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): May 25, 1996
BEAR STEARNS ASSET BACKED SECURITIES INC.
Champion Home Equity Loan Trust 1996-1
(Exact name of registrant as specified in its charter)
Delaware 33-93574 13-3836437
(State or other juris- (Commission (IRS Employer
diction of incorporation) File Number) Identification No.)
245 Park Avenue, New York, New York 10167
(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code: (212) 272-2000
Not Applicable
(Former name or former address, if changed since last report.)
Item 5. Other Events.
A distribution was made to the Certificateholders of the Bear
Stearns Asset Backed Securities,Inc. Champion Home Equity Loan
Trust 1996-1, on May 25, 1996. The distribution was made pursuant
to the provisions of a Pooling and Servicing Agreement dated
February 14, 1996, between and among Bear Stearns Asset Backed
Securities Inc., as Depositor, Champion Mortgage Servicing Corp.,
as Servicer, and Bank of New York, as Trustee.
Item 7. Financial Statements and Exhibits.
(c) Exhibits:
(28.3) May 25, 1996 - Information on Distribution to
Certificateholders
SIGNATURE
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.
Bear Stearns Asset Backed Securities, Inc.
(Registrant)
Date: June 6, 1996 By: /S/William J. Montgoris
William J. Montgoris
Treasurer and Secretary
BEAR STEARNS ASSET BACKED SECURITIES INC.
FORM 8-K
CURRENT REPORT
Exhibit Index
Exhibit No. Description
(28.3) May 25, 1996 - Information on
Distribution to Certificateholders
<TABLE>
MAY 25, 1996 - INFORMATION ON DISTRIBUTION EXHIBIT 28.3
TO CERTIFICATEHOLDERS
Bear Stearns Asset Backed Securities Inc.
Champion Home Equity Loan Trust 1996-1
<CAPTION>
Principal Amt
Original Outstanding Ending
Certificate Principal Prior to Interest Interest Interest Principal Principal Amount
Class Amount Distribution Rate Accrued Distributed Payable Outstanding
<S> <C> <C> <C> <C> <C> <C> <C>
A-1 $ 23,827,000 $ 22,162,299 5.750% $106,194 $106,194 $ 796,257 $21,366,042
A-2 36,173,000 36,173,000 6.330% 190,813 190,813 0 36,173,000
A-3 40,000,000 39,506,651 var.rate 196,435 196,435 253,479 39,253,172
I 0 0 var.rate 79,742 79,742 0 0
$100,000,000 $97,841,951 $573,184 $573,184 $1,049,736 $96,792,215
</TABLE>
