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)  September
                          18, 1996
                              
             Equicon Mortgage Loan Trust 1995-2
   (Exact name of registrant as specified in its charter)
                              
New York                               33-96500
Applied For
(State or other jurisdiction       (Commission
(IRS Employer
of incorporation or           File Number)
Identification
organization)                                     Number)


c/o Norwest Bank Minnesota
National Association
Sixth Street & Marquette Avenue
Minneapolis,  Minnesota                           55479-0069
(Address of principal executive offices)
(Zip Code)

Registrant's telephone number including area code      (612)
984-0979


             Equicon Mortgage 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 Equicon Mortgage Loan Trust 1995-2 makes monthly
remittances to security holders.  The latest remittance was
made September 18, 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 September
18, 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.

                         Equicon Mortgage 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 September 18, 1996.


EXHIBIT 21.1                       PAGE 6


Equicon Mortgage Loan Trust 1995-2
Norwest Bank Minnesota, N.A.
Contact:                           Carol Tracey
Securities Administration Services
Reporting   Month:        August 1996
Phone:                           (410) 884-2117
11000 Broken Land Parkway
Distribution Date: September 18, 1996
InvestorDirect:                  (800) 605-4167
Columbia, MD 21044-7800


Series Structure Summary - Issuing


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
35,000,000.00       6.45000000%               0.00
0.00               0.00   0.6519218806
A-2      Senior         Sequential Pay   Fixed
21,000,000.00       6.50000000%               0.00
0.00               0.00   1.0000000000
A-3      Senior         Sequential Pay   Fixed
10,000,000.00       6.75000000%               0.00
0.00               0.00   1.0000000000
A-4      Senior         Sequential Pay   Fixed
8,000,000.00       7.10000000%               0.00
0.00               0.00   1.0000000000
A-5      Senior         Sequential Pay   Fixed
5,287,000.00       7.40000000%               0.00
0.00               0.00   1.0000000000
A-6      Senior         Sequential Pay   Variable
39,667,000.00       5.83750000%               0.00
0.00               0.00   0.7409244455
B Fixed  Subordinate    Sequential Pay   Variable
567.57     395.17686300%             567.29
0.00               0.00
B Vari   Subordinate    Sequential Pay   Variable
142.78      45.38852700%              26.01
0.00               0.00
RU       Residual       Residual         Residual
0.00       0.00000000%               0.00               0.00
0.00   0.0000000000
____________________________________________________________
____________________________________________________________
_______________________________________________
Totals
118,954,710.35                               593.30
0.00               0.00   0.8324632540


Report  1
   09/17/96 -- 11:27am
Page  1 of  1
EXHIBIT 21.1                       PAGE 7

                                                     Equicon
Mortgage Loan Trust 1995-2
Norwest Bank Minnesota, N.A.
Contact:                           Carol Tracey
Securities Administration Services
Reporting   Month:        August 1996                Phone:
(410) 884-2117
11000 Broken Land Parkway
Distribution Date: September 18, 1996
InvestorDirect:                  (800) 605-4167
Columbia, MD 21044-7800

                                                    Class
Distribution Summary - Issuing


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        09/01/1996          6.45000000%
24,764,253.87         133,107.86       1,946,988.05
0.00      22,817,265.82       2,080,095.91
A-2        09/01/1996          6.50000000%
21,000,000.00         113,750.00               0.00
0.00      21,000,000.00         113,750.00
A-3        09/01/1996          6.75000000%
10,000,000.00          56,250.00               0.00
0.00      10,000,000.00          56,250.00
A-4        09/01/1996          7.10000000%
8,000,000.00          47,333.33               0.00
0.00       8,000,000.00          47,333.33
A-5        09/01/1996          7.40000000%
5,287,000.00          32,603.17               0.00
0.00       5,287,000.00          32,603.17
A-6        08/30/1996          5.83750000%
31,281,663.35         152,172.26       1,891,413.37
0.00      29,390,249.98       2,043,585.63
B Fixed    09/01/1996        395.17686300%
1,008,723.58               0.00               0.00
0.97       1,340,909.46               0.00
B Vari     08/30/1996         45.38852700%
1,190,000.00          45,010.29               0.00
0.00       1,190,000.00          45,010.29
RU         08/30/1996          0.00000000%
0.00               0.00               0.00
0.00               0.00               0.00
____________________________________________________________
____________________________________________________________
____________________________________
Totals
102,531,640.80         580,226.91       3,838,401.42
0.97      99,025,425.26       4,418,628.33




