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)  April 26,
                             1996
                               
           Equivantage Home Equity Loan Trust 1995-2
    (Exact name of registrant as specified in its charter)
                               
New York                               33-87040
Applied For
(State or other jurisdiction       (Commission
(IRS Employer
of incorporation or           File Number)
Identification
organization)                                     Number)


c/o Equivantage Acceptance Corp.
Attention: John Smith
13111 Northwest Freeway
Houston, Texas                          _______77040_____
(Address of principal executive offices)
(Zip Code)

Registrant's telephone number including area code      (713)
895-1957


           Equivantage Home Equity 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 Equivantage Home Equity Loan Trust 1995-2 makes monthly
remittances to security holders.  The latest remittance was
made April 26, 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 April 26,
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.

                         Equivantage Home Equity 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 April 26, 1996.




                                                   Equivantage
Home Equity Loan Trust 1995-2
Norwest Bank Minnesota, N.A.
Contact:                             Reid Denny
Securities Administration Services                   Reporting
Month:         March 1996                  Phone:
(410) 884-2085
11000 Broken Land Parkway
Distribution Date:     April 26, 1996
InvestorDirect:                  (800) 605-4167
Columbia, MD 21044-7800


Cover Page

                          Report Name
Report Number

______________________________________________________________
________________

                          Series Structure Summary
1

                          Class Distribution Summary
2

                          Class Distribution Per 1,000 of
Original Balance                                            3

                          Class Principal Distribution
4

                          Class Interest Distribution
5

                          Fund Account Summary
6

                          Loss/Delinquency Detail
7

                          Collateral Summary
8

                          Credit Enhancement Summary
9





















Notes:
**Contact InvestorDirect (SM) at (800) 605-4167 to obtain
additional collateral and security information.


Equivantage Home Equity Loan Trust 1995-2
Norwest Bank Minnesota, N.A.
Contact:                             Reid Denny
Securities Administration Services
Reporting   Month:         March 1996
Phone:                           (410) 884-2085
11000 Broken Land Parkway
Distribution Date:     April 26, 1996
InvestorDirect:                  (800) 605-4167
Columbia, MD 21044-7800


Series Structure Summary


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
48,500,000.00       6.40000000%               0.00
0.00               0.00   0.8692003194
A-2      Senior         Sequential Pay   Fixed
20,000,000.00       6.85000000%               0.00
0.00               0.00   1.0000000000
A-3      Senior         Sequential Pay   Fixed
6,952,000.00       7.40000000%               0.00
0.00               0.00   1.0000000000
R        Residual       Residual         Residual
0.00       0.00000000%               0.00               0.00
0.00   0.0000000000
SUB.     Subordinate    Support          Accretion
120.20     294.83664944%               0.00               0.00
0.00
______________________________________________________________
______________________________________________________________
___________________________________________
Totals
75,452,120.20                                 0.00
0.00               0.00   0.9341759033





































Report  1
   04/22/96 --  8:08am
Page  1 of  1


                                                  Equivantage
Home Equity Loan Trust 1995-2
Norwest Bank Minnesota, N.A.
Contact:                             Reid Denny
Securities Administration Services                  Reporting
Month:         March 1996                Phone:
(410) 884-2085
11000 Broken Land Parkway
Distribution Date:     April 26, 1996
InvestorDirect:                  (800) 605-4167
Columbia, MD 21044-7800

                                                         Class
Distribution Summary

                                                    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        03/29/1996          6.40000000%      43,808,345.92
233,644.51       1,652,130.43               0.00
42,156,215.49       1,885,774.94
A-2        03/29/1996          6.85000000%      20,000,000.00
114,166.67               0.00               0.00
20,000,000.00         114,166.67
A-3        03/29/1996          7.40000000%       6,952,000.00
42,870.67               0.00               0.00
6,952,000.00          42,870.67
R          03/29/1996          0.00000000%               0.00
0.00               0.00               0.00               0.00
0.00
SUB.       03/29/1996        294.83664944%       1,105,675.63
0.00               0.00               0.00       1,377,337.05
0.00
______________________________________________________________
______________________________________________________________
________________________________
Totals                                          71,866,021.55
390,681.85       1,652,130.43               0.00
70,485,552.54       2,042,812.28





































