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)
May 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 May 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
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: May 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 76,434,680.16 6.900000 % 5,278,326.44
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
- -------------------------------------------------------------------------------
258,459,514.42 200,219,815.79 5,278,326.44
===============================================================================
_______________________________________________________________________________
REMAINING
INTEREST TOTAL DEFERRED REALIZED PRINCIPAL
DISTRIBUTION DISTRIBUTION INTEREST LOSSES BALANCE
_______________________________________________________________________________
A-1 0.00 0.00 0.00 0.00 0.00
A-2 435,605.96 5,713,932.40 0.00 0.00 71,156,353.72
A-3 134,155.09 134,155.09 0.00 0.00 22,250,000.00
A-4 284,953.09 284,953.09 0.00 0.00 46,000,000.00
A-5 136,901.37 136,901.37 0.00 0.00 22,100,000.00
A-6 192,708.82 192,708.82 0.00 0.00 31,109,000.00
R 168,363.89 168,363.89 0.00 0.00 2,286,313.66
- -------------------------------------------------------------------------------
1,352,688.22 6,631,014.66 0.00 0.00 194,901,667.38
===============================================================================
_______________________________________________________________________________
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-2 926.480972 63.979714 5.280072 69.259786 0.000000 862.501257
A-3 1000.000000 0.000000 6.029442 6.029442 0.000000 1000.000000
A-4 1000.000000 0.000000 6.194632 6.194632 0.000000 1000.000000
A-5 1000.000000 0.000000 6.194632 6.194632 0.000000 1000.000000
A-6 1000.000000 0.000000 6.194632 6.194632 0.000000 1000.000000
_______________________________________________________________________________
DETERMINATION DATE 20-May-97
DISTRIBUTION DATE 27-May-97
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RESIDENTIAL FUNDING CORPORATION (MASTER SERVICER)
RESIDENTIAL ACCREDIT LOANS, INC. (COMPANY)
MORTGAGE PASS-THROUGH CERTIFICATES 1995-QS1 (POOL # 4180)
STATEMENT TO CERTIFICATEHOLDERS
ADDITIONAL RELATED INFORMATION FOR POOL 4180
_______________________________________________________________________________
SERVICING COMPENSATION RECEIVED BY SUB-SERVICER 40,771.56
SERVICING COMPENSATION RECEIVED BY MASTER SERVICER 981.87
SUBSERVICER ADVANCES THIS MONTH 91,732.41
MASTER SERVICER ADVANCES THIS MONTH 5,623.28
NUMBER OF PRINCIPAL
DELINQUENCIES: LOANS BALANCE
(A) ONE MONTHLY PAYMENT: 45 5,908,090.34
(B) TWO MONTHLY PAYMENTS: 19 2,472,903.48
(C) THREE OR MORE MONTHLY PAYMENTS: 1 67,645.85
FORECLOSURES
NUMBER OF LOANS 17
AGGREGATE PRINCIPAL BALANCE 2,754,261.65
SCHEDULED PRINCIPAL BALANCE OF MORTGAGE LOANS AFTER
DISTRIBUTION 194,901,667.38
AGGREGATE NUMBER OF LOANS IN THE POOL AS OF THE
DETERMINATION DATE 2,081
NUMBER OF REO LOANS ACQUIRED
INCLUDING ANY PENDING CASH LIQUIDATIONS 4
BOOK VALUE OF REAL ESTATE ACQUIRED THROUGH
FORECLOSURE OR GRANT OF A DEED IN LIEU OF
FORECLOSURE, INCLUDING ANY PENDING CASH LIQUIDATIONS 690,057.12
REMAINING SUBCLASS INTEREST SHORTFALL 0.00
CLASS A SHORTFALL (PRINCIPAL) 0.00
CLASS A SHORTFALL (INTEREST) 0.00
TOTAL PREPAYMENTS INCLUDED IN THIS DISTRIBUTION 4,659,438.39
TOTAL REPURCHASES INCLUDED IN THIS DISTRIBUTION 0.00
DISTRIBUTION PERCENTAGES:
SENIOR SUBORDINATE
PERCENTAGE FOR CURRENT DISTRIBUTION 98.83820910 % 1.16179090 %
CURRENT PREPAYMENT PERCENTAGE 100.00000000 % 0.00000000 %
PERCENTAGE FOR NEXT DISTRIBUTION 98.82693990 % 1.17306010 %
BANKRUPTCY AMOUNT AVAILABLE 0.00
FRAUD AMOUNT AVAILABLE 0.00
SPECIAL HAZARD AMOUNT AVAILABLE 0.00
ENDING GROSS WEIGHTED AVERAGE INTEREST RATE 9.32932459
ENDING WEIGHTED AVERAGE MATURITY, IN MONTHS 312.07
POOL TRADING FACTOR: 75.40897375
................................................................................
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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 7,630,561.20 6.000000 % 3,342,637.41
A-I- 76110FAH6 67,186,000.00 67,186,000.00 6.250000 % 0.00
A-I- 76110FAJ2 22,562,000.00 22,562,000.00 6.750000 % 0.00
A-I- 76110FAK9 31,852,000.00 31,852,000.00 6.900000 % 0.00
A-I- 76110FAL7 14,535,000.00 14,535,000.00 7.050000 % 0.00
A-I- 76110FAM5 18,417,136.00 18,417,136.00 7.250000 % 0.00
A-I- 76110FAN3 20,000,000.00 20,000,000.00 6.700000 % 0.00
A-II 76110FAQ6 29,374,968.00 17,828,596.98 6.090000 % 460,785.21
R 0.53 2,026,594.48 0.000000 % 0.00
- -------------------------------------------------------------------------------
255,942,104.53 202,037,888.66 3,803,422.62
===============================================================================
_______________________________________________________________________________
REMAINING
INTEREST TOTAL DEFERRED REALIZED PRINCIPAL
DISTRIBUTION DISTRIBUTION INTEREST LOSSES BALANCE
_______________________________________________________________________________
A-I-1 38,152.81 3,380,790.22 0.00 0.00 4,287,923.79
A-I-2 349,927.08 349,927.08 0.00 0.00 67,186,000.00
A-I-3 126,911.25 126,911.25 0.00 0.00 22,562,000.00
A-I-4 183,149.00 183,149.00 0.00 0.00 31,852,000.00
A-I-5 85,393.13 85,393.13 0.00 0.00 14,535,000.00
A-I-6 111,270.20 111,270.20 0.00 0.00 18,417,136.00
A-I-7 111,666.67 111,666.67 0.00 0.00 20,000,000.00
A-II 90,480.13 551,265.34 0.00 0.00 17,367,811.77
R 355,028.63 355,028.63 0.00 0.00 2,026,594.48
- -------------------------------------------------------------------------------
1,451,978.90 5,255,401.52 0.00 0.00 198,234,466.04
===============================================================================
_______________________________________________________________________________
AMOUNTS PER $1,000 UNIT
_______________________________________________________________________________
BEGINNING ENDING
BALANCE PRINCIPAL INTEREST TOTAL DEFERRED BALANCE
CLASS FACTOR FACTOR FACTOR DISTRIBUTION INTEREST FACTOR
_______________________________________________________________________________
A-I- 146.699244 64.262951 0.733496 64.996447 0.000000 82.436293
A-I- 1000.000000 0.000000 5.208333 5.208333 0.000000 1000.000000
A-I- 1000.000000 0.000000 5.625000 5.625000 0.000000 1000.000000
A-I- 1000.000000 0.000000 5.750000 5.750000 0.000000 1000.000000
A-I- 1000.000000 0.000000 5.875000 5.875000 0.000000 1000.000000
A-I- 1000.000000 0.000000 6.041667 6.041667 0.000000 1000.000000
A-I- 1000.000000 0.000000 5.583334 5.583334 0.000000 1000.000000
A-II 606.931622 15.686322 3.080178 18.766500 0.000000 591.245300
_______________________________________________________________________________
DETERMINATION DATE 20-May-97
DISTRIBUTION DATE 27-May-97
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Page: 2 of 2
RESIDENTIAL FUNDING CORPORATION (MASTER SERVICER)
RESIDENTIAL ACCREDIT LOANS, INC. (COMPANY)
MORTGAGE PASS-THROUGH CERTIFICATES 1996-QS1 (POOL # 4194)
STATEMENT TO CERTIFICATEHOLDERS
ADDITIONAL RELATED INFORMATION FOR POOL 4194
_______________________________________________________________________________
SERVICING COMPENSATION RECEIVED BY SUB-SERVICER 43,267.77
SERVICING COMPENSATION RECEIVED BY MASTER SERVICER 0.00
SUBSERVICER ADVANCES THIS MONTH 72,038.01
MASTER SERVICER ADVANCES THIS MONTH 2,980.65
NUMBER OF PRINCIPAL
DELINQUENCIES: LOANS BALANCE
(A) ONE MONTHLY PAYMENT: 24 3,775,518.84
(B) TWO MONTHLY PAYMENTS: 5 472,298.84
(C) THREE OR MORE MONTHLY PAYMENTS: 5 867,010.92
FORECLOSURES
NUMBER OF LOANS 18
AGGREGATE PRINCIPAL BALANCE 4,095,796.33
SCHEDULED PRINCIPAL BALANCE OF MORTGAGE LOANS AFTER
DISTRIBUTION 198,234,466.04
AGGREGATE NUMBER OF LOANS IN THE POOL AS OF THE
DETERMINATION DATE 1,614
NUMBER OF REO LOANS ACQUIRED
INCLUDING ANY PENDING CASH LIQUIDATIONS 2
BOOK VALUE OF REAL ESTATE ACQUIRED THROUGH
FORECLOSURE OR GRANT OF A DEED IN LIEU OF
FORECLOSURE, INCLUDING ANY PENDING CASH LIQUIDATIONS 342,424.73
REMAINING SUBCLASS INTEREST SHORTFALL 0.00
CLASS A SHORTFALL (PRINCIPAL) 0.00
CLASS A SHORTFALL (INTEREST) 0.00
TOTAL PREPAYMENTS INCLUDED IN THIS DISTRIBUTION 3,458,449.36
TOTAL REPURCHASES INCLUDED IN THIS DISTRIBUTION 169,420.53
DISTRIBUTION PERCENTAGES:
SENIOR SUBORDINATE
PERCENTAGE FOR CURRENT DISTRIBUTION 98.99692360 % 1.00307650 %
CURRENT PREPAYMENT PERCENTAGE 100.00000000 % 0.00000000 %
PERCENTAGE FOR NEXT DISTRIBUTION 98.97767800 % 1.02232200 %
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 8.98211600
ENDING WEIGHTED AVERAGE MATURITY, IN MONTHS 321.87
POOL TRADING FACTOR: 77.45285458
................................................................................
