ContiMortgage Corporation
                   Home Equity Loan Pass-Through Certificates
                                  Series 1998-2

Distribution Period:                  15-Jan-99

<TABLE>
<CAPTION>
-----------------------------------------------------------------------------------------------------------------------------------
                         Original          Beginning                                                 Ending             Planned
                        Certificate       Certificate     Principal     Interest       Total       Certificate          Principal
 CUSIP        Class     Face Value          Balance      Distribution  Distribution Distribution     Balance            Balance
-----------------------------------------------------------------------------------------------------------------------------------
<S>        <C>         <C>               <C>            <C>            <C>          <C>            <C>              <C>
21075WHD0      A-1     114,000,000.00    14,109,783.66  14,109,783.66     68,632.83 14,178,416.49            0.00
21075X1Y9 A-2 Internal 175,000,000.00   175,000,000.00   8,500,757.40    863,333.33  9,364,090.73  166,499,242.60   161,382,258.19
21075WHE8   A-2 Fixed  250,000,000.00   250,000,000.00  12,143,939.15  1,281,250.00 13,425,189.15  237,856,060.85   230,546,083.12
21075WHG3      A-3     275,000,000.00   275,000,000.00           0.00  1,404,791.67  1,404,791.67  275,000,000.00   275,000,000.00
21075WHH1      A-4     185,000,000.00   185,000,000.00           0.00    954,291.67    954,291.67  185,000,000.00   185,000,000.00
21075WHJ7      A-5      90,000,000.00    90,000,000.00           0.00    471,000.00    471,000.00   90,000,000.00    90,000,000.00
21075WHK4      A-6      97,000,000.00    97,000,000.00           0.00    514,100.00    514,100.00   97,000,000.00    97,000,000.00
21075WHL2      A-7     100,600,000.00   100,600,000.00           0.00    550,785.00    550,785.00  100,600,000.00   100,600,000.00
                                                                                                                    
21075WHM0      A-8     235,000,000.00   235,000,000.00           0.00  1,170,754.14  1,170,754.14  235,000,000.00
21075WHN8      A-9     158,400,000.00   142,521,024.76   4,508,477.77    696,530.22  5,205,007.99  138,012,546.99
21075WHQ1        B      70,000,000.00    70,000,000.00           0.00    451,500.00    451,500.00   70,000,000.00
21075X1Z6      C               0.00               0.00           0.00     24,616.19     24,616.19            0.00
               R               0.00               0.00           0.00          0.00          0.00            0.00
          Total     1,750,000,000.00  1,634,230,808.42  39,262,957.98  8,451,585.05 47,714,543.03 1,594,967,850.44
</TABLE>

<TABLE>
<CAPTION>

            -----------------------------------------------------------------------------------------------------
                          Notional           Notional    Principal       Interest      Total         Notional
            Class          Amount             Amount    Distribution   Distribution  Distribution     Amount
<S>         <C>       <C>               <C>                     <C>    <C>           <C>           <C>      
21075WHP3   A-10IO    197,600,000.00    197,600,000.00          0.00   1,070,333.33  1,070,333.33  197,600,000.00
            -----------------------------------------------------------------------------------------------------
</TABLE>

