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Previous: RUSH ENTERPRISES INC \TX\, S-8, 1999-01-12 |
Next: FIRST UNION RESIDENTIAL SECURITIZATION TRANSACTIONS INC, 8-K, 1999-01-12 |
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): December 28, 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 December 28, 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
Monthly report distributed to holders of
EX-99.1 Mortgage Pass-Through Certificates, Series
1998-A Trust, relating to the December 28,
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: 12/30/1998
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 December 28,
1998 distribution.
<TABLE>
<CAPTION>
First Union Residential Securitization Transac
Mortgage Pass-Through Certificates
Record Date: 11/30/1998
Distribution Date: 12/28/1998
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% 41,132,920.63 239,942.04 1,956,488.09
SA-2 337403AL3 SEQ 6.90000% 63,021,543.96 362,373.88 2,997,620.84
SA-3 337403AM1 SEQ 7.00000% 9,700,000.00 56,583.33 0.00
SA-4 337403AN9 SEQ 7.00000% 15,091,158.33 88,031.76 23,944.79
SA-5 337403AP4 IO 7.00000% 0.00 5,251.80 0.00
SA-X 337403AQ2 IO 0.56267% 0.00 63,863.86 0.00
A-1 337403AR0 SEQ 6.87000% 104,616,362.34 598,928.67 4,791,891.29
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 11,333.44 0.00
A-7 337403AX7 SEQ 7.50000% 2,500,000.00 15,625.00 0.00
AX 337403AY5 IO 0.46208% 0.00 63,532.39 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% 7,642,647.81 44,582.11 8,863.12
B-1 337403BA6 SUB 7.00000% 2,952,840.77 17,224.90 3,424.39
B-2 337403BB4 SUB 7.00000% 2,084,358.13 12,158.76 2,417.21
B-3 337403BC2 SUB 7.00000% 1,215,875.49 7,092.61 1,410.04
B-4 337403BD0 SUB 7.00000% 694,785.71 4,052.92 805.74
B-5 337403BE8 SUB 7.00000% 1,042,180.86 6,079.39 1,208.61
Totals 301,192,674.03 1,885,395.19 9,788,074.12
</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 39,176,432.54 2,196,430.13 0.00
SA-2 0.00 60,023,923.12 3,359,994.72 0.00
SA-3 0.00 9,700,000.00 56,583.33 0.00
SA-4 0.00 15,067,213.54 111,976.55 0.00
SA-5 0.00 0.00 5,251.80 0.00
SA-X 0.00 0.00 63,863.86 0.00
A-1 0.00 99,824,471.05 5,390,819.96 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 11,333.44 0.00
A-7 0.00 2,500,000.00 15,625.00 0.00
AX 0.00 0.00 63,532.39 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 7,633,784.69 53,445.23 0.00
B-1 0.00 2,949,416.38 20,649.29 0.00
B-2 0.00 2,081,940.92 14,575.97 0.00
B-3 0.00 1,214,465.45 8,502.65 0.00
B-4 0.00 693,979.98 4,858.66 0.00
B-5 0.00 1,040,972.25 7,288.00 0.00
Totals 0.00 291,404,599.92 11,673,469.31 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 41,132,920.63 80,410.49 1,876,077.60 0.00 0.00
SA-2 79,081,309.00 63,021,543.96 123,200.42 2,874,420.42 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 15,091,158.33 984.12 22,960.67 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-1 126,652,919.00 104,616,362.34 123,697.02 4,668,194.27 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 7,642,647.81 8,863.12 0.00 0.00 0.00
B-1 2,975,452.00 2,952,840.77 3,424.39 0.00 0.00 0.00
B-2 2,100,319.00 2,084,358.13 2,417.21 0.00 0.00 0.00
B-3 1,225,186.00 1,215,875.49 1,410.04 0.00 0.00 0.00
B-4 700,106.00 694,785.71 805.74 0.00 0.00 0.00
B-5 1,050,161.64 1,042,180.86 1,208.61 0.00 0.00 0.00
Totals 350,053,227.64 301,192,674.03 346,421.16 9,441,652.96 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 1,956,488.09 39,176,432.54 0.75901530 1,956,488.09
