March 31, 1998
Securities and Exchange Commission
Judiciary Plaza
450 Fifth Street, N.W.
Washington, D.C. 20549
Re: Provident Bank Home Equity Loan Trust 1997-B Home Equity Loan
Asset-Backed Certificates, Series 1997-B File No. 333-35275.
Ladies and Gentlemen:
Enclosed herewith for filing on behalf of the trust fund (the
"Trust") created pursuant to a Pooling and Servicing Agreement dated
as of September 1, 1997 (the "Pooling and Servicing Agreement")
among Lehman ABS Corporation, as Depositor (the "Depositor"), The
Provident Bank, as Seller (the "Seller"), and as Master Servicer
(the "Master Servicer"), and Bankers Trust Company of California,
N.A., as Trustee (the "Trustee"), is a Current Report on Form 8-K
(the "Report").
The Home Equity Loan Asset-Backed Certificates, Series 1997-B (the
"Certificates"), will consist of two Classes (each, a "Class") of
senior Certificates: The Class A-1 Certificates and the Class A-2
Certificates (collectively, the "Class A Certificates") and one
Class of subordinated Certificates (the "Class R Certificates").
Only the Class A Certificates (The "Offered Certificates") are
being offered hereby.
The Certificates will evidence in the aggregate the entire
beneficial interest in a pool (the "Mortgage Pool") of closed-end
fixed and adjustable rate mortgage loans
(the "Mortgage Loans") consisting of two groups ("Loan Group 1" and
Loan Group 2", respectively, and each a "Loan Group") held by
Provident Bank Home Equity Loan Trust 1997-B (the "Trust") to be
formed pursuant to the Pooling and Servicing Agreement. The Class
A-1 Certificates (the "Group 1 Certificates") will represent
undivided ownership interests in Loan Group 1 which consists of
Mortgage Loans with fixed interest rates. The Class A-2
Certificates (the "Group 2 Certificates") will represent undivided
ownership interests in Loan Group 2 which consists of Mortgage Loans
with adjustable interest rates. The assets of the Trust will also
include certain other property. The Mortgage Loans are secured by
first and second deeds of trust or mortgages primarily on one- to
four-family residential properties. All of the Mortgage Loans will
be acquired by Lehman ABS Corporation (the "Depositor") from
Provident.
The Offered Certificates were registered under the Securities Act of
1933, as amended, by a Registration Statement on Form S-11 (File No.
333-35275). As a result, the Trust is subject to the filing
requirements of Section 15(d) of the Securities Exchange Act of 1934,
as amended (the "Exchange Act"). The Trust intends to fulfill these
filing requirements in the manner described herein:
The Trust will file, promptly after each Distribution Date (as
defined in the Pooling and Servicing Agreement), a Current Report on
Form 8-K in substantially the form enclosed herewith, including as
an exhibit thereto the applicable Distribution Date report. Each
such Current Report will also disclose under Item 5 any matter
occurring during the relevant reporting period which would be
reportable under Item 1, 2, 4 or 5 of Part II of Form 10-Q.
The Trust will file a Current Report on Form 8-K promptly after the
occurrence of any event described under Item 2, 3, 4 or 5 thereof,
responding to the requirements of the applicable Item.
Within 90 days after the end of each fiscal year, the Trust will file
an annual report of Form 10-K which responds to Items 2, 3, and 4 of
Part I, Items 5 and 9 of Part II, Items 12 and 13 of Part III and
Item 14 of Part IV thereof, and include as exhibits thereto certain
information from the Distribution Date reports aggregated for such
year and a copy of the independent accountants' annual compliance
statement required under the Pooling and Servicing Agreement.
The Trust will follow the above procedures except for any fiscal year
as to which its reporting obligations under Section 15(d) of the
Exchange Act have been suspended pursuant to such Section. In such
event, the Trust will file a Form 15 as required under Rule 15d-6.
Should you wish to discuss the above filing procedures, please call
Judy L. Gomez at (714) 253-7562.
Sincerely,
/s/ Judy L. Gomez
Assistant Vice President
Bankers Trust Company of California, N.A.
S.E.C. Reporting Agent for Provident Bank Home Equity Loan Trust
1997-B Home Equity Loan Asset-Backed Certificates, Series 1997-B.
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
Current Report Pursuant To Section 13 or 15(d) of the
Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): October 25, 1997
THE PROVIDENT BANK
(as depositor under the Pooling and Servicing Agreement, dated as of
September 1, 1997, which forms Provident Bank Home Equity Loan Trust
1997-B, which will issue the Provident Bank Home Equity Loan Trust
1997-B, Home Equity Loan Asset-Backed Certificates, Series 1997-B)
THE PROVIDENT BANK
(Exact name of Registrant as specified in its Charter)
OHIO
(State or Other Jurisdiction of Incorporation)
333-35275 31-0412725
(Commission File Number) (I.R.S. Employer
Identification No.)
ONE EAST FOURTH STREET
CINCINNATI, OHIO 45202
(Address of principal executive offices) (Zip Code)
Registrant's Telephone Number, Including Area Code: (513) 579-2000
ITEM 5. Other Events
Attached hereto are copies of the Monthly Remittance Statements
to the Certificateholders which were derived from the monthly
information submitted by the Master Servicer of the Trust to the
Trustee.
ITEM 7. Financial Statement and Exhibits
Exhibits: (as noted in Item 5 above)
Monthly Remittance Statement to the Certificateholders dated as of
October 27, 1997.
Monthly Remittance Statement to the Certificateholders dated as of
November 25, 1997.
Monthly Remittance Statement to the Certificateholders dated as of
December 26, 1997.
Monthly Remittance Statement to the Certificateholders dated as of
January 26, 1998.
Monthly Remittance Statement to the Certificateholders dated as of
February 25, 1998.
Monthly Remittance Statement to the Certificateholders dated as of
March 25, 1998.
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of
1934, the Registrant has duly caused this report to be signed on its
behalf by the undersigned, hereunto duly authorized.
Bankers Trust Company of California, N.A.,
not in its individual capacity, but solely
as a duly authorized agent of the Registrant
pursuant to the Pooling and Servicing
Agreement, dated as of September 1, 1997.
