FORM 8-K
                       SECURITIES AND EXCHANGE COMMISSION
                             Washington, D.C. 20549



CURRENT REPORT PURSUANT TO SECTION 13 OR 15(d)OF THE SECURITIES EXCHANGE
ACT OF 1934

Date of Report (date of earliest event reported):  September 5, 2002


                    Friedman, Billings, Ramsey Group, Inc.
            (Exact name of Registrant as specified in its charter)




   Virginia                      54-1837743                   001-13731
(State or other    (I.R.S. Employer incorporation or    (Commission File Number)
jurisdiction of                organization)
Identification No.)



                             1001 Nineteenth Street
                           North Arlington, VA 22209
              (Address of principal executive offices) (Zip code)


                                (703) 312-9500
              (Registrant's telephone number including area code)



Item 9. Regulation FD Disclosure


1.   On September 5, 2002, Friedman, Billings, Ramsey Group, Inc. issued a press
     release  announcing  the  pricing  of a  $400  million  144A  Institutional
     Placement for American Financial Realty Trust. A complete copy of the press
     release is furnished herewith as Ex. 99.1.


     Ex. 99.1 Press Release dated September 5, 2002.



SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the Company
has duly caused this Report to be signed on its behalf by the undersigned
hereunto duly authorized.

FRIEDMAN, BILLINGS, RAMSEY GROUP, INC.

By: /s/ Emanuel J. Friedman
        Emanuel J. Friedman
        Chairman and Co-Chief Executive Officer