First Union Residential Securitization Transac
Mortgage Pass-Through Certificates
Record Date: 09/30/1998
Distribution Date: 10/26/1998
FURST Series: 1998-A
Contact: Customer Service
Norwest Bank Minnesota, N.A.
Securities Administration Services
7485 New Horizon Way
Frederick, MD 21703
Telephone: (301) 846-8130
Fax: (301) 846-8152
Certificateholder Distribution Summary
Certificate Certificate Beginning
Class Pass-Through Certificate Interest Principal
Class CUSIP Description Rate Balance Distribution Distribution
SA-1 337403AK5 SEQ 7.00000% 44,476,017.57 259,443.44 1,341,631.43
SA-2 337403AL3 SEQ 6.90000% 68,143,648.77 391,825.98 2,055,572.10
SA-3 337403AM1 SEQ 7.00000% 9,700,000.00 56,583.33 0.00
SA-4 337403AN9 SEQ 7.00000% 15,138,319.48 88,306.86 23,591.00
SA-5 337403AP4 IO 7.00000% 0.00 5,678.64 0.00
SA-X 337403AQ2 IO 0.57184% 0.00 68,971.56 0.00
A-1 337403AR0 SEQ 6.87000% 112,752,661.15 645,508.99 3,271,468.56
A-2 337403AS8 SEQ 7.00000% 19,168,000.00 111,813.33 0.00
A-3 337403AT6 SEQ 7.00000% 18,130,000.00 105,758.33 0.00
A-4 337403AU3 SEQ 7.00000% 9,500,000.00 55,416.67 0.00
A-5 337403AV1 SEQ 7.00000% 2,700,000.00 15,750.00 0.00
A-6 337403AW9 IO 7.00000% 0.00 12,214.87 0.00
A-7 337403AX7 SEQ 7.50000% 2,500,000.00 15,625.00 0.00
AX 337403AY5 IO 0.47360% 0.00 68,332.49 0.00
R-I 337403BF5 R 7.00000% 0.00 0.00 0.00
R-II 337403BG3 R 7.00000% 0.00 0.00 0.00
M 337403AZ2 MEZ 7.00000% 7,660,133.72 44,684.11 8,745.03
B-1 337403BA6 SUB 7.00000% 2,959,596.69 17,264.31 3,378.76
B-2 337403BB4 SUB 7.00000% 2,089,127.02 12,186.57 2,385.01
B-3 337403BC2 SUB 7.00000% 1,218,657.34 7,108.83 1,391.25
B-4 337403BD0 SUB 7.00000% 696,375.34 4,062.19 795.00
B-5 337403BE8 SUB 7.00000% 1,044,565.31 6,093.30 1,192.51
Totals 317,877,102.39 1,992,628.80 6,710,150.65
Certificateholder Distribution Summary (continued)
Current Ending Cumulative
Realized Certificate Total Realized
Class Loss Balance Distribution Losses
SA-1 0.00 43,134,386.14 1,601,074.87 0.00
SA-2 0.00 66,088,076.67 2,447,398.08 0.00
SA-3 0.00 9,700,000.00 56,583.33 0.00
SA-4 0.00 15,114,728.49 111,897.86 0.00
SA-5 0.00 0.00 5,678.64 0.00
SA-X 0.00 0.00 68,971.56 0.00
A-1 0.00 109,481,192.59 3,916,977.55 0.00
A-2 0.00 19,168,000.00 111,813.33 0.00
A-3 0.00 18,130,000.00 105,758.33 0.00
A-4 0.00 9,500,000.00 55,416.67 0.00
A-5 0.00 2,700,000.00 15,750.00 0.00
A-6 0.00 0.00 12,214.87 0.00
A-7 0.00 2,500,000.00 15,625.00 0.00
AX 0.00 0.00 68,332.49 0.00
R-I 0.00 0.00 0.00 0.00
R-II 0.00 0.00 0.00 0.00
M 0.00 7,651,388.69 53,429.14 0.00
B-1 0.00 2,956,217.93 20,643.07 0.00
B-2 0.00 2,086,742.01 14,571.58 0.00
B-3 0.00 1,217,266.09 8,500.08 0.00
B-4 0.00 695,580.34 4,857.19 0.00
B-5 0.00 1,043,372.80 7,285.81 0.00
Totals 0.00 311,166,951.75 8,702,779.45 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>
Principal Distribution Statement
Original Beginning Scheduled Unscheduled
Face Certificate Principal Principal Realized
Class Amount Balance Distribution Distribution Accretion Loss (1)
SA-1 51,614,813.00 44,476,017.57 84,012.67 1,257,618.75 0.00 0.00
SA-2 79,081,309.00 68,143,648.77 128,719.49 1,926,852.61 0.00 0.00
