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: November 21, 1996
(Date of earliest event reported)
Residential Funding Mortgage Securities I, Inc.
(Exact name of registrant as specified in its charter)
Delaware 333-54227 75-2006294
(State or Other Juris- (Commission (I.R.S. Employer
diction of 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
Item 5. Other Events.
On November 26, 1996, the Registrant expects to cause
the issuance and sale of Mortgage Pass-Through
Certificates, Series 1996-S23 (the "Certificates")
pursuant to a Pooling and Servicing Agreement to be
dated as of November 1, 1996, among the Registrant,
Residential Funding Corporation, as Master Servicer,
and Bankers Trust Company, as Trustee.
In connection with the expected sale of the Series
1996-S23, Classes A-1,A-2, A-3, A-4, A-5, A-6, A-7, A-8, A-
9, A-10, A-11,A-12,A-13,A-15,A-16, R-I, R-II,
Certificates (the "Donaldson,Lufkin & Jenrette
Underwritten Certificates"), and the Class M-1,M-2 and M-3 (the
"Residential Funding Securities Corporation Underwritten
Certificates"). The Donaldson,Lufkin & Jenrette certificates along with the
Residential Funding Securities Corporation underwritten certificates
are hereinafter referred to collectively
as the "Underwritten Certificates"), the Registrant has
been advised by Donaldson,Lufkin & Jenrette and RFSC (collectively, the
"Underwriters")
that the Underwriters have furnished to prospective
investors certain computational materials (the
"Computational Materials") with respect to the
Underwritten Certificates following the effective date
of the related Registration Statement, which
Computational Materials are being filed manually as an
exhibit to this report.
The Computational Materials filed herewith as Exhibit
99 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preliminary and may be superseded by the Prospectus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 related 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 investors.
The Computational Materials may be based on assumptions
that differ from the assumptions set forth in the
related 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
Certificates 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 may very
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 used therein 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) 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
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 FUNDING MORTGAGE
SECURITIES I, INC.
By: /s/ Randy Van Zee
Name: Randy Van Zee
Title: Vice President
Dated: November 21, 1996
EXHIBIT INDEX
Item 601 (a) of Sequentially
Exhibit Regulation S-K Numbered
Number Exhibit No. Description Format
1 99 Computational P
Materials
EXHIBIT 1
(Intentionally Omitted)
