-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, ODLMYJ2Rjs+B/sv1qrTvvsGQsVfnJO+Oq2ujIxiG1diyGGWw3yTx/0QK/fCASyrJ EEByvLzh2ejlekJLHC1hLQ== 0000912057-96-021966.txt : 19961007 0000912057-96-021966.hdr.sgml : 19961007 ACCESSION NUMBER: 0000912057-96-021966 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 1 CONFORMED PERIOD OF REPORT: 19960920 ITEM INFORMATION: Other events ITEM INFORMATION: Financial statements and exhibits FILED AS OF DATE: 19961004 SROS: NONE FILER: COMPANY DATA: COMPANY CONFORMED NAME: AMRESCO RESIDENTIAL SECURITIES CORP MORT LOAN TRUST 1996-4 CENTRAL INDEX KEY: 0001018772 STANDARD INDUSTRIAL CLASSIFICATION: ASSET-BACKED SECURITIES [6189] STATE OF INCORPORATION: NY FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 033-99346-04 FILM NUMBER: 96639311 BUSINESS ADDRESS: STREET 1: C/O BANKERS TRUST CO STREET 2: FOUR ALBANY STREET CITY: NEW YORK STATE: NY ZIP: 10006 MAIL ADDRESS: STREET 1: 1845 WOODALL RODGERS FRWY STREET 2: SUITE 1300 CITY: DALLAS STATE: TX ZIP: 75201 8-K 1 FORM 8-K - ------------------------------------------------------------------------------- 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): September 20, 1996 ------------------- AMRESCO Residential Securities Corporation on behalf of: AMRESCO Residential Securities Corporation Mortgage Loan Trust 1996-4 ----------------------------------------------------------------------- (Exact name of registrant as specified in its charter) New York 333-08687-01 Pending (State or Other Jurisdiction of (Commission File (I.R.S. Employer Incorporation) Number) Identification No.) c/o Bankers Trust Company Four Albany Street New York, New York 10006 (Address of Principal Executive Offices) (Zip Code) Registrant's telephone number, including area code (714) 253-7575 -------------- c/o Bankers Trust Company of California, N.A., 3 Park Plaza, 16th Floor, Irvine, California 92714 ----------------------------------------------------- (Former name or former address, if changed since last report) - ------------------------------------------------------------------------------- Item 5. OTHER EVENTS. Information relating to the distributions to Certificateholders for the period from August 28, 1996 to September 25, 1996 (the "Monthly Period") of the AMRESCO Residential Securities Corporation Mortgage Loan Trust 1996-4 (the "Registrant" or "Trust") in respect of the Mortgage Loan Asset Backed Certificates, Series 1996-4, Class A (the "Certificates") issued by the Registrant and the performance of the Trust (including distributions of principal and interest, delinquent balances of mortgage loans, and the subordinated amount remaining), together with certain other information relating to the Certificates, is contained in the Monthly Report for the Monthly Period provided to Certificateholders pursuant to the Pooling and Servicing Agreement dated as of August 1, 1996, among AMRESCO Residential Securities Corporation in its capacity as Depositor, AMRESCO Residential Mortgage Corporation in its capacity as the Seller, Long Beach Mortgage Company, Option One Mortgage Corporation and Advanta Mortgage Corp. USA as the Servicers, and Bankers Trust Company of California, N.A., a national banking association, in its capacity as the trustee. Item 7. EXHIBIT. Monthly Report for the Monthly Period relating to the Certificates issued by the Trust. 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. By: AMRESCO Residential Securities Corporation By: /s/Ronald B. Kirkland ------------------------- Name: Ronald B. Kirkland Title: Vice President and Chief Accounting Officer Dated: October 4, 1996 AMRESCO RESIDENTIAL SECURITIES CORPORATION MORTGAGE LOAN TRUST SERIES 1996-4 STATEMENT TO CERTIFICATEHOLDERS