Report  2
   09/17/96 -- 11:27am
Page  1 of  1
EXHIBIT 21.1                       PAGE 8

                                                 Equicon
Mortgage Loan Trust 1995-2
Norwest Bank Minnesota, N.A.
Contact:                           Carol Tracey
Securities Administration Services              Reporting
Month:        August 1996             Phone:
(410) 884-2117
11000 Broken Land Parkway                       Distribution
Date: September 18, 1996             InvestorDirect:
(800) 605-4167
Columbia, MD 21044-7800

                                     Class Distribution Per
1,000 of Original Balance - Issuing


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              294419AU0              35,000,000.00
3.80308171      2.34273771     43.79443943     55.62823000
0.00000000    0.6519218806
A-2              294419AV8              21,000,000.00
5.41666667      0.00000000      0.00000000      0.00000000
0.00000000    1.0000000000
A-3              294419AW6              10,000,000.00
5.62500000      0.00000000      0.00000000      0.00000000
0.00000000    1.0000000000
A-4              294419AX4               8,000,000.00
5.91666625      0.00000000      0.00000000      0.00000000
0.00000000    1.0000000000
A-5              294419AY2               5,287,000.00
6.16666730      0.00000000      0.00000000      0.00000000
0.00000000    1.0000000000
A-6              294419AZ9              39,667,000.00
3.83624322      7.26017445     40.42211486     47.68228931
0.00000000    0.7409244455
B Fixed          N/A                           567.57
0.00000000      0.00000000      0.00000000      0.00000000
1.70904029 2362.5446376658
B Vari           N/A                           142.78
315242.26082084      0.00000000      0.00000000
0.00000000      0.00000000 8334.5006303404
RU               N/A                             0.00
N/A             N/A             N/A             N/A
N/A             N/A
____________________________________________________________
____________________________________________________________
_____________________________
Totals                                 118,954,710.35
0.8324632540



Report  3
   09/17/96 -- 11:27am
Page  1 of  1
EXHIBIT 21.1                       PAGE 10


Equicon Mortgage Loan Trust 1995-2
Norwest Bank Minnesota, N.A.
Contact:                           Carol Tracey
Securities Administration Services
Reporting   Month:        August 1996
Phone:                           (410) 884-2117
11000 Broken Land Parkway
Distribution Date: September 18, 1996
InvestorDirect:                  (800) 605-4167
Columbia, MD 21044-7800

                                                       Class
Principal Distribution - Issuing

                   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            24,764,253.87        81,995.82
1,532,805.38       332,186.85             0.00
1,946,988.05             0.00    22,817,265.82
0.00
A-2            21,000,000.00             0.00
0.00             0.00             0.00             0.00
0.00    21,000,000.00             0.00
A-3            10,000,000.00             0.00
0.00             0.00             0.00             0.00
0.00    10,000,000.00             0.00
A-4             8,000,000.00             0.00
0.00             0.00             0.00             0.00
0.00     8,000,000.00             0.00
A-5             5,287,000.00             0.00
0.00             0.00             0.00             0.00
0.00     5,287,000.00             0.00
A-6            31,281,663.35       287,989.34
1,603,424.03             0.00             0.00
1,891,413.37             0.00    29,390,249.98
0.00
B Fixed         1,008,723.58             0.00
0.00     (332,186.85)             0.00             0.00
0.97     1,340,909.46             0.00
B Vari          1,190,000.00             0.00
0.00             0.00             0.00             0.00
0.00     1,190,000.00             0.00
RU                      0.00             0.00
0.00             0.00             0.00             0.00
0.00             0.00             0.00
____________________________________________________________
____________________________________________________________
____________________________________________
Totals        102,531,640.80       369,985.16
3,136,229.41             0.00             0.00
3,838,401.42             0.97    99,025,425.26
0.00


*Principal Balance Reduction

Realized Losses Principal Balance Reduction
0.97
Negative Amortization Principal Balance Reduction
0.00
Other
0.00


Report  4
   09/17/96 -- 11:27am
Page  1 of  1
EXHIBIT 21.1                       PAGE 11


Equicon Mortgage Loan Trust 1995-2
Norwest Bank Minnesota, N.A.
Contact:                           Carol Tracey
Securities Administration Services
Reporting   Month:        August 1996
Phone:                           (410) 884-2117
11000 Broken Land Parkway
Distribution Date: September 18, 1996
InvestorDirect:                  (800) 605-4167
Columbia, MD 21044-7800