<TABLE>
<CAPTION>
------------------------------------------------------------------------------------------------------------------------------------
                                             AMOUNTS PER $1,000 UNIT                            PASS THROUGH RATES
------------------------------------------------------------------------------------------------------------------------------------
                                                                               Ending
                                Principal       Interest       Total          Certificate                Original Pass Current Pass
                 Class        Distribution    Distribution  Distribution         Balance      Class        Thru Rate      Thru Rate
<S>          <C>              <C>               <C>         <C>           <C>             <C>              <C>            <C>      
21075WHD0         A-1         123.77003211      0.60204237  124.37207447       0.00000000      A-1         5.64875%       5.64875%
21075X1Y9    A-2 Internal      48.57575657      4.93333331   53.50908989     951.42424343  A-2 Internal    5.92000%       5.92000%
21075WHE8      A-2 Fixed       48.57575660      5.12500000   53.70075660     951.42424340   A-2 Fixed      6.15000%       6.15000%
21075WHG3         A-3           0.00000000      5.10833335    5.10833335   1,000.00000000      A-3         6.13000%       6.13000%
21075WHH1         A-4           0.00000000      5.15833335    5.15833335   1,000.00000000      A-4         6.19000%       6.19000%
21075WHJ7         A-5           0.00000000      5.23333333    5.23333333   1,000.00000000      A-5         6.28000%       6.28000%
21075WHK4         A-6           0.00000000      5.30000000    5.30000000   1,000.00000000      A-6         6.36000%       6.36000%
21075WHL2         A-7           0.00000000      5.47500000    5.47500000   1,000.00000000      A-7         6.57000%       6.57000%
21075WHM0         A-8           0.00000000      4.98193251    4.98193251   1,000.00000000      A-8         5.90625%       5.78547%
21075WHN8         A-9          28.46261218      4.39728674   32.85989893     871.29133201      A-9         5.79625%       5.67547%
21075WHQ1          B            0.00000000      6.45000000    6.45000000   1,000.00000000     A-10IO       6.50000%       6.50000%
                 Total         22.43597599      4.81541078   27.25138677     911.41020025       B          7.74000%       7.74000%
            -----------------------------------------------------------------------------------------------------------------------
                                                                                                        LIBOR:            5.53547%
                                                                                                        --------------------------
</TABLE>
<TABLE>
<CAPTION>
                                                                               Ending
                                Principal        Interest       Total         Notional
               Class           Distribution     Distribution  Distribution     Amount
<S>             <C>             <C>              <C>          <C>           <C>           
21075WHP3     A-10IO            0.00000000       5.41666665   5.41666665    1,000.00000000
</TABLE>

PLEASE DIRECT ANY QUESTIONS OR COMMENTS TO THE FOLLOWING ADMINISTRATOR:

                                          Neil Witoff
                                          M & T Corporate Trust Department
                                          One M & T Plaza-7th Floor
                                          Buffalo, NY 14240


                                                                          Page 1
<PAGE>

                            ContiMortgage Corporation
                   Home Equity Loan Pass-Through Certificates
                                  Series 1998-2

Distribution Period:            15-Jan-99
<TABLE>
<CAPTION>
                        -----------------------------------------------------------------------------------------------------------
                        Total Principal          Scheduled                                       Overcollateralization
                        Distribution              Principal   Prepayments       Liquidations          Inc/(Red)            Total
                        -----------------------------------------------------------------------------------------------------------
<S>                     <C>                     <C>          <C>                   <C>                <C>             <C>          
SEC. 7.09 (a) (ii)      Class A-1               1,198,792.21 12,910,991.45               0.00               0.00      14,109,783.66
                          Per $1000 Unit         10.51572114  113.25431096         0.00000000         0.00000000       123.77003211
                        -----------------------------------------------------------------------------------------------------------
                        Class A-2 Internal              0.00  6,939,273.06         156,574.88       1,404,909.46       8,500,757.40
                          Per $1000 Unit          0.00000000   39.65298891         0.89471360         8.02805406        48.57575657
                        -----------------------------------------------------------------------------------------------------------
                        Class A-2 Fixed                 0.00  9,913,247.24         223,678.39       2,007,013.52      12,143,939.15
                          Per $1000 Unit          0.00000000   39.65298896         0.89471356         8.02805408        48.57575660
                        -----------------------------------------------------------------------------------------------------------
                        Class A-3                       0.00          0.00               0.00               0.00               0.00
                          Per $1000 Unit          0.00000000    0.00000000         0.00000000         0.00000000         0.00000000
                        -----------------------------------------------------------------------------------------------------------
                        Class A-4                       0.00          0.00               0.00               0.00               0.00
                          Per $1000 Unit          0.00000000    0.00000000         0.00000000         0.00000000         0.00000000
                        -----------------------------------------------------------------------------------------------------------
                        Class A-5                       0.00          0.00               0.00               0.00               0.00
                          Per $1000 Unit          0.00000000    0.00000000         0.00000000         0.00000000         0.00000000
                        -----------------------------------------------------------------------------------------------------------
                        Class A-6                       0.00          0.00               0.00               0.00               0.00
                          Per $1000 Unit          0.00000000    0.00000000         0.00000000         0.00000000         0.00000000
                        -----------------------------------------------------------------------------------------------------------
                        Class A-7                       0.00          0.00               0.00               0.00               0.00
                          Per $1000 Unit          0.00000000    0.00000000         0.00000000         0.00000000         0.00000000
                        -----------------------------------------------------------------------------------------------------------
                        Class A-8                       0.00          0.00               0.00               0.00               0.00
                          Per $1,000 Unit         0.00000000    0.00000000         0.00000000         0.00000000         0.00000000
                        -----------------------------------------------------------------------------------------------------------
                        Class A-9                  70,057.82  4,013,562.91               0.00         424,857.04       4,508,477.77
                         Per $1,000 Unit          0.44228422   25.33814968         0.00000000         2.68217828        28.46261218
                        -----------------------------------------------------------------------------------------------------------
                        Class B                         0.00          0.00               0.00               0.00               0.00
                          Per $1000 Unit          0.00000000    0.00000000         0.00000000         0.00000000         0.00000000
                        -----------------------------------------------------------------------------------------------------------
                        Total                   1,268,850.03 33,777,074.66         380,253.27       2,431,870.56      39,262,957.98
                          Per $1000 Unit          0.72505716   19.30118552         0.21728758         1.38964032        22.43597599
                        -----------------------------------------------------------------------------------------------------------
</TABLE>


