UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington D. C. 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): October 26, 1998
FIRST UNION RESIDENTIAL SECURITIZATION TRANSACTIONS, INC.
Mortgage Pass-Through Certificates, Series 1998-A Trust
North Carolina (governing law of 333-03574 52-2101235
Pooling and Servicing Agreement) (Commission 52-2101236
(State or other File Number) IRS EIN
jurisdiction
c/o Norwest Bank Minnesota, N.A.
11000 Broken Land Parkway 21044
Columbia, Maryland (Zip Code)
(Address of principal executive offices)
Registrant's telephone number, including area code: (410) 884-2000
(Former name or former address, if changed since last report)
ITEM 5. Other Events
On October 26, 1998 a distribution was made to holders of FIRST UNION
RESIDENTIAL SECURITIZATION TRANSACTIONS, INC., Mortgage Pass-Through
Certificates, Series 1998-A Trust.
ITEM 7. Financial Statements and Exhibits
(c) Exhibits furnished in accordance with Item 601(a) of Regulation S-K
Exhibit Number Description
EX-99.1 Monthly report distributed to holders of Mortgage Pass-
Through Certificates, Series 1998-A Trust, relating to
the October 26, 1998 distribution.
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 hereunto duly authorized.
FIRST UNION RESIDENTIAL SECURITIZATION TRANSACTIONS, INC.
Mortgage Pass-Through Certificates, Series 1998-A Trust
By: Norwest Bank Minnesota, N.A., as Trustee
By: /s/ Sherri J. Sharps, Vice President
By: Sherri J. Sharps, Vice President
Date: 11/04/1998
INDEX TO EXHIBITS
Exhibit Number Description
EX-99.1 Monthly report distributed to holders of Mortgage Pass-Through
Certificates, Series 1998-A Trust, relating to the October 26,
1998 distribution.
<TABLE>
<CAPTION>
First Union Residential Securitization Transac
Mortgage Pass-Through Certificates
Record Date: 09/30/1998
Distribution Date: 10/26/1998
FURST Series: 1998-A
Contact: Customer Service
Norwest Bank Minnesota, N.A.
Securities Administration Services
7485 New Horizon Way
Frederick, MD 21703
Telephone: (301) 846-8130
Fax: (301) 846-8152
Certificateholder Distribution Summary
Certificate Certificate Beginning
Class Pass-Through Certificate Interest Principal
Class CUSIP Description Rate Balance Distribution Distribution
<S> <C> <C> <C> <C> <C> <C>
SA-1 337403AK5 SEQ 7.00000% 44,476,017.57 259,443.44 1,341,631.43
SA-2 337403AL3 SEQ 6.90000% 68,143,648.77 391,825.98 2,055,572.10
SA-3 337403AM1 SEQ 7.00000% 9,700,000.00 56,583.33 0.00
SA-4 337403AN9 SEQ 7.00000% 15,138,319.48 88,306.86 23,591.00
SA-5 337403AP4 IO 7.00000% 0.00 5,678.64 0.00
SA-X 337403AQ2 IO 0.57184% 0.00 68,971.56 0.00
A-1 337403AR0 SEQ 6.87000% 112,752,661.15 645,508.99 3,271,468.56
A-2 337403AS8 SEQ 7.00000% 19,168,000.00 111,813.33 0.00
A-3 337403AT6 SEQ 7.00000% 18,130,000.00 105,758.33 0.00
A-4 337403AU3 SEQ 7.00000% 9,500,000.00 55,416.67 0.00
A-5 337403AV1 SEQ 7.00000% 2,700,000.00 15,750.00 0.00
A-6 337403AW9 IO 7.00000% 0.00 12,214.87 0.00
A-7 337403AX7 SEQ 7.50000% 2,500,000.00 15,625.00 0.00
AX 337403AY5 IO 0.47360% 0.00 68,332.49 0.00
R-I 337403BF5 R 7.00000% 0.00 0.00 0.00
R-II 337403BG3 R 7.00000% 0.00 0.00 0.00
