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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: July 23, 1998
(Date of earliest event reported)
Residential Funding Mortgage Securities I, Inc.
(Exact name of registrant as specified in its charter)
Delaware 333-57481 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
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Item 5. Other Events.
On July 30, 1998, the Registrant will cause the issuance and sale of
approximately $152,776,676 initial principal amount of Mortgage Pass-Through
Certificates, Series 1998-S16, Class A-1, Class A-2, Class A-3, Class A-4, Class
A-5, Class R, Class M-1, Class M-2, Class M-3, Class B-1, Class B-2 and Class
B-3 (the "Certificates") pursuant to a Pooling and Servicing Agreement to be
dated as of July 1, 1998, 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 1998-S16, Class A-1, Class A-2,
Class A- 3 and Class R Certificates, other than a de minimis portion of the
Class R Certificates (the "Underwritten Certificates"), to Merrill Lynch,
Pierce, Fenner & Smith Incorporated (the "Underwriter") the Registrant has been
advised by the Underwriter that the Underwriter has 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 Registration Statement No. 33-57481, which
Computational Materials are being filed manually as exhibits to this report.
The Computational Materials have been provided by the Underwriter. 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information in the Computational Materials is preliminary and may be superseded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 consist of the first 99 pages (the
"Computational Materials") that appear after the Form SE cover sheet and the
page headed "NOTICE". The Underwriter has advised the Registrant that certain
information in the Computational Materials may have been based on assumptions
that differed from the final pool information.
The Computational Materials were prepared by the Underwriter 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 be based on assumptions that differ from the
assumptions set forth in the 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 Underwritten Certificates (the "Mortgage Loans") may differ
from the
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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.
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
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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:
Name: Randy Van Zee
Title: Vice President
Dated: July 23, 1998
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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/Diane M. Wold
Name: Diane M. Wold
Title: Vice President
Dated: July 23, 1998
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EXHIBIT INDEX
Item 601 (a) of Sequentially
Exhibit Regulation S-K Numbered
Number Exhibit No. Description Page
1 99 Computational Materials Filed Manually
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EXHIBIT
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