Report  2
   04/22/96 --  8:08am
Page  1 of  1


                                              Equivantage Home
Equity Loan Trust 1995-2
Norwest Bank Minnesota, N.A.
Contact:                             Reid Denny
Securities Administration Services              Reporting
Month:         March 1996             Phone:
(410) 884-2085
11000 Broken Land Parkway                       Distribution
Date:     April 26, 1996             InvestorDirect:
(800) 605-4167
Columbia, MD 21044-7800

                                          Class Distribution
Per 1,000 of Original Balance


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              29476YAC3              48,500,000.00
4.81741258      1.51020206     26.95307649     34.06454495
0.00000000    0.8692003194
A-2              29476YAD1              20,000,000.00
5.70833350      0.00000000      0.00000000      0.00000000
0.00000000    1.0000000000
A-3              29476YAE9               6,952,000.00
6.16666715      0.00000000      0.00000000      0.00000000
0.00000000    1.0000000000
R                N/A                             0.00
N/A             N/A             N/A             N/A
N/A             N/A
SUB.             N/A                           120.20
0.00000000      0.00000000      0.00000000      0.00000000
0.00000000
______________________________________________________________
______________________________________________________________
_________________________
Totals                                  75,452,120.20
0.9341759033




































Report  3
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Page  1 of  1



Equivantage Home Equity Loan Trust 1995-2
Norwest Bank Minnesota, N.A.
Contact:                             Reid Denny
Securities Administration Services
Reporting   Month:         March 1996
Phone:                           (410) 884-2085
11000 Broken Land Parkway
Distribution Date:     April 26, 1996
InvestorDirect:                  (800) 605-4167
Columbia, MD 21044-7800


Class Principal Distribution

                   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            43,808,345.92        73,244.80     1,307,224.21
271,661.42             0.00     1,652,130.43             0.00
42,156,215.49             0.00
A-2            20,000,000.00             0.00             0.00
0.00             0.00             0.00             0.00
20,000,000.00             0.00
A-3             6,952,000.00             0.00             0.00
0.00             0.00             0.00             0.00
6,952,000.00             0.00
R                       0.00             0.00             0.00
0.00             0.00             0.00             0.00
0.00             0.00
SUB.            1,105,675.63             0.00             0.00
(271,661.42)             0.00             0.00
0.00     1,377,337.05             0.00
______________________________________________________________
______________________________________________________________
________________________________________
Totals         71,866,021.55        73,244.80     1,307,224.21
0.00             0.00     1,652,130.43             0.00
70,485,552.54             0.00


*Principal Balance Reduction

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
























Notes:
Accretion Amount represents the Subordination Increase Amount.




Report  4
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Page  1 of  1



Equivantage Home Equity Loan Trust 1995-2
Norwest Bank Minnesota, N.A.
Contact:                             Reid Denny
Securities Administration Services
Reporting   Month:         March 1996
Phone:                           (410) 884-2085
11000 Broken Land Parkway
Distribution Date:     April 26, 1996
InvestorDirect:                  (800) 605-4167
Columbia, MD 21044-7800


Class Interest Distribution

                                     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               6.40000000%    43,808,345.92
233,644.51             0.00             0.00             0.00
0.00       233,644.51    42,156,215.49
A-2               6.85000000%    20,000,000.00
114,166.67             0.00             0.00             0.00
0.00       114,166.67    20,000,000.00
A-3               7.40000000%     6,952,000.00
42,870.67             0.00             0.00             0.00
0.00        42,870.67     6,952,000.00
R                 0.00000000%             0.00
0.00             0.00             0.00             0.00
0.00             0.00             0.00
SUB.            294.83664944%     1,105,675.63
271,661.42             0.00       271,661.42             0.00
0.00             0.00     1,377,337.05
______________________________________________________________
______________________________________________________________
_________________________________________
Totals
662,343.27             0.00       271,661.42             0.00
0.00       390,681.85





























Notes:
Interest Shortfall amount represents the Interest Carry-
Forward Amount.