M 337403AZ2 MEZ 7.00000% 7,660,133.72 44,684.11 8,745.03
B-1 337403BA6 SUB 7.00000% 2,959,596.69 17,264.31 3,378.76
B-2 337403BB4 SUB 7.00000% 2,089,127.02 12,186.57 2,385.01
B-3 337403BC2 SUB 7.00000% 1,218,657.34 7,108.83 1,391.25
B-4 337403BD0 SUB 7.00000% 696,375.34 4,062.19 795.00
B-5 337403BE8 SUB 7.00000% 1,044,565.31 6,093.30 1,192.51
Totals 317,877,102.39 1,992,628.80 6,710,150.65
</TABLE>
<TABLE>
<CAPTION>
Certificateholder Distribution Summary (continued)
Current Ending Cumulative
Realized Certificate Total Realized
Class Loss Balance Distribution Losses
<S> <C> <C> <C> <C>
SA-1 0.00 43,134,386.14 1,601,074.87 0.00
SA-2 0.00 66,088,076.67 2,447,398.08 0.00
SA-3 0.00 9,700,000.00 56,583.33 0.00
SA-4 0.00 15,114,728.49 111,897.86 0.00
SA-5 0.00 0.00 5,678.64 0.00
SA-X 0.00 0.00 68,971.56 0.00
A-1 0.00 109,481,192.59 3,916,977.55 0.00
A-2 0.00 19,168,000.00 111,813.33 0.00
A-3 0.00 18,130,000.00 105,758.33 0.00
A-4 0.00 9,500,000.00 55,416.67 0.00
A-5 0.00 2,700,000.00 15,750.00 0.00
A-6 0.00 0.00 12,214.87 0.00
A-7 0.00 2,500,000.00 15,625.00 0.00
AX 0.00 0.00 68,332.49 0.00
R-I 0.00 0.00 0.00 0.00
R-II 0.00 0.00 0.00 0.00
M 0.00 7,651,388.69 53,429.14 0.00
B-1 0.00 2,956,217.93 20,643.07 0.00
B-2 0.00 2,086,742.01 14,571.58 0.00
B-3 0.00 1,217,266.09 8,500.08 0.00
B-4 0.00 695,580.34 4,857.19 0.00
B-5 0.00 1,043,372.80 7,285.81 0.00
Totals 0.00 311,166,951.75 8,702,779.45 0.00
<FN>
All distributions required by the Pooling and Servicing Agreement have been calculated by the
Certificate Administrator on behalf of the Trustee.
Edward M. Frere, Jr.
Vice President, Norwest Bank Minnesota, N.A.
</FN>
</TABLE>
<TABLE>
<CAPTION>
Principal Distribution Statement
Original Beginning Scheduled Unscheduled
Face Certificate Principal Principal Realized
Class Amount Balance Distribution Distribution Accretion Loss (1)
<S> <C> <C> <C> <C> <C> <C>
SA-1 51,614,813.00 44,476,017.57 84,012.67 1,257,618.75 0.00 0.00
SA-2 79,081,309.00 68,143,648.77 128,719.49 1,926,852.61 0.00 0.00
SA-3 9,700,000.00 9,700,000.00 0.00 0.00 0.00 0.00
SA-4 15,253,691.00 15,138,319.48 1,477.26 22,113.73 0.00 0.00
SA-5 0.00 0.00 0.00 0.00 0.00 0.00
SA-X 0.00 0.00 0.00 0.00 0.00 0.00
A-1 126,652,919.00 112,752,661.15 128,517.32 3,142,951.24 0.00 0.00
A-2 19,168,000.00 19,168,000.00 0.00 0.00 0.00 0.00
A-3 18,130,000.00 18,130,000.00 0.00 0.00 0.00 0.00
A-4 9,500,000.00 9,500,000.00 0.00 0.00 0.00 0.00
A-5 2,700,000.00 2,700,000.00 0.00 0.00 0.00 0.00
A-6 0.00 0.00 0.00 0.00 0.00 0.00
A-7 2,500,000.00 2,500,000.00 0.00 0.00 0.00 0.00
AX 0.00 0.00 0.00 0.00 0.00 0.00
R-I 50.00 0.00 0.00 0.00 0.00 0.00
R-II 50.00 0.00 0.00 0.00 0.00 0.00
M 7,701,171.00 7,660,133.72 8,745.03 0.00 0.00 0.00
B-1 2,975,452.00 2,959,596.69 3,378.76 0.00 0.00 0.00
B-2 2,100,319.00 2,089,127.02 2,385.01 0.00 0.00 0.00
B-3 1,225,186.00 1,218,657.34 1,391.25 0.00 0.00 0.00
B-4 700,106.00 696,375.34 795.00 0.00 0.00 0.00
B-5 1,050,161.64 1,044,565.31 1,192.51 0.00 0.00 0.00
Totals 350,053,227.64 317,877,102.39 360,614.30 6,349,536.33 0.00 0.00
<FN>
(1) Amount Does Not Include Excess Special Hazard, Bankruptcy, or Fraud Losses Unless Otherwise Disclosed.
