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 Equicon Mortgage Loan Trust 1995-2
(Exact name of registrant as specified in its charter)
New York                                           33-96500
Applied For
(State or other jurisdiction       (Commission
(IRS
Employer
of incorporation or                       File Number)
Identification
organization)
Number)
c/o Norwest Bank Minnesota
National Association
Sixth Street & Marquette Avenue
Minneapolis,  Minnesota                      55479-0069
(Address of principal executive offices)
(Zip Code)
Registrant's telephone number including area code      (612)
9840979
                         Equicon Mortgage Loan Trust 1995-2
Form 8-K
INDEX
                                        Page Number Item 5.
Other Events                  3
               Item 7.             Financial Statements and
Exhibits
3
SIGNATURES                                             4
INDEX OF EXHIBITS                                      5
ITEM 5. OTHER EVENTS
The Equicon Mortgage Loan Trust 1995-2 makes monthly
remittances to security holders.  The latest remittance was
made May 20, 1996.  We have furnished a monthly remittance
statement delivered to the trustee with security holder
payment instructions.

Monthly Remittance
Statement...................................................
 . .....Exhib it 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.
                    Equicon Mortgage Loan Trust 1995-2
(Registrant)
By:  Norwest Bank of Minnesota, N.A. Name:     Kris Solie -
Johnson
                    Title:    Corporate Trust Officer
INDEX OF EXHIBITS
Page of Sequentially Numbered Pages
21.1 Monthly Remittance Statement dated                6-14
as of May 20, 1996.
EXHIBIT 21.1              PAGE 6


Equicon Mortgage Loan Trust 1995-2
Norwest Bank Minnesota, N.A.
Contact:
Carol Tracey
Securities Administration Services
Reporting   Month:         April 1996
Phone:
(410) 884-2117
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
____________________________________________________________
____________________________________________________________
______________________________ _____________ __ __ A-1
Senior    Sequential Pay   Fixed         35,000,000.00
6.45000000%
0.00
0.00           0.00
0.8294784200
A-2  Senior    Sequential Pay Fixed
21,000,000.00  6.50000000%    0.00 0.00
0.00
1.0000000000
A-3  Senior    Sequential Pay Fixed
10,000,000.00  6.75000000%    0.00 0.00
0.00
1.0000000000
A-4  Senior    Sequential Pay Fixed
8,000,000.00   7.10000000%    0.00 0.00
0.00
1.0000000000
A-5  Senior    Sequential Pay Fixed
5,287,000.00   7.40000000%    0.00 0.00
0.00
1.0000000000
A-6  Senior    Sequential Pay Variable
39,667,000.00  6.26833067%    0.00 0.00
0.00
0.8981797925
B Fixed  Subordinate     Sequential Pay Variable
567.57    1.36149600%    567.29    0.00
0.00
880.9486054584
B Vari    Subordinate    Sequential Pay Variable
142.78    878.82391200%  26.01     0.00
0.00
RU        Residual  Residual  Residual            0.00
0.00000000%    0.00 0.00
0.00
0.0000000000
____________________________________________________________
____________________________________________________________
______________________________ _____________ __
__ Totals                                     118,954,710.35
593.30    0.00
0.00
0.9273528793
     Report 1 05/16/96 --  3:18pm
     Page  1
     of  1
EXHIBIT 21.1             PAGE 7
                                   Equicon Mortgage Loan
Trust 1995-2


Norwest Bank Minnesota, N.A.
Contact:            Carol
Tracey
Securities Administration Services      Reporting   Month:
April 1996                Phone:           (410) 884-
2117
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
____________________________________________________________
____________________________________________________________
___________________ _____________ __ __ A-1  04/30/1996
6.45000000%      30,745,482.05         165,256.97
1,713,737.35    0.00
29,031,744.70
1,878,994.32
A-2    04/30/1996         6.50000000%      21,000,000.00
113,750.00               0.00    0.00      21,000,000.00
113,750.00
A-3    04/30/1996         6.75000000%      10,000,000.00
56,250.00           0.00    0.00      10,000,000.00
56,250.00
A-4    04/30/1996         7.10000000%       8,000,000.00
47,333.33           0.00    0.00       8,000,000.00
47,333.33
A-5    04/30/1996         7.40000000%       5,287,000.00
32,603.17           0.00    0.00       5,287,000.00