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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 19,355,232.97 6.400000 % 2,957,246.28
A-2 76110FAT0 16,000,000.00 16,000,000.00 7.000000 % 0.00
A-3 76110FAU7 28,500,000.00 28,500,000.00 7.050000 % 0.00
A-4 76110FAV5 15,000,000.00 15,000,000.00 7.050000 % 0.00
A-5 76110FAW3 14,000,000.00 14,000,000.00 7.350000 % 0.00
A-6 76110FAX1 10,000,000.00 10,000,000.00 7.450000 % 0.00
A-7 76110FAY9 26,000,000.00 26,000,000.00 7.250000 % 0.00
A-8 76110FAZ6 14,043,411.00 14,043,411.00 7.500000 % 0.00
A-9 76110FBA0 18,190,000.00 18,190,000.00 7.500000 % 0.00
A-10 76110FBB8 178,007.00 174,370.02 0.000000 % 224.38
R 0.00 1,819,114.18 0.000000 % 0.00
- -------------------------------------------------------------------------------
181,911,418.00 163,082,128.17 2,957,470.66
===============================================================================
_______________________________________________________________________________
REMAINING
INTEREST TOTAL DEFERRED REALIZED PRINCIPAL
DISTRIBUTION DISTRIBUTION INTEREST LOSSES BALANCE
_______________________________________________________________________________
A-1 103,041.51 3,060,287.79 0.00 0.00 16,397,986.69
A-2 93,164.80 93,164.80 0.00 0.00 16,000,000.00
A-3 167,135.16 167,135.16 0.00 0.00 28,500,000.00
A-4 87,965.87 87,965.87 0.00 0.00 15,000,000.00
A-5 85,595.16 85,595.16 0.00 0.00 14,000,000.00
A-6 61,971.23 61,971.23 0.00 0.00 10,000,000.00
A-7 156,799.69 156,799.69 0.00 0.00 26,000,000.00
A-8 87,612.83 87,612.83 0.00 0.00 14,043,411.00
A-9 113,482.22 113,482.22 0.00 0.00 18,190,000.00
A-10 0.00 224.38 0.00 0.00 174,145.64
R 61,695.00 61,695.00 117,828.17 0.00 1,936,942.35
- -------------------------------------------------------------------------------
1,018,463.47 3,975,934.13 117,828.17 0.00 160,242,485.68
===============================================================================
_______________________________________________________________________________
AMOUNTS PER $1,000 UNIT
_______________________________________________________________________________
BEGINNING ENDING
BALANCE PRINCIPAL INTEREST TOTAL DEFERRED BALANCE
CLASS FACTOR FACTOR FACTOR DISTRIBUTION INTEREST FACTOR
_______________________________________________________________________________
A-1 483.880824 73.931157 2.576038 76.507195 0.000000 409.949667
A-2 1000.000000 0.000000 5.822800 5.822800 0.000000 1000.000000
A-3 1000.000000 0.000000 5.864392 5.864392 0.000000 1000.000000
A-4 1000.000000 0.000000 5.864391 5.864391 0.000000 1000.000000
A-5 1000.000000 0.000000 6.113940 6.113940 0.000000 1000.000000
A-6 1000.000000 0.000000 6.197123 6.197123 0.000000 1000.000000
A-7 1000.000000 0.000000 6.030757 6.030757 0.000000 1000.000000
A-8 1000.000000 0.000000 6.238714 6.238714 0.000000 1000.000000
A-9 1000.000000 0.000000 6.238715 6.238715 0.000000 1000.000000
A-10 979.568332 1.260512 0.000000 1.260512 0.000000 978.307819
_______________________________________________________________________________
DETERMINATION DATE 20-May-97
DISTRIBUTION DATE 27-May-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 33,768.87
SERVICING COMPENSATION RECEIVED BY MASTER SERVICER 0.00
SUBSERVICER ADVANCES THIS MONTH 39,213.57
MASTER SERVICER ADVANCES THIS MONTH 1,205.47
NUMBER OF PRINCIPAL
DELINQUENCIES: LOANS BALANCE
(A) ONE MONTHLY PAYMENT: 21 2,216,184.28
(B) TWO MONTHLY PAYMENTS: 0 0.00
(C) THREE OR MORE MONTHLY PAYMENTS: 4 585,878.16
FORECLOSURES
NUMBER OF LOANS 11
AGGREGATE PRINCIPAL BALANCE 2,274,334.22
SCHEDULED PRINCIPAL BALANCE OF MORTGAGE LOANS AFTER
DISTRIBUTION 160,242,485.68
AGGREGATE NUMBER OF LOANS IN THE POOL AS OF THE
DETERMINATION DATE 1,502
NUMBER OF REO LOANS ACQUIRED
INCLUDING ANY PENDING CASH LIQUIDATIONS 2
BOOK VALUE OF REAL ESTATE ACQUIRED THROUGH
FORECLOSURE OR GRANT OF A DEED IN LIEU OF
FORECLOSURE, INCLUDING ANY PENDING CASH LIQUIDATIONS 153,869.01
REMAINING SUBCLASS INTEREST SHORTFALL 0.00
CLASS A SHORTFALL (PRINCIPAL) 0.00
CLASS A SHORTFALL (INTEREST) 0.00
TOTAL PREPAYMENTS INCLUDED IN THIS DISTRIBUTION 2,699,201.50
TOTAL REPURCHASES INCLUDED IN THIS DISTRIBUTION 0.00
DISTRIBUTION PERCENTAGES:
SENIOR SUBORDINATE
PERCENTAGE FOR CURRENT DISTRIBUTION 98.88454110 % 1.11545890 %
CURRENT PREPAYMENT PERCENTAGE 100.00000000 % 0.00000000 %
PERCENTAGE FOR NEXT DISTRIBUTION 98.79124290 % 1.20875710 %
BANKRUPTCY AMOUNT AVAILABLE 0.00
FRAUD AMOUNT AVAILABLE 0.00
SPECIAL HAZARD AMOUNT AVAILABLE 0.00
ENDING GROSS WEIGHTED AVERAGE INTEREST RATE 8.78535449
ENDING WEIGHTED AVERAGE MATURITY, IN MONTHS 326.91
POOL TRADING FACTOR: 88.08819559
................................................................................
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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 24,043,564.24 6.780000 % 2,533,384.01
A-I- 76110FBD4 26,000,000.00 26,000,000.00 7.150000 % 0.00
A-I- 76110FBE2 10,596,000.00 10,596,000.00 7.290000 % 0.00
A-I- 76110FBF9 25,000,000.00 22,366,267.30 7.250000 % 354,691.50
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 18,802,363.55 7.750000 % 77,253.47
A-P 76110FBQ5 1,166,695.86 1,111,519.53 0.000000 % 2,003.73
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 12,414,260.29 7.750000 % 10,615.71
M-2 76110FBU6 5,568,000.00 5,517,228.82 7.750000 % 4,717.91
M-3 76110FBV4 4,176,000.00 4,137,921.62 7.750000 % 3,538.43
B-1 1,809,600.00 1,793,099.37 7.750000 % 1,533.32
B-2 696,000.00 689,653.60 7.750000 % 589.74
B-3 1,670,738.96 1,655,504.47 7.750000 % 1,415.66
SPRE 0.00 0.00 0.733801 % 0.00
STRI 0.00 0.00 0.000000 % 0.00
- -------------------------------------------------------------------------------
278,404,734.82 254,913,944.79 2,989,743.48
===============================================================================
_______________________________________________________________________________
REMAINING
INTEREST TOTAL DEFERRED REALIZED PRINCIPAL
DISTRIBUTION DISTRIBUTION INTEREST LOSSES BALANCE
_______________________________________________________________________________
A-I-1 135,802.22 2,669,186.23 0.00 0.00 21,510,180.23
A-I-2 154,866.59 154,866.59 0.00 0.00 26,000,000.00
A-I-3 64,349.89 64,349.89 0.00 0.00 10,596,000.00
A-I-4 135,085.84 489,777.34 0.00 0.00 22,011,575.80
A-I-5 115,511.82 115,511.82 0.00 0.00 18,587,000.00
A-I-6 140,074.70 140,074.70 0.00 0.00 21,696,000.00
A-I-7 51,953.41 51,953.41 0.00 0.00 8,047,000.00
A-I-8 112,571.10 112,571.10 0.00 0.00 17,436,000.00
A-I-9 162,342.29 162,342.29 0.00 0.00 25,145,000.00
A-I-10 122,668.66 122,668.66 0.00 0.00 19,000,000.00
A-I-11 102,496.52 102,496.52 0.00 0.00 15,875,562.00
A-II 121,392.67 198,646.14 0.00 0.00 18,725,110.08
A-P 0.00 2,003.73 0.00 0.00 1,109,515.80
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 80,149.51 90,765.22 0.00 0.00 12,403,644.58
M-2 35,620.58 40,338.49 0.00 0.00 5,512,510.91
M-3 26,715.44 30,253.87 0.00 0.00 4,134,383.19
B-1 11,576.69 13,110.01 0.00 0.00 1,791,566.05
B-2 4,452.57 5,042.31 0.00 0.00 689,063.86
B-3 10,688.34 12,104.00 0.00 0.00 1,654,088.81
SPRED 155,829.73 155,829.73 0.00 0.00 0.00
STRIP 50,291.89 50,291.89 0.00 0.00 0.00
- -------------------------------------------------------------------------------
1,794,440.46 4,784,183.94 0.00 0.00 251,924,201.31
===============================================================================
Run: 05/27/97 12:00:11
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RESIDENTIAL FUNDING CORPORATION (MASTER SERVICER)
RESIDENTIAL ACCREDIT LOANS, INC. (COMPANY)
MORTGAGE ASSET-BACKED PASS-THROUGH CERTIFICATES SERIES 1996-QS3 (POOL # 4211)
STATEMENT TO CERTIFICATEHOLDERS
DISTRIBUTION SUMMARY FOR POOL# 4211
_______________________________________________________________________________
AMOUNTS PER $1,000 UNIT
_______________________________________________________________________________
BEGINNING ENDING
BALANCE PRINCIPAL INTEREST TOTAL DEFERRED BALANCE
CLASS FACTOR FACTOR FACTOR DISTRIBUTION INTEREST FACTOR
_______________________________________________________________________________
A-I- 561.044551 59.115249 3.168877 62.284126 0.000000 501.929302
A-I- 1000.000000 0.000000 5.956407 5.956407 0.000000 1000.000000
A-I- 1000.000000 0.000000 6.073036 6.073036 0.000000 1000.000000
A-I- 894.650692 14.187660 5.403434 19.591094 0.000000 880.463032