<TABLE>
<CAPTION>

<S>                           <C>                                                                          <C> 
SEC. 7.09 (a) (iv)            Total Certificate Interest Carry-Forward Amount                              0.00
                                Class A-1 Interest Carry-Forward Amount                                    0.00
                                Class A-2 Internal Interest Carry-Forward Amount                           0.00
                                Class A-2 Fixed Interest Carry-Forward Amount                              0.00
                                Class A-3 Interest Carry-Forward Amount                                    0.00
                                Class A-4 Interest Carry-Forward Amount                                    0.00
                                Class A-5 Interest Carry-Forward Amount                                    0.00
                                Class A-6 Interest Carry-Forward Amount                                    0.00
                                Class A-7 Interest Carry-Forward Amount                                    0.00
                                Class A-8 Interest Carry-Forward Amount                                    0.00
                                Class A-9 Interest Carry-Forward Amount                                    0.00
                                Class A-10IO Interest Carry-Forward Amount                                 0.00
                                Class B Interest Carry-Forward Amount                                      0.00
<CAPTION>

                                                                 Fixed Rate       Adj. Rate I      Adj. Rate II         Total
                                                                 ----------       -----------      ------------         -----
<S>                     <C>                                   <C>               <C>              <C>              <C>             
SEC. 7.09 (a) (vi)      Outstanding Loan Balance:             1,233,967,928.64  219,782,658.43   145,037,404.03   1,598,787,991.10
SEC. 7.09 (a) (vii)     Scheduled Principal Received              1,104,421.12       94,371.09        70,057.82       1,268,850.03
                        Prepayments (incl. Curtailments)         26,219,998.49    3,514,613.26     4,013,562.91      33,748,174.66
                        Purchased Principal                          28,900.00            0.00             0.00          28,900.00
                        Liquidation Proceeds applied to 
                        principal                                   380,253.27            0.00             0.00         380,253.27
                        Realized Loss of Principal                    16639.36               0                0           16639.36
                        Realized Loss of Interest                     14194.97            42.5                0         $14,237.47

SEC. 7.09 (a) (viii)    Code Section 6049(d)(7)(C) Information-Required Market Discount Information Provided at Calendar Year End.
 
