-----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, RJUxstja6owppkbvvDGUE22KnbPc4hBZw/VaJytW6aYUbtZvVipgmSLnzqQ1Dk4c de6O0x4PDgpjM65lHzP8MQ== 0000950130-97-001379.txt : 19970401 0000950130-97-001379.hdr.sgml : 19970401 ACCESSION NUMBER: 0000950130-97-001379 CONFORMED SUBMISSION TYPE: 10-K PUBLIC DOCUMENT COUNT: 4 CONFORMED PERIOD OF REPORT: 19961231 FILED AS OF DATE: 19970331 SROS: NASD FILER: COMPANY DATA: COMPANY CONFORMED NAME: MONEY STORE TRUST 1996-B CENTRAL INDEX KEY: 0001017681 STANDARD INDUSTRIAL CLASSIFICATION: MORTGAGE BANKERS & LOAN CORRESPONDENTS [6162] IRS NUMBER: 222293022 STATE OF INCORPORATION: NJ FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 10-K SEC ACT: 1934 Act SEC FILE NUMBER: 033-98734-14 FILM NUMBER: 97568746 BUSINESS ADDRESS: STREET 1: 2840 MORRIS AVE CITY: UNION STATE: NJ ZIP: 07083 BUSINESS PHONE: 9086862200 10-K 1 FORM 10-K SECURITIES AND EXCHANGE COMMISSION WASHINGTON, DC 20549 FORM 10-K [X] ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(D) OF THE SECURITIES EXCHANGE ACT OF 1934 [NO FEE REQUIRED] FOR THE FISCAL YEAR ENDED DECEMBER 31, 1996 [ ] TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(D) OF THE SECURITIES EXCHANGE ACT OF 1934 [NO FEE REQUIRED] FOR THE TRANSITION PERIOD FROM TO COMMISSION FILE NUMBER 33-98734 THE MONEY STORE INC. (AS REPRESENTATIVE UNDER A POOLING AND SERVICING AGREEMENT DATED AS OF MAY 31, 1996 PROVIDING FOR THE ISSUANCE OF TMS ASSET BACKED CERTIFICATES, SERIES 1996-B) AND EACH OF THE ORIGINATORS LISTED ON EXHIBIT A ATTACHED HERETO. THE MONEY STORE INC. - -------------------------------------------------------------------------------- (EXACT NAME OF REGISTRANT AS SPECIFIED IN ITS CHARTER) NEW JERSEY 68-0391373 - ---------------------------- (I.R.S. EMPLOYER (STATE OR OTHER JURISDICTION IDENTIFICATION NO.) OF INCORPORATION OR ORGANIZATION) 2840 MORRIS AVENUE, UNION, NJ 07083 - --------------------------------------- --------- (ADDRESS OF PRINCIPAL EXECUTIVE OFFICES (ZIP CODE) 908-686-2000 ------------------------------------------------------ (REGISTRANT'S TELEPHONE NUMBER, INCLUDING AREA CODE) SECURITIES REGISTERED PURSUANT TO SECTION 12(B) OF THE ACT: NAME OF EACH EXCHANGE ON TITLE OF EACH CLASS WHICH REGISTERED ------------------- ------------------------ NONE NONE SECURITIES REGISTERED PURSUANT TO SECTION 12(G) OF THE ACT: NONE --------------- (TITLE OF CLASS) INDICATE BY CHECK MARK WHETHER THE REGISTRANT (1) HAS FILED ALL REPORTS REQUIRED TO BE FILED BY SECTION 13 OR 15(D) OF THE SECURITIES EXCHANGE ACT OF 1934 DURING THE PRECEDING TWELVE MONTHS (OR FOR SUCH SHORTER PERIOD THAT THE REGISTRANT WAS REQUIRED TO FILE SUCH REPORTS), AND (2) HAS BEEN SUBJECT TO SUCH FILING REQUIREMENTS FOR THE PAST 90 DAYS. YES X NO --- --- INDICATE BY CHECK MARK IF DISCLOSURE OF DELINQUENT FILERS PURSUANT TO ITEM 405 OF REGULATION S-K IS NOT CONTAINED HEREIN AND WILL NOT BE CONTAINED TO THE BEST OF REGISTRANT'S KNOWLEDGE, IN DEFINITIVE PROXY OR INFORMATION STATEMENTS INCORPORATED BY REFERENCE IN PART III OF THIS FORM 10-K OR ANY AMENDMENT TO THIS FORM 10-K. NOT APPLICABLE STATE THE AGGREGATE MARKET VALUE OF THE VOTING STOCK HELD BY NON-AFFILIATES OF THE REGISTRANT. NOT APPLICABLE INDICATE THE NUMBER OF SHARES OUTSTANDING OF EACH OF THE REGISTRANT'S CLASSES OF COMMON STOCK, AS OF DECEMBER 31, 1996. NOT APPLICABLE THIS ANNUAL REPORT ON FORM 10-K IS FILED PURSUANT TO A REQUEST FOR NO-ACTION LETTER FORWARDED TO THE OFFICE OF CHIEF COUNSEL DIVISION OF CORPORATION FINANCING, DATED JUNE 18, 1993 AND THE RESPONSE OF THE SEC DATED AUGUST 4, 1993 TO THE NO-ACTION REQUEST. PART I Item 1. BUSINESS -------- Omitted pursuant to the "Request for no-action letter forwarded to the Office of Chief Counsel Division