UNITED STATES
                     SECURITIES AND EXCHANGE COMMISSION
                            WASHINGTON, D.C. 20549

                                  FORM 10-K


  (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, 2007

      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: 333-130961-38

      Soundview Home Loan Trust 2007-1
      (exact name of issuing entity as specified in its charter)

      Financial Asset Securities Corp. (depositor)
      (exact name of the registrant as specified in its charter)

      Greenwich Capital Financial Products, Inc.
      (exact name of the sponsor as specified in its charter)



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



  600 Steamboat Road
   Greenwich, CT                                06830
  (Address of principal executive             (Zip Code)
  offices)


 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:

    NONE.



  Indicate by check mark if the registrant is a well-known seasoned issuer, as
  defined in Rule 405 of the Securities Act.

    Yes ___     No  X



  Indicate by check mark if the registrant is not required to file reports
  pursuant to Section 13 or Section 15(d) of the Act.

    Yes ___     No  X



  Note - Checking the box above will not relieve any registrant required to
  file reports pursuant to Section 13 or 15(d) of the Exchange Act from their
  obligations under those Sections.


  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 (Section 229.405 of this chapter) 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.

    Not applicable.



  Indicate by check mark whether the registrant is a large accelerated filer,
  an accelerated filer, a non-accelerated filer, or a smaller reporting
  company.  See the definitions of "large accelerated filer", "accelerated
  filer" and "smaller reporting company" in Rule 12b-2 of the Exchange Act.

   Large accelerated filer ___
   Accelerated filer ___
   Non-accelerated filer X (Do not check if a smaller reporting company)
   Smaller reporting company ___

  Indicate by check mark whether the registrant is a shell company (as defined
  in Rule 12b-2 of the Act).

    Yes ___     No  X



  State the aggregate market value of the voting and non-voting common equity
  held by non-affiliates computed by reference to the price at which the
  common equity was last sold, or the average bid and asked price of such
  common equity, as of the last business day of the registrant's most recently
  completed second fiscal quarter.

    Not applicable.



  Indicate by check mark whether the registrant has filed all documents and
  reports required to be filed by Section 12, 13 or 15(d) of the Securities
  Exchange Act of 1934 subsequent to the distribution of securities under a
  plan confirmed by a court.

    Not applicable.



  Indicate the number of shares outstanding of each of the registrant's
  classes of common stock, as of the latest practicable date.

    Not applicable.



  DOCUMENTS INCORPORATED BY REFERENCE

  List hereunder the following documents if incorporated by reference and the
  Part of the Form 10-K (e.g., Part I, Part II, etc.) into which the document
  is incorporated: (1)Any annual report to security holders; (2) Any proxy or
  information statement; and (3)Any prospectus filed pursuant to Rule 424(b)
  or (c) under the Securities Act of 1933. The listed documents should be
  clearly described for identification purposes (e.g., annual report to
  security holders for fiscal year ended December 24, 1980).

    Not applicable.





                                     PART I

  Item 1.      Business.

               Omitted.


  Item 1A.     Risk Factors.

               Omitted.


  Item 1B.     Unresolved Staff Comments.

               Omitted.


  Item 2.      Properties.

               Omitted.


  Item 3.      Legal Proceedings.

               Omitted.


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

               Omitted.




                                     PART II

  Item 5.      Market for Registrant's Common Equity, Related Stockholder
               Matters and Issuer Purchases of Equity Securities.

               Omitted.


  Item 6.      Selected Financial Data.

               Omitted.


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

               Omitted.


  Item 7A.     Quantitative and Qualitative Disclosures About Market Risk.

               Omitted.


  Item 8.      Financial Statements and Supplementary Data.

               Omitted.


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

               Omitted.


  Item 9A.     Controls and Procedures.

               Omitted.


  Item 9A(T).  Controls and Procedures.

               Omitted.


  Item 9B.     Other Information.

               None.




                                    PART III

  Item 10.     Directors, Executive Officers and Corporate Governance.

               Omitted.


  Item 11.     Executive Compensation.

               Omitted.


  Item 12.     Security Ownership of Certain Beneficial Owners and Management
               and Related Stockholder Matters.

               Omitted.


  Item 13.     Certain Relationships and Related Transactions, and Director
               Independence.

               Omitted.


  Item 14.     Principal Accounting Fees and Services.

               Omitted.




  ADDITIONAL DISCLOSURE ITEMS PURSUANT TO GENERAL INSTRUCTION J


Item 1112(b) of Regulation AB, Significant Obligor Financial Information.

No single obligor represents 10% or more of the pool assets held by the issuing
entity.



