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)  May 20,
1996 Access Financial Mortgage Loan Trust, 1996-1


(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 Minnesta, N.A.


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
                    Access Financial Mortgage Loan Trust,
1996-1
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 Access Financial Mortgage Loan Trust, Series 1996-1
makes monthly remittances to security holders.  The latest
remittance was made May 20, 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 May 20, 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.
Access Financial Mortgage Loan Trust, 1996-1 (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 May 20, 1996.
EXHIBIT 21.1                            6
                                        Access Financial
Mortgage Loan Trust 1996-1
Norwest Bank Minnesota, N.A.
Contact:                    Michele Latimer
Securities Administration Services
Reporting   Month:         April 1996             Phone:
(410) 884-2100
11000 Broken Land Parkway
Distribution Date:       May 20, 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


____________________________________________________________
____________________________________________________________
_______________________________________________ A1  Senior
Sequential Pay      Fixed          44,000,000.00
5.70000000%         0.00 0.00               0.00
0.8864775639
A-2       Senior    Sequential Pay      Fixed
16,000,000.00  5.65000000%         0.00 0.00
0.00   1.0000000000
A-3       Senior    Sequential Pay      Fixed
20,000,000.00  5.80000000%         0.00 0.00
0.00   1.0000000000
A-4       Senior    Sequential Pay      Fixed
26,000,000.00  6.20000000%         0.00 0.00
0.00   1.0000000000
A-5       Senior    Sequential Pay      Fixed
13,588,000.00  7.05000000%         0.00 0.00
0.00   1.0000000000
A-6       Senior    Sequential Pay      Variable
55,452,000.00  6.26666667%         0.00 0.00
0.00   0.9611134147
B-Fixed  Subordinate     Sequential Pay      Variable
153.58    654.93845378%       0.00 0.00               0.00
B-Vari    Subordinate    Sequential Pay      Variable
737.64    25.65664600%        0.00 0.00               0.00
677.8374274714
RU        Residual  Residual       Residual            0.00
0.00000000%         0.00 0.00               0.00
0.0000000000
____________________________________________________________
____________________________________________________________
_______________________________________________


Totals
175,040,891.22                  0.00              0.00
0.00   0.9662809227

Report  1 05/16/96 -- 10:40am
Page  1 of  1
EXHIBIT 21.1             7
                                             Access
Financial Mortgage Loan Trust 1996-1
Norwest Bank Minnesota, N.A.
Contact:                    Michele Latimer


Securities Administration Services
Reporting   Month:         April 1996
Phone:                       (410) 884-2100
11000 Broken Land Parkway
Distribution Date:       May 20, 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
____________________________________________________________
____________________________________________________________
____________________________________ A1 04/30/1996
5.70000000%         40,690,175.38         193,278.33
1,685,162.57        0.00 39,005,012.81       1,878,440.90
A-2  04/30/1996          5.65000000%         16,000,000.00
75,333.33           0.00      0.00 16,000,000.00
75,333.33
A-3  04/30/1996          5.80000000%         20,000,000.00
96,666.67           0.00      0.00 20,000,000.00
96,666.67
A-4  04/30/1996          6.20000000%         26,000,000.00
134,333.33               0.00      0.00 26,000,000.00
134,333.33
A-5  04/30/1996          7.05000000%         13,588,000.00
79,829.50           0.00      0.00 13,588,000.00
79,829.50
A-6  04/30/1996          6.26666667%         53,931,430.47
281,641.91         635,769.40      0.00 53,295,661.07
917,411.31
B-Fixed   04/30/1996        654.93845378%
750,000.00         409,336.53           0.00      0.00
750,000.00         409,336.53
B-Vari    04/30/1996     25.65664600%
489,533.51         144,795.34           0.00      0.00
500,000.00         144,795.34
RU        04/30/1996          0.00000000%
0.00 0.00           0.00      0.00          0.00
0.00
____________________________________________________________
____________________________________________________________
____________________________________
Totals                               171,449,139.36
1,415,214.94       2,320,931.97         0.00
169,138,673.88       3,736,146.91

Report  2 05/16/96 -- 10:40am
Page  1 of  1
EXHIBIT 21.1                  8
                                   Access Financial Mortgage
Loan Trust 1996-1
Norwest Bank Minnesota, N.A.
Contact:                  Michele Latimer


