- --------------------------------------------------------------------------------
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) December 28, 1998
STRUCTURED ASSET MORTGAGE INVESTMENTS INC.
- --------------------------------------------------------------------------------
(Exact name of registrant as specified in its charter)
Delaware 333-51279 13-3633241
- ---------------------------- ----------- ----------------
(State or Other Jurisdiction (Commission (I.R.S. Employer
of Incorporation) File Number) Identification No.)
245 Park Avenue
New York, New York 10167
(Address of Principal ----------
Executive Offices) (Zip Code)
Registrant's telephone number, including area code, is (212) 272-2000
<PAGE>
-2-
Item 5. OTHER EVENTS.
On or about December 31, 1998, the Registrant will cause the
issuance and sale of approximately $276,408,252 initial principal
amount of Mortgage Pass-Through Certificates, Series 1998-12 (the
"Certificates") pursuant to a Pooling and Servicing Agreement to be
dated as of December 1, 1998, among the Registrant as seller, Norwest
Bank Minnesota, N.A. as trustee and Cendant Mortgage Corporation as
master servicer.
In connection with the sale of the Series 1998-12, Class A-1,
Class A-2, Class A-3, Class A-4, Class A-5, Class A-6, Class A-7, Class
A-8, Class A-9, Class X, Class R-I, Class R-II, Class B-1, Class B-2
and Class B-3 Certificates (the "Underwritten Certificates"), the
Registrant has been advised by Bear, Stearns & Co. Inc. (the
"Underwriter"), that the Underwriter has furnished to prospective
investors certain computational materials (the "Computational
Materials") with respect to the Underwritten Certificates following the
effective date of Registration Statement No. 333-51279, 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preliminary and may be superseded by the Prospectus Supplement relating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
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 the 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 the Underwritten Certificates.
<PAGE>
-3-
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-- Computational
Materials (as defined in Item 5) that
have been provided by the Underwriter to
certain prospective purchasers of
Structured Asset Mortgage Investors Inc.
Mortgage Pass-Through Certificates,
Series 1998-12 (filed in paper pursuant
to the automatic SEC exemption pursuant
to Release 33-7427, August 7, 1997)
<PAGE>
-4-
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.
STRUCTURED ASSET MORTGAGE
INVESTMENTS INC.
By: /s/ Mary Haggerty
-------------------------------
Name: Mary Haggerty
Title: Vice President
Dated: December 29, 1998
<PAGE>
-5-
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.
STRUCTURED ASSET MORTGAGE
INVESTMENTS INC.
By:
-------------------------------
Name:
Title:
Dated: December 29, 1998
<PAGE>
-6-
EXHIBIT INDEX
Item 601 (a) of Sequentially
Exhibit Regulation S-K Numbered
Number Exhibit No. Description Page
------ ----------- ----------- ----
1 99 Computational Materials 6
<PAGE>
-6-
EXHIBIT 99
