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)
December 25, 1998
RESIDENTIAL ASSET SECURITIES CORP
(Exact name of the registrant as specified in its charter)
Delaware 333-30789 51-0362653
(State or other (Commission File Number) (I.R.S Employee
jurisdiction of Identification No.)
incorporation)
8400 Normandale Lake Boulevard 55437
Minneapolis, Minnesota (Zip Code)
(Address of Principal Executive Offices)
Registrant's telephone number, including area code
(612) 832-7000
Item 5. Other Events
See the respective monthly reports, each reflecting the required information for
the December 1998 distribution to holders of the following series of Conduit
Mortgage Pass-Through Certificates.
Master Serviced by Residential Funding Corporation
1995-KS1 RASC
1995-KS2 RASC
1995-KS3 RASC
1995-KS4 RASC
1996-KS1 RASC
<PAGE>
1996-KS2 RASC 1996-KS3 RASC 1996-KS4 RASC 1996-KS5 RASC 1997-KS1 RASC 1997-KS2
RASC 1997-KS3 RASC 1997-KS4 GR1RASC 1998-KS1 RASC 1998-KS2 RASC 1998-KS3 RASC ->
Item 7. Financial Statements and Exhibits
(a) See attached monthly reports
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed onits behalf by the
undersigned thereunto duly authorized.
RESIDENTIAL ASSET SECURITIES CORP
By: /s/Davee Olson
Name: Davee Olson
Title: Chief Financial Officer
Dated: December 25, 1998
<PAGE>
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed onits behalf by the
undersigned thereunto duly authorized.
RESIDENTIAL ASSET SECURITIES CORP
By:
Name: Davee Olson
Title: Chief Financial Officer
Dated: December 25, 1998
<PAGE>
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RESIDENTIAL FUNDING CORPORATION (MASTER SERVICER)
RESIDENTIAL ASSET SECURITIES CORPORATION (COMPANY)
MORTGAGE PASS-THROUGH CERTIFICATES SERIES 1995-KS1(POOL # 4173)
STATEMENT TO CERTIFICATEHOLDERS
DISTRIBUTION SUMMARY FOR POOL# 4173
_______________________________________________________________________________
PRINCIPAL CURRENT
ORIGINAL BALANCE BEFORE PASS-THROUGH PRINCIPAL
CLASS CUSIP FACE VALUE DISTRIBUTION RATE DISTRIBUTION
_______________________________________________________________________________
A 76110WAB2 94,350,062.00 14,611,058.06 5.712500 % 352,210.52
R 0.00 2,539,196.66 0.000000 % 0.00
- -------------------------------------------------------------------------------
94,350,062.00 17,150,254.72 352,210.52
===============================================================================
_______________________________________________________________________________
REMAINING
INTEREST TOTAL DEFERRED REALIZED PRINCIPAL
DISTRIBUTION DISTRIBUTION INTEREST LOSSES BALANCE
_______________________________________________________________________________
A 76,499.86 428,710.38 0.00 0.00 14,258,847.54
R 0.00 0.00 68,790.68 0.00 2,607,987.34
- -------------------------------------------------------------------------------
76,499.86 428,710.38 68,790.68 0.00 16,866,834.88
===============================================================================
_______________________________________________________________________________
AMOUNTS PER $1,000 UNIT
_______________________________________________________________________________
BEGINNING ENDING
BALANCE PRINCIPAL INTEREST TOTAL DEFERRED BALANCE
CLASS FACTOR FACTOR FACTOR DISTRIBUTION INTEREST FACTOR
_______________________________________________________________________________
A 154.860079 3.733018 0.810809 4.543827 0.000000 151.127061
_______________________________________________________________________________
DETERMINATION DATE 21-December-98
DISTRIBUTION DATE 28-December-98
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RESIDENTIAL FUNDING CORPORATION (MASTER SERVICER)
RESIDENTIAL ASSET SECURITIES CORPORATION (COMPANY)
MORTGAGE PASS-THROUGH CERTIFICATES 1995-KS1 (POOL # 4173)
STATEMENT TO CERTIFICATEHOLDERS
ADDITIONAL RELATED INFORMATION FOR POOL 4173
_______________________________________________________________________________
SERVICING COMPENSATION RECEIVED BY SUB-SERVICER 6,656.27
SERVICING COMPENSATION RECEIVED BY MASTER SERVICER 347.28
SUBSERVICER ADVANCES THIS MONTH 9,838.87
MASTER SERVICER ADVANCES THIS MONTH 1,739.04
NUMBER OF PRINCIPAL
DELINQUENCIES: LOANS BALANCE
(A) ONE MONTHLY PAYMENT: 4 182,774.50
(B) TWO MONTHLY PAYMENTS: 2 131,272.92
(C) THREE OR MORE MONTHLY PAYMENTS: 2 184,290.84
FORECLOSURES
NUMBER OF LOANS 7
AGGREGATE PRINCIPAL BALANCE 541,319.49
SCHEDULED PRINCIPAL BALANCE OF MORTGAGE LOANS AFTER
DISTRIBUTION 16,866,834.88
AGGREGATE NUMBER OF LOANS IN THE POOL AS OF THE
DETERMINATION DATE 169
NUMBER OF REO LOANS ACQUIRED
INCLUDING ANY PENDING CASH LIQUIDATIONS 2
BOOK VALUE OF REAL ESTATE ACQUIRED THROUGH
FORECLOSURE OR GRANT OF A DEED IN LIEU OF
FORECLOSURE, INCLUDING ANY PENDING CASH LIQUIDATIONS 193,129.11
REMAINING SUBCLASS INTEREST SHORTFALL 0.00
CLASS A SHORTFALL (PRINCIPAL) 0.00
CLASS A SHORTFALL (INTEREST) 0.00
TOTAL PREPAYMENTS INCLUDED IN THIS DISTRIBUTION 273,118.75
TOTAL REPURCHASES INCLUDED IN THIS DISTRIBUTION 0.00
DISTRIBUTION PERCENTAGES:
SENIOR SUBORDINATE
PERCENTAGE FOR CURRENT DISTRIBUTION 85.19440850 % 14.80559150 %
CURRENT PREPAYMENT PERCENTAGE 100.00000000 % 0.00000000 %
PERCENTAGE FOR NEXT DISTRIBUTION 84.53777870 % 15.46222130 %
BANKRUPTCY AMOUNT AVAILABLE 100,000.00
FRAUD AMOUNT AVAILABLE 212,441.00
SPECIAL HAZARD AMOUNT AVAILABLE 1,238,927.00
ENDING GROSS WEIGHTED AVERAGE INTEREST RATE 10.76341948
ENDING WEIGHTED AVERAGE MATURITY, IN MONTHS 312.72
POOL TRADING FACTOR: 17.87686677
................................................................................
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RESIDENTIAL FUNDING CORPORATION (MASTER SERVICER)
RESIDENTIAL ASSET SECURITIES CORPORATION (COMPANY)
MORTGAGE PASS-THROUGH CERTIFICATES SERIES 1995-KS2(POOL # 4179)
STATEMENT TO CERTIFICATEHOLDERS
DISTRIBUTION SUMMARY FOR POOL# 4179
_______________________________________________________________________________
PRINCIPAL CURRENT
ORIGINAL BALANCE BEFORE PASS-THROUGH PRINCIPAL
CLASS CUSIP FACE VALUE DISTRIBUTION RATE DISTRIBUTION
_______________________________________________________________________________
A 76110WAC0 105,461,520.00 22,062,329.41 5.562500 % 1,642,449.33
R 0.00 1,403,938.82 0.000000 % 42,895.26
- -------------------------------------------------------------------------------
105,461,520.00 23,466,268.23 1,685,344.59
===============================================================================
_______________________________________________________________________________
REMAINING
INTEREST TOTAL DEFERRED REALIZED PRINCIPAL
DISTRIBUTION DISTRIBUTION INTEREST LOSSES BALANCE
_______________________________________________________________________________
A 111,305.07 1,753,754.40 0.00 0.00 20,419,880.08
R 77,814.04 120,709.30 0.00 0.00 1,361,043.56
- -------------------------------------------------------------------------------
189,119.11 1,874,463.70 0.00 0.00 21,780,923.64
===============================================================================
_______________________________________________________________________________
AMOUNTS PER $1,000 UNIT
_______________________________________________________________________________
BEGINNING ENDING
BALANCE PRINCIPAL INTEREST TOTAL DEFERRED BALANCE
CLASS FACTOR FACTOR FACTOR DISTRIBUTION INTEREST FACTOR
_______________________________________________________________________________
A 209.197908 15.573921 1.055409 16.629330 0.000000 193.623988
_______________________________________________________________________________
DETERMINATION DATE 21-December-98
DISTRIBUTION DATE 28-December-98
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RESIDENTIAL FUNDING CORPORATION (MASTER SERVICER)
RESIDENTIAL ASSET SECURITIES CORPORATION (COMPANY)
MORTGAGE PASS-THROUGH CERTIFICATES 1995-KS2 (POOL # 4179)
STATEMENT TO CERTIFICATEHOLDERS
ADDITIONAL RELATED INFORMATION FOR POOL 4179
_______________________________________________________________________________
SERVICING COMPENSATION RECEIVED BY SUB-SERVICER 8,706.36
SERVICING COMPENSATION RECEIVED BY MASTER SERVICER 0.00
SUBSERVICER ADVANCES THIS MONTH 29,438.82
MASTER SERVICER ADVANCES THIS MONTH 669.99
NUMBER OF PRINCIPAL
DELINQUENCIES: LOANS BALANCE
(A) ONE MONTHLY PAYMENT: 8 1,240,125.17
(B) TWO MONTHLY PAYMENTS: 2 249,856.84
(C) THREE OR MORE MONTHLY PAYMENTS: 4 176,129.25
FORECLOSURES
NUMBER OF LOANS 15
AGGREGATE PRINCIPAL BALANCE 1,639,757.20
SCHEDULED PRINCIPAL BALANCE OF MORTGAGE LOANS AFTER
DISTRIBUTION 21,780,923.64
AGGREGATE NUMBER OF LOANS IN THE POOL AS OF THE
DETERMINATION DATE 225
NUMBER OF REO LOANS ACQUIRED
INCLUDING ANY PENDING CASH LIQUIDATIONS 1
BOOK VALUE OF REAL ESTATE ACQUIRED THROUGH
FORECLOSURE OR GRANT OF A DEED IN LIEU OF
FORECLOSURE, INCLUDING ANY PENDING CASH LIQUIDATIONS 56,689.82
REMAINING SUBCLASS INTEREST SHORTFALL 0.00
CLASS A SHORTFALL (PRINCIPAL) 0.00
CLASS A SHORTFALL (INTEREST) 0.00
TOTAL PREPAYMENTS INCLUDED IN THIS DISTRIBUTION 1,672,106.31
TOTAL REPURCHASES INCLUDED IN THIS DISTRIBUTION 0.00
DISTRIBUTION PERCENTAGES:
SENIOR SUBORDINATE
PERCENTAGE FOR CURRENT DISTRIBUTION 94.01720460 % 5.98279540 %
CURRENT PREPAYMENT PERCENTAGE 100.00000000 % 0.00000000 %
PERCENTAGE FOR NEXT DISTRIBUTION 93.75121280 % 6.24878720 %
BANKRUPTCY AMOUNT AVAILABLE 100,000.00
FRAUD AMOUNT AVAILABLE 403,772.00
SPECIAL HAZARD AMOUNT AVAILABLE 1,490,390.00
ENDING GROSS WEIGHTED AVERAGE INTEREST RATE 10.41614536
ENDING WEIGHTED AVERAGE MATURITY, IN MONTHS 315.87
POOL TRADING FACTOR: 20.65295812
................................................................................
