<ARTICLE> 5 <PERIOD-TYPE> 3-MOS <FISCAL-YEAR-END> DEC-31-1999 <PERIOD-END> MAR-31-1999 <CASH> 20,022 <SECURITIES> 64,585 <RECEIVABLES> 1,028,934 <ALLOWANCES> 0 <INVENTORY> 140,614 <CURRENT-ASSETS> 0 <PP&E> 0 <DEPRECIATION> 0 <TOTAL-ASSETS> 1,511,068 <CURRENT-LIABILITIES> 0 <BONDS> 1,286,616 <PREFERRED-MANDATORY> 26,319 <PREFERRED> 0 <COMMON> 83 <OTHER-SE> 134,379 <TOTAL-LIABILITY-AND-EQUITY> 1,511,068 <SALES> 5,035 <TOTAL-REVENUES> 53,309 <CGS> 3,666 <TOTAL-COSTS> 3,666 <OTHER-EXPENSES> 47,735 <LOSS-PROVISION> (2,672) <INTEREST-EXPENSE> 5,590 <INCOME-PRETAX> (1,010) <INCOME-TAX> 21 <INCOME-CONTINUING> (1,031) <DISCONTINUED> 0 <EXTRAORDINARY> 0 <CHANGES> 835 <NET-INCOME> (2,144) <EPS-PRIMARY> (.26) <EPS-DILUTED> (.26)