- - -----------------------------------------------------------------------------
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) November 30, 1998
FINANCIAL ASSET SECURITIES CORP., (as depositor under the Trust
Agreement, dated as of
November 1, 1998, relating to the City Capital Home Loan Trust 1998-4,
Asset Backed Notes, Series 1998-4.
FINANCIAL ASSET SECURITIES CORP.
-------------------------------
(Exact name of registrant as specified in its charter)
<TABLE>
<CAPTION>
<S> <C> <C>
Delaware 333-44067 06-1442101
- - -------------------------------------- ----------------- -----------------------
(State or Other Jurisdiction of (Commission (I.R.S. Employer
Incorporation) File Number) Identification No.)
600 Steamboat Road Greenwich,
Connecticut 06830
- - -------------------------------------- -------------------
(Address of Principal Executive (Zip Code)
Offices)
</TABLE>
Registrant's telephone number, including area code (203) 622-2700
- - ------------------------------------------------------------------------------
<PAGE>
Item 5. Other Events.
- - ---- ------------
On November 30, 1998 Financial Asset Securities Corp. (the "Company")
is filing a Form T-1 to designate NORWEST BANK MINNESOTA, NATIONAL ASSOCIATION
to act as an elegible trustee under trust indentures to be qualified pursuant to
Sections 305 or 307 of the Trust Indenture Act of 1939. Form T-1 is annexed
hereto as Exhibit 1.
<PAGE>
Item 7. Financial Statements, Pro Forma Financial
Information and Exhibits.
------------------------
(a) Not applicable.
(b) Not applicable.
(c) Exhibit:
1. Form T-1
<PAGE>
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant duly caused this report to be signed on its behalf by the undersigned
hereunto duly authorized.
FINANCIAL ASSET SECURITIES CORP.
By: /s/ John Paul Graham
----------------------
Name: John Paul Graham
Title: Vice President
Dated: November 30, 1998
<PAGE>
Exhibit Index
- - -------------
Exhibit Page
- - ------- ----
1. Form T-1
===============================================================================
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
----------------
FORM T-1
STATEMENT OF ELIGIBILITY
UNDER THE TRUST INDENTURE ACT OF 1939 OF A
CORPORATION DESIGNATED TO ACT AS TRUSTEE
----------------
___ CHECK IF AN APPLICATION TO DETERMINE ELIGIBILITY OF A TRUSTEE PURSUANT TO
SECTION 305(b)(2)
NORWEST BANK MINNESOTA, NATIONAL ASSOCIATION
(Exact name of trustee as specified in its charter)
A U.S. National Banking Association 41-1592157
(Jurisdiction of incorporation or (I.R.S. Employer
organization if not a U.S. national Identification No.)
bank)
Sixth Street and Marquette Avenue 55479
Minneapolis, Minnesota (Zip code)
(Address of principal executive offices)
Stanley S. Stroup, General Counsel
NORWEST BANK MINNESOTA, NATIONAL ASSOCIATION
Sixth Street and Marquette Avenue
Minneapolis, Minnesota 55479
(612) 667-1234
(Agent for Service)
----------------
CITY CAPITAL HOME LOAN TRUST
(Exact name of obligor as specified in its charter)
Delaware Not Yet Received
(State or other jurisdiction of (I.R.S. Employer
incorporation or organization) Identification No.)
C/O Wilmington Trust 19890-0001
Rodney Square North (Zip code)
1100 North Market Street
Wilmington, DE
(Address of principal executive offices)
----------------
City Capital Home Loan Trust
Asset-Backed Notes
(Title of the indenture securities)
==============================================================================
<PAGE>
Item 1. General Information. Furnish the following information as to the
trustee:
(a) Name and address of each examining or supervising authority to which
it is subject.
Comptroller of the Currency
Treasury Department
Washington, D.C.
Federal Deposit Insurance Corporation
Washington, D.C.
The Board of Governors of the Federal Reserve System
Washington, D.C.
