--------------------------------------------------------------------------------
ContiMortgage Corporation
Home Equity Loan Pass-Through Certificates
Series 1997-1
--------------------------------------------------------------------------------
CERTIFICATE HOLDER'S REPORT
ANNUAL STATEMENT
Year Ending: December 31, 1997
---------------------------------------------------------------------------------------------------------------------------
Original Beginning Ending
Certificate Certificate Principal Interest Total Certificate
CUSIP Class Face Value Balance Distribution Distribution Distribution Balance
---------------------------------------------------------------------------------------------------------------------------
00000XXX0 A-1 50,750,000.00 50,750,000.00 50,750,000.00 1,270,938.63 52,020,938.63 0.00
00000XXX0 A-2 57,500,000.00 57,500,000.00 28,455,703.24 3,009,969.04 31,465,672.28 29,044,296.76
00000XXX0 A-3 84,500,000.00 84,500,000.00 0.00 4,760,730.00 4,760,730.00 84,500,000.00
00000XXX0 A-4 37,250,000.00 37,250,000.00 0.00 2,163,438.58 2,163,438.58 37,250,000.00
00000XXX0 A-5 28,250,000.00 28,250,000.00 0.00 1,697,220.79 1,697,220.79 28,250,000.00
00000XXX0 A-6 20,000,000.00 20,000,000.00 0.00 1,227,655.59 1,227,655.59 20,000,000.00
00000XXX0 A-7 24,250,000.00 24,250,000.00 0.00 1,543,350.83 1,543,350.83 24,250,000.00
00000XXX0 A-8 21,500,000.00 21,500,000.00 0.00 1,424,410.83 1,424,410.83 21,500,000.00
00000XXX0 A-9 30,000,000.00 30,000,000.00 0.00 1,838,875.00 1,838,875.00 30,000,000.00
00000XXX0 M-1 18,000,000.00 18,000,000.00 0.00 1,161,230.00 1,161,230.00 18,000,000.00
00000XXX0 M-2 23,000,000.00 23,000,000.00 0.00 1,533,786.91 1,533,786.91 23,000,000.00
00000XXX0 B 5,000,000.00 5,000,000.00 0.00 344,300.00 344,300.00 5,000,000.00
00000X0X0 C 0.00 0.00 0.00 5,768,845.44 5,768,845.44 0.00
R 0.00 0.00 0.00 91,415.84 91,415.84 0.00
-------------------------------------------------------------------------------------------------------
Total 400,000,000.00 400,000,000.00 79,205,703.24 27,836,167.48 107,041,870.72 320,794,296.76
-------------------------------------------------------------------------------------------------------
----------------------------------------------------------------------------------------------------------
Notional Notional Principal Interest Total Notional
Class Amount Amount Distribution Distribution Distribution Amount
---------------------------------------------------------------------------------------------------------------------------
00000XXX0 A-10 400,001,834.97 400,001,834.97 0.00 3,567,702.32 3,567,702.32 324,794,296.76
---------------------------------------------------------------------------------------------------------------------------
-----------------------------------------------------------------------------------------------------------------
AMOUNTS PER $1,000 UNIT PASS THROUGH RATES
----------------------------------------------------------------------------------------------------------------------------------
Ending
Principal Interest Total Certificate Original Pass Current Pass
Class Distribution Distribution Distribution Balance Class Thru Rate Thru Rate
----------------------------------------------------------------------------------------------------------------------------------
00000XXX0 A-1 1,000.00000000 25.04312571 1,025.04312571 0.00000000 A-1 6.25000% 6.25000%
00000XXX0 A-2 494.88179548 52.34728765 547.22908313 505.11820452 A-2 6.31000% 6.31000%
00000XXX0 A-3 0.00000000 56.34000000 56.34000000 1,000.00000000 A-3 6.48000% 6.48000%
00000XXX0 A-4 0.00000000 58.07888805 58.07888805 1,000.00000000 A-4 6.68000% 6.68000%