32,603.17
A-6        04/30/1996          6.26833067%
36,680,248.05         191,603.27       1,052,150.22
0.00 35,628,097.83
1,243,753.49
B Fixed    04/30/1996          1.36149600%
500,000.00     0.00         0.00       567.29
500,000.00
0.00
B Vari     04/30/1996        878.82391200%
500,000.00     0.00         0.00        26.01
866,150.62
0.00
RU         04/30/1996          0.00000000%
0.00 0.00         0.00         0.00              0.00
0.00
____________________________________________________________
____________________________________________________________
___________________ _____________ __
__ Totals                112,712,730.10         606,796.74
2,765,887.57       593.30     110,312,993.15
3,372,684.31
     Report 2 05/16/96 --  3:18pm
Page  1
     of
     1
EXHIBIT 21.1            PAGE 8
                    Equicon Mortgage Loan Trust 1995-2
Norwest Bank Minnesota, N.A.
Contact:
Carol Tracey
Securities Administration Services            Reporting
Month:         April 1996                Phone:
(410) 884-2117
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
____________________________________________________________
____________________________________________________________
______________ ___________ __ __ A-1    294419AU0
35,000,000.00            4.72162771     2.04194371
46.90577229
48.96392429    0.00000000
0.8294784200
A-2  294419AV8    21,000,000.00              5.41666667
0.00000000          0.00000000     0.00000000     0.00000000
1.0000000000
A-3  294419AW6    10,000,000.00              5.62500000
0.00000000          0.00000000     0.00000000     0.00000000
1.0000000000
A-4  294419AX4     8,000,000.00              5.91666625
0.00000000          0.00000000     0.00000000     0.00000000
1.0000000000
A-5  294419AY2     5,287,000.00              6.16666730
0.00000000          0.00000000     0.00000000     0.00000000
1.0000000000
A-6  294419AZ9    39,667,000.00              4.83029395
0.72368720     16.56961933    26.52457257    0.00000000
0.8981797925
B Fixed   N/A            567.57              0.00000000
0.00000000          0.00000000     0.00000000
999.50666878
880.9486054584
B Vari    N/A            142.78              0.00000000
0.00000000          0.00000000     0.00000000
182.16837092
6066.3301582855
RU        N/A       0.00                N/A       N/A
N/A       N/A       N/A
N/A
____________________________________________________________
____________________________________________________________
______________ ___________ __


__ Totals                    118,954,710.35
0.9273528793
     Report 3 05/16/96 --  3:18pm
     Page  1 of
     1
EXHIBIT 21.1                        PAGE 9
Equicon Mortgage Loan Trust 1995-2
Norwest Bank Minnesota, N.A.
Contact:
Carol Tracey
Securities Administration Services       Reporting   Month:
April 1996        Phone:
(410) 884-2117
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
____________________________________________________________
____________________________________________________________
___________________________ _____________ __ __ A-1
30,745,482.05            71,468.03         1,641,702.03
567.29    0.00     1,713,737.35
0.00    29,031,744.70
0.00
A-2            21,000,000.00  0.00           0.00 0.00 0.00
0.00 0.00    21,000,000.00
0.00
A-3            10,000,000.00  0.00           0.00 0.00 0.00
0.00 0.00    10,000,000.00
0.00
A-4             8,000,000.00  0.00           0.00 0.00 0.00
0.00 0.00     8,000,000.00
0.00
A-5             5,287,000.00  0.00           0.00 0.00 0.00
0.00 0.00     5,287,000.00
0.00
A-6            36,680,248.05        28,706.50
657,267.09       366,176.63   0.00     1,052,150.22    0.00
35,628,097.83
0.00
B Fixed           500,000.00               0.00         0.00
(567.29)             0.00             0.00           567.29
500,000.00
0.00
B Vari            500,000.00               0.00         0.00
(366,176.63)             0.00             0.00
26.01       866,150.62
0.00
RU             0.00              0.00         0.00
0.00             0.00             0.00             0.00
0.00
0.00
____________________________________________________________
____________________________________________________________
___________________________ _____________ __ __ Totals
112,712,730.10           100,174.53            2,298,969.12
0.00             0.00     2,765,887.57
593.30   110,312,993.15
0.00
*Principal Balance Reduction
Realized Losses Principal Balance Reduction
593.30


