SIGNATURES
                              
     Pursuant to the requirements of the Securities Exchange
Act of 1934, the registrant has duly caused this report to
be signed on its behalf by the undersigned thereunto duly
authorized.

                         Equivantage Home Equity Loan Trust
1995-2
                         (Registrant)

                         By:  Norwest Bank of Minnesota,
N.A.


                         Name:     Kris Solie - Johnson

                         Title:    Corporate Trust Officer



Equivantage Home Equity Loan Trust 1995-2
Norwest Bank Minnesota, N.A.
Contact:                           Randy Reider
Securities Administration Services
Reporting   Month:      February 1996
Phone:                           (410) 884-2111
11000 Broken Land Parkway
Distribution Date:     March 26, 1996
InvestorDirect:                  (800) 605-4167
Columbia, MD 21044-7800


Cover Page

                          Report Name
Report Number

____________________________________________________________
__                              ________________

                          Series Structure Summary
1

                          Class Distribution Summary
2

                          Class Distribution Per 1,000 of
Original Balance
3

                          Class Principal Distribution
4

                          Class Interest Distribution
5

                          Fund Account Summary
6

                          Loss/Delinquency Detail
7

                          Collateral Summary
8

                          Credit Enhancement Summary
9





















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



Equivantage Home Equity Loan Trust 1995-2
Norwest Bank Minnesota, N.A.
Contact:                           Randy Reider
Securities Administration Services
Reporting   Month:      February 1996
Phone:                           (410) 884-2111
11000 Broken Land Parkway
Distribution Date:     March 26, 1996
InvestorDirect:                  (800) 605-4167
Columbia, MD 21044-7800


Series Structure Summary


Aggregate Realized                             Aggregate
Ending
         Class
Original Principal                     Losses Principal
Aggregate Interest      Undistributed      Principal
Class    Description    Principal Type   Interest Type
Balance Pass Through Rate  Balance Reduction
Shortfall          Principal         Factor
____________________________________________________________
____________________________________________________________
_______________________________________________
A-1      Senior         Sequential Pay   Fixed
48,500,000.00       6.40000000%               0.00
0.00               0.00   0.9032648643
A-2      Senior         Sequential Pay   Fixed
20,000,000.00       6.85000000%               0.00
0.00               0.00   1.0000000000
A-3      Senior         Sequential Pay   Fixed
6,952,000.00       7.40000000%               0.00
0.00               0.00   1.0000000000
R        Residual       Residual         Residual
0.00       0.00000000%               0.00               0.00
0.00   0.0000000000
SUB.     Subordinate    Support          Accretion
120.20     393.43583480%               0.00
0.00               0.00
____________________________________________________________
____________________________________________________________
_______________________________________________
Totals
75,452,120.20                                 0.00
0.00               0.00   0.9524718637





































Report  1
   03/20/96 -- 12:45am
Page  1 of  1




Equivantage Home Equity Loan Trust 1995-2
Norwest Bank Minnesota, N.A.
Contact:                           Randy Reider
Securities Administration Services
Reporting   Month:      February 1996                Phone:
(410) 884-2111
11000 Broken Land Parkway
Distribution Date:     March 26, 1996
InvestorDirect:                  (800) 605-4167
Columbia, MD 21044-7800


Class Distribution Summary


Beginning
Principal             Ending
                              Pass Through
Principal     Total Interest    Total Principal
Balance          Principal              Total
Class      Record Date                Rate
Balance       Distribution       Distribution
Reduction            Balance       Distribution
____________________________________________________________
____________________________________________________________
____________________________________
A-1        02/29/1996          6.40000000%
45,214,665.96         241,144.89       1,406,320.04
0.00      43,808,345.92       1,647,464.93
A-2        02/29/1996          6.85000000%
20,000,000.00         114,166.67               0.00
0.00      20,000,000.00         114,166.67
A-3        02/29/1996          7.40000000%
6,952,000.00          42,870.67               0.00
0.00       6,952,000.00          42,870.67
R          02/29/1996          0.00000000%
0.00               0.00               0.00
0.00               0.00               0.00
SUB.       02/29/1996        393.43583480%
832,672.85               0.00               0.00
0.00       1,105,675.63               0.00
____________________________________________________________
____________________________________________________________
____________________________________
Totals
72,999,338.81         398,182.23       1,406,320.04
0.00      71,866,021.55       1,804,502.27





































