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

                       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, 1996


                   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 2400, 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 5.  Other Events.

                  In  connection  with  the  offering  of  AMRESCO   Residential
Securities Corporation Mortgage Loan Pass-Through  Certificates,  Series 1996-5,
described  in a  Prospectus  Supplement  dated as of December  4, 1996,  certain
"Computational Materials" within the meaning of the May 20, 1994 Kidder, Peabody
No-Action  Letter  and the  February  17,  1995  Public  Securities  Association
No-Action Letter were furnished to certain prospective investors.

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

(a)               Not applicable

(b)               Not applicable

(c)               Exhibits:

     99.1      Computational  Materials of Morgan Stanley & Co.  relating to the
               Offered Certificates.

<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:  December 4, 1996
<PAGE>
                                  EXHIBIT INDEX


Exhibit No.       Description                                           Page No.

   99.1           Computational Materials of Morgan Stanley & Co.
                  relating to the Offered Certificates.
                                                                        _______
[{"type": "8-K", "sequence": "1", "description": "FORM 8-K", "secsgml_size_bytes": 3602}]
{"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": "96677048"}, "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)
                                December 3, 1996

                   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 2400, 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 5.  Other Events.

                  In  connection  with  the  offering  of  AMRESCO   Residential
Securities Corporation Mortgage Loan Pass-Through  Certificates,  Series 1996-5,
described  in a  Prospectus  Supplement  dated as of December  4, 1996,  certain
"Computational Materials" within the meaning of the May 20, 1994 Kidder, Peabody
No-Action  Letter  and the  February  17,  1995  Public  Securities  Association
No-Action Letter were furnished to certain prospective investors.

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

(a)               Not applicable

(b)               Not applicable

(c)               Exhibits:

     99.1      Computational  Materials of Morgan Stanley & Co.  relating to the
               Offered Certificates.
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:  December 4, 1996
EXHIBIT INDEX

Exhibit No.       Description                                           Page No.

   99.1           Computational Materials of Morgan Stanley & Co.
                  relating to the Offered Certificates.
                                                                        _______