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                                 UNITED STATES
                       SECURITIES AND EXCHANGE COMMISSION
                             WASHINGTON D.C. 20549
 
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                               AMENDMENT NO. 1 TO
    
 
                                  FORM 10-Q/A

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      [X]   QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE
            SECURITIES EXCHANGE ACT OF 1934
 
                  FOR THE QUARTERLY PERIOD ENDED JUNE 30, 1998
 
                                       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 1-12889
 
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                        LONG BEACH FINANCIAL CORPORATION
             (EXACT NAME OF REGISTRANT AS SPECIFIED IN ITS CHARTER)
 
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<S>                                            <C>
                   DELAWARE                                      33-0739843
(STATE OR OTHER JURISDICTION OF INCORPORATION                 (I.R.S. EMPLOYER
               OR ORGANIZATION)                             IDENTIFICATION NO.)
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         1100 TOWN & COUNTRY ROAD, SUITE 1650, ORANGE, CALIFORNIA 92868
          (ADDRESS OF PRINCIPAL EXECUTIVE OFFICES INCLUDING ZIP CODE)
    
 
                                 (714) 835-5743
              (REGISTRANT'S TELEPHONE NUMBER INCLUDING AREA CODE)
 
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     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 [ ].
 
   
     As of August 10, 1998, registrant had outstanding 23,662,518 shares of
Common Stock.
    
 
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                                   SIGNATURES
 
     Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on behalf of the undersigned
thereunto duly authorized, in the City of Orange, State of California.
 
LONG BEACH FINANCIAL CORPORATION
(Registrant)
 
   
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<S>                                                            <C>
By: /s/ M. JACK MAYESH                                         August 11, 1998
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    M. Jack Mayesh                                             Date
    Chairman and Chief Executive Officer
 
    /s/ JAMES H. LEONETTI                                      August 11, 1998
    -------------------------------------------------------    -----------------
    James H. Leonetti                                          Date
    Senior Vice President and Chief Financial Officer
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