<PAGE>
    
                                   FORM 10-Q


                       SECURITIES AND EXCHANGE COMMISSION


                            Washington, D.C.  20549


          [X] QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE
                        SECURITIES EXCHANGE ACT OF 1934


For the quarterly period ended            June 30, 1997
                               --------------------------------------------

                                       OR

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

For the transition period from                    to
                               -------------------  ----------------------

Commission file number                0-11623
                       ---------------------------------------------------


                    RYAN MORTGAGE ACCEPTANCE CORPORATION IV
--------------------------------------------------------------------------
            (Exact name of registrant as specified in its charter)

               Delaware                          25-1460059             
   -------------------------------    ---------------------------------
   (State or other jurisdiction of    (IRS Employer Identification No.)
    incorporation or organization)

                     100 Ryan Court  Pittsburgh, PA  15205
  --------------------------------------------------------------------------
                   (Address of principal executive offices)
                                  (Zip Code)

                                (412) 276-4225
  --------------------------------------------------------------------------
             (Registrant's telephone number, including area code)

          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      
   -----   -----
 

          Number of shares of common stock, $1 par value, outstanding as of
August 14, 1997:  1,000

          The Registrant meets the conditions set forth in General Instruction
H(1)(a) and (b) of Form 10-Q and is filing this Form with the reduced disclosure
permitted thereby.
<PAGE>
 
                                   FORM 10-Q

                    RYAN MORTGAGE ACCEPTANCE CORPORATION  IV


                                   I N D E X
                                   _________

<TABLE>
<CAPTION>


                                                                 Pages
                                                                 -----
<S>                                                              <C>
PART I.  FINANCIAL INFORMATION
  Item 1 - Financial Statements
 
           Balance Sheets, June 30, 1997
            and December 31, 1996                                    3
 
           Statements of Operations for the
            three months ended June 30, 1997 and 1996                4
 
           Statements of Operations for the
            six months ended June 30, 1997 and 1996                  5
 
           Statements of Cash Flows for the
            six months ended June 30, 1997 and 1996                  6
 
           Notes to Financial Statements                          7-11
 
  Item 2 - Management's Discussion and Analysis of Financial
            Condition and Results of Operations                  12-13
 
PART II. OTHER INFORMATION
  Item 1 - Legal Proceedings                                        14
 
  Item 2 - Changes in Securities                                    14
 
  Item 3 - Defaults Upon Senior Securities                          14
 
  Item 4 - Submission of Matters to a Vote of
            Security Holders                                        14
  
  Item 5 - Other Information                                        14
 
  Item 6 - Exhibits and Reports on Form 8-K                      14-26
 
SIGNATURES                                                          27

</TABLE>


                                       2
<PAGE>
 
                                    PART I

                                   FORM 10-Q

Item 1.  Financial Statements.
         -------------------- 

                    RYAN MORTGAGE ACCEPTANCE CORPORATION IV

                                 BALANCE SHEETS

                         (Dollar amounts in thousands)
                                  ________
<TABLE>
<CAPTION>
 
 
                                                June 30,  December 31,
                                                  1997        1996
                                              ----------- -------------
          ASSETS                              (Unaudited)
<S>                                           <C>         <C>
 
Cash                                             $     2       $     2
 
Funds held by Trustee (Note 3)                       904           557
 
Receivables on mortgage-backed securities
  (Note 2)                                           471           547
 
Receivables from affiliates                          200           344
 
Investments in mortgage-backed securities
  available-for-sale (amortized cost of
  $23,100 and $38,791, net of discount of
  $68 and $54)                                    24,112        40,101
 
Deferred bond issue costs                            196           638
 
Other assets                                           7             9
                                                 -------       -------
 
                                                 $25,892       $42,198
                                                 =======       -------
 
     LIABILITIES AND SHAREHOLDER'S EQUITY
 
Liabilities:
     Long-term debt (Note 3)                     $23,226       $38,464
     Accrued interest payable                        545           682
     Deferred income taxes                           354           459
     Other liabilities                               127           141
                                                 -------       -------
 
                                                  24,252        39,746
                                                 -------       -------
Contingent liabilities (Note 3)
 
Shareholder's equity:
     Common stock, $1.00 par value: 50,000
      shares authorized, 1,000 shares issued
     and outstanding                                   1             1
     Additional paid-in capital                      889         1,515
     Retained earnings (including
     unrealized gain on securities
     available-for-sale of $658 and $851,
     net of income taxes)                            750           936
                                                 -------       -------
 
                                                   1,640         2,452
                                                 -------       -------
 
                                                 $25,892       $42,198
                                                 =======       =======
 
</TABLE>



                             See Notes - Pages 7-11
                                       3
<PAGE>
 
                                    PART I

                                   FORM 10-Q

Item 1.  Financial Statements, continued.
         ---------------------           

                    RYAN MORTGAGE ACCEPTANCE CORPORATION IV

                            STATEMENTS OF OPERATIONS

                         (Dollar amounts in thousands)

                                    -------
<TABLE>
<CAPTION>
 
                                                     Three Months Ended
                                                          June 30,
                                                  -----------   ----------
                                                     1997         1996    
                                                  -----------   ----------
                                                  (Unaudited)  (Unaudited)
<S>                                               <C>          <C>
 
Revenues:
         Interest income                               $ 593       $1,898
 
         Adjustment/accretion of net discount
          on mortgage-backed securities                    2          (17)
 
         Bond administration fee                           3            6
 
         Gain on sale of mortgage-backed
          securities                                     353          604
 
         Income maintenance allowance
          to parent (Note 4)                             (77)        (216)
                                                       -----       ------
 
                                                         874        2,275
                                                       -----       ------
 
Expenses:
         Interest expense                                537        1,767
 
         Adjustment/amortization of deferred
          bond issue costs                                10          111
 
         Adjustment/amortization of bond
          discounts                                       22          106
 
         Interest on advances to
          affiliates                                      (2)          (8)
 
         Other financial and administrative               15           54
                                                       -----       ------
 
                                                         582        2,030
                                                       -----       ------
 
              Income before income taxes
               and extraordinary item                    292          245
 
Income tax provision                                     102           95
                                                       -----       ------
 
              Income before extraordinary item           190          150
 
Extraordinary item:
         Loss on retirement of bonds
         net of income tax effect of $102 and            187          143
                                                       -----       ------
         $95
 
Net Income                                             $   3       $    7
                                                       =====       ======
</TABLE>
                             See Notes - Pages 7-11
                                       4
<PAGE>
 
                                    PART I

                                   FORM 10-Q

Item 1.  Financial Statements, continued.
         ---------------------           

                    RYAN MORTGAGE ACCEPTANCE CORPORATION IV

                            STATEMENTS OF OPERATIONS

                         (Dollar amounts in thousands)

                                    -------

<TABLE>
<CAPTION>
 
                                                      Six Months Ended
                                                          June 30,
                                                  ------------------------
                                                     1997         1996    
                                                  -----------  -----------
                                                  (Unaudited)  (Unaudited)
<S>                                               <C>          <C>
 