Date: March 31, 1998 By: /s/ Judy L. Gomez
Judy L. Gomez
Assistant Vice President
EXHIBIT INDEX
Sequential
Document Page Number
Monthly Remittance Statement to the Certificateholders
dated as of October 27, 1997. 5
Monthly Remittance Statement to the Certificateholders
dated as of November 25, 1997. 13
Monthly Remittance Statement to the Certificateholders
dated as of December 26, 1997. 16
Monthly Remittance Statement to the Certificateholders
dated as of January 26, 1998. 19
Monthly Remittance Statement to the Certificateholders
dated as of February 25, 1998. 22
Monthly Remittance Statement to the Certificateholders
dated as of March 25, 1998. 25
PROVIDENT BANK
PRIME HOME EQUITY LOAN TRUST 1997-B
STATEMENT TO CERTIFICATE HOLDERS
DISTRIBUTIONS IN DOLLARS
ORIGINAL PRIOR PRINCIPAL
CLASS FACE VALUE BALANCE INTEREST PRINCIPAL
A-1 45,444,000.00 45,444,000.00 196,531.10 3,105,772.73
A-2 18,524,000.00 18,524,000.00 100,801.43 0.00
A-3 11,569,000.00 11,569,000.00 66,425.34 0.00
R 0.00 0.00 0.00 0.00
TOTALS 75,537,000.00 75,537,000.00 363,757.87 3,105,772.73
TOTAL REALIZED LOSSES DEFERRED INTEREST CURRENT CLASS CUSIP
PRINCIPAL
BALANCE
3,302,303.83 0.00 0.00 43,338,227.27 A-1 743844AS1
100,801.43 0.00 0.00 18,524,000.00 A-2 743844AT9
66,425.34 0.00 0.00 11,569,000.00 A-3 743844AU6
0.00 0.00 0.00 0.00 R
3,469,530.60 0.00 0.00 72,431,227.27
PRIOR CURRENT
PRINCIPAL INTEREST PRINCIPAL TOTAL PRINCIPAL
BALANCE BALANCE CURRENT
1,000.000000 4.324688 68.342856 72.667543 931.657144 5.766250%
1,000.000000 5.441666 0.000000 5.441666 1,000.000000 6.530000%
1,000.000000 5.741667 0.000000 5.741667 1,000.000000 6.890000%
0.000000 0.000000 0.000000 0.000000 0.000000 0.000000%
NEXT
5.766250%
6.530000%
6.890000%
0.000000%
Seller: PROVIDENT BANK Administrator: DAVID N. ARNOLD
Servicer: PROVIDENT BANK . Bankers Trust Company
Lead Underwriter: LEHMAN BROTHERS 3 Park Plaza
Record Date: SEPTEMBER 30, 1997 Irvine, CA 92714
Distribution Date: OCTOBER 27, 1997 Factor Information (800)735-7777
PROVIDENT BANK
PRIME HOME EQUITY LOAN TRUST 1997-B
STATEMENT TO CERTIFICATE HOLDERS
Distribution Date: OCTOBER 27, 1997
DELINQUENCY 30 TO 59 60 TO 89 90 PLUS LOANS IN
INFORMATION DAYS DAYS DAYS FORECLOSURE
PRINC.BAL.-LOAN GROUPI 755,536.01 195,292.55 117,948.43 0.00
PERCENTAGE OF POOL BALANCE 1.0403% 0.2689% 0.1624% 0.00%
NUMBER OF LOANS 44 7 7 0
PERCENTAGE OF LOANS 1.0434% 0.1660% 0.1660% 0.00%
LOANS IN REO LOANS IN BANKRUPTCY
0.00 0.00
0.0000% 0.0000%
0.00 0
0.0000% 0.0000%
Book Value of REO Property 0.00
NUMBER OF LOANS IN BANKRUPTCY PROCEEDINGS LESS THAN 30 DAYS DELINQUENT 0
PRINCIPAL BALANCE OF LOANS IN BANKRUPTCY PROCEEDINGS LESS THAN 30 DAYS
DELINQUENT 0.00
WEIGHTED AVERAGE MORTGAGE INTEREST RATE 9.359086%
WEIGHTED AVERAGE REMAINING TERM TO MATURITY 80
PRIOR NUMBER OF MORTGAGE LOANS INCLUDED IN THE POOL 4344
CURRENT NUMBER OF MORTGAGE LOANS INCLUDED IN THE POOL 4217
PRIOR AGGREGATE PRINCIPAL BALANCE OF THE MORTGAGE LOANS 75,537,103.94
CURRENT AGGREGATE PRINCIPAL BALNCE OF THE MORTGAGE LOANS 72,624,601.94
POOL FACTOR OF LOAN GROUPS 96.144276%
NUMBER OF LOANS SUBJECT TO PRINCIPAL PREPAYMENTS 127
SCHEDULED PRINCIPAL 975,701.42
CURTAILMENTS 0.00
PREPAYMENTS IN FULL 1,936,800.58
NET LIQUIDATIONS 0.00
REPURCHASED PRINCIPAL AMOUNTS 0.00
SUBSTITUTION ADJUSTMENTS 0.00
OCTOBER 27, 1997
TOTAL PRINCIPAL RECEIVED: 2,912,502.00
MONTHLY ADVANCE: 81,336.41
SCHEDULED INTEREST 589,131.87
LIQUIDATION INTEREST 0.00
PREPAYMENT INTEREST SHORTFALL NOT COVERED BY SERVICER (2,228.32)
REPURCHASE INTEREST 0.00
NONRECOVERABLE INTEREST 0.00
ACCRUED SERVICING FEE FOR THE CURRENT PERIOD: 31,473.79
PLUS ADDITIONAL SERVICING COMPENSATON: 0.00
TOTAL SERVICING FEES FUE MASTER SERVICER: 31,473.79
LESS: COMPENSATING INTEREST (2,228.32)
LESS: DELINQUENT SERVICER FEES (4,477.70)
COLLECTED SERVICING FEES FOR CURRENT PERIOD 24,767.77
AMOUNTS PAID TO CERTIFICATE INSURER PURSUANT SECT 5.01(A)(iv) 0.00
REIMBURSEMENT AMOUNT PURSUANT SECT 5.01(A)(viii) 0.00
PREMIUM AMOUNT 0.00
PER $1,000 OF ORIGINAL AMOUNT 0.0000000
REIMBURSEMENTS TO MASTER SERVICER PURSUANT TO SECT 3.03 0.00