Report  2
   03/20/96 -- 12:45am
Page  1 of  1



                                              Equivantage
Home Equity Loan Trust 1995-2
Norwest Bank Minnesota, N.A.
Contact:                           Randy Reider
Securities Administration Services              Reporting
Month:      February 1996             Phone:
(410) 884-2111
11000 Broken Land Parkway                       Distribution
Date:     March 26, 1996             InvestorDirect:
(800) 605-4167
Columbia, MD 21044-7800

                                          Class Distribution
Per 1,000 of Original Balance


Total Other
                                                       Total
Interest       Scheduled       Principal Total Principal
Principal          Ending

Distribution       Principal    Distribution    Distribution
Balance       Principal
Class            Cusip               Original Balance
Factor          Factor          Factor          Factor
Reduction          Factor
____________________________________________________________
____________________________________________________________
_____________________________
A-1              29476YAC3              48,500,000.00
4.97205959      1.60109773     21.76626845     28.99628948
0.00000000    0.9032648643
A-2              29476YAD1              20,000,000.00
5.70833350      0.00000000      0.00000000      0.00000000
0.00000000    1.0000000000
A-3              29476YAE9               6,952,000.00
6.16666715      0.00000000      0.00000000      0.00000000
0.00000000    1.0000000000
R                N/A                             0.00
N/A             N/A             N/A             N/A
N/A             N/A
SUB.             N/A                           120.20
0.00000000      0.00000000      0.00000000      0.00000000
0.00000000 9198.6325291181
____________________________________________________________
____________________________________________________________
_____________________________
Totals                                  75,452,120.20
0.9524718637




































Report  3
   03/20/96 -- 12:45am
Page  1 of  1




Equivantage Home Equity Loan Trust 1995-2
Norwest Bank Minnesota, N.A.
Contact:                           Randy Reider
Securities Administration Services
Reporting   Month:      February 1996
Phone:                           (410) 884-2111
11000 Broken Land Parkway
Distribution Date:     March 26, 1996
InvestorDirect:                  (800) 605-4167
Columbia, MD 21044-7800


Class Principal Distribution

                   Beginning
Principal           Ending          Current
                   Principal        Scheduled
Unscheduled                             Other  Total
Principal          Balance        Principal    Undistributed
Class                Balance        Principal
Principal        Accretion        Principal     Distribution
Reduction*          Balance        Principal
____________________________________________________________
____________________________________________________________
____________________________________________
A-1            45,214,665.96        77,653.24
1,055,664.02       273,002.78             0.00
1,406,320.04             0.00    43,808,345.92
0.00
A-2            20,000,000.00             0.00
0.00             0.00             0.00             0.00
0.00    20,000,000.00             0.00
A-3             6,952,000.00             0.00
0.00             0.00             0.00             0.00
0.00     6,952,000.00             0.00
R                       0.00             0.00
0.00             0.00             0.00             0.00
0.00             0.00             0.00
SUB.              832,672.85             0.00
0.00     (273,002.78)             0.00             0.00
0.00     1,105,675.63             0.00
____________________________________________________________
____________________________________________________________
____________________________________________
Totals         72,999,338.81        77,653.24
1,055,664.02             0.00             0.00
1,406,320.04             0.00    71,866,021.55
0.00


*Principal Balance Reduction

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
























Notes:
Accretion Amount represents the Subordination Increase
Amount.




Report  4
   03/20/96 -- 12:45am
Page  1 of  1




Equivantage Home Equity Loan Trust 1995-2
Norwest Bank Minnesota, N.A.
Contact:                           Randy Reider
Securities Administration Services
Reporting   Month:      February 1996
Phone:                           (410) 884-2111
11000 Broken Land Parkway
Distribution Date:     March 26, 1996
InvestorDirect:                  (800) 605-4167
Columbia, MD 21044-7800


