASS-THROUGH CERTIFICATES SERIES 1996-QS8 (POOL # 4231)
STATEMENT TO CERTIFICATEHOLDERS
DISTRIBUTION SUMMARY FOR POOL# 4231
_______________________________________________________________________________
AMOUNTS PER $1,000 UNIT
_______________________________________________________________________________
BEGINNING ENDING
BALANCE PRINCIPAL INTEREST TOTAL DEFERRED BALANCE
CLASS FACTOR FACTOR FACTOR DISTRIBUTION INTEREST FACTOR
_______________________________________________________________________________
A-1 982.377028 17.163491 6.056365 23.219856 0.000000 965.213537
A-2 958.583846 40.336320 5.829820 46.166140 0.000000 918.247526
A-3 1000.000000 0.000000 5.873422 5.873422 0.000000 1000.000000
A-4 1000.000000 0.000000 6.081700 6.081700 0.000000 1000.000000
A-5 1000.000000 0.000000 6.165010 6.165010 0.000000 1000.000000
A-6 1000.000000 0.000000 6.165011 6.165011 0.000000 1000.000000
A-7 984.452134 15.142490 4.818419 19.960909 0.000000 969.309644
A-9 963.064025 35.972952 5.891270 41.864222 0.000000 927.091072
A-10 998.871100 1.099467 6.158051 7.257518 0.000000 997.771633
A-11 1000.000000 0.000000 6.456599 6.456599 0.000000 1000.000000
A-12 1000.000000 0.000000 6.456600 6.456600 0.000000 1000.000000
A-13 1000.000000 0.000000 6.456599 6.456599 0.000000 1000.000000
A-14 996.197530 1.301881 0.000000 1.301881 0.000000 994.895648
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
M-1 998.833387 0.591943 6.449066 7.041009 0.000000 998.241444
M-2 998.833387 0.591943 6.449067 7.041010 0.000000 998.241444
M-3 998.833389 0.591945 6.449065 7.041010 0.000000 998.241444
B-1 998.833389 0.591944 6.449063 7.041007 0.000000 998.241444
B-2 998.833401 0.591937 6.449054 7.040991 0.000000 998.241464
B-3 998.833342 0.591947 6.449064 7.041011 0.000000 998.241373
_______________________________________________________________________________
DETERMINATION DATE 20-March-97
DISTRIBUTION DATE 25-March-97
Run: 03/28/97 14:33:19 rept2.frg
Page: 3 of 3
RESIDENTIAL FUNDING CORPORATION (MASTER SERVICER)
RESIDENTIAL ACCREDIT LOANS, INC. (COMPANY)
MORTGAGE ASSET-BACKED PASS-THROUGH CERTIFICATES 1996-QS8 (POOL # 4231)
STATEMENT TO CERTIFICATEHOLDERS
ADDITIONAL RELATED INFORMATION FOR POOL 4231
_______________________________________________________________________________
SERVICING COMPENSATION RECEIVED BY SUB-SERVICER 36,426.14
SERVICING COMPENSATION RECEIVED BY MASTER SERVICER 3,776.98
SUBSERVICER ADVANCES THIS MONTH 49,046.60
MASTER SERVICER ADVANCES THIS MONTH 0.00
NUMBER OF PRINCIPAL
DELINQUENCIES: LOANS BALANCE
(A) ONE MONTHLY PAYMENT: 42 4,716,847.75
(B) TWO MONTHLY PAYMENTS: 7 1,201,611.34
(C) THREE OR MORE MONTHLY PAYMENTS: 1 63,600.00
FORECLOSURES
NUMBER OF LOANS 2
AGGREGATE PRINCIPAL BALANCE 231,400.00
SCHEDULED PRINCIPAL BALANCE OF MORTGAGE LOANS AFTER
DISTRIBUTION 173,700,362.99
AGGREGATE NUMBER OF LOANS IN THE POOL AS OF THE
DETERMINATION DATE 1,612
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 1,826,357.37
TOTAL REPURCHASES INCLUDED IN THIS DISTRIBUTION 0.00
DISTRIBUTION PERCENTAGES:
SENIOR CLASS M CLASS B
CURRENT DISTRIBUTION 90.14442520 % 8.08682100 % 1.76875400 %
PREPAYMENT PERCENT 100.00000000 % 0.00000000 % 0.00000000 %
NEXT DISTRIBUTION 90.04073230 % 8.16648297 % 1.78736340 %
BANKRUPTCY AMOUNT AVAILABLE 158,130.00
FRAUD AMOUNT AVAILABLE 3,552,464.00
SPECIAL HAZARD AMOUNT AVAILABLE 1,776,232.00
ENDING GROSS WEIGHTED AVERAGE INTEREST RATE 8.98494997
ENDING WEIGHTED AVERAGE MATURITY, IN MONTHS 351.15
POOL TRADING FACTOR: 97.79148079
................................................................................
