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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): December 28, 1998
NATIONSBANC MONTGOMERY FUNDING CORPORATION
Mortgage Pass-Through Certificates, Series 1998-1 Trust
New York (governing law of 333-62301 52-2123153
Pooling and Servicing Agreement) (Commission IRS EIN
(State or other File Number)
jurisdiction
c/o Norwest Bank Minnesota, N.A.
11000 Broken Land Parkway 21044
Columbia, Maryland (Zip Code)
(Address of principal executive offices)
Registrant's telephone number, including area code: (410) 884-2000
(Former name or former address, if changed since last report)
ITEM 5. Other Events
On December 28, 1998 a distribution was made to holders of NATIONSBANC
MONTGOMERY FUNDING CORPORATION, Mortgage Pass-Through Certificates, Series
1998-1 Trust.
ITEM 7. Financial Statements and Exhibits
(c) Exhibits furnished in accordance with Item 601(a) of
Regulation S-K
Exhibit Number Description
Monthly report distributed to holders of
EX-99.1 Mortgage Pass-Through Certificates, Series
1998-1 Trust, relating to the December 28,
1998 distribution.
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.
NATIONSBANC MONTGOMERY FUNDING CORPORATION
Mortgage Pass-Through Certificates, Series 1998-1 Trust
By: Norwest Bank Minnesota, N.A., as Trustee
By: /s/ Sherri J. Sharps, Vice President
By: Sherri J. Sharps, Vice President
Date: 12/29/1998
INDEX TO EXHIBITS
Exhibit Number Description
EX-99.1 Monthly report distributed to holders of Mortgage Pass-Through
Certificates, Series 1998-1 Trust, relating to the December 28,
1998 distribution.
<TABLE>
<CAPTION>
Nationsbanc Montgomery Funding Corp.
Mortgage Pass-Through Certificates
Record Date: 11/30/1998
Distribution Date: 12/28/1998
NMFC Series: 1998-1
Contact: Customer Service - Columbia, MD
Norwest Bank Minnesota, N.A.
Securities Administration Services
11000 Broken Land Parkway
Columbia, MD 21044
Telephone: (301) 815-6600
Fax: (410) 884-2369
Certificateholder Distribution Summary
Certificate Certificate Beginning
Class Pass-Through Certificate Interest Principal
Class CUSIP Description Rate Balance Distribution Distribution
<S> <C> <C> <C> <C> <C> <C>
A-1 63857RAA0 SEN 6.75000% 159,946,362.28 899,698.25 2,362,409.19
A-2 63857RAB8 SEN 6.50000% 24,286,872.95 131,553.89 382,408.42
A-3 63857RAC6 SEN 6.50000% 59,263,668.05 321,011.52 875,324.90
A-4 63857RAD4 SEN 7.25000% 24,329,868.58 146,992.95 359,352.37
A-5 63857RAE2 SEN 5.44234% 5,213,543.41 23,644.90 77,004.08
A-6 63857RAF9 SEN 3.05766% 0.00 13,284.37 0.00
