FIRST ALLIANCE
MORTGAGE LOAN TRUST
SERIES 1996-2
STATEMENT TO CERTIFICATEHOLDERS
DISTRIBUTIONS IN DOLLARS
PRIOR CURRENT
ORIGINAL PRINCIPAL REALIZED DEFERRED PRINCIPAL
CLASS FACE VALUE BALANCE INTEREST PRINCIPAL TOTAL LOSSES INTEREST BALANCE
- -----------------------------------------------------------------------------------------------------------------------------------
A-1 29,614,000.00 28,986,218.14 174,521.19 410,520.95 585,042.14 0.00 0.00 28,575,697.19
A-2 10,000,000.00 10,000,000.00 64,375.00 0.00 64,375.00 0.00 0.00 10,000,000.00
A-3 10,386,000.00 10,386,000.00 71,187.38 0.00 71,187.38 0.00 0.00 10,386,000.00
A-4 25,000,000.00 24,589,422.55 122,545.83 496,221.40 618,767.23 0.00 0.00 24,093,201.15
R 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
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TOTALS 75,000,000.00 73,961,640.69 432,629.39 906,742.35 1,339,371.74 0.00 0.00 73,054,898.34
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FACTOR INFORMATION PER $1000 OF ORIGINAL FACE PASS-THROUGH RATES
PRIOR CURRENT
PRINCIPAL PRINCIPAL
CLASS CUSIP BALANCE INTEREST PRINCIPAL TOTAL BALANCE CURRENT NEXT
- ---------------------------------------------------------------------------------------------------------------------------------
A-1 31846LBA3 978.801180 5.893199 13.862394 19.755593 964.938785 7.225000% 7.225000%
A-2 31846LBB1 1,000.000000 6.437500 0.000000 6.437500 1,000.000000 7.725000% 7.725000%
A-3 31846LBC9 1,000.000000 6.854167 0.000000 6.854167 1,000.000000 8.225000% 8.225000%
A-4 31846LBD7 983.576902 4.901833 19.848856 24.750689 963.728046 5.787500% 5.850000%
R 0.000000 0.000000 0.000000 0.000000 0.000000 0.000000% 0.000000%
- ---------------------------------------------------------------------------------------------------------------------------------
SELLER: First Alliance Mortgage Company ADMINISTRATOR: Jason Rosiak
SERVICER: First Alliance Mortgage Company Bankers Trust Company
LEAD UNDERWRITER: Prudential Securities Incorporated 3 Park Plaza
RECORD DATE: August 30, 1996 Irvine, CA 92714
DISTRIBUTION DATE: September 20, 1996 FACTOR INFORMATION: (800) 735-7777
Page 1 of 4
FIRST ALLIANCE
MORTGAGE LOAN TRUST
SERIES 1996-2
STATEMENT TO CERTIFICATEHOLDERS
Distribution Date: September 20, 1996
- -------------------------------------------------------------------------------
DELINQUENCY ADVANCES MADE: 35,098.54
ACCRUED SERVICING FEE FOR THE CURRENT PERIOD: 31,020.54
PLUS: ADDITIONAL SERVICING FEES: 0.00
---------
31,020.54
LESS: PERMITTED REDUCTIONS TO SERVICING FEES: (3,203.00)
---------
27,817.54
LESS: UNCOLLECTED SERVICING FEES ACCRUED ON DELINQUENT LOANS: (1,731.50)
---------
ACTUAL COLLECTED SERVICING FEES FOR CURRENT PERIOD: 26,086.04
DELINQUENT* AND LOANS LOANS
FORECLOSURE LOAN 30 60 90 IN IN
INFORMATION DAYS DAYS DAYS TOTAL REO FORECLOSURE
- ---------------------------------------------------------------------------------------------------------------------------
GROUP 1 | PRINCIPAL BALANCE 266,555.94 32,384.87 0.00 298,940.81 0.00 136,584.49
PERCENTAGE OF POOL BALANCE 0.5391% 0.0655% 0.0000% 0.6046% 0.0000% 0.2762%
- ---------------------------------------------------------------------------------------------------------------------------
NUMBER OF LOANS 4 1 0 5 0 3
PERCENTAGE OF LOANS 0.6645% 0.1661% 0.0000% 0.8306% 0.0000% 0.4983%
- ---------------------------------------------------------------------------------------------------------------------------
GROUP 2 | PRINCIPAL BALANCE 323,460.21 306,488.47 0.00 629,948.68 0.00 491,496.50
PERCENTAGE OF POOL BALANCE 1.3353% 1.2652% 0.0000% 2.6005% 0.0000% 2.0290%
- ---------------------------------------------------------------------------------------------------------------------------
NUMBER OF LOANS 4 4 0 8 0 6
PERCENTAGE OF LOANS 1.3937% 1.3937% 0.0000% 2.7875% 0.0000% 2.0906%
- ---------------------------------------------------------------------------------------------------------------------------
*Note: Loans in foreclosure are included in the respective delinquency
categories.
