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): November 23, 1998
Residential Funding Mortgage Securities I, Inc.
(Exact name of registrant as specified in its charter)
DELAWARE 333-57481 75-2006294
(State or other (Commission file number) (I.R.S. employer
jurisdiction of identification no.)
incorporation)
8400 Normandale Lake Blvd., Suite 600, Minneapolis, MN 55437
(Address of principal executive offices) (Zip code)
Registrant's telephone number, including area code: (612) 832-7000
- ------------------------------------------------------------------------------
(Former name or former address, if changed since last report)
Exhibit Index located on page 4.
<PAGE>
Items 1 through 6 and Item 8 are not included because they are not applicable.
Item 5. Other Events.
The Registrant will establish a trust (the "Trust") with respect to
Mortgage Pass-Through Certificates, Series 1998-NS2 (the "Certificates")
on or about November 24, 1998 pursuant to a pooling and servicing
agreement among the Registrant, Residential Funding Corporation and
Bankers Trust Company, as trustee (the "Trustee"), dated as of November 1,
1998. The Registrant on behalf of the Trust hereby undertakes that, for
purposes of determining any liability under the Securities Act of 1993, as
amended, each filing of the Trustee's annual report pursuant to section
13(a) or section 15(d) of the Exchange Act of 1934, as amended (the
"Exchange Act") and each filing of the financial statements of Financial
Security Assurance Inc. included in or as an exhibit to the annual report
of Financial Security Assurance Holdings Ltd. filed pursuant to section
13(a) or section 15(d) of the Exchange Act that is incorporated by
reference in the prospectus supplement for Series 1998-NS2 (the
"Prospectus Supplement") be deemed to be incorporated by reference into
the registration statement (No.333-57481) of the Registrant (the
"Registration Statement"), which Registration Statement shall be deemed to
be a new registration statement relating to the Certificates offered
pursuant to the Prospectus Supplement, and the offering of such
Certificates at that time shall be deemed to be the initial bona fide
offering thereof.
Item 7. Financial Statements, Pro Forma Financial Information and Exhibits.
(a) Not applicable
(b) Not applicable
(c) Exhibits
23. Consent of PricewaterhouseCoopers LLP, independent auditors of
FSA with respect to (a) the incorporation by reference in the Prospectus
Supplement of their report dated January 26, 1998 on the audit of the
consolidated financial statements of FSA and its subsidiaries as of December 31,
1997 and 1996 and for each of the years in the three-year period ended December
31, 1997 and (b) with respect to the reference to their firm under the caption
"Experts" in the Prospectus Supplement.
1 2
<PAGE>
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: /s/Randal L. VanZee
Name: Randal L. VanZee
Title:Vice President
Dated: November 23, 1998
3
<PAGE>
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:
Name: Randal L. VanZee
Title:Vice President
Dated: November 23, 1998
4
<PAGE>
Exhibit 23
Consent of Independent Auditors of FSA
CONSENT OF INDEPENDENT ACCOUNTANTS
We consent to the incorporation by reference in the in the Prospectus Supplement
of Residential Funding Mortgage Securities I, Inc. relating to Mortgage
Pass-Through Certificates, Series 1998- NS2 of our report dated January 26, 1998
on our audits of the consolidated financial statements of Financial Security
Assurance Inc. and Subsidiaries as of December 31, 1997 and 1996, and for each
of the years in the period ended December 31, 1997. We also consent to the to
the reference to our firm under the caption "Experts".
/s/ PricewaterhouseCoopers LLP
November 23, 1998
5
<PAGE>
