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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
Date of Report (Date of earliest event reported) November 21, 1997
SOUTHERN PACIFIC SECURED ASSETS CORP. (as seller under a Pooling and Servicing
Agreement dated as of December 1, 1997 providing for, inter alia, the issuance
of Mortgage Loan Asset-Backed Pass-Through Certificates, Series 1997-4)
SOUTHERN PACIFIC SECURED ASSETS CORP.
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(Exact name of registrant as specified in its charter)
CALIFORNIA 333-39039 33-0659688
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(State or Other Jurisdiction (Commission (I.R.S. Employer
of Incorporation) File Number) Identification No.)
One Centerpointe Drive, Suite 500
Suite 500
Lake Oswego, Oregon 97035
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(Address of Principal (Zip Code)
Executive Offices)
Registrant's telephone number, including area code, is (503) 684-4700
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Item 7. FINANCIAL STATEMENTS, PRO FORMA FINANCIAL INFORMATION AND EXHIBITS.
(a) Not applicable
(b) Not applicable
(c) Exhibits:
23.3. Consent of Coopers & Lybrand L.L.P., independent auditors of the
Certificate Insurer with respect to Mortgage Loan Asset-Backed Pass-Through
Certificates, Series 1997-4, Class A-1, Class A-2, Class A-3, Class A-4, Class
A-5, Class A-6 and Class A-7 Certificates.
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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.
SOUTHERN PACIFIC SECURED ASSETS
CORP.
By: /s/ James L. Smith
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Name: James L. Smith
Title: Director
Dated: December 5, 1997
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CONSENT OF INDEPENDENT ACCOUNTANTS
We consent to the incorporation by reference in this Prospectus
Supplement of our report dated February 3, 1997, on our audits of the
consolidated financial statements of MBIA Insurance Corporation and Subsidiaries
as of December 31, 1996 and 1995 and for each of the three years in the period
ended December 31, 1996. We also consent to the reference to our firm under the
caption "Experts".
Coopers & Lybrand L.L.P.
December 4, 1997
New York, New York
