<ARTICLE> 5
<MULTIPLIER> 1,000
       
                                         
<PERIOD-TYPE>                                     6-MOS
<FISCAL-YEAR-END>                           DEC-31-1995
<PERIOD-END>                                JUN-30-1995
<CASH>                                            5,372
<SECURITIES>                                          0
<RECEIVABLES>                                 2,275,252
<ALLOWANCES>                                      1,775
<INVENTORY>                                           0
<CURRENT-ASSETS>                                      0
<PP&E>                                              293
<DEPRECIATION>                                       65
<TOTAL-ASSETS>                                2,349,309
<CURRENT-LIABILITIES>                                 0
<BONDS>                                         188,826
<COMMON>                                            406
<PREFERRED-MANDATORY>                                 0
<PREFERRED>                                           0
<OTHER-SE>                                      331,185
<TOTAL-LIABILITY-AND-EQUITY>                  2,349,309
<SALES>                                               0
<TOTAL-REVENUES>                                 27,629 <F1>
<CGS>                                                 0
<TOTAL-COSTS>                                     4,120
<OTHER-EXPENSES>                                      0
<LOSS-PROVISION>                                  1,317
<INTEREST-EXPENSE>                                    0
<INCOME-PRETAX>                                  22,192
<INCOME-TAX>                                          0
<INCOME-CONTINUING>                              22,192
<DISCONTINUED>                                        0
<EXTRAORDINARY>                                       0
<CHANGES>                                             0
<NET-INCOME>                                     22,192
<EPS-PRIMARY>                                      0.57
<EPS-DILUTED>                                      0.57

<FN>
<F1>Includes 60,213 of interest expense related to mortgage loan activities.
</FN>