<ARTICLE> 5
       
                             
<PERIOD-TYPE>                   9-MOS
<FISCAL-YEAR-END>                          DEC-31-1995
<PERIOD-END>                               SEP-30-1995
<CASH>                                          17,308
<SECURITIES>                                         0
<RECEIVABLES>                                2,251,280
<ALLOWANCES>                                     2,857
<INVENTORY>                                          0
<CURRENT-ASSETS>                                     0
<PP&E>                                             322
<DEPRECIATION>                                      82
<TOTAL-ASSETS>                               2,334,924
<CURRENT-LIABILITIES>                                0
<BONDS>                                        172,171
<COMMON>                                           409
<PREFERRED-MANDATORY>                                0
<PREFERRED>                                          0
<OTHER-SE>                                     334,523
<TOTAL-LIABILITY-AND-EQUITY>                 2,334,924
<SALES>                                              0
<TOTAL-REVENUES>                                45,163<F1>
<CGS>                                                0
<TOTAL-COSTS>                                    7,081
<OTHER-EXPENSES>                                     0
<LOSS-PROVISION>                                 2,399
<INTEREST-EXPENSE>                                   0
<INCOME-PRETAX>                                 35,683
<INCOME-TAX>                                         0
<INCOME-CONTINUING>                             35,683
<DISCONTINUED>                                       0
<EXTRAORDINARY>                                      0
<CHANGES>                                            0
<NET-INCOME>                                    35,683
<EPS-PRIMARY>                                     0.91
<EPS-DILUTED>                                     0.91
<FN>
<F1>INCLUDES 95,672 OF INTEREST EXPENSE RELATED TO MORTGAGE LOAN ACTIVITIES.
</FN>