                                                                 Fixed Rate           Adj. Rate I       Adj. Rate II         Total
                                                                 ----------           -----------       ------------         -----
SEC. 7.09 (a) (ix)      Loan Purchase Prices                     2918594.00000%           0.00000%           0.00000% 2918594.0000%
                        Substitution Amounts                                 0                  0                  0              0
SEC. 7.09 (a) (x)       Weighted Average Coupon                        0.10447          0.1025411          0.0992603     0.10373095
SEC. 7.09 (a) (xi)      Weighted Average Remaining 
                         Term to Maturity                          238.0467827        352.9796171        351.1904027
SEC. 7.09 (a) (xii)     Delinquency Trigger Event 
                         Occurrence                                                           NO
                        Cumulative Realized Loss Trigger 
                         Event Occurrence                                                     NO
                        Cumulative Realized Loss Termination 
                         Trigger Occurrence                                                   NO
SEC. 7.09 (a) (xiii)    Class A Enhancement Percentage                                    0.00            0.00                 0.05
                        Targeted Overcollateralization Amount                                                            25374988.5
                        Overcollateralization Stepdown Amount                                                                    0
SEC. 7.09 (a) (xiv)     Overcollateralization Amount                                                                     3820140.66
</TABLE>


                                                                          Page 2
<PAGE>

                            ContiMortgage Corporation
                   Home Equity Loan Pass-Through Certificates
                                  Series 1998-2

Distribution Period:                  15-Jan-99

<TABLE>
<CAPTION>
SEC. 7.09 (a) (xv)                              Applied Realized           Realized Loss             Unpaid Realized
                                                Loss Amount            Amortization Amount          Loss Amount
                                                -----------            -------------------          -----------
                              Class B                    0                        0                      0.00
                                                                                         Group I     Group II            Total
                                                                                         -------     --------            -----
<S>                           <C>                                                           <C>    <C>               <C>
SEC. 7.09 (a) (xvii)          Available Funds Cap                                           0.08   0.088550127
SEC. 7.09 (a) (xviii)         Insured Payment                                               0.00             0                0
SEC. 7.09 (a) (xix)           Reimbursement Amount Paid                                                      0
                              Remaining Reimbursement Amount Unpaid                                                           0
SEC. 7.09 (a) (xxi)           Largest Home Equity Loan Balance Outstanding                                            447600.68


<CAPTION>

SEC. 7.09 (b) (ii)            Delinquencies(1)        Period              Number       Percentage      Prin. Balance     Percentage
                              -----------------------------------------------------------------------------------------------------
<S>                           <C>                   <C>                    <C>           <C>           <C>                 <C>     
                                                    30-59 Days               419         2.29237%      23,911,175.89       1.93775%
                                 Fixed Rate         60-89 Days               189         1.03403%      11,166,817.02       0.90495%
                                                     90+ Days                471         2.57687%      30,687,826.24       2.48692%
                                                    30-59 Days                49         2.07101%       3,849,356.87       1.75144%
                              -----------------------------------------------------------------------------------------------------
                              Adjustable Rate I     60-89 Days                26         1.09890%       2,718,027.42       1.23669%
                                                     90+ Days                 53         2.24007%       4,878,970.50       2.21991%
                                                    30-59 Days                37         2.55172%       2,791,335.91       1.92456%
                              -----------------------------------------------------------------------------------------------------
                              Adjustable Rate II    60-89 Days                19         1.31034%       1,585,177.30       1.09294%
                                                     90+ Days                 44         3.03448%       3,761,940.07       2.59377%
                                                    30-59 Days               505         2.28569%      30,551,868.67       1.91094%
                              TOTAL                 60-89 Days               234         1.05911%      15,470,021.74       0.96761%
                                                      90+ Days               568         2.57083%      39,328,736.81       2.45991%
                                                  Total Fixed             18,278       100.00000%   1,233,967,928.64     100.00000%
                                                  ---------------------------------------------------------------------------------
                                                  Total Adjust. I          2366                1        219782658.4              1
                                                  ---------------------------------------------------------------------------------
                                                  Total Adjust. II         1450                1        145037404                1
                                                  ---------------------------------------------------------------------------------
                                                  Total                    22094               1       1598787991                1
                                                  ---------------------------------------------------------------------------------

                         (1) Includes Bankruptcies, Foreclosures and REOs ; Based on each respective Group's loan count and balance.
</TABLE>

