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)
January 25, 1997
RESIDENTIAL ACCREDIT LOANS, INC.
(Exact name of the registrant as specified in
its charter)
33-95932 51-0368240
Delaware (Commission File Number) (I.R.S. Employee
(State or other Identification No.)
jurisdiction of
incorporation)
8400 Normandale Lake Boulevard 55437
Minneapolis, Minnesota (Zip Code)
(Address of Principal
Executive Offices)
Registrant's telephone number, including area code
(612) 832-7000
- --------------------
Item 5. Other Events
<PAGE>
See the respective monthly reports, each reflecting the required information for
the January 1997 distribution to holders of the following series of Conduit
Mortgage Pass-Through Certificates.
Master Serviced by Residential Funding Corporation
1995-QS1 RALI
1996-QS1 RALI
1996-QS2 RALI
1996-QS3 RALI
1996-QS4 RALI
1996-QS6 RALI
1996-QS5 RALI
1996-QS7 RALI
1996-QS8 RALI
Item 7. Financial Statements and Exhibits (a) Not applicable (b) Not applicable
(c) See Item 5.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned thereunto duly
authorized.
RESIDENTIAL ACCREDIT LOANS, INC.
By: /s/Davee Olson
Name: Davee Olson
Title: Chief Financial Officer
and Treasurer
Dated: January 25, 1997
<PAGE>
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RESIDENTIAL FUNDING CORPORATION (MASTER SERVICER)
RESIDENTIAL ACCREDIT LOANS, INC. (COMPANY)
MORTGAGE PASS-THROUGH CERTIFICATES SERIES 1995-QS1 (POOL # 4180)
STATEMENT TO CERTIFICATEHOLDERS
DISTRIBUTION SUMMARY FOR POOL# 4180
_______________________________________________________________________________
PRINCIPAL CURRENT
ORIGINAL BALANCE BEFORE PASS-THROUGH PRINCIPAL
CLASS CUSIP FACE VALUE DISTRIBUTION RATE DISTRIBUTION
_______________________________________________________________________________
A-1 76110FAA1 54,500,000.00 7,907,698.37 6.600000 % 3,822,173.03
A-2 76110FAB9 82,500,000.00 82,500,000.00 6.900000 % 0.00
A-3 76110FAC7 22,250,000.00 22,250,000.00 7.300000 % 0.00
A-4 76110FAD5 46,000,000.00 46,000,000.00 7.500000 % 0.00
A-5 76110FAE3 22,100,000.00 22,100,000.00 7.500000 % 0.00
A-6 76110FAF0 31,109,000.00 31,109,000.00 7.500000 % 0.00
R 514.42 2,326,135.63 0.000000 % 0.00
- -------------------------------------------------------------------------------
258,459,514.42 214,192,834.00 3,822,173.03
===============================================================================
_______________________________________________________________________________
REMAINING
INTEREST TOTAL DEFERRED REALIZED PRINCIPAL
DISTRIBUTION DISTRIBUTION INTEREST LOSSES BALANCE
_______________________________________________________________________________
A-1 43,492.34 3,865,665.37 0.00 0.00 4,085,525.34
A-2 474,375.00 474,375.00 0.00 0.00 82,500,000.00
A-3 135,354.17 135,354.17 0.00 0.00 22,250,000.00
A-4 287,500.00 287,500.00 0.00 0.00 46,000,000.00
A-5 138,125.00 138,125.00 0.00 0.00 22,100,000.00
A-6 194,431.25 194,431.25 0.00 0.00 31,109,000.00
R 319,367.54 319,367.54 0.00 0.00 2,326,135.63
- -------------------------------------------------------------------------------
1,592,645.30 5,414,818.33 0.00 0.00 210,370,660.97
===============================================================================
_______________________________________________________________________________
AMOUNTS PER $1,000 UNIT
_______________________________________________________________________________
BEGINNING ENDING
BALANCE PRINCIPAL INTEREST TOTAL DEFERRED BALANCE
CLASS FACTOR FACTOR FACTOR DISTRIBUTION INTEREST FACTOR
_______________________________________________________________________________
A-1 145.095383 70.131615 0.798025 70.929640 0.000000 74.963768
A-2 1000.000000 0.000000 5.750000 5.750000 0.000000 1000.000000
A-3 1000.000000 0.000000 6.083333 6.083333 0.000000 1000.000000
A-4 1000.000000 0.000000 6.250000 6.250000 0.000000 1000.000000
A-5 1000.000000 0.000000 6.250000 6.250000 0.000000 1000.000000
A-6 1000.000000 0.000000 6.250000 6.250000 0.000000 1000.000000
_______________________________________________________________________________
DETERMINATION DATE 21-January-97
DISTRIBUTION DATE 27-January-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 44,050.87
SERVICING COMPENSATION RECEIVED BY MASTER SERVICER 634.03
SUBSERVICER ADVANCES THIS MONTH 94,702.11
MASTER SERVICER ADVANCES THIS MONTH 4,690.66
NUMBER OF PRINCIPAL
DELINQUENCIES: LOANS BALANCE
(A) ONE MONTHLY PAYMENT: 56 5,906,953.39
(B) TWO MONTHLY PAYMENTS: 11 801,772.94
(C) THREE OR MORE MONTHLY PAYMENTS: 6 1,853,938.71
FORECLOSURES
NUMBER OF LOANS 17
AGGREGATE PRINCIPAL BALANCE 2,801,606.35
SCHEDULED PRINCIPAL BALANCE OF MORTGAGE LOANS AFTER
DISTRIBUTION 210,370,660.97
AGGREGATE NUMBER OF LOANS IN THE POOL AS OF THE
DETERMINATION DATE 2,211
NUMBER OF REO LOANS ACQUIRED
INCLUDING ANY PENDING CASH LIQUIDATIONS 2
BOOK VALUE OF REAL ESTATE ACQUIRED THROUGH
FORECLOSURE OR GRANT OF A DEED IN LIEU OF
FORECLOSURE, INCLUDING ANY PENDING CASH LIQUIDATIONS 589,831.31
REMAINING SUBCLASS INTEREST SHORTFALL 0.00
CLASS A SHORTFALL (PRINCIPAL) 0.00
CLASS A SHORTFALL (INTEREST) 0.00
TOTAL PREPAYMENTS INCLUDED IN THIS DISTRIBUTION 3,624,812.02
TOTAL REPURCHASES INCLUDED IN THIS DISTRIBUTION 0.00
DISTRIBUTION PERCENTAGES:
SENIOR SUBORDINATE
PERCENTAGE FOR CURRENT DISTRIBUTION 98.91399930 % 1.08600070 %
CURRENT PREPAYMENT PERCENTAGE 100.00000000 % 0.00000000 %
PERCENTAGE FOR NEXT DISTRIBUTION 98.89426800 % 1.10573200 %
BANKRUPTCY AMOUNT AVAILABLE 0.00
FRAUD AMOUNT AVAILABLE 0.00
SPECIAL HAZARD AMOUNT AVAILABLE 0.00
ENDING GROSS WEIGHTED AVERAGE INTEREST RATE 9.33197364
ENDING WEIGHTED AVERAGE MATURITY, IN MONTHS 315.82
POOL TRADING FACTOR: 81.39404790
................................................................................