(b) Whether it is authorized to exercise corporate trust powers.
The trustee is authorized to exercise corporate trust powers.
Item 2. Affiliations with Obligor. If the obligor is an affiliate of the
trustee, describe each such affiliation.
None with respect to the trustee.
No responses are included for Items 3-14 of this Form T-1 because the obligor is
not in default as provided under Item 13.
Item 15. Foreign Trustee. Not applicable.
Item 16. List of Exhibits. List below all exhibits files as a part of
this Statement of Eligibility.
Trustee incorporates by reference into this
Form T-1 the exhibits attached hereto.
Exhibit 1. a. A copy of the Articles of
Association of the trustee now in
effect.*
Exhibit 2. a. A copy of the certificate of
authority of the trustee to
commence business issued June 28,
1872, by the Comptroller of the
Currency to The Northwestern
National Bank of Minneapolis.*
b. A copy of the certificate of the
Comptroller of the Currency dated
January 2, 1934, approving the
consolidation of The Northwestern
National Bank of Minneapolis and The
Minnesota Loan and Trust Company of
Minneapolis, with the surviving
entity being titled Northwestern
National Bank and Trust Company of
Minneapolis.*
c. A copy of the certificate of the
Acting Comptroller of the Currency
dated January 12, 1943, as to change
of corporate title of Northwestern
National Bank and Trust Company of
Minneapolis to Northwestern National
Bank of Minneapolis.*
d. A copy of the letter dated May 12,
1983 from the Regional Counsel,
Comptroller of the Currency,
acknowledging receipt of notice of
name change effective May 1, 1983
from Northwestern National Bank of
Minneapolis to Norwest Bank
Minneapolis, National Association.*
e. A copy of the letter dated January
4, 1988 from the Administrator of
National Banks for the Comptroller
of the Currency certifying approval
of consolidation and merger
effective January 1, 1988 of Norwest
Bank Minneapolis, National
Association with various other banks
under the title of "Norwest Bank
Minnesota, National Association."*
Exhibit 3. A copy of the authorization of the trustee
to exercise corporate trust powers
issued January 2, 1934, by the Federal
Reserve Board.*
Exhibit 4. Copy of By-laws of the trustee as now
in effect.*
Exhibit 5. Not applicable.
Exhibit 6. The consent of the trustee required by
Section 321(b) of the Act.
Exhibit 7. A copy of the latest report of condition
of the trustee published pursuant to law or
the requirements of its supervising or
examining authority.
Exhibit 8. Not applicable.
Exhibit 9. Not applicable.
* Incorporated by reference to Exhibit 25 filed with registration
statement (number 33-66026) of trustee's parent, Norwest
Corporation.
<PAGE>
SIGNATURE
Pursuant to the requirements of the Trust Indenture Act of 1939, as amended, the
trustee, Norwest Bank Minnesota, National Association, a national banking
association organized and existing under the laws of the United State of
America, has duly caused this statement of eligibility to be signed on its
behalf by the undersigned, thereunto duly authorized, all in the city of
Minneapolis and State of Minnesota on the 13th day of November, 1998.
NORWEST BANK MINNESOTA, NATIONAL ASSOCIATION
/s/ Randall S. Reider
Name: Randall S. Reider
Title: Assistant Vice President
<PAGE>
EXHIBIT 6
November 13, 1998
Securities and Exchange Commission
Washington, D.C. 20549
Gentlemen:
In accordance with Section 321(b) of the Trust Indenture Act of 1939, as
amended, the undersigned hereby consents that reports of examination of the
undersigned made by Federal, State, Territorial, or District authorities
authorized to make such examination may be furnished by such authorities to the
Securities and Exchange Commission upon its request therefor.
Very truly yours,
NORWEST BANK MINNESOTA, NATIONAL ASSOCIATION
/s/ Randall S. Reider
Name: Randall S. Reider
Title: Assistant Vice President
