SECURITIES AND EXCHANGE COMMISSION

                             Washington D.C. 20549

                                   Form 10-K

 Annual report pursuant to Section 13 or 15(d) of the Securities and Exchange
                 Act of 1934 For fiscal year ended 12/31/1999

                    Commission file number: 333-21071-10

                Cityscape Home Loan Owner Trust
    (AS DEPOSITOR UNDER THE TRUST AGREEMENT DATED AS JUNE 2, 1997,
        PROVIDING FOR THE ISSUANCE OF TRUST CERTIFICATES SERIES 1997-3
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            (Exact name of registrant as specified in its charter)

                 Delaware                               None
                 --------                    --------------------------
         (State or Other Jurisdiction           (I.R.S. Employer
            of Incorporation                 Identification Number)

                      	600 Steamboat Road
                     Greenwich, Connecticut  06830
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                      (Address of Principal (Zip Code)
                        Executive Offices)

                 Registrant's telephone number:(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 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.
                            _X_ YES         ___ no



Item 1. Business:

        Not applicable


Item 2. Properties:

        Not applicable


Item 3. Legal Proceedings:

        None


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

        None


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

        To the best knowledge of the registrant there is no established public
        trading market for the certificates.

        There are approximately 30 holders of record as of the end of the
        reporting year.


Item 6. Selected Financial Data

        Not applicable


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

        Not applicable


Item 8. Financial Statements and Supplementary Data

        Not applicable


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

        None


Item 10. Directors and Executive Officers of the Registrant

         Not applicable


Item 11. Executive Compensation

         Not applicable


Item 12. Security Ownership of Certain Beneficial Owners and Management

         Not applicable


Item 13. Certain Relationships and Related Transactions

         Not applicable


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

         None

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.

Date: 1/28/00

Financial Asset Securities Corp by U.S. Bank National Association fka
First Bank National Association, as Trustee for Cityscape Home Loan Owner
Trust 1997-3, Home Loan  Asset Backed Notes and Certificates Series 1997-3.

By:    /s/ Barbara J. Quall
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Name:    Barbara J. Quall
Title:   Vice President
Company: U.S. Bank National Association fka First Bank National Association