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) : May 24, 1996

      NationsLink Funding Corporation, (as depositor under the Pooling and
      Servicing Agreement, dated as of May 1, 1996 caused the issue of
      NationsLink Funding Corporation Commercial Mortgage Pass-Through
      Certificates, Series 1996-1
                    
                         NationsLink Funding Corporation
             (Exact name of registrant as specified in its charter)


           Delaware                       33-80625                  56-1950039
(State or other jurisdiction       (Commission File Number)       (IRS Employer
of incorporation or organization)                            Identification No.)

100 North Tryon Street,
Charlotte, North Carolina                                                28255
(Address of principal executive offices)                             (Zip Code)


       Registrant's telephone number, including area code : (704) 386-5000

                                       N/A
         (Former name or former address, if changed since last report.)



                     Page 1 of 4                     This report consists of 12
                                                   consecutively numbered pages.



<PAGE>







                                                   

Item 5.    Other Events.
- -------    -------------


           On June 20, 1996, and July 20, 1996,  distributions  were made to the
            Certificateholders.   Specific   information  with  respect  to  the
            distributions is filed as Exhibits 99.1, and 99.2.

           No other reportable  transactions or matters have occurred during the
            current reporting period.


Item 7.    Financial Statements and Exhibits.
- -------    ----------------------------------

           (c)   The following exhibits are filed as part of this report:

                 Statement to Certificateholders  on June  20,  1996  filed as
                  Exhibit 99.1 hereto.

                 Statement  to  Certificateholders  on July  20,  1996  filed as
                  Exhibit 99.2 hereto.

                                       2
<PAGE>






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.

                                                    NATIONSLINK FUNDING
                                                    CORPORATION COMMERCIAL 
                                                    MORTGAGE PASS-THROUGH
                                                    CERTIFICATES SERIES 1996-1



Date:    August 27, 1996                    By:      /s/ James E. Naumann
                                                    ---------------------
                                                    James E. Naumann
                                                    Senior Vice President & CFO



                                       3
<PAGE>


INDEX TO EXHIBITS
- -----------------


      Exhibit
      Number                   Description of Exhibits                Page
      ------             --------------------------------------       ----


        99.1             Monthly Certificateholder Statement on        5
                         June 20, 1996.

        99.2             Monthly Certificateholder Statement on        9
                         July 20, 1996.


                                       4
<PAGE>







                                  Exhibit 99.1

              Monthly Certificateholder Statement on June 20, 1996

                                       5
<PAGE>

<TABLE>
                    
DIST. DATE:  6/20/96
REC. DATE:   5/31/96   
                        NationasLink Funding Corporation
                 Commercial Mortgage Pass-Through Certificates
                                  Series 1996-1

                       Monthly Certificate Holders Report

<CAPTION>

 CLAS CUSIP        BEG. BALANCE     PRIN. DIST.      INT. DIST.      PREP PENAL    COLL DEFICIT      TOTAL DIST    END BALANCE
 <S>  <C>        <C>                <C>            <C>                     <C>           <C>       <C>           <C>         
 A-1  63859CAA1   70,980,719.00      268,308.31      445,581.46            0.00            0.00      713,889.77   70,712,410.69
 A-2  63859CAB9   96,791,890.00            0.00      606,159.21            0.00            0.00      606,159.21   96,791,890.00
 A-3  63859CAC7   51,622,341.00            0.00      336,835.78            0.00            0.00      336,835.78   51,622,341.00
 B    63859CAD5   16,131,981.00            0.00      103,379.11            0.00            0.00      103,379.11   16,131,981.00
 C    63859CAE3   19,358,378.00            0.00      124,054.94             N/A            0.00      124,054.94   19,358,378.00
 D    63589CAF0   17,745,179.00            0.00      113,717.02             N/A            0.00      113,717.02   17,745,179.00
 E    63859CAG8   14,518,783.00            0.00       93,041.20             N/A            0.00       93,041.20   14,518,783.00
 F    63859CAH6   10,485,788.00            0.00       64,225.45             N/A            0.00       64,225.45   10,485,788.00
 G    63859CAJ2    5,646,193.00            0.00       34,582.93             N/A            0.00       34,582.93    5,646,193.00
 H    63859CAK9    9,679,189.00            0.00       59,285.03             N/A            0.00       59,285.03    9,679,189.00
 IO   63859CAM5  322,607,371.69            0.00      141,482.15            0.00            0.00      141,482.15  322,339,089.47
 R                         0.00            0.00           79.53             N/A            0.00           79.53            0.00
 UR   63859CAL7    9,679,194.58            0.00       54,848.77             N/A            0.00       54,848.77    9,679,194.58