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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 20,293,383.36 6.000000 % 3,166,103.85
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 21,510,609.89 6.090000 % 935,161.06
R 0.53 2,026,594.48 0.000000 % 0.00
- -------------------------------------------------------------------------------
255,942,104.53 218,382,723.73 4,101,264.91
===============================================================================
_______________________________________________________________________________
REMAINING
INTEREST TOTAL DEFERRED REALIZED PRINCIPAL
DISTRIBUTION DISTRIBUTION INTEREST LOSSES BALANCE
_______________________________________________________________________________
A-I-1 101,466.92 3,267,570.77 0.00 0.00 17,127,279.51
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 112,805.22 1,047,966.28 0.00 0.00 20,575,448.83
R 372,805.99 372,805.99 0.00 0.00 2,026,594.48
- -------------------------------------------------------------------------------
1,555,395.46 5,656,660.37 0.00 0.00 214,281,458.82
===============================================================================
_______________________________________________________________________________
AMOUNTS PER $1,000 UNIT
_______________________________________________________________________________
BEGINNING ENDING
BALANCE PRINCIPAL INTEREST TOTAL DEFERRED BALANCE
CLASS FACTOR FACTOR FACTOR DISTRIBUTION INTEREST FACTOR
_______________________________________________________________________________
A-I- 390.144831 60.869054 1.950724 62.819778 0.000000 329.275776
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 732.276879 31.835305 3.840182 35.675487 0.000000 700.441574
_______________________________________________________________________________
DETERMINATION DATE 21-January-97
DISTRIBUTION DATE 27-January-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 47,275.38
SERVICING COMPENSATION RECEIVED BY MASTER SERVICER 2,743.32
SUBSERVICER ADVANCES THIS MONTH 84,581.04
MASTER SERVICER ADVANCES THIS MONTH 0.00
NUMBER OF PRINCIPAL
DELINQUENCIES: LOANS BALANCE
(A) ONE MONTHLY PAYMENT: 29 5,375,565.59
(B) TWO MONTHLY PAYMENTS: 14 2,667,548.01
(C) THREE OR MORE MONTHLY PAYMENTS: 7 1,526,626.86
FORECLOSURES
NUMBER OF LOANS 6
AGGREGATE PRINCIPAL BALANCE 1,135,783.68
SCHEDULED PRINCIPAL BALANCE OF MORTGAGE LOANS AFTER
DISTRIBUTION 214,281,458.82
AGGREGATE NUMBER OF LOANS IN THE POOL AS OF THE
DETERMINATION DATE 1,719
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 3,920,223.82
TOTAL REPURCHASES INCLUDED IN THIS DISTRIBUTION 0.00
DISTRIBUTION PERCENTAGES:
SENIOR SUBORDINATE
PERCENTAGE FOR CURRENT DISTRIBUTION 99.07199870 % 0.92800130 %
CURRENT PREPAYMENT PERCENTAGE 100.00000000 % 0.00000000 %
PERCENTAGE FOR NEXT DISTRIBUTION 99.05423710 % 0.94576290 %
BANKRUPTCY AMOUNT AVAILABLE 100,000.00
FRAUD AMOUNT AVAILABLE 7,678,263.00
SPECIAL HAZARD AMOUNT AVAILABLE 2,559,421.00
ENDING GROSS WEIGHTED AVERAGE INTEREST RATE 8.97768000
ENDING WEIGHTED AVERAGE MATURITY, IN MONTHS 326.51
POOL TRADING FACTOR: 83.72262907
................................................................................
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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 25,325,453.94 6.400000 % 1,183,139.51
A-2 76110FAT0 16,000,000.00 16,000,000.00 7.000000 % 0.00
A-3 76110FAU7 28,500,000.00 28,500,000.00 7.050000 % 0.00
A-4 76110FAV5 15,000,000.00 15,000,000.00 7.050000 % 0.00
A-5 76110FAW3 14,000,000.00 14,000,000.00 7.350000 % 0.00
A-6 76110FAX1 10,000,000.00 10,000,000.00 7.450000 % 0.00
A-7 76110FAY9 26,000,000.00 26,000,000.00 7.250000 % 0.00
A-8 76110FAZ6 14,043,411.00 14,043,411.00 7.500000 % 0.00
A-9 76110FBA0 18,190,000.00 18,190,000.00 7.500000 % 0.00
A-10 76110FBB8 178,007.00 176,081.06 0.000000 % 216.18
R 0.00 1,772,509.58 0.000000 % 0.00
- -------------------------------------------------------------------------------
181,911,418.00 169,007,455.58 1,183,355.69
===============================================================================
_______________________________________________________________________________
REMAINING
INTEREST TOTAL DEFERRED REALIZED PRINCIPAL
DISTRIBUTION DISTRIBUTION INTEREST LOSSES BALANCE
_______________________________________________________________________________
A-1 135,069.09 1,318,208.60 0.00 0.00 24,142,314.43
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 0.00 216.18 0.00 0.00 175,864.88
R 143,352.18 143,352.18 46,604.60 0.00 1,819,114.18
- -------------------------------------------------------------------------------
1,133,692.58 2,317,048.27 46,604.60 0.00 167,870,704.49
===============================================================================
_______________________________________________________________________________
AMOUNTS PER $1,000 UNIT
_______________________________________________________________________________
BEGINNING ENDING
BALANCE PRINCIPAL INTEREST TOTAL DEFERRED BALANCE
CLASS FACTOR FACTOR FACTOR DISTRIBUTION INTEREST FACTOR
_______________________________________________________________________________
A-1 633.136349 29.578488 3.376727 32.955215 0.000000 603.557861
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-10 989.180538 1.214447 0.000000 1.214447 0.000000 987.966091
_______________________________________________________________________________
DETERMINATION DATE 21-January-97
DISTRIBUTION DATE 27-January-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 35,314.22
SERVICING COMPENSATION RECEIVED BY MASTER SERVICER 8,232.13
SUBSERVICER ADVANCES THIS MONTH 55,272.90
MASTER SERVICER ADVANCES THIS MONTH 0.00
NUMBER OF PRINCIPAL
DELINQUENCIES: LOANS BALANCE
(A) ONE MONTHLY PAYMENT: 36 3,125,825.07
(B) TWO MONTHLY PAYMENTS: 6 765,574.36
(C) THREE OR MORE MONTHLY PAYMENTS: 3 696,091.93
FORECLOSURES
NUMBER OF LOANS 12
AGGREGATE PRINCIPAL BALANCE 2,053,550.25
SCHEDULED PRINCIPAL BALANCE OF MORTGAGE LOANS AFTER
DISTRIBUTION 167,870,704.49
AGGREGATE NUMBER OF LOANS IN THE POOL AS OF THE
DETERMINATION DATE 1,559
NUMBER OF REO LOANS ACQUIRED
INCLUDING ANY PENDING CASH LIQUIDATIONS 0
BOOK VALUE OF REAL ESTATE ACQUIRED THROUGH
FORECLOSURE OR GRANT OF A DEED IN LIEU OF
FORECLOSURE, INCLUDING ANY PENDING CASH LIQUIDATIONS 0.00
REMAINING SUBCLASS INTEREST SHORTFALL 0.00
CLASS A SHORTFALL (PRINCIPAL) 0.00
CLASS A SHORTFALL (INTEREST) 0.00
TOTAL PREPAYMENTS INCLUDED IN THIS DISTRIBUTION 992,447.72
TOTAL REPURCHASES INCLUDED IN THIS DISTRIBUTION 0.00
DISTRIBUTION PERCENTAGES:
SENIOR SUBORDINATE
PERCENTAGE FOR CURRENT DISTRIBUTION 98.95122400 % 1.04877600 %
CURRENT PREPAYMENT PERCENTAGE 100.00000000 % 0.00000000 %
PERCENTAGE FOR NEXT DISTRIBUTION 98.91636000 % 1.08364000 %
BANKRUPTCY AMOUNT AVAILABLE 0.00
FRAUD AMOUNT AVAILABLE 0.00
SPECIAL HAZARD AMOUNT AVAILABLE 0.00
ENDING GROSS WEIGHTED AVERAGE INTEREST RATE 8.79821778
ENDING WEIGHTED AVERAGE MATURITY, IN MONTHS 331.10
POOL TRADING FACTOR: 92.28156557
................................................................................
