SECURITIES AND EXCHANGE COMMISSION
                              WASHINGTON, DC 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 19, 2001

                         FGIC SECURITIES PURCHASE, INC.
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               (Exact Name of Registrant as Specified in Charter)

          Delaware                     0-19564                   13-3633082
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(State or Other Jurisdiction      (Commission File              (IRS Employer
      of Incorporation)                Number)               Identification No.)

                     115 Broadway, New York, New York 10006
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(Address of Principal Executive Offices)              (Zip Code)

Registrant's telephone number, including area code (212) 312-3000

________________________________________________________________________________
          (Former Name or Former Address, if Changed Since Last Report)



Item 5. Other Events.

      An exhibit is filed herewith in connection with the Registration Statement
on Form S-3 (File No. 333-47446) filed by FGIC Securities Purchase, Inc.
("FGIC-SPI") with the Securities and Exchange Commission covering Liquidity
Facility Obligations in the principal amount of $1,000,000,000 plus interest.

      The exhibit consists of the consent of KPMG LLP relating to (i) the
incorporation by reference of their report dated February 2, 2001 relating to
the financial statements and schedules of General Electric Capital Corporation
("GE Capital") and consolidated affiliates as of December 31, 2000 and 1999 and
for each of the years in the three-year period ended December 31, 2000 appearing
GE Capital's Annual Report on Form 10-K for the year ended December 31, 2000;
and (ii) the reference to them under Experts in the Prospectus Supplement, dated
September 19, 2001, relating to the Liquidity Facility of FGIC Securities
Purchase, Inc. in support of $180,000,000 principal amount plus interest
Liquidity Facility in support of Massachusetts Water Resources Authority,
Multi-Modal Subordinated General Revenue Bonds, 2001 Series A and 2001 Series B.

Item 7. Exhibits.

      Item 601 of
      Regulation S-K
      Exhibit Reference
      Number

      (24) Consents of experts and counsel:
           (a) Consent of KPMG LLP



                                    SIGNATURE

      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.

                                       FGIC SECURITIES PURCHASE, INC.
                                                Registrant

Dated: September 19, 2001              By: /s/ Judith Hart
                                           ---------------------------
                                           Name:  Judith Hart
                                           Title: Vice President



                                  Exhibit Index

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

      (24)      Consents of experts and counsel:
                (a)   Consent of KPMG LLP