MANUFACTURED HOUSING CONTRACT SENIOR/SUBORDINATE PASS-THROUGH CERTIFICATES, SERIES 1995-1 Distribution Date: 12/15/95 to 1/15/96 Month-end: 11/30/95 to 12/31/95
MANUFACTURED HOUSING CONTRACT SENIOR/SUBORDINATE
PASS-THROUGH CERTIFICATES, SERIES 1995-1
Distribution Date: 12/15/95 to 1/15/96
Month-end: 11/30/95 to 12/31/95
SENIOR CERTIFICATES
1 (a) Amount Available (including Monthly
Servicing Fee) 4,568,391.77
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(b) Class A-4 Interest Deficiency Amount
(if any) and Class B-1 Interest Deficiency
Amount (if any) withdrawn for prior
Remittance Date 0.00
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(c) Amount Available after giving effect to
withdrawl of Class A-4 Interest Deficiency
Amount and Class B-1 Interest Deficiency
Amount for prior Remittance Date 4,568,391.77
------------------
Interest
2 Aggregate Interest (total): 1,463,049.65
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(a) Class A-1 Remittance Rate ( %) 6.100
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(b) Class A-1 Interest 702,465.65
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(c) Class A-2 Remittance Rate ( %) 6.375
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(d) Class A-2 Interest 291,167.50
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(e) Class A-3 Remittance Rate ( %) 7.100
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(f) Class A-3 Interest 469,416.50
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3 Amount applied to:
(a) Unpaid Senior Interest Shortfall 0.00
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4 Remaining:
(a) Unpaid Senior Interest Shortfall 0.00
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Page 1
Principal
Prior Period Ending Scheduled Balance 182,365,639.34
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5 Formula Principal Distribution Amount: 2,492,691.41
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(a) Scheduled principal 579,201.22
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(b) Principal Prepayments (PIF & Curtailments) 491,203.43
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(c) Liquidated Contracts 0.00
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(d) Repurchases (Principal) 30,284.23
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(e) Accelerated Principal 1,346,781.44
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(f) Principal shortfall on substitutions 43,185.81
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(g) Principal adjustment for cut-off extensions 2,035.28
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6 Pool Count/Scheduled Principal Balance 181,219,729.37
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7 Unpaid Senior Principal Shortfall (if any)
following prior Remittance Date 0.00
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8 Senior Percentage for such Remittance Date
(Until Class B Cross-Over Date, and on each
Remittance Date thereafter unless each Class B
Principal Distribution Test is satisfied, equals
Senior Principal Balance divided by Pool
Scheduled Principal Balance) 100.00
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9 Senior Percentage for the following
Remittance Date 100.00
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10 Senior principal distribution:
(a) Class A-1 2,492,691.41
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(b) Class A-2 0.00
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(c) Class A-3 0.00
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11 (a) Class A-1 Ending Principal Balance 67,208,308.59
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(b) Class A-2 Ending Principal Balance 27,404,000.00
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(c) Class A-3 Ending Principal Balance 39,669,000.00
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12 Unpaid Senior Principal Shortfall (if any)
following current Remittance Date 0.00
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CLASS A-4 CERTIFICATES
13 Class A-4 Amount Available
612,650.71
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Interest
14 Aggregate Interest
(a) Class A-4 Remittance Rate ( %
unless Weighted Average Contract
Rate is below %) 7.625
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(b) Class A-4 Interest 185,401.88
------------------
15 Amount applied to Unpaid Class A-4
Interest Shortfall 0.00
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16 Amount applied to Class A-4 Interest
Deficiency Amount 0.00
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17 Remaining unpaid Class A-4 Interest
Deficiency Amount 0.00
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18 Remaining Unpaid Class A-4 Interest
Shortfall 0.00
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Principal
19 Formula Principal Distribution Amount (total): 0.00
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(a) Scheduled principal 0.00
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(b) Principal Prepayments 0.00
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(c) Liquidated Contracts 0.00
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(d) Repurchases 0.00
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(e) Accelerated Principal 0.00
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20 Pool Scheduled Principal Balance 181,219,729.37
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21 Class A-4 Percentage after prior
Remittance Date 0.00
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22 Class A-4 Percentage for such Remittance
Date 0.00
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23 Class A-4 Percentage for the following
Remittance Date 0.00
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24 Class A-4 principal distribution:
(a) Class A-4 (current) 0.00
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(b) Unpaid Class A-4 Principal Shortfall
(if any) following prior Remittance Date 0.00
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25 Unpaid Class A-4 Principal Shortfall (if any)
following current Remittance Date 0.00
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Class A-4 Principal Balance 14,589,000.00
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Class B Principal Distribution Tests (tests must be satisfied on
or after the Remittance Date occurring in December 2000) n/a
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Page 3
26 Average Sixty-Day Deliquency Ratio Test
(a) Sixty-Day Deliquency Ratio for
current Remittance Date (%) 0.811859%
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(b) Average Sixty-Day Delinquency Ratio
(arithmetic average of ratios for this month
and two preceding months; may not
exceed 5* %) *re: Class B Prin. Distri. Test 0.670930%
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27 Average Thirty-Day Delinquency Ratio Test
(a) Thirty-Day Delinquency Ratio for
current Remittance Date 2.992955%
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(b) Average Thirty-Day Delinquency Ratio
(arithmetic average of ratios for this month
and two preceding months; may not
exceed 7 * %) *re: Class B Prin. Distri. Test 2.480978%
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28 Cumulative Realized Losses Test
(a) Cumulative Realized Losses for current
Remittance Date (Dec. 1, 2000 to Nov. 30, 2001,
losses are less than 7% of cut-off principal balance,
if Dec. 1, 2001 to Nov. 30. 2002, losses are less
than 8% of cut-off principal balance, and if
after Dec. 1, 2002 the losses are less than 9%
of cut-off principal balance.) 0.00%
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0.00
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29 Current Realized Losses Test
(a) Current Realized Losses for current
Remittance Date 0.00
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(b) Current Realized Loss Ratio (total Realized Losses
for most recent three months, multiplied by 4, divided
by arithmetic average of Pool Scheduled Principal
Balances for third preceding Remittance and for
current Remittance Date; may not exceed 2.75%) 0.00%
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30 Class B Principal Balance Test
(a) Class B Principal Balance Test (Sum of the
Class B Principal Balance and the
Overcollateralization Amount as of such
Remittance Date is greater than or equal
to $3,647,313). 31,673,845.38
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Overcollateralized Amount - Ending Pool Scheduled
Balance MINUS Sum of Principal Balances of A-1 to
B-2 after distributions.
