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SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 10-K
(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.: 333-03574
First Union Residential Securitization Transactions, Inc.
Mortgage Pass-Through Certificates
Series 1998-A Trust
(Exact name of registrant as specified in its charter)
New York 52-2101235, 52-2101236
(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 ___
Indicate by check mark if disclosure of delinquent filers pursuant
to item 405 of Regulation S-K is not contained herein, and will
not be contained, to the best of registrant's knowledge, in
definitive proxy or information statements incorporated by
reference in Part III of this Form 10-K or any amendment to this
Form 10-K.
Not applicable
State the aggregate market value of the voting and non-voting
common equity stock held by non-affilites of the registrant. The
aggregate market value shall be computed by reference to the price
at which the common equity was sold, or the average bid and asked
prices of such common equity, as of a specified date within 60
days prior to the date of filing. (See definition of affiliate
in Rule 12b-2 of the Exchange Act.)
Not applicable
Indicate the number of shares outstanding of each of the
registrant's classes of common stock, as of the latest
practicable date.
Not applicable
Part I
Item 1. Business.
Omitted
Item 2. Properties.
See Item 14(a), Exhibits 99.1, 99.2, and 99.3, for
information provided in lieu of information required by
Item 102 of Regulation S-K.
Item 3. Legal Proceedings.
The registrant knows of no material pending legal
proceedings involving the trusts created under the
Pooling and Servicing Agreement (the Trusts), the
Trustee, the Servicer or the registrant with respect to
the Trusts other than routine litigation incidental to
the duties of the respective parties.
Item 4. Submission of Matters to a Vote of Security Holders.
None
PART II
Item 5. Market for Registrant's Common Equity and Related
Stockholder Matters.
No established public trading market for the
Certificates exists.
As of December 31, 1998, the number of holders of
the publicly offered Certificates was
109
Item 6. Selected Financial Data.
Omitted
Item 7. Management's Discussion and Analysis of Financial
Condition and Results of Operations.
Omitted
Item 8. Financial Statements and Supplementary Data.
See Item 14(a), Exhibits 99.1, 99.2, 99.3, for
information provided in lieu of information required
by Item 302 of Regulation S-K.
Item 9. Changes in and Disagreements with Accountants on
Accounting and Financial Disclosure.
None.
PART III
Item 10. Directors and Executive Officers of the Registrant.
Not applicable.
Item 11. Executive Compensation.
Not applicable.
Item 12. Security Ownership of Certain Beneficial Owners and
Management.
Not applicable.
Item 13. Certain Relationships and Related Transactions.
Not applicable.
PART IV
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) First Union
(99.2) Report of Management as to Compliance with
Minimum Servicing Standards for the year
ended December 31, 1998.
a) First Union
(99.3) Annual Statements of Compliance under the
Pooling and Servicing Agreements for the
year ended December 31, 1998.
a) First Union
(99.4) Aggregate Statement of Principal and
Interest Distributions to Certificate
Holders.
(b) On October 7, 1998, November 10, 1998, and
December 8, 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.
Such document (i) is not filed herewith since such document
was not received by the reporting person at least three business
days prior to the due date covered by this report: and (ii) will
be included in an amendment to this report on Form 10-K/A to be
filed within 30 days of the Reporting Person's receipt of such
document.
SIGNATURES
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:
First Union Residential Securitization Transactions, Inc.
Mortgage Pass-Through Certificates
Series 1998-A Trust
Signed: Norwest Bank Minnesota, N.A., as Trustee
By: Sherri J. Sharps, Vice President
By: /s/ Sherri J. Sharps, Vice President
Dated: March 20, 1999
SUPPLEMENTAL INFORMATION TO BE FURNISHED WITH REPORTS FILED
PURSUANT TO SECTION 15(d) OF THE ACT BY REGISTRANTS WHICH HAVE NOT
REGISTERED SECURITIES PURSUANT TO SECTION 12 OF THE ACT.
(a)(i) No annual report is provided to the Certificateholders
other than with respect to aggregate principal and interest
distributions.
(a)(ii) No proxy statement, form of proxy or other proxy
soliciting material has been sent to any Certificateholder
with respect to any annual or other meeting of Certificateholders.