<PAGE> 1
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
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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) AUGUST 25, 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.)
<TABLE>
<S> <C>
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)
</TABLE>
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 AUGUST 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 AUGUST 25, 1999
Payment Date.
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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 AUGUST 25, 1999
Payment Date.
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<PAGE> 1
Record Date: 07/31/99
Prior Period: 07/25/99
Distribution Date: 08/25/99
[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
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1A 337403CM8 6.25% 150,744,000.00 140,307,283.89 730,767.10 1,890,017.31 0.00
Factors per
Thousand 4.84773590 12.53792728
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PO 337403CN7 N/A 1,438,164.00 1,414,591.18 0.00 4,093.51 0.00
Factors per
Thousand 0.00000000 2.84634437
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1A-WIO* 337403CP2 0.35% 113,352,150.00 106,615,928.81 31,220.81 0.00 0.00
Factors per
Thousand 0.27543201 0.00000000
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2A 337403CQ0 6.28% 55,130,000.00 54,327,596.33 284,132.25 828,699.97 0.00
Factors per
Thousand 5.15385906 15.03174261
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A-R 337403CR8 6.25% 50.00 0.00 2,201.09 0.00 0.00
Factors per
Thousand 44021.80000000 0.00000000
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A-LR N/A 6.25% 50.00 0.00 0.00 0.00 0.00
Factors per
Thousand 0.00000000 0.00000000
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M 337403CS6 6.26% 1,914,000.00 1,886,573.82 9,836.88 6,099.53 0.00
Factors per
Thousand 5.13943574 3.18679728
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B-1 337403CT4 6.26% 1,064,000.00 1,048,753.68 5,468.36 3,390.75 0.00
Factors per
Thousand 5.13943609 3.18679511
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B-2 337403CU1 6.26% 744,000.00 733,339.05 3,823.74 2,370.98 0.00
Factors per
Thousand 5.13943548 3.18680108
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B-3 337403CV8 6.26% 744,000.00 733,339.05 3,823.74 2,370.98 0.00
Factors per
Thousand 5.13943548 3.18680108
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B-4 337403CW7 6.26% 426,000.00 419,895.74 2,189.40 1,357.58 0.00
Factors per
Thousand 5.13943662 3.18680751
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B-5 337403CX5 6.26% 425,259.00 419,165.35 2,185.59 1,355.21 0.00
Factors per
Thousand 5.13943268 3.18678735
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=====================================================================================
TOTALS 212,629,523.00 201,290,538.09 1,075,648.96 2,739,755.82 0.00
===================================================================================================================================
<CAPTION>
=======================================================
ENDING
TOTAL CERTIFICATE
CLASS DISTRIBUTION BALANCE
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<S> <C> <C>
1A 2,620,784.41 138,417,266.58
Factors per
Thousand 17.38566318 918.22736945
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PO 4,093.51 1,410,497.67
Factors per
Thousand 2.84634437 980.76274333
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1A-WIO* 31,220.81 104,871,154.32
Factors per
Thousand 0.27543201 925.18010748
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2A 1,112,832.22 53,498,896.36
Factors per
Thousand 20.18560167 970.41350190
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A-R 2,201.09 0.00
Factors per
Thousand 44021.80000000 0.00000000
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A-LR 0.00 0.00
Factors per
Thousand 0.00000000 0.00000000
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M 15,936.41 1,880,474.29
Factors per
Thousand 8.32623302 982.48395507
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B-1 8,859.11 1,045,362.93
Factors per
Thousand 8.32623120 982.48395677
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B-2 6,194.72 730,968.07
Factors per
Thousand 8.32623656 982.48396505
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B-3 6,194.72 730,968.07
Factors per
Thousand 8.32623656 982.48396505
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B-4 3,546.98 418,538.16
Factors per
Thousand 8.32624413 982.48394366
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B-5 3,540.80 417,810.14
Factors per
Thousand 8.32622002 982.48394508