Revenues:
         Interest income                              $1,344       $4,079
 
         Adjustment/accretion of net premium
          on mortgage-backed securities                    3          (34)
 
         Bond administration fee                           7           12
 
         Gain on sale of mortgage-backed
          securities                                     590          604
 
         Income maintenance allowance from
          (to) parent (Note 4)                           (32)         (18)
                                                      ------       ------
 
                                                       1,912        4,643
                                                      ------       ------
 
Expenses:
         Interest expense                              1,247        3,929
 
         Adjustment/amortization of deferred
          bond issue costs                                24          189
 
         Adjustment/amortization of bond
          discounts                                       44          181
 
         Interest on advances to affiliates               (3)         (11)
 
         Other financial and administrative               41          104
                                                      ------       ------
 
                                                       1,353        4,392
                                                      ------       ------
 
              Income before income taxes
               and extraordinary item                    559          251
 
Income tax provision                                     194           95
                                                      ------       ------
 
              Income before extraordinary item           365          156
 
Extraordinary item:
         Loss on retirement of bonds
         net of income tax effect of
         $194 and $95                                    358          143
                                                      ------       ------
 
Net Income                                            $    7       $   13
                                                      ======       ======
</TABLE>
                             See Notes - Pages 7-11
                                       5
<PAGE>
 
                                    PART I

                                   FORM 10-Q

Item 1.  Financial Statements, continued.
         ---------------------           

                    RYAN MORTGAGE ACCEPTANCE CORPORATION IV

                            STATEMENTS OF CASH FLOWS

                         (Dollar amounts in thousands)
                                   
                                   --------

<TABLE>
<CAPTION>
                                                             Six Months Ended
                                                                  June 30,
                                                      -------------------------------
                                                            1997            1996    
                                                      -----------------  ------------
                                                         (Unaudited)     (Unaudited)
<S>                                                   <C>                <C>
Operating Activities:
  Net Income                                                  $      7     $     13
  Adjustments to reconcile net income to net
   cash provided by operating activities:
   Gain on sale of mortgage-backed securities                     (590)        (604)
   Loss on retirement of bonds                                     552          238
    Adjustment/accretion of net premium on
     mortgage-backed securities                                     (3)          34
    Adjustment/amortization of deferred bond
         issue costs                                                24          189
    Adjustment/amortization of bond discounts                       44          181
    Change in interest receivable on mortgage-
     backed securities                                             106          212
    Interest accrued and added to bond principal                     -          395
    Change in other assets                                           2           15
    Change in accrued interest payable                            (137)          55
    Change in accrued liabilities                                  (14)          (4)
                                                              --------     --------
         Net cash provided by Operating Activities                  (9)         724
                                                              --------     --------
 
Investing Activities:
  Increase in funds held by Trustee                               (347)      (1,374)
  Principal payments on mortgage-backed
    securities                                                   1,895       11,530
  Proceeds on sale of mortgage-backed securities                14,359       17,814
                                                              --------     --------
     Net cash provided by Investing Activities                  15,907       27,970
                                                              --------     --------
 
Financing Activities:
  Redemption of bonds                                          (15,416)     (27,562)
  Net changes in receivables from affiliates                       144          (52)
  Return of capital to parent                                     (626)      (1,080)
                                                              --------     --------
    Net cash used by Financing Activities                      (15,898)     (28,694)
                                                              --------     --------
 
 
         Increase in cash                                            -            -
         Cash at beginning of period                                 2            2
                                                              --------     --------
         Cash at end of period                                $      2     $      2
                                                              ========     ========
 
Supplemental disclosure of Cash Flow
  Information:
 
                  Interest paid                               $  1,384     $  1,368
                                                              ========     ========
 
Supplemental disclosure of non cash flow
  financing activities:
 
              Change in unrealized gain on
                    available for sale securities                 (298)       1,534
                                                              ========     ========
</TABLE>

                             See Notes - Pages 7-11
                                       6
<PAGE>
 
                                    PART I

                                   FORM 10-Q

Item 1.  Financial Statements, continued.
         ---------------------           

                    RYAN MORTGAGE ACCEPTANCE CORPORATION IV

                         NOTES TO FINANCIAL STATEMENTS

                                 June 30, 1997

                         (Dollar amounts in thousands)

                                   --------

1.   In the opinion of management, the unaudited financial statements included
     in this Form 10-Q include all adjustments which management considers
     necessary for a fair presentation of the results of the interim periods
     presented.  This Form 10-Q should be read in conjunction with the Ryan
     Mortgage Acceptance Corporation IV (the "Company") Annual Report on Form
     10-K for the year ended December 31, 1996.

2.   Receivables on mortgage-backed securities represent amounts due for
     scheduled and unscheduled principal and interest payments for the months of
     June 1997 and December 1996, respectively.

3.   Long-term debt at June 30, 1997 consists of the following series of
     Mortgage-Collateralized Bonds:

<TABLE>
<CAPTION>
 
     Series      Class      Rate %     Principal Amount    Stated Maturity
     ------      -----      ------     ----------------    ---------------
<S>             <C>         <C>        <C>                 <C>
        7         7-Z        9.40           1,656          August 1, 2016
 
        8         8-Z        9.00           11,118         September 1, 2016
 
       10        10-Z       9.450            4,048         October 1, 2016

       11        11-Z       9.000           12,677         October 1, 2016
                                          --------
                                          $ 29,499

                 Less: Bonds pertaining
                     to the sale to RMI
                     as described on the
                     following page         (5,704)

                 Less: Discounts              (569)
                                          -------- 

                                          $ 23,226
                                          ========
</TABLE>
 


                                       7
<PAGE>
 
                                    PART I

                                   FORM 10-Q

Item 1.  Financial Statements, continued.
         ---------------------           

                    RYAN MORTGAGE ACCEPTANCE CORPORATION IV

                    NOTES TO FINANCIAL STATEMENTS, Continued

                         (Dollar amounts in thousands)

                                   --------
3.   continued:

