8-K

               SECURITIES AND EXCHANGE COMMISSION
                     Washington, D.C. 20549




                            FORM 8-K
                         CURRENT REPORT
             Pursuant to Section 13 or 15(d) of the
                 Securities Exchange Act of 1934




Date of Report (Date of earliest event reported):  March 22, 1994



                   Lomas Financial Corporation
     ------------------------------------------------------
     (Exact name of registrant as specified in its charter)



      Delaware               1-6868               75-1043392
   (State or other      (Commission File         (IRS Employer
   jurisdiction of           Number)          Identification No.)
   incorporation)



          1600 Viceroy Drive, Dallas, Texas      75235
       ---------------------------------------------------
       (Address of principal executive offices) (Zip Code)


Registrant's telephone number, including area code:  (214) 879-4000


                              None
  -------------------------------------------------------------
  (Former name or former address, if changed since last report)


                   Lomas Financial Corporation

                            Form 8-K


Item 5.   Other Events.

     Pursuant to General Instruction F to Form 8-K, the Registrant
hereby incorporates by reference the press release attached as
Exhibit 1 hereto.

Item 7.   Financial Statements and Exhibits.

     (a)  None.

     (b)  None.

     (c)  Exhibits.

          1.   Press Release of Lomas Financial Corporation dated
               March 22, 1994.



                            SIGNATURE

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

                              LOMAS FINANCIAL CORPORATION
                              (Registrant)



                              By: /S/GARY WHITE
                                  --------------------------------
                                  Gary White
                                  Senior Vice President - Control


Date:  March 23, 1994

                        INDEX TO EXHIBITS


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

     1            Press Release of Lomas Financial          5  
                  Corporation dated March 22, 1994.

EX-99

                                                       Exhibit 1



FOR IMMEDIATE RELEASE                        Contacts:  Bert Byerley
                                                        214/879-5588
                                                        Gary White  
                                                        214/879-5540



     DALLAS--March 22, 1994--Lomas Financial Corporation (NYSE: LFC)
today stated that it has retained Salomon Brothers Inc to assist Lomas
in evaluating strategic alternatives to maximize stockholder values.
The Company is considering various options, including the possibility
of merging with or being acquired by another institution. Salomon's
engagement was primarily in response to several recent expressions of
interest by third parties.
     Jess Hay, chairman and chief executive officer of Lomas, said,
"Although the board of directors believes that Lomas has excellent
potential for creating value for its stockholders as an independent
company, we feel the current situation in our industry provides unique
additional possibilities for growth. While Lomas has demonstrated that
it is capable of maintaining the size of its portfolio in the face of
unprecedented high prepayment rates, it nevertheless is true that with
additional capital resources our mortgage and computer businesses
would flourish, thereby potentially increasing value for our
stockholders and concurrently serving the best interests of our
operating businesses, our customers and our employees. What we are
doing is making sure that all such possibilities are explored."
     Mr. Hay continued, "We have built an outstanding organization,
with some of the finest people and systems in our industry. Regardless
of which direction we ultimately take, we are very optimistic about
Lomas' future, particularly as the mortgage banking industry appears
to be moving toward a more stable environment in terms of portfolio
runoff rates and mortgage refinancings."

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