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 1998-4 Trust
New York (governing law of 333-62301 PENDING
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
1998-4 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
1998-4 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 1998-4 Trust
By: Norwest Bank Minnesota, N.A., As Trustee
By: /s/ Sherri J. Sharps, Vice President
By: Sherri J. Sharps, Vice President
Date: 01/06/1999
INDEX TO EXHIBITS
Exhibit Number Description
EX-99.1 Monthly report distributed to holders of Mortgage Pass-Through
Certificates, Series 1998-4 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: 1998-4
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>
R 63857RCY6 RES 6.25000% 100.00 0.53 100.00
A-1 63857RCR1 SEN_FI 6.25000% 248,700,000.00 1,295,312.50 535,963.51
A-2 63857RCS9 SEN_FI 6.25000% 12,808,500.00 66,710.94 0.00
A-3 63857RCT7 SEN_FI 6.25000% 30,400,000.00 158,333.33 0.00
A-PO 63857RCU4 SEN_PO 0.00000% 47,826.00 0.00 46.03
B-1 63857RCV2 JUN_FI 6.25000% 6,555,680.00 34,144.17 5,339.00
B-2 63857RCW0 JUN_FI 6.25000% 2,591,781.00 13,498.86 2,110.77
B-3 63857RCX8 JUN_FI 6.25000% 1,372,120.00 7,146.46 1,117.47
B-4 63857RCZ3 JUN_FI 6.25000% 1,067,204.00 5,558.35 869.14
B-5 63857RDA7 JUN_FI 6.25000% 609,831.00 3,176.20 496.65
B-6 63857RDB5 JUN_FI 6.25000% 762,290.74 3,970.26 620.82
Totals 304,915,332.74 1,587,851.60 546,663.39
</TABLE>
<TABLE>
<CAPTION>
Certificateholder Distribution Summary (continued)
Current Ending Cumulative
Realized Certificate Total Realized
Class Loss Balance Distribution Losses
<S> <C> <C> <C> <C>
R 0.00 0.00 100.53 0.00
A-1 0.00 248,164,036.49 1,831,276.01 0.00
A-2 0.00 12,808,500.00 66,710.94 0.00
A-3 0.00 30,400,000.00 158,333.33 0.00
A-PO 0.00 47,779.97 46.03 0.00
B-1 0.00 6,550,341.00 39,483.17 0.00
B-2 0.00 2,589,670.23 15,609.63 0.00
B-3 0.00 1,371,002.53 8,263.93 0.00
B-4 0.00 1,066,334.86 6,427.49 0.00
B-5 0.00 609,334.35 3,672.85 0.00
B-6 0.00 761,669.92 4,591.08 0.00
Totals 0.00 304,368,669.35 2,134,514.99 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>
R 100.00 100.00 44.35 55.65 0.00 0.00
A-1 248,700,000.00 248,700,000.00 237,688.62 298,274.88 0.00 0.00
A-2 12,808,500.00 12,808,500.00 0.00 0.00 0.00 0.00
A-3 30,400,000.00 30,400,000.00 0.00 0.00 0.00 0.00
A-PO 47,826.00 47,826.00 45.35 0.68 0.00 0.00
B-1 6,555,680.00 6,555,680.00 5,339.00 0.00 0.00 0.00
B-2 2,591,781.00 2,591,781.00 2,110.77 0.00 0.00 0.00
B-3 1,372,120.00 1,372,120.00 1,117.47 0.00 0.00 0.00
B-4 1,067,204.00 1,067,204.00 869.14 0.00 0.00 0.00
B-5 609,831.00 609,831.00 496.65 0.00 0.00 0.00
B-6 762,290.74 762,290.74 620.82 0.00 0.00 0.00
Totals 304,915,332.74 304,915,332.74 248,332.17 298,331.21 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>
R 100.00 0.00 0.00000000 100.00
A-1 535,963.51 248,164,036.49 0.99784494 535,963.51
A-2 0.00 12,808,500.00 1.00000000 0.00
A-3 0.00 30,400,000.00 1.00000000 0.00
A-PO 46.03 47,779.97 0.99903755 46.03
B-1 5,339.00 6,550,341.00 0.99918559 5,339.00
B-2 2,110.77 2,589,670.23 0.99918559 2,110.77
B-3 1,117.47 1,371,002.53 0.99918559 1,117.47
B-4 869.14 1,066,334.86 0.99918559 869.14
B-5 496.65 609,334.35 0.99918559 496.65
B-6 620.82 761,669.92 0.99918559 620.82
Totals 546,663.39 304,368,669.35 0.99820716 546,663.39
</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>
R 100.00 1000.00000000 443.50000000 556.50000000 0.00000000