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=================================
TOTALS 3,815,404.78 198,550,782.27
=======================================================
</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 * NOTIONAL BALANCE FAX: 704-383-6039
<PAGE> 2
Record Date: 07/31/99
Prior Period: 07/25/99
Distribution Date: 08/25/99
[FIRST UNION LOGO]
FIRST UNION RESIDENTIAL SECURITIZATIONS TRANSACTIONS
SERIES 1999-A
STATEMENT TO CERTIFICATEHOLDER
POOL 1
SCHEDULE OF REMITTANCE
<TABLE>
<S> <C>
Scheduled Principal 533,659.89
Prepayments 1,376,051.06
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TOTAL PRINCIPAL DISTRIBUTION 1,909,710.95
Interest 835,850.80
(Master Servicing Fee) 2,425.91
(Subservicing Fee) 47,636.17
(Trust Administration Fee) 1,031.01
(Trustee Fee) 606.48
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TOTAL INTEREST DISTRIBUTION 784,151.23
TOTAL AVAILABLE FUNDS 2,693,862.18
============
</TABLE>
<TABLE>
<CAPTION>
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DELINQUENCY NUMBER
INFORMATION OF LOANS PRINCIPAL BALANCE
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<S> <C> <C>
Delinquent 30-59 Days 2 463,486.00
Delinquent 60-89 Days 0 0.00
Delinquent 90+ Days 1 321,166.00
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</TABLE>
COLLATERAL INFORMATION
<TABLE>
<S> <C>
Weighted Average to Maturity 167
Weighted Average Loan Rate 6.891028%
Agg. Beginning Principal Balance of Loans 145,554,627.39
Agg. Ending Principal Balance of Loans 143,644,916.44
Agg. Schd. Principal Balance of Discount Pool 38,938,698.58
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 143,644,916.44
Adjusted Pool Amount (PO) 105,859,046.50
Class 1A-PO Deferred Amount --
Book Value of Real Estate acquired --
Pool 1 Distribution Amount 2,693,862.18
</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: 07/31/99
Prior Period: 07/25/99
Distribution Date: 08/25/99
[FIRST UNION LOGO]
FIRST UNION RESIDENTIAL SECURITIZATIONS TRANSACTIONS
SERIES 1999-A
STATEMENT TO CERTIFICATEHOLDER
POOL 1
CERTIFICATE INFORMATION
<TABLE>
<CAPTION>
Beginning Upaid 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 97.056392%
Class 1A-WIO 0.00 0.00 0.00 0.00 Group 1 M Percentage 1.059581%
Class 1M 0.00 0.00 0.00 0.00 Group 1 B-1 Percentage 0.589025%
Class 1B-1 0.00 0.00 0.00 0.00 Group 1 B-2 Percentage 0.411875%
Class 1B-2 0.00 0.00 0.00 0.00 Group 1 B-3 Percentage 0.411875%
Class 1B-3 0.00 0.00 0.00 0.00 Group 1 B-4 Percentage 0.235831%
Class 1B-4 0.00 0.00 0.00 0.00 Group 1 B-5 Percentage 0.235421%
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: 07/31/99
Prior Period: 07/25/99
Distribution Date: 08/25/99
[FIRST UNION LOGO]
FIRST UNION RESIDENTIAL SECURITIZATIONS TRANSACTIONS
SERIES 1999-A
STATEMENT TO CERTIFICATEHOLDER
POOL 2
SCHEDULE OF REMITTANCE
<TABLE>
<S> <C>
Scheduled Principal 53,226.13
Prepayments 776,818.74
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TOTAL PRINCIPAL DISTRIBUTION 830,044.87
Interest 304,664.34
(Master Servicing Fee) 928.93
(Subservicing Fee) 11,611.65
(Trust Administration Fee) 394.80
(Trustee Fee) 232.23
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TOTAL NET INTEREST DISTRIBUTION 291,496.73
TOTAL AVAILABLE FUNDS 1,121,541.60
============
</TABLE>
<TABLE>
<CAPTION>
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DELINQUENCY NUMBER
INFORMATION OF LOANS PRINCIPAL BALANCE
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<S> <C> <C>
Delinquent 30-59 Days 1 401,708.00
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Delinquent 60-89 Days 0 0.00
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Delinquent 90+ Days 0 0.00
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</TABLE>
COLLATERAL INFORMATION
<TABLE>
<S> <C>
Weighted Average to Maturity 351
Weighted Average Mortgage Rate 6.559476%
Agg. Beginning Principal Balance of Loans 55,735,910.19
Agg. Ending Principal Balance of Loans 54,905,865.32
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 54,905,865.32
Book Value of Real Estate acquired --
Pool 2 Distribution Amount 1,121,541.60
</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: 07/31/99
Prior Period: 07/25/99
Distribution Date: 08/25/99
[FIRST UNION LOGO]
FIRST UNION RESIDENTIAL SECURITIZATIONS TRANSACTIONS
SERIES 1999-A
STATEMENT TO CERTIFICATEHOLDER
POOL 2
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 2A 0.00 0.00 0.00 0.00 Group 2 A Percentage 97.473238%
Group 2 M Percentage 0.909533%
Group 2 B-1 Percentage 0.505613%
Group 2 B-2 Percentage 0.353549%
Group 2 B-3 Percentage 0.353549%
Group 2 B-4 Percentage 0.202435%
Group 2 B-5 Percentage 0.202083%
</TABLE>
