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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)
                                 March 14, 1997

                   AMRESCO Residential Securities Corporation
             (Exact name of registrant as specified in its charter)

           Delaware                 333-8687                     75-2620414
(State or Other Jurisdiction)     (Commission                 (I.R.S. Employer 
     of Incorporation)            File Number)               Identification No.)

   700 North Pearl Street
    Suite 1400, LB #342
       Dallas, Texas                                             75201-7424
  (Address of Principal                                          (Zip Code)
    Executive Offices)

        Registrant's telephone number, including area code (214) 953-7700

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

<PAGE>

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

(a)       Not applicable

(b)       Not applicable

(c)       Exhibits:

     8.1    Tax Opinion and Consent of Arter & Hadden

<PAGE>

                                   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 hereunto duly authorized.

                                        AMRESCO RESIDENTIAL SECURITIES
                                        CORPORATION, as Depositor

                                        By: /s/ Ronald B. Kirkland
                                        -------------------------------
                                        Name: Ronald B. Kirkland
                                        Title: Vice President and Chief
                                               Accounting Officer

Dated:  March 25, 1997

<PAGE>

                                  EXHIBIT INDEX

Exhibit No.    Description                                            Page No.

      8.1      Tax Opinion and Consent of Arter & Hadden
[{"type": "8-K", "sequence": "1", "description": "FORM 8-K", "secsgml_size_bytes": 2478}]
{"company-data": {"conformed-name": "AMRESCO RESIDENTIAL SECURITIES CORP", "cik": "0001003522", "assigned-sic": "6189", "irs-number": "752620414", "state-of-incorporation": "DE", "fiscal-year-end": "1231"}, "filing-values": {"form-type": "8-K", "act": "34", "file-number": "033-99346", "film-number": "97563181"}, "business-address": {"street1": "1845 WOODALL RODGERS FREEWAY", "city": "DALLAS", "state": "TX", "zip": "75201", "phone": "2149537700"}, "mail-address": {"street1": "700 N PEARL ST", "street2": "SUITE 2400 LB 342", "city": "DALLAS", "state": "TX", "zip": "75201"}}
--------------------------------------------------------------------------------

                       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)
                                 March 14, 1997

                   AMRESCO Residential Securities Corporation
             (Exact name of registrant as specified in its charter)

           Delaware                 333-8687                     75-2620414
(State or Other Jurisdiction)     (Commission                 (I.R.S. Employer 
     of Incorporation)            File Number)               Identification No.)

   700 North Pearl Street
    Suite 1400, LB #342
       Dallas, Texas                                             75201-7424
  (Address of Principal                                          (Zip Code)
    Executive Offices)

        Registrant's telephone number, including area code (214) 953-7700

                                    No Change
          (Former name or former address, if changed since last report)
Item 7.  Financial Statements, Pro Forma Financial Information and Exhibits.

(a)       Not applicable

(b)       Not applicable

(c)       Exhibits:

     8.1    Tax Opinion and Consent of Arter & Hadden
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 hereunto duly authorized.

                                        AMRESCO RESIDENTIAL SECURITIES
                                        CORPORATION, as Depositor

                                        By: /s/ Ronald B. Kirkland
                                        -------------------------------
                                        Name: Ronald B. Kirkland
                                        Title: Vice President and Chief
                                               Accounting Officer

Dated:  March 25, 1997
EXHIBIT INDEX

Exhibit No.    Description                                            Page No.

      8.1      Tax Opinion and Consent of Arter & Hadden