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)
June 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
See the respective monthly reports, each reflecting the
required information for the June 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
1997-QS2 RALI
1997-QS3 RALI
1997-QS3 RALI
1997-QS4 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: June 25, 1997
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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 0.00 6.600000 % 0.00
A-2 76110FAB9 82,500,000.00 71,156,353.72 6.900000 % 3,618,050.03
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 2,286,313.66 0.000000 % 0.00
- -------------------------------------------------------------------------------
258,459,514.42 194,901,667.38 3,618,050.03
===============================================================================
_______________________________________________________________________________
REMAINING
INTEREST TOTAL DEFERRED REALIZED PRINCIPAL
DISTRIBUTION DISTRIBUTION INTEREST LOSSES BALANCE
_______________________________________________________________________________
A-1 0.00 0.00 0.00 0.00 0.00
A-2 409,149.03 4,027,199.06 0.00 0.00 67,538,303.69
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 244,472.85 244,472.85 39,821.97 0.00 2,326,135.63
- -------------------------------------------------------------------------------
1,409,032.30 5,027,082.33 39,821.97 0.00 191,323,439.32
===============================================================================
_______________________________________________________________________________
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-2 862.501257 43.855152 4.959382 48.814534 0.000000 818.646105
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-June-97
DISTRIBUTION DATE 25-June-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 40,011.85
SERVICING COMPENSATION RECEIVED BY MASTER SERVICER 2,205.85
SUBSERVICER ADVANCES THIS MONTH 80,683.69
MASTER SERVICER ADVANCES THIS MONTH 8,881.22
NUMBER OF PRINCIPAL
DELINQUENCIES: LOANS BALANCE
(A) ONE MONTHLY PAYMENT: 38 4,044,117.08
(B) TWO MONTHLY PAYMENTS: 31 2,249,440.43
(C) THREE OR MORE MONTHLY PAYMENTS: 3 460,526.76
FORECLOSURES
NUMBER OF LOANS 17
AGGREGATE PRINCIPAL BALANCE 2,537,005.09
SCHEDULED PRINCIPAL BALANCE OF MORTGAGE LOANS AFTER
DISTRIBUTION 191,323,439.32
AGGREGATE NUMBER OF LOANS IN THE POOL AS OF THE
DETERMINATION DATE 2,055
NUMBER OF REO LOANS ACQUIRED
INCLUDING ANY PENDING CASH LIQUIDATIONS 5
BOOK VALUE OF REAL ESTATE ACQUIRED THROUGH
FORECLOSURE OR GRANT OF A DEED IN LIEU OF
FORECLOSURE, INCLUDING ANY PENDING CASH LIQUIDATIONS 1,096,237.74
REMAINING SUBCLASS INTEREST SHORTFALL 0.00
CLASS A SHORTFALL (PRINCIPAL) 0.00
CLASS A SHORTFALL (INTEREST) 0.00
TOTAL PREPAYMENTS INCLUDED IN THIS DISTRIBUTION 3,390,076.99
TOTAL REPURCHASES INCLUDED IN THIS DISTRIBUTION 0.00
DISTRIBUTION PERCENTAGES:
SENIOR SUBORDINATE
PERCENTAGE FOR CURRENT DISTRIBUTION 98.82693990 % 1.17306010 %
CURRENT PREPAYMENT PERCENTAGE 100.00000000 % 0.00000000 %
PERCENTAGE FOR NEXT DISTRIBUTION 98.78418680 % 1.21581320 %
BANKRUPTCY AMOUNT AVAILABLE 0.00
FRAUD AMOUNT AVAILABLE 0.00
SPECIAL HAZARD AMOUNT AVAILABLE 0.00
ENDING GROSS WEIGHTED AVERAGE INTEREST RATE 9.33260228
ENDING WEIGHTED AVERAGE MATURITY, IN MONTHS 310.81
POOL TRADING FACTOR: 74.02452943
................................................................................
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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 4,287,923.79 6.000000 % 4,287,923.79
A-I- 76110FAH6 67,186,000.00 67,186,000.00 6.250000 % 73,611.43
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 17,367,811.77 6.090000 % 332,374.12
R 0.53 2,026,594.48 0.000000 % 0.00
- -------------------------------------------------------------------------------
255,942,104.53 198,234,466.04 4,693,909.34
===============================================================================
_______________________________________________________________________________
REMAINING
INTEREST TOTAL DEFERRED REALIZED PRINCIPAL
DISTRIBUTION DISTRIBUTION INTEREST LOSSES BALANCE
_______________________________________________________________________________
A-I-1 21,439.62 4,309,363.41 0.00 0.00 0.00
A-I-2 349,927.08 423,538.51 0.00 0.00 67,112,388.57
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 91,079.70 423,453.82 0.00 0.00 17,035,437.65
R 346,258.07 346,258.07 0.00 0.00 2,026,594.48
- -------------------------------------------------------------------------------
1,427,094.72 6,121,004.06 0.00 0.00 193,540,556.70
===============================================================================
_______________________________________________________________________________
AMOUNTS PER $1,000 UNIT
_______________________________________________________________________________
BEGINNING ENDING
BALANCE PRINCIPAL INTEREST TOTAL DEFERRED BALANCE
CLASS FACTOR FACTOR FACTOR DISTRIBUTION INTEREST FACTOR
_______________________________________________________________________________
A-I- 82.436293 82.436293 0.412181 82.848474 0.000000 0.000000
A-I- 1000.000000 1.095636 5.208333 6.303969 0.000000 998.904364
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 591.245300 11.314876 3.100589 14.415465 0.000000 579.930424
_______________________________________________________________________________
DETERMINATION DATE 20-June-97
DISTRIBUTION DATE 25-June-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 42,557.39
SERVICING COMPENSATION RECEIVED BY MASTER SERVICER 0.00
SUBSERVICER ADVANCES THIS MONTH 71,751.26
MASTER SERVICER ADVANCES THIS MONTH 2,681.81
NUMBER OF PRINCIPAL
DELINQUENCIES: LOANS BALANCE
(A) ONE MONTHLY PAYMENT: 23 2,696,292.95
(B) TWO MONTHLY PAYMENTS: 7 1,283,354.56
(C) THREE OR MORE MONTHLY PAYMENTS: 3 724,019.13
FORECLOSURES
NUMBER OF LOANS 23
AGGREGATE PRINCIPAL BALANCE 4,395,868.09
SCHEDULED PRINCIPAL BALANCE OF MORTGAGE LOANS AFTER
DISTRIBUTION 193,540,556.70
AGGREGATE NUMBER OF LOANS IN THE POOL AS OF THE
DETERMINATION DATE 1,589
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 305,118.31
REMAINING SUBCLASS INTEREST SHORTFALL 0.00
CLASS A SHORTFALL (PRINCIPAL) 0.00
CLASS A SHORTFALL (INTEREST) 0.00
TOTAL PREPAYMENTS INCLUDED IN THIS DISTRIBUTION 4,520,629.26
TOTAL REPURCHASES INCLUDED IN THIS DISTRIBUTION 0.00
DISTRIBUTION PERCENTAGES:
SENIOR SUBORDINATE
PERCENTAGE FOR CURRENT DISTRIBUTION 98.97767800 % 1.02232200 %
CURRENT PREPAYMENT PERCENTAGE 100.00000000 % 0.00000000 %
PERCENTAGE FOR NEXT DISTRIBUTION 98.95288380 % 1.04711620 %
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 8.98998100
ENDING WEIGHTED AVERAGE MATURITY, IN MONTHS 320.57
POOL TRADING FACTOR: 75.61888149
................................................................................
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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 16,397,986.69 6.400000 % 1,135,832.14
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 178,007.00 174,145.64 0.000000 % 244.23
R 0.00 1,936,942.35 0.000000 % 0.00
- -------------------------------------------------------------------------------
181,911,418.00 160,242,485.68 1,136,076.37
===============================================================================
_______________________________________________________________________________
REMAINING
INTEREST TOTAL DEFERRED REALIZED PRINCIPAL
DISTRIBUTION DISTRIBUTION INTEREST LOSSES BALANCE
_______________________________________________________________________________
A-1 87,455.93 1,223,288.07 0.00 0.00 15,262,154.55
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 0.00 244.23 0.00 0.00 173,901.41
R 292,449.31 292,449.31 0.00 0.00 1,819,114.18
- -------------------------------------------------------------------------------
1,235,176.55 2,371,252.92 0.00 0.00 158,988,581.14
===============================================================================
_______________________________________________________________________________
AMOUNTS PER $1,000 UNIT
_______________________________________________________________________________
BEGINNING ENDING
BALANCE PRINCIPAL INTEREST TOTAL DEFERRED BALANCE
CLASS FACTOR FACTOR FACTOR DISTRIBUTION INTEREST FACTOR
_______________________________________________________________________________
A-1 409.949667 28.395804 2.186398 30.582202 0.000000 381.553864
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-10 978.307819 1.372025 0.000000 1.372025 0.000000 976.935795
_______________________________________________________________________________
DETERMINATION DATE 20-June-97
DISTRIBUTION DATE 25-June-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 33,433.13
SERVICING COMPENSATION RECEIVED BY MASTER SERVICER 7,142.87
SUBSERVICER ADVANCES THIS MONTH 54,811.23
MASTER SERVICER ADVANCES THIS MONTH 1,205.50
NUMBER OF PRINCIPAL
DELINQUENCIES: LOANS BALANCE
(A) ONE MONTHLY PAYMENT: 26 3,723,003.81
(B) TWO MONTHLY PAYMENTS: 3 560,853.08
(C) THREE OR MORE MONTHLY PAYMENTS: 4 585,652.63
FORECLOSURES
NUMBER OF LOANS 11
AGGREGATE PRINCIPAL BALANCE 2,274,020.33
SCHEDULED PRINCIPAL BALANCE OF MORTGAGE LOANS AFTER
DISTRIBUTION 158,988,581.14
AGGREGATE NUMBER OF LOANS IN THE POOL AS OF THE
DETERMINATION DATE 1,489
NUMBER OF REO LOANS ACQUIRED
INCLUDING ANY PENDING CASH LIQUIDATIONS 2
BOOK VALUE OF REAL ESTATE ACQUIRED THROUGH
FORECLOSURE OR GRANT OF A DEED IN LIEU OF
FORECLOSURE, INCLUDING ANY PENDING CASH LIQUIDATIONS 153,773.89
REMAINING SUBCLASS INTEREST SHORTFALL 0.00
CLASS A SHORTFALL (PRINCIPAL) 0.00
CLASS A SHORTFALL (INTEREST) 0.00
TOTAL PREPAYMENTS INCLUDED IN THIS DISTRIBUTION 1,112,820.62
TOTAL REPURCHASES INCLUDED IN THIS DISTRIBUTION 0.00
DISTRIBUTION PERCENTAGES:
SENIOR SUBORDINATE
PERCENTAGE FOR CURRENT DISTRIBUTION 98.79124300 % 1.20875710 %
CURRENT PREPAYMENT PERCENTAGE 100.00000000 % 0.00000000 %
PERCENTAGE FOR NEXT DISTRIBUTION 98.85582090 % 1.14417910 %
BANKRUPTCY AMOUNT AVAILABLE 0.00
FRAUD AMOUNT AVAILABLE 0.00
SPECIAL HAZARD AMOUNT AVAILABLE 0.00
ENDING GROSS WEIGHTED AVERAGE INTEREST RATE 8.78554463
ENDING WEIGHTED AVERAGE MATURITY, IN MONTHS 325.71
POOL TRADING FACTOR: 87.39890156
................................................................................
