-----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, Cd8dx5SHaR06/tLyEVFMj2JrhyOuaoXY2LSfWfsaRVCJsTGon97cT2d2iy/kft33 BFkuWZUG1VaO454mixWFdg== 0000950123-97-010566.txt : 19971224 0000950123-97-010566.hdr.sgml : 19971224 ACCESSION NUMBER: 0000950123-97-010566 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 19971215 ITEM INFORMATION: FILED AS OF DATE: 19971223 SROS: NONE FILER: COMPANY DATA: COMPANY CONFORMED NAME: MLCC MORT INV INC MORT LOAN ASST BK PASS THRU CERT SE 1997-A CENTRAL INDEX KEY: 0001036298 STANDARD INDUSTRIAL CLASSIFICATION: ASSET-BACKED SECURITIES [6189] IRS NUMBER: 593247986 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: SEC FILE NUMBER: 333-14253-01 FILM NUMBER: 97742880 BUSINESS ADDRESS: STREET 1: 4802 DEER LAKE DR E CITY: JACKSONVILLE STATE: FL ZIP: 32246-6484 BUSINESS PHONE: 9049286000 MAIL ADDRESS: STREET 1: 4802 DEER LAKE DRIVE EAST STREET 2: C/O MERRILL LYNCH CREDIT CORP CITY: JACKSONVILLE STATE: FL ZIP: 32246-6484 8-K 1 MLCC MORTGAGE INVESTORS, INC. 1 This document contains 6 pages. The Exhibit Index is located on page 4. ------------------------------------------------------------------ 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) December 15, 1997 Mortgage Loan Asset Backed Pass-Through Certificates Trust 1997-B (Name of Trust issuing Mortgage Loan Asset Backed Pass-Through Certificates, Series 1997-B, Class A) MLCC Mortgage Investors, Inc. (Exact name of registrant as specified in its charter) Delaware 333-14253 59-3247986 (State or Other Jurisdiction (Commission (I.R.S. Employer of Incorporation) File Number) Identification No.) MLCC Mortgage Investors, Inc. 4802 Deer Lake Drive East Jacksonville, Florida 32246-6484 Attention: General Counsel (Address of Principal Executive Offices and Zip Code) Registrant's telephone number, including area code (904) 928-6000 ------------------------------------------------------------------ 2 Item 7. Financial Statements and Exhibits. (c) Exhibits. The following is filed herewith. The exhibit number corresponds with Item 601(b) of Regulation S-K. Exhibit No. Description 19.1 Statement to Certificateholders for Mortgage Loan Asset Backed Pass-Through Certificates, Series 1997-B, for December 15, 1997 distribution pursuant to Section 6.02 of the Pooling and Servicing Agreement among Merrill Lynch Credit Corporation, as Master Servicer, MLCC Mortgage Investors, Inc., as Company, and Bankers Trust Company of California, N.A., as Trustee, dated as of November 1, 1997. 2 3 SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, Merrill Lynch Credit Corporation, as Master Servicer and on behalf of the registrant, has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. MERRILL LYNCH CREDIT CORPORATION, as Master Servicer and on behalf of MLCC MORTGAGE INVESTORS, INC. By: /s/ Steven T. Hardy ------------------------------------- Name: Steven T. Hardy Title: Vice President and Controller Dated: 12/15/97 ----------------- 3 4 Exhibit Index Exhibit No. Page 19.1 Statement to Certificateholders for Mortgage Loan Asset Backed Pass-Through Certificates, Series 1997-B 5 4 EX-19.1 2 STATEMENT TO CERTIFICATEHOLDERS 1 SERVICING CERTIFICATE PAGE 5 - --------------------------------------------------------------------------------
MLCC Mortgage Investors, Inc. Senior/Subordinate Mortgage Pass-Through Current Collection Period: 01-Nov-97 to 30-Nov-97 Certificates, Series 1997B P & S Agreement Date: 01-Nov-97
PASS-THROUGH RATES CURRENT DISTRIBUTION: Current ----------- Class A Certificates, Series 1997B LIBOR + 0.28% 6.24875% Original Closing Date: 12/9/97 18-Nov-97 Class B Certificates, Series 1997B Alternate Rate 7.21488% Distribution Date: 15-Dec-97 Days in Accrual Period 28 17-Nov-97 14-Dec-97