Class Interest Distribution

                                     Beginning
Negative                            Ending
                                    Principal/
Interest                                       Amortization
Principal/
                                      Notional
Interest       Shortfall/                             Other
Interest   Total Interest         Notional
Class       Pass-Through Rate          Balance
Accrual       (Recovery)        Accretion         Interest
Reduction     Distribution          Balance
____________________________________________________________
____________________________________________________________
_____________________________________________
A-1               6.40000000%    45,214,665.96
241,144.89             0.00             0.00
0.00             0.00       241,144.89    43,808,345.92
A-2               6.85000000%    20,000,000.00
114,166.67             0.00             0.00
0.00             0.00       114,166.67    20,000,000.00
A-3               7.40000000%     6,952,000.00
42,870.67             0.00             0.00             0.00
0.00        42,870.67     6,952,000.00
R                 0.00000000%             0.00
0.00             0.00             0.00             0.00
0.00             0.00             0.00
SUB.            393.43583480%       832,672.85
273,002.78             0.00       273,002.78
0.00             0.00             0.00     1,105,675.63
____________________________________________________________
____________________________________________________________
_____________________________________________
Totals
671,185.01             0.00       273,002.78
0.00             0.00       398,182.23





























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





Report  5
   03/20/96 -- 12:45am
Page  1 of  1




Equivantage Home Equity Loan Trust 1995-2
Norwest Bank Minnesota, N.A.
Contact:                           Randy Reider
Securities Administration Services
Reporting   Month:      February 1996
Phone:                           (410) 884-2111
11000 Broken Land Parkway
Distribution Date:     March 26, 1996
InvestorDirect:                  (800) 605-4167
Columbia, MD 21044-7800


Fund Account Summary

____________________________________________________________
____________________________________________________________
______________________________________________________

Proceeds Account
   Beginning Balance
0.00

   DEPOSITS:
WITHDRAWALS:
    Interest Net of Servicing Fee                 683,270.01
Interest Payments                                398,182.23
    Scheduled Principal                            77,653.24
Scheduled Principal Payment                       77,653.24
    Other Principal                             1,055,664.02
Other Principal Payments                       1,328,666.80
    Negative Amortization                               0.00
Reserve Fund 1                                         0.00
    Deposits from Reserve Fund                          0.00
Fees and Expenses                                 12,085.00
    Gain/Loss Adjustment                                0.00
Other Withdrawals                                      0.00
    Other Deposits                                      0.00

   Total Deposit
1,816,587.27                Total Withdrawals
1,816,587.27


Ending Balance
0.00
____________________________________________________________
____________________________________________________________
______________________________________________________






























Report  6
   03/20/96 -- 12:45am
Page  1 of  1




Equivantage Home Equity Loan Trust 1995-2
Norwest Bank Minnesota, N.A.
Contact:                           Randy Reider
Securities Administration Services
Reporting   Month:      February 1996
Phone:                           (410) 884-2111
11000 Broken Land Parkway
Distribution Date:     March 26, 1996
InvestorDirect:                  (800) 605-4167
Columbia, MD 21044-7800


Loss/Delinquency Detail

                  Current         Current         Current
Current           Total       Aggregate       Aggregate
Aggregate       Aggregate           Total
                    Fraud      Bankruptcy  Special Hazard
Credit         Current           Fraud      Bankruptcy
Special Hazard          Credit       Aggregate
Pool #             Losses          Losses          Losses
Losses          Losses          Losses          Losses
Losses          Losses          Losses
____________________________________________________________
____________________________________________________________
_________________________________________________

X                    0.00            0.00            0.00
0.00            0.00            0.00            0.00
0.00            0.00            0.00
____________________________________________________________
____________________________________________________________
_________________________________________________
Totals               0.00            0.00            0.00
0.00            0.00            0.00            0.00
0.00            0.00            0.00





____________________________________________________________
____________________________________________________________
________________________________________
             30  Days  Delinquent    60  Days  Delinquent
90  Days  Delinquent             Foreclosures
REO's                      Totals
               Number       Balance    Number       Balance
Number       Balance    Number       Balance    Number
Balance    Number            Balance
X                  34  1,441,966.05         3    176,983.45
16    872,344.27        15  1,120,240.56         0
0.00        68       3,611,534.33
                    0          0.00         0          0.00
0          0.00         0          0.00         0
0.00         0               0.00
____________________________________________________________
____________________________________________________________
________________________________________
Totals             34  1,441,966.05         3    176,983.45
16    872,344.27        15  1,120,240.56         0
0.00        68       3,611,534.33




