Report  5
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Page  1 of  1



Equivantage Home Equity Loan Trust 1995-2
Norwest Bank Minnesota, N.A.
Contact:                             Reid Denny
Securities Administration Services
Reporting   Month:         March 1996
Phone:                           (410) 884-2085
11000 Broken Land Parkway
Distribution Date:     April 26, 1996
InvestorDirect:                  (800) 605-4167
Columbia, MD 21044-7800


Fund Account Summary

______________________________________________________________
______________________________________________________________
__________________________________________________

Proceeds Account
   Beginning Balance
0.00

   DEPOSITS:
WITHDRAWALS:
    Interest Net of Servicing Fee                 674,160.93
Interest Payments                                390,681.85
    Scheduled Principal                            73,244.80
Scheduled Principal Payment                       73,244.80
    Other Principal                             1,307,224.21
Other Principal Payments                       1,578,885.63
    Negative Amortization                               0.00
Reserve Fund 1                                         0.00
    Deposits from Reserve Fund                          0.00
Fees and Expenses                                 11,817.66
    Gain/Loss Adjustment                                0.00
Other Withdrawals                                      0.00
    Other Deposits                                      0.00

   Total Deposit
2,054,629.94                Total Withdrawals
2,054,629.94


Ending Balance
0.00
______________________________________________________________
______________________________________________________________
__________________________________________________






























Report  6
   04/22/96 --  8:08am
Page  1 of  1



Equivantage Home Equity Loan Trust 1995-2
Norwest Bank Minnesota, N.A.
Contact:                             Reid Denny
Securities Administration Services
Reporting   Month:         March 1996
Phone:                           (410) 884-2085
11000 Broken Land Parkway
Distribution Date:     April 26, 1996
InvestorDirect:                  (800) 605-4167
Columbia, MD 21044-7800


Loss/Delinquency Detail

                  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
______________________________________________________________
______________________________________________________________
_____________________________________________

X                    0.00            0.00            0.00
0.00            0.00            0.00            0.00
0.00            0.00            0.00
______________________________________________________________
______________________________________________________________
_____________________________________________
Totals               0.00            0.00            0.00
0.00            0.00            0.00            0.00
0.00            0.00            0.00





______________________________________________________________
______________________________________________________________
____________________________________
             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
X                  30  1,505,657.98         7    357,014.55
14    832,721.16        19  1,359,031.95         1
33,688.99        71       4,088,114.63
______________________________________________________________
______________________________________________________________
____________________________________
Totals             30  1,505,657.98         7    357,014.55
14    832,721.16        19  1,359,031.95         1
33,688.99        71       4,088,114.63





























Report  7
   04/22/96 --  8:08am
Page  1 of  1


                                               Equivantage
Home Equity Loan Trust 1995-2
Norwest Bank Minnesota, N.A.
Contact:                             Reid Denny
Securities Administration Services               Reporting
Month:         March 1996              Phone:
(410) 884-2085
11000 Broken Land Parkway                        Distribution
Date:     April 26, 1996              InvestorDirect:
(800) 605-4167
Columbia, MD 21044-7800


Collateral Summary


Total|              Pool X

______________________________________________________________
___________________________________________
Monthly P&I Constant
775,597.56|          775,597.56

|
Positive Amortization
73,244.80|           73,244.80
Negative Amortization
0.00|                0.00
Regular Curtailments
3,154.14|            3,154.14
Regular Curtailment Interest
0.00|                0.00
Prepaid Curtailments
1,304,070.07|        1,304,070.07
Prepaid Curtailment Interest
0.00|                0.00
Liquidations
0.00|                0.00
Principal Adjustments
0.00|                0.00
   Total Principal Trust Distribution
1,380,469.01|        1,380,469.01

|
Scheduled Interest
702,352.76|          702,352.76
Servicing Fee
28,191.83|           28,191.83
Master Servicing Fee
2,567.02|            2,567.02
Spread
0.00|                0.00
     Total Pass-Through Interest
662,343.26|          662,343.26

|
Beginning Balance
71,866,021.55|       71,866,021.55
Ending Balance
70,485,552.54|       70,485,552.54
Gross P&I Distribution
2,054,629.94|        2,054,629.94
Realized Losses/(Gains)
0.00|                0.00
Net P&I Trust Distribution
2,054,629.94|        2,054,629.94

|
Beginning Loan Count
1471|                1471
Number of Loan Payoffs
31|                  31
Ending Loan Count
1440|                1440