of Corporation Finance" dated June 18, 1993 and the response of the SEC dated August 4, 1993 to the no-action request. Item 2. PROPERTIES ---------- Reference is made to the Annual Compliance Certificate attached as Exhibit 20 hereto. Reference is made to the Annual Statement attached as Exhibit 13 hereto. Item 3. LEGAL PROCEEDINGS ----------------- NONE Item 4. SUBMISSION OF MATTERS TO VOTE OF SECURITY HOLDERS ------------------------------------------------- None PART II Item 5. MARKET FOR REGISTRANT'S COMMON EQUITY AND RELATED STOCKHOLDER MATTERS --------------------------------------------------------------------- There is no established trading market for Registrant's securities subject to this filing. Number of holders of record of the Certificates as of January 31, 1997: 256_ Item 6. SELECTED FINANCIAL DATA ----------------------- Omitted pursuant to the "Request for no-action letter forwarded to the Office of Chief Counsel Division of Corporation Finance" dated June 18, 1993 and the response of the SEC dated August 4, 1993 to the no-action request. Item 7. MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS ----------------------------------------------------------------------- OF OPERATIONS ------------- Omitted pursuant to the "Request for no-action letter forwarded to the Office of Chief Counsel Division of Corporation Finance" dated June 18, 1993 and the response of the SEC dated August 4, 1993 to the no-action request. Item 8. FINANCIAL STATEMENTS AND SUPPLEMENTARY DATA ------------------------------------------- Reference is made to the Annual Compliance Certificate attached as Exhibit 20 hereto. Reference is made to the annual Independent Accountant's Report on the Servicer's compliance with loan servicing standards as prepared by KPMG Peat Marwick, the Servicer's and Registrant's Independent Certified Public Accountants, accompanied by the Registrant's Management Assertion, and attached as Exhibit 99 hereto. Item 9. CHANGES IN AND DISAGREEMENTS WITH ACCOUNTANTS ON ACCOUNTING AND --------------------------------------------------------------- FINANCIAL DISCLOSURE -------------------- None. PART III Item 10. DIRECTORS AND EXECUTIVE OFFICERS OF THE REGISTRANT -------------------------------------------------- Omitted pursuant to the "Request for no-action letter forwarded to the Office of Chief Counsel Division of Corporation Finance" dated June 18, 1993 and the response of the SEC dated August 4, 1993 to the no-action request. Item 11. EXECUTIVE COMPENSATION ---------------------- Omitted pursuant to the "Request for no-action letter forwarded to the Office of Chief Counsel Division of Corporation Finance" dated June 18, 1993 and the response of the SEC dated August 4, 1993 to the no-action request. Item 12. SECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT -------------------------------------------------------------- The following information is furnished as of January 31, 1997 as to each Certificateholder of record of more than 5% of the Certificates:
Amount of Notes of Name and Address Beneficial % of Title of Class of Beneficial Owner Owner Class TMS Home Equity Loan Asset-Backed Bankers Trust Certificates, Series 1996-B, Class A-1 c/o BT Services Tennessee, Inc. 12,235,000 7 Custody Services 648 Grassmere Park Road Nashville, TN 37211 Boston Safe Deposit & Trust 16,325,000 10 Co. c/o Mellon Bank, N.A. Three Mellon Bank Center Room 153-3015 Pittsburgh, PA 15259 Fleet Bank of Massachusetts, 22,440,000 13 N.A. c/o ADP Proxy Services 51 Mercedes Way Edgewood, New York 11717 Northern Trust Company 11,900,000 7 801 S. Canal C-In Chicago, IL 60607 PNC Bank, N.A./Pittsburgh 25,000,000 15 One PNC Plaza, 9th Floor 249 5th Avenue Pittsburgh, PA 15222-7707 SSB-Custodian 45,645,000 27 Global Proxy Unit, A5NW P.O. Box 1631 Boston, MA 02105-1631 TMS Home Equity Loan Asset-Backed Bankers Trust 6,950,000 8 Certificates, Series 1996-B, Class A-2 c/o BT Services Tennessee, Inc. Custody Services 648 Grassmere Park Road Nashville, TN 37211
