SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the
Securities and Exchange Act of 1934
Date of Report: December 11, 1998
(Date of earliest event reported)
CAPCO America Securitization Corporation (Series 1998 - D7)
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(Exact name of registrant as specified in its charter)
Delaware 333-22133-01 13-3672336
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(State or Other (Commission (I.R.S. Employer
Jurisdiction of File Number) Identification No.)
Incorporation)
Two World Financial Center, Building B, New York, New York 10281
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Address of Principal Executive Office
Registrant's telephone number, including area code: (212) 667-9300
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ITEM 5: OTHER EVENTS
On November 20, 1998, Boyd Fellows and Brian Pilcher, CCA's former Co-Chief
Executive Officers resigned. CCA appointed Michael L. Hurdelbrink as its new
Chief Executive Officer. Hurdelbrink was also appointed President and Chief
Executive Officer of the Depositor. On December 11, 1998, NHA announced that CCA
will not undertake any new loan commitments.
Collateral Information
The Mortgage Loan known as 2100 Swift Road, which has a current balance
(after the December 11, 1998 payment) of $4,727,415.98, will appear on the
December 1998 Servicer Watch List. The Mortgaged Property is occupied by a
single tenant which has experienced serious erosion in its financial condition.
In addition, the tenant has entered into various contracts with vendors and
experienced the placement of $743,022 in mechanics liens on the Mortgaged
Property in the past 30 days. However, the loan is current and the tenant
continues to make lease payments.
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Pursuant to the requirements of the Securities Act of 1934, the Registrant
has duly caused this report to be signed on behalf of the Registrant by the
undersigned thereunto duly authorized.
CAPCO AMERICA SECURITIZATION CORPORATION
By: /s/ Michael Hurdelbrink
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Name: Michael Hurdelbrink
Title: President & CEO
Date: December 14, 1998