Report  7
   03/20/96 -- 12:45am
Page  1 of  1



                                               Equivantage
Home Equity Loan Trust 1995-2
Norwest Bank Minnesota, N.A.
Contact:                           Randy Reider
Securities Administration Services               Reporting
Month:      February 1996              Phone:
(410) 884-2111
11000 Broken Land Parkway
Distribution Date:     March 26, 1996
InvestorDirect:                  (800) 605-4167
Columbia, MD 21044-7800


Collateral Summary


Total|              Pool X

____________________________________________________________
_____________________________________________
Monthly P&I Constant
790,599.82|          790,599.82

|
Positive Amortization
77,653.24|           77,653.24
Negative Amortization
0.00|                0.00
Regular Curtailments
108,240.58|          108,240.58
Regular Curtailment Interest
0.00|                0.00
Prepaid Curtailments
0.00|                0.00
Prepaid Curtailment Interest
0.00|                0.00
Liquidations
947,423.44|          947,423.44
Principal Adjustments
0.00|                0.00
   Total Principal Trust Distribution
1,133,317.26|        1,133,317.26

|
Scheduled Interest
712,946.58|          712,946.58
Servicing Fee
29,676.57|           29,676.57
Master Servicing Fee
2,613.90|            2,613.90
Spread
0.00|                0.00
     Total Pass-Through Interest
671,185.00|          671,185.00

|
Beginning Balance
72,999,338.81|       72,999,338.81
Ending Balance
71,866,021.55|       71,866,021.55
Gross P&I Distribution
1,816,587.27|        1,816,587.27
Realized Losses/(Gains)
0.00|                0.00
Net P&I Trust Distribution
1,816,587.27|        1,816,587.27

|
Beginning Loan Count
1494|                1494
Number of Loan Payoffs
23|                  23
Ending Loan Count
1471|                1471

|
Weighted Average Maturity
236.0000000000|      236.0000000000
Weighted Average Gross Rate
11.719775950%|       11.719775950%
Weighted Average Net Rate
11.231937510%|       11.231937510%
Weighted Average Pass-Through Rate
11.033278010%|       11.033278010%
Weighted Average Margin
0.000000000%|        0.000000000%

|
Advances on Delinquencies
|
  Current Period Principal
0.00|                0.00
  Current Period Interest
749,110.00|          749,110.00

|

|







Report  8
   03/20/96 -- 12:45am
Page  1 of  1




Equivantage Home Equity Loan Trust 1995-2
Norwest Bank Minnesota, N.A.
Contact:                           Randy Reider
Securities Administration Services
Reporting   Month:      February 1996
Phone:                           (410) 884-2111
11000 Broken Land Parkway
Distribution Date:     March 26, 1996
InvestorDirect:                  (800) 605-4167
Columbia, MD 21044-7800


Credit Enhancement Summary


Initial         Current         Current
Current         Current            Current

Coverage          Period          Period      Cumulative
Coverage        Coverage               Pool
Type/Purpose
Amount          Losses       Additions          Losses
Percentage          Amount            Balance
____________________________________________________________
____________________________________________________________
___________________________________________
Subordination
120.20            0.00            0.00            0.00
1.53852350%    1,105,675.63      71,866,021.55





                             Principal
                          Distribution
Scheduled   Unscheduled
                                Amount    Percentage
Payment       Payment

___________________________________________________________
Senior                    1,133,317.26 100.00000000%
100.00000000% 100.00000000%
Subordinate                       0.00   0.00000000%
0.00000000%   0.00000000%
































Report  9
   03/20/96 -- 12:46am
Page  1 of  1
[{"type": "8-K", "sequence": "1", "secsgml_size_bytes": 20309}]
{"company-data": {"conformed-name": "EQUIVANTAGE HOME EQUITY LOAN TRUST 1995-2", "cik": "0001004024", "assigned-sic": "[]", "state-of-incorporation": "NY", "fiscal-year-end": "1231"}, "filing-values": {"form-type": "8-K", "act": "34", "file-number": "033-87040-02", "film-number": "96547941"}, "business-address": {"street1": "C/O NORWEST BANK MINNESOTA TAX DEPT", "street2": "11000 BROKEN LAND PKWY", "city": "COLUMBIA", "state": "MD", "zip": "21044", "phone": "4108842076"}, "mail-address": {"street1": "C/O NORWEST BANK MINNESOTA TAX DEPT", "street2": "11000 BROKEN LAND PKWY", "city": "COLUMBIA", "state": "MD", "zip": "21044"}}
SIGNATURES
                              
