Contract


   1


Sequoia Mortgage Trust              Contact: Customer Service
Mortgage Pass-Through Certificates           Norwest Bank Minnesota, N.A.
                                             Securities Administration Services
Record Date:       31-July-1998              7485 New Horizon Way
Distribution Date: 25-Aug-1998               Frederick, MD  21703
                                             Telephone:          (301) 846-8130
                                             Facsimile:          (301) 846-8152


                                  EXHIBIT 10.1

                     Certificateholder Distribution Summary

============ ========= =========== =========== ============== ============ ============= Certificate Certificate Pass- Beginning Class Through Certificate Interest Principal Class CUSIP Description Rate Balance Distribution Distribution ============ ========= =========== =========== ============== ============ ============= A-1 81743NAA9 SEQ 6.37000% 217,933,457.24 1,156,863.43 11,004,157.29 A-2 81743NAB7 SEQ 6.34000% 95,000,000.00 501,916.66 0.00 A-3 81743NAC5 SEQ 6.35000% 164,200,000.00 868,891.66 0.00 A-4 81743NAD3 SEQ 6.25000% 121,922,720.00 635,014.16 0.00 APO 81743NAJ0 PO 0.00000% 3,005,965.84 0.00 2,882.17 A-IO 81743NAP6 WIO 0.00250% 0.00 1,226.56 0.00 AX-1 81743NAE1 IO 0.48381% 0.00 87,865.46 0.00 AX-2 81743NAF8 IO 0.51381% 0.00 40,676.68 0.00 AX-3 81743NAG6 IO 0.50381% 0.00 68,938.10 0.00 AX-4 81743NAH4 IO 0.60381% 0.00 61,348.54 0.00 A-R 81743NAK7 R 0.00000% 0.00 0.03 0.00 A-RLT SMT983ARL ALR 0.00000% 0.00 0.00 0.00 M-1 81743NAL5 MEZ 6.85381% 16,127,300.00 92,1111.22 0.00 M-2 81743NAM3 MEZ 6.85381% 7,741,100.00 44,213.36 0.00 M-3 81743NAN1 SUB 6.85381% 4,838,200.00 27,633.42 0.00 B-1 81743NAQ4 SUB 6.85381% 2,580,400.00 14,737.98 0.00 B-2 81743NAR2 SUB 6.85381% 1,935,300.00 11,053.48 0.00 B-3 81743NAS0 SUB 6.85381% 2,257,929.46 12,896.18 0.00 ============ ========= =========== =========== ============== ============ ============= Totals 637,542,372.54 3,625,386.92 11,007,039.46 ============ ========= =========== =========== ============== ============ ============= ============ ========== =============== ============== ========= Current Ending Cumulative Realized Certificate Total Realized Class Loss Balance Distribution Losses ============ ========== =============== ============== ========= A-1 0.00 206,929,299.95 12,161,020.72 0.00 A-2 0.00 95,000,000.00 501,916.66 0.00 A-3 0.00 164,200,000.00 868,891.66 0.00 A-4 0.00 121,922,720.00 635,014.16 0.00 APO 0.00 3,003,083.67 2,882.17 0.00 A-IO 0.00 0.00 1,226.56 0.00 AX-1 0.00 0.00 87,865.46 0.00 AX-2 0.00 0.00 40,676.68 0.00 AX-3 0.00 0.00 68,938.10 0.00 AX-4 0.00 0.00 61,348.54 0.00 A-R 0.00 0.00 0.03 0.00 A-RLT 0.00 0.00 0.00 0.00 M-1 0.00 16,127,300.00 92,111.22 0.00 M-2 0.00 7,741,100.00 44,213.36 0.00 M-3 0.00 4,838,200.00 27,633.42 0.00 B-1 0.00 2,580,400.00 14,737.98 0.00 B-2 0.00 1,935,300.00 11,053.48 0.00 B-3 0.00 2,257,929.46 12,896.18 0.00 ============ ======== =============== ============== ======= Totals 0.00 626,535,333.08 14,632,426.38 0.00 ============ ============== ======== =============== ============== =======
All distributions required by the Pooling and Servicing Agreement have been calculated by the Certificate Administrator on behalf of the Trustee 2 Sequoia Mortgage Trust Contact: Customer Service Mortgage Pass-Through Certificates Norwest Bank Minnesota, N.A. Securities Administration Services Record Date: 31-July-1998 7485 New Horizon Way Distribution Date: 25-Aug-1998 Frederick, MD 21703 Telephone: (301) 846-8130 Facsimile: (301) 846-8152 Principal Distribution Statement
