<ARTICLE> 5
<LEGEND>
This schedule contains summary financial information extracted from the
September 30, 1998 Form 10-Q and is qualified in its entirety by reference to
such financial statements.
</LEGEND>
<MULTIPLIER> 1,000
       
                             
<PERIOD-TYPE>                   9-MOS
<FISCAL-YEAR-END>                          DEC-31-1998
<PERIOD-END>                               SEP-30-1998
<CASH>                                          12,608
<SECURITIES>                                   906,211
<RECEIVABLES>                                   12,758
<ALLOWANCES>                                     3,152
<INVENTORY>                                          0
<CURRENT-ASSETS>                               928,425
<PP&E>                                               0
<DEPRECIATION>                                       0
<TOTAL-ASSETS>                                 928,425
<CURRENT-LIABILITIES>                          405,455
<BONDS>                                        418,412
<PREFERRED-MANDATORY>                                0
<PREFERRED>                                          0
<COMMON>                                            81
<OTHER-SE>                                     104,477
<TOTAL-LIABILITY-AND-EQUITY>                   928,425
<SALES>                                              0
<TOTAL-REVENUES>                                54,042
<CGS>                                                0
<TOTAL-COSTS>                                        0
<OTHER-EXPENSES>                                 3,169
<LOSS-PROVISION>                                   714
<INTEREST-EXPENSE>                              44,611
<INCOME-PRETAX>                                  5,548
<INCOME-TAX>                                         0
<INCOME-CONTINUING>                              5,548
<DISCONTINUED>                                       0
<EXTRAORDINARY>                                      0
<CHANGES>                                            0
<NET-INCOME>                                     5,548
<EPS-PRIMARY>                                     0.69
<EPS-DILUTED>                                     0.69