NATIONSBANK, N.A. EXHIBIT 99
MONTHLY SERVICING REPORT - BOATMENS AUTO TRUST 1996-A
NOVEMBER 1, 1998 THROUGH NOVEMBER 30, 1998
A. ORIGINAL DEAL PARAMETER INPUTS
- ---------------------------------
(A) Total Portfolio Balance $290,623,554.00
(B) Class A-1 Notes
(i) Class A-1 Notes Percentage 28.44%
(ii) Class A-1 Notes Balance $ 82,654,904.00
(iii) Class A-1 Notes Rate 5.7525%
(C) Class A-2 Notes
(i) Class A-2 Notes Percentage 41.29%
(ii) Class A-2 Notes Balance $120,000,000.00
(iii) Class A-2 Notes Rate 6.35%
(D) Class A-3 Notes
(i) Class A-3 Notes Percentage 26.27%
(ii) Class A-3 Notes Balance $ 76,343,707.00
(iii) Class A-3 Notes Rate 6.75%
(E) Class B Certificates
(i) Class B Certificates Percentage 4.00%
(ii) Class B Certificates Balance $ 11,624,943.00
(iii) Class B Certificates Rate 7.05%
(F) Servicing Fee Rate 1.00%
(G) Weighted Average Coupon (WAC) 9.53%
(H) Weighted Average Original Maturity (WAOM) 56.22 months
(I) Weighted Average Remaining Maturity (WAM) 49.45 months
(J) Number of Receivables 24,919
(K) Reserve Account
(i) Reserve Account Initial Deposit Percentage 2.00%
(ii) Reserve Account Initial Deposit $ 5,812,471.09
(iii) Specified Reserve Account Balance (K(iii)(c) if 1.25% loss and delinq
triggers hit - otherwise greater of K(iii)(a or b))
(a) Percent of Initial Pool Balance 2.00%
(b) Percent of Remaining Pool Balance 3.25%
(c) Trigger Percent of Remaining Pool Balance 6.00%
B. INPUTS FROM PREVIOUS MONTHLY SERVICER REPORTS
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(A) Total Portfolio Balance $ 68,690,609.46
(B) Total Note and Certificate Pool Factor 0.2363560
(C) Class A-1 Notes
(i) Class A-1 Notes Balance $ 0.00
(ii) Class A-1 Notes Pool Factor 0.0000000
(D) Class A-2 Notes
(i) Class A-2 Notes Balance $ 0.00
(ii) Class A-2 Notes Pool Factor 0.0000000
(E) Class A-3 Notes
(i) Class A-3 Notes Balance $ 57,065,666.46
(ii) Class A-3 Notes Pool Factor 0.7474836
(F) Class B Certificates
(i) Class B Certificates Balance $ 11,624,943.00
(ii) Class B Certificates Pool Factor 1.0000000
(G) Reserve Account Balance $ 4,121,436.57
(H) Cumulative Net Losses for All Prior Periods $ 5,126,699.77
(I) Net Loss Ratio for Second Preceding Period 2.58%
(J) Net Loss Ratio for Preceding Period 3.81%
(K) Delinquency Ratio for Second Preceding Period 2.31%
(L) Delinquency Ratio for Preceding Period 2.11%
(M) Weighted Average Coupon (WAC) 9.49%
(N) Weighted Average Remaining Maturity (WAM) 25.59 months
(O) Number of Receivables 11,093
C. INPUTS FROM THE MAINFRAME
- ----------------------------
(A) Simple Interest Receivables Principal
(i) Principal Collections $ 4,441,312.99
(ii) Not Used 0.00
(iii) Repurchased Loan Proceeds Related to Principal 0.00
(iv) Other Refunds Related to Principal 0.00
(B) Simple Interest Receivables Interest
(i) Interest Collections 508,259.07
(ii) Repurchased Loan Proceeds Related to Interest
(C) Weighted Average Coupon (WAC) 9.43%
(D) Weighted Average Remaining Maturity (WAM) 23.97 months
(E) Remaining Number of Receivables 10,640
(F) Delinquent Receivables
Dollar Amount # Units
------------- -------
(i) 30-59 Days Delinquent 2,110,240 3.30% 284 2.67%
(ii) 60-89 Days Delinquent 575,950 0.90% 73 0.69%
(iii) 90 Days or More Delinquent 536,155 0.84% 67 0.63%
(G) Repossessions
Dollar Amount # Units
------------- --------
266,543 0.42% 35 0.33%
D. INPUTS DERIVED FROM OTHER SOURCES
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(A) Reserve Account Investment Income $ 15,765.44
(B) Aggregate Net Losses before Liquidation Proceeds and Recoveries for
Collection Period (see note) 350,220.22
(C) Liquidated Receivables Information
(i) Not Used 0.00
(ii) Not Used 0.00
(iii) Recoveries on Previously Liquidated Contracts 44,025.35
(D) Aggregate Net Losses for Collection Period 306,194.87
(E) Actual Number of Days in Interest Period 29
I. COLLECTIONS
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Interest:
