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
NATIONSBANC MONTGOMERY FUNDING CORPORATION
Mortgage Pass-Through Certificates, Series 1998-3 Trust
New York (governing law of 333-62304 PENDING
Pooling and Servicing Agreement) (Commission IRS EIN
(State or other File Number)
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 NATIONSBANC
MONTGOMERY FUNDING CORPORATION, Mortgage Pass-Through Certificates, Series
1998-3 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
1998-3 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.
NATIONSBANC MONTGOMERY FUNDING CORPORATION
Mortgage Pass-Through Certificates, Series 1998-3 Trust
By: Norwest Bank Minnesota, N.A., as Trustee
By: /s/ Sherri J. Sharps, Vice President
By: Sherri J. Sharps, Vice President
Date: 01/07/1999
INDEX TO EXHIBITS
Exhibit Number Description
EX-99.1 Monthly report distributed to holders of Mortgage Pass-Through
Certificates, Series 1998-3 Trust, relating to the December 28,
1998 distribution.
<TABLE>
<CAPTION>
Nationsbanc Montgomery Funding Corp.
Mortgage Pass-Through Certificates
Record Date: 11/30/1998
Distribution Date: 12/28/1998
NMFC Series: 1998-3
Contact: Customer Service - Columbia, MD
Norwest Bank Minnesota, N.A.
Securities Administration Services
11000 Broken Land Parkway
Columbia, MD 21044
Telephone: (301) 815-6600
Fax: (410) 884-2369
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>
R 63857RCM2 RES 6.50000% 0.00 0.00 0.00
A-1 63857RBT8 SEN_FI 6.50000% 131,112,805.41 710,194.34 671,865.53
A-2 63857RBU5 SEN_FI 6.50000% 101,920,029.92 552,066.81 514,936.03
A-3 63857RBV3 SEN_FI 6.50000% 2,485,685.41 13,464.13 10,840.33
A-4 63857RBW1 SEN_FI 6.50000% 50,751,409.29 274,903.46 188,255.81
A-5 63857RBX9 SEN_FI 6.50000% 19,061,000.00 103,247.08 0.00
A-6 63857RBY7 SEN_FI 6.50000% 10,470,000.00 56,712.50 0.00
A-7 63857RBZ4 SEN_FI 6.50000% 11,079,000.00 60,011.25 0.00
A-8 63857RCA8 SEN_FI 6.50000% 2,000,000.00 10,833.33 0.00
A-9 63857RCB6 SEN_FI 6.50000% 3,000,000.00 16,250.00 0.00
A-10 63857RCC4 SEN_FI 6.50000% 39,470,000.00 213,795.83 0.00
A-11 63857RCD2 SEN_FI 7.00000% 400,000.00 2,333.33 0.00
A-12 63857RCE0 SEN_FI 6.50000% 1,660,422.00 8,993.95 0.00
A-13 63857RCF7 SEN_FI 6.00000% 1,000,000.00 5,000.00 0.00
A-14 63857RCG5 SEN_FI 7.00000% 1,000,000.00 5,833.33 0.00
A-PO 63857RCH3 SEN_PO 0.00000% 690,652.37 0.00 740.34
B-1 63857RCJ9 JUN_FI 6.50000% 8,479,005.87 45,927.95 7,225.71
B-2 63857RCK6 JUN_FI 6.50000% 3,352,165.81 18,157.56 2,856.68
B-3 63857RCL4 JUN_FI 6.50000% 1,774,676.25 9,612.83 1,512.36
B-4 63857RCN0 JUN_FI 6.50000% 1,380,303.86 7,476.65 1,176.28
B-5 63857RCP5 JUN_FI 6.50000% 788,744.78 4,272.37 672.16
B-6 63857RCQ3 JUN_FI 6.50000% 985,931.69 5,340.46 840.20
Totals 392,861,832.66 2,124,427.16 1,400,921.43
</TABLE>
<TABLE>
<CAPTION>
Certificateholder Distribution Summary (continued)
Current Ending Cumulative
Realized Certificate Total Realized
Class Loss Balance Distribution Losses
<S> <C> <C> <C> <C>
