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FILED PURSUANT TO RULE 424(b)(3)
REGISTRATION NO. 033-47913
SUPPLEMENT TO
PROSPECTUS SUPPLEMENT DATED MARCH 30, 2000
(TO PROSPECTUS DATED MARCH 30, 2000)
$230,440,604
(Approximate)
CMC SECURITIES CORPORATION III
ISSUER
COLLATERALIZED MORTGAGE OBLIGATIONS, SERIES 2000-1
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The prospectus supplement dated March 30, 2000 to the prospectus dated
March 30, 2000 with respect to the above captioned series of bonds is hereby
amended as follows:
PAGE S-41: The third and fourth sentences in the second
paragraph under the heading "WEIGHTED AVERAGE LIFE"
are hereby amended and restated in its entirety to
read as follows:
For the Adjustable Rate Mortgage Loans, a
100% prepayment assumption assumes
prepayment rates of 6% per annum of the then
outstanding principal balance of such
Mortgage Loans in the first month of the
life of the Mortgage Loans and increasing by
24/17% per annum in each month thereafter
until the eighteenth month. Beginning in the
eighteenth month and in each month
thereafter during the life of the Mortgage
Loan, 100% of the prepayment assumption
assumes a constant prepayment rate of 30%
per annum.
Item (13) referenced in the third paragraph under the
heading "WEIGHTED AVERAGE LIFE" is hereby amended and
restated in its entirety to read as follows:
(13) the optional right to purchase the Mortgage
Loans described herein is exercised by the Class X
Bondholder or the Master Servicer;
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The date of this Supplement is April 24, 2000
