MLCC MORTGAGE INVESTORS INC
8-K, 1997-03-20
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 Exchange Act of 1934


Date of Report (Date of Earliest event reported):  March 19, 1997

                        MLCC Mortgage Investors, Inc.
                                                                       
- -----------------------------------------------------------------------
      (Exact name of registrant as specified in its character)



                            Delaware
                                                                      
- ----------------------------------------------------------------------
        (State or other jurisdiction of incorporation or organization)


  333-14253                             59-3247986
                                                                      
- ----------------------------------------------------------------------
(Commission File Number)      (IRS Employer Identification No.)


          MLCC Mortgage Investors, Inc.
          4802 Deer Lake Drive East
          Jacksonville, FL  32246
          Attention: General Counsel

________________________________________________________________
    (Address of principal executive offices and zip code)


Registrant's telephone number, including area code: 904-928-6000


                      Not applicable
_________________________________________________________________
(Former name or former address, if changed since last report)

Item 5.   Other Events
          ------------

Filing of Independent Auditors' Consent.
- ---------------------------------------

     Filed herewith,  as an  exhibit to  registrant's registration  statement
(registration  no. 333-14253), is  the Independent Auditors'  Consent of KPMG
Peat Marwick LLP.

Incorporation by reference of Financial Statements of AMBAC Indemnity
- ---------------------------------------------------------------------
Corporation
- -----------

     The consolidated financial statements of AMBAC Indemnity Corporation and
its subsidiaries as of December 31, 1996  and 1995, and for each of the years
in the three-year period ended December 31, 1996, prepared in accordance with
generally accepted accounting principles, and the report with respect thereto
dated January 30, 1997 of KPMG Peat Marwick LLP, in each case included in the
Current Report  on Form 8-K  of AMBAC Inc.  dated March 12,  1997 (Commission
File Number 1-10777),  are hereby incorporated by reference  into this report
on Form 8-K  and into the  registrant's registration statement  (registration
no. 333-14253).

Item 7.   Financial Statements, Pro Forma Financial
          -----------------------------------------
          Information and Exhibits.
          ------------------------

(a)  Not applicable.

(b)  Not applicable.

(c)  Exhibits:

     23.4      Independent Auditors Consent of KPMG Peat Marwick LLP

     99.       Consolidated   Financial   Statements   of   AMBAC   Indemnity
               Corporation and its  subsidiaries as of December  31, 1996 and
               1995, and for each of the three years in the three-year period
               ended  December  31,  1996, prepared  in  accordance  with the
               generally accepted  accounting principles, and the report with
               respect thereto dated  January 30, 1997  of KPMG Peat  Marwick
               LLP (in  each case, incorporated  by reference to  the Current
               Report  on  Form  8-K  of  AMBAC Inc.  dated  March  12,  1997
               (Commission File Number 1-10777))


SIGNATURES
- ----------

     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.

                                   MLCC MORTGAGE INVESTORS, INC.



                                   By: /s/Laurel A. Davis     
                                       --------------------------
                                        Laurel A. Davis
                                        Vice President & 
Assistant Secretary


Dated:    March 19, 1997


                                Exhibit Index
                                -------------


Exhibit                                                                  Page
- -------                                                                ----

23.4                                                                        6


                              EXHIBIT 23.4


                        INDEPENDENT AUDITORS' CONSENT

The Board of Directors
AMBAC Indemnity Corporation:

     We  consent to  the  incorporation  by  reference  in  the  registration
statement  (no. 333-14253)  on  Form  S-3 of  MLCC  Mortgage Investors,  Inc.
("Registrant")  of our  report dated  January 30,  1997 with  respect  to the
consolidated  financial   statements  of  AMBAC  Indemnity   Corporation  and
subsidiaries as of December 31, 1996 and  1995, and for each of the years  in
the three-year period  ended December 31,  1996, which report appears  in the
Form 8-K of AMBAC Inc. dated March 12, 1997, and to the reference to our firm
under the  heading "Experts" in  the Prospectus Supplement of  the Registrant
dated March 19, 1997.


                              KPMG Peat Marwick LLP


New York, New York
March 19, 1997



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