FINANCIAL ASSET SECURITIES CORP
15-15D, 1997-01-30
ASSET-BACKED SECURITIES
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                           Washington, D.C.  20549 
 
                                   Form 15 
 
    Certification and Notice of Termination of Registration under 
          Section 12(g) of the Securities Exchange Act of 1934 or
             Suspension of Duty to File Reports Under Section 13 
              and 15(d) of the Securities Exchange Act of 1934. 
 
                      Commission File Number: 333-10273 
 
                       Financial Asset Securities Corp.           
          -------------------------------------------------------
       (Exact name of registrant as specified in its charter) 
 
                              600 Steamboat Road 
            Greenwich, Connecticut 06830 - (203) 625-2700         
- ------------------------------------------------------------- 
(Address, including zip code, and telephone number, including     
   area code, of registrant's principal executive offices) 
 
             Headlands Home Equity Loan Trust, Series 1996-1, 
          Revolving Home Equity Loan Asset-Backed Certificates, 
                              Class A                     
         ------------------------------------------------------- 
     (Title of each class of securities covered by this Form) 
 
                                None                              
 
- ------------------------------------------------------------- 
(Titles of all other classes of securities for which a duty to    
      file reports under section 13(a) or 15(d) remains) 
 
     Please place an X in the box(es) to designate the
appropriate rule provision(s) relied upon to terminate or suspend
the duty to file reports: 
 
          Rule 12g-4(a)(1)(i)  / /    Rule 12h-3(b)(1)(ii)   / /  
          Rule 12g-4(a)(1)(ii) / /    Rule 12h-3(b)(2)(i)    / /  
          Rule 12g-4(a)(2)(i)  / /    Rule 12h-3(b)(2)(ii)   / /  
          Rule 12g-4(a)(2)(ii) / /    Rule 15d-6             /x/ 
          Rule 12h-3(b)(1)(i)  / /   
 
     Approximate number of holders of record as of the
certification or notice date:   1
                               ---
     Pursuant to the requirements of the Securities Exchange Act
of 1934, Financial Asset Securities Corp. has caused this
certification/notice to be signed on its behalf by the
undersigned duly authorized person. 
 
 
DATE:  January 29, 1997     BY: /s/ Peter A. McMullin            
                                ---------------------------------
                                Peter A. McMullin, Vice President


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