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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 33,261,944.89 6.780000 % 2,646,540.14
A-I- 76110FBD4 26,000,000.00 26,000,000.00 7.150000 % 0.00
A-I- 76110FBE2 10,596,000.00 10,596,000.00 7.290000 % 0.00
A-I- 76110FBF9 25,000,000.00 23,656,905.13 7.250000 % 370,534.15
A-I- 76110FBG7 18,587,000.00 18,587,000.00 7.460000 % 0.00
A-I- 76110FBH5 21,696,000.00 21,696,000.00 7.750000 % 0.00
A-I- 76110FBJ1 8,047,000.00 8,047,000.00 7.750000 % 0.00
A-I- 76110FBK8 17,436,000.00 17,436,000.00 7.750000 % 0.00
A-I- 76110FBL6 25,145,000.00 25,145,000.00 7.750000 % 0.00
A-I- 76110FBM4 19,000,000.00 19,000,000.00 7.750000 % 0.00
A-I- 76110FBN2 15,875,562.00 15,875,562.00 7.750000 % 0.00
A-II 76110FBP7 20,551,438.00 19,387,693.63 7.750000 % 67,874.83
A-P 76110FBQ5 1,166,695.86 1,136,921.18 0.000000 % 10,583.11
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 12,469,247.75 7.750000 % 10,195.34
M-2 76110FBU6 5,568,000.00 5,541,666.72 7.750000 % 4,531.08
M-3 76110FBV4 4,176,000.00 4,156,250.04 7.750000 % 3,398.31
B-1 1,809,600.00 1,801,041.68 7.750000 % 1,472.60
B-2 696,000.00 692,708.34 7.750000 % 566.39
B-3 1,670,738.96 1,662,837.34 7.750000 % 1,359.60
SPRE 0.00 0.00 0.743802 % 0.00
STRI 0.00 0.00 0.000000 % 0.00
- -------------------------------------------------------------------------------
278,404,734.82 266,149,778.70 3,117,055.55
===============================================================================
_______________________________________________________________________________
REMAINING
INTEREST TOTAL DEFERRED REALIZED PRINCIPAL
DISTRIBUTION DISTRIBUTION INTEREST LOSSES BALANCE
_______________________________________________________________________________
A-I-1 187,896.22 2,834,436.36 0.00 0.00 30,615,404.75
A-I-2 154,888.83 154,888.83 0.00 0.00 26,000,000.00
A-I-3 64,359.13 64,359.13 0.00 0.00 10,596,000.00
A-I-4 142,901.46 513,435.61 0.00 0.00 23,286,370.98
A-I-5 115,528.42 115,528.42 0.00 0.00 18,587,000.00
A-I-6 140,094.82 140,094.82 0.00 0.00 21,696,000.00
A-I-7 51,960.87 51,960.87 0.00 0.00 8,047,000.00
A-I-8 112,587.27 112,587.27 0.00 0.00 17,436,000.00
A-I-9 162,365.61 162,365.61 0.00 0.00 25,145,000.00
A-I-10 122,686.28 122,686.28 0.00 0.00 19,000,000.00
A-I-11 102,511.25 102,511.25 0.00 0.00 15,875,562.00
A-II 125,189.69 193,064.52 0.00 0.00 19,319,818.80
A-P 0.00 10,583.11 0.00 0.00 1,126,338.07
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 80,516.09 90,711.43 0.00 0.00 12,459,052.41
M-2 35,783.50 40,314.58 0.00 0.00 5,537,135.64
M-3 26,837.63 30,235.94 0.00 0.00 4,152,851.73
B-1 11,629.64 13,102.24 0.00 0.00 1,799,569.08
B-2 4,472.94 5,039.33 0.00 0.00 692,141.95
B-3 10,737.23 12,096.83 0.00 0.00 1,661,477.73
SPRED 164,939.33 164,939.33 0.00 0.00 0.00
STRIP 58,286.96 58,286.96 0.00 0.00 0.00
- -------------------------------------------------------------------------------
1,876,173.17 4,993,228.72 0.00 0.00 263,032,723.14
===============================================================================
Run: 01/31/97 11:56:32
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- 776.150855 61.755691 4.384464 66.140155 0.000000 714.395164
A-I- 1000.000000 0.000000 5.957263 5.957263 0.000000 1000.000000
A-I- 1000.000000 0.000000 6.073908 6.073908 0.000000 1000.000000
A-I- 946.276205 14.821366 5.716058 20.537424 0.000000 931.454839
A-I- 1000.000000 0.000000 6.215550 6.215550 0.000000 1000.000000
A-I- 1000.000000 0.000000 6.457173 6.457173 0.000000 1000.000000
A-I- 1000.000000 0.000000 6.457173 6.457173 0.000000 1000.000000
A-I- 1000.000000 0.000000 6.457173 6.457173 0.000000 1000.000000
A-I- 1000.000000 0.000000 6.457173 6.457173 0.000000 1000.000000
A-I- 1000.000000 0.000000 6.457173 6.457173 0.000000 1000.000000
A-I- 1000.000000 0.000000 6.457173 6.457173 0.000000 1000.000000
A-II 943.374066 3.302680 6.091529 9.394209 0.000000 940.071386
A-P 974.479484 9.071014 0.000000 9.071014 0.000000 965.408471
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-1 995.270603 0.813772 6.426634 7.240406 0.000000 994.456831
M-2 995.270603 0.813772 6.426634 7.240406 0.000000 994.456832
M-3 995.270603 0.813772 6.426636 7.240408 0.000000 994.456832
B-1 995.270601 0.813771 6.426636 7.240407 0.000000 994.456830
B-2 995.270603 0.813779 6.426638 7.240417 0.000000 994.456825
B-3 995.270584 0.813772 6.426635 7.240407 0.000000 994.456809
_______________________________________________________________________________
DETERMINATION DATE 21-January-97
DISTRIBUTION DATE 27-January-97
Run: 01/31/97 11:56:33 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 55,741.39
SERVICING COMPENSATION RECEIVED BY MASTER SERVICER 12,743.15
SUBSERVICER ADVANCES THIS MONTH 40,723.38
MASTER SERVICER ADVANCES THIS MONTH 0.00
NUMBER OF PRINCIPAL
DELINQUENCIES: LOANS BALANCE
(A) ONE MONTHLY PAYMENT: 37 4,401,716.62
(B) TWO MONTHLY PAYMENTS: 7 621,770.18
(C) THREE OR MORE MONTHLY PAYMENTS: 0 0.00
FORECLOSURES
NUMBER OF LOANS 2
AGGREGATE PRINCIPAL BALANCE 126,628.53
SCHEDULED PRINCIPAL BALANCE OF MORTGAGE LOANS AFTER
DISTRIBUTION 263,032,723.14
AGGREGATE NUMBER OF LOANS IN THE POOL AS OF THE
DETERMINATION DATE 2,334
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 2,898,994.10
TOTAL REPURCHASES INCLUDED IN THIS DISTRIBUTION 0.00
DISTRIBUTION PERCENTAGES:
SENIOR CLASS M CLASS B
CURRENT DISTRIBUTION 89.68224840 % 8.32883100 % 1.56174740 %
PREPAYMENT PERCENT 89.51977360 % 0.00000000 % 10.48022640 %
NEXT DISTRIBUTION 89.95739320 % 8.42064041 % 1.58575320 %
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 8.78951600
ENDING WEIGHTED AVERAGE MATURITY, IN MONTHS 333.35
POOL TRADING FACTOR: 94.47853799
................................................................................