R 0.00 0.00 0.00 0.00
A-1 0.00 130,440,939.88 1,382,059.87 0.00
A-2 0.00 101,405,093.89 1,067,002.84 0.00
A-3 0.00 2,474,845.08 24,304.46 0.00
A-4 0.00 50,563,153.48 463,159.27 0.00
A-5 0.00 19,061,000.00 103,247.08 0.00
A-6 0.00 10,470,000.00 56,712.50 0.00
A-7 0.00 11,079,000.00 60,011.25 0.00
A-8 0.00 2,000,000.00 10,833.33 0.00
A-9 0.00 3,000,000.00 16,250.00 0.00
A-10 0.00 39,470,000.00 213,795.83 0.00
A-11 0.00 400,000.00 2,333.33 0.00
A-12 0.00 1,660,422.00 8,993.95 0.00
A-13 0.00 1,000,000.00 5,000.00 0.00
A-14 0.00 1,000,000.00 5,833.33 0.00
A-PO 0.00 689,912.03 740.34 0.00
B-1 0.00 8,471,780.16 53,153.66 0.00
B-2 0.00 3,349,309.13 21,014.24 0.00
B-3 0.00 1,773,163.89 11,125.19 0.00
B-4 0.00 1,379,127.58 8,652.93 0.00
B-5 0.00 788,072.62 4,944.53 0.00
B-6 0.00 985,091.49 6,180.66 0.00
Totals 0.00 391,460,911.23 3,525,348.59 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>
R 100.00 0.00 0.00 0.00 0.00 0.00
A-1 132,000,000.00 131,112,805.41 155,093.34 516,772.19 0.00 0.00
A-2 102,600,000.00 101,920,029.92 118,867.76 396,068.27 0.00 0.00
A-3 2,500,000.00 2,485,685.41 2,502.38 8,337.95 0.00 0.00
A-4 51,000,000.00 50,751,409.29 43,456.94 144,798.86 0.00 0.00
A-5 19,061,000.00 19,061,000.00 0.00 0.00 0.00 0.00
A-6 10,470,000.00 10,470,000.00 0.00 0.00 0.00 0.00
A-7 11,079,000.00 11,079,000.00 0.00 0.00 0.00 0.00
A-8 2,000,000.00 2,000,000.00 0.00 0.00 0.00 0.00
A-9 3,000,000.00 3,000,000.00 0.00 0.00 0.00 0.00
A-10 39,470,000.00 39,470,000.00 0.00 0.00 0.00 0.00
A-11 400,000.00 400,000.00 0.00 0.00 0.00 0.00
A-12 1,660,422.00 1,660,422.00 0.00 0.00 0.00 0.00
A-13 1,000,000.00 1,000,000.00 0.00 0.00 0.00 0.00
A-14 1,000,000.00 1,000,000.00 0.00 0.00 0.00 0.00
A-PO 691,385.00 690,652.37 636.67 103.67 0.00 0.00
B-1 8,486,200.00 8,479,005.87 7,225.71 0.00 0.00 0.00
B-2 3,355,010.00 3,352,165.81 2,856.68 0.00 0.00 0.00
B-3 1,776,182.00 1,774,676.25 1,512.36 0.00 0.00 0.00
B-4 1,381,475.00 1,380,303.86 1,176.28 0.00 0.00 0.00
B-5 789,414.00 788,744.78 672.16 0.00 0.00 0.00
B-6 986,768.22 985,931.69 840.20 0.00 0.00 0.00
Totals 394,706,956.22 392,861,832.66 334,840.48 1,066,080.94 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>
R 0.00 0.00 0.00000000 0.00
A-1 671,865.53 130,440,939.88 0.98818894 671,865.53
A-2 514,936.03 101,405,093.89 0.98835374 514,936.03
A-3 10,840.33 2,474,845.08 0.98993803 10,840.33
A-4 188,255.81 50,563,153.48 0.99143438 188,255.81
A-5 0.00 19,061,000.00 1.00000000 0.00
A-6 0.00 10,470,000.00 1.00000000 0.00
A-7 0.00 11,079,000.00 1.00000000 0.00
A-8 0.00 2,000,000.00 1.00000000 0.00
A-9 0.00 3,000,000.00 1.00000000 0.00
A-10 0.00 39,470,000.00 1.00000000 0.00
A-11 0.00 400,000.00 1.00000000 0.00
A-12 0.00 1,660,422.00 1.00000000 0.00
A-13 0.00 1,000,000.00 1.00000000 0.00
A-14 0.00 1,000,000.00 1.00000000 0.00
A-PO 740.34 689,912.03 0.99786954 740.34
B-1 7,225.71 8,471,780.16 0.99830079 7,225.71
B-2 2,856.68 3,349,309.13 0.99830079 2,856.68
B-3 1,512.36 1,773,163.89 0.99830079 1,512.36