A-I- 1000.000000 0.000000 6.214656 6.214656 0.000000 1000.000000
A-I- 1000.000000 0.000000 6.456245 6.456245 0.000000 1000.000000
A-I- 1000.000000 0.000000 6.456246 6.456246 0.000000 1000.000000
A-I- 1000.000000 0.000000 6.456246 6.456246 0.000000 1000.000000
A-I- 1000.000000 0.000000 6.456245 6.456245 0.000000 1000.000000
A-I- 1000.000000 0.000000 6.456245 6.456245 0.000000 1000.000000
A-I- 1000.000000 0.000000 6.456245 6.456245 0.000000 1000.000000
A-II 914.892844 3.759030 5.906773 9.665803 0.000000 911.133814
A-P 952.707186 1.717441 0.000000 1.717441 0.000000 950.989745
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-1 990.881613 0.847325 6.397375 7.244700 0.000000 990.034288
M-2 990.881613 0.847326 6.397374 7.244700 0.000000 990.034287
M-3 990.881614 0.847325 6.397375 7.244700 0.000000 990.034289
B-1 990.881615 0.847325 6.397375 7.244700 0.000000 990.034289
B-2 990.881609 0.847328 6.397371 7.244699 0.000000 990.034282
B-3 990.881586 0.847326 6.397373 7.244699 0.000000 990.034261
_______________________________________________________________________________
DETERMINATION DATE 20-May-97
DISTRIBUTION DATE 27-May-97
Run: 05/27/97 12:00:12 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 53,210.39
SERVICING COMPENSATION RECEIVED BY MASTER SERVICER 5,880.65
SUBSERVICER ADVANCES THIS MONTH 51,285.96
MASTER SERVICER ADVANCES THIS MONTH 0.00
NUMBER OF PRINCIPAL
DELINQUENCIES: LOANS BALANCE
(A) ONE MONTHLY PAYMENT: 32 4,668,630.47
(B) TWO MONTHLY PAYMENTS: 2 309,123.50
(C) THREE OR MORE MONTHLY PAYMENTS: 1 209,057.86
FORECLOSURES
NUMBER OF LOANS 9
AGGREGATE PRINCIPAL BALANCE 1,284,593.08
SCHEDULED PRINCIPAL BALANCE OF MORTGAGE LOANS AFTER
DISTRIBUTION 251,924,201.31
AGGREGATE NUMBER OF LOANS IN THE POOL AS OF THE
DETERMINATION DATE 2,254
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 2,770,091.07
TOTAL REPURCHASES INCLUDED IN THIS DISTRIBUTION 0.00
DISTRIBUTION PERCENTAGES:
SENIOR CLASS M CLASS B
CURRENT DISTRIBUTION 89.28297640 % 8.65759300 % 1.62339390 %
PREPAYMENT PERCENT 89.51977360 % 0.00000000 % 10.48022640 %
NEXT DISTRIBUTION 89.55991860 % 8.75284652 % 1.64851540 %
BANKRUPTCY AMOUNT AVAILABLE 170,419.00
FRAUD AMOUNT AVAILABLE 5,568,095.00
SPECIAL HAZARD AMOUNT AVAILABLE 2,784,047.00
ENDING GROSS WEIGHTED AVERAGE INTEREST RATE 8.77798000
ENDING WEIGHTED AVERAGE MATURITY, IN MONTHS 327.98
POOL TRADING FACTOR: 90.48847588
................................................................................
Run: 05/27/97 12:00:13 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 30,791,771.36 6.850000 % 2,088,670.56
A-I- 76110FBX0 26,945,000.00 21,400,226.75 11.000000 % 765,839.81
A-I- 76110FBY8 15,646,000.00 15,646,000.00 7.300000 % 0.00
A-I- 76110FBZ5 32,740,000.00 32,740,000.00 7.500000 % 0.00
A-I- 76110FCA9 10,023,000.00 10,023,000.00 7.700000 % 0.00
A-I- 76110FCB7 26,811,000.00 26,811,000.00 8.000000 % 0.00
A-I- 76110FCC5 18,046,000.00 18,046,000.00 8.000000 % 0.00
A-I- 76110FCD3 9,094,000.00 9,094,000.00 8.000000 % 0.00
A-I- 76110FCE1 10,284,000.00 10,284,000.00 8.000000 % 0.00
A-I- 76110FCF8 27,538,000.00 27,538,000.00 7.900000 % 0.00
A-II 76110FCG6 16,021,000.00 14,762,025.45 7.250000 % 295,661.52
A-II 76110FCH4 8,580,000.00 8,580,000.00 7.650000 % 0.00
A-P 76110FCJ0 3,039,637.99 2,927,213.52 0.000000 % 38,782.93
A-V 76110FGN7 0.00 0.00 0.774336 % 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 13,132,624.40 8.000000 % 12,340.35
M-2 76110FCN1 5,570,800.00 5,529,588.74 8.000000 % 5,196.00
M-3 76110FCP6 4,456,600.00 4,423,631.30 8.000000 % 4,156.76
B-1 76110FCR2 2,228,400.00 2,211,914.91 8.000000 % 2,078.47
B-2 76110FCS0 696,400.00 691,248.23 8.000000 % 649.55
B-3 76110FCT8 1,671,255.97 1,658,892.47 8.000000 % 1,558.77
STRI 0.00 0.00 0.113743 % 0.00
- -------------------------------------------------------------------------------
278,535,793.96 256,291,137.13 3,214,934.72
===============================================================================
_______________________________________________________________________________
REMAINING
INTEREST TOTAL DEFERRED REALIZED PRINCIPAL
DISTRIBUTION DISTRIBUTION INTEREST LOSSES BALANCE
_______________________________________________________________________________
A-I-1 175,695.54 2,264,366.10 0.00 0.00 28,703,100.80
A-I-2 196,085.99 961,925.80 0.00 0.00 20,634,386.94
A-I-3 95,139.68 95,139.68 0.00 0.00 15,646,000.00
A-I-4 204,538.67 204,538.67 0.00 0.00 32,740,000.00
A-I-5 64,287.12 64,287.12 0.00 0.00 10,023,000.00
A-I-6 178,664.59 178,664.59 0.00 0.00 26,811,000.00
A-I-7 120,255.92 120,255.92 0.00 0.00 18,046,000.00
A-I-8 60,601.09 60,601.09 0.00 0.00 9,094,000.00
A-I-9 68,531.08 68,531.08 0.00 0.00 10,284,000.00
A-I-10 181,215.35 181,215.35 0.00 0.00 27,538,000.00
A-II-1 89,149.61 384,811.13 0.00 0.00 14,466,363.93
A-II-2 54,674.42 54,674.42 0.00 0.00 8,580,000.00
A-P 0.00 38,782.93 0.00 0.00 2,888,430.59
A-V 165,309.76 165,309.76 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 87,513.89 99,854.24 0.00 0.00 13,120,284.05
M-2 36,848.37 42,044.37 0.00 0.00 5,524,392.74
M-3 29,478.44 33,635.20 0.00 0.00 4,419,474.54
B-1 14,739.88 16,818.35 0.00 0.00 2,209,836.44
B-2 4,606.38 5,255.93 0.00 0.00 690,598.68
B-3 11,054.61 12,613.38 0.00 0.00 1,657,333.67
STRIP 15,299.61 15,299.61 0.00 0.00 0.00
- -------------------------------------------------------------------------------
1,853,690.00 5,068,624.72 0.00 0.00 253,076,202.38
===============================================================================
Run: 05/27/97 12:00:13
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- 670.640139 45.490930 3.826622 49.317552 0.000000 625.149209
A-I- 794.218844 28.422335 7.277268 35.699603 0.000000 765.796509
A-I- 1000.000000 0.000000 6.080767 6.080767 0.000000 1000.000000
A-I- 1000.000000 0.000000 6.247363 6.247363 0.000000 1000.000000
A-I- 1000.000000 0.000000 6.413960 6.413960 0.000000 1000.000000
A-I- 1000.000000 0.000000 6.663854 6.663854 0.000000 1000.000000
A-I- 1000.000000 0.000000 6.663855 6.663855 0.000000 1000.000000
A-I- 1000.000000 0.000000 6.663854 6.663854 0.000000 1000.000000
A-I- 1000.000000 0.000000 6.663855 6.663855 0.000000 1000.000000
A-I- 1000.000000 0.000000 6.580556 6.580556 0.000000 1000.000000
A-II 921.417231 18.454623 5.564547 24.019170 0.000000 902.962607
A-II 1000.000000 0.000000 6.372310 6.372310 0.000000 1000.000000
A-P 963.013862 12.759061 0.000000 12.759061 0.000000 950.254801
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-1 992.602275 0.932720 6.614557 7.547277 0.000000 991.669555
M-2 992.602273 0.932721 6.614556 7.547277 0.000000 991.669552
M-3 992.602275 0.932720 6.614558 7.547278 0.000000 991.669555
B-1 992.602275 0.932719 6.614558 7.547277 0.000000 991.669557
B-2 992.602283 0.932725 6.614561 7.547286 0.000000 991.669558
B-3 992.602270 0.932694 6.614552 7.547246 0.000000 991.669557
_______________________________________________________________________________
DETERMINATION DATE 20-May-97
DISTRIBUTION DATE 27-May-97
Run: 05/27/97 12:00:13 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 53,113.44
SERVICING COMPENSATION RECEIVED BY MASTER SERVICER 3,699.58
SUBSERVICER ADVANCES THIS MONTH 58,081.08
MASTER SERVICER ADVANCES THIS MONTH 1,148.38
NUMBER OF PRINCIPAL
DELINQUENCIES: LOANS BALANCE
(A) ONE MONTHLY PAYMENT: 48 4,413,319.07
(B) TWO MONTHLY PAYMENTS: 11 1,068,970.38
(C) THREE OR MORE MONTHLY PAYMENTS: 2 312,848.07
FORECLOSURES
NUMBER OF LOANS 10
AGGREGATE PRINCIPAL BALANCE 1,367,857.33
SCHEDULED PRINCIPAL BALANCE OF MORTGAGE LOANS AFTER
DISTRIBUTION 253,076,202.38
AGGREGATE NUMBER OF LOANS IN THE POOL AS OF THE
DETERMINATION DATE 2,463
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 138,834.06
REMAINING SUBCLASS INTEREST SHORTFALL 0.00
CLASS A SHORTFALL (PRINCIPAL) 0.00
CLASS A SHORTFALL (INTEREST) 0.00
TOTAL PREPAYMENTS INCLUDED IN THIS DISTRIBUTION 2,969,799.37
TOTAL REPURCHASES INCLUDED IN THIS DISTRIBUTION 0.00
DISTRIBUTION PERCENTAGES:
SENIOR CLASS M CLASS B
CURRENT DISTRIBUTION 88.07016350 % 9.00766400 % 1.78002860 %
PREPAYMENT PERCENT 100.00000000 % 0.00000000 % 0.00000000 %
NEXT DISTRIBUTION 88.95952430 % 9.11352040 % 1.82173920 %
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 9.00984300
ENDING WEIGHTED AVERAGE MATURITY, IN MONTHS 320.02
POOL TRADING FACTOR: 90.85949019
................................................................................
