-------------------------------------------------

                      SECURITIES AND EXCHANGE COMMISSION

                            Washington, D.C. 20549

                                   FORM 8-K

                                CURRENT REPORT

                    PURSUANT TO SECTION 13 OR 15(d) OF THE
                      SECURITIES AND EXCHANGE ACT OF 1934


               Date of Report (Date of earliest event reported)
                                 June 9, 1999


                             ACE Securities Corp.
            ------------------------------------------------------
            (Exact Name of Registrant as Specified in its Charter)



          Delaware                 333-56213             56-2088493
- ----------------------------      ------------       -------------------
(State or Other Jurisdiction      (Commission        (I.R.S. Employer
      Of Incorporation)           File Number)       Identification No.)



  6707 Fairview Road, Suite D
   Charlotte, North Carolina                               28210
  ---------------------------                            ----------
     (Address of Principal                               (Zip Code)
       Executive Offices)


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


                                   No Change
         -------------------------------------------------------------
         (Former Name or Former Address, if Changed Since Last Report)





Item 5.  Other Events.
         ------------

     Filed concurrently herewith under Form SE are certain materials (the
"Collateral Term Sheets") furnished to the Registrant by Deutsche Bank
Securities Inc. (the "Underwriter") in respect of ACE Securities Corp. Home
Equity Loan Trust 1999-LB1 Home Equity Loan Pass-Through Certificates (the
"Certificates"). If the Certificates are publicly offered, they will be
offered pursuant to a prospectus, as supplemented by a related prospectus
supplement (together, the "Prospectus"), which will be filed with the
Commission pursuant to Rule 424(b) under the Securities Act of 1933, as
amended (the "Act"), subsequent to the filing of this Current Report. The
Certificates, if issued and publicly offered, would be registered pursuant to
the Act under the Registrant's Registration Statement on Form S-3 (No.
333-56213) (the "Registration Statement"). The Registrant hereby incorporates
the Collateral Term Sheets by reference in the Registration Statement solely
with respect to the Certificates, subject to the issuance and public offering
of the Certificates.

     The Collateral Term Sheets were prepared solely by the Underwriter, and
the Registrant did not prepare or participate (other than providing the
background information concerning the underlying pool of assets upon which the
Collateral Term Sheets are based to the Underwriter) in the preparation of the
Collateral Term Sheets.

     Any statement or information contained in the Collateral Term Sheets
shall be deemed to be modified or superseded for purposes of the Prospectus
and the Registration Statement by statements or information contained in any
subsequently filed Collateral Term Sheets with respect to the Certificates,
and the statements and information contained in all such Collateral Term
Sheets shall be deemed to be modified or superseded for purposes of the
Prospectus and the Registration Statement by the Prospectus.





Item 7.  Financial Statements; PRO FORMA Financial Information and Exhibits.
         ------------------------------------------------------------------

     (a)   Not applicable.

     (b)   Not applicable.

     (c)   Exhibits:

           99.2      Collateral Term Sheets
                     filed on Form SE dated June 9, 1999.





                                  SIGNATURES

     Pursuant to the requirements of the Securities Exchange Act of 1934, the
Registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.

                                   ACE SECURITIES CORP.



                                   By:  /s/ Elizabeth Eldridge
                                      -------------------------------------
                                      Name:  Elizabeth Eldridge
                                      Title:  Vice President



Dated:  June 11, 1999





                                 EXHIBIT INDEX
                                 -------------

Exhibit No.               Description                           Page No.
- -----------               -----------                           --------

99.2                      Collateral Term Sheets                    P





                    EXHIBIT 99.2 COLLATERAL TERM SHEETS (P)

                     [To be filed on Form SE pursuant to a
                        continuing hardship exemption]