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)
December 25, 1996
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 December 1996 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
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: December 25, 1996
<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 11,175,955.39 6.600000 % 3,268,257.02
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
- -------------------------------------------------------------------------------
258,459,514.42 217,461,091.02 3,268,257.02
===============================================================================
_______________________________________________________________________________
REMAINING
INTEREST TOTAL DEFERRED REALIZED PRINCIPAL
DISTRIBUTION DISTRIBUTION INTEREST LOSSES BALANCE
_______________________________________________________________________________
A-1 61,467.75 3,329,724.77 0.00 0.00 7,907,698.37
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 325,794.16 325,794.16 0.00 0.00 2,326,135.63
- -------------------------------------------------------------------------------
1,617,047.33 4,885,304.35 0.00 0.00 214,192,834.00
===============================================================================
_______________________________________________________________________________
AMOUNTS PER $1,000 UNIT
_______________________________________________________________________________
BEGINNING ENDING
BALANCE PRINCIPAL INTEREST TOTAL DEFERRED BALANCE
CLASS FACTOR FACTOR FACTOR DISTRIBUTION INTEREST FACTOR
_______________________________________________________________________________
A-1 205.063402 59.968019 1.127849 61.095868 0.000000 145.095383
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-December-96
DISTRIBUTION DATE 26-December-96
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Page: 2 of 2
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 44,843.28
SERVICING COMPENSATION RECEIVED BY MASTER SERVICER 1,737.30
SUBSERVICER ADVANCES THIS MONTH 99,524.94
MASTER SERVICER ADVANCES THIS MONTH 0.00
NUMBER OF PRINCIPAL
DELINQUENCIES: LOANS BALANCE
(A) ONE MONTHLY PAYMENT: 62 6,427,423.55
(B) TWO MONTHLY PAYMENTS: 9 1,760,041.38
(C) THREE OR MORE MONTHLY PAYMENTS: 3 584,273.11
FORECLOSURES
NUMBER OF LOANS 17
AGGREGATE PRINCIPAL BALANCE 3,142,766.68
SCHEDULED PRINCIPAL BALANCE OF MORTGAGE LOANS AFTER
DISTRIBUTION 214,192,834.00
AGGREGATE NUMBER OF LOANS IN THE POOL AS OF THE
DETERMINATION DATE 2,240
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 2,929,028.99
TOTAL REPURCHASES INCLUDED IN THIS DISTRIBUTION 142,237.88
DISTRIBUTION PERCENTAGES:
SENIOR SUBORDINATE
PERCENTAGE FOR CURRENT DISTRIBUTION 98.93032100 % 1.06967900 %
CURRENT PREPAYMENT PERCENTAGE 100.00000000 % 0.00000000 %
PERCENTAGE FOR NEXT DISTRIBUTION 98.91399930 % 1.08600070 %
BANKRUPTCY AMOUNT AVAILABLE 0.00
FRAUD AMOUNT AVAILABLE 0.00
SPECIAL HAZARD AMOUNT AVAILABLE 0.00
ENDING GROSS WEIGHTED AVERAGE INTEREST RATE 9.33149357
ENDING WEIGHTED AVERAGE MATURITY, IN MONTHS 317.44
POOL TRADING FACTOR: 82.87287643
................................................................................
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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 22,374,611.27 6.000000 % 2,081,227.91
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 22,132,743.53 5.777500 % 622,133.64
R 0.53 2,026,594.48 0.000000 % 0.00
- -------------------------------------------------------------------------------
255,942,104.53 221,086,085.28 2,703,361.55
===============================================================================
_______________________________________________________________________________
REMAINING
INTEREST TOTAL DEFERRED REALIZED PRINCIPAL
DISTRIBUTION DISTRIBUTION INTEREST LOSSES BALANCE
_______________________________________________________________________________
A-I-1 111,873.06 2,193,100.97 0.00 0.00 20,293,383.36
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 106,559.94 728,693.58 0.00 0.00 21,510,609.89
R 387,075.09 387,075.09 0.00 0.00 2,026,594.48
- -------------------------------------------------------------------------------
1,573,825.42 4,277,186.97 0.00 0.00 218,382,723.73
===============================================================================
_______________________________________________________________________________
AMOUNTS PER $1,000 UNIT
_______________________________________________________________________________
BEGINNING ENDING
BALANCE PRINCIPAL INTEREST TOTAL DEFERRED BALANCE
CLASS FACTOR FACTOR FACTOR DISTRIBUTION INTEREST FACTOR
_______________________________________________________________________________
A-I- 430.156902 40.012072 2.150785 42.162857 0.000000 390.144831
