<ARTICLE> 5
<MULTIPLIER> 1,000

                             
<PERIOD-TYPE>                   3-MOS
<FISCAL-YEAR-END>                          DEC-31-1999
<PERIOD-END>                               SEP-30-1999
<CASH>                                          11,793
<SECURITIES>                                   261,069
<RECEIVABLES>                                3,170,744
<ALLOWANCES>                                    53,944
<INVENTORY>                                          0
<CURRENT-ASSETS>                                     0
<PP&E>                                               0
<DEPRECIATION>                                       0
<TOTAL-ASSETS>                               3,497,550
<CURRENT-LIABILITIES>                           41,773
<BONDS>                                      2,598,832
<PREFERRED-MANDATORY>                                0
<PREFERRED>                                          0
<COMMON>                                           806
<OTHER-SE>                                     856,139
<TOTAL-LIABILITY-AND-EQUITY>                 3,497,550
<SALES>                                              0
<TOTAL-REVENUES>                               122,009<F1>
<CGS>                                                0
<TOTAL-COSTS>                                   25,136
<OTHER-EXPENSES>                                     0
<LOSS-PROVISION>                                12,310
<INTEREST-EXPENSE>                                   0
<INCOME-PRETAX>                                 84,563
<INCOME-TAX>                                         0
<INCOME-CONTINUING>                             84,563
<DISCONTINUED>                                       0
<EXTRAORDINARY>                                      0
<CHANGES>                                            0
<NET-INCOME>                                    84,563
<EPS-BASIC>                                       1.07
<EPS-DILUTED>                                     1.06
<FN>
<F1>Includes 141,076 of interest expense related to mortgage loan activities.
</FN>