RESIDENTIAL FUNDING MORTGAGE SECURITIES I, INC.
Company
RESIDENTIAL FUNDING CORPORATION
Master Servicer
Mortgage Pass-Through Certificates
Series 1995-S21
$6,698,830.79 7.50% Class M-1 Certificates
$4,465,953.73 7.50% Class M-2 Certificates
$2,977,235.94 7.50% Class M-3 Certificates
Supplement dated April 2, 1996
to
Prospectus Supplement dated December 20, 1995
and
Prospectus dated April 20, 1995
as supplemented by the Prospectus dated
January 23, 1996
The Class M-1 Certificates, the Class M-2
Certificates and the Class M-3 Certificates
(collectively, the "Class M Certificates") will be
purchased from the Company by Salomon Brothers Inc (the
"Underwriter"), pursuant to an agreement (the
"Underwriting Agreement") among the Company, the Master
Servicer and the Underwriter. The proceeds to the
Company from the sale of the Class M Certificates will be
equal to $14,916,605.64, net of any expenses payable by
the Company.
The Underwriter intends to offer the Class M
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 Underwriter may
effect such transactions by selling the Class M
Certificates to or through dealers. In connection with
the purchase and sale of the Class M Certificates, the
Underwriter and any dealers that may participate with the
Underwriter in such resale of the Class M Certificates
may be deemed to have received compensation from the
Company in the form of discounts or commissions or, in
the case of such dealers, compensation from the
Underwriter in the form of discounts, concessions or
commissions. 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 Certificates. There can be no assurance
that an active secondary market will develop, or if it
does develop, that it will continue.
THIS SUPPLEMENT MUST BE DELIVERED TOGETHER WITH THE
PROSPECTUS
AND PROSPECTUS SUPPLEMENT REFERRED TO ABOVE, AND SHOULD
BE READ IN CONJUNCTION THEREWITH.
Salomon Brothers Inc
The Mortgage Pool consists of 1,054 Mortgage Loans
with an outstanding aggregate principal balance as of
March 1, 1996 (the "Reference Date"), after deducting
payments of principal due on such date, of
$283,972,478.01.
The Certificate Principal Balances of the Class M-1
Certificates, the Class M-2 Certificates, the Class M-3
Certificates, the Class B-1 Certificates, the Class B-2
Certificates, and the Class B-3 Certificates after the
March 25, 1996 Distribution Date, will be $6,698,830.79,
$4,465,953.73, $2,977,235.94, $1,786,341.57 $744,259.08
and $1,191,622.61, respectively. After the March 25,
1996 Distribution Date, the Class M-1 Certificates will
evidence a Class M-1 Percentage of approximately 2.36%,
the Class M-2 Certificates will evidence a Class M-2
Percentage of approximately 1.57%, the Class M-3
Certificates will evidence a Class M-3 Percentage of
approximately 1.05%, the Class B-1 Certificates will
evidence a Class B-1 Percentage of approximately 0.63%,
the Class B-2 Certificates will evidence a Class B-2
Percentage of approximately 0.26%, and the Class B-3
Certificates will evidence a Class B-3 Percentage of
approximately 0.42%.
As of the Reference Date, twenty-one Mortgage Loans,
representing 0.2% of the Mortgage Loans were one month
delinquent. As of the Reference Date, three Mortgage
Loans, representing 0.1% of the Mortgage Loans were two
months delinquent. As of the Reference Date, none of the
Mortgage Loans were three months or more delinquent or in
foreclosure.
UNTIL JULY 1, 1996, ALL DEALERS EFFECTING TRANSACTIONS IN
THE CLASS M CERTIFICATES, WHETHER OR NOT PARTICIPATING IN
THIS DISTRIBUTION, MAY BE REQUIRED TO DELIVER A
PROSPECTUS (INCLUDING THE PROSPECTUS SUPPLEMENT AND THIS
SUPPLEMENT). THIS 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.
