SUPPLEMENT TO
PROSPECTUS SUPPLEMENT DATED September 28, 1998
(TO PROSPECTUS DATED SEPTEMBER 28, 1998)
$261,648,739
OCWEN MORTGAGE LOAN ASSET BACKED
CERTIFICATES, SERIES 1998-OFS3
$226,326,000 CLASS A VARIABLE PASS-THROUGH RATE
$ 16,353,000 CLASS M-1 VARIABLE PASS-THROUGH RATE
$ 10,465,000 CLASS M-2 VARIABLE PASS-THROUGH RATE
$ 8,504,739 CLASS B VARIABLE PASS-THROUGH RATE
Distributions payable on the 25th day of each month, commencing in October 1998
FINANCIAL ASSET SECURITIES CORP.
Depositor
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LMAC, INC.
Seller
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OCWEN FINANCIAL SERVICES, INC.
Master Servicer
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The Prospectus Supplement dated September 28, 1998 to the Prospectus
dated September 28, 1998 with respect to the above captioned series of
certificates is hereby amended as follows:
Page S-8 and Page S-73:
Clause (iv) under the caption "Ratings" is hereby amended and
restated in its entirety to read as follows:
"(iv) the Class B Certificates be rated "BBB-" by S&P and "BBB"
by DCR."
The date of this Supplement is September 30, 1998
