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)
Februray 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 January 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
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: February 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 4,085,525.34 6.600000 % 3,915,615.47
A-2 76110FAB9 82,500,000.00 82,500,000.00 6.900000 % 0.00
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
- -------------------------------------------------------------------------------
258,459,514.42 210,370,660.97 3,915,615.47
===============================================================================
_______________________________________________________________________________
REMAINING
INTEREST TOTAL DEFERRED REALIZED PRINCIPAL
DISTRIBUTION DISTRIBUTION INTEREST LOSSES BALANCE
_______________________________________________________________________________
A-1 22,470.39 3,938,085.86 0.00 0.00 169,909.87
A-2 474,375.00 474,375.00 0.00 0.00 82,500,000.00
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 304,072.65 304,072.65 0.00 0.00 2,326,135.63
- -------------------------------------------------------------------------------
1,556,328.46 5,471,943.93 0.00 0.00 206,455,045.50
===============================================================================
_______________________________________________________________________________
AMOUNTS PER $1,000 UNIT
_______________________________________________________________________________
BEGINNING ENDING
BALANCE PRINCIPAL INTEREST TOTAL DEFERRED BALANCE
CLASS FACTOR FACTOR FACTOR DISTRIBUTION INTEREST FACTOR
_______________________________________________________________________________
A-1 74.963768 71.846155 0.412301 72.258456 0.000000 3.117612
A-2 1000.000000 0.000000 5.750000 5.750000 0.000000 1000.000000
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-February-97
DISTRIBUTION DATE 25-February-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 43,244.42
SERVICING COMPENSATION RECEIVED BY MASTER SERVICER 1,362.65
SUBSERVICER ADVANCES THIS MONTH 85,797.36
MASTER SERVICER ADVANCES THIS MONTH 4,690.78
NUMBER OF PRINCIPAL
DELINQUENCIES: LOANS BALANCE
(A) ONE MONTHLY PAYMENT: 52 4,903,103.43
(B) TWO MONTHLY PAYMENTS: 10 1,339,546.71
(C) THREE OR MORE MONTHLY PAYMENTS: 4 694,391.11
FORECLOSURES
NUMBER OF LOANS 19
AGGREGATE PRINCIPAL BALANCE 3,371,278.63
SCHEDULED PRINCIPAL BALANCE OF MORTGAGE LOANS AFTER
DISTRIBUTION 206,455,045.50
AGGREGATE NUMBER OF LOANS IN THE POOL AS OF THE
DETERMINATION DATE 2,181
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 589,473.25
REMAINING SUBCLASS INTEREST SHORTFALL 0.00
CLASS A SHORTFALL (PRINCIPAL) 0.00
CLASS A SHORTFALL (INTEREST) 0.00
TOTAL PREPAYMENTS INCLUDED IN THIS DISTRIBUTION 3,572,469.22
TOTAL REPURCHASES INCLUDED IN THIS DISTRIBUTION 0.00
DISTRIBUTION PERCENTAGES:
SENIOR SUBORDINATE
PERCENTAGE FOR CURRENT DISTRIBUTION 98.89426800 % 1.10573200 %
CURRENT PREPAYMENT PERCENTAGE 100.00000000 % 0.00000000 %
PERCENTAGE FOR NEXT DISTRIBUTION 98.87329680 % 1.12670320 %
BANKRUPTCY AMOUNT AVAILABLE 0.00
FRAUD AMOUNT AVAILABLE 0.00
SPECIAL HAZARD AMOUNT AVAILABLE 0.00
ENDING GROSS WEIGHTED AVERAGE INTEREST RATE 9.33248108
ENDING WEIGHTED AVERAGE MATURITY, IN MONTHS 315.23
POOL TRADING FACTOR: 79.87906577
................................................................................
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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 17,127,279.51 6.000000 % 3,252,714.96
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 20,575,448.83 5.840000 % 819,474.16
R 0.53 2,026,594.48 0.000000 % 0.00
- -------------------------------------------------------------------------------
255,942,104.53 214,281,458.82 4,072,189.12
===============================================================================
_______________________________________________________________________________
REMAINING
INTEREST TOTAL DEFERRED REALIZED PRINCIPAL
DISTRIBUTION DISTRIBUTION INTEREST LOSSES BALANCE
_______________________________________________________________________________
A-I-1 85,636.40 3,338,351.36 0.00 0.00 13,874,564.55
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 103,471.65 922,945.81 0.00 0.00 19,755,974.67
R 368,296.92 368,296.92 0.00 0.00 2,026,594.48
- -------------------------------------------------------------------------------
1,525,722.30 5,597,911.42 0.00 0.00 210,209,269.70
===============================================================================
_______________________________________________________________________________
AMOUNTS PER $1,000 UNIT
_______________________________________________________________________________
BEGINNING ENDING
BALANCE PRINCIPAL INTEREST TOTAL DEFERRED BALANCE
CLASS FACTOR FACTOR FACTOR DISTRIBUTION INTEREST FACTOR
_______________________________________________________________________________
A-I- 329.275776 62.534172 1.646379 64.180551 0.000000 266.741604
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 700.441574 27.897023 3.522443 31.419466 0.000000 672.544551
_______________________________________________________________________________
DETERMINATION DATE 20-February-97
DISTRIBUTION DATE 25-February-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 46,117.43
SERVICING COMPENSATION RECEIVED BY MASTER SERVICER 0.00
SUBSERVICER ADVANCES THIS MONTH 80,508.08
MASTER SERVICER ADVANCES THIS MONTH 2,681.60
NUMBER OF PRINCIPAL
DELINQUENCIES: LOANS BALANCE
(A) ONE MONTHLY PAYMENT: 35 4,344,544.53
(B) TWO MONTHLY PAYMENTS: 8 1,480,097.30
(C) THREE OR MORE MONTHLY PAYMENTS: 8 1,568,332.39
FORECLOSURES
NUMBER OF LOANS 14
AGGREGATE PRINCIPAL BALANCE 2,848,274.37
SCHEDULED PRINCIPAL BALANCE OF MORTGAGE LOANS AFTER
DISTRIBUTION 210,209,269.70
AGGREGATE NUMBER OF LOANS IN THE POOL AS OF THE
DETERMINATION DATE 1,697
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 305,708.11
REMAINING SUBCLASS INTEREST SHORTFALL 0.00
CLASS A SHORTFALL (PRINCIPAL) 0.00
CLASS A SHORTFALL (INTEREST) 0.00
TOTAL PREPAYMENTS INCLUDED IN THIS DISTRIBUTION 3,893,115.20
TOTAL REPURCHASES INCLUDED IN THIS DISTRIBUTION 0.00
DISTRIBUTION PERCENTAGES:
SENIOR SUBORDINATE
PERCENTAGE FOR CURRENT DISTRIBUTION 99.05423710 % 0.94576290 %
CURRENT PREPAYMENT PERCENTAGE 100.00000000 % 0.00000000 %
PERCENTAGE FOR NEXT DISTRIBUTION 99.03591570 % 0.96408430 %
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 8.97905000
ENDING WEIGHTED AVERAGE MATURITY, IN MONTHS 325.47
POOL TRADING FACTOR: 82.13157037
................................................................................
