-----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, OZhyg6yQVXsxdbcAV70gehPrvlGnTgcJSQDxn1kjg87gzFSCTyEkZRbvY8lRQk39 aVFufAr+bTt80JKOHvKE7g== 0000809940-97-000018.txt : 19970327 0000809940-97-000018.hdr.sgml : 19970327 ACCESSION NUMBER: 0000809940-97-000018 CONFORMED SUBMISSION TYPE: 10-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 19961227 FILED AS OF DATE: 19970326 SROS: NONE FILER: COMPANY DATA: COMPANY CONFORMED NAME: MERRILL LYNCH MORTGAGE INVESTORS INC CENTRAL INDEX KEY: 0000809940 STANDARD INDUSTRIAL CLASSIFICATION: ASSET-BACKED SECURITIES [6189] IRS NUMBER: 133416059 STATE OF INCORPORATION: DE FISCAL YEAR END: 1228 FILING VALUES: FORM TYPE: 10-K SEC ACT: 1934 Act SEC FILE NUMBER: 333-01704 FILM NUMBER: 97563479 BUSINESS ADDRESS: STREET 1: WORLD FINANCIAL CENTER STREET 2: N TOWER 250 VESEY ST 15TH FL CITY: NEW YORK STATE: NY ZIP: 10281-1315 BUSINESS PHONE: 2124490336 MAIL ADDRESS: STREET 1: WORLD FINANCIAL CENTER STREET 2: 250 VESSEY STREET 17TH FLOOR CITY: NEW YORK STATE: NY ZIP: 10281-1317 10-K 1 FORM 10-K UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K (Mark One) [x] ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the year ended December 27, 1996 ------------------ [ ] TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ______________ to ________________ Commission File Numbers: 333-7569, 333-1704 MERRILL LYNCH MORTGAGE INVESTORS, INC. ------------------------------------------------------------ (Exact name of registrant as specified in its charter) Delaware 13-3416059 - --------------------------------- ------------------- (State or other jurisdiction (IRS Employer of incorporation or organization Identification No.) World Financial Center North Tower 250 Vesey Street - 23rd Flr New York, New York 10281-1323 (Address of principal executive offices) (Zip Code) Registrant's telephone number, including area code:(212) 449-0336 Securities registered pursuant to Section 12(b) of the Act: None Securities registered pursuant to Section 12(g) of the Act: None 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 12 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: [x] Yes [ ] 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 definite 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] None of the Registrant's outstanding common stock is owned by non- affiliates. This report on Form 10-K is filed pursuant to the letters dated July 9, 1987, May 14, 1993, and July 31, 1994 to the Registrant from the Office of Chief Counsel, Division of Corporate Finance, Securities and Exchange Commission. TABLE OF CONTENTS PART I Item 1. Business Item 2. Properties Item 3. Legal Proceedings Item 4. Submission of Matters to a Vote of Security Holders PART II Item 5. Market for Registrant's Common Stock and Related Stockholder Matters Item 6. Selected Financial Data Item 7. Management's Discussion and Analysis of Financial Condition and Results of Operations Item 8. Financial Statements and Supplementary Data Item 9. Changes in and Disagreements with Accountants on Accounting and Financial Disclosure PART III Item 10. Directors and Executive Officers of the Registrant Item 11. Executive Compensation Item 12. Security Ownership of Certain Beneficial Owners and Management Item 13. Certain Relationships and Related Transactions PART IV Item 14 Exhibits, Financial Statement Schedules, and Reports on Form 8-K Signatures PART I ITEM 1. BUSINESS Not Applicable. ITEM 2. PROPERTIES Residential Mortgage Pass-Through Certificates: The series of residential mortgage pass-through certificates (as hereinafter defined in Item 5(b)), do not own any physical property. Title to real estate will only be acquired upon default of the mortgagors under the mortgage loans. Commercial Mortgage Pass-Through Certificates: For Mortgage Pass-Through Certificates, Series 1994- M1, information regarding the mortgaged properties securing the mortgage loans is set forth in the Prospectus Supplement. Title to real estate will only be acquired upon default of the mortgagors under the mortgage loans. ITEM 3. LEGAL PROCEEDINGS There are no material pending legal proceedings that involve any Series of Certificates, the Trustee, the Master Servicer or the Registrant with respect to any Series of Certificates nor is the Registrant aware of any proceedings known to be contemplated by governmental authorities. ITEM 4. SUBMISSION OF MATTERS TO A VOTE OF SECURITY HOLDERS There have been no matters submitted to a vote of certificate holders. PART II ITEM 5. MARKET FOR REGISTRANTS COMMON EQUITY AND RELATED STOCKHOLDER MATTERS (a) There is no established public trading market for the Certificates representing interests in conventional mortgage loans, commercial mortgage loans, or manufactured housing contract pools established by the Registrant. (b) At December 27, 1996, the number of holders of record for certificates issued during 1996 was as follows:
