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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: June 25, 1997
(Date of earliest event reported)
Residential Funding Mortgage Securities II, Inc.
(Exact name of registrant as specified in its charter)
DELAWARE 333-28025 41-1808858
(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
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Item 5. Other Events.
On or about June 26, 1997, the Registrant will cause the
issuance and sale of Home Loan-Backed Notes, Series 1997-HI3, (the
"Term Notes") issued pursuant to a an Indenture to be dated as of June
1, 1997, between Home Loan Equity Trust 1997-HI3, as issuer, and The
Chase Manhattan Bank, N.A., as indenture trustee.
In connection with the sale of the Class A-PB Notes
(collectively, the "Underwritten Notes"), the Registrant has been
advised by Residential Funding Securities Corporation as representative
for the Underwriters (the "Underwriters"), that the Underwriters have
furnished to prospective investors certain yield tables and other
additional computational materials (the "Additional Computational
Materials") with respect to the Underwritten Notes following the
effective date of Registration Statement No.333- 28025, which
Additional Computational Materials are being filed manually as exhibits
to this report.
The Additional Computational Materials have been provided by
the Underwriters. The information in the Additional 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Materials is preliminary and may be superseded by the Prospectus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 Additional Computational Materials consist of the pages
(the "Additional 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 Additional
Computational Materials may have been based on assumptions that
differed from the final pool information.
The Additional 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 Additional Computational Materials may
be based on assumptions that differ from the assumptions set forth in
the Prospectus Supplement. The Additional Computational Materials may
not include, and do not purport to include, information based on
assumptions representing a complete set of possible scenarios.
Accordingly, the Additional 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
Mortgage loans underlying the Underwritten Notes (the "Mortgage Loans")
may differ from the assumptions used in the Additional 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
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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
Mortgage 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
Regulation S-K
Exhibit No. Exhibit No. Description
1 99 Additional Computational Materials
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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 FUNDING MORTGAGE
SECURITIES II, INC.
By: /s/ Diane S. Wold
Name: Diane S. Wold
Title: Vice President
Dated: June 25, 1997
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EXHIBIT INDEX
Item 601 (a) of Sequentially
Exhibit Regulation S-K Numbered
Number Exhibit No. Description Page
Additional
1 99 Computational Materials Filed Manually
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EXHIBIT
(Intentionally Omitted)
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