Run: 01/31/97 11:56:34 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 39,731,002.84 6.850000 % 1,340,242.90
A-I- 76110FBX0 26,945,000.00 24,677,919.00 11.000000 % 491,418.50
A-I- 76110FBY8 15,646,000.00 15,646,000.00 7.300000 % 0.00
A-I- 76110FBZ5 32,740,000.00 32,740,000.00 7.500000 % 0.00
A-I- 76110FCA9 10,023,000.00 10,023,000.00 7.700000 % 0.00
A-I- 76110FCB7 26,811,000.00 26,811,000.00 8.000000 % 0.00
A-I- 76110FCC5 18,046,000.00 18,046,000.00 8.000000 % 0.00
A-I- 76110FCD3 9,094,000.00 9,094,000.00 8.000000 % 0.00
A-I- 76110FCE1 10,284,000.00 10,284,000.00 8.000000 % 0.00
A-I- 76110FCF8 27,538,000.00 27,538,000.00 7.900000 % 0.00
A-II 76110FCG6 16,021,000.00 15,435,247.10 7.250000 % 254,357.24
A-II 76110FCH4 8,580,000.00 8,580,000.00 7.650000 % 0.00
A-P 76110FCJ0 3,039,637.99 3,008,131.22 0.000000 % 38,376.79
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 13,180,928.89 8.000000 % 11,932.38
M-2 76110FCN1 5,570,800.00 5,549,927.71 8.000000 % 5,024.22
M-3 76110FCP6 4,456,600.00 4,439,902.32 8.000000 % 4,019.34
B-1 76110FCR2 2,228,400.00 2,220,050.78 8.000000 % 2,009.76
B-2 76110FCS0 696,400.00 693,790.78 8.000000 % 628.07
B-3 76110FCT8 1,671,255.97 1,664,994.25 8.000000 % 1,507.28
STRI 0.00 0.00 0.110794 % 0.00
SPRE 0.00 0.00 0.779298 % 0.00
- -------------------------------------------------------------------------------
278,535,793.96 269,363,894.89 2,149,516.48
===============================================================================
_______________________________________________________________________________
REMAINING
INTEREST TOTAL DEFERRED REALIZED PRINCIPAL
DISTRIBUTION DISTRIBUTION INTEREST LOSSES BALANCE
_______________________________________________________________________________
A-I-1 226,685.13 1,566,928.03 0.00 0.00 38,390,759.94
A-I-2 226,101.87 717,520.37 0.00 0.00 24,186,500.50
A-I-3 95,132.54 95,132.54 0.00 0.00 15,646,000.00
A-I-4 204,523.34 204,523.34 0.00 0.00 32,740,000.00
A-I-5 64,282.30 64,282.30 0.00 0.00 10,023,000.00
A-I-6 178,651.20 178,651.20 0.00 0.00 26,811,000.00
A-I-7 120,246.90 120,246.90 0.00 0.00 18,046,000.00
A-I-8 60,596.55 60,596.55 0.00 0.00 9,094,000.00
A-I-9 68,525.94 68,525.94 0.00 0.00 10,284,000.00
A-I-10 181,201.76 181,201.76 0.00 0.00 27,538,000.00
A-II-1 93,208.29 347,565.53 0.00 0.00 15,180,889.86
A-II-2 54,670.33 54,670.33 0.00 0.00 8,580,000.00
A-P 0.00 38,376.79 0.00 0.00 2,969,754.43
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 87,829.20 99,761.58 0.00 0.00 13,168,996.51
M-2 36,981.14 42,005.36 0.00 0.00 5,544,903.49
M-3 29,584.64 33,603.98 0.00 0.00 4,435,882.98
B-1 14,792.99 16,802.75 0.00 0.00 2,218,041.02
B-2 4,622.97 5,251.04 0.00 0.00 693,162.71
B-3 11,094.45 12,601.73 0.00 0.00 1,663,486.96
STRIP 16,091.36 16,091.36 0.00 0.00 0.00
SPRED 174,842.10 174,842.10 0.00 0.00 0.00
- -------------------------------------------------------------------------------
1,949,665.00 4,099,181.48 0.00 0.00 267,214,378.40
===============================================================================
Run: 01/31/97 11:56:34
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- 865.335254 29.190288 4.937168 34.127456 0.000000 836.144965
A-I- 915.862646 18.237836 8.391237 26.629073 0.000000 897.624810
A-I- 1000.000000 0.000000 6.080311 6.080311 0.000000 1000.000000
A-I- 1000.000000 0.000000 6.246895 6.246895 0.000000 1000.000000
A-I- 1000.000000 0.000000 6.413479 6.413479 0.000000 1000.000000
A-I- 1000.000000 0.000000 6.663355 6.663355 0.000000 1000.000000
A-I- 1000.000000 0.000000 6.663355 6.663355 0.000000 1000.000000
A-I- 1000.000000 0.000000 6.663355 6.663355 0.000000 1000.000000
A-I- 1000.000000 0.000000 6.663355 6.663355 0.000000 1000.000000
A-I- 1000.000000 0.000000 6.580062 6.580062 0.000000 1000.000000
A-II 963.438431 15.876490 5.817882 21.694372 0.000000 947.561941
A-II 1000.000000 0.000000 6.371833 6.371833 0.000000 1000.000000
A-P 989.634697 12.625449 0.000000 12.625449 0.000000 977.009248
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-1 996.253270 0.901884 6.638389 7.540273 0.000000 995.351386
M-2 996.253269 0.901885 6.638389 7.540274 0.000000 995.351384
M-3 996.253269 0.901885 6.638388 7.540273 0.000000 995.351385
B-1 996.253267 0.901885 6.638391 7.540276 0.000000 995.351382
B-2 996.253274 0.901881 6.638383 7.540264 0.000000 995.351393
B-3 996.253285 0.901885 6.638391 7.540276 0.000000 995.351397
_______________________________________________________________________________
DETERMINATION DATE 21-January-97
DISTRIBUTION DATE 27-January-97
Run: 01/31/97 11:56:36 rept2.frg
Page: 3 of 3
RESIDENTIAL FUNDING CORPORATION (MASTER SERVICER)
RESIDENTIAL ACCREDIT LOANS, INC. (COMPANY)
MORTGAGE ASSET-BACKED PASS-THROUGH CERTIFICATES 1996-QS4 (POOL # 4216)
STATEMENT TO CERTIFICATEHOLDERS
ADDITIONAL RELATED INFORMATION FOR POOL 4216
_______________________________________________________________________________
SERVICING COMPENSATION RECEIVED BY SUB-SERVICER 56,081.69
SERVICING COMPENSATION RECEIVED BY MASTER SERVICER 12,741.76
SUBSERVICER ADVANCES THIS MONTH 44,855.45
MASTER SERVICER ADVANCES THIS MONTH 0.00
NUMBER OF PRINCIPAL
DELINQUENCIES: LOANS BALANCE
(A) ONE MONTHLY PAYMENT: 38 3,742,066.80
(B) TWO MONTHLY PAYMENTS: 10 1,492,951.73
(C) THREE OR MORE MONTHLY PAYMENTS: 2 225,423.39
FORECLOSURES
NUMBER OF LOANS 1
AGGREGATE PRINCIPAL BALANCE 35,949.19
SCHEDULED PRINCIPAL BALANCE OF MORTGAGE LOANS AFTER
DISTRIBUTION 267,214,378.40
AGGREGATE NUMBER OF LOANS IN THE POOL AS OF THE
DETERMINATION DATE 2,546
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 1,903,333.28
TOTAL REPURCHASES INCLUDED IN THIS DISTRIBUTION 0.00
DISTRIBUTION PERCENTAGES:
SENIOR CLASS M CLASS B
CURRENT DISTRIBUTION 88.58134790 % 8.60202800 % 1.69986990 %
PREPAYMENT PERCENT 100.00000000 % 0.00000000 % 0.00000000 %
NEXT DISTRIBUTION 89.50802740 % 8.66337475 % 1.73123320 %
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 9.01925000
ENDING WEIGHTED AVERAGE MATURITY, IN MONTHS 325.65
POOL TRADING FACTOR: 95.93538216
................................................................................