   TOTAL:        322,639,635.58      268,308.31    2,177,272.58            0.00            0.00    2,445,580.89  322,371,327.27


                                       6
<PAGE>
 
DIST. DATE:  6/20/96         
REC. DATE:   5/31/96         
                                       1
                     NationasLink Funding Corporation Page 2
                  Commercial Mortgage Pass-Through Certificates
     
                                  Series 1996-1

                       Monthly Certificate Holders Report



 CLAS CUSIP         ACCR INT       APPR RED AMT    UNPAID INT     PRIN FACTOR     INT FACTOR  E. BAL FACTOR  CURR RATE NEXT RATE

 A-1  63859CA     445,581.46               0.00            0.00    3.78001384     6.27749995   996.21998616    7.53300   7.53300
 A-2  63859CA     606,159.21               0.00            0.00    0.00000000     6.26249999 1,000.00000000    7.51500   7.51500
 A-3  63859CA     336,835.78               0.00            0.00    0.00000000     6.52500010 1,000.00000000    7.83000   7.83000
 B    63859CA     103,379.11               0.00            0.00    0.00000000     6.40833324 1,000.00000000    7.69000   7.69000
 C    63859CA     124,054.94               0.00            0.00    0.00000000     6.40833338 1,000.00000000    7.69000   7.69000
 D    63589CA     113,717.02               0.00            0.00    0.00000000     6.40833322 1,000.00000000    7.69000   7.69000
 E    63859CA      93,041.20               0.00            0.00    0.00000000     6.40833326 1,000.00000000    7.69000   7.69000
 F    63859CA      64,225.45               0.00            0.00    0.00000000     6.12499986 1,000.00000000    7.35000   7.35000
 G    63859CA      34,582.93               0.00            0.00    0.00000000     6.12499962 1,000.00000000    7.35000   7.35000
 H    63859CA      59,285.03               0.00            0.00    0.00000000     6.12499973 1,000.00000000    7.35000   7.35000
 UR   63859CA      54,848.77               0.00            0.00    0.00000000     5.66666674 1,000.00000000    6.80000   6.80000
 R                      0.00               0.00            0.00    0.00000000     0.00000000     0.00000000    0.00000   0.00000
 IO   63859CA     141,482.15               0.00            0.00    0.00000000     0.43855833   999.16839401    0.52627   0.51278


   TOTAL:       2,177,193.05               0.00            0.00
1
                                       7
</TABLE>

<PAGE>
 
DIST. DATE: 6/20/96
REC. DATE: 5/31/96
                     NationasLink Funding Corporation Page 3
                  Commercial Mortgage Pass-Through Certificates
                                  Series 1996-1

                       Monthly Certificate Holders Report

         P & I Advances                                       92,744.43

         Servicing Compensation                               80,039.40

         Beginning Balance(Mortgage Loans)               322,639,635.65

         Ending Balance(Mortgage Loans)                  322,371,326.60

         Beginning Balance(REO Loans)                              0.00

         Ending Balance(REO Loans)                                 0.00

         Aggregate Number of Mortgage Loans                          94

         Aggregate Mortgage Principal Balance            322,371,326.60

         Weighted Average Remaining Term to Maturity             103.56

         Weighted Average Mortgage Rate                         8.38154%

         # of Loans Delinquent(1 month)                               0

         Balance of Loans Delinquent(1 month)                      0.00

         # of Loans Delinquent(2 month)                               0

         Balance of Loans Delinquent(2 month)                      0.00

         # of Loans Delinquent(3 month)                               0

         Balance of Loans Delinquent(3 month)                      0.00

         # of Loans Delinquent(In Foreclosure)                        0

         Balance of Loans Delinquent(In Foreclosure)               0.00

         Appraisal Value of REO Property                           0.00

         Appraisal Distribution Amount                     2,445,849.36

         Scheduled Principal Distribution Amount             268,308.10

        Unscheduled Principal Distribution Amount                  0.00
 
                                      8
<PAGE>





                                  Exhibit 99.2

              Monthly Certificateholder Statement on July 20, 1996

                                       9
<PAGE>
<TABLE>
RUN DATE:07/19/96   10:58:52 
DIST. DATE:  7/20/96
REC. DATE:   6/30/96
                     NationasLink Funding Corporation Page 1
                  Commercial Mortgage Pass-Through Certificates
                                  Series 1996-1

