SECURITIES AND EXCHANGE COMMISSION
                             WASHINGTON, D.C. 20549

                                   FORM 10-K/A
                                 Amendment No. 1


(Mark One)

| x |   ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934 

For the period from February 28, 1995(INCEPTION) to February 28, 1996

|   |   TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934 

Commission File No.:  0-15483/33-75416

                 Ryland Mortgage Securities Corproation, Mortgage
                    Participation Securities, Series 1995-1
             (Exact name of registrant as specified in its charter)

New York (governing law of pooling and servicing agreement)
State or other jurisdiction of incorporation or organization)

52-6737487
(I.R.S. Employer Identification No.)

c/o Norwest Bank Minnesota, N.A.
11000 Broken Land Parkway
Columbia, MD                                     21044
(Address of principal executive                 (Zip Code)
offices)

Registrant's telephone number, including area code (410) 884-2000

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



This Amendment No. 1 on Form 10-K/A amends Item 14 of the original Annual Report
on Form 10-K (the  "Original Form 10-K") filed on April 1, 1996, by Norwest Bank
Minnesota,   N.A.  (the  "Reporting  Person"),  on  behalf  of  Ryland  Mortgage
Securities Corporation,  Mortgage Participation  Securities, Series 1995-1, (the
"Trust"),  established  pursuant to the Trust Agreement (the "Trust  Agreement")
among Ryland Mortgage Securities Corporation, as Seller, (the "Seller"), Norwest
Bank Minnesota, N.A., as   Securities    Administrator,    (   the   "Securities
Administrator"), as successor to Ryland Mortgage   Company,  and  Texas Commerce
Bank National Association,  as Trustee (the "Trustee")  pursuant to which Ryland
Mortgage Securities  Corporation,  Mortgage Participation  Securities,    Series
1995-1, the certificates  registered  under  the   Securities Act  of  1933 (the
"Certificates") were issued. Item 14 of the Original Form  10-K  is  amended  to
read in its entirety as follows:

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

     (a)  Exhibits

          99.1 Annual Report of  Independent  Public  Accountants'  as to master
               servicing activities or servicing activities as applicable:

               (a) No  Exhibit will be attached as the holdings of the Trust are
                   restricted  to  securities  only.  The   Annual   Report   of
                   Independent  Public   Accountants, and   Management Assertion
                   Letter are inapplicable as a result.
          
                   
          99.2 Management Assertion Letter:

               (a) No  Exhibit will be attached as the holdings of the Trust are
                   restricted  to  securities  only.  The   Annual   Report   of
                   Independent  Public   Accountants, and   Management Assertion
                   Letter are inapplicable as a result.
                   

          99.3 Annual  Statements  of  Compliance  with  obligations  under  the
               Pooling Agreement or servicing agreement, as applicable,  of: 

               (a) The Annual Statement of Compliance   is  not  applicable  for
                   1995.
                   
     (b)  Omitted.

     (c)  Omitted.

     (d)  Omitted.
         




                                    SIGNATURE

     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:

     
             Ryland Mortgage Securities Corporation, Series 1995-1,
                        Mortage Participation Securities


                       By: Norwest Bank Minnesota, N.A., (as successor to 
                           Ryland Mortgage Securities Corporation),
                           as Securities Administrator

                       By: /s/ Sherri J. Sharps
                       By: Sherri J. Sharps
                    Title: Vice President
                    Dated: October 1, 1997