Deloitte &
 Touche LLP
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INDEPENDENT ACCOUNTANTS' REPORT

To LSI Financial Group:

We have examined  management's  assertion about LSI Financial Group's compliance
with  the  minimum  servicing  standards  identified  in  the  Mortgage  Bankers
Association of America's UNIFORM SINGLE ATTESTATION PROGRAM FOR MORTGAGE BANKERS
("USAP")  as of and for the  year  ended  December  31,  1996,  included  in the
accompanying  management assertion.  Management is responsible for LSI Financial
Group's compliance with those minimum servicing standards. Our responsibility is
to express an opinion on management's  assertion  about the entity's  compliance
based on our examination.

Our  examination  was  made in  accordance  with  standards  established  by the
American  Institute of Certified Public Accountants and,  accordingly,  included
examining, on a test basis, evidence about LSI Financial Group's compliance with
the minimum  servicing  standards  and  performing  such other  procedures as we
considered  necessary  in the  circumstances.  We believe  that our  examination
provides a reasonable basis for our opinion.  Our examination does not provide a
legal  determination  on LSI  Financial  Group's  compliance  with  the  minimum
servicing standards.

In our opinion,  management's  assertion that LSI Financial  Group complied with
the  aforementioned  minimum  servicing  standards  as of and for the year ended
December 31, 1996, is fairly stated, in all material respects.

/s/ Deloitte & Touche LLP

March 21, 1997



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