Please Refer to the Prospectus Supplement for a Full Description.
</FN>
</TABLE>
<TABLE>
<CAPTION>
Principal Distribution Statement (continued)
Total Ending Ending Total
Principal Certificate Certificate Principal
Class Reduction Balance Percentage Distribution
<S> <C> <C> <C> <C>
SA-1 1,341,631.43 43,134,386.14 0.83569781 1,341,631.43
SA-2 2,055,572.10 66,088,076.67 0.83569781 2,055,572.10
SA-3 0.00 9,700,000.00 1.00000000 0.00
SA-4 23,591.00 15,114,728.49 0.99088991 23,591.00
SA-5 0.00 0.00 0.00000000 0.00
SA-X 0.00 0.00 0.00000000 0.00
A-1 3,271,468.56 109,481,192.59 0.86441902 3,271,468.56
A-2 0.00 19,168,000.00 1.00000000 0.00
A-3 0.00 18,130,000.00 1.00000000 0.00
A-4 0.00 9,500,000.00 1.00000000 0.00
A-5 0.00 2,700,000.00 1.00000000 0.00
A-6 0.00 0.00 0.00000000 0.00
A-7 0.00 2,500,000.00 1.00000000 0.00
AX 0.00 0.00 0.00000000 0.00
R-I 0.00 0.00 0.00000000 0.00
R-II 0.00 0.00 0.00000000 0.00
M 8,745.03 7,651,388.69 0.99353575 8,745.03
B-1 3,378.76 2,956,217.93 0.99353575 3,378.76
B-2 2,385.01 2,086,742.01 0.99353575 2,385.01
B-3 1,391.25 1,217,266.09 0.99353575 1,391.25
B-4 795.00 695,580.34 0.99353575 795.00
B-5 1,192.51 1,043,372.80 0.99353543 1,192.51
Totals 6,710,150.65 311,166,951.75 0.88891325 6,710,150.65
</TABLE>
<TABLE>
<CAPTION>
Principal Distribution Factors Statement
Original Beginning Scheduled Unscheduled
Face Certificate Principal Principal
Class (2) Amount Balance Distribution Distribution Accretion
<S> <C> <C> <C> <C> <C>
SA-1 51,614,813.00 861.69095624 1.62768525 24.36546171 0.00000000
SA-2 79,081,309.00 861.69095620 1.62768537 24.36546176 0.00000000
SA-3 9,700,000.00 1000.00000000 0.00000000 0.00000000 0.00000000
SA-4 15,253,691.00 992.43648504 0.09684607 1.44972977 0.00000000
SA-5 0.00 0.00000000 0.00000000 0.00000000 0.00000000
SA-X 0.00 0.00000000 0.00000000 0.00000000 0.00000000
A-1 126,652,919.00 890.24921052 1.01472055 24.81546627 0.00000000
A-2 19,168,000.00 1000.00000000 0.00000000 0.00000000 0.00000000
A-3 18,130,000.00 1000.00000000 0.00000000 0.00000000 0.00000000
A-4 9,500,000.00 1000.00000000 0.00000000 0.00000000 0.00000000
A-5 2,700,000.00 1000.00000000 0.00000000 0.00000000 0.00000000
A-6 0.00 0.00000000 0.00000000 0.00000000 0.00000000
A-7 2,500,000.00 1000.00000000 0.00000000 0.00000000 0.00000000
AX 0.00 0.00000000 0.00000000 0.00000000 0.00000000
