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): September 7, 1995



                       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
                 September 7, 1995.

                                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 and
                                        Controller



Date:  September 7, 1995


                            INDEX TO EXHIBITS


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

      1             Press Release of Lomas Financial                5
                    Corporation dated September 7, 1995

EX-99

                                                              Exhibit 1





News Release
- -------------------

SITRICK AND COMPANY, INC.              Contact:   Michael Sitrick
   LOS ANGELES/NEW YORK                           Sandi Sternberg
                                                  Sitrick And Company
                                                  (310) 788-2850


For Immediate Release
- ---------------------

   Lomas Sells Certain Assets of Mortgage Company To First Nationwide
         For $100 Million and Assumption of Certain Liabilities


    Dallas, Texas -- September 7, 1995 -- Lomas Financial
Corporation (NYSE:LFC) today announced that its mortgage banking
subsidiary, Lomas Mortgage USA, Inc., has reached an agreement to
sell certain assets to First Nationwide Mortgage Corporation, a
subsidiary of First Nationwide Bank.

    The assets being acquired include Lomas' GNMA servicing rights,
which represent approximately one-third of Lomas Mortgage's
servicing portfolio, and its loan production business, including
approximately $313 million principal amount of mortgage loans held
for sale.

    The purchase price is $100 million in cash and the assumption
of certain liabilities, including approximately $302 million of
indebtedness secured by mortgage loans held for sale that are being
acquired by First Nationwide.  The purchase price is subject to
balance sheet and other adjustments.

    The closing of the acquisition, presently scheduled for early
October, is subject to GNMA's approval of the servicing transfer to
First Nationwide, among other conditions.

    Lomas said it is continuing to review various options with
regard to the remainder of the company.

                                   ###



1875 Century Park East, Suite 950
Los Angeles, CA  90067
(310) 788-2850   Fax: (310) 788-2855