--------------------------------------------------------------------------------



                       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

       Date of Report (Date of earliest event reported) December 31, 1996

               Prudential Securities Secured Financing Corporation
--------------------------------------------------------------------------------
             (Exact name of registrant as specified in its charter)

              Delaware                 333-15611                13-3526694
  ----------------------------        -----------            ----------------
  (State or Other Jurisdiction        (Commission            (I.R.S. Employer
        of Incorporation)             File Number)          Identification No.)

         One New York Plaza
         New York, New York                                        10292
       ---------------------                                  ---------------- 
       (Address of Principal                                     (Zip Code)    
         Executive Offices) 

        Registrant's telephone number, including area code (212) 778-1000

                                    No Change
--------------------------------------------------------------------------------
          (Former name or former address, if changed since last report)



--------------------------------------------------------------------------------
<PAGE>

      Item 2.  Acquisition or Disposition of Assets

Description of the Certificates and the Mortgage Loans

            Prudential Securities Secured Financing Corporation registered
issuances of up to $750,000,000 principal amount of Mortgage Pass-Through
Certificates on a delayed or continuous basis pursuant to Rule 415 under the
Securities Act of 1933, as amended (the "Act"), by the Registration Statements
on Form S-3 (Registration File No. 333-15611) (as amended, the "Registration
Statement"). Pursuant to the Registration Statement, Wilshire Mortgage Loan
Trust 1996-4 (the "Trust") issued approximately $65,521,000 in aggregate
principal amount of its Mortgage Pass-Through Certificates, Series 1996-4 (the
"Certificates"), on December 31, 1996. This Current Report on Form 8-K is being
filed to satisfy an undertaking to file copies of certain agreements executed in
connection with the issuance of the Certificates, the forms of which were filed
as Exhibits to the Registration Statement.

            The Certificates were issued pursuant to a Pooling and Servicing
Agreement (the "Pooling and Servicing Agreement") attached hereto as Exhibit
4.1, dated as of December 11, 1996, between Prudential Securities Secured
Financing Corporation, as depositor (the "Depositor"), Wilshire Servicing
Corporation, in its capacity as servicer (the "Servicer"), Wilshire Financing
Company, L.L.C., in its capacity as unaffiliated seller (the "Unaffiliated
Seller"), Source One Mortgage Services Corporation, in its capacity as backup
servicer (the "Backup Servicer") and Bankers Trust Company of California, N.A.,
in its capacity as trustee (the "Trustee"). The Certificates consist of four
classes of senior Certificates, the Class A-1, Class A-2, Class A-3 and Class
A-4 Certificates (collectively, the "Class A Certificates"), one class of
subordinated Certificates, the Class B Certificates (the "Class B
Certificates"), and two class of residual certificates, the Class RU and Class
RL Certificates (together, the "Class R Certificates"). Only the Class A
Certificates were offered pursuant to the Registration Statement. The
Certificates initially evidence, in the aggregate, 100% of the undivided
beneficial ownership interests in the Trust.

            The assets of the Trust will be primarily fixed-rate, closed-end,
conventional, monthly pay, generally fully amortizing, mortgage loans (the
"Mortgage Loans") secured by first or second lien mortgages or deeds of trust
(the "Mortgages") on real properties (the "Mortgaged Properties"). The Mortgaged
Properties securing the Mortgage Loans consist primarily of single family
residences (which may be detached, part of a two-to four-family dwelling, a
condominium unit or a unit in a planned unit development). The Mortgage Loans
were transferred to from the Unaffiliated Seller to the


                                        2
<PAGE>

Depositor pursuant to an Unaffiliated Seller's Agreement (the "Unaffiliated
Seller's Agreement") attached hereto as Exhibit 4.2 dated as of December 11,
1996, among the Unaffiliated Seller, the Servicer and the Depositor. The
Mortgage Loans were transferred to the Trust pursuant to the Pooling and
Servicing Agreement.

            Interest distributions on the Class A Certificates are based on the
Certificate Principal Balance thereof and the then applicable Pass-Through Rate
thereof. The Pass-Through Rate is 6.40% per annum for the Class A-1
Certificates, 6.75% for the Class A-2 Certificates, 7.03% for the Class A-3
Certificates and 7.51% for the Class A-4 Certificates,.

            The Class A Certificates have an aggregate principal amount of
$65,521,000.

            As of the Closing Date, the Mortgage Loans possessed the
characteristics described in the Prospectus dated December 4, 1996 and the
Prospectus Supplement dated December 23, 1996 filed pursuant to Rule 424(b)(5)
of the Act on December 31, 1996.

