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)
July 25, 1997
RESIDENTIAL ACCREDIT LOANS, INC.
(Exact name of the registrant as specified in
its charter)
33-95932 51-0368240
Delaware (Commission File Number) (I.R.S. Employee
(State or other Identification No.)
jurisdiction of
incorporation)
8400 Normandale Lake Boulevard 55437
Minneapolis, Minnesota (Zip Code)
(Address of Principal
Executive Offices)
Registrant's telephone number, including area code
(612) 832-7000
Item 5. Other Events
See the respective monthly reports, each reflecting the
required information for the July 1997 distribution
to holders of the following series of Conduit Mortgage
Pass-Through Certificates.
Master Serviced by Residential Funding Corporation
1995-QS1 RALI
1996-QS1 RALI
1996-QS2 RALI
1996-QS3 RALI
1996-QS4 RALI
1996-QS6 RALI
1996-QS5 RALI
1996-QS7 RALI
1996-QS8 RALI
1997-QS1 RALI
1997-QS2 RALI
1997-QS3 RALI
1997-QS3 RALI
1997-QS4 RALI
1997-QS5 RALI
1997-QS6 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: July 25, 1997
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RESIDENTIAL FUNDING CORPORATION (MASTER SERVICER)
RESIDENTIAL ACCREDIT LOANS, INC. (COMPANY)
MORTGAGE PASS-THROUGH CERTIFICATES SERIES 1995-QS1 (POOL # 4180)
STATEMENT TO CERTIFICATEHOLDERS
DISTRIBUTION SUMMARY FOR POOL# 4180
_______________________________________________________________________________
PRINCIPAL CURRENT
ORIGINAL BALANCE BEFORE PASS-THROUGH PRINCIPAL
CLASS CUSIP FACE VALUE DISTRIBUTION RATE DISTRIBUTION
_______________________________________________________________________________
A-1 76110FAA1 54,500,000.00 0.00 6.600000 % 0.00
A-2 76110FAB9 82,500,000.00 67,538,303.69 6.900000 % 3,215,289.14
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
- -------------------------------------------------------------------------------
258,459,514.42 191,323,439.32 3,215,289.14
===============================================================================
_______________________________________________________________________________
REMAINING
INTEREST TOTAL DEFERRED REALIZED PRINCIPAL
DISTRIBUTION DISTRIBUTION INTEREST LOSSES BALANCE
_______________________________________________________________________________
A-1 0.00 0.00 0.00 0.00 0.00
A-2 388,345.25 3,603,634.39 0.00 0.00 64,323,014.55
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 279,027.18 279,027.18 0.00 0.00 2,326,135.63
- -------------------------------------------------------------------------------
1,422,782.85 4,638,071.99 0.00 0.00 188,108,150.18
===============================================================================
_______________________________________________________________________________
AMOUNTS PER $1,000 UNIT
_______________________________________________________________________________
BEGINNING ENDING
BALANCE PRINCIPAL INTEREST TOTAL DEFERRED BALANCE
CLASS FACTOR FACTOR FACTOR DISTRIBUTION INTEREST FACTOR
_______________________________________________________________________________
A-1 0.000000 0.000000 0.000000 0.000000 0.000000 0.000000
A-2 818.646105 38.973202 4.707215 43.680417 0.000000 779.672904
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 21-July-97
DISTRIBUTION DATE 25-July-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 39,243.73
SERVICING COMPENSATION RECEIVED BY MASTER SERVICER 645.33
SUBSERVICER ADVANCES THIS MONTH 74,183.63
MASTER SERVICER ADVANCES THIS MONTH 8,881.45
NUMBER OF PRINCIPAL
DELINQUENCIES: LOANS BALANCE
(A) ONE MONTHLY PAYMENT: 48 4,582,980.22
(B) TWO MONTHLY PAYMENTS: 10 1,269,815.85
(C) THREE OR MORE MONTHLY PAYMENTS: 1 348,830.77
FORECLOSURES
NUMBER OF LOANS 19
AGGREGATE PRINCIPAL BALANCE 2,638,833.58
SCHEDULED PRINCIPAL BALANCE OF MORTGAGE LOANS AFTER
DISTRIBUTION 188,108,150.18
AGGREGATE NUMBER OF LOANS IN THE POOL AS OF THE
DETERMINATION DATE 2,032
NUMBER OF REO LOANS ACQUIRED
INCLUDING ANY PENDING CASH LIQUIDATIONS 5
BOOK VALUE OF REAL ESTATE ACQUIRED THROUGH
FORECLOSURE OR GRANT OF A DEED IN LIEU OF
FORECLOSURE, INCLUDING ANY PENDING CASH LIQUIDATIONS 1,095,568.56
REMAINING SUBCLASS INTEREST SHORTFALL 0.00
CLASS A SHORTFALL (PRINCIPAL) 0.00
CLASS A SHORTFALL (INTEREST) 0.00
TOTAL PREPAYMENTS INCLUDED IN THIS DISTRIBUTION 3,027,987.55
TOTAL REPURCHASES INCLUDED IN THIS DISTRIBUTION 0.00
DISTRIBUTION PERCENTAGES:
SENIOR SUBORDINATE
PERCENTAGE FOR CURRENT DISTRIBUTION 98.78418680 % 1.21581320 %
CURRENT PREPAYMENT PERCENTAGE 100.00000000 % 0.00000000 %
PERCENTAGE FOR NEXT DISTRIBUTION 98.76340520 % 1.23659480 %
BANKRUPTCY AMOUNT AVAILABLE 0.00
FRAUD AMOUNT AVAILABLE 0.00
SPECIAL HAZARD AMOUNT AVAILABLE 0.00
ENDING GROSS WEIGHTED AVERAGE INTEREST RATE 9.33078758
ENDING WEIGHTED AVERAGE MATURITY, IN MONTHS 309.30
POOL TRADING FACTOR: 72.78050901
................................................................................
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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 0.00 6.000000 % 0.00
A-I- 76110FAH6 67,186,000.00 67,112,388.57 6.250000 % 3,397,836.98
A-I- 76110FAJ2 22,562,000.00 22,562,000.00 6.750000 % 0.00
A-I- 76110FAK9 31,852,000.00 31,852,000.00 6.900000 % 0.00
A-I- 76110FAL7 14,535,000.00 14,535,000.00 7.050000 % 0.00
A-I- 76110FAM5 18,417,136.00 18,417,136.00 7.250000 % 0.00
A-I- 76110FAN3 20,000,000.00 20,000,000.00 6.700000 % 0.00
A-II 76110FAQ6 29,374,968.00 17,035,437.65 6.090000 % 122,646.50
R 0.53 2,026,594.48 0.000000 % 0.00
- -------------------------------------------------------------------------------
255,942,104.53 193,540,556.70 3,520,483.48
===============================================================================
_______________________________________________________________________________
REMAINING
INTEREST TOTAL DEFERRED REALIZED PRINCIPAL
DISTRIBUTION DISTRIBUTION INTEREST LOSSES BALANCE
_______________________________________________________________________________
A-I-1 0.00 0.00 0.00 0.00 0.00
A-I-2 349,543.69 3,747,380.67 0.00 0.00 63,714,551.59
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 86,454.85 209,101.35 0.00 0.00 16,912,791.15
R 325,115.59 325,115.59 0.00 0.00 2,026,594.48
- -------------------------------------------------------------------------------
1,379,504.38 4,899,987.86 0.00 0.00 190,020,073.22
===============================================================================
_______________________________________________________________________________
AMOUNTS PER $1,000 UNIT
_______________________________________________________________________________
BEGINNING ENDING
BALANCE PRINCIPAL INTEREST TOTAL DEFERRED BALANCE
CLASS FACTOR FACTOR FACTOR DISTRIBUTION INTEREST FACTOR
_______________________________________________________________________________
A-I- 0.000000 0.000000 0.000000 0.000000 0.000000 0.000000
A-I- 998.904364 50.573586 5.202627 55.776213 0.000000 948.330777
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 579.930424 4.175205 2.943147 7.118352 0.000000 575.755220
_______________________________________________________________________________
DETERMINATION DATE 21-July-97
DISTRIBUTION DATE 25-July-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 41,402.71
SERVICING COMPENSATION RECEIVED BY MASTER SERVICER 0.00
SUBSERVICER ADVANCES THIS MONTH 68,557.83
MASTER SERVICER ADVANCES THIS MONTH 7,836.75
NUMBER OF PRINCIPAL
DELINQUENCIES: LOANS BALANCE
(A) ONE MONTHLY PAYMENT: 19 2,561,206.60
(B) TWO MONTHLY PAYMENTS: 9 1,036,414.78
(C) THREE OR MORE MONTHLY PAYMENTS: 3 756,022.07
FORECLOSURES
NUMBER OF LOANS 21
AGGREGATE PRINCIPAL BALANCE 4,361,748.85
SCHEDULED PRINCIPAL BALANCE OF MORTGAGE LOANS AFTER
DISTRIBUTION 190,020,073.22
AGGREGATE NUMBER OF LOANS IN THE POOL AS OF THE
DETERMINATION DATE 1,566
NUMBER OF REO LOANS ACQUIRED
INCLUDING ANY PENDING CASH LIQUIDATIONS 3
BOOK VALUE OF REAL ESTATE ACQUIRED THROUGH
FORECLOSURE OR GRANT OF A DEED IN LIEU OF
FORECLOSURE, INCLUDING ANY PENDING CASH LIQUIDATIONS 976,660.59
REMAINING SUBCLASS INTEREST SHORTFALL 0.00
CLASS A SHORTFALL (PRINCIPAL) 0.00
CLASS A SHORTFALL (INTEREST) 0.00
TOTAL PREPAYMENTS INCLUDED IN THIS DISTRIBUTION 3,348,293.86
TOTAL REPURCHASES INCLUDED IN THIS DISTRIBUTION 0.00
DISTRIBUTION PERCENTAGES:
SENIOR SUBORDINATE
PERCENTAGE FOR CURRENT DISTRIBUTION 98.95288380 % 1.04711620 %
CURRENT PREPAYMENT PERCENTAGE 100.00000000 % 0.00000000 %
PERCENTAGE FOR NEXT DISTRIBUTION 98.93348400 % 1.06651600 %
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 8.99458300
ENDING WEIGHTED AVERAGE MATURITY, IN MONTHS 319.32
POOL TRADING FACTOR: 74.24338155
................................................................................
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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 15,262,154.55 6.400000 % 2,387,388.49
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 178,007.00 173,901.41 0.000000 % 213.78
R 0.00 1,819,114.18 0.000000 % 0.00
- -------------------------------------------------------------------------------
181,911,418.00 158,988,581.14 2,387,602.27
===============================================================================
_______________________________________________________________________________
REMAINING
INTEREST TOTAL DEFERRED REALIZED PRINCIPAL
DISTRIBUTION DISTRIBUTION INTEREST LOSSES BALANCE
_______________________________________________________________________________
A-1 81,398.16 2,468,786.65 0.00 0.00 12,874,766.06
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 0.00 213.78 0.00 0.00 173,687.63
R 171,952.02 171,952.02 0.00 0.00 1,819,114.18
- -------------------------------------------------------------------------------
1,108,621.49 3,496,223.76 0.00 0.00 156,600,978.87
===============================================================================
_______________________________________________________________________________
AMOUNTS PER $1,000 UNIT
_______________________________________________________________________________
BEGINNING ENDING
BALANCE PRINCIPAL INTEREST TOTAL DEFERRED BALANCE
CLASS FACTOR FACTOR FACTOR DISTRIBUTION INTEREST FACTOR
_______________________________________________________________________________
A-1 381.553864 59.684712 2.034954 61.719666 0.000000 321.869152
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-10 976.935795 1.200964 0.000000 1.200964 0.000000 975.734831
_______________________________________________________________________________
DETERMINATION DATE 21-July-97
DISTRIBUTION DATE 25-July-97
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RESIDENTIAL FUNDING CORPORATION (MASTER SERVICER)
RESIDENTIAL ACCREDIT LOANS, INC. (COMPANY)
MORTGAGE PASS-THROUGH CERTIFICATES 1996-QS2 (POOL # 4201)
STATEMENT TO CERTIFICATEHOLDERS
ADDITIONAL RELATED INFORMATION FOR POOL 4201
_______________________________________________________________________________
SERVICING COMPENSATION RECEIVED BY SUB-SERVICER 33,073.71
SERVICING COMPENSATION RECEIVED BY MASTER SERVICER 4,514.37
SUBSERVICER ADVANCES THIS MONTH 46,618.92
MASTER SERVICER ADVANCES THIS MONTH 1,338.30
NUMBER OF PRINCIPAL
DELINQUENCIES: LOANS BALANCE
(A) ONE MONTHLY PAYMENT: 27 2,675,988.38
(B) TWO MONTHLY PAYMENTS: 3 296,653.56
(C) THREE OR MORE MONTHLY PAYMENTS: 4 1,002,100.89
FORECLOSURES
NUMBER OF LOANS 9
AGGREGATE PRINCIPAL BALANCE 2,118,386.32
SCHEDULED PRINCIPAL BALANCE OF MORTGAGE LOANS AFTER
DISTRIBUTION 156,600,978.87
AGGREGATE NUMBER OF LOANS IN THE POOL AS OF THE
DETERMINATION DATE 1,472
NUMBER OF REO LOANS ACQUIRED
INCLUDING ANY PENDING CASH LIQUIDATIONS 3
BOOK VALUE OF REAL ESTATE ACQUIRED THROUGH
FORECLOSURE OR GRANT OF A DEED IN LIEU OF
FORECLOSURE, INCLUDING ANY PENDING CASH LIQUIDATIONS 169,630.81
REMAINING SUBCLASS INTEREST SHORTFALL 0.00
CLASS A SHORTFALL (PRINCIPAL) 0.00
CLASS A SHORTFALL (INTEREST) 0.00
TOTAL PREPAYMENTS INCLUDED IN THIS DISTRIBUTION 2,108,938.22
TOTAL REPURCHASES INCLUDED IN THIS DISTRIBUTION 138,532.41
DISTRIBUTION PERCENTAGES:
SENIOR SUBORDINATE
PERCENTAGE FOR CURRENT DISTRIBUTION 98.85582090 % 1.14417910 %
CURRENT PREPAYMENT PERCENTAGE 100.00000000 % 0.00000000 %
PERCENTAGE FOR NEXT DISTRIBUTION 98.83837620 % 1.16162380 %
BANKRUPTCY AMOUNT AVAILABLE 0.00
FRAUD AMOUNT AVAILABLE 0.00
SPECIAL HAZARD AMOUNT AVAILABLE 0.00
ENDING GROSS WEIGHTED AVERAGE INTEREST RATE 8.78220707
ENDING WEIGHTED AVERAGE MATURITY, IN MONTHS 324.75
POOL TRADING FACTOR: 86.08639336
................................................................................