Run: 03/28/97 14:33:32 REPT1B.FRG
Page: 1 of 3
RESIDENTIAL FUNDING CORPORATION (MASTER SERVICER)
RESIDENTIAL FUNDING MORTGAGE SECURITIES I, INC. (COMPANY)
MORTGAGE PASS-THROUGH CERTIFICATES SERIES 1997-QS1 (POOL # 4237)
STATEMENT TO CERTIFICATEHOLDERS
DISTRIBUTION SUMMARY FOR POOL# 4237
_______________________________________________________________________________
PRINCIPAL CURRENT
ORIGINAL BALANCE BEFORE PASS-THROUGH PRINCIPAL
CLASS CUSIP FACE VALUE DISTRIBUTION RATE DISTRIBUTION
_______________________________________________________________________________
A-1 76110FFE8 33,258,000.00 33,258,000.00 6.750000 % 764,163.67
A-2 76110FFF5 10,146,000.00 10,146,000.00 6.750000 % 179,803.22
A-3 76110FFG3 24,816,000.00 24,816,000.00 6.750000 % 0.00
A-4 76110FFH1 15,938,000.00 15,938,000.00 6.750000 % 0.00
A-5 76110FFJ7 10,253,000.00 10,253,000.00 6.750000 % 0.00
A-6 76110FFK4 31,511,646.00 31,511,646.00 11.000000 % 202,278.61
A-7 76110FFL2 17,652,000.00 17,652,000.00 6.750000 % 0.00
A-8 76110FFM0 5,655,589.00 5,655,589.00 6.750000 % 0.00
A-9 76110FFN8 19,068,000.00 19,068,000.00 6.750000 % 0.00
A-10 76110FFP3 10,267,765.00 10,267,765.00 6.750000 % 0.00
A-11 76110FFQ1 47,506,000.00 47,506,000.00 7.500000 % 0.00
A-12 76110FFR9 212,947.62 212,947.62 0.000000 % 241.19
A-13 76110FFS7 0.00 0.00 0.980079 % 0.00
R 76110FFT5 100.00 100.00 7.500000 % 100.00
M-1 76110FFV0 9,377,000.00 9,377,000.00 7.500000 % 5,542.89
M-2 76110FFW8 6,251,000.00 6,251,000.00 7.500000 % 3,695.06
M-3 76110FFX6 4,375,700.00 4,375,700.00 7.500000 % 2,586.54
B-1 1,624,900.00 1,624,900.00 7.500000 % 960.50
B-2 624,800.00 624,800.00 7.500000 % 369.33
B-3 1,500,282.64 1,500,282.64 7.500000 % 886.77
- -------------------------------------------------------------------------------
250,038,730.26 250,038,730.26 1,160,627.78
===============================================================================
_______________________________________________________________________________
REMAINING
INTEREST TOTAL DEFERRED REALIZED PRINCIPAL
DISTRIBUTION DISTRIBUTION INTEREST LOSSES BALANCE
_______________________________________________________________________________
A-1 186,917.79 951,081.46 0.00 0.00 32,493,836.33
A-2 57,022.91 236,826.13 0.00 0.00 9,966,196.78
A-3 139,471.76 139,471.76 0.00 0.00 24,816,000.00
A-4 89,575.31 89,575.31 0.00 0.00 15,938,000.00
A-5 57,624.28 57,624.28 0.00 0.00 10,253,000.00
A-6 288,612.09 490,890.70 0.00 0.00 31,309,367.39
A-7 99,208.40 99,208.40 0.00 0.00 17,652,000.00
A-8 31,785.74 31,785.74 0.00 0.00 5,655,589.00
A-9 107,166.65 107,166.65 0.00 0.00 19,068,000.00
A-10 57,707.26 57,707.26 0.00 0.00 10,267,765.00
A-11 296,661.01 296,661.01 0.00 0.00 47,506,000.00
A-12 0.00 241.19 0.00 0.00 212,706.43
A-13 204,041.70 204,041.70 0.00 0.00 0.00
R 0.63 100.63 0.00 0.00 0.00
M-1 58,556.61 64,099.50 0.00 0.00 9,371,457.11
M-2 39,035.66 42,730.72 0.00 0.00 6,247,304.94
M-3 27,324.97 29,911.51 0.00 0.00 4,373,113.46
B-1 10,147.03 11,107.53 0.00 0.00 1,623,939.50
B-2 3,901.69 4,271.02 0.00 0.00 624,430.67
B-3 9,368.83 10,255.60 0.00 0.00 1,499,395.79
- -------------------------------------------------------------------------------
1,764,130.32 2,924,758.10 0.00 0.00 248,878,102.40
===============================================================================
Run: 03/28/97 14:33:32
Page: 2 of 3
RESIDENTIAL FUNDING CORPORATION (MASTER SERVICER)
RESIDENTIAL FUNDING MORTGAGE SECURITIES I, INC. (COMPANY)
MORTGAGE PASS-THROUGH CERTIFICATES SERIES 1997-QS1 (POOL # 4237)
