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                       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


                                 August 25, 1998
                Date of Report (Date of Earliest Event Reported)


                   BEAR STEARNS ASSET BACKED SECURITIES, INC.

  (as Depositor under the Pooling and Servicing Agreement, dated June 1, 1998,
 providing for the Issuance of the American Residential Home Equity Loan Trust
                   Asset-Backed Certificates, Series 1998-1)


                   BEAR STEARNS ASSET BACKED SECURITIES, INC.
             (Exact Name of Registrant as Specified in Its Charter)





                  Delaware                               333-49015-01                           13-3836437
                                                                             
(State or Other Jurisdiction of Incorporation)      (Commission File Number)       (I.R.S. Employer Identification No.)


                    245 Park Avenue, New York, New York 10167
                    (Address of Principal Executive Offices)



                                 (212) 272-4095
                         (Registrant's Telephone Number,
                              Including Area Code)

                                 Not Applicable
          (Former Name or Former Address, if Changed Since Last Report)



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                    INFORMATION TO BE INCLUDED IN THE REPORT

Item 5.    OTHER EVENTS

           On June 1, 1998, Bear Stearns Asset Backed Securities, Inc. (the
           "Company") entered into a Pooling and Servicing Agreement dated as of
           June 1, 1998 (the "Pooling and Servicing Agreement"), by and among
           the Company, as depositor; American Residential Holdings, Inc., as
           seller (the "Seller"); Countrywide Home Loans, Inc., as master
           servicer (the "Master Servicer"); and Bankers Trust Company of
           California, N.A, as trustee (the "Trustee"), providing for the
           issuance of the American Residential Home Equity Loan Trust
           Asset-Backed Certificates, Series 1998-1 (the "Certificates").

           The following exhibit which relates specifically to the Certificates
           is included with this Current Report:

Item 7(c). Exhibits

           10.1       Monthly Payment Date Statement distributed to
                      Certificateholders, dated August 25, 1998.



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                                    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.

Date:  September 17, 1998


                                            BEAR STEARNS ASSET BACKED
                                            SECURITIES, INC.


                                            By: /s/ Jonathan Lieberman
                                               ---------------------------------
                                               Jonathan Lieberman
                                               Vice President



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                                  EXHIBIT INDEX




Exhibit Number                                                                                          Page Number
- --------------                                                                                          -----------
                                                                                                     
10.1 Monthly Payment Date Statement distributed to
     Certificateholders, dated August 25, 1998..........................................................     5