1
Cityscape Home Equity Loan Trust
Series 1997-C
STATEMENT TO CERTIFICATEHOLDERS
Distribution Date: 12/26/97
FACTORS (Per $1000 Of Original Certificate Balance)
Original Interest Principal Certificate
CUSIP Certificate Distribution Distribution Balance
Class Number Balance Factor Factor Factor
A-1 178779CP7 39,600,000.00 4.15099242 28.48072197 798.71914192
A-2 178779CQ5 27,500,000.00 5.65000000 0.00000000 1,000.00000000
A-3 178779CR3 12,438,000.00 6.15000000 0.00000000 1,000.00000000
A-4 178779CS1 7,800,000.00 5.83333333 0.00000000 1,000.00000000
M-1F 178779CU6 6,659,000.00 6.03333383 0.00000000 1,000.00000000
M-2F 178779CV4 4,867,000.00 6.23333265 0.00000000 1,000.00000000
B-1F 178779CW2 3,586,076.00 6.52500114 0.00000000 1,000.00000000
A-5 178779CT9 78,527,000.00 4.70837877 26.06737581 896.37796264
M-1A 178779CX0 9,268,000.00 5.32812473 0.00000000 1,000.00000000
M-2A 178779CY8 5,609,000.00 5.50034766 0.00000000 1,000.00000000
B-1A 178779CZ5 4,145,924.00 5.84479117 0.00000000 1,000.00000000
INTEREST Current
Prior Interest urrent Month Current Current Interest
Certificate Carryover Interest Interest Interest Carryover
Class Rate Shortfall Accrual Amount Payment Shortfall
0.00
A-1 5.82750% 0.00 164,379.30 164,379.30 164,379.30 0.00
A-2 6.78000% 0.00 155,375.00 155,375.00 155,375.00 0.00
A-3 7.38000% 0.00 76,493.70 76,493.70 76,493.70 0.00
A-4 7.00000% 0.00 45,500.00 45,500.00 45,500.00 0.00
M-1F 7.24000% 0.00 40,175.97 40,175.97 40,175.97 0.00
M-2F 7.48000% 0.00 30,337.63 30,337.63 30,337.63 0.00
B-1F 7.83000% 0.00 23,399.15 23,399.15 23,399.15 0.00
Group I Total 0.00 535,660.75 535,660.75 535,660.75 0.00
A-5 5.92750% 0.00 369,734.86 369,734.86 369,734.86 0.00
M-1A 6.18750% 0.00 49,381.06 49,381.06 49,381.06 0.00
M-2A 6.38750% 0.00 30,851.45 30,851.45 30,851.45 0.00
B-1A 6.78750% 0.00 24,232.06 24,232.06 24,232.06 0.00
Group II Total 0.00 474,199.43 474,199.43 474,199.43 0.00
PRINCIPAL
Beginning Principal Principal Ending Principal Optimal
Certificate Distribution Loss Principal Certificate Loss Reim- Principal Principal
Class Balance Amount Allocation Reduction Balance bursement Distribution Balance
A-1 32,757,114.61 1,127,836.59 --- 1,127,836.59 31,629,278.02 --- 1,127,836.59 0.00
A-2 27,500,000.00 0.00 --- 0.00 27,500,000.00 --- 0.00 0.00
A-3 12,438,000.00 0.00 --- 0.00 12,438,000.00 --- 0.00 0.00
A-4 7,800,000.00 0.00 --- 0.00 7,800,000.00 --- 0.00 0.00
M-1F 6,659,000.00 0.00 0.00 0.00 6,659,000.00 0.00 0.00 0.00
M-2F 4,867,000.00 0.00 0.00 0.00 4,867,000.00 0.00 0.00 0.00
B-1F 3,586,076.00 0.00 0.00 0.00 3,586,076.00 0.00 0.00 0.00
Group 95,607,190.61 1,127,836.59 0.00 1,127,836.59 94,479,354.02 0.00 1,127,836.59 0.00
A-5 72,436,865.09 2,046,992.82 --- 2,046,992.82 70,389,872.27 --- 2,046,992.82 0.00
M-1A 9,268,000.00 0.00 0.00 0.00 9,268,000.00 0.00 0.00 0.00
M-2A 5,609,000.00 0.00 0.00 0.00 5,609,000.00 0.00 0.00 0.00
B-1A 4,145,924.00 0.00 0.00 0.00 4,145,924.00 0.00 0.00 0.00
Group 91,459,789.09 2,046,992.82 0.00 2,046,992.82 89,412,796.27 0.00 2,046,992.82 0.00
COLLECTION ACCOUNT
INTEREST REMITTANCE AMOUNT Group I Group II
Aggregate Loan Balance 97,143,941.74 92,921,490.56
Weighted Average Net Mortgage Rate 11.132826% 10.282293%
Net Interest Due from Loans 901,238.81 796,204.99
Net Prepayment Interest Shortfall 0.00 0.00
Interest Remittance Amount 901,238.81 796,204.99
PRINCIPAL REMITTANCE AMOUNT Group I Group II
Scheduled Principal Received 75,954.66 32,300.61
Partial Prepayments Received 122,370.78 4,785.23
Paid in Full Principal Received 815,361.15 1,688,772.56
Net Liquidation Proceeds 0.00 0.00
Blanket Policy Deductible Amounts 0.00 0.00
Purchase Price Amount Received 114,150.00 0.00
Substitution Shortfall Amount Received 0.00 0.00
Principal Remittance Amount 1,127,836.59 1,725,858.40