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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 21,510,180.23 6.780000 % 1,984,745.95
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 22,011,575.80 7.250000 % 277,878.33
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 18,725,110.08 7.750000 % 233,236.28
A-P 76110FBQ5 1,166,695.86 1,109,515.80 0.000000 % 4,897.15
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 12,403,644.58 7.750000 % 10,745.80
M-2 76110FBU6 5,568,000.00 5,512,510.91 7.750000 % 4,775.72
M-3 76110FBV4 4,176,000.00 4,134,383.19 7.750000 % 3,581.79
B-1 1,809,600.00 1,791,566.05 7.750000 % 1,552.11
B-2 696,000.00 689,063.86 7.750000 % 596.96
B-3 1,670,738.96 1,654,088.81 7.750000 % 1,433.01
SPRE 0.00 0.00 0.730835 % 0.00
A-V 7611OFHY2 0.00 0.00 0.000000 % 0.00
- -------------------------------------------------------------------------------
278,404,734.82 251,924,201.31 2,523,443.10
===============================================================================
_______________________________________________________________________________
REMAINING
INTEREST TOTAL DEFERRED REALIZED PRINCIPAL
DISTRIBUTION DISTRIBUTION INTEREST LOSSES BALANCE
_______________________________________________________________________________
A-I-1 121,482.88 2,106,228.83 0.00 0.00 19,525,434.28
A-I-2 154,853.39 154,853.39 0.00 0.00 26,000,000.00
A-I-3 64,344.41 64,344.41 0.00 0.00 10,596,000.00
A-I-4 132,932.28 410,810.61 0.00 0.00 21,733,697.47
A-I-5 115,501.98 115,501.98 0.00 0.00 18,587,000.00
A-I-6 140,062.77 140,062.77 0.00 0.00 21,696,000.00
A-I-7 51,948.98 51,948.98 0.00 0.00 8,047,000.00
A-I-8 112,561.51 112,561.51 0.00 0.00 17,436,000.00
A-I-9 162,328.46 162,328.46 0.00 0.00 25,145,000.00
A-I-10 122,658.21 122,658.21 0.00 0.00 19,000,000.00
A-I-11 102,487.79 102,487.79 0.00 0.00 15,875,562.00
A-II 120,883.60 354,119.88 0.00 0.00 18,491,873.80
A-P 0.00 4,897.15 0.00 0.00 1,104,618.65
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 80,074.15 90,819.95 0.00 0.00 12,392,898.78
M-2 35,587.09 40,362.81 0.00 0.00 5,507,735.19
M-3 26,690.31 30,272.10 0.00 0.00 4,130,801.40
B-1 11,565.80 13,117.91 0.00 0.00 1,790,013.94
B-2 4,448.38 5,045.34 0.00 0.00 688,466.90
B-3 10,678.30 12,111.31 0.00 0.00 1,652,655.81
SPRED 153,366.50 153,366.50 0.00 0.00 0.00
A-V 48,092.89 48,092.89 0.00 0.00 0.00
- -------------------------------------------------------------------------------
1,772,549.68 4,295,992.78 0.00 0.00 249,400,758.22
===============================================================================
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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- 501.929302 46.313054 2.834742 49.147796 0.000000 455.616247
A-I- 1000.000000 0.000000 5.955900 5.955900 0.000000 1000.000000
A-I- 1000.000000 0.000000 6.072519 6.072519 0.000000 1000.000000
A-I- 880.463032 11.115133 5.317291 16.432424 0.000000 869.347899
A-I- 1000.000000 0.000000 6.214127 6.214127 0.000000 1000.000000
A-I- 1000.000000 0.000000 6.455696 6.455696 0.000000 1000.000000
A-I- 1000.000000 0.000000 6.455695 6.455695 0.000000 1000.000000
A-I- 1000.000000 0.000000 6.455696 6.455696 0.000000 1000.000000
A-I- 1000.000000 0.000000 6.455695 6.455695 0.000000 1000.000000
A-I- 1000.000000 0.000000 6.455695 6.455695 0.000000 1000.000000
A-I- 1000.000000 0.000000 6.455695 6.455695 0.000000 1000.000000
A-II 911.133814 11.348903 5.882002 17.230905 0.000000 899.784910
A-P 950.989746 4.197451 0.000000 4.197451 0.000000 946.792295
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-1 990.034288 0.857708 6.391360 7.249068 0.000000 989.176580
M-2 990.034287 0.857708 6.391360 7.249068 0.000000 989.176579
M-3 990.034289 0.857708 6.391358 7.249066 0.000000 989.176581
B-1 990.034289 0.857709 6.391357 7.249066 0.000000 989.176581
B-2 990.034282 0.857701 6.391351 7.249052 0.000000 989.176581
B-3 990.034260 0.857710 6.391363 7.249073 0.000000 989.176555
_______________________________________________________________________________
DETERMINATION DATE 20-June-97
DISTRIBUTION DATE 25-June-97
Run: 06/30/97 14:51:23 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 52,700.04
SERVICING COMPENSATION RECEIVED BY MASTER SERVICER 10,054.04
SUBSERVICER ADVANCES THIS MONTH 42,290.83
MASTER SERVICER ADVANCES THIS MONTH 0.00
NUMBER OF PRINCIPAL
DELINQUENCIES: LOANS BALANCE
(A) ONE MONTHLY PAYMENT: 21 1,815,176.93
(B) TWO MONTHLY PAYMENTS: 8 1,675,275.20
(C) THREE OR MORE MONTHLY PAYMENTS: 2 329,885.38
FORECLOSURES
NUMBER OF LOANS 10
AGGREGATE PRINCIPAL BALANCE 1,472,340.48
SCHEDULED PRINCIPAL BALANCE OF MORTGAGE LOANS AFTER
DISTRIBUTION 249,400,758.22
AGGREGATE NUMBER OF LOANS IN THE POOL AS OF THE
DETERMINATION DATE 2,234
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 2,302,969.90
TOTAL REPURCHASES INCLUDED IN THIS DISTRIBUTION 0.00
DISTRIBUTION PERCENTAGES:
SENIOR CLASS M CLASS B
CURRENT DISTRIBUTION 89.16548190 % 8.75284700 % 1.64125510 %
PREPAYMENT PERCENT 89.51977360 % 0.00000000 % 10.48022640 %
NEXT DISTRIBUTION 89.46315800 % 8.83374835 % 1.66379420 %
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 8.77537600
ENDING WEIGHTED AVERAGE MATURITY, IN MONTHS 0.00
POOL TRADING FACTOR: 89.58208214
................................................................................