                       Monthly Certificate Holders Report



 CLAS CUSIP        BEG. BALANCE     PRIN. DIST.      INT. DIST.      PREP PENAL    COLL DEFICIT      TOTAL DIST    END BALANCE
 <S>  <C>        <C>                <C>            <C>                     <C>           <C>       <C>           <C>         
 A-1  63859CAA1   70,712,410.69      273,867.60      443,897.16            0.00            0.00      717,764.76   70,438,543.09
 A-2  63859CAB9   96,791,890.00            0.00      606,159.21            0.00            0.00      606,159.21   96,791,890.00
 A-3  63859CAC7   51,622,341.00            0.00      336,835.78            0.00            0.00      336,835.78   51,622,341.00
 B    63859CAD5   16,131,981.00            0.00      103,379.11            0.00            0.00      103,379.11   16,131,981.00
 C    63859CAE3   19,358,378.00            0.00      124,054.94             N/A            0.00      124,054.94   19,358,378.00
 D    63589CAF0   17,745,179.00            0.00      113,717.02             N/A            0.00      113,717.02   17,745,179.00
 E    63859CAG8   14,518,783.00            0.00       93,041.20             N/A            0.00       93,041.20   14,518,783.00
 F    63859CAH6   10,485,788.00            0.00       64,225.45             N/A            0.00       64,225.45   10,485,788.00
 G    63859CAJ2    5,646,193.00            0.00       34,582.93             N/A            0.00       34,582.93    5,646,193.00
 H    63859CAK9    9,679,189.00            0.00       59,285.03             N/A            0.00       59,285.03    9,679,189.00
 IO   63859CAM5  322,339,089.84            0.00      137,736.22            0.00            0.00      137,736.22  322,065,249.62
 R                         0.00            0.00            0.00             N/A            0.00            0.00            0.00
 UR   63859CAL7    9,679,194.58            0.00       54,848.77             N/A            0.00       54,848.77    9,679,194.58


   TOTAL:        322,371,327.27      273,867.60    2,171,762.82            0.00            0.00    2,445,630.42  322,097,459.67
1

                                       10
<PAGE>
DIST. DATE:  7/20/96        
REC. DATE:   6/30/96        

                     NationasLink Funding Corporation Page 2
                  Commercial Mortgage Pass-Through Certificates
                                  Series 1996-1

                       Monthly Certificate Holders Report



 CLAS CUSIP         ACCR INT       APPR RED AMT    UNPAID INT     PRIN FACTOR     INT FACTOR  E. BAL FACTOR  CURR RATE NEXT RATE

 A-1  63859CA     443,897.16               0.00            0.00    3.85833792     6.25377097   992.36164528    7.53300   7.53300
 A-2  63859CA     606,159.21               0.00            0.00    0.00000000     6.26249999 1,000.00000000    7.51500   7.51500
 A-3  63859CA     336,835.78               0.00            0.00    0.00000000     6.52500010 1,000.00000000    7.83000   7.83000
 B    63859CA     103,379.11               0.00            0.00    0.00000000     6.40833324 1,000.00000000    7.69000   7.69000
 C    63859CA     124,054.94               0.00            0.00    0.00000000     6.40833338 1,000.00000000    7.69000   7.69000
 D    63589CA     113,717.02               0.00            0.00    0.00000000     6.40833322 1,000.00000000    7.69000   7.69000
 E    63859CA      93,041.20               0.00            0.00    0.00000000     6.40833326 1,000.00000000    7.69000   7.69000
 F    63859CA      64,225.45               0.00            0.00    0.00000000     6.12499986 1,000.00000000    7.35000   7.35000
 G    63859CA      34,582.93               0.00            0.00    0.00000000     6.12499962 1,000.00000000    7.35000   7.35000
 H    63859CA      59,285.03               0.00            0.00    0.00000000     6.12499973 1,000.00000000    7.35000   7.35000
 UR   63859CA      54,848.77               0.00            0.00    0.00000000     5.66666674 1,000.00000000    6.80000   6.80000
 R                      0.00               0.00            0.00    0.00000000     0.00000000     0.00000000    0.00000   0.00000
 IO   63859CA     137,736.22               0.00            0.00    0.00000000     0.42694691   998.31956082    0.51276   0.52623