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RESIDENTIAL FUNDING CORPORATION (MASTER SERVICER)
RESIDENTIAL ASSET SECURITIES CORPORATION (COMPANY)
MORTGAGE PASS-THROUGH CERTIFICATES SERIES 1995-KS3(POOL # 4181)
STATEMENT TO CERTIFICATEHOLDERS
DISTRIBUTION SUMMARY FOR POOL# 4181
_______________________________________________________________________________
PRINCIPAL CURRENT
ORIGINAL BALANCE BEFORE PASS-THROUGH PRINCIPAL
CLASS CUSIP FACE VALUE DISTRIBUTION RATE DISTRIBUTION
_______________________________________________________________________________
A1-I 76110FZE6 36,305,000.00 0.00 8.000000 % 0.00
A2-I 76110FZF3 26,280,000.00 0.00 8.000000 % 0.00
A3-I 76110FZG1 19,819,000.00 13,570,843.67 8.000000 % 984,810.65
A4-I 76110WAG1 16,482,000.00 16,482,000.00 8.000000 % 0.00
A5-I 76110WAH9 11,122,743.00 11,122,743.00 8.000000 % 0.00
A-II 76110WAJ5 41,561,444.00 15,380,165.06 8.000000 % 18,690.10
R 76110WAK2 100.00 0.00 8.000000 % 0.00
B1-I 1,946,488.25 152,282.16 8.120000 % 330.35
B2-I 760,800.00 0.00 8.120000 % 0.00
B3-I 988,100.00 0.00 8.120000 % 0.00
B1-II 1,125,622.41 754,489.31 8.120000 % 898.68
B2-II 259,759.02 0.00 8.120000 % 0.00
B3-II 346,345.37 0.00 8.120000 % 0.00
SPRED 0.00 0.00 1.983989 % 0.00
- -------------------------------------------------------------------------------
156,997,402.05 57,462,523.20 1,004,729.78
===============================================================================
_______________________________________________________________________________
REMAINING
INTEREST TOTAL DEFERRED REALIZED PRINCIPAL
DISTRIBUTION DISTRIBUTION INTEREST LOSSES BALANCE
_______________________________________________________________________________
A1-I 0.00 0.00 0.00 0.00 0.00
A2-I 0.00 0.00 0.00 0.00 0.00
A3-I 90,461.93 1,075,272.58 0.00 0.00 12,586,033.02
A4-I 109,867.42 109,867.42 0.00 0.00 16,482,000.00
A5-I 74,143.13 74,143.13 0.00 0.00 11,122,743.00
A-II 102,532.26 121,222.36 0.00 0.00 15,361,474.96
R 0.00 0.00 0.00 0.00 0.00
B1-I 1,030.32 1,360.67 0.00 0.00 151,951.81
B2-I 0.00 0.00 0.00 0.00 0.00
B3-I 0.00 0.00 0.00 0.00 0.00
B1-II 5,105.27 6,003.95 0.00 0.00 753,590.63
B2-II 0.00 0.00 0.00 0.00 0.00
B3-II 0.00 0.00 0.00 0.00 0.00
SPRED 94,995.82 94,995.82 0.00 0.00 0.00
- -------------------------------------------------------------------------------
478,136.15 1,482,865.93 0.00 0.00 56,457,793.42
===============================================================================
_______________________________________________________________________________
AMOUNTS PER $1,000 UNIT
_______________________________________________________________________________
BEGINNING ENDING
BALANCE PRINCIPAL INTEREST TOTAL DEFERRED BALANCE
CLASS FACTOR FACTOR FACTOR DISTRIBUTION INTEREST FACTOR
_______________________________________________________________________________
A1-I 0.000000 0.000000 0.000000 0.000000 0.000000 0.000000
A2-I 0.000000 0.000000 0.000000 0.000000 0.000000 0.000000
A3-I 684.739072 49.690229 4.564404 54.254633 0.000000 635.048843
A4-I 1000.000000 0.000000 6.665903 6.665903 0.000000 1000.000000
A5-I 1000.000000 0.000000 6.665903 6.665903 0.000000 1000.000000
A-II 370.058486 0.449698 2.467004 2.916702 0.000000 369.608788
R 0.000000 0.000000 0.000000 0.000000 0.000000 0.000000
B1-I 78.234307 0.169716 0.529322 0.699038 0.000000 78.064593
B2-I 0.000000 0.000000 0.000000 0.000000 0.000000 0.000000
B3-I 0.000000 0.000000 0.000000 0.000000 0.000000 0.000000
B1-II 670.286326 0.798385 4.535508 5.333893 0.000000 669.487944
B2-II 0.000000 0.000000 0.000000 0.000000 0.000000 0.000000
B3-II 0.000000 0.000000 0.000000 0.000000 0.000000 0.000000
SPRED 0.000000 0.000000 0.000000 0.000000 0.000000 0.000000
_______________________________________________________________________________
DETERMINATION DATE 21-December-98
DISTRIBUTION DATE 28-December-98
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RESIDENTIAL FUNDING CORPORATION (MASTER SERVICER)
RESIDENTIAL ASSET SECURITIES CORPORATION (COMPANY)
MORTGAGE PASS-THROUGH CERTIFICATES 1995-KS3 (POOL # 4181)
STATEMENT TO CERTIFICATEHOLDERS
ADDITIONAL RELATED INFORMATION FOR POOL 4181
_______________________________________________________________________________
SERVICING COMPENSATION RECEIVED BY SUB-SERVICER 17,672.73
SERVICING COMPENSATION RECEIVED BY MASTER SERVICER 0.00
SUBSERVICER ADVANCES THIS MONTH 44,743.38
MASTER SERVICER ADVANCES THIS MONTH 1,648.98
NUMBER OF PRINCIPAL
DELINQUENCIES: LOANS BALANCE
(A) ONE MONTHLY PAYMENT: 6 1,834,996.26
(B) TWO MONTHLY PAYMENTS: 1 615,035.49
(C) THREE OR MORE MONTHLY PAYMENTS: 1 99,571.45
FORECLOSURES
NUMBER OF LOANS 10
AGGREGATE PRINCIPAL BALANCE 2,158,314.08
SCHEDULED PRINCIPAL BALANCE OF MORTGAGE LOANS AFTER
DISTRIBUTION 56,457,793.42
AGGREGATE NUMBER OF LOANS IN THE POOL AS OF THE
DETERMINATION DATE 249
NUMBER OF REO LOANS ACQUIRED
INCLUDING ANY PENDING CASH LIQUIDATIONS 2
BOOK VALUE OF REAL ESTATE ACQUIRED THROUGH
FORECLOSURE OR GRANT OF A DEED IN LIEU OF
FORECLOSURE, INCLUDING ANY PENDING CASH LIQUIDATIONS 169,678.54
REMAINING SUBCLASS INTEREST SHORTFALL 0.00
CLASS A SHORTFALL (PRINCIPAL) 0.00
CLASS A SHORTFALL (INTEREST) 0.00
TOTAL PREPAYMENTS INCLUDED IN THIS DISTRIBUTION 895,858.94
TOTAL REPURCHASES INCLUDED IN THIS DISTRIBUTION 0.00
DISTRIBUTION PERCENTAGES:
SENIOR SUBORDINATE
PERCENTAGE FOR CURRENT DISTRIBUTION 98.42197760 % 1.57802240 %
CURRENT PREPAYMENT PERCENTAGE 100.00000000 % 0.00000000 %
PERCENTAGE FOR NEXT DISTRIBUTION 98.39607180 % 1.60392820 %
BANKRUPTCY AMOUNT AVAILABLE 100,000.00
FRAUD AMOUNT AVAILABLE 459,101.00
SPECIAL HAZARD AMOUNT AVAILABLE 2,298,881.00
ENDING GROSS WEIGHTED AVERAGE INTEREST RATE 10.13073500
ENDING WEIGHTED AVERAGE MATURITY, IN MONTHS 204.18
POOL TRADING FACTOR: 35.96097304
................................................................................
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RESIDENTIAL FUNDING CORPORATION (MASTER SERVICER)
RESIDENTIAL ASSET SECURITIES CORPORATION (COMPANY)
MORTGAGE PASS-THROUGH CERTIFICATES SERIES 1995-KS4(POOL # 4190)
STATEMENT TO CERTIFICATEHOLDERS
DISTRIBUTION SUMMARY FOR POOL# 4190
_______________________________________________________________________________
PRINCIPAL CURRENT
ORIGINAL BALANCE BEFORE PASS-THROUGH PRINCIPAL
CLASS CUSIP FACE VALUE DISTRIBUTION RATE DISTRIBUTION
_______________________________________________________________________________
A 76110WAL0 98,996,689.00 29,914,111.78 5.562500 % 1,208,865.89
R 4,664,765.74 6,219,687.28 0.000000 % 0.00
- -------------------------------------------------------------------------------
103,661,454.74 36,133,799.06 1,208,865.89
===============================================================================
_______________________________________________________________________________
REMAINING
INTEREST TOTAL DEFERRED REALIZED PRINCIPAL
DISTRIBUTION DISTRIBUTION INTEREST LOSSES BALANCE
_______________________________________________________________________________
A 151,771.20 1,360,637.09 0.00 0.00 28,705,245.89
R 2,288.18 2,288.18 0.00 0.00 6,219,687.28
- -------------------------------------------------------------------------------
154,059.38 1,362,925.27 0.00 0.00 34,924,933.17
===============================================================================
_______________________________________________________________________________
AMOUNTS PER $1,000 UNIT
_______________________________________________________________________________
BEGINNING ENDING
BALANCE PRINCIPAL INTEREST TOTAL DEFERRED BALANCE
CLASS FACTOR FACTOR FACTOR DISTRIBUTION INTEREST FACTOR
_______________________________________________________________________________
A 302.172851 12.211175 1.533094 13.744269 0.000000 289.961676
_______________________________________________________________________________
DETERMINATION DATE 21-December-98
DISTRIBUTION DATE 28-December-98
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RESIDENTIAL FUNDING CORPORATION (MASTER SERVICER)
RESIDENTIAL ASSET SECURITIES CORPORATION (COMPANY)
MORTGAGE PASS-THROUGH CERTIFICATES 1995-KS4 (POOL # 4190)
STATEMENT TO CERTIFICATEHOLDERS
ADDITIONAL RELATED INFORMATION FOR POOL 4190
_______________________________________________________________________________
SERVICING COMPENSATION RECEIVED BY SUB-SERVICER 12,928.52
SERVICING COMPENSATION RECEIVED BY MASTER SERVICER 0.00
SUBSERVICER ADVANCES THIS MONTH 36,007.80
MASTER SERVICER ADVANCES THIS MONTH 579.30
NUMBER OF PRINCIPAL
DELINQUENCIES: LOANS BALANCE
(A) ONE MONTHLY PAYMENT: 10 1,250,414.88
(B) TWO MONTHLY PAYMENTS: 2 340,865.97
(C) THREE OR MORE MONTHLY PAYMENTS: 3 261,020.43
FORECLOSURES
NUMBER OF LOANS 22
AGGREGATE PRINCIPAL BALANCE 2,244,200.83
SCHEDULED PRINCIPAL BALANCE OF MORTGAGE LOANS AFTER
DISTRIBUTION 34,924,933.17
AGGREGATE NUMBER OF LOANS IN THE POOL AS OF THE
DETERMINATION DATE 368
NUMBER OF REO LOANS ACQUIRED
INCLUDING ANY PENDING CASH LIQUIDATIONS 1
BOOK VALUE OF REAL ESTATE ACQUIRED THROUGH
FORECLOSURE OR GRANT OF A DEED IN LIEU OF
FORECLOSURE, INCLUDING ANY PENDING CASH LIQUIDATIONS 69,740.96
REMAINING SUBCLASS INTEREST SHORTFALL 0.00
CLASS A SHORTFALL (PRINCIPAL) 0.00
CLASS A SHORTFALL (INTEREST) 0.00
TOTAL PREPAYMENTS INCLUDED IN THIS DISTRIBUTION 969,079.56
TOTAL REPURCHASES INCLUDED IN THIS DISTRIBUTION 0.00
DISTRIBUTION PERCENTAGES:
SENIOR SUBORDINATE
PERCENTAGE FOR CURRENT DISTRIBUTION 82.78706520 % 17.21293480 %
CURRENT PREPAYMENT PERCENTAGE 100.00000000 % 0.00000000 %
PERCENTAGE FOR NEXT DISTRIBUTION 82.19126930 % 17.80873070 %
BANKRUPTCY AMOUNT AVAILABLE 100,000.00
FRAUD AMOUNT AVAILABLE 520,293.00
SPECIAL HAZARD AMOUNT AVAILABLE 1,071,002.00
ENDING GROSS WEIGHTED AVERAGE INTEREST RATE 10.26933702
ENDING WEIGHTED AVERAGE MATURITY, IN MONTHS 301.26
POOL TRADING FACTOR: 33.69134000
................................................................................
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RESIDENTIAL FUNDING CORPORATION (MASTER SERVICER)
RESIDENTIAL ASSET SECURITIES CORPORATION (COMPANY)
MORTGAGE PASS-THROUGH CERTIFICATES SERIES 1996-KS1(POOL # 4202)
STATEMENT TO CERTIFICATEHOLDERS
DISTRIBUTION SUMMARY FOR POOL# 4202
_______________________________________________________________________________
PRINCIPAL CURRENT
ORIGINAL BALANCE BEFORE PASS-THROUGH PRINCIPAL
CLASS CUSIP FACE VALUE DISTRIBUTION RATE DISTRIBUTION
_______________________________________________________________________________
A 76110WAM8 77,178,720.00 14,573,709.16 5.462500 % 578,978.16
R 0.00 2,739,844.56 0.000000 % 0.00
- -------------------------------------------------------------------------------
77,178,720.00 17,313,553.72 578,978.16
===============================================================================
_______________________________________________________________________________
REMAINING
INTEREST TOTAL DEFERRED REALIZED PRINCIPAL
DISTRIBUTION DISTRIBUTION INTEREST LOSSES BALANCE
_______________________________________________________________________________
A 72,971.15 651,949.31 0.00 0.00 13,994,731.00
R 59,852.80 59,852.80 0.00 0.00 2,739,844.56
- -------------------------------------------------------------------------------
132,823.95 711,802.11 0.00 0.00 16,734,575.56
===============================================================================
_______________________________________________________________________________
AMOUNTS PER $1,000 UNIT
_______________________________________________________________________________
BEGINNING ENDING
BALANCE PRINCIPAL INTEREST TOTAL DEFERRED BALANCE
CLASS FACTOR FACTOR FACTOR DISTRIBUTION INTEREST FACTOR
_______________________________________________________________________________
A 188.830667 7.501785 0.945483 8.447268 0.000000 181.328882
_______________________________________________________________________________
DETERMINATION DATE 21-December-98
DISTRIBUTION DATE 28-December-98
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RESIDENTIAL FUNDING CORPORATION (MASTER SERVICER)
RESIDENTIAL ASSET SECURITIES CORPORATION (COMPANY)
MORTGAGE PASS-THROUGH CERTIFICATES 1996-KS1 (POOL # 4202)
STATEMENT TO CERTIFICATEHOLDERS
ADDITIONAL RELATED INFORMATION FOR POOL 4202
_______________________________________________________________________________
SERVICING COMPENSATION RECEIVED BY SUB-SERVICER 6,967.59
SERVICING COMPENSATION RECEIVED BY MASTER SERVICER 0.00
SUBSERVICER ADVANCES THIS MONTH 27,271.65
MASTER SERVICER ADVANCES THIS MONTH 2,871.17
NUMBER OF PRINCIPAL
DELINQUENCIES: LOANS BALANCE
(A) ONE MONTHLY PAYMENT: 7 834,305.24
(B) TWO MONTHLY PAYMENTS: 3 334,982.56
(C) THREE OR MORE MONTHLY PAYMENTS: 5 477,376.95
FORECLOSURES
NUMBER OF LOANS 12
AGGREGATE PRINCIPAL BALANCE 1,364,821.98
SCHEDULED PRINCIPAL BALANCE OF MORTGAGE LOANS AFTER
DISTRIBUTION 16,734,575.56
AGGREGATE NUMBER OF LOANS IN THE POOL AS OF THE
DETERMINATION DATE 155
NUMBER OF REO LOANS ACQUIRED
INCLUDING ANY PENDING CASH LIQUIDATIONS 3
BOOK VALUE OF REAL ESTATE ACQUIRED THROUGH
FORECLOSURE OR GRANT OF A DEED IN LIEU OF
FORECLOSURE, INCLUDING ANY PENDING CASH LIQUIDATIONS 273,858.38
REMAINING SUBCLASS INTEREST SHORTFALL 0.00
CLASS A SHORTFALL (PRINCIPAL) 0.00
CLASS A SHORTFALL (INTEREST) 0.00
TOTAL PREPAYMENTS INCLUDED IN THIS DISTRIBUTION 456,235.87
TOTAL REPURCHASES INCLUDED IN THIS DISTRIBUTION 0.00
DISTRIBUTION PERCENTAGES:
SENIOR SUBORDINATE
PERCENTAGE FOR CURRENT DISTRIBUTION 84.17514620 % 15.82485380 %
CURRENT PREPAYMENT PERCENTAGE 100.00000000 % 0.00000000 %
PERCENTAGE FOR NEXT DISTRIBUTION 83.62764240 % 16.37235760 %
BANKRUPTCY AMOUNT AVAILABLE 100,000.00
FRAUD AMOUNT AVAILABLE 1,071,853.00
SPECIAL HAZARD AMOUNT AVAILABLE 1,292,750.00
ENDING GROSS WEIGHTED AVERAGE INTEREST RATE 10.88342659
ENDING WEIGHTED AVERAGE MATURITY, IN MONTHS 322.03
POOL TRADING FACTOR: 21.68288818
................................................................................