SA-3 9,700,000.00 9,700,000.00 0.00 0.00 0.00 0.00
SA-4 15,253,691.00 15,138,319.48 1,477.26 22,113.73 0.00 0.00
SA-5 0.00 0.00 0.00 0.00 0.00 0.00
SA-X 0.00 0.00 0.00 0.00 0.00 0.00
A-1 126,652,919.00 112,752,661.15 128,517.32 3,142,951.24 0.00 0.00
A-2 19,168,000.00 19,168,000.00 0.00 0.00 0.00 0.00
A-3 18,130,000.00 18,130,000.00 0.00 0.00 0.00 0.00
A-4 9,500,000.00 9,500,000.00 0.00 0.00 0.00 0.00
A-5 2,700,000.00 2,700,000.00 0.00 0.00 0.00 0.00
A-6 0.00 0.00 0.00 0.00 0.00 0.00
A-7 2,500,000.00 2,500,000.00 0.00 0.00 0.00 0.00
AX 0.00 0.00 0.00 0.00 0.00 0.00
R-I 50.00 0.00 0.00 0.00 0.00 0.00
R-II 50.00 0.00 0.00 0.00 0.00 0.00
M 7,701,171.00 7,660,133.72 8,745.03 0.00 0.00 0.00
B-1 2,975,452.00 2,959,596.69 3,378.76 0.00 0.00 0.00
B-2 2,100,319.00 2,089,127.02 2,385.01 0.00 0.00 0.00
B-3 1,225,186.00 1,218,657.34 1,391.25 0.00 0.00 0.00
B-4 700,106.00 696,375.34 795.00 0.00 0.00 0.00
B-5 1,050,161.64 1,044,565.31 1,192.51 0.00 0.00 0.00
Totals 350,053,227.64 317,877,102.39 360,614.30 6,349,536.33 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>
Principal Distribution Statement (continued)
Total Ending Ending Total
Principal Certificate Certificate Principal
Class Reduction Balance Percentage Distribution
SA-1 1,341,631.43 43,134,386.14 0.83569781 1,341,631.43
SA-2 2,055,572.10 66,088,076.67 0.83569781 2,055,572.10
SA-3 0.00 9,700,000.00 1.00000000 0.00
SA-4 23,591.00 15,114,728.49 0.99088991 23,591.00
SA-5 0.00 0.00 0.00000000 0.00
SA-X 0.00 0.00 0.00000000 0.00
A-1 3,271,468.56 109,481,192.59 0.86441902 3,271,468.56
A-2 0.00 19,168,000.00 1.00000000 0.00
A-3 0.00 18,130,000.00 1.00000000 0.00
A-4 0.00 9,500,000.00 1.00000000 0.00
A-5 0.00 2,700,000.00 1.00000000 0.00
A-6 0.00 0.00 0.00000000 0.00
A-7 0.00 2,500,000.00 1.00000000 0.00
AX 0.00 0.00 0.00000000 0.00
R-I 0.00 0.00 0.00000000 0.00
R-II 0.00 0.00 0.00000000 0.00
M 8,745.03 7,651,388.69 0.99353575 8,745.03
B-1 3,378.76 2,956,217.93 0.99353575 3,378.76
B-2 2,385.01 2,086,742.01 0.99353575 2,385.01
B-3 1,391.25 1,217,266.09 0.99353575 1,391.25
B-4 795.00 695,580.34 0.99353575 795.00
B-5 1,192.51 1,043,372.80 0.99353543 1,192.51
Totals 6,710,150.65 311,166,951.75 0.88891325 6,710,150.65
Principal Distribution Factors Statement
Original Beginning Scheduled Unscheduled
Face Certificate Principal Principal
Class (2) Amount Balance Distribution Distribution Accretion
SA-1 51,614,813.00 861.69095624 1.62768525 24.36546171 0.00000000
SA-2 79,081,309.00 861.69095620 1.62768537 24.36546176 0.00000000
SA-3 9,700,000.00 1000.00000000 0.00000000 0.00000000 0.00000000
SA-4 15,253,691.00 992.43648504 0.09684607 1.44972977 0.00000000
SA-5 0.00 0.00000000 0.00000000 0.00000000 0.00000000
SA-X 0.00 0.00000000 0.00000000 0.00000000 0.00000000
A-1 126,652,919.00 890.24921052 1.01472055 24.81546627 0.00000000
A-2 19,168,000.00 1000.00000000 0.00000000 0.00000000 0.00000000
A-3 18,130,000.00 1000.00000000 0.00000000 0.00000000 0.00000000
A-4 9,500,000.00 1000.00000000 0.00000000 0.00000000 0.00000000
A-5 2,700,000.00 1000.00000000 0.00000000 0.00000000 0.00000000