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 753.455920 21.179041 3.627576 24.806617 0.000000 732.276879
_______________________________________________________________________________
DETERMINATION DATE 20-December-96
DISTRIBUTION DATE 26-December-96
Run: 12/27/96 13:03:31 rept2.frg
Page: 2 of 2
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 48,003.66
SERVICING COMPENSATION RECEIVED BY MASTER SERVICER 7,333.32
SUBSERVICER ADVANCES THIS MONTH 86,605.35
MASTER SERVICER ADVANCES THIS MONTH 0.00
NUMBER OF PRINCIPAL
DELINQUENCIES: LOANS BALANCE
(A) ONE MONTHLY PAYMENT: 50 6,729,742.08
(B) TWO MONTHLY PAYMENTS: 11 2,788,788.61
(C) THREE OR MORE MONTHLY PAYMENTS: 3 476,552.91
FORECLOSURES
NUMBER OF LOANS 5
AGGREGATE PRINCIPAL BALANCE 1,006,498.82
SCHEDULED PRINCIPAL BALANCE OF MORTGAGE LOANS AFTER
DISTRIBUTION 218,382,723.73
AGGREGATE NUMBER OF LOANS IN THE POOL AS OF THE
DETERMINATION DATE 1,748
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 2,524,354.20
TOTAL REPURCHASES INCLUDED IN THIS DISTRIBUTION 0.00
DISTRIBUTION PERCENTAGES:
SENIOR SUBORDINATE
PERCENTAGE FOR CURRENT DISTRIBUTION 99.08334600 % 0.91665400 %
CURRENT PREPAYMENT PERCENTAGE 100.00000000 % 0.00000000 %
PERCENTAGE FOR NEXT DISTRIBUTION 99.07199870 % 0.92800130 %
BANKRUPTCY AMOUNT AVAILABLE 100,000.00
FRAUD AMOUNT AVAILABLE 7,678,263.00
SPECIAL HAZARD AMOUNT AVAILABLE 2,559,421.00
ENDING GROSS WEIGHTED AVERAGE INTEREST RATE 8.97779400
ENDING WEIGHTED AVERAGE MATURITY, IN MONTHS 327.75
POOL TRADING FACTOR: 85.32504807
................................................................................
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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 27,572,291.15 6.400000 % 2,246,837.21
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 178,007.00 176,293.49 0.000000 % 212.43
R 0.00 1,580,091.38 0.000000 % 0.00
- -------------------------------------------------------------------------------
181,911,418.00 171,062,087.02 2,247,049.64
===============================================================================
_______________________________________________________________________________
REMAINING
INTEREST TOTAL DEFERRED REALIZED PRINCIPAL
DISTRIBUTION DISTRIBUTION INTEREST LOSSES BALANCE
_______________________________________________________________________________
A-1 147,052.22 2,393,889.43 0.00 0.00 25,325,453.94
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 0.00 212.43 0.00 0.00 176,081.06
R 0.00 0.00 192,418.20 0.00 1,772,509.58
- -------------------------------------------------------------------------------
1,002,323.53 3,249,373.17 192,418.20 0.00 169,007,455.58
===============================================================================
_______________________________________________________________________________
AMOUNTS PER $1,000 UNIT
_______________________________________________________________________________
BEGINNING ENDING
BALANCE PRINCIPAL INTEREST TOTAL DEFERRED BALANCE
CLASS FACTOR FACTOR FACTOR DISTRIBUTION INTEREST FACTOR
_______________________________________________________________________________
A-1 689.307279 56.170930 3.676306 59.847236 0.000000 633.136349
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-10 990.373918 1.193380 0.000000 1.193380 0.000000 989.180538
_______________________________________________________________________________
DETERMINATION DATE 20-December-96
DISTRIBUTION DATE 26-December-96
Run: 12/27/96 13:02:42 rept2.frg
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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 35,641.32
SERVICING COMPENSATION RECEIVED BY MASTER SERVICER 5,077.09
SUBSERVICER ADVANCES THIS MONTH 50,916.37
MASTER SERVICER ADVANCES THIS MONTH 0.00
NUMBER OF PRINCIPAL
DELINQUENCIES: LOANS BALANCE
(A) ONE MONTHLY PAYMENT: 34 3,630,209.63
(B) TWO MONTHLY PAYMENTS: 2 549,621.99
(C) THREE OR MORE MONTHLY PAYMENTS: 4 821,844.71
FORECLOSURES
NUMBER OF LOANS 10
AGGREGATE PRINCIPAL BALANCE 1,547,109.61
SCHEDULED PRINCIPAL BALANCE OF MORTGAGE LOANS AFTER
DISTRIBUTION 169,007,455.58
AGGREGATE NUMBER OF LOANS IN THE POOL AS OF THE
DETERMINATION DATE 1,568
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 1,910,967.51
TOTAL REPURCHASES INCLUDED IN THIS DISTRIBUTION 0.00
DISTRIBUTION PERCENTAGES:
SENIOR SUBORDINATE
PERCENTAGE FOR CURRENT DISTRIBUTION 99.07630530 % 0.92369470 %
CURRENT PREPAYMENT PERCENTAGE 100.00000000 % 0.00000000 %
PERCENTAGE FOR NEXT DISTRIBUTION 98.95122400 % 1.04877600 %
BANKRUPTCY AMOUNT AVAILABLE 0.00
FRAUD AMOUNT AVAILABLE 0.00
SPECIAL HAZARD AMOUNT AVAILABLE 0.00
ENDING GROSS WEIGHTED AVERAGE INTEREST RATE 8.79843558
ENDING WEIGHTED AVERAGE MATURITY, IN MONTHS 332.22
POOL TRADING FACTOR: 92.90645823
................................................................................
