SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 10-K/A
Amendment No. 1
(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, 1996
| | TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934
Commission File No.: 333-03574-01
First Union Residential Securitization Transactions, Inc.,
Home Equity Loan Asset-Backed Certificates, Series 1996-1 Trust
(Exact name of registrant as specified in its charter)
North Carolina (governing law of pooling and servicing agreement)
State or other jurisdiction of incorporation or organization)
52-1996088
(I.R.S. Employer Identification No.)
c/o Norwest Bank Minnesota, N.A.
7485 New Horizon Way
Frederick, MD 21703
(Address of principal executive (Zip Code)
offices)
Registrant's telephone number, including area code (301)696-7900
Securities registered pursuant to Section 12(b) of the Act: NONE
Securities 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
This Amendment No. 1 on Form 10-K/A amends Item 14 of the original Annual
Report on Form 10-K (the "Original Form 10-K") filed on March 28, 1997, by
Norwest Bank Minnesota, N.A. (the "Reporting Person"), on behalf of First Union
Residential Securitization Transactions, Inc., Home Equity Loan Asset-Backed
Certificates, Series 1996-1 Trust (the "Trust"), established pursuant to a
Pooling and Servicing Agreement (the "Pooling and Servicing Agreement") among
Norwest Asset Securities Corporation, (the "Company"), as depositor, a trustee
and a master servicer (or, if applicable, a servicer) and in some instances, a
certificate administrator, pursuant to which the First Union Residential
Securitization Transactions, Inc., Home Equity Loan Asset-Backed Certificates,
Series 1996-1 registered under the Securities Act of 1933 (the "Certificates")
were issued. Item 14 of the Original Form 10-K is amended to read in its
entirety as follows:
Item 14. Exhibits, Financial Statement Schedules, and Reports on Form 8-K.
(a) Exhibits
In accordance with the no action letter from the Office of Chief
Counsel of the Division of Corporate Finance, Securities and Exchange
Commission dated December 17, 1996 (the "No Action Letter"), the
following exhibits are or will be provided:
99.1 Annual Independent Accountants' Servicing Reports concerning
servicing activities under the Pooling and Servicing Agreements
for the year ended December 31, 1996, in accordance with the
Exemption Request.
(a) First Union National Bank of North Carolina, as
Servicer and Master Servicer<F1>
99.2 Report of Management as to Compliance with Minimum Servicing
Standards for the year ended December 31, 1996, in accordance
with the Exemption Request.
(a) First Union National Bank of North Carolina, as
Servicer and Master Servicer<F1>
99.3 Annual Statements of Compliance under the Pooling and Servicing
Agreements for the year ended December 31, 1996, in accordance
with the Exemption Request.
(a) First Union National Bank of North Carolina, as
Servicer and Master Servicer<F1>
99.4 Aggregate Statement of Principal and Interest Distributions to
Certificate Holders.<F2>
(b) On October 8, 1996, November 4, 1996, and December 3, 1996, 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 pursuant to the Exemption request.
<F1> Filed herewith.
<F2> Previously filed.
SIGNATURE
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.
HOME EQUITY LOAN ASSET-BACKED CERTIFICATES, SERIES 1996-1 TRUST
By: NORWEST BANK MINNESOTA, N.A.,
as Trustee
By: /s/Sherri J. Sharps
By: Sherri J. Sharps
Title: Vice President -- Securities Administration Services
Dated: September 5, 1997
EXHIBIT INDEX
Exhibit No.
99.1 Annual Independent Accountants' Servicing Reports concerning servicing
activities under the Pooling and Servicing Agreements for the year ended
December 31, 1996, in accordance with the Exemption Request.
(a) First Union National Bank of North Carolina, as Servicer and Master
Servicer<F1>
99.2 Report of Management as to Compliance with Minimum Servicing Standards for
the year ended December 31, 1996, in accordance with the Exemption Request.
(a) First Union National Bank of North Carolina, as Servicer and Master
Servicer<F1>
99.3 Annual Statements of Compliance under the Pooling and Servicing Agreements
for the year ended December 31, 1996, in accordance with the Exemption
Request.
(a) First Union National Bank of North Carolina, as Servicer and Master
Servicer<F1>
99.4 Aggregate Statement of Principal and Interest Distributions to Certificate
Holders.<F2>
<F1> Filed herewith.
<F2> Previously filed.