SECURITIES AND EXCHANGE COMMISSION
                                          Washington, D.C.  20549

                                                    FORM 10-K



                                    Pursuant to Section 13 or 15(d) of the
                                        Securities Exchange Act of 1934


(Mark One)
[ x ] Annual Report Pursuant to Section 13 or 15(d) of the Securities
      Exchange Act of 1934
      For the fiscal year ended DECEMBER 31, 1999
_______________________________      or

[    ] Transition Report Pursuant to Section 13 or 15d of the Securities
                  Exchange Act of 1934
For the transition period from _____________  to ________

Commission file Number 333-84929

                Financial Asset Securities Corp.
(Exact name of registrant as specified in its charter)

         Delaware                                      06-1442101
(State or other jurisdiction                        (I.R.S. Employer
of incorporation or organization)                    Identification No.)

600 Steamboat Road
Greenwich, Connecticut                                                06830

(Address of Principal Executive Offices)                             (Zip Code)

Registrant's telephone number, including area code:           (203) 625-2700

                Securities registered pursuant to Section 12(b) of the Act
                      NONE
                Securities registered pursuant to Section 12(g) of the Act

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 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


                                                     PART I

Item 2.  Properties
                Not applicable on reliance of Relief Letters

Item 3. Legal Proceedings
                   There were no legal proceedings.

Item 4. Submission of Matters to a Vote of Security Holders
                   There were no matters submitted to a vote of the Security
Holders.

                                    PART II

Item 5. Market for Registrant's Common Equity and Related Stockholder matters
                There were 24 participants in the DTC system holding
                positions in the Cede certificates.
                The following were Noteholders and Certificateholders of record
                as of the end of the reporting year.
                New Century Home Equity Loan Trust,
                Asset-Backed Pass-Through Certificates:

                Series 1999-NCA Class A-1           Cede & Co.
                Series 1999-NCA Class A-2           Cede & Co.
                Series 1999-NCA Class A-3           Cede & Co.
                Series 1999-NCA Class A-4           Cede & Co.
                Series 1999-NCA Class A-5           Cede & Co.
                Series 1999-NCA Class A-6           Cede & Co.
                Series 1999-NCA Class A-7           Cede & Co.
                Series 1999-NCA Class A-8IO         Cede & Co.




                There is no established public trading market for the notes.

Item 9. Changes in and Disagreements with Accountants on Accounting and
Financial Disclosures:      Information required by Item 304 of Reg. S-K.

       There were no changes in and/or disagreements with Accountants on
       Accounting and Financial Disclosures.

                                    PART IV

Item 12.  Security Ownership of Certain Beneficial Owners and Management
    The Notes are represented by one or more notes registered in the name of
    of Cede & Co., the nominee of The Depository Trust Company.  An investor
    holding Notes is not entitled to receive a certificate representing such
    Note, except in limited circumstances.  Accordingly, Cede & Co. is the
    sole holder of Notes, which it holds on behalf of brokers, dealers,
    banks and other participants in the DTC system.  Such participants may
    hold Notes for their own accounts or for the accounts of their customers.
                The address of Cede & Co. is:
                Cede & Co.
                c/o The Depository Trust Company
                Seven Hanover Square
                New York, New York 10004

Item 13.  Certain Relationships and Related Transactions.
   There has not been, and there is not currently proposed, any transactions
   or series or transactions, to which any of the Trust, the Registrant,
   the Trustee or the Servicer is a party with any Noteholder who, to the
   knowledge of the Registrant and Servicer, owns of record or beneficially
          more than five percent of the Notes.


Item 14. Exhibits, Financial Statement Schedules, and Reports on Form 8-K

                (a) 1.  Not Applicable
                    2.  Not Applicable
                    3.  Exhibits
                         99.1  Annual Summary Statement
                         99.2  Annual Statement as to Compliance.
                         99.3  Annual Independent Public
                                    Accountant's Servicing Report.

                (b)   Reports on Form 8-K
        The Registrant has filed Current Reports on Form 8-K
        with the Securities and Exchange Commision dated
        July 31, 1999; August 31, 1999; September 30, 1999; October 31, 1999;
        November 30, 1999; December 31, 1999


                (c)    See (a) 3 above

                (d)    Not Applicable



                                    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.

New Century Home Equity Loan Trust


                /s/ Eve Kaplan
                    Vice President
                    U.S. Bank National Association


Date            March 28, 2000


                                    EXHIBIT INDEX

                Exhibit Number      Description
                         99.1       Annual Summary Statement
                         99.2       Annual Statement of Compliance
                         99.3       Report of Independent Accountants




       EXHIBIT 99.1 -- Summary of Aggregate Amounts or End of Year
       Amounts for the period ending December 31, 1999

             New Century Home Equity Loan Trust
             Asset-Backed Pass-Through Certificates, SERIES 1999-NCA
               Summary of Aggregate Amounts or End of Year Amounts

                Pool Balance                             307482687.8
                Principal           Collections          17451753.85
                Realized Loss                               11696.72
                Interest            Collections          18644741.15
                Servicer            Fees                   768591.95
                Trustee             Fees                    15212.01
                Insurer             Premium              283895.9102

                Rolling Delinquency Percentage             0.0255624


                Delinquency Report              Number  Stated Principal Bal
                30-59 days                        62      4251459.71
                60-89 days                        26      2719287.11
                90+ days                          72      6975048.75
                Foreclosures                      68      6797398.90
                Bankruptcies                      24      1866659.11
                REO Properties                     3       218179.21


Certificate                Balance         Interest        Principal

Class A-1                79593070.02      2555269.56     16406929.98
Class A-2                49991804.47      1669771.88         8195.53
Class A-3                44992624.02      1520792.25         7375.98
Class A-4                49991804.47      1804753.43         8195.53
Class A-5                22262350.36       840426.70         3649.64
Class A-6                22996230.05       817538.30         3769.95
Class A-7                36558871.50      1384606.60      2175128.50
Class A-8IO              24996230.05       241845.55            0.00



       EXHIBIT 99.2 -- Servicer's Annual Statement of Compliance
                To be supplied upon receipt by the Trustee

       EXHIBIT 99.3 -- Report of Independent Auditors
                To be supplied upon receipt by the Trustee