     Pursuant to the requirements of the Securities Exchange
Act of 1934, the registrant has duly caused this report to
be signed on its behalf by the undersigned thereunto duly
authorized.

                         Equivantage Home Equity Loan Trust
1995-2
                         (Registrant)

                         By:  Norwest Bank of Minnesota,
N.A.

                         Name:     Kris Solie - Johnson

                         Title:    Corporate Trust Officer

Equivantage Home Equity Loan Trust 1995-2
Norwest Bank Minnesota, N.A.
Contact:                           Randy Reider
Securities Administration Services
Reporting   Month:      February 1996
Phone:                           (410) 884-2111
11000 Broken Land Parkway
Distribution Date:     March 26, 1996
InvestorDirect:                  (800) 605-4167
Columbia, MD 21044-7800

Cover Page

                          Report Name
Report Number

____________________________________________________________
__                              ________________

                          Series Structure Summary
1

                          Class Distribution Summary
2

                          Class Distribution Per 1,000 of
Original Balance
3

                          Class Principal Distribution
4

                          Class Interest Distribution
5

                          Fund Account Summary
6

                          Loss/Delinquency Detail
7

                          Collateral Summary
8

                          Credit Enhancement Summary
9

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

Equivantage Home Equity Loan Trust 1995-2
Norwest Bank Minnesota, N.A.
Contact:                           Randy Reider
Securities Administration Services
Reporting   Month:      February 1996
Phone:                           (410) 884-2111
11000 Broken Land Parkway
Distribution Date:     March 26, 1996
InvestorDirect:                  (800) 605-4167
Columbia, MD 21044-7800

Series Structure Summary

Aggregate Realized                             Aggregate
Ending
         Class
Original Principal                     Losses Principal
Aggregate Interest      Undistributed      Principal
Class    Description    Principal Type   Interest Type
Balance Pass Through Rate  Balance Reduction
Shortfall          Principal         Factor
____________________________________________________________
____________________________________________________________
_______________________________________________
A-1      Senior         Sequential Pay   Fixed
48,500,000.00       6.40000000%               0.00
0.00               0.00   0.9032648643
A-2      Senior         Sequential Pay   Fixed
20,000,000.00       6.85000000%               0.00
0.00               0.00   1.0000000000
A-3      Senior         Sequential Pay   Fixed
6,952,000.00       7.40000000%               0.00
0.00               0.00   1.0000000000
R        Residual       Residual         Residual
0.00       0.00000000%               0.00               0.00
0.00   0.0000000000
SUB.     Subordinate    Support          Accretion
120.20     393.43583480%               0.00
0.00               0.00
____________________________________________________________
____________________________________________________________
_______________________________________________
Totals
75,452,120.20                                 0.00
0.00               0.00   0.9524718637

Report  1
   03/20/96 -- 12:45am
Page  1 of  1

Equivantage Home Equity Loan Trust 1995-2
Norwest Bank Minnesota, N.A.
Contact:                           Randy Reider
Securities Administration Services
Reporting   Month:      February 1996                Phone:
(410) 884-2111
11000 Broken Land Parkway
Distribution Date:     March 26, 1996
InvestorDirect:                  (800) 605-4167
Columbia, MD 21044-7800

