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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


                                October 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                 (Commission File Number)        (I.R.S. Employer 
Jurisdiction of Incorporation)                                        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 October 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: November 5, 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 October 25, 1998........................        5