A-6 0.00 0.00000000 0.00000000 0.00000000 0.00000000
A-7 2,500,000.00 1000.00000000 0.00000000 0.00000000 0.00000000
AX 0.00 0.00000000 0.00000000 0.00000000 0.00000000
R-I 50.00 0.00000000 0.00000000 0.00000000 0.00000000
R-II 50.00 0.00000000 0.00000000 0.00000000 0.00000000
M 7,701,171.00 994.67129350 1.13554549 0.00000000 0.00000000
B-1 2,975,452.00 994.67129364 1.13554512 0.00000000 0.00000000
B-2 2,100,319.00 994.67129517 1.13554655 0.00000000 0.00000000
B-3 1,225,186.00 994.67129073 1.13554187 0.00000000 0.00000000
B-4 700,106.00 994.67129263 1.13554233 0.00000000 0.00000000
B-5 1,050,161.64 994.67098227 1.13554900 0.00000000 0.00000000
<FN>
(2) per $1000 denomination
</FN>
Principal Distribution Factors Statement (continued)
Total Ending Ending Total
Realized Principal Certificate Certificate Principal
Class Loss (3) Reduction Balance Percentage Distribution
SA-1 0.00000000 25.99314716 835.69780908 0.83569781 25.99314716
SA-2 0.00000000 25.99314713 835.69780907 0.83569781 25.99314713
SA-3 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000
SA-4 0.00000000 1.54657650 990.88990920 0.99088991 1.54657650
SA-5 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000
SA-X 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000
A-1 0.00000000 25.83018683 864.41902369 0.86441902 25.83018683
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-4 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000
A-5 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000
A-6 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000
A-7 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000
AX 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000
R-I 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000
R-II 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000
M 0.00000000 1.13554549 993.53574801 0.99353575 1.13554549
B-1 0.00000000 1.13554512 993.53574852 0.99353575 1.13554512
B-2 0.00000000 1.13554655 993.53574862 0.99353575 1.13554655
B-3 0.00000000 1.13554187 993.53574886 0.99353575 1.13554187
B-4 0.00000000 1.13554233 993.53575030 0.99353575 1.13554233
B-5 0.00000000 1.13554900 993.53543327 0.99353543 1.13554900
<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>
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
SA-1 51,614,813.00 7.00000% 44,476,017.57 259,443.44 0.00 0.00
SA-2 79,081,309.00 6.90000% 68,143,648.77 391,825.98 0.00 0.00
SA-3 9,700,000.00 7.00000% 9,700,000.00 56,583.33 0.00 0.00
SA-4 15,253,691.00 7.00000% 15,138,319.48 88,306.86 0.00 0.00
SA-5 0.00 7.00000% 973,480.70 5,678.64 0.00 0.00
SA-X 0.00 0.57184% 144,736,800.70 68,971.56 0.00 0.00
A-1 126,652,919.00 6.87000% 112,752,661.15 645,508.99 0.00 0.00
A-2 19,168,000.00 7.00000% 19,168,000.00 111,813.33 0.00 0.00
A-3 18,130,000.00 7.00000% 18,130,000.00 105,758.33 0.00 0.00
A-4 9,500,000.00 7.00000% 9,500,000.00 55,416.67 0.00 0.00
A-5 2,700,000.00 7.00000% 2,700,000.00 15,750.00 0.00 0.00
A-6 0.00 7.00000% 2,093,977.99 12,214.87 0.00 0.00
A-7 2,500,000.00 7.50000% 2,500,000.00 15,625.00 0.00 0.00
AX 0.00 0.47360% 173,140,301.68 68,332.49 0.00 0.00
R-I 50.00 7.00000% 0.00 0.00 0.00 0.00