=========== ============== =============== ============== =============== =========== Beginning Scheduled Unscheduled Original Certificate Principal Principal Class Face Amount Balance Distribution Distribution Accretion =========== ============== =============== ============== =============== =========== A-1 225,459,000.00 217,933,457.24 0.00 11,004,157.29 0.00 A-2 95,000,000.00 95,000,000.00 0.00 0.00 0.00 A-3 164,200,000.00 164,200,000.00 0.00 0.00 0.00 A-4 121,922,720.00 121,922,720.00 0.00 0.00 0.00 APO 3,033,074.00 3,005,965.84 0.00 2,882.17 0.00 A-IO 0.00 0.00 0.00 0.00 0.00 AX-1 0.00 0.00 0.00 0.00 0.00 AX-2 0.00 0.00 0.00 0.00 0.00 AX-3 0.00 0.00 0.00 0.00 0.00 AX-4 0.00 0.00 0.00 0.00 0.00 A-R 50.00 0.00 0.00 0.00 0.00 A-RLT 0.00 0.00 0.00 0.00 0.00 M-1 16,127,300.00 16,127,300.00 0.00 0.00 0.00 M-2 7,741,100.00 7,741,100.00 0.00 0.00 0.00 M-3 4,838,200.00 4,838,200.00 0.00 0.00 0.00 B-1 2,580,400.00 2,580,400.00 0.00 0.00 0.00 B-2 1,935,300,000.00 1,935,300.00 0.00 0.00 0.00 B-3 2,257,929.46 2,257,929.46 0.00 0.00 0.00 =========== ============== =============== ============== ============== =========== Totals 645,095,073.46 637,542,372.54 0.00 11,007,039.46 0.00 =========== ============== =============== ============== ============== =========== =========== =========== ============= ============== ============ ============== Total Ending Ending Total Class Realized Principal Certificate Certificate Principal Loss(1) Reduction Balance Percentage Distribution =========== =========== ============= ============== ============ ============== A-1 0.00 11,004,157.29 206,929,299.95 0.91781344 11,004,157.29 A-2 0.00 0.00 95,000,000.00 1.00000000 0.00 A-3 0.00 0.00 164,200,000.00 1.00000000 0.00 A-4 0.00 0.00 121,922,720.00 1.00000000 0.00 APO 0.00 2,882.17 3,003,083.67 0.99011223 2,882.17 A-IO 0.00 0.00 0.00 0.00000000 0.00 AX-1 0.00 0.00 0.00 0.00000000 0.00 AX-2 0.00 0.00 0.00 0.00000000 0.00 AX-3 0.00 0.00 0.00 0.00000000 0.00 AX-4 0.00 0.00 0.00 0.00000000 0.00 A-R 0.00 0.00 0.00 0.00000000 0.00 A-RLT 0.00 0.00 0.00 0.00000000 0.00 M-1 0.00 0.00 16,127,300.00 1.00000000 0.00 M-2 0.00 0.00 7,741,100.00 1.00000000 0.00 M-3 0.00 0.00 4,838,200.00 1.00000000 0.00 B-1 0.00 0.00 2,580,400.00 1.00000000 0.00 B-2 0.00 0.00 1,935,300.00 1.00000000 0.00 B-3 0.00 0.00 2,257,929.46 1.00000000 0.00 =========== =========== ============= ============== ============ ============== Totals 0.00 11,007,039.46 626,535,333.00 0.97122945 11,007,039.46 =========== =========== ============= ============== ============ ==============
(1) Amount Does Not Include Excess Special Hazard, Bankruptcy, Or Fraud Losses Unless Otherwise Disclosed. Please Refer To The Prospectus Supplement For A Full Description. 3 Sequoia Mortgage Trust Contact: Customer Service Mortgage Pass-Through Certificates Norwest Bank Minnesota, N.A. Securities Administration Services Record Date: 31-July-1998 7485 New Horizon Way Distribution Date: 25-Aug-1998 Frederick, MD 21703 Telephone: (301) 846-8130 Facsimile: (301) 846-8152 Principal Distribution Factors Statement