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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 19,525,434.28 6.780000 % 1,131,118.45
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 21,733,697.47 7.250000 % 158,364.50
A-I- 76110FBG7 18,587,000.00 18,587,000.00 7.460000 % 0.00
A-I- 76110FBH5 21,696,000.00 21,696,000.00 7.750000 % 0.00
A-I- 76110FBJ1 8,047,000.00 8,047,000.00 7.750000 % 0.00
A-I- 76110FBK8 17,436,000.00 17,436,000.00 7.750000 % 0.00
A-I- 76110FBL6 25,145,000.00 25,145,000.00 7.750000 % 0.00
A-I- 76110FBM4 19,000,000.00 19,000,000.00 7.750000 % 0.00
A-I- 76110FBN2 15,875,562.00 15,875,562.00 7.750000 % 0.00
A-II 76110FBP7 20,551,438.00 18,491,873.80 7.750000 % 223,373.82
A-P 76110FBQ5 1,166,695.86 1,104,618.65 0.000000 % 10,393.49
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 12,392,898.78 7.750000 % 10,870.25
M-2 76110FBU6 5,568,000.00 5,507,735.19 7.750000 % 4,831.03
M-3 76110FBV4 4,176,000.00 4,130,801.40 7.750000 % 3,623.27
B-1 1,809,600.00 1,790,013.94 7.750000 % 1,570.08
B-2 696,000.00 688,466.90 7.750000 % 603.88
B-3 1,670,738.96 1,652,655.81 7.750000 % 1,449.60
SPRE 0.00 0.00 0.728383 % 0.00
A-V 7611OFHY2 0.00 0.00 0.000000 % 0.00
- -------------------------------------------------------------------------------
278,404,734.82 249,400,758.22 1,546,198.37
===============================================================================
_______________________________________________________________________________
REMAINING
INTEREST TOTAL DEFERRED REALIZED PRINCIPAL
DISTRIBUTION DISTRIBUTION INTEREST LOSSES BALANCE
_______________________________________________________________________________
A-I-1 110,288.44 1,241,406.89 0.00 0.00 18,394,315.83
A-I-2 154,874.17 154,874.17 0.00 0.00 26,000,000.00
A-I-3 64,353.04 64,353.04 0.00 0.00 10,596,000.00
A-I-4 131,271.74 289,636.24 0.00 0.00 21,575,332.97
A-I-5 115,517.48 115,517.48 0.00 0.00 18,587,000.00
A-I-6 140,081.56 140,081.56 0.00 0.00 21,696,000.00
A-I-7 51,955.95 51,955.95 0.00 0.00 8,047,000.00
A-I-8 112,576.61 112,576.61 0.00 0.00 17,436,000.00
A-I-9 162,350.24 162,350.24 0.00 0.00 25,145,000.00
A-I-10 122,674.67 122,674.67 0.00 0.00 19,000,000.00
A-I-11 102,501.54 102,501.54 0.00 0.00 15,875,562.00
A-II 119,393.92 342,767.74 0.00 0.00 18,268,499.98
A-P 0.00 10,393.49 0.00 0.00 1,094,225.16
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 80,015.51 90,885.76 0.00 0.00 12,382,028.53
M-2 35,561.03 40,392.06 0.00 0.00 5,502,904.16
M-3 26,670.77 30,294.04 0.00 0.00 4,127,178.13
B-1 11,557.34 13,127.42 0.00 0.00 1,788,443.86
B-2 4,445.13 5,049.01 0.00 0.00 687,863.02
B-3 10,670.47 12,120.07 0.00 0.00 1,651,206.21
SPRED 151,341.21 151,341.21 0.00 0.00 0.00
A-V 46,379.69 46,379.69 0.00 0.00 0.00
- -------------------------------------------------------------------------------
1,754,480.51 3,300,678.88 0.00 0.00 247,854,559.85
===============================================================================
Run: 07/23/97 15:35:42
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- 455.616247 26.394084 2.573526 28.967610 0.000000 429.222164
A-I- 1000.000000 0.000000 5.956699 5.956699 0.000000 1000.000000
A-I- 1000.000000 0.000000 6.073333 6.073333 0.000000 1000.000000
A-I- 869.347899 6.334580 5.250870 11.585450 0.000000 863.013319
A-I- 1000.000000 0.000000 6.214961 6.214961 0.000000 1000.000000
A-I- 1000.000000 0.000000 6.456562 6.456562 0.000000 1000.000000
A-I- 1000.000000 0.000000 6.456561 6.456561 0.000000 1000.000000
A-I- 1000.000000 0.000000 6.456562 6.456562 0.000000 1000.000000
A-I- 1000.000000 0.000000 6.456562 6.456562 0.000000 1000.000000
A-I- 1000.000000 0.000000 6.456562 6.456562 0.000000 1000.000000
A-I- 1000.000000 0.000000 6.456561 6.456561 0.000000 1000.000000
A-II 899.784910 10.869012 5.809517 16.678529 0.000000 888.915899
A-P 946.792294 8.908481 0.000000 8.908481 0.000000 937.883814
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-1 989.176580 0.867642 6.386679 7.254321 0.000000 988.308938
M-2 989.176579 0.867642 6.386679 7.254321 0.000000 988.308937
M-3 989.176580 0.867641 6.386679 7.254320 0.000000 988.308939
B-1 989.176580 0.867639 6.386682 7.254321 0.000000 988.308941
B-2 989.176580 0.867644 6.386681 7.254325 0.000000 988.308937
B-3 989.176556 0.867640 6.386677 7.254317 0.000000 988.308914
_______________________________________________________________________________
DETERMINATION DATE 21-July-97
DISTRIBUTION DATE 25-July-97
Run: 07/23/97 15:35:43 rept2.frg
Page: 3 of 3
RESIDENTIAL FUNDING CORPORATION (MASTER SERVICER)
RESIDENTIAL ACCREDIT LOANS, INC. (COMPANY)
MORTGAGE ASSET-BACKED PASS-THROUGH CERTIFICATES 1996-QS3 (POOL # 4211)
STATEMENT TO CERTIFICATEHOLDERS
ADDITIONAL RELATED INFORMATION FOR POOL 4211
_______________________________________________________________________________
SERVICING COMPENSATION RECEIVED BY SUB-SERVICER 52,274.08
SERVICING COMPENSATION RECEIVED BY MASTER SERVICER 13,088.05
SUBSERVICER ADVANCES THIS MONTH 43,050.17
MASTER SERVICER ADVANCES THIS MONTH 0.00
NUMBER OF PRINCIPAL
DELINQUENCIES: LOANS BALANCE
(A) ONE MONTHLY PAYMENT: 21 2,877,199.83
(B) TWO MONTHLY PAYMENTS: 6 474,649.28
(C) THREE OR MORE MONTHLY PAYMENTS: 2 305,710.64
FORECLOSURES
NUMBER OF LOANS 11
AGGREGATE PRINCIPAL BALANCE 1,773,533.28
SCHEDULED PRINCIPAL BALANCE OF MORTGAGE LOANS AFTER
DISTRIBUTION 247,854,559.85
AGGREGATE NUMBER OF LOANS IN THE POOL AS OF THE
DETERMINATION DATE 2,224
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 1,325,176.17
TOTAL REPURCHASES INCLUDED IN THIS DISTRIBUTION 0.00
DISTRIBUTION PERCENTAGES:
SENIOR CLASS M CLASS B
CURRENT DISTRIBUTION 89.06691750 % 8.83374800 % 1.65642510 %
PREPAYMENT PERCENT 89.51977360 % 0.00000000 % 10.48022640 %
NEXT DISTRIBUTION 89.40687780 % 8.88105945 % 1.67268090 %
BANKRUPTCY AMOUNT AVAILABLE 164,142.00
FRAUD AMOUNT AVAILABLE 2,495,950.00
SPECIAL HAZARD AMOUNT AVAILABLE 2,495,950.00
ENDING GROSS WEIGHTED AVERAGE INTEREST RATE 8.77649100
ENDING WEIGHTED AVERAGE MATURITY, IN MONTHS 325.66
POOL TRADING FACTOR: 89.02670424
................................................................................
Run: 07/23/97 15:35:43 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 26,834,144.05 6.850000 % 1,843,798.58
A-I- 76110FBX0 26,945,000.00 19,949,108.23 11.000000 % 676,054.12
A-I- 76110FBY8 15,646,000.00 15,646,000.00 7.300000 % 0.00
A-I- 76110FBZ5 32,740,000.00 32,740,000.00 7.500000 % 0.00
A-I- 76110FCA9 10,023,000.00 10,023,000.00 7.700000 % 0.00
A-I- 76110FCB7 26,811,000.00 26,811,000.00 8.000000 % 0.00
A-I- 76110FCC5 18,046,000.00 18,046,000.00 8.000000 % 0.00
A-I- 76110FCD3 9,094,000.00 9,094,000.00 8.000000 % 0.00
A-I- 76110FCE1 10,284,000.00 10,284,000.00 8.000000 % 0.00
A-I- 76110FCF8 27,538,000.00 27,538,000.00 7.900000 % 0.00
A-II 76110FCG6 16,021,000.00 14,024,646.78 7.250000 % 138,946.98
A-II 76110FCH4 8,580,000.00 8,580,000.00 7.650000 % 0.00
A-P 76110FCJ0 3,039,637.99 2,822,752.71 0.000000 % 17,113.02
A-V 76110FGN7 0.00 0.00 0.771642 % 0.00
R-I 76110FCK7 100.00 0.00 8.000000 % 0.00
R-II 76110FCL5 100.00 0.00 8.000000 % 0.00
M-1 76110FCM3 13,230,500.00 13,107,821.93 8.000000 % 12,712.84
M-2 76110FCN1 5,570,800.00 5,519,145.47 8.000000 % 5,352.84
M-3 76110FCP6 4,456,600.00 4,415,276.76 8.000000 % 4,282.23
B-1 76110FCR2 2,228,400.00 2,207,737.46 8.000000 % 2,141.21
B-2 76110FCS0 696,400.00 689,942.72 8.000000 % 669.15
B-3 76110FCT8 1,671,255.97 1,655,759.46 8.000000 % 1,605.76
STRI 0.00 0.00 0.113409 % 0.00
- -------------------------------------------------------------------------------
278,535,793.96 249,988,335.57 2,702,676.73
===============================================================================
_______________________________________________________________________________
REMAINING
INTEREST TOTAL DEFERRED REALIZED PRINCIPAL
DISTRIBUTION DISTRIBUTION INTEREST LOSSES BALANCE
_______________________________________________________________________________
A-I-1 153,073.07 1,996,871.65 0.00 0.00 24,990,345.47
A-I-2 182,741.28 858,795.40 0.00 0.00 19,273,054.11
A-I-3 95,114.48 95,114.48 0.00 0.00 15,646,000.00
A-I-4 204,484.51 204,484.51 0.00 0.00 32,740,000.00
A-I-5 64,270.09 64,270.09 0.00 0.00 10,023,000.00
A-I-6 178,617.28 178,617.28 0.00 0.00 26,811,000.00
A-I-7 120,224.07 120,224.07 0.00 0.00 18,046,000.00
A-I-8 60,585.04 60,585.04 0.00 0.00 9,094,000.00
A-I-9 68,512.93 68,512.93 0.00 0.00 10,284,000.00
A-I-10 181,167.36 181,167.36 0.00 0.00 27,538,000.00
A-II-1 84,674.06 223,621.04 0.00 0.00 13,885,699.80
A-II-2 54,659.95 54,659.95 0.00 0.00 8,580,000.00
A-P 0.00 17,113.02 0.00 0.00 2,805,639.69
A-V 160,640.90 160,640.90 0.00 0.00 0.00
R-I 0.00 0.00 0.00 0.00 0.00
R-II 0.00 0.00 0.00 0.00 0.00
M-1 87,325.48 100,038.32 0.00 0.00 13,095,109.09
M-2 36,769.04 42,121.88 0.00 0.00 5,513,792.63
M-3 29,414.97 33,697.20 0.00 0.00 4,410,994.53
B-1 14,708.14 16,849.35 0.00 0.00 2,205,596.25
B-2 4,596.46 5,265.61 0.00 0.00 689,273.57
B-3 11,030.82 12,636.58 0.00 0.00 1,654,153.59
STRIP 14,670.19 14,670.19 0.00 0.00 0.00
- -------------------------------------------------------------------------------
1,807,280.12 4,509,956.85 0.00 0.00 247,285,658.73
===============================================================================
Run: 07/23/97 15:35:43
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- 584.443613 40.157655 3.333908 43.491563 0.000000 544.285958
A-I- 740.364009 25.090151 6.782011 31.872162 0.000000 715.273858
A-I- 1000.000000 0.000000 6.079156 6.079156 0.000000 1000.000000
A-I- 1000.000000 0.000000 6.245709 6.245709 0.000000 1000.000000
A-I- 1000.000000 0.000000 6.412261 6.412261 0.000000 1000.000000
A-I- 1000.000000 0.000000 6.662089 6.662089 0.000000 1000.000000
A-I- 1000.000000 0.000000 6.662090 6.662090 0.000000 1000.000000
A-I- 1000.000000 0.000000 6.662089 6.662089 0.000000 1000.000000
A-I- 1000.000000 0.000000 6.662090 6.662090 0.000000 1000.000000
A-I- 1000.000000 0.000000 6.578813 6.578813 0.000000 1000.000000
A-II 875.391472 8.672803 5.285192 13.957995 0.000000 866.718669
A-II 1000.000000 0.000000 6.370624 6.370624 0.000000 1000.000000
A-P 928.647661 5.629952 0.000000 5.629952 0.000000 923.017709
R-I 0.000000 0.000000 0.000000 0.000000 0.000000 0.000000
R-II 0.000000 0.000000 0.000000 0.000000 0.000000 0.000000
M-1 990.727632 0.960874 6.600316 7.561190 0.000000 989.766758
M-2 990.727628 0.960875 6.600316 7.561191 0.000000 989.766753
M-3 990.727631 0.960874 6.600316 7.561190 0.000000 989.766757
B-1 990.727634 0.960873 6.600314 7.561187 0.000000 989.766761
B-2 990.727628 0.960870 6.600316 7.561186 0.000000 989.766758
B-3 990.727626 0.960810 6.600317 7.561127 0.000000 989.766748