Negative Amortization Principal Balance Reduction
0.00
Other                                             0.00
     Report 4 05/16/96 --  3:18pm
Page  1
     of
     1
EXHIBIT 21.1                     PAGE 10
                                        Equicon Mortgage
Loan Trust 1995-2
Norwest Bank Minnesota, N.A.
Contact:
Carol Tracey
Securities Administration Services
Reporting   Month:        April 1996            Phone:
(410) 884-2117
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
____________________________________________________________
____________________________________________________________
____________________________________ _____
__ __ A-1 6.45000000%    30,745,482.05       165,256.97
0.00 0.00 0.00 0.00       165,256.97
29,031,744.70
A-2  6.50000000%    21,000,000.00       113,750.00     0.00
0.00 0.00 0.00       113,750.00
21,000,000.00
A-3  6.75000000%    10,000,000.00        56,250.00     0.00
0.00 0.00 0.00        56,250.00
10,000,000.00
A-4  7.10000000%     8,000,000.00        47,333.33     0.00
0.00 0.00 0.00        47,333.33
8,000,000.00
A-5  7.40000000%     5,287,000.00        32,603.17     0.00
0.00 0.00 0.00        32,603.17
5,287,000.00
A-6  6.26833067%    36,680,248.05       191,603.27     0.00
0.00 0.00 0.00       191,603.27
35,628,097.83
B Fixed   1.36149600%    500,000.00          567.29    0.00
567.29    0.00 0.00             0.00
500,000.00
B Vari    878.82391200%  500,000.00       366,176.63   0.00
366,176.63     0.00 0.00             0.00
866,150.62
RU        0.00000000%                   0.00           0.00
0.00 0.00 0.00 0.00             0.00
0.00
____________________________________________________________
____________________________________________________________
____________________________________ _____
__

__ Totals                                   973,540.66
0.00       366,743.92             0.00             0.00
606,796.74
Notes:
Class A-6 Interest is accrued @ LIBOR = 5.47656% over the
applicable accrual period.
     Report 5 05/16/96 --  3:18pm
Page  1
     of
     1
EXHIBIT 21.1                         PAGE 11
               Equicon Mortgage Loan Trust 1995-2
Norwest Bank Minnesota, N.A.
Contact:
Carol
Tracey
Securities Administration Services     Reporting   Month:
April 1996                         Phone:
(410) 884-
2117
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
973,540.66           Interest Payments
606,796.74
          Scheduled Principal
100,174.53           Scheduled Principal Payment
100,174.53
          Other Principal
2,298,969.12         Other Principal Payments
2,665,713.04
          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               3,372,684.31     Total
Withdrawals
3,372,684.31
                              Ending Balance
(0.00)
____________________________________________________________
____________________________________________________________
____________________________________ _____________
__ ___



     Report  6 05/16/96 --  3:18pm
     Page  1 of  1
EXHIBIT 21.1                                       PAGE 12
Equicon Mortgage Loan Trust 1995-2
Norwest Bank Minnesota, N.A.            Contact:
Carol Tracey
Securities Administration Services
Reporting   Month:         April 1996   Phone:
(410) 884-2117
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             565.58          565.58            0.00
0.00            0.00
565.58
565.58
2                         0.00            0.00
0.00              26.01           26.01            0.00
0.00            0.00
26.01
26.01
____________________________________________________________
____________________________________________________________
________________________________ _____________ __ __ Totals
0.00            0.00
0.00                  591.59          591.59            0.00
0.00            0.00
591.59
591.59
____________________________________________________________
____________________________________________________________
________________________________ ________
          30  Days  Delinquent    60  Days  Delinquent
90  Days  Delinquent             Foreclosures     REO's
Totals
               Number       Balance    Number       Balance
Number       Balance    Number       Balance    Number
Balance    Number
Balance 1                107  6,708,458.50        13
659,292.61        11    765,976.04        12    730,566.44
0          0.00       143
8,864,293.59
2                    46  4,305,202.49         8
742,617.22         7    701,015.04         3    538,000.00
0          0.00        64
6,286,834.75
____________________________________________________________
____________________________________________________________
________________________