========== ============== =============== ============= =============== ========== Beginning Scheduled Unscheduled Original Certificate Principal Principal Class(2) Face Amount Balance Distribution Distribution Accretion ========== ============== =============== ============= =============== ========== A-1 225,459,000.00 966.62123597 0.00000000 48.80779783 0.00000000 A-2 95,000,000.0 1000.00000000 0.00000000 0.00000000 0.00000000 A-3 164,200,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 A-4 121,922,720.00 1000.00000000 0.00000000 0.00000000 0.00000000 APO 3,033,074.00 991.06247985 0.00000000 0.95024717 0.00000000 A-IO 0.00 0.00000000 0.00000000 0.00000000 0.00000000 AX-1 0.00 0.00000000 0.00000000 0.00000000 0.00000000 AX-2 0.00 0.00000000 0.00000000 0.00000000 0.00000000 AX-3 0.00 0.00000000 0.00000000 0.00000000 0.00000000 AX-4 0.00 0.00000000 0.00000000 0.00000000 0.00000000 A-R 50.00 0.00000000 0.00000000 0.00000000 0.00000000 A-RLT 0.00 0.00000000 0.00000000 0.00000000 0.00000000 M-1 16,127,300.00 1000.00000000 0.00000000 0.00000000 0.00000000 M-2 7,741,100.00 1000.00000000 0.00000000 0.00000000 0.00000000 M-3 4,838,200.00 1000.00000000 0.00000000 0.00000000 0.00000000 B-1 2,580,400.00 1000.00000000 0.00000000 0.00000000 0.00000000 B-2 1,935,300,000 1000.00000000 0.00000000 0.00000000 0.00000000 B-3 2,257,929.46 1000.00000000 0.00000000 0.00000000 0.00000000 ========== ============== ============== ============= ============== ========== ========= ========== ============ ============= ============ ============== Realized Total Ending Ending Total Class(2) Loss(3) Principal Certificate Certificate Principal Reduction Balance Percentage Distribution ========= ========== ============ ============= ============ ============== A-1 0.00000000 48.80779783 917.81343814 0.91781344 48.80779783 A-2 0.00000000 0.00000000 1000.00000000 1.00000000 0.00000000 A-3 0.00000000 0.00000000 1000.00000000 1.00000000 0.00000000 A-4 0.00000000 0.00000000 1000.00000000 1.00000000 0.00000000 APO 0.00000000 0.95024717 990.11223267 0.99011223 0.95024717 A-IO 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 AX-1 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 AX-2 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 AX-3 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 AX-4 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 A-R 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 A-RLT 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 M-1 0.00000000 0.00000000 1000.00000000 1.00000000 0.00000000 M-2 0.00000000 0.00000000 1000.00000000 1.00000000 0.00000000 M-3 0.00000000 0.00000000 1000.00000000 1.00000000 0.00000000 B-1 0.00000000 0.00000000 1000.00000000 1.00000000 0.00000000 B-2 0.00000000 0.00000000 1000.00000000 1.00000000 0.00000000 B-3 0.00000000 0.00000000 1000.00000000 1.00000000 0.00000000 ========= ========== =========== ============= ========== ============
(2) Per $1000 denomination. (3) Amount Does Not Include Excess Special Hazard, Bankruptcy, Or Fraud Losses Unless Otherwise Disclosed. Please Refer To The Prospectus Supplement For A Full Description. 4 Sequoia Mortgage Trust Contact: Customer Service Mortgage Pass-Through Certificates Norwest Bank Minnesota, N.A. Securities Administration Services Record Date: 31-July-1998 7485 New Horizon Way Distribution Date: 25-Aug-1998 Frederick, MD 21703 Telephone: (301) 846-8130 Facsimile: (301) 846-8152 Interest Distribution Statement
========= ============== ============ =============== ============ ========== ========= Beginning Payment of Original Current Certificate/ Current Unpaid Current Class Face Certificate Notional Accrued Interest Interest Amount Rate Balance Interest Shortfall Shortfall ========= ============== ============ =============== ============ ========== ========= A-1 225,459,000.00 6.37000% 217,933,457.24 1,156,863,43 0.00 0.00 A-2 95,000,000.00 6.34000% 95,000,000.00 501,916.66 0.00 0.00 A-3 164,200,000.00 6.35000% 164,200,000.00 868,891.66 0.00 0.00 A-4 121,922,720.00 6.25000% 121,922,720.00 635,014.16 0.00 0.00 APO 3,033,074.00 0.00000% 3,005,965.84 0.00 