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Previous: IMPERIAL CREDIT MORTGAGE HOLDINGS INC, S-11/A, 1996-05-30 |
Next: EMERITUS CORPWA, 8-K/A, 1996-05-30 |
<PAGE>
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, DC 20549
Form 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): May 15, 1996
NATIONSBANK, N.A.
-----------------
(Exact name of registrant as specified in its charter)
(As Servicer on Behalf of NationsBank Auto Grantor Trust 1995-A)
United States
of America 33-97436 57-0236115
--------------- -------- ----------
(State or other (Commission File (IRS employer
Jurisdiction of Number) Identification No.)
Incorporation)
NationsBank, N.A.
NationsBank Corporate Center
100 North Tryon Street
Charlotte, North Carolina 28255
(704) 386-5000
(Address of principal executive offices)
----------------------------------------
Registrant's telephone number including area code: (704) 386-5000
Exhibit Index appears on Page 4
Page 1 of 4
<PAGE>
Item 5. Other Events
------------
The Registrant hereby incorporates by reference the information
contained in Exhibit 28 hereto in response to this Item 5.
Item 7. Financial Statements, Pro Forma Financial Statements and Exhibits
--------------------------------------------------------------------
(c) Exhibits
99 Monthly Servicers Certificate for NationsBank, N.A.
Class A & B, NationsBank Auto Trust 1995-A
Exhibit Index appears on Page 4
Page 2 of 4
<PAGE>
SIGNATURES
Pursuant to the requirements of the Securities and Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
NATIONSBANK, N.A.
-----------------
(Registrant)
(As Servicer on Behalf of NationsBank Auto Grantor Trust 1995-A)
Dated: May 30,1996 By: /s/ Leslie J. Fitzpatrick
-------------------------
Name: Leslie J. Fitzpatrick
Title: Senior Vice President
(Duly Authorized Officer)
Exhibit Index appears on Page 4
Page 3 of 4
<PAGE>
INDEX TO EXHIBITS
Sequentially
Exhibit Numbered
Number Exhibit Pages
- ------- ------- ------------
99 Monthly Servicers Certificate for NationsBank, N.A. 1-3
Class A & B, NationsBank Auto Trust 1995-A
Page 4 of 4
<PAGE>
<TABLE>
MONTHLY SERVICERS CERTIFICATE EXHIBIT 99
SERVICER: NATIONSBANK, N.A.
NATIONSBANK AUTO TRUST 1995-A
Pursuant to the Pooling and Servicing Agreement, dated as of December 6, 1995
(as amended and supplemented, the "Pooling and Servicing Agreement") between
NationsBank, N.A., NationsBank of Georgia,N.A.
NationsBank of Florida, N.A., and NationsBank of Texas, N.A. (as "Sellers");
NationsBank N.A. (as "Servicer"); and Chemical Bank (as "Trustee"), the Servicer
is required to prepare certain information each
month regarding distributions to Certificateholders' and the performance of the
Trust. The information with respect to the applicable Distribution Date and Due
Period is set forth below.
<CAPTION>
Collection Period Apr-96
Determination Date 5/8/96
Deposit Date 5/11/96
Distribution Date 5/15/96
- ------------------------------------------------------------------------------
<S> <C>
Pool Balance on the close of the last day of the preceding
Collection Period $ 876,509,284.93
Less: Principal Collections 38,830,893.61
Purchase Amount allocable to Principal 0.00
Realized Losses 832,410.33
-----------------
Pool Balance on the close of the last day of the Collection
Period 836,845,980.99
=================
Original Pool Balance 1,066,816,806.33
Pool Factor 78.44327%
- ------------------------------------------------------------------------------
Class A Certificate Balance
Beginning Class A Certificate Balance 850,214,006.38
Class A Principal Distribution to Class A Distribution
Account 38,473,404.82
-----------------
Ending Class A Certificate Balance 811,740,601.56
Original Class A Certificate Balance 1,034,812,302.14
Class A Pool Factor 78.44327%
Class B Certificate Balance
Beginning Class B Certificate Balance 26,295,278.55
Class B Principal Distribution to Class B Distribution
Account 1,189,899.12
--------------
Ending Class B Certificate Balance 25,105,379.43
Original Class B Certificate Balance 32,004,504.19
Class B Pool Factor 78.44327%
Class A Pass-Through Rate 5.8500%
Class B Pass-Through Rate 6.0000%
Class A Percentage 97.0000%
Class B Percentage 3.0000%
- ------------------------------------------------------------------------------
Available Interest
Collections and Liquidation Proceeds allocable to interest 7,638,093.67
Recoveries 105,493.96
Purchase Amount allocable to Interest 0.00
--------------
Total Interest Collections 7,743,587.63
Advances for the related Distribution Date 1,077,416.98
Less: Outstanding Advances to be reimbursed 1,071,819.87
--------------
Total Available Interest 7,749,184.74