_____________
___ Totals        153 11,013,660.99        21  1,401,909.83
18  1,466,991.08        15  1,268,566.44         0
0.00       207
15,151,128.34
     Report 7 05/16/96 --  3:18pm
     Page  1 of


     1
EXHIBIT 21.1                             PAGE 13
                    Equicon Mortgage Loan Trust 1995-2
Norwest Bank Minnesota, N.A.
Contact:                           Carol Tracey
Securities Administration Services    Reporting   Month:
April 1996              Phone:
(410) 884-
2117
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                 1,130,536.04|
763,973.57           366,562.47
                                        |
Positive Amortization                  100,174.53|
71,468.03            28,706.50
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               2,298,969.12|        1,641,702.03
657,267.09
Principal Adjustments                        0.00|     0.00
0.00
     Total Principal Trust Distribution
2,399,143.65|        1,713,170.06
685,973.59
                                        |
Scheduled Interest              1,030,361.51|
692,505.54
337,855.97
Servicing Fee                 40,197.21|           27,148.45
13,048.76
Master Servicing Fee                     2,583.00|
1,730.95
852.05
Spread                        0.00|     0.00
0.00
          Total Pass-Through Interest
973,540.66|          654,438.60
319,102.06
                                        |
Beginning Balance             112,712,730.10|
75,532,482.05
37,180,248.05
Ending Balance           110,312,993.15|       73,818,744.70
36,494,248.45
Gross P&I Distribution               3,389,307.95|
2,378,527.15
1,010,780.80
Realized Losses/(Gains)                    591.59|
565.58
26.01
Net P&I Trust Distribution                3,388,716.36|
2,377,961.57
1,010,754.79
                                        |
Beginning Loan Count                     1565|
1187
378
Number of Loan Payoffs                        33|  22
11
Ending Loan Count                   1532|
1165
367
                                        |
Weighted Average Maturity                 0.0000000000|
231.7100000000


345.5900000000
Weighted Average Gross Rate                  0.000000000%|
11.127000000%
10.933000000%
Weighted Average Net Rate
0.000000000%|       10.695687000%
10.511848641%
Weighted Average Pass-Through Rate      0.000000000%|
10.519500000%
10.325500000%
Weighted Average Margin                      0.000000000%|
0.000000000%
6.206400000%
                                        |
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 --  3:18pm


Page  1 of  1
EXHIBIT 21.1                      PAGE 14
Equicon Mortgage Loan Trust 1995-2
Norwest Bank Minnesota, N.A.
Contact:
Carol
Tracey
Securities Administration Services      Reporting Month:
April 1996                    Phone:
(410) 884-
2117
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
710.35         593.30            0.00          593.30
1.23843129%    1,366,150.62
110,312,993.15
               Principal
          Distribution              Scheduled
                    Unscheduled Amount  Percentage
                    Payment
Payment
___________________________________________________________
Senior 2,399,143.65 100.00000000% 100.00000000%
100.00000000%
Subordinate                0.00   0.00000000%
0.00000000%
0.00000000%



     Report 9 05/16/96 --  3:18pm
     Page  1 of
     1
_
[{"type": "8-K", "sequence": "1", "secsgml_size_bytes": 22766}]
{"company-data": {"conformed-name": "EQUICON MORTGAGE LOAN TRUST 1995-2", "cik": "0001002669", "assigned-sic": "6189", "irs-number": "526772802", "state-of-incorporation": "NY", "fiscal-year-end": "1231"}, "filing-values": {"form-type": "8-K", "act": "34", "file-number": "033-96500-01", "film-number": "96576667"}, "business-address": {"street1": "NORWEST BANK MINNESOTA SAS TAX DEPT", "street2": "11000 BROKEN LAND PKWY", "city": "COLUMBIA", "state": "MD", "zip": "21044", "phone": "4108842076"}, "mail-address": {"street1": "C/O NORWEST BANK MINNESOTA SAS TAX DEPT", "street2": "11000 BROKEN LAND PKWY", "city": "COLUMBIA", "state": "MD", "zip": "21044"}}
SECURITIES AND EXCHANGE COMMISSION Washington, D.C.  20549
___________________________ FORM 8-K CURRENT REPORT
PURSUANT TO SECTION 13 OR 15 (d) OF THE SECURITIES EXCHANGE
ACT OF 1934

