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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)
February 5, 1998
AMRESCO Residential Securities Corporation
(Exact name of registrant as specified in its charter)
Delaware 333-30759 75-2620414
(State or Other Jurisdiction (Commission File Number) (I.R.S. Employer
of Incorporation) Identification No.)
700 North Pearl Street
Suite 1400, LB # 342
Dallas, Texas 75201-7424
(Address of Principal (Zip Code)
Executive Offices)
Registrant's telephone number, including area code (214) 953-7700
No Change
(Former name or former address, if changed since last report)
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Item 7. Financial Statements, Pro Forma Financial Information and Exhibits.
(a) Not applicable
(b) Not applicable
(c) Exhibits:
8.1 Tax Opinion of Arter & Hadden LLP
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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.
AMRESCO RESIDENTIAL SECURITIES
CORPORATION, as Depositor
By: /s/ Ronald B. Kirkland
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Name: Ronald B. Kirkland
Title: Vice President and Chief
Accounting Officer
Dated: February 5, 1998
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EXHIBIT INDEX
Exhibit No. Description Page No.
8.1 Tax Opinion of Arter & Hadden LLP
Exhibit 8.1
February 5, 1998
Re: AMRESCO Residential Securities Corporation
AMRESCO Residential Securities Corporation Mortgage Loan Trust 1998-1
Registration Statement on Form S-3 No. 333-30759
Ladies and Gentlemen:
We have acted as counsel to AMRESCO Residential Securities Corporation in
connection with the preparation and filing of the registration statement on Form
S-3 (such registration statement, the "Registration Statement") filed with the
Securities and Exchange Commission pursuant to the Securities Act of 1933, as
amended (the "Act"), in respect of AMRESCO Residential Securities Corporation
Mortgage Loan Pass-Through Certificates, Series 1998-1 (the "Certificates"). Our
advice formed the basis for the description of federal income tax consequences
appearing under the heading "Certain Federal Income Tax Consequences" in the
prospectus supplement contained in the Registration Statement. Such description
does not purport to discuss all possible federal income tax consequences of an
investment in Certificates but with respect to those tax consequences which are
discussed, it is our opinion that the description is accurate. In addition,
assuming (i) the REMIC elections are made, (ii) the Pooling and Servicing
Agreement is fully executed, delivered and enforceable against the parties
thereto in accordance with its terms, (iii) the transaction described in the
prospectus supplement is completed on substantially the terms and conditions set
forth therein, and (iv) continuing compliance with the Pooling and Servicing
Agreement, it is our opinion that, for federal income tax purposes, the
Lower-Tier REMIC and the Upper-Tier REMIC created by the Pooling and Servicing
Agreement will each be treated as a REMIC, each class of the Offered
Certificates, the Class C-IO Certificates, the Class D Certificates and the
Class S Certificates will be treated as "regular interests" in the Upper-Tier
REMIC and the Class R Certificates will be the sole "residual interests" in the
Upper-Tier REMIC. The Lower-Tier Interests A-1 through A-7, M-1F, M-1A, M-2F,
M-2A, B-1F and B-1A will be treated as the "regular interests" in the Lower-Tier
REMIC and the Lower-Tier REMIC Residual Class will be treated as the sole
"residual interest" in the Lower-Tier REMIC.
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We hereby consent to the filing of this letter as an Exhibit to the
Registration Statement and to the reference to this firm in the Registration
Statement and related prospectus supplement under the heading "Certain Federal
Income Tax Consequences."
Very truly yours,
/s/ Arter & Hadden LLP
Arter & Hadden LLP