<TABLE>
<CAPTION>
                                                                        Fixed Rate     Adj. Rate I    Adj. Rate II            Total
                                                                        ----------     -----------    ------------            -----
<S>                   <C>                                               <C>              <C>             <C>             <C>   
SEC. 7.09 (b) (iii)   Loans in Foreclosure (LIF): Count                     236.00           29.00           24.00           289.00
                      Loans in Foreclosure (LIF): Balance               15,362,313       2,756,876       2,143,722       20,262,910
                      Newly Commenced LIF: Count                             75.00            6.00            6.00            87.00
                      Newly Commenced LIF: Balance                       4,910,599         465,700         435,511        5,811,811
SEC. 7.09(b)(iv)(a)   Loans in Bankruptcy:  Count                            94.00            6.00           11.00           111.00
                      Loans in Bankruptcy:  Balance                      6,985,938         579,138         834,972        8,400,048
SEC. 7.09(b)(iv)(b)   Balloon Loans:  Count                               6,841.00            0.00            1.00         6,842.00
                      Balloon Loans:  Balance                       505,441,140.93            0.00       49,963.30   505,491,104.23
SEC. 7.09 (b) (v&vi)  REO Properties:  Count                                    10               1               0               11
                      REO Properties:  Balance                          767,889.62      118,953.21            0.00       886,842.83
SEC. 7.09 (b) (vii)   Cumulative Realized Losses                     10,400,177.00      630,093.00     1,690.223.00   12,720.493.00

SEC. 7.09 (b) (viii)  Loan Balance of 60+ Day Delinquent Loans       41,854,643.26    7,596.997.92     5,347,117.37   54,798,758.55
SEC. 7.09 (b) (ix)    Three Month Rolling Average of 60+ Day 
                      Delinquency Rate                                0.028018807     0.025619276     0.030048412                 
                      Delinquency Trigger Event Occurrence                                                                       NO
                      Cumulative Realized Loss Trigger Event Occurrence                                                          NO
SEC. 7.09 (b) (x)     Loans repurchsed for loss mitigation purposes
</TABLE>


                                                                         Page 3
<PAGE>

                            ContiMortgage Corporation
                   Home Equity Loan Pass-Through Certificates
                                  Series 1998-2

                                           REO Status                   
                                                                        
SEC. 7.09 (b) (v&vi)       Loan Number        Book Value    Status      
                           -----------        ----------    ------      
                           4733416            $74,772.14    List Pending
                           4738233            $99,887.24    List Pending
                           5476049           $116,100.00    Eviction    
                           5864897            $48,000.00    List Pending
                           5957394            $38,375.06    List Pending
                           6138234            $42,472.69    List Pending
                           6243588            $38,383.67    List Pending
                           6386296            $47,571.51    Listed      
                           6404297           $186,927.31    List Pending
                           6420210            $75,400.00    List Pending
                           6249734           $118,953.21    Listed      
                                                                        
                                                                        
                                                                        


                                                                         Page 4
<PAGE>

Distribution Period:                  15-Jan-99

<TABLE>
<CAPTION>
                                                                       Fixed Rate         Adj. Rate      Invest. Income    Total
<S>                    <C>                                           <C>               <C>                  <C>         <C>        
SEC. 7.08(b)(i)        Amount on Deposit in the Certificate Account  $43,602,733.93    5,254,970.11         24616.19    48882320.23

SEC. 7.08(b)(ii)(iv)                                                                   Amount Due     Amount Paid
                                                                                       ----------     -----------
                         Class A-1 Allocation                                         14,178,416.49   14,178,416.49
                         Class A-2 Internal Allocation                                 9,364,090.73    9,364,090.73
                         Class A-2 Fixed Allocation                                   13,425,189.15   13,425,189.15
                         Class A-3 Allocation                                          1,404,791.67    1,404,791.67
                         Class A-4 Allocation                                            954,291.67      954,291.67
                         Class A-5 Allocation                                            471,000.00      471,000.00
                         Class A-6 Allocation                                            514,100.00      514,100.00
                         Class A-7 Allocation                                            550,785.00      550,785.00
                         Class A-8 Allocation                                          1,170,754.14    1,170,754.14
                         Class A-9 Allocation                                          5,205,007.99    5,205,007.99
                         Class A-10IO Allocation                                       1,070,333.33    1,070,333.33
                                                                                      -----------------------------
                         Class A Distribution Amount                                  48,308,760.17   48,308,760.17
                                                                                      =============================

