SECURITIES AND EXCHANGE COMMISSION
                             Washington, D.C. 20549


                                    Form l0-Q


  [X]        QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE
             SECURITIES EXCHANGE ACT OF 1934


                 For the quarterly period ended May 26, 2000

                                       or

  [ ]        TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE
             SECURITIES EXCHANGE ACT OF 1934

                For the transition period from _________ to _________


                         Commission file number 33-93574

                   Bear Stearns Asset Backed Securities, Inc.
             (Exact name of registrant as specified in its charter)

              Delaware                               13-3836437
   (State or other jurisdiction of        (I.R.S. Employer Identification No.)
    incorporation or organization)

                                 245 Park Avenue
                            New York, New York 10167
                                 (212) 272-2000
               (Address, including Zip Code, and Telephone Number,
        including Area Code, of Registrant's Principal Executive Offices)


Indicate by check mark 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  twelve 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. Yes X  No

THE REGISTRANT MEETS THE CONDITIONS SET FORTH IN GENERAL INSTRUCTION H(1)(a) AND
(b) OF FORM 10-Q AND  THEREFORE IS FILING THIS FORM WITH THE REDUCED  DISCLOSURE
FORMAT CONTEMPLATED THEREBY.


<PAGE>



                   BEAR STEARNS ASSET BACKED SECURITIES, INC.

                                      INDEX



Part I.         FINANCIAL INFORMATION


Item 1.         Financial Statements

                  Statements of Financial Condition (Unaudited) at May 26, 2000
                    and November 26, 1999.
                  Statements   of   Operations   (Unaudited)   for  the
                      three-months  ended May 26,  2000 and May 28, 1999 and for
                      the six-months ended May 26, 2000 and May 28, 1999.
                  Statements of Cash Flows  (Unaudited) for the six-months ended
                       May 26, 2000 and May 28, 1999.
                  Notes to Financial Statements (Unaudited)

Item 2.           Management's Discussion and Analysis of Financial Condition
                  and Results of Operations

Part II.          OTHER INFORMATION

Item 1.           Legal Proceedings

Item 6.           Exhibits and Reports on Form 8-K

                  Signature


<PAGE>

<TABLE>


                                  BEAR STEARNS ASSET BACKED SECURITIES, INC.
                                       STATEMENTS OF FINANCIAL CONDITION
                                                  (UNAUDITED)

<CAPTION>
                                                                                May 26,                   November 26,
                                                                                 2000                         1999
                                                                           -----------------            -----------------
<S>                                                                             <C>                           <C>
Assets
     Receivable from affiliates                                                   $  31,647                    $  31,678
     Deferred costs                                                                 578,918                      761,265
                                                                           -----------------            -----------------
          Total Assets                                                            $ 610,565                    $ 792,943
                                                                           =================            =================

Liabilities
     Payable to affiliate                                                         $ 579,141                    $ 757,661
                                                                           -----------------            -----------------
          Total Liabilities                                                         579,141                      757,661

Stockholder's Equity
     Common stock, $1,000 par value;
     100 shares authorized, 1 share issued and
     outstanding;                                                                     1,000                        1,000
     Retained earnings                                                               30,424                       34,282
                                                                           -----------------            -----------------
          Total Stockholder's Equity                                                 31,424                       35,282
                                                                           -----------------            -----------------
          Total Liabilities and Stockholder's Equity                              $ 610,565                    $ 792,943
                                                                           =================            =================


See Notes to Financial Statements.



</TABLE>

<PAGE>

<TABLE>


                                    BEAR STEARNS ASSET BACKED SECURITIES, INC.
                                             STATEMENTS OF OPERATIONS
                                                   (UNAUDITED)

<CAPTION>

                                                       Three-Months Ended                        Six-Months Ended
                                              -------------------------------------    -------------------------------------
<S>                                            <C>                    <C>               <C>                   <C>
                                                 May 26,               May 28,            May 26,               May 28,
                                                  2000                   1999              2000                   1999
                                              --------------        ---------------    --------------        ---------------

Expenses                                            $ 3,422                $ 2,390           $ 6,800                $ 5,372
                                              --------------        ---------------    --------------        ---------------
Loss before income tax benefit                        3,422                  2,390             6,800                  5,372
Income tax benefit                                   (1,481)                (1,041)           (2,942)                (2,338)
                                              --------------        ---------------    --------------        ---------------

Net loss                                            $ 1,941                $ 1,349           $ 3,858                $ 3,034
                                              ==============        ===============    ==============        ===============


See Notes to Financial Statements.