Run: 05/27/97 11:59:44 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 138,145,180.00 116,795,003.24 6.047500 % 3,095,738.38
R 973,833.13 2,307,116.19 0.000000 % 0.00
- -------------------------------------------------------------------------------
139,119,013.13 119,102,119.43 3,095,738.38
===============================================================================
_______________________________________________________________________________
REMAINING
INTEREST TOTAL DEFERRED REALIZED PRINCIPAL
DISTRIBUTION DISTRIBUTION INTEREST LOSSES BALANCE
_______________________________________________________________________________
A 627,606.45 3,723,344.83 0.00 0.00 113,699,264.86
R 0.00 0.00 110,639.37 0.00 2,417,755.56
- -------------------------------------------------------------------------------
627,606.45 3,723,344.83 110,639.37 0.00 116,117,020.42
===============================================================================
_______________________________________________________________________________
AMOUNTS PER $1,000 UNIT
_______________________________________________________________________________
BEGINNING ENDING
BALANCE PRINCIPAL INTEREST TOTAL DEFERRED BALANCE
CLASS FACTOR FACTOR FACTOR DISTRIBUTION INTEREST FACTOR
_______________________________________________________________________________
A 845.451164 22.409312 4.543093 26.952405 0.000000 823.041853
R 2369.108340 0.000000 0.000000 0.000000 113.612247 2482.720587
_______________________________________________________________________________
DETERMINATION DATE 20-May-97
DISTRIBUTION DATE 27-May-97
Run: 05/27/97 11:59:44 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 36,114.87
SERVICING COMPENSATION RECEIVED BY MASTER SERVICER 1,141.15
SUBSERVICER ADVANCES THIS MONTH 30,029.70
MASTER SERVICER ADVANCES THIS MONTH 0.00
NUMBER OF PRINCIPAL
DELINQUENCIES: LOANS BALANCE
(A) ONE MONTHLY PAYMENT: 14 2,547,121.44
(B) TWO MONTHLY PAYMENTS: 0 0.00
(C) THREE OR MORE MONTHLY PAYMENTS: 1 118,696.91
FORECLOSURES
NUMBER OF LOANS 5
AGGREGATE PRINCIPAL BALANCE 1,500,051.77
SCHEDULED PRINCIPAL BALANCE OF MORTGAGE LOANS AFTER
DISTRIBUTION 116,117,020.42
AGGREGATE NUMBER OF LOANS IN THE POOL AS OF THE
DETERMINATION DATE 1,116
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 2,817,131.35
TOTAL REPURCHASES INCLUDED IN THIS DISTRIBUTION 0.00
DISTRIBUTION PERCENTAGES:
SENIOR SUBORDINATE
PERCENTAGE FOR CURRENT DISTRIBUTION 98.06290920 % 1.93709080 %
CURRENT PREPAYMENT PERCENTAGE 100.00000000 % 0.00000000 %
PERCENTAGE FOR NEXT DISTRIBUTION 97.91782850 % 2.08217150 %
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 8.05017558
ENDING WEIGHTED AVERAGE MATURITY, IN MONTHS 293.62
POOL TRADING FACTOR: 83.46596041
................................................................................
Run: 05/27/97 12:00:14 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 18,937,387.97 9.500000 % 1,118,883.32
A-I- 76110FCV3 25,000,000.00 22,075,073.59 7.600000 % 666,444.71
A-I- 76110FCW1 12,373,000.00 7,783,258.16 6.650000 % 1,045,773.03
A-I- 76110FCX9 7,100,000.00 7,100,000.00 7.450000 % 0.00
A-I- 76110FCY7 10,137,000.00 10,137,000.00 7.600000 % 0.00
A-I- 76110FCZ4 5,558,000.00 5,558,000.00 7.800000 % 0.00
A-I- 76110FDA8 16,926,000.00 16,926,000.00 8.000000 % 0.00
A-I- 76110FDB6 6,884,000.00 6,884,000.00 8.000000 % 0.00
A-I- 76110FDC4 11,229,000.00 11,229,000.00 8.000000 % 0.00
A-I- 76110FDD2 22,501,000.00 22,501,000.00 8.000000 % 0.00
A-II 76110FDE0 11,162,000.00 10,370,848.41 8.000000 % 136,201.43
A-II 76110FDF7 4,525,000.00 4,525,000.00 8.000000 % 0.00
A-P 76110FDG5 1,105,878.69 1,093,240.78 0.000000 % 15,911.66
A-V 76110FGP2 0.00 0.00 0.882449 % 0.00
R 76110FDH3 100.00 0.00 8.000000 % 0.00
M-1 76110FDJ9 7,918,500.00 7,874,776.08 8.000000 % 6,582.00
M-2 76110FDK6 3,958,800.00 3,936,940.53 8.000000 % 3,290.62
M-3 76110FDL4 2,815,100.00 2,799,555.75 8.000000 % 2,339.96
B-1 76110FDM2 1,407,600.00 1,399,827.60 8.000000 % 1,170.02
B-2 76110FDN0 439,800.00 437,371.54 8.000000 % 365.57
B-3 76110FDP5 1,055,748.52 1,049,918.90 8.000000 % 877.56
- -------------------------------------------------------------------------------
175,944,527.21 162,618,199.31 2,997,839.88
===============================================================================
_______________________________________________________________________________
REMAINING
INTEREST TOTAL DEFERRED REALIZED PRINCIPAL
DISTRIBUTION DISTRIBUTION INTEREST LOSSES BALANCE
_______________________________________________________________________________
A-I-1 149,896.28 1,268,779.60 0.00 0.00 17,818,504.65
A-I-2 139,785.76 806,230.47 0.00 0.00 21,408,628.88
A-I-3 43,125.11 1,088,898.14 0.00 0.00 6,737,485.13
A-I-4 44,071.90 44,071.90 0.00 0.00 7,100,000.00
A-I-5 64,190.42 64,190.42 0.00 0.00 10,137,000.00
A-I-6 36,121.05 36,121.05 0.00 0.00 5,558,000.00
A-I-7 112,821.40 112,821.40 0.00 0.00 16,926,000.00
A-I-8 45,885.77 45,885.77 0.00 0.00 6,884,000.00
A-I-9 74,847.66 74,847.66 0.00 0.00 11,229,000.00
A-I-10 149,981.95 149,981.95 0.00 0.00 22,501,000.00
A-II-1 69,127.59 205,329.02 0.00 0.00 10,234,646.98
A-II-2 30,161.70 30,161.70 0.00 0.00 4,525,000.00
A-P 0.00 15,911.66 0.00 0.00 1,077,329.12
A-V 119,565.45 119,565.45 0.00 0.00 0.00
R 0.00 0.00 0.00 0.00 0.00
M-1 52,489.86 59,071.86 0.00 0.00 7,868,194.08
M-2 26,241.94 29,532.56 0.00 0.00 3,933,649.91
M-3 18,660.63 21,000.59 0.00 0.00 2,797,215.79
B-1 9,330.64 10,500.66 0.00 0.00 1,398,657.58
B-2 2,915.33 3,280.90 0.00 0.00 437,005.97
B-3 6,998.31 7,875.87 0.00 0.00 1,049,041.35
- -------------------------------------------------------------------------------
1,196,218.75 4,194,058.63 0.00 0.00 159,620,359.44
===============================================================================
Run: 05/27/97 12:00:14
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- 794.087050 46.917281 6.285486 53.202767 0.000000 747.169769
A-I- 883.002944 26.657788 5.591430 32.249218 0.000000 856.345155
A-I- 629.051819 84.520571 3.485421 88.005992 0.000000 544.531248
A-I- 1000.000000 0.000000 6.207310 6.207310 0.000000 1000.000000
A-I- 1000.000000 0.000000 6.332290 6.332290 0.000000 1000.000000
A-I- 1000.000000 0.000000 6.498929 6.498929 0.000000 1000.000000
A-I- 1000.000000 0.000000 6.665568 6.665568 0.000000 1000.000000
A-I- 1000.000000 0.000000 6.665568 6.665568 0.000000 1000.000000
A-I- 1000.000000 0.000000 6.665568 6.665568 0.000000 1000.000000
A-I- 1000.000000 0.000000 6.665568 6.665568 0.000000 1000.000000
A-II 929.120983 12.202242 6.193119 18.395361 0.000000 916.918740
A-II 1000.000000 0.000000 6.665569 6.665569 0.000000 1000.000000
A-P 988.572065 14.388247 0.000000 14.388247 0.000000 974.183818
R 0.000000 0.000000 0.000000 0.000000 0.000000 0.000000
M-1 994.478257 0.831218 6.628763 7.459981 0.000000 993.647039
M-2 994.478259 0.831217 6.628761 7.459978 0.000000 993.647042
M-3 994.478260 0.831217 6.628763 7.459980 0.000000 993.647043
B-1 994.478261 0.831216 6.628758 7.459974 0.000000 993.647045
B-2 994.478263 0.831219 6.628763 7.459982 0.000000 993.647044
B-3 994.478212 0.831221 6.628766 7.459987 0.000000 993.646996
_______________________________________________________________________________
DETERMINATION DATE 20-May-97
DISTRIBUTION DATE 27-May-97
Run: 05/27/97 12:00:15 rept2.frg
Page: 3 of 3
RESIDENTIAL FUNDING CORPORATION (MASTER SERVICER)
RESIDENTIAL ACCREDIT LOANS, INC. (COMPANY)
MORTGAGE ASSET-BACKED PASS-THROUGH CERTIFICATES 1996-QS5 (POOL # 4222)
STATEMENT TO CERTIFICATEHOLDERS
ADDITIONAL RELATED INFORMATION FOR POOL 4222
