________________________________________________________________________________
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): June 17, 1998
LEHMAN ABS CORPORATION, (as depositor under the Pooling and
Servicing Agreement, dated as of June 1, 1998, which forms
Ocwen Mortgage Loan Trust 1998-OFS2).
LEHMAN ABS CORPORATION
-----------------------------------------------------------------
(Exact name of registrant as specified in its charter)
Delaware 333-39649 13-3447441
- ---------------------------- ------------ -------------------
(State or Other Jurisdiction (Commission (I.R.S. Employer
of Incorporation) File Number) Identification No.)
Three World Financial Center
200 Vesey Street
New York, New York 10022
- ---------------------------- ----------------
(Address of Principal (Zip Code)
Executive Offices)
Registrant's telephone number, including area code (212) 526-7000
----- --------
________________________________________________________________________________
Item 5. Other Events.
- ---- ------------
Filing of Derived Materials.*
- ---------------------------
In connection with the offering of the Mortgage Loan Asset Backed
Certificates, Series 1998-OFS2 (the "Certificates") Lehman Brothers Inc., as
underwriter of the Certificates (the "Underwriter"), has prepared certain
materials (the "Derived Materials") for distribution to its 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 in reliance on a
continuing hardship exemption.
For purposes of this Form 8-K, Derived Materials shall mean computer
generated tables and/or charts displaying, with respect to the Notes, 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.
Pursuant to Rule 424(b) under the Securities Act of 1933, concurrently
with, or subsequent to, the filing of this Current Report on Form 8-K ("the Form
8-K"), Lehman ABS Corporation (the "Company") is filing a prospectus and
prospectus supplement with the Securities and Exchange Commission in relation to
its Ocwen Mortgage Loan Trust 1998-OFS2.
______________
* Capitalized terms used and not otherwise defined herein shall have the
meanings assigned to them in the Prospectus and the Prospectus Supplement of
Lehman ABS Corporation, relating to its Ocwen Mortgage Loan Trust 1998-OFS2.
Item 7. Financial Statements, Pro Forma Financial
- ---- -----------------------------------------
Information and Exhibits.
------------------------
(a) Not applicable.
(b) Not applicable.
(c) Exhibits:
99.1 Derived Materials
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.
LEHMAN ABS CORPORATION
By: /s/ Samir A. Tabet
-------------------------------
Name: Samir A. Tabet
Title: Senior Vice President
Dated: June 17, 1998
Exhibit Index
-------------
Exhibit Page
- ------- ----
99.1 Derived Materials ...............................................6
Exhibit 99.1
In accordance with Rule 202 of Regulation S-T, the Computational Materials
are being filed on paper pursuant to Form SE pursuant to a continuing hardship
exemption.
