Residential Funding Mortgage Securities I, Inc.
Depositor
Residential Funding Corporation
Master Servicer
Mortgage Pass-Through Certificates
Series 1999-S9
$4,961,920.30 6.75% Class A-P Certificates
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Supplement dated April 27,1999
to
prospectus supplement dated April 26, 1999
to
prospectus dated July 23, 1998
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Donaldson, Lufkin & Jenrette Securities Corporation will offer to the
public the Class A-P Certificates, in negotiated transactions or otherwise,
directly or through dealers, at varying prices to be determined at the time of
sale. The underwriter's commission will be the difference between the price it
pays to the depositor for the Class A-P Certificates and the amount it receives
from the sale of the Class A-P Certificates to the public. The proceeds to the
depositor from the sale of the Class A-P Certificates to the underwriter will be
$3,243,855 before deducting expenses.
The Class A-P Certificates will be offered pursuant to an underwriting
agreement among the depositor, the master servicer and the underwriter. The
underwriter and any dealers that may participate with the underwriter in the
resale of the Class A-P Certificates may receive compensation from the depositor
in the form of discounts or commissions or, in the case of dealers, compensation
from the underwriter in the form of discounts, concessions or commissions. The
underwriting agreement provides that the depositor will indemnify the
underwriter against certain civil liabilities under the Securities Act of 1933,
as amended, or contribute to payments required to be made in respect thereof.
There is currently no secondary market for the Class A-P Certificates. There can
be no assurance that an active secondary market will develop, or if it does
develop, that it will continue.
This supplement may be used to offer or sell the certificates offered
hereby only if accompanied by the prospectus supplement and prospectus.
Dealers will be required to deliver a supplement, prospectus supplement
and prospectus when acting as underwriters of the certificates offered hereby
and with respect to their unsold allotments or subscriptions. In addition, all
dealers selling the Class A-P Certificates, whether or not participating in this
offering, may be required to deliver a supplement, prospectus supplement and
prospectus until July 27, 1999.
Donaldson, Lufkin & Jenrette
Underwriter
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