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: December 21, 2000
(Date of earliest event reported)
Residential Asset Mortgage Products, Inc.
(Exact name of registrant as specified in its charter)
Delaware 333-42510 41-1955181
-------- --------- ----------
(State or Other Jurisdiction of (Commission (I.R.S. Employer
Incorporation) File Number) Identification No.)
8400 Normandale Lake Blvd., Suite 600, Minneapolis, Minnesota 55437
(Address of Principal Executive Office) (Zip Code)
Registrant's telephone number, including area code:(612) 832-7000
--------------
<PAGE>
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Item 5. Other Events.
On December 27, 2000, the Registrant will cause the issuance and
sale of Mortgage Asset-Backed Pass-Through Certificates, Series
2000-RS3, Class A-I-1, Class A-I-2, Class A-I-3, Class A-I-4, Class
A-II, Class SB-I, Class SB-II, Class R-I and Class R-II (the
"Certificates") pursuant to a Pooling and Servicing Agreement to be
dated as of December 1, 2000, among the Registrant, Residential Funding
Corporation, as Master Servicer and Bank One, National Association, as
Trustee.
In connection with the sale of the Series 2000-RS4, Class A-I-1,
Class A-I-2, Class A-I-3, Class A-I-4 and Class A-II Certificates (the
"Underwritten Certificates"), the Registrant has been advised by
Residential Funding Securities Corporation (the "Underwriters"), that
the Underwriters have furnished to prospective investors certain yield
tables and other computational materials (the "Computational
Materials") with respect to the Underwritten Certificates following
the effective date of Registration Statement No. 333-42510, which
Computational Materials are being filed electronically as exhibits to
this report.
The Computational Materials have been provided by the
Underwriters. The information in the Computational Materials is
preliminary and may be superseded by the Prospectus Supplement relating
to the Certificates and by any other information subsequently filed with
the Securities and Exchange Commission.
The Computational Materials were prepared by the Underwriters at
the request of certain prospective investors, based on assumptions
provided by, and satisfying the special requirements of, such
prospective investors. The Computational Materials may be based on
assumptions that differ from the assumptions set forth in the Prospectus
Supplement. The Computational Materials may not include, and do not
purport to include, information based on assumptions representing a
complete set of possible scenarios. Accordingly, the Computational
Materials may not be relevant to or appropriate for investors other than
those specifically requesting them.
In addition, the actual characteristics and performance of the
mortgage loans underlying the Underwritten Certificates (the "Mortgage
Loans") may differ from the assumptions used in the Computational
Materials, which are hypothetical in nature and which were provided to
certain investors only to give a general sense of how the yield, average
life, duration, expected maturity, interest rate sensitivity and cash
flow characteristics of a particular class of Underwritten Certificates
might vary under varying prepayment and other scenarios. Any difference
between such assumptions and the actual characteristics and performance
of the Mortgage Loans will affect the actual yield, average life,
duration, expected maturity, interest rate sensitivity and cash flow
characteristics of a particular class of Underwritten Certificates.
<PAGE>
-3-
Item 7. Financial Statements, Pro Forma Financial Information and Exhibits
(a) Financial Statements.
Not applicable.
(b) Pro Forma Financial Information.
Not applicable.
(c) Exhibits
Item 601(a) of
Regulation S-K
Exhibit No. Exhibit No. Description
----------- ----------- -----------
1 99 Computational Materials
<PAGE>
-4-
Pursuant to the requirements of the Securities Exchange Act of 1934, the
Registrant has duly caused this report to be signed on behalf of the Registrant
by the undersigned thereunto duly authorized.
RESIDENTIAL ASSET MORTGAGE
PRODUCTS, INC.
By: /s/Julie Steinhagen
Name: Julie Steinhagen
Title: Vice President
Dated: December 21, 2000
<PAGE>
-5-
EXHIBIT INDEX
Item 601 (a) of Sequentially
Exhibit Regulation S-K Numbered
Number Exhibit No. Description Page
------- ----------- ------------------ --------
1 99 Computational Material Filed Electronically
<PAGE>
-6-
EXHIBIT
ADDITIONAL PRICE/YIELD TABLES
GMAC RFC
$308,517,000 (APPROXIMATE)
RAMP Series 2000-RS4 Trust
Residential Asset Mortgage Product, Inc.
Depositor
Residential Funding Corporation
Seller and Master Servicer
The following are certain additional Price/Yield tables. All assumptions are
subject to change.