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RESIDENTIAL FUNDING CORPORATION (MASTER SERVICER)
RESIDENTIAL ASSET SECURITIES CORPORATION (COMPANY)
MORTGAGE PASS-THROUGH CERTIFICATES SERIES 1996-KS2(POOL # 4209)
STATEMENT TO CERTIFICATEHOLDERS
DISTRIBUTION SUMMARY FOR POOL# 4209
_______________________________________________________________________________
PRINCIPAL CURRENT
ORIGINAL BALANCE BEFORE PASS-THROUGH PRINCIPAL
CLASS CUSIP FACE VALUE DISTRIBUTION RATE DISTRIBUTION
_______________________________________________________________________________
A-1 76110WAN6 41,000,000.00 0.00 6.770000 % 0.00
A-2 76110WAP1 28,000,000.00 21,009,795.19 7.040000 % 493,369.16
A-3 76110WAQ9 12,000,000.00 12,000,000.00 7.410000 % 0.00
A-4 76110WAR7 14,086,733.00 14,086,733.00 7.980000 % 0.00
A-5 76110WAU0 352,608.35 205,013.87 0.000000 % 13,588.96
R-I 76110WAS5 100.00 0.00 7.980000 % 0.00
R-II 76110WAT3 100.00 0.00 7.980000 % 0.00
B-1 3,214,806.00 3,098,859.54 7.980000 % 2,928.51
B-2 904,165.00 871,555.03 7.980000 % 823.65
B-3 904,163.45 516,315.83 7.980000 % 487.92
SPRED 0.00 0.00 1.687146 % 0.00
- -------------------------------------------------------------------------------
100,462,675.80 51,788,272.46 511,198.20
===============================================================================
_______________________________________________________________________________
REMAINING
INTEREST TOTAL DEFERRED REALIZED PRINCIPAL
DISTRIBUTION DISTRIBUTION INTEREST LOSSES BALANCE
_______________________________________________________________________________
A-1 0.00 0.00 0.00 0.00 0.00
A-2 123,243.36 616,612.52 0.00 0.00 20,516,426.03
A-3 74,091.52 74,091.52 0.00 0.00 12,000,000.00
A-4 93,666.05 93,666.05 0.00 0.00 14,086,733.00
A-5 0.00 13,588.96 0.00 0.00 191,424.91
R-I 0.00 0.00 0.00 0.00 0.00
R-II 0.00 0.00 0.00 0.00 0.00
B-1 20,605.06 23,533.57 0.00 0.00 3,095,931.03
B-2 5,795.18 6,618.83 0.00 0.00 870,731.38
B-3 3,433.11 3,921.03 0.00 0.00 490,599.75
SPRED 72,803.65 72,803.65 0.00 0.00 0.00
- -------------------------------------------------------------------------------
393,637.93 904,836.13 0.00 0.00 51,251,846.10
===============================================================================
_______________________________________________________________________________
AMOUNTS PER $1,000 UNIT
_______________________________________________________________________________
BEGINNING ENDING
BALANCE PRINCIPAL INTEREST TOTAL DEFERRED BALANCE
CLASS FACTOR FACTOR FACTOR DISTRIBUTION INTEREST FACTOR
_______________________________________________________________________________
A-1 0.000000 0.000000 0.000000 0.000000 0.000000 0.000000
A-2 750.349828 17.620327 4.401549 22.021876 0.000000 732.729501
A-3 1000.000000 0.000000 6.174293 6.174293 0.000000 1000.000000
A-4 1000.000000 0.000000 6.649239 6.649239 0.000000 1000.000000
A-5 581.420916 38.538395 0.000000 38.538395 0.000000 542.882521
R-I 0.000000 0.000000 0.000000 0.000000 0.000000 0.000000
R-II 0.000000 0.000000 0.000000 0.000000 0.000000 0.000000
B-1 963.933606 0.910945 6.409426 7.320371 0.000000 963.022661
B-2 963.933607 0.910951 6.409427 7.320378 0.000000 963.022656
B-3 571.042581 0.539637 3.797002 4.336639 0.000000 542.600732
SPRED 0.000000 0.000000 0.000000 0.000000 0.000000 0.000000
_______________________________________________________________________________
DETERMINATION DATE 21-December-98
DISTRIBUTION DATE 28-December-98
Run: 12/29/98 16:47:19 rept2.frg
Page: 2 of 2
RESIDENTIAL FUNDING CORPORATION (MASTER SERVICER)
RESIDENTIAL ASSET SECURITIES CORPORATION (COMPANY)
MORTGAGE PASS-THROUGH CERTIFICATES 1996-KS2 (POOL # 4209)
STATEMENT TO CERTIFICATEHOLDERS
ADDITIONAL RELATED INFORMATION FOR POOL 4209
_______________________________________________________________________________
SERVICING COMPENSATION RECEIVED BY SUB-SERVICER 19,938.75
SERVICING COMPENSATION RECEIVED BY MASTER SERVICER 1,842.13
SUBSERVICER ADVANCES THIS MONTH 52,285.90
MASTER SERVICER ADVANCES THIS MONTH 12,327.04
NUMBER OF PRINCIPAL
DELINQUENCIES: LOANS BALANCE
(A) ONE MONTHLY PAYMENT: 17 1,412,434.60
(B) TWO MONTHLY PAYMENTS: 13 1,264,789.83
(C) THREE OR MORE MONTHLY PAYMENTS: 10 921,324.27
FORECLOSURES
NUMBER OF LOANS 21
AGGREGATE PRINCIPAL BALANCE 2,439,604.76
SCHEDULED PRINCIPAL BALANCE OF MORTGAGE LOANS AFTER
DISTRIBUTION 51,251,846.10
AGGREGATE NUMBER OF LOANS IN THE POOL AS OF THE
DETERMINATION DATE 526
NUMBER OF REO LOANS ACQUIRED
INCLUDING ANY PENDING CASH LIQUIDATIONS 9
BOOK VALUE OF REAL ESTATE ACQUIRED THROUGH
FORECLOSURE OR GRANT OF A DEED IN LIEU OF
FORECLOSURE, INCLUDING ANY PENDING CASH LIQUIDATIONS 1,302,751.13
REMAINING SUBCLASS INTEREST SHORTFALL 0.00
CLASS A SHORTFALL (PRINCIPAL) 0.00
CLASS A SHORTFALL (INTEREST) 0.00
TOTAL PREPAYMENTS INCLUDED IN THIS DISTRIBUTION 453,257.68
TOTAL REPURCHASES INCLUDED IN THIS DISTRIBUTION 0.00
DISTRIBUTION PERCENTAGES:
SENIOR SUBORDINATE
PERCENTAGE FOR CURRENT DISTRIBUTION 91.30196400 % 8.69803600 %
CURRENT PREPAYMENT PERCENTAGE 100.00000000 % 0.00000000 %
PERCENTAGE FOR NEXT DISTRIBUTION 91.27061220 % 8.72938780 %
BANKRUPTCY AMOUNT AVAILABLE 100,000.00
FRAUD AMOUNT AVAILABLE 583,785.00
SPECIAL HAZARD AMOUNT AVAILABLE 869,764.00
ENDING GROSS WEIGHTED AVERAGE INTEREST RATE 9.79985305
ENDING WEIGHTED AVERAGE MATURITY, IN MONTHS 303.59
POOL TRADING FACTOR: 51.01580830
................................................................................
Run: 12/29/98 16:47:20 REPT1B.FRG
Page: 1 of 2
RESIDENTIAL FUNDING CORPORATION (MASTER SERVICER)
RESIDENTIAL ASSET SECURITIES CORPORATION (COMPANY)
MORTGAGE PASS-THROUGH CERTIFICATES SERIES 1996-KS3(POOL # 4210)
STATEMENT TO CERTIFICATEHOLDERS
DISTRIBUTION SUMMARY FOR POOL# 4210
_______________________________________________________________________________
PRINCIPAL CURRENT
ORIGINAL BALANCE BEFORE PASS-THROUGH PRINCIPAL
CLASS CUSIP FACE VALUE DISTRIBUTION RATE DISTRIBUTION
_______________________________________________________________________________
A 76110WAV8 143,731,008.00 37,124,955.96 5.412500 % 1,301,113.85
R 0.00 3,530,297.25 0.000000 % 0.00
- -------------------------------------------------------------------------------
143,731,008.00 40,655,253.21 1,301,113.85
===============================================================================
_______________________________________________________________________________
REMAINING
INTEREST TOTAL DEFERRED REALIZED PRINCIPAL
DISTRIBUTION DISTRIBUTION INTEREST LOSSES BALANCE
_______________________________________________________________________________
A 184,166.67 1,485,280.52 0.00 0.00 35,823,842.11
R 30,409.85 30,409.85 62,977.95 0.00 3,593,275.20
- -------------------------------------------------------------------------------
214,576.52 1,515,690.37 62,977.95 0.00 39,417,117.31
===============================================================================
_______________________________________________________________________________
AMOUNTS PER $1,000 UNIT
_______________________________________________________________________________
BEGINNING ENDING
BALANCE PRINCIPAL INTEREST TOTAL DEFERRED BALANCE
CLASS FACTOR FACTOR FACTOR DISTRIBUTION INTEREST FACTOR
_______________________________________________________________________________
A 258.294689 9.052423 1.281329 10.333752 0.000000 249.242266
_______________________________________________________________________________
DETERMINATION DATE 21-December-98
DISTRIBUTION DATE 28-December-98
Run: 12/29/98 16:47:20 rept2.frg
Page: 2 of 2
RESIDENTIAL FUNDING CORPORATION (MASTER SERVICER)
RESIDENTIAL ASSET SECURITIES CORPORATION (COMPANY)
MORTGAGE PASS-THROUGH CERTIFICATES 1996-KS3 (POOL # 4210)
STATEMENT TO CERTIFICATEHOLDERS
ADDITIONAL RELATED INFORMATION FOR POOL 4210
_______________________________________________________________________________
SERVICING COMPENSATION RECEIVED BY SUB-SERVICER 16,222.45
SERVICING COMPENSATION RECEIVED BY MASTER SERVICER 0.00
SUBSERVICER ADVANCES THIS MONTH 53,528.51
MASTER SERVICER ADVANCES THIS MONTH 11,013.28
NUMBER OF PRINCIPAL
DELINQUENCIES: LOANS BALANCE
(A) ONE MONTHLY PAYMENT: 9 1,111,698.82
(B) TWO MONTHLY PAYMENTS: 4 597,738.83
(C) THREE OR MORE MONTHLY PAYMENTS: 10 514,320.97
FORECLOSURES
NUMBER OF LOANS 29
AGGREGATE PRINCIPAL BALANCE 3,579,334.85
SCHEDULED PRINCIPAL BALANCE OF MORTGAGE LOANS AFTER
DISTRIBUTION 39,417,117.31
AGGREGATE NUMBER OF LOANS IN THE POOL AS OF THE
DETERMINATION DATE 342
NUMBER OF REO LOANS ACQUIRED
INCLUDING ANY PENDING CASH LIQUIDATIONS 11
BOOK VALUE OF REAL ESTATE ACQUIRED THROUGH
FORECLOSURE OR GRANT OF A DEED IN LIEU OF
FORECLOSURE, INCLUDING ANY PENDING CASH LIQUIDATIONS 1,082,726.85
REMAINING SUBCLASS INTEREST SHORTFALL 0.00
CLASS A SHORTFALL (PRINCIPAL) 0.00
CLASS A SHORTFALL (INTEREST) 0.00
TOTAL PREPAYMENTS INCLUDED IN THIS DISTRIBUTION 1,084,003.44
TOTAL REPURCHASES INCLUDED IN THIS DISTRIBUTION 0.00
DISTRIBUTION PERCENTAGES:
SENIOR SUBORDINATE
PERCENTAGE FOR CURRENT DISTRIBUTION 91.31650410 % 8.68349590 %
CURRENT PREPAYMENT PERCENTAGE 100.00000000 % 0.00000000 %
PERCENTAGE FOR NEXT DISTRIBUTION 90.88397260 % 9.11602740 %
BANKRUPTCY AMOUNT AVAILABLE 100,000.00
FRAUD AMOUNT AVAILABLE 481,515.00
SPECIAL HAZARD AMOUNT AVAILABLE 961,592.00
ENDING GROSS WEIGHTED AVERAGE INTEREST RATE 10.91433589
ENDING WEIGHTED AVERAGE MATURITY, IN MONTHS 325.94
POOL TRADING FACTOR: 27.42422659
................................................................................