INSURED PAYMENTS 0.00
PER $1,000 OF ORIGINAL AMOUNT 0.0000000
TOTAL PRINCIPAL COLLECTED 2,912,502.00
TOTAL INTEREST COLLECTED 557,658.08
TOTAL AVAILABLE FUNDS FOR DISTIRBUTION 3,470,160.08
O/C AMOUNT BEGINNING 103.94
O/C AMOUNT ENDING 193,374.67
O/C REDUCTION AMOUNT 0.00
EXCESS O/C AMOUNT 0.00
SPECIFIED O/C AMOUNT 1,699,583.00
EXCESS SPERAD 193,270.73
DISTRIBUTABLE EXCESS SPREAD DISTRIBUTED TO CLASS A CERTIFICATEHOLDERS193,270.73
NET LIQUIDATION PROCEEDS 0.00
OUTSTANDING CLASS INTEREST CARRYOVER SHORTFALL 0.00
OUTSTANDING CLASS A PRINCIPAL SHORTGALL AMOUNT 0.00
CUMULATIVE NET LOSSES 0.00
PROVIDENT BANK HOME EQUITY LOAN TRUST SERIES 1997-B
Statement To Certificateholders
DISTRIBUTIONS IN DOLLARS
PRIOR
ORIGINAL PRINCIPAL
CLASS FACE VALUE BALANCE INTEREST PRINCIPAL
A-1 41,860,000.00 41,860,000.00 265,113.33 269,899.69
CURRENT
REALIZED DEFERRED PRINCIPAL
TOTAL LOSSES INTEREST BALANCE
535,013.02 0.00 0.00 41,590,100.31
PRIOR
ORIGINAL PRINCIPAL
CLASS FACE VALUE BALANCE INTEREST PRINCIPAL
A-2 111,875,000.00 111,875,000.00 527,323.59 1,339,944.57
CURRENT
REALIZED DEFERRED PRINCIPAL
TOTAL LOSSES INTEREST BALANCE
1,867,268.16 0.00 0.00 110,535,055.43
PRIOR
ORIGINAL PRINCIPAL
CLASS FACE VALUE BALANCE INTEREST PRINCIPAL
R 0.00 0.00 0.00 0.00
CURRENT
REALIZED DEFERRED PRINCIPAL
TOTAL LOSSES INTEREST BALANCE
0.00 0.00 0.00 0.00
TOTALS
PRIOR
ORIGINAL PRINCIPAL
FACE VALUE BALANCE INTEREST PRINCIPAL
153,735,000.00 153,735,000.00 792,436.92 1,609,844.26
CURRENT
REALIZED DEFERRED PRINCIPAL
TOTAL LOSSES INTEREST BALANCE
2,402,281.18 0.00 0.00 152,125,155.74
FACTOR INFORMATION PER $1000 OF ORIGINAL FACE
PRIOR
PRINCIPAL
CLASS CUSIP BALANCE INTEREST PRINCIPAL TOTAL
A-1 743844AA0 1,000.000000 6.333333 6.4476750 12.781009
CURRENT
PRINCIPAL PASS-THROUGH RATES
BALANCE CURRENT NEXT
993.552325 7.600000% 7.600000%
PRIOR
PRINCIPAL
CLASS CUSIP BALANCE INTEREST PRINCIPAL TOTAL
A-2 743844AB8 1,000.000000 4.713507 11.977158 16.690665
CURRENT
PRINCIPAL PASS-THROUGH RATES
BALANCE CURRENT NEXT
988.022842 5.851250% 5.695000%
PRIOR
PRINCIPAL
CLASS CUSIP BALANCE INTEREST PRINCIPAL TOTAL
R 0.000000 0.000000 0.000000 0.000000
CURRENT
PRINCIPAL PASS-THROUGH RATES
BALANCE CURRENT NEXT
0.000000 0.000000% 0.000000%
SELLER: Provident Bank ADMINISTRATOR: David Arnold
SERVICER: Provident Bank Bankers Trust Company
LEAD UNDERWRITER: Lehman Brothers 3 Park Plaza
RECORD DATE: September 30, 1997 Irvine, CA 92714
DISTRIBUTION DATE: October 25, 1997
FACTOR INFORMATION: (800) 735-7777
Page 1 of 1 COPYRIGHT 1997 Bankers Trust Company
PROVIDENT BANK HOME EQUITY LOAN TRUST SERIES 1997-B
Statement To Certificateholders
DISTRIBUTIONS IN DOLLARS
PRIOR
ORIGINAL PRINCIPAL
CLASS FACE VALUE BALANCE INTEREST PRINCIPAL
A-1 41,860,000.00 41,590,100.31 263,403.97 537,491.61
CURRENT
REALIZED DEFERRED PRINCIPAL
TOTAL LOSSES INTEREST BALANCE
800,895.58 0.00 0.00 41,052,608.70
PRIOR
ORIGINAL PRINCIPAL
CLASS FACE VALUE BALANCE INTEREST PRINCIPAL
A-2 111,875,000.00 110,535,055.43 556,939.32 1,744,515.80
CURRENT
REALIZED DEFERRED PRINCIPAL
TOTAL LOSSES INTEREST BALANCE
2,301,455.12 0.00 0.00 108,790,539.63
PRIOR
ORIGINAL PRINCIPAL
CLASS FACE VALUE BALANCE INTEREST PRINCIPAL
R 0.00 0.00 0.00 0.00
CURRENT
REALIZED DEFERRED PRINCIPAL
TOTAL LOSSES INTEREST BALANCE
0.00 0.00 0.00 0.00
TOTALS
PRIOR
ORIGINAL PRINCIPAL
FACE VALUE BALANCE INTEREST PRINCIPAL
153,735,000.00 152,125,155.74 820,343.29 2,282,007.40
CURRENT
REALIZED DEFERRED PRINCIPAL
TOTAL LOSSES INTEREST BALANCE
3,102,350.69 0.00 0.00 149,843,148.33
FACTOR INFORMATION PER $1000 OF ORIGINAL FACE
PRIOR
PRINCIPAL
CLASS CUSIP BALANCE INTEREST PRINCIPAL TOTAL
A-1 743844AA0 993.552325 6.292498 12.840220 19.132718
CURRENT
PRINCIPAL PASS-THROUGH RATES
BALANCE CURRENT NEXT
980.712105 7.600000% 7.600000%
PRIOR
PRINCIPAL
CLASS CUSIP BALANCE INTEREST PRINCIPAL TOTAL
A-2 743844AB8 988.022842 4.978229 15.593437 20.571666
CURRENT
PRINCIPAL PASS-THROUGH RATES
BALANCE CURRENT NEXT
972.429405 5.851250% 5.695000%
PRIOR
PRINCIPAL
CLASS CUSIP BALANCE INTEREST PRINCIPAL TOTAL
R 0.000000 0.000000 0.000000 0.000000
CURRENT
