<ARTICLE> 5 <LEGEND> THIS SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM THE FINANCIAL STATEMENTS FOR THE QUARTER ENDED SEPTEMBER 30, 1994 AND IS QUALIFIED IN ITS ENTIRETY BY REFERENCE TO SUCH FINANCIAL STATEMENTS. </LEGEND> <PERIOD-TYPE> 9-MOS <FISCAL-YEAR-END> DEC-31-1994 <PERIOD-END> SEP-30-1994 <CASH> 3,008,711 <SECURITIES> 90,155,840<F1> <RECEIVABLES> 704,864 <ALLOWANCES> 0 <INVENTORY> 0 <CURRENT-ASSETS> 3,399,654<F2> <PP&E> 0 <DEPRECIATION> 0 <TOTAL-ASSETS> 97,269,069 <CURRENT-LIABILITIES> 12,689 <BONDS> 0 <COMMON> 97,256,380<F3> <PREFERRED-MANDATORY> 0 <PREFERRED> 0 <OTHER-SE> 0 <TOTAL-LIABILITY-AND-EQUITY> 97,269,069 <SALES> 0 <TOTAL-REVENUES> 5,598,339<F4> <CGS> 0 <TOTAL-COSTS> 0 <OTHER-EXPENSES> 1,500,896<F5> <LOSS-PROVISION> 0 <INTEREST-EXPENSE> 0 <INCOME-PRETAX> 4,097,443 <INCOME-TAX> 0 <INCOME-CONTINUING> 4,097,443 <DISCONTINUED> 0 <EXTRAORDINARY> 0 <CHANGES> 0 <NET-INCOME> 4,097,443 <EPS-PRIMARY> 0<F6> <EPS-DILUTED> 0<F6> <FN> <F1>Participating Insured Mortgages (PIMs") $59,962,668 Mortgage Backed Securities ("MBS") 30,193,172 <F2>prepaid acquisition fees and expenses of $2,653,201; net of accumulated amortization of $3,467,307 and prepaid participation servicing fees of $746,453 net of accumulated amortization of $1,653,546. <F3>Equity of general partners $(145,385), limited partners of $97,401,765 <F4>Interest income on mortgages and cash. <F5>Includes $718,876 of amortization of prepaid fees and expenses. <F6>Net income allocated $122,923 to the General Partners and $3,974,520 to the Limited Partners. Average net income per unit of Limited Partners interest is $.53 on 7,500,099 units outstanding. </FN>