CERTIFICATE ACCOUNT AMOUNT Group I Group II
Interest Remittance Amount 901,238.81 796,204.99
Principal Remittance Amount 1,127,836.59 1,725,858.40
Termination Price 0.00 0.00
Investment Losses 0.00 0.00
Unutilized Funding Amount 0.00 ---
Pre-Funding Account Earnings 0.00 ---
Capitalized Interest Requirement 0.00 ---
Amount Available 2,029,075.40 2,522,063.39
Trustee Fee 910.72 871.14
Distribution Account Amount 2,028,164.68 2,521,192.25
REGULAR PRINCIPAL DISTRIBUTION AMOUNT Group I Group II
Principal Remittance Amount 1,127,836.59 1,725,858.40
Regular Pre-Funding Distribution Amount 0.00 ---
Termination Price 0.00 0.00
Regular Principal Distribution Amount 1,127,836.59 1,725,858.40
ALLOCATION OF AVAILABLE DISTRIBUTION AMOUNT Group I Group II
Senior Interest Distributable Amount 441,748.00 369,734.86
Mezannine Interest Distributable Amount 70,513.60 80,232.51
Class B Interest Distributable Amount 23,399.15 24,232.06
Principal from Reg Dist Amt to Senior Class 1,127,836.59 1,725,858.40
Principal from Reg Dist Amt to Mezzanine Class 0.00 0.00
Principal from Reg Dist Amt to Class B 0.00 0.00
Loss Reimb. from Reg Dist Amt to Mezz. and Class B 0.00 0.00
Principal from Excess Spread to Senior Class 0.00 321,134.42
Principal from Excess Spread to Mezzanine Class 0.00 0.00
Principal from Excess Spread to Class B 0.00 0.00
Loss Reimb. from Excess Spread to Mezz. and Class B 0.00 0.00
Servicer pursuant to Section 3.11(ii) 99,917.43 0.00
DELINQUENCY ADVANCE Group I Group II
Interest Remittance Amount 901,238.81 796,204.99
Net Interest Received N/A N/A
Closing Date Deposit 0.00 0.00
Delinquency Advance 188,461.45 121,726.55
OVERCOLLATERALIZATION AMOUNTS Group I Group II
Overcollateralization Target Amount 1,536,751.13 1,950,998.47
OC Amount Prior to Distribution of Excess Spread 1,536,751.13 1,461,701.47
OC Amount After Distribution of Excess Spread 1,536,751.13 1,782,835.89
OC Deficiency Amount Prior to Distribution of Excess Spread 0.00 489,297.00
OC Deficiency Amount After Distribution of Excess Spread 0.00 168,162.58
CLASS A-4 PRIORITY DISTRIBUTION AMOUNT
Class A-4 Priority Percentage 0.00%
Group 1 Senior Principal Distribution Amount 1,127,836.59
Class A-4 Pro Rata General Distribution Amount 109,287.69
Class A-4 Priority General Distribution Amount 0.00
Class A-4 Pro Rata Excess Distribution Amount 0.00
Class A-4 Priority Excess Distribution Amount 0.00
COLLATERAL CHARACTERISTICS Group I Group II
Beginning Loan Balance 97,143,941.74 92,921,490.56
Ending Loan Balance 96,016,105.15 91,195,632.16
Beginning WAC 11.6328% 10.7823%
Ending WAC 11.6247% 10.9455%
Beginning WAM 0.00 0.00
Ending WAM 0.00 0.00
Beginning Loan Count 1,727.00 985.00
Ending Loan Count 1,710.00 967.00
Available Funds Cap 0.11 0.10
Realized Principal Loss 0.00 0.00
Accumulated Realized Principal Loss 0.0000% 0.0000%
Realized Loss as a % of Max. Coll. Amt. 0.00 0.00
Balance of Mixed Use Loans 1,930,263.27 N/A
Maximum Collateral Amount 102,450,075.32 97,549,923.60
Liquidated Mortgage Loan Balance 0.00 0.00
Liquidated Mortgage Loan Count 0.00 0.00
Modified Loan Balance 0.00 0.00
Loan Balance of Largest Group II Loan 0.00 1,788,454.22
DELINQUENCY INFORMATION
Group I Group I Group I Group II Group II Group II
# of Loans Agg Loan Bal Percent # of Loans Agg Loan Bal Percent
30 days 53 2,799,622.17 2.9158% 26 1,890,603.65 2.0731%
60 days 18 1,128,875.43 1.1757% 11 954,984.58 1.0472%
90+ days 32 1,788,083.59 1.8623% 21 2,026,203.09 2.2218%
Foreclosure* 21 986,192.30 1.0271% 16 1,414,692.48 1.5513%
Bankruptcy* 6 631,718.51 0.6579% 4 519,387.01 0.5695%
REO 0 0.00 0.0000% 0 0.00 0.0000%
REO Book Value --- 0.00 0.0000% --- 0.00 0.0000%
* Foreclosure and Bankruptcy loans are included in the appropriate delinquency category.