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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): July 27, 1999
AMERICAN RESIDENTIAL EAGLE, INC.
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(Exact name of registrant as specified in its charter)
Delaware 333-70189 33-0787975
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(State or Other Jurisdiction (Commission (I.R.S. Employer
of Incorporation) File Number) Identification No.)
445 Marine View Avenue
Suite 100
Del Mar, California 92014
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(Address of Principal (Zip Code)
Executive Offices)
Registrant's telephone number, including area code (858) 259-6082
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Item 5. Other Events.
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Filing of Certain Materials
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Pursuant to Rule 424(b)(5) under the Securities Act of 1933, concurrently
with, or subsequent to, the filing of this Current Report on Form 8-K (the
"Form 8-K"), American Residential Eagle, Inc. (the "Depositor") is filing a
prospectus and a prospectus supplement with the Securities and Exchange
Commission (the "Commission") relating to the Collateralized Home Equity
Bonds, Series 1999-2 (the "Bonds") of American Residential Eagle Bond Trust
1999-2 (the "Trust").
Incorporation of Certain Documents by Reference
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The consolidated financial statements of Financial Security Assurance
Inc. and Subsidiaries as of December 31, 1998 and December 31, 1997, and for
the three-year period ended December 31, 1998, included in the Annual Report
on Form 10-K of Financial Security Assurance Holdings Ltd. (which was filed
with the Securities and Exchange Commission on March 25, 1999) are hereby
incorporated by reference in (i) this Current Report on Form 8-K; and (ii) the
prospectus supplement for American Residential Eagle Bond Trust 1999-2
Collateralized Home Equity Bonds, Series 1999-2, and shall be deemed to be
part hereof and thereof.
In connection with the issuance of the Bonds, the Company is filing
herewith the consent of PricewaterhouseCoopers LLP ("PWC") to the use of their
name and the incorporation by reference of their report in the prospectus
supplement relating to the issuance of the Bonds. The consent of PWC is
attached hereto as Exhibit 23.1
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* Capitalized terms used and not otherwise defined herein shall have the
meanings assigned to them in the prospectus dated March 18, 1999 and the
prospectus supplement dated July 21, 1999, of the Trust relating to its Bonds.
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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:
23.1 Consent of PWC
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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.
AMERICAN RESIDENTIAL EAGLE, INC.
By: /s/ Jay M. Fuller
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Name: Jay M. Fuller
Title: President
Dated: July 29, 1999
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Exhibit Index
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Exhibit Page
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23.1 Consent of PWC
EXHIBIT 23.1
CONSENT OF INDEPENDENT ACCOUNTANTS
We consent to the incorporation by reference in the Prospectus Supplement of
American Residential Eagle, Inc. relating to the American Residential Eagle
Bond Trust 1999-2 of our report dated January 26, 1999 on our audits of the
consolidated financial statements of Financial Security Assurance Inc. as of
December 31, 1998 and 1997, and for each of the years in the three-year period
ended December 31, 1998. We also consent to the reference to our Firm under
the caption "Experts".
/s/ PricewaterhouseCoopers LLP
July 23, 1999