---------------------------
BOOK VALUE OF REO PROPERTY: GROUP 1 0.00
GROUP 2 0.00
---------------------------
---------------------------
SUBSTITUTION PRINCIPAL AMOUNT: GROUP 1 0.00
GROUP 2 0.00
---------------------------
---------------------------
SCHEDULED PRINCIPAL BALANCE OF MORTGAGE LOANS GROUP 1 49,780,394.55
AS OF THE PRIOR DISTRIBUTION DATE: GROUP 2 24,668,909.72
---------------------------
---------------------------
SCHEDULED PRINCIPAL BALANCE OF MORTGAGE LOANS GROUP 1 49,448,319.51
AS OF THE CURRENT DISTRIBUTION DATE: GROUP 2 24,224,008.18
---------------------------
---------------------------
CARRY-FORWARD AMOUNT: GROUP 1 0.00
GROUP 2 0.00
---------------------------
---------------------------
PROJECTED NET MONTHLY EXCESS CASH FLOW: GROUP 1 73,121.46
GROUP 2 56,994.25
---------------------------
Page 2 of 4
FIRST ALLIANCE
MORTGAGE LOAN TRUST
SERIES 1996-2
STATEMENT TO CERTIFICATEHOLDERS
- --------------------------------------------------------------------------------
Distribution Date: September 20, 1996
- --------------------------------------------------------------------------------
-------------------------
NUMBER OF LOANS AS OF THE BEGINNING OF THE REMITTANCE PERIOD: GROUP 1 606
GROUP 2 291
-------------------------
-------------------------
NUMBER OF LOANS AS OF THE END OF THE REMITTANCE PERIOD: GROUP 1 602
GROUP 2 287
-------------------------
-------------------------
WEIGHTED AVERAGE COUPON AS OF THE CURRENT DISTRIBUTION DATE: GROUP 1 9.755467%
GROUP 2 8.931623%
-------------------------
-------------------------
WEIGHTED AVERAGE COUPON AS OF THE NEXT DISTRIBUTION DATE: GROUP 1 9.752617%
GROUP 2 8.945759%
-------------------------
-------------------------
CURTAILMENTS INCLUDED IN CURRENT DISTRIBUTION: GROUP 1 12,057.12
GROUP 2 6,756.89
-------------------------
-------------------------
PREPAYMENTS IN FULL/UNSCHEDULED RECOVERIES OF PRINCIPAL GROUP 1 284,257.89
INCLUDED IN CURRENT DISTRIBUTION: GROUP 2 418,786.20
-------------------------
-------------------------
AMOUNT OF EXCESS SPREAD SUPPORT TO THIS GROUP: GROUP 1 0.00
(FROM OTHER GROUP) GROUP 2 0.00
-------------------------
-------------------------
TRUST TERMINATION PROCEEDS: GROUP 1 0.00
GROUP 2 0.00
-------------------------
-------------------------
INSURED PAYMENTS: GROUP 1 0.00
GROUP 2 0.00
-------------------------
-------------------------
CERTIFICATE INSURER PREMIUM PAYMENT: GROUP 1 6,171.53
GROUP 2 3,073.68
-------------------------
TOTAL: 9,245.21
=========================
-------------------------
PREFUNDING ACCOUNT EARNINGS: GROUP 1 11,580.02
GROUP 2 4,018.07
-------------------------
TOTAL: 15,598.09
=========================
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Page 3 of 4
FIRST ALLIANCE
MORTGAGE LOAN TRUST
SERIES 1996-2
STATEMENT TO CERTIFICATEHOLDERS
Distribution Date: September 20, 1996
- -------------------------------------------------------------------------------
SUBORDINATION TRACKING:
PRIOR SUBORDINATION SUBORDINATION REALIZED CURRENT SPECIFIED
SUBORDINATED INCREASE REDUCTION LOSSES SUBORDINATED SUBORDINATED
AMOUNT AMOUNT AMOUNT AMOUNT AMOUNT
- ----------------------------------------------------------------------------------------------------------------------------
GROUP 1 408,176.41 78,445.91 0.00 0.00 486,622.32 1,382,500.74
GROUP 2 79,487.17 51,319.86 0.00 0.00 130,807.03 562,500.00
- ----------------------------------------------------------------------------------------------------------------------------
TOTAL 487,663.58 129,765.77 0.00 0.00 617,429.35 1,945,000.74
============================================================================================================================
INTEREST ALLOCATION TRACKING:
GROUP 1 GROUP II TOTAL
------------- --------------- --------------
Mortgage Loan Scheduled Interest 404,692.48 183,611.16 588,303.64
