Contimortgage Corporation
                   Home Equity Loan Pass-Through Certificates
                                 Series 1996-4                                  
                                                                
                           CERTIFICATE HOLDER'S REPORT
                                ANNUAL STATEMENT
                         Year Ending: December 31, 1996
                                                                
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                       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>
                                  
21075WDH5   A-1        96,650,000.00    96,650,000.00      0.00        0.00                    0.00    96,650,000.00
21075WDJ1   A-2       113,600,000.00   113,600,000.00      0.00        0.00                    0.00   113,600,000.00
21075WDK8   A-3       136,100,000.00   136,100,000.00      0.00        0.00                    0.00   136,100,000.00
21075WDL6   A-4        66,800,000.00    66,800,000.00      0.00        0.00                    0.00    66,800,000.00
21075WDM4   A-5        69,000,000.00    69,000,000.00      0.00        0.00                    0.00    69,000,000.00
21075WDN2   A-6        40,750,000.00    40,750,000.00      0.00        0.00                    0.00    40,750,000.00
21075WDP7   A-7        57,700,000.00    57,700,000.00      0.00        0.00                    0.00    57,700,000.00
21075WDQ5   A-8        44,400,000.00    44,400,000.00      0.00        0.00                    0.00    44,400,000.00
21075WDR3   A-9        50,000,000.00    50,000,000.00      0.00        0.00                    0.00    50,000,000.00
21075WDS1   A-10      225,000,000.00   225,000,000.00      0.00        0.00                    0.00   225,000,000.00
B-IO                            0.00             0.00      0.00        0.00                    0.00             0.00
R                               0.00             0.00      0.00        0.00                    0.00             0.00
      Total Class A   900,000,000.00   900,000,000.00      0.00        0.00                    0.00   900,000,000.00  
        *  Portion of Class B-IO/R distribution which represents investment earnings on Certificate Acct.:      0.00    
                                                                
                                                                
                         Notional        Notional        Principal       Interest        Total         Notional        
                  Class   Amount         Amount       Distribution    Distribution    Distribution      Amount  
21075WDT9     A-11IO  675,000,000.00  675,000,000.00       0.00          0.00              0.00     675,000,000.00  
21075WDU6     A-12IO  225,000,000.00  225,000,000.00       0.00          0.00              0.00     225,000,000.00  
                                                                
                        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
                                                                
21075WDH5       A-1     0.00000000      0.00000000      0.00000000      1,000.00000000  A-1 *   5.63766%        5.63766%
21075WDJ1       A-2     0.00000000      0.00000000      0.00000000      1,000.00000000  A-2     6.23000%        6.23000%
21075WDK8       A-3     0.00000000      0.00000000      0.00000000      1,000.00000000  A-3     6.19000%        6.19000%
21075WDL6       A-4     0.00000000      0.00000000      0.00000000      1,000.00000000  A-4     6.37000%        6.37000%
21075WDM4       A-5     0.00000000      0.00000000      0.00000000      1,000.00000000  A-5     6.60000%        6.60000%
21075WDN2       A-6     0.00000000      0.00000000      0.00000000      1,000.00000000  A-6     6.71000%        6.71000%
21075WDP7       A-7     0.00000000      0.00000000      0.00000000      1,000.00000000  A-7     6.99000%        6.99000%
21075WDQ5       A-8     0.00000000      0.00000000      0.00000000      1,000.00000000  A-8     7.22000%        7.22000%
21075WDR3       A-9     0.00000000      0.00000000      0.00000000      1,000.00000000  A-9     6.88000%        6.88000%
21075WDS1       A-10    0.00000000      0.00000000      0.00000000      1,000.00000000  A-10 *  5.83766%        5.83766%
                Total   0.00000000      0.00000000      0.00000000      1,000.00000000  A-11IO  1.10000%        1.10000%
                                                                                        A-12IO  1.05000%        1.05000%
                                                                                       * Based on a LIBOR of:   5.59766%
                                                                              Ending  ** As of the December 15, 1996          
                         Principal       Interest        Total              Notional    Distribution Date.
                 Class  Distribution    Distribution    Distribution         Amount                  
21075WDT9       A-11IO  0.00000000      0.00000000      0.00000000      1,000.00000000                  
21075WDU6       A-12IO  0.00000000      0.00000000      0.00000000      1,000.00000000                  
                                                                
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        
                                                                
                                                                
                                                                
