1
Exhibit 99
Chemical Bank, Trustee Determination Date:
Manufactured Housing Contracts Remittance Date:
Senior/Subordinated Pass-Through Certificates Series 1996B For the Period Ended:
Chemical Bank, Trustee Determination Date:
Manufactured Housing Contracts Remittance Date:
Senior/Subordinated Pass-Through Certificates Series 1996B For the Period Ended:
Information for Clauses (a) through (e), Section 7.01
Class A-1 Class A-2
(a) Class A and Class B Distribution Amounts 900,932.04 165,939.37
(b) Formula Principal Distribution Amount
(a) Scheduled Principal Due 393,342.68
(b) Partial Prepayments Received 29,405.43
(c) Principal Payments in Full (Scheduled Balance) 319,432.67
(d) Liquidated Contract Scheduled Balance 0.00
(e) Section 3.05 Purchase Scheduled Balance 0.00
(f) Previously Undistributed Shortfalls in (a) through (e) 0.00
---------------- ----------------
Total Principal Distribution 742,180.68 0.00
(c) Interest Distribution 158,751.36 165,939.37
Unpaid Interest Shortfall 0.00 0.00
---------------- ----------------
Total Interest Distribution 158,751.36 165,939.37
(d) Beginning Class A and Class B Principal Balance 29,765,879.99 29,610,000.00
Less: Principal Distribution 742,180.68 0.00
---------------- ----------------
Remaining Class A and Class B Principal Balance 29,023,699.31 29,610,000.00
(e) Fees Due Servicer Pool Factor
Monthly Servicing Fee 141,340.50 (h)
Section 8.06 Reimbursement Amount 0.00 Class A-1
Section 6.02 Reimbursement Amount 10,000.00 Class A-2
Reimburseable Fees 0.00 Class A-3
---------------- Class A-4
Total Fees Due Servicer 151,340.50 Class A-5
Class A-6
No. of Unpaid Principal Class B-1
(f) Delinquency Contracts Balance Class B-2
31-59 Days Delinquent 61 1,486,965
60-89 Days Delinquent 13 271,513
90+ Days Delinquent 2 81,707
(g) Section 3.05 Repurchases 0.00
(i) Class R Distribution Amount 155,733.52
Reposession Profits 0.00
(j) Principal Balance of Contracts in Repossession 0.00
(k) Aggregate Net Liquidation Losses 0.00
(l) (x) Class B-2 Formula Distribution Amount 42,652.50
(y) Remaining Amount Available 198,386.02
----------------
Amount of (x) over (y) 0.00
(m) Class B-2 Liquidation Loss Amount 0.00
(n) Guarantee Payment 0.00
(o) Unadvanced Shortfalls 0.00
(p) Number of units repossessed 0
(q) Principal Prepayments paid 348,838.00
(r) Scheduled Principal Payments 393,342.68
(s) Weighted Average Interest Rate 12.00%
Chemical Bank, Trustee 02-Oct-96
Manufactured Housing Contracts 07-Oct-96
Senior/Subordinated Pass-Through Certificates Series 1996B 25-Sep-96
Chemical Bank, Trustee 02-Oct-96
Manufactured Housing Contracts 07-Oct-96
Senior/Subordinated Pass-Through Certificates Series 1996B 25-Sep-96
Information for Clauses (a) through (s), Section 7.01
Class A-3 Class A-4 Class A-5
(a) Class A and Class B Distribution Amounts 120,818.63 76,366.67 108,980.81
(b) Formula Principal Distribution Amount
(a) Scheduled Principal Due
(b) Partial Prepayments Received
(c) Principal Payments in Full (Scheduled Balance)
(d) Liquidated Contract Scheduled Balance
(e) Section 3.05 Purchase Scheduled Balance
(f) Previously Undistributed Shortfalls in (a) through (e)
----------------- ----------------- ----------------
Total Principal Distribution 0.00 0.00 0.00
(c) Interest Distribution 120,818.63 76,366.67 108,980.81
Unpaid Interest Shortfall 0.00 0.00 0.00
----------------- ----------------- ----------------
Total Interest Distribution 120,818.63 76,366.67 108,980.81
(d) Beginning Class A and Class B Principal Balance 20,786,000.00 12,640,000.00 17,379,000.00
Less: Principal Distribution 0.00 0.00 0.00
----------------- ----------------- ----------------
Remaining Class A and Class B Principal Balance 20,786,000.00 12,640,000.00 17,379,000.00
(e) Fees Due Servicer
Monthly Servicing Fee Pool Factor Original Balance
Section 8.06 Reimbursement Amount 0.90868062 31,944,000.00
Section 6.02 Reimbursement Amount 1.00000000 29,610,000.00
Reimburseable Fees 1.00000000 20,786,000.00
1.00000000 12,640,000.00
Total Fees Due Servicer 1.00000000 17,379,000.00
1.00000000 11,030,000.00
1.00000000 8,272,000.00
(f) Delinquency 1.00000000 6,204,000.00
31-59 Days Delinquent
60-89 Days Delinquent
90+ Days Delinquent
(g) Section 3.05 Repurchases
(i) Class R Distribution Amount