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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 34,728,422.20 6.780000 % 1,466,477.31
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 23,862,222.22 7.250000 % 205,317.09
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 19,750,685.30 7.750000 % 362,991.67
A-P 76110FBQ5 1,166,695.86 1,157,276.27 0.000000 % 20,355.09
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 12,479,344.40 7.750000 % 10,096.65
M-2 76110FBU6 5,568,000.00 5,546,153.94 7.750000 % 4,487.22
M-3 76110FBV4 4,176,000.00 4,159,615.46 7.750000 % 3,365.42
B-1 1,809,600.00 1,802,500.03 7.750000 % 1,458.35
B-2 696,000.00 693,269.24 7.750000 % 560.90
B-3 1,670,738.96 1,664,183.78 7.750000 % 1,346.44
SPRE 0.00 0.00 0.743957 % 0.00
STRI 0.00 0.00 0.000000 % 0.00
- -------------------------------------------------------------------------------
278,404,734.82 268,226,234.84 2,076,456.14
===============================================================================
_______________________________________________________________________________
REMAINING
INTEREST TOTAL DEFERRED REALIZED PRINCIPAL
DISTRIBUTION DISTRIBUTION INTEREST LOSSES BALANCE
_______________________________________________________________________________
A-I-1 196,176.45 1,662,653.76 0.00 0.00 33,261,944.89
A-I-2 154,885.77 154,885.77 0.00 0.00 26,000,000.00
A-I-3 64,357.86 64,357.86 0.00 0.00 10,596,000.00
A-I-4 144,138.83 349,455.92 0.00 0.00 23,656,905.13
A-I-5 115,526.13 115,526.13 0.00 0.00 18,587,000.00
A-I-6 140,092.05 140,092.05 0.00 0.00 21,696,000.00
A-I-7 51,959.84 51,959.84 0.00 0.00 8,047,000.00
A-I-8 112,585.04 112,585.04 0.00 0.00 17,436,000.00
A-I-9 162,362.40 162,362.40 0.00 0.00 25,145,000.00
A-I-10 122,683.85 122,683.85 0.00 0.00 19,000,000.00
A-I-11 102,509.22 102,509.22 0.00 0.00 15,875,562.00
A-II 127,531.06 490,522.73 0.00 0.00 19,387,693.63
A-P 0.00 20,355.09 0.00 0.00 1,136,921.18
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 80,579.69 90,676.34 0.00 0.00 12,469,247.75
M-2 35,811.76 40,298.98 0.00 0.00 5,541,666.72
M-3 26,858.82 30,224.24 0.00 0.00 4,156,250.04
B-1 11,638.83 13,097.18 0.00 0.00 1,801,041.68
B-2 4,476.47 5,037.37 0.00 0.00 692,708.34
B-3 10,745.71 12,092.15 0.00 0.00 1,662,837.34
SPRED 166,257.43 166,257.43 0.00 0.00 0.00
STRIP 59,556.51 59,556.51 0.00 0.00 0.00
- -------------------------------------------------------------------------------
1,890,733.72 3,967,189.86 0.00 0.00 266,149,778.70
===============================================================================
Run: 12/27/96 13:03:33
Page: 2 of 3
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- 810.370370 34.219515 4.577679 38.797194 0.000000 776.150855
A-I- 1000.000000 0.000000 5.957145 5.957145 0.000000 1000.000000
A-I- 1000.000000 0.000000 6.073788 6.073788 0.000000 1000.000000
A-I- 954.488889 8.212684 5.765553 13.978237 0.000000 946.276205
A-I- 1000.000000 0.000000 6.215426 6.215426 0.000000 1000.000000
A-I- 1000.000000 0.000000 6.457045 6.457045 0.000000 1000.000000
A-I- 1000.000000 0.000000 6.457045 6.457045 0.000000 1000.000000
A-I- 1000.000000 0.000000 6.457045 6.457045 0.000000 1000.000000
A-I- 1000.000000 0.000000 6.457045 6.457045 0.000000 1000.000000
A-I- 1000.000000 0.000000 6.457045 6.457045 0.000000 1000.000000
A-I- 1000.000000 0.000000 6.457045 6.457045 0.000000 1000.000000
A-II 961.036658 17.662592 6.205457 23.868049 0.000000 943.374066
A-P 991.926268 17.446786 0.000000 17.446786 0.000000 974.479482
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-1 996.076498 0.805895 6.431711 7.237606 0.000000 995.270603
M-2 996.076498 0.805894 6.431710 7.237604 0.000000 995.270603
M-3 996.076499 0.805896 6.431710 7.237606 0.000000 995.270603
B-1 996.076498 0.805896 6.431714 7.237610 0.000000 995.270601
B-2 996.076494 0.805891 6.431710 7.237601 0.000000 995.270603
B-3 996.076479 0.805895 6.431711 7.237606 0.000000 995.270586
_______________________________________________________________________________
DETERMINATION DATE 20-December-96
DISTRIBUTION DATE 26-December-96
Run: 12/27/96 13:03:34 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 56,121.01
SERVICING COMPENSATION RECEIVED BY MASTER SERVICER 11,091.05
SUBSERVICER ADVANCES THIS MONTH 43,437.88
MASTER SERVICER ADVANCES THIS MONTH 0.00
NUMBER OF PRINCIPAL
DELINQUENCIES: LOANS BALANCE
(A) ONE MONTHLY PAYMENT: 37 4,510,942.29
(B) TWO MONTHLY PAYMENTS: 6 806,599.12
(C) THREE OR MORE MONTHLY PAYMENTS: 1 23,379.35
FORECLOSURES
NUMBER OF LOANS 2
AGGREGATE PRINCIPAL BALANCE 141,278.21
SCHEDULED PRINCIPAL BALANCE OF MORTGAGE LOANS AFTER
DISTRIBUTION 266,149,778.70
AGGREGATE NUMBER OF LOANS IN THE POOL AS OF THE
DETERMINATION DATE 2,352
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 1,858,626.53
TOTAL REPURCHASES INCLUDED IN THIS DISTRIBUTION 0.00
DISTRIBUTION PERCENTAGES:
SENIOR CLASS M CLASS B
CURRENT DISTRIBUTION 89.74658720 % 8.27104500 % 1.55091210 %
PREPAYMENT PERCENT 89.51977360 % 0.00000000 % 10.48022640 %
NEXT DISTRIBUTION 90.06699070 % 8.32883071 % 1.56844740 %
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 8.79191100
ENDING WEIGHTED AVERAGE MATURITY, IN MONTHS 334.68
POOL TRADING FACTOR: 95.59815097
................................................................................