B-4 1,176.28 1,379,127.58 0.99830079 1,176.28
B-5 672.16 788,072.62 0.99830079 672.16
B-6 840.20 985,091.49 0.99830079 840.20
Totals 1,400,921.43 391,460,911.23 0.99177606 1,400,921.43
</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>
R 100.00 0.00000000 0.00000000 0.00000000 0.00000000
A-1 132,000,000.00 993.27882886 1.17494955 3.91494083 0.00000000
A-2 102,600,000.00 993.37261131 1.15855517 3.86031452 0.00000000
A-3 2,500,000.00 994.27416400 1.00095200 3.33518000 0.00000000
A-4 51,000,000.00 995.12567235 0.85209686 2.83919333 0.00000000
A-5 19,061,000.00 1000.00000000 0.00000000 0.00000000 0.00000000
A-6 10,470,000.00 1000.00000000 0.00000000 0.00000000 0.00000000
A-7 11,079,000.00 1000.00000000 0.00000000 0.00000000 0.00000000
A-8 2,000,000.00 1000.00000000 0.00000000 0.00000000 0.00000000
A-9 3,000,000.00 1000.00000000 0.00000000 0.00000000 0.00000000
A-10 39,470,000.00 1000.00000000 0.00000000 0.00000000 0.00000000
A-11 400,000.00 1000.00000000 0.00000000 0.00000000 0.00000000
A-12 1,660,422.00 1000.00000000 0.00000000 0.00000000 0.00000000
A-13 1,000,000.00 1000.00000000 0.00000000 0.00000000 0.00000000
A-14 1,000,000.00 1000.00000000 0.00000000 0.00000000 0.00000000
A-PO 691,385.00 998.94034438 0.92086175 0.14994540 0.00000000
B-1 8,486,200.00 999.15225543 0.85146591 0.00000000 0.00000000
B-2 3,355,010.00 999.15225588 0.85146691 0.00000000 0.00000000
B-3 1,776,182.00 999.15225467 0.85146680 0.00000000 0.00000000
B-4 1,381,475.00 999.15225393 0.85146673 0.00000000 0.00000000
B-5 789,414.00 999.15225724 0.85146704 0.00000000 0.00000000
B-6 986,768.22 999.15225280 0.85146642 0.00000000 0.00000000
<FN>
(2) All classes are 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>
R 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000
A-1 0.00000000 5.08989038 988.18893848 0.98818894 5.08989038
A-2 0.00000000 5.01886969 988.35374162 0.98835374 5.01886969
A-3 0.00000000 4.33613200 989.93803200 0.98993803 4.33613200
A-4 0.00000000 3.69129039 991.43438196 0.99143438 3.69129039
A-5 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000
A-6 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000
A-7 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000
A-8 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000
A-9 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000
A-10 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000
A-11 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000
A-12 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000
A-13 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000
A-14 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000
A-PO 0.00000000 1.07080715 997.86953723 0.99786954 1.07080715
B-1 0.00000000 0.85146591 998.30078952 0.99830079 0.85146591
B-2 0.00000000 0.85146691 998.30078897 0.99830079 0.85146691
B-3 0.00000000 0.85146680 998.30078787 0.99830079 0.85146680
B-4 0.00000000 0.85146673 998.30078720 0.99830079 0.85146673