0.00 0.00 A-IO 0.00 0.00250% 588,746,674.54 1,226.56 0.00 0.00 AX-1 0.00 0.48381% 217,933,457.24 87,865.46 0.00 0.00 AX-2 0.00 0.51381% 95,000,000.00 40,676.68 0.00 0.00 AX-3 0.00 0.50381% 164,200,000.00 68,938.11 0.00 0.00 AX-4 0.00 0.60381% 121,922,720.00 61,348.54 0.00 0.00 A-R 50.00 0.00000% 0.00 0.00 0.00 0.00 A-RLT 0.00 0.00000% 0.00 0.00 0.00 0.00 M-1 16,127,300.00 6.85381% 16,127,300.00 92,111.22 0.00 0.00 M-2 7,741,100.00 6.85381% 7,741,100.00 44,213.36 0.00 0.00 M-3 4,838,200.00 6.85381% 4,838,200.00 27,633.42 0.00 0.00 B-1 2,580,400.00 6.85381% 2,580,400.00 14,737.98 0.00 0.00 B-2 1,935,300,000 6.85381% 1,935,300.00 11,053.48 0.00 0.00 B-3 2,257,929.46 6.85381% 2,257,929.46 12,896.18 0.00 0.00 ========= ============== ============ =============== ============ ======= ====== Totals 645,095,073.46 3,625,386.90 0.00 0.00 ========= ============== ============ =============== ============ ======= ====== ========= ============= ========= ============ ========== ============== Remaining Ending Non-Supported Total Unpaid Certificate/ Class Interest Realized Interest Interest Notional Shortfall Losses(4) Distribution Shortfall Balance ========= ============= ========= ============ ========== ============== A-1 0.00 0.00 1,156,863.43 0.00 206,929,299.95 A-2 0.00 0.00 501,916.66 0.00 95,000,000.00 A-3 0.00 0.00 868,891.66 0.00 164,200,000.00 A-4 0.00 0.00 635,014.16 0.00 121,922,720.00 APO 0.00 0.00 0.00 0.00 3,003,083.67 A-IO 0.00 0.00 1,226.56 0.00 578,582.082.89 AX-1 0.00 0.00 87,865.46 0.00 206,929,299.95 AX-2 0.00 0.00 40,676.68 0.00 95,000,000.00 AX-3 0.00 0.00 68,938.10 0.00 164,200,000.00 AX-4 0.00 0.00 61,348.54 0.00 121,922,720.00 A-R 0.00 0.00 0.03 0.00 0.00 A-RLT 0.00 0.00 0.00 0.00 0.00 M-1 0.00 0.00 92,111.22 0.00 16,127,300.00 M-2 0.00 0.00 44,213.36 0.00 7,741.100.00 M-3 0.00 0.00 27,633.42 0.00 4,838,200.00 B-1 0.00 0.00 14,737.98 0.00 2,580,400.00 B-2 0.00 0.00 11,053.48 0.00 1,935,300.00 B-3 0.00 0.00 12,896.18 0.00 2,257,929.46 ========= ============= ========= ============ ========== ============== Totals 0.00 0.00 3,625,386.92 0.00 ========= ============= ========= ============ ========== ==============
(4) Amount Does Not Include Excess Special Hazard, Bankruptcy, Or Fraud Losses Unless Otherwise Disclosed. Please Refer To The Prospectus Supplement For A Full Description. 5 Sequoia Mortgage Trust Contact: Customer Service Mortgage Pass-Through Certificates Norwest Bank Minnesota, N.A. Securities Administration Services Record Date: 31-July-1998 7485 New Horizon Way Distribution Date: 25-Aug-1998 Frederick, MD 21703 Telephone: (301) 846-8130 Facsimile: (301) 846-8152 Interest Distribution Factors Statement
========= ============== =========== ============== =========== =========== =========== Beginning Payment Original Current Certificate/ Current of Unpaid Current Class(5) Face Certificate Notional Accrued Interest Interest Amount Rate Balance Interest Shortfall Shortfall ========= ============== =========== ============== =========== =========== =========== A-1 225,459,000.00 6.37000% 966.62123597 5.13114770 0.00000000 0.00000000 A-2 95,000,000.00 6.34000% 1000.00000000 5.28333326 0.00000000 0.00000000 A-3 164,200,000.00 6.35000% 1000.00000000 5.29166663 0.00000000 0.00000000 A-4 121,922,720.00 6.25000% 1000.00000000 5.20833328 0.00000000 0.00000000 APO 3,033,074.00 0.00000% 991.06247985 0.00000000 0.00000000 0.00000000 A-IO 0.00 0.00250% 988.29211192 0.00205895 0.00000000 0.00000000 AX-1 0.00 0.48381% 966.62123597 0.38971813 0.00000000 0.00000000 AX-2 0.00 0.51381% 1000.00000000 0.42817558 0.00000000 0.00000000 AX-3 0.00 