Class Interest Distribution - Issuing

                                     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               6.45000000%    24,764,253.87
133,107.86             0.00             0.00
0.00             0.00       133,107.86    22,817,265.82
A-2               6.50000000%    21,000,000.00
113,750.00             0.00             0.00
0.00             0.00       113,750.00    21,000,000.00
A-3               6.75000000%    10,000,000.00
56,250.00             0.00             0.00             0.00
0.00        56,250.00    10,000,000.00
A-4               7.10000000%     8,000,000.00
47,333.33             0.00             0.00             0.00
0.00        47,333.33     8,000,000.00
A-5               7.40000000%     5,287,000.00
32,603.17             0.00             0.00             0.00
0.00        32,603.17     5,287,000.00
A-6               5.83750000%    31,281,663.35
152,172.26             0.00             0.00
0.00             0.00       152,172.26    29,390,249.98
B Fixed         395.17686300%     1,008,723.58
332,186.85             0.00       332,186.85
0.00             0.00             0.00     1,340,909.46
B Vari           45.38852700%     1,190,000.00
45,010.29             0.00             0.00             0.00
0.00        45,010.29     1,190,000.00
RU                0.00000000%             0.00
0.00             0.00             0.00             0.00
0.00             0.00             0.00
____________________________________________________________
____________________________________________________________
_____________________________________________
Totals
912,413.76             0.00       332,186.85
0.00             0.00       580,226.91




Notes:
Class A-6 Interest is accrued @ LIBOR = 5.47656% over the
applicable accrual period.





Report  5
   09/17/96 -- 11:27am
Page  1 of  1
EXHIBIT 21.1                       PAGE 11


Equicon Mortgage Loan Trust 1995-2
Norwest Bank Minnesota, N.A.
Contact:                           Carol Tracey
Securities Administration Services
Reporting   Month:        August 1996
Phone:                           (410) 884-2117
11000 Broken Land Parkway
Distribution Date: September 18, 1996
InvestorDirect:                  (800) 605-4167
Columbia, MD 21044-7800


Fund Account Summary - Issuing

____________________________________________________________
____________________________________________________________
______________________________________________________

Proceeds Account
   Beginning Balance
(0.00)

   DEPOSITS:
WITHDRAWALS:
    Interest Net of Servicing Fee                 912,413.76
Interest Payments                                580,226.91
    Scheduled Principal                           369,985.16
Scheduled Principal Payment                      369,985.16
    Other Principal                             3,136,229.41
Other Principal Payments                       3,468,416.26
    Negative Amortization                               0.00
Reserve Fund 1                                         0.00
    Deposits from Reserve Fund                          0.00
Fees and Expenses                                      0.00
    Gain/Loss Adjustment                                0.00
Other Withdrawals                                      0.00
    Other Deposits                                      0.00

   Total Deposit
4,418,628.33                Total Withdrawals
4,418,628.33


Ending Balance
0.00
____________________________________________________________
____________________________________________________________
______________________________________________________





Report  6
   09/17/96 -- 11:27am
Page  1 of  1
EXHIBIT 21.1                       PAGE 12


Equicon Mortgage Loan Trust 1995-2
Norwest Bank Minnesota, N.A.
Contact:                           Carol Tracey
Securities Administration Services
Reporting   Month:        August 1996
Phone:                           (410) 884-2117
11000 Broken Land Parkway
Distribution Date: September 18, 1996
InvestorDirect:                  (800) 605-4167
Columbia, MD 21044-7800


Loss/Delinquency Detail - Issuing

                  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
____________________________________________________________
____________________________________________________________
_________________________________________________

1                    0.00            0.00            0.00
0.00            0.00            0.00            0.00
0.00          565.58          565.58
2                    0.00            0.00            0.00
0.00            0.00            0.00            0.00
0.00           26.01           26.01
____________________________________________________________
____________________________________________________________
_________________________________________________
Totals               0.00            0.00            0.00
0.00            0.00            0.00            0.00
0.00          591.59          591.59





____________________________________________________________
____________________________________________________________
________________________________________
             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
1                  96  5,640,376.67        32  1,798,891.48
18  1,472,514.28        20    973,142.44         0
0.00       166       9,884,924.87
2                  26  2,272,174.08        11  1,263,883.72
7    859,255.23         7    990,015.04         0
0.00        51       5,385,328.07
____________________________________________________________
____________________________________________________________
________________________________________
Totals            122  7,912,550.75        43  3,062,775.20
25  2,331,769.51        27  1,963,157.48         0
0.00       217      15,270,252.94




Report  7
   09/17/96 -- 11:28am
Page  1 of  1
EXHIBIT 21.1                       PAGE 13