Run: 12/27/96 13:03:35 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 41,576,524.00 6.850000 % 1,845,521.16
A-I- 76110FBX0 26,945,000.00 25,354,604.73 11.000000 % 676,685.73
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 15,619,082.93 7.250000 % 183,835.83
A-II 76110FCH4 8,580,000.00 8,580,000.00 7.650000 % 0.00
A-P 76110FCJ0 3,039,637.99 3,013,342.91 0.000000 % 5,211.69
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 13,192,702.21 8.000000 % 11,773.32
M-2 76110FCN1 5,570,800.00 5,554,884.96 8.000000 % 4,957.25
M-3 76110FCP6 4,456,600.00 4,443,868.08 8.000000 % 3,965.76
B-1 76110FCR2 2,228,400.00 2,222,033.75 8.000000 % 1,982.97
B-2 76110FCS0 696,400.00 694,410.48 8.000000 % 619.70
B-3 76110FCT8 1,671,255.97 1,666,481.44 8.000000 % 1,487.17
STRI 0.00 0.00 0.110401 % 0.00
SPRE 0.00 0.00 0.783383 % 0.00
- -------------------------------------------------------------------------------
278,535,793.96 272,099,935.49 2,736,040.58
===============================================================================
_______________________________________________________________________________
REMAINING
INTEREST TOTAL DEFERRED REALIZED PRINCIPAL
DISTRIBUTION DISTRIBUTION INTEREST LOSSES BALANCE
_______________________________________________________________________________
A-I-1 237,226.76 2,082,747.92 0.00 0.00 39,731,002.84
A-I-2 232,313.51 908,999.24 0.00 0.00 24,677,919.00
A-I-3 95,137.36 95,137.36 0.00 0.00 15,646,000.00
A-I-4 204,533.70 204,533.70 0.00 0.00 32,740,000.00
A-I-5 64,285.55 64,285.55 0.00 0.00 10,023,000.00
A-I-6 178,660.25 178,660.25 0.00 0.00 26,811,000.00
A-I-7 120,252.99 120,252.99 0.00 0.00 18,046,000.00
A-I-8 60,599.62 60,599.62 0.00 0.00 9,094,000.00
A-I-9 68,529.41 68,529.41 0.00 0.00 10,284,000.00
A-I-10 181,210.94 181,210.94 0.00 0.00 27,538,000.00
A-II-1 94,323.19 278,159.02 0.00 0.00 15,435,247.10
A-II-2 54,673.09 54,673.09 0.00 0.00 8,580,000.00
A-P 0.00 5,211.69 0.00 0.00 3,008,131.22
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 87,912.11 99,685.43 0.00 0.00 13,180,928.89
M-2 37,016.05 41,973.30 0.00 0.00 5,549,927.71
M-3 29,612.57 33,578.33 0.00 0.00 4,439,902.32
B-1 14,806.95 16,789.92 0.00 0.00 2,220,050.78
B-2 4,627.33 5,247.03 0.00 0.00 693,790.78
B-3 11,104.92 12,592.09 0.00 0.00 1,664,994.25
STRIP 16,283.90 16,283.90 0.00 0.00 0.00
SPRED 177,552.80 177,552.80 0.00 0.00 0.00
- -------------------------------------------------------------------------------
1,970,663.00 4,706,703.58 0.00 0.00 269,363,894.89
===============================================================================
Run: 12/27/96 13:03:35
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- 905.530426 40.195173 5.166763 45.361936 0.000000 865.335254
A-I- 940.976238 25.113592 8.621767 33.735359 0.000000 915.862646
A-I- 1000.000000 0.000000 6.080619 6.080619 0.000000 1000.000000
A-I- 1000.000000 0.000000 6.247211 6.247211 0.000000 1000.000000
A-I- 1000.000000 0.000000 6.413803 6.413803 0.000000 1000.000000
A-I- 1000.000000 0.000000 6.663692 6.663692 0.000000 1000.000000
A-I- 1000.000000 0.000000 6.663692 6.663692 0.000000 1000.000000
A-I- 1000.000000 0.000000 6.663693 6.663693 0.000000 1000.000000
A-I- 1000.000000 0.000000 6.663692 6.663692 0.000000 1000.000000
A-I- 1000.000000 0.000000 6.580396 6.580396 0.000000 1000.000000
A-II 974.913110 11.474679 5.887472 17.362151 0.000000 963.438431
A-II 1000.000000 0.000000 6.372155 6.372155 0.000000 1000.000000
A-P 991.349272 1.714576 0.000000 1.714576 0.000000 989.634696
R-I 0.000000 0.000000 0.000000 0.000000 0.000000 0.000000
R-II 0.000000 0.000000 0.000000 0.000000 0.000000 0.000000
M-1 997.143132 0.889862 6.644655 7.534517 0.000000 996.253270
M-2 997.143132 0.889863 6.644656 7.534519 0.000000 996.253269
M-3 997.143132 0.889862 6.644655 7.534517 0.000000 996.253269
B-1 997.143130 0.889863 6.644655 7.534518 0.000000 996.253267
B-2 997.143136 0.889862 6.644644 7.534506 0.000000 996.253274
B-3 997.143149 0.889852 6.644655 7.534507 0.000000 996.253286
