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: September 23, 1998
(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
<PAGE>
-2-
Item 5. Other Events.
On September 28, 1998, the Registrant will cause the issuance and
sale of $150,000,000.00 initial principal amount of Home Equity
Loan-Backed Term Notes, Series 1998-HS3, (the "Term Notes") pursuant to an
Indenture to be dated as of September 1, 1998, between Home Equity Loan
Trust 1998-HS3, as issuer and The Chase Manhattan
Bank, as Indenture Trustee.
In connection with the sale of the Term Notes by Residential Funding
Securities Corporation (the "Underwriter"), the Registrant has been
advised that the Underwriter has furnished to prospective investors
certain yield tables and other computational materials (the "Computational
Materials") with respect to the Term Notes following the effective date of
Registration Statement No. 333-28025, which Computational Materials are
being
filed manually as exhibits to this report.
The Computational Materials have been provided by the Underwriter.
The information in the Computational Materials is preliminary and may be
superseded by the Prospectus Supplement relating to the Certificates and
by any other information subsequently filed with the Securities and
Exchange Commission.
The Computational Materials consist of the pages that appear after
the Form SE cover sheet and the page headed "NOTICE". The Underwriter has
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 Underwriter 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 Term 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 the Term Notes might vary under varying prepayment and
other scenarios. Any difference between such assumptions and the actual
characteristics and
<PAGE>
-3-
performance of the Revolving Credit Loans will affect the actual yield,
average life, duration, expected maturity, interest rate sensitivity and
cash flow characteristics of the Term Notes.
Item 7Financial Statements, Pro Forma Financial Information and Exhibits
(a) Financial Statements.
Not applicable.
(b) Pro Forma Financial Information.
Not applicable.
(c) Exhibits
Item 601(a) of
Regulation S-K
Exhibit No. Exhibit No. Description
1 99 Computational Materials
<PAGE>
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:
Name: Diane S. Wold
Title:Vice President
Dated: September 21, 1998
<PAGE>
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: September 21, 1998
<PAGE>
EXHIBIT INDEX
Item 601 (a) of Sequentially
Exhibit Regulation S-K Numbered
Number Exhibit No. Description Page
1 99 ComputationaFilederials
Manually
<PAGE>
EXHIBIT
(Intentionally Omitted)
<PAGE>
