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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: October 23, 1997
(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
[CTSRASC.WPD December 7, 1995]
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Item 5Other Events.
On November 25, 1997, the Registrant expects to cause the issuance
and sale of Mortgage Pass-Through Certificates, Series 1997-KS4 (the
"Certificates") pursuant to a Pooling and Servicing Agreement to be dated
as of November 1, 1997, 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 1997-KS4
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 ("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superseded by the Description of the Mortgage Pool contained in the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 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.
[CTSRASC.WPD December 7, 1995]
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Item 7Financial 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
[CTSRASC.WPD December 7, 1995]
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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/ Timothy A. Kruse
Name: Timothy A. Kruse
Title: Vice President
Dated: October 23, 1997
[CTSRASC.WPD December 7, 1995]
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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:________________________
Name: Timothy A. Kruse
Title: Vice President
Dated: October 23, 1997
[CTSRASC.WPD December 7, 1995]
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EXHIBIT INDEX
Item 601 (a) of Sequentially
Exhibit Regulation S-K Numbered
Number Exhibit No. Description Format
1 99 Collateral Term P
Sheets
[CTSRASC.WPD December 7, 1995]
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EXHIBIT 1
(Intentionally Omitted)
[CTSRASC.WPD December 7, 1995]
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