<PAGE> 1
FORM 4
STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP
1. Name of Reporting Person: Michael G. Conway
Address of Reporting Person: 3021 Citrus Circle, Suite 150
Walnut Creek, CA 94598
2. Issuer Name and Trading Symbol: Finet Holdings Corporation: FNHC
3. Social Security # (Voluntary):
4. Statement for Month/Year: 2/99
5. If Amendment, Date of Original:
6. Relationship of Reporting Person: Officer
Title: Executive Vice President,
Capital Markets
7. Reporting By: One Reporting Person
<TABLE>
Table I Non-Derivative Securities Acquired, Disposed of, or Beneficially
Owned
- --------------------------------------------------------------------------------
- ----------
<CAPTION>
1 2 3 4 5 6
7
- -------- -------- ------ ----------------------- ------------ ------- ----
- ----------
Title Trans- Trans- Securities Acquired (A) Amount Owner-
Nature of
of action action or Disposed of (D) Beneficially ship
Indirect
Security Date Code ----------------------- Owned at End Form
Ownership
Amount A/D Price of Month D/I
- -------- -------- ------ -------- --- -------- ------------ ------- ----
- ----------
<S> <C> <C> <C> <C> <C> <C> <C> <C>
Common
Stock 2/3/99 J<1> 45,000 D <1> 15,000 D
<FN>
<1>
On February 3, 1999, reporting person and issuer agreed to rescind the grant of
45,000 shares of common stock remaining unvested out of an original grant of
60,000 shares dated October 15, 1998.
</FN>
</table
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</TABLE>
<TABLE>
Table II Derivative Securities (D/S) Acquired, Disposed of, or Beneficially
Owned
- --------------------------------------------------------------------------------
- ----------------------------------------
<CAPTION>
1 2 3 4 5 6 7
8 9 10 11
- ------ ------ -------- ---- ---------------- ------------------- ----------
- ------- ------- --------- ----- -------
Title Conv Trans Tran # D/S Date Expira
Title/Number Price Number Owner Type of
of or Date Code Acquir/Disposd Exercis tion
Underlying of of D/S ship (I)
D/S Exer M/D/Y ---------------- able Date
Securities D/S Owned at of Owner
Price (A) (D) M/D/Y M/D/Y Title
Amount Month end D/I ship
- ------ ------ -------- ---- --------- ------- -------- -------- ------ ---
- ------- ------- --------- ----- -------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
<C> <C> <C> <C>
Employee Stock Option (right Common
to Buy) $ 1.03 2/3/99 A 67,500 <1> 10/15/09 Stock
67,500 67,500 D
<FN>
<1>
Option vests in 4 equal annual installments beginning 10/15/99.
</FN>
</TABLE>
/s/ Michael G. Conway 02/10/99
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Signature of reporting person Date