On September 23, 1988, the Company sold the GNMA Certificates, FNMA Certificates
and other collateral owned by the Company and pledged to secure the Company's
GNMA/FNMA Collateralized Bonds, Series 1 and 2, and its Mortgage-Collateralized
Bonds, Series 3, 4, 7, 10, 19 and 21 through 31, to RYMAC Mortgage Investment I,
Inc. ("RMI"), a wholly owned subsidiary of RYMAC Mortgage Investment
Corporation.  Such collateral was sold to RMI subject to the lien of the
Indenture dated as of May 1, 1984, as amended and supplemented (the
"Indenture"), between the Company and The Bank of New York, as Trustee, pursuant
to which such Bonds were issued, and subject to the rights of the Trustee and
the Bondholders thereunder.  RMI subsequently sold to INVG Government Securities
Corp., succeeded in interest by INVG Mortgage Securities Corp. ("INVG"), subject
to such liens and rights, the collateral securing the Company's Mortgage-
Collateralized Bonds, Series 3 and 4.  In addition, RMI subsequently sold to
Sperlinga Capital Inc. ("Sperlinga"), subject to such liens and rights, the
collateral securing the Company's  Mortgage-Collateralized Bonds, Series 7, 10
and 19.  In accordance with FASB Technical Bulletin 85-2, "Accounting for
Collateralized Mortgage Obligations", the assets, liabilities, interest income
and interest expense relating to such Bonds are not shown on the balance sheet
or the statement of operations of the Company.  During the first quarter of
1992, the Company redeemed, at RMI's request, its Mortgage-Collateralized Bonds,
Series 21 through 31, on February 10, 1993, the Company redeemed, at RMI's
request, its Mortgage-Collateralized Bonds, Series 1, on October 20, 1993, the
Company redeemed, at RMI's request, its Mortgage-Collateralized Bonds, Series 2,
on June 3, 1996, the Company redeemed, at INVG's request, its Mortgage-
Collateralized Bonds, Series 3, on July 1, 1996, the Company redeemed, at INVG's
request, its Mortgage-Collateralized Bonds, Series 4, and on May 1, 1997, the
Company redeemed, at Sperlinga's request, its Mortgage-Collateralized Bonds,
Series 19.

Pursuant to the Indenture, interest is payable quarterly on the Bonds.  If a
series of Bonds includes a "Z" class, interest on the Bonds of such class will
accrue (and be added to the principal of the Bonds of such class) and will not
be payable until all Bonds of such series having an earlier stated maturity have
been fully paid.  However, with respect to each series of Bonds currently
outstanding which includes a "Z" class, there are no other classes outstanding.
Subject to the priorities among classes set forth below, the Company is
obligated periodically through the application of payments on the underlying
collateral and, to the extent funds are available, to make pro rata principal
payments on the Bonds.

No payment of principal may be made on any Bond of any class of any series until
each class of Bonds of such series having an earlier stated maturity has been
fully paid.



                                   Continued
                                       8
<PAGE>
 
                                    PART I

                                   FORM 10-Q

Item 1.  Financial Statements, continued.
         ---------------------           

                    RYAN MORTGAGE ACCEPTANCE CORPORATION IV

                    NOTES TO FINANCIAL STATEMENTS, Continued

                         (Dollar amounts in thousands)

                                   --------
3.   continued:

The following table sets forth the classes or series of Bonds which are subject
to redemption, in whole or in part, at the option of the Company and the first
date on which the Company has the right to exercise its right to redeem such
Bonds.  Mortgage-backed securities are classified as available-for-sale and
accordingly, are carried at their fair value.  Unrealized net holding gains and
losses for the mortgage-backed securities are reported net of income taxes in a
separate component of retained earnings until realized.  In the case of series
of Bonds with respect to which the Company has sold the underlying collateral
subject to the lien of the Indenture, the Company has agreed to exercise such
right only upon the request of the purchaser.

<TABLE>
<CAPTION>
 
Class or Series           Date
------------------  -----------------
<S>                 <C>
Class 7-Z Bonds     August 1, 2001
Class 8-Z Bonds     September 1, 1998
Class 10-Z Bonds    October 1, 2001
Class 11-Z Bonds    October 1, 2001
 
</TABLE>



                                   Continued
                                       9
<PAGE>
 
                                    PART I

                                   FORM 10-Q

Item 1.  Financial Statements, continued.
         ---------------------           

                    RYAN MORTGAGE ACCEPTANCE CORPORATION IV

                    NOTES TO FINANCIAL STATEMENTS, Continued

                         (Dollar amounts in thousands)

                                   --------
3.   continued:

Pursuant to the terms of the Indenture, the Company redeemed its GNMA-
Collateralized Bonds, Series 32 and 33, on April 1, 1993, its GNMA-
Collateralized Bonds, Series 5, on June 19, 1996, its GNMA-Collateralized Bonds,
Series 6, on August 1, 1996, its FNMA-Collateralized Bonds, Series 9 and 12, on
November 1, 1996, its GNMA-Collateralized Bonds, Series 13, on November 1, 1996,
its FNMA-Collateralized Bonds, Series 14, on December 1, 1996, its GNMA-
Collateralized Bonds, Series 15, on December 1, 1996, its Mortgage-
Collateralized Bonds, Series 16 and 17, on February 1, 1997, and its Mortgage-
Collateralized Bonds, Series 18 and 20, on May 1, 1997.

The Series 8 and 11 Bonds are collateralized by GNMA Certificates, while the
Series 7 and 10 Bonds are collateralized by FNMA Certificates.

In addition, in the case of series of Bonds with respect to which the Company
has sold the underlying collateral subject to the lien of the Indenture, the
Bonds of each such series are also secured by limited recourse promissory notes
of RMI having payment terms the same as those of the respective outstanding
class of the related series of Bonds.  The collateral pledged for a particular
series of Bonds is not available as collateral for any other series.

The collateral for each of the respective bonds (including those with respect to
which the Company has sold the underlying collateral subject to the lien of the
Indenture) is held by the Trustee for the benefit of the bondholders.  The
portion of the proceeds account established for each series of bonds which is
not necessary to make required payments on the bonds of such series will be paid
to the Company or, in the case of series of Bonds with respect to which the
Company has sold the underlying collateral, to RMI.  Such payments will be made,
in the case of each series of Bonds, on and after the first Principal Payment
Date for such series.



                                   Continued
                                       10
<PAGE>
 
                                    PART I

                                   FORM 10-Q

Item 1.  Financial Statements, continued.
         ---------------------           

                    RYAN MORTGAGE ACCEPTANCE CORPORATION IV

                    NOTES TO FINANCIAL STATEMENTS, Continued

                         (Dollar amounts in thousands)

                                   --------

4.   The Company is a wholly owned limited purpose financing subsidiary of NVR
     Financial Services, Inc. ("NVRFS") (formerly Ryan Financial Services,
     Inc.).  NVRFS is a wholly owned subsidiary of NVR, Inc. ("NVR"), the
     successor to NVR L.P.

     Pursuant to an arrangement established in connection with the 1987
     acquisition by NVR L.P. of Ryan Homes, Inc. (parent company of NVRFS until
     September 30, 1993), the Company may receive payments from, or make
     payments to, NVRFS in the form of an income maintenance allowance based
     upon profits or losses generated over the lives of bonds series issued
     prior to June 23, 1987.

     NVR Mortgage Finance, Inc. was formed in 1991 to succeed to the mortgage
     banking business of NVRFS and NVR Mortgage L.P. and presently is conducting
     NVR's mortgage origination and servicing business.

5.   All amounts receivable from/payable to affiliates bear interest at an
     intercompany rate determined by NVRFS.  All amounts payable to affiliates
     are subordinate to the Company's obligations to the holder's of its Bonds.
     During 1997, $626 was distributed to NVRFS as a return of capital.