- ---------------------------------------------------------------------------------------------------------------------------------- DISTRIBUTIONS IN DOLLARS PRIOR CURRENT ORIGINAL PRINCIPAL REALIZED DEFERRED PRINCIPAL CLASS FACE VALUE BALANCE INTEREST PRINCIPAL TOTAL LOSSES INTEREST BALANCE - ---------------------------------------------------------------------------------------------------------------------------------- A1 9,163,000.00 9,163,000.00 46,044.08 1,166,780.11 1,212,824.19 0.00 0.00 7,996,219.89 A2 22,400,000.00 22,400,000.00 118,906.67 0.00 118,906.67 0.00 0.00 22,400,000.00 A3 17,600,000.00 17,600,000.00 100,466.67 0.00 100,466.67 0.00 0.00 17,600,000.00 A4 10,670,000.00 10,670,000.00 64,464.58 0.00 64,464.58 0.00 0.00 10,670,000.00 A5 13,100,000.00 13,100,000.00 82,966.67 0.00 82,966.67 0.00 0.00 13,100,000.00 A6 238,146,000.00 238,146,000.00 1,057,343.90 2,790,428.00 3,847,771.90 0.00 0.00 235,355,572.00 B-IO 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 R 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 - ---------------------------------------------------------------------------------------------------------------------------------- TOTALS 311,079,000.00 311,079,000.00 1,470,192.57 3,957,208.11 5,427,400.68 0.00 0.00 307,121,791.89 - ----------------------------------------------------------------------------------------------------------------------------------
- ---------------------------------------------------------------------------------------------------------------------------------- FACTOR INFORMATION PER $1000 OF ORIGINAL FACE PASS-THROUGH PRIOR CURRENT RATES PRINCIPAL PRINCIPAL CLASS CUSIP BALANCE INTEREST PRINCIPAL TOTAL BALANCE CURRENT NEXT - ---------------------------------------------------------------------------------------------------------------------------------- A1 03215PAS8 1,000.000000 5.025001 127.336037 132.361038 872.663963 6.030000% 6.030000% A2 03215PAT6 1,000.000000 5.308333 0.000000 5.308333 1,000.000000 6.370000% 6.370000% A3 03215PAU3 1,000.000000 5.708334 0.000000 5.708334 1,000.000000 6.850000% 6.850000% A4 03215PAV1 1,000.000000 6.041666 0.000000 6.041666 1,000.000000 7.250000% 7.250000% A5 03215PAW9 1,000.000000 6.333334 0.000000 6.333334 1,000.000000 7.600000% 7.600000% A6 03215PAX7 1,000.000000 4.439898 11.717299 16.157197 988.282701 5.708440% 5.810000% B-IO 0.000000 0.000000 0.000000 0.000000 0.000000 0.000000% 0.000000% R 0.000000 0.000000 0.000000 0.000000 0.000000 0.000000% 0.000000%
- ---------------------------------------------------------------------------------------------------------------------------------- DEPOSITOR: AMRESCO Residential Securities Corporation ADMINISTRATOR: Timothy Lewis SERVICERS: Advanta Mortgage/Long Beach Mortgage/Option One Mortgage Bankers Trust Company LEAD UNDERWRITER: Prudential Securities Incorporated 3 Park Plaza RECORD DATE: August 28, 1996 Irvine, CA 92714 DISTRIBUTION DATE: September 25, 1996 FACTOR INFORMATION: (800) 735-7777 - ----------------------------------------------------------------------------------------------------------------------------------