PRINCIPAL PASS-THROUGH RATES
BALANCE CURRENT NEXT
0.000000 0.000000% 0.000000%
SELLER: Provident Bank ADMINISTRATOR: David Arnold
SERVICER: Provident Bank Bankers Trust Company
LEAD UNDERWRITER: Lehman Brothers 3 Park Plaza
RECORD DATE: October 31, 1997 Irvine, CA 92714
DISTRIBUTION DATE: November 25, 1997
FACTOR INFORMATION: (800) 735-7777
Page 1 of 1 COPYRIGHT 1997 Bankers Trust Company
PROVIDENT BANK
PRIME HOME EQUITY LOAN TRUST 1997-B
STATEMENT TO CERTIFICATE HOLDERS
DISTRIBUTIONS IN DOLLARS
ORIGINAL PRIOR PRINCIPAL
CLASS FACE VALUE BALANCE INTEREST PRINCIPAL
A-1 45,444,000.00 45,444,000.00 196,531.10 3,105,772.73
A-2 18,524,000.00 18,524,000.00 100,801.43 0.00
A-3 11,569,000.00 11,569,000.00 66,425.34 0.00
R 0.00 0.00 0.00 0.00
TOTALS 75,537,000.00 75,537,000.00 363,757.87 3,105,772.73
TOTAL REALIZED LOSSES DEFERRED INTEREST CURRENT CLASS CUSIP
PRINCIPAL
BALANCE
3,302,303.83 0.00 0.00 43,338,227.27 A-1 743844AS1
100,801.43 0.00 0.00 18,524,000.00 A-2 743844AT9
66,425.34 0.00 0.00 11,569,000.00 A-3 743844AU6
0.00 0.00 0.00 0.00 R
3,469,530.60 0.00 0.00 72,431,227.27
PRIOR CURRENT
PRINCIPAL INTEREST PRINCIPAL TOTAL PRINCIPAL
BALANCE BALANCE CURRENT
1,000.000000 4.324688 68.342856 72.667543 931.657144 5.766250%
1,000.000000 5.441666 0.000000 5.441666 1,000.000000 6.530000%
1,000.000000 5.741667 0.000000 5.741667 1,000.000000 6.890000%
0.000000 0.000000 0.000000 0.000000 0.000000 0.000000%
NEXT
5.766250%
6.530000%
6.890000%
0.000000%
Seller: PROVIDENT BANK Administrator: DAVID N. ARNOLD
Servicer: PROVIDENT BANK . Bankers Trust Company
Lead Underwriter: LEHMAN BROTHERS 3 Park Plaza
Record Date: SEPTEMBER 30, 1997 Irvine, CA 92714
Distribution Date: OCTOBER 27, 1997 Factor Information (800)735-7777
PROVIDENT BANK
PRIME HOME EQUITY LOAN TRUST 1997-B
STATEMENT TO CERTIFICATE HOLDERS
Distribution Date: OCTOBER 27, 1997
DELINQUENCY 30 TO 59 60 TO 89 90 PLUS LOANS IN
INFORMATION DAYS DAYS DAYS FORECLOSURE
PRINC.BAL.-LOAN GROUPI 755,536.01 195,292.55 117,948.43 0.00
PERCENTAGE OF POOL BALANCE 1.0403% 0.2689% 0.1624% 0.00%
NUMBER OF LOANS 44 7 7 0
PERCENTAGE OF LOANS 1.0434% 0.1660% 0.1660% 0.00%
LOANS IN REO LOANS IN BANKRUPTCY
0.00 0.00
0.0000% 0.0000%
0.00 0
0.0000% 0.0000%
Book Value of REO Property 0.00
NUMBER OF LOANS IN BANKRUPTCY PROCEEDINGS LESS THAN 30 DAYS DELINQUENT 0
PRINCIPAL BALANCE OF LOANS IN BANKRUPTCY PROCEEDINGS LESS THAN 30 DAYS
DELINQUENT 0.00
WEIGHTED AVERAGE MORTGAGE INTEREST RATE 9.359086%
WEIGHTED AVERAGE REMAINING TERM TO MATURITY 80
PRIOR NUMBER OF MORTGAGE LOANS INCLUDED IN THE POOL 4344
CURRENT NUMBER OF MORTGAGE LOANS INCLUDED IN THE POOL 4217
PRIOR AGGREGATE PRINCIPAL BALANCE OF THE MORTGAGE LOANS 75,537,103.94
CURRENT AGGREGATE PRINCIPAL BALNCE OF THE MORTGAGE LOANS 72,624,601.94
POOL FACTOR OF LOAN GROUPS 96.144276%
NUMBER OF LOANS SUBJECT TO PRINCIPAL PREPAYMENTS 127
SCHEDULED PRINCIPAL 975,701.42
CURTAILMENTS 0.00
PREPAYMENTS IN FULL 1,936,800.58
NET LIQUIDATIONS 0.00
REPURCHASED PRINCIPAL AMOUNTS 0.00
SUBSTITUTION ADJUSTMENTS 0.00
OCTOBER 27, 1997
TOTAL PRINCIPAL RECEIVED: 2,912,502.00
MONTHLY ADVANCE: 81,336.41
SCHEDULED INTEREST 589,131.87
LIQUIDATION INTEREST 0.00
PREPAYMENT INTEREST SHORTFALL NOT COVERED BY SERVICER (2,228.32)
REPURCHASE INTEREST 0.00
NONRECOVERABLE INTEREST 0.00
ACCRUED SERVICING FEE FOR THE CURRENT PERIOD: 31,473.79
PLUS ADDITIONAL SERVICING COMPENSATON: 0.00
TOTAL SERVICING FEES FUE MASTER SERVICER: 31,473.79
LESS: COMPENSATING INTEREST (2,228.32)
LESS: DELINQUENT SERVICER FEES (4,477.70)
COLLECTED SERVICING FEES FOR CURRENT PERIOD 24,767.77
AMOUNTS PAID TO CERTIFICATE INSURER PURSUANT SECT 5.01(A)(iv) 0.00
REIMBURSEMENT AMOUNT PURSUANT SECT 5.01(A)(viii) 0.00
PREMIUM AMOUNT 0.00
PER $1,000 OF ORIGINAL AMOUNT 0.0000000
REIMBURSEMENTS TO MASTER SERVICER PURSUANT TO SECT 3.03 0.00
INSURED PAYMENTS 0.00
PER $1,000 OF ORIGINAL AMOUNT 0.0000000
TOTAL PRINCIPAL COLLECTED 2,912,502.00
TOTAL INTEREST COLLECTED 557,658.08
TOTAL AVAILABLE FUNDS FOR DISTIRBUTION 3,470,160.08
O/C AMOUNT BEGINNING 103.94
O/C AMOUNT ENDING 193,374.67