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<CAPTION>
                                                                
                                                                 
Year Ended:             31-Dec-96                                               
                                                                              Fixed Group     Adj. Group      
                Total Principal Scheduled                                  Subordination   Subordination   
SEC. 7.09(a)(ii)Distribution    Principal  Prepayments     Liquidations    Incr./(Red.)    Incr./(Red.)    Total
<S>             <C>                 <C>          <C>              <C>            <C>             <C>     <C> 
                Class A-1            0.00         0.00             0.00           0.00            0.00    0.00
                  Per $1000 Unit     0.00         0.00             0.00           0.00            0.00    0.00
                Class A-2            0.00         0.00             0.00           0.00            0.00    0.00
                  Per $1000 Unit     0.00         0.00             0.00           0.00            0.00    0.00
                Class A-3            0.00         0.00             0.00           0.00            0.00    0.00
                  Per $1000 Unit     0.00         0.00             0.00           0.00            0.00    0.00
                Class A-4            0.00         0.00             0.00           0.00            0.00    0.00
                  Per $1000 Unit     0.00         0.00             0.00           0.00            0.00    0.00
                Class A-5            0.00         0.00             0.00           0.00            0.00    0.00
                  Per $1000 Unit     0.00         0.00             0.00           0.00            0.00    0.00
                Class A-6            0.00         0.00             0.00           0.00            0.00    0.00
                  Per $1000 Unit     0.00         0.00             0.00           0.00            0.00    0.00
                Class A-7            0.00         0.00             0.00           0.00            0.00    0.00
                  Per $1000 Unit     0.00         0.00             0.00           0.00            0.00    0.00
                Class A-8            0.00         0.00             0.00           0.00            0.00    0.00
                  Per $1000 Unit     0.00         0.00             0.00           0.00            0.00    0.00
                Class A Certs        0.00         0.00             0.00           0.00            0.00    0.00
                  Per $1000 Unit     0.00         0.00             0.00           0.00            0.00    0.00
                                                                
SEC. 7.09 (a) (iv)              Total Class A Carry-Forward Amount                              0.00            
                  Class A-1 Carry-Forward Amount                                0.00            
                  Class A-2 Carry-Forward Amount                                0.00            
                  Class A-3 Carry-Forward Amount                                0.00            
                  Class A-4 Carry-Forward Amount                                0.00            
                  Class A-5 Carry-Forward Amount                                0.00            
                  Class A-6 Carry-Forward Amount                                0.00            
                  Class A-7 Carry-Forward Amount                                0.00            
                  Class A-8 Carry-Forward Amount                                0.00            
                  Class A-9 Carry-Forward Amount                                0.00            
                  Class A-10 Carry-Forward Amount                               0.00            
                  Class A-11IO Carry-Forward Amount                             0.00            
                  Class A-12IO Carry-Forward Amount                             0.00            
SEC. 7.09 (a) (v) Class A Insured Payment                                       0.00            
                                                                        Fixed Group     Adj. Group      Total
SEC. 7.09 (a) (vii)  Outstanding Group Loan Balance:                  667,065,684.94  223,678,628.01  890,744,312.95
SEC. 7.09 (a) (viii) Subordinated Amount                                        0.00            0.00    
                Subordination Deficit                                           0.00    0.00    
SEC. 7.09 (a) (ix)              Code Section 6049(d)(7)(C) Information-Required Market
                                Discount Information Provided at Calendar Year End.                                              
                                                                        Fixed Group     Adj. Group      
SEC. 7.09 (a) (x) Loan Purchase Prices                                         0.00    0.00    
                  Substitution Amounts                                         0.00    0.00    
SEC. 7.09 (a) (xi)Weighted Average Coupon                                  11.8691%        10.4230%        
                                                                
SEC. 7.09 (a) (xii)Amount on deposit in the Supplemental Interest Account                          0.00            
                   Amount distributed from Supplemental Interest Account                           0.00            
SEC. 7.09 (a) (xiv)Largest Loan Balance Outstanding       Fixed Group:    449,650.91      Adj. Group:     444,275.56
SEC. 7.09 (b) (ii) & (iii)              
                  Delinquencies   Period          Number  Percentage *    Prin. Balance   Percentage *    
                                  30-59 Days      306     2.71036%        16,275,935.76     2.43993%        
                  Fixed Group     60-89 Days      74      0.65545%         4,346,554.76     0.65159%        
                                  90+ Days        19      0.16829%         1,099,583.30     0.16484%        
                                  30-59 Days      58      2.08109%         3,455,275.90     1.54475%        
                  Adj. Group      60-89 Days      16      0.57409%           910,258.20     0.40695%        
                                  90+ Days        0       0.00000%                 0.00     0.00000%        
                                  Total Fixed     11290   100.00000%      667,065,684.94  100.00000%      
                                  Total Adjust.   2787    100.00000%      223,678,628.01  100.00000%      
                                  * Based upon each respective Group's loan count and balance.                                    
                                                             Fixed Grp. No.  Fixed Grp. Bal. Adj. Group No.  Adj. Group Bal. 
SEC. 7.09 (b) (iv)              Loans in Foreclosure (LIF):             9       648,990.00               0       0.00    
                                Newly Commenced LIF:                    9       648,990.00               0       0.00    
SEC. 7.09(b)(v)(a)              Loans in Bankruptcy                     2       86,728.38                0       0.00    
SEC. 7.09(b)(v)(b)              Balloon Loans                        6437  451,306,976.25                2       134,037.04      
SEC. 7.09 (b) (vi&vii)          REO Properties                          0            0.00                0       0.00    
SEC. 7.09 (b) (viii)            Cumulative Losses                                    0.00                        0.00    Page 2  
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Year Ended:             31-Dec-96                                               
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<CAPTION>
<S>              <C>                                           <C>    
                                                                