Page 4
CLASS B-1 CERTIFICATES
31 Amount Available less the Senior Distribution
Amount and Class A-4 Distribution Amount 427,248.83
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Interest
32 Class B-1 Remittance Rate ( %) 7.65
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33 Class B-1 Interest 255,765.00
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34 Current Interest 255,765.00
------------------
35 Amount applied to Unpaid Class B-1
Interest Shortfall 0.00
------------------
36 Amount applied to Class B-1 Interest Deficiency
Amount 0.00
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37 Remaining unpaid Class B-1 Interest Deficiency
Amount 0.00
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38 Remaining Unpaid Class B-1 Interst Shortfall 0.00
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0.00
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Principal
39 Unpaid Class B-1 Principal Shortfall (if any)
following prior Remittance Date 0.00
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40 (a) Class B Percentage for such Remittance
Date (until Class B Cross-over Date, and on
each Remittance Date thereafter unless each
Class B Principal Distribution Test is
satisfied, equals zero. Thereafter, if each
Class B Principal Distribution Test is
satisfied, equals 100% minus Senior
Percentage) 0.00
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(b) Class B Percentage for the following
Remittance Date 0.00
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41 Current Principal (Class B Percentage of Formula
Principal Distribution Amount) 0.00
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42 (a) Class B-1 Principal Shortfall 0.00
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(b) Unpaid Class B-1 Principal Shortfall 0.00
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43 Class B Principal Balance 31,002,639.00
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44 Class B-1 Principal Balance 20,060,000.00
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Page 5
CLASS B-2 CERTIFICATES
45 Remaining Amount Available 171,483.83
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Interest
46 Class B-2 Remittance Rate ( %, unless
Weighted Average Contract Rate is less than %) 9.375
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47 Class B-2 Interest 170,978.74
------------------
48 Current Interest 170,978.74
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49 Amount applied to Unpaid Class B-2 Interest
Shortfall 0.00
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50 Remaining Unpaid Class B-2 Interest Shortfall 0.00
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Principal
51 Unpaid Class B-2 Principal Shortfall (if any)
following prior Remittance Date 0.00
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52 Class B-2 Principal Liquidation Loss
Amount 0.00
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53 Current principal (zero until Class B-1 paid
down; thereafter, Class B Percentage of
Forumal Principal Distribution Amount) 0.00
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54 Class B-2 Principal Balance 10,942,639.00
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SENIOR, CLASS A-4, CLASS B-1 AND CLASS B-2 CERTIFICATES
Aggregate Actual Balances of delinquent Contracts
as of month-end.
56 30-59 days 3,940,173.44
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57 60 days or more 1,462,456.66
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58 Manufactured Homes repossessed 15
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59 Manufactured Homes repossessed but
remaining in inventory 15
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60 Weighted Average Contract Rate of all
outstanding Contracts (Note: Does not include 10.27
1% servicing fee.) ------------------
Page 6
SERVICING
61 Monthly Servicing Fee (deducted from
Certificate Account balance to arrive at
Amount Available if the Company is not
the Servicer; deducted from funds remaining
after payment of Senior Distribution Amount,
Class A-4 Distribution Amount, Class B-1
Distribution Amount, and Class B-2
Distribution Amount, if the Company is
the Servicer) 0.00
------------------
Monthly interest on certificate account: 505.09
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CLASS A-4 AND CLASS B-2 CERTIFICATES
64 Class A-4 Interest Deficiency on such
Remittance Date 0.00
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65 Class B-1 Interest Deficiency on such
Remittance Date 0.00
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REPOSSESSED CONTRACTS
66 Repossessed Contracts 363,851.16
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67 Repossessed Contracts Remaining in
Inventory 363,851.16
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ACCELERATED PRINCIPAL CALCULATION
68 Remaining Amount Available 0.00
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69 Accelerated Principal 1,346,781.44
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RESIDUAL CERTIFICATES
70 Class C Distribution Amount
(The lessor of the amount available or the excess, if any, 1/12
Weighted Net Contract Rate at beginning x pool scheduled balance
at beginning MINUS the Certificate Interest [A-1 to B-2]
Distribution Amount for date.) 0.00
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71 Release Amount (if B-2 is zero) 0.00
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72 Reimburse Residual Certificaticate Holder per 0.00
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Section 10.06 (REMIC Tax Matters)
73 Remaining to Residual Holder 0.00
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Please contact the Bondholder Relations Department of the Bank of New York
at (212) 815 - 2793 with any questions regarding this Statement on your
Distribution.
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