-----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, A1cZo1xRxHzYzYidJA1hQ5BZhqauWyKD/RhzKUO/8fCSkNHrtkieJ/slgO7FT95Y FPDWeQ+MX2mwZHRmEOQb3A== 0001043256-97-000005.txt : 19971010 0001043256-97-000005.hdr.sgml : 19971010 ACCESSION NUMBER: 0001043256-97-000005 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 3 CONFORMED PERIOD OF REPORT: 19970925 ITEM INFORMATION: ITEM INFORMATION: FILED AS OF DATE: 19971009 SROS: NONE FILER: COMPANY DATA: COMPANY CONFORMED NAME: BLOCK MORTGAGE FINANCE ASSET BACKED CERTIFICATES SER 1997-2 CENTRAL INDEX KEY: 0001043256 STANDARD INDUSTRIAL CLASSIFICATION: ASSET-BACKED SECURITIES [6189] STATE OF INCORPORATION: DE FISCAL YEAR END: 0531 FILING VALUES: FORM TYPE: 8-K SEC ACT: SEC FILE NUMBER: 333-14041-02 FILM NUMBER: 97693141 BUSINESS ADDRESS: STREET 1: C/O BANKERS TRUST CO OF CALIFORNIA NA STREET 2: 3 PARK PLZ 16TH FL CITY: IRVINE STATE: CA ZIP: 92614 BUSINESS PHONE: 7142537575 MAIL ADDRESS: STREET 1: C/O BANKERS TRUST OF CALIFORNIA NA STREET 2: 3 PARK PLZ 16TH FL CITY: IRVINE STATE: CA ZIP: 92614 8-K 1 FORM 8-K SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 ------------------- FROM 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 25, 1997 TRUST CREATED BY BLOCK MORTGAGE FINANCE, INC. (under a Pooling and Servicing Agreement dated as of July 1, 1997, which Trust is the Issuer of Block Mortgage Finance Asset Backed Certificates, Series 1997-2) - ------------------------------------------------------------------------ (Exact name of registrant as specified in its charter) New York - ------------------------------------------------------------------------ (State or other jurisdiction of incorporation) 333-14041 Applied for - ------------------------------------------------------------------------ (Commission File Number) (IRS Employer Identification No.) 3 Park Plaza, Irvine, California Attention: Block Mortgage Finance Asset Backed Certificates, Series 1997-2 92614 - ------------------------------------------------------------------------ (Address of principal executive offices) (Zip Code) Registrant's telephone number, including area code: 714-253-7575 Not applicable - ------------------------------------------------------------------------ (Former name or former address, if changed since last report) ITEM 5. OTHER EVENTS Attached hereto is a copy of the Statement to Certificateholders with respect to the August (revised) and September (revised),1997, distribution to Certificateholders, as provided to the Certificateholders by the Trustee. ITEM 7. FINANCIAL STATEMENTS, PRO FORMA FINANCIAL INFORMATION AND EXHIBITS Exhibit 99.1 Statement to Certificateholders Relating to August (revised), 1997, Distributions to Holders of Block Mortgage Finance Asset Backed Certificates, Series 1997-2 Exhibit 99.2 Statement to Certificateholders Relating to September (revised), 1997, Distributions to Holders of Block Mortgage Finance Asset Backed Certificates, Series 1997-2 [THE REMAINDER OF THIS PAGE INTENTIONALLY LEFT BLANK] SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. BLOCK MORTGAGE FINANCE, INC. By: /s/ Bret G. Wilson ------------------- Name:Bret G. Wilson Title: President Date: October 9, 1997 EXHIBIT INDEX Exhibit No. Description 99.1 Statement to Certificateholders Relating to August (revised), 1997 Distributions to Holders of Block Mortgage Finance Asset Backed Certificates, Series 1997-2 Exhibit No. Description 99.2 Statement to Certificateholders Relating to September (revised), 1997, Distributions to Holders of Block Mortgage Finance Asset Backed Certificates, Series 1997-2 EX-99.1 2 STATEMENT TO CERTIFICATE HOLDERS - 8/25/97 REVISED
Block Mortgage Finance, Inc. Asset Backed Certificates Series 1997-2 Statement To Certificateholders - ----------------------------------------------------------------------------------------------------------------------------------- DISTRIBUTIONS IN DOLLARS PRIOR CURRENT ORIGINAL PRINCIPAL REALIZED DEFERRED PRINCIPAL CLASS FACE VALUE BALANCE INTEREST PRINCIPAL TOTAL LOSSES INTEREST BALANCE - ----------------------------------------------------------------------------------------------------------------------------- A-1 45,336,000.00 45,336,000.00 245,947.80 1,116,449.32 1,362,397.12 0.00 0.00 44,219,550.68 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-6 104,922,000.00 104,922,000.00 443,638.72 648,525.32 1,092,164.04 0.00 0.00 104,273,474.68 R 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 - ----------------------------------------------------------------------------------------------------------------------------------- TOTALS 215,000,000.00 215,000,000.00 1,056,870.71 1,764,974.64 2,821,845.35 0.00 0.00 213,235,025.36 - ----------------------------------------------------------------------------------------------------------------------------------- - -----------------------------------------------------------------------------------------------------------------------------------
