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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: April 26, 1999
(Date of earliest event reported)
Residential Accredit Loans, Inc.
(Exact name of registrant as specified in its charter)
Delaware 333-72661 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
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Item 5Other Events.
On April 30, 1999, the Registrant will cause the issuance and sale
of approximately $296,006,356 initial principal amount of Mortgage
Asset-Backed Pass-Through Certificates, Series 1999-QS5, Class CB-1, Class
CB-P, Class NB-1 through Class NB-5, Class A-P, Class A-V, Class R, Class
M-1, Class M-2, Class M-3, Class B-1, Class B-2 and Class B-3 (the
"Certificates") pursuant to a Pooling and Servicing Agreement to be dated
as of April 1, 1999, among the Registrant, Residential Funding
Corporation, as Master Servicer, and Bankers Trust Company, as Trustee.
In connection with the expected sale of the Series 1999-QS5, Class
CB-1, Class CB-P, Class NB-1 through Class NB-5 and Class R Certificates,
other than a de minimis portion of the Class R Certificates, (the
"Underwritten Certificates") to Donaldson, Lufkin & Jenrette Securities
Corporation (the "Underwriter"), the Registrant has been advised by the
Underwriter that the Underwriter has furnished to prospective investors
certain yield tables and other computational materials (the "Computational
Materials") with respect to the Underwritten Certificates following the
effective date of Registration Statement No. 333- 72661, 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superseded by the Prospectus Supplement relating to the Certificates and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 first 12 pages (the
"Computational Materials") 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
mortgage loans underlying the Underwritten Certificates (the "Mortgage
Loans") may differ from the assumptions used in the Computational
Materials, which are hypothetical in nature and
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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 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 Certificates.
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
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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:
Name: Stephen Hynes
Title:Vice President
Dated: April 26, 1999
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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/Stephen Hynes
Name: Stephen Hynes
Title: Vice President
Dated: April 26, 1999
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EXHIBIT INDEX
Item 601 (a) of Sequentially
Exhibit Regulation S-K Numbered
Number Exhibit No. Description Page
1 99 Computational Materials Filed Manually
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EXHIBIT
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