Weighted Avg Mtg Rate (WAC) 7.54595% LIBOR 5.96875% Weighted Avg Net Mtg Rate (Alt. Rate) 7.21488%
- ------------------------------------------------------------------------------------------------------------------------------------ 1 Beginning Pool Principal Balance 312,781,441.00 2 Beginning Pool Balance Factor 95.116757% - ------------------------------------------------------------------------------------------------------------------------------------ 3 Beginning Class A Principal Balance 308,089,000.00 4 Beginning Class B Principal Balance 4,692,441.00 - ------------------------------------------------------------------------------------------------------------------------------------ 5 Aggregate of all Monthly Principal Payments (P&S 5.08i ) 0.00 6 Aggregate of all Principal Prepayments Received (P&S 5.08i ) 1,073,705.31 7 Aggregate of any Net Liquidation Proceeds Received (P&S 5.08iii) 0.00 8 Aggregate of any Insurance Proceeds Received (P&S 5.08iv ) 0.00 9 Aggregate of any Awards or Settlements From Condemnation Proceedings (P&S 5.08v ) 0.00 10 Aggregate of any Proceeds From Repurchased Mortgage Loans (P&S 5.08vi ) 0.00 11 Aggregate of any Revenues From Fidelity Bond or Mortgage Interest Insurance Policy (P&S 5.08vii) 0.00 12 Aggregate of any Revenues From Foreclosure or Deed Net of any Advances (P&S 5.08viii) 0.00 13 Current Principal Advances 0.00 14 Current Servicer Principal Reimbursements 0.00 15 Total Principal Available For Distribution (5+6+7+8+9+10+11+12+13-14) 1,073,705.31 16 Unrecovered Principal Amounts (Liquidation Loss) 0.00 17 Aggregate of all Interest Payments Received (P&S 5.08ii ) 688,388.41 17a Prefunding Account Interest Earned (P&S 5.14b ) 54,703.45 17b Accrued Interest at Cl A pass-through rate x Pre-funded Amount for 22 days (1st dist only) (P&S 6.01a ) 286,401.04 18 Current Servicing Fee (P&S 5.08ii ) 3,715.19 19 Monthly Interest Advance (Recovery) based on Delinquent Accounts (P&S 6.02v ) 806,850.64 19 Current Servicer Interest Advance (Recovery) 806,850.64 20 Scheduled Formula Principal Distribution Amount (5+13-14) 0.00 21 Unscheduled Formula Principal Distribution Amount (6+7+8+9+10+11+12) 1,073,705.31 22 Total Interest Available For Distribution (17+17a+17b-18+19i) 1,832,628.35 23 Total Funds Available For Distribution (15+22) 2,906,333.66 - ------------------------------------------------------------------------------------------------------------------------------------ 24 Formula Principal Distribution Amount (Lines 20 + 21) 1,073,705.31 - ------------------------------------------------------------------------------------------------------------------------------------ WATERFALL 25 i. Class A Percentage (Beg. Class A prin bal / Beg. pool prin bal.) (P&S 6.02i ) 98.50% ii. Class A Percentage x Scheduled Formula Principal Distribution Amount (Line 20) 0.00 iii. Class A Prepayment Percentage 100.00% iv. Class A Prepayment Percentage x Unscheduled Formula Principal Distribution Amount 1,073,705.31 v. Class A Total Distribution Allocable to Principal 2 1,073,705.31 vi. Class A Recovered Principal Amount 0.00 vii Class A Unrecovered Principal Amount 6 0.00 26 i. Class A Total Distribution Allocable to Interest (min of: 26ii. or 23) 1 (P&S 6.02ii ) 1,497,355.33 ii. Class A Interest Formula Distribution Amount (26iii. + 26iv.) (P&S 6.02ii ) 1,497,355.33 iii. Class A Current Interest (pass-through rate x A's upb) (P&S 6.02ii ) 1,497,355.33 iv. Class A Unpaid Interest Shortfall (Class A's interest s/f from preceding distribution date) (P&S 6.02iii) 0.00 v. Class A Unpaid Interest