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): December 19, 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.)




           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
               December 19, 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 and
                                    Controller



Date:  December 20, 1994


                        INDEX TO EXHIBITS


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

     1            Press Release of Lomas Financial            5
                  Corporation dated December 19, 1994

EX-99

                                                           Exhibit 1





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


            LOMAS FINANCIAL CORPORATION COMPLETES SALE OF
               THE ASSETS OF LOMAS INFORMATION SYSTEMS


     DALLAS -- December 19, 1994 -- Lomas Financial Corporation
(NYSE: LFC) announced today that it has completed the sale of
substantially all of the assets of Lomas Information Systems, Inc.
("LIS") to Residential Information Services Limited Partnership
("RIS"), a newly formed affiliate of Residential Services Corporation
of America ("RSCA").  RSCA is a subsidiary of The Prudential Insurance
Company of America.  As previously disclosed, as consideration for the
sale Lomas received $2.5 million in cash; an $8.0 million note due
five years after closing and accruing interest at a rate per annum of
8% payable at maturity, which note can be adjusted based on future
financial performance of the information systems unit; and a
contingent interest equal to 35 percent of the purchaser's adjusted
gross revenues in excess of $55 million per year generated during the
seven years ending December 31, 2001.
     RSCA today confirmed that it intends to convert its current
$75 billion, 550,000 loan servicing portfolio to the EXCELIS Mortgage
Loan Servicing System acquired from LIS and that it will keep RIS in
the Dallas area.
                               -more-
                                                           Exhibit 1
                                                         (Continued)



Lomas Financial Corporation          -2-             December 19, 1994

     Jess Hay, chairman of Lomas, in commenting on the transaction,
said, "Now that we have closed the transaction, I want to say again
how very pleased we are that our information services business in the
future will reside in the strong hands of the mortgage related
subsidiaries of The Prudential and we look forward to working with
them through an orderly transition to assure continuation of quality
service to all of Lomas Information Systems' customers.  The sale is
a 'win-win' transaction.  For Lomas, it means the elimination of
operating losses which in fiscal 1994 totaled $23.2 million and the
cessation of cash subsidy requirements which have been running at the
rate of about $15.0 million per year.  From the purchaser's
perspective on the other hand, the LIS products include technology
which we believe to be the best currently available to the mortgage
industry and, in concert with the marketing and financial strength of
the purchaser, the quality of those products and the extraordinary
technical competence of the LIS staff should generate increased
revenues and attractive operating results in the future."  

                                -30-