_______________________________________________________________________________
DETERMINATION DATE 21-July-97
DISTRIBUTION DATE 25-July-97
Run: 07/23/97 15:35:44 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 51,805.76
SERVICING COMPENSATION RECEIVED BY MASTER SERVICER 7,579.23
SUBSERVICER ADVANCES THIS MONTH 59,025.74
MASTER SERVICER ADVANCES THIS MONTH 4,485.05
NUMBER OF PRINCIPAL
DELINQUENCIES: LOANS BALANCE
(A) ONE MONTHLY PAYMENT: 38 4,142,909.53
(B) TWO MONTHLY PAYMENTS: 10 1,664,300.32
(C) THREE OR MORE MONTHLY PAYMENTS: 0 0.00
FORECLOSURES
NUMBER OF LOANS 10
AGGREGATE PRINCIPAL BALANCE 1,422,793.47
SCHEDULED PRINCIPAL BALANCE OF MORTGAGE LOANS AFTER
DISTRIBUTION 247,285,658.73
AGGREGATE NUMBER OF LOANS IN THE POOL AS OF THE
DETERMINATION DATE 2,419
NUMBER OF REO LOANS ACQUIRED
INCLUDING ANY PENDING CASH LIQUIDATIONS 5
BOOK VALUE OF REAL ESTATE ACQUIRED THROUGH
FORECLOSURE OR GRANT OF A DEED IN LIEU OF
FORECLOSURE, INCLUDING ANY PENDING CASH LIQUIDATIONS 562,827.80
REMAINING SUBCLASS INTEREST SHORTFALL 0.00
CLASS A SHORTFALL (PRINCIPAL) 0.00
CLASS A SHORTFALL (INTEREST) 0.00
TOTAL PREPAYMENTS INCLUDED IN THIS DISTRIBUTION 2,455,828.05
TOTAL REPURCHASES INCLUDED IN THIS DISTRIBUTION 0.00
DISTRIBUTION PERCENTAGES:
SENIOR CLASS M CLASS B
CURRENT DISTRIBUTION 87.83205770 % 9.21732800 % 1.82146080 %
PREPAYMENT PERCENT 100.00000000 % 0.00000000 % 0.00000000 %
NEXT DISTRIBUTION 88.72344670 % 9.30903004 % 1.86069330 %
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 9.00766900
ENDING WEIGHTED AVERAGE MATURITY, IN MONTHS 317.36
POOL TRADING FACTOR: 88.78056756
................................................................................
Run: 07/23/97 15:34:57 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 138,145,180.00 110,148,834.50 6.047500 % 4,234,152.67
R 973,833.13 2,588,883.70 0.000000 % 0.00
- -------------------------------------------------------------------------------
139,119,013.13 112,737,718.20 4,234,152.67
===============================================================================
_______________________________________________________________________________
REMAINING
INTEREST TOTAL DEFERRED REALIZED PRINCIPAL
DISTRIBUTION DISTRIBUTION INTEREST LOSSES BALANCE
_______________________________________________________________________________
A 550,613.13 4,784,765.80 0.00 0.00 105,914,681.83
R 0.00 0.00 155,307.69 0.00 2,744,191.39
- -------------------------------------------------------------------------------
550,613.13 4,784,765.80 155,307.69 0.00 108,658,873.22
===============================================================================
_______________________________________________________________________________
AMOUNTS PER $1,000 UNIT
_______________________________________________________________________________
BEGINNING ENDING
BALANCE PRINCIPAL INTEREST TOTAL DEFERRED BALANCE
CLASS FACTOR FACTOR FACTOR DISTRIBUTION INTEREST FACTOR
_______________________________________________________________________________
A 797.341134 30.650021 3.985757 34.635778 0.000000 766.691113
R 2658.446935 0.000000 0.000000 0.000000 159.480803 2817.927740
_______________________________________________________________________________
DETERMINATION DATE 21-July-97
DISTRIBUTION DATE 25-July-97
Run: 07/23/97 15:34:57 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 33,729.85
SERVICING COMPENSATION RECEIVED BY MASTER SERVICER 0.00
SUBSERVICER ADVANCES THIS MONTH 30,966.73
MASTER SERVICER ADVANCES THIS MONTH 0.00
NUMBER OF PRINCIPAL
DELINQUENCIES: LOANS BALANCE
(A) ONE MONTHLY PAYMENT: 14 1,760,780.09
(B) TWO MONTHLY PAYMENTS: 4 1,304,303.52
(C) THREE OR MORE MONTHLY PAYMENTS: 1 118,531.12
FORECLOSURES
NUMBER OF LOANS 6
AGGREGATE PRINCIPAL BALANCE 797,520.44
SCHEDULED PRINCIPAL BALANCE OF MORTGAGE LOANS AFTER
DISTRIBUTION 108,658,873.22
AGGREGATE NUMBER OF LOANS IN THE POOL AS OF THE
DETERMINATION DATE 1,082
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 3,917,073.71
TOTAL REPURCHASES INCLUDED IN THIS DISTRIBUTION 0.00
DISTRIBUTION PERCENTAGES:
SENIOR SUBORDINATE
PERCENTAGE FOR CURRENT DISTRIBUTION 97.70362240 % 2.29637760 %
CURRENT PREPAYMENT PERCENTAGE 100.00000000 % 0.00000000 %
PERCENTAGE FOR NEXT DISTRIBUTION 97.47448940 % 2.52551060 %
BANKRUPTCY AMOUNT AVAILABLE 100,000.00
FRAUD AMOUNT AVAILABLE 4,173,570.00
SPECIAL HAZARD AMOUNT AVAILABLE 1,881,824.00
ENDING GROSS WEIGHTED AVERAGE INTEREST RATE 8.14615202
ENDING WEIGHTED AVERAGE MATURITY, IN MONTHS 289.45
POOL TRADING FACTOR: 78.10497701
................................................................................
Run: 07/23/97 15:35:46 REPT1B.FRG
Page: 1 of 3
RESIDENTIAL FUNDING CORPORATION (MASTER SERVICER)
RESIDENTIAL ACCREDIT LOANS, INC. (COMPANY)
MORTGAGE ASSET-BACKED PASS-THROUGH CERTIFICATES SERIES 1996-QS5 (POOL # 4222)
STATEMENT TO CERTIFICATEHOLDERS
DISTRIBUTION SUMMARY FOR POOL# 4222
_______________________________________________________________________________
PRINCIPAL CURRENT
ORIGINAL BALANCE BEFORE PASS-THROUGH PRINCIPAL
CLASS CUSIP FACE VALUE DISTRIBUTION RATE DISTRIBUTION
_______________________________________________________________________________
A-I- 76110FCU5 23,848,000.00 17,502,922.62 9.500000 % 590,570.45
A-I- 76110FCV3 25,000,000.00 21,220,657.56 7.600000 % 351,763.71
A-I- 76110FCW1 12,373,000.00 6,442,523.92 6.650000 % 551,981.28
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 9,681,757.82 8.000000 % 224,516.40
A-II 76110FDF7 4,525,000.00 4,525,000.00 8.000000 % 0.00
A-P 76110FDG5 1,105,878.69 1,076,021.07 0.000000 % 1,294.29
A-V 76110FGP2 0.00 0.00 0.881624 % 0.00
R 76110FDH3 100.00 0.00 8.000000 % 0.00
M-1 76110FDJ9 7,918,500.00 7,861,543.59 8.000000 % 6,816.22
M-2 76110FDK6 3,958,800.00 3,930,325.05 8.000000 % 3,407.72
M-3 76110FDL4 2,815,100.00 2,794,851.48 8.000000 % 2,423.23
B-1 76110FDM2 1,407,600.00 1,397,475.38 8.000000 % 1,211.66
B-2 76110FDN0 439,800.00 436,636.60 8.000000 % 378.58
B-3 76110FDP5 1,055,748.52 1,048,154.66 8.000000 % 908.78
- -------------------------------------------------------------------------------
175,944,527.21 158,252,869.75 1,735,272.32
===============================================================================
_______________________________________________________________________________
REMAINING
INTEREST TOTAL DEFERRED REALIZED PRINCIPAL
DISTRIBUTION DISTRIBUTION INTEREST LOSSES BALANCE
_______________________________________________________________________________
A-I-1 138,414.71 728,985.16 0.00 0.00 16,912,352.17
A-I-2 134,251.92 486,015.63 0.00 0.00 20,868,893.85
A-I-3 35,663.65 587,644.93 0.00 0.00 5,890,542.64
A-I-4 44,031.42 44,031.42 0.00 0.00 7,100,000.00
A-I-5 64,131.46 64,131.46 0.00 0.00 10,137,000.00
A-I-6 36,087.87 36,087.87 0.00 0.00 5,558,000.00
A-I-7 112,717.77 112,717.77 0.00 0.00 16,926,000.00
A-I-8 45,843.62 45,843.62 0.00 0.00 6,884,000.00
A-I-9 74,778.91 74,778.91 0.00 0.00 11,229,000.00
A-I-10 149,844.18 149,844.18 0.00 0.00 22,501,000.00
A-II-1 64,475.14 288,991.54 0.00 0.00 9,457,241.42
A-II-2 30,133.99 30,133.99 0.00 0.00 4,525,000.00
A-P 0.00 1,294.29 0.00 0.00 1,074,726.78
A-V 116,140.37 116,140.37 0.00 0.00 0.00
R 0.00 0.00 0.00 0.00 0.00
M-1 52,353.52 59,169.74 0.00 0.00 7,854,727.37
M-2 26,173.79 29,581.51 0.00 0.00 3,926,917.33
M-3 18,612.16 21,035.39 0.00 0.00 2,792,428.25
B-1 9,306.41 10,518.07 0.00 0.00 1,396,263.72
B-2 2,907.76 3,286.34 0.00 0.00 436,258.02
B-3 6,980.13 7,888.91 0.00 0.00 1,047,245.87
- -------------------------------------------------------------------------------
1,162,848.78 2,898,121.10 0.00 0.00 156,517,597.42
===============================================================================
Run: 07/23/97 15:35:46
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- 733.936708 24.763940 5.804038 30.567978 0.000000 709.172768
A-I- 848.826302 14.070548 5.370077 19.440625 0.000000 834.755754
A-I- 520.692146 44.611758 2.882377 47.494135 0.000000 476.080388
A-I- 1000.000000 0.000000 6.201608 6.201608 0.000000 1000.000000
A-I- 1000.000000 0.000000 6.326473 6.326473 0.000000 1000.000000
A-I- 1000.000000 0.000000 6.492960 6.492960 0.000000 1000.000000
A-I- 1000.000000 0.000000 6.659445 6.659445 0.000000 1000.000000
A-I- 1000.000000 0.000000 6.659445 6.659445 0.000000 1000.000000
A-I- 1000.000000 0.000000 6.659445 6.659445 0.000000 1000.000000
A-I- 1000.000000 0.000000 6.659445 6.659445 0.000000 1000.000000
A-II 867.385578 20.114352 5.776307 25.890659 0.000000 847.271226
A-II 1000.000000 0.000000 6.659445 6.659445 0.000000 1000.000000
A-P 973.000999 1.170370 0.000000 1.170370 0.000000 971.830629
R 0.000000 0.000000 0.000000 0.000000 0.000000 0.000000
M-1 992.807172 0.860797 6.611545 7.472342 0.000000 991.946375
M-2 992.807176 0.860796 6.611546 7.472342 0.000000 991.946380
M-3 992.807176 0.860797 6.611545 7.472342 0.000000 991.946379
B-1 992.807175 0.860799 6.611544 7.472343 0.000000 991.946377
B-2 992.807185 0.860800 6.611551 7.472351 0.000000 991.946385
B-3 992.807132 0.860792 6.611546 7.472338 0.000000 991.946328
_______________________________________________________________________________
DETERMINATION DATE 21-July-97
DISTRIBUTION DATE 25-July-97
Run: 07/23/97 15:35:47 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 32,778.88
SERVICING COMPENSATION RECEIVED BY MASTER SERVICER 5,939.90
SUBSERVICER ADVANCES THIS MONTH 46,737.38
MASTER SERVICER ADVANCES THIS MONTH 336.65
NUMBER OF PRINCIPAL
DELINQUENCIES: LOANS BALANCE
(A) ONE MONTHLY PAYMENT: 29 4,054,789.56
(B) TWO MONTHLY PAYMENTS: 6 936,238.05
(C) THREE OR MORE MONTHLY PAYMENTS: 1 72,554.78
FORECLOSURES
NUMBER OF LOANS 5
AGGREGATE PRINCIPAL BALANCE 638,397.47
SCHEDULED PRINCIPAL BALANCE OF MORTGAGE LOANS AFTER
DISTRIBUTION 156,517,597.42
AGGREGATE NUMBER OF LOANS IN THE POOL AS OF THE
DETERMINATION DATE 1,507
NUMBER OF REO LOANS ACQUIRED
INCLUDING ANY PENDING CASH LIQUIDATIONS 1
BOOK VALUE OF REAL ESTATE ACQUIRED THROUGH
FORECLOSURE OR GRANT OF A DEED IN LIEU OF
FORECLOSURE, INCLUDING ANY PENDING CASH LIQUIDATIONS 39,510.93
REMAINING SUBCLASS INTEREST SHORTFALL 0.00
CLASS A SHORTFALL (PRINCIPAL) 0.00
CLASS A SHORTFALL (INTEREST) 0.00
TOTAL PREPAYMENTS INCLUDED IN THIS DISTRIBUTION 1,596,374.42
TOTAL REPURCHASES INCLUDED IN THIS DISTRIBUTION 0.00
DISTRIBUTION PERCENTAGES:
SENIOR CLASS M CLASS B
CURRENT DISTRIBUTION 88.28140820 % 9.21735000 % 1.82130450 %
PREPAYMENT PERCENT 100.00000000 % 0.00000000 % 0.00000000 %
NEXT DISTRIBUTION 88.77154000 % 9.31145966 % 1.85262120 %
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 9.15365600
ENDING WEIGHTED AVERAGE MATURITY, IN MONTHS 324.10
POOL TRADING FACTOR: 88.95849158
................................................................................