                         Class B Allocation                                              451,500.00      451,500.00


SEC. 7.08(b)(iii)      Insured Payment made by the Certificate Insurer                         0.00
</TABLE>


<TABLE>
<CAPTION>
SEC. 7.08(b)(v)                                               Beginning         Principal             Ending
                                               Class          Balance *       Distribution          Balance *
                                            ----------------------------------------------------------------------
                                            <S>             <C>                   <C>               <C>     
                                                A-1         14,109,783.66         14,109,783.66               0.00
                                            A-2 Internal    175,000,000.00         8,500,757.40     166,499,242.60
                                             A-2 Fixed      250,000,000.00        12,143,939.15     237,856,060.85
                                                A-3         275,000,000.00                 0.00     275,000,000.00
                                                A-4         185,000,000.00                 0.00     185,000,000.00
                                                A-5         90,000,000.00                  0.00      90,000,000.00
                                                A-6         97,000,000.00                  0.00      97,000,000.00
                                                A-7         100,600,000.00                 0.00     100,600,000.00
                                                A-8         235,000,000.00                 0.00     235,000,000.00
                                                A-9         142,521,024.76         4,508,477.77     138,012,546.99
                                               A-10IO       197,600,000.00                   NA     197,600,000.00
                                                 B          70,000,000.00                  0.00      70,000,000.00
                                               * Denotes Notional Amounts for Class A-10IO.

<CAPTION>
                                                                      Fixed Rate      Adj. Rate I   Adj. Rate II     Total
                                                                      ----------      -----------  -------------     -----
SEC. 7.08(b)(vi)       Current Period Realized Losses (Recoveries)      30,834.33           42.50         0.00       30,876.83
                       Cumulative Realized Losses                      104,001.77        6,300.93    16,902.23      127,204.93

SEC. 7.08(b)(vii)      Loan Balance of 60+ Day Delinquent Loans                                                  54,798,758.55
                       Three-Month Rolling Average of 60+ Day Delinquency Rate                                         2.78767%

</TABLE>

<PAGE>

                                                                            
Insurer's Report

Distribution Period:                  15-Jan-99


<TABLE>
<CAPTION>
                                              Group I      Group II              Total
                                              -------      --------              -----
   <S>                                      <C>                 <C>              <C>         
   * Monthly Excess Cashflow Amount         3,411,922.98        424,857.04       3,836,780.02

   * Premium paid from cash flow (1)           86,898.00          8,652.00          95,550.00

   * Trustee Fee paid from cash flow (1)        1,721.06            172.81           1,893.87

   * Interest Collected on Mortgage
          Loans (net of Service Fee)       12,260,176.70      1,171,349.38      13,431,526.08

   * Current Period Realized Losses:
                   Principal                   16,639.36              0.00          16,639.36
                   Interest                    14,237.47              0.00          14,237.47

                                          (1)  Allocated  based upon the related
</TABLE>

<PAGE>

--------------------------------------------------------------------------------
                           ContiMortgage Grantor Trust
                                  Series 1998-A
--------------------------------------------------------------------------------

Distribution Period:                       15-Jan-99

<TABLE>
<CAPTION>
---------------------------------------------------------------------------------------------------------------------------
                       Original          Beginning                                                           Ending
                     Certificate        Certificate       Principal     Interest         Total            Certificate
 CUSIP     Class      Face Value          Balance       Distribution   Distribution    Distribution         Balance
---------------------------------------------------------------------------------------------------------------------------
<S>        <C>        <C>              <C>               <C>             <C>            <C>              <C>           
21075WHF5  A-2 (1)   175,000,000.00   175,000,000.00    8,500,757.40    838,873.78     9,339,631.18     166,499,242.60
---------------------------------------------------------------------------------------------------------------------------