(A) Interest Collections $ 508,259.07
(B) Not Used 0.00
(C) Repurchased Loan Proceeds Related to Interest 0.00
(D) Recoveries from Prior Month Charge Offs 44,025.35
(E) Investment Earnings from the Reserve Account 15,765.44
(F) Total Interest Collections 568,049.86
Principal:
(G) Principal Payments Received $4,441,312.99
(H) Not Used 0.00
(I) Repurchased Loan Proceeds Related to Principal 0.00
(J) Other Refunds Related to Principal 0.00
(K) Total Principal Collections 4,441,312.99
(L) Total Collections $5,009,362.85
II. DISTRIBUTIONS
- ----------------- Per $1,000 of
Original Balance
-----------------
(A) Total Interest Collections $ 568,049.86
(B) Servicing Fee $ 57,242.17 0.20
Interest Per $1,000 of
(C) Class A-1 Notes Monthly Interest Original Balance
-----------------
(i) Class A-1 Notes Monthly Interest Due $ 0.00 0
(ii) Class A-1 Notes Monthly Interest Paid (after reserve fund draw) 0.00 0
-----------------
(iii) Class A-1 Notes Monthly Interest Shortfall (after reserve fund draw) $ 0.00 0
(D) Class A-2 Notes Monthly Interest
(i) Class A-2 Notes Monthly Interest Due $ 0.00 0
(ii) Class A-2 Notes Monthly Interest Paid (after reserve fund draw) 0.00 0
-----------------
(iii) Class A-2 Notes Monthly Interest Shortfall (after reserve fund draw) $ 0.00 0
(E) Class A-3 Notes Monthly Interest
(i) Class A-3 Notes Monthly Interest Due $ 320,994.37 4.204595067
(ii) Class A-3 Notes Monthly Interest Paid (after reserve fund draw) 320,994.37 4.204595067
-----------------
(iii) Class A-3 Notes Monthly Interest Shortfall (after reserve fund draw) $ 0.00 0
(F) Class B Certificates Monthly Interest
(i) Class B Certificates Monthly Interest Due $ 68,296.54 5.875
(ii) Class B Certificates Monthly Interest Paid (after reserve fund draw) 68,296.54 5.875
-----------------
(iii) Class B Certificates Monthly Interest Shortfall (after reserve fund draw) $ 0.00 0
(G) Total Note and Certificate Interest Paid (after reserve fund draw) $ 389,290.91
(H) Excess Interest $ 121,516.78
Principal
(I) Total Principal Collections $ 4,441,312.99
(J) Draw on Reserve Fund for realized losses 350,220.22
(K) Total Amount Available for Principal Distribution $ 4,791,533.21 Per $1,000 of
(L) Class A-1 Notes Monthly Principal Original Balance
----------------
(i) Class A-1 Notes Monthly Principal Due 0.00 0
(ii) Class A-1 Notes Monthly Principal Paid (after reserve fund draw) 0.00 0
-----------------
(iii) Class A-1 Notes Monthly Principal Shortfall (after reserve fund draw) 0.00 0
(M) Class A-2 Notes Monthly Principal
(i) Class A-2 Notes Monthly Principal Due 0.00 0
(ii) Class A-2 Notes Monthly Principal Paid (after reserve fund draw) 0.00 0
-----------------
(iii) Class A-2 Notes Monthly Principal Shortfall (after reserve fund draw) 0.00 0
(N) Class A-3 Notes Monthly Principal
(i) Class A-3 Notes Monthly Principal Due 4,791,533.21 62.76264801
(ii) Class A-3 Notes Monthly Principal Paid (after reserve fund draw) 4,791,533.21 62.76264801
-----------------
(iii) Class A-3 Notes Monthly Principal Shortfall (after reserve fund draw) 0.00 0
(O) Class B Certificates Monthly Principal
(i) Class B Certificates Monthly Principal Due 0.00 0
(ii) Class B Certificates Monthly Principal Paid (after reserve fund draw) 0.00 0
-----------------
(iii) Class B Certificates Monthly Principal Shortfall (after reserve fund draw) 0.00 0
(P) Total Note and Certificate Principal Paid 4,791,533.21
(Q) Total Distributions 5,238,066.29
(R) Excess Servicing Releases from Reserve Account to Servicer 58,788.55
(S) Amount of Draw from Reserve Account 350,220.22
(T) Draw from Reserve Account plus Total Available Amount 5,359,583.07
III. POOL BALANCES AND PORTFOLIO INFORMATION
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Beginning End
of Period of Period
--------- ---------
(A) Balances and Principal Factors
(i) Total Portfolio Balance $68,690,609.46 63,899,076.25
