<ARTICLE> 5
<LEGEND>
This schedule summary financial information extracted from the Financial
Statements at May 31, 1996 (Unaudited) and the Statement of Income for the
three months ended May 31, 1996 (Unaudited) and is qualified by reference to
such financial statements.
</LEGEND>
<CIK> 0000036548
<NAME> FIRST MORTAGE CORPORATION
       
                                       
<PERIOD-TYPE>                                    3-MOS
<FISCAL-YEAR-END>                          FEB-28-1997
<PERIOD-END>                               MAY-31-1996
<CASH>                                         339,881
<SECURITIES>                                         0
<RECEIVABLES>                                  288,441
<ALLOWANCES>                                         0
<INVENTORY>                                          0
<CURRENT-ASSETS>                               628,322
<PP&E>                                             712
<DEPRECIATION>                                       0
<TOTAL-ASSETS>                                  26,416
<CURRENT-LIABILITIES>                          655,450
<BONDS>                                         58,297
<COMMON>                                        51,102
<PREFERRED-MANDATORY>                                0
<PREFERRED>                                          0
<OTHER-SE>                                     546,051
<TOTAL-LIABILITY-AND-EQUITY>                   655,450
<SALES>                                         28,603
<TOTAL-REVENUES>                                28,603
<CGS>                                                0
<TOTAL-COSTS>                                   18,623
<OTHER-EXPENSES>                                     0
<LOSS-PROVISION>                                     0
<INTEREST-EXPENSE>                                   0
<INCOME-PRETAX>                                      0
<INCOME-TAX>                                     1,497
<INCOME-CONTINUING>                                  0
<DISCONTINUED>                                       0
<EXTRAORDINARY>                                      0
<CHANGES>                                            0
<NET-INCOME>                                     8,483
<EPS-PRIMARY>                                        0
<EPS-DILUTED>                                        0