_______________________________________________________________________________
DETERMINATION DATE 20-December-96
DISTRIBUTION DATE 26-December-96
Run: 12/27/96 13:03:36 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 56,578.73
SERVICING COMPENSATION RECEIVED BY MASTER SERVICER 9,720.56
SUBSERVICER ADVANCES THIS MONTH 44,328.72
MASTER SERVICER ADVANCES THIS MONTH 0.00
NUMBER OF PRINCIPAL
DELINQUENCIES: LOANS BALANCE
(A) ONE MONTHLY PAYMENT: 45 4,949,469.76
(B) TWO MONTHLY PAYMENTS: 3 185,922.64
(C) THREE OR MORE MONTHLY PAYMENTS: 2 225,423.39
FORECLOSURES
NUMBER OF LOANS 1
AGGREGATE PRINCIPAL BALANCE 35,949.19
SCHEDULED PRINCIPAL BALANCE OF MORTGAGE LOANS AFTER
DISTRIBUTION 269,363,894.89
AGGREGATE NUMBER OF LOANS IN THE POOL AS OF THE
DETERMINATION DATE 2,559
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 2,491,181.35
TOTAL REPURCHASES INCLUDED IN THIS DISTRIBUTION 0.00
DISTRIBUTION PERCENTAGES:
SENIOR CLASS M CLASS B
CURRENT DISTRIBUTION 88.68514110 % 8.52313900 % 1.68428030 %
PREPAYMENT PERCENT 100.00000000 % 0.00000000 % 0.00000000 %
NEXT DISTRIBUTION 89.58175550 % 8.60202847 % 1.71906770 %
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 9.01885400
ENDING WEIGHTED AVERAGE MATURITY, IN MONTHS 326.90
POOL TRADING FACTOR: 96.70710219
................................................................................
Run: 12/27/96 13:03:07 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 138,145,180.00 129,280,436.79 5.735000 % 2,212,593.84
R 973,833.13 1,498,005.01 0.000000 % 0.00
- -------------------------------------------------------------------------------
139,119,013.13 130,778,441.80 2,212,593.84
===============================================================================
_______________________________________________________________________________
REMAINING
INTEREST TOTAL DEFERRED REALIZED PRINCIPAL
DISTRIBUTION DISTRIBUTION INTEREST LOSSES BALANCE
_______________________________________________________________________________
A 638,293.46 2,850,887.30 0.00 0.00 127,067,842.95
R 0.00 0.00 151,800.29 0.00 1,649,805.30
- -------------------------------------------------------------------------------
638,293.46 2,850,887.30 151,800.29 0.00 128,717,648.25
===============================================================================
_______________________________________________________________________________
AMOUNTS PER $1,000 UNIT
_______________________________________________________________________________
BEGINNING ENDING
BALANCE PRINCIPAL INTEREST TOTAL DEFERRED BALANCE
CLASS FACTOR FACTOR FACTOR DISTRIBUTION INTEREST FACTOR
_______________________________________________________________________________
A 935.830239 16.016439 4.620454 20.636893 0.000000 919.813800
R 1538.256364 0.000000 0.000000 0.000000 155.879160 1694.135522
_______________________________________________________________________________
DETERMINATION DATE 20-December-96
DISTRIBUTION DATE 26-December-96
Run: 12/27/96 13:03:07 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 40,034.28
SERVICING COMPENSATION RECEIVED BY MASTER SERVICER 3,073.00
SUBSERVICER ADVANCES THIS MONTH 21,612.05
MASTER SERVICER ADVANCES THIS MONTH 0.00
NUMBER OF PRINCIPAL
DELINQUENCIES: LOANS BALANCE
(A) ONE MONTHLY PAYMENT: 13 2,776,772.22
(B) TWO MONTHLY PAYMENTS: 3 315,135.09
(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 128,717,648.25
AGGREGATE NUMBER OF LOANS IN THE POOL AS OF THE
DETERMINATION DATE 1,182
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 1,884,983.92
TOTAL REPURCHASES INCLUDED IN THIS DISTRIBUTION 0.00
DISTRIBUTION PERCENTAGES:
SENIOR SUBORDINATE
PERCENTAGE FOR CURRENT DISTRIBUTION 98.85454740 % 1.14545260 %
CURRENT PREPAYMENT PERCENTAGE 100.00000000 % 0.00000000 %
PERCENTAGE FOR NEXT DISTRIBUTION 98.71827580 % 1.28172420 %
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 7.88220441
ENDING WEIGHTED AVERAGE MATURITY, IN MONTHS 302.16
POOL TRADING FACTOR: 92.52340522
................................................................................