Date of Report (Date of earliest event reported)  May 20,
1996 Equicon Mortgage Loan Trust 1995-2
(Exact name of registrant as specified in its charter)
New York                                           33-96500
Applied For
(State or other jurisdiction       (Commission
(IRS
Employer
of incorporation or                       File Number)
Identification
organization)
Number)
c/o Norwest Bank Minnesota
National Association
Sixth Street & Marquette Avenue
Minneapolis,  Minnesota                      55479-0069
(Address of principal executive offices)
(Zip Code)
Registrant's telephone number including area code      (612)
9840979
                         Equicon Mortgage Loan Trust 1995-2
Form 8-K
INDEX
                                        Page Number Item 5.
Other Events                  3
               Item 7.             Financial Statements and
Exhibits
3
SIGNATURES                                             4
INDEX OF EXHIBITS                                      5
ITEM 5. OTHER EVENTS
The Equicon Mortgage Loan Trust 1995-2 makes monthly
remittances to security holders.  The latest remittance was
made May 20, 1996.  We have furnished a monthly remittance
statement delivered to the trustee with security holder
payment instructions.

Monthly Remittance
Statement...................................................
 . .....Exhib it 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.
                    Equicon Mortgage Loan Trust 1995-2
(Registrant)
By:  Norwest Bank of Minnesota, N.A. Name:     Kris Solie -
Johnson
                    Title:    Corporate Trust Officer
INDEX OF EXHIBITS
Page of Sequentially Numbered Pages
21.1 Monthly Remittance Statement dated                6-14
as of May 20, 1996.
EXHIBIT 21.1              PAGE 6

Equicon Mortgage Loan Trust 1995-2
Norwest Bank Minnesota, N.A.
Contact:
Carol Tracey
Securities Administration Services
Reporting   Month:         April 1996
Phone:
(410) 884-2117
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
____________________________________________________________
____________________________________________________________
______________________________ _____________ __ __ A-1
Senior    Sequential Pay   Fixed         35,000,000.00
6.45000000%
0.00
0.00           0.00
0.8294784200
A-2  Senior    Sequential Pay Fixed
21,000,000.00  6.50000000%    0.00 0.00
0.00
1.0000000000
A-3  Senior    Sequential Pay Fixed
10,000,000.00  6.75000000%    0.00 0.00
0.00
1.0000000000
A-4  Senior    Sequential Pay Fixed
8,000,000.00   7.10000000%    0.00 0.00
0.00
1.0000000000
A-5  Senior    Sequential Pay Fixed
5,287,000.00   7.40000000%    0.00 0.00
0.00
1.0000000000
A-6  Senior    Sequential Pay Variable
39,667,000.00  6.26833067%    0.00 0.00
0.00
0.8981797925
B Fixed  Subordinate     Sequential Pay Variable
567.57    1.36149600%    567.29    0.00
0.00
880.9486054584
B Vari    Subordinate    Sequential Pay Variable
142.78    878.82391200%  26.01     0.00
0.00
RU        Residual  Residual  Residual            0.00
0.00000000%    0.00 0.00
0.00
0.0000000000
____________________________________________________________
____________________________________________________________
______________________________ _____________ __
__ Totals                                     118,954,710.35
593.30    0.00
0.00
0.9273528793
     Report 1 05/16/96 --  3:18pm
     Page  1
     of  1
EXHIBIT 21.1             PAGE 7
                                   Equicon Mortgage Loan
Trust 1995-2

