PROSPECTUS SUPPLEMENT
(To Prospectus Dated September 5, 1997)
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$1,000,000,000
AMRESCO Residential Securities Corporation Mortgage Loan Trust 1998-1
AMRESCO RESIDENTIAL SECURITIES CORPORATION
Depositor
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Advanta Mortgage Corp. USA
Ameriquest Mortgage Company
Wendover Funding, Inc.
Servicers
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The third and fourth sentences of the sixth paragraph on page S-60 of the
Prospectus Supplement are hereby modified in their entirety to read as follows:
A 100% Prepayment Assumption assumes conditional prepayment rates of 4%
per annum of the then outstanding principal balance of the Mortgage
Loans in the Fixed Rate Group in the first month of the life of the
mortgage loans and an additional 1.455% (exactly) per annum each month
thereafter until the twelfth month. Beginning in the twelfth month and
in each month thereafter during the life of the mortgage loans, 100%
Prepayment Assumption assumes a conditional prepayment rate of 20% per
annum each month.
The first sentence of the second full paragraph on page S-90 of the Prospectus
Supplement is hereby modified in its entirety to read as follows:
The prepayment assumption for each Class of the Offered
Certificates for calculating original issue discount is 125% Prepayment
Assumption for the Fixed Rate Group Certificates and 25% CPR for the
Adjustable Rate Group Certificates.
