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EXHIBIT 99
Chemical Bank, Trustee Determination Date: 02-Aug-96
Manufactured Housing Contracts Remittance Date: 07-Aug-96
Senior/Subordinated Pass-Through Certificates Series 1996B For the Period Ended: 25-Jul-96
Information for Clauses (a) through (s), Section 7.01
Class A-1 Class A-2 Class A-3 Class A-4
(a) Class A and Class B Distribution Amounts 1,126,847.76 165,939.37 120,818.63 76,366.67
(b) Formula Principal Distribution Amount
(a) Scheduled Principal Due 358,159.67
(b) Partial Prepayments Received 33,340.73
(c) Principal Payments in Full (Scheduled Balance) 564,979.36
(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 956,479.76 0.00 0.00 0.00
(c) Interest Distribution 170,368.00 165,939.37 120,818.63 76,366.67
Unpaid Interest Shortfall 0.00 0.00 0.00 0.00
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Total Interest Distribution 170,368.00 165,939.37 120,818.63 76,366.67
(d) Beginning Class A and Class B Principal Balance 31,944,000.00 29,610,000.00 20,786,000.00 12,640,000.00
Less: Principal Distribution 956,479.76 0.00 0.00 0.00
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Remaining Class A and Class B Principal Balance 30,987,520.24 29,610,000.00 20,786,000.00 12,640,000.00
(e) Fees Due Servicer
Monthly Servicing Fee 143,609.38 (h) Pool Factor
Section 8.06 Reimbursement Amount 0.00 Class A-1 0.97005761
Section 6.02 Reimbursement Amount 2,000.00 Class A-2 1.00000000
Reimburseable Fees 0.00 Class A-3 1.00000000
Class A-4 1.00000000
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Total Fees Due Servicer 145,609.38 Class A-5 1.00000000
Class A-6 1.00000000
Class B-1 1.00000000
Class B-2 1.00000000
No. of Unpaid Principal
(f) Delinquency Contracts Balance
31-59 Days Delinquent 35 910,519
60-89 Days Delinquent 3 126,136
90+ Days Delinquent 0 0
(g) Section 3.05 Repurchases 0.00
(i) Class R Distribution Amount 182,803.28
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 225,455.78
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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 598,320.09
(r) Scheduled Principal Payments 358,159.67
(s) Weighted Average Interest Rate 12.00%
Class A-5 Class A-6 Class B-1 Class B-2
(a) Class A and Class B Distribution Amounts 108,980.81 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)
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Total Principal Distribution 0.00 0.00 0.00 0.00
(c) Interest Distribution 108,980.81 72,154.58 53,251.00 42,652.50
Unpaid Interest Shortfall 0.00 0.00 0.00 0.00
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Total Interest Distribution 108,980.81 72,154.58 53,251.00 42,652.50
(d) Beginning Class A and Class B Principal Balance 17,379,000.00 11,030,000.00 8,272,000.00 6,204,000.00
Less: Principal Distribution 0.00 0.00 0.00 0.00
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Remaining Class A and Class B Principal Balance 17,379,000.00 11,030,000.00 8,272,000.00 6,204,000.00
(e) Fees Due Servicer
Monthly Servicing Fee Original Balance Rate
Section 8.06 Reimbursement Amount 31,944,000.00 6.400%
Section 6.02 Reimbursement Amount 29,610,000.00 6.725%
Reimburseable Fees 20,786,000.00 6.975%
12,640,000.00 7.250%
Total Fees Due Servicer 17,379,000.00 7.525%
11,030,000.00 7.850%
8,272,000.00 7.725%
6,204,000.00 8.250%
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Chemical Bank, Trustee Determination Date: 02-Aug-96
Manufactured Housing Contracts Remittance Date: 07-Aug-96
Senior/Subordinated Pass-Through Certificates Series 1996B For the Period Ended: 25-Jul-96
Computation of Available Distribution Amount
(i) Certificate Account Balance at Monthly Cutoff-Vanderbilt 2,079,804.09
Certificate Account Balance at Monthly Cutoff-SubServicer 91,930.61
(ii) Monthly Advance made 0.00
(iii)Section 5.05 Certificate Fund Income-Vanderbilt 1,078.04
(iii)Section 5.05 Certificate Fund Income-SubServicer 0.00
(v) Principal due Holders 0.00
Less:
(i) Scheduled Payments of principal and interest
due subsequent to the Due Period-Vanderbilt 77,388.76
(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 (Dueeler 0.00
(ii) Reimbursement for taxes from Liquidation Proceeds 0.00
(iii) Monthly Servicing Fee 143,609.38
(iv) Reimburseable Liquidation Expenses 2,000.00
(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 145,609.38
Available Distrubution Amount-Vanderbilt 1,857,883.99
Available Distrubution Amount-SubServicer 91,930.61
To Class A and B 1,767,011.32
Monthly Excess Cashflow 182,803.28
Weighted Average Remaining Term (months) 151.70
Scheduled Balance Computation
Prior Month Balance 137,865,000.00
Current Balance 136,934,562.24
Adv Principal 17,084.90
Del Principal 43,126.90
Pool Scheduled Balance 136,908,520.24
Principal Payments in Full 564,979.36
Partial Prepayments 33,340.73
Scheduled Principal 358,159.67
Collateral Balance -- 136,934,562.24