<PAGE> 1
===========================================================================
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 20549
----------------
FORM 8-K/A
CURRENT REPORT PURSUANT TO SECTION 13 OR 15(D)
OF THE SECURITIES EXCHANGE ACT OF 1934
------------------------
APRIL 3O, 1997
Date of report (Date of earliest event reported)
------------------------
Commission File Number: 0-18108
------------------------
FINET HOLDINGS CORPORATION
(Exact name of registrant as specified in its charter)
DELAWARE
(State or jurisdiction of
incorporation or organization)
3021 CITRUS CIRCLE
WALNUT CREEK, CA 94598
(Address of principal executive office)
94-3115180
(IRS Employer Identification Number)
Telephone Number: (415) 658-4150
(Registrant's telephone number, including area code)
(Former name, former address and former fiscal year, if changed since last
report)
Indicate by check mark whether the registrant has (1) filed all reports
required to be filed by Section 13 or 15(d) of the Securities Act of 1934
during the preceding 12 months (or for such shorter period that the registrant
was required to file such reports) ( ), and (2) has been subject to filing
requirements within the past 90 days (X).
============================================================================
<PAGE> 2
ITEM 4. CHANGE IN CERTIFYING ACCOUNTANT
The response of Deloitte & Touche to Item 4 of the Form 8-K of Finet Holdings
Corporation Dated April 10, 1997 and the Form 8-K/A of Finet Holdings
Corporation of April 24, 1997 is included herein as Exhibit 16.
<PAGE> 3
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.
FINET HOLDINGS CORPORATION
<TABLE>
<S> <C>
Date: May 8, 1997 /s/ L. DANIEL RAWITCH
------------------------------------
L. DANIEL RAWITCH
(CEO AND PRINCIPAL EXECUTIVE OFFICER)
Date: May 8, 1997 /s/ JAN C. HOEFFEL
------------------------------------
JAN C. HOEFFEL
(PRESIDENT AND PRINCIPAL FINANCIAL OFFICER)
</TABLE>
<PAGE> 1
DELOITTE TOUCHE LLP
50 Fremont Street
San Francisco,CA 94105
April 30 1997
Securities and Exchange Commission
Mail Stop 9-5
450 5th Street, N.W.
Washington, D.C. 20549
Dear Sirs/Madams:
Re: Form 8-K of Finet Holdings Corporation Dated April 10, 1997
We have read the comments in Item 4 of Form 8-K of Finet Holdings Corporation
("Finet" or the "Registrant") dated April 10, 1997 and have the following
responses:
Paragraph 1: We are not in a position to agree or disagree with the
information in the first paragraph.
Paragraph 2: We disagree with the statement contained in the second
paragraph. The Registrant was the legal acquiror of Monument Mortgage, Inc.
("Monument"). Accordingly, there has been no change in the Registrant's
independent auditor. Reuben E. Price & Co., the independent accountant of the
Registrant prior to the Monument acquisition, remained the independent
accountant of the Registrant after the acquisition. At no time did an auditor-
client relationship exist between Deloitte & Touche LLP ("D & T") and the
Registrant.
Paragraph 3: We disagree with the statement that "Subsequently, on March 17,
1997, the client-auditor relationship between the Registrant and Deloitte &
Touche LLP voluntarily ceased." At no time did an auditor-client relationship
exist between D & T and the Registrant. Reuben E. Price & Co., the
independent accountant of the Registrant prior to the Monument acquisition,
remained the independent accountant of the Registrant after the acquisition.
Accordingly, we do not agree that "Reuben E. Price & Co. was reengaged as the
Registrant's principal independent accountant."
Paragraph 4: We are not in a position to agree or disagree with the portion
of the paragraph that indicates that "During the two most recent years there
were no disagreements between Reuben E. Price & Co. and Finet...on any matters
of accounting practice or principles, financial statement disclosure or
auditing scope or procedure." We advise that during the two most recent
fiscal year, and the period through March 17, 1997, there have been no
disagreements between D & T and Monument on any matter of accounting
principles or practices, financial statement disclosure, or auditing scope or
procedures which disagreement, if not resolved to D & T's satisfaction would
have caused us to make reference in connection with our reports, to the
subject matter of disagreement. In addition, D & T's reports on Monument's
financial statements for such fiscal periods contained no adverse opinion or
disclaimers of opinion nor were such reports qualified or modified as to
uncertainly, audit scope or accounting principles.
<PAGE> 2
Re: Form 8-K/A of Finet Holdings Corporation Dated April 24, 1997.
We have read the comments in Item 4 of Form 8-K/A of Finet Holdings
Corporation dated April 24, 1997 and have the following responses:
Item 4.1 BACKGROUND
Paragraph 1 - We are not in a position to agree or disagree with the
information in the first paragraph.
Paragraph 2 - We agree with the statement in the first sentence of the second
paragraph. We are not in a position to agree or disagree with the remainder
of the second paragraph.
Item 4.2 AMENDMENT
Paragraph 1 through 5 - We agree with the information in paragraph 1 through
5.
Yours truly,
/s/ Deloitte & Touche
Deloitte & Touche LLP