   TOTAL:       2,171,762.82               0.00            0.00

                                       11
</TABLE>


<PAGE>
 DIST. DATE:  7/20/96 
 REC.  DATE:  6/30/96 

                  Commercial Mortgage Pass-Through Certificates
                                  Series 1996-1

                       Monthly Certificate Holders Report


         P & I Advances                                      312,247.99

         Servicing Compensation                               79,976.34

         Beginning Balance(Mortgage Loans)               322,371,326.97

         Ending Balance(Mortgage Loans)                  322,097,459.37

         Beginning Balance(REO Loans)                              0.00

         Ending Balance(REO Loans)                                 0.00

         Aggregate Number of Mortgage Loans                          94

         Aggregate Mortgage Principal Balance            322,097,459.37

         Weighted Average Remaining Term to Maturity             102.56

         Weighted Average Mortgage Rate                         8.38297%

         # of Loans Delinquent(1 month)                               0

         Balance of Loans Delinquent(1 month)                      0.00

         # of Loans Delinquent(2 month)                               0

         Balance of Loans Delinquent(2 month)                      0.00

         # of Loans Delinquent(3 month)                               0

         Balance of Loans Delinquent(3 month)                      0.00

         # of Loans Delinquent(In Foreclosure)                        0

         Balance of Loans Delinquent(In Foreclosure)               0.00

         Appraisal Value of REO Property                           0.00

         Appraisal Distribution Amount                     2,445,912.81

         Scheduled Principal Distribution Amount             273,867.60

         Unscheduled Principal Distribution Amount                 0.00

                                       12
[{"type": "8-K", "sequence": "1", "description": "PAYMENT DATE STATEMENTS", "secsgml_size_bytes": 17301}]
{"company-data": {"conformed-name": "NATIONSLINK FUNDING CORP", "cik": "0001005007", "assigned-sic": "6189", "state-of-incorporation": "DE", "fiscal-year-end": "1231"}, "filing-values": {"form-type": "8-K", "act": "34", "file-number": "033-80625", "film-number": "96621612"}, "business-address": {"street1": "NATIONSBANK CORPORATE CENTER", "street2": "100 NORTH TYRON STREET", "city": "CHARLOTTE", "state": "NC", "zip": "28255", "phone": "7043865000"}}
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) : May 24, 1996

      NationsLink Funding Corporation, (as depositor under the Pooling and
      Servicing Agreement, dated as of May 1, 1996 caused the issue of
      NationsLink Funding Corporation Commercial Mortgage Pass-Through
      Certificates, Series 1996-1
                    
                         NationsLink Funding Corporation
             (Exact name of registrant as specified in its charter)

           Delaware                       33-80625                  56-1950039
(State or other jurisdiction       (Commission File Number)       (IRS Employer
of incorporation or organization)                            Identification No.)

100 North Tryon Street,
Charlotte, North Carolina                                                28255
(Address of principal executive offices)                             (Zip Code)

       Registrant's telephone number, including area code : (704) 386-5000

                                       N/A
         (Former name or former address, if changed since last report.)

                     Page 1 of 4                     This report consists of 12
                                                   consecutively numbered pages.
Item 5.    Other Events.
- -------    -------------

           On June 20, 1996, and July 20, 1996,  distributions  were made to the
            Certificateholders.   Specific   information  with  respect  to  the
            distributions is filed as Exhibits 99.1, and 99.2.

           No other reportable  transactions or matters have occurred during the
            current reporting period.

Item 7.    Financial Statements and Exhibits.
- -------    ----------------------------------

           (c)   The following exhibits are filed as part of this report:

                 Statement to Certificateholders  on June  20,  1996  filed as
                  Exhibit 99.1 hereto.

                 Statement  to  Certificateholders  on July  20,  1996  filed as
                  Exhibit 99.2 hereto.