SA-2 2,997,620.84 60,023,923.12 0.75901530 2,997,620.84
SA-3 0.00 9,700,000.00 1.00000000 0.00
SA-4 23,944.79 15,067,213.54 0.98777493 23,944.79
SA-5 0.00 0.00 0.00000000 0.00
SA-X 0.00 0.00 0.00000000 0.00
A-1 4,791,891.29 99,824,471.05 0.78817347 4,791,891.29
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 8,863.12 7,633,784.69 0.99124986 8,863.12
B-1 3,424.39 2,949,416.38 0.99124986 3,424.39
B-2 2,417.21 2,081,940.92 0.99124986 2,417.21
B-3 1,410.04 1,214,465.45 0.99124986 1,410.04
B-4 805.74 693,979.98 0.99124987 805.74
B-5 1,208.61 1,040,972.25 0.99124955 1,208.61
Totals 9,788,074.12 291,404,599.92 0.83245797 9,788,074.12
</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 51,614,813.00 796.92084964 1.55789560 36.34765857 0.00000000
SA-2 79,081,309.00 796.92084965 1.55789556 36.34765859 0.00000000
SA-3 9,700,000.00 1000.00000000 0.00000000 0.00000000 0.00000000
SA-4 15,253,691.00 989.34469893 0.06451684 1.50525338 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-1 126,652,919.00 826.00830021 0.97666142 36.85816566 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 7,701,171.00 992.40074139 1.15087952 0.00000000 0.00000000
B-1 2,975,452.00 992.40074113 1.15088061 0.00000000 0.00000000
B-2 2,100,319.00 992.40074008 1.15087756 0.00000000 0.00000000
B-3 1,225,186.00 992.40073752 1.15087832 0.00000000 0.00000000
B-4 700,106.00 992.40073646 1.15088287 0.00000000 0.00000000
B-5 1,050,161.64 992.40042704 1.15087997 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 37.90555417 759.01529547 0.75901530 37.90555417
SA-2 0.00000000 37.90555414 759.01529551 0.75901530 37.90555414
SA-3 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000
SA-4 0.00000000 1.56977023 987.77492870 0.98777493 1.56977023
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 37.83482708 788.17347313 0.78817347 37.83482708
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 1.15087952 991.24986187 0.99124986 1.15087952
B-1 0.00000000 1.15088061 991.24986053 0.99124986 1.15088061
B-2 0.00000000 1.15087756 991.24986252 0.99124986 1.15087756
B-3 0.00000000 1.15087832 991.24985921 0.99124986 1.15087832
B-4 0.00000000 1.15088287 991.24986788 0.99124987 1.15088287
B-5 0.00000000 1.15087997 991.24954707 0.99124955 1.15087997
<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% 41,132,920.63 239,942.04 0.00 0.00
SA-2 79,081,309.00 6.90000% 63,021,543.96 362,373.88 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% 15,091,158.33 88,031.76 0.00 0.00
SA-5 0.00 7.00000% 900,307.77 5,251.80 0.00 0.00
SA-X 0.00 0.56267% 136,201,761.75 63,863.86 0.00 0.00
A-1 126,652,919.00 6.87000% 104,616,362.34 598,928.67 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% 1,942,875.30 11,333.44 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 0.46208% 164,990,912.29 63,532.39 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% 7,642,647.81 44,582.11 0.00 0.00
B-1 2,975,452.00 7.00000% 2,952,840.77 17,224.90 0.00 0.00
B-2 2,100,319.00 7.00000% 2,084,358.13 12,158.76 0.00 0.00
B-3 1,225,186.00 7.00000% 1,215,875.49 7,092.61 0.00 0.00
B-4 700,106.00 7.00000% 694,785.71 4,052.92 0.00 0.00
B-5 1,050,161.64 7.00000% 1,042,180.86 6,079.39 0.00 0.00
Totals 350,053,227.64 1,885,395.19 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 0.00 239,942.04 0.00 39,176,432.54
SA-2 0.00 0.00 362,373.88 0.00 60,023,923.12
SA-3 0.00 0.00 56,583.33 0.00 9,700,000.00