Norwest Bank Minnesota, N.A.
Contact:            Carol
Tracey
Securities Administration Services      Reporting   Month:
April 1996                Phone:           (410) 884-
2117
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
____________________________________________________________
____________________________________________________________
___________________ _____________ __ __ A-1  04/30/1996
6.45000000%      30,745,482.05         165,256.97
1,713,737.35    0.00
29,031,744.70
1,878,994.32
A-2    04/30/1996         6.50000000%      21,000,000.00
113,750.00               0.00    0.00      21,000,000.00
113,750.00
A-3    04/30/1996         6.75000000%      10,000,000.00
56,250.00           0.00    0.00      10,000,000.00
56,250.00
A-4    04/30/1996         7.10000000%       8,000,000.00
47,333.33           0.00    0.00       8,000,000.00
47,333.33
A-5    04/30/1996         7.40000000%       5,287,000.00
32,603.17           0.00    0.00       5,287,000.00

32,603.17
A-6        04/30/1996          6.26833067%
36,680,248.05         191,603.27       1,052,150.22
0.00 35,628,097.83
1,243,753.49
B Fixed    04/30/1996          1.36149600%
500,000.00     0.00         0.00       567.29
500,000.00
0.00
B Vari     04/30/1996        878.82391200%
500,000.00     0.00         0.00        26.01
866,150.62
0.00
RU         04/30/1996          0.00000000%
0.00 0.00         0.00         0.00              0.00
0.00
____________________________________________________________
____________________________________________________________
___________________ _____________ __
__ Totals                112,712,730.10         606,796.74
2,765,887.57       593.30     110,312,993.15
3,372,684.31
     Report 2 05/16/96 --  3:18pm
Page  1
     of
     1
EXHIBIT 21.1            PAGE 8
                    Equicon Mortgage Loan Trust 1995-2
Norwest Bank Minnesota, N.A.
Contact:
Carol Tracey
Securities Administration Services            Reporting
Month:         April 1996                Phone:
(410) 884-2117
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
____________________________________________________________
____________________________________________________________
______________ ___________ __ __ A-1    294419AU0
35,000,000.00            4.72162771     2.04194371
46.90577229
48.96392429    0.00000000
0.8294784200
A-2  294419AV8    21,000,000.00              5.41666667
0.00000000          0.00000000     0.00000000     0.00000000
1.0000000000
A-3  294419AW6    10,000,000.00              5.62500000
0.00000000          0.00000000     0.00000000     0.00000000
1.0000000000
A-4  294419AX4     8,000,000.00              5.91666625
0.00000000          0.00000000     0.00000000     0.00000000
1.0000000000
A-5  294419AY2     5,287,000.00              6.16666730
0.00000000          0.00000000     0.00000000     0.00000000
1.0000000000
A-6  294419AZ9    39,667,000.00              4.83029395
0.72368720     16.56961933    26.52457257    0.00000000
0.8981797925
B Fixed   N/A            567.57              0.00000000
0.00000000          0.00000000     0.00000000
999.50666878
880.9486054584
B Vari    N/A            142.78              0.00000000
0.00000000          0.00000000     0.00000000
182.16837092
6066.3301582855
RU        N/A       0.00                N/A       N/A
N/A       N/A       N/A
N/A
____________________________________________________________
____________________________________________________________
______________ ___________ __

