Residential Accredit Loans, Inc.
Depositor
Residential Funding Corporation
Master Servicer
Mortgage Asset-Backed Pass-Through Certificates
Series 2000-QS4
$3,459,000 7.50% Class M-1 Certificates
$ 649,000 7.50% Class M-2 Certificates
$ 487,000 7.50% Class M-3 Certificates
Supplement dated April 10, 2000
to
prospectus supplement dated March 22, 2000
to
prospectus dated March 24, 1999
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PaineWebber Incorporated will offer to the public the Class M-1, Class
M-2 and Class M-3 Certificates, in negotiated transactions or otherwise,
directly or through dealers, at varying prices to be determined at the time of
sale. PaineWebber Incorporated's compensation will be the difference between the
price it pays to the depositor for the Class M-1, Class M-2 and Class M-3
Certificates and the amount it receives from the sale of the Class M-1, Class
M-2 and Class M-3 Certificates to the public. The proceeds to the depositor from
the sale of the Class M-1, Class M-2 and Class M-3 Certificates to PaineWebber
Incorporated will be approximately 97.05% of the principal balance of the Class
M-1, Class M-2 and Class M-3 Certificates plus accrued interest, before
deducting expenses.
The Class M-1, Class M-2 and Class M-3 Certificates will be offered
pursuant to an underwriting agreement among the depositor, the master servicer
and PaineWebber Incorporated. PaineWebber Incorporated may sell the Class M-1,
Class M-2 and Class M-3 Certificates directly or through dealers, who may
receive compensation from PaineWebber Incorporated in the form of discounts,
concessions or commissions. The underwriting agreement provides that the
depositor will indemnify PaineWebber Incorporated against certain civil
liabilities under the Securities Act of 1933, as amended, or contribute to
payments required to be made in respect thereof. There is currently no secondary
market for the Class M-1, Class M-2 and Class M-3 Certificates. There can be no
assurance that an active secondary market will develop, or if it does develop,
that it will continue.
This supplement may be used to offer or sell the certificates offered
hereby only if accompanied by the prospectus supplement and prospectus.
Dealers will be required to deliver a supplement, prospectus supplement
and prospectus when acting as underwriters of the certificates offered hereby
and with respect to their unsold allotments or subscriptions. In addition, all
dealers selling the Class M-1, Class M-2 and Class M-3 Certificates, whether or
not participating in this offering, may be required to deliver a supplement,
prospectus supplement and prospectus until July 10, 2000.
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PAINEWEBBER INCORPORATED
April 10, 2000
