-----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, PGHg0/YFHoq3zS85F+xIMESsvXMlKnwIuVnuecrMR0PCXjILDiJEw+kQtvTZ7kSe 4zqRlauFV2rJREvkmMdlMQ== 0001004024-96-000016.txt : 19960711 0001004024-96-000016.hdr.sgml : 19960711 ACCESSION NUMBER: 0001004024-96-000016 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 1 CONFORMED PERIOD OF REPORT: 19960626 ITEM INFORMATION: Changes in control of registrant FILED AS OF DATE: 19960710 SROS: NONE FILER: COMPANY DATA: COMPANY CONFORMED NAME: EQUIVANTAGE HOME EQUITY LOAN TRUST 1995-2 CENTRAL INDEX KEY: 0001004024 STANDARD INDUSTRIAL CLASSIFICATION: [] STATE OF INCORPORATION: NY FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 033-87040-02 FILM NUMBER: 96592731 BUSINESS ADDRESS: STREET 1: C/O NORWEST BANK MINNESOTA TAX DEPT STREET 2: 11000 BROKEN LAND PKWY CITY: COLUMBIA STATE: MD ZIP: 21044 BUSINESS PHONE: 4108842076 MAIL ADDRESS: STREET 1: C/O NORWEST BANK MINNESOTA TAX DEPT STREET 2: 11000 BROKEN LAND PKWY CITY: COLUMBIA STATE: MD ZIP: 21044 8-K 1 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) June 26, 1996 Equivantage Home Equity Loan Trust 1995-2 (Exact name of registrant as specified in its charter) New York 33-87040 Applied For (State or other jurisdiction (Commission (IRS Employer of incorporation or File Number) Identification organization) Number) c/o Equivantage Acceptance Corp. Attention: John Smith 13111 Northwest Freeway Houston, Texas _______77040_____ (Address of principal executive offices) (Zip Code) Registrant's telephone number including area code (713) 895-1957 Equivantage Home Equity Loan Trust 1995-2 Form 8-K INDEX Page Number Item 5. Other Events 3 Item 7. Financial Statements and Exhibits 3 SIGNATURES 4 INDEX OF EXHIBITS 5 ITEM 5. OTHER EVENTS The Equivantage Home Equity Loan Trust 1995-2 makes monthly remittances to security holders. The latest remittance was made June 26, 1996. We have furnished a monthly remittance statement delivered to the trustee with security holder payment instructions. Monthly Remittance Statement................................................. .. ......Exhibit 21.1 ITEM 7. FINANCIAL STATEMENTS AND EXHIBITS Exhibits 21.1 Monthly Remittance Statement dated as of June 26, 1996. SIGNATURES 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 thereunto duly authorized. Equivantage Home Equity Loan Trust 1995-2 (Registrant) By: Norwest Bank of Minnesota, N.A. Name: Kris Solie - Johnson Title: Corporate Trust Officer INDEX OF EXHIBITS Page of Sequentially Numbered Pages 21.1 Monthly Remittance Statement dated 6- 14 as of June 26, 1996. EXHIBIT 21.1 PAGE 6 Equivantage Home Equity Loan Trust 1995-2 Norwest Bank Minnesota, N.A. Contact: Reid Denny Securities Administration Services Reporting Month: May 1996 Phone: (410) 884- 2085 11000 Broken Land Parkway Distribution Date: June 26, 1996 InvestorDirect: (800) 605- 4167 Columbia, MD 21044-7800 Cover Page Equivantage Home Equity Loan Trust 1995-2 Norwest Bank Minnesota, N.A. Contact: Reid Denny Securities Administration Services Reporting Month: May 1996 Phone: (410) 884- 2085 11000 Broken Land Parkway Distribution Date: June 26, 1996 InvestorDirect: (800) 605-4167 Columbia, MD 21044-7800 Series Structure Summary Aggregate Realized Aggregate Ending Class Original Principal Losses Principal Aggregate Interest Undistributed Principal Class Description Principal Type Interest Type Balance Pass Through Rate Balance Reduction Shortfall Principal Factor __________________________________________________________ __ __________________________________________________________ __ _______________________________________________ A-1 Senior Sequential Pay Fixed 48,500,000.00 6.40000000% 0.00 0.00 0.00 0.7550538777 A-2 Senior Sequential Pay Fixed 20,000,000.00 6.85000000% 0.00 0.00 0.00 1.0000000000 A-3 Senior Sequential Pay Fixed 6,952,000.00 7.40000000% 0.00 0.00 0.00 1.0000000000 R Residual Residual Residual 0.00 0.00000000% 0.00 0.00 0.00 0.0000000000 SUB. Subordinate Support Accretion 120.20 191.18392165% 1,138.19 