Run: 06/30/97 14:51:23 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 28,703,100.80 6.850000 % 1,868,956.75
A-I- 76110FBX0 26,945,000.00 20,634,386.94 11.000000 % 685,278.71
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 14,466,363.93 7.250000 % 441,717.15
A-II 76110FCH4 8,580,000.00 8,580,000.00 7.650000 % 0.00
A-P 76110FCJ0 3,039,637.99 2,888,430.59 0.000000 % 65,677.88
A-V 76110FGN7 0.00 0.00 0.772934 % 0.00
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 13,120,284.05 8.000000 % 12,462.12
M-2 76110FCN1 5,570,800.00 5,524,392.74 8.000000 % 5,247.27
M-3 76110FCP6 4,456,600.00 4,419,474.54 8.000000 % 4,197.78
B-1 76110FCR2 2,228,400.00 2,209,836.44 8.000000 % 2,098.98
B-2 76110FCS0 696,400.00 690,598.68 8.000000 % 655.96
B-3 76110FCT8 1,671,255.97 1,657,333.67 8.000000 % 1,574.20
STRI 0.00 0.00 0.113945 % 0.00
- -------------------------------------------------------------------------------
278,535,793.96 253,076,202.38 3,087,866.80
===============================================================================
_______________________________________________________________________________
REMAINING
INTEREST TOTAL DEFERRED REALIZED PRINCIPAL
DISTRIBUTION DISTRIBUTION INTEREST LOSSES BALANCE
_______________________________________________________________________________
A-I-1 163,764.47 2,032,721.22 0.00 0.00 26,834,144.05
A-I-2 189,053.43 874,332.14 0.00 0.00 19,949,108.23
A-I-3 95,131.96 95,131.96 0.00 0.00 15,646,000.00
A-I-4 204,522.09 204,522.09 0.00 0.00 32,740,000.00
A-I-5 64,281.91 64,281.91 0.00 0.00 10,023,000.00
A-I-6 178,650.11 178,650.11 0.00 0.00 26,811,000.00
A-I-7 120,246.17 120,246.17 0.00 0.00 18,046,000.00
A-I-8 60,596.18 60,596.18 0.00 0.00 9,094,000.00
A-I-9 68,525.52 68,525.52 0.00 0.00 10,284,000.00
A-I-10 181,200.66 181,200.66 0.00 0.00 27,538,000.00
A-II-1 87,357.00 529,074.15 0.00 0.00 14,024,646.78
A-II-2 54,669.99 54,669.99 0.00 0.00 8,580,000.00
A-P 0.00 65,677.88 0.00 0.00 2,822,752.71
A-V 162,927.29 162,927.29 0.00 0.00 0.00
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 87,424.57 99,886.69 0.00 0.00 13,107,821.93
M-2 36,810.76 42,058.03 0.00 0.00 5,519,145.47
M-3 29,448.34 33,646.12 0.00 0.00 4,415,276.76
B-1 14,724.83 16,823.81 0.00 0.00 2,207,737.46
B-2 4,601.67 5,257.63 0.00 0.00 689,942.72
B-3 11,043.33 12,617.53 0.00 0.00 1,655,759.46
STRIP 15,026.67 15,026.67 0.00 0.00 0.00
- -------------------------------------------------------------------------------
1,830,006.95 4,917,873.75 0.00 0.00 249,988,335.57
===============================================================================
Run: 06/30/97 14:51:23
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- 625.149209 40.705596 3.566765 44.272361 0.000000 584.443613
A-I- 765.796509 25.432500 7.016271 32.448771 0.000000 740.364009
A-I- 1000.000000 0.000000 6.080274 6.080274 0.000000 1000.000000
A-I- 1000.000000 0.000000 6.246857 6.246857 0.000000 1000.000000
A-I- 1000.000000 0.000000 6.413440 6.413440 0.000000 1000.000000
A-I- 1000.000000 0.000000 6.663314 6.663314 0.000000 1000.000000
A-I- 1000.000000 0.000000 6.663314 6.663314 0.000000 1000.000000
A-I- 1000.000000 0.000000 6.663314 6.663314 0.000000 1000.000000
A-I- 1000.000000 0.000000 6.663314 6.663314 0.000000 1000.000000
A-I- 1000.000000 0.000000 6.580023 6.580023 0.000000 1000.000000
A-II 902.962607 27.571135 5.452656 33.023791 0.000000 875.391472
A-II 1000.000000 0.000000 6.371794 6.371794 0.000000 1000.000000
A-P 950.254800 21.607140 0.000000 21.607140 0.000000 928.647660
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-1 991.669555 0.941924 6.607805 7.549729 0.000000 990.727632
M-2 991.669552 0.941924 6.607805 7.549729 0.000000 990.727628
M-3 991.669555 0.941924 6.607804 7.549728 0.000000 990.727631
B-1 991.669557 0.941922 6.607804 7.549726 0.000000 990.727634
B-2 991.669558 0.941930 6.607797 7.549727 0.000000 990.727628
B-3 991.669559 0.941926 6.607803 7.549729 0.000000 990.727628
_______________________________________________________________________________
DETERMINATION DATE 20-June-97
DISTRIBUTION DATE 25-June-97
Run: 06/30/97 14:51:24 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 52,486.78
SERVICING COMPENSATION RECEIVED BY MASTER SERVICER 6,651.19
SUBSERVICER ADVANCES THIS MONTH 58,351.71
MASTER SERVICER ADVANCES THIS MONTH 2,174.09
NUMBER OF PRINCIPAL
DELINQUENCIES: LOANS BALANCE
(A) ONE MONTHLY PAYMENT: 46 4,970,297.08
(B) TWO MONTHLY PAYMENTS: 6 646,266.82
(C) THREE OR MORE MONTHLY PAYMENTS: 0 0.00
FORECLOSURES
NUMBER OF LOANS 11
AGGREGATE PRINCIPAL BALANCE 1,494,567.63
SCHEDULED PRINCIPAL BALANCE OF MORTGAGE LOANS AFTER
DISTRIBUTION 249,988,335.57
AGGREGATE NUMBER OF LOANS IN THE POOL AS OF THE
DETERMINATION DATE 2,442
NUMBER OF REO LOANS ACQUIRED
INCLUDING ANY PENDING CASH LIQUIDATIONS 3
BOOK VALUE OF REAL ESTATE ACQUIRED THROUGH
FORECLOSURE OR GRANT OF A DEED IN LIEU OF
FORECLOSURE, INCLUDING ANY PENDING CASH LIQUIDATIONS 263,313.22
REMAINING SUBCLASS INTEREST SHORTFALL 0.00
CLASS A SHORTFALL (PRINCIPAL) 0.00
CLASS A SHORTFALL (INTEREST) 0.00
TOTAL PREPAYMENTS INCLUDED IN THIS DISTRIBUTION 2,843,025.40
TOTAL REPURCHASES INCLUDED IN THIS DISTRIBUTION 0.00
DISTRIBUTION PERCENTAGES:
SENIOR CLASS M CLASS B
CURRENT DISTRIBUTION 87.94420400 % 9.11352000 % 1.80094720 %
PREPAYMENT PERCENT 100.00000000 % 0.00000000 % 0.00000000 %
NEXT DISTRIBUTION 88.83514300 % 9.21732772 % 1.84226280 %
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 9.00951100
ENDING WEIGHTED AVERAGE MATURITY, IN MONTHS 318.68
POOL TRADING FACTOR: 89.75088337
................................................................................
Run: 06/30/97 14:50:37 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 138,145,180.00 113,699,264.86 6.047500 % 3,550,430.36
R 973,833.13 2,417,755.56 0.000000 % 0.00
- -------------------------------------------------------------------------------
139,119,013.13 116,117,020.42 3,550,430.36
===============================================================================
_______________________________________________________________________________
REMAINING
INTEREST TOTAL DEFERRED REALIZED PRINCIPAL
DISTRIBUTION DISTRIBUTION INTEREST LOSSES BALANCE
_______________________________________________________________________________
A 552,843.58 4,103,273.94 0.00 0.00 110,148,834.50
R 0.00 0.00 171,128.14 0.00 2,588,883.70
- -------------------------------------------------------------------------------
552,843.58 4,103,273.94 171,128.14 0.00 112,737,718.20
===============================================================================
_______________________________________________________________________________
AMOUNTS PER $1,000 UNIT
_______________________________________________________________________________
BEGINNING ENDING
BALANCE PRINCIPAL INTEREST TOTAL DEFERRED BALANCE
CLASS FACTOR FACTOR FACTOR DISTRIBUTION INTEREST FACTOR
_______________________________________________________________________________
A 823.041852 25.700718 4.001903 29.702621 0.000000 797.341134
R 2482.720587 0.000000 0.000000 0.000000 175.726349 2658.446936
_______________________________________________________________________________
DETERMINATION DATE 20-June-97
DISTRIBUTION DATE 25-June-97
Run: 06/30/97 14:50:37 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 34,923.61
SERVICING COMPENSATION RECEIVED BY MASTER SERVICER 0.00
SUBSERVICER ADVANCES THIS MONTH 29,685.57
MASTER SERVICER ADVANCES THIS MONTH 0.00
NUMBER OF PRINCIPAL
DELINQUENCIES: LOANS BALANCE
(A) ONE MONTHLY PAYMENT: 14 2,305,890.93
(B) TWO MONTHLY PAYMENTS: 3 1,168,713.89
(C) THREE OR MORE MONTHLY PAYMENTS: 1 118,614.31
FORECLOSURES
NUMBER OF LOANS 4
AGGREGATE PRINCIPAL BALANCE 564,014.74
SCHEDULED PRINCIPAL BALANCE OF MORTGAGE LOANS AFTER
DISTRIBUTION 112,737,718.20
AGGREGATE NUMBER OF LOANS IN THE POOL AS OF THE
DETERMINATION DATE 1,101
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 3,213,311.69
TOTAL REPURCHASES INCLUDED IN THIS DISTRIBUTION 0.00
DISTRIBUTION PERCENTAGES:
SENIOR SUBORDINATE
PERCENTAGE FOR CURRENT DISTRIBUTION 97.91782850 % 2.08217160 %
CURRENT PREPAYMENT PERCENTAGE 100.00000000 % 0.00000000 %
PERCENTAGE FOR NEXT DISTRIBUTION 97.70362240 % 2.29637760 %
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 8.12879256
ENDING WEIGHTED AVERAGE MATURITY, IN MONTHS 291.68
POOL TRADING FACTOR: 81.03688753
................................................................................
