SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 10-K/A
Amendment No. 1
(Mark One)
/ x / ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF
THE SECURITIES EXCHANGE ACT OF 1934
For the fiscal year ended December 31, 1998 or
/ / TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934
Commission File No.: 333-62301
Nationsbanc Montgomery Funding Corp.
Mortgage Pass-Through Certificates
Series 1998-2 Trust
(Exact name of registrant as specified in its charter)
New York 52-2128033
(State or other jurisdiction (I.R.S. Employer
of incorporation or Identification No.)
organization)
c/o Norwest Bank Minnesota, N.A.
11000 Broken Land Parkway
Columbia, Maryland 21044
(Address of principal executive offices) (ZIP Code)
Registrant's telephone number, including area code:
(410) 884-2000
Securities to be registered pursuant to Section 12(b)
of the Act:
NONE
Securities to be 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 ___
This Amendment No. 1 on Form 10-K/A amends Item 14 of the original Annual Report
on Form 10-K (the "Original Form 10-K") filed on March 25, 1999, on behalf of
Nationsbanc Montgomery Funding Corp. Mortgage Pass-Through Certificates Series
1998-2 Trust established pursuant to a Pooling and Servicing Agreement among
Nationsbanc Montgomery Funding Corp., as Sponsor, Nationsbanc Mortgage Corp., as
Master Servicer, and Norwest Bank Minnesota, National Association, as Trustee
pursuant to which the Nationsbanc Montgomery Funding Corp. Mortgage Pass-Through
Certificates Series 1998-2 Trust registered under the Securities Act of 1933
(the "Certificates") were issued.
Item 14. Exhibits, Financial Statement Schedules, and Reports
on Form 8-K.
(a) Exhibits
(99.1) Annual Independent Accountants' Servicing
Reports concerning servicing activities for
the year ended December 31, 1998.
a) NationsBanc Mortgage Corporation <F1>
(99.2) Report of Management as to Compliance with
Minimum Servicing Standards for the year
ended December 31, 1998.
a) NationsBanc Mortgage Corporation <F1>
(99.3) Annual Statements of Compliance under the
Pooling and Servicing Agreements for the
year ended December 31, 1998.
a) NationsBanc Mortgage Corporation <F1>
(99.4) Aggregate Statement of Principal and
Interest Distributions to Certificate
Holders. <F2>
(b) On October 2, 1998, a report on Form 8-K was
filed in order to provide the Pooling and
Servicing Agreement for the Certificates.
On November 9, 1998, and December 4, 1998,
reports on Form 8-K were filed by the Company
in order to provide the statements for the
monthly distributions to holders of the
Certificates. No other reports on Form 8-K
have been filed during the last quarter
of the period covered by this report.
(c) Not applicable.
(d) Omitted.
<F1> Filed herewith.
<F2> Previously filed.
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:
Nationsbanc Montgomery Funding Corp.
Mortgage Pass-Through Certificates
Series 1998-2 Trust
Signed: Norwest Bank Minnesota, N.A., as Trustee
By: Sherri J. Sharps, Vice president
By: /s/ Sherri J. Sharps, Vice president
Dated: December 15, 1999
Exhibit Index
Exhibit No.
99.1 Annual Independent Accountants' Servicing Reports concerning servicing
activities for the year ended December 31, 1998.
a) NationsBanc Mortgage Corporation <F1>
99.2 Report of Management as to Compliance with Minimum Servicing Standards
for the year ended December 31, 1998.
a) NationsBanc Mortgage Corporation <F1>
99.3 Annual Statements of Compliance under the Pooling and Servicing
Agreements for the year ended December 31, 1998.
a) NationsBanc Mortgage Corporation <F1>
99.4 Aggregate Statement of Principal and Interest Distributions to
Certificate Holders.<F2>
<F1> Filed herewith.
<F2> Previously filed.