Run: 12/27/96 13:03:37 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 23,111,049.56 9.500000 % 828,853.63
A-I- 76110FCV3 25,000,000.00 24,561,047.42 7.600000 % 493,693.22
A-I- 76110FCW1 12,373,000.00 11,684,203.52 6.650000 % 774,694.51
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 11,060,545.52 8.000000 % 417,776.69
A-II 76110FDF7 4,525,000.00 4,525,000.00 8.000000 % 0.00
A-P 76110FDG5 1,105,878.69 1,099,526.26 0.000000 % 1,232.75
R 76110FDH3 100.00 0.00 8.000000 % 0.00
M-1 76110FDJ9 7,918,500.00 7,906,325.10 8.000000 % 6,117.62
M-2 76110FDK6 3,958,800.00 3,952,713.24 8.000000 % 3,058.46
M-3 76110FDL4 2,815,100.00 2,810,771.71 8.000000 % 2,174.87
B-1 76110FDM2 1,407,600.00 1,405,435.78 8.000000 % 1,087.47
B-2 76110FDN0 439,800.00 439,123.80 8.000000 % 339.78
B-3 76110FDP5 1,055,748.52 1,054,125.25 8.000000 % 815.64
SPRE 0.00 0.00 0.897502 % 0.00
- -------------------------------------------------------------------------------
175,944,527.21 173,944,867.16 2,529,844.64
===============================================================================
_______________________________________________________________________________
REMAINING
INTEREST TOTAL DEFERRED REALIZED PRINCIPAL
DISTRIBUTION DISTRIBUTION INTEREST LOSSES BALANCE
_______________________________________________________________________________
A-I-1 182,936.39 1,011,790.02 0.00 0.00 22,282,195.93
A-I-2 155,531.11 649,224.33 0.00 0.00 24,067,354.20
A-I-3 64,740.73 839,435.24 0.00 0.00 10,909,509.01
A-I-4 44,072.88 44,072.88 0.00 0.00 7,100,000.00
A-I-5 64,191.84 64,191.84 0.00 0.00 10,137,000.00
A-I-6 36,121.85 36,121.85 0.00 0.00 5,558,000.00
A-I-7 112,823.91 112,823.91 0.00 0.00 16,926,000.00
A-I-8 45,886.78 45,886.78 0.00 0.00 6,884,000.00
A-I-9 74,849.32 74,849.32 0.00 0.00 11,229,000.00
A-I-10 149,985.28 149,985.28 0.00 0.00 22,501,000.00
A-II-1 73,726.45 491,503.14 0.00 0.00 10,642,768.83
A-II-2 30,162.37 30,162.37 0.00 0.00 4,525,000.00
A-P 0.00 1,232.75 0.00 0.00 1,098,293.51
R 0.00 0.00 0.00 0.00 0.00
M-1 52,701.31 58,818.93 0.00 0.00 7,900,207.48
M-2 26,347.66 29,406.12 0.00 0.00 3,949,654.78
M-3 18,735.81 20,910.68 0.00 0.00 2,808,596.84
B-1 9,368.23 10,455.70 0.00 0.00 1,404,348.31
B-2 2,927.07 3,266.85 0.00 0.00 438,784.02
B-3 7,026.50 7,842.14 0.00 0.00 1,053,309.61
SPRED 130,077.94 130,077.94 0.00 0.00 0.00
- -------------------------------------------------------------------------------
1,282,213.43 3,812,058.07 0.00 0.00 171,415,022.52
===============================================================================
Run: 12/27/96 13:03:37
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- 969.098019 34.755687 7.670932 42.426619 0.000000 934.342332
A-I- 982.441897 19.747729 6.221244 25.968973 0.000000 962.694168
A-I- 944.330681 62.611696 5.232420 67.844116 0.000000 881.718986
A-I- 1000.000000 0.000000 6.207448 6.207448 0.000000 1000.000000
A-I- 1000.000000 0.000000 6.332430 6.332430 0.000000 1000.000000
A-I- 1000.000000 0.000000 6.499073 6.499073 0.000000 1000.000000
A-I- 1000.000000 0.000000 6.665716 6.665716 0.000000 1000.000000
A-I- 1000.000000 0.000000 6.665715 6.665715 0.000000 1000.000000
A-I- 1000.000000 0.000000 6.665716 6.665716 0.000000 1000.000000
A-I- 1000.000000 0.000000 6.665716 6.665716 0.000000 1000.000000
A-II 990.910726 37.428480 6.605129 44.033609 0.000000 953.482246
A-II 1000.000000 0.000000 6.665717 6.665717 0.000000 1000.000000
A-P 994.255762 1.114722 0.000000 1.114722 0.000000 993.141041
R 0.000000 0.000000 0.000000 0.000000 0.000000 0.000000
M-1 998.462474 0.772573 6.655466 7.428039 0.000000 997.689901
M-2 998.462473 0.772572 6.655466 7.428038 0.000000 997.689901
