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SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Form 8-K
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
Date of Report (Date of earliest event
Reported) December 14, 1998
FINANCIAL ASSET SECURITIES CORP., (as depositor under the Pooling and
Servicing Agreement, dated as of November 1, 1998, which forms C-BASS
Trust 1998-3, which will issue the Asset-Backed Certificates, Series
1998-3).
FINANCIAL ASSET SECURITIES CORP.
(Exact name of registrant as specified in its charter)
Delaware 333-67329 06-1442101
(State or Other Jurisdiction (Commission (I.R.S. Employer
of Incorporation) File Number) Identification No.)
600 Steamboat Road
Greenwich, Connecticut 06830
(Address of Principal (Zip Code)
Executive Offices)
Registrant's telephone number, including area code (203) 625-2700
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Item 5. Other Events.
Filing of Derived Materials.
In connection with the offering of the C-BASS Trust 1998-3, Asset-
Backed Certificates, Series 1998-3 (the "Certificates"). Greenwich Capital
Markets, Inc. as underwriter of the Certificates (the "Underwriter"), has
prepared certain materials (the "Derived Materials") for distribution to their
potential investors. Although the Registrant provided the Underwriter with
certain information regarding the characteristics of the assets in the related
portfolio, it did not participate in the preparation of the Derived Materials.
Concurrently with the filing hereof, pursuant to Rule 202 of Regulation 202,
the Registrant is filing certain computational materials by paper filing on
Form SE.
For purposes of this Form 8-K, Derived Materials shall mean computer
generated tables and/or charts displaying, with respect to the Certificates,
any of the following: yield; average life, duration; expected maturity; loss
sensitivity; cash flow characteristics; background information regarding the
assets; the proposed structure; decrement tables; or similar information
(tabular or otherwise) of a statistical, mathematical, tabular or
computational nature, as well as certain matters relating to the collateral
for such transaction.
<PAGE>
Item 7. Financial Statements, Pro Forma Financial
Information and Exhibits.
(a) Not applicable.
(b) Not applicable.
(c) Exhibits:
The following is filed herewith. The exhibit number 99.1 corresponds
with Item 601(b) of Regulation S-K.
Exhibit No. Description
99.1 Computational Materials filed on
Form SE dated December 15, 1998
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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 Graham
Name: John Graham
Title: Vice President
Dated: December 15, 1998
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Exhibit Index
Exhibit Page
99.1 Computational Materials filed on Form
SE dated December 15, 1998.
<PAGE>
IN ACCORDANCE WITH RULE 202 OF REGULATION S-T, THESE COMPUTATIONAL
MATERIALS ARE BEING FILED IN PAPER.
EXHIBIT 99.1
COMPUTATIONAL MATERIALS
for
FINANCIAL ASSET SECURITIES CORP.
C-BASS Trust, 1998-3,
Asset-Back Certificates, Series 1998-3
FILED ON FORM SE, DATED DECEMBER 15, 1998.
<PAGE>
BROWN & WOOD LLP
One World Trade Center
New York, New York 10048
Telephone: (212) 839-5300
Facsimile: (212) 839-5599
December 15, 1998
BY MODEM
Securities and Exchange Commission
Judiciary Plaza
450 Fifth Street, N.W.
Washington, D.C. 20549
Re: Financial Asset Securities Corp.,
C-BASS Trust 1998-3,
Asset-Backed Pass-Through Certificates, Series 1998-3
Ladies and Gentlemen:
On behalf of Financial Asset Securities Corp. (the "Company"), we
enclose herewith for filing, pursuant to the Securities and Exchange Act of
1934, the Company's Current Report on Form 8-K, for Computational Materials in
connection with the above-referenced transaction.
Very truly yours,
/s/ Amy Sunshine
Amy Sunshine
Enclosure