Number of Record Holders -------------- Residential Mortgage Pass-Through Certificates ---------------------------------------------- Mortgage Loan Asset Backed Certificates, Series 1996-1 6 Home Equity Loan Asset Backed Certificates, Series 1996-2 12 Commercial Pass-Through Certificates ------------------------------------ Mortgage Pass-Through Certificates, Series 1996-C1 44 Mortgage Pass-Through Certificates, Series 1996-C2 77
(c) Not Applicable. ITEM 6. SELECTED FINANCIAL DATA Not Applicable. ITEM 7. MANAGEMENT DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS Not Applicable ITEM 8. FINANCIAL STATEMENTS AND SUPPLEMENTARY DATA Not Applicable 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 Not Applicable ITEM 11. EXECUTIVE COMPENSATION Not Applicable ITEM 12 SECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT (for each Series issued during 1996)
Original Face Amount of % of Certificates Certificates ------------- ------------ (in $ thousands) MORTGAGE LOAN ASSET BACKED CERTIFICATES, SERIES 1996-1 (ALL C/O DTC) ------------------------------------------ Chase Manhattan/Chemical Bank 45,000 56% Republic Natl Bank of N.Y. 10,000 12% First National Bank of Chicago 6,000 7% Merrill Lynch - Debt Securities 12,630 16% Merrill Lynch PFS 7,500 9% HOME EQUITY LOAN ASSET BACKED CERTIFICATES, SERIES 1996-2 (ALL C/O DTC) ------------------------------------------ Swiss American Securities, Inc. 50,000 7% Bank of New York 83,102 12% Chase Manhattan/Chemical Bank 159,000 22% SSB - Custodian 215,000 30% First National Bank of Chicago 38,291 5% Northern Trust Company 120,350 17% MORTGAGE PASS-THROUGH CERTIFICATES, SERIES 1996-C1 (ALL C/O DTC) ------------------------------------------ Bank of New York 27,801 5% Chase Manhattan/Chemical Bank 167,725 31% Bankers Trust Company 51,849 9% Boston Safe Deposit & Trust 51,120 9% SSB - Custodian 100,383 18% Corestates Bank 31,950 6% MORTGAGE PASS-THROUGH CERTIFICATES, SERIES 1996-C2 (ALL C/O DTC) ------------------------------------------ Bank of New York 248,465 10% Chase Manhattan/Chemical Bank 543,021 21% Bankers Trust Company 315,047 12% Citicorp 407,629 16% Boston Safe Deposit & Trust 145,517 6% SSB - Custodian 233,414 9% Merrill Lynch 133,834 5%
ITEM 13. CERTAIN RELATIONSHIPS AND RELATED TRANSACTIONS (a) Not Applicable PART IV ITEM 14. EXHIBITS, FINANCIAL STATEMENT SCHEDULES, AND REPORTS ON FORM 8-K (a) Pass-Through Certificates - Annual Statements of Compliance ("the Certification"): Reports on each Series of Certificates issued in 1996 will be filed on a Form 8-K when available. The dates on which the Certifications are due from the servicers are as follows: Mortgage Loan Asset Backed Certificates, Series 1996-1 March 31, 1997 Home Equity Loan Asset Backed Certificates, Series 1996-2 April 30, 1997 Mortgage Pass-Through Certificates, Series 1996-C1 April 30, 1997 Mortgage Pass-Through Certificates, Series 1996-C2 April 30, 1997 (b) Reports on Form 8-K have been filed through December 1996. Form 15 for each Series of Certificates was filed in January 1997. (c) Not Applicable (d) Not Applicable 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, thereunto duly authorized. MERRILL LYNCH MORTGAGE INVESTORS, INC. By: /s/ Richard M. Fuscone Name: Richard M. Fuscone Title: President and Chairman of the Board Dated: March 25, 1997 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, thereunto duly authorized. By: /s/ John C. Qua Name John C. Qua Title: Treasurer and Director Dated: March 25, 1997 By: /s/ Michael M. McGovern Name: Michael M. McGovern Title: Secretary and Director Dated: March 25, 1997 EXHIBIT INDEX EXHIBIT 27 FINANCIAL DATA SCHEDULE EX-27 2
BD 0000809940 MERRILL LYNCH MORTGAGE INVESTORS,INC. YEAR DEC-27-1996 DEC-27-1996 10000 15088528 0 0 0 0 15098528 0 0 0 0 0 0 0 0 10000 15088528 15098528 0 0 0 0 0 0 0 0 0 0 0 0 0 0
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