R-I 50.00 0.00000000 0.00000000 0.00000000 0.00000000
R-II 50.00 0.00000000 0.00000000 0.00000000 0.00000000
M 7,701,171.00 994.67129350 1.13554549 0.00000000 0.00000000
B-1 2,975,452.00 994.67129364 1.13554512 0.00000000 0.00000000
B-2 2,100,319.00 994.67129517 1.13554655 0.00000000 0.00000000
B-3 1,225,186.00 994.67129073 1.13554187 0.00000000 0.00000000
B-4 700,106.00 994.67129263 1.13554233 0.00000000 0.00000000
B-5 1,050,161.64 994.67098227 1.13554900 0.00000000 0.00000000
<FN>
(2) per $1000 denomination
</FN>
</TABLE>
<TABLE>
<CAPTION>
Principal Distribution Factors Statement (continued)
Total Ending Ending Total
Realized Principal Certificate Certificate Principal
Class Loss (3) Reduction Balance Percentage Distribution
<S> <C> <C> <C> <C> <C>
SA-1 0.00000000 25.99314716 835.69780908 0.83569781 25.99314716
SA-2 0.00000000 25.99314713 835.69780907 0.83569781 25.99314713
SA-3 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000
SA-4 0.00000000 1.54657650 990.88990920 0.99088991 1.54657650
SA-5 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000
SA-X 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000
A-1 0.00000000 25.83018683 864.41902369 0.86441902 25.83018683
A-2 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000
A-3 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000
A-4 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000
A-5 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000
A-6 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000
A-7 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000
AX 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000
R-I 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000
R-II 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000
M 0.00000000 1.13554549 993.53574801 0.99353575 1.13554549
B-1 0.00000000 1.13554512 993.53574852 0.99353575 1.13554512
B-2 0.00000000 1.13554655 993.53574862 0.99353575 1.13554655
B-3 0.00000000 1.13554187 993.53574886 0.99353575 1.13554187
B-4 0.00000000 1.13554233 993.53575030 0.99353575 1.13554233
B-5 0.00000000 1.13554900 993.53543327 0.99353543 1.13554900
<FN>
(3) Amount Does Not Include Excess Special Hazard, Bankrupcy, or Fraud Losses
Unless Otherwise Disclosed.
Please Refer to the Prospectus Supplement for a Full Description.