Run: 12/29/98 16:49:25 REPT1B.FRG
Page: 1 of 2
RESIDENTIAL FUNDING CORPORATION (MASTER SERVICER)
RESIDENTIAL ASSET SECURITIES CORPORATION (COMPANY)
MORTGAGE ASSET-BACKED PASS-THROUGH CERTIFICATES SERIES 1996-KS4(POOL # 4223)
STATEMENT TO CERTIFICATEHOLDERS
DISTRIBUTION SUMMARY FOR POOL# 4223
_______________________________________________________________________________
PRINCIPAL CURRENT
ORIGINAL BALANCE BEFORE PASS-THROUGH PRINCIPAL
CLASS CUSIP FACE VALUE DISTRIBUTION RATE DISTRIBUTION
_______________________________________________________________________________
A-I-1 76110WAW6 33,524,000.00 0.00 0.125000 % 0.00
A-I-2 76110WAX4 35,203,000.00 18,006,057.67 7.300000 % 2,298,579.30
A-I-3 76110WAY2 7,449,000.00 7,449,000.00 7.625000 % 0.00
A-I-4 76110WAZ9 11,675,000.00 11,675,000.00 7.900000 % 0.00
A-I-5 76110WBA3 7,071,000.00 7,071,000.00 8.050000 % 0.00
A-II 76110WBB1 223,019,000.00 64,570,075.49 5.342340 % 3,134,220.60
R 1,035.81 6,999,328.56 0.000000 % 0.00
- -------------------------------------------------------------------------------
317,942,035.81 115,770,461.72 5,432,799.90
===============================================================================
_______________________________________________________________________________
REMAINING
INTEREST TOTAL DEFERRED REALIZED PRINCIPAL
DISTRIBUTION DISTRIBUTION INTEREST LOSSES BALANCE
_______________________________________________________________________________
A-I-1 0.00 0.00 0.00 0.00 0.00
A-I-2 107,126.80 2,405,706.10 0.00 0.00 15,707,478.37
A-I-3 46,290.78 46,290.78 0.00 0.00 7,449,000.00
A-I-4 75,169.32 75,169.32 0.00 0.00 11,675,000.00
A-I-5 46,390.96 46,390.96 0.00 0.00 7,071,000.00
A-II 306,340.47 3,440,561.07 0.00 0.00 61,435,854.89
R 287,560.98 287,560.98 0.00 0.00 6,999,328.56
- -------------------------------------------------------------------------------
868,879.31 6,301,679.21 0.00 0.00 110,337,661.82
===============================================================================
_______________________________________________________________________________
AMOUNTS PER $1,000 UNIT
_______________________________________________________________________________
BEGINNING ENDING
BALANCE PRINCIPAL INTEREST TOTAL DEFERRED BALANCE
CLASS FACTOR FACTOR FACTOR DISTRIBUTION INTEREST FACTOR
_______________________________________________________________________________
A-I-1 0.000000 0.000000 0.000000 0.000000 0.000000 0.000000
A-I-2 511.492136 65.294983 3.043116 68.338099 0.000000 446.197153
A-I-3 1000.000000 0.000000 6.214362 6.214362 0.000000 1000.000000
A-I-4 1000.000000 0.000000 6.438486 6.438486 0.000000 1000.000000
A-I-5 1000.000000 0.000000 6.560735 6.560735 0.000000 1000.000000
A-II 289.527240 14.053604 1.373607 15.427211 0.000000 275.473636
_______________________________________________________________________________
DETERMINATION DATE 21-December-98
DISTRIBUTION DATE 28-December-98
Run: 12/29/98 16:49:25 rept2.frg
Page: 2 of 2
RESIDENTIAL FUNDING CORPORATION (MASTER SERVICER)
RESIDENTIAL ASSET SECURITIES CORPORATION (COMPANY)
MORTGAGE ASSET-BACKED PASS-THROUGH CERTIFICATES 1996-KS4 (POOL # 4223)
STATEMENT TO CERTIFICATEHOLDERS
ADDITIONAL RELATED INFORMATION FOR POOL 4223
_______________________________________________________________________________
SERVICING COMPENSATION RECEIVED BY SUB-SERVICER 45,845.60
SERVICING COMPENSATION RECEIVED BY MASTER SERVICER 0.00
SUBSERVICER ADVANCES THIS MONTH 166,582.70
MASTER SERVICER ADVANCES THIS MONTH 17,515.23
NUMBER OF PRINCIPAL
DELINQUENCIES: LOANS BALANCE
(A) ONE MONTHLY PAYMENT: 36 4,563,330.16
(B) TWO MONTHLY PAYMENTS: 21 2,539,029.84
(C) THREE OR MORE MONTHLY PAYMENTS: 24 2,595,379.05
FORECLOSURES
NUMBER OF LOANS 73
AGGREGATE PRINCIPAL BALANCE 8,741,698.05
SCHEDULED PRINCIPAL BALANCE OF MORTGAGE LOANS AFTER
DISTRIBUTION 110,337,661.82
AGGREGATE NUMBER OF LOANS IN THE POOL AS OF THE
DETERMINATION DATE 1,056
NUMBER OF REO LOANS ACQUIRED
INCLUDING ANY PENDING CASH LIQUIDATIONS 17
BOOK VALUE OF REAL ESTATE ACQUIRED THROUGH
FORECLOSURE OR GRANT OF A DEED IN LIEU OF
FORECLOSURE, INCLUDING ANY PENDING CASH LIQUIDATIONS 1,986,925.49
REMAINING SUBCLASS INTEREST SHORTFALL 0.00
CLASS A SHORTFALL (PRINCIPAL) 0.00
CLASS A SHORTFALL (INTEREST) 0.00
TOTAL PREPAYMENTS INCLUDED IN THIS DISTRIBUTION 5,026,050.59
TOTAL REPURCHASES INCLUDED IN THIS DISTRIBUTION 0.00
DISTRIBUTION PERCENTAGES:
SENIOR SUBORDINATE
PERCENTAGE FOR CURRENT DISTRIBUTION 93.95413260 % 6.04586740 %
CURRENT PREPAYMENT PERCENTAGE 100.00000000 % 0.00000000 %
PERCENTAGE FOR NEXT DISTRIBUTION 93.65644650 % 6.34355350 %
BANKRUPTCY AMOUNT AVAILABLE 125,000.00
FRAUD AMOUNT AVAILABLE 3,518,891.00
SPECIAL HAZARD AMOUNT AVAILABLE 1,900,000.00
ENDING GROSS WEIGHTED AVERAGE INTEREST RATE 10.58941600
ENDING WEIGHTED AVERAGE MATURITY, IN MONTHS 321.78
POOL TRADING FACTOR: 34.70370363
................................................................................
Run: 12/29/98 16:47:32 REPT1B.FRG
Page: 1 of 2
RESIDENTIAL FUNDING CORPORATION (MASTER SERVICER)
RESIDENTIAL ASSET SECURITIES CORPORATION (COMPANY)
MORTGAGE PASS-THROUGH CERTIFICATES SERIES 1996-KS5(POOL # 4232)
STATEMENT TO CERTIFICATEHOLDERS
DISTRIBUTION SUMMARY FOR POOL# 4232
_______________________________________________________________________________
PRINCIPAL CURRENT
ORIGINAL BALANCE BEFORE PASS-THROUGH PRINCIPAL
CLASS CUSIP FACE VALUE DISTRIBUTION RATE DISTRIBUTION
_______________________________________________________________________________
A 76110WBC9 200,011,758.00 60,826,249.20 5.317340 % 4,160,214.93
R 0.40 5,000,293.96 0.000000 % 0.00
- -------------------------------------------------------------------------------
200,011,758.40 65,826,543.16 4,160,214.93
===============================================================================
_______________________________________________________________________________
REMAINING
INTEREST TOTAL DEFERRED REALIZED PRINCIPAL
DISTRIBUTION DISTRIBUTION INTEREST LOSSES BALANCE
_______________________________________________________________________________
A 279,098.42 4,439,313.35 0.00 0.00 56,666,034.27
R 271,459.85 271,459.85 0.00 0.00 5,000,293.96
- -------------------------------------------------------------------------------
550,558.27 4,710,773.20 0.00 0.00 61,666,328.23
===============================================================================
_______________________________________________________________________________
AMOUNTS PER $1,000 UNIT
_______________________________________________________________________________
BEGINNING ENDING
BALANCE PRINCIPAL INTEREST TOTAL DEFERRED BALANCE
CLASS FACTOR FACTOR FACTOR DISTRIBUTION INTEREST FACTOR
_______________________________________________________________________________
A 304.113367 20.799852 1.395410 22.195262 0.000000 283.313515
_______________________________________________________________________________
DETERMINATION DATE 21-December-98
DISTRIBUTION DATE 28-December-98
Run: 12/29/98 16:47:33 rept2.frg
Page: 2 of 2
RESIDENTIAL FUNDING CORPORATION (MASTER SERVICER)
RESIDENTIAL ASSET SECURITIES CORPORATION (COMPANY)
MORTGAGE PASS-THROUGH CERTIFICATES 1996-KS5 (POOL # 4232)
STATEMENT TO CERTIFICATEHOLDERS
ADDITIONAL RELATED INFORMATION FOR POOL 4232
_______________________________________________________________________________
SERVICING COMPENSATION RECEIVED BY SUB-SERVICER 25,659.98
SERVICING COMPENSATION RECEIVED BY MASTER SERVICER 0.00
SUBSERVICER ADVANCES THIS MONTH 108,200.90
MASTER SERVICER ADVANCES THIS MONTH 15,834.04
NUMBER OF PRINCIPAL
DELINQUENCIES: LOANS BALANCE
(A) ONE MONTHLY PAYMENT: 18 2,451,940.16
(B) TWO MONTHLY PAYMENTS: 9 1,237,993.55
(C) THREE OR MORE MONTHLY PAYMENTS: 22 2,532,789.51
FORECLOSURES
NUMBER OF LOANS 46
AGGREGATE PRINCIPAL BALANCE 5,568,383.83
SCHEDULED PRINCIPAL BALANCE OF MORTGAGE LOANS AFTER
DISTRIBUTION 61,666,328.23
AGGREGATE NUMBER OF LOANS IN THE POOL AS OF THE
DETERMINATION DATE 520
NUMBER OF REO LOANS ACQUIRED
INCLUDING ANY PENDING CASH LIQUIDATIONS 14
BOOK VALUE OF REAL ESTATE ACQUIRED THROUGH
FORECLOSURE OR GRANT OF A DEED IN LIEU OF
FORECLOSURE, INCLUDING ANY PENDING CASH LIQUIDATIONS 1,657,125.57
REMAINING SUBCLASS INTEREST SHORTFALL 0.00
CLASS A SHORTFALL (PRINCIPAL) 0.00
CLASS A SHORTFALL (INTEREST) 0.00
TOTAL PREPAYMENTS INCLUDED IN THIS DISTRIBUTION 3,513,238.83
TOTAL REPURCHASES INCLUDED IN THIS DISTRIBUTION 200,993.11
DISTRIBUTION PERCENTAGES:
SENIOR SUBORDINATE
PERCENTAGE FOR CURRENT DISTRIBUTION 92.40383330 % 7.59616670 %
CURRENT PREPAYMENT PERCENTAGE 100.00000000 % 0.00000000 %
PERCENTAGE FOR NEXT DISTRIBUTION 91.89137070 % 8.10862930 %
BANKRUPTCY AMOUNT AVAILABLE 100,000.00
FRAUD AMOUNT AVAILABLE 2,681,033.00
SPECIAL HAZARD AMOUNT AVAILABLE 1,340,517.00
ENDING GROSS WEIGHTED AVERAGE INTEREST RATE 11.00382558
ENDING WEIGHTED AVERAGE MATURITY, IN MONTHS 333.96
POOL TRADING FACTOR: 30.83135148
................................................................................