Run: 07/23/97 15:35:48 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 11,346,254.58 7.050000 % 640,563.61
A-I- 76110FDR1 43,322,483.00 35,000,578.68 6.087500 % 608,535.42
A-I- 76110FDS9 0.00 0.00 2.912500 % 0.00
A-I- 76110FDT7 13,330,948.00 13,330,948.00 7.125000 % 0.00
A-I- 76110FDU4 24,973,716.00 24,973,716.00 7.600000 % 0.00
A-I- 76110FDV2 0.00 0.00 8.000000 % 0.00
A-I- 76110FDW0 1,000,000.00 1,000,000.00 7.700000 % 0.00
A-I- 76110FDX8 9,539,699.00 9,539,699.00 7.700000 % 0.00
A-I- 76110FDY6 22,526,000.00 22,526,000.00 8.000000 % 0.00
A-I- 76110FDZ3 11,650,000.00 11,650,000.00 8.000000 % 0.00
A-I- 76110FEA7 30,421,000.00 30,421,000.00 8.000000 % 0.00
A-I- 76110FEB5 8,619,000.00 8,619,000.00 8.000000 % 0.00
A-II 76110FEC3 20,104,000.00 18,902,696.25 8.000000 % 136,946.62
A-P 76110FED1 601,147.92 529,748.23 0.000000 % 2,568.16
A-V 76110FGQ0 0.00 0.00 0.818916 % 0.00
R-I 76110FEE9 100.00 0.00 8.000000 % 0.00
R-II 76110FEF6 100.00 0.00 8.000000 % 0.00
M-1 76110FEG4 9,114,600.00 9,063,149.12 8.000000 % 7,754.59
M-2 76110FEH2 5,126,400.00 5,097,462.06 8.000000 % 4,361.48
M-3 76110FEJ8 3,645,500.00 3,624,921.55 8.000000 % 3,101.55
B-1 1,822,700.00 1,812,411.06 8.000000 % 1,550.73
B-2 569,600.00 566,384.68 8.000000 % 484.61
B-3 1,366,716.75 1,359,001.79 8.000000 % 1,162.65
- -------------------------------------------------------------------------------
227,839,864.67 209,362,971.00 1,407,029.42
===============================================================================
_______________________________________________________________________________
REMAINING
INTEREST TOTAL DEFERRED REALIZED PRINCIPAL
DISTRIBUTION DISTRIBUTION INTEREST LOSSES BALANCE
_______________________________________________________________________________
A-I-1 66,639.77 707,203.38 0.00 0.00 10,705,690.97
A-I-2 177,503.13 786,038.55 0.00 0.00 34,392,043.26
A-I-3 84,924.50 84,924.50 0.00 0.00 0.00
A-I-4 79,129.37 79,129.37 0.00 0.00 13,330,948.00
A-I-5 158,120.65 158,120.65 0.00 0.00 24,973,716.00
A-I-6 495.14 495.14 0.00 0.00 0.00
A-I-7 6,414.79 6,414.79 0.00 0.00 1,000,000.00
A-I-8 61,195.18 61,195.18 0.00 0.00 9,539,699.00
A-I-9 150,129.44 150,129.44 0.00 0.00 22,526,000.00
A-I-10 77,643.97 77,643.97 0.00 0.00 11,650,000.00
A-I-11 202,747.40 202,747.40 0.00 0.00 30,421,000.00
A-I-12 57,443.21 57,443.21 0.00 0.00 8,619,000.00
A-II 125,981.15 262,927.77 0.00 0.00 18,765,749.63
A-P 0.00 2,568.16 0.00 0.00 527,180.07
A-V 142,833.86 142,833.86 0.00 0.00 0.00
R-I 0.00 0.00 0.00 0.00 0.00
R-II 0.00 0.00 0.00 0.00 0.00
M-1 60,403.33 68,157.92 0.00 0.00 9,055,394.53
M-2 33,973.15 38,334.63 0.00 0.00 5,093,100.58
M-3 24,159.08 27,260.63 0.00 0.00 3,621,820.00
B-1 12,079.21 13,629.94 0.00 0.00 1,810,860.33
B-2 3,774.80 4,259.41 0.00 0.00 565,900.07
B-3 9,057.36 10,220.01 0.00 0.00 1,357,839.00
- -------------------------------------------------------------------------------
1,534,648.49 2,941,677.91 0.00 0.00 207,955,941.44
===============================================================================
Run: 07/23/97 15:35:48
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- 564.317501 31.859082 3.314397 35.173479 0.000000 532.458419
A-I- 807.907956 14.046642 4.097252 18.143894 0.000000 793.861314
A-I- 1000.000000 0.000000 5.935765 5.935765 0.000000 1000.000000
A-I- 1000.000000 0.000000 6.331483 6.331483 0.000000 1000.000000
A-I- 1000.000000 0.000000 6.414790 6.414790 0.000000 1000.000000
A-I- 1000.000000 0.000000 6.414791 6.414791 0.000000 1000.000000
A-I- 1000.000000 0.000000 6.664718 6.664718 0.000000 1000.000000
A-I- 1000.000000 0.000000 6.664718 6.664718 0.000000 1000.000000
A-I- 1000.000000 0.000000 6.664718 6.664718 0.000000 1000.000000
A-I- 1000.000000 0.000000 6.664719 6.664719 0.000000 1000.000000
A-II 940.245536 6.811909 6.266472 13.078381 0.000000 933.433627
A-P 881.227752 4.272101 0.000000 4.272101 0.000000 876.955651
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-1 994.355114 0.850788 6.627096 7.477884 0.000000 993.504326
M-2 994.355115 0.850788 6.627097 7.477885 0.000000 993.504327
M-3 994.355109 0.850789 6.627096 7.477885 0.000000 993.504320
B-1 994.355111 0.850787 6.627097 7.477884 0.000000 993.504323
B-2 994.355126 0.850790 6.627107 7.477897 0.000000 993.504336
B-3 994.355114 0.850688 6.627094 7.477782 0.000000 993.504327
_______________________________________________________________________________
DETERMINATION DATE 21-July-97
DISTRIBUTION DATE 25-July-97
Run: 07/23/97 15:35:49 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 43,617.33
SERVICING COMPENSATION RECEIVED BY MASTER SERVICER 11,333.56
SUBSERVICER ADVANCES THIS MONTH 39,115.72
MASTER SERVICER ADVANCES THIS MONTH 0.00
NUMBER OF PRINCIPAL
DELINQUENCIES: LOANS BALANCE
(A) ONE MONTHLY PAYMENT: 28 2,923,051.73
(B) TWO MONTHLY PAYMENTS: 4 1,266,974.29
(C) THREE OR MORE MONTHLY PAYMENTS: 1 158,511.43
FORECLOSURES
NUMBER OF LOANS 4
AGGREGATE PRINCIPAL BALANCE 415,156.71
SCHEDULED PRINCIPAL BALANCE OF MORTGAGE LOANS AFTER
DISTRIBUTION 207,955,941.44
AGGREGATE NUMBER OF LOANS IN THE POOL AS OF THE
DETERMINATION DATE 1,985
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 1,225,487.82
TOTAL REPURCHASES INCLUDED IN THIS DISTRIBUTION 0.00
DISTRIBUTION PERCENTAGES:
SENIOR CLASS M CLASS B
CURRENT DISTRIBUTION 89.46658120 % 8.49507100 % 1.78531930 %
PREPAYMENT PERCENT 100.00000000 % 0.00000000 % 0.00000000 %
NEXT DISTRIBUTION 89.63262650 % 8.54523078 % 1.80042510 %
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 9.12776900
ENDING WEIGHTED AVERAGE MATURITY, IN MONTHS 327.00
POOL TRADING FACTOR: 91.27285154
................................................................................