Securities Administration Services           Reporting
Month:         April 1996                 Phone:
(410) 884-2100
11000 Broken Land Parkway
Distribution Date:       May 20, 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
____________________________________________________________
____________________________________________________________
_____________________________ A1   003916AA1
44,000,000.00                      4.39268932     3.15972659
35.13942273    38.29914932    0.00000000    0.8864775639
A-2       003916AB9              16,000,000.00
4.70833313     0.00000000          0.00000000     0.00000000
0.00000000    1.0000000000
A-3       003916AC7              20,000,000.00
4.83333350     0.00000000          0.00000000     0.00000000
0.00000000    1.0000000000
A-4       003916AD5              26,000,000.00
5.16666654     0.00000000          0.00000000     0.00000000
0.00000000    1.0000000000
A-5       003916AE3              13,588,000.00
5.87500000     0.00000000          0.00000000     0.00000000
0.00000000    1.0000000000
A-6       003916AF0              55,452,000.00
5.07902168     0.55460723     10.72186450    11.46522037
0.00000000    0.9611134147
B-Fixed        N/A                   153.58
0.00000000          0.00000000     0.00000000     0.00000000
4883.4483656726
B-Vari         N/A                   737.64 196295.40155089
0.00000000          0.00000000     0.00000000     0.00000000
677.8374274714
RU             N/A                           0.00
N/A           N/A              N/A      N/A       N/A
N/A
____________________________________________________________
____________________________________________________________
_____________________________
Totals                          175,040,891.22
0.9662809227




Report  3
     05/16/96 -- 10:40am
Page  1 of  1
EXHIBIT 21.1             9
                              Access Financial Mortgage Loan
Trust 1996-1
Norwest Bank Minnesota, N.A.
Contact:                    Michele Latimer
Securities Administration Services            Reporting
Month:         April 1996        Phone:
(410) 884-2100
11000 Broken Land Parkway                Distribution Date:
May 20, 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


____________________________________________________________
____________________________________________________________
____________________________________________ A1
40,690,175.38      139,027.97     1,546,134.60    0.00  0.00
1,685,162.57   0.00    39,005,012.81    0.00
A-2  16,000,000.00  0.00           0.00 0.00 0.00 0.00 0.00
16,000,000.00             0.00
A-3  20,000,000.00  0.00           0.00 0.00 0.00 0.00 0.00
20,000,000.00             0.00
A-4  26,000,000.00  0.00           0.00 0.00 0.00 0.00 0.00
26,000,000.00             0.00
A-5  13,588,000.00  0.00           0.00 0.00 0.00 0.00 0.00
13,588,000.00             0.00
A-6  53,931,430.47        30,754.08       594,548.83
10,466.49 0.00       635,769.40    0.00    53,295,661.07
0.00
B-Fixed      750,000.00  0.00           0.00 0.00 0.00 0.00
0.00       750,000.00             0.00
B-Vari       489,533.51  0.00           0.00
(10,466.49)    0.00 0.00 0.00       500,000.00
0.00
RU                  0.00 0.00           0.00 0.00 0.00 0.00
0.00             0.00             0.00
____________________________________________________________
____________________________________________________________
____________________________________________ Totals
171,449,139.36       169,782.05     2,140,683.43  0.00 0.00
2,320,931.97   0.00   169,138,673.88             0.00
*Principal Balance Reduction
Realized Losses Principal Balance Reduction
0.00


Negative Amortization Principal Balance Reduction
0.00
Other                                         0.00

Report  4 05/16/96 -- 10:40am
Page  1 of  1
EXHIBIT 21.1                     10
                              Access Financial Mortgage Loan
Trust 1996-1
Norwest Bank Minnesota, N.A.
Contact:                    Michele Latimer
Securities Administration Services
Reporting   Month:        April 1996                 Phone:
(410) 884-2100
11000 Broken Land Parkway
Distribution Date:      May 20, 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