O/C REDUCTION AMOUNT 0.00
EXCESS O/C AMOUNT 0.00
SPECIFIED O/C AMOUNT 1,699,583.00
EXCESS SPERAD 193,270.73
DISTRIBUTABLE EXCESS SPREAD DISTRIBUTED TO CLASS A CERTIFICATEHOLDERS193,270.73
NET LIQUIDATION PROCEEDS 0.00
OUTSTANDING CLASS INTEREST CARRYOVER SHORTFALL 0.00
OUTSTANDING CLASS A PRINCIPAL SHORTGALL AMOUNT 0.00
CUMULATIVE NET LOSSES 0.00
PROVIDENT BANK
PRIME HOME EQUITY LOAN TRUST 1997-B
STATEMENT TO CERTIFICATE HOLDERS
DISTRIBUTIONS IN DOLLARS
ORIGINAL PRIOR PRINCIPAL
CLASS FACE VALUE BALANCE INTEREST PRINCIPAL
A-1 45,444,000.00 39,437,568.35 196,883.84 2,344,135.49
A-2 18,524,000.00 18,524,000.00 100,801.43 0.00
A-3 11,569,000.00 11,569,000.00 66,425.34 0.00
R 0.00 0.00 0.00 0.00
TOTALS 75,537,000.00 69,530,568.35 364,110.61 2,344,135.49
TOTAL REALIZED LOSSES DEFERRED INTEREST CURRENT CLASS CUSIP
PRINCIPAL
BALANCE
2,541,019.33 0.00 0.00 37,093,432.86 A-1 743844AS1
100,801.43 0.00 0.00 18,524,000.00 A-2 743844AT9
66,425.34 0.00 0.00 11,569,000.00 A-3 743844AU6
0.00 0.00 0.00 0.00 R
2,708,246.10 0.00 0.00 67,186,432.86
PRIOR CURRENT
PRINCIPAL INTEREST PRINCIPAL TOTAL PRINCIPAL
BALANCE BALANCE CURRENT
867.827840 4.332450 51.582948 55.915398 816.244892 5.797500%
1,000.000000 5.441666 0.000000 5.441666 1,000.000000 6.530000%
1,000.000000 5.741667 0.000000 5.741667 1,000.000000 6.890000%
0.000000 0.000000 0.000000 0.000000 0.000000 0.000000%
NEXT
6.078750%
6.530000%
6.890000%
0.000000%
Seller: PROVIDENT BANK Administrator: DAVID N. ARNOLD
Servicer: PROVIDENT BANK . Bankers Trust Company
Lead Underwriter: LEHMAN BROTHERS 3 Park Plaza
Record Date: NOVEMBER 28, 1997 Irvine, CA 92714
Distribution Date: DECEMBER 26, 1997 Factor Information (800)735-7777
PROVIDENT BANK
PRIME HOME EQUITY LOAN TRUST 1997-B
STATEMENT TO CERTIFICATE HOLDERS
Distribution Date: DECEMBER 26, 1997
DELINQUENCY 30 TO 59 60 TO 89 90 PLUS LOANS IN
INFORMATION DAYS DAYS DAYS FORECLOSURE
PRINC.BAL.-LOAN GROUPI 115,601.53 136,996.15 214,916.36 0.00
PERCENTAGE OF POOL BALANCE 0.1708% 0.2024% 0.3175% 0.00%
NUMBER OF LOANS 7 8 8 0
PERCENTAGE OF LOANS 0.1754% 0.2005% 0.2005% 0.0000%
LOANS IN REO LOANS IN BANKRUPTCY
0.00 0.00
0.0000% 0.0000%
0.00 0
0.0000% 0.0000%
Book Value of REO Property 0.00
NUMBER OF LOANS IN BANKRUPTCY PROCEEDINGS LESS THAN 30 DAYS DELINQUENT 0
PRINCIPAL BALANCE OF LOANS IN BANKRUPTCY PROCEEDINGS LESS THAN 30 DAYS
DELINQUENT 0.00
WEIGHTED AVERAGE MORTGAGE INTEREST RATE 9.362074%
WEIGHTED AVERAGE REMAINING TERM TO MATURITY 79
PRIOR NUMBER OF MORTGAGE LOANS INCLUDED IN THE POOL 4088
CURRENT NUMBER OF MORTGAGE LOANS INCLUDED IN THE POOL 3990
PRIOR AGGREGATE PRINCIPAL BALANCE OF THE MORTGAGE LOANS 69,890,332.63
CURRENT AGGREGATE PRINCIPAL BALANCE OF THE MORTGAGE LOANS 67,692,433.75
POOL FACTOR OF LOAN GROUPS 89.614812%
NUMBER OF LOANS SUBJECT TO PRINCIPAL PREPAYMENTS 98
SCHEDULED PRINCIPAL 787,940.16
CURTAILMENTS 0.00
PREPAYMENTS IN FULL 1,409,958.72
NET LIQUIDATIONS 0.00
REPURCHASED PRINCIPAL AMOUNTS 0.00
SUBSTITUTION ADJUSTMENTS 0.00
OCTOBER 27, 1997
TOTAL PRINCIPAL RECEIVED: 2,197,898.88
MONTHLY ADVANCE: 7,959.26
SCHEDULED INTEREST 545,265.41
LIQUIDATION INTEREST 0.00
PREPAYMENT INTEREST SHORTFALL NOT COVERED BY SERVICER (1,868.91)
REPURCHASE INTEREST 0.00
NONRECOVERABLE INTEREST 0.00
ACCRUED SERVICING FEE FOR THE CURRENT PERIOD: 29,120.98
PLUS ADDITIONAL SERVICING COMPENSATON: 0.00
TOTAL SERVICING FEES FUE MASTER SERVICER: 29,120.98
LESS: COMPENSATING INTEREST (1,868.91)
LESS: DELINQUENT SERVICER FEES (405.18)
COLLECTED SERVICING FEES FOR CURRENT PERIOD 26,846.89
AMOUNTS PAID TO CERTIFICATE INSURER PURSUANT SECT 5.01(A)(iv) 0.00
REIMBURSEMENT AMOUNT PURSUANT SECT 5.01(A)(viii) 0.00
PREMIUM AMOUNT 5,214.79
PER $1,000 OF ORIGINAL AMOUNT 0.06903614
REIMBURSEMENTS TO MASTER SERVICER PURSUANT TO SECT 3.03 0.00
INSURED PAYMENTS 0.00
PER $1,000 OF ORIGINAL AMOUNT 0.0000000
TOTAL PRINCIPAL COLLECTED 2,197,898.88
TOTAL INTEREST COLLECTED 516,144.43
TOTAL AVAILABLE FUNDS FOR DISTIRBUTION 2,714,043.31
O/C AMOUNT BEGINNING 359,764.28
O/C AMOUNT ENDING 506,000.89
O/C REDUCTION AMOUNT 0.00
EXCESS O/C AMOUNT 0.00