Run: 07/23/97 15:35:05 REPT1B.FRG
Page: 1 of 3
RESIDENTIAL FUNDING CORPORATION (MASTER SERVICER)
RESIDENTIAL ACCREDIT LOANS, INC. (COMPANY)
MORTGAGE ASSET-BACKED PASS-THROUGH CERTIFICATES SERIES 1996-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 3,696,067.83 7.400000 % 102,213.67
A-2 76110FEL3 4,074,824.00 3,347,184.64 7.300000 % 244,708.19
A-3 76110FEM1 13,128,206.00 13,128,206.00 7.050000 % 0.00
A-4 76110FEN9 3,765,148.00 3,765,148.00 7.300000 % 0.00
A-5 76110FEP4 10,500,000.00 10,500,000.00 7.400000 % 0.00
A-6 76110FEQ2 2,600,500.00 2,600,500.00 7.400000 % 0.00
A-7 76110FER0 31,579,563.00 29,462,594.17 6.187500 % 711,945.56
A-8 76110FES8 0.00 0.00 2.812500 % 0.00
A-9 76110FET6 32,965,000.00 27,715,230.75 0.000000 % 1,765,519.57
A-10 76110FEU3 20,953,719.00 20,851,729.73 7.400000 % 34,299.45
A-11 76110FEV1 13,975,000.00 13,975,000.00 7.750000 % 0.00
A-12 76110FEW9 2,000,000.00 2,000,000.00 7.750000 % 0.00
A-13 76110FEX7 20,646,958.00 20,646,958.00 7.750000 % 0.00
A-14 76110FEY5 115,824.70 114,673.78 0.000000 % 176.18
A-15 76110FGR8 0.00 0.00 0.904722 % 0.00
R-I 76110FEZ2 100.00 0.00 7.750000 % 0.00
R-II 76110FFA6 100.00 0.00 7.750000 % 0.00
M-1 76110FFB4 6,661,000.00 6,632,443.15 7.750000 % 4,110.95
M-2 76110FFC2 4,440,700.00 4,421,661.95 7.750000 % 2,740.65
M-3 76110FFD0 3,108,500.00 3,095,173.32 7.750000 % 1,918.46
B-1 1,509,500.00 1,503,028.52 7.750000 % 931.61
B-2 444,000.00 442,096.51 7.750000 % 274.02
B-3 1,154,562.90 1,149,612.96 7.750000 % 712.57
- -------------------------------------------------------------------------------
177,623,205.60 169,047,309.31 2,869,550.88
===============================================================================
_______________________________________________________________________________
REMAINING
INTEREST TOTAL DEFERRED REALIZED PRINCIPAL
DISTRIBUTION DISTRIBUTION INTEREST LOSSES BALANCE
_______________________________________________________________________________
A-1 22,786.24 124,999.91 0.00 0.00 3,593,854.16
A-2 20,356.52 265,064.71 0.00 0.00 3,102,476.45
A-3 77,107.29 77,107.29 0.00 0.00 13,128,206.00
A-4 22,898.44 22,898.44 0.00 0.00 3,765,148.00
A-5 64,732.44 64,732.44 0.00 0.00 10,500,000.00
A-6 16,032.07 16,032.07 0.00 0.00 2,600,500.00
A-7 151,875.29 863,820.85 0.00 0.00 28,750,648.61
A-8 69,034.23 69,034.23 0.00 0.00 0.00
A-9 169,563.99 1,935,083.56 0.00 0.00 25,949,711.18
A-10 128,550.79 162,850.24 0.00 0.00 20,817,430.28
A-11 90,230.73 90,230.73 0.00 0.00 13,975,000.00
A-12 12,913.17 12,913.17 0.00 0.00 2,000,000.00
A-13 133,308.77 133,308.77 0.00 0.00 20,646,958.00
A-14 0.00 176.18 0.00 0.00 114,497.60
A-15 127,416.08 127,416.08 0.00 0.00 0.00
R-I 0.00 0.00 0.00 0.00 0.00
R-II 0.00 0.00 0.00 0.00 0.00
M-1 42,822.91 46,933.86 0.00 0.00 6,628,332.20
M-2 28,548.82 31,289.47 0.00 0.00 4,418,921.30
M-3 19,984.24 21,902.70 0.00 0.00 3,093,254.86
B-1 9,704.43 10,636.04 0.00 0.00 1,502,096.91
B-2 2,854.44 3,128.46 0.00 0.00 441,822.49
B-3 7,422.57 8,135.14 0.00 0.00 1,148,900.39
- -------------------------------------------------------------------------------
1,218,143.46 4,087,694.34 0.00 0.00 166,177,758.43
===============================================================================
Run: 07/23/97 15:35:05
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-1 924.016958 25.553418 5.696560 31.249978 0.000000 898.463539
A-2 821.430481 60.053683 4.995681 65.049364 0.000000 761.376798
A-3 1000.000000 0.000000 5.873406 5.873406 0.000000 1000.000000
A-4 1000.000000 0.000000 6.081684 6.081684 0.000000 1000.000000
A-5 1000.000000 0.000000 6.164994 6.164994 0.000000 1000.000000
A-6 1000.000000 0.000000 6.164995 6.164995 0.000000 1000.000000
A-7 932.963961 22.544503 4.809290 27.353793 0.000000 910.419457
A-9 840.747179 53.557396 5.143758 58.701154 0.000000 787.189783
A-10 995.132641 1.636915 6.134987 7.771902 0.000000 993.495726
A-11 1000.000000 0.000000 6.456582 6.456582 0.000000 1000.000000
A-12 1000.000000 0.000000 6.456585 6.456585 0.000000 1000.000000
A-13 1000.000000 0.000000 6.456582 6.456582 0.000000 1000.000000
A-14 990.063259 1.521092 0.000000 1.521092 0.000000 988.542168
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-1 995.712828 0.617167 6.428901 7.046068 0.000000 995.095661
M-2 995.712827 0.617166 6.428901 7.046067 0.000000 995.095661
M-3 995.712826 0.617166 6.428901 7.046067 0.000000 995.095660
B-1 995.712832 0.617165 6.428904 7.046069 0.000000 995.095667
B-2 995.712860 0.617162 6.428919 7.046081 0.000000 995.095698
B-3 995.712715 0.617169 6.428900 7.046069 0.000000 995.095536
_______________________________________________________________________________
DETERMINATION DATE 21-July-97
DISTRIBUTION DATE 25-July-97
Run: 07/23/97 15:35:06 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 34,986.78
SERVICING COMPENSATION RECEIVED BY MASTER SERVICER 1,002.43
SUBSERVICER ADVANCES THIS MONTH 28,240.27
MASTER SERVICER ADVANCES THIS MONTH 0.00
NUMBER OF PRINCIPAL
DELINQUENCIES: LOANS BALANCE
(A) ONE MONTHLY PAYMENT: 30 2,445,081.68
(B) TWO MONTHLY PAYMENTS: 2 166,067.52
(C) THREE OR MORE MONTHLY PAYMENTS: 0 0.00
FORECLOSURES
NUMBER OF LOANS 5
AGGREGATE PRINCIPAL BALANCE 1,027,573.10
SCHEDULED PRINCIPAL BALANCE OF MORTGAGE LOANS AFTER
DISTRIBUTION 166,177,758.42
AGGREGATE NUMBER OF LOANS IN THE POOL AS OF THE
DETERMINATION DATE 1,557
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 2,764,712.57
TOTAL REPURCHASES INCLUDED IN THIS DISTRIBUTION 0.00
DISTRIBUTION PERCENTAGES:
SENIOR CLASS M CLASS B
CURRENT DISTRIBUTION 89.79237120 % 8.37569300 % 1.83193610 %
PREPAYMENT PERCENT 100.00000000 % 0.00000000 % 0.00000000 %
NEXT DISTRIBUTION 89.62243180 % 8.50926652 % 1.86243470 %
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 8.97599150
ENDING WEIGHTED AVERAGE MATURITY, IN MONTHS 345.75
POOL TRADING FACTOR: 93.55633340
................................................................................
Run: 07/23/97 15:35:14 REPT1B.FRG
Page: 1 of 3
RESIDENTIAL FUNDING CORPORATION (MASTER SERVICER)
RESIDENTIAL FUNDING MORTGAGE SECURITIES I, INC. (COMPANY)
MORTGAGE PASS-THROUGH CERTIFICATES SERIES 1997-QS1 (POOL # 4237)
STATEMENT TO CERTIFICATEHOLDERS
DISTRIBUTION SUMMARY FOR POOL# 4237
_______________________________________________________________________________
PRINCIPAL CURRENT
ORIGINAL BALANCE BEFORE PASS-THROUGH PRINCIPAL
CLASS CUSIP FACE VALUE DISTRIBUTION RATE DISTRIBUTION
_______________________________________________________________________________
A-1 76110FFE8 33,258,000.00 26,352,557.75 6.750000 % 1,557,048.91
A-2 76110FFF5 10,146,000.00 8,521,190.02 6.750000 % 366,364.46
A-3 76110FFG3 24,816,000.00 24,816,000.00 6.750000 % 0.00
A-4 76110FFH1 15,938,000.00 15,938,000.00 6.750000 % 0.00
A-5 76110FFJ7 10,253,000.00 10,253,000.00 6.750000 % 0.00
A-6 76110FFK4 31,511,646.00 29,683,734.87 11.000000 % 412,159.99
A-7 76110FFL2 17,652,000.00 17,652,000.00 6.750000 % 0.00
A-8 76110FFM0 5,655,589.00 5,655,589.00 6.750000 % 0.00
A-9 76110FFN8 19,068,000.00 19,068,000.00 6.750000 % 0.00
A-10 76110FFP3 10,267,765.00 10,267,765.00 6.750000 % 0.00
A-11 76110FFQ1 47,506,000.00 47,506,000.00 7.500000 % 0.00
A-12 76110FFR9 212,947.62 211,976.50 0.000000 % 266.32
A-13 76110FFS7 0.00 0.00 0.971342 % 0.00
R 76110FFT5 100.00 0.00 7.500000 % 0.00
M-1 76110FFV0 9,377,000.00 9,354,665.88 7.500000 % 5,748.15
M-2 76110FFW8 6,251,000.00 6,236,111.38 7.500000 % 3,831.90
M-3 76110FFW8 4,375,700.00 4,365,277.97 7.500000 % 2,682.33
B-1 1,624,900.00 1,621,029.82 7.500000 % 996.07
B-2 624,800.00 623,311.85 7.500000 % 383.01
B-3 1,500,282.64 1,496,709.26 7.500000 % 919.70
- -------------------------------------------------------------------------------
250,038,730.26 239,622,919.30 2,350,400.84
===============================================================================
_______________________________________________________________________________
REMAINING
INTEREST TOTAL DEFERRED REALIZED PRINCIPAL
DISTRIBUTION DISTRIBUTION INTEREST LOSSES BALANCE
_______________________________________________________________________________
A-1 148,208.50 1,705,257.41 0.00 0.00 24,795,508.84
A-2 47,923.72 414,288.18 0.00 0.00 8,154,825.56
A-3 139,566.80 139,566.80 0.00 0.00 24,816,000.00
A-4 89,636.35 89,636.35 0.00 0.00 15,938,000.00
A-5 57,663.54 57,663.54 0.00 0.00 10,253,000.00
A-6 272,055.68 684,215.67 0.00 0.00 29,271,574.88
A-7 99,276.00 99,276.00 0.00 0.00 17,652,000.00
A-8 31,807.40 31,807.40 0.00 0.00 5,655,589.00
A-9 107,239.67 107,239.67 0.00 0.00 19,068,000.00
A-10 57,746.58 57,746.58 0.00 0.00 10,267,765.00
A-11 296,863.15 296,863.15 0.00 0.00 47,506,000.00
A-12 0.00 266.32 0.00 0.00 211,710.18
A-13 193,930.94 193,930.94 0.00 0.00 0.00
R 0.00 0.00 0.00 0.00 0.00
M-1 58,456.94 64,205.09 0.00 0.00 9,348,917.73
M-2 38,969.22 42,801.12 0.00 0.00 6,232,279.48
M-3 27,278.46 29,960.79 0.00 0.00 4,362,595.64
B-1 10,129.76 11,125.83 0.00 0.00 1,620,033.75
B-2 3,895.05 4,278.06 0.00 0.00 622,928.84
B-3 9,352.88 10,272.58 0.00 0.00 1,495,789.56
- -------------------------------------------------------------------------------
1,690,000.64 4,040,401.48 0.00 0.00 237,272,518.46
===============================================================================
Run: 07/23/97 15:35:14
Page: 2 of 3
RESIDENTIAL FUNDING CORPORATION (MASTER SERVICER)
RESIDENTIAL FUNDING MORTGAGE SECURITIES I, INC. (COMPANY)
MORTGAGE PASS-THROUGH CERTIFICATES SERIES 1997-QS1 (POOL # 4237)
STATEMENT TO CERTIFICATEHOLDERS
DISTRIBUTION SUMMARY FOR POOL# 4237
_______________________________________________________________________________
AMOUNTS PER $1,000 UNIT
_______________________________________________________________________________
BEGINNING ENDING
BALANCE PRINCIPAL INTEREST TOTAL DEFERRED BALANCE
CLASS FACTOR FACTOR FACTOR DISTRIBUTION INTEREST FACTOR
_______________________________________________________________________________
A-1 792.367483 46.817274 4.456326 51.273600 0.000000 745.550209
A-2 839.857089 36.109251 4.723410 40.832661 0.000000 803.747838
A-3 1000.000000 0.000000 5.624065 5.624065 0.000000 1000.000000
A-4 1000.000000 0.000000 5.624065 5.624065 0.000000 1000.000000
A-5 1000.000000 0.000000 5.624065 5.624065 0.000000 1000.000000
A-6 941.992521 13.079608 8.633496 21.713104 0.000000 928.912913
A-7 1000.000000 0.000000 5.624065 5.624065 0.000000 1000.000000
A-8 1000.000000 0.000000 5.624065 5.624065 0.000000 1000.000000
A-9 1000.000000 0.000000 5.624065 5.624065 0.000000 1000.000000
A-10 1000.000000 0.000000 5.624065 5.624065 0.000000 1000.000000
A-11 1000.000000 0.000000 6.248961 6.248961 0.000000 1000.000000
A-12 995.439630 1.250636 0.000000 1.250636 0.000000 994.188994
R 0.000000 0.000000 0.000000 0.000000 0.000000 0.000000
M-1 997.618202 0.613005 6.234077 6.847082 0.000000 997.005197
M-2 997.618202 0.613006 6.234078 6.847084 0.000000 997.005196
M-3 997.618203 0.613006 6.234079 6.847085 0.000000 997.005197
B-1 997.618204 0.613004 6.234082 6.847086 0.000000 997.005200
B-2 997.618198 0.613012 6.234075 6.847087 0.000000 997.005186
B-3 997.618195 0.613004 6.234079 6.847083 0.000000 997.005178
_______________________________________________________________________________
DETERMINATION DATE 21-July-97
DISTRIBUTION DATE 25-July-97
Run: 07/23/97 15:35:15 rept2.frg
Page: 3 of 3
RESIDENTIAL FUNDING CORPORATION (MASTER SERVICER)
RESIDENTIAL FUNDING MORTGAGE SECURITIES I, INC. (COMPANY)
MORTGAGE PASS-THROUGH CERTIFICATES 1997-QS1 (POOL # 4237)
STATEMENT TO CERTIFICATEHOLDERS
ADDITIONAL RELATED INFORMATION FOR POOL 4237
_______________________________________________________________________________
SERVICING COMPENSATION RECEIVED BY SUB-SERVICER 50,137.92
SERVICING COMPENSATION RECEIVED BY MASTER SERVICER 8,833.68
SUBSERVICER ADVANCES THIS MONTH 27,823.96
MASTER SERVICER ADVANCES THIS MONTH 0.00
NUMBER OF PRINCIPAL
DELINQUENCIES: LOANS BALANCE
(A) ONE MONTHLY PAYMENT: 34 2,912,125.48
(B) TWO MONTHLY PAYMENTS: 2 276,505.67
(C) THREE OR MORE MONTHLY PAYMENTS: 0 0.00
FORECLOSURES
NUMBER OF LOANS 4
AGGREGATE PRINCIPAL BALANCE 356,647.27
SCHEDULED PRINCIPAL BALANCE OF MORTGAGE LOANS AFTER
DISTRIBUTION 237,272,518.46
AGGREGATE NUMBER OF LOANS IN THE POOL AS OF THE
DETERMINATION DATE 2,183
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 2,203,082.38
TOTAL REPURCHASES INCLUDED IN THIS DISTRIBUTION 0.00
DISTRIBUTION PERCENTAGES:
SENIOR CLASS M CLASS B
CURRENT DISTRIBUTION 90.10191180 % 8.33548200 % 1.56260650 %
PREPAYMENT PERCENT 100.00000000 % 0.00000000 % 0.00000000 %
NEXT DISTRIBUTION 90.00992820 % 8.40543733 % 1.57712790 %
BANKRUPTCY AMOUNT AVAILABLE 182,005.00
FRAUD AMOUNT AVAILABLE 5,000,775.00
SPECIAL HAZARD AMOUNT AVAILABLE 2,500,387.00
ENDING GROSS WEIGHTED AVERAGE INTEREST RATE 8.79253866
ENDING WEIGHTED AVERAGE MATURITY, IN MONTHS 350.55
POOL TRADING FACTOR: 94.89430626
................................................................................