Run: 12/29/98 16:49:26 REPT1B.FRG
Page: 1 of 2
RESIDENTIAL FUNDING CORPORATION (MASTER SERVICER)
RESIDENTIAL ASSET SECURITIES CORPORATION (COMPANY)
MORTGAGE ASSET-BACKED PASS-THROUGH CERTIFICATES SERIES 1997-KS1(POOL # 4241)
STATEMENT TO CERTIFICATEHOLDERS
DISTRIBUTION SUMMARY FOR POOL# 4241
_______________________________________________________________________________
PRINCIPAL CURRENT
ORIGINAL BALANCE BEFORE PASS-THROUGH PRINCIPAL
CLASS CUSIP FACE VALUE DISTRIBUTION RATE DISTRIBUTION
_______________________________________________________________________________
A-I-1 76110WBD7 52,000,000.00 0.00 0.140000 % 0.00
A-I-2 76110WBE5 32,000,000.00 29,328,485.39 7.070000 % 3,265,884.49
A-I-3 76110WBF2 16,000,000.00 16,000,000.00 7.390000 % 0.00
A-I-4 76110WBG0 21,743,601.00 21,743,601.00 7.650000 % 0.00
A-II 76100WBH8 151,859,043.00 61,674,340.58 5.282340 % 2,731,557.47
R 1.60 5,622,630.12 0.000000 % 0.00
- -------------------------------------------------------------------------------
273,602,645.60 134,369,057.09 5,997,441.96
===============================================================================
_______________________________________________________________________________
REMAINING
INTEREST TOTAL DEFERRED REALIZED PRINCIPAL
DISTRIBUTION DISTRIBUTION INTEREST LOSSES BALANCE
_______________________________________________________________________________
A-I-1 0.00 0.00 0.00 0.00 0.00
A-I-2 172,793.66 3,438,678.15 0.00 0.00 26,062,600.90
A-I-3 98,533.33 98,533.33 0.00 0.00 16,000,000.00
A-I-4 138,615.46 138,615.46 0.00 0.00 21,743,601.00
A-II 298,636.10 3,030,193.57 0.00 0.00 58,942,783.11
R 286,512.96 286,512.96 0.00 0.00 5,622,630.12
- -------------------------------------------------------------------------------
995,091.51 6,992,533.47 0.00 0.00 128,371,615.13
===============================================================================
_______________________________________________________________________________
AMOUNTS PER $1,000 UNIT
_______________________________________________________________________________
BEGINNING ENDING
BALANCE PRINCIPAL INTEREST TOTAL DEFERRED BALANCE
CLASS FACTOR FACTOR FACTOR DISTRIBUTION INTEREST FACTOR
_______________________________________________________________________________
A-I-1 0.000000 0.000000 0.000000 0.000000 0.000000 0.000000
A-I-2 916.515168 102.058890 5.399802 107.458692 0.000000 814.456278
A-I-3 1000.000000 0.000000 6.158333 6.158333 0.000000 1000.000000
A-I-4 1000.000000 0.000000 6.375000 6.375000 0.000000 1000.000000
A-II 406.128864 17.987453 1.966535 19.953988 0.000000 388.141410
_______________________________________________________________________________
DETERMINATION DATE 21-December-98
DISTRIBUTION DATE 28-December-98
Run: 12/29/98 16:49:26 rept2.frg
Page: 2 of 2
RESIDENTIAL FUNDING CORPORATION (MASTER SERVICER)
RESIDENTIAL ASSET SECURITIES CORPORATION (COMPANY)
MORTGAGE ASSET-BACKED PASS-THROUGH CERTIFICATES 1997-KS1 (POOL # 4241)
STATEMENT TO CERTIFICATEHOLDERS
ADDITIONAL RELATED INFORMATION FOR POOL 4241
_______________________________________________________________________________
SERVICING COMPENSATION RECEIVED BY SUB-SERVICER 53,687.66
SERVICING COMPENSATION RECEIVED BY MASTER SERVICER 0.00
SUBSERVICER ADVANCES THIS MONTH 169,614.71
MASTER SERVICER ADVANCES THIS MONTH 14,158.83
NUMBER OF PRINCIPAL
DELINQUENCIES: LOANS BALANCE
(A) ONE MONTHLY PAYMENT: 46 4,290,516.29
(B) TWO MONTHLY PAYMENTS: 21 2,350,418.80
(C) THREE OR MORE MONTHLY PAYMENTS: 45 4,543,262.37
FORECLOSURES
NUMBER OF LOANS 70
AGGREGATE PRINCIPAL BALANCE 7,206,846.12
SCHEDULED PRINCIPAL BALANCE OF MORTGAGE LOANS AFTER
DISTRIBUTION 128,371,615.13
AGGREGATE NUMBER OF LOANS IN THE POOL AS OF THE
DETERMINATION DATE 1,364
NUMBER OF REO LOANS ACQUIRED
INCLUDING ANY PENDING CASH LIQUIDATIONS 17
BOOK VALUE OF REAL ESTATE ACQUIRED THROUGH
FORECLOSURE OR GRANT OF A DEED IN LIEU OF
FORECLOSURE, INCLUDING ANY PENDING CASH LIQUIDATIONS 1,552,738.80
REMAINING SUBCLASS INTEREST SHORTFALL 0.00
CLASS A SHORTFALL (PRINCIPAL) 0.00
CLASS A SHORTFALL (INTEREST) 0.00
TOTAL PREPAYMENTS INCLUDED IN THIS DISTRIBUTION 4,617,169.20
TOTAL REPURCHASES INCLUDED IN THIS DISTRIBUTION 1,076,751.45
DISTRIBUTION PERCENTAGES:
SENIOR SUBORDINATE
PERCENTAGE FOR CURRENT DISTRIBUTION 95.81553210 % 4.18446790 %
CURRENT PREPAYMENT PERCENTAGE 100.00000000 % 0.00000000 %
PERCENTAGE FOR NEXT DISTRIBUTION 95.62003630 % 4.37996370 %
BANKRUPTCY AMOUNT AVAILABLE 100,000.00
FRAUD AMOUNT AVAILABLE 1,827,255.00
SPECIAL HAZARD AMOUNT AVAILABLE 1,259,392.00
ENDING GROSS WEIGHTED AVERAGE INTEREST RATE 10.43546900
ENDING WEIGHTED AVERAGE MATURITY, IN MONTHS 300.92
POOL TRADING FACTOR: 46.91899629
................................................................................
Run: 12/29/98 16:49:27 REPT1B.FRG
Page: 1 of 2
RESIDENTIAL FUNDING CORPORATION (MASTER SERVICER)
RESIDENTIAL ASSET SECURITIES CORPORATION (COMPANY)
MORTGAGE PASS-THROUGH CERTIFICATES SERIES 1997-KS2(POOL # 4251)
STATEMENT TO CERTIFICATEHOLDERS
DISTRIBUTION SUMMARY FOR POOL# 4251
_______________________________________________________________________________
PRINCIPAL CURRENT
ORIGINAL BALANCE BEFORE PASS-THROUGH PRINCIPAL
CLASS CUSIP FACE VALUE DISTRIBUTION RATE DISTRIBUTION
_______________________________________________________________________________
A-I 76110WBK1 250,104,875.00 131,971,470.75 5.287340 % 5,538,090.05
A-II 76110WBL9 115,163,718.00 42,486,079.81 5.282340 % 1,334,880.25
SB-I 0.22 6,252,621.88 0.000000 % 0.00
SB-II 0.37 2,879,092.96 0.000000 % 0.00
R-I 0.00 0.00 0.000000 % 0.00
R-II 0.00 0.00 0.000000 % 0.00
R-III 0.00 0.00 0.000000 % 0.00
- -------------------------------------------------------------------------------
365,268,593.59 183,589,265.40 6,872,970.30
===============================================================================
_______________________________________________________________________________
REMAINING
INTEREST TOTAL DEFERRED REALIZED PRINCIPAL
DISTRIBUTION DISTRIBUTION INTEREST LOSSES BALANCE
_______________________________________________________________________________
A-I 638,726.71 6,176,816.76 0.00 0.00 126,433,380.70
A-II 205,723.76 1,540,604.01 0.00 0.00 41,151,199.56
SB-I 313,757.53 313,757.53 0.00 0.00 6,252,621.88
SB-II 164,693.19 164,693.19 0.00 0.00 2,879,092.96
R-I 0.00 0.00 0.00 0.00 0.00
R-II 0.00 0.00 0.00 0.00 0.00
R-III 0.00 0.00 0.00 0.00 0.00
- -------------------------------------------------------------------------------
1,322,901.19 8,195,871.49 0.00 0.00 176,716,295.10
===============================================================================
_______________________________________________________________________________
AMOUNTS PER $1,000 UNIT
_______________________________________________________________________________
BEGINNING ENDING
BALANCE PRINCIPAL INTEREST TOTAL DEFERRED BALANCE
CLASS FACTOR FACTOR FACTOR DISTRIBUTION INTEREST FACTOR
_______________________________________________________________________________
A-I 527.664528 22.143071 2.553836 24.696907 0.000000 505.521457
A-II 368.918966 11.591153 1.786359 13.377512 0.000000 357.327814
_______________________________________________________________________________
DETERMINATION DATE 21-December-98
DISTRIBUTION DATE 28-December-98
Run: 12/29/98 16:49:27 rept2.frg
Page: 2 of 2
RESIDENTIAL FUNDING CORPORATION (MASTER SERVICER)
RESIDENTIAL ASSET SECURITIES CORPORATION (COMPANY)
MORTGAGE PASS-THROUGH CERTIFICATES 1997-KS2 (POOL # 4251)
STATEMENT TO CERTIFICATEHOLDERS
ADDITIONAL RELATED INFORMATION FOR POOL 4251
_______________________________________________________________________________
SERVICING COMPENSATION RECEIVED BY SUB-SERVICER 73,543.82
SERVICING COMPENSATION RECEIVED BY MASTER SERVICER 0.00
SUBSERVICER ADVANCES THIS MONTH 213,175.50
MASTER SERVICER ADVANCES THIS MONTH 21,569.64
NUMBER OF PRINCIPAL
DELINQUENCIES: LOANS BALANCE
(A) ONE MONTHLY PAYMENT: 43 5,389,969.73
(B) TWO MONTHLY PAYMENTS: 22 2,565,537.29
(C) THREE OR MORE MONTHLY PAYMENTS: 42 5,472,632.33
FORECLOSURES
NUMBER OF LOANS 86
AGGREGATE PRINCIPAL BALANCE 11,044,783.90
SCHEDULED PRINCIPAL BALANCE OF MORTGAGE LOANS AFTER
DISTRIBUTION 176,716,295.10
AGGREGATE NUMBER OF LOANS IN THE POOL AS OF THE
DETERMINATION DATE 1,482
NUMBER OF REO LOANS ACQUIRED
INCLUDING ANY PENDING CASH LIQUIDATIONS 24
BOOK VALUE OF REAL ESTATE ACQUIRED THROUGH
FORECLOSURE OR GRANT OF A DEED IN LIEU OF
FORECLOSURE, INCLUDING ANY PENDING CASH LIQUIDATIONS 2,397,850.73
REMAINING SUBCLASS INTEREST SHORTFALL 0.00
CLASS A SHORTFALL (PRINCIPAL) 0.00
CLASS A SHORTFALL (INTEREST) 0.00
TOTAL PREPAYMENTS INCLUDED IN THIS DISTRIBUTION 5,588,086.90
TOTAL REPURCHASES INCLUDED IN THIS DISTRIBUTION 726,846.19
DISTRIBUTION PERCENTAGES:
SENIOR SUBORDINATE
PERCENTAGE FOR CURRENT DISTRIBUTION 95.02600830 % 4.97399170 %
CURRENT PREPAYMENT PERCENTAGE 100.00000000 % 0.00000000 %
PERCENTAGE FOR NEXT DISTRIBUTION 94.83255640 % 5.16744360 %
BANKRUPTCY AMOUNT AVAILABLE 100,000.00
FRAUD AMOUNT AVAILABLE 7,503,146.00
SPECIAL HAZARD AMOUNT AVAILABLE 2,501,049.00
ENDING GROSS WEIGHTED AVERAGE INTEREST RATE 10.38728600
ENDING WEIGHTED AVERAGE MATURITY, IN MONTHS 339.46
POOL TRADING FACTOR: 48.37982192
................................................................................