00000XXX0 A-5 0.00000000 60.07861204 60.07861204 1,000.00000000 A-5 6.91000% 6.91000%
00000XXX0 A-6 0.00000000 61.38277950 61.38277950 1,000.00000000 A-6 7.06000% 7.06000%
00000XXX0 A-7 0.00000000 63.64333320 63.64333320 1,000.00000000 A-7 7.32000% 7.32000%
00000XXX0 A-8 0.00000000 66.25166651 66.25166651 1,000.00000000 A-8 7.62000% 7.62000%
00000XXX0 A-9 0.00000000 61.29583333 61.29583333 1,000.00000000 A-9 7.05000% 7.05000%
00000XXX0 M-1 0.00000000 64.51277778 64.51277778 1,000.00000000 A-10IO 1.10000% 1.10000%
00000XXX0 M-2 0.00000000 66.68638739 66.68638739 1,000.00000000 M-1 7.42000% 7.42000%
00000XXX0 B 0.00000000 68.86000000 68.86000000 1,000.00000000 M-2 7.67000% 7.67000%
B 7.92000% 7.92000%
----------------------------------------------------------------------------------------------------------------------------------
Total 198.01425810 54.93976550 252.95402360 801.98574190
---------------------------------------------------------------------------
------------------------------------------------------------------------------
Ending
Principal Interest Total Notional
Class Distribution Distribution Distribution Amount
-----------------------------------------------------------------------------------------------
00000XXX0 A-10IO 0.00000000 8.91921488 8.91921488 811.982016993396
-----------------------------------------------------------------------------------------------
PLEASE DIRECT ANY QUESTIONS OR COMMENTS TO THE FOLLOWING ADMINISTRATOR:
Xxxx Xxxxxx
M & T Corporate Trust Department
Xxx X & X Xxxxx-0xx Xxxxx
Xxxxxxx, XX 00000
--------------------------------------------------------------------------------
ContiMortgage Corporation
Home Equity Loan Pass-Through Certificates
Series 1997-1
--------------------------------------------------------------------------------
CERTIFICATE HOLDER'S REPORT
ANNUAL STATEMENT
Year Ending: December 31, 1997
Page 1
---------------------------------------------------------------------------------------------------------------
Total Principal Scheduled Overcollateralization
Distribution Principal Prepayments Liquidations Inc/(Red) Total
---------------------------------------------------------------------------------------------------------------
SEC.7.09(a)(ii) Class A-1 2,212,132.30 43,608,755.64 805,145.34 4,123,966.72 50,750,000.00
Per $1000 Unit 43.58881379 859.28582542 15.86493281 81.26042798 1,000.00000000
---------------------------------------------------------------------------------------------------------------
Class A-2 495,064.83 27,103,913.47 666,419.57 190,305.37 28,455,703.24
Per $1000 Unit 8.60982313 471.37240817 11.58990557 3.30965861 494.88179548
---------------------------------------------------------------------------------------------------------------
Class A-3 0.00 0.00 0.00 0.00 0.00
Per $1000 Unit 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000
---------------------------------------------------------------------------------------------------------------
Class A-4 0.00 0.00 0.00 0.00 0.00
Per $1000 Unit 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000
---------------------------------------------------------------------------------------------------------------
Class A-5 0.00 0.00 0.00 0.00 0.00
Per $1000 Unit 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000
---------------------------------------------------------------------------------------------------------------
Class A-6 0.00 0.00 0.00 0.00 0.00
Per $1000 Unit 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000
---------------------------------------------------------------------------------------------------------------
