FIRST HORIZON ASSET SECURITIES INC
8-K, 2000-08-24
ASSET-BACKED SECURITIES
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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: July 26, 2000
                       (Date of earliest event reported)

                     FIRST HORIZON ASSET SECURITIES INC.
            (Exact name of Registrant as specified in its charter)

       Delaware                 333-74467                75-2808384
(State of Incorporation)  (Commission File No.)       (I.R.S. Employer
                                                     Identification No.)

           4000 Horizon Way
            Irving, Texas                                  75063
(Address of Principal executive offices)                 (Zip Code)

      Registrant's Telephone Number, Including Area Code: (214) 441-4000
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Item 5.   Other Events.
          ------------

     Reference is hereby made to the Registrant's Registration Statement on Form
S-3 (File No. 333-74467) filed with the Securities and Exchange Commission (the
"Commission") on March 16, 1999, as amended by Amendment No. 1 thereto filed
with the Commission on May 21, 1999, as further amended by Amendment No. 2
thereto filed with the Commission on July 16, 1999, as further amended by
Amendment No. 3 thereto filed with the Commission on December 20, 1999, and as
further amended by Amendment No. 4 thereto filed with the Commission on January
21, 2000 (as so amended, the "Registration Statement"), pursuant to which the
Registrant registered $1,500,000,000 aggregate principal amount of its mortgage
pass-through certificates, issuable in various series, for sale in accordance
with the provisions of the Securities Act of 1933, as amended.  Reference is
also hereby made to the Prospectus, the related Prospectus Supplement and the
related Supplement to the Prospectus Supplement (collectively, the
"Prospectus"), which have been filed with the Commission pursuant to Rule 424,
with respect to the Registrant's Mortgage Pass-Through Certificates, Series
2000-3 (the "Offered Securities").

     On July 26, 2000, the Registrant caused the issuance and sale of the
Offered Securities.  The Offered Securities evidence a beneficial ownership
interest in a pool of conventional, fixed-rate, fully-amortizing, one-to four-
family, first lien mortgage loans (the "Mortgage Loans").  The Offered
Securities were created pursuant to a Pooling and Servicing Agreement dated as
of July 1, 2000 (the "Pooling and Servicing Agreement") by and among the
Registrant, as Depositor, First Horizon Home Loan Corporation, as Seller and
Master Servicer, and The Bank of New York, as Trustee.  A copy of the Pooling
and Servicing Agreement is filed herewith as Exhibit 10.1.
                                             ------------

     The Offered Securities, having an aggregate principal balance of
approximately $172,094,155, have been sold by the Registrant to Goldman Sachs &
Co. ("Goldman") pursuant to an Underwriting Agreement dated as of July 20, 2000
(the "Underwriting Agreement"), as supplemented by a Terms Agreement dated as of
July 20, 2000, each among Goldman, the Registrant and First Horizon Home Loan
Corporation ("FHHLC").  A copy of the Underwriting Agreement is filed herewith
as Exhibit 1.1.
   -----------

Item 7.   Financial Statements and Exhibits.
          ---------------------------------

     (c)  Exhibits

          Exhibit No.  Description
          ----------   -----------

               1.1     Underwriting Agreement dated as of July 20, 2000

               10.1    Pooling and Servicing Agreement dated as of July 1, 2000
                       by and among the Registrant, as Depositor, FHHLC, as
                       Seller and Master Servicer, and The Bank of New York, as
                       Trustee
<PAGE>

                                  Signatures
                                  ----------

     Pursuant to the requirements of the Securities Exchange Act of 1934, the
Registrant as of the date first written above has duly caused this Report to be
signed on its behalf by the undersigned hereunto duly authorized.

                          FIRST HORIZON ASSET SECURITIES INC.

Dated: July 26, 2000      By:  /s/ Wade Walker
                             --------------------------------------------------
                                   Wade Walker
                                   Senior Vice President - Asset Securitization

Signature Page for Form 8-K (Issuance of Certificates)
<PAGE>

                         INDEX TO EXHIBITS

  Exhibit No.
  ----------

     1.1  Underwriting Agreement dated as of July 20, 2000, by and among
          Goldman, the Registrant and FHHLC

     10.1 Pooling and Servicing Agreement dated as of July 1, 2000, by and among
          the Registrant, as Depositor, FHHLC, as Seller and Master Servicer,
          and The Bank of New York, as Trustee


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