SERIES 1996-S5 8-K COMPUTATIONAL MATERIAL
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 (Date of earliest event reported):
February 22, 1996
Residential Funding Mortgage Securities I, Inc.
(Exact name of registrant as specified in its charter)
DELAWARE 33-54227 75-2006294
(State or other (Commission (I.R.S. employer
jurisdition of file number) identification
incorporation) no.)
8400 Normandale Lake Blvd., Suite 600, Minneapolis, MN
(Address of principal executive offices) 55437
(Zip code)
Registrant's telephone number, including area code
(612) 832-7000
(Former name or former address, if changed since last
report)
Item 5. Other Events.
On February 29, 1996 Registrant will issue
$119,444,684.72 initial principal amount of Mortgage Pass-
Through Certificates, Series 1996-S5, Class A-1, Class
A-2, Class A-3, Class A-4, Class R, Class M-1, Class M-2, Class
M-3 (the "Offered Certificates"), Class B-1, Class B-2 and Class
B-3
(together with the Offered Certificates, the
"Certificates") pursuant to a Pooling and Servicing
Agreement to be dated as of February 1, 1996, among the
Registrant, Residential Funding Corporation, as Master
Servicer, and The First National Bank of Chicago, as
Trustee.
In connection with the sale of the Series 1996-
S5 Class A-1, Class A-2, Class A-3, Class R,
Certificates (the "Merrill Lynch Underwritten Certificates") and
the Class M-1 and Class M-2 (the
"RFSC Underwritten Certificates"), which
together with the Merryl Lynch Underwritten Certificates
are hereinafter referred to collectively as the
"Underwritten Certificates", the Registrant has been
advised by Merryl Lynch Pierce Fenner & Smith Inc. and
Residential Funding Securities
Corporation (collectively, 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
the Registrant's Registration Statement (No. 33-54227)
but prior to the availability of a final Prospectus
relating to the Underwritten Certificates, which
Computational Materials are being filed manually as
exhibits to this report.
The Computational Materials filed herewith have been
provided solely 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superseded by the Prospectus Supplement relating to the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 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.
Certain assumptions may have been made in the
Computational Materials which have resulted in certain
returns which are detailed in the Computational
Materials. No representation is made that any returns
set forth in the Computational Materials will be
achieved. Changes to the assumptions may have a material
impact on any returns detailed. Past performance is not
indicative of future results.
Item 7. Financial Statements, Pro Forma Financial
Information and Exhibits.
(a) Not applicable
(b) Not applicable
(c) Exhibits
99.1 Computational Materials prepared by
Merrill Lynch in
connection with the sale of the
Merrill Lynch Underwritten
Certificates of the Registrant.
99.2 Computational Materials prepared by
Residential Funding Securities
Corporation in connection
with the sale of the Residential
Funding Securities Corporation
Underwritten Certificates
of the Registrant.
SIGNATURES
Pursuant to the requirements of the Securities
Exchange Act of 1934, the registrant has duly caused this
report to be signed on its behalf by the undersigned
thereunto duly authorized.
RESIDENTIAL FUNDING MORTGAGE
SECURITIES I, INC.
By: \\ Bruce J. Legan
Name: Bruce J. Legan
Title: Vice President
Dated: February 22, 1996
INDEX OF EXHIBITS
Exhibit Description Page
99.1 Computational Materials prepared by
Merrill Lynch in
connection with the sale of the
Merrill Lynch Underwritten
Certificates of the Registrant.
99.2 Computational Materials prepared by
Residential Funding Securities
Corporation in connection
with the sale of the Residential
Funding Securities Corporation
Underwritten Certificates
of the Registrant.