                                                  Equicon
Mortgage Loan Trust 1995-2
Norwest Bank Minnesota, N.A.
Contact:                           Carol Tracey
Securities Administration Services               Reporting
Month:        August 1996              Phone:
(410) 884-2117
11000 Broken Land Parkway
Distribution Date: September 18, 1996
InvestorDirect:                  (800) 605-4167
Columbia, MD 21044-7800


Collateral Summary - Issuing


Total|              Pool 1               Pool 2

____________________________________________________________
_____________________________________________
Monthly P&I Constant
1,333,954.94|          735,242.14           598,712.80

|
Positive Amortization
369,985.16|           81,995.82           287,989.34
Negative Amortization
0.00|                0.00                 0.00
Regular Curtailments
0.00|                0.00                 0.00
Regular Curtailment Interest
0.00|                0.00                 0.00
Prepaid Curtailments
0.00|                0.00                 0.00
Prepaid Curtailment Interest
0.00|                0.00                 0.00
Liquidations
3,136,229.41|        1,532,805.38         1,603,424.03
Principal Adjustments
0.00|                0.00                 0.00
   Total Principal Trust Distribution
3,506,214.57|        1,614,801.20         1,891,413.37

|
Scheduled Interest
963,969.78|          653,246.32           310,723.46
Servicing Fee
36,561.58|           25,174.80            11,386.78
Master Servicing Fee
2,349.68|            1,605.54               744.14
Spread
0.00|                0.00                 0.00
     Total Pass-Through Interest
912,413.76|          617,939.94           294,473.82

|
Beginning Balance
102,531,640.77|       70,059,977.42        32,471,663.35
Ending Balance
99,025,425.23|       68,445,175.25        30,580,249.98
Gross P&I Distribution
4,433,622.77|        2,242,872.72         2,190,750.05
Realized Losses/(Gains)
0.00|                0.00                 0.00
Net P&I Trust Distribution
4,433,622.77|        2,242,872.72         2,190,750.05

|
Beginning Loan Count
1429|                1105                  324
Number of Loan Payoffs
44|                  26                   18
Ending Loan Count
1385|                1079                  306

|
Weighted Average Maturity
0.0000000000|      228.0600000000       341.8100000000
Weighted Average Gross Rate
0.000000000%|       11.085700000%        11.550900000%
Weighted Average Net Rate
0.000000000%|       10.654500000%        11.130100000%
Weighted Average Pass-Through Rate
0.000000000%|       10.478200000%        10.943400000%
Weighted Average Margin
0.000000000%|        0.000000000%         6.190900000%

|
Advances on Delinquencies
|
  Current Period Principal
0.00|                0.00                 0.00
  Current Period Interest
0.00|                0.00                 0.00

|

|







Report  8
   09/17/96 -- 11:28am
Page  1 of  1
EXHIBIT 21.1                       PAGE 14

Equicon Mortgage Loan Trust 1995-2
Norwest Bank Minnesota, N.A.
Contact:                           Carol Tracey
Securities Administration Services
Reporting   Month:        August 1996
Phone:                           (410) 884-2117
11000 Broken Land Parkway
Distribution Date: September 18, 1996
InvestorDirect:                  (800) 605-4167
Columbia, MD 21044-7800


Credit Enhancement Summary - Issuing


Initial         Current         Current
Current         Current            Current

Coverage          Period          Period      Cumulative
Coverage        Coverage               Pool
Type/Purpose
Amount          Losses       Additions          Losses
Percentage          Amount            Balance
____________________________________________________________
____________________________________________________________
___________________________________________
Subordination
710.35            0.97            0.00          593.30
2.55581782%    2,530,909.46      99,025,425.23





                             Principal
                          Distribution
Scheduled   Unscheduled
                                Amount    Percentage
Payment       Payment

___________________________________________________________
Senior                    3,506,214.57 100.00000000%
100.00000000% 100.00000000%
Subordinate                       0.00   0.00000000%
0.00000000%   0.00000000%
































Report  9
   09/17/96 -- 11:30am
Page  1 of  1
[{"type": "8-K", "sequence": "1", "secsgml_size_bytes": 25659}]
{"company-data": {"conformed-name": "EQUICON MORTGAGE LOAN TRUST 1995-2", "cik": "0001002669", "assigned-sic": "6189", "irs-number": "526772802", "state-of-incorporation": "NY", "fiscal-year-end": "1231"}, "filing-values": {"form-type": "8-K", "act": "34", "file-number": "033-96500-01", "film-number": "96638659"}, "business-address": {"street1": "NORWEST BANK MINNESOTA SAS TAX DEPT", "street2": "11000 BROKEN LAND PKWY", "city": "COLUMBIA", "state": "MD", "zip": "21044", "phone": "4108842076"}, "mail-address": {"street1": "C/O NORWEST BANK MINNESOTA SAS TAX DEPT", "street2": "11000 BROKEN LAND PKWY", "city": "COLUMBIA", "state": "MD", "zip": "21044"}}
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)  September
                          18, 1996
                              