FACTOR INFORMATION PER $1000 OF ORIGINAL FACE PASS-THROUGH PRIOR CURRENT RATES PRINCIPAL PRINCIPAL CLASS CUSIP BALANCE INTEREST PRINCIPAL TOTAL BALANCE CURRENT NEXT - ----------------------------------------------------------------------------------------------------------------------------------- A-1 09367MAE9 1,000.000000 5.425000 24.626110 30.051110 975.373890 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 1,000.000000 4.228272 6.181023 10.409295 993.818977 5.854530% 5.835000% R BL9702101 0.000000 0.000000 0.000000 0.000000 0.000000 0.000000% 0.000000% - ----------------------------------------------------------------------------------------------------------------------------------- SELLER: Block Financial Corporation ADMINISTRATOR: Vince Valdes SERVICER: Block Financial Corporation Bankers Trust Company LEAD UNDERWRITER: Morgan Stanley & Co. 3 Park Plaza RECORD DATE: July 31, 1997 Irvine, CA 92714 DISTRIBUTION DATE: August 25, 1997 FACTOR (800) 735-7777 INFORMATION: - ----------------------------------------------------------------------------------------------------------------------------------- Page 1 of 5 (C) COPYRIGHT 1997 Bankers Trust Company
Block Mortgage Finance, Inc. Asset Backed Certificates Series 1997-2 Statement To Certificateholders - ----------------------------------------------------------------------------------------------------------------------------------- Distribution Date: 08/25/97 - ----------------------------------------------------------------------------------------------------------------------------------- - ----------------------------------------------------------------------------------------------------------------------------------- - ----------------------------------------------------------------------------------------------------------------------------------- DELINQUENT LOAN INFORMATION: 1 - 30 31 - 60 60 - 90 91+ (Statistics Do Not Include Foreclosures, Bankruptcies & DAYS DAYS DAYS DAYS TOTAL REOs) - ----------------------------------------------------------------------------------------------------------------------------------- - --------------- GROUP I - --------------- - ----------------------------------------------------------------------------------------------------------------------------------- PRINCIPAL BALANCE 18,233,624.77 1,008,575.46 361,117.76 0.00 19,603,317.99 PERCENTAGE OF POOL BALANCE 16.6752% 0.9224% 0.3303% 0.0000% 17.9279% - ----------------------------------------------------------------------------------------------------------------------------------- - ----------------------------------------------------------------------------------------------------------------------------------- NUMBER OF LOANS 422 26 8 0 456 PERCENTAGE OF LOANS IN POOL 18.0805% 1.1140% 0.3428% 0.0000% 19.5373% - ----------------------------------------------------------------------------------------------------------------------------------- - --------------- GROUP II - --------------- - ----------------------------------------------------------------------------------------------------------------------------------- PRINCIPAL BALANCE 1,318,669.96 0.00 0.00 0.00 1,318,669.96 PERCENTAGE OF POOL BALANCE 1.2597% 0.0000% 0.0000% 0.0000% 1.2597% - ----------------------------------------------------------------------------------------------------------------------------------- - ----------------------------------------------------------------------------------------------------------------------------------- NUMBER OF LOANS 15 0 0 0 15 PERCENTAGE OF LOANS IN POOL 1.4808% 0.0000% 0.0000% 0.0000% 1.4808% - ----------------------------------------------------------------------------------------------------------------------------------- - ----------------------------------------------------------------------------------------------------------------------------------- FORECLOSURE