<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) DECEMBER 27, 1999.
First Union Residential Securitization Transactions, Inc.
(Issuer in respect of the FURST Mortgage Loan Trust
Mortgage Pass-Through Certificates Series 1999-A)
(Exact name of registrant as specified in its charter)
Delaware 333-3574 56-1967773
(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
(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code (704) 383-9568
- -------------------------------------------------------------------------------
(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 DECEMBER 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 DECEMBER 27, 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: JANUARY 11, 2000 By: First Union National Bank, as Trust Administrator
and on behalf of First Union Residential
Securitization Transactions, Inc.
BY: /s/ Robert Ashbaugh
-------------------------------------------
Robert Ashbaugh
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 DECEMBER 27, 1999
Payment Date.
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<PAGE> 1
[FIRST UNION LOGO]
FIRST UNION RESIDENTIAL SECURITIZATIONS TRANSACTIONS
SERIES 1999-A
STATEMENT TO CERTIFICATEHOLDER
RECORD DATE: 11/30/99
PRIOR PERIOD: 11/25/99
DISTRIBUTION DATE: 12/27/99
<TABLE>
<CAPTION>
====================================================================================================================================
Original Beginning Current Ending
Certificate Certificate Certificate Realized Total Certificate
Class Cusip Rate Balance Balance Interest Principal Loss Distribution Balance
- ------------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
1A 337403CM8 6.25% 150,744,000.00 133,946,407.54 697,637.54 1,062,441.60 0.00 1,760,079.14 132,883,965.94
Factors 4.62796224 7.04798599 11.67594823 881.52076328
per
Thousand
- ------------------------------------------------------------------------------------------------------------------------------------
PO 337403CN7 N/A 1,438,164.00 1,385,290.78 0.00 5,128.14 0.00 5,128.14 1,380,162.64
Factors 0.00000000 3.56575467 3.56575467 959.66985685
per
Thousand
- ------------------------------------------------------------------------------------------------------------------------------------
1A-WIO* 337403CP2 0.35% 113,352,150.00 101,449,435.50 29,772.91 0.00 0.00 29,772.91 100,568,160.60
Factors 0.26265854 0.00000000 0.26265854 887.21881852
per
Thousand
- ------------------------------------------------------------------------------------------------------------------------------------
2A 337403CQ0 6.28% 55,130,000.00 51,935,157.11 271,621.43 59,409.87 0.00 331,031.30 51,875,747.24
Factors 4.92692599 1.07763232 6.00455832 940.97129040
per
Thousand
- ------------------------------------------------------------------------------------------------------------------------------------
A-R 337403CR8 6.25% 50.00 0.00 2,201.02 0.00 0.00 2,201.02 0.00
Factors 44020.40000000 0.00000000 4020.40000000 0.00000000
per
Thousand
- ------------------------------------------------------------------------------------------------------------------------------------
A-LR N/A 6.25% 50.00 0.00 0.00 0.00 0.00 0.00 0.00
Factors 0.00000000 0.00000000 0.00000000 0.00000000
per
Thousand
- ------------------------------------------------------------------------------------------------------------------------------------
M 337403CS6 6.26% 1,914,000.00 1,861,776.37 9,707.70 6,342.29 0.00 16,049.99 1,855,434.08
Factors 5.07194357 3.31363114 8.38557471 969.40129572
per
Thousand
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B-1 337403CT4 6.26% 1,064,000.00 1,034,968.69 5,396.55 3,525.71 0.00 8,922.26 1,031,442.98
Factors 5.07194549 3.31363722 8.38558271 969.40129699
per
Thousand
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B-2 337403CU1 6.26% 744,000.00 723,699.92 3,773.53 2,465.34 0.00 6,238.87 721,234.58
Factors 5.07194892 3.31362903 8.38557796 969.40131720
per
Thousand
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B-3 337403CV8 6.26% 744,000.00 723,699.92 3,773.53 2,465.34 0.00 6,238.87 721,234.58
Factors 5.07194892 3.31362903 8.38557796 969.40131720
per
Thousand
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B-4 337403CW7 6.26% 426,000.00 414,376.55 2,160.65 1,411.61 0.00 3,572.26 412,964.94
Factors 5.07194836 3.31363850 8.38558685 969.40126761
per
Thousand
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B-5 337403CX5 6.26% 425,259.00 413,655.78 2,156.89 1,409.15 0.00 3,566.04 412,246.63
Factors 5.07194439 3.31362770 8.38557209 969.40130603
per
Thousand
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--------------------------------------------------------------------------------------------------
TOTALS 212,629,523.00 192,439,032.66 1,028,201.75 1,144,599.05 0.00 2,172,800.80 191,294,433.61
====================================================================================================================================
</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
* Notional Balance
<PAGE> 2
[FIRST UNION LOGO]
FIRST UNION RESIDENTIAL SECURITIZATIONS TRANSACTIONS
SERIES 1999-A
STATEMENT TO CERTIFICATEHOLDER
RECORD DATE: 11/30/99
PRIOR PERIOD: 11/25/99
DISTRIBUTION DATE: 12/27/99
<TABLE>
<CAPTION>
====================================================================================================================================
POOL 1