RESIDENTIAL FUNDING SECURITIES
A GMAC COMPANY
as Underwriter
December 15, 2000
This information should be considered only after reading the Statement Regarding
Assumptions as to Securities, Pricing Estimates and Other Information, which
should be attached. Do not use or rely on this information if you have not
received and reviewed this Statement. You may obtain a copy of the Statement
from your sales representative.
Worldwide Capital Partner
<PAGE>
Statement Regarding Assumptions as to Securities, Pricing Estimates and Other
Information
--------------------------------------------------------------------------------
The information herein has been provided solely by Residential Funding
Securities Corporation ("RFSC") based on information with respect to the
mortgage loans provided by Residential Funding Corporation ("RFC") and its
affiliates. Neither RFC nor any of its affiliates makes any representation as to
the accuracy or completeness of the information herein.
The information herein is preliminary and supersedes any prior information and
will be superseded by the prospectus supplement and by any other information
subsequently filed with the Securities and Exchange Commissions (SEC). All
assumptions and information in this report reflect RFSC's judgment as of this
date and are subject to change. All analyses are based on certain assumptions
noted herein and different assumptions could yield substantially different
results. You are cautioned that there is no universally accepted method for
analyzing financial instruments. You should review the assumptions; there may be
differences between these assumptions and your actual business practices.
Further, RFSC does not guarantee any results and there is no guarantee as to the
liquidity of the instruments involved in this analysis. The decision to adopt
any strategy remains your responsibility. RFSC (or any of its affiliates) or
their officers, directors, analysts or employees may have positions in
securities, commodities or derivative instruments thereon referred to here, and
may, as principal or agent, buy or sell such securities, commodities or
derivative instruments.
In addition, RFSC may make a market in the securities referred to herein.
Neither the information nor the assumptions reflected herein shall be construed
to be, or constitute, an offer to sell or buy or a solicitation of an offer to
sell or buy any securities, commodities or derivative instruments mentioned
herein. No sale of any securities, commodities or derivative instruments should
be consummated without the purchaser first having received a prospectus and, if
required prospectus supplement.
Finally, RFSC has not addressed the legal, accounting and tax implications of
the analysis with respect to you, and RFSC strongly urges you to seek advice
from your counsel, accountant and tax advisor.
<PAGE>
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RAMP2000RS4, Class AI1--Price/Yield
CUSIP Face $66,615,000.00Settle at
Pricing
Coupon 6.82 Original $66,615,000.00Accrual 12/01/2000
