1
Cityscape Home Loan Owner Trust
Series 1997-4
DISTRIBUTION STATEMENT
Distribution Date: 12/26/97
Issued on September 12, 1997
Pursuant to the Sale and Servicing Agreement dated as of August 31, 1997
FACTORS (Per $1000 Of Original Certificate Balance) Ending
Original Interest Principal Certificate
CUSIP Certificate Distribution Distribution Balance
Class Number Balance Factor Factor Factor
A-1 178780AS1 61,000,000.00 4.81353492 25.82936951 933.40040820
A-2 178780AT9 46,000,000.00 5.64166674 0.00000000 1,000.00000000
A-3 178780AU6 11,000,000.00 5.90833364 0.00000000 1,000.00000000
A-4 178780AV4 13,500,000.00 6.20000000 0.00000000 1,000.00000000
A-5 178780AW2 11,500,000.00 5.84166696 0.00000000 1,000.00000000
M-1 178780AX0 29,500,000.00 6.30000000 0.00000000 1,000.00000000
M-2 178780AY8 13,500,000.00 6.42500000 0.00000000 1,000.00000000
B 178780AZ5 12,000,000.00 6.61666667 0.00000000 1,000.00000000
INTEREST Prior Current Current
Interest Month Current Current Interest
Certificate Carryover Interest Interest Interest Carryover
Class Rate Shortfall Accrual Amount Payment Shortfall
A-1 5.82750% 0.00 293,625.63 293,625.63 293,625.63 0.00
A-2 6.77000% 0.00 259,516.67 259,516.67 259,516.67 0.00
A-3 7.09000% 0.00 64,991.67 64,991.67 64,991.67 0.00
A-4 7.44000% 0.00 83,700.00 83,700.00 83,700.00 0.00
A-5 7.01000% 0.00 67,179.17 67,179.17 67,179.17 0.00
M-1 7.56000% 0.00 185,850.00 185,850.00 185,850.00 0.00
M-2 7.71000% 0.00 86,737.50 86,737.50 86,737.50 0.00
B 7.94000% 0.00 79,400.00 79,400.00 79,400.00 0.00
Total 0.00 1,121,000.64 1,121,000.64 1,121,000.64 0.00
PRINCIPAL
Beginning Principal Principal Ending Loss Reim- Optimal
Certificate Distribution Loss Principal Certificate bursement Principal Principal
Class Balance Amount Allocation Reduction Balance Deficiencies Distribution Balance
A-1 58,513,016.44 1,575,591.54 --- 1,575,591.54 56,937,424.90 --- 1,575,591.54 0.00
A-2 46,000,000.00 0.00 --- 0.00 46,000,000.00 --- 0.00 0.00
A-3 11,000,000.00 0.00 --- 0.00 11,000,000.00 --- 0.00 0.00
A-4 13,500,000.00 0.00 --- 0.00 13,500,000.00 --- 0.00 0.00
A-5 11,500,000.00 0.00 --- 0.00 11,500,000.00 --- 0.00 0.00
M-1 29,500,000.00 0.00 0.00 0.00 29,500,000.00 0.00 0.00 0.00
M-2 13,500,000.00 0.00 0.00 0.00 13,500,000.00 0.00 0.00 0.00
B 12,000,000.00 0.00 0.00 0.00 12,000,000.00 0.00 0.00 0.00
Total 195,513,016.44 1,575,591.54 0.00 1,575,591.54 193,937,424.90 0.00 1,575,591.54 0.00
COLLECTION ACCOUNT
Deposits Interest Principal Total
Gross Interest 2,212,664.71 --- 2,212,664.71
Scheduled Principal --- 208,816.16 208,816.16
Partial Prepayments --- 43,591.09 43,591.09
Paid in Full Principal --- 316,505.09 316,505.09
Net Liquidation Proceeds 0.00 0.00 0.00
Post Liquidation Proceeds 0.00 0.00 0.00
Insurance Proceeds 0.00 0.00 0.00
Released Mortgage Property Proceeds 0.00 0.00 0.00
Purchase Price 0.00 0.00 0.00
Substitution Adjustment 0.00 0.00 0.00
Termination Price 0.00 0.00 0.00
Additional Servicing Compensation 0.00 --- 0.00
Gross Interest Received on Subsequent Transfer Loans 0.00 --- 0.00
Capitalized Interest Requirement 0.00 --- 0.00
Total Deposits 2,212,664.71 568,912.34 2,781,577.05
Withdrawals
Servicing Fee (not including Collection Account earnings) 0.00 0.00 82,911.04
Additional Servicing Compensation (not withheld per 5.01(b)(1)) 0.00 0.00 0.00
Servicing Advance Reimbursement 0.00 0.00 0.00
Nonrecoverable Servicing Advance Reimbursement 0.00 0.00 0.00
