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) April 7, 2003


                  Goldman Sachs Asset Backed Securities Corp.
            (Exact name of registrant as specified in its charter)


           Delaware                    333-101904            02-0678069
------------------------------       --------------      -------------------
 (State or Other Jurisdiction         (Commission         (I.R.S. Employer
       of Incorporation)               File No.)          Identification No.)


                                85 Broad Street
                              New York, NY 10004
              (Address of Principal Executive Offices) (Zip Code)


                                (212) 902-1000
              Registrant's telephone number, including area code


                                Not Applicable
         (Former name or former address, if changed since last report)




Item 5.  Other Events

         The Registrant registered issuances of securities on a delayed or
continuous basis pursuant to Rule 415 under the Securities Act of 1933 by a
Registration Statement on Form S-3 (Registration File No. 333-101904) (the
"Registration Statement"). The Securities and Exchange Commission declared
this Registration Statement effective at 9:00AM on March 13, 2003. This
Current Report on Form 8-K discloses the use of a Collateral Term Sheets (as
defined in the no-action letter issued by the staff of the Securities and
Exchange Commission on March 9, 1995 to the Public Securities Association)
furnished to the Registrant by Goldman, Sachs & Co. in respect of the
Registrant's proposed offering of approximately $522,369,000 of Asset-Backed
Securities, Series 2003-1 (the "Securities"). These Collateral Term Sheets
were first distributed to prospective investors on April 7, 2003.

         The Securities will be offered pursuant to a Prospectus and related
Prospectus Supplement (together, the "Prospectus"), which will be filed with
the Commission pursuant to Rule 424 under the Securities Act of 1933, as
amended (the "Act"). The Securities will be registered pursuant to the Act
under the Registration Statement. This transaction is expected to close on
April 24, 2003. The Registrant hereby incorporates the attached Collateral
Term Sheets by reference in the Registration Statement.

         Any statement or information contained in the attached Collateral
Term Sheets shall be deemed to be modified or superseded for purposes of the
Prospectus and the Registration Statement by statements or information
contained in the Prospectus.


Item 7.  Financial Statements and Exhibits

         A description of the Exhibit filed herewith is attached hereto.


                                   SIGNATURE


Pursuant to the requirements of the Securities Exchange Act of 1934, as
amended, the Registrant has duly caused this report to be signed on its behalf
by the undersigned hereunto duly authorized.


                                    Goldman Sachs Asset Backed Securities Corp.


                                     By:  /s/ Samuel Ramos
                                          ---------------------------------
                                          Name:   Samuel Ramos
                                          Title:  Secretary

Dated: April 9, 2003


<page>


                                 EXHIBIT INDEX

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

    99               Collateral Term Sheets as prepared by Goldman, Sachs &
                     Co. for an offering of approximately $522,369,000 of
                     Asset-Backed Securities, Series 2003-1 pursuant to the
                     Registration Statement
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{"company-data": {"conformed-name": "GOLDMAN SACHS ASSET BACKED SECURITIES CORP", "cik": "0001210198", "assigned-sic": "6189"}, "filing-values": {"form-type": "8-K", "act": "34", "file-number": "333-101904", "film-number": "03644253"}, "mail-address": {"street1": "85 BROAD ST", "city": "NEW YORK", "state": "NY", "zip": "10004"}}
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) April 7, 2003

                  Goldman Sachs Asset Backed Securities Corp.
            (Exact name of registrant as specified in its charter)

           Delaware                    333-101904            02-0678069
------------------------------       --------------      -------------------
 (State or Other Jurisdiction         (Commission         (I.R.S. Employer
       of Incorporation)               File No.)          Identification No.)

                                85 Broad Street
                              New York, NY 10004
              (Address of Principal Executive Offices) (Zip Code)

                                (212) 902-1000
              Registrant's telephone number, including area code

                                Not Applicable
         (Former name or former address, if changed since last report)

Item 5.  Other Events

         The Registrant registered issuances of securities on a delayed or
continuous basis pursuant to Rule 415 under the Securities Act of 1933 by a
Registration Statement on Form S-3 (Registration File No. 333-101904) (the
"Registration Statement"). The Securities and Exchange Commission declared
this Registration Statement effective at 9:00AM on March 13, 2003. This
Current Report on Form 8-K discloses the use of a Collateral Term Sheets (as
defined in the no-action letter issued by the staff of the Securities and
Exchange Commission on March 9, 1995 to the Public Securities Association)
furnished to the Registrant by Goldman, Sachs & Co. in respect of the
Registrant's proposed offering of approximately $522,369,000 of Asset-Backed
Securities, Series 2003-1 (the "Securities"). These Collateral Term Sheets
were first distributed to prospective investors on April 7, 2003.

         The Securities will be offered pursuant to a Prospectus and related
Prospectus Supplement (together, the "Prospectus"), which will be filed with
the Commission pursuant to Rule 424 under the Securities Act of 1933, as
amended (the "Act"). The Securities will be registered pursuant to the Act
under the Registration Statement. This transaction is expected to close on
April 24, 2003. The Registrant hereby incorporates the attached Collateral
Term Sheets by reference in the Registration Statement.

         Any statement or information contained in the attached Collateral
Term Sheets shall be deemed to be modified or superseded for purposes of the
Prospectus and the Registration Statement by statements or information
contained in the Prospectus.

Item 7.  Financial Statements and Exhibits

         A description of the Exhibit filed herewith is attached hereto.

                                   SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934, as
amended, the Registrant has duly caused this report to be signed on its behalf
by the undersigned hereunto duly authorized.

                                    Goldman Sachs Asset Backed Securities Corp.

                                     By:  /s/ Samuel Ramos
                                          ---------------------------------
                                          Name:   Samuel Ramos
                                          Title:  Secretary

Dated: April 9, 2003
EXHIBIT INDEX

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

    99               Collateral Term Sheets as prepared by Goldman, Sachs &
                     Co. for an offering of approximately $522,369,000 of
                     Asset-Backed Securities, Series 2003-1 pursuant to the
                     Registration Statement