Run: 01/31/97 11:56:01 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 138,145,180.00 127,067,842.95 6.027970 % 2,579,504.40
R 973,833.13 1,649,805.30 0.000000 % 0.00
- -------------------------------------------------------------------------------
139,119,013.13 128,717,648.25 2,579,504.40
===============================================================================
_______________________________________________________________________________
REMAINING
INTEREST TOTAL DEFERRED REALIZED PRINCIPAL
DISTRIBUTION DISTRIBUTION INTEREST LOSSES BALANCE
_______________________________________________________________________________
A 680,624.63 3,260,129.03 0.00 0.00 124,488,338.55
R 0.00 0.00 104,663.93 0.00 1,754,469.23
- -------------------------------------------------------------------------------
680,624.63 3,260,129.03 104,663.93 0.00 126,242,807.78
===============================================================================
_______________________________________________________________________________
AMOUNTS PER $1,000 UNIT
_______________________________________________________________________________
BEGINNING ENDING
BALANCE PRINCIPAL INTEREST TOTAL DEFERRED BALANCE
CLASS FACTOR FACTOR FACTOR DISTRIBUTION INTEREST FACTOR
_______________________________________________________________________________
A 919.813800 18.672417 4.926879 23.599296 0.000000 901.141383
R 1694.135524 0.000000 0.000000 0.000000 107.476247 1801.611769
_______________________________________________________________________________
DETERMINATION DATE 21-January-97
DISTRIBUTION DATE 27-January-97
Run: 01/31/97 11:56:01 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 39,391.11
SERVICING COMPENSATION RECEIVED BY MASTER SERVICER 2,365.12
SUBSERVICER ADVANCES THIS MONTH 27,209.30
MASTER SERVICER ADVANCES THIS MONTH 0.00
NUMBER OF PRINCIPAL
DELINQUENCIES: LOANS BALANCE
(A) ONE MONTHLY PAYMENT: 22 2,736,816.36
(B) TWO MONTHLY PAYMENTS: 3 1,062,290.58
(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 126,242,807.78
AGGREGATE NUMBER OF LOANS IN THE POOL AS OF THE
DETERMINATION DATE 1,168
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 2,243,817.91
TOTAL REPURCHASES INCLUDED IN THIS DISTRIBUTION 58,083.37
DISTRIBUTION PERCENTAGES:
SENIOR SUBORDINATE
PERCENTAGE FOR CURRENT DISTRIBUTION 98.71827580 % 1.28172420 %
CURRENT PREPAYMENT PERCENTAGE 100.00000000 % 0.00000000 %
PERCENTAGE FOR NEXT DISTRIBUTION 98.61024220 % 1.38975780 %
BANKRUPTCY AMOUNT AVAILABLE 100,000.00
FRAUD AMOUNT AVAILABLE 4,173,570.00
SPECIAL HAZARD AMOUNT AVAILABLE 1,881,824.00
ENDING GROSS WEIGHTED AVERAGE INTEREST RATE 7.94528893
ENDING WEIGHTED AVERAGE MATURITY, IN MONTHS 300.59
POOL TRADING FACTOR: 90.74446759
................................................................................
Run: 01/31/97 11:56:37 REPT1B.FRG
Page: 1 of 3
RESIDENTIAL FUNDING CORPORATION (MASTER SERVICER)
RESIDENTIAL ACCREDIT LOANS, INC. (COMPANY)
MORTGAGE ASSET-BACKED PASS-THROUGH CERTIFICATES SERIES 1996-QS5 (POOL # 4222)
STATEMENT TO CERTIFICATEHOLDERS
DISTRIBUTION SUMMARY FOR POOL# 4222
_______________________________________________________________________________
PRINCIPAL CURRENT
ORIGINAL BALANCE BEFORE PASS-THROUGH PRINCIPAL
CLASS CUSIP FACE VALUE DISTRIBUTION RATE DISTRIBUTION
_______________________________________________________________________________
A-I- 76110FCU5 23,848,000.00 22,282,195.93 9.500000 % 918,581.73
A-I- 76110FCV3 25,000,000.00 24,067,354.20 7.600000 % 547,138.31
A-I- 76110FCW1 12,373,000.00 10,909,509.01 6.650000 % 858,559.58
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 10,642,768.83 8.000000 % 46,089.84
A-II 76110FDF7 4,525,000.00 4,525,000.00 8.000000 % 0.00
A-P 76110FDG5 1,105,878.69 1,098,293.51 0.000000 % 1,254.34
R 76110FDH3 100.00 0.00 8.000000 % 0.00
M-1 76110FDJ9 7,918,500.00 7,900,207.48 8.000000 % 6,209.41
M-2 76110FDK6 3,958,800.00 3,949,654.78 8.000000 % 3,104.35
M-3 76110FDL4 2,815,100.00 2,808,596.84 8.000000 % 2,207.50
B-1 76110FDM2 1,407,600.00 1,404,348.31 8.000000 % 1,103.79
B-2 76110FDN0 439,800.00 438,784.02 8.000000 % 344.88
B-3 76110FDP5 1,055,748.52 1,053,309.61 8.000000 % 827.88
SPRE 0.00 0.00 0.897835 % 0.00
- -------------------------------------------------------------------------------
175,944,527.21 171,415,022.52 2,385,421.61
===============================================================================
_______________________________________________________________________________
REMAINING
INTEREST TOTAL DEFERRED REALIZED PRINCIPAL
DISTRIBUTION DISTRIBUTION INTEREST LOSSES BALANCE
_______________________________________________________________________________
A-I-1 176,327.78 1,094,909.51 0.00 0.00 21,363,614.20
A-I-2 152,363.55 699,501.86 0.00 0.00 23,520,215.89
