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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
BEAR STEARNS ASSET BACKED SECURITIES, INC
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(Exact name of registrant as specified in its charter)
Delaware 333-26051 13-3836437
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(State or Other Jurisdiction (Commission (I.R.S. Employer
of Incorporation) File Number) Identification No.)
245 Park Avenue
New York, New York 10167
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(Address of Principal (Zip Code)
Executive Offices)
Registrant's telephone number, including area code (212) 272-2000
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Item 5. Other Events.
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Filing of Computational Materials.*
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In connection with the offering of the Master Financial Asset Backed
Securities, Series 1997-1 (the "Securities"), Bear, Stearns & Co. Inc.,
PaineWebber Incorporated and Residential Funding Securities Corporation as
underwriters of the Securities (the "Underwriters"), has prepared certain
materials (the "Computational Materials") for distribution to its potential
investors. Although the Company provided the Underwriters with certain
information regarding the characteristics of the Loans in the related
portfolio, it did not participate in the preparation of the Computational
Materials. Concurrently with the filing hereof, pursuant to Rule 311 of
Regulation S-T, the Registrant is filing the Computational Materials by paper
filing on Form SE.
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*Capitalized terms used and not otherwise defined herein shall have the
meanings assigned to them in the Prospectus dated September 16, 1997, and the
Prospectus Supplement dated November 21, 1997 of Bear Stearns Asset Backed
Securities, Inc., relating to its Master Financial Asset Securitization Trust
1997-1.
For purposes of this Form 8-K, Computational Materials shall mean
computer generated tables and/or charts displaying, with respect to the
Certificates, any of the following: yield; average life, duration; expected
maturity; interest rate sensitivity; loss sensitivity; cash flow
characteristics; background information regarding the Loans; the proposed
structure; decrement tables; or similar information (tabular or otherwise) of
a statistical, mathematical, tabular or computational nature. The
Computational Materials are attached hereto as Exhibit 99.1.
Item 7. Financial Statements, Pro Forma Financial
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Information and Exhibits.
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(a) Not applicable.
(b) Not applicable.
(c) Exhibits:
99.1 Computational Materials.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
BEAR STEARNS ASSET BACKED
SECURITIES, INC.
By:
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Matthew Perkins
Managing Director
Dated: November 21, 1997
Exhibit Index
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Exhibit Page
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99.1 The Computational Materials. 6
Exhibit 99.1
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In accordance with Rule 311 of Regulation S-T, the Computational
Materials are being filed on paper pursuant to Form SE.
