1
Chemical Bank, Trustee Determination Date: 05-May-97
Manufactured Housing Contracts Remittance Date: 07-May-97
Senior/Subordinated Pass-Through Certificates Series 1996B For the Period Ended: 25-Apr-97
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 1,411,376.43 165,939.37 120,818.63 76,366.67
(b) Formula Principal Distribution Amount
(a) Scheduled Principal Due 352,009.97
(b) Partial Prepayments Received 26,271.29
(c) Principal Payments in Full (Scheduled Balance) 913,654.41
(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 1,291,935.67 0.00 0.00 0.00
(c) Interest Distribution 119,440.76 165,939.37 120,818.63 76,366.67
Unpaid Interest Shortfall 0.00 0.00 0.00 0.00
--------------- --------------- -------------- --------------
Total Interest Distribution 119,440.76 165,939.37 120,818.63 76,366.67
(d) Beginning Class A and Class B Principal Balance 22,395,142.63 29,610,000.00 20,786,000.00 12,640,000.00
Less: Principal Distribution 1,291,935.67 0.00 0.00 0.00
--------------- --------------- -------------- --------------
Remaining Class A and Class B Principal Balance 21,103,206.96 29,610,000.00 20,786,000.00 12,640,000.00
(e) Fees Due Servicer
Monthly Servicing Fee 133,662.65 (h) Pool Factor
Section 8.06 Reimbursement Amount 0.00 Class A-1 0.66063132
Section 6.02 Reimbursement Amount 24,610.72 Class A-2 1.00000000
Reimburseable Fees 0.00 Class A-3 1.00000000
_______________ Class A-4 1.00000000
Total Fees Due Servicer 158,273.37 Class A-5 1.00000000
Class A-6 1.00000000
No. of Unpaid Principal Class B-1 1.00000000
(f) Delinquency Contracts Balance Class B-2 1.00000000
31-59 Days Delinquent 118 3,463,697
60-89 Days Delinquent 22 709,467
90+ Days Delinquent 28 753,963
(g) Section 3.05 Repurchases 0.00
(i) Class R Distribution Amount 358,081.81
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 400,734.31
---------------
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 939,925.70
(r) Scheduled Principal Payments 352,009.97
(s) Weighted Average Interest Rate 10.99%
(a) Class A and Class B Distribution Amounts Class A-5 Class A-6 Class B-1 Class B-2
(b) Formula Principal Distribution Amount 108,980.81 72,154.58 53,251.00 42,652.50
(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
-------------- -------------- ------------- -------------
(c) Interest Distribution 0.00 0.00 0.00 0.00
Unpaid Interest Shortfall
108,980.81 72,154.58 53,251.00 42,652.50
Total Interest Distribution 0.00 0.00 0.00 0.00
-------------- -------------- ------------- -------------
(d) Beginning Class A and Class B Principal Balance 108,980.81 72,154.58 53,251.00 42,652.50
Less: Principal Distribution
17,379,000.00 11,030,000.00 8,272,000.00 6,204,000.00
Remaining Class A and Class B Principal Balance 0.00 0.00 0.00 0.00
-------------- -------------- ------------- -------------
(e) Fees Due Servicer 17,379,000.00 11,030,000.00 8,272,000.00 6,204,000.00
Monthly Servicing Fee
Section 8.06 Reimbursement Amount
Section 6.02 Reimbursement Amount Original Balance Rate
Reimburseable Fees 31,944,000.00 6.400%
29,610,000.00 6.725%
Total Fees Due Servicer 20,786,000.00 6.975%
12,640,000.00 7.250%
No. of 17,379,000.00 7.525%
(f) Delinquency Contracts 11,030,000.00 7.850%
8,272,000.00 7.725%
6,204,000.00 8.250%
2
Chemical Bank, Trustee Determination Date: 05-May-97
Manufactured Housing Contracts Remittance Date: 07-May-97
Senior/Subordinated Pass-Through Certificates Series 1996B For the Period Ended: 25-Apr-97
Computation of Available Distribution Amount
(i) Certificate Account Balance at Monthly Cutoff-Vanderbilt 2,516,865.50
Certificate Account Balance at Monthly Cutoff-SubServicer 129,798.58
(ii) Monthly Advance made 0.00
(iii)Section 5.05 Certificate Fund Income-Vanderbilt 8,728.83
(iii)Section 5.05 Certificate Fund Income-SubServicer 560.25
(v) Principal due Holders 0.00
Less:
(i) Scheduled Payments of principal and interest
due subsequent to the Due Period-Vanderbilt 84,120.97
(i) Scheduled Payments of principal and interest
due subsequent to the Due Period-SubServicer 3,937.02
(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 133,662.65
(iv) Reimburseable Liquidation Expenses 24,610.72
(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 158,273.37
Available Distrubution Amount-Vanderbilt 2,283,199.99
Available Distrubution Amount-SubServicer 126,421.81
To Class A and B 2,051,539.99
Monthly Excess Cashflow 358,081.81
Weighted Average Remaining Term (months) 174.41
Scheduled Balance Computation
Prior Month Balance 128,316,142.63
Current Balance 127,104,167.15
Adv Principal 21,066.57
Del Principal 101,026.76
Pool Scheduled Balance 127,024,206.96
Principal Payments in Full 913,654.41
Partial Prepayments 26,271.29
Scheduled Principal 352,009.97
Collateral Balance 127,104,167.15