Legal or other expenses payable per 9.02 0.00 0.00 0.00
Amount withheld per court order 0.00 0.00 0.00
Total Withdrawals 0.00 0.00 82,911.04
Available Collection Amount 0.00 0.00 2,698,666.01
NOTE DISTRIBUTION ACCOUNT
Available Collection Amount 2,698,666.01
Pre-Funding Earnings 0.00
Transfer of Pre-Funding Account Balance 0.00
Indenture Trustee Fee 1,865.50
Indenture Trustee Fee for Prior Distribution Date 0.00
Owner Trustee Fee (in trust with Servicer) 208.33
Owner Trustee Fee for Prior Distribution Date 0.00
Available Distribution Amount 2,696,592.18
Distribution of Regular Distribution Amount 1,689,912.98
Distribution of Excess Spread 1,006,679.20
Transfer of Residual Interest to Certificate Account 0.00
Total Distributions and Transfers 2,696,592.18
REGULAR DISTRIBUTION AMOUNT
Noteholders' Interest Distributable Amount 1,121,000.64
Regular Principal Distributable Amount 568,912.34
Total 1,689,912.98
Regular Distribution Amount 1,689,912.98
ALLOCATION OF AVAILABLE DISTRIBUTION AMOUNT
Senior Noteholders' Interest Distributable Amount 769,013.14
Mezzanine Noteholders Interest Distributable Amount 272,587.50
Class B Noteholders' Interest Distributable Amount 79,400.00
Principal from Reg Dist Amt to Senior Notes 568,912.34
Principal from Reg Dist Amt to Mezzanine Notes 0.00
Principal from Reg Dist Amt to Certificates 0.00
Loss Reimb. from Reg Dist Amt to Mezz. Notes and Cert. 0.00
Principal from Excess Spread to Senior Notes 1,006,679.20
Principal from Excess Spread to Mezzanine Notes 0.00
Principal from Excess Spread to Certificates 0.00
Loss Reimb. from Excess Spread to Mezz. Notes and Cert. 0.00
Residual Holder 0.00
2,696,592.18
OVERCOLLATERALIZATION ("OC") AMOUNTS
OC Target Amount 15,499,998.56
OC Amount Prior to Distribution of Excess Spread 3,473,470.14
OC Amount After Distribution of Excess Spread 4,480,149.34
OC Deficiency Amount Prior to Distribution of Excess Spread 12,026,528.42
OC Deficiency Amount After Distribution of Excess Spread 11,019,849.22
COLLATERAL CHARACTERISTICS
Beginning Ending
Loan Balance 198,986,486.58 198,417,574.24
Weighted Average Coupon 14.1826% 14.1818%
Weighted Average Maturity n/a n/a
Loan Count 5,050 5,040
Net Loan Losses 0.00
Cumulative Net Loan Losses 0.00
Net Delinquency Calculation Amount Not Yet Applicable
DELINQUENCY INFORMATION
Aggregate
Number Loan
of Loans Balance Percentage Book Value
30 - 59 days 21 699,366.94 0.3525% ---
60 - 89 days 7 361,419.22 0.1822% ---
90+ days 3 118,485.59 0.0597% ---
Foreclosure 0 0.00 0.0000% 0.0000%
Bankruptcy 3 108,732.20 0.0548% ---
Foreclosed Properties 0 0.00 0.0000% 0.0000%
LIQUIDATED AND DEFAULTED LOAN INFORMATION
Number of Balance of
Number of Number of Loans Loans
Loans in Loans in Since Since
Due Period Due Period Closing Closing
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Liquidated Combination Loans 0 0.00 0 0.00
Liquidated Debt Consolidation Loans 0 0.00 0 0.00
Total Liquidated Loans 0 0.00 0 0.00
Defaulted Combination Loans ( "Defective" per Sect. 3.06) 0 0.00 0 0.00
Defaulted Debt Consolidation Loans ( "Defective" per Sect. 3.06) 0 0.00 0 0.00
Total Defaulted Loans ( "Defective" per Sect. 3.06) 0 0.00 0 0.00
Defaulted Combination Loans ( "Defaulted" per Sect. 3.06) 0 0.00 0 0.00
Defaulted Debt Consolidation Loans ( "Defaulted" per Sect. 3.06) 0 0.00 0 0.00
Total Defaulted Loans ( "Defaulted" per Sect. 3.06) 0 0.00 0 0.00