A-I-3 60,431.86 918,991.44 0.00 0.00 10,050,949.43
A-I-4 44,060.94 44,060.94 0.00 0.00 7,100,000.00
A-I-5 64,174.45 64,174.45 0.00 0.00 10,137,000.00
A-I-6 36,112.06 36,112.06 0.00 0.00 5,558,000.00
A-I-7 112,793.34 112,793.34 0.00 0.00 16,926,000.00
A-I-8 45,874.35 45,874.35 0.00 0.00 6,884,000.00
A-I-9 74,829.05 74,829.05 0.00 0.00 11,229,000.00
A-I-10 149,944.64 149,944.64 0.00 0.00 22,501,000.00
A-II-1 70,922.45 117,012.29 0.00 0.00 10,596,678.99
A-II-2 30,154.20 30,154.20 0.00 0.00 4,525,000.00
A-P 0.00 1,254.34 0.00 0.00 1,097,039.17
R 0.00 0.00 0.00 0.00 0.00
M-1 52,646.27 58,855.68 0.00 0.00 7,893,998.07
M-2 26,320.14 29,424.49 0.00 0.00 3,946,550.43
M-3 18,716.24 20,923.74 0.00 0.00 2,806,389.34
B-1 9,358.45 10,462.24 0.00 0.00 1,403,244.52
B-2 2,924.02 3,268.90 0.00 0.00 438,439.14
B-3 7,019.16 7,847.04 0.00 0.00 1,052,481.74
SPRED 128,198.99 128,198.99 0.00 0.00 0.00
- -------------------------------------------------------------------------------
1,263,171.94 3,648,593.55 0.00 0.00 169,029,600.92
===============================================================================
Run: 01/31/97 11:56:37
Page: 2 of 3
RESIDENTIAL FUNDING CORPORATION (MASTER SERVICER)
RESIDENTIAL ACCREDIT LOANS, INC. (COMPANY)
MORTGAGE ASSET-BACKED PASS-THROUGH CERTIFICATES SERIES 1996-QS5 (POOL # 4222)
STATEMENT TO CERTIFICATEHOLDERS
DISTRIBUTION SUMMARY FOR POOL# 4222
_______________________________________________________________________________
AMOUNTS PER $1,000 UNIT
_______________________________________________________________________________
BEGINNING ENDING
BALANCE PRINCIPAL INTEREST TOTAL DEFERRED BALANCE
CLASS FACTOR FACTOR FACTOR DISTRIBUTION INTEREST FACTOR
_______________________________________________________________________________
A-I- 934.342332 38.518187 7.393818 45.912005 0.000000 895.824145
A-I- 962.694168 21.885532 6.094542 27.980074 0.000000 940.808636
A-I- 881.718986 69.389766 4.884172 74.273938 0.000000 812.329219
A-I- 1000.000000 0.000000 6.205766 6.205766 0.000000 1000.000000
A-I- 1000.000000 0.000000 6.330714 6.330714 0.000000 1000.000000
A-I- 1000.000000 0.000000 6.497312 6.497312 0.000000 1000.000000
A-I- 1000.000000 0.000000 6.663910 6.663910 0.000000 1000.000000
A-I- 1000.000000 0.000000 6.663909 6.663909 0.000000 1000.000000
A-I- 1000.000000 0.000000 6.663910 6.663910 0.000000 1000.000000
A-I- 1000.000000 0.000000 6.663910 6.663910 0.000000 1000.000000
A-II 953.482246 4.129174 6.353920 10.483094 0.000000 949.353072
A-II 1000.000000 0.000000 6.663912 6.663912 0.000000 1000.000000
A-P 993.141038 1.134248 0.000000 1.134248 0.000000 992.006789
R 0.000000 0.000000 0.000000 0.000000 0.000000 0.000000
M-1 997.689901 0.784165 6.648516 7.432681 0.000000 996.905736
M-2 997.689901 0.784164 6.648515 7.432679 0.000000 996.905737
M-3 997.689901 0.784164 6.648517 7.432681 0.000000 996.905737
B-1 997.689905 0.784165 6.648515 7.432680 0.000000 996.905740
B-2 997.689905 0.784175 6.648522 7.432697 0.000000 996.905730
B-3 997.689876 0.784164 6.648515 7.432679 0.000000 996.905723
_______________________________________________________________________________
DETERMINATION DATE 21-January-97
DISTRIBUTION DATE 27-January-97
Run: 01/31/97 11:56:38 rept2.frg
Page: 3 of 3
RESIDENTIAL FUNDING CORPORATION (MASTER SERVICER)
RESIDENTIAL ACCREDIT LOANS, INC. (COMPANY)
MORTGAGE ASSET-BACKED PASS-THROUGH CERTIFICATES 1996-QS5 (POOL # 4222)
STATEMENT TO CERTIFICATEHOLDERS
ADDITIONAL RELATED INFORMATION FOR POOL 4222
_______________________________________________________________________________
SERVICING COMPENSATION RECEIVED BY SUB-SERVICER 35,521.47
SERVICING COMPENSATION RECEIVED BY MASTER SERVICER 3,660.13
SUBSERVICER ADVANCES THIS MONTH 27,767.57
MASTER SERVICER ADVANCES THIS MONTH 0.00
NUMBER OF PRINCIPAL
DELINQUENCIES: LOANS BALANCE
(A) ONE MONTHLY PAYMENT: 33 2,858,213.75
(B) TWO MONTHLY PAYMENTS: 5 366,866.89
(C) THREE OR MORE MONTHLY PAYMENTS: 1 118,143.29
FORECLOSURES
NUMBER OF LOANS 0
AGGREGATE PRINCIPAL BALANCE 0.00
SCHEDULED PRINCIPAL BALANCE OF MORTGAGE LOANS AFTER
DISTRIBUTION 169,029,600.92
AGGREGATE NUMBER OF LOANS IN THE POOL AS OF THE
DETERMINATION DATE 1,599
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 2,250,196.44
TOTAL REPURCHASES INCLUDED IN THIS DISTRIBUTION 0.00
DISTRIBUTION PERCENTAGES:
SENIOR CLASS M CLASS B
CURRENT DISTRIBUTION 89.11810980 % 8.55144400 % 1.68972470 %
PREPAYMENT PERCENT 100.00000000 % 0.00000000 % 0.00000000 %
NEXT DISTRIBUTION 89.55467420 % 8.66530937 % 1.72340930 %
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 9.17107300
ENDING WEIGHTED AVERAGE MATURITY, IN MONTHS 332.57
POOL TRADING FACTOR: 96.06982587
................................................................................