A-7 63857RAG7 SEN 6.75000% 9,754,383.43 54,868.40 131,709.83
A-8 63857RAH5 SEN 6.75000% 48,863,278.66 274,855.93 609,557.32
A-9 63857RAJ1 SEN 6.75000% 73,511,852.55 413,504.16 798,006.63
A-10 63857RAK8 SEN 6.50000% 1,604,000.00 8,688.33 0.00
A-11 63857RAL6 SEN 6.75000% 41,794,000.00 235,091.24 0.00
A-12 63857RAM4 SEN 7.00000% 4,381,000.00 25,555.83 0.00
A-13 63857RAN2 SEN 7.00000% 6,981,000.00 40,722.50 0.00
A-14 63857RAP7 SEN 6.50000% 11,362,000.00 61,544.16 0.00
A-15 63857RAQ5 SEN 6.75000% 10,000,000.00 56,250.00 0.00
A-16 63857RAR3 SEN 6.75000% 56,700,000.00 318,937.49 0.00
R-I 63857RAW2 RES 6.75000% 0.00 0.00 0.00
R-II 63857RAX0 RES 6.75000% 0.00 0.00 0.00
A-PO 63857RAS1 SEN_PO 0.00000% 1,538,787.37 0.00 1,375.77
B-1 63857RAT9 SUB 6.75000% 10,858,722.22 61,080.31 8,864.43
B-2 63857RAU6 SUB 6.75000% 4,890,321.59 27,508.06 3,992.17
B-3 63857RAV4 SUB 6.75000% 2,571,803.13 14,466.39 2,099.47
B-4 63857RAY8 SUB 6.75000% 2,000,291.43 11,251.64 1,632.92
B-5 63857RAZ5 SUB 6.75000% 1,143,023.39 6,429.51 933.10
B-6 63857RBA9 SUB 6.75000% 1,428,942.95 8,037.80 1,166.51
Totals 562,423,721.99 3,154,977.63 5,615,837.11
</TABLE>
<TABLE>
<CAPTION>
Certificateholder Distribution Summary (continued)
Current Ending Cumulative
Realized Certificate Total Realized
Class Loss Balance Distribution Losses
<S> <C> <C> <C> <C>
A-1 0.00 157,583,953.09 3,262,107.44 0.00
A-2 0.00 23,904,464.52 513,962.31 0.00
A-3 0.00 58,388,343.15 1,196,336.42 0.00
A-4 0.00 23,970,516.20 506,345.32 0.00
A-5 0.00 5,136,539.32 100,648.98 0.00
A-6 0.00 0.00 13,284.37 0.00
A-7 0.00 9,622,673.60 186,578.23 0.00
A-8 0.00 48,253,721.34 884,413.25 0.00
A-9 0.00 72,713,845.92 1,211,510.79 0.00
A-10 0.00 1,604,000.00 8,688.33 0.00
A-11 0.00 41,794,000.00 235,091.24 0.00
A-12 0.00 4,381,000.00 25,555.83 0.00
A-13 0.00 6,981,000.00 40,722.50 0.00
A-14 0.00 11,362,000.00 61,544.16 0.00
A-15 0.00 10,000,000.00 56,250.00 0.00
A-16 0.00 56,700,000.00 318,937.49 0.00
R-I 0.00 0.00 0.00 0.00
R-II 0.00 0.00 0.00 0.00
A-PO 0.00 1,537,411.60 1,375.77 0.00
B-1 0.00 10,849,857.79 69,944.74 0.00
B-2 0.00 4,886,329.42 31,500.23 0.00
B-3 0.00 2,569,703.66 16,565.86 0.00
B-4 0.00 1,998,658.51 12,884.56 0.00
B-5 0.00 1,142,090.29 7,362.61 0.00
B-6 0.00 1,427,776.44 9,204.31 0.00
Totals 0.00 556,807,884.85 8,770,814.74 0.00
<FN>
All distributions required by the Pooling and Servicing Agreement have been calculated by the
Certificate Administrator on behalf of the Trustee.
Edward M. Frere, Jr.
Vice President, Norwest Bank Minnesota, N.A.
