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: May 31, 1995
(Date of earliest event reported)
Residential Asset Securities Corporation
(Exact name of registrant as specified in its charter)
Delaware 33-56893 51-0362653
(State or Other Juris- (Commission (I.R.S. Employer
diction of Incorporation) File Number) Identification No.)
8400 Normandale Lake Blvd., Suite 600,Minneapolis,Minnesota 55437
(Address of Principal Executive Office) (ZipCode)
Registrant's telephone number, including area code:(612) 832-7000
Item 5. Other Events.
On June 28, 1995, the Registrant expects to cause the
issuance and sale of Mortgage Pass-Through Certificates,
Series 1995-KS1 (the "Certificates") pursuant to a Pooling
and Servicing Agreement to be dated as of June 1, 1995,
among the Registrant, Residential Funding Corporation, as
Master Servicer, and The First National Bank of Chicago, as
Trustee.
In connection with the expected sale of the Series
1995- KS1 Certificates, the Registrant has been advised by
Residential Funding Securities Corporation (the
"Underwriter"), that the Underwriter has furnished to
prospective investors certain collateral information with
respect to the mortgage loans underlying the proposed
offering of the Certificates (the "Collateral Term Sheets"),
which Collateral Term Sheets are being filed manually as
exhibits to this report.
The Collateral Term Sheets have been provided by the
Underwriter. The information in the Collateral Term Sheets
is preliminary and will be superseded by the Prospectus
Supplement relating to the Certificates and by any other
information subsequently filed with the Securities and
Exchange Commission.
The Collateral Term Sheets consist of the first 5 pages
that appear after the Form SE cover sheet and the page
headed "NOTICE".
The Collateral Term Sheets were prepared by the
Underwriter at the request of certain prospective investors.
The Collateral Term Sheets may be based on information that
differs from the information set forth in the Prospectus
Supplement.
In addition, the actual characteristics and performance
of the mortgage loans underlying the Certificates may differ
from the information provided in the Collateral Term Sheets,
which were provided to certain investors only to give a
sense of the underlying collateral which will effect the
maturity, interest rate sensitivity and cash flow
characteristics of the Certificates. Any difference between
the collateral information in the Collateral Term Sheets and
the actual characteristics of the mortgage loans will affect
the actual yield, average life, duration, expected maturity,
interest rate sensitivity and cash flow characteristics of
the Certificates.
Item 7. Financial Statements, Pro Forma Financial Information
and Exhibits
(a) Financial Statements.
Not applicable.
(b) Pro Forma Financial Information.
Not applicable.
(c) Exhibits
Item 601(a) of
Regulation S-K
Exhibit No. Exhibit No. Description
1 99 Collateral Term Sheets
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.
RESIDENTIAL ASSET
SECURITIES CORPORATION
By: /s/ William E.Waldusky
Name: William E.Waldusky
Title:Vice President
Dated: May 31, 1995 EXHIBIT INDEX
Item 601 (a) of Sequentially
Exhibit Regulation S-K Numbered
Number Exhibit No. Description Page
1 99 Collateral Term Sheets Filed
Manually
NOTICE
(Intentionally Omitted)