B-5 0.00000000 0.85146704 998.30079021 0.99830079 0.85146704
B-6 0.00000000 0.85146642 998.30078638 0.99830079 0.85146642
<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>
R 100.00 6.50000% 0.00 0.00 0.00 0.00
A-1 132,000,000.00 6.50000% 131,112,805.41 710,194.36 0.00 0.00
A-2 102,600,000.00 6.50000% 101,920,029.92 552,066.83 0.00 0.00
A-3 2,500,000.00 6.50000% 2,485,685.41 13,464.13 0.00 0.00
A-4 51,000,000.00 6.50000% 50,751,409.29 274,903.47 0.00 0.00
A-5 19,061,000.00 6.50000% 19,061,000.00 103,247.08 0.00 0.00
A-6 10,470,000.00 6.50000% 10,470,000.00 56,712.50 0.00 0.00
A-7 11,079,000.00 6.50000% 11,079,000.00 60,011.25 0.00 0.00
A-8 2,000,000.00 6.50000% 2,000,000.00 10,833.33 0.00 0.00
A-9 3,000,000.00 6.50000% 3,000,000.00 16,250.00 0.00 0.00
A-10 39,470,000.00 6.50000% 39,470,000.00 213,795.83 0.00 0.00
A-11 400,000.00 7.00000% 400,000.00 2,333.33 0.00 0.00
A-12 1,660,422.00 6.50000% 1,660,422.00 8,993.95 0.00 0.00
A-13 1,000,000.00 6.00000% 1,000,000.00 5,000.00 0.00 0.00
A-14 1,000,000.00 7.00000% 1,000,000.00 5,833.33 0.00 0.00
A-PO 691,385.00 0.00000% 690,652.37 0.00 0.00 0.00
B-1 8,486,200.00 6.50000% 8,479,005.87 45,927.95 0.00 0.00
B-2 3,355,010.00 6.50000% 3,352,165.81 18,157.56 0.00 0.00
B-3 1,776,182.00 6.50000% 1,774,676.25 9,612.83 0.00 0.00
B-4 1,381,475.00 6.50000% 1,380,303.86 7,476.65 0.00 0.00
B-5 789,414.00 6.50000% 788,744.78 4,272.37 0.00 0.00
B-6 986,768.22 6.50000% 985,931.69 5,340.46 0.00 0.00
Totals 394,706,956.22 2,124,427.21 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>
R 0.00 0.00 0.00 0.00 0.00
A-1 0.00 0.00 710,194.34 0.00 130,440,939.88
A-2 0.00 0.00 552,066.81 0.00 101,405,093.89
A-3 0.00 0.00 13,464.13 0.00 2,474,845.08
A-4 0.00 0.00 274,903.46 0.00 50,563,153.48
A-5 0.00 0.00 103,247.08 0.00 19,061,000.00
A-6 0.00 0.00 56,712.50 0.00 10,470,000.00
A-7 0.00 0.00 60,011.25 0.00 11,079,000.00
A-8 0.00 0.00 10,833.33 0.00 2,000,000.00
A-9 0.00 0.00 16,250.00 0.00 3,000,000.00
A-10 0.00 0.00 213,795.83 0.00 39,470,000.00
A-11 0.00 0.00 2,333.33 0.00 400,000.00
A-12 0.00 0.00 8,993.95 0.00 1,660,422.00
A-13 0.00 0.00 5,000.00 0.00 1,000,000.00
A-14 0.00 0.00 5,833.33 0.00 1,000,000.00
A-PO 0.00 0.00 0.00 0.00 689,912.03
B-1 0.00 0.00 45,927.95 0.00 8,471,780.16
B-2 0.00 0.00 18,157.56 0.00 3,349,309.13
B-3 0.00 0.00 9,612.83 0.00 1,773,163.89
B-4 0.00 0.00 7,476.65 0.00 1,379,127.58
B-5 0.00 0.00 4,272.37 0.00 788,072.62
B-6 0.00 0.00 5,340.46 0.00 985,091.49
Totals 0.00 0.00 2,124,427.16 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>
R 100.00 6.50000% 0.00000000 0.00000000 0.00000000 0.00000000
A-1 132,000,000.00 6.50000% 993.27882886 5.38026030 0.00000000 0.00000000
A-2 102,600,000.00 6.50000% 993.37261131 5.38076832 0.00000000 0.00000000
A-3 2,500,000.00 6.50000% 994.27416400 5.38565200 0.00000000 0.00000000
A-4 51,000,000.00 6.50000% 995.12567235 5.39026412 0.00000000 0.00000000
A-5 19,061,000.00 6.50000% 1000.00000000 5.41666649 0.00000000 0.00000000