             Equicon Mortgage Loan Trust 1995-2
   (Exact name of registrant as specified in its charter)
                              
New York                               33-96500
Applied For
(State or other jurisdiction       (Commission
(IRS Employer
of incorporation or           File Number)
Identification
organization)                                     Number)

c/o Norwest Bank Minnesota
National Association
Sixth Street & Marquette Avenue
Minneapolis,  Minnesota                           55479-0069
(Address of principal executive offices)
(Zip Code)

Registrant's telephone number including area code      (612)
984-0979

             Equicon Mortgage 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 Equicon Mortgage Loan Trust 1995-2 makes monthly
remittances to security holders.  The latest remittance was
made September 18, 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 September
18, 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.

                         Equicon Mortgage 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 September 18, 1996.

EXHIBIT 21.1                       PAGE 6

Equicon Mortgage Loan Trust 1995-2
Norwest Bank Minnesota, N.A.
Contact:                           Carol Tracey
Securities Administration Services
Reporting   Month:        August 1996
Phone:                           (410) 884-2117
11000 Broken Land Parkway
Distribution Date: September 18, 1996
InvestorDirect:                  (800) 605-4167
Columbia, MD 21044-7800

Series Structure Summary - Issuing

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
35,000,000.00       6.45000000%               0.00
0.00               0.00   0.6519218806
A-2      Senior         Sequential Pay   Fixed
21,000,000.00       6.50000000%               0.00
0.00               0.00   1.0000000000
A-3      Senior         Sequential Pay   Fixed
10,000,000.00       6.75000000%               0.00
0.00               0.00   1.0000000000
A-4      Senior         Sequential Pay   Fixed
8,000,000.00       7.10000000%               0.00
0.00               0.00   1.0000000000
A-5      Senior         Sequential Pay   Fixed
5,287,000.00       7.40000000%               0.00
0.00               0.00   1.0000000000
A-6      Senior         Sequential Pay   Variable
39,667,000.00       5.83750000%               0.00
0.00               0.00   0.7409244455
B Fixed  Subordinate    Sequential Pay   Variable
567.57     395.17686300%             567.29
0.00               0.00
B Vari   Subordinate    Sequential Pay   Variable
142.78      45.38852700%              26.01
0.00               0.00
RU       Residual       Residual         Residual
0.00       0.00000000%               0.00               0.00
0.00   0.0000000000
____________________________________________________________
____________________________________________________________
_______________________________________________
Totals
118,954,710.35                               593.30
0.00               0.00   0.8324632540

Report  1
   09/17/96 -- 11:27am
Page  1 of  1
EXHIBIT 21.1                       PAGE 7

                                                     Equicon
Mortgage Loan Trust 1995-2
Norwest Bank Minnesota, N.A.
Contact:                           Carol Tracey
Securities Administration Services
Reporting   Month:        August 1996                Phone:
(410) 884-2117
11000 Broken Land Parkway
Distribution Date: September 18, 1996
InvestorDirect:                  (800) 605-4167
Columbia, MD 21044-7800

                                                    Class
Distribution Summary - Issuing

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        09/01/1996          6.45000000%
24,764,253.87         133,107.86       1,946,988.05
0.00      22,817,265.82       2,080,095.91
A-2        09/01/1996          6.50000000%
21,000,000.00         113,750.00               0.00
0.00      21,000,000.00         113,750.00
A-3        09/01/1996          6.75000000%
10,000,000.00          56,250.00               0.00
0.00      10,000,000.00          56,250.00
A-4        09/01/1996          7.10000000%
8,000,000.00          47,333.33               0.00
0.00       8,000,000.00          47,333.33
A-5        09/01/1996          7.40000000%
5,287,000.00          32,603.17               0.00
0.00       5,287,000.00          32,603.17
A-6        08/30/1996          5.83750000%
31,281,663.35         152,172.26       1,891,413.37
0.00      29,390,249.98       2,043,585.63
B Fixed    09/01/1996        395.17686300%
1,008,723.58               0.00               0.00
0.97       1,340,909.46               0.00
B Vari     08/30/1996         45.38852700%
1,190,000.00          45,010.29               0.00
0.00       1,190,000.00          45,010.29
RU         08/30/1996          0.00000000%
0.00               0.00               0.00
0.00               0.00               0.00
____________________________________________________________
____________________________________________________________
____________________________________
Totals
102,531,640.80         580,226.91       3,838,401.42
0.97      99,025,425.26       4,418,628.33