Class A-7 0.00 0.00 0.00 0.00 0.00
Per $1000 Unit 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000
---------------------------------------------------------------------------------------------------------------
Class A-8 0.00 0.00 0.00 0.00 0.00
Per $1000 Unit 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000
---------------------------------------------------------------------------------------------------------------
Class A-9 0.00 0.00 0.00 0.00 0.00
Per $1000 Unit 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000
---------------------------------------------------------------------------------------------------------------
Class M-1 0.00 0.00 0.00 0.00 0.00
Per $1000 Unit 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000
---------------------------------------------------------------------------------------------------------------
Class M-2 0.00 0.00 0.00 0.00 0.00
Per $1000 Unit 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000
---------------------------------------------------------------------------------------------------------------
Class B 0.00 0.00 0.00 0.00 0.00
Per $1000 Unit 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000
===============================================================================================================
Total 2,707,197.13 70,712,669.11 1,471,564.91 4,314,272.09 79,205,703.24
Per $1000 Unit 6.76799283 176.78167278 3.67891228 10.78568023 198.01425810
---------------------------------------------------------------------------------------------------------------
SEC.7.09(a)(iv) Total Certificate Interest Carry-Forward Amount 0.00
Class A-1 Interest Carry-Forward Amount 0.00
Class A-2 Interest Carry-Forward Amount 0.00
Class A-3 Interest Carry-Forward Amount 0.00
Class A-4 Interest Carry-Forward Amount 0.00
Class A-5 Interest Carry-Forward Amount 0.00
Class A-6 Interest Carry-Forward Amount 0.00
Class A-7 Interest Carry-Forward Amount 0.00
Class A-8 Interest Carry-Forward Amount 0.00
Class A-9 Interest Carry-Forward Amount 0.00
Class A-10IO Interest Carry-Forward Amount 0.00
Class M-1 Interest Carry-Forward Amount 0.00
Class M-2 Interest Carry-Forward Amount 0.00
Class B Interest Carry-Forward Amount 0.00
SEC.7.09(a)(vi) Outstanding Loan Balance: 324,794,296.76
SEC.7.09(a)(vii) Code Section 6049(d)(7)(C) Information-Required Market Discount Information Provided at Calendar Year End.
SEC.7.09(a)(viii) Loan Purchase Prices \ Substitution Amounts 411,026.07 0.00
SEC.7.09(a)(ix) Weighted Average Coupon 11.4820%
SEC.7.09(a)(x) Trigger Event Occurrence NO
SEC.7.09(a)(xi) Extra Principal Distribution Amount 4,314,272.09
SEC.7.09(a)(xii) Senior Enhancement Percentage 15.3944%
SEC.7.09(a)(xiii) Overcollateralization Amount 4,000,000.00
SEC.7.09(a)(xiv) Applied Realized Realized Loss Unpaid Realized
Loss Amount Amortization Amount Loss Amount
----------- ------------------- ------------
Class M-1 0.00 0.00 0.00
Class M-2 0.00 0.00 0.00
Class B 0.00 0.00 0.00
---------------------------------------------------------------------------
SEC.7.09(b)(i) Delinquencies(1) Period Number Percentage Prin. Balance Percentage
----------------------------------------------------------------------------------------------
30-59 Days 264 4.93827% 15,891,062.18 4.89265%
Pool 60-89 Days 91 1.70221% 5,605,155.51 1.72576%
90+ Days 330 6.17284% 20,408,206.68 6.28343%
----------------------------------------------------------------------------------------------
Total 5346 100.00000% 324,794,296.76 100.00000%
--------------------------------------------------------------------------