Run: 06/30/97 14:51:26 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 17,818,504.65 9.500000 % 315,582.03
A-I- 76110FCV3 25,000,000.00 21,408,628.88 7.600000 % 187,971.32
A-I- 76110FCW1 12,373,000.00 6,737,485.13 6.650000 % 294,961.21
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 10,234,646.98 8.000000 % 552,889.16
A-II 76110FDF7 4,525,000.00 4,525,000.00 8.000000 % 0.00
A-P 76110FDG5 1,105,878.69 1,077,329.12 0.000000 % 1,308.05
A-V 76110FGP2 0.00 0.00 0.882127 % 0.00
R 76110FDH3 100.00 0.00 8.000000 % 0.00
M-1 76110FDJ9 7,918,500.00 7,868,194.08 8.000000 % 6,650.49
M-2 76110FDK6 3,958,800.00 3,933,649.91 8.000000 % 3,324.86
M-3 76110FDL4 2,815,100.00 2,797,215.79 8.000000 % 2,364.31
B-1 76110FDM2 1,407,600.00 1,398,657.58 8.000000 % 1,182.20
B-2 76110FDN0 439,800.00 437,005.97 8.000000 % 369.37
B-3 76110FDP5 1,055,748.52 1,049,041.35 8.000000 % 886.69
- -------------------------------------------------------------------------------
175,944,527.21 159,620,359.44 1,367,489.69
===============================================================================
_______________________________________________________________________________
REMAINING
INTEREST TOTAL DEFERRED REALIZED PRINCIPAL
DISTRIBUTION DISTRIBUTION INTEREST LOSSES BALANCE
_______________________________________________________________________________
A-I-1 141,028.76 456,610.79 0.00 0.00 17,502,922.62
A-I-2 135,554.92 323,526.24 0.00 0.00 21,220,657.56
A-I-3 37,327.80 332,289.01 0.00 0.00 6,442,523.92
A-I-4 44,068.42 44,068.42 0.00 0.00 7,100,000.00
A-I-5 64,185.34 64,185.34 0.00 0.00 10,137,000.00
A-I-6 36,118.19 36,118.19 0.00 0.00 5,558,000.00
A-I-7 112,812.48 112,812.48 0.00 0.00 16,926,000.00
A-I-8 45,882.14 45,882.14 0.00 0.00 6,884,000.00
A-I-9 74,841.74 74,841.74 0.00 0.00 11,229,000.00
A-I-10 149,970.09 149,970.09 0.00 0.00 22,501,000.00
A-II-1 68,214.34 621,103.50 0.00 0.00 9,681,757.82
A-II-2 30,159.31 30,159.31 0.00 0.00 4,525,000.00
A-P 0.00 1,308.05 0.00 0.00 1,076,021.07
A-V 117,309.29 117,309.29 0.00 0.00 0.00
R 0.00 0.00 0.00 0.00 0.00
M-1 52,441.84 59,092.33 0.00 0.00 7,861,543.59
M-2 26,217.93 29,542.79 0.00 0.00 3,930,325.05
M-3 18,643.56 21,007.87 0.00 0.00 2,794,851.48
B-1 9,322.11 10,504.31 0.00 0.00 1,397,475.38
B-2 2,912.66 3,282.03 0.00 0.00 436,636.60
B-3 6,991.90 7,878.59 0.00 0.00 1,048,154.66
- -------------------------------------------------------------------------------
1,174,002.82 2,541,492.51 0.00 0.00 158,252,869.75
===============================================================================
Run: 06/30/97 14:51:26
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- 747.169769 13.233061 5.913651 19.146712 0.000000 733.936708
A-I- 856.345155 7.518853 5.422197 12.941050 0.000000 848.826302
A-I- 544.531248 23.839102 3.016875 26.855977 0.000000 520.692146
A-I- 1000.000000 0.000000 6.206820 6.206820 0.000000 1000.000000
A-I- 1000.000000 0.000000 6.331788 6.331788 0.000000 1000.000000
A-I- 1000.000000 0.000000 6.498415 6.498415 0.000000 1000.000000
A-I- 1000.000000 0.000000 6.665041 6.665041 0.000000 1000.000000
A-I- 1000.000000 0.000000 6.665041 6.665041 0.000000 1000.000000
A-I- 1000.000000 0.000000 6.665041 6.665041 0.000000 1000.000000
A-I- 1000.000000 0.000000 6.665041 6.665041 0.000000 1000.000000
A-II 916.918740 49.533163 6.111301 55.644464 0.000000 867.385578
A-II 1000.000000 0.000000 6.665041 6.665041 0.000000 1000.000000
A-P 974.183814 1.182817 0.000000 1.182817 0.000000 973.000997
R 0.000000 0.000000 0.000000 0.000000 0.000000 0.000000
M-1 993.647039 0.839867 6.622699 7.462566 0.000000 992.807172
M-2 993.647042 0.839866 6.622696 7.462562 0.000000 992.807176
M-3 993.647043 0.839867 6.622699 7.462566 0.000000 992.807176
B-1 993.647045 0.839869 6.622698 7.462567 0.000000 992.807175
B-2 993.647044 0.839859 6.622692 7.462551 0.000000 992.807185
B-3 993.647000 0.839869 6.622695 7.462564 0.000000 992.807134
_______________________________________________________________________________
DETERMINATION DATE 20-June-97
DISTRIBUTION DATE 25-June-97
Run: 06/30/97 14:51:27 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 33,155.24
SERVICING COMPENSATION RECEIVED BY MASTER SERVICER 7,376.01
SUBSERVICER ADVANCES THIS MONTH 40,529.39
MASTER SERVICER ADVANCES THIS MONTH 336.65
NUMBER OF PRINCIPAL
DELINQUENCIES: LOANS BALANCE
(A) ONE MONTHLY PAYMENT: 32 3,892,736.01
(B) TWO MONTHLY PAYMENTS: 9 901,107.25
(C) THREE OR MORE MONTHLY PAYMENTS: 1 57,580.10
FORECLOSURES
NUMBER OF LOANS 1
AGGREGATE PRINCIPAL BALANCE 44,769.27
SCHEDULED PRINCIPAL BALANCE OF MORTGAGE LOANS AFTER
DISTRIBUTION 158,252,869.75
AGGREGATE NUMBER OF LOANS IN THE POOL AS OF THE
DETERMINATION DATE 1,522
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 39,529.04
REMAINING SUBCLASS INTEREST SHORTFALL 0.00
CLASS A SHORTFALL (PRINCIPAL) 0.00
CLASS A SHORTFALL (INTEREST) 0.00
TOTAL PREPAYMENTS INCLUDED IN THIS DISTRIBUTION 1,230,082.19
TOTAL REPURCHASES INCLUDED IN THIS DISTRIBUTION 0.00
DISTRIBUTION PERCENTAGES:
SENIOR CLASS M CLASS B
CURRENT DISTRIBUTION 88.37172540 % 9.14611400 % 1.80722870 %
PREPAYMENT PERCENT 100.00000000 % 0.00000000 % 0.00000000 %
NEXT DISTRIBUTION 88.88577620 % 9.21734951 % 1.83377300 %
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 9.15726300
ENDING WEIGHTED AVERAGE MATURITY, IN MONTHS 0.00
POOL TRADING FACTOR: 89.94475262
................................................................................
Run: 06/30/97 14:51:27 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 12,989,133.42 7.050000 % 1,642,878.84
A-I- 76110FDR1 43,322,483.00 36,561,313.55 6.087500 % 1,560,734.87
A-I- 76110FDS9 0.00 0.00 2.912500 % 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 19,247,717.22 8.000000 % 345,020.97
A-P 76110FED1 601,147.92 581,743.30 0.000000 % 51,995.07
A-V 76110FGQ0 0.00 0.00 0.818820 % 0.00
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 9,070,811.06 8.000000 % 7,661.94
M-2 76110FEH2 5,126,400.00 5,101,771.43 8.000000 % 4,309.37
M-3 76110FEJ8 3,645,500.00 3,627,986.04 8.000000 % 3,064.49
B-1 1,822,700.00 1,813,943.26 8.000000 % 1,532.20
B-2 569,600.00 566,863.50 8.000000 % 478.82
B-3 1,366,716.75 1,360,150.68 8.000000 % 1,148.89
- -------------------------------------------------------------------------------
227,839,864.67 212,981,796.46 3,618,825.46
===============================================================================
_______________________________________________________________________________
REMAINING
INTEREST TOTAL DEFERRED REALIZED PRINCIPAL
DISTRIBUTION DISTRIBUTION INTEREST LOSSES BALANCE
_______________________________________________________________________________
A-I-1 76,175.66 1,719,054.50 0.00 0.00 11,346,254.58
A-I-2 185,143.16 1,745,878.03 0.00 0.00 35,000,578.68
A-I-3 88,579.78 88,579.78 0.00 0.00 0.00
A-I-4 79,011.95 79,011.95 0.00 0.00 13,330,948.00
A-I-5 157,886.02 157,886.02 0.00 0.00 24,973,716.00
A-I-6 494.40 494.40 0.00 0.00 0.00
A-I-7 6,405.28 6,405.28 0.00 0.00 1,000,000.00
A-I-8 61,104.38 61,104.38 0.00 0.00 9,539,699.00
A-I-9 149,906.67 149,906.67 0.00 0.00 22,526,000.00
A-I-10 77,528.76 77,528.76 0.00 0.00 11,650,000.00
A-I-11 202,446.55 202,446.55 0.00 0.00 30,421,000.00
A-I-12 57,357.97 57,357.97 0.00 0.00 8,619,000.00
A-II 128,090.26 473,111.23 0.00 0.00 18,902,696.25
A-P 0.00 51,995.07 0.00 0.00 529,748.23
A-V 145,070.06 145,070.06 0.00 0.00 0.00
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 60,364.69 68,026.63 0.00 0.00 9,063,149.12
M-2 33,951.42 38,260.79 0.00 0.00 5,097,462.06
M-3 24,143.62 27,208.11 0.00 0.00 3,624,921.55
B-1 12,071.49 13,603.69 0.00 0.00 1,812,411.06
B-2 3,772.38 4,251.20 0.00 0.00 566,384.68
B-3 9,051.57 10,200.46 0.00 0.00 1,359,001.79
- -------------------------------------------------------------------------------
1,558,556.07 5,177,381.53 0.00 0.00 209,362,971.00
===============================================================================
Run: 06/30/97 14:51:27
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- 646.027750 81.710249 3.788674 85.498923 0.000000 564.317501
A-I- 843.933935 36.025979 4.273605 40.299584 0.000000 807.907956
A-I- 1000.000000 0.000000 5.926957 5.926957 0.000000 1000.000000
A-I- 1000.000000 0.000000 6.322088 6.322088 0.000000 1000.000000
A-I- 1000.000000 0.000000 6.405280 6.405280 0.000000 1000.000000
A-I- 1000.000000 0.000000 6.405273 6.405273 0.000000 1000.000000
A-I- 1000.000000 0.000000 6.654829 6.654829 0.000000 1000.000000
A-I- 1000.000000 0.000000 6.654829 6.654829 0.000000 1000.000000
A-I- 1000.000000 0.000000 6.654829 6.654829 0.000000 1000.000000
A-I- 1000.000000 0.000000 6.654829 6.654829 0.000000 1000.000000
A-II 957.407343 17.161807 6.371382 23.533189 0.000000 940.245536
A-P 967.720723 86.492972 0.000000 86.492972 0.000000 881.227752
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-1 995.195737 0.840623 6.622857 7.463480 0.000000 994.355114
M-2 995.195738 0.840623 6.622858 7.463481 0.000000 994.355115
M-3 995.195732 0.840623 6.622856 7.463479 0.000000 994.355109
B-1 995.195732 0.840621 6.622862 7.463483 0.000000 994.355111
B-2 995.195751 0.840625 6.622858 7.463483 0.000000 994.355126
B-3 995.195735 0.840620 6.622857 7.463477 0.000000 994.355114
_______________________________________________________________________________
DETERMINATION DATE 20-June-97
DISTRIBUTION DATE 25-June-97
Run: 06/30/97 14:51:28 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 44,059.29
SERVICING COMPENSATION RECEIVED BY MASTER SERVICER 5,521.27
SUBSERVICER ADVANCES THIS MONTH 37,592.02
MASTER SERVICER ADVANCES THIS MONTH 0.00
NUMBER OF PRINCIPAL
DELINQUENCIES: LOANS BALANCE
(A) ONE MONTHLY PAYMENT: 31 4,138,544.63
(B) TWO MONTHLY PAYMENTS: 4 269,966.94
(C) THREE OR MORE MONTHLY PAYMENTS: 0 0.00
FORECLOSURES
NUMBER OF LOANS 1
AGGREGATE PRINCIPAL BALANCE 261,168.08
SCHEDULED PRINCIPAL BALANCE OF MORTGAGE LOANS AFTER
DISTRIBUTION 209,362,971.00
AGGREGATE NUMBER OF LOANS IN THE POOL AS OF THE
DETERMINATION DATE 1,996
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 3,436,290.05
TOTAL REPURCHASES INCLUDED IN THIS DISTRIBUTION 0.00
DISTRIBUTION PERCENTAGES:
SENIOR CLASS M CLASS B
CURRENT DISTRIBUTION 89.61260090 % 8.35778900 % 1.75646820 %
PREPAYMENT PERCENT 100.00000000 % 0.00000000 % 0.00000000 %
NEXT DISTRIBUTION 89.69353150 % 8.49507085 % 1.78984810 %
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 9.12845600
ENDING WEIGHTED AVERAGE MATURITY, IN MONTHS 0.00
POOL TRADING FACTOR: 91.89040351
................................................................................