Run: 12/29/98 16:49:28 REPT1B.FRG
Page: 1 of 3
RESIDENTIAL FUNDING CORPORATION (MASTER SERVICER)
RESIDENTIAL ASSET SECURITIES CORPORATION (COMPANY)
MORTGAGE PASS-THROUGH CERTIFICATES SERIES 1997-KS3(POOL # 4259)
STATEMENT TO CERTIFICATEHOLDERS
DISTRIBUTION SUMMARY FOR POOL# 4259
_______________________________________________________________________________
PRINCIPAL CURRENT
ORIGINAL BALANCE BEFORE PASS-THROUGH PRINCIPAL
CLASS CUSIP FACE VALUE DISTRIBUTION RATE DISTRIBUTION
_______________________________________________________________________________
A-I-1 76110WBP0 74,500,000.00 3,194,085.80 5.137340 % 3,194,085.80
A-I-2 76110WBQ8 20,000,000.00 20,000,000.00 6.550000 % 1,824,063.22
A-I-3 76110WBR6 32,800,000.00 32,800,000.00 6.680000 % 0.00
A-I-4 76110WBS4 16,300,000.00 16,300,000.00 6.900000 % 0.00
A-I-5 76110WBT2 22,038,000.00 22,038,000.00 7.250000 % 0.00
A-I-6 76110WBU9 18,400,000.00 18,400,000.00 6.900000 % 0.00
M-I-1 76110WBX3 9,002,000.00 9,002,000.00 7.150000 % 0.00
M-I-2 76110WBY1 4,301,000.00 4,301,000.00 7.350000 % 0.00
B-I 76110WCB0 2,701,000.00 2,701,000.00 7.650000 % 0.00
A-II-1 76110WBV7 159,111,000.00 86,362,283.80 5.272340 % 3,718,282.72
A-II-2 76110WBW5 60,012,000.00 32,757,142.01 5.252340 % 1,564,706.04
M-II-1 76110WBZ8 15,751,000.00 15,751,000.00 5.462340 % 0.00
M-II-2 76110WCA2 9,226,000.00 9,226,000.00 5.622340 % 0.00
B-II 76110WCC8 5,901,000.00 5,901,000.00 6.092340 % 0.00
SB-I 996.58 2,000,420.00 0.000000 % 0.00
SB-II 1,161.22 5,000,020.00 0.000000 % 0.00
R-I 0.00 0.00 0.000000 % 0.00
R-II 0.00 0.00 0.000000 % 0.00
R-III 0.00 0.00 0.000000 % 0.00
- -------------------------------------------------------------------------------
450,045,157.80 285,733,951.61 10,301,137.78
===============================================================================
_______________________________________________________________________________
REMAINING
INTEREST TOTAL DEFERRED REALIZED PRINCIPAL
DISTRIBUTION DISTRIBUTION INTEREST LOSSES BALANCE
_______________________________________________________________________________
A-I-1 15,041.68 3,209,127.48 0.00 0.00 0.00
A-I-2 109,166.67 1,933,229.89 0.00 0.00 18,175,936.78
A-I-3 182,586.67 182,586.67 0.00 0.00 32,800,000.00
A-I-4 93,725.00 93,725.00 0.00 0.00 16,300,000.00
A-I-5 133,146.25 133,146.25 0.00 0.00 22,038,000.00
A-I-6 105,800.00 105,800.00 0.00 0.00 18,400,000.00
M-I-1 53,636.92 53,636.92 0.00 0.00 9,002,000.00
M-I-2 26,343.63 26,343.63 0.00 0.00 4,301,000.00
B-I 17,218.88 17,218.88 0.00 0.00 2,701,000.00
A-II-1 417,387.05 4,135,669.77 0.00 0.00 82,644,001.08
A-II-2 157,714.01 1,722,420.05 0.00 0.00 31,192,435.97
M-II-1 78,867.54 78,867.54 0.00 0.00 15,751,000.00
M-II-2 47,549.07 47,549.07 0.00 0.00 9,226,000.00
B-II 32,954.99 32,954.99 0.00 0.00 5,901,000.00
SB-I 305,070.65 305,070.65 0.00 0.00 2,000,420.00
SB-II 500,679.85 500,679.85 0.00 0.00 5,000,020.00
R-I 0.00 0.00 0.00 0.00 0.00
R-II 0.00 0.00 0.00 0.00 0.00
R-III 0.00 0.00 0.00 0.00 0.00
- -------------------------------------------------------------------------------
2,276,888.86 12,578,026.64 0.00 0.00 275,432,813.83
===============================================================================
Run: 12/29/98 16:49:28
Page: 2 of 3
RESIDENTIAL FUNDING CORPORATION (MASTER SERVICER)
RESIDENTIAL ASSET SECURITIES CORPORATION (COMPANY)
MORTGAGE PASS-THROUGH CERTIFICATES SERIES 1997-KS3(POOL # 4259)
STATEMENT TO CERTIFICATEHOLDERS
DISTRIBUTION SUMMARY FOR POOL# 4259
_______________________________________________________________________________
AMOUNTS PER $1,000 UNIT
_______________________________________________________________________________
BEGINNING ENDING
BALANCE PRINCIPAL INTEREST TOTAL DEFERRED BALANCE
CLASS FACTOR FACTOR FACTOR DISTRIBUTION INTEREST FACTOR
_______________________________________________________________________________
A-I-1 42.873635 42.873635 0.201902 43.075537 0.000000 0.000000
A-I-2 1000.000000 91.203161 5.458334 96.661495 0.000000 908.796839
A-I-3 1000.000000 0.000000 5.566667 5.566667 0.000000 1000.000000
A-I-4 1000.000000 0.000000 5.750000 5.750000 0.000000 1000.000000
A-I-5 1000.000000 0.000000 6.041667 6.041667 0.000000 1000.000000
A-I-6 1000.000000 0.000000 5.750000 5.750000 0.000000 1000.000000
M-I-1 1000.000000 0.000000 5.958334 5.958334 0.000000 1000.000000
M-I-2 1000.000000 0.000000 6.125001 6.125001 0.000000 1000.000000
B-I 1000.000000 0.000000 6.375002 6.375002 0.000000 1000.000000
A-II-1 542.780096 23.369112 2.623244 25.992356 0.000000 519.410984
A-II-2 545.843198 26.073219 2.628041 28.701260 0.000000 519.769979
M-II-1 1000.000000 0.000000 5.007145 5.007145 0.000000 1000.000000
M-II-2 1000.000000 0.000000 5.153812 5.153812 0.000000 1000.000000
B-II 1000.000000 0.000000 5.584645 5.584645 0.000000 1000.000000
_______________________________________________________________________________
DETERMINATION DATE 21-December-98
DISTRIBUTION DATE 28-December-98
Run: 12/29/98 16:49:28 rept2.frg
Page: 3 of 3
RESIDENTIAL FUNDING CORPORATION (MASTER SERVICER)
RESIDENTIAL ASSET SECURITIES CORPORATION (COMPANY)
MORTGAGE PASS-THROUGH CERTIFICATES 1997-KS3 (POOL # 4259)
STATEMENT TO CERTIFICATEHOLDERS
ADDITIONAL RELATED INFORMATION FOR POOL 4259
_______________________________________________________________________________
SERVICING COMPENSATION RECEIVED BY SUB-SERVICER 115,369.36
SERVICING COMPENSATION RECEIVED BY MASTER SERVICER 0.00
SUBSERVICER ADVANCES THIS MONTH 236,849.62
MASTER SERVICER ADVANCES THIS MONTH 24,858.35
NUMBER OF PRINCIPAL
DELINQUENCIES: LOANS BALANCE
(A) ONE MONTHLY PAYMENT: 91 7,978,201.90
(B) TWO MONTHLY PAYMENTS: 37 3,060,041.06
(C) THREE OR MORE MONTHLY PAYMENTS: 70 5,609,192.30
FORECLOSURES
NUMBER OF LOANS 118
AGGREGATE PRINCIPAL BALANCE 9,234,272.58
SCHEDULED PRINCIPAL BALANCE OF MORTGAGE LOANS AFTER
DISTRIBUTION 275,432,813.83
AGGREGATE NUMBER OF LOANS IN THE POOL AS OF THE
DETERMINATION DATE 2,901
NUMBER OF REO LOANS ACQUIRED
INCLUDING ANY PENDING CASH LIQUIDATIONS 24
BOOK VALUE OF REAL ESTATE ACQUIRED THROUGH
FORECLOSURE OR GRANT OF A DEED IN LIEU OF
FORECLOSURE, INCLUDING ANY PENDING CASH LIQUIDATIONS 2,668,768.59
REMAINING SUBCLASS INTEREST SHORTFALL 0.00
CLASS A SHORTFALL (PRINCIPAL) 0.00
CLASS A SHORTFALL (INTEREST) 0.00
TOTAL PREPAYMENTS INCLUDED IN THIS DISTRIBUTION 9,707,867.67
TOTAL REPURCHASES INCLUDED IN THIS DISTRIBUTION 373,814.12
DISTRIBUTION PERCENTAGES:
SENIOR CLASS M CLASS B
CURRENT DISTRIBUTION 81.14244400 % 0.00000000 % 18.85755600 %
PREPAYMENT PERCENT 100.00000000 % 0.00000000 % 0.00000000 %
NEXT DISTRIBUTION 80.43717480 % 0.00000000 % 19.56282520 %
BANKRUPTCY AMOUNT AVAILABLE 100,000.00
FRAUD AMOUNT AVAILABLE **,***,***.**
SPECIAL HAZARD AMOUNT AVAILABLE 60,012,900.00
ENDING GROSS WEIGHTED AVERAGE INTEREST RATE 10.32449000
ENDING WEIGHTED AVERAGE MATURITY, IN MONTHS 317.42
POOL TRADING FACTOR: 61.20115039
................................................................................
Run: 12/29/98 16:49:29 REPT1B.FRG
Page: 1 of 2
RESIDENTIAL FUNDING CORPORATION (MASTER SERVICER)
RESIDENTIAL ASSET SECURITIES CORPORATION (COMPANY)
MORTGAGE PASS-THROUGH CERTIFICATES SERIES 1997-KS4(POOL # 4272)
STATEMENT TO CERTIFICATEHOLDERS
DISTRIBUTION SUMMARY FOR POOL# 4272
_______________________________________________________________________________
PRINCIPAL CURRENT
ORIGINAL BALANCE BEFORE PASS-THROUGH PRINCIPAL
CLASS CUSIP FACE VALUE DISTRIBUTION RATE DISTRIBUTION
_______________________________________________________________________________
A-I-1 76110WCF1 79,798,000.00 32,687,715.66 5.182340 % 5,417,905.55
A-I-2 76110WCG9 15,000,000.00 15,000,000.00 6.460000 % 0.00
A-I-3 76110WCH7 32,000,000.00 32,000,000.00 6.560000 % 0.00
A-I-4 76110WCJ3 30,000,000.00 30,000,000.00 6.720000 % 0.00
A-I-5 76110WCK0 23,257,000.00 23,257,000.00 6.980000 % 0.00
A-I-6 76110WCL8 20,000,000.00 20,000,000.00 6.680000 % 0.00
A-II-1 76110WCM6 200,060,000.00 138,367,790.37 5.262340 % 5,730,540.95
A-II-2 76110WCN4 200,020,000.00 136,812,639.06 5.237340 % 9,486,722.26
SB-I 76110WCQ7 768.84 2,000,557.69 0.000000 % 0.00
SB-II 76110WCP9 504.57 8,001,610.09 0.000000 % 0.00
R-I 0.00 0.00 0.000000 % 0.00
R-II 0.00 0.00 0.000000 % 0.00
R-III 0.00 0.00 0.000000 % 0.00
- -------------------------------------------------------------------------------
600,136,273.41 438,127,312.87 20,635,168.76
===============================================================================
_______________________________________________________________________________
REMAINING
INTEREST TOTAL DEFERRED REALIZED PRINCIPAL
DISTRIBUTION DISTRIBUTION INTEREST LOSSES BALANCE
_______________________________________________________________________________
A-I-1 155,282.29 5,573,187.84 0.00 0.00 27,269,810.11
A-I-2 80,750.00 80,750.00 0.00 0.00 15,000,000.00
A-I-3 174,933.33 174,933.33 0.00 0.00 32,000,000.00
A-I-4 168,000.00 168,000.00 0.00 0.00 30,000,000.00
A-I-5 135,278.22 135,278.22 0.00 0.00 23,257,000.00
A-I-6 111,333.33 111,333.33 0.00 0.00 20,000,000.00
A-II-1 667,460.16 6,398,001.11 0.00 0.00 132,637,249.42
A-II-2 656,823.11 10,143,545.37 0.00 0.00 127,325,916.80
SB-I 411,144.02 411,144.02 0.00 0.00 2,000,557.69
SB-II 879,618.45 879,618.45 0.00 0.00 8,001,610.09
R-I 0.00 0.00 0.00 0.00 0.00
R-II 0.00 0.00 0.00 0.00 0.00
R-III 0.00 0.00 0.00 0.00 0.00
- -------------------------------------------------------------------------------
3,440,622.91 24,075,791.67 0.00 0.00 417,492,144.11
===============================================================================
_______________________________________________________________________________
AMOUNTS PER $1,000 UNIT
_______________________________________________________________________________
BEGINNING ENDING
BALANCE PRINCIPAL INTEREST TOTAL DEFERRED BALANCE
CLASS FACTOR FACTOR FACTOR DISTRIBUTION INTEREST FACTOR
_______________________________________________________________________________
A-I-1 409.630763 67.895255 1.945942 69.841197 0.000000 341.735509
A-I-2 1000.000000 0.000000 5.383333 5.383333 0.000000 1000.000000
A-I-3 1000.000000 0.000000 5.466667 5.466667 0.000000 1000.000000
A-I-4 1000.000000 0.000000 5.600000 5.600000 0.000000 1000.000000
A-I-5 1000.000000 0.000000 5.816667 5.816667 0.000000 1000.000000
A-I-6 1000.000000 0.000000 5.566667 5.566667 0.000000 1000.000000
A-II-1 691.631462 28.644112 3.336300 31.980412 0.000000 662.987351
A-II-2 683.994796 47.428868 3.283787 50.712655 0.000000 636.565927
_______________________________________________________________________________
DETERMINATION DATE 21-December-98
DISTRIBUTION DATE 28-December-98
Run: 12/29/98 16:49:29 rept2.frg
Page: 2 of 2
RESIDENTIAL FUNDING CORPORATION (MASTER SERVICER)
RESIDENTIAL ASSET SECURITIES CORPORATION (COMPANY)
MORTGAGE PASS-THROUGH CERTIFICATES 1997-KS4 (POOL # 4272)
STATEMENT TO CERTIFICATEHOLDERS
ADDITIONAL RELATED INFORMATION FOR POOL 4272
_______________________________________________________________________________
SERVICING COMPENSATION RECEIVED BY SUB-SERVICER 177,557.13
SERVICING COMPENSATION RECEIVED BY MASTER SERVICER 0.00
SUBSERVICER ADVANCES THIS MONTH 341,872.34
MASTER SERVICER ADVANCES THIS MONTH 16,119.65
NUMBER OF PRINCIPAL
DELINQUENCIES: LOANS BALANCE
(A) ONE MONTHLY PAYMENT: 125 11,350,707.05
(B) TWO MONTHLY PAYMENTS: 68 6,767,091.17
(C) THREE OR MORE MONTHLY PAYMENTS: 73 6,743,724.43
FORECLOSURES
NUMBER OF LOANS 127
AGGREGATE PRINCIPAL BALANCE 14,335,353.63
SCHEDULED PRINCIPAL BALANCE OF MORTGAGE LOANS AFTER
DISTRIBUTION 417,492,144.11
AGGREGATE NUMBER OF LOANS IN THE POOL AS OF THE
DETERMINATION DATE 4,250
NUMBER OF REO LOANS ACQUIRED
INCLUDING ANY PENDING CASH LIQUIDATIONS 16
BOOK VALUE OF REAL ESTATE ACQUIRED THROUGH
FORECLOSURE OR GRANT OF A DEED IN LIEU OF
FORECLOSURE, INCLUDING ANY PENDING CASH LIQUIDATIONS 1,803,769.34
REMAINING SUBCLASS INTEREST SHORTFALL 0.00
CLASS A SHORTFALL (PRINCIPAL) 0.00
CLASS A SHORTFALL (INTEREST) 0.00
TOTAL PREPAYMENTS INCLUDED IN THIS DISTRIBUTION 20,021,293.42
TOTAL REPURCHASES INCLUDED IN THIS DISTRIBUTION 304,528.59
DISTRIBUTION PERCENTAGES:
SENIOR SUBORDINATE
PERCENTAGE FOR CURRENT DISTRIBUTION 97.71706360 % 2.28293640 %
CURRENT PREPAYMENT PERCENTAGE 0.00000000 % 100.00000000 %
PERCENTAGE FOR NEXT DISTRIBUTION 97.60422610 % 2.39577390 %
BANKRUPTCY AMOUNT AVAILABLE 100,000.00
FRAUD AMOUNT AVAILABLE 1,993,552.00
SPECIAL HAZARD AMOUNT AVAILABLE 1,544,333.00
ENDING GROSS WEIGHTED AVERAGE INTEREST RATE 10.28977200
ENDING WEIGHTED AVERAGE MATURITY, IN MONTHS 330.23
POOL TRADING FACTOR: 69.56622397
................................................................................