-C- COPYRIGHT 1996 Bankers Trust Company Page 1 of 4 AMRESCO RESIDENTIAL SECURITIES CORPORATION MORTGAGE LOAN TRUST SERIES 1996-4 STATEMENT TO CERTIFICATEHOLDERS
- ---------------------------------------------------------------------------------------------------------------------------------- DISTRIBUTION DATE: SEPTEMBER 25, 1996 - ---------------------------------------------------------------------------------------------------------------------------------- GROUP 1 GROUP 2 TOTALS ------- ------- ------ SERVICER ADVANCES: INTEREST 0.00 583,662.68 583,662.68 PRINCIPAL 0.00 25,550.51 25,550.51 ACCRUED SERVICING FEE FOR THE CURRENT PERIOD: 23,283.83 83,201.17 106,485.00 PLUS ADDITIONAL SERVICING COMPENSATION: 0.00 0.00 0.00 ---- ---- ---- TOTAL SERVICING FEES DUE MASTER SERVICER: 23,283.83 83,201.17 106,485.00 LESS: AMOUNTS TO COVER INTEREST SHORTFALLS: 0.00 19.64 19.64 LESS: DELINQUENT SERVICE FEES: 0.00 30,113.77 30,113.77 ---- --------- --------- COLLECTED SERVICING FEES FOR CURRENT PERIOD: 23,283.83 53,067.76 76,351.59 0.074849 0.170593 0.245441
- ---------------------------------------------------------------------------------------------------------------------------------- DELINQUENT AND LOANS LOANS FORECLOSURE LOAN 30 TO 59 60 TO 89 90 PLUS IN IN INFORMATION* DAYS DAYS DAYS BANKRUPTCY FORECLOSURE - ---------------------------------------------------------------------------------------------------------------------------------- GROUP 1 (Fixed Rate) - -------------------- PRINCIPAL BALANCE 186,486.90 542,793.47 0.00 0.00 0.00 NUMBER OF LOANS 3 3 0 0 0 0.29% 0.85% 0.00% 0.00% 0.00% - ---------------------------------------------------------------------------------------------------------------------------------- GROUP 2 (Adjustable Rate) - ------------------------- PRINCIPAL BALANCE 6,351,399.70 1,269,485.81 0.00 0.00 68,714.63 NUMBER OF LOANS 72 15 0 0 1 3.13% 0.63% 0.00% 0.00% 0.03% - ---------------------------------------------------------------------------------------------------------------------------------- TOTAL - ----- PRINCIPAL BALANCE 6,537,886.60 1,812,279.28 0.00 0.00 68,714.63 NUMBER OF LOANS 75 18 0 0 1 2.45% 0.68% 0.00% 0.00% 0.03% - ----------------------------------------------------------------------------------------------------------------------------------
*DELINQUENCIES ARE INCLUSIVE OF FORECLOSURES AND BANKRUPTCIES REALIZED LOSS INFORMATION: ------------------------------------------------------------ GROUP 1 GROUP 2 TOTAL ----------------------------- PRIOR REALIZED LOSSES: 0.00 0.00 0.00 PLUS: CURRENT REALIZED LOSSES 0.00 0.00 0.00 ----------------------------- CUMULATIVE REALIZED LOSSES: 0.00 0.00 0.00 ----------------------------- ----------------------------- ------------------------------------------------------------ -C- COPYRIGHT 1996 Bankers Trust Company Page 2 of 4 AMRESCO RESIDENTIAL SECURITIES CORPORATION MORTGAGE LOAN TRUST SERIES 1996-4 STATEMENT TO CERTIFICATEHOLDERS
