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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): July 26, 1999
STRUCTURED ASSET MORTGAGE INVESTMENTS INC.
(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
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(Address of Principal (Zip Code)
Executive Offices)
Registrant's telephone number, including area code (212) 272-2000
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<PAGE>
Item 5. Other Events.
Filing of Computational Materials
On or about July 30, 1999, the Registrant will cause the issuance and
sale of the GMACM Mortgage Loan Trust 1999-J1, Mortgage Pass-Through
Certificates, Series 1999-J1 (the "Certificates") pursuant to a Pooling and
Servicing Agreement dated as of July 1, 1999, among the Registrant, as seller,
GMAC Mortgage Corporation, as servicer, and Norwest Bank Minnesota, National
Association, as trustee.
In connection with the sale of the Series 1999-J1, 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 X, 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 in paper format on Form SE dated July
29, 1999.
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superseded by the Prospectus Supplement relating to the Certificates and by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>
Item 7. Financial Statements, Pro Forma Financial Information and Exhibits.
(a) Not applicable.
(b) Not applicable.
(c) Exhibits:
99.1 Computational Materials (as defined in Item 5) that have
been provided by the Underwriter to certain prospective
purchasers of the GMACM 1999-J1, Mortgage Pass-Through
Certificates, Series 1999-J1(filed in paper pursuant to the
automatic SEC exemption pursuant to Release 33-7427, August
7, 1997)
<PAGE>
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, as
amended, the registrant has duly caused this report to be signed on its behalf
by the undersigned hereunto duly authorized.
STRUCTURED ASSET MORTGAGE
INVESTMENTS INC.
By: /s/ Baron Silverstein
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Name: Baron Silverstein
Title: Vice President
Dated: July 28, 1999
<PAGE>
Exhibit Index
Exhibit Page
99.1 Computational Materials (as defined in Item 5) that have been
provided by the Underwriter to certain prospective purchasers
of the GMACM 1999-J1, Mortgage Pass-Through Certificates,
Series 1999-J1(filed in paper pursuant to the automatic SEC
exemption pursuant to Release 33-7427, August 7, 1997) 6
<PAGE>
IN ACCORDANCE WITH RULE 311 OF REGULATION S-T, THESE COMPUTATIONAL MATERIALS
ARE BEING FILED IN PAPER
Exhibit 99.1
COMPUTATIONAL MATERIALS
for
STRUCTURED ASSET MORTGAGE INVESTMENTS INC.
GMACM Mortgage Loan Trust 1999-J1
Mortgage Pass-Through Certificates, Series 1999-J1
