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EXHIBIT 99
Chemical Bank, Trustee Determination Date: 05-Mar-97
Manufactured Housing Contracts Remittance Date: 07-Mar-97
Senior/Subordinated Pass-Through Certificates Series 1996B Period Ended: 25-Feb-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 1,246,362.43 165,939.37 120,818.63
(b) Formula Principal Distribution Amount
(a) Scheduled Principal Due 341,380.22
(b) Partial Prepayments Received 50,462.30
(c) Principal Payments in Full (Scheduled Balance) 723,311.26
(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 1,115,153.78 0.00 0.00
(c) Interest Distribution 131,208.65 165,939.37 120,818.63
Unpaid Interest Shortfall 0.00 0.00 0.00
------------- ------------- -------------
Total Interest Distribution 131,208.65 165,939.37 120,818.63
(d) Beginning Class A and Class B Principal Balance 24,601,621.34 29,610,000.00 20,786,000.00
Less: Principal Distribution 1,115,153.78 0.00 0.00
-------------- ------------- -------------
Remaining Class A and Class B Principal Balance 23,486,467.56 29,610,000.00 20,786,000.00
(e) Fees Due Servicer
Monthly Servicing Fee 135,961.06 (h) Pool Factor
Section 8.06 Reimbursement Amount 0.00 Class A-1 0.73523878
Section 6.02 Reimbursement Amount 24,000.00 Class A-2 1.00000000
Reimburseable Fees 0.00 Class A-3 1.00000000
-------------- Class A-4 1.00000000
Total Fees Due Servicer 159,961.06 Class A-5 1.00000000
Class A-6 1.00000000
Class B-1 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 7.725%
6,204,000.00 8.250%
No. of Unpaid Principal
(f) Delinquency Contracts Balance
31-59 Days Delinquent 106 3,118,781
60-89 Days Delinquent 23 880,897
90+ Days Delinquent 34 785,292
(g) Section 3.05 Repurchases 0.00
(i) Class R Distribution Amount 338,219.89
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 380,872.39
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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: 05-Mar-97
Manufactured Housing Contracts Remittance Date: 07-Mar-97
Senior/Subordinated Pass-Through Certificates Series 1996B Period Ended: 25-Feb-97
(q) Principal Prepayments paid 773,773.56
(r) Scheduled Principal Payments 341,380.22
(s) Weighted Average Interest Rate 10.99%
Computation of Available Distribution Amount
(i) Certificate Account Balance at Monthly Cutoff-Vanderbilt 2,370,494.43
Certificate Account Balance at Monthly Cutoff-SubServicer 98,910.55
(ii) Monthly Advance made 0.00
(iii)Section 5.05 Certificate Fund Income-Vanderbilt 8,818.85
(iii)Section 5.05 Certificate Fund Income-SubServicer 503.07
(v) Principal due Holders 0.00
Less:
(i) Scheduled Payments of principal and interest
due subsequent to the Due Period-Vanderbilt 90,788.79
(i) Scheduled Payments of principal and interest
due subsequent to the Due Period-SubServicer 3,231.17
(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 135,961.06
(iv) Reimburseable Liquidation Expenses 24,000.00
(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 159,961.06
Available Distrubution Amount-Vanderbilt 2,128,563.43
Available Distrubution Amount-SubServicer 96,182.45
To Class A and B 1,886,525.99
Monthly Excess Cashflow 338,219.89
Weighted Average Remaining Term (months) 175.42
Scheduled Balance Computation
Prior Month Balance 130,522,621.34
Current Balance 129,474,485.73
Adv Principal 21,687.33
Del Principal 88,705.50
Pool Scheduled Balance 129,407,467.56
Principal Payments in Full 723,311.26
Partial Prepayments 50,462.30
Scheduled Principal 341,380.22
Collateral Balance 129,474,485.73