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Previous: NATIONSBANK NA, 8-K, 1996-08-28 |
Next: LEHMAN HOME EQUITY LOAN TRUST 1994-1, 8-K, 1996-08-28 |
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, DC 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): August 15, 1996
NATIONSBANK, N.A.
-----------------
(Exact name of registrant as specified in its charter)
(As Servicer on Behalf of NationsBank Auto Grantor Trust 1995-A)
United States
of America 33-97436 57-0236115
------------- -------- ----------
(State or other (Commission File (IRS employer
Jurisdiction of Number) Identification No.)
Incorporation)
NationsBank, N.A.
NationsBank Corporate Center
100 North Tryon Street
Charlotte, North Carolina 28255
(704) 386-5000
(Address of principal executive offices)
Registrant's telephone number including area code: (704) 386-5000
<PAGE>
Item 5. Other Events
The Registrant hereby incorporates by reference the information
contained in Exhibit 28 hereto in response to this Item 5.
Item 7. Financial Statements, Pro Forma Financial Statements and Exhibits
(c) Exhibits
99 Monthly Servicers Certificate for NationsBank, N.A.
Class A & B, NationsBank Auto Trust 1995-A
<PAGE>
SIGNATURES
Pursuant to the requirements of the Securities and Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
NATIONSBANK, N.A.
(Registrant)
(As Servicer on Behalf of NationsBank Auto Grantor Trust 1995-A)
Dated: August 16, 1996 By: /s/Leslie J. Fitzpatrick
-------------------------
Name: Leslie J. Fitzpatrick
Title: Senior Vice President
(Duly Authorized Officer)
<PAGE>
INDEX TO EXHIBITS
Sequentially
Exhibit Numbered
Number Exhibit Pages
- ------- ------- ------------
99 Monthly Servicers Certificate for NationsBank, N.A. 1-3
Class A & B, NationsBank Auto Trust 1995-A
<PAGE>
<TABLE>
Exhibit #99
MONTHLY SERVICERS CERTIFICATE
SERVICER: NATIONSBANK, N.A.
NATIONSBANK AUTO TRUST 1995-A
Pursuant to the Pooling and Servicing Agreement, dated as of December 6,1995
(as amended and supplemented, the "Pooling and Servicing Agreement") between
NationsBank, N.A., NationsBank of Georgia,N.A.
NationsBank of Florida, N.A., and NationsBank of Texas, N.A. (as "Sellers");
NationsBank N.A. (as "Servicer"); and Chemical Bank (as "Trustee"), the Servicer
is required to prepare certain information each month regarding distributions to
Certificateholders' and the performance of the Trust. The information with
respect to the applicable Distribution Date and Due Period is set forth below.
Collection Period Jul-96
Determination Date 8/8/96
Deposit Date 8/14/96
Distribution Date 8/15/96
<CAPTION>
Pool Balance on the close of the last day of the
<S> <C>
preceding Collection Period 763,343,444.97
Less: Principal Collections 37,485,008.54
Purchase Amount allocable to Principal 0.00
Realized Losses 711,611.22
-------------------
Pool Balance on the close of the last day of the
Collection Period 725,146,825.21
===================
Original Pool Balance 1,066,816,806.33
Pool Factor 67.97295%
Class A Certificate Balance
Beginning Class A Certificate Balance 740,443,141.62
Class A Principal Distribution to Class A
Distribution Account 37,050,721.17
-------------------
Ending Class A Certificate Balance 703,392,420.45
Original Class A Certificate Balance 1,034,812,302.14
Class A Pool Factor 67.97295%
Class B Certificate Balance
Beginning Class B Certificate Balance 22,900,303.35
Class B Principal Distribution to Class B
Distribution Account 1,145,898.59
-------------------
Ending Class B Certificate Balance 21,754,404.76
Original Class B Certificate Balance 32,004,504.19
Class B Pool Factor 67.97295%
Class A Pass-Through Rate 5.8500%
Class B Pass-Through Rate 6.0000%
Class A Percentage 97.0000%
Class B Percentage 3.0000%
Available Interest
Collections and Liquidation Proceeds allocable
to interest 6,886,191.52
Recoveries 105,996.39
Purchase Amount allocable to Interest 0.00
-------------------
Total Interest Collections 6,992,187.91
Advances for the related Distribution Date 928,761.41
Less: Outstanding Advances to be reimbursed 1,158,698.02
-------------------
Total Available Interest 6,762,251.30
Available Principal
Collections and Liquidation Proceeds allocable
