SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 20549
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SCHEDULE 13G
(RULE 13D - 102)
INFORMATION TO BE INCLUDED IN STATEMENTS
PURSUANT TO RULES 13D-1(B) AND (C) AND
AMENDMENTS THERETO FILED PURSUANT TO 13D-2
(AMENDMENT NO. )*
RESOURCE BANCSHARES MORTGAGE GROUP, INC.,
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(Name of Issuer)
COMMON
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(Title of Class of Securities)
761 197 102
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(CUSIP Number)
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*The remainder of this cover page shall be filled out for a
reporting person's initial filing on this form with respect to the subject class
of securities, and for any subsequent amendment containing information which
would alter the disclosures provided in a prior cover page.
The information required in the remainder of this cover page
shall not be deemed to be "filed" for the purpose of Section 18 of the
Securities Exchange Act of 1934 or otherwise subject to the liabilities of that
section of the Act but shall be subject to all other provisions of the Act
(however, SEE the NOTES).
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CUSIP NO. 761 197 102 13G PAGE 2 OF 9
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1 NAMES OF REPORTING PERSONS
I.R.S. IDENTIFICATIONS NOS. OF ABOVE PERSONS
Benefit Capital Management Corporation
06-1204181
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [ ]
(b) [ ]
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3 SEC USE ONLY
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4 CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
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5 SOLE VOTING POWER
NUMBER OF SHARES 1,363,993
BENEFICIALLY
OWNED BY EACH -------------------------------------------------------------
REPORTING 6 SHARED VOTING POWER
PERSON WITH 0
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7 SOLE DISPOSITIVE POWER
1,363,993
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8 SHARED DISPOSITIVE POWER
0
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9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
1,363,993
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10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES
CERTAIN SHARES* |_|
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11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
6.1%
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12 TYPE OF REPORTING PERSON*
IA
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*SEE INSTRUCTIONS BEFORE FILLING OUT!
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CUSIP NO. 761 197 102 13G PAGE 3 OF 9
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1 NAMES OF REPORTING PERSONS
I.R.S. IDENTIFICATIONS NOS. OF ABOVE PERSONS
Union Carbide Corporation
06-1255728
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [ ]
(b) [ ]
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3 SEC USE ONLY
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4 CITIZENSHIP OR PLACE OF ORGANIZATION
New York
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5 SOLE VOTING POWER
NUMBER OF 0
SHARES -----------------------------------------------------------
BENEFICIALLY 6 SHARED VOTING POWER
OWNED BY 1,363,993
EACH -----------------------------------------------------------
REPORTING 7 SOLE DISPOSITIVE POWER
PERSON WITH 0
-----------------------------------------------------------
8 SHARED DISPOSITIVE POWER
1,363,993
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9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
1,363,993
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10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES
CERTAIN SHARES* |_|
- --------------------------------------------------------------------------------
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
6.1%
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12 TYPE OF REPORTING PERSON*
HC
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*SEE INSTRUCTIONS BEFORE FILLING OUT!
<PAGE>
Item 1.
(A) NAME OF ISSUER.
Resource Bancshares Mortgage Group, Inc., a Delaware
corporation (the "Issuer").
(B) ADDRESS OF ISSUER'S PRINCIPAL EXECUTIVE OFFICES.
The Issuer's principal executive offices are located at 7909
Parklane Road, Suite 150, Columbia, South Carolina 29223.
ITEM 2.
(A) NAMES OF PERSONS FILING.
This statement is filed by the following persons: (a) Benefit
Capital Management Corporation ("BCMC"), in its capacity as Investment Manager
for Separate Account No. VCA-GA-5298 (the "Account") of The Prudential Insurance
Company of America and (b) Union Carbide Corporation ("UCC").
(B) ADDRESS OF PRINCIPAL BUSINESS OFFICE.
The principal business office of each of BCMC and UCC is 39
Old Ridgebury Road, Danbury, Connecticut 06817.
