SECURITIES AND EXCHANGE COMMISSION
Washington, D.C.  20549
_____________________

FORM 10-Q

[ X ]  Quarterly Report Pursuant to Section 13 or 15(d) of the Securities
Exchange Act of 1934 For the quarterly period ended June 30, 1996

or

[   ]Transition Report Pursuant to Section 13 or 15(d) of the Securities
Exchange Act of 1934 
For the transition period from ___________________ to
__________________


Commission File Number 0-19847


FIRST MORTGAGE CORPORATION
(Exact name of registrant as specified in its charter)



California                              95-2960716
(State or other jurisdiction            (I.R.S. Employer
of incorporation or
Identification No.) organization)





3230 Fallow Field Drive
Diamond Bar, California 91765
(Address, including zip code, of principal executive offices)

(909) 595-1996
(Registrant's telephone number, including area code)



Indicate by check mark whether the registrant (1) has filed all reports required
to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during
the preceding 12 months (or for such shorter period that the registrant was
required to file such reports), and (2) has been subject to such filing
requirements for the past 90 days.

YES  X                       NO____

As of June 30, 1996, 5,883,117 shares of the registrant's common stock were
outstanding.


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 thereunto duly authorized.
 
                                    FIRST MORTGAGE CORPORATION
Date:  August 12, 1996               By  S/Clement Ziroli
                                         Clement Ziroli
                                         Chairman of the Board of
                                         Directors,
                                         Chief Executive Officer



Date:  August 12, 1996

                                     By S/Pac W. Dong
                                        Pac W. Dong
                                        Chief Financial Officer, 
                                        Controller and
                                        Executive Vice
                                        President