Chase Manhattan Bank 29,860,000 35 Two Chase Manhattan Plaza, 5th Fl. New York, NY 10081 The First National Bank of 10,200,000 12 Maryland Trust Division-Operations Dept. 101-623 25 S. Charles Street Baltimore, MD 21201 Union Bank 10,200,000 12 530 B. Street, Suite 222 San Diego, CA 92112 Prudential Securities 5,000,000 6 Incorporated 111 8th Avenue, 4th Floor New York, NY 10011 TMS Home Equity Loan Asset-Backed The Bank of New York 10,750,000 13 Certificates, Series 1996-B, Class A-3 925 Patterson Plank Road Secaucus, NJ 07094 Bankers Trust 17,198,000 20 c/o BT Services Tennessee, Inc. Custody Services 648 Grassmere Park Road Nashville, TN 37211 Boston Safe Deposit & Trust 14,500,000 17 Co. c/o Mellon Bank, N.A. Three Mellon Bank Center Room 153-3015 Pittsburgh, PA 15259 Chase Manhattan Bank 13,000,000 15 Two Chase Manhattan Plaza, 5th Fl. New York, NY 10081 Chase Manhattan Bank/Chemical 15,100,000 18 Auto Settle Department 4 New York Plaza, 4th Floor New York, NY 10081 Northern Trust Company 6,525,000 8 801 S. Canal C-In Chicago, IL 60607 SSB-Custodian 4,250,000 5 Global Proxy Unit, A5NW P.O. Box 1631 Boston, MA 02105-1631 TMS Home Equity Loan Asset Backed PNC Bank, N.A./Pittsburgh 90,870,000 95 Certificates Series 1996-B, One PNC Plaza, 9th Floor Class A-4 249 5th Avenue Pittsburgh, PA 15222-7707
TMS Home Equity Loan Asset-Backed Bankers Trust Company 23,425,000 15 Certificates Custody Services Series 1996-B, Class A-5 c/o BT Services Tennessee Inc. 648 Grassmere Park Road Nashville, TN 37211 Boston Safe Deposit & Trust Co. 25,675,000 16 c/o Mellon Bank N.A. Three Mellon Bank Center Room 153-3015 Pittsburgh, PA 15259 Investors Bank & Trust/M.F. 19,538,000 12 Custody 89 South Street, 6th Fl. Corp. Action Dept. Boston, MA 02111 Northern Trust Company 28,040,000 18 801 S. Canal C-In Chicago, IL 60607 SSB-Custodian 26,760,000 17 Global Proxy Unit, A5NW P.O. Box 1631 Boston, MA 02105-1631 TMS Home Equity Loan Asset-Backed Boston Safe Deposit & Trust Co. 3,000,000 5 Certificates c/o Mellon Bank N.A. Series 1996-B, Class A-6 Three Mellon Bank Center Room 153-3015 Pittsburgh, PA 15259 Chase Manhattan Bank 15,267,000 34 Two Chase Manhattan Plaza, 5th Fl. New York, NY 10081 Chase Manhattan Bank/Chemical 16,100,000 24 Auto Settle Department 4 New York Plaza, 4th Floor New York, NY 10081 NBD Bank 17,000,000 26 611 Woodward Avenue Detroit, Michigan 48226 PNC Bank, N.A./Pittsburgh 5,800,000 9 One PNC Plaza, 9th Floor 249 5th Avenue Pittsburgh, PA 15222-7707 SSB-Custodian 4,920,000 7 Global Proxy Unit, A5NW P.O. Box 1631 Boston, MA 02105-1631
TMS Home Equity Loan Asset-Backed Bankers Trust 10,052,000 10 Certificates c/o BT Services Tennessee Inc. Series 1996-B, Class A-7 Custody Services 648 Grassmere Park Road Nashville, TN 37211 Boston Safe Deposit & Trust Co. 6,300,000 6 c/o Mellon Bank N.A. Three Mellon Bank Center Room 153-3015 Pittsburgh, PA 15259 Chase Manhattan Bank 6,375,000 6 Two Chase Manhattan Plaza, 5th Fl. New York, NY 10081 Corestates Bank, N.A. 14,670,000 15 P.O. Box 7618 F.C. #1-9-1-21 Philadelphia, PA 19106-7618 The First National Bank of 5,425,000 5 Boston c/o ADP Proxy Services 51 Mercedes Way Edgewood, NY 11717 M & I Marshall & Iisley Bank 20,000,000 20 Marshall & Iisley Trust Co. 1000 North Water Street P.O. Box 2977 Milwaukee, WI 53202 SSB-Custodian 16,285,000 16 Global Proxy Unit, A5NW P.O. Box 1631 Boston, MA 02105-1631 TMS Home Equity Loan Asset-Backed