</FN>
</TABLE>
<TABLE>
<CAPTION>
Interest Distribution Statement
Beginning Payment of
Original Current Certificate/ Current Unpaid Current
Face Certificate Notional Accrued Interest Interest
Class Amount Rate Balance Interest Shortfall Shortfall
<S> <C> <C> <C> <C> <C> <C>
SA-1 51,614,813.00 7.00000% 44,476,017.57 259,443.44 0.00 0.00
SA-2 79,081,309.00 6.90000% 68,143,648.77 391,825.98 0.00 0.00
SA-3 9,700,000.00 7.00000% 9,700,000.00 56,583.33 0.00 0.00
SA-4 15,253,691.00 7.00000% 15,138,319.48 88,306.86 0.00 0.00
SA-5 0.00 7.00000% 973,480.70 5,678.64 0.00 0.00
SA-X 0.00 0.57184% 144,736,800.70 68,971.56 0.00 0.00
A-1 126,652,919.00 6.87000% 112,752,661.15 645,508.99 0.00 0.00
A-2 19,168,000.00 7.00000% 19,168,000.00 111,813.33 0.00 0.00
A-3 18,130,000.00 7.00000% 18,130,000.00 105,758.33 0.00 0.00
A-4 9,500,000.00 7.00000% 9,500,000.00 55,416.67 0.00 0.00
A-5 2,700,000.00 7.00000% 2,700,000.00 15,750.00 0.00 0.00
A-6 0.00 7.00000% 2,093,977.99 12,214.87 0.00 0.00
A-7 2,500,000.00 7.50000% 2,500,000.00 15,625.00 0.00 0.00
AX 0.00 0.47360% 173,140,301.68 68,332.49 0.00 0.00
R-I 50.00 7.00000% 0.00 0.00 0.00 0.00
R-II 50.00 7.00000% 0.00 0.00 0.00 0.00
M 7,701,171.00 7.00000% 7,660,133.72 44,684.11 0.00 0.00
B-1 2,975,452.00 7.00000% 2,959,596.69 17,264.31 0.00 0.00
B-2 2,100,319.00 7.00000% 2,089,127.02 12,186.57 0.00 0.00
B-3 1,225,186.00 7.00000% 1,218,657.34 7,108.83 0.00 0.00
B-4 700,106.00 7.00000% 696,375.34 4,062.19 0.00 0.00
B-5 1,050,161.64 7.00000% 1,044,565.31 6,093.30 0.00 0.00
Totals 350,053,227.64 1,992,628.80 0.00 0.00
</TABLE>
<TABLE>
<CAPTION>
Interest Distribution Statement (continued)
Remaining Ending
Non-Supported Total Unpaid Certificate/
Interest Realized Interest Interest Notional
Class Shortfall Losses (4) Distribution Shortfall Balance
<S> <C> <C> <C> <C> <C>
SA-1 0.00 0.00 259,443.44 0.00 43,134,386.14
SA-2 0.00 0.00 391,825.98 0.00 66,088,076.67
SA-3 0.00 0.00 56,583.33 0.00 9,700,000.00
SA-4 0.00 0.00 88,306.86 0.00 15,114,728.49
SA-5 0.00 0.00 5,678.64 0.00 944,115.38
SA-X 0.00 0.00 68,971.56 0.00 141,304,663.14
A-1 0.00 0.00 645,508.99 0.00 109,481,192.59
A-2 0.00 0.00 111,813.33 0.00 19,168,000.00
A-3 0.00 0.00 105,758.33 0.00 18,130,000.00
A-4 0.00 0.00 55,416.67 0.00 9,500,000.00
A-5 0.00 0.00 15,750.00 0.00 2,700,000.00
A-6 0.00 0.00 12,214.87 0.00 2,033,222.15
A-7 0.00 0.00 15,625.00 0.00 2,500,000.00
AX 0.00 0.00 68,332.49 0.00 169,862,288.60
R-I 0.00 0.00 0.00 0.00 0.00
R-II 0.00 0.00 0.00 0.00 0.00
M 0.00 0.00 44,684.11 0.00 7,651,388.69
B-1 0.00 0.00 17,264.31 0.00 2,956,217.93
B-2 0.00 0.00 12,186.57 0.00 2,086,742.01
B-3 0.00 0.00 7,108.83 0.00 1,217,266.09
B-4 0.00 0.00 4,062.19 0.00 695,580.34
B-5 0.00 0.00 6,093.30 0.00 1,043,372.80
Totals 0.00 0.00 1,992,628.80 0.00
<FN>
(4) Amount Does Not Include Excess Special Hazard, Bankrupcy, or Fraud Losses Unless Otherwise Disclosed.
Please Refer to the Prospectus Supplement for a Full Description.