Balance begins
Delay 24 Current $66,615,000.00Factor Date N/A
Balance
Stated Maturity N/A Factor 1
Type SEN FIX
YIELD CURVE: Spread off
interpolated node
3MO=5, 6MO=5, 1YR=5, 2YR=5, 5YR=5, 10YR=5,
30YR=5
<TABLE>
<CAPTION>
Price 9CPR, 15CPR 12CPR, 18CPR 15CPR, 20CPR 18CPR, 25CPR 25CPR, 30CPR 30CPR, 40CPR 35CPR, 50CPR Yield
<S> <C> <C> <C> <C> <C> <C> <C> <C>
99.6875 6.831 6.809 6.787 6.764 6.709 6.670 6.628
99.7031 6.822 6.797 6.772 6.747 6.687 6.643 6.597
99.7188 6.813 6.785 6.758 6.730 6.664 6.615 6.565
99.7344 6.803 6.774 6.744 6.713 6.641 6.588 6.533
99.7500 6.794 6.762 6.729 6.696 6.618 6.561 6.502
99.7656 6.784 6.750 6.715 6.679 6.595 6.534 6.470
99.7813 6.775 6.738 6.700 6.663 6.573 6.507 6.438
99.7969 6.765 6.726 6.686 6.646 6.550 6.480 6.407
99.8125 6.756 6.714 6.672 6.629 6.527 6.453 6.375
99.8281 6.746 6.702 6.657 6.612 6.504 6.426 6.343
99.8438 6.737 6.690 6.643 6.595 6.481 6.399 6.312
99.8594 6.728 6.679 6.629 6.578 6.459 6.371 6.280
99.8750 6.718 6.667 6.615 6.562 6.436 6.344 6.249
99.8906 6.709 6.655 6.600 6.545 6.413 6.317 6.217
99.9063 6.699 6.643 6.586 6.528 6.390 6.290 6.185
99.9219 6.690 6.631 6.572 6.511 6.368 6.263 6.154
99.9375 6.680 6.619 6.557 6.494 6.345 6.236 6.122
99.9531 6.671 6.607 6.543 6.478 6.322 6.209 6.091
99.9688 6.662 6.596 6.529 6.461 6.300 6.182 6.059
99.9844 6.652 6.584 6.514 6.444 6.277 6.155 6.028
100.0000 6.643 6.572 6.500 6.427 6.254 6.128 5.996
100.0156 6.633 6.560 6.486 6.411 6.232 6.101 5.965
100.0313 6.624 6.548 6.472 6.394 6.209 6.074 5.933
100.0469 6.615 6.537 6.457 6.377 6.186 6.047 5.902
100.0625 6.605 6.525 6.443 6.360 6.164 6.020 5.870
100.0781 6.596 6.513 6.429 6.343 6.141 5.993 5.839
100.0938 6.586 6.501 6.414 6.327 6.118 5.966 5.808
100.1094 6.577 6.489 6.400 6.310 6.096 5.939 5.776
100.1250 6.568 6.477 6.386 6.293 6.073 5.913 5.745
100.1406 6.558 6.466 6.372 6.277 6.050 5.886 5.713
100.1563 6.549 6.454 6.357 6.260 6.028 5.859 5.682
100.1719 6.539 6.442 6.343 6.243 6.005 5.832 5.651
100.1875 6.530 6.430 6.329 6.226 5.983 5.805 5.619
100.2031 6.521 6.418 6.315 6.210 5.960 5.778 5.588
100.2188 6.511 6.407 6.300 6.193 5.937 5.751 5.557
100.2344 6.502 6.395 6.286 6.176 5.915 5.724 5.525
100.2500 6.493 6.383 6.272 6.160 5.892 5.698 5.494
100.2656 6.483 6.371 6.258 6.143 5.870 5.671 5.463
100.2813 6.474 6.360 6.244 6.126 5.847 5.644 5.431
100.2969 6.465 6.348 6.229 6.109 5.825 5.617 5.400
100.3125 6.455 6.336 6.215 6.093 5.802 5.590 5.369
WAL 1.85 1.45 1.18 1.00 0.73 0.61 0.52
Mod Durn 1.653 1.315 1.088 0.927 0.685 0.576 0.494
Principal Window Jan01 to Jan01 to Jan01 to Jan01 to Jan01 to Jan01 to Jan01 to
Jan05 Feb04 Jul03 Feb03 Jun02 Mar02 Jan02
Total Collat Loss 0.00 0.00 0.00 (0.00%) 0.00 0.00 0.00 0.00 (0.00%)
(0.00%) (0.00%) (0.00%) (0.00%) (0.00%)
Prepay (1) At 9 CPR At 12 CPR At 15 CPR At 18 CPR At 25 CPR At 30 CPR At 35 CPR
Prepay (2) At 15 CPR At 18 CPR At 20 CPR At 25 CPR At 30 CPR At 40 CPR At 50 CPR
Optional Redemption Calls ASAP Calls ASAP Calls ASAP Calls ASAP Calls ASAP Calls ASAP Calls ASAP
