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                                  EXHIBIT 21.1

                    RESOURCE BANCSHARES MORTGAGE GROUP, INC.
                         SUBSIDIARIES OF THE REGISTRANT

1.  RBMG, Inc. (f/k/a Intercounty Mortgage, Inc.) a wholly-owned subsidiary of
the Registrant, was formed by the Registrant in January 1995 and is 
incorporated in the state of Delaware.

2.  Meritage Mortgage Corporation, a wholly-owned subsidiary of the Registrant,
was acquired by the Registrant in April 1997 and is incorporated in the state 
of Oregon.

3.  Resource Bancshares Corporation, a wholly-owned subsidiary of the 
Registrant was acquired by the Registrant in December 1997 and is incorporated 
in the state of South Carolina.

4.  Laureate Capital Corp. (f/k/a Laureate Realty Services, Inc.) a 
wholly-owned subsidiary of Laureate Holdings, Inc., was acquired by the 
Registrant in December 1997 and is incorporated in the state of South Carolina.

5.  Laureate Holdings, Inc. (f/k/a Laureate Capital Corp.), a wholly-owned 
subsidiary of Resource Bancshares Corporation, was acquired by the Registrant 
in December 1997 and is incorporated in the state of Delaware.

6.  RBMG Asset Management Company, Inc., a wholly-owned subsidiary of the 
Registrant, was formed by the Registrant in November 1997 and is incorporated 
in the state of Nevada.

7.  RBMG Funding Co., Inc., a wholly-owned subsidiary of RBMG Asset Management 
Company, Inc., was formed by RBMG Asset Management, Inc. in September 1997 and 
is incorporated in the state of Nevada.

8.  TFP Funding, Inc., a wholly-owned subsidiary of Resource Bancshares 
Corporation, was acquired by the Registrant in December 1997 and is 
incorporated in the state of Delaware.

9.  TFP Funding III, Inc., a wholly-owned subsidiary of Resource Bancshares 
Corporation was formed by Resource Bancshares Corporation in June 1998 and is 
incorporated in the state of Delaware.

10. MG Reinsurance Company, a wholly-owned subsidiary of the Registrant, was 
formed by the Registrant in November 1998 and is incorporated in the state of
Vermont.