</FN>
</TABLE>
<TABLE>
<CAPTION>
Interest Distribution Factors Statement
Beginning Payment of
Original Current Certificate/ Current Unpaid Current
Face Certificate Notional Accrued Interest Interest
Class (5) Amount Rate Balance Interest Shortfall Shortfall
<S> <C> <C> <C> <C> <C> <C>
SA-1 51,614,813.00 7.00000% 861.69095624 5.02653066 0.00000000 0.00000000
SA-2 79,081,309.00 6.90000% 861.69095620 4.95472299 0.00000000 0.00000000
SA-3 9,700,000.00 7.00000% 1000.00000000 5.83333299 0.00000000 0.00000000
SA-4 15,253,691.00 7.00000% 992.43648504 5.78921259 0.00000000 0.00000000
SA-5 0.00 7.00000% 861.69095584 5.02653286 0.00000000 0.00000000
SA-X 0.00 0.57184% 888.04190786 0.42317942 0.00000000 0.00000000
A-1 126,652,919.00 6.87000% 890.24921052 5.09667677 0.00000000 0.00000000
A-2 19,168,000.00 7.00000% 1000.00000000 5.83333316 0.00000000 0.00000000
A-3 18,130,000.00 7.00000% 1000.00000000 5.83333315 0.00000000 0.00000000
A-4 9,500,000.00 7.00000% 1000.00000000 5.83333368 0.00000000 0.00000000
A-5 2,700,000.00 7.00000% 1000.00000000 5.83333333 0.00000000 0.00000000
A-6 0.00 7.00000% 890.24920880 5.19311970 0.00000000 0.00000000
A-7 2,500,000.00 7.50000% 1000.00000000 6.25000000 0.00000000 0.00000000
AX 0.00 0.47360% 925.54232349 0.36527955 0.00000000 0.00000000
R-I 50.00 7.00000% 0.00000000 0.00000000 0.00000000 0.00000000
R-II 50.00 7.00000% 0.00000000 0.00000000 0.00000000 0.00000000
M 7,701,171.00 7.00000% 994.67129350 5.80224877 0.00000000 0.00000000
B-1 2,975,452.00 7.00000% 994.67129364 5.80224786 0.00000000 0.00000000
B-2 2,100,319.00 7.00000% 994.67129517 5.80224718 0.00000000 0.00000000
B-3 1,225,186.00 7.00000% 994.67129073 5.80224554 0.00000000 0.00000000
B-4 700,106.00 7.00000% 994.67129263 5.80224995 0.00000000 0.00000000
B-5 1,050,161.64 7.00000% 994.67098227 5.80224964 0.00000000 0.00000000
<FN>
(5) per $1000 denomination
</FN>
</TABLE>
<TABLE>
<CAPTION>
Interest Distribution Factors Statement (continued)
Remaining Ending
Non-Supported Total Unpaid Certificate/
Interest Realized Interest Interest Notional
Class Shortfall Losses (6) Distribution Shortfall Balance
<S> <C> <C> <C> <C> <C>
SA-1 0.00000000 0.00000000 5.02653066 0.00000000 835.69780908
SA-2 0.00000000 0.00000000 4.95472299 0.00000000 835.69780907
SA-3 0.00000000 0.00000000 5.83333299 0.00000000 1000.00000000
SA-4 0.00000000 0.00000000 5.78921259 0.00000000 990.88990920
SA-5 0.00000000 0.00000000 5.02653286 0.00000000 835.69780502
SA-X 0.00000000 0.00000000 0.42317942 0.00000000 866.98380811
A-1 0.00000000 0.00000000 5.09667677 0.00000000 864.41902369
A-2 0.00000000 0.00000000 5.83333316 0.00000000 1000.00000000
A-3 0.00000000 0.00000000 5.83333315 0.00000000 1000.00000000
A-4 0.00000000 0.00000000 5.83333368 0.00000000 1000.00000000
A-5 0.00000000 0.00000000 5.83333333 0.00000000 1000.00000000
A-6 0.00000000 0.00000000 5.19311970 0.00000000 864.41902398
A-7 0.00000000 0.00000000 6.25000000 0.00000000 1000.00000000
AX 0.00000000 0.00000000 0.36527955 0.00000000 908.01930999
R-I 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000
R-II 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000
M 0.00000000 0.00000000 5.80224877 0.00000000 993.53574801
B-1 0.00000000 0.00000000 5.80224786 0.00000000 993.53574852
B-2 0.00000000 0.00000000 5.80224718 0.00000000 993.53574862
B-3 0.00000000 0.00000000 5.80224554 0.00000000 993.53574886
B-4 0.00000000 0.00000000 5.80224995 0.00000000 993.53575030
B-5 0.00000000 0.00000000 5.80224964 0.00000000 993.53543327
<FN>
(6) Amount Does Not Include Excess Special Hazard, Bankrupcy,or Fraud Losses Unless
Otherwise Disclosed. Please Refer to the Prospectus Supplement for a Full Description.