The Bank of New York 5,125,000 5 Certificates 925 Patterson Plank Road Series 1996-B, Class A-8 Secaucus, New Jersey 07094 Bear Stearns Securities 5,000,000 5 Corp./Portal One Metrotech Center North 4th Floor Brooklyn, NY 11201-3862 Boston Safe Deposit & Trust 20,471,000 19 Co. c/o Mellon Bank N.A. Three Mellon Bank Center Room 153-3015 Pittsburgh, PA 15259 Chase Manhattan Bank 49,342,000 46 Two Chase Manhattan Plaza, 5th Fl. New York, NY 10081 TMS Home Equity Loan Asset-Backed Chase Manhattan Bank 9,139,000 13 Certificates Two Chase Manhattan Plaza, Series 1996-B, Class A-9 5th Fl. New York, NY 10081 Chase Manhattan Bank/Chemical 42,000,000 62 Auto Settle Department 4 New York Plaza, 4th Floor New York, NY 10081
Citicorp Services Inc. 3,700,000 5 P.O. Box 30576 Tampa, FL 33630-3575 Compass Bank-ALFA 5,000,000 7 701 South 32nd Street Birmingham, AL 35233 The Fifth Third Bank 5,000,000 7 Dept. 00850 - Proxy 38 Fountain Square Plaza Cincinatti, OH 45263 TMS Home Equity Loan Asset-Backed Bankers Trust 8,000,000 6 Certificates c/o BT Services Tennessee Inc. Series 1996-B, Class A-10 Custody Services 648 Grassmere Park Road Nashville, TN 37211 Chase Manhattan Bank 43,000,000 34 Two Chase Manhattan Plaza, 5th Fl. New York, NY 10081 Marine Treasury Investments 11,500,000 9 140 Broadway - Level A New York, NY 10015 Republic National Bank of New 12,400,000 10 York Investment Account One Hanson Place, Lower Level Brooklyn, NY 11243 The Bank of California 18,000,000 14 Safekeeping Department 475 Sansome Street, 11th Floor San Francisco, CA 94145 TMS Home Equity Loan Asset-Backed TMS Home Equity Loan 5,000,000 8 Certificates Asset-Backed Certificates Series 1996-B, Class A-11 Series 1996-B, Class A-12 Bank One Trust Company N.A. 5,000,000 8 235 W. Schrock Road Westerville, OH 43081-0393 Lehman Brothers, Inc. 25,000,000 2 c/o BSSC Attn: proxy Dept. P.O. Box 29198 Brooklyn, NY 11202-9198 LBI-Lehman Government 42,300,000 64 Securities Inc. 200 Vesey Street New York, NY 10285 Wilmington Trust Co. 6,000,000 9 Rodney Square North 1100 North Market Street Wilmington, DE 19890-0001
TMS Home Equity Loan Asset-Backed Bankers Trust 6,958,000 37 Certificates c/o BT Services Tennessee Inc. Series 1996-B, Class A-12 Custody Services 648 Grassmere Park Road Nashville, TN 37211 Citicorp Services Inc. 2,750,000 15 P.O. Box 30576 Tampa, FL 33630-3576 Harris Trust & Savings Bank 7,250,000 38 Proxy Operations 111 West Monroe Street, 1130 Chicago, IL 60690 Norwest Bank Minnesota 2,000,000 11 National Association 733 Marquette Avenue Minneapolis, MN 55479-0056 TMS Home Equity Loan Asset-Backed The Bank of New York 20,764,000 45 Certificates 925 Patterson Plank Road Series 1996-B, Class A-13 Secaucus, New Jersey 07094 Bankers Trust Company 2,574,000 6 c/o BT Services Tennessee Inc. Custody Services 648 Grassmere Park Road Nashville, TN 37211 Boston Safe Deposit & Trust 3,000,000 6 Co. c/o Mellon Bank N.A. Three Mellon Bank Center Room 153-3015 Pittsburgh, PA 15259 LBI-Lehman Government 12,521,000 27 Securities Inc. 200 Vesey Street New York, NY 10285 SSB-Custodian 5,000,000 11 Global Proxy Unit, A5NW P.O. Box 1631 Boston, MA 02105-1631 TMS Home Equity Loan Asset-Backed The Bank of New York 676,000 5 Certificates 925 Patterson Plank Road Series 1996-B, Class A-14 Secaucus, New Jersey 07094 Bankers Trust Company 4,840,000 34 c/o BT Services Tennessee Inc. Custody Services 648 Grassmere Park Road Nashville, TN 37211 Chase Manhattan Bank 1,431,000 10 Two Chase Manhattan Plaza, 5th Fl. New York, NY 10081 Investors Bank & Trust/M.F. 5,000,000 35 Custody 89 South Street 6th Fl. Corp. Action Dept. Boston, MA 02111