|
Weighted Average Maturity
236.0000000000|      236.0000000000
Weighted Average Gross Rate
11.727702380%|       11.727702380%
Weighted Average Net Rate
11.256962580%|       11.256962580%
Weighted Average Pass-Through Rate
11.059634230%|       11.059634230%
Weighted Average Margin
0.000000000%|        0.000000000%

|
Advances on Delinquencies
|
  Current Period Principal
0.00|                0.00
  Current Period Interest
790,671.13|          790,671.13

|

|







Report  8
   04/22/96 --  8:08am
Page  1 of  1



Equivantage Home Equity Loan Trust 1995-2
Norwest Bank Minnesota, N.A.
Contact:                             Reid Denny
Securities Administration Services
Reporting   Month:         March 1996
Phone:                           (410) 884-2085
11000 Broken Land Parkway
Distribution Date:     April 26, 1996
InvestorDirect:                  (800) 605-4167
Columbia, MD 21044-7800


Credit Enhancement Summary

                                                       Initial
Current         Current                           Current
Current            Current
                                                      Coverage
Period          Period      Cumulative          Coverage
Coverage               Pool
Type/Purpose                                            Amount
Losses       Additions          Losses        Percentage
Amount            Balance
______________________________________________________________
______________________________________________________________
_______________________________________
Subordination                                           120.20
0.00            0.00            0.00       1.95407002%
1,377,337.05      70,485,552.54





                             Principal
                          Distribution
Scheduled   Unscheduled
                                Amount    Percentage
Payment       Payment

___________________________________________________________
Senior                    1,380,469.01 100.00000000%
100.00000000% 100.00000000%
Subordinate                       0.00   0.00000000%
0.00000000%   0.00000000%
































Report  9
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Page  1 of  1
[{"type": "8-K", "sequence": "1", "secsgml_size_bytes": 23377}]
{"company-data": {"conformed-name": "EQUIVANTAGE HOME EQUITY LOAN TRUST 1995-2", "cik": "0001004024", "assigned-sic": "[]", "state-of-incorporation": "NY", "fiscal-year-end": "1231"}, "filing-values": {"form-type": "8-K", "act": "34", "file-number": "033-87040-02", "film-number": "96559208"}, "business-address": {"street1": "C/O NORWEST BANK MINNESOTA TAX DEPT", "street2": "11000 BROKEN LAND PKWY", "city": "COLUMBIA", "state": "MD", "zip": "21044", "phone": "4108842076"}, "mail-address": {"street1": "C/O NORWEST BANK MINNESOTA 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)  April 26,
                             1996
                               
           Equivantage Home Equity Loan Trust 1995-2
    (Exact name of registrant as specified in its charter)
                               
New York                               33-87040
Applied For
(State or other jurisdiction       (Commission
(IRS Employer
of incorporation or           File Number)
Identification
organization)                                     Number)

c/o Equivantage Acceptance Corp.
Attention: John Smith
13111 Northwest Freeway
Houston, Texas                          _______77040_____
(Address of principal executive offices)
(Zip Code)

Registrant's telephone number including area code      (713)
895-1957

           Equivantage Home Equity 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 Equivantage Home Equity Loan Trust 1995-2 makes monthly
remittances to security holders.  The latest remittance was
made April 26, 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 April 26,
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.

                         Equivantage Home Equity 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 April 26, 1996.

                                                   Equivantage
Home Equity Loan Trust 1995-2
Norwest Bank Minnesota, N.A.
Contact:                             Reid Denny
Securities Administration Services                   Reporting
Month:         March 1996                  Phone:
(410) 884-2085
11000 Broken Land Parkway
Distribution Date:     April 26, 1996
InvestorDirect:                  (800) 605-4167
Columbia, MD 21044-7800

Cover Page

                          Report Name
Report Number

______________________________________________________________
________________

                          Series Structure Summary
1

                          Class Distribution Summary
2

                          Class Distribution Per 1,000 of
Original Balance                                            3

                          Class Principal Distribution
4

                          Class Interest Distribution
5

                          Fund Account Summary
6

                          Loss/Delinquency Detail
7

                          Collateral Summary
8

                          Credit Enhancement Summary
9

Notes:
**Contact InvestorDirect (SM) at (800) 605-4167 to obtain
additional collateral and security information.