Class Distribution Summary

Beginning
Principal             Ending
                              Pass Through
Principal     Total Interest    Total Principal
Balance          Principal              Total
Class      Record Date                Rate
Balance       Distribution       Distribution
Reduction            Balance       Distribution
____________________________________________________________
____________________________________________________________
____________________________________
A-1        02/29/1996          6.40000000%
45,214,665.96         241,144.89       1,406,320.04
0.00      43,808,345.92       1,647,464.93
A-2        02/29/1996          6.85000000%
20,000,000.00         114,166.67               0.00
0.00      20,000,000.00         114,166.67
A-3        02/29/1996          7.40000000%
6,952,000.00          42,870.67               0.00
0.00       6,952,000.00          42,870.67
R          02/29/1996          0.00000000%
0.00               0.00               0.00
0.00               0.00               0.00
SUB.       02/29/1996        393.43583480%
832,672.85               0.00               0.00
0.00       1,105,675.63               0.00
____________________________________________________________
____________________________________________________________
____________________________________
Totals
72,999,338.81         398,182.23       1,406,320.04
0.00      71,866,021.55       1,804,502.27

Report  2
   03/20/96 -- 12:45am
Page  1 of  1

                                              Equivantage
Home Equity Loan Trust 1995-2
Norwest Bank Minnesota, N.A.
Contact:                           Randy Reider
Securities Administration Services              Reporting
Month:      February 1996             Phone:
(410) 884-2111
11000 Broken Land Parkway                       Distribution
Date:     March 26, 1996             InvestorDirect:
(800) 605-4167
Columbia, MD 21044-7800

                                          Class Distribution
Per 1,000 of Original Balance

Total Other
                                                       Total
Interest       Scheduled       Principal Total Principal
Principal          Ending

Distribution       Principal    Distribution    Distribution
Balance       Principal
Class            Cusip               Original Balance
Factor          Factor          Factor          Factor
Reduction          Factor
____________________________________________________________
____________________________________________________________
_____________________________
A-1              29476YAC3              48,500,000.00
4.97205959      1.60109773     21.76626845     28.99628948
0.00000000    0.9032648643
A-2              29476YAD1              20,000,000.00
5.70833350      0.00000000      0.00000000      0.00000000
0.00000000    1.0000000000
A-3              29476YAE9               6,952,000.00
6.16666715      0.00000000      0.00000000      0.00000000
0.00000000    1.0000000000
R                N/A                             0.00
N/A             N/A             N/A             N/A
N/A             N/A
SUB.             N/A                           120.20
0.00000000      0.00000000      0.00000000      0.00000000
0.00000000 9198.6325291181
____________________________________________________________
____________________________________________________________
_____________________________
Totals                                  75,452,120.20
0.9524718637

Report  3
   03/20/96 -- 12:45am
Page  1 of  1

Equivantage Home Equity Loan Trust 1995-2
Norwest Bank Minnesota, N.A.
Contact:                           Randy Reider
Securities Administration Services
Reporting   Month:      February 1996
Phone:                           (410) 884-2111
11000 Broken Land Parkway
Distribution Date:     March 26, 1996
InvestorDirect:                  (800) 605-4167
Columbia, MD 21044-7800

Class Principal Distribution

                   Beginning
Principal           Ending          Current
                   Principal        Scheduled
Unscheduled                             Other  Total
Principal          Balance        Principal    Undistributed
Class                Balance        Principal
Principal        Accretion        Principal     Distribution
Reduction*          Balance        Principal
____________________________________________________________
____________________________________________________________
____________________________________________
A-1            45,214,665.96        77,653.24
1,055,664.02       273,002.78             0.00
1,406,320.04             0.00    43,808,345.92
0.00
A-2            20,000,000.00             0.00
0.00             0.00             0.00             0.00
0.00    20,000,000.00             0.00
A-3             6,952,000.00             0.00
0.00             0.00             0.00             0.00
0.00     6,952,000.00             0.00
R                       0.00             0.00
0.00             0.00             0.00             0.00
0.00             0.00             0.00
SUB.              832,672.85             0.00
0.00     (273,002.78)             0.00             0.00
0.00     1,105,675.63             0.00
____________________________________________________________
____________________________________________________________
____________________________________________
Totals         72,999,338.81        77,653.24
1,055,664.02             0.00             0.00
1,406,320.04             0.00    71,866,021.55
0.00

*Principal Balance Reduction

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

Notes:
Accretion Amount represents the Subordination Increase
Amount.

