SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
Date of Report: May 23, 1996
(Date of earliest event reported)
Residential Funding Mortgage Securities II, Inc.
(Exact name of registrant as specified in its charter)
DELAWARE 33-80419 41-1808858
(State or Other
Jurisdiction (Commission (I.R.S. Employer
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 or about May 30, 1996, the Registrant will cause the
issuance and sale of Home Equity Loan-Backed Term Notes,
Series 1996-HS1, (the "Term Notes") issued pursuant to a
an Indenture to be dated as of May 1, 1996, between Home
Loan Equity Trust 1996-HS1, as issuer, and The Chase
Manhattan Bank, N.A., as indenture trustee.
In connection with the sale of the Term Notes
(collectively, the "Underwritten Notes"), the Registrant
has been advised by Morgan Stanley & Co. Incorporated as
representative for the Underwriters (the "Underwriters"),
that the Underwriters have furnished to prospective
investors certain yield tables and other computational
materials (the "Computational Materials") with respect to
the Underwritten Notes following the effective date of
Registration Statement No. 33-80419, which Computational
Materials are being filed manually as exhibits to this
report.
The Computational Materials have been provided by the
Underwriters. The information in the Computational
Materials is preliminary and may be superseded by the
Prospectus Supplement relating to the Underwritten Notes
and by any other information subsequently filed with the
Securities and Exchange Commission.
The Computational Materials consist of the first __
pages (the "Computational Materials") that appear after
the Form SE cover sheet and the page headed "NOTICE". The
Underwriters have advised the Registrant that certain
information in the Computational Materials may have been
based on assumptions that differed from the final pool
information.
The Computational Materials were prepared by the
Underwriters at the request of certain prospective
investors, based on assumptions provided by, and
satisfying the special requirements of, such prospective
investors. The Computational Materials may be based on
assumptions that differ from the assumptions set forth in
the Prospectus Supplement. The Computational Materials
may not include, and do not purport to include,
information based on assumptions representing a complete
set of possible scenarios. Accordingly, the
Computational Materials may not be relevant to or
appropriate for investors other than those specifically
requesting them.
In addition, the actual characteristics and performance
of the revolving credit loans underlying the Underwritten
Notes (the "Revolving Credit Loans") may differ from the
assumptions used in the Computational Materials, which
are hypothetical in nature and which were provided to
certain investors only to give a general sense of how the
yield, average life, duration, expected maturity,
interest rate sensitivity and cash flow characteristics
of a particular class of Underwritten Notes might vary
under varying prepayment and other scenarios. Any
difference between such assumptions and the actual
characteristics and performance of the Revolving Credit
Loans will affect the actual yield, average life,
duration, expected maturity, interest rate sensitivity
and cash flow characteristics of a particular class of
Underwritten Notes.
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
Exhibit No. Regulation S-K Description
Exhibit No.
1 99 Computational Materials
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 FUNDING MORTGAGE
SECURITIES II, INC.
By: /s/Bruce J. Legan
Name: Bruce J. Legan
Title: Vice President
Dated: May 23, 1996
EXHIBIT INDEX
Item 601 (a) of Sequentially
Exhibit Regulation S-K Numbered
Number Exhibit No. Description Page
1 99 Computational
Materials Filed
Manually
EXHIBIT
(Intentionally Omitted)