Available Principal
Collections and Liquidation Proceeds allocable to Principal 38,830,893.61
Purchase Amount allocable to Principal 0.00
--------------
Total Available Principal 38,830,893.61
Deposit to Certificate Account
Available Interest 7,749,184.74
Available Principal 38,830,893.61
Withdrawal from Reserve Account 0.00
Less: Basic Servicing Fee to be withheld from Collections 730,424.40
--------------
Net Deposit to Certificate Account 45,849,653.95
Class A Interest Distribution
Class A Monthly Interest 4,144,793.28
Class A Interest Carryover Shortfall 0.00
--------------
Total 4,144,793.28
Class B Interest Distribution
Class B Monthly Interest 131,476.39
Class B Interest Carryover Shortfall 0.00
--------------
Total 131,476.39
Class A Principal Distribution
Class A Monthly Principal 38,473,404.82
Class A Principal Carryover Shortfall from the preceding
Distribution Date 0.00
--------------
Total 38,473,404.82
Class B Principal Distribution
Class B Monthly Principal 1,189,899.12
Class B Principal Carryover Shortfall from the preceding
Distribution Date 0.00
--------------
Total 1,189,899.12
Basic Servicing Fee (inc. unpaid amount from prior periods) 730,424.40
- ------------------------------------------------------------------------------
Distributions to the extent of Available Interest and Available
Reserve Amount (and Class B Percentage of Available Principal
with respect to Class A Interest Distribution)
Unpaid Basic Servicing Fee to Servicer 730,424.40
Class A Interest Distribution to Class A Distribution Account 4,144,793.28
Class B Interest Distribution to Class B Distribution Account 131,476.39
Distributions of Available Principal, Remaining Available Interest
and Remaining Available Reserve Amount
Class A Principal Distribution to Class A Distribution
Account 38,473,404.82
Class B Principal Distribution to Class B Distribution
Account 1,189,899.12
To Reserve Account up to Specified Reserve Account Balance 0.00
Any Remaining Amounts to Sellers 1,910,080.33
Specified Reserve Account Balance
Greater of:
(a) Reserve percentage applicable 4.00%
Pool Balance on last day of Collection Period times
reserve percentage applicable 33,473,839.24
(b) Lesser of: Deposit from Available Interest and Available
Principal
(i) floor amount stated or 13,335,210.08
(ii) Pool Balance on last day of Collection Period plus
interest through Scheduled Distribution Date 1,187,144,676.09
Specified Reserve Account Balance 33,473,839.24
Reserve Account
Beginning Balance 35,060,371.40
Deposit from Available Interest and Available
Principal 0.00
Investment Earnings 145,981.95
Less: Withdrawal from Reserve Account and
deposit to Certificate Account to cover:
Accrued and unpaid Basic Servicing Fees 0.00
Amounts to be distributed to Certificateholders' 0.00
Reimb. to Servicer for Outstanding Advances associated
with Defaulted Accounts 59,276.71
Less: Withdrawal by Sellers of Excess of Reserve
Account Balance Over Specified Reserve Account Balance 1,527,255.45
Less: Withdrawal of Investment Earnings by Servicer 145,981.95
--------------
Ending Balance 33,473,839.24
==============
Available Reserve Account Balance 33,473,839.24
- ------------------------------------------------------------------------------
Realized Losses 832,410.33
Net Loss Ratio (annualized)
For the cuNet Loss Ratio (annualized)
For the current Collection Period 1.02%
For the preceding Collection Period 0.98%
For the second preceding Collection Period 0.83%
Average Net Loss Ratio (Specified Reserve Account Balance
increases if greater than 1.50%) 0.94%
- ------------------------------------------------------------------------------
Delinquency Analysis
Number of Loans
30 to 59 days past due 982
60 to 89 days past due 200
90 or more days past due 186
--------------
Total 1,368
Principal Balance
30 to 59 days past due 11,024,455.37
60 to 89 days past due 2,286,353.07
90 or more days past due 2,211,940.03
--------------
Total 15,522,748.47
Delinquency Ratio
For the current Collection Period 0.54%
For the preceding Collection Period 0.55%
For the second preceding Collection Period 0.52%
Average Delinquency Ratio (Specified Reserve Account Balance
increases if greater than 1.25%) 0.54%
- ------------------------------------------------------------------------------
Collateral Repossessed and Held by the Trust
Number 193
Principal Balance 2,219,317.64
- ------------------------------------------------------------------------------
Weighted Average Computations
Weighted Average Coupon 10.48960%
Weighted Average Original Term 58.99
Weighted Average Remaining Term 42.34
</TABLE>
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