SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 10-K/A
[X] Annual report pursuant to Section 13 or 15(d) of the Securities
Exchange Act of 1934 for the period from December 30, 1998
(Commencement of Operations) to December 31, 1998
[ ] Transition report pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934 for the transition period from to
Commission File Number 333-39649-14
LEHMAN ABS CORPORATION
(Exact name of registrant as specified in its charter)
Delaware 13-3447441
(State or other jurisdiction of I.R.S. Employer
incorporation or organization) Identification No.)
Three World Financial Center
200 Vesey Street
New York, New York 10022
(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code : (212) 526-7000
LEHMAN ABS CORPORATION
PROVIDENT BANK HOME EQUITY LOAN TRUST 1998-A
HOME EQUITY LOAN ASSET BACKED NOTES, SERIES 1998-A
(Title of each class of securities covered by this Form)
Securities registered pursuant to Section 12(b) of the Act: None
Securities registered pursuant to Section 12(g) of the Act: None
Indicate by check mark whether the registrant (1) has filed all reports required
to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during
the preceding 12 months (or for such shorter period that the registrant was
required to file such reports), and (2) has been subject to such filing
requirements for the past 90 days. Yes [X] No [ ]
Indicate by check mark if disclosure of delinquent filers pursuant to Item
405 of Regulation S-K is not contained herein, and will not be contained,
to the best of registrant's knowledge, in definitive proxy or information
statements incorporated by reference in Part III of this Form 10-K/A or any
amendment to this Form 10-K/A. [X]
Documents incorporated by reference: None
Page 1 of 5
This report consists 9 of consecutively numbered pages.
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Amendment Number 1 of 1
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LEHMAN ABS CORPORATION
PROVIDENT BANK HOME EQUITY LOAN TRUST 1998-A
HOME EQUITY LOAN ASSET BACKED NOTES, SERIES 1998-A
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PART IV
Item 14. Exhibits, Financial Statement Schedules and Reports on Form 8-K
(a) The following documents are filed as part of this report:
(1) Financial Statements:
Omitted.
(2) Financial Statement Schedules:
Omitted.
(3) Exhibits:
Annual Servicer Statement of Compliance, filed as Exhibit 99.1 hereto.
Annual Statement of Independent Accountants Report for the Servicer,
filed as Exhibit 99.2 hereto.
(b) Reports on Form 8-K: There were no Current Reports on Form 8-K filed by
the Registrant during the last quarter of 1998. The first distribution was on
January 25, 1999. The item reported in such Current Report was Item 5 (Other
Events).
(c) Exhibits to this report are listed in Item (14)(a)(3) above.
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SIGNATURE
Pursuant to the requirements of Section 13 or 15(d) of the Securities Exchange
Act of 1934, the registrant has duly caused this report to be signed on its
behalf by the undersigned thereunto duly authorized.
THE CHASE MANHATTAN BANK,
not in its individual capacity but solely
as Indenture Trustee under the Agreement
referred to herein
Date: November 5, 1999 By: /s/Jennifer Cupo
-----------------------------
Jennifer Cupo
Vice President
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EXHIBIT INDEX
Exhibit Description Page
99.1 Servicer's Annual Statement of Compliance 6
99.2 Servicer's Annual Independent Accountant's Report 8
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EXHIBIT 99.1 - Servicer's Annual Statement of Compliance
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Provident Bank
One East Fourth Street
Cincinnati, Ohio 45202
Phone: 513-579-2000
Report of Management
We, as members of management of The Provident Bank (Provident) are
responsible for complying with the minimum servicing standards as set forth in
the Mortgage Bankers Association of America's Uniform Single Attestation Program
for Mortgage Bankers (USAP). We are also responsible for establishing and
maintaining effective internal control over compliance with these standards. We
have performed an evaluation of Provident's compliance with the minimum
servicing standards as set forth in the USAP as of December 31, 1998 and for the
year then ended. Based on this evaluation, we assert that during the year ended
December 31, 1998, Provident complied, in all material respects, with the
minimum servicing standards set forth in the USAP, related to mortgage loans
serviced pursuant to two Pooling and Servicing agreements dated September 1,
1997.
As of and for this same period, Provident had in effect a fidelity bond and
errors and omissions policy in the amount of $27,500,000.
April 30, 1999
By: /s/ Gerald Sparkman By: /s/ Robert Molter
Gerald Sparkman Robert Molter
Senior Vice President Senior Vice President
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EXHIBIT 99.2 - Servicer's Annual Independent Accountant's Report
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Ernst & Young, LLP Phone: 513-621-6454
1300 Chiquita Center
250 East Fifth Street
Cincinnati, Ohio 45202
Independent Auditors' Report
Board of Directors
Provident Financial Group, Inc.
We have examined management's assertion that Provident Financial Group,
Inc. (Provident) complied with the minimum servicing standards set forth in the
Mortgage Bankers Association of America's Uniform Single Attestation Program for
Mortgage Bankers during the year ended December 31, 1998, included in the
accompanying report titled Report of Management. This assertion relates to
mortgage loans serviced by Provident in accordance with two Pooling and
Servicing agreements dated September 1, 1997 and one Pooling and Servicing
agreement dated December 1, 1998. Management is responsible for Provident's
compliance with those requirements. Our responsibility is to express an opinion
on management's assertion about Provident's compliance based on our examination.
Our examination was conducted in accordance with standards established by
the American Institute of Certified Public Accountants and, accordingly,
included examining, on a test basis, evidence about Provident's compliance with
those requirements and performing such other procedures as we considered
necessary in the circumstances. We believe that our examination provides a
reasonable basis for our opinion. Our examination does not provide a legal
determination on Provident's compliance with specified requirements.
In our opinion, management's assertion that Provident complied with the
aforementioned requirements during the year ended December 31, 1998 is fairly
stated, in all material respects.
Very truly yours,
Ernst & Young LLP
May 27, 1999
Ernst & Young LLP is a member of Ernst & Young International, Ltd.
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