Run: 01/31/97 11:56:39 REPT1B.FRG
Page: 1 of 3
RESIDENTIAL FUNDING CORPORATION (MASTER SERVICER)
RESIDENTIAL ACCREDIT LOANS, INC. (COMPANY)
MORTGAGE ASSET-BACKED PASS-THROUGH CERTIFICATES SERIES 1996-QS7 (POOL # 4228)
STATEMENT TO CERTIFICATEHOLDERS
DISTRIBUTION SUMMARY FOR POOL# 4228
_______________________________________________________________________________
PRINCIPAL CURRENT
ORIGINAL BALANCE BEFORE PASS-THROUGH PRINCIPAL
CLASS CUSIP FACE VALUE DISTRIBUTION RATE DISTRIBUTION
_______________________________________________________________________________
A-I- 76110FDQ3 20,106,154.00 19,709,201.64 7.050000 % 985,362.75
A-I- 76110FDR1 43,322,483.00 42,945,378.26 6.064060 % 936,094.60
A-I- 76110FDS9 0.00 0.00 2.935940 % 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- 76110OFDV 0.00 0.00 8.000000 % 0.00
A-I- 76110OFDW 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 20,027,901.94 8.000000 % 178,677.85
A-P 76110FED1 601,147.92 600,032.79 0.000000 % 1,051.93
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 9,107,490.35 8.000000 % 7,168.63
M-2 76110FEH2 5,126,400.00 5,122,401.26 8.000000 % 4,031.91
M-3 76110FEJ8 3,645,500.00 3,642,656.40 8.000000 % 2,867.19
B-1 1,822,700.00 1,821,278.24 8.000000 % 1,433.55
B-2 569,600.00 569,155.70 8.000000 % 447.99
B-3 1,366,716.75 1,365,650.67 8.000000 % 1,074.90
SPRE 0.00 0.00 0.828102 % 0.00
- -------------------------------------------------------------------------------
227,839,864.67 226,971,510.25 2,118,211.30
===============================================================================
_______________________________________________________________________________
REMAINING
INTEREST TOTAL DEFERRED REALIZED PRINCIPAL
DISTRIBUTION DISTRIBUTION INTEREST LOSSES BALANCE
_______________________________________________________________________________
A-I-1 115,730.16 1,101,092.91 0.00 0.00 18,723,838.89
A-I-2 216,904.39 1,152,998.99 0.00 0.00 42,009,283.66
A-I-3 105,015.17 105,015.17 0.00 0.00 0.00
A-I-4 79,110.53 79,110.53 0.00 0.00 13,330,948.00
A-I-5 158,083.00 158,083.00 0.00 0.00 24,973,716.00
A-I-6 495.02 495.02 0.00 0.00 0.00
A-I-7 6,413.27 6,413.27 0.00 0.00 1,000,000.00
A-I-8 61,180.61 61,180.61 0.00 0.00 9,539,699.00
A-I-9 150,093.70 150,093.70 0.00 0.00 22,526,000.00
A-I-10 77,625.49 77,625.49 0.00 0.00 11,650,000.00
A-I-11 202,699.13 202,699.13 0.00 0.00 30,421,000.00
A-I-12 57,429.53 57,429.53 0.00 0.00 8,619,000.00
A-II 133,448.55 312,126.40 0.00 0.00 19,849,224.09
A-P 0.00 1,051.93 0.00 0.00 598,980.86
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 60,684.41 67,853.04 0.00 0.00 9,100,321.72
M-2 34,131.23 38,163.14 0.00 0.00 5,118,369.35
M-3 24,271.50 27,138.69 0.00 0.00 3,639,789.21
B-1 12,135.41 13,568.96 0.00 0.00 1,819,844.69
B-2 3,792.36 4,240.35 0.00 0.00 568,707.71
B-3 9,099.51 10,174.41 0.00 0.00 1,364,575.73
SPRED 156,546.56 156,546.56 0.00 0.00 0.00
- -------------------------------------------------------------------------------
1,664,889.53 3,783,100.83 0.00 0.00 224,853,298.91
===============================================================================
Run: 01/31/97 11:56:39
Page: 2 of 3
RESIDENTIAL FUNDING CORPORATION (MASTER SERVICER)
RESIDENTIAL ACCREDIT LOANS, INC. (COMPANY)
MORTGAGE ASSET-BACKED PASS-THROUGH CERTIFICATES SERIES 1996-QS7 (POOL # 4228)
STATEMENT TO CERTIFICATEHOLDERS
DISTRIBUTION SUMMARY FOR POOL# 4228
_______________________________________________________________________________
AMOUNTS PER $1,000 UNIT
_______________________________________________________________________________
BEGINNING ENDING
BALANCE PRINCIPAL INTEREST TOTAL DEFERRED BALANCE
CLASS FACTOR FACTOR FACTOR DISTRIBUTION INTEREST FACTOR
_______________________________________________________________________________
A-I- 980.257171 49.008018 5.755957 54.763975 0.000000 931.249153
A-I- 991.295403 21.607593 5.006740 26.614333 0.000000 969.687810
A-I- 1000.000000 0.000000 5.934351 5.934351 0.000000 1000.000000
A-I- 1000.000000 0.000000 6.329975 6.329975 0.000000 1000.000000
A-I- 1000.000000 0.000000 6.413270 6.413270 0.000000 1000.000000
A-I- 1000.000000 0.000000 6.413264 6.413264 0.000000 1000.000000
A-I- 1000.000000 0.000000 6.663131 6.663131 0.000000 1000.000000
A-I- 1000.000000 0.000000 6.663132 6.663132 0.000000 1000.000000
A-I- 1000.000000 0.000000 6.663132 6.663132 0.000000 1000.000000
A-I- 1000.000000 0.000000 6.663131 6.663131 0.000000 1000.000000
A-II 996.214780 8.887677 6.637910 15.525587 0.000000 987.327104
A-P 998.144999 1.749869 0.000000 1.749869 0.000000 996.395130
R-I 0.000000 0.000000 0.000000 0.000000 0.000000 0.000000
R-II 0.000000 0.000000 0.000000 0.000000 0.000000 0.000000
M-1 999.219971 0.786500 6.657935 7.444435 0.000000 998.433472
M-2 999.219971 0.786499 6.657933 7.444432 0.000000 998.433472
M-3 999.219970 0.786501 6.657934 7.444435 0.000000 998.433469
B-1 999.219970 0.786498 6.657931 7.444429 0.000000 998.433472
B-2 999.219979 0.786499 6.657935 7.444434 0.000000 998.433480
B-3 999.219970 0.786483 6.657934 7.444417 0.000000 998.433458
_______________________________________________________________________________
DETERMINATION DATE 21-January-97
DISTRIBUTION DATE 27-January-97
Run: 01/31/97 11:56:40 rept2.frg
Page: 3 of 3
RESIDENTIAL FUNDING CORPORATION (MASTER SERVICER)
RESIDENTIAL ACCREDIT LOANS, INC. (COMPANY)
MORTGAGE ASSET-BACKED PASS-THROUGH CERTIFICATES 1996-QS7 (POOL # 4228)
STATEMENT TO CERTIFICATEHOLDERS
ADDITIONAL RELATED INFORMATION FOR POOL 4228
_______________________________________________________________________________
SERVICING COMPENSATION RECEIVED BY SUB-SERVICER 47,173.31
SERVICING COMPENSATION RECEIVED BY MASTER SERVICER 9,090.38
SUBSERVICER ADVANCES THIS MONTH 68,276.90
MASTER SERVICER ADVANCES THIS MONTH 0.00
NUMBER OF PRINCIPAL
DELINQUENCIES: LOANS BALANCE
(A) ONE MONTHLY PAYMENT: 79 7,583,033.97
(B) TWO MONTHLY PAYMENTS: 6 845,508.14
(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 224,853,298.91
AGGREGATE NUMBER OF LOANS IN THE POOL AS OF THE
DETERMINATION DATE 2,088
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 1,939,215.32
TOTAL REPURCHASES INCLUDED IN THIS DISTRIBUTION 0.00
DISTRIBUTION PERCENTAGES:
SENIOR CLASS M CLASS B
CURRENT DISTRIBUTION 90.20640720 % 7.87435700 % 1.65487050 %
PREPAYMENT PERCENT 100.00000000 % 0.00000000 % 0.00000000 %
NEXT DISTRIBUTION 90.36290200 % 7.94228075 % 1.67360350 %
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 9.13358300
ENDING WEIGHTED AVERAGE MATURITY, IN MONTHS 335.27
POOL TRADING FACTOR: 98.68918209
................................................................................