Run: 06/30/97 14:50:46 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 3,736,604.04 7.400000 % 40,536.21
A-2 76110FEL3 4,074,824.00 3,444,231.77 7.300000 % 97,047.13
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 29,744,939.74 6.187500 % 282,345.57
A-8 76110FES8 0.00 0.00 2.812500 % 0.00
A-9 76110FET6 32,965,000.00 28,415,405.96 0.000000 % 700,175.21
A-10 76110FEU3 20,953,719.00 20,865,332.30 7.400000 % 13,602.57
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 115,824.70 114,862.06 0.000000 % 188.28
A-15 76110FGR8 0.00 0.00 0.904767 % 0.00
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 6,636,466.64 7.750000 % 4,023.49
M-2 76110FFC2 4,440,700.00 4,424,344.29 7.750000 % 2,682.34
M-3 76110FFD0 3,108,500.00 3,097,050.97 7.750000 % 1,877.65
B-1 1,509,500.00 1,503,940.31 7.750000 % 911.79
B-2 444,000.00 442,364.70 7.750000 % 268.19
B-3 1,154,562.90 1,150,310.37 7.750000 % 697.41
- -------------------------------------------------------------------------------
177,623,205.60 170,191,665.15 1,144,355.84
===============================================================================
_______________________________________________________________________________
REMAINING
INTEREST TOTAL DEFERRED REALIZED PRINCIPAL
DISTRIBUTION DISTRIBUTION INTEREST LOSSES BALANCE
_______________________________________________________________________________
A-1 23,029.77 63,565.98 0.00 0.00 3,696,067.83
A-2 20,940.93 117,988.06 0.00 0.00 3,347,184.64
A-3 77,085.97 77,085.97 0.00 0.00 13,128,206.00
A-4 22,892.11 22,892.11 0.00 0.00 3,765,148.00
A-5 64,714.54 64,714.54 0.00 0.00 10,500,000.00
A-6 16,027.64 16,027.64 0.00 0.00 2,600,500.00
A-7 153,288.35 435,633.92 0.00 0.00 29,462,594.17
A-8 69,676.52 69,676.52 0.00 0.00 0.00
A-9 173,794.79 873,970.00 0.00 0.00 27,715,230.75
A-10 128,599.08 142,201.65 0.00 0.00 20,851,729.73
A-11 90,205.78 90,205.78 0.00 0.00 13,975,000.00
A-12 12,909.60 12,909.60 0.00 0.00 2,000,000.00
A-13 133,271.91 133,271.91 0.00 0.00 20,646,958.00
A-14 0.00 188.28 0.00 0.00 114,673.78
A-15 128,249.48 128,249.48 0.00 0.00 0.00
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 42,837.04 46,860.53 0.00 0.00 6,632,443.15
M-2 28,558.24 31,240.58 0.00 0.00 4,421,661.95
M-3 19,990.84 21,868.49 0.00 0.00 3,095,173.32
B-1 9,707.63 10,619.42 0.00 0.00 1,503,028.52
B-2 2,855.38 3,123.57 0.00 0.00 442,096.51
B-3 7,425.02 8,122.43 0.00 0.00 1,149,612.96
- -------------------------------------------------------------------------------
1,226,060.62 2,370,416.46 0.00 0.00 169,047,309.31
===============================================================================
Run: 06/30/97 14:50:46
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-1 934.151010 10.134054 5.757443 15.891497 0.000000 924.016956
A-2 845.246757 23.816275 5.139100 28.955375 0.000000 821.430481
A-3 1000.000000 0.000000 5.871782 5.871782 0.000000 1000.000000
A-4 1000.000000 0.000000 6.080003 6.080003 0.000000 1000.000000
A-5 1000.000000 0.000000 6.163290 6.163290 0.000000 1000.000000
A-6 1000.000000 0.000000 6.163292 6.163292 0.000000 1000.000000
A-7 941.904729 8.940769 4.854036 13.794805 0.000000 932.963961
A-9 861.987137 21.239958 5.272100 26.512058 0.000000 840.747179
A-10 995.781813 0.649172 6.137291 6.786463 0.000000 995.132641
A-11 1000.000000 0.000000 6.454796 6.454796 0.000000 1000.000000
A-12 1000.000000 0.000000 6.454800 6.454800 0.000000 1000.000000
A-13 1000.000000 0.000000 6.454796 6.454796 0.000000 1000.000000
A-14 991.688819 1.625560 0.000000 1.625560 0.000000 990.063259
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-1 996.316865 0.604037 6.431022 7.035059 0.000000 995.712828
M-2 996.316862 0.604035 6.431022 7.035057 0.000000 995.712827
M-3 996.316863 0.604037 6.431025 7.035062 0.000000 995.712826
B-1 996.316867 0.604034 6.431024 7.035058 0.000000 995.712832
B-2 996.316892 0.604032 6.431036 7.035068 0.000000 995.712860
B-3 996.316762 0.604021 6.431023 7.035044 0.000000 995.712713
_______________________________________________________________________________
DETERMINATION DATE 20-June-97
DISTRIBUTION DATE 25-June-97
Run: 06/30/97 14:50:47 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 35,431.05
SERVICING COMPENSATION RECEIVED BY MASTER SERVICER 9,302.69
SUBSERVICER ADVANCES THIS MONTH 34,402.03
MASTER SERVICER ADVANCES THIS MONTH 0.00
NUMBER OF PRINCIPAL
DELINQUENCIES: LOANS BALANCE
(A) ONE MONTHLY PAYMENT: 21 3,206,545.65
(B) TWO MONTHLY PAYMENTS: 3 379,313.33
(C) THREE OR MORE MONTHLY PAYMENTS: 0 0.00
FORECLOSURES
NUMBER OF LOANS 4
AGGREGATE PRINCIPAL BALANCE 866,588.10
SCHEDULED PRINCIPAL BALANCE OF MORTGAGE LOANS AFTER
DISTRIBUTION 169,047,309.31
AGGREGATE NUMBER OF LOANS IN THE POOL AS OF THE
DETERMINATION DATE 1,575
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 1,041,114.68
TOTAL REPURCHASES INCLUDED IN THIS DISTRIBUTION 0.00
DISTRIBUTION PERCENTAGES:
SENIOR CLASS M CLASS B
CURRENT DISTRIBUTION 89.85489090 % 8.32439300 % 1.82071590 %
PREPAYMENT PERCENT 100.00000000 % 0.00000000 % 0.00000000 %
NEXT DISTRIBUTION 89.79237120 % 8.37001102 % 1.83193610 %
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 8.97964170
ENDING WEIGHTED AVERAGE MATURITY, IN MONTHS 347.14
POOL TRADING FACTOR: 95.17186042
................................................................................