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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 24,142,314.43 6.400000 % 1,811,080.93
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 178,007.00 175,864.88 0.000000 % 1,060.33
R 0.00 1,819,114.18 0.000000 % 0.00
- -------------------------------------------------------------------------------
181,911,418.00 167,870,704.49 1,812,141.26
===============================================================================
_______________________________________________________________________________
REMAINING
INTEREST TOTAL DEFERRED REALIZED PRINCIPAL
DISTRIBUTION DISTRIBUTION INTEREST LOSSES BALANCE
_______________________________________________________________________________
A-1 128,759.01 1,939,839.94 0.00 0.00 22,331,233.50
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 1,060.33 0.00 0.00 174,804.55
R 188,300.79 188,300.79 0.00 0.00 1,819,114.18
- -------------------------------------------------------------------------------
1,172,331.11 2,984,472.37 0.00 0.00 166,058,563.23
===============================================================================
_______________________________________________________________________________
AMOUNTS PER $1,000 UNIT
_______________________________________________________________________________
BEGINNING ENDING
BALANCE PRINCIPAL INTEREST TOTAL DEFERRED BALANCE
CLASS FACTOR FACTOR FACTOR DISTRIBUTION INTEREST FACTOR
_______________________________________________________________________________
A-1 603.557861 45.277023 3.218975 48.495998 0.000000 558.280838
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-10 987.966091 5.956676 0.000000 5.956676 0.000000 982.009415
_______________________________________________________________________________
DETERMINATION DATE 20-February-97
DISTRIBUTION DATE 25-February-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 34,986.08
SERVICING COMPENSATION RECEIVED BY MASTER SERVICER 5,486.87
SUBSERVICER ADVANCES THIS MONTH 62,733.33
MASTER SERVICER ADVANCES THIS MONTH 0.00
NUMBER OF PRINCIPAL
DELINQUENCIES: LOANS BALANCE
(A) ONE MONTHLY PAYMENT: 32 4,824,318.30
(B) TWO MONTHLY PAYMENTS: 2 451,771.66
(C) THREE OR MORE MONTHLY PAYMENTS: 3 995,618.56
FORECLOSURES
NUMBER OF LOANS 11
AGGREGATE PRINCIPAL BALANCE 1,743,268.02
SCHEDULED PRINCIPAL BALANCE OF MORTGAGE LOANS AFTER
DISTRIBUTION 166,058,563.23
AGGREGATE NUMBER OF LOANS IN THE POOL AS OF THE
DETERMINATION DATE 1,548
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 1,671,698.89
TOTAL REPURCHASES INCLUDED IN THIS DISTRIBUTION 0.00
DISTRIBUTION PERCENTAGES:
SENIOR SUBORDINATE
PERCENTAGE FOR CURRENT DISTRIBUTION 98.91636000 % 1.08364010 %
CURRENT PREPAYMENT PERCENTAGE 100.00000000 % 0.00000000 %
PERCENTAGE FOR NEXT DISTRIBUTION 98.90453460 % 1.09546540 %
BANKRUPTCY AMOUNT AVAILABLE 0.00
FRAUD AMOUNT AVAILABLE 0.00
SPECIAL HAZARD AMOUNT AVAILABLE 0.00
ENDING GROSS WEIGHTED AVERAGE INTEREST RATE 8.79811476
ENDING WEIGHTED AVERAGE MATURITY, IN MONTHS 330.28
POOL TRADING FACTOR: 91.28539872
................................................................................