_______________________________________________________________________________
SERVICING COMPENSATION RECEIVED BY SUB-SERVICER 33,625.84
SERVICING COMPENSATION RECEIVED BY MASTER SERVICER 1,850.59
SUBSERVICER ADVANCES THIS MONTH 38,336.48
MASTER SERVICER ADVANCES THIS MONTH 0.00
NUMBER OF PRINCIPAL
DELINQUENCIES: LOANS BALANCE
(A) ONE MONTHLY PAYMENT: 32 3,340,999.26
(B) TWO MONTHLY PAYMENTS: 6 1,247,857.48
(C) THREE OR MORE MONTHLY PAYMENTS: 1 41,966.81
FORECLOSURES
NUMBER OF LOANS 1
AGGREGATE PRINCIPAL BALANCE 39,564.81
SCHEDULED PRINCIPAL BALANCE OF MORTGAGE LOANS AFTER
DISTRIBUTION 159,620,359.44
AGGREGATE NUMBER OF LOANS IN THE POOL AS OF THE
DETERMINATION DATE 1,535
NUMBER OF REO LOANS ACQUIRED
INCLUDING ANY PENDING CASH LIQUIDATIONS 0
BOOK VALUE OF REAL ESTATE ACQUIRED THROUGH
FORECLOSURE OR GRANT OF A DEED IN LIEU OF
FORECLOSURE, INCLUDING ANY PENDING CASH LIQUIDATIONS 0.00
REMAINING SUBCLASS INTEREST SHORTFALL 0.00
CLASS A SHORTFALL (PRINCIPAL) 0.00
CLASS A SHORTFALL (INTEREST) 0.00
TOTAL PREPAYMENTS INCLUDED IN THIS DISTRIBUTION 2,859,810.66
TOTAL REPURCHASES INCLUDED IN THIS DISTRIBUTION 0.00
DISTRIBUTION PERCENTAGES:
SENIOR CLASS M CLASS B
CURRENT DISTRIBUTION 88.56731210 % 8.98501700 % 1.77539660 %
PREPAYMENT PERCENT 100.00000000 % 0.00000000 % 0.00000000 %
NEXT DISTRIBUTION 88.97222750 % 9.14611384 % 1.81950910 %
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 9.15816500
ENDING WEIGHTED AVERAGE MATURITY, IN MONTHS 325.98
POOL TRADING FACTOR: 90.72198037
................................................................................
Run: 05/27/97 12:00:15 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 14,382,471.09 7.050000 % 1,393,337.67
A-I- 76110FDR1 43,322,483.00 37,884,984.32 6.087500 % 1,323,670.77
A-I- 76110FDS9 0.00 0.00 2.912500 % 0.00
A-I- 76110FDT7 13,330,948.00 13,330,948.00 7.125000 % 0.00
A-I- 76110FDU4 24,973,716.00 24,973,716.00 7.600000 % 0.00
A-I- 76110FDV2 0.00 0.00 8.000000 % 0.00
A-I- 76110FDW0 1,000,000.00 1,000,000.00 7.700000 % 0.00
A-I- 76110FDX8 9,539,699.00 9,539,699.00 7.700000 % 0.00
A-I- 76110FDY6 22,526,000.00 22,526,000.00 8.000000 % 0.00
A-I- 76110FDZ3 11,650,000.00 11,650,000.00 8.000000 % 0.00
A-I- 76110FEA7 30,421,000.00 30,421,000.00 8.000000 % 0.00
A-I- 76110FEB5 8,619,000.00 8,619,000.00 8.000000 % 0.00
A-II 76110FEC3 20,104,000.00 19,324,379.50 8.000000 % 76,662.28
A-P 76110FED1 601,147.92 588,839.51 0.000000 % 7,096.21
A-V 76110FGQ0 0.00 0.00 0.821313 % 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 9,078,333.10 8.000000 % 7,522.04
M-2 76110FEH2 5,126,400.00 5,106,002.11 8.000000 % 4,230.68
M-3 76110FEJ8 3,645,500.00 3,630,994.58 8.000000 % 3,008.54
B-1 1,822,700.00 1,815,447.49 8.000000 % 1,504.23
B-2 569,600.00 567,333.58 8.000000 % 470.08
B-3 1,366,716.75 1,361,278.57 8.000000 % 1,127.92
- -------------------------------------------------------------------------------
227,839,864.67 215,800,426.85 2,818,630.42
===============================================================================
_______________________________________________________________________________
REMAINING
INTEREST TOTAL DEFERRED REALIZED PRINCIPAL
DISTRIBUTION DISTRIBUTION INTEREST LOSSES BALANCE
_______________________________________________________________________________
A-I-1 84,477.65 1,477,815.32 0.00 0.00 12,989,133.42
A-I-2 192,143.31 1,515,814.08 0.00 0.00 36,561,313.55
A-I-3 91,928.93 91,928.93 0.00 0.00 0.00
A-I-4 79,134.36 79,134.36 0.00 0.00 13,330,948.00
A-I-5 158,130.61 158,130.61 0.00 0.00 24,973,716.00
A-I-6 495.17 495.17 0.00 0.00 0.00
A-I-7 6,415.20 6,415.20 0.00 0.00 1,000,000.00
A-I-8 61,199.04 61,199.04 0.00 0.00 9,539,699.00
A-I-9 150,138.91 150,138.91 0.00 0.00 22,526,000.00
A-I-10 77,648.87 77,648.87 0.00 0.00 11,650,000.00
A-I-11 202,760.18 202,760.18 0.00 0.00 30,421,000.00
A-I-12 57,446.83 57,446.83 0.00 0.00 8,619,000.00
A-II 128,799.67 205,461.95 0.00 0.00 19,247,717.22
A-P 0.00 7,096.21 0.00 0.00 581,743.30
A-V 147,665.96 147,665.96 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 60,508.35 68,030.39 0.00 0.00 9,070,811.06
M-2 34,032.21 38,262.89 0.00 0.00 5,101,771.43
M-3 24,201.08 27,209.62 0.00 0.00 3,627,986.04
B-1 12,100.21 13,604.44 0.00 0.00 1,813,943.26
B-2 3,781.35 4,251.43 0.00 0.00 566,863.50
B-3 9,073.11 10,201.03 0.00 0.00 1,360,150.68
- -------------------------------------------------------------------------------
1,582,081.00 4,400,711.42 0.00 0.00 212,981,796.46
===============================================================================
Run: 05/27/97 12:00:15
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- 715.326814 69.299065 4.201582 73.500647 0.000000 646.027750
A-I- 874.487834 30.553899 4.435187 34.989086 0.000000 843.933935
A-I- 1000.000000 0.000000 5.936139 5.936139 0.000000 1000.000000
A-I- 1000.000000 0.000000 6.331881 6.331881 0.000000 1000.000000
A-I- 1000.000000 0.000000 6.415200 6.415200 0.000000 1000.000000
A-I- 1000.000000 0.000000 6.415196 6.415196 0.000000 1000.000000
A-I- 1000.000000 0.000000 6.665139 6.665139 0.000000 1000.000000
A-I- 1000.000000 0.000000 6.665139 6.665139 0.000000 1000.000000
A-I- 1000.000000 0.000000 6.665139 6.665139 0.000000 1000.000000
A-I- 1000.000000 0.000000 6.665139 6.665139 0.000000 1000.000000
A-II 961.220628 3.813285 6.406669 10.219954 0.000000 957.407343
A-P 979.525156 11.804424 0.000000 11.804424 0.000000 967.720731
R-I 0.000000 0.000000 0.000000 0.000000 0.000000 0.000000
R-II 0.000000 0.000000 0.000000 0.000000 0.000000 0.000000
M-1 996.021010 0.825274 6.638618 7.463892 0.000000 995.195737
M-2 996.021011 0.825273 6.638618 7.463891 0.000000 995.195738
M-3 996.021007 0.825275 6.638617 7.463892 0.000000 995.195732
B-1 996.021007 0.825276 6.638619 7.463895 0.000000 995.195732
B-2 996.021032 0.825281 6.638606 7.463887 0.000000 995.195751
B-3 996.020990 0.825277 6.638618 7.463895 0.000000 995.195731
_______________________________________________________________________________
DETERMINATION DATE 20-May-97
DISTRIBUTION DATE 27-May-97
Run: 05/27/97 12:00:16 rept2.frg
Page: 3 of 3
RESIDENTIAL FUNDING CORPORATION (MASTER SERVICER)
RESIDENTIAL ACCREDIT LOANS, INC. (COMPANY)
MORTGAGE ASSET-BACKED PASS-THROUGH CERTIFICATES 1996-QS7 (POOL # 4228)
STATEMENT TO CERTIFICATEHOLDERS
ADDITIONAL RELATED INFORMATION FOR POOL 4228
_______________________________________________________________________________
SERVICING COMPENSATION RECEIVED BY SUB-SERVICER 44,806.12
SERVICING COMPENSATION RECEIVED BY MASTER SERVICER 6,094.56
SUBSERVICER ADVANCES THIS MONTH 31,009.56
MASTER SERVICER ADVANCES THIS MONTH 0.00
NUMBER OF PRINCIPAL
DELINQUENCIES: LOANS BALANCE
(A) ONE MONTHLY PAYMENT: 37 3,308,928.68
(B) TWO MONTHLY PAYMENTS: 2 114,534.04
(C) THREE OR MORE MONTHLY PAYMENTS: 0 0.00
FORECLOSURES
NUMBER OF LOANS 2
AGGREGATE PRINCIPAL BALANCE 294,716.77
SCHEDULED PRINCIPAL BALANCE OF MORTGAGE LOANS AFTER
DISTRIBUTION 212,981,796.46
AGGREGATE NUMBER OF LOANS IN THE POOL AS OF THE
DETERMINATION DATE 2,013
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 2,638,080.93
TOTAL REPURCHASES INCLUDED IN THIS DISTRIBUTION 0.00
DISTRIBUTION PERCENTAGES:
SENIOR CLASS M CLASS B
CURRENT DISTRIBUTION 89.73670750 % 8.25546600 % 1.73496400 %
PREPAYMENT PERCENT 100.00000000 % 0.00000000 % 0.00000000 %
NEXT DISTRIBUTION 89.85804120 % 8.35778871 % 1.76127900 %
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 9.12675200
ENDING WEIGHTED AVERAGE MATURITY, IN MONTHS 329.50
POOL TRADING FACTOR: 93.47872321
................................................................................
