<PAGE> 1
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) NOVEMBER 26, 1999.
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First Union Residential Securitization Transactions, Inc.
(Issuer in respect of the FURST Mortgage Loan Trust
Mortgage Pass-Through Certificates Series 1999-A)
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(Exact name of registrant as specified in its charter)
Delaware 333-3574 56-1967773
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(State or other jurisdiction (Commission (IRS Employer
of incorporation) File Number) Identification No.)
c/o First Union National Bank, 230 S. Tryon Street, 9th Floor,
Charlotte, NC 28288-1179
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(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code (704) 383-9568
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(Former name or former address, if changed since last report.)
<PAGE> 2
Item 5. See the monthly statement to Bondholders attached as Exhibit 20.1
hereto reflecting the required information for the NOVEMBER 1999 payment to the
FURST Mortgage Loan Trust 1999-A Mortgage Pass-Through Certificates Series
1999-A
Item 7. Financial Statements and Exhibits.
(c) Exhibits.
Item 601 (a) of Regulation.
S-K Exhibit Number.
20.1 Monthly statement to holders of FURST Mortgage Loan Trust 1999-A
Mortgage Pass-Through Certificates Series 1999-A relating to the NOVEMBER 26,
1999 Payment Date.
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<PAGE> 3
Signatures
Pursuant to the requirements of the Securities Exchange Act of 1934,
the Registrant has duly caused this report to be signed on behalf of First
Union Residential Securitization Transactions, Inc. by the undersigned
thereunto duly authorized.
Dated: DECEMBER 3, 1999 By: First Union National Bank, as Trust
Administrator and on behalf of First Union
Residential Securitization Transactions, Inc.
BY: Robert Ashbaugh
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Vice President
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<PAGE> 4
EXHIBIT INDEX
20.1 Monthly statement to holders of FURST Mortgage Loan Trust 1999-A
Mortgage Pass-Through Certificates Series 1999-A relating to the NOVEMBER 26,
1999 Payment Date.
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<PAGE> 1
Record Date: 10/31/99
Prior Period: 10/25/99
Distribution Date: 11/26/99
[FIRST UNION LOGO]
FIRST UNION RESIDENTIAL SECURITIZATIONS TRANSACTIONS
SERIES 1999-A
STATEMENT TO CERTIFICATEHOLDER
<TABLE>
<CAPTION>
ORIGINAL BEGINNING CURRENT
CERTIFICATE CERTIFICATE CERTIFICATE REALIZED
CLASS CUSIP RATE BALANCE BALANCE INTEREST PRINCIPAL LOSS
- ---------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C>
1A 337403CM8 6.25% 150,744,000.00 135,150,012.86 703,906.32 1,203,605.32 0.00
Factors per 4.66954784 7.98443268
Thousand
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PO 337403CN7 N/A 1,438,164.00 1,399,888.38 0.00 14,597.60 0.00
Factors per 0.00000000 10.15016368
Thousand
- ---------------------------------------------------------------------------------------------------------------------------
1A-WIO* 337403CP2 0.35% 113,352,150.00 102,292,470.72 29,932.46 0.00 0.00
Factors per 0.26406610 0.00000000
Thousand
- ---------------------------------------------------------------------------------------------------------------------------
2A 337403CQ0 6.28% 55,130,000.00 51,991,916.06 271,917.45 56,758.95 0.00
Factors per 4.93229548 1.02954743
Thousand
- ---------------------------------------------------------------------------------------------------------------------------
A-R 337403CR8 6.25% 50.00 0.00 2,201.23 0.00 0.00
Factors per 44024.60000000 0.00000000
Thousand
- ---------------------------------------------------------------------------------------------------------------------------
A-LR N/A 6.25% 50.00 0.00 0.00 0.00 0.00
Factors per 0.00000000 0.00000000
Thousand
- ---------------------------------------------------------------------------------------------------------------------------
M 337403CS6 6.26% 1,914,000.00 1,868,074.87 9,740.51 6,298.50 0.00
Factors per 5.08908568 3.29075235
Thousand
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B-1 337403CT4 6.26% 1,064,000.00 1,038,470.05 5,414.78 3,501.36 0.00
Factors per 5.08907895 3.29075188
Thousand
