SECURITIES AND EXCHANGE COMMISSION


                             Washington, D.C. 20549


                                    FORM 10-K

[X]      Annual  report  pursuant  to  Section  13 or  15(d)  of the  Securities
         Exchange Act of 1934 for the period from August 31, 1996  (Commencement
         of Operations) to December 31, 1996

[ ]      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 - 333-91148

         PRUDENTIAL  SECURITIES  SECURED  FINANCING  CORPORATION,  (as depositor
         under the Pooling and Servicing Agreement, dated August 31, 1996, which
         forms  ABFS  Mortgage  Loan  Trust  1996-2,  which  will issue the ABFS
         Mortgage Loan Trust 1996-2, Mortgage Pass-through Certificates,  Series
         1996-2).

               PRUDENTIAL SECURITIES SECURED FINANCING CORPORATION
             (Exact name of registrant as specified in its charter)

           Delaware                                       13-3526694
(State or other jurisdiction of                          (I.R.S.  Employer
incorporation or organization)                         Identification No.)

  One New York Plaza
   New York, New York                                          10292
  (Address of principal executive offices)                  (Zip Code)

Registrant's telephone number, including area code : (212) 214-7435

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

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 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. Yes [X] No [ ]

Indicate by check mark if  disclosure  of delinquent  filers  pursuant to Item 
405 of Regulation  S-K is not contained herein,  and  will not be  contained, 
to the best of  registrant's  knowledge,  in  definitive  proxy or  information
statements incorporated by reference in Part III of this Form 10-K or any 
amendment to this Form 10-K.  [X]

                                   Page 1 of 8
            This report consists of 12 consecutively numbered pages.


<PAGE>


LEHMAN ABS CORPORATION
----------------------

TABLE OF CONTENTS                                                         Page
PART I
  Item  1. Business.........................................................3

  Item  2. Properties.......................................................3

  Item  3. Legal Proceedings................................................3

  Item  4. Submission of Matters to a Vote of Security Holders..............3

PART II
  Item  5. Market for Registrant's Common Equity and Related 
           Stockholder Matters..............................................3

  Item  6. Selected Financial Data..........................................3

  Item  7. Management's Discussion and Analysis of Financial 
           Condition and Results of Operations..............................4

  Item  8. Financial Statements and Supplementary Data......................4

  Item  9. Changes in and Disagreements with Accountants on 
           Accounting and Financial Disclosure..............................4

PART III
  Item 10. Directors and Executive Officers of the Registrant...............4

  Item 11. Executive Compensation...........................................4

  Item 12. Security Ownership of Certain Beneficial Owners 
           and Management...................................................4

  Item 13. Certain Relationships and Related Transactions...................4

PART IV
  Item 14. Exhibits, Financial Statement Schedules and Reports
           on Form 8-K......................................................4

SIGNATURE...................................................................6

Supplemental Information to be Furnished with Reports Filed 
Pursuant to  Section 15(d) of the Act by Registrants Which 
Have Not Registered Securities Pursuant to Section 12 of the Act............7

INDEX TO EXHIBITS...........................................................8


<PAGE>


This  Annual  Report on Form 10-K is filed in  accordance  with the May 20, 1994
Kidder,  Peabody  No-Action  Letter and the February 17, 1995 Public  Securities
Association  No-Action  Letter sent to the Office of Chief Counsel,  Division of
Corporate Finance of the Securities and Exchange  Commission (the  "Commission")
requesting  that the Commission  enter an order pursuant to Section 12(h) of the
Securities Exchange Act of 1934 (the "Exchange Act"), granting exemption for the
Trust  from the  reporting  requirements  of  Section  13 and 15(d) and from the
operation of Section 16 of the Exchange Act, or issue a no action letter to like
effect.  Accordingly,  responses  to  certain  Items have been  omitted  from or
modified in this Annual Report on Form 10-K.


PART I


Item 1.  Business

Omitted.

Item 2.  Properties

Omitted.

Item 3.  Legal Proceedings

The Registrant is not aware of any material legal  proceeding  with respect to a
Pool,  the Trustee,  the Servicer or  Prudential  Securities  Secured  Financing
Corporation  with  respect to a Pool,  other than  ordinary  routine  litigation
incidental  to the duties of the Trustee or Servicer  under the related  Pooling
and Servicing Agreement.

Item 4.  Submission of Matters to a Vote of Security Holders

No matter was  submitted to a vote or consent of  Certificateholders  during the
fiscal year covered by this report.


PART II

Item 5.  Market for Registrant's Common Equity and Related Stockholder Matters

The Trust does not issue  stock.  There is currently  no  established  secondary
market  for  the   Certificates.   As  of   January  2,  1997,   there  were 
sixteen Certificateholders.

Item 6.  Selected Financial Data

Omitted.


