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Previous: FIRST WASHINGTON REALTY TRUST INC, 8-K, 1998-07-31 |
Next: US FOODSERVICE/MD/, S-3/A, 1998-07-31 |
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): JULY 15, 1998
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 99 HERETO IN RESPONSE TO THIS ITEM 5.
ITEM 7. FINANCIAL STATEMENTS, PRO FORMA FINANCIAL STATEMENTS AND EXHIBITS
-------------------------------------------------------------------
(C) EXHIBITS
99 MONTHLY SERVICER'S CERTIFICATE FOR NATIONSBANK, N.A.
CLASS A & B, NATIONSBANK AUTO TRUST 1995-A
<PAGE>
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 HEREUNTO DULY AUTHORIZED.
NATIONSBANK, N.A.
-----------------
(REGISTRANT)
(AS SERVICER ON BEHALF OF NATIONSBANK AUTO GRANTOR TRUST 1995-A)
DATED: ____________________ BY: /S/ SUZANNE W. CASTLEBERRY
--------------------------
NAME: SUZANNE W. CASTLEBERRY
TITLE: VICE PRESIDENT
(DULY AUTHORIZED OFFICER)
<PAGE>
INDEX TO EXHIBITS
- -------------------
EXHIBIT
NUMBER EXHIBIT
- ------ -------
99 MONTHLY SERVICER'S CERTIFICATE FOR NATIONSBANK, N.A.
CLASS A & B, NATIONSBANK AUTO TRUST 1995-A
<TABLE>
<CAPTION>
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.
<btb>
<S> <C>
Collection Period Jun-98
Determination Date 7/8/98
Deposit Date 7/14/98
Distribution Date 7/15/98
Pool Balance on the close of the last day of the preceding Collection Period 200,025,573.49
Less:Principal Collections 14,422,682.11
Purchase Amount allocable to Principal 0.00
Realized Losses 318,470.48
----------------------
Pool Balance on the close of the last day of the Collection Period 185,284,420.90
======================
Original Pool Balance 1,066,816,806.33
Pool Factor 17.36797%
Class A Certificate Balance
Beginning Class A Certificate Balance 194,024,806.28
Class A Principal Distribution to Class A Distribution Account 14,298,918.01
----------------------
Ending Class A Certificate Balance 179,725,888.27
Original Class A Certificate Balance 1,034,812,302.14
Class A Pool Factor 17.36797%
Class B Certificate Balance
Beginning Class B Certificate Balance 6,000,767.20
Class B Principal Distribution to Class B Distribution Account 442,234.58
----------------------
Ending Class B Certificate Balance 5,558,532.62
Original Class B Certificate Balance 32,004,504.19
Class B Pool Factor 17.36797%
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 1,828,255.94
Recoveries 123,728.58
Purchase Amount allocable to Interest 0.00
----------------------
Total Interest Collections 1,951,984.52
Advances for the related Distribution Date 268,640.28
Less: Outstanding Advances to be reimbursed 334,921.39
----------------------
Total Available Interest 1,885,703.41
Available Principal
Collections and Liquidation Proceeds allocable to Principal 14,422,682.11
Purchase Amount allocable to Principal 0.00
----------------------
Total Available Principal 14,422,682.11
Deposit to Certificate Account
Available Interest 1,885,703.41
Available Principal 14,422,682.11
Withdrawal from Reserve Account 0.00
Less: Basic Servicing Fee to be withheld from Collections 166,687.98
----------------------
Net Deposit to Certificate Account 16,141,697.54
Class A Interest Distribution
Class A Monthly Interest 945,870.93
Class A Interest Carryover Shortfall 0.00
----------------------
Total 945,870.93
Class B Interest Distribution
Class B Monthly Interest 30,003.84
Class B Interest Carryover Shortfall 0.00
----------------------
Total 30,003.84
Class A Principal Distribution
Class A Monthly Principal 14,298,918.01
Class A Principal Carryover Shortfall from the preceding Distribution Date 0.00
----------------------
Total 14,298,918.01
Class B Principal Distribution
Class B Monthly Principal 442,234.58
Class B Principal Carryover Shortfall from the preceding Distribution Date 0.00
----------------------
Total 442,234.58
Basic Servicing Fee (inc. unpaid amount from prior periods) 166,687.98
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 166,687.98
Class A Interest Distribution to Class A Distribution Account 945,870.93
Class B Interest Distribution to Class B Distribution Account 30,003.84
Distributions of Available Principal, Remaining Available Interest
and Remaining Available Reserve Amount
Class A Principal Distribution to Class A Distribution Account 14,298,918.01
Class B Principal Distribution to Class B Distribution Account 442,234.58
To Reserve Account up to Specified Reserve Account Balance 14,548.94
Any Remaining Amounts to Sellers 410,121.25
Specified Reserve Account Balance 13,335,210.08
Greater of:
(a) Reserve percentage applicable 5.00%
Pool Balance on last day of Collection Period times reserve percentage applicable 9,264,221.05
(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 235,320,204.64
Specified Reserve Account Balance 13,335,210.08
Reserve Account
Beginning Balance 13,335,210.08
Deposit from Available Interest and Available Principal 14,548.94
Investment Earnings 55,459.86
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 14,548.94
Less: Withdrawal by Sellers of Excess of Reserve Account Balance Over Specified Reserve Account Balance 0.00
Less: Withdrawal of Investment Earnings by Servicer 55,459.86
----------------------
Ending Balance 13,335,210.08
======================
Available Reserve Account Balance 13,335,210.08
Realized Losses 318,470.48
Net Loss Ratio (annualized)
For the current Collection Period 1.21%
For the preceding Collection Period 1.36%
For the second preceding Collection Period 2.70%
Average Net Loss Ratio (Specified Reserve Account Balance increases if greater than 1.50%) 1.76%
Delinquency Analysis
Number of Loans
30 to 59 days past due 939
60 to 89 days past due 196
90 or more days past due 158
----------------------
Total 1,293
Principal Balance
30 to 59 days past due 6,359,533.57
60 to 89 days past due 1,360,863.86
90 or more days past due 1,277,584.65
----------------------
Total 8,997,982.08
Delinquency Ratio
For the current Collection Period 1.42%
For the preceding Collection Period 1.38%
For the second preceding Collection Period 1.27%
Average Delinquency Ratio (Specified Reserve Account Balance increases if greater than 1.25%) 1.36%
Collateral Repossessed and Held by the Trust
Number 88
Principal Balance 666,119.49
Weighted Average Computations
Weighted Average Coupon 10.63150%
Weighted Average Original Term 61.79
Weighted Average Remaining Term 23.10
</TABLE>
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