TMS Home Equity Loan Asset-Backed Bankers Trust Company 9,415,000 46 Certificates c/o BT Services Tennessee Inc. Series 1996-B, Class A-15 Custody Services 648 Grassmere Park Road Nashville, TN 37211 LBI-Lehman Government 3,714,000 18 Securities Inc. 200 Vesey Street New York, NY 10285 SSB-Custodian 7,235,000 36 Global Proxy Unit, A5NW P.O. Box 1631 Boston, MA 02105-1631 TMS Home Equity Loan Asset-Backed Bankers Trust Company 3,450,000 17 Certificates c/o BT Services Tennessee Inc. Series 1996-B, Class A-16 Custody Services 648 Grassmere Park Road Nashville, TN 37211 Chase Manhattan Bank 5,000,000 25 Two Chase Manhattan Plaza, 5th Fl. New York, NY 10081 Northern Trust Company 3,000,000 15 801 S. Canal C-In Chicago, IL 60607 SSB-Custodian 4,475,000 22 Global Proxy Unit, A5NW P.O. Box 1631 Boston, MA 02105-1631 First Bank, N.A. 2,200,000 11 c/o ICE Proxy Services 71 Executive Blvd. Farmingdale, NY 11735
Item 13. CERTAIN RELATIONSHIPS AND RELATED TRANSACTIONS ---------------------------------------------- (a) None (b)-(d)Omitted pursuant to the "Request for no-action letter forwarded to the Office of Chief Counsel Division of Corporation Finance" dated June 18, 1993 and the response of the SEC dated August 4, 1993 to the no-action request. PART IV Item 14. EXHIBITS, FINANCIAL STATEMENT SCHEDULES, AND REPORTS ON FORM 8-K ---------------------------------------------------------------- 1. The consolidated financial statements of MBIA Insurance Corporation (the surety provider for TMS Home Equity Loan Asset Backed Certificates, Series 1996-B) and subsidiaries contained in the annual report on form 10-K for the year ended December 31, 1996 which has been filed with the SEC by MBIA Inc. on March 27, 1997 is hereby incorporated herein by reference. 2. Not Applicable 3. Exhibits -------- 13. Annual Statement 20. Annual Compliance Certificate 99. Reference is made to the annual Independent Accountant's Report on the Servicer's compliance with loan servicing standards as prepared by KPMG Peat Marwick, the Servicer's and Registrant's Independent Certified Public Accountants, accompanied by the Registrant's anagement Assertion, and attached as Exhibit 99 hereto. (b)-(d)Omitted pursuant to the "Request for no-action letter forwarded to the Office of Chief Counsel Division of Corporation Finance" dated June 18, 1993 and the response of the SEC dated August 4, 1993 to the no- action request. SIGNATURES Pursuant to the requirements of Section 13 or 15(d) of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereto duly authorized on the 27th day of March, 1997. THE MONEY STORE INC., as Representative BY: /s/ Marc Turtletaub ---------------------------------- MARC TURTLETAUB PRESIDENT AND CHIEF EXECUTIVE OFFICER BY: /s/ Morton Dear ---------------------------------- MORTON DEAR EXECUTIVE VICE PRESIDENT CHIEF FINANCIAL OFFICER (PRINCIPAL FINANCIAL OFFICER) BY: /s/ James K. Ransom ---------------------------------- JAMES K. RANSOM VICE PRESIDENT (PRINCIPAL ACCOUNTING OFFICER) Pursuant to the requirements of the Securities Exchange Act of 1934, this report has been signed below by the following persons on behalf of the Registrant and in the capacities indicated on the day of March 27th, 1997. BY: /s/ Alan Turtletaub ---------------------------------- ALAN TURTLETAUB EXECUTIVE VICE PRESIDENT CHAIRMAN OF THE BOARD OF DIRECTORS BY: /s/ Marc Turtletaub ---------------------------------- MARC TURTLETAUB PRESIDENT AND CHIEF EXECUTIVE OFFICER DIRECTOR BY: /s/ Morton Dear ---------------------------------- MORTON DEAR EXECUTIVE VICE PRESIDENT CHIEF FINANCIAL OFFICER (PRINCIPAL FINANCIAL OFFICER) DIRECTOR BY: /s/ Harry Puglisi ---------------------------------- HARRY PUGLISI TREASURER DIRECTOR Schedule A List of Originators -------------------- 1996-B ------ The Money