Report  2
   09/17/96 -- 11:27am
Page  1 of  1
EXHIBIT 21.1                       PAGE 8

                                                 Equicon
Mortgage Loan Trust 1995-2
Norwest Bank Minnesota, N.A.
Contact:                           Carol Tracey
Securities Administration Services              Reporting
Month:        August 1996             Phone:
(410) 884-2117
11000 Broken Land Parkway                       Distribution
Date: September 18, 1996             InvestorDirect:
(800) 605-4167
Columbia, MD 21044-7800

                                     Class Distribution Per
1,000 of Original Balance - Issuing

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              294419AU0              35,000,000.00
3.80308171      2.34273771     43.79443943     55.62823000
0.00000000    0.6519218806
A-2              294419AV8              21,000,000.00
5.41666667      0.00000000      0.00000000      0.00000000
0.00000000    1.0000000000
A-3              294419AW6              10,000,000.00
5.62500000      0.00000000      0.00000000      0.00000000
0.00000000    1.0000000000
A-4              294419AX4               8,000,000.00
5.91666625      0.00000000      0.00000000      0.00000000
0.00000000    1.0000000000
A-5              294419AY2               5,287,000.00
6.16666730      0.00000000      0.00000000      0.00000000
0.00000000    1.0000000000
A-6              294419AZ9              39,667,000.00
3.83624322      7.26017445     40.42211486     47.68228931
0.00000000    0.7409244455
B Fixed          N/A                           567.57
0.00000000      0.00000000      0.00000000      0.00000000
1.70904029 2362.5446376658
B Vari           N/A                           142.78
315242.26082084      0.00000000      0.00000000
0.00000000      0.00000000 8334.5006303404
RU               N/A                             0.00
N/A             N/A             N/A             N/A
N/A             N/A
____________________________________________________________
____________________________________________________________
_____________________________
Totals                                 118,954,710.35
0.8324632540

Report  3
   09/17/96 -- 11:27am
Page  1 of  1
EXHIBIT 21.1                       PAGE 10

Equicon Mortgage Loan Trust 1995-2
Norwest Bank Minnesota, N.A.
Contact:                           Carol Tracey
Securities Administration Services
Reporting   Month:        August 1996
Phone:                           (410) 884-2117
11000 Broken Land Parkway
Distribution Date: September 18, 1996
InvestorDirect:                  (800) 605-4167
Columbia, MD 21044-7800

                                                       Class
Principal Distribution - Issuing

                   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            24,764,253.87        81,995.82
1,532,805.38       332,186.85             0.00
1,946,988.05             0.00    22,817,265.82
0.00
A-2            21,000,000.00             0.00
0.00             0.00             0.00             0.00
0.00    21,000,000.00             0.00
A-3            10,000,000.00             0.00
0.00             0.00             0.00             0.00
0.00    10,000,000.00             0.00
A-4             8,000,000.00             0.00
0.00             0.00             0.00             0.00
0.00     8,000,000.00             0.00
A-5             5,287,000.00             0.00
0.00             0.00             0.00             0.00
0.00     5,287,000.00             0.00
A-6            31,281,663.35       287,989.34
1,603,424.03             0.00             0.00
1,891,413.37             0.00    29,390,249.98
0.00
B Fixed         1,008,723.58             0.00
0.00     (332,186.85)             0.00             0.00
0.97     1,340,909.46             0.00
B Vari          1,190,000.00             0.00
0.00             0.00             0.00             0.00
0.00     1,190,000.00             0.00
RU                      0.00             0.00
0.00             0.00             0.00             0.00
0.00             0.00             0.00
____________________________________________________________
____________________________________________________________
____________________________________________
Totals        102,531,640.80       369,985.16
3,136,229.41             0.00             0.00
3,838,401.42             0.97    99,025,425.26
0.00

*Principal Balance Reduction

Realized Losses Principal Balance Reduction
0.97
Negative Amortization Principal Balance Reduction
0.00
Other
0.00

Report  4
   09/17/96 -- 11:27am
Page  1 of  1
EXHIBIT 21.1                       PAGE 11

