UNITED STATES 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 TO 1934

      Date of Report (Date of Earliest Event Reported): September 11, 2002

                              SIENA HOLDINGS, INC.
             (Exact name of registrant as specified in its charter)

                                   Delaware
         (State or other jurisdiction of incorporation or organization)

                1-6868                                      75-1043392
       (Commission File Number)                           (IRS Employer
                                                        Identification No.)

5068 West Plano Parkway,  Suite 300,  Plano, Texas             75093
     (Address of principal executive offices)                (Zip code)

                                (972) 381-4255
              (Registrant"s telephone number, including area code)

                          Lomas Financial Corporation
          (Former Name or Former Address, if Changed Since Last Report)

Item 2. ACQUISITION OR DISPOSITION OF ASSETS.

The Company has been informed that the owner of the Treemont retirement
community, which the Company manages through its subsidiary Siena Housing
Management Corp, signed an agreement to sell the property. This event was
anticipated by an Amendment to the Management Agreement, as was previously
reported, between the Company and the Treemont owners, which provides for the
termination of the Management Agreement upon the sale of Treemont, if the
Company is compensated a percentage of the net sale proceeds as defined. The
Amendment provides for a minimum payment of $2 million, and based upon the terms
of the sale agreement, could be as much as $2.5 million if current costs of sale
estimates are correct. The sales agreement has certain significant due
diligence, financing and insurance requirements. As a result of these
significant requirements, there can be no assurance that the sale transaction
will, in fact, close. The result of a sale would materially and adversely impact
the revenue and cash flow of the Company.

Item 7. FINANCIAL STATEMENTS AND EXHIBITS

      ( a ) None.

      ( b ) None.

      ( c ) None.

                                   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 thereunto duly authorized.

                                                    SIENA HOLDINGS, INC.


Date: September 11, 2002                            By: /s/ W. Joseph Dryer
                                                        ------------------------
                                                    W. Joseph Dryer
                                                    President