Report  4
   03/20/96 -- 12:45am
Page  1 of  1

Equivantage Home Equity Loan Trust 1995-2
Norwest Bank Minnesota, N.A.
Contact:                           Randy Reider
Securities Administration Services
Reporting   Month:      February 1996
Phone:                           (410) 884-2111
11000 Broken Land Parkway
Distribution Date:     March 26, 1996
InvestorDirect:                  (800) 605-4167
Columbia, MD 21044-7800

Class Interest Distribution

                                     Beginning
Negative                            Ending
                                    Principal/
Interest                                       Amortization
Principal/
                                      Notional
Interest       Shortfall/                             Other
Interest   Total Interest         Notional
Class       Pass-Through Rate          Balance
Accrual       (Recovery)        Accretion         Interest
Reduction     Distribution          Balance
____________________________________________________________
____________________________________________________________
_____________________________________________
A-1               6.40000000%    45,214,665.96
241,144.89             0.00             0.00
0.00             0.00       241,144.89    43,808,345.92
A-2               6.85000000%    20,000,000.00
114,166.67             0.00             0.00
0.00             0.00       114,166.67    20,000,000.00
A-3               7.40000000%     6,952,000.00
42,870.67             0.00             0.00             0.00
0.00        42,870.67     6,952,000.00
R                 0.00000000%             0.00
0.00             0.00             0.00             0.00
0.00             0.00             0.00
SUB.            393.43583480%       832,672.85
273,002.78             0.00       273,002.78
0.00             0.00             0.00     1,105,675.63
____________________________________________________________
____________________________________________________________
_____________________________________________
Totals
671,185.01             0.00       273,002.78
0.00             0.00       398,182.23

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

Report  5
   03/20/96 -- 12:45am
Page  1 of  1

Equivantage Home Equity Loan Trust 1995-2
Norwest Bank Minnesota, N.A.
Contact:                           Randy Reider
Securities Administration Services
Reporting   Month:      February 1996
Phone:                           (410) 884-2111
11000 Broken Land Parkway
Distribution Date:     March 26, 1996
InvestorDirect:                  (800) 605-4167
Columbia, MD 21044-7800

Fund Account Summary

____________________________________________________________
____________________________________________________________
______________________________________________________

Proceeds Account
   Beginning Balance
0.00

   DEPOSITS:
WITHDRAWALS:
    Interest Net of Servicing Fee                 683,270.01
Interest Payments                                398,182.23
    Scheduled Principal                            77,653.24
Scheduled Principal Payment                       77,653.24
    Other Principal                             1,055,664.02
Other Principal Payments                       1,328,666.80
    Negative Amortization                               0.00
Reserve Fund 1                                         0.00
    Deposits from Reserve Fund                          0.00
Fees and Expenses                                 12,085.00
    Gain/Loss Adjustment                                0.00
Other Withdrawals                                      0.00
    Other Deposits                                      0.00

   Total Deposit
1,816,587.27                Total Withdrawals
1,816,587.27

Ending Balance
0.00
____________________________________________________________
____________________________________________________________
______________________________________________________

Report  6
   03/20/96 -- 12:45am
Page  1 of  1

Equivantage Home Equity Loan Trust 1995-2
Norwest Bank Minnesota, N.A.
Contact:                           Randy Reider
Securities Administration Services
Reporting   Month:      February 1996
Phone:                           (410) 884-2111
11000 Broken Land Parkway
Distribution Date:     March 26, 1996
InvestorDirect:                  (800) 605-4167
Columbia, MD 21044-7800

Loss/Delinquency Detail

                  Current         Current         Current
Current           Total       Aggregate       Aggregate
Aggregate       Aggregate           Total
                    Fraud      Bankruptcy  Special Hazard
Credit         Current           Fraud      Bankruptcy
Special Hazard          Credit       Aggregate
Pool #             Losses          Losses          Losses
Losses          Losses          Losses          Losses
Losses          Losses          Losses
____________________________________________________________
____________________________________________________________
_________________________________________________

X                    0.00            0.00            0.00
0.00            0.00            0.00            0.00
0.00            0.00            0.00
____________________________________________________________
____________________________________________________________
_________________________________________________
Totals               0.00            0.00            0.00
0.00            0.00            0.00            0.00
0.00            0.00            0.00