                                   Continued
                                      11
<PAGE>
 
                                    PART I

                                   FORM 10-Q

                    RYAN MORTGAGE ACCEPTANCE CORPORATION IV


Item 2.  Management's Discussion and Analysis of Financial Condition
         -----------------------------------------------------------
         and Results of Operations.  (Dollars in Thousands)
         --------------------------------------------------

     The Company's long-term debt consists of its Mortgage-Collateralized Bonds,
Series 8 and 11, issued in four classes (collectively, the "Mortgage-
Collateralized Bonds").  The Company also has issued and outstanding its
Mortgage-Collateralized Bonds, Series 7 and 10, issued in four classes (such
Bonds, together with the Mortgage-Collateralized Bonds are referred to herein as
the "Bonds").  On September 23, 1988, the Company sold the GNMA Certificates,
FNMA Certificates and other collateral owned by the Company and pledged to
secure the Company's GNMA/FNMA Collateralized Bonds, Series 1 and 2, and its
Mortgage-Collateralized Bonds Series 3, 4, 7, 10 and 19 and Series 21 through 31
(Series 1-4, Series 19, and Series 21-31 which are no longer outstanding) to
RYMAC Mortgage Investment I, Inc. ("RMI"), a wholly owned subsidiary of RYMAC
Mortgage Investment Corporation.  Such collateral was sold to RMI subject to the
lien of the Indenture and subject to the rights of the Trustee and the
Bondholders thereunder, in exchange for cash and delivery of limited recourse
promissory notes of RMI (the "RMI Notes") having payment terms the same as those
of the respective classes of the related series of Bonds.  RMI subsequently
sold, subject to such liens and rights, the collateral securing the Company's
Mortgage-Collateralized Bonds, Series 3, 4, 7, 10 and 19.  In accordance with
FASB Technical Bulletin 85-2, the assets, liabilities, interest income and
interest expense relating to such Bonds are not shown on the balance sheet or
the statement of operations of the Company.  For purposes of establishing the
principal amount of GNMA and/or FNMA Certificates ("Certificates") which may be
pledged to secure a series of Bonds, each Certificate bearing interest at a rate
equal to or exceeding the highest interest rate on any class in a series (the
"Discount Rate") is valued at its unpaid principal amount.  Each Certificate
bearing interest at a rate less than the Discount Rate is valued at an amount
equal to either (i) the present value, discounted at the Discount Rate, of all
remaining scheduled installments of principal and interest on such Certificate,
together with reinvestment income thereon, such that the cash flow from such
Certificate and the reinvestment income thereon, together with the proceeds of
certain other collateral, will be at all times sufficient to support the debt
service requirements of the principal amount of Bonds secured by such
Certificate or (ii) the amount which, when divided into the annual interest on
the Certificate, results in an interest yield at least equal to the Discount
Rate.  GNMA Certificates that are backed by graduated payment mortgages and that
are valued according to the method described in clause (ii) of the preceding
sentence are valued after taking into account the funds established to provide
additional cash flow to pay interest on the Bonds.  Although the Company does
not have and does not expect to have any significant assets other than
Certificates owned by the Company, the RMI Notes, notes to the Company from
limited purpose finance subsidiaries of certain home builders and/or financial
institutions, GNMA Certificates pledged to the Company as security for such
notes and the reserve amounts, all of which are pledged as collateral for the
Bonds, the Company believes that such collateral will provide cash sufficient to
meet the required payments of principal and interest on such Bonds.

                                   Continued
                                       12
<PAGE>
 
                                    PART I

                                   FORM 10-Q

                    RYAN MORTGAGE ACCEPTANCE CORPORATION IV


Item 2.  Management's Discussion and Analysis of Financial Condition
         -----------------------------------------------------------
         and Results of Operations, (continued).
         --------------------------             

     The Bonds are secured by GNMA Certificates which are guaranteed as to
payment of principal and interest by GNMA, which guaranty is backed by the full
faith and credit of the United States and/or FNMA Certificates which are
guaranteed as to full and timely payment of principal and interest by FNMA, a
federally chartered, privately owned corporation.

     The net premium/discount on the Certificates is amortized using the
interest method over the estimated lives of the Certificates.  The deferred
costs and bond discounts relating to the issuance of the Company's long-term
debt are amortized over the estimated lives of the Mortgage-Collateralized Bonds
using the interest method.  The amounts amortized and accreted during any
accounting period do not necessarily correspond to actual cash flow during the
same period.

     Interest income for the six months ended June 30, 1997 decreased $2,735
compared to the six months ended June 30, 1996.  This decrease was due to
principal payments on mortgage-backed securities and the sale of mortgage-backed
securities.  Interest expense for the six months ended June 30, 1997 decreased
$2,682 compared to the six months ended June 30, 1996.  This decrease was due to
redemption of bonds.  The changes in accretion of net discount (premium) on
mortgage-backed securities, amortization of deferred bond issue costs and bond
discounts between the six months ended June 30, 1997 and June 30, 1996 are
principally due to the sale of mortgage-backed securities and redemption of
bonds during 1996 and 1997.  No other revenue or expense item changes are deemed
significant.

     The Company commenced operations in May 1984 and was organized to
facilitate the financing of long term residential mortgage loans.  The Company
does not engage in any business or investment activities other than issuing and
selling GNMA/FNMA-Collateralized Bonds, Mortgage-Collateralized Bonds and bonds
backed by mortgage loans or other types of mortgage-related securities and
acquiring, owning, holding, pledging and dealing with GNMA Certificates, FNMA
Certificates, mortgage loans and other mortgage-related securities.  The Company
does not consider period-to-period comparisons of its financial position to be
meaningful.



                                   Continued
                                      13
<PAGE>
 
                                    PART II

                                   FORM 10-Q

                    RYAN MORTGAGE ACCEPTANCE CORPORATION IV

Item 1.   Legal Proceedings.
          ------------------

          The Company is involved in no pending legal proceedings, nor is the
          Company aware of any proceedings contemplated by governmental
          authorities.

Item 2.   Changes in Securities.
          ----------------------

          Omitted pursuant to General Instruction H.

Item 3.   Defaults Upon Senior Securities.
          --------------------------------

          Omitted pursuant to General Instruction H.

Item 4.   Submission of Matters to a Vote of Security Holders.
          ----------------------------------------------------

          Omitted pursuant to General Instruction H.