Store/Minnesota Inc. The Money Store/D.C. Inc. The Money Store/Kentucky Inc. The Money Store Home Equity Corp. TMS Mortgage Inc. EX-13 2 ANNUAL STATEMENT EXHIBIT 13 SERVICER'S CERTIFICATE In Accordance with Section 6.10 of the Pooling and Servicing Agreement dated February 29, 1996, The Money Store, Inc. reports the following information pertaining to the Series 1996-B, for the calendar year 1996 Per Section 6.10 (XI) Amount of Interest Received: Pool I 47,427,048.49 Pool II 8,426,090.49 Pool III 6,200,396.81 Pool IV 1,175,309.83 (XI) Principal and Other Servicer Fees Collected (A) Principal POOL I 75,769,288.68 POOL II 19,844,833.87 POOL III 8,989,822.09 POOL IV 167,772.19 (B) Other Servicer Fees POOL I 334,011.52 POOL II 119,622.00 POOL III 19,313.56 POOL IV 140.00 ( I),(II) Class "A-1" Remittance Amount: (A) Current Interest Requirement 5,927,861.47 (B) Principal Distribution Amount 47,087,666.56 (C) Carry Forward Amount 0.00 (D) Monthly Advance 0.00 TOTAL CLASS "A-1" REMITTANCE AMOUNT 53,015,528.03 Class "A-2" Remittance Amount: (A) Current Interest Requirement 2,566,731.67 (B) Principal Distribution Amount 47,044,735.02 (C) Carry Forward Amount 0.00 (D) Monthly Advance 0.00 TOTAL CLASS "A-2" REMITTANCE AMOUNT 49,611,466.69 Class "A-3" Remittance Amount: (A) Current Interest Requirement 3,368,574.17 (B) Principal Distribution Amount 0.00 (C) Carry Forward Amount 0.00 (D) Monthly Advance 0.00 TOTAL CLASS "A-3" REMITTANCE AMOUNT 3,368,574.17 1 Class "A-4" Remittance Amount: (A) Current Interest Requirement 3,869,453.57 (B) Principal Distribution Amount 0.00 (C) Carry Forward Amount 0.00 (D) Monthly Advance 0.00 TOTAL CLASS "A-4" REMITTANCE AMOUNT 3,869,453.57 Class "A-5" Remittance Amount: (A) Current Interest Requirement 6,577,274.90 (B) Principal Distribution Amount 0.00 (C) Carry Forward Amount 0.00 (D) Monthly Advance 0.00 TOTAL CLASS "A-5" REMITTANCE AMOUNT 6,577,274.90 Class "A-6" Remittance Amount: (A) Current Interest Requirement 2,839,879.35 (B) Principal Distribution Amount 0.00 (C) Carry Forward Amount 0.00 (D) Monthly Advance 0.00 TOTAL CLASS "A-6" REMITTANCE AMOUNT 2,839,879.35 Class "A-7" Remittance Amount: (A) Current Interest Requirement 4,354,267.46 (B) Principal Distribution Amount 0.00 (C) Carry Forward Amount 0.00 (D) Monthly Advance 0.00 TOTAL CLASS "A-7" REMITTANCE AMOUNT 4,354,267.46 Class "A-8" Remittance Amount: (A) Current Interest Requirement 4,948,878.33 (B) Principal Distribution Amount 0.00 (C) Carry Forward Amount 0.00 (D) Monthly Advance 0.00 TOTAL CLASS "A-8" REMITTANCE AMOUNT 4,948,878.33 Class "A-9" Remittance Amount: (A) Current Interest Requirement 3,221,221.85 (B) Principal Distribution Amount 0.00 (C) Carry Forward Amount 0.00 (D) Monthly Advance for Bankruptcy 0.00 TOTAL CLASS "A-9" REMITTANCE AMOUNT 3,221,221.85 Pool I Remittance Amount: (A) Current Interest Requirement 37,674,142,78 (B) Principal Distribution Amount 94,132,401.58 (C) Carry Forward Amount 0.00 (D) Monthly Advance for Bankruptcy 0.00 TOTAL Pool I REMITTANCE AMOUNT 131,806,544.36 Class "A-10" Remittance Amount: (A) Current Interest Requirement 4,136,849.61 (B) Principal Distribution Amount 14,541,029.31 (C) Carry Forward Amount 0.00 (D) Monthly Advance for Bankruptcy 0.00 TOTAL CLASS "A-10" REMITTANCE AMOUNT 18,677,878.93 2 CLASS "A-11" REMITTANCE AMOUNT: (A) Current Interest Requirement 2,207,919.84 (B) Principal Distribution Amount 8,675,000.00 (C) Carry Forward Amount 0.00 (D) Monthly Advance for Bankruptcy 0.00 TOTAL CLASS "A-11" REMITTANCE AMOUNT 10,882,919.84 Pool II Remittance Amount: (A) Current Interest Requirement 6,344,769.45 (B) Principal Distribution Amount 23,216,029.31 (C) Carry Forward Amount 0.00 (D) Monthly Advance for Bankruptcy 