Run: 12/29/98 16:49:31 REPT1B.FRG
Page: 1 of 3
RESIDENTIAL FUNDING CORPORATION (MASTER SERVICER)
RESIDENTIAL ASSET SECURITIES CORPORATION (COMPANY)
MORTGAGE ASSET-BACKED PASS-THROUGH CERTIFICATES SERIES 1998-KS1(POOL # 4291)
STATEMENT TO CERTIFICATEHOLDERS
DISTRIBUTION SUMMARY FOR POOL# 4291
_______________________________________________________________________________
PRINCIPAL CURRENT
ORIGINAL BALANCE BEFORE PASS-THROUGH PRINCIPAL
CLASS CUSIP FACE VALUE DISTRIBUTION RATE DISTRIBUTION
_______________________________________________________________________________
A-I-1 76110WCR5 70,000,000.00 14,411,269.33 6.940000 % 8,990,981.07
A-I-2 76110WCS3 35,000,000.00 35,000,000.00 6.450000 % 0.00
A-I-3 76110WCT1 100,000,000.00 100,000,000.00 6.285000 % 0.00
A-I-4 76110WCU8 31,000,000.00 31,000,000.00 6.390000 % 0.00
A-I-5 76110WCV6 31,000,000.00 31,000,000.00 6.505000 % 0.00
A-I-6 76110WCW4 30,000,000.00 30,000,000.00 6.585000 % 0.00
A-I-7 76110WCX2 20,000,000.00 20,000,000.00 6.810000 % 0.00
A-I-8 76110WCY0 25,448,000.00 25,448,000.00 7.010000 % 0.00
A-I-9 76110WCZ7 38,000,000.00 38,000,000.00 6.445000 % 0.00
A-II-1 76110WDA1 150,000,000.00 120,720,467.65 5.262340 % 3,576,374.04
A-II-2 76110WDB9 325,000,000.00 272,055,761.13 5.237340 % 10,385,563.46
SB-I 76110WDC7 33.88 3,424,032.30 0.000000 % 0.00
SB-II 76110WDD5 73,292.19 10,162,002.01 0.000000 % 0.00
R-I 0.00 0.00 0.000000 % 0.00
R-II 0.00 0.00 0.000000 % 0.00
R-III 0.00 0.00 0.000000 % 0.00
- -------------------------------------------------------------------------------
855,521,326.07 731,221,532.42 22,952,918.57
===============================================================================
_______________________________________________________________________________
REMAINING
INTEREST TOTAL DEFERRED REALIZED PRINCIPAL
DISTRIBUTION DISTRIBUTION INTEREST LOSSES BALANCE
_______________________________________________________________________________
A-I-1 83,345.17 9,074,326.24 0.00 0.00 5,420,288.26
A-I-2 188,125.00 188,125.00 0.00 0.00 35,000,000.00
A-I-3 523,750.00 523,750.00 0.00 0.00 100,000,000.00
A-I-4 165,075.00 165,075.00 0.00 0.00 31,000,000.00
A-I-5 168,045.83 168,045.83 0.00 0.00 31,000,000.00
A-I-6 164,625.00 164,625.00 0.00 0.00 30,000,000.00
A-I-7 113,500.00 113,500.00 0.00 0.00 20,000,000.00
A-I-8 148,658.73 148,658.73 0.00 0.00 25,448,000.00
A-I-9 204,091.67 204,091.67 0.00 0.00 38,000,000.00
A-II-1 582,332.80 4,158,706.84 0.00 0.00 117,144,093.61
A-II-2 1,306,111.14 11,691,674.60 0.00 0.00 261,670,197.67
SB-I 762,161.13 762,161.13 0.00 0.00 3,424,032.30
SB-II 0.00 0.00 1,233,090.80 0.00 11,395,092.81
R-I 0.00 0.00 0.00 0.00 0.00
R-II 0.00 0.00 0.00 0.00 0.00
R-III 0.00 0.00 0.00 0.00 0.00
- -------------------------------------------------------------------------------
4,409,821.47 27,362,740.04 1,233,090.80 0.00 709,501,704.65
===============================================================================
Run: 12/29/98 16:49:31
Page: 2 of 3
RESIDENTIAL FUNDING CORPORATION (MASTER SERVICER)
RESIDENTIAL ASSET SECURITIES CORPORATION (COMPANY)
MORTGAGE ASSET-BACKED PASS-THROUGH CERTIFICATES SERIES 1998-KS1(POOL # 4291)
STATEMENT TO CERTIFICATEHOLDERS
DISTRIBUTION SUMMARY FOR POOL# 4291
_______________________________________________________________________________
AMOUNTS PER $1,000 UNIT
_______________________________________________________________________________
BEGINNING ENDING
BALANCE PRINCIPAL INTEREST TOTAL DEFERRED BALANCE
CLASS FACTOR FACTOR FACTOR DISTRIBUTION INTEREST FACTOR
_______________________________________________________________________________
A-I-1 205.875276 128.442587 1.190645 129.633232 0.000000 77.432689
A-I-2 1000.000000 0.000000 5.375000 5.375000 0.000000 1000.000000
A-I-3 1000.000000 0.000000 5.237500 5.237500 0.000000 1000.000000
A-I-4 1000.000000 0.000000 5.325000 5.325000 0.000000 1000.000000
A-I-5 1000.000000 0.000000 5.420833 5.420833 0.000000 1000.000000
A-I-6 1000.000000 0.000000 5.487500 5.487500 0.000000 1000.000000
A-I-7 1000.000000 0.000000 5.675000 5.675000 0.000000 1000.000000
A-I-8 1000.000000 0.000000 5.841667 5.841667 0.000000 1000.000000
A-I-9 1000.000000 0.000000 5.370833 5.370833 0.000000 1000.000000
A-II-1 804.803118 23.842494 3.882219 27.724713 0.000000 780.960624
A-II-2 837.094650 31.955580 4.018804 35.974384 0.000000 805.139070
_______________________________________________________________________________
DETERMINATION DATE 21-December-98
DISTRIBUTION DATE 28-December-98
Run: 12/29/98 16:49:32 rept2.frg
Page: 3 of 3
RESIDENTIAL FUNDING CORPORATION (MASTER SERVICER)
RESIDENTIAL ASSET SECURITIES CORPORATION (COMPANY)
MORTGAGE ASSET-BACKED PASS-THROUGH CERTIFICATES 1998-KS1 (POOL # 4291)
STATEMENT TO CERTIFICATEHOLDERS
ADDITIONAL RELATED INFORMATION FOR POOL 4291
_______________________________________________________________________________
SERVICING COMPENSATION RECEIVED BY SUB-SERVICER 299,314.50
SERVICING COMPENSATION RECEIVED BY MASTER SERVICER 0.00
SUBSERVICER ADVANCES THIS MONTH 364,843.01
MASTER SERVICER ADVANCES THIS MONTH 7,618.70
NUMBER OF PRINCIPAL
DELINQUENCIES: LOANS BALANCE
(A) ONE MONTHLY PAYMENT: 202 18,046,095.32
(B) TWO MONTHLY PAYMENTS: 62 6,033,729.19
(C) THREE OR MORE MONTHLY PAYMENTS: 98 8,246,022.54
FORECLOSURES
NUMBER OF LOANS 99
AGGREGATE PRINCIPAL BALANCE 9,978,077.89
SCHEDULED PRINCIPAL BALANCE OF MORTGAGE LOANS AFTER
DISTRIBUTION 709,501,704.65
AGGREGATE NUMBER OF LOANS IN THE POOL AS OF THE
DETERMINATION DATE 7,199
NUMBER OF REO LOANS ACQUIRED
INCLUDING ANY PENDING CASH LIQUIDATIONS 9
BOOK VALUE OF REAL ESTATE ACQUIRED THROUGH
FORECLOSURE OR GRANT OF A DEED IN LIEU OF
FORECLOSURE, INCLUDING ANY PENDING CASH LIQUIDATIONS 931,243.25
REMAINING SUBCLASS INTEREST SHORTFALL 0.00
CLASS A SHORTFALL (PRINCIPAL) 0.00
CLASS A SHORTFALL (INTEREST) 0.00
TOTAL PREPAYMENTS INCLUDED IN THIS DISTRIBUTION 20,955,526.19
TOTAL REPURCHASES INCLUDED IN THIS DISTRIBUTION 150,354.91
DISTRIBUTION PERCENTAGES:
SENIOR SUBORDINATE
PERCENTAGE FOR CURRENT DISTRIBUTION 98.14200840 % 1.85799160 %
CURRENT PREPAYMENT PERCENTAGE 100.00000000 % 0.00000000 %
PERCENTAGE FOR NEXT DISTRIBUTION 97.91133340 % 2.08866660 %
BANKRUPTCY AMOUNT AVAILABLE 357,952.00
FRAUD AMOUNT AVAILABLE 25,665,640.00
SPECIAL HAZARD AMOUNT AVAILABLE 8,555,213.00
ENDING GROSS WEIGHTED AVERAGE INTEREST RATE 10.01254000
ENDING WEIGHTED AVERAGE MATURITY, IN MONTHS 332.60
POOL TRADING FACTOR: 82.93208866
................................................................................
Run: 12/29/98 16:49:32 REPT1B.FRG
Page: 1 of 3
RESIDENTIAL FUNDING CORPORATION (MASTER SERVICER)
RESIDENTIAL ASSET SECURITIES CORPORATION (COMPANY)
MORTGAGE ASSET-BACKED PASS-THROUGH CERTIFICATES SERIES 1998-KS2(POOL # 4303)
STATEMENT TO CERTIFICATEHOLDERS
DISTRIBUTION SUMMARY FOR POOL# 4303
_______________________________________________________________________________
PRINCIPAL CURRENT
ORIGINAL BALANCE BEFORE PASS-THROUGH PRINCIPAL
CLASS CUSIP FACE VALUE DISTRIBUTION RATE DISTRIBUTION
_______________________________________________________________________________
A-I-1 76110WDE3 62,000,000.00 37,767,305.37 6.775000 % 6,238,361.33
A-I-2 76110WDF0 65,000,000.00 65,000,000.00 6.400000 % 0.00
A-I-3 76110WDG8 72,000,000.00 72,000,000.00 6.240000 % 0.00
A-I-4 76110WDH6 33,000,000.00 33,000,000.00 6.355000 % 0.00
A-I-5 76110WDJ2 19,000,000.00 19,000,000.00 6.400000 % 0.00
A-I-6 76110WDK9 20,000,000.00 20,000,000.00 6.485000 % 0.00
A-I-7 76110WDU7 18,000,000.00 18,000,000.00 6.630000 % 0.00
A-I-8 76110WDV5 16,600,000.00 16,600,000.00 6.805000 % 0.00
A-I-9 76110WDW3 33,900,000.00 33,900,000.00 6.415000 % 0.00
A-II-1 76110WDL7 370,000,000.00 336,700,491.48 5.207340 % 7,273,002.57
A-II-2 76110WDM5 75,000,000.00 67,214,687.31 5.192340 % 1,434,212.31
M-I-1 76110WDN3 19,085,000.00 19,085,000.00 6.720000 % 0.00
M-I-2 76110WDP8 13,058,000.00 13,058,000.00 6.980000 % 0.00
M-I-3 76110WDQ6 9,041,000.00 9,041,000.00 7.620000 % 0.00
B-I-1 76110WDR4 10,246,000.00 10,246,000.00 9.179000 % 0.00
B-I-2 76110WDS2 5,425,000.00 5,425,000.00 9.649000 % 0.00
B-I-3 76110WDT0 5,426,154.06 5,426,154.06 9.649000 % 0.00
SB-I 76110WDX1 0.00 0.00 0.000000 % 0.00
SB-II 76110WDX9 202,335.73 6,315,302.33 0.000000 % 0.00
R-I 0.00 0.00 0.000000 % 0.00
R-II 0.00 0.00 0.000000 % 0.00
R-III 0.00 0.00 0.000000 % 0.00
- -------------------------------------------------------------------------------
846,983,489.79 787,778,940.55 14,945,576.21
===============================================================================
_______________________________________________________________________________
REMAINING
INTEREST TOTAL DEFERRED REALIZED PRINCIPAL
DISTRIBUTION DISTRIBUTION INTEREST LOSSES BALANCE
_______________________________________________________________________________
A-I-1 213,227.91 6,451,589.24 0.00 0.00 31,528,944.04
A-I-2 346,666.67 346,666.67 0.00 0.00 65,000,000.00
A-I-3 374,400.00 374,400.00 0.00 0.00 72,000,000.00
A-I-4 174,762.50 174,762.50 0.00 0.00 33,000,000.00
A-I-5 101,333.33 101,333.33 0.00 0.00 19,000,000.00
A-I-6 108,083.33 108,083.33 0.00 0.00 20,000,000.00
A-I-7 99,450.00 99,450.00 0.00 0.00 18,000,000.00
A-I-8 94,135.83 94,135.83 0.00 0.00 16,600,000.00
A-I-9 181,223.75 181,223.75 0.00 0.00 33,900,000.00
A-II-1 1,607,204.44 8,880,207.01 0.00 0.00 329,427,488.91
A-II-2 319,918.05 1,754,130.36 0.00 0.00 65,780,475.00
M-I-1 106,876.00 106,876.00 0.00 0.00 19,085,000.00
M-I-2 75,954.03 75,954.03 0.00 0.00 13,058,000.00
M-I-3 57,410.35 57,410.35 0.00 0.00 9,041,000.00
B-I-1 78,373.36 78,373.36 0.00 0.00 10,246,000.00
B-I-2 43,621.52 43,621.52 0.00 0.00 5,425,000.00
B-I-3 43,630.80 43,630.80 0.00 0.00 5,426,154.06
SB-I 883,612.98 883,612.98 0.00 0.00 0.00
SB-II 0.00 0.00 1,212,394.37 0.00 7,527,696.70
R-I 0.00 0.00 0.00 0.00 0.00
R-II 0.00 0.00 0.00 0.00 0.00
R-III 0.00 0.00 0.00 0.00 0.00
