<PAGE> 1
FORM 3
INITIAL STATEMENT OF BENEFICIAL OWNERSHIP
1. Name of Reporting Person: Richard E. Wilkes
Address of Reporting Person: 505 Sansome Street, #1420
San Francisco, CA 94111
2. Date of Event Requiring Statement 11/24/98
3. Social Security # (Voluntary):
4. Issuer Name and Trading Symbol: Finet Holdings Corporation: FNHC
5. Relationship of Reporting Person: Director
6. If Amendment, Date of Original:
7. Reporting By: One Reporting Person
<TABLE>
Table I Non-Derivative Securities Beneficially Owned
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- ----------
<CAPTION>
1 2 3 4
- -------- ------------ --------- ---------
Title Amount Ownership Nature of
of Beneficially Form Indirect
Security Owned D/I Ownership
- -------- ------------ --------- ---------
<S> <C> <C> <C>
Common 0
</table
<PAGE> 2
</TABLE>
<TABLE>
Table II Derivative Securities (D/S) Beneficially Owned
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- ---------------------
<CAPTION>
1 2 3 4 5 6
- ------ --------------------- --------------- -------- ------ ---------
Title Date Date Title/Number Exercise Owner Type of
of Exercisable Expires Underlying Price ship (I)
D/S M/D/Y M/D/Y Securities of D/S D/I Ownership
- ------ ----------- -------- ------ ------- -------- ------ ---------
<S> <C> <C> <C> <C> <C> <C> <C>
Option 11/24/99 11/24/03 Common 40,000 $0.6375 D
<FN>
<F1>
Non-employee director options vest at the rate of 25% per year based on
continuing service.
</FN>
</TABLE>
/s/ Richard E. Wilkes 12/08/98
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Signature of reporting person Date