____________________________________________________________
____________________________________________________________
_____________________________________________ A1
5.70000000%40,690,175.38      193,278.33          0.00
0.00 0.00 0.00       193,278.33    39,005,012.81
A-2       5.65000000%    16,000,000.00        75,333.33
0.00 0.00 0.00 0.00        75,333.33    16,000,000.00
A-3       5.80000000%    20,000,000.00        96,666.67
0.00 0.00 0.00 0.00        96,666.67    20,000,000.00
A-4       6.20000000%    26,000,000.00       134,333.33
0.00 0.00 0.00 0.00       134,333.33    26,000,000.00
A-5       7.05000000%    13,588,000.00        79,829.50
0.00 0.00 0.00 0.00        79,829.50    13,588,000.00
A-6       6.26666667%    53,931,430.47       281,641.91
0.00 0.00 0.00 0.00       281,641.91    53,295,661.07
B-Fixed   654.93845378%  750,000.00       409,336.53
0.00 0.00 0.00 0.00       409,336.53       750,000.00
B-Vari    25.65664600%   489,533.51        10,466.49
0.00        10,466.49       144,795.34  0.00
144,795.34       500,000.00
RU             0.00000000%                   0.00
0.00      0.00 0.00 0.00 0.00             0.00
0.00
____________________________________________________________
____________________________________________________________
_____________________________________________
Totals                                1,280,886.09
0.00        10,466.49       144,795.34  0.00
1,415,214.94
Notes:
Class A-6 Interest is accrued @ LIBOR = 5.50% over the
applicable accrual period.

Report  5 05/16/96 -- 10:40am
Page  1 of  1
EXHIBIT 21.1                                 11
                                                  Access
Financial Mortgage Loan Trust 1996-1


Norwest Bank Minnesota, N.A.
Contact:                        Michele Latimer
Securities Administration Services
Reporting   Month:         April 1996               Phone:
(410) 884-2100
11000 Broken Land Parkway
Distribution Date:       May 20, 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
1,425,681.43                   Interest Payments
1,415,214.94


          Scheduled Principal
169,782.05                     Scheduled Principal Payment
169,782.05
          Other Principal
2,140,683.43                   Other Principal Payments
2,151,149.92
          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
3,736,146.91        Total Withdrawals
3,736,146.91

Ending Balance
(0.00)
____________________________________________________________
____________________________________________________________
______________________________________________________




Report  6 05/16/96 -- 10:40a
Page  1 of  1
EXHIBIT 21.1                  12
                              Access Financial Mortgage Loan
Trust 1996-1
Norwest Bank Minnesota, N.A.            Contact:
Michele Latimer
Securities Administration Services    Reporting   Month:
April 1996     Phone:                           (410) 884-
2100
11000 Broken Land Parkway        Distribution Date:
May 20, 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            0.00            0.00
2                         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
1                   111  6,431,852.36        25
1,198,981.78         9    655,740.10         1     97,355.00
0          0.00       146       8,383,929.24


2                    31  3,641,823.50         6
709,654.88         5    379,650.00         1    141,300.00
0          0.00        43       4,872,428.38
____________________________________________________________
____________________________________________________________
________________________________________ Totals
142 10,073,675.86        31  1,908,636.66        14
1,035,390.10         2    238,655.00         0          0.00
189      13,256,357.62




Report  7 05/16/96 -- 10:40am
Page  1 of  1
EXHIBIT 21.1   13
               Access Financial Mortgage Loan Trust 1996-1
Norwest Bank Minnesota, N.A.
Contact:                        Michele Latimer


Securities Administration Services    Reporting   Month:
April 1996              Phone:
(410) 884-2100
11000 Broken Land Parkway        Distribution Date:
May 20, 1996              InvestorDirect:
(800) 605-4167
Columbia, MD 21044-7800
                    Collateral Summary - Issuing
                              Total|          Pool 1
Pool 2

____________________________________________________________
_____________________________________________ Monthly P&I
Constant            1,682,028.56|  1,186,882.66
495,145.90
                                        |
Positive Amortization                169,782.05|
139,027.97            30,754.08


