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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) November 17, 1999
FINANCIAL ASSET SECURITIES CORP., (as depositor under the Pooling and
Servicing Agreement, dated as of November 1, 1998, which forms the
trust, which will issue the C-BASS Mortgage Loan Asset-Backed
Certificates, Series 1999-CB5).
FINANCIAL ASSET SECURITIES CORP.
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(Exact name of registrant as specified in its charter)
Delaware 333-84929 06-1442101
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(State or Other Jurisdiction (Commission (I.R.S. Employer
of Incorporation) File Number) Identification No.)
600 Steamboat Road
Greenwich, Connecticut 06830
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(Address of Principal (Zip Code)
Executive Offices)
Registrant's telephone number, including area code (203) 625-2700
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<PAGE>
Item 5. Other Events.
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Filing of Derived Materials.
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In connection with the offering of the C-BASS Mortgage Loan
Asset-Backed Certificates, Series 1999-CB5 (the "Certificates"). Greenwich
Capital Markets, Inc., as underwriter of the Certificates (the "GCM"), has
prepared certain materials (the "GCM Derived Materials") for distribution to
its potential investors. Similarly, First Union Securities, Inc. ("First
Union"), as underwriter of the Certificates, has prepared certain materials
(the "First Union Derived Materials") for distribution to its potential
investors. Although the Registrant provided GCM and First Union with certain
information regarding the characteristics of the assets in the related
portfolio, it did not participate in the preparation of the GCM Derived
Materials nor the First Union 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.
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(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
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99.1 GCM Derived Materials filed on Form
SE dated November 17, 1999.
99.2 First Union Derived Materials filed
on Form SE dated November 17, 1999.
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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
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Name: John Graham
Title: Vice President
Dated: November 22, 1999
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Exhibit Index
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Exhibit Page
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99.1 Derived Materials filed
on Form SE dated November 17, 1999.
99.2 Derived Materials filed
on Form SE dated November 17, 1999.
<PAGE>
IN ACCORDANCE WITH RULE 202 OF REGULATION S-T, THESE COMPUTATIONAL
MATERIALS ARE BEING FILED IN PAPER.
EXHIBIT 99.1
GCM DERIVED MATERIALS
for
FINANCIAL ASSET SECURITIES CORP.
C-BASS Mortgage Loan Asset-Backed Certificates, Series 1999-CB5
FILED ON FORM SE, DATED NOVEMBER 17, 1999.
<PAGE>
IN ACCORDANCE WITH RULE 202 OF REGULATION S-T, THESE COMPUTATIONAL
MATERIALS ARE BEING FILED IN PAPER.
EXHIBIT 99.2
FIRST UNION DERIVED MATERIALS
for
FINANCIAL ASSET SECURITIES CORP.
C-BASS Mortgage Loan Asset-Backed Certificates, Series 1999-CB5
FILED ON FORM SE, DATED NOVEMBER 17, 1999.
<PAGE>
BROWN & WOOD LLP
One World Trade Center
New York, New York 10048
Telephone: (212) 839-5300
Facsimile: (212) 839-5599
November 22, 1999
BY MODEM
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Securities and Exchange Commission
Judiciary Plaza
450 Fifth Street, N.W.
Washington, D.C. 20549
Re: Financial Asset Securities Corp.,
C-BASS Mortgage Loan Asset-Backed Certificates
Series 1999-CB5
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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
