RESIDENTIAL ACCREDIT LOANS INC - 10-K Annual Report

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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D. C. 20549

FORM 10-K

Annual Report Pursuant to Section 13 or 15 (d) of the
Securities Exchange Act of 1934
For the fiscal year ended December 31, 1999

Commission File Numbers 33-95932; 33-38733;
333-33493; 333-48327; 333-63549; and 333-72661

RESIDENTIAL ACCREDIT LOANS, INC.

State of Incorporation: Delaware
I.R.S. Employer Identification Number: 51-0362653

8400 Normandale Lake Blvd, Suite 600
Minneapolis, Minnesota 55437
Telephone (612) 832-7000

Securities registered pursuant to Section 12(b) of the Act: None
Securities registered pursuant to Section 12(g) of the Act: None.

Indicate by check mark whether the Registrant (1) has filed all reports
required to be filed by Section 13 or 15 (d) of the Securities Exchange Act of
1934 during the preceding 12 months (or for such shorter period that the
Registrant was required to file such reports) and (2) has been subject to such
filing requirements for the past 90 days. Yes X No ____.

RESIDENTIAL ACCREDIT LOANS, INC.

TABLE OF CONTENTS

Page #
PART I

Item 1. Business 2
Item 2. Properties 2
Item 3. Legal Proceedings 2
Item 4. Submission of Matters to a Vote of Security Holders 2

PART II

Item 5. Market for the Registrant's Common Equity and
Related Stockholder Matters 2
Item 6. Selected Financial Data 2
Item 7. Management's Discussion & Analysis of Financial
Condition and Results of Operations 2
Item 8. Financial Statements & Supplementary Financial
Data 3
Item 9. Changes in and Disagreements with Accountants
on Accounting & Financial Disclosure 3

PART III

Item 10. Directors and Executive Officers of the
Registrant 3
Item 11. Executive Compensation 3
Item 12. Security Ownership of Certain Beneficial
Owners and Management 3
Item 13. Certain Relationships and Related Transactions 3

PART IV

Item 14. Exhibits, Financial Statement Schedules and
Reports on Form 8-K 4
SIGNATURES 5
EXHIBITS 6

-1-

PART I

Item 1. Business

Information not provided pursuant to Exemptive Order.

Item 2. Properties

Pursuant to the Exemptive Order the Master Servicer's Annual Statement
as to Compliance, dated March 30, 2000 are filed as Exhibit 1 under Item
14(a) hereof.

Item 3. Legal Proceedings

There are no material pending legal proceedings related to any series of
Certificates that involve the Trustee, Custodian, the Master Servicer or
the Registrant with respect to any such series.

Item 4. Submission of Matters to a Vote of Security Holders

Information not provided pursuant to Exemptive Order.

PART II

Item 5. Market for the Registrant's Common Equity and Related Matters

(a) There is no established public trading market for the Certificates.

(b) At December 31, 1999, the number of holders of record of each
outstanding series of Certificates is listed in Exhibit 3 under
Item 14(a) hereof.

(c)Not applicable.

Item 6. Selected Financial Data

Information not provided pursuant to Exemptive Order.

Item 7. Management's Discussion & Analysis of Financial Condition and
Results of Operations

-2-

Information not provided pursuant to Exemptive Order.

Item 8. Financial Statements & Supplementary Financial Data

See the Master Servicer's Annual Statement of Compliance that is filed
as Exhibit 1 under Item 14(a) hereof; see also report dated March 20,
2000 prepared by the Master Servicer's independent accountant,
concerning the Master Servicer's servicing activities that is filed as
Exhibit 2 under Item 14(a) hereof.

Item 9. Disagreements on Accounting and Financial Disclosure

Not Applicable.

PART III

Item 10. Directors and Executive Officers of the Registrant

Information not provided pursuant to Exemptive Order.

Item 11. Executive Compensation

Information not provided pursuant to Exemptive Order.

Item 12. Security Ownership of Certain Beneficial Owners and Management

(a) Each holder of record of more than five percent (5%) of the
fractional undivided interest in a Mortgage Pool evidenced by a
series of Certificates, outstanding at December 31, 1999 is
listed in Exhibit 4 under Item 14(a) hereof.

(b) Not applicable

(c) Not applicable.

Item 13. Certain Relationships and Related Transactions

Information not provided pursuant to Exemptive Order.

-3-

PART IV

Item 14. Exhibits, Financial Statement Schedules and Reports on Form 8-K

(a) EXHIBIT #

Officers' Annual Compliance Statements: 1
Residential Funding Corporation

Residential Funding Corporation Independent Auditors' Report on the
Uniform Single Audit Program for Mortgage Bankers 2

Part II, Item 5(b) 3

Part III, Item 12(a) 4

Audited financial statements for the year ended December 31, 1999 for
Ambac Financial Group, Inc.*

Audited financial statements for the year ended December 31, 1999 for
Municipal Bond Investors Assurance Corporation **

(b) See Item 2.

(c) Not applicable.

(d) Not applicable. No annual report or proxy material has
been sent to security holders.

- ----------------------

* Incorporated by reference to the audited financial statements of Ambac
Financial Group, Inc. Filed with the Securities and Exchange Commission on March
30, 2000 as part of its Annual Report on Form 10-K (Commission File #1-10777)
for the twelve-month period ended December 31, 1999.

** Incorporated by reference to the audited financial statements of Municipal
Bond Investors Assurance Corporation, Inc. Filed with the Securities and
Exchange Commission on March 29, 2000 as part of its Annual Report on Form 10-K
(Commission File #1-9583) for the twelve- month period ended December 31, 1999.

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, thereto duly authorized, on this 30th day
of March, 2000.

RESIDENTIAL ACCREDIT LOANS, INC.

By: / s/ Christopher J. Nordeen
Christopher J. Nordeen
President

Pursuant to the requirements of the Securities Exchange Act of 1934, this
report has been executed below by the following persons on behalf of the
Registrant and in the capacities and on the dates indicated.

/s/ Christopher J. Nordeen
Christopher J. Nordeen
President
March 30, 2000

/s/ David C. Walker
David C. Walder
Assistant Treasurer
March 30, 2000

/s/ Davee L. Olson
Davee L. Olson
Chief Financial Officer
March 30,2000