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


                       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 13, 2000


                      Residential Asset Funding Corporation
--------------------------------------------------------------------------------
             (Exact name of registrant as specified in its charter)


<TABLE>
<S>                                  <C>                   <C>
          North Carolina                  333-81721            56-2064715
----------------------------------    ------------------    -----------------
 (State or Other Jurisdiction of       (Commission File      (I.R.S. Employer
         Incorporation)                     Number)         Identification No.)
</TABLE>

<TABLE>
<S>                                                 <C>
    301 South College Street, DC-06
       Charlotte, North Carolina                       28202-6001
-----------------------------------------             -------------
 (Address of Principal Executive Offices)               (Zip Code)
</TABLE>

        Registrant's telephone number, including area code  (704) 374-4868
                                                           -----------------

                                    No Change
--------------------------------------------------------------------------------
          (Former name or former address, if changed since last report)




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


<PAGE>


     Item 2. Acquisition or Disposition of Assets

     Description of the Certificates and the Mortgage Loans

     Residential  Asset  Funding  Corporation  registered  issuances  of  up  to
$1,500,000,000  principal  amount of  Asset-Backed  Certificates on a delayed or
continuous  basis  pursuant  to Rule 415 under the  Securities  Act of 1933,  as
amended (the "Act"),  by the  Registration  Statement on Form S-3  (Registration
File No. 333-81721) (the "Registration Statement"). Pursuant to the Registration
Statement, C-BASS Mortgage Loan Asset-Backed Certificates,  Series 2000-CB4 (the
"Issuer") issued  $161,840,000 in aggregate principal amount of its Asset-Backed
Certificates,  Class A-1F,  Class A-2F,  Class A-1A, Class M-1, Class M-2, Class
B-1 and Class B-2 (the  "Certificates"),  on December  13,  2000.  This  Current
Report on Form 8-K is being  filed to satisfy an  undertaking  to file copies of
certain agreements executed in connection with the issuance of the Certificates.

     The Certificates were issued pursuant to a Pooling and Servicing  Agreement
(the "Agreement")  attached hereto as Exhibit 4.1, dated as of November 1, 2000,
among Residential Asset Funding Corporation, as depositor (the "Depositor"), The
Chase Manhattan Bank, as trustee (the  "Trustee"),  Litton Loan Servicing LP, as
servicer (the "Servicer"),  and Credit-Based  Asset Servicing and Securitization
LLC, as seller (the "Seller").  The Certificates  represent beneficial ownership
interests in a pool of mortgage loans and certain related property.

     As of December 1, 2000,  the Mortgage Loans  possessed the  characteristics
described  in  the  Prospectus  dated  September  9,  1999  and  the  Prospectus
Supplement dated December 7, 2000 filed pursuant to Rule 424(b)(5) of the Act on
December 14, 2000.


                                       1
<PAGE>


     Item 7. Financial Statements, Pro Forma Financial Information and Exhibits.

     (a)  Not applicable

     (b)  Not applicable

     (c)  Exhibit 1.1. Underwriting  Agreement,  dated December 7, 2000, between
          Residential Asset Funding Corporation and First Union Securities, Inc.

          Exhibit 4.1. Pooling and Servicing Agreement,  dated as of November 1,
          2000,  among  Residential  Asset  Funding  Corporation,  as Depositor,
          Litton Loan Servicing LP., as Servicer,  The Chase  Manhattan Bank, as
          Trustee,  and Credit-Based Asset Servicing and Securitization  LLC, as
          Seller.

          Exhibit 8.1.  Opinion of Dewey  Ballantine  LLP regarding tax matters,
          dated December 13, 2000.

          Exhibit 10.1. Mortgage Loan Purchase  Agreement,  dated as of November
          1, 2000, between  Credit-Based Asset Servicing and Securitization LLC,
          as Seller and Residential Asset Funding Corporation, as Purchaser.


                                       2
<PAGE>


                                   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 CORPORATION,
                                    as Depositor and on behalf of 2000-CB4 Trust

                                    Registrant

                                    By:   /s/  Eric Kaplan
                                          ------------------
                                    Name: Eric Kaplan
                                    Title: Vice President



Dated:  December 27, 2000



                                       3
<PAGE>


                                  EXHIBIT INDEX

<TABLE>
<CAPTION>
Exhibit No.          Description
------------         -----------
<S>                 <C>
Exhibit 1.1.         Underwriting Agreement, dated December 7, 2000, between Residential Asset Funding
                     Corporation and First Union Securities, Inc.

Exhibit 4.1.         Pooling and Servicing Agreement, dated as of November 1, 2000, among Residential
                     Asset Funding Corporation, as Depositor, Litton Loan Servicing LP., as Servicer,
                     The Chase Manhattan Bank, as Trustee, and Credit-Based Asset Servicing and
                     Securitization LLC, as Seller.

Exhibit 8.1.         Opinion of Dewey Ballantine LLP regarding tax matters, dated December 13, 2000.

