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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: March 23, 1998
(Date of earliest event reported)
Residential Funding Mortgage Securities I, Inc.
(Exact name of registrant as specified in its charter)
Delaware 333-39665 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 March 30, 1998, the Registrant will cause the issuance and
sale of approximately $255,535,035.80 initial principal amount of
Mortgage Pass-Through Certificates, Series 1998-S7, Class A-1, Class
A-2, Class A-3, 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 March 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-S7, Class A-1,
Class A-2, Class A-3, and Class R Certificates, other than a de minimis
portion of each of the Class R Certificates (the "PaineWebber
Underwritten Certificates"), to PaineWebber 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. 33-39665, 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preliminary and may be superseded by the Prospectus Supplement relating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: March 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/Randy Van Zee
Name: Randy Van Zee
Title: Vice President
Dated: March 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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