Item 1114(b)(2) of Regulation AB, Significant Enhancement  Provider Financial
Information.

No entity or group of affiliated entities provides any external credit
enhancement or other support for the certificates within this transaction as
described under Item 1114 (a) of Regulation AB.



Item 1115(b) of Regulation AB, Certain Derivatives Instruments (Financial
Information).

Bear Stearns Financial Products Inc. provides an interest rate swap agreement
and basis risk cap agreement for the trust as disclosed in the 424 Prospectus.
No additional disclosure is necessary because the aggregate significance
percentage for the interest rate swap agreement and basis risk cap agreement is
less than 10%.



Item 1117 of Regulation AB, Legal Proceedings.

Legal Proceedings Relating to Ocwen Loan Servicing, LLC ("Ocwen")

Ocwen, as successor in interest to Ocwen Federal Bank, and Ocwen Financial
Corporation are defendants in several potential class action lawsuits
challenging Ocwen's mortgage servicing practices. To date, no such lawsuit
has been certified by any court as a class action. On April 13, 2004, these
lawsuits were consolidated in a single proceeding in the United States
District Court for the District of Illinois under caption styled: Ocwen
Federal Bank FSB Mortgage Servicing Litigation, MDL Docket No. 1604. Ocwen
believes that its servicing practices comply with legal requirements and is
vigorously defending against such lawsuits. Ocwen is also subject to various
other routine pending litigation in the ordinary course of its business.
While the outcome of litigation is always uncertain, Ocwen's management is of
the opinion that the resolution of any of these claims and lawsuits will not
have a material adverse effect on the results of its operations or financial
condition or its ability to service the mortgage loans.

On February 9, 2006, a trial court in Galveston, Texas entered judgment in
the amount of $1.8 million in compensatory and statutory damages and
attorneys' fees against Ocwen in favor of a plaintiff borrower whose mortgage
loan was serviced by Ocwen. The plaintiff brought the claims under the Texas
Deceptive Trade Practices Act and other state statutes and common law
generally alleging that Ocwen engaged in improper loan servicing practices.
Ocwen believes that the judgment is against the weight of evidence and
contrary to law and that the attorneys' fees award, which comprises $1.1
million of the judgment should be reduced as impermissibly excessive. Ocwen
appealed the decision and will continue to vigorously defend this matter.

On September 13, 2006, a complaint was filed in the United States Bankruptcy
Court in Delaware against Ocwen and other parties by the Chapter 7 Trustee of
American Business Financial Services, Inc. and its subsidiaries
(collectively, "ABFS") alleging various improper activities and conduct that
have harmed ABFS. Claims against Ocwen include damages resulting from
improperly servicing mortgage loans included in ABFS-sponsored
securitizations and from actions relating to the acquisition of servicing
rights from ABFS on those securitizations. Ocwen believes the claims made by
ABFS are without merit and intends to vigorously defend the matter.

The litigation which had an initial judgment against Ocwen rendered on
February 9, 2006, in a trial court in Galveston, Texas concluded with a final
settlement on January 16, 2008. There are no further updates to the
disclosure of legal proceedings previously provided in the prospectus



Item 1119 of Regulation AB, Affiliations and Certain Relationships and Related
Transactions.

Bear Stearns Financial Products Inc.:

     On March 16, 2008, JPMorgan Chase & Co. ("JPMorgan Chase") announced
     that it had entered into an Agreement and Plan of Merger, dated March
     16, 2008 (the "Agreement and Plan of Merger"), and subsequently amended
     by Amendment No. 1 to the Agreement and Plan of Merger, dated as of
     March 24, 2008 (such amendment, together with the Agreement and Plan of
     Merger, the "Merger Agreement"), with The Bear Stearns Companies Inc.,
     the parent company of Bear Stearns Financial Products Inc. The Merger
     Agreement provides that, upon the terms and subject to the conditions
     set forth in Merger Agreement, a wholly-owned subsidiary of JPMorgan
     Chase will merge with and into The Bear Stearns Companies Inc. with The
     Bear Stearns Companies Inc. continuing as the surviving corporation and
     as a wholly-owned subsidiary of JPMorgan Chase. The Merger Agreement has
     been approved by the Boards of Directors of The Bear Stearns Companies
     Inc. and JPMorgan Chase and is subject to customary closing conditions,
     including stockholder approval. The Federal Reserve, the Office of the
     Comptroller of the Currency and other federal agencies have given all
     necessary approvals for the merger. The merger is expected to be
     completed by the end of the second calendar year quarter of 2008,
     however there can be no assurance that the merger will close as
     contemplated.