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B-2 337403CU1 6.26% 744,000.00 726,148.24 3,786.28 2,448.32 0.00
Factors per 5.08908602 3.29075269
Thousand
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B-3 337403CV8 6.26% 744,000.00 726,148.24 3,786.28 2,448.32 0.00
Factors per 5.08908602 3.29075269
Thousand
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B-4 337403CW7 6.26% 426,000.00 415,778.41 2,167.95 1,401.86 0.00
Factors per 5.08908451 3.29075117
Thousand
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B-5 337403CX5 6.26% 425,259.00 415,055.20 2,164.18 1,399.42 0.00
Factors per 5.08908689 3.29074752
Thousand
----------------------------------------------------------------------------------
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Totals 212,629,523.00 193,731,492.31 1,035,017.44 1,292,459.65 0.00
===========================================================================================================================
<CAPTION>
ENDING
CERTIFICATE
CLASS DISTRIBUTION BALANCE
- ----------------------------------------------------
<S> <C> <C>
1A 1,907,511.64 133,946,407.54
Factors per 12.65398052 888.56874927
Thousand
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PO 14,597.60 1,385,290.78
Factors per 10.15016368 963.23561152
Thousand
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1A-WIO* 29,932.46 101,449,435.50
Factors per 0.26406610 894.99348270
Thousand
- ----------------------------------------------------
2A 328,676.40 51,935,157.11
Factors per 5.96184292 942.04892273
Thousand
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A-R 2,201.23 0.00
Factors per 44024.60000000 0.00000000
Thousand
- ----------------------------------------------------
A-LR 0.00 0.00
Factors per 0.00000000 0.00000000
Thousand
- ----------------------------------------------------
M 16,039.01 1,861,776.37
Factors per 8.37983804 972.71492685
Thousand
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B-1 8,916.14 1,034,968.69
Factors per 8.37983083 972.71493421
Thousand
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B-2 6,234.60 723,699.92
Factors per 8.37983871 972.71494624
Thousand
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B-3 6,234.60 723,699.92
Factors per 8.37983871 972.71494624
Thousand
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B-4 3,569.81 414,376.55
Factors per 8.37983568 972.71490610
Thousand
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B-5 3,563.60 413,655.78
Factors per 8.37983441 972.71493372
Thousand
- ----------------------------------------------------
-------------------------------
Totals 2,327,477.09 192,439,032.66
====================================================
</TABLE>
FIRST UNION NATIONAL BANK ROBERT ASHBAUGH
STRUCTURED FINANCE TRUST SERVICES VICE PRESIDENT
230 SOUTH TRYON STREET, 9TH FLOOR PHONE: 704-383-9568
CHARLOTTE, NORTH CAROLINA 28288-1179 FAX: 704-383-6039
<PAGE> 2
Record Date: 10/31/99
Prior Period: 10/25/99
Distribution Date: 11/26/99
[FIRST UNION LOGO]
FIRST UNION RESIDENTIAL SECURITIZATIONS TRANSACTIONS
SERIES 1999-A
STATEMENT TO CERTIFICATEHOLDER
POOL 1
SCHEDULE OF REMITTANCE
<TABLE>
<S> <C> <C>
Scheduled Principal 537,823.05
Prepayments 696,506.57
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TOTAL PRINCIPAL DISTRIBUTION 1,234,329.62
Interest 805,678.76
(Master Servicing Fee) 2,338.92
(Subservicing Fee) 46,005.38
(Trust Administration Fee) 994.04
(Trustee Fee) 584.73
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TOTAL INTEREST DISTRIBUTION 755,755.69
TOTAL AVAILABLE FUNDS 1,990,085.31
============
</TABLE>
<TABLE>
<CAPTION>
- ------------------------------------------------------------------------------
DELINQUENCY NUMBER
Information of Loans Principal Balance
- ------------------------------------------------------------------------------
<S> <C> <C>
Delinquent 30-59 Days 0 0.00
Delinquent 60-89 Days 0 0.00
Delinquent 90+ Days 0 0.00
- ------------------------------------------------------------------------------
</TABLE>
COLLATERAL INFORMATION
<TABLE>
<S> <C>
Weighted Average to Maturity 164
Weighted Average Loan Rate 6.889316%
Agg. Beginning Principal Balance of Loans 140,335,320.49
Agg. Ending Principal Balance of Loans 139,100,990.87
Agg. Schd. Principal Balance of Discount Pool 38,042,849.77
Previous Scheduled Principal Payments --