SPECIFIED O/C AMOUNT 1,699,583.00
EXCESS SPERAD 146,236.61
DISTRIBUTABLE EXCESS SPREAD DISTRIBUTED TO CLASS A CERTIFICATEHOLDERS146,236.61
NET LIQUIDATION PROCEEDS 0.00
OUTSTANDING CLASS INTEREST CARRYOVER SHORTFALL 0.00
OUTSTANDING CLASS A PRINCIPAL SHORTGALL AMOUNT 0.00
CUMULATIVE NET LOSSES 0.00
PROVIDENT BANK
PRIME HOME EQUITY LOAN TRUST 1997-B
STATEMENT TO CERTIFICATE HOLDERS
DISTRIBUTIONS IN DOLLARS
ORIGINAL PRIOR PRINCIPAL
CLASS FACE VALUE BALANCE INTEREST PRINCIPAL
A-1 45,444,000.00 39,437,568.35 196,883.84 2,344,135.49
A-2 18,524,000.00 18,524,000.00 100,801.43 0.00
A-3 11,569,000.00 11,569,000.00 66,425.34 0.00
R 0.00 0.00 0.00 0.00
TOTALS 75,537,000.00 69,530,568.35 364,110.61 2,344,135.49
TOTAL REALIZED LOSSES DEFERRED INTEREST CURRENT CLASS CUSIP
PRINCIPAL
BALANCE
2,541,019.33 0.00 0.00 37,093,432.86 A-1 743844AS1
100,801.43 0.00 0.00 18,524,000.00 A-2 743844AT9
66,425.34 0.00 0.00 11,569,000.00 A-3 743844AU6
0.00 0.00 0.00 0.00 R
2,708,246.10 0.00 0.00 67,186,432.86
PRIOR CURRENT
PRINCIPAL INTEREST PRINCIPAL TOTAL PRINCIPAL
BALANCE BALANCE CURRENT
867.827840 4.332450 51.582948 55.915398 816.244892 5.797500%
1,000.000000 5.441666 0.000000 5.441666 1,000.000000 6.530000%
1,000.000000 5.741667 0.000000 5.741667 1,000.000000 6.890000%
0.000000 0.000000 0.000000 0.000000 0.000000 0.000000%
NEXT
6.078750%
6.530000%
6.890000%
0.000000%
Seller: PROVIDENT BANK Administrator: DAVID N. ARNOLD
Servicer: PROVIDENT BANK . Bankers Trust Company
Lead Underwriter: LEHMAN BROTHERS 3 Park Plaza
Record Date: NOVEMBER 28, 1997 Irvine, CA 92714
Distribution Date: DECEMBER 26, 1997 Factor Information (800)735-7777
PROVIDENT BANK
PRIME HOME EQUITY LOAN TRUST 1997-B
STATEMENT TO CERTIFICATE HOLDERS
Distribution Date: DECEMBER 26, 1997
DELINQUENCY 30 TO 59 60 TO 89 90 PLUS LOANS IN
INFORMATION DAYS DAYS DAYS FORECLOSURE
PRINC.BAL.-LOAN GROUPI 115,601.53 136,996.15 214,916.36 0.00
PERCENTAGE OF POOL BALANCE 0.1708% 0.2024% 0.3175% 0.00%
NUMBER OF LOANS 7 8 8 0
PERCENTAGE OF LOANS 0.1754% 0.2005% 0.2005% 0.0000%
LOANS IN REO LOANS IN BANKRUPTCY
0.00 0.00
0.0000% 0.0000%
0.00 0
0.0000% 0.0000%
Book Value of REO Property 0.00
NUMBER OF LOANS IN BANKRUPTCY PROCEEDINGS LESS THAN 30 DAYS DELINQUENT 0
PRINCIPAL BALANCE OF LOANS IN BANKRUPTCY PROCEEDINGS LESS THAN 30 DAYS
DELINQUENT 0.00
WEIGHTED AVERAGE MORTGAGE INTEREST RATE 9.362074%
WEIGHTED AVERAGE REMAINING TERM TO MATURITY 79
PRIOR NUMBER OF MORTGAGE LOANS INCLUDED IN THE POOL 4088
CURRENT NUMBER OF MORTGAGE LOANS INCLUDED IN THE POOL 3990
PRIOR AGGREGATE PRINCIPAL BALANCE OF THE MORTGAGE LOANS 69,890,332.63
CURRENT AGGREGATE PRINCIPAL BALANCE OF THE MORTGAGE LOANS 67,692,433.75
POOL FACTOR OF LOAN GROUPS 89.614812%
NUMBER OF LOANS SUBJECT TO PRINCIPAL PREPAYMENTS 98
SCHEDULED PRINCIPAL 787,940.16
CURTAILMENTS 0.00
PREPAYMENTS IN FULL 1,409,958.72
NET LIQUIDATIONS 0.00
REPURCHASED PRINCIPAL AMOUNTS 0.00
SUBSTITUTION ADJUSTMENTS 0.00
OCTOBER 27, 1997
TOTAL PRINCIPAL RECEIVED: 2,197,898.88
MONTHLY ADVANCE: 7,959.26
SCHEDULED INTEREST 545,265.41
LIQUIDATION INTEREST 0.00
PREPAYMENT INTEREST SHORTFALL NOT COVERED BY SERVICER (1,868.91)
REPURCHASE INTEREST 0.00
NONRECOVERABLE INTEREST 0.00
ACCRUED SERVICING FEE FOR THE CURRENT PERIOD: 29,120.98
PLUS ADDITIONAL SERVICING COMPENSATON: 0.00
TOTAL SERVICING FEES FUE MASTER SERVICER: 29,120.98
LESS: COMPENSATING INTEREST (1,868.91)
LESS: DELINQUENT SERVICER FEES (405.18)
COLLECTED SERVICING FEES FOR CURRENT PERIOD 26,846.89
AMOUNTS PAID TO CERTIFICATE INSURER PURSUANT SECT 5.01(A)(iv) 0.00
REIMBURSEMENT AMOUNT PURSUANT SECT 5.01(A)(viii) 0.00
PREMIUM AMOUNT 5,214.79
PER $1,000 OF ORIGINAL AMOUNT 0.06903614
REIMBURSEMENTS TO MASTER SERVICER PURSUANT TO SECT 3.03 0.00
INSURED PAYMENTS 0.00
PER $1,000 OF ORIGINAL AMOUNT 0.0000000
TOTAL PRINCIPAL COLLECTED 2,197,898.88
TOTAL INTEREST COLLECTED 516,144.43
TOTAL AVAILABLE FUNDS FOR DISTIRBUTION 2,714,043.31
O/C AMOUNT BEGINNING 359,764.28
O/C AMOUNT ENDING 506,000.89
O/C REDUCTION AMOUNT 0.00
EXCESS O/C AMOUNT 0.00
SPECIFIED O/C AMOUNT 1,699,583.00
EXCESS SPERAD 146,236.61