<PAGE>


Item 7.  Management's Discussion and Analysis of Financial condition and 
         Results of Operations

Omitted.

Item 8.  Financial Statements and Supplementary Data

Omitted.

Item 9.  Changes in and Disagreements with Accountants on Accounting 
         and Financial Disclosure

There was no change of  accountants  or  disagreement  with  accountants  on any
matter of accounting principles or practices or financial disclosure.


PART III

Item 10. Directors and Executive Officers of the Registrant

Omitted.

Item 11. Executive Compensation

Omitted.

Item 12. Security Ownership of Certain Beneficial Owners and Management

Omitted.

Item 13. Certain Relationships and Related Transactions

Omitted.


PART IV

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

(a)      The following documents are filed as part of this report:

         (1)  Financial Statements:

              Omitted.


<PAGE>


         (2)  Financial Statement Schedules:

              Omitted.

         (3)  Exhibits:

              Related  Computational  Materials  dated  September  1996 for ABFS
              Mortgage Loan Trust,  Series 1996-2  (incorporated by reference to
              Exhibit 99.1 to Current Report on Form 8-K dated September 1996).

              Annual Statement of Compliance, filed as Exhibit 99.1 hereto.

              Annual Servicing Report, filed as Exhibit 99.2 hereto.

(b)      Reports on Form 8-K:  The following Current Reports on Form 
         8-K were filed by the Registrant.

              A Current  Report on Form 8-K,  dated March 6, 1997, was filed for
              the purpose of filing the Monthly Certificateholder Statements, as
              Exhibits  99.1 through 99.5 for payments made on October 15, 1996,
              November  15,  1996,  December  15,  1996,  January  15,  1997 and
              February  15,  1997,  respectively.  The  items  reported  in such
              Current Report were Item 5 (Other Events).

(c)      Exhibits to this report are listed in Item (14)(a)(3) above.




<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.

                                                CHASE MANHATTAN BANK
                                                (SUCCESSOR BY MERGER OF THE
                                                CHASE MANHATTAN BANK, N.A.),
                                                AS TRUSTEE, FOR
                                                ABFS MORTGAGE LOAN TRUST 1996-2


Date:  March 27, 1997                        By:        
                                                  Ron Feldman
                                                  Vice President




<PAGE>


SUPPLEMENTAL  INFORMATION TO BE FURNISHED WITH REPORTS FILED PURSUANT TO SECTION
15(D) OF THE ACT BY REGISTRANTS WHICH HAVE NOT REGISTERED SECURITIES PURSUANT TO
SECTION 12 OF THE ACT.

The  registrant  has not sent an annual report or proxy material to its security
holders.  The registrant  will not be sending an annual report or proxy material
to its security holders subsequent to the filing of this form.



<PAGE>


INDEX TO EXHIBITS


Exhibit
Number           Description of Exhibits                                   Page


   4.1   Related Computational Materials dated September 1996               *
         for ABFS Mortgage Loan Trust Mortgage Pass-through
         Certificates,  Series 1996-2 (incorporated by reference to
         Exhibit 1 to Current Report on Form 8-K dated September
         1996).

  99.1   Annual Statement of Compliance                                     9

  99.2   Annual Servicing Report                                           11






















* Incorporated by reference.


<PAGE>



                                  EXHIBIT 99.1


                         ANNUAL STATEMENT OF COMPLIANCE


<PAGE>



In  accordance  with the  No-Action  letters dated May 20, 1994 and February 17,
1995 sent to the Securities and Exchange Commission requesting an exemption from
SEC reporting requirements,  the Trust is to include as an exhibit a copy of the
Annual  Statement  of  Compliance  required  under  the  Pooling  and  Servicing
Agreement dated August 31, 1996. Such statement,  as required under Section 5.22
of the Pooling and Servicing Agreement,  is due on or before the last day of the
fifth month  following  the end of the  Servicer's  fiscal year  (December  31),
beginning  in 1997.  Since there is no  requirement  for the current  year,  the
statement is not included as an exhibit to this Form 10-K.




<PAGE>



                                  EXHIBIT 99.2


                             ANNUAL SERVICING REPORT


<PAGE>









In  accordance  with the  No-Action  letters dated May 20, 1994 and February 17,
1995 sent to the Securities and Exchange Commission requesting an exemption from
SEC reporting requirements,  the Trust is to include as an exhibit a copy of the
Annual Servicing Report required under the Pooling and Servicing Agreement dated
August 31, 1996. Such  statement,  as required under Section 5.22 of the Pooling
and  Servicing  Agreement,  is due on or before the last day of the fifth  month
following the end of the  Servicer's  fiscal year  (December  31),  beginning in
1997.  Since there is no requirement  for the current year, the statement is not
included as an exhibit to this Form 10-K.

<PAGE>