RESIDENTIAL FUNDING MORTGAGE SECURITIES I INC
8-K, 1999-10-21
ASSET-BACKED SECURITIES
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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 (Date of earliest event reported) October 22, 1999

RESIDENTIAL FUNDING MORTGAGE SECURITIES I, INC. (as company under a Pooling and
Servicing Agreement, dated as of October 1, 1999, providing for, inter alia, the
issuance of Mortgage Pass-Through Certificates, Series 1999-S21)


                 Residential Funding Mortgage Securities I, Inc.
             (Exact name of registrant as specified in its charter)

        DELAWARE                    333-72493             75-2006294
(State or Other Jurisdiction        (Commission       (I.R.S. Employer
of Incorporation)                   File Number)      Identification No.)


 8400 Normandale Lake Blvd.
 Suite 600
 Minneapolis, Minnesota                                   55437
 (Address of Principal                                    (Zip Code)
 Executive Offices)


Registrant's telephone number, including area code, is (612) 832-7000



<PAGE>



Item 5.        Other Events.

        The consolidated  balance  statements of MBIA Insurance  Corporation and
Subsidiaries  as of  December  31,  1998 and  December  31, 1997 and the related
consolidated  statements of income,  changes in shareholder's  equity,  and cash
flows for each of the three years in the period  ending  December 31, 1998,  are
hereby incorporated by reference in this Current Report on Form 8-K and shall be
deemed to be a part hereof.

Item 7.      Financial Statements, Pro Forma Financial Information and Exhibits.

               (a)    Not applicable

               (b)    Not applicable

               (c)    Exhibits:

                             Item 601(a) of
                             Regulation S-K
Exhibit No.                  Exhibit No.         Description

1                            23                  Consent of
                                                 PricewaterhouseCoopers
                                                 LLP, independent auditors of
                                                 MBIA Insurance Corporation
                                                 with respect to the Residential
                                                 Funding Mortgage Securities
                                                 I, Inc. Mortgage Pass-
                                                 Through Certificates, Series
                                                 1999-S21.


<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/ Randy Van Zee
                                            Name:   Randy Van Zee
                                            Title:  Vice President


Dated: October 21, 1999



<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:   Randy Van Zee
                                            Title:  Vice President


Dated: October 21, 1999



<PAGE>


                                  EXHIBIT INDEX


                      Item 601(a) of                           Sequentially
Exhibit               Regulation S-K                           Numbered
Number                Exhibit No.       Description            Page

1                     23                Accountant's Consent


<PAGE>



                                    EXHIBIT 1


                       CONSENT OF INDEPENDENT ACCOUNTANTS



We consent to the  incorporation  by reference in the  Prospectus  Supplement of
Residential  Funding  Mortgage  Securities  I, Inc.,  relating  to RFMSI  Series
1999-S21  Trust,  of our report  dated  February  2, 1999,  on our audits of the
consolidated financial statements of MBIA Insurance Corporation and Subsidiaries
as of December 31, 1998 and December 31, 1997 and for each of the three years in
the period ended December 31, 1998. We also consent to the reference to our Firm
under the caption "Experts".

                                               /s/PricewaterhouseCoopers LLP


Dated: October 19, 1999


<PAGE>





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