Run: 05/27/97 11:59:49 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 3,784,481.71 7.400000 % 47,877.67
A-2 76110FEL3 4,074,824.00 3,558,854.97 7.300000 % 114,623.20
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 30,078,420.52 6.187500 % 333,480.78
A-8 76110FES8 0.00 0.00 2.812500 % 0.00
A-9 76110FET6 32,965,000.00 29,242,388.92 0.000000 % 826,982.96
A-10 76110FEU3 20,953,719.00 20,881,398.41 7.400000 % 16,066.11
A-11 76110FEV1 13,975,000.00 13,975,000.00 7.750000 % 0.00
A-12 76110FEW9 2,000,000.00 2,000,000.00 7.750000 % 0.00
A-13 76110FEX7 20,646,958.00 20,646,958.00 7.750000 % 0.00
A-14 76110FEY5 115,824.70 115,005.28 0.000000 % 143.22
A-15 76110FGR8 0.00 0.00 0.907070 % 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 6,645,310.79 7.750000 % 8,844.15
M-2 76110FFC2 4,440,700.00 4,430,240.44 7.750000 % 5,896.15
M-3 76110FFD0 3,108,500.00 3,101,178.29 7.750000 % 4,127.32
B-1 1,509,500.00 1,505,944.55 7.750000 % 2,004.24
B-2 444,000.00 442,954.22 7.750000 % 589.52
B-3 1,154,562.90 1,151,843.36 7.750000 % 1,532.99
- -------------------------------------------------------------------------------
177,623,205.60 171,553,833.46 1,362,168.31
===============================================================================
_______________________________________________________________________________
REMAINING
INTEREST TOTAL DEFERRED REALIZED PRINCIPAL
DISTRIBUTION DISTRIBUTION INTEREST LOSSES BALANCE
_______________________________________________________________________________
A-1 23,332.89 71,210.56 0.00 0.00 3,736,604.04
A-2 21,645.29 136,268.49 0.00 0.00 3,444,231.77
A-3 77,112.52 77,112.52 0.00 0.00 13,128,206.00
A-4 22,899.99 22,899.99 0.00 0.00 3,765,148.00
A-5 64,736.83 64,736.83 0.00 0.00 10,500,000.00
A-6 16,033.16 16,033.16 0.00 0.00 2,600,500.00
A-7 155,060.30 488,541.08 0.00 0.00 29,744,939.74
A-8 70,481.96 70,481.96 0.00 0.00 0.00
A-9 178,908.81 1,005,891.77 0.00 0.00 28,415,405.96
A-10 128,742.42 144,808.53 0.00 0.00 20,865,332.30
A-11 90,236.85 90,236.85 0.00 0.00 13,975,000.00
A-12 12,914.04 12,914.04 0.00 0.00 2,000,000.00
A-13 133,317.81 133,317.81 0.00 0.00 20,646,958.00
A-14 0.00 143.22 0.00 0.00 114,862.06
A-15 129,649.73 129,649.73 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 42,908.90 51,753.05 0.00 0.00 6,636,466.64
M-2 28,606.15 34,502.30 0.00 0.00 4,424,344.29
M-3 20,024.36 24,151.68 0.00 0.00 3,097,050.97
B-1 9,723.91 11,728.15 0.00 0.00 1,503,940.31
B-2 2,860.17 3,449.69 0.00 0.00 442,364.70
B-3 7,437.48 8,970.47 0.00 0.00 1,150,310.37
- -------------------------------------------------------------------------------
1,236,633.57 2,598,801.88 0.00 0.00 170,191,665.15
===============================================================================
Run: 05/27/97 11:59:49
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-1 946.120428 11.969418 5.833223 17.802641 0.000000 934.151010
A-2 873.376364 28.129608 5.311957 33.441565 0.000000 845.246757
A-3 1000.000000 0.000000 5.873805 5.873805 0.000000 1000.000000
A-4 1000.000000 0.000000 6.082096 6.082096 0.000000 1000.000000
A-5 1000.000000 0.000000 6.165412 6.165412 0.000000 1000.000000
A-6 1000.000000 0.000000 6.165414 6.165414 0.000000 1000.000000
A-7 952.464748 10.560019 4.910147 15.470166 0.000000 941.904730
A-9 887.073833 25.086697 5.427235 30.513932 0.000000 861.987137
A-10 996.548556 0.766743 6.144132 6.910875 0.000000 995.781813
A-11 1000.000000 0.000000 6.457020 6.457020 0.000000 1000.000000
A-12 1000.000000 0.000000 6.457020 6.457020 0.000000 1000.000000
A-13 1000.000000 0.000000 6.457019 6.457019 0.000000 1000.000000
A-14 992.925343 1.236524 0.000000 1.236524 0.000000 991.688819
R-I 0.000000 0.000000 0.000000 0.000000 0.000000 0.000000
R-II 0.000000 0.000000 0.000000 0.000000 0.000000 0.000000
M-1 997.644616 1.327751 6.441811 7.769562 0.000000 996.316865
M-2 997.644615 1.327752 6.441811 7.769563 0.000000 996.316862
M-3 997.644616 1.327753 6.441808 7.769561 0.000000 996.316863
B-1 997.644617 1.327751 6.441809 7.769560 0.000000 996.316867
B-2 997.644640 1.327748 6.441824 7.769572 0.000000 996.316892
B-3 997.644529 1.327741 6.441814 7.769555 0.000000 996.316766
_______________________________________________________________________________
DETERMINATION DATE 20-May-97
DISTRIBUTION DATE 27-May-97
Run: 05/27/97 11:59:50 rept2.frg
Page: 3 of 3
RESIDENTIAL FUNDING CORPORATION (MASTER SERVICER)
RESIDENTIAL ACCREDIT LOANS, INC. (COMPANY)
MORTGAGE ASSET-BACKED PASS-THROUGH CERTIFICATES 1996-QS8 (POOL # 4231)
STATEMENT TO CERTIFICATEHOLDERS
ADDITIONAL RELATED INFORMATION FOR POOL 4231
_______________________________________________________________________________
SERVICING COMPENSATION RECEIVED BY SUB-SERVICER 35,720.43
SERVICING COMPENSATION RECEIVED BY MASTER SERVICER 9,585.87
SUBSERVICER ADVANCES THIS MONTH 23,178.90
MASTER SERVICER ADVANCES THIS MONTH 0.00
NUMBER OF PRINCIPAL
DELINQUENCIES: LOANS BALANCE
(A) ONE MONTHLY PAYMENT: 20 1,871,207.62
(B) TWO MONTHLY PAYMENTS: 4 241,770.04
(C) THREE OR MORE MONTHLY PAYMENTS: 1 74,552.61
FORECLOSURES
NUMBER OF LOANS 3
AGGREGATE PRINCIPAL BALANCE 792,035.49
SCHEDULED PRINCIPAL BALANCE OF MORTGAGE LOANS AFTER
DISTRIBUTION 170,191,665.16
AGGREGATE NUMBER OF LOANS IN THE POOL AS OF THE
DETERMINATION DATE 1,584
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 1,133,875.10
TOTAL REPURCHASES INCLUDED IN THIS DISTRIBUTION 123,913.90
DISTRIBUTION PERCENTAGES:
SENIOR CLASS M CLASS B
CURRENT DISTRIBUTION 89.92207780 % 8.26926400 % 1.80865800 %
PREPAYMENT PERCENT 100.00000000 % 0.00000000 % 0.00000000 %
NEXT DISTRIBUTION 89.85489090 % 8.31877512 % 1.82071590 %
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 8.97971201
ENDING WEIGHTED AVERAGE MATURITY, IN MONTHS 348.53
POOL TRADING FACTOR: 95.81612075
................................................................................
