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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): NOVEMBER 13, 1998
NAB ASSET CORPORATION
(EXACT NAME OF REGISTRANT AS SPECIFIED IN ITS CHARTER)
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TEXAS 0-19391 76-0332956
(STATE OF INCORPORATION) (COMMISSION FILE NUMBER) (IRS EMPLOYER IDENTIFICATION NO.)
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23361 MADERO, SUITE 200
IRVINE, CALIFORNIA 92691
(ADDRESS OF PRINCIPAL EXECUTIVE OFFICES)
949/465-0244
(REGISTRANT'S TELEPHONE NUMBER, INCLUDING AREA CODE)
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ITEM 2. ACQUISITION OR DISPOSITION OF ASSETS
On November 6, 1998 and November 13, 1998 the Company sold approximately
$28,000,000 of residential construction loans to two financial institutions,
First American Bank, SSB, Dallas, Texas and First Federal Savings Bank of North
Texas, Dallas, Texas.
The purchase price, paid in cash and determined by negotiation between
the parties, was the then current outstanding principal balance of the loans
plus accrued interest through the date of closing. The Company recorded no gains
or losses as a result of the transactions.
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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 its behalf by the
undersigned thereunto duly authorized.
NAB ASSET CORPORATION
Dated: November 25, 1998 By: /s/ ALAN FERREE
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Alan Ferree,
Chief Financial Officer
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