<CAPTION>
          ----------------------------------------------------------------------------------------------------------------------
              AMOUNTS PER $1,000 UNIT                                                           PASS THROUGH RATES
          ----------------------------------------------------------------------------------------------------------------------
                                                                      Ending
                     Principal          Interest         Total      Certificate                  Original Pass      Current Pass
           Class    Distribution      Distribution   Distribution     Balance        Class        Thru Rate          Thru Rate
--------------------------------------------------------------------------------------------------------------------------------
<S>        <C>      <C>                <C>           <C>            <C>               <C>          <C>                <C>     
21075WHF5  A-2 (1)  48.57575659        4.79356446    53.36932105    951.42424343      A-2          5.71750%           5.56672%
--------------------------------------------------------------------------------------------------------------------------------
                                                                                                     LIBOR:           5.53672%
                                                                                                                  --------------
</TABLE>

<TABLE>
<CAPTION>
<S>                       <C>                                                                           <C> 
SEC. 7.09 (a) (iv)        Class A-2 Floating Certificate Interest Carry-Forward Amount                      0.00

SEC. 7.09 (a) (vi)        Code Section 6049(d)(7)(C) Information-Required Market Discount 
                          Information Provided at Calendar Year End.

SEC. 7.09 (a) (vii)       Insured Payment                                                                    0.00

SEC. 7.09 (a) (viii)      Swap Payment received from the NatWest                                       838,873.78
                          Swap Payment due to the NatWest                                              863,333.33

                          Investment Income on Grantor Trust paid to Seller in July each year                0.00
                          Accrued but Unpaid Investment Income on Grantor Trust                          2,144.62
</TABLE>

PLEASE DIRECT ANY QUESTIONS OR COMMENTS TO THE FOLLOWING ADMINISTRATOR:

                                          Neil Witoff
                                          M & T Corporate Trust Department
                                          One M & T Plaza-7th Floor
                                          Buffalo, NY 14240

(1) Class A-2 Floating Certificate

<PAGE>

--------------------------------------------------------------------------------
                           ContiMortgage Grantor Trust
                                  Series 1998-A
--------------------------------------------------------------------------------
Distribution Period:                       15-Jan-99

<TABLE>
<CAPTION>
<S>                      <C>                                                   <C>          
SEC. 7.08(b)(1)           Amount on Deposit in the Certificate Account         10,202,964.51

SEC. 7.08(b)(2)                                                             Amount Due             Amount Paid
                                                                          -------------             -----------
                            Class A-2 Floating Certificate Allocation     9,339,631.18            9,339,631.18

SEC. 7.08(b)(3)           Insured Payment made by the Certificate Insurer        0.00

SEC. 7.08(b)(5)                                              Beginning           Principal             Ending
                                        Class                 Balance           Distribution           Balance
                              ----------------------------------------------------------------------------------------
                                    A-2 Floating            175,000,000.00       8,500,757.40        166,499,242.60

                                                                                               Amount Due           Amount Received
SEC. 7.08(b)(6)(7)        Amount of any Swap Payment payable to the Grantor Trustee            838,873.78              838,873.78

                          Investment Income on Grantor Trust paid to Seller in July each year       0.00
                          Accrued but Unpaid Investment Income on Grantor Trust                 2,144.62
</TABLE>

<PAGE>

--------------------------------------------------------------------------------
                           ContiMortgage Grantor Trust
                                  Series 1998-A
--------------------------------------------------------------------------------

--------------------------------------------------------------------------------
CSHC / NatWest
Swap Side Agreement
--------------------------------------------------------------------------------

Distribution Period:                                                  15-Jan-99

Class A-2 Internal Pass-Through Rate                                    5.92000%
Class A-2 Floating Pass-Through Rate                                    5.56672%

Class A-2 Internal Current Balance                               175,000,000.00
Swap Notional Balance                                            175,000,000.00

Class A-2 Internal Actual Balance Interest Amount                    863,333.33
Class A-2 Floating Actual Balance Interest Amount                    838,873.78
Class A-2 Internal Swap Notional Balance Interest Amount             863,333.33
Class A-2 Floating Swap Notional Balance Interest Amount             838,873.78

Current Swap Gains                                                         0.00
Swap Gains Carry-Forward                                                   0.00
Current Swap Losses                                                        0.00
Swap Losses Carry-Forward                                                  0.00

Swap Gains Payable to CSHC                                                 0.00
Swap Gains Payable to CRC II                                               0.00
Swap Losses Payable to NatWest (limited to Class R Cashflow)               0.00