LOAN INFORMATION: - ----------------------------------------------------------------------------------------------------------------------------------- - --------------- GROUP I - --------------- - ----------------------------------------------------------------------------------------------------------------------------------- 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% - ----------------------------------------------------------------------------------------------------------------------------------- - ----------------------------------------------------------------------------------------------------------------------------------- NUMBER OF LOANS 0 0 0 0 0 PERCENTAGE OF LOANS IN POOL 0.0000% 0.0000% 0.0000% 0.0000% 0.0000% - ----------------------------------------------------------------------------------------------------------------------------------- - --------------- GROUP II - --------------- - ----------------------------------------------------------------------------------------------------------------------------------- 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% - ----------------------------------------------------------------------------------------------------------------------------------- - ----------------------------------------------------------------------------------------------------------------------------------- NUMBER OF LOANS 0 0 0 0 0 PERCENTAGE OF LOANS IN POOL 0.0000% 0.0000% 0.0000% 0.0000% 0.0000% - ----------------------------------------------------------------------------------------------------------------------------------- - ----------------------------------------------------------------------------------------------------------------------------------- BANKRUPTCY LOAN INFORMATION: - ----------------------------------------------------------------------------------------------------------------------------------- - --------------- GROUP I - --------------- - ----------------------------------------------------------------------------------------------------------------------------------- PRINCIPAL BALANCE 113,310.96 0.00 0.00 0.00 113,310.96 PERCENTAGE OF POOL BALANCE 0.1036% 0.0000% 0.0000% 0.0000% 0.1036% - ----------------------------------------------------------------------------------------------------------------------------------- - ----------------------------------------------------------------------------------------------------------------------------------- NUMBER OF LOANS 1 0 0 0 1 PERCENTAGE OF LOANS IN POOL 0.0428% 0.0000% 0.0000% 0.0000% 0.0428% - ----------------------------------------------------------------------------------------------------------------------------------- - --------------- GROUP II - --------------- - ----------------------------------------------------------------------------------------------------------------------------------- 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% - ----------------------------------------------------------------------------------------------------------------------------------- - ----------------------------------------------------------------------------------------------------------------------------------- NUMBER OF LOANS 0 0 0 0 0 PERCENTAGE OF LOANS IN POOL 0.0000% 0.0000% 0.0000% 0.0000% 0.0000% - ----------------------------------------------------------------------------------------------------------------------------------- - ----------------------------------------------------------------------------------------------------------------------------------- REO LOAN INFORMATION: - ----------------------------------------------------------------------------------------------------------------------------------- - --------------- GROUP I - --------------- - ----------------------------------------------------------------------------------------------------------------------------------- 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% - ----------------------------------------------------------------------------------------------------------------------------------- - ----------------------------------------------------------------------------------------------------------------------------------- NUMBER OF LOANS 0 0 0 0 0 PERCENTAGE OF LOANS IN POOL 0.0000% 0.0000% 0.0000% 0.0000% 0.0000% - ----------------------------------------------------------------------------------------------------------------------------------- - --------------- GROUP