0.00 0.00 _________________________________________________________ ___ _________________________________________________________ ___ _______________________________________________ Totals 75,452,120.20 1,138.19 0.00 0.00 0.8677502771 Report 1 06/18/96 -- 5:42pm Page 1 of 1 EXHIBIT 21.1 PAGE 7 Equivantage Home Equity Loan Trust 1995-2 Norwest Bank Minnesota, N.A. Contact: Reid Denny Securities Administration Services Reporting Month: May 1996 Phone: (410) 884-2085 11000 Broken Land Parkway Distribution Date: June 26, 1996 InvestorDirect: (800) 605- 4167 Columbia, MD 21044-7800 Class Distribution Summary Beginning Principal Ending Pass Through Principal Total Interest Total Principal Balance Principal Total Class Record Date Rate Balance Distribution Distribution Reduction Balance Distribution __________________________________________________________ __ __________________________________________________________ __ ____________________________________ A-1 05/31/1996 6.40000000% 39,891,727.00 212,755.88 3,271,613.93 0.00 36,620,113.07 3,484,369.81 A-2 05/31/1996 6.85000000% 20,000,000.00 114,166.67 0.00 0.00 20,000,000.00 114,166.67 A-3 05/31/1996 7.40000000% 6,952,000.00 42,870.67 0.00 0.00 6,952,000.00 42,870.67 R 05/31/1996 0.00000000% 0.00 0.00 0.00 0.00 0.00 0.00 SUB. 05/31/1996 191.18392165% 1,640,172.90 0.00 0.00 0.00 1,901,485.14 0.00 __________________________________________________________ __ __________________________________________________________ __ ____________________________________ Totals 68,483,899.90 369,793.22 3,271,613.93 0.00 65,473,598.21 3,641,407.15 Report 2 06/18/96 -- 5:42pm Page 1 of 1 EXHIBIT 21.1 PAGE 8 Equivantage Home Equity Loan Trust 1995-2 Norwest Bank Minnesota, N.A. Contact: Reid Denny Securities Administration Services Reporting Month: May 1996 Phone: (410) 884-2085 11000 Broken Land Parkway Distribution Date: June 26, 1996 InvestorDirect: (800) 605-4167 Columbia, MD 21044-7800 Class Distribution Per 1,000 of Original Balance Total Other Total Interest Scheduled Principal Total Principal Principal Ending Distribution Principal Distribution Distribution Balance Principal Class Cusip Original Balance Factor Factor Factor Factor Reduction Factor __________________________________________________________ __ __________________________________________________________ __ _____________________________ A-1 29476YAC3 48,500,000.00 4.38671918 1.53879505 60.52928103 67.45595732 0.00000000 0.7550538777 A-2 29476YAD1 20,000,000.00 5.70833350 0.00000000 0.00000000 0.00000000 0.00000000 1.0000000000 A-3 29476YAE9 6,952,000.00 6.16666715 0.00000000 0.00000000 0.00000000 0.00000000 1.0000000000 R N/A 0.00 N/A N/A N/A N/A N/A N/A SUB. N/A 120.20 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 __________________________________________________________ __ __________________________________________________________ __ _____________________________ Totals 75,452,120.20 0.8677502771 Report 3 06/18/96 -- 5:42pm Page 1 of 1 EXHIBIT 21.1 PAGE 9 Equivantage Home Equity Loan Trust 1995-2 Norwest Bank Minnesota, N.A. Contact: Reid Denny Securities Administration Services Reporting Month: May 1996 Phone: (410) 884- 2085 11000 Broken Land Parkway Distribution Date: June 26, 1996 InvestorDirect: (800) 605-4167 Columbia, MD 21044-7800 Class Principal Distribution Beginning Principal Ending Current Principal Scheduled Unscheduled Other Total Principal Balance Principal Undistributed Class Balance Principal Principal Accretion Principal Distribution Reduction* Balance Principal __________________________________________________________ __ __________________________________________________________ __ ____________________________________________ A-1 39,891,727.00 74,631.56 2,935,670.13 261,312.24 0.00 3,271,613.93 0.00 36,620,113.07 0.00 A-2 20,000,000.00 0.00 0.00 0.00 0.00 0.00 0.00 20,000,000.00 0.00 A-3 6,952,000.00 0.00 0.00 0.00 0.00 0.00 0.00 6,952,000.00 0.00 R 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 SUB. 1,640,172.90 0.00 