A-1 248,700,000.00 1000.00000000 0.95572425 1.19933607 0.00000000
A-2 12,808,500.00 1000.00000000 0.00000000 0.00000000 0.00000000
A-3 30,400,000.00 1000.00000000 0.00000000 0.00000000 0.00000000
A-PO 47,826.00 1000.00000000 0.94822900 0.01421821 0.00000000
B-1 6,555,680.00 1000.00000000 0.81440827 0.00000000 0.00000000
B-2 2,591,781.00 1000.00000000 0.81440909 0.00000000 0.00000000
B-3 1,372,120.00 1000.00000000 0.81441128 0.00000000 0.00000000
B-4 1,067,204.00 1000.00000000 0.81440849 0.00000000 0.00000000
B-5 609,831.00 1000.00000000 0.81440596 0.00000000 0.00000000
B-6 762,290.74 1000.00000000 0.81441367 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>
R 0.00000000 1000.00000000 0.00000000 0.00000000 1000.00000000
A-1 0.00000000 2.15506035 997.84493965 0.99784494 2.15506035
A-2 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000
A-3 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000
A-PO 0.00000000 0.96244720 999.03755280 0.99903755 0.96244720
B-1 0.00000000 0.81440827 999.18559173 0.99918559 0.81440827
B-2 0.00000000 0.81440909 999.18559091 0.99918559 0.81440909
B-3 0.00000000 0.81441128 999.18558872 0.99918559 0.81441128
B-4 0.00000000 0.81440849 999.18559151 0.99918559 0.81440849
B-5 0.00000000 0.81440596 999.18559404 0.99918559 0.81440596
B-6 0.00000000 0.81441367 999.18558633 0.99918559 0.81441367
<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>
R 100.00 6.25000% 100.00 0.52 0.00 0.00
A-1 248,700,000.00 6.25000% 248,700,000.00 1,295,312.50 0.00 0.00
A-2 12,808,500.00 6.25000% 12,808,500.00 66,710.94 0.00 0.00
A-3 30,400,000.00 6.25000% 30,400,000.00 158,333.33 0.00 0.00
A-PO 47,826.00 0.00000% 47,826.00 0.00 0.00 0.00
B-1 6,555,680.00 6.25000% 6,555,680.00 34,144.17 0.00 0.00
B-2 2,591,781.00 6.25000% 2,591,781.00 13,498.86 0.00 0.00
B-3 1,372,120.00 6.25000% 1,372,120.00 7,146.46 0.00 0.00
B-4 1,067,204.00 6.25000% 1,067,204.00 5,558.35 0.00 0.00
B-5 609,831.00 6.25000% 609,831.00 3,176.20 0.00 0.00
B-6 762,290.74 6.25000% 762,290.74 3,970.26 0.00 0.00
Totals 304,915,332.74 1,587,851.59 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>
R 0.00 0.00 0.53 0.00 0.00
A-1 0.00 0.00 1,295,312.50 0.00 248,164,036.49
A-2 0.00 0.00 66,710.94 0.00 12,808,500.00
A-3 0.00 0.00 158,333.33 0.00 30,400,000.00
A-PO 0.00 0.00 0.00 0.00 47,779.97
B-1 0.00 0.00 34,144.17 0.00 6,550,341.00
B-2 0.00 0.00 13,498.86 0.00 2,589,670.23
B-3 0.00 0.00 7,146.46 0.00 1,371,002.53
B-4 0.00 0.00 5,558.35 0.00 1,066,334.86
B-5 0.00 0.00 3,176.20 0.00 609,334.35
B-6 0.00 0.00 3,970.26 0.00 761,669.92
Totals 0.00 0.00 1,587,851.60 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>
R 100.00 6.25000% 1000.00000000 5.20000000 0.00000000 0.00000000
A-1 248,700,000.00 6.25000% 1000.00000000 5.20833333 0.00000000 0.00000000
A-2 12,808,500.00 6.25000% 1000.00000000 5.20833353 0.00000000 0.00000000
A-3 30,400,000.00 6.25000% 1000.00000000 5.20833322 0.00000000 0.00000000
A-PO 47,826.00 0.00000% 1000.00000000 0.00000000 0.00000000 0.00000000
B-1 6,555,680.00 6.25000% 1000.00000000 5.20833384 0.00000000 0.00000000
B-2 2,591,781.00 6.25000% 1000.00000000 5.20833357 0.00000000 0.00000000
B-3 1,372,120.00 6.25000% 1000.00000000 5.20833455 0.00000000 0.00000000
B-4 1,067,204.00 6.25000% 1000.00000000 5.20832943 0.00000000 0.00000000
B-5 609,831.00 6.25000% 1000.00000000 5.20832821 0.00000000 0.00000000