Run: 01/31/97 11:56:11 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 4,000,000.00 7.400000 % 45,891.45
A-2 7611OFEL3 4,074,824.00 4,074,824.00 7.300000 % 109,868.01
A-3 76110FEM1 13,128,206.00 13,128,206.00 7.050000 % 0.00
A-4 7611OFEN9 3,765,148.00 3,765,148.00 7.300000 % 0.00
A-5 7611OFEP4 10,500,000.00 10,500,000.00 7.400000 % 0.00
A-6 7611OFEQ2 2,600,500.00 2,600,500.00 7.400000 % 0.00
A-7 7611OFER0 31,579,563.00 31,579,563.00 5.875000 % 319,646.19
A-8 7611OFES8 0.00 0.00 3.125000 % 0.00
A-9 7611OFET6 32,965,000.00 32,965,000.00 0.000000 % 792,675.23
A-10 7611OFEU3 20,953,719.00 20,953,719.00 7.400000 % 15,399.60
A-11 7611OFEV1 13,975,000.00 13,975,000.00 7.750000 % 0.00
A-12 7611OFEW9 2,000,000.00 2,000,000.00 7.750000 % 0.00
A-13 7611OFEX7 20,646,958.00 20,646,958.00 7.750000 % 0.00
A-14 7611OFEY5 115,824.70 115,824.70 0.000000 % 256.87
R-I 76110FEZ2 100.00 100.00 7.750000 % 100.00
R-II 7611OFFA6 100.00 100.00 7.750000 % 100.00
M-1 7611OFFB4 6,661,000.00 6,661,000.00 7.750000 % 3,851.71
M-2 7611OFFC2 4,440,700.00 4,440,700.00 7.750000 % 2,567.82
M-3 7611OFFD0 3,108,500.00 3,108,500.00 7.750000 % 1,797.48
B-1 1,509,500.00 1,509,500.00 7.750000 % 872.86
B-2 444,000.00 444,000.00 7.750000 % 256.74
B-3 1,154,562.90 1,154,562.90 7.750000 % 667.66
SPRE 0.00 0.00 0.914237 % 0.00
- -------------------------------------------------------------------------------
177,623,205.60 177,623,205.60 1,293,951.62
===============================================================================
_______________________________________________________________________________
REMAINING
INTEREST TOTAL DEFERRED REALIZED PRINCIPAL
DISTRIBUTION DISTRIBUTION INTEREST LOSSES BALANCE
_______________________________________________________________________________
A-1 24,659.35 70,550.80 0.00 0.00 3,954,108.55
A-2 24,781.16 134,649.17 0.00 0.00 3,964,955.99
A-3 77,105.33 77,105.33 0.00 0.00 13,128,206.00
A-4 22,897.85 22,897.85 0.00 0.00 3,765,148.00
A-5 64,730.79 64,730.79 0.00 0.00 10,500,000.00
A-6 16,031.66 16,031.66 0.00 0.00 2,600,500.00
A-7 154,562.41 474,208.60 0.00 0.00 31,259,916.81
A-8 82,214.05 82,214.05 0.00 0.00 0.00
A-9 201,640.99 994,316.22 0.00 0.00 32,172,324.77
A-10 129,176.27 144,575.87 0.00 0.00 20,938,319.40
A-11 90,228.43 90,228.43 0.00 0.00 13,975,000.00
A-12 12,912.84 12,912.84 0.00 0.00 2,000,000.00
A-13 133,305.38 133,305.38 0.00 0.00 20,646,958.00
A-14 0.00 256.87 0.00 0.00 115,567.83
R-I 0.65 100.65 0.00 0.00 0.00
R-II 0.65 100.65 0.00 0.00 0.00
M-1 43,006.20 46,857.91 0.00 0.00 6,657,148.29
M-2 28,671.01 31,238.83 0.00 0.00 4,438,132.18
M-3 20,069.77 21,867.25 0.00 0.00 3,106,702.52
B-1 9,745.96 10,618.82 0.00 0.00 1,508,627.14
B-2 2,866.65 3,123.39 0.00 0.00 443,743.26
B-3 7,454.34 8,122.00 0.00 0.00 1,153,895.24
SPRED 135,284.57 135,284.57 0.00 0.00 0.00
- -------------------------------------------------------------------------------
1,281,346.31 2,575,297.93 0.00 0.00 176,329,253.98
===============================================================================
Run: 01/31/97 11:56:11
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 1000.000000 11.472862 6.164838 17.637700 0.000000 988.527138
A-2 1000.000000 26.962639 6.081529 33.044168 0.000000 973.037361
A-3 1000.000000 0.000000 5.873257 5.873257 0.000000 1000.000000
A-4 1000.000000 0.000000 6.081527 6.081527 0.000000 1000.000000
A-5 1000.000000 0.000000 6.164837 6.164837 0.000000 1000.000000
A-6 1000.000000 0.000000 6.164838 6.164838 0.000000 1000.000000
A-7 1000.000000 10.121932 4.894381 15.016313 0.000000 989.878068
A-9 1000.000000 24.045965 6.116821 30.162786 0.000000 975.954035
A-10 1000.000000 0.734934 6.164837 6.899771 0.000000 999.265066
A-11 1000.000000 0.000000 6.456417 6.456417 0.000000 1000.000000
A-12 1000.000000 0.000000 6.456420 6.456420 0.000000 1000.000000
A-13 1000.000000 0.000000 6.456417 6.456417 0.000000 1000.000000
A-14 1000.000000 2.217748 0.000000 2.217748 0.000000 997.782252
R-I 1000.000000 1000.00000 6.500000 1006.500000 0.000000 0.000000
R-II 1000.000000 1000.00000 6.500000 1006.500000 0.000000 0.000000
M-1 1000.000000 0.578248 6.456418 7.034666 0.000000 999.421752
M-2 1000.000000 0.578247 6.456417 7.034664 0.000000 999.421753
M-3 1000.000000 0.578247 6.456416 7.034663 0.000000 999.421753
B-1 1000.000000 0.578244 6.456416 7.034660 0.000000 999.421756
B-2 1000.000000 0.578243 6.456419 7.034662 0.000000 999.421757
B-3 1000.000000 0.578245 6.456417 7.034662 0.000000 999.421723
_______________________________________________________________________________
DETERMINATION DATE 21-January-97
DISTRIBUTION DATE 27-January-97
Run: 01/31/97 11:56:12 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 37,023.52
SERVICING COMPENSATION RECEIVED BY MASTER SERVICER 10,740.55
SUBSERVICER ADVANCES THIS MONTH 52,660.89
MASTER SERVICER ADVANCES THIS MONTH 0.00
NUMBER OF PRINCIPAL
DELINQUENCIES: LOANS BALANCE
(A) ONE MONTHLY PAYMENT: 59 6,664,429.33
(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 176,329,253.99
AGGREGATE NUMBER OF LOANS IN THE POOL AS OF THE
DETERMINATION DATE 1,627
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 1,191,185.34
TOTAL REPURCHASES INCLUDED IN THIS DISTRIBUTION 0.00
DISTRIBUTION PERCENTAGES:
SENIOR CLASS M CLASS B
CURRENT DISTRIBUTION 90.24363790 % 8.00541400 % 1.75094850 %
PREPAYMENT PERCENT 100.00000000 % 0.00000000 % 0.00000000 %
NEXT DISTRIBUTION 90.17769330 % 8.05424095 % 1.76278340 %
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 8.98949865
ENDING WEIGHTED AVERAGE MATURITY, IN MONTHS 353.89
POOL TRADING FACTOR: 99.27151883
................................................................................
