<ARTICLE> 5 <LEGEND> </LEGEND> <CIK> 833079 <NAME> HOMEPLEX MORTGAGE INVESTMENTS CORPORATION <MULTIPLIER> 1,000 <CURRENCY> U.S. DOLLARS <PERIOD-TYPE> 3-MOS <FISCAL-YEAR-END> DEC-31-1996 <PERIOD-START> JAN-01-1996 <PERIOD-END> MAR-31-1996 <EXCHANGE-RATE> 1 <CASH> 3091 <SECURITIES> 9082 <RECEIVABLES> 0 <ALLOWANCES> 0 <INVENTORY> 0 <CURRENT-ASSETS> 0 <PP&E> 0 <DEPRECIATION> 0 <TOTAL-ASSETS> 26523 <CURRENT-LIABILITIES> 0 <BONDS> 6828 <PREFERRED-MANDATORY> 0 <PREFERRED> 0 <COMMON> 99 <OTHER-SE> 18433 <TOTAL-LIABILITY-AND-EQUITY> 26523 <SALES> 0 <TOTAL-REVENUES> 634 <CGS> 0 <TOTAL-COSTS> 0 <OTHER-EXPENSES> 388 <LOSS-PROVISION> 0 <INTEREST-EXPENSE> 162 <INCOME-PRETAX> 84 <INCOME-TAX> 0 <INCOME-CONTINUING> 84 <DISCONTINUED> 0 <EXTRAORDINARY> 0 <CHANGES> 0 <NET-INCOME> 84 <EPS-PRIMARY> 0.01 <EPS-DILUTED> 0.01