(C) CITIZENSHIP.
BCMC is a Delaware corporation. UCC is a New York corporation.
(D) TITLE OF CLASS OF SECURITIES.
This statement relates to shares of Common Stock, par value
$.01 per share (the "Common Stock"), of the Issuer.
(E) CUSIP NUMBER.
761 197 102
ITEM 3. This statement is not being filed pursuant to Rule 13d-1(b) or
13d-2(b).
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ITEM 4. OWNERSHIP.
(A) AMOUNT BENEFICIALLY OWNED.
Each of BCMC and UCC beneficially owns 1,363,993 shares of
Issuer's Common Stock.
(B) PERCENT OF CLASS.
Each of BCMC and UCC -- 6.1%.
(C) POWER TO VOTE OR DIRECT THE VOTE AND DISPOSE OR
DIRECT THE DISPOSITION OF SECURITIES.
(i) BCMC has sole power to vote or dispose or to
direct the vote or disposition of the shares
of Common Stock.
(ii) UCC has shared power to vote or dispose or
to direct the vote or disposition of the
shares of Common Stock.
ITEM 5. OWNERSHIP OF FIVE PERCENT OR LESS OF A CLASS.
If this statement is being filed to report the fact that as of
the date hereof the reporting person has ceased to be the
beneficial owner of more than five percent of the class of
securities, check the following [ ]
ITEM 6. OWNERSHIP OF MORE THAN FIVE PERCENT ON BEHALF OF ANOTHER
PERSON.
Pursuant to an agreement with UCC, BCMC manages the assets of
the Account. The shares of Common Stock reported in this
Schedule as being beneficially owned by BCMC and UCC are
assets of the Account.
ITEM 7. IDENTIFICATION AND CLASSIFICATION OF THE SUBSIDIARY WHICH
ACQUIRED THE SECURITY BEING REPORTED ON BY THE PARENT HOLDING
COMPANY.
Not applicable.
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ITEM 8. IDENTIFICATION AND CLASSIFICATION OF MEMBERS OF THE GROUP.
Not applicable.
ITEM 9. NOTICE OF DISSOLUTION OF GROUP.
Not applicable.
ITEM 10. CERTIFICATION.
Not applicable.
[SIGNATURES ON NEXT PAGE]
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SIGNATURE/SIGNED IN COUNTERPART
After reasonable inquiry and to the best knowledge and belief
of the undersigned, the undersigned certify that the information set forth in
this statement is true, complete and correct.
BENEFIT CAPITAL MANAGEMENT
CORPORATION
Dated: February 12, 1998 By:/s/ Sue DeCarlo
Susan DeCarlo, Chief Financial Officer
UNION CARBIDE CORPORATION
Dated: February 12, 1998 By:/s/ J. McDonald
Name: John McDonald
Title: Secretary
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EXHIBIT INDEX
EXHIBIT
1. Joint Filing Agreement.
EXHIBIT 1
THIS DOCUMENT HAS BEEN SIGNED IN COUNTERPART
JOINT FILING AGREEMENT
In accordance with Rule 13d-1(f) under the Securities Exchange
Act of 1934, the persons named below agree to the joint filing on behalf of each
of them of a Statement on Schedule 13G (including amendments thereto) with
respect to the common stock of RESOURCE BANCSHARES MORTGAGE GROUP, INC., and
further agree that this Joint Filing Agreement be included as an Exhibit to such
joint filings. In evidence thereof each of the undersigned, being duly
authorized, hereby execute this Agreement on the date set forth opposite its
name.
BENEFIT CAPITAL MANAGEMENT
CORPORATION
Dated: February 12, 1998 By:/s/ Sue DeCarlo
Susan DeCarlo, Chief Financial Officer
UNION CARBIDE CORPORATION
Dated: February 12, 1998 By:/s/ J. McDonald
Name: John McDonald
Title: Secretary