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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 30,615,404.75 6.780000 % 3,121,269.47
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 23,286,370.98 7.250000 % 436,999.58
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 19,319,818.80 7.750000 % 337,183.72
A-P 76110FBQ5 1,166,695.86 1,126,338.07 0.000000 % 10,686.29
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 12,459,052.41 7.750000 % 10,248.36
M-2 76110FBU6 5,568,000.00 5,537,135.64 7.750000 % 4,554.64
M-3 76110FBV4 4,176,000.00 4,152,851.73 7.750000 % 3,415.98
B-1 1,809,600.00 1,799,569.08 7.750000 % 1,480.26
B-2 696,000.00 692,141.95 7.750000 % 569.33
B-3 1,670,738.96 1,661,477.73 7.750000 % 1,366.67
SPRE 0.00 0.00 0.741474 % 0.00
STRI 0.00 0.00 0.000000 % 0.00
- -------------------------------------------------------------------------------
278,404,734.82 263,032,723.14 3,927,774.30
===============================================================================
_______________________________________________________________________________
REMAINING
INTEREST TOTAL DEFERRED REALIZED PRINCIPAL
DISTRIBUTION DISTRIBUTION INTEREST LOSSES BALANCE
_______________________________________________________________________________
A-I-1 172,928.39 3,294,197.86 0.00 0.00 27,494,135.28
A-I-2 154,873.10 154,873.10 0.00 0.00 26,000,000.00
A-I-3 64,352.60 64,352.60 0.00 0.00 10,596,000.00
A-I-4 140,648.92 577,648.50 0.00 0.00 22,849,371.40
A-I-5 115,516.68 115,516.68 0.00 0.00 18,587,000.00
A-I-6 140,080.59 140,080.59 0.00 0.00 21,696,000.00
A-I-7 51,955.59 51,955.59 0.00 0.00 8,047,000.00
A-I-8 112,575.83 112,575.83 0.00 0.00 17,436,000.00
A-I-9 162,349.12 162,349.12 0.00 0.00 25,145,000.00
A-I-10 122,673.82 122,673.82 0.00 0.00 19,000,000.00
A-I-11 102,500.84 102,500.84 0.00 0.00 15,875,562.00
A-II 124,738.74 461,922.46 0.00 0.00 18,982,635.08
A-P 0.00 10,686.29 0.00 0.00 1,115,651.78
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 80,442.08 90,690.44 0.00 0.00 12,448,804.05
M-2 35,750.61 40,305.25 0.00 0.00 5,532,581.00
M-3 26,812.96 30,228.94 0.00 0.00 4,149,435.75
B-1 11,618.95 13,099.21 0.00 0.00 1,798,088.82
B-2 4,468.82 5,038.15 0.00 0.00 691,572.62
B-3 10,727.36 12,094.03 0.00 0.00 1,660,111.06
SPRED 162,480.99 162,480.99 0.00 0.00 0.00
STRIP 55,988.02 55,988.02 0.00 0.00 0.00
- -------------------------------------------------------------------------------
1,853,484.01 5,781,258.31 0.00 0.00 259,104,948.84
===============================================================================
Run: 02/25/97 09:27:37
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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- 714.395164 72.833263 4.035198 76.868461 0.000000 641.561901
A-I- 1000.000000 0.000000 5.956658 5.956658 0.000000 1000.000000
A-I- 1000.000000 0.000000 6.073292 6.073292 0.000000 1000.000000
A-I- 931.454839 17.479983 5.625957 23.105940 0.000000 913.974856
A-I- 1000.000000 0.000000 6.214918 6.214918 0.000000 1000.000000
A-I- 1000.000000 0.000000 6.456517 6.456517 0.000000 1000.000000
A-I- 1000.000000 0.000000 6.456517 6.456517 0.000000 1000.000000
A-I- 1000.000000 0.000000 6.456517 6.456517 0.000000 1000.000000
A-I- 1000.000000 0.000000 6.456517 6.456517 0.000000 1000.000000
A-I- 1000.000000 0.000000 6.456517 6.456517 0.000000 1000.000000
A-I- 1000.000000 0.000000 6.456517 6.456517 0.000000 1000.000000
A-II 940.071386 16.406819 6.069587 22.476406 0.000000 923.664567
A-P 965.408474 9.159449 0.000000 9.159449 0.000000 956.249025
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-1 994.456831 0.818004 6.420727 7.238731 0.000000 993.638828
M-2 994.456832 0.818003 6.420727 7.238730 0.000000 993.638829
M-3 994.456832 0.818003 6.420728 7.238731 0.000000 993.638829
B-1 994.456830 0.818004 6.420728 7.238732 0.000000 993.638826
B-2 994.456825 0.818003 6.420718 7.238721 0.000000 993.638822
B-3 994.456806 0.818003 6.420728 7.238731 0.000000 993.638803
_______________________________________________________________________________
DETERMINATION DATE 20-February-97
DISTRIBUTION DATE 25-February-97
Run: 02/25/97 09:27:38 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 54,973.42
SERVICING COMPENSATION RECEIVED BY MASTER SERVICER 8,872.69
SUBSERVICER ADVANCES THIS MONTH 45,919.00
MASTER SERVICER ADVANCES THIS MONTH 0.00
NUMBER OF PRINCIPAL
DELINQUENCIES: LOANS BALANCE
(A) ONE MONTHLY PAYMENT: 32 3,692,530.62
(B) TWO MONTHLY PAYMENTS: 11 1,751,821.71
(C) THREE OR MORE MONTHLY PAYMENTS: 2 183,741.09
FORECLOSURES
NUMBER OF LOANS 2
AGGREGATE PRINCIPAL BALANCE 126,628.53
SCHEDULED PRINCIPAL BALANCE OF MORTGAGE LOANS AFTER
DISTRIBUTION 259,104,948.84
AGGREGATE NUMBER OF LOANS IN THE POOL AS OF THE
DETERMINATION DATE 2,313
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 3,710,408.84
TOTAL REPURCHASES INCLUDED IN THIS DISTRIBUTION 0.00
DISTRIBUTION PERCENTAGES:
SENIOR CLASS M CLASS B
CURRENT DISTRIBUTION 89.57218470 % 8.42064000 % 1.57896280 %
PREPAYMENT PERCENT 89.51977360 % 0.00000000 % 10.48022640 %
NEXT DISTRIBUTION 89.81330090 % 8.54125747 % 1.60850570 %
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 8.78534800
ENDING WEIGHTED AVERAGE MATURITY, IN MONTHS 332.06
POOL TRADING FACTOR: 93.06772351
................................................................................
