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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, as amended
Date of Report (Date of earliest event reported): October 17, 2000
FINANCIAL ASSET SECURITIES CORPORATION
(AS DEPOSITOR UNDER THE POOLING AND SERVICING AGREEMENT,
DATED AS OF OCTOBER 1, 2000, PROVIDING FOR THE ISSUANCE OF
ASSET-BACKED CERTIFICATES, SERIES 2000-FF1)
Financial Asset Securities Corporation
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(Exact name of registrant as specified in its charter)
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Delaware 333-84929 06-1442101
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(State or Other Jurisdiction of (Commission (I.R.S. Employer
Incorporation) File Number) Identification No.)
600 Steamboat Road
Greenwich, Connecticut 92618
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(Address of Principal (Zip Code)
Executive Offices)
Registrant's telephone number, including area code, is (203)625-2700
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Item 5. Other Events
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Description of the Certificates and the Mortgage Pool
As of the date hereof, Financial Asset Securities Corporation (the
"Registrant") has caused to be filed with the Securities and Exchange Commission
(the "Commission") pursuant to the Commission's Rule 424, a Prospectus
Supplement to its Prospectus, dated October 13, 2000, in connection with the
Registrant's issuance of a series of certificates, entitled First Franklin
Mortgage Loan Trust, Asset-Backed Certificates, Series 2000-FF1 (the
"Certificates"), to be issued pursuant to a pooling and servicing agreement,
dated as of October 1, 2000, among the Registrant as depositor, Option One
Mortgage Corporation as master servicer and Wells Fargo Bank Minnesota, N.A. as
trustee. The Certificates designated as the Series 2000-FF1 Certificates will
represent in the aggregate the entire beneficial ownership interest in a trust
fund (the "Trust Fund") consisting primarily of a pool (the "Mortgage Pool") of
conventional, one- to four-family, adjustable rate, first lien mortgage loans
having original terms to maturity up to 30 years (the "Mortgage Loans").
Computational Materials
Greenwich Capital Markets, Inc. (the "Underwriter") has advised the
Registrant that it has furnished to certain prospective purchasers of
Certificates certain materials, herein referred to as "Computational Materials",
in written form, which Computational Materials are in the nature of data tables
and term sheet information relating to the Mortgage Loans or other assets of the
Trust Fund, the structure of the Certificates and terms of certain classes of
Certificates, and the hypothetical characteristics and hypothetical performance
of certain classes of Certificates under certain assumptions and scenarios.
The Computational Materials have been provided by the Underwriter. The
information in the Computational Materials is preliminary and will be superseded
by the Prospectus Supplement relating to the Certificates and by any other
information subsequently filed with the Commission.
The Computational Materials were prepared by the Underwriter at the
request of certain prospective investors. The Computational Materials may be
based on information that differs from the information set forth in the
Prospectus Supplement.
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Item 7. Financial Statements and Exhibits
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(a) Not applicable
(b) Not applicable
(c) Exhibits
Exhibit No. Description
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99.1 Computational Materials (as defined in Item 5)
that have been provided by Greenwich Capital
Markets, Inc. to certain prospective purchasers
of First Franklin Mortgage Loan Trust
Asset-Backed Certificates, Series 2000-FF1
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SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934,
the registrant has duly caused this report to be signed on its behalf by the
undersigned thereunto duly authorized.
Dated: October 17, 2000
FINANCIAL ASSET SECURITIES
CORPORATION
By: /s/ Frank Skibo
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Name: Frank Skibo
Title: Vice President
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Index to Exhibits
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<TABLE>
<CAPTION>
Sequentially
Exhibit No. Description Numbered Page
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<S> <C> <C>
99.1 Computational Materials (as defined in Item 5) P
that have been provided by Banc of America
Securities LLC to certain prospective purchasers
of Option One Mortgage Loan Trust Asset-
Backed Certificates, Series 2000-3
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