A-6 10,470,000.00 6.50000% 1000.00000000 5.41666667 0.00000000 0.00000000
A-7 11,079,000.00 6.50000% 1000.00000000 5.41666667 0.00000000 0.00000000
A-8 2,000,000.00 6.50000% 1000.00000000 5.41666500 0.00000000 0.00000000
A-9 3,000,000.00 6.50000% 1000.00000000 5.41666667 0.00000000 0.00000000
A-10 39,470,000.00 6.50000% 1000.00000000 5.41666658 0.00000000 0.00000000
A-11 400,000.00 7.00000% 1000.00000000 5.83332500 0.00000000 0.00000000
A-12 1,660,422.00 6.50000% 1000.00000000 5.41666516 0.00000000 0.00000000
A-13 1,000,000.00 6.00000% 1000.00000000 5.00000000 0.00000000 0.00000000
A-14 1,000,000.00 7.00000% 1000.00000000 5.83333000 0.00000000 0.00000000
A-PO 691,385.00 0.00000% 998.94034438 0.00000000 0.00000000 0.00000000
B-1 8,486,200.00 6.50000% 999.15225543 5.41207490 0.00000000 0.00000000
B-2 3,355,010.00 6.50000% 999.15225588 5.41207329 0.00000000 0.00000000
B-3 1,776,182.00 6.50000% 999.15225467 5.41207489 0.00000000 0.00000000
B-4 1,381,475.00 6.50000% 999.15225393 5.41207767 0.00000000 0.00000000
B-5 789,414.00 6.50000% 999.15225724 5.41207782 0.00000000 0.00000000
B-6 986,768.22 6.50000% 999.15225280 5.41207134 0.00000000 0.00000000
<FN>
(5) All classes are 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>
R 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000
A-1 0.00000000 0.00000000 5.38026015 0.00000000 988.18893848
A-2 0.00000000 0.00000000 5.38076813 0.00000000 988.35374162
A-3 0.00000000 0.00000000 5.38565200 0.00000000 989.93803200
A-4 0.00000000 0.00000000 5.39026392 0.00000000 991.43438196
A-5 0.00000000 0.00000000 5.41666649 0.00000000 1000.00000000
A-6 0.00000000 0.00000000 5.41666667 0.00000000 1000.00000000
A-7 0.00000000 0.00000000 5.41666667 0.00000000 1000.00000000
A-8 0.00000000 0.00000000 5.41666500 0.00000000 1000.00000000
A-9 0.00000000 0.00000000 5.41666667 0.00000000 1000.00000000
A-10 0.00000000 0.00000000 5.41666658 0.00000000 1000.00000000
A-11 0.00000000 0.00000000 5.83332500 0.00000000 1000.00000000
A-12 0.00000000 0.00000000 5.41666516 0.00000000 1000.00000000
A-13 0.00000000 0.00000000 5.00000000 0.00000000 1000.00000000
A-14 0.00000000 0.00000000 5.83333000 0.00000000 1000.00000000
A-PO 0.00000000 0.00000000 0.00000000 0.00000000 997.86953723
B-1 0.00000000 0.00000000 5.41207490 0.00000000 998.30078952
B-2 0.00000000 0.00000000 5.41207329 0.00000000 998.30078897
B-3 0.00000000 0.00000000 5.41207489 0.00000000 998.30078787
B-4 0.00000000 0.00000000 5.41207767 0.00000000 998.30078720
B-5 0.00000000 0.00000000 5.41207782 0.00000000 998.30079021
B-6 0.00000000 0.00000000 5.41207134 0.00000000 998.30078638
<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 3,699,370.63
Liquidations, Insurance Proceeds, Reserve Funds 166.67
Proceeds from Repurchased Loans 0.00
Other Amounts (Servicer Advances) 22,919.32
Realized Losses 0.00
Total Deposits 3,722,456.62
Withdrawals
Reimbursement for Servicer Advances 0.00
Payment of Service Fee 197,108.03