Run: 02/25/97 09:27:40 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 38,390,759.94 6.850000 % 1,905,170.02
A-I- 76110FBX0 26,945,000.00 24,186,500.50 11.000000 % 698,556.81
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 15,180,889.86 7.250000 % 95,626.09
A-II 76110FCH4 8,580,000.00 8,580,000.00 7.650000 % 0.00
A-P 76110FCJ0 3,039,637.99 2,969,754.43 0.000000 % 25,347.44
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 13,168,996.51 8.000000 % 12,008.16
M-2 76110FCN1 5,570,800.00 5,544,903.49 8.000000 % 5,056.13
M-3 76110FCP6 4,456,600.00 4,435,882.98 8.000000 % 4,044.86
B-1 76110FCR2 2,228,400.00 2,218,041.02 8.000000 % 2,022.52
B-2 76110FCS0 696,400.00 693,162.71 8.000000 % 632.06
B-3 76110FCT8 1,671,255.97 1,663,486.96 8.000000 % 1,516.85
STRI 0.00 0.00 0.110639 % 0.00
SPRE 0.00 0.00 0.779257 % 0.00
- -------------------------------------------------------------------------------
278,535,793.96 267,214,378.40 2,749,980.94
===============================================================================
_______________________________________________________________________________
REMAINING
INTEREST TOTAL DEFERRED REALIZED PRINCIPAL
DISTRIBUTION DISTRIBUTION INTEREST LOSSES BALANCE
_______________________________________________________________________________
A-I-1 219,043.51 2,124,213.53 0.00 0.00 36,485,589.92
A-I-2 221,604.64 920,161.45 0.00 0.00 23,487,943.69
A-I-3 95,134.77 95,134.77 0.00 0.00 15,646,000.00
A-I-4 204,528.13 204,528.13 0.00 0.00 32,740,000.00
A-I-5 64,283.80 64,283.80 0.00 0.00 10,023,000.00
A-I-6 178,655.39 178,655.39 0.00 0.00 26,811,000.00
A-I-7 120,249.72 120,249.72 0.00 0.00 18,046,000.00
A-I-8 60,597.97 60,597.97 0.00 0.00 9,094,000.00
A-I-9 68,527.54 68,527.54 0.00 0.00 10,284,000.00
A-I-10 181,206.01 181,206.01 0.00 0.00 27,538,000.00
A-II-1 91,674.46 187,300.55 0.00 0.00 15,085,263.77
A-II-2 54,671.61 54,671.61 0.00 0.00 8,580,000.00
A-P 0.00 25,347.44 0.00 0.00 2,944,406.99
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 87,751.75 99,759.91 0.00 0.00 13,156,988.35
M-2 36,948.52 42,004.65 0.00 0.00 5,539,847.36
M-3 29,558.55 33,603.41 0.00 0.00 4,431,838.12
B-1 14,779.94 16,802.46 0.00 0.00 2,216,018.50
B-2 4,618.89 5,250.95 0.00 0.00 692,530.65
B-3 11,084.66 12,601.51 0.00 0.00 1,661,970.10
STRIP 15,877.02 15,877.02 0.00 0.00 0.00
SPRED 173,441.71 173,441.71 0.00 0.00 0.00
- -------------------------------------------------------------------------------
1,934,238.59 4,684,219.53 0.00 0.00 264,464,397.45
===============================================================================
Run: 02/25/97 09:27:40
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- 836.144965 41.494316 4.770735 46.265051 0.000000 794.650650
A-I- 897.624810 25.925285 8.224333 34.149618 0.000000 871.699525
A-I- 1000.000000 0.000000 6.080453 6.080453 0.000000 1000.000000
A-I- 1000.000000 0.000000 6.247041 6.247041 0.000000 1000.000000
A-I- 1000.000000 0.000000 6.413629 6.413629 0.000000 1000.000000
A-I- 1000.000000 0.000000 6.663511 6.663511 0.000000 1000.000000
A-I- 1000.000000 0.000000 6.663511 6.663511 0.000000 1000.000000
A-I- 1000.000000 0.000000 6.663511 6.663511 0.000000 1000.000000
A-I- 1000.000000 0.000000 6.663510 6.663510 0.000000 1000.000000
A-I- 1000.000000 0.000000 6.580217 6.580217 0.000000 1000.000000
A-II 947.561941 5.968797 5.722143 11.690940 0.000000 941.593145
A-II 1000.000000 0.000000 6.371983 6.371983 0.000000 1000.000000
A-P 977.009249 8.338966 0.000000 8.338966 0.000000 968.670283
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-1 995.351386 0.907612 6.632535 7.540147 0.000000 994.443774
M-2 995.351384 0.907613 6.632534 7.540147 0.000000 994.443771
M-3 995.351384 0.907611 6.632534 7.540145 0.000000 994.443773
B-1 995.351382 0.907611 6.632535 7.540146 0.000000 994.443771
B-2 995.351393 0.907611 6.632524 7.540135 0.000000 994.443782
B-3 995.351394 0.907611 6.632533 7.540144 0.000000 994.443776
_______________________________________________________________________________
DETERMINATION DATE 20-February-97
DISTRIBUTION DATE 25-February-97
Run: 02/25/97 09:27:41 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 55,559.45
SERVICING COMPENSATION RECEIVED BY MASTER SERVICER 9,793.83
SUBSERVICER ADVANCES THIS MONTH 49,563.08
MASTER SERVICER ADVANCES THIS MONTH 0.00
NUMBER OF PRINCIPAL
DELINQUENCIES: LOANS BALANCE
(A) ONE MONTHLY PAYMENT: 34 4,273,096.43
(B) TWO MONTHLY PAYMENTS: 7 760,644.72
(C) THREE OR MORE MONTHLY PAYMENTS: 1 61,940.71
FORECLOSURES
NUMBER OF LOANS 6
AGGREGATE PRINCIPAL BALANCE 1,018,274.14
SCHEDULED PRINCIPAL BALANCE OF MORTGAGE LOANS AFTER
DISTRIBUTION 264,464,397.45
AGGREGATE NUMBER OF LOANS IN THE POOL AS OF THE
DETERMINATION DATE 2,530
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 2,503,956.71
TOTAL REPURCHASES INCLUDED IN THIS DISTRIBUTION 0.00
DISTRIBUTION PERCENTAGES:
SENIOR CLASS M CLASS B
CURRENT DISTRIBUTION 88.51325730 % 8.66337500 % 1.71199270 %
PREPAYMENT PERCENT 100.00000000 % 0.00000000 % 0.00000000 %
NEXT DISTRIBUTION 89.40838400 % 8.74547729 % 1.74767490 %
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 9.01956100
ENDING WEIGHTED AVERAGE MATURITY, IN MONTHS 324.27
POOL TRADING FACTOR: 94.94808322
................................................................................
