SECURITIES AND EXCHANGE COMMISSION 
 
                             Washington D.C. 20549 
 
                                   Form 10-K 
 
 Annual report pursuant to Section 13 or 15(d) of the Securities and Exchange
         Act of 1934 (Fee Required)  For fiscal year ended 12/31/1997 
 
                    Commission file number: 333-29381-04 
                                        
                Cityscape Home Loan Owner Trust 
    (AS DEPOSITOR UNDER THE TRUST AGREEMENT DATED AS JUNE 2, 1997, 
        PROVIDING FOR THE ISSUANCE OF TRUST CERTIFICATES SERIES 1997-4 
-----------------------------------------------------------------------------
 
            (Exact name of registrant as specified in its charter) 
 
                 Delaware                             None 
                 --------                  ----------------------------- 
         (State or Other Jurisdiction           (I.R.S. Employer      
            of Incorporation                 Identification Number) 
 
                      	600 Steamboat Road 
                     Greenwich, Connecticut  06830 
                      ---------------------------------- 
                       (Address of Principal (Zip Code) 
                        Executive Offices)           ` 
 
                 Registrant's telephone number:(203) 625-2700 
 
          Securities registered pursuant to Section 12(b) of the Act: 
                                        
                                     None 
                                        
          Securities registered pursuant to Section 12(g) of the Act: 
                                        
                                     None 
                                        
Indicate whether the Registrant: (1) has filed all reports required to be filed
by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the 
preceding 12 months (or for such shorter period that the registrant was 
required to file such reports), and (2) has been subject to such filing 
requirements for the past 90 days. 
                            _X_ YES         ___ no 
                                        
                                        
 
Item 1. Business: 
 
       Not applicable 
 
 
Item 2. Properties: 
 
       Not applicable 
 
 
Item 3. Legal Proceedings: 
 
       None 
 
 
Item 4. Submission of Matters to a Vote of Security-Holders 
 
       None 
 
 
Item 5. Market for Registrant's Common Equity and Related Stockholder Matters 
 
       To the best knowledge of the registrant there is no established public 
       trading market for the certificates. 
 
       There are approximately 15 holders of record as of the end of the 
       reporting year. 
 
 
Item 6.Selected Financial Data 
 
       Not applicable 
 
 
Item 7.Management's Discussion and Analysis of Financial Condition and Results
       of Operations 
 
       Not applicable 
 
 
Item 8. Financial Statements and Supplementary Data 
 
       Not applicable 
 
 
Item 9. Changes in and Disagreements With Accountants on Accounting and 
       Financial Disclosure 
 
       None 
 
 
Item 10.    Directors and Executive Officers of the Registrant 
 
       Not applicable 
 
 
Item 11.    Executive Compensation 
 
       Not applicable 
 
 
Item 12.    Security Ownership of Certain Beneficial Owners and Management 
 
       Not applicable 
 
 
Item 13.    Certain Relationships and Related Transactions 
 
       Not applicable 
 
 
Item 14.    Exhibits, Financial Statement Schedules, and Reports on Form 8-K 
 
       The company filed on Form 8-K, separately for each distribution date, 
       the distribution of funds related to the trust for each distribution
       date in 1997 beginning with October 1997 through December 1997.
 
 
Signatures 
 
     Pursuant to the requirements of Section 13 or 15(d) 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. 
 
Date: 01/30/98 
 
Financial Asset Securities Corp by U.S. Bank National Association fka 
First Trust National Association, as Trustee for Cityscape Home Loan  
Owner Trust 1997-4, Home Loan Asset Backed Notes Series 1997-4. 
 
By:    /s/ Lynn Steiner 
   -------------------------------------- 
Name:    Lynn Steiner
Title:   Vice President 
Company: U.S. Bank National Association fka First Trust National Association