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             2,140,683.43|  1,546,134.60
594,548.83
Principal Adjustments                        0.00|
0.00 0.00
     Total Principal Trust Distribution
2,310,465.48|  1,685,162.57           625,302.91
                                        |
Scheduled Interest            1,512,246.51|  1,047,854.69
464,391.82
Servicing Fee               60,321.36|     41,431.58
18,889.78
Master Servicing Fee                   3,929.05|
2,681.90             1,247.15
Spread                        0.00|          0.00 0.00
          Total Pass-Through Interest
1,425,681.43|    988,777.70           436,903.73
                                        |
Beginning Balance        171,449,139.36|      117,028,175.38
54,420,963.98
Ending Balance      169,138,673.88|      115,343,012.81
53,795,661.07
Gross P&I Distribution             3,762,390.63|
2,691,585.68         1,070,804.95
Realized Losses/(Gains)                      0.00|
0.00 0.00
Net P&I Trust Distribution              3,762,390.63|
2,691,585.68         1,070,804.95
                                        |
Beginning Loan Count                     2411|
1876 535
Number of Loan Payoffs                        34|       25
9
Ending Loan Count                   2377|            1851
526
                                        |
Weighted Average Maturity               0.0000000000|
232.6300000000       345.6800000000
Weighted Average Gross Rate             0.000000000%|
11.118200000%        10.070300000%
Weighted Average Net Rate               0.000000000%|
10.693400000%         9.653800000%
Weighted Average Pass-Through Rate           0.000000000%|
10.510700000%         9.462800000%
Weighted Average Margin            0.000000000%|
0.000000000%         5.955700000%
                                        |
Advances on Delinquencies                              |
     Current Period Principal
0.00|                0.00                 0.00
     Current Period Interest
0.00|                0.00                 0.00
                                             |
                                             |



Report  8
05/16/96 -- 10:40am
Page  1 of  1
EXHIBIT 21.1                  14
                              Access Financial Mortgage Loan
Trust 1996-1
Norwest Bank Minnesota, N.A.
Contact:                        Michele Latimer
Securities Administration Services           Reporting
Month:         April 1996                    Phone:
(410) 884-2100
11000 Broken Land Parkway
Distribution Date:       May 20, 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
891.22           0.00            0.00            0.00
0.73903855%    1,250,000.00     169,138,673.88
                    Principal
               Distribution               Scheduled
Unscheduled


                         Amount    Percentage
Payment       Payment

___________________________________________________________
Senior         2,310,465.48 100.00000000% 100.00000000%
100.00000000%
Subordinate                     0.00   0.00000000%
0.00000000%   0.00000000%




Report  9 05/16/96 -- 10:40am
Page  1 of  1
[{"type": "8-K", "sequence": "1", "secsgml_size_bytes": 23835}]
{"company-data": {"conformed-name": "ACCESS FINANCIAL MORTGAGE LOAN TRUST 1996-1", "cik": "0001008617", "assigned-sic": "6189", "state-of-incorporation": "NY", "fiscal-year-end": "1231"}, "filing-values": {"form-type": "8-K", "act": "34", "file-number": "033-96500-03", "film-number": "96591552"}, "business-address": {"street1": "C/O NORWEST BANK MINNESOTA NA", "street2": "1100 BROKEN LAND PARKWAY", "city": "COLUMBIA", "state": "MD", "zip": "21044", "phone": "4108842076"}}
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)  May 20,
1996 Access Financial Mortgage Loan Trust, 1996-1

(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 Minnesta, N.A.

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
                    Access Financial Mortgage Loan Trust,
1996-1
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 Access Financial Mortgage Loan Trust, Series 1996-1
makes monthly remittances to security holders.  The latest
remittance was made May 20, 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 May 20, 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.
Access Financial Mortgage Loan Trust, 1996-1 (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 May 20, 1996.
EXHIBIT 21.1                            6
                                        Access Financial
Mortgage Loan Trust 1996-1
Norwest Bank Minnesota, N.A.
Contact:                    Michele Latimer
Securities Administration Services
Reporting   Month:         April 1996             Phone:
(410) 884-2100
11000 Broken Land Parkway
Distribution Date:       May 20, 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

____________________________________________________________
____________________________________________________________
_______________________________________________ A1  Senior
Sequential Pay      Fixed          44,000,000.00
5.70000000%         0.00 0.00               0.00
0.8864775639
A-2       Senior    Sequential Pay      Fixed
16,000,000.00  5.65000000%         0.00 0.00
0.00   1.0000000000
A-3       Senior    Sequential Pay      Fixed
20,000,000.00  5.80000000%         0.00 0.00
0.00   1.0000000000
A-4       Senior    Sequential Pay      Fixed
26,000,000.00  6.20000000%         0.00 0.00
0.00   1.0000000000
A-5       Senior    Sequential Pay      Fixed
13,588,000.00  7.05000000%         0.00 0.00
0.00   1.0000000000
A-6       Senior    Sequential Pay      Variable
55,452,000.00  6.26666667%         0.00 0.00
0.00   0.9611134147
B-Fixed  Subordinate     Sequential Pay      Variable
153.58    654.93845378%       0.00 0.00               0.00
B-Vari    Subordinate    Sequential Pay      Variable
737.64    25.65664600%        0.00 0.00               0.00
677.8374274714
RU        Residual  Residual       Residual            0.00
0.00000000%         0.00 0.00               0.00
0.0000000000
____________________________________________________________
____________________________________________________________
_______________________________________________