(Y/Y) (Y/Y) (Y/Y) (Y/Y) (Y/Y) (Y/Y) (Y/Y)
LIBOR_1MO 6.69875 6.69875 6.69875 6.69875 6.69875 6.69875 6.69875
LIBOR_6MO 6.42 6.42 6.42 6.42 6.42 6.42 6.42
PRIME 9.5 9.5 9.5 9.5 9.5 9.5 9.5
COFI_11 5.589 5.589 5.589 5.589 5.589 5.589 5.589
CMT_1YR 5.7 5.7 5.7 5.7 5.7 5.7 5.7
<PAGE>
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RAMP2000RS4, Class AI2--Price/Yield
CUSIP Face $35,434,000.Settle at
Pricing
Coupon 6.71 Original $35,434,000.Accrual 12/01/2000
Balance begins
Delay 24 Current $35,434,000.Factor Date N/A
Balance
Stated Maturity N/A Factor 1
Type SEN FIX
YIELD CURVE: Spread off
interpolated node
3MO=5, 6MO=5, 1YR=5, 2YR=5, 5YR=5, 10YR=5,
30YR=5
Price 9CPR, 15CPR 12CPR, 18CPR 15CPR, 18CPR, 25CPR 25CPR, 30CPR 30CPR, 35CPR, 50CPR
20CPR 40CPR
Yield
99.3750 6.844 6.853 6.862 6.872 6.897 6.916 6.936
99.4063 6.837 6.844 6.852 6.860 6.881 6.896 6.913
99.4375 6.830 6.836 6.842 6.848 6.864 6.877 6.889
99.4688 6.823 6.827 6.832 6.836 6.848 6.857 6.866
99.5000 6.816 6.819 6.822 6.825 6.832 6.837 6.843
99.5313 6.809 6.810 6.811 6.813 6.816 6.818 6.820
99.5625 6.802 6.802 6.801 6.801 6.799 6.798 6.797
99.5938 6.795 6.793 6.791 6.789 6.783 6.779 6.774
99.6250 6.789 6.785 6.781 6.777 6.767 6.759 6.751
99.6563 6.782 6.776 6.771 6.765 6.751 6.740 6.728
99.6875 6.775 6.768 6.761 6.753 6.735 6.720 6.705
99.7188 6.768 6.759 6.751 6.741 6.718 6.701 6.682
99.7500 6.761 6.751 6.740 6.729 6.702 6.681 6.659
99.7813 6.754 6.743 6.730 6.718 6.686 6.662 6.636
99.8125 6.747 6.734 6.720 6.706 6.670 6.642 6.613
99.8438 6.740 6.726 6.710 6.694 6.654 6.622 6.590
99.8750 6.733 6.717 6.700 6.682 6.638 6.603 6.567
99.9063 6.727 6.709 6.690 6.670 6.621 6.584 6.544
99.9375 6.720 6.700 6.680 6.658 6.605 6.564 6.521
99.9688 6.713 6.692 6.670 6.647 6.589 6.545 6.498
100.0000 6.706 6.683 6.660 6.635 6.573 6.525 6.475
100.0313 6.699 6.675 6.650 6.623 6.557 6.506 6.452
100.0625 6.692 6.667 6.639 6.611 6.541 6.486 6.430
100.0938 6.685 6.658 6.629 6.599 6.525 6.467 6.407
100.1250 6.679 6.650 6.619 6.588 6.509 6.447 6.384
100.1563 6.672 6.641 6.609 6.576 6.492 6.428 6.361
100.1875 6.665 6.633 6.599 6.564 6.476 6.409 6.338
100.2188 6.658 6.624 6.589 6.552 6.460 6.389 6.315
100.2500 6.651 6.616 6.579 6.540 6.444 6.370 6.292
100.2813 6.644 6.608 6.569 6.529 6.428 6.350 6.270
100.3125 6.637 6.599 6.559 6.517 6.412 6.331 6.247
100.3438 6.631 6.591 6.549 6.505 6.396 6.312 6.224
100.3750 6.624 6.582 6.539 6.493 6.380 6.292 6.201
100.4063 6.617 6.574 6.529 6.482 6.364 6.273 6.178
100.4375 6.610 6.566 6.519 6.470 6.348 6.254 6.156
100.4688 6.603 6.557 6.509 6.458 6.332 6.234 6.133
100.5000 6.596 6.549 6.499 6.446 6.316 6.215 6.110
100.5313 6.590 6.540 6.489 6.434 6.300 6.196 6.087
100.5625 6.583 6.532 6.479 6.423 6.284 6.176 6.065
100.5938 6.576 6.524 6.469 6.411 6.268 6.157 6.042
100.6250 6.569 6.515 6.459 6.399 6.252 6.138 6.019
WAL 5.63 4.40 3.58 3.00 2.14 1.75 1.47
Mod Durn 4.531 3.686 3.081 2.631 1.929 1.599 1.357
Principal Window Jan05 to Feb04 to Jul03 to Feb03 to Jun02 to Mar02 to Jan02 to