Run: 05/27/97 11:59:57 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 30,483,760.17 6.750000 % 1,822,293.67
A-2 76110FFF5 10,146,000.00 9,493,237.67 6.750000 % 428,774.99
A-3 76110FFG3 24,816,000.00 24,816,000.00 6.750000 % 0.00
A-4 76110FFH1 15,938,000.00 15,938,000.00 6.750000 % 0.00
A-5 76110FFJ7 10,253,000.00 10,253,000.00 6.750000 % 0.00
A-6 76110FFK4 31,511,646.00 30,777,288.42 11.000000 % 482,371.84
A-7 76110FFL2 17,652,000.00 17,652,000.00 6.750000 % 0.00
A-8 76110FFM0 5,655,589.00 5,655,589.00 6.750000 % 0.00
A-9 76110FFN8 19,068,000.00 19,068,000.00 6.750000 % 0.00
A-10 76110FFP3 10,267,765.00 10,267,765.00 6.750000 % 0.00
A-11 76110FFQ1 47,506,000.00 47,506,000.00 7.500000 % 0.00
A-12 76110FFR9 212,947.62 212,471.99 0.000000 % 259.44
A-13 76110FFS7 0.00 0.00 0.977249 % 0.00
R 76110FFT5 100.00 0.00 7.500000 % 0.00
M-1 76110FFV0 9,377,000.00 9,365,945.44 7.500000 % 5,619.39
M-2 76110FFW8 6,251,000.00 6,243,630.69 7.500000 % 3,746.06
M-3 76110FFW8 4,375,700.00 4,370,541.48 7.500000 % 2,622.24
B-1 1,624,900.00 1,622,984.41 7.500000 % 973.76
B-2 624,800.00 624,063.42 7.500000 % 374.43
B-3 1,500,282.64 1,498,513.94 7.500000 % 899.07
- -------------------------------------------------------------------------------
250,038,730.26 245,848,791.63 2,747,934.89
===============================================================================
_______________________________________________________________________________
REMAINING
INTEREST TOTAL DEFERRED REALIZED PRINCIPAL
DISTRIBUTION DISTRIBUTION INTEREST LOSSES BALANCE
_______________________________________________________________________________
A-1 171,435.52 1,993,729.19 0.00 0.00 28,661,466.50
A-2 53,388.37 482,163.36 0.00 0.00 9,064,462.68
A-3 139,561.00 139,561.00 0.00 0.00 24,816,000.00
A-4 89,632.62 89,632.62 0.00 0.00 15,938,000.00
A-5 57,661.15 57,661.15 0.00 0.00 10,253,000.00
A-6 282,066.52 764,438.36 0.00 0.00 30,294,916.58
A-7 99,271.87 99,271.87 0.00 0.00 17,652,000.00
A-8 31,806.08 31,806.08 0.00 0.00 5,655,589.00
A-9 107,235.22 107,235.22 0.00 0.00 19,068,000.00
A-10 57,744.18 57,744.18 0.00 0.00 10,267,765.00
A-11 296,850.81 296,850.81 0.00 0.00 47,506,000.00
A-12 0.00 259.44 0.00 0.00 212,212.55
A-13 200,171.22 200,171.22 0.00 0.00 0.00
R 0.00 0.00 0.00 0.00 0.00
M-1 58,525.00 64,144.39 0.00 0.00 9,360,326.05
M-2 39,014.58 42,760.64 0.00 0.00 6,239,884.63
M-3 27,310.20 29,932.44 0.00 0.00 4,367,919.24
B-1 10,141.54 11,115.30 0.00 0.00 1,622,010.65
B-2 3,899.59 4,274.02 0.00 0.00 623,688.99
B-3 9,363.76 10,262.83 0.00 0.00 1,497,614.87
- -------------------------------------------------------------------------------
1,735,079.23 4,483,014.12 0.00 0.00 243,100,856.74
===============================================================================
Run: 05/27/97 11:59:57
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-1 916.584286 54.792641 5.154715 59.947356 0.000000 861.791644
A-2 935.663086 42.260496 5.262012 47.522508 0.000000 893.402590
A-3 1000.000000 0.000000 5.623831 5.623831 0.000000 1000.000000
A-4 1000.000000 0.000000 5.623831 5.623831 0.000000 1000.000000
A-5 1000.000000 0.000000 5.623832 5.623832 0.000000 1000.000000
A-6 976.695677 15.307732 8.951183 24.258915 0.000000 961.387945
A-7 1000.000000 0.000000 5.623831 5.623831 0.000000 1000.000000
A-8 1000.000000 0.000000 5.623832 5.623832 0.000000 1000.000000
A-9 1000.000000 0.000000 5.623832 5.623832 0.000000 1000.000000
A-10 1000.000000 0.000000 5.623831 5.623831 0.000000 1000.000000
A-11 1000.000000 0.000000 6.248701 6.248701 0.000000 1000.000000
A-12 997.766446 1.218328 0.000000 1.218328 0.000000 996.548118
R 0.000000 0.000000 0.000000 0.000000 0.000000 0.000000
M-1 998.821098 0.599274 6.241335 6.840609 0.000000 998.221825
M-2 998.821099 0.599274 6.241334 6.840608 0.000000 998.221825
M-3 998.821098 0.599273 6.241333 6.840606 0.000000 998.221825
B-1 998.821103 0.599274 6.241332 6.840606 0.000000 998.221829
B-2 998.821095 0.599280 6.241341 6.840621 0.000000 998.221815
B-3 998.821089 0.599274 6.241331 6.840605 0.000000 998.221822
_______________________________________________________________________________
DETERMINATION DATE 20-May-97
DISTRIBUTION DATE 27-May-97
Run: 05/27/97 11:59:57 rept2.frg
Page: 3 of 3
RESIDENTIAL FUNDING CORPORATION (MASTER SERVICER)
RESIDENTIAL FUNDING MORTGAGE SECURITIES I, INC. (COMPANY)
MORTGAGE PASS-THROUGH CERTIFICATES 1997-QS1 (POOL # 4237)
STATEMENT TO CERTIFICATEHOLDERS
ADDITIONAL RELATED INFORMATION FOR POOL 4237
_______________________________________________________________________________
SERVICING COMPENSATION RECEIVED BY SUB-SERVICER 51,341.23
SERVICING COMPENSATION RECEIVED BY MASTER SERVICER 6,254.74
SUBSERVICER ADVANCES THIS MONTH 51,645.61
MASTER SERVICER ADVANCES THIS MONTH 0.00
NUMBER OF PRINCIPAL
DELINQUENCIES: LOANS BALANCE
(A) ONE MONTHLY PAYMENT: 46 5,634,880.37
(B) TWO MONTHLY PAYMENTS: 9 946,067.01
(C) THREE OR MORE MONTHLY PAYMENTS: 0 0.00
FORECLOSURES
NUMBER OF LOANS 1
AGGREGATE PRINCIPAL BALANCE 102,150.00
SCHEDULED PRINCIPAL BALANCE OF MORTGAGE LOANS AFTER
DISTRIBUTION 243,100,856.74
AGGREGATE NUMBER OF LOANS IN THE POOL AS OF THE
DETERMINATION DATE 2,226
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 2,600,352.94
TOTAL REPURCHASES INCLUDED IN THIS DISTRIBUTION 0.00
DISTRIBUTION PERCENTAGES:
SENIOR CLASS M CLASS B
CURRENT DISTRIBUTION 90.34113550 % 8.13402400 % 1.52484040 %
PREPAYMENT PERCENT 100.00000000 % 0.00000000 % 0.00000000 %
NEXT DISTRIBUTION 90.23773030 % 8.21392824 % 1.54116490 %
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 8.79920459
ENDING WEIGHTED AVERAGE MATURITY, IN MONTHS 353.15
POOL TRADING FACTOR: 97.22528045
................................................................................
Run: 05/27/97 12:00:01 REPT1B.FRG
Page: 1 of 3
RESIDENTIAL FUNDING CORPORATION (MASTER SERVICER)
RESIDENTIAL ACCREDIT LOANS, INC. (COMPANY)
MORTGAGE ASSET-BACKED PASS-THROUGH CERTIFICATES SERIES 1997-QS2 (POOL # 4240)
STATEMENT TO CERTIFICATEHOLDERS
DISTRIBUTION SUMMARY FOR POOL# 4240
_______________________________________________________________________________
PRINCIPAL CURRENT
ORIGINAL BALANCE BEFORE PASS-THROUGH PRINCIPAL
CLASS CUSIP FACE VALUE DISTRIBUTION RATE DISTRIBUTION
_______________________________________________________________________________
A-1 76110FFY4 31,108,570.00 30,839,719.78 9.000000 % 485,865.33
A-2 37,000,000.00 36,420,297.82 7.250000 % 1,047,636.09
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 9,907,576.59 7.250000 % 167,027.31
A-6 76110FGD9 7,371,430.00 7,371,430.00 7.250000 % 0.00
A-7 76110FGE7 10,400,783.00 10,400,783.00 7.750000 % 0.00
A-8 76110FGF4 31,000,000.00 31,000,000.00 7.750000 % 0.00
A-9 76110FGG2 130,561.76 130,426.13 0.000000 % 164.70
A-10 76110FGH0 0.00 0.00 0.745846 % 0.00
R 76100FGJ6 100.00 0.00 7.750000 % 0.00
M-1 76110FGK3 4,931,600.00 4,928,724.29 7.750000 % 2,633.57
M-2 76110FGL1 4,109,600.00 4,107,203.61 7.750000 % 2,194.61
M-3 76110FGM9 2,630,200.00 2,628,666.28 7.750000 % 1,404.58
B-1 1,068,500.00 1,067,876.94 7.750000 % 570.60
B-2 410,900.00 410,660.40 7.750000 % 219.43
B-3 821,738.81 821,259.62 7.750000 % 438.81
- -------------------------------------------------------------------------------
164,383,983.57 163,434,624.46 1,708,155.03
===============================================================================
_______________________________________________________________________________
REMAINING
INTEREST TOTAL DEFERRED REALIZED PRINCIPAL
DISTRIBUTION DISTRIBUTION INTEREST LOSSES BALANCE
_______________________________________________________________________________
A-1 231,234.04 717,099.37 0.00 0.00 30,353,854.45
A-2 219,978.55 1,267,614.64 0.00 0.00 35,372,661.73
A-3 31,408.00 31,408.00 0.00 0.00 5,200,000.00
A-4 109,927.97 109,927.97 0.00 0.00 18,200,000.00
A-5 59,841.75 226,869.06 0.00 0.00 9,740,549.28
A-6 44,523.42 44,523.42 0.00 0.00 7,371,430.00
A-7 67,153.17 67,153.17 0.00 0.00 10,400,783.00
A-8 200,153.05 200,153.05 0.00 0.00 31,000,000.00
A-9 0.00 164.70 0.00 0.00 130,261.43
A-10 101,552.83 101,552.83 0.00 0.00 0.00
R 0.00 0.00 0.00 0.00 0.00
M-1 31,822.55 34,456.12 0.00 0.00 4,926,090.72
M-2 26,518.37 28,712.98 0.00 0.00 4,105,009.00
M-3 16,972.11 18,376.69 0.00 0.00 2,627,261.70