Exhibit 10.1.        Mortgage Loan Purchase Agreement, dated as of November 1, 2000, between
                     Credit-Based Asset Servicing and  Securitization  LLC,
                     as Seller and Residential  Asset Funding  Corporation,
                     as Purchaser.
</TABLE>
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{"company-data": {"conformed-name": "RESIDENTIAL ASSET FUNDING CORP", "cik": "0001053158", "assigned-sic": "6189", "irs-number": "562064715", "state-of-incorporation": "NC", "fiscal-year-end": "1231"}, "filing-values": {"form-type": "8-K", "act": "34", "file-number": "333-64775", "film-number": "797495"}, "business-address": {"street1": "C/O FIRST UNION NATIONAL BANK", "street2": "230 SOUTH TRYON STREET 9TH FLOOR", "city": "CHARLOTTE", "state": "NC", "zip": "28288-1179", "phone": "7043744868"}, "mail-address": {"street1": "301 SOUTH COLLEGE ST DC-06", "city": "CHARLOTTE", "state": "NC", "zip": "28202-6001"}, "former-company": {"former-conformed-name": "HOME EQUITY SECURITIZATION CORP", "date-changed": "19980116"}}
--------------------------------------------------------------------------------

                       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 13, 2000

                      Residential Asset Funding Corporation
--------------------------------------------------------------------------------
             (Exact name of registrant as specified in its charter)
North Carolina                  333-81721            56-2064715
----------------------------------    ------------------    -----------------
 (State or Other Jurisdiction of       (Commission File      (I.R.S. Employer
         Incorporation)                     Number)         Identification No.)
301 South College Street, DC-06
       Charlotte, North Carolina                       28202-6001
-----------------------------------------             -------------
 (Address of Principal Executive Offices)               (Zip Code)
Registrant's telephone number, including area code  (704) 374-4868
                                                           -----------------

                                    No Change
--------------------------------------------------------------------------------
          (Former name or former address, if changed since last report)

--------------------------------------------------------------------------------
Item 2. Acquisition or Disposition of Assets

     Description of the Certificates and the Mortgage Loans

     Residential  Asset  Funding  Corporation  registered  issuances  of  up  to
$1,500,000,000  principal  amount of  Asset-Backed  Certificates on a delayed or
continuous  basis  pursuant  to Rule 415 under the  Securities  Act of 1933,  as
amended (the "Act"),  by the  Registration  Statement on Form S-3  (Registration
File No. 333-81721) (the "Registration Statement"). Pursuant to the Registration
Statement, C-BASS Mortgage Loan Asset-Backed Certificates,  Series 2000-CB4 (the
"Issuer") issued  $161,840,000 in aggregate principal amount of its Asset-Backed
Certificates,  Class A-1F,  Class A-2F,  Class A-1A, Class M-1, Class M-2, Class
B-1 and Class B-2 (the  "Certificates"),  on December  13,  2000.  This  Current
Report on Form 8-K is being  filed to satisfy an  undertaking  to file copies of
certain agreements executed in connection with the issuance of the Certificates.

     The Certificates were issued pursuant to a Pooling and Servicing  Agreement
(the "Agreement")  attached hereto as Exhibit 4.1, dated as of November 1, 2000,
among Residential Asset Funding Corporation, as depositor (the "Depositor"), The
Chase Manhattan Bank, as trustee (the  "Trustee"),  Litton Loan Servicing LP, as
servicer (the "Servicer"),  and Credit-Based  Asset Servicing and Securitization
LLC, as seller (the "Seller").  The Certificates  represent beneficial ownership
interests in a pool of mortgage loans and certain related property.

     As of December 1, 2000,  the Mortgage Loans  possessed the  characteristics
described  in  the  Prospectus  dated  September  9,  1999  and  the  Prospectus
Supplement dated December 7, 2000 filed pursuant to Rule 424(b)(5) of the Act on
December 14, 2000.

                                       1
Item 7. Financial Statements, Pro Forma Financial Information and Exhibits.

     (a)  Not applicable

     (b)  Not applicable

     (c)  Exhibit 1.1. Underwriting  Agreement,  dated December 7, 2000, between
          Residential Asset Funding Corporation and First Union Securities, Inc.

          Exhibit 4.1. Pooling and Servicing Agreement,  dated as of November 1,
          2000,  among  Residential  Asset  Funding  Corporation,  as Depositor,
          Litton Loan Servicing LP., as Servicer,  The Chase  Manhattan Bank, as
          Trustee,  and Credit-Based Asset Servicing and Securitization  LLC, as
          Seller.

          Exhibit 8.1.  Opinion of Dewey  Ballantine  LLP regarding tax matters,
          dated December 13, 2000.

          Exhibit 10.1. Mortgage Loan Purchase  Agreement,  dated as of November
          1, 2000, between  Credit-Based Asset Servicing and Securitization LLC,
          as Seller and Residential Asset Funding Corporation, as Purchaser.

                                       2
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 CORPORATION,
                                    as Depositor and on behalf of 2000-CB4 Trust

                                    Registrant

                                    By:   /s/  Eric Kaplan
                                          ------------------
                                    Name: Eric Kaplan
                                    Title: Vice President

Dated:  December 27, 2000

                                       3
EXHIBIT INDEX
Exhibit No.          Description
------------         -----------
Exhibit 1.1.         Underwriting Agreement, dated December 7, 2000, between Residential Asset Funding
                     Corporation and First Union Securities, Inc.

Exhibit 4.1.         Pooling and Servicing Agreement, dated as of November 1, 2000, among Residential
                     Asset Funding Corporation, as Depositor, Litton Loan Servicing LP., as Servicer,
                     The Chase Manhattan Bank, as Trustee, and Credit-Based Asset Servicing and
                     Securitization LLC, as Seller.

Exhibit 8.1.         Opinion of Dewey Ballantine LLP regarding tax matters, dated December 13, 2000.

Exhibit 10.1.        Mortgage Loan Purchase Agreement, dated as of November 1, 2000, between
                     Credit-Based Asset Servicing and  Securitization  LLC,
                     as Seller and Residential  Asset Funding  Corporation,
                     as Purchaser.