</FN>
</TABLE>
<TABLE>
<CAPTION>
Principal Distribution Statement
Original Beginning Scheduled Unscheduled
Face Certificate Principal Principal Realized
Class Amount Balance Distribution Distribution Accretion Loss (1)
<S> <C> <C> <C> <C> <C> <C>
A-1 164,351,856.00 159,946,362.28 185,414.13 2,176,995.06 0.00 0.00
A-2 25,000,000.00 24,286,872.95 30,013.40 352,395.03 0.00 0.00
A-3 60,896,001.00 59,263,668.05 68,700.04 806,624.86 0.00 0.00
A-4 25,000,000.00 24,329,868.58 28,203.84 331,148.54 0.00 0.00
A-5 5,357,143.00 5,213,543.41 6,043.68 70,960.40 0.00 0.00
A-6 0.00 0.00 0.00 0.00 0.00 0.00
A-7 10,000,000.00 9,754,383.43 10,337.27 121,372.56 0.00 0.00
A-8 50,000,000.00 48,863,278.66 47,841.22 561,716.10 0.00 0.00
A-9 75,000,000.00 73,511,852.55 62,631.70 735,374.93 0.00 0.00
A-10 1,604,000.00 1,604,000.00 0.00 0.00 0.00 0.00
A-11 41,794,000.00 41,794,000.00 0.00 0.00 0.00 0.00
A-12 4,381,000.00 4,381,000.00 0.00 0.00 0.00 0.00
A-13 6,981,000.00 6,981,000.00 0.00 0.00 0.00 0.00
A-14 11,362,000.00 11,362,000.00 0.00 0.00 0.00 0.00
A-15 10,000,000.00 10,000,000.00 0.00 0.00 0.00 0.00
A-16 56,700,000.00 56,700,000.00 0.00 0.00 0.00 0.00
R-I 100.00 0.00 0.00 0.00 0.00 0.00
R-II 100.00 0.00 0.00 0.00 0.00 0.00
A-PO 1,544,110.41 1,538,787.37 1,375.77 0.00 0.00 0.00
B-1 10,884,853.00 10,858,722.22 8,864.43 0.00 0.00 0.00
B-2 4,902,089.82 4,890,321.59 3,992.17 0.00 0.00 0.00
B-3 2,577,992.00 2,571,803.13 2,099.47 0.00 0.00 0.00
B-4 2,005,105.00 2,000,291.43 1,632.92 0.00 0.00 0.00
B-5 1,145,774.00 1,143,023.39 933.10 0.00 0.00 0.00
B-6 1,432,381.60 1,428,942.95 1,166.51 0.00 0.00 0.00
Totals 572,919,505.83 562,423,721.99 459,249.65 5,156,587.48 0.00 0.00
<FN>
(1) Amount Does Not Include Excess Special Hazard, Bankruptcy, or Fraud Losses Unless Otherwise Disclosed.
Please Refer to the Prospectus Supplement for a Full Description.
</FN>
</TABLE>
<TABLE>
<CAPTION>
Principal Distribution Statement (continued)
Total Ending Ending Total
Principal Certificate Certificate Principal
Class Reduction Balance Percentage Distribution
<S> <C> <C> <C> <C>
A-1 2,362,409.19 157,583,953.09 0.95882065 2,362,409.19
A-2 382,408.42 23,904,464.52 0.95617858 382,408.42
A-3 875,324.90 58,388,343.15 0.95882065 875,324.90
A-4 359,352.37 23,970,516.20 0.95882065 359,352.37
A-5 77,004.08 5,136,539.32 0.95882065 77,004.08
A-6 0.00 0.00 0.00000000 0.00
A-7 131,709.83 9,622,673.60 0.96226736 131,709.83
A-8 609,557.32 48,253,721.34 0.96507443 609,557.32
A-9 798,006.63 72,713,845.92 0.96951795 798,006.63
A-10 0.00 1,604,000.00 1.00000000 0.00
A-11 0.00 41,794,000.00 1.00000000 0.00
A-12 0.00 4,381,000.00 1.00000000 0.00
A-13 0.00 6,981,000.00 1.00000000 0.00
A-14 0.00 11,362,000.00 1.00000000 0.00
A-15 0.00 10,000,000.00 1.00000000 0.00
A-16 0.00 56,700,000.00 1.00000000 0.00
R-I 0.00 0.00 0.00000000 0.00
R-II 0.00 0.00 0.00000000 0.00
A-PO 1,375.77 1,537,411.60 0.99566170 1,375.77
B-1 8,864.43 10,849,857.79 0.99678496 8,864.43
B-2 3,992.17 4,886,329.42 0.99678496 3,992.17
B-3 2,099.47 2,569,703.66 0.99678496 2,099.47
B-4 1,632.92 1,998,658.51 0.99678496 1,632.92
B-5 933.10 1,142,090.29 0.99678496 933.10
B-6 1,166.51 1,427,776.44 0.99678496 1,166.51
Totals 5,615,837.11 556,807,884.85 0.97187804 5,615,837.11
</TABLE>
<TABLE>
<CAPTION>
Principal Distribution Factors Statement
Original Beginning Scheduled Unscheduled
Face Certificate Principal Principal
Class (2) Amount Balance Distribution Distribution Accretion
<S> <C> <C> <C> <C> <C>
A-1 164,351,856.00 973.19474311 1.12815355 13.24594144 0.00000000
