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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) November 24, 1998
STRUCTURED ASSET MORTGAGE INVESTMENTS INC.
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(Exact name of registrant as specified in its charter)
DELAWARE 333-51279 13-3633241
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(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
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Item 5. OTHER EVENTS.
On or about November 30, 1998, the Registrant will cause the
issuance and sale of approximately $245,226,989 initial principal
amount of Mortgage Pass-Through Certificates, Series 1998-11 (the
"Certificates") pursuant to a Pooling and Servicing Agreement to be
dated as of November 1, 1998, among the Registrant, as depositor,
Norwest Bank Minnesota, N.A., as master servicer, Provident Funding
Associates, L.P., as servicer and The First National Bank of Chicago,
as trustee.
In connection with the sale of the Series 1998-11, 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 A-10, Class A-11, Class A-12, Class A-13,
Class A-14, Class A-15, Class A-16, Class A-17, Class A- 18, Class PO,
Class R, 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 yield tables and other
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preliminary and may be superseded by the Prospectus Supplement relating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.
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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 Structured Asset Mortgage
Investors Inc. Mortgage
Pass-Through Certificates, Series
1998-11 (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.
STRUCTURED ASSET MORTGAGE
INVESTMENTS INC.
By: /s/ Mary Haggerty
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Name: Mary Haggerty
Title: Managing Director
Dated: November 25, 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
[TPW: NY05:7004212.2] 17297-00000 11/12/98 11:17AM
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EXHIBIT 99