Totals
175,040,891.22                  0.00              0.00
0.00   0.9662809227

Report  1 05/16/96 -- 10:40am
Page  1 of  1
EXHIBIT 21.1             7
                                             Access
Financial Mortgage Loan Trust 1996-1
Norwest Bank Minnesota, N.A.
Contact:                    Michele Latimer

Securities Administration Services
Reporting   Month:         April 1996
Phone:                       (410) 884-2100
11000 Broken Land Parkway
Distribution Date:       May 20, 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
____________________________________________________________
____________________________________________________________
____________________________________ A1 04/30/1996
5.70000000%         40,690,175.38         193,278.33
1,685,162.57        0.00 39,005,012.81       1,878,440.90
A-2  04/30/1996          5.65000000%         16,000,000.00
75,333.33           0.00      0.00 16,000,000.00
75,333.33
A-3  04/30/1996          5.80000000%         20,000,000.00
96,666.67           0.00      0.00 20,000,000.00
96,666.67
A-4  04/30/1996          6.20000000%         26,000,000.00
134,333.33               0.00      0.00 26,000,000.00
134,333.33
A-5  04/30/1996          7.05000000%         13,588,000.00
79,829.50           0.00      0.00 13,588,000.00
79,829.50
A-6  04/30/1996          6.26666667%         53,931,430.47
281,641.91         635,769.40      0.00 53,295,661.07
917,411.31
B-Fixed   04/30/1996        654.93845378%
750,000.00         409,336.53           0.00      0.00
750,000.00         409,336.53
B-Vari    04/30/1996     25.65664600%
489,533.51         144,795.34           0.00      0.00
500,000.00         144,795.34
RU        04/30/1996          0.00000000%
0.00 0.00           0.00      0.00          0.00
0.00
____________________________________________________________
____________________________________________________________
____________________________________
Totals                               171,449,139.36
1,415,214.94       2,320,931.97         0.00
169,138,673.88       3,736,146.91

Report  2 05/16/96 -- 10:40am
Page  1 of  1
EXHIBIT 21.1                  8
                                   Access Financial Mortgage
Loan Trust 1996-1
Norwest Bank Minnesota, N.A.
Contact:                  Michele Latimer

Securities Administration Services           Reporting
Month:         April 1996                 Phone:
(410) 884-2100
11000 Broken Land Parkway
Distribution Date:       May 20, 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
____________________________________________________________
____________________________________________________________
_____________________________ A1   003916AA1
44,000,000.00                      4.39268932     3.15972659
35.13942273    38.29914932    0.00000000    0.8864775639
A-2       003916AB9              16,000,000.00
4.70833313     0.00000000          0.00000000     0.00000000
0.00000000    1.0000000000
A-3       003916AC7              20,000,000.00
4.83333350     0.00000000          0.00000000     0.00000000
0.00000000    1.0000000000
A-4       003916AD5              26,000,000.00
5.16666654     0.00000000          0.00000000     0.00000000
0.00000000    1.0000000000
A-5       003916AE3              13,588,000.00
5.87500000     0.00000000          0.00000000     0.00000000
0.00000000    1.0000000000
A-6       003916AF0              55,452,000.00
5.07902168     0.55460723     10.72186450    11.46522037
0.00000000    0.9611134147
B-Fixed        N/A                   153.58
0.00000000          0.00000000     0.00000000     0.00000000
4883.4483656726
B-Vari         N/A                   737.64 196295.40155089
0.00000000          0.00000000     0.00000000     0.00000000
677.8374274714
RU             N/A                           0.00
N/A           N/A              N/A      N/A       N/A
N/A
____________________________________________________________
____________________________________________________________
_____________________________
Totals                          175,040,891.22
0.9662809227

Report  3
     05/16/96 -- 10:40am
Page  1 of  1
EXHIBIT 21.1             9
                              Access Financial Mortgage Loan
Trust 1996-1
Norwest Bank Minnesota, N.A.
Contact:                    Michele Latimer
Securities Administration Services            Reporting
Month:         April 1996        Phone:
(410) 884-2100
11000 Broken Land Parkway                Distribution Date:
May 20, 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

