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) August 20, 1996
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FIRST UNION RESIDENTIAL SECURITIZATION TRANSACTIONS, INC.
Exact Name of Registrant as Specified in Its Charter)
North Carolina 333-3574 56-1967773
(State or Other Jurisdiction (Commission (IRS Employer
of Incorporation) File Number) Identification No.)
One First Union Center, 301 South College Street, Charlotte, North Carolina 28202
(Address of Principal Executive Offices) (ZIP Code)
(704) 383-3624
(Registrant's Telephone Number, Including Area Code)
N/A
(Former Name or Former Address, if Changed Since Last Report)
Item 5. Other Events.
On or about August 28, 1996, the Registrant will cause the issuance and
sale of approximately $157,259,000 initial principal amount of Home Equity Loan
Asset-Backed Certificates, Series 1996-1, Class A-1, Class A-2, Class A-3, Class
A-4, Class A-5, Class B and Class R (collectively, the "Certificates") pursuant
to a Pooling and Servicing agreement to be dated as of August 1, 1996, among the
Registrant, First Union National Bank of North Carolina, as seller and master
servicer, First Union National Bank of North Carolina, Trust Department, as
document custodian, and Norwest Bank Minnesota, National Association, as
trustee.
In connection with the sale of the Series 1996-1, Class A-1, Class A-2,
Class A-3, Class A-4 and Class A-5 Certificates (collectively, the "Underwritten
Certificates"), the Registrant has been advised by Lehman Brothers Inc.
("Lehman"), a Co-Underwriter with First Union Capital Markets Corp., that Lehman
has furnished to prospective investors certain material describing certain
characteristics of the Underwritten Certificates (the "Structural Terms Sheet")
following the effective date of Registration Statement No. 333-3974, which
Structural Terms Sheet is being filed as an exhibit to this report.
The Structural Terms Sheet has been provided to the Registrant by
Lehman. The information in the Structural Terms Sheet is preliminary and may be
superseded by the final Prospectus Supplement relating to the Certificates and
by any other information subsequently filed with the Securities and Exchange
Commission.
Item 7. Financial Statements, Pro Forma Financial Information and Exhibits.
(a) FINANCIAL STATEMENTS.
Not applicable.
(b) PRO FORMA FINANCIAL INFORMATION
Not applicable
(c) EXHIBITS
EXHIBIT NO. DESCRIPTION
99 Structural Terms Sheet
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SIGNATURES
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.
FIRST UNION RESIDENTIAL SECURITIZATION
TRANSACTIONS, INC.
(Registrant)
By: /s/ Patrick J. Tadie
Name: Patrick J. Tadie
Title: Vice President
Date: August 26, 1996
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EXHIBIT INDEX
SEQUENTIALLY
EXHIBIT NO. DESCRIPTION NUMBERED PAGE
99 Structural Terms Sheet