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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: March 1, 1997
(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 March 27, 1997, the Registrant expects to cause the
issuance and sale of Mortgage Pass-Through Certificates, Series
1997-QS2 (the "Certificates") pursuant to a Pooling and Servicing
Agreement to be dated as of March 1, 1997, 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 1997-QS2,
[Class A-1 through Class A-8 and Class R. ] Certificates (the
"Underwritten Certificates"), the Registrant has been advised by Credit
Suisse First Boston (the "Underwriter"), that the Underwriter has
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 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Materials is preliminary and may be superseded by the Prospectus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 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.
[CMRASC.WPD December 7, 1995]
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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
Item 601(a) of
Regulation S-K
Exhibit No. Exhibit No. Description
1 99 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:March 21, 1997
[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 Computational P
Materials
[CMRASC.WPD December 7, 1995]
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EXHIBIT 1
(Intentionally Omitted)
[CMRASC.WPD December 7, 1995]
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