</FN>
</TABLE>
<TABLE>
<CAPTION>
CERTIFICATE ACCOUNT
<S> <C>
Beginning Balance 0.00
Deposits
Payments of Interest and Principal 8,797,833.97
Liquidations, Insurance Proceeds, Reserve Funds 0.00
Proceeds from Repurchased Loans 0.00
Other Amounts (Servicer Advances) 0.00
Realized Losses 0.00
Total Deposits 8,797,833.97
Withdrawals
Reimbursement for Servicer Advances 0.00
Payment of Service Fee 96,096.18
Payment of Interest and Principal 8,701,737.79
Total Withdrawals (Pool Distribution Amount) 8,797,833.97
Ending Balance 0.00
</TABLE>
<TABLE>
<CAPTION>
PREPAYMENT/CURTAILMENT INTEREST SHORTFALL
<S> <C>
Total Prepayment/Curtailment Interest Shortfall 0.00
Servicing Fee Support 0.00
Non-Supported Prepayment/Curtailment Interest Shortfall 0.00
</TABLE>
<TABLE>
<CAPTION>
SERVICING FEES
<S> <C>
Gross Servicing Fee 93,347.65
Trustee Fee 2,648.97
Spread 1 Fee 99.55
Supported Prepayment/Curtailment Interest Shortfall 0.00
Net Servicing Fee 96,096.18
</TABLE>
<TABLE>
<CAPTION>
OTHER ACCOUNTS
Beginning Current Current Ending
Account Type Balance Withdrawals Deposits Balance
<S> <C> <C> <C> <C>
Capitalized Interest Account 0.00 0.00 0.00 0.00
Prefunding Account 0.00 0.00 0.00 0.00
A7 Interest Reserve Account 7,291.69 1,041.64 0.00 6,250.05
</TABLE>
<TABLE>
<CAPTION>
DELINQUENCY STATUS
Percentage Delinquent
Based On
Current Unpaid
Number Principal Number Unpaid
Of Loans Balance Of Loans Balance
<S> <C> <C> <C> <C>
30 Days 9 2,203,964.00 0.924025% 0.708290%
60 Days 1 239,032.00 0.102669% 0.076818%
90+ Days 1 246,557.00 0.102669% 0.079236%
Foreclosure 0 0.00 0.000000% 0.000000%
REO 0 0.00 0.000000% 0.000000%
Totals 11 2,689,553.00 1.129363% 0.864344%
</TABLE>
<TABLE>
<CAPTION>
OTHER INFORMATION
<S> <C>
Current Period Realized Loss - Includes Interest Shortfall 0.00
Cumulative Realized Losses - Includes Interest Shortfall 0.00
Current Period Class A Insufficient Funds 0.00
Principal Balance of Contaminated Properties 0.00
Periodic Advance 2,134,380.43
</TABLE>
<TABLE>
<CAPTION>
SUBORDINATION LEVEL/CLASS PERCENTAGE AND PREPAYMENT PERCENTAGE
Current Next
Original $ Original % Current $ Current % Class% Prepayment%
<S> <C> <C> <C> <C> <C> <C> <C>
Class M 8,051,224.64 2.30000012% 7,999,179.17 2.57070332% 2.458934% 48.888889%
Class B-1 5,075,772.64 1.45000024% 5,042,961.24 1.62066094% 0.950042% 18.888886%
Class B-2 2,975,453.64 0.85000034% 2,956,219.23 0.95004280% 0.670618% 13.333331%
Class B-3 1,750,267.64 0.50000043% 1,738,953.14 0.55884892% 0.391194% 7.777776%
Class B-4 1,050,161.64 0.30000056% 1,043,372.80 0.33530964% 0.223539% 4.444442%