Equicon Mortgage Loan Trust 1995-2
Norwest Bank Minnesota, N.A.
Contact:                           Carol Tracey
Securities Administration Services
Reporting   Month:        August 1996
Phone:                           (410) 884-2117
11000 Broken Land Parkway
Distribution Date: September 18, 1996
InvestorDirect:                  (800) 605-4167
Columbia, MD 21044-7800

Class Interest Distribution - Issuing

                                     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               6.45000000%    24,764,253.87
133,107.86             0.00             0.00
0.00             0.00       133,107.86    22,817,265.82
A-2               6.50000000%    21,000,000.00
113,750.00             0.00             0.00
0.00             0.00       113,750.00    21,000,000.00
A-3               6.75000000%    10,000,000.00
56,250.00             0.00             0.00             0.00
0.00        56,250.00    10,000,000.00
A-4               7.10000000%     8,000,000.00
47,333.33             0.00             0.00             0.00
0.00        47,333.33     8,000,000.00
A-5               7.40000000%     5,287,000.00
32,603.17             0.00             0.00             0.00
0.00        32,603.17     5,287,000.00
A-6               5.83750000%    31,281,663.35
152,172.26             0.00             0.00
0.00             0.00       152,172.26    29,390,249.98
B Fixed         395.17686300%     1,008,723.58
332,186.85             0.00       332,186.85
0.00             0.00             0.00     1,340,909.46
B Vari           45.38852700%     1,190,000.00
45,010.29             0.00             0.00             0.00
0.00        45,010.29     1,190,000.00
RU                0.00000000%             0.00
0.00             0.00             0.00             0.00
0.00             0.00             0.00
____________________________________________________________
____________________________________________________________
_____________________________________________
Totals
912,413.76             0.00       332,186.85
0.00             0.00       580,226.91

Notes:
Class A-6 Interest is accrued @ LIBOR = 5.47656% over the
applicable accrual period.

Report  5
   09/17/96 -- 11:27am
Page  1 of  1
EXHIBIT 21.1                       PAGE 11

Equicon Mortgage Loan Trust 1995-2
Norwest Bank Minnesota, N.A.
Contact:                           Carol Tracey
Securities Administration Services
Reporting   Month:        August 1996
Phone:                           (410) 884-2117
11000 Broken Land Parkway
Distribution Date: September 18, 1996
InvestorDirect:                  (800) 605-4167
Columbia, MD 21044-7800

Fund Account Summary - Issuing

____________________________________________________________
____________________________________________________________
______________________________________________________

Proceeds Account
   Beginning Balance
(0.00)

   DEPOSITS:
WITHDRAWALS:
    Interest Net of Servicing Fee                 912,413.76
Interest Payments                                580,226.91
    Scheduled Principal                           369,985.16
Scheduled Principal Payment                      369,985.16
    Other Principal                             3,136,229.41
Other Principal Payments                       3,468,416.26
    Negative Amortization                               0.00
Reserve Fund 1                                         0.00
    Deposits from Reserve Fund                          0.00
Fees and Expenses                                      0.00
    Gain/Loss Adjustment                                0.00
Other Withdrawals                                      0.00
    Other Deposits                                      0.00

   Total Deposit
4,418,628.33                Total Withdrawals
4,418,628.33

Ending Balance
0.00
____________________________________________________________
____________________________________________________________
______________________________________________________

Report  6
   09/17/96 -- 11:27am
Page  1 of  1
EXHIBIT 21.1                       PAGE 12

Equicon Mortgage Loan Trust 1995-2
Norwest Bank Minnesota, N.A.
Contact:                           Carol Tracey
Securities Administration Services
Reporting   Month:        August 1996
Phone:                           (410) 884-2117
11000 Broken Land Parkway
Distribution Date: September 18, 1996
InvestorDirect:                  (800) 605-4167
Columbia, MD 21044-7800

Loss/Delinquency Detail - Issuing

                  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
____________________________________________________________
____________________________________________________________
_________________________________________________

1                    0.00            0.00            0.00
0.00            0.00            0.00            0.00
0.00          565.58          565.58
2                    0.00            0.00            0.00
0.00            0.00            0.00            0.00
0.00           26.01           26.01
____________________________________________________________
____________________________________________________________
_________________________________________________
Totals               0.00            0.00            0.00
0.00            0.00            0.00            0.00
0.00          591.59          591.59