Run: 02/25/97 09:26:54 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 138,145,180.00 124,488,338.55 5.797500 % 2,150,212.70
R 973,833.13 1,754,469.23 0.000000 % 0.00
- -------------------------------------------------------------------------------
139,119,013.13 126,242,807.78 2,150,212.70
===============================================================================
_______________________________________________________________________________
REMAINING
INTEREST TOTAL DEFERRED REALIZED PRINCIPAL
DISTRIBUTION DISTRIBUTION INTEREST LOSSES BALANCE
_______________________________________________________________________________
A 580,812.38 2,731,025.08 0.00 0.00 122,338,125.85
R 0.00 0.00 195,496.88 0.00 1,949,966.11
- -------------------------------------------------------------------------------
580,812.38 2,731,025.08 195,496.88 0.00 124,288,091.96
===============================================================================
_______________________________________________________________________________
AMOUNTS PER $1,000 UNIT
_______________________________________________________________________________
BEGINNING ENDING
BALANCE PRINCIPAL INTEREST TOTAL DEFERRED BALANCE
CLASS FACTOR FACTOR FACTOR DISTRIBUTION INTEREST FACTOR
_______________________________________________________________________________
A 901.141383 15.564877 4.204362 19.769239 0.000000 885.576506
R 1801.611771 0.000000 0.000000 0.000000 200.749876 2002.361642
_______________________________________________________________________________
DETERMINATION DATE 20-February-97
DISTRIBUTION DATE 25-February-97
Run: 02/25/97 09:26:54 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 38,692.13
SERVICING COMPENSATION RECEIVED BY MASTER SERVICER 3,279.19
SUBSERVICER ADVANCES THIS MONTH 24,460.08
MASTER SERVICER ADVANCES THIS MONTH 0.00
NUMBER OF PRINCIPAL
DELINQUENCIES: LOANS BALANCE
(A) ONE MONTHLY PAYMENT: 18 3,149,085.51
(B) TWO MONTHLY PAYMENTS: 2 195,606.56
(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 124,288,091.96
AGGREGATE NUMBER OF LOANS IN THE POOL AS OF THE
DETERMINATION DATE 1,161
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 1,783,727.20
TOTAL REPURCHASES INCLUDED IN THIS DISTRIBUTION 0.00
DISTRIBUTION PERCENTAGES:
SENIOR SUBORDINATE
PERCENTAGE FOR CURRENT DISTRIBUTION 98.61024220 % 1.38975780 %
CURRENT PREPAYMENT PERCENTAGE 100.00000000 % 0.00000000 %
PERCENTAGE FOR NEXT DISTRIBUTION 98.43109180 % 1.56890820 %
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 7.96860619
ENDING WEIGHTED AVERAGE MATURITY, IN MONTHS 299.28
POOL TRADING FACTOR: 89.33940025
................................................................................
Run: 02/25/97 09:27:42 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 21,363,614.20 9.500000 % 868,410.61
A-I- 76110FCV3 25,000,000.00 23,520,215.89 7.600000 % 517,254.69
A-I- 76110FCW1 12,373,000.00 10,050,949.43 6.650000 % 811,666.75
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 10,596,678.99 8.000000 % 47,137.94
A-II 76110FDF7 4,525,000.00 4,525,000.00 8.000000 % 0.00
A-P 76110FDG5 1,105,878.69 1,097,039.17 0.000000 % 1,270.43
R 76110FDH3 100.00 0.00 8.000000 % 0.00
M-1 76110FDJ9 7,918,500.00 7,893,998.07 8.000000 % 6,315.91
M-2 76110FDK6 3,958,800.00 3,946,550.43 8.000000 % 3,157.60
M-3 76110FDL4 2,815,100.00 2,806,389.34 8.000000 % 2,245.36
B-1 76110FDM2 1,407,600.00 1,403,244.52 8.000000 % 1,122.72
B-2 76110FDN0 439,800.00 438,439.14 8.000000 % 350.79
B-3 76110FDP5 1,055,748.52 1,052,481.74 8.000000 % 842.08
SPRE 0.00 0.00 0.892749 % 0.00
- -------------------------------------------------------------------------------
175,944,527.21 169,029,600.92 2,259,774.88
===============================================================================
_______________________________________________________________________________
REMAINING
INTEREST TOTAL DEFERRED REALIZED PRINCIPAL
DISTRIBUTION DISTRIBUTION INTEREST LOSSES BALANCE
