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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: October 28, 1997
(Date of earliest event reported)
CMC SECURITIES CORPORATION IV
(Exact name of Registrant as specified in its charter)
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<S> <C> <C>
Delaware 33-47912 75-2431915
(State of Incorporation) (Commission File No.) (I.R.S. Employer
Identification No.)
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2711 N. Haskell Avenue
Suite 900
Dallas, Texas 75204
(Address of Principal executive offices) (Zip Code)
Registrant's Telephone Number, Including Area Code: (214) 874-2323
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Item 5. Other Events.
Reference is hereby made to the Registrant's Registration Statement on
Form S-3 (File No. 33-47912) filed with the Securities and Exchange Commission
(the "Commission") on May 14, 1992, as amended by Amendment No. 1 thereto filed
with the Commission on August 7, 1992, as further amended by Post Effective
Amendment No. 1 thereto filed with the Commission on August 17, 1994
(collectively, the "Registration Statement"), pursuant to which the Registrant
registered $2,000,000,000 aggregate principal amount of its collateralized
mortgage obligations, issuable in various series, for sale in accordance with
the provisions of the Securities Act of 1933, as amended (the "Act"). Reference
is also hereby made to the Prospectus dated September 26, 1997 and the related
Prospectus Supplement, dated October 28, 1997 (collectively, the "Prospectus"),
which are being filed with the Commission concurrently herewith pursuant to Rule
424(b)(5), with respect to the Registrant's Collateralized Mortgage Obligations,
Series 1997-2 (the "Securities").
The Registrant is filing this Current Report on Form 8-K to provide
prospective investors with certain materials which constitute "Computational
Materials" within the meaning of the no-action letter dated May 20, 1994 issued
by the Division of Corporation Finance of the Commission to Kidder, Peabody
Acceptance Corporation I, Kidder, Peabody & Co. Incorporated, and Kidder
Structured Asset Corporation and the no-action letter dated May 27, 1994 issued
by the Division of Corporation Finance of the Commission to the Public
Securities Association (together, the "Kidder Letters"), the filing of which
materials is a condition of the relief granted in such letters (such materials
being the "Computational Materials"). The Computational Materials were prepared
solely by Lehman Brothers Inc. in connection with the offering of the
Certificates, and the Registrant did not prepare or participate in the
preparation of the Computational Materials. The Computational Materials are set
forth in Exhibit 28.1 hereto.
The assumptions used in preparing the Computational Materials were based
upon a preliminary compilation of the underlying collateral and the estimated
principal amount and other features of the Certificates. The actual features of
the Certificates and a detailed description of the final constituency of the
underlying collateral are set forth in the Prospectus.
Due to the preliminary nature of the collateral and Certificate
information used in preparing the Computational Materials, no assurance can be
given as to either the Computational Materials' or the underlying assumptions'
accuracy, appropriateness or completeness in any particular context; nor can
assurance be given as to whether the Computational Materials and/or the
assumptions upon which they are based reflect present market conditions or
future market performance. These Computational Materials should not be
construed as either projections or predictions or as legal, tax, financial or
accounting advice.
Any yields or weighted average lives shown in the Computational
Materials are based on prepayment assumptions, and changes in such prepayment
assumptions may dramatically affect such yields or weighted average lives. In
addition, it is possible that prepayments on the collateral will occur at rates
slower or faster than the rates shown in the attached Computational Materials.
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Furthermore, unless otherwise provided, the Computational Materials
assume no losses on the collateral and no interest shortfall. The specific
characteristics of the Certificates may differ from those shown in the
Computational Materials due to differences between the actual collateral and the
hypothetical collateral used in preparing the Computational Materials. As noted
above, the principal amount and designation of any security described in the
Computational Materials are subject to change prior to issuance.
Please be advised that mortgage-backed securities may not be appropriate
for all investors. Potential investors must be willing to assume, among other
things, market price volatility, mortgage prepayments, yield curve and interest
rate risks. Investors should make every effort to consider the risks of these
securities.
Any statement or information contained in the Computational Materials
shall be deemed to be modified or superseded for purposes of the Prospectus and
the Registration Statement by statements or information contained in the
Prospectus.
Item 7. Financial Statements and Exhibits.
(c) Exhibits
Exhibit No. Description
*28.1 Computational Materials provided by Donaldson,
Lufkin & Jenrette Securities Corporation
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*The Registrant is filing Exhibit 28.1 to this Current Report on Form
8-K on paper with the Commission under cover of Form SE concurrently with this
EDGAR filing.
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Signature
Pursuant to the requirements of the Securities Exchange Act of 1934, the
Registrant has duly caused this Report to be signed on its behalf by the
undersigned hereunto duly authorized.
CMC SECURITIES CORPORATION IV
October 28, 1997 By: /s/ WADE WALKER
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Wade Walker,
Vice President - Asset and
Liability Management
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