R-II 50.00 7.00000% 0.00 0.00 0.00 0.00
M 7,701,171.00 7.00000% 7,660,133.72 44,684.11 0.00 0.00
B-1 2,975,452.00 7.00000% 2,959,596.69 17,264.31 0.00 0.00
B-2 2,100,319.00 7.00000% 2,089,127.02 12,186.57 0.00 0.00
B-3 1,225,186.00 7.00000% 1,218,657.34 7,108.83 0.00 0.00
B-4 700,106.00 7.00000% 696,375.34 4,062.19 0.00 0.00
B-5 1,050,161.64 7.00000% 1,044,565.31 6,093.30 0.00 0.00
Totals 350,053,227.64 1,992,628.80 0.00 0.00
Interest Distribution Statement (continued)
Remaining Ending
Non-Supported Total Unpaid Certificate/
Interest Realized Interest Interest Notional
Class Shortfall Losses (4) Distribution Shortfall Balance
SA-1 0.00 0.00 259,443.44 0.00 43,134,386.14
SA-2 0.00 0.00 391,825.98 0.00 66,088,076.67
SA-3 0.00 0.00 56,583.33 0.00 9,700,000.00
SA-4 0.00 0.00 88,306.86 0.00 15,114,728.49
SA-5 0.00 0.00 5,678.64 0.00 944,115.38
SA-X 0.00 0.00 68,971.56 0.00 141,304,663.14
A-1 0.00 0.00 645,508.99 0.00 109,481,192.59
A-2 0.00 0.00 111,813.33 0.00 19,168,000.00
A-3 0.00 0.00 105,758.33 0.00 18,130,000.00
A-4 0.00 0.00 55,416.67 0.00 9,500,000.00
A-5 0.00 0.00 15,750.00 0.00 2,700,000.00
A-6 0.00 0.00 12,214.87 0.00 2,033,222.15
A-7 0.00 0.00 15,625.00 0.00 2,500,000.00
AX 0.00 0.00 68,332.49 0.00 169,862,288.60
R-I 0.00 0.00 0.00 0.00 0.00
R-II 0.00 0.00 0.00 0.00 0.00
M 0.00 0.00 44,684.11 0.00 7,651,388.69
B-1 0.00 0.00 17,264.31 0.00 2,956,217.93
B-2 0.00 0.00 12,186.57 0.00 2,086,742.01
B-3 0.00 0.00 7,108.83 0.00 1,217,266.09
B-4 0.00 0.00 4,062.19 0.00 695,580.34
B-5 0.00 0.00 6,093.30 0.00 1,043,372.80
Totals 0.00 0.00 1,992,628.80 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>
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
SA-1 51,614,813.00 7.00000% 861.69095624 5.02653066 0.00000000 0.00000000
SA-2 79,081,309.00 6.90000% 861.69095620 4.95472299 0.00000000 0.00000000
SA-3 9,700,000.00 7.00000% 1000.00000000 5.83333299 0.00000000 0.00000000
SA-4 15,253,691.00 7.00000% 992.43648504 5.78921259 0.00000000 0.00000000
SA-5 0.00 7.00000% 861.69095584 5.02653286 0.00000000 0.00000000
SA-X 0.00 0.57184% 888.04190786 0.42317942 0.00000000 0.00000000
A-1 126,652,919.00 6.87000% 890.24921052 5.09667677 0.00000000 0.00000000
A-2 19,168,000.00 7.00000% 1000.00000000 5.83333316 0.00000000 0.00000000
A-3 18,130,000.00 7.00000% 1000.00000000 5.83333315 0.00000000 0.00000000
A-4 9,500,000.00 7.00000% 1000.00000000 5.83333368 0.00000000 0.00000000
A-5 2,700,000.00 7.00000% 1000.00000000 5.83333333 0.00000000 0.00000000
A-6 0.00 7.00000% 890.24920880 5.19311970 0.00000000 0.00000000
A-7 2,500,000.00 7.50000% 1000.00000000 6.25000000 0.00000000 0.00000000
AX 0.00 0.47360% 925.54232349 0.36527955 0.00000000 0.00000000
R-I 50.00 7.00000% 0.00000000 0.00000000 0.00000000 0.00000000
R-II 50.00 7.00000% 0.00000000 0.00000000 0.00000000 0.00000000
M 7,701,171.00 7.00000% 994.67129350 5.80224877 0.00000000 0.00000000
B-1 2,975,452.00 7.00000% 994.67129364 5.80224786 0.00000000 0.00000000
B-2 2,100,319.00 7.00000% 994.67129517 5.80224718 0.00000000 0.00000000
B-3 1,225,186.00 7.00000% 994.67129073 5.80224554 0.00000000 0.00000000