STATEMENT TO CERTIFICATEHOLDERS
DISTRIBUTION SUMMARY FOR POOL# 4237
_______________________________________________________________________________
AMOUNTS PER $1,000 UNIT
_______________________________________________________________________________
BEGINNING ENDING
BALANCE PRINCIPAL INTEREST TOTAL DEFERRED BALANCE
CLASS FACTOR FACTOR FACTOR DISTRIBUTION INTEREST FACTOR
_______________________________________________________________________________
A-1 1000.000000 22.976838 5.620235 28.597073 0.000000 977.023162
A-2 1000.000000 17.721587 5.620236 23.341823 0.000000 982.278413
A-3 1000.000000 0.000000 5.620235 5.620235 0.000000 1000.000000
A-4 1000.000000 0.000000 5.620235 5.620235 0.000000 1000.000000
A-5 1000.000000 0.000000 5.620236 5.620236 0.000000 1000.000000
A-6 1000.000000 6.419170 9.158902 15.578072 0.000000 993.580830
A-7 1000.000000 0.000000 5.620236 5.620236 0.000000 1000.000000
A-8 1000.000000 0.000000 5.620235 5.620235 0.000000 1000.000000
A-9 1000.000000 0.000000 5.620235 5.620235 0.000000 1000.000000
A-10 1000.000000 0.000000 5.620236 5.620236 0.000000 1000.000000
A-11 1000.000000 0.000000 6.244706 6.244706 0.000000 1000.000000
A-12 1000.000000 1.132626 0.000000 1.132626 0.000000 998.867374
R 1000.000000 1000.00000 6.300000 1006.300000 0.000000 0.000000
M-1 1000.000000 0.591115 6.244706 6.835821 0.000000 999.408885
M-2 1000.000000 0.591115 6.244706 6.835821 0.000000 999.408885
M-3 1000.000000 0.591115 6.244708 6.835823 0.000000 999.408885
B-1 1000.000000 0.591113 6.244710 6.835823 0.000000 999.408887
B-2 1000.000000 0.591117 6.244702 6.835819 0.000000 999.408883
B-3 1000.000000 0.591069 6.244710 6.835779 0.000000 999.408878
_______________________________________________________________________________
DETERMINATION DATE 20-March-97
DISTRIBUTION DATE 25-March-97
Run: 03/28/97 14:33:33 rept2.frg
Page: 3 of 3
RESIDENTIAL FUNDING CORPORATION (MASTER SERVICER)
RESIDENTIAL FUNDING MORTGAGE SECURITIES I, INC. (COMPANY)
MORTGAGE PASS-THROUGH CERTIFICATES 1997-QS1 (POOL # 4237)
STATEMENT TO CERTIFICATEHOLDERS
ADDITIONAL RELATED INFORMATION FOR POOL 4237
_______________________________________________________________________________
SERVICING COMPENSATION RECEIVED BY SUB-SERVICER 52,428.22
SERVICING COMPENSATION RECEIVED BY MASTER SERVICER 16,354.24
SUBSERVICER ADVANCES THIS MONTH 52,858.92
MASTER SERVICER ADVANCES THIS MONTH 0.00
NUMBER OF PRINCIPAL
DELINQUENCIES: LOANS BALANCE
(A) ONE MONTHLY PAYMENT: 68 6,845,872.14
(B) TWO MONTHLY PAYMENTS: 0 0.00
(C) THREE OR MORE MONTHLY PAYMENTS: 0 0.00
FORECLOSURES
NUMBER OF LOANS 0
AGGREGATE PRINCIPAL BALANCE 0.00
SCHEDULED PRINCIPAL BALANCE OF MORTGAGE LOANS AFTER
DISTRIBUTION 248,878,102.40
AGGREGATE NUMBER OF LOANS IN THE POOL AS OF THE
DETERMINATION DATE 2,268
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 1,012,750.21
TOTAL REPURCHASES INCLUDED IN THIS DISTRIBUTION 0.00
DISTRIBUTION PERCENTAGES:
SENIOR CLASS M CLASS B
CURRENT DISTRIBUTION 90.49190100 % 8.00706000 % 1.50103910 %
PREPAYMENT PERCENT 100.00000000 % 0.00000000 % 0.00000000 %
NEXT DISTRIBUTION 90.45317850 % 8.03279811 % 1.50715220 %
BANKRUPTCY AMOUNT AVAILABLE 182,005.00
FRAUD AMOUNT AVAILABLE 5,000,775.00
SPECIAL HAZARD AMOUNT AVAILABLE 2,500,387.00
ENDING GROSS WEIGHTED AVERAGE INTEREST RATE 8.80412829
ENDING WEIGHTED AVERAGE MATURITY, IN MONTHS 355.72
POOL TRADING FACTOR: 99.53582077
................................................................................