____________________________________________________________
____________________________________________________________
________________________________________
             30  Days  Delinquent    60  Days  Delinquent
90  Days  Delinquent             Foreclosures
REO's                      Totals
               Number       Balance    Number       Balance
Number       Balance    Number       Balance    Number
Balance    Number            Balance
X                  34  1,441,966.05         3    176,983.45
16    872,344.27        15  1,120,240.56         0
0.00        68       3,611,534.33
                    0          0.00         0          0.00
0          0.00         0          0.00         0
0.00         0               0.00
____________________________________________________________
____________________________________________________________
________________________________________
Totals             34  1,441,966.05         3    176,983.45
16    872,344.27        15  1,120,240.56         0
0.00        68       3,611,534.33

Report  7
   03/20/96 -- 12:45am
Page  1 of  1

                                               Equivantage
Home Equity Loan Trust 1995-2
Norwest Bank Minnesota, N.A.
Contact:                           Randy Reider
Securities Administration Services               Reporting
Month:      February 1996              Phone:
(410) 884-2111
11000 Broken Land Parkway
Distribution Date:     March 26, 1996
InvestorDirect:                  (800) 605-4167
Columbia, MD 21044-7800

Collateral Summary

Total|              Pool X

____________________________________________________________
_____________________________________________
Monthly P&I Constant
790,599.82|          790,599.82

|
Positive Amortization
77,653.24|           77,653.24
Negative Amortization
0.00|                0.00
Regular Curtailments
108,240.58|          108,240.58
Regular Curtailment Interest
0.00|                0.00
Prepaid Curtailments
0.00|                0.00
Prepaid Curtailment Interest
0.00|                0.00
Liquidations
947,423.44|          947,423.44
Principal Adjustments
0.00|                0.00
   Total Principal Trust Distribution
1,133,317.26|        1,133,317.26

|
Scheduled Interest
712,946.58|          712,946.58
Servicing Fee
29,676.57|           29,676.57
Master Servicing Fee
2,613.90|            2,613.90
Spread
0.00|                0.00
     Total Pass-Through Interest
671,185.00|          671,185.00

|
Beginning Balance
72,999,338.81|       72,999,338.81
Ending Balance
71,866,021.55|       71,866,021.55
Gross P&I Distribution
1,816,587.27|        1,816,587.27
Realized Losses/(Gains)
0.00|                0.00
Net P&I Trust Distribution
1,816,587.27|        1,816,587.27

|
Beginning Loan Count
1494|                1494
Number of Loan Payoffs
23|                  23
Ending Loan Count
1471|                1471

|
Weighted Average Maturity
236.0000000000|      236.0000000000
Weighted Average Gross Rate
11.719775950%|       11.719775950%
Weighted Average Net Rate
11.231937510%|       11.231937510%
Weighted Average Pass-Through Rate
11.033278010%|       11.033278010%
Weighted Average Margin
0.000000000%|        0.000000000%

|
Advances on Delinquencies
|
  Current Period Principal
0.00|                0.00
  Current Period Interest
749,110.00|          749,110.00

|

|

Report  8
   03/20/96 -- 12:45am
Page  1 of  1

Equivantage Home Equity Loan Trust 1995-2
Norwest Bank Minnesota, N.A.
Contact:                           Randy Reider
Securities Administration Services
Reporting   Month:      February 1996
Phone:                           (410) 884-2111
11000 Broken Land Parkway
Distribution Date:     March 26, 1996
InvestorDirect:                  (800) 605-4167
Columbia, MD 21044-7800

Credit Enhancement Summary

Initial         Current         Current
Current         Current            Current

Coverage          Period          Period      Cumulative
Coverage        Coverage               Pool
Type/Purpose
Amount          Losses       Additions          Losses
Percentage          Amount            Balance
____________________________________________________________
____________________________________________________________
___________________________________________
Subordination
120.20            0.00            0.00            0.00
1.53852350%    1,105,675.63      71,866,021.55

                             Principal
                          Distribution
Scheduled   Unscheduled
                                Amount    Percentage
Payment       Payment

___________________________________________________________
Senior                    1,133,317.26 100.00000000%
100.00000000% 100.00000000%
Subordinate                       0.00   0.00000000%
0.00000000%   0.00000000%

Report  9
   03/20/96 -- 12:46am
Page  1 of  1