Item 5.   Other Information.
          ------------------
 
          None

Item 6.   Exhibits and Reports on Form 8-K.
          ---------------------------------
 
          (a)  Exhibits
 
               3.1    Restated Certificate of Incorporation of the Company/1/
 
               3.2    By-Laws of the Company/2/
 
               3.2.1  Amendment to By-Laws of the Company adopted June 24,
                      1987/3/
 
               4.1    Indenture dated as of May 1, 1984 between the
                      Company and Trustee/4/
 
               4.1.1  First Supplemental Indenture to Indenture/5/
 
               4.1.2  Second Supplemental Indenture to Indenture/6/
 
               4.1.3  Third Supplemental Indenture to Indenture/7/
 
               4.1.4  Fourth Supplemental Indenture to Indenture/8/
 
               4.1.5  Fifth Supplemental Indenture to Indenture/9/
 
               4.1.6  Sixth Supplemental Indenture to Indenture/10/
 
               4.1.7  Seventh Supplemental Indenture to Indenture/11/
 

                                      14
<PAGE>
 
                                    PART II

                                   FORM 10-Q

                    RYAN MORTGAGE ACCEPTANCE CORPORATION IV

Item 6.   Exhibits and Reports on Form 8-K, continued.
          --------------------------------            

          (a)  Exhibits, continued
 
               4.1.8  Eighth Supplemental Indenture to Indenture/12/
 
               4.1.9  Ninth Supplemental Indenture to Indenture/13/
 
               4.1.10 Tenth Supplemental Indenture to Indenture/14/
 
               4.1.11 Eleventh Supplemental Indenture to Indenture/15/
 
               4.2    Series 1 Supplement to Indenture/16/
 
               4.2.1  First Supplemental Indenture to Series 1 Supplement/17/
 
               4.2.2  Purchase Agreement with respect to collateral
                      securing Series 1 Bonds/18/
 
               4.3    Series 2 Supplement to Indenture/19/
 
               4.3.1  First Supplemental Indenture to Series 2 Supplement/20/
 
               4.3.2  Second Supplemental Indenture to Series 2
                      Supplement/21/
 
               4.3.3  Purchase Agreement with respect to collateral
                      securing Series 2 Bonds/22 /
 
               4.3.4  Third Supplemental Indenture to Series 2 Supplement/23/
 
               4.4    Series 3 Supplement to Indenture/24/
 
               4.4.1  First Supplemental Indenture to Series 3 Supplement/25/
 
               4.4.2  Purchase Agreement with respect to collateral
                      securing Series 3 Bonds/26/
 
               4.5    Series 4 Supplement to Indenture/27/
 
               4.5.1  First Supplemental Indenture to Series 4 Supplement/28/
 
               4.5.2  Second Supplemental Indenture to Series 4
                      Supplement/29/
 
               4.5.3  Third Supplemental Indenture to Series 4 Supplement/30/
 
               4.5.4  Purchase Agreement with respect to collateral
                      securing Series 4 Bonds/31/
 
               4.6    Series 5 Supplement to Indenture/32/
 
               4.6.1  First Supplemental Indenture to Series 5, 6, 7, 8,
                      9, 10 and 11 Supplements/33/
 



                                   Continued
                                      15
<PAGE>
 
                                    PART II

                                   FORM 10-Q

                    RYAN MORTGAGE ACCEPTANCE CORPORATION IV

Item 6.   Exhibits and Reports on Form 8-K, continued.
          --------------------------------            

          (a)  Exhibits, continued
 
               4.7    Series 6 Supplement to Indenture/34/
 
               4.8    Series 7 Supplement to Indenture/35/
 
               4.8.1  Second Supplemental Indenture to Series 7
                      Supplement/36/
 
               4.8.2  Purchase Agreement with respect to collateral
                      securing Series 7 Bonds/37/
 
               4.9    Series 8 Supplement to Indenture/38/
 
               4.10   Series 9 Supplement to Indenture/39/
 
               4.11   Series 10 Supplement to Indenture/40/
 
               4.11.1 Second Supplement to Series 10 Supplement/41/
 
               4.11.2 Purchase Agreement with respect to collateral
                      securing Series 10 Bonds/42/
 
               4.12   Series 11 Supplement to Indenture/43/
 
               4.12.1 Second Supplemental Indenture to Series 11
                      Supplement/44/
 
               4.13   Series 12 Supplement to Indenture/45/
 
               4.14   Series 13 Supplement to Indenture/46/
 
               4.15   Series 14 Supplement to Indenture/47/
 
               4.16   Series 15 Supplement to Indenture/48/
 
               4.17   Series 16 Supplement to Indenture/49/
 
               4.18   Series 17 Supplement to Indenture/50/
 
               4.19   Series 18 Supplement to Indenture/51/
 
               4.20   Series 19 Supplement to Indenture/52/
 
               4.20.1 First Supplemental Indenture to Series 19
                      Supplement/53/
 
               4.20.2 Purchase Agreement with respect to collateral
                      securing Series 19 Bonds/54/
 

                                   Continued
                                      16
<PAGE>
 
                                    PART II

                                   FORM 10-Q

                    RYAN MORTGAGE ACCEPTANCE CORPORATION IV

Item 6.   Exhibits and Reports on Form 8-K, continued.
          --------------------------------            

          (a)  Exhibits, continued
 
               4.21   Series 20 Supplement to Indenture/55/
 
               4.22   Series 21 Supplement to Indenture/56/
 
               4.22.1 First Supplemental Indenture to Series 21, 22, 23,
                      24 and 25 Supplements/57/
 
              4.22.2  Second Supplemental Indenture to Series 21
                      Supplement/58/
 
              4.22.3  Purchase Agreement with respect to collateral
                      securing Series 21 Bonds/59/
 
              4.23    Series 22 Supplement to Indenture/60/
 
              4.23.1  First Supplemental Indenture to Series 22
                      Supplement/61/
 
              4.23.2  Second Supplemental Indenture to Series 22
                      Supplement/62/
 
              4.23.3  Purchase Agreement with respect to collateral
                      securing Series 22 Bonds/63/
 
              4.24    Series 23 Supplement to Indenture/64/
 
              4.24.1  Second Supplemental Indenture to Series 23
                      Supplement/65/
 
              4.24.2  Purchase Agreement with respect to collateral
                      securing Series 23 Bonds/66/
 
              4.25    Series 24 Supplement to Indenture/67/
 
              4.25.1  Second Supplemental Indenture to Series 24
                      Supplement/68/
 
              4.25.2  Purchase Agreement with respect to collateral
                      securing Series 24 Bonds/69/
 
              4.26    Series 25 Supplement to Indenture/70/
 
              4.26.1  Second Supplemental Indenture to Series 25
                      Supplement/71/
 
              4.26.2  Purchase Agreement with respect to collateral
                      securing Series 25 Bonds/72/
 


                                   Continued
                                      17
<PAGE>
 
                                    PART II

                                   FORM 10-Q

                    RYAN MORTGAGE ACCEPTANCE CORPORATION IV

Item 6.   Exhibits and Reports on Form 8-K, continued.
          --------------------------------            
          (a)  Exhibits, continued
 