Shortfall (Class A's interest s/f from preceding distribution date) (P&S 6.02iii) 0.00 vi. Class A Unpaid Interest Shortfall included in 26i. (when 26iii. greater than 0: min of 26i. and 26iv.) (P&S 6.02iii) 0.00 vii. Class A Interest Shortfall (26ii. - 26i.) (P&S 6.02iii) 0.00 - ------------------------------------------------------------------------------------------------------------------------------------ 27 i. Current Certificate Insurance Premium 3 20,852.10 ii. Reimbursement Amount 4 (P&S 6.02vi ) 0.00 iii. Redirection of Certificate Insurance 10,000.00 iv. Total Amount to Certificate Insurer 10,852.10 - ------------------------------------------------------------------------------------------------------------------------------------ 28 i Subordinated Percentage (P&S 6.02i ) 1.50% ii Subordinated Percentage of Scheduled Formula Principal Distribution Amount 0.00 iii. Subordinated Prepayment Percentage 0.00% iv. Subordinated Prepayment Percentage of Unscheduled Formula Principal Distribution Amount 0.00 v. Class B Total Distribution Allocable to Principal 8 0.00 vi. Class B Recovered Loss Amount 9 0.00 vii. Class B Unrecovered Loss Amount 0.00 29 i Class B Total Distribution Allocable to Interest 5 (P&S 6.02ii ) 26,331.98 ii. Class B Interest Formula Distribution Amount (29iii. + 29iv.) (P&S 6.02ii ) 26,331.98 iii. Class B Current Interest (pass-through rate x B's upb) (P&S 6.02iii) 26,331.98 iv. Class B Unpaid Interest Shortfall (Class B's interest s/f from preceding distribution date) (P&S 6.02iii) 0.00 v. Class B Interest on Unpaid Interest Shortfall 7 0.00 vi. Class B Unpaid Interest Shortfall (Class B's interest s/f from preceding distribution date) - vii. Class B Unpaid Interest Shortfall included in 26i. (when 29iii. greater than 0: min of 29i. and 29iv.) 0.00 viii.Class B Interest Shortfall (29ii. - 29i.) 0.00 - ------------------------------------------------------------------------------------------------------------------------------------ 30 i. Cumulative Master Servicer Advanced Interest (P&S 6.02v ) 806,850.64 ii. Cumulative Master Servicer Advanced Principal 0.00 - ------------------------------------------------------------------------------------------------------------------------------------ 31 i. Available Excess Interest 288,088.94 ii. Distribution Account Shortfall (P&S 6.02xvi) 0.00 iii Class C Distribution Amount For Such Distribution Date 10 288,088.94 - ------------------------------------------------------------------------------------------------------------------------------------ 32 i. Ending Pool Principal Balance (P&S 6.02vii) 311,707,735.69 ii. Ending Pool Balance Factor 94.790243% - ------------------------------------------------------------------------------------------------------------------------------------ 33 Ending Class A Principal Balance 307,015,294.69 34 Ending Class B Principal Balance 4,692,441.00 ====================================================================================================================================
2 STATEMENT TO CERTIFICATEHOLDERS PAGE 6
-------------------------------------------------------------------------------------------------------------------------------- MLCC Mortgage Investors, Inc. Senior/Subordinate Mortgage Pass-Through Certificates, Series 1997B Current Collection Period: 01-Nov-97 to 30-Nov-97 PASS-THROUGH RATES CURRENT DISTRIBUTION: LIBOR= 5.9688% Class A Certificates, Series 1997B LIBOR + 0.28% 6.24875% Original Closing Date: 18-Nov-97 Class B Certificates, Series 1997B Alternate Rate 7.21488% Distribution Date: 15-Dec-97 Weighted Avg Net Mtg Rate (Alt. Rate) 