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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) December 28, 1999
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
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(Address of Principal (Zip Code)
Executive Offices)
Registrant's telephone number, including area code, is (212) 272-2000
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Item 5. Other Events.
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On or about December 29, 1999, the Registrant will cause the
issuance and sale of approximately $82,751,959 initial principal amount
of Pass-Through Certificates, Series 1999-5 (the "Certificates")
pursuant to a Pooling Agreement to be dated as of December 1, 1999,
among the Registrant as seller and U.S. Bank Trust National Association
as trustee.
In connection with the sale of the Series 1999-5, Class A-1,
Class A-2, Class A-3, Class PO and Class R 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preliminary and may be superseded by the Prospectus Supplement relating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 pass-through securities underlying the Underwritten
Certificates (the "Underlying Pooled Certificates") 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 Underlying Pooled Certificates
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.
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Not applicable.
(b) PRO FORMA Financial Information.
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Not applicable.
(c) Exhibits
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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
Structured Asset Mortgage Investors
Inc. Pass-Through Certificates, Series
1999-5 (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/ Joseph T. Jurkowski, Jr.
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Name: Joseph T. Jurkowski, Jr.
Title: Vice President/Secretary
Dated: December 30, 1999