II - --------------- - ----------------------------------------------------------------------------------------------------------------------------------- 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% - ----------------------------------------------------------------------------------------------------------------------------------- - ----------------------------------------------------------------------------------------------------------------------------------- NUMBER OF LOANS 0 0 0 0 0 PERCENTAGE OF LOANS IN POOL 0.0000% 0.0000% 0.0000% 0.0000% 0.0000% - ----------------------------------------------------------------------------------------------------------------------------------- - ----------------------------------------------------------------------------------------------------------------------------------- Page 2 of 5 (C) COPYRIGHT 1997 Bankers Trust Company
Block Mortgage Finance, Inc. Asset Backed Certificates Series 1997-2 Statement To Certificateholders - ----------------------------------------------------------------------------------------------------------------------------------- Distribution Date: 08/25/97 - ----------------------------------------------------------------------------------------------------------------------------------- - ----------------------------------------------------------------------------------------------------------------------------------- SERVICER ADVANCES INCLUDED IN THIS DISTRIBUTION: 856,512.85 SERVICER ADVANCES OUTSTANDING: 0.00 ACCRUED SERVCING FEE THE THE CURRENT PERIOD : 87,668.76 PLUS ANY ADDITIONAL SERVICING FEES : 0.00 ----------------- 87,668.76 LESS PERMITTED REDUCTIONS TO SERVICING FEES : 0.00 ----------------- TOTAL SERVICING FEES DUE MASTER SERVICER : 87,668.76 ACCRUED SERVICING FEES COLLECTED FOR CURRENT PERIOD : 45,272.32 COMPENSATING INTEREST: 0.00 ----------------- TOTAL SERVICING FEES COLLECTED MASTER SERVICER: 45,272.32 - ----------------------------------------------------------------------------------------------------------------------------------- GROUP I MONTHLY ADVANCE AMOUNT: 296,563.24 GROUP II MONTHLY ADVANCE AMOUNT: 559,949.61 TOTAL TRUSTEE FEES DUE : 2,687.50 TOTAL INSURANCE AMOUNT DUE : 0.00 PRINCIPAL REMITTANCE AMOUNTS: SCHEDULED PRINCIPAL 703,001.27 CURTAILMENTS (842,023.85) PREPAYMENTS IN FULL 1,112,124.94 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 ----------------- TOTAL PRINCIPAL DISTRIBUTED: 973,102.36 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 - ----------------------------------------------------------------------------------------------------------------------------------- Page 3 of 5 (C) COPYRIGHT 1997 Bankers Trust Company
Block Mortgage Finance, Inc. Asset Backed Certificates Series 1997-2 Statement To Certificateholders - ----------------------------------------------------------------------------------------------------------------------------------- Distribution Date: 08/25/97 - ----------------------------------------------------------------------------------------------------------------------------------- - ----------------------------------------------------------------------------------------------------------------------------------- TOTAL NUMBER OF MORTGAGE LOANS INCLUDED IN THE POOL AS OF THE PRIOR DISTRIBUTION PERIOD: 3,369 TOTAL NUMBER OF MORTGAGE LOANS INCLUDED IN THE POOL AS OF THE CURRENT DISTRIBUTION PERIOD: 3,347 AGGREGATE PRINCIPAL BALANCE OF LOANS IN THE POOL AS OF THE PRIOR DISTRIBUTION PERIOD: 215,000,031.77 AGGREGATE PRINCIPAL BALANCE OF LOANS IN THE POOL AS OF THE CURRENT DISTRIBUTION PERIOD: 214,026,929.41 TOTAL NUMBER OF MORTGAGE LOANS INCLUDED IN GROUP I AS OF THE PRIOR DISTRIBUTION PERIOD: 2,353 TOTAL NUMBER OF MORTGAGE LOANS INCLUDED IN GROUP I AS OF THE CURRENT DISTRIBUTION PERIOD: 2,334 TOTAL PRINCIPAL BALANCE OF LOANS INCLUDED IN GROUP I AS OF THE PRIOR DISTRIBUTION PERIOD: 110,078,870.91 TOTAL PRINCIPAL BALANCE OF LOANS INCLUDED IN GROUP I AS OF THE CURRENT DISTRIBUTION PERIOD: 109,345,601.20 TOTAL NUMBER OF MORTGAGE LOANS INCLUDED IN GROUP II AS OF THE PRIOR DISTRIBUTION PERIOD: 1,016 TOTAL NUMBER OF MORTGAGE LOANS INCLUDED IN GROUP II AS OF THE CURRENT DISTRIBUTION PERIOD: 1,013 TOTAL PRINCIPAL BALANCE OF LOANS INCLUDED IN GROUP II AS OF THE PRIOR DISTRIBUTION PERIOD: 104,921,160.86 TOTAL PRINCIPAL BALANCE OF