(LOGO)
PricewaterhouseCoopers LLP
Bank of America Corporate Center
Suite 5400
I00 N. Tryon Street
Charlotte NC 28202
Telephone (704) 344 7500
REPORT OF INDEPENDENT ACCOUNTANTS
March 12, 1999
To the Board of Directors and Shareholder of NationsBanc Mortgage Corporation
We have examined management's assertion about NationsBanc Mortgage Corporation's
(the "Company") compliance with the minimum servicing standards (the
"Standards") identified in the Mortgage Bankers Association of America's Uniform
Single Attestation Program for Mortgage Bankers ("USAP") as of and for the year
ended December 3l, 1998 included in the accompanying management assertion,
attached hereto as Exhibit I. Management is responsible for the Company's
compliance with the Standards. Our responsibility is to express an opinion on
management's assertion about the Company's compliance based on our examination.
Our examination was made in accordance with standards established by the
American Institute of Certified Public Accountants and, accordingly, included
examining, on a test basis, evidence about the Company's compliance with the
Standards 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 the
Company's compliance with the Standards.
In our opinion, management's assertion that, except as indicated in Exhibit I,
the Company complied with the aforementioned Standards as of and for the year
ended December 31, 1998 is fairly stated, in all material respects.
PricewaterhouseCoopers LLP
NationsBanc Mortgage Corporation
PO Box 35140
Louisville, KY 40232-5140
(LOGO)
Nations Bank
Norwest Bank Minnesota, N.A.
I I000 Broken Land Parkway
Columbia, MD 21044-3562
Attention: Master Servicing
RE: Officer's Certificate
Dear Master Servicer:.
The undersigned Officer certifies the following for the 1998 fiscal year:
(A) I have reviewed the activities and performance of the Servicer during the
preceding fiscal year under the terms of the Servicing Agreement, Trust
Agreement, Pooling and Servicing Agreement and/or Seller/Servicer Guide and to
the best of these Officers' knowledge, the Servicer has fulfilled all of its
duties, responsibilities or obligations under these Agreement throughout such
year, or if there has been a default or failure of the servicer to perform any
of such duties, responsibilities or obligations, a description of each default
or failure and the nature and status thereof has been reported to Norwest Bank
Minnesota, N.A.;
(B) I have confirmed that the Servicer is currently an approved FNMA or FHLMC
servicer in good standing;
(C) I have confirmed that the Fidelity Bond, the Errors and Omissions Insurance
Policy and any other bonds required under the terms of the Servicing Agreement,
Trust Agreement, Pooling and Servicing Agreement and/or Seller/Servicer Guide
are in full force and effect;
(D) All premiums for each Hazard Insurance Policy, Flood Insurance Policy (if
applicable) and Primary Mortgage Insurance Policy (if applicable), with respect
to each Mortgaged Property, have been paid and that all such insurance policies
are in full force and effect;
(E) All real estate taxes, governmental assessments and any other expenses
accrued and due, that if not paid could result in a lien or encumbrance on any
Mortgaged Property., have been paid, or if any such costs or expenses have not
been paid with respect to any Mortgaged Property, the reason for the non-payment
has been reported to Norwest Bank Minnesota, N.A.;
(F) All Custodial Accounts have been reconciled and are properly funded; and
(G) All annual reports of Foreclosure and Abandonment of Mortgage Property
required per section 6050H, 6050J and 6050P of the Internal Revenue Code,
respectively, have been prepared and filed.
Certified By:
Officer MICHAEL PATTEN
SR. VICE PRESIDENT
Title
3/25/99
Date
NationsBanc Mortgage Corporation
205 Park Club Lane
P.O. Box 9000
Buffalo, NY 14231-9000
(LOGO)
NationsBank
Officer's Certificate
Pursuant to the terms of the Servicing Agreement, the undersigned officer
certifies to the following:
All hazard (or mortgage impairment if applicable), flood, or other casualty
insurance and primary mortgage guaranty insurance premiums, taxes, ground rents,
assessments, and other charges have been paid in connection with the Mortgaged
Properties;
Each officer has reviewed the activities and performance of the Seller/Servicer
during the preceding calendar year and to the best of each officer's knowledge,
based on such review, the Seller/Servicer has fulfilled all of its obligations
under the Agreement throughout the year.
Certified By: Judy M. Kamens
Officer
A subsidiary of NationsBank Corporation