A-2 25,000,000.00 971.47491800 1.20053600 14.09580120 0.00000000
A-3 60,896,001.00 973.19474312 1.12815355 13.24594139 0.00000000
A-4 25,000,000.00 973.19474320 1.12815360 13.24594160 0.00000000
A-5 5,357,143.00 973.19474391 1.12815357 13.24594098 0.00000000
A-6 0.00 0.00000000 0.00000000 0.00000000 0.00000000
A-7 10,000,000.00 975.43834300 1.03372700 12.13725600 0.00000000
A-8 50,000,000.00 977.26557320 0.95682440 11.23432200 0.00000000
A-9 75,000,000.00 980.15803400 0.83508933 9.80499907 0.00000000
A-10 1,604,000.00 1000.00000000 0.00000000 0.00000000 0.00000000
A-11 41,794,000.00 1000.00000000 0.00000000 0.00000000 0.00000000
A-12 4,381,000.00 1000.00000000 0.00000000 0.00000000 0.00000000
A-13 6,981,000.00 1000.00000000 0.00000000 0.00000000 0.00000000
A-14 11,362,000.00 1000.00000000 0.00000000 0.00000000 0.00000000
A-15 10,000,000.00 1000.00000000 0.00000000 0.00000000 0.00000000
A-16 56,700,000.00 1000.00000000 0.00000000 0.00000000 0.00000000
R-I 100.00 0.00000000 0.00000000 0.00000000 0.00000000
R-II 100.00 0.00000000 0.00000000 0.00000000 0.00000000
A-PO 1,544,110.41 996.55268175 0.89097903 0.00000000 0.00000000
B-1 10,884,853.00 997.59934470 0.81438215 0.00000000 0.00000000
B-2 4,902,089.82 997.59934427 0.81438124 0.00000000 0.00000000
B-3 2,577,992.00 997.59934476 0.81438189 0.00000000 0.00000000
B-4 2,005,105.00 997.59934268 0.81438129 0.00000000 0.00000000
B-5 1,145,774.00 997.59934333 0.81438399 0.00000000 0.00000000
B-6 1,432,381.60 997.59934783 0.81438494 0.00000000 0.00000000
<FN>
(2) All Classes are per $1000 Denomination
</FN>
</TABLE>
<TABLE>
<CAPTION>
Principal Distribution Factors Statement (continued)
Total Ending Ending Total
Realized Principal Certificate Certificate Principal
Class Loss (3) Reduction Balance Percentage Distribution
<S> <C> <C> <C> <C> <C>
A-1 0.00000000 14.37409499 958.82064812 0.95882065 14.37409499
A-2 0.00000000 15.29633680 956.17858080 0.95617858 15.29633680
A-3 0.00000000 14.37409494 958.82064817 0.95882065 14.37409494
A-4 0.00000000 14.37409480 958.82064800 0.95882065 14.37409480
A-5 0.00000000 14.37409455 958.82064750 0.95882065 14.37409455
A-6 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000
A-7 0.00000000 13.17098300 962.26736000 0.96226736 13.17098300
A-8 0.00000000 12.19114640 965.07442680 0.96507443 12.19114640
A-9 0.00000000 10.64008840 969.51794560 0.96951795 10.64008840
A-10 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000
A-11 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000
A-12 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000
A-13 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000
A-14 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000
A-15 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000
A-16 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000
R-I 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000
R-II 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000
A-PO 0.00000000 0.89097903 995.66170271 0.99566170 0.89097903
B-1 0.00000000 0.81438215 996.78496255 0.99678496 0.81438215
B-2 0.00000000 0.81438124 996.78496303 0.99678496 0.81438124
B-3 0.00000000 0.81438189 996.78496287 0.99678496 0.81438189
B-4 0.00000000 0.81438129 996.78496139 0.99678496 0.81438129
B-5 0.00000000 0.81438399 996.78495934 0.99678496 0.81438399
B-6 0.00000000 0.81438494 996.78496289 0.99678496 0.81438494
<FN>
(3) Amount Does Not Include Excess Special Hazard, Bankrupcy, or Fraud Losses
Unless Otherwise Disclosed.
