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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: December 23, 1996
(Date of earliest event reported)
Residential Accredit Loans Inc.
(Exact name of registrant as specified in its charter)
Delaware 33-95932 51-0368240
(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
[CMRASC.WPD December 7, 1995]
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Item 5. Other Events.
On December 23, 1996, the Registrant expects to cause the issuance and sale
of Mortgage Pass-Through Certificates, Series 1996-QS8 (the "Certificates")
pursuant to a Pooling and Servicing Agreement to be dated as of December 1,
1996, among the Registrant, Residential Funding Corporation, as Master Servicer,
and First National Bank of Chicago, as Trustee.
In connection with the expected sale of the Series 1996-QS8, [Class A-1,
Class A- 2, Class A-3, Class A-4, Class A-5, Class A-6, Class A-7, Class A-8,
Class A-9, Class A-10, Class A-11, Class A-12, Class A-13, Class R-I and Class
R-II. ] Certificates (the Credit Suisse First Boston Corporation "Underwritten
Certificates"),and Class M-1, M-2 and M-3 (the Morgan Stanley & Co., Inc.
"Underwritten Certificates"), the Registrants have been advised by Credit Suisse
First Boston Corporation and Morgan Stanley & Co. Incorporated (the
"Underwriters"), that the Underwriters have furnished to prospective investors
certain computational materials (the "Computational Materials") with respect to
the Underwritten Certificates following the effective date of the related
Registration Statement, which Computational Materials are being filed manually
as an exhibit to this report.
The Computational Materials filed herewith as Exhibit 99.1 constitute a
supplemental filing of additional Computational Materials. 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Computational Materials is preliminary and may be superseded by the Prospectus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 Certificates and by any other related information
subsequently filed with the Securities and Exchange Commission.
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 investors. The Computational
Materials may be based on assumptions that differ from the assumptions set forth
in the related 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 Mortgage
Loans underlying the Certificates 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
[CMRASC.WPD December 7, 1995]
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Certificates may very 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 Certificates.
Certain assumptions may have been made in the Computational Materials which
have resulted in certain returns which are detailed in the Computational
Materials. No representation is made that any returns set forth in the
Computational Materials will be achieved. Changes to the assumptions used
therein may have a material impact on any returns detailed. Past performance is
not indicative of future results.
Item 7. Financial Statements, Pro Forma Financial Information and Exhibits
(a) Financial Statements.
Not applicable.
(b) Pro Forma Financial Information.
Not applicable.
(C) Exhibits
Exhibit No.
Item 601(a) of
Regulation S-K
Exhibit No. Exhibit No. Description
1 99.1 Additional
Computational Materials
[CMRASC.WPD December 7, 1995]
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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 ACCREDIT
LOANS INC.
By: /s/ Randy Van Zee
Name:Randy Van Zee
Title: Vice President
Dated:December 30, 1996
[CMRASC.WPD December 7, 1995]
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EXHIBIT INDEX
Item 601 (a) of Sequentially
Exhibit Regulation S-K Numbered
Number Exhibit No. Description Format
1 99.1 Additional P
Computational
Materials
[CMRASC.WPD December 7, 1995]
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EXHIBIT 1
(Intentionally Omitted)
[CMRASC.WPD December 7, 1995]
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