0.00 (261,312.24) 0.00 0.00 0.00 1,901,485.14 0.00 __________________________________________________________ __ __________________________________________________________ __ ____________________________________________ Totals 68,483,899.90 74,631.56 2,935,670.13 0.00 0.00 3,271,613.93 0.00 65,473,598.21 0.00 *Principal Balance Reduction Realized Losses Principal Balance Reduction 0.00 Negative Amortization Principal Balance Reduction 0.00 Other 0.00 Notes: Accretion Amount represents the Subordination Increase Amount. Report 4 06/18/96 -- 5:42pm Page 1 of 1 EXHIBIT 21.1 PAGE 10 Equivantage Home Equity Loan Trust 1995-2 Norwest Bank Minnesota, N.A. Contact: Reid Denny Securities Administration Services Reporting Month: May 1996 Phone: (410) 884-2085 11000 Broken Land Parkway Distribution Date: June 26, 1996 InvestorDirect: (800) 605-4167 Columbia, MD 21044-7800 Class Interest Distribution Beginning Negative Ending Principal/ Interest Amortization Principal/ Notional Interest Shortfall/ Other Interest Total Interest Notional Class Pass-Through Rate Balance Accrual (Recovery) Accretion Interest Reduction Distribution Balance __________________________________________________________ __ __________________________________________________________ __ _____________________________________________ A-1 6.40000000% 39,891,727.00 212,755.88 0.00 0.00 0.00 0.00 212,755.88 36,620,113.07 A-2 6.85000000% 20,000,000.00 114,166.67 0.00 0.00 0.00 0.00 114,166.67 20,000,000.00 A-3 7.40000000% 6,952,000.00 42,870.67 0.00 0.00 0.00 0.00 42,870.67 6,952,000.00 R 0.00000000% 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 SUB. 191.18392165% 1,640,172.90 261,312.24 0.00 261,312.24 0.00 0.00 0.00 1,901,485.14 __________________________________________________________ __ __________________________________________________________ __ _____________________________________________ Totals 631,105.46 0.00 261,312.24 0.00 0.00 369,793.22 Notes: Interest Shortfall amount represents the Interest CarryForward Amount. Report 5 06/18/96 -- 5:42pm Page 1 of 1 EXHIBIT 21.1 PAGE 11 Equivantage Home Equity Loan Trust 1995-2 Norwest Bank Minnesota, N.A. Contact: Reid Denny Securities Administration Services Reporting Month: May 1996 Phone: (410) 884- 2085 11000 Broken Land Parkway Distribution Date: June 26, 1996 InvestorDirect: (800) 605- 4167 Columbia, MD 21044-7800 Fund Account Summary __________________________________________________________ __ __________________________________________________________ __ ______________________________________________________ Proceeds Account Beginning Balance 0.00 DEPOSITS: WITHDRAWALS: Interest Net of Servicing Fee 642,053.03 Interest Payments 369,793.22 Scheduled Principal 74,631.56 Scheduled Principal Payment 74,631.56 Other Principal 2,935,670.13 Other Principal Payments 3,196,982.37 Negative Amortization 0.00 Reserve Fund 1 0.00 Deposits from Reserve Fund 0.00 Fees and Expenses 10,947.57 Gain/Loss Adjustment 0.00 Other Withdrawals 0.00 Other Deposits 0.00 Total Deposit 3,652,354.72 Total Withdrawals 3,652,354.72 Ending Balance 0.00 __________________________________________________________ __ __________________________________________________________ __ ______________________________________________________ Report 6 06/18/96 -- 5:42pm Page 1 of 1 EXHIBIT 21.1 PAGE 12 Equivantage Home Equity Loan Trust 1995-2 Norwest Bank Minnesota, N.A. Contact: Reid Denny Securities Administration Services Reporting Month: May 1996 Phone: (410) 884- 2085 11000 Broken Land Parkway Distribution Date: June 26, 1996 InvestorDirect: (800) 605- 4167 Columbia, MD 21044-7800 Loss/Delinquency Detail Current Current Current Current Total Aggregate Aggregate Aggregate Aggregate Total Fraud Bankruptcy Special Hazard Credit Current Fraud Bankruptcy Special Hazard Credit Aggregate Pool # Losses Losses Losses Losses Losses Losses Losses Losses Losses Losses __________________________________________________________ __ __________________________________________________________ __ _________________________________________________ X 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 1,138.19 1,138.19 __________________________________________________________ __ __________________________________________________________ __ _________________________________________________ Totals 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 1,138.19 1,138.19 __________________________________________________________ __ __________________________________________________________ __ ________________________________________ 30 Days Delinquent 60 Days Delinquent 90 Days Delinquent Foreclosures REO's Totals Number Balance Number Balance Number Balance Number Balance Number Balance Number Balance X 49 2,240,513.78 15 723,127.23 18 910,450.76 16 1,176,680.32 2 148,015.41 100 5,198,787.50 __________________________________________________________ __ __________________________________________________________ __ ________________________________________ Totals 49 2,240,513.78 15 723,127.23 18 910,450.76 16 1,176,680.32 2 148,015.41 100 5,198,787.50 Report 7 06/18/96 -- 5:42pm Page 1 of 1 EXHIBIT 21.1 PAGE 13 Equivantage Home Equity Loan Trust 1995-2 Norwest Bank Minnesota, N.A. Contact: Reid Denny Securities Administration Services Reporting Month: May 1996 Phone: (410) 884-2085 11000 Broken Land Parkway Distribution Date: June 26, 1996 InvestorDirect: (800) 605- 4167 Columbia, MD 21044-7800 Collateral Summary Total| Pool X __________________________________________________________ __ _____________________________________________ Monthly P&I Constant 744,211.02| 744,211.02 | Positive Amortization 74,631.56| 74,631.56 Negative Amortization 0.00| 0.00 Regular Curtailments 24,711.31| 24,711.31 Regular Curtailment Interest 0.00| 0.00 Prepaid Curtailments 0.00| 0.00 Prepaid Curtailment Interest 0.00| 0.00 Liquidations 2,910,958.82| 2,910,958.82 Principal Adjustments 0.00| 0.00 Total Principal Trust Distribution 3,010,301.69| 3,010,301.69 | Scheduled Interest 669,579.46| 669,579.46 Servicing Fee 27,526.43| 27,526.43 Master Servicing Fee 2,436.46| 2,436.46 Spread 0.00| 0.00 Total Pass-Through Interest 631,105.45| 631,105.45 | Beginning Balance 68,483,899.90| 68,483,899.90 Ending Balance 65,473,598.21| 65,473,598.21 Gross P&I Distribution 3,652,354.72| 3,652,354.72 Realized Losses/(Gains) 0.00| 0.00 Net P&I Trust Distribution 3,652,354.72| 3,652,354.72 | Beginning Loan Count 1404| 1404 Number of Loan Payoffs 48| 48 Ending Loan Count 1356| 1356 | Weighted Average Maturity 235.0000000000| 235.0000000000 Weighted Average Gross Rate 11.732616760%| 11.732616760% Weighted Average Net Rate 11.250288560%| 11.250288560% Weighted Average Pass-Through Rate 11.058461050%| 11.058461050% Weighted Average Margin 0.000000000%| 0.000000000% | Advances on Delinquencies | Current Period Principal 0.00| 0.00 Current Period Interest 789,575.21| 789,575.21 | | Report 8 06/18/96 -- 5:42pm Page 1 of 1 EXHIBIT 21.1 PAGE 14 Equivantage Home Equity Loan Trust 1995-2 Norwest Bank Minnesota, N.A. Contact: Reid Denny Securities Administration Services Reporting Month: May 1996 Phone: (410) 884- 2085 11000 Broken Land Parkway Distribution Date: June 26, 1996 InvestorDirect: (800) 605- 4167 Columbia, MD 21044-7800 Credit Enhancement Summary Initial Current Current Current Current Current Coverage Period Period Cumulative Coverage Coverage Pool Type/Purpose Amount Losses Additions Losses Percentage Amount Balance __________________________________________________________ __ __________________________________________________________ __ ___________________________________________ Subordination 120.20 0.00 0.00 1,138.19 2.90420138% 1,901,485.14 65,473,598.21 Principal Distribution Scheduled Unscheduled Amount Percentage Payment Payment __________________________________________________________ _ Senior 3,010,301.69 100.00000000% 100.00000000% 100.00000000% Subordinate 0.00 0.00000000% 0.00000000% 0.00000000% Report 9 06/18/96 -- 5:42pm Page 1 of 1 -----END PRIVACY-ENHANCED MESSAGE-----