Please Refer to the Prospectus Supplement for a Full Description.
</FN>
</TABLE>
<TABLE>
<CAPTION>
Interest Distribution Statement
Beginning Payment of
Original Current Certificate/ Current Unpaid Current
Face Certificate Notional Accrued Interest Interest
Class Amount Rate Balance Interest Shortfall Shortfall
<S> <C> <C> <C> <C> <C> <C>
A-1 164,351,856.00 6.75000% 159,946,362.28 899,698.29 0.00 0.00
A-2 25,000,000.00 6.50000% 24,286,872.95 131,553.90 0.00 0.00
A-3 60,896,001.00 6.50000% 59,263,668.05 321,011.54 0.00 0.00
A-4 25,000,000.00 7.25000% 24,329,868.58 146,992.96 0.00 0.00
A-5 5,357,143.00 5.44234% 5,213,543.41 23,644.90 0.00 0.00
A-6 0.00 3.05766% 5,213,543.41 13,284.37 0.00 0.00
A-7 10,000,000.00 6.75000% 9,754,383.43 54,868.41 0.00 0.00
A-8 50,000,000.00 6.75000% 48,863,278.66 274,855.94 0.00 0.00
A-9 75,000,000.00 6.75000% 73,511,852.55 413,504.17 0.00 0.00
A-10 1,604,000.00 6.50000% 1,604,000.00 8,688.33 0.00 0.00
A-11 41,794,000.00 6.75000% 41,794,000.00 235,091.25 0.00 0.00
A-12 4,381,000.00 7.00000% 4,381,000.00 25,555.83 0.00 0.00
A-13 6,981,000.00 7.00000% 6,981,000.00 40,722.50 0.00 0.00
A-14 11,362,000.00 6.50000% 11,362,000.00 61,544.17 0.00 0.00
A-15 10,000,000.00 6.75000% 10,000,000.00 56,250.00 0.00 0.00
A-16 56,700,000.00 6.75000% 56,700,000.00 318,937.50 0.00 0.00
R-I 100.00 6.75000% 0.00 0.00 0.00 0.00
R-II 100.00 6.75000% 0.00 0.00 0.00 0.00
A-PO 1,544,110.41 0.00000% 1,538,787.37 0.00 0.00 0.00
B-1 10,884,853.00 6.75000% 10,858,722.22 61,080.31 0.00 0.00
B-2 4,902,089.82 6.75000% 4,890,321.59 27,508.06 0.00 0.00
B-3 2,577,992.00 6.75000% 2,571,803.13 14,466.39 0.00 0.00
B-4 2,005,105.00 6.75000% 2,000,291.43 11,251.64 0.00 0.00
B-5 1,145,774.00 6.75000% 1,143,023.39 6,429.51 0.00 0.00
B-6 1,432,381.60 6.75000% 1,428,942.95 8,037.80 0.00 0.00
Totals 572,919,505.83 3,154,977.77 0.00 0.00
</TABLE>
<TABLE>
<CAPTION>
Interest Distribution Statement (continued)
Remaining Ending
Non-Supported Total Unpaid Certificate/
Interest Realized Interest Interest Notional
Class Shortfall Losses (4) Distribution Shortfall Balance
<S> <C> <C> <C> <C> <C>
A-1 0.03 0.00 899,698.25 0.00 157,583,953.09
A-2 0.00 0.00 131,553.89 0.00 23,904,464.52
A-3 0.01 0.00 321,011.52 0.00 58,388,343.15
A-4 0.01 0.00 146,992.95 0.00 23,970,516.20
A-5 0.00 0.00 23,644.90 0.00 5,136,539.32
A-6 0.00 0.00 13,284.37 0.00 5,136,539.32
A-7 0.00 0.00 54,868.40 0.00 9,622,673.60
A-8 0.01 0.00 274,855.93 0.00 48,253,721.34
A-9 0.02 0.00 413,504.16 0.00 72,713,845.92
A-10 0.00 0.00 8,688.33 0.00 1,604,000.00
A-11 0.01 0.00 235,091.24 0.00 41,794,000.00
A-12 0.00 0.00 25,555.83 0.00 4,381,000.00
A-13 0.00 0.00 40,722.50 0.00 6,981,000.00
A-14 0.00 0.00 61,544.16 0.00 11,362,000.00
A-15 0.00 0.00 56,250.00 0.00 10,000,000.00
A-16 0.01 0.00 318,937.49 0.00 56,700,000.00
R-I 0.00 0.00 0.00 0.00 0.00
R-II 0.00 0.00 0.00 0.00 0.00
A-PO 0.00 0.00 0.00 0.00 1,537,411.60
B-1 0.00 0.00 61,080.31 0.00 10,849,857.79
B-2 0.00 0.00 27,508.06 0.00 4,886,329.42
B-3 0.00 0.00 14,466.39 0.00 2,569,703.66
B-4 0.00 0.00 11,251.64 0.00 1,998,658.51
B-5 0.00 0.00 6,429.51 0.00 1,142,090.29
B-6 0.00 0.00 8,037.80 0.00 1,427,776.44
Totals 0.10 0.00 3,154,977.63 0.00
<FN>
(4) Amount Does Not Include Excess Special Hazard, Bankrupcy, or Fraud Losses Unless Otherwise Disclosed.