Run: 07/23/97 15:35:20 REPT1B.FRG
Page: 1 of 3
RESIDENTIAL FUNDING CORPORATION (MASTER SERVICER)
RESIDENTIAL ACCREDIT LOANS, INC. (COMPANY)
MORTGAGE ASSET-BACKED PASS-THROUGH CERTIFICATES SERIES 1997-QS2 (POOL # 4240)
STATEMENT TO CERTIFICATEHOLDERS
DISTRIBUTION SUMMARY FOR POOL# 4240
_______________________________________________________________________________
PRINCIPAL CURRENT
ORIGINAL BALANCE BEFORE PASS-THROUGH PRINCIPAL
CLASS CUSIP FACE VALUE DISTRIBUTION RATE DISTRIBUTION
_______________________________________________________________________________
A-1 76110FFY4 31,108,570.00 29,553,348.84 9.000000 % 759,935.08
A-2 76110FFZ1 37,000,000.00 33,646,589.68 7.250000 % 1,638,592.77
A-3 76110FGA5 5,200,000.00 5,200,000.00 7.250000 % 0.00
A-4 76110FGB3 18,200,000.00 18,200,000.00 7.250000 % 0.00
A-5 76110FGC1 10,000,000.00 9,465,357.18 7.250000 % 261,245.05
A-6 76110FGD9 7,371,430.00 7,371,430.00 7.250000 % 0.00
A-7 76110FGE7 10,400,783.00 10,400,783.00 7.750000 % 0.00
A-8 76110FGF4 31,000,000.00 31,000,000.00 7.750000 % 0.00
A-9 76110FGG2 130,561.76 129,372.44 0.000000 % 147.39
A-10 76110FGH0 0.00 0.00 0.743958 % 0.00
R 76100FGJ6 100.00 0.00 7.750000 % 0.00
M-1 76110FGK3 4,931,600.00 4,923,199.56 7.750000 % 2,931.94
M-2 76110FGL1 4,109,600.00 4,102,599.74 7.750000 % 2,443.25
M-3 76110FGM9 2,630,200.00 2,625,719.74 7.750000 % 1,563.71
B-1 1,068,500.00 1,066,679.93 7.750000 % 635.25
B-2 410,900.00 410,200.08 7.750000 % 244.29
B-3 821,738.81 820,339.06 7.750000 % 488.53
- -------------------------------------------------------------------------------
164,383,983.57 158,915,619.25 2,668,227.26
===============================================================================
_______________________________________________________________________________
REMAINING
INTEREST TOTAL DEFERRED REALIZED PRINCIPAL
DISTRIBUTION DISTRIBUTION INTEREST LOSSES BALANCE
_______________________________________________________________________________
A-1 221,594.21 981,529.29 0.00 0.00 28,793,413.76
A-2 203,230.21 1,841,822.98 0.00 0.00 32,007,996.91
A-3 31,408.75 31,408.75 0.00 0.00 5,200,000.00
A-4 109,930.60 109,930.60 0.00 0.00 18,200,000.00
A-5 57,172.11 318,417.16 0.00 0.00 9,204,112.13
A-6 44,524.49 44,524.49 0.00 0.00 7,371,430.00
A-7 67,154.78 67,154.78 0.00 0.00 10,400,783.00
A-8 200,157.83 200,157.83 0.00 0.00 31,000,000.00
A-9 0.00 147.39 0.00 0.00 129,225.05
A-10 98,497.25 98,497.25 0.00 0.00 0.00
R 0.00 0.00 0.00 0.00 0.00
M-1 31,787.64 34,719.58 0.00 0.00 4,920,267.62
M-2 26,489.28 28,932.53 0.00 0.00 4,100,156.49
M-3 16,953.49 18,517.20 0.00 0.00 2,624,156.03
B-1 6,887.23 7,522.48 0.00 0.00 1,066,044.68
B-2 2,648.54 2,892.83 0.00 0.00 409,955.79
B-3 5,296.68 5,785.21 0.00 0.00 819,850.53
- -------------------------------------------------------------------------------
1,123,733.09 3,791,960.35 0.00 0.00 156,247,391.99
===============================================================================
Run: 07/23/97 15:35:20
Page: 2 of 3
RESIDENTIAL FUNDING CORPORATION (MASTER SERVICER)
RESIDENTIAL ACCREDIT LOANS, INC. (COMPANY)
MORTGAGE ASSET-BACKED PASS-THROUGH CERTIFICATES SERIES 1997-QS2 (POOL # 4240)
STATEMENT TO CERTIFICATEHOLDERS
DISTRIBUTION SUMMARY FOR POOL# 4240
_______________________________________________________________________________
AMOUNTS PER $1,000 UNIT
_______________________________________________________________________________
BEGINNING ENDING
BALANCE PRINCIPAL INTEREST TOTAL DEFERRED BALANCE
CLASS FACTOR FACTOR FACTOR DISTRIBUTION INTEREST FACTOR
_______________________________________________________________________________
A-1 950.006665 24.428480 7.123253 31.551733 0.000000 925.578185
A-2 909.367289 44.286291 5.492708 49.778999 0.000000 865.080998
A-3 1000.000000 0.000000 6.040144 6.040144 0.000000 1000.000000
A-4 1000.000000 0.000000 6.040143 6.040143 0.000000 1000.000000
A-5 946.535718 26.124505 5.717211 31.841716 0.000000 920.411213
A-6 1000.000000 0.000000 6.040143 6.040143 0.000000 1000.000000
A-7 1000.000000 0.000000 6.456704 6.456704 0.000000 1000.000000
A-8 1000.000000 0.000000 6.456704 6.456704 0.000000 1000.000000
A-9 990.890748 1.128891 0.000000 1.128891 0.000000 989.761857
R 0.000000 0.000000 0.000000 0.000000 0.000000 0.000000
M-1 998.296610 0.594521 6.445705 7.040226 0.000000 997.702089
M-2 998.296608 0.594523 6.445708 7.040231 0.000000 997.702085
M-3 998.296609 0.594521 6.445704 7.040225 0.000000 997.702087
B-1 998.296612 0.594525 6.445700 7.040225 0.000000 997.702087
B-2 998.296617 0.594524 6.445705 7.040229 0.000000 997.702093
B-3 998.296600 0.594520 6.445698 7.040218 0.000000 997.702092
_______________________________________________________________________________
DETERMINATION DATE 21-July-97
DISTRIBUTION DATE 25-July-97
Run: 07/23/97 15:35:20 rept2.frg
Page: 3 of 3
RESIDENTIAL FUNDING CORPORATION (MASTER SERVICER)
RESIDENTIAL ACCREDIT LOANS, INC. (COMPANY)
MORTGAGE ASSET-BACKED PASS-THROUGH CERTIFICATES 1997-QS2 (POOL # 4240)
STATEMENT TO CERTIFICATEHOLDERS
ADDITIONAL RELATED INFORMATION FOR POOL 4240
_______________________________________________________________________________
SERVICING COMPENSATION RECEIVED BY SUB-SERVICER 32,976.59
SERVICING COMPENSATION RECEIVED BY MASTER SERVICER 1,231.14
SUBSERVICER ADVANCES THIS MONTH 43,880.49
MASTER SERVICER ADVANCES THIS MONTH 0.00
NUMBER OF PRINCIPAL
DELINQUENCIES: LOANS BALANCE
(A) ONE MONTHLY PAYMENT: 46 5,088,044.46
(B) TWO MONTHLY PAYMENTS: 6 394,742.63
(C) THREE OR MORE MONTHLY PAYMENTS: 0 0.00
FORECLOSURES
NUMBER OF LOANS 1
AGGREGATE PRINCIPAL BALANCE 202,383.49
SCHEDULED PRINCIPAL BALANCE OF MORTGAGE LOANS AFTER
DISTRIBUTION 156,247,391.99
AGGREGATE NUMBER OF LOANS IN THE POOL AS OF THE
DETERMINATION DATE 1,462
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 2,573,570.10
TOTAL REPURCHASES INCLUDED IN THIS DISTRIBUTION 0.00
DISTRIBUTION PERCENTAGES:
SENIOR CLASS M CLASS B
CURRENT DISTRIBUTION 91.21539910 % 7.33786400 % 1.44673680 %
PREPAYMENT PERCENT 100.00000000 % 0.00000000 % 0.00000000 %
NEXT DISTRIBUTION 91.07059000 % 7.45265568 % 1.47058540 %
BANKRUPTCY AMOUNT AVAILABLE 100,000.00
FRAUD AMOUNT AVAILABLE 4,931,520.00
SPECIAL HAZARD AMOUNT AVAILABLE 1,900,600.00
ENDING GROSS WEIGHTED AVERAGE INTEREST RATE 8.81341790
ENDING WEIGHTED AVERAGE MATURITY, IN MONTHS 352.52
POOL TRADING FACTOR: 95.05025283
................................................................................
Run: 07/23/97 15:35:23 REPT1B.FRG
Page: 1 of 3
RESIDENTIAL FUNDING CORPORATION (MASTER SERVICER)
RESIDENTIAL ACCREDIT LOANS, INC. (COMPANY)
MORTGAGE ASSET-BACKED PASS-THROUGH CERTIFICATES SERIES 1997-QS3 (POOL # 4244)
STATEMENT TO CERTIFICATEHOLDERS
DISTRIBUTION SUMMARY FOR POOL# 4244
_______________________________________________________________________________
PRINCIPAL CURRENT
ORIGINAL BALANCE BEFORE PASS-THROUGH PRINCIPAL
CLASS CUSIP FACE VALUE DISTRIBUTION RATE DISTRIBUTION
_______________________________________________________________________________
A-1 76110FGS6 32,109,000.00 29,781,346.70 7.250000 % 1,173,883.22
A-2 76110FGT4 26,579,000.00 26,579,000.00 7.500000 % 0.00
A-3 76110FGU1 16,821,000.00 16,821,000.00 7.500000 % 0.00
A-4 76110FGV9 23,490,000.00 23,490,000.00 7.750000 % 0.00
A-5 76110FGW7 7,138,000.00 7,138,000.00 7.750000 % 0.00
A-6 76110FGX5 1,000,000.00 1,000,000.00 7.750000 % 0.00
A-7 76110FGY3 15,374,000.00 14,708,956.20 9.500000 % 335,395.21
A-8 76110FGZ0 27,500,000.00 27,500,000.00 7.750000 % 0.00
A-9 76110FHA4 107,351.50 107,141.78 0.000000 % 82.70
A-10 76110FHB2 0.00 0.00 0.747925 % 0.00
R 76110FHC0 100.00 0.00 7.750000 % 0.00
M-1 76110FHD8 5,346,700.00 5,340,535.98 7.750000 % 3,128.27
M-2 76110FHE6 4,112,900.00 4,108,158.38 7.750000 % 2,406.39
M-3 76110FHF3 2,632,200.00 2,629,165.43 7.750000 % 1,540.06
B-1 1,069,400.00 1,068,167.13 7.750000 % 625.69
B-2 411,200.00 410,725.95 7.750000 % 240.59
B-3 823,585.68 822,636.16 7.750000 % 481.86
- -------------------------------------------------------------------------------
164,514,437.18 161,504,833.71 1,517,783.99
===============================================================================
_______________________________________________________________________________
REMAINING
INTEREST TOTAL DEFERRED REALIZED PRINCIPAL
DISTRIBUTION DISTRIBUTION INTEREST LOSSES BALANCE
_______________________________________________________________________________
A-1 179,830.30 1,353,713.52 0.00 0.00 28,607,463.48
A-2 166,027.65 166,027.65 0.00 0.00 26,579,000.00
A-3 105,073.60 105,073.60 0.00 0.00 16,821,000.00
A-4 151,623.06 151,623.06 0.00 0.00 23,490,000.00
A-5 46,074.30 46,074.30 0.00 0.00 7,138,000.00
A-6 6,454.79 6,454.79 0.00 0.00 1,000,000.00
A-7 116,382.04 451,777.25 0.00 0.00 14,373,560.99
A-8 177,506.78 177,506.78 0.00 0.00 27,500,000.00
A-9 0.00 82.70 0.00 0.00 107,059.08
A-10 100,606.01 100,606.01 0.00 0.00 0.00
R 0.00 0.00 0.00 0.00 0.00
M-1 34,472.05 37,600.32 0.00 0.00 5,337,407.71
M-2 26,517.31 28,923.70 0.00 0.00 4,105,751.99
M-3 16,970.72 18,510.78 0.00 0.00 2,627,625.37
B-1 6,894.80 7,520.49 0.00 0.00 1,067,541.44
B-2 2,651.16 2,891.75 0.00 0.00 410,485.36
B-3 5,309.95 5,791.81 0.00 0.00 822,154.30
- -------------------------------------------------------------------------------
1,142,394.52 2,660,178.51 0.00 0.00 159,987,049.72
===============================================================================
Run: 07/23/97 15:35:23
Page: 2 of 3
RESIDENTIAL FUNDING CORPORATION (MASTER SERVICER)
RESIDENTIAL ACCREDIT LOANS, INC. (COMPANY)
MORTGAGE ASSET-BACKED PASS-THROUGH CERTIFICATES SERIES 1997-QS3 (POOL # 4244)
STATEMENT TO CERTIFICATEHOLDERS
DISTRIBUTION SUMMARY FOR POOL# 4244
_______________________________________________________________________________
AMOUNTS PER $1,000 UNIT
_______________________________________________________________________________
BEGINNING ENDING
BALANCE PRINCIPAL INTEREST TOTAL DEFERRED BALANCE
CLASS FACTOR FACTOR FACTOR DISTRIBUTION INTEREST FACTOR
_______________________________________________________________________________
A-1 927.507761 36.559320 5.600620 42.159940 0.000000 890.948441
A-2 1000.000000 0.000000 6.246572 6.246572 0.000000 1000.000000
A-3 1000.000000 0.000000 6.246573 6.246573 0.000000 1000.000000
A-4 1000.000000 0.000000 6.454792 6.454792 0.000000 1000.000000
A-5 1000.000000 0.000000 6.454791 6.454791 0.000000 1000.000000
A-6 1000.000000 0.000000 6.454790 6.454790 0.000000 1000.000000
A-7 956.742305 21.815741 7.570056 29.385797 0.000000 934.926564
A-8 1000.000000 0.000000 6.454792 6.454792 0.000000 1000.000000
A-9 998.046418 0.770367 0.000000 0.770367 0.000000 997.276051
R 0.000000 0.000000 0.000000 0.000000 0.000000 0.000000
M-1 998.847136 0.585084 6.447351 7.032435 0.000000 998.262051
M-2 998.847135 0.585084 6.447351 7.032435 0.000000 998.262051
M-3 998.847135 0.585085 6.447352 7.032437 0.000000 998.262051
B-1 998.847139 0.585085 6.447354 7.032439 0.000000 998.262054
B-2 998.847155 0.585092 6.447374 7.032466 0.000000 998.262062
B-3 998.847090 0.585039 6.447356 7.032395 0.000000 998.262009
_______________________________________________________________________________
DETERMINATION DATE 21-July-97
DISTRIBUTION DATE 25-July-97
Run: 07/23/97 15:35:24 rept2.frg
Page: 3 of 3
RESIDENTIAL FUNDING CORPORATION (MASTER SERVICER)
RESIDENTIAL ACCREDIT LOANS, INC. (COMPANY)
MORTGAGE ASSET-BACKED PASS-THROUGH CERTIFICATES 1997-QS3 (POOL # 4244)
STATEMENT TO CERTIFICATEHOLDERS
ADDITIONAL RELATED INFORMATION FOR POOL 4244
_______________________________________________________________________________
SERVICING COMPENSATION RECEIVED BY SUB-SERVICER 33,506.20
SERVICING COMPENSATION RECEIVED BY MASTER SERVICER 6,955.95
SUBSERVICER ADVANCES THIS MONTH 32,754.66
MASTER SERVICER ADVANCES THIS MONTH 0.00
NUMBER OF PRINCIPAL
DELINQUENCIES: LOANS BALANCE
(A) ONE MONTHLY PAYMENT: 39 3,824,944.17
(B) TWO MONTHLY PAYMENTS: 4 442,587.50
(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 159,987,049.72
AGGREGATE NUMBER OF LOANS IN THE POOL AS OF THE
DETERMINATION DATE 1,459
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 1,423,167.08
TOTAL REPURCHASES INCLUDED IN THIS DISTRIBUTION 0.00
DISTRIBUTION PERCENTAGES:
SENIOR CLASS M CLASS B
CURRENT DISTRIBUTION 91.09070960 % 7.48329200 % 1.42599890 %
PREPAYMENT PERCENT 100.00000000 % 0.00000000 % 0.00000000 %
NEXT DISTRIBUTION 91.01140420 % 7.54485134 % 1.43869230 %
BANKRUPTCY AMOUNT AVAILABLE 100,000.00
FRAUD AMOUNT AVAILABLE 4,935,433.00
SPECIAL HAZARD AMOUNT AVAILABLE 1,650,000.00
ENDING GROSS WEIGHTED AVERAGE INTEREST RATE 8.82032381
ENDING WEIGHTED AVERAGE MATURITY, IN MONTHS 354.40
POOL TRADING FACTOR: 97.24803030
................................................................................