Run: 06/30/97 14:50:56 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 28,661,466.50 6.750000 % 2,308,908.75
A-2 76110FFF5 10,146,000.00 9,064,462.68 6.750000 % 543,272.66
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 30,294,916.58 11.000000 % 611,181.71
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 212,947.62 212,212.55 0.000000 % 236.05
A-13 76110FFS7 0.00 0.00 0.973856 % 0.00
R 76110FFT5 100.00 0.00 7.500000 % 0.00
M-1 76110FFV0 9,377,000.00 9,360,326.05 7.500000 % 5,660.17
M-2 76110FFW8 6,251,000.00 6,239,884.63 7.500000 % 3,773.25
M-3 76110FFW8 4,375,700.00 4,367,919.24 7.500000 % 2,641.27
B-1 1,624,900.00 1,622,010.65 7.500000 % 980.83
B-2 624,800.00 623,688.99 7.500000 % 377.14
B-3 1,500,282.64 1,497,614.87 7.500000 % 905.61
- -------------------------------------------------------------------------------
250,038,730.26 243,100,856.74 3,477,937.44
===============================================================================
_______________________________________________________________________________
REMAINING
INTEREST TOTAL DEFERRED REALIZED PRINCIPAL
DISTRIBUTION DISTRIBUTION INTEREST LOSSES BALANCE
_______________________________________________________________________________
A-1 161,178.12 2,470,086.87 0.00 0.00 26,352,557.75
A-2 50,974.12 594,246.78 0.00 0.00 8,521,190.02
A-3 139,553.09 139,553.09 0.00 0.00 24,816,000.00
A-4 89,627.54 89,627.54 0.00 0.00 15,938,000.00
A-5 57,657.88 57,657.88 0.00 0.00 10,253,000.00
A-6 277,629.96 888,811.67 0.00 0.00 29,683,734.87
A-7 99,266.24 99,266.24 0.00 0.00 17,652,000.00
A-8 31,804.28 31,804.28 0.00 0.00 5,655,589.00
A-9 107,229.14 107,229.14 0.00 0.00 19,068,000.00
A-10 57,740.91 57,740.91 0.00 0.00 10,267,765.00
A-11 296,833.98 296,833.98 0.00 0.00 47,506,000.00
A-12 0.00 236.05 0.00 0.00 211,976.50
A-13 197,235.58 197,235.58 0.00 0.00 0.00
R 0.00 0.00 0.00 0.00 0.00
M-1 58,486.57 64,146.74 0.00 0.00 9,354,665.88
M-2 38,988.97 42,762.22 0.00 0.00 6,236,111.38
M-3 27,292.28 29,933.55 0.00 0.00 4,365,277.97
B-1 10,134.89 11,115.72 0.00 0.00 1,621,029.82
B-2 3,897.03 4,274.17 0.00 0.00 623,311.85
B-3 9,357.61 10,263.22 0.00 0.00 1,496,709.26
- -------------------------------------------------------------------------------
1,714,888.19 5,192,825.63 0.00 0.00 239,622,919.30
===============================================================================
Run: 06/30/97 14:50:56
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-1 861.791644 69.424161 4.846296 74.270457 0.000000 792.367483
A-2 893.402590 53.545502 5.024061 58.569563 0.000000 839.857089
A-3 1000.000000 0.000000 5.623513 5.623513 0.000000 1000.000000
A-4 1000.000000 0.000000 5.623512 5.623512 0.000000 1000.000000
A-5 1000.000000 0.000000 5.623513 5.623513 0.000000 1000.000000
A-6 961.387945 19.395423 8.810392 28.205815 0.000000 941.992521
A-7 1000.000000 0.000000 5.623512 5.623512 0.000000 1000.000000
A-8 1000.000000 0.000000 5.623513 5.623513 0.000000 1000.000000
A-9 1000.000000 0.000000 5.623513 5.623513 0.000000 1000.000000
A-10 1000.000000 0.000000 5.623513 5.623513 0.000000 1000.000000
A-11 1000.000000 0.000000 6.248347 6.248347 0.000000 1000.000000
A-12 996.548118 1.108489 0.000000 1.108489 0.000000 995.439630
R 0.000000 0.000000 0.000000 0.000000 0.000000 0.000000
M-1 998.221825 0.603623 6.237237 6.840860 0.000000 997.618202
M-2 998.221825 0.603623 6.237237 6.840860 0.000000 997.618202
M-3 998.221825 0.603622 6.237237 6.840859 0.000000 997.618203
B-1 998.221829 0.603625 6.237239 6.840864 0.000000 997.618204
B-2 998.221815 0.603617 6.237244 6.840861 0.000000 997.618198
B-3 998.221822 0.603600 6.237231 6.840831 0.000000 997.618195
_______________________________________________________________________________
DETERMINATION DATE 20-June-97
DISTRIBUTION DATE 25-June-97
Run: 06/30/97 14:50:57 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 50,704.89
SERVICING COMPENSATION RECEIVED BY MASTER SERVICER 4,165.30
SUBSERVICER ADVANCES THIS MONTH 28,784.31
MASTER SERVICER ADVANCES THIS MONTH 0.00
NUMBER OF PRINCIPAL
DELINQUENCIES: LOANS BALANCE
(A) ONE MONTHLY PAYMENT: 27 2,739,995.64
(B) TWO MONTHLY PAYMENTS: 8 811,264.72
(C) THREE OR MORE MONTHLY PAYMENTS: 0 0.00
FORECLOSURES
NUMBER OF LOANS 1
AGGREGATE PRINCIPAL BALANCE 127,230.46
SCHEDULED PRINCIPAL BALANCE OF MORTGAGE LOANS AFTER
DISTRIBUTION 239,622,919.30
AGGREGATE NUMBER OF LOANS IN THE POOL AS OF THE
DETERMINATION DATE 2,203
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 3,330,856.91
TOTAL REPURCHASES INCLUDED IN THIS DISTRIBUTION 0.00
DISTRIBUTION PERCENTAGES:
SENIOR CLASS M CLASS B
CURRENT DISTRIBUTION 90.23773030 % 8.22110500 % 1.54116490 %
PREPAYMENT PERCENT 100.00000000 % 0.00000000 % 0.00000000 %
NEXT DISTRIBUTION 90.10191180 % 8.32810788 % 1.56260650 %
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 8.79662876
ENDING WEIGHTED AVERAGE MATURITY, IN MONTHS 351.76
POOL TRADING FACTOR: 95.83432097
................................................................................
Run: 06/30/97 14:51:01 REPT1B.FRG
Page: 1 of 3
RESIDENTIAL FUNDING CORPORATION (MASTER SERVICER)
RESIDENTIAL ACCREDIT LOANS, INC. (COMPANY)
MORTGAGE ASSET-BACKED PASS-THROUGH CERTIFICATES SERIES 1997-QS2 (POOL # 4240)
STATEMENT TO CERTIFICATEHOLDERS
DISTRIBUTION SUMMARY FOR POOL# 4240
_______________________________________________________________________________
PRINCIPAL CURRENT
ORIGINAL BALANCE BEFORE PASS-THROUGH PRINCIPAL
CLASS CUSIP FACE VALUE DISTRIBUTION RATE DISTRIBUTION
_______________________________________________________________________________
A-1 76110FFY4 31,108,570.00 30,353,854.45 9.000000 % 800,505.61
A-2 37,000,000.00 35,372,661.73 7.250000 % 1,726,072.05
A-3 76110FGA5 5,200,000.00 5,200,000.00 7.250000 % 0.00
A-4 76110FGB3 18,200,000.00 18,200,000.00 7.250000 % 0.00
A-5 76110FGC1 10,000,000.00 9,740,549.28 7.250000 % 275,192.10
A-6 76110FGD9 7,371,430.00 7,371,430.00 7.250000 % 0.00
A-7 76110FGE7 10,400,783.00 10,400,783.00 7.750000 % 0.00
A-8 76110FGF4 31,000,000.00 31,000,000.00 7.750000 % 0.00
A-9 76110FGG2 130,561.76 130,261.43 0.000000 % 888.99
A-10 76110FGH0 0.00 0.00 0.744856 % 0.00
R 76100FGJ6 100.00 0.00 7.750000 % 0.00
M-1 76110FGK3 4,931,600.00 4,926,090.72 7.750000 % 2,891.16
M-2 76110FGL1 4,109,600.00 4,105,009.00 7.750000 % 2,409.26
M-3 76110FGM9 2,630,200.00 2,627,261.70 7.750000 % 1,541.96
B-1 1,068,500.00 1,067,306.34 7.750000 % 626.41
B-2 410,900.00 410,440.97 7.750000 % 240.89
B-3 821,738.81 820,820.81 7.750000 % 481.75
- -------------------------------------------------------------------------------
164,383,983.57 161,726,469.43 2,810,850.18
===============================================================================
_______________________________________________________________________________
REMAINING
INTEREST TOTAL DEFERRED REALIZED PRINCIPAL
DISTRIBUTION DISTRIBUTION INTEREST LOSSES BALANCE
_______________________________________________________________________________
A-1 227,585.43 1,028,091.04 0.00 0.00 29,553,348.84
A-2 213,645.54 1,939,717.59 0.00 0.00 33,646,589.68
A-3 31,407.22 31,407.22 0.00 0.00 5,200,000.00
A-4 109,925.25 109,925.25 0.00 0.00 18,200,000.00
A-5 58,831.45 334,023.55 0.00 0.00 9,465,357.18
A-6 44,522.32 44,522.32 0.00 0.00 7,371,430.00
A-7 67,151.51 67,151.51 0.00 0.00 10,400,783.00
A-8 200,148.11 200,148.11 0.00 0.00 31,000,000.00
A-9 0.00 888.99 0.00 0.00 129,372.44
A-10 100,355.59 100,355.59 0.00 0.00 0.00
R 0.00 0.00 0.00 0.00 0.00
M-1 31,804.77 34,695.93 0.00 0.00 4,923,199.56
M-2 26,503.55 28,912.81 0.00 0.00 4,102,599.74
M-3 16,962.63 18,504.59 0.00 0.00 2,625,719.74
B-1 6,890.95 7,517.36 0.00 0.00 1,066,679.93
B-2 2,649.96 2,890.85 0.00 0.00 410,200.08
B-3 5,299.54 5,781.29 0.00 0.00 820,339.06
- -------------------------------------------------------------------------------
1,143,683.82 3,954,534.00 0.00 0.00 158,915,619.25
===============================================================================
Run: 06/30/97 14:51:01
Page: 2 of 3
RESIDENTIAL FUNDING CORPORATION (MASTER SERVICER)
RESIDENTIAL ACCREDIT LOANS, INC. (COMPANY)
MORTGAGE ASSET-BACKED PASS-THROUGH CERTIFICATES SERIES 1997-QS2 (POOL # 4240)
STATEMENT TO CERTIFICATEHOLDERS
DISTRIBUTION SUMMARY FOR POOL# 4240
_______________________________________________________________________________
AMOUNTS PER $1,000 UNIT
_______________________________________________________________________________
BEGINNING ENDING
BALANCE PRINCIPAL INTEREST TOTAL DEFERRED BALANCE
CLASS FACTOR FACTOR FACTOR DISTRIBUTION INTEREST FACTOR
_______________________________________________________________________________
A-1 975.739304 25.732639 7.315844 33.048483 0.000000 950.006665
A-2 956.017885 46.650596 5.774204 52.424800 0.000000 909.367289
A-3 1000.000000 0.000000 6.039850 6.039850 0.000000 1000.000000
