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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 18, 1998
(Date of earliest event reported)
MERRILL LYNCH MORTGAGE INVESTORS, INC. (as depositor under the Trust Agreement,
dated as of March 1, 1998, and pursuant to which an Indenture was entered into,
providing for, inter alia, the issuance of PacificAmerica Home-Equity Loan
Asset-Backed Notes, Series 1998-1)
Merrill Lynch Mortgage Investors, Inc.
(Exact name of registrant as specified in its charter)
Delaware 333-24327 33-3416059
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(State or Other Juris- (Commission (I.R.S. Employer
diction of Incorporation) File Number) Identification No.)
250 Vesey Street World Financial Center,
North Tower-10th Floor,
New York, New York 10281
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(Address of Principal Executive Office) (Zip Code)
Registrant's telephone number, including area code:(212) 449-1000
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Item 5. OTHER EVENTS.
On or about March 26, 1998, the Registrant will cause the
issuance and sale of approximately $130,000,000 initial principal
amount of Home-Equity Loan Asset-Backed Notes, Series 1998-1 (the
"Notes") pursuant to an Indenture to be dated as of March 1, 1998,
among PacificAmerica Home Equity Loan Trust Series 1998-1, as issuer,
and Bankers Trust Company of California, N.A., as indenture trustee.
In connection with the sale of the Series 1998-1 Notes (the
"Underwritten Notes"), the Registrant has been advised by Merrill
Lynch, Pierce, Fenner & Smith Incorporated (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 Notes following the
effective date of Registration Statement No. 333-24327, which
Computational Materials are being filed 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preliminary and may be superseded by the Prospectus Supplement relating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 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
home equity loans underlying the Underwritten Notes (the "Home Equity
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 the Underwritten Notes might vary
under varying prepayment and other scenarios. Any difference between
such assumptions and the actual characteristics and performance of the
Home Equity Loans will affect the actual yield, average life, duration,
expected maturity, interest rate sensitivity and cash flow
characteristics of the Underwritten Notes.
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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
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1 99 Computational Materials--
Computational Materials (as defined
in Item 5) that have been provided
by the Underwriter to certain
prospective purchasers of The
PacificAmerica Home Equity Loan
Asset-Backed Notes, Series 1998-1
(filed in paper pursuant to the
automatic SEC exemption pursuant to
Release 33-7427, August 7, 1997)
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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.
MERRILL LYNCH MORTGAGE INVESTORS,
INC.
By: /s/ Peter Cerwin
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Name: Peter Cerwin
Title: Vice President
Dated: March 18, 1998
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EXHIBIT INDEX
Item 601 (a) of Sequentially
Exhibit Regulation S-K Numbered
Number Exhibit No. Description Page
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1 99 Computational Materials 6
EXHIBIT 99