DISTRIBUTABLE EXCESS SPREAD DISTRIBUTED TO CLASS A CERTIFICATEHOLDERS146,236.61
NET LIQUIDATION PROCEEDS 0.00
OUTSTANDING CLASS INTEREST CARRYOVER SHORTFALL 0.00
OUTSTANDING CLASS A PRINCIPAL SHORTGALL AMOUNT 0.00
CUMULATIVE NET LOSSES 0.00
PROVIDENT BANK
PRIME HOME EQUITY LOAN TRUST 1997-B
STATEMENT TO CERTIFICATE HOLDERS
DISTRIBUTIONS IN DOLLARS
CLASS FACE VALUE BALANCE INTEREST PRINCIPAL
A-1 45,444,000.00 34,161,106.46 162,594.34 2,457,310.15
A-2 18,524,000.00 18,524,000.00 100,801.43 0.00
A-3 11,569,000.00 11,569,000.00 66,425.34 0.00
R 0.00 00.00 0.00 0.00
75,537,000.00 64,254,106.46 329,821.11 2,457,310.15
TOTAL REALIZED LOSSES DEFERRED CURRENT CLASS CUSIP
INTEREST PRINCIPAL
BALANCE
2,619,904.49 0.00 0.00 31,703,796.31 A-1 743844AS1
100,801.43 0.00 0.00 18,524,000.00 A-2 743844AT9
66,425.34 0.00 0.00 11,569,000.00 A-3 743844AU6
0.00 0.00 0.00 0.00 R
2,787,131.26 0.00 0.00 61,796,796.31
PRIOR CURRENT
PRINCIPAL INTEREST PRINCIPAL TOTAL PRINCIPAL
BALANCE BALANCE CURRENT
751.718741 3.577906 54.073368 57.651274 697.645373 5.711560%
1,000.000000 5.441666 0.000000 5.441666 1,000.000000 6.530000%
1,000.000000 5.741667 0.000000 5.741667 1,000.000000 6.890000%
0.000000 0.000000 0.000000 0.000000 0.000000 0.000000%
Seller: PROVIDENT BANK Administrator: DAVID ARNOLD
Servicer: PROVIDENT BANK . Bankers Trust Company
Lead Underwriter: LEHMAN BROTHERS 3 Park Plaza
Record Date: JANUARY 30, 1998 Irvine, CA 92714
Distribution Date: FEBRUARY 25,1998 Factor Information (800)735-7777
PROVIDENT BANK
PRIME HOME EQUITY LOAN TRUST 1997-B
STATEMENT TO CERTIFICATE HOLDERS
Distribution Date: FEBRUARY 25, 1998
DELINQUENCY 30 TO 59 60 TO 89 90 PLUS LOANS IN
INFORMATION DAYS DAYS DAYS FORECLOSURE
PRINC.BAL.-LOAN GROUPI 84,926.15 120,283.33 188,459.48 0.00
PERCENTAGE OF POOL BALANCE 0.1357% 0.1922% 0.3011% 0.00%
NUMBER OF LOANS 6 9 12 0.00
PERCENTAGE OF LOANS 0.1585% 0.2377% 0.3170% 0
LOANS IN REO LOANS IN BANKRUPTCY
0.00 0.00
0.0000% 0.0000%
0 0
0.0000% 0.0000%
Book Value of REO Property 0.00
NUMBER OF LOANS IN BANKRUPTCY PROCEEDINGS LESS THAN 30 DAYS DELINQUENT
PRINCIPAL BALANCE OF LOANS IN BANKRUPTCY PROCEEDINGS LESS THAN 30DAYSDELINQUENT
0.00
WEIGHTED AVERAGE MORTGAGE INTEREST RATE 9.361620%
WEIGHTED AVERAGE REMAINING TERM TO MATURITY 78
PRIOR NUMBER OF MORTGAGE LOANS INCLUDED IN THE POOL 3884
CURRENT NUMBER OF MORTGAGE LOANS INCLUDED IN THE POOL 3786
PRIOR AGGREGATE PRINCIPAL BALANCE OF THE MORTGAGE LOANS 64,893,259.15
CURRENT AGGREGATE PRINCIPAL BALANCE OF THE MORTGAGE LOANS 62,579,984.20
POOL FACTOR OF LOAN GROUPS 82.846682%
NUMBER OF LOANS SUBJECT TO PRINCIPAL PREPAYMENTS 98
SCHEDULED PRINCIPAL 815,671.62
CURTAILMENTS 0.00
PREPAYMENTS IN FULL 1,497,603.33
NET LIQUIDATIONS 0.00
REPURCHASED PRINCIPAL AMOUNTS 0.00
SUBSTITUTION ADJUSTMENTS 0.00
TOTAL PRINCIPAL RECEIVED: 2,313,274.95
MONTHLY ADVANCE: 5,005.48
SCHEDULED INTEREST 506,255.01
LIQUIDATION INTEREST 0.00
PREPAYMENT INTEREST SHORTFALL NOT COVERED BY SERVICER 0.00
REPURCHASE INTEREST 0.00
NONRECOVERABLE INTEREST 0.00
ACCRUED SERVICING FEE FOR THE CURRENT PERIOD: 27,038.86
PLUS ADDITIONAL SERVICING COMPENSATON: 0.00
TOTAL SERVICING FEES FUE MASTER SERVICER: 27,038.86
LESS: COMPENSATING INTEREST (1,328.27)
LESS: DELINQUENT SERVICER FEES (246.93)
COLLECTED SERVICING FEES FOR CURRENT PERIOD 25,463.66
AMOUNTS PAID TO CERTIFICATE INSURER PURSUANT SECT 5.01(A)(iv) 0.00
REIMBURSEMENT AMOUNT PURSUANT SECT 5.01(A)(viii) 0.00
PREMIUM AMOUNT 4,819.06
PER $1,000 OF ORIGINAL AMOUNT 0.06379726
REIMBURSEMENTS TO MASTER SERVICER PURSUANT TO SECT 3.03 0.00
INSURED PAYMENTS 0.00
PER $1,000 OF ORIGINAL AMOUNT 0.0000000
TOTAL PRINCIPAL COLLECTED 2,313,274.95
TOTAL INTEREST COLLECTED 479,216.15
TOTAL AVAILABLE FUNDS FOR DISTIRBUTION 2,792,491.10
O/C AMOUNT BEGINNING 639,152.69
O/C AMOUNT ENDING 783,187.89
O/C REDUCTION AMOUNT 0.00
EXCESS O/C AMOUNT 0.00
SPECIFIED O/C AMOUNT 1,699,583.00
EXCESS SPERAD 144,035.20
DISTRIBUTABLE EXCESS SPREAD DISTRIBUTED TO CLASS A CERTIFICATEHOLDERS144,035.20
NET LIQUIDATION PROCEEDS 0.00
OUTSTANDING CLASS INTEREST CARRYOVER SHORTFALL 0.00