B-4 700,106.00 7.00000% 994.67129263 5.80224995 0.00000000 0.00000000
B-5 1,050,161.64 7.00000% 994.67098227 5.80224964 0.00000000 0.00000000
<FN>
(5) per $1000 denomination
</FN>
Interest Distribution Factors Statement (continued)
Remaining Ending
Non-Supported Total Unpaid Certificate/
Interest Realized Interest Interest Notional
Class Shortfall Losses (6) Distribution Shortfall Balance
SA-1 0.00000000 0.00000000 5.02653066 0.00000000 835.69780908
SA-2 0.00000000 0.00000000 4.95472299 0.00000000 835.69780907
SA-3 0.00000000 0.00000000 5.83333299 0.00000000 1000.00000000
SA-4 0.00000000 0.00000000 5.78921259 0.00000000 990.88990920
SA-5 0.00000000 0.00000000 5.02653286 0.00000000 835.69780502
SA-X 0.00000000 0.00000000 0.42317942 0.00000000 866.98380811
A-1 0.00000000 0.00000000 5.09667677 0.00000000 864.41902369
A-2 0.00000000 0.00000000 5.83333316 0.00000000 1000.00000000
A-3 0.00000000 0.00000000 5.83333315 0.00000000 1000.00000000
A-4 0.00000000 0.00000000 5.83333368 0.00000000 1000.00000000
A-5 0.00000000 0.00000000 5.83333333 0.00000000 1000.00000000
A-6 0.00000000 0.00000000 5.19311970 0.00000000 864.41902398
A-7 0.00000000 0.00000000 6.25000000 0.00000000 1000.00000000
AX 0.00000000 0.00000000 0.36527955 0.00000000 908.01930999
R-I 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000
R-II 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000
M 0.00000000 0.00000000 5.80224877 0.00000000 993.53574801
B-1 0.00000000 0.00000000 5.80224786 0.00000000 993.53574852
B-2 0.00000000 0.00000000 5.80224718 0.00000000 993.53574862
B-3 0.00000000 0.00000000 5.80224554 0.00000000 993.53574886
B-4 0.00000000 0.00000000 5.80224995 0.00000000 993.53575030
B-5 0.00000000 0.00000000 5.80224964 0.00000000 993.53543327
<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>
CERTIFICATE ACCOUNT
Beginning Balance 0.00
Deposits
Payments of Interest and Principal 8,797,833.97
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 8,797,833.97
Withdrawals
Reimbursement for Servicer Advances 0.00
Payment of Service Fee 96,096.18
Payment of Interest and Principal 8,701,737.79
Total Withdrawals (Pool Distribution Amount) 8,797,833.97
Ending Balance 0.00
PREPAYMENT/CURTAILMENT INTEREST SHORTFALL
Total Prepayment/Curtailment Interest Shortfall 0.00
Servicing Fee Support 0.00
Non-Supported Prepayment/Curtailment Interest Shortfall 0.00
SERVICING FEES
Gross Servicing Fee 93,347.65
Trustee Fee 2,648.97
Spread 1 Fee 99.55
Supported Prepayment/Curtailment Interest Shortfall 0.00
Net Servicing Fee 96,096.18
OTHER ACCOUNTS
Beginning Current Current Ending
Account Type Balance Withdrawals Deposits Balance
Capitalized Interest Account 0.00 0.00 0.00 0.00
Prefunding Account 0.00 0.00 0.00 0.00
A7 Interest Reserve Account 7,291.69 1,041.64 0.00 6,250.05
DELINQUENCY STATUS
Percentage Delinquent
Based On
Current Unpaid
Number Principal Number Unpaid
Of Loans Balance Of Loans Balance
30 Days 9 2,203,964.00 0.924025% 0.708290%
60 Days 1 239,032.00 0.102669% 0.076818%
90+ Days 1 246,557.00 0.102669% 0.079236%
Foreclosure 0 0.00 0.000000% 0.000000%
REO 0 0.00 0.000000% 0.000000%
