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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: January 25, 1999
(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 5Other Events.
On January 28, 1999, the Registrant will cause the issuance and sale
of approximately $522,274,252.73 initial principal amount of Mortgage
Pass-Through Certificates, Series 1999-S3, Class A-1, Class A-2, Class
A-3, Class A-4, Class A-5, Class A-6, Class A- 7, Class A-P, Class A-V,
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 January 1, 1999, 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 1999-S3, Class A-1, Class
A-2, Class A-3, Class A-4, Class A-5, Class A-6, Class A-7 and Class R
Certificates, other than a de minimis portion of the Class R Certificates,
(the "PaineWebber Underwritten Certificates"), to PaineWebber Incorporated
("PaineWebber") and the sale of the Series 1999-S3, Class M-1, Class M-2
and Class M-3 Certificates, (the "Salomon Underwritten Certificates";
together with the PaineWebber Underwritten Certificates, the "Underwritten
Certificates") to Salomon Smith Barney Inc. ("Salomon"; together with
PaineWebber, the "Underwriters"), the Registrant has been advised by the
Underwriters that the Underwriters have 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. 330-57481, which
Computational Materials are being filed manually as exhibits to this
report.
The Computational Materials 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 information subsequently filed with the Securities and
Exchange Commission.
The Computational Materials consist of the first 9 pages (the
"Computational Materials") that appear after the Form SE cover sheet and
the page headed "NOTICE". The Underwriters have 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 Underwriters 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.
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In addition, the actual characteristics and performance of the
mortgage loans underlying the Underwritten Certificates (the "Mortgage
Loans") 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 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: Randal L. Van Zee
Title: Vice President
Dated: January 25, 1999
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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/ Randal L. Van Zee
Name: Randal L. Van Zee
Title:Vice President
Dated: January 25, 1999
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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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