_______________________________________________________________________________
A-I-1 169,045.88 1,037,456.49 0.00 0.00 20,495,203.59
A-I-2 148,888.51 666,143.20 0.00 0.00 23,002,961.20
A-I-3 55,671.77 867,338.52 0.00 0.00 9,239,282.68
A-I-4 44,057.61 44,057.61 0.00 0.00 7,100,000.00
A-I-5 64,169.60 64,169.60 0.00 0.00 10,137,000.00
A-I-6 36,109.33 36,109.33 0.00 0.00 5,558,000.00
A-I-7 112,784.81 112,784.81 0.00 0.00 16,926,000.00
A-I-8 45,870.88 45,870.88 0.00 0.00 6,884,000.00
A-I-9 74,823.38 74,823.38 0.00 0.00 11,229,000.00
A-I-10 149,933.30 149,933.30 0.00 0.00 22,501,000.00
A-II-1 70,609.98 117,747.92 0.00 0.00 10,549,541.05
A-II-2 30,151.91 30,151.91 0.00 0.00 4,525,000.00
A-P 0.00 1,270.43 0.00 0.00 1,095,768.74
R 0.00 0.00 0.00 0.00 0.00
M-1 52,600.91 58,916.82 0.00 0.00 7,887,682.16
M-2 26,297.47 29,455.07 0.00 0.00 3,943,392.83
M-3 18,700.11 20,945.47 0.00 0.00 2,804,143.98
B-1 9,350.38 10,473.10 0.00 0.00 1,402,121.80
B-2 2,921.50 3,272.29 0.00 0.00 438,088.35
B-3 7,013.11 7,855.19 0.00 0.00 1,051,639.64
SPRED 125,689.32 125,689.32 0.00 0.00 0.00
- -------------------------------------------------------------------------------
1,244,689.76 3,504,464.64 0.00 0.00 166,769,826.02
===============================================================================
Run: 02/25/97 09:27:42
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- 895.824145 36.414400 7.088472 43.502872 0.000000 859.409745
A-I- 940.808636 20.690188 5.955540 26.645728 0.000000 920.118448
A-I- 812.329219 65.599834 4.499456 70.099290 0.000000 746.729385
A-I- 1000.000000 0.000000 6.205297 6.205297 0.000000 1000.000000
A-I- 1000.000000 0.000000 6.330236 6.330236 0.000000 1000.000000
A-I- 1000.000000 0.000000 6.496821 6.496821 0.000000 1000.000000
A-I- 1000.000000 0.000000 6.663406 6.663406 0.000000 1000.000000
A-I- 1000.000000 0.000000 6.663405 6.663405 0.000000 1000.000000
A-I- 1000.000000 0.000000 6.663405 6.663405 0.000000 1000.000000
A-I- 1000.000000 0.000000 6.663406 6.663406 0.000000 1000.000000
A-II 949.353072 4.223073 6.325925 10.548998 0.000000 945.129999
A-II 1000.000000 0.000000 6.663406 6.663406 0.000000 1000.000000
A-P 992.006791 1.148794 0.000000 1.148794 0.000000 990.857996
R 0.000000 0.000000 0.000000 0.000000 0.000000 0.000000
M-1 996.905736 0.797614 6.642787 7.440401 0.000000 996.108122
M-2 996.905737 0.797615 6.642788 7.440403 0.000000 996.108121
M-3 996.905737 0.797613 6.642787 7.440400 0.000000 996.108124
B-1 996.905740 0.797613 6.642782 7.440395 0.000000 996.108127
B-2 996.905730 0.797613 6.642792 7.440405 0.000000 996.108117
B-3 996.905721 0.797614 6.642785 7.440399 0.000000 996.108086
_______________________________________________________________________________
DETERMINATION DATE 20-February-97
DISTRIBUTION DATE 25-February-97
Run: 02/25/97 09:27:44 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 35,015.28
SERVICING COMPENSATION RECEIVED BY MASTER SERVICER 3,532.87
SUBSERVICER ADVANCES THIS MONTH 31,524.29
MASTER SERVICER ADVANCES THIS MONTH 0.00
NUMBER OF PRINCIPAL
DELINQUENCIES: LOANS BALANCE
(A) ONE MONTHLY PAYMENT: 37 3,462,984.67
(B) TWO MONTHLY PAYMENTS: 1 56,646.88
(C) THREE OR MORE MONTHLY PAYMENTS: 3 312,803.39
FORECLOSURES
NUMBER OF LOANS 1
AGGREGATE PRINCIPAL BALANCE 39,564.81
SCHEDULED PRINCIPAL BALANCE OF MORTGAGE LOANS AFTER
DISTRIBUTION 166,769,826.02
AGGREGATE NUMBER OF LOANS IN THE POOL AS OF THE
DETERMINATION DATE 1,582
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 2,123,550.07
TOTAL REPURCHASES INCLUDED IN THIS DISTRIBUTION 0.00
DISTRIBUTION PERCENTAGES:
SENIOR CLASS M CLASS B
CURRENT DISTRIBUTION 88.97344470 % 8.66530900 % 1.71222400 %
PREPAYMENT PERCENT 100.00000000 % 0.00000000 % 0.00000000 %
NEXT DISTRIBUTION 89.42075240 % 8.77569961 % 1.74550550 %
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 9.16650700
ENDING WEIGHTED AVERAGE MATURITY, IN MONTHS 331.11
POOL TRADING FACTOR: 94.78545804
................................................................................