Please Refer to the Prospectus Supplement for a Full Description.
</FN>
</TABLE>
<TABLE>
<CAPTION>
Interest Distribution Factors Statement
Beginning Payment of
Original Current Certificate/ Current Unpaid Current
Face Certificate Notional Accrued Interest Interest
Class (5) Amount Rate Balance Interest Shortfall Shortfall
<S> <C> <C> <C> <C> <C> <C>
A-1 164,351,856.00 6.75000% 973.19474311 5.47422044 0.00000000 0.00000000
A-2 25,000,000.00 6.50000% 971.47491800 5.26215600 0.00000000 0.00000000
A-3 60,896,001.00 6.50000% 973.19474312 5.27147160 0.00000000 0.00000000
A-4 25,000,000.00 7.25000% 973.19474320 5.87971840 0.00000000 0.00000000
A-5 5,357,143.00 5.44234% 973.19474391 4.41371455 0.00000000 0.00000000
A-6 0.00 3.05766% 973.19474391 2.47974900 0.00000000 0.00000000
A-7 10,000,000.00 6.75000% 975.43834300 5.48684100 0.00000000 0.00000000
A-8 50,000,000.00 6.75000% 977.26557320 5.49711880 0.00000000 0.00000000
A-9 75,000,000.00 6.75000% 980.15803400 5.51338893 0.00000000 0.00000000
A-10 1,604,000.00 6.50000% 1000.00000000 5.41666459 0.00000000 0.00000000
A-11 41,794,000.00 6.75000% 1000.00000000 5.62500000 0.00000000 0.00000000
A-12 4,381,000.00 7.00000% 1000.00000000 5.83333257 0.00000000 0.00000000
A-13 6,981,000.00 7.00000% 1000.00000000 5.83333333 0.00000000 0.00000000
A-14 11,362,000.00 6.50000% 1000.00000000 5.41666696 0.00000000 0.00000000
A-15 10,000,000.00 6.75000% 1000.00000000 5.62500000 0.00000000 0.00000000
A-16 56,700,000.00 6.75000% 1000.00000000 5.62500000 0.00000000 0.00000000
R-I 100.00 6.75000% 0.00000000 0.00000000 0.00000000 0.00000000
R-II 100.00 6.75000% 0.00000000 0.00000000 0.00000000 0.00000000
A-PO 1,544,110.41 0.00000% 996.55268175 0.00000000 0.00000000 0.00000000
B-1 10,884,853.00 6.75000% 997.59934470 5.61149609 0.00000000 0.00000000
B-2 4,902,089.82 6.75000% 997.59934427 5.61149653 0.00000000 0.00000000
B-3 2,577,992.00 6.75000% 997.59934476 5.61149530 0.00000000 0.00000000
B-4 2,005,105.00 6.75000% 997.59934268 5.61149665 0.00000000 0.00000000
B-5 1,145,774.00 6.75000% 997.59934333 5.61149930 0.00000000 0.00000000
B-6 1,432,381.60 6.75000% 997.59934783 5.61149347 0.00000000 0.00000000
<FN>
(5) All Classes are Per $1000 Denomination.