               4.27   Series 26 Supplement to Indenture/73/
 
               4.27.1 First Supplemental Indenture to Series 26
                      Supplement/74/
 
               4.27.2 Purchase Agreement with respect to collateral
                      securing Series 26 Bonds/75/
 
               4.28   Series 27 Supplement Indenture/76/
 
               4.28.1 First Supplemental Indenture to Series 27
                      Supplement/77/
 
               4.28.2 Purchase Agreement with respect to collateral
                      securing Series 27 Bonds/78/
 
               4.29   Series 28 Supplement to Indenture/79/
 
               4.29.1 First Supplemental Indenture to Series 28
                      Supplement/80/
 
               4.29.2 Purchase Agreement with respect to collateral
                      securing Series 28 Bonds/81/
 
               4.30   Series 29 Supplement to Indenture/82/
 
               4.30.1 First Supplemental Indenture to Series 29
                      Supplement/83/
 
               4.30.2 Purchase Agreement with respect to collateral
                      securing Series 29 Bonds/84/
 
               4.31   Series 30 Supplement to Indenture/85/
 
               4.31.1 First Supplemental Indenture to Series 30
                      Supplement/86/
 
               4.31.2 Purchase Agreement with respect to collateral
                      securing Series 30 Bonds/87/
 
               4.32   Series 31 Supplement to Indenture/88/
 
               4.32.1 First Supplemental Indenture to Series 31
                      Supplement/89/
 
               4.32.2 Purchase Agreement with respect to collateral
                      securing Series 31 Bonds/90/
 



                                   Continued
                                      18
<PAGE>
 
                                    PART II

                                   FORM 10-Q

                    RYAN MORTGAGE ACCEPTANCE CORPORATION IV

Item 6.   Exhibits and Reports on Form 8-K, continued.
          --------------------------------            
          (a)  Exhibits, continued
 
               4.33   Series 32 Supplement to Indenture/91/
 
               4.34   Series 33 Supplement to Indenture/92/
 
               4.35   First Amendment to Purchase Agreements/93/
 
               4.36   Form of Guaranty Agreement with respect to Single-
                      Family (Level Payment) Mortgage-Backed Certificates
                      between GNMA Issuer and GNMA (GNMA I)/94/
 
               4.37   Form of Guaranty Agreement with respect to Graduated
                      Payment Mortgage-Backed Certificates between GNMA
                      Issuer and GNMA (GNMA I)/95/
 
               4.38   Contractual Provisions of Mortgage-Backed Securities
                      Guide for GNMA II Program (Constituting the Guaranty
                      Agreement for GNMA II Program)/96/
 
               4.39   Form of FNMA Pool Purchase Contract/97/
 
               4.40   Trust Indenture dated as of November 1, 1981, as
                      amended, between FNMA in its corporate capacity and
                      FNMA, as trustee ("FNMA Indenture")/98/
 
               4.41   Sixth Supplemental Indenture dated as of May 1, 1985
                      to FNMA Indenture/99/
 
               4.42   Agreement to Purchase Conventional Home Mortgages
                      and to Sell Mortgage Participation Certificates
                      between FHLMC and FHLMC Seller-Servicer/100/
 
               4.43   Agreement to Guarantee Timely Payment of Scheduled
                      Principal between FHLMC and FHLMC Seller-Servicer/101/
 
               4.44   FHLMC Mortgage Participation Certificate Agreement/102/
 
               4.45   Guaranty between the Mortgage Company and the
                      Trustee/103/
 
               4.46   Letter Agreement among RHI, the Mortgage Company and
                      the Company/104/
 
               10.1   Form of Participation Agreement/105/
 
               10.2   Form of Funding Agreement/106/
 


                                   Continued
                                      19
<PAGE>
 
                                    PART II

                                   FORM 10-Q

                    RYAN MORTGAGE ACCEPTANCE CORPORATION IV

Item 6.   Exhibits and Reports on Form 8-K, continued.
          --------------------------------            

          (a)  Exhibits, continued
 
               10.3    Agreement among the Company, Mellon National Corporation
                       ("Mellon") and certain of Mellon's subsidiaries/107/

               10.4    Form of Guaranteed Investment Contract/108/

          (b) Reports on Form 8-K

               No report on Form 8-K was filed by the Company during the quarter
ended June 30, 1997.
____________________________________

(1)  Incorporated by reference to Exhibit 3.1 filed with Post-Effective
     Amendment No. 1 to Registration Statement No. 2-89611 on June 28, 1985.

(2)  Incorporated by reference to Exhibit 3.2 filed with the Company's Form 10.

(3)  Incorporated by reference to Exhibit 3.2.1 filed with the Company's
     Quarterly Report on Form 10-Q for the period ended June 30, 1987.

(4)  Incorporated by reference to Exhibit 4.1 filed with the Company's Current
     Report on Form 8-K on June 29, 1984.

(5)  Incorporated by reference to Exhibit 4.4 filed with the Company's Annual
     Report on Form 10-K for the year ended December 31, 1984.

(6)  Incorporated by reference to Exhibit 4.5 filed with the Company's Quarterly
     Report on Form 10-Q for the period ended March 31, 1985.

(7)  Incorporated by reference to Exhibit 4.7 filed with the Company's
     Registration Statement No. 33-670 on October 4, 1985.

(8)  Incorporated by reference to Exhibit 4.1 filed with the Company's Current
     Report on Form 8-K on May 2, 1986.

(9)  Incorporated by reference to Exhibit 4.1 filed with the Company's Current
     Report on Form 8-K on July 21, 1986.

(10) Incorporated by reference to Exhibit 4.14 filed with the Company's
     Quarterly Report on Form 10-Q for the period ended June 30, 1986.

(11) Incorporated by reference to Exhibit 4.21 filed with the Company's
     Quarterly Report on Form 10-Q for the period ended September 30, 1986.

(12) Incorporated by reference to Exhibit 4.33 filed with the Company's
     Quarterly Report on Form 10-Q for the period ended June 30, 1987.



                                   Continued
                                      20
<PAGE>
 
                                    PART II

                                   FORM 10-Q

                    RYAN MORTGAGE ACCEPTANCE CORPORATION IV

Item 6.   Exhibits and Reports on Form 8-K, continued.
          --------------------------------            

(13) Incorporated by reference to Exhibit 4.4 filed with the Company's Current
     Report on Form 8-K on March 18, 1988.

(14) Incorporated by reference to Exhibit 4.19 filed with the Company's Current
     Report on Form 8-K on October 11, 1988.

(15) Incorporated by reference to Exhibit 4.1.11 filed with the Company's Annual
     Report on Form 10-K for the year ended December 31, 1989.

(16) Incorporated by reference to Exhibit 4.2 filed with the Company's Current
     Report on Form 8-K on June 29, 1984.

(17) Incorporated by reference to Exhibit 4.1 filed with the Company's Current
     Report on Form 8-K on October 11, 1988.

(18) Incorporated by reference to Exhibit 4.1.1 filed with the Company's Current
     Report on Form 8-K on October 11, 1988.

(19) Incorporated by reference to Exhibit 4.3 filed with the Company's Quarterly
     Report on Form 10-Q for the period ended September 30, 1984.

(20) Incorporated by reference to Exhibit 4.6 filed with the Company's Quarterly
     Report on Form 10-Q for the period ended March 31, 1985.

(21) Incorporated by reference to Exhibit 4.2 filed with the Company's Current
     Report on Form 8-K on October 11, 1988.

(22) Incorporated by reference to Exhibit 4.2.1 filed with the Company's Current
     Report on Form 8-K on October 11, 1988.

(23) Incorporated by reference to Exhibit 4.3.4 filed with the Company's
     Quarterly Report on Form 10-Q for the period ended September 30, 1993.