Equivantage Home Equity Loan Trust 1995-2
Norwest Bank Minnesota, N.A.
Contact:                             Reid Denny
Securities Administration Services
Reporting   Month:         March 1996
Phone:                           (410) 884-2085
11000 Broken Land Parkway
Distribution Date:     April 26, 1996
InvestorDirect:                  (800) 605-4167
Columbia, MD 21044-7800

Series Structure Summary

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
48,500,000.00       6.40000000%               0.00
0.00               0.00   0.8692003194
A-2      Senior         Sequential Pay   Fixed
20,000,000.00       6.85000000%               0.00
0.00               0.00   1.0000000000
A-3      Senior         Sequential Pay   Fixed
6,952,000.00       7.40000000%               0.00
0.00               0.00   1.0000000000
R        Residual       Residual         Residual
0.00       0.00000000%               0.00               0.00
0.00   0.0000000000
SUB.     Subordinate    Support          Accretion
120.20     294.83664944%               0.00               0.00
0.00
______________________________________________________________
______________________________________________________________
___________________________________________
Totals
75,452,120.20                                 0.00
0.00               0.00   0.9341759033

Report  1
   04/22/96 --  8:08am
Page  1 of  1

                                                  Equivantage
Home Equity Loan Trust 1995-2
Norwest Bank Minnesota, N.A.
Contact:                             Reid Denny
Securities Administration Services                  Reporting
Month:         March 1996                Phone:
(410) 884-2085
11000 Broken Land Parkway
Distribution Date:     April 26, 1996
InvestorDirect:                  (800) 605-4167
Columbia, MD 21044-7800

                                                         Class
Distribution Summary

                                                    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        03/29/1996          6.40000000%      43,808,345.92
233,644.51       1,652,130.43               0.00
42,156,215.49       1,885,774.94
A-2        03/29/1996          6.85000000%      20,000,000.00
114,166.67               0.00               0.00
20,000,000.00         114,166.67
A-3        03/29/1996          7.40000000%       6,952,000.00
42,870.67               0.00               0.00
6,952,000.00          42,870.67
R          03/29/1996          0.00000000%               0.00
0.00               0.00               0.00               0.00
0.00
SUB.       03/29/1996        294.83664944%       1,105,675.63
0.00               0.00               0.00       1,377,337.05
0.00
______________________________________________________________
______________________________________________________________
________________________________
Totals                                          71,866,021.55
390,681.85       1,652,130.43               0.00
70,485,552.54       2,042,812.28

Report  2
   04/22/96 --  8:08am
Page  1 of  1

                                              Equivantage Home
Equity Loan Trust 1995-2
Norwest Bank Minnesota, N.A.
Contact:                             Reid Denny
Securities Administration Services              Reporting
Month:         March 1996             Phone:
(410) 884-2085
11000 Broken Land Parkway                       Distribution
Date:     April 26, 1996             InvestorDirect:
(800) 605-4167
Columbia, MD 21044-7800

                                          Class Distribution
Per 1,000 of Original Balance

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              29476YAC3              48,500,000.00
4.81741258      1.51020206     26.95307649     34.06454495
0.00000000    0.8692003194
A-2              29476YAD1              20,000,000.00
5.70833350      0.00000000      0.00000000      0.00000000
0.00000000    1.0000000000
A-3              29476YAE9               6,952,000.00
6.16666715      0.00000000      0.00000000      0.00000000
0.00000000    1.0000000000
R                N/A                             0.00
N/A             N/A             N/A             N/A
N/A             N/A
SUB.             N/A                           120.20
0.00000000      0.00000000      0.00000000      0.00000000
0.00000000
______________________________________________________________
______________________________________________________________
_________________________
Totals                                  75,452,120.20
0.9341759033

Report  3
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Page  1 of  1

Equivantage Home Equity Loan Trust 1995-2
Norwest Bank Minnesota, N.A.
Contact:                             Reid Denny
Securities Administration Services
Reporting   Month:         March 1996
Phone:                           (410) 884-2085
11000 Broken Land Parkway
Distribution Date:     April 26, 1996
InvestorDirect:                  (800) 605-4167
Columbia, MD 21044-7800