- -------------------------------------------------------------------------------
4,909,884.85 19,855,461.06 1,212,394.37 0.00 774,045,758.71
===============================================================================
Run: 12/29/98 16:49:32
Page: 2 of 3
RESIDENTIAL FUNDING CORPORATION (MASTER SERVICER)
RESIDENTIAL ASSET SECURITIES CORPORATION (COMPANY)
MORTGAGE ASSET-BACKED PASS-THROUGH CERTIFICATES SERIES 1998-KS2(POOL # 4303)
STATEMENT TO CERTIFICATEHOLDERS
DISTRIBUTION SUMMARY FOR POOL# 4303
_______________________________________________________________________________
AMOUNTS PER $1,000 UNIT
_______________________________________________________________________________
BEGINNING ENDING
BALANCE PRINCIPAL INTEREST TOTAL DEFERRED BALANCE
CLASS FACTOR FACTOR FACTOR DISTRIBUTION INTEREST FACTOR
_______________________________________________________________________________
A-I-1 609.150087 100.618731 3.439160 104.057891 0.000000 508.531356
A-I-2 1000.000000 0.000000 5.333333 5.333333 0.000000 1000.000000
A-I-3 1000.000000 0.000000 5.200000 5.200000 0.000000 1000.000000
A-I-4 1000.000000 0.000000 5.295833 5.295833 0.000000 1000.000000
A-I-5 1000.000000 0.000000 5.333333 5.333333 0.000000 1000.000000
A-I-6 1000.000000 0.000000 5.404167 5.404167 0.000000 1000.000000
A-I-7 1000.000000 0.000000 5.525000 5.525000 0.000000 1000.000000
A-I-8 1000.000000 0.000000 5.670833 5.670833 0.000000 1000.000000
A-I-9 1000.000000 0.000000 5.345833 5.345833 0.000000 1000.000000
A-II-1 910.001328 19.656764 4.343796 24.000560 0.000000 890.344565
A-II-2 896.195831 19.122831 4.265574 23.388405 0.000000 877.073000
M-I-1 1000.000000 0.000000 5.600000 5.600000 0.000000 1000.000000
M-I-2 1000.000000 0.000000 5.816666 5.816666 0.000000 1000.000000
M-I-3 1000.000000 0.000000 6.350000 6.350000 0.000000 1000.000000
B-I-1 1000.000000 0.000000 7.649167 7.649167 0.000000 1000.000000
B-I-2 1000.000000 0.000000 8.040833 8.040833 0.000000 1000.000000
B-I-3 1000.000000 0.000000 8.040833 8.040833 0.000000 1000.000000
_______________________________________________________________________________
DETERMINATION DATE 21-December-98
DISTRIBUTION DATE 28-December-98
Run: 12/29/98 16:49:33 rept2.frg
Page: 3 of 3
RESIDENTIAL FUNDING CORPORATION (MASTER SERVICER)
RESIDENTIAL ASSET SECURITIES CORPORATION (COMPANY)
MORTGAGE ASSET-BACKED PASS-THROUGH CERTIFICATES 1998-KS2 (POOL # 4303)
STATEMENT TO CERTIFICATEHOLDERS
ADDITIONAL RELATED INFORMATION FOR POOL 4303
_______________________________________________________________________________
SERVICING COMPENSATION RECEIVED BY SUB-SERVICER 324,777.64
SERVICING COMPENSATION RECEIVED BY MASTER SERVICER 0.00
SUBSERVICER ADVANCES THIS MONTH 568,941.18
MASTER SERVICER ADVANCES THIS MONTH 1,260.43
NUMBER OF PRINCIPAL
DELINQUENCIES: LOANS BALANCE
(A) ONE MONTHLY PAYMENT: 338 28,623,791.57
(B) TWO MONTHLY PAYMENTS: 146 12,131,955.59
(C) THREE OR MORE MONTHLY PAYMENTS: 225 17,812,878.24
FORECLOSURES
NUMBER OF LOANS 67
AGGREGATE PRINCIPAL BALANCE 5,500,971.01
SCHEDULED PRINCIPAL BALANCE OF MORTGAGE LOANS AFTER
DISTRIBUTION 774,045,758.71
AGGREGATE NUMBER OF LOANS IN THE POOL AS OF THE
DETERMINATION DATE 8,431
NUMBER OF REO LOANS ACQUIRED
INCLUDING ANY PENDING CASH LIQUIDATIONS 2
BOOK VALUE OF REAL ESTATE ACQUIRED THROUGH
FORECLOSURE OR GRANT OF A DEED IN LIEU OF
FORECLOSURE, INCLUDING ANY PENDING CASH LIQUIDATIONS 141,657.32
REMAINING SUBCLASS INTEREST SHORTFALL 0.00
CLASS A SHORTFALL (PRINCIPAL) 0.00
CLASS A SHORTFALL (INTEREST) 0.00
TOTAL PREPAYMENTS INCLUDED IN THIS DISTRIBUTION 13,096,388.67
TOTAL REPURCHASES INCLUDED IN THIS DISTRIBUTION 0.00
DISTRIBUTION PERCENTAGES:
SENIOR CLASS M CLASS B
CURRENT DISTRIBUTION 91.29242320 % 5.22786300 % 3.47971430 %
PREPAYMENT PERCENT 100.00000000 % 0.00000000 % 0.00000000 %
NEXT DISTRIBUTION 90.98130180 % 5.32061568 % 3.69808250 %
BANKRUPTCY AMOUNT AVAILABLE 151,371.00
FRAUD AMOUNT AVAILABLE 12,053,435.00
SPECIAL HAZARD AMOUNT AVAILABLE 4,017,812.00
ENDING GROSS WEIGHTED AVERAGE INTEREST RATE 10.02971100
ENDING WEIGHTED AVERAGE MATURITY, IN MONTHS 329.36
POOL TRADING FACTOR: 91.38852977
................................................................................
Run: 12/29/98 16:49:48 REPT1B.FRG
Page: 1 of 2
RESIDENTIAL FUNDING CORPORATION (MASTER SERVICER)
RESIDENTIAL ASSET SECURITIES CORPORATION (COMPANY)
HOME EQUITY MORTGAGE ASSET-BACKED PASS-THROUGH CERTIFICATES
SERIES 1998-KS3(POOL # 4330)
STATEMENT TO CERTIFICATEHOLDERS
DISTRIBUTION SUMMARY FOR POOL# 4330
_______________________________________________________________________________
PRINCIPAL CURRENT
ORIGINAL BALANCE BEFORE PASS-THROUGH PRINCIPAL
CLASS CUSIP FACE VALUE DISTRIBUTION RATE DISTRIBUTION
_______________________________________________________________________________
A-I-1 76110WDZ6 169,000,000.00 158,628,267.77 5.172340 % 6,704,713.97
A-I-2 76110WEA0 53,000,000.00 53,000,000.00 5.830000 % 0.00
A-I-3 76110WEB8 73,000,000.00 73,000,000.00 5.910000 % 0.00
A-I-4 76110WEC6 25,000,000.00 25,000,000.00 6.035000 % 0.00
A-I-5 76110WED4 36,000,000.00 36,000,000.00 6.160000 % 0.00
A-I-6 76110WEE2 49,121,000.00 49,121,000.00 5.542340 % 0.00
A-I-7 76110WEF9 45,000,000.00 45,000,000.00 5.980000 % 0.00
A-II 76110WEG7 425,000,000.00 412,745,347.74 5.242340 % 7,196,349.36
SB-I 84.30 2,692,602.78 0.000000 % 0.00
SB-II 129,754.99 2,598,936.90 0.000000 % 0.00
R-I 0.00 0.00 0.000000 % 0.00
R-II 0.00 0.00 0.000000 % 0.00
R-III 0.00 0.00 0.000000 % 0.00
- -------------------------------------------------------------------------------
875,250,839.29 857,786,155.19 13,901,063.33
===============================================================================
_______________________________________________________________________________
REMAINING
INTEREST TOTAL DEFERRED REALIZED PRINCIPAL
DISTRIBUTION DISTRIBUTION INTEREST LOSSES BALANCE
_______________________________________________________________________________
A-I-1 752,106.06 7,456,820.03 0.00 0.00 151,923,553.80
A-I-2 257,491.67 257,491.67 0.00 0.00 53,000,000.00
A-I-3 359,525.00 359,525.00 0.00 0.00 73,000,000.00
A-I-4 125,729.17 125,729.17 0.00 0.00 25,000,000.00
A-I-5 184,800.00 184,800.00 0.00 0.00 36,000,000.00
A-I-6 249,558.18 249,558.18 0.00 0.00 49,121,000.00
A-I-7 224,250.00 224,250.00 0.00 0.00 45,000,000.00
A-II 1,983,438.83 9,179,788.19 0.00 0.00 405,548,998.38
SB-I 0.00 0.00 1,296,329.46 0.00 3,988,932.24
SB-II 0.00 0.00 1,184,027.93 0.00 3,782,964.83
R-I 0.00 0.00 0.00 0.00 0.00
R-II 0.00 0.00 0.00 0.00 0.00
R-III 0.00 0.00 0.00 0.00 0.00
- -------------------------------------------------------------------------------
4,136,898.91 18,037,962.24 2,480,357.39 0.00 846,365,449.25
===============================================================================
_______________________________________________________________________________
AMOUNTS PER $1,000 UNIT
_______________________________________________________________________________
BEGINNING ENDING
BALANCE PRINCIPAL INTEREST TOTAL DEFERRED BALANCE
CLASS FACTOR FACTOR FACTOR DISTRIBUTION INTEREST FACTOR
_______________________________________________________________________________
A-I-1 938.628803 39.672864 4.450332 44.123196 0.000000 898.955940
A-I-2 1000.000000 0.000000 4.858333 4.858333 0.000000 1000.000000
A-I-3 1000.000000 0.000000 4.925000 4.925000 0.000000 1000.000000
A-I-4 1000.000000 0.000000 5.029167 5.029167 0.000000 1000.000000
A-I-5 1000.000000 0.000000 5.133333 5.133333 0.000000 1000.000000
A-I-6 1000.000000 0.000000 5.080478 5.080478 0.000000 1000.000000
A-I-7 1000.000000 0.000000 4.983333 4.983333 0.000000 1000.000000
A-II 971.165524 16.932587 4.666915 21.599502 0.000000 954.232937
_______________________________________________________________________________
DETERMINATION DATE 21-December-98
DISTRIBUTION DATE 28-December-98
Run: 12/29/98 16:49:49 rept2.frg
Page: 2 of 2
RESIDENTIAL FUNDING CORPORATION (MASTER SERVICER)
RESIDENTIAL ASSET SECURITIES CORPORATION (COMPANY)
HOME EQUITY MORTGAGE ASSET-BACKED PASS-THROUGH CERTIFICATES
1998-KS3 (POOL # 4330)
STATEMENT TO CERTIFICATEHOLDERS
ADDITIONAL RELATED INFORMATION FOR POOL 4330
_______________________________________________________________________________
SERVICING COMPENSATION RECEIVED BY SUB-SERVICER 354,801.97
SERVICING COMPENSATION RECEIVED BY MASTER SERVICER 7,776.57
SUBSERVICER ADVANCES THIS MONTH 459,000.78
MASTER SERVICER ADVANCES THIS MONTH 0.00
NUMBER OF PRINCIPAL
DELINQUENCIES: LOANS BALANCE
(A) ONE MONTHLY PAYMENT: 374 29,300,308.52
(B) TWO MONTHLY PAYMENTS: 152 13,140,018.16
(C) THREE OR MORE MONTHLY PAYMENTS: 119 9,417,489.19
FORECLOSURES
NUMBER OF LOANS 4
AGGREGATE PRINCIPAL BALANCE 316,930.75
SCHEDULED PRINCIPAL BALANCE OF MORTGAGE LOANS AFTER
DISTRIBUTION 846,365,449.25
AGGREGATE NUMBER OF LOANS IN THE POOL AS OF THE
DETERMINATION DATE 9,382
NUMBER OF REO LOANS ACQUIRED
INCLUDING ANY PENDING CASH LIQUIDATIONS 0
BOOK VALUE OF REAL ESTATE ACQUIRED THROUGH
FORECLOSURE OR GRANT OF A DEED IN LIEU OF
FORECLOSURE, INCLUDING ANY PENDING CASH LIQUIDATIONS 0.00
REMAINING SUBCLASS INTEREST SHORTFALL 0.00
CLASS A SHORTFALL (PRINCIPAL) 0.00
CLASS A SHORTFALL (INTEREST) 0.00
TOTAL PREPAYMENTS INCLUDED IN THIS DISTRIBUTION 10,657,319.68
TOTAL REPURCHASES INCLUDED IN THIS DISTRIBUTION 0.00
DISTRIBUTION PERCENTAGES:
SENIOR SUBORDINATE
PERCENTAGE FOR CURRENT DISTRIBUTION 99.38311670 % 0.61688330 %
CURRENT PREPAYMENT PERCENTAGE 100.00000000 % 0.00000000 %
PERCENTAGE FOR NEXT DISTRIBUTION 99.08173270 % 0.91826730 %
BANKRUPTCY AMOUNT AVAILABLE 375,746.00
FRAUD AMOUNT AVAILABLE 26,257,525.18
SPECIAL HAZARD AMOUNT AVAILABLE 8,752,509.00
ENDING GROSS WEIGHTED AVERAGE INTEREST RATE 9.96658100
ENDING WEIGHTED AVERAGE MATURITY, IN MONTHS 329.55
POOL TRADING FACTOR: 96.69975866
................................................................................