Previous Prepayments --
Prior Weighted Average to Maturity N/A
Prior Weighted Average Loan Rate N/A
Realized Losses --
Adjusted Pool Amount 139,100,990.87
Adjusted Pool Amount (PO) 102,412,120.78
Class 1A-PO Deferred Amount --
Book Value of Real Estate acquired --
Pool 1 Distribution Amount 1,990,085.31
</TABLE>
FIRST UNION NATIONAL BANK ROBERT ASHBAUGH
STRUCTURED FINANCE TRUST SERVICES VICE PRESIDENT
230 SOUTH TRYON STREET, 9TH FLOOR PHONE: 704-383-9568
CHARLOTTE, NORTH CAROLINA 28288-1179 FAX: 704-383-6039
<PAGE> 3
Record Date: 10/31/99
Prior Period: 10/25/99
Distribution Date: 11/26/99
[FIRST UNION LOGO]
FIRST UNION RESIDENTIAL SECURITIZATIONS TRANSACTIONS
SERIES 1999-A
STATEMENT TO CERTIFICATEHOLDER
POOL 1
CERTIFICATE INFORMATION
<TABLE>
<CAPTION>
Beginning Unpaid Ending Unpaid Non-Supported Realized Loss Class
Interest Shortfall Interest Shortfall Interest Shortfall Interest Portion Percentage
<S> <C> <C> <C> <C> <C> <C>
Class A-1 0.00 0.00 0.00 0.00 Group 1 A Percentage 96.980422%
Class 1A-WIO 0.00 0.00 0.00 0.00 Group 1 M Percentage 1.086927%
Class 1M 0.00 0.00 0.00 0.00 Group 1 B-1 Percentage 0.604227%
Class 1B-1 0.00 0.00 0.00 0.00 Group 1 B-2 Percentage 0.422505%
Class 1B-2 0.00 0.00 0.00 0.00 Group 1 B-3 Percentage 0.422505%
Class 1B-3 0.00 0.00 0.00 0.00 Group 1 B-4 Percentage 0.241918%
Class 1B-4 0.00 0.00 0.00 0.00 Group 1 B-5 Percentage 0.241497%
Class 1B-5 0.00 0.00 0.00 0.00
</TABLE>
FIRST UNION NATIONAL BANK ROBERT ASHBAUGH
STRUCTURED FINANCE TRUST SERVICES VICE PRESIDENT
230 SOUTH TRYON STREET, 9TH FLOOR PHONE: 704-383-9568
CHARLOTTE, NORTH CAROLINA 28288-1179 FAX: 704-383-6039
<PAGE> 4
Record Date: 10/31/99
Prior Period: 10/25/99
Distribution Date: 11/26/99
[FIRST UNION LOGO]
FIRST UNION RESIDENTIAL SECURITIZATIONS TRANSACTIONS
SERIES 1999-A
STATEMENT TO CERTIFICATEHOLDER
POOL 2
SCHEDULE OF REMITTANCE
<TABLE>
<S> <C>
Scheduled Principal 52,134.72
Prepayments 5,995.31
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TOTAL PRINCIPAL DISTRIBUTION 58,130.03
Interest 291,876.59
(Master Servicing Fee) 889.94
(Subservicing Fee) 11,124.20
(Trust Administration Fee) 378.22
(Trustee Fee) 222.48
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TOTAL NET INTEREST DISTRIBUTION 279,261.74
TOTAL AVAILABLE FUNDS 337,391.77
==========
</TABLE>
<TABLE>
<CAPTION>
- ------------------------------------------------------------------------------
DELINQUENCY NUMBER
Information of Loans Principal Balance
- ------------------------------------------------------------------------------
<S> <C> <C>
Delinquent 30-59 Days 0 0.00
Delinquent 60-89 Days 0 0.00
Delinquent 90+ Days 0 0.00
- ------------------------------------------------------------------------------
</TABLE>
COLLATERAL INFORMATION
<TABLE>
<S> <C>
Weighted Average to Maturity 348
Weighted Average Mortgage Rate 6.559494%
Agg. Beginning Principal Balance of Loans 53,396,171.31
Agg. Ending Principal Balance of Loans 53,338,041.28
Previous Scheduled Principal Payments --
Previous Prepayments --
Prior Weighted Average to Maturity N/A
Prior Weighted Average Loan Rate N/A
Realized Losses --
Adjusted Pool Amount 53,338,041.28
Book Value of Real Estate acquired --
Pool 2 Distribution Amount 337,391.77
</TABLE>
FIRST UNION NATIONAL BANK ROBERT ASHBAUGH
STRUCTURED FINANCE TRUST SERVICES VICE PRESIDENT
230 SOUTH TRYON STREET, 9TH FLOOR PHONE: 704-383-9568
CHARLOTTE, NORTH CAROLINA 28288-1179 FAX: 704-383-6039
<PAGE> 5
Record Date: 10/31/99
Prior Period: 10/25/99
Distribution Date: 11/26/99
[FIRST UNION LOGO]
FIRST UNION RESIDENTIAL SECURITIZATIONS TRANSACTIONS
SERIES 1999-A
STATEMENT TO CERTIFICATEHOLDER
POOL 2
<TABLE>
<CAPTION>
CERTIFICATE INFORMATION
Beginning Unpaid Ending Unpaid Non-Supported Realized Loss Class
Interest Shortfall Interest Shortfall Interest Shortfall Interest Portion Percentage
<S> <C> <C> <C> <C> <C> <C>
Class 2A 0.00 0.00 0.00 0.00 Group 2 A Percentage 97.370120%
Group 2 M Percentage 0.946651%
Group 2 B-1 Percentage 0.526247%
Group 2 B-2 Percentage 0.367977%
Group 2 B-3 Percentage 0.367977%
Group 2 B-4 Percentage 0.210697%
Group 2 B-5 Percentage 0.210330%
</TABLE>
FIRST UNION NATIONAL BANK ROBERT ASHBAUGH
STRUCTURED FINANCE TRUST SERVICES VICE PRESIDENT
230 SOUTH TRYON STREET, 9TH FLOOR PHONE: 704-383-9568
CHARLOTTE, NORTH CAROLINA 28288-1179 FAX: 704-383-6039