Run: 02/25/97 09:27:45 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 18,723,838.89 7.050000 % 926,839.23
A-I- 76110FDR1 43,322,483.00 42,009,283.66 5.837500 % 880,497.25
A-I- 76110FDS9 0.00 0.00 3.162500 % 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 19,849,224.09 8.000000 % 71,955.89
A-P 76110FED1 601,147.92 598,980.86 0.000000 % 3,108.86
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 9,100,321.72 8.000000 % 7,265.63
M-2 76110FEH2 5,126,400.00 5,118,369.35 8.000000 % 4,086.47
M-3 76110FEJ8 3,645,500.00 3,639,789.21 8.000000 % 2,905.98
B-1 1,822,700.00 1,819,844.69 8.000000 % 1,452.95
B-2 569,600.00 568,707.71 8.000000 % 454.05
B-3 1,366,716.75 1,364,575.73 8.000000 % 1,089.39
SPRE 0.00 0.00 0.825106 % 0.00
- -------------------------------------------------------------------------------
227,839,864.67 224,853,298.91 1,899,655.70
===============================================================================
_______________________________________________________________________________
REMAINING
INTEREST TOTAL DEFERRED REALIZED PRINCIPAL
DISTRIBUTION DISTRIBUTION INTEREST LOSSES BALANCE
_______________________________________________________________________________
A-I-1 109,949.27 1,036,788.50 0.00 0.00 17,796,999.66
A-I-2 204,258.68 1,084,755.93 0.00 0.00 41,128,786.41
A-I-3 110,658.35 110,658.35 0.00 0.00 0.00
A-I-4 79,114.16 79,114.16 0.00 0.00 13,330,948.00
A-I-5 158,090.26 158,090.26 0.00 0.00 24,973,716.00
A-I-6 495.04 495.04 0.00 0.00 0.00
A-I-7 6,413.56 6,413.56 0.00 0.00 1,000,000.00
A-I-8 61,183.42 61,183.42 0.00 0.00 9,539,699.00
A-I-9 150,100.60 150,100.60 0.00 0.00 22,526,000.00
A-I-10 77,629.05 77,629.05 0.00 0.00 11,650,000.00
A-I-11 202,708.44 202,708.44 0.00 0.00 30,421,000.00
A-I-12 57,432.17 57,432.17 0.00 0.00 8,619,000.00
A-II 132,264.07 204,219.96 0.00 0.00 19,777,268.20
A-P 0.00 3,108.86 0.00 0.00 595,872.00
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 60,639.43 67,905.06 0.00 0.00 9,093,056.09
M-2 34,105.93 38,192.40 0.00 0.00 5,114,282.88
M-3 24,253.51 27,159.49 0.00 0.00 3,636,883.23
B-1 12,126.42 13,579.37 0.00 0.00 1,818,391.74
B-2 3,789.54 4,243.59 0.00 0.00 568,253.66
B-3 9,092.76 10,182.15 0.00 0.00 1,363,486.26
SPRED 154,531.59 154,531.59 0.00 0.00 0.00
- -------------------------------------------------------------------------------
1,648,836.25 3,548,491.95 0.00 0.00 222,953,643.13
===============================================================================
Run: 02/25/97 09:27:45
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- 931.249153 46.097291 5.468439 51.565730 0.000000 885.151863
A-I- 969.687810 20.324256 4.714842 25.039098 0.000000 949.363554
A-I- 1000.000000 0.000000 5.934624 5.934624 0.000000 1000.000000
A-I- 1000.000000 0.000000 6.330266 6.330266 0.000000 1000.000000
A-I- 1000.000000 0.000000 6.413560 6.413560 0.000000 1000.000000
A-I- 1000.000000 0.000000 6.413559 6.413559 0.000000 1000.000000
A-I- 1000.000000 0.000000 6.663438 6.663438 0.000000 1000.000000
A-I- 1000.000000 0.000000 6.663438 6.663438 0.000000 1000.000000
A-I- 1000.000000 0.000000 6.663438 6.663438 0.000000 1000.000000
A-I- 1000.000000 0.000000 6.663438 6.663438 0.000000 1000.000000
A-II 987.327104 3.579183 6.578993 10.158176 0.000000 983.747921
A-P 996.395130 5.171546 0.000000 5.171546 0.000000 991.223585
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-1 998.433472 0.797142 6.653000 7.450142 0.000000 997.636330
M-2 998.433472 0.797142 6.652998 7.450140 0.000000 997.636330
M-3 998.433469 0.797142 6.653000 7.450142 0.000000 997.636327
B-1 998.433472 0.797142 6.652998 7.450140 0.000000 997.636331
B-2 998.433480 0.797138 6.652985 7.450123 0.000000 997.636341
B-3 998.433457 0.797085 6.652995 7.450080 0.000000 997.636316
_______________________________________________________________________________
DETERMINATION DATE 20-February-97
DISTRIBUTION DATE 25-February-97
Run: 02/25/97 09:27:47 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 46,774.40
SERVICING COMPENSATION RECEIVED BY MASTER SERVICER 10,485.59
SUBSERVICER ADVANCES THIS MONTH 28,475.14
MASTER SERVICER ADVANCES THIS MONTH 0.00
NUMBER OF PRINCIPAL
DELINQUENCIES: LOANS BALANCE
(A) ONE MONTHLY PAYMENT: 12 2,044,458.21
(B) TWO MONTHLY PAYMENTS: 15 1,197,023.26
(C) THREE OR MORE MONTHLY PAYMENTS: 1 261,168.08
FORECLOSURES
NUMBER OF LOANS 0
AGGREGATE PRINCIPAL BALANCE 0.00
SCHEDULED PRINCIPAL BALANCE OF MORTGAGE LOANS AFTER
DISTRIBUTION 222,953,643.13
AGGREGATE NUMBER OF LOANS IN THE POOL AS OF THE
DETERMINATION DATE 2,074
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 1,719,613.35
TOTAL REPURCHASES INCLUDED IN THIS DISTRIBUTION 0.00
DISTRIBUTION PERCENTAGES:
SENIOR CLASS M CLASS B
CURRENT DISTRIBUTION 90.12218660 % 7.94228100 % 1.66914520 %
PREPAYMENT PERCENT 100.00000000 % 0.00000000 % 0.00000000 %
NEXT DISTRIBUTION 90.28846450 % 8.00355713 % 1.68653050 %
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 9.13197100
ENDING WEIGHTED AVERAGE MATURITY, IN MONTHS 333.84
POOL TRADING FACTOR: 97.85541413
................................................................................
