CAPCO AMERICA SECURITIZATION CORP
8-K, 1998-09-24
ASSET-BACKED SECURITIES
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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 and Exchange Act of 1934


Date of Report:  September 23, 1998
- -----------------------------------
(Date of earliest event reported)


                    CAPCO America Securitization Corporation
- --------------------------------------------------------------------------------
             (Exact name of registrant as specified in its charter)

    Delaware                   333-22133                         13-3672336
- --------------------------------------------------------------------------------
(State or Other               (Commission                     (I.R.S. Employer
Jurisdiction of               File Number)                   Identification No.)
 Incorporation)

        Two World Financial Center, Building B, New York, New York 10281
- --------------------------------------------------------------------------------
                      Address of Principal Executive Office


       Registrant's telephone number, including area code: (212) 667-9300
<PAGE>

Item 5. Other Events.

     Attached as an exhibit to this Current  Report are certain  materials  (the
"Computational Materials and Collateral Term Sheets") furnished to CAPCO America
Securitization    Corporation   (the    "Registrant")   by   Nomura   Securities
International,   Inc.  (the  "Underwriter"),  in  respect  of  the  Registrant's
Commercial   Mortgage   Pass-Through    Certificates,    Series   1998-D7   (the
"Certificates"). The Certificates are being offered pursuant to a Prospectus and
related Prospectus Supplement (together, the "Prospectus"),  which will be filed
with the Commission pursuant to Rule 424(b)(5) under the Securities Act of 1933,
as amended (the "Act").  The Certificates  have been registered  pursuant to the
Act  under  a  Registration   Statement  on  Form  S-3  (No.   333-22133)   (the
"Registration Statement").  The Registrant hereby incorporates the Computational
Materials and Collateral Term Sheets by reference in the Registration Statement.

     The Computational Materials and Collateral Term Sheets were prepared solely
by the  Underwriter,  and the  Registrant  did not prepare or participate in the
preparation of the Computational Materials and Collateral Term Sheets.

     Any statement or information  contained in the Computational  Materials and
Collateral Term Sheets 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, Pro Forma Financial Information and Exhibits

(c)  Exhibits

              Item 601(a) of Regulation S-K 
                       Exhibit No.                         Description
              -----------------------------       ---------------------------
                           99                     Computational Materials and
                                                    Collateral Term Sheets
 
<PAGE>

     Pursuant to the  requirements of the Securities Act of 1934, the Registrant
has duly  caused  this  report to be signed on behalf of the  Registrant  by the
undersigned thereunto duly authorized.

                                          CAPCO AMERICA SECURITIZATION
                                          CORPORATION


                                          By: /s/ Marlyn A. Marincas
                                             --------------------------
                                              Name: Marlyn A. Marincas
                                              Title: Director

Date:  September 23, 1998
<PAGE>

                                  Exhibit Index

Format          Item 601(a) of
Electronic (E)  Regulation S-K
or Paper (P)    Exhibit No.     Description                                 Page
- ------------    -----------     -----------                                 ----

P               99              Computational Materials and Collateral        5
                                   Term Sheets
<PAGE>

                                                                       Exhibit 1

                              Computational Materials and Collateral Term Sheets


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