                                       2
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.

                                                    NATIONSLINK FUNDING
                                                    CORPORATION COMMERCIAL 
                                                    MORTGAGE PASS-THROUGH
                                                    CERTIFICATES SERIES 1996-1

Date:    August 27, 1996                    By:      /s/ James E. Naumann
                                                    ---------------------
                                                    James E. Naumann
                                                    Senior Vice President & CFO

                                       3
INDEX TO EXHIBITS
- -----------------

      Exhibit
      Number                   Description of Exhibits                Page
      ------             --------------------------------------       ----

        99.1             Monthly Certificateholder Statement on        5
                         June 20, 1996.

        99.2             Monthly Certificateholder Statement on        9
                         July 20, 1996.

                                       4
Exhibit 99.1

              Monthly Certificateholder Statement on June 20, 1996

                                       5
DIST. DATE:  6/20/96
REC. DATE:   5/31/96   
                        NationasLink Funding Corporation
                 Commercial Mortgage Pass-Through Certificates
                                  Series 1996-1

                       Monthly Certificate Holders Report
CLAS CUSIP        BEG. BALANCE     PRIN. DIST.      INT. DIST.      PREP PENAL    COLL DEFICIT      TOTAL DIST    END BALANCE
A-1  63859CAA1   70,980,719.00      268,308.31      445,581.46            0.00            0.00      713,889.77   70,712,410.69
 A-2  63859CAB9   96,791,890.00            0.00      606,159.21            0.00            0.00      606,159.21   96,791,890.00
 A-3  63859CAC7   51,622,341.00            0.00      336,835.78            0.00            0.00      336,835.78   51,622,341.00
 B    63859CAD5   16,131,981.00            0.00      103,379.11            0.00            0.00      103,379.11   16,131,981.00
 C    63859CAE3   19,358,378.00            0.00      124,054.94             N/A            0.00      124,054.94   19,358,378.00
 D    63589CAF0   17,745,179.00            0.00      113,717.02             N/A            0.00      113,717.02   17,745,179.00
 E    63859CAG8   14,518,783.00            0.00       93,041.20             N/A            0.00       93,041.20   14,518,783.00
 F    63859CAH6   10,485,788.00            0.00       64,225.45             N/A            0.00       64,225.45   10,485,788.00
 G    63859CAJ2    5,646,193.00            0.00       34,582.93             N/A            0.00       34,582.93    5,646,193.00
 H    63859CAK9    9,679,189.00            0.00       59,285.03             N/A            0.00       59,285.03    9,679,189.00
 IO   63859CAM5  322,607,371.69            0.00      141,482.15            0.00            0.00      141,482.15  322,339,089.47
 R                         0.00            0.00           79.53             N/A            0.00           79.53            0.00
 UR   63859CAL7    9,679,194.58            0.00       54,848.77             N/A            0.00       54,848.77    9,679,194.58

   TOTAL:        322,639,635.58      268,308.31    2,177,272.58            0.00            0.00    2,445,580.89  322,371,327.27

                                       6
DIST. DATE:  6/20/96         
REC. DATE:   5/31/96         
                                       1
                     NationasLink Funding Corporation Page 2
                  Commercial Mortgage Pass-Through Certificates
     
                                  Series 1996-1

                       Monthly Certificate Holders Report

 CLAS CUSIP         ACCR INT       APPR RED AMT    UNPAID INT     PRIN FACTOR     INT FACTOR  E. BAL FACTOR  CURR RATE NEXT RATE