Run: 07/23/97 15:35:28 REPT1B.FRG
Page: 1 of 3
RESIDENTIAL FUNDING CORPORATION (MASTER SERVICER)
RESIDENTIAL ACCREDIT LOANS, INC. (COMPANY)
MORTGAGE ASSET-BACKED PASS-THROUGH CERTIFICATES SERIES 1997-QS4 (POOL # 4247)
STATEMENT TO CERTIFICATEHOLDERS
DISTRIBUTION SUMMARY FOR POOL# 4247
_______________________________________________________________________________
PRINCIPAL CURRENT
ORIGINAL BALANCE BEFORE PASS-THROUGH PRINCIPAL
CLASS CUSIP FACE VALUE DISTRIBUTION RATE DISTRIBUTION
_______________________________________________________________________________
A-1 76110FHK2 43,231,010.00 42,516,186.95 7.250000 % 923,490.26
A-2 76110FHL0 35,775,000.00 35,775,000.00 7.250000 % 0.00
A-3 76110FHM8 22,398,546.00 22,398,546.00 7.250000 % 0.00
A-4 76110FHN6 24,498,244.00 24,339,394.45 10.000000 % 205,220.03
A-5 76110FHP1 17,675,100.00 17,675,100.00 7.500000 % 0.00
A-6 76110FHQ9 7,150,100.00 7,150,100.00 7.750000 % 0.00
A-7 76110FHR7 52,000,000.00 52,000,000.00 7.750000 % 0.00
A-8 76110FHS5 155,284.33 155,157.19 0.000000 % 116.13
A-9 76110FHT3 0.00 0.00 0.761102 % 0.00
R 76110FHU0 100.00 0.00 7.750000 % 0.00
M-1 76110FHV8 7,186,600.00 7,182,462.87 7.750000 % 4,209.07
M-2 76110FHW6 4,975,300.00 4,972,435.85 7.750000 % 2,913.95
M-3 76110FHX4 3,316,900.00 3,314,990.55 7.750000 % 1,942.65
B-1 1,216,200.00 1,215,499.87 7.750000 % 712.31
B-2 552,900.00 552,581.71 7.750000 % 323.82
B-3 995,114.30 994,541.43 7.750000 % 582.83
- -------------------------------------------------------------------------------
221,126,398.63 220,241,996.87 1,139,511.05
===============================================================================
_______________________________________________________________________________
REMAINING
INTEREST TOTAL DEFERRED REALIZED PRINCIPAL
DISTRIBUTION DISTRIBUTION INTEREST LOSSES BALANCE
_______________________________________________________________________________
A-1 256,689.16 1,180,179.42 0.00 0.00 41,592,696.69
A-2 215,989.62 215,989.62 0.00 0.00 35,775,000.00
A-3 135,230.00 135,230.00 0.00 0.00 22,398,546.00
A-4 202,686.58 407,906.61 0.00 0.00 24,134,174.42
A-5 110,392.20 110,392.20 0.00 0.00 17,675,100.00
A-6 46,145.47 46,145.47 0.00 0.00 7,150,100.00
A-7 335,598.69 335,598.69 0.00 0.00 52,000,000.00
A-8 0.00 116.13 0.00 0.00 155,041.06
A-9 139,591.31 139,591.31 0.00 0.00 0.00
R 0.00 0.00 0.00 0.00 0.00
M-1 46,354.33 50,563.40 0.00 0.00 7,178,253.80
M-2 32,091.21 35,005.16 0.00 0.00 4,969,521.90
M-3 21,394.35 23,337.00 0.00 0.00 3,313,047.90
B-1 7,844.62 8,556.93 0.00 0.00 1,214,787.56
B-2 3,566.27 3,890.09 0.00 0.00 552,257.89
B-3 6,418.59 7,001.42 0.00 0.00 993,958.60
- -------------------------------------------------------------------------------
1,559,992.40 2,699,503.45 0.00 0.00 219,102,485.82
===============================================================================
Run: 07/23/97 15:35:28
Page: 2 of 3
RESIDENTIAL FUNDING CORPORATION (MASTER SERVICER)
RESIDENTIAL ACCREDIT LOANS, INC. (COMPANY)
MORTGAGE ASSET-BACKED PASS-THROUGH CERTIFICATES SERIES 1997-QS4 (POOL # 4247)
STATEMENT TO CERTIFICATEHOLDERS
DISTRIBUTION SUMMARY FOR POOL# 4247
_______________________________________________________________________________
AMOUNTS PER $1,000 UNIT
_______________________________________________________________________________
BEGINNING ENDING
BALANCE PRINCIPAL INTEREST TOTAL DEFERRED BALANCE
CLASS FACTOR FACTOR FACTOR DISTRIBUTION INTEREST FACTOR
_______________________________________________________________________________
A-1 983.465039 21.361755 5.937617 27.299372 0.000000 962.103284
A-2 1000.000000 0.000000 6.037446 6.037446 0.000000 1000.000000
A-3 1000.000000 0.000000 6.037445 6.037445 0.000000 1000.000000
A-4 993.515880 8.376928 8.273515 16.650443 0.000000 985.138952
A-5 1000.000000 0.000000 6.245634 6.245634 0.000000 1000.000000
A-6 1000.000000 0.000000 6.453822 6.453822 0.000000 1000.000000
A-7 1000.000000 0.000000 6.453821 6.453821 0.000000 1000.000000
A-8 999.181244 0.747854 0.000000 0.747854 0.000000 998.433390
R 0.000000 0.000000 0.000000 0.000000 0.000000 0.000000
M-1 999.424327 0.585683 6.450106 7.035789 0.000000 998.838644
M-2 999.424326 0.585683 6.450106 7.035789 0.000000 998.838643
M-3 999.424327 0.585682 6.450104 7.035786 0.000000 998.838645
B-1 999.424330 0.585685 6.450107 7.035792 0.000000 998.838645
B-2 999.424326 0.585676 6.450118 7.035794 0.000000 998.838651
B-3 999.424317 0.585681 6.450103 7.035784 0.000000 998.838630
_______________________________________________________________________________
DETERMINATION DATE 21-July-97
DISTRIBUTION DATE 25-July-97
Run: 07/23/97 15:35:28 rept2.frg
Page: 3 of 3
RESIDENTIAL FUNDING CORPORATION (MASTER SERVICER)
RESIDENTIAL ACCREDIT LOANS, INC. (COMPANY)
MORTGAGE ASSET-BACKED PASS-THROUGH CERTIFICATES 1997-QS4 (POOL # 4247)
STATEMENT TO CERTIFICATEHOLDERS
ADDITIONAL RELATED INFORMATION FOR POOL 4247
_______________________________________________________________________________
SERVICING COMPENSATION RECEIVED BY SUB-SERVICER 45,875.92
SERVICING COMPENSATION RECEIVED BY MASTER SERVICER 13,245.72
SUBSERVICER ADVANCES THIS MONTH 61,472.04
MASTER SERVICER ADVANCES THIS MONTH 0.00
NUMBER OF PRINCIPAL
DELINQUENCIES: LOANS BALANCE
(A) ONE MONTHLY PAYMENT: 59 7,614,164.11
(B) TWO MONTHLY PAYMENTS: 2 193,700.00
(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 219,102,485.82
AGGREGATE NUMBER OF LOANS IN THE POOL AS OF THE
DETERMINATION DATE 1,959
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 1,010,421.21
TOTAL REPURCHASES INCLUDED IN THIS DISTRIBUTION 0.00
DISTRIBUTION PERCENTAGES:
SENIOR CLASS M CLASS B
CURRENT DISTRIBUTION 91.71576440 % 7.02899300 % 1.25524230 %
PREPAYMENT PERCENT 100.00000000 % 0.00000000 % 0.00000000 %
NEXT DISTRIBUTION 91.67753350 % 7.05643459 % 1.26103510 %
BANKRUPTCY AMOUNT AVAILABLE 146,943.00
FRAUD AMOUNT AVAILABLE 6,633,792.00
SPECIAL HAZARD AMOUNT AVAILABLE 2,211,264.00
ENDING GROSS WEIGHTED AVERAGE INTEREST RATE 8.83336457
ENDING WEIGHTED AVERAGE MATURITY, IN MONTHS 355.47
POOL TRADING FACTOR: 99.08472583
................................................................................
