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): March 25, 1999
Residential Funding Mortgage Securities II, Inc.
(Exact name of registrant as specified in its charter)
DELAWARE 333-28025 41-1808858
(State or other (Commission file number) (I.R.S. employer
jurisdiction of identification no.)
incorporation)
8400 Normandale Lake Blvd., Suite 600, Minneapolis, MN 55437
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(Address of principal executive offices) (Zip code)
Registrant's telephone number, including area code: (612) 832-7000
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(Former name or former address, if changed since last report)
Exhibit Index located on page 4.
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Items 1 through 6 and Item 8 are not included because they are not applicable.
Item 5. Other Events.
The consolidated financial statements of Ambac Assurance Corporation
("Ambac") and subsidiaries as of December 31, 1998 and 1997, and for each of the
years in the three-year period ended December 31, 1998, which report appears in
the Form 8-K of Ambac Financial Group, Inc. (which was filed with the Securities
and Exchange Commission on March 24, 1999) are hereby incorporated by reference
in (i) this Current Report on Form 8-K; (ii) the registration statement
(No.333-28025) of the Registrant (the "Prospectus"); and (iii) the Prospectus
Supplement for Home Equity Loan Pass-Through Certificates, Series 1999-HS2, and
shall be deemed to be a part hereof.
Item 7. Financial Statements, Pro Forma Financial Information and Exhibits.
(a) Not applicable
(b) Not applicable
(c) Exhibits
23. Consent of KPMG LLP, independent auditors of Ambac with respect
to (a) the incorporation by reference in the Prospectus and Prospectus
Supplement of their report dated January 27, 1999 on the audit of the
consolidated financial statements of Ambac and its subsidiaries as of December
31, 1998 and 1997 and for each of the years in the three-year period ended
December 31, 1998 and (b) with respect to the reference to their firm under the
caption "Experts" in the Prospectus Supplement.
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SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934,
the registrant has duly caused this report to be signed on its behalf by the
undersigned thereunto duly authorized.
RESIDENTIAL FUNDING MORTGAGE
SECURITIES II, INC.
By: /s/Timothy A. Kruse
Name: Timothy A. Kruse
Title: Vice President
Dated: March 25, 1999
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SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934,
the registrant has duly caused this report to be signed on its behalf by the
undersigned thereunto duly authorized.
RESIDENTIAL FUNDING MORTGAGE
SECURITIES II, INC.
By:
Name: Timothy A. Kruse
Title:Vice President
Dated: March 25, 1999
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Exhibit 23
INDEPENDENT AUDITORS' CONSENT
The Board of Directors
Ambac Assurance Corporation:
We consent to the incorporation by reference in the registration statement (No.
333-28025) of Residential Funding Mortgage Securities II, Inc. (the
"Registrant") and in the Prospectus Supplement of the Registrant (the
"Prospectus Supplement") via the form 8-K of the Registrant dated March 25,
1999, of our report dated January 27, 1999 on the consolidated financial
statements of Ambac Assurance Corporation and subsidiaries as of December 31,
1998 and 1997, and for each of the years in the three-year period ended December
31, 1998, which report appears in the Form 8-K of Ambac Financial Group, Inc.
which was filed with the Securities and Exchange Commission on March 24, 1999
and to the reference to our firm under the heading "Experts" in the Prospectus
Supplement.
/s/KPMG LLP
KPMG LLP
New York, New York
March 25, 1999
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