 A-1  63859CA     445,581.46               0.00            0.00    3.78001384     6.27749995   996.21998616    7.53300   7.53300
 A-2  63859CA     606,159.21               0.00            0.00    0.00000000     6.26249999 1,000.00000000    7.51500   7.51500
 A-3  63859CA     336,835.78               0.00            0.00    0.00000000     6.52500010 1,000.00000000    7.83000   7.83000
 B    63859CA     103,379.11               0.00            0.00    0.00000000     6.40833324 1,000.00000000    7.69000   7.69000
 C    63859CA     124,054.94               0.00            0.00    0.00000000     6.40833338 1,000.00000000    7.69000   7.69000
 D    63589CA     113,717.02               0.00            0.00    0.00000000     6.40833322 1,000.00000000    7.69000   7.69000
 E    63859CA      93,041.20               0.00            0.00    0.00000000     6.40833326 1,000.00000000    7.69000   7.69000
 F    63859CA      64,225.45               0.00            0.00    0.00000000     6.12499986 1,000.00000000    7.35000   7.35000
 G    63859CA      34,582.93               0.00            0.00    0.00000000     6.12499962 1,000.00000000    7.35000   7.35000
 H    63859CA      59,285.03               0.00            0.00    0.00000000     6.12499973 1,000.00000000    7.35000   7.35000
 UR   63859CA      54,848.77               0.00            0.00    0.00000000     5.66666674 1,000.00000000    6.80000   6.80000
 R                      0.00               0.00            0.00    0.00000000     0.00000000     0.00000000    0.00000   0.00000
 IO   63859CA     141,482.15               0.00            0.00    0.00000000     0.43855833   999.16839401    0.52627   0.51278

   TOTAL:       2,177,193.05               0.00            0.00
1
                                       7
DIST. DATE: 6/20/96
REC. DATE: 5/31/96
                     NationasLink Funding Corporation Page 3
                  Commercial Mortgage Pass-Through Certificates
                                  Series 1996-1

                       Monthly Certificate Holders Report

         P & I Advances                                       92,744.43

         Servicing Compensation                               80,039.40

         Beginning Balance(Mortgage Loans)               322,639,635.65

         Ending Balance(Mortgage Loans)                  322,371,326.60

         Beginning Balance(REO Loans)                              0.00

         Ending Balance(REO Loans)                                 0.00

         Aggregate Number of Mortgage Loans                          94

         Aggregate Mortgage Principal Balance            322,371,326.60

         Weighted Average Remaining Term to Maturity             103.56

         Weighted Average Mortgage Rate                         8.38154%

         # of Loans Delinquent(1 month)                               0

         Balance of Loans Delinquent(1 month)                      0.00

         # of Loans Delinquent(2 month)                               0

         Balance of Loans Delinquent(2 month)                      0.00

         # of Loans Delinquent(3 month)                               0

         Balance of Loans Delinquent(3 month)                      0.00

         # of Loans Delinquent(In Foreclosure)                        0

         Balance of Loans Delinquent(In Foreclosure)               0.00

         Appraisal Value of REO Property                           0.00

         Appraisal Distribution Amount                     2,445,849.36

         Scheduled Principal Distribution Amount             268,308.10

        Unscheduled Principal Distribution Amount                  0.00
 
                                      8
Exhibit 99.2

              Monthly Certificateholder Statement on July 20, 1996

                                       9
RUN DATE:07/19/96   10:58:52 
DIST. DATE:  7/20/96
REC. DATE:   6/30/96
                     NationasLink Funding Corporation Page 1
                  Commercial Mortgage Pass-Through Certificates
                                  Series 1996-1

                       Monthly Certificate Holders Report

 CLAS CUSIP        BEG. BALANCE     PRIN. DIST.      INT. DIST.      PREP PENAL    COLL DEFICIT      TOTAL DIST    END BALANCE
A-1  63859CAA1   70,712,410.69      273,867.60      443,897.16            0.00            0.00      717,764.76   70,438,543.09
 A-2  63859CAB9   96,791,890.00            0.00      606,159.21            0.00            0.00      606,159.21   96,791,890.00
 A-3  63859CAC7   51,622,341.00            0.00      336,835.78            0.00            0.00      336,835.78   51,622,341.00
 B    63859CAD5   16,131,981.00            0.00      103,379.11            0.00            0.00      103,379.11   16,131,981.00
 C    63859CAE3   19,358,378.00            0.00      124,054.94             N/A            0.00      124,054.94   19,358,378.00
 D    63589CAF0   17,745,179.00            0.00      113,717.02             N/A            0.00      113,717.02   17,745,179.00
 E    63859CAG8   14,518,783.00            0.00       93,041.20             N/A            0.00       93,041.20   14,518,783.00
 F    63859CAH6   10,485,788.00            0.00       64,225.45             N/A            0.00       64,225.45   10,485,788.00
 G    63859CAJ2    5,646,193.00            0.00       34,582.93             N/A            0.00       34,582.93    5,646,193.00
 H    63859CAK9    9,679,189.00            0.00       59,285.03             N/A            0.00       59,285.03    9,679,189.00
 IO   63859CAM5  322,339,089.84            0.00      137,736.22            0.00            0.00      137,736.22  322,065,249.62
 R                         0.00            0.00            0.00             N/A            0.00            0.00            0.00
 UR   63859CAL7    9,679,194.58            0.00       54,848.77             N/A            0.00       54,848.77    9,679,194.58