B-1 6,894.81 7,465.41 0.00 0.00 1,067,306.34
B-2 2,651.45 2,870.88 0.00 0.00 410,440.97
B-3 5,302.51 5,741.32 0.00 0.00 820,820.81
- -------------------------------------------------------------------------------
1,155,934.58 2,864,089.61 0.00 0.00 161,726,469.43
===============================================================================
Run: 05/27/97 12:00:01
Page: 2 of 3
RESIDENTIAL FUNDING CORPORATION (MASTER SERVICER)
RESIDENTIAL ACCREDIT LOANS, INC. (COMPANY)
MORTGAGE ASSET-BACKED PASS-THROUGH CERTIFICATES SERIES 1997-QS2 (POOL # 4240)
STATEMENT TO CERTIFICATEHOLDERS
DISTRIBUTION SUMMARY FOR POOL# 4240
_______________________________________________________________________________
AMOUNTS PER $1,000 UNIT
_______________________________________________________________________________
BEGINNING ENDING
BALANCE PRINCIPAL INTEREST TOTAL DEFERRED BALANCE
CLASS FACTOR FACTOR FACTOR DISTRIBUTION INTEREST FACTOR
_______________________________________________________________________________
A-1 991.357680 15.618376 7.433130 23.051506 0.000000 975.739304
A-2 984.332374 28.314489 5.945366 34.259855 0.000000 956.017885
A-3 1000.000000 0.000000 6.040000 6.040000 0.000000 1000.000000
A-4 1000.000000 0.000000 6.039998 6.039998 0.000000 1000.000000
A-5 990.757659 16.702731 5.984175 22.686906 0.000000 974.054928
A-6 1000.000000 0.000000 6.039998 6.039998 0.000000 1000.000000
A-7 1000.000000 0.000000 6.456549 6.456549 0.000000 1000.000000
A-8 1000.000000 0.000000 6.456550 6.456550 0.000000 1000.000000
A-9 998.961181 1.261472 0.000000 1.261472 0.000000 997.699709
R 0.000000 0.000000 0.000000 0.000000 0.000000 0.000000
M-1 999.416881 0.534019 6.452784 6.986803 0.000000 998.882862
M-2 999.416880 0.534020 6.452786 6.986806 0.000000 998.882860
M-3 999.416881 0.534020 6.452783 6.986803 0.000000 998.882861
B-1 999.416883 0.534020 6.452794 6.986814 0.000000 998.882864
B-2 999.416890 0.534023 6.452787 6.986810 0.000000 998.882867
B-3 999.416859 0.534014 6.452792 6.986806 0.000000 998.882857
_______________________________________________________________________________
DETERMINATION DATE 20-May-97
DISTRIBUTION DATE 27-May-97
Run: 05/27/97 12:00:01 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 34,024.26
SERVICING COMPENSATION RECEIVED BY MASTER SERVICER 5,426.81
SUBSERVICER ADVANCES THIS MONTH 42,827.93
MASTER SERVICER ADVANCES THIS MONTH 0.00
NUMBER OF PRINCIPAL
DELINQUENCIES: LOANS BALANCE
(A) ONE MONTHLY PAYMENT: 47 5,037,307.48
(B) TWO MONTHLY PAYMENTS: 3 330,300.00
(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 161,726,469.43
AGGREGATE NUMBER OF LOANS IN THE POOL AS OF THE
DETERMINATION DATE 1,495
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 1,620,804.07
TOTAL REPURCHASES INCLUDED IN THIS DISTRIBUTION 0.00
DISTRIBUTION PERCENTAGES:
SENIOR CLASS M CLASS B
CURRENT DISTRIBUTION 91.44884740 % 7.14286200 % 1.40829020 %
PREPAYMENT PERCENT 100.00000000 % 0.00000000 % 0.00000000 %
NEXT DISTRIBUTION 91.36308350 % 7.20869098 % 1.42241460 %
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 8.81819728
ENDING WEIGHTED AVERAGE MATURITY, IN MONTHS 355.33
POOL TRADING FACTOR: 98.38334971
................................................................................
Run: 05/27/97 12:00:03 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 32,109,000.00 7.250000 % 497,589.73
A-2 76110FGT4 26,579,000.00 26,579,000.00 7.500000 % 0.00
A-3 76110FGU1 16,821,000.00 16,821,000.00 7.500000 % 0.00
A-4 76110FGV9 23,490,000.00 23,490,000.00 7.750000 % 0.00
A-5 76110FGW7 7,138,000.00 7,138,000.00 7.750000 % 0.00
A-6 76110FGX5 1,000,000.00 1,000,000.00 7.750000 % 0.00
A-7 76110FGY3 15,374,000.00 15,374,000.00 9.500000 % 142,168.49
A-8 76110FGZ0 27,500,000.00 27,500,000.00 7.750000 % 0.00
A-9 76110FHA4 107,351.50 107,351.50 0.000000 % 77.41
A-10 76110FHB2 0.00 0.00 0.750800 % 0.00
R 76110FHC0 100.00 100.00 7.750000 % 100.00
M-1 76110FHD8 5,346,700.00 5,346,700.00 7.750000 % 3,069.98
M-2 76110FHE6 4,112,900.00 4,112,900.00 7.750000 % 2,361.56
M-3 76110FHF3 2,632,200.00 2,632,200.00 7.750000 % 1,511.36
B-1 1,069,400.00 1,069,400.00 7.750000 % 614.03
B-2 411,200.00 411,200.00 7.750000 % 236.10
B-3 823,585.68 823,585.68 7.750000 % 472.91
- -------------------------------------------------------------------------------
164,514,437.18 164,514,437.18 648,201.57
===============================================================================
_______________________________________________________________________________
REMAINING
INTEREST TOTAL DEFERRED REALIZED PRINCIPAL
DISTRIBUTION DISTRIBUTION INTEREST LOSSES BALANCE
_______________________________________________________________________________
A-1 193,956.13 691,545.86 0.00 0.00 31,611,410.27
A-2 166,088.14 166,088.14 0.00 0.00 26,579,000.00
A-3 105,111.88 105,111.88 0.00 0.00 16,821,000.00
A-4 151,678.29 151,678.29 0.00 0.00 23,490,000.00
A-5 46,091.09 46,091.09 0.00 0.00 7,138,000.00
A-6 6,457.14 6,457.14 0.00 0.00 1,000,000.00
A-7 121,688.40 263,856.89 0.00 0.00 15,231,831.51
A-8 177,571.44 177,571.44 0.00 0.00 27,500,000.00
A-9 0.00 77.41 0.00 0.00 107,274.09
A-10 102,912.26 102,912.26 0.00 0.00 0.00
R 0.65 100.65 0.00 0.00 0.00
M-1 34,524.41 37,594.39 0.00 0.00 5,343,630.02
M-2 26,557.59 28,919.15 0.00 0.00 4,110,538.44
M-3 16,996.50 18,507.86 0.00 0.00 2,630,688.64
B-1 6,905.27 7,519.30 0.00 0.00 1,068,785.97
B-2 2,655.18 2,891.28 0.00 0.00 410,963.90
B-3 5,318.01 5,790.92 0.00 0.00 823,112.77
- -------------------------------------------------------------------------------
1,164,512.38 1,812,713.95 0.00 0.00 163,866,235.61
===============================================================================
Run: 05/27/97 12:00:03
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 1000.000000 15.496893 6.040553 21.537446 0.000000 984.503107
A-2 1000.000000 0.000000 6.248848 6.248848 0.000000 1000.000000
A-3 1000.000000 0.000000 6.248848 6.248848 0.000000 1000.000000
A-4 1000.000000 0.000000 6.457143 6.457143 0.000000 1000.000000
A-5 1000.000000 0.000000 6.457143 6.457143 0.000000 1000.000000
A-6 1000.000000 0.000000 6.457140 6.457140 0.000000 1000.000000
A-7 1000.000000 9.247333 7.915207 17.162540 0.000000 990.752667
A-8 1000.000000 0.000000 6.457143 6.457143 0.000000 1000.000000
A-9 1000.000000 0.721089 0.000000 0.721089 0.000000 999.278911
R 1000.000000 1000.000 6.500000 1006.500000 0.000000 0.000000
M-1 1000.000000 0.574182 6.457144 7.031326 0.000000 999.425818
M-2 1000.000000 0.574184 6.457145 7.031329 0.000000 999.425816
M-3 1000.000000 0.574181 6.457146 7.031327 0.000000 999.425819
B-1 1000.000000 0.574182 6.457144 7.031326 0.000000 999.425818
B-2 1000.000000 0.574173 6.457150 7.031323 0.000000 999.425827
B-3 1000.000000 0.574160 6.457142 7.031302 0.000000 999.425797
_______________________________________________________________________________
DETERMINATION DATE 20-May-97
DISTRIBUTION DATE 27-May-97
Run: 05/27/97 12:00:04 rept2.frg
Page: 3 of 3
RESIDENTIAL FUNDING CORPORATION (MASTER SERVICER)
RESIDENTIAL ACCREDIT LOANS, INC. (COMPANY)
MORTGAGE ASSET-BACKED PASS-THROUGH CERTIFICATES 1997-QS3 (POOL # 4244)
STATEMENT TO CERTIFICATEHOLDERS
ADDITIONAL RELATED INFORMATION FOR POOL 4244
_______________________________________________________________________________
SERVICING COMPENSATION RECEIVED BY SUB-SERVICER 34,236.35
SERVICING COMPENSATION RECEIVED BY MASTER SERVICER 9,605.61
SUBSERVICER ADVANCES THIS MONTH 5,382.06
MASTER SERVICER ADVANCES THIS MONTH 0.00
NUMBER OF PRINCIPAL
DELINQUENCIES: LOANS BALANCE
(A) ONE MONTHLY PAYMENT: 8 686,984.50
(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 163,866,235.61
AGGREGATE NUMBER OF LOANS IN THE POOL AS OF THE
DETERMINATION DATE 1,476
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 553,726.56
TOTAL REPURCHASES INCLUDED IN THIS DISTRIBUTION 0.00
DISTRIBUTION PERCENTAGES:
SENIOR CLASS M CLASS B
CURRENT DISTRIBUTION 91.24369510 % 7.35479200 % 1.40151240 %
PREPAYMENT PERCENT 100.00000000 % 0.00000000 % 0.00000000 %
NEXT DISTRIBUTION 91.21408710 % 7.37483049 % 1.40625140 %
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 8.82388343
ENDING WEIGHTED AVERAGE MATURITY, IN MONTHS 357.44
POOL TRADING FACTOR: 99.60599107
................................................................................
