SECURITIES AND EXCHANGE COMMISSION
                             Washington, D.C.  20549

                                    FORM 10-K/A

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

                             For the fiscal year ended
                                 December 31, 1999

                        Commission file number:  333-56213-01

                               ACE SECURITIES CORP.
          (as Depositor under the Pooling and Servicing Agreement, dated
          as of June 1, 1999, providing for the issuance of Ace Securities
          Corp. Home Equity Loan Pass-Through Certificates, Series 1999-LB1.

                ACE SECURITIES CORP. HOME EQUITY LOAN TRUST 1999-LB1
            HOME EQUITY LOAN PASS-THROUGH CERTIFICATES, SERIES 1999-LB1.
            (Exact name of Registrant as specified in its Charter)

           DELAWARE                                    56-2088493
           (State or other jurisdiction                (I.R.S. Employer
           incorporation or organization)              Identification Number)

           6525 MORRISON BOULEVARD, SUITE 318
           CHARLOTTE, NORTH CAROLINA                   28211
           (Address of principal executive offices)    (Zip Code)

            Registrant's telephone number, including area code:
                               (704) 365-0569

          Securities registered pursuant to Section 12(b) of the Act:
                               NOT APPLICABLE.

          Securities registered pursuant to Section 12(g) of the Act:
                               NOT APPLICABLE.

     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 the Registrant's knowledge, in definitive proxy
     or information statements incorporated by reference in Part III of the
     Form 10-K or any amendment to this Form 10-K.  [  ].

     Aggregate market value of voting stock held by non-affiliates of the
     Registrant as of December 31, 1999:  NOT APPLICABLE.

     Number of shares of common stock outstanding as of December 31, 1999:
     NOT APPLICABLE.


     ITEM 8.  Financial Statements and Supplementary Data.

     Annual Statement of Compliance by Long Beach Mortgage Company dated April
     14, 2000.

     Independent Accountant's Report by Deloitte and Touche LLP dated February
     22, 2000.





     PART IV

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

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

     EXHIBITS

     Annual Statement of Compliance by Long Beach Mortgage Company dated April
     14, 2000.

     Independent Accountant's Report by Deloitte and Touche LLP dated February
     22, 2000.


                                     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.

                             By:  Bankers Trust Company not in its individual
                                  capacity but solely as a duly authorized
                                  agent of the Registrant pursuant to the
                                  Pooling and Servicing Agreement, dated as of
                                  June 1, 1999.


                                  By:  /s/Judy L. Gomez
                                  Judy L. Gomez
                                  Assistant Vice President

     Date:  August 11, 2000


     EXHIBIT INDEX

     Exhibit Document

     1.1  Annual Statement of Compliance by Long Beach Mortgage Company dated
          April 14, 2000.

     1.2  Independent Accountant's Report by Deloitte and Touche LLP dated
          February 22, 2000.

























Long Beach Mortgage Company


OFFICER'S CERTIFICATE

Master Servicer:     Long Beach Mortgage Company
Agreement:           Pooling and Servicing Agreement dated June 1, 1999
Deal:                ACE Securities Corporation
                     Home Equity Loan Trust 1999-LB1
Subject Period:      June 1, 1999 through December 31, 1999
Certificate Date:    April 14, 2000


This certificate is delivered to The Bank of New York, as Trustee pursuant to
Sections 5.16 and 5.17 of the Pooling
and Servicing Agreement dated June 1, 1999 ("the Agreement").

The undersigned officer of Long Beach Mortgage Company (the Company")
represents solely the activities of the Company and does not make any
representations for any other master servicer under the Agreement.

Pursuant to Section 5.16 of the Agreement; The undersigned officer of the
Company has supervised a review of the Company's activities during the
Subject Period with respect to the terms of the Agreement and has determined
the following: (a) to undersigned officer's best knowledge, the Company has
fulfilled its obligations under this Agreement and (b) there has not been a
default in the fulfillment of any obligation under the Agreement.

Pursuant to Section 5.17 of the Agreement;  Attached to this certificate is a
copy of the letter issued to Long Beach Mortgage Company, by Deloitte & Touche
LLP regarding the Company's compliance with the Uniform Single Attestation
Program for Mortgage Bankers for the year ended December 1, 1999.


Long Beach Mortgage Company

By:      /s/ James R. Guerin
Name:    James R. Guerin
Title:   Senior Vice President
         Loan Servicing Division







Deloitte & Touche LLP
Suite 1200
695 Town Center Drive
Costa Mesa, California 92626-1924
Telephone: (714) 436-7100
Facsimile: (714) 436-7200


Deloitte & Touche


INDEPENDENT ACCOUNTANT'S REPORT



The Board of Directors
Long Beach Mortgage Company


We have examined management's assertion about Long Beach Mortgage Company's
compliance with the minimum servicing standards identified in the Mortgage
Bankers Association of America's Uniform Single Attestation Program for
Mortgage Bankers (USAP) as of and for the year ended December 31, 1999,
included in the accompanying management assertion.  Management is responsible
for Long Beach Mortgage Company's compliance with those minimum servicing
standards.  Our responsibility is to express an opinion on management's
assertion about the entity's compliance based on our examination.

Our examination was made in accordance with standards established by the
American Institute of Certified Public Accountants and, accordingly, included
examining, on a test basis, evidence about Long Beach Mortgage Company's
compliance with the minimum servicing standards and performing such other
procedures as we considered necessary in the circumstances.  We believe that
our examination provides a reasonable basis for our opinion.  Our examination
does not provide a legal determination on Long Beach Mortgage Company's
compliance with the minimum servicing standards.

In our opinion, management's assertion that Long Beach Mortgage Company
complied with the aforementioned minimum servicing standards as of and for the
year ended December 31, 1999, is fairly stated, in all material respects.


/s/ Deloitte & Touche LLP

February 22, 2000