   TOTAL:        322,371,327.27      273,867.60    2,171,762.82            0.00            0.00    2,445,630.42  322,097,459.67
1

                                       10
DIST. DATE:  7/20/96        
REC. DATE:   6/30/96        

                     NationasLink Funding Corporation Page 2
                  Commercial Mortgage Pass-Through Certificates
                                  Series 1996-1

                       Monthly Certificate Holders Report

 CLAS CUSIP         ACCR INT       APPR RED AMT    UNPAID INT     PRIN FACTOR     INT FACTOR  E. BAL FACTOR  CURR RATE NEXT RATE

 A-1  63859CA     443,897.16               0.00            0.00    3.85833792     6.25377097   992.36164528    7.53300   7.53300
 A-2  63859CA     606,159.21               0.00            0.00    0.00000000     6.26249999 1,000.00000000    7.51500   7.51500
 A-3  63859CA     336,835.78               0.00            0.00    0.00000000     6.52500010 1,000.00000000    7.83000   7.83000
 B    63859CA     103,379.11               0.00            0.00    0.00000000     6.40833324 1,000.00000000    7.69000   7.69000
 C    63859CA     124,054.94               0.00            0.00    0.00000000     6.40833338 1,000.00000000    7.69000   7.69000
 D    63589CA     113,717.02               0.00            0.00    0.00000000     6.40833322 1,000.00000000    7.69000   7.69000
 E    63859CA      93,041.20               0.00            0.00    0.00000000     6.40833326 1,000.00000000    7.69000   7.69000
 F    63859CA      64,225.45               0.00            0.00    0.00000000     6.12499986 1,000.00000000    7.35000   7.35000
 G    63859CA      34,582.93               0.00            0.00    0.00000000     6.12499962 1,000.00000000    7.35000   7.35000
 H    63859CA      59,285.03               0.00            0.00    0.00000000     6.12499973 1,000.00000000    7.35000   7.35000
 UR   63859CA      54,848.77               0.00            0.00    0.00000000     5.66666674 1,000.00000000    6.80000   6.80000
 R                      0.00               0.00            0.00    0.00000000     0.00000000     0.00000000    0.00000   0.00000
 IO   63859CA     137,736.22               0.00            0.00    0.00000000     0.42694691   998.31956082    0.51276   0.52623

   TOTAL:       2,171,762.82               0.00            0.00

                                       11
DIST. DATE:  7/20/96 
 REC.  DATE:  6/30/96 

                  Commercial Mortgage Pass-Through Certificates
                                  Series 1996-1

                       Monthly Certificate Holders Report

         P & I Advances                                      312,247.99

         Servicing Compensation                               79,976.34

         Beginning Balance(Mortgage Loans)               322,371,326.97

         Ending Balance(Mortgage Loans)                  322,097,459.37

         Beginning Balance(REO Loans)                              0.00

         Ending Balance(REO Loans)                                 0.00

         Aggregate Number of Mortgage Loans                          94

         Aggregate Mortgage Principal Balance            322,097,459.37

         Weighted Average Remaining Term to Maturity             102.56

         Weighted Average Mortgage Rate                         8.38297%

         # of Loans Delinquent(1 month)                               0

         Balance of Loans Delinquent(1 month)                      0.00

         # of Loans Delinquent(2 month)                               0

         Balance of Loans Delinquent(2 month)                      0.00

         # of Loans Delinquent(3 month)                               0

         Balance of Loans Delinquent(3 month)                      0.00

         # of Loans Delinquent(In Foreclosure)                        0

         Balance of Loans Delinquent(In Foreclosure)               0.00

         Appraisal Value of REO Property                           0.00

         Appraisal Distribution Amount                     2,445,912.81

         Scheduled Principal Distribution Amount             273,867.60

         Unscheduled Principal Distribution Amount                 0.00

                                       12