M-3 998.462474 0.772573 6.655469 7.428042 0.000000 997.689901
B-1 998.462475 0.772570 6.655463 7.428033 0.000000 997.689905
B-2 998.462483 0.772578 6.655457 7.428035 0.000000 997.689905
B-3 998.462446 0.772570 6.655468 7.428038 0.000000 997.689873
_______________________________________________________________________________
DETERMINATION DATE 20-December-96
DISTRIBUTION DATE 26-December-96
Run: 12/27/96 13:03:39 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 36,087.46
SERVICING COMPENSATION RECEIVED BY MASTER SERVICER 4,983.35
SUBSERVICER ADVANCES THIS MONTH 35,404.13
MASTER SERVICER ADVANCES THIS MONTH 0.00
NUMBER OF PRINCIPAL
DELINQUENCIES: LOANS BALANCE
(A) ONE MONTHLY PAYMENT: 47 3,757,799.97
(B) TWO MONTHLY PAYMENTS: 7 354,587.84
(C) THREE OR MORE MONTHLY PAYMENTS: 2 152,850.00
FORECLOSURES
NUMBER OF LOANS 0
AGGREGATE PRINCIPAL BALANCE 0.00
SCHEDULED PRINCIPAL BALANCE OF MORTGAGE LOANS AFTER
DISTRIBUTION 171,415,022.52
AGGREGATE NUMBER OF LOANS IN THE POOL AS OF THE
DETERMINATION DATE 1,617
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 2,394,455.96
TOTAL REPURCHASES INCLUDED IN THIS DISTRIBUTION 0.00
DISTRIBUTION PERCENTAGES:
SENIOR CLASS M CLASS B
CURRENT DISTRIBUTION 89.26785170 % 8.43359800 % 1.66643880 %
PREPAYMENT PERCENT 100.00000000 % 0.00000000 % 0.00000000 %
NEXT DISTRIBUTION 89.69279110 % 8.55144367 % 1.70062090 %
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 9.17681900
ENDING WEIGHTED AVERAGE MATURITY, IN MONTHS 334.10
POOL TRADING FACTOR: 97.42560638
................................................................................
Run: 12/27/96 13:03:39 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- 7611OFDQ3 20,106,154.00 20,106,154.00 7.050000 % 396,952.36
A-I- 7611OFDR1 43,322,483.00 43,322,483.00 5.837500 % 377,104.74
A-I- 7611OFDS9 0.00 0.00 3.162500 % 0.00
A-I- 7611OFDT7 13,330,948.00 13,330,948.00 7.125000 % 0.00
A-I- 7611OFDU4 24,973,716.00 24,973,716.00 7.600000 % 0.00
A-I- 7611OFDV2 0.00 0.00 8.000000 % 0.00
A-I- 7611OFDW0 1,000,000.00 1,000,000.00 7.700000 % 0.00
A-I- 7611OFDX8 9,539,699.00 9,539,699.00 7.700000 % 0.00
A-I- 7611OFDY6 22,526,000.00 22,526,000.00 8.000000 % 0.00
A-I- 7611OFDZ3 11,650,000.00 11,650,000.00 8.000000 % 0.00
A-I- 7611OFEA7 30,421,000.00 30,421,000.00 8.000000 % 0.00
A-I- 7611OFEB5 8,619,000.00 8,619,000.00 8.000000 % 0.00
A-II 7611OFEC3 20,104,000.00 20,104,000.00 8.000000 % 76,098.06
A-P 7611OFED1 601,147.92 601,147.92 0.000000 % 1,115.13
R-I 7611OFEE9 100.00 100.00 8.000000 % 100.00
R-II 7611OFEF6 100.00 100.00 8.000000 % 100.00
M-1 7611OFEG4 9,114,600.00 9,114,600.00 8.000000 % 7,109.65
M-2 7611OFEH2 5,126,400.00 5,126,400.00 8.000000 % 3,998.74
M-3 7611OFEJ8 3,645,500.00 3,645,500.00 8.000000 % 2,843.60
B-1 1,822,700.00 1,822,700.00 8.000000 % 1,421.76
B-2 569,600.00 569,600.00 8.000000 % 444.30
B-3 1,366,716.75 1,366,716.75 8.000000 % 1,066.08
SPRE 0.00 0.00 0.828589 % 0.00
- -------------------------------------------------------------------------------
227,839,864.67 227,839,864.67 868,354.42
===============================================================================
_______________________________________________________________________________
REMAINING
INTEREST TOTAL DEFERRED REALIZED PRINCIPAL
DISTRIBUTION DISTRIBUTION INTEREST LOSSES BALANCE
_______________________________________________________________________________
A-I-1 118,097.80 515,050.16 0.00 0.00 19,709,201.64
A-I-2 210,699.71 587,804.45 0.00 0.00 42,945,378.26
A-I-3 114,147.80 114,147.80 0.00 0.00 0.00
A-I-4 79,135.18 79,135.18 0.00 0.00 13,330,948.00