__ Totals                    118,954,710.35
0.9273528793
     Report 3 05/16/96 --  3:18pm
     Page  1 of
     1
EXHIBIT 21.1                        PAGE 9
Equicon Mortgage Loan Trust 1995-2
Norwest Bank Minnesota, N.A.
Contact:
Carol Tracey
Securities Administration Services       Reporting   Month:
April 1996        Phone:
(410) 884-2117
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
____________________________________________________________
____________________________________________________________
___________________________ _____________ __ __ A-1
30,745,482.05            71,468.03         1,641,702.03
567.29    0.00     1,713,737.35
0.00    29,031,744.70
0.00
A-2            21,000,000.00  0.00           0.00 0.00 0.00
0.00 0.00    21,000,000.00
0.00
A-3            10,000,000.00  0.00           0.00 0.00 0.00
0.00 0.00    10,000,000.00
0.00
A-4             8,000,000.00  0.00           0.00 0.00 0.00
0.00 0.00     8,000,000.00
0.00
A-5             5,287,000.00  0.00           0.00 0.00 0.00
0.00 0.00     5,287,000.00
0.00
A-6            36,680,248.05        28,706.50
657,267.09       366,176.63   0.00     1,052,150.22    0.00
35,628,097.83
0.00
B Fixed           500,000.00               0.00         0.00
(567.29)             0.00             0.00           567.29
500,000.00
0.00
B Vari            500,000.00               0.00         0.00
(366,176.63)             0.00             0.00
26.01       866,150.62
0.00
RU             0.00              0.00         0.00
0.00             0.00             0.00             0.00
0.00
0.00
____________________________________________________________
____________________________________________________________
___________________________ _____________ __ __ Totals
112,712,730.10           100,174.53            2,298,969.12
0.00             0.00     2,765,887.57
593.30   110,312,993.15
0.00
*Principal Balance Reduction
Realized Losses Principal Balance Reduction
593.30

Negative Amortization Principal Balance Reduction
0.00
Other                                             0.00
     Report 4 05/16/96 --  3:18pm
Page  1
     of
     1
EXHIBIT 21.1                     PAGE 10
                                        Equicon Mortgage
Loan Trust 1995-2
Norwest Bank Minnesota, N.A.
Contact:
Carol Tracey
Securities Administration Services
Reporting   Month:        April 1996            Phone:
(410) 884-2117
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
____________________________________________________________
____________________________________________________________
____________________________________ _____
__ __ A-1 6.45000000%    30,745,482.05       165,256.97
0.00 0.00 0.00 0.00       165,256.97
29,031,744.70
A-2  6.50000000%    21,000,000.00       113,750.00     0.00
0.00 0.00 0.00       113,750.00
21,000,000.00
A-3  6.75000000%    10,000,000.00        56,250.00     0.00
0.00 0.00 0.00        56,250.00
10,000,000.00
A-4  7.10000000%     8,000,000.00        47,333.33     0.00
0.00 0.00 0.00        47,333.33
8,000,000.00
A-5  7.40000000%     5,287,000.00        32,603.17     0.00
0.00 0.00 0.00        32,603.17
5,287,000.00
A-6  6.26833067%    36,680,248.05       191,603.27     0.00
0.00 0.00 0.00       191,603.27
35,628,097.83
B Fixed   1.36149600%    500,000.00          567.29    0.00
567.29    0.00 0.00             0.00
500,000.00
B Vari    878.82391200%  500,000.00       366,176.63   0.00
366,176.63     0.00 0.00             0.00
866,150.62
RU        0.00000000%                   0.00           0.00
0.00 0.00 0.00 0.00             0.00
0.00
____________________________________________________________
____________________________________________________________
____________________________________ _____
__

__ Totals                                   973,540.66
0.00       366,743.92             0.00             0.00
606,796.74
Notes:
Class A-6 Interest is accrued @ LIBOR = 5.47656% over the
applicable accrual period.
     Report 5 05/16/96 --  3:18pm
Page  1
     of
     1
EXHIBIT 21.1                         PAGE 11
               Equicon Mortgage Loan Trust 1995-2
Norwest Bank Minnesota, N.A.
Contact:
Carol
Tracey
Securities Administration Services     Reporting   Month:
April 1996                         Phone:
(410) 884-
2117
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
973,540.66           Interest Payments
606,796.74
          Scheduled Principal
100,174.53           Scheduled Principal Payment
100,174.53
          Other Principal
2,298,969.12         Other Principal Payments
2,665,713.04
          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               3,372,684.31     Total
Withdrawals
3,372,684.31
                              Ending Balance
(0.00)
____________________________________________________________
____________________________________________________________
____________________________________ _____________
__ ___