LESS: Non-Recoverable Advances 0.00 0.00 0.00
LESS: Prepayment Interest Shortfall not covered by Servicing Fees 0.00 0.00 0.00
LESS: Accrued Servicing Fees (20,741.83) (10,278.71) (31,020.54)
LESS: Insurance Premium Due Certificate Insurer (6,171.53) (3,073.68) (9,245.21)
LESS: Trustee Fee (829.67) (411.15) (1,240.82)
LESS: Current Accrued Interest Due Certificateholders (310,083.56) (122,545.83) (432,629.39)
- --------------------------------------------------------------------------------------------------------------------------
Monthly Excess Spread Amounts 66,865.89 47,301.79 114,167.68
==========================================================================================================================
REALIZED LOSS TRACKING:
GROUP 1 GROUP II
-------------------------------------------------------------------------------------------------------------------
REALIZED RECOVERED RECOVERED TOTAL REALIZED RECOVERED RECOVERED TOTAL
LOSSES DELINQUENCY SERVICING LOSSES DELINQUENCY SERVICING
ADVANCES ADVANCES ADVANCES ADVANCES
-------------------------------------------------------------------------------------------------------------------
Prior: 18,313.80 0.00 0.00 18,313.80 0.00 0.00 0.00 0.00
Current: 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
-------------------------------------------------------------------------------------------------------------------
Cummulative: 18,313.80 0.00 0.00 18,313.80 0.00 0.00 0.00 0.00
===================================================================================================================
SPECIAL LOAN TRACKING:
BANKRUPTCY PROCEEDINGS
-----------------------------------------------------------
NUMBER PRINCIPAL
OF LOANS BALANCE
-----------------------------------------------------------
GROUP I GROUP II GROUP I GROUP II
Current: 1 0 73,213.44 0.00
Delinquent: 0 0 0.00 0.00
-----------------------------------------------------------
TOTAL: 1 0 73,213.44 0.00
===========================================================
Page 4 of 4
FIRST ALLIANCE
MORTGAGE LOAN TRUST
SERIES 1996-2
STATEMENT TO CERTIFICATEHOLDERS
Distribution Date: September 20, 1996
- --------------------------------------------------------------------------------
THE SUM OF: GROUP 1 GROUP 2 TOTAL
------------ ------------- -------------
SCHEDULED INTEREST: 404,692.48 183,611.16 588,303.64
LIQUIDATED INTEREST 0.00 0.00 O.00
INSURANCE INTEREST: 0.00 0.00 0.00
REPURCHASE INTEREST: 0.00 0.00 0.00
LESS: DELINQUENT INTEREST: (17,647.64) (16,688.51) (34,336.15)
PLUS: DELINQUENCY ADVANCES ON MORTGAGE INTEREST: 16,793.90 15,810.75 32,604.65
LESS: ADVANCES DEEMED NON-RECOVERABLE BY SERVICER 0.00 0.00 0.00
PLUS: INVESTMENT EARNINGS ON CERTIFICATE ACCOUNT 0.00 0.00 0.00
---------------------------------------------
PLUS: TOTAL INTEREST 403,838.74 182,733.40 586,572.14
PRINCIPAL COLLECTED: 332,075.04 444,901.54 776,976.58
INSURANCE PRINCIPAL PROCEEDS RECEIVED: 0.00 0.00 0.00
NET LIQUIDATION PROCEEDS: 0.00 0.00 0.00
LOAN PURCHASE PRICE AMOUNTS (Per P&S, Section 7.8 (vii)): 0.00 0.00 0.00
SUBSTITUTION AMOUNTS (Per P&S, Section 7.8 (vii)): 0.00 0.00 0.00
TRUST TERMINATION PROCEEDS: 0.00 0.00 0.00
---------------------------------------------
PLUS: TOTAL PRINCIPAL 332,075.04 444,901.54 776,976.58
SERVICING FEES (Net of Compensating Interest) 18,675.53 7,410.51 26,086.04
PREPAYMENT INTEREST SHORTFALL 1,212.56 1,990.44 3,203.00
TRUSTEE FEES: 829.67 411.15 1,240.82
INSURANCE PREMIUMS: 6,171.53 3,073.68 9,245.21
REIMBURSEMENT OF DELINQUENCY ADVANCES: 0.00 0.00 0.00
REIMBURSEMENTS OF SERVICING ADVANCES: 0.00 0.00 0.00
---------------------------------------------
LESS: TOTAL 26,889.29 12,885.78 39,775.07
---------------------------------------------
TOTAL AVAILABLE FUNDS: 709,024.49 614,749.16 1,323,773.65
=============================================
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