Block Mortgage Finance, Inc.
Asset Backed Certificates
Series 1997-2
Statement To Certificateholders
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DISTRIBUTIONS IN DOLLARS
PRIOR CURRENT
ORIGINAL PRINCIPAL REALIZED DEFERRED PRINCIPAL
CLASS FACE VALUE BALANCE INTEREST PRINCIPAL TOTAL LOSSES INTEREST BALANCE
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A-1 45,336,000.00 38,155,084.11 206,991.33 2,742,615.16 2,949,606.49 0.00 0.00 35,412,468.95
A-2 24,279,000.00 24,279,000.00 133,939.15 0.00 133,939.15 0.00 0.00 24,279,000.00
A-3 12,505,000.00 12,505,000.00 71,278.50 0.00 71,278.50 0.00 0.00 12,505,000.00
A-4 16,951,000.00 16,951,000.00 100,152.16 0.00 100,152.16 0.00 0.00 16,951,000.00
A-5 11,007,000.00 11,007,000.00 61,914.38 0.00 61,914.38 0.00 0.00 11,007,000.00
A-6 104,922,000.00 98,521,818.71 524,194.23 1,891,050.95 2,415,245.18 0.00 0.00 96,630,767.76
R 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
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TOTALS 215,000,000.00 201,418,902.82 1,098,469.75 4,633,666.11 5,732,135.86 0.00 0.00 196,785,236.71
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FACTOR INFORMATION PER $1000 OF ORIGINAL FACE PASS-THROUGH
PRIOR CURRENT RATES
PRINCIPAL PRINCIPAL
CLASS CUSIP BALANCE INTEREST PRINCIPAL TOTAL BALANCE CURRENT NEXT
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A-1 09367MAE9 841.606761 4.565717 60.495305 65.061022 781.111456 6.510000% 6.510000%
A-2 09367MAF6 1,000.000000 5.516667 0.000000 5.516667 1,000.000000 6.620000% 6.620000%
A-3 09367MAG4 1,000.000000 5.700000 0.000000 5.700000 1,000.000000 6.840000% 6.840000%
A-4 09367MAH2 1,000.000000 5.908333 0.000000 5.908333 1,000.000000 7.090000% 7.090000%
A-5 09367MAJ8 1,000.000000 5.625000 0.000000 5.625000 1,000.000000 6.750000% 6.750000%
A-6 09367MAK5 939.000579 4.996037 18.023398 23.019435 920.977181 6.178750% 5.647500%
R BL9702101 0.000000 0.000000 0.000000 0.000000 0.000000 0.000000% 0.000000%
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SELLER: Block Financial Corporation ADMINISTRATOR: Vince Valdes
SERVICER: Block Financial Corporation Bankers Trust Company
LEAD UNDERWRITER: Morgan Stanley & Co. 3 Park Plaza
RECORD DATE: December 31, 1997 Irvine, CA 92714
DISTRIBUTION DATE: January 26, FACTOR INFORMATION: (800) 735-7777
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Page 1 of 6 (C) COPYRIGHT 1998 Bankers Trust Company
Block Mortgage Finance, Inc.
Asset Backed Certificates
Series 1997-2
Statement To Certificateholders
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COMPANION SERVICING : Distribution Date: 01/26/98
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DELINQUENT LOAN INFORMATION: 1 - 30 31 - 60 60 - 90 91+
(Statistics Don't Include Foreclosures, Bankruptcies & REOs) DAYS DAYS DAYS DAYS TOTAL
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GROUP I
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PRINCIPAL BALANCE 4,765,517.17 1,966,428.40 264,656.58 89,286.61 7,085,888.76
PERCENTAGE OF POOL BALANCE 4.6521% 1.9196% 0.2584% 0.0872% 6.9173%
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NUMBER OF LOANS 97 30 5 2 134
PERCENTAGE OF LOANS IN POOL 4.4252% 1.3686% 0.2281% 0.0912% 6.1131%
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GROUP II
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PRINCIPAL BALANCE 2,070,013.66 304,814.31 0.00 0.00 2,374,827.97
PERCENTAGE OF POOL BALANCE 2.1000% 0.3092% 0.0000% 0.0000% 2.4092%
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NUMBER OF LOANS 17 3 0 0 20
PERCENTAGE OF LOANS IN POOL 1.7617% 0.3109% 0.0000% 0.0000% 2.0725%
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FORECLOSURE LOAN INFORMATION:
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GROUP I
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PRINCIPAL BALANCE 43,066.70 273,475.09 411,826.81 1,582,341.26 2,310,709.86
PERCENTAGE OF POOL BALANCE 0.0420% 0.2670% 0.4020% 1.5447% 2.2557%
