Item 1. Business.
Not Applicable.
Item 2.
Item 2. Properties.
Not Applicable.
Item 3.
Item 3. Legal Proceedings.
The Master Servicer is not aware of any material pending legal proceedings involving either the Registrant, the Trustee, the Sellers or the Master Servicer with respect to the Certificates or the Registrant's property.
Item 4.
Item 4. Submission of Matters to a Vote of Security Holders.
No vote or consent of the holders of the Certificates (the "Certificateholders") was solicited for any purpose during the year ended December 31, 1996.
Part II
Item 5.
Item 5. Market for Registrant's Common Equity and Related Stockholder Matters.
To the best knowledge of the Master Servicer, there is no established public trading market for the Certificates. As of the date hereof, Cede & Co., the nominee of The Depository Trust Company ("DTC"), was the only holder of record of the Class A Certificates, Class A-1 Certificates, Class A-2 Certificates, Class A-3 Certificates and Class A-4 Certificates. DTC holds the Certificates for the accounts of others.
Item 6.
Item 6. Selected Financial Data.
Not Applicable.
Item 7.
Item 7. Management's Discussion and Analysis of Financial Condition and Results of Operation.
Not Applicable.
Item 8.
Item 8. Financial Statements and Supplementary Data.
Not Applicable.
Item 9.
Item 9. Changes in and Disagreements with Accountants on Accounting and Financial Disclosure.
None.
Part III
Item 10.
Item 10. Directors and Executive Officers of the Registrant.
Not Applicable.
Item 11.
Item 11. Executive Compensation.
Not Applicable.
Item 12.
Item 12. Security Ownership of Certain Beneficial Owners and Management.
The Master Servicer is not aware of any Schedule 13D or 13G filed with the Securities and Exchange Commission in respect of the Certificates.
Item 13.
Item 13. Certain Relationships and Related Transactions.
None or Not Applicable.
Part IV
Item 14.
Item 14. Exhibits, Financial Statement Schedules, and Reports on Form 8-K.
(a) The following documents are filed as part of the report
(1) Financial Statements
Not Applicable.
(2) Financial Statement Schedules
Not Applicable.
(b) Current Reports on Form 8-K containing the Monthly Servicing Reports for the periods ending October 31, 1996, November 31, 1996 were filed by the Registrant during the quarter ended December 31, 1996.
(c) Exhibits.
25 Power of Attorney of The First National Bank of Chicago.*
28.1 Annual Statement to Certificateholders for the period ended December 31, 1996.
28.2 Independent Public Accountant's Report
- -------------------------- *Previously filed as an exhibit to Registrant's Current Report on Form 8-K dated June 20, 1996 and incorporated herein by reference.
SIGNATURES
Pursuant to the requirements of Section 13 or 15(d) 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.
CORESTATES HOME EQUITY TRUST (Registrant)
Date: October 25, 1997 By: /s/ Barbara M. Rothenberg -------------------------------- Barbara M. Rothenberg Attorney-in-Fact
EXHIBIT INDEX
- -------------------------- *Previously filed as an exhibit to Registrant's Current Report on Form 8-K dated June 20, 1996 and incorporated herein by reference.