</TABLE>


<PAGE>


<TABLE>


                             BEAR STEARNS ASSET BACKED SECURITIES, INC.
                                      STATEMENTS OF CASH FLOWS
                                             (UNAUDITED)

<CAPTION>
                                                                      Six-Months Ended
                                                           ----------------------------------------

                                                               May 26,                   May 28,
                                                                2000                       1999
<S>                                                         <C>                      <C>
                                                          --------------             -------------
CASH FLOWS FROM OPERATING ACTIVITIES
Net loss                                                      $  3,858                  $  3,034
Decrease in deferred costs                                     182,347                   255,752
                                                          --------------             -------------
Cash provided by operating activities                          178,489                   252,718
                                                          --------------             -------------

CASH FLOWS FROM FINANCING ACTIVITIES
Decrease in payable to affiliate                              (178,520)                 (252,718)
Decrease in receivable from affiliates                              31                         -
                                                          --------------             -------------
Cash used in financing activities                             (178,489)                 (252,718)
                                                          --------------             -------------
CASH AND CASH EQUIVALENTS,
   BEGINNING OF YEAR                                                -                         -
                                                          --------------             -------------
CASH AND CASH EQUIVALENTS,
   END OF YEAR                                                $     -                   $     -
                                                          ==============             =============


See Notes to Financial Statements.


</TABLE>
<PAGE>




                   BEAR STEARNS ASSET BACKED SECURITIES, INC.
                          NOTES TO FINANCIAL STATEMENTS
                                   (Unaudited)


Note 1.         Organization and Basis of Presentation

Bear Stearns Asset Backed Securities, Inc. (the "Company") was organized by, and
is a direct wholly owned limited purpose finance subsidiary of, The Bear Stearns
Companies  Inc. (the  "Parent").  The Company was  incorporated  in the State of
Delaware on June 2, 1995.

The  Company was formed  solely for the  purpose of issuing  directly or through
trusts  established  by it, in  series,  debt  securities  that are  secured  or
collateralized  by one or more pools of Compound  Interest  Securities,  Planned
Amortization Class ("PAC") Securities, Variable Interest Securities, Zero Coupon
Securities,  Principal Only Securities,  Interest Only Securities,  Participants
Securities, Senior Securities or Subordinate Securities.

The financial  statements  are prepared in conformity  with  generally  accepted
accounting principles which require management to make estimates and assumptions
that affect the amounts  reported in the consolidated  financial  statements and
accompanying notes. Actual results could differ from those estimates.


Note 2.        Deferred Costs

Deferred  costs  represent  fees paid by the Company  related to the filing of a
shelf registration statement for asset-backed  securities.  These deferred costs
are  expensed  as the shelf is utilized by the Company or reduced as these costs
are  reimbursed  to the  Company  when the shelf is utilized  by  affiliates  or
others.


Note 3.        Related Party Transactions

The Company is included in the consolidated federal and combined state and local
income tax  returns  of the  Parent.  Income  taxes are  computed  on a separate
company  basis.  The Company is not  charged,  nor does it receive,  interest on
intercompany balances.


Item 2. Management's  Discussion and Analysis of Financial Condition and Results
of Operations

The Company's  principal business activity is the issuance,  directly or through
trusts  established by it, debt securities that are secured or collateralized by
one or more pools of Compound Interest  Securities,  Planned  Amortization Class
Securities,  Variable Interest Securities,  Principal Only Securities,  Interest
Only  Securities,  Participants  Securities,  Senior  Securities or  Subordinate
Securities.

The Company had a net loss of $1,941 and $1,349 for the  three-months  ended May
26, 2000 and May 28,  1999,  respectively.  The Company had a net loss of $3,858
and $3,034 for the six-months ended May 26, 2000 and May 28, 1999, respectively.

<PAGE>


Part II.   OTHER INFORMATION

Item 1.    Legal Proceedings

           No legal proceedings are pending.

Item 6.    Exhibits and Reports on Form 8-K

               (a)      Exhibits

                        (27) Financial Data Schedule

               (b)      Reports on Form 8-K

                 During the quarter,  the Company  filed the  following  current
                  report on Form 8-K/A:

                    (i) A Current  Report on Form 8-K/A dated and filed on March
                    10, 2000,  pertaining  to the filing of Amendment No. 1 to a
                    Pooling  and   Servicing   Agreement   among  the   Company,
                    Residential  Funding  Corporation  and  Bank  One,  National
                    Association dated November 1, 1999.


<PAGE>



                                    SIGNATURE


         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, on
         the 10th day of July, 2000.


                                   Bear Stearns Asset Backed Securities, Inc.
                                                 (Registrant)


                                   By: /s/ Samuel L. Molinaro Jr.
                                       Samuel L. Molinaro Jr.
                                       Chief Financial Officer