0.50381% 1000.00000000 0.41984233 0.00000000 0.00000000 AX-4 0.00 0.60381% 1000.00000000 0.50317562 0.00000000 0.00000000 A-R 50.00 0.00000% 0.00000000 0.00000000 0.00000000 0.00000000 A-RLT 0.00 0.00000% 0.00000000 0.00000000 0.00000000 0.00000000 M-1 16,127,300.00 6.85381% 1000.00000000 5.71150906 0.00000000 0.00000000 M-2 7,741,100.00 6.85381% 1000.00000000 5.71150870 0.00000000 0.00000000 M-3 4,838,200.00 6.85381% 1000.00000000 5.71150841 0.00000000 0.00000000 B-1 2,580,400.00 6.85381% 1000.00000000 5.71150984 0.00000000 0.00000000 B-2 1,935,300,000 6.85381% 1000.00000000 5.71150726 0.00000000 0.00000000 B-3 2,257,929.46 6.85381% 1000.00000000 5.71150704 0.00000000 0.00000000 ========= ============== =========== ============== =========== =========== =========== ========= =========== ========== ============ ========== =============== Remaining Ending Non-Supported Total Unpaid Certificate/ Interest Realized Interest Interest Notional Class(5) Shortfall Losses(6) Distribution Shortfall Balance ========= =========== ========== ============ ========== =============== A-1 0.00000000 0.00000000 5.13114770 0.00000000 917,81343814 A-2 0.00000000 0.00000000 5.28333326 0.00000000 1000.00000000 A-3 0.00000000 0.00000000 5.29166663 0.00000000 1000.00000000 A-4 0.00000000 0.00000000 5.20833328 0.00000000 1000.00000000 APO 0.00000000 0.00000000 0.00000000 0.00000000 990.11223267 A-IO 0.00000000 0.00000000 0.00205895 0.00000000 971.22944952 AX-1 0.00000000 0.00000000 0.39871813 0.00000000 917.81343814 AX-2 0.00000000 0.00000000 0.42817558 0.00000000 1000.00000000 AX-3 0.00000000 0.00000000 0.41984233 0.00000000 1000.00000000 AX-4 0.00000000 0.00000000 0.50317562 0.00000000 1000.00000000 A-R 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 A-RLT 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 M-1 0.00000000 0.00000000 5.71150906 0.00000000 1000.00000000 M-2 0.00000000 0.00000000 5.71150870 0.00000000 1000.00000000 M-3 0.00000000 0.00000000 5.71150841 0.00000000 1000.00000000 B-1 0.00000000 0.00000000 5.71150984 0.00000000 1000.00000000 B-2 0.00000000 0.00000000 5.71150726 0.00000000 1000.00000000 B-3 0.00000000 0.00000000 5.71150704 0.00000000 1000.00000000 ========= =========== ========== ============ ========== ===============
(5) Per $1,000 Denomination. (6) Amount Does Not Include Excess Special Hazard, Bankruptcy, Or Fraud Losses Unless Otherwise Disclosed. Please Refer To The Prospectus Supplement For A Full Description. 6 Sequoia Mortgage Trust Contact: Customer Service Mortgage Pass-Through Certificates Norwest Bank Minnesota, N.A. Securities Administration Services Record Date: 31-July-1998 7485 New Horizon Way Distribution Date: 25-Aug-1998 Frederick, MD 21703 Telephone: (301) 846-8130 Facsimile: (301) 846-8152 Certificateholder Account Statement
==================================================================== CERTIFICATE ACCOUNT Beginning Balance 0.00 Deposits Payments of Interest and Principal 14,767,803.11 Liquidations, Insurance Proceeds, Reserve Funds 0.00 Proceeds from Repurchased Loans 0.00 Other Amounts (Servicer Advances) 0.00 Realized Losses 0.00 ------------- Total Deposits 14,767,803.11 Withdrawals Reimbursement for Servicer Advances 0.00 Payment of Service Fee 135,376.72 Payment of Interest and Principal 14,632,426.39 ------------- Total Withdrawals (Pool Distribution Amount) 14,767,803.11 ============= Ending Balance 0.00 ==================================================================== ==================================================================== PREPAYMENT/CURTAILMENT INTEREST SHORTFALL Total Prepayment/Curtailment Interest Shortfall 2,223.87 Servicing Fee Support 2,223.87 -------- Non-Supported Prepayment/Curtailment Interest Shortfall 0.00 ======== ==================================================================== ==================================================================== SERVICING FEES Gross Servicing Fee 137,600.59 Supported Prepayment/Curtailment Interest Shortfall 2,223.87 ---------- Net Servicing Fee 135,376.72 ========== ====================================================================