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NUMBER OF LOANS 1 9 11 29 50
PERCENTAGE OF LOANS IN POOL 0.0456% 0.4106% 0.5018% 1.3230% 2.2810%
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GROUP II
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PRINCIPAL BALANCE 0.00 0.00 628,433.82 938,035.02 1,566,468.84
PERCENTAGE OF POOL BALANCE 0.0000% 0.0000% 0.6375% 0.9516% 1.5892%
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NUMBER OF LOANS 0 0 2 10 12
PERCENTAGE OF LOANS IN POOL 0.0000% 0.0000% 0.2073% 1.0363% 1.2435%
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BANKRUPTCY LOAN INFORMATION:
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GROUP I
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PRINCIPAL BALANCE 270,902.43 270,337.39 241,370.18 384,711.51 1,167,321.51
PERCENTAGE OF POOL BALANCE 0.2645% 0.2639% 0.2356% 0.3756% 1.1395%
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NUMBER OF LOANS 8 6 4 5 23
PERCENTAGE OF LOANS IN POOL 0.3650% 0.2737% 0.1825% 0.2281% 1.0493%
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GROUP II
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PRINCIPAL BALANCE 196,382.97 139,268.01 64,568.62 164,396.76 564,616.36
PERCENTAGE OF POOL BALANCE 0.1992% 0.1413% 0.0655% 0.1668% 0.5728%
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NUMBER OF LOANS 3 1 1 1 6
PERCENTAGE OF LOANS IN POOL 0.3109% 0.1036% 0.1036% 0.1036% 0.6218%
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REO LOAN INFORMATION:
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GROUP I
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PRINCIPAL BALANCE 0.00 0.00 0.00 0.00 0.00
PERCENTAGE OF POOL BALANCE 0.0000% 0.0000% 0.0000% 0.0000% 0.0000%
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NUMBER OF LOANS 0 0 0 0 0
PERCENTAGE OF LOANS IN POOL 0.0000% 0.0000% 0.0000% 0.0000% 0.0000%
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GROUP II
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PRINCIPAL BALANCE 0.00 0.00 0.00 274,235.31 274,235.31
PERCENTAGE OF POOL BALANCE 0.0000% 0.0000% 0.0000% 0.2782% 0.2782%
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NUMBER OF LOANS 0 0 0 1 1
PERCENTAGE OF LOANS IN POOL 0.0000% 0.0000% 0.0000% 0.1036% 0.1036%
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Page 2 of 6 (C) COPYRIGHT 1998 Bankers Trust Company
Block Mortgage Finance, Inc.
Asset Backed Certificates
Series 1997-2
Statement To Certificateholders
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OPTION ONE MORTGAGE : Distribution Date: 1/26/98
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DELINQUENT LOAN INFORMATION: 1 - 30 31 - 60 60 - 90 91+
(Statistics Don't Include Foreclosures, Bankruptcies & REOs) DAYS DAYS DAYS DAYS TOTAL
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GROUP I
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PRINCIPAL BALANCE 4,085,800.35 614,673.68 0.00 0.00 4,700,474.03
PERCENTAGE OF POOL BALANCE 3.9886% 0.6000% 0.0000% 0.0000% 4.5886%
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NUMBER OF LOANS 67 9 0 0 76
PERCENTAGE OF LOANS IN POOL 3.0566% 0.4106% 0.0000% 0.0000% 3.4672%
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GROUP II
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PRINCIPAL 24,058,448.05 3,146,756.85 694,746.99 0.00 27,899,951.89
BALANCE
PERCENTAGE OF POOL BALANCE 24.4069% 3.1923% 0.7048% 0.0000% 28.3040%
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NUMBER OF LOANS 216 33 6 0 255
PERCENTAGE OF LOANS IN POOL 22.3834% 3.4197% 0.6218% 0.0000% 26.4249%
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FORECLOSURE LOAN INFORMATION:
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GROUP I
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PRINCIPAL 0.00 0.00 0.00 208,497.66 208,497.66
BALANCE
PERCENTAGE OF POOL BALANCE 0.0000% 0.0000% 0.0000% 0.2035% 0.2035%
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NUMBER OF LOANS 0 0 0 3 3
