<ARTICLE> 5
<LEGEND>
This schedule contains summary financial information extracted from the March
31, 1999 Form 10-Q and is qualified in its entirety by reference to such
financial statements.
</LEGEND>
<MULTIPLIER> 1,000
       
                             
<PERIOD-TYPE>                   3-MOS
<FISCAL-YEAR-END>                          DEC-31-1999
<PERIOD-START>                             JAN-01-1999
<PERIOD-END>                               MAR-31-1999
<CASH>                                          34,858
<SECURITIES>                                   626,193
<RECEIVABLES>                                   23,070
<ALLOWANCES>                                     6,416
<INVENTORY>                                          0
<CURRENT-ASSETS>                               677,705
<PP&E>                                               0
<DEPRECIATION>                                       0
<TOTAL-ASSETS>                                 677,705
<CURRENT-LIABILITIES>                          233,488
<BONDS>                                        340,590
<PREFERRED-MANDATORY>                                0
<PREFERRED>                                          0
<COMMON>                                            81
<OTHER-SE>                                     103,546
<TOTAL-LIABILITY-AND-EQUITY>                   677,705
<SALES>                                              0
<TOTAL-REVENUES>                                15,710
<CGS>                                                0
<TOTAL-COSTS>                                        0
<OTHER-EXPENSES>                                 1,358
<LOSS-PROVISION>                                   950
<INTEREST-EXPENSE>                              11,788
<INCOME-PRETAX>                                  1,614
<INCOME-TAX>                                         0
<INCOME-CONTINUING>                              1,614
<DISCONTINUED>                                       0
<EXTRAORDINARY>                                      0
<CHANGES>                                            0
<NET-INCOME>                                     1,614
<EPS-PRIMARY>                                     0.20<F1>
<EPS-DILUTED>                                     0.20
<FN>
<F1>For Purposes of this Exhibit, Primary means Basic.
</FN>