<ARTICLE> 5 <LEGEND> THIS SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM THE SEPTEMBER 30, 1999 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-31-1999 <PERIOD-START> JAN-1-1999 <PERIOD-END> SEP-30-1999 <CASH> 14,841 <SECURITIES> 1,262,192 <RECEIVABLES> 25,504 <ALLOWANCES> 4,426 <INVENTORY> 0 <CURRENT-ASSETS> 1,298,111 <PP&E> 0 <DEPRECIATION> 0 <TOTAL-ASSETS> 1,298,111 <CURRENT-LIABILITIES> 1,905 <BONDS> 1,192,457 <PREFERRED-MANDATORY> 0 <PREFERRED> 0 <COMMON> 81 <OTHER-SE> 103,668 <TOTAL-LIABILITY-AND-EQUITY> 1,298,111 <SALES> 0 <TOTAL-REVENUES> 58,173 <CGS> 0 <TOTAL-COSTS> 0 <OTHER-EXPENSES> 5,223 <LOSS-PROVISION> 2,708 <INTEREST-EXPENSE> 44,436 <INCOME-PRETAX> 5,806 <INCOME-TAX> 0 <INCOME-CONTINUING> 5,806 <DISCONTINUED> 0 <EXTRAORDINARY> 0 <CHANGES> 0 <NET-INCOME> 5,806 <EPS-BASIC> 0.72 <EPS-DILUTED> 0.72