Run: 02/25/97 09:27:06 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 3,954,108.55 7.400000 % 24,600.44
A-2 76110FEL3 4,074,824.00 3,964,955.99 7.300000 % 58,895.53
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 31,259,916.81 5.937500 % 171,348.62
A-8 76110FES8 0.00 0.00 3.062500 % 0.00
A-9 76110FET6 32,965,000.00 32,172,324.77 0.000000 % 424,919.20
A-10 76110FEU3 20,953,719.00 20,938,319.40 7.400000 % 8,255.06
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 115,824.70 115,567.83 0.000000 % 183.55
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 6,657,148.29 7.750000 % 3,919.10
M-2 76110FFC2 4,440,700.00 4,438,132.18 7.750000 % 2,612.76
M-3 76110FFD0 3,108,500.00 3,106,702.52 7.750000 % 1,828.93
B-1 1,509,500.00 1,508,627.14 7.750000 % 888.14
B-2 444,000.00 443,743.26 7.750000 % 261.23
B-3 1,154,562.90 1,153,895.24 7.750000 % 679.32
SPRE 0.00 0.00 0.914408 % 0.00
- -------------------------------------------------------------------------------
177,623,205.60 176,329,253.98 698,391.88
===============================================================================
_______________________________________________________________________________
REMAINING
INTEREST TOTAL DEFERRED REALIZED PRINCIPAL
DISTRIBUTION DISTRIBUTION INTEREST LOSSES BALANCE
_______________________________________________________________________________
A-1 24,373.46 48,973.90 0.00 0.00 3,929,508.11
A-2 24,110.05 83,005.58 0.00 0.00 3,906,060.46
A-3 77,095.93 77,095.93 0.00 0.00 13,128,206.00
A-4 22,895.06 22,895.06 0.00 0.00 3,765,148.00
A-5 64,722.90 64,722.90 0.00 0.00 10,500,000.00
A-6 16,029.71 16,029.71 0.00 0.00 2,600,500.00
A-7 154,606.72 325,955.34 0.00 0.00 31,088,568.19
A-8 79,744.52 79,744.52 0.00 0.00 0.00
A-9 196,772.96 621,692.16 0.00 0.00 31,747,405.57
A-10 129,065.59 137,320.65 0.00 0.00 20,930,064.34
A-11 90,217.43 90,217.43 0.00 0.00 13,975,000.00
A-12 12,911.26 12,911.26 0.00 0.00 2,000,000.00
A-13 133,289.13 133,289.13 0.00 0.00 20,646,958.00
A-14 0.00 183.55 0.00 0.00 115,384.28
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 42,976.08 46,895.18 0.00 0.00 6,653,229.19
M-2 28,650.94 31,263.70 0.00 0.00 4,435,519.42
M-3 20,055.72 21,884.65 0.00 0.00 3,104,873.59
B-1 9,739.14 10,627.28 0.00 0.00 1,507,739.00
B-2 2,864.64 3,125.87 0.00 0.00 443,482.03
B-3 7,449.12 8,128.44 0.00 0.00 1,153,215.92
SPRED 134,307.86 134,307.86 0.00 0.00 0.00
- -------------------------------------------------------------------------------
1,271,878.22 1,970,270.10 0.00 0.00 175,630,862.10
===============================================================================
Run: 02/25/97 09:27:06
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-1 988.527138 6.150109 6.093365 12.243474 0.000000 982.377028
A-2 973.037361 14.453515 5.916832 20.370347 0.000000 958.583846
A-3 1000.000000 0.000000 5.872541 5.872541 0.000000 1000.000000
A-4 1000.000000 0.000000 6.080786 6.080786 0.000000 1000.000000
A-5 1000.000000 0.000000 6.164086 6.164086 0.000000 1000.000000
A-6 1000.000000 0.000000 6.164088 6.164088 0.000000 1000.000000
A-7 989.878068 5.425934 4.895784 10.321718 0.000000 984.452134
A-9 975.954035 12.890011 5.969148 18.859159 0.000000 963.064025
A-10 999.265066 0.393967 6.159555 6.553522 0.000000 998.871100
A-11 1000.000000 0.000000 6.455630 6.455630 0.000000 1000.000000
A-12 1000.000000 0.000000 6.455630 6.455630 0.000000 1000.000000
A-13 1000.000000 0.000000 6.455630 6.455630 0.000000 1000.000000
A-14 997.782252 1.584722 0.000000 1.584722 0.000000 996.197530
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-1 999.421752 0.588365 6.451896 7.040261 0.000000 998.833387
M-2 999.421753 0.588367 6.451897 7.040264 0.000000 998.833387
M-3 999.421753 0.588364 6.451896 7.040260 0.000000 998.833389
B-1 999.421756 0.588367 6.451898 7.040265 0.000000 998.833389
B-2 999.421757 0.588356 6.451892 7.040248 0.000000 998.833401
B-3 999.421721 0.588370 6.451896 7.040266 0.000000 998.833346
_______________________________________________________________________________
DETERMINATION DATE 20-February-97
DISTRIBUTION DATE 25-February-97
Run: 02/25/97 09:27:08 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 36,743.00
SERVICING COMPENSATION RECEIVED BY MASTER SERVICER 10,486.98
SUBSERVICER ADVANCES THIS MONTH 37,432.95
MASTER SERVICER ADVANCES THIS MONTH 0.00
NUMBER OF PRINCIPAL
DELINQUENCIES: LOANS BALANCE
(A) ONE MONTHLY PAYMENT: 37 3,842,867.77
(B) TWO MONTHLY PAYMENTS: 7 916,750.00
(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 175,630,862.11
AGGREGATE NUMBER OF LOANS IN THE POOL AS OF THE
DETERMINATION DATE 1,624
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 594,529.53
TOTAL REPURCHASES INCLUDED IN THIS DISTRIBUTION 0.00
DISTRIBUTION PERCENTAGES:
SENIOR CLASS M CLASS B
CURRENT DISTRIBUTION 90.17769330 % 8.05952300 % 1.76278340 %
PREPAYMENT PERCENT 100.00000000 % 0.00000000 % 0.00000000 %
NEXT DISTRIBUTION 90.14442520 % 8.08150802 % 1.76875400 %
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 8.98897295
ENDING WEIGHTED AVERAGE MATURITY, IN MONTHS 352.51
POOL TRADING FACTOR: 98.87833153
................................................................................