LOANS INCLUDED IN GROUP II AS OF THE CURRENT DISTRIBUTION PERIOD: 104,681,328.21 GROUP I SUBORDINATION INCREASE AMOUNT: 383,179.61 GROUP II SUBORDINATION INCREASE AMOUNT: 408,692.67 GROUP I SUBORDINATION DEFICIT AMOUNT: 0.00 GROUP II SUBORDINATION DEFICIT AMOUNT: 839.14 GROUP I PRINCIPAL REMITTANCE AMOUNT: 1,116,449.32 GROUP II PRINCIPAL REMITTANCE AMOUNT: 649,364.46 GROUP I WEIGHTED AVERAGE COUPON AS OF THE CURRENT DISTRIBUTION DATE: 11.3646% GROUP II WEIGHTED AVERAGE COUPON AS OF THE CURRENT DISTRIBUTION DATE: 10.2545% 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 472,101.57 GROUP II LARGEST LOAN BALANCE 498,816.17 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 - ----------------------------------------------------------------------------------------------------------------------------------- Page 4 of 5 (C) COPYRIGHT 1997 Bankers Trust Company
Block Mortgage Finance, Inc. Asset Backed Certificates Series 1997-2 Statement To Certificateholders - ----------------------------------------------------------------------------------------------------------------------------------- Distribution Date: 08/25/97 - ----------------------------------------------------------------------------------------------------------------------------------- - ----------------------------------------------------------------------------------------------------------------------------------- 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 - ----------------------------------------------------------------------------------------------------------------------------------- Page 5 of 5 (C) COPYRIGHT 1997 Bankers Trust Company
EX-99.2 3 STATEMENT TO CERTIFICATEHOLDERS - 9/25/97 REVISED
Block Mortgage Finance, Inc. Asset Backed Certificates Series 1997-2 Statement To Certificateholders - ----------------------------------------------------------------------------------------------------------------------------------- DISTRIBUTIONS IN DOLLARS PRIOR CURRENT ORIGINAL PRINCIPAL REALIZED DEFERRED PRINCIPAL CLASS FACE VALUE BALANCE INTEREST PRINCIPAL TOTAL LOSSES INTEREST BALANCE - ----------------------------------------------------------------------------------------------------------------------------------- A-1 45,336,000.00 44,219,550.68 239,891.06 1,147,219.51 1,387,110.57 0.00 0.00 43,072,331.17 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-6 104,922,000.00 104,273,474.68 523,930.76 1,109,922.26 1,633,853.02 0.00 0.00 103,163,552.42 R 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 - ----------------------------------------------------------------------------------------------------------------------------------- TOTALS 215,000,000.00 213,235,025.36 1,131,106.01 2,257,141.77 3,388,247.78 0.00 0.00 210,977,883.59 - ----------------------------------------------------------------------------------------------------------------------------------- - ----------------------------------------------------------------------------------------------------------------------------------- FACTOR INFORMATION PER $1000 OF ORIGINAL FACE PASS-THROUGH PRIOR CURRENT RATES PRINCIPAL PRINCIPAL CLASS CUSIP BALANCE INTEREST PRINCIPAL TOTAL BALANCE CURRENT NEXT - ----------------------------------------------------------------------------------------------------------------------------------- A-1 09367MAE9 975.373890 5.291403 25.304824 30.596228 950.069066 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 993.818977 4.993526 10.578547 15.572073 983.240430 5.835000% 5.866250% R BL9702101 0.000000 0.000000 0.000000 0.000000 0.000000 0.000000% 0.000000% - ----------------------------------------------------------------------------------------------------------------------------------- SELLER: Block Financial Corporation ADMINISTRATOR: Vince Valdes SERVICER: Block Financial Corporation Bankers Trust Company LEAD UNDERWRITER: Morgan Stanley & Co. 3 Park Plaza RECORD DATE: August 29, 1997 Irvine, CA 92714 DISTRIBUTION DATE: September 25, 1997 FACTOR INFORMATION: (800) 735-7777 - ----------------------------------------------------------------------------------------------------------------------------------- Page 1 of 5 (C) COPYRIGHT 1997 Bankers Trust Company
