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EXHIBIT 99
Chemical Bank, Trustee Determination Date: 04-Jan-97
Manufactured Housing Contracts Remittance Date: 07-Jan-97
Information for Clauses (a) through (s), Section 7.01 For the Period Ended: 25-Dec-96
Class A-1 Class A-2 Class A-3
(a) Class A and Class B Distribution Amounts 1,126,231.16 165,939.37 120,818.63
(b) Formula Principal Distribution Amount
(a) Scheduled Principal Due 318,833.19
(b) Partial Prepayments Received 44,381.54
(c) Principal Payments in Full (Scheduled Balance) 620,818.33
(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 984,033.06 0.00 0.00
(c) Interest Distribution 142,198.10 165,939.37 120,818.63
Unpaid Interest Shortfall 0.00 0.00 0.00
------------- ------------- -------------
Total Interest Distribution 142,198.10 165,939.37 120,818.63
(d) Beginning Class A and Class B Principal Balance 26,662,144.53 29,610,000.00 20,786,000.00
Less: Principal Distribution 984,033.06 0.00 0.00
------------- ------------- -------------
Remaining Class A and Class B Principal Balance 25,678,111.47 29,610,000.00 20,786,000.00
(e) Fees Due Servicer
Monthly Servicing Fee 138,107.44 (h) Pool Factor
Section 8.06 Reimbursement Amount 0.00 Class A-1 0.80384772
Section 6.02 Reimbursement Amount 20,000.00 Class A-2 1.00000000
Reimburseable Fees 0.00 Class A-3 1.00000000
------------- Class A-4 1.00000000
Total Fees Due Servicer 158,107.44 Class A-5 1.00000000
Class B-1 1.00000000
Class B-2 1.00000000
Class B-2 1.00000000
Information for Clauses (a) through (s), Section 7.01
Class A-4 Class A-5 Class A-6 Class B-1 Class B-2
(a) Class A and Class B Distribution Amounts 76,366.67 108,980.81 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)
------------- ------------- ------------- ------------ ----------
Total Principal Distribution 0.00 0.00 0.00 0.00 0.00
(c) Interest Distribution 76,366.67 108,980.81 72,154.58 53,251.00 42,652.50
Unpaid Interest Shortfall 0.00 0.00 0.00 0.00 0.00
------------- ------------- ------------- ------------ ----------
Total Interest Distribution 76,366.67 108,980.81 72,154.58 53,251.00 42,652.50
------------- ------------- ------------- ------------ ----------
(d) Beginning Class A and Class B Principal Balance 12,640,000.00 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 0.00
------------- ------------- ------------- ------------ ----------
Remaining Class A and Class B Principal Balance 12,640,000.00 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%
8,272,000.00 7.725%
6,204,000.00 8.250%
6,204,000.00 8.250%
No. of Unpaid Principal
(f) Delinquency Contracts Balance
31-59 Days Delinquent 132 3,866,128
60-89 Days Delinquent 23 712,560
90+ Days Delinquent 18 413,640
(g) Section 3.05 Repurchases 0.00
(i) Class R Distribution Amount 155,105.10
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 197,757.60
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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
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(q) Principal Prepayments paid 665,199.87
(r) Scheduled Principal Payments 318,833.19
(s) Weighted Average Interest Rate 11.00%
Computation of Available Distribution Amount
(i) Certificate Account Balance at Monthly Cutoff-Vanderbilt 2,064,989.51
Certificate Account Balance at Monthly Cutoff-SubServicer 87,210.99
(ii) Monthly Advance made 0.00
(iii)Section 5.05 Certificate Fund Income-Vanderbilt 9,115.26
(iii)Section 5.05 Certificate Fund Income-SubServicer 584.96
(v) Principal due Holders 0.00
Less:
(i) Scheduled Payments of principal and interest
due subsequent to the Due Period-Vanderbilt 80,351.88
(i) Scheduled Payments of principal and interest
due subsequent to the Due Period-SubServicer 1,941.58
(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 138,107.44
(iv) Reimburseable Liquidation Expenses 20,000.00
(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 158,107.44
Available Distrubution Amount-Vanderbilt 1,835,645.45
Available Distrubution Amount-SubServicer 85,854.37
To Class A and B 1,766,394.72
Monthly Excess Cashflow 155,105.10
Weighted Average Remaining Term (months) 176.32
Scheduled Balance Computation
Prior Month Balance 132,583,144.53
Current Balance 131,669,535.29
Adv Principal 19,920.79
Del Principal 90,344.61
Pool Scheduled Balance 131,599,111.47
Principal Payments in Full 620,818.33
Partial Prepayments 44,381.54
Scheduled Principal 318,833.19
Collateral Balance 131,669,535.29