A-I-5 158,132.25 158,132.25 0.00 0.00 24,973,716.00
A-I-6 495.17 495.17 0.00 0.00 0.00
A-I-7 6,415.27 6,415.27 0.00 0.00 1,000,000.00
A-I-8 61,199.67 61,199.67 0.00 0.00 9,539,699.00
A-I-9 150,140.46 150,140.46 0.00 0.00 22,526,000.00
A-I-10 77,649.67 77,649.67 0.00 0.00 11,650,000.00
A-I-11 202,762.28 202,762.28 0.00 0.00 30,421,000.00
A-I-12 57,447.42 57,447.42 0.00 0.00 8,619,000.00
A-II 133,997.34 210,095.40 0.00 0.00 20,027,901.94
A-P 0.00 1,115.13 0.00 0.00 600,032.79
R-I 0.67 100.67 0.00 0.00 0.00
R-II 0.67 100.67 0.00 0.00 0.00
M-1 60,750.70 67,860.35 0.00 0.00 9,107,490.35
M-2 34,168.52 38,167.26 0.00 0.00 5,122,401.26
M-3 24,298.01 27,141.61 0.00 0.00 3,642,656.40
B-1 12,148.67 13,570.43 0.00 0.00 1,821,278.24
B-2 3,796.50 4,240.80 0.00 0.00 569,155.70
B-3 9,109.46 10,175.54 0.00 0.00 1,365,650.67
SPRED 157,286.87 157,286.87 0.00 0.00 0.00
- -------------------------------------------------------------------------------
1,671,880.09 2,540,234.51 0.00 0.00 226,971,510.25
===============================================================================
Run: 12/27/96 13:03:39
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- 1000.000000 19.742829 5.873714 25.616543 0.000000 980.257171
A-I- 1000.000000 8.704597 4.863519 13.568116 0.000000 991.295403
A-I- 1000.000000 0.000000 5.936200 5.936200 0.000000 1000.000000
A-I- 1000.000000 0.000000 6.331947 6.331947 0.000000 1000.000000
A-I- 1000.000000 0.000000 6.415270 6.415270 0.000000 1000.000000
A-I- 1000.000000 0.000000 6.415262 6.415262 0.000000 1000.000000
A-I- 1000.000000 0.000000 6.665207 6.665207 0.000000 1000.000000
A-I- 1000.000000 0.000000 6.665208 6.665208 0.000000 1000.000000
A-I- 1000.000000 0.000000 6.665208 6.665208 0.000000 1000.000000
A-I- 1000.000000 0.000000 6.665207 6.665207 0.000000 1000.000000
A-II 1000.000000 3.785220 6.665208 10.450428 0.000000 996.214780
A-P 1000.000000 1.855004 0.000000 1.855004 0.000000 998.144996
R-I 1000.000000 1000.00000 6.700000 1006.700000 0.000000 0.000000
R-II 1000.000000 1000.00000 6.700000 1006.700000 0.000000 0.000000
M-1 1000.000000 0.780029 6.665207 7.445236 0.000000 999.219971
M-2 1000.000000 0.780029 6.665208 7.445237 0.000000 999.219971
M-3 1000.000000 0.780030 6.665206 7.445236 0.000000 999.219970
B-1 1000.000000 0.780030 6.665205 7.445235 0.000000 999.219970
B-2 1000.000000 0.780021 6.665204 7.445225 0.000000 999.219979
B-3 1000.000000 0.780030 6.665214 7.445244 0.000000 999.219971
_______________________________________________________________________________
DETERMINATION DATE 20-December-96
DISTRIBUTION DATE 26-December-96
Run: 12/27/96 13:03:41 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 47,489.49
SERVICING COMPENSATION RECEIVED BY MASTER SERVICER 13,223.77
SUBSERVICER ADVANCES THIS MONTH 76,752.05
MASTER SERVICER ADVANCES THIS MONTH 0.00
NUMBER OF PRINCIPAL
DELINQUENCIES: LOANS BALANCE
(A) ONE MONTHLY PAYMENT: 93 9,519,383.15
(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 226,971,510.25
AGGREGATE NUMBER OF LOANS IN THE POOL AS OF THE
DETERMINATION DATE 2,106
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 690,406.50
TOTAL REPURCHASES INCLUDED IN THIS DISTRIBUTION 0.00
DISTRIBUTION PERCENTAGES:
SENIOR CLASS M CLASS B
CURRENT DISTRIBUTION 90.23583310 % 7.85047000 % 1.64985030 %
PREPAYMENT PERCENT 100.00000000 % 0.00000000 % 0.00000000 %
NEXT DISTRIBUTION 90.44551330 % 7.87435744 % 1.65925700 %
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 9.13674700
ENDING WEIGHTED AVERAGE MATURITY, IN MONTHS 336.71
POOL TRADING FACTOR: 99.61887512
................................................................................
