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) August 30, 2001

                   STRUCTURED ASSET MORTGAGE INVESTMENTS INC.
--------------------------------------------------------------------------------
             (Exact name of registrant as specified in its charter)

         Delaware                       333-56240               13-3633241
----------------------------           -----------          --------------------
(State or Other Jurisdiction           (Commission          (I.R.S. Employer
of Incorporation)                      File Number)         Identification No.)

245 Park Avenue
New York, New York                                             10167
---------------------                                       ----------
(Address of Principal                                       (Zip Code)
Executive Offices)

Registrant's telephone number, including area code, is (212) 272-2000

<PAGE>
                                      -2-


Item 5.  Other Events.

            On or about August 30, 2001, the Registrant will cause the issuance
      and sale of approximately $945,042,300 initial principal amount of E*TRADE
      Bank ARM Trust 2001-1, Mortgage Pass-Through Certificates, Series 2001-1
      (the "Certificates") pursuant to a Pooling and Servicing Agreement to be
      dated as of August 1, 2001, among the Registrant, as seller, EMC Mortgage
      Corporation, Bank One, National Association, as trustee, and Wells Fargo
      Bank Minnesota, National Association, as master servicer and as securities
      administrator.

            In connection with the sale of the Series 2001-1, Class A-1, Class
      A-2, Class A-3, Class R-I, Class R-II, Class R-III, Class B-1, Class B-2
      and Class B-3 Certificates (the "Underwritten Certificates"), the
      Registrant has been advised by Bear, Stearns & Co. Inc. (the
      "Underwriter"), that the Underwriter has furnished to prospective
      investors certain computational materials (the "Computational Materials")
      with respect to the Underwritten Certificates following the effective date
      of Registration Statement No. 333-56240, which Computational Materials are
      being filed as exhibits to this report.

            The Computational Materials have been provided by the Underwriter.
      The information in the Computational Materials is preliminary and may be
      superseded by the Prospectus Supplement relating to the Certificates and
      by any other information subsequently filed with the Securities and
      Exchange Commission.

            The Computational Materials were prepared by the Underwriter at the
      request of certain prospective investors, based on assumptions provided
      by, and satisfying the special requirements of, such prospective
      investors. The Computational Materials may be based on assumptions that
      differ from the assumptions set forth in the Prospectus Supplement. The
      Computational Materials may not include, and do not purport to include,
      information based on assumptions representing a complete set of possible
      scenarios. Accordingly, the Computational Materials may not be relevant to
      or appropriate for investors other than those specifically requesting
      them.

            In addition, the actual characteristics and performance of the
      mortgage loans underlying the Underwritten Certificates (the "Mortgage
      Loans") may differ from the assumptions used in the Computational
      Materials, which are hypothetical in nature and which were provided to
      certain investors only to give a general sense of how the yield, average
      life, duration, expected maturity, interest rate sensitivity and cash flow
      characteristics of the Underwritten Certificates might vary under varying
      prepayment and other scenarios. Any difference between such assumptions
      and the actual characteristics and performance of the Mortgage Loans will
      affect the actual yield, average life, duration, expected maturity,
      interest rate sensitivity and cash flow characteristics of the
      Underwritten Certificates.

<PAGE>
                                      -3-


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

      (a)   Financial Statements.

            Not applicable.

      (b)   Pro Forma Financial Information.

            Not applicable.

      (c)   Exhibits

            Not applicable.

<PAGE>
                                      -4-


         Pursuant to the requirements of the Securities Exchange Act of 1934,
the Registrant has duly caused this report to be signed on behalf of the
Registrant by the undersigned thereunto duly authorized.

                                           STRUCTURED ASSET MORTGAGE
                                           INVESTMENTS INC.


                                           By: /s/ Baron Silverstein
                                              ----------------------------------
                                           Name: Baron Silverstein
                                           Title: Vice President

Dated: August 29, 2001
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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) August 30, 2001

                   STRUCTURED ASSET MORTGAGE INVESTMENTS INC.
--------------------------------------------------------------------------------
             (Exact name of registrant as specified in its charter)

         Delaware                       333-56240               13-3633241
----------------------------           -----------          --------------------
(State or Other Jurisdiction           (Commission          (I.R.S. Employer
of Incorporation)                      File Number)         Identification No.)

245 Park Avenue
New York, New York                                             10167
---------------------                                       ----------
(Address of Principal                                       (Zip Code)
Executive Offices)

Registrant's telephone number, including area code, is (212) 272-2000
-2-

Item 5.  Other Events.

            On or about August 30, 2001, the Registrant will cause the issuance
      and sale of approximately $945,042,300 initial principal amount of E*TRADE
      Bank ARM Trust 2001-1, Mortgage Pass-Through Certificates, Series 2001-1
      (the "Certificates") pursuant to a Pooling and Servicing Agreement to be
      dated as of August 1, 2001, among the Registrant, as seller, EMC Mortgage
      Corporation, Bank One, National Association, as trustee, and Wells Fargo
      Bank Minnesota, National Association, as master servicer and as securities
      administrator.

            In connection with the sale of the Series 2001-1, Class A-1, Class
      A-2, Class A-3, Class R-I, Class R-II, Class R-III, Class B-1, Class B-2
      and Class B-3 Certificates (the "Underwritten Certificates"), the
      Registrant has been advised by Bear, Stearns & Co. Inc. (the
      "Underwriter"), that the Underwriter has furnished to prospective
      investors certain computational materials (the "Computational Materials")
      with respect to the Underwritten Certificates following the effective date
      of Registration Statement No. 333-56240, which Computational Materials are
      being filed as exhibits to this report.

            The Computational Materials have been provided by the Underwriter.
      The information in the Computational Materials is preliminary and may be
      superseded by the Prospectus Supplement relating to the Certificates and
      by any other information subsequently filed with the Securities and
      Exchange Commission.

            The Computational Materials were prepared by the Underwriter at the
      request of certain prospective investors, based on assumptions provided
      by, and satisfying the special requirements of, such prospective
      investors. The Computational Materials may be based on assumptions that
      differ from the assumptions set forth in the Prospectus Supplement. The
      Computational Materials may not include, and do not purport to include,
      information based on assumptions representing a complete set of possible
      scenarios. Accordingly, the Computational Materials may not be relevant to
      or appropriate for investors other than those specifically requesting
      them.

            In addition, the actual characteristics and performance of the
      mortgage loans underlying the Underwritten Certificates (the "Mortgage
      Loans") may differ from the assumptions used in the Computational
      Materials, which are hypothetical in nature and which were provided to
      certain investors only to give a general sense of how the yield, average
      life, duration, expected maturity, interest rate sensitivity and cash flow
      characteristics of the Underwritten Certificates might vary under varying
      prepayment and other scenarios. Any difference between such assumptions
      and the actual characteristics and performance of the Mortgage Loans will
      affect the actual yield, average life, duration, expected maturity,
      interest rate sensitivity and cash flow characteristics of the
      Underwritten Certificates.
-3-

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

      (a)   Financial Statements.

            Not applicable.

      (b)   Pro Forma Financial Information.

            Not applicable.

      (c)   Exhibits

            Not applicable.
-4-

         Pursuant to the requirements of the Securities Exchange Act of 1934,
the Registrant has duly caused this report to be signed on behalf of the
Registrant by the undersigned thereunto duly authorized.

                                           STRUCTURED ASSET MORTGAGE
                                           INVESTMENTS INC.

                                           By: /s/ Baron Silverstein
                                              ----------------------------------
                                           Name: Baron Silverstein
                                           Title: Vice President

Dated: August 29, 2001