____________________________________________________________
____________________________________________________________
________________________________________
             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
1                  96  5,640,376.67        32  1,798,891.48
18  1,472,514.28        20    973,142.44         0
0.00       166       9,884,924.87
2                  26  2,272,174.08        11  1,263,883.72
7    859,255.23         7    990,015.04         0
0.00        51       5,385,328.07
____________________________________________________________
____________________________________________________________
________________________________________
Totals            122  7,912,550.75        43  3,062,775.20
25  2,331,769.51        27  1,963,157.48         0
0.00       217      15,270,252.94

Report  7
   09/17/96 -- 11:28am
Page  1 of  1
EXHIBIT 21.1                       PAGE 13

                                                  Equicon
Mortgage Loan Trust 1995-2
Norwest Bank Minnesota, N.A.
Contact:                           Carol Tracey
Securities Administration Services               Reporting
Month:        August 1996              Phone:
(410) 884-2117
11000 Broken Land Parkway
Distribution Date: September 18, 1996
InvestorDirect:                  (800) 605-4167
Columbia, MD 21044-7800

Collateral Summary - Issuing

Total|              Pool 1               Pool 2

____________________________________________________________
_____________________________________________
Monthly P&I Constant
1,333,954.94|          735,242.14           598,712.80

|
Positive Amortization
369,985.16|           81,995.82           287,989.34
Negative Amortization
0.00|                0.00                 0.00
Regular Curtailments
0.00|                0.00                 0.00
Regular Curtailment Interest
0.00|                0.00                 0.00
Prepaid Curtailments
0.00|                0.00                 0.00
Prepaid Curtailment Interest
0.00|                0.00                 0.00
Liquidations
3,136,229.41|        1,532,805.38         1,603,424.03
Principal Adjustments
0.00|                0.00                 0.00
   Total Principal Trust Distribution
3,506,214.57|        1,614,801.20         1,891,413.37

|
Scheduled Interest
963,969.78|          653,246.32           310,723.46
Servicing Fee
36,561.58|           25,174.80            11,386.78
Master Servicing Fee
2,349.68|            1,605.54               744.14
Spread
0.00|                0.00                 0.00
     Total Pass-Through Interest
912,413.76|          617,939.94           294,473.82

|
Beginning Balance
102,531,640.77|       70,059,977.42        32,471,663.35
Ending Balance
99,025,425.23|       68,445,175.25        30,580,249.98
Gross P&I Distribution
4,433,622.77|        2,242,872.72         2,190,750.05
Realized Losses/(Gains)
0.00|                0.00                 0.00
Net P&I Trust Distribution
4,433,622.77|        2,242,872.72         2,190,750.05

|
Beginning Loan Count
1429|                1105                  324
Number of Loan Payoffs
44|                  26                   18
Ending Loan Count
1385|                1079                  306

|
Weighted Average Maturity
0.0000000000|      228.0600000000       341.8100000000
Weighted Average Gross Rate
0.000000000%|       11.085700000%        11.550900000%
Weighted Average Net Rate
0.000000000%|       10.654500000%        11.130100000%
Weighted Average Pass-Through Rate
0.000000000%|       10.478200000%        10.943400000%
Weighted Average Margin
0.000000000%|        0.000000000%         6.190900000%

|
Advances on Delinquencies
|
  Current Period Principal
0.00|                0.00                 0.00
  Current Period Interest
0.00|                0.00                 0.00

|

|

Report  8
   09/17/96 -- 11:28am
Page  1 of  1
EXHIBIT 21.1                       PAGE 14

Equicon Mortgage Loan Trust 1995-2
Norwest Bank Minnesota, N.A.
Contact:                           Carol Tracey
Securities Administration Services
Reporting   Month:        August 1996
Phone:                           (410) 884-2117
11000 Broken Land Parkway
Distribution Date: September 18, 1996
InvestorDirect:                  (800) 605-4167
Columbia, MD 21044-7800

Credit Enhancement Summary - Issuing

Initial         Current         Current
Current         Current            Current

Coverage          Period          Period      Cumulative
Coverage        Coverage               Pool
Type/Purpose
Amount          Losses       Additions          Losses
Percentage          Amount            Balance
____________________________________________________________
____________________________________________________________
___________________________________________
Subordination
710.35            0.97            0.00          593.30
2.55581782%    2,530,909.46      99,025,425.23

                             Principal
                          Distribution
Scheduled   Unscheduled
                                Amount    Percentage
Payment       Payment

___________________________________________________________
Senior                    3,506,214.57 100.00000000%
100.00000000% 100.00000000%
Subordinate                       0.00   0.00000000%
0.00000000%   0.00000000%

Report  9
   09/17/96 -- 11:30am
Page  1 of  1