Class Principal Distribution

                   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            43,808,345.92        73,244.80     1,307,224.21
271,661.42             0.00     1,652,130.43             0.00
42,156,215.49             0.00
A-2            20,000,000.00             0.00             0.00
0.00             0.00             0.00             0.00
20,000,000.00             0.00
A-3             6,952,000.00             0.00             0.00
0.00             0.00             0.00             0.00
6,952,000.00             0.00
R                       0.00             0.00             0.00
0.00             0.00             0.00             0.00
0.00             0.00
SUB.            1,105,675.63             0.00             0.00
(271,661.42)             0.00             0.00
0.00     1,377,337.05             0.00
______________________________________________________________
______________________________________________________________
________________________________________
Totals         71,866,021.55        73,244.80     1,307,224.21
0.00             0.00     1,652,130.43             0.00
70,485,552.54             0.00

*Principal Balance Reduction

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

Notes:
Accretion Amount represents the Subordination Increase Amount.

Report  4
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Page  1 of  1

Equivantage Home Equity Loan Trust 1995-2
Norwest Bank Minnesota, N.A.
Contact:                             Reid Denny
Securities Administration Services
Reporting   Month:         March 1996
Phone:                           (410) 884-2085
11000 Broken Land Parkway
Distribution Date:     April 26, 1996
InvestorDirect:                  (800) 605-4167
Columbia, MD 21044-7800

Class Interest Distribution

                                     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               6.40000000%    43,808,345.92
233,644.51             0.00             0.00             0.00
0.00       233,644.51    42,156,215.49
A-2               6.85000000%    20,000,000.00
114,166.67             0.00             0.00             0.00
0.00       114,166.67    20,000,000.00
A-3               7.40000000%     6,952,000.00
42,870.67             0.00             0.00             0.00
0.00        42,870.67     6,952,000.00
R                 0.00000000%             0.00
0.00             0.00             0.00             0.00
0.00             0.00             0.00
SUB.            294.83664944%     1,105,675.63
271,661.42             0.00       271,661.42             0.00
0.00             0.00     1,377,337.05
______________________________________________________________
______________________________________________________________
_________________________________________
Totals
662,343.27             0.00       271,661.42             0.00
0.00       390,681.85

Notes:
Interest Shortfall amount represents the Interest Carry-
Forward Amount.

Report  5
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Page  1 of  1

Equivantage Home Equity Loan Trust 1995-2
Norwest Bank Minnesota, N.A.
Contact:                             Reid Denny
Securities Administration Services
Reporting   Month:         March 1996
Phone:                           (410) 884-2085
11000 Broken Land Parkway
Distribution Date:     April 26, 1996
InvestorDirect:                  (800) 605-4167
Columbia, MD 21044-7800

Fund Account Summary

______________________________________________________________
______________________________________________________________
__________________________________________________

Proceeds Account
   Beginning Balance
0.00

   DEPOSITS:
WITHDRAWALS:
    Interest Net of Servicing Fee                 674,160.93
Interest Payments                                390,681.85
    Scheduled Principal                            73,244.80
Scheduled Principal Payment                       73,244.80
    Other Principal                             1,307,224.21
Other Principal Payments                       1,578,885.63
    Negative Amortization                               0.00
Reserve Fund 1                                         0.00
    Deposits from Reserve Fund                          0.00
Fees and Expenses                                 11,817.66
    Gain/Loss Adjustment                                0.00
Other Withdrawals                                      0.00
    Other Deposits                                      0.00

   Total Deposit
2,054,629.94                Total Withdrawals
2,054,629.94

Ending Balance
0.00
______________________________________________________________
______________________________________________________________
__________________________________________________

Report  6
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Page  1 of  1

Equivantage Home Equity Loan Trust 1995-2
Norwest Bank Minnesota, N.A.
Contact:                             Reid Denny
Securities Administration Services
Reporting   Month:         March 1996
Phone:                           (410) 884-2085
11000 Broken Land Parkway
Distribution Date:     April 26, 1996
InvestorDirect:                  (800) 605-4167
Columbia, MD 21044-7800

Loss/Delinquency Detail

                  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
______________________________________________________________
______________________________________________________________
_____________________________________________