     In connection with the Merger Agreement, JPMorgan Chase issued an
     Amended and Restated Guaranty Agreement, effective as of March 16, 2008
     (the "Guaranty"), guaranteeing the obligations and liabilities of The
     Bear Stearns Companies Inc. and certain of its affiliates, including
     Bear Stearns Financial Products Inc.'s obligations under the interest
     rate swap agreement and basis risk cap agreement. A copy of the Guaranty
     is filed as Exhibit 99.1 to this Form 10-K. Except with respect to the
     addition of this Guaranty, the terms and conditions of the interest
     rate swap agreement and basis risk cap agreement remain unchanged.

     JPMorgan Chase is a financial holding company incorporated under
     Delaware law, whose principal office is located in New York, New York.
     JPMorgan Chase services include investment banking, financial services
     for consumers, small business and commercial banking, financial
     transaction processing, asset management, and private equity. A
     component of the Dow Jones Industrial Average, JPMorgan Chase serves
     millions of consumers in the United States and many of the world's
     corporate, institutional and government clients under its JPMorgan and
     Chase brands. Information about JPMorgan Chase is available at
     www.jpmorganchase.com.


Item 1122 of Regulation AB, Compliance with Applicable Servicing Criteria.

The reports on assessment of compliance with the servicing criteria for
asset-backed securities and the related attestation reports on such assessments
of compliance are attached hereto under Item 15.

Assurant, Inc. disclosed the following material noncompliance with the
servicing criteria set forth in Item 1122(d)(4)(xii) of Regulation AB
applicable to the Company during the year ended December 31, 2007. As required
by Item 1122(d)(4)(xii) of Regulation AB, any late payment penalties in
connection with any payment to be made on behalf of an obligor are paid from
the servicer's funds are not charged to the obligor, unless the late payment
was due to the obligor's error or omission. Assurant, Inc. did not have, during
the Reporting Period, sufficient policies and procedures to capture the
information with respect to the Platform Transactions necessary to determine
compliance with 1122(d)(4)(xii).

Central Mortgage Company (the "Company") has reported an instance of material
non-compliance with the servicing criteria set forth in 1122(d)(4)(x)(B) of
Regulation AB applicable to the Company during the year ended December 31, 2007.
Item 1122(d)(4)(x)(B) requires that regarding any funds held in trust for an
obligor (such as escrow accounts): (B) interest on such funds is paid, or
credited, to obligors in accordance with applicable mortgage loan documents and
state laws. It was noted that in 4 states; Oregon, Wisconsin, Maine and New
Hampshire; that the interest rate used to credit interest to obligor(s)' trust
funds was inaccurate. Additional monitoring of the states' published interest
rates has been implemented with additional emphasis on the effective change
date and accuracy.



Item 1123 of Regulation AB, Servicer Compliance Statement.

The servicer compliance statements are attached hereto under Item 15.



                               Part IV

  Item 15. Exhibits, Financial Statement Schedules.

  (a) Exhibits.

  (4.1) Pooling and Servicing Agreement, dated as of February 1, 2007, by and
  among Financial Asset Securities Corp. as Depositor, Ocwen Loan Servicing,
  LLC as Servicer, Wells Fargo Bank, N.A. as Master Servicer and Trust
  Administrator and Deutsche Bank National Trust Company as Trustee, relating
  to the Series 2007-1 Certificates, originally filed on Form 8-K on March 22,
  2007 and incorporated by reference herein.

  (10.1) Incorporated by reference as Exhibit (4.1).

  (31) Rule 13a-14(d)/15d-14(d) Certification.

  (33) Reports on assessment of compliance with servicing criteria for
  asset-backed securities.


    <TABLE>
    
      <c>

    33.1 Assurant, Inc. as Sub-Contractor for Ocwen Loan Servicing, LLC
    33.2 Central Mortgage Company as Servicer
    33.3 Deutsche Bank National Trust Company as Custodian
    33.4 First American Real Estate Solutions of Texas, L.P. as Sub-Contractor for Ocwen
    Loan Servicing, LLC
    33.5 LandAmerica Tax and Flood Services, Inc. as Sub-Contractor for Central Mortgage
    Company
    33.6 Ocwen Loan Servicing, LLC as Servicer
    33.7 Regulus Group LLC as Sub-Contractor for Ocwen Loan Servicing, LLC
    33.8 The Bank of New York Trust Company, National Association as Custodian
    33.9 Wells Fargo Bank, N.A. as Master Servicer and Trust Administrator

    </TABLE>


  (34) Attestation reports on assessment of compliance with servicing criteria
  for asset-backed securities.