SEC. 7.08(b)(1)&(5)Amount on Deposit in the 
                 Certificate Account                            0.00            
                  Class A-1 Allocation                          0.00            
                  Class A-2 Allocation                          0.00            
                  Class A-3 Allocation                          0.00            
                  Class A-4 Allocation                          0.00            
                  Class A-5 Allocation                          0.00            
                  Class A-6 Allocation                          0.00            
                  Class A-7 Allocation                          0.00            
                  Class A-8 Allocation                          0.00            
                  Class A-9 Allocation                          0.00            
                  Class A-10 Allocation                         0.00            
                  Class A-11IO Allocation                       0.00            
                  Class A-12IO Allocation                       0.00            
                                                                
SEC. 7.08(b)(2)         Class A Distribution Amount             0.00            
                                                                
SEC. 7.08(b)(3)&(5)Subordination Increase/(Reduction) Amount    0.00            
                  Class A-1 Allocation                          0.00            
                  Class A-2 Allocation                          0.00            
                  Class A-3 Allocation                          0.00            
                  Class A-4 Allocation                          0.00            
                  Class A-5 Allocation                          0.00            
                  Class A-6 Allocation                          0.00            
                  Class A-7 Allocation                          0.00            
                  Class A-8 Allocation                          0.00            
                  Class A-9 Allocation                          0.00            
                  Class A-10 Allocation                         0.00            
                                                                
SEC. 7.08(b)(4)&(5)     Insured Payment                         0.00            
                  Class A-1 Allocation                          0.00            
                  Class A-2 Allocation                          0.00            
                  Class A-3 Allocation                          0.00            
                  Class A-4 Allocation                          0.00            
                  Class A-5 Allocation                          0.00            
                  Class A-6 Allocation                          0.00            
                  Class A-7 Allocation                          0.00            
                  Class A-8 Allocation                          0.00            
                  Class A-9 Allocation                          0.00            
                  Class A-10 Allocation                         0.00            
                  Class A-11IO Allocation                       0.00            
                  Class A-12IO Allocation                       0.00            
                                                                
SEC. 7.08(b)(6)                    Beginning       Principal       Ending          
                        Class      Balance *       Distribution    Balance *               
                        A-1     96,650,000.00               0.00     96,650,000.00           
                        A-2     113,600,000.00              0.00    113,600,000.00          
                        A-3     136,100,000.00              0.00    136,100,000.00          
                        A-4     66,800,000.00               0.00     66,800,000.00           
                        A-5     69,000,000.00               0.00     69,000,000.00           
                        A-6     40,750,000.00               0.00     40,750,000.00           
                        A-7     57,700,000.00               0.00     57,700,000.00           
                        A-8     44,400,000.00               0.00     44,400,000.00           
                        A-9     50,000,000.00               0.00     50,000,000.00           
                        A-10    225,000,000.00              0.00    225,000,000.00          
                        A-11IO  675,000,000.00                NA    675,000,000.00          
                        A-12IO  225,000,000.00                NA    225,000,000.00          
                          * Denotes Notional Amounts for Class A-11IO and A-12IO.                                   
                                                                
SEC. 7.08(b)(7)         Current Period Realized Losses (Recoveries)                             0.00            
                                                                
SEC. 7.08(b)(8)         Subordination Reduction Amount                        0.00            
                                                                
SEC. 7.08(b)(9)         Amount Distributed to the Class A-1 Certificates from the                                               
                        Supplemental Interest Account                         0.00            
                                                                
SEC. 7.08(b)(10)        Amount of Cap Payment                                 0.00            
SEC. 7.08(b)(11)        Amount on deposit in the Supplemental Interest Account                          0.00            
                        Supplemental Interest Account Earnings                0.00            
                                                                

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