      Item 7.  Financial Statements, Pro Forma Financial
               Information and Exhibits.

(a)  Not applicable

(b)  Not applicable

(c)  Exhibits:

            1.1 Underwriting Agreement, dated December 23, 1996 between
Prudential Securities Secured Financing Corporation and Prudential Securities
Incorporated.

            4.1 Pooling and Servicing Agreement, dated as of December 11, 1996,
between Prudential Securities Secured Financing Corporation, as depositor,
Wilshire Financing Company, L.L.C., as unaffiliated seller, Wilshire Servicing
Corporation, as servicer, Source One Mortgage Services Corporation, as backup
servicer, and Bankers Trust Company of California, as trustee.

            4.2 Unaffiliated Seller's Agreement, dated as of December 11, 1996,
among Wilshire Financing Company, L.L.C., Wilshire Servicing Corporation and
Prudential Securities Secured Financing Corporation.


                                        3
<PAGE>

                                   SIGNATURES

            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 hereunto duly authorized.


                                PRUDENTIAL SECURITIES SECURED FINANCING
                                CORPORATION
                                ----------------------------------------

                                      As Depositor and on behalf of
                                      Wilshire Mortgage Loan Trust 1996-4
                                Registrant
                    
                                       By: /s/ Norman Chaleff
                                           -----------------------------
                                           Name:   Norman Chaleff
                                           Title:  Vice President

Dated: December 31, 1996
<PAGE>

                                  EXHIBIT INDEX

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

      1.1         Underwriting Agreement, dated December 23, 1996, between
                  Prudential Securities Secured Financing Corporation and
                  Prudential Securities Incorporated.

      4.1         Pooling and Servicing Agreement, dated as of December
                  11, 1996, between Prudential Securities Secured
                  Financing Corporation, as depositor, Wilshire Financing
                  Company, L.L.C., as unaffiliated seller, Wilshire
                  Servicing Corporation, as servicer, Source One Mortgage
                  Services Corporation, as backup servicer, and Bankers
                  Trust Company of California, N.A., as trustee.

      4.2         Unaffiliated Seller's Agreement, dated as of December
                  11, 1996, among Wilshire Financing Company, L.L.C.,
                  Wilshire Servicing Corporation and Prudential Securities
                  Secured Financing Corporation.
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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

       Date of Report (Date of earliest event reported) December 31, 1996

               Prudential Securities Secured Financing Corporation
--------------------------------------------------------------------------------
             (Exact name of registrant as specified in its charter)

              Delaware                 333-15611                13-3526694
  ----------------------------        -----------            ----------------
  (State or Other Jurisdiction        (Commission            (I.R.S. Employer
        of Incorporation)             File Number)          Identification No.)

         One New York Plaza
         New York, New York                                        10292
       ---------------------                                  ---------------- 
       (Address of Principal                                     (Zip Code)    
         Executive Offices) 

        Registrant's telephone number, including area code (212) 778-1000

                                    No Change
--------------------------------------------------------------------------------
          (Former name or former address, if changed since last report)

--------------------------------------------------------------------------------
Item 2.  Acquisition or Disposition of Assets

Description of the Certificates and the Mortgage Loans

            Prudential Securities Secured Financing Corporation registered
issuances of up to $750,000,000 principal amount of Mortgage Pass-Through
Certificates on a delayed or continuous basis pursuant to Rule 415 under the
Securities Act of 1933, as amended (the "Act"), by the Registration Statements
on Form S-3 (Registration File No. 333-15611) (as amended, the "Registration
Statement"). Pursuant to the Registration Statement, Wilshire Mortgage Loan
Trust 1996-4 (the "Trust") issued approximately $65,521,000 in aggregate
principal amount of its Mortgage Pass-Through Certificates, Series 1996-4 (the
"Certificates"), on December 31, 1996. This Current Report on Form 8-K is being
filed to satisfy an undertaking to file copies of certain agreements executed in
connection with the issuance of the Certificates, the forms of which were filed
as Exhibits to the Registration Statement.