    <TABLE>
    
      <c>

    34.1 Assurant, Inc. as Sub-Contractor for Ocwen Loan Servicing, LLC
    34.2 Central Mortgage Company as Servicer
    34.3 Deutsche Bank National Trust Company as Custodian
    34.4 First American Real Estate Solutions of Texas, L.P. as Sub-Contractor for Ocwen
    Loan Servicing, LLC
    34.5 LandAmerica Tax and Flood Services, Inc. as Sub-Contractor for Central Mortgage
    Company
    34.6 Ocwen Loan Servicing, LLC as Servicer
    34.7 Regulus Group LLC as Sub-Contractor for Ocwen Loan Servicing, LLC
    34.8 The Bank of New York Trust Company, National Association as Custodian
    34.9 Wells Fargo Bank, N.A. as Master Servicer and Trust Administrator

    </TABLE>


   (35) Servicer compliance statement.


    <TABLE>
    
       <c>

    35.1 Central Mortgage Company as Servicer
    35.2 Ocwen Loan Servicing, LLC as Servicer
    35.3 Wells Fargo Bank, N.A. as Master Servicer and Trust Administrator

    </TABLE>


   (99.1) Amended and Restated Guaranty Agreement of JPMorgan Chase & Co.
   effective as of March 16, 2008.

   (b) Exhibits identified in paragraph (a) above.

   (c) Omitted.



                          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.


   Soundview Home Loan Trust 2007-1
   (Issuing Entity)

   Wells Fargo Bank, N.A.
   (Master Servicer)

   /s/ Molly Yackel
   Molly Yackel, Vice President
   (Senior officer in charge of the servicing function of the master
   servicer)


    Date:   March 28, 2008



  Exhibit Index

  Exhibit No.


   (4.1) Pooling and Servicing Agreement, dated as of February 1, 2007, by and
   among Financial Asset Securities Corp. as Depositor, Ocwen Loan Servicing,
   LLC as Servicer, Wells Fargo Bank, N.A. as Master Servicer and Trust
   Administrator and Deutsche Bank National Trust Company as Trustee, relating
   to the Series 2007-1 Certificates, originally filed on Form 8-K on March 22,
    2007 and incorporated by reference herein.

   (10.1) Incorporated by reference as Exhibit (4.1).

   (31) Rule 13a-14(d)/15d-14(d) Certification.

   (33) Reports on assessment of compliance with servicing criteria for
   asset-backed securities.


    <TABLE>

    
      <c>
    33.1 Assurant, Inc. as Sub-Contractor for Ocwen Loan Servicing, LLC
    33.2 Central Mortgage Company as Servicer
    33.3 Deutsche Bank National Trust Company as Custodian
    33.4 First American Real Estate Solutions of Texas, L.P. as Sub-Contractor for Ocwen
    Loan Servicing, LLC
    33.5 LandAmerica Tax and Flood Services, Inc. as Sub-Contractor for Central Mortgage
    Company
    33.6 Ocwen Loan Servicing, LLC as Servicer
    33.7 Regulus Group LLC as Sub-Contractor for Ocwen Loan Servicing, LLC
    33.8 The Bank of New York Trust Company, National Association as Custodian
    33.9 Wells Fargo Bank, N.A. as Master Servicer and Trust Administrator

    </TABLE>

   (34) Attestation reports on assessment of compliance with servicing
   criteria for asset-backed securities.


    <TABLE>

    
      <c>
    34.1 Assurant, Inc. as Sub-Contractor for Ocwen Loan Servicing, LLC
    34.2 Central Mortgage Company as Servicer
    34.3 Deutsche Bank National Trust Company as Custodian
    34.4 First American Real Estate Solutions of Texas, L.P. as Sub-Contractor for Ocwen
    Loan Servicing, LLC
    34.5 LandAmerica Tax and Flood Services, Inc. as Sub-Contractor for Central Mortgage
    Company
    34.6 Ocwen Loan Servicing, LLC as Servicer
    34.7 Regulus Group LLC as Sub-Contractor for Ocwen Loan Servicing, LLC
    34.8 The Bank of New York Trust Company, National Association as Custodian
    34.9 Wells Fargo Bank, N.A. as Master Servicer and Trust Administrator

    </TABLE>

   (35) Servicer compliance statement.


    <TABLE>

    
       <c>
    35.1 Central Mortgage Company as Servicer
    35.2 Ocwen Loan Servicing, LLC as Servicer
    35.3 Wells Fargo Bank, N.A. as Master Servicer and Trust Administrator

    </TABLE>

   (99.1) Amended and Restated Guaranty Agreement of JPMorgan Chase & Co.
   effective as of March 16, 2008.