7.21488% ------------------------------------------------------------------------------------------------------------------------- 1 i. Class A Total Distribution Allocable to Principal 3.485049 ii. Class A Percentage x Scheduled Formula Principal Distribution Amount (Line 20) 0.000000 iii. Class A Prepayment Percentage x Unscheduled Formula Principal Distribution Amount 3.485049 iv Class A Recovered Principal Amount 0.000000 v Class A Unrecovered Principal Amount 0.000000 2 i. Class A Total Distribution Allocable to Interest (min of: 26ii. or 23) 4.860139 ii. Class A Unpaid Interest Shortfall (Class A's interest s/f from preceding distribution date) 4.860139 iii. Class A Unpaid Interest Shortfall included in 26i. (when 26iii. > 0: min of 26i. and 26iv.) 0.000000 iv Class A Unpaid Interest Shortfall (Class A's interest s/f from preceding distribution date) 0.000000 ------------------------------------------------------------------------------------------------------------------------- 3 i. Class B Total Distribution Allocable to Principal 0.000000 ii. Subordinated Percentage of Scheduled Formula Principal Distribution Amount 0.000000 iii. Subordinated Prepayment Percentage of Unscheduled Formula Principal Distribution Amount 0.000000 iv Class B Recovered Loss Amount 0.000000 v Class B Unrecovered Loss Amount 0.000000 4 i. Class B Total Distribution Allocable to Interest 5.611574 ii. Class B Interest Formula Distribution Amount (29iii. + 29iv.) 5.611574 iii. Class B Current Interest (pass-through rate x B's upb) 5.611574 iv Class B Unpaid Interest Shortfall (Class B's interest s/f from preceding distribution date) 0.000000 ------------------------------------------------------------------------------------------------------------------------- 5 Ending Pool Principal Balance 311,707,735.69 6 Ending Pool Balance Factor 94.790243% 7 Ending Class A Principal Balance 307,015,294.69 8 Ending Class B Principal Balance 4,692,441.00 ------------------------------------------------------------------------------------------------------------------------- 9 i. Current Master Servicer Advanced (Recovered) Interest 806,850.64 ii. Current Master Servicer Advanced (Recovered) Principal 0.00 iii. Current Trustee Advanced Interest 0.00 iv Current Trustee Advanced Principal 0.00 v Additional Servicing Compensation (P&S 6.02ix ) 0.00 vi Amount of Servicing Advances Paid by Master Servicer (P&S 6.02 x ) 0.00 vii Formula Principal Amount & Unrecovered Principal Amounts (P&S 6.02iv ) 0.00 viii Amount of Delinquencies of Mortgage Loans 3,246.25 ix CLASS A ALT. RATE FOR NEXT DISTRIBUTION DATE: 15-DEC-97 0.00000% x CLASS B ALT. RATE FOR NEXT DISTRIBUTION DATE: 15-DEC-97 0.00000% ------------------------------------------------------------------------------------------------------------------------- 10 i Number of Mortgage Loans 30 to 59 Days Delinquent 2 ii Aggregate Principal Balances of Mortgage Loans 30 to 59 Days Delinquent 531,000.00 11 i Number of Mortgage Loans 60 to 89 Days Delinquent 0 ii Aggregate Principal Balances of Mortgage Loans 60 to 89 Days Delinquent 0.00 12 i Number of Mortgage Loans 90 or More Days Delinquent 0 ii Aggregate Principal Balances of Mortgage Loans 90 or More Days Delinquent 0.00 13 i Number of Mortgage Loans in Foreclosure 0 ii Aggregate Principal Balances of Mortgage Loans in Foreclosure 0.00 14 Book Value of Real Estate Acquired Through Foreclosure or Grant of a Deed 0.00 15 Aggregate Net Liquidation Losses from Liquidated Mortgage Loans (P&S 6.02xiii) 0.00 =========================================================================================================================
-----END PRIVACY-ENHANCED MESSAGE-----