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) April 25, 1997
Financial Asset Securitization, Inc.
(Exact name of registrant as specified in charter)
Virginia 0-15483 53-1526174
(State or other jurisdiction (Commission (IRS Employer
of incorporation) File Number) Identification No.)
901 East Byrd Street, Richmond, Virginia 23219
(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code (804) 344-7575
-----------------------------------------------------------------
(Former Name or Former Address if Changed Since Last Report)
Item 5. Other Events.
The Registrant expects to enter into an underwriting agreement, dated
April 25, 1997, with Donaldson, Lufkin & Jenrette Securities Corporation (the
"Underwriter"), pursuant to which the Underwriter agrees to purchase and offer
for sale to the public, approximately $173,847,073 aggregate initial principal
amount of the Registrant's Mortgage Participation Securities, Series 1997-NAMC
1, Class FXA-1, Class FXA-2, Class FXA-3, Class FXA-4, Class FXA-5, Class FXA-6,
Class FXA-7, Class FXA-8, Class FXA-9, Class FXS, Class FXP, Class A-1, Class
A-2, Class A-3, Class A-4, Class S, Class P, Class B-1, Class B-2, Class B-3,
Class R and Class RP (the "Offered Securities"). The Offered Securities are
registered for sale under the Registrant's effective shelf Registration
Statement on Form S-3 (33-78368), and will be offered pursuant to a Prospectus,
dated April 25, 1997, and a related Prospectus Supplement, dated April 25, 1997,
to be filed with the Securities and Exchange Commission pursuant to the
Securities Act of 1933, as amended, and Rule 424 thereunder.
In connection with the offering of the Offered Securities, the
Underwriter has prepared and disseminated to potential purchasers certain
"Computational Materials" and/or "Structural Terms Sheet(s)," as such terms are
defined in the No-Action response letters to Kidder, Peabody and Co.
Incorporated and certain affiliates thereof (publicly available, May 20, 1994)
and the No- Action response letter to Cleary, Gottlieb, Steen & Hamilton on
behalf of the Public Securities Association (publicly available, February 17,
1995), respectively. In accordance with such No- Action Letter, the Registrant
is filing herewith such Computational Materials and/or Structural Terms Sheet(s)
as Exhibit 99.1.
Exhibits
99.1 Copy of "Computational Materials" and/or "Structural Terms Sheet(s)" as
provided by Donaldson, Lufkin & Jenrette Securities Corporation.
-2-
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.
April 25, 1997 FINANCIAL ASSET SECURITIZATION, INC.
By: /s/ William E. Hardy
--------------------
Name: William E. Hardy
Title: Executive Vice President
-3-
INDEX TO EXHIBITS
Page
99.1 Copy of "Computational Materials"
and/or "Structural Terms Sheet(s)"
as provided by Donaldson, Lufkin & Jenrette
Securities Corporation.......................................
-4-