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: October 6, 1999
(Date of earliest event reported)
Commission File No. 333-62547
Asset Backed Funding Corporation
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Delaware 75-2533468
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(State of Incorporation) (I.R.S. Employer Identification No.)
100 North Tryon Street
Charlotte, North Carolina 28255
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Address of principal executive offices (Zip Code)
(704) 386-2400
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Registrant's Telephone Number, including area code
NationsBanc Asset Securities, Inc.
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(Former name, former address and former fiscal year, if changed since last
report)
ITEM 5. Other Events
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Documents incorporated by Reference
The Annual Report on Form 10-K, as amended, of Financial Security Assurance
Holdings, Inc. for the year ended December 31, 1998 and the Quarterly Report on
Form 10-Q of Financial Security Assurance Holdings, Inc. for the period ended
June 30, 1999 are hereby incorporated by reference in (i) this Current Report on
Form 8-K; (ii) the registration statement (No. 333-62547) of the Registrant; and
(iii) the Prospectus Supplement and Prospectus each dated October 7, 1999,
relating to United PanAm Mortgage Loan Asset Backed Certificates, Series 1999-2,
and shall be deemed to be part hereof and thereof.
ITEM 7. Financial Statements and Exhibits
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Item 601(a)
of Regulation S-K
Exhibit No. Description
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(EX-23) Consent of PricewaterhouseCoopers
LLP, independent accountants for
Financial Security Assurance Inc.
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.
ASSET BACKED FUNDING CORPORATION
October 7, 1999
By: _/s/ Bob Perret
Name: Bob Perret
Title: Senior Vice President
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INDEX TO EXHIBITS
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Paper (P) or
Exhibit No. Description Electronic (E)
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(EX-23) Consent of PricewaterhouseCoopers LLP, E
independent accountants for Financial
Security Assurance Inc.
EX-23
CONSENT OF INDEPENDENT ACCOUNTANTS
The Board of Directors
Financial Security Assurance Inc.:
We consent to the incorporation by reference in the Prospectus Supplement of
United PamAm Mortgage, a Division of Pan American Bank, FSB relating to United
PanAm Mortgage Loan Asset Backed Certificates, Series 1999-2 of our report dated
January 26, 1999 on our audits of the consolidated financial statements of
Financial Security Assurance Inc. and Subsidiaries as of December 31, 1998 and
1997, and for each of the three years in the period ended December 31, 1998. We
also consent to the reference to our Firm under the caption "Experts".
/s/ PricewaterhouseCoopers LLP
PricewaterhouseCoopers LLP
October 6, 1999