A-4 1000.000000 0.000000 6.039849 6.039849 0.000000 1000.000000
A-5 974.054928 27.519210 5.883145 33.402355 0.000000 946.535718
A-6 1000.000000 0.000000 6.039848 6.039848 0.000000 1000.000000
A-7 1000.000000 0.000000 6.456390 6.456390 0.000000 1000.000000
A-8 1000.000000 0.000000 6.456391 6.456391 0.000000 1000.000000
A-9 997.699709 6.808962 0.000000 6.808962 0.000000 990.890748
R 0.000000 0.000000 0.000000 0.000000 0.000000 0.000000
M-1 998.882862 0.586252 6.449179 7.035431 0.000000 998.296610
M-2 998.882860 0.586252 6.449180 7.035432 0.000000 998.296608
M-3 998.882861 0.586252 6.449179 7.035431 0.000000 998.296609
B-1 998.882864 0.586252 6.449181 7.035433 0.000000 998.296612
B-2 998.882867 0.586250 6.449160 7.035410 0.000000 998.296617
B-3 998.882857 0.586257 6.449178 7.035435 0.000000 998.296600
_______________________________________________________________________________
DETERMINATION DATE 20-June-97
DISTRIBUTION DATE 25-June-97
Run: 06/30/97 14:51:02 rept2.frg
Page: 3 of 3
RESIDENTIAL FUNDING CORPORATION (MASTER SERVICER)
RESIDENTIAL ACCREDIT LOANS, INC. (COMPANY)
MORTGAGE ASSET-BACKED PASS-THROUGH CERTIFICATES 1997-QS2 (POOL # 4240)
STATEMENT TO CERTIFICATEHOLDERS
ADDITIONAL RELATED INFORMATION FOR POOL 4240
_______________________________________________________________________________
SERVICING COMPENSATION RECEIVED BY SUB-SERVICER 33,433.69
SERVICING COMPENSATION RECEIVED BY MASTER SERVICER 0.00
SUBSERVICER ADVANCES THIS MONTH 34,562.66
MASTER SERVICER ADVANCES THIS MONTH 0.00
NUMBER OF PRINCIPAL
DELINQUENCIES: LOANS BALANCE
(A) ONE MONTHLY PAYMENT: 43 4,323,380.26
(B) TWO MONTHLY PAYMENTS: 1 35,185.46
(C) THREE OR MORE MONTHLY PAYMENTS: 0 0.00
FORECLOSURES
NUMBER OF LOANS 1
AGGREGATE PRINCIPAL BALANCE 202,383.49
SCHEDULED PRINCIPAL BALANCE OF MORTGAGE LOANS AFTER
DISTRIBUTION 158,915,619.25
AGGREGATE NUMBER OF LOANS IN THE POOL AS OF THE
DETERMINATION DATE 1,481
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 2,715,915.28
TOTAL REPURCHASES INCLUDED IN THIS DISTRIBUTION 0.00
DISTRIBUTION PERCENTAGES:
SENIOR CLASS M CLASS B
CURRENT DISTRIBUTION 91.36308350 % 7.21450200 % 1.42241460 %
PREPAYMENT PERCENT 100.00000000 % 0.00000000 % 0.00000000 %
NEXT DISTRIBUTION 91.21539910 % 7.33189041 % 1.44673680 %
BANKRUPTCY AMOUNT AVAILABLE 100,000.00
FRAUD AMOUNT AVAILABLE 4,931,520.00
SPECIAL HAZARD AMOUNT AVAILABLE 1,900,600.00
ENDING GROSS WEIGHTED AVERAGE INTEREST RATE 8.81728206
ENDING WEIGHTED AVERAGE MATURITY, IN MONTHS 353.90
POOL TRADING FACTOR: 96.67342024
................................................................................
Run: 06/30/97 14:51:04 REPT1B.FRG
Page: 1 of 3
RESIDENTIAL FUNDING CORPORATION (MASTER SERVICER)
RESIDENTIAL ACCREDIT LOANS, INC. (COMPANY)
MORTGAGE ASSET-BACKED PASS-THROUGH CERTIFICATES SERIES 1997-QS3 (POOL # 4244)
STATEMENT TO CERTIFICATEHOLDERS
DISTRIBUTION SUMMARY FOR POOL# 4244
_______________________________________________________________________________
PRINCIPAL CURRENT
ORIGINAL BALANCE BEFORE PASS-THROUGH PRINCIPAL
CLASS CUSIP FACE VALUE DISTRIBUTION RATE DISTRIBUTION
_______________________________________________________________________________
A-1 76110FGS6 32,109,000.00 31,611,410.27 7.250000 % 1,830,063.57
A-2 76110FGT4 26,579,000.00 26,579,000.00 7.500000 % 0.00
A-3 76110FGU1 16,821,000.00 16,821,000.00 7.500000 % 0.00
A-4 76110FGV9 23,490,000.00 23,490,000.00 7.750000 % 0.00
A-5 76110FGW7 7,138,000.00 7,138,000.00 7.750000 % 0.00
A-6 76110FGX5 1,000,000.00 1,000,000.00 7.750000 % 0.00
A-7 76110FGY3 15,374,000.00 15,231,831.51 9.500000 % 522,875.31
A-8 76110FGZ0 27,500,000.00 27,500,000.00 7.750000 % 0.00
A-9 76110FHA4 107,351.50 107,274.09 0.000000 % 132.31
A-10 76110FHB2 0.00 0.00 0.750531 % 0.00
R 76110FHC0 100.00 0.00 7.750000 % 0.00
M-1 76110FHD8 5,346,700.00 5,343,630.02 7.750000 % 3,094.04
M-2 76110FHE6 4,112,900.00 4,110,538.44 7.750000 % 2,380.06
M-3 76110FHF3 2,632,200.00 2,630,688.64 7.750000 % 1,523.21
B-1 1,069,400.00 1,068,785.97 7.750000 % 618.84
B-2 411,200.00 410,963.90 7.750000 % 237.95
B-3 823,585.68 823,112.77 7.750000 % 476.61
- -------------------------------------------------------------------------------
164,514,437.18 163,866,235.61 2,361,401.90
===============================================================================
_______________________________________________________________________________
REMAINING
INTEREST TOTAL DEFERRED REALIZED PRINCIPAL
DISTRIBUTION DISTRIBUTION INTEREST LOSSES BALANCE
_______________________________________________________________________________
A-1 190,833.34 2,020,896.91 0.00 0.00 29,781,346.70
A-2 165,986.32 165,986.32 0.00 0.00 26,579,000.00
A-3 105,047.44 105,047.44 0.00 0.00 16,821,000.00
A-4 151,585.31 151,585.31 0.00 0.00 23,490,000.00
A-5 46,062.83 46,062.83 0.00 0.00 7,138,000.00
A-6 6,453.18 6,453.18 0.00 0.00 1,000,000.00
A-7 120,489.20 643,364.51 0.00 0.00 14,708,956.20
A-8 177,462.58 177,462.58 0.00 0.00 27,500,000.00
A-9 0.00 132.31 0.00 0.00 107,141.78
A-10 102,407.26 102,407.26 0.00 0.00 0.00
R 0.00 0.00 0.00 0.00 0.00
M-1 34,483.43 37,577.47 0.00 0.00 5,340,535.98
M-2 26,526.07 28,906.13 0.00 0.00 4,108,158.38
M-3 16,976.32 18,499.53 0.00 0.00 2,629,165.43
B-1 6,897.08 7,515.92 0.00 0.00 1,068,167.13
B-2 2,652.02 2,889.97 0.00 0.00 410,725.95
B-3 5,311.70 5,788.31 0.00 0.00 822,636.16
- -------------------------------------------------------------------------------
1,159,174.08 3,520,575.98 0.00 0.00 161,504,833.71
===============================================================================
Run: 06/30/97 14:51:04
Page: 2 of 3
RESIDENTIAL FUNDING CORPORATION (MASTER SERVICER)
RESIDENTIAL ACCREDIT LOANS, INC. (COMPANY)
MORTGAGE ASSET-BACKED PASS-THROUGH CERTIFICATES SERIES 1997-QS3 (POOL # 4244)
STATEMENT TO CERTIFICATEHOLDERS
DISTRIBUTION SUMMARY FOR POOL# 4244
_______________________________________________________________________________
AMOUNTS PER $1,000 UNIT
_______________________________________________________________________________
BEGINNING ENDING
BALANCE PRINCIPAL INTEREST TOTAL DEFERRED BALANCE
CLASS FACTOR FACTOR FACTOR DISTRIBUTION INTEREST FACTOR
_______________________________________________________________________________
A-1 984.503107 56.995346 5.943298 62.938644 0.000000 927.507761
A-2 1000.000000 0.000000 6.245017 6.245017 0.000000 1000.000000
A-3 1000.000000 0.000000 6.245018 6.245018 0.000000 1000.000000
A-4 1000.000000 0.000000 6.453185 6.453185 0.000000 1000.000000
A-5 1000.000000 0.000000 6.453184 6.453184 0.000000 1000.000000
A-6 1000.000000 0.000000 6.453180 6.453180 0.000000 1000.000000
A-7 990.752667 34.010362 7.837206 41.847568 0.000000 956.742306
A-8 1000.000000 0.000000 6.453185 6.453185 0.000000 1000.000000
A-9 999.278911 1.232493 0.000000 1.232493 0.000000 998.046418
R 0.000000 0.000000 0.000000 0.000000 0.000000 0.000000
M-1 999.425818 0.578682 6.449479 7.028161 0.000000 998.847136
M-2 999.425816 0.578682 6.449481 7.028163 0.000000 998.847135
M-3 999.425819 0.578683 6.449480 7.028163 0.000000 998.847136
B-1 999.425818 0.578680 6.449486 7.028166 0.000000 998.847139
B-2 999.425827 0.578672 6.449465 7.028137 0.000000 998.847155
B-3 999.425791 0.578677 6.449481 7.028158 0.000000 998.847085
_______________________________________________________________________________
DETERMINATION DATE 20-June-97
DISTRIBUTION DATE 25-June-97
Run: 06/30/97 14:51:05 rept2.frg
Page: 3 of 3
RESIDENTIAL FUNDING CORPORATION (MASTER SERVICER)
RESIDENTIAL ACCREDIT LOANS, INC. (COMPANY)
MORTGAGE ASSET-BACKED PASS-THROUGH CERTIFICATES 1997-QS3 (POOL # 4244)
STATEMENT TO CERTIFICATEHOLDERS
ADDITIONAL RELATED INFORMATION FOR POOL 4244
_______________________________________________________________________________
SERVICING COMPENSATION RECEIVED BY SUB-SERVICER 34,015.61
SERVICING COMPENSATION RECEIVED BY MASTER SERVICER 8,299.56
SUBSERVICER ADVANCES THIS MONTH 39,803.91
MASTER SERVICER ADVANCES THIS MONTH 0.00
NUMBER OF PRINCIPAL
DELINQUENCIES: LOANS BALANCE
(A) ONE MONTHLY PAYMENT: 51 5,212,281.12
(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 161,504,833.71
AGGREGATE NUMBER OF LOANS IN THE POOL AS OF THE
DETERMINATION DATE 1,468
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 2,266,507.12
TOTAL REPURCHASES INCLUDED IN THIS DISTRIBUTION 0.00
DISTRIBUTION PERCENTAGES:
SENIOR CLASS M CLASS B
CURRENT DISTRIBUTION 91.21408710 % 7.37966200 % 1.40625140 %
PREPAYMENT PERCENT 100.00000000 % 0.00000000 % 0.00000000 %
NEXT DISTRIBUTION 91.09070960 % 7.47832713 % 1.42599890 %
BANKRUPTCY AMOUNT AVAILABLE 100,000.00
FRAUD AMOUNT AVAILABLE 4,935,433.00
SPECIAL HAZARD AMOUNT AVAILABLE 1,650,000.00
ENDING GROSS WEIGHTED AVERAGE INTEREST RATE 8.82139298
ENDING WEIGHTED AVERAGE MATURITY, IN MONTHS 355.76
POOL TRADING FACTOR: 98.17061437
................................................................................