</FN>
</TABLE>
<TABLE>
<CAPTION>
Interest Distribution Factors Statement (continued)
Remaining Ending
Non-Supported Total Unpaid Certificate/
Interest Realized Interest Interest Notional
Class Shortfall Losses (6) Distribution Shortfall Balance
<S> <C> <C> <C> <C> <C>
A-1 0.00000018 0.00000000 5.47422020 0.00000000 958.82064812
A-2 0.00000000 0.00000000 5.26215560 0.00000000 956.17858080
A-3 0.00000016 0.00000000 5.27147127 0.00000000 958.82064817
A-4 0.00000040 0.00000000 5.87971800 0.00000000 958.82064800
A-5 0.00000000 0.00000000 4.41371455 0.00000000 958.82064750
A-6 0.00000000 0.00000000 2.47974900 0.00000000 958.82064750
A-7 0.00000000 0.00000000 5.48684000 0.00000000 962.26736000
A-8 0.00000020 0.00000000 5.49711860 0.00000000 965.07442680
A-9 0.00000027 0.00000000 5.51338880 0.00000000 969.51794560
A-10 0.00000000 0.00000000 5.41666459 0.00000000 1000.00000000
A-11 0.00000024 0.00000000 5.62499976 0.00000000 1000.00000000
A-12 0.00000000 0.00000000 5.83333257 0.00000000 1000.00000000
A-13 0.00000000 0.00000000 5.83333333 0.00000000 1000.00000000
A-14 0.00000000 0.00000000 5.41666608 0.00000000 1000.00000000
A-15 0.00000000 0.00000000 5.62500000 0.00000000 1000.00000000
A-16 0.00000018 0.00000000 5.62499982 0.00000000 1000.00000000
R-I 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000
R-II 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000
A-PO 0.00000000 0.00000000 0.00000000 0.00000000 995.66170271
B-1 0.00000000 0.00000000 5.61149609 0.00000000 996.78496255
B-2 0.00000000 0.00000000 5.61149653 0.00000000 996.78496303
B-3 0.00000000 0.00000000 5.61149530 0.00000000 996.78496287
B-4 0.00000000 0.00000000 5.61149665 0.00000000 996.78496139
B-5 0.00000000 0.00000000 5.61149930 0.00000000 996.78495934
B-6 0.00000000 0.00000000 5.61149347 0.00000000 996.78496289
<FN>
(6) Amount Does Not Include Excess Special Hazard, Bankrupcy,or Fraud Losses Unless
Otherwise Disclosed. Please Refer to the Prospectus Supplement for a Full Description.
</FN>
</TABLE>
<TABLE>
<CAPTION>
CERTIFICATE ACCOUNT
<S> <C>
Beginning Balance 0.00
Deposits
Payments of Interest and Principal 8,995,587.16
Liquidations, Insurance Proceeds, Reserve Funds 0.00
Proceeds from Repurchased Loans 0.00
Other Amounts (Servicer Advances) 25,320.16
Realized Losses 0.00
Total Deposits 9,020,907.32
Withdrawals
Reimbursement for Servicer Advances 0.00
Payment of Service Fee 250,092.58
Payment of Interest and Principal 8,770,814.74
Total Withdrawals (Pool Distribution Amount) 9,020,907.32
Ending Balance 0.00
</TABLE>
<TABLE>
<CAPTION>
PREPAYMENT/CURTAILMENT INTEREST SHORTFALL
<S> <C>
Total Prepayment/Curtailment Interest Shortfall 0.00
Servicing Fee Support 0.00
Non-Supported Prepayment/Curtailment Interest Shortfall 0.10
</TABLE>
<TABLE>
<CAPTION>
SERVICING FEES
<S> <C>
Gross Servicing Fee 247,749.18
Trustee Fee 2,343.40
Master Servicing Fee 0.00
Supported Prepayment/Curtailment Interest Shortfall 0.00
Net Servicing Fee 250,092.58
</TABLE>
<TABLE>
<CAPTION>
DELINQUENCY STATUS