Totals 11 2,689,553.00 1.129363% 0.864344%
OTHER INFORMATION
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 2,134,380.43
SUBORDINATION LEVEL/CLASS PERCENTAGE AND PREPAYMENT PERCENTAGE
Current Next
Original $ Original % Current $ Current % Class% Prepayment%
Class M 8,051,224.64 2.30000012% 7,999,179.17 2.57070332% 2.458934% 48.888889%
Class B-1 5,075,772.64 1.45000024% 5,042,961.24 1.62066094% 0.950042% 18.888886%
Class B-2 2,975,453.64 0.85000034% 2,956,219.23 0.95004280% 0.670618% 13.333331%
Class B-3 1,750,267.64 0.50000043% 1,738,953.14 0.55884892% 0.391194% 7.777776%
Class B-4 1,050,161.64 0.30000056% 1,043,372.80 0.33530964% 0.223539% 4.444442%
Class B-5 0.00 0.00000000% 0.00 0.00000000% 0.335310% 6.666677%
<FN>
Please Refer to the Prospectus Supplement for a Full Description of Loss Exposure
</FN>
CREDIT ENHANCEMENT
Original $ Original % Current $ Current %
Bankruptcy 100,000.00 0.02856708% 100,000.00 0.03213709%
Fraud 3,500,532.00 0.99999992% 3,500,532.00 1.12496908%
Special Hazard 2,941,436.00 0.84028250% 2,941,436.00 0.94529190%
<FN>
Limit of Subordinate's Exposure to Certain Types of Losses
</FN>
COLLATERAL STATEMENT
Collateral Description Fixed 30 Year
Weighted Average Gross Coupon 7.881096%
Weighted AverageNet Coupon 7.518329%
Weighted Average Pass-Through Rate 7.000000%
Weighted Average Maturity(Stepdown Calculation ) 296
Begin Scheduled Collateral Loan Count 995
Number Of Loans Paid In Full 21
End Scheduled Collateral Loan Count 974
Begining Scheduled Collateral Balance 317,877,102.38
Ending Scheduled Collateral Balance 311,166,951.74
Ending Actual Collateral Balance at 30-Sep-1998 311,489,607.81
Monthly P &I Constant 2,448,297.63
Class A Optimal Amount 8,593,492.58
Ending Scheduled Balance for Premium Loans 311,166,951.74
Unpaid Principal Balance Of Outstanding Mortgage Loans
With Original LTV:
Less Than Or Equal To 80% 265,469,522.23
Greater Than 80%, less than or equal to 85% 10,510,841.81
Greater than 85%, less than or equal to 95% 32,107,996.25
Greater than 95% 3,401,247.52
Group Level Collateral Statement
Group ID 1 2
Collateral Description Fixed 30 Year Fixed 30 Year
Weighted Average Coupon Rate 7.955166 7.819177
Weighted Average Net Rate 7.571837 7.473599
Weighted Average Maturity 262.00 335.00
Begining Loan Count 510.00 485.00
Loans Paid In Full 11.00 10.00
Ending Loan Count 499.00 475.00
Begining Scheduled Balance 144,736,800.70 173,140.301.68
Ending Scheduled Balance 141,304,663.14 169,862,288.60
Record Date 09/30/98 09/30/98
Principal And Interest Constant 1,185,056.84 1,263,240.79
Scheduled Principal 225,552.46 135,061.84
Unscheduled Principal 3,206,585.10 3,142,951.24
Scheduled Interest 959,504.38 1,128,178.95
Servicing Fee 45,028.67 48,318.97
Trustee Fee 1,206.14 1,442.84
Net Interest 913,269.57 1,078,317.59
Pool Insurance Fee 0.00 0.00
Spread 1 0.00 99.55
Delinquency Status By Groups
Groups 30 Days 60 Days 90 + Days
Number Balance Number Balance Number Balance
1 5 1,131,378.50 1 239,032.62 0 0.00 0
2 5 1,331,638.62 1 285,681.39 2 600,733.31 0
Total 10 $2,463,017.12 2 $524,714.01 2 $600,733.31 0