SA-4 0.00 0.00 88,031.76 0.00 15,067,213.54
SA-5 0.00 0.00 5,251.80 0.00 857,484.62
SA-X 0.00 0.00 63,863.86 0.00 131,212,194.88
A-1 0.00 0.00 598,928.67 0.00 99,824,471.05
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 11,333.44 0.00 1,853,883.03
A-7 0.00 0.00 15,625.00 0.00 2,500,000.00
AX 0.00 0.00 63,532.39 0.00 160,192,405.04
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 44,582.11 0.00 7,633,784.69
B-1 0.00 0.00 17,224.90 0.00 2,949,416.38
B-2 0.00 0.00 12,158.76 0.00 2,081,940.92
B-3 0.00 0.00 7,092.61 0.00 1,214,465.45
B-4 0.00 0.00 4,052.92 0.00 693,979.98
B-5 0.00 0.00 6,079.39 0.00 1,040,972.25
Totals 0.00 0.00 1,885,395.19 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% 796.92084964 4.64870501 0.00000000 0.00000000
SA-2 79,081,309.00 6.90000% 796.92084965 4.58229491 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% 989.34469893 5.77117761 0.00000000 0.00000000
SA-5 0.00 7.00000% 796.92084587 4.64870907 0.00000000 0.00000000
SA-X 0.00 0.56267% 835.67462990 0.39184080 0.00000000 0.00000000
A-1 126,652,919.00 6.87000% 826.00830021 4.72889748 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% 826.00829945 4.81838207 0.00000000 0.00000000
A-7 2,500,000.00 7.50000% 1000.00000000 6.25000000 0.00000000 0.00000000
AX 0.00 0.46208% 881.97878156 0.33962004 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% 992.40074139 5.78900404 0.00000000 0.00000000
B-1 2,975,452.00 7.00000% 992.40074113 5.78900281 0.00000000 0.00000000
B-2 2,100,319.00 7.00000% 992.40074008 5.78900634 0.00000000 0.00000000
B-3 1,225,186.00 7.00000% 992.40073752 5.78900673 0.00000000 0.00000000
B-4 700,106.00 7.00000% 992.40073646 5.78900909 0.00000000 0.00000000
B-5 1,050,161.64 7.00000% 992.40042704 5.78900406 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 4.64870501 0.00000000 759.01529547
SA-2 0.00000000 0.00000000 4.58229491 0.00000000 759.01529551
SA-3 0.00000000 0.00000000 5.83333299 0.00000000 1000.00000000
SA-4 0.00000000 0.00000000 5.77117761 0.00000000 987.77492870
SA-5 0.00000000 0.00000000 4.64870907 0.00000000 759.01529617
SA-X 0.00000000 0.00000000 0.39184080 0.00000000 805.06082290
A-1 0.00000000 0.00000000 4.72889748 0.00000000 788.17347313
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 4.81838207 0.00000000 788.17347104
A-7 0.00000000 0.00000000 6.25000000 0.00000000 1000.00000000
AX 0.00000000 0.00000000 0.33962004 0.00000000 856.32778346
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 5.78900404 0.00000000 991.24986187
B-1 0.00000000 0.00000000 5.78900281 0.00000000 991.24986053
B-2 0.00000000 0.00000000 5.78900634 0.00000000 991.24986252
B-3 0.00000000 0.00000000 5.78900673 0.00000000 991.24985921
B-4 0.00000000 0.00000000 5.78900909 0.00000000 991.24986788
B-5 0.00000000 0.00000000 5.78900406 0.00000000 991.24954707
<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 11,764,424.27
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 11,764,424.27
Withdrawals
Reimbursement for Servicer Advances 0.00
Payment of Service Fee 90,954.99
Payment of Interest and Principal 11,673,469.28
Total Withdrawals (Pool Distribution Amount) 11,764,424.27
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 88,350.20
Trustee Fee 2,509.94
Spread 1 Fee 94.85
Supported Prepayment/Curtailment Interest Shortfall 0.00
Net Servicing Fee 90,954.99
</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 5,208.38 1,041.67 0.00 4,166.71