Percentage Delinquent
Based On
Current Unpaid
Number Principal Number Unpaid
Of Loans Balance Of Loans Balance
<S> <C> <C> <C> <C>
30 Days 12 3,559,013.04 0.686106% 0.639182%
60 Days 2 386,563.27 0.114351% 0.069425%
90+ Days 0 0.00 0.000000% 0.000000%
Foreclosure 0 0.00 0.000000% 0.000000%
REO 0 0.00 0.000000% 0.000000%
Totals 14 3,945,576.31 0.800457% 0.708606%
</TABLE>
<TABLE>
<CAPTION>
OTHER INFORMATION
<S> <C>
Current Period Realized Loss - Includes Interest Shortfall 0.00
Cumulative Realized Losses - Includes Interest Shortfall 0.00
Current Period Class A Insufficient Funds 0.00
Principal Balance of Contaminated Properties 0.00
Periodic Advance 25,320.16
</TABLE>
<TABLE>
<CAPTION>
SUBORDINATION LEVEL/CLASS PERCENTAGE AND PREPAYMENT PERCENTAGE
Current Next
Original $ Original % Current $ Current % Class% Prepayment%
<S> <C> <C> <C> <C> <C> <C> <C>
Class 408,567,649.83 71.31327275% 399,223,931.76 71.69868504% 95.891866% 100.000000%
Class R-II 24,492,305.83 4.27499947% 24,411,827.71 4.38424605% 0.000000% 0.000000%
Class A-PO 22,948,195.42 4.00548335% 22,874,416.11 4.10813437% 0.276112% 0.000000%
Class B-1 12,063,342.42 2.10559115% 12,024,558.32 2.15955245% 1.948582% 0.000000%
Class B-2 7,161,252.60 1.24995790% 7,138,228.90 1.28199135% 0.877561% 0.000000%
Class B-3 4,583,260.60 0.79998334% 4,568,525.24 0.82048501% 0.461506% 0.000000%
Class B-4 2,578,155.60 0.45000311% 2,569,866.73 0.46153562% 0.358949% 0.000000%
Class B-5 1,432,381.60 0.25001446% 1,427,776.44 0.25642174% 0.205114% 0.000000%
Class B-6 0.00 0.00000000% 0.00 0.00000000% 0.256422% 0.000000%
<FN>
Please Refer to the Prospectus Supplement for a Full Description of Loss Exposure
</FN>
</TABLE>
<TABLE>
<CAPTION>
CREDIT ENHANCEMENT
Original $ Original % Current $ Current %
<S> <C> <C> <C> <C>
Bankruptcy 207,394.69 0.03619962% 207,394.69 0.03724708%
Fraud 5,728,869.56 0.99994319% 5,728,869.56 1.02887723%
Special Hazard 5,730,555.80 1.00023751% 5,730,555.80 1.02918007%
<FN>
Limit of Subordinate's Exposure to Certain Types of Losses
</FN>
</TABLE>
<TABLE>
<CAPTION>
COLLATERAL STATEMENT
<S> <C>
Collateral Description Mixed Fixed
Weighted Average Gross Coupon 7.265135%
Weighted Average Net Coupon 6.736531%
Weighted Average Pass-Through Rate 6.731532%
Weighted Average Maturity(Stepdown Calculation ) 357
Beginning Scheduled Collateral Loan Count 1,764
Number Of Loans Paid In Full 15
End Scheduled Collateral Loan Count 1,749
Beginning Scheduled Collateral Balance 562,423,722.18
Ending Scheduled Collateral Balance 556,807,885.06
Ending Actual Collateral Balance at 30-Nov-1998 557,062,130.91
Monthly P &I Constant 3,864,319.87
Class A Optimal Amount 8,621,976.79
Ending Scheduled Balance for Premium Loans 556,807,885.06
</TABLE>
<TABLE>
<CAPTION>
<S> <C>
Senior Percentage 95.91839550%
Subordinate Percentage 4.0816045%
Class A-16 Percentage .10109025%
Senior Prepayment Percentage 100%
Subordinate Prepayment Percentage 0.00%
</TABLE>
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