Run: 06/30/97 14:51:09 REPT1B.FRG
Page: 1 of 3
RESIDENTIAL FUNDING CORPORATION (MASTER SERVICER)
RESIDENTIAL ACCREDIT LOANS, INC. (COMPANY)
MORTGAGE ASSET-BACKED PASS-THROUGH CERTIFICATES SERIES 1997-QS4 (POOL # 4247)
STATEMENT TO CERTIFICATEHOLDERS
DISTRIBUTION SUMMARY FOR POOL# 4247
_______________________________________________________________________________
PRINCIPAL CURRENT
ORIGINAL BALANCE BEFORE PASS-THROUGH PRINCIPAL
CLASS CUSIP FACE VALUE DISTRIBUTION RATE DISTRIBUTION
_______________________________________________________________________________
A-1 76110FHK2 43,231,010.00 43,231,010.00 7.250000 % 714,823.05
A-2 76110FHL0 35,775,000.00 35,775,000.00 7.250000 % 0.00
A-3 76110FHM8 22,398,546.00 22,398,546.00 7.250000 % 0.00
A-4 76110FHN6 24,498,244.00 24,498,244.00 10.000000 % 158,849.55
A-5 76110FHP1 17,675,100.00 17,675,100.00 7.500000 % 0.00
A-6 76110FHQ9 7,150,100.00 7,150,100.00 7.750000 % 0.00
A-7 76110FHR7 52,000,000.00 52,000,000.00 7.750000 % 0.00
A-8 76110FHS5 155,284.33 155,284.33 0.000000 % 127.14
A-9 76110FHT3 0.00 0.00 0.761568 % 0.00
R 76110FHU0 100.00 100.00 7.750000 % 100.00
M-1 76110FHV8 7,186,600.00 7,186,600.00 7.750000 % 4,137.13
M-2 76110FHW6 4,975,300.00 4,975,300.00 7.750000 % 2,864.15
M-3 76110FHX4 3,316,900.00 3,316,900.00 7.750000 % 1,909.45
B-1 1,216,200.00 1,216,200.00 7.750000 % 700.13
B-2 552,900.00 552,900.00 7.750000 % 318.29
B-3 995,114.30 995,114.30 7.750000 % 443.08
- -------------------------------------------------------------------------------
221,126,398.63 221,126,398.63 884,271.97
===============================================================================
_______________________________________________________________________________
REMAINING
INTEREST TOTAL DEFERRED REALIZED PRINCIPAL
DISTRIBUTION DISTRIBUTION INTEREST LOSSES BALANCE
_______________________________________________________________________________
A-1 261,133.56 975,956.61 0.00 0.00 42,516,186.95
A-2 216,096.12 216,096.12 0.00 0.00 35,775,000.00
A-3 135,296.68 135,296.68 0.00 0.00 22,398,546.00
A-4 204,109.98 362,959.53 0.00 0.00 24,339,394.45
A-5 110,446.63 110,446.63 0.00 0.00 17,675,100.00
A-6 46,168.22 46,168.22 0.00 0.00 7,150,100.00
A-7 335,764.16 335,764.16 0.00 0.00 52,000,000.00
A-8 0.00 127.14 0.00 0.00 155,157.19
A-9 140,306.72 140,306.72 0.00 0.00 0.00
R 0.65 100.65 0.00 0.00 0.00
M-1 46,403.90 50,541.03 0.00 0.00 7,182,462.87
M-2 32,125.53 34,989.68 0.00 0.00 4,972,435.85
M-3 21,417.24 23,326.69 0.00 0.00 3,314,990.55
B-1 7,853.01 8,553.14 0.00 0.00 1,215,499.87
B-2 3,570.07 3,888.36 0.00 0.00 552,581.71
B-3 6,425.46 6,868.54 0.00 0.00 994,541.43
- -------------------------------------------------------------------------------
1,567,117.93 2,451,389.90 0.00 0.00 220,241,996.87
===============================================================================
Run: 06/30/97 14:51:09
Page: 2 of 3
RESIDENTIAL FUNDING CORPORATION (MASTER SERVICER)
RESIDENTIAL ACCREDIT LOANS, INC. (COMPANY)
MORTGAGE ASSET-BACKED PASS-THROUGH CERTIFICATES SERIES 1997-QS4 (POOL # 4247)
STATEMENT TO CERTIFICATEHOLDERS
DISTRIBUTION SUMMARY FOR POOL# 4247
_______________________________________________________________________________
AMOUNTS PER $1,000 UNIT
_______________________________________________________________________________
BEGINNING ENDING
BALANCE PRINCIPAL INTEREST TOTAL DEFERRED BALANCE
CLASS FACTOR FACTOR FACTOR DISTRIBUTION INTEREST FACTOR
_______________________________________________________________________________
A-1 1000.000000 16.534961 6.040422 22.575383 0.000000 983.465039
A-2 1000.000000 0.000000 6.040423 6.040423 0.000000 1000.000000
A-3 1000.000000 0.000000 6.040422 6.040422 0.000000 1000.000000
A-4 1000.000000 6.484120 8.331617 14.815737 0.000000 993.515880
A-5 1000.000000 0.000000 6.248713 6.248713 0.000000 1000.000000
A-6 1000.000000 0.000000 6.457003 6.457003 0.000000 1000.000000
A-7 1000.000000 0.000000 6.457003 6.457003 0.000000 1000.000000
A-8 1000.000000 0.818756 0.000000 0.818756 0.000000 999.181244
R 1000.000000 1000.00000 6.500000 1006.500000 0.000000 0.000000
M-1 1000.000000 0.575673 6.457003 7.032676 0.000000 999.424327
M-2 1000.000000 0.575674 6.457004 7.032678 0.000000 999.424326
M-3 1000.000000 0.575673 6.457005 7.032678 0.000000 999.424327
B-1 1000.000000 0.575670 6.457005 7.032675 0.000000 999.424330
B-2 1000.000000 0.575674 6.456990 7.032664 0.000000 999.424326
B-3 1000.000000 0.445255 6.457007 6.902262 0.000000 999.424316
_______________________________________________________________________________
DETERMINATION DATE 20-June-97
DISTRIBUTION DATE 25-June-97
Run: 06/30/97 14:51:10 rept2.frg
Page: 3 of 3
RESIDENTIAL FUNDING CORPORATION (MASTER SERVICER)
RESIDENTIAL ACCREDIT LOANS, INC. (COMPANY)
MORTGAGE ASSET-BACKED PASS-THROUGH CERTIFICATES 1997-QS4 (POOL # 4247)
STATEMENT TO CERTIFICATEHOLDERS
ADDITIONAL RELATED INFORMATION FOR POOL 4247
_______________________________________________________________________________
SERVICING COMPENSATION RECEIVED BY SUB-SERVICER 46,101.46
SERVICING COMPENSATION RECEIVED BY MASTER SERVICER 13,396.18
SUBSERVICER ADVANCES THIS MONTH 7,774.94
MASTER SERVICER ADVANCES THIS MONTH 0.00
NUMBER OF PRINCIPAL
DELINQUENCIES: LOANS BALANCE
(A) ONE MONTHLY PAYMENT: 8 1,013,750.00
(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 220,241,996.87
AGGREGATE NUMBER OF LOANS IN THE POOL AS OF THE
DETERMINATION DATE 1,967
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 757,080.98
TOTAL REPURCHASES INCLUDED IN THIS DISTRIBUTION 0.00
DISTRIBUTION PERCENTAGES:
SENIOR CLASS M CLASS B
CURRENT DISTRIBUTION 91.74416330 % 7.00489700 % 1.25093920 %
PREPAYMENT PERCENT 100.00000000 % 0.00000000 % 0.00000000 %
NEXT DISTRIBUTION 91.71576440 % 7.02404150 % 1.25524230 %
BANKRUPTCY AMOUNT AVAILABLE 146,943.00
FRAUD AMOUNT AVAILABLE 6,633,792.00
SPECIAL HAZARD AMOUNT AVAILABLE 2,211,264.00
ENDING GROSS WEIGHTED AVERAGE INTEREST RATE 8.83497358
ENDING WEIGHTED AVERAGE MATURITY, IN MONTHS 356.95
POOL TRADING FACTOR: 99.60004696
................................................................................