____________________________________________________________
____________________________________________________________
____________________________________________ A1
40,690,175.38      139,027.97     1,546,134.60    0.00  0.00
1,685,162.57   0.00    39,005,012.81    0.00
A-2  16,000,000.00  0.00           0.00 0.00 0.00 0.00 0.00
16,000,000.00             0.00
A-3  20,000,000.00  0.00           0.00 0.00 0.00 0.00 0.00
20,000,000.00             0.00
A-4  26,000,000.00  0.00           0.00 0.00 0.00 0.00 0.00
26,000,000.00             0.00
A-5  13,588,000.00  0.00           0.00 0.00 0.00 0.00 0.00
13,588,000.00             0.00
A-6  53,931,430.47        30,754.08       594,548.83
10,466.49 0.00       635,769.40    0.00    53,295,661.07
0.00
B-Fixed      750,000.00  0.00           0.00 0.00 0.00 0.00
0.00       750,000.00             0.00
B-Vari       489,533.51  0.00           0.00
(10,466.49)    0.00 0.00 0.00       500,000.00
0.00
RU                  0.00 0.00           0.00 0.00 0.00 0.00
0.00             0.00             0.00
____________________________________________________________
____________________________________________________________
____________________________________________ Totals
171,449,139.36       169,782.05     2,140,683.43  0.00 0.00
2,320,931.97   0.00   169,138,673.88             0.00
*Principal Balance Reduction
Realized Losses Principal Balance Reduction
0.00

Negative Amortization Principal Balance Reduction
0.00
Other                                         0.00

Report  4 05/16/96 -- 10:40am
Page  1 of  1
EXHIBIT 21.1                     10
                              Access Financial Mortgage Loan
Trust 1996-1
Norwest Bank Minnesota, N.A.
Contact:                    Michele Latimer
Securities Administration Services
Reporting   Month:        April 1996                 Phone:
(410) 884-2100
11000 Broken Land Parkway
Distribution Date:      May 20, 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

____________________________________________________________
____________________________________________________________
_____________________________________________ A1
5.70000000%40,690,175.38      193,278.33          0.00
0.00 0.00 0.00       193,278.33    39,005,012.81
A-2       5.65000000%    16,000,000.00        75,333.33
0.00 0.00 0.00 0.00        75,333.33    16,000,000.00
A-3       5.80000000%    20,000,000.00        96,666.67
0.00 0.00 0.00 0.00        96,666.67    20,000,000.00
A-4       6.20000000%    26,000,000.00       134,333.33
0.00 0.00 0.00 0.00       134,333.33    26,000,000.00
A-5       7.05000000%    13,588,000.00        79,829.50
0.00 0.00 0.00 0.00        79,829.50    13,588,000.00
A-6       6.26666667%    53,931,430.47       281,641.91
0.00 0.00 0.00 0.00       281,641.91    53,295,661.07
B-Fixed   654.93845378%  750,000.00       409,336.53
0.00 0.00 0.00 0.00       409,336.53       750,000.00
B-Vari    25.65664600%   489,533.51        10,466.49
0.00        10,466.49       144,795.34  0.00
144,795.34       500,000.00
RU             0.00000000%                   0.00
0.00      0.00 0.00 0.00 0.00             0.00
0.00
____________________________________________________________
____________________________________________________________
_____________________________________________
Totals                                1,280,886.09
0.00        10,466.49       144,795.34  0.00
1,415,214.94
Notes:
Class A-6 Interest is accrued @ LIBOR = 5.50% over the
applicable accrual period.

Report  5 05/16/96 -- 10:40am
Page  1 of  1
EXHIBIT 21.1                                 11
                                                  Access
Financial Mortgage Loan Trust 1996-1

Norwest Bank Minnesota, N.A.
Contact:                        Michele Latimer
Securities Administration Services
Reporting   Month:         April 1996               Phone:
(410) 884-2100
11000 Broken Land Parkway
Distribution Date:       May 20, 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
1,425,681.43                   Interest Payments
1,415,214.94

          Scheduled Principal
169,782.05                     Scheduled Principal Payment
169,782.05
          Other Principal
2,140,683.43                   Other Principal Payments
2,151,149.92
          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
3,736,146.91        Total Withdrawals
3,736,146.91

Ending Balance
(0.00)
____________________________________________________________
____________________________________________________________
______________________________________________________

