EXHIBIT 23(b)


                         CONSENT OF INDEPENDENT AUDITORS



         We consent to the incorporation by reference in the Registration
Statements, as amended, pertaining to the Long-Term Incentive Plan (Form S-8,
No. 33-5297), Medium-Term Notes Series A (Form S-3, No. 33-54006) and Common
Stock Warrants (Form S-3, No. 33-54749) of Fund American Enterprises Holdings,
Inc. and to the Source One Mortgage Services Corporation Employee Stock
Ownership and 401(K) Plan (Form S-8, No. 333-13027) of our report dated March
21, 1997, with respect to the consolidated financial statements and schedules of
Fund American Enterprises Holdings, Inc. included in the Annual Report (Form
10-K) for the year ended December 31, 1996.




                                                           /s/ Ernst & Young LLP
New York, New York
March 25, 1999