Class B-5 0.00 0.00000000% 0.00 0.00000000% 0.335310% 6.666677%
<FN>
Please Refer to the Prospectus Supplement for a Full Description of Loss Exposure
</FN>
</TABLE>
<TABLE>
<CAPTION>
CREDIT ENHANCEMENT
Original $ Original % Current $ Current %
<S> <C> <C> <C> <C>
Bankruptcy 100,000.00 0.02856708% 100,000.00 0.03213709%
Fraud 3,500,532.00 0.99999992% 3,500,532.00 1.12496908%
Special Hazard 2,941,436.00 0.84028250% 2,941,436.00 0.94529190%
<FN>
Limit of Subordinate's Exposure to Certain Types of Losses
</FN>
</TABLE>
<TABLE>
<CAPTION>
COLLATERAL STATEMENT
<S> <C>
Collateral Description Fixed 30 Year
Weighted Average Gross Coupon 7.881096%
Weighted AverageNet Coupon 7.518329%
Weighted Average Pass-Through Rate 7.000000%
Weighted Average Maturity(Stepdown Calculation ) 296
Begin Scheduled Collateral Loan Count 995
Number Of Loans Paid In Full 21
End Scheduled Collateral Loan Count 974
Begining Scheduled Collateral Balance 317,877,102.38
Ending Scheduled Collateral Balance 311,166,951.74
Ending Actual Collateral Balance at 30-Sep-1998 311,489,607.81
Monthly P &I Constant 2,448,297.63
Class A Optimal Amount 8,593,492.58
Ending Scheduled Balance for Premium Loans 311,166,951.74
Unpaid Principal Balance Of Outstanding Mortgage Loans
With Original LTV:
Less Than Or Equal To 80% 265,469,522.23
Greater Than 80%, less than or equal to 85% 10,510,841.81
Greater than 85%, less than or equal to 95% 32,107,996.25
Greater than 95% 3,401,247.52
</TABLE>
<TABLE>
<CAPTION>
<S> <C>
</TABLE>
<TABLE>
<CAPTION>
Group Level Collateral Statement
<S> <C>
Group ID 1 2
Collateral Description Fixed 30 Year Fixed 30 Year
Weighted Average Coupon Rate 7.955166 7.819177
Weighted Average Net Rate 7.571837 7.473599
Weighted Average Maturity 262.00 335.00
Begining Loan Count 510.00 485.00
Loans Paid In Full 11.00 10.00
Ending Loan Count 499.00 475.00
Begining Scheduled Balance 144,736,800.70 173,140.301.68
Ending Scheduled Balance 141,304,663.14 169,862,288.60
Record Date 09/30/98 09/30/98
Principal And Interest Constant 1,185,056.84 1,263,240.79
Scheduled Principal 225,552.46 135,061.84
Unscheduled Principal 3,206,585.10 3,142,951.24
Scheduled Interest 959,504.38 1,128,178.95
Servicing Fee 45,028.67 48,318.97
Trustee Fee 1,206.14 1,442.84
Net Interest 913,269.57 1,078,317.59
Pool Insurance Fee 0.00 0.00
Spread 1 0.00 99.55
</TABLE>
<TABLE>
<CAPTION> Delinquency Status By Groups
<S> <C>
Groups 30 Days 60 Days 90 + Days
Number Balance Number Balance Number Balance
1 5 1,131,378.50 1 239,032.62 0 0.00 0
2 5 1,331,638.62 1 285,681.39 2 600,733.31 0
Total 10 $2,463,017.12 2 $524,714.01 2 $600,733.31 0
</TABLE>