RESIDENTIAL FUNDING MORTGAGE SECURITIES I, INC.
Company
RESIDENTIAL FUNDING CORPORATION
Master Servicer
Mortgage Pass-Through Certificates
Series 1995-S8
$2,809,400* 8.00% Class M-1 Certificates
Supplement dated August 7, 1995
to
Prospectus Supplement dated May 24, 1995
and
Prospectus dated April 20, 1995
* Initial Certificate Principal Balance
The Class M-1 Certificates will be offered by
Residential Funding Securities Corporation (the
-Underwriter"), on a best-efforts basis pursuant to an
Underwriting Agreement (the "Underwriting Agreement")
among the Company, the Master Servicer and the
Underwriter.
The Underwriter is an indirect wholly-owned subsidiary of
the parent of the Company.
(Continued on following page)
THIS SUPPLEMENT MUST BE DELIVERED TOGETHER WITH THE
PROSPECTUS AND PROSPECTUS SUPPLEMENT REFERRED TO ABOVE,
AND SHOULD BE READ IN CONJUNCTION THEREWITH.
Residential Funding Securities Corporation
The obligation of the Underwriter to pay for and accept
delivery of any of the Class M-1 Certificates is subject
to, among other things, the simultaneous sale by the
Underwriter of such Class M-1 Certificates. The
termination date of the offering of the Class M-1
Certificates is the earlier to occur of August 7, 1996 or
the date on which all of the Class M-1 Certificates have
been sold. Proceeds of the offering of the Class M-1
Certificates will not be placed in any escrow, trust or
similar arrangement. The Underwriter intends to offer the
Class M-1 Certificates from time to time to the public in
negotiated transactions or otherwise at varying prices to
be determined at the time of sale. The proceeds to the
Company from the sale of the Class M-1 Certificates will
be equal to 100.671875% times the outstanding Certifcate
Principal Balance of the Class M-1 Certificates sold,
plus appropriate adjustments for accrued interest
thereon, net of any expenses payable by the Company. The
Underwriter may effect such transactions by selling the
Class M-1 Certificates to or through dealers and such
dealers may receive compensation in the form of
underwriting discounts, concessions or commissions from
the Underwriter for whom they act as agent. In
connection with the sale of the Class M-1 Certificates,
the Underwriter may be deemed to have received
compensation from the Company in the form of underwriting
compensation. The Underwriter and any dealers that
participate with such Underwriter in the distribution of
the Class M-1 Certificates may be deemed to be
underwriters and any profit on the resale of the Class M-
1 Certificates positioned by them may be deemed to be
underwriting discounts and commissions under the
Securities Act of 1933.
The Underwriting Agreement provides that the Company
will indemnify the Underwriter against certain civil
liabilities under the Securities Act of 1933, or
contribute to payments required to be made in respect
thereof. There is currently no secondary market for the
Class M-1 Certificates. There can be no assurance that
a secondary market will develop, or if it does develop,
that it will continue.
As of July 1, 1995, (the -Reference Date-), the
Mortgage Loans have an aggregate principal balance
outstanding, after deducting payments of principal due on
such date, of $95,935,751.32.
As of the Reference Date, 1.0% of the Mortgage Loans
are delinquent by one month. As of the Reference Date,
none of the Mortgage Loans are delinquent by two or more
months, in foreclosure or Real Estate Owned.
UNTIL NOVEMBER 5, 1995, ALL DEALERS EFFECTING
TRANSACTIONS IN THE Class M-1 CERTIFICATES, WHETHER OR
NOT PARTICIPATING IN THIS DISTRIBUTION, MAY BE REQUIRED
TO DELIVER A PROSPECTUS (INCLUDING THE PROSPECTUS
SUPPLEMENT AND THIS SUPPLEMENT). THE DELIVERY
REQUIREMENT IS IN ADDITION TO THE OBLIGATION OF DEALERS
TO DELIVER A PROSPECTUS WHEN ACTING AS UNDERWRITERS AND
WITH RESPECT TO THEIR UNSOLD ALLOTMENTS OR SUBSCRIPTIONS.
