FIRST HORIZON ASSET SECURITIES INC
8-K, 2000-10-13
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: October 13, 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 and the related 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 2000-4 (the "Offered Securities").

     On September 28, 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 September 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 $187,262,482, have been sold by the Registrant to PaineWebber
Incorporated ("PaineWebber") pursuant to an Underwriting Agreement dated as of
September 19, 2000 (the "Underwriting Agreement"), as supplemented by a Terms
Agreement dated as of September 19, 2000, each among PaineWebber, 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 September 19, 2000
                         by and among PaineWebber, the Registrant and FHHLC.

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

                                      -2-
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                                  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: October 13, 2000     By: /s/ Wade Walker
                                 ----------------------------
                                    Wade Walker
                                    Senior Vice President - Asset Securitization
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                               INDEX TO EXHIBITS


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

         1.1      Underwriting Agreement dated as of September 19, 2000, by and
                  among PaineWebber, the Registrant and FHHLC.

        10.1      Pooling and Servicing Agreement dated as of September 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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