Payment of Interest and Principal 3,525,348.59
Total Withdrawals (Pool Distribution Amount) 3,722,456.62
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 194,243.43
Trustee Fee 2,864.60
Master Servicing Fee 0.00
Supported Prepayment/Curtailment Interest Shortfall 0.00
Net Servicing Fee 197,108.03
</TABLE>
<TABLE>
<CAPTION>
OTHER ACCOUNTS
Beginning Current Current Ending
Account Type Balance Withdrawals Deposits Balance
<S> <C> <C> <C> <C>
Interest Reserve Fund A-11 1,833.33 166.67 0.00 1,666.66
Reserve Fund A-11 999.99 0.00 0.00 999.99
Reserve Fund A-12 999.99 0.00 0.00 999.99
Reserve Fund A-13 999.99 0.00 0.00 999.99
Reserve Fund A-14 999.99 0.00 0.00 999.99
Reserve Fund A-6 999.99 0.00 0.00 999.99
Reserve Fund A-7 999.99 0.00 0.00 999.99
Reserve Fund A-8 999.99 0.00 0.00 999.99
Reserve Fund A-9 999.99 0.00 0.00 999.99
</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 11 3,688,403.79 0.928270% 0.942215%
60 Days 0 0.00 0.000000% 0.000000%
90+ Days 0 0.00 0.000000% 0.000000%
Foreclosure 0 0.00 0.000000% 0.000000%
REO 0 0.00 0.000000% 0.000000%
Totals 11 3,688,403.79 0.928270% 0.942215%
</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 22,919.32
</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 A 16,775,049.22 4.25000091% 16,746,544.87 4.27796094% 95.722039% 100.000000%
Class B-1 8,288,849.22 2.10000080% 8,274,764.71 2.11381634% 2.164145% 0.000000%
Class B-2 4,933,839.22 1.25000057% 4,925,455.58 1.25822411% 0.855592% 0.000000%
Class B-3 3,157,657.22 0.80000040% 3,152,291.69 0.80526346% 0.452961% 0.000000%
Class B-4 1,776,182.22 0.45000023% 1,773,164.11 0.45296071% 0.352303% 0.000000%
Class B-5 986,768.22 0.25000021% 985,091.49 0.25164492% 0.201316% 0.000000%
Class B-6 0.00 0.00000000% 0.00 0.00000000% 0.251645% 0.000000%
<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 133,635.00 0.03385676% 133,635.00 0.03413751%
Fraud 3,947,070.00 1.00000011% 3,947,070.00 1.00829224%
Special Hazard 3,947,070.00 1.00000011% 3,947,070.00 1.00829224%
<FN>
Limit of Subordinate's Exposure to Certain Types of Losses
</FN>
</TABLE>
<TABLE>
<CAPTION>
COLLATERAL STATEMENT
<S> <C>
Collateral Description Mixed Fixed
Weighted Average Gross Coupon 7.090641%
Weighted Average Net Coupon 6.497322%
Weighted Average Pass-Through Rate 6.488573%
Weighted Average Maturity(Stepdown Calculation ) 358
Begin Scheduled Collateral Loan Count 1,188
Number Of Loans Paid In Full 3
End Scheduled Collateral Loan Count 1,185
Begining Scheduled Collateral Balance 392,861,832.71
Ending Scheduled Collateral Balance 391,460,911.29
Ending Actual Collateral Balance at 30-Nov-1998 391,719,250.46
Monthly P &I Constant 2,656,209.00
Class A Optimal Amount 3,419,537.10
Ending Scheduled Balance for Premium Loans 391,460,911.29
</TABLE>
<TABLE>
<CAPTION>
<S> <C>
Senior Percentage 95.72614483%
Subordinate Percentage 4.27385517%
Class A-10 Percentage .10513828%
Senior Prepayment Percentage 100%
Subordinate Prepayment Percentage 0%
</TABLE>