(1) Includes Bankruptcies, Foreclosures and REOs
Number Balance
SEC.7.09(b)(ii) Loans in Foreclosure (LIF): 176 11,045,273.56
Newly Commenced LIF: 14 991,701.49
SEC.7.09(b)(iii)(a) Loans in Bankruptcy 83 4,758,452.12
SEC.7.09(b)(iii)(b) Balloon Loans 3209 227,908,993.78
SEC.7.09(b)(iv&v) REO Properties 13 1,195,560.59
SEC.7.09(b)(vi) Cumulative Losses 426,398.48
SEC.7.09(b)(vii) Loan Balance of 60+ Day Delinquent Loans 26,013,362.19
--------------------------------------------------------------------------------
ContiMortgage Corporation
Home Equity Loan Pass-Through Certificates
Series 1997-1
--------------------------------------------------------------------------------
CERTIFICATE HOLDER'S REPORT
ANNUAL STATEMENT
Year Ending: December 31, 1997
Page 2
SEC.7.08(a)(1) Amount on Deposit in the Certificate Account 110,630,430.27
SEC.7.08(a)(2)(3) Amount Due Amount Paid
-------------- -------------
Class A-1 Allocation 52,020,938.63 52,020,938.63
Class A-2 Allocation 31,465,672.28 31,465,672.28
Class A-3 Allocation 4,760,730.00 4,760,730.00
Class A-4 Allocation 2,163,438.58 2,163,438.58
Class A-5 Allocation 1,697,220.79 1,697,220.79
Class A-6 Allocation 1,227,655.59 1,227,655.59
Class A-7 Allocation 1,543,350.83 1,543,350.83
Class A-8 Allocation 1,424,410.83 1,424,410.83
Class A-9 Allocation 1,838,875.00 1,838,875.00
Class A-10IO Allocation 3,567,702.32 3,567,702.32
-------------------------------------------
Class A Distribution Amount 101,709,994.85 101,709,994.85
===========================================
Class M-1 Allocation 1,161,230.00 1,161,230.00
Class M-2 Allocation 1,533,786.91 1,533,786.91
Class B Allocation 344,300.00 344,300.00
SEC.7.08(a)(4) Beginning Principal Ending
Class Balance * Distribution Balance *
-----------------------------------------------------------------
A-1 50,750,000.00 50,750,000.00 0.00
A-2 57,500,000.00 28,455,703.24 29,044,296.76
A-3 84,500,000.00 0.00 84,500,000.00
A-4 37,250,000.00 0.00 37,250,000.00
A-5 28,250,000.00 0.00 28,250,000.00
A-6 20,000,000.00 0.00 20,000,000.00
A-7 24,250,000.00 0.00 24,250,000.00
A-8 21,500,000.00 0.00 21,500,000.00
A-9 30,000,000.00 0.00 30,000,000.00
A-10IO 400,001,834.97 NA 324,794,296.76
M-1 18,000,000.00 0.00 18,000,000.00
M-2 23,000,000.00 0.00 23,000,000.00
B 5,000,000.00 0.00 5,000,000.00
* Denotes Notional Amounts for Class A-10IO.
SEC.7.08(a)(5) Current Period Realized Losses (Recoveries) 426,398.48
SEC.7.08(a)(6) Loan Balance of 60+ Day Delinquent Loans 26,013,362.19
--------------------------------------------------------------------------------
ContiMortgage Corporation
Home Equity Loan Pass-Through Certificates
Series 1997-1
--------------------------------------------------------------------------------
CERTIFICATE HOLDER'S REPORT
ANNUAL STATEMENT
Year Ending: December 31, 1997
Page 3
REO Status
SEC.7.09(b)(iv&v) Loan Number Book Value Status
13412945 618,955.72
11024390 444,304.72
11281360 460,922.61
11612482 224,961.44
11955029 227,927.73
8865879 179,467.40
8877416 145,059.48
8991329 144,728.03
9267426 186,379.40
9282817 214,124.34
9326373 754,500.00
9528374 317,314.13
9602935 122,110.45
2920999 $76,359.98
2933596 $32,379.22
2937944 $43,500.00
2939676 $80,500.00
3088739 $35,959.76
3088929 $57,013.73
3094448 $46,383.83
3095643 $45,960.02
3103082 $64,738.90
3107281 $116,744.92
3146487 $41,000.00
3216785 $132,227.21
3273349 $55,984.67
3274768 $73,724.79
3274990 $19,250.00
3277431 $35,250.00
3277480 $85,495.80
3279148 $43,976.52
3280237 $206,250.00
3284841 $77,922.25
3324639 $118,671.75
3327228 $57,716.48
3337060 $25,944.05
3785755 $26,619.57
3789864 $59,930.15