(ii) Total Note and Certificate Pool Factor 0.2363560 0.2198689
(iii) Class A-1 Notes Balance 0.00 0.00
(iv) Class A-1 Notes Pool Factor 0.0000000 0.0000000
(v) Class A-2 Notes Balance 0.00 0.00
(vi) Class A-2 Notes Pool Factor 0.0000000 0.0000000
(vii) Class A-3 Notes Balance 57,065,666.46 52,274,133.25
(viii) Class A-3 Notes Pool Factor 0.7474836 0.6847209
(ix) Class B Certificates Balance 11,624,943.00 11,624,943.00
(x) Class B Certificate Pool Factor 1.0000000 1.0000000
(B) Portfolio Information
(i) Weighted Average Coupon (WAC) 9.49% 9.43%
(ii) Weighted Average Remaining Maturity (WAM) 25.59 months 23.97 months
(iii) Remaining Number of Receivables 11,093 10,640
(iv) Portfolio Receivable Balance $68,690,609.46 63,899,076.25
IV. RECONCILIATION OF RESERVE ACCOUNT
- -----------------------------------------
(A) Beginning Reserve Account Balance $4,121,436.57
(B) Draw for Realized losses 350,220.22
(C) Draw for Servicing Fee 0.00
(D) Draw for Class A-1 Notes Interest Amount 0.00
(E) Draw for Class A-2 Notes Interest Amount 0.00
(F) Draw for Class A-3 Notes Interest Amount 0.00
(G) Draw for Class B Certificates Interest Amount 0.00
(H) Total Draw for Losses, Servicing, Notes and Certificates 350,220.22
(I) Excess Interest 121,516.78
(J) Reserve Account Balance Prior to Release 3,892,733.13
(K) Reserve Account Required Amount 3,833,944.58
(L) Final Reserve Account Required Amount 3,833,944.58
(M) Reserve Account Release to Servicer 58,788.55
(N) Ending Reserve Account Balance 3,833,944.58
V. NET LOSS AND DELINQUENCY ACCOUNT ACTIVITY
- --------------------------------------------
(A) Aggregate Net Losses before Liquidation Proceeds and Recoveries for
Collection Period $ 350,220.22
(B) Liquidated Contracts
(i) Not Used 0.00
(ii) Not Used 0.00
(iii) Recoveries on Previously Liquidated Contracts 44,025.35
(C) Aggregate Net Losses for Collection Period 306,194.87
(D) Net Loss Ratio for Collection Period (annualized) 5.54%
(E) Cumulative Net Losses for all Periods 5,432,894.64
(F) Delinquent Receivables
Dollar Amount # Units
------------- --------
(i) 30-59 Days Delinquent 2,110,240 3.30% 284 2.67%
(ii) 60-89 Days Delinquent 575,950 0.90% 73 0.69%
(iii) 90 Days or More Delinquent 536,155 0.84% 67 0.63%
(G) Repossessions
Dollar Amount # Units
------------- -------
266,543 0.42% 35 0.33%
VI. TESTS FOR INCREASE IN SPECIFIED RESERVE ACCOUNT BALANCE
- -------------------------------------------------------------------
(A) Ratio of Net Losses to the Average Pool Balance
(i) Second Preceding Collection Period 2.58%
(ii) Preceding Collection Period 3.81%
(iii) Current Collection Period 5.54%
(iv) Three Month Average (Avg(i,ii,iii)) 3.98%
(B) Ratio of Balance of Contracts Delinquent 60 Days or More to the
Outstanding Balance of Receivables.
(i) Second Preceding Collection Period 2.31%
(ii) Preceding Collection Period 2.11%
(iii) Current Collection Period 1.74%
(iv) Three Month Average (Avg(i,ii,iii)) 2.05%
(C) Loss and Delinquency Trigger Indicator Trigger was hit
<FN>
Note: Contemporaneous with the merger of NationsBank Corporation and BankAmerica
Corporation, NationsBank changed the timing of recognition of charge-offs on
delinquent automobile loans in order to standardize its policy. The effect
of this change is that delinquent automobile loans will be charged off at 120
days past due. Recoveries will be realized upon receipt of liquidation
proceeds. The estimated impact of this change is increased charge-offs of
approximately $98,000.00 in November 1998.
The undersigned officers of NationsBank, N.A., as servicer, pursuant to the Sale and
Servicing Agreement
hereby certify to the best of their knowledge and belief that the above information is
true and correct.
/s/ William Kinyua /s/ Suzanne W. Castleberry
- -------------------- -----------------------------
William Kinyua Suzanne W. Castleberry
Vice President Senior Vice President