Block Mortgage Finance, Inc. Asset Backed Certificates Series 1997-2 Statement To Certificateholders - ----------------------------------------------------------------------------------------------------------------------------------- Distribution Date: 09/25/97 - ----------------------------------------------------------------------------------------------------------------------------------- - ----------------------------------------------------------------------------------------------------------------------------------- - ----------------------------------------------------------------------------------------------------------------------------------- DELINQUENT LOAN INFORMATION: 1 - 30 31 - 60 60 - 90 91+ (Statistics Do Not Include Foreclosures, DAYS DAYS DAYS DAYS TOTAL Bankruptcies & REOs) - ----------------------------------------------------------------------------------------------------------------------------------- - -------------- GROUP I - -------------- - ----------------------------------------------------------------------------------------------------------------------------------- PRINCIPAL BALANCE 19,797,149.39 2,007,217.46 1,190,614.93 172,925.99 23,167,907.77 PERCENTAGE OF POOL BALANCE 18.2328% 1.8486% 1.0965% 0.1593% 21.3372% - ----------------------------------------------------------------------------------------------------------------------------------- - ----------------------------------------------------------------------------------------------------------------------------------- NUMBER OF LOANS 444 33 21 3 501 PERCENTAGE OF LOANS IN POOL 19.1627% 1.4243% 0.9063% 0.1295% 21.6228% - ----------------------------------------------------------------------------------------------------------------------------------- - -------------- GROUP II - -------------- - ----------------------------------------------------------------------------------------------------------------------------------- PRINCIPAL BALANCE 2,228,103.73 139,500.00 0.00 0.00 2,367,603.73 PERCENTAGE OF POOL BALANCE 2.1445% 0.1343% 0.0000% 0.0000% 2.2788% - ----------------------------------------------------------------------------------------------------------------------------------- - ----------------------------------------------------------------------------------------------------------------------------------- NUMBER OF LOANS 22 1 0 0 23 PERCENTAGE OF LOANS IN POOL 2.1869% 0.0994% 0.0000% 0.0000% 2.2863% - ----------------------------------------------------------------------------------------------------------------------------------- - ----------------------------------------------------------------------------------------------------------------------------------- FORECLOSURE LOAN INFORMATION: - ----------------------------------------------------------------------------------------------------------------------------------- - -------------- GROUP I - -------------- - ----------------------------------------------------------------------------------------------------------------------------------- PRINCIPAL BALANCE 108,937.85 0.00 0.00 0.00 108,937.85 PERCENTAGE OF POOL BALANCE 0.1003% 0.0000% 0.0000% 0.0000% 0.1003% - ----------------------------------------------------------------------------------------------------------------------------------- - ----------------------------------------------------------------------------------------------------------------------------------- NUMBER OF LOANS 2 0 0 0 2 PERCENTAGE OF LOANS IN POOL 0.0863% 0.0000% 0.0000% 0.0000% 0.0863% - ----------------------------------------------------------------------------------------------------------------------------------- - -------------- GROUP II - -------------- - ----------------------------------------------------------------------------------------------------------------------------------- PRINCIPAL BALANCE 114,712.30 0.00 0.00 0.00 114,712.30 PERCENTAGE OF POOL BALANCE 0.1104% 0.0000% 0.0000% 0.0000% 0.1104% - ----------------------------------------------------------------------------------------------------------------------------------- - ----------------------------------------------------------------------------------------------------------------------------------- NUMBER OF LOANS 1 0 0 0 1 PERCENTAGE OF LOANS IN POOL 0.0994% 0.0000% 0.0000% 0.0000% 0.0994% - ----------------------------------------------------------------------------------------------------------------------------------- - ----------------------------------------------------------------------------------------------------------------------------------- BANKRUPTCY LOAN INFORMATION: - ----------------------------------------------------------------------------------------------------------------------------------- - -------------- GROUP I - -------------- - ----------------------------------------------------------------------------------------------------------------------------------- PRINCIPAL BALANCE 252,396.99 0.00 0.00 0.00 252,396.99 PERCENTAGE OF POOL BALANCE 0.2325% 0.0000% 0.0000% 0.0000% 0.2325% - ----------------------------------------------------------------------------------------------------------------------------------- - ----------------------------------------------------------------------------------------------------------------------------------- NUMBER OF LOANS 3 0 0 0 3 PERCENTAGE OF LOANS IN POOL 0.1295% 0.0000% 0.0000% 0.0000% 0.1295% - ----------------------------------------------------------------------------------------------------------------------------------- - -------------- GROUP II - -------------- - ----------------------------------------------------------------------------------------------------------------------------------- PRINCIPAL BALANCE 166,433.89 0.00 0.00 0.00 166,433.89 PERCENTAGE OF POOL BALANCE 0.1602% 0.0000% 0.0000% 0.0000% 0.1602% - ----------------------------------------------------------------------------------------------------------------------------------- - ----------------------------------------------------------------------------------------------------------------------------------- NUMBER OF LOANS 2 0 0 0 2 PERCENTAGE OF LOANS IN 0.1988% 0.0000% 0.0000% 0.0000% 0.1988% POOL - ----------------------------------------------------------------------------------------------------------------------------------- - ----------------------------------------------------------------------------------------------------------------------------------- REO LOAN INFORMATION: - ----------------------------------------------------------------------------------------------------------------------------------- - -------------- GROUP I - -------------- - ----------------------------------------------------------------------------------------------------------------------------------- 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% - ----------------------------------------------------------------------------------------------------------------------------------- - ----------------------------------------------------------------------------------------------------------------------------------- NUMBER OF LOANS 0 0 0 0 0 PERCENTAGE OF LOANS IN 0.0000% 0.0000% 0.0000% 0.0000% 0.0000% POOL - ----------------------------------------------------------------------------------------------------------------------------------- - -------------- GROUP II - -------------- - ----------------------------------------------------------------------------------------------------------------------------------- PRINCIPAL 0.00 0.00 0.00 0.00 0.00 BALANCE PERCENTAGE OF POOL BALANCE 0.0000% 0.0000% 0.0000% 0.0000% 0.0000% - ----------------------------------------------------------------------------------------------------------------------------------- - ----------------------------------------------------------------------------------------------------------------------------------- NUMBER OF LOANS 0 0 0 0 0 PERCENTAGE OF LOANS IN POOL 0.0000% 0.0000% 0.0000% 0.0000% 0.0000% - ----------------------------------------------------------------------------------------------------------------------------------- - ----------------------------------------------------------------------------------------------------------------------------------- Page 2 of 5 (C) COPYRIGHT 1997 Bankers Trust Company
Block Mortgage Finance, Inc. Asset Backed Certificates Series 1997-2 Statement To Certificateholders - ----------------------------------------------------------------------------------------------------------------------------------- Distribution Date: 09/25/97 - ----------------------------------------------------------------------------------------------------------------------------------- - ----------------------------------------------------------------------------------------------------------------------------------- SERVICER ADVANCES INCLUDED IN THIS DISTRIBUTION: 237,655.83 SERVICER ADVANCES OUTSTANDING: 0.00 ACCRUED SERVICING FEE THE THE CURRENT PERIOD : 89,177.89 PLUS ANY ADDITIONAL SERVICING FEES : 