--------------------------------------------------- ------------------------------------------------------------------------
SCHEDULE OF REMITTANCE COLLATERAL INFORMATION
---------------------- ----------------------
<S> <C> <C> <C>
Scheduled Principal 538,894.26
Prepayments 544,915.36 Weighted Average to Maturity 163
------------ Weighted Average Loan Rate 6.890402%
TOTAL PRINCIPAL DISTRIBUTION 1,083,809.62
Interest 798,718.12 Agg. Beginning Principal Balance of Loans 139,100,990.87
Agg. Ending Principal Balance of Loans 138,017,181.25
(Master Servicing Fee) 2,318.35 Agg. Schd. Principal Balance of Discount Pool 1 Loans 37,651,555.37
(Subservicing Fee) 45,591.69
(Trust Administration Fee) 985.30 Previous Scheduled Principal Payments 537,823.05
(Trustee Fee) 579.59 Previous Prepayments 696,506.57
------------ Prior Weighted Average to Maturity 164
TOTAL INTEREST DISTRIBUTION 749,243.19 Prior Weighted Average Loan Rate 6.889316%
TOTAL AVAILABLE FUNDS 1,833,052.81
============ Realized Losses -
---------------------------------------------------
--------------------------------------------------- Adjusted Pool Amount 138,017,181.25
DELINQUENCY NUMBER PRINCIPAL Adjusted Pool Amount (PO) 101,525,717.74
INFORMATION OF LOANS BALANCE Class 1A-PO Deferred Amount -
--------------------------------------------------- Book Value of Real Estate acquired -
Delinquent 30-59 Days 4 1,329,148.00
Delinquent 60-89 Days 0 0.00
Delinquent 90+ Days 0 0.00 Pool 1 Distribution Amount 1,833,052.81
--------------------------------------------------- ------------------------------------------------------------------------
====================================================================================================================================
</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
[FIRST UNION LOGO]
FIRST UNION RESIDENTIAL SECURITIZATIONS TRANSACTIONS
SERIES 1999-A
STATEMENT TO CERTIFICATEHOLDER
RECORD DATE: 11/30/99
PRIOR PERIOD: 11/25/99
DISTRIBUTION DATE: 12/27/99
<TABLE>
<CAPTION>
====================================================================================================================================
POOL 1
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 A-1 0.00 0.00 0.00 0.00 Group 1 A Percentage 96.965434%
Class 1A-WIO 0.00 0.00 0.00 0.00 Group 1 M Percentage 1.092322%
Class 1M 0.00 0.00 0.00 0.00 Group 1 B-1 Percentage 0.607226%
Class 1B-1 0.00 0.00 0.00 0.00 Group 1 B-2 Percentage 0.424602%
Class 1B-2 0.00 0.00 0.00 0.00 Group 1 B-3 Percentage 0.424602%
Class 1B-3 0.00 0.00 0.00 0.00 Group 1 B-4 Percentage 0.243119%
Class 1B-4 0.00 0.00 0.00 0.00 Group 1 B-5 Percentage 0.242696%
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
[FIRST UNION LOGO]
FIRST UNION RESIDENTIAL SECURITIZATIONS TRANSACTIONS
SERIES 1999-A
STATEMENT TO CERTIFICATEHOLDER
RECORD DATE: 11/30/99
PRIOR PERIOD: 11/25/99
DISTRIBUTION DATE: 12/27/99
<TABLE>
<CAPTION>
====================================================================================================================================
POOL 2
--------------------------------------------------- ------------------------------------------------------------------------
SCHEDULE OF REMITTANCE COLLATERAL INFORMATION
---------------------- ----------------------
<S> <C> <C> <C>
Scheduled Principal 52,451.67
Prepayments 8,337.77 Weighted Average to Maturity 347
---------- Weighted Average Mortgage Rate 6.559513%
TOTAL PRINCIPAL DISTRIBUTION 60,789.44
Interest 291,559.65 Agg. Beginning Principal Balance of Loans 53,338,041.28
Agg. Ending Principal Balance of Loans 53,277,251.84
(Master Servicing Fee) 888.97
(Subservicing Fee) 11,112.09 Previous Scheduled Principal Payments 52,134.72
(Trust Administration Fee) 377.81 Previous Prepayments 5,995.31
(Trustee Fee) 222.24
----------
TOTAL NET INTEREST DISTRIBUTION 278,958.54 Prior Weighted Average to Maturity 348
Prior Weighted Average Loan Rate 6.559494%
TOTAL AVAILABLE FUNDS 339,747.98
========== Realized Losses -
---------------------------------------------------
---------------------------------------------------
DELINQUENCY NUMBER PRINCIPAL Adjusted Pool Amount 53,277,251.84
INFORMATION OF LOANS BALANCE
---------------------------------------------------
Delinquent 30-59 Days 0 0.00
Delinquent 60-89 Days 0 0.00
Delinquent 90+ Days 0 0.00 Book Value of Real Estate acquired -
Pool 2 Distribution Amount 339,747.98
--------------------------------------------------- ------------------------------------------------------------------------
====================================================================================================================================
</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
[FIRST UNION LOGO]
FIRST UNION RESIDENTIAL SECURITIZATIONS TRANSACTIONS
SERIES 1999-A
STATEMENT TO CERTIFICATEHOLDER
RECORD DATE: 11/30/99
PRIOR PERIOD: 11/25/99
DISTRIBUTION DATE: 12/27/99
<TABLE>
<CAPTION>
====================================================================================================================================
POOL 2
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 97.369824%
Group 2 M Percentage 0.946758%
Group 2 B-1 Percentage 0.526306%
Group 2 B-2 Percentage 0.368019%
Group 2 B-3 Percentage 0.368019%
Group 2 B-4 Percentage 0.210720%
Group 2 B-5 Percentage 0.210354%
====================================================================================================================================
</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