PERCENTAGE OF LOANS IN POOL 0.0000% 0.0000% 0.0000% 0.1369% 0.1369%
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GROUP II
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PRINCIPAL BALANCE 0.00 0.00 194,564.72 505,734.07 700,298.79
PERCENTAGE OF POOL BALANCE 0.0000% 0.0000% 0.1974% 0.5131% 0.7104%
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NUMBER OF LOANS 0 0 3 5 8
PERCENTAGE OF LOANS IN POOL 0.0000% 0.0000% 0.3109% 0.5181% 0.8290%
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BANKRUPTCY LOAN INFORMATION:
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GROUP I
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PRINCIPAL BALANCE 0.00 0.00 0.00 0.00 0.00
PERCENTAGE OF POOL BALANCE 0.0000% 0.0000% 0.0000% 0.0000% 0.0000%
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NUMBER OF LOANS 0 0 0 0 0
PERCENTAGE OF LOANS IN POOL 0.0000% 0.0000% 0.0000% 0.0000% 0.0000%
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GROUP II
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PRINCIPAL BALANCE 0.00 0.00 0.00 151,415.31 151,415.31
PERCENTAGE OF POOL BALANCE 0.0000% 0.0000% 0.0000% 0.1536% 0.1536%
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NUMBER OF LOANS 0 0 0 2 2
PERCENTAGE OF LOANS IN POOL 0.0000% 0.0000% 0.0000% 0.2073% 0.2073%
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REO LOAN INFORMATION:
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GROUP I
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PRINCIPAL BALANCE 0.00 0.00 0.00 0.00 0.00
PERCENTAGE OF POOL BALANCE 0.0000% 0.0000% 0.0000% 0.0000% 0.0000%
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NUMBER OF LOANS 0 0 0 0 0
PERCENTAGE OF LOANS IN POOL 0.0000% 0.0000% 0.0000% 0.0000% 0.0000%
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GROUP II
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PRINCIPAL BALANCE 0.00 0.00 0.00 0.00 0.00
PERCENTAGE OF POOL BALANCE 0.0000% 0.0000% 0.0000% 0.0000% 0.0000%
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NUMBER OF LOANS 0 0 0 0 0
PERCENTAGE OF LOANS IN POOL 0.0000% 0.0000% 0.0000% 0.0000% 0.0000%
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Page 3 of 6 (C) COPYRIGHT 1998 Bankers Trust Company
Block Mortgage Finance, Inc.
Asset Backed Certificates
Series 1997-2
Statement To Certificateholders
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Distribution Date: 01/26/98
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SERVICER ADVANCES INCLUDED IN THIS DISTRIBUTION: 418,297.84
SERVICER ADVANCES OUTSTANDING: 0.00
ACCRUED SERVICING FEE THE THE CURRENT PERIOD : 85,409.14
PLUS ANY ADDITIONAL SERVICING FEES : 0.00
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85,409.14
LESS PERMITTED REDUCTIONS TO SERVICING FEES : (4,834.26)
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TOTAL SERVICING FEES DUE MASTER SERVICER : 80,574.88
ACCRUED SERVICING FEES COLLECTED FOR CURRENT PERIOD : 65,104.51
COMPENSATING INTEREST: 4,834.26
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TOTAL SERVICING FEES COLLECTED MASTER SERVICER: 60,270.25
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GROUP I MONTHLY ADVANCE AMOUNT: 141,208.70
GROUP II MONTHLY ADVANCE AMOUNT: 277,089.14
TOTAL TRUSTEE FEES DUE : 2,562.27
TOTAL INSURANCE AMOUNT DUE : 9,822.05
PRINCIPAL REMITTANCE AMOUNTS:
SCHEDULED PRINCIPAL 132,080.27
CURTAILMENTS 45,671.09
PREPAYMENTS IN FULL 3,794,262.36
NET LIQUIDATION PROCEEDS 0.00
INSURANCE PRINCIPAL PROCEEDS 0.00
RELEASED MORTGAGED PROPERTY PROCEEDS 0.00
REPURCHASED PRINCIPAL AMOUNTS 0.00
SUBSTITUTION ADJUSTMENTS 0.00
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TOTAL PRINCIPAL DISTRIBUTED: 3,972,013.72
TOTAL AMOUNT OF LIQUIDATION LOAN LOSSES AS OF THE CURRENT DISTRIBUTION DATE: 0.00
AGGREGATE AMOUNT OF LIQUIDATION LOAN LOSSES AS OF THE CURRENT DISTRIBUTION DATE: 0.00
BOOK VALUE OF REO PROPERTY: 0.00
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Page 4 of 6 (C) COPYRIGHT 1998 Bankers Trust Company
Block Mortgage Finance, Inc.
