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: September 8, 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) (Zip Code)
Registrant's telephone number, including area code:(612) 832-7000
Item 5. Other Events.
On September 28, 1995, the Registrant expects to cause
the issuance and sale of Mortgage Pass-Through Certificates,
Series 1995-KS3 (the "Certificates") pursuant to a Pooling and
Servicing Agreement to be dated as of September 1, 1995, among
the Registrant, Residential Funding Corporation, as Master
Servicer, and Bankers Trust Company, as Trustee.
In connection with the expected sale of the Series
1995-KS3 Certificates, the Registrant has been advised by Bear,
Stearns & Co. Inc. (the "Underwriter"), that the Underwriter has
furnished to prospective investors certain collateral information
with respect to the mortgage loans ("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preliminary and will be superseded by the Description of the
Mortgage Pool contained in 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 7 pages
that appear after the Form SE cover sheet and the page headed
"NOTICE" and supersedes all collateral information contained
in any Collateral Term Sheets related to the Mortgage Loans
previously provided by the Underwriter.
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/ Teresa Rae Farley, Esq.
Name: Teresa Rae Farley, Esq.
Title: Vice President
Dated: September 9, 1995
EXHIBIT INDEX
Item 601 (a) of Sequentially
Exhibit Regulation S-K Numbered
Number Exhibit No. Description Page
1 99 Collateral Term Filed
Sheets Manually
EXHIBIT
(Intentionally Omitted)