Reposession Profits
(j) Principal Balance of Contracts in Repossession
(k) Aggregate Net Liquidation Losses
(l) (x) Class B-2 Formula Distribution Amount
(y) Remaining Amount Available
Amount of (x) over (y)
(m) Class B-2 Liquidation Loss Amount
(n) Guarantee Payment
(o) Unadvanced Shortfalls
(p) Number of units repossessed
(q) Principal Prepayments paid
(r) Scheduled Principal Payments
(s) Weighted Average Interest Rate
Chemical Bank, Trustee
Manufactured Housing Contracts
Senior/Subordinated Pass-Through Certificates Series 1996B
Chemical Bank, Trustee
Manufactured Housing Contracts
Senior/Subordinated Pass-Through Certificates Series 1996B
Information for Clauses (a) through (e), Section 7.01
Class A-6 Class B-1 Class B-2
(a) Class A and Class B Distribution Amounts 72,154.58 53,251.00 42,652.50
(b) Formula Principal Distribution Amount
(a) Scheduled Principal Due
(b) Partial Prepayments Received
(c) Principal Payments in Full (Scheduled Balance)
(d) Liquidated Contract Scheduled Balance
(e) Section 3.05 Purchase Scheduled Balance
(f) Previously Undistributed Shortfalls in (a) through (e)
----------------- ----------------- ----------------
Total Principal Distribution 0.00 0.00 0.00
(c) Interest Distribution 72,154.58 53,251.00 42,652.50
Unpaid Interest Shortfall 0.00 0.00 0.00
----------------- ----------------- ----------------
Total Interest Distribution 72,154.58 53,251.00 42,652.50
(d) Beginning Class A and Class B Principal Balance 11,030,000.00 8,272,000.00 6,204,000.00
Less: Principal Distribution 0.00 0.00 0.00
----------------- ----------------- ----------------
Remaining Class A and Class B Principal Balance 11,030,000.00 8,272,000.00 6,204,000.00
(e) Fees Due Servicer
Monthly Servicing Fee Rate
Section 8.06 Reimbursement Amount 6.400%
Section 6.02 Reimbursement Amount 6.725%
Reimburseable Fees 6.975%
7.250%
Total Fees Due Servicer 7.525%
7.850%
7.725%
(f) Delinquency 8.250%
31-59 Days Delinquent
60-89 Days Delinquent
90+ Days Delinquent
(g) Section 3.05 Repurchases
(i) Class R Distribution Amount
Reposession Profits
(j) Principal Balance of Contracts in Repossession
(k) Aggregate Net Liquidation Losses
(l) (x) Class B-2 Formula Distribution Amount
(y) Remaining Amount Available
Amount of (x) over (y)
(m) Class B-2 Liquidation Loss Amount
(n) Guarantee Payment
(o) Unadvanced Shortfalls
(p) Number of units repossessed
(q) Principal Prepayments paid
(r) Scheduled Principal Payments
(s) Weighted Average Interest Rate
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Chemical Bank, Trustee Detetermination Date: 02-Oct-96
Manufactured Housing Contracts Remittance Date: 07-Oct-96
Senior/Subordinated Pass-Through Certificates Series 1996B For the Period Ended: 25-Sep-96
Computation of Available Distribution Amount
(i) Certificate Account Balance at Monthly Cutoff-Vanderbilt 1,814,482.99
Certificate Account Balance at Monthly Cutoff-SubServicer 110,388.87
(ii) Monthly Advance made 0.00
(iii)Section 5.05 Certificate Fund Income-Vanderbilt 6,921.81
(iii)Section 5.05 Certificate Fund Income-SubServicer 287.90
(v) Principal due Holders 0.00
Less:
(i) Scheduled Payments of principal and interest
due subsequent to the Due Period-Vanderbilt 82,911.95
(i) Scheduled Payments of principal and interest
due subsequent to the Due Period-SubServicer 0.00
(ii) Due to the Servicer Pursuant to Section 6.02:
(i) Section 3.05 Purchases (Due Seller) 0.00
(ii) Reimbursement for taxes from Liquidation Proceeds 0.00
(iii) Monthly Servicing Fee 141,340.50
(iv) Reimburseable Liquidation Expenses 10,000.00
(v) Section 6.04 (c) reimbursement 0.00
(vi) Section 8.06 reimbursement 0.00
(vii) Amounts not required to be deposited-SubServicer 0.00
Total Due Servicer 151,340.50
Available Distrubution Amount-Vanderbilt 1,586,152.35
Available Distrubution Amount-SubServicer 110,676.77
To Class A and B 1,541,095.60
Monthly Excess Cashflow 155,733.52
Weighted Average Remaining Term (months) 178.28
Scheduled Balance Computation
Prior Month Balance 135,686,879.99
Current Balance 134,987,541.59
Adv Principal 18,296.43
Del Principal 61,138.71
Pool Scheduled Balance 134,944,699.31
Principal Payments in Full 319,432.57
Partial Prepayments 29,405.43
Scheduled Principal 393,342.68
Collateral Balance 134,987,541.69