- ---------------------------------------------------------------------------------------------------------------------------------- DISTRIBUTION DATE: SEPTEMBER 25, 1996 - ---------------------------------------------------------------------------------------------------------------------------------- GROUP 1 GROUP 2 TOTALS ------- ------- ------ BEGINNING NUMBER OF LOANS: 828 1966 2794 ENDING NUMBER OF LOANS: 815 1953 2768 BEGINNING PRINCIPAL BALANCE OF POOL: 64,933,544.06 205,146,824.73 270,080,368.79 ENDING PRINCIPAL BALANCE OF POOL: 63,906,642.70 202,907,562.61 266,814,205.31 GROUP FACTOR: 87.623114% 85.202716% 85.770184% LARGEST LOAN BALANCE 311,737.20 613,583.76 925,320.96 WEIGHTED AVERAGE TERM TO MATURITY: 321.92 349.16 670.922 CURRENT WEIGHTED AVERAGE MORTGAGE RATE: 10.646187% 9.896861% 10.077016% NEXT WEIGHTED AVERAGE MORTGAGE RATE: 10.647172% 9.899331% 10.078452% PRINCIPAL PREPAYMENTS: NUMBER OF LOANS (IF PAID IN FULL): 13 13 26 PRINCIPAL BALANCE: 989,426.44 2,139,401.34 3,128,827.78 AMOUNT PER $1000 CERTIFICATE: 107.980622 95.508988 10.057985 PREPAYMENT INTEREST SHORTFALL AMOUNT INCLUDED IN DISTRIBUTION: 0.00 19.64 19.64 NONCOVERED PREPAYMENT INTEREST SHORTFALL FOR THIS DISTRIBUTION: 0.00 0.00 0.00 REO PROPERTY INFORMATION: BOOK VALUE OF REAL ESTATE ACQUIRED THROUGH FORECLOSURE: 0.00 0.00 0.00 AGGREGATE PRINCIPAL BALANCE OF REO LOANS: 0.00 0.00 0.00 NUMBER OF REO LOANS: 0 0 0 AVAILABLE FUNDS: 1,579,696.42 3,847,985.59 5,427,682.01 INSURED PAYMENT: 0.00 0.00 0.00 CLASS A PRINCIPAL DISTRIBUTION BREAKDOWN: SCHEDULED PRINCIPAL: 37,474.92 99,860.78 137,335.70 PRINCIPAL PREPAYMENTS: 986,772.09 2,129,300.12 3,116,072.21 CURTAILMENTS: 2,654.35 10,101.22 12,755.57 SUBORDINATION INCREASE AMOUNT: 139,878.75 551,165.88 691,044.63 PRE-FUNDED AMOUNTS DISTRIBUTED AS PREPAYMENTS: 0.00 0.00 0.00 ------------------------------------------------------- 1,166,780.11 2,790,428.00 3,957,208.11 REMAINING PRE-FUNDING AMOUNT: 8,000,000.00 33,000,000.00 41,000,000.00
-C- COPYRIGHT 1996 Bankers Trust Company Page 3 of 4 AMRESCO RESIDENTIAL SECURITIES CORPORATION MORTGAGE LOAN TRUST SERIES 1996-4 TRUSTEE DISTRIBUTION DATE STATEMENT
- ---------------------------------------------------------------------------------------------------------------------------------- DISTRIBUTION DATE: SEPTEMBER 25, 1996 - ---------------------------------------------------------------------------------------------------------------------------------- GROUP 1 GROUP 2 TOTALS ------- ------- ------ SUBORDINATION AMOUNTS: SUBORDINATED AMOUNT after all payments and transfers: 140,422.81 551,990.61 692,413.42 REQUIRED SUBORDINATION AMOUNT: 1,166,505.15 8,097,909.09 9,264,414.24 EXCESS SUBORDINATION AMOUNT: 0.00 0.00 0.00 SUBORDINATION DEFICIT: 0.00 0.00 0.00 UNREIMBURSED MONTHLY ADVANCES: 0.00 0.00 0.00 CUMULATIVE LOSS PERCENTAGE: 0.000000% 0.000000% 0.000000% 90+ DELINQUENCY PERCENTAGE: 0.000000% 0.000000% 0.000000% INSURER PREMIUM AMOUNT: 0.00 0.00 0.00 TRUSTEE FEE AMOUNT: 67.64 213.69 281.33 GROUP II AVAILABLE FUNDS CAP CARRY-FORWARD AMOUNT: 0.00 ONE-MONTH LIBOR ON THE MOST RECENT ONE-MONTH LIBOR DETERMINATION DATE: N/A (N/A FOR FIRST PAYMENT)
- -------------------------------------------------------------------------------- CARRY FORWARD AMOUNTS - -------------------------------------------------------------------------------- CURRENT AMOUNTS CUMULATIVE AMOUNTS AMOUNTS REIMBURSED THIS PERIOD - -------------------------------------------------------------------------------- CLASS A1 0.00 0.00 0.00 CLASS A2 0.00 0.00 0.00 CLASS A3 0.00 0.00 0.00 CLASS A4 0.00 0.00 0.00 CLASS A5 0.00 0.00 0.00 CLASS A6 0.00 0.00 0.00 - -------------------------------------------------------------------------------- - - -C- COPYRIGHT 1996 Bankers Trust Company Page 4 of 4 -----END PRIVACY-ENHANCED MESSAGE-----