            The Certificates were issued pursuant to a Pooling and Servicing
Agreement (the "Pooling and Servicing Agreement") attached hereto as Exhibit
4.1, dated as of December 11, 1996, between Prudential Securities Secured
Financing Corporation, as depositor (the "Depositor"), Wilshire Servicing
Corporation, in its capacity as servicer (the "Servicer"), Wilshire Financing
Company, L.L.C., in its capacity as unaffiliated seller (the "Unaffiliated
Seller"), Source One Mortgage Services Corporation, in its capacity as backup
servicer (the "Backup Servicer") and Bankers Trust Company of California, N.A.,
in its capacity as trustee (the "Trustee"). The Certificates consist of four
classes of senior Certificates, the Class A-1, Class A-2, Class A-3 and Class
A-4 Certificates (collectively, the "Class A Certificates"), one class of
subordinated Certificates, the Class B Certificates (the "Class B
Certificates"), and two class of residual certificates, the Class RU and Class
RL Certificates (together, the "Class R Certificates"). Only the Class A
Certificates were offered pursuant to the Registration Statement. The
Certificates initially evidence, in the aggregate, 100% of the undivided
beneficial ownership interests in the Trust.

            The assets of the Trust will be primarily fixed-rate, closed-end,
conventional, monthly pay, generally fully amortizing, mortgage loans (the
"Mortgage Loans") secured by first or second lien mortgages or deeds of trust
(the "Mortgages") on real properties (the "Mortgaged Properties"). The Mortgaged
Properties securing the Mortgage Loans consist primarily of single family
residences (which may be detached, part of a two-to four-family dwelling, a
condominium unit or a unit in a planned unit development). The Mortgage Loans
were transferred to from the Unaffiliated Seller to the

                                        2
Depositor pursuant to an Unaffiliated Seller's Agreement (the "Unaffiliated
Seller's Agreement") attached hereto as Exhibit 4.2 dated as of December 11,
1996, among the Unaffiliated Seller, the Servicer and the Depositor. The
Mortgage Loans were transferred to the Trust pursuant to the Pooling and
Servicing Agreement.

            Interest distributions on the Class A Certificates are based on the
Certificate Principal Balance thereof and the then applicable Pass-Through Rate
thereof. The Pass-Through Rate is 6.40% per annum for the Class A-1
Certificates, 6.75% for the Class A-2 Certificates, 7.03% for the Class A-3
Certificates and 7.51% for the Class A-4 Certificates,.

            The Class A Certificates have an aggregate principal amount of
$65,521,000.

            As of the Closing Date, the Mortgage Loans possessed the
characteristics described in the Prospectus dated December 4, 1996 and the
Prospectus Supplement dated December 23, 1996 filed pursuant to Rule 424(b)(5)
of the Act on December 31, 1996.

      Item 7.  Financial Statements, Pro Forma Financial
               Information and Exhibits.

(a)  Not applicable

(b)  Not applicable

(c)  Exhibits:

            1.1 Underwriting Agreement, dated December 23, 1996 between
Prudential Securities Secured Financing Corporation and Prudential Securities
Incorporated.

            4.1 Pooling and Servicing Agreement, dated as of December 11, 1996,
between Prudential Securities Secured Financing Corporation, as depositor,
Wilshire Financing Company, L.L.C., as unaffiliated seller, Wilshire Servicing
Corporation, as servicer, Source One Mortgage Services Corporation, as backup
servicer, and Bankers Trust Company of California, as trustee.

            4.2 Unaffiliated Seller's Agreement, dated as of December 11, 1996,
among Wilshire Financing Company, L.L.C., Wilshire Servicing Corporation and
Prudential Securities Secured Financing Corporation.

                                        3
SIGNATURES

            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 hereunto duly authorized.

                                PRUDENTIAL SECURITIES SECURED FINANCING
                                CORPORATION
                                ----------------------------------------

                                      As Depositor and on behalf of
                                      Wilshire Mortgage Loan Trust 1996-4
                                Registrant
                    
                                       By: /s/ Norman Chaleff
                                           -----------------------------
                                           Name:   Norman Chaleff
                                           Title:  Vice President

Dated: December 31, 1996
EXHIBIT INDEX

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

      1.1         Underwriting Agreement, dated December 23, 1996, between
                  Prudential Securities Secured Financing Corporation and
                  Prudential Securities Incorporated.

      4.1         Pooling and Servicing Agreement, dated as of December
                  11, 1996, between Prudential Securities Secured
                  Financing Corporation, as depositor, Wilshire Financing
                  Company, L.L.C., as unaffiliated seller, Wilshire
                  Servicing Corporation, as servicer, Source One Mortgage
                  Services Corporation, as backup servicer, and Bankers
                  Trust Company of California, N.A., as trustee.

      4.2         Unaffiliated Seller's Agreement, dated as of December
                  11, 1996, among Wilshire Financing Company, L.L.C.,
                  Wilshire Servicing Corporation and Prudential Securities
                  Secured Financing Corporation.