<ARTICLE> 5
<LEGEND>
This schedule contains summary financial information extracted from December 31,
1999 Annual Report on Form 10-K and is qualified in its entirety by reference to
such financial statements.
</LEGEND>
<MULTIPLIER> 1,000

                             
<PERIOD-TYPE>                   YEAR
<FISCAL-YEAR-END>                          DEC-31-1999
<PERIOD-START>                             JAN-01-1999
<PERIOD-END>                               DEC-31-1999
<CASH>                                          25,265
<SECURITIES>                                 2,372,833
<RECEIVABLES>                                   21,830
<ALLOWANCES>                                         0
<INVENTORY>                                          0
<CURRENT-ASSETS>                             2,419,928
<PP&E>                                               0
<DEPRECIATION>                                       0
<TOTAL-ASSETS>                               2,419,928
<CURRENT-LIABILITIES>                        1,264,723
<BONDS>                                        945,270
<PREFERRED-MANDATORY>                                0
<PREFERRED>                                     26,517
<COMMON>                                       186,766
<OTHER-SE>                                     (3,348)
<TOTAL-LIABILITY-AND-EQUITY>                 2,419,928
<SALES>                                              0
<TOTAL-REVENUES>                               147,310
<CGS>                                                0
<TOTAL-COSTS>                                        0
<OTHER-EXPENSES>                                25,009
<LOSS-PROVISION>                                 1,346
<INTEREST-EXPENSE>                             119,227
<INCOME-PRETAX>                                  1,728
<INCOME-TAX>                                         0
<INCOME-CONTINUING>                                  0
<DISCONTINUED>                                       0
<EXTRAORDINARY>                                      0
<CHANGES>                                            0
<NET-INCOME>                                     1,728
<EPS-BASIC>                                   (0.10)
<EPS-DILUTED>                                   (0.10)