7 Sequoia Mortgage Trust Contact: Customer Service Mortgage Pass-Through Certificates Norwest Bank Minnesota, N.A. Securities Administration Services Record Date: 31-July-1998 7485 New Horizon Way Distribution Date: 25-Aug-1998 Frederick, MD 21703 Telephone: (301) 846-8130 Facsimile: (301) 846-8152
=========================================================================================== CERTIFICATEHOLDER DELINQUENCY/CREDIT ENHANCEMENT STATEMENT DELINQUENCY STATUS Percentage Delinquent Based On ---------------------------- Current Number Unpaid Principal Number Unpaid Of Loans Balance of Loans Balance -------- --------------- --------- --------- 30 Days 14 3,797,849.21 0.675350% 0.606167% 60 Days 2 687,057.53 0.096479% 0.109660% 90+ Days 1 598,612.17 0.048239% 0.095543% Foreclosure 0 0.00 0.000000% 0.000000% REO 0 0.00 0.000000% 0.000000% -- ------------ -------- -------- Totals 17 5,083,518.91 0.820068% 0.811370% Current Period Realized Loss - Includes Interest Shortfall 0.00 Cumulative Realized Losses - Includes Interest Shortfall 0.00 Current Period Class A Insufficient Funds Principal Balance of Contaminated Properties 0.00 Periodic Advance 3,128,960.78 =========================================================================================== =========================================================================================== Bankruptcy 300,000.00 0.04650477% 300,000.00 0.04788238% Fraud 12,901,901.00 1.99999993% 12,901,901.00 2.05924556% Special Hazard 8,773,293.00 1.36000000% 8,773,293.00 1.40028703% =========================================================================================== Limit of Subordinate's Exposure to Certain Types of Losses
8 Sequoia Mortgage Trust Contact: Customer Service Mortgage Pass-Through Certificates Norwest Bank Minnesota, N.A. Securities Administration Services Record Date: 31-July-1998 7485 New Horizon Way Distribution Date: 25-Aug-1998 Frederick, MD 21703 Telephone: (301) 846-8130 Facsimile: (301) 846-8152
=============================================================================== COLLATERAL STATEMENT Collateral Description Mixed Fixed Weighted Average Gross Coupon 7.082800% Weighted Average Pass-Through Rate 6.823804% Weighted Average Maturity (Stepdown Calculation) 354 Beginning Scheduled Collateral Loan Count 2,106 Number of Loans Paid in Full 33 Ending Scheduled Collateral Loan Count 2,073 Beginning Scheduled Collateral Balance 637,542,372.54 Ending Scheduled Collateral Balance 626,535,333.08 Ending Actual Collateral Balance at 31-July-1998 626,842,816.17 Monthly P&I Constant 4,185,738.98 Class A Optimal Amount 14,426,898.55 Class AP Deferred Amount 0.00 Ending Scheduled Balance for Premium Loans 577,569,712.43 Ending Scheduled Balance for Discounted Loans 48,965,620.65 Unpaid Principal Balance of Outstanding Mortgage Loans with Original LTV: Less than or equal to 80% 589,652,246.52 Greater than 80% less than or equal to 85% 5,217,508.97 Greater than 85%, less than or equal to 95% 31,973,060.68 Greater than 95% 0.00 ===============================================================================