Run: 07/23/97 15:35:29 REPT1B.FRG
Page: 1 of 3
RESIDENTIAL FUNDING CORPORATION (MASTER SERVICER)
RESIDENTIAL ACCREDIT LOANS, INC. (COMPANY)
MORTGAGE PASS-THROUGH CERTIFICATES SERIES 1997-QS5 (POOL # 4248)
STATEMENT TO CERTIFICATEHOLDERS
DISTRIBUTION SUMMARY FOR POOL# 4248
_______________________________________________________________________________
PRINCIPAL CURRENT
ORIGINAL BALANCE BEFORE PASS-THROUGH PRINCIPAL
CLASS CUSIP FACE VALUE DISTRIBUTION RATE DISTRIBUTION
_______________________________________________________________________________
A-1 76110FHZ9 33,300,000.00 33,300,000.00 7.250000 % 525,455.08
A-2 76110FJA2 10,800,000.00 10,800,000.00 7.250000 % 0.00
A-3 76110FJB0 29,956,909.00 29,956,909.00 10.000000 % 197,045.65
A-4 76110FJC8 24,000,000.00 24,000,000.00 7.250000 % 0.00
A-5 76110FJD6 11,785,091.00 11,785,091.00 7.250000 % 0.00
A-6 76110FJE4 18,143,000.00 18,143,000.00 8.000000 % 0.00
A-7 76110FJF1 4,767,000.00 4,767,000.00 8.000000 % 0.00
A-8 76110FJG9 0.00 0.00 0.750000 % 0.00
A-9 76110FJH7 42,917,000.00 42,917,000.00 7.250000 % 0.00
A-10 76110FJJ3 340,158.57 340,158.57 0.000000 % 334.95
A-11 76110FJK0 0.00 0.00 0.643794 % 0.00
R-I 76110FJL8 100.00 100.00 8.000000 % 100.00
R-II 76110FJM6 100.00 100.00 8.000000 % 100.00
M-1 76110FJN4 6,730,000.00 6,730,000.00 8.000000 % 3,782.49
M-2 76110FJP9 4,330,000.00 4,330,000.00 8.000000 % 2,433.61
M-3 76110FJQ7 2,886,000.00 2,886,000.00 8.000000 % 1,622.03
B-1 1,058,000.00 1,058,000.00 8.000000 % 594.63
B-2 481,000.00 481,000.00 8.000000 % 270.34
B-3 866,066.26 866,066.26 8.000000 % 486.74
- -------------------------------------------------------------------------------
192,360,424.83 192,360,424.83 732,225.52
===============================================================================
_______________________________________________________________________________
REMAINING
INTEREST TOTAL DEFERRED REALIZED PRINCIPAL
DISTRIBUTION DISTRIBUTION INTEREST LOSSES BALANCE
_______________________________________________________________________________
A-1 201,127.66 726,582.74 0.00 0.00 32,774,544.92
A-2 65,230.59 65,230.59 0.00 0.00 10,800,000.00
A-3 249,566.65 446,612.30 0.00 0.00 29,759,863.35
A-4 144,956.87 144,956.87 0.00 0.00 24,000,000.00
A-5 71,180.41 71,180.41 0.00 0.00 11,785,091.00
A-6 120,917.35 120,917.35 0.00 0.00 18,143,000.00
A-7 31,770.55 31,770.55 0.00 0.00 4,767,000.00
A-8 26,815.15 26,815.15 0.00 0.00 0.00
A-9 259,213.08 259,213.08 0.00 0.00 42,917,000.00
A-10 0.00 334.95 0.00 0.00 339,823.62
A-11 103,169.74 103,169.74 0.00 0.00 0.00
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 44,853.32 48,635.81 0.00 0.00 6,726,217.51
M-2 28,858.08 31,291.69 0.00 0.00 4,327,566.39
M-3 19,234.28 20,856.31 0.00 0.00 2,884,377.97
B-1 7,051.23 7,645.86 0.00 0.00 1,057,405.37
B-2 3,205.72 3,476.06 0.00 0.00 480,729.66
B-3 5,772.06 6,258.80 0.00 0.00 865,579.52
- -------------------------------------------------------------------------------
1,382,924.08 2,115,149.60 0.00 0.00 191,628,199.31
===============================================================================
Run: 07/23/97 15:35:29
Page: 2 of 3
RESIDENTIAL FUNDING CORPORATION (MASTER SERVICER)
RESIDENTIAL ACCREDIT LOANS, INC. (COMPANY)
MORTGAGE PASS-THROUGH CERTIFICATES SERIES 1997-QS5 (POOL # 4248)
STATEMENT TO CERTIFICATEHOLDERS
DISTRIBUTION SUMMARY FOR POOL# 4248
_______________________________________________________________________________
AMOUNTS PER $1,000 UNIT
_______________________________________________________________________________
BEGINNING ENDING
BALANCE PRINCIPAL INTEREST TOTAL DEFERRED BALANCE
CLASS FACTOR FACTOR FACTOR DISTRIBUTION INTEREST FACTOR
_______________________________________________________________________________
A-1 1000.000000 15.779432 6.039870 21.819302 0.000000 984.220568
A-2 1000.000000 0.000000 6.039869 6.039869 0.000000 1000.000000
A-3 1000.000000 6.577636 8.330854 14.908490 0.000000 993.422364
A-4 1000.000000 0.000000 6.039870 6.039870 0.000000 1000.000000
A-5 1000.000000 0.000000 6.039869 6.039869 0.000000 1000.000000
A-6 1000.000000 0.000000 6.664683 6.664683 0.000000 1000.000000
A-7 1000.000000 0.000000 6.664684 6.664684 0.000000 1000.000000
A-9 1000.000000 0.000000 6.039870 6.039870 0.000000 1000.000000
A-10 1000.000000 0.984688 0.000000 0.984688 0.000000 999.015312
R-I 1000.000000 1000.0000 6.700000 1006.700000 0.000000 0.000000
R-II 1000.000000 1000.0000 6.700000 1006.700000 0.000000 0.000000
M-1 1000.000000 0.562034 6.664684 7.226718 0.000000 999.437966
M-2 1000.000000 0.562035 6.664684 7.226719 0.000000 999.437965
M-3 1000.000000 0.562034 6.664685 7.226719 0.000000 999.437966
B-1 1000.000000 0.562032 6.664679 7.226711 0.000000 999.437968
B-2 1000.000000 0.562037 6.664699 7.226736 0.000000 999.437963
B-3 1000.000000 0.562012 6.664686 7.226698 0.000000 999.437992
_______________________________________________________________________________
DETERMINATION DATE 21-July-97
DISTRIBUTION DATE 25-July-97
Run: 07/23/97 15:35:30 rept2.frg
Page: 3 of 3
RESIDENTIAL FUNDING CORPORATION (MASTER SERVICER)
RESIDENTIAL ACCREDIT LOANS, INC. (COMPANY)
MORTGAGE PASS-THROUGH CERTIFICATES 1997-QS5 (POOL # 4248)
STATEMENT TO CERTIFICATEHOLDERS
ADDITIONAL RELATED INFORMATION FOR POOL 4248
_______________________________________________________________________________
SERVICING COMPENSATION RECEIVED BY SUB-SERVICER 40,071.92
SERVICING COMPENSATION RECEIVED BY MASTER SERVICER 11,007.84
SUBSERVICER ADVANCES THIS MONTH 3,072.29
MASTER SERVICER ADVANCES THIS MONTH 0.00
NUMBER OF PRINCIPAL
DELINQUENCIES: LOANS BALANCE
(A) ONE MONTHLY PAYMENT: 5 390,185.69
(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 191,628,199.31
AGGREGATE NUMBER OF LOANS IN THE POOL AS OF THE
DETERMINATION DATE 1,761
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 624,036.53
TOTAL REPURCHASES INCLUDED IN THIS DISTRIBUTION 0.00
DISTRIBUTION PERCENTAGES:
SENIOR CLASS M CLASS B
CURRENT DISTRIBUTION 91.48471850 % 7.26277500 % 1.25250650 %
PREPAYMENT PERCENT 100.00000000 % 0.00000000 % 0.00000000 %
NEXT DISTRIBUTION 91.45694220 % 7.27354425 % 1.25659210 %
BANKRUPTCY AMOUNT AVAILABLE 146,943.00
FRAUD AMOUNT AVAILABLE 5,770,813.00
SPECIAL HAZARD AMOUNT AVAILABLE 1,923,604.00
ENDING GROSS WEIGHTED AVERAGE INTEREST RATE 8.95810912
ENDING WEIGHTED AVERAGE MATURITY, IN MONTHS 0.00
POOL TRADING FACTOR: 99.61934711
................................................................................
Run: 07/23/97 15:35:31 REPT1B.FRG
Page: 1 of 2
RESIDENTIAL FUNDING CORPORATION (MASTER SERVICER)
RESIDENTIAL ACCREDIT LOANS, INC. (COMPANY)
MORTGAGE PASS-THROUGH CERTIFICATES SERIES 1997-QS6 (POOL # 4249)
STATEMENT TO CERTIFICATEHOLDERS
DISTRIBUTION SUMMARY FOR POOL# 4249
_______________________________________________________________________________
PRINCIPAL CURRENT
ORIGINAL BALANCE BEFORE PASS-THROUGH PRINCIPAL
CLASS CUSIP FACE VALUE DISTRIBUTION RATE DISTRIBUTION
_______________________________________________________________________________
A-1 76110FJR5 42,946,000.00 42,946,000.00 7.500000 % 645,623.20
A-2 76110FJS3 15,683,000.00 15,683,000.00 7.500000 % 0.00
A-3 76110FJT1 18,746,000.00 18,746,000.00 7.500000 % 0.00
A-4 76110FJU8 2,046,000.00 2,046,000.00 7.500000 % 0.00
A-5 76110FJV6 21,277,000.00 21,277,000.00 7.500000 % 62,138.94
A-6 76110FJW4 164,986.80 164,986.80 0.000000 % 543.80
A-7 76110FJX2 0.00 0.00 0.741410 % 0.00
R 76110FJY0 100.00 100.00 7.500000 % 100.00
M-1 2,654,400.00 2,654,400.00 7.500000 % 7,753.18
M-2 76110FKA0 1,061,700.00 1,061,700.00 7.500000 % 3,101.10
M-3 76110FKB8 690,100.00 690,100.00 7.500000 % 2,015.70
B-1 371,600.00 371,600.00 7.500000 % 1,085.40
B-2 159,300.00 159,300.00 7.500000 % 465.30
B-3 372,446.48 372,446.48 7.500000 % 1,087.86
- -------------------------------------------------------------------------------
106,172,633.28 106,172,633.28 723,914.48
===============================================================================
_______________________________________________________________________________
REMAINING
INTEREST TOTAL DEFERRED REALIZED PRINCIPAL
DISTRIBUTION DISTRIBUTION INTEREST LOSSES BALANCE
_______________________________________________________________________________
A-1 268,101.28 913,724.48 0.00 0.00 42,300,376.80
A-2 97,905.10 97,905.10 0.00 0.00 15,683,000.00
A-3 117,026.65 117,026.65 0.00 0.00 18,746,000.00
A-4 12,772.67 12,772.67 0.00 0.00 2,046,000.00
A-5 132,827.06 194,966.00 0.00 0.00 21,214,861.06
A-6 0.00 543.80 0.00 0.00 164,443.00
A-7 65,521.82 65,521.82 0.00 0.00 0.00
R 0.63 100.63 0.00 0.00 0.00
M-1 16,570.76 24,323.94 0.00 0.00 2,646,646.82
M-2 6,627.94 9,729.04 0.00 0.00 1,058,598.90
M-3 4,308.13 6,323.83 0.00 0.00 688,084.30
B-1 2,319.81 3,405.21 0.00 0.00 370,514.60
B-2 994.48 1,459.78 0.00 0.00 158,834.70
B-3 2,325.09 3,412.95 0.00 0.00 371,358.62
- -------------------------------------------------------------------------------
727,301.42 1,451,215.90 0.00 0.00 105,448,718.80
===============================================================================
_______________________________________________________________________________
AMOUNTS PER $1,000 UNIT
_______________________________________________________________________________
BEGINNING ENDING
BALANCE PRINCIPAL INTEREST TOTAL DEFERRED BALANCE
CLASS FACTOR FACTOR FACTOR DISTRIBUTION INTEREST FACTOR
_______________________________________________________________________________
A-1 1000.000000 15.033372 6.242753 21.276125 0.000000 984.966628
A-2 1000.000000 0.000000 6.242753 6.242753 0.000000 1000.000000
A-3 1000.000000 0.000000 6.242753 6.242753 0.000000 1000.000000
A-4 1000.000000 0.000000 6.242752 6.242752 0.000000 1000.000000
A-5 1000.000000 2.920475 6.242753 9.163228 0.000000 997.079525
A-6 1000.000000 3.296021 0.000000 3.296021 0.000000 996.703979
R 1000.000000 1000.00000 6.300000 1006.300000 0.000000 0.000000
M-1 1000.000000 2.920879 6.242752 9.163631 0.000000 997.079122
M-2 1000.000000 2.920882 6.242762 9.163644 0.000000 997.079118
M-3 1000.000000 2.920881 6.242762 9.163643 0.000000 997.079119
B-1 1000.000000 2.920883 6.242761 9.163644 0.000000 997.079117
B-2 1000.000000 2.920904 6.242812 9.163716 0.000000 997.079096
B-3 1000.000000 2.920876 6.242749 9.163625 0.000000 997.079151
_______________________________________________________________________________
DETERMINATION DATE 21-July-97
DISTRIBUTION DATE 25-July-97
Run: 07/23/97 15:35:31 rept2.frg
Page: 2 of 2
RESIDENTIAL FUNDING CORPORATION (MASTER SERVICER)
RESIDENTIAL ACCREDIT LOANS, INC. (COMPANY)
MORTGAGE PASS-THROUGH CERTIFICATES 1997-QS6 (POOL # 4249)
STATEMENT TO CERTIFICATEHOLDERS
ADDITIONAL RELATED INFORMATION FOR POOL 4249
_______________________________________________________________________________
SERVICING COMPENSATION RECEIVED BY SUB-SERVICER 22,158.79
SERVICING COMPENSATION RECEIVED BY MASTER SERVICER 7,374.21
SUBSERVICER ADVANCES THIS MONTH 3,167.67
MASTER SERVICER ADVANCES THIS MONTH 0.00
NUMBER OF PRINCIPAL
DELINQUENCIES: LOANS BALANCE
(A) ONE MONTHLY PAYMENT: 4 323,009.41
(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 105,448,718.80
AGGREGATE NUMBER OF LOANS IN THE POOL AS OF THE
DETERMINATION DATE 1,277
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 413,741.67
TOTAL REPURCHASES INCLUDED IN THIS DISTRIBUTION 0.00
DISTRIBUTION PERCENTAGES:
SENIOR CLASS M CLASS B
CURRENT DISTRIBUTION 94.99135520 % 4.15649300 % 0.85215220 %
PREPAYMENT PERCENT 100.00000000 % 0.00000000 % 0.00000000 %
NEXT DISTRIBUTION 94.97167270 % 4.16631901 % 0.85550090 %
BANKRUPTCY AMOUNT AVAILABLE 154,147.00
FRAUD AMOUNT AVAILABLE 2,123,453.00
SPECIAL HAZARD AMOUNT AVAILABLE 1,894,825.00
ENDING GROSS WEIGHTED AVERAGE INTEREST RATE 8.55861180
ENDING WEIGHTED AVERAGE MATURITY, IN MONTHS 173.55
POOL TRADING FACTOR: 99.31817225
................................................................................
