<ARTICLE> 5
<LEGEND>
THIS SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM MARCH 31,
2000 QUARTERLY REPORT ON FORM 10-Q AND IS QUALIFIED IN ITS ENTIRETY BY REFERENCE
TO SUCH
</LEGEND>
<MULTIPLIER> 1,000

                             
<PERIOD-TYPE>                   3-MOS
<FISCAL-YEAR-END>                          DEC-31-2000
<PERIOD-START>                             JAN-01-2000
<PERIOD-END>                               MAR-31-2000
<CASH>                                             156
<SECURITIES>                                 1,436,389
<RECEIVABLES>                                        0
<ALLOWANCES>                                         0
<INVENTORY>                                          0
<CURRENT-ASSETS>                             1,443,453
<PP&E>                                              56
<DEPRECIATION>                                       0
<TOTAL-ASSETS>                               1,443,530
<CURRENT-LIABILITIES>                        1,334,564
<BONDS>                                              0
<PREFERRED-MANDATORY>                                0
<PREFERRED>                                          0
<COMMON>                                       143,279
<OTHER-SE>                                    (34,313)
<TOTAL-LIABILITY-AND-EQUITY>                   108,966
<SALES>                                              0
<TOTAL-REVENUES>                                24,617
<CGS>                                                0
<TOTAL-COSTS>                                        0
<OTHER-EXPENSES>                                   582
<LOSS-PROVISION>                                     0
<INTEREST-EXPENSE>                              19,293
<INCOME-PRETAX>                                  4,848
<INCOME-TAX>                                         0
<INCOME-CONTINUING>                              4,848
<DISCONTINUED>                                       0
<EXTRAORDINARY>                                      0
<CHANGES>                                            0
<NET-INCOME>                                     4,848
<EPS-BASIC>                                       0.35
<EPS-DILUTED>                                     0.35