Residential Asset Securities Corporation
Company
Residential Funding Corporation
Master Servicer
Mortgage Pass-Through Certificates, Series 1996-KS1
Supplement dated June 19, 1996
to
Prospectus Supplement dated March 21, 1996
and
Prospectus dated June 22, 1995
Capitalized terms used herein and not otherwise defined
herein have the meanings assigned in the Prospectus
Supplement dated March 21, 1996 (the "Prospectus
Supplement").
In the third paragraph on page S-2 in the Prospectus
Supplement, the second sentence will be replaced in its
entirety with the following:
As described herein, interest
payable with respect to each
Distribution Date on the Class A
Certificates will accrue during the
Accrual Period (as defined herein).
In the paragraph under the caption "SUMMARY-Interest
Distributions", in the Prospectus Supplement, the second
sentence will be replaced in its entirety with the
following:
On or before the Distribution Date
in June, 1996, interest payable with
respect to each Distribution Date on
the Class A Certificates will accrue
during the period commencing on the
25th day of the month immediately
preceding the month in which such
Distribution Date occurs and ending
on the 24th day of the month in
which such Distribution Date occurs
(each such period, an "Accrual
Period"). With respect to any
Distribution Date on or after the
Distribution Date in July, 1996, the
Accrual Period shall be the period
commencing on the Distribution Date
of the month immediately preceding
the month in which such Distribution
Date occurs and ending on the day
preceding such Distribution Date.
Residential Funding Securities Corporation
In addition, after the first sentence in the second
paragraph under the caption "DESCRIPTION OF THE
CERTIFICATES-Interest Distributions" in the Prospectus
Supplement, insert the following:
On or before the Distribution Date
in June, 1996, interest payable with
respect to each such Distribution
Date on the Class A Certificates
will accrue during the period
commencing on the 25th day of the
month immediately preceding the
month in which such Distribution
Date occurs and ending on the 24th
day of the month in which such
Distribution Date occurs (each such
period, an "Accrual Period"). With
respect to any Distribution Date on
or after the Distribution Date in
July, 1996, the Accrual Period shall
be the period commencing on the
Distribution Date of the month
immediately preceding the month in
which such Distribution Date occurs
and ending on the day preceding such
Distribution Date.
THIS SUPPLEMENT MUST BE DELIVERED TOGETHER WITH THE
PROSPECTUS AND PROSPECTUS SUPPLEMENT REFERRED TO ABOVE,
AND SHOULD BE READ IN CONJUNCTION THEREWITH.
Residential Funding Securities Corporation