0.00 --------------- 89,177.89 LESS PERMITTED REDUCTIONS TO SERVICING FEES : 0.00 --------------- TOTAL SERVICING FEES DUE MASTER SERVICER : 89,177.89 ACCRUED SERVICING FEES COLLECTED FOR CURRENT PERIOD : 78,511.47 COMPENSATING INTEREST: 0.00 --------------- TOTAL SERVICING FEES COLLECTED MASTER SERVICER: 78,511.47 - ----------------------------------------------------------------------------------------------------------------------------------- GROUP I MONTHLY ADVANCE AMOUNT: 218,089.57 GROUP II MONTHLY ADVANCE AMOUNT: 19,566.26 TOTAL TRUSTEE FEES DUE : 2,675.34 TOTAL INSURANCE AMOUNT DUE: 0.00 PRINCIPAL REMITTANCE AMOUNTS: SCHEDULED PRINCIPAL 133,851.55 CURTAILMENTS 16,497.87 PREPAYMENTS IN FULL 1,400,128.56 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 --------------- TOTAL PRINCIPAL DISTRIBUTED: 1,550,477.98 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 - ----------------------------------------------------------------------------------------------------------------------------------- Page 3 of 5 (C) COPYRIGHT 1997 Bankers Trust Company
Block Mortgage Finance, Inc. Asset Backed Certificates Series 1997-2 Statement To Certificateholders - ----------------------------------------------------------------------------------------------------------------------------------- Distribution Date: 09/25/97 - ----------------------------------------------------------------------------------------------------------------------------------- - ----------------------------------------------------------------------------------------------------------------------------------- TOTAL NUMBER OF MORTGAGE LOANS INCLUDED IN THE POOL AS OF THE PRIOR DISTRIBUTION PERIOD: 3,347 TOTAL NUMBER OF MORTGAGE LOANS INCLUDED IN THE POOL AS OF THE CURRENT DISTRIBUTION PERIOD: 3,323 AGGREGATE PRINCIPAL BALANCE OF LOANS IN THE POOL AS OF THE PRIOR DISTRIBUTION PERIOD: 214,026,929.41 AGGREGATE PRINCIPAL BALANCE OF LOANS IN THE POOL AS OF THE CURRENT DISTRIBUTION PERIOD: 212,476,451.43 TOTAL NUMBER OF MORTGAGE LOANS INCLUDED IN GROUP I AS OF THE PRIOR DISTRIBUTION PERIOD: 2,334 TOTAL NUMBER OF MORTGAGE LOANS INCLUDED IN GROUP I AS OF THE CURRENT DISTRIBUTION PERIOD: 2,317 TOTAL PRINCIPAL BALANCE OF LOANS INCLUDED IN GROUP I AS OF THE PRIOR DISTRIBUTION PERIOD: 109,345,601.20 TOTAL PRINCIPAL BALANCE OF LOANS INCLUDED IN GROUP I AS OF THE CURRENT DISTRIBUTION PERIOD: 108,579,688.27 TOTAL NUMBER OF MORTGAGE LOANS INCLUDED IN GROUP II AS OF THE PRIOR DISTRIBUTION PERIOD: 1,013 TOTAL NUMBER OF MORTGAGE LOANS INCLUDED IN GROUP II AS OF THE CURRENT DISTRIBUTION PERIOD: 1,006 TOTAL PRINCIPAL BALANCE OF LOANS INCLUDED IN GROUP II AS OF THE PRIOR DISTRIBUTION PERIOD: 104,681,328.21 TOTAL PRINCIPAL BALANCE OF LOANS INCLUDED IN GROUP II AS OF THE CURRENT DISTRIBUTION PERIOD: 103,896,763.16 GROUP I SUBORDINATION INCREASE AMOUNT: 381,306.58 GROUP II SUBORDINATION INCREASE AMOUNT: 325,357.21 GROUP I SUBORDINATION DEFICIT AMOUNT: 0.00 GROUP II SUBORDINATION DEFICIT AMOUNT: 0.00 GROUP I PRINCIPAL REMITTANCE AMOUNT: 1,147,219.51 GROUP II PRINCIPAL REMITTANCE AMOUNT: 1,109,922.26 GROUP I WEIGHTED AVERAGE COUPON AS OF THE CURRENT DISTRIBUTION DATE: 11.3630% GROUP II WEIGHTED AVERAGE COUPON AS OF THE CURRENT DISTRIBUTION DATE: 10.2507% 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 472,142.63 GROUP II LARGEST LOAN BALANCE 498,630.68 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 - ----------------------------------------------------------------------------------------------------------------------------------- Page 4 of 5 (C) COPYRIGHT 1997 Bankers Trust Company
Block Mortgage Finance, Inc. Asset Backed Certificates Series 1997-2 Statement To Certificateholders - ----------------------------------------------------------------------------------------------------------------------------------- Distribution Date: 09/25/97 - ----------------------------------------------------------------------------------------------------------------------------------- - ----------------------------------------------------------------------------------------------------------------------------------- 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 - ----------------------------------------------------------------------------------------------------------------------------------- Page 5 of 5 (C) COPYRIGHT 1997 Bankers Trust Company
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