to Principal 37,485,008.54
Purchase Amount allocable to Principal 0.00
-------------------
Total Available Principal 37,485,008.54
Deposit to Certificate Account
Available Interest 6,762,251.30
Available Principal 37,485,008.54
Withdrawal from Reserve Account 0.00
Less: Basic Servicing Fee to be withheld from Collections 636,119.54
Net Deposit to Certificate Account 43,611,140.30
Class A Interest Distribution
Class A Monthly Interest 3,609,660.32
Class A Interest Carryover Shortfall 0.00
-------------------
Total 3,609,660.32
Class B Interest Distribution
Class B Monthly Interest 114,501.52
Class B Interest Carryover Shortfall 0.00
-------------------
Total 114,501.52
Class A Principal Distribution
Class A Monthly Principal 37,050,721.17
Class A Principal Carryover Shortfall from the
preceding Distribution Date 0.00
-------------------
Total 37,050,721.17
Class B Principal Distribution
Class B Monthly Principal 1,145,898.59
Class B Principal Carryover Shortfall from the
preceding Distribution Date 0.00
-------------------
Total 1,145,898.59
Basic Servicing Fee (inc. unpaid amount from prior periods) 636,119.54
Distributions to the extent of Available Interest
and Available Reserve Amount (and Class B
Percentage of Available Principal with respect
to Class A Interest Distribution)
Unpaid Basic Servicing Fee to Servicer 636,119.54
Class A Interest Distribution to Class A
Distribution Account 3,609,660.32
Class B Interest Distribution to Class B
Distribution Account 114,501.52
Distributions of Available Principal, Remaining Available
Interest and Remaining Available Reserve Amount
Class A Principal Distribution to Class A
Distribution Account 37,050,721.17
Class B Principal Distribution to Class B
Distribution Account 1,145,898.59
To Reserve Account up to Specified Reserve
Account Balance 0.00
Any Remaining Amounts to Sellers 1,690,358.71
Specified Reserve Account Balance
Greater of:
(a) Reserve percentage applicable 4.00%
Pool Balance on last day of Collection Period times
reserve percentage applicable 29,005,873.01
(b) Lesser of: Deposit from Available Interest and
Available Principal
(i) floor amount stated or 13,335,210.08
(ii) Pool Balance on last day of
Collection Period plus interest
through Scheduled Distribution Date 1,016,160,494.19
Specified Reserve Account Balance 29,005,873.01
Reserve Account
Beginning Balance 30,533,737.80
Deposit from Available Interest and Available
Principal 0.00
Investment Earnings 128,485.73
Less: Withdrawal from Reserve Account and deposit to
Certificate Account to cover:
Accrued and unpaid Basic Servicing Fees 0.00
Amounts to be distributed to Certificateholders' 0.00
Reimb. to Servicer for Outstanding Advances
associated with Defaulted Accounts 48,535.47
Less: Withdrawal by Sellers of Excess of Reserve Account Balance
Over Specified Reserve Account Balance 1,479,329.32
Less: Withdrawal of Investment Earnings by Servicer 128,485.7
-------------------
Ending Balance 29,005,873.01
===================
Available Reserve Account Balance 29,005,873.01
Realized Losses 711,611.22
Net Loss Ratio (annualized)
For the current Collection Period 0.98%
For the preceding Collection Period 1.19%
For the second preceding Collection Period 1.14%
Average Net Loss Ratio (Specified Reserve Account Balance
increases if greater than 1.50%) 1.10%
Delinquency Analysis
Number of Loans
30 to 59 days past due 1,341
60 to 89 days past due 255
90 or more days past due 230
-------------------
Total 1,826
Principal Balance
30 to 59 days past due 13,823,147.68
60 to 89 days past due 3,005,426.22
90 or more days past due 2,735,959.39
-------------------
Total 19,564,533.29
Delinquency Ratio
For the current Collection Period 0.79%
For the preceding Collection Period 0.65%
For the second preceding Collection Period 0.57%
Average Delinquency Ratio (Specified Reserve Account Balance
increases if greater than 1.25%) 0.67%
Collateral Repossessed and Held by the Trust
Number 191
Principal Balance 2,210,770.06
Weighted Average Computations
Weighted Average Coupon 10.49780%
Weighted Average Original Term 59.2
Weighted Average Remaining Term 40.02
</TABLE>
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