B-6 762,290.74 6.25000% 1000.00000000 5.20832773 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>
R 0.00000000 0.00000000 5.30000000 0.00000000 0.00000000
A-1 0.00000000 0.00000000 5.20833333 0.00000000 997.84493965
A-2 0.00000000 0.00000000 5.20833353 0.00000000 1000.00000000
A-3 0.00000000 0.00000000 5.20833322 0.00000000 1000.00000000
A-PO 0.00000000 0.00000000 0.00000000 0.00000000 999.03755280
B-1 0.00000000 0.00000000 5.20833384 0.00000000 999.18559173
B-2 0.00000000 0.00000000 5.20833357 0.00000000 999.18559091
B-3 0.00000000 0.00000000 5.20833455 0.00000000 999.18558872
B-4 0.00000000 0.00000000 5.20832943 0.00000000 999.18559151
B-5 0.00000000 0.00000000 5.20832821 0.00000000 999.18559404
B-6 0.00000000 0.00000000 5.20832773 0.00000000 999.18558633
<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 2,347,676.35
Liquidations, Insurance Proceeds, Reserve Funds 0.00
Proceeds from Repurchased Loans 0.00
Other Amounts (Servicer Advances) 0.00
Realized Losses 0.00
Total Deposits 2,347,676.35
Withdrawals
Reimbursement for Servicer Advances 0.00
Payment of Service Fee 213,161.36
Payment of Interest and Principal 2,134,514.99
Total Withdrawals (Pool Distribution Amount) 2,347,676.35
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 0.00
</TABLE>
<TABLE>
<CAPTION>
SERVICING FEES
<S> <C>
Gross Servicing Fee 210,620.39
Trustee Fee 2,540.97
Master Servicing Fee 0.00
Supported Prepayment/Curtailment Interest Shortfall 0.00
Net Servicing Fee 213,161.36
</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 0 0.00 0.000000% 0.000000%
60 Days 0 0.00 0.000000% 0.000000%
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 0 0.00 0.000000% 0.000000%
</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 0.00
</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 A 12,958,906.74 4.25000167% 12,948,352.89 4.25416745% 95.745832% 100.000000%
Class B-1 6,403,226.74 2.10000156% 6,398,011.89 2.10205994% 2.152108% 0.000000%
Class B-2 3,811,445.74 1.25000134% 3,808,341.66 1.25122657% 0.850833% 0.000000%
Class B-3 2,439,325.74 0.80000101% 2,437,339.13 0.80078516% 0.450441% 0.000000%
Class B-4 1,372,121.74 0.45000090% 1,371,004.27 0.45044198% 0.350343% 0.000000%
Class B-5 762,290.74 0.25000079% 761,669.92 0.25024584% 0.200196% 0.000000%
Class B-6 0.00 0.00000000% 0.00 0.00000000% 0.250246% 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 100,000.00 0.03279599% 100,000.00 0.03285489%
Fraud 3,049,153.33 1.00000000% 3,049,153.33 1.00179606%
Special Hazard 3,049,153.33 1.00000000% 3,049,153.33 1.00179606%
<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 7.087920%
Weighted Average Net Coupon 6.259020%
Weighted Average Pass-Through Rate 6.249020%
Weighted Average Maturity(Stepdown Calculation ) 359
Begin Scheduled Collateral Loan Count 909
Number Of Loans Paid In Full 1
End Scheduled Collateral Loan Count 908
Begining Scheduled Collateral Balance 304,915,332.74
Ending Scheduled Collateral Balance 304,368,669.84
Ending Actual Collateral Balance at 30-Nov-1998 304,554,209.53
Monthly P &I Constant 2,049,345.20
Class A Optimal Amount 2,056,420.80
Ending Scheduled Balance for Premium Loans 304,368,669.84
</TABLE>
<TABLE>
<CAPTION>
<S> <C>
Senior Percentage 95.74933161%
Subordinate Percentage 4.25066839%
A-3% .10414300%
Senior Prepayment Percentage 100%
Subordinate Prepayment Percentage 0%
</TABLE>
