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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 (Date of earliest event reported) December 3, 1998
Residential Asset Funding Corp.
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(Exact name of registrant as specified in its charter)
North Carolina 333-44409 56-2064715
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(State or Other Jurisdiction of (Commission File (I.R.S. Employer
Incorporation) Number) Identification No.)
301 South College Street
Charlotte, North Carolina 28202-6001
(Address of Principal Executive ----------
Offices) (Zip Code)
Registrant's telephone number, including area code (704) 374-4868
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Formerly Home Equity Securitization Corp.
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(Former name or former address, if changed since last report)
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Item 5. Other Events
Residential Asset Funding Corp., formerly Home Equity
Securitization Corp., has previously registered the offer and
sale of its First Greensboro Home Equity Asset-Backed Notes,
Series 1998-1 (the "Notes").
The following exhibit which relates specifically to the Notes
is included with this Current Report:
Item 7(c). Exhibits
10.1 Monthly Payment Date Statement distributed to
Noteholders, dated November 25, 1998.
SIGNATURES
Pursuant to the requirements of Section 13 or 15(d) 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.
RESIDENTIAL ASSET FUNDING CORP.
as Depositor and on behalf of First Greensboro
Home Equity Loan Trust 1998-1
Registrant
By: /s/ Wallace Saunders
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Name: Wallace Saunders
Title: Assistant Vice President
Dated: December 2, 1998
EXHIBIT INDEX
Exhibit No. Description
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Exhibit 10.1. Monthly Payment Date Statement distributed to
Noteholders, dated November 25, 1998