X                    0.00            0.00            0.00
0.00            0.00            0.00            0.00
0.00            0.00            0.00
______________________________________________________________
______________________________________________________________
_____________________________________________
Totals               0.00            0.00            0.00
0.00            0.00            0.00            0.00
0.00            0.00            0.00

______________________________________________________________
______________________________________________________________
____________________________________
             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
X                  30  1,505,657.98         7    357,014.55
14    832,721.16        19  1,359,031.95         1
33,688.99        71       4,088,114.63
______________________________________________________________
______________________________________________________________
____________________________________
Totals             30  1,505,657.98         7    357,014.55
14    832,721.16        19  1,359,031.95         1
33,688.99        71       4,088,114.63

Report  7
   04/22/96 --  8:08am
Page  1 of  1

                                               Equivantage
Home Equity Loan Trust 1995-2
Norwest Bank Minnesota, N.A.
Contact:                             Reid Denny
Securities Administration Services               Reporting
Month:         March 1996              Phone:
(410) 884-2085
11000 Broken Land Parkway                        Distribution
Date:     April 26, 1996              InvestorDirect:
(800) 605-4167
Columbia, MD 21044-7800

Collateral Summary

Total|              Pool X

______________________________________________________________
___________________________________________
Monthly P&I Constant
775,597.56|          775,597.56

|
Positive Amortization
73,244.80|           73,244.80
Negative Amortization
0.00|                0.00
Regular Curtailments
3,154.14|            3,154.14
Regular Curtailment Interest
0.00|                0.00
Prepaid Curtailments
1,304,070.07|        1,304,070.07
Prepaid Curtailment Interest
0.00|                0.00
Liquidations
0.00|                0.00
Principal Adjustments
0.00|                0.00
   Total Principal Trust Distribution
1,380,469.01|        1,380,469.01

|
Scheduled Interest
702,352.76|          702,352.76
Servicing Fee
28,191.83|           28,191.83
Master Servicing Fee
2,567.02|            2,567.02
Spread
0.00|                0.00
     Total Pass-Through Interest
662,343.26|          662,343.26

|
Beginning Balance
71,866,021.55|       71,866,021.55
Ending Balance
70,485,552.54|       70,485,552.54
Gross P&I Distribution
2,054,629.94|        2,054,629.94
Realized Losses/(Gains)
0.00|                0.00
Net P&I Trust Distribution
2,054,629.94|        2,054,629.94

|
Beginning Loan Count
1471|                1471
Number of Loan Payoffs
31|                  31
Ending Loan Count
1440|                1440

|
Weighted Average Maturity
236.0000000000|      236.0000000000
Weighted Average Gross Rate
11.727702380%|       11.727702380%
Weighted Average Net Rate
11.256962580%|       11.256962580%
Weighted Average Pass-Through Rate
11.059634230%|       11.059634230%
Weighted Average Margin
0.000000000%|        0.000000000%

|
Advances on Delinquencies
|
  Current Period Principal
0.00|                0.00
  Current Period Interest
790,671.13|          790,671.13

|

|

Report  8
   04/22/96 --  8:08am
Page  1 of  1

Equivantage Home Equity Loan Trust 1995-2
Norwest Bank Minnesota, N.A.
Contact:                             Reid Denny
Securities Administration Services
Reporting   Month:         March 1996
Phone:                           (410) 884-2085
11000 Broken Land Parkway
Distribution Date:     April 26, 1996
InvestorDirect:                  (800) 605-4167
Columbia, MD 21044-7800

Credit Enhancement Summary

                                                       Initial
Current         Current                           Current
Current            Current
                                                      Coverage
Period          Period      Cumulative          Coverage
Coverage               Pool
Type/Purpose                                            Amount
Losses       Additions          Losses        Percentage
Amount            Balance
______________________________________________________________
______________________________________________________________
_______________________________________
Subordination                                           120.20
0.00            0.00            0.00       1.95407002%
1,377,337.05      70,485,552.54

                             Principal
                          Distribution
Scheduled   Unscheduled
                                Amount    Percentage
Payment       Payment

___________________________________________________________
Senior                    1,380,469.01 100.00000000%
100.00000000% 100.00000000%
Subordinate                       0.00   0.00000000%
0.00000000%   0.00000000%

Report  9
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