(24) Incorporated by reference to Exhibit 4.8.1 filed with Registration
     Statement No. 33-670 on October 4, 1985.

(25) Incorporated by reference to Exhibit 4.3 filed with the Company's Current
     Report on Form 8-K on October 11, 1988.

(26) Incorporated by reference to Exhibit 4.3.1 filed with the Company's Current
     Report on Form 8-K on October 11, 1988.

(27) Incorporated by reference to Exhibit 4.2 filed with the Company's Current
     Report on Form 8-K on May 2, 1986.

(28) Incorporated by reference to Exhibit 4.3 filed with the Company's Current
     Report on Form 8-K on May 2, 1986.

(29) Incorporated by reference to Exhibit 4.24 filed with Post-Effective
     Amendment No. 1 to Registration Statement No. 33-8475 on January 21, 1987.



                                   Continued
                                      21
<PAGE>
 
                                    PART II

                                   FORM 10-Q

                    RYAN MORTGAGE ACCEPTANCE CORPORATION IV

Item 6.   Exhibits and Reports on Form 8-K, continued.
          --------------------------------            

(30) Incorporated by reference to Exhibit 4.4 filed with the Company's Current
     Report on Form 8-K on October 11, 1988.

(31) Incorporated by reference to Exhibit 4.4.1 filed with the Company's Current
     Report on Form 8-K on October 11, 1988.

(32) Incorporated by reference to Exhibit 4.2 filed with the Company's Current
     Report on Form 8-K on July 21, 1986.

(33) Incorporated by reference to Exhibit 4.25 filed with Post-Effective
     Amendment No. 1 to Registration Statement No. 33-8475 on January 21, 1987.

(34) Incorporated by reference to Exhibit 4.15 filed with the Company's
     Quarterly Report on Form 10-Q for the period ended June 30, 1986.

(35) Incorporated by reference to Exhibit 4.16 filed with the Company's
     Quarterly Report on Form 10-Q for the period ended June 30, 1986.

(36) Incorporated by reference to Exhibit 4.5 filed with the Company's Current
     Report on Form 8-K on October 11, 1988.

(37) Incorporated by reference to Exhibit 4.5.1 filed with the Company's Current
     Report on Form 8-K on October 11, 1988.

(38) Incorporated by reference to Exhibit 4.17 filed with the Company's
     Quarterly Report on Form 10-Q for the period ended September 30, 1986.

(39) Incorporated by reference to Exhibit 4.18 filed with the Company's
     Quarterly Report on Form 10-Q for the period ended September 30, 1986.

(40) Incorporated by reference to Exhibit 4.19 filed with the Company's
     Quarterly Report on Form 10-Q for the period ended September 30, 1986.

(41) Incorporated by reference to Exhibit 4.6 filed with the Company's Quarterly
     Report on Form 8-K on October 11, 1988.

(42) Incorporated by reference to Exhibit 4.6.1 filed with the Company's
     Quarterly Report on Form 8-K on October 11, 1988.

(43) Incorporated by reference to Exhibit 4.20 filed with the Company's
     Quarterly Report on Form 10-Q for the period ended September 30, 1986.

(44) Incorporated by reference to Exhibit 4.25.1 filed with the Company's Annual
     Report on Form 10-K for the year ended December 31, 1986.

(45) Incorporated by reference to Exhibit 4.22 filed with the Company's
     Quarterly Report on Form 10-Q for the period ended September 30, 1986.



                                   Continued
                                      22
<PAGE>
 
                                    PART II

                                   FORM 10-Q

                    RYAN MORTGAGE ACCEPTANCE CORPORATION IV

Item 6.   Exhibits and Reports on Form 8-K, continued.
          --------------------------------            

(46) Incorporated by reference to Exhibit 4.23 filed with the Company's
     Quarterly Report on Form 10-Q for the period ended September 30, 1986.

(47) Incorporated by reference to Exhibit 4.26 filed with Post-Effective
     Amendment No. 1 to Registration Statement No. 33-8475 on January 21, 1987.

(48) Incorporated be reference to Exhibit 4.27 filed with Post-Effective
     Amendment No. 1 to Registration Statement No. 33-8475 on January 21, 1987.

(49) Incorporated by reference to Exhibit 4.28 filed with Post-Effective
     Amendment No. 1 to Registration Statement No. 33-8475 on January 21, 1987.

(50) Incorporated by reference to Exhibit 4.29 filed with the Company's Annual
     Report on Form 10-K for the year ended December 31, 1986.

(51) Incorporated by reference to Exhibit 4.30 filed with the Company's Annual
     Report on Form 10-K for the year ended December 31, 1986.

(52) Incorporated by reference to Exhibit 4.31 filed with the Company's
     Quarterly Report on Form 10-Q for the period ended March 31, 1987.

(53) Incorporated by reference to Exhibit 4.7 filed with the Company's Current
     Report on Form 8-K on October 11, 1988.

(54) Incorporated by reference to Exhibit 4.7.1 filed with the Company's Current
     Report on Form 8-K on October 11, 1988.

(55) Incorporated by reference to Exhibit 4.32 filed with the Company's
     Quarterly Report on Form 10-Q for the period ended March 31, 1987.

(56) Incorporated by reference to Exhibit 4.34 filed with the Company's
     Quarterly Report on Form 10-Q for the period ended June 30, 1987.

(57) Incorporated by reference to Exhibit 4.5 filed with the Company's Current
     Report on Form 8-K on March 18, 1988.

(58) Incorporated by reference to Exhibit 4.8 filed with the Company's Current
     Report on Form 8-K on October 11, 1988.

(59) Incorporated by reference to Exhibit 4.8.1 filed with the Company's Current
     Report on Form 8-K on October 11, 1988.

(60) Incorporated by reference to Exhibit 4.35 filed with the Company's
     Quarterly Report on Form 10-Q for the period ended September 30, 1987.

(61) Incorporated by reference to Exhibit 4.36 filed with the Company's
     Quarterly Report on Form 10-Q for the period ended September 30, 1987.



                                   Continued
                                      23
<PAGE>
 
                                    PART II

                                   FORM 10-Q

                    RYAN MORTGAGE ACCEPTANCE CORPORATION IV

Item 6.   Exhibits and Reports on Form 8-K, continued.
          --------------------------------            

(62) Incorporated by reference to Exhibit 4.9 filed with the Company's Current
     Report on Form 8-K on October 11, 1988.

(63) Incorporated by reference to Exhibit 4.9.1 filed with the Company's Current
     Report on Form 8-K on October 11, 1988.

(64) Incorporated by reference to Exhibit 4.37 filed with the Company's
     Quarterly Report on Form 10-Q for the period ended September 30, 1987.


(65) Incorporated by reference to Exhibit 4.10 filed with the Company's Current
     Report on Form 8-K on October 11, 1988.

(66) Incorporated by reference to Exhibit 4.10.1 filed with the Company's
     Current Report on Form 8-K on October 11, 1988.