OUTSTANDING CLASS A PRINCIPAL SHORTGALL AMOUNT 0.00
CUMULATIVE NET LOSSES 0.00
PROVIDENT BANK
PRIME HOME EQUITY LOAN TRUST 1997-B
STATEMENT TO CERTIFICATE HOLDERS
DISTRIBUTIONS IN DOLLARS
ORIGINAL PRIOR PRINCIPAL
CLASS FACE VALUE BALANCE INTEREST PRINCIPAL
A-1 45,444,000.00 31,703,796.31 141,416.54 2,888,628.83
A-2 18,524,000.00 18,524,000.00 100,801.43 0.00
A-3 11,569,000.00 11,569,000.00 66,425.34 0.00
R 0.00 00.00 0.00 0.00
75,537,000.00 61,796,796.31 308,643.31 2,888,628.86
TOTAL REALIZED LOSSES DEFERRED INTEREST CURRENT CLASS CUSIP
PRINCIPAL
BALANCE
3,030,045.37 0.00 0.00 28,815,167.48 A-1 743844AS1
100,801.43 0.00 0.00 18,524,000.00 A-2 743844AT9
66,425.34 0.00 0.00 11,569,000.00 A-3 743844AU6
0.00 0.00 0.00 R
3,197,272.14 0.00 0.00 58,908,167.48
PRIOR CURRENT
PRINCIPAL INTEREST PRINCIPAL TOTAL PRINCIPAL
BALANCE BALANCE CURRENT
697.645373 3.111886 63.564581 66.676467 634.080791 5.735000%
1,000.000000 5.441666 0.000000 5.441666 1,000.000000 6.530000%
1,000.000000 5.741667 0.000000 5.741667 1,000.000000 6.890000%
0.000000 0.000000 0.000000 0.000000 0.000000 0.000000%
NEXT
5.797500%
6.530000%
6.890000%
0.000000%
Seller: PROVIDENT BANK Administrator: ALAN T. SUEDA
Servicer: PROVIDENT BANK . Bankers Trust Company
Lead Underwriter: LEHMAN BROTHERS 3 Park Plaza
Record Date: FEBRUARY 27, 1998 Irvine, CA 92714
Distribution Date: MARCH 25,1998 Factor Information (800)735-7777
PROVIDENT BANK
PRIME HOME EQUITY LOAN TRUST 1997-B
STATEMENT TO CERTIFICATE HOLDERS
Distribution Date: MARCH 25, 1998
DELINQUENCY 30 TO 59 60 TO 89 90 PLUS LOANS IN
INFORMATION DAYS DAYS DAYS FORECLOSURE
PRINC.BAL.-LOAN GROUPI 50,067.12 59,939.54 186,118.46 84,706.81
PERCENTAGE OF POOL BALANCE 0.0837% 0.1002% 0.3110% 0.1416%
NUMBER OF LOANS 5 4 9 8
PERCENTAGE OF LOANS 0.1369% 0.1096% 0.2465% .2191%
LOANS IN REO LOANS IN BANKRUPTCY
0.00 0.00
0.0000% 0.0000%
0.00 0
0.0000% 0.0000%
Book Value of REO Property 0.00
NUMBER OF LOANS IN BANKRUPTCY PROCEEDINGS LESS THAN 30 DAYS DELINQUENT 0
PRINCIPAL BALANCE OF LOANS IN BANKRUPTCY PROCEEDINGS LESS THAN 30 DAYS
DELINQUENT 0.00
WEIGHTED AVERAGE MORTGAGE INTEREST RATE 9.364470%
WEIGHTED AVERAGE REMAINING TERM TO MATURITY 78
PRIOR NUMBER OF MORTGAGE LOANS INCLUDED IN THE POOL 3886
CURRENT NUMBER OF MORTGAGE LOANS INCLUDED IN THE POOL 3651
PRIOR AGGREGATE PRINCIPAL BALANCE OF THE MORTGAGE LOANS 64,579,984.20
CURRENT AGGREGATE PRINCIPAL BALANCE OF THE MORTGAGE LOANS 59,839,837.81
POOL FACTOR OF LOAN GROUPS 79.219132%
NUMBER OF LOANS SUBJECT TO PRINCIPAL PREPAYMENTS 135
SCHEDULED PRINCIPAL 889,442.88
CURTAILMENTS 0.00
PREPAYMENTS IN FULL 1,850,703.51
NET LIQUIDATIONS 0.00
REPURCHASED PRINCIPAL AMOUNTS 0.00
SUBSTITUTION ADJUSTMENTS 0.00
TOTAL PRINCIPAL RECEIVED: 2,740,146.39
MONTHLY ADVANCE: 5,589.56
SCHEDULED INTEREST 488,357.01
LIQUIDATION INTEREST 0.00
PREPAYMENT INTEREST SHORTFALL NOT COVERED BY SERVICER 0.00
REPURCHASE INTEREST 0.00
NONRECOVERABLE INTEREST 0.00
ACCRUED SERVICING FEE FOR THE CURRENT PERIOD: 26,074.99
PLUS ADDITIONAL SERVICING COMPENSATON: 0.00
TOTAL SERVICING FEES FUE MASTER SERVICER: 26,074.99
LESS: COMPENSATING INTEREST (2,306.62)
LESS: DELINQUENT SERVICER FEES (281.81)
COLLECTED SERVICING FEES FOR CURRENT PERIOD 23,486.56
AMOUNTS PAID TO CERTIFICATE INSURER PURSUANT SECT 5.01(A)(iv) 0.00
REIMBURSEMENT AMOUNT PURSUANT SECT 5.01(A)(viii) 0.00
PREMIUM AMOUNT 4,634.76
PER $1,000 OF ORIGINAL AMOUNT 0.06135740
REIMBURSEMENTS TO MASTER SERVICER PURSUANT TO SECT 3.03 0.00
INSURED PAYMENTS 0.00
PER $1,000 OF ORIGINAL AMOUNT 0.0000000
TOTAL PRINCIPAL COLLECTED 2,740,146.39
TOTAL INTEREST COLLECTED 462,282.01
TOTAL AVAILABLE FUNDS FOR DISTIRBUTION 3,202,428.40
O/C AMOUNT BEGINNING 783,187.89
O/C AMOUNT ENDING 931,670.33
O/C REDUCTION AMOUNT 0.00
EXCESS O/C AMOUNT 0.00
SPECIFIED O/C AMOUNT 1,699,583.00
EXCESS SPERAD 148,482.44
DISTRIBUTABLE EXCESS SPREAD DISTRIBUTED TO CLASS A CERTIFICATEHOLDERS148,482.44
NET LIQUIDATION PROCEEDS 0.00
OUTSTANDING CLASS INTEREST CARRYOVER SHORTFALL 0.00
OUTSTANDING CLASS A PRINCIPAL SHORTGALL AMOUNT 0.00
CUMULATIVE NET LOSSES 0.00