</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 6 1,611,876.90 0.656455% 0.553141%
60 Days 0 0.00 0.000000% 0.000000%
90+ Days 2 486,312.65 0.218818% 0.166886%
Foreclosure 0 0.00 0.000000% 0.000000%
REO 0 0.00 0.000000% 0.000000%
Totals 8 2,098,189.55 0.875274% 0.720026%
</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 2,034,858.31
</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% 7,980,774.98 2.73872649% 2.619651% 48.888889%
Class B-1 5,075,772.64 1.45000024% 5,031,358.60 1.72658860% 1.012138% 18.888886%
Class B-2 2,975,453.64 0.85000034% 2,949,417.68 1.01213834% 0.714450% 13.333331%
Class B-3 1,750,267.64 0.50000043% 1,734,952.23 0.59537572% 0.416763% 7.777776%
Class B-4 1,050,161.64 0.30000056% 1,040,972.25 0.35722574% 0.238150% 4.444442%
Class B-5 0.00 0.00000000% 0.00 0.00000000% 0.357226% 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 0.03431655%
Fraud 3,500,532.00 0.99999992% 3,500,532.00 1.20126175%
Special Hazard 2,941,436.00 0.84028250% 2,941,436.00 1.00939930%
<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 7.881678%
Weighted Average Net Coupon 7.507567%
Weighted Average Pass-Through Rate 7.000000%
Weighted Average Maturity(Stepdown Calculation ) 294
Begin Scheduled Collateral Loan Count 944
Number Of Loans Paid In Full 30
End Scheduled Collateral Loan Count 914
Begining Scheduled Collateral Balance 301,192,674.04
Ending Scheduled Collateral Balance 291,404,599.92
Ending Actual Collateral Balance at 30-Nov-1998 291,714,262.06
Monthly P &I Constant 2,324,674.33
Class A Optimal Amount 11,564,149.51
Ending Scheduled Balance for Premium Loans 291,404,599.92
Unpaid Principal Balance Of Outstanding Mortgage Loans
With Original LTV:
Less Than Or Equal To 80% 248,500,079.89
Greater Than 80%, less than or equal to 85% 10,274,699.30
Greater than 85%, less than or equal to 95% 29,548,674.42
Greater than 95% 3,390,808.45
</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 7.946476 7.828188
Weighted Average Net Rate 7.562670 7.483496
Weighted Average Maturity 260.00 333.00
Beginning Loan Count 482 462
Loans Paid In Full 16 14
Ending Loan Count 466 448
Beginning Scheduled Balance 136,201,761.75 164,990,912.29
Ending scheduled Balance 131,212,194.88 160,192,405.04
Record Date 11/30/1998 11/30/1998
Principal And Interest Constant 1,118,044.85 1,206,629.48
Scheduled Principal 216,108.18 130,312.98
Unscheduled Principal 4,773,458.69 4,668,194.27
Scheduled Interest 901,936.67 1,073,371.83
Servicing Fees 42,427.52 45,922.69
Master Servicing Fees 0.00 0.00
Trustee Fee 1,135.01 1,374.93
FRY Amount 0.00 0.00
Special Hazard Fee 0.00 0.00
Other Fee 0.00 0.00
Pool Insurance Fee 0.00 0.00
Spread Fee 1 0.00 94.85
Spread Fee 2 0.00 0.00
Spread Fee 3 0.00 0.00
Net Interest 858,374.14 1,025,979.37
Realized Loss Amount 0.00 0.00
Cumulative Realized Loss 0.00 0.00
</TABLE>
<TABLE>
<CAPTION> Delinquency Status By Groups
<S> <C> <C> <C> <C> <C> <C>
Group
30 Days 60 Days 90 + Days Foreclosure REO Bankruptc
1 Principal Balance 948,872.16 0.00 238,754.97 0.00 0.00 0.00
Percentage Of Balanc 0.723% 0.000% 0.182% 0.000% 0.000% 0.000%
Loan Count 4 0 1 0 0 0
Percentage Of Loans 0.858% 0.000% 0.215% 0.000% 0.000% 0.000%
2 Principal Balance 1,588,992.71 697,746.20 247,557.68 0.00 0.00 0.00
Percentage Of Balanc 0.992% 0.436% 0.155% 0.000% 0.000% 0.000%
Loan Count 5 2 1 0 0 0
Percentage Of Loans 1.116% 0.446% 0.223% 0.000% 0.000% 0.000%
</TABLE>
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