0.00 TOTAL Pool II REMITTANCE AMOUNT 29,560,798.76 CLASS "A-12" REMITTANCE AMOUNT: (A) Current Interest Requirement 534,776.43 (B) Principal Distribution Amount 11,991,651.91 (C) Carry Forward Amount 0.00 (D) Monthly Advance for Bankruptcy 0.00 TOTAL CLASS "A-12" REMITTANCE AMOUNT 12,526,428.34 Class "A-13" Remittance Amount: (A) Current Interest Requirement 1,865,225.25 (B) Principal Distribution Amount 0.00 (C) Carry Forward Amount 0.00 (D) Monthly Advance for Bankruptcy 0.00 TOTAL CLASS "A-13" REMITTANCE AMOUNT 1,865,225.25 Class "A-14" Remittance Amount: (A) Current Interest Requirement 614,698.89 (B) Principal Distribution Amount 0.00 (C) Carry Forward Amount 0.00 (D) Monthly Advance for Bankruptcy 0.00 TOTAL CLASS "A-14" REMITTANCE AMOUNT 614,698.89 Class "A-15" Remittance Amount: (A) Current Interest Requirement 938,441.00 (B) Principal Distribution Amount 0.00 (C) Carry Forward Amount 0.00 (D) Monthly Advance for Bankruptcy 0.00 TOTAL CLASS "A-15" REMITTANCE AMOUNT 938,441.00 Pool III Remittance Amount: (A) Current Interest Requirement 3,953,141.57 (B) Principal Distribution Amount 11,991,651.91 (C) Carry Forward Amount 0.00 (D) Monthly Advance for Bankruptcy 0.00 TOTAL Pool III REMITTANCE AMOUNT 15,944,793.48 Class "A-16" (Pool IV) Remittance Amount: (A) Current Interest Requirement 926,694.70 (B) Principal Distribution Amount 510,485.69 (C) Carry Forward Amount 0.00 3 (D) Monthly Advance for Bankruptcy 0.00 TOTAL POOL IV REMITTANCE AMOUNT 1,437,180.39 (VI) (A) Servicing Fee for the Related Due Period POOL I 1,099,478.15 POOL II 223,744.57 POOL III 123,972.74 POOL IV 25,966.28 (B) Contingency Fee for the Related Due Period POOL I 1,099,478.15 POOL II 223,744.57 POOL III 123,972.74 POOL IV 25,966.28 (C) Amount to be Deposited to the Expense Account - Trustee POOL I 260,923.98 POOL II 56,173.35 POOL III 27,725.76 POOL IV 5,784.60 (D) Amount to be Deposited to the Insurance Account - MBIA POOL I 442,571.00 POOL II 114,816.00 POOL III 141,535.00 POOL IV 54,464.00 (E) FHA Premium Account 44,118.00 (F) Class "A-11" Auction Agent Fee 113,247.43 (XXXV) Other Information as requested (A) Spread Account Balances POOL I 49,429,269.12 POOL II 0.00 POOL III 42,519,801.40 POOL IV 8,503,960.28 (B) Amount to be Deposited into Pool III Spread Account due to Trigger Activation 0.00 (III) Amount of Distribution Paid From the Spread Account POOL I 0.00 POOL II 0.00 POOL III 0.00 POOL IV 0.00 (IV) Pool Balance as of the Close of Business on 12/31/96 POOL I 849,429,269.97 POOL II 179,474,777.48 POOL III 90,234,043.55 POOL IV 19,698,536.15 (V) Certificate Balance and Certificate Factor (A) Certificate Balance POOL I 835,867,598.42 POOL II 176,783,970.69 POOL III 88,008,348.09 POOL IV 19,489,514.31 (B) Certificate Factor POOL I 0.89878236 POOL II 0.88391985 4 POOL III 0.88008348 POOL IV 0.97447572 (VII)(A) Amount of Principal Carryover Shortfall POOL I 0.00 POOL II 0.00 POOL III 0.00 POOL IV 0.00 (C) Change in Principal Carryover Shortfall POOL I 0.00 POOL II 0.00 POOL III 0.00 POOL IV 0.00 (B) Amount of Interest Carryover Shortfall POOL I 0.00 POOL II 0.00 POOL III 0.00 POOL IV 0.00 (C) Change in Interest Carryover Shortfall POOL I 0.00 POOL II 0.00 POOL III 0.00 POOL IV 0.00 (XIV)Reimbursements to the Certificate Insurer POOL I 0.00 POOL II 0.00 POOL III 0.00 POOL IV 0.00 By: /s/ James K. Ransom ------------------- James Ransom Vice President 5 EX-20 3 ANNUAL COMPLIANCE AGREEMENT Exhibit 20 OFFICER'S CERTIFICATE Harry Puglisi, Treasurer of The Money Store Inc. (the "Servicer"), in accordance with Section 7.04 of The Pooling and Servicing Agreement (the "Agreement") dated as of May 31, 1996 wherein The Money Store is the "Servicer" states the following: (I) the Servicer