     Report  6 05/16/96 --  3:18pm
     Page  1 of  1
EXHIBIT 21.1                                       PAGE 12
Equicon Mortgage Loan Trust 1995-2
Norwest Bank Minnesota, N.A.            Contact:
Carol Tracey
Securities Administration Services
Reporting   Month:         April 1996   Phone:
(410) 884-2117
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             565.58          565.58            0.00
0.00            0.00
565.58
565.58
2                         0.00            0.00
0.00              26.01           26.01            0.00
0.00            0.00
26.01
26.01
____________________________________________________________
____________________________________________________________
________________________________ _____________ __ __ Totals
0.00            0.00
0.00                  591.59          591.59            0.00
0.00            0.00
591.59
591.59
____________________________________________________________
____________________________________________________________
________________________________ ________
          30  Days  Delinquent    60  Days  Delinquent
90  Days  Delinquent             Foreclosures     REO's
Totals
               Number       Balance    Number       Balance
Number       Balance    Number       Balance    Number
Balance    Number
Balance 1                107  6,708,458.50        13
659,292.61        11    765,976.04        12    730,566.44
0          0.00       143
8,864,293.59
2                    46  4,305,202.49         8
742,617.22         7    701,015.04         3    538,000.00
0          0.00        64
6,286,834.75
____________________________________________________________
____________________________________________________________
________________________

_____________
___ Totals        153 11,013,660.99        21  1,401,909.83
18  1,466,991.08        15  1,268,566.44         0
0.00       207
15,151,128.34
     Report 7 05/16/96 --  3:18pm
     Page  1 of

     1
EXHIBIT 21.1                             PAGE 13
                    Equicon Mortgage Loan Trust 1995-2
Norwest Bank Minnesota, N.A.
Contact:                           Carol Tracey
Securities Administration Services    Reporting   Month:
April 1996              Phone:
(410) 884-
2117
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                 1,130,536.04|
763,973.57           366,562.47
                                        |
Positive Amortization                  100,174.53|
71,468.03            28,706.50
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               2,298,969.12|        1,641,702.03
657,267.09
Principal Adjustments                        0.00|     0.00
0.00
     Total Principal Trust Distribution
2,399,143.65|        1,713,170.06
685,973.59
                                        |
Scheduled Interest              1,030,361.51|
692,505.54
337,855.97
Servicing Fee                 40,197.21|           27,148.45
13,048.76
Master Servicing Fee                     2,583.00|
1,730.95
852.05
Spread                        0.00|     0.00
0.00
          Total Pass-Through Interest
973,540.66|          654,438.60
319,102.06
                                        |
Beginning Balance             112,712,730.10|
75,532,482.05
37,180,248.05
Ending Balance           110,312,993.15|       73,818,744.70
36,494,248.45
Gross P&I Distribution               3,389,307.95|
2,378,527.15
1,010,780.80
Realized Losses/(Gains)                    591.59|
565.58
26.01
Net P&I Trust Distribution                3,388,716.36|
2,377,961.57
1,010,754.79
                                        |
Beginning Loan Count                     1565|
1187
378
Number of Loan Payoffs                        33|  22
11
Ending Loan Count                   1532|
1165
367
                                        |
Weighted Average Maturity                 0.0000000000|
231.7100000000

345.5900000000
Weighted Average Gross Rate                  0.000000000%|
11.127000000%
10.933000000%
Weighted Average Net Rate
0.000000000%|       10.695687000%
10.511848641%
Weighted Average Pass-Through Rate      0.000000000%|
10.519500000%
10.325500000%
Weighted Average Margin                      0.000000000%|
0.000000000%
6.206400000%
                                        |
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 --  3:18pm

Page  1 of  1
EXHIBIT 21.1                      PAGE 14
Equicon Mortgage Loan Trust 1995-2
Norwest Bank Minnesota, N.A.
Contact:
Carol
Tracey
Securities Administration Services      Reporting Month:
April 1996                    Phone:
(410) 884-
2117
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
710.35         593.30            0.00          593.30
1.23843129%    1,366,150.62
110,312,993.15
               Principal
          Distribution              Scheduled
                    Unscheduled Amount  Percentage
                    Payment
Payment
___________________________________________________________
Senior 2,399,143.65 100.00000000% 100.00000000%
100.00000000%
Subordinate                0.00   0.00000000%
0.00000000%
0.00000000%

     Report 9 05/16/96 --  3:18pm
     Page  1 of
     1
_