(67) Incorporated by reference to Exhibit 4.38 filed with the Company's
     Quarterly Report on Form 10-Q for the period ended September 30, 1987.

(68) Incorporated by reference to Exhibit 4.11 filed with the Company's Current
     Report on Form 8-K on October 11, 1988.

(69) Incorporated by reference to Exhibit 4.11.1 filed with the Company Current
     Report on Form 8-K on October 11, 1988.

(70) Incorporated by reference to Exhibit 4.1 filed with the Company's Current
     Report on Form 8-K on March 18, 1988.

(71) Incorporated by reference to Exhibit 4.12 filed with the Company's Current
     Report on Form 8-K on October 11, 1988.

(72) Incorporated by reference to Exhibit 4.12.1 filed with the Company's
     Current Report on Form 8-K on October 11, 1988.

(73) Incorporated by reference to Exhibit 4.2 filed with the Company's Current
     Report on Form 8-K on March 18, 1988.

(74) Incorporated by reference to Exhibit 4.13 filed with the Company's Current
     Report on Form 8-K on October 11, 1988.

(75) Incorporated by reference to Exhibit 4.13.1 filed with the Company's
     Current Report  on Form 8-K on October 11, 1988.

(76) Incorporated by reference to Exhibit 4.3 filed with the Company's Current
     Report on Form 8-K on March 18, 1988.

(77) Incorporated by reference to Exhibit 4.14 filed with the Company's Current
     Report on Form 8-K on October 11, 1988.



                                   Continued
                                      24
<PAGE>
 
                                    PART II

                                   FORM 10-Q

                    RYAN MORTGAGE ACCEPTANCE CORPORATION IV

Item 6.   Exhibits and Reports on Form 8-K, continued.
          --------------------------------            

(78) Incorporated by reference to Exhibit 4.14.1 filed with the Company's
     Current Report on Form 8-K on October 11, 1988.

(79) Incorporated by reference to Exhibit 4.44 filed with the Company's
     Quarterly Report on Form 10-Q for the period ended March 31, 1988.

(80) Incorporated by reference to Exhibit 4.15 filed with the Company's Current
     Report on Form 8-K on October 11, 1988.

(81) Incorporated by reference to Exhibit 4.15.1 filed with the Company's
     Current Report on Form 8-K on October 11, 1988.

(82) Incorporated by reference to Exhibit 4.45 filed with the Company's
     Quarterly Report on Form 10-Q for the period ended June 30, 1988.

(83) Incorporated by reference to Exhibit 4.16 filed with the Company's Current
     Report on Form 8-K on October 11, 1988.

(84) Incorporated by reference to Exhibit 4.16.1 filed with the Company's
     Current Report on Form 8-K on October 11, 1988.

(85) Incorporated by reference to Exhibit 4.46 filed with the Company's
     Quarterly Report on Form 10-Q for the period ended June 30, 1988.

(86) Incorporated by reference to Exhibit 4.17 filed with the Company's Current
     Report on Form 8-K on October 11, 1988.

(87) Incorporated by reference to Exhibit 4.17.1 filed with the Company's
     Current Report on Form 8-K on October 11, 1988.

(88) Incorporated by reference to Exhibit 4.33 filed with the Company's
     Quarterly Report on Form 10-Q for the period ended September 30, 1988.

(89) Incorporated by reference to Exhibit 4.18 filed with the Company's Current
     Report on Form 8-K on October 11, 1988.

(90) Incorporated reference to Exhibit 4.18.1 filed with the Company's Current
     Report on Form 8-K on October 11, 1988.

(91) Incorporated by reference to Exhibit 4.34 filed with the Company's
     Quarterly Report on Form 10-Q for the period ended September 30, 1988.

(92) Incorporated by reference to Exhibit 4.34 filed with the Company's Annual
     Report on Form 10-K for the year ended December 31, 1988.

(93) Incorporated by reference to Exhibit 4.35 filed with the Company's
     Quarterly Report on Form 10-Q for the period ended March 31, 1989.

(94) Incorporated by reference to Exhibit 4.3 filed with Registration Statement
     No. 2-89611 on February 23, 1984.



                                   Continued
                                      25
<PAGE>
 
                                    PART II

                                   FORM 10-Q

                    RYAN MORTGAGE ACCEPTANCE CORPORATION IV

Item 6.   Exhibits and Reports on Form 8-K, continued.
          --------------------------------            

(95) Incorporated by reference to Exhibit 4.4 filed with Registration Statement
     No. 2-89611 on February 23, 1984.

(96) Incorporated by reference to Exhibit 4.5 filed with Registration Statement
     No. 2-89611 on February 23, 1984.

(97) Incorporated by reference to Exhibit 4.6 filed with Amendment No. 1 to
     Registration Statement No. 2-89611 on April 19, 1984.

(98)  Incorporated by reference to Exhibit 4.9 filed with the Company's Annual
      report on Form 10-K for the year ended December 31, 1984.

(99)  Incorporated by reference to Exhibit 4.14 to Post Effective Amendment No.
      1 to Registration Statement No. 2-89611 on June 28, 1985.

(100) Incorporated by reference to Exhibit 4.15 to Post-Effective Amendment No.
      1 to Registration Statement No. 2-89611 on June 28, 1985.
 
(101) Incorporated by reference to Exhibit 4.16 filed with Registration
      Statement No. 33-670 on October 4, 1985.

(102) Incorporated by reference to Exhibit 4.17 filed with Registration
      Statement No. 33-670 on October 4, 1985.

(103) Incorporated by reference to Exhibit 4.11 filed with the Company's
      Quarterly Report on Form 10-Q for the period ended June 30, 1984.

(104) Incorporated by reference to Exhibit 4.19 filed with Registration
      Statement No. 33-670 on October 4, 1985.

(105) Incorporated by reference to Exhibit 10.1 filed with the Company's
      Quarterly Report on Form 10-Q for the period ended September 30, 1985.

(106) Incorporated by reference to Exhibit 10.2 filed with the Company's
      Quarterly Report on Form 10-Q for the period ended September 30, 1985.

(107) Incorporated by reference to Exhibit 10.3 filed with Amendment No.1 to
      Registration Statement No. 2-89611 on April 19, 1984.

(108) Incorporated by reference to Exhibit 10.4 filed with Registration
      Statement No. 33-670 on October 4, 1985.



                                      26
<PAGE>
 
                                   FORM 10-Q

                                   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 thereunto duly authorized.


  
                                    RYAN MORTGAGE ACCEPTANCE CORPORATION IV


         August 14, 1997            By:    /s/  William J. Inman
    ------------------------           -------------------------------------
              Date                     William J. Inman, President and
                                       Chairman of the Board of Directors
                                       (Duly Authorized Officer)



         August 14, 1997            By:    /s/  Peter J. Fitzsimmons
    --------------------------          -------------------------------------
             Date                       Peter J. Fitzsimmons, Vice President;
                                        Controller; Secretary; Director
                                        (Principal Financial and Accounting
                                        Officer)



                                      27