Asset Backed Certificates
Series 1997-2
Statement To Certificateholders
- -----------------------------------------------------------------------------------------------------------------------------------
Distribution Date: 01/26/98
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TOTAL NUMBER OF MORTGAGE LOANS INCLUDED IN THE POOL AS OF THE PRIOR DISTRIBUTION PERIOD: 3,209
TOTAL NUMBER OF MORTGAGE LOANS INCLUDED IN THE POOL AS OF THE CURRENT DISTRIBUTION PERIOD: 3,157
AGGREGATE PRINCIPAL BALANCE OF LOANS IN THE POOL AS OF THE PRIOR DISTRIBUTION PERIOD: 204,981,925.71
AGGREGATE PRINCIPAL BALANCE OF LOANS IN THE POOL AS OF THE CURRENT DISTRIBUTION PERIOD: 201,009,911.99
TOTAL NUMBER OF MORTGAGE LOANS INCLUDED IN GROUP I AS OF THE PRIOR DISTRIBUTION PERIOD: 2,234
TOTAL NUMBER OF MORTGAGE LOANS INCLUDED IN GROUP I AS OF THE CURRENT DISTRIBUTION PERIOD: 2,192
TOTAL PRINCIPAL BALANCE OF LOANS INCLUDED IN GROUP I AS OF THE PRIOR DISTRIBUTION PERIOD: 104,812,211.42
TOTAL PRINCIPAL BALANCE OF LOANS INCLUDED IN GROUP I AS OF THE CURRENT DISTRIBUTION PERIOD: 102,437,388.45
TOTAL NUMBER OF MORTGAGE LOANS INCLUDED IN GROUP II AS OF THE PRIOR DISTRIBUTION PERIOD: 975
TOTAL NUMBER OF MORTGAGE LOANS INCLUDED IN GROUP II AS OF THE CURRENT DISTRIBUTION PERIOD: 965
TOTAL PRINCIPAL BALANCE OF LOANS INCLUDED IN GROUP II AS OF THE PRIOR DISTRIBUTION PERIOD: 100,169,714.29
TOTAL PRINCIPAL BALANCE OF LOANS INCLUDED IN GROUP II AS OF THE CURRENT DISTRIBUTION PERIOD: 98,572,523.54
GROUP I SUBORDINATION INCREASE AMOUNT: 367,792.19
GROUP II SUBORDINATION INCREASE AMOUNT: 293,860.20
GROUP I SUBORDINATION DEFICIT AMOUNT: 0.00
GROUP II SUBORDINATION DEFICIT AMOUNT: 0.00
GROUP I PRINCIPAL REMITTANCE AMOUNT: 2,742,615.16
GROUP II PRINCIPAL REMITTANCE AMOUNT: 1,891,050.95
GROUP I WEIGHTED AVERAGE COUPON AS OF THE CURRENT DISTRIBUTION DATE: 11.3419%
GROUP II WEIGHTED AVERAGE COUPON AS OF THE CURRENT DISTRIBUTION DATE: 10.3716%
GROUP I SUBSTITUTION ADJUSTMENT AMOUNT 0.00
GROUP II SUBSTITUTION ADJUSTMENT AMOUNT 0.00
GROUP I LOAN REPURCHASE AMOUNT 0.00
GROUP II LOAN REPURCHASE AMOUNT 0.00
GROUP I LARGEST LOAN BALANCE 471,408.48
GROUP II LARGEST LOAN BALANCE 497,871.79
TOTAL AMOUNT OF INSURED PAYMENTS INCLUDED IN THE DISTRIBUTION AMOUNT
CLASS A-1 0.00
CLASS A-2 0.00
CLASS A-3 0.00
CLASS A-4 0.00
CLASS A-5 0.00
CLASS A-6 0.00
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Page 5 of 6 (C) COPYRIGHT 1998 Bankers Trust Company
Block Mortgage Finance, Inc.
Asset Backed Certificates
Series 1997-2
Statement To Certificateholders
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Distribution Date: 01/26/98
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TOTAL AMOUNT OF CARRY FORWARD AMOUNT INCLUDED IN DISTRIBUTION AMOUNT :
CLASS A-1 0.00
CLASS A-2 0.00
CLASS A-3 0.00
CLASS A-4 0.00
CLASS A-5 0.00
CLASS A-6 0.00
BASIS RISK CARRYOVER AMOUNT INCLUDED IN DISTRIBUTION AMOUNT : 0.00
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Page 6 of 6 (C) COPYRIGHT 1998 Bankers Trust Company