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EXHIBIT 99
Chemical Bank, Trustee Determination Date: 03-Feb-97
Manufactured Housing Contracts Remittance Date: 07-Feb-97
Senior/Subordinated Pass-Through Certificates Series 1996B For the Period Ended: 25-Jan-97
Information for Clauses (a) through (s), Section 7.01
Class A-1 Class A-2 Class A-3
(a) Class A and Class B Distribution Amounts 1,213,440.06 165,939.37 120,818.63
(b) Formula Principal Distribution Amount
(a) Scheduled Principal Due 368,989.73
(b) Partial Prepayments Received 5,465.21
(c) Principal Payments in Full (Scheduled Balance) 702,035.19
(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 1,076,490.13 0.00 0.00
(c) Interest Distribution 136,949.93 165,939.37 120,818.63
Unpaid Interest Shortfall 0.00 0.00 0.00
------------- ------------- -------------
Total Interest Distribution 136,949.93 165,939.37 120,818.63
(d) Beginning Class A and Class B Principal Balance 25,678,111.47 29,610,000.00 20,786,000.00
Less: Principal Distribution 1,076,490.13 0.00 0.00
------------- ------------- -------------
Remaining Class A and Class B Principal Balance 24,601,621.34 29,610,000.00 20,786,000.00
(e) Fees Due Servicer
Monthly Servicing Fee 137,082.41 (h) Pool Factor
Section 8.06 Reimbursement Amount 0.00 Class A-1 0.77014843
Section 6.02 Reimbursement Amount 22,005.00 Class A-2 1.00000000
Reimburseable Fees 0.00 Class A-3 1.00000000
------------- Class A-4 1.00000000
Total Fees Due Servicer 159,087.41 Class A-5 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%
11,030,000.00 7.850%
8,272,000.00 7.25%
6,204,000.00 8.250%
No. of Unpaid Principal
(f) Delinquency Contracts Balance
31-59 Days Delinquent 131 3,919,341
60-89 Days Delinquent 41 1,259,940
90+ Days Delinquent 25 598,601
(g) Section 3.05 Repurchases 0.00
(i) Class R Distribution Amount 229,469.34
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 272,121.84
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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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Chemical Bank, Trustee Determination Date: 03-Feb-97
Manufactured Housing Contracts Remittance Date: 07-Feb-97
Senior/Subordinated Pass-Through Certificates Series 1996B For the Period Ended: 25-Jan-97
(q) Principal Prepayments paid 707,500.40
(r) Scheduled Principal Payments 368,989.73
(s) Weighted Average Interest Rate 10.99%
Computation of Available Distribution Amount
(i) Certificate Account Balance at Monthly Cutoff-Vanderbilt 2,201,166.95
Certificate Account Balance at Monthly Cutoff-SubServicer 101,564.03
(ii) Monthly Advance made 0.00
(iii)Section 5.05 Certificate Fund Income-Vanderbilt 9,848.59
(iii)Section 5.05 Certificate Fund Income-SubServicer 604.28
(v) Principal due Holders 0.00
Less:
(i) Scheduled Payments of principal and interest
due subsequent to the Due Period-Vanderbilt 69,186.12
(i) Scheduled Payments of principal and interest
due subsequent to the Due Period-SubServicer 1,837.36
(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 Proceed $ 0.00
(iii) Monthly Servicing Fee 137,082.41
(iv) Reimburseable Liquidation Expenses 22,005.00
(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 159,087.41
Available Distrubution Amount-Vanderbilt 1,982,742.01
Available Distrubution Amount-SubServicer 100,330.95
To Class A and B 1,853,603.62
Monthly Excess Cashflow 229,469.34
Weighted Average Remaining Term (months) 175.92
Scheduled Balance Computation
Prior Month Balance 131,599,111.47
Current Balance 130,611,981.64
Adv Principal 16,696.21
Del Principal 106,056.51
Pool Scheduled Balance 130,522,621.34
Principal Payments in Full 702,035.19
Partial Prepayments 5,465.21
Scheduled Principal 368,989.73
Collateral Balance 130,611,981.64