has fully complied with the provisions of Articles V and VII; (ii) the Claims Administrator has fully complied with Section 5.15; (iii) a review of the activities of the Servicer during 1996 and of its performance under the Agreement has been made under my supervision; and (iv) to the best of my knowledge, based on my review, the Servicer has fulfilled all its obligations under the Agreement throughout 1996 and there has been no default in the fulfillment of any such obligation. THE MONEY STORE INC. by: /s/ Harry Puglisi --------------------------- Harry Puglisi Treasurer EX-99 4 INDEPENDENT ACCOUNTANT'S REPORT Exhibit 99 Page 1 of 2 KMPG Peat Marwick LLP Independent Accountants' Report The Board of Directors The Money Store Inc.: We have examined Management's Assertion about The Money Store Inc. and subsidiaries (the Company) compliance with the minimum reviewing standards relating to mortgage loans, Small Business Administration loans and auto loans, identified in the Mortgage Bankers Association of America's Uniform Single Attestation Program for Mortgage Bankers (USAP), except for minimum servicing standard V.4 which is inapplicable to the servicing of auto loans, as of and for the year ended December 31, 1996 included in the accompanying Management Assertion. Management is responsible for the Company's compliance with those minimum servicing standards. Our responsibility is to express an opinion on Management's Assertion about the Company's compliance based our examination. Our examination was made in accordance with standards established by the American Institute of Certified Public Accountants and accordingly, included examining, on a test basis, evidence about the Company's compliance with the minimum servicing standards and performing such other procedures as we considered necessary in the circumstances. We believe that our examination provides a reasonable basis for our opinion. Our examination does not provide legal determination o n the Company's compliance with the minimum servicing standards. In our opinion, Management's Assertion that the Company complied with the aforementioned minimum servicing standards as of and for the year ended December 31, 1996 is fairly stated, in all material respects. /s/ KPMG Pete Marwick, L.L.P. February 12, 1997 Exhibit 99 Page 2 of 2 THE MONEY STORE February 12, 1997 MANAGEMENT'S ASSERTION As of and for the year ended December 31, 1996, The Money Store Inc. and subsidiaries (the Company) has complied in all material respects with the minimum servicing standards relating to mortgage loans, Small Business Administration loans and auto loans as set forth in the Mortgage Bankers Association of America's Uniform Single Attestation Program for Mortgage ----------------------------------------------- Bankers, except for minimum servicing standard V.4, which in inapplicable for - ------- auto loans. As of and for this same period, the Company had in effect a fidelity bond policy, an errors and omissions policy, a mortgage impairment policy and an excess mortgage impairment policy in the amounts of six million, five million, one million and two million, respectively. /s/ James K. Ransom /s/ John C. Hill - ---------------------------- ------------------------------- James K. Ransom John C. Hill Vice President and Senior Vice President and Principal Accounting Officer Director - Home Equity Lending /s/ Donald Coombe /s/ Bert Nixon - ---------------------------- ------------------------------- Donald Coombe Bert Nixon Vice President National Vice President Administrative Loan Servicing - TMSIC TMS Auto Finance Inc. 3301 "C" Street, Sacramento, CA 95816 (916) 446-5000, FAX (916) 554-8938 -----END PRIVACY-ENHANCED MESSAGE-----