May08 Oct06 Sep05 Dec04 Oct03 Apr03 Nov02
Total Collat Loss 0.00 0.00 0.00 0.00 0.00 0.00 0.00
(0.00%) (0.00%) (0.00%) (0.00%) (0.00%) (0.00%) (0.00%)
Prepay (1) At 9 CPR At 12 CPR At 15 CPR At 18 CPR At 25 CPR At 30 CPR At 35 CPR
Prepay (2) At 15 CPR At 18 CPR At 20 CPR At 25 CPR At 30 CPR At 40 CPR At 50 CPR
Optional Calls ASAP Calls ASAP Calls ASAP Calls ASAP Calls ASAP Calls ASAP Calls ASAP
Redemption (Y/Y) (Y/Y) (Y/Y) (Y/Y) (Y/Y) (Y/Y) (Y/Y)
LIBOR_1MO 6.69875 6.69875 6.69875 6.69875 6.69875 6.69875 6.69875
LIBOR_6MO 6.42 6.42 6.42 6.42 6.42 6.42 6.42
PRIME 9.5 9.5 9.5 9.5 9.5 9.5 9.5
COFI_11 5.589 5.589 5.589 5.589 5.589 5.589 5.589
CMT_1YR 5.7 5.7 5.7 5.7 5.7 5.7 5.7
RAMP2000RS4, Class AI3--Price/Yield
CUSIP Face $27,140,000.0Settle at
Pricing
Coupon 6.84 Original $27,140,000.0Accrual 12/01/2000
Balance begins
Delay 24 Current $27,140,000.0Factor Date N/A
Balance
Stated Maturity N/A Factor 1
Type SEN FIX
YIELD CURVE: Spread off
interpolated node
3MO=5, 6MO=5, 1YR=5, 2YR=5, 5YR=5, 10YR=5,
30YR=5
Price 9CPR, 15CPR 12CPR, 18CPR 15CPR, 20CPR 18CPR, 25CPR
25CPR, 30CPR 30CPR, 40CPR 35CPR, 50CPR Yield
99.3750 6.964 6.969 6.974 6.979 6.993 7.004 7.016
99.4375 6.955 6.957 6.961 6.964 6.973 6.980 6.987
99.5000 6.945 6.946 6.948 6.949 6.953 6.955 6.958
99.5625 6.935 6.935 6.934 6.934 6.932 6.931 6.930
99.6250 6.926 6.924 6.921 6.918 6.912 6.907 6.901
99.6875 6.916 6.912 6.908 6.903 6.891 6.882 6.872
99.7500 6.906 6.901 6.895 6.888 6.871 6.858 6.843
99.8125 6.897 6.890 6.881 6.873 6.851 6.834 6.814
99.8750 6.887 6.878 6.868 6.858 6.831 6.809 6.786
99.9375 6.878 6.867 6.855 6.842 6.810 6.785 6.757
100.0000 6.868 6.856 6.842 6.827 6.790 6.761 6.728
100.0625 6.858 6.845 6.829 6.812 6.770 6.736 6.699
100.1250 6.849 6.833 6.816 6.797 6.750 6.712 6.671
100.1875 6.839 6.822 6.803 6.782 6.729 6.688 6.642
100.2500 6.830 6.811 6.789 6.767 6.709 6.664 6.614
100.3125 6.820 6.800 6.776 6.751 6.689 6.640 6.585
100.3750 6.811 6.789 6.763 6.736 6.669 6.615 6.556
100.4375 6.801 6.777 6.750 6.721 6.649 6.591 6.528
100.5000 6.792 6.766 6.737 6.706 6.628 6.567 6.499
100.5625 6.782 6.755 6.724 6.691 6.608 6.543 6.471
100.6250 6.773 6.744 6.711 6.676 6.588 6.519 6.442
WAL 8.95 7.24 5.94 5.00 3.57 2.92 2.43
Mod Durn 6.485 5.528 4.728 4.100 3.071 2.564 2.167
Principal Window May08 to Oct06 to Sep05 to Dec04 to Oct03 to Apr03 to Nov02 to
Jun11 Nov09 Apr08 Feb07 May05 Aug04 Jan04
Total Collat Loss 0.00 0.00 0.00 0.00 0.00 0.00 0.00
(0.00%) (0.00%) (0.00%) (0.00%) (0.00%) (0.00%) (0.00%)
Prepay (1) At 9 CPR At 12 CPR At 15 CPR At 18 CPR At 25 CPR At 30 CPR At 35 CPR
Prepay (2) At 15 CPR At 18 CPR At 20 CPR At 25 CPR At 30 CPR At 40 CPR At 50 CPR
Optional Calls ASAP Calls ASAP Calls ASAP Calls ASAP Calls ASAP Calls ASAP Calls ASAP
Redemption (Y/Y) (Y/Y) (Y/Y) (Y/Y) (Y/Y) (Y/Y) (Y/Y)
LIBOR_1MO 6.69875 6.69875 6.69875 6.69875 6.69875 6.69875 6.69875
LIBOR_6MO 6.42 6.42 6.42 6.42 6.42 6.42 6.42
PRIME 9.5 9.5 9.5 9.5 9.5 9.5 9.5
COFI_11 5.589 5.589 5.589 5.589 5.589 5.589 5.589
CMT_1YR 5.7 5.7 5.7 5.7 5.7 5.7 5.7
</TABLE>
<PAGE>
