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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): December 22, 1998
HEADLANDS MORTGAGE SECURITIES INC.
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(Exact name of registrant as specified in its charter)
Delaware 333-46019 68-0397342
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(State or Other Jurisdiction of (Commission File (I.R.S. Employer
Incorporation) Number) Identification No.)
700 Larkspur Landing Circle,
Suite 240,
Larkspur, California 94939
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(Address of Principal (Zip Code)
Executive Offices)
Registrant's telephone number, including area code (415) 461-6790
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Item 5. Other Events.
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Filing of Derived Materials.
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In connection with the offering of Headlands Mortgage Securities Inc.,
Mortgage Pass-Through Certificates, Series 1998-3(the "Certificates"), Bear,
Stearns & Co. Inc, as underwriter of the Certificates (the "Underwriter"), has
prepared certain materials (the "Derived Materials") for distribution to its
potential investors. Although Headlands Mortgage Securities Inc. (the "Company")
provided the Underwriter with certain information regarding the characteristics
of the Mortgage Loans (the "Loans") in the related portfolio, it did not
participate in the preparation of the Derived Materials. Concurrently with the
filing hereof, pursuant to Rule 202 of Regulation S-T, the Company is filing the
Derived Materials by paper filing on Form SE in reliance on a continuing
hardship exemption.
For purposes of this Form 8-K, Derived Materials shall mean computer
generated tables and/or charts displaying, with respect to the Certificates, any
of the following: yield; average life, duration; expected maturity; interest
rate sensitivity; loss sensitivity; cash flow characteristics; background
information regarding the Loans; the proposed structure; decrement tables; or
similar information (tabular or otherwise) of a statistical, mathematical,
tabular or computational nature. The Derived Materials are attached hereto as
Exhibit 99.1.
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Item 7. Financial Statements, Pro Forma Financial
Information and Exhibits.
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(a) Not applicable.
(b) Not applicable.
(c) Exhibits:
99.1 Derived Materials
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SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant duly caused this report to be signed on its behalf by the undersigned
hereunto duly authorized.
HEADLANDS MORTGAGE SECURITIES INC.
By:/s/ Kristen Decker
Name: Kristen Decker
Title: Vice President
Dated: December 21, 1998
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Exhibit Index
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Exhibit Page
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99.1 Derived Materials.....................................6
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EXHIBIT 99.1
In accordance with Rule 202 of Regulation S-T, the Derived Materials
are being filed on paper pursuant to Form SE in reliance on a continuing
hardship exemption.