Report  6 05/16/96 -- 10:40a
Page  1 of  1
EXHIBIT 21.1                  12
                              Access Financial Mortgage Loan
Trust 1996-1
Norwest Bank Minnesota, N.A.            Contact:
Michele Latimer
Securities Administration Services    Reporting   Month:
April 1996     Phone:                           (410) 884-
2100
11000 Broken Land Parkway        Distribution Date:
May 20, 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            0.00            0.00
2                         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
1                   111  6,431,852.36        25
1,198,981.78         9    655,740.10         1     97,355.00
0          0.00       146       8,383,929.24

2                    31  3,641,823.50         6
709,654.88         5    379,650.00         1    141,300.00
0          0.00        43       4,872,428.38
____________________________________________________________
____________________________________________________________
________________________________________ Totals
142 10,073,675.86        31  1,908,636.66        14
1,035,390.10         2    238,655.00         0          0.00
189      13,256,357.62

Report  7 05/16/96 -- 10:40am
Page  1 of  1
EXHIBIT 21.1   13
               Access Financial Mortgage Loan Trust 1996-1
Norwest Bank Minnesota, N.A.
Contact:                        Michele Latimer

Securities Administration Services    Reporting   Month:
April 1996              Phone:
(410) 884-2100
11000 Broken Land Parkway        Distribution Date:
May 20, 1996              InvestorDirect:
(800) 605-4167
Columbia, MD 21044-7800
                    Collateral Summary - Issuing
                              Total|          Pool 1
Pool 2

____________________________________________________________
_____________________________________________ Monthly P&I
Constant            1,682,028.56|  1,186,882.66
495,145.90
                                        |
Positive Amortization                169,782.05|
139,027.97            30,754.08

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             2,140,683.43|  1,546,134.60
594,548.83
Principal Adjustments                        0.00|
0.00 0.00
     Total Principal Trust Distribution
2,310,465.48|  1,685,162.57           625,302.91
                                        |
Scheduled Interest            1,512,246.51|  1,047,854.69
464,391.82
Servicing Fee               60,321.36|     41,431.58
18,889.78
Master Servicing Fee                   3,929.05|
2,681.90             1,247.15
Spread                        0.00|          0.00 0.00
          Total Pass-Through Interest
1,425,681.43|    988,777.70           436,903.73
                                        |
Beginning Balance        171,449,139.36|      117,028,175.38
54,420,963.98
Ending Balance      169,138,673.88|      115,343,012.81
53,795,661.07
Gross P&I Distribution             3,762,390.63|
2,691,585.68         1,070,804.95
Realized Losses/(Gains)                      0.00|
0.00 0.00
Net P&I Trust Distribution              3,762,390.63|
2,691,585.68         1,070,804.95
                                        |
Beginning Loan Count                     2411|
1876 535
Number of Loan Payoffs                        34|       25
9
Ending Loan Count                   2377|            1851
526
                                        |
Weighted Average Maturity               0.0000000000|
232.6300000000       345.6800000000
Weighted Average Gross Rate             0.000000000%|
11.118200000%        10.070300000%
Weighted Average Net Rate               0.000000000%|
10.693400000%         9.653800000%
Weighted Average Pass-Through Rate           0.000000000%|
10.510700000%         9.462800000%
Weighted Average Margin            0.000000000%|
0.000000000%         5.955700000%
                                        |
Advances on Delinquencies                              |
     Current Period Principal
0.00|                0.00                 0.00
     Current Period Interest
0.00|                0.00                 0.00
                                             |
                                             |

Report  8
05/16/96 -- 10:40am
Page  1 of  1
EXHIBIT 21.1                  14
                              Access Financial Mortgage Loan
Trust 1996-1
Norwest Bank Minnesota, N.A.
Contact:                        Michele Latimer
Securities Administration Services           Reporting
Month:         April 1996                    Phone:
(410) 884-2100
11000 Broken Land Parkway
Distribution Date:       May 20, 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
891.22           0.00            0.00            0.00
0.73903855%    1,250,000.00     169,138,673.88
                    Principal
               Distribution               Scheduled
Unscheduled

                         Amount    Percentage
Payment       Payment

___________________________________________________________
Senior         2,310,465.48 100.00